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☆ Jared Kushner's post-White House deal-making included badly timed bet on Amazon aggregator
▼ + stars: | 2024-06-14 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +16 min

Kushner started Affinity in 2021, shortly after leaving his advisory role in the White House alongside his wife, Ivanka Trump. Neumann, who was ultimately ousted from WeWork by top SoftBank execs, introduced Kushner to Unybrands early the following year. Affinity's investment in Unybrands, which hasn't previously been reported, was one of the private equity firm's earliest deals. Following a continued slide, the company laid off roughly 10% of its staff in November 2022, according to people familiar with the matter. The House Oversight Committee launched an investigation into the investment in 2022, looking into whether Kushner's financial interests influenced Trump's foreign policy.

Persons: Jared Kushner, Alex Brandon, Kushner, Weeks, Ivanka Trump, Trump, Saudi Crown Prince Mohammed bin Salman, Jamal Khashoggi, WeWork, Adam Neumann, Neumann, Unybrands, hasn't, —, Catterton, Jason Somerville, Somerville, it's, didn't, headcount, Donald Trump, Gary Cohn, Crown Prince, Mohammed bin Salman, Jonathan Ernst, Crown Prince Mohammed bin Salman, Carolyn Maloney, Ron Wyden, Kushner didn't, Ulrich Kratz, Goldman Sachs, Kratz, Kushner's, Ian Brekke, Asad Naqvi, Bret Pearlman, Roger McNamee, Max Fink, Neumann's, Brekke, Naqvi, Pearlman, Fink, Shahar Azran, Eugen Miropolski, Robyn Laguette, Mark Goldfinger, Joe Biden, Lex, Jeff Bezos, Sam Altman, Ye, I've Organizations: U.S . Capitol, Capitol, Reuters, Affinity Partners, Companies, White House, Affinity, Saudi Crown, Unybrands, WeWork, CNBC, Amazon, BlackRock, Khosla Ventures, GW Partners, Saudi Arabia's Public Investment Fund, United Arab, Saudi Arabia's, Crown, Ritz Carlton Hotel, Saudi, Republicans, Crayhill Capital Management, Barclays, Goldman, Kushner, Investments II, Blackstone, Partners, Financial Services, CNBC it's, Israeli American Council, IAC, Getty, Kanye Locations: Washington, Amazon's, South Florida, Miami, Silicon Valley, Saudi, Saudi Arabia, Unybrands, United Arab Emirates, Qatar, Riyadh, Yemen, American, Austin , Texas, Gulf, Israel

☆ If you always use these 6 phrases, you're mentally stronger than most
▼ + stars: | 2024-06-14 | by ( Scott Mautz | In Scottmautz | ) www.cnbc.com time to read: +4 min

I've spent 30 years researching what makes people, and especially leaders, mentally strong. If you say these six phrases to yourself or others on a regular basis, you're mentally stronger than most:It's all too easy to feel the opposite. Mentally strong people remind themselves of this to bolster their confidence muscle. It's a cornerstone of being mentally strong. Mentally strong people focus on what they still have in the face of adversity, and what possibilities now present themselves.

Persons: I've, we've, It's

☆ The fashion industry needs better sourcing and waste practices — fast. Cloud computing could be a long-term fix.
▼ + stars: | 2024-06-13 | by ( Jake Hall | ) www.businessinsider.com time to read: +8 min

Cloud computing is gaining tractionCloud computing offers on-demand services, from storage to software, over the internet. And the fashion industry has gradually been waking up to the potential of cloud computing. In her report, "Fashion Transformation 4.0: Beyond Digitalization & Marketing in Fashion Industry," she said that the fashion industry must embrace new technologies in order to survive. "Fashion is a terribly old-fashioned industry," Alies ter Kuile, the cofounder of Fashion Cloud, said. With cloud computing, retailers can avoid overbuying stock — a key driver of fashion's textile-waste problem.

