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☆ Talk of recession is dying down in corporate America
▼ + stars: | 2024-03-17 | by ( Alex Harring | ) www.cnbc.com time to read: +7 min

Ever since the Federal Rserve began raising interest rates in early 2022, corporations and investors have braced for how a recession might play out. The word recession came up on the fourth-quarter earnings calls of 47 companies in the S & P 500, according to market data platform FactSet. Almost half of the more than two dozen finance chiefs surveyed by CNBC said they expect the Federal Reserve to control inflation without a recession, a scenario known as a soft landing. Looking ahead to 2024, CFO Emma Giamartino said the Dallas-based company's full-year guidance is "contingent" on the Fed cutting short-term interest rates and the economy skirting a recession. "All indications are now that we're going to have more of a soft landing than a recession."

Persons: John Wall, Emma Giamartino, Giamartino, Richard Galanti, Galanti, Joseph Margolis, it's, Margolis, J, Thomas Hill, Marvin Ellison, Ellison Organizations: Federal, U.S, Cadence Design Systems, CNBC, Federal Reserve, Costco, Kirkland Signature, Hotels, Vulcan Locations: Dallas, Salt Lake City, North Carolina

☆ How Trump Is Scrambling to Raise Cash
▼ + stars: | 2024-03-16 | by ( Shane Goldmacher | Maggie Haberman | ) www.nytimes.com time to read: +1 min

But advisers to Mr. Trump’s campaign and his super PACs hope the charm offensive will eventually pay political and financial dividends. One of the most pressing issues facing Mr. Trump is the financial disparity he and allied groups now face with Mr. Biden and the Democratic Party. The Trump operation did not release a full total, but his campaign account and the Republican National Committee had around $40 million. Mr. Trump enters the general election ahead of Mr. Biden in public polls. But Mr. Biden has taken full advantage of one of the benefits of incumbency, both socking away cash and building out a political operation earlier than his challenger.

Persons: Donald J, Trump, Biden, Larry Ellison, Pepe Fanjul Organizations: Republican, Oracle, Democratic Party, Democrats, Republican National Committee, Mr Locations: schmoozing

☆ Larry Ellison and Elon Musk teaming up to bring AI to farming
▼ + stars: | 2024-03-13 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Larry Ellison announced the venture with Elon Musk on Oracle's earnings call on Monday. The tool will help farms plan, predict, and increase their agricultural output, Ellison said. AdvertisementElon Musk's SpaceX is teaming up with Larry Ellison's Oracle to help farms plan and predict their agricultural output using an AI tool. Larry Ellison said on Oracle's earnings call on Monday that it's collaborating with Musk and SpaceX to create the AI-powered mapping application for governments. "We're doing that again in concert with Elon Musk and SpaceX to do this kind of mapping," Ellison said, according to a transcript provided by Seeking Alpha.

Persons: Larry Ellison, Elon Musk, Ellison, —, Elon, Larry Ellison's Oracle, Musk, Tesla, SpaceX, John Deere, John Deere's, Jahmy Hindman, Oracle didn't Organizations: SpaceX, Oracle, Elon, Service, Alpha, Tesla, Business

☆ This winter was weirdly warm — and rough for retailers
▼ + stars: | 2024-03-13 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

The US just experienced the warmest "meteorological winter" on record, NOAA said last week. It also led to unpredictable consumer demand, causing headaches for retailers and other businesses. For Dick's, warmer weather means that sales skew toward lightweight fleeces rather than pricier down parkas, she said. A retailer in South Dakota surveyed by the Federal Reserve said that even though the warmer weather led to higher foot traffic, sales of winter gear and equipment fell. AdvertisementFrom major complications to minor inconveniences, it's looking like this winter could be a preview of what's to come thanks to the climate crisis.

Persons: Lauren Hobart, Hobart's, didn't, Hal Lawton, Lawton isn't, Raymond James, Lowe's, Marvin Ellison, Bill Boltz, Wisconsin's Organizations: NOAA, Service, National Oceanographic, Atmospheric Administration, Sporting, Tractor, Co, Raymond, Raymond James Institutional Investors, Federal Reserve, Climate Central Locations: NOAA's, East, Midwest, South Dakota

☆ Larry Ellison is $15 billion richer after Oracle's best day on stock market since 2021
▼ + stars: | 2024-03-12 | by ( Ari Levy | ) www.cnbc.com time to read: +2 min

Oracle founder Larry Ellison notched a $15 billion gain on Tuesday after shares of his software company had their best day in over two years and closed at a record. Oracle shares soared 12% to close at $127.54, after the software vendor reported fiscal third-quarter earnings that beat analysts' expectations. "We are building large numbers of data centers and some of those data centers are smallish, but some of those data centers are the largest AI data centers in the world." Over the past year, Oracle shares have now spiked 52%, lifting Ellison's worth by about $50 billion. Unlike Amazon's Jeff Bezos, Larry Ellison has been hanging onto all his stock rather than selling off chunks.

