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"We will tax capital gains at a rate that rewards investment in America's innovators, founders and small businesses," the Democratic presidential nominee said at a rally in North Hampton, New Hampshire. The Wall Street Journal was first to report Harris' capital gains tax plan. Long-term capital gains, or assets held for more than one year, are currently taxed at a maximum rate of 20%. The newly minted Democratic presidential nominee has so far largely kept her economic proposals in line with those of her current boss. Harris has not announced any plans to diverge from Biden's proposal, which would tax unrealized gains for households worth at least $100 million.
Persons: Kamala Harris, Joe Biden, Harris, Ro Khanna, Biden, Khanna Organizations: Democratic, Democratic Party Locations: North Hampton , New Hampshire
The group was asked to share which topics they're most focused on between AI, worker well-being, diversity, equity, and inclusion, and C-suite transformation. While worker well-being and AI were the most commonly cited trends, there's clear overlap and intersectionality across all four topics. 'We're trying to understand a more holistic view of worker well-being'Shane Koller, senior vice president and chief people officer, AncestryThe two topics we're most focused on are worker well-being and DEI. As part of this new organizational structure, we announced our chief AI and data officer, one individual who would help bring together a cohesive strategy and vision for the organization's AI. A big focus for us is worker well-being.
Persons: Jack Azagury, nobody's, Shane Koller, we've, We've, Borgonovo, Alicia Pittman, Anant Adya, Marjorie Powell, Neil Murray, Maggie Hulce, Chen, it's, , — there's, Kenon Chen, Sharawn Tipton, LiveRamp, there's, I'm, There's Organizations: Accenture, Mastercard, Infosys DEI, Infosys, AARP, Clear Locations: Tipton
Personal computer maker Dell Technologies is again exploring a possible sale of SecureWorks , after unsuccessful earlier attempts to find a buyer for the U.S. cybersecurity firm, according to people familiar with the matter. Dell, which has shed many non-core assets in recent years, owns 79.2% of SecureWorks by holding all of the company's class B shares, according to recent filings. Dell explored a sale of SecureWorks in 2019, part of an effort to trim Dell's debt pile, Reuters reported at the time. Dell acquired SecureWorks for $612 million in 2011, before listing its shares through an initial public offering in New York in 2016. The company's shares have risen by about 46% so far this year, outperforming an 18% rise in the S&P 500 index.
Persons: Michael Dell, Morgan Stanley, Piper Sandler, Dell, outperforming Organizations: Dell Technologies, U.S, Dell, SecureWorks, Reuters Locations: , Texas, SecureWorks, Atlanta , Georgia, cyberattacks, New York
Sharawn Tipton is the chief people and culture officer at LiveRamp, a data-collaboration software-as-a-service company, overseeing human resources and culture across 1,400 employees globally. Instead of telling our team members not to use ChatGPT and putting all this governance around it, we want to hear how they are thinking about using it. We need to be open and honest with our team members about what this means for them. We need to be future-focused and bring team members along on that journey. What are the synergies there, and how do we utilize that to bring out the very best in our team members?
Persons: Sharawn Tipton, , I've, Tipton, we've, We're, we're Organizations: Service, BI, Group, National Society of Black Engineers, Women Locations: Oakland , California, LiveRamp
Can the G.O.P. Really Become the Party of Workers?
  + stars: | 2024-08-24 | by ( Noam Scheiber | ) www.nytimes.com   time to read: +1 min
The most surprising moment of this year’s Republican National Convention may have come on its first night, when the president of the Teamsters railed in prime time against corporate elites and denounced a “war against labor” by business groups. The gasps from some in the hall were almost audible on television. But in many ways, it was a little-noted speech the week before, by Senator Josh Hawley of Missouri, that was more revealing about the party’s evolving relationship with organized labor. If anything, Mr. Hawley, a rising Republican star who is one of the Senate’s most conservative members, seemed to outflank the Teamsters’ leader. His speech, delivered at the National Conservatism Conference, criticized Republicans who “cheerleaded for corporate tax cuts and low barriers for corporate trade, then watched these same corporations ship American jobs overseas.” Mr. Hawley concluded that, “in the choice between labor and capital,” his party must “start prioritizing the workingman.”
