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London CNN —Mining giant BHP has made a near-$40 billion bid to take over its UK rival Anglo American in what would be the largest mining deal on record. BHP said in a statement Thursday that it valued Anglo American shares at £25.08 ($31.40) apiece, or £31.1 billion ($38.9 billion) in total. The potential deal would have a higher value than the $38.3 billion acquisition of Switzerland’s Xstrata by commodities company Glencore in 2012, according to Dealogic data. It would also be the biggest merger or acquisition in the mining industry by value since Dealogic began collecting the data in 2004. Shares in Anglo American soared as much as 13.8% on the news.
Persons: BHP, Dealogic, , Mike Henry, ” Susannah Streeter, Hargreaves Lansdown, Rob North Organizations: London CNN — Mining, BHP, London Metals, Oz Minerals, United Kingdom’s, London Stock Exchange, City of, Hargreaves Locations: Australia, City, City of London
SK Hynix Inc. signage at the company's office in Seongnam, South Korea, on Monday, April 22, 2024. SK Hynix is the world's second-largest memory chipmaker after Samsung Electronics and supplies high-bandwidth memory chips catering to AI chipsets for companies like Nvidia . The explosive demand for AI chipsets boosted the high-end memory chip market, hugely benefiting players like SK Hynix and Samsung Electronics. To meet AI memory demand, the firm said it plans to increase supply of HBM3E – the latest generation of high-bandwidth memory for AI. SK Hynix said it will also introduce 32GB Double Data Rate 5 products this year to strengthen its leadership in the high-capacity server DRAM market.
Persons: SeongJoon Cho Organizations: SK Hynix Inc, SK Hynix, Bloomberg, Getty Images, South Korean, Revenue, Samsung Electronics, Nvidia Locations: Seongnam, South Korea, HBM3E
Lindsey and David Barber save 75% to 80% of their income for retirement and their son's future. Despite having enough to retire early, the millennial couple plans to keep working. AdvertisementLindsey Harrison Barber, 34, and her husband, David Barber, 35, have enough to retire early, but neither intends to slow down. Lindsey owns a marketing agency, while David owns an insurance agency, which bring in a combined eight figures in top-line revenue. Some are part of the FIRE movement — financial independence, retire early — though others are moving away from early retirement, whether to continue building generational wealth or transitioning to lower-stress roles that still give them something to do.
Persons: Lindsey, David Barber, they've, , Lindsey Harrison Barber, David, we've, we're, he's, hasn't, they're, she'll, they'll Organizations: Service, Business, North Carolina Locations: North Carolina , Texas , Kentucky, Ohio, Lindsey, North Carolina
I'm an only child and my mom had me when she was 20. As her only child I was responsible for taking her to all her appointments and caring for her. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . She inherited a rare gene mutation that makes it more likely a person will get cancer at a young age. Before learning about her cancer, the chances we'd end up in the same retirement home seemed fairly high.
Persons: , she'd, I've, I'm Organizations: Service
Analyst Edward Kelly upgraded the discount retailer to overweight from equal weight and opened a $180 price target. Yefremov's $400 price target indicates shares can jump 31.7% from Wednesday's closing price. Analyst Andrea Teixeira downgraded the energy drink maker to neutral from overweight and cut her price target by $7 to $59. — Alex Harring 5:38 a.m.: Wall Street reacts to Meta earnings Meta Platforms disappointed investors with its weak revenue guidance , sending shares down about 13% in premarket trading. His price target of $55 implies upside of 22% over the next 12 months.
Persons: Bernstein, Wells, Edward Kelly, shrinkflation, Kelly, — Alex Harring, Sherwin, Williams, Aleksey Yefremov, Yefremov, Doug Creutz, Creutz, Judas, Goldman, bullish, Goldman Sachs, Brooke Roach, Roach, Andrea Teixeira, Alex Harring, Ford, Wells Fargo, Colin Langan, Langan, LSEG, Eric Sheridan, Brian Nowak, Morgan Stanley, Doug Anmuth, Ronald Josey, Daniel Roeska, Roeska, General Motors, Fred Imbert Organizations: CNBC, General Motors, Traders, Grand Theft, Sony, Electronic Arts, TJX, TJX Companies, JPMorgan, Monster Beverage, Ford, Ford Pro, Facebook, Meta, Citi, mojo, General, GM Locations: Wells Fargo, Thursday's, Wednesday's, Michigan
The mom-of-two legally changed it to her beloved nickname as a birthday present to herself at 38. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . My 38th birthday was coming up in June 2000, and I knew exactly what I wanted to give myself as a present. I decided to legally change my birth name — which I hated — to my nickname. But my parents sometimes called me by my birth name, especially when they were angry or disciplining me.
