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Shares of Logitech are up 2% on the year and could rally another 17%, if Scemama's target price holds true. Analyst Kristine Liwag accompanied the move by raising her price target to $225 from $178. The bank reiterated its overweight rating on the credit card stock but lifted its price target to $275 from $265. International revs should run above the 10%+," the analyst added. Goldman analyst Tina Hou set a 12-month price target of $34, while Bank of America analyst Ming Hsun Lee set a price objective of $35.

Persons: Bernstein, Goldman Sachs, Goldman, TZE, Brian Lee, Lee, — Spencer Kimball, Didier Scemama, Scemama, — Lisa Kailai Han, Morgan Stanley, Kristine Liwag, Heico's, Liwag, Stanley Black, Decker, Julian Mitchell, Mitchell, Wells, Wells Fargo, Donald Fandetti, Fandetti, Canaccord, Kingsley Crane, Crane, Oppenheimer, Jed, Kelly foresees, FanDuel —, Kelly, Zeekr, Tina Hou, Ming Hsun Lee, Hou, Stacy Rasgon, Rasgon, Fred Imbert Organizations: CNBC, Broadcom, Bank of America, Investors, Technologies, Department of Energy, Logitech, Boeing, Barclays, Stanley, Nvidia, American, Express, American Express, U.S . American Express, Wall, Zeekr, China EV, China, Geely Automobile, AMD Locations: Monday's, EU, U.S, China, BofA

☆ There are 4 reasons tech's dominance over the stock market could end this year
▼ + stars: | 2024-06-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Technology stocks have dominated the market for more than a decade. However, strong outperformance in tech may begin to spread to other sectors of the stock market, according to BofA. Here are four reasons tech stocks' dominance could end later this year, according to the bank. AdvertisementThe technology sector's dominance over the stock market could finally end later this year, according to Bank of America. Advertisement"As earnings accelerate outside of Tech, investors will likely become more price sensitive and seek out cheaper earnings growth," Subramanian said.

Persons: —, Savita Subramanian, Subramanian, COVID Organizations: Service, Bank of America, Tech, Federal Reserve, Treasury, Bank of, Technology, Communication Services, Nvidia, hyperscalers Microsoft, Rockwell Automation, ROK Locations: Tech, China, Japan

☆ Here are the next drivers of Costco growth after a great quarter and a stock near records
▼ + stars: | 2024-05-31 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Costco has multiple levers of growth at its disposal, which should lead to a further boost in the stock even after its already impressive year-to-date gains. "If you're disappointed, go to another stock," Jim Cramer said during Friday's Investing Club's Morning Meeting . Jim said investors should not be concerned about the pullback because the stock often drops the day after earnings. COST 1Y mountain COST 1-year stock performance. In addition to exceeding estimates on the top and bottom lines in its fiscal 2024 third quarter, Costco turned in a better-than-expected 6.5% comparable sales increase.

Persons: Jim Cramer, Jim, Costco, Ron Vachris, Gary Millerchip —, Millerchip, Vachris, D.A, Davidson, Redburn, Rich Galanti, it's, Jim Cramer's, John Keeble Organizations: Costco, Walmart, Kroger, Costco Logistics, CNBC, Lakeside, Getty Locations: U.S, Japan, Korea, China, Grays, United Kingdom

☆ Vivek Ramaswamy is waging an expensive trolling campaign on BuzzFeed
▼ + stars: | 2024-05-29 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

In a letter to BuzzFeed’s board, a copy of which Ramaswamy posted online, the MAGA hardliner and former Republican presidential candidate recommended laying off large swaths of the company’s existing staff. He encouraged BuzzFeed’s board to transform the outlet into a creator-driven platform, suggesting it hire personalities akin to fellow radicals Candace Owens and Tucker Carlson. “Address your audience directly and candidly admit: We failed in our obligation to tell you the truth,” Ramaswamy encouraged BuzzFeed. But it was apparent that he does not view the right-wing entrepreneur’s ideas for the future of BuzzFeed as compelling. “I’m very skeptical it makes business sense to turn BuzzFeed into a creator platform for inflammatory political pundits.

