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☆ Amazon just released its Temu killer and Bank of America likes the move
▼ + stars: | 2024-11-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Bank of America sees Amazon' s discount storefront offering as a beneficial tool in fending off Temu and Shein. The e-commerce giant launched its Haul platform on the Amazon app, exclusively featuring products under $20. Bank of America analyst Justin Post said Temu and Shein's growth over the past year created a headwind of 1 percentage point for Amazon, according to an analysis of Bloomberg Second Measure data. Amazon's new offering comes as retailers have tried to compete with Temu and Shein, which are known for their low price tags. He said Amazon and these other companies could face obstacles if President-elect Donald Trump's proposed tariffs on imports come to fruition.

Persons: Justin Post, Temu, Donald Trump's, Post, LSEG Organizations: of America, Shipping, Bank of America, Amazon, Bloomberg

☆ Vaccine maker stocks tumble after Trump picks RFK Jr. for health secretary
▼ + stars: | 2024-11-14 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Shares of prominent vaccine makers plunged Thursday after President-elect Donald Trump announced his pick of Robert F. Kennedy Jr. to be the next secretary of the Department of Health and Human Services. An hour before the market closed Thursday, as news reports of Trump’s choice began trickling out, Covid-19 vaccine maker Moderna dipped as much as 6%, and Pfizer fell almost 2%. Novavax, which created a protein-based Covid-19 vaccine, fell almost 6%. Last week, Kennedy said he would “immediately” begin studying vaccine safety and efficacy but promised to not “take vaccines away from anybody.”Other vaccine-related companies also felt the fallout. Over the past year, Pfizer stock has dipped 11%, and Moderna stock has plunged 46%.

Persons: Donald Trump, Robert F, Kennedy Jr, Kennedy, “, Trump, ” Trump, CNN’s Kaitlan Collins, Kristen Holmes, Aaron Pellish Organizations: New, New York CNN, Department of Health, Human Services, Moderna, Pfizer, BioNTech, British GSK, Health, HHS Locations: New York, British

☆ British Museum receives donation of Chinese ceramics worth $1.27 billion
▼ + stars: | 2024-11-14 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

London Reuters —The British Museum said on Wednesday it would receive 1,700 pieces of world-renowned Chinese ceramics worth around 1 billion pounds ($1.27 billion), in the largest donation in its nearly 300-year history. The collection, which has been on loan to the British Museum since 2009, has been donated by the Percival David Foundation. The Trustees of the British Museum“This is the largest bequest to the British Museum in our long history,” said George Osborne, chair of the British Museum. “It’s a real vote of confidence in our future.”Thanks to the donation, the British Museum said it would hold one of the most important collections of Chinese ceramics of any public institution outside the Chinese-speaking world, numbering 10,000 objects. Porcelain was first produced in China around AD 600, and it is by far the most advanced in the world.

Persons: Percival David, ”, George Osborne, “, Chris Bryant Organizations: London Reuters —, British, British Museum, Percival, Percival David Foundation, British Museum British, Shanghai Museum, Metropolitan Museum Locations: British, China, New York

☆ Crisis-era regulation has 'gone too far', Reeves tells UK finance sector
▼ + stars: | 2024-11-14 | by ( ) www.cnbc.com time to read: +2 min

Britain's Finance Minister Rachel Reeves has pledged to make the "necessary", "urgent" and "incredibly tough" choices to restore the country's economic stability. Finance minister Rachel Reeves on Thursday promised a reboot of regulation governing Britain's "crown jewel" financial industry which she said has shackled the City's global prospects since the global financial crisis and stifled UK economic growth. That has gone too far and, in places, it has had unintended consequences which we must now address." The former Bank of England economist will propose five priority growth opportunities to maximize potential for growth in UK financial services, namely capital markets, fintech, sustainable finance, asset management and wholesale services, and insurance and reinsurance, the excerpts showed. She said the first Financial Services Growth and Competitiveness Strategy would be published in spring to serve as a roadmap for growth, cementing the sector's place at the heart of the government's 10-year Industrial Strategy.

