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☆ Joe Terranova on DataDog: I'd rather buy the stock if it moved a little bit higher
▼ + stars: | 2024-05-08 | 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 EmailJoe Terranova on DataDog: I'd rather buy the stock if it moved a little bit higherJoe Terranova, senior managing director at Virtus Investment Partners, joins CNBC's 'Halftime Report' to discuss growth stocks and how to trade them.

Persons: Joe Terranova Organizations: Virtus Investment Partners Locations: DataDog

☆ I quit my finance job and became an Airbnb host in Italy. I have no regrets about choosing happiness over money.
▼ + stars: | 2024-05-08 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +6 min

Anton Govor left his corporate finance career to become an Airbnb host on Lake Garda in Italy. I visited Lake Garda for the first time when I was 21The main guesthouse at GardaDoma. Courtesy of GardaDomaDuring a drive from Munich to Florence, I stopped in Lake Garda completely by chance. AdvertisementI chose to leave my finance career behindIn December 2018, my second son was born at Lake Garda, and I took parental leave at our house. I devote 1 to 4 p.m. to property maintenance and planning the dinner menu with our work family, who take shifts in cooking.

Persons: Anton Govor, Govor, he's, —, It's, Ernst & Young, Brenzone, Airbnb Organizations: Garda, Service, Ernst &, MOEX Group, Lake Garda Locations: Italy, Brenzone sul Garda, Moscow, Lake, Munich, Florence, Europe, Russia, Easter

☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

☆ An escalating cold war between US and China would be a blow to global growth, IMF official says
▼ + stars: | 2024-05-08 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Read previewA more intense cold war between the US and China would have a potentially dire impact on the global economy, according to an official from the International Monetary Fund. Speaking at Stanford University on Tuesday, IMF deputy managing director Gita Gopinath said that while US-China tensions haven't yet devolved into a full-blown cold war, such an escalation would be a major headwind to global growth. Advertisement"The emergence of these 'connector' countries—perhaps most notably Mexico and Vietnam—may have helped cushion the global economic impact of direct trade decoupling between the U.S. and China," Gopinath said. Zooming out, Gopinath highlighted that geopolitical instability in regions like the Middle East and turmoil stemming from the Russia-Ukraine war has sparked trade turbulence unseen since the Cold War. The IMF emphasized that trade fragmentation carries a higher price tag today, with the goods trade-to-GDP ratio now at 45% compared to 16% at the onset of the Cold War.

Persons: —, Gita Gopinath, Gopinath Organizations: Service, International Monetary Fund, Stanford University, Tuesday, Business, IMF, U.S Locations: China, Mexico, Vietnam, Russia, Ukraine

☆ Atlantis The Royal, Dubai: Inside the Middle East’s ‘best’ hotel
▼ + stars: | 2024-05-07 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +9 min

Atlantis, The Royal Atlantis, The Royal: The double-height bar is perfect for sunset cocktails — although you won't be making your own drinks, as there's a 24-hour bartender ready to make your favorites. Atlantis, The Royal Atlantis, The Royal: The triple-height library provides a secluded space to work, read or relax. Atlantis, The Royal Atlantis, The Royal: The entertainment room is kitted out with a 98-inch LED screen for a home cinema experience. Atlantis, The Royal Atlantis, The Royal: Every room has stunning views — including the marble-clad bathrooms. Atlantis, The Royal Atlantis, The Royal: Guests can enjoy designer amenities made by French fashion house Hermès, as well as bespoke gold toothbrushes, combs and brushes.

Persons: Swedish House Mafia —, there’s, ”, Tom Roelens, There’s, Cabana, Rebecca Cairns, Kendall Jenner, “ We’ve, we’ve, Graff, bathrobes, Jay Z, Louis, Valentino —, “, it’s, Estiatorio Milos, Costas Spiliadis, — Organizations: CNN, Swedish House Mafia, Royal, Atlantis Resorts, Dolce, Gabbana, cabanas, Atlantis, “ Royal, Nobu, —, Chefs, Sky Locations: Dubai, Beyoncé, isn’t, Arabian, Atlantis Royal Dubai

☆ Kellogg's gives UK employees time off on 'Summer Fridays' — with a catch
▼ + stars: | 2024-05-07 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

Kellogg's 'summer hours' policy gives UK employees 4.5-day workweeks. The 21-year-old policy is now available to 560 employees in the UK. AdvertisementKellogg's global snacks unit is giving UK workers half days on Fridays this summer, but there's a catch. The "summer hours" policy has been active at Kellogg's in the UK for 21 years, the company said in a release, and is now available to roughly 560 employees in the office and across the field. Summer Fridays have long been a staple of the corporate workweek in some fields.

