Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Financial Times"


25 mentions found


Its peak $100 billion valuation once made it the world's third largest privately-held company, behind TikTok owner Bytedance and Elon Musk's SpaceX. Estimates have pegged Shein's IPO valuation at around $90 billion, Bloomberg reported last year. AdvertisementTo gauge what happens to some Shein items once they're returned, BI reporters in the UK put two AirTag trackers on Shein garments and sent them back. Shein is more directly involved in production and focuses on clothes, but Temu's popularity "could affect the valuation," Swartz said. In a November statement following the news of Shein's IPO, chairman Mike Gallagher urged investors and banks underwriting the move to "carefully examine Shein's regulatory and compliance programs."
Persons: , Bytedance, Sky Xu, Yangtian Xu, Chris, Shein, confidentially, David Swartz, Swartz, Lululemon, JADE GAO, Stephanie Benedetto, Queen, Benedetto, they're, Shein's, Morningstar's Swartz, Temu, Mike Gallagher Organizations: Service, Elon, SpaceX, Business, Reuters, Authentic Brands, Wall Street, CNBC, Bloomberg, Morningstar, Zurich Insurance Group, Guardian, BI, Coventry Airport, SEC, Street, Financial Times, London Stock Exchange, Chinese Communist Party, Nike, Adidas Locations: China, , Singapore, Sequoia China, London , Hong Kong, York, London, Canary Wharf, Coventry, Walsall, Northern Ireland, England, Kent, Washington, Xinjiang, Dublin, Shein
ConocoPhillips said Wednesday it had agreed to buy Marathon Oil in an all-stock deal worth $22.5 billion, including about $5.4 billion of debt. Marathon Oil shareholders will receive 0.255 ConocoPhillips shares for each Marathon share they own, representing a 14.7% premium to the closing price on Tuesday. Shares of Marathon (MRO) were up more than 10% in premarket trade, while Conoco (COP) stock was down about 2%. “This acquisition of Marathon Oil further deepens our portfolio and fits within our financial framework, adding high-quality, low cost of supply inventory,” Ryan Lance, ConocoPhillips CEO, said in a statement. Until 1962, Marathon Oil was called The Ohio Oil Company, which was founded in 1887 and was bought two years later by John D. Rockefeller’s Standard Oil.
Persons: Hess, ” Ryan Lance, John D, Lee Tillman, ” Tillman Organizations: London CNN, Big Oil, ConocoPhillips, Oil, Marathon Oil, Occidental, Diamondback Energy, Endeavor Energy Partners, Marathon, Financial Times, Devon Energy, Ohio Oil Company Locations: Conoco, Houston, multibillion
On Net-A-Porter, the most expensive Golden Goose shoe costs just over $1,000, while the cheapest is $420. Some of the more expensive Golden Goose sneakers. www.goldengoose.comInterest in Golden Goose sneakers was bubbling among Zoomers last summer and seems to have boomed in 2024. Some Golden Goose disciples say they've been questioned about why they would buy dirty shoes, particularly for hundreds of dollars. When Schiffer's mom noted ripped jeans are in style too, her father asked: "Why don't you just buy my old sneakers?"
Persons: , Porter, Francesca Rinaldo, Alessandro Gallo, they've, Dunks, Golden, Taylor Swift, Selena Gomez, Hilary Duff, Silvio Campara, aren't, Sydney Schiffer, there's, Schiffer, I'm Organizations: Service, Business, Super, Adidas, Bloomberg, Financial Times Locations: Milan
Meta and xAI are competing to partner with buzzy AI startup Character.AI, per the Financial Times. It's the latest twist in the rivalry between Elon Musk and Mark Zuckerberg. The two billionaires have been feuding for years, and are now both racing to build superhuman AI. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe rivalry between Elon Musk and Mark Zuckerberg may be heating up again.
