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☆ Billionaire tech CEO says bosses shouldn't 'BS' employees about the impact AI will have on jobs
▼ + stars: | 2024-09-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Corporate leaders can't "bulls---" their employees about the impact of artificial intelligence on the workforce and the ways in which the technology will affect jobs more broadly, according to one tech billionaire. "If I could give any advice, it's that everybody should be a student of AI and tech and not be afraid of it." Even though it's a given AI will impact the workforce, "none of us have it all completely figured out," he said. "If anybody comes in and tells you, 'I can tell you exactly how this is going to impact jobs and how it's going to impact everything we're doing,' they're lying. Kavanaugh co-founded WWT in 1990 with fellow St. Louis, Missouri-based entrepreneur David Steward as a reseller of technology equipment.

Persons: Jim Kavanaugh, Kavanaugh, David Steward Organizations: CNBC, Forbes, U.S, team Locations: Louis , Missouri, Los Angeles

☆ Darden Restaurants earnings disappoint as Olive Garden, fine dining sales struggle
▼ + stars: | 2024-09-19 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Darden Restaurants on Thursday reported weaker-than-expected quarterly earnings and revenue as sales weakened at Olive Garden and its fine dining restaurants. Net sales rose 1% to $2.76 billion, but the company's same-store sales declined 1.1% in the quarter. Darden's fine-dining segment, which includes Eddie V's and The Capital Grille, reported same-store sales declines of 6%. LongHorn Steakhouse was the company's only division to report same-store sales growth. The chain, a top performer in Darden's portfolio since the pandemic, saw same-store sales growth of 3.7%.

Persons: Rick Cardenas, Darden, Raj Vennam, Olive Garden's, Eddie V's, Ruth's Chris Steak, Chris Organizations: Darden, Olive, LSEG, LongHorn, Chuy's Holdings Locations: Olive, Chicago , Illinois, Tex

☆ Battleground stocks: Wall Street is completely divided on these controversial names
▼ + stars: | 2024-09-19 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Forty-one percent of analysts polled by FactSet have a buy rating on Tesla stock, while 21% have a sell rating. About 43% of analysts surveyed by FactSet maintain a buy rating on IBM stock, but 21% are at a sell. He also noted that the risk-to-reward skew on IBM stock is more balanced, leaving less upside for the stock. IBM YTD mountain IBM stock. Goldman Sachs recently added IBM to its conviction list with a $220 price target, or 2% above where shares closed Wednesday.

Persons: Tesla, TSLA, Wolfe Research's Emmanuel Rosner, Rosner, Morgan Stanley, Adam Jonas, Jonas, Elon Musk, Bernstein's Toni Sacconaghi, Sacconaghi, Goldman Sachs, Jim Schneider, Campbell Soup Organizations: CNBC Pro, FactSet, U.S, automakers, IBM, Pepperidge

☆ Child-free spaces, dirty looks on planes and ‘breeders’: Why people seem so annoyed by kids in public
▼ + stars: | 2024-09-19 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +12 min

CNN —In some corners of society, there appears to be a shift in the way people talk about kids. Every so often, a provocative social media post sets off predictably polarizing discourse about the presence of children in daily life. The implication (joking or otherwise) is that children are a nuisance and adults shouldn’t have to endure them if they don’t want to. The people behind them aren’t part of some organized movement nor are they actually lobbying for the exclusion of children from public spaces. Rather, Berg understands online disdain for kids partly as a performative response to rhetoric from political and religious conservatives.

Persons: snarkily, ”, shouldn’t, Mariah Maddox, —, Elinor Burkett, Boon, “, Lisa Belkin, Jason Lancaster, Anastasia Berg, Rachel Wiseman, Berg, JD Vance’s, Pope Francis, aren’t, Jessica J, June Carbone, Carbone, ” Carbone, Yolanda Williams, glared, ” Williams, Lauren Kavan, She’s, Kavan, ‘, ’, Jessica Calarco Organizations: CNN, Friendly, New York Times Magazine, University of Wisconsin, Madison, “, tote Locations: Ohio, Nebraska, Berg

☆ How to make the Fed rate cut work for you
▼ + stars: | 2024-09-18 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +11 min

In its August survey of car shoppers, a majority (64%) said a Fed rate cut likely would affect the timing of their purchase. But here’s the thing: Car loan rates are pretty high — the average is 7.1% for new cars and 11.3% for used cars, according to Edmunds. If you do buy a home this year and are considering buying down points to reduce your mortgage rate, crunch some numbers first, Diodato advised. That’s because you will pay thousands of dollars to buy down your mortgage rate now, and then thousands more in fees to refinance. What to do if you’re not near retirement: Reconsider how much money you’re keeping in cash or cash-equivalent investments.

