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☆ Constellation Brands CEO downplays worries about higher tariffs if Trump wins
▼ + stars: | 2024-10-04 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

In a Friday interview with CNBC's Jim Cramer, Constellation Brands CEO Bill Newlands brushed off concerns about the possibility of higher tariffs, which former President Donald Trump has pledged to implement if elected. Constellation Brands is known for a variety of popular beer brands imported from Mexico, including Modelo, Corona and Pacifico. Constellation Brands reported a mixed quarter Thursday, posting an earnings beat but a slight revenue miss. The company saw success with its beer brands, but the wine and spirits segment continued to weigh on business. Newlands said Constellation Brands is in the middle of improving wine and spirits and is beginning to see some results.

Persons: CNBC's Jim Cramer, Bill Newlands, Donald Trump, Trump, Newlands, Claudia Sheinbaum, Kim Crawford, We've Organizations: Constellation Brands, Modelo Locations: United States, Mexico, Corona, Pacifico, Veracruz

☆ Israel may not be able to take down Iran's nuclear sites on its own
▼ + stars: | 2024-10-04 | by ( Mikhaila Friel | Tom Porter | ) www.businessinsider.com time to read: +6 min

One option would be to take out Iran's nuclear sites — something Biden opposes. A hit on Iran's nuclear facilities could, however, create far graver consequences, potentially including a race by Iran to build a nuclear weapon. AdvertisementUS President Joe Biden would not support Israel's Prime Minister Benjamin Netanyahu in targeting nuclear sites. As The Financial Times noted, there are more than a thousand miles between Israel and Iran's main nuclear bases. And Iran's nuclear sites present a formidable target, sprawling across various sites, with several of the most sensitive located in heavily fortified underground bunkers.

Persons: Biden, —, Sabet, Joe Biden, Wisam, Benjamin Netanyahu, Jim Watson, Matthew Savill, Robert Dover, Issam, Filipo, Savill Organizations: Service, Geneva Graduate Institute, New York Times, Getty Images Israel, Brent, Reuters, Getty, Financial Times, US Congressional Research Service, Atomic Scientists, Royal United Services Institute, Hull University, EU, UN, University of Bristol Locations: Israel, Iran, It's, Lebanon, Anadolu, Fordow, London, Dover

☆ Russia is facing a 'time bomb' at the heart of its economy, economist says
▼ + stars: | 2024-10-04 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Russia is breaking down institutions and "borrowing from the future," Konstantin Sonin says. The economist notes Russia is taking measures to exert more control over its economy. But those actions are hurting Moscow's economic future, Sonin said. Konstantin Sonin, a professor at the University of Chicago Harris School of Public Policy, said he foresaw a dark economic future ahead for Russia. Putin's war not only imposes on today's Russians a worse life than they otherwise would have had.

Persons: Konstantin Sonin, Sonin, — Organizations: Service, University of Chicago Harris School of Public, Syndicate, Heineken, International Monetary Fund Locations: Russia, Ukraine, Moscow

☆ MrBeast's $100M Amazon reality show may succeed despite controversy. But it could come back to haunt him.
▼ + stars: | 2024-10-04 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +8 min

AdvertisementMrBeast confirmed this week that his upcoming Amazon show, Beast Games, had cost more than $100 million. "They'll still do partnerships with him," Diana D'Angelo, the CEO of Breaking Creatives Agency, told BI. A spokesperson for Donaldson told BI that the lawsuit had not yet been served to him despite being filed two weeks ago. AdvertisementHowever, Chedid told BI these "stonewall tactics" may "come back to bite him," affecting his reputation and future partnerships. D'Angelo told BI Donaldson might decide to speak up if the controversy starts to affect his "bread and butter" — his YouTube channel.

