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☆ New home construction in the US plummeted to a 5-month low in January
▼ + stars: | 2024-02-20 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Housing starts collapsed 14.8% month-over-month in January to a five-month low, according to Census Bureau data released Friday. The decline in new construction flies against the trends of strong and rising demand throughout 2023 and into this year. It also marks a reversal from a period of rising supply seen recently, with new housing starts jumping 14.8% last November. David Rosenberg, economist and president of Rosenberg Research, said in a note that it's hard to determine how much seasonal factors like inclement weather played a part in sending construction starts tumbling last month. Rosenberg added that a strong pipeline of multifamily construction will continue to impact the market for the foreseeable future.

Persons: David Rosenberg, West . Rosenberg Organizations: Business, Rosenberg Research Locations: Midwest, West

☆ Young people are flocking to Florida. It's boosting the state's economy, but living there comes with hidden costs.
▼ + stars: | 2024-02-19 | by ( Cork Gaines | ) www.businessinsider.com time to read: +7 min

Florida, which has long attracted new residents thanks to its beaches and absence of state income tax, is getting an economic boost driven by young Americans seeking new opportunities. AdvertisementYoung people are driving Florida's economic strength. Getty ImagesFlorida's economy is growing thanks to the newcomersFlorida's population surge is driving the state's robust economy and demand for housing. The Sunshine State's economy is projected by Wells Fargo to expand in 2024, propelled by a robust job market. Thanks to the more damaging weather, Floridians paid more for home insurance in 2023 and the second-most for car insurance compared with other states.

Persons: —, Wells, Sean Pavone, Wells Fargo, Taylor Tyson, Miami —, Policygenius, Hurricane Ian, Matias J, Forbes, Michael Bordenaro Organizations: Service, Smart Asset, " Employers, Wells, —, Census, SEC, Miami, Miami Herald, Tribune, Getty Locations: Florida, Florida . Florida, Tampa , Florida, Wells, — New York , California, New Jersey, California, New York, Florida — Jacksonville, Tampa, Hurricane, Miami, St, Petersburg

☆ Remember the labor shortage? Immigrants are helping to fix it.
▼ + stars: | 2024-02-19 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +5 min

AdvertisementThat means the strong job numbers of recent months have largely been due to immigrants , specifically foreign-born workers, entering the workforce in large numbers. “Foreign-born labor force participants have accounted for all of the job growth over the last year,” Bill Adams, an economist at Comerica Bank, told The New York Times. AdvertisementAdditionally, he said these job gains haven’t come at the expense of US-born workers either. As of 2022, foreign-born workers were more likely than US-born workers to be in service, natural resources, construction, and maintenance jobs, according to the Bureau of Labor Statistics. As of January, 65.7% of foreign-born workers were working or looking for work, compared to 61.4% of US-born workers.

Persons: —, ” Bill Adams, Paul Krugman, “ They're, ”, Louis, Miguel Faria, Castro, Donald Trump Organizations: Service, Business, Comerica Bank, New York Times, Bureau of Labor Statistics, Immigrants, Congressional, Office, St, Louis Fed

NEW YORK (AP) — Paramount Pictures’ Bob Marley biopic “Bob Marley: One Love” outperformed expectations to debut at No. But on a weekend that was once expected to go to “Madame Web,” “One Love” emerged as the much-preferred option in theaters, despite largely poor reviews. Over six days, Sony is estimating a $15.2 million weekend and a six-day $25.8 million haul. “Madame Web” still couldn’t come close to the $39 million domestic opening weekend for “Morbius.” In 61 overseas markets, “Madame Web” added $25.7 million. The 2024 box office has gotten off to a sobering start for Hollywood, and the disappointing result for “Madame Web” won’t help.