Persons: Elon Musk, Mark Zuckerberg, , Musk's xAI, Character.AI, Andreessen Horowitz Organizations: Financial Times, Elon, Service, Meta, Financial
European markets set to open mixed as UK's FTSE reopens
  + stars: | 2024-05-28 | by ( Karen Gilchrist | ) www.cnbc.com   time to read: +1 min
The U.K.'s FTSE 100 was seen opening lower after markets were closed for the late May bank holiday, while other major European bourses were seen moving higher. European markets are poised to open mixed on Tuesday after a quiet start to the trading week in which several key global markets were closed. Tuesday's session is light on the corporate earnings front, while wholesale price data is due out of Germany. Investors are continuing to weigh the prospects of a June rate cut by the European Central Bank after two key policymakers threw their weight behind the prospect on Monday. Meanwhile, the ECB's Chief Economist Philip Lane said in an interview with the Financial Times, "Barring major surprises, at this point in time there is enough in what we see to remove the top level of restriction."
Persons: Olli Rehn, Philip Lane Organizations: Investors, European Central Bank, ECB, Financial Times Locations: Germany
(That's not a knock on the company — for a lot of crypto exchanges, the Empire State is a tough nut to crack.) Crypto.com's primary business is its cryptocurrency exchange, which works as a middleman for people buying and selling crypto, but it also offers other products, including crypto Visa cards. To be sure, the casino thing could be said about most crypto exchanges — and sports-betting apps, and many regular trading apps. It's a good reminder that, whatever the company, it's better to use exchanges only for trading your crypto assets, not for storing them. Or maybe in five years we'll be looking back at this moment and saying: "Remember that one crypto company?
Persons: Eminem, Sam Bankman, Crypto.com doesn't, Jojo Siwa, it's, He'd, Nic Carter, Crypto.com, Kris Marszalek, Foris DAX Asia, It's, Matt Damon, Steven Kalifowitz, Bill Clinton, Tony Blair, FTX, hasn't, Marszalek, wasn't, Alex Gladstein, Emily Stewart Organizations: NBA, Los Angeles Lakers, It's, UFC, NASCAR, Lakers, Castle, Ventures, Staples Center, Miami Heat's, Binance's, Forbes, Financial Times, Securities and Exchange Commission, Bloomberg, PayPal, JPMorgan doesn't, Human Rights Foundation, Business Locations: New York, America, Singapore, Nigeria, Bulgaria, Monaco, Hong Kong, Polish, Los Angeles, Bahamas, Netherlands, Asia, Americas
Bill Gross warned that a second Trump presidency could harm bond markets. Gross highlighted that Trump's tax cuts and spending programs would worsen the fiscal deficit. AdvertisementDonald Trump winning the presidential election would be bad news for the bond markets, said "Bond King" Bill Gross. A Trump presidency would worsen US fiscal deficits, which would hurt bonds, the billionaire investor and PIMCO cofounder said in an interview with the Financial Times. "Trump is the more bearish of the candidates simply because his programs advocate continued tax cuts and more expensive things," Gross said.
Persons: Bill Gross, Trump, Gross, , Donald Trump Organizations: Service, Financial Times, Business
China is banning social media influencers for flaunting lavish lifestyles and promoting materialism. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFlaunting a lavish lifestyle to promote materialism can get you thrown off social media in China. Since April, China has been busy cracking down on influencers who promote ostentatious lifestyles as a means of gaining profit. China's internet regulator, Cyberspace Administration of China, launched a campaign last month to discourage social media users from "deliberately showcasing a lavish lifestyle built on wealth," the Financial Times reported.
Persons: China's Kim Kardashian, Organizations: Cyberspace Administration of China, Financial Times, Service, Cyberspace Administration, Business Locations: China
European stocks close higher; UK and U.S. markets closed
  + stars: | 2024-05-27 | by ( Katrina Bishop | ) www.cnbc.com   time to read: +1 min
European markets closed slightly higher on Monday as traders searched for direction on a quiet day for markets. U.K. markets are closed for the late May bank holiday, while stateside, U.S. markets are shut for Memorial Day. It comes as speculation over when interest rates might start to come down dominates the news flow once again. On Monday, two key European Central Bank figures threw their weight behind the prospect of a June interest rate cut. It indicates that the European Central Bank is going to act in June — sooner than the U.S. Federal Reserve, which usually leads the way in monetary policy decisions.
