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☆ Asia shares extend rally as China mood turns less bleak
▼ + stars: | 2023-09-04 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. There was relief that embattled property developer Country Garden won approval from its creditors to extend payments for an onshore private bond. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 1.0%, having climbed 2.3% last week. EUROSTOXX 50 futures added 0.3% and FTSE futures rose 0.4%. Central banks in Canada and Australia hold their own meetings this week and both are expected to hold rates steady.

Persons: Aly, Stocks, Goldman Sachs, Treasuries, Christine Lagarde, Brent firmed, Wayne Cole, Shri Navaratnam Organizations: REUTERS, Federal, Country Garden, Japan's Nikkei, Nasdaq, Holdings, Federal Reserve, European Central Bank, Thomson Locations: Shanghai, Shenzhen, China, U.S, SYDNEY, Beijing, United States, Asia, Pacific, Japan, Canada, Australia, Saudi Arabia

☆ Blackstone's data center gamble
▼ + stars: | 2023-08-28 | by ( Daniel Geiger | Rebecca Ungarino | ) www.businessinsider.com time to read: +12 min

The firm has recently touted its data center investments amid the artificial intelligence boom. Blackstone's push into data centers comes with its own set of challenges and questions. "You might not own apartment buildings in 10 years, but the largest data center company in the world." Meghji said in the company's video that interest from data center users in QTS data centers had doubled "since ChatGPT came out." Gerber said he had recently discussed data center investments with Blackstone representatives and has confidence in the strategy.

Persons: Blackstone, —, Glenn Schorr, Schorr, outflows, Stephen Tuckwood, Tuckwood, Jonathan Gray, Gray, Jeenah, Chad Williams, BREIT, they're, Patrick Davitt, QTS, Nadeem Meghji, Meghji, ChatGPT, Matthew Barakat, Prince William County, redemptions, Selwyn Gerber, Gerber, Matt Malone Organizations: Blackstone, Income Trust, QTS Realty Trust, Evercore, Wealth Management, Reuters, Autonomous Research, Blackstone Infrastructure Partners, McKinsey, AP, Starwood, MSCI's, Los, RVW, Opto Investments, FS Investments Locations: California, BREIT, QTS, Americas, CBRE, Manassas , Virginia, Prince William, Virginia, Brookfield, Los Angeles, Bellagio, Las Vegas

☆ Hedge funds beefed up A.I. bets in the second quarter
▼ + stars: | 2023-08-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

2023 has been the year for artificial intelligence stocks, and hedge funds in the second quarter beefed up their bets on the growth sector despite its sharp run up this year. Doubling down on Big Tech Despite the uptick in tech shares by the end of the first half, many hedge funds amped up their bets on Alphabet during the second quarter. David Tepper's Appaloosa bet big on AI winners , growing positions in Alphabet, Amazon , Meta Platforms and Microsoft during the period. Betting on chip stocks Nvidia shares have popped 200% as the company triumphs as AI chipmaker to beat this year. Beyond these pure-play AI bets, Coleman added to semiconductor Lam Research .

Persons: Bill Ackman's, Dan Loeb's, David Tepper's, Baupost's Seth Klarman, Philippe Laffont's Coatue, Tiger Global's Chase Coleman, Mark Zuckerberg's, Dan Sundheim's, Ole Andreas Halvorsen, Loeb, Coleman, Sundheim, Baupost, Keith Meister's, Laffont, Yun Li, Sarah Min, Brian Evans Organizations: Big Tech, Microsoft, Tiger Cub, Management, Apple, Amazon, Facebook, Meta, Nvidia, Devices, Viking, Taiwan Semiconductor, Micron Technology, AMD, Intel, Qualcomm, Broadcom, Marvell Technology, Materials, Global, Lam Research, Netflix, Viking Global, NXP Semiconductors, Semiconductor Locations: Apple, Amazon

☆ Dollar steady after CPI data bolsters Fed pause bets; yen nears 145
▼ + stars: | 2023-08-11 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. The Japanese yen eased 0.10% to 144.89 per dollar in early Asian hours, its lowest since June 30, when it also briefly breached 145 per dollar level, stoking investor fears of another round of interventions from the Japanese authorities. Japan intervened in September last year when the dollar rose past 145 yen, pushing the pair to around 140 yen as the Ministry of Finance bought the yen to weaken the dollar. "Market pricing currently favours a pause, but the market has underpriced the Fed’s actions before," Brandham cautioned. The Australian dollar rose 0.20% to $0.6534.

