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☆ GameStop, AMC extend gains but broader meme stock rally shows signs of fizzling
▼ + stars: | 2024-05-15 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +1 min

GameStop and AMC logged further gains in premarket trading as the broader meme stock frenzy fizzled early on its third day, with Blackberry shares flat and Koss edging lower. Brick-and-mortar video game retailer GameStop was up 10.16% at 6:40 a.m. The meme stock craze resurged on Monday, seemingly reignited by a rare social media update from "Roaring Kitty." The return of the meme stock phenomenon brought GameStop and AMC shares up over 70% on Monday, with the stock extending gains into Tuesday. Speaking on CNBC's "Street Signs Europe" on Tuesday, Smead Capital Management CEO Cole Smead described the meme stock craze as "frankly stupid."

Persons: Keith Gill, Gill, Cole Smead, —, Yun Li Organizations: GameStop, AMC, BlackBerry, Massachusetts Mutual Life Insurance, Smead Capital

☆ Tesla's reign as EV king is fizzling, so Elon Musk has his sights set on a new goal — turning X back into Twitter
▼ + stars: | 2024-04-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

Tesla's stock is down over 10% in the last year, and Elon Musk's net worth has also fallen. Lately, social media platform X has begun to look more like regular old Twitter. With his social media venture, X, that seems to mean returning to the app to the pre-Musk days of plain old Twitter. Musk and representatives for Tesla and X did not respond to requests for comment from Business Insider. "Honestly, the best thing that Twitter can do to regain its position is to sideline Musk.

Persons: Tesla, Musk, —, Elon, Gabor Cselle, CNN's Oliver Darcy, David Camp, Metaforce, Camp, X, Cselle, Ed Zitron, Kim Kardashian, Jay, Zitron, Linda Yaccarino, Yaccarino, he's Organizations: Elon, Service, Twitter, NBC News, Variety, Business, Camp Locations: China, Texas

☆ Premarket stocks: Warren Buffett’s favorite indicator is flashing red
▼ + stars: | 2024-03-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The “Buffett Indicator” is flashing red. If the stock market is growing a lot faster than the economy, that could be a sign of a bubble. Yes, but: The so-called Buffett Indicator is not without flaw. By the closing bell, Trump Media ended at $57.99, up by a more modest 16% on the day. He said Trump Media is likely worth somewhere around $2 a share — nowhere near its closing stock price of $58.

Persons: Warren Buffett, Fortune Magazine “, Berkshire Hathaway, John Hussman, Hussman, Larry Summers, “, ”, Louis Navellier, Goldman Sachs, Navellier, doesn’t, Buffett, they’re, Jamie Dimon, Kevin Gordon, Charles Schwab, Elisabeth Buchwald, Donald Trump’s, CNN’s Matt Egan, Jay Ritter, Ritter Organizations: CNN Business, Bell, New York CNN, Fortune Magazine, Nvidia, Federal Reserve, Bloomberg, Navellier, Associates, “, JPMorgan, CNBC, CNN, Visa, Mastercard, Court, Eastern, of, National Retail Federation, Trading, Trump Media & Technology Group, Trump Media, University of Florida’s Warrington College of Business, GameStop, AMC Locations: New York, of New York

☆ It’s not you, it’s them: Engaged couples are cutting back on lavish weddings
▼ + stars: | 2024-03-17 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

The obsession with lavish weddings grew to a fever pitch in the years following the start of the Covid-19 pandemic. That’s bad news for wedding vendors who provide services like videography, photo booths and catering. Meanwhile, those vendors are facing a more worrisome existential threat: a looming drop in the overall number of weddings. But she said that so far in 2024, weddings are “cooling a bit.”A recent wedding where Gabrielle Stone served as the planner. In another life, some of those would-be couples who never met in 2020 could have gotten engaged this year.

Persons: ”, Shane McMurray, What’s, McMurray, Gabrielle Stone, ” Stone, Stone, Kay, Jared, Gina Drosos, “, Z, ” McMurray, Toni Burrowes, Burrowes, didn't, Toni Burrowes “, Alyssa Young, We've, Alyssa Young “, it’s, ” Young, It’s Organizations: CNN, Signet Jewelers, Kay Jewelers, Signet, Alpha, University of Virginia, Brigham Young University, Bureau of Labor Statistics Locations: Boston, Zales, Central Florida, San Antonio, Texas

FORT LAUDERDALE, Fla. (AP) — Lionel Messi and Inter Miami closed out their tumultuous Major League Soccer preseason with a 1-1 draw against Messi's boyhood club, Newell's Old Boys on Thursday night. Messi checked out of the game Thursday with Inter Miami's Luis Suárez in the 60th minute. Photos You Should See View All 33 ImagesShanyder Borgelin put Inter Miami ahead 1-0 with a header in the 64th minute, and Newell's Franco Díaz tied it in the 83rd minute. Inter Miami set off on a global tour of exhibition games aimed at promotion and marketing, featuring Messi and the Uruguayan star Suárez. Inter Miami was outscored 12-7 in its first five games before a win in Hong Kong.

