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☆ Trump urges GOP to let catastrophic debt default happen if Dems don't accept cuts
▼ + stars: | 2023-05-11 | by ( Mike Calia | ) www.cnbc.com time to read: +2 min

Former US president Donald Trump at Trump Turnberry golf course, in South Ayrshire, during his visit to the UK. Former President Donald Trump on Wednesday urged Republican lawmakers to let the United States default on its debt if Democrats don't agree to spending cuts. "I say to the Republicans out there — congressmen, senators — if they don't give you massive cuts, you're going to have to do a default," Trump said. Trump's words could encourage his many GOP supporters in the House to harden their stance against raising the debt limit without corresponding spending cuts. Treasury Secretary Janet Yellen has said the U.S. government could hit the debt limit as soon as June 1.

Rep. George Santos, R-N.Y., was charged by federal prosecutors with an array of crimes, including fraud, theft, money laundering and making false statements. Santos faces a maximum penalty of 20 years in prison for the top charges against him, according to the Justice Department. In forms he filled out for his 2020 campaign, Santos failed to report more than $25,000 in income from the investment firm where he worked, the indictment alleged. In his 2022 campaign, Santos allegedly falsely reported earning $750,000 in salary and between $1 million and $5 million in dividends from his company, the Devolder Organization. A growing number of Santos' fellow Republicans urged him to step down, even before the federal charges against him first came to light.

☆ With 'The Ferryman,' Justin Cronin explores a brave new dystopian world
▼ + stars: | 2023-05-07 | by ( Mike Calia | ) www.cnbc.com time to read: +7 min

"I didn't sit down and say to myself, 'I'm going to write another dystopia,'" Cronin told CNBC in an interview Tuesday at a bustling lower Manhattan diner. There was a very specific arrangement, military and political, that's no longer there. Some point I'm going to do something else. As a writer, you need to walk a lot of different streets, in a lot of different ways, to know this stuff. Even where political will is absent, even where there are strong disincentives to change, things come along and make it happen.

Shares of WWE fell in premarket trading, while Endeavor shares rose. Ari Emanuel will act as chief executive of both Endeavor and the new company, the companies said. McMahon, likewise, will be executive chairman, while Endeavor President and COO Mark Shapiro will also work in the same roles at the new company. Dana White will remain as president of UFC, and WWE CEO Nick Khan will stay on as president of the wrestling business. Stefanie Keenan | Getty Images Entertainment | Getty ImagesThe announcement confirmed an earlier CNBC report.

☆ Ex-fugitive in fraud scheme tied to $100 million NJ deli willing to pay millions for bail
▼ + stars: | 2023-03-16 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

Watching from the gallery was Coker's mother, Susan, and his father, Peter Coker Sr., 80, who is also a defendant in the case. "He looks good," Susan Coker told her son's lawyers, John Azzaerello and Bill McGovern, afterward. Coker Jr. is "pretty much willing to stake every nickel he has" to be released on bond, Azzarello said. After the hearing, Azzarello told CNBC, "I don't think this case, by any means, requires pretrial detention." Coker Sr. and Patten, who were arrested in September after a grand jury indicted them and Coker Jr. on 12 criminal counts, each remain free on $100,000 bond.

The film dominated nominations for major categories, showing up in the fields of best picture, best director, best actress, best supporting actress, best supporting actor and best original screenplay. Throughout the awards season, "Everything Everywhere All at Once" has snared wins for acting, directing and best picture from various groups. Many expect it to sweep best picture, best director, best actress and best original screenplay. Yeoh, 60, is the first Asian-identifying woman nominated for best actress. Ana De Armas is the first Cuban actress to be nominated for best actress for her role as Marilyn Monroe in Netflix movie "Blonde."

Kickoff for Super Bowl LVII is at 6:30 p.m. The Super Bowl is advertising's biggest stage, with companies jockeying for a limited supply of spots to get their products in front of millions of consumers' eyeballs. Fox said it raked in a record amount of Super Bowl ad revenue this year. Absent this year will be crypto companies. Last year, four cryptocurrency companies shelled out millions for commercial spots during the big game.

