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☆ ValueAct takes a stake in Sanwa. How the activist can make a good company into a great one
▼ + stars: | 2024-09-28 | by ( Kenneth Squire | ) www.cnbc.com time to read: +9 min

Business: Sanwa Holdings is a Japan-based company mainly engaged in the manufacture and sale of building and commercial facility construction materials, as well as the provision of maintenance and renovation services. Activist Commentary: ValueAct has been a premier corporate governance investor for over 20 years. Ahead of any shareholder value creation, ValueAct will likely call for increased shareholder returns in the form of buybacks to capitalize on the Sanwa's relatively low valuation. ValueAct is likely to continue as an active shareholder while Sanwa continues to do what it's been doing, just on a faster timetable. As an engaged investor, ValueAct has historically closed the gap between "good" and "great" by supporting management in executing its plan.

Persons: ValueAct, Rob Hale, Hale, Sanwa, Clopay, healthily, It's, Dalton, Ken Squire Organizations: Sanwa, Olympus, JSR, ValueAct, Griffon Corp, KKR, Nikkei, U.S, Dalton Investments, 13D Locations: Japan, North America, Europe, U.S, Asia

☆ The No. 1 phrase parents with high emotional intelligence say to reduce stress, says Harvard-trained coach
▼ + stars: | 2024-09-28 | by ( Dr. Jenny Woo | ) www.cnbc.com time to read: +1 min

In a recent survey from the American Psychological Association, nearly half of the parents polled reported feeling overwhelming stress on most days. This unrelenting strain has become so prevalent in the U.S. that the Surgeon General issued an advisory warning on the mental health and well-being of parents and caregivers. Parents today spend more time with their kids than parents did in the mid-'60s, yet many are still plagued by guilt and worry that they're not doing enough. In an age of compulsive comparison and childhood enrichment, it's easy to fall into the trap of feeling inadequate while overparenting. DON'T MISS: How to master your money and grow your wealthIn my work as a Harvard-trained EQ educator, I've found that there is one phrase that parents with high emotional intelligence use to help them stress less and raise capable kids: "I'm good enough."

Persons: they're, I've Organizations: American Psychological Association, Harvard Locations: U.S

☆ Self-made millionaire's advice to help a couple rein in their spending after racking up $65,000 in credit card debt: 'It's not about whack-a-mole'
▼ + stars: | 2024-09-28 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

Kathleen said that her principles have been, "It was all going to work out eventually," and "Let's not worry about it." "It's not simply one decision or two, because if we simply try to do it by decisions, it's like playing whack-a-mole," Sethi said. He walked the couple through a few exercises to see how they feel and think about money. They want to feel proud, empowered and like they actually are as well off as their salary and lifestyle suggests. They say they're committed to making the necessary changes to get there, but they also accepted that it's not going to be easy.

Persons: Sethi, Kathleen, it's, It's, They're, they're Locations: Montana

Chappell Roan — who faced a dayslong backlash online for her recent comments about the November presidential election — announced Friday that she is dropping out of the All Things Go music festivals. In a statement on her Instagram story, Roan apologized to fans, saying that "things have gotten overwhelming over the past few weeks." All Things Go issued its support for Roan, saying in a statement on X that "health and well-being always comes first." "All Things Go strongly supports artists prioritizing their well-being and we ask our community to rally behind Chappell Roan with love and understanding," the festival wrote in its statement, sharing a screenshot of Roan's Instagram story. "Let's continue to show the world that music fans support not only the art, but the artists themselves."

Persons: Chappell Roan —, —, Roan, Chappell Roan, Let's, Kamala Harris, ” Roan Organizations: Guardian, Governors Ball Music, White, Democratic Party Locations: New York City, Columbia , Maryland, Gaza, Franklin , Tennessee

☆ Bad blood with Republicans drives a decline in Taylor Swift's poll numbers
▼ + stars: | 2024-09-27 | by ( Faith Wardwell | Faith Wardwell Is An Intern At Nbc News. | ) www.nbcnews.com time to read: +2 min

Republican views of Taylor Swift have taken a nosedive in comparison to last year, a new NBC News poll shows, weeks after the pop singer announced her endorsement of Vice President Kamala Harris. Just 12% of Republicans report positive attitudes toward the singer, down from 28% last year. Among Democrats, 58% view Swift in a positive light, a slight increase from 53% in 2023. About 26% of independents have a positive attitude toward Swift, a drop from 34% in 2023. The significant shift from Republican voters has pushed Swift’s overall favorability rating among registered voters lower than last year, decreasing from 40% in 2023 to 33% this year.