Persons: Vivek Ramaswamy —, —, Ramaswamy, MAGA hardliner, BuzzFeed’s, Candace Owens, Tucker Carlson, BuzzFeed, Donald Trump, ” Ramaswamy, Jonah Peretti, MAGA, ” Jeffrey A Sonnenfeld, “, Vivek, Vivek Ramaswamy, Peretti, ” Peretti, ”, Sonnenfeld Organizations: New York CNN, Republican, “, Yale School of Management, Facebook, Huffington Locations: New York, Covid, BuzzFeed

☆ Australian state appoints official for ‘Men’s Behavior Change’ as outcry over violence against women grows
▼ + stars: | 2024-05-29 | by ( Antoinette Radford | ) edition.cnn.com time to read: +4 min

CNN —As Australian women push for action on domestic violence – a problem described by the country’s prime minister as a “national crisis” – one state has appointed a special official charged with improving men’s behavior. Victoria Premier Jacinta Allan announced Wednesday that state MP Tim Richardson would serve as the inaugural Parliamentary Secretary for Men’s Behavior Change – the first position of its kind in the country. Richardson said he would focus on the influence the internet and social media have on male attitudes towards women, and on building respectful relationships. Last year, 64 women were murdered, the group said. Women should not be responsible for ending violence against women,” he said at the time.

Persons: Victoria Premier Jacinta Allan, Tim Richardson, Richardson, ” Richardson, couldn’t, ”, Tarang Chawla, Niki, Nikita Chawla, Jane Hume, Anthony Albanese Organizations: CNN, Victoria Premier, Police, Liberal Party, Victoria, Sky News Locations: Australia, Perth, Western Australia, Bondi, Sydney

☆ Vivek Ramaswamy has a plan for BuzzFeed. There's just one problem.
▼ + stars: | 2024-05-28 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

Former Republican presidential candidate Vivek Ramaswamy announced last week he had been buying up shares in BuzzFeed. Which led to the obvious question: Why is Vivek Ramaswamy buying up shares in BuzzFeed? Related storiesHe's laid it out in a letter to BuzzFeed's board, but if you're in a hurry I can summarize it for you: Ramaswamy wants BuzzFeed to pull an Elon Musk. Another option would be for Ramaswamy to play this out a while longer and watch BuzzFeed shares shoot up based on his saber-rattling. BuzzFeed shares closed at $3 today, up 20% from May 22, when Ramaswamy first disclosed his stake.

Persons: Vivek Ramaswamy, Ramaswamy, BuzzFeed —, Elon, Musk, Tucker Carlson, Bill Maher, There's, Jonah Peretti, Peretti, Donald, he's Organizations: Service, Republican, Twitter Locations: BuzzFeed, MAGA

☆ Rivers of Lava on Venus Reveal a More Volcanically Active Planet
▼ + stars: | 2024-05-27 | by ( Robin George Andrews | ) www.nytimes.com time to read: +1 min

But to see molten rock bleed out of a volcano on a different planet would be extraordinary. That is close to what scientists have spotted on Venus: two vast, sinuous lava flows oozing from two different corners of Earth’s planetary neighbor. Earth and Venus were forged at the same time. So why is Earth a paradise overflowing with water and life, while Venus is a scorched hellscape with acidic skies? One theory holds that, eons ago, several apocalyptic eruptions set off a runaway greenhouse effect on Venus, turning it from a temperate, waterlogged world into an arid desert of burned glass.

Persons: ”, Davide Sulcanese Locations: Pescara, Italy, Venus

☆ Dollar firm ahead of global inflation data
▼ + stars: | 2024-05-27 | by ( ) www.cnbc.com time to read: +4 min

The dollar made a steady start to the week, as investors were focused on U.S., European and Japanese inflation data to guide the global interest rate outlook. The euro , which gained 0.9% on the dollar last week, was in the middle of a range it has held for more than a year at $1.0846. German inflation on Wednesday and euro zone readings on Friday will be watched for confirmation of a European rate cut that traders have priced for next week. The dollar had fallen back after data showed a slowdown in consumer price rises in April and disappointing retail sales, before strengthening last week thanks to better-than-expected PMI survey data. China's yuan finished last week weaker than 7.24 per dollar, its lowest level since early May.