☆ National Enquirer sold to group that includes indicted ex-MoviePass chairman
▼ + stars: | 2023-02-06 | by ( Mike Calia | ) www.cnbc.com time to read: +1 min

In this photo illustration, celebrity gossip dominates the cover of a National Enquirer magazine on April 11, 2019 in Chicago, Illinois. The National Enquirer, the tabloid at the center of many controveries involving former President Donald Trump, will be sold to a joint venture involving Theodore Farnsworth, the former MoviePass chairman who has been criminally charged with securities fraud. The Enquirer's parent company, a360 Media, agreed to sell the publication – along with other tabloid brands the National Examiner, the Globe and the National Enquirer UK – to VVIP Ventures, a joint venture made up of Vinco Ventures and Icon Publishing, the companies said Monday. The deal's price wasn't disclosed, but Farnsworth, the founder of Icon Publishing, told The New York Times that it was a little under $100 million. The National Enquirer has been on the block for about four years.

☆ Nordstrom stock surges after report says activist investor Ryan Cohen bought a stake
▼ + stars: | 2023-02-03 | by ( Mike Calia | ) www.cnbc.com time to read: +2 min

Shares of Nordstrom surged Friday morning following news that activist investor and meme stock maven Ryan Cohen bought a stake in the high-end department store company. The Journal said Cohen is now one of Nordstrom's top five nonfamily shareholders. Cohen, who founded pet retail and health site Chewy , is considered a champion of the meme stock crowd. He also triggered a brief rally in Bed Bath & Beyond last year before he ultimately dumped out of the stock. Bed Bath is expected to file for bankruptcy protection any day now.

☆ 5 things to know before the stock market opens Monday, January 30
▼ + stars: | 2023-01-30 | by ( Mike Calia | ) www.cnbc.com time to read: +4 min

This week it will run into some big tests, given the earnings schedule dominated by big tech names (more on that below) and the Federal Reserve's next moves. Here's a look at the earnings week ahead: Tuesday: General Motors McDonald's UPS Pfizer Spotify Snap AMDWednesday: Peloton MetaThursday: Apple Alphabet Amazon Ford Starbucks Qualcomm3. Renault aims to cut Nissan stakeRenault and Nissan automobile logos are pictured during the Brussels Motor Show on January 9, 2020 in Brussels. France's Renault and Japan's Nissan have agreed to restructure their agreement, which they struck in 1999. The overall health and size of its business allows it to mix things up and try new things.

☆ 5 things to know before the stock market opens Thursday, January 5
▼ + stars: | 2023-01-05 | by ( Mike Calia | ) www.cnbc.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange during morning trading on January 04, 2023 in New York City. Chewing things overU.S. stock markets bounced back a little Wednesday, with the S&P 500 rising 0.75%, the Nasdaq increasing 0.69% and the Dow jumping 133 points. December's jobs report is coming Friday morning, as well, so market watchers still have another big data point to chew over this week. Amazon plans bigger job cutsAmazon CEO Andy Jassy speaks during the GeekWire Summit in Seattle on Oct. 5, 2021. David Ryder | Bloomberg | Getty ImagesAmazon plans to lay off more than 18,000 employees, far more than initially expected.

☆ Buy this one large-cap stock — because its CEO is a 'significant visionary,' strategist says
▼ + stars: | 2022-11-24 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

There's one large-cap stock that investors should look into right now, according to Rob Luna, chief investment strategist at asset management firm Surevest. That's Disney , which just saw the surprising return of Bob Iger as CEO , ousting Bob Chapek. "Bob Iger is arguably probably the best CEO of the last two decades — what he's done with Disney. Still, Luna says, "with Iger back, I anticipate this stock will be back on track very soon." 'Best in breed' small-cap stocks Though Luna's Disney pick is a large-cap stock, his general advice for investors is to move from big names to smaller ones.

Law enforcement work the scene of a mass shooting at a Walmart, Wednesday, Nov. 23, 2022, in Chesapeake, Va. A Walmart night crew supervisor killed six people Tuesday night before taking his own life at the Walmart Supercenter in Chesapeake, Virginia, police said Wednesday. The gunman – identified as Andre Bing, 31, of Chesapeake – was a disgruntled employee, a senior law enforcement official told NBC News. The Chesapeake store will remain closed as authorities investigate the shooting. Other Walmart stores have been the scenes of deadly shootings.