Persons: Taylor Swift, Kamala Harris, Swift, Jeff Horwitt, Democratic pollster, Bill McInturff, Horwitt, Harris, Donald Trump, ” Swift, Lady, ”, Sen, JD Vance, Trump’s, “, Trump, TAYLOR SWIFT, ” Harris Organizations: NBC, Republican, Hart Research Associates, Democratic, NBC News Locations: R, Ohio

☆ Netanyahu lashes out at U.N. as he defends Israel's actions in Gaza and Lebanon
▼ + stars: | 2024-09-27 | by ( Aurora Almendral | Aurora Almendral Is A London-Based Editor With Nbc News Digital. | ) www.nbcnews.com time to read: +6 min

Israel's Prime Minister Benjamin Netanyahu defiantly faced an international community from which he has become deeply isolated amid international condemnation of Israel's war in the Gaza Strip and the military's fresh escalations in Lebanon. As the General Assembly president called the room to order, groups of diplomats stood up and walked out of the room, leaving a sparse audience on the delegate floor. More than 40,000 people have been killed in Gaza in Israel's ensuing war with Hamas. Earlier this month, the General Assembly passed a historic, if symbolic, resolution with an overwhelming majority, demanding that Israel withdraw from the Palestinian territories within a year. The resolutions, like all General Assembly resolutions, are nonbinding and were resoundingly ignored by Israel.

Persons: Benjamin Netanyahu, Netanyahu, ” Yokonan Landau, ”, “, Israel, Francesca Albanese, António Guterres, Guterres, Netanyahu — Organizations: Israel's, United Nations, Assembly, General, General Assembly, Israel, Hamas, Court of Justice, West Bank, Human Rights, UNRWA Locations: Gaza, Lebanon, New York, Iran, Israel, Midtown Manhattan, Nations, Israel's, U.S, France, Syria, Rafah

Meeting with Ukrainian President Volodymr Zelenskyy for the first time in five years, former President Donald Trump complained about his 2019 impeachment and said if re-elected he would work to end the Russia-Ukraine war with a deal “that’s good for both sides." Trump said the two leaders "have a very good relationship, and I also have a very good relationship, as you know, with [Russian] President [Vladimir] Putin." During the July phone call, Trump asked Zelenskyy about opening an investigation into President Joe Biden and his son Hunter Biden. "It was a hoax, just a Democrat hoax, which we won," Trump said of the impeachment effort, with Zelenskyy standing by his side Friday. They last met in person when Trump was president, on the sidelines of the United Nations General Assembly in Sept. 2019.

Persons: Volodymr Zelenskyy, Donald Trump, Trump, He’s, Vladimir, Putin, ranted, Zelenskyy, Joe Biden, Hunter Biden, Bill Taylor Organizations: Zelenskyy, Democrat, United Nations General Assembly, Trump Locations: Russia, Ukraine, United States, Ukrainian

Republicans stand a good chance of erasing the Democrats’ narrow 51-49 Senate majority in November, a hard reality that complicates Harris' transition planning. Members of Harris’ transition team have studied that one — the handoff from Ronald Reagan to George H.W. Harris' team is operating under an unusually compressed timeline and is still building the basic apparatus needed to vet potential hires and staff an administration. Last month, Harris' campaign appointed Yohannes Abraham to run the team that is preparing for a transfer of power. He came to his new role with direct experience, having been executive director of Biden’s transition in 2020.

