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☆ Why Shari Redstone is trying to sell Paramount — and why she needs the right deal
▼ + stars: | 2024-02-03 | by ( Alex Sherman | ) www.cnbc.com time to read: +9 min

When Redstone's father, Sumner Redstone, the founder of National Amusements, died in 2020, Shari Redstone inherited his shares. Paramount Global has a market capitalization of nearly $10 billion and about $13 billion of net debt. If she agrees to sell either National Amusements or all of Paramount Global, she'll need buy in from other investors. Talks are further along with Redstone regarding NAI than they are with Paramount Global, two of the people said. Paramount Global charges $5.99 per month for Paramount+ with advertising.

Persons: Shari Redstone, Mike Blake, it's, David Ellison, Byron Allen, SpongeBob, I'm, National Amusements Shari Redstone, Brendan Mcdermid, Redstone's, Sumner Redstone, Shari, John Malone, Bob Bakish, It's, Banker Byron Trott, Warren Buffett, Berkshire Hathaway, Skydance, Spokespeople, There's, CNBC's David Faber, Bakish, Jim Cramer Organizations: National Amusements, WSJ Tech, Reuters Paramount Global, Paramount, Paramount Global, Skydance Media, Paramount Pictures, CBS, Nickelodeon, Comedy Central, Hollywood, Allen, Co, Sun, Reuters, Amusements Inc, National, Warner Bros, Discovery, CNBC, Comcast, NBCUniversal, Paramount Global's, Amusements, U.S, Disney, Charter, CNBC Paramount Global, Viacom Locations: Laguna Beach , California, Israel, Sun Valley , Idaho, Wells Fargo, America, Berkshire, NAI, Skydance, U.S

But an Associated Press analysis of nearly 70 years of similar cases showed Trump’s case stands apart: It’s the only big business found that was threatened with a shutdown without a showing of obvious victims and major losses. “This sets a horrible precedent,” said Adam Leitman Bailey, a New York real estate lawyer who once sued a Trump condo building. But AP’s review of nearly 150 cases reported in legal databases found that in the dozen cases calling for “dissolution,” victims and losses were key factors. The New York attorney general who filed the lawsuit, Letitia James, said that helped the ex-president receive lower interest rates. In fact, the bank made its own estimates of Trump’s personal wealth, at times lopping billions from Trump’s figures, and still decided to lend to him.

Persons: — Donald Trump, “, ”, Adam Leitman Bailey, Arthur Engoron, Trump, Letitia James, Banks, Eric Talley, GENERAL’S, James, Engoron, William Thomas, Donald Trump Organizations: New, Trump, AP, TRUMP New York, Deutsche Bank, Columbia University, Trump’s New, University of Michigan Locations: New York, Trump’s New York, York, Lago, Florida, Chicago

“This is a basically a death penalty for a business,” said Columbia University law professor Eric Talley. Bank officials called to testify couldn’t say for sure if Trump’s personal statement of worth had any impact on the rates. His nonprofit Trump Foundation agreed to shut down in 2018 over allegations he misused funds for political and business interests. The Deutsche unit making the Trump business loans wasn’t the typical lending unit, but its private wealth division. A POTENTIAL COMPROMISETo be sure, the attorney general’s office has argued that there are larger issues than victim losses at play in Trump's case.

Persons: Donald Trump, “, ”, Eric Talley, it’s, Adam Leitman Bailey, William Thomas, Trump, that’s, Arthur Engoron, Engoron, Letitia James, Said, Kevin Wallace, ” Engoron, Jan, Gambino, Mar, Deutsche, ” Trump, Wallace, Jerry H, Goldfeder, University of Michigan’s Thomas, ” ___, Michael R, Jennifer Peltz, David Caruso, Rhonda Shafner Organizations: Associated Press, Columbia University, Deutsche Bank, Trump, Bank, University of Michigan, Republican, Democratic New, New York, LexisNexis, AP, Trump Foundation, Trump University, Deutsche, ”, Fordham University, University of Michigan’s Locations: Trump’s, New York, Democratic New York, York, Lago, Florida, Chicago, Miami , Los Angeles, Scotland, New, Manhattan, Sisak, Investigative@ap.org

Tesla plungesElon Musk and Tesla shareholders are at a crossroads. Shares are down roughly 8 percent on Thursday in premarket trading after Wednesday’s lackluster year-end results. He asked investors to look beyond 2024, predicting a “major growth wave” fueled by a low-cost Tesla model that will be built partly in Austin, Texas, and Mexico. The latest stock fall comes after Tesla reported that fourth-quarter profit nearly doubled to $7.9 billion — largely thanks to a one-time tax break. The company also declined to give detailed full-year guidance, but said it expected sales growth to be “notably slower.”

