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☆ 4 cheap stocks to buy and hold for the next decade, according to the pros
▼ + stars: | 2024-04-12 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Many shares look expensive in today's market, but there are still cheap stocks to be found — some of which can be held for the next 10 years, according to the pros. They shared with CNBC Pro their tips for picking cheap stocks that hold long-term promise, as well as their top picks. How to pick cheap stocks Morningstar's Susan Dziubinski says she believes in owning stocks that offer "some sense of certainty" in terms of cash flow and company fundamentals. Freddie Lait, chief investment officer at Latitude Investment Management, says a willingness to invest in some cyclical stocks is key. Cheap stocks to hold for the long term Morningstar's Dziubinski named three cheap stocks that investors can hold for the next decade: U.S. consumer health firm Kenvue , regional U.S. bank U.S. Bancorp , and medical equipment firm Zimmer Biomet .

Persons: Susan Dziubinski, isn't, Freddie Lait, Lait, he's, Dziubinski, Zimmer Biomet, Morningstar, Bancorp Morningstar, AutoZone Organizations: CNBC, Latitude Investment Management, U.S . Bancorp, Companies, Bancorp Locations: U.S, AutoZone

☆ Where investors might hide out if inflation continues to reaccelerate
▼ + stars: | 2024-04-10 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

To guard against stubborn inflation and higher-for-longer interest rates, investors should focus on quality companies with high pricing power and adjust their duration risk in bonds, according to Wall Street strategists and portfolio managers. Pricing power Companies with high pricing power tend to outperform when inflation is elevated because they have the ability to defend their profit margins by passing along higher costs to their end market customers. "In equities, you should prefer companies that have pricing power, i.e. "When inflation is the predominant risk in markets, correlations between stocks and traditional bonds tend to be high. BlackRock's iShares strategy team recently argued that investors should take advantage of spikes in bond yields while they can and reinvest their cash.

Persons: Stocks, Brad Conger, Sonu Varghese, Jason Pride, Pride, Rick Rieder Organizations: Dow Jones, Treasury, Street, Callaghan, Co, Big Tech, Carson Group, Securities, U.S ., Glenmede Trust Locations: Hirtle, BlackRock

☆ ‘Ripley’ review: Andrew Scott stars in a very slow-burn Netflix series based on the Tom Ripley books
▼ + stars: | 2024-04-04 | by ( Brian Lowry | ) edition.cnn.com time to read: +3 min

CNN —Moving slowly, indeed almost hypnotically, “Ripley” takes a few episodes to kick in, but once it does there’s no turning back. Set in the early 1960s, the format provides the latitude to luxuriate in uncomfortable moments and build palpable tension around situations in Patricia Highsmith’s books, a sensation that becomes more intense once it’s demonstrated how ruthless Scott’s Tom Ripley can be. Living an idyllic life with his girlfriend Marge (Dakota Fanning), Dickie resists the notion but foolishly invites Tom into his orbit. Marge might be suspicious of Tom’s motivations, but he quickly wins over Dickie despite his occasionally strange behavior. If they do, give the credit, primarily, to the talented Messrs. Zaillian and Scott.

Persons: “ Ripley ”, Ripley ”, Andrew Scott, “, Matt Damon, Steven Zaillian, ” “ Ripley ”, Patricia Highsmith’s, Tom Ripley, Ripley, Dickie Greenleaf, Johnny Flynn, Marge, Dakota Fanning, Dickie, Scott, Maurizio Lombardi, Ravini, ”, “ Ripley, –, it’s, deceptions, Zaillian Organizations: CNN, New Yorker, Netflix Locations: Italy, Ripley, Flitting

☆ See photos of the US Navy's rare blue nose tradition, which may also be its strangest
▼ + stars: | 2024-03-29 | by ( Elias Chavez | ) www.businessinsider.com time to read: +1 min

The Royal Order of the Blue Nose is a naval tradition given to sailors who cross the Arctic Circle. The Blue Nose Ceremony is one of the rarest of naval traditions. AdvertisementThe Royal Order of the Blue Nose is one of the most exclusive clubs among members of the US Navy. The Order of the Blue Nose is a riff on the line-crossing ceremony many sailors experience when they cross the equatorial line. Sailors who partake in the rare naval tradition must undergo a number of tasks in the frigid temperatures of the Arctic in order to earn the graces of the King and earn their blue nose.

