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LONDON (AP) — Unilever, the company that makes Ben & Jerry’s ice cream, Dove soaps and Vaseline, said Tuesday that it is cutting 7,500 jobs and spinning off its ice cream business to reduce costs and boost profits. London-based Unilever said its ice cream business, which also includes Magnum bars, has “distinct characteristics” from its other brands and would benefit from separate ownership to increase growth. The British consumer goods company with 128,000 employees also said it is launching a “productivity program” that is expected to lead to a reduction of about 7,500 mostly office-based jobs worldwide. The company behind Hellman’s mayonnaise, Axe fragrances and Cif household cleaners said it is targeting underlying sales growth of mid-single digits after spinning off the ice cream business. It saw sales volume drop 3.6% in 2022 after jacking up prices 13.3% on average across its brands that year.
Persons: Hein Schumacher, , Richard Hunter Organizations: — Unilever, Unilever, London Stock Exchange Locations: London
New bank lending in China fell more than expected in February from a record high the previous month, even as the central bank seeks to spur sluggish economic growth and fight deflationary pressures. New bank lending in China fell more than expected in February from a record high the previous month, even as the central bank seeks to spur sluggish economic growth and fight deflationary pressures. Outstanding yuan loans grew 10.1% from a year earlier — the lowest on record — compared with 10.4% growth in January. Analysts polled by Reuters had predicted new yuan loans would fall to 1.50 trillion yuan in February from 4.92 trillion yuan the previous month and against 1.81 trillion yuan a year earlier. Chinese banks made 6.37 trillion yuan in new yuan loans in the first two months of 2024, data released by the central bank showed on Friday.
Organizations: People's Bank of China, Analysts, Reuters, ING, Consumer Locations: Beijing, China
Stock futures were little changed on Monday after a bounce back in tech shares ahead of Nvidia's inaugural artificial intelligence conference. Heading into Tuesday, Nvidia shares showed signs of cooling as investors shift their focus to the Federal Reserve's two-day policy meeting. Futures tied to the S&P 500 slipped 0.12%, while Dow Jones Industrial Average futures slid 8 points, or 0.02%. AI leader Nvidia pulled back roughly 1% in extended trading, as investors evaluate the news from its first-ever GTC Conference. Wall Street is awaiting guidance on the path forward for monetary policy as the Federal Reserve begins its two-day policy meeting on Tuesday.
Persons: Jensen Huang, Blackwell, iPhones, Sam Millete Organizations: Nvidia, Federal, Dow Jones Industrial, Nasdaq, Conference, Tech, Google, Apple, Bloomberg, stoke, Federal Reserve, Commonwealth Financial Network
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInfrastructure is the most exciting story in private markets, says Goldman Sachs' Elizabeth BurtonElizabeth Burton, Goldman Sachs Asset Management client investment strategist, joins 'Closing Bell' to discuss her investment playbook and how to play the market bounce.
Persons: Goldman Sachs, Elizabeth Burton Elizabeth Burton, Goldman Organizations: Infrastructure, Asset Management
Disney gets a win : A major proxy advisor weighed in on the Disney -Trian board battle. Glass Lewis said Monday it recommends Disney shareholders vote for the company's director nominees and not the slate forth by Trian's Nelson Peltz. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Stocks, Glass Lewis, Trian's Nelson Peltz, Jay Rasulo, Nelson, Mondelez, Heinz, Jim, DuPont, Jim said, Stephanie Cohen, Goldman Sachs, Cohen, Jensen Huang, Jensen's, Jim Cramer's, Spencer Platt Organizations: CNBC, Nvidia, Apple, Disney, Procter & Gamble, GE Healthcare, General Electric, GE, Evercore, DuPont, Protection, Samsung, Taiwan Semiconductor Manufacturing, PepsiCo, Constellation Brands, Citi, GEHC, Traders, New York Stock Exchange, Getty Locations: China, New York City
The other day, a friend of mine liked one of my LinkedIn posts. AdvertisementWhy LinkedIn feels so cringeAs much as LinkedIn is a professional platform, something about it feels really personal. There's a reason social-media accounts like Best of LinkedIn, which pokes fun at over-the-top LinkedIn posts, exist. Given the weakness of the official advice, I decided to ask a bunch of people for tips on how to post in a non-cringe way on LinkedIn. I also asked a pair of social-media managers — one at Business Insider and one at a different company — for their thoughts on LinkedIn posting.
