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☆ Lebanon sees deadliest day of conflict since 2006 as Israeli strikes kill more than 356
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +5 min

The Israeli military said Monday evening it had carried out a targeted strike in Beirut. Lebanese Health Minister Firass Abiad told a news conference in Beirut the earlier strikes hit hospitals, medical centers and ambulances. The Israeli military announced it hit some 800 targets, saying it was going after Hezbollah weapons sites. Meanwhile, Hezbollah said in a statement that it fired dozens of rockets toward Israel, including at military bases. Lebanon's state-run National News Agency said the strikes hit a forested area in the central province of Byblos for the first time since the exchanges began.

Persons: Rabih Daher, Benjamin Netanyahu, Netanyahu, Abed, Hezbollah's, Firass Abiad, Mahmoud Zayyat, Daniel Hagari, Herzi Halevi, Israel, Halevi, Rafael, Ibrahim Aqil Organizations: Afp, Getty, Lebanese, National News Agency, Lebanese Health, Iran's, Guards, Hezbollah, Sunday, Hamas, Associated Press, Fighters Locations: Marjayoun, Lebanon, Israel, Sidon, Beirut, Lebanon's, Bekaa, Byblos, Lebanese, Syria, Haifa, Gaza, Iran, Beirut's

☆ A rare polar bear showed up on the shores of Iceland. Police shot it
▼ + stars: | 2024-09-23 | by ( Associated Press | ) edition.cnn.com time to read: +3 min

London AP —A rare polar bear that was spotted outside a cottage in a remote village in Iceland was shot by police after being considered a threat, authorities said Friday. “In this case, as you can see in the picture, the bear was very close to a summer house. The bear shot on Thursday was the first one seen in the country since 2016. It also found there was a healthy bear population in east Greenland where any bear was likely to have come from. After the shot bear was taken away, the woman who reported it decided to stay longer in the village, Jensson said

Persons: Helgi Jensson, “, ” Jensson, Jensson, Anna Sveinsdóttir, Sveinsdóttir Organizations: London AP, Environment Agency, Westfjords, Associated Press, Icelandic Institute of, Wildlife Society, United, Coast Guard Locations: Iceland, Reykjavik, Greenland, Canada, Norway, Russia, United States

☆ Luxury stocks slip as fears grow of a prolonged downturn
▼ + stars: | 2024-09-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesLONDON — European luxury stocks tumbled on Monday as analysts warned of a deteriorating demand outlook, particularly among high-spending Chinese consumers. "Following the post-Covid peak in consumption in 2022, luxury sector revenues have been sequentially slowing. Across European luxury firms, they expect a 1% revenue decline in 2024. The Stoxx Europe Luxury 10, an index tracking top names in the sector, managed to hold flat but has fallen 3.82% in the year to date. 'Prolonged period of weakness'They're not alone in their bearish view on Europe's luxury sector.

Persons: Hugo Boss, Germany's Hugo Boss, Burberry, Kering, Hermes, Jon Cox, Kepler Cheuvreux, CNBC's, Cox Organizations: Hugo, Hugo Boss AG, Bloomberg, Getty, Bank of America, Korean, BofA Securities, Kepler, U.S, CNBC, Burberry Locations: Shanghai, China, American, Europe

☆ This Wall St CEO is still trumpeting the benefits of WFH
▼ + stars: | 2024-09-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Read previewWork-from-home is working for one top Wall Street firm. AdvertisementThat's resulted in a host of benefits for the firm's workers, Orszag said, adding that he believed WFH allowed its bankers to retain a sense of "agency." Tracy Farr, a Lazard managing director, also praised the benefits of the firm's hybrid policy in a LinkedIn post. Advertisement"Our hybrid work policy has been a game changer. Many other big Wall Street firms have pushed back on the work-from-home movement.

