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☆ Jamie Dimon warns 'all these very powerful forces' will impact U.S. economy in 2024 and 2025
▼ + stars: | 2024-01-17 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17yth, 2024. "You have all these very powerful forces that are going to be affecting us in '24 and '25," Dimon told Andrew Ross Sorkin Wednesday in a CNBC interview at the World Economic Forum in Davos. "Ukraine, the terrorist activity in Israel [and] the Red Sea, quantitative tightening, which I still question if we understand exactly how that works," Dimon said. Quantitative tightening refers to moves by the Federal Reserve to reduce its balance sheet and rein in previous efforts including bond-purchasing programs. In Dimon's view, the relatively buoyant stock market of recent months has lulled investors on the potential risks ahead.

Persons: Jamie Dimon, JPMorgan, 17yth, JPMorgan Chase, Dimon, Andrew Ross Sorkin, dory, we've Organizations: JPMorgan Chase, JPMorgan, CNBC, Economic, Federal Reserve Locations: Davos, Switzerland, U.S, Ukraine, Israel

☆ Shadow bank Zhongzhi files for bankruptcy as China's debt and property crisis deepens
▼ + stars: | 2024-01-08 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

Shadow banks in China operate by pooling household and corporate savings to offer loans to invest in real estate, stocks, bonds, and commodities. Companies such as Zhongzhi have often financed many large Chinese property developers. Hong Kong listed shares of property firms including Logan Group, China Vanke, Sunac and Longfor Group dropped between 2% and 3.6%. More pain for shadow banks? China's government has in the last few years tried to limit the rapid growth of non-bank debt issued by shadow banks.

Persons: Zhongzhi, Commerzbank, Zerlina Zeng, CNBC's Organizations: Zhongzhi Enterprise, Reuters, Beijing, CSI, Logan Group, Longfor, CreditSights Locations: HANGZHOU, CHINA, Hangzhou City, Zhejiang Province, China, Hong Kong

☆ Europe tech investment set to reach $45 billion in 2023, Atomico says
▼ + stars: | 2023-11-28 | 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 EmailEurope tech investment set to reach $45 billion in 2023, Atomico saysTom Wehmeier, head of data insights at Atomico, discusses the company's "State of European Tech" report on CNBC's Squawk Box Europe.

Persons: Atomico, Tom Wehmeier Organizations: European Tech

☆ Despite strong economy, Americans are spending less: 'I feel like I'm always holding my breath'
▼ + stars: | 2023-11-22 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Still, consumers don't feel like we're in a booming economy. "I feel like I'm always holding my breath a little bit waiting to see what's going to happen," Olivia Thomas, an education professional in New Jersey, tells CNBC Make It. As people like Thomas take a look at their personal situations and the broader economy, some are making adjustments. Consumer spending has begun to taper off, according to data from the new CNBC and National Retail Federation retail monitor. That, along with a number of increasingly precarious geopolitical situations and continued tension within domestic politics, has consumers wary of the economy.

Persons: Olivia Thomas, Thomas, Janet Yellen, CNBC's, Peter Hughes, haven't, Hughes Organizations: CNBC, National Retail Federation, Evolve Locations: New Jersey, Plenty, Federal, New York, California

☆ Yellen says high food and rent prices key factors in voters' negative economic outlook
▼ + stars: | 2023-11-20 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +2 min

WASHINGTON — Treasury Secretary Janet Yellen pointed to the consistently higher prices that Americans pay for food and rent today, compared with pre-pandemic levels, as a major factor driving voters' negative outlook on the economy. "Although prices in general are rising less quickly, Americans still see increases in some important prices, including food, from where we were prior to the pandemic. As overall inflation rates have come down over the past year, food prices have consistently outpaced baseline inflation, according to the Bureau of Labor Statistics. There are lots of reasons for this, ranging from the war in Ukraine's impact on grain prices to restaurants charging higher prices for menu items. But Americans do notice higher prices from what they used to be accustomed to," she added.

