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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla can still grow its volumes by 30-35 percent a year, says Future Fund's Gary BlackGary Black, Future Fund managing partner, joins 'Squawk on the Street' to discuss his concerns with Elon Musk, why the managing partner seems unconcerned with Musk's comments impacting the brand, and the growth of electric vehicles.
Persons: Fund's Gary Black Gary Black, Elon Musk Organizations: Future Fund
Elon Musk is facing backlash from business leaders after he appeared to endorse an antisemitic conspiracy theory. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementElon Musk is facing backlash from the business community after he appeared to endorse an antisemitic post on X. AdvertisementAnother Tesla bull, Gary Black, whose Future Fund invests in Tesla, similarly reported that clients had reached out to him regarding Musk's comments. While the backlash escalates, Musk's chosen X CEO Linda Yaccarino is left to clean up the growing mess.
Persons: Elon Musk, , Elon, Musk, Musk's, Dustin Moskowitz, Marc Bodnick, Andrew Left, Tesla, Ross Gerber, I've, Gary Black, Kristin Hull, Nia, demote, Bravo —, Linda Yaccarino Organizations: IBM, Service, Buffalo, Elon, SpaceX, BMW, CNBC, EV, Tesla, Nia Impact, Employees, Media, Apple, Oracle Locations: Pittsburgh
SYDNEY, Nov 13 (Reuters) - Australia's financial position will be more precarious and credit rating at risk should the government succumb to the temptation to spend the sovereign wealth fund on political projects, its outgoing chair said in a speech on Monday. The A$205 billion ($130 billion) Future Fund will come under pressure to fund state priorities as an aging population reduces taxpayers and consumes a larger chunk of spending, Chairman Peter Costello said on Monday at a UBS conference in Sydney. "As government's financial position declines, I expect we'll see more plans to spend it," he said. "Once it is spent there is nothing to offset government sovereign debt, unfunded pension and unfunded military claims. Once it is spent the pressure to raise taxes and borrow more will accelerate."
Persons: Peter Costello, Costello, telco, Lewis Jackson, Stephen Coates Organizations: SYDNEY, UBS, Labor, Liberal, Australia's AAA, telco Telstra, Thomson Locations: Sydney, China
The others will use a combination of renewables, nuclear power, and natural gas with carbon capture and storage. Putting federal money behind a program to fight climate change while using natural gas, a fossil fuel, as one of its main ingredients may not seem intuitive. To wit, the Bipartisan Infrastructure Law, where the funding for the hydrogen hubs comes from, specifically required that two of the selected hydrogen hubs be located in natural gas-rich regions. Making hydrogen from natural gas with carbon capture will require additional energy and be more expensive than producing hydrogen from natural gas where the excess carbon emissions just spew into the atmosphere. That is what the U.S. government is trying to change with its hydrogen hubs program and the production tax credit.
Persons: Joe Biden, Elizabeth Flores, Jennifer Granholm, Rachel Fakhry, Fakhry, Jonathan Ernst, Kent, Sean Heinroth, Young's, That's, Heinroth, Tom Oakland, Wisconsin —, They've, Alex Kizer, Kizer Organizations: Cummins, Star Tribune, Getty, Swiss Army, U.S . Department of the Energy, Natural Resources Defense, Energy, Department of Energy, CNBC, Reuters, Infrastructure Law, Ernst, of Energy, North Dakota Department of Commerce, Oakland, EFI Foundation, U.S, Treasury Department Locations: America, Fridley, Minn, United States, U.S, Tioga, Philadelphia , Pennsylvania, Houston, Montana , North Dakota, Minnesota, Wisconsin, Washington
The logo of Tesla is seen in Taipei, Taiwan August 11, 2017. The company's spending is, however, expected to return to the $7 billion and $9 billion range in the next two years, a regulatory filing showed. He warned that rising interest rates could impact demand at Tesla, on top of a margin-sapping price war this year to maintain sales. Tesla shareholders -- including Gary Black, managing partner of The Future Fund, which owns Tesla stock -- have been calling for the automaker to advertise, saying that price cuts have only had a limited impact on demand. Reporting by Aditya Soni and Juby Babu; Editing by Maju Samuel and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
Persons: Tyrone Siu, Tesla, Elon Musk, Musk, Gary Black, Aditya Soni, Juby Babu, Maju Samuel, Savio D'Souza Organizations: Tesla, REUTERS, Fund, Thomson Locations: Taipei, Taiwan, Mexico
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla bull Gary Black and bear Dan Nathan debate what's next after Q3 earningsGary Black, The Future Fund portfolio manager and managing partner, joins 'Fast Money' for a bull versus bear showdown with "fast Money' trader Dan Nathan on Tesla after a miss on Q3 earnings results.