Persons: —, Peter Orszag, Lazard, Orszag, WFH, Tracy Farr, Farr, I've, Goldman Sachs Organizations: Service, Wall, Business, Lazard's New, Bloomberg, JPMorgan Locations: Lazard's, Lazard's New York

☆ Stock market today: Dow ends at a record high as markets see rising odds of another big rate cut
▼ + stars: | 2024-09-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks rose Monday, with the Dow closing at a record high amid hopes for more rate cuts. Odds of a 50 basis point rate cut at the next FOMC meeting increased to 53%, up from 29% last week. AdvertisementUS stocks gained on Monday with the Dow Jones Industrial and S&P 500 closing at record highs as hopes of more Fed interest rate cuts ramped up. According to the CME FedWatch Tool, markets expect the Fed funds rate to fall to below 3% by the end of 2025, from 4.83% on Monday. That lines up with Kashkari's projection for the long-term Fed funds rate to sit at around 2.9%.

Persons: —, Austan Goolsbee, Neel Kashkari, Goolsbee, Kashkari Organizations: Dow, Service, Dow Jones Industrial, Federal, Chicago Fed, Minneapolis Fed, Fed Locations: Chicago

☆ Mike Lynch's sunken superyacht may contain safes with highly classified intelligence inside: reports
▼ + stars: | 2024-09-23 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +1 min

Italian authorities have requested heightened security around Mike Lynch's sunken superyacht. Watertight safes on board the Bayesian may hold sensitive intelligence data, sources told CNN. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementItalian authorities have requested heightened security around Mike Lynch's sunken superyacht, over fears that safes on board contain highly sensitive intelligence data, according to reports.

Persons: Mike Lynch's, Lynch, — Organizations: CNN, Service, Business Locations: Sicily, British

☆ Exclusive: American held for 8 years in notorious Iranian prison tells of ordeal
▼ + stars: | 2024-09-23 | by ( Ben Kirby | Claire Calzonetti | ) edition.cnn.com time to read: +14 min

Namazi previously spoke with Amanpour by phone in March 2023 from inside Iran’s notorious Evin Prison, in what was an unprecedented interview. “That is the smell of freedom.” Forty years later, Siamak Namazi emerged into the night air after eight years in prison. The logistics of his prison interview weren’t complicated. And it’s not just an American problem: Evin Prison is “a dystopian United Nations of hostages,” Namazi says, with many countries’ citizens behind bars. Emotion in his voice, Namazi tells Amanpour that, eventually, he’d like to meet the man who freed him.

Persons: Siamak, CNN’s Christiane Amanpour, ”, Namazi, Amanpour, Babak, ” Namazi’s, Siamak Namazi, “, Jonathan Ernst, …, Joe, Biden, ” ‘, ” Namazi, Dave, I’m, “ unutterable, Namazi’s, Saddam, Hussein, ’, Zahra Kazemi, I’d, Jared Genser, Genser, he’d, could’ve, Christiane Amanpour, Neil Hallsworth, crackly, Emad, Morad Tahbaz, Donald Trump, –, Antony Blinken, Janet Yellen, wasn’t, Biden’s Organizations: CNN, Obama, Trump, Getty, State Department, New York Times, Evin, Republicans, United Nations, United, Iranian Revolutionary Guard Corps Locations: American, Iran, United States, AFP, ”, Evin, America, Vienna, Austria, United States of America, Republic, White Plains , New York, Islamic Republic, Iranian, New York, United Nations

☆ Levi's teases Beyoncé collaboration as denim trend takes hold
▼ + stars: | 2024-09-23 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +1 min

Beyoncé at the 2024 iHeartRadio Music Awards held at the Dolby Theatre in Los Angeles on April 1, 2024. Levi Strauss summoned the Beyhive on Monday after teasing a potential collaboration with Beyoncé in a post on Instagram. Aside from the allusions to Beyoncé's latest album, "Cowboy Carter," Levi's also tagged the superstar's account in the post, fueling buzz from her fanbase, known as the Beyhive. Levi's second-quarter earnings in June missed Wall Street's sales expectations, but the brand's leadership has maintained that the future of denim is bright. Representatives for Levi's did not immediately respond to CNBC's request for comment on the potential Beyoncé collaboration.