Persons: Florence Lo, Ryan Brandham, Brandham, Philip Lowe, Sterling, Ankur Banerjee, Shri Navaratnam Organizations: U.S, REUTERS, Federal, Ministry of Finance, Saxo Markets, Reuters, North America, Validus Risk, Reserve Bank of Australia, Thomson Locations: SINGAPORE, Japan, U.S, Singapore

☆ Phil Mickelson considered betting on Team USA to win the Ryder Cup – and lost $100 million gambling, book says
▼ + stars: | 2023-08-11 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Phil Mickelson racked up $100 million worth of losses gambling, according to a new book by Billy Walters. The golf star also tried to bet $400,000 on Team USA at the 2012 Ryder Cup, Walters wrote. Phil Mickelson has bet over $1 billion over the past three decades, racked up $100 million worth of losses, and once considered placing a wager on Team USA winning the Ryder Cup, according to a new book. Walters adds that in September 2012, Mickelson asked him to place a $400,000 bet on Team USA to win the Ryder Cup – a tournament Mickelson was playing in — but he refused, asking the former World No. Mickleson denied ever betting on the Ryder Cup.

Persons: Phil Mickelson, Billy Walters, Walters, " Mickelson, Mickelson, Mickleson, Phil, " Walters Organizations: USA, Morning, Ryder, Dean Foods, Prosecutors, FBI Locations: —, Europe, what's

☆ Dollar steady after CPI data bolsters Fed pause bets, yen nears 145
▼ + stars: | 2023-08-11 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen and U.S. 100 dollar banknotes are arranged for a photograph in Tokyo, Japan, on Sept. 7, 2017. The Japanese yen eased 0.10% to 144.89 per dollar in early Asian hours, its lowest since June 30, when it also briefly breached 145 per dollar level, stoking investor fears of another round of interventions from the Japanese authorities. Japan intervened in September last year when the dollar rose past 145 yen, pushing the pair to around 140 yen as the Ministry of Finance bought the yen to weaken the dollar. The Australian dollar rose 0.20% to $0.6534. Sterling was last at $1.2684, up 0.07% on the day, looking to snap its three-day losing streak ahead of GDP data.

Persons: Ryan Brandham, Brandham, Philip Lowe, Sterling Organizations: Federal, Ministry of Finance, Saxo Markets, Reuters, North America, Validus Risk, Reserve Bank of Australia Locations: Tokyo, Japan, U.S

CNN —Phil Mickelson considered a $400,000 bet on the 2012 Ryder Cup – in which he was participating – according to a book that will be released later this month by professional gambler Billy Walters. “The only other person I know who surpassed that kind of volume,” Walters wrote, “is me.”In a Thursday post on X, formerly known as Twitter, Mickelson denied betting on the 2012 Ryder Cup. Walters wrote he doesn’t know if Mickelson ever placed that bet. Walters suggested in the book, according to Golf Digest, that Mickelson was to blame for the prison sentence. The superstar came under fire last year over his involvement in the controversial LIV Golf, the world’s most lucrative golf tour.

Persons: Phil Mickelson, Billy Walters, Walters, Mickelson, Mickelson “, ” “, “, ” Walters, ”, Pete Rose, “ You’re, Arnold Palmer, ” Mickelson, “ Haven’t, Amy, Nevada ’ Walters, Donald Trump, “ Phil Mickelson, Phil, LIV Golf, Alan Shipnuck, “ Phil, ” Shipnuck, Jamal Khashoggi, LIV, Mohammed bin Salman, Khashoggi, Bin Salman Organizations: CNN, Twitter, Ryder, US, Dean Foods, United States, Southern, of, FBI, Securities and Exchange, League, PGA Tour, Saudi Arabia’s Public Investment Fund, Saudi, Congress Locations: Nevada, New York, of New York, Saudi, Saudi Arabia, Washington, al Qaeda

☆ Golf legend Phil Mickelson wagered more than $1 billion over decades, lost around $100 million, gambler claims
▼ + stars: | 2023-08-10 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

"Walters told Mickelson, according to an excerpt of the book published by Golf Digest. Walters writes that he asked Mickelson if he remembered what happened to Pete Rose, who was banned from baseball for life for betting on the Cincinnati Reds while managing that team. " 'You're seen as a modern-day Arnold Palmer,' " Walters writes he told Mickelson. 'Walters, 77, said that Mickelson replied: "Alright, alright." Walters wrote that he hoped Mickelson did not place that bet somewhere else, as the American team lost in a stunning comeback by the European squad that became known as the "Miracle at Medinah."