Persons: Rachel Reeves, Reeves, Donald Trump's, Keir Starmer Organizations: Britain's, Bank of England, Financial

☆ Gaetz faces rocky road to confirmation as pressure builds for release of House ethics probe
▼ + stars: | 2024-11-14 | by ( Manu Raju | Lauren Fox | ) edition.cnn.com time to read: +8 min

Sen. John Cornyn, a member of the Senate Judiciary Committee, said he “absolutely” wants to see the House Ethics Committee’s findings on Gaetz. “I think there should not be any limitations on the Senate Judiciary Committee’s investigation, including whatever the House Ethics Committee has generated,” he said. Trump has pushed to keep all options on the table to greenlight his nominees, including recess appointments, which would bypass the typical Senate confirmation process. However, Sen. Rick Scott told CNN, “I believe in recess appointments.” Scott had supported recess appointments during his bid for GOP leader, which he lost to Thune. The Supreme Court has ruled on questions about recess appointments, which makes the outcome of taking these questions to court uncertain.

Persons: Donald Trump’s, Matt Gaetz, Sen, John Cornyn, “, ”, Gaetz, John Thune, James Lankford, ” Cornyn, Cornyn, Rick Scott, ” Scott, Scott, Trump’s, Dick Durbin, Richard Blumenthal, Chris Coons, Durbin, Donald Trump, ” Blumenthal, “ Matt Gaetz, ” Coons, he’s, Thune, Leah Millis, Reuters Sen, Chuck Grassley, “ We’ve, ” Grassley, Lindsey Graham, Thom Tillis, Tillis, Graham, ” Sen, Josh Hawley, ” Graham, Matt, ” Tillis, Samuel Corum, it’s, ’, Thune couldn’t, CNN’s Danya Gainor, Sarah Ferris, Annie Grayer, Ted Barrett, Morgan Rimmer, Emma Newman Organizations: CNN, Top, Republicans, GOP, Trump, Florida Republican, Democratic, Democrats, Republican U.S, U.S, 119th, Capitol, Reuters, Democrat, Senate Locations: Florida, Washington , U.S, Sens, Washington , DC

☆ Human Rights Watch accuses Israel of mass displacement in Gaza amounting to a war crime
▼ + stars: | 2024-11-14 | by ( Mick Krever | Irene Nasser | ) edition.cnn.com time to read: +4 min

CNN —Israel has overseen the forced mass displacement of Palestinians in Gaza in a deliberate and systematic campaign that amounts to a war crime and a crime against humanity, according to a new Human Rights Watch report. Several Israeli ministers, however, have said they would like to see Palestinians leave Gaza and reestablish Israeli settlements there. And far-right Finance Minister Bezalel Smotrich, who also holds a position in the Defense Ministry, has said Israel “will rule (in Gaza). Human Rights Watch said the Israeli campaign in northern Gaza would likely lead to the displacement of hundreds of thousands more civilians. It also called on the International Criminal Court to investigate the alleged forced displacement of Palestinians as a crime against humanity.

Persons: CNN —, “, ”, Nadia Hardman, “ Israel, Israel, Benjamin Netanyahu, Gideon Sa’ar, Itamar Ben, Gvir, Bezalel Smotrich, Israel “ Organizations: CNN, Rights Watch, United Nations, HRW, UN, Hamas, National, Defense Ministry, US State Department, Court Locations: CNN — Israel, Gaza, Israel, ”, States

☆ SoftBank-backed fintech Zopa aims to double profit this year as it eyes 2025 current account launch
▼ + stars: | 2024-11-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

LISBON, Portugal — British online lender Zopa is on track to double profits and increase annual revenue by more than a third this year amid bumper demand for its banking services, the company's CEO told CNBC. Zopa posted revenues of £222 million ($281.7 million) in 2023 and is expecting to cross the £300 million revenue milestone this year — that would mark a 35% annual jump. The firm also says it is on track to increase pre-tax profits twofold in 2024, after hitting £15.8 million last year. In 2024, we've hit or exceeded the plans across all metrics," CEO Jaidev Janardana told CNBC in an interview Wednesday. He said the strong performance is coming off the back of gradually improving sentiment in the U.K. economy, where Zopa operates exclusively.

