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☆ Analyst discusses a Trump presidency with JD Vance as running mate
▼ + stars: | 2024-07-16 | 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 presidency with JD Vance as running mate would mean much more aggressive China stance: AnalystEdward Mills, Washington policy analyst and managing director at Raymond James, says Sen. JD Vance is someone who has "very much embraced the 'make America great again' agenda of former President Trump."

Persons: JD Vance, Edward Mills, Raymond James, Sen, Trump Organizations: Email Trump Locations: China, Washington

☆ Temasek aims to invest up to $10 billion in India as China weighs
▼ + stars: | 2024-07-16 | by ( ) www.cnbc.com time to read: +1 min

Beautiful and colorful aerial view of Mumbai skyline during twilight seen from Currey Road, on Feb. 16, 2022 in Mumbai, India. India accounts for 7% of Temasek's global exposure which it wants to increase further, said Mohit Bhandari, the company's managing director for India investments. "We are bullish in India for the long term," Bhandari said in an interview at Temasek's Mumbai office. Temasek last week said that profits from investments in the United States and India were helping it cushion the impact of underperformance in China. Temasek also said that it is taking a cautious approach to China amid trade tensions.

Persons: Mohit Bhandari, Bhandari Organizations: Temasek Locations: Mumbai, India, Singapore, China, United States, Temasek

☆ From intern to partner: Goldman's global head of equity syndicate reflects on her days as a junior banker
▼ + stars: | 2024-07-16 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +9 min

Goldman's 2024 class began in early June, and this summer's cohort represents the most competitive and selective yet. And not just intern to intern, but even the VPs and associates and analysts on your deal team really included you and made you feel very much part of it. You're meeting all these new people, you're getting assignments you're super excited to work on, and you're also trying to show your value. If you slow down and check the work, you're inherently going to learn it better and be able to apply it better. He was in municipal banking, and I was on the credit syndicate team – we were both analysts on a deal team.

Persons: Elizabeth Reed, Goldman Sachs, Lizzie, —, Reed, Goldman, You've, it's, Emmalyse Brownstein, — that's, they're, I've, Obama Organizations: Service, Goldman Sachs ' New, University of Notre Dame, Business, NYU, Goldman, TXU Corp, Wall Locations: Goldman Sachs ', Goldman Sachs ' New York, New Jersey, New York City, New York

☆ Google is close to making its biggest acquisition ever
▼ + stars: | 2024-07-15 | by ( Matt Egan | Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN. A takeover of Wiz, which makes cybersecurity software for cloud computing, would represent a major bet by Google on cybersecurity, marking the tech giant’s biggest-ever acquisition. Discussions between Google and Wiz began after the startup raised $1 billion from venture capital investors earlier this year, the source said. Google Cloud is central to the company’s efforts to diversity revenue beyond its core search advertising business. Notable customers include BMW, Slack and Salesforce, and it works with major cloud companies including Amazon, Microsoft and Google.

Persons: Wiz, Dan Ives, Biden, Trump, Ives, — Assaf Rappaport, Ami Luttwak, Yinon Costica, Roy Reznik, Slack Organizations: New, New York CNN, Google, CNN, Wiz, Wall Street, Motorola, Microsoft, Wedbush, White, Federal Trade Commission, Big Tech, Israel Defense Forces, Fortune, BMW, Amazon Locations: New York, New York City

☆ Burberry CEO is out after company warns about its profit
▼ + stars: | 2024-07-15 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —British luxury brand Burberry is replacing its chief executive following another disappointing quarter in which sales plunged more than 20%. Jonathan Akeroyd is leaving Burberry with “immediate effect,” the company said in its earnings release Monday, and replacing him with Joshua Schulman, a luxury wear veteran that has held CEO roles at Coach and Michael Kors. A global slowdown on spending on luxury goods has also forced Burberry to issue a profit warning, and it scrapped its dividend. “There is a sense that Burberry has been on the back foot and that Jonathan Akeroyd’s revitalization plans have largely failed to stop the rot,” Saunders told CNN. “A course correction has been needed for some time and Burberry is hoping a new CEO can deliver this.”

