DIRS.INFO The most relevant business & tech news

— Warren Buffett's annual shopping event, the pregame to Berkshire Hathaway 's annual meeting, is wowing shareholders flocking here this weekend. JazwaresSquishmallow pit at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nevada on May 3, 2024. Sarah Min | CNBCSome highlights include the latest Squishmallows toys for Buffett and Charlie Munger, a splashy Squishmallows pit, as well as other displays. Poor Charlie's AlmanackCharles Munger remembrance ahead of the Berkshire Hathaway Annual Shareholders Meeting at Omaha, Nevada on May 3, 2024. Sarah Min | CNBCThe Bookworm only had one book to sell this year: "Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T.

Persons: Warren Buffett, Charlie Munger, Sarah Min, — Warren, Berkshire Hathaway, Brooks, Buffett, Charles Munger, Charles T, Munger, Haslam, Warren Buffett's Berkshire Hathaway, CNBC Brooks Organizations: Berkshire Hathaway, CNBC OMAHA, Berkshire, CHI, CNBC, CNBC Jazwares, Berkshire Hathaway's, FlightSafety, CNBC Berkshire, Travel Centers, Procter & Gamble Locations: Omaha , Nebraska, Neb, Omaha , Nevada, Berkshire, North America, Brooks, Queen

☆ Peloton CEO Barry McCarthy to step down, company to lay off 15% of staff as it looks to refinance debt
▼ + stars: | 2024-05-02 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +9 min

In a letter to staff, McCarthy said the company needed to implement layoffs because it wouldn't be able to generate sustainable free cash flow with its current cost structure. "Achieving positive [free cash flow] makes Peloton a more attractive borrower, which is important as the company turns its attention to the necessary task of successfully refinancing its debt," McCarthy said in the memo. McCarthy had also expected Peloton to reach positive free cash flow by June — a goal the company said it reached early during its third quarter. In a letter to shareholders, Peloton said it generated $8.6 million in free cash flow but it's unclear how sustainable that number is. The company didn't provide specific guidance on what investors can expect with free cash flow in the quarters ahead but said it does expect to "deliver modest positive free cash flow" in its current quarter.

Persons: Barry McCarthy, McCarthy, Karen Boone, Chris Bruzzo, Jay Hoag, It's, John Foley, hasn't, Goldman Sachs, Boone, Barry, Bruzzo, —, hadn't, Creditsafe, it's, Foley Organizations: Interactive, Allen & Company Sun Valley Conference, Spotify, Netflix, JPMorgan, LSEG, outperformance, CNBC Locations: Sun Valley , Idaho, lockstep

☆ Mark Zuckerberg thinks AI is Meta's future. Not everyone is convinced.
▼ + stars: | 2024-04-25 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

AdvertisementNot everyone is on board with Mark Zuckerberg's AI enthusiasm. Related storiesThat slide shows that investors' tolerance for huge AI spending without clear revenue gains might be beginning to wane. Zuckerberg's also been praised for some of his strategies around Meta's AI development, including the decision to open-source models and stockpile GPUs. While Meta's AI products, including Llama 3, have been generally well received, the company is not selling any version of its newest AI model, which is largely open source. Zuckerberg's newest AI model even received a nod of approval from old rival Elon Musk.

Persons: Mark Zuckerberg, —, Mark, Zuckerberg, he'd, Zuckerberg's, we've, Meta, OpenAI, Elon Musk, It's, he's Organizations: Service, Big Tech, Google, Microsoft, Meta, Facebook, Business

☆ How the House GOP’s Biden impeachment effort fell apart
▼ + stars: | 2024-04-24 | by ( Annie Grayer | Melanie Zanona | ) edition.cnn.com time to read: +14 min

“To me, success is impeachment from the House,” GOP Rep. Brian Mast said. Comer’s co-leads, House Judiciary Chairman Jim Jordan and House Ways and Means Chairman Jason Smith, are also fully behind the work. I don’t think that’s an impeachable offense,” GOP Rep. Jodey Arrington said. Even GOP Rep. Darrell Issa remarked after the first hour of questioning that Hunter Biden was prepared for the interview. There’s an election in seven months from now,” GOP Rep. Nick LaLota, who represents a New York district Biden won in 2020, told CNN.