Persons: —, It's, Porter, Eon, there's, Bharati Rathore, Rathore, ter, ter Kuile, they're, Ter Kuile, Alan Holcroft, Steven Gonzalez Monserrate Organizations: Service, Green, Google, University of South, Marketing, Fashion Industry, Brands, Cegid Locations: University of South Wales, Dutch, ter Kuile

☆ How Donald Trump's criminal conviction boosted his campaign fundraising machine
▼ + stars: | 2024-06-13 | by ( Merritt Enright | ) www.cnbc.com time to read: +3 min

"This has been a problem for years, if not decades," said Saurav Ghosh, director of campaign finance at the Campaign Legal Center. Filings show President Joe Biden recently used donations from the Democratic National Committee to pay lawyers in a classified documents case. For personal legal matters, such as Trump's New York business fraud case, experts say the use of political donations is prohibited. With an additional three criminal cases awaiting trial dates, Trump's legal costs are expected to continue mounting. In the week following the trial, Trump's team and the RNC reported having raised $141 million during the month of May, bolstered by millions raised in the aftermath of the verdict.

Persons: Donald Trump, Trump, Saurav Ghosh, Joe Biden, Sen, Bob Menendez, Ghosh, we've Organizations: Trump, White House, Save, Democratic National Committee, FEC, RNC Locations: Manhattan, York

☆ Trump's Boeing 757 isn't the perfect private jet, but it's perfect for him
▼ + stars: | 2024-06-13 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +7 min

The point of a private jet is to save its occupant time and increase their productivity. AdvertisementThe old (top) and new (bottom) paint jobs on Trump's Boeing 757 private jet. AdvertisementTrump onboard his Boeing 757 private jet. But what stands out the most about the Boeing 757 is that it's the muscle car of the airline world. Trump's Boeing 757 before receiving a new livery in 2022.

Persons: —, Donald Trump's, it's, Thomas Pallini, Donald, there's, Trump, Gene J, Paul Allen, N757AF, Taylor Swift, John Minchillo, James Devaney, Drake, Andrew Milligan, Royce RB211, Whitney Organizations: Service, Boeing, Business, Bombardier, Gulfstream, Bombardier Global, Trump, New York Times, Trump Force, AP Trump, Microsoft, Sterling Airlines, TAESA, DHL, FedEx, Qatari, Saudi Royal Families, Images, Pratt, Airbus, Shanghai Airlines, Delta Air Lines Locations: Danish, Delta, Paris, New York, Boeing's Renton , WA

☆ Taylor Swift fans say you can't put a price on the memories as The Eras Tour hits the UK, injecting a potential $1.2 billion into the economy
▼ + stars: | 2024-06-13 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +11 min

After the multi-Grammy-winning superstar announced the European leg of The Eras Tour in mid-2023, they started saving, knowing that they had to "travel for Taylor." Corrie (left), KJ (center), and Callie (right) traveled from Gibraltar to Edinburgh to see The Eras Tour. AdvertisementThey estimated that the total cost for their weeklong trip, accommodation, and Eras Tour tickets was just over $2,500 each. Taylor Swift kicked off her 15-stop UK tour at Murrayfield Stadium in Edinburgh, Scotland on June 7, 2024. AdvertisementAs KJ had said at the start of the day, seeing The Eras Tour isn't "just about the show and the music.

Persons: —, Callie, Corrie, Taylor Swift, Swift, Taylor, Eve Crosbie, I'm, marveling, concertgoer, Amira, she's, Leah, Simone, Gareth Cattermole, Expedia, Daniel Finch, haven't, It's, Wilde Aparthotel, Ava, Wilde, Marc Crothall, Mimi's, Mariola, We've, Pie, Erin, KJ Organizations: Service, Business, Murrayfield, Edinburgh, Barclays, QuestionPro, Edinburgh's, Management, Associated Press, Blockbuster, Expedia Brands, Scottish Tourism Alliance, NFL, Swift's Murrayfield, Sky Locations: Edinburgh, Gibraltar, Europe, Liverpool, Cardiff, London, Italy, Minneapolis, Scotland, Paris, England, North America, South America, Australia, Southeast Asia, Leith

Beirut, Lebanon CNN —The fate of the 120 remaining hostages in Gaza is crucial to any deal to end the protracted and bloody conflict between Israel and Hamas. But a senior Hamas official has told CNN that “no one has an idea” how many of them are alive, and that any deal to release them must include guarantees of a permanent ceasefire and the complete withdrawal of Israeli forces from Gaza. People walk among debris, aftermath of Israeli strikes at the area, where Israeli hostages were rescued on Saturday, in Nuseirat refugee camp in central Gaza, on Sunday, June 9. Hamas' Gaza chief Yahya Sinwar attends a meeting with members of Palestinian groups in Gaza City on April 13, 2022. Israel believes that more than 70 hostages of the more than 100 who are still held in Gaza to be alive.