Persons: Jerome Powell, Powell, “, ”, Greg McBride, McBride, Chris Diodato, Jessica Caldwell, ” McBride, Caldwell, We’re, Diodato, you’ll, won’t, Kathy Jones, Jones Organizations: CNN, Federal Reserve, Bankrate.com, Fed, Treasury, FDIC, Schwab Center, Financial Research, AAA, Bond Locations: Edmunds, Schwab.com

☆ 40-year-old self-made millionaire: 5 frugal habits I'll never quit
▼ + stars: | 2024-09-18 | by ( Jonathan Sanchez | ) www.cnbc.com time to read: +6 min

Although I hit this financial milestone, there are some frugal habits that I will never give up:1. Thanks to that mindset, I'm still very cautious about my credit card usage. I always pay off the credit card balance every month to avoid paying additional interest. Ultimately, these frugal habits help us put our resources towards the things that matter the most to us. He was raised with frugal habits and by practicing wise money decisions, became a millionaire in his 30s.

Persons: —, I'm, frugality, I've, Vue, Randy Pausch, Jonathan Sanchez Organizations: Parent Locations: Omaha

☆ I take quiet vacations from my $300,000 Wall Street job because the work isn't fulfilling. Here's how I get away with it.
▼ + stars: | 2024-09-18 | by ( Robin Madell | ) www.businessinsider.com time to read: +7 min

Read previewThis as-told-to essay is based on a conversation with a 42-year-old vice president at a Wall Street bank in New York City. I work in tech for a Wall Street bank, and I quiet vacation. I do the bare minimum work for my Wall Street job because the pay and bonuses aren't as good as they used to beI wanted to work on Wall Street because of the money. Even on Wall Street, it seems like once people fall into a way of thinking, they stick with it their entire lives. On Wall Street, it's more important not to make any mistakes than to see how many hours someone can sit in an office.

Persons: —, I've, he'd, I'm, Lauryn Haas Organizations: Service, Business, Microsoft, lhaas Locations: New York City, Virginia, Atlantic City, Ocean City

☆ Trump Media stock closes at new post-merger low, on eve of 'lockup' expiration
▼ + stars: | 2024-09-18 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +2 min

Shares of Trump Media closed Wednesday at a new post-merger low, on the eve of the expiration of "lockup" restrictions that have barred the Truth Social owners' insiders, like majority shareholder Donald Trump, from selling their stakes. Trump Media stock fell 3.22% on relatively light trading, to close at $15.62 a share. Trump Media made its market debut on the Nasdaq in late March, after a merger with a special purpose acquisition company. For Trump Media, the lockup period expires on Thursday. ARC Global currently holds a %4.77 stake in Trump Media, which it would likely be free to sell once the lockup expires Thursday.

Persons: Donald Trump, Trump Organizations: Trump National Golf Club, Trump Media, Nasdaq, Republican, Forbes, ARC, ARC Global, attempt.Trump Media Locations: Rancho Palos Verdes , California, Delaware

☆ Meet Africa's richest man, a billionaire who doesn't own a home outside Nigeria
▼ + stars: | 2024-09-18 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

Aliko Dangote, 67, is the richest person in Africa with an estimated net worth of $11.7 billion. He founded the Dangote Group, a cement manufacturer with a presence in 10 African countries. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAliko Dangote, 67, first appeared on Forbes' billionaires list in 2008, and he has been ranked Africa's richest person every year since. Dangote earned his billionaire status as the founder of the Dangote Group, Africa's largest cement producer with branches in 10 African countries.