Persons: Tesla, Elon Organizations: Tesla Locations: North America, Europe, China, Austin , Texas, Mexico

☆ Can You Escape the Algorithm? ‘Filterworld’ Gives It a Try.
▼ + stars: | 2024-01-14 | by ( Alexandra Jacobs | ) www.nytimes.com time to read: +1 min

FILTERWORLD: How Algorithms Flattened Culture, by Kyle ChaykaThis dispatch began from an uptown location of Dig (formerly Dig Inn), a small chain of “fast casual” restaurants headquartered in New York City. The walls are white-painted brick, the tables are marble and the cardboard bowls are packed with colorful, healthy foodstuffs. Only the insipid pop music that blares through the speakers discourages lingering. Dig’s food, our “feeds”; their appetizers, our apps — they are all of a piece. Chayka has visited a lot of establishments with a similar aesthetic, which he has dubbed AirSpace, like a Nike sneaker, for its geographically neutral comfort.

Persons: Kyle Chayka, Kyle Chayka’s, “, ”, I’d, Chayka Organizations: Nike Locations: New York City, Kyoto

☆ Friday's jobs report will be a big signal for a market looking for good news
▼ + stars: | 2024-01-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

"This is a market that's gotten itself a little jazzed up about rate cuts and when they're going to happen," he said. "If the wheels are coming off the economic cart and the Fed has to rush in to stimulate that, that's bad rate cuts, right?" "The good rate cuts are if the path of inflation continues toward the Fed's target. That's a good rate cut. As usual, markets will be looking at more than the headline payrolls number for the health of the labor market.

Persons: Justin Sullivan, Dow Jones, Art Hogan, Riley Financial, Hogan, It's Organizations: Dow, Riley, Federal, Big Tech Locations: San Rafael , California

☆ Strong jet stream sees transatlantic aircraft fly at the 'speed of sound'
▼ + stars: | 2023-11-01 | by ( Julia Buckley | ) edition.cnn.com time to read: +5 min

There’s a difference between ground speed and speed in the air (indicated air speed, essentially the speed of the plane in relation to the air around it). The jet stream explainedThe jet stream is a “core of strong winds around five to seven miles above the Earth’s surface, blowing from west to east,” as the UK’s Met Office describes it. Seven miles above the planet’s surface is equivalent to around 37,000 feet – which means that aircraft at cruising altitude slip easily into the jet stream. “This increase in the temperature gradient is amplifying the speed of the jet stream, which is driven by temperature differences. Either way, these planes are saving time and money.”The jet stream is making planes go around 200mph faster than average.

Persons: NASA –, Storm Ciaran, that’s, Sara Tonks, ”, Derek Van Dam, Richard Branson Organizations: CNN, NASA, Concorde, Emirates, American Airlines, Delta, KLM, UK’s Met, Storm, Virgin Atlantic, Boeing, Virgin, British Airways Boeing Locations: Europe, Dallas, Dubai, Newfoundland, JFK, Heathrow, Los Angeles, London, 760mph, Miami, Amsterdam, ”, United States, 801mph, 560mph, 825mph, New York

☆ A Higher Monthly Payment, but Less Square Footage
▼ + stars: | 2023-10-17 | by ( Conor Dougherty | More About Conor Dougherty | ) www.nytimes.com time to read: +1 min

With interest rates rising and mortgage costs with them, homebuilders are pulling in yards, tightening living rooms and lopping off bedrooms in an attempt to keep the monthly payment in line with what families can afford. In a recent survey of architects, John Burns Research and Consulting found that about half expected their average house size to decline. New communities will have more duplexes or small-lot single-family homes that are just a few feet apart. Even in Texas, where land is abundant, builders are adding more homes per acre, the company found. “The monthly payment matters more than anything else and builders have responded with smaller, more efficient homes,” said John Burns, the company’s chief executive.