Persons: —, Boreas Rex, King Organizations: Service, US Navy, North

☆ Is it time for investors to hedge for a market decline? The pros share their views and strategies
▼ + stars: | 2024-03-28 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Last week, Goldman Sachs told clients they should start hedging for a market decline . Here's how Goldman suggests investors worried about a declining market can hedge their positions. Others also believe that it's time to start hedging — or at least take a more conservative stance. 'Shift into more value names' Top hedge fund manager David Neuhauser says it would depend on where investors are positioned right now. But he isn't a fan of hedging strategies like options, saying "over time you just end up with lower returns."

Persons: Goldman Sachs, Goldman, David Neuhauser, that's, Russell, Neuhauser, Brian Arcese, he's, Arcese, It's, Freddie Lait, Lait Organizations: Dow Jones Industrial, Nasdaq, CNBC Pro, Livermore Partners, London, Nvidia, Foord Asset Management, CNBC, Latitude Investment Locations: Europe, U.S

☆ A complex and clubby group in London could face billions in claims from the Baltimore bridge collapse
▼ + stars: | 2024-03-27 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. With the crash of the container ship Dali into the Francis Scott Key Bridge in Baltimore on Tuesday, insurance underwriters are duly updating those books as a picture emerges of the true cost of damages. Economists told Business Insider the port closure itself will cost $15 million per day in lost economic activity, with other disruptions pushing the total into the tens of millions per day. All told, Barclays said insurance companies could be looking at claims as high as $3 billion as a result of the crash, Bloomberg reported. AdvertisementStill, the collapse of the Key Bridge could lead to "one of the largest claims ever to hit the marine (re)insurance market," John Miklus, president of the American Institute of Marine Underwriters, told Insurance Business.

Persons: —, Dali, Francis Scott Key, Morningstar, Marcos Alvarez, Edward Lloyd, doesn't, Lloyd's, John Miklus Organizations: Service, Business, Barclays, Bloomberg, Port, Reuters, Lloyd's, American Institute of Marine Underwriters, Insurance Business Locations: London, Baltimore, Port of Baltimore, Britannia

☆ How to photograph a total solar eclipse, according to an expert
▼ + stars: | 2024-03-27 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +11 min

CNN —Getting to see even one total solar eclipse is a rare occurrence. Stan HondaFor the upcoming eclipse, Honda will be in Fredericksburg, Texas, taking pictures on behalf of international news agency Agence France-Presse. Here's an example from the total solar eclipse in 2017, as photographed from Madras, Oregon. How to practice eclipse photographyThe phases of a total solar eclipse as they unfolded in El Molle, Chile, in July 2019. Stan HondaOf all the stages of a total solar eclipse, the moment of totality is special and the one most photographers covet.

Persons: Stan Honda, ” Honda, astrophotographer, ”, that’s, “ You’ve, “, —, Honda, won’t, covet, “ That’s, what’s, I’ll Organizations: CNN, Honda, Agence France, Presse, NASA, American Astronomical Society Locations: Svalbard, Norwegian, United States, Mexico, Texas, Maine, Canada, Southern, Chile, Fredericksburg , Texas, “, Fredericksburg, Austin, Madras , Oregon, El Molle

☆ Sam Bankman-Fried faces sentencing this week. Here’s what to expect
▼ + stars: | 2024-03-27 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

Sentencing is a much more fluid process, with both sides allowed to make sweeping arguments to try to make their case to the judge. But instead, his life in recent years has been one of unmatched greed and hubris; of ambition and rationalization; and courting risk and gambling repeatedly with other people’s money,” prosecutors wrote in a memo. In a letter to the court, Marc Mukasey, the lawyer Bankman-Fried retained for sentencing, called the government’s memo “disturbing” and accused the government of trying to “break” Bankman-Fried. His behavior may come back to haunt Bankman-Fried in sentencing, Fischer said. But legal experts say that even if 100% of FTX customers get their money back, it’s not necessarily going to sway the judge to go easy on Bankman-Fried.