Persons: James Comer, Joe Biden, –, Comer, Biden, “ Comer, Jesus, Alejandro Mayorkas, Comer –, “, Anna Paulina Luna –, Hunter Biden, it’s, ” Luna, ”, missteps, Brian Mast, Mike Johnson, Comer’s, Jim Jordan, Jason Smith, ” Johnson, Steve Scalise, Elise Stefanik, Kevin McCarthy, ” Bruce Dubinsky, McCarthy, Samuel Corum, Johnson, Jodey Arrington, Darrell Issa, …, Doug LaMalfa, Mayorkas, Tony Gonzales, Austin Scott, ” Comer, Donald Trump, Jordan, doesn’t, There’s, Nick LaLota, Jamie Raskin, Raskin Organizations: Washington CNN —, Republican, CNN, Kentucky Republican, Homeland, Biden, GOP, Republicans, Getty, White, Democratic, ”, Department of Justice Locations: Kentucky, ”, Washington , DC, –, Texas, New York

☆ The Maya Train Will Get You to All of Yucatán’s Best Spots. But Not Yet.
▼ + stars: | 2024-04-19 | by ( Elisabeth Malkin | ) www.nytimes.com time to read: +1 min

I stepped off the platform at the gleaming new Maxcanú train station, eager to see the magnificent Maya archaeological site of Uxmal. All I needed was a taxi to take me there, a trip of about 30 miles away. And I was the third person in two weeks to get off at Maxcanú expecting to reach Uxmal, he said. I was midway through a five-day trip to explore the brand-new Maya Train and several of its destinations in the Yucatán Peninsula of Mexico. Designed to run 965 miles (1,554 kilometers) around a loop of 34 stations when completed, the train will whisk passengers in cool comfort through colonial cities, archaeological sites, splashy resorts and tropical forests.

Persons: Maxcanú, van Locations: Yucatán, Mexico

☆ Google's CEO says its workplace isn't a place to 'fight over disruptive issues or debate politics'
▼ + stars: | 2024-04-18 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Sundar Pichai said in a blog post the office isn't a place to "debate politics." Google fired 28 workers involved in protests against its $1.2 billion contract with Israel. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The CEO's message, which comes only two days after in-office protests, is loud and clear: the office isn't a place for politics. That separate memo had told workers to "think again" before violating company policies with sit-in protests.

Persons: Sundar Pichai, —, Sundar Pichai's splashy Organizations: Google, Israel, Service, Google's, Business Locations: Israel, Sunnyvale and New York City

An AWS spokesperson said in an emailed statement that the company has introduced more cost-effective options for moving data. As of March, AWS had removed Snowmobile from its website, and the Amazon unit has stopped offering the service, CNBC has confirmed. Andy Jassy, now Amazon's CEO, called it the Snowmobile, and said the company would be using the truck to help customers speedily transfer data to Amazon Web Services facilities. "We intend to make sure that Snowmobile is both faster and less expensive than using a network-based data transfer model," Barr wrote. Clients generally find that sending data to AWS online is more economical than using Snowmobile, the company said.

Persons: we've, Andy Jassy, Jassy, Jeff Barr, Barr, Maxar, There's, we're Organizations: AWS, CNBC, Amazon Web Services, Amazon, Microsoft Locations: Las Vegas

☆ Peloton quietly drops unlimited free app membership because it failed to bring in paid subscribers
▼ + stars: | 2024-04-15 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Peloton has quietly removed its unlimited free-membership tier on its fitness app less than a year after it debuted because the initiative was failing to convert users into paid subscribers, the company said. People who signed up for the company's unlimited free membership before it was removed will continue to have access to it, Peloton said. McCarthy, a former Netflix and Spotify executive, had long wanted a free tier on the company's app. Soon after, the unlimited free tier was no longer available. While app subscribers declined during Peloton's fiscal second quarter ended Dec. 31, Coddington said the company still "believe[s]" in its app strategy and it remains "an important part of the business."

