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☆ Here are Wednesday's biggest analyst calls: Nvidia, Amazon, Alphabet, FedEx, Tesla, Caterpillar, Shopify, Disney & more
▼ + stars: | 2024-06-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are the biggest calls on Wall Street on Wednesday: Stifel initiates Tesla at buy Stifel said it's bullish on Tesla for the long term. JPMorgan upgrades FedEx to overweight from neutral JPMorgan upgraded the shipping giant following earnings on Tuesday. Jefferies reiterates Alphabet as buy Jefferies said its survey checks show Alphabet is top of mind for consumers when it comes to AI. Citi reiterates Nvidia as buy Citi raised its price target on Nvidia to $150 per share from $126. Morgan Stanley downgrades Accenture to equal weight from overweight Morgan Stanley said shares of the IT company are "no longer" attractive.

Persons: Tesla, Stifel, it's, Piper Sandler, Piper, Goldman Sachs, Goldman, Mark Clouse, Carrie Anderson, Rebecca Gardy, Wolfe, HOOD, Warnick, Shopify, Rosenblatt, Nike's, Morgan Stanley, Jefferies, GOOGL, Stephens, Wells, BTIG, Northrop, Rivian, Piper Sandler downgrades Aptiv Organizations: JPMorgan, FedEx, Campbell, Barclays, Nu Holdings, BMO, Steel, Nippon, US Steel, X, Digital Realty, Citi, U.S, Caterpillar, Apple, Apple Intelligence, Android, UBS, Nike, Nvidia, Davidson, Home, Bank of America, " Bank of America, shipper, UPS, Cruises, Northrop Grumman, VW, JV, Accenture Locations: 1Q24, Mexico, Brazil, China, Houston, U.S, Rivian

☆ Casa Susanna: How an upstate New York home became a safe haven for trans women in 1960s America
▼ + stars: | 2024-06-26 | by ( Suyin Haynes | ) edition.cnn.com time to read: +11 min

Her name is Susanna Valenti, and her home is Casa Susanna, located in the Catskills, in upstate New York. Pictured above, guests with Susanna Valenti (right) in her wife Marie Tonell's New York City apartment, circa 1960-63. Susanna (right) and two friends are pictured on a swing set at Casa Susanna, circa 1960. In discoveries of other Casa Susanna photographs, multiple copies of the same image have been found. I think people find it somewhere between charming and mind blowing.” Pictured above, guests at Casa Susanna circa 1964-68.

Persons: Susanna Valenti, Casa, Casa Susanna, “ Casa, Valenti, Marie Tonell, Cindy Sherman, Louise Lawrence, Harvey Fierstein’s “, Valentina ”, Sophie Hackett, Marie Tonell's, Susan Stryker, “, ” Stryker, I’ve, ’, ‘, Virginia Prince, Stryker, “ Transvestia ”, Susanna, Lili, Wilma, Prince, Virginia, ”, Susanna Says, Casa Susanna ., Tonell, Gloria, Jessica, Lee Miller, ” Lili, that’s, Hackett, ” Hackett, Transvestia, ” Prince, Transvestia ”, Isabelle Bonnet Organizations: CNN, Art, Ontario’s, First Trans Network, Louise Lawrence Transgender, Casa Susanna, Hudson, Casa, Virginia, of Ontario, Prince Locations: New York, United States, New York City, York City, Los Angeles, America, Casa, Chile, Michigan, Colombian, Thames, Hudson

☆ Denmark to charge $100 per cow in world’s first carbon tax on farming
▼ + stars: | 2024-06-26 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Dairy farmers in Denmark face having to pay an annual tax of 672 krone ($96) per cow for the planet-heating emissions they generate. The country’s coalition government agreed this week to introduce the world’s first carbon emissions tax on agriculture. On average, Danish dairy cows, which account for much of the cattle population, emit 5.6 tonnes of CO2-equivalent per year, according to Concito, a green think tank in Denmark. Using the lower tax rate of 120 krone results in a charge of 672 krone per cow, or $96. With the tax break in place, that levy will rise to 1,680 krone per cow in 2035 ($241).