Persons: Levi Strauss, Cowboy Carter, Levi's, Michelle Gass Organizations: Dolby Theatre, Beyoncé, Abercrombie, Fitch Locations: Los Angeles

☆ Qualcomm buying Intel doesn't make sense, Wall Street's top chip analyst says
▼ + stars: | 2024-09-23 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +1 min

Qualcomm is reportedly interested in acquiring Intel, but analysts are skeptical. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But one of Wall Street's most heeded chip luminaries has waded in, and he's largely not in favor.

Persons: —, Stacy Rasgon Organizations: Qualcomm, Intel, Service, Business

☆ Intel is in talks to get an investment of up to $5 billion from Apollo, report says
▼ + stars: | 2024-09-23 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

Apollo Global Management is in talks to invest up to $5 billion into Intel, Bloomberg reports. It follows a separate report that Qualcomm approached Intel about a potential takeover. Go to newsletter preferences Thanks for signing up! AdvertisementIntel could be getting a capital injection of up to $5 billion from asset management powerhouse Apollo Global Management, Bloomberg reported on Sunday. According to the report, the "equity-like" investment is still under discussion, and no deal has been finalized.

Persons: — Organizations: Apollo Global Management, Intel, Bloomberg, Qualcomm, Service, Business

☆ Koch network backed Mark Robinson, embattled North Carolina GOP Gov. candidate
▼ + stars: | 2024-09-23 | by ( Brian Schwartz | ) www.cnbc.com time to read: +2 min

Mark Robinson, Lieutenant Governor of North Carolina and candidate for Governor, delivers remarks prior to Republican presidential nominee former President Donald Trump speaking at a campaign event at Harrah's Cherokee Center on August 14, 2024 in Asheville, North Carolina. The political network largely funded by billionaire industrialist Charles Koch has been quietly backing North Carolina Lt. Gov. Mark Robinson despite a litany of controversies, according to records uncovered by CNBC. Though Robinson has denied he wrote the scores of posts, at least four of his top aides from his North Carolina gubernatorial campaign resigned within days of the report's publication. The move by Americans for Prosperity to back Robinson from a policy perspective surprised some North Carolina Republican strategists.

Persons: Mark Robinson, Donald Trump, Charles Koch, Koch, Robinson, It's, Sen, Ted Budd, Josh Stein, We've, Jonathan Bridges, Mark Walker Organizations: Governor, Republican, Cherokee Center, Gov, CNBC, Prosperity, CNN, North, North Carolina gubernatorial, National, Republican Governors Association, North Carolina Republican, Labor Locations: North Carolina, Asheville , North Carolina

☆ Hunting for a Private College Scholarship Can Be a Total Waste of Time
▼ + stars: | 2024-09-23 | by ( James S. Murphy | ) www.businessinsider.com time to read: +14 min

So she and Maggie had focused their hopes on getting a private scholarship. She considered paying $700 for an online class, heavily promoted on Facebook, that promised to show parents how to find college scholarships. Every year, hundreds of thousands of students like Maggie devote countless hours to the hunt for private scholarships to pay for college. AdvertisementWith the combination of institutional aid and private scholarship she received, Maggie managed to cut her original college bill from $15,000 to $8,000. The illness is treatable, but it's likely to cost the family $5,000 out of pocket — effectively wiping out the financial value of the private scholarship Maggie received.

