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OpenAI's $6.6 billion funding raise attracted some big names across the industry. The $6.6 billion round gave OpenAI a $157 billion post-money valuation and minted it into one of the most valuable startups in the world. MicrosoftMicrosoft invested a little under $1 billion into OpenAI's latest funding round, according to The Wall Street Journal report. FidelityFidelity also participated in OpenAI's latest funding round. AdvertisementAltimeter Capital ManagementAltimeter Capital Management also contributed to OpenAI's latest funding round, according to reports.
Persons: , Sam Altman, OpenAI, Here's, Anderson Cooper, Josh Kushner, Instagram, Kushner, Altman, josh, SoftBank, Masayoshi Son, Son, Marco Bello, Wood, Morningstar, Bing, Jensen Huang, Sam Yeh, Elon Musk's, Brad Gerstner, Gerstner, Vinod Khosla, Vaughn Ridley, Khosla, MGX Organizations: Service, Allen & Company Sun Valley Conference, Getty, Capital, Business, VC, Wall Street, Reuters, Vision Fund, Venture, ARK Invest, ARK Venture Fund, SpaceX, Microsoft Microsoft, Wall, Rival Apple, Microsoft, Nvidia Nvidia, Nvidia, Tiger Global Management, Fidelity Fidelity, Elon, Elon Musk's xAI, Fidelity, Capital Management, . Khosla, Getty Khosla Ventures, Sun Microsystems, United Arab, Bloomberg Locations: OpenAI, Silicon Valley, OpenAI ., Tokyo, Saudi, ARK, AFP, IPOs, America, United Arab Emirates
Several major banks, including Capital One 360, Ally, and BMO Alto, responded by dropping their high-yield savings account rates. It's not as easy to find 5% interest savings accounts as it was before the Fed meeting. However, there are ways you can navigate savings rate declines to keep earning a high interest rate for a bit longer. Savings account interest rate dropsIf you're using a major online bank to earn a high interest rate on your savings account, you might be disappointed by the recent Fed interest rate cuts. Capital One 360 Performance Savings fell from 4.25% APY to 4.10% (rate as of 9/27/24) APY, while Ally lowered its savings account rate from 4.20% to 4.00% APY.
Persons: , Ally didn't, Ally, Marcus, Goldman Sachs, Pibank, we've, you'll, Kit Pulliam, They’ve, Kit Organizations: Fed, BMO Alto, Federal Reserve, Capital, BMO, CIBC USA, Navy Federal Credit Union, Pibank Savings, Pulliam, Business, Tax, MSN, Vanderbilt University
London CNN —A medallion containing some of the original mold involved in the discovery of penicillin is expected to fetch up to $50,000 when it goes up for auction later this month. The mold medallion will be auctioned by Bonhams later this month. Bonhams“The cultures were contaminated by an airborne mold and before disposing of the cultures, he noticed that the mold had prevented normal growth by the staph,” it adds. It is expected to fetch $30,000-$50,000 in an online auction that runs from October 13 to 23. Penicillin changed the course of modern medicine, with antibiotics key to the decline of many diseases over the course of the 20th century.
Persons: Scottish bacteriologist Alexander Fleming, Bonhams, , Fleming, Alexander Fleming, , Pope Pius XII , Queen Elizabeth II, Prince Philip, Marlene Dietrich, Winston Churchill, Theodore Roosevelt, underdose, Katie Hunt Organizations: London CNN Locations: London, Scottish, United Kingdom, United States
(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for Pro subscribers. Worldwide Exchange airs at 5 a.m. "The fixed income market has enough yield to bail you out if the geopolitical tensions get worse," said Hyman said on Worldwide Exchange. "Investors are not focusing on the likely U.S. response post election to replenishing defense stocks and ramping up capabilities." Worldwide Exchange Pick: Biotech Stocks Scott Ladner of Horizon Investments is seeing opportunities in the biotech sector, specifically the iShares Biotechnology ETF (IBB) and SPDR S & P Biotech (XBI) ETFs.