Persons: Zopa, we've, Jaidev Janardana Organizations: CNBC, Zopa Locations: LISBON, Portugal, British, U.K

☆ Here's the deflation breakdown for October 2024 — in one chart
▼ + stars: | 2024-11-14 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

"We are seeing [deflation] to some extent," said Stephen Brown, deputy chief North America economist at Capital Economics. Energy prices and electronicsGasoline prices are also "way down," Zandi said. Consumers "could get more relief there because global oil prices are soft," Zandi said. Food prices are also generally underpinned by their own unique supply-and-demand dynamics, economists said. Lower energy prices can also take pressure off food prices, as it costs less to transport and distribute food to grocery store shelves.

Persons: Stephen Brown, Mark Zandi, women's outerwear, they've, Zandi, They've, Donald Trump's, they'd, Bacon Organizations: North, Capital Economics, U.S, Moody's, Finance, CPI, Bank of America, U.S . Energy Information Administration, Consumers Locations: U.S, North America, China

☆ Britain's car finance industry is in crisis – with banks bracing for billions in payouts
▼ + stars: | 2024-11-14 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

Mike Kemp | In Pictures | Getty ImagesBritain's motor finance industry is in disarray, with analysts warning of worst-case scenarios similar in magnitude to the country's costliest consumer banking scandal. The decision caught many in the motor finance industry off guard and appears to have paved the way for a multi-billion-pound redress scheme to compensate consumers. It urged motor finance groups to consider setting aside financial provisions to resolve the high volume of complaints. According to the banks, they followed the rules and guidelines set by the FCA, which are not aligned with the new Court of Appeal ruling," Kammer told CNBC via email. The FCA has said that it will await the outcome of a potential Supreme Court ruling before taking a decision on the matter," Kammer said.

Persons: Mike Kemp, Banks, Niklas Kammer, Kammer, Benjamin Toms, Toms, John Keeble Organizations: Royal Exchange, City of, Appeal, Authority, FCA, Morningstar, Lloyds, Horse, Barclays, Lloyds Banking, Bloomberg, Getty, of, CNBC, PPI, RBC Capital Markets, Taxis, Fenchurch, Station Locations: City, City of London, London, United Kingdom, U.K

☆ Bernard Arnault, the world's richest person, appoints son to CEO role at LVMH amid leadership shake-up
▼ + stars: | 2024-11-14 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

Bernard, CEO and chairman of LVMH, is the world's richest person with a $158.5 billion net worth. Related Video 5 ways Elon Musk shook up Twitter as CEOAlexandre Arnault and Bernard Arnault in 2016. Representatives for LVMH, Arnault, and Guiony did not respond to requests for comment from Business Insider. The new appointments also drum up speculation about who will succeed Bernard as LVMH's CEO. The Arnault family has been compared to the Roy family, the subjects of the HBO drama, "Succession."

Persons: Alexandre Arnault, Moët Hennessy, Bernard Arnault's, —, Bernard Arnault's multibillion, LVMH, Bernard, Christian Dior, Bernard's, Alexandre, Elon Musk, Bernard Arnault, Donato Sardella, Louis Vuitton, Jean, Jacques Guiony, Guiony, — Alexandre, Frédéric —, Delphine Arnault, Dior Couture, Antoine Arnault, Antoine, Jean Arnault, Roy, Roy family's Organizations: Service, company's Sustainability, LVMH's, Product, Communications, Tiffany, LVMH, Business, Reuters, Christian Dior, HBO, New York Times Locations: LVMH

☆ Piper Sandler upgrades Campbell Soup to buy, highlights sauces brand Rao's
▼ + stars: | 2024-11-14 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Campbell Soup has a promising long-term growth outlook thanks to Rao's, its popular sauces brand, according to Piper Sandler. The company completed its acquisition of Rao's parent company Sovos Brands earlier this year for approximately $2.7 billion. The stock is also down more than 10% over the past three months, indicating a good entry point for investors, the analyst added. "Continued strong growth [is] expected" for the Rao's brand, he added. Lavery added that potential steel tariffs under President-elect Donald Trump's second administration could present headwinds to Campbell Soup, which uses steel for its soup cans.