Persons: Sam Bankman, Judge Lewis Kaplan, ”, Kaplan, Howard Fischer, Moses Singer, Prosecutors, Fried, Marc Mukasey, Bankman, ” Mukasey, “, Sam, ’, Caroline Ellison, Fischer, ” Ellison, Bernie Madoff, it’s, ’ ”, John Ray, ” Ray Organizations: New, New York CNN, Southern, of, Prosecutors, Bankman, MIT, Detention, ” Prosecutors, Alameda Research Locations: New York, Manhattan, of New York, Palo Alto , California, Brooklyn, Bankman, FTX, Alameda

☆ A historic and clubby group in London could face billions in claims from the Baltimore bridge collapse
▼ + stars: | 2024-03-27 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Claims from the container ship Dali's crash into Baltimore's Key Bridge could cost insurers a lot. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . With the crash of the container ship Dali into the Francis Scott Key Bridge in Baltimore on Tuesday, insurance underwriters are updating those books as a picture of the true cost of damages emerges. Economists told Business Insider the port closure itself will cost $15 million a day in lost economic activity, with other disruptions pushing the total into the tens of millions a day. AdvertisementStill, the collapse of the Key Bridge could lead to "one of the largest claims ever to hit the marine (re)insurance market," John Miklus, the president of the American Institute of Marine Underwriters, told Insurance Business.

Persons: —, Dali, Francis Scott Key, Marcos Álvarez, Edward, doesn't, Lloyd's, John Miklus Organizations: Service, Barclays, Bloomberg, Port, Reuters, Lloyd's, American Institute of Marine Underwriters, Insurance Business Locations: London, Baltimore, Port of Baltimore, Britannia

☆ FTX's victims may get all their money back. The judge sentencing Sam Bankman-Fried might not care.
▼ + stars: | 2024-03-24 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +12 min

Sam Bankman-Fried bilked FTX customers out of over $8 billion, according to prosecutors. AdvertisementAccording to federal prosecutors, Sam Bankman-Fried orchestrated one of the biggest criminal frauds in the history of the world. According to his lawyers, FTX's customers might get all their money back. According to prosecutors, Bankman-Fried was responsible for more than $11 billion in fraud overall between FTX customers and investors in FTX and Alameda Research. The recovered calculations, too, distort how much money customers are actually getting back.

Persons: Sam Bankman, —, Fried, FTX, John J, Ray III, Ray, Lewis Kaplan, Kaplan, Sarah Krissoff, Cozen O'Connor, Krissoff, it's, Sarah Silbiger, Bankman, bitcoin, Rachel Maimin, Lowenstein Sandler, Barbara Fried, Mark Cohen, Jane Rosenberg Bankman, Maiman, Maimin, Caroline Ellison Organizations: Service, FTX, Bankman, Alameda Research, US, United States, Second Circuit, U.S . House Financial, Capitol, Reuters, K5 Global, Prosecutors, Wall, REUTERS, Business, of Prisons, Alemda Research Locations: FTX, Manhattan, New Jersey, New York, Washington , U.S

☆ Trump's lawyers dance for him when he's in the courtroom. At a criminal trial, that could torpedo his chances of winning.
▼ + stars: | 2024-03-24 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +15 min

And at a criminal trial, causing a ruckus can bring its own consequences. In a criminal trial, Trump, along with his eager-to-please lawyers, must attend every day. he quipped in response to an argument from one of Trump's lawyers. Technically, Trump faces a maximum of four years in prison for each count he's charged with in his criminal case. The criminal trial will give Trump a chance to hold multiple campaign-boosting rallies before the hallway cameras each day.

