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☆ Cissy Houston, renowned gospel singer and Whitney Houston’s mother, dies at 91
▼ + stars: | 2024-10-07 | by ( ) www.nbcnews.com time to read: +3 min

Cissy Houston, renowned soul and gospel singer and mother to Whitney Houston, died at the age of 91. Houston, a two-time Grammy winner who sang backup for Aretha Franklin and Elvis Presley, passed away at her home Monday morning in New Jersey, according to her daughter-in-law Pat Houston. May she rest in peace, alongside her daughter, Whitney and granddaughter Bobbi Kristina and other cherished family members.”Whitney Houston and Cissy Houston at the Annual People's Choice Awards in 1993. She later formed the Sweet Inspirations alongside Dee Dee Warwick and Doris Troy, singing backup for Otis Redding, Dusty Springfield and Dionne Warwick. “On behalf of The Houston Family, we are touched by your generous support, and your outpouring of love during our profound time of grief,” said the family in a statement.

Persons: Cissy Houston, Whitney Houston, Aretha Franklin, Elvis Presley, Pat Houston, ”, Cissy, Whitney, Bobbi Kristina, ” Whitney Houston, Houston, Dee Dee Warwick, Doris Troy, Otis Redding, Dusty Springfield, Dionne Warwick, Van Morrison’s “, Jimi Hendrix, Presley, Bette Middler’s, Chaka Khan, Diana Ross, David Bowie, Beyoncé, Donny Hathaway, Wilson Pickett, ” Houston, Dionne, Leontyne Price, “ Organizations: CBS, Getty, Houston ”, Houston Locations: Houston, New Jersey, Newark , New Jersey, Las Vegas

☆ Banks prefer a less aggressive Fed over the near term, says Baird's David George
▼ + stars: | 2024-10-07 | 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 EmailBanks prefer a less aggressive Fed over the near term, says Baird's David GeorgeDavid George, Baird senior research analyst of U.S. banks, joins CNBC's 'Squawk Box' to discuss bank earnings kicking off this week, what the group would like from the Fed going forward, and more.

Persons: Banks, Baird's David George David George, Baird

☆ 28 stocks to buy for up to 162% earnings growth as markets surge another 10%: Goldman Sachs
▼ + stars: | 2024-10-07 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

US stocks are clicking on all cylinders, which led Goldman Sachs to lift its S&P 500 target again. Here are 25 companies set for outstanding earnings growth in 2025. The financial titan originally set its 2024 S&P 500 target at 4,700, then lifted it a month later to 5,100. That would translate to $241 worth of S&P 500 earnings, before an 11% jump in 2025 to $268 and an additional 7% leap in 2026 to $288. This month, the firm shared a coveted list of companies with the strongest expected earnings growth in 2025.

Persons: Goldman Sachs, —, David Kostin, Kostin Organizations: Service, Wall, Apple, Meta, Microsoft, Nvidia, Communication

☆ Greenlight's alleged former head of macro is hoping to get at least $5 million from David Einhorn, claiming age discrimination
▼ + stars: | 2024-10-07 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +7 min

James Fishback, the former Greenlight analyst who said he was the head of macro, filed an arbitration claim against his old firm. AdvertisementThe age discrimination claim, according to the filing, is based on a flippant comment Fishback alleges Einhorn made. Fishback told potential backers of his firm he was the head of macro when he was at Greenlight, which prompted the now-viral dispute. The latest legal filing uses the titles "head of macro trading" and "head of macro" interchangeably. Advertisement"I pulled every penny I had invested in Greenlight and put it in Tesla," Fishback wrote on Twitter in September.