Persons: Lars Lokke Rasmussen, “, ”, Torsten Hasforth, Landbrug, Peter Kiær, ” Peder Tuborgh, Kristian Hundeboll Organizations: London CNN — Dairy, ”, United Nations, Food, Agriculture Organization, CNN, Arla Foods, DLG, Initiative Locations: Denmark, Danish, Europe

☆ The debate night contrast Biden hopes will win the 2024 election
▼ + stars: | 2024-06-26 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —The Almighty won’t be standing on stage alongside Joe Biden on Thursday night. Biden’s campaign laid the groundwork for the Atlanta showdown hosted by CNN in a weekend memo. If Trump rants and vents his 2020 election lies on Thursday, he will play into Biden’s hands. That could avoid the mayhem of the first Trump v. Biden debate in 2020. His campaign has spent days trying to roll back his expectations of Biden as a doddering, elderly president who can’t string two words together.

Persons: Joe Biden, Donald Trump, “, ‘ Joey, don’t, Trump, ”, zealots, Biden, Michael Tyler, Mitch Landrieu, Kayla Tausche, it’s, George W, Democrat John Kerry’s, Barack Obama’s, Mitt Romney, Cronkite, TikTok, he’s, — they’ve, Karl Rove, Trump can’t, shouldn’t, Kristi Noem, Trumpian, Jason Miller, ” Miller, Massachusetts Sen, Elizabeth Warren, ” Warren, they’ll, he’ll Organizations: CNN, Atlanta, ” Biden, Trump, Democrat, GOP, White, Capitol, Voters, Biden, . South Dakota Gov, NBC, Union, Massachusetts Locations: Democrat John Kerry’s Vietnam, Washington, New York, ., Atlanta, State, Wisconsin

☆ China's EV architect says investing in Europe is a way forward
▼ + stars: | 2024-06-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

HEFEI, China — The man who spearheaded China's electric car strategy on Wednesday said that Chinese investment in the European electric vehicles industry could be a way forward for both sides amid trade tensions. Spokespersons for China's foreign ministry and the European Commission were not immediately available when contacted by CNBC. China's Ministry of Commerce said over the weekend that it was launching consultations with the EU over the bloc's probe into the role of subsidies in Chinese electric cars. The EU said earlier this month that it would increase tariffs on imports of the vehicles. "Even though we are not exporting a large number of EVs, perhaps the Chinese companies can try investing in Europe," Wan said, noting that such funding could create local jobs.

Persons: Wan Organizations: Wan Gang, China Association for Science, Technology, European Commission, CNBC, China's Ministry of Commerce, EU Locations: HEFEI, China, EU, Dalian, Europe

☆ The Nvidia spell has been broken. Here’s what could come next
▼ + stars: | 2024-06-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

London CNN —Nvidia, Nvidia, Nvidia. Nvidia’s stock bounced back Tuesday, yet investors have been reminded of a potentially bubble-bursting truth: You can fly too close to the sun. For context, it took Warren Buffett about 60 years to build Berkshire Hathaway into a nearly trillion dollar company. But typical volatility can have seismic repercussions when it comes to a stock as all-consuming as Nvidia. Analysts at The Carlyle Group say that while artificial intelligence is revolutionizing the world around us, the Nvidia stock bubble will eventually burst.

Persons: Warren Buffett, Berkshire Hathaway, Microsoft’s, ”, Jim Smigiel, Louis Navellier, Nvidia’s, ” Jochen Stanzl, Emily Bowersock Hill, Jason Thomas, Carlyle’s, ” Neil Roarty, Stocklytics, —, Levi’s, “, LEVI, ” Read, Ryan Callahan, ” Callahan, CDK, Tom McParland Organizations: CNN Business, Bell, London CNN, Nvidia, Berkshire, Deutsche Bank, SEI, Navellier, Associates, CMC, CNN, Bowersock Capital Partners, The Carlyle Group, ’ Association, Mazda, North America, Automatic Consulting Locations: London, Turkey, Istanbul, Seekonk , Massachusetts

☆ Nvidia's moat will be tested by a potential AI chip IPO
▼ + stars: | 2024-06-26 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

Cerebras Systems, a startup trying to challenge Nvidia on the AI chip battlefield, is reportedly headed for an IPO toward the end of 2024. This is one of the primary elements holding back even some AWS customers from using Amazon's AI chips. But, most AI developers must go through gnarly work to change their software if they want to change their hardware. His startup Vimaan is building tech for a future "dark warehouse" that requires no humans to operate. Advertisement"Am I gonna take a chance to switch out a whole infrastructure that we've built on the Nvidia platform?"