Persons: Bob Marley, Sony’s, ”, Kingsley Ben, Marley, Elvis, Chris Aronson, Bob Marley’s, Aronson, “, Reinaldo Marcus Green, Ziggy, Rita, Ziggy Marley, bode, Madame, Dakota Johnson, Paul Dergarabedian, Morbius ”, Morbius, Annie Awards, —, Annie, Moviegoing, Comscore, “ Wonka, “ Lisa Frankenstein, Jake Coyle Organizations: — Paramount, ” Paramount, President’s, Paramount, Rotten, Sony, Academy, Hollywood Locations: Jamaica, New York, “

Mortgage rates rose following the release of the latest Consumer Price Index data, and they remain elevated today. Though the Fed doesn't directly impact mortgage rates, investor expectations of Fed policy moves can push mortgage rates up or down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Up Closer to 7% (+0.24%)The current average 30-year fixed mortgage rate is 6.68%, up 24 points from where it was this time last week. 15-Year Fixed Mortgage Rates Back Above 6% (+0.31%)The average 15-year mortgage rate is 6.05%, up 31 points from last week.

Persons: they've, we'll, you'll, It's, refinance Organizations: of Labor Statistics, Federal Reserve, Zillow, FHA Locations: reaccelerate, Chevron

That is why the casinos consider their core business to be money won from in-person gamblers. The in-person total continues to decline, still lagging the levels seen before the COVID19 pandemic began in early 2020. Golden Nugget won $63.5 million, up over 23%; Hard Rock won $51.5 million, up 19%; Ocean won $39.1 million, up more than 13%, and Tropicana won $26.1 million, up 4.5%. Bally's won $18.9 million, up 15.3%; Harrah's won $16.5 million, down 17.5%; Caesars won $15.1 million, down 7.6%; and Resorts won $10.8 million, down less than 1%. Golden Nugget won $11.2 million from in-person gamblers, up 2.3%; Resorts won $10.9 million, down 1.4%; and Bally's won $10 million, down nearly 13%.

Persons: Jane Bokunewicz, Lloyd Levenson, “, ”, James Plousis, Bally's, Harrah's, Borgata, Ocean, Wayne Parry Organizations: CITY, of Gaming Enforcement, Atlantic, Stockton University, Atlantic City, New Jersey Casino Control, Meadowlands, Jersey Shore, Freehold Raceway, Golden Nugget, Ocean, Tropicana, Caesars, Resorts, Resorts Digital, Caesars Interactive Locations: N.J, New Jersey, East Rutherford, New York City, Monmouth, Oceanport, Jersey, www.twitter.com

☆ Japan is no longer the world's third-largest economy as it slips into recession
▼ + stars: | 2024-02-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Japan has lost its spot as the world's third-largest economy to Germany, as the Asian giant unexpectedly slipped into recession. Fourth quarter GDP sharply missed forecasts for a 1.4% growth in a Reuters poll of economists. On a quarter-on-quarter basis, GDP slipped 0.1%, compared with a 0.3% rise expected in the Reuters poll. Germany, on the other hand, saw its nominal GDP grow 6.3% to reach 4.12 trillion euros, or $4.46 trillion based on last year's average exchange rate. Nominal GDP measures the value of output in current dollars, without adjusting for inflation.

Organizations: Nikkei, Bank of Locations: Tokyo, Japan, Germany, Bank of Japan

BANGKOK (AP) — Shares rose in Asia on Thursday after Wall Street stocks recovered much of their sharp losses from a day before. On Wednesday, the S&P 500 climbed 1% to 5,000.62, clawing back more than two-thirds of its loss from Tuesday. It was the single strongest force lifting the S&P 500 index. Most companies in the S&P 500 have been topping analysts’ forecasts for the last three months of 2023. Hopes for stronger growth in 2024 from a solid economy have been another reason the S&P 500 has set 10 records already this year.