Persons: —, Kellanova —, Chris Silcock Organizations: Service, Kellanova, Workers Locations: Kellogg's

☆ Shell and TotalEnergies listings: Europe risks losing its biggest oil companies to America
▼ + stars: | 2024-05-07 | by ( Anna Cooban | Hanna Ziady | ) edition.cnn.com time to read: +5 min

London CNN —Two of Europe’s biggest oil companies, Shell and TotalEnergies, are considering abandoning their stock exchanges for Wall Street in a move that would deal a hammer blow to London and Paris. Shares of TotalEnergies and Shell trade on a price-to-cash flow ratio of 4.7 and 5.2 respectively, compared with a ratio of 8.4 for Exxon Mobil (XOM) and 7.6 for Chevron (CVX). Alastair Syme, managing director of global energy equity research at Citi, says Shell and TotalEnergies have long traded at a discount. Investors would “be much more comfortable” buying European energy companies if they were part of the more valuable S&P 500 benchmark index of US equities, according to Syme. London languishesStill, the slightest hint that Shell may consider leaving London will have rattled the city’s beleaguered main stock exchange.

Persons: Britain’s Shell, France’s, Alastair Syme, Syme, Patrick Pouyanne, “, ”, Wael Sawan, Sawan, London languishes, Chris Beauchamp, Shell, TotalEnergies, New York “ would’ve, ” Lindsey Stewart, Ben van Beurden, ” Syme Organizations: London CNN, Shell, CAC, Exxon Mobil, Chevron, Citi, CNN, Investors, Bloomberg, London Stock Exchange, Nasdaq, BP, Morningstar, Financial, Commodities Locations: London, Paris, New York, Chevron, Europe, United States, Switzerland, “

☆ Watch out for these momentum losers that could underperform, Evercore ISI says
▼ + stars: | 2024-05-07 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

A collection of so-called momentum misers are already seeing their 2024 earnings estimates revised downward and the stocks have few reasons that could drive them higher, according to Julian Emanuel, Evercore ISI managing director and head of equity, derivatives and quantitative strategy. Lowe's first-quarter results are due out on May 21, but 2024 earnings estimates have fallen 4.7% year to date, according to Evercore. LOW YTD mountain Lowe's stock. MicroStrategy also made the Evercore list. Still, its 2024 earnings estimates have been revised down by more than 116% since the year began.

Persons: Julian Emanuel, Emanuel, Russell, Lowe's, Morgan Stanley, Simeon Gutman, Gutman, MicroStrategy Organizations: ISI, Coterra Energy, Citigroup

☆ Reddit shares climb on revenue beat in first quarterly report since IPO
▼ + stars: | 2024-05-07 | 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 EmailReddit shares climb on revenue beat in first quarterly report since IPORohit Kulkarni, Roth MKM managing director, joins 'Closing Bell Overtime' to talk Reddit's first quarterly report, what's ahead for the social media company, user growth in the quarter and more.

Persons: Rohit Kulkarni, Roth

☆ How do celebrities get their hands on museum-quality gowns?
▼ + stars: | 2024-05-07 | by ( Leah Dolan | ) edition.cnn.com time to read: +12 min

But today, as more and more celebrities choose to wear vintage, the all-important stretch of red carpet has started to look more like a museum hallway. Kendall Jenner's vintage dress for the 2024 Met Gala. Mugler — the luxury French fashion house responsible for dressing Zendaya in a 30 kilogram full metal robot suit from 1995. Although interest in vintage fashion is rising amongst celebrity clients, not everyone is qualified to physically handle these pieces. John Shearer/WireImage/Getty ImagesFashion’s rat raceBut if these one-of-a-kind pieces are so fragile, and the method of their conservation so exact, how do celebrities even get their hands on them?

