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☆ Trump allied Republicans are changing the GOP's approach to labor, free markets and regulation
▼ + stars: | 2024-05-21 | by ( Eamon Javers | ) www.cnbc.com time to read: +9 min

WASHINGTON — The first Trump presidency shattered conservative economic ideology on the Republican Party's approach to free markets and tariffs. Source: AmericanCompass.org To be clear, this is not yet the dominant strain of Republican economic thinking in Washington. Cass argues that Republican economic policy has been focused on the wrong goals: lowering prices and increasing consumption. "It was absolutely black letter economic doctrine that the point of economic policy was to consume as much as possible. watch now"Spinning assets in circles creates nothing of value, and in fact creates the opposite of value," Cass said.

Persons: Donald Trump, Brendan Mcdermid, Eamon Javers, WASHINGTON —, Trump, Trump's, Sohrab Ahmari, Ahmari, elitists, Bud Light, Oren Cass, Cass, Michael Wayland, CNBC Cass, –, Biden, Pennsylvania Republican Sen, Pat Toomey Organizations: Reuters, WASHINGTON, Trump, Republican, GOP, Wall Street, Amazon, Starbucks, U.S . Chamber of Commerce, Block, Development Bank, Environmental, American, Bronco, Ford's, Ford's Michigan Assembly, CNBC, Wall, Pennsylvania Republican Locations: Freeland , Michigan, U.S, America, Washington, China, Block, Ford's Michigan, Cass, Pennsylvania

☆ Exxon faces opposition from CalPERS after 'devastating' anti-ESG activist suit
▼ + stars: | 2024-05-20 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Exxon Mobil 's monthslong battle with two environmentally focused activist investors has cost the company the support of the California Public Employees' Retirement System. The two activists submitted a shareholder proposal that would have forced the company to reduce direct emissions and set a target for lowering emissions at suppliers and customers. Exxon sued the investors in Texas federal court in January, prompting them to withdraw the proposal. Even with the activists backing off, Exxon has continued its lawsuit to prevent the activists from ever again submitting such a proposal. CalPERS said in its letter that Exxon's "reckless" lawsuit threatened shareholder activism efforts on any issue.

Persons: Darren Woods, Arjuna, CalPERS, Marcie Frost, Theresa Taylor, it's, Greg Goff, Kaisa Hietala, Andy Karsner, Jeff Ubben Organizations: APEC, Summit, Moscone West, Exxon Mobil, California Public Employees, Exxon, CNBC, ExxonMobil, Securities and Exchange Commission, Inclusive Capital Locations: San Francisco , California, Texas

☆ Why the biggest real estate funds still struggle
▼ + stars: | 2024-05-17 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +8 min

Read previewBlackstone, the world's largest landlord, contends the worst is over for commercial real estate. In the first quarter, shareholders in Blackstone Real Estate Income Trust, or BREIT, its $59 billion flagship real estate investment fund, pulled out almost a billion dollars a month on average, according to the company's first-quarter earnings statement. A similar investment fund operated by Barry Sternlicht's Starwood Capital has had an even greater retreat by investors. Share pricing is determined through appraisals of the value of the underlying real estate holdings. In May, Blackstone Real Estate Partners X also completed the $3.5 billion acquisition of Tricon Residential, an owner of single family rental homes.

Persons: —, Barry Sternlicht's, Kevin Gannon, BREIT, reinvigorating, anemic, REITs, Jonathan Gray, Blackstone Heidi Gutman, NBCUniversal, Jon Gray, they're, Gray, outperformance, redemptions, Blackstone, Gannon, They're, Sternlicht, Todd Henderson, REIT, Henderson, It'll Organizations: Service, Investors, Income Trust, Business, Barry Sternlicht's Starwood Capital, Starwood Real, Blackstone, Starwood, KKR, Apollo, Federal Reserve, Communities, Blackstone Real Estate Partners, Tricon Locations: Blackstone, Brookfield, BREIT, Tricon, Nashville, DWS

☆ People are raiding their savings and racking up debt, paving the way for economic pain, expert warns
▼ + stars: | 2024-05-15 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

People are spending almost every dollar they have to keep up with rising prices and interest costs. They're cutting back wherever they can, paving the way for an economic slump, Stephanie Pomboy said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "They're spending every dollar they have, and then some, just to keep up with the basic necessities." This story is available exclusively to Business Insider subscribers.

