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☆ Paramount pops on reports of a merger deal with Skydance
▼ + stars: | 2024-07-03 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailParamount pops on reports of a merger deal with SkydanceParamount pops on reports of a merger deal with Skydance. Shareholder Jim Lebenthal weighs in.

Persons: Jim Lebenthal Organizations: Paramount, Skydance

☆ Lower gas prices 'benefit the psyche of the American consumer,' says GasBuddy's Patrick De Haan
▼ + stars: | 2024-07-03 | 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 EmailLower gas prices 'benefit the psyche of the American consumer,' says GasBuddy's Patrick De HaanPatrick De Haan, GasBuddy head of petroleum analysis, joins CNBC's 'Squawk Box' to discuss outlooks on gas prices ahead of the holiday, factors impacting lower prices, and more.

Persons: GasBuddy's Patrick De Haan Patrick De Haan, GasBuddy

☆ Withdrawal of NFP election candidates a clear decision to prevent RN victory, says NFP MP
▼ + stars: | 2024-07-03 | 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 EmailWithdrawal of NFP election candidates a clear decision to prevent RN victory, says NFP MPNathalie Oziol, a lawmaker for La France Insoumise, discusses National Rally's success in the first round of the French elections, and explains what her party, part of the NFP, will do to prevent a far-right majority.

Persons: Nathalie Oziol Organizations: La France Insoumise, NFP

☆ An influential Democratic donor says Biden has 'misplaced trust' in a 'cabal' of 3 top aides
▼ + stars: | 2024-07-03 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

Read previewDemocratic megadonor John Morgan has joined the camp of people pointing fingers at President Joe Biden's top aides for his poor debate performance. That group includes Biden's senior advisor, Anita Dunn; her husband, Bob Bauer, Biden's personal attorney; and Biden's former chief of staff, Ron Klain. This story is available exclusively to Business Insider subscribers. AdvertisementAnother longtime Democratic donor, Whitney Tilson, said in a Saturday post on X that he felt "deceived" by Biden's performance. Morgan and representatives for Biden didn't immediately respond to requests for comment from Business Insider sent outside regular business hours.

Persons: —, John Morgan, Joe Biden's, Morgan, Anita Dunn, Bob Bauer, Ron Klain, Biden, @katierogers — John Morgan, Harris, Trump, Whitney Tilson, Joe Biden, Tilson, Biden didn't Organizations: Service, Politico, Business, CNN, Biden, Bloomberg, Democratic, Trump, Business Insider

☆ U.S. Allies See a Worrisome Turn in Presidential Immunity Ruling
▼ + stars: | 2024-07-03 | by ( Motoko Rich | ) www.nytimes.com time to read: +1 min

Allies of the United States had already been looking at the country’s upcoming election with anxiety. Now, with the United States Supreme Court granting an unprecedented expansion of executive power by giving presidents legal immunity, analysts in some of those countries are even more concerned about the reliability of American power. “We cannot maintain a stable national security relationship.”Mr. Komamura added that the Supreme Court’s decision now gave the perception of an American president who can operate above the law. “This may be rude to the U.S., but it is not that different from Xi Jinping in China,” he said. “The rule of law has become the rule of power.”

Persons: ”, Keigo Komamura, ” Mr, Komamura, Xi Organizations: United States, Keio University Locations: United States, Asia, Europe, Russia, North Korea, China, U.S, Tokyo

☆ China's BYD is set to take Tesla's crown as the world's No. 1 producer of battery electric vehicles
▼ + stars: | 2024-07-03 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Chinese electric vehicle maker BYD is on track to overtake Tesla in battery electric vehicle sales this year, with its BEV market share expected to surge, according to a Counterpoint Research report. "This shift underscores the dynamic nature of the global EV market," Counterpoint analysts said in the report released Tuesday. BYD's second-quarter battery EV sales jumped nearly 21% year on year to 426,039 units, according to CNBC's calculations. Counterpoint said China "remains a dominant force in the BEV market" with BYD leading the way. China's BEV sales are estimated to be four times that of North America's in 2024, the research firm said.

