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☆ The manager behind a pair of top-3% growth funds shares a proven strategy for playing the AI boom — and 6 of her favorite stocks to buy now
▼ + stars: | 2024-07-21 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Ankur Crawford, who co-manages the top-1% Alger Capital Appreciation Fund (ACAAX) and top-3% Alger Spectra Fund (SPECX), has done just that. But many in markets believe that AI stocks' feverish rally is running out of steam as investors rotate away from technology companies. But both funds target two types of growth stocks, Crawford said: high-unit-volume powerhouses that control their industries, and established firms in the midst of a significant makeover. "They're usually market-dominant players; they're changing their markets," Crawford said of the former group. 6 top growth stocks to buy nowAfter outlining the strategy that her funds follow, Crawford named six stocks she's bullish on that are in both funds.

Persons: —, Ankur Crawford, Crawford Organizations: Service, Business

☆ I’m from Japan, home to some of the world’s longest living people: 8 foods I eat every day
▼ + stars: | 2024-07-21 | by ( Michiko Tomioka | ) www.cnbc.com time to read: +6 min

Here I am at an event about longevity at my local library, practicing Chado, the traditional Japanese tea ceremony for preparing matcha. Here are the eight foods I always keep in my kitchen and eat every day to live a longer and happier life. Since I was in high school, I have practiced Chado, the traditional Japanese tea ceremony for preparing green tea. For example, I'll throw kombu seaweed into miso soup with some dried mushrooms, or make a salad with seaweeds like wakame and hijiki. I use dried shiitake for overnight dashi (soup stock) with kombu seaweed, miso soup, dressings, vinegar, curry — basically everything.

Persons: Chado, Michiko, Michiko Tomioka, I'm, It's, Ginger Locations: Nara, Japan, New York, hummus

☆ 'Just buying, buying, buying’: What the recent small-cap boom suggests about the appetite for risk
▼ + stars: | 2024-07-20 | by ( Ellie Stevens | ) www.cnbc.com time to read: +1 min

The money flow into small caps may not be a rotation from winning growth trades. Dave Nadig, ETF journalist and financial futurist, sees investors "just buying, buying, buying." "[Investors] are now, for the first time in ages, buying value, buying some of these defensive sectors, buying small caps. When it comes to the small-cap trade, Nadig thinks it's too early to determine whether the upside is sustainable. The Russell 2000 , which tracks small caps, fell 0.6% on Friday.

Persons: Dave Nadig, CNBC's, Nadig, it's, Russell, Joe Biden Organizations: Dow Industrial, Nasdaq

☆ Don't bet on the stock-market rotation as small-caps historically suffer when rates come down, Barclays says
▼ + stars: | 2024-07-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Small-caps historically decline before and after the first interest rate cut, Barclays reported. This argues against the growing narrative that the easing cycle will boost small-caps, the bank said. AdvertisementBarclays ResearchTheir finding opposes many prevailing viewpoints on Wall Street, where rising bets of lower interest rates have sent investors piling into the small-cap trade. In part, falling interest rates might help ease debt burdens, but they can also signal a cooling economy — which favors large-cap exposure. Market veteran Ed Yardeni wrote this week that the small-caps trade has no legs, given the sector's lackluster forward earnings, revenue, and profit margins.

Persons: —, Venu Krishna, Russell, June's, Tom Lee, Ed Yardeni, Liz Young Thomas Organizations: Barclays, Service, NASDAQ, Federal

☆ Airlines are scrambling to fix the unsustainable crisis caused by too many cheap flights
▼ + stars: | 2024-07-18 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +5 min

Read previewIt may not feel like it, but there are a lot of cheap flights to be had this summer — and the influx of low-priced, often money-losing economy seats has airlines scrambling. "The unprofitable capacity is just not sustainable," United Airlines' chief commercial officer Andrew Nocella told investors Thursday. Low-cost airlines are bearing the brunt of the painDelta CEO Ed Bastian also questioned the long-term financial viability of the business strategy of low-cost carriers during the airline's earnings call last week. Delta CEO Ed Bastian, pictured onstage at CES in 2019, questioned the long-term viability of money-losing low-cost airlines. In addition, Alaska Airlines announced this week that it's retrofitting its Boeing 737 fleet to add 1.3 million first-class and premium economy seats annually.

