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☆ Nestlé is releasing a lineup of frozen food for people on Ozempic and other GLP-1 drugs
▼ + stars: | 2024-05-21 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —Nestlé, the maker of frozen food brands like Stouffer’s and DiGiorno, is slimming down with a new line of meals for people taking GLP-1 drugs, such as Ozempic, for weight loss. However, a recent study on Wagovy significantly reduced heart risk in addition to helping with weight loss. An example of Vital Pursuit food. It also made a $100 million-plus deal to buy Sequence, a telehealth business that offers virtual prescriptions to patients for these weight loss drugs where appropriate. Food companies, like Nestlé, are also bracing for GLP-1 consumers to buy fewer sugary snacks and drinks.

Persons: New York CNN — Nestlé, It’s, Morgan, Steve Presley, Neil Saunders, Nestlé, it’s “, Saunders, ”, “ Nestlé, Sesame, WeightWatchers, ” Saunders, CNN’s Nathaniel Meyersohn Organizations: New, New York CNN, North, GlobalData, Lean, CNN, Companies, Costco, Equinox Locations: New York

☆ Why I Quit Goldman Sachs' Rigid, Male-Dominated Culture
▼ + stars: | 2024-05-21 | by ( Lindsay Macmillan | ) www.businessinsider.com time to read: +11 min

The lack of female leadership in the financial industry is nothing new, but many companies have been making strides. But as I watch senior women continue their exodus from Goldman, I'm not sure the company actually wants to change. While many companies have modernized to embrace hybrid and remote work, Goldman has not. Rather than changing its "be in the office every day and grind it out" culture to better suit women, Goldman puts the onus on us to change ourselves to fit the model. But Goldman leadership seems to want the benefits of gender diversity without the hard work of supporting diverse leadership styles.

Persons: Goldman Sachs, —, Dina Powell McCormick, Beth Hammack, Stephanie Cohen, Goldman, I'd, It's, it's, Morgan Stanley, Jamie Dimon, David Solomon, I'm, hadn't, Julia Boorstin, — Goldman, I've, she's, Asahi Pompey, Yassaman Salas, Rebecca Anderton, Davies, Lindsay MacMillan Organizations: Street Journal, Goldman, Citi, JPMorgan, International Workplace, McKinsey, LinkedIn, CNBC, Deloitte, Asahi Locations: Canada, London, New York

☆ Kristin Chenoweth reveals she’s a domestic abuse survivor: ‘I was deeply injured’
▼ + stars: | 2024-05-21 | by ( Lisa Respers France | ) edition.cnn.com time to read: +2 min

CNN —Kristin Chenoweth had a personal reaction to the footage of Sean “Diddy” Combs assaulting his former girlfriend, Cassie Ventura. “Honestly i have my reasons for the Sean Combs video bothering me so much. When a commenter implored Chenoweth to instead “pray for victims’ deliverance, not for evil abusers,” the actor and singer opened up about the intent of her message. Combs‘ decision to settle the lawsuit does not in any way undermine his flat-out denial of the claims. There yall go.”Editor’s Note: If you or someone you know is struggling with intimate partner violence, there are resources available, including the National Domestic Violence Hotline.

Persons: CNN — Kristin Chenoweth, Sean “ Diddy ” Combs, Cassie Ventura, Sean Combs, ” Chenoweth, Chenoweth, “, Combs, Ventura, ” Ben Brafman, “ Mr, ”, yall Organizations: CNN

☆ A woman who won a free Virgin Voyages cruise said she would have to spend $8,000 on flights to claim the prize
▼ + stars: | 2024-05-21 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +5 min

Read previewAn Australian woman who won a Virgin Voyages cruise said she and her partner would have to pay a combined $8,000 for flights due to a change in the ship's itinerary. In a video shared to Virgin Voyages' Instagram account in November, a flight attendant FaceTimed with Virgin founder Richard Branson to announce the prize. Advertisement"I am pleased to gift each adult on board a free Virgin Voyages cruise," Branson said. Balkrushna Potdar, a marketing lecturer at the University of Tasmania, told ABC that Morgan's story could potentially damage Virgin Voyages' brand. In September 2023, Virgin Voyages announced it had secured $550 million in funding managed by the Private Equity Group of Ares Management.