Persons: BEV, BYD's, BYD, Tesla, China's BEV Organizations: Research, U.S, EV Locations: Munich, Germany, China, North America's

☆ Watch CNBC's full interview with Marathon CEO Bruce Richards
▼ + stars: | 2024-07-03 | 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 EmailWatch CNBC's full interview with Marathon CEO Bruce RichardsBruce Richards, Marathon Asset Management CEO, joins 'Money Movers' to discuss the Fed, Webster Bank deal, private credit, and more.

Persons: Bruce Richards Bruce Richards Organizations: Marathon, Marathon Asset Management, Webster Bank

☆ Oil prices hold firm as traders wait on U.S. stockpile data for signs of where demand is heading
▼ + stars: | 2024-07-03 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Crude oil futures held firm on Wednesday as traders waited for the latest round of U.S. inventory data for signs of whether gasoline demand is picking up. U.S. crude oil gained about 6% last month on expectations of a tighter third quarter with stockpiles forecast to draw down as summer fuel demand picked up. The Department of Energy will release the latest U.S. crude oil and gasoline stockpiles data at 10:30 a.m. Here are today's energy prices:Hurricane Beryl is barreling across the Caribbean and could hit the Texas Gulf Coast as a tropical storm on Saturday. "We used to think about hurricanes as unquestionably a potential bullish near-term development for oil markets, now the picture is not so clear," Croft told CNBC's "Last Call" on Tuesday evening.

Persons: Beryl, Helima Croft, Croft, CNBC's Organizations: Department, Energy, AAA, Texas Gulf, National Hurricane, RBC Capital Markets Locations: Caribbean, Texas Gulf Coast, U.S

☆ We're taking profits in this beer maker and buying more of our newest stock
▼ + stars: | 2024-07-03 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Constellation Brands shares are getting a boost in pre-market trading Wednesday after reporting its first-quarter results. As we called out in our initial trade alert, Nextracker is a highly volatile name that is sensitive to interest rates and government policy. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Jim Cramer's, We've, Donald Trump, Jim Cramer, Jim Organizations: Constellation Brands, NXT, Constellation Beer, Susquehanna, Meta, Microsoft, Google, Jim Cramer's Charitable, CNBC Locations: Nextracker, United States

☆ Eddie Murphy improvised one of the funniest lines in 'Beverly Hills Cop: Axel F' in a scene with his real-life daughter
▼ + stars: | 2024-07-03 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +1 min

One of Eddie Murphy's funniest lines in "Beverly Hills Cop: Axel F" was improvised. In the scene, Murphy's daughter Bria plays a police officer who arrests him. Director Mark Molloy told Business Insider that Murphy's improv skills enhanced the movie's humor. AdvertisementNetflix's "Beverly Hills Cop: Axel F" is filled with laughs, but there's one joke in particular that was a family affair. This story is available exclusively to Business Insider subscribers.

Persons: Eddie Murphy's, Axel F, Murphy's, Bria, Mark Molloy, —, Axel Foley, Foley Organizations: Service, Business Locations: Beverly

☆ A Family Loses 3 Generations of Women in India Crowd’s Panic
▼ + stars: | 2024-07-03 | by ( Suhasini Raj | Saumya Khandelwal | ) www.nytimes.com time to read: 1 min

Vinod Kumar was away from home on Tuesday, as he usually is for days at a time in search of masonry work, when he got the dreadful call. All the women in his family, three generations of them, were dead, crushed in a stampede. For the rest of the day, Mr. Kumar and his three sons went from hospital to hospital searching for their loved ones among the bodies of the 121 people who had died when a large gathering of a spiritual guru broke into deadly panic. “Why did you leave me just like that? Who will scold the children now and push them to go to school?” Mr. Kumar wailed at the feet of his wife.

Persons: Vinod Kumar, Kumar, Raj Kumari, Bhumi, Mr, Kumar wailed Locations: Hathras

☆ Israel and Hamas appear on brink of framework agreement for ceasefire and hostage deal, Israeli source says
▼ + stars: | 2024-07-03 | by ( Jeremy Diamond | ) edition.cnn.com time to read: +2 min

Jerusalem CNN —Israeli officials believe Hamas’ latest response will enable the two parties to enter detailed negotiations to reach an agreement, the source said. Israel and Hamas appear to be on the brink of a framework agreement for a ceasefire and hostage release deal, an Israeli source familiar with the negotiations said. Hamas has confirmed that they passed their response on an Israeli proposal to mediators Qatar and Egypt, repeating their demand for a complete ceasefire. “We have put forward some demands that achieve securing access to a complete ceasefire and the withdrawal of Israeli forces,” Basem Naim, a member of Hamas’ political bureau, told CNN on Wednesday. “Israel is evaluating the remarks and will convey its reply to the mediators,” the Mossad statement said without providing any additional details.