Persons: Larry Ellison, Ellison, Mark Zuckerberg, Warren Buffett, Jeff Bezos, FactSet, hasn't, Bezos Organizations: Oracle Inc, Oracle, Forbes, Boeing Locations: Hamilton , Bermuda, United States

☆ Oracle shares soar 13% on better-than-expected quarterly earnings
▼ + stars: | 2024-03-11 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Larry Ellison, co-founder and executive chairman of Oracle Corp., speaks during the Oracle OpenWorld conference in San Francisco on Oct. 22, 2018. Oracle reported quarterly earnings on Monday that exceeded Wall Street's expectations. Analysts were expecting $1.64 in adjusted earnings per share, according to LSEG. The company's cloud revenue, which is reported as part of the cloud services unit, rose 25% year-over-year to $5.1 billion, Oracle said. Prior to Monday's report, Oracle shares were up 8.7% for the year, slightly outperforming the S&P 500.

Persons: Larry Ellison, Oracle, Safra Catz, Catz, Ellison Organizations: Oracle Corp, Oracle, Revenue, Microsoft Locations: San Francisco, LSEG

☆ 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

Layla Elabed, campaign manager for Listen to Michigan, which spearheaded the protest vote against President Biden last week in Michigan. “Elections have a certain amount of momentum,” said Keith Ellison, Minnesota’s Democratic attorney general, who voted for Mr. Biden. Uncommitted Minnesota said it spent about $20,000 on the campaign since beginning last Monday. In Washington, organizers are pushing similar efforts to vote “uncommitted” in the state’s primary next week. It was not our first choice, but we have to let President Biden know that our votes are not to be taken for granted.”Nicholas Nehamas contributed reporting from Minneapolis.

Persons: Layla Elabed, Biden, Israel —, Mr, Uncommitted, Rashida Tlaib, Donald J, Donald Trump, ”, Elianne Farhat, Kamala Harris, “, Lauren Hitt, Cole Harrison, Trump, Keith Ellison, Ellison, Biden’s, Joe Biden, Abdullah Elagha, Harrison, Ilhan Omar, Rania Masri, —, uncommitted, Rami Al, ” Nicholas Nehamas Organizations: Democratic, Democratic National Convention, Somali, Trump, Uncommitted Minnesota, Hamas, Massachusetts Peace, Mr, “, Democratic Party, Colorado Palestine Coalition, Abandon Biden, Republican Party Locations: Michigan, Israel, Gaza, Colorado, Minnesota, Massachusetts, Cambridge, Colorado , Massachusetts, North Carolina, United States, American, Uncommitted Minnesota, In Minnesota, Georgia, Washington, Bothell, Minneapolis

Jimmy Kimmel returns as host for the fourth time, and the competition for best picture promises to be stiff. Best picture nominees include everything from Barbenheimer blockbuster summer duo "Barbie" and "Oppenheimer" to indie darling "Past Lives." There's still time to watch all 10 of the best picture nominees. Below, we'll show you all of your streaming options when it comes to where to watch every 2024 Oscars best picture nominee. In addition to best picture, the film is up for best original screenplay at the Oscars.

Persons: Jimmy Kimmel, Oppenheimer, There's, Jeffrey Wright, Percival Everett's, Thelonious, Monk, Ellison, Wright, Sandra Hüller, Justine Triet, Margot Robbie, Barbie, Jaap Buitendijk, Barbie Warner, Greta Gerwig, Ken, Ryan Gosling, America Ferrera, Oscar, Max, Paul Giamatti, Paul Hunham, Dominic Sessa, Da'Vine Joy Randolph, Peacock, Lily Gladstone, Robert De Niro, Leonardo DiCaprio, Martin, David Grann's, Scorsese, Mollie Burkhart, Bradley Cooper, Leonard Bernstein, Carey Mulligan, Felicia Montealegre, Jason McDonald, Maestro, Cooper, Mulligan, Cillian Murphy, J, Robert Oppenheimer, Christopher Nolan, Murphy, Robert Downey Jr, Emily Blunt, Teo Yoo, Greta Lee, Celine, John Magaro, –, Emma Stone, Bella Baxter, Stone, Mark Ruffalo, Christian Friedel, Rudolf Höss, Hedwig, ExpressVPN Organizations: Business, Dolby Theatre, MGM, Orion, Apple, Hulu, Warner Bros, Mattel, America, Osage, Osage Nation, FBI, Netflix, Manhattan Project, Paramount, Showtime, Searchlight, Disney Locations: Barbie, New England, Oklahoma, Los Alamos, New York, South Korea