Persons: Aliko Dangote, Bill Gates, —, Aliko, Dangote Organizations: Dangote, Service, Forbes, Business Locations: Africa, Nigeria

☆ Inside Hillwood Estate, a 26,000-square-foot mansion and home of the millionaire businesswoman who built Mar-a-Lago
▼ + stars: | 2024-09-18 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

Hillwood Estate was the home of breakfast-cereal heiress Marjorie Merriweather Post. Hillwood was Post's fall and spring home — she built Mar-a-Lago and lived there during the winter. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMarjorie Merriweather Post was once known as America's richest woman, with an estimated net worth of $250 million — around $1.8 billion today when adjusted for inflation. This story is available exclusively to Business Insider subscribers.

Persons: Marjorie Merriweather Post, Hillwood, — Organizations: Service, Post, General Foods Corporation, Maxwell, Business Locations: Hillwood, France, Russia

☆ Traders see small caps and short-term bonds as big winners from likely Fed rate cut
▼ + stars: | 2024-09-18 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +2 min

(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers. Traders and investors are debating if the Federal Reserve will cut 25 basis points or 50 basis points when the decision comes at 2pm eastern time. "25 or 50 (basis points), we see a credible case for either. "The Fed is likely to adjust policy by 200 to 250 basis points over the coming year. Garewal also said this rate cut was part of a "normalization" cycle and shared research that yields on the 2-year fall 65 basis points on average after a first Fed cut.

Persons: Jerome Powell, Mark Smith, Wells, stagflation, Smith, Craig Johnson, Piper Sandler, Russell, Johnson, Goldman Sachs, Garewal, Piper Sandler's Johnson, Huntington, Kevin Murphy Organizations: PRO, Worldwide, Traders, Federal Reserve, Advisors, Worldwide Exchange, Blackstone, Mastercard, Visa, Ameris Bancorp, Fed, Ferguson Enterprises

☆ Malaysian minister discusses the possibility of incorporating nuclear into the country's energy mix
▼ + stars: | 2024-09-18 | 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 EmailMalaysian minister discusses the possibility of incorporating nuclear into the country's energy mixSpeaking at the sidelines of Milken's Asia Summit, Nik Nazmi bin Nik Ahmad, Malaysia's Minister of Natural Resources and Environmental Sustainability says that the country is "carefully looking" at utilizing nuclear energy to achieve its net zero goals and that the country believes that it can make palm oil "sustainable" in the future.

Persons: Nik Nazmi, Nik Ahmad Organizations: Malaysian, Milken's Asia, Natural Resources, Environmental Sustainability

☆ Can Instagram's new 'Teen Accounts' help improve youth mental health? Experts weigh in
▼ + stars: | 2024-09-18 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +2 min

The feature, called Teen Accounts, is meant to address the harm social media can do to young peoples' mental health. This is a good first step, says Dr. Shannon Bennett, associate director of the center for youth mental health at NewYork-Presbyterian. "The opportunity cost while using social media is sleep or in-person socialization," she says. Experts agree the new features might net positive changes, but say its really too early to tell. In his best-selling book "The Anxious Generation" NYU social psychologist Johnathan Haidt also cited social media and smartphones as a major cause of youth loneliness.

Persons: Instagram, Dr, Shannon Bennett, Facebook, Vivek Murthy, Murthy, Johnathan Haidt, Haidt Organizations: NYU, The Locations: NewYork, defensiveness

☆ Gold has rallied ahead of Fed rate cuts. Here's why there could still be more upside
▼ + stars: | 2024-09-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

Gold is already near the top of the 2024 range of outcomes projected by BlackRock Investment Institute, for example. Emerging market central banks have about 6% of their FX reserves in gold, and developed markets have about 12%. "Weaponizing dollar-based systems, including SWIFT , has led to more people, more countries specifically — more sovereign wealth funds and central banks — not trusting dollar-based assets as much. ETF flows As central banks have been bidding up gold, smaller investors were selling for much of this year. The VanEck Merk Gold ETF (OUNZ) and the Abrdn Physical Gold Shares ETF (SGOL) are the other funds with at least $100 million in net inflows this year, according to FactSet.

