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☆ French protests add to Macron's political gamble as election race heats up
▼ + stars: | 2024-06-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Matthieu Delaty | Afp | Getty ImagesFrance's election campaign kicked off in earnest Monday following a weekend of violent nationwide protests against the far-right National Rally, or RN, whose record European Parliament gains sparked the snap vote. Protesters gather during an anti far-right rally after French president called legislative elections following far-right parties' significant gains in European Parliament elections, in Paris on June 15, 2024. More likely, however, is a "messy" hung parliament, he said — part of Macron's gamble to discredit RN's legitimacy ahead of the 2027 presidential elections. French stocks gained on Monday, with Goldman Sachs' senior European strategist Sharon Bell saying that the sell-off may have been premature. Protesters gather during an anti-far-right rally after French President Emmanuel Macron called legislative elections following far-right parties' significant gains in European Parliament elections in Paris on June 15, 2024.

Persons: Matthieu Delaty, Jordan Bardella, France's Le, Lou Benoist, Emmanuel Macron's, Mujtaba Rahman, Mujtaba, Goldman Sachs, Sharon Bell, Bell, CNBC's, Emmanuel Macron Organizations: National Rally, Afp, Getty, France's Le Monde, CGT, CNBC, Union, Eurasia, CAC, Generale, Protesters Locations: Lyon, France, Paris, Europe

☆ Euro 2024: Romania stuns Ukraine 3-0 in its opening group stage match
▼ + stars: | 2024-06-17 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

CNN —Ukraine suffered a disastrous start to its Euro 2024 campaign, losing 3-0 to Romania in its opening match in Group E on Monday. Damaged seats from a stadium in Kharkiv, Ukraine, are seen in an installation set up on June 17, 2024 in Munich, Germany. Tobias Schwarz/AFP/Getty ImagesThe UAF said the stadium, used to co-host Euro 2012, had been destroyed by Russian troops in May 2022. The stand will go on a tour of Germany, following the Ukrainian team throughout its group stage matches. Ukraine’s players looked sheepish as they trudged of the pitch at full-time, but will have the chance to kick-start their Euro 2024 campaign against Slovakia on Friday.

Persons: Nicolae Stanciu, Răzvan Marin, Denis Drăguș, Marin, Andriy Lunin, Romania's Nicolae Stanciu, Matthias Schrader, Tobias Schwarz Organizations: CNN, Ukrainian Football Association, Getty, Slovakia Locations: Ukraine, Romania, Russia, Munich, Germany, Kharkiv, Ukrainian

☆ Apple appears to be laying the groundwork for a new money-making iPhone feature
▼ + stars: | 2024-06-17 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Apple's new iOS 18 will make iPhone 14 and later models less reliant on wi-fi or cell connectivity. The company is expanding an emergency satellite messaging feature first introduced with iPhone 14. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSeveral of Apple's iOS 18 software features will make iPhone 14 and later models less reliant on wi-fi or cellular connectivity — and could potentially even make the company less reliant on iPhone sales. The company is expanding an emergency messaging feature, first introduced with iPhone 14, which enabled devices to contact first responders via satellite.

Persons: — Organizations: Apple, Service, Business

☆ What’s next for the stock market? Here’s one thing you could do if shares start sinking
▼ + stars: | 2024-06-17 | by ( Krystal Hur | ) edition.cnn.com time to read: +8 min

The market has been on a tear in 2024, driven higher by robust corporate earnings and the artificial intelligence boom. Traders expect the Fed to begin easing rates in September at the earliest, according to the CME FedWatch Tool. If inflation is cooling down but the Fed is still expected to keep its key lending rate higher for longer, what does that mean for the stock market? The data will tell us that, but I think the big takeaway for us is [inflation] going in the right direction. Do you expect some of the cash that’s on the sidelines to enter the stock market?