Persons: Phil Mickelson, Phil Mickelson wagered, Billy Walters, Walters, Mickelson, Pete Rose, Arnold Palmer Organizations: Safeway, Silverado, U.S, Ryder, Country, Golf Digest, Cincinnati Reds, American Locations: Napa , Calif

A stronger dollar makes crude more expensive for investors holding other currencies. PVM analyst Tamas Varga noted that for months, predictions have been made that global oil demand will grow in the second half of 2023 versus the first half, in tandem with supply cuts to reduce global oil inventories. The latest figures from the U.S.- the world's biggest fuel consumer - showed fuel demand rose the highest level since August 2019. A Reuters poll also estimated U.S. crude oil and gasoline stockpiles were expected to have declined last week. In a conference on Monday, BP (BP.L) chief Bernard Looney presaged oil demand growth continuing into next year and OPEC+ being increasingly disciplined.

Persons: Johan Sverdrup, Carina Johansen, NTB, Brent, Dennis Kissler, Tamas Varga, group's, Bernard Looney, Arathy somasekhar, Natalie Grover, Emily Chow, Christian Schmollinger, Sonali Paul, David Evans, Nick Macfie, Jan Harvey Organizations: Reuters Connect, HOUSTON, Brent, . West Texas, BOK, Reuters, Thomson Locations: North, ., U.S, OPEC, Saudi Arabia, Houston, London, Singapore

☆ Toronto stocks start August on a weak note as commodity-linked sectors drag
▼ + stars: | 2023-08-01 | by ( Siddarth S | ) www.reuters.com time to read: +2 min

A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. ET (1417 GMT) on Tuesday, the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 84.12 points, or 0.41%, at 20,542.52. Data showed Canada's manufacturing sector contracted for the third straight month in July as an uncertain economic outlook held back new orders, offsetting a pickup in production. Lower oil prices dragged the energy sector (.SPTTEN) down 0.7%. In the neighboring U.S., manufacturing appeared to stabilize at weaker levels in July, data showed, amid a gradual improvement in new orders.

Persons: Mark Blinch, Brian Madden, Siddarth, Shilpi Majumdar Organizations: Toronto Stock Exchange, REUTERS, Reuters, Toronto Stock, Bank of Canada, Investment, Silvercrest Metals, Thomson Locations: Toronto, China, U.S, Bengaluru

☆ Asian shares fall after US tech falters, dollar and yields hold gains
▼ + stars: | 2023-07-21 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.5%, heading for a weekly loss of 1.8%. China's bluechips (.CSI300) dipped 0.2% while Hong Kong's Hang Seng index (.HSI) bucked the trend with a gain of 0.4%. The onshore yuan was 0.2% higher at 7.1674 per dollar after the central bank set a much stronger guidance rate than expected. The U.S. dollar index was little changed at 100.78, after advancing 0.5% overnight, the biggest one-day gain since mid-May. The Australian dollar gave up almost all of its gains made after a strong local jobs data release to hover below 68 cents.

Persons: BOJ, Tesla, TSMC, China's, Wanda, Tony Sycamore, Stella Qiu, Lincoln Organizations: Netflix, Fed, ECB, Treasury, U.S . Federal Reserve, Bank of Japan, Japan's Nikkei, Authorities, Nasdaq, Tesla, IG, Microsoft, Apple, Meta, Federal Reserve, U.S, Australian, European Central Bank, TD Securities, Brent, . West Texas, Thomson Locations: SYDNEY, U.S, Asia, Pacific, Japan

Weeks later, Mr. Trump is the former President Trump. Instead, in a brief televised address shortly before 2:30 a.m., Mr. Trump furiously laid down his postelection lie. For weeks, Mr. Trump had been peppering him with tips of fraud that, upon investigation by federal authorities, proved baseless. The cavalry “is coming, Mr. President,” Kylie Kremer tweeted to Mr. Trump on Dec. 19. On Jan. 15, Mr. Trump acquiesced to an Oval Office meeting with Mr. Lindell, who arrived with two sets of documents.