Persons: Janet Yellen, Yellen, Joe Biden, Biden, Elizabeth Crofoot, CNBC's Jeff Cox, Donald Trump Organizations: Bureau of Labor Statistics, NBC Locations: WASHINGTON

☆ X staff almost asked police to carry out a wellness check on Elon Musk after he once locked himself in his office, author says
▼ + stars: | 2023-11-08 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Staff at X, formerly Twitter, considered calling the police over fears Elon Musk might harm himself. Ben Mezrich, author of the book "Breaking Twitter," made the remarks to CNBC's Squawk Box. AdvertisementAdvertisementStaff at X, formerly Twitter, once considered calling the San Francisco police after an upset Elon Musk locked himself in his office, author Ben Mezrich said. AdvertisementAdvertisement"The Elon before Twitter and the Elon after Twitter are two different Elons," he said. "Elon didn't just break Twitter, Twitter broke Elon Musk."

Persons: Elon, Ben Mezrich, CNBC's, Mezrich, X, —, Elon Musk, Dave Chappelle, Elon didn't, Twitter, Musk Organizations: Twitter, Service, San Francisco, Elon Locations: San Francisco police

☆ Volvo Cars CEO strikes cautious tone on solid-state battery technology
▼ + stars: | 2023-10-27 | by ( Anmar Frangoul | ) www.cnbc.com time to read: 1 min

The CEO of Volvo Cars is bullish about the long-term potential of electric motors, but appears more cautious on solid-state batteries — technology that's generated much hype around its potential to transform the performance of EVs. Speaking to CNBC's Squawk Box Europe on Thursday morning, Jim Rowan said electric motors were seeing "massive improvements." However, on solid-state batteries he said: "My personal opinion is that solid-state is still some years off, but of course we're involved in the research and development around that." "But I think there's many more incremental benefits that we're going to see with the current electrical propulsion systems, that [are] … just going to continue to drive performance," Rowan added.

Persons: Jim Rowan, Rowan Organizations: Volvo

☆ Strong GDP growth isn't a sign the US has escaped a recession, and interest rates are a big headwind to economic activity, top economist Mohamed El-Erian says
▼ + stars: | 2023-10-26 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

The strong GDP report isn't a sign the US has dodged a recession, Mohamed El-Erian said. High interest rates still pose a big threat to households, business, and the US government. AdvertisementAdvertisementWhile the GDP numbers underscore US "exceptionalism," El-Erian said, high interest rates are impacting all corners of the economy, and that's something to watch out for. "Secondly, what's been happening in the interest rate market is really problematic. Expecting interest rates to remain higher for the foreseeable future, the bond market has witnessed a historic sell-off in recent months.

Persons: Mohamed El, Erian, —, it's, I've Organizations: Service, Fed, Treasury

☆ Cathie Wood says Ark Invest avoided Arm's blockbuster IPO because valuation was on 'high side'
▼ + stars: | 2023-09-22 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

Arm was the biggest IPO in the US since late 2021 when it made its market debut last week. But Ark Invest's Cathie Wood sat out the chip designer's float. "Arm came out, we think, from a valuation point of view on the high side," she told CNBC. The Ark Invest CEO chose not to participate in Arm's $55 billion float because she thought it was overvalued compared to its competitors. AdvertisementAdvertisementArm's IPO was the biggest stock market debut since 2021 after a prolonged slump in listings over the past 18 months.

Persons: Wood, CNBC's Organizations: CNBC, Service, Ark Locations: Wall, Silicon

☆ Italy's possible withdrawal from China's Belt and Road program could pave the way for future exits
▼ + stars: | 2023-09-14 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Workers produce large building materials and equipment for export to countries along the Belt and Road. Hai 'an city, Jiangsu Province, China, June 15, 2020. Italy's reported withdrawal plan may set a precedence for a constructive exit from China's global trade and infrastructure initiative, setting the stage for future exits. Italy remains the only Group of 7 industrialized countries that is a signatory of Beijing's signature Belt and Road Initiative, a centerpiece of President Xi Jinping's foreign policy program that was launched a decade ago. At a time of shifting geopolitical alignments that's fragmenting the world's economy, Rome is coming under pressure to recast its relationship with Beijing to placate its western allies as Italy assumes the rotating presidency of the Group of 7 developed economies in 2024.

Persons: Italy's, Xi, Giulio Pugliese, CNBC's Organizations: Initiative, Oxford University's School of Global, Area Studies Locations: Jiangsu Province, China, Italy, Rome, Beijing, Washington

☆ China's economic model is 'washed up on the beach' and it's not going to bounce back, veteran investor says
▼ + stars: | 2023-08-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Veteran investor David Roche told CNBC that China's economic model is "washed up on the beach." He doesn't anticipate it to bounce back as it deals with deflation, slowing growth, and other economic snags. He noted that China's economy has a "huge number of legacy holes in it." Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The troubled property market helps explain China's weak second-quarter GDP, which came in below expectations at 6.3%.

