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☆ Universal basic income is 'straight out of the Karl Marx playbook,' financial guru Dave Ramsey says
▼ + stars: | 2024-07-02 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Universal basic income is in vogue with many trials underway and people like Elon Musk touting it. Personal finance guru Dave Ramsey criticized UBI as "straight out of the Karl Marx playbook." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUniversal basic income is having a moment with trials launching across the globe, promising early test results, and the likes of Elon Musk singing its praises. "This is straight out of the Karl Marx playbook — this is not out of the Adam Smith playbook," Dave Ramsey said about UBI on "The Ramsey Show" last summer.

Persons: Elon, Dave Ramsey, UBI, Karl Marx playbook, —, Elon Musk, Adam Smith playbook Organizations: Service, Business

"We see softness in data — permits, starts, sales and prices all recently below expectations — potentially continuing in 2H," the analyst wrote. The bank initiated the health care tech stock with an overweight rating and a December 2025 price target of $24. "Waystar is a vertical, cloud-based software company focused on automating, digitizing, and enhancing revenue cycle management functions," wrote analyst Anne Samuel. Analyst Daniel Politzer reiterated his overweight rating on the casino and resort stock but lowered his price target to $58 from $60. The analyst wrote that he sees "the current valuation as an attractive entry point into what we view as one of the most durable companies in our coverage."

Persons: Piper Sandler, Mizuho, Piper Sandler downgrades CrowdStrike Piper Sandler, Rob Owens, Owens, CrowdStrike, Lisa Kailai Han, downgrades Goldman, Jim Mitchell, Goldman Sachs, Mitchell, Goldman, — Jesse Pound, Brandt Montour, Montour, VIK, — Hakyung Kim, Anthony Pettinari, Pettinari, — Lisa Kailai Han, Guggenheim, Tesla, Ronald Jewsikow, Keith Gill, Gill, he's, Kitty, Musk, Jewsikow, Waystar, Anne Samuel, Samuels, Jessica Reif Ehrlich, Ehrlich, Wells, Daniel Politzer, Politzer, GGR, WYNN est's, —, Mizuho Mizuho, James Lee, Lee, Fred Imbert Organizations: CNBC, Seaport, of America, downgrades Goldman Sachs Seaport Research, Bank of America, Barclays, Viking Holdings, American Baby Boomers, Citi, Federal, Securities and Exchange Commission, JPMorgan, Nasdaq, Spotify, Spotify Technology, Las Vegas, Vegas, Macau GGR, Intelligence, Amazon Locations: Amazon, SIEM, Lennar, 2H, Chewy, Europe, China, Las, Las Vegas Sands, Macau, Bay Sands, Singapore, Atlassian, Monday's

☆ Elon Musk’s Politics May Be Pushing Some Buyers Away From Tesla
▼ + stars: | 2024-07-02 | by ( Jack Ewing | ) www.nytimes.com time to read: +1 min

Few auto executives are as closely identified with the companies they manage as Elon Musk, the chief executive of Tesla, is. And probably none are more prolific in broadcasting their political views on social media. His image as an erratic, impulsive manager appears to have rubbed off on the cars, raising doubts in some people’s minds about their quality and helping to explain why Tesla sales have been falling. “Musk is a true lightning rod,” said Ben Rose, the president of Battle Road Research, which has a generally positive view on Tesla’s stock. “There are people who swear by him and people who swear at him.

Persons: Elon Musk, Tesla, “, ”, Ben Rose Organizations: Elon, Battle, Research Locations: York

☆ Elon Musk got his big payday. But Salesforce's Marc Benioff might not be so lucky.
▼ + stars: | 2024-07-02 | by ( Meghan Morris | ) www.businessinsider.com time to read: +1 min

Salesforce shareholders rejected the company's proposed compensation plan for top executives. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Salesforce CEO Marc Benioff is likely not dancing this week. The company said in a regulatory filing on Monday that a slim majority — 53% — of shareholder votes were cast against the proposed compensation plan for Benioff and other top executives. This story is available exclusively to Business Insider subscribers.

Persons: —, Elon, Marc Benioff Organizations: Service, Business

☆ Tesla sales fall again as more automakers crowd electric vehicle market
▼ + stars: | 2024-07-02 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —Tesla sales fell for the second straight quarter. In the fourth quarter BYD briefly passed Tesla in global EV sales. But the better-than-expected Tesla sales were enough to lift shares of Tesla (TSLA) by more than 9% in midday trading. The strong EV sales were balanced by a slight drop - about 0.3% - in sales of traditional gasoline powered cars. Toyota’s US EV sales soared even more, rising 301% to 11,600.