Persons: James Fishback, Fishback, David Einhorn, Greenlight, —, he's, Einhorn, Toby Haselberger, Mr, Einhorn dismissively, Elon Musk, Donald Trump, Fine, outperforming Einhorn, Azoria, Ben Shapiro, Vivek Ramaswamy, Steve Rosen, Nikki Haley's, Dean Phillips, Tesla Organizations: Service, American, Association, Twitter, overpriced Ivy League, Greenlight, Azoria Partners, Democratic Locations: Greenlight, Manhattan, Tesla

☆ Another top aide to New York City mayor resigns amid federal probe
▼ + stars: | 2024-10-07 | by ( ) www.cnbc.com time to read: +5 min

Embattled New York City Mayor Eric Adams said Monday that he's accepted the resignation of his deputy mayor for public safety, Philip Banks, the latest senior official to leave as the mayor fends off an indictment and calls to step down. All three Banks brothers have denied wrongdoing. An attorney for Philip Banks, Benjamin Brafman, said Monday that federal prosecutors had assured him his client was not a target of the investigation. In addition to seizing the phones of the three Banks brothers, federal investigators also took devices from the city's police commissioner, Edward Caban, and one of Adams' closest aides, Timothy Pearson. At a press briefing last month, Adams spoke of his close ties to the Banks brothers.

Persons: Eric Adams, he's, Philip Banks, fends, Adams, Banks, David Banks, Terence, Benjamin Brafman, Kathy Hochul, Philip Banks Jr, Edward Caban, Timothy Pearson, Caban, Pearson Organizations: New York City, NY1, New York, Associated Press, Gov, Democrat, City, NYPD Locations: New York, Yorkers

☆ Padres top Dodgers as fans throw baseballs, trash at San Diego players
▼ + stars: | 2024-10-07 | by ( Jacob Lev | Brad Lendon | ) edition.cnn.com time to read: +3 min

CNN —The San Diego Padres hit a record-tying six home runs Sunday night to smash the Los Angeles Dodgers 10-2 in a Major League Baseball playoff game marred by fans in Dodger Stadium throwing what appeared to be baseballs, and then trash, at Padres players. With the Padres up 4-1 at the time, fans threw baseballs at Padres left-fielder Jurickson Profar while he was warming up in the outfield. As Padres manager Mike Shildt and players met with umpires, fans started throwing trash onto the outfield grass by Tatis in right field. Padres outfielder Jurickson Profar speaks with an umpire during a delay due to fans throwing items on the field. But I know also that we’ll stay classy, San Diego,” Shildt said.

Persons: Fernando Tatis Jr, baseballs, Jurickson Profar, Mike Shildt, ” Profar, It’s, Brian Rothmuller, “ We’re, we’re, ”, Tatis, ” Tatis, “, ” Shildt, Xander Bogaerts, Mark J, Terrill, David Peralta, Gavin Lux, Jackson Merrill, Kyle Higashioka Organizations: CNN, San Diego Padres, Los Angeles Dodgers, Major League Baseball, Dodger, Padres, San Diego, National League, ESPN, MLB, Philadelphia Phillies, Chicago Cubs, Dodgers Locations: San Diego, Los Angeles

☆ Nobel Prize in medicine 2024 awarded for work on the discovery of microRNA to Victor Ambros and Gary Ruvkun
▼ + stars: | 2024-10-07 | by ( Christian Edwards | Katie Hunt | ) edition.cnn.com time to read: +4 min

CNN —This year’s Nobel Prize in physiology or medicine has been awarded to Victor Ambros and Gary Ruvkun for their work on the discovery of microRNA, a fundamental principle governing how gene activity is regulated. Their research revealed how genes give rise to different cells within the human body, a process known as gene regulation. The Nobel Prize committee announced the prestigious honor, seen as the pinnacle of scientific achievement, in Sweden on Monday. Ruvkun conducted his research at Massachusetts General Hospital, and is a professor of genetics at Harvard Medical School. Nobel Committee Secretary General Thomas Perlmann speaks to the media in front of a picture of this year's laureates Victor Ambros and Gary Ruvkum during the announcement of the Nobel Prize in medicine winners on Monday.