Persons: — Lionel Messi, Ballon d’Or, Gerardo “ Tata ” Martino, Messi, Martino, Inter Miami's Luis Suárez, Borgelin, Newell's Franco Díaz, Messi's, Suárez, Leo, Luis Suarez, ” Martino, Luis, fizzling, ___ Organizations: Inter Miami, Major League Soccer, Messi's, Newell's, FC Barcelona, Inter Miami's, Messi, MLS, Uruguayan, ” Inter Miami, Salt Lake Locations: FORT LAUDERDALE, Fla, Rosario, Argentina, Hong Kong, Salt

☆ Death of Fringe Friendships: Making Gen Z Sad, Hurting Job Prospects
▼ + stars: | 2024-02-01 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +16 min

One of the biggest reasons for our shrinking social circles is the loss of fringe friends — casual friends that you enjoy seeing occasionally. These relationships might seem trivial or inconsequential, but experts and research indicate that fringe friends are vital. But now these fringe friend groups are disappearing, and we're all worse off for it. AdvertisementGlimmers of hope for Gen ZThe decline in fringe friends has also created a generational divide when it comes to who's doing well socially. There's no real solution to the loss of fringe friends.

Persons: Nikol Moses, Moses, Gen, would've, That's, —, Gen Zers, It's, Juliana Horowitz, Daniel Cox, Cox, what's, he'd, we've, Danielle Bayard Jackson, Long, Evan Paul Cudworth, Cudworth, Anna Goldfarb, I've, he's, Pew's Horowitz, Jackson, she'd, Goldfarb, it's, — Moses Organizations: Brisbane —, IRL, Pew Research Center, Gallup, Pew, American Survey, Survey, Survey Center, American Enterprise Institute, bodega, Federal Reserve Bank of Philadelphia, Facebook, Social, DMs, Pew Research, American Locations: Melbourne, Brisbane, Brooklyn, New York

☆ I'm having horrible perimenopause symptoms. The most surprising one is rage.
▼ + stars: | 2024-01-24 | by ( Avital Norman Nathman | ) www.businessinsider.com time to read: +5 min

I'm 44 years old and going through perimenopause. I've had all the expected symptoms, but the hardest to manage has been rage. To be frank, they're all pretty horrible and uncomfortable, but so far, I've been finding ways to manage. However, the one symptom that crept up on me with no warning whatsoever has been pure, unadulterated rage. AdvertisementI just wish we could talk about perimenopause more.

Persons: I've, —, perimenopause, kickass crone, sweats, I'm Organizations: Service Locations: perimenopause, —

☆ DeSantis is fighting for his political life along Iowa’s icy campaign trail
▼ + stars: | 2024-01-14 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

But on the eve of the caucuses, DeSantis is on the brink in a state where he’s banked his entire campaign. Big donors soon discovered that the Florida governor could be a flat and uninspiring candidate. It was a cringeworthy moment that could become a pitiful emblem of busted hopes if the Florida governor doesn’t mount a comeback on Monday. “If the number that we have is anywhere close to reality, he’s going to have a very, very good night,” Vander Plaats said. An Iowa defeat for DeSantis would be especially bitter, because after months on the trail, he’s a far more polished candidate.