Persons: there's, Robert Minter, Minter, SWIFT, Lauren Goodwin, we're, Chris Verrone Organizations: Federal, Nasdaq, BlackRock Investment Institute, Abrdn, World Gold Council, U.S ., FX, United, Russia, New York Life Investments, MiniShares, Federal Reserve Locations: U.S, Abrdn . Central, Central, United States, Ukraine

☆ Judge rules Trump Media breached stock contract with early investor
▼ + stars: | 2024-09-17 | by ( Kevin Breuninger | ) www.nbcnews.com time to read: +3 min

Trump Media breached an agreement with one of the investors that helped the company go public, and must grant the investor a larger share of its stock, a judge ruled. After DWAC merged with Trump Media, those Class B shares were supposed to automatically convert to Class A stock at a 1:1 ratio. Analysts have come to see indivual investments in Trump Media as a proxy for supporting the Republican presidential nominee and betting on his political fortunes. Trump Media is embroiled in numerous other lawsuits with ARC and its founder, Patrick Orlando, along with others involved in the public merger. Trump Media in a filing in that same lawsuit on Monday sought an “emergency” court hearing.

Persons: Donald Trump —, Lori Will, DWAC, Will, ” Will, “, Trump, Patrick Orlando Organizations: Trump Media, ARC Global, Truth, Trump, ARC, DWAC, Nasdaq, Analysts, Forbes, United Atlantic Ventures Locations: Delaware Chancery, Delaware, Florida

☆ The vaccines you need to know about before you travel
▼ + stars: | 2024-09-17 | by ( Lisa Kjellsson | ) edition.cnn.com time to read: +12 min

Norlys Perez/ReutersUntil recently, there wasn’t a widely available dengue vaccine for travelers. But according to Dr. Nicky Longley, consultant in infectious diseases and travel medicine at The Hospital for Tropical Diseases (HTD) at University College London Hospitals, dengue vaccination is not quite the silver bullet travelers had hoped for. One traveler who welcomes the arrival of the new Qdenga vaccine is UK-based travel writer Chris Dwyer. Which vaccines do you need? Adults are advised to keep a record of their immunizations and when they need to be boosted.

Persons: Yasuyoshi Chiba, Norlys Perez, Dengvaxia, Nicky Longley, haven’t, “, ” Longley, Chris Dwyer, Dwyer, Qdenga, ” Dwyer, vaccinates, Sia Kambou, ”, Longley, “ It’s, Anniina Sandberg, Sandberg, didn’t, Martin Harvey, HTD’s Longley, wasn’t, Tick Organizations: CNN, Hatta International Airport, Getty, Health Organization, WHO, US Centers for Disease Control, Prevention, Reuters, European Union, The, University College London Hospitals, Malaria, Natives, TBE, CDC Locations: Sweden, Asia, Thailand, Pakistan, Philippines, Soekarno, Tangerang, Indonesia, AFP, Cuba, Europe, United States, Malaysia, Abidjan, West Africa, South Sudan, Ivory, Finnish, Africa, Tanzania, Tanzanian, South Africa, Helsinki, Finland, Americas

☆ New details of Trump family crypto project released, including who can buy in
▼ + stars: | 2024-09-17 | by ( Mackenzie Sigalos | Christina Wilkie | Mackenzie Sigalos Is A Technology Reporter For Cnbc With A Focus On Cryptocurrency | ) www.nbcnews.com time to read: +6 min

For over a month, the former president and his family have been pumping up a project called World Liberty Financial, promising that it will do many things at once. He’s also part of the small group of World Liberty Financial founders, according to an internal report on the project obtained by CoinDesk. Witkoff was seated to Trump’s right during Monday night’s spaces, and described how he brought the Trump family together two crypto entrepreneurs. Alongside Trump and Witkoff, founders include Donald Trump Jr., Eric Trump and Barron Trump, as well as Witkoff’s son, Zach Witkoff, according to a person briefed by a member of the group’s founding team. CNBC reached out to Eric Trump and Witkoff to ask about their leadership roles within World Liberty, and didn’t immediately receive a reply.