Persons: Australia's, Taiwan’s Taiex, India's Sensex, Russell, Lyft, Airbnb Organizations: Wall, Bank of Japan, Nikkei, Reserve, Dow Jones Industrial, Nasdaq, Treasury, Nvidia, Technologies, Akamai Technologies, New York Mercantile Exchange, Brent, U.S Locations: BANGKOK, Asia, Seoul, Japan, Britain, China, Germany, Hong Kong, Bangkok, Italy, U.S

EVANSVILLE, Wis. (AP) — The first tornadoes ever recorded in Wisconsin in the usually frigid month of February caused more than $2.4 million in damage, officials said Wednesday. The tornadoes that ripped through Rock County on Feb. 8 killed some cattle and hit 30 homes, officials said. One confirmed tornado near Evansville was a “high end” F2, the weather service said. Those tornadoes are described as “significant,” with winds in this particular twister topping out at 135 mph (220 kph). The tornadoes were the first Wisconsin has experienced during the month of February since at least 1950, when records started being kept.

Persons: Kevin Wernet Organizations: Rock County Emergency Management Locations: EVANSVILLE, Wis, Wisconsin, Rock County, Porter, Fulton, Evansville, Juda

☆ Deflation: Here's where prices fell in January 2024, in one chart
▼ + stars: | 2024-02-14 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

These are the big deflationary factors"A lot of factors have come together to push goods prices down," said Mark Zandi, chief economist at Moody's Analytics. In addition to normalizing supply-demand dynamics, a historically strong U.S. dollar relative to other global currencies has also helped rein in goods prices, Zandi said. Falling energy prices have also put downward pressure on goods prices, due to lower transportation and energy-intensive manufacturing costs, economists said. Lower energy prices also put downward pressure on the transportation of food to store shelves. Consumers get more for roughly the same amount of money, which shows up as a price decline in the CPI data.

Persons: RC Willey, George Frey, Jay Bryson, there's, Mark Zandi, Zandi, rebalancing, J.P, Hopper Organizations: RC, Bloomberg, Getty, U.S . Bureau of Labor Statistics, Wells, Wells Fargo Economics, Moody's, U.S . Federal, Services, Finance, Morgan's, Investment, Group, of Labor Statistics Locations: Draper , Utah, Wells Fargo, U.S, Salinas, California

ATLANTA (AP) — A nuclear power plant in Georgia has begun splitting atoms in the second of its two new reactors, Georgia Power said Wednesday, a key step toward providing carbon-free electricity. The unit of Atlanta-based Southern Co. said operators reached self-sustaining nuclear fission inside the reactor at Plant Vogtle, southeast of Augusta. Georgia Power says operators will raise power and sync up its generator to the electric grid, beginning to produce electricity. The new Vogtle reactors are currently projected to cost Georgia Power and three other owners $31 billion, according to calculations by The Associated Press. Georgia Power owns 45.7% of the reactors, with smaller shares owned by Oglethorpe Power Corp., which provides electricity to member-owned cooperatives; the Municipal Electric Authority of Georgia; and the city of Dalton.

Persons: Georgia Power, That’s Organizations: ATLANTA, Georgia Power, Southern Co, Plant Vogtle’s, Georgia, Regulators, Associated Press, Westinghouse, Oglethorpe Power Corp, Municipal Electric Authority of Locations: Georgia, Atlanta, Augusta, Vogtle, American, Municipal Electric Authority of Georgia, Dalton, Florida, Alabama

DOHA, Qatar (AP) — Siobhán Haughey of Hong Kong captured her first long-course world title, winning the women's 200-meter freestyle Wednesday at the World Aquatics Championships. Haughey, a three-time champion at the short-course worlds, finally touched first in the big pool after years of close calls. She was the Olympic silver medalist in both the 100 and 200 free at the Tokyo Games, in addition to a runner-up finish in the 100 free at last summer's world championships in Fukuoka. Also, Haughey finished fourth in the 200 free — just off the podium — at both the 2019 and 2023 worlds. “I really wanted to win this one,” said Wiffen, the short-course world record holder in the 800 free.