Persons: Gary Black, Dan Nathan, what's, Tesla Organizations: Fund
"I don't think the price cuts are over, mainly for the reason that demand is still weak," said Thomas Martin, senior portfolio manager at Tesla shareholder Globalt Investments. Tesla has already cut U.S. prices of its Model 3 compact sedan and Model Y SUV in October. The slump will continue into the fourth quarter and margins could dip below 15%, said Wells Fargo analyst Colin Langan. However, that likely falls short of offsetting the price cuts," Langan said. Tesla slashed the technology's price by a fifth in August and analysts said that more cuts could be on the cards.
Persons: Florence, China's, Thomas Martin, Elon Musk, Tesla, Wells, Colin Langan, Langan, Musk, Gary Black, Akash Sriram, Aditya Soni, Sayantani Ghosh, Arun Koyyur Organizations: Fair for Trade, Services, REUTERS, HK, Globalt Investments, Reuters, Visible Alpha, Fund, Reuters Graphics Reuters, Thomson Locations: Beijing, China, Europe, MEXICO, Nuevo Leon, Mexican, Bengaluru
The message was that a tie-up with Millennium was a 50-50 proposition and that any agreement would be contingent on Schonfeld remaining independent. Other strategic investors in the mix include Blackstone, GIC, and Future Fund, an Australian sovereign wealth vehicle that's already a significant Schonfeld investor. Schonfeld's assets have dipped this year amid meager returns, and the fund has cut costs and slowed hiring in recent months. But fundraising from cautious institutional investors is time-consuming, and Millennium chief trading officer Mark Meskin contacted Schonfeld's leadership to discuss a potential tie-up, sources say. Schonfeld, industry sources say, was likely under pressure from existing investors, who have had to bear a higher brunt of the fees following redemptions.
Persons: Izzy Englander, Justin Gmelich, Ryan Tolkin, Schonfeld, Steve Schonfeld's, Mark Meskin, Schonfeld's, Organizations: Financial Times, Millennium, Schonfeld, Tolkin, Abu, Abu Dhabi Investment Authority, year's, Future Fund Locations: Manhattan, Millennium's, Abu Dhabi, Schonfeld
Putin likely wanted to show that Moscow is still important in the Middle East by visiting Iran, said John Drennan of the U.S. Institute of Peace. It could present an opportunity for them but also could present a very, very disastrous outcome for their influence in the Middle East too if the conflict spirals out of control," Ramani said. Analysts also believe Russia will use the war in Israel and Gaza to sow disinformation about Ukraine and discord among its allies. As such, the war between Israel and Hamas also provides Russia with an opportunity to flex its diplomatic muscles in the Middle East, after something of a hiatus from the global stage. So this shows that Russia is not isolated in the Middle East, and Russia still maintains the same array of diplomatic partnerships that it had before the war," he noted.
Persons: Vladimir Putin, Ebrahim Raisi, Putin, John Drennan, Sergei Savostyanov, Samuel Ramani, Ramani, Volodymyr Zelenskyy, Joe Biden, Jim Watson, Volodymy Zelenskyy, Sergei Karpukhin, Benjamin Netanyahu, Maxim Shemetov, They've, they've, Bashar al, Assad Organizations: Getty, Palestinian, Hamas, U.S . Institute of Peace, AFP, Royal United Services Institute, CNBC, Kremlin, Ukraine, Analysts, White, U.S, Congress, NATO, Afp, International Energy Agency, Russia, Israeli, Iraqi Locations: Sochi, Russia, Israel, Gaza, Moscow, Iran, Ukraine, Lebanon, Syria, Iraq, U.S, Europe, Washington ,, Brussels, Russian, OPEC, Turkey, Egypt, Tehran
REUTERS/Carlos Osorio Acquire Licensing RightsTORONTO, Oct 10 (Reuters) - Bank of Nova Scotia (BNS.TO) and Sun Life Financial's (SLF.TO) asset-management division are partnering to tap into the demand from wealthy Canadians looking to invest in private credit, the firms said on Tuesday. The move comes as private credit becomes one of the fastest growing and most attractive private asset classes, forecast to grow to $2.3 trillion in assets globally by 2027, according to Preqin data. The private credit market is less mature in Canada than in the U.S. and Europe but is slowly gaining attention. In a recent survey taken out by Canadian firm Ninepoint Partners, nearly two-thirds of financial advisors said they expect to increase their client or model portfolios' exposure to private credit in the next 12 months. Scotiabank Global Wealth Management is the third-largest business of its kind in Canada with C$631 billion of assets globally, while SLC Management manages $361 billion in assets.