Persons: —, Andrew Nocella, Scott Kirby, LOGAN CYRUS, Kirby, Nocella, CCO, Ed Bastian, Bastian, Steve Marcus Organizations: Service, United Airlines, Business, Bureau of Labor Statistics, Delta, CES, Reuters Southwest Airlines, Frontier, Polaris, Alaska Airlines, Boeing, Alaska Boeing, American Airlines Locations: Boeing's, Carolina, Alaska

Chinese President Xi Jinping and former U.S. President Donald Trump in Beijing, China, in 2017. "So this is not going to be a sustainable driver of growth for China." China's exports to the U.S. rose by a modest 1.5% in the first half of the year. Citi forecasts 5.0% growth in real GDP growth for China this year. UBS forecasts 4.9% growth for China's economy this year.

Persons: Xi Jinping, Donald Trump, Artyom Ivanov, Goldman Sachs, Trump, JD Vance, Hui Shan, CNBC's, Janet Yellen, Vance, Biden, Mike Pence wouldn't, MAGA, Lin Jian, Goldman's Shan, Shan, Tao Wang Organizations: TASS, Getty, BEIJING, U.S, European, Citi, Fox News, Trump, Capitol, China's Ministry of Foreign Affairs, CNBC, UBS Investment Bank, UBS Locations: Beijing, China, U.S, European Union, Asia, Ukraine

Analyst Didier Scemama reiterated his buy rating and kept his $1,406 12-month price target on the stock, which implies shares can jump 50.8%. She noted that Palo Alto, which is up 12.5% year to date, continued to soar even as growth in cybersecurity-tied AI winners slowed. "However, consensus expects a sharp reacceleration in dollar growth from FY26 onwards, which we view as unlikely," the analyst added. "We view Palo Alto more defensive as it is skewed to a stickier customer base and a wider moat." — Pia Singh 5:45 a.m.: Baird upgrades elf Beauty There's a big buying opportunity in elf shares, according to Baird.

Persons: Baird, Morgan Stanley, Didier Scemama, Scemama, — Pia Singh, Dan Dolev, Dolev, Nina Marques, Marques, Palo, Morgan, Alex Straton, Straton, Mark Altschwager, Altschwager, — Fred Imbert Organizations: CNBC, Bank of America, of America, CMD, Mizuho, Mizuho Securities, Walmart, Palo Alto Networks, Palo, Palo Alto, Trump Locations: U.S, Palo Alto, Wednesday's, cybersecurity, China

☆ I've raised my child between the US and New Zealand. I've learned important lessons about 'fearless parenting' from my Kiwi friends.
▼ + stars: | 2024-07-18 | by ( Barbara Dessart | ) www.businessinsider.com time to read: +5 min

However, Kiwis practiced "fearless parenting," reinforcing a sense of adventure, the need for sustainability, and problem-solving skills from birth through childhood. This is when I learned that most Kiwi parents tend to measure danger in two categories — possible or probable. New Zealand parents rely on imagination and ingenuity to make use of old things, so there is a tendency to conserve more and waste less. AdvertisementWhile US parents may be inclined to use devices or television to pass the time, in New Zealand, parents emphasize "messy play." We always wanted Faith to have the skills she needed to adapt anywhere — whether in Oakland, California, or Auckland, New Zealand.

Persons: —, Faith, Waiheke Organizations: Service, New, Business, Kiwi, Kiwis Locations: New Zealand, United States, Aotearoa, Zealand, Wharau, NZ, Oakland , California, Auckland , New Zealand, Oakland, Auckland

☆ Will the rally in small-cap stocks last? Investors share their take — and their picks
▼ + stars: | 2024-07-18 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Investors are flocking to small-cap stocks right now, driving this segment of the market to new highs this week. He also noted that the Russell 2000 is outperforming the S & P 500 by the widest margin since November 2021. But according to him, one group of small-cap stocks could do well if rates were to stay higher for longer: regional banks. However, Turnquist cautioned that small-cap growth stocks would find the outlook tougher than small-cap value stocks, as they are more sensitive to economic health. How to play small-caps Investors who have been making a play for small-caps include billionaire Stanley Druckenmiller , who revealed a big bullish position in small-cap stocks last quarter.