Persons: —, Morgan, Richard Branson, Branson, Chris Putnam, Balkrushna, Potdar, Scarlet Lady, Ares Management Organizations: Service, Virgin, Australian Broadcasting Corporation, ABC, Business, Virgin Airlines, Virgin Voyages, Independent, Overseas, Miami, Virgin's PR, BI, Voyages, Virgin Australia Group, University of Tasmania, Private Equity Group, Ares Locations: Melbourne, Tasmania, Australia, New Zealand, Brisbane, Red, Quay, Sydney, Europe, Caribbean, San Juan, Tortola, Basseterre, St, John's, Fort, de, France, Castries, Kingstown, Hobart, Ireland, Scotland, Portsmouth, England

☆ Opinion: We Germans are making Trump ‘thunderstorm’ plans
▼ + stars: | 2024-05-21 | by ( Opinion Anna Sauerbrey | ) edition.cnn.com time to read: +12 min

That’s scary.” If Trump is elected, Jörg is convinced, he would withdraw American troops from Europe and stop aid to Ukraine. Jim Bourg/AFP/Getty ImagesSix months ahead of the vote, this soccer field conversation reflects the German view of the US elections quite well. Kirill Kudryavtsev/AFP/Getty ImagesIt’s an optimistic view, based on the assumption that Trump will act rationally, as a deal-maker, if elected. What if Trump tries to take America out of NATO or creates a “dormant NATO,” a NATO existent only in name? Another Trump presidency would not only put Germany’s security at risk, but also manifest this view of the US for another four years.

Persons: Thomas Ernst Editor’s, Anna Sauerbrey, Read, ’, ”, Jörg, Miguel, Donald Trump, “, “ Trump, Trump, “ I’m, Piero, Joe Biden, Jim Bourg, Europe’s, Russia “, Olaf Scholz, Michael Kappeler, ” Scholz, mums, Annalena Baerbock, Greg Abbott, Biden, Kirill Kudryavtsev, George H, Bush’s, Barack Obama, Obama, Heinz M, Schahina Gambir, Gambir, Roe, Wade, Bob Parent Organizations: Zeit, Berlin CNN —, Köpenicker FC, CNN, Biden, Trump, Getty, NATO, Republican, European Union, European Central Bank, EU, ”, Dallas Mavericks, Mavericks, LA Clippers, NBA, Green, Bundestag Locations: Berlin, America, Taiwan, Europe, Ukraine, Italy, AFP, Gaza, Germany, Russia, United States, Trump, Texas, China, Poland, France, Frankfurt, Kabul, New York City, New York

☆ Here's how Disney’s streaming business can work toward Netflix-like profitability
▼ + stars: | 2024-05-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +14 min

Disney's streaming margins, while still negative due to losses and nowhere near Netflix's, have improved significantly in recent quarters and are now on the doorstep of an important milestone. Disney's streaming overview Disney+ is its flagship streaming service across the globe. The ARPU discrepancy on Disney+ core helps explain why Netflix is much more profitable than Disney's streaming business. Given that Disney's streaming business has rolled out pretty much everywhere across the globe, Cruetz said moving forward "it's about driving more penetration in those markets." The latest is a matchup with Disney and HBO's parent Warner Bros Discovery , whose flagship streaming service is called Max.

Persons: Bob Iger, Disney, Iger, Covid, Morgan Stanley, It's, That's, Cowen, Doug Creutz, Hulu's, Cowen's Cruetz, Brandon Nispel, Cruetz, TD Cowen, Max, Creutz, cannibalization, it's, KeyBanc's Nispel, Wells Fargo, Jim Cramer's, Jim Cramer, Jim, Presley Ann Organizations: Disney, Netflix, ESPN, Reliance Industries, Century Fox, CNBC, Comcast, Capital, Warner Bros Discovery, Getty Locations: Netflix's, Hulu, India, Malaysia, Philippines, Thailand, U.S, Canada, Europe, Africa, West Asia, Los Angeles

☆ Gerard Depardieu accused of attacking ‘the king’ of paparazzi at Harry’s Bar in Rome
▼ + stars: | 2024-05-21 | by ( Barbie Nadeau | ) edition.cnn.com time to read: +4 min

Rome CNN —In a scene reminiscent of La Dolce Vita era, French actor Gerard Depardieu has been accused of attacking celebrity photographer Rino Barillari outside Harry’s Bar on the famed Via Veneto in Rome. Piero Lepore, the owner of Harry’s Bar in Rome, confirmed to CNN that the incident happened, but did not cast blame. This sort of thing never happens here,” Lepore told CNN by telephone. “We are used to celebrities and we are used to paparazzi – they can’t survive without each other. Magda Vavrusova’s lawyer, Delphine Meillet, said in a statement to CNN that it was Barillari who had pushed Vavrusova.