Persons: MrBeast, —, Diana D'Angelo, they'll, he's, Jimmy, Donaldson, YouTubers KSI, Logan Paul, Paul, Rolling Stone, Robyn Abou Chedid, Chedid, Thomas Walters, Ava Tyson, Kevin Mazur, Tyson, Kraft Heinz's Lunchables, Walters, D'Angelo Organizations: Service, Beast Games, Amazon, Creatives, Reuters, The New York Times, Las, Guided Agency, YouTube, Beast Locations: Amazon, Las Vegas, Los Angeles, Toronto

☆ A millennial with a Ph.D. and over $250k in student loan debt says she's been looking for a job for 4 years. She wishes she prioritized work experience over education.
▼ + stars: | 2024-10-04 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

A millennial with a Ph.D. and over $250,000 in student loan debt said she can't find a job. She's looking for business roles while working as a nurse to help pay the bills. She said she's been forced to expand her job search and explore a new career in nursing to help her make ends meet. AdvertisementRasberry said she thinks the biggest obstacle in her job search is her lack of work experience. She said working remotely would make it easier to keep her nursing job, reduce her commuting costs, and care for her dog.

Persons: —, Rasberry, She's, she's, I've, she'd, hasn't, — she's, wasn't, I'm Organizations: Service, Saint Leo University in, Business Locations: Saint Leo University in Florida, Virginia

☆ Problems keep piling up for budget airlines like Spirit Airlines — so get set to pay more
▼ + stars: | 2024-10-04 | by ( Pete Syme | ) www.businessinsider.com time to read: +4 min

Spirit Airlines is considering filing for bankruptcy protection, The Wall Street Journal reported. Its struggles are indicative of the wider issues faced by budget airlines as labor and fuel costs rise. AdvertisementIn another sign of the problems faced by budget airlines, The Wall Street Journal reported that Spirit Airlines is considering filing for bankruptcy protection. The introduction of premium-seating options and axing routes is spelling the end of budget airlines as we've known them. Its pre-tax income fell 63% in the second quarter of 2024 compared with the same period last year.

Persons: —, Ted Christie's, Neil Glynn, Glynn, Mario Tama, Elliott Organizations: Airlines, Street Journal, Service, Spirit Airlines, JetBlue, Control, Southwest Airlines, Getty, Frontier Airlines, Elliott Management

☆ Beyond Novo: Fund manager likes this under-the-radar pharma stock with a weight loss drug in the works
▼ + stars: | 2024-10-04 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

"Maybe that weight loss product (by United Laboratories) works, maybe it doesn't. United Laboratories' price-to-earnings of 5.8 times is a fraction of the 34.3 times that Novo Nordisk is trading at, Peche added. [United Laboratories] is making smooth progress in R & D and targets to launch Liraglutide in 2024. Their comments follow United Laboratories' "faster than expected earnings" growth in the first half of the year. Analysts' average price target on United Laboratories is 12.95 Hong Kong dollars, giving it 28.2% potential upside.

Persons: Sean Peche, it's, Peche, there's, that's, Eli Lilly, Amgen, Carol Dou, Sunny Chen, UOB Kay Hian, bode Organizations: Novo Nordisk, Ranmore Fund Management, United Laboratories, Pfizer, AstraZeneca, Global Equity Fund, Hong, Hong Kong bourse, HK Locations: Hong Kong, Novo, Europe, U.S

☆ Cramer breaks down the key consumer stocks to watch as earnings season kicks off next week
▼ + stars: | 2024-10-04 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCramer breaks down the key consumer stocks to watch as earnings season kicks off next week'Mad Money' host Jim Cramer looks at the state of the economy following the jobs report and which consumer stocks investors should watch ahead of earnings season.

Persons: Cramer, Jim Cramer

☆ Ferguson: This number is one of several that will be important.
▼ + stars: | 2024-10-04 | 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 EmailFerguson: This number is one of several that will be important. Former Federal Reserve Vice Chair Roger Ferguson underscores the importance of the upcoming jobs report for potential rate cuts, noting that it's one of many factors the Fed will consider.