Persons: Stephanie Pomboy, — Organizations: Service, Business

☆ The state of Wisconsin purchased $163 million in bitcoin ETFs in the first quarter
▼ + stars: | 2024-05-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The state of Wisconsin has purchased about $163 million worth of bitcoin, according to 13F filings. The state of Wisconsin Investment Board purchased bitcoin ETFs from BlackRock and Grayscale in the first quarter. The Wisconsin Investment Board manages state's pension which is worth more than $150 billion. AdvertisementThe state of Wisconsin purchased $163 million worth of bitcoin in the first quarter, according to a 13F filing made with the Securities and Exchange Commission. Advertisement"Wow, a state pension bought $IBIT in the first quarter.

Persons: —, Eric Balchunas, Balchunas, Bitcoin Organizations: Wisconsin Investment, Service, Securities and Exchange Commission, The Wisconsin Investment Board, Bloomberg Intelligence Locations: Wisconsin, BlackRock, Virginia, Fairfax County

☆ The AI boom reminds this expert of the dot-com bubble — with one dangerous difference
▼ + stars: | 2024-05-05 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewThe AI boom resembles the dot-com bubble — but there's one big difference that makes this craze far more dangerous, says one expert. "Many dot-com companies that drove the internet change went broke doing it. Many AI companies driving as big a change will go broke or lose half their value." "The giant AI pioneers won't go broke, but if AI losses drive their stock prices down, lots of investors will suffer," Gordon said. He's previously drawn a line between the dot-com bubble and the tech-stock boom.

Persons: —, Erik Gordon, Gordon, He's Organizations: Service, Business, University of Michigan's Ross School of Business, Nvidia, Microsoft, Big Tech

☆ ISS says unions and pension funds should back Norfolk Southern activist investor
▼ + stars: | 2024-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

Norfolk Southern Chief Executive Alan Shaw testifies during a Senate Commerce, Science and Transportation Committee hearing titled "Improving Rail Safety in Response to the East Palestine Derailment" in Washington, U.S., March 22, 2023. Norfolk Southern -invested unions and pension funds should back activist Ancora's full seven-director slate at the railroad's shareholder meeting later this month, two different Institutional Shareholder Services proxy advisory services said. Neuberger Berman said earlier that it would support Ancora's case for change at Norfolk Southern, while Canadian asset manager EdgePoint also reaffirmed on Thursday that it would be voting its shares with the activist. (EdgePoint was initially partnered with Ancora's campaign at Norfolk Southern but dissolved that arrangement months earlier.) Top institutional shareholders include Vanguard, BlackRock, State Street and Dodge & Cox, as well as California's pension funds, CalPERS and CalSTRS, and Colorado's public pension fund.

Persons: Alan Shaw, Ancora's, Taft, Jim Barber, Glass Lewis, Barber, investor's, Ancora, Neuberger Berman, EdgePoint Organizations: Norfolk Southern, Commerce, Science, Institutional, Hartley Advisory Services, Social Advisory Services, CNBC, UPS, ISS, Norfolk Southern's, Norfolk, Vanguard, Dodge, Cox Locations: East Palestine, Washington , U.S, Norfolk, East Palestine , Ohio, BlackRock

☆ Top New York official asks Best Buy about its commitment to LGBTQ groups after conservative pressure
▼ + stars: | 2024-05-02 | by ( Matt Lavietes | Brooke Sopelsa | ) www.cnbc.com time to read: +8 min

The New York state comptroller sent a letter to Best Buy last week questioning whether the company changed its commitment to inclusivity and supporting LGBTQ groups. The comptroller's office manages the state's $207 billion public pension fund, which has invested in Best Buy. He also denied that the NCPPR pressured Best Buy to stop supporting LGBTQ groups in general. "This contentious and vast disagreement between radical gender theory activists and the general public has nothing to do with Best Buy selling electronics." Peck did not ask Best Buy to stop its donations to the HRC, saying in the email, "We understand that it's unrealistic for Best Buy to leave HRC in the near future because of their political clout."