Persons: Donald J, Trump, Joseph R, Biden, Justin Clark, Rudolph W, Giuliani, Clark, Weeks, Mitch McConnell, McConnell, Jared Kushner, McConnell’s, Biden’s, William P, Barr, Mr, Trump’s, Sidney Powell, Lin Wood, sleuths, MyPillow, Mike Lindell, Patrick Byrne, Stephen K, Bannon, Michael T, Flynn, platformed, Jared Taylor, Enrique Tarrio, Doug Mills, Eric, “ We’re, ”, Fox, Eric Trump, Newt Gingrich, Joe Biden’s, Kevin McCarthy, Laura Ingraham, Obama, Dennis Montgomery, Thomas McInerney, McInerney, John McCain, Bannon’s, “ it’s, Paul Gosar, Doug Ducey, Roy Blunt of, Roy Blunt, Anna Moneymaker, —, “, ” Mr, Mark Meadows, Josh Holmes, Kushner, — Mr, Mitt Romney, Lisa Murkowski, Lindsey Graham, Sean Hannity, Lindsey Graham of, Sean Hannity’s, — I’ve, Let’s, Graham, Pat A, Axios, Brendan Smialowski, “ Hannity, Thomas, Jenna Ellis, Matt Morgan, Al Gore, George W, Bush, Brooks, Stefan Passantino, Powell, Lynsey Weatherspoon, Gore, William H, Rehnquist, Giuliani —, Kris Kobach, Mark Martin, Lawrence Joseph, Kobach, Uncle Sam, Mr . Biden, Ken Paxton, Jeffrey M, Landry, Paxton, Kyle D, Hawkins, Jacquelyn Martin, Joseph, Richard L, Chris Carr, Carr, Mike Johnson of, Mike Johnson, McCarthy, Privately, Ted Cruz of, John Sauer, ’, ” James E, Nicolai, North, Wayne Stenehjem, Stenehjem, Wayne, Tasos Katopodis, MAGA, Marjorie Taylor Greene, Marsha Blackburn of, Ms, Blackburn, Amy Kremer, Ann Stone, Roger Stone, Amy Coney Barrett, Kremer’s, Kylie Jane Kremer, Jennifer Lawrence, Dustin Stockton, Lawrence, Stockton, I’ve, Lindell, they’d, Taylor, Greg Locke, Covid, Michael McKinney, Tucker Carlson, Carlson’s, “ Donald Trump, ” Ms, Meadows, Georgia runoffs, Byrne, Cipollone, he’d, Martin, Mike Pence, reconvene, ” Kylie Kremer, James Yeager, Kylie Kremer, Yeager’s, Lawrence whooped, John Kennedy, James Lyle, Josh Hawley, “ You’ve, Lyle, Couy Griffin, Kennedy, Pete Marovich, Kremer, Julie Jenkins Fancelli, Alex Jones, Caroline Wren, Kimberly Guilfoyle, Donald Trump Jr, Katrina Pierson, Brad Raffensperger, Jeffrey A, Rosen, Department’s, Jeffrey Clark, Scott Perry, Hawley, Cruz, Year’s, Tom Cotton of, Cotton, Cindy Chafian, Chafian, Jones, Stone, Locke, Jan, “ You’ll, Gosar, Griffin, Robert O’Brien, I’m, ’ ”, Kenny Holston, Donald Trump, ” Mark Walker, Ben Margot, Stefani Reynolds, Samuel Corum, Erin Schaff, David J, Ted Cruz, John Bazemore Organizations: Twitter, Dominion Systems, Trump, Biden, Dominion, New, New York City, The New York Times, Senate, New York, Republican Party, Capitol, White, Times, The Times, America News Network, Fox, America, Boys, New York Times, American, Air Force, Electoral College, Republicans, Joe Biden’s Democratic Party, Republican, Facebook, Democrats, Associated Press, “ Fox & Friends, White House, West Wing, “, Federal Bureau of Investigation, Veritas, Justice Department, Postal Service, York Daily, Agence France, Zignal Labs, Amistad, Thomas More Society, Mr, Electoral, Supreme, Lawyers, General Association, Associated, State, University of California, Republican House, Women, Tea Party, Trump -, Breitbart, of, Credit, SPAN, Tea Party Express, Republican National Committee, Internet, Army, Des Moines Register, Marine, General Services Administration, Swedish, Cowboys, Capitol ., Street Journal, Save, General Association ., Law Defense Fund, Freedom, Coalition, Proud Boys, Willard, Homeland Security, Party, Getty, Georgia Electoral College Locations: Detroit, Arizona, Georgia, New York, America, China, Trump, Grand Rapids, Mich, Philadelphia, Atlanta, Milwaukee, Santa Cruz ,, Arizona —, Russia, North Vietnam, United States, Roy Blunt of Missouri, Kentucky, Utah, Alaska, Lindsey Graham of South Carolina, Erie, Pa, Pennsylvania, Long, Bush, Florida, tightest, Kansas, North Carolina, Ken Paxton of Texas, Texas, State of Texas, Michigan, Wisconsin, Irvine, Mike Johnson of Louisiana, Ted Cruz of Texas, Missouri, Washington, Marsha Blackburn of Tennessee, Trump’s, Hudson, Stockton, Tennessee, Des Moines, Meadows, White, fistfights, Nashville, West Monroe, La, Louisiana, drumbeating, Tom Cotton of Arkansas, Delaware