Persons: Price, Wall, Bell, Jack Janasiewicz, Jerome, Powell, we’re, it’s, wouldn’t, you’re, Hilary Whiteman, Read, Sam Altman, Steve Wozniak, OpenAI, Altman, Samantha Murphy Kelly, Tim Cook, ”, Ben Wood, “ Apple, Siri Organizations: CNN Business, Bell, New York CNN, Federal, Nasdaq, Fed, Traders, Solutions, You’re, Apple, Insight, CNN, Apple Intelligence Locations: New York, United States, West Coast, Hawaii, California, San Jose , Los Angeles, San Francisco, San Diego, Honolulu, Australia, Sydney, Melbourne, Victoria, Adelaide, South Australia

☆ Certain Macron's party will not win French election, professor says
▼ + stars: | 2024-06-17 | 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 EmailCertain Macron's party will not win French election, professor saysChristian Lequesne, professor of political science at Sciences Po, discusses current divisions in French society and the government's likely political cohabitation after the election.

Persons: Christian Lequesne Organizations: Sciences Po

"Consumers need to understand that the cavalry isn't coming anytime soon, so the best thing you can do is take things into your own hands when it comes to lowering credit card interest rates," said Matt Schulz, chief credit analyst at LendingTree. But that hasn't deterred credit card issuers from offering generous terms on balance transfer cards, Rossman said. But right now, it's kind of a Goldilocks environment for credit card issuers." It's also an ideal time for consumers to take advantage of all the options credit card issuers are offering. A balance transfer credit card moves your outstanding debt from one or more credit cards onto a new card, typically with a lower interest rate.

Persons: Matt Schulz, Michele Raneri, APRs aren't, Schulz, Ted Rossman, Rossman, It's Organizations: Federal Reserve, TransUnion, CNBC, Finance, Treasury Department, Federal Reserve Bank of New Locations: U.S, Federal Reserve Bank of New York

☆ Kate Middleton's reappearance could save the royal family
▼ + stars: | 2024-06-17 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +5 min

Read previewKate Middleton attended King Charles III's birthday parade this weekend — her first royal engagement since she announced her cancer diagnosis in March. The princess's tentative return to royal duties comes after a difficult period for the royal family, which included the "Katespiracy" theories and the slimmed-down monarchy seemingly threatening the family's future. The royal family at King Charles III's birthday parade. The royal family carried out a collective 4,000 engagements in 2014, including Prince Harry's trip to Brazil and the Queen and the Duke of Edinburgh's engagements in France and Italy. "The royal family has a strange position in our society, where everyone, to an extent, feels like it's an extension of our own families."

Persons: —, Kate Middleton, King Charles III's, Kate, Jenny Packham, Prince William, King Charles , Queen Camilla, Richard Fitzwilliams, Chris Jackson, Charles, Fitzwilliams, Catherine, Phil Dampier, who's, Prince Harry's, Duke, Jack Royston, Kate's, Royston, She's, Robert Hardman, Charles III, Hardman, Buckingham Organizations: Service, Business, Royal, Guardian, New Locations: Buckingham, Brazil, France, Italy, Kensington

☆ Israel warns of 'devastating consequences' as spike in fire with Lebanon risks wider conflict
▼ + stars: | 2024-06-17 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

Smoke and flame rise after Hezbollah carried out a missile attack on Safed city, northern Israel on June 12, 2024. Over the past week, Lebanese militant group Hezbollah has ramped up hostilities and cross-border missile attacks against targets in northern Israel, according to Israel Defense Forces and the Hezbollah-aligned al-Manar news outlet. It comes amid a ramp-up in attacks by Hezbollah in recent weeks following repeat offensives against its neighbor since October. "Hezbollah's increasing aggression is bringing us to the brink of what could be a wider escalation, one that could have devastating consequences for Lebanon and the entire region," Hagari added. "Israel will take the necessary measures to protect its civilians, until security along our border with Lebanon is restored.

Persons: Sami Taleb Abdullah, Taleb Abdullah, Israel, Daniel Hagari, Hagari, HoweveHezbollah, Sheikh Naim Qassem, Amos Hochstein, Joe Biden, Biden, Houthi —, Iran —, Yahya Sare'e Organizations: Hezbollah, Israel Defense Forces, Hamas, IDF, CNBC, Lebanese, Washington, U.S, NBC News Locations: Safed, Israel, Lebanon, Iran, Tehran, Gaza, Lebanese, Jouaiyya, Red

☆ ‘Wheatfield’: Agnes Denes has reimagined her landmark artwork
▼ + stars: | 2024-06-17 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +10 min