Persons: Barry McCarthy, McCarthy, Morgan, Liz Coddington, Coddington, we'll Organizations: Netflix, Spotify Locations: Manhattan, New York City, U.S

☆ ‘The Sympathizer’ review: Robert Downey Jr. heads down the rabbit hole of the Vietnam War
▼ + stars: | 2024-04-14 | by ( Brian Lowry | ) edition.cnn.com time to read: +3 min

CNN —The fortuitous timing of having a series produced by and featuring newly minted Oscar-winner Robert Downey Jr. tumbles down a very strange rabbit hole in “The Sympathizer,” a darkly satirical look at the Vietnam War and its aftermath. Each episode begins with dated-looking credits that evoke the 1970s, a promising Quentin Tarantino-ish conceit that, given what follows, sets expectations too high. As constructed, it’s a rather heavy-handed approximation of the fate Vietnam experienced in the pull of the war, which doesn’t make the Captain’s increasingly surreal arc any more compelling. Strangelove,” assuming that was the intent, than a means of maximizing the star’s presence without really heightening its impact. “The Sympathizer” is hardly the first project to funnel the contradictions of the Vietnam War through an exaggerated lens (“Apocalypse Now” being a prime example), but except for a few bracing sequences the execution only clouds that vision.

Persons: Robert Downey Jr, Downey, can’t, Park Chan, ”, Don McKellar, Quentin Tarantino, Duy Nguyen, Fred Nguyen Khan, Peter Sellers, “ Dr, Strangelove, Sandra Oh, David Duchovny, “ Organizations: CNN, Viet Thanh, CIA, HBO, coy, Credit Downey, Warner Bros . Locations: Vietnam, Viet, Saigon, what’s, “

☆ ‘Civil War’ Review: We Have Met the Enemy and It Is Us. Again.
▼ + stars: | 2024-04-11 | by ( Manohla Dargis | ) www.nytimes.com time to read: +3 min

A blunt, gut-twisting work of speculative fiction, “Civil War” opens with the United States at war with itself — literally, not just rhetorically. As in what if the visions of some rioters had been realized, what if the nation was again broken by Civil War, what if the democratic experiment called America had come undone? In “Civil War,” the British filmmaker Alex Garland explores the unbearable if not the unthinkable, something he likes to do. By the time “Civil War” opens, the fight has been raging for an undisclosed period yet long enough to have hollowed out cities and people’s faces alike. Instead, he presents an outwardly and largely post-ideological landscape in which debates over policies, politics and American exceptionalism have been rendered moot by war.

Persons: ”, it’s mesmerizingly, Kirsten Dunst, Alex Garland, Garland, “, Jesse Plemons, you’ve Organizations: D.C, Western Forces Locations: United States, Washington, New York, Texas, California, America, British

☆ The race for ever-cooler workplaces is leaving employees the winners
▼ + stars: | 2024-04-10 | by ( Tim Paradis | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementKat Hunt never wanted to work from home. Hunt, whose job is in finance in Portland, Oregon, needed a place for some team members to gather in New York City. Hunt wanted a spot that wasn't your typical WeWork or similar. Courtesy Kat Hunt and Radious"I was allowed to work from home, but I never wanted to," Hunt said.

