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☆ Citadel's Ken Griffin buys a stegosaurus for $45 million in a record auction sale
▼ + stars: | 2024-07-18 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

People look at a virtually complete Stegosaurus fossil on display at Sotheby’s on July 10, 2024 in New York City. Billionaire investor Ken Griffin, founder and CEO of hedge fund Citadel, purchased a late Jurassic stegosaurus skeleton for $44.6 million at Sotheby's on Wednesday, marking the most valuable fossil ever sold at auction. The 150 million-year-old stegosaurus named "Apex" measures 11 feet tall and nearly 27 feet long from nose to tail and it is a nearly complete skeleton with 254 fossil bone elements. Griffin won the live auction in New York on Wednesday after competing with six other bidders for 15 minutes. In 2021, he paid $43.2 million for a first-edition copy of the U.S. Constitution, outbidding a group of cryptocurrency investors.

Persons: Ken Griffin, Griffin, Apex, Sotheby's, outbidding Organizations: Billionaire, Citadel, Apex, Chicago's, Museum, Constitution, Crystal Bridges Museum of American Art Locations: New York City, New York, U.S, America, Moffat County , Colorado, Argentina, Arkansas

☆ Opinion: The Mideast conflict on campus is too simplistic
▼ + stars: | 2024-01-17 | by ( Peter Rutland | ) edition.cnn.com time to read: +7 min

Many college students are taught that American society is the product of “settler colonialism” — a history of conquest and exploitation. In this simplistic framing, the plight of the Palestinians is just one more example of the familiar evils of settler colonialism. The Gaza war is better understood as a conflict between two competing nationalist projects than as a case of settler colonialism. There are a number of inconvenient historical truths that complicate the “settler colonialism” narrative. Another problem with the settler colonialism narrative is that it treats each side as a monolithic actor, playing the role of colonizer and victim, respectively.

Persons: Peter Rutland, Olivia Drake, Benjamin Netanyahu, Israel ”, ”, —, Israel, Raphael Lemkin, colonizer, Netanyahu, Abraham Organizations: Wesleyan University, Association for, Nationalities, CNN, Harvard, University of Pennsylvania, United, Palestine, Palestinian, Austrian, West Bank, Abraham Accords, United Arab, Arab League Locations: Russia, Europe, Eurasia, Israel, United States, Gaza, Israel’s, Americas, Palestine, Vienna, Vilnius, Lviv, Russian, Galicia, Egypt, Jordan, Bosnia, Northern Ireland, Saudi Arabia, United Arab Emirates, Bahrain, Morocco, Sudan, Palestinian, Iran, Turkey, Qatar, Cairo

☆ Case for gold fever: NewEdge Wealth sees record rush intensifying
▼ + stars: | 2023-12-02 | by ( Meredith Mutter | ) www.cnbc.com time to read: +2 min

The record gold rush may intensify into year-end. According to NewEdge Wealth's Ben Emons, the final month of the year typically creates a bigger appetite for the yellow metal. We get a recession maybe, maybe not," said Emons. "At the same time, gold rallies when there's this risk-on feel in the markets, and that's really when real rates and interest rates are declining. In a note to clients this week, Emons wrote that months for both gold and stocks are a "rare combo."

Persons: NewEdge Wealth's Ben Emons, It's, CNBC's, Gold, Emons, Guy Adami Organizations: Dow

But 18-24 months later, the acute phase of the adjustment is complete, with energy inventories comfortable and prices reverting towards long-term inflation-adjusted averages. Chartbook: Europe's energy supplies and pricesThere will undoubtedly be more shocks in future, but the disruption associated with the end of the pandemic and Russia’s invasion of Ukraine is over. Europe’s residual issue is that it has swapped relatively cheap Russian pipeline gas for relatively expensive LNG, putting its industrial competitiveness at risk, but that is a chronic problem rather than a crisis. OILIn the oil market, U.S. domestic crude and condensates production has continued to increase and surpassed its pre-pandemic peak in August 2023. Related columns:- China braces for record winter electricity demand (November 24, 2023)- Europe’s gas crisis is over, but not the painful adjustment (November 21, 2023)- Oil prices slump as fundamentals reassert themselves (November 9, 2023)- Europe's record gas stocks start to pressure prices (November 7, 2023)John Kemp is a Reuters market analyst.