Persons: Jonathan Akeroyd, Joshua Schulman, Michael Kors, Akeroyd, Burberry, Gerry Murphy, ” Murphy, “, Neil Saunders, Jonathan Akeroyd’s, ” Saunders, ” Organizations: New, New York CNN, Burberry, London Stock Exchange, GlobalData, CNN Locations: New York

☆ Trump's base 'very much consolidated,' says former U.S. ambassador
▼ + stars: | 2024-07-15 | 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's base 'very much consolidated' even without attempted assassination: Former U.S. ambassadorDavid Adelman, managing director at KraneShares and former U.S. ambassador to Singapore, says "consolidation has not been a problem for the Trump campaign, nor for the Republican Party."

Persons: David Adelman, Trump Organizations: Republican Party Locations: U.S, Singapore

For Nvidia CEO Jensen Huang, being almost the only game in town for AI chips isn't enough. AdvertisementThe company also runs Nvidia Inception, an incubator and venture network that counts more than 20,000 early-stage companies among its membership. "I think it's crazy," said another founder whose company received investment from NVentures, who spoke on condition of anonymity. Any company trying to do anything major in AI has spent the past two years buying them by the truckload. AdvertisementHe says he's received personal calls from Huang in which the Nvidia CEO weighs in on company decisions or expresses disapproval of his public statements.

Persons: Jensen Huang, Chris Brown, Brown, Huang, Vishal Bhagwati, Sid Siddeek, Jensen, Umesh, Padval, Uber, Nvidia's, Lisa Su, he's, there's Organizations: Service, Nvidia, Business, Corporate, Cohere's, Google, AMD Locations: Silicon Valley, New York, NVentures, OpenAI

☆ How Boeing defrauded the United States and escaped with a slap on the wrist
▼ + stars: | 2024-07-13 | by ( Chris Isidore | Pete Muntean | ) edition.cnn.com time to read: +10 min

Boeing agreed to plead guilty to a charge that it defrauded the Federal Aviation Administration, hiding crucial information about a design flaw on the 737 Max during its original certification process. Boeing attorneys had it as part of their mission to make sure that its executives did not face any criminal charges, Lindquist said. A Boeing spokesman said the company had no comment about the anticipated guilty plea or the case beyond a brief statement confirming the agreement. Another way to make executives payEven if there are no criminal charges brought against executives, they can face significant penalties, Arlen said. Why Boeing will keep its government contractsThe most serious penalty that Boeing could face is by far the least likely – it could be barred from federal government contracts due to its guilty plea.

Persons: Critics, ”, Peter Goeltz, Goeltz, “ I’m, Moody’s, Paul Cassell, Jemal Countess, “, Mark Lindquist, Lindquist, FAA ”, Mark Forkner, ” Lindquist, there’s, that’s, Arlen, Dave Calhoun, Dennis Muilenburg, Calhoun, Max, Patrick Ryder, Robert Clifford, – CNN’s Natasha Bertrand Organizations: New, New York CNN, Boeing, Federal Aviation Administration, National Transportation Safety Board, CNN, ”, Alaska Airlines, Justice Department, FAA, Volkswagen, University of Utah, Ethiopian Airlines, Max, Alaska Air, DOJ, “, Department of Defense, Pentagon, Air Force, Department of Justice, they’re Boeing Locations: New York, Alaska, Indonesia

☆ Watch CNBC's full interview with Ben Reitzes and Rohit Kulkarni
▼ + stars: | 2024-07-12 | 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 EmailWatch CNBC's full interview with Ben Reitzes and Rohit KulkarniBen Reitzes, Melius Research head of technology research, and Rohit Kulkarni, Roth MKM managing director, join 'Closing Bell Overtime' to talk the state of the AI trade as the market rally continues.

Persons: Ben Reitzes, Rohit Kulkarni Ben Reitzes, Rohit Kulkarni, Roth

☆ Chinese EV makers currently as good or better than Tesla, strategist says
▼ + stars: | 2024-07-12 | 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 EmailChinese EV makers currently as good or better than Tesla, strategist saysShaun Rein, managing director of the China Market Research Group, says some Chinese EV makers are currently "as good, if not better" than Tesla as the U.S. firm hasn't changed its model in six or seven years.