Out west, Denes hopes to plant seeds of community with the help of the project’s host, Tinworks, an arts organization in the rapidly developing city of Bozeman. “Wheat is wonderful — it sustains humanity and is probably the most planted food next to rice. Jenny Moore/TinworksSome 200 packets of wheat were also distributed among Bozeman residents to grow concurrently with Denes' field. “Can you imagine if I could have realized 20 or 30?”Sowing seeds for changeAs with “Wheatfield,” seeds have often served as potent symbols for Denes. Courtesy Agnes Denes/Leslie Tonkonow Artworks + ProjectsWith “Wheatfield – An Inspiration,” like with all her work, Denes strives for nuance and to engender change through visitors and participants who take something meaningful from the work.

Persons: Agnes Denes, —, CNN —, Denes, Bozeman . Wheat, ” Denes, ”, Blair, Jenny Moore, Tinworks, Kenny Van Dyke, “, ” Moore, Agnes, Moore, I’d, it’s, Leslie Tonkonow, … Organizations: CNN, Art Basel, Bozeman ., Bozeman, Tinworks, Montana, “ Locations: Lower Manhattan, Montana, Wheatfield, Budapest, New York, Battery Park City, Milan, Switzerland, Bozeman, Montana State, Ylojarvi, Finland, ”, Sullivan County , New York, Lewiston, Niagara, Long Island , New York, Kassel, Germany, Istanbul, Egypt, Queens , New York, “ Wheatfield

☆ Oil prices inch down on weaker U.S. consumer demand ahead of China data
▼ + stars: | 2024-06-17 | by ( ) www.cnbc.com time to read: +1 min

Oil prices slipped in early Asian trading on Monday after a survey on Friday showed weaker U.S. consumer demand and as traders awaited the release of key economic data from China, the world's biggest crude importer. That followed prices slipping on Friday after a survey showed U.S. consumer sentiment fell to a seven-month low in June, with households worried about their personal finances and inflation. Economic data from China on Monday will set the tone for commodity markets this week, ANZ analysts said in a note. Producer and consumer data last week showed the country is still grappling with deflation. Markets in key oil trading hub Singapore and other countries in the region were closed for a public holiday on Monday.

Organizations: Global, Brent, . West Texas, ANZ Locations: Houston, Houston , Texas, China, Singapore

☆ Putin Is to Visit North Korea, a Sign of Deepening Military Ties
▼ + stars: | 2024-06-17 | by ( Choe Sang-Hun | ) www.nytimes.com time to read: +1 min

President Vladimir V. Putin of Russia will visit North Korea this week for a meeting with its leader, Kim Jong-un, their second in nine months, as the two countries deepen military ties to support Mr. Putin’s war in Ukraine with North Korean weapons. Mr. Putin last visited North Korea in 2000, when he became the first Russian or Soviet leader to visit the nation. Mr. Kim met with Mr. Putin in Russia’s Far East last September, ushering in a new era of relations between the two countries. For Mr. Kim, it was a rare moment of his country, a pariah in the West, being sought after as an ally. For Russia, it’s a strengthening of ties with a country that is providing it with much-needed munitions for its war in Ukraine.

Persons: Vladimir V, Putin, Kim Jong, Kim Organizations: Mr Locations: Russia, North Korea, Ukraine, North, Russian, Russia’s Far, West

"House of the Dragon" finally returned on Sunday night, two years after season one aired on HBO and became a smash hit. Rhaenyra, in mourning, needs to see her dead son for herselfRhaenyra discovers the remains of Arrax, her son Lucerys' dragon, in the season two premiere of "House of the Dragon." Daemon makes an oopsieDaemon (Matt Smith) and Rhaenyra (Emma D'Arcy) in "House of the Dragon" season 2. Back in King's Landing, the assassins that Daemon sent after Aemond close inEwan Mitchell as Aemond Targaryen in "House of the Dragon" season two. Olivia Cooke as Alicent in season two of "House of the Dragon."