Persons: Ferguson, Roger Ferguson Organizations: Former Federal

☆ Jobless rates fall for Black and Hispanic men in September
▼ + stars: | 2024-10-04 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

This trend bucked the overall unemployment rate, which inched lower to 4.1% in September, down just 0.1 percentage point from August. In September, Black men saw their jobless rate fall to 5.1% from 5.9% in the month prior. The jobless rate similarly fell for Hispanic men to 4.1% from 4.8% last month. The unemployment rate for men in Black and Hispanic racial groups declined in September while staying little-changed for other racial groups, according to data released Friday by the Department of Labor. "Black unemployment typically holds about two times higher than White unemployment, among the first to be laid off.

Persons: Sarah Foster, Foster, — Organizations: Amerant Bank, Department of Labor Locations: Florida, Sunrise , Florida, Black

☆ U.S. crude oil has risen nearly 9% this week as traders fear Middle East supply disruption
▼ + stars: | 2024-10-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Just how high prices would go depends on whether OPEC uses its spare oil capacity to plug the gap, Struyven said. Here are today's energy prices:Though oil prices have surged this week on geopolitical tensions, they have risen from a low baseline. "The risk to the oil price outlook are definitely significant," Struyven told CNBC's "Squawk Box Asia" Friday. The oil market had largely ignored the escalating war in the Middle East until Iran launched nearly 200 ballistic missiles at Israel on Tuesday. The risk premium has been modest because there haven't been sustained supply disruptions over the past two years despite high geopolitical tensions, Struyven said.

Persons: Joe Biden, Daan Struyven, Goldman Sachs, Struyven, CNBC's, Brent, haven't Organizations: OPEC Locations: Israel, Israeli, China, East, Iran

☆ Belfor Holdings CEO on Hurricane Helene aftermath: The damage is so extensive and devastating
▼ + stars: | 2024-10-04 | 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 EmailBelfor Holdings CEO on Hurricane Helene aftermath: The damage is so extensive and devastatingSheldon Yellen, Belfor Holdings CEO, joins 'Squawk Box' to discuss the aftermath of Hurricane Helene, state of the cleanup efforts, and more.

Persons: Helene, Sheldon Yellen Organizations: Belfor, Belfor Holdings Locations: Hurricane

☆ Undecided Voters Tell Us About Their Biggest Worries
▼ + stars: | 2024-10-04 | by ( Ruth Igielnik | Christine Zhang | ) www.nytimes.com time to read: +8 min

Among undecided and persuadable voters Personality/behavior No biggest concern Ethics/honesty Ability to do the job Threat to democracy Race/racism/sexism Court cases/convictions Abortion Immigration Other 10 20 30% What, if anything, is your biggest concern about Kamala Harris? Among undecided and persuadable voters Honesty/trustworthiness Judgment/character No biggest concern Economy Lack of experience Ideology Need to know more Immigration Track record Other 10 20 30% What, if anything, is your biggest concern about Donald Trump? Among undecided and persuadable voters Personality/behavior No biggest concern Ethics/honesty Ability to do the job Threat to democracy Race/racism/sexism Court cases/convictions Abortion Immigration Other 10 20 30% What, if anything, is your biggest concern about Kamala Harris? White woman, 30s, Arizona “Little power hungry.”White man, 30s, North Carolina “His authoritative tendencies.”Woman, 40s, Michigan “Probably his rhetoric, maybe, and how he presents himself. Voters specifically mentioned costs and inflation, a persistent concern among undecided and not fully decided voters over the last few months.

