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☆ This wind stock tanked after Trump's win. Analysts now say buy the dip, giving it major upside
▼ + stars: | 2024-11-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Shares of Vestas Wind Systems tanked on the news that Donald Trump had won the 2024 presidential election. However, analysts at a number of investment banks have suggested that investors overreacted to fears of a downturn for the sector. And he's not alone — the consensus price target of all analysts covering the stock points to an upside of more than 50%. Vestas shares are also traded in the U.S. with the ticker VWDRY . In addition to the political headwinds, Vestas Wind Systems has also had to contend with the rising cost of materials and labor over the past few quarters.

Persons: Donald Trump, Trump, Donald Trump's, Jacob Pedersen, Pedersen, Joe Biden's, Vestas, Henrik Andersen, John Kim, Gael, Bray, That's Organizations: Vestas, Nasdaq, Deutsche, Gael de, Systems, Deutsche Bank Locations: USA, Danish, U.S, Nasdaq Copenhagen, United States

☆ Expect new stablecoins based on other fiat currencies and for the market to expand: Ripple
▼ + stars: | 2024-11-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect new stablecoins based on other fiat currencies and for the market to expand: RippleMonica Long of Ripple says the payments use-case for stablecoins is going to be a "massive trend" and discusses the company's upcoming U.S. dollar stablecoin.

Persons: Monica, Ripple

☆ Bitcoin tops $82,000 as crypto euphoria over Trump win shows no sign of waning
▼ + stars: | 2024-11-11 | by ( Katrina Bishop | ) www.cnbc.com time to read: +2 min

ET, bitcoin was trading 3.6% higher at $82,216, according to Coin Metrics. Stock Chart Icon Stock chart icon Bitcoin touches $80,000 on Sunday for the first time ever. "His pledge to go all in on crypto has sent Bitcoin to fresh heady heights," she said in a research note Monday. "He's made an about turn on supporting the industry and is now vowing to turn the U.S. into the crypto capital of the world. On the campaign trail, Trump made a slew of promises to the crypto industry, including making the U.S. the "crypto capital of the planet" and insisting that all bitcoin should be mined in the country.

Persons: Chukrut, cryptocurrencies, Donald Trump's, XRP, Memecoins, Shiba, Susannah Streeter, Hargreaves Lansdown, He's, clement, Trump, Gary Gensler — Organizations: Getty, Metrics, U.S, U.S . Securities, Exchange Locations: U.S

☆ COP29: As Trump’s win tests the world order, diplomats are fretting over what it means for the planet
▼ + stars: | 2024-11-11 | by ( Angela Dewan | Ella Nilsen | ) edition.cnn.com time to read: +8 min

A U-turn on US climate policy could be disastrous for the planet, as it raises the risk of emulation. When America does something on the world stage, at least some countries tend to follow. Ahead of Trump’s inauguration, negotiators will ramp down their expectations in terms of what’s possible at the talks, he said. President Luiz Inácio Lula da Silva, who will host the climate talks next year in Brazil, bowed out after a head injury. The world is already 1.3 degrees warmer than it was before humans started burning fossil fuels at an industrial scale.

Persons: CNN —, Donald Trump’s, Trump, ”, Oli Brown, ” Trump, they’ve, Mukhtar Babayev, Joe Biden, France’s Emmanuel Macron, Ursula Von Der Leyen, Claudia Sheinbaum, Olaf Scholz, Dick Schoof, Luiz Inácio Lula da Silva, Frederic J . Brown, Jonathan Pershing, Biden, “, Li Shuo, Trump’s, Joeri Rogelj, ” Rogelj Organizations: CNN, Union, Israeli, Maccabi Tel, Trump, Wilmington Oil, Getty, European Union, Asia Society Policy Institute, UN, Imperial College London Locations: Baku, United States, Paris, America, London, Mexico, Amsterdam, Maccabi Tel Aviv, Brazil, Wilmington, Los Angeles , California, AFP, China, EU, there’s

☆ Tens of thousands of Chinese college students went cycling at night. That put the government on edge
▼ + stars: | 2024-11-11 | by ( Nectar Gan | ) edition.cnn.com time to read: +6 min

Over the weekend, authorities in Kaifeng and Zhengzhou closed off bike lanes on Zhengkai Avenue, to try to stop cyclists from entering. To prevent students from joining the cycling crowd, some colleges and universities in Zhengzhou even imposed restrictions on leaving campus, according to accounts shared by students on social media. In the spring of 1989, university students in Beijing rode their bikes to Tiananmen Square to join pro-democracy protests that ended in a bloody crackdown by the Chinese military. Their journey quickly went viral, inspiring more Zhengzhou students to follow suit as the hashtag “youth is priceless” trended on social media. Others said local authorities should have been better prepared for the influx of students before they jumped in to promote the trend.