Persons: Benjamin Netanyahu, Netanyahu, ” Basem Naim, ”, “, Abeer Salman, Ibrahim Dahman Organizations: Jerusalem CNN, Hamas, CNN, Wednesday Locations: Jerusalem, Israel, Qatar, Egypt, “ Israel

Southwest Airlines said Wednesday that it has adopted a shareholder rights plan, more commonly known as a "poison pill," in response to activist Elliott Management's investment in the airline and push to oust CEO Bob Jordan and Chairman Gary Kelly. The poison pill will only activate if Elliott — or another investor — acquires at least 12.5% of the company. "Southwest Airlines has made a good faith effort to engage constructively with Elliott Investment Management since its initial investment and remains open to any ideas for lasting value creation," Kelly said in a statement. Elliott and Southwest management met in person just two weeks ago, according to people familiar with the matter. Companies often adopt shareholder rights plans in response to an activist threat; rental car company Hertz adopted a poison pill in 2013 in response to "unusual" trading activity that management thought presaged an activist.

Persons: Elliott, Bob Jordan, Gary Kelly, Elliott —, —, Kelly, Hertz, Jordan, Morgan Stanley, Ellis Organizations: Southwest Airlines, Elliott Investment Management, Companies, Boeing, Southwest, Texas, Bank of America, & Locations: Southwest, Dallas, New York, West Palm Beach , Florida, Kirkland

☆ CEO of CVS shares her simple trick to tell whether you're oversharing at work: 'There's a fine line'
▼ + stars: | 2024-07-03 | by ( Ashton Jackson | ) www.cnbc.com time to read: +1 min

Karen Lynch, the CEO of CVS Health, has a tip for striking the right balance: Share whatever directly helps you solve a problem or connect with someone else. Early in her tenure, she ran a company-wide town hall urging managers to take mental health more seriously. In an unplanned moment, she shared something she'd never told another colleague before, she said: When she was 12, her mother committed suicide. She also felt ashamed, anxious and embarrassed about it, so she spent much of her career being strictly about business, she said. But midway through the town hall, with 50,000 employees listening, Lynch realized she could help her co-workers understand why she felt so strongly about mental health.

Persons: Karen Lynch, Lynch, LinkedIn's, she'd, She'd Organizations: CVS Health, Aetna

☆ Anant Ambani, Radhika Merchant wedding: Everything you need to know about India’s wedding of the year
▼ + stars: | 2024-07-03 | by ( Rhea Mogul | ) edition.cnn.com time to read: +11 min

Extravagant pre-wedding celebrations have already sent Indian media into a frenzy and social media feeds are abuzz over what’s to come. Anant Ambani and Radhika Merchant at their pre-wedding celebrations in Jamnagar, Gujarat, India on March 1, 2024. The Ambani pre-wedding celebrations had elaborate floral arrangements. Actor Ranveer Singh and his wife and actor Deepika Padukone pose for a photo during the pre-wedding celebrations earlier this year. Coordinating with Merchant, Ambani also wore a custom black suit designed by Wun, encrusted with jewels.

Persons: Anant Ambani, Radhika Merchant, Mark Zuckerberg, Bill Gates, partygoers, Katy Perry, Andrea Bocelli, Mukesh, Nita Ambani –, Reuters Ambani, Mukesh Ambani, Ambani, Anant, Viren Merchant, Nita, Manish Malhotra, ”, Merchant, “, Radhika, Mangal Utsav, Vishnu, Nita Ambani, Manish Malhotra Malhotra, Ranveer Singh, Deepika Padukone, Malhotra, Sabyasachi Mukherjee, Tarun Tahiliani, lehenga, Manish Malhotra Ambani’s, Rohit Bal, Lorraine Schwartz, Versace, Blake Lively, Robert Wun, ” Mareesha, Salman Khan, Ram Charan, Shah Rukh Khan, Aamir Khan, Narendra Modi, ” Parikh, Vanessa Almeida, Jamnagar Organizations: CNN, Backstreet Boys, Convention, Reliance Industries, Reuters, Bloomberg, Brown University, Reliance, pharma, Viren, Encore Healthcare, New York University, Vogue, sangeet, Sangeet, Merchant, All India Traders Locations: what’s, Jamnagar, Europe, Mumbai, Gujarat, India, Jamnagar ., Bharatnatyam, Agra, Uttar Pradesh, Hong Kong, Goa