Disney, in a shocking late Sunday announcement, said it had re-appointed Iger as chief executive, effective immediately, after Iger’s handpicked successor as CEO, Bob Chapek, came under fire for his management of the entertainment giant. Iger will help the company’s board develop a new successor, Disney said in a release. Chapek was named chief executive in February 2020, succeeding Iger, who had previously said he wouldn’t return to the role. Iger, who held the CEO role for 15 years at Disney, had favored Chapek as his successor. Chapek distanced himself from Iger with a series of decisions, including his new approach to streaming prices for Disney+, Hulu and ESPN+.

☆ Paramount scraps deal to sell Simon & Schuster to Penguin after weeks after judge rejected merger
▼ + stars: | 2022-11-21 | by ( Mike Calia | ) www.cnbc.com time to read: +2 min

The U.S. Department of Justice is suing Penguin Random House and Simon & Schuster to block the companies from completing a merger valued at $2.175 billion. Paramount Global said Monday it scrapped its $2.2 billion deal to sell book publisher Simon & Schuster to rival Penguin Random House, weeks after a federal judge rejected the merger. Penguin, which is owned by German media conglomerate Bertelsmann, said it still believes Simon & Schuster is a good fit for its business, but that it accepted Paramount's decision. Paramount also indicated that it would still seek to unload Simon & Schuster. "Simon & Schuster is a highly valuable business with a recent record of strong performance," Paramount said.

☆ Disney shares rise after Iger replaces Chapek as CEO
▼ + stars: | 2022-11-21 | by ( Mike Calia | ) www.cnbc.com time to read: +1 min

Shares of Disney popped in premarket trade Monday, the morning after the company announced it had replaced CEO Bob Chapek with Bob Iger. As of Friday's close, the company's shares had fallen about 40% so far this year. Its most recently quarterly earnings report, which hit earlier this month, arrived with a thud, sending the company's shares down dramatically. Three days after that report, Chapek told his lieutenants in a memo that Disney would seek to cut costs through hiring freezes, layoffs and other means. Since then, Disney's shares have tumbled.

Disney , in a shocking late Sunday announcement, said it had re-appointed Iger as chief executive, effective immediately, after Iger's handpicked successor as CEO, Bob Chapek, came under fire for his management of the entertainment giant. Iger will help the company's board develop a new successor, Disney said in a release. Chapek was named chief executive in February 2020, succeeding Iger, who had previously said he wouldn't return to the role. Iger, who held the CEO role for 15 years at Disney, had favored Chapek as his successor. Chapek distanced himself from Iger with a series of decisions, including his new approach to streaming prices for Disney+, Hulu and ESPN+.

☆ Trump Media merger partner loses board member days before pivotal shareholder meeting
▼ + stars: | 2022-11-17 | by ( Mike Calia | ) www.cnbc.com time to read: +3 min

The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022. DWAC's CEO, Patrick Orlando, has adjourned the meeting multiple times in recent months as he seeks shareholder approval to delay his company's merger with Trump Media and Technology Group, which owns the Truth Social app, by about a year. Will Wilkerson, a former Trump Media executive, turned over documents to the Securities and Exchange Commission and filed a whistleblower complaint, claiming misrepresentations by the companies. Trump Media has also blamed regulators for the delay of its merger with DWAC. He has about 4 million followers on Truth Social.

☆ WWE ends investigation into alleged misconduct by Vince McMahon
▼ + stars: | 2022-11-02 | by ( Mike Calia | ) www.cnbc.com time to read: +1 min

World Wrestling Entertainment said Wednesday that a special committee investigating alleged misconduct and secret payments by former CEO Vince McMahon had disbanded. "The Special Committee investigation is now complete and the Special Committee has been disbanded," the company said in a securities filing. "Management is working with the Board of Directors to implement the recommendations of the Special Committee related to the investigation." McMahon is still the biggest shareholder in WWE, and his daughter, Stephanie McMahon, is co-CEO. Almost $15 million were paid to settle sexual misconduct allegations from four women against McMahon over the past 16 years.

