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☆ There's a conservative 'great migration' from blue states — and one place is the big winner
▼ + stars: | 2024-04-18 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +5 min

Conservatives are fleeing blue states in favor of red states. Conservatives are fed up with the cost of living, and the politics, in blue states. AdvertisementConservatives are flocking en masse from blue states to one Republican stronghold in particular: South Carolina. Chabot said blue states need to take a page out of red states' playbook. "And so if these blue states want to get better, then they need to look at what red states are doing to retain their populations and their businesses."

Persons: —, Paul Chabot, he's, Chabot, Brad Liles, homebuyers, Zillow, Washington state's, It's, Lina Brock Organizations: Service, Republican, Wall Street, The State, New York Times, Washington, Times, Furman University, Forbes, Census Bureau Locations: Carolina, South Carolina, North Carolina , Georgia, New York , California, Florida, Virginia , Pennsylvania, Texas , New Jersey, Maryland, Texas, California, Washington, Oregon, Democratic, Spartanburg, Greenville , South Carolina, United States, Greenville, Black, —

☆ BP trims down executive team, picks new head of its gas and low carbon energy business
▼ + stars: | 2024-04-18 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

A general view of the BP logo and petrol station forecourt sign on January 22, 2024 in Southend, United Kingdom. British oil major BP on Thursday trimmed its executive team down to 10 members and announced William Lin as the new head of the firm's oil and low carbon energy business. BP said it was simplifying its organizational structure to help "grow the value" of the business. "These changes will help us do just that, reducing complexity within bp, allowing our team to focus on delivering our priorities and growing the value of bp," he added. The energy major said the financial reporting structure of the firm remains unchanged and that it will continue to have three businesses: production and operations, gas and low carbon energy and customers and products — enabled by trading and shipping.

Persons: William Lin, Lin, Isabel Dotzenrath, Emeka Emembolu, Ann Russell, Murray Auchincloss, BP's Organizations: United Kingdom ., IEC, London Locations: Southend, United Kingdom, Leigh

Within days, millions of TikTok videos using music from Universal artists went mute, and since then guessing which side would blink first has become a media-business parlor game. Backing this up, one study found that TikTok users reported experiencing higher levels of flow than Instagram users. Corey Basch, who analyzed 100 popular TikTok videos with the hashtag mentalhealth for a 2022 study, emerged concerned about the looping effect of the algorithm. Cerave Sales increased by more than 60 percent in 2020 after skin care became a lockdown pastime and TikTok users discovered the drugstore mainstay. Cat Crack Catnip It briefly sold out in 2021 after TikTok users posted videos of their cats going crazy for it.

Persons: randos, TikTok, you’ve, Sydney Sweeney, Glen Powell, ”, “ Wonka, Barbie, “ Oppenheimer, —, goofing, cavorting, Sue Fleishman, Z’s Walter Cronkite, Spehar, Donald J, Trump, he’s, Caitlin Clark’s, Joe Biden, Justin Bieber, Abbie Richards, Richards, Britney Spears, Taylor Swift, Olivia Rodrigo, Lil Nas X, Fleetwood Mac, Rodrigo, Billie Eilish, Drake, Swift, ByteDance, can’t, Mark Warner, hasn’t, Al, ear on, Li Organizations: Fleetwood Mac, Facebook, Sony, Universal, Warner Bros, White, Pew Research Center, YouTube, The New York Times, Kansas City Chiefs, Media, Colgate, Universal Music Group, ByteDance, Intelligence Committee, e Locations: United States, Beijing, Biden’s, TikTok, Singapore, View, Calif, China, American

New York CNN —Jury selection in Donald Trump’s hush money business fraud case began Thursday looking like the task of finding 12 jurors had run aground. Juror 11 was seated on the jury after Merchan denied Trump’s challenge to the juror for cause. Trump’s lawyers argued she should be dismissed because she said she does not like Trump’s “persona.”“I don’t like his persona,” she said. The district attorney’s office refused. Trump’s attorneys and the district attorney’s office also will get additional peremptory challenges for the alternate jurors.