Persons: Josh Hawley, Hawley, , Mr, Organizations: Republican, Convention, Teamsters, National Conservatism Conference Locations: Josh Hawley of Missouri
A striking Teamsters union worker pickets outside Canadian National Railway's (CN) headquarters after being locked out by the company in Montreal, Quebec, Canada August 22, 2024. REUTERS/Evan BuhlerWorkers at Canadian National Railway will begin returning to work on Friday, the Teamsters union said, hours after the Canadian government moved to end an unprecedented rail stoppage. In a new statement during the early hours on Friday, the Teamsters union posted on X that it had taken down picket lines at CN. The rail companies previously said they were forced into the lockouts to avoid strikes at short notice. Paul Boucher, head of the Teamsters rail union, had accused CN and CPKC of being "willing to compromise rail safety and tear families apart to earn an extra buck".
Persons: Evan Buhler, CPKC, Steven MacKinnon, MacKinnon, Jonathan Abecassis, Justin Trudeau, Trudeau, Paul Boucher, Jagmeet Singh Organizations: REUTERS, Evan Buhler Workers, Canadian National Railway, Teamsters, Canadian Pacific, Canadian Industrial Relations, Canadian Pacific Kansas City, Canadian, Labour, CN, Canadian Broadcasting Corp, Liberal, Reliant, Canadian Manufacturers, New Democratic Party, Ottawa Locations: Montreal, Quebec, Canada, Canadian Pacific Kansas City, United States, Toronto, Vancouver
watch nowAs the 2024 U.S. elections reach their home stretch, crypto companies are opening their wallets to try and influence the results. Nearly half of all the corporate money flowing into the election has come from the crypto industry, according to a report this week from the nonprofit watchdog group Public Citizen. More than 90% of the corporate crypto cash that's been raised was brought in this election cycle. Public Citizen's report found that of the 42 primary races that attracted money from crypto-backed super PACs, the candidate picked by the crypto industry won 36. "When Fairshake and its affiliates spend money to influence races, either by attacking crypto skeptics or boosting crypto supporters, the ads don't mention crypto at all," said Claypool.
Persons: Biden, Donald Trump, Rick Claypool, Coinbase, Andreessen Horowitz, Crypto, Brian Armstrong, Fairshake, It's, Claypool, Chuck Schumer, Kamala Harris's, Joe Biden, Harris, Faryar Shirzad, Trump, CNBC hasn't Organizations: Public Citizen, Securities and Exchange Commission, Republican, Senate, Supreme, Citizens, Federal, PAC, Public, CNBC, Trump, White Locations: Nashville , Tennessee, New York, California, cryptocurrencies, San Francisco, Nashville, United States
Both candidates’ plans would probably raise the deficit and increase demand, including through government spending and tightening the labor market, Joe Brusuelas, chief economist at RSM US, told CNN via email. Trump has so far not released as detailed an economic plan as Harris. Risks of fueling demandA central part of Harris’ economic plan is making housing more affordable. “The problem right now is too many people chasing too few houses,” Justin Wolfers, professor of public policy and economics at the University of Michigan, told CNN. Economists have told CNN that businesses would be forced to raise wages and prices.
Persons: what’s, Kamala Harris, Donald Trump, Harris, Trump, Joe Brusuelas, Brusuelas, Harris ’, ” Marc Goldwein, ” Goldwein, , , Biden, Joe Biden, ” Justin Wolfers, Michelle Holder, Holder, , ’ Trump, ” Harris Organizations: CNN, RSM, Budget, Child Tax, , Federal Reserve, Tax Foundation, Social Security, University of Michigan, John Jay College, Center, American Progress Fund, Peterson Institute for International Economics, National Guard Locations: , New York, China
Read previewDealmakers have always been the stars of private equity. AdvertisementKevin Desai, partner and private equity sector leader at PwC PWCBut in the current climate, portfolio-operations professionals are gaining esteem. AdvertisementPrivate equity 3.0Rising interest rates nearly two and a half years ago ushered in a new economic reality that hit private equity firms right in the pocket. Since private equity relies on debt to boost returns, the first option is off the table. These people are taking their talents to private equity firms to manage smaller companies using an already proven playbook for technological transformation.