☆ Audiences are still discovering John Carpenter's cult classic 'Prince of Darkness' 35 years later
▼ + stars: | 2022-10-29 | by ( Mike Calia | ) www.cnbc.com time to read: +2 min

John Carpenter is the king of Halloween. A lucrative new trilogy of "Halloween" sequels to his 1978 original just wrapped up with "Halloween Ends," which Carpenter helped score and executive produce. But this year, one of Carpenter's more obscure movies, "Prince of Darkness," which teems with insects and metaphysical dread, is having a moment and finding new audiences. The movie's 35th anniversary was just last weekend, in the heart of the peak time for scary movies. That's quite a turnaround for "Prince of Darkness," which critics panned when it was released in 1987.

☆ Ye escorted out of Skechers office in Los Angeles after he showed up unannounced
▼ + stars: | 2022-10-26 | by ( Mike Calia | ) www.cnbc.com time to read: 1 min

Rapper Kanye West smiles during a meeting with U.S. President Donald Trump to discuss criminal justice reform at the White House in Washington, October 11, 2018. Ye, formerly known as Kanye West, was escorted out of the Los Angeles office of shoemaker Skechers , the company said Wednesday afternoon, as the fallen rapper and fashion mogul continues to face fallout from his recent antisemitic remarks. Ye showed up unannounced and was escorted out of the building by two executives, the company said. Ye has officially changed his name from Kanye West. "The Company would like to again stress that West showed up unannounced and uninvited to Skechers corporate offices."

Former President Donald Trump's media company fired an executive Thursday after he shared internal documents from a Securities and Exchange Commission whistleblower complaint with The Washington Post and spoke with the newspaper, the news outlet reported Saturday. In the article, he also described strife within Trump Media, including tension with CEO Devin Nunes, who, as a Republican congressman, was one of Trump's most loyal defenders. Digital World Acquisition Corp. , the SPAC seeking to take the media company public, didn't immediately respond to a request for comment. Trump Media fired Wilkerson for making "unauthorized disclosures" to the Post, the newspaper said. The report comes as DWAC pushes its shareholders to vote to delay its planned merger with Trump Media, which was announced last year.

☆ Beyond Meat exec Doug Ramsey leaves company after arrest for allegedly biting man’s nose
▼ + stars: | 2022-10-14 | by ( Mike Calia | ) www.nbcnews.com time to read: +1 min

Beyond Meat’s operating chief, Doug Ramsey, left the company Friday, weeks after he was arrested for allegedly biting a man’s nose following a college football game in Arkansas. Police said Ramsey punched through the back windshield of a Subaru after it hit the front tire of Ramsey’s car, according to a police report. Ramsey then allegedly punched the Subaru driver and bit his nose, “ripping the flesh on the tip of the nose,” the report said. Police also said the victim and a witness also claimed Ramsey told the Subaru driver he would kill him. Beyond Meat said Jonathan Nelson, the company’s senior vice president of manufacturing operations, will permanently oversee Beyond’s operations activities.

Rupert Murdoch is in the early stages of exploring whether to put his media companies News Corp. and Fox Corp. back together, according to a person familiar with the matter. Fox Corp., the leftovers from the $71.3 billion 21st Century Fox sale to Disney in 2019, owns right wing networks Fox News and Fox Business, which is a CNBC competitor. Murdoch, 91, split Fox and News Corp. in 2013. He is the chairman of Fox and the executive chairman of News Corp. His son Lachlan Murdoch is CEO of Fox and co-executive chairman of News Corp. The Murdoch family has a 42% voting stake in Fox and a 39% voting stake in News Corp., according to the Journal.

Beyond Meat Chief Operating Officer Doug Ramsey, who had been suspended following an arrest for assault, has left the company. Ramsey left the company effective Friday, weeks after he was arrested for allegedly biting a man's nose following a college football game in Arkansas, the company said in a regulatory filing. The company had originally suspended Ramsey after the arrest became public last month. Ramsey then allegedly punched the Subaru driver and bit his nose, "ripping the flesh on the tip of the nose," the report said. Police also said the victim and a witness also claimed Ramsey told the Subaru driver he would kill him.

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