Persons: Campbell, Piper Sandler, Michael Lavery, Lavery, Donald Trump's Organizations: Sovos Brands Locations: Italy

☆ Matt Gaetz has a history of going after Big Tech. As Trump's attorney general, he'd be tasked with enforcing antitrust laws.
▼ + stars: | 2024-11-14 | by ( Erin Snodgrass | Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

Gaetz has criticized Big Tech for censoring conservatives and supports antitrust enforcement. Both the Justice Department and the FTC enforce antitrust laws that impact large tech companies. Gaetz has frequently railed against Big Tech, accusing Silicon Valley firms of censoring conservatives. The current Federal Trade Commission chair, Lina Khan, whom Trump may end up replacing, has aggressively gone after Big Tech companies. "But the hurdles for Big Tech could remain elevated," he added.

Persons: Donald Trump, Matt Gaetz, Gaetz, —, Trump, Lina Khan, Khan, JD Vance, Mark, Buchanan Ingersoll, Rooney, he's, Isaac Boltansky, Barron's, Kasten, TikTok, George Hay, Hay Organizations: Big Tech, Justice Department, Service, Senate, Florida Republican, Business, FTC, Federal Trade Commission, Nvidia, Meta, Microsoft, Wall Street Journal, China, Apple, Google, Cornell University Locations: Florida, Silicon, Silicon Valley

☆ Why Musk supports Trump getting rid of EV tax credits
▼ + stars: | 2024-11-14 | by ( Graham Rapier | ) www.businessinsider.com time to read: +6 min

Tesla stands to benefit from any removal of consumer tax credits on electric vehicle purchases. AdvertisementElon Musk supports a Trump plan to end tax credits of up to $7,500 for electric vehicle purchases. On Thursday, Reuters reported that Trump plans to end the EV tax credit, with support from Tesla representatives. In October, the Alliance for Automotive Innovation, an industry group representing Ford, GM, Honda, Toyota, and others, urged Congress to keep the tax credits. While Musk supports cutting the EV tax credit, reports of its potential demise appear to have spooked investors.

Persons: Tesla, Elon Musk, EVs, —, Elon, Musk, Trump, Kelley, Dan Ives, Joe Biden's, It's, Vaibhav Taneja, Benjamin Zhang Organizations: Service, US, Reuters, Ford, Tesla, Republican, BMW, Honda, Hyundai, Alliance for Automotive Innovation, GM, Toyota, Politico Locations: Detroit, Mexico

☆ An ex-Meta employee calculated that his family of 3 needs $5.6 million to retire in San Francisco. Here's the formula he used and how he plans to hit his 'enough number.'
▼ + stars: | 2024-11-14 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

When Andre Nader got laid off, he and his wife had enough in savings that he didn't have to job search. To go from 'semi FIRE' to 'full FIRE,' he calculated his family of 3 would need $5.6 million. He and his wife were living and working full-time in tech in San Francisco, raising a toddler, and loosely planning on eventually leaving the expensive Bay Area. His "enough number" is also different — it's closer to $5.6 million, he told Business Insider. His "enough number" is constantly shifting, but here's how he came up with $5.6 million for a family of three living in San Francisco.