Persons: Osama Hamdan, Yahya Sinwar, Antony Blinken, Sinwar, Hamdan, Joe Biden, Blinken, ” Blinken, Abed Khaled, ”, Israel, Benjamin Netanyahu, Netanyahu “, Jack Guez, ” Sinwar, Ali Jadallah, Netanyahu, “, … Organizations: Lebanon CNN, Hamas, CNN, NBC, ”, Wednesday, United Nations Security, Reuters, White, Israel Defense Forces, European Union, Anadolu Agency, Getty, Israel, Wall, IDF Locations: Beirut, Lebanon, Gaza, Israel, Lebanese, Doha, Israeli, Jerusalem, AFP, United Kingdom, Hamas, Gaza City, American

Learn moreThe 2024 Stanley Cup Finals continue tonight with Game 3 of the Florida Panthers vs. Edmonton Oilers match-up. We've put together everything you need to know about how to watch the Stanley Cup Finals, including options that will work for the entirety of the series. The Oilers will attempt to get back into the competition tonight, but another win for the Panthers gets them that much closer to the Stanley Cup. How to watch Stanley Cup Finals in the USGame 3 of the Stanley Cup Finals will air on ABC on Thursday at 8 p.m. See at FuboHow to watch Stanley Cup Finals from anywhereThose planning to travel outside the US during the Stanley Cup Finals can keep up with their subscriptions using a VPN.

Persons: We've, There's, you'd, Fubo, ExpressVPN Organizations: Business, Florida Panthers, Edmonton Oilers, Stanley, Panthers, Oilers, Vegas Golden Knights, ABC, ESPN, MLB, NHL, NFL, UFC, Hulu, Disney Plus

☆ Miners are selling their bitcoin again as the cryptocurrency struggles to hold onto $70,000
▼ + stars: | 2024-06-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

According to data from CryptoQuant, the flow of bitcoin leaving miners wallets for exchanges – which indicates a selling event – reached a two-month high last weekend. Additionally, miner selling through over-the-counter desks saw its biggest daily volume since late March. CryptoQuant shows the hourly transfer of bitcoin from miners to exchanges rose to more than 3,000 bitcoins on June 9. "Daily bitcoin miner revenues stand today at about $35 million, down 55% from their 2024 peak reached in March." That's mostly as a result of "depressed" transaction fees, however, rather than the slashing of miners' block reward at the halving.

Persons: –, Mike Colonnese, Wainwright, we're, Bitcoin, Julio Moreno, Moreno, Colonnese, Iris, Iren, They've Organizations: H.C, Iris Energy Locations: CryptoQuant

☆ As the heat goes up this summer, so do cooling costs
▼ + stars: | 2024-06-13 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

The groups projected that the average cost across the country could be $719, a nearly 8% increase from the same period last year. In some regions that figure is higher; in Southern states like Texas, the average cost could hit $858. The forecast for summer cooling costs is based on federal data on regional electric prices, summer temperatures, and residential air conditioning, Wolfe said. Related stories"We are assuming a higher rate of temperature change, and recent heat waves are bearing this out," Wolfe said. Those who do may not turn it on in an effort to avoid higher bills, Wolfe said.

Persons: —, Mark Wolfe, May, Wolfe, Louis — Organizations: Service, Business, National Energy Assistance, Association, Center for Energy, Southwest, US Energy Information Administration, Low Income, Energy Assistance Locations: Southern, Texas, Phoenix, El Paso , Texas, York

☆ Live Updates: U.S. to Sign 10-Year Pact With Ukraine as G7 Leaders Meet
▼ + stars: | 2024-06-13 | by ( David E. Sanger | Steven Erlanger | ) www.nytimes.com time to read: +8 min

Mr. Biden and Mr. Zelensky will meet on Thursday and sign a security agreement, said Jake Sullivan, Mr. Biden’s national security adviser. Mr. Biden faces the hurdle of convincing his allies, starting with Mr. Zelensky, that the United States plans to stay in the fight with Ukraine, no matter what happens in November. Mr. Biden told Mr. Zelensky last week, in France, that “I apologize for the weeks of not knowing what was going to pass,” and put the onus on Republicans in Congress. During a trip to Normandy last week, Mr. Biden appeared to have persuaded France, one of the last holdouts, to support the deal. “The administration has been quick to get aid to Ukraine once Congress moved, and that’s to its credit,” he said.