☆ Premarket stocks: Retailers warn Wall Street to expect less shopping this year
▼ + stars: | 2024-03-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Lowe’s: The home improvement giant projected total sales of $84 billion to $85 billion for 2024 in fourth-quarter results reported on Tuesday. Mortgage rates edge closer to 7%, dampening start of spring homebuying seasonUS mortgage rates climbed for the fourth week in a row, inching closer to 7% just as peak homebuying season gets underway, reports my colleague Anna Bahney. “Mortgage rates continued their ascent this week, reaching a two-month high and flirting with 7% yet again,” said Sam Khater, Freddie Mac’s chief economist, in a statement. Since reaching a 20-year high of 7.79% in October, mortgage rates have been slowly falling. But in recent weeks, as the market absorbs expectations that the Federal Reserve will not cut its benchmark lending rate until later this year, mortgage rates have trended higher.

Persons: they’re, ”, Marvin Ellison, Macy’s, Tony Spring, Corie Barry, ’, ” Barry, Diksha Madhok, Hanna Ziady, “, Thamashi De Silva, Knight Frank, Read, Anna Bahney, Freddie Mac, Sam Khater, Freddie Mac’s, Khater Organizations: CNN Business, Bell, New York CNN — Companies, Federal Reserve, Commerce Department, United States’s, Gross, Capital Economics, “ Locations: New York, That’s, India

☆ In a bizarre British by-election, a pro-Palestinian firebrand just swept to victory
▼ + stars: | 2024-03-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

ROCHDALE, England - Feb 29: Workers Party of Britain candidate George Galloway speaks after being declared the winner in the Rochdale by-election on February 29, 2024. Christopher Furlong | Getty Images News | Getty ImagesStaunchly pro-Palestinian left-wing firebrand George Galloway on Thursday won a chaotic by-election in Rochdale, northwestern England that was defined by the Israel-Gaza conflict. ROCHDALE, England - Feb. 29, 2023: A man walks past a George Galloway election sign as residents begin to vote in the Rochdale by-election on February 29, 2024 in Rochdale, England. ROCHDALE, England - Feb. 19, 2024: People walk past pro-Palestinian graffiti in Rochdale on February 19, 2024 in Rochdale, England. Christopher Furlong | Getty Images News | Getty Images

Persons: George Galloway, Christopher Furlong, firebrand George Galloway, Galloway, Paul Tully, Azhar Ali, Ali, Conservative Paul Ellison Organizations: ROCHDALE, Workers Party of, Rochdale, Getty, Labour, Workers Party of Britain, Labour Party, Conservative Locations: England, Palestinian, Rochdale, Israel, Gaza, Britain's, ROCHDALE

☆ Salesforce's new data and AI hires are coming from areas of the country with 'high talent pools, low cost of living'
▼ + stars: | 2024-02-29 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +2 min

The company laid off 10% of its workforce, which had reached nearly 80,000 employees, last year. AdvertisementJust a year after Salesforce laid off nearly 10% of its workforce, the company's head count is beginning to creep back up. "We're investing into our most productive areas — AI and data," CFO Amy Weaver said this week on the company's fourth-quarter earnings call with investors. The company reported a non-GAAP operating margin of 30.5% for the fiscal year, above the 30% threshold that activist investors had pushed for. New hires, Weaver said, are being added to Salesforce in "cost-effective ways," such as hiring people from areas that have "high talent pools and low cost of living."

Persons: Salesforce, Marc Benioff, —, Amy Weaver, Weaver, Benioff, Larry Ellison —, Ellen Thomas Organizations: Service, SEC, New, Business, Oracle Locations: New York, San Francisco, Salesforce

☆ Jim Cramer explains why it's important to look for nuance during earnings season
▼ + stars: | 2024-02-28 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer reflected on the earnings season so far, saying investors shouldn't judge stocks based purely on figures from a financial report. he said, referring to earnings season. But comments from CEO Ted Decker about the home improvement giant's inventory made Cramer optimistic. Cramer predicted that TJX would see success despite less-than-ideal earnings where management issued light guidance. "I have no illusions about this issue — It's extremely unlikely that the headline process will actually change," Cramer said.