Persons: —, Donald Trump, they're, Trump, he's, Jean Carroll, Juan Merchan, Carroll, Roberta Kaplan, Carroll's, Arthur Engoron, shrewdly, TIMOTHY A, CLARY, Stormy Daniels, Melania Trump, Kaplan, Eliza Orlins, Orlins, there's, Susan Necheles, Steven Hirsch, Maggie Haberman's, huff, Lewis Kaplan, Alina Habba, Randy Zelin, they've, Engoron, Letitia James of, York —, Kaplan quizzed, Merchan, He's, Donald Trump's, Seth Wenig Merchan, Prosecutors, Zelin, OJ, I'm Organizations: Service, Secret Service, Business, Trump, New York, sophistry, Attorneys, Getty, Manhattan Criminal, Trump Organization, New York Times, Truth, New, AP, Merchan Locations: Manhattan, New York, New York City, Brooklyn, York, America, U.S, Trump

☆ Climate crisis: You don’t have to admit there’s one to be fighting climate change
▼ + stars: | 2024-03-23 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +16 min

The climate crisis ends up touching on all of those issues, as CNN’s chief climate correspondent Bill Weir told me. Removing politics from climate changeWOLF: It’s interesting to hear you say that about Texas, because the governor and the Republican-dominated legislature there would seemingly be opposed to doing anything specifically because of climate change. Joe Biden has tried to make the argument that addressing climate change should be an economic boom. It seems clear that we’re going to burst through the 2-degree tipping point that had been previously suggested as the tipping point for climate change. What that means for marine ecosystems and coral reefs, which are the cradles of life in the oceans, and what it means for the power of storms as we head into hurricane season has scientists really, really worried.

Persons: Bill Weir, ”, Weir, You’re, WEIR, don’t, Syd Kitson, It’s, Hurricane Ian, CNN WEIR, Hurricane Maria, they’ve, it’s, It’ll, Joe Biden, Donald Trump, Matt Yglesias, WOLF, I’ve, we’ve, We’ve, Kena Betancur, they’re, There’s Organizations: CNN, NFL, Hurricane, Babcock, Buffalo, UN, Republican, Act, Citi Bikes, Getty, Greyhound Locations: Hope, Massachusetts, Salisbury , Massachusetts, New Hampshire, Florida, America, , Florida, Puerto Rico, Buffalo, Puerto Rican, Niagara Falls, Texas, Alaska, United States, Portland , Maine, Portland , Oregon, Central America, Charleston, South Carolina, New York City, Dallas, Chicago, New York, AFP

☆ The proposed TikTok ban has been deemed unconstitutional by some, but framing around national security could help advance it
▼ + stars: | 2024-03-12 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +7 min

Read previewThe widely-popular social media app TikTok is once again facing a possible ban in the United States over concerns about its links to China. "It is targeted to address the national security threat that we believe these apps, like TikTok, pose to the United States because of its ownership by a foreign adversary." "The First Amendment protects Americans' right to access social media platforms of their choosing," Krishnan said. Former President Donald Trump in Tulsa, Okla. AP Photo/Sue OgrockiTrump once supported a TikTok ban, but is now against itMeanwhile, Trump — whose administration tried to ban TikTok in the US — but was blocked from doing so in court after TikTok sued — has now come out against a ban for the app. "If you get rid of TikTok, Facebook and Zuckerschmuck will double their business," Trump argued on his social media platform, Truth Social, in a dig at Meta CEO and Facebook founder Mark Zuckerberg.