Persons: Biden, Volodymyr Zelensky, Mr, Zelensky, Jake Sullivan, “, ” Mr, Sullivan, we’ll, ”, Vladimir Putin, Pope Francis, Donald J, Trump, Rishi Sunak, Emmanuel Macron, Biden’s, Vladimir V, Putin, Claudia Greco, John E . Herbst, Evelyn Farkas, Barack Obama, Ms, Farkas, ” Alan Rappeport Organizations: Ukraine, U.S, Kremlin, Group, Air Force, “, hobble, NATO, Mr, Reuters, European, World Bank, Eurasia Center, Atlantic Council, United, McCain Institute, Arizona State University Locations: Ukraine, United States, Italy, Israel, Russia, hobble Russia, Europe, France, Congress, Savelletri, Normandy, Belgium’s, U.S, Eurasia

☆ I spent over $3,000 on concert tickets in 2023—and it'd be even more expensive for me to do again this year
▼ + stars: | 2024-06-13 | by ( Renée Onque | ) www.cnbc.com time to read: +3 min

My goal was to move in 2024, so my biggest year in concerts was either now or never. I went to a total of nine concerts and music festivals in 2023, experiencing icons like Usher and Beyoncé live, and spent more than $3,000 on tickets alone. I spent $3,235.12 on concert tickets in 2023: Here's the breakdownThis cost doesn't factor in travel and hotel expenses. Going to concerts and music festivals also helped me to reconnect with friends from college who enjoy live music experiences just as much as me. We're halfway through 2024, and I've been to one concert and one music festival, compared to five by this time last year.

Persons: spender, wouldn't, Usher, Beyoncé, Ellis, Arthur C, Brooks, Flog Gnaw, Tyler, I've Organizations: CNBC, Harvard University Locations: New York, New Jersey, Philadelphia, Las Vegas, Los Angeles

☆ Maintenance and repair costs can be an unwelcomed surprise for first-time homeowners. Here are some ways to avoid bill shock
▼ + stars: | 2024-06-13 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +6 min

Experts say the "hidden costs" of owning a home, especially repairs and maintenance, can come as a shock for homeowners. Based on that calculation, Bankrate estimated, annual maintenance costs in some of the states with the highest home prices — like California, Hawaii and Massachusetts — can go over $26,000 annually. Keep your 'critical eye' as a homeownerOnce you become a homeowner, it will be important to keep up with routine maintenance in your house. To avoid surprises, try to regularly inspect your home and look for spots or corners that may need to be fixed. While homeowners are "the most critical" of a house when they're buying, they often don't keep the "critical eye" after moving in, said Hicks.

Persons: Alex Marrero, " Marrero, expats, Marrero, Angi.com, they're, Angie Hicks, Bankrate.com, Massachusetts —, you've, Jeff Ostrowski, Hicks, Dan Bawden, That's, Bawden, Tom Grill Organizations: Finance, Bankrate.com, CNBC, National Association of Realtors, Legal Eagle Contractors, Co Locations: Coral Springs , Florida, California, Hawaii, Massachusetts, Kentucky, Bellaire , Texas

Beyond Wonderland 2024 festival scheduleFive different ticket options are available for Beyond Wonderland at The Gorge. Resale tickets are generally comparable to or slightly cheaper than original tickets. Tickets to Beyond Wonderland at The Gorge 2024 are also available through verified ticket resale vendors like Vivid Seats and StubHub. Resale tickets for Saturday, June 22, begin at $142 on StubHub, with Vivid Seats offering similar prices starting at $164. Prices for two-day (Saturday and Sunday) original tickets for Beyond Wonderland at The Gorge 2024 jump up quite a bit from single-day passes.