Persons: , you've, Marc Rowan, Rowan, Kevin Desai, Desai, I've, What's, they're, quants, we've Organizations: Service, Business, PricewaterhouseCoopers, University of Chicago, Walmart, Nike, Harvard Business Locations: dealmaking
“You walk in, you say, ‘You want to quit?’ They go on strike,” Trump said of Musk, who is CEO of the EV car maker Tesla and SpaceX. It is illegal to fire workers who threaten to strike, because the right to strike is protected under federal labor law. “When we say Donald Trump is a scab, this is what we mean,” UAW President Shawn Fain said in a Tuesday statement on the new charges. But another major U.S. labor union, the Teamsters, has yet to make an endorsement. Tesla has clashed with union proponents for years, and Tesla workers remain without a union.
Persons: Donald Trump, Elon Musk, ” Trump, Musk, , ’ ” Trump, Trump, Shawn Fain, Kamala Harris, Harris, Sean O’Brien, ” O’Brien, , Tesla Organizations: United Auto Workers, National Labor Relations Board, , EV, SpaceX, Twitter, UAW, CNBC, Republican, Teamsters, Republican National Convention, Companies, RNC, NLRB Locations: Milwaukee
Read previewThis as-told-to essay is based on a conversation with Andro Lindsay, a 48-year-old who moved from Santiago, Chile, to Helsinki. My relationship with Finland started over 20 years ago — I've been a part of several businesses with links to Finland, and some of my best friends are Finns. I've expanded my work to include sustainable mining, green hydrogen, and more. AdvertisementMy daughters fell in love with Finland as soon as we arrivedLindsay and his daughters. We all fell in love with Finnish culture, and we couldn't be happier here.
Persons: , Andro Lindsay, It's, I've, Finn, Janne, Lindsay, Andro Lindsay I'm, I'm Organizations: Service, Business, Technical Research, of Finland, Helsinki Partners Locations: Santiago, Chile, Helsinki, Finland, Finnish, Santiago ., Seurasaari, Hietaranta
Trump’s plan for blunting Harris’ momentum, some Democrats believe, could reprise elements of the 1988 presidential campaign that George H.W. “I think the Harris campaign has to be prepared for it.”The two sides are already hotly contesting the terrain of strength. Celinda Lake, a Democratic pollster who conducted surveys for Biden’s 2020 campaign, said his strength deficit to Trump had become a nearly insurmountable obstacle for his 2024 campaign. The surveys have also found a huge gender gap in the assessments of whether Harris and Trump are strong. Most important, voters have reached these initial assessments of Harris’ strength before Republicans have really begun their campaign to portray her as weak.
Persons: CNN — Kamala Harris, Donald Trump, Joe Biden, , Harris, Trump, , Democratic pollster Evan Roth Smith, “ Kamala Harris, , it’s, blunting Harris, George H.W, George H.W . Bush, Lee Atwater, Michael Dukakis, Tad Devine, Dukakis, , She’ll, ” Trump, ” Harris, Kamala Harris, Biden —, Biden, Nancy Pelosi, Nikki Haley, Marquette, “ Trump, Whit Ayres, Ayres, Harris blunts, ” Lake, “ Joe Biden, White, she’ll, MAGA, Devine, Republicans pilloried Dukakis, Willie Horton, Horton, Bush, ” Devine, ” Ayres, won’t, Roth Smith, , Hulk Hogan, Kid Rock, Dana White Organizations: CNN, White, Voters, Democratic, Massachusetts Gov, Trump, Fox News, Marquette Law School, Biden, Marquette Poll, CBS, New York Times, Gallup, Republican, Siena, Republicans, MAGA Inc, Politico, , Fighting Locations: George H.W ., Marquette, Siena, Michigan , Pennsylvania, Wisconsin, Celinda, Massachusetts, San Francisco, California, “ San Francisco
CNN —Voters keep telling pollsters that their economic insecurities are the biggest issue in the 2024 election. Former President Donald Trump will try to make a case against Kamala Harris’ role in the Biden economy on Wednesday in North Carolina. President Joe Biden dedicated his domestic agenda to restoring economic fairness and sought to revive manufacturing and repair the country’s crumbling infrastructure. As the effective incumbent in this race, Harris is vulnerable to any sudden shifts in the economic outlook. But with Trump seeking an opening to define her negatively — especially on the economy — Harris must act fast.
