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☆ 'Many happy returns': Barclays names 2 global stocks it says has over 100% upside to play right now
▼ + stars: | 2024-05-31 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Shares of British luxury sports car manufacturer Aston Martin are set to rise more than twofold in the next 12 months, according to analysts from Barclays. The investment bank has an overweight rating on the stock at a price target of £300 ($380.79), giving it potential upside of about 116.5% from its closing price of £138.60 on May 30. Aston Martin is listed on the London Stock Exchange under the ticker AML. Shares in Aston Martin are down some 46.5% in the last 12 months. BP Another stock with massive upside potential on Barclays' radar is British oil and gas player BP .

Persons: Aston Martin, defensives, — CNBC's Michael Bloom, Jenni Reid Organizations: Barclays, London Stock Exchange, Aston, BP, London Stock Locations: Aston Martin, U.S, Europe

☆ Trump is a convicted felon. Here's what it means for the former president.
▼ + stars: | 2024-05-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the historic guilty verdict against former President Donald Trump . In a historic verdict, former President Donald Trump was convicted of all 34 criminal counts related to a hush-money payment made to a porn star , write Business Insider's Laura Italiano, Jacob Shamsian, and Natalie Musumeci. AdvertisementIt's the first time a US president has become a convicted felon. This was a rigged trial by a conflicted judge that was corrupt," Trump told reporters in the Manhattan courtroom hallway. Trump told reporters Thursday the "real verdict is going to be November 5 by the people."

Persons: —, Donald Trump, Tyler Le, Laura Italiano, Jacob Shamsian, Natalie Musumeci, Trump, Stormy Daniels, BI's Lloyd Lee, There's, didn't, Chip Somodevilla, Scott Eisen, Joe Biden, Alyssa Powell, Rob Arnott, Bob Elliott, Paul Singer's, Jane Street, Jenny Chang, Rodriguez, Liz Reid, Satya Nadella, Sam Altman, Nadella, Kevin Dietsch, Charles Schwab, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Republican, Trump, NBC, Getty, Wall, Elliott Management, BI, Tech, Sigma, Google, Microsoft, Apple, Big Locations: Giza, Manhattan, Bridgewater, New York, London

☆ Euro zone inflation rises to 2.6% in May, but bloc still seen heading for interest rate cut
▼ + stars: | 2024-05-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Inflation in the euro zone rose to 2.6% in May, statistics agency Eurostat said Friday, but a higher-than-expected print did not sway market bets of an interest rate cut from the European Central Bank next week. Core inflation, excluding the volatile effects of energy, food, alcohol and tobacco, increased to 2.9% from 2.7% in April. The data comes with the ECB widely expected to cut interest rates at its June 6 meeting, the first reduction since 2019. While headline inflation increased in May, fluctuations in the rate have been forecast over the coming months due to base effects from the energy market and the unwinding of government fiscal support schemes across the bloc, . Staff are also due to release their latest round of inflation and growth projections at next week's meeting, providing more clues on the pace and level of potential cuts this year.

Persons: Klaas Knot, Kamil Kovar Organizations: Eurostat, European Central Bank, Reuters, ECB, Staff, Moody's, U.S . Locations: Corfu, Old Town, Greece, London

☆ How to make money from medical research and donations
▼ + stars: | 2024-05-30 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +7 min

Sell your blood plasmaBags of blood plasma being examined in a laboratory. During plasma donation, blood is drawn and an automated machine separates the plasma from other blood components, which are returned to the donor. Plasma donation pay varies from site to site, but the average payout is typically around $50 per donation. During the egg donation cycle, patients are injected with fertility drugs so that the ovaries make more mature eggs than normal. For example, here's a list of the most recent paid research studies offered by New York University.