Persons: Hong Kong CNN —, Xi, Douyin, Kaifeng, ”, “ Organizations: Hong Kong CNN, Communist, Communist Party, Henan University, China City Daily Locations: Hong Kong, Kaifeng, China’s Henan, Zhengzhou –, Zhengzhou, China, Beijing, Taiwan, Henan, Weibo

☆ Mattel apologizes for accidentally printing X-rated link on boxes for 'Wicked' dolls
▼ + stars: | 2024-11-11 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

Mattel apologized for including an X-rated site link on "Wicked" doll packaging. AdvertisementToy maker Mattel has apologized for a printing error on the packaging of a line of "Wicked" dolls that listed an X-rated adult site. Related storiesWalmart confirmed it had paused the sale of the dolls as Mattel works to correct the misprint. A completed eBay listing for a Mattel "Wicked" doll with a URL misprint on the packaging. EbayAlthough the "Wicked" dolls are still visible on the Mattel website, the purchase links didn't yield available results on Monday morning.

Persons: Mattel, —, Stanley, Mattel's Organizations: Service, Mattel Locations: Target, U.S

☆ Netflix, Hulu, and Amazon Prime Video subscribers are hitting 'pause' instead of canceling altogether
▼ + stars: | 2024-11-11 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +3 min

Streaming video services are seeing more customers hitting "pause," The Wall Street Journal reports. The Journal examined subscription data from analytics firm Antenna to see the pattern of people quitting Netflix, Apple TV+, Disney+, Hulu, Max, Amazon Prime Video, and others. The average rate of U.S. customer cancellations among premium streaming video services reached 5.2% in August, but after factoring in re-subscribers, the rate of defections was lower at 3.5%. Meanwhile, last month, the Federal Trade Commission finalized a "click to cancel" rule that is supposed to make it easier for customers to cancel online subscriptions. In them, he's dancing shirtless to an audio meme to promote his FX show, "English Teacher," which streams on Hulu.

Persons: I'm, —, Brian Jordan Organizations: Street, Hulu —, Service, Netflix, Apple, Max, Amazon Prime, Federal Trade Commission Locations: Hulu

☆ Mattel pulls thousands of 'Wicked' dolls off shelves after printing adult website on packaging
▼ + stars: | 2024-11-11 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

Instead of listing the website for Universal's "Wicked" movie, boxes featured a link to a pornographic website for a group called Wicked Pictures. "Mattel was made aware of a misprint on the packaging of the Mattel Wicked collection dolls, primarily sold in the U.S., which intended to direct consumers to the official WickedMovie.com landing page," Mattel said in a statement. Consumers who already have the product are advised to discard the product packaging or obscure the link and may contact Mattel Customer Service for further information." Target , Walmart and Amazon had removed the line of "Wicked" dolls from their online storefronts as of midday Monday, as had Best Buy , Barnes & Noble and Macy's . The mishap comes as Universal floods retail shelves with "Wicked"-related product ahead of the film's Nov. 22 release.

Persons: Mattel, Noble, James Zahn, —, Jaime Katz, Zahn, NBCUniversal Organizations: Wicked Pictures, Mattel, Consumers, Service, Walmart, Amazon, Barnes, Universal, Morningstar, eBay, Facebook, Comcast, CNBC Locations: U.S, Target, NBCUniversal

☆ Gold extends decline; investors await U.S. data, Fed comments
▼ + stars: | 2024-11-11 | by ( ) www.cnbc.com time to read: +2 min

Gold prices fell for a second straight session on Monday, while investors prepared for U.S. economic data and comments from Federal Reserve officials this week for more clarity on the future direction of U.S. interest rates. Gold prices fell for a second straight session on Monday, while investors prepared for U.S. economic data and comments from Federal Reserve officials this week for more clarity on the future direction of U.S. interest rates. "We may expect the Fed to be more cautious in its easing process ahead, which could cap gold prices," Yeap said. Several Federal Reserve officials, including Chair Jerome Powell, are scheduled to speak this week. Additionally, U.S. consumer and producer price index data, weekly jobless claims and retail sales figures are due this week.