Persons: CNN —, Miley Cyrus, Laverne Cox, Olivia Rodrigo, Bob Mackie, ”, Vanessa Friedman, Cardi, Margot Robbie, Jennifer Lawrence, Mugler, Givenchy —, That’s, Kim Kardashian, Marilyn Monroe’s, Emily Ratajkowski, Versace, Zendaya, Givenchy, Kendall Jenner, Kendall Jenner's, Jamie McCarthy, Renée Zellweger, Jean Dessès, Julia Roberts, “ Erin Brockovich, Erin Walsh, Anne Hathaway, Selena Gomez, Sarah Jessica Parker, WWD, Wiktor, ” Adrian Corsin, Law Roach, Jean, Jacques Urcun, Marion Bourdée, Adrian, Julie Ann Clauss, Tom Ford, Calvin Klein, Marc Jacobs, Carolina Herrera, “, John Shearer, Kylie, ” Jenner, Thierry Mugler, Couturissime, ” Bourdée, Kylie Jenner, Ripley’s, ” Mugler, won’t, Walsh, ” Erin Walsh, Valentino, Karwai Tang, We’re, Kendall, ” Corsin, hasn’t Organizations: CNN, New York Times, Givenchy, London, Publishing, Brooklyn, International Council of Museums, , New York, Hollywood, SAG, Vogue Locations: Zendaya, London, France, LA, Mugler, New York, “, , New

☆ Americans have spent their savings. Economists worry about what comes next
▼ + stars: | 2024-05-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But now that extra spending money is gone, economists are concerned about what comes next. That means many Americans have more debt than savings and suggests “that American households fully spent their pandemic-era savings as of March 2024,” they wrote in a recent report. Consumer spending plays a crucial role in driving economic growth in the United States, and it has shown remarkable strength over the past two years. “A continuing strong labor market could help consumers maintain spending patterns similar to those observed recently, even without pandemic-era savings,” they wrote. What comes next: Disney, Airbnb, Uber, Anheuser-Busch, Tapestry and Dillards all report later this week — investors will look for any comments about how consumer spending, or lack thereof, is altering revenue forecasts for 2024.

Persons: Hamza Abdelrahman, Luiz Edgard Oliveira, ”, Austan Goolsbee, ’ ”, Fitch, Sarah Wyeth, Chris Kempczinski, Abdelrahman, Airbnb, Warren Buffett, Berkshire Hathaway, Greg Abel, Buffett, “, Abel, isn’t, Boeing “, Scott Stocker, Read Organizations: CNN Business, Bell, New York CNN, San Francisco Federal Reserve, Chicago Federal, Society for, ”, Shoppers, Tyson Foods, “, Disney, Anheuser, Busch, Berkshire, International Monetary Fund, Industries, Nvidia, Microsoft, FAA, Boeing, Federal Aviation Administration, CNN Locations: New York, United States, Omaha , Nebraska, Omaha, scamming

☆ How a strained consumer 'plays right into' the hands of this discount retailer
▼ + stars: | 2024-05-07 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

"That all really kind of plays right into Ollie's hands." Her $92 price target implies about 17%% upside from Monday's close. The average analyst has a buy rating and target for shares suggesting upside of more than 12%, according to LSEG. Ollie's shares are lagging the broader market in 2024 with a gain of almost 5% versus the S & P 500's 9% gain. OLLI 1Y mountain Ollie's shares over the past 12 months.