Persons: Maggie Beam, Siobhan, Maggie, Siobhan —, —, Mark Kantrowitz, Kantrowitz, it's, Fastweb, Jeff Levy, you'd, Ed McMahon, Peter Thiel, Ron Lieber, Dawn Brady, Chris Reeves, Aisosa, Levy, Charlain Bailey, she'd, Maggie's Organizations: Winthrop University, Rotary, Facebook, Thiel Foundation, Silicon, Niche, Community Foundation, Lehigh University ., Education's, Winthrop, Schug Foundation, Equitable Foundation, Equitable Locations: Charlotte , North Carolina, Winthrop, Carolina, California, San Diego, Aisosa Ede, Osifo, Dallas, North Carolina

☆ Four worries that should keep market bulls awake at night
▼ + stars: | 2024-09-23 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Investors are still expressing signs of concern despite the stock market hitting all-time highs, according to Deutsche Bank. The S & P and the Dow weren't alone in their milestones. Gold prices also notched a new all-time high following the supersized Fed cut, crossing the $2,600 per ounce level on Friday. Allen also highlighted that traditional valuation metrics are "elevated" considering the "relentless" nature of the market in 2024. Year to date, the S & P has gained nearly 20%, and has risen in 24 of this year's 38 weeks, according to FactSet.

Persons: Dow, Henry Allen, Allen Organizations: Deutsche Bank, Federal Reserve, Dow Jones, Nasdaq, ECB Locations: Ukraine

☆ Side-by-side images from the James Webb and Hubble space telescopes show why NASA spent 25 years and $10 billion on the Webb
▼ + stars: | 2024-09-23 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +7 min

Read previewNASA's James Webb Space Telescope floored astronomers and spectators across the globe when it released its first full-color images. Even those preliminary snapshots revealed countless stars, galaxies, and fine details that hadn't been seen before. A side-by-side collage of the same area taken by Hubble and the James Webb Space Telescope in its very first image. In the JWST image, you can see galaxies in the background that were invisible to HubbleA few galaxies that are clearly visible in the JWST image, but not the Hubble image. The JWST image also revealed the stellar nurseries created as galaxies mergeThe JWST image shows a region of gas compressed between merging galaxies.

Persons: —, James Webb, Webb, Joseph DePasquale, JWST, hadn't, Eric Smith, Hubble, STScI Webb, Mark McCaughrean, McCaughrean, Amber Straughn, Jane Rigby, we've Organizations: Service, Business, NASA, ESA, CSA, Hubble, James Webb Space, Hubble Heritage, European Space Agency Locations: JWST

☆ Battery giant Northvolt to cut 25% of workforce in Sweden as part of a major cost-cutting drive
▼ + stars: | 2024-09-23 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Battery maker Northvolt on Monday announced plans to cut a total of 1,600 jobs in Sweden as part of a major cost-cutting drive. The strategic action requires Northvolt to reduce its global workforce by around 20% and a 25% reduction in Sweden, the firm said. Northvolt, which currently delivers batteries from its first gigafactory Northvolt Ett in Skellefteå, said in March that it had over 6,000 employees. The announced measures come as part of a broader strategic review and in response to what Northvolt described as "a challenging macroeconomic climate." Based in Stockholm, Sweden, Northvolt is one of Europe's most valuable privately-held tech firms that builds lithium-ion batteries for the electric vehicle industry.

Persons: Northvolt, Peter Carlsson, Carlsson, — CNBC's Ryan Browne Organizations: Office, Monday, Volkswagen, Volvo Locations: Northvolt, Sweden, Skellefteå, Stockholm

The best iPhone 16 Pro Max screen protectors offer durable protection and an installation tool for seamless application. For top options, see our guide to the best iPhone 16 Pro Max cases. AdvertisementWill an iPhone 15 Pro Max screen protector fit an iPhone 16 Pro Max? An iPhone 15 Pro Max screen protector will not fit the iPhone 16 Pro Max, and vice versa. To protect the previous model instead, see our guide to the best iPhone 15 Pro Max screen protectors.

Persons: Max Organizations: Business, Apple, Privacy Guard

☆ UniCredit boosts its stake in Commerzbank, applies to own up to 29.9% of the German bank
▼ + stars: | 2024-09-23 | by ( April Roach | ) www.cnbc.com time to read: +2 min

UniCredit announced on Monday it had increased its stake in German lender Commerzbank to around 21% and submitted a request to boost the holding to up to 29.9%. The Italian bank acquired the additional Commerzbank shares through financial instruments, it said in a Monday statement. Earlier this month, UniCredit announced it had taken a 9% stake in Commerzbank, confirming that half of this shareholding was acquired from the German government. However, as was the case for UniCredit, such potential requires action for it to be crystalized," the bank said on Monday. Commerzbank shares were down 0.4% by 11:50 a.m. London time, while UniCredit shares fell 2.3%.