Persons: Simeon Hyman, Hyman, Terry Haines, Haines, Lockheed Martin, Scott Ladner, Ladner Organizations: Pro, Worldwide, Proshares Advisors, Defense, Lockheed, Raytheon, Biotech, Horizon Investments, iShares Biotechnology, P Biotech, Shipping Stocks Shipping, U.S Locations: Israel, Iran, Ukraine, South China, U.S, East, Gulf Coast
US Navy destroyers fired interceptors to defend Israel from Iran's ballistic missile attack Tuesday. A new video shows one of the destroyers — USS Bulkeley — launching its interceptors. AdvertisementNew video footage shared by the US Navy shows an American destroyer firing interceptors to engage the Iranian ballistic missiles launched at Israel on Tuesday. The ships involved in Tuesday's engagement were USS Cole and USS Bulkeley. AdvertisementThe guided-missile destroyer USS Bulkeley, which played a role in shooting down Iranian missiles that were fired at Israel on Tuesday.
Persons: Bulkeley, , Bill Urban, Cole, USS Bulkeley, Urban, Hassan Nasrallah, Ismail Haniyeh, Daniel Hagari, Jake Sullivan, Pat Ryder, Zac Shea, Kamala Harris, Israel — Organizations: Navy, Service, US Navy, Israel, US Naval Forces, Combat, Business, . White, National, Pentagon, American Locations: US Naval Forces Europe, Africa, Israel, Iran, Tehran, Iranian
A Trump win would benefit energy and financial stocks the most, RBC analysts say. The analysts see a Trump win as overall bullish for equities, with a Harris win more bearish. AdvertisementA Donald Trump win in November could be the best outcome for stocks, and two sectors in particular would benefit the most, according to RBC Capital Markets. Those sectors would see the most upside from a Trump win, especially if Republicans take both the White House and Congress, the analysts say. EnergyThe analysts say Trump's policies favor domestic fossil fuel production, since they aim to reduce regulatory requirements, which would lower costs.
Persons: Harris, , Donald Trump, Donald Trump's, Financials, Kamala Harris, Trump, fracking, Janet Yellen Organizations: Trump, RBC, Service, RBC Capital Markets, White House, Congress, Energy, Republican, Democratic, Biden
Pedestrians walk past food stalls and shops in the Myeongdong shopping district of Seoul on March 26, 2024. South Korea's consumer inflation cooled more than forecast in September and below the central bank's target for the first time since early 2021, amid growing expectations of an imminent policy easing. The consumer price index rose 1.6% in September from a year earlier, after a rise of 1.9% in August, data from Statistics Korea showed on Wednesday. It was weaker than a median 1.9% increase tipped in a Reuters poll of economists and marked the weakest annual increase since February 2021. The reading was below the Bank of Korea's medium-term target of 2% and comes amid growing talk among policymakers and market participants about an imminent interest rate cut with the next policy meeting scheduled for Oct. 11.
Organizations: Statistics Korea, Bank of Locations: Seoul
When he was 15, he and his dad devised an ingenious plan to attract the attention of a potential boss. They made breakfast snacks to hand out with his résumé outside plumbers' merchants. Plumbing offers job stabilityI've always been handy and was also thinking about carpentry, bricklaying, or becoming an electrician. So, in April of that year, when I was still 15, I brainstormed with my dad about how to get a job. Every night for a week, Dad and I prepared giant-size pigs in a blanket.
Persons: Z'er Teddy Sheehan, , Teddy Sheehan, I've, I'd, Sheehan, We'd Organizations: Service, Plumbing, Business Locations: plumbers, Birmingham, England
Tesla reported third-quarter sales on Wednesday. AdvertisementTesla reported third-quarter sales of 462,890 on Wednesday morning, its first quarter-over-quarter gains this year. Analysts had expected 462,000 vehicle deliveries for the period ending September 30. AdvertisementStill, Tesla will have to make monumental increases in the final three months of the year to put 2024's figures ahead of the previous year,Reversing the sales slowdown at Tesla is a much-needed win for Musk's car company. AdvertisementAnd as new vehicle sales fall regardless of powertrain, Musk has touted autonomy as the latest driver of Tesla's growth story and one that investors should pay more attention to than sales.