Persons: David Roche, it's, " Roche, CNBC's, they're, Roche Organizations: CNBC, Service, Independent, National Bureau of Statistics, People's Bank of, Country Garden Holdings Locations: Wall, Silicon, China, People's Bank of China

However, according to Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, these are all reasons to be a "little cautious" following the busiest week for earnings. All reasons to get a little cautious on the market," Slimmon told CNBC's Squawk Box Asia Thursday. Microsoft and Alphabet kicked off earnings season last week for the mega-caps, while Apple and Amazon are set to report this week. "I am not negative on the mega-cap tech stocks," Slimmon said, acknowledging Microsoft's strong results . Slimmon pointed out that the broadening of investors' interests is also likely at play, adding further selling pressure to Big Tech stocks.

Persons: Andrew Slimmon, Slimmon, CNBC's, MSFT, there's, Slimmon's isn't, Janet Yellen, Morgan Stanley, steelmaker Organizations: Nasdaq, U.S . Federal, Morgan Stanley Investment Management, Microsoft, Apple, Big Tech, Dow Jones, United, Treasury, Corp, JPMorgan, Ameriprise Locations: China, U.S

☆ The 'lazy girl jobs' trend is being fueled by 20-somethings who haven't made hard decisions or done hard things, says an NYU business professor
▼ + stars: | 2023-07-28 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +4 min

NYU professor Suzy Welch told CNBC that a desire to avoid anxiety was behind the viral "lazy girl jobs" trend. The "lazy girl jobs" trend has gone viral on TikTok, with videos under the #lazygirljobs hashtag racking up more than 17.9 million views since May. TikToker Gabrielle Judge, who popularized the trend, urged her followers to seek out "lazy girl jobs." However, TikTok users — including Judge — have begun warning users to stop sharing their lazy girl jobs online to avoid becoming "socially outcasted," Insider previously reported. Welch's remarks are the latest in the debate over work-life balance stirred up by the lazy girl jobs trend.

Persons: Suzy Welch, somethings, TikTokers, Welch, Jennifer Sotsky, Sotsky, TikToker Gabrielle Judge, Judge, Gabrielle 👸🏻 @ Organizations: CNBC, Service, NYU Stern School of Business Locations: Wall, Silicon

☆ Well, this is weird: Photos show Tesla's Cybertruck is driving around disguised as a Ford F-150
▼ + stars: | 2023-07-26 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Tesla appears to be driving a Cybertruck disguised as an F-150, according to unverified photos. Elon Musk's biographer said Musk was inspired to build Cybertruck because Ford trucks are "boring." New images of Tesla's Cybertruck appear to show the carmaker has disguised one of its models as Ford's F-150 pickup truck. Up until recently, Ford has been one of few automakers to produce an EV pickup truck. Last year, Ford said it delivered over 13,000 electric F-150 trucks as the company worked to ramp up production and fulfill about 200,000 reservations.

Persons: Tesla, Sandy Munro, Elon Musk's, Musk, Munro, Brian Sullivan, Buddy, Sullivan, Dodge, Insider's Tim Levin, Elon Musk, Musk's, Walter Isaacson, CNBC's, Jim Farley, CNBC's Jim Cramer, Ford, Rivian Organizations: Auto, Ford, YouTube, YouTube CNBC, EV Locations: Palo Alto, Silicon

☆ The Cybertrucks that never came to be: This newly shared photo of Elon Musk shows early, more curvy designs for Tesla's truck in the background
▼ + stars: | 2023-07-19 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Walter Isaacson shared a photo that provides a rare peek at Tesla's early Cybertruck designs. Walter Isaacson shared a photo that appeared to have some previously unseen Cybertruck details in the background. Isaacson shared a photo with some early designs ideas for the Cybertruck in the background. Even a scaled back early design of the Cybertruck looks out of place next to a Ford pickup truck. Walter Isaacson on TwitterOther pictures on the board appear to be more reminiscent of Tesla's current design for the electric pickup truck.