Persons: UniCredit, Commerzbank, Berlin Organizations: Federal Locations: Frankfurt, Germany, Commerzbank, London

☆ Internal memo reveals new Amazon bonuses for selling flagship AI products
▼ + stars: | 2024-09-23 | by ( Eugene Kim | ) www.businessinsider.com time to read: +1 min

AWS offers its salespeople new incentives for selling AI products Q and Bedrock. AWS sales teams have specific performance targets for AI products. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Amazon Web Services recently put a new incentive program in place for its flagship AI products, Q and Bedrock, according to an internal memo obtained by Business Insider. In cloud computing and enterprise software, companies maintain massive sales teams that market to corporate customers and help them integrate technology offerings.

Persons: — Organizations: Microsoft, Google, Service, Web Services, Business

☆ Stocks making the biggest moves midday: Micron, Tesla, Ulta, Intel and more
▼ + stars: | 2024-09-23 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Micron Technology — Micron edged 2.7% higher after JPMorgan reiterated the stock as overweight ahead of the memory chipmaker's earnings, which are expected Wednesday after market close. Monday's gain put the stock on track for its biggest advance since Aug. 28, when it popped 9%. Ulta — The cosmetics stock lost more than 3% after a downgrade to hold from buy at TD Cowen. Biohaven — Shares surged 12% after the clinical-stage pharma company announced positive trial data for its drug treating spinocerebellar ataxia known as troriluzole. Intel — Shares of the struggling chipmaker climbed 2.4% after Bloomberg News reported on Sunday that Apollo Global Management proposed to make a multibillion-dollar investment in Intel.

Persons: Harlan Sur, General Motors, Bernstein, Cowen, troriluzole, Ciena, Jesse Pound, Alex Harring, Samantha Subin, Sean Conlon Organizations: Micron Technology, Micron, JPMorgan, Tesla, Barclays, U.S . Army, General, pharma, Intel —, Bloomberg, Apollo Global Management, Intel, CNBC, Qualcomm, Citi

☆ 40-year-old CEO shares the No. 1 red flag she sees in employees—avoiding it is ‘more important than ever’
▼ + stars: | 2024-09-23 | by ( Ashton Jackson | ) www.cnbc.com time to read: +1 min

That's the exact kind of anti-collaborative person who Sarah Paiji Yoo tries to steer clear from when hiring new employees. And I think that is a must-have for every team member that we bring on," Paiji Yoo, the CEO and co-founder of eco-friendly cleaning product startup Blueland, tells CNBC Make It. "Folks who understand that a different set of inputs, a lot of times, lead to a better outcome." But the primary goal is simple: bringing people together to solve problems and learn something new," Gardner added. They know something different that I don't, and I can learn a lot from them.'"

Persons: You've, who's, Sarah Paiji Yoo, Paiji Yoo, —, Heidi K, Gardner Organizations: CNBC, Harvard Law School

☆ Ukraine’s Zelensky tours Pennsylvania ammunition plant as he begins US visit to present ‘victory plan’ to defeat Russia
▼ + stars: | 2024-09-23 | by ( Michael Rios | Kathleen Magramo | ) edition.cnn.com time to read: +3 min

CNN —Ukrainian President Volodymyr Zelensky toured a Pennsylvania ammunition plant on Sunday as he began a key visit to the United States in which he is expected to present his blueprint to defeat Russia to President Joe Biden and other allies. “This fall will determine the future of this war,” Zelensky posted on X from his plane before landing in the US. “It is in places like this where you can truly feel that the democratic world can prevail,” he said. He will then travel to Washington for talks with Biden and Democratic presidential nominee, Vice President Kamala Harris. “I want to see what she thinks about this victory plan,” he said of Harris on Friday.