Persons: Nathan Allebach, It's, Sunny Xun Liu, thinkfluencers, it's, Brendan Gahan, there's, John Hickey, they're, Brandon Smithwick, Natalie Marshall, Natalie, Marshall, Allebach, Emily Stewart Organizations: LinkedIn, Stanford Social Media, Authority, Business Locations: There's
Christchurch, New Zealand – CNN —Sitting side by side in the mosque’s meeting room, Temel Ataçocuğu and Imam Gamal Fouda hunch over in laughter. But today, the two have agreed to meet at the mosque and catch up on five years’ worth of personal news. But behind his home, a modest townhouse on a quiet street in central Christchurch, he’s found purpose in the flowers, succulents, fruits and vegetables he’s planted. After the shooting, Ataçocuğu was hospitalized for over a month and feared he would never play again. Here, Ataçocuğu is known as a funny, warmhearted and competitive striker, not just a survivor of the Christchurch mosque shootings.
Persons: Temel Ataçocuğu, Gamal Fouda, , Fouda, Ataçocuğu, Imam Gamal Fouda, Vincent Thian, , ” Fouda, ” Ataçocuğu, , Don’t, he’s, Alaa Elassar, can’t, It’ll, It’s, Ataçocuğu’s, Adem, Sami, fatherless, Melis, Allah, Mucad Ibrahim –, Mark Baker, He’s, ” Sami Organizations: New Zealand, CNN, Linwood Islamic, Halswell, Locations: Christchurch, New, Al Noor, Christchurch , New Zealand, Linwood, Linwood Islamic Centre, Alaa
CNN —Golfer Adam Hadwin had built a superb reputation for staying dry at The Players Championship. On Thursday, the water took its long-awaited revenge by claiming two of his balls – and even a club. Across more than four decades, hundreds of the PGA Tour’s finest players have watched in horror as their tee shot splashed into the lake at TPC Sawgrass’ iconic par-three 17th hole. Yet on all of his 28 previous visits to the penultimate tee at the ‘fifth major’, Canada’s Hadwin had safely found the island green. Ten players had found the lake from the tee during the first round, though New Zealand’s Ryan Fox aced the hole, becoming the 14th golfer in Players history to do so.
Persons: Adam Hadwin, Canada’s Hadwin, Hadwin, Sam Greenwood, Hadwin –, Jessica, ” Hadwin, Mike Carlson, Wyndham Clark, Xander Schauffele, Rory McIlroy –, Maddox, day, a, Ze Organizations: CNN, PGA Locations: eled by
That was essentially the Nvidia CEO's message for students at his alma mater, Stanford University, where he spoke last week at the Stanford Institute for Economic Policy Research. When it comes to achieving success, Huang knows more than most. At last week's event, he told Stanford students how he personally developed the resilience necessary to build and run one of the world's most valuable companies. "To this day I use the phrase 'pain and suffering' inside our company with great glee," Huang told the Stanford students. With that in mind, Huang told a newer batch of undergrads last week that he hopes they experience their own character-building struggles: "For all of you Stanford students, I wish upon you ample doses of pain and suffering."
Persons: Jensen Huang, isn't, it's, Huang, he's, Fortune Organizations: Nvidia, mater, Stanford University, Stanford Institute for Economic Policy Research, Bloomberg, Stanford, Research, CNBC
The company is considering raising a Series C before what's left of its $90 million in funding runs out. BeReal closed a $60 million Series B funding round at an around $600 million valuation in late 2022, following a $30 million Series A earlier the same year. Sooner than later, BeReal leadership will be forced to choose between raising another round and maintaining its independence or selling itself outright, running the risk of disappearing. Company leadership holds an all-hands every quarter after they meet with the company's board, which includes investors. As for the possibility of an acquisition, BeReal leadership has told employees there are "offers" that have been made, without giving any specifics.