Persons: Sterling, Bob Savage, BNY, China's, Scott Gold, would've, Justin D'Anethan Organizations: New, U.S, Federal, Swiss, Tokyo CPI Locations: Britain, United States, U.S, Asia, New York

☆ How the Monaco Grand Prix became the most iconic F1 race
▼ + stars: | 2024-05-24 | by ( Gregory Leporati | ) www.businessinsider.com time to read: +8 min

The Monaco Grand Prix is the crown jewel of Formula 1, known for its glitz and glamour. In the decades since then, the Monaco Grand Prix has become the crown jewel of Formula 1 — and arguably the most famous race in the world. Senna's surprising defenseThat crash was a distant memory by 1992, as Senna unexpectedly claimed his fifth Monaco Grand Prix victory. While he didn't gain any victories during his Mercedes stint, he earned a pole position at his final Monaco Grand Prix at 43. Daniel Ricciardo celebrating his Monaco Grand Prix win in 2018.

Persons: —, it's, Bob Varsha, Varsha, Clive Rose, Zak Brown, McLaren, Lando Norris, It's, Juan Manuel Fangio, Alfa, Yves, Giraud Cabantous, Maurice Trintignant, Robert Manzon, Giuseppe Farina, Jackie Stewart, Stewart, Jackie, Ayrton Senna, Senna, Ayrton Senna's, Nigel Mansell, Brown, Mansell, Michael Schumacher's, Mercedes, Mark Webber, Schumacher, Daniel Ricciardo, Lewis Hamilton, Ricciardo, Dan Istitene, Charles Leclerc —, he's, Leclerc Organizations: Monaco, Service, Prix, ESPN, Miami Grand Prix, Indianapolis, Le, Alfa Romeo, Formula, Getty, Universal Pictures, Williams, Renault, Mercedes F1, Netflix, Monaco Grand Prix, Monaco —, Ferrari Locations: Monte Carlo, Monaco, Argentine, British

☆ What’s really happening in America’s economy (Trump and Biden spin aside)
▼ + stars: | 2024-05-24 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

You’d think that would mean the economy is coasting, since periods of low unemployment are generally associated with higher rates of economic prosperity. That seems to be the case with a lot of recent economic data: No piece of good news comes without other evidence that give economists pause. “I wouldn’t give the economy a clean bill of health,” said Gregory Daco, chief economist at EY. But given consumer spending is one of the biggest drivers of the economy, a pullback can have adverse effects, too. The uglyThe biggest flashing red light in the economy right now is the level of debt people are racking up.

Persons: Zers, ”, Gregory Daco, Joe Biden, there’s, Donald Trump’s, Here’s what’s, Christopher Waller, ” Waller, ” David Alcaly, Daco, ” Sung Won Sohn Organizations: New, New York CNN, EY, of Labor Statistics, Federal, Gov, Lazard, CNN, New York Fed, Loyola Marymount University, SS Locations: New York, Wisconsin

☆ Many people using GLP-1s for weight loss stop treatment too soon, research shows, and results are not one-size-fits-all
▼ + stars: | 2024-05-21 | by ( Deidre Mcphillips | ) edition.cnn.com time to read: +8 min

Professional organizations have set this as a guideline for when to reassess whether a treatment is providing clinically meaningful weight loss. People who met with their providers less frequently – and those living in underserved regions with broader health inequities – were more likely to discontinue GLP-1 treatment sooner. But using GLP-1 treatments are still an investment in many ways. These injected medications, called GLP-1 agonists, are in high demand because they have proved to be so effective for weight loss. And experts warn that the GLP-1 treatment process can be different for everyone.

Persons: ”, Disha, Wegovy, Jody Dushay, Beth, There’s, Razia Hashmi, ” Hashmi, it’s, “, Dr, Sanjay Gupta, ” Narang, ” Dushay Organizations: CNN, Endeavor Health, Beth Israel Deaconess Medical Center, Harvard Medical School, Shield, Dandelion Health, CNN Health, “ Locations: Chicago, –, GLP

☆ Recession seems almost certain with 19 states in trouble already, expert warns
▼ + stars: | 2024-05-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Read previewGet ready for a recession that hammers consumers, squeezes companies, and drags down stocks, a veteran economist warned. "There is a very high probability of a recession," Nancy Lazar, Piper Sandler's chief global economist, told WealthTrack in a recent interview. Whenever that many states have recorded significant increases in joblessness in the past, there's been a nationwide recession, she noted. AdvertisementSeveral parts of the economy are "really, really struggling," Lazar continued. "If we have a recession, inflation will slow," she said.