Persons: CNBC's Jim Cramer, It's, it's, Cramer, Ted Decker, Decker, Lowe's, Marvin Ellison, Ellison Organizations: CNBC

☆ Some shoppers are spending big money on 'craft ice' fridges and high-tech washing machines, Lowe's exec says
▼ + stars: | 2024-02-27 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

While most shoppers are more budget-conscious, Lowe's execs say some are spending big on appliances. One smart LG fridge that makes "craft ice" is a "top-seller despite retailing for over $2,500," one exec said. This fridge makes really nice ice. Lowe'sIndeed, one model in the LG line that makes the fancy ice has a list price of a whopping $4,299. "They're not afraid to invest in, for example, the GE Profile all-in-one washer-dryer combination that retails for over $2,500," Boltz said.

Persons: —, Lowe's, Marvin Ellison, They're, Bill Boltz, that's, Boltz, Katie Notopoulos, Notopoulos Organizations: LG, Service, Home Depot, GE, Wall Street Journal

☆ Warner Bros. Discovery halts merger talks with Paramount Global, sources say
▼ + stars: | 2024-02-27 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Discovery David Zaslav speaks during the New York Times annual DealBook summit on November 29, 2023 in New York City. Warner Bros. Warner Bros. Warner Bros. Paramount Global is also trading close to a 52-week low as it prepares to announce its earnings Wednesday.

Persons: David Zaslav, David Ellison, Byron Allen, isn't, Bob Bakish, Tom Rogers Organizations: Warner Bros, New York Times, Paramount Global, Skydance Media, Media, Comcast, CNBC, Paramount, Wall Street, Warner Bros . Discovery, Discovery Locations: New York City

☆ Jim Cramer says Wall Street initially got Lowe's quarter and guide wrong. Here's why
▼ + stars: | 2024-02-27 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +2 min

Cramer said Stanley Black & Decker , a holding the CNBC Investing Club portfolio, is a buy off these Lowe's numbers. Macy's : The department store chain reported better than expected quarter but offered conservative guidance that missed forecast. Competitor Applovin is kind of crushing Unity, Cramer said. Workday : The provider of enterprise cloud applications for finance and human resources reported a better-than-expected quarter but its guidance was softer. Cramer said Workday, ServiceNow and Club holding Salesforce are the "three best software-as-a-service companies in the world."

Persons: Jim Cramer's, Marvin Ellison, Jim Cramer, Cramer, Stanley Black, Decker, Jeff Gennette, Tony Spring, There's, Kelly Steckelberg Organizations: CNBC, Club, Costco, Unity Software, Unity

☆ Lowe's beats earnings estimates as sales fall — and the company expects revenue to slide again this year
▼ + stars: | 2024-02-27 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

Lowe's on Tuesday beat Wall Street's quarterly earnings and revenue estimates, even as the company continued to see customers tackle fewer home projects. It said it expects total sales of between $84 billion and $85 billion, which would be a drop from $86.38 billion in fiscal 2023. It anticipates comparable sales will decline between 2% and 3% compared with the prior year, and expects earnings per share of approximately $12 to $12.30. Excluding the costs associated with Lowe's sale of its Canadian retail business, earnings per share were $2.28. During the fourth quarter, Lowe's spent $404 million on share buybacks and paid $633 million in dividends.

Persons: Marvin Ellison, Lowe's, Wall Organizations: LSEG, CNBC PRO Locations: Bloomsburg, Lowe's

☆ Bikepacker Turned His Lifestyle Into a Business That Covers His Costs
▼ + stars: | 2024-02-26 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

They started running at me shouting — most of them had machetes,” Ridley told Business Insider in a video call. AdvertisementLiving on $6 a dayRidley, now 33, is a full-time “bikepacker” who has been traveling the world for eight years. His solo travels started with nights in hostels and traveling by buses and trains. Ridley’s YouTube channel, where he shares short smartphone videos of his rides, began growing around the pandemic. Darsy turned her hobby of documenting their travels into a professional YouTube channel that has become her source of income.