Persons: Tesla, , Elon Musk, Dan Ives Organizations: Global EV, Service Locations: Wedbush
The Energy Select Sector SPDR ETF (XLE) was the worst performing sector ETF in September. The XLE ETF (and many of its holdings) has been trying to etch out a bottom for a number of weeks, and the charts we're reviewing today suggest that momentum finally could be turning positive. XLE has been making lower lows and lower highs since peaking in March. Both prior times, eventually logging a higher low gave XLE the firepower it needed to finally punch through a key downtrend line. Recently, the higher lows have been marginal, but considering that we haven't seen a material lower low in nearly five years, it's noteworthy.
Persons: it's, XLE, It's, XLE's downtrend, We've, Said, we're, Frank Cappelleri Organizations: CNBC, NBC UNIVERSAL
Michael Jordan, NBA Hall of Famer and co-owner of 23XI Racing looks on during the NASCAR Cup Series FireKeepers Casino 400 at Michigan International Speedway on August 18, 2024 in Brooklyn, Michigan. 23XI Racing was founded in 2020 by NBA legend Jordan, driver Denny Hamlin and Jordan's longtime business partner, Curtis Polk. Michael Jordan's NASCAR team, 23XI Racing, and fellow team Front Row Motorsports filed an antitrust lawsuit against NASCAR and CEO Jim France on Wednesday, arguing that they have used anticompetitive practices to prevent fair competition in the sport. Jordan, a longtime racing fan, is the first Black majority owner of a full-time racing team in the NASCAR series since legendary driver Wendell Scott. "Everyone knows that I have always been a fierce competitor, and that will to win is what drives me and the entire 23XI team each and every week out on the track.
Persons: Michael Jordan, 23XI, Jordan, Denny Hamlin, Curtis Polk, Bob Jenkins, Michael Jordan's, Jim France, Tyler Reddick, Jenkins, he's, Jeff Gordon, Wendell Scott Organizations: Hall of Famer, 23XI, NASCAR, Michigan International Speedway, Michael Jordan's NASCAR, Row Motorsports, Deck Toyota, Cook, Darlington Raceway, SC, Fox, NBC, Amazon, Warner Bros, Hendrick Motorsports Locations: Brooklyn , Michigan, France, Darlington, North America
CNN —The NASA team overseeing the iconic Voyager 2 spacecraft made the decision to power down one of its science instruments in an effort to conserve energy. Despite the aging probe’s emptying power stores, NASA expects that Voyager 2 will keep operating with at least one science instrument into the 2030s. Voyager 2 has three radioisotope thermoelectric generators that power the spacecraft by converting heat emitted by the decaying plutonium into electricity. But turning off a piece of equipment on Voyager 2 or Voyager 1 — an identical spacecraft launched 16 days after its twin — is not ideal, NASA noted. After reaching beyond the heliosphere, or interstellar space, Voyager 2 has “collected limited data in recent years due to its orientation relative to the direction that plasma is flowing,” NASA said.
Persons: Organizations: CNN, NASA, ., Space,
Ray Dalio is again promoting the idea that China urgently needs to start a "beautiful deleveraging." In a LinkedIn post on Tuesday, Dalio wrote of what he called a "beautiful deleveraging," or an aggressive, two-pronged approach to solving debt issues. Dalio wrote that Chinese leader Xi Jinping's unprecedented stimulus sparked a "big week" for economic optimism, but it won't be enough. The interest rate cuts would ideally be so drastic that they run below inflation and nominal growth rates, Dalio wrote. If Beijing doesn't start a "beautiful deleveraging," he said, it risks allowing its crisis to drag on and create an "economic and psychological malaise like Japan experienced."
Persons: Ray Dalio, Dalio, , Xi, They'll Organizations: Service, Bridgewater Associates, Washington Locations: China, Beijing, Japan, US
Tim Walz said during the VP debate that help from family members should not be the solution to childcare. JD Vance previously suggested that grandparents help out more to solve the childcare crisis. Tim Walz took the debate stage in New York to discuss a range of topics, including healthcare, housing, and the economy. AdvertisementHis comments sparked criticism from grandparents and childcare workers who argued that relying on family members for childcare is not feasible. We should have a family care model that makes choice possible," he said.