Persons: Thomas DiNapoli, Corie, Barry, J, Patrick Doyle, DiNapoli, Scott Shepard, Shepard, Trevor, Carly Charlson, Charlson, Eric Bloem, Bloem, Ethan Peck, Peck, Marina Rizzo, hadn't, Rizzo Organizations: NBC News, Securities, Exchange Commission, National Center for Public Policy Research, Best, NBC, NCPPR's Free Enterprise, SAGE, GLAAD, Human Rights, SEC, NCPPR's Free Enterprise Institute, HRC, PRIDE Locations: York, States

☆ NABTU: Biden scores major union backing as its leaders attack Trump
▼ + stars: | 2024-04-23 | by ( Edward-Isaac Dovere | ) edition.cnn.com time to read: +8 min

CNN —Joe Biden landed a major union endorsement Wednesday from North America’s Building Trades Unions, whose leaders say the president has his infrastructure bill largely to thank for it. The backing from NABTU, which has 3 million members nationwide, is more enthusiastic than its 2020 backing of Biden. That’s raised questions about the political future of the next generation of union members. It’s “almost like the perfect leader was sent at the perfect time for working people,” NABTU President Sean McGarvey told CNN about Biden in an interview announcing the endorsement. Biden appeared at the union’s conference in Washington on Wednesday to officially get the nod – which union leaders also want to be seen as a stark rebuff of Trump, who eagerly solicited support from union members and leaders during his time in office, but, their leaders say, didn’t deliver.

Persons: CNN — Joe Biden, Biden, Donald Trump, That’s, It’s, ”, Sean McGarvey, Trump, NABTU, ” Biden, “, ” “, Joe Biden, Elizabeth Frantz, Biden’s, McGarvey, ” McGarvey, it’s, Trump’s, Sean, “ Donald Trump, ” Brent Booker, Booker, ” Booker, didn’t, Julie Chavez Rodriguez, “ Biden, he’s, Mitch Landrieu, ” Landrieu, CNN’s Michael Williams Organizations: CNN, Unions, Teamsters, Republican, Democratic, Biden, Trump, Covid, North, Washington Hilton, ’ International Union of Locations: America’s, Pennsylvania, Michigan, Wisconsin, NABTU, Washington, Washington ,, Chicago, ’ International Union of North America

☆ World’s largest wealth fund says there’s ‘clearly a lot of froth’ in the tech sector right now
▼ + stars: | 2024-04-23 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

The chief executive of Norway's gigantic sovereign wealth fund on Tuesday said there is "clearly a lot of froth" in the tech sector, suggesting that whether there is too much of it could depend on this week's tech earnings bonanza. U.S. tech behemoths including Tesla , Meta , Microsoft and Google parent Alphabet are all scheduled to release results in the coming days. "If I look at what we can read out of the current market, I would say that there is clearly a lot of froth within the technology sector. The world's largest sovereign wealth fund, which was valued at 17.7 trillion kroner ($1.6 trillion) at the end of March, was established in the 1990s to invest the surplus revenues of Norway's oil and gas sector. To date, the fund has put money in more than 8,800 companies in over 70 countries around the world, making it one of the largest investors across the globe.

Persons: Nicolai Tangen, CNBC's, NBIM Organizations: Meta, Microsoft, Google, Elon Musk's EV, Tesla, Nasdaq, Nvidia, Norges Bank Investment Management, Government Pension Fund Locations: U.S

☆ China faces a reckoning as disillusioned Gen Z and millennial workers refuse to save for retirement: report
▼ + stars: | 2024-04-05 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +1 min

China's young people are abandoning retirement savings, The New York Times reported. The aging population and declining birthrate have intensified the pension crisis. A rapidly aging population, difficulties finding a job, and concerns about low pay are weighing on the minds of the country's young people. For some, that has led them to refuse to save for retirement entirely, according to an in-depth report in The New York Times. This story is available exclusively to Business Insider subscribers.

Persons: —, Tao Swift Organizations: New York Times, Service, The New York Times, Times, Business Locations: The, Chengdu

☆ It looks like it could be the end of the AI hype cycle
▼ + stars: | 2024-04-03 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Read previewSome AI leaders are starting to ask themselves the question: should we be buying the hype? Almost a year and a half on from the launch of ChatGPT, the hype around the technology is seemingly everywhere. AI image generator Stability AI also lost its chief, Emad Mostaque, amid reports of financial pressure. Others though, like Google deep learning expert François Chollet, are keen to stress just how far off human intelligence today's AI models actually are. Until some real signs of money-making, human-level intelligence do emerge, expect more to call it all hype.