Persons: Victor Ambros, Gary Ruvkun, Ambros, ’, “, Ruvkun, General Thomas Perlmann, Gary Ruvkum, Jonathan Nackstrand, ”, Olle Kämpe, David Pendlebury, ” Pendlebury, Katalin Karikó, Drew Weissman Organizations: CNN, University of Massachusetts Medical School, Harvard University, Massachusetts General Hospital, Harvard Medical School, Getty, Clarivate’s Institute for Scientific Locations: Sweden, Massachusetts, AFP, Covid

☆ Goldman Sachs bumps its S&P 500 price target for the 3rd time this year as it sees higher corporate profits ahead
▼ + stars: | 2024-10-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Goldman Sachs raised its S&P 500 year-end price target to 6,000, implying a 5% gain. AdvertisementStrategists at Goldman Sachs raised their S&P 500 year-end price target for the third time this year. The price target increase comes after Kostin and his team set an initial year-end S&P 500 price target of 4,700 late last year. AdvertisementKostin also raised the bank's 12-month S&P 500 price target to 6,300 from 6,000. Kostin's price target forecasts assume the S&P 500 continues to trade at a premium valuation of about 22x forward earnings.

Persons: Goldman Sachs, Goldman, —, Goldman's David Kostin, Kostin, Myers Squibb Organizations: Service, Myers, Warner Bros ., Communacopia Locations: Bristol, Gilead

☆ CNBC Daily Open: September’s blockbuster jobs report changes the calculus
▼ + stars: | 2024-10-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Paul Bersebach | Medianews Group | Getty ImagesThis 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. What you need to know todayThe bottom lineOh, to be a fly on the wall when the U.S. Labor Department arrived at the final tally for September's jobs number. That's perhaps why stocks rose only tentatively on its release. For the week, S&P rose 0.22%, the Dow ticked up 0.09% and the Nasdaq increased 0.1% — a huge jump, considering it was down more than 1% at Thursday's close.

Persons: SPX, Paul Bersebach, payrolls, David Royal, –, Jeff Cox, Alex Harring, Lisa Kailai Han Organizations: Medianews, Getty, CNBC, U.S . Labor Department, Dow Jones, Nasdaq, Dow, Labor Locations: Lake Forest , CA, —, Thursday's

Bret: One of the most interesting recent stories in The Times is an analysis of undecided voters, and their concerns about Trump and Harris. One of most important findings — one that should really concern the Harris campaign — is that a high proportion of undecided voters are young, low-income and Black or Latino. The concerns about Trump are familiar: “too extreme,” “angered easily” and so on. But some of the concerns about Harris were more surprising. The other part, I think, is that Harris hasn’t done enough to reassure undecided voters that she’s decisive, knowledgeable and well-advised.

Persons: Bret, Harris, —, Trump, ” “, ”, Gail, That’s, Barack Obama, Warren Buffett, Paul Volcker, Colin Powell, Robert Rubin, David Petraeus, Liz Cheney, she’s Organizations: Times, Trump Locations: North Carolina, Michigan, Arizona

☆ Samurai sword master rates samurai movie battles
▼ + stars: | 2024-10-07 | by ( Ian Phillips | David Ibekwe | ) www.businessinsider.com time to read: +1 min

Seki Nobuhide Sensei, a martial arts and katana instructor, rates portrayals of samurai battles in movies and TV shows. He breaks down the differences between samurai and ninja fighting techniques in "The Last Samurai," starring Tom Cruise and Ken Watanabe. He describes how to best anticipate your opponent's moves in "John Wick: Chapter 4," starring Keanu Reeves, Donnie Yen, and Hiroyuki Sanada. He talks about how to battle multiple opponents at once in "Harakiri;" and "Seven Samurai," starring Toshiro Mifune. Seki Nobuhide Sensei is the 22nd headmaster of Asayama Ichiden-ryu.