Persons: —, Lior Susan, Susan, CUDA, Thomvest, they're, He's, Padval, Jensen Huang, Thomas Sohmers, Ganapathi, Vimaan, Pavdal Organizations: Service, Cerebras Systems, Nvidia, Eclipse Ventures, Business, CUDA, NVIDIA CUDA, AMD, Qualcomm, Google, Intel, UXL Foundation, Amazon's Industrial Innovation Fund Locations: CUDA

☆ Opinion | How Can Biden Win the Debate? Trump? Five Tips for Each Candidate.
▼ + stars: | 2024-06-26 | by ( New York Times Opinion | ) www.nytimes.com time to read: +1 min

Joe Biden and Donald Trump will face off Thursday night for the first general-election debate of the 2024 presidential election cycle. Mr. Trump and his MAGA allies have tried to portray the president as a doddering geriatric who can’t complete a sentence. Simply appearing engaged, alert and coherent will be a victory for Mr. Biden. Mr. Biden would also do well to remember this fact: Incumbent presidents almost always lose the first debate. Mr. Biden must recast the race from a referendum on his presidency to a stark choice between himself and Mr. Trump.

Persons: Joe Biden, Donald Trump, Chris Whipple Chris Whipple, Joe Biden’s, Trump, MAGA, Mr, Biden, Ronald Reagan, Barack Obama, “, Obama, we’re, ’ ”, Jim Messina, Obama’s, Herbert Hoover, ” Organizations: White House Chiefs, Staff

☆ Spencer Milligan, ‘Land of the Lost’ star, dead at 86
▼ + stars: | 2024-06-26 | by ( Jack Guy | ) edition.cnn.com time to read: +1 min

CNN —Actor Spencer Milligan, best known for playing Rick Marshall in 1970s kids’ TV show “Land of the Lost,” has died at age 86. Milligan was born September 10, 1937, in Oak Park, Illinois, and died on April 18, according an obituary posted on the website of a funeral home in Sturgeon Bay, Wisconsin, where he lived. It was during this period that he played his most famous role, appearing in 30 episodes of “Land of the Lost” from 1974 to 1975. Wesley Eure as Will Marshall (left), Kathy Coleman as Holly Marshall (second-left), Philip Paley as Cha-Ka (second-right) and Spencer Milligan as Rick Marshall in "Land of the Lost." Milligan’s “Land of the Lost” co-stars Eure and Coleman paid tribute to their friend in a video posted on Facebook.

Persons: Spencer Milligan, Rick Marshall, ”, Milligan, Wesley Eure, Will Marshall, Kathy Coleman, Holly Marshall, Philip Paley, Cha, Ron Tom, Dukes, Hazzard ”, Kerry, Eure, Coleman, “ Organizations: CNN, “, Bank, Getty, “ Police, Facebook Locations: Oak Park , Illinois, Sturgeon Bay , Wisconsin, Illinois, California, Lake Michigan, “, Eure

☆ Trade feuds aside, Chinese firms are committed to the U.S. market, survey shows
▼ + stars: | 2024-06-26 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

A recent survey of Chinese enterprises in the U.S. has found that a majority remain bullish on the market long term despite growing concerns about U.S.-China relations and the broader business environment. The survey was conducted in April and May of this year, polling nearly 100 Chinese companies across various industries about performance and outlook. The report said Chinese firms remain committed to the U.S. market despite growing negative sentiment about the overall business environment amid rising trade tensions between the world's two largest economies. Over 60% of survey respondents saw a deteriorating business environment in the U.S. Over the past year, the Biden administration has ramped up curbs on Chinese businesses, scrutinizing certain China-dominated industries, placing new sanctions on various Chinese firms and goods and trying to outright block Chinese ownership of certain companies and platforms.

Persons: CGCC, Biden Organizations: Chamber of Commerce Locations: U.S, China

☆ This Southeast Asian city is the world's most expensive for the super rich — Hong Kong comes second
▼ + stars: | 2024-06-26 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

All this is reflected in its continued status as the world's most expensive city," the report said. Singapore was followed by Hong Kong, which upstaged Shanghai to emerge as the second most expensive city for the wealthy. Prices for hotel suites (+22.9%), ladies' shoes (+12.7%), and ladies' handbag (+8.6%) saw the biggest increases in the city. London Hotel suites and jewelry were the second-most expensive items across the 25 cities, with prices soaring 38.3% and 17.%, respectively. Here's Julius Baer's list of the world's 10 most expensive cities for high net worth individuals:

Persons: Julius Baer, normalizations, Here's Julius Baer's Organizations: Wealth, Private Locations: Singapore, Swiss, U.S, Hong Kong, Shanghai, London

☆ A veteran fund manager who's more than quadrupled the S&P 500's return in the last 32 years explains how he finds deeply undervalued stocks — and shares how he made one of his best trades ever
▼ + stars: | 2024-06-26 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

Stocks often trade above or below their fair value, which means active managers who choose stocks wisely can score huge eye-popping returns. "What we're really looking for is opportunities where that dollar can also compound to be two, four, 10," Robotti said. "People say, 'Oh, who cares if you buy a cheap stock, the market just won't ever pay attention. When the economics of a business — even if people hate that business — are extremely strong, the stock follows." "If you bought it at 20 cents on the dollar and it doubles, you don't sell it at 40 cents on the dollar," Robotti said.