Persons: —, Bill Gates, Elon Musk, it's, Gary Marcus, Sam Altman, Marcus, GmjUDKhc6k — Gary Marcus, @GaryMarcus, Mustafa Suleyman, Emad Mostaque, Eric Schmidt, Demis Hassabis, Musk, François Organizations: Service, Business, Google, Invest, Investors, New York University, Nvidia, NVidia, Blackwell, Microsoft, Financial Locations: OpenAI, Sequoia

Trian claims Disney's board has failed to generate sufficient returns in recent years as subscription streaming losses have mounted and traditional TV subscribers have declined. Early vote countBoth Disney and Trian received support from influential shareholders ahead of Wednesday's meeting. Roughly one-third of Disney's shareholders are retail shareholders, who historically vote in small numbers in annual meetings. The arrangement still raised questions about ValueAct's support for the company and whether Disney's board should have disclosed the prior relationship. WATCH: Disney board battle reaches final moments

Persons: Bob Iger, Mickey Mouse, Valerie Macon, Nelson Peltz, Jay Rasulo, They've, Maria Elena Lagomasino, Michael Froman, Peltz, Ike Perlmutter, Trian, Disney's, Iger, Bob Chapek, Patrick T, Adam Jeffery, Morgan Stanley, James Gorman, CNBC's, George Lucas, Laurene Powell Jobs, Lucas, Powell Jobs, Ken Squire, Rowe Price, Rowe, Mason Morfit's, ValueAct, Neuberger Berman, John Ferguson, Rasulo —, Glass Lewis, Iger's, Gorman, Jeremy Darroch, CNBC's Andrew Ross Sorkin, Heidi Gutman, Lagomasino, shouldn't, Blackwells, Rasulo, Jason Aintabi, John Foley, Jessica Schnell, Craig Hatkoff, Leah Solivan, ValueAct hasn't Organizations: AFP, Getty Images Disney, Voters, Trian Partners, Disney, PepsiCo, Marvel, SEC, Fallon, Bloomberg, Getty, CNBC Disney, CNBC, Star Wars, LucasArts, Pixar, BlackRock, Institutional, California Public Employees, Yacktman Asset Management, Saratoga Proxy, ISS, Sky, Trian Fund Management, NBCU, Bank, NBCUniversal, Green, Comcast Locations: Los Angeles, New York

☆ Bob Iger may prevail in Disney’s boardroom showdown, but the battle has not left him unscathed
▼ + stars: | 2024-04-03 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

New York CNN —The battle for the future of Disney is about to reach its epic conclusion. Nelson Peltz, founder and chief executive officer of Trian Fund Management, has continually criticized Disney CEO Bob Iger. The forces that have tormented Iger will be banished to the shadows, exiled outside of the Magic Kingdom for now. The "Partners" statue of Walt Disney and Mickey Mouse, at Cinderella Castle at the Magic Kingdom, at Walt Disney World. The future of Disney is up for grabs in the proxy-fight between Iger and Peltz.

Persons: Nelson Peltz, Bob Iger, Peltz, Jay Rasulo, Rasulo, Disney’s “, Marco Bello, Iger, Bob Chapek, ” Barton Crockett, CNN’s, Samantha Delouya, George Lucas, Laurene Powell Jobs, Morgan, Jamie Dimon, Walt, Roy Disney, Abigail Disney, Ike Perlmutter, Trian, they’ll, Walt Disney, Mickey Mouse, Joe Burbank, ”, it’s, King, Hollywood, “ Iger Organizations: New York CNN, Disney, Trian, Management, Netflix, Trian Fund Management, Bloomberg, Rosenblatt Securities, “, Former Marvel Entertainment, Services, Magic Kingdom, Magic, Walt Disney World, Orlando Sentinel, Tribune, Service Locations: New York, Iger

☆ Thames Water: Britain’s biggest water company left in the lurch by shareholders
▼ + stars: | 2024-03-28 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Investors are refusing to inject billions in new money into Britain’s biggest water company, leaving the beleaguered business at risk of an emergency government takeover. “After more than a year of negotiations with the regulator, Ofwat has not been prepared to provide the necessary regulatory support for a business plan which ultimately addresses the issues that Thames Water faces,” the shareholders said. In its turnaround plan published in October, Thames Water, which is saddled with £14 billion ($17.7 million) in debt, proposed to jack up the average annual customer bill by 40% by 2030. The first £500 million ($630 million) of that sum was due by Sunday, March 31. “Based on the feedback provided by Ofwat to Thames Water to date, the regulatory arrangements that would be expected to apply to Thames Water… make the (turnaround plan) uninvestible,” the utility said in a statement Thursday.