Persons: Anthony Chukumba, it's, Price, Melanie Nuñez, Ollie's, Nuñez, Chukumba, OLLI, Truist's Scot Ciccarelli, Ciccarelli, TJ Maxx, BofA's Nuñez, Chukumba's, FirstCash Organizations: Capital, Federal, Amazon, Walmart, Bank of America, Wall, Ross Locations: McDonald's, Harrisburg , Pennsylvania, Monday's, Ollie's

☆ Husband of American woman missing in Spain arrested, FBI says
▼ + stars: | 2024-05-06 | by ( Denise Royal | ) edition.cnn.com time to read: +3 min

CNN —The husband of Ana Maria Knezevich Henao, a woman who was reported missing while in Spain in February, has been arrested in Florida, the FBI confirmed Monday. Knezevich Henao, 40, was reported missing in February after she failed to meet a friend in Madrid. Around the time she went missing, Rameau said she received a WhatsApp message from Knezevich Henao which read: “I met someone wonderful!! Two people who know the situation told CNN Knezevich Henao initially rented the apartment in Madrid from January 5 to February 5. It says David Knezevich is Serbian and Knezevich Henao is a native of Colombia and a project manager.

Persons: Ana Maria Knezevich Henao, David Knezevich, James Marshall, Marshall, Knezevich, Knezevich Henao, Juan Felipe Henao, Sanna Rameau, Rameau, “ I’m, ”, “, Henao, CNN Knezevich Henao, CNN’s Pau Mosquera, Al Goodman, Carlos Suarez Organizations: CNN, FBI, Broward County Sheriff's, Diplomatic Security Service, Miami International Airport, Miami Federal Court, Spanish National Police, US Customs, Knezevich, EOX Technology Locations: Spain, Florida, Fort Lauderdale , Florida, Broward County, Miami, Madrid, Her, Barcelona, Madrid’s, Salamanca, Serbia, Knezevich, South Florida, Colombia

☆ High Frequency Economics: Still see 2 rate cuts this year after April jobs report
▼ + stars: | 2024-05-06 | 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 EmailHigh Frequency Economics: Still see 2 rate cuts this year after April jobs reportCarl Weinberg, the chief economist and managing director of High Frequency Economics, discusses the softer-than-expected April jobs report in the U.S.

Persons: Carl Weinberg Locations: U.S

☆ Your vacation was ruined, and the company apologized — with a heartfelt note written by ChatGPT
▼ + stars: | 2024-05-05 | by ( Monica Pitrelli | Poonam Binayak | ) www.cnbc.com time to read: +6 min

'A pretty good job'For all its faults, ChatGPT "does a pretty good job" responding to customer complaints, Natasha said. A screenshot of a discussion about using ChatGPT to write reviews on Airhosts Forum, a website for Airbnb hosts. His company, which counts Priceline, Hopper and AvantStay as customers, uses AI to help customer service agents sound more professional, he said. More discovering itMichael Friedman, CEO of the family-run vacation rental company Simple Life Hospitality, said his company does not use AI to respond to customers. But after learning that other travel companies are, she decided to test ChatGPT with a real-life problem she recently faced.

Persons: Natasha, Reddit, Luca Zambello, Brad Birnbaum, Hopper, Birnbaum, Michael Friedman, …, Aw, Tokudaw, ChatGPT Organizations: CNBC, Airhosts, Airbnb, Mt Fuji Locations: TripAdvisor, Yelp

☆ Retailers jacked up prices and squeezed consumers. They might have just blinked
▼ + stars: | 2024-05-05 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +7 min

“There’s just less dollars for consumers to spend.”The challenge for retailers now is to shake consumers out of that frugal mindset. Retail spending has increased in seven of the past 10 months through March. “If you want to convince consumers to spend you have to give them a reason to do so. Lower prices are a clear opportunity to drive people into the store or online.”It’s a lever that Walmart, he said, has pulled forever. Clothing chain H&M told analysts during its most recent earnings call that it, too, would lower prices.

Persons: Sarah Wyeth, ”, Chad Lusk, Alvarez, ” Wyeth, “ There’s, they’re, Zak Stambor, Stambor, Joe Raedle, ” Stambor, “, ” Jesper Brodin, ” Brodin, ” Michaels, ” Ashley Buchanan, Michaels, Lars Daniel Ervér, Frida, Chuck, – CNN’s Bryan Mena Organizations: New, New York CNN —, Ikea, Shoppers, “ Retailers, CNN, Walmart, Ingka, “, Cheese, Stambor Locations: New York, Hallandale Beach , Florida

☆ Welcome to ‘the Tepid Twenties’? The US economy’s strength won’t be enough to boost global growth
▼ + stars: | 2024-05-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Invigorating growth is critical: When the economy expands, it improves standards of living, promotes innovation and makes households wealthier. Economic growth in Spain and France was stronger than expected last year. But the US is outperforming mainly for one key reason: Robust productivity growth. Productivity growth came in well below expectations in the first three months of the year, according to Labor Department data released last week. A “course correction” isn’t an even stronger US economy: Economic policymakers around the world need to address a range of key issues.