Persons: Seki Nobuhide Sensei, Tom Cruise, Ken Watanabe, John Wick, Keanu Reeves, Donnie Yen, Hiroyuki Sanada, Hugh Jackman, Uma Thurman, Lucy Liu, David Carradine, Robert Downey Jr, Chris Evans, Jeremy Renner, Toshiro Mifune, James, Roger Moore, Asayama

☆ Pete Buttigieg says 'the best thing to do is just to pick up the phone' to talk out a workplace issue. Experts agree — with some exceptions.
▼ + stars: | 2024-10-07 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +6 min

Experts say phone calls can resolve conflicts better than digital communication. AdvertisementPicking up the phone really is the best way to figure things out when issues arise with colleagues, experts say. "And, I think, to me, it's an example of how often the best thing to do is just to pick up the phone." Phone calls, in comparison, allow for real-time, personal discussions "where tone and emotion are conveyed much more clearly," McLean said. But phone calls, in general, also help build better relationships in the long run, Sundaram said.

Persons: Pete Buttigieg, Elon, Hurricane Helene, —, Helene, Buttigieg, Khyati Sundaram, Sundaram, Victoria McLean, McLean, David Rice, Musk, Rice, isn't, Sophie O'Brien, O'Brien, they've, Emily Maguire, Tara Arutunian Organizations: Hurricane, Service, MSNBC, Wall Locations: Asheville , North Carolina, New York

☆ Cissy Houston, Grammy-winning singer and mother of Whitney Houston, dead at 91
▼ + stars: | 2024-10-07 | by ( Lisa Respers France | ) edition.cnn.com time to read: +3 min

CNN —Cissy Houston, Grammy-winning singer and mother of Whitney Houston, has died, according to Gwendolyn Quinn, a representative for The Estate of Whitney E. Houston. “Mother Cissy has been a strong and towering figure in our lives. Whitney Houston died in 2012 at the age of 48. Cissy Houston was also the mother of sons Gary and Michael and the grandmother of her several grandchildren, according to her biography. Her granddaughter Bobbie Kristina Brown, died three years after her mother Whitney at the age of 22.

Persons: CNN — Cissy Houston, Whitney Houston, Gwendolyn Quinn, Whitney E, ”, Pat Houston, Cissy, Emily Drinkard, Cissy Houston, Delia Mae Drinkard, Houston, Anne, Larry, Nicky, Lee, Marie, Anne Drinkard, Lee’s, Judy Clay, Dee Dee Warwick, Dionne Warwick, Houston’s nieces, Aretha Franklin, Dusty Springfield, Esther Phillips, Lou Rawls, Otis Redding, Solomon Burke, Wilson Pickett, Franklin, Bette Midler, Beyoncé, Burt Bacharach, Carly Simon, Chaka Khan, David Bowie, Elvis Presley, Jimi Hendrix, Gary, Michael, Bobbie Kristina Brown, Whitney, ” Pat Houston’s, “, Bobbi Kristina Organizations: CNN, The, Whitney, Houston, Newark Public School, New Hope Baptist Church, Sacred Music, Carnegie Hall, Newport Jazz, Webster, RCA Records Locations: Cissy, Newport , Rhode Island, New York City, ”, Cissy Houston

☆ Pfizer needs to 'fix what they have', no M&A capacity, says BMO's Evan Seigerman on activist stake
▼ + stars: | 2024-10-07 | 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 EmailPfizer needs to 'fix what they have', no M&A capacity, says BMO's Evan Seigerman on activist stakeEvan David Seigerman, BMO Biotech Analyst, joins 'Closing Bell Overtime' to talk Pfizer shares climbing on activist firm Starboard taking a stake in the company.

Persons: BMO's Evan Seigerman, Evan David Seigerman Organizations: Pfizer, BMO Biotech Analyst

☆ Israel marks the anniversary of October 7 Hamas attacks with tears and anger
▼ + stars: | 2024-10-07 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +10 min

To mark the anniversary of his death, his family huddled around the memorial on Monday, hugging each other and David’s picture. War rages onMonday marked the first anniversary of the Hamas terror attacks, and a year since Israel began its war against the militant group in Gaza. Throughout the morning, loud booms of outgoing fire reverberated throughout southern Israel as the IDF hit targets in the Gaza strip. Indeed, as the anniversary events got under way, several rockets were fired from Gaza towards Israel, injuring two people. Time stopped here,” Amat Moshe, whose grandparents were residents of the kibbutz, told CNN at the Nir Oz cemetery.