Persons: Ron DeSantis, Donald Trump, DeSantis, Nikki Haley, Trump, “, ” DeSantis, he’s, – Jeb Bush, Marco Rubio, Scott Walker, Haley, ”, Jake Tapper, It’s, Trump’s, Anthony Fauci, invigorated, weaponizing, she’s, DeSantis remorselessly, Ron, doesn’t, Mike Huckabee, Pennsylvania Sen, Rick Santorum, Texas Sen, Ted Cruz, Bob Vander Plaats, ” Vander Plaats, He’s, “ Donald Trump, Steve Deace, “ Ron DeSantis, ” Deace, postmortems, “ He’s, That’s, I’m, Fox, Bob Rommel Organizations: Des Moines , Iowa CNN, Florida Gov, Republican, GOP, Republicans, Des Moines Register, NBC, South Carolina Gov, PAC, Wisconsin Gov, South, Trump, Iowa, Walt Disney Company, Yale, Harvard, Elon, Twitter, CNN, West, Arkansas Gov, Texas, Fox News, Fox Locations: Des Moines , Iowa, Florida, Iowa, South Carolina, New Hampshire, “ State, Texas, West Des Moines, Pennsylvania, Urbandale , Iowa, Naples

KANSAS CITY, Mo. The Kansas City Chiefs managed to handle the adversity well. Political Cartoons View All 253 Images“Guys came with that attitude, that mentality — we knew it was going to be cold,” Mahomes said. The National Weather Service issued a warning for what it called “dangerously cold” weather that had blanketed the Midwest. Kansas City was far more efficient, scoring on four of its six first-half drives.

Persons: Patrick Mahomes, Andy Reid's, Mahomes, Rashee Rice, Isiah Pacheco, Harrison Butker, ‘ Let’s, ”, Tua Tagovailoa, Hill, ” Reid, “, Lombardi, Taylor Swift, Travis Kelce, ” Mahomes, Trent McDuffie, Rice, Christian Wilkins, roughing, Pacheco, Jevon Holland, Xavien Howard, DeShon Elliott, Kadarius Toney, Derrick Nnadi, ___ Organizations: KANSAS CITY, Kansas City Chiefs, Miami Dolphins, Chiefs, Miami, Super Bowl, Dolphins, Kansas City, Arrowhead, Bowls, Bills, Steelers, Houston, Browns, National Weather Service, Kansas, Pro Locations: KANSAS, Mo, Kansas, Miami, Buffalo, parkas, Kansas City, Germany

☆ 17-year-old used $2,000 in savings to start an Amazon side hustle—now it brings in $34,000 a month
▼ + stars: | 2024-01-05 | by ( Megan Sauer | ) www.cnbc.com time to read: +5 min

Bella Lin, 17, started a side hustle to give her guinea pigs more quality of life. In those days, Lin let her three guinea pigs roam her parents' grassy, fenced-in backyard just outside of San Francisco. She assumed the first, Snoopy, had escaped and she continued letting her guinea pigs outside — until her dad watched an eagle fly away with another, she recalls. But the glass was too expensive to ship, and her smaller guinea pigs' feet got stuck in the floor. Lin has owned guinea pigs for years, and has kept up to 10 at one time, she says.

Persons: Bella Lin, Lin, GuineaLoft's, —, TLeggings, Bella Lin Lin, who'd, Lin's Organizations: CNBC, Khan Lab, Amazon Locations: San Francisco, —, Mountain View , California, China, BizWorld

☆ Beijing is reportedly blocking big shareholders from selling stocks in a bid to sustain a market rally
▼ + stars: | 2023-11-27 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Beijing's stock exchange is stopping major shareholders from selling stocks, Reuters reported. Sales are being blocked in a bid to sustain a market rally, sources told the news agency. AdvertisementThe Beijing Stock Exchange is stopping big shareholders from selling stocks in a bid to sustain a market rally, Reuters reported. It's not clear how long the policy, which appears to be an attempt by the authorities to ensure a recent market rally doesn't fade, will stay in effect, per Reuters. The Beijing Stock Exchange is the youngest of China's three major exchanges.

Persons: —, didn't Organizations: Reuters, Service, Beijing Stock Exchange, Beijing Stock, CSI, China Securities Regulatory Commission, Business, China Morning Post, Financial Locations: Beijing, Shanghai, Shenzhen, Sichuan

☆ The IPO market has grown quiet again. Here's what is behind the shift in sentiment
▼ + stars: | 2023-11-09 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

"That was a big wet blanket" for the IPO market, Greg Martin from Rainmaker Securities told me. Buy now, pay later firm Klarna, another oft-mentioned IPO candidate, told CNBC it has no immediate plans to go public. This is in stark contrast to most years, when big IPOs went public in November and December. A month earlier, in November 2020, Sotera Health raised $1.1 billion, and Miravai Life Sciences raised $1.6 billion. By contrast, a normal year should see at least $50 billion raised.