☆ Here are Bank of America’s top long picks, and one short, for the third quarter
▼ + stars: | 2024-07-03 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

With the second half kicking off, Bank of America is noting its top long picks along with one short for the third quarter. The Dow Jones Industrial Average underperformed, however, moving 3.8% higher due to a pullback in the second quarter. The bank sees second quarter revenue coming in above Spotify's previous guidance, and other yardsticks such as premium subscribers at least matching company forecasts. Conversely, Bank of America named CarMax , another auto retailer, its short idea for the quarter. The firm's $50 price target implies nearly 30% downside from Monday's close.

Persons: BofA, Jessica Reif Ehrlich, Reif Ehrlich, Goldman Sachs, John Murphy, KMX Organizations: Bank of America, Nvidia, Nasdaq, Dow Jones, Bank of, Spotify, Seaport Research Partners, AutoNation, Union Pacific

☆ War-driven economy is so hot, Russia is now a 'high-income' country
▼ + stars: | 2024-07-03 | by ( Lilian Manansala | ) www.businessinsider.com time to read: 1 min

Since launching its war on Ukraine, Russia has seen a boost in its GDP large enough that the World Bank reclassified Russia from an upper-middle-income to a high-income country. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account?

Organizations: World Bank, Business Locations: Ukraine, Russia

☆ Opinion | Are We in the Middle of a Spiritual Awakening?
▼ + stars: | 2024-07-03 | by ( Jessica Grose | ) www.nytimes.com time to read: +1 min

When I asked readers who identified as spiritual but not religious to reach out to me, I was astounded by how much variety there was in the faith experiences of individuals in this group. Some said they found spirituality both in the beauty of the physical world and in communing with other people. “I found the 12-step program to be sort of a spirituality that worked for me,” a woman named Maggie who lives in the Northeast told me. (I’m not using her last name because one of the tenets of her 12-step program is anonymity.) She finds the 12-step program to be free of that kind of hypocrisy and appreciates the “bone-scraping honesty” of her fellow group members.

Persons: “, ”, Maggie, what’s Organizations: Northeast Locations: communing

☆ Fourth of July gas prices are set for a three-year low
▼ + stars: | 2024-07-03 | by ( Matt Egan | ) edition.cnn.com time to read: +1 min

GasBuddy projects the national average price for regular gas will stand at $3.49 a gallon on Independence Day. That’s a penny shy of the price a year ago and down sharply from $4.79 two years ago when oil prices spiked after Russia invaded Ukraine. Adjusted for inflation, US gas prices are almost exactly where they were in July 2018, according to federal data. The drop in gas prices comes despite what’s expected to be strong demand for fuel. Although gas prices are down from April, hurricane season could change that.

Persons: That’s, GasBuddy, what’s, Beryl — Organizations: CNN, Drivers, AAA Locations: Russia, Ukraine, Washington, Oregon, Utah, Colorado, Covid

☆ Is inflation Biden's or Trump's fault? The answer isn't so simple, economists say
▼ + stars: | 2024-07-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +8 min

"He caused the inflation," Trump said of Biden during the June 27 debate. "He decimated the economy, absolutely decimated the economy," Biden said. 'Neither Trump nor Biden is to blame'Global events beyond Trump's or Biden's control wreaked havoc on supply-and-demand dynamics in the U.S. economy, fueling higher prices, economists said. "In my view, neither Trump nor Biden is to blame for the high inflation," said Mark Zandi, chief economist at Moody's Analytics. For example, Trump imposed tariffs on imported steel, aluminum and several goods from China, which Biden largely kept intact.