Persons: — Siobhán Haughey, Hong, Haughey, “, Ireland’s Daniel Wiffen, ”, Wiffen, Mollie O'Callaghan, Ariarne Titmus, Zealand's Erika Fairweather, Brianna Throssell, Elijah Winnington of, Italy's Gregorio Paltrinieri —, Iffland, Molly Carlson, Jessica Macauley, Kaylea Arnett, France's Gary Hunt, ___ Organizations: Tokyo Games, Paris Olympics, Doha, Australia, Doha Old Locations: DOHA, Qatar, Hong Kong, Fukuoka, “ Paris, Paris, Elijah Winnington of Australia, Doha, Doha Old Port, Canada

☆ Uber drivers say the job has become more competitive — and that it's made their work less profitable
▼ + stars: | 2024-02-14 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Some Uber and Lyft drivers say it's become harder to make money over the past year. AdvertisementMany Uber and Lyft drivers say ride-hailing has become less profitable than it used to be, and some are blaming that on the gig's popularity. Fred is one of several drivers who told Business Insider that an increase in drivers has contributed to fewer available — and lower-paying — trips. This came after the number of global Uber drivers increased 31% in 2022 to a record five million. One San Francisco-based Lyft driver told BI that Waymo's self-driving taxis in the city have added another layer of competition.

Persons: —, Fred, Uber, Lyft, it's, Rich, I'd Organizations: Service, Business, Arizona Uber Locations: Virginia, San Francisco, Arizona

☆ ESPN Bet plans launch in New York, the largest U.S. betting market
▼ + stars: | 2024-02-13 | by ( Contessa Brewer | ) www.cnbc.com time to read: +2 min

ESPN Bet is coming to the Big Apple. Wynn Interactive, a subsidiary of Wynn Resorts, was awarded a New York mobile sports betting license in 2021. Penn was not — and it has missed out on the action from the nation's largest sports betting market. But Eilers & Krejcik estimated ESPN Bet came away with 8% market share when it launched in November, good enough to take a third-place position. Now, if New York gaming regulators sign off on the license transfer to Penn, ESPN Bet could provide new and potentially formidable competition in the nation's biggest sports betting market.

Persons: Wynn, Penn, Dave Portnoy, Portnoy, FanDuel, Shaun Kelley, Taylor Swift, Travis Kelce Organizations: ESPN Bet, Big Apple, Penn Entertainment, Wynn Resorts, Wynn Interactive, New, New York, Gaming Commission, ESPN, National Football League, Caesars, Krejcik, Bank of America, NFL, Kansas City Chiefs, Penn, CNBC PRO Locations: New York, Pennsylvania, BetMGM

☆ Gold flat ahead of US inflation data
▼ + stars: | 2024-02-13 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were little changed on Tuesday, as investors held back from making big bets ahead of a U.S. inflation report that could give fresh perspective on the timing of the Federal Reserve's first rate cut. Spot gold was flat at $2,018.71 per ounce, as of 0424 GMT, after briefly slipping to a more than two-week low of $2,011.72/Oz on Monday. All eyes are on the January U.S. consumer price index inflation data due at 13:30 GMT. Americans reported a fairly stable outlook for inflation at the start of the year, a New York Fed survey showed. Spot platinum was flat at $888.89 per ounce, palladium rose 1.5% to $905.71, and silver edged 0.1% higher to $22.71.

Persons: Tim Waterer, Wang Tao Organizations: Federal, KCM Trade, New, Fed, Reuters, U.S ., Traders, U.S Locations: Moscow, Russia, U.S, ., China, Hong Kong

The East Coast Is Sinking New satellite-based research reveals how land along the coast is slumping into the ocean, compounding the danger from global sea level rise. SINKING BY 2050 RISING –5 +5 cm –20 –15 –10 0 Atlantic City is sinking up to 4 centimeters per decade. SINKING BY 2050 RISING –5 +5 cm –20 –15 –10 0 Several hotspots in Maryland are sinking over 10 centimeters per decade, while other areas are rising. SINKING BY 2050 RISING –5 +5 cm –20 –15 –10 0 Charleston, S.C., which is affected by groundwater pumping, is sinking up to 5.7 centimeters per decade. Portland, Maine 47.0 cm 45.8 cm +40 cm 40.6 cm Relative sea level rise 33.8cm +30 cm +20 cm SUBSIDENCE +10 cm Change since 1925 Global sea level rise 1925 2023 1925 2023 1925 2023 1925 2023 Sources: Dangendorf (2019) and the National Oceanography Centre.