Persons: Lissy Dunning, Phyllis, , Elaine, Patricia Elizabeth, Phyllis Diller, Alexander, Alex, They've, Autumn, I'd, I'm, I've Organizations: Service, Business Locations: Ohio, Michigan
CNN —Rafael Nadal said that he is trying to enjoy each moment he gets on a tennis court as he looks to extend his career while battling ongoing injury issues. Speaking to reporters ahead of the Madrid Open, Nadal – who has played only five matches this year – was doubtful about whether he will compete at next month’s French Open, a tournament he has won a record 14 times. Prior to that, he suffered a third-round exit at the Brisbane International in January before withdrawing from the Australian Open. He has won five titles at the Madrid Open, the last coming in 2017. “I’m going to be on court tomorrow,” he added.
Persons: CNN — Rafael Nadal, Nadal –, , , , Darwin, Nadal, ” Nadal, Carlos Moyá, Clive Brunskill, Alex de Minaur, “ I’m Organizations: CNN, Madrid, Barcelona, Brisbane International Locations: Paris, Madrid
Bitcoin is set for more price gains later this year, even after a recent retreat in prices, according to Standard Chartered's top crypto analyst. Geoffrey Kendrick, head of foreign exchange research, West, and digital assets research at Standard Chartered, said in a research note this week that he sees bitcoin rising to $150,000 per coin, and ether hitting $8,000 by the end of 2024 — doubling down on a bullish prediction from the bank earlier this year. Bitcoin temporarily sank below $60,000 last week as traders reacted to news of an escalating military conflict between Iran and Israel. Also, large long liquidations over the past couple of weeks mean that market positioning is a lot cleaner," Kendrick said. "As a result, with Middle East tensions easing I think it is time to re-engage in medium-term longs."
Persons: Geoffrey Kendrick, Kendrick, Bitcoin, bitcoin, That's Organizations: Standard Chartered, BTC, ETH, Securities and Exchange Commission, Treasury, HK Locations: Israel, Iran, United States, U.S
South Korea's largest entertainment agency Hybe is set to file an official police complaint against executives of its sublabel ADOR on charges of breach of trust and other offenses. The move comes after Hybe, which manages K-pop sensation BTS, opened an audit into ADOR on April 22 over allegations that CEO Min Hee-jin was aiming to take the sublabel independent. Min denied the allegations and accused Hybe of copying the concept of ADOR's girl group, NewJeans, for another girl group under a different Hybe subsidiary. Reports from South Korean media show a screenshot provided by Hybe of a message between Min and ADOR's vice CEO. In the message, the vice CEO outlined various methods to take the label independent, including approaching other investors and convincing Hybe to sell its stake in the sublabel.
Persons: Min Hee, Min, Hybe, auditee Organizations: CNBC, South Locations: ADOR
People living in RVs or cars has surged in Bozeman, Montana, as housing costs have spiked. "Urban camping" has made the city's unhoused population more visible. City officials say the number of Bozeman residents living in their RVs or cars spiked by 200% in two years, according to Montana PBS, which cited the city. "This — with urban camping, RVs, more cars — This is a recent phenomenon." "First, these folks are our residents too," the city website says when discussing how it's addressing urban camping.
Persons: , Terry Cunningham, Mayor Cunningham, Steven Ankney Organizations: Service, West ., Montana PBS, Bozeman, PBS, Bozeman Daily Chronicle, Resource Development Council Locations: RVs, Bozeman , Montana, Bozeman, Montana, , West, West . Bozeman, Yellowstone, Gallatin County
The Biden administration is correct that China has not played fair. But he said the nations that could rival China in shipbuilding are Asian competitors. Shipbuilding subsequently dropped to around five ships per year, which is approximately the current rate of U.S. shipbuilding. President Joe Biden speaks to members of the United Steel Workers Union at the United Steel Workers Headquarters on April 17, 2024 in Pittsburgh, Pennsylvania. Biden announced new actions to protect American steel and shipbuilding industries including hiking tariffs on Chinese steel.