Persons: —, Nancy Lazar, Piper, WealthTrack, Lazar, you've, You've, Lazar said, there's, They've, I'm, I've Organizations: Service, Cornerstone Macro, Business, Fed Locations: joblessness

☆ The Dominican Republic votes on Sunday. Here’s what to know
▼ + stars: | 2024-05-17 | by ( Jessica Hasbun | ) edition.cnn.com time to read: +10 min

Santo Domingo, Dominican Republic CNN —The Dominican Republic is days away from a general election that will see voters elect new lawmakers and the president as they weigh the nation’s economy and security. During his first term from 2020 to 2024, the Dominican Republic established a new record in the tourism industry, with more than 10 million tourists visiting the island in 2023. Former President of the Dominican Republic and presidential candidate of the People's Force party Leonel Fernandez greets supporters as he attends a closing campaign rally ahead of Sunday's election, in Santo Domingo, Dominican Republic, May 15, 2024. Martinez poses during an interview with EFE, in Santo Domingo, Dominican Republic, 13 May 2024. People wait in Ouanaminthe, Haiti to cross into Dajabon, Dominican Republic, Friday, May 17, 2024.

Persons: Santo Domingo, Dominican Republic CNN —, Luis Abinader, “ Abinader, ”, Bernardo Vega, Vega, National District Guillermo Moreno, Orlando Barria, Rosario Espinal, Abinader, Critics, Leonel Fernández, Fernandez, Leonel Fernandez, Henry Romero, “, Abel Martínez, Martinez, EFE, Pablo Flores, Flores, Matias Delacroix, Ney Segura Organizations: Dominican Republic CNN, Caribbean nation’s, Modern Revolutionary Party, National Police, Bank, National District, Dominican Liberation Party, Dominican, People's Force, Reuters, Force, People, Quarterly, United Nations, Santo, country’s National, US State Department, World Bank Locations: Dominican Republic, Dominican, Santo Domingo, Haiti, Port, Santiago, Caribbean, Ouanaminthe, Dajabon

☆ Biden team consulted prominent Morehouse alumni to craft commencement speech that’s expected to praise student voices
▼ + stars: | 2024-05-17 | by ( Kayla Tausche | Arlette Saenz | ) edition.cnn.com time to read: +5 min

“The voices of students have grown even more clear, particularly in the last few years,” Allen told CNN in an interview, pointing to the protests following George Floyd’s murder and the Black Lives Matter movement. Among those issues, according to people familiar with the discussions, was student worry that their achievements would be overshadowed by a stump speech. On this day, he’s a commencement speaker for these young men, and that’s what he plans to do – be a commencement speaker,” Benjamin told CNN in an interview. At Morehouse, Biden’s broader economic message touting the expansion of the middle class is likely to hit home, according to Allen. HBCUs “continue to be the number one engine for promoting African Americans into the middle class,” Allen told CNN.

Persons: Joe Biden, Tony Allen, Biden’s, ” Allen, George Floyd’s, Stephen Benjamin, Biden, he’s, ” Benjamin, Donald Trump, haven’t, ” Dr, Eddie Glaude Jr, ” Glaude, Jeh Johnson, Randall Woodfin, Steven Reed, Cedric Richmond, ” Richmond, Richmond, Allen, HBCUs “, ” Organizations: CNN, Morehouse College, Delaware State University, White House, Atlanta, Princeton University’s Department of African American Studies, Morehouse, Trustees, White, Homeland, Black, National Museum of, “ Locations: Gaza, Birmingham , Alabama, Montgomery , Alabama, Black

☆ The View Within Israel Turns Bleak - The New York Times
▼ + stars: | 2024-05-16 | by ( Megan K. Stack | ) www.nytimes.com time to read: +1 min

By Megan K. StackIt was the pictures of Palestinians swimming and sunning at a Gaza beach that rubbed Yehuda Shlezinger, an Israeli journalist, the wrong way. Stylish in round red glasses and a faint scruff of beard, Mr. Shlezinger unloaded his revulsion at the “disturbing” pictures while appearing on Israel’s Channel 12. “We should have seen a lot more revenge there,” Mr. Shlezinger unrepentantly added. “A lot more rivers of Gazans’ blood.”It would be nice to think that Mr. Shlezinger is a fringe figure, or that Israelis would be shocked by his bloody fantasies. Israel has hardened, and the signs of it are in plain view.