Persons: —, Alicent Hightower, Aegon II, Rhaenyra Targaryen, Alicent's, Aemond, Rhaenyra's, Lucerys Velaryon, Eammon Jacobs, Palmer Haasch, Caralynn, Palmer, …, Cregan Stark, Ollie Upton, Stark, Jace, Vhagar, Daemon Daemon, Theo Whitman, Daemon, she's, Corlys, Tom Glynn, Carney, Helaena, Alicole, … Palmer, Rhaenyra, Arrax, Lucerys, Theo Whiteman, Emma D'Arcy, Milly Alcock —, Emma, Luke, Syrax, Otto, Larys, Michael, Aegon's, Hugh, Alicent, Sonoya Mizuno, maven, Whistleworm, I'm, Matt Smith, Jace —, he's, Jacaerys, it's, Ramin, Daemon Targaryen, Ewan Mitchell, it's Helaena, It's, Olivia Cooke, Cole, wasn't Criston, Jaime, Cersei, Bran Organizations: Service, HBO, Greens, Aegon, Blacks, Business, Alpha Beta Locations: Alicole, Farmville, Lucerys, Alicent

☆ A Bird-Flu Pandemic in People? Here’s What It Might Look Like.
▼ + stars: | 2024-06-17 | by ( Apoorva Mandavilli | ) www.nytimes.com time to read: 1 min

The bird flu outbreak in dairy cattle has so far spilled over to just three farmworkers in the United States, as far as public health authorities know. But that does not guarantee that the virus, called H5N1, will remain benign if it begins to spread among people. Accumulating evidence from the animal world and data from other parts of the globe, in fact, suggest the opposite. Infected cats went blind, walking in circles; two-thirds of them died. “I definitely don’t think there is room for complacency here,” said Anice Lowen, a virologist at Emory University.

Persons: “, ”, Anice Lowen Organizations: Emory University Locations: United States

☆ Biden campaign slams Trump as ‘convicted criminal’ in first ad seizing on former president’s legal woes
▼ + stars: | 2024-06-17 | by ( Arlette Saenz | Sam Fossum | ) edition.cnn.com time to read: +3 min

“In the courtroom we see Donald Trump for who he is. “And a president who is fighting for your family.”For months, Biden and his team refrained from using Trump’s legal woes in their arguments against him. The campaign has leaned into using the verdict as further evidence the former president is unfit for office and has branded him a “convicted felon” in statements. “For the first time in American history, a former president is convicted – a convicted felon. The ad push comes 10 days before Biden and Trump will appear on the debate stage at a CNN studio in Atlanta for the first in-person showdown of the 2024 campaign.

Persons: CNN —, Biden, ”, “, Donald Trump’s, Joe Biden’s, Trump, Donald Trump, He’s, –, ” Biden, Barack Obama, “ Trump, Michael Tyler Organizations: CNN, Biden Locations: Manhattan, New York, Connecticut, Los Angeles, Atlanta

☆ Black Farmers in Georgia Cool to Biden, Reflecting a Bigger Challenge
▼ + stars: | 2024-06-17 | by ( Alan Rappeport | Marilyne Moja Mwangi | ) www.nytimes.com time to read: +1 min

On a hot day in May, Andrew L. Smith Sr., a vegetable farmer from Ludowici, Ga., listened with skepticism as Tom Vilsack, the U.S. agriculture secretary, touted President Biden’s efforts to help Black farmers overcome decades of discrimination. Seated alongside hundreds of farmers in front of a former plantation once owned by a Georgia slaveholder, Mr. Smith, 62, wondered why he had not benefited from any of those programs, including one aimed at helping Black farmers clear their debts. Mr. Smith, a third-generation farmer, said he was especially frustrated that he is not eligible for another effort that will compensate farmers who have faced discrimination. “We march on using what we got and then they tell us that you can’t even use that,” he said. Mr. Smith voted for Mr. Biden in 2020.

Persons: Andrew L, Smith, Tom Vilsack, Biden’s, ”, Biden, Donald J, Trump Organizations: Mr Locations: Ludowici, U.S, Georgia

☆ Forget Elon Musk’s record pay package from Tesla. More could be on the way.
▼ + stars: | 2024-06-17 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Tesla shareholders on Thursday confirmed they want Elon Musk to get a massive record pay package for running Tesla for the last six years. “The chancellor found a number of defects in the process.”But Tesla shareholders also approved moving Tesla’s state of incorporation to Texas, partly in reaction to the Delaware decision. “What we recognized in 2018 and continue to recognize today is that one thing Elon most certainly does not have is unlimited time,” Tesla board chair Robyn Denholm wrote to Tesla shareholders ahead of the most recent vote. Ark Invest has a five-year target price for Tesla shares at $2,600 a share. Not everyone on that list got there through packages of stock options.