Persons: Biden, Ben Nolan, Nolan, Reagan, Joe Biden, Jeff Swensen, , Darron, Wadey, Lloyd, Matson, George Washington, Ronald O'Rourke, O'Rourke Organizations: Mitsui Shipbuilding Co, Taicang Port Economic, Technological, Future Publishing, Getty, CNBC, Shipbuilding, Global, United States, Trade, U.S . Trade, U.S, China's Ministry of Commerce, United Steel Workers, Japan's Nippon Steel, United Steel Workers Union, United Steel Workers Headquarters, Analysts, Matson Shipping, Jones Act, Philly Shipyard, CMA CGM, Matson, United, Maritime Administration, U.S ., Huntington Ingalls Industries, News Shipbuilding, U.S . Navy, U.S Navy, Newport News Shipbuilding, Virginian Pilot, Tribune, Service, Force, warfighting, Navy, Biden, Congressional Research Service Locations: Taicang Port, Suzhou, Jiangsu province, China, U.S, Japan, South Korea, United States, Pennsylvania, Pittsburgh , Pennsylvania, American, Bangladesh, U.S . Virgin Islands, Great, Mississippi, Ohio
The strikes are doing serious damage to Russia's oil and gas sector. Bloomberg reported that Russia's oil refining is at an 11 month low. AdvertisementBloomberg earlier this week reported that Russia's oil refining is at an 11-month low because of flooding and Ukraine's drone campaign. Ukraine's attacks on Russian oil depots are one of the few bright spots in its war in recent months. "Future Ukrainian drone strikes may disable and disrupt more of Russia's refining capacity and inflict critical constraints on Russian refining that begin to substantially impact Russia's production of distillate products," the analysts said.
Persons: , Joe Biden's Organizations: Bloomberg, Service, AFP, Metallurgical, The Locations: Ukraine, Russia, Russia's Smolensk, Lipetsk, Russia's, Ukraine's, US
He also hiked his price target to $92 from $59, suggesting shares rallying 48.3% from where they closed on Tuesday. Analyst Jessica Reif Ehrlich raised her price target to $370 from $315, suggesting 22% upside from Tuesday's close. — Hakyung Kim 6:04 a.m.: Citi raises price target on Amazon Amazon is becoming a more profitable organization, according to Citi. The price target increase comes on the heels of Amazon's new grocery delivery subscription launch. He cited increased operating income projections amid strong top-line trends for his price target increase.
Persons: Tesla, Rob Sanderson, Sanderson, Forrest Li, Hakyung Kim, Jessica Reif Ehrlich, — Hakyung Kim, Ronald Josey, Josey, GenAI, Kim, Goldman Sachs, Mark Delaney, Delaney, Goldman, Joseph Spak, Spak, TSLA, Wells Fargo's Colin Langan, Langan, James Lee, Lee, Fred Imbert Organizations: CNBC, Mizuho, Bank of America, Spotify Bank of America, Spotify, Citi, Amazon Web Services, Revenue, UBS, Summer
CNN —The Arizona House of Representatives voted Wednesday to overturn the state’s 160-year-old abortion ban, setting the stage for a repeal that would leave the state’s 15-week restriction on the procedure in place. The vote comes after two failed attempts by state House lawmakers to bring the bill to the floor last week. If it succeeds, Arizona’s 15-week restriction on abortions will continue to be state law. That legislation stated explicitly that it did not overrule the 1864 law. Arizona state Rep. Stephanie Stahl Hamilton, left, hugs Arizona state Sen. Anna Hernandez after the state House voted to repeal the 1864 abortion law at the state Capitol in Phoenix on April 24, 2024.
Persons: Katie Hobbs, Roe, Wade, Doug Ducey, Stephanie Stahl Hamilton, Sen, Anna Hernandez, Rebecca Noble Organizations: CNN, Arizona, Arizona GOP, Democratic, Republican Gov, Reuters, Abortion, Arizona House, Republican Locations: Arizona, Phoenix
Experts say tattoos can impact hiring decisions, especially in customer-facing roles. Putnam, from California, said she went into the store to ask why she hadn't gotten the job, and the hiring manager told her she didn't have enough experience. The hiring manager also denied that her tattoos played any role in the rejection. AdvertisementAnother commenter, who said they used to be a hiring manager for the store, said: "I will tell you it's the facial piercings and tattoos." Ivy Johnson, for example, who also has many tattoos, said she had worked in corporate America as a hiring manager before starting up her apothecary business.
Persons: , Ash Putnam, Maxx, Putnam, hadn't, Putnam wasn't, TikTok, Putnam's, Ivy Johnson, Johnson, Adam Collins, isn't, Michelle Enjoli, Enjoli, Justina Raskauskiene, Rachel Pelta, Pelta Organizations: T.J, Maxx, Service, Business, Pew Research, University of Miami, Daily Locations: California, America
The startup, Read AI, closed a $21 million Series A funding round in April. Goodwater Capital led the round, with participation from existing investor Madrona Venture Group, which led the startup's $10 million seed round in 2021. David Shin, who co-founded Read AI alongside Robert Williams and Elliott Waldron, told Business Insider that the generative AI boom over the last year has supercharged what the startup can offer clients. Read AI offers multiple pricing plans, including a basic, free version for individual users as well as enterprise and enterprise plus accounts that cost $22.50 and $29.75 a month per user, respectively. Check out the 23-slide presentation Read AI used to raise $21 million in Series A funding.