Persons: Ofwat, Chris Weston, “, Jeremy Hunt, Weston, ”, Olesya Dmitracova Organizations: London CNN — Investors, Ofwat, Thames, Water, Reuters, Government, BBC Locations: Thames, London, England, China, Abu Dhabi, British, Wales

☆ Investing in sports teams is trendy now — but is it headed toward bubble territory? New research provides a playbook.
▼ + stars: | 2024-03-19 | by ( Tiara White | ) www.businessinsider.com time to read: +6 min

The simmering topic has been up for debate, in part because prices for NFL teams have risen so high that they threaten to restrict who can be a lead owner. This raises the question: Are investments in sports teams actually a good investment, especially for risk-averse investors like pensions and endowments? According to new research published in Investments & Wealth Publications in November, the answer is a resounding yes. For the article, he teamed up with his father, Arun Muralidhar, the chairman and founder of Mcube Investment Technologies, which develops decision-support products for institutional investment managers. "They themselves are investing globally to make sure that their brand is increasing, and they found great success with that."

Persons: —, Sid Muralidhar, Muralidhar, Risktyle, Arun Muralidhar, Sachin Muralidhar, Sachin, Arun, Sid Muralidhar Sid Muralidhar, homed, it's Organizations: Service, NFL, Dallas Cowboys, Forbes, Business, Investments, Wealth, NHL, Citigroup, Mcube Investment Technologies, The University of Virginia, National Hockey League, NBA, MLB, BI

☆ World's largest pension fund explores bitcoin as an investment
▼ + stars: | 2024-03-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

A man walks past a poster that informs customers that bitcoin can be used in this shop in Tokyo on January 06, 2018. Japan's government pension fund on Tuesday said it is requesting information on "illiquidity assets" such as bitcoin , as part of research into potential new investments. The Government Pension Investment Fund (GPIF) of Japan, the world's largest pension fund by assets under management on several different rankings, said it is looking for "basic information" on illiquid assets other than those in which it already invests. GPIF said it currently puts funds in domestic and foreign bonds and stocks, real estate, infrastructure and private equity. It is now looking for information about other assets such as forests, farmland, gold and bitcoin and how these might be incorporated into the portfolio of pension funds.

Persons: GPIF Organizations: Government Pension Investment Fund Locations: Tokyo, Japan

☆ Emails show how a right-wing group steers GOP leaders on major policy issues
▼ + stars: | 2024-03-17 | by ( Bob Ortega | Daniel Medina | ) edition.cnn.com time to read: +18 min

Missouri Secretary of State Jay Ashcroft speaks with reporters on Jan. 23 in Jefferson City, Missouri. In Wyoming, a GOP state senator forwarded an FGA draft bill to Secretary of State Chuck Gray that would prohibit sending out unsolicited absentee ballot request forms. Emails show the group strategized with the secretary of state’s office for weeks leading up to Ashcroft proposing his own such rule last January. FGA notches wins with weakened child labor lawsFGA’s lobbying group, The Opportunity Solutions Project, spearheads its efforts at the state level. Chip Somodevilla/Getty ImagesFGA also continues its push at the state level across the country to enact its policy priorities.

Persons: State Jay Ashcroft, “, Ashcroft, Kacen Bayless, FGA, –, Chuck Gray, ” Gray, Gray, ”, Joe Biden’s, Jay, Daniel Garrett, Garrett, “ It’s, Missouri’s, Scott Fitzpatrick, BlackRock, ” Fitzpatrick, Mark Felix, Fitzpatrick, ALEC, Andy Puzder, Carls Jr, ” Puzder, Kristina Shelton, Puzder, ” Kristina Shelton, they’ve, Tarren Bragdon, Rebecca Burkes, It’s, Tyson, ’, Bragdon, Sarah Bryner, Florida Governor Ron DeSantis, Paul Renner, Donald Trump, Chip Somodevilla, Shelton, ” Shelton Organizations: CNN, State, Republican, Foundation, Government, Missouri, Kansas City Star, Tribune, Service, GOP, Ashcroft, Conservative, Missouri Chamber of Commerce, National, University of Pennsylvania, Brookings Institution, Exxon, BlackRock, ” BlackRock, Energy, ExxonMobil, Washington Post, American Legislative Exchange Council, Heritage Foundation, Heritage, Boston, Wisconsin Democratic, FGA, Solutions, Tyson Foods Inc, George’s Inc, US Department of Labor, Solutions Project, Daily, The Heritage Foundation, Alliance, Trump, Florida Governor, Bragdon, Florida House, House, FBI, Justice Department, Department of Education, Center, Pleaides Locations: Missouri, Texas, Jefferson City , Missouri, Wyoming, Kansas , Indiana, BlackRock, Florida, ExxonMobil Baytown, Baytown , Texas, Washington, ” Wisconsin, Wisconsin, Arkansas, Iowa, Park City , Utah, DeSantis, Rome , Georgia