Persons: John Kemp, Jan Harvey Organizations: U.S, Brent, Thomson, Reuters Locations: Europe, Asia, Ukraine, U.S, Saudi Arabia, Germany, Italy, France, Netherlands, Spain, Belgium, Poland, Northwest Europe, China, Russia, South, East Asia, Brazil

☆ Maldives election: could be key for China, India rivalry
▼ + stars: | 2023-09-06 | by ( Mohamed Junayd | ) www.reuters.com time to read: +3 min

A Progressive Party of Maldives worker poses with an "India Out" flag in Male, Maldives, March 21, 2022. REUTERS/Alasdair Pal/File Photo Acquire Licensing RightsMALE, Sept 6 (Reuters) - A presidential election in the Maldives on Saturday could be decisive in determining whether China or India win a competition for influence over the tiny Indian Ocean island chain. While India has longstanding cultural, financial and security ties with the Maldives, China has in recent years invested in infrastructure projects as it builds closer ties and pursues its Belt and Road vision of transport and energy networks. India, which denies that, is helping to build a naval harbour for Maldivian forces, who will be trained by the Indian military. Reporting by Mohamed Junayd in Male; Writing by Krishn Kaushik; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Alasdair Pal, Ibrahim Mohamed Solih, Mohamed Muizzu, Ahmed Shaheed, Shaheed, handouts, Solih, Muizzu, Mohamed Junayd, Krishn Kaushik, Robert Birsel Organizations: Progressive Party of, REUTERS, Reuters, Baani, Progressive Party, People's National Congress, Solih's Maldivian Democratic Party, Thomson Locations: Progressive Party of Maldives, India, Male, Maldives, China, Solih's

Sports gambling powerhouse DraftKings has made a $195 million, all-cash offer for PointsBet's U.S. assets, it said on Friday, as it looks slow down the rise of Fanatics. The offer comes a month after Fanatics agreed to buy the Australian company for $150 million in an effort to boost its presence in sports gambling. "We believe DraftKings is uniquely positioned to submit this superior proposal due to our scale and corresponding ability to generate meaningful synergies from the acquisition." Fanatics CEO Michael Rubin told CNBC after the announcement that he's highly skeptical of the deal, which he views as DraftKings attempting to slow Fanatics down. "It's a move to delay our ability to enter the market," Rubin said.

Persons: DraftKings, Jason Robins, Michael Rubin, Rubin Organizations: Sports, PointsBet's U.S, CNBC Locations: United States

☆ Stocks making the biggest premarket moves: Virgin Galactic, Adobe, SoFi, Cava and more
▼ + stars: | 2023-06-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading:Virgin Galactic — Shares soared nearly 45% in premarket trading, a day after the company said its first commercial space tourism flight is set for later this month. Adobe — The tech stock rallied nearly 5% following its earnings and revenue beat after the bell Thursday. SoFi Technologies — Shares dropped about 6% after being downgraded by Piper Sandler to neutral from buy. Cava Group — The newly debuted restaurant stock rose more than 4% in premarket trading on Friday, extending its massive gains from Thursday's session. DraftKings — Shares rose more than 1% after the online betting company made a $195 million offer for PointsBet's U.S. assets, outbidding Fanatics.

Persons: Piper Sandler, Oppenheimer, Cava, —, Jesse Pound Organizations: Virgin Galactic —, Adobe, Markets, Micron Technologies, Bloomberg, Micron, DraftKings, PointsBet's U.S Locations: India

☆ Nvidia to build Israeli supercomputer as AI demand soars
▼ + stars: | 2023-05-29 | by ( Steven Scheer | ) www.reuters.com time to read: +2 min

JERUSALEM, May 29 (Reuters) - Nvidia Corp (NVDA.O) said on Monday it was building Israel's most powerful artificial intelligence (AI) supercomputer to meet soaring customer demand for AI applications. Gilad Shainer, a senior vice president at Nvidia, said Nvidia worked with 800 startups in Israel and tens of thousands of software engineers. Shainer said AI was the "most important technology in our lifetime" and that to develop AI and generative AI applications large graphics processing units (GPUs) were needed. Nvidia bought Israeli chip designer Mellanox Technologies in 2019 for nearly $7 billion, outbidding Intel Corp.Shainer said Nvidia's first priority for the supercomputer was its Israeli partners. Last week, Nvidia said it had worked with Britain's University of Bristol to build a new supercomputer using a new Nvidia chip that would compete with Intel and Advanced Micro Devices Inc.

☆ Morgan Stanley CEO James Gorman plans to step down after years of making the bank the envy of Wall Street. Here's a look at his legacy.
▼ + stars: | 2023-05-19 | by ( Rebecca Ungarino | Alex Morrell | Dakin Campbell | ) www.businessinsider.com time to read: +11 min

Morgan Stanley CEO James Gorman said he will step down in the next 12 months. Morgan Stanley CEO James Gorman was giddy. Seeking stabilityTo understand where Morgan Stanley is now, you need to return to the peak of the financial crisis. It didn't take long before Morgan Stanley began utilizing its new license to acquire clients' deposits, reducing its reliance on wholesale funding. Mack, who helped design the 1997 Morgan Stanley and Dean Witter merger, had been pushed out by Purcell in 2001.