Persons: —, Tristan Ridley, “, ” Ridley, Ridley, bikepacker ”, ”, Tristan Ridley “, I'm, ” —, Tristan Ridley Ridley, Sophie Darsy, Ryan Ellison, Darsy, influencer Gaby Beckford, Valtteri Heinila, Heinila, “ I'm Organizations: Service, Business, YouTube Locations: Papua New Guinea, Africa, Asia, Europe, Oceania, Australia, Southeast Asia, China, Central Asia, Stockholm, Helsinki, Singapore

☆ Judge allows Sam Bankman-Fried to keep his new lawyers after prosecutors warn of conflict of interest
▼ + stars: | 2024-02-21 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +4 min

Read previewUS District Judge Lewis Kaplan ruled that Sam Bankman-Fried could retain his new lawyers despite a noted conflict of interest. Questioned thoroughly by Kaplan, Bankman-Fried affirmed that he wanted to keep his new attorneys, waiving his right to "conflict-free representation," as Kaplan put it. They're expected to help Bankman-Fried with his sentencing hearing, scheduled for late March. In their February letter, prosecutors said Kaplan should hold a Curcio hearing, where the judge could ask Bankman-Fried and his lawyers questions to determine whether a legitimate conflict of interest exists and whether they would waive it for the sentencing hearing. This has the potential to create a conflict in the representation of Bankman-Fried and Mashinsky," prosecutors wrote in the letter.

Persons: —, Lewis Kaplan, Sam Bankman, Fried, Kaplan, Marc Mukasey, Torrey Young, waiving, Mukasey, Young, They're, Alex Mashinsky, Caroline Ellison, Mashinsky, Prosecutors, Michael Mukasey, George W, Bush, Eddie Gallagher, Eric Trump, Matt Gaetz, Alexandra Shapiro, Shapiro, Nicolas Roos Organizations: Service, Bankman, Business, Justice Department Prosecutors, Alameda Research, Prosecutors, Mashinsky, Navy, New, Trump Locations: Manhattan, Alameda, New York

☆ Paramount Global to lay off 800 employees after record Super Bowl ad revenue and ratings
▼ + stars: | 2024-02-13 | by ( Liam Reilly | ) edition.cnn.com time to read: +2 min

CNN —Paramount Global, the owner of broadcast and cable TV networks, announced Tuesday it will lay off hundreds of staffers as the media giant looks to reduce costs and grow revenue. The news comes just days after its CBS network saw record-breaking advertising sales and the highest-rated telecast for the Super Bowl. The company’s chief executive, Bob Bakish, announced the layoffs in a memo to employees Tuesday obtained by CNN. While Bakish did not specify the number of layoffs, sources familiar with the matter told CNN around 800 employees, or roughly 3% cut of the company’s workforce, will be affected. Paramount is the latest media conglomerate to lay off staffers in 2024.

Persons: Bob Bakish, Bakish, —, ” Bakish, Shari Redstone, David Zaslav, David Ellison’s Skydance, Condé Nast Organizations: CNN, Paramount Global, CBS, Super, National, Warner Bros, Discovery, RedBird, Paramount, Bloomberg, Los Angeles Times, TIME, Business, Condé, Forbes, The New York Daily News

☆ The most expensive home for sale in the U.S. goes up for $295 million in Naples, Florida
▼ + stars: | 2024-02-10 | by ( Ray Parisi | ) www.cnbc.com time to read: +7 min

The most expensive home for sale in the U.S. hit the market this week for $295 million. Gordon Pointe, as it's called, is a roughly 9-acre compound in Naples, Florida, on the Gulf Coast, in an affluent enclave called Port Royal. The mega-listing includes a main house that spans about 11,500 square feet, with six bedrooms. Two guest houses, each over 5,000 square feet, bring the estate's total interior living space to 22,800 square feet. The residence sits high atop 217 West 57th Street, overlooking Central Park, spanning three floors and over 17,500 square feet.

Persons: Gordon Pointe, Leighton Candler, Corcoran, Candler, Gordon, John, Rhodora Donahue, John Donahue, Hermes, Dawn McKenna, McKenna, she's, It's, Cody Boone, Ryan Serhant, Serhant, naysayers, Donna Olshan, Karen Winnick, Gary Winnick, Kurt Rappaport, that's, Jonathan Miller, Miller Samuel, Jeff Bezos, Clodagh Kilcoyne, Ken Griffin, Larry Ellison, Marc Andreessen, Jim Bartsch, Jerry Perenchio, Miller, Lachlan Murdoch, Rupert Murdoch Organizations: Royal, CNBC, U.S . Army Corps of Engineers, Dawn McKenna Group, Coldwell, Coldwell Banker Realty, St, SERHANT Studios, Encantada, U.S, Washington , D.C, Reuters, Amazon, Oracle, Bel Air, Fox Corp Locations: Gordon Pointe, U.S, Naples , Florida, Gulf, New York, of Mexico, Pittsburgh, Port Royal, America, New York City, Central, Manhattan, Los Angeles, Bel, Washington ,