Persons: Yeap Jun Rong, Donald Trump's, Yeap, Bullion, Jerome Powell Organizations: Federal Reserve, Traders Locations: Beijing

☆ 4 red flags to look out for when choosing a financial advisor—and one green flag
▼ + stars: | 2024-11-11 | by ( Judy Lagrou | In Judylagrou | ) www.cnbc.com time to read: +5 min

Here are four red flags to look for when choosing a financial professional, plus one green flag that an advisor could be a good fit, according to certified financial planners and advisors from across the U.S.Red flag No. 1: The financial advisor does most of the talkingIf a potential financial planner is doing most of the talking without letting you get a word in edgewise, it's a bad sign. Financial advisors who are also registered as investment advisors will have a public disclosure record with the SEC as well. In addition, you will also want to make sure that your financial advisor is certified in the way they claim. 4: You don't trust themOne red flag can't be found on a list or spreadsheet: lack of trust.

Persons: Carla Adams, Adams, Sean Williams, they've, Marisa Rothstein, Rothstein, Ashton Lawrence Organizations: U.S ., Ametrine, Cadence Wealth Partners, Industry, Authority, SEC, Siena Private, Mariner Wealth Advisors Locations: U.S, Michigan, North Carolina, Avon , Connecticut, South Carolina

☆ Buy this exchange stock as postelection volatility boosts trading revenue, Deutsche Bank says
▼ + stars: | 2024-11-11 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Cboe Global Markets could benefit from the postelection volatility spike, according to Deutsche Bank. Analyst Brian Bedell upgraded the exchange stock to buy from hold and raised his price target to $222 from $211. Bedell said Cboe should maintain healthy revenue growth into at least 2025. Further product innovation and greater adoption of options usage, such as at Robinhood, should also contribute to greater organic revenue growth, Bedell added. Stronger revenue growth should eventually enable positive operating leverage, allowing the company to outperform existing expectations of operating margin stability.

Persons: Brian Bedell, Bedell, Cboe Organizations: Cboe, Deutsche Bank Locations: Robinhood

☆ GM's Wall Street vindication is happening as it outperforms its peers in 2024
▼ + stars: | 2024-11-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Jeff Kowalsky | Bloomberg | Getty ImagesDETROIT — General Motors is proving it's a standout among automakers this year as it continues to consistently outperform Wall Street's earnings expectations and its competitors. For the most part, GM stock has traded in lockstep with Ford due to their histories and the cyclical nature of the automotive industry. Ford stock is off 10% as of Friday's close. Others, including Ferrari , which has been among Wall Street's top auto performers, are also trailing GM. Shares of GM under Barra, who started leading the automaker in January 2014, have been lackluster for investors for most of her tenure.

Persons: Mary Barra, Jeff Kowalsky, John Murphy, Wall, it's, Donald Trump, Elon Musk Organizations: General Motors Co, Bloomberg, Getty, DETROIT —, Detroit, Rivian, BofA Securities, GM, Ford Motor, Chrysler, General, Ford, Ferrari, Tesla, U.S, Trump . General Motors, Hyundai, Toyota, Honda, Volkswagen, Nissan, Barra Locations: Detroit , Michigan, U.S, lockstep

☆ European markets set to start the week on a positive note
▼ + stars: | 2024-11-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European stocks are expected to open in positive territory Monday as global markets take a breath following last week's U.S. election. Earnings are set to come from Continental, Hannover Re and Mediobanca. Stocks also got a boost from the Federal Reserve after it lowered interest rates by a quarter percentage point last Thursday. Global investors will be awaiting the latest U.S. inflation readings due later in the week. Overnight, Asia-Pacific markets fell after China's latest stimulus measures underwhelmed and its October inflation numbers came in lower than expected.