Persons: Donald Trump’s, Juan Merchan’s, It’s, won’t, topsy turvy, Trump, Merchan, ”, “, “ It’s, Trump’s, it’s, Susan Necheles, she’d, Michael Cohen, he’s, Todd Blanche, Josh Steinglass, “ We’re, ” Merchan, Blanche, “ They’re, what’s, Sandoval, they’ll, Jean Carroll, that’s Organizations: New, New York CNN, Trump, CNN, Twitter Locations: New York, Manhattan, New Yorker

☆ A look at Taylor Swift’s economic power ahead of ‘The Tortured Poets Department’ release
▼ + stars: | 2024-04-18 | by ( Bryan Mena | ) edition.cnn.com time to read: +11 min

The commercially successful ‘Eras’ tourThe Eras tour was massively successful in 2023 and it’ll stretch through the end of this year. John Shearer/TAS23/Getty Images Swift performs in Glendale, Arizona, during the opening weekend of "The Eras Tour" in March 2023. John Shearer/TAS23/Getty Images Swift performs during the "Evermore" section of the show in Sydney in February 2024. John Shearer/TAS23/Getty Images Fans apply jewels on their way to Swift's show in Foxborough, Massachusetts, in May 2023. John Shearer/TAS23/Getty Images In pictures: Taylor Swift's 'Eras Tour' Prev NextShe is a generous boss, too, awarding $100,000 bonuses to Eras Tour truck drivers during the summer.

Persons: Washington CNN — Taylor Swift, Swift, It’ll, ” Armen Shaomian, StubHub, “, “ Taylor Swift, hasn’t, SeatGeek, Taylor Swift, Kevin Mazur, Natasha, Ethan Miller, John Shearer, Kevin Winter, Benjamin B, Braun, Jutharat, Phoebe Bridgers, Bridgers, Raymond James, Zack Wittman, Hector Vivas, Don Arnold, TAS24, Rachel Wisniewski, Terence Rushin, Haim, Jeff Kravitz, Erin Clark, Sarah Yenesel, Sabrina Carpenter, Bob Levey, TAS23, Christopher Polk, Allen J, Taylor, ”, that’s, That’s, doesn’t, Barack Obama, Angela Merkel, Pope Francis, ” Swift Organizations: Washington CNN, Poets Department, Fortune, University of South, CNN, Swift City, Pittsburgh, MetLife Stadium, New York Times, Lincoln Financial, Washington Post, Ticketmaster, Boston Globe, Penske Media, Los Angeles Times, Federal Reserve, ” AMC Locations: University of South Carolina, North America, East Rutherford , New Jersey, Chicago, Las Vegas, Nashville , Tennessee, Glendale , Arizona, Glendale, Swift, Los Angeles, Pittsburgh, East Rutherford, Nashville, Tampa , Florida, Mexico City, Kansas City , Missouri, Sydney, Philadelphia, Atlanta, Santa Clara , California, Foxborough , Massachusetts, Coney, Houston, Inglewood , California, Cincinnati, United States, Canada, AMC’s

☆ Gold shines as geopolitical tensions offset easing U.S. rate-cut bets
▼ + stars: | 2024-04-18 | by ( ) www.cnbc.com time to read: +2 min

An employee holds one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices climbed on Thursday, as risks of a widening Middle East conflict raised bullion's safe-haven appeal, overshadowing pressures from higher-for-longer U.S. interest rates. Spot gold was up 0.6% at $2,374.97 per ounce, as of 0429 GMT, after hitting an all-time high of $2,431.29 last Friday. Although, "U.S. interest rates remaining higher for a longer may be adding some pressure to the ongoing boost for gold ... Higher interest rates reduce the appeal of holding non-yielding bullion.

Persons: Kelvin Wong, Benjamin Netanyahu, Wong, Jerome Powell, Mario Centeno Organizations: Co, Asia Pacific Locations: Bangkok, Thailand, OANDA, Israel, Iran

☆ AI startup Stability lays off 10% of staff after controversial CEO's exit: Read the full memo
▼ + stars: | 2024-04-18 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Emad Mostaque, founder and CEO of Stability AI, speaks during the Bloomberg Technology Summit in San Francisco, California, US, on Thursday, June 22, 2023. Beleaguered artificial intelligence startup Stability is laying off employees after the exit of its controversial former CEO Emad Mostaque. The company's newly appointed co-CEOs Shan Shan Wong and Christian Laforte told employees in an email Wednesday night that the firm needed to "restructure parts of the business, which will sadly mean saying goodbye to some colleagues." "Those who are affected by this have been notified individually and we will be supporting them throughout this period," Wong and Laforte, who were previously chief operating officer and chief technology officer at the company, respectively, said in the internal memo. Stability AI's layoffs amount to about 10% of its global headcount, according to publicly available data online which shows the firm employs around 200 people in total.