Persons: Donald Trump, Kamala Harris, Biden, Trump, Joe Biden, Harris, Kamala, He’s, Price, , Biden Administration’s, , , ” Harris, ” Trump, hasn’t, “ You’ve, Scott Jennings, Anderson Cooper, “ You’re, Brad Todd, CNN’s Kasie, he’s, ” Todd, Kevin McCarthy, Elon Musk, Sen, JD Vance, Harris ’, Bill Clinton, Barack Obama, Clinton, Obama, Obama –, , — Harris, Tim Walz, She’s Organizations: CNN — Voters, Trump, Home Depot, Republican, Democratic, Biden, CNN, Fox News, Air Force, Democratic National Convention, NPR, PBS, Marist, New York Times, Siena College, Minnesota Gov, pharma Locations: North Carolina, Asheville , North Carolina, Maryland, Raleigh, Ohio, Chicago, Nevada, Phoenix, California, States, Pennsylvania, Michigan, Wisconsin
Management blamed "higher interest rates and greater macroeconomic uncertainty" for pressuring consumer spending on home improvement projects. The recent data certainly supports the idea of a rate cut at the Fed's mid-September meeting. However, that's weeks away, we know things can turn on a dime in the data and the stock market. Lower rates can certainly impact the stock market — but when it comes to picking individual stocks, we remain focused on earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Thursday's, Stanley Black, Decker, Stifel, bode, Russell, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, PPI, Management, Dow, Home Depot, Trade, Costco, Depot, CNBC, New York Stock Exchange, Getty Locations: U.S, New York City
Read previewThis as-told-to essay is based on a conversation with Andro Lindsay, a 48-year-old who moved from Santiago, Chile, to Helsinki. My relationship with Finland started over 20 years ago — I've been a part of several businesses with links to Finland, and some of my best friends are Finns. I've expanded my work to include sustainable mining, green hydrogen, and more. AdvertisementMy daughters fell in love with Finland as soon as we arrivedLindsay and his daughters. We all fell in love with Finnish culture, and we couldn't be happier here.
Persons: , Andro Lindsay, It's, I've, Finn, Janne, Lindsay, Andro Lindsay I'm, I'm Organizations: Service, Business, Technical Research, of Finland, Helsinki Partners Locations: Santiago, Chile, Helsinki, Finland, Finnish, Santiago ., Seurasaari, Hietaranta
“I think we can all relate to this,” White House domestic policy advisor Neera Tanden told reporters Friday. Dubbed the “Time is Money” initiative, the actions will make it easier for consumers to cancel subscriptions, get refunds, submit health care and insurance forms online, and access high-quality customer service. Another existing effort cited by the White House is a June 2023 FTC proposal to target companies that use deceptive customer feedback practices, like fake reviews. None of the actions that make up the “Time is Money” initiative will require congressional approval, a senior administration official said. The White House has pursued aggressive antitrust regulations and taken a highly skeptical approach to crypto currencies, both of which have rankled Wall Street.
Persons: Neera Tanden, , Biden, Kamala Harris, Broad, Harris, ” Tanden, policyholders, Xavier Becerra, Julie Su, Organizations: Biden, House, Democratic, Consumer Financial Protection Bureau, Federal Communications Commission, Federal Trade, FTC, of Health, Human Services, of Labor, Department of Transportation, Republicans, Representatives, White House
Even though Trump Media & Technology Group (DJT) is valued at $5 billion, the Truth Social owner revealed Friday evening it made just $837,000 in revenue last quarter. But Trump Media is hoping to turn things around by building a streaming business catering to conservatives. Trump Media wants ‘neglected’ contentLast week, Trump Media launched Truth+, a TV streaming platform available on Android, iOS and the Web versions of Truth Social. Trump Media said it will have the right to secure the source code in the future for the streaming technology. Trump not only serves as the chairman of Trump Media, he is the dominant shareholder, with 114.75 million shares.