Persons: Germany's DAX, Dow, Donald Trump's, Stocks Organizations: U.S, France's CAC, IG, Hannover Re, Federal Reserve, Global Locations: Continental, Europe, U.S, Asia, Pacific

☆ Trump taps Lee Zeldin as EPA chief, Rep. Elise Stefanik for UN ambassador
▼ + stars: | 2024-11-11 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Former U.S. President and Republican presidential candidate Donald Trump reacts as former U.S. Representative Lee Zeldin speaks at a rally ahead of the New Hampshire primary election in Concord, New Hampshire, U.S. January 19, 2024. Elizabeth Frantz | ReutersPresident-elect Donald Trump said Monday that he would appoint former Rep. Lee Zeldin as administrator of the Environmental Protection Agency, and current Rep. Elise Stefanik as the U.S. ambassador to the United Nations. The executive director of the Sierra Club, a leading environmental group, blasted Trump's selection of Zeldin for the EPA post. "Our lives, our livelihoods, and our collective future cannot afford Lee Zeldin – or anyone who seeks to carry out a mission antithetical to the EPA's mission." Republican Conference Chair Elise Stefanik, R-N.Y., speaks at the Republican National Convention in Milwaukee on Tuesday, July 16, 2024.

Persons: Donald Trump, Lee Zeldin, Elizabeth Frantz, Elise Stefanik, Trump, Trump's, Zeldin, Kathy Hochul, Donald, Ben Jealous, Lee Zeldin –, Bill Clark Organizations: U.S, Republican, New, Reuters, Environmental Protection Agency, United Nations, America, Trump's Cabinet, Gov, League of Conservation Voters, Sierra Club, Republican National Convention, CQ, Inc, Getty Locations: New Hampshire, Concord , New Hampshire, U.S, New York, Milwaukee

☆ The U.S. economic tailwinds look to be very strong, says Apollo's Torsten Slok
▼ + stars: | 2024-11-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe U.S. economic tailwinds look to be very strong, says Apollo's Torsten SlokTorsten Slok, Apollo Global Management Chief Economist, joins 'Closing Bell: Overtime' to discuss the Fed, economy and his market outlook.

Persons: Apollo's Torsten Slok Torsten Slok Organizations: Apollo Global Management

☆ Vuori is on a global growth journey & have 'a lot of room left' in the U.S., says CEO Joe Kudla
▼ + stars: | 2024-11-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVuori is on a global growth journey & have 'a lot of room left' in the U.S., says CEO Joe KudlaJoe Kudla, Vuori CEO, joins CNBC's Courtney Reagan on 'Power Lunch' to discuss whether the brand is considering an IPO, expansion plans, and more.

Persons: Joe Kudla Joe Kudla, CNBC's Courtney Reagan Locations: U.S

☆ Silicon Valley's General Catalyst makes first investment into Saudi Arabia through fintech Lean Technologies
▼ + stars: | 2024-11-11 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Silicon Valley venture capital firm General Catalyst has made its first investment in Saudi Arabia through fintech startup Lean Technologies, which just closed a Series B round worth $67.5 million. General Catalyst has $30 billion in assets under management and has backed major U.S. tech companies like Snap , Stripe and AirBnb . Lean Technologies' fundraising round also saw participation from Bain Capital Ventures, Stanley Druckenmiller's Duquesne Family Office, and Arbor Ventures, among others, bringing the Riyadh-based firm's total funding to over $100 million to date, according to a Sunday statement from the company. For three of those investors — General Catalyst, Stanley Druckenmiller and Bain Capital — this investment is their first in the kingdom. "If you look at the region's growth over the last three to five years, it's been phenomenal, but there is still so much more room for growth."

Persons: Catalyst, Stanley Druckenmiller's, Stanley Druckenmiller, Hisham Al, Falih, it's Organizations: Lean Technologies, Bain Capital Ventures, Stanley, Stanley Druckenmiller's Duquesne Family Office, Arbor Ventures, Bain Capital, CNBC Locations: Silicon, Saudi Arabia, U.S, Riyadh, Saudi

Trump allies are discussing deportation and detention options, with tackling the US-Mexico border seen as a priority from Day 1. But advocates fear deportation plans will soon reach deeper into American communities, targeting people who they say have a right to live here. Supporters of then-Republican presidential candidate Donald Trump gather outside Shelby Park in Eagle Pass, Texas, on February 29, 2024, the day Trump visits the U.S.-Mexico border at Eagle Pass. Kena Betancur/AFP/Getty ImagesIn the urban heart of New York City, where thousands of migrants and asylum seekers have stretched local resources, some houses of worship are preparing to shift their missions. But Murad Awawdeh, president of the New York Immigration Coalition, warned that sanctuary laws won’t stop federal immigration agencies from doing what they want.