☆ South Korea to speed up reforms for boosting shareholder returns and tackling 'Korea discount'
▼ + stars: | 2024-03-15 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

South Korea's financial regulator will look at speeding up the corporate reforms proposed last month and could reportedly add newer measures, after market players voiced concerns the steps might not be enough to tackle the so-called "Korea discount." The Financial Services Commission held a meeting on Thursday with domestic institutional investors and the country's pension fund, where vice chairman Kim So-young said the schedule for the reforms announced earlier would be speeded up, according to a Reuters report. "We will do our best to announce and implement before the previously planned schedule, as the market's expectations are high." In a statement issued after the meeting, the FSC said that establishing transparent markets, making capital market more accessible and pushing for shareholder returns to boost South Korea's undervalued stock markets. The regulator said it would also encourage institutional investors to "actively communicate with companies about the need to take voluntary measures to enhance valuations."

Persons: Kim So Organizations: Financial Services Commission, FSC Locations: Korea

☆ Apple reaches $490 million settlement over Tim Cook's China sales comments
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: +2 min

Tim Cook, chief executive officer of Apple Inc., speaks during the Apple Worldwide Developers Conference at Apple Park campus in Cupertino, California, US, on Monday, June 6, 2022. Apple has reached a $490 million settlement to resolve a class-action lawsuit that alleged Chief Executive Tim Cook defrauded shareholders by concealing falling demand for iPhones in China. A preliminary settlement was filed on Friday with the U.S. District Court in Oakland, California, and requires approval by U.S. District Judge Yvonne Gonzalez Rogers. Apple posted $97 billion of net income in its latest fiscal year, and its payout equals a little under two days of profit. The case is In re Apple Inc Securities Litigation, U.S. District Court, Northern District of California, No.

Persons: Tim Cook, Yvonne Gonzalez Rogers, Cook, Shawn Williams, Rogers, Apple Organizations: Apple Inc, Apple Worldwide, Apple, U.S, Norfolk Pension Fund, Apple Inc Securities Litigation, Court, Northern District of Locations: Cupertino , California, China, Oakland , California, Brazil, India, Russia, Turkey, Norfolk, Norwich, England, Northern District, Northern District of California

☆ Come on, everyone, let's buy TikTok!
▼ + stars: | 2024-03-14 | by ( Henry Blodget | ) www.businessinsider.com time to read: +5 min

So, in the wake of the (notably bi-partisan) House bill, some Americans are already volunteering to buy TikTok — such as former Treasury Secretary Steven Mnuchin. These investors would include private equity funds, hedge funds, pension funds, sovereign wealth funds, mutual funds, and, of course, banks. That's what Steven Mnuchin and everyone else who wants to buy TikTok are planning to do. That's why Mnuchin made his announcement on CNBC this morning — to let every investor on the planet who might give him money to buy TikTok know that he's raising money to buy TikTok. ("Wait — he's putting together a group to buy TikTok and he hasn't called us yet?

Persons: —, Let's, Steven Mnuchin, Mnuchin, Goldman Sachs, there's, Elon Musk, ByteDance, Steven Mnuchin's, hasn't Organizations: Service, Twitter, CNBC Locations: America, China, American, Banks

☆ Inside Startupland's 'Shroom Boom'
▼ + stars: | 2024-03-13 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +11 min

This story is available exclusively to Business Insider subscribers. Frohman is part of a small but growing community within the startups industry that is experimenting with small doses of psilocybin to improve focus and productivity. Business Insider spoke with multiple founders and investors who microdosed, but wished to be anonymous. The person declined to share their name for publication, but their identity is known by Business Insider. Vancouver-based Filament Health is working to expand access to natural psychedelics through an extraction and drug-discovery process, while brick-and-mortar shops Shroomyz and Fun Guyz are further fueling the Canadian "'Shroom Boom".