☆ Warren Buffett cashed in his monster bet on Microsoft buying Activision Blizzard - but left some money on the table
▼ + stars: | 2023-07-18 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett exited his wager on Microsoft buying Activision Blizzard last quarter, filings show. Buffett built a $5 billion Activision stake, wagering the stock would hit Microsoft's offer of $95. One of Buffett's deputies oversaw Berkshire's purchase of 14.7 million Activision shares in 2021. After Microsoft bid $69 billion for Activision in January 2022, Buffett scooped up nearly 50 million shares as an arbitrage. The good news has sent Activision stock up 11% this month to $93, less than 2% below Microsoft's offer price.

Persons: Warren Buffett, Buffett, He's, Berkshire Hathaway, he'd, Charlie Munger, Charlie, Munger, Warren Organizations: Microsoft, Activision Blizzard, Activision, Service, Securities and Exchange Commission, SEC, US Federal Trade Commission Locations: Wall, Silicon, British

☆ Dollar at 15-month low as easing inflation firms rate peak bets
▼ + stars: | 2023-07-14 | by ( ) www.cnbc.com time to read: +3 min

The dollar index , which measures the U.S. currency against six major rivals, stood at 99.71 in early Asian hours, its lowest since April 2022. "Markets are generally pretty pleasant with the lower inflation data, because lower inflation together with the still resilient labour market supports the narrative of a soft landing in the U.S. economy," said Carol Kong, currency strategist at Commonwealth Bank Of Australia in Sydney. Ryan Brandham, head of global capital markets, North America, at Validus Risk Management, said the data on weekly jobless claims and producer prices are supportive of the soft landing. Although the recent trend of lower inflation may be encouraging, it probably won't be sufficient to change the committee's decision." The Japanese yen strengthened 0.23% to 137.71 per dollar and is on course for its best week against the dollar since January.

Persons: Carol Kong, Ryan Brandham, Christopher Waller, he's, Michele Bullock, bitcoin Organizations: US, Federal Reserve, Commonwealth Bank Of Australia, Risk, Fed Locations: U.S, Sydney, North America, Ethereum

☆ July 4: Was the last battle of the American Revolution fought in India?
▼ + stars: | 2023-07-04 | by ( Brad Lendon | ) edition.cnn.com time to read: +9 min

The answer is: The last battle of America’s war of independence was fought on this continent. DuVal and others say two key protagonists of the Revolutionary War – Britain and France – actually fought the final battle of the conflict in Cuddalore, India, in June of 1783. Britain and, to a lesser extent, France were well established with colonies in India when the American Revolution began and had already brought their hostilities from Europe to the subcontinent, according to the Museum of the American Revolution in Philadelphia. “They brought news that six months before in Paris, the British, French and the Americans – the Dutch were a little later – signed the Treaty of Paris ending the American Revolution,” he says. “Cuddalore, India, was indeed the last battle of the American Revolution.”