Persons: revelers, Amit Itzhak David, Inbar Parnassa, “, ”, Parnassa, Anat Magnezi, Amit Magnezi, Amit, Gabriel Barel’s, Yeoda, Jim Urquhart, Nir Oz, Dolev Yehud, Daniel Lifshitz, Yehud, Yehud’s, Sigal, Arbel, Ariel Cunio, David, David’s, Sharon Alony Cunio, Alony Cunio, Lifshitz, Oded, Yocheved, Yocheved Lifshitz, Nurit Cooper, Amiram Cooper, ” Amat Moshe, Nir, Moshe’s, Adina Moshe, Adina, Maya Shoshani Moshe, Moshe, Benjamin Netanyahu, Netanyahu, Amir Cohen, Jonathan Shimriz, Alon Shimriz Organizations: Israel CNN, Nova Music, CNN, Nova, Israel Defense Forces, Hamas, United Nations, Israel, Israel’s, Reuters Locations: Tel Aviv, Israel, Gaza, South America, Jerusalem, Kibbutz Mefalsim

☆ No case for more jumbo rate cuts by the Fed, strategists say
▼ + stars: | 2024-10-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +4 min

A television broadcasts the Federal Reserve's interest rate cut on the floor of the New York Stock Exchange on Sept. 18, 2024. Roche said the figures made the Fed's "jumbo interest rate cut look silly, populist and panicky." 1 is that [it gives the impression that] the economy is more fragile than it is ... and the economy is fine, thank you very much, and doesn't need jumbo rate cuts," he told CNBC's "Squawk Box Europe." And headline and core inflation will stay above the Fed target of 2%, so the case for aggressive rate cuts [is not there]," he said. "Yes there is a case for modest rate cuts, there is a case for 25 to 50 basis point cuts by January next year, but a case for 50 basis point cut at the next meeting just does not exist," Parker said.

Persons: Michael Nagle, David Roche, Roche, CNBC's, " Roche, Bob Parker, Parker, Dave Pierce Organizations: New York Stock Exchange, Bloomberg, Getty, Federal Reserve, CNBC, Quantum, Federal, Market, International Capital Markets Association, Fed, Global, Capital, Dow Jones Industrial Locations: Israel, U.S

☆ CNBC Daily Open: September’s shockingly good jobs report changes everything
▼ + stars: | 2024-10-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Angus Mordant | Bloomberg | Getty ImagesThis 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. What you need to know todayThe bottom lineOh, to be a fly on the wall when the U.S. Labor Department arrived at the final tally for September's jobs number. That's perhaps why stocks rose only tentatively on its release. For the week, S&P rose 0.22%, the Dow ticked up 0.09% and the Nasdaq increased 0.1% — a huge jump, considering it was down more than 1% at Thursday's close.

Persons: Angus Mordant, payrolls, David Royal, –, Jeff Cox, Alex Harring, Lisa Kailai Han Organizations: HK UBI, Bloomberg, Getty, CNBC, U.S . Labor Department, Dow Jones, Nasdaq, Dow, Labor Locations: Albany, Latham , New York, —, Thursday's

☆ David Roche says misleading 50-basis-point Fed cut will create market instability
▼ + stars: | 2024-10-07 | 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 EmailDavid Roche says misleading 50-basis-point Fed cut will create market instabilityDavid Roche, strategist at Quantum Strategy, says the Federal Reserve's initial jumbo cut gives markets the wrong impression that rates will return to rock bottom.

Persons: David Roche Organizations: Quantum

☆ This $9 billion hedge fund just joined the raid on big bank commodity index traders with a senior JPMorgan hire
▼ + stars: | 2024-10-07 | by ( Alex Morrell | ) www.businessinsider.com time to read: +3 min

Alphadyne Asset Management hired JPMorgan's Thomas Byuen as a commodity index portfolio manager. Hedge funds like Balyasny and Jain Global have poached big bank commodity traders in recent years. Byuen, global head of commodity index trading, joined the bank in 2012 out of college, according to his LinkedIn profile and industry records. More recently, Jain Global, the most hyped new hedge fund launch in years, hired BofA's Max Lee, head of commodity and FX systematic strategy trading. Commodities is a top strategy at the fund, which brought in ex-Macquarie exec David Hochberg to lead the unit.