Persons: Carlos Osorio, Glen Gowland, Nivedita Balu, Marguerita Choy Organizations: The Bank of, Scotiabank, REUTERS, Rights, Bank of Nova, SLC Management, Sun, Wealth Management, Ninepoint Partners, Scotiabank Global Wealth Management, Thomson Locations: The Bank of Nova Scotia, Toronto , Ontario, Canada, Bank of Nova Scotia, Sun, U.S, Europe, Toronto
Ajay Banga, World Bank president, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023. They would include U.S. President Joe Biden's proposed $2.25 billion supplemental budget request for the World Bank, along with expected contributions from Germany, Japan, South Korea, Saudi Arabia and Nordic countries, he said. The bank is also examining other ways to expand lending, including providing more loan guarantees, lending against callable capital that is pledged but not paid-in, and special bonds that can serve as hybrid capital. China, India and Brazil got larger shareholdings in the bank in a 2018 capital increase and would likely want more say in a future capital increase, Banga said. "That is a pimple on a dimple on an ant's left cheek compared to what we need in the world," Banga said.
Persons: Ajay Banga, Seth Wenig, Banga, Joe Biden's, I'm, David Lawder, Paul Grant, Rosalba O'Brien Organizations: World Bank, Bank, Foreign Relations, International Development Association, MasterCard, CFR, Bank for Reconstruction, Development, Thomson Locations: New York, Germany, Japan, South Korea, Saudi Arabia, U.S, Marrakech, Morocco, United States, China, India, Brazil
And markets widely expect the PBOC to loosen monetary policy further. But the divergent monetary policy paths between the world's two largest economies widened the yield gap to 164 basis points between China's benchmark 10-year government bonds and U.S Treasuries s - the highest since February 2007. "More broadly, recent economic data releases in China have been disappointing, while those in the U.S. have surprised to the upside." The widening yield gap reduced foreign appetite in China's onshore yuan bonds, with latest official data showing overseas investors' holding declined in July. But the expectations for further monetary easing and capital outflow risks has pressure on the Chinese yuan to depreciate further.
Persons: Janet Yellen, Mark Schiefelbein, David Chao, Eugenia Victorino, SEB, Winni Zhou, Tom Westbrook, Simon Cameron, Moore Organizations: Rights, People's Bank of China, Asia, Thomson Locations: United States, Diaoyutai, Beijing, China, Rights SHANGHAI, SINGAPORE, Invesco, U.S, Asia
Electric vehicle premiums will ride high in India
  + stars: | 2023-08-14 | by ( Pranav Kiran | ) www.reuters.com   time to read: +4 min
Mahindra Funster electric concept SUV is on display after it was unveiled at the India Auto Expo 2020 in Greater Noida, India, February 5, 2020. Singapore's Temasek handed Anand Mahindra’s EV business a punchy valuation of up to $9.8 billion this month. The $23 billion Mumbai-listed Mahindra & Mahindra (MAHM.NS) generates most of its top line from its sprawling autos business churning out everything from commercial vehicles to three wheelers. It follows the sale of up to 4.8% to British International Investments, the UK's development finance institution, at a $9.1 billion valuation in July last year. True, Temasek's valuation of the EV business depends on the latter hitting undisclosed milestones.