Persons: you’ve, Kathleen DuVal, ”, ” DuVal, DuVal, France –, “, Don Glickstein, Frederick the Great, Prussia, Maximilian Ulysses Count Browne, Prince Charles of Lorraine, it’s, Glickstein, ” Glickstein, David Allison, ” Allison, Generals Rochambeau, Marquis de Lafayette, – Organizations: CNN, University of North, British, US, Department, State Department’s Office, Austrian, Hulton, National Park Service, National Museum of, Smithsonian, Yorktown, Washington, Getty, Brits, American Revolution, Museum, American, British East India Company, Britain Locations: North America, Asia, University of North Carolina, United States, Massachusetts, Virginia, Britain, France, Cuddalore, India, British, Spain, Netherlands, American, Seattle, Yorktown, Quebec, Abraham, North Carolina, Pacific, Portugal, Canada, Prague, Yorktown , Virginia, “, Dutch Republic, Washington, Paris, Jamaica, Gibraltar, Europe, Philadelphia, Bengal

☆ Australia's consumer inflation hits 13-month low, adding to rate pause case
▼ + stars: | 2023-06-28 | by ( Stella Qiu | ) www.reuters.com time to read: +2 min

SYDNEY, June 28 (Reuters) - Australia's consumer inflation slowed to a 13-month low in May, driven by a sharp pullback in fuel, while a measure of core inflation also cooled in a sign interest rates might not have to rise again in July. Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price index (CPI) rose 5.6% in the year to May, marking the smallest increase since April last year. That was down from 6.8% the previous month and well below market forecasts of 6.1%. The core trimmed mean measure of CPI rose by an annual 6.1%, a seven-month low and again down from 6.7% in April. Wednesday's data showed the most significant drivers were an 8.4% jump in housing and a 7.9% increase in food and non-alcoholic beverages.

Persons: Tony Sycamore, Marcel Thieliant, Stella Qiu, Sam Holmes Organizations: SYDNEY, Australian Bureau, Statistics, Reserve Bank of Australia, IG, Bank, Capital Economics, Thomson

☆ 42-year-old turned $175,000 into a Pilates company—then sold it for $88.4 million: 'I put every dollar I had' into it
▼ + stars: | 2023-06-23 | by ( Megan Sauer | ) www.cnbc.com time to read: +6 min

Mahlum wagered everything to start Solidcore, a Washington D.C.-based company that brands itself as "Pilates core workouts redefined." Seven months later, she threw all her savings — $175,000 worth — into launching her own version of the company. She also raised $5 million from family and friends, leaving her with 80% of the startup's equity, she adds. CNBC Make It: What convinced you to pour your life savings into a Pilates business after a single workout? But I had a realization: If I take this money, all I'm communicating is that I'm doubting myself.

Persons: wasn't, she'd, —, Anne Mahlum, Solidcore, Mahlum, Adams Morgan, Larry Solomon —, I'd, Warren Buffett Organizations: Washington D.C, Global Health, Fitness, CNBC, Kohlberg, Company Locations: Washington, Philadelphia, New York City, Adams

☆ The betting odds are rolling in for who is favored to win in a cage fight between Elon Musk and Mark Zuckerberg
▼ + stars: | 2023-06-22 | by ( Will Gendron | ) www.businessinsider.com time to read: +4 min

Elon Musk raised the possibility of a hypothetical "cage match," with Mark Zuckerberg, over Twitter. Who has better odds in a physical match-up between Mark Zuckerberg and Elon Musk? Now, oddsmakers are hurriedly putting out betting lines for a cage fight between Zuckerberg and Musk — aged 39 and 51 respectively. Meanwhile, Musk was listed as a +140 underdog, meaning a $100 bet on Twitter's former CEO to win, would net $140. In its prediction, Musk is a -150 favorite, meaning you would have to bet $150 to win $100, while Zuckerberg is a +110 underdog, meaning a $100 bet, would net $11o.

Persons: Elon Musk, Mark Zuckerberg, Instagram, Sportsbooks, Elon, Musk, Zuckerberg, Nurmagomedov's playbook, Johnny Avello, DraftKings, Zuck, Dana White Organizations: Twitter, Meta, Morning, sportsbooks, Elon, UFC, & Sports Operations, TMZ Sports

☆ Jeff Bezos bought Amazon stock for the first time in more than 2 decades. He may be engaging in Elon Musk-style trolling.
▼ + stars: | 2023-06-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

In a surprising move, Jeff Bezos bought a single share of Amazon for about $115 in late May. Amazon stock has surged 47% this year, boosting the market capitalization of the ecommerce and cloud-services giant to $1.3 trillion. Bezos' recent purchase is notable because he's overwhelmingly been a seller of Amazon stock in the past 20 years. A broader rally of Big Tech stocks has lifted Amazon shares this year, as investors wagered that leading US tech companies would profit from the artificial-intelligence boom. Bezos' stock purchase was disclosed in an SEC filing on May 26 but has attracted fresh attention in recent days following a Bloomberg report.