Persons: Alexis Barreyat, what's, BeReal, Yuri Milner's, Andreessen Horowitz, Barreyat, Romain Salzman, Kali Hays, Callum Burroughs cburroughs@businessinsider.com Organizations: Business, Gas, Yuri Milner's DST, Accel Locations: Paris, Japan, Asia, Pacific, khays@businessinsider.com
People walk along Waterloo Bridge past the City of London skyline, the capital's financial district, on a sunny and mild day. LONDON — U.K. gross domestic product grew 0.2% in January, the Office for National Statistics said Wednesday, as construction output jumped unexpectedly. It follows a 0.1% contraction in December, while the U.K. economy entered a shallow recession in the second half of last year. Construction output was 1.1% higher in January, the ONS said, but fell 0.9% over a three-month period. Services recorded 0.2% growth in January, providing the biggest contribution to growth, as production output fell 0.2%.
Organizations: LONDON, National Statistics, Reuters, Services Locations: London, U.K
Some Russian companies are seeing their business boom thanks to trade with China, Reuters reported. Analysts warn of China's potential losses if sanctions extend to companies there that do business with Russia. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As China buys more Russian energy supplies, Chinese companies are supplying Russian firms with machinery and vehicles, Reuters said. AdvertisementStill, experts warn of underlying risks in Russia's economic reliance on China, as China may have much to lose if sanctions extend to domestic companies.
Persons: , Vladimir Putin, Dmitry Peskov Organizations: Reuters, Service, China, Volkswagen, Renault, Chery Locations: China, Beijing, Russia, Ukraine, Moscow
Core CPI, excluding food and energy prices, was up 3.8% year over year versus 3.7% expected but below January's 3.9%. RBC initiates DexCom with an outperform rating and $165 price target. JPMorgan upgrades Dollar General to neutral from underweight (hold from sell) and hikes price target to $158 per share from $120. The analysts keep an overweight buy-equivalent on Dollar Tree and increase price target to $165 from $157 ahead of earnings this week. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Evercore, Raymond James, Mike Roman, William Brown, Jim Cramer's, Jim Cramer, Jim Organizations: CPI, Treasury, Oracle, Apple, underperform, Southwest Airlines, Boeing, Max, RBC, Abbott Laboratories, JPMorgan, Jim Cramer's Charitable, CNBC
CNBC Pro screened to find the stocks that have moved most in line with bitcoin over the last 50 trading days. We looked at the relationship between the stocks and the flagship crypto over that period, as well as the average rolling correlation over the same time period. Here are the top seven names with the highest rolling correlations: The stocks with the highest correlations should come as no surprise. Further down the list, the connections between the stocks and bitcoin are less immediately clear. The electric vehicle maker has a rolling correlation of 0.31, clinching the sixth spot on the screen.
Persons: bitcoin, QuantumScape, FactSet Organizations: CNBC Pro, Marathon, Riot
Tuesday's CPI report shows slightly higher-than-expected inflation, suggesting that the Federal Reserve is likely to delay potential rate cuts. This could pressure interest rate-sensitive sectors like real estate and set up a potential profitable options trade. The trade The trade structure I am using here is called a "bear put spread". You may find trading platforms using other names like "put debit spread" or "long put spread" too. NOTE: With DLR trading around $146, I am looking to buy an ATM (at-the-money) put spread.
Persons: I've, Fibonacci, Nishant Pant Organizations: CPI, Federal Reserve, Digital Realty Trust, Realty Trust
CNN —Cristiano Ronaldo’s Al-Nassr crashed out of the AFC Champions League after a thrilling tie against Al Ain ended 4-4 on aggregate before the Emirati side triumphed on penalties. Monday’s end-to-end game could have gone either way, though Ronaldo will likely regret his staggering miss in the second half which could have seen Al-Nassr progress to the semifinals. Together, always!”After Al Ain won the first leg 1-0, the visiting team got off to a superb start in Riyadh thanks to two first-half goals from Soufiane Rahimi, whose neat finish had been the difference between the teams last week. Al Ain players celebrate their dramatic victory. Al Ain, chasing its first AFC Champions League title in 21 years, will next face another Saudi Arabian team – either Al-Hilal or Al-Ittihad – in the semifinals.