Persons: —, Kat Hunt, Hunt, Radious, Amina Moreau, Moreau, Combinator, Ryan Masiello, That's, Googlers, Clelia Warburg Peters, It's Organizations: Google, JPMorgan, Service, Earth Finance, San, Francisco's Pier, Ventures Locations: luxe, Portland , Oregon, New York City, Portland, Brooklyn, San Francisco, Portland , Milwaukee, San Francisco Bay, New York, Mountain View , California, Francisco's

☆ Opinion: Trump Media’s billion-dollar valuation makes no sense
▼ + stars: | 2024-04-02 | by ( Opinion Jill Filipovic | ) edition.cnn.com time to read: +7 min

CNN —At Trump Media, it was the best of times, and it looks like it’s headed for the worst of times. Courtesy Jill FilipovicLast week, Trump Media was valued at nearly $11 billion, an astronomical sum for a money-losing company with a few million in revenue. Truth Social, Trump Media’s answer to Twitter/X, has fewer than 500,000 monthly active US users, compared to X’s 75 million. The Trump Media story, though, is a fascinating one because it is an amplified example of so much of the Trump playbook. “The first rule of cults is: you’re never in a cult,” cult expert Daniella Mestyanek Young told Jennifer Rubin of the Washington Post.

Persons: Jill Filipovic, Donald Trump’s, Trump, Michael Ohlrogge, he’s, MAGA, there’s, Rick Ross, Robert Jay Lifton, ”, —, “, you’re, Daniella Mestyanek Young, Jennifer Rubin Organizations: Twitter, CNN, CNN —, Trump Media, Trump, NYU, Washington Post, Republican, Republican Party, RNC Locations: New York, America

☆ How the businessman who blew up MoviePass tried to create a 'TikTok killer' and cost investors millions
▼ + stars: | 2024-04-01 | by ( Ashley Rodriguez | Jason Guerrasio | ) www.businessinsider.com time to read: +22 min

At Vinco, Farnsworth employed several of the same tactics that he had at MoviePass and at his earlier ventures. "Ted took these press releases and really treated them like they were works of art for him," Matt Argall, a former advisor to Farnsworth, told BI. Hudson Bay has not been served the lawsuit as of the publication of this story. "Hudson Bay's investment in Vinco Ventures was a standard, fixed price convertible loan of which millions remain unpaid," Hudson Bay told BI in a statement. "If served, Hudson Bay will seek to have these baseless, factually flawed and frivolous claims, which have been repeatedly dismissed in other proceedings against other parties, dismissed expeditiously."

Persons: MoviePass, Ted Farnsworth, Maria Bartiromo, he'd, Farnsworth, Jaeson Ma, Ted Farnsworth playbook, Ted, Barnum, John Fichthorn, I've, Shadwrick Vick, Rudy, Vick, Roderick Vanderbilt, who's, hocking, La Toya Jackson, Helios, Matheson, Brian Quinn, Farnsworth's, Michael Hartstein, Vinco, Matt Argall, Mitch Lowe, Reuters Farnsworth, David, Goliath, TikTok, We're, Argall, Elton John, Jamie McCarthy, Lomotif, Lil Nas X, Snoop Dogg, Grimes, Zash, Allan Stern, Get2it, Stern, Robert N, Scola Jr, Scola, he's, —, Lowe, Getty, Dave Kotinsky, Stringer Vinco, expeditiously, Farnsworth —, Vanderbilt, Jesse Law, Katherine Long Organizations: Fox Business, Hollywood, Business, Zash Global Media, Entertainment, Vinco Ventures, Fox, Hudson Bay, BI, Helios, Matheson, Matheson Analytics, Boston College Law School, Palladium Capital Group, Vinco, BHP Capital, Armistice, CVI Investments, National Enquirer, Reuters, AMC Theatres, AMC, Gemini Valuation, Hudson, Eightco Holdings, Elton John AIDS Foundation, 91st, EDC, Tampa Marriott, SEC, Publishing, National Examiner, Globe, The New York Times, Southern, Southern District of, Bloomberg, Bay, Vanderbilt, Federal Bureau of Investigation Locations: Hudson, Vinco, Zash, Hudson Bay, China, Syracuse , New York, Lomotif, Syracuse, West Hollywood , California, Vegas, Tampa, Argall, Boston, India, The, Miami, MoviePass, Southern District, Southern District of Florida, New York