Persons: Megan K, Yehuda Shlezinger, Shlezinger, ”, ” Mr, Shlezinger unrepentantly, he’s, preening Organizations: Israel Hayom Locations: Gaza, Israeli, Israel

☆ Flash floods in Afghanistan kill at least 200 people as humanitarian emergency looms
▼ + stars: | 2024-05-11 | by ( Niamh Kennedy | Radina Gigova | ) edition.cnn.com time to read: +3 min

CNN —Flash flooding that has ravaged northern Afghanistan in recent days has killed at least 200 people, UN agency the International Organization for Migration (IOM) told CNN Saturday. An Afghan man walks near his damaged home after heavy flooding in Baghlan province Saturday. Afghan men shovel mud from a house following flash floods. The flash floods add to a string of recent natural disasters that the region has had to endure. Flash floods also swept away dozens in Afghanistan in July, less than three months before thousands were killed by a powerful 6.3 magnitude earthquake that struck the western part of the country.

Persons: ”, Salma Ben Aissa, Mehrab, Gulbudeen, Zabihullah Mujahid, “, ” Mujahid, Mujahid Organizations: CNN, UN, International Organization for Migration, IOM, Afghanistan National Disaster Management Authority, Rescue, Reuters, AFP, Getty Locations: Afghanistan, Badakhshan, Ghor, Herat, “, Afghan, Baghlan, Laqayi, AFP, Pakistan

☆ Organized retail theft ring that targeted Macy's, other retailers is charged in New York
▼ + stars: | 2024-05-08 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

The Macy's logo is seen at its store in Herald Square in New York City on Jan. 19, 2024. "Through our investigation, we found that Rehana's Cosmetics was well-known to shoplifters, who would willingly bring them stolen items," Bragg said. Manhattan District Attorney Alvin Bragg announced an indictment relating to more than $1 million in stolen goods as part of a retail theft fencing operation. The charges come as retailers such as Target and Ulta increasingly cite theft as a growing problem at their stores. In March, a monthslong CNBC investigation showed how police broke up an organized retail crime ring that stole millions in cosmetics from Ulta stores and resold them on Amazon .

Persons: shoplifters, Bragg, Rehana's, Alvin Bragg, Attorney Alvin Bragg Organizations: Empire, Manhattan, Attorney, CNBC, Attorney's Office, CVS, Manhattan District Locations: New York City, Midtown Manhattan, borough's, New York

☆ A recession in early 2025 could send the stock market tumbling 30%, strategist says
▼ + stars: | 2024-05-07 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

A recession by early next year could send stocks down 30%, says BCA strategist Roukaya Ibrahim. AdvertisementThere are two factors signaling a recession by year-end or early 2025, and a downturn could spark a 30% correction in stocks, according to BCA strategist Roukaya Ibrahim. "But eventually, the unemployment rate is going to take higher and that's going to lead to concerns about a recession." Ibrahim isn't alone in calling a recession and a steep plunge in the stock market. Wall Street veteran Gary Shilling, known for predicting the mid-2000s mortgage bubble, is also forecasting a 30% stock market crash by the end of this year, with a recession likely to crush speculative bets that have piled up in recent years.