Persons: Germany's Dax, Olli Rehn, Philip Lane, Goldman Sachs Organizations: CAC, European Central Bank, ECB, Financial Times, U.S . Federal Reserve, Federal Locations: U.S
Pilots of the "Sharp Kartuza" division of FPV kamikaze drones prepare drones for a combat flight on May 16, 2024 in the Kharkiv region, 8 km from the border with Russia. Six NATO countries neighboring Russia are joining forces to build a "drone wall" to protect their borders, Lithuania's interior minister announced on Friday. In an interview with Finnish television channel Yle, cited by the Financial Times, Finland's Interior Minister Mari Rantanen said that the drone wall plan would "improve in time." The interior ministers of the six countries taking part in the drone wall project met in the Latvian capital of Riga on May 23 and 24. "The phenomenon of instrumentalized migration on the EU's external borders is a common challenge for our countries.
Persons: Agne Bilotaite, Bilotaite, Mari Rantanen, Rantanen Organizations: NATO, Yle, Financial Times, Finland's, EU Locations: Kharkiv, Russia, Norway, Poland, Lithuanian, Baltic, Latvia, Estonia, Finland, Latvian, Riga, Belarus, Africa
Entrepreneur Grant Cardone said collecting and displaying art gives him more fulfilment than investing. Grant CardoneMultimillionaire Grant Cardone, who has been collecting art for around 15 years, says he's a spontaneous buyer. Bunker artChristian and Karen Boros' home is on top the bunker that houses their private art collection, the Boros Collection, in the center of Berlin, Germany. An artwork by Cyprien titled "Gaillard Lesser Koa Moorhen," 2013, part of the Boros Collection. Karen and Christian Boros live in a penthouse apartment above their art collection in Berlin.
Persons: Grant Cardone, Grant Cardone Multimillionaire Grant Cardone, Cardone, Grant Cardone's, Burton Morris, Tommy Hilfiger, Hilfiger, Basquiat, Grant, , Kenny Scharf, Scharf, Phillips, Jean, Michel Basquiat, gesturing, Al, Holly, Christian Levett, He's, Levett, Elaine de Kooning, Pat Passlof, Helen Frankenthaler, Joan Mitchell, It's, … Mitchell, Elaine, Kooning, John F, Kennedy, Karen Boros, John Macdougall, Christian, Raoul Zoellner, Cyprien, Boros, Noshe Christian, Joseph Beuys —, Zoellner, Karen, Christian Boros, Max von Gumpenberg Organizations: CNBC, Apple, Grant Cardone's Miami, Harvard University and New York University, Mougin Museum, London, AFP, Getty, Berlin, Noshe, Financial Times Locations: Miami, Cardone's, American, Grant Cardone's, Florence, Italy, Mougins, France, Ponte, Berlin, Germany
Six NATO countries are planning a "drone wall" to defend against Russia. Finland, Norway, Poland, and the Baltic states want to prevent smuggling and Russian provocations. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSix NATO countries are joining forces to create a "drone wall" to defend themselves against Russia, AFP news agency reported. Over the weekend, ministers from Finland, Norway, Poland, Estonia, Latvia, and Lithuania convened to discuss a coordinated system to help defend against Russian provocations and smuggling attempts, per the Financial Times.
Persons: , Agnė Bilotaitė Organizations: NATO, Service, Financial Times, Baltic News Service, Business Locations: Russia, Finland, Norway, Poland, Baltic, AFP, Estonia, Latvia, Lithuania
Read previewElon Musk's xAI just took a critical step in building up its war chest to take on Sam Altman's OpenAI. The AI startup said in a blog post on Sunday that it had raised $6 billion for their Series B funding round. Related stories"There will be more to announce in the coming weeks," Musk said in an X post on Monday morning. AdvertisementThe mercurial billionaire said in a subsequent X post that xAI's pre-money valuation was $18 billion. Pre-money valuation was $18B — Elon Musk (@elonmusk) May 27, 2024Sunday's announcement marks the first time xAI has talked about its fundraising efforts.