☆ ‘The People’s Joker’ and the Perils of Playing With a Studio’s Copyright
▼ + stars: | 2024-04-01 | by ( Eric Grode | ) www.nytimes.com time to read: +1 min

Vera Drew never received a cease-and-desist letter. She would like to be very clear on that point. Unless, that is, a filmmaker receives a letter from Warner Bros. “This letter was actually kind of complimentary, but it expressed their concern that the film infringed on their brand,” Drew said. I was like, ‘No, I got a passport for this!

Persons: Vera Drew, Drew, Megan Amram, Tim, Eric, Sacha Baron Cohen, “, Al Yankovic, ” Drew, ’ Organizations: Toronto, Warner Bros Locations: Los Angeles

☆ It's not just Ronna McDaniel: 5 other high-profile political figures who made a splashy transition to the media industry
▼ + stars: | 2024-03-26 | by ( John L. Dorman | ) www.businessinsider.com time to read: +1 min

In recent decades, there's been a very visible pipeline from politics to the media industry. Some critics have pushed backed against former political figures migrating to major news networks. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But after former Republican National Committee chair Ronna McDaniel's controversial hiring as a paid contributor for NBC News, with high-profile network figures like Chuck Todd and Joe Scarborough panning the decision on-air, how entrenched is the popular transition from the political world to the media industry? This story is available exclusively to Business Insider subscribers.

Persons: there's, —, Ronna, Chuck Todd, Joe Scarborough Organizations: Service, Republican National Committee, NBC, Business

☆ Trump turns to his 'old cast' to raise millions for 2024 and the PAC paying his legal bills
▼ + stars: | 2024-03-25 | by ( Brian Schwartz | ) www.cnbc.com time to read: +5 min

The hedge fund founder is hosting a splashy fundraising dinner for Trump April 6 at his house in Palm Beach, Florida. But Paulson is not the only GOP kingmaker who is privately gearing up to help Trump. "It's the old cast coming back together to take it across the finish line," said an advisor to one of Trump's bundlers. Many of these "old cast" members are business leaders who have been close to Trump for years. As for the money going to pay Trump's legal bills, at least some of the people attending the Paulson event don't seem to care.

Persons: Donald Trump, John Paulson, Mike Segar, Trump, Paulson, Republican megadonor Rebekah Mercer, Robert Mercer, Rebekah, Oliver Contreras, Rebekah Mercer, Todd Ricketts, Wilbur Ross, Small Business Administration Linda McMahon, Woody Johnson, Meredith O'Rourke, Susan Necheles, Brendan Mcdermid Organizations: Economic, of New, Reuters Veteran, CNBC, Trump, GOP, Republican, New York, The Heartland Institute, Washington Post, Chicago Cubs, Trump Commerce, Small Business Administration, Trump's, New York Jets, NBC News, Save America PAC, Republican National Committee, America, Former U.S, Reuters Trump Locations: of New York, Manhattan , New York, U.S, Palm Beach , Florida, Palm Beach, Trump, Washington ,, Trump's U.S, United Kingdom, Former, New York City

☆ Cruise lines' private islands are having a renaissance. These are the 3 reasons they need it now more than ever before.
▼ + stars: | 2024-03-23 | by ( Brittany Chang | ) www.businessinsider.com time to read: +8 min

To cruise lines, they're cash cows. Related storiesThese are the three reasons cruise-run private destinations have become so important. Amid rising fuel costs, it's easy to see why cruise lines would want to plan more itineraries around these nearby stops. Private destinations keep profits in-houseThe bar had two halves: one on land and the other at pool level. And because there's no need to rely on other excursion operators, they allow cruise lines to keep more profits in-house.