Persons: We've, George, There's, Alex Bosi, Alison Wonderland, Cherry, Grayson Rose, Marten Horger, Max Styler, Miss Dre, Pauline Herr, AC Slater, Andy C, Dillon Francis, Dombresky, Gene Farris, Haylee Wood, Jessica Audiffred, Josh Butler, Sam Divine, Shiba, Sullivan King, Zedd Organizations: Business, Insomnia, Tea Party, George, Vivid, Sunday, Adventure, Lines, Discovery, Insomniac Records, Diesel, Shiba San B@B CID Locations: Southern California, West Coast, Southern, Northern California, Eastern Washington, WA, George, Hyperfunk

☆ Biden leads new drive to cement the West’s Ukraine war effort against Putin – and Trump
▼ + stars: | 2024-06-13 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Washington CNN —President Joe Biden is leading the world’s richest democracies in sending a beefed-up message to Russian President Vladimir Putin that the West will not forsake Ukraine despite political shocks casting doubts over its commitment. A flurry of new Western plans to help UkraineStill, the latest Western plans to help Ukraine send a strong message of intent. The sanctions target foreign financial firms aiding Putin’s war effort, restrict Russian access to some US software and information technology. Russian advances on the battlefieldThese are substantial and credible political, economic and political demonstrations of support for Ukraine. Not surprisingly, Zelensky has always chafed at the self-imposed limits of Western support for his war effort that are a symptom of Biden’s core aim of avoiding a direct NATO confrontation with Russia.

Persons: Joe Biden, Vladimir Putin, Biden, Volodymyr Zelensky, ” Biden, “, Donald Trump, Trump, lionizes Putin, wobbling, —, George H.W, George H.W . Bush, Janet Yellen, ” — Biden, Zelensky, ” Jake Sullivan, Wesley Clark, ” Clark, they’ve, ”, Kamala Harris, Sullivan, John Kirby, Putin Organizations: Washington CNN, Republican Party, Capitol, Republican, CNN, NATO, Big, Union, Ukraine, Trump, Biden, Air Force, Hudson Institute, Kremlin, Kyiv, West, White House National Security Council Locations: Russian, Ukraine, Italy, Normandy, Europe, United States, France, Germany, George H.W ., Russia, Britain, Japan, Canada, NATO, Washington, Kyiv, Cuba, China, Iran, Israel, Ukrainian, Switzerland

☆ 3 risks to global economic growth
▼ + stars: | 2024-06-13 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The World Bank on Tuesday raised its 2024 outlook for global economic growth to hold steady at 2.6%, an increase from its previous projection of 2.4% growth. “Four years after the upheavals caused by the pandemic, conflicts, inflation, and monetary tightening, it appears that global economic growth is steadying,” Indermit Gill, the World Bank’s chief economist, said in a release accompanying the report. Prospects for the world’s poorest economies are even more worrisome.”Here are three risks the World Bank sees. The World Bank said that spillover risk from the Russia-Ukraine war and Israel-Hamas war could curb global growth by pushing up oil prices and shipping costs. Trade tensions are already brewing between some of the world’s biggest global economic engines.

Persons: ” Indermit Gill, Jerome Powell, ”, Ayhan Kose, Danielle Wiener, Bronner, Joe Erlinger, aren’t, TikTok, John S, James L, Donald Trump, Joe Biden’s, Biden Organizations: CNN Business, Bell, New York CNN, Bank, World Bank, European Central Bank and Bank of Canada, US Federal Reserve, European Commission, EU, Bureau of Labor Statistics, McDonald’s, Pew Research Center, Knight Foundation, TikTok Locations: New York, Russia, Ukraine, Israel, India, Mexico, United States, France, United Kingdom, China, Beijing

☆ The ocean is still largely unexplored. Underwater tech could help illuminate its mysteries.
▼ + stars: | 2024-06-13 | by ( Sarah Sloat | ) www.businessinsider.com time to read: +7 min

But below the surface, the mini marine sanctuary is also a test bed for underwater technology that may take researchers to literal new depths. In the ocean, Underwater IoT could look like floating sensors, swarms of crewless vehicles, or a tetherless, wireless robot. Interest in ocean IoT is increasing because of its potential scientific, military, commercial, and conservation applications. AdvertisementWaleed Akbar, a research assistant at the MIT Media Lab, said that while developing underwater IoT is challenging, it's necessary. There's also the issue of energy consumption: Generally, preliminary underwater IoT devices have used batteries with limited capacity.