Persons: Russell, Adam Turnquist, Turnquist, we've, There's, Trump, Kelvin Wong, Donald Trump, Wong, Stanley Druckenmiller, FactSet, David Dietze, Dietze, Jay Hatfield, Kilroy, Jefferies, Hatfield, —, Yun Li Organizations: CNBC, LPL, U.S . Federal, Federal Reserve, Citi, Wealth Management, CNBC Pro, Corp, Jefferies Locations: U.S, America

☆ Netflix has a plan to keep you paying for your subscription
▼ + stars: | 2024-07-18 | by ( Samantha Delouya | ) edition.cnn.com time to read: +3 min

CNN —Football, wrestling and immersive experiences: This year, Netflix has expanded beyond its usual scripted and reality TV offerings. In May, Netflix disclosed that it has 40 million monthly active users on its new ad-supported subscription tier, a jump from 23 million in January. The deal kicks off this year with Netflix globally airing two NFL games on the holiday. But sports aren’t the only way Netflix is trying to expand its footprint. “It should help retain those customers and keep them in the Netflix ecosystem and paying for their subscriptions for longer,” he said.

Persons: Tim Nollen, ”, ” Nollen, Peacock, David Joyce Organizations: CNN — Football, Netflix, Disney, Warner Bros, Macquarie, NFL, WWE, Dallas Galleria, Seaport Locations: Philadelphia

☆ Futuristic designs unveiled for ‘world’s greenest highway’
▼ + stars: | 2024-07-17 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +10 min

Not content with Dubai having the tallest building, the deepest pool or the highest hotel, urban design firm URB hopes to add one more superlative feather to the city’s cap: the world’s “greenest” highway. The green highway, pictured in this render, would also include a network of footpaths and green community spaces. URB‘A unique set of challenges’Creating the world’s “greenest” highway in a desert city isn’t easy, though. Pictured in this rendering, designs for the Nexgen Sustainable City, which URB has designed for Cairo. URB A Dubai developer is creating green designs for the city Prev NextAn urban utopiaThis isn’t URB’s first foray into utopian future city design.

Persons: URB, Sheikh Mohammed Bin Zayed, Baharash, ” Bagherian, ”, Baharash Bagherian, ’, Bagherian, — Organizations: CNN, Dubai, United Arab Emirates, European Union, “, Hub, Agri Locations: Dubai, ”, “ Dubai, URB “ Dubai, UAE, Hong Kong, URB, Yiti, Oman, Yas, Abu Dhabi, Cairo, City

☆ YouTube just took a big victory lap
▼ + stars: | 2024-07-17 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +5 min

Their answers have rarely surprised me, and I've heard the phrase, "YouTube is king," too many times to count. YouTube didn't always exude confidenceMusical.ly's 2018 TikTok rebrand launched the platform into stardom, shifting creator and audience attention away from YouTube. AdvertisementThe rise of TikTok forced YouTube to fight for eyeballs by introducing its own short-video feature, YouTube Shorts, in 2021 and developing a new team of partner managers and programs to recruit and retain talent. YouTube Shorts hosted a parking-lot-sized drive-thru activation at VidCon 2022, when TikTok was the title sponsor. With all this, it's no surprise YouTube seems to be taking a victory lap around its competitors.

Persons: —, I've, influencers, TikTok, Addison Rae, YouTube isn't, TikTok —, VidCon's, JP Mangalindan, Morgan Stanley, Influencers, they'd, It's, Lucia Moses, it's Organizations: Service, YouTube, Business, Nielsen, Netflix, Spotify, Apple, Disney

☆ HSBC appoints Georges Elhedery as group CEO starting Sept. 2
▼ + stars: | 2024-07-17 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +1 min

HSBC announced on Wednesday that it has appointed Georges Elhedery as group CEO, starting Sept. 2. Elhedery, who is the current chief financial officer, will replace outgoing head Noel Quinn in September. In late April, HSBC unexpectedly announced that Quinn would depart after nearly five years at the helm. Elhedery's appointment as CEO comes less than two years after he was promoted to chief financial officer in January 2023. HSBC Group Chairman Mark Tucker called Elhedery "an exceptional leader and banker who cares passionately about the Bank, our customers, and our people."

Persons: Georges Elhedery, Elhedery, Noel Quinn, Quinn, Mark Tucker Organizations: HSBC, Bank Locations: United Kingdom

☆ Britain Approves Lab-Grown Meat for Pet Food
▼ + stars: | 2024-07-17 | by ( Amelia Nierenberg | ) www.nytimes.com time to read: +1 min

Britain has approved the sale of lab-grown meat for pet food, becoming the first European nation to give its blessing to a process that has prompted opposition in other countries. The landmark approval went to Meatly, a British company that grows meat from chicken cells for pet food. Its product, which will begin feeding trials in August, arrives at a time when the worldwide market for pet food is expected to grow 5 percent this year to $151 billion, according to the research firm Statista. And it is more sustainable and kinder to animals, said Owen Ensor, the chief executive of Meatly. “It allows you to still feed the meat that your pets crave and that you want to feed your pet — while providing all the nutrients that your pet needs,” said Mr. Ensor, who added that he had fed the product to his cats, Lamu and Zanzi.