☆ Brooke Ellison, Prominent Disability Rights Advocate, Is Dead at 45
▼ + stars: | 2024-02-09 | by ( Sam Roberts | ) www.nytimes.com time to read: +1 min

Brooke Ellison, who after being paralyzed from the neck down by a childhood car accident went on to graduate from Harvard and became a professor and a devoted disability rights advocate, died on Sunday in Stony Brook, N.Y., on Long Island. Her death, in a hospital, was caused by complications of quadriplegia, her mother, Jean Ellison, said. As an 11-year-old, Brooke had been taking karate, soccer, cello and dance lessons and singing in a church choir. But on Sept. 4, 1990, she was struck by a car while running across a road near her home in Stony Brook. After waking from a 36-hour coma, she spent six weeks in the hospital and eight months in a rehabilitation center.

Persons: Brooke Ellison, Jean Ellison, Brooke Organizations: Harvard Locations: Stony Brook, N.Y, Long

The settlement is likely to benefit as many as 500,000 residents whether they have insurance or not, and it covers all Lilly brand-name insulin products, Ellison said at a news conference. Litigation remains pending against two other manufacturers named in the 2018 lawsuit, Sanofi-Aventis and Novo Nordisk. The American Diabetes Association says more than 8 million Americans use insulin, which the body needs to convert food into energy. President Joe Biden's 2022 Inflation Reduction Act capped out-of-pocket costs of insulin to people on Medicare to $35 a month, but only for seniors. Novo Nordisk last year also announced plans for insulin price cuts starting this year.

Persons: Eli Lilly, Lilly, Keith Ellison, Ellison, ” Ellison, Joe Biden's, Alec Smith, Nicole Smith, Holt, ” Organizations: PAUL, —, Sanofi, Aventis, Novo Nordisk, American Diabetes Association, York, Medicare Locations: — Minnesota, Minnesota, California , Illinois, Arizona, Utah

☆ Jeff Bezos is just $8 billion away from overtaking Elon Musk to become the world's wealthiest person once more
▼ + stars: | 2024-02-05 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Jeff Bezos is not far off overtaking Elon Musk to become the world's richest person once more. AdvertisementJeff Bezos is only about $8 billion away from overtaking Elon Musk as the world's wealthiest person following a surge in Amazon stock — and a slump for Tesla — this year. Meanwhile, Musk holds about 411 million Tesla shares, or a roughly 13% stake in the automaker, worth about $76 billion. It's certainly striking that Musk's net worth has crashed from about $340 billion at its peak in late 2021 to about $200 billion today. However, Tesla stock is still up more than six-fold since the start of 2020, while Amazon shares have less than doubled.

Persons: Jeff Bezos, Elon Musk, Mark Zuckerberg, Warren Buffett, —, Tesla, Bezos, Musk, Mark Zuckerberg's, Buffett, Larry Ellison, Larry Page, Sergey Brin, Brin Organizations: Elon, Bloomberg, Service, Tesla, Amazon, SpaceX, Twitter, Big Tech, Meta, Berkshire Hathaway Locations: Delaware, Berkshire

☆ Former Tesla director Larry Ellison invited Elon Musk to Hawaii to 'dry out' from drugs, report says
▼ + stars: | 2024-02-04 | by ( Katherine Tangalakis-Lippert | Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Elon Musk's drug use worries his business associates and board members, The Wall Street Journal reported. Former Tesla director Larry Ellison urged Elon Musk to visit Hawaii to "dry out," per The Journal. Ellison's proposal came amid increasing concerns among Musk's friends and associates that Musk's drug use was getting worse, per The Journal. Despite proclaiming that he doesn't "like doing illegal drugs," Musk's drug use has previously put him and his companies on notice. The company spent $5 million in taxpayer money to properly train its employees on the rules, the Journal reported.

Persons: Elon, Larry Ellison, Elon Musk, Musk's, —, Musk, Ellison, Alex Spiro, Christopher Muzzi, Joe Rogan Organizations: Street Journal, Service, Elon, Wall Street, Oracle, Hollywood Hills, Business, The, NASA, SpaceX, CNBC Locations: Hawaii, Hollywood, Silicon Valley

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