Persons: Roukaya Ibrahim, Gary Shilling, —, Ibrahim, Ibrahim isn't Organizations: Wall Street, Service, Bloomberg Locations: Friday's, China, Europe

☆ Biden faces widening partisan split over Israel
▼ + stars: | 2024-05-06 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +17 min

CNN —President Joe Biden is facing more critical moments this week that will test his fraught relationship with his base over Israel’s war in Gaza and potentially widen the partisan split about the Jewish state that has been building for years. Against this backdrop, partisan polarization about Israel among American voters was already widening years before the brutal Hamas attack last October and the devastating Israeli response it triggered. An array of polls this spring show how the war in Gaza has hardened this partisan split. Nearly half of Democrats, but only a little over one-fifth of Republicans in the CBS poll, said the US should pressure Israel to stop the fighting. “Biden has a Democratic caucus that is putting a lot of faith in this process,” she said.

Persons: Joe Biden, Long, Benjamin Netanyahu, Netanyahu, “, ”, Aaron David Miller, Biden, Harry Truman, Lyndon B, Johnson, Jimmy Carter, Bill Clinton, Dwight Eisenhower, Richard Nixon, Ronald Reagan, George H.W, Bush, Reagan, George W, Donald Trump, Clinton, Barack Obama, Republicans —, Obama, Israel, Biden —, Gallup, Trump, That’s, Chuck Schumer, Mike Johnson, Biden’s, Jamaal Bowman, Cori Bush, Waleed Shahid, Shahid, David, it’s Goliath, David ”, Miller, “ Biden, ’ ”, Ben Rhodes, ” Biden, “ We’re, Saudi Arabia — “, Mark Mellman, Schumer, Sen, Bernie Sanders, Israel’s, Chris Murphy of, Chris Van Hollen, Chris Coons, Tim Kaine, Virginia, Van Hollen, Amanda Klasing, — Organizations: CNN, Israel, Republican, Democratic, Gallup Organization, Carnegie Endowment, International Peace, Holocaust Memorial, GOP, Whites, Republican Party, Republicans, Gallup, Trump, Chicago Council, Global Affairs, Quinnipiac University, CBS, Liberal, American Israel Public Affairs Committee, AIPAC, National Security Council, Amnesty International, Amnesty Locations: Gaza, Israel, United States, Iran, Quinnipiac, Washington, New York, Missouri, Yom Kippur, Saudi Arabia, Sens, Chris Murphy of Connecticut, Maryland, Delaware, Rafah

☆ Goldman Sachs just refreshed its conviction lists of global stocks — giving one 67% upside
▼ + stars: | 2024-05-06 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Goldman Sachs just refreshed its lists of top global stock picks, adding some and removing others. The investment bank's "Conviction List - Directors' Cut" aims to offer investors a "curated and active" list of 15 to 25 buy-rated stocks. The stocks are selected by a subcommittee designated by the bank's Investment Review Committee for each region. Here are three of the latest additions to Goldman's directors' cut lists — for Asia-Pacific and Europe — that were given more than 30% upside potential in the next 12 months. Goldman has a target price of 11,850 British pence ($148.71) on the stock, giving it around 30.7% upside potential.

Persons: Goldman Sachs, Goldman, London Stock Exchange Goldman, Oliver Carruthers, Samsung Biologics Goldman, Ziyi Chen, Michele Della Vigna, — CNBC's Michael Bloom Organizations: bank's Investment, London Stock Exchange, Microsoft, Samsung, Korean, EU's Renewable Energy, . Locations: Asia, Pacific, Europe, Korean

☆ Palantir shares fall 7% on lower-than-expected guidance
▼ + stars: | 2024-05-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Palantir shares fell around 7% in extended trading on Monday after the defense tech firm reported weaker-than-expected guidance. Palantir expects second-quarter revenue to fall between $649 million to $653 million, versus the $653 million expected by LSEG. Palantir reported $105.5 million in net income for the quarter, or 4 cents per share, compared with $16.8 million, or 1 cent per share, in the year-ago quarter. Earlier this year, Palantir signed a $178 million contract with the U.S. Army to help develop a next-generation, field-deployable sensor station. Karp said Palantir conducted more than 660 bootcamps during the first quarter.