Persons: , Elon Musk's xAI, Sam Altman's OpenAI, Andreessen Horowitz, Musk, Elon, xAI, he'd, Altman, OpenAI Organizations: Service, Sequoia Capital, Saudi Arabia's, Business, Bloomberg, Financial Times, The New York Times, OpenAI, Microsoft, Google Locations: Saudi, Saudi Arabia's Kingdom
Top commodity trader Pierre Andurand expects copper to reach $40,000 a ton in the next four years. AdvertisementCopper prices at records are only a taste of what's to come, says top commodities trader Pierre Andurand. Copper is already sitting near record highs, so any quadrupling from current levels would mean a prolonged series of fresh records. It's bad news for a depleting inventory; last year, global copper supply hit its lowest seasonal level since 2008. The supply-demand imbalance is the same thesis for why commodities expert Jeff Currie expects higher prices, though his projection is nowhere near Andurand's — Currie expects copper to hit $15,000 in the coming years, and has called it "the most compelling trade" he's ever seen.
Persons: Pierre Andurand, , That's, Andurand, BHP's, Jeff Currie, — Currie, I'm, Currie Organizations: Service, Financial Times, Bloomberg
High-end travelers are turning to supervans with heated floors, Italian tiles, and home theatres, according to Lucas Ravizza, who builds and designs luxury vans for a living. AdvertisementLucas Ravizza is photographed inside one of the luxury vans he designed. Ravizza is among the many luxury van influencers sharing their designs online. Matt MaloneRavizza said he usually spends $180,000 buying and converting luxury vans for clients who use them as vacation homes. Ravizza said anyone can upgrade a van to add luxury elements, but there's one mistake they should avoid.
Persons: , Lucas Ravizza, Tom Ripert, Ripert, Lucas, Matt Malone, Ravizza, Matt Malone Ravizza Organizations: Service, Business, Financial Times, Econ Market Research Locations: San Francisco
A far-right group in the European Union’s Parliament announced on Thursday that it had ousted the Alternative for Germany party from its coalition, dealing a severe blow to a key alliance just two weeks before E.U. In a statement on its official X account, the Identity and Democracy Group wrote that it had decided to exclude Alternative for Germany, or AfD, because of comments made by Maximilian Krah, the AfD’s lead candidate in the upcoming elections. In an interview last week, Mr. Krah appeared to minimize the crimes carried out by the SS, the Nazi paramilitary force that killed millions of people during the Holocaust. “One million soldiers wore the SS uniform,” Mr. Krah said to La Repubblica and The Financial Times in a joint interview. You have to establish individual guilt.”In its statement, Identity and Democracy wrote that it “no longer wants to be associated with the incidents involving Maximilian Krah, head of the AfD list for the European elections.”
Persons: Maximilian Krah, Krah, Mr, Organizations: Union’s, Democracy Group, SS, Nazi, Repubblica, Financial Times, Waffen, Democracy Locations: Germany
Read previewRussian President Vladimir Putin is targeting a strategic Swedish island that offers mastery over the Baltic Sea, the commander-in-chief of Sweden's army warned this week. Putin's goal is to gain control of the Baltic Sea," Micael Bydén told German news outlets, according to Politico's translation of his remarks. Sweden joined NATO in early March, and the alliance is now the dominant force in the Baltic Sea, thanks in large part to its control of Gotland. Advertisement"If Russia takes control and seals off the Baltic Sea, it would have an enormous impact on our lives — in Sweden and all other countries bordering the Baltic Sea," Bydén said. Swedish military officials watch a Swedish C-130H take off from a non-traditional runway on Gotland Island on October 23, 2021.