Persons: Donald J, Trump, Kamala Harris, —, He’s, ”, ” “, Georgia “, Joe Biden, Donald Trump, “, Donald Trump’s, Michigan “, doesn’t, Harris, Trump’s, ” Harris, she’s, North Carolina “, She’s, I’m Organizations: The New York Times, Siena College, New York Times, Trump, Wisconsin, North Carolina “, Michigan, North Carolina “ Democrats Locations: Ohio, Arizona, Wisconsin, Georgia, Arizona , Georgia, Michigan, North Carolina , Ohio, Siena, North Carolina

☆ Long wait for IPO market to reopen is over: UBS
▼ + stars: | 2024-10-04 | 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 EmailLong wait for IPO market to reopen is over: UBSGareth McCartney, the global co-head of equity capital markets at UBS, discusses the current IPO market.

Persons: UBS Gareth McCartney Organizations: UBS

☆ The U.S. is enjoying a 'Goldilocks' moment, says BofA's Savita Subramanian
▼ + stars: | 2024-10-04 | 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 EmailThe U.S. is enjoying a 'Goldilocks' moment, says BofA's Savita SubramanianSavita Subramanian, BofA Securities head of U.S. equity and quantitative strategy, joins 'Squawk Box' to discuss the state of the economy, what to expect from today's September jobs report, the Fed's inflation fight, latest market trends, and more.

Persons: BofA's Savita Subramanian Savita Subramanian Organizations: BofA Securities

North Carolina has racked up the highest death toll thus far with 106 fatalities reported. Kim AshbyKim Ashby, a North Carolina teacher of 20 years, is described as “the glue that holds everyone together,” her daughter, Jessica Meidinger, told CNN. A neighbor took a photo of the Ashby home in Elk Park, North Carolina, as it floated in the river on Friday. Omar Khan, 44, disappeared after Helene flooded Asheville, North Carolina. Julie Le Roux has been missing since a mudslide destroyed the Marion, North Carolina, home she had taken shelter in from the raging storm.

Persons: Helene, Deanne Criswell, CNN’s Jim Acosta, ”, Buncombe County Sheriff Quentin Miller ., Steven Cloyd Steven Cloyd, Matthew Cloyd Matthew Cloyd, Steven Cloyd, he’s “, Matthew Cloyd, “, Steven, Keli Cloyd, Keli, he’d, ” Steven Cloyd texted, texted, ” Keli Cloyd, Matthew, Steven Cloyd’s Jeep, Kim Ashby Kim Ashby, Jessica Meidinger, Kim, Rod Ashby, Meidinger, ” Meidinger, ” Kim Ashby, Lauren Meidinger, Rod, ” Lauren, ‘, ’, stepdad, Kim Ashby, Ashby, ” Jessica Meidinger, Jessica, he’s, ” Lauren Meidinger, they’ve, she’s, Rosa Andrade, Carina Alonso, Erwin , Tennessee –, Alonso, WVLT, Andrade, ” Alonso, Francesco Guerrero, Rosa Maria Andrade Reynoso, Guadalupe Hernandez, Monica Hernandez Corona, Saul Young, Jimmy Erwin, ” Omar Khan Omar, floodwater, K.M, Khan, Omar Khan, Zubila Shafiq, ” K.M, Shafiq, could’ve, We’re, ” Shafiq, Julie Le Roux, John Norwood, Le Roux, WRAL, Norwood, Robert Martin, Will Kehler Organizations: CNN, FEMA, Carolina’s Buncombe County Sheriff’s, Buncombe County Sheriff, CNN News Central, News Sentinel, USA, Associated Press, WCYB, Emergency, ABC, WRAL Locations: United States, Carolina’s Buncombe County, Buncombe County, Buncombe County Sheriff Quentin Miller . North Carolina, North Carolina, Rockford , Illinois, Elk Park , North Carolina, Tennessee, Sanford, Raleigh, Elk, floodwater, Erwin ,, Andrade, Erwin , Tennessee, Unicoi, Asheville , North Carolina, McDowell County, Norwood, Marion , North Carolina, ”

☆ Red Lobster is a mess. Here’s why the new 35-year-old CEO wanted the job anyway
▼ + stars: | 2024-10-04 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +10 min