Persons: ” Kristalina Georgieva, ” Georgieva, ” Stephen Gallagher, Gallagher, “, ”, Hande Atay Alam, Recep Tayyip Erdogan, Israel Katz, John Williams, Neel Kashkari, Lisa Cook, Krispy Kreme, John’s, Austan Goolsbee Organizations: Washington CNN, Monetary, IMF, European Central Bank, Labor Department, Societe Generale, CNN, Reuters, Palantir Technologies, Tyson Foods, Marriott Worldwide, New York Fed, Disney, UBS, Duke Energy, Suncor, Bros, Minneapolis, Toyota, Uber, Anheuser, Busch InBev, Airbnb, Fox Corporation, News Corporation, Duolingo, Icahn Enterprises, New York Times Company, AMC Entertainment, Honda, Warner Bros Discovery, Warner Music Group, Hyatt, Hilton, Bank of England, US Labor Department, United Kingdom’s, National Statistics, University of Michigan, . Chicago Fed, China’s National Bureau of Statistics Locations: Europe, China, United States, Spain, France, Russia, Ukraine, Turkey, Israel, Gaza, Olesya, “ Turkey, Lyft, TripAdvisor

☆ As States Resist Federal Gender Rules, Schools Are Caught in the Middle
▼ + stars: | 2024-05-04 | by ( Amy Harmon | ) www.nytimes.com time to read: +1 min

But several Republican-led states have responded with an equally clear message for their schools: Steer clear of such policies. The clashing state and federal directives have put school officials in a difficult spot, education officials said. School boards may face federal investigations, litigation from parents, threats of a state takeover or lost funding. “No matter which way a school district goes, they’re going to possibly draw a lawsuit from someone in disagreement, whether that’s a federal regulator or a private person who doesn’t agree with how the district handled it,” said Sonja Trainor, managing director for school law at the National School Boards Association. “A lot of schools are going to be in no man’s land.”

Persons: Biden, Steer, ”, Sonja Trainor Organizations: Republican, National School Boards

☆ Apple iPhone weakness in China is overdone, says Wells Fargo analyst
▼ + stars: | 2024-05-03 | 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 EmailApple iPhone weakness in China is overdone, says Wells Fargo analystAaron Rakers, Wells Fargo Securities managing director, joins 'Fast Money' to talk the bull case for Apple, iPhones and AI, and what's ahead for the tech company.

Persons: Wells, Aaron Rakers Organizations: Wells Fargo Securities, Apple Locations: China, Wells Fargo

☆ Apple: Here's why Wedbush's Dan Ives is bullish on the stock
▼ + stars: | 2024-05-03 | 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 EmailApple: Here's why Wedbush's Dan Ives is bullish on the stockDan Ives, Wedbush Securities managing director, joins 'Squawk on the Street' to discuss Ives' overall thoughts on Apple's performance in China, when the company will see growth in China, and how vital Apple's next announcement will be.

Persons: Wedbush's Dan Ives, Dan Ives, Ives Organizations: Wedbush Securities Locations: China

☆ Rue21, a mall staple, files for bankruptcy and will close all of its stores
▼ + stars: | 2024-05-03 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Rue21, a mall staple for teen apparel, is going out of business and closing all 540 of its stores within the coming weeks. The retailer, which has about $200 million in debt and 4,900 employees, has been struggling financially in recent years despite a 2017 bankruptcy that the company hoped would turn Rue21 around. Its stores, which are located in 45 US states, will close within the next 4 to 6 weeks and “going out of business” sales are beginning soon. Express filed for bankruptcy last month and announced it was closing about 100 stores. 99 Cents Only Stores, a discount chain, also said in April it was going out of business.