Persons: Elon Musk, Tesla, Chancellor Kathaleen McCormick, Musk, It’s, “ It’s, Samantha Crispin, Baker Botts, “, ” Musk, McCormick’s, Elon, ” Tesla, Robyn Denholm, ”, Tasha Keeney, ” Elon Musk, Jeff Bezos, Bernard Arnault, Mark Zuckerberg, Larry Page, Bill Gates —, Zuckerberg, McCormick Organizations: New, New York CNN, CNN, Tesla, ARK Invest, Elon, Invest, Microsoft, Apple, SpaceX, Amazon, Facebook Locations: New York, Delaware, Texas, “, Tesla

☆ I was promoted to VP at Amazon despite doing a poor job managing my career. I wish I had used these 7 strategies sooner.
▼ + stars: | 2024-06-17 | by ( Ethan Evans | ) www.businessinsider.com time to read: +7 min

Read previewI made it to vice president at Amazon after eight years at the company despite doing a poor job managing my career. My advancement came from hard work and luck, but I had no real plan. Here are seven career-advancing strategies I now know and wish I had used sooner to actively manage my career. To rise in your career, you'll need to be good at navigating intricate schedules, cross-team dependencies, and other challenges of scale. When I speak to my clients, they often work hard and hope for a promotion, but hope is not a strategy.

Persons: —, aren't, they'll, you'll, Ethan Evans Organizations: Service, Amazon, Business

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy car payments are so high right nowCar payments have skyrocketed in recent years - a result of a mix of high interest rates and high prices. But larger structural factors are too. For years customers have been clamoring for fancier cars, and automakers have raked in the profits. In the short term, rising incentives and falling prices may provide some relief. But insiders wonder what the car market will look like over the next decade.

☆ Joe Biden is spending $50 million to remind you Donald Trump is a convicted felon
▼ + stars: | 2024-06-17 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +1 min

Biden doesn't want swing voters to forget Donald Trump is a convicted felon. The Biden campaign is spending $50 million on a media blitz that includes a biting attack ad on Trump. The ad highlights Trump's conviction while painting Biden as "fighting for your family." AdvertisementJoe Biden isn't wasting any time using Donald Trump's felony conviction to his advantage — and he's spending big bucks to do it. The Biden campaign announced on Monday that it's shelling out $50 million for an advertising blitz against Trump, including a TV ad that will begin running in all battleground states.

Persons: Biden, Donald Trump, —, Joe Biden, Donald Trump's Organizations: Trump, Service, Biden, Business

☆ What Weapons Has North Korea Already Supplied to Russia?
▼ + stars: | 2024-06-17 | by ( Lara Jakes | More About Lara Jakes | ) www.nytimes.com time to read: +1 min

As the war has dragged on, Russia has found itself in dire need of conventional weapons, including artillery shells, that North Korea could supply. The United States first accused North Korea of selling artillery to Russia as far back as September 2022, seven months after the war started. At the time, North Korea denied the accusations. Just weeks later, U.S. officials said that North Korea had shipped more than 1,000 containers of arms to Russia for use in the war in Ukraine. By March, officials said, North Korea had sent close to 7,000 containers of weapons to Russia.

Persons: Vladimir V, Putin, Mr, Kim Jong, Kim Organizations: Ukraine, United, House, North Korean Locations: Russia, North Korea, Korea, United States, Ukraine

☆ Athlete marketing is booming with the evolution of NIL and creating new career paths
▼ + stars: | 2024-06-17 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +6 min

NIL has created career paths for college athletes and brand-deal managers. NIL has also created career paths for college athletes, some of whom are building businesses as influencers and content creators or getting jobs in social media and marketing rather than going pro. It's important for schools that want to be involved in NIL deals to engage in sports marketing and sourcing deals for athletes, he added. Connor Printz, a former Division III basketball player at Claremont McKenna College, has landed over 100 NIL deals. It's not just student-athletes who are benefitingNIL isn't creating more career opportunities only for college athletes.