Persons: —, Bob Robotti, Robotti, that's, couldn't, James Carville, people's, he's Organizations: Service, Cornell, P Global, Business, drillers, Tidewater, GulfMark, Swire Pacific Locations: Houston

☆ Microsoft's new AI chief explains what's at the top of his to-do list
▼ + stars: | 2024-06-26 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Microsoft's AI chief, Mustafa Suleyman, has laid out his main goals for the company. In a podcast chat with Seth Rosenberg, Suleyman said he wanted to "uplevel" Copilot's quality. AdvertisementMicrosoft's newly installed AI chief, Mustafa Suleyman, is keen to ensure that the Big Tech company is not underestimated. On a recent podcast with Seth Rosenberg, Suleyman explained his new responsibilities at the company. He said he oversaw key teams, including Bing and Edge, and Copilot, Microsoft's flagship AI product.

Persons: Mustafa Suleyman, Seth Rosenberg, Suleyman, —, he'd Organizations: Bing, Service, Big Tech, Business

☆ Top Twitch streamer Kai Cenat got a therapist to help him beat a video game boss he was stuck on for over 60 hours
▼ + stars: | 2024-06-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

Read previewFrustrated with his performance against a video game boss, Twitch streamer and YouTuber Kai Cenat went viral on Tuesday evening for bringing a therapist to his livestream to help process his emotions. Cenat, 22, was well into his 60th hour of fighting the final boss of the "Elden Ring: Shadow of the Erdtree" when Aubri Williams appeared in his streaming room. AdvertisementCalming down and steeling his mind under Williams' guidance, Cenat played the boss fight again for her to observe. Cenat would defeat Radahn about six hours and 40 deaths later, or 67 hours after his first encounter with the video game boss. AdvertisementWilliams and representatives for Cenat did not immediately respond to requests for comment sent by Business Insider outside regular business hours.

Persons: —, Kai Cenat, Aubri Williams, Williams, Cenat, Tyler, Ninja, Blevins, Dan Clancy, — Williams, Instagram, Radahn Organizations: Service, Business, Bandai, AAA, IGN, Counselling, Stetson University, Cenat

Artificial intelligence is set to give the global data center market a major boost, according to Jefferies, and usher in a "new era of electricity demand." "As GPUs [graphics processing units] have become a larger part of the data center ecosystem and drive AI investments, demand for power and data center space has grown at a feverish pace," the investment bank's analysts wrote in a June 18 note. They noted that demand for data center space has increased between 10% and 20% each year for most of the past 15 years. As the data center market grows, so will demand for electricity, Jefferies said, naming a slew of beneficiaries in these segments and beyond. Among the "pure-play data center" names it likes are Digital Realty Trust and Equinix .

Persons: Jefferies, Stocks, — CNBC's Michael Bloom Organizations: Digital Realty Trust Locations: U.S, Europe, Freeport, McMoRan

☆ Céline Dion insisted on keeping muscle spasm footage in documentary, director says
▼ + stars: | 2024-06-26 | by ( Rosa Rahimi | ) edition.cnn.com time to read: +2 min

CNN —Céline Dion insisted that graphic footage of herself having a violent muscle spasm should stay in a new documentary about her life, the film’s director has said. In an interview with Variety, Irene Taylor, the director of “I Am: Céline Dion,” said the legendary singer insisted on keeping the “intensely revealing” moment in the final cut. Upon being shown the footage, “the very first thing she said was, ‘I think this film can help me,’” according to Taylor. Only minutes before, Dion had finished two days of recording for the first time in four years. Despite her discomfort and uncertainty about filming the incident, Taylor told Variety that she held on to her boom mic and kept filming.