Persons: Don Short, Matt Kennedy, Greg Martin, IPOs, Klarna, Rivian, Hertz, Braze, Sweetgreen, Allbirds, Airbnb, Doordash, it's fizzling, Instacart, Kennedy, Homebuilder Smith Douglas, Morgan Stanley, there's Organizations: New York Stock Exchange, NYSE, Renaissance Capital, Rainmaker Securities, Wall Street Journal, CNBC, Bloomberg, Sciences, Renaissance, That's, IPOs, Healthcare Locations: Cava, U.S

☆ Starbucks pays little mind to unions’ pay push
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

People gather outside a Starbucks location while singer Billy Bragg performs for striking Starbucks Workers United Union members in Buffalo, New York, U.S., October 12, 2022. Under Starbucks’ new wage plan announced Monday morning, only baristas with more than five years of experience will win 5% raises. All other employees will come in below the 4.1% jump in average hourly pay over the last 12 months, according to the Bureau of Labor Statistics. Part-time workers at United Parcel Service (UPS.N) won a 48% average pay hike over five years, akin to a 10% annual increase. While U.S. baristas continue to organize, contracts approved at two Canadian Starbucks stores suggests employees’ bargaining power is fizzling.

Persons: Billy Bragg, Lindsay DeDario, Ben Winck, Aston Martin, Lauren Silva Laughlin, Aditya Sriwatsav Organizations: Starbucks Workers United Union, REUTERS, Rights, Reuters, Starbucks, Bureau of Labor Statistics, United Auto Workers, General Motors, United Parcel Service, X, Paramount, Macquarie, Pfizer, Thomson Locations: Buffalo , New York, U.S

☆ Indian economy regains its swagger as China stumbles
▼ + stars: | 2023-11-03 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

New Delhi CNN —India’s economy is like an elephant. India’s economy is currently worth nearly $3.5 trillion, making it the world’s fifth largest. “India’s economy is comfortably placed to grow at an annual rate of at least 6% in the coming few years,” Barclays said. But even as India’s heft is increasing, it is far from recreating the economic miracle China unleashed decades ago. It will, no doubt — though it won’t be enough to shield the world economy should China’s economy stumble badly,” they added.

Persons: Narendra Modi, ”, Eswar Prasad, Modi, Prasad, Ludovic Marin, Mukesh Ambani’s, Gautam Adani’s, Willy Shih, Frederic Neumann, Justin Feng Organizations: New, New Delhi CNN, Economic, Cornell University, International Monetary Fund, China, Barclays, IMF, ” Barclays, Hindustan Times, Modi, bonanza, Unified, Bharat, Getty, Bank, Mukesh Ambani’s Reliance Industries, Apple, Harvard Business School, HSBC Locations: New Delhi, India, Switzerland, Davos, ”, ’, China, ” New Delhi, Sewri, Mumbai Bhushan, AFP, Beijing, Washington

☆ A new hope for Ukraine aid in Washington
▼ + stars: | 2023-10-27 | by ( Sahil Kapur | Julie Tsirkin | ) www.cnbc.com time to read: +3 min

WASHINGTON — There's a renewed hope for approving additional aid to Ukraine after House Republicans resolved their speaker paralysis, and as some hard-right lawmakers critical of new funding hint at a viable path to vote on it. One month ago, then-Rep. Mike Johnson, R-La., voted with 93 Republicans to cut off Ukraine aid. Now, as speaker, Johnson said he's asked White House staff "bifurcate" aid to Israel and Ukraine. But notably, some of those Republicans now say they could accept holding separate votes on Ukraine money, which they oppose, and aid to Israel, which they favor. Good also suggested pairing Ukraine aid with border security money and policy changes to the asylum system.

Persons: Mike Johnson, WASHINGTON —, Johnson, he's, Vladimir Putin, We're, Kevin McCarthy, McCarthy, Matt Gaetz, Bob Good, it's Organizations: Republican Conference, House Republicans, Republicans, White House, Fox News, Capitol, NBC, Biden, Republican, GOP, Republican House Locations: Longworth, Ukraine, Israel, U.S, China, Taiwan

☆ The stock market's volatility indicator is signaling a trough in the S&P 500
▼ + stars: | 2023-10-20 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

The stock market's volatility gauge is signaling a trough in the S&P 500. Futures for the CBOE Volatility Index indicated more uncertainty about the near term than longer term. Futures contracts tied to the volatility index, also known as the VIX, track the expected amount of market volatility down the line. It speaks to more anxiety about where the stock market is headed amid recession angst, the bond market rout, and mushrooming geopolitical risk. In September, the volatility index was trading at post-pandemic lows, signalling a strong bull market and fizzling recession fears.