Persons: WASHINGTON, Kamala Harris, Harris, who’ve, Joe Biden, Biden, undercutting, —, Barack Obama, Robert Gates, George W, Bush's, Gates, ”, It’s, Ronald Reagan, George H.W, George H.W . Bush, They've, Hillary Clinton, Obama, Donald Trump, Yohannes Abraham, Abraham, Trump, “, she’s, Max Stier, There’s, Christine Wormuth, Kathleen Hicks, Michèle Flournoy, Rosa Brooks, ” Brooks, ” Harris, William Burns, Burns, who've, he's, Rohini Kosoglu, Harris ’, Julianne Smith, Phil Gordon, Sens, Chris Murphy, Chris Coons, Linda Thomas, Greenfield, Samantha Power, Walz, Pete Buttigieg, Buttigieg, it’s “, Gina Raimondo, Joe ”, ” Raimondo, Raimondo Organizations: Republican, Biden, Senate, NBC, Trump, Pentagon, Democratic, Senate Democrats, Republicans, University of Virginia's, Association of Southeast Asian Nations, ASEAN, Partnership for Public Service, Army, CIA, White House, NATO, United Nations, U.S . Agency for International Development, Transportation, Biden's Cabinet, Fox News Locations: Washington, George H.W ., U.S, Indonesia, Connecticut, Delaware, United, Biden's

Taylor County expects to take a direct hit from the Category 4 storm, which is expected to make landfall Thursday night. Taylor County, in northern Florida near the Big Bend region, is home to 20,000 residents, Padgett said. Follow here for live updatesAs in other spots in Florida, mandatory evacuations were ordered for Taylor County, but Padgett estimated that as much as half of his population is choosing to stay put. Uber has offered to take Taylor County residents to shelters outside the county, Padgett said. Helene is the third major storm within a year for Taylor County, Padgett said, "But we're going to endure.

Persons: PERRY, Helene, Mark, Sheriff Wayne Padgett, Padgett, It's, We've, I've, ” Padgett, Uber Organizations: Sheriff, Taylor County Locations: Fla, Taylor, Taylor County, Florida, Bend

☆ Google's reported $2.7 billion deal to bring back a former employee is proof AI geniuses are the new 'star quarterbacks'
▼ + stars: | 2024-09-27 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Google struck a $2.7 billion deal with Character.ai., largley to rehire AI expert Noam Shazeer, WSJ reported. It's an eye-popping example of how expensive and in demand top AI talent is as competition heats up. AI career experts told Business Insider it's a bit like pro sports — the superstars are worth it. AdvertisementThere are plenty of stories out there about just how ruthless the hiring wars for AI talent have gotten. Grennan predicted this pattern will continue as the AI talent window stays hot for the next three to four years.

Persons: Noam Shazeer, —, Shazeer, he's, it's, Mustafa Suleyman, Karen Simonyan, Andree Mendoza, Mendoza, Sergey Brin, Zuckerberg, Meta, Altman, Conor Grennan, Grennan, Noam Shazeer isn't Organizations: Google, Service, Nvidia, Wall Street, Business, Microsoft, Carex Consulting, Big Tech, NYU's Stern School of Business, Wall, Apple

☆ China's stock markets are partying like it's 2008, overwhelming systems
▼ + stars: | 2024-09-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

China's stock markets surged this week, marking the best weekly performance since late 2008. AdvertisementChina's stock markets closed sharply higher Friday, notching their best week in 16 years as investors joined the rally party. The stock market party overwhelmed tech systemsThe stock market party got too hot to handle. AdvertisementFurthermore, the US Federal Reserve has started cutting interest rates, which has historically benefited Chinese markets, they added. So even if Beijing's stimulus isn't enough for China's economy, a liquidity or leverage-driven market rally could still be "very powerful," they wrote.

Persons: —, Vishnu Varathan, Hong, Hao Hong, Pan Gongsheng, Data.TS, Freya Beamish, Rory Green Organizations: Service, Grow Investment, Shanghai Stock Exchange, of America, Bank of America, US Federal Reserve, People's Bank of China Locations: China, Beijing, Asia, Japan, Shanghai, India

☆ U.S. crude oil heads for weekly loss as Saudi supplies look set to return
▼ + stars: | 2024-09-27 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil on Friday was on pace for its first weekly loss in three weeks, as the prospect of growing oil supplies from Saudi Arabia overshadowed China's efforts to stimulate its economy. The U.S. benchmark West Texas Intermediate is down nearly 6% this week, while global benchmark Brent has pulled back nearly 4%. OPEC+ recently postponed planned output hikes from October to December, but analysts have speculated that the group might delay the hikes again because oil prices are so low. The oil selloff erased gains from earlier in the week after China unveiled a new round of economic stimulus measures. Soft demand in China has been weighing on the oil market for months.