Persons: Andre Nader, doesn't, —, Meta, Nader, They'd, I'm, I've, outsized, he's, Roth Organizations: Service, FIRE, Affordable, UC, Social Security, Vanguard, Market, Index Fund Locations: San Francisco, Meta, California

☆ Georgia’s Fulton County Jail subjects inmates to ‘inhumane, violent’ conditions that threaten their safety, DOJ finds
▼ + stars: | 2024-11-14 | by ( Ashley R. Williams | ) edition.cnn.com time to read: +9 min

CNN —The Fulton County Jail in Atlanta unconstitutionally subjects inmates to “inhumane, violent and hazardous conditions” that threaten their safety, a US Justice Department official said Thursday, announcing the results of a 16-month investigation. “We cannot turn a blind eye to the inhumane, violent and hazardous conditions that people are subjected to inside the Fulton County Jail,” Clarke said. The deaths of Thompson and other inmates in the mental health unitThe 105-page report lays out examples of the problems it alleges, including the treatment of inmates with mental health challenges. Meanwhile, around 75% of the people who have died at the jail since 2021 had a mental health diagnosis or history of mental illness, Buchanan said. “The Fulton County Jail had as many stabbings in a single month as the Miami-Dade County Jail had all year, and that’s a facility with one-and-a-half times more people,” Clarke said.

Persons: ” Kristen Clarke, Lashawn Thompson, “, ” Clarke, Thompson, Kristen Clarke, WANF, ” Ryan Buchanan, ” Buchanan, Michael Harper, ” Harper, Thompson’s, –, Fulton County Sheriff Patrick Labat, Buchanan, ”, CNN’s Ryan Young, Nick Valencia, Hannah Rabinowitz, Dakin Andone Organizations: CNN, Jail, US Justice Department, Justice, US, Justice Department, Sheriff’s, Northern, Northern District of, Thompson’s, Fulton County Sheriff, Miami, Department team’s Locations: Fulton, Atlanta, Northern District, Northern District of Georgia, Fulton County, Dade, Union City

☆ Apple's future product lineup is starting to come into focus
▼ + stars: | 2024-11-14 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Apple is exploring new headsets and smart-home devices to expand its lineup. Its plans don't always work out; it scrapped a car project and faces weak demand for the Vision Pro. The company in February scrapped plans for a car, and its $3,500 Vision Pro has gotten mixed reviews in the months since its release. Bloomberg on Tuesday reported on a wall-mounted smart-home tablet in Apple's production lineup that could operate home appliances, use Apple Intelligence, and access Apple apps. AdvertisementThe report said the project, code-named J490, could come as early as March, a month before new Apple Intelligence features are expected to roll out.

Persons: —, Mark Gurman, Ming, Chi Kuo, Apple's, Gurman, Apple, EMARKETER, Kuo, Meta, William Kerwin, Tim Cook, who's Organizations: Apple, Vision, Service, Bloomberg, Apple Intelligence, Big Tech, Asset Management, Business Locations: Taiwan, Morningstar

☆ These mutual funds are about to drop a tax surprise in investors’ portfolios. How to prepare
▼ + stars: | 2024-11-14 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

Hefty capital gains tax bills could be around the corner for investors in certain mutual funds. Fund families are notifying shareholders of estimated capital gains distributions for 2024, which they will issue to investors in December. This year has been a strong one for stocks, with the S & P 500 up more than 25%, and double-digit distributions from some mutual funds are on deck. See below for a few funds that are expected to spin out double-digit capital gains distributions this year, per Morningstar. If your losses exceed your capital gains, you can also apply up to $3,000 of them toward ordinary income on your federal return.

Persons: Morgan, Stephen Welch, Welch Organizations: Institutional Fund

☆ Video appears to show a Ukrainian Leopard tank taking out a column of Russian armored vehicles
▼ + stars: | 2024-11-14 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

AdvertisementUkraine released a video showing an attack on a Russian armored convoy. The brigade said a Leopard 2 tank and other weaponry destroyed tanks and other vehicles. New video footage released by Ukraine shows a Leopard 2 tank attacking a column of armored Russian vehicles. The crew of the Leopard tank smash a column of Russian armored vehicles to pieces. According to the New Voice of Ukraine, the 33rd brigade is fighting in the major hotspot of Kurakhove, in Ukraine's Donetsk Oblast.