Persons: ”, Leonard Ohenhen, Kenneth Miller, Inner Harbor BOSTON Charles, “, Miller, “ We’ve, Sandy, we’ve, Sandy Hertz, Hertz Organizations: Virginia Tech, U.S . Geological Survey, NASA, Rutgers University ., Places New, National Oceanography, The New York Times, East Boston Charleston East Cambridge Airport, Inner, Pleasure, Roxbury, Boston City Archives, Boston Public Library, Boston Groundwater Trust, PNAS, Rutgers University, American Society of Civil Engineers, Army Corps of Engineers, Maryland Department of Transportation Locations: Boston, New York City, Long, Maryland, Hampton, Va, Charleston, S.C, Florida, Miami, Places New York City, N.Y, Atlantic City, N.J, Mass, Portland , Maine, York City, New Jersey, East, Inner Harbor BOSTON, Pleasure Bay, Savin, Roxbury Grove, Shirzaei, Cape Canaveral, exurbs, Delaware, Atlantic, East Coast

☆ Stocks making the biggest moves midday: JetBlue Airways, Shopify, Biogen and more
▼ + stars: | 2024-02-13 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Shopify — The e-commerce company saw shares slide more than 10% after it gave a mixed forecast for the current quarter. The company did beat fourth-quarter earnings and revenue estimates. Arista Networks — The computer networking stock fell 4% despite topping fourth-quarter estimates. Marriott International — The hotel chain stock declined 5.7% after missing fourth-quarter revenue estimates. Biogen — The biotechnology stock slumped more than 6% after missing Wall Street's fourth-quarter estimates as revenue and profit declined from a year ago.

Persons: WK Kellogg, Shopify, Goldman Sachs, Marriott's, ZoomInfo, Carl Icahn, Wall, Tripadvisor, Horton, Lennar, Bruker, Microstrategy, CleanSpark, —, Macheel, Samantha Subin, Yun Li, Sarah Min, Alex Harring Organizations: Arista Networks, Marriott, ZoomInfo, —, LSEG, JetBlue Airways —, Hasbro, &, Toll, Cadence, Systems, Cadence Design Systems, Miners, Iris Energy

☆ Stocks making the biggest moves midday: New York Community Bancorp, Diamondback Energy, VF Corp. and more
▼ + stars: | 2024-02-12 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Bank of America also reiterated its neutral rating on Monday, while noting that leadership has "the playbook to turn things around." Diamondback Energy — The shale producer jumped 9.4% after announcing its purchase of Endeavor Energy, the biggest private company that produces natural resources from the Permian Basin. CymaBay Therapeutics , Gilead — Shares of CymaBay soared 25.4% after Gilead agreed to buy the drug developer. The deal comes as Gilead, whose shares were up around 1% in Monday's session, looks to expand beyond HIV drugs. Marqeta — The credit card technology stock added 5.7% after a Bank of America upgrade to buy from neutral.