Persons: Jeff Bezos, Bezos, hasn't, —, Elon, Elon Musk, Musk, he's Organizations: Elon, Service, Securities and Exchange, SpaceX, Weed, Twitter, Bloomberg, Origin, Big Tech, SEC

☆ And the Winners Are … ‘Succession’ Fans Who Correctly Chose the New C.E.O.
▼ + stars: | 2023-05-30 | by ( Wilson Wong | ) www.nytimes.com time to read: +1 min

Ultimately, none succeeded, as the company was sold to Lukas Matsson, a Swedish tech billionaire. But the perennial question of who would take the throne introduced a friendly, low-stakes competition to the viewing experience. Katie Way, a journalist in Brooklyn, did not watch the first three seasons of “Succession,” but she still put her name (and $20) into a bracket pool with nine other people. “I guess I’m a little contrarian.”By the end of the episode, Ms. Way and the other contestant had each claimed their $100. When asked what she would spend her winnings on, she said, “I probably spent more money buying wine bottles for the watch parties, so I’ll probably spend it on more food for future watch parties.”

Persons: venal Roy, Kendall, Roman, Shiv, Connor, Logan, Lukas Matsson, ”, Nelson Rose, Katie Way, “, I’ll Locations: Swedish, Brooklyn

☆ Carl Icahn lost $9 billion on an ill-timed short trade. Here's what he says are 3 big lessons from the soured bet.
▼ + stars: | 2023-05-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Carl Icahn admitted a huge bet against the economy was wrong and cost $9 billion over six years. In an interview with the FT, Icahn reflected on his ill-timed short trade. Between 2020 and 2021, Icahn Enterprises reported $4.3 billion in short losses. Amid the losses, Icahn added $4 billion of his own funds into the company. Meanwhile, Icahn is fighting claims from activist investor Hindenburg Research, which announced it's shorting Icahn Enterprises and said the firm is run like a Ponzi scheme.

☆ Buffett: Do not panic about U.S. banks and deposits
▼ + stars: | 2023-04-12 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

April 12 (Reuters) - Warren Buffett said people should not be panicked about the banking industry or the safety of U.S. bank deposits, despite the recent failures of Silicon Valley Bank and Signature Bank. "People shouldn't be worried about losing their money and their deposits they have in an American bank, but the message has gotten very confused," Buffett, 92, said on CNBC. Berkshire's equity portfolio includes several banks, including a $34.2 billion year-end stake in Bank of America Corp (BAC.N). Buffett says banks have "mismanaged" assets and liabilities for a long time, and "every now and then it bites them in a big way." Buffett also said he would bet $1 million that no American depositor would lose money from a bank failure in the next year.

☆ Stocks finished the quarter surprisingly strong. What’s next?
▼ + stars: | 2023-04-02 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

The tech-heavy Nasdaq made a remarkable resurgence, soaring nearly 17% in its best quarterly gain since the fourth quarter of 2020. The labor market has remained red hot, despite the Fed’s aggressive tightening campaign. The number of job openings fell in January , signaling a slight cooling but still hot labor market. The March jobs report. Friday: March jobs report and February consumer credit.

☆ Stocks bounced back in the first quarter, but it’s too early to celebrate
▼ + stars: | 2023-03-31 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

The broad-based S&P 500 seesawed throughout the quarter, ending January on a high note before tumbling in February, rising again in March and ultimately ending the quarter up about 7%. The tech-heavy Nasdaq made a remarkable resurgence, soaring nearly 17% in its best quarterly gain since the fourth quarter of 2020. That comes after a tough 2022 for tech stocks, as investors sought out less risky avenues to ride out turbulence from the Fed’s interest rate hike campaign. Bond prices rose as investors wagered that the Federal Reserve won’t raise rates as high as previously expected due to the banking crisis. Wall Street largely shrugged it all off, however, with stocks recouping their losses — and then some — as investors started snapping up tech stocks, boosting the broader equity market.

☆ Stocks bounced back this quarter, but it’s too early to celebrate
▼ + stars: | 2023-03-31 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

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