Persons: —, Patrick Scholes, Michael Bayley, Naftali Holtz, it's, Scholes, wouldn't, Linken D'Souza, Brittany Chang, Josh Weinstein, Jason Liberty, Simone Padovani, CHANDAN KHANNA, They're Organizations: Service, Royal, Business, Truist Securities, Disney Cruise Line, Disney Cruise, Holland America, MSC, Royal Caribbean International, Royal Caribbean Group, Beach, cabanas, Carnival Corp, Private, Hideaway, Disney, Key, Getty Locations: Miami, Bahamas, CocoCay, Caribbean, Honduras, Belize, Eleuthera, Cay, Holland, Royal Caribbean, Paradise, Nassau, Florida, cabanas, Royal, Orlando, Venice, Italy's Giudecca, Santorini, Greece, Key West , Florida, California, Alaska , Maine, Europe, Juneau , Alaska, French Polynesia, Italy

☆ This ‘6 to 1’ trick might make your grocery shopping easier
▼ + stars: | 2024-03-13 | by ( Karla Walsh | ) edition.cnn.com time to read: +7 min

@chefwillco My 6 to 1 grocery method makes shopping cheaper and easier! Let me know how you like this grocery shopping method. The benefits of the 6 to 1 methodColeman made a fresh cheddar apple Cobb salad using his grocery hack. And you can definitely make several meals out of four proteins,” Largeman-Roth said. How to make the 6 to 1 method work for youColeman created his hack to get control of his grocery budget.

Persons: Will Coleman, Coleman, “ You’re, @chefwillco, Will Coleman “, ”, he’s, Joe’s, Will Coleman Frances Largeman, Roth, Largeman, Eva Cruz, ” Largeman, “, ” Peek, ” Coleman, Karla Walsh Organizations: CNN, Foods Locations: New York City, Dobbs, , New York, brussels, Des Moines , Iowa

CNBC embedded with teams from HSI and California Highway Patrol to witness four organized retail crime operations for this investigation. CNBCAt the bottom of organized retail crime rings are boosters — the people who go into stores and take the items. A bin filled with sparkly silver boots that police suspect an alleged San Jose, California, crime ring stole from T.J. Maxx. In a statement, a TJX spokesperson said the company is "thankful" for CHP's efforts and is taking organized retail crime "very seriously." Court records filed in connection with the case provide a rare glimpse into the inner workings of an alleged organized retail crime ring.

Persons: Michelle Mack, Mack, Michelle Mack's, Louis Vuitton, Adam Parks, they've, Parks, HSI, It's, Joaquin, El, Guzman, Scott Robles, Robles, moisturizer, Allegra, Maxx, Gabrielle Fonrouge, Manny Nevarez, TJX, Michael Ball, Diego, Donna Washburn, Washburn, Mack —, we'll, Charlotte, Estee Lauder, masterminding, Rob Bonta, Kenneth Mack, Bonta, Kimora Lee Gooding texted Michelle Mack, Jan, Gooding, Andrew Barclay, Scott, let's, Kenneth Mack texted Michelle Mack, Michelle Mack texted Alina Franco, Sephora, Prada, Ulta's, Dave Kimbell, Kimbell Organizations: Police, CNBC, Patrol, Homeland Security Investigations, Department of Homeland, New, U.S . Custom House, Operation French, Walgreens, New Orleans Public, Federal, Gillette, CHP, TJX Companies, Bay Area, CNBC Police, Flea, Santa, Attorney, Capitol Flea, L'Oreal, Macy's, Body Locations: San Diego, Bonsall , California, California, Washington , Utah , Oregon, Colorado , Arizona , Illinois , Texas, Florida , Pennsylvania, Massachusetts, Ohio, U.S, Baton Rouge , Louisiana, HSI, New Orleans, Orleans, San Jose, Jose , California, Maxx, Bay, Bay Area, San Jose , California, Santa Clara, Washburn, St, Augustine , Florida, Charlotte Tilbury, Prada, LensCrafters