Persons: Rome, Rome CNN —, La Dolce, Gerard Depardieu, Rino, Depardieu, Barillari, ”, Magda Vavrusova, Piero Lepore, Federico Fellini, ” –, Paparazzo, ” Lepore, “, Lepore, Magda Vavrusova’s, Delphine Meillet, Meillet, Vavrusova, ” Meillet, University Policlinico Umberto, Sylvester Stallone, Sharon Stone, Liz Taylor, Frank Sinatra, Depardieu’s, –, Charlotte Arnould Organizations: Rome CNN, Via Veneto, Police, CNN, Rome, University, ” CNN, Paris Locations: Harry’s, Rome, Piazza Navona

☆ Microsoft, Khan Academy provide free AI assistant for all educators in US
▼ + stars: | 2024-05-21 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

Microsoft is partnering with tutoring organization Khan Academy to provide a generative AI assistant to all teachers in the U.S. for free. Khanmigo for Teachers, which helps teachers prepare lessons for class, is free to all educators in the U.S. as of Tuesday, with the financial support of Microsoft. Microsoft and Khan Academy are also planning to provide more AI-powered math tutoring to students through a new open-source small language model from Microsoft's Phi-3 AI technology. The relationship between the tech giant and education nonprofit will also feed back into Microsoft's Copilot AI, with more Khan Academy content added, and Khan content brought into Microsoft Teams for Education, an existing free communication app for students and teachers. Microsoft co-founder Bill Gates recently recommended Khan's new book on AI in education.

Persons: Sal Khan, Sam Altman, Greg Brockman, zeroed, Khan, Nadia, Alan Turing's, Khanmigo, Bill Gates, Gates Organizations: Microsoft, Academy, Khan Academy, CNBC, Khan, CNBC's Technology, Phi, Microsoft Teams, Education Locations: U.S

☆ The only way we would get rate cuts is if something broke, says Ironsides Macroeconomics' Knapp
▼ + stars: | 2024-05-21 | 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 EmailThe only way we would get rate cuts is if something broke, says Ironsides Macroeconomics' KnappBarry Knapp, Ironsides Macroeconomics managing partner and director of research, joins 'Squawk Box' to discuss Knapp's overall investing thesis, what the latest CPI print says about the economy, and more.

Persons: Knapp Barry Knapp Organizations: Ironsides

☆ Deepwater's Gene Munster says today was 'underwhelming' for Microsoft
▼ + stars: | 2024-05-21 | 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 EmailDeepwater's Gene Munster says today was 'underwhelming' for MicrosoftGene Munster, Deepwater Asset Management managing partner, joins 'Closing Bell' to discuss the AI trade and Microsoft's tech event.

Persons: Deepwater's Gene Munster, Microsoft Gene Munster Organizations: Deepwater's, Microsoft, Deepwater Asset Management

☆ Wall Street advisors are flocking to this small law firm to claw back pay from wealth giants like Morgan Stanley and Merrill Lynch
▼ + stars: | 2024-05-21 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

For Ajamie LLP, a Houston law firm with 11 attorneys, taking on banks with billion-dollar war chests is becoming a booming business. This ruling was used by a lawyer on another case, Ohio-based Alan Rosca, to secure a $3 million judgment against Morgan Stanley on March 25. He said he has been contacted by advisors hailing from "really any financial firm that offers deferred compensation to financial advisors." During that suit, Ajamie was contacted by Matt Shafer, the lead plaintiff in the Morgan Stanley case. The Morgan Stanley suit inspired Kelly Milligan, now the named plaintiff in the Merrill Lynch class action, to reach out.

Persons: —, Jack Edwards, Edwards, Morgan Stanley, Morgan Stanley's, Alan Rosca, Merrill Lynch, Sen, Ted Cruz, Wells Fargo, Wells, Ajamie, Matt Shafer, Kelly Milligan, It's Organizations: Service, Ajamie LLP, Business, University of Virginia School of Law, Big Law, RBC Capital Markets, Financial Industry Regulatory Authority Locations: Houston, Ohio, Ajamie, Texas, Carolina

☆ McDonald's franchisee group says $5 value meal can't last without company investment
▼ + stars: | 2024-05-21 | by ( Kate Rogers | ) www.cnbc.com time to read: +3 min

"The fact remains that in order to provide the consumer with more affordable options, they must be affordable for the owner/operators. McDonald's vast resources and financial investment are essential to any sustainable affordable strategy," the board of the National Owners Association wrote in a letter to membership. McDonald's declined to comment on the NOA letter to its membership. In a statement to CNBC last week on the value meal the company said, "We know how much it means to our customers when McDonald's offers meaningful value and communicates it through national advertising. These ideas were initially floated by the advocacy group earlier in the year, as it pushed to add affordable options to the menu without discounting "core and iconic" items.