Persons: —, Weill, You'll, what's, Carolina Reid, Stacy Thacker Organizations: Service, Business, Weill Cornell, of California, NASA, US Air Force Reserve, Institutes of Health, US Food and Drug Administration, New York University, NYU, Associated Press, Science Locations: United States, Houston , Texas

☆ Europe stocks set for another lower open as global sentiment sours ahead of inflation data
▼ + stars: | 2024-05-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

European stocks are on course for a lower open Thursday, continuing a negative trend this week as global markets come under pressure from rising bond yields. Equity market gloom has been mirrored globally, as expectations that interest rates will be higher for longer have driven up bond yields — generally a harmful move for stocks. First to release will be the euro zone, amid uncertainty over how how many times the European Central Bank will cut interest rates this year beyond its expected first cut at its June meeting next week. That will be followed by the U.S. personal consumption expenditures price index report, the Federal Reserve's preferred inflation gauge. The minutes from the Fed's most recent meeting and recent comments from policymakers have seen money markets fully price in just one rate cut from the world's biggest central bank this year.

Organizations: Equity, European Central Bank, U.S, Federal Locations: Asia, Pacific

Over recent years, few companies have provoked more anger among music fans than Ticketmaster. Last week, the Department of Justice announced it was taking the business to court. David McCabe, who covers technology policy for The Times, explains how the case could reshape America’s multibillion-dollar live music industry.

Persons: David McCabe Organizations: Ticketmaster, Department of Justice, The Times

☆ Europe stocks set to extend losses after worst session for a month
▼ + stars: | 2024-05-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

European stock markets are heading for a lower open on Wednesday following the worst session for a month. The benchmark Stoxx 600 dropped 0.6% on Tuesday, its steepest loss since April 30, as investors focus on the interest rate outlook and monitor rising global bond yields. European marketsA solid crop of first-quarter and full-year earnings has put the Stoxx on course for a monthly gain. "Earnings season was generally better than feared," Marcus Morris-Eyton, portfolio manager for Europe and global growth at AllianceBernstein, told CNBC's "Squawk Box Europe" on Tuesday. "51% of companies beat expectations, but actually two thirds of companies beat or met expectations, and when you dig beneath the surface what is particularly interesting is the margin strength across European companies during the quarter," Morris-Eyton said.

Persons: Marcus Morris, CNBC's, Morris, Eyton Locations: Europe, AllianceBernstein

☆ European Central Bank’s Knot says monetary policy to ease ‘gradually,' as markets brace for June rate cut
▼ + stars: | 2024-05-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Klaas Knot, president of De Nederlandsche Bank NV, on the sidelines of the Group of 20 (G-20) finance ministers and central bank governors meeting in Gandhinagar, India, on Tuesday, July 18, 2023. Bloomberg | Bloomberg | Getty ImagesLONDON — European Central Bank Governing Council member Klaas Knot said it would "soon" be time to ease monetary policy in the region, but cautioned that the process would need to be done slowly to keep inflation in check. "It can soon be appropriate to ease the currently restrictive monetary policy stance and gradually take our foot off the brake ... policy rates will slowly but gradually move into less restrictive levels," Knot, head of the central bank of the Netherlands, said at the Barclays-CEPR International Monetary Policy Forum in London Tuesday. In a Reuters poll of 82 economists this week, all said they expected a June cut. Knot, usually known for his more hawkish stance, said Tuesday there had been "clear disinflation" since the peak above 10% in late 2022, particularly in goods inflation.

Persons: Klaas Knot Organizations: De Nederlandsche Bank, Bloomberg, Getty, Central Bank Governing, Barclays, CEPR, Monetary, ECB, U.S . Federal Reserve, Bank of England, Reuters Locations: Gandhinagar, India, Netherlands, London

☆ If Trump Is Convicted, How Will Biden’s Team Go on the Attack?
▼ + stars: | 2024-05-28 | by ( Reid J. Epstein | Nicholas Nehamas | ) www.nytimes.com time to read: +1 min

Normally, seeing your presidential opponent convicted of a felony would be a cause for celebration. At the same time, many Democrats are aghast at the idea that Mr. Trump could become a felon and the Biden campaign would not do everything in its power to remind voters of that fact. This tension will define the Democratic reaction if a Manhattan jury indeed convicts Mr. Trump in the coming days, an outcome that could land like a thunderbolt for the nation’s news media and political class. On Tuesday, the Biden campaign flashed its hand, holding a news conference outside the Manhattan courthouse where Mr. Trump is standing trial that featured Robert De Niro and two former U.S. Capitol Police officers. The Trump campaign was quick to accuse Mr. Biden of pulling a political stunt.