☆ I went to SXSW and saw Netflix and Amazon competing with splashy sci-fi, while Paramount+ pitched its whole line-up
▼ + stars: | 2024-03-12 | by ( Nathan Mcalone | ) www.businessinsider.com time to read: +6 min

Netflix, Amazon, Paramount+, and Disney competed for attention with premieres and eye-catching installations. While there, I got to witness South by Southwest's opening weekend, which was dominated by the streaming heavyweights Netflix, Amazon, and Paramount+, with a cameo from Disney. Netflix held a premiere for "3 Body Problem," and Amazon built an interactive postapocalyptic world to promote "Fallout." AdvertisementNetflix's 3D projection for "3 Body Problem" stopped people in their tracks. Nathan McAloneLater, as the "3 Body Problem" premiere began, I heard "Game of Thrones" alum John Bradley (of Samwell Tarly fame) mutter an anxious "Oh God."

Persons: —, Max, Nathan McAlone Netflix, David Benioff, Weiss, Alexander Woo —, Doug Liman, Nathan McAlone, John Bradley, mutter, Bradley shouldn't, Palmer Haasch, Bradley, Blake Griffin, Nathan McAlone Amazon, Bass Reeves, Alex Garland's Organizations: Southwest, Netflix, Paramount, Disney, Service, HBO, Hollywood, Amazon, Paramount Theatre, Rotten, Mortal Media, Apple, Studios, Austin Convention Locations: Austin, Hollywood, United States

☆ CNBC Daily Open: A mixed picture on U.S. jobs growth
▼ + stars: | 2024-03-11 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. stocks retreatWall Street finished Friday's session lower as investors look ahead to key inflation data due out this week. Japan skirts technical recessionJapan avoided a technical recession as revised fourth-quarter data revealed the economy returned to growth. "My famous topless sports massage was all about showing our culture, to be honest, that we had such a flexible culture," the Malaysian businessman told CNBC.

Persons: Tony Fernandes, Tasha Keeney Organizations: Grand Central Market, CNBC, Wall, Nasdaq, Dow, Gross, AirAsia, Pfizer Locations: Los Angeles , California, U.S, Japan, Malaysian

☆ Pfizer is betting big on cancer drugs to turn business around after Covid decline – here's what to know
▼ + stars: | 2024-03-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +13 min

Now, the company is betting on cancer drugs to help it regain its footing after a rocky year marked by the rapid decline of its Covid business. That $43 billion Seagen acquisition doubled Pfizer's oncology drug pipeline to 60 different experimental programs. Some analysts noted that it might take a few years for some of Pfizer's cancer drugs in mid-stage development to show pivotal clinical trial data and become less risky. Revenue from the blockbuster breast cancer drug Ibrance and prostate cancer treatment Xtandi, which Pfizer shares with Astellas Pharma, has declined over the past year. They are among the most expensive prescription drugs in the U.S. Before the Seagen deal, 94% of Pfizer's cancer products were small-molecule drugs.

Persons: Wall, Seagen, Chris Boshoff, Boshoff, David Ryder, Trung Huynh, Joe Biden's, Chris Schott, Suneet Varma, RemeGe, Merck, Padcev, Guggenheim, Pfizer's, Pfizer hasn't, Dr, Mikael Dolsten, Irfan Khan Organizations: Nurphoto, Getty, Pfizer, Astellas Pharma, Guggenheim, Bloomberg, UBS, Medicare, Drug Administration, FDA, ADC, JPMorgan, Drugs, CNBC, CVS Pharmacy, Los Angeles Times Locations: Covid, Bothell , Washington, U.S, biologics, China, Eagle Rock , California

☆ Salesforce's behind-the-scenes co-founder is tackling Slack as software company turns 25
▼ + stars: | 2024-03-09 | by ( Jordan Novet | ) www.cnbc.com time to read: +16 min

"The V2MOM had nothing about generative AI," Parker Harris, who co-founded the company with Benioff, told CNBC in an interview. Harris, a Salesforce board member and now the technology chief of Slack, which Salesforce bought in 2021, said he'd rather avoid the limelight. Without the Data Cloud, Harris told CNBC, "I think we would have been in a much worse place." He told Benioff he'd redo the plan, the person said. They'll be talking more frequently, as Harris said they're about to kick off weekly meetings on Slack and Salesforce integrations.