Persons: Gilead, Bracken Darrell, Trimble, —, Joe Ahlersmeyer, Piper Sandler, Teva, Samantha Subin, Sarah Min Organizations: New York Community Bancorp, Bank of America, Endeavor Energy, CymaBay Therapeutics, Gilead, VF Corp, Reuters, Mohawk Industries, Deutsche Bank, Citi, Space Development Agency, Teva Pharmaceutical —, JPMorgan, Nvidia Locations: Israel

☆ Consumers are stressed. It could be showing in how we bought toys in 2023
▼ + stars: | 2024-02-11 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +6 min

New York CNN —Consumers bought fewer toys in all of 2023, including during the key Christmas toy-buying period, showing that households continue to pare back on discretionary products. But toy sales in all of 2023 dropped 8%, both in dollar terms (how much consumers paid for toys) and in unit sales (meaning how many toys consumers bought). This shows that shoppers bought fewer toys but also traded down in prices to cheaper toys. “While 2023 was a challenging year for the U.S. toy industry, the four-year compound annual growth rate remains positive,” she said. Among the toys that consumers did buy in 2023, Pokémon, Barbie and Squishmallows were the top three best-selling brands last year, according to Circana.

Persons: pare, Circana, ”, Juli Lennett, Lennett, I’ve, “, ” Lennett, ” Jon Copestake, EY, ” Copestake, ” Robby Pettinato, Joy, ” Pettinato, Toy Joy, “ Anecdotally, “ That’s, it’s, Pettinato, Barbie, Squishmallows, Price, Melissa, Doug, – CNN’s Alicia Wallace, Katie Lobosco Organizations: New, New York CNN — Consumers, Commerce Department, Hasbro, Wild, Inc, CNN, ”, Star, Marvel, Disney Locations: New York, United States, U.S, Austin

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Jump Up (+0.43%)The current average 30-year fixed mortgage rate is 6.48%, up 43 points from where it was this time last week. 20-Year Fixed Mortgage Rates Increase (+0.39%)The average 20-year fixed mortgage rate is up quite a bit from last week, and is sitting at 6.22%. 15-Year Fixed Mortgage Rates Go Up (+0.37%)The average 15-year mortgage rate is 5.78%, up 37 points from last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Tick Up (+0.19%)The average 30-year refinance rate is 6.26%, just 19 basis points higher than last week.

Persons: you'll, It's, refinance Organizations: Investors, Federal Reserve, Zillow, FHA Locations: Chevron

☆ This index will beat the S&P 500, with inflation set to be among 2024's 'biggest risks,' BofA says
▼ + stars: | 2024-02-09 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Investors should prefer the Canadian TSX Composite benchmark index in 2024 to the S & P 500 , according to Bank of America. Last year, while inflation was moderating, the TSX underperformed the S & P 500 by 16 percentage points. However, the Canadian index beat the S & P 500 in 2022 when inflation was investors' prime concern. According to FactSet, the P/E currently stands at 15.75x, lower than the 20.28x of the S & P 500. Canadian investors can access the index through the near-identical iShares Core S & P/TSX Capped Composite Index ETF and BMO S & P/TSX Capped Composite Index ETF .

Persons: Ohsung Kwon, FactSet, Kwon, SPX Organizations: Canadian, Bank of America, TSX, of America's, BMO, U.S Locations: of America's Canada, 15.75x, United States, Canada, Yom Kippur, Vietnam

☆ Oil prices headed for weekly gains as Israel rejects ceasefire offer
▼ + stars: | 2024-02-09 | by ( ) www.cnbc.com time to read: +1 min

Oil prices rose in early trade on Friday, on track for weekly gains, with tensions persisting in the Middle East after Israel rejected a ceasefire offer from Hamas. Brent futures climbed 8 cents, or 0.1%, to $81.71 a barrel by 0119 GMT, while U.S. West Texas Intermediate crude futures rose 17 cents, or 0.2%, to $76.39 a barrel. Oil prices rose about 3% in the previous session as Israeli forces bombed the southern border city of Rafah on Thursday after Prime Minister Benjamin Netanyahu rejected a proposal to end the war in the Palestinian enclave. The tensions have kept oil prices elevated, with Brent and WTI both set to gain 5.7% for the week. It is also voluntarily cutting crude exports by 300,000 bpd and fuel exports by 200,000 bpd from the average May-June level.