Persons: Biden’s, Donald J, Trump, Biden, Robert De Niro, Mr Organizations: North Star, U.S . Capitol Police Locations: New York, Manhattan

After first ignoring former President Donald J. Trump’s criminal trial, then beginning to make sly insinuations about how he was “free on Wednesdays,” the court’s day off, President Biden’s campaign has jumped in with a stunt designed to emphasize the unprecedented situation of a major party’s presidential candidate awaiting a felony verdict. The Biden campaign on Tuesday held a news conference outside the Manhattan courthouse with Robert De Niro, the actor whose voice narrates the campaign’s latest ad, as well as Harry Dunn and Michael Fanone, two former U.S. Capitol Police officers who have attacked Mr. Trump over his role in the Capitol riot on Jan. 6, 2021. Mr. De Niro said that Mr. Trump had engaged in a “coward’s violence” after the 2020 election. “He directs the mob to do his dirty work for him,” he said. The news conference was the sort of thing the Trump campaign would have done from the beginning if the political situation were reversed.

Persons: Donald J, Biden’s, Biden, Robert De Niro, Harry Dunn, Michael Fanone, Trump, De Niro, ” Organizations: U.S . Capitol Police Locations: Manhattan

Mr. De Niro said that Mr. Trump had engaged in a “coward’s violence” after the 2020 election. The news conference was the sort of thing the Trump campaign would have done from the beginning if the political situation were reversed. The Biden campaign has rarely discussed that case or the verdict against Mr. Trump. Mr. Trump has sought to tie together all four of his pending criminal cases and has argued baselessly that Mr. Biden is behind them all. Steven Cheung, a Trump campaign spokesman, said the Biden campaign was “making a political mockery” of the criminal case with its appearance.

Persons: Donald J, Biden’s, Biden, Robert De Niro, Harry Dunn, Michael Fanone, Trump, De Niro, ”, surrogates, Trump’s, —, Jean Carroll, Carroll, The Biden, “, Mr, “ We’re, ” Michael Tyler, Jason Miller, De, Steven Cheung, Karoline Leavitt Organizations: U.S . Capitol Police, Mr, Capitol Police, Biden Locations: Manhattan, Trump’s Manhattan, Georgia

☆ More than 100 business leaders including Wikipedia's Jimmy Wales sign open letter backing Britain's center-left opposition
▼ + stars: | 2024-05-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Labour's Shadow Chancellor of the Exchequer Rachel Reeves gives a speech on the British economy ahead of the Bank of England monetary policy release on May 07, 2024 in London, England. LONDON — More than 100 business leaders on Tuesday voiced their support for the U.K.'s center-left opposition Labour Party, nearly five weeks before the country heads to the polls. The group, which includes Wikipedia founder Jimmy Wales and former vice-chairman of JP Morgan Cazenove Charles Harman, said in an open letter to The Times newspaper: "We, as leaders and investors in British business, believe it is time for a change." The writers of the letter claim that the U.K. economy has suffered from a decade of stagnation amid a lack of both political stability and a long-term, consistent economic strategy. The Labour Party has "shown it has changed and wants to work with business to achieve the UK's full economic potential," they said.

Persons: Rachel Reeves, Jimmy Wales, JP Morgan, Charles Harman, Karen Blackett, Andrew Higginson Organizations: Bank of, Labour Party, The Times, WPP, JD Sports, British Retail, Tesco Bank, Heathrow Airport Locations: Bank of England, London, England

☆ Treasury yields dip ahead of consumer confidence and inflation data
▼ + stars: | 2024-05-28 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

U.S. Treasury yields were slightly lower early Tuesday at the start of a shortened trading week, as investors await fresh data releases on consumer confidence and inflation. The 10-year Treasury yield slipped 2 basis points to 4.449%, while the 2-year Treasury yield was down 2 basis points at 4.927%. Yields and prices move in opposite directions. One basis point equals 0.01%.