Persons: David Shin, Robert Williams, Elliott Waldron, Read Organizations: Goodwater Capital, Madrona Venture Group, Business, Microsoft, Google, Read, Bloomberg Locations: Seattle
Tesla stock surged as much as 14% on Wednesday after the company reported 1st-quarter earnings. While the company badly missed analyst estimates, Elon Musk did commit to an affordable car. "We're updating our future vehicle lineup to accelerate the launch of our low-cost vehicles," Tesla said. So, I mean, if somebody doesn't believe Tesla is going to solve autonomy, I think they should not be an investor in the company," Musk said. While Ives remained bullish on Tesla stock, he did lower his price target to $275 from $300.
Persons: Elon Musk, Tesla, , Lars Moravy, Musk, robotaxi, it's, Dan Ives, Ives Organizations: Elon, Service, Tesla, Reuters, Wall Street
Read previewCity of Baltimore officials on Monday accused the owner and manager of the ship that crashed into the Francis Scott Key Bridge of allowing the vessel to set sail despite it being "clearly unseaworthy." "Reporting has indicated that, even before leaving port, alarms showing an inconsistent power supply on the Dali had sounded," the court petition reads. Authorities found that the 984-foot ship lost power as it navigated toward the bridge, causing it to lose propulsion. The crew on board broadcast a mayday call just before impact, allowing traffic police to seal access to the bridge. AdvertisementMeanwhile, President Joe Biden has said that the federal government will fund the reconstruction of the Key Bridge, and has agreed to disburse some $60 million in aid to the region.
Persons: , Francis Scott Key, Dali, Grace Ocean, Baltimore Mayor Brandon Scott, Joe Biden Organizations: Service, Synergy Marine, Business, Baltimore Mayor, Grace, Synergy, Port, Authorities, National Transportation Safety Board, FBI, Washington Post Locations: Baltimore, Maryland, Singapore, Port of Baltimore, Sri Lanka, Patapsco
Greenlight Capital's David Einhorn continued to pick up new stocks in the first quarter, including Penn Entertainment , as the longtime value investor struggles to find opportunities in the volatile market. He established the stake at an average cost of $22.69 per share, but the stock has fallen to $17.44 as of Wednesday. Still, Einhorn said sports betting, if executed right, could take the shares much higher. "Were the market to credit PENN with merely 15% of DraftKings' value, that segment alone would be worth $20 per share." Q4 buyer's strike Einhorn had stopped building new stock positions at one point in the fourth quarter, saying he was on a "buyer's strike" due to worries about intensifying geopolitical risks.
Persons: Greenlight Capital's David Einhorn, Einhorn, PENN, he's, Greenlight, — CNBC's Leslie Picker Organizations: Penn Entertainment, CNBC, Barstool Sports, Cornell grad, Greenlight Capital, HP, Roivant Sciences, Liberty Global
The newest entrepreneurs are both young and old and looking to grow their wealth through their businesses. The share of new Hispanic entrepreneurs rose from 8% in 2022 to 13% in 2023, Gusto found. Many new entrepreneurs are open to using AI tools and hiring remote workers, per the Gusto survey. The share of entrepreneurs who started a business while juggling another gig rose from 27% in 2022 to 44% in 2023. The Babson report found that most US entrepreneurs, 71%, were motivated by the prospect of boosting their wealth through their businesses.
Persons: They're, , Ewing Marion, Luke Pardue, Babson, Entrepreneurship isn't Organizations: Service, Bureau of Labor Statistics, Babson College, Midwest Women, Pew Research Center, Ewing Marion Kauffman Foundation, Bureau, Kauffman Foundation, Entrepreneurs, Business Administration, Entrepreneurship Locations: Midwest, New Hampshire, Minnesota, Montana, Northeast, West
Read previewInfluencers secure brand deals in many ways — some go right to the DMs of brands or even use Slack, while others rely heavily on talent managers or agents. AdvertisementNearly 55% of respondents listed social-media marketplaces as one of the three primary sources they use to secure brand deals. The data, however, does not account for the types of brand deals creators would require. For instance, some brand deals could be multi-channel sponsorships, while others could be affiliate links — which can vary in pay. Most creators said their partnerships with brands last a monthAbout 31% of creators reported that their brand deals typically last one month.