Persons: Britain’s, Owen Ensor, ”, Ensor Locations: Britain, British

☆ US military ends troubled temporary pier mission off Gaza coast
▼ + stars: | 2024-07-17 | by ( Haley Britzky | Natasha Bertrand | ) edition.cnn.com time to read: +4 min

CNN —The US military is ending its temporary pier mission off the Gaza coast that has been plagued with challenges after roughly 20 days of operational use, as humanitarian aid begins being brought in through an Israeli port instead. Cooper said the pier was operational for “a little more than 20 days” and delivered 19.4 million pounds of aid. The US military will continue to help deliver the remaining aid from Cyprus to Ashdod, Cooper said. “A temporary pier would enable a massive increase in the amount of humanitarian assistance getting into Gaza every day,” Biden said. During the same storm, four US Army vessels supporting the pier were washed ashore on beaches in Gaza and Israel.

Persons: ”, Brad Cooper, redeploy, Cooper, Israel —, Joe Biden, “, ” Biden, Steve Taravella, Sonali Korde, Jennifer Hansler Organizations: CNN, US Central Command, US Army, Brooke Army Medical Center, Food, Food Programme, Bureau, Humanitarian Locations: Gaza, Cyprus, Ashdod, Israel, San Antonio , Texas

☆ On Cloudboom Strike: Marathon-winning spray-on running shoes could shake up Olympics
▼ + stars: | 2024-07-17 | by ( Leah Dolan | ) edition.cnn.com time to read: +4 min

CNN —We’ve seen spray-on hair, a spray-on dress and now — marathon-winning spray-on shoes. The Cloudboom Strike LS is lace-free and weighs less than the latest iPhone. (A men’s US size 8.5 weighs just 170g per shoe, over 100g lighter than several popular running shoes of the same size.) Courtesy OnWith no heel-cap, laces or tongue, the translucent, sock-like sneaker looks like a running shoe that has shed its skin. Having initially been made available to the public in April, the Cloudboom Strike LS will again go on sale to consumers later this year.

Persons: CNN —, Hellen Obiri, ”, Heitz, Johannes Voelchert, Voelchert, ” Voelchert, LightSpray, Marc Maurer, On’s, Olli Hoare, Luke McCann —, Coperni, Bella Hadid, Manel Torres Organizations: CNN, Boston, Fair, Games, ”, Paris Fashion Locations: Paris, Zurich, Milan, Swiss, Australian

☆ Work from home could lead to more homes in vacant offices
▼ + stars: | 2024-07-17 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

At first glance, The Crosby, an apartment building that opened in 2020 in Los Angeles’ Koreatown neighborhood, seems like a typical luxury high-rise. And most office buildings have central air conditioning, so the system needs to be replaced with individual cooling and heating systems for each unit. “Only about 15% of office buildings here in the markets that we’re based in are potentially good candidates for office-to-housing conversions,” Sherman said. While that may initially seem like a positive, apartment units need to have access to windows facing the exterior. Local governments aren’t only pushing for office building conversions, though.

Persons: CBRE, Crosby, West, ”, Jaime Lee, “, we’ve, ” Lee, Chris Sherman, ” Sherman, Sherman, you’re, Jason Ward, Ward, Eric Adams, John Watson, ” Watson, Watson, Kelly Wilkinson Organizations: CNN, Moody’s, Texaco, Jamison Group, ”, Jamison, Sherman Associates, “, Local, RAND, Housing, Homelessness, New York City, Pfizer, Indianapolis Star Locations: United States, Los Angeles, Koreatown, West Coast, Minneapolis, New York, New, Indianapolis, “, Indiana University's

Protests in Spain will spread if European officials fail to address mass tourism's negative effect on the lives of residents, UNESCO's Peter Debrine told "Squawk Box Asia" on Monday. He cited the banning of large cruise ships in Venice, Italy, in 2021 as an example. "Cruise ships are no longer going through the Grand Canal." Cruise ships now dock farther from Venice, which helps the structural and environmental integrity of the city. But travelers also play a role in curbing mass tourism, said Debrine.