Organizations: Treasury

☆ History shows how a UK election can impact the country's stock market
▼ + stars: | 2024-05-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Labour leader Tony Blair arriving in Downing Street after his election victory with crowds waving flags in the background, 2nd May 1997. The more domestically-oriented FTSE 250 has tended to outperform the FTSE 100 following elections, with stronger outperformance following Labour victories, it said. Leon Neal | Getty Images News | Getty ImagesAccording to Capital Economics, the U.K. stock market has faltered on five occasions under past Labour governments. Higgins also observed that the relative performance of U.K. stocks has "generally been underwhelming since 2010," when the Conservatives took office. Three could be attributed to the "unsustainability of fixed exchange rate regimes" between the 1930s and 1970s, one to the Great Financial Crisis, and the fifth to the 1976 Debt Crisis, he said.

Persons: Tony Blair, Jeff, Rishi Sunak, Rachel Reeves, Sir Keir Starmer, Angela Rayner, Leon Neal, John Higgins, Higgins, Labour's, Keir Starmer, Reeves, Venkatakrishnan, Liz Truss, Sunak Organizations: BBC News, Current Affairs, Labour Party, Labour, Conservative Party, Citi, Conservative, Centre, Getty, Capital Economics, Conservatives, Shadow, Economic, Barclays, C.S, CNBC Locations: Downing, Purfleet, United Kingdom, Davos

☆ British retail sales plunge 2.3% in April, missing estimates
▼ + stars: | 2024-05-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

People walk in the rain over the London Bridge in central London on March 12, 2024. Lucy North - Pa Images | Pa Images | Getty ImagesLONDON — U.K. retail sales volumes dropped 2.3% in April as wet weather deterred shoppers, the Office for National Statistics said Friday. "Sales volumes fell across most sectors, with clothing retailers, sports equipment, games and toys stores, and furniture stores doing badly as poor weather reduced footfall," the ONS said. Sales were up 0.7% across the three months to April compared to the previous three months following a weak December and holiday season, but were down 0.8% year on year. watch nowKris Hamer, director of insight at the British Retail Consortium, pointed to bright spots in the data in cosmetics and computer sales.

Persons: Lucy North, Kris Hamer, Hamer, GfK Organizations: National Statistics, Reuters, British Retail Consortium, Bank of England's Locations: London

☆ European stocks follow global markets lower as interest rate outlook weighs on sentiment
▼ + stars: | 2024-05-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The logo of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, on Thursday, July 6, 2023. OPEC countries will hold a separate videoconference meeting that same day. OPEC+ was previously set to meet on June 1 in Vienna. The influential oil producers' alliance is currently slated to continue cutting 2 million barrels per day of crude output until the end of this year, under its formal policy. Market participants are closely watching whether these second-quarter voluntary cuts will be extended, while supply security concerns linger amid ongoing conflict in the oil-rich Middle East.

Persons: Nymex Organizations: Organization of, Petroleum, of, Coalition, CNBC, Saudi, Brent Locations: Vienna, Austria, OPEC, Saudi Arabia, Russia, London

☆ Biden to welcome Super Bowl winning Kansas City Chiefs to the White House next week
▼ + stars: | 2024-05-24 | by ( Donald Judd | ) edition.cnn.com time to read: +4 min

Washington CNN —The White House announced Friday that President Joe Biden will welcome the Super Bowl champion Kansas City Chiefs to the White House on May 31 – but it seems unlikely that football’s most famous fan will be in attendance. It’ll be the second visit in as many years for the Chiefs, who are celebrating the first back-to-back Super Bowl championships in two decades. Spe aking to reporters following last year’s visit, quarterback Patrick Mahomes called the trip to the White House “surreal.”“I mean, I’ve never been to Washington, DC. I’ve never even got to see from the outside, seeing the White House or any of the monuments or memorials,” Mahomes told reporters. I don’t have anything beyond that,” she told reporters.