Persons: Kumar Rakesh, It’s, Maruti Suzuki, Una Galani, Katrina Hamlin Organizations: Mahindra, India, REUTERS, Reuters, Singapore's Temasek, Anand, Temasek, British International Investments, BNP, Tata Motors, TPG, HK, China’s MG Motors, Maruti, India’s, India’s Mahindra, British International Investment, Thomson Locations: Greater Noida, India, BENGALURU, Mumbai, China, EVs, Temasek
Until now, determining what exactly is in the vast mess of garbage that arrives at recycling plants has been a dirty and difficult job. Now, companies such as AMP Robotics, Machinex, Recycleye and a California-based startup called EverestLabs are using AI and robotics to do just that. "Because of AI, because of the robotic arms, we have seen plants recover 10, 20, 30% more than what they have been doing previously," said JD Ambati, CEO of EverestLabs. "They have been losing millions of dollars to the landfill, and because of AI, they were able to identify the value of the losses and deploy robotic arms to capture that." Add to that robotic arms, which he says recover the packaging three to four times more effectively than humans.
Persons: Ambati, Tom Outerbridge, Lisa Rizzolo Organizations: AMP Robotics, Labor, SMR, Translink Capital, NEC, Future, Sierra Ventures, Morado Ventures, Xplorer, CNBC Locations: California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Nothing about Tesla is normal', says Future Fund's Gary Black on market reaction to CFO departureHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Fund's Gary Black, Brian Sullivan, Organizations: CNBC
CNN —For a group of roughly two dozen displaced Afghan university students, the future feels uncertain. More than 100 displaced Afghan students – 80 of whom were in Iraq – have already come to the US, where they are studying at more than 45 universities, according to sources familiar with the situation. The students told CNN they don’t have any clear sense of when they will get approval to come to the US, and they are worried about what the continued delay means for their future. “We Afghans lost almost everything, and this scholarship in the US is a very big opportunity for us,” a third student told CNN. A US State Department spokesperson said they are “aware of the Afghan students at the American University of Iraq-Sulaimani,” but could not comment on individual cases.
Persons: Barham Salih, “ It’s, I’m, , , Iraq –, “ I’m, Vance Serchuk, Institute of International Education “ Organizations: CNN, American University of Afghanistan, American University of Iraq, Afghan Future Fund, Qatar, Project, AUAF, US State Department, U.S . Refugee, Afghan Futures Fund, Qatar Fund For Development, Institute of International Education, American University Locations: Kabul –, , Afghanistan, Iraqi Kurdistan, United States, Iraq, U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYounger pick up truck owners will 'love' Tesla's Cybertruck, says Future Fund's Gary BlackGary Black, Future Fund managing partner, joins 'Last Call' to talk the Tesla Cybertruck.
Persons: Fund's Gary Black Gary Black, Tesla Organizations: Future Fund
Ron DeSantis' campaign has spent nearly half of its raised funds for the Republican primary. Now, the DeSantis campaign has roughly $9 million left for the primaries, the New York Times reports. Ron DeSantis' campaign for the 2024 Republican presidential nomination is burning through cash, campaign finance documents reveal, forcing his team to lay off staffers. With only a little more than half his funds left, DeSantis' campaign laid off several employees. While the Times reports the exact number is unknown, one staffer told the outlet it was fewer than 10 people.
Persons: Ron DeSantis, DeSantis, Donald Trump Organizations: Republican, New York Times, Service, Gov, Times, NBC, NBC News Locations: Wall, Silicon
It leads to 22.5% weight loss, according to a Lilly trial published last year. The effect achieves far more weight loss than predecessors. An even earlier stage biotech firm, Antag Therapeutics in Denmark, told Reuters that the ballooning obesity market has improved its fundraising prospects. It curbs appetite by restoring the natural release of GLP-1 and other hormones, without causing nausea, Phase I data showed. The effect of the drug on weight loss is being tested in the Phase II study.