Persons: —, Donald Trump, Sarah Kreps, TikTok's, weaponize, Steve Scalise, Cathy McMorris Rodgers, McMorris Rodgers, Kreps, ByteDance, Krishnan, TikTok, Sue Ogrocki Trump, Trump, Zuckerschmuck, Mark Zuckerberg, Jenna Leventoff, Leventoff Organizations: Service, Business, Tech, Institute, New York's Cornell University, Foreign, ByteDance Ltd, Republican, GOP, House Energy, Commerce Committee, Fox Business, Columbia University, Columbia Law School, Chinese Communist Party, AP, Facebook, Meta, Commerce, American Civil Liberties Union, Center for Democracy and Technology Locations: United States, China, TikTok's Beijing, New York, Tulsa, Okla, TikTok

☆ All my friends are tracking their teenage kids' phones. I decided to let my son have his freedom, but I'm still worried.
▼ + stars: | 2024-03-10 | by ( Erika Ebsworth-Goold | ) www.businessinsider.com time to read: +4 min

But I've decided not to track my high school senior when he's out and about — even when he's behind the wheel. I'm not naïve: I know my son won't always make the correct decisions. But he will; that's life. What my son gains far outweighs what I lose by opting not to use a tracking app. I don't always need to know where he is, but he'll always know where I am should he need me.

Persons: —, I've, I'm, micromanaging, he's, he'll, We're, we've Organizations: Service, Google, Business, SWAT

☆ President Biden wants higher taxes on Corporate America's stock buybacks
▼ + stars: | 2024-03-07 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

President Biden wants to increase the taxes on those buybacks. Corporations prefer stock buybacks Corporate America has wide latitude on what it does with the cash flow it generates. Excess cash will typically fall into three buckets: buybacks, dividends and capital expenditures. Capital expenditures $597 b. "However, if economic growth momentum instead continues to build, investors may begin to increasingly reward companies that are investing for growth," Goldman said.

Persons: Biden, Goldman Sachs Jeffrey Yale Rubin, Goldman Sachs, Goldman, Tesla, Meta, Biden's, Howard Silverblatt, Silverblatt Organizations: America, buybacks, Birinyi, P Global Locations: buybacks, America

☆ A Popular Israeli Leader’s Meeting in London Sends a Message to Netanyahu
▼ + stars: | 2024-03-07 | by ( Mark Landler | ) www.nytimes.com time to read: +1 min

When Benny Gantz, a member of Israel’s war cabinet, met David Cameron, Britain’s foreign secretary, in London on Wednesday, he got a sharp message that Israel must do more to allow humanitarian aid to flow into Gaza. It was the kind of minister-level meeting that would normally draw modest attention amid the flurry of high-level diplomacy that has enveloped the Israel-Hamas war. But Mr. Gantz and Mr. Cameron are no mere functionaries. Mr. Gantz, a former chief of staff of the Israel Defense Forces, is a popular political rival of Prime Minister Benjamin Netanyahu, and Mr. Netanyahu expressed deep displeasure at what he viewed as an unsanctioned trip by a would-be Israeli leader. Mr. Cameron, a former prime minister, has enjoyed uncommon latitude as foreign secretary, speaking out forcefully on issues like Gaza and the war in Ukraine on international trips, where he is often treated as though he were still in his old job.

Persons: Benny Gantz, David Cameron, Gantz, Cameron, Benjamin Netanyahu, Netanyahu, Mr Organizations: Israel Defense Forces Locations: London, Israel, Gaza, Ukraine

☆ Skip EV stocks like Tesla, says fund manager, naming a 'phenomenal' alternative
▼ + stars: | 2024-03-05 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Competition is heating up in the electric vehicle industry, especially between investor favorite Tesla and Chinese automakers like the Warren Buffett-backed BYD . He said that most EV businesses had not succeeded in making money yet, given the "extraordinary" amount of capital invested initially. He manages over $750 million across the Latitude Horizon Fund and the Latitude Global Fund . 'Phenomenal' Ferrari Lait described Ferrari in particular as "a phenomenal business." The average price target on Ferrari is 391.96 euros ($425.14), according to FactSet data, giving it potential downside of around 8%.