Persons: Shaun Rein, Tesla, hasn't Organizations: China Market Research Locations: China, U.S

☆ Volatile yen keeps markets on edge as intervention risks swirl
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: +4 min

A sheet of newly-designed Japanese 10,000 yen banknotes at the National Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 28, 2023. The Japanese currency swung between gains and losses in early trading before trading slightly weaker. It spiked nearly 3% to as high as 157.40 immediately after the consumer inflation report on Thursday. "Currency interventions should certainty be rare in a floating rate market, but we'll need to respond appropriately to excessive volatility or disorderly moves," Kanda said. Tokyo intervened at the end of April and in early May, spending roughly 9.8 trillion yen ($61.55 billion) to support the currency.

Persons: Masato Kanda, Kanda, It's, Siong Sim, Charu Chanana, Matt Simpson, Menon, Donald Trump, Sterling Organizations: National Printing Bureau, Asahi, Nikkei, Bank of Singapore, U.S, CPI, Saxo, Federal Reserve, City, Traders, Presidential, Trump Locations: National Printing Bureau Tokyo, Tokyo, Japan, U.S

☆ IMF says emerging market capital inflows recover to 2018 levels
▼ + stars: | 2024-07-12 | by ( David Lawder | ) www.reuters.com time to read: +3 min

The IMF said in the report that emerging markets have seen a decline in the more volatile net portfolio inflows, but net inflows of foreign direct investment (FDI) has been more stable. At the same time, the report said that China saw net capital outflows over the 2022-2023 period, including net negative FDI inflows. Overall, global gross capital inflows declined to 4.4% of global GDP, or $4.2 trillion, in the 2022-2023 period, from 5.8 percent of global GDP, or $4.5 trillion, in 2017-2019. But the U.S. benefited strongly from the shifts, accounting for 41% of global gross inflows during the 2022-2023 period, nearly double its 23% share in 2017-2019. The U.S. share of global gross outflows also increased, to 21% from 14% during the same periods.

Persons: Christine Lagarde, Nicolas Dujovne, Yuri Gripas, David Lawder, Franklin Paul, Alistair Bell Organizations: Monetary Fund, Argentine, REUTERS, China, IMF, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S

☆ JPMorgan, Wells Fargo, and Citi kick off earnings with Q2 beats
▼ + stars: | 2024-07-12 | 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 EmailJPMorgan, Wells Fargo, and Citi kick off earnings with Q2 beatsErika Najarian, UBS managing director, joins 'Squawk on the Street' to discuss second-quarter earnings reports from JPMorgan, Wells Fargo, and Citi.

Persons: Wells, Erika Najarian Organizations: JPMorgan, Citi, UBS Locations: Wells Fargo

☆ Amazon is playing catch up when it comes to AI, says Roth MKM's Kulkarni
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon is playing catch up when it comes to AI, says Roth MKM's KulkarniBen Reitzes, Melius Research head of technology research, and Rohit Kulkarni, Roth MKM managing director, join 'Closing Bell Overtime' to talk the state of the AI trade as the market rally continues.

Persons: Roth, Kulkarni Ben Reitzes, Rohit Kulkarni

☆ Consumers are getting 'really choosy' as cracks emerge. Here's what that means for investors
▼ + stars: | 2024-07-12 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Pressures faced by lower-income consumers have been smoothed over by robust spending from the middle- and higher-income cohort. 'A shift in priorities' Even with cracks emerging in the consumer, many investors anticipate a soft landing for the economy. "They are spending, but they're being more particular than they were before in terms of what they're spending on," she added. "As more consumers shift their meal preferences to eating at home as opposed to eating out, that could provide a catalyst to lift these stocks valuations," he wrote. Sekera also noted travel as one area where consumers are continuing to spend, even as they pull back on other purchases.

Persons: Bill Merz, They're, Lindsay Rosner, there's, Dave Sekera, Morningstar, Kraft Heinz, Kellanova, Sekera, Goldman Sachs, Rosner Organizations: PepsiCo, U.S, Bank Asset Management, Goldman Sachs Asset Management, HSBC, Viking Holdings, Worldwide Holdings, Marriott International, Walmart, Target, Kraft Locations: U.S, delinquencies

☆ CNBC Daily Open: S&P retreats, yen surges, Tesla sinks
▼ + stars: | 2024-07-12 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This 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. The declines follow the lowest consumer price index in over three years. The yield on the 10-year Treasury fell, while U.S. oil prices rose on hopes of a rate cut. The Fed is "one step closer to a September rate cut," said Chris Larkin, managing director of trading and investing at E-Trade.