Persons: Donald Trump’s “, Zak Folkman, Folkman, Trump, Gary Gensler, Steve Witkoff, Witkoff, Trump’s, He’s, “, Chase Herro, I’ve, ”, ‘, Eric, Don Jr, Let’s, We’ve, Donald Trump Jr, Eric Trump, Barron Trump, Zach Witkoff, CoinDesk, Barron, ” Eric, Donald Jr, didn’t, Donald Trump Organizations: Republican, Trump, Liberty Financial, Securities, Exchange, Securities and Exchange Commission, SEC, Trump International Golf Club, FBI, World Liberty Financial, CoinDesk, Witkoff, Trump Media Technology Group, NBC, ”, Bloomberg, Trump Organization, Liberty, CNBC, GOP Locations: West Palm Beach , Florida, Nashville

☆ Americans are piling into a hot new type of ETF investing
▼ + stars: | 2024-09-17 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Read previewThe popularity of exchange-traded funds has skyrocketed over the past decade as more Americans have opted for them over mutual funds. Further, between 2014 and 2024, assets under management in ETFs were at 16%, versus 84% for mutual funds. Related storiesAn increased number of money managers are choosing to offer so-called model portfolios using ETFs as the main vehicles. This means managers opting for the ETF model portfolios have a range of active funds and expertise to choose from. It's a combination of ETFs, mutual funds, and separate accounts that are merged into a strategy.

Persons: —, Matt Barry, Jon Maier, It's, Maier, Barry, Merrill Lynch's Organizations: Service, JPMorgan, Business, Touchstone Investments, Morgan, Management

☆ India's central bank chief plays down fears of a deposit crunch
▼ + stars: | 2024-09-17 | by ( Matt Clinch | ) www.cnbc.com time to read: +3 min

Speaking to CNBC in an exclusive interview, Reserve Bank of India (RBI) Governor Shaktikanta Das discussed the issue of slowing growth in bank deposits underperforming an expansion in loans. "So there is a gap of 350 to 400 basis points," he said, referencing the difference between credit and deposit growth. Annual figures from August put loan growth at 13.6% with deposit growth at 10.8%, according to Reuters. When lending outpaces deposits, net interest margins — or the difference between what a bank earns on loans and pays out for deposits — take a hit. India's GDP slowed to 6.7% in the second quarter compared to last year's 8.2%, piling pressure on the central bank to reverse a recent hiking cycle.

Persons: Shaktikanta Das, Das, Ashish Gupta, CNBC's Organizations: CNBC, Reserve Bank of India, Reuters, Mutual Fund, Monetary, MPC Locations: India

☆ I took a $13,000 pay cut to work as a deckhand on a superyacht. I don't regret it as it gave me a career I can grow in.
▼ + stars: | 2024-09-17 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +6 min

This as-told-to essay is based on a conversation with Nathan Marx, a deckhand for a superyacht. I knew some friends who had entered the yachting industry since leaving school, and it looked very intriguing and adventurous. AdvertisementMy previous job had long hours and was hard work, which made me comfortable stepping into the yachting industry. We also had the privilege of hiking up into the old city, an amazing experience I don't think I would've had otherwise if I wasn't into the yachting industry. But the yachting industry is a tight-knit community that's made me very happy over the past few months, so I'll stay for as long as possible.

Persons: Nathan Marx, I'm, that's, Will Smith, haven't Organizations: Service, Business Locations: South Africa, Antibes, France, Monaco, I'm, Corsica

☆ Oracle's Larry Ellison is now the world's 4th-richest person after a $57 billion wealth surge this year
▼ + stars: | 2024-09-17 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Larry Ellison surged past LVMH chief Bernard Arnault to become the world's fourth-richest person. Oracle's cofounder is worth $181 billion after gaining nearly $58 billion this year, per Bloomberg. Go to newsletter preferences Thanks for signing up! AdvertisementLarry Ellison has overtaken Bernard Arnault to become the world's fourth-richest person with a $181 billion fortune. His net worth has soared by $57.8 billion since then, making him the third-biggest wealth gainer after Meta CEO Mark Zuckerberg, up $61.4 billion, and Nvidia CEO Jensen Huang, up $58.5 billion.