Persons: Wahoo Bay, Rob Wyre, Waleed Akbar, Akbar, There's, Dimitris Pados, Pados, Wahoo, Wahoo Bay . Florida Atlantic University Pados, they'll, Wyre, We've Organizations: Shipwreck, Wahoo, Florida Atlantic University, MIT Media Lab, MIT, Business, US Navy, Center for Connected Autonomy, Artificial Intelligence, Wahoo Bay . Florida Atlantic University Locations: Pompano Beach , Florida, Wahoo, Wahoo Bay ., Pompano Beach, Wyre, Wahoo Bay

☆ Milwaukee mayor: Trump’s comments about city could ‘cost him the election’
▼ + stars: | 2024-06-13 | by ( Royce Johnson | ) edition.cnn.com time to read: 1 min

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☆ Stellantis has achieved $9 billion in cost reductions from merger
▼ + stars: | 2024-06-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Stellantis CEO Carlos Tavares speaks to media on June 13, 2024 following the company's investor day at its North American headquarters in Auburn Hills, Mich.AUBURN HILLS, Mich. – Stellantis has achieved 8.4 billion euros ($9 billion) in cost reductions from the merger of Fiat Chrysler and PSA Groupe that created the company in January 2021, CEO Carlos Tavares said Thursday. That amount is more than double initial expectations from when the merger was announced in 2019, and an increase from the updated 5 billion euros in expected reductions within five years of completion of the merger that formed one of the world's largest automakers. Cost-saving measures have included reshaping the company's supply chain and operations, as well as headcount reductions. Since the merger was agreed to in December 2019, Stellantis has reduced headcount by 15.5%, or roughly 47,500 employees, through 2023, according to public filings. Several Stellantis executives described the cuts to CNBC as difficult but effective.

Persons: Carlos Tavares, – Stellantis, Tavares, Stellantis Organizations: Fiat Chrysler, PSA Groupe, CNBC Locations: Auburn Hills, Mich, AUBURN HILLS, U.S, Italy

☆ I used to regularly fly on ultra-low-cost airlines to save money, but the cheap tickets aren't worth the headache anymore
▼ + stars: | 2024-06-13 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

AdvertisementPlus, I'm not convinced that Frontier and Spirit's recent addition of "premium" perks will give either a competitive edge. Frontier and Spirit offer 28 inches of pitch, while coach seats on all three mainline carriers start at 30 inches. AdvertisementAmerican Airlines, Delta Air Lines, and United Airlines recognized the budget competition years ago and created their own version of a cheap ticket: basic economy. ULCCs are not always cheaper once you do the mathIn my experience, mainline tickets are sometimes cheaper than Frontier or Spirit. Spirit has dropped all change and cancel fees, and Frontier is adding business-class-like seats to lure in more premium travelers.

Persons: —, I've, I'm, Taylor Rains, mainlines, it's, Scott Kirby, LaGuardia Organizations: Service, Spirit Airlines, Frontier Airlines, Business, American Airlines, Delta Air Lines, United Airlines, Mobile, LaGuardia Airport, Delta, Google, United, Spirit Locations: Delta, Orlando

☆ Here are 9 stocks that can benefit from Fed interest rate cuts
▼ + stars: | 2024-06-13 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Housing We see Stanley Black & Decker as a major beneficiary of Fed rate cuts due to its link to the housing market. On the one hand, lower rates mean a bank like Wells Fargo makes less money on the money it lends. Biotech Danaher should also see some benefit as lower rates lead to improved funding dynamics for biotech companies. Like in housing, monthly payments become far more manageable at lower rates, and therefore affordability and demand, stand to increase. Salesforce , which has also highlighted more measured deal activity, might not benefit as much from lower rates.

Persons: Jerome Powell, Stanley Black, Decker, Stanley, That's, Wells, Morgan Stanley, SVB, Ford, We're, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Nasdaq, CNBC, Fed, Biotech, Silicon Valley Bank, Ford, Palo, Networks, Microsoft, Jim Cramer's Charitable, Bloomberg, Getty Locations: Wells, Wells Fargo, Silicon Valley, Colma , California

☆ Saudi Arabia is seeking billions in Chinese investment for Neom. But it comes with a massive risk.
▼ + stars: | 2024-06-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +7 min

Read previewAt a recent exhibition in Hong Kong, Saudi Arabia showcased its futuristic vision for its planned Neom megacity. It was part of Saudi Arabia's drive to secure billions in new investment for the project, which is the centerpiece of Saudi ruler Mohammed bin Salman's Vision 2030 strategy. China sees Saudi Arabia as not just a business opportunity but a way of undercutting the influence of its longtime Saudi ally, the US. AdvertisementIn April, Saudi Arabia's Public Investment Fund-subsidiary Alat signed a deal with Dahua Technology, one of China's most important surveillance technology firms. "The main risk today to Saudi Arabia's tech cooperation with China is the growing China-US tech war.