Persons: CNN — Cristiano Ronaldo’s Al, Nassr, Al Ain, Ronaldo, , Soufiane Rahimi, Khalid, Sadio Mané, Abdulrahman, Fayez, Alex Telles ’, Ayman Yahya, Sultan Al, Shamsi, Raghed Al, Yasser Bakhsh, Marcelo Brozović Organizations: CNN, AFC Champions League, Al, Getty, AFC, League, Saudi Arabian Locations: Riyadh, Portuguese, Al Ain, Saudi, Al, Hilal, Ittihad
By underweighting the experience of certain groups — especially lower-income or frontline workers — policymakers could learn the wrong lessons from the post-pandemic economy. The Great DivergenceIf you ask Americans how the economy is doing, the general sentiment can be summed up in one word: bad. Similarly, the Conference Board's consumer confidence data isn't quite at its post-Great Recession lows, but it's far below its 2017-19 average. The ASEC data uses a very large sample to provide the best possible insight into households' economic well-being, with more than 75,000 households participating. Similarly, the focus on the prospect of a recession soared, even outdoing the period in 2020 when the economy was actually in a recession.
Persons: it's, , Pew Organizations: University of, Conference, Labor Statistics, Government, Bureau of Labor Statistics, NFL, Minnesota Vikings, Green Bay Packers, Chicago Bears, BLS, Census, Federal Locations: telemarketers, nonresponses
But the company also had three canceled orders in January, giving it zero net orders for that month, the worst month for sales in years. Rebound from worst month since pandemicJanuary had been the worst month for sales for Boeing since airlines were struggling with massive losses during the pandemic. The last time Boeing had between one and three gross orders was in June, 2020, when it had only one jet order. The company sold 10 of the troubled 737 Max jets in February, all to unidentified customers. Southwest had planned to also take delivery of a total of 79 737 Max jets, but it no longer expects to get any of the 737 Max 7 jets it had hoped to get this year.
Persons: That’s, Max Organizations: New, New York CNN, Boeing, Alaska Airlines, Alaska Air, Southwest, Royal Brunei Airlines, United Airlines, Ryanair, Sun Express, , China Southern, FAA, Max, Federal Aviation Administration Locations: New York, Alaska, Singapore, United, Southwest, Air India, flydubai, Korean, – Air China, China Southern, Xiamen, Shandong, Donghai, China
YouTuber JerryRigEverything put Elon Musk's claims that the Cybertruck is bulletproof to the test. AdvertisementThe Cybertruck might not be as bulletproof as Elon Musk has advertised. AdvertisementWhile the truck didn't prove entirely bulletproof, Nelson said he was still impressed by its durability. Since the Cybertruck was first announced in 2019, Musk has hyped up the rugged nature of the truck, claiming the vehicle would be entirely bulletproof. AdvertisementDuring an interview with Joe Rogan in 2023, Musk said that the standard Cybertruck wouldn't have bulletproof glass, but the stainless steel doors would still be thick enough to stop a bullet.
Persons: YouTuber JerryRigEverything, Elon Musk's, , Elon Musk, Zach Nelson, Nelson, InsideEVs, Gun, Tesla, Tommy Gun, Musk, Joe Rogan Organizations: Service, Elon, YouTube, Browning
A big selling point of bitcoin exchange-traded funds was their potential to reduce bitcoin's notorious volatility over time. He pointed to funding rates for bitcoin futures contracts, which have soared recently to levels not seen since early 2021. Additionally, open interest, or the number of open positions for a bitcoin futures contract, is at all-time highs. "Realized crypto [volatility] will likely ease as funding rates normalize," Glass said. "Those recurring inflows could dampen volatility of large moves from momentum strategies which basically chase price up and down and amplify swings."
Persons: Bitcoin, , David Glass, Glass, bitcoin, David Wells, Wells, Michael Bloom Organizations: Citi, Investors
What to expect in Friday’s jobs report
  + stars: | 2024-03-07 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +9 min
New York CNN —Don’t be surprised if Friday’s jobs report shows that February’s employment gains were far below those reported for January. In fact, it would continue a history-making stretch of labor market expansion. Friday’s jobs report could very well provide a more reliable read on what’s actually happening in the labor market than the jobs reports of recent months’ past, Julia Pollak, chief economist at ZipRecruiter, told CNN. “And so, February might give us a better understanding of the underlying rate of job growth,” she said. What the other labor market data is showingOther economic data released this week reinforces the idea that the US labor market is cooling but remains on solid footing.