Persons: Larry Ellison, Bernard Arnault, —, leapfrogged, Ellison, Mark Zuckerberg, Jensen Huang Organizations: Bloomberg, Service, Nvidia, Business

☆ Elon Musk is on track to become the world’s first trillionaire very soon
▼ + stars: | 2024-09-17 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Elon Musk’s sprawling empire — spanning everything from electric vehicles and social media to space rockets and miniature brain implants — may soon make him the world’s first trillionaire. Now, Musk could become the world’s first trillionaire, a milestone that Informa Connect Academy says he’s on track to hit by 2027. The EV maker founded by Musk has become the world’s most valuable auto company, with a price tag of about $710billion. Musk owns another 303 million stock options linked to his epic and controversial compensation package, which was struck down by a judge but then revived and approved by shareholders. As Bloomberg notes, Musk owns about 42% of SpaceX, a private company valued in June at a whopping $210 billion.

Persons: New York CNN —, Informa, Jensen Huang, Huang, Gautam Adani, Musk, Tesla, ” Dan Ives, “ Musk, ” Ives, Donald Trump, Joe Biden, Biden, Kamala 🤔, ” Organizations: New, New York CNN, New York CNN — Elon, Informa Connect, Nvidia, Bloomberg, Cola, Bank of America, Boeing, Wedbush Securities, CNN Locations: New York, China, usk, wns

☆ China's ultra-rich population sees 'dramatic' growth in last 10 years, outpacing the U.S., report shows
▼ + stars: | 2024-09-17 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

The world's super rich club expanded significantly over the past 10 years, with China leading the charge, according to the latest report from New World Wealth and investment migration advisor Henley & Partners. The number of centimillionaires surged 54% worldwide over the past decade to 29,350, particularly in China and the U.S., according to the report. China's growth was driven in large part by the emergence of tech centimillionaires and industrial titans, Steffen said. Most of China's centimillionaire boom happened between 2013 to 2020, Andrew Amoils, wealth analyst at New World Wealth, told CNBC. Since 2020, the number of ultra-rich has only risen about 10%, he added.

Persons: Henley, Juerg Steffen, — outpacing, Steffen, Andrew Amoils Organizations: Wealth, Henley & Partners, CNBC Locations: China, U.S, America

☆ Amazon's five-days-in-the-office mandate could be the start of a wider RTO shift
▼ + stars: | 2024-09-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

A Business Insider reporter found out by enlisting in the city's 'elite squad of anti-rat activists.' What's on deck:This story is available exclusively to Business Insider subscribers. In February 2023, it announced plans to require most office workers to show up in-person three days a week. And in the hyper competitive world of Big Tech, other tech giants might follow suit rather than risk getting bad-mouthed by rivals to their clients. How can insert Big Tech company really serve you best when its people are home half the time?

Persons: —, RTO Nickilford, Maria Ivanova, Getty, Tyler Le, Andy Jassy, Slack, It's, Miranda Jones, Donald Trump, Trump, Fundstrat's Tom Lee, Elon Musk, Joe Biden, Kamala Harris, Apple's, TikTok, Chris Williams, We're, Stephen Nedoroscik, Anna Delvey, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, New York, Business, Amazon, Big Tech, Employees, McKinsey, Trump Media, Vanguard, Anadolu, Getty, Elon, Taiwan Semiconductor Manufacturing Company, Nvidia, Apple, DOJ, Microsoft, Open, It's Locations: New, North America, New York, London

☆ Snap unveils latest AR glasses despite ongoing struggles in core ad business
▼ + stars: | 2024-09-17 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Snap on Tuesday announced the fifth generation of its Spectacles augmented reality glasses that can overlay digital graphics onto the physical world. Snap's announcement comes days before rival Meta's Connect event, a conference where Facebook's parent typically unveils its latest hardware. Like Meta, Snap has been trying for years to break into consumer hardware. The previous day Meta reported better-than-expected quarterly results that sent the stock price up 7%. The company has yet to find meaningful success, but Wall Street has afforded Meta patience with Reality Labs because the company's advertising business is thriving.

Persons: Evan Spiegel, OpenAI, Meta's, Leo Gebbie Organizations: Snap Inc, Barker, Tuesday, Meta, Labs, Reality Labs, CCS Insight Locations: Santa Monica , California

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