Persons: JPMorgan's Thomas Byuen, —, wasn't, Thomas Byuen, Max Lee, Mike Severo, LMR, Goldman Sachs, Will Scott, Morgan Stanley, Dan Deighton, Balyasny, Deighton's, BofA's Max Lee, David Hochberg Organizations: Asset Management, Jain, Service, Alphadyne, Management, JPMorgan, Verition Fund Management, Balyasny Asset Management, LMR Partners, Commodities, Macquarie Locations: BofA

☆ European soccer round-up: Robert Lewandowski hat-trick keeps Barcelona top of La Liga
▼ + stars: | 2024-10-07 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +8 min

CNN —With European soccer heading into its second international break of the season, league tables are starting to take shape. Spain’s La Liga: Barcelona ease to victory, injury woes for Real MadridRobert Lewandowski is a man in form. The Gunners were also forced to come from behind against Southampton after summer signing Cameron Archer gave the Saints the lead in the second half. Unacceptable second half. Fiorentina head coach Raffaele Palladino received a red card late on, as did Hernández, but the home side held on to clinch its second win of the season.

Persons: Real Madrid Robert Lewandowski, Lewandowski, Antonio Sivera, Hansi Flick –, Bayern Munich –, Lewy, ” Flick, “ He’s, Vincent West, Federico Valverde, Vinícius, Dani Carvajal, Carvajal, stretchered, Arne Slot –, Klopp –, Diogo Jota, Mateo Kovačić, Jérémy Doku, Rodrigo Muniz, Cameron Archer, Kai Havertz, Gabriel Martinelli, Erik ten Hag, Winger Brennan Johnson, James Maddison, Yankuba, Georginio Rutter, Danny Welbeck, Bryn Lennon, Ange Postecoglou, I’ve, We’ve, ”, Michael Olise, Kai Pfaffenbach, Omar Marmoush, Manuel Neuer, Bayer, Holstein, Victor Boniface, Jonas Hofmann, Max Geschwill, Fiete Arp, Gea, Fiorentina Goalkeeper David de Gea, De Gea, Moise Kean, –, Milan –, Viola, Theo Hernández, Matteo Gabbia, brough, Tammy Abraham, Jennifer Lorenzini, Christian Pulisic, Albert Guðmundsson, Raffaele Palladino Organizations: CNN, Liga, Real Madrid, Barcelona, La Liga, Raphinha, Bayern Munich, Reuters, Villarreal, England’s Premier League, Tottenham, Manchester City, Arsenal, Premier League, Klopp, Klopp – Liverpool, Crystal, Reds, City, Fulham, Gunners, Southampton, Liverpool . Manchester United, Aston Villa, Brighton’s American, Sunday, Spurs, Brighton, ” Spurs, Sky Sports, Bundesliga, Bayern, Leverkusen, Leipzig, Eintracht Frankfurt, Bavarian, Bayer Leverkusen, Holstein Kiel, Serie, Fiorentina Goalkeeper, Fiorentina, AC Milan, Manchester United, Milan, Reuters American Locations: Europe’s, Barcelona, Polish, La, Madrid, Liverpool, Portuguese, City, Holstein Kiel .

☆ Goldman Sachs is getting more bullish about stocks, raises S&P 500 forecast to 6,000
▼ + stars: | 2024-10-07 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The bank raised its 2024 S & P 500 target to 6,000 from 5,600. Goldman also raised its 12-month S & P 500 target to 6,300 from 6,000. But Goldman thinks ultimately earnings growth will lift markets further before the year is out. The S & P 500 is in the red for October so far. Analysts polled by FactSet expect S & P 500 earnings grew for a fifth straight quarter.