Persons: Tim Walz, JD Vance, Vance, , Sen, Walz, " Walz, Charlie Kirk, Taylor Van Kirk, Renne Bock, " Bock Organizations: Service, Gov, Business Locations: New York
Living alone as a college student taught me how to be independent and build community. However, when the pandemic moved classes online in the middle of my freshman year, I moved back in with my parents to attend a local community college. But I'm now moving in with a roommate for my last year of collegeI loved living alone, but it isn't for everyone. I had to make a tough decision: Do I want to spend my last year in college working harder than ever to pay rent? In two months, I'm moving into an apartment with my friend that is closer to campus and almost $200 less in rent.
Persons: , weren't, I'm, Alex Klaus Organizations: Service, Central Michigan University, Wayne State University, Connect, LinkedIn Locations: Detroit, Detroit , Michigan
Hannah and Nick are one couple who make it out of the pods to the group vacation in Mexico. AdvertisementWarning: Spoilers ahead through episode six of "Love Is Blind" season seven. While Hannah continues to date Nick and Leo, Nick tells her that he loves her first, and she reciprocates. AdvertisementHannah and Nick still follow each other on InstagramRight now, it's unclear if Hannah and Nick are still together. The next episodes of "Love Is Blind" season seven will air on Wednesday, October 9 on Netflix.
Persons: Hannah, Nick, , they're, Leo, Hannah rebuffing, Nick doesn't, TikTok, didn't Organizations: Service, Netflix Locations: Washington, D.C, Mexico, Japan
Tesla — Shares declined about 4% after the electric vehicle company fell short of third-quarter delivery estimates . Chinese stocks — Chinese stocks continued to rally on the back of sweeping stimulus measures in the country. Lamb Weston Holdings — Shares of the french fry giant rose more than 2% after its fiscal first quarter topped estimates. Analysts surveyed by LSEG expected 72 cents per share in earnings and $1.56 billion in revenue. The company posted revenue of $2.79 billion, versus a FactSet estimate of $2.84 billion.
Persons: Humana, That's, JD.com, Davidson, Lamb, Lamb Weston, LSEG, CNBC's Lisa Han, Yun Li, Jesse Pound, Michelle Fox, Sean Conlon Organizations: Nike, Exchange, KraneShares CSI China Internet, Baird, Lamb Weston Holdings —, Barclays, Endeavor Energy Resources, Conagra
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBeyonce is a fashion icon, this is going to be a really powerful partnership, says Levi Strauss CEOLevi Strauss President and CEO Michelle Gass joins 'Mad Money' host Jim Cramer to talk the strategic review of Dockers, quarterly results, consumer trends and more.
Persons: Levi Strauss, Michelle Gass, Jim Cramer Organizations: Dockers
Google leaders tried to assuage fears that it will follow Amazon's new strict RTO mandate. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . It also raised concern among employees at some of Amazon's more hybrid-friendly rivals, including Google, where staff are expected in the office just three days a week. 'Google chases the industry'Despite leadership's comments, some employees still fear they will eventually be called back to the office full time. During the most recent all-hands, Pichai noted that some employees, such as some of Google's hardware teams, are back four days a week.
Persons: Sundar Pichai, , assuaging, John Casey, they're, Pichai, Casey, Dell, Kirk Van Houten Organizations: Service, Google, Amazon, Microsoft Locations: Nature
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. US Secretary of Defense: A broader Middle East war could tip global economies into recessionWilliam Cohen, former U.S. secretary of defense, joins CNBC's 'Money Movers' to discuss the aftermath of Iran's attack on Israel, economic implications of a potentially broader war, and more.
Persons: William Cohen Organizations: of Defense Locations: U.S, Israel
Goldman Sachs discusses the impact of China's stimulus measures
  + stars: | 2024-10-02 | 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 EmailGoldman Sachs discusses the impact of China's stimulus measuresMichelle Cheng, co-head of Asia consumer research and managing director at Goldman Sachs, says there's still "limited upside" on earnings, adding that there needs to be more policy execution and a restoration of consumer confidence.