Persons: John Burns, ”, Hayden Organizations: John Burns Research, Consulting Locations: Texas, Pacific Northwest, exurbs

☆ Athletics-Ethiopia's Assefa smashes women's marathon world record in Berlin
▼ + stars: | 2023-09-24 | by ( ) www.cnbc.com time to read: +1 min

Tigist Assefa from Ethiopia wins the race with the new world record of 2:11:52h during the 2023 BMW Berlin-Marathon on September 24, 2023 in Berlin, Germany. Ethiopia's Tigst Assefa shattered the women's marathon world record in Berlin on Sunday, lopping off more than two minutes from the previous best to clock an official time of two hours 11 minutes and 53 seconds. Her remarkable victory overshadowed men's world record holder Eliud Kipchoge's record fifth victory on Berlin's quick and flat inner-city course. She clocked an hour six minutes 20 seconds at the halfway mark and was one of six women to be on world record time at that stage as the Berlin marathon lived up to its reputation as one of the world's fastest. She had no problem maintaining her pace and at the 37km mark she was just three seconds per kilometre slower than Kipchoge's time at the same stage, cruising to a sensational world record.

Persons: Tigist Assefa, Ethiopia's, Assefa, lopping, Kenyan Brigid Kosgei's, Eliud Organizations: Kenyan Locations: Ethiopia, Berlin, Germany, Paris

☆ Ethiopia's Assefa smashes women's marathon world record in Berlin
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: +3 min

BERLIN, Sept 24 (Reuters) - Ethiopia's Tigst Assefa shattered the women's marathon world record in Berlin on Sunday, lopping off more than two minutes from the previous best to clock an official time of two hours 11 minutes and 53 seconds. "I knew I wanted to go for the world record but I never thought I would do this time," said the 26-year-old, a former 800-metre runner. Her remarkable victory overshadowed men's world record holder Eliud Kipchoge's record fifth victory on Berlin's quick and flat inner-city course. Compatriot Vincent Kipkemoi was second, with a time of two hours three minutes 13 seconds and Ethiopia's Tadese Takele third. She had no problem maintaining her pace and at the 37km mark she was just three seconds per kilometre slower than Kipchoge's time at the same stage, cruising to a sensational world record.

Persons: Assefa, lopping, pulverise Kenyan Brigid Kosgei's, Eliud, Kipchoge, Vincent Kipkemoi, Tadese, Workenesh Edesa, Sheila Chepkirui, Tanzania's Magdalena Shauri, Karolos Grohmann, Hugh Lawson Organizations: pulverise Kenyan, Ethiopian Olympic, National Committee, Climate, Thomson Locations: Berlin, Paris, Kenya

☆ ETIAS and Europe's city taxes explained: When, who pays and how much?
▼ + stars: | 2023-08-24 | by ( Julia Buckley | Who Needs Etias Authorization | ) edition.cnn.com time to read: +8 min

The ETIAS visa waiver program will allow entry into EU countries from $7.70. And, of course, citizens of many countries need “real” visas to EU countries – which is not only a costly process, but a time-consuming one, too. ETIAS will join the myriad accommodation and “tourist taxes” that are already charged around Europe. What other tourist taxes are there in Europe? If your ship docks at Barcelona for 12 hours or more you’ll pay 4.75 euros (3 euros regional fee and 1.75 euros city surcharge).

Persons: ETIAS, you’re, They’re, Pretty, Armando Oliveira, iStockphoto, –, you’ll, Vila Real de Santo António, it’s, doesn’t Organizations: CNN, UAE, EU, United States ’, Manchester, Edinburgh, Vila Real de Santo Locations: Europe, United States, United Kingdom, Japan, Singapore, EU, Amsterdam, Wales, Barcelona, Italy, Portugal, Catalonia, Vienna, it’s, Algarve, Faro, Vila, Rome, Venice, Paris, France, Greece, Caribbean, New Zealand

☆ PayPal pays price for prolonged CEO hunt
▼ + stars: | 2023-08-03 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +3 min

NEW YORK, Aug 3 (Reuters Breakingviews) - The price of PayPal’s (PYPL.O) CEO hunt just grew by some $9 billion. An e-commerce boom during the pandemic lifted PayPal’s stock price to a record high of about $308 in mid-2021. PayPal fell short of the 22% operating margin forecast it told investors it would deliver in May, and it remains below its pre-pandemic 23% rate. The company’s shares were down 11% around midday New York time on Aug. 3. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Dan Schulman, It’s, Gabrielle Rabinovitch, Russell Reynolds, Schulman, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Nasdaq, PayPal, Apple Pay, Braintree, Thomson Locations: New York