Persons: Emad Mostaque, Emad, Shan Shan Wong, Christian Laforte, Wong, Laforte Organizations: Bloomberg Technology Summit, CNBC Locations: San Francisco , California

☆ US regional banks are still under pressure. That’s likely to continue
▼ + stars: | 2024-04-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Despite overcoming a crisis in 2023, the pain isn’t over for America’s regional banks. Shares of New York Community Bank have tumbled 71%, Bank OZK shares have slid 16% and Webster Financial shares have lost 11%. Regional banks reported wide losses on their profits during the first quarter. PNC projects that its net interest income will fall between 4% to 5% in 2024 from last year. “I’m worried about a handful of [regional banks],” Bair told CNBC on Tuesday.

Persons: that’s, Jerome Powell, “, ” Powell, Sheila Bair, “ I’m, ” Bair, ” Tesla, Tesla, Elon Musk, Chris Isidore, Musk, Chancellor Kathaleen McCormick, Read, Samantha Delouya, —, Maximilian Kotz, Leonie Wenz, Noah Diffenbaugh Organizations: CNN Business, Bell, New York CNN, Regional Banking, New York Community Bank, Bank OZK, Webster Financial, PNC Financial, T Bank, US Bancorp, Citizens, PNC, Valley Bank, Signature Bank, First Republic Bank, Federal Reserve, Wilson Center, Federal Deposit Insurance Corporation, CNBC, Tesla, Securities and Exchange Commission, United Nations, Potsdam, Climate, CNN, Stanford University Locations: New York, Delaware, ” Delaware

☆ Red Lobster, home of the endless shrimp, mulls bankruptcy after spoiling its customers with all-you-can-eat lobster: report
▼ + stars: | 2024-04-18 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

It may be the end of the line for the seafood chain Red Lobster, per Bloomberg. AdvertisementSeafood chain Red Lobster is considering filing for bankruptcy, Bloomberg reported Wednesday. According to the outlet, Red Lobster is being advised by the law firm King & Spalding. Red Lobster and King & Spalding did not respond to Bloomberg's requests for comment. Representatives for Red Lobster and King & Spalding did not immediately respond to requests for comment from Business Insider sent outside regular business hours.

Persons: —, Spalding, Red Lobster's, Ludovic Garnier, servings, Ian Borden, Borden Organizations: Bloomberg, Service, King, Spalding, Thai Union Group —, Golden Corral, Business Insider Locations: Maine

☆ India kicks off the world's largest elections this week. Here’s what you need to know
▼ + stars: | 2024-04-18 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +7 min

A worker fixes a flag of the ruling Bharatiya Janata Party on a hoarding of their leader and India's Prime Minister Narendra Modi on April 15, 2024. The 2024 general elections will pan out in seven phases over the next six weeks, starting April 19. India's meteoric riseUnder Modi's rule, India's economy has scaled to new heights. It is now the world's fifth-largest economy with a GDP of $3.7 trillion and has set its sight on becoming the world's third largest economy by 2027. Home to 1.4 billion people, the world's most populous country is the fastest growing economy in the world.

Persons: Narendra Modi, Idrees Mohammed, Hong Kong's, Modi, Suyash Rai, Joe Biden, Chietigj Bajpaee, Biden, Bajpaee, Rahul Gandhi, Rajiv Gandhi, Indira Gandhi, Jawaharlal Nehru, Amitendu Palit, Modi's, R.satish Babu Organizations: Bharatiya Janata Party, India's, Afp, Getty, Voters, Monetary Fund, Carnegie India, CNBC, White, Bloomberg, India, South Asia, Chatham House, BJP, National Democratic Alliance, Indian, Developmental Inclusive, Indian National Congress, Institute of South Asian Studies, National University of Singapore, NDA, Centre, of Foreign Relations, Reuters Locations: Lok Sabha, Lok, Hong, Washington, U.S, India, China, Raipur, Coimbatore