Persons: Walter Isaacson, Tesla, Elon Musk's, Tesla's Cybertruck, Franz von Holzhausen, Elon Musk, Isaacson, CNBC's, Musk, James Bond's Lotus, Ridley Scott's, Saxon Organizations: Twitter, Silverado, DeLorean Locations: Ford, Texas

☆ Elon Musk decided to create the Cybertruck because he thought Ford's trucks were 'boring,' biographer says
▼ + stars: | 2023-07-18 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Elon Musk decided to green light the Cybertruck because Ford trucks were "boring," Walter Isaacson said. Musk tweeted on Monday that Ford's new EV truck was a "good vehicle, just somewhat expensive." Elon Musk apparently isn't a fan of Ford's traditional pickup trucks and his distaste for the vehicles spawned the Cybertruck, according to the billionaire's biographer, Walter Isaacson. "The use of stainless steel opened up new possibilities for the look of the truck," Isaacson writes. The EV pickup truck startup Rivian also has a jump on the market.

Persons: Elon Musk, Walter Isaacson, Musk, CNBC's, Tesla, He's, Franz von Holzhausen, Isaacson, We're, —, Jim Farley, CNBC's Jim Cramer, Farley, Ford, Rivian Organizations: Ford, Twitter, EV Locations: Ford, Texas, Silicon, America

☆ Elon Musk's stress-tests: The Tesla CEO has an approach for picking leaders and sussing out anyone 'bullshitting' him, biographer says
▼ + stars: | 2023-07-18 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Walter Isaacson said Elon Musk uses multiple tactics when it comes to selecting leaders. He also likes to use skip-level meetings to chat with workers lower on the corporate ladder, Isaacson said. Elon Musk has a special intuition or "neural network" when it comes to picking leaders at his companies, the billionaire's biographer Walter Isaacson said. The biographer said Musk is likely to use skip-level meetings during big projects or ahead of major company events, like a SpaceX Starship test. Musk and spokespeople for SpaceX and Tesla did not respond to a request for comment.

Persons: Walter Isaacson, Elon Musk, Isaacson, Musk, Zilis —, —, Linda Yaccarino, hasn't, it's, CNBC's, he's, Tesla Organizations: Morning, SpaceX, Twitter, Tesla

☆ Money isn't Elon Musk's number 1 motivator, says biographer who trailed him for 3 years
▼ + stars: | 2023-07-18 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Walter Isaacson said on CNBC's Squawk Box that Musk's biggest motivator doesn't appear to be money. Musk is the world's richest man with a $254 billion fortune, per Bloomberg's Billionaire Index. For the world's richest person, Elon Musk is not all about the money. That's according to Walter Isaacson, the biographer who spent three years trailing Musk for a book releasing in September. The biographer has also previously made references to Musk's "demon mode" — describing him as industrious but "dark" and "with a real lack of empathy."

Persons: Walter Isaacson, Elon Musk, Isaacson, wouldn't, Musk, Jekyll, Hyde, Simon, Simon & Schuster, Sarah Jackson, Insider's Joseph Wilkins Organizations: Twitter, CNBC, Simon &, Bloomberg, SpaceX

☆ Elon Musk doesn't have a natural feel for empathy or emotions, says his biographer who's followed him for three years.
▼ + stars: | 2023-07-17 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

Walter Isaacson commended Elon Musk's engineering abilities, but suggested he lacks empathy. Isaacson made the comments on CNBC's Squawk Box, discussing his upcoming biography of Musk. Walter Isaacson, whose upcoming biography about Elon Musk is expected in September, said one of his takeaways from three years of observing the voluble executive is that he may lack empathy. He repeated the idea on CNBC's Squawk Box. In the segment, Isaacson also addressed recent headlines about Musk, including a purported cage match with Meta CEO Mark Zuckerberg.

Persons: Walter Isaacson, Elon, Isaacson, Elon Musk, Grimes, Musk's, Mark Zuckerberg, Kali Hays, Musk, Musk's Tesla Organizations: Twitter, Meta, Autism, for Disease Control, SpaceX

☆ Big Tech fund manager reveals how to trade expensive valuations — and the stocks to buy
▼ + stars: | 2023-06-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Investors should focus on trading momentum rather than worry too much about lofty valuations in Big Tech stocks, according to chief investment officer Patrick Armstrong. "I've kept the mega-cap tech stocks that have really been the driver of returns for my portfolio and for the market," Armstrong told CNBC's Squawk Box Europe Monday. Yet Big Tech valuations have pushed the index's forward average price-to-earings ratio to 21 times, its highest level since 2004, barring a brief period in 2018 and 2021, according to FactSet data. Despite his discomfort about these steep valuations, Armstrong said he's not selling yet for two reasons. Armstrong added that if the economy slips into a recession, the recent tech rally could become a period of stagnation, with Big Tech stocks treading water as they attempt to grow into their lofty valuations.