Persons: Volodymyr Zelensky, Joe Biden, Zelensky, Russia –, Biden, ” Zelensky, ”, Deonte Rowell, let’s, Kamala Harris, “, Harris, ” Harris, Donald Trump Organizations: CNN, Scranton Army, Plant, U.S . Army, AP, United Nations General Assembly, Democratic, Biden, NATO, Republican Locations: Pennsylvania, United States, Russia, Scranton, Biden’s, Ukraine, America, United Kingdom, New York, Europe, Washington

☆ I love being a middle manager. Amazon's decision to cut middle managers saddens me — this role is misunderstood.
▼ + stars: | 2024-09-23 | by ( Elle Hardy | ) www.businessinsider.com time to read: +5 min

I landed my current role in PR middle management through a Facebook mentoring groupThe CEO, Tiffany Joy Murchison, led a session I joined and asked the class what we wanted to discuss. In middle management, there's an adjustment phase where you adapt to established procedures. AdvertisementI think many middle managers feel undervalued because it's not a lane many want to be in. Amazon's recent announcement that they're cutting down on middle managers saddens me. Middle managers are crucial in bridging communication between executives and staff, ensuring operations run smoothly.

Persons: —, Michelle Busch, I've, Tiffany Joy Murchison, We'll, we're, Lauryn Haas Organizations: Service, Business, TJM, Media, lhaas Locations: Washington ,, Brooklyn , New York, New York

☆ U.S. billionaire Dan Friedkin agrees to buy EPL soccer club Everton
▼ + stars: | 2024-09-23 | by ( Matt Clinch | ) www.cnbc.com time to read: +2 min

Seamus Coleman of Everton gives the team instructions during the Premier League match between Everton FC and Burnley FC at Goodison Park on April 06, 2024 in Liverpool, England. LONDON — The investment group run by U.S. billionaire Dan Friedkin on Monday agreed to buy Everton F.C., potentially ending years of uncertainty for the struggling English Premier League soccer club. A spokesperson for The Friedkin Group, a privately held consortium of businesses with Chairman and CEO Dan Friedkin at the helm, said it was "pleased to have reached an agreement to become custodians of this iconic football club." Last season, it was docked points for breaching Premier League financial rules. Earlier this year, The Friedkin Group agreed a deal in principle to buy Everton but pulled out of talks when it failed to reach an agreement.

Persons: Seamus Coleman, Dan Friedkin, Friedkin, Farhad Moshiri ., Moshiri, —, John Textor Organizations: Everton, Premier League, Everton FC, Burnley FC, Goodison Park, Everton F.C, English Premier League soccer, Football Association, Authority, Bramley, Partners, Friedkin, Italian Serie, Roma, Forbes Locations: Liverpool, England, American, Italian

☆ Americans running out of unemployment benefits and part-time jobs at record levels point to a recession coming, economist says
▼ + stars: | 2024-09-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

The job market is flashing signs the US is still headed for a hard-landing, Danielle DiMartino Booth says. The forecaster pointed to workers rolling off unemployment benefits, while part-time jobs have soared. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The veteran forecaster and QI Research founder pointed to continued signs of weakness in the US job market, zooming in on a few key areas that are flashing signs of trouble. Booth said that more workers who once qualified for unemployment insurance are now rolling off of their benefits.

Persons: Danielle DiMartino Booth, —, Booth Organizations: Consumers, Service, QI Research, Workers, Bureau of Labor Statistics, Business

☆ U.S. economic outlook 'up in the air,' strategist says
▼ + stars: | 2024-09-23 | 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 EmailU.S. economic outlook 'up in the air,' strategist saysMehvish Ayub, head of investment strategies for the Middle East at State Street Global Advisors, says there's still a risk that "data turns very significantly" over the next couple of months.

Persons: Mehvish Ayub, there's Organizations: State Street Global Advisors

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