Persons: McDonald's, That's, NOA, Chris Kempczinski Organizations: National Owners Association, CNBC Locations: Oakland , California

☆ Three-Stock Lunch: JPMorgan, Palo Alto & Lam Research
▼ + stars: | 2024-05-21 | 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 EmailThree-Stock Lunch: JPMorgan, Palo Alto & Lam ResearchVictoria Greene, G Squared Private Wealth founding partner, joins 'Power Lunch' to discuss stock plays for three stocks, including JPMorgan, Palo Alto, and Lam Research.

Persons: Lam Research Victoria Greene Organizations: JPMorgan, Palo, Lam Research, Private Wealth Locations: Palo Alto

☆ Trump VP prospect Doug Burgum and GOP megadonor Harold Hamm are allies in business and politics
▼ + stars: | 2024-05-21 | by ( Brian Schwartz | ) www.cnbc.com time to read: +12 min

Continental Resources donated $1 million to the super PAC in April, according to Federal Election Commission records. A spokeswoman for both Continental Resources and Hamm, its executive chairman, did not respond to a request for comment. All seven wells have been active since 2011, just two years after Burgum's family signed an agreement with Continental Resources. The Burgum Farm Partnership LLP, which oversees the family farm land in Williams County and Cass County, is worth between $500,001 and $1 million, according to the financial disclosure. Doug Burgum is a managing partner of the Burgum Farm Partnership, and he signed the businesses' latest annual report in March.

Persons: Donald Trump, Doug Burgum, Vivek Ramaswamy, Jabin, Harold Hamm, Burgum, Theodore Roosevelt, Sen, Marco Rubio, Rubio, Trump, Hamm, Bradley Burgum, Mike Nowatzki, Nowatzki, Burgum's, He's, Barbara, Edward Hirs, Brandon Bell, Jack Balagia, Ryan Kellog, Kellog, Ted Borrego, —, Virginia Canter, Canter, Chip Somodevilla, he's, Kathryn, Dan Eberhart, Eberhart, Leah Millis Organizations: North Dakota Gov, Margate, Washington Post, Continental Resources, Trump White House, CNBC, Trump, Republican, Trump that's, Inc, Commission, Continental, Federal, North Dakota's Minerals Department, Drilling, LLP, University of Houston, Getty, University of Texas, Exxon Mobil, University of Chicago, University of Houston Law Center, Trump White, North, Canter . North, Burgum Locations: Laconia, NH, Hamm, North Dakota, Williams County, Burgum, Fla, Florida, Dakota, North, Brooklyn, Cass County, Fort Stockton , Texas, Washington, Canter ., Canter . North Dakota, Laconia , New Hampshire, Continental Resources . North Dakota, Pittsburgh , Pennsylvania, U.S

CNBC reached out to the SEC about the recent batch of Wells notices sent to crypto firms, and an agency spokesperson declined to comment. Exchanges, both centralized and decentralized, would be forced to choose between registering with the SEC, or delisting ether altogether. watch nowBoth Consensys and Uniswap suggest the SEC's broad approach to classifying securities may be outdated. "The SEC is arguing that the Uniswap protocol is an unregistered securities exchange, and that the Uniswap interface and wallet are both unregistered broker brokers," Ammori said. Uniswap argues in its response to the SEC that the majority of its trading volume is obvious nonsecurities, like ether, bitcoin and stablecoins.