Persons: —, Torsten Sløk Organizations: Service, Bloomberg, Apollo Locations: Israel

☆ Is the party over? New data suggests revenge travel may be ending soon
▼ + stars: | 2023-10-02 | by ( Monica Pitrelli | Morgan Awyong | ) www.cnbc.com time to read: +5 min

New reports show that, after years of inflation and rising travel costs, travelers may finally be curtailing their travel plans. Interest to travel also fell in Canada and Russia (-4 percentage points each), the survey showed. Source: Morning ConsultAs to whether this suggests pent-up demand is ending: "Yes, our data suggests that is so," said Lindsey Roeschke, travel and hospitality analyst at Morning Consult. "We are sticking with our call that the U.S. will enter recession around the turn of the year," the report states. Intentions to visit North America fell 23 percentage points from 2022 — far eclipsing a drop in interest from South Korea (12 percentage points) and Japan (9 percentage points).

Persons: Lindsey Roeschke Organizations: Travel, Morning, Oxford Economics, Oxford, U.S Locations: Europe, France, Germany, Canada, Russia, North American, Asia, Pacific, Malaysia, United States, U.S, China, Hong Kong, Macao, North America, South Korea, Japan

With short sellers looking to profit from the stock, it closed at $55.17 after touching a high of $69 on Friday. Arm shares underperformed the Philadelphia semiconductor index (.SOX), which closed down 0.96% on Tuesday as rising bond yields weighed on growth sectors such as technology. Short sellers need to borrow a stock to short it, and the relationship between shares on loan and shorted is normally quite close, according to Ortex. By comparison, Tesla (TSLA.O), a stock with a similar percentage of shorted shares, has a cost to borrow at 0.48%, Ortex said. Arm's higher cost to borrow "can be an indication that the demand to borrow, and short, the stock is high," Hillerberg said.

Persons: Dado Ruvic, Daniel Morgan, Morgan, Thomas Martin, Ortex, Peter Hillerberg, Hillerberg, Needham, Lewis Krauskopf, Sinéad Carew, Lisa Bernhard, Mark Potter, Matthew Lewis Organizations: REUTERS, Arm Holdings, ARM, Nvidia, GLOBALT Investments, Bernstein, underwriters, Klaviyo Inc, Thomson Locations: Philadelphia, Atlanta, New York

Giant cranes are seen at the Hanjin Shipping container terminal at Incheon New Port in Incheon, South Korea, September 7, 2016. REUTERS/Kim Hong-Ji Acquire Licensing RightsSept 13 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The real fireworks will come after Asian markets close, with the release of U.S. CPI for August. Annual core inflation is expected to ease to 4.3% from 4.7%, but headline inflation is predicted to rise to 3.6% from 3.2%. Year-on-year oil prices are now turning positive for the first time this year, something investors and policymakers could do without.

Persons: Kim Hong, Jamie McGeever, Brent, Kazuo Ueda, Josie Kao Organizations: Hanjin Shipping, Incheon New, REUTERS, U.S, CPI, Bank of Japan, Nikkei, Bank of America's, Thomson, Reuters Locations: Incheon, Incheon New Port, South Korea, Japan, China, Korea

☆ Stock Market Today: Dow Futures Hover; Bond Yields Rise
▼ + stars: | 2023-08-30 | by ( ) www.wsj.com time to read: +1 min

But futures trading early Wednesday suggests the rally could be fizzling out. German bond yields jumped. New data showed prices rising at a faster-than-expected rate in a key German state, raising concerns about a eurozone-wide inflation reading due Thursday. U.S. bond yields also gained. Germany’s DAX was a weak spot after the inflation data.

Persons: Bitcoin, Germany’s DAX, Idalia Organizations: Federal Reserve, Nasdaq, Dow, Treasury, Index, Nikkei Locations: Asia, Gulf of Mexico, Gabon

Aug 28 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The Asian economic calendar is light, with only Japanese unemployment and the latest industrial production, trade and inflation figures from Vietnam on tap. Trading volumes should return to more normal levels with UK markets open again. Fellow real estate developer China Resources Land publishes half-year results on Tuesday, while Evergrande shares trade for a second day after Monday's long-awaited reopening. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jamie McGeever, Gina Raimondo, Terry Gou, Josie Kao Organizations: Stock, financials Bank of China, Garden, Land, U.S . Commerce, Washington, Apple, Monday, . Commerce, Thomson, Reuters Locations: Beijing, Vietnam, China, Ukraine, Japan