Persons: Donald Trump, Joe Biden, Andrew Harnik, Trump, Biden, David Wessel, Mark Zandi, Mario Tama, Wessel, Zandi, Stephen Brown, —, Michael Strain, Strain Organizations: Getty, Federal Reserve, Biden, Trump, Hutchins, Brookings Institution, Finance, Social Security, Medicare, Moody's, Port, International Monetary Fund, North, Capital Economics, American, American Enterprise Institute, Federal, U.S Locations: Atlanta, U.S, Ukraine, China, Port of Los Angeles, San Pedro , California, North America, It's

☆ Vintage photos show what Coney Island's 4th of July celebrations used to look like
▼ + stars: | 2024-07-03 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +1 min

Coney Island has been a popular destination for the Fourth of July since the early 20th century. Nathan's Famous Hot Dog Eating Contest has been held on July 4 since the 1970s. Vintage photos of July 4 on Coney Island show crowded beaches and the annual hot-dog contest. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . From fireworks displays, parades, and live performances to the annual Nathan's Famous Hot Dog Eating Contest, Coney Island has been hosting Independence Day celebrations since the early 20th century.

Persons: — Organizations: Service, New, Business Locations: Coney

☆ AI data centers could add 3 New York Cities of demand to the power grid in 2 years
▼ + stars: | 2024-07-03 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

So far, the only part of Earth AI seems hell-bent on dominating is the power grid. AI data centers are doubling the pace of electricity demand growth in the US to the extent that demand could exceed supply in just two years without action, according to Bernstein Research. The potential shortfall could mean higher prices for the computing power AI developers of all sizes are clamoring for, along with ample opportunity for investors willing to build up supply. How are AI companies planning aheadIt's not just the total power needed for AI computing infrastructure, it's the unique cadence of the power need and the cooling AI chips require. Amazon is clearing some of these hurdles by colocating some data centers with nuclear power sites.

Persons: —, that's, catchup, Bernstein, Jensen Huang, Huang, Agrawal, we're, Andrew Feldman, Feldman Organizations: Service, Bernstein Research, Business, Nvidia, Vertiv, Lambda, Cerebras Systems Locations: UAE, South Africa, Kenya, Nigeria, Egypt, Iceland

☆ Fintech app customers locked out of bank accounts after middleman Synapse declares bankruptcy
▼ + stars: | 2024-07-03 | by ( Hugh Son | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFintech app customers locked out of bank accounts after middleman Synapse declares bankruptcyCNBC's Hugh Son reports on news from the fintech space.

Persons: Hugh Son Organizations: Synapse

☆ Israel Kills a Top Commander of Hezbollah, Which Replies With a Rocket Barrage
▼ + stars: | 2024-07-03 | by ( Euan Ward | Thomas Fuller | ) www.nytimes.com time to read: +1 min

Israeli forces killed a senior Hezbollah commander on Wednesday in a drone strike in southern Lebanon, prompting the Lebanese militia to retaliate with a heavy rocket barrage across the border. The flare-up came as Western diplomats worked to avoid a full-scale war between Israel and Hezbollah, a danger that appears to have grown in recent weeks. Cross-border exchanges of fire have intensified, and Israeli officials have publicly spoken of shifting their military focus from Hamas in the Gaza Strip to Hezbollah, a far more advanced and potent threat. Jean-Yves Le Drian, President Emmanuel Macron’s special envoy to Lebanon, was among the people with whom he met, according to a person close to the talks, who spoke on the condition of anonymity to discuss sensitive diplomacy. He said Mr. Nasser had led Hezbollah’s Aziz unit, one of the group’s main fighting forces along the Lebanese border.

Persons: Amos Hochstein, Jean, Yves Le Drian, Emmanuel Macron’s, Mohammad Naameh Nasser, Abu Naameh, Mr, Nasser, Hezbollah’s Aziz Organizations: Hezbollah, White, U.S, French Locations: Lebanon, Western, Israel, Gaza, tamping, Paris, Lebanese

☆ A new twist in Apple's deal with OpenAI
▼ + stars: | 2024-07-03 | by ( Erin Snodgrass | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +1 min

Apple gets an observer role on OpenAI's board as part of the companies' partnership, per Bloomberg. The arrangement raises Apple to Microsoft's level within the AI startup, according to the outlet. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Users who prefer not to use ChatGT will be able to opt-out of the features, Business Insider previously reported. This story is available exclusively to Business Insider subscribers.

Persons: Phil Schiller, —, Apple Organizations: Apple, Bloomberg, Service, Microsoft, Business

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