Persons: Patrick Armstrong, Armstrong, I've, CNBC's, It's, he's, you've Organizations: Global Equity Strategy, Big Tech, Tech, Microsoft, Apple, Adobe, Investors Locations: Big Tech

☆ Vienna is the world's most livable city — again. Here are the other top spots
▼ + stars: | 2023-06-22 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +3 min

Austria's Vienna has come up on top again as the best city to live in globally, according to a report by the Economist Intelligence Unit (EIU). Austria's Vienna has come up top again as the best city to live in globally, according to a report by the Economist Intelligence Unit (EIU). Copenhagen also retains its position as the second most livable city in the world, while Australian cities Sydney and Melbourne broke into the top five. Hong Kong also moved 13 places up the rank to 61st most livable city in the world. Decline in stability scoresWhile health-care, education, infrastructure, culture and entertainment scores saw improvements in the past year, stability saw a "marginal decline," said the EIU.

Persons: New Zealand's Wellington, CNBC's, EIU Organizations: Austria's, Economist Intelligence Unit, Melbourne, Germany's Locations: Austria's Vienna, Copenhagen, Sydney, Vienna, Austria, Denmark, Melbourne, Australia, Vancouver, Canada, Zurich, Switzerland, Calgary, Geneva, Toronto, Osaka, Japan, Auckland, New Zealand, Asia, Pacific, New Zealand's, Hong Kong, Western Europe, Germany's Frankfurt

☆ UBS strategist: There’s too much risk in Big Tech right now — here's where to invest instead
▼ + stars: | 2023-06-09 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

He explained that while stocks on the Nasdaq Composite require significant growth to deliver returns, European banks can offer similar returns at lower risk. One of the main reasons for his confidence in European banks is their resilience amid changing interest rates. The strategist said UBS expects interest rates to rise further and stay "high for longer." European banks are accessible to investors through ETFs such as the iShares STOXX Europe 600 Banks ETF in the U.S. and the Lyxor STOXX Europe 600 Banks in Europe. However, higher interest rates have increased the cost of borrowing and depressed valuations in the property sector, potentially increasing the risk to lenders.

Persons: Gerry Fowler, Fowler, CNBC's, they're Organizations: Nasdaq, Big Tech, Tech, Nvidia, UBS, Banks, Citi Locations: U.S, Europe

☆ JPMorgan is watching: How the nation's largest bank keeps tabs on its workforce — from their office attendance to emails and Zoom calls
▼ + stars: | 2023-05-17 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +5 min

JPMorgan is calling employees back to the office — and keeping tabs on attendance. This has reignited a conversation about the bank's surveillance of its employees. They explained how the bank tracks everything from office attendance to time spent on Zoom calls and composing emails. Many of the JPMorgan employees Reed spoke to said their surveillance made them feel untrusted by their bosses. Inside the little-known tool that gives JPMorgan Chase the power to collect data about everything its employees do at work

☆ Warner Bros. Discovery CEO says writers' strike will be ended by 'love for the business and the love for working'
▼ + stars: | 2023-05-07 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Discovery's CEO said he thinks a "love for working" will end the writers' strike. David Zaslav also said the 10,000 striking writers deserved to be paid fairly. Discovery says he thinks the widespread writers' strike will be ended by writers' "love of storytelling and lover for working." While Zaslav lent into emotive arguments to end the strike, he did also suggest writers deserved a better pay package. "In order to create great storytelling, we need great writers," Zaslav said in the interview.

☆ Warren Buffett says AI is like the creation of the atom bomb — he often calls nuclear war his biggest fear
▼ + stars: | 2023-05-07 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Warren Buffett compared AI to the creation of the atom bomb at Berkshire Hathaway's annual meeting. Buffett has long spoken about his fears around nuclear war keeping him up at night. Warren Buffett compared artificial intelligence to the creation of the atom bomb, becoming the latest high-profile business figure to express alarm about the rapid advancement of the technology. "We did invent for very, very good reason, the atom bomb. And, World War Two, it was enormously important that we did so.

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