Persons: Jesse Pound, Chris Larkin, Kit Juckes, Elon Musk, Jamie Dimon's Organizations: CNBC, Nasdaq, Big Tech, Nvidia, Meta, Dow Jones, Treasury, U.S, Societe Generale, Delta Air Lines, Paris, Bloomberg, JPMorgan Locations: U.S

☆ Big banks under pressure: Here's what you need to know
▼ + stars: | 2024-07-12 | 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 EmailBig banks under pressure: Here's what you need to knowDavid Konrad, KBW managing director, joins 'Power Lunch' to discuss his takeaways from big bank earnings.

Persons: David Konrad, KBW

☆ Biden NATO press conference 'passable' compared with debate, political advocacy group says
▼ + stars: | 2024-07-12 | 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 EmailBiden NATO press conference 'passable' compared with debate, political advocacy group saysRachael Dean Wilson, managing director at Alliance for Securing Democracy, nevertheless says U.S. President Joe Biden's performance is "not enough to quell concerns," from Democrats about his capacity to serve another term.

Persons: Rachael Dean Wilson, Joe Biden's Organizations: NATO, Alliance for Securing Democracy

☆ AI will double data center capacity in the next few years, CapitaLand Investment says
▼ + stars: | 2024-07-11 | 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 EmailAI will double data center capacity in the next few years, CapitaLand Investment saysMichelle Lee, managing director of private funds (data center) at CapitaLand Investment, says power sourcing will be "as important, if not more important, than land sourcing."

Persons: Michelle Lee Organizations: CapitaLand, CapitaLand Investment

☆ This utility is one of the best performing stocks in the market with room for more AI demand upside
▼ + stars: | 2024-07-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

A Texas-based power company that only joined the S & P 500 two months ago is the third-best performing stock in the index this year, boosted by the same demand for everything connected to artificial intelligence. Fast forward to today and Vistra stock has soared 139% this year, adding $18.5 billion to its market cap, which now totals $32 billion, according to FactSet data. "We are always surprised when you see a move the size that we've seen, but I think it's been a long time building," Jim Burke, CEO of Vistra, told CNBC's "Closing Bell" Tuesday. Vistra also owns nuclear power plants, one of the most in-demand power sources in the 2024 market because reactors burn no fossil fuel and emit no greenhouse gases . Guggenheim has a buy rating on Vistra stock with a price target of $133, implying 44% upside from Wednesday's close of $92.31.

Persons: Jim Burke, CNBC's, we've, Burke, Vistra, Shahriar Pourreza, Pourreza, they'll, Guggenheim, Vistra hasn't, Mark Nelson, Joseph Dominguez, Constellation's, aren't Organizations: Vistra Corp, Texas Utilities Co, Dynegy Inc, Computer, Nvidia, Nuclear, Guggenheim Securities, Energy, Guggenheim, CNBC, Amazon Web Services, Talen Energy, Constellation Energy, Wall Street, Radiant Energy, Constellation Locations: Texas, Irving , Texas, Dallas, Ohio, Pennsylvania, Energy Harbor, U.S, East Coast

☆ Oppenheimer's best small and mid-cap stock ideas to play the market broadening
▼ + stars: | 2024-07-11 | 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 EmailOppenheimer's best small and mid-cap stock ideas to play the market broadeningJed Kelly, Managing Director of Equity Research at Oppenheimer, discusses his bull thesis for Genius Sports.

Persons: Jed Kelly Organizations: Equity Research, Oppenheimer, Genius Sports

☆ $20 billion Balyasny trims its top Asia stock-picker's book so she can focus on building the hedge fund in the region
▼ + stars: | 2024-07-11 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Read previewBalyasny Asset Management has cut back the portfolio of its Asia equities head, but not because of poor performance. This story is available exclusively to Business Insider subscribers. Related storiesBalyasny, the $20 billion multistrategy firm based in Chicago, parted ways with its global equities head, Jeff Runnfeldt, last October. AdvertisementBalyasny, the founder, has been running the equities unit since Runnfeldt's departure, adding talent — such as Point72's Peter Goodwin — and reviewing existing books. The firm has made 5.5% through the first half of the year, Business Insider recently reported, trailing peers like Citadel, Point72, and Millennium.