Persons: CNN — Céline Dion, Irene Taylor, “, Céline Dion, ”, ‘, ’, Taylor, Dion, ” Dion Organizations: CNN, Variety, “, National Institute of Neurological Disorders, Amazon’s

☆ Your 401(k) is up, and a new report shows increased savings. But Americans need to do more
▼ + stars: | 2024-06-26 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

The bad news: account balances for the median 401(k) of a person approaching retirement (65+) remains very low. Higher returns, participation rates, savings ratesWhy do we care so much about 401(k) plans? Thanks to a change in the law several years ago, a record-high 59% of plans offered automatic enrollment in 401(k) plans. By switching to automatic enrollment, participants were automatically enrolled and had to "opt-out" if they did not want to participate. Plans with automatic enrollment had a 94% participation rate, compared with 67% for voluntary enrollment plans.

Persons: John James Organizations: Vanguard, Fidelity, Social Security, Institutional Investor Group, Social, Security, Pension Rights Center

☆ Tension and Tear Gas Linger in Kenya After Tax Protests Turn Deadly
▼ + stars: | 2024-06-26 | by ( Abdi Latif Dahir | ) www.nytimes.com time to read: +1 min

In downtown Nairobi, the capital, the strong smell of tear gas still wafted through the air after the clashes between protesters and the police. Large rocks and a burned car were strewed next to the City Hall offices that protesters had breached. Police officers also cordoned off the streets leading to Parliament and were not allowing pedestrians to pass. Although businesses were slowly reopening across Kenya, newspapers being sold on the streets of Nairobi captured the chaos of the previous day. “Pandemonium,” the front page of the Daily Nation newspaper said.

Persons: William Ruto Organizations: City Hall, Police, Daily Nation, The Star Locations: Kenya, East, Nairobi

☆ Levi’s under fire after supplier laid off hundreds of workers in Turkey
▼ + stars: | 2024-06-26 | by ( Scott Mclean | ) edition.cnn.com time to read: +10 min

Ozak Tekstil told CNN it had terminated the workers “as a last resort” when they declined an invitation to return to work. If it refused, “we will be forced to take the appropriate next steps to uphold workers’ rights,” Levi’s wrote. It did not reinstate all of the fired workers. Inside the Ozak Tekstil factory in Sanliurfa, Turkey, in December 2023. The Ozak Tekstil factory in Sanliurfa, Turkey, in December 2023.

Persons: “, Levi’s, LEVI, Ozak Tekstil, Zara, Hugo Boss, Guess, Ralph Lauren, Seher Gulel, Gulel, ”, Sen, Tekstil, Levi Strauss, Justin Sullivan, ” Gulel, enshrines, Sen didn’t, unionize, ” Ozak Tekstil, ” Levi’s, Scott Nova, ” Nova, “ Ozak, Carolin Westermann, Funda Bakis, CNN Bakis, Bakis, ” Bakis, Tanem Zaman, Eyad Kourdi, Brice Laine Organizations: Istanbul CNN —, ’ Association, Worker Rights Consortium, CNN, Birtek, WRC, Ozak Locations: Istanbul, Turkey, Turkey’s Sanliurfa, San Francisco , California, Sanliurfa

☆ Biden may let US defense contractors deploy to Ukraine, but not like in Iraq and Afghanistan: report
▼ + stars: | 2024-06-26 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Read previewPresident Joe Biden's administration is moving toward a plan that would allow US military contractors to deploy to Ukraine for the first time in a limited capacity, CNN reported. Advertisement"The President is absolutely firm that he will not be sending US troops to Ukraine," they added. AdvertisementThey also said that the move would likely see numbers from just a few dozen, up to around 200, contractors in Ukraine at any one time. In February, European leaders balked at French President Emmanuel Macron's statement that the deployment of Western troops to Ukraine should not be ruled out. Allowing US private contractors to go to Ukraine would not be the first time that the Biden White House has crossed its self-imposed red lines regarding support for Ukraine.

Persons: —, Joe Biden's, Biden, Emmanuel Macron's, Macron Organizations: Service, CNN, Pentagon, Business, NATO, Biden White Locations: Ukraine, Iraq, Afghanistan

☆ CNBC Daily Open: Nvidia rallies after sell-off, lifts S&P 500 and Nasdaq
▼ + stars: | 2024-06-26 | by ( Abid Ali | ) www.cnbc.com time to read: +3 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. Nvidia sparks rallyThe S&P 500 and the Nasdaq Composite snapped a three-day slide as Nvidia rebounded from a sell-off. Trump inflation warningSixteen Nobel Prize-winning economists signed a joint letter Tuesday warning of what they see as economic risks if former President Donald Trump were to serve a second term, including 'reignite' inflation. "There is rightly a worry that Donald Trump will reignite this inflation, with his fiscally irresponsible budgets," they said.