☆ Prince William resumes public duties after Kate’s cancer announcement
▼ + stars: | 2024-04-18 | by ( Lauren Said-Moorhouse | Max Foster | ) edition.cnn.com time to read: +3 min

London CNN —The Prince of Wales was back in action on Thursday, carrying out his first public engagements since his wife, Catherine, revealed her cancer diagnosis last month. William, 41, visited a surplus food charity in Surrey before he was expected to head to a youth center in west London. Kate’s cancer was found in tests following an abdominal surgery in January. William’s presence will be a welcome signal to royal-watchers that his wife is feeling well enough for him to resume public-facing duties. He made his most significant public appearance on Easter Sunday following the tradition family church outing.

Persons: Prince, Wales, Catherine, William, King Charles III, Prince William, Claire Hopkins, Alastair Grant, George, Charlotte, Louis, “, King Charles Organizations: London CNN, Surplus, Aston Villa, CNN’s Royal Locations: Surrey, London, Kensington, Sheffield, Birmingham

☆ This language app is JPMorgan's favorite online education play with nearly 40% upside
▼ + stars: | 2024-04-18 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

JPMorgan listed Duolingo as its best idea in online education ahead of the Pittsburgh-based tech firm's first-quarter earnings report in early May. With the mild downdraft since Duolingo's fourth-quarter earnings report, JPMorgan analyst Bryan Smilek said the stock's risk/reward ratio looks attractive at its current prices. DUOL YTD mountain DUOL YTD chart Smilek also said there may be additional room for potential upside to Duolingo's full-year 2024 outlook as part of its first-quarter numbers. Smilek praised Duolingo's strong advertising presence, saying it's resulted in rising user growth. As a result, passive index funds that track the midcap index and its value or growth subsets will be forced to buy Duolingo.

Persons: Duolingo, Bryan Smilek, Smilek, it's, Goldman Sachs, — CNBC's Michael Bloom Organizations: JPMorgan, 2Q, Allen, Co Locations: Pittsburgh, Wednesday's

Analyst Laura Champine also lowered her price target to $80 from $85, implying a 6% increase for the stock. "New York City office is one of the few REIT subsectors seeing improved demand," the analyst wrote. The bank double-upgraded the e-commerce platform to overweight from underweight and hiked its price target to $62 from $35. Feather added that eBay stock is currently trading at a discount versus peers, with Etsy trading around 35% higher. "JetBlue's DNA aligns with our broader preference for loyalty, premium, and international exposure ... albeit with less vigor than the Big 3," the analyst wrote.

Persons: TD Cowen, Morgan Stanley, Needham, Laura Martin, Andy, Martin, — Jesse Pound, Laura Champine, Champine, — Lisa Kailai Han, Tesla, Emmanuel Rosner, Elon Musk, Rosner, Fred Imbert, John Kim, Kim, SLG, KeyBanc, Eric Heath, Heath, Nathan Feather, Feather, James West's, West, Jamie Baker, Baker, Lisa Kailai Han, Matthew Ramsay, Ramsay Organizations: CNBC, Nvidia, Amazon, Wholesale, BJ's Wholesale, Deutsche Bank, Tesla, Reuters, BMO Capital Markets, Green Realty, New York City, SL Green Realty, SL Green, SL, KeyBanc, eBay, EBAY, GE, ISI, GE Vernova, General Electric, JPMorgan, JetBlue JPMorgan, JetBlue, Jetblue, Technology, NVIDIA, Match Group Locations: China, Manhattan, York City, Wednesday's, York

☆ They Graduated Into Gaza’s War. What Happened to Them?
▼ + stars: | 2024-04-18 | by ( ) www.nytimes.com time to read: +5 min

These college graduates in Gaza finished training just one week before the war began. They Graduated Into Gaza’s War. Photo by Ahmed al DanafThey were among Gaza’s most ambitious students. This is not the first time war has come to Gaza. Hours later, Salem said, Mouayad was killed by a rocket when he went to retrieve the bodies.