Persons: Donald Trump’s, Donald Trump, ”, Juan Proaño, Lee Gelernt, ” Mary Meg McCarthy, ’ Cesar Espinosa, he’s, “, Espinosa, Go Nakamura, Jorge Rivas ’, MAGA, Betty . Rivas, Shannon Douglass, Mario Tama, Betancur, Chloe Breyer, Trump, Eric Adams ’, Manuel Castro, Murad Awawdeh, ” Awawdeh, “ They’ve, Adrees Latif, Jose Luis Gonzalez, Jim Desmond, JD Vance, Desmond, ” Kenia, “ It’s, it’s, Los Angeles Mayor Karen Bass, —, Guillermo Arias, Jose Luis Perez Canchola, ” Perez Canchola, Isabel Turcios, CNN’s Priscilla Alvarez Organizations: CNN — Immigrants, Trump, CNN, League, United Latin American Citizens, American Civil Liberties Union, Immigrant Justice Center, Republican, U.S, Reuters, Getty, Interfaith, of New, New York Immigration Coalition, Federal, Customs, Border Protection, Immigration, Department of Homeland Security, Reuters U.S . Border Patrol, San Diego, of Supervisors, Patrol, San Diego Regional Chamber of Commerce, University of Southern, Los Angeles Mayor, Los Angeles Unified School District, DHS, ONE Locations: Mexico, United States, —, Shelby, Eagle Pass , Texas, Eagle, Catalina , Arizona, Tucson, El Salvador, California, Coachella , California, New York, Queens, AFP, New York City, of New York, ”, China, Turkey, Jacumba, Springs , California, Reuters U.S, Sunland Park , New Mexico, San Diego, San, San Diego County, Los Angeles, University of Southern California, LA county, Juventud, Tijuana, Baja California, Tijuana , Mexico, Piedras Negras, Mexican, Rio, Frontera

☆ Former DOJ antitrust chief: Expect more predictability in regulatory reviews under second Trump term
▼ + stars: | 2024-11-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer DOJ antitrust chief: Expect more predictability in regulatory reviews under second Trump termMakan Delrahim, Latham & Watkins partner and former U.S. Assistant Attorney General at the DOJ’s antitrust division under President Trump, joins 'Squawk Box' to discuss antitrust and regulatory outlook under a second Trump administration, impact on current antitrust cases, future of FTC Chair Lina Khan, and more.

Persons: Delrahim, Watkins, President Trump, Trump, Lina Khan Organizations: Trump, Latham, U.S

☆ Trump admin will lead to more stabilized relationship with China, says MSA Capital's Ben Harburg
▼ + stars: | 2024-11-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump admin will lead to more stabilized relationship with China, says MSA Capital's Ben HarburgBen Harburg, MSA Capital managing partner, joins 'Squawk on the Street' to discuss what'll ultimately happen between the U.S. and China under Trump's administration, how monetary policy will play out in China, and much more.

Persons: Ben Harburg Ben Organizations: Capital, U.S Locations: China, Ben Harburg Ben Harburg

☆ CNBC Daily Open: Trump kicked off the market rally, but he could also halt it
▼ + stars: | 2024-11-11 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Andrew Kelly | ReutersThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineWhen the numbers are this good, you've got to start with them. "Equities are eager to price in Trump's domestic growth policies," Barclays strategist Venu Krishna said in a note to clients. While the Trump rally has gotten off to a roaring good start, it remains to be seen when — and more importantly, how — it'll end.

Persons: Republican Donald Trump, Andrew Kelly, you've, Russell, Venu Krishna, Mislav Matejka, Neel Kashkari, Kashkari, — CNBC's Sean Conlon, Yun Li, Jesse Pound, Hakyung Kim Organizations: Republican, U.S, New York Stock Exchange, Reuters, CNBC, Dow Jones, Nasdaq, Trump, Barclays, JPMorgan, Minneapolis Locations: New York City, U.S

☆ Investors should stay with their long-term financial plans no matter who is in the White House, advisors say
▼ + stars: | 2024-11-11 | by ( Sharon Epperson | In Sharoneppersoncnbc | ) www.cnbc.com time to read: +2 min

Yet, Wall Street's reaction to the election outcome does not reflect how many Americans feel about the state of their personal finances, some financial experts say. Feelings, however, should not overshadow anyone's focus when assessing the potential impact of a second Trump presidency when it comes to finances, advisors say. "Stick to your long-term financial plan, adjusting only when your personal circumstances or goals change." However, improving your personal economy is possible by taking better control of your money, experts say. Increase savings goals Boost savings goals in accounts that also offer tax breaks.