Persons: UNESCO's Peter Debrine, Debrine, it's Organizations: Adriatic, Port Authority, Council, CNBC, Barcelona Locations: Spain, Venice, Italy, Barcelona, Debrine, Amsterdam

☆ Oil prices tick down on worries about Chinese demand
▼ + stars: | 2024-07-16 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged lower on Tuesday on worries about a slowing Chinese economy crimping demand, though a growing consensus that the U.S. Federal Reserve will begin cutting its key interest rate as soon as September limited declines. Brent futures fell 9 cents, or 0.1%, to $84.76 a barrel by 12:21 GMT, while U.S. West Texas Intermediate crude dropped 13 cents, or 0.2%, to $81.78. China's economy grew much slower than expected in the second quarter, hamstrung by a protracted property downturn and job insecurity. Lower interest rates decrease the cost of borrowing, which can boost economic activity and oil demand. While crisis in the Middle East has not impacted supply, attacks on ships in the Red Sea has forced vessels to take longer routes, meaning oil remains on the water for longer.

Persons: Brent, Jerome Powell, Alexander Novak Organizations: U.S . Federal Reserve, U.S, West Texas, Organization of, Petroleum Locations: Yemen, Gaza, Russian, OPEC

☆ Dollar drifts as Powell comments bring September rate cut in focus
▼ + stars: | 2024-07-16 | by ( ) www.cnbc.com time to read: +3 min

The dollar fell slightly on Monday after comments from Federal Reserve Chair Jerome Powell, while cryptocurrencies rose on bets that an assassination attempt on former President Donald Trump lifted his reelection chances. The dollar hung around five-week lows on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a rate cut in September, while cryptocurrencies gained on rising odds of former President Donald Trump getting reelected. The comments, likely Powell's last until his press conference following the Fed's July 30-31 meeting, shifted rate cut expectations. Markets are now anticipating 68 basis points of easing this year, with a rate cut in September fully priced in, CME FedWatch tool showed. "Markets may need to wait longer for the confirmation of their September rate cut hopes, and growth and labor data will be on the radar such as retail sales today."

Persons: Jerome Powell, Donald Trump, cryptocurrencies, Powell, We've, Charu Chanana, Trump, Gary Gensler, Chris Weston Organizations: Federal, Economic, of Washington, Saxo, Traders, Bank of Japan, Republican, cryptocurrency, San, SEC, New Zealand Locations: Tokyo, San Francisco

☆ Gold drifts higher as U.S. rate cut optimism boosts appeal
▼ + stars: | 2024-07-16 | by ( ) www.cnbc.com time to read: +2 min

A five hundred gram gold bar, left, and a a one kilogram gold bar, produced by Swiss manufacturer Argor Hebaeus SA, in Budapest, Hungary. Gold prices nudged higher on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited more U.S. economic data for further monetary policy cues. Spot gold rose 0.1% to $2,423.89 per ounce by 0140 GMT. A rate cut in September is now fully priced in by markets, which may keep sentiments in gold prices well-supported in the lead-up," said IG market strategist Yeap Jun Rong. Investors were awaiting U.S. retail sales data due at 1230 GMT on Tuesday and comments from Fed governors Christopher Waller and Adriana Kugler later this week for further direction.

Persons: Jerome Powell, Powell, Yeap Jun Rong, Christopher Waller, Adriana Kugler, Yeap Organizations: Argor Hebaeus SA, Federal, Investors, Reuters Locations: Swiss, Budapest, Hungary

☆ Asia’s 50 best bars for 2024 revealed
▼ + stars: | 2024-07-16 | by ( Lilit Marcus | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Bar Leone – an Italian cocktail spot in central Hong Kong – has been crowned the best bar in Asia. Bar LeoneBefore Bar Leone’s triumph, the top spot was held by another Hong Kong bar, mezcal-forward Coa, which spent a record three years atop the list. The list, which was first put together in 2017, added a new category this year recognizing best bar design. “Sustainability is also how we promote and preserve Korean bar culture.”Emma Sleight, head of content for 50 Best Bars and 50 Best Hotels, told CNN that Asia’s bar scene “is one of the best in the world, it’s incredibly young and dynamic and ever-changing. “Free drinks at Bar Leone for everyone tonight!” he shouted triumphantly, before leaning over to his colleagues and whispering, “The bar is closed tonight, right?”Asia’s 50 Best Bars for 20241.