Persons: Marvin Ammori, “ Ammori, Wells, Consensys, overreach, Joseph Lubin, Lubin, “, —, Christopher Gerold, Laura Brookover, Brookover, ethereum, Bill Hinman, Hinman, Patrick McHenry, Gary, Crypto, haven't, Uniswap, Ammori, there's, Alma Angotti, Guidehouse, Coinbase, We've, Christina Rea, We're, CNBC's Jordan Smith Organizations: Securities and Exchange Commission, Uniswap, SEC, Ethereum Foundation, CNBC, Security, New, New Jersey Bureau of Securities, Consensys, Securities, Exchange Commission's, of Corporation Finance, Rep, Robinhood Locations: U.S, Lubin, New Jersey, ethereum, R

☆ Opinion: Diddy’s apology to Cassie Ventura rings hollow
▼ + stars: | 2024-05-21 | by ( Opinion Jill Filipovic | ) edition.cnn.com time to read: +6 min

He is happy they got to a mutual settlement and wishes Ms. Ventura the best.”Well, now there’s a video. My behavior on that video is inexcusable.”Combs added: “I take full responsibility for my actions in that video. I’m disgusted now.”Here’s the thing, though: Combs had the opportunity to take full responsibility last year, when Cassie filed her claim. Resources for victims of domestic violenceNational Domestic Violence Hotline Call 1-800-799-7233 or text LOVEIS to 22522. If you, or someone you know, is being affected by domestic violence, a worldwide list of directories is provided by UN Women.

Persons: Jill Filipovic, CNN —, Cassie Ventura, “ Cassie ”, Sean “ Diddy ” Combs, Combs, ” Ben Brafman, “ Mr, Ventura, “, ”, ” Combs, I’m, Cassie, Combs ’ Organizations: Twitter, CNN, US, Facebook, UN Locations: New York, ”

☆ Microsoft is now the '800-pound gorilla in AI,' venture capital firm says
▼ + stars: | 2024-05-21 | 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 EmailMicrosoft is now the '800-pound gorilla in AI,' venture capital firm saysAlfred Chuang, general partner at Race Capital, says "50% of the AI market will be highly dominated by them."

Persons: Alfred Chuang Organizations: Microsoft, Race

☆ New York AG announces $2 billion settlement with crypto lender Genesis
▼ + stars: | 2024-05-20 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

New York Attorney General Letitia James is settling with crypto lender Genesis for $2 billion to repay defrauded investors. The lawsuit was broadened in February, alleging that DCG and Genesis defrauded additional investors out of more than $2 billion. Despite a legal challenge brought by parent company DCG, a bankruptcy court approved the lender's Chapter 11 repayment plan, which included the settlement between James' office and Genesis. The settlement bars Genesis from operating in New York. The settlement also established a fund for victims comprising at least 29,000 New York residents who collectively gave more than $1.1 billion to Genesis through its Gemini Earn product.

Persons: Letitia James, James, DCG, Genesis Organizations: New, Digital Currency Group, Gemini Trust, Securities, Exchange Commission Locations: New York

☆ After 15 years, a social media post helps reunite a family with a long-lost heirloom
▼ + stars: | 2024-05-20 | by ( Sydney Bishop | ) edition.cnn.com time to read: +4 min

She knew it had been picked up after her grandmother’s death when the family was going through her belongings, 15 years ago. A bunch of photographs of everybody in the family and all the things that were really special to her.” Bashaw told CNN. “In those photos, there were very good, prominent photos of the family heirloom that I was looking for. Misty Bashaw, Celia's mother, had been looking for the missing heirloom made by her "favorite" uncle Chuck Perkins. Top: April Perkins, Celia's grandmother (left), and Misty Bashaw, Celia's mother, who died in 2008 and 2022, respectively.

Persons: Celia Bashaw, Chuck Perkins, ” Bashaw, hadn’t, Bashaw, Misty Bashaw, Celia Bashaw “, “ It’s, Chris McKirryher, Phil Matte, CNN McKirryher, Matte, “, ”, ” Matte, WCAX, it’s, Perkins, Celia's, Celia Bradshaw “ Organizations: CNN, “, WCAX, Facebook Locations: Vermont, Rutland , Vermont, Pittsford , Vermont, Plattsburgh , New York, Bashaw

☆ I bought my first home this year: 7 things I wish I'd done before getting serious about my search
▼ + stars: | 2024-05-20 | by ( Celia Fernandez | ) www.cnbc.com time to read: +9 min

When my partner and I signed a two-year lease to move into our second New York City apartment together in 2021, we agreed that the next place we lived in would be ours. New York City is where I grew up, and I am not ready to give up my status as a "passenger princess" — yes, I'm 31 and don't have a driver's license. "There are four things that go into getting a mortgage: your credit, your income, your assets, and the property," Forbes says. The application process for a program like the New York City HomeFirst Down Payment Assistance Program or the NYS AHC grant can take several months. My partner and I bought a co-op, which is very common in New York City.