Persons: Donald Trump’s, Trump, Kamala Harris, , , , Devin Nunes, ” Nunes Organizations: New, New York CNN, Trump Media & Technology, Trump Media, Trump, White House, Fox News, ” Trump Media, Big Tech, Amazon, Netflix, Republican, ” Trump Locations: New York, Silicon Valley
While there was some demand for protection against the prospect of volatility reemerging, overall sentiment across Wall Street had gotten more bullish. Until Wall Street can be sure that the consumer will hold on (or not), conviction is easily shaken. After years of weird times and outsize gains, Wall Street is dancing on a knife's edge. After years of weird times and outsize gains, Wall Street is dancing on a knife's edge. What happened on Monday was a sudden realization that the new structure may assert itself before Wall Street imagined it would.
Persons: , Jerome Powell, we've, they'd, corporates, Dow, Mandy Xu, Cboe's, Wall, Torsten Slok, Slok, Shake, Kevin Gordon, Charles Schwab, they've Organizations: Dow Jones, Bank of Japan, Big Tech, Federal Reserve, Nasdaq, Wall, Apollo Global Management, Corporations, Companies Locations: Asia, Japan, Mexico
Rather than developing its own AI models, JPMorgan designed LLM Suite to be a portal that allows users to tap external large language models — the complex programs underpinning generative AI tools — and launched it with ChatGPT maker OpenAI’s LLM, said the people. ChatGPT banThe bank is giving employees what is essentially OpenAI’s ChatGPT in a JPMorgan-approved wrapper more than a year after it restricted employees from using ChatGPT. The number of uses for generative AI are “exponentially bigger” than previous technology because of how flexible LLMs are, Heitsenrether said. Ultimately, the generative AI field may develop into “five or six big foundational models” that dominate the market, she said. Heitsenrether charted out three stages for the evolution of generative AI at JPMorgan.
Persons: ” Teresa Heitsenrether, , ChatGPT, Morgan Stanley, Jamie Dimon, Dimon, JPMorgan didn’t, Heitsenrether, , “ We’ve, ” Heitsenrether, it’s, — CNBC’s Leslie Picker Organizations: JPMorgan Chase, CNBC, JPMorgan, Apple, Accenture, Citigroup Locations: U.S
Here’s a look at what voters had to say as part of four different groups: Trump loyalists, center-right voters conflicted about Trump, young progressives and traditional Democrats. But a group of these women did admit that the decision by Democrats to swap out Biden for Harris does concern them. “My concern about Trump is him making too aggressive of choices and us not being able to recover from it. But that does make me nervous because, did we vet everything that’s going to happen?” said Alyssa, a 29-year old woman who is still undecided on how she’s voting this fall. That’s powerful.”Traditional Democrats think Biden had to goThat support for Biden hanging up his political spikes extended to the group of traditional Democrats too.
Persons: Donald Trump, Kamala Harris, That’s, Elise Jordan, Trump, Harris, — they’re, Joe Biden’s, Tara, Biden, , ” Kelly, we’ve, , Amy, , ” Mary, “ Trump, Kelly, they’ve, they’re, Alyssa, it’s, Dawn, she’s, Karen, ” Karen, he’s, Kamala, ” Young, Nicholas, I’ve, Joe, “ It’s, we’re, ” Myra, Brett, “ I’m, Richard, Jolenta, wasn’t, ” Richard Organizations: Wisconsin, MSNBC, Trump loyalists, Trump, Kia, Biden Young, Democrats, Hamas, Biden Locations: Wisconsin
Former President Donald J. Trump keeps adding new tax cuts to his list of campaign promises, and their projected costs keep piling up. Independent analyses suggest Mr. Trump’s plans could add close to $4 trillion over the next decade to America’s already fast-growing national debt, even after factoring in additional revenues from new taxes he wants to impose on imports. It is impossible to make a similarly precise estimate for Vice President Kamala Harris, Mr. Trump’s Democratic opponent this fall. She has not laid out any tax or spending plans, or other economic policy proposals, with enough detail to estimate whether they would add to deficits or reduce them. But on Friday, after this article published online, Harris campaign officials said they would point to President Biden’s most recent budget proposal as an indicator of Ms. Harris’s future fiscal policy plans.