Persons: Joe Biden, It’ll, Taylor Swift, Travis Kelce, Swift, Kelce, Patrick Mahomes, I’ve, ” Mahomes, Harrison Butker, Biden, “, ” Butker, ”, Butker, Isabelle, Andy Reid, Karine Jean, Pierre, it’s, “ I’m, I’m, ” Reid, ” CNN’s Jacob Lev, A.J, Willingham Organizations: Washington CNN, White, Bowl, Kansas City Chiefs, Chiefs, Super, aking, Catholic, America, Benedictine College, ” Press Locations: Europe, Madrid, Lyon, France, Washington, Atchison , Kansas, Butker, America

This week, Karim Khan, the top prosecutor of the International Criminal Court, requested arrest warrants for Israel’s prime minister, Benjamin Netanyahu, and the country’s defense minister, Yoav Gallant. Patrick Kingsley, the Times’s bureau chief in Jerusalem, explains why this may set up a possible showdown between the court and Israel with its biggest ally, the United States.

Persons: Karim Khan, Benjamin Netanyahu, Yoav Gallant, Patrick Kingsley Organizations: Criminal Locations: Jerusalem, Israel, United States

The Haley rationale for backing TrumpAfter months of speculation, Nikki Haley said — in her first appearance since dropping out of the Republican presidential primary — that she would vote for Donald Trump, the man against whom she waged a sometimes scathing campaign. But it may provide cover to prominent donors like Ken Griffin who in recent weeks has suggested that he might come in from the cold and donate to Trump. Deep-pocketed Republicans flocked to Haley during the primary. “I think she is just what we need right now,” Langone said on Fox News. “What Trump put this country through the last three months of his presidency was disgraceful.”But donors are rethinking their aversion to Trump, who handily beat Haley and other rivals and is now leading President Biden in some polls.

Persons: Haley, Nikki Haley, —, Donald Trump, Ken Griffin, Griffin, Paul Singer, Henry Kravis, Barry Sternlicht, Cliff Asness, Stanley Druckenmiller, Ken Langone, Reid Hoffman, wasn’t Trump, Nikki, ” Sternlicht, ” Langone, Trump, Biden, White, Israel Organizations: Trump, Republican, PAC, Elliott Management, KKR, Starwood Capital, AQR Capital Management, Democratic, LinkedIn, Times, Fox News Locations: Gaza

☆ Shock summer election in Britain predicted to deliver 'historic' result
▼ + stars: | 2024-05-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

British Prime Minister Rishi Sunak makes a statement in the rain outside 10 Downing Street, announcing the UK general election will take place on 4 July in London, United Kingdom on May 22, 2024. News of the vote came as a surprise to the public, the media and much of Sunak's own party. 'As good as it gets'Bronwen Maddox, director of Chatham House think tank, said the election date had shocked many Conservatives who thought it would be held nearer to the U.S. election in November. Market bets on an interest rate cut in the summer fell as a result, and it now looks unlikely the central bank will cut on June 20, its last meeting before the election. So if that translates to a general election as well, then that Labour landslide is looking much less certain."

Persons: Rishi Sunak, Sunak, Price, Bronwen Maddox, I'm, Maddox, Rachel Reeves, Sir Keir Starmer, Angela Rayner, Leon Neal, James, Hannah Bunting, CNBC's, Tony Blair, John Major, Bunting, we've Organizations: British, Anadolu, Getty, Conservative Party, Conservatives, Labour Party, Downing, Bank of England, Chatham House, CNBC, Bank of England's, Labour, Centre, University of Exeter Locations: London, United Kingdom, U.K, Europe, Gaza, Rwanda, Purfleet

☆ Harrison Butker: Kansas City Chiefs star Patrick Mahomes defends player following controversial commencement speech
▼ + stars: | 2024-05-23 | by ( Jacob Lev | Wayne Sterling | ) edition.cnn.com time to read: +4 min

“I’ve known him for seven years,” the two-time NFL MVP said after the team’s organized team activities (OTA’s). Mahomes, 28, reiterated that he didn’t “necessarily agree” with what was said when asked what part of Butker’s speech he disagreed with. Mahomes said Butker is a “good person” despite “not necessarily agreeing” with his comments. “Everybody is from different areas, different religions, different races and we all get along. “Harrison Butker gave a speech in his personal capacity.