Persons: Scott Frohman, Frohman, hasn't, Microdosing, James Fadiman —, Koel Robinson, Robinson, Richard Laver, Steve Jobs, Peter Grinspon, Grinspon, Peggy Van de Plassche, Van de Plassche, She's, Justin Zhu, I'm, microdosing, they're, It's Organizations: Business, Rocket Beverage Group, Erewhon, Foods, Massachusetts General Hospital, Harvard Medical School, BMO, PsyMed Ventures, Noetic Fund Locations: Florida, San Francisco, Denver, Minneapolis, In Oregon, California , Iowa, Washington State, Vermont, Massachusetts, Vancouver, Palo Santo

☆ Disney paid ValueAct millions in fees before winning its support in proxy fight, activist says
▼ + stars: | 2024-03-12 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Blackwells Capital, which previously voiced support for Iger and Disney management, said ValueAct had been managing more than $350 million in Disney pension funds in a relationship stretching back to 2013. Blackwells has estimated that Disney paid a cumulative $95 million in fees to ValueAct from 2014 to 2022. Disney and Trian have been in the throes of a proxy fight since October, with the fight intensifying as Disney's annual shareholder meeting nears. Disney has repeatedly voiced its support for Iger and has highlighted that its directors have experience overseeing successful succession planning. Representatives for Disney, Blackwells and ValueAct did not respond to requests for comment outside of normal business hours.

Persons: Robert Iger, Blackwells, Mason Morfit, ValueAct, Bob Iger, Nelson Peltz's Trian, Trian, Bob Chapek, Peltz Organizations: Disney, Dolby Theatre, ValueAct Capital, Nelson Peltz's Trian Partners, Blackwells, Department of Labor Locations: Hollywood , California, Iger

Those more concerned with the climate crisis are asking a bigger question: what does this all mean for the planet? Gas-powered cars, hybrids and EVs all emit roughly the same amount of pollution to manufacture, until you get to producing the battery. Fully electric cars use large batteries made of materials that require heavy mining. And that would still mean less climate pollution on the road overall. And fully electric cars won’t be truly “green” until the energy that charges them comes from renewable sources, like wind and solar.

Persons: Akio Toyoda, EVs, Joe Biden’s, Toyota’s, Daniel Sperling, —, ”, Sam Abuelsamid, Abuelsamid, InfluenceMap, Biden, Kelley, Albert Gore, Gore, I’m, “, ” Monica Nagashima, Lia, Kena, Stephen Ciccone, ” Ciccone, BEV, ” UC’s Sperling Organizations: CNN, Toyota, Auto, US, Toyota Prius Prime, Toyota Toyota, Institute of Transportation Studies, University of California, Ford, EPA, Gas, American Council for, Prius, EV, InfluenceMap, United, Lexus, Cox Automotive, Zero Emission Transportation Association, Getty, Toyota Motor North America, ” Toyota Locations: California, West Virginia, Canada, Australia, United States, EVs, InfluenceMap’s, Japan, Rockland, Blauvelt , New York

☆ Why a warehouse giant is planning a $25 billion push into data centers
▼ + stars: | 2024-03-06 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +10 min

He will fill the newly created role of global head of data centers at the firm. Prologis's push exemplifies the growing interest among investors in data center deals, including players who have not traditionally been involved in the highly specialized industry. Warehouses have squat footprints similar to data centers and are often located in industrial areas that have proximity to the heavy electrical lines and equipment necessary to deliver voluminous power that data centers require. Warehouse growth slows as data centers accelerateDemand for data centers has steadily grown over the past decade, driven by the widespread use of cloud computing and storage across corporate America. Blackstone, for instance, has said it plans to develop as much as $50 billion of data centers in the coming years.

Persons: Chris Curtis, Curtis, Michael Hochanadel, Hochanadel, Harrison, They're, Joseph Ghazal, Ghazal, Hamid Moghadam, JLL, Morgan Stanley, Blackstone, Vince Tibone, Tibone, Prologis's, Ron Kamdem, Moghadam, Carl Beardsley, Beardsley, Chris Crosby, Prince William County, Prologis Organizations: Business, Harrison, Green, Amazon, Google, Microsoft, Brookfield, Blackstone, Compass Locations: San Francisco, Dallas, America, Brookfield, Canadian, Prince William, Virginia

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