Persons: Donald J, Trump, Trump’s, Kamala Harris, Harris, Biden’s Organizations: Trump’s Democratic
PitchBook forecast in a May report that venture firms would raise less than $200 billion in 2024, a 48% drop from the industry's peak in 2021. "They may not see any carry dollars for a long time, maybe into full deployment to the next fund," the growth-stage principal said. AdvertisementBut this type of internal competition, including deal theft and sabotage, has always existed, the growth-stage principal added. 'A ton of people looking to get out everywhere'As the market continues to correct itself, more turnover is likely. "I know a ton of people looking to get out everywhere," the growth-stage principal said.
Persons: , Michael Moritz, Combinator, they're, Will Champagne, it's, Ellis, Rebecca Zisser, VCs, Junior VCs, there's, Champagne, I'm, inbounds, I've Organizations: Service, Business, TechCrunch, Venture, Bay Area, Big Law, Kirkland, Haize Labs, Area, Junior
A combination of technologies — from various forms of batteries to other energy storage methods — will likely be necessary to increase capacity. As shown in this render, energy storage company Energy Vault, along with Skidmore, Owens & Merrill, the architecture and engineering firm behind some of the world's tallest buildings, is integrating gravity energy storage technology into building designs. A view of the world's tallest building, the Burj Khalifa, in Dubai, in December 2022. Two energy storage experts contacted by CNN questioned if the economics of a skyscraper battery could work, given the space that would need to be used for energy storage and the structural changes that would be needed to support the extra weight. Energy Vault has already completed a project in China which it says is the world’s first commercial-scale, non-pumped hydro gravitational energy storage system.
Persons: Chicago’s Willis, Bill Baker, Abdelhadi Ramahi, Robert Piconi, Stefano Boeri, Daniel Safarik, Organizations: CNN, Skidmore, Owings, Merrill, Energy, Owens & Merrill, Trade Center, Sears, Burj, International Energy Association ., SOM, Reuters Locations: Burj Khalifa, Dubai, China, Milan, Italian
Expensive Big Mac meals and fears of surge pricing at grocery stores have put food chains and consumer product companies in politicians' crosshairs. Walmart , McDonald's and Kroger are just a few of the companies that have found themselves in the debate over high inflation in the 2024 election. Democrats — particularly those like Casey who are trying to win races in competitive swing states — are trying to capitalize on frustration against companies over inflation. (The source of the data is unclear, and McDonald's has denied that its average prices have risen that much.) The criticism could also add to the pressure companies face to show they can lower prices or offer value.
Persons: Elizabeth Warren, Bob Casey, Kroger, Rodney McMullen, , Casey, Joe Biden, McDonald's, Kamala Harris, Donald Trump, Harris, Trump, Biden, Cait Lamberton, That's Organizations: Walmart, McDonald's, Kroger, Albertsons, House Republican, Taco Bell, Democratic, Republican, U.S . Bureau of Labor Statistics, University of Pennsylvania's Wharton Locations: Sens, McDonald's
Investors highlighted their portfolio companies and startups they had no financial ties to. Leena Rao, who oversaw the list and leads BI's VCs and startups team, estimated about 80% of the startups included are focused on AI. AdvertisementiStock; BIAs differentiated as AI startups try to be, the market has undeniably become oversaturated. Big Tech reform is coming, but Washington won't be the one doing it. Congress can't or won't act, so people who want Big Tech companies to change their ways are trying to do it through the courts .
Persons: , Kamala Harris, Tim Walz, Here's, Kimberly White, Chelsea Jia Feng, Leena Rao, BI's, That's, It's, Arindam Sandilya, Paul Dietrick, Oppenheimer, John Stoltzfus, Jenny Chang, Rodriguez, Adam Mosher, Mosher, YouTube's, Jimmy Donaldson, Alyssa Powell, Elon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Boldstart Ventures, TechCrunch, Healthcare, Getty, JPMorgan, FX, UBS, BI Prosecutors, Big Tech Locations: Minnesota, we're, Washington, New York, London
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