Persons: —, Caitlin Clark, Clark, Bronny James, Olivia Dunne —, Garrett Yaralian, influencers Dunne, she's, Dunne, Yaralian, TikTok, Sam Hurley, Hurley, Connor Printz, Chase Griffin, Griffin, It's, Drew Glover Organizations: Service, WNBA, Nike, Wall Street, NCAA Division, State, NCAA, —, University of Southern California, Louisiana State University, WME Sports, Brands, University of Texas, Fund, Division III, Claremont McKenna College, University of California, Sports, Texas, OneTeam Partners, University of Georgia Athletic Association, . Venture, Fiat Ventures Locations: Instagram, Austin, Los Angeles

☆ Disney is rallying after a big box office win — here's when we'd buy more shares
▼ + stars: | 2024-06-17 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. After closing at a record Thursday, the S & P 500 lost just 0.04% in Friday's session. The divergence between tech and many other sectors in the S & P 500 is apparent in the S & P Short Range Oscillator, our trusted momentum indicator that we use to take the pulse of the market. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jeff Marks, Marks, Disney's, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Dow Jones, Broadcom, Disney, Marvel Locations: China

☆ 21 transgender and nonbinary celebrities who are changing television
▼ + stars: | 2024-06-17 | by ( Gabbi Shaw | Frank Olito | ) www.businessinsider.com time to read: +1 min

Michaela Jaé Rodriguez is known for her work on "Pose" and became the first transgender person to win a Golden Globe in 2022. Jordan Strauss/APBefore landing her role in "Pose," Rodriguez appeared on TV in shows like "Nurse Jackie" and "The Carrie Diaries." After three seasons, Rodriguez was finally nominated for an Emmy in May 2021 for her role in "Pose," making history. And in January 2022, Rodriguez made history again by becoming the first transgender person to win a Golden Globe. "This is the door that is going to Open the door for many more young talented individuals," Rodriguez wrote on Instagram.

Persons: Michaela Jaé Rodriguez, Mj Rodriguez, Jordan Strauss, Rodriguez, Jackie, Blanca Rodriguez, Maya Rudolph, Adam Scott, Joel Kim Booster Organizations: Globe, Black Latina, Netflix, Apple Locations: Black, Newark New Jersey

Morgan Stanley lowered its price target on Nike. Meanwhile, UBS upgraded Best Buy to buy from neutral. — Brian Evans 6:45 a.m.: UBS upgrades Newmont UBS thinks rising gold prices into 2025 can help lift Newmont Corporation moving forward. — Brian Evans 6 a.m.: UBS upgrades Best Buy, forecasts outperformance ahead UBS thinks a potential forthcoming appliance upgrade cycle as well as new product offerings could lift Best Buy stock. The bank reiterated its overweight rating on shares but trimmed its price target to $114 from $116.

Persons: Morgan Stanley, Goldman Sachs, Toll, Susan Maklari, — Brian Evans, Daniel Major, Major, Michael Lasser, Lasser, BBY, Alex Straton, Fred Imbert Organizations: CNBC, Nike, UBS, Newmont, Dow Jones

☆ Hyundai: India’s biggest IPO could come from South Korean car manufacturer
▼ + stars: | 2024-06-17 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

The world’s biggest car market after China and the United States is the company’s third-biggest revenue generator globally. Hyundai India also said it wants to ship more cars, “strengthening” its position as an export hub. The South Korean parent will sell up to 142 million of the total 812 million shares, or 17.5%, in the IPO. With the IPO, Hyundai aims to unlock value for the Indian business and also help the Korean automaker shed its valuation discount compared to global and Asian peers. Hyundai is being advised on the IPO by investment banks Citi, JP Morgan, HSBC, Morgan Stanley and India’s Kotak.

Persons: Maruti Suzuki, Narendra Modi, JP Morgan, Morgan Stanley, India’s Organizations: Hyundai, Maruti, Tata Motors, Securities and Exchange Board of India, EV, South, Benchmark, Citi, HSBC Locations: India, Mumbai, Korean, China, United States, Hyundai India

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