Persons: Patrick Mahomes, Harrison Butker, Mahomes, “, ” Mahomes, “ We’re, ”, –, Taylor Swift, “ I’m, I’m, Andy Reid, Butker, Ryan Kang, ” Reid, Reid, Roger Goodell, ” Goodell, “ Harrison Butker, Jonathan Beane Organizations: CNN, Kansas City Chiefs, Benedictine College, ” Chiefs, National Football League’s, NFL Locations: Atchison , Kansas, Nashville, America

☆ UK inflation comes in hotter than expected, slashing June rate cut bets
▼ + stars: | 2024-05-22 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

U.K. inflation came in hotter than expected with a drop to 2.3% in April, the Office for National Statistics said Wednesday, prompting traders to pull back from bets on a June interest rate cut from the British central bank. Core inflation, excluding energy, food, alcohol and tobacco, dipped to 3.9% in April from 4.2% in March. A dramatic drop in the headline rate was widely expected because of the year-on-year decline in energy prices. Investors were instead set to focus on core and services inflation, after BOE policymakers indicated they would be willing to cut interest rates some time in the summer, but stressed that the timing would depend on fresh data. Following the print, money markets slashed the probability of a June rate cut to just 15%, down from 50% earlier in the day.

Persons: BOE Organizations: National Statistics, Bank of England's, Reuters Locations: Russia, Ukraine, British, U.K

☆ 'I was too trusting': Ex-Post Office boss apologizes after widespread miscarriage of justice in Britain
▼ + stars: | 2024-05-22 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Former Chief Executive Officer (CEO) of Post Office Limited Paula Vennells (C) arrives to give evidence to the Post Office Horizon IT Inquiry, in central London, on May 22, 2024. The scandal has been described at an ongoing public inquiry as "the worst miscarriage of justice in recent British legal history". The Post Office took 700 people to court between 1999 and 2015 based on faulty evidence resulting from central I.T. Questions remain over what Vennells and other executives knew, all while the Post Office continued to push for sub-postmaster prosecutions. Vennells joined at a time when the Post Office was losing significant amounts of money and was under pressure to improve its financial performance.

Persons: Paula Vennells, Vennells, Martin Griffiths Organizations: Post, Britain's, Fujitsu, Post Office Locations: London, I.T

☆ Britain's inflation rate could be about to drop below the Bank of England's 2% target
▼ + stars: | 2024-05-21 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesLONDON — U.K. inflation could be about to hit a major milestone, with some forecasting that a sharp fall in the April print will take the headline rate below the Bank of England's 2% target. That would represent a plunge from the current level of 3.2% and could "make or break" a June interest rate cut, economists say. Ashley Webb, U.K. economist at Capital Economics, said that if the headline rate does fall below 2% in April, as he expects, it would be "momentous." "This will be crucial in determining whether the first interest rate cut from 5.25% will happen in June (as we expect) or in August. We think inflation will fall further, perhaps even to 1.0% later this year," Webb said in a Friday note.

Persons: Ashley Webb, What's, Webb, —, BOE Governor Andrew Bailey, BOE, Ben Broadbent, James Smith, ING's Organizations: Bloomberg, Getty, Bank of England's, Capital Economics, Bank of England, European Central Bank, ING Locations: Kingston, London, U.K

This month, customers of FTX — Sam Bankman-Fried’s cryptocurrency exchange, which collapsed in 2022 — were told that they would get their money back, with interest. David Yaffe-Bellany, our technology reporter, explains what was behind this change in fortune and what it says about the improbable resurgence of crypto.

Persons: Sam Bankman, —, David Yaffe

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