Persons: hasn't, zFsDVqOipR, 🐈🇺 Organizations: Ukraine's, Mechanized Brigade, 33rd Brigade Locations: Ukraine, Russian, Russia, Kherson

☆ EU fines Meta €797 million over abusive practices benefiting Facebook Marketplace
▼ + stars: | 2024-11-14 | by ( ) www.cnbc.com time to read: +2 min

Meta, the parent company of social networking site Facebook, has faced calls to do more about financial scams on its platforms. The European Commission on Thursday fined Meta Platforms €797.72 million ($840.24 million) over abusive practices benefiting Facebook Marketplace, it said in a statement, confirming an earlier report by Reuters. "The European Commission has fined Meta ... for breaching EU antitrust rules by tying its online classified ads service Facebook Marketplace to its personal social network Facebook and by imposing unfair trading conditions on other online classified ads service providers," the European Commission said. The move by the European Commission comes two years after it accused the U.S. tech giant of giving its classified ads service Facebook Marketplace an unfair advantage by bundling the two services together. The EU decision argues that Meta imposes Facebook Marketplace on people who use Facebook in an illegal "tie" but Meta said that argument ignores the fact that Facebook users can choose whether to engage with Marketplace, and many do not.

Persons: Meta Organizations: Facebook, European, Reuters, European Commission, Meta, European Union Locations: U.S

☆ Europe fines Meta $840 million over practices benefiting Facebook Marketplace
▼ + stars: | 2024-11-14 | by ( ) edition.cnn.com time to read: +1 min

The European Union has fined Meta Platforms €798 million ($840 million) over what it called abusive practices benefiting Facebook Marketplace. “The European Commission has fined Meta … for breaching EU antitrust rules by tying its online classified ads service Facebook Marketplace to its personal social network Facebook and by imposing unfair trading conditions on other online classified ads service providers,” the EU’s executive arm said in a statement. Meta (META) said it will appeal the decision, but in the meantime, it will comply and will work quickly and constructively to launch a solution that addresses the points raised. The move by the European Commission comes two years after it accused the US tech giant of giving its classified ads service Facebook Marketplace an unfair advantage by bundling the two services together. The EU decision argues that Meta imposes Facebook Marketplace on people who use Facebook in an illegal “tie” but Meta said that argument ignores the fact that Facebook users can choose whether to engage with Marketplace, and many do not.

Persons: Meta …, Meta Organizations: European Union, Facebook, European Commission

☆ Embattled fashion house Burberry reveals massive overhaul sending shares to an all-time high
▼ + stars: | 2024-11-14 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Analysts responded positively to the news, pointing to a potential "turning point" for the embattled brand. The plans were delivered alongside Burberry's 2024 interim results, which saw sales fall 20% for the second consecutive quarter. A 'turning point' for embattled BurberryThe underperformance comes amid a wider slowdown in the luxury sector, with the personal luxury goods market set to contract 2% this year. Mamta Valechha, consumer discretionary analyst at Quilter Cheviot, described it as a "turning point in what has been a very difficult period." Pedestrians walk past the window display of the store of British fashion label Burberry, in central London, on September 2, 2024.

Persons: Kevin Lee, Schulman, Joshua Schulman, Michael Kors, Burberry, Burberry Schulman, Burberry's, Piral Dadhania, Dadhania, Mamta, Cheviot, Henry Nicholls Organizations: Getty, Burberry, RBC Capital Markets, Afp Locations: Shanghai, London

☆ I stayed in a 540-square-foot luxury tent at the edge of Africa's Serengeti National Park. The lodge was stunning, but the safari perks were the real highlight.
▼ + stars: | 2024-11-14 | by ( Monica Humphries | ) www.businessinsider.com time to read: +9 min

At the edge of Serengeti National Park sits TAASA, a luxury safari lodge. The lodge sits near three ecosystems: the Serengeti National Park, the Maasai Mara National Reserve, and the Ngorongoro Conservation Area. A pair of zebras and a lion in the Serengeti National Park in Tanzania. In Serengeti National Park, night game drives aren't permitted. I whispered the words to myself on game drives and woke up to the lyrics in my mind some mornings.