Persons: Brent, Benjamin Netanyahu, WTI Organizations: U.S, West Texas, Hamas, Organization of, Petroleum Locations: East, Israel, Rafah, Gaza, Cairo, Egypt, Qatar, Ukraine, OPEC, Russia

☆ The Link, Dubai: The UAE’s longest suspended infinity pool just opened on the world’s longest cantilever building
▼ + stars: | 2024-02-08 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +6 min

The newly opened twin skyscrapers One Za’abeel are home to the world’s longest cantilever building and on it, the United Arab Emirates’ longest suspended infinity pool, which is 120 meters (393 feet) in length. The 120-meter-long (394-feet) pool at The Link is the UAE's longest suspended infinity pool. World's highest infinity pool: Dubai has another Guinness World Record to add to the pile. Courtesy Address Hotel + Resorts Two world records: The skybridge connecting the top part of Jumeirah Gate is home to luxury apartments. Courtesy Address Hotel + Resorts Bedroom: There are 217 guest rooms and suites in the hotel and close to 1,000 apartments in Address Beach Residences.

Persons: Fadi Jabri, “, it’s, Badr Benryane, “ It’s, ”, Benryane, You’re, Skypool, it's Organizations: CNN, CNN —, United, United Arab Emirates ’, Nikkei, cabanas, VIP cabanas, Resorts Zeta, Zeta Seventy, Eiffel, Covid Locations: CNN — Dubai, United Arab, Sekkei Dubai, Peruvian, loungers, Dubai, Jumeirah, Badr

☆ Tim Cook, Steve Ballmer and Jamie Dimon are among the few US billionaires who didn't found a company or inherit a fortune
▼ + stars: | 2024-02-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewVirtually all of America's billionaires either founded a wildly successful company or inherited a vast fortune. Apple CEO Tim Cook, JPMorgan CEO Jamie Dimon, and former Microsoft CEO Steve Ballmer are among the few exceptions. Ballmer leads the pack with an estimated fortune of $143 billion, according to the Bloomberg Billionaires Index largely due to his near-4% stake in Microsoft. AdvertisementRemarkably, Ballmer ranks sixth on the Bloomberg list, just one spot and $3 billion behind the Microsoft cofounder. Other industry stalwarts include Meta's former operating chief, Sheryl Sandberg ($2 billion), and former eBay CEO Meg Whitman ($3 billion).

Persons: —, Tim Cook, Jamie Dimon, Steve Ballmer, Forbes, Bill Gates, Ballmer, Eric Schmidt, Charles Simonyi, Jeff Rothschild, Jeff Skoll, Sheryl Sandberg, Meg Whitman, Justin Sullivan, Snowflake, Frank Slootman, Apple's Cook, Safra Catz, Lisa Su, Ramzi Musallam, JPMorgan's, Goldman Sachs, Lloyd Blankfein, Tor Peterson, Paul Saville, homebuilder Organizations: Service, Apple, JPMorgan, Business, Bloomberg, Microsoft, Facebook, eBay, Getty Images Tech, Forbes, Oracle, AMD, Veritas Capital, Blackstone, KKR Locations: Silver

☆ Roblox shares rise 13% after company beats estimates and issues strong guidance
▼ + stars: | 2024-02-07 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Roblox reported results for the fiscal fourth quarter on Wednesday that beat consensus estimates on the top and bottom lines. Here's how the company did:Losses per share: 52 cents vs. 55 cents expected by analysts, according to LSEG, formerly Refinitiv. Revenue (bookings): $1.13 billion vs. $1.08 billion expected, according to LSEG. The revenue figure is what Roblox calls bookings, a category that includes sales recognized during the quarter and deferred revenue. The company provided guidance for 2024 and the first fiscal quarter.

Persons: Roblox, David Baszucki, Baszucki, CNBC's Steve Kovach Organizations: New York Stock Exchange, Revenue, & Locations: & Canada

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