Persons: Goldman Sachs, Michelle Cheng, there's Locations: Asia
CNN —The Federal Aviation Administration says that graduates of two college air traffic control programs can now bypass the agency’s backlogged training academy. The new announcement is the FAA’s latest move to tackle air traffic controller shortages that have plagued the air travel system, triggering flight delays and a burned-out controller corps. “The FAA is working to hire and train more air traffic controllers, in order to reverse the decades-long decline in our workforce and ensure the safety of the flying public,” FAA Administrator Mike Whitaker said in a statement. Graduates of Tulsa Community College and the University of Oklahoma can “begin immediate facility training,” skipping the FAA Air Traffic Controller Academy at Oklahoma City. CNN previously reported in May that the agency netted an increase of only 160 controllers during a recent hiring cycle.
Persons: Mike Whitaker, Organizations: CNN, Federal Aviation Administration, FAA, Tulsa Community College, University of Oklahoma, FAA Air Traffic Controller Academy, Oklahoma City
Pires applied strategies from the course to enhance content creators' business models in Brazil. She designed The Business of Entertainment, Media, and Sports course in 2013 and is a rock star in the entertainment industry. AdvertisementIt's a four-day course for professionals not enrolled at Harvard Business SchoolThe course costs $12,500, which includes all accommodation and meals, and it's worth every cent. This was relevant to my work with gamers and content creators. Have you taken a business course that changed the trajectory of your career?
Persons: Manuelle Pires, Anita Elberse, Pires, , Nobru, I've, There's, Anita, He's, he's, Lionel Messi, David Beckham, Karim R, Lakhani, Kristin W, I'm, Lauryn Haas Organizations: Harvard, Service, YouTube, UCLA, Entertainment, Media, Harvard Business School, Google, UFC, lhaas Locations: Brazil, São Paulo, YouTube Brazil, Harvard, Boston
Eli Lilly will spend $4.5 billion to build a center aimed at finding better ways to manufacture its medicines. The facility, called the Lilly Medicine Foundry, will house development of new manufacturing methods with an eye toward efficiency. It's a strategy that's already paying off with Lilly's obesity and weight loss drugs Mounjaro and Zepbound, and Lilly wants it to propel the rest of its pipeline. Lilly says the facility will be the first of its kind to combine research and production in a single location. It will be near a $9 billion manufacturing complex Lilly is building in Lebanon, Indiana, to produce pharmaceutical ingredients like tirzepatide, the active ingredient in Mounjaro and Zepbound.
Persons: Eli Lilly, Mounjaro, Lilly, David Ricks, , Dan Skovronsky Organizations: Lilly, Foundry, Indianapolis, Novo Nordisk's Ozempic Locations: Indianapolis, Lebanon , Indiana, tirzepatide
AdvertisementThe old F-16 models that Ukraine's allies are giving it are no match for Russia's best jets, a former US general told Business Insider. The F-16s, which Ukraine has started receiving from its allies, are the most advanced aircraft Ukraine now has in its arsenal and are armed with more powerful bombs and missiles. AdvertisementDavis said Ukraine's F-16s "are making a difference now" and said when more arrive, that "will help them make more of a difference." All of them pose a threat to Ukraine's F-16s, Davis said, along with Russia's formidable batteries of surface-to-air missiles. Related storiesThe Wall Street Journal reported in August that many of Ukraine's F-16s "are secondhand and have decades of flying time already."
Persons: , Gordon, Skip, Davis, Ukraine's, Volodymyr Zelenskyi, Vitalii, Michael Bohnert, Josh Rosales Ukaine's, David, Volodymyr Zelenskyy, they'd, we're Organizations: NATO, Service, Business, US Army, Defense Investment Division, Getty, SU, Air Missiles, Street, RAND Corporation, Air Force, US Air Force, Tech, Aircraft, Russian Defense Ministry, Anadolu Agency, Air, Ukrainian Air Forces, REUTERS Locations: Russian, Ukraine, Russia, South Korea, of Mexico, Brest, Belarus, Valentyn, Denmark, Norway, Belgium, Netherlands
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