Persons: , Vladimir Putin, Putin, Micael Bydén, Bydén, Patrik Orcutt, Ulf Kristersson Organizations: Service, Business, NATO, Nordic, Russia's Ministry of Defence, Moscow Times, US Army, Politico, Sweden's, Financial Times, Gotland Regiment, US Locations: Swedish, Baltic, Gotland, Putin's, Sweden, Russian, Kaliningrad, It's, Rhode, Russia, Bydén, Moscow, Lithuania, Finland, Latvia, Ukraine
Ukraine is mounting rockets onto its naval drones, an official told the Financial Times. It's used them to strike Russian positions in occupied Mykolaiv, the official told the FT.A video of a reported attack shows a sea drone firing several rockets toward Russian targets. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUkraine has placed rockets onto its feared sea drones and is using them to attack Russian land targets, according to a Ukrainian official. In a post on X, citing an unnamed Ukrainian intelligence official, Christopher Miller, the Financial Times' Ukraine correspondent, said that sea baby naval drones are now being mounted with a Grad multiple launch rocket system.
Persons: It's, , Christopher Miller Organizations: Financial Times, Service, Business Locations: Ukraine, Mykolaiv
Meta may need such access to make its generative AI tools, like Meta AI, more effective for users and more competitive in the increasingly crowded market of generative AI search tools and chatbots, the people said. User posts and comments on Facebook or Instagram are not necessarily the type of high-quality training data that generative AI chatbots and search tools need to generate quality outputs. Previously, Zuckerberg said he did not expect the generative AI boom. The US Copyright Office is considering new rules to cover generative AI. Major rival tech companies now fiercely competing in generative AI have already entered into deals with news publishers and media outlets for more access to content to be used as model training data.
Persons: Meta, Mark Zuckerberg, Zuckerberg, Dotdash Meredith, Axel Springer, OpenAI, Kali Hays Organizations: Service, Meta, Facebook, Business, News, Google, US, News Corp, Financial, Associated Press, BI, Politico, Microsoft, The New York Times, Times Locations: Europe, khays@businessinsider.com
Nvidia's Hopper chips include the H100, which was announced in 2022 and faced severe supply shortages last year as the AI gold rush intensified. Tuesday's AWS news represents a pushout in demand for Nvidia chips, not a loss of it. That would be the so-called "digestion" phase for AI chips that Wall Street has been speculating about since last year. If anything, AWS deciding to wait for the more-powerful Blackwell chips could mean the digestion phase is further out on the horizon than initially thought. Unlike last year, when Nvidia's chips were in such short supply, there are now rival chips out there, such as AMD's MI300X, which is angling for a corner of the inferencing market .
Persons: you've, it's, Jim Cramer, Hopper, Blackwell, Nvidia's Hopper, There's, Grace Hopper Superchip, Kimberly Powell, Powell, Jim Cramer's, Jim, Jensen Huang, Justin Sullivan Organizations: Nvidia, Blackwell, Amazon Web Services, CNBC, NVIDIA, AWS, Club, SAP Center Locations: Hopper, Ceiba, San Jose , California
Read previewTalks of a looming recession are flaring across Wall Street, but the savings war chest of baby boomers has staved off a US downturn. AdvertisementInstead, only the goods sector has shown signs of a growth recession, Yardeni said. But that's after the lockdown's hard-to-beat buying spree; today, goods spending remains at a record high when adjusted for inflation. Related storiesBut to Yardeni, they're the reason no consumer recession has appeared in the past two years, he separately wrote in April:"The Baby Boomers watched a lot of 'Star Trek' during the 1960s. AdvertisementMeanwhile, the baby boomer focus on service spending may also have deformed indicators, making things look gloomier than they are.
Persons: , Ed Yardeni, Yardeni Organizations: Service, Business, Financial Times, Boomers
The 61-year-old Silicon Valley veteran running Nvidia has overseen a $2 trillion surge in its value since the start of last year. Justin Sullivan/Getty ImagesThe hype behind Nvidia's chips is no joke. But competitors have been busy developing AI chips of their own to reduce reliance on Nvidia's increasingly expensive offerings. AMD CEO Lisa Su, who's Huang's cousin, is aiming to pry Nvidia customers away with a chip named the MI300X that costs between $10,000 and $15,000. If they succeed in using Triton, they could be one step closer to a future in which alternatives to Nvidia's chips are easier to use.