☆ The hits keep coming for China's economy — its July report card missed expectations and it altogether omitted youth unemployment stats from the announcement
▼ + stars: | 2023-08-15 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

Industrial production rose 3.7% on-year in July, badly missing the analysts' target of 4.4%. Interestingly, the July economic report omitted any mention of youth unemployment statistics in the country. Most interestingly, the July economic report omitted any mention of youth unemployment statistics in the country. Youth unemployment soared to a record high of 21.3% in the second quarter of 2023, per the statistic bureau's June report. Instead, the country reported that urban unemployment was 5.3% in July, up from 5.2% in June.

Organizations: Bureau, Statistics, Service, Reuters, Exports, National Bureau of Statistics, CNBC Locations: Wall, Silicon, China

☆ On tap next week: Two key inflation reports and 4 Club earnings releases. Here's what we're looking for
▼ + stars: | 2023-08-05 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Economic releases : The Labor Department releases its monthly consumer price index and producer price index on Thursday and Friday, respectively. For that reason, we'd be content if the July figure doesn't indicate a resurgence of rising wholesale costs, which is a concern given a recent uptick in energy prices. On Tuesday before the opening bell, Club holding Eli Lilly (LLY) reports. Finally, Club names Walt Disney (DIS) and Wynn Resorts (WYNN) will report on Wednesday after the closing bell. In preparation for these releases, be sure to check out our first-quarter earnings report card .

Persons: we'll, Knight, Eli Lilly, We'll, donanemab, Walt Disney, We're, Tyson, Henry Schein, Li Auto, Armour, WEN, Ralph Lauren, Price, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Labor Department, Reserve, Manufacturing, ADP, Fitch, AAA, U.S ., PPI, Coterra Energy, Walt, Wynn Resorts, Disney, Tyson Foods, TSN, KKR, Energy, Paramount, UPS, Barrick, Duke Energy, Restaurant Brands, Warner Music, Fox Corp, NRG Energy, AMC, Bros, Endeavor, IAC, Sony, SONY, Brookfield Asset Management, WYNN, Trade, Novo Nordisk, US Foods, News Corp, Air Canada, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Getty Locations: United States, Mounjaro, Hollywood, Las Vegas, Boston, Macao, PENN, Valvoline, VVV, Credicorp, New York City

FILE PHOTO-A logo of German real estate company Vonovia, is pictured during a news conference in Duesseldorf, Germany, March 6, 2018. After a decade-long property boom, Germany is undergoing a sharp reversal of fortune after an era of cheap money ended. Germany's real estate sector is mired in its worst crisis in decades, marked by insolvencies, fizzling transactions, falling prices and a stagnation in construction jobs. Vonovia, which went public in 2013 at the start of the property boom and took over its biggest rival in 2021, serves as a bellwether for Germany's property sector. Vonovia affirmed full-year guidance for its key profit metric - so-called funds from operation - of 1.75 billion euros to 1.95 billion euros, down from 2.04 billion in 2022.

Persons: Thilo, Vonovia, Chancellor Olaf Scholz, Rolf Buch, Matthias Inverardi, Tom Sims, Miranda Murray, Friederike Heine, Kim Coghill, Alexander Smith Organizations: REUTERS, Reuters Graphics, Stifel, Thomson Locations: Duesseldorf, Germany

REUTERS/Kai Pfaffenbach/File PhotoFRANKFURT, July 27 (Reuters) - New construction plunged in Germany during the first half of the year, data on Thursday showed, the latest sign of stress in the property market of Europe's largest economy. The data underscore a steep rut that dominates the nation's real-estate sector in its worst crisis in decades. "There's strong caution in project development," said Sven Carstensen, chief executive of Bulwiengesa. The nation's property industry will ask the government for multi-billion euro support at a meeting with Chancellor Olaf Scholz in September, Reuters reported last week. "The situation is dramatic," said Jan-Marco Luczak, a parliamentarian who has pushed for a property tax cut demanded by industry.

Persons: Kai Pfaffenbach, Sven Carstensen, Chancellor Olaf Scholz, Marco Luczak, Marcus Gwechenberger, Bulwiengesa, Florian Schwalm, EY, Karim Rochdi, Tom Sims, Hugh Lawson Organizations: REUTERS, Bulwiengesa, Reuters, European Central Bank, Thomson Locations: Frankfurt, Germany, FRANKFURT, Frankfurt's

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