Persons: Ahmed al Danaf, ”, Israel, “, Loss, Madeha, Salem Shurrab, Mouayad Alrayyes, ” Salem, Salem, Mouayad, Aseel Taya, Sofyan, aya, asha Organizations: Al, Azhar University, Facebook, New York Times, Palestinian Ministry of Higher Education Locations: Gaza, Israel, Gaza City, Salem

☆ Here's how Caitlin Clark's $338,000 WNBA contract compares to No. 1 picks from the NFL, NBA and MLB
▼ + stars: | 2024-04-18 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

1 overall selection by the Indiana Fever in this week's WNBA draft, Clark's salary her first season will be just over $76,000. Clark's pay will escalate over the course of her four-year rookie contract, leaving her with total earnings of $338,056. The WNBA has grown in popularity in recent years, but it still trails behind the NBA, NFL, MLB and NHL. The highest paid WNBA player is Las Vegas Aces star Jackie Young, who will earn just over $250,000 this season. Here's how Clark's rookie deal stacks up against the most recent top picks from America's big four sports leagues.

Persons: Caitlin Clark, she'll, Jackie Young, Steph Curry, Cathy Engelbert, we're Organizations: WNBA, Indiana, Gatorade, Nike, NBA, NFL, MLB, NHL, Las Vegas Aces, Golden State Warriors, CNBC Locations: State

☆ Andy Sieg is quickly shaking up Citi's wealth business. At least 11 senior execs have left since his arrival.
▼ + stars: | 2024-04-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Citi's wealth unit has seen at least 11 senior execs exit since Merrill Lynch veteran Sieg joined in September. The latest departure is David Bailin, chief investment officer for the global wealth division, who announced his departure on Monday. Sieg's mandate is to turn around the wealth business, which was barely profitable this past quarter. Sieg also plans to expand Citi's already successful wealth business in Asia. At least two other senior Asia executives have left.

Persons: Andy Sieg, Merrill Lynch, Sieg, David Bailin, Bailin, Fraser, Andy, Mark Mason, Shyam Sambamurthy, Merril Lynch, Don Plaus, Hale Behzadi, Citi David, Eduardo Martinez Campos, Keith Lee Hong, Fernando Lopez Munoz, Luigi Pigorni, Jeff Sutton, Eduardo, Seamus Yin, Hayley Cuccinello Organizations: Citi, Business, Bankers, Citi Wealth, Citi Global Wealth, North America, Eduardo Martinez Campos Head, Mark, Mark Mills Regional, Fernando Lopez Munoz Head, Jeff Sutton Global, Eduardo Ventura, West Locations: Asia, Hong Kong, Singapore, Keith Lee Hong Kong, Mark Mills, Shyam Sambamurthy South Asia, America, West China, hcuccinello@businessinsider.com

☆ Airline worker among six arrested in $22M airport gold heist. Police say it was an inside job
▼ + stars: | 2024-04-17 | by ( Paula Newton | ) edition.cnn.com time to read: +3 min

The gold and currency had just arrived on an Air Canada flight from Zurich, Switzerland. At least two former Air Canada employees allegedly helped in the audacious theft, police say. “They needed people inside Air Canada to facilitate this theft,” Detective Sgt. “This was the largest gold heist in Canadian history, reportedly, it’s the sixth largest in world crime history,” said Deputy Police Chief Nick Milinovich. “I don’t think I ever imagined they’d have to deal with the largest gold heist in Canadian history, it’s almost out of an Ocean’s Eleven movie or a CSI.

Persons: Mike Mavity, ”, ” Peter Fitzpatrick, “, Eric, it’s, Nick Milinovich, Patrick Brown Organizations: Ottawa CNN —, Toronto’s Pearson International Airport, Police, Air Canada, Air, Peel Regional Police, US, of Alcohol, Tobacco, Firearms, Explosives, ATF, ” Police Locations: Canada, Zurich, Switzerland, Air Canada, Peel, Pennsylvania, Ontario, Brampton , Ontario

☆ Boeing's fleet of 8 corporate jets spent some 4,500 hours in the sky flying company executives last year, data shows
▼ + stars: | 2024-04-17 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

Boeing's corporate planes collectively flew about 4,500 hours across some 1,800 flights last year, according to data from the aviation-tracking website JetSpy. Jet Edge InternationalThe fleet's top airports include Chicago International Airport, Washington Dulles International Airport, and Boeing Field King County International Airport — all located near Boeing's corporate offices and factories. AdvertisementThe locations of Boeing's corporate fleet on April 12, according to JetSpy data. For instance, JetSpy data shows aerospace company Lockheed Martin collectively flew its five private jets for about 2,700 hours in 2023. AdvertisementBoeing wrote in the filing that its CEO "is required to use company aircraft for all business and personal travel for security reasons."