Persons: Rebecca Vogt, Handout, Wegovy, Vogt, Jayson Dallas, Noushin Irani, Mounjaro, Eli Lilly's, Lilly, Andrew Levin, Rivus, Mark Fineman, Ashish Nimgaonkar, Nimgaonkar, Alexander Sparre, Ulrich, Tim Opler, Opler, Stifel, Maggie Fick, Josephine Mason, Daniel Flynn Organizations: REUTERS, Nordisk's, Food and Drug Administration, U.S, Reuters, Rivus Pharmaceuticals, Investors, Deutsche, FDA, Pfizer, Capital Management, Rivus, Therapeutics, Johns Hopkins University, pharma, Antag Therapeutics, Aphaia Pharma, Thomson Locations: Irving , New York, U.S, GLP, Buffalo , New York, United States, Dallas, Baltimore , Maryland, Denmark, Switzerland
[1/7] Rebecca Vogt, a former user of the weight-loss drug Wegovy, poses for a photo, in Irving, New York, U.S., June 20, 2023. It leads to 22.5% weight loss, according to a Lilly trial published last year. An even earlier stage biotech firm, Antag Therapeutics in Denmark, told Reuters that the ballooning obesity market has improved its fundraising prospects. It curbs appetite by restoring the natural release of GLP-1 and other hormones, without causing nausea, Phase I data showed. The effect of the drug on weight loss is being tested in the Phase II study.
Persons: Rebecca Vogt, Handout, Wegovy, Vogt, Jayson Dallas, Noushin Irani, Mounjaro, Eli Lilly's, Lilly, Andrew Levin, Rivus, Mark Fineman, Ashish Nimgaonkar, Nimgaonkar, Alexander Sparre, Ulrich, Tim Opler, Opler, Stifel, Maggie Fick, Josephine Mason, Daniel Flynn Organizations: REUTERS, Nordisk's, Food and Drug Administration, U.S, Reuters, Rivus Pharmaceuticals, Investors, Deutsche, FDA, Pfizer, Capital Management, Rivus, Therapeutics, Johns Hopkins University, pharma, Antag Therapeutics, Aphaia Pharma, Thomson Locations: Irving , New York, U.S, GLP, Buffalo , New York, United States, Dallas, Baltimore , Maryland, Denmark, Switzerland
TipRanks compiles stocks that Wall Street's top analysts agree are strong buys. These 24 stocks have the highest upsides, based on averages of the top analysts' price targets. This year's stock market outlook remains uncertain even after a return to a bull market in the second quarter. The bond market is signaling a recession because of an inverted yield curve, while a strong jobs market and rallying stock market are pointing to strength. TipRanks, a fintech company that compiles and analyzes stock-market data, curates a list of the stocks most loved by top analysts.
Persons: Michael Cuggino, Gary Black Organizations: Biosciences, Wall
The startup SuperScale raised a $5.4 million Series A.SuperScale sells a platform that helps video game companies monetize their libraries. Check out the pitch deck that reveals how SuperScale raised its latest round. Video game companies often have vast gaming libraries, but not enough resources to monetize them through ads or downloadable content. SuperScale is trying to take advantage of the fact that today, the video game industry tends to update existing video games rather than develop new ones. "Rather than launching a sequel, you update the core game," Trancik said.
Persons: SuperScale, Ivan Trancik, Trancik Organizations: Venture, Future Fund, Private Investments, EA, Zynga
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWall Street has a terrible track record at timing Tesla, says Future Fund's Gary BlackGary Black, Future Fund managing partner, joins 'Last Call' to discuss Tesla's recent downgrade, the stocks reaction, and more.
Persons: Fund's Gary Black Gary Black Organizations: Future Fund
Gary Black says the stock market will continue to trend higher with volatility this year. What the remainder of 2023 has in store for the stock market is anyone's guess at this point. But Gary Black, a 20-year fund manager, and the portfolio manager and managing partner at The Future Fund, has a more positive outlook. The next mega trend is big data and cyber security. mega trend losersOn the side of stocks being shorted, these are the companies that Black expects will lose market share due to these mega trends.
Persons: Gary Black, Phillip Wool, it's, Black, He's, cybertruck, Tesla, Elon Musk, Eli Lilly, Lilly, LULU, Armour Organizations: Federal, Federal Reserve, EV, Tesla, Company, Palo Alto Networks, Nvidia, Toyota, CNBC, Bloomberg, UA, MAX Holdings Locations: China's, overproducing
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla rally has 'more room to run', says Future Fund's Gary BlackGary Black, Future Fund portfolio manager, joins 'Last Call' to make the bull case for Tesla during the EV maker's super charged rally.
Persons: Fund's Gary Black Gary Black, Tesla Organizations: Fund, EV
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