Persons: —, Mohammed bin Salman's, Xi Jinping, Mohammed bin Salman Al Saud, Yue Yuewei, Leonard Chan, Robert Mogielnicki, Abdullah Al, Crown Prince Mohammed, Alat, GREG BAKER, Camille Lons, Neom that's, Saudi Arabian Crown Prince Mohammed bin Salman, Saudi Arabia's, Biden Organizations: Service, Business, Saudi, Saudi Crown Prince, Getty, Hong Kong Innovative Technology Development Association, Gulf States Institute, Crown, Public Investment Fund, Dahua Technology, US, European Council, Foreign Relations, Saudi Arabian Crown, New York Times Locations: Hong Kong, Saudi Arabia, Saudi, Riyadh, Xinhua, China, Washington, Neom, Riyadh Tower, Beijing, Israel

☆ EU tariffs on EVs sting China but won’t halt BYD’s advance
▼ + stars: | 2024-06-13 | by ( Laura He | ) edition.cnn.com time to read: +8 min

The impact on China’s EV makers will vary depending on the level of tariff and each company’s cost structure. “One critical issue for China is that the EU accounted for 38% of China’s EV exports in 2023,” Sebastian said. In February, nine government agencies, including the Commerce Ministry and the central bank, vowed to provide support to accelerate Chinese EV makers’ global push. Tesla prices to riseIn contrast to BYD, state-owned carmaker SAIC is in a “disastrous” situation facing 38.1% in additional tariffs, according to Sebastian. Soula said China could retaliate by imposing tariffs on some European goods such as luxury cars, premium brandies or airplane parts.

Persons: Hong Kong CNN —, BYD, Tesla, Gregor Sebastian, ”, ” Sebastian, Etienne Soula, It’s, Sebastian, Geely, Andrew Bergbaum, don’t, Soula Organizations: Hong Kong CNN, European Union, EV, China’s, Alliance, Democracy, German Marshall Fund of, Commerce Ministry, SAIC, Volvo, European Commission, UBS, EU Locations: China, Hong Kong, European, Europe, Beijing, Asia, Brazil, Turkey, United States, EU, America, Shanghai, Hungary, Italy, Spain

☆ High interest rates could pressure companies to cut dividends. These names may be at risk, Wolfe Research says
▼ + stars: | 2024-06-13 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

Dividend-paying companies might feel compelled to cut their dividends if they're grappling with a lot of debt, as higher rates raise the cost of leverage for companies. He added dividend cuts can also serve as a "clearing event" for a stock, ironically spurring a period of outperformance. See below for a few of the potential contenders for dividend cuts. The stock is down more than 15% in 2024, and it offers a dividend yield of nearly 5%. Shares are up about 17% in 2024, and the stock has a dividend yield of 3.5%.

Persons: Jerome Powell, Chris Senyek, Wolfe, Matthew Boss, Vail, Goldman Sachs, Christine Cho, Nordstrom Organizations: Wolfe Research, Federal, Vail Resorts, JPMorgan, Vail, Nordstrom, Whirlpool, Owl Locations: Wednesday's

☆ Stanford University costs over $92,000 a year—how much students actually pay, according to income level
▼ + stars: | 2024-06-13 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

For many college students, attending a prestigious Ivy League school is a dream come true. But many commentators and admissions experts now have a slightly wider view of schools that are on par with the Ivy League. These days, several colleges, including Stanford University, are known as "Ivy-Plus" schools. For the 2024-25 school year, tuition alone at Stanford costs $65,127. Here's how much students typically pay to go to Stanford.

Organizations: Ivy League, Stanford University, Stanford, Massachusetts Institute of Technology, The University of Chicago, Duke University, Ivy, U.S . News Locations: U.S

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