Persons: —, Dave Calhoun, Calhoun, Brian West, Lockheed Martin, Taylor Swift, Elon Musk, Max, messier Organizations: Service, Business, Boeing Business Jets, Canadian, Bombardier, Challenger, Jet Edge, Chicago International Airport, Washington, International Airport, Boeing Field King County International, Airport, Lebanon Municipal Airport, Wall Street Journal, Boeing, Lockheed, PepsiCo, Costco, Alaska Airlines, Calhoun . Locations: Westchester, New York, Lebanon, New Hampshire, South Carolina, New Canaan , Connecticut, American

☆ Russia is expected to grow faster than all advanced economies this year
▼ + stars: | 2024-04-17 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesRussia's economy is expected to grow faster than all advanced economies this year, according to the International Monetary Fund. The prediction will be galling for Western nations which have sought to economically isolate and punish Russia for its 2022 invasion of Ukraine. In short, Russia has adapted to a "new normal" as its economy has been put on a war footing. The Washington-based IMF includes the U.S., U.K., the euro area's largest economies, Canada and Japan as advanced economies. "If you look at Russia, today, production goes up, [for the] military, [and] consumption goes down.

Persons: Vladimir Putin, Uralvagonzavod, Ramil Sitdikov, Kristalina Georgieva, CNBC's Dan Murphy, Georgieva, Elvira Nabiullina, Andrey Rudakov Organizations: Evraz Consolidated, Siberian Metallurgical, Bloomberg, Getty, International Monetary Fund, U.S, Sputnik, Afp, IMF, TU, CNBC, World Governments, Bank of Russia, Duma Locations: Evraz Consolidated West, Novokuznetsk, Russia, Germany, France, Ukraine, India, China, Russian, Urals, Nizhny Tagil, Washington, Canada, Japan, Europe, Asia, Kazan, Dubai, Soviet Union, Russia's

☆ Caitlin Clark completed her expensive Prada outfit with more than $10,000 worth of sparkling diamonds
▼ + stars: | 2024-04-17 | by ( Amanda Krause | ) www.businessinsider.com time to read: +1 min

Caitlin Clark attended the 2024 WNBA Draft on Monday and was picked by the Indiana Fever. On the red carpet, she wore a $17,000 Prada outfit and more than $10,000 worth of John Hardy jewels. She wore diamond earrings and three bracelets made from silver and gold. AdvertisementThe 2024 WNBA Draft wasn't just about basketball for superstar Caitlin Clark. The event was also her first foray into the world of fashion, with the 22-year-old athlete sporting a $17,000 Prada outfit and an array of diamond jewelry worth $10,485 on the red carpet.

Persons: Caitlin Clark, John Hardy, — Organizations: Indiana, Service

☆ These are Morgan Stanley's top picks into quarterly earnings
▼ + stars: | 2024-04-17 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

As earnings season picks up steam, Morgan Stanley has named a group of stocks that could see a jump on quarterly results. Nvidia has climbed more than 70% in 2024, and the chipmaker is set to report quarterly results on May 22. Analysts polled by FactSet forecast earnings per share of $5.56 on revenue of $24.46 billion in the fiscal first quarter. Analysts have upwardly revised their earnings estimates on Nvidia by 17% over the past three months, according to FactSet data. Amazon has added 19% in 2024, and the company will report quarterly results on April 30.