Persons: Goldman Sachs, That's, Goldman, David Kostin, Kostin, Wells, Ken Gawrelski Organizations: Evercore ISI, CNBC, Federal Reserve, FactSet, North America Retail Locations: Friday's

☆ British billionaire slashes the price of his London mansion by $13 million, saying the rich are fleeing the UK. See inside the storied property.
▼ + stars: | 2024-10-06 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

British billionaire David Sullivan has cut the price of his London mansion by about $13 million. The businessman, who owns the West Ham United soccer club, said he is taking a loss on the property. AdvertisementBritish billionaire David Sullivan has cut the price of his London mansion to £65 million (about $85 million), knocking about $13 million off of the previous asking price. AdvertisementDavenport purchased the house from the Sierra Leone High Commission in 1999.Who is David Sullivan? David Sullivan.

Persons: David Sullivan, Sullivan, —, Knight Frank, Knight Frank Sullivan, Edward Davenport, Kate Moss, Provocateur, Amy Winehouse, Knight Frank Davenport's, Paris Hilton, Daniel Radcliffe, Davenport, Chris Brunskill, Sunday Times Rich Organizations: West Ham United soccer, Service, West Ham United, Bloomberg, Guardian, Sierra Leone High Commission, Getty, Sunday Times, Daily Sport, Sunday Sport, Times, I'm Locations: London, Monaco, Dubai, Marylebone, Portland, Paris

☆ There’s too much negativity about the stock market. Focus on these 3 positives instead
▼ + stars: | 2024-10-06 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

After all of these years, after all of the rather incredible rallies and gains in the stock market from so many groups, the typical morning still starts with a bevy of negativity. We hear about OpenAI and its brilliant $167 billion valuation , but we don't see any stock available to public-market investors. I have been furious at myself for thinking the Chinese government couldn't do anything about the country's struggling stock market. The Chinese stock market has been rallying nicely since the stimulus announcements. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: —, Elon Musk, he's, isn't, Carl Quintanilla, David Tepper, holler, That's, that's, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Federal Reserve, Walmart, Fed, SpaceX, Nike, Walgreens, CVS Health, Club, GE Healthcare, Wynn Resorts, Chinese Communist Party, Apple, PDD Holdings, JD.com, Baidu, Diamondback Energy, Exxon Mobil, CNBC, New York Stock Exchange, Getty Locations: U.S, China, —, New York City

☆ $63 million Royal New Zealand Navy ship capsizes and sinks off Samoa
▼ + stars: | 2024-10-06 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +3 min

A New Zealand naval ship caught fire and sank off Samoa; all those on board were rescued. AdvertisementA New Zealand naval ship that cost around $63 million caught fire and sank off the coast of Samoa. The HMNZS Manawanui. Related storiesThe New Zealand government said in 2018 that it would cost NZ$103 million (around $63 million) to buy and convert the ship, Radio New Zealand reported. AdvertisementGolding added that the passengers and crew would be flown back to New Zealand from Samoa on Sunday.

Persons: Manawanui, —, HMNZS Manawanui, Garin Golding, Golding, David Rowland, Shane Arndell Organizations: New, Service, New Zealand's Defence Force, New Zealand Air Force, Radio New Zealand, Royal New Zealand Navy, Component, New Zealand Defense Force, Business Locations: New Zealand, Samoa, Zealand, Upolu, Auckland

☆ 'I am getting increasingly queasy': JPMorgan's strategy chief on why investors should dial back risk amid market distortions
▼ + stars: | 2024-10-06 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

Yet, as markets eye a soft landing, potential shocks pose a higher risk to investors, David Kelly says. The firm's chief global strategist says the promise of a soft landing has encouraged Americans to pour into riskier assets at the exact time they shouldn't be. "I will say that although I think this is positive for the equity market, I am getting increasingly queasy about the fact that the equity market keeps on pricing in a soft landing," Kelly told Business Insider. He said that as the market prices in a soft landing, valuations rise, which means any shock to the market could send asset prices tumbling. According to Fed data, the total aggregate wealth of American households grew by about $50 trillion in the last five years.

Persons: David Kelly, —, Kelly, shouldn't, you've, payrolls Organizations: Service, Asset, Business, Federal

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