Persons: Tesla, Warren Buffett, EVs, Freddie Lait, CNBC's, Lait, Ferrari Lait, Ferrari, Morgan Stanley's, — CNBC's Michael Bloom Organizations: Latitude Investment Management, Ferrari, Motors, Volkswagen, BMW, New York Stock Exchange, Euronext, Euronext Milan, UBS Locations: Euronext Milan

☆ CNBC Daily Open: No rate cuts in 2024?
▼ + stars: | 2024-03-05 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Stocks retreatWall Street retreated Monday despite a rally in tech stocks tied to the artificial intelligence boom. China sets GDP targetChina set an economic growth target of "around 5%" for 2024. The fund manager instead has his sights on what he calls "bigger integrated covers," and picked Ferrari as "a phenomenal business."

Persons: Jerome H, Powell, Dow, Bitcoin, Freddie Lait, CNBC's, Ferrari Organizations: . Senate Banking, Housing, Urban Affairs, CNBC, Nasdaq, National People's, Apple, Federal Reserve, Latitude Investment Management Locations: Washington , U.S, China

☆ CNBC Daily Open: Will the Fed not cut rates in 2024?
▼ + stars: | 2024-03-05 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

U.S. Federal Reserve Board Chair Jerome Powell speaks during a news conference at the headquarters of the Federal Reserve in Washington, D.C., on Dec. 13, 2023. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Asia stock markets mixedAsia markets were mixed Tuesday as investors assesses China's GDP growth projections of "around 5%" for 2024. Gold sets new recordGold rose above $2,100 to the highest level ever as traders bet the Federal Reserve will start cutting interest rates in the second half of the year.

Persons: Jerome Powell, Freddie Lait, CNBC's, Ferrari Organizations: Federal, Federal Reserve, Washington , D.C, CNBC, CSI, Dow, Nasdaq, National People's, Ministry, Finance, Nikkei, Latitude Investment Management Locations: Washington ,, Asia, China

☆ Gold rises above $2,100 to highest level ever as traders bet on interest rate cuts
▼ + stars: | 2024-03-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Gold futures settled at the highest level ever on Monday as traders bet the Federal Reserve will start cutting interest rates in the second half of the year. When adjusted for inflation, gold set an all-time high of about $3,200 in 1980, according to Peter Boockvar, chief investment officer at Bleakley Financial Group. Gold has has performed well despite high interest rates and a strong dollar, he said. Gold now has upside on the expectation that the Fed will start cutting interest rates this year as inflation comes down, hesaid. Traders are betting the Fed will cut rates in June, according to the CME Fed Watch Tool.

Persons: It's, Peter Boockvar, Boockvar, Gold, Bart Melek, Melek Organizations: Federal Reserve, Miners, Bleakley Financial, TD Securities, Fed, Traders, CME Locations: U.S, Ukraine, China, Saudi Arabia

☆ 'Exciting idea': Fund manager loves this pharma stock — and analysts see more upside ahead
▼ + stars: | 2024-02-29 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

But one firm in the wider ecosystem that's perhaps lesser known stands out to fund manager Freddie Lait, which is McKesson Corp — the U.S. pharmaceuticals distribution company. Calling the company an "exciting idea," Lait noted that the 100-year-old business is "very defensive and very diversified." Lait manages over $750 million collectively between two funds — the Latitude Horizon Fund and the Latitude Global Fund . Of the 19 analysts covering the stock, 14 give it a buy or overweight rating, while three have hold ratings and one has a sell rating. The average price target on the stock is $550.25, according to FactSet data, giving it potential upside of 6%.

Persons: Eli Lilly, Freddie Lait, Lait, —, That's, … It's, McKesson, MCK, — CNBC's Michael Bloom Organizations: Novo Nordisk, Latitude Investment Management, CNBC, U.S, Cardinal Health, McKesson Corp, JPMorgan, Rite Aid, receivables, Leerink Partners, pharma

☆ Lead-Tainted Applesauce Sailed Through Gaps in Food-Safety System
▼ + stars: | 2024-02-27 | by ( Christina Jewett | Will Fitzgibbon | ) www.nytimes.com time to read: +1 min

Cinnamon-flavored applesauce pouches sold in grocery and dollar stores last year poisoned hundreds of American children with extremely high doses of lead, leaving anxious parents to watch for signs of brain damage, developmental delays and seizures. The Food and Drug Administration, citing Ecuadorean investigators, said a spice grinder was likely responsible for the contamination and said the quick recall of three million applesauce pouches protected the food supply. Children in 44 states ate the tainted applesauce, some of which contained lead at extraordinarily high levels. and a food-safety law that gives companies, at home and abroad, wide latitude on what toxins to look for and whether to test. “Largely, the food supply regulatory system is based on an honor system.”