Persons: there's, Dan Yergin, CNBC's, There's, Yergin Organizations: Texas, Brent, P Global, Oil Locations: Saudi Arabia, U.S, Israel, Lebanon, OPEC, China

☆ An author is facing backlash for using AI to write 120 books. He says he's misunderstood.
▼ + stars: | 2024-09-27 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Tim Boucher has written over 120 books using AI-generated text and images. "My books allow AI models to speak for themselves, almost like the idea of an unreliable narrator in literature," he told Business Insider. AdvertisementCreative differencesTensions between AI companies and the creative industries have been bubbling since the release of AI image generators such as Midjounrey and the rise of AI-powered chatbots such as ChatGPT. AI companies, including OpenAI, are facing several similar lawsuits from groups of authors and artists. He said he thought the lawsuits would put a lot of pressure on how AI companies use licensed data, which he described as a "good thing."

Persons: Tim Boucher, —, he's, chatbots, Claude, ChatGPT, Boucher, Michael Chabon, Elon Musk's, Chabon Organizations: Service, Meta, Wild West

☆ 'Monsters' co-creator Ryan Murphy calls backlash from the Menendezes 'predictable at best.' It's not the first time he's upset families at the center of his true crime shows.
▼ + stars: | 2024-09-27 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +6 min

Lyle Menendez and Erik Menendez killed their parents in 1989, but they have the support of family members. The first season of "Monster" was about Jeffrey Dahmer, and angered his victims' families. AdvertisementOnce again, Netflix's "Monsters" has angered the families at the center of the true crime show, but co-creator Ryan Murphy is standing firm. Lyle Menendez and Erik Menendez admitted to killing their parents during their first trial in 1993, arguing they acted in self-defense after years of abuse. Still, "Monster: The Jeffrey Dahmer Story" was nominated for 13 Emmys, and Netflix has already renewed the anthology for a third season.

Persons: Lyle Menendez, Erik Menendez, Ryan Murphy, Jeffrey Dahmer, —, Lyle, Menendez, Erik Menendez's, Tammi Menendez, Murphy, Dominick Dunne, Joan VanderMolen, o7KEOEoYwr — Tammi Menendez, Dunne, Ian Brennan, Steve Granitz, It's, Kim Kardashian, Cooper Koch, Evan Peters, Dahmer, Netflix Dahmer, Rita Isbell, Errol Lindsey, Netflix should've, Tatiana Banks, Lindsey's, show's, haven't, Thomas M, Jacobson, " Jacobson Organizations: Service, Netflix, Hollywood

☆ The stock market's euphoria-driven record highs are at risk of a painful downturn, 'Black Swan' investor says
▼ + stars: | 2024-09-27 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Spitznagel thinks they should focus instead on lagging drivers that could spur a sharp stock downturn. Advertisement"Black Swan" investor Mark Spitznagel thinks that the stock market's streak of record highs is distracting from a more jarring reality that could come by year-end. In a recent interview with Bloomberg TV, he said investors are currently enjoying a market that's in a "Goldilocks zone." "When the yield curve disinverts and then unverts, the clock starts ticking and that's when you enter black swan territory," Spitznagel told Bloomberg. He has warned of a stock market crash since January 2023, and back in July, he said the market's yearslong rally has become the "greatest bubble in human history," and its bursting would make for a recession.

Persons: Stocks, they've, Mark Spitznagel, Spitznagel, —, That's, capitalizes Organizations: Service, Bloomberg TV, Bloomberg, Universa Investments

A bulldozer moves coal that will be burned to generate electricity at the American Electric Power coal-fired power plant in Winfield, West Virginia. The U.S. currently maintains the largest nuclear fleet in the world with 94 operational reactors totaling about 100 gigawatts of power. The U.S. needs to add 200 gigawatts of nuclear, Goff told CNBC in an interview. "A lot of the data centers are coming in and saying they do need firm, 24/7, baseload clean electricity," Goff said. But restarting reactors in the U.S. will only provide a small fraction of the nuclear power that is needed, he said.