☆ Jack Dorsey no longer thinks Elon Musk is the right person to run Twitter
▼ + stars: | 2023-05-01 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Washington CNN —Former Twitter CEO Jack Dorsey backtracked Saturday on his earlier endorsement of Elon Musk as the right choice to lead the company, speaking out against the billionaire who, for the past six months, has led Twitter through a series of largely self-inflicted crises. Under Musk, Twitter has slashed most of its staff, suffered frequent service disruptions and made a number of controversial changes to its policies and features, including a recent decision to remove blue checks from VIP users who don’t pay to be verified. Dorsey’s reflections, outlined in Bluesky posts reviewed by CNN, highlight the Twitter founder’s growing disillusionment with Musk. They also come after numerous exchanges in recent months where Dorsey has publicly questioned some of Musk’s decision-making. Confronted by criticism from other Bluesky users that Twitter could have gone in a different direction, Dorsey argued that there was nothing stopping someone else from outbidding Musk.

☆ Inside Ken Griffin's rise to one of Wall Street's most powerful people, and why politics could be next
▼ + stars: | 2023-01-23 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +30 min

JB and I are not on speaking terms these days," said Ken Griffin, the billionaire hedge-fund manager, referring to JB Pritzker, the Democratic governor of Illinois. As Florida rolled back pandemic restrictions more quickly than Chicago, even more Citadel employees migrated south. Ken Griffin's hedge fund has had a run of eye-popping returns since 2020. Others worry that it gives Griffin's hedge fund an unfair advantage. Hundreds of Citadel employees, partners, and families gathered at the Orange County Convention Center in Orlando Florida.

☆ 3 reasons why the US labor shortage may never be solved
▼ + stars: | 2022-12-16 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Federal Reserve Chair Jay Powell said that there's a "structural labor shortage" happening right now. The structural labor shortage means workers will still hold the upper hand for years. "It feels like we have a structural labor shortage out there," Powell said. It's not a new thought, but it's one that's become increasingly held as the short-term — and potentially long-term — labor market continues to be extremely tight. Labor market data shows that plenty of them are getting hired.

A farmer spreads nitrogen fertilizer in his wheat field in Blecourt, France, May 27, 2021. Russia, under financial sanctions, is a major producer of fertilizer and natural gas, key in making nitrogen products to boost yields of corn and other crops. Since Russia's February invasion of Ukraine, Europe started weaning itself off Russian natural gas and a pipeline transporting ammonia from Russia to a Ukraine port shut down. European countries typically buy most of their imported urea, a form of nitrogen fertilizer, from North Africa, but are now purchasing it further afield, Wallace said. EU nitrogen prices eased in mid-October as some European plants resumed production due to softening natural gas prices, he said.

☆ Germany, Netherlands propose EU-wide plan to curb gas prices
▼ + stars: | 2022-10-12 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

BRUSSELS, Oct 12 (Reuters) - Germany and the Netherlands have proposed a package of 10 measures that the European Union could use to curb gas prices and avoid fuel rationing, including looking into setting a new benchmark price for liquefied natural gas. The plan, seen by Reuters and shared with other EU countries before the bloc's energy ministers meet on Wednesday, calls for the EU to kickstart joint gas buying, to avoid one country outbidding another and driving prices higher. They said a broad gas price cap on imports was a less preferable option. A price cap on Russian gas could also be considered, but only if workable for the countries it would affect most, the document said. Brussels proposed a Russian gas price cap last month, but shelved the idea after resistance from central and eastern countries that feared Moscow would retaliate by cutting off the limited supplies it still sends to Europe.

☆ I've been a broker in NYC for 10 years and I've never seen the rental market this crazy. Here's my advice for beating the competition for an apartment.
▼ + stars: | 2022-07-27 | by ( Ameena Walker | ) www.businessinsider.com time to read: +6 min

He says right now, renters aren't questioning rental fees, and deals are much harder to come by. I'm not exaggerating when I say that I've never seen the rental market as crazy as it is right now. But this year, the rental market has returned stronger than ever and the pent-up demand has been great for property owners, agents, and brokers like myself. Apartment seekers aren't questioning rental fees, and deals on new leases are much harder to come by. My advice for anyone looking to secure their next NYC apartment is be extra preparedUnderstand that the market is highly competitive right now and things are moving at lightning speed.

☆ The young lawyer who became the 'Don Quixote' of canceling student debt
▼ + stars: | 2021-05-29 | by ( Cezary Podkul | ) www.businessinsider.com time to read: +24 min

The victory marked the starting point for what's become Smith's raison d'être to help as many student loan borrowers as possible. But of those who did, around 60% managed to get a discharge of some portion of their student debt, Iuliano found. And thanks to a widely-held belief that student debt is categorically exempt from discharge, few are willing to take that chance. "I have $50k student debt, no degree, was a victim of attempted murder, out of work, and homeless," reads another. Austin SmithEventually, he says, he vowed to make it his life's cause to help the student loan borrowers.

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