Persons: —, Jambo, Habari, Mzuri sana, TAASA's, May Simon, Simon, TAASA, Monica Humphries, Mikindo, Logolie Milya, Sam, Milya Organizations: Service, Toyota, Cruiser, Business, Mara, Reserve, Rovers Locations: TAASA, Tanzania's Lobo, Lodge, Ngorongoro, Tanzania, Ololosokwan

☆ Elon Musk is a showman, not an accountant
▼ + stars: | 2024-11-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

The merch will be 🔥🔥🔥”If you need more evidence of how silly this whole thing is, note (as many commentators did online) that the efficiency department is being overseen by two people. On the campaign trail last month, Musk was asked how much he thought he could cut from the nation’s $6.5 trillion budget. Musk would be lucky to find $200 billion in the federal budget, former Treasury Secretary Larry Summers said at the Economic Club of New York on Tuesday. Even Trump joked to House Republicans on Wednesday that he can’t get rid of Musk, a source in the room told CNN. And that means Musk himself, as Tesla’s largest individual shareholder, is $55 billion richer today than he was a week ago.

Persons: Donald Trump, Elon Musk, ”, he’s, Vivek Ramaswamy, ” Trump, Elon, Vivek, Trump, Musk, ments on Organizations: New, New York CNN, bro, “ Department, Government, Ford, United Airlines, Republican Congress Locations: New York, le

Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. This time around, Trump's tariff proposals on Chinese imports could help Amazon in its competition against low-price online sellers Temu and Shein. Salesforce : Not a Trump stock, but it wasn't a Kamala Harris stock either. Constellation Brands : The Mexican beer importer has been punished on fears about what Trump's tariff and immigration proposals could do to its business. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jim, Donald Trump's, Trump's, Abbott, Trump, Hock Tan, Tan, We'll, it's pricier, Morgan Stanley, Wells, Kamala Harris, Agentforce, That's, Biden, Dover, Eaton's, Elon, Waymo, JD Vance, we've, Linde, that's, Eli Lilly, Robert F, Kennedy Jr, Kennedy, Lilly, Mark Zuckerberg, Zuckerberg, Goldman Sachs, shouldn't, Nextracker, Brian Niccol, Niccol, Stanley Black, Decker, TJ Maxx, Wells Fargo, Jim Cramer Organizations: Jim Cramer's Charitable Trust, CNBC, Abbott Laboratories, Abbott Labs, White, Biden, AMD, Trump, Wednesday, Broadcom, VMWare, BlackRock, Costco, Coterra Energy, Coterra, DuPont, Disney, GE Healthcare, GE Aerospace, Google, Honeywell, Elliott Investment Management, Linde, Microsoft, Big Tech, Apple, Meta, Financial Times, Nvidia, Palo Alto Networks, Yum Brands, Taco Bell, Constellation Brands, Management, TJX, Marshalls, Jim Cramer's Charitable Locations: China, India, Missouri, Wells Fargo, BlackRock, Shanghai, Dover, U.S, Palo, HomeGoods

☆ Eva Longoria opens up about choosing to live abroad
▼ + stars: | 2024-11-14 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +1 min

CNN —Eva Longoria has chosen to live her life outside of the US. For years, her family has primarily lived outside of Hollywood and now split their time between Spain and Mexico, according to the publication. Longoria said she has increasingly felt like the US is “a scary place” and that she feels it will continue to be following the results of the presidential election. She acknowledged that she is “privileged” to be able to provide an escape abroad for herself and her family. “I would like to think our fight continues,” she said of her work with the Democratic party.

Persons: CNN — Eva Longoria, Marie Claire, José Bastón, Santiago, Longoria, “ They’re, Harris, Walz, “, ” Organizations: CNN, Democratic, Women Locations: Angeles, Hollywood, Spain, Mexico, Texas

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