Persons: New York CNN —, Michele Pascoe, Rue21, ” Pascoe, “, Neil Saunders, ”, Rue21 didn’t, Joann Organizations: New, New York CNN, GlobalData, CNN Locations: New York, Pittsburgh, ”

☆ China has a 'fake gold' problem — locals are getting scammed into buying artificial jewelry
▼ + stars: | 2024-05-03 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Gold bracelets at a gold jewelry store in the Zhejiang Province of China. Thousands of people in China have been duped into forking out money on "fake gold" — inferior or artificial gold — after trying to purchase so-called "999 gold" online, according to the government. The purest form of gold is commonly referred to as 999 gold, because it has gold content of 99.9%. "Fake gold is becoming a major problem in China as more Chinese are looking to put their savings into gold," said China Market Research Group's Managing Director Shaun Rein. Fake gold gets darker or reveals a greenish color when placed under flame, while pure gold turns brighter on exposure to heat.

Persons: Shaun Rein, Nikos Kavalis, Rein, Taobao, Pinduoduo Organizations: Visual China, Getty, Research, India, World Gold, Metals, ChinaFotoPress Locations: Zhejiang Province, China, scammers, Nantong

☆ Boeing has lost $32 billion since 2019, with no end in sight. How long can it keep losing money?
▼ + stars: | 2024-05-03 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Few companies have lost more than the $32 billion that Boeing has lost in the last five years. There’s a lot of work in front of us, but I’m proud of our team and remain fully confident in our future.”It’s not that Boeing’s problems aren’t serious. And the massive losses have resulted in the company’s debt level soaring, from $13 billion at the end of 2018 to $48 billion now. Even if customers could get their hands on Airbus jets right away, there are huge costs for Boeing customers to operate both their existing Boeing jets and a fleet of comparable Airbus planes at the same time. So after Alaska Air purchased Virgin America in 2016, it got rid of the Airbus jets Virgin was flying and became an all-Boeing airline.

Persons: “, ”, Richard Aboulafia, Ron Epstein, Dave Calhoun, ” It’s, Max, Uber, Brian West, “ We’re, Ben Minicucci, Calhoun, Epstein Organizations: New, New York CNN, Boeing, Bank of America, Alaska, Alaska Airlines Boeing, Max, Carnival Corp, Airbus, Airline, Alaska Air, Virgin America, Virgin, year’s, GM Locations: New York, it’s

☆ UBS upgrades TJX to buy from neutral
▼ + stars: | 2024-05-02 | 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 EmailUBS upgrades TJX to buy from neutralJay Sole, UBS managing director, joins 'Money Movers' to discuss why the gain from department stores will be more significant than previously thought if the balance between e-commerce and brick and mortar is net-negative optically, and more.

Persons: Jay Sole Organizations: UBS

☆ India election 2024: The indelible ink behind the world’s biggest election
▼ + stars: | 2024-05-02 | by ( Dhruv Tikekar | ) edition.cnn.com time to read: +7 min

The Election Commission uses indelible ink, or “voter ink”, to prevent fraud or duplicate votes. Sujit Jaiswal/AFP/Getty ImagesMore than 960 million people are eligible to vote in India’s election, the world’s biggest. “Indelible ink serves no other purpose,” said Irfan. The company now supplies indelible ink to more than 35 countries, including to Ghana beginning in the late 1970s. However, Ghana’s election commission recently announced it would phase out the use of indelible ink, opting for biometric verification methods instead.

Persons: CNN CNN —, ”, K Mohammed Irfan, Manish Swarup, Deepika Padukone, Sujit Jaiswal, Irfan, “, Ornit Shani, Shani, ” Shani, Prakash Singh, MVPL, Krishna Raja Wadiyar IV, Mukulika Banerjee, Rakesh Nair, Banerjee, haven’t, ‘ I’ve Organizations: CNN CNN, CNN, Getty, Universal, Bloomberg, London School of Economics, Reuters “ Locations: Neemrana, India, Mumbai, AFP, Mysuru, Karnataka, Chennai, Muzaffarnagar district, Uttar Pradesh, Mysore, Ghana, West Bengal

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