Persons: , Jensen Huang, Sam Altman, Mark Zuckerberg, Matt Bryson, Huang, isn't, Justin Sullivan, Taylor Swift, Nvidia's, Blackwell, Zuckerberg, Lisa Su, who's, Jensen, AMD, CUDA, OpenAI Organizations: Service, Silicon, Nvidia, Microsoft, Apple, Business, GTC, AMD, Google, Meta, Financial Times Locations: San Jose , California, Woodstock
Baby formula suits : Activist investor group Eminence Capital has built a stake of at least 0.5% in Reckitt Benckiser, according to the Financial Times. Eminence's reported position follows Reckitt's selloff to an all-time low in March on concerns about baby formula litigation. Abbott makes a competing baby formula and faces similar lawsuits, alleging the companies failed to warn about the risks of their products. ABT YTD mountain Abbott YTD Abbott's next baby formula event is a state trial in St. Louis that begins in July. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Eminence's, Reckitt's, Abbott, we've, Reckitt, ABT, YTD Abbott's, Louis, we're, We're, Jim Cramer's, Jim Organizations: CNBC, Nvidia, Blackwell, Eminence, Financial Times, Abbott Labs, TJX, Target, Devices, Jim Cramer's Charitable Locations: Reckitt Benckiser, Illinois, Reckitt, St, Maxx, Williams, Sonoma
Read previewOpenAI's biggest critics have long held the view that Sam Altman's success has been built on an "ask forgiveness, not permission" strategy that could come back to haunt him. The ChatGPT maker has been embroiled in fresh controversy since Monday after Scarlett Johansson lashed out at the company over a new voice feature for its chatbot. her — Sam Altman (@sama) May 13, 2024OpenAI has responded to the criticism by pulling the Sky voice entirely. AdvertisementThough Johansson and Pichai have not filed lawsuits against OpenAI, the "ask forgiveness, not permission" strategy that critics accuse the company of has already landed it in legal hot water. Creators who suspect their work has been used to train OpenAI without their permission will probably wonder why they weren't offered an agreement in the first place.
Persons: , Sam Altman's, Scarlett Johansson, Mr Altman, Johansson, ChatGPT, Altman, Theodore, Joaquin Phoenix, Sam Altman, OpenAI, Sundar Pichai, Pichai Organizations: Service, Business, NPR, OpenAI, YouTube, Authors, New York Times, Sony Music, Financial Times, Creators Locations: San Francisco
New York CNN —Major business leaders and economists are worried about America’s growing debt problem. Last week, JPMorgan CEO Jamie Dimon expressed fear that a crisis is looming and that unchecked deficit spending could explode. The big picture: Between the Trump-era tax cuts and Covid-era stimulus programs, the national debt has exploded in recent years. Trump Media (DJT) reported a loss of $327.6 million during the first three months of the year, compared with a loss of $210,300 a year earlier. The company generated just $770,500 of revenue, marking the second-straight quarter where its revenue totaled less than $1 million.
Persons: Jamie Dimon, , ” Dimon, , Ray Dalio, Columbia Business School Glenn Hubbard, Joe Biden’s, Jason Thomas, Carlyle, ” Thomas, Hanna Ziady, Liz Truss, Treasuries, Hubbard, Thomas, it’s, Donald Trump, Matt Egan, Devin Nunes, Martin Gruenberg, Elisabeth Buchwald, ” Gruenberg, Sen, Sherrod Brown,  Gruenberg, He’s, Cleary Gottlieb Steen, Gruenberg’s, Gruenberg Organizations: CNN Business, Bell, New York CNN —, JPMorgan, Sky News, Financial, Columbia Business School, United, CNN, IMF, Congressional, Office, Peterson Foundation, Treasury, Trump Media, Trump Media & Technology Group, Truth Social, Company, Big Tech, ” Trump Media, Federal Deposit Insurance Corporation, Senate Banking Committee, FDIC, Hamilton Locations: New York, Bridgewater, United States, , United, United Kingdom
Total: 25