Persons: Mike Goff, Goff, Goldman Sachs Organizations: American Electric Power, of Nuclear Energy, Department of Energy, U.S, CNBC, Bank of America, Constellation Energy, Microsoft Locations: Winfield , West Virginia, U.S, New York City

☆ Hilary Swank says she's glad she waited until her late 40s to have kids. It made her a more present mom.
▼ + stars: | 2024-09-27 | by ( Kim Schewitz | Julia Pugachevsky | ) www.businessinsider.com time to read: +3 min

In a recent interview, Swank, 50, said she's happy she's an older mom. She has more time for her kids and is more comfortable with herself than she was in her 20s and 30s. AdvertisementIn 2022, Hilary Swank announced she was pregnant with twins at age 48, sparking conversations around the risks of pregnancy after age 35. Now, a few years into being a mother, Swank, 50, said that she's glad she had kids in her 40s. "It makes me really empathize with all the parents out there who are working really long hours who don't get to see their children."

Persons: Hilary Swank, Swank, — Organizations: Service

☆ Israel went after Hezbollah's leader in a powerful strike on its headquarters. His fate is still unknown.
▼ + stars: | 2024-09-27 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Israel said Friday that it carried out a strike against Hezbollah's headquarters in Beirut. Israel has increasingly targeted top Hezbollah officials and operatives over the past week, but killing its leadership would be a significant and dramatic escalation. Rear Adm. Daniel Hagari, a spokesperson for the Israeli military, said that the headquarters struck Friday was located underneath residential buildings in Dahieh, a Beirut suburb. AdvertisementIsrael has not publicly acknowledged that it specifically targeted Nasrallah, nor has it commented on his status. Hours after the earlier strikes against Hezbollah's headquarters, the Israeli military said that it was carrying out additional strikes on Hezbollah weapons storage facilities in Beirut.

Persons: Israel, Hassan Nasrallah, —, Hezbollah's, Nasrallah, Daniel Hagari, Defense Lloyd Austin Organizations: Hezbollah's, Service, CNN, Reuters, Pentagon, Defense, Israel, IAF, Hezbollah Locations: Beirut, Iran, Israel, Dahieh, Lebanon

☆ Netflix's stunning comeback — explained in one chart
▼ + stars: | 2024-09-27 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

AdvertisementWho's going to win the streaming wars? Its would-be competitors are nowhere close. It no longer had the market to itself, and its flaws could no longer be covered up by go-go growth. AdvertisementThe best way to show how the streaming wars have worked out is via this chart: It shows you that Netflix stock is soaring. (We also threw Fox on this chart, even though the company has mostly stayed out of the streaming wars, though Tubi, its free service, is starting to gain momentum.)

Persons: —, fickleness Organizations: Netflix, Service, Disney, Comcast, Warner Bros Discovery, Paramount, Fox

☆ These are September’s top-performing S&P 500 stocks. Where analysts see them going next
▼ + stars: | 2024-09-27 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Most analysts think that September's top-performing stocks could continue their ascent. September is a traditionally dicey for stocks: It's the worst month of the year for the S & P 500 , according to the Stock Trader's Almanac . With October right around the corner, CNBC Pro used FactSet data to screen for this month's top-performing stocks in the S & P 500 and find out where analysts see them going next. Constellation Energy is up more than 30% on the month, making it September's second-highest performer in the S & P 500. Power company Vistra has surged nearly 196% in 2024, and it's the top performer in the S & P 500 this month.

Persons: Morgan Stanley, David Arcaro, Vistra, Jefferies, Julien Dumoulin, Smith, Raymond James, Brian Gesuale Organizations: Federal, Dow Jones, CNBC Pro, Analysts, Constellation Energy, Microsoft, Constellation, Energy, Software, Palantir Technologies, Oracle, Delta Air Lines Locations: Thursday's

☆ Here are Friday's biggest analyst calls: Apple, Dell, Wynn, Walmart, Best Buy, Costco, Netflix & more
▼ + stars: | 2024-09-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Piper Sandler upgrades Accenture to overweight from equal weight Piper upgraded the IT company following its earnings report. Goldman Sachs reiterates Costco as buy Goldman says it's sticking with the stock following earnings on Thursday. Citi downgrades Dollar General to sell from neutral Citi says it sees too many competitive challenges. JPMorgan adds Best Buy to the focus list JPMorgan says it sees an "improving product cycle" for Best Buy. Bank of America downgrades HP to neutral from buy The firm says it sees slowing earnings per share growth.