Red Lobster's new chief executive Damola Adamolekun during an interview with CNN at a Red Lobster in Long Island, New York, last week. CNNIn Springfield, he first ate at a Red Lobster with his parents and two siblings after church one Sunday. Red Lobster was where he, like millions of Americans, experienced eating lobster and cracking crab legs for the first time. Beyoncé sang about taking a romantic partner to Red Lobster in her 2016 hit song “Formation.”After Red Lobster filed for bankruptcy, Flava Flav ordered the whole menu to try to save the company. Red Lobster closed more than 100 restaurants this year, including a location in Orlando, Florida, shown this year.

Persons: Damola Adamolekun, “, ” Adamolekun, It’s, ”, Adamolekun, Bill Darden, Mills, Chris Rock, Nicki Minaj, Beyoncé, Flav, “ Mr, ” —, Kevin Lamarque, Clarence Otis Jr, RJ Hottovy, Hottovy, Adamolekun’s, ” Hottovy, ’, Red, Phelan M, can’t, John Paulson, Paulson, P.F, Chang’s, Morgan McClure, Fortress, ” McClure, Brandon Bell, isn’t Organizations: New, New York CNN, CNN, Fortress Investment, Fortress, Red, Boomers, Darden, Thai Union Group, Former Red Lobster, Thai Union, As Thai Union, Thai, Brown University, Harvard Business School, Paulson & Co Locations: New York, Long, , New York, Nigeria, Zimbabwe, Netherlands, Springfield , Illinois, United States, Long Island , New York, Springfield, America, Alexandria , Virginia, Olive, Thai Union, Thai, Orlando , Florida, P.F, Chang’s, Columbia , Maryland, New York City, Scottsdale , Arizona, Austin , Texas

☆ OpenAI just secured a ton of new cash. Now it needs to wow us
▼ + stars: | 2024-10-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

One thing seems clear: The company is burning through far more cash than it’s bringing in, according to reporting from the New York Times. (That’s revenue largely from subscriptions to premium versions of ChatGPT and licensing its tech to third-party developers.) Here’s where things get a little wild:Next year, OpenAI estimates that its revenue will more than triple to $11.6 billion. It’s not clear how, or whether, OpenAI is working on reducing its significant cash burn. “It has nothing to do with reality.”One way OpenAI could improve its margins would be to cut costs.

Persons: CNN Business ’, New York CNN —, Goldman Sachs, that’s, Gil Luria, Davidson, ” Luria, “, Luria, There’s, OpenAI, Sam Altman, we’ve, ” Organizations: CNN Business, New York CNN, Google, Pfizer, Microsoft, Nvidia, Ark Investment Management, Apple, Wall Street, New York Times, Times, CNN, CNBC, Bravo, ” Locations: New York, Silicon Valley, Silicon

Business Insider asked 27 venture-capital investors to nominate the most promising fintechs. VCs highlighted startups that haven't raised beyond a Series C.Here are the 49 most promising fintechs. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Business Insider asked 27 top investors — including Index Ventures, QED Investors, and Bain Capital Ventures — to name some of those diamonds in the rough. Check out the 49 startups identified as most promising by 27 top investors.

Persons: —, fintechs Organizations: Service, Business, Index Ventures, Bain Capital Ventures

☆ Beijing is trying to put a 'floor' on the economy with its stimulus measures: China Beige Book CEO
▼ + stars: | 2024-10-04 | 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 EmailBeijing is trying to put a 'floor' on the economy with its stimulus measures: China Beige Book CEOLeland Miller, China Beige Book CEO, joins 'Squawk Box' to discuss the state of China's economy, impact of Beijing's stimulus package, and more.