Persons: —, Archana Parekh, Dmitry Balyasny, Parekh, Jeff Runnfeldt, Runnfeldt, Peter Goodwin —, Andrew O'Connor, Weiss, David Lohman, Marco Minoli, Anil Gondi, Balyasny, Stephen Schurr, She's, Will Brant, Robert Tau Organizations: Service, Management, Balyasny, Business, Fortress Investment, Citadel, Walleye, Bloomberg Locations: Asia, Chicago, Schonfeld, LMR, — Singapore, Hong Kong, Tokyo, Balyasny's Hong Kong, Point72

☆ These bank stocks yield more than 5% — and they are ‘poised to thrive,’ Piper Sandler says
▼ + stars: | 2024-07-11 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Regional bank stocks are having an underwhelming year, but investors who are on the hunt for good dividend payers might find a few gems, according to Piper Sandler. "Given the recent pullback in bank stock prices, we are finding lots of regional and community bank stocks that have eye-catching dividend yields," wrote Mark Fitzgibbon, managing director at Piper Sandler, in a Thursday report. There is more to picking solid dividend stocks than just going by the yield. Piper Sandler further whittled down the list by eliminating companies that had cut their dividends over the past decade. Piper Sandler called out Heritage Commerce of San Jose, California, as a bank worth snapping up.

Persons: Piper Sandler, Mark Fitzgibbon, Fitzgibbon, Andrew Liesch, Matthew Clark, Clark Organizations: Regional Banking, Brookline Bancorp, Heritage Commerce, Pacific Premier Bancorp Locations: Boston, Brookline, San Jose , California, Irvine , California

☆ Citi has 12,000 employees dedicated to pleasing regulators and fixing the bank's broken tech. It is going terribly.
▼ + stars: | 2024-07-11 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In hopes of regaining compliance, CEO Jane Fraser bulked up a firm-wide initiative to overhaul the bank's technology. The head count for the so-called "Transformation" program has soared to 12,000 from some 3,000 since 2021, according to earnings reports. Citi's technology shortcomings are old news, according to Wells Fargo analyst Mike Mayo. Kathleen Martin, former interim data transformation chair, is suing the bank and Anand Selvakesari, the bank's chief operations officer who oversees Transformation.

Persons: —, Jane Fraser bulked, Wells, Mike Mayo, Mayo, Fraser, We're, We've, Jane Fraser, SAUL LOEB, Janney Montgomery Scott, Timothy Coffey, Kathleen Martin, Anand Selvakesari, Martin, Selva, Hayley Cuccinello Organizations: Service, Citigroup, Citi, Business, Federal Reserve Board, Revlon, OCC, Citi —, Federal Reserve, Reuters Locations: Wells Fargo, United States, Selva, hcuccinello@businessinsider.com

☆ Election deepfakes could undermine institutional credibility, Moody's warns
▼ + stars: | 2024-07-10 | by ( Michelle Castillo | ) www.cnbc.com time to read: +7 min

A new report from Moody's on Wednesday warns that generative AI and deepfakes are among the election integrity issues that could present a risk to U.S. institutional credibility. In a letter to Rosenworcel, it encouraged the FCC to delay its decision until after the elections because its changes would not be mandatory across digital political ads. Some social media platforms have already self-adopted some sort of AI disclosure ahead of regulations. Google requires all political ads with modified content that "inauthentically depicts real or realistic-looking people or events" to have disclosures, but doesn't require AI disclosures on all political ads. Thirteen states have laws on election interference and deepfakes, eight of which were enacted since January.

Persons: Gregory Sobel, William Foster, Jessica Rosenworcel, Dan Ives, Ives, Tony Adams, Moody's, Abhi Srivastava, Secureworks, Adams, they've Organizations: Federal Communications, FCC, Federal, Commission, Wedbush Securities, Meta, Google, Facebook, Unit, United Nations Locations: Moody's, New Hampshire

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