Persons: Alex Karp, Palantir, Karp Organizations: Russell Senate, LSEG, U.S . Army Locations: Washington ,

☆ Labour's Sadiq Khan wins re-election as London mayor
▼ + stars: | 2024-05-04 | by ( ) www.cnbc.com time to read: +1 min

Mayor of London Sadiq Khan hopes to convince U.S. tech firms to invest more in London. Sadiq Khan was re-elected as London's mayor, final results showed on Saturday, helping to cement the Labour Party's commanding lead over the governing Conservatives in local elections ahead of Britain's national vote later this year. For Labour, London is the latest of a number of councils and mayoralties it has won in the local elections, which took place on Thursday, inflicting heavy losses on Prime Minister Rishi Sunak's Conservatives. Opinion polls predict that Labour will win the next national election, propelling its leader Keir Starmer to power and ending 14 years of Conservative government in Britain. Khan, 53, who became the first Muslim mayor of the British capital in 2016, has pledged to build more social housing and work with a future national Labour government to boost police capacity.

Persons: London Sadiq Khan, Sadiq Khan, Rishi Sunak's, It's, Khan, Susan Hall, Keir Starmer, Rishi Sunak Organizations: U.S, Labour, Conservatives, Tory, Conservative, Labour Party, Labour government Locations: London, Britain

☆ Income investors can find double-digit yields at a discount with this play
▼ + stars: | 2024-05-02 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

Enter the closed-end fund, a relative of the traditional, open-end mutual fund. Gundlach highlighted closed-end funds on CNBC's " Closing Bell " Wednesday afternoon, noting that it's "a pretty good environment for moderate risk assets." "For retail investors, closed-end funds have gone back to trading at discounts broadly, and with some leverage involved there, there's double-digit yields available without taking a ton of credit risk," he said. Searching for discounts Drivers of these closed-end fund discounts, particularly those that hold bonds, include sharp spikes in yields. The Abrdn National Municipal Income Fund (VFL) , for instance, is trading at a 15% discount to its net asset value, according to Nuveen's CEF Connect, a database of closed-end funds.

Persons: Jeffrey Gundlach, Gundlach, Eaton Vance Organizations: Income Fund, Income Trust, Fidelity Locations: Eaton Vance California

☆ Stocks making the biggest moves premarket: Eli Lilly, 3M, McDonald's and more
▼ + stars: | 2024-04-30 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Eli Lilly also hiked its full-year guidance for adjusted earnings and revenue, topping analysts' expectations. 3M – Shares advanced 7.7% after the maker of industrial products posted earnings of $2.39 per share on revenues of $7.72 billion. First-quarter revenue at the Netherlands-based automaker slid 12% due to lower sales plus foreign exchange effects, even as net pricing remained strong. HSBC — HSBC, Europe's largest bank by assets, added 4.2% after the firm beat first-quarter earnings expectations and announced the departure of its Group Chief Executive Officer, Noel Quinn. PayPal saw first-quarter revenue of $7.7 billion, topping analysts' $7.51 billion consensus estimate, according to LSEG.

Persons: Eli Lilly —, Eli Lilly, Meanwehile, Goldman Sachs, Coke, Tesla, Noel Quinn, Yun Li, Jesse Pound, Michelle Fox Theobald Organizations: Chrysler, HSBC — HSBC, GE Healthcare Technologies, GE, PayPal Locations: Chicago, Netherlands, Atlanta, China

☆ Saudi Arabia's oil giant boss speaks up for China, saying its massive production of solar panels and EVs helps affordability
▼ + stars: | 2024-04-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Saudi Aramco CEO Amin Nasser praised China for making solar panels and electric vehicles affordable. Saudi Arabia is fostering closer ties with China and wooing Chinese investments and business partnerships. Unlike the West, Saudi Arabia is cozying up to China. "There are lots of opportunities for China to invest in Saudi Arabia," Alibrahim told the media outlet. In March last year, China brokered a détente between Saudi Arabia and Iran, prompting concerns over waning US influence in the Middle East.

Persons: Amin Nasser, Nasser, China's overcapacity, Janet Yellen, Olaf Scholz, China Nasser's, Faisal Alibrahim, Alibrahim, Jon Alterman Organizations: Saudi, Service, Saudi Aramco, World Energy, Financial Times, West, Nikkei, Aramco, Center for Strategic, International Studies, China Economic, Security Locations: China, Saudi Arabia, Saudi Aramco, Saudi, Rotterdam, East Asia, Beijing, Saudi Arabian, Iran, United States

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