☆ McDonald’s bet on viral success with its Grimace shake. TikTok users are pretending it killed them
▼ + stars: | 2023-06-28 | by ( Scottie Andrew | ) edition.cnn.com time to read: +5 min

Since the debut of the Grimace shake earlier this month, TikTok users have been excitedly ordering the shake, released in honor of McDonald’s character Grimace’s “birthday,” and then pretending to die on camera after consuming the purple beverage. They often dump the shake over their convulsing bodies, apparently signaling that Grimace, that bumbling bestie of Ronald McDonald, killed them. The Grimace shake, though, has become more infamous than beloved. In a typical “Grimace Shake” TikTok, an enthusiastic young person, Grimace shake in hand, will wish the big purple mascot a happy birthday before taking their first sip. When reached for comment, McDonald’s referred CNN to a tweet from Grimace: “meee pretending i don’t see the grimace shake trendd,” along with a photo of the purple one himself, eyebrows raised.

Persons: McDonald’s, Grimace’s, ”, Ronald McDonald, Matthew Prince, “ It’s, it’s, Grimace, J Balvin, Travis Scott, they’ve, Grimace wasn’t, execs, Ronald McDonald’s, Hamburglar, Bell’s, grimace, “ Organizations: CNN, Chapman University, buzzy, Wine, Wednesday Locations: California, ”

☆ Consumers are ‘retrenching.’ What that means for recession fears
▼ + stars: | 2023-05-03 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

But for consumers, the lengthy spell in the crossfire of persistently high prices and rising interest rates has taken its toll. Inflation-adjusted consumer spending was flat in March, marking the fourth time in five months that expenditures held steady or declined. “Further deterioration in the job market — the last remaining leg propping up the consumer — is bound to accelerate the downshift in consumer spending in the coming months. Private label growth is one of six indicators that Allison tracks to determine a consumer recession. “If you ask the economists, ‘Are we in a recession?’ they’re going to say ‘No, we’re not in a recession,’” he said.

☆ Tesla and other automakers are giving hefty discounts to make up for shrinking EV tax credits
▼ + stars: | 2023-04-07 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Not very many electric cars are expected to qualify for the EV tax credits as new rules set in. Automakers, who are pouring billions of dollars into making their product lineups electric, can't afford for their customers to not go EV. Lucid has already offered customers $7,500 off certain trims of its vehicles, which do not qualify for the federal tax credits by requirements around sticker price alone. And Tesla on Friday lowered the price of many of its vehicles, some of which will likely now no longer qualify for the tax credits. GM isn't anticipating turning a profit on electric cars until 2025.

☆ How you could save thousands on an electric car, even without tax credits
▼ + stars: | 2023-04-06 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Not very many electric cars are expected to qualify for the EV tax credits as new rules set in. It will take time for car companies to prepare their EVs and supply chains in order to qualify. Automakers, who are pouring billions of dollars into making their product lineups electric, can't afford for their customers to not go EV. Lucid has already offered customers $7,500 off certain trims of its vehicles, which do not qualify for the federal tax credits by requirements around sticker price alone. GM isn't anticipating turning a profit on electric cars until 2025.

☆ Ford hits back at Tesla's price cuts by lopping nearly $6,000 off the Mustang Mach-E
▼ + stars: | 2023-01-30 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

The price reductions for the Mustang Mach-E vary by trim level and performance package. At the highest end, the Mach-E GT with extended range now goes for $63,995, a $5,900 reduction from the previous price. Elon Musk's long-term play on the price cuts, which Deutsche Bank estimates could cost the company $7 billion in profits this year, could protect its customer base amid rising competition and increase its market share. Gjaja would not say how the price cuts impact Mach-E's profitability, only saying it would vary by trim level. Ford CEO Jim Farley has publicly set his sights on Tesla, vowing last spring to unseat Musk's car company as the top seller of electric vehicles.

The thing is, if you're going to open a credit card, a store card is rarely, if ever, your best option. Note that credit card lenders may use many different variations of credit score models when considering your application. Their interest rates are astronomicalIf you thought travel credit card interest rates were high, check out the rates on store credit cards. And that limit isn't exclusive to those who have taken out five of Chase's credit cards in the last 24 months, either — it applies to any credit card (except certain business cards), including store credit cards. Luckily, there are multiple ways to make sure you're getting a much better return on your retail spending, even without a store credit card.

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