Persons: Leland Miller Organizations: Beijing Locations: China

☆ The best geopolitical hedges from gold to oil and even stocks
▼ + stars: | 2024-10-04 | by ( Sean Conlon | Kavitha Shastry | ) www.cnbc.com time to read: +2 min

For those looking to hedge against geopolitical risk, stocks are actually a pretty good way to do so, along with oil and gold. Bank of America looked at the best performers in the three and six months after major geopolitical events, including the Iraq War and Russia's invasion of Ukraine . The investment bank found that oil has historically been the best performer in the three months following major geopolitical events, generating a median return of 8.3%. On the other hand, gold is the best geopolitical hedge in the six months after such episodes. "[B]ad geopolitical events have not been bearish for risk assets in recent years, arguably the opposite," analyst Michael Hartnett wrote in a Thursday note.

Persons: –, They've, Michael Hartnett, Hartnett Organizations: Bank of America Locations: Iraq, Ukraine, Israel, Iran, Russia, China, Taiwan

☆ Ashley and Tyler from 'Love Is Blind' have had the most drama-free relationship so far, but the preview teases there could be trouble ahead
▼ + stars: | 2024-10-04 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +4 min

"Love Is Blind" season seven features a cast of singles from the Washington, DC area. Ashley and Tyler, two professionals in their 30s, are one of the seven couples to get engaged. Advertisement"Love Is Blind" is back — and in season seven, seven couples from the Washington, DC area made it out of the pods to meet face to face. AdvertisementUnlike some of the other couples, Ashley and Tyler don't have any significant on-camera tension while on vacation. Tyler and Ashley in "Love Is Blind" season seven, episode six.

Persons: Tyler, —, Ashley, they're, Tyler don't, Netflix Ashley, Ashley don't, what's, Alex Organizations: Service, Netflix, LinkedIn Locations: Washington ,, Mexico

☆ Celebrities who partied with Diddy may want to contact their lawyers
▼ + stars: | 2024-10-04 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +9 min

Celebrities who partied with Combs may want to consult their lawyers, entertainment attorneys told BI. AdvertisementCelebrities who attended Sean "Diddy" Combs' parties should consider lawyering up, even if they attended one of his more high-profile soirees. "He's had many legitimate parties over the years and, chances are, most celebrities and guests were not aware of his sex parties." AdvertisementThe "Freak Offs," prosecutors say, occurred regularly, often in hotel rooms, and sometimes lasted multiple days. "Sean Combs' white parties and other events were iconic, a true convergence of hip-hop, Hollywood, and Black excellence.

Persons: Sean, Diddy, Combs, —, Wayne Dennison, Brown Rudnick, Johnny Depp, Amber Heard, Dennison, Neama Rahmani, they're, Rahmani, Stuart Morton, Camron, Mills Sadat Dowlat, Tre Lovell, Lovell, He's, Marc Agnifilo, Jane Rosenberg, Sean Combs, Johnny Nunez, WireImage, Adria, Jonathan Davis Organizations: Service, Hamptons, West, Trial, Getty, Los, Lovell, Reuters, White Party Locations: Beverly Hills, St, Manhattan, Brooklyn, Los Angeles, Miami

☆ Former SC Ports Authority CEO Jim Newsome on automation at ports and impact of strikes
▼ + stars: | 2024-10-04 | 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 EmailFormer SC Ports Authority CEO Jim Newsome on automation at ports and impact of strikesJim Newsome, Former South Carolina Ports Authority CEO, joins 'Closing Bell: Overtime' to discuss the port strikes and what happens next.

Persons: Jim Newsome Organizations: Former SC Ports, Former South Carolina Ports

☆ Head of LinkedIn MENA discusses new sentiment survey
▼ + stars: | 2024-10-04 | 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 EmailHead of LinkedIn MENA discusses new sentiment surveyAli Matar, head of LinkedIn MENA and EMEA growth markets, discusses how professionals in the UAE, Saudi Arabia and globally are navigating workplace changes.

Persons: Ali Matar Organizations: LinkedIn Locations: UAE, Saudi Arabia

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