Persons: We've, Dave Forbes, Forbes, you've, Z, Gen Zers, millennials, wouldn't Organizations: New, Chase, NYS, Qualtrics, National Association of Housing Cooperatives, Rocket Mortgage Locations: New York City, Riverdale, Bronx , New York, Manhattan, Midtown, New York State, New York, That's, millennials, .

☆ I didn't know what 'MILF' meant until a few years ago, but I embraced the label when I started dating younger men on reality TV
▼ + stars: | 2024-05-20 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +5 min

This as-told-to essay is based on a conversation with Christina Best about her experience as a contestant on TLC's "MILF Manor," one of 2023's most talked-about new reality shows. A younger guy came up and was like, "You're such a MILF," and I'm like, "What is that?" I did my audition for "MILF Manor" and they loved it. I did not really know much about what it entailed, but I was asked if I had dated younger. Hot guy, hot girl, there's chemistry, why not?

Persons: Christina Best, TLC's, who's, I'm, —, She's, I've, it's, Joey, Christina, he's Organizations: MILF Locations: I'm, Canada

☆ A single mom of 3 shares how she co-parents. Communication and planning are key, especially when you don't see eye-to-eye.
▼ + stars: | 2024-05-20 | by ( Jane Ridley | ) www.businessinsider.com time to read: +4 min

Read previewAngela Marie Christian was in a quandary when the father of her eldest daughter wanted to take the then 12-year-old to the Dominican Republic with his family. The decision caused a lot of upset because the child wanted to go to the Caribbean just as much as her dad and his relatives wanted her there. Six years on, with the benefit of hindsight, the mom said she could have handled the situation differently. "I thought that, instead of being about me and how I felt, it was about really considering the child," the mom said. For example, she said that her middle daughter usually spends Thanksgiving at her dad's house and Christmas at her mom's every year.

Persons: —, Angela Marie Christian, Christian, wouldn't, she'd Organizations: Service, Business Locations: Dominican Republic, Caribbean, Costa Rica

☆ Nasdaq notches another record close
▼ + stars: | 2024-05-20 | 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 EmailNasdaq notches another record closeKara Murphy, Kestra Investment Management CIO, and Brooke May, Evans May Wealth managing partner, join 'Closing Bell Overtime' to talk the day's market action after another record day for the Nasdaq.

Persons: Kara Murphy, Brooke May, Evans Organizations: Kestra Investment Management, Wealth, Nasdaq

☆ What the Death of Iran’s President Raisi Means for His Country, and the World - The New York Times
▼ + stars: | 2024-05-20 | by ( Reuel Marc Gerecht | Ray Takeyh | ) www.nytimes.com time to read: +2 min

Iran’s Supreme Leader Ali Khamenei has not always seen eye to eye with his country’s presidents. Mr. Raisi was a revolutionary with an ideologue’s integrity. Despite this deep experience and loyalty, it wasn’t clear that Mr. Raisi would be a suitable successor to Mr. Khamenei, a development many observers and Iranians feared. Mr. Raisi only possessed the last. But even if his ascension was uncertain, Mr. Khamenei still relied upon the cleric to help manage the coming transition: Mr. Raisi was reportedly part of a three-man committee vested with the responsibility to choose the next supreme leader.

Persons: Ali Khamenei, Akbar Hashemi, Rafsanjani, Mohammad Khatami, Mahmoud Ahmadinejad, Hassan, Ebrahim Raisi, Mr, Khamenei, Raisi Organizations: Iran’s Locations: Islamic Republic

☆ Didi co-founder Liu steps down after decade at the helm of Chinese ride-hailing company
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: +2 min

Didi Global, the Chinese ride-hailing company, must face a lawsuit in a U.S. court claiming it defrauded investors by concealing and disobeying a Chinese government order to postpone its 2021 initial public offering until it resolved cybersecurity and privacy concerns. Didi Global 's co-founder Jean Liu has stepped down from her roles as president and board director of China's biggest ride-hailing firm to take on a new role, according to an internal company memo. Didi, which is seen as China's answer to Uber but has faced prolonged regulatory scrutiny, will no longer have a position of president, it said in the memo seen by Reuters. The company was penalized with a $1.2 billion fine in July 2022 over data security violations. Didi began to recover from its regulatory challenges in early 2023 when it received permission to relaunch its apps.

Persons: Didi Global, Jean Liu, Didi, Liu, Goldman Sachs, Will Cheng, Liu Chuanzhi Organizations: Reuters, Lenovo, Alibaba, Uber, Apple, U.S Locations: U.S, China

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