Persons: Sharon Epperson, Stocks, Donald Trump, Rianka Dorsainvil, Dorsainvil, Roth, Roth IRAs, you've, Lee Baker, Joe Biden Organizations: Federal Reserve, Dow Jones, Nasdaq, Trump, YGC, CNBC, Financial, U.S, Reuters Locations: Atlanta

☆ Trump tariff threat looms large on several Asian countries — not just China — says Goldman Sachs
▼ + stars: | 2024-11-11 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +4 min

President Donald Trump meets business leaders at the Great Hall of the People in Beijing, China, in November, 2017. Donald Trump's victory in U.S. elections has raised the specter of higher tariffs on China — but it may not be the only Asian country that faces this predicament, according to Goldman Sachs. Meanwhile, Vietnam's trade surplus with the U.S between January and September stands at $90 billion. U.S. data shows that the U.S. trade deficit with China narrowed to $279.11 billion in 2023, from $346.83 billion in 2016. Regardless of tariffs, Goldman still expects continued pressure for the relocation of certain supply chains from China to Southeast Asia, India or Mexico in particular.

Persons: Donald Trump, Donald Trump's, Goldman Sachs, Trump, Andrew Tilton, Tilton, Mr Trump, Trump's, Brian Tan, Mari Pangestu, Pangestu, Goldman Organizations: of, People, Pacific, Trump, U.S, United, Emerging Asia, Barclays Bank, FT Commodities Locations: Beijing, China, U.S, Asia, Korea, Taiwan, Vietnam, South, United States, India, Japan, Singapore, Thailand, Malaysia, Mexico, Indonesia, Trump, Southeast Asia

☆ The multi-billion dollar battle to host an F1 race is heating up
▼ + stars: | 2024-11-11 | by ( Chris Hawes | ) www.cnbc.com time to read: +3 min

Who will win a 2026 Grand Prix? "We are receiving calls from prime ministers, from governments that really want to host the Grand Prix," F1 CEO Stefano Domenicali told CNBC's "Inside Track." The Belgian Grand Prix adds an estimated $248 million to the national economy each year. Abu Dhabi, which held its first Grand Prix in 2009, spent $40 billion constructing an artificial island to do it. "It didn't have anything before the plans for the Abu Dhabi Grand Prix."

Persons: Stefano Domenicali, CNBC's, Domenicali, Abu, Saif Rashid Al Noaimi, YouGov, Robin Fenwick, Guy Antognelli, McLaren, Zak Brown, You've, Lewis Hamilton Organizations: CNBC, Abu, Grand Prix, Monaco, Monaco Government Tourist, Convention Authority, Cannes Film, Cote d'Azur, Bloomberg Locations: Thailand, South Korea, India, Rwanda, Belgian, Europe, America, Belgium, Abu Dhabi, Yas, Grand, Saudi Arabia, U.S, Monte Carlo, Monaco, Cote

☆ Credit card debt among retirees jumps — 'It's alarming,' researcher says
▼ + stars: | 2024-11-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Retirees' debt was rising before the pandemicRising debt levels were a problem for older Americans even before pandemic-era inflation. The typical family with heads age 75 and older had $1,700 of credit card debt in 2022, EBRI said in the August report. Those with heads age 65 to 74 had $3,500 of credit card debt, it said. Meanwhile, any spending cuts should be applied to reduce credit card debt, McClanahan explains. Boost income Retirees can also consider going back to work at least part time to earn more income, McClanahan said.

Persons: Bridget Bearden, Bearden, it's, EBRI, Louis, Carolyn McClanahan, She's, McClanahan, Cardholders, Cook, Ted Jenkin, Winnie Sun Organizations: Research Institute, Social Security, Senior Citizens League, Reserve Bank of St, Federal Reserve, U.S . Federal Reserve, Federal Reserve Bank of St, Planning Partners, CNBC's, CNBC, Facebook, Craigslist, Sun Group Wealth Partners Locations: Louis, Jacksonville , Florida, Irvine , California

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