Persons: Morgan Stanley, Wynn, Piper Sandler, Piper, Goldman Sachs, Goldman, it's bullish, it's, Raymond James, Mercado, Roth MKM, Roth, Cantor Fitzgerald Organizations: Wynn Resorts, Deutsche Bank reinstates Dell, Deutsche, DELL, NASDAQ, Costco, " Bank of America, Apple, Bank of America, Apple Intelligence, UBS, Vista Energy, Citi, Pepsi Citi, Catalyst, Walmart, Cava, Mercado Libre, JPMorgan, Chesapeake Energy, Barclays, Netflix, HP Locations: UAE, Macau, BMBL, CAVA, HPQ

☆ Using options to trade an index that's become a swing trader's dream
▼ + stars: | 2024-09-27 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

Although it is very volatile and exhibits wild swings, in the 1-year daily chart shown below, it becomes evident how confined its movement is within a well-defined trading range. Whenever it breaches one of these levels, it quickly stabilizes in a new trading range. Based on this analysis, I am considering a bearish set-up while keeping the top of its current trading range in mind. The trade Given the bearish outlook, I'm using a call credit spread as my trade structure. If the index stays below $2,260 by the expiration date, the trade will yield an ROI of 42% on the capital risked.

Persons: Russell, Nishant Pant Organizations: CNBC, NBC UNIVERSAL

☆ WeightWatchers' CEO embraced Ozempic. Now she's out of the company.
▼ + stars: | 2024-09-27 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

WeightWatchers' CEO of roughly two years, Sima Sistani, is out. AdvertisementIt's been a bumpy year for WW International, the company also known as WeightWatchers. In a leadership shake-up Friday, the weight-loss company announced CEO Sima Sistani is stepping down after roughly two years — effective immediately — and board member Tara Comonte is stepping up to serve as interim chief. Sistani helped push the company into the weight-loss drug space in 2023 through the $106 million acquisition of telehealth platform Sequence — which is now called WeightWatchers Clinic, and which prescribes weight-loss drugs like Ozempic and Wegovy. The telehealth purchase marked something of a pivot from the group support meetings and calorie-tracking menus WeightWatchers is known for, though the company also launched a behavioral program for patients on Ozempic.

Persons: WeightWatchers, Sima Sistani, —, It's, Tara Comonte, Sima, Thilo Semmelbauer, Sistani, haven't, Comonte, Oprah Winfrey Organizations: Service, WW International, WeightWatchers, WeightWatchers Clinic, CNN, Life Sciences, Shake, Business, Smithsonian's National Museum of

☆ A European leader's top aide suggested his country wouldn't have resisted if Russia had invaded it
▼ + stars: | 2024-09-27 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

An aide to the Hungarian PM was criticized after suggesting Hungary wouldn't have resisted a Russian invasion. He referred back to a 1956 uprising in Budapest, which the Soviet Union brutally repressed. He said it was "irresponsible" to resist, citing the number of dead in the Ukraine war. He said this was because Hungary had tried and failed to resist the Soviet Union in 1956. Viktor Orbán is Russian President Vladimir Putin's closest ally in the European Union, a position that has put him strongly out of favor in the bloc.

Persons: Hungary wouldn't, —, Viktor Orbán, Balázs Orbán, Zelenskyy, Hungary —, Vladimir Putin's, Donald Trump, Putin, Trump Organizations: PM, Soviet Union, Service, Politico, European Union, Fidesz Locations: Hungary, Russian, Budapest, Ukraine, Hungarian, Soviet Union, Russia

☆ Elon Musk's X will be allowed back online in Brazil after paying one more fine
▼ + stars: | 2024-09-27 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

The Federal Supreme Court (STF) in Brazil suspends Elon Musk's social network after it fails to comply with orders from Minister Alexandre de Moraes to block accounts of those being investigated by the Brazilian justice system. X has to pay one last fine before the social network owned by Elon Musk is allowed back online in Brazil, according to a decision out Friday from the country's top justice, Alexandre de Moraes. Earlier this month, X filed paperwork informing Brazil's supreme court that it is now in compliance with orders, which it previously defied. X's legal representative in Brazil, Rachel de Oliveira, is also required to pay a fine of 300,000 reals. Earlier this month, the STF froze the business assets of Musk companies, including both X and satellite internet business Starlink, operating in Brazil.

Persons: Alexandre de Moraes, Elon Musk, Brazil's, Rachel de Oliveira, de Moraes, Musk, X, STF Organizations: Federal Supreme Court, Elon, Globo, Tribunal Federal, SpaceX Locations: Brazil, Brazilian

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