Persons: Parker Harris, Marlena Sloss, Marc Benioff, ChatGPT, Benioff, Salesforce, Harris, Slack, he'd, Sam Altman, Noah Berger, Robin, Batman, Frank Dominguez, Dave Moellenhoff, Bobby Yazdani, Larry Ellison, Yazdani, Dominguez, Brett Queener, who's, Queener, Salesforce.com, He's, Ruth Asawa, Josef Albers, Miles Davis, Donald Trump, Jason Alden, Marc, Kara Swisher, David Paul Morris, Adam Selipsky, it's, Stewart Butterfield, Lidiane Jones, Cal Henderson, Benioff's, Parker, Noah Weiss, Denise Dresser, Weiss, Parker Harris emoji, They'll, Salesforce integrations, Stefan Slowinski Organizations: Salesforce, Bloomberg, Getty, CNBC, Google, Microsoft, Middlebury College, Apple, San, San Francisco Bay Area, Metropolis Software, Software, Saba Software, Oracle, San Francisco's Telegraph, YouTube, Facebook, Economic, Salesforce.com Inc, Web, VMware, Employees Locations: San Francisco, Silicon Valley, English, Vermont, North Carolina, San Francisco Bay, Moellenhoff, Kincaid's, Burlingame, San Francisco's, Salesforce, France, Italy, Nantucket, San, Pacific, Davos, Switzerland, Cliff, New York, Las Vegas, Hawaii

☆ Pharmaceutical companies behind weight-loss drugs are slimming down a new target: The Magnificent 7
▼ + stars: | 2024-03-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at pharma companies' surging stocks and threatening tech darlings thanks to their weight-loss drugs. And it comes despite only 1% of US adults taking weight-loss drugs, according to Bank of America , which predicts that number could rise to 15% by 2035. Weight-loss drugs are also cutting more than just fat. For Wall Street, meanwhile, the equation is much simpler: Getting more people on weight-loss drugs boosts the economy. The trend, which will be powered by cash-rich mega-cap tech companies, is thanks to strong earnings growth, the bank said.

Persons: —, Joe Biden, Donald Trump —, Trump, Zhan, Eli Lilly, Tesla, Hannah Latham, Octavio Jones, Christian Rodriguez, Laura MacPherson, Jenny Chang, Rodriguez, they're, Goldman Sachs, Biden, Barry Sternlicht, Fernando Gutierrez, It's, Elon Musk, TikTok, Pete Ryan, RJ Scaringe, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, pharma, Business, Tesla, Microsoft, JPMorgan, Pfizer, Novo Nordisk, Bank of America, Nvidia, Companies, Fed, Infrastructure Investment, Alpha, Commission, Elon, EV, Nike, Congress, White, Meta, SXSW Locations: China, US, New York, London

☆ Temu spent so much on Meta ads that staffers joked they should thank the company with a hefty gift card, report says
▼ + stars: | 2024-03-07 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +1 min

Temu reportedly spent nearly $2 billion on ads on Meta last year, per WSJ. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTemu reportedly spent nearly $2 billion on ads on Meta in 2023. One source told the Journal that Meta staffers joked that Temu has spent so much on ads on its platforms that it should thank the company by rewarding it with one of its own gift cards.

Persons: Temu, — Organizations: Meta, Analysts, Service, Wall Street Journal, Business

Search resuls for: "splashy"

25 mentions found