Persons: ”, Neal Fortin Organizations: Drug Administration, The New York Times, Institute for Food Laws, Michigan State University, “

☆ The 'best' investment right now: Fund manager picks stocks with almost 15% total returns
▼ + stars: | 2024-02-26 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Shares of oil giants and European infrastructure companies can act as a hedge against inflation while also delivering strong annual growth, according to fund manager Freddie Lait. Lait manages two funds — the Latitude Horizon Fund and the Latitude Global Fund — with more than $750 million of assets collectively and holds all three stocks in both funds. BP SHEL 1Y line The fund manager explained that with oil currently around $85 per barrel, and his assumption of $70-75 long-term, his oil and gas stock picks can generate nearly double-digit annual returns for shareholders. 'Phenomenally interesting' stock Beyond energy names, Lait said his favorite inflation-linked stock is Vinci which he described as "phenomenally interesting." The company operates a mix of toll roads and civil engineering projects with long-term inflation adjustment mechanisms.

Persons: Freddie Lait, Lait, Vinci, Goldman Sachs Organizations: Latitude Investment Management, Shell, CNBC Pro, International Energy Agency, London Gatwick, Atlantic City International, Vinci Locations: Saudi Arabia's, Aramco, Burbank, United States

☆ Analysis: While eyes are on Trump, Supreme Court conservatives prepare to rewrite the rulebook
▼ + stars: | 2024-02-23 | by ( Joan Biskupic | ) edition.cnn.com time to read: +10 min

Supreme Court conservatives are accelerating their moves to overhaul the way the federal government protects Americans, whether from air pollution or unfair financial practices. The case has determined a swath of court judgments on agency policy, well beyond the environmental realms, and become one of the most cited rulings in Supreme Court history. The Corner Post is protesting a Federal Reserve rule adopted in 2011 that caps debit card fees merchants obtain with every transaction. Three Republican-led states and power industry groups turned to the high court, seeking immediate relief and asking that any implementation be barred. Kagan focused on the multiple preliminary issues that lower court judges would have typically assessed before the case reached the justices.

Persons: Donald Trump, won’t, Elena Kagan, Let’s, Trump, Neil Gorsuch, Brett Kavanaugh, Amy Coney Barrett, Barrett, Kagan, Benjamin Snyder, Chevron, Gorsuch, ”, ” Gorsuch, John Roberts, Snyder, “, Ketanji Brown Jackson, Bryan Weir, ” Weir, Honig, Roberts, Malcolm Stewart, ” Jackson, Mathura, ” Sridharan, Jackson, Sonia Sotomayor, Catherine Stetson, it’s Organizations: CNN, Securities, Exchange Commission, Food, Chevron, Natural Resources Defense Council, Department, Federal, ”, Federal Reserve, ” Liberal, Corner Post, Liberal, DC Circuit, Republican, EPA Locations: Washington, American, North Dakota, “, Ohio

☆ CNBC Pro Talks: Fund manager reveals his favorite 'Magnificent 7' alternatives and more
▼ + stars: | 2024-02-21 | 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 EmailCNBC Pro Talks: Fund manager reveals his favorite 'Magnificent 7' alternatives and moreA no-landing scenario for the U.S. economy could mean a rally in some currently unloved stocks, according to Freddie Lait, chief investment officer at Latitude Investment Management. Lait nevertheless warned that the current market rally is very narrow and "Magnificent Seven" stocks could face trouble, if interest rates stay higher for longer, or if earnings growth slows.

Persons: Freddie Lait, Lait Organizations: Latitude Investment Management Locations: U.S

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