Persons: New York CNN — Don’t, Julia Pollak, autoworkers, what’s, hasn’t, Nixon, ” Ron Hetrick, Gus Faucher, stayers ”, Faucher, , ” Nela Richardson, outplacement, ” Andrew Challenger, Lydia Boussour, EY, Organizations: New, New York CNN, CNN, of Labor Statistics, PNC Financial Services, BLS, Labor, Boomers, ADP, Challenger, , Labor Department Locations: New York, US
The performance of the once-dominant Magnificent 7 stocks has certainly shifted in the first quarter, with charts like Apple (AAPL) beginning to diverge from the rest of the mega-cap growth leadership names. But is the recent decline for AAPL just the beginning? Since a strong rally in the first half of 2023, Apple has essentially been in a basing pattern. The RSI has moved into the oversold range as well, which tells me to expect at least some sort of bounce off this well-established level of price support. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.
Persons: Apple, It's, AAPL, David Keller Organizations: Apple, Nasdaq, RSI, CMT
HONG KONG (AP) — China’s exports and imports for the first two months of the year beat estimates, an indication that demand may be improving as Beijing attempts to boost economic recovery. Exports for the January-February period grew 7.1% from a year earlier, customs data released Thursday showed, higher than the 2.3% rise in December. Imports rose 3.5% from the same time last year, up from a 0.2% growth in December. Demand for Chinese exports has also been weak since the Federal Reserve and central banks in Europe and Asia began raising interest rates last year to cool inflation that was at multi-decade highs. China has set a target of around 5% for economic growth this year, Chinese Premier Li Qiang revealed this week at the annual meeting of the National People’s Congress.
Persons: Li Qiang Organizations: , Beijing, Federal Reserve, PMI, National People’s Congress Locations: HONG KONG, China, Europe, Asia
Unlike last March, the problems of another regional bank have yet to derail the big bank trade. Broadcom and Costco earnings report Thursday after the bell, while the big non-farm payroll report for February is out Friday before the bell. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . A New York Community Bank stands in Brooklyn on February 08, 2024 in New York City.
Persons: Jim Cramer, Morgan Stanley, Jerome Powell, Wednesday's, Nikesh Arora, Jim Cramer's, Jim, Spencer Platt Organizations: CNBC, New York Community Bancorp, Capitol, DuPont, Fermium, Palo Alto Networks, Palo Alto, Burlington Stores, Eagle Outfitters, BJ's Wholesale, Broadcom, Costco, Jim Cramer's Charitable, York Community Bank, Getty Locations: Wells Fargo, Palo, Kroger, Brooklyn, New York City
“We’re going to win this election because we have no choice,” Trump said at his Mar-a-Lago resort as he savored his sweetest election night since he beat Hillary Clinton in 2016. The time for that excuse is going to fast run out now that the shape of the 2024 general election is clear. “Until now, people didn’t think it was going to be Biden versus Trump, but here we are and we’re ready to go,” he said. One reason why Trump didn’t come across as a loser to his supporters was that he convinced grassroots GOP voters that he didn’t actually lose the 2020 election. Democratic control of the Senate and the tiny House GOP majority that fell short of red wave expectations were widely blamed on his botched strategizing.
Persons: Donald Trump, Joe Biden –, Trump, , he’s, We’re, ” Trump, Hillary Clinton, “ We’re, we’re, Biden, cranking, , ” Biden, He’ll, Nikki Haley, Trump’s, , Haley, Mitch Landrieu, Richard Nixon, Bill Clinton, Bernie Sanders, Grover Cleveland, Benjamin Harrison, Cleveland, didn’t, denialism –, P01135809, Mike Pence, Ron DeSantis Organizations: CNN, White, Capitol, Republican, California Republican, Biden, Trump The, GOP, South Carolina Gov, Republican Party, Democrats, White House, Trump, Democratic, Florida Gov Locations: Washington, Virginia, North Carolina , Oklahoma , Tennessee , Maine , Texas , Arkansas , Alabama, Colorado , Minnesota , Massachusetts, California, Lago, , tatters, New Hampshire, South Carolina, North Carolina, Iowa, Atlanta, Trump’s
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