Persons: Morgan Stanley, Michelle Weaver, Joseph Moore, Moore, Brian Nowak, Nowak Organizations: Amazon, Nvidia, Wall, Analysts, North Locations: North America

☆ Lawmakers vote against hearing Arizona bill repealing abortion ban on House floor
▼ + stars: | 2024-04-17 | by ( Arit John | Cheri Mossburg | ) edition.cnn.com time to read: +4 min

CNN —The Republican-controlled Arizona House of Representatives once again failed to advance a repeal of the state’s 160-year-old abortion ban Wednesday, days after the state Supreme Court roiled state politics by reviving the law. On Wednesday, following two attempts to discuss a bill that would repeal Arizona’s 1864 ban on abortions, lawmakers voted not to discuss the measure on the House floor. State lawmakers last week ended a House session early to block an effort to repeal the abortion ban. And on Monday, House Republicans’ general counsel laid out a strategy to defeat or dilute the impact of a potential abortion rights ballot initiative in a leaked memo. Abortion rights supporters and opponents gathered outside the statehouse Wednesday morning.

Persons: Donald Trump, Kari Lake, Katie Hobbs, “, Ben Toma, Doug Ducey, Republicans ’, Sen, Priya Sundareshan, ”, “ It’s, Jill Norgaard Organizations: CNN, Republican, Representatives, GOP, Democratic Gov, ”, Republicans, Arizona Democrats, Senate, Arizona Democratic Legislative, Committee, Abortion, statehouse, Wednesday Locations: Arizona,

☆ Elon Musk's wealth has crashed by $160 billion from its peak as Tesla's problems pile up
▼ + stars: | 2024-04-17 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The stock drop has fueled an estimated $160 billion decline in Elon Musk's net worth. AdvertisementTesla's mounting troubles have dealt a heavy blow to Elon Musk's net worth. However, Musk's net worth has plunged by about $160 billion since then to $178 billion at Tuesday's close. Musk's net worth has taken a big hit from the decline because his 13% stake in the automaker makes up a big chunk of his wealth. He topped the Bloomberg rich list with a $229 billion fortune in January, but his net worth has crashed by $51 billion, or 22%, since then.

Persons: —, Elon, Warren Buffett, LVMH's Bernard Arnault, Jeff Bezos, Meta's Mark Zuckerberg, Musk, He's, Zuckerberg, isn't Organizations: Service, Bloomberg, SpaceX, Buffett, Tesla, Twitter Locations: Elon Musk's

☆ Dollar steady, yen fragile after Fed comments dash rate cut bets
▼ + stars: | 2024-04-17 | by ( ) www.cnbc.com time to read: +4 min

The comments follow a slew of data in recent weeks that highlight the strength of U.S. economy along with persistent inflation. Against a basket of currencies, the dollar was last at 106.33, just below the five month peak of 106.51 touched on Tuesday. I'm watching dollar strength and U.S. real yields very closely." On Wednesday, the yen was last at 154.65 per dollar, having touched the 34-year low of 154.79 in the previous session. The Australian dollar rose 0.12% to $0.641, while the New Zealand dollar rose 0.22 to $0.589.

Persons: Jerome Powell, Powell, Powell's, " Powell, Ben Bennett, Kieran Williams, InTouch Capital's Williams Organizations: Federal Reserve, U.S, Traders, Investment Management, Asia FX, InTouch, CPI, New Zealand Locations: Washington, Asia, JPY, Japan

☆ Paris Olympics: Team USA expected to win bumper medal haul
▼ + stars: | 2024-04-17 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —With 100 days to go until the start of the Paris Olympics, Team USA is expected to top the medal table once again at this year’s Summer Games. According to a virtual Paris Olympics medal table released by Nielsen’s Gracenote, the US is forecast to win 123 medals in Paris – 39 gold, 37 silver and 47 bronze. “The United States team has medals projected in 27 different sports in the Virtual Medal Table, two sports fewer than the country’s own Olympic record of 29 which was set in Tokyo. Australia, Japan, Italy, Netherlands, Germany and South Korea make up the rest of the top 10 in the virtual medal table. The table is a statistical model based on individual and team results in past events, including Olympics, world championships and World Cups.

Persons: Nielsen’s Gracenote, ” Gracenote, Katie Ledecky, Alex Slitz, Gracenote, Christian Coleman, Noah Lyles, Simone Biles Organizations: CNN, Paris Olympics, USA, Angeles, United States, “, France Locations: Paris, Tokyo, China, Great Britain, Australia, Japan, Italy, Netherlands, Germany, South Korea

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