Persons: Goldman Sachs, Rivian, Donald Trump, Joe, Donald Trump's, Michelle Bowman Organizations: New York Stock Exchange, CNBC, Nvidia, Nasdaq, Dow Jones, Boeing, Home, Treasury, Volkswagen, VW, Ford, Detroit automaker, Trump, Federal, European, Microsoft, Salesforce, Dow Locations: New York City, EU

☆ Two Adidas employees out in China corruption probe
▼ + stars: | 2024-06-26 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Two employees have left Adidas as a result of an ongoing investigation by the German sportswear brand into allegations of corruption in China. Chinese state media outlet Economic View reported Wednesday that both former employees had worked in marketing for Adidas China. The allegations against Adidas executives were contained in an unsigned letter from people calling themselves employees of Adidas China. Greater China — a region that encompasses mainland China, Hong Kong and Taiwan — accounts for 15% of the company’s sales. In mainland China, Adidas is the second-largest international sportswear brand behind Nike (NKE).

Persons: ” Claudia Lange, “, ”, Jiemian, Lange, Yang Mi, Yi, Fred Organizations: Hong Kong CNN —, Adidas, “, Adidas China, CNN, Nike Locations: China, Hong Kong, Taiwan, Beijing

☆ Top corporate CFOs are losing some confidence in economy, as consumer demand fears spike
▼ + stars: | 2024-06-26 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

Fears among top corporate CFOs about shaky consumer demand have hit a six-quarter higher, according to the latest CNBC CFO Council survey, with the Q2 survey the first time since the beginning of 2023 that over half of CFOs cited consumer demand as the biggest external risk to their business. Consumer demand fears among CFOs have been rising in recent quarters, and match evidence from the market across sectors, with fast-food chains rushing out value menus and car dealers having more difficulty moving inventory. The 54% of CFOs who cited consumer demand as the biggest risk is up from 18% a year ago, and 37% last quarter. Last quarter, almost half of CFOs forecast a 10-year yield that would dip below 4% by the end of the year. But now, CFOs have pushed out their inflation view even further.

Persons: Walmart's, isn't, CFOs, Jerome Powell, it's, Donald Trump Organizations: CNBC, Food, Federal Reserve, Fed, Dow Jones, Biden

☆ Morgan Stanley wealth advisors are about to get an OpenAI-powered assistant to do their grunt work
▼ + stars: | 2024-06-26 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

The assistant, called Debrief, keeps detailed logs of advisors' meetings and automatically creates draft emails and summaries of the discussions, bank executives told CNBC. Morgan Stanley's wealth management division hosts about 1 million Zoom calls a year, the bank told CNBC. Zoom In Icon Arrows pointing outwards Morgan Stanley’s new Debrief program, a new AI tool for wealth management advisors based on OpenAI’s GPT-4. In a sense, Morgan Stanley's projects in generative AI amount to a "grand experiment in productivity," said McMillan. Morgan Stanley's wealth management division is one of the world's largest with $5.5 trillion in client assets as of March; the firm wants to reach $10 trillion.

Persons: Bing Guan, Morgan Stanley, Jeff McMillan, Morgan Stanley's, McMillan, Morgan, I'm, Don Whitehead, who's Organizations: Bloomberg, Getty, CNBC Locations: Houston

☆ Bosses are using 'silent lay-offs' and 'quiet firing' to get rid of employees. It could backfire.
▼ + stars: | 2024-06-26 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +6 min

But the latest workplace trends — "silent layoffs" and "quiet firing" — could be the most harmful to date. Silent layoffs occur when a company provides staff with severance packages but asks them to keep quiet about the details of their exit. Amit Rawal, a management lecturer at City University of London's Bayes Business School, told BI that silent layoffs have become "increasingly popular across larger corporations." Related storiesThe goal of silent layoffs is likely to minimize the amount of negative traction the company receives. Advertisement'A PR disaster waiting to happen'Experts told BI that quietly getting rid of employees could easily backfire when employees opt to fight back and speak out.

Persons: —, PwC, Mohamed Kande, Amit Rawal, Eloise Skinner, it's, Skinner, Lucas Botzen, Suzanne Horne, Paul Hasting, Evan Nierman, Banyan, Dan Buckley, Buckley, Nierman, Horne Organizations: Service, Business, Financial Times, PwC Global Network, Europa Press, City University, London's Bayes Business, National Labor Relations, CNN, National Labor Relations Board, Dell, Workers, Amazon, BBC

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