Persons: , Qianna Smith Bruneteau, We're, Smith Bruneteau, that's Organizations: Service, American Influencer Council, Business, AIC, influencer, LinkedIn
The launch of Intel 's latest artificial intelligence chip is expected to benefit three global semiconductor companies, according to Morgan Stanley. The semiconductor giant said the latest chip is twice as power-efficient and can run AI models one-and-a-half times faster than Nvidia's H100 GPU – the flagship product from the current AI chip market leader. In a research note Monday, the Wall Street bank said Taiwanese companies TSMC , Alchip , and Wistron are likely to be the biggest beneficiaries of the demand for Intel's Gaudi chips. In its note, Morgan Stanley reiterated its overweight rating on Alchip and TSMC, considering them long-term winners of AI semiconductor demand. The analysts are overweight on Wistron too, noting that Nvidia's new Blackwell GB200 AI chip will also drive immediate growth for the Taiwanese electronics manufacturer.
Persons: Morgan Stanley, Gaudi, Alchip, Wistron, Morgan Stanley's, Charlie Chan, Blackwell, — CNBC's Michael Bloom Organizations: Intel, Gaudi, Dell, Hewlett Packard Enterprise, Lenovo, Microsoft, Google Locations: United States
Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center in New York City, Nov. 29, 2023. Tesla shares surged 15% on Wednesday morning after CEO Elon Musk said the electric-vehicle company plans to begin production of new affordable EV models by early 2025. Musk's comments came during Tesla's earnings call on Tuesday after the company reported disappointing first-quarter numbers. The company previously expected to start production of the new EV models in the second half of 2025. UBS analysts on Tuesday reiterated their neutral rating of Tesla stock and lowered their price target to $147 from $160, saying they remain skeptical of the company's talk.
Persons: Elon Musk, Tesla, Musk's, Tesla's, Michael Bloom Organizations: New York Times, Jazz, Lincoln Center, Revenue, Bank of America, UBS Locations: New York City
It was ’90s basketball at its best.”The Mavericks were led by 32 points from Luka Dončić, who added yet another playoff win against the Clippers to his résumé, along with six rebounds and nine assists. The Clippers closed the gap again, but Dončić hit a clutch, step-back three-pointer over James Harden with 1:26 left in the game to extend Dallas’ lead to 90-81. The heat of the moment caused Dončić to turn to the Clippers crowd and roar in triumph. Keith Birmingham/MediaNews Group/Pasadena Star-News/Getty Images“Just staying poised and understanding that mistakes are going to happen, and it’s a playoff game,” he told the Mavs broadcast. Pacers level series against Bucks, Timberwolves extend lead over the SunsElsewhere, the Indiana Pacers leveled their first-round playoff series against the Milwaukee Bucks with an impressive 125-108 Game 2 road victory.
Persons: Jason Kidd, , ” Kidd, Luka Dončić, , Irving, Dončić, James Harden, ” Dončić, ” Irving, Kyrie Irving, Keith Birmingham, , “ It’s, we’ve, Harden, Paul George, Kawhi Leonard, ” Leonard, Pascal Siakam, Giannis Antetokounmpo, Damian Lillard, Jaden McDaniels, McDaniels –, Anthony Edwards, Devin Booker, Kevin Durant Organizations: CNN, The Dallas Mavericks, Los Angeles Clippers, Dallas, Mavericks, Luka, Clippers, MediaNews, Pasadena Star, Teams, ESPN, , Pacers, Bucks, Timberwolves, Suns, Indiana Pacers, Milwaukee Bucks, Minnesota Timberwolves, Phoenix Suns Locations: Dallas
Airbnb – The vacation property rental platform added nearly 2% following an upgrade by Mizuho to buy from neutral. Visa — Shares of the payment company rose more than 2% after stronger than expected results for the second fiscal quarter. Texas Instruments posted $1.20 per share on $3.66 billion in revenue, beating analysts' projections of $1.07 and $3.61 billion, respectively, per LSEG. Mattel saw $810 million in revenue during the quarterly period, which was less than the consensus estimate of $832 million. Enphase said to expect second-quarter revenue between $290 million and $330 million, under the consensus forecast of $349 million.
Persons: Mizuho, Elon Musk, Tesla, LSEG, , Enphase, Alex Harring, Samantha Subin, Jesse Pound, Brian Evans, Yun Li, Sarah Min, Michelle Fox Theobald Organizations: Boeing —, Boeing, Mizuho, Summer Olympics, Visa —, Visa, Revenue, Texas, Sea, Capital, Mattel, LSEG, Enphase Energy
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