Persons: Hong Kong CNN — Bar Leone –, Hong Kong –, “, ”, Lorenzo Antinori, Antinori, ” Lorenzo Antinori, Bar, Jay Khan, Hong Kong’s, –, Khan, ” Khan, Craftroom, Changsha’s, Demie Kim, Kim, Emma, Aubrey, Regis Organizations: Hong Kong CNN — Bar, CNN, Rosewood, Bar, Bar Leone, “, BKK Social, Hope, Sesame, Sago, Regis Bar, SG, Analogue Initiative, Employees, House, Chamber, Co Locations: Hong Kong, Hong Kong CNN — Bar Leone, Italian, Asia, Rome, Hong, Kowloon, Bar Leone, Singapore, Busan, Seoul, Tokyo, Bangkok, Penrose, Kuala Lumpur, Jakarta, Vesper, Guangzhou, Bar Cham, St, Macao, Offtrack, Pantja, Osaka, Sri Lanka, Vender, Taichung, Taiwan, Manila, Taipei, Barc, Kathmandu, ZLB23, Bengaluru, India, Fura, CMYK, Changsha, China, Hanoi

☆ Top tech analyst Mark Mahaney gives his new picks and names a surprising potential underperformer
▼ + stars: | 2024-07-16 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

With the second-quarter earnings season beginning to gain steam, Evercore ISI's Mark Mahaney has updated his list of tactical calls. He has a $225 price target on shares, indicating upside potential of about 20%. "We continue to believe that recent concerns about UBER being negatively impacted by an AV rollout are mis-placed," said Mahaney. Mahaney added that Uber shares are currently trading at a "very attractive" valuation of around 20 times enterprise value to free cash flow. With shares trading approximately 30% below their 52-week high, Mahaney thinks now is an attractive time to enter what he calls "a best-in-class ecommerce platform business."

Persons: Mark Mahaney, Mahaney, Uber, Evercore Organizations: Technologies, Expedia, Google, Mobility, TAM, Amazon Locations: Monday's

☆ Wall Street 'bake offs' are back. Here's what it means for dealmaking, according to Morgan Stanley CEO Ted Pick.
▼ + stars: | 2024-07-16 | by ( Reed Alexander | ) www.businessinsider.com time to read: +5 min

Read previewWhen Morgan Stanley reported earnings on Tuesday, it wasn't the first bank to make hay over the coming "investment-banking rebound." Top executives up and down across Wall Street have been talking for days about their predictions that Wall Street's bread-and-butter business of advising and financing deals could soon come roaring back. And the parade of optimism has only heated up this year as investment-banking revenues have started the slow climb from historical lows. AdvertisementIB revenues surgingLike many of the other Wall Street banks that reported earnings in recent days, Morgan Stanley saw investment-banking revenues soar in the second quarter. And as Pick said on Tuesday, Wall Street is getting excited about more than just traditional dealmaking, but also the financing and other hedging strategies that come with companies getting off the sidelines.

Persons: —, Morgan Stanley, Mike Mayo, Mayo, Morgan, Ted Pick, Pick, Goldman Sachs, Goldman, Solomon, Chase, It's, It'd Organizations: Service, Wells, Wells Fargo Securities, Business, Wall, Reserve, quicken, Goldman, Bank of America Locations: Wells Fargo, issuances, Mayo

☆ Elysian unveils fully electric 90-passenger plane
▼ + stars: | 2024-07-15 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +9 min

“You shouldn’t assume that an electric plane is going to look like the (most successful) planes of today,” de Vries says, adding that a common misconception is that electric planes should essentially be electrified versions of the lightest regional turboprops. What you end up with is a plane that in weight proportions, for example, looks much more like old 1960s jets. Israeli-founded Eviation has flight-tested its plane, called Alice – a fully electric nine-passenger commuter plane with a range of 250 nautical miles that the company aims to put into service in 2027. “There are over 5,000 aircraft in service today in the E9X’s size category of 70 to 100 seats,” he says. If Elysian can surmount the technology and infrastructure challenges, he adds, it will then face the commercial challenge of entering a fiercely competitive market.

Persons: it’s, Reynard de Vries, ” de Vries, de Vries, Vries, Rob Wolleswinkel, Elysian’s, ”, de, Daniel Rosen Jacobson, Jordi Huisman, Çınar, Eviation, Alice –, Gary Crichlow, Crichlow, ” Crichlow Organizations: CNN — Commercial, Elysian, Boeing, Airbus, Delft University of Technology, “, University of Michigan, Heart Aerospace Locations: Netherlands, de Vries, British, American

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