Persons: Tesla, Elon Musk, —, BYD, CNN’s Laura He, Peter Valdes, Dapena Organizations: New, New York CNN, clamoring, Tesla, Volkswagen, General Motors, Ford, GM, EV, Blazer EV, Cadillac, Toyota Locations: New York, China, Europe, North America

☆ Supreme Court prepares to issue ruling on Trump immunity and final cases Monday
▼ + stars: | 2024-07-01 | by ( John Fritze | ) edition.cnn.com time to read: +5 min

That position appeared to have some purchase on the 6-3 conservative Supreme Court during oral arguments in April. The court will also decide two cases at the intersection of the First Amendment and social media. At issue are laws enacted in Florida and Texas aimed at stopping social media giants like Facebook and X from throttling conservative views. The Republican governors who signed the laws said they were needed to keep the social media platforms from discriminating against conservatives. The issue before the Supreme Court is whether the truck stop may sue in the first place, given a six-year statute of limitations on challenging government regulations.

Persons: Donald Trump, Trump, Jack Smith’s, Joe Biden “, Jake Tapper, Biden, Elon Musk, –, Samuel Alito, Alito, John Roberts Organizations: CNN, White, Trump, Facebook, Elon, Capitol Locations: Florida, Texas, North Dakota, Idaho

☆ See how different Elon Musk, Jeff Bezos, and other tech CEOs looked when they first started their companies
▼ + stars: | 2024-07-01 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Some of Silicon Valley's biggest names are in their tech bro era. It wasn't always like this — many Big Tech CEOs have shed more nerdy personas from their startup days. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Other Big Tech leaders have significantly changed up their looks since starting their companies; some are nearly unrecognizable (we're looking at you, Jeff Bezos.) Here's a look at the style transformations of some of tech's biggest names:

Persons: —, Mark Zuckerberg, Jeff Bezos Organizations: Big Tech, Service

☆ A Chinese firm's answer to SpaceX's Falcon 9 blew up in a giant fireball after it accidentally launched during a test
▼ + stars: | 2024-07-01 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Read previewA Chinese space firm said on Sunday that it accidentally launched its Tianlong-3 rocket during a test, causing the vehicle to lift off and crash into a nearby mountainside. The Chinese Tianlong-3 Rocket Accidentally Launched During A Engine Test pic.twitter.com/EK54F4chYF — 𝕏 Ali Al Samahi 𝕏 (@alsamahi) June 30, 2024"The rocket body disintegrated after falling into the mountain," Tianbing's statement said. Related storiesDesigned to deliver satellites to orbit, it's a liquid-propellant rocket described by Tianbing as "comparable to Space X's Falcon 9." Tianbing, one of several Chinese private space rocket companies to gain prominence in recent years, in April 2023 launched another reusable rocket — the Tianlong-2 — fueled by coal-based kerosene. With nine engines, the Tianlong-3 is now being touted by Tianbing as a revolutionary rocket for China's space industry.

Persons: — Organizations: Service, Tianbing Aerospace Technology, Business Locations: Beijing, Gongyi, Henan

☆ Elon Musk's now lauding Jensen Huang for having once cleaned toilets
▼ + stars: | 2024-07-01 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Elon Musk is a fan of Jensen Huang's work ethic. Huang said he once worked for the breakfast chain Denny's, where he washed dishes and cleaned toilets. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNvidia CEO Jensen Huang's indefatigable work ethic has helped turn the chip giant into one of the most valuable companies in the world. So it's perhaps no surprise that Huang's client and fellow billionaire, Elon Musk, is a fan of his management style.

Persons: Elon, Jensen, Huang, —, Elon Musk, Musk Organizations: Nvidia, Service, Business

☆ Citadel’s Ken Griffin says he's not convinced that AI will replace human jobs in the near future
▼ + stars: | 2024-07-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Ken Griffin, founder and CEO of Citadel, said he remains skeptical that artificial intelligence could soon make human jobs obsolete as he sees flaws in machine learning models applied in certain scenarios. Some are convinced that within three years almost everything we do as humans will be done in one form or another by LLMs and other AI tools," Griffin said Friday during an event for Citadel's new class of interns in New York. "For a number of reasons, I am not convinced that these models will achieve that type of breakthrough in the near future." The rapid rise of AI has had the world pondering its far-reaching impact on society, including technology-induced job cuts. "Machine learning models do much better when there's consistency."

Persons: Ken Griffin, Griffin, Elon Musk Organizations: Citadel, Harvard University, Massachusetts Institute of Technology Locations: New York

☆ Tesla is about to embark on a 2nd half rally as the company's comeback story is starting, Wedbush's Dan Ives says
▼ + stars: | 2024-07-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Tesla stock is set for big upside in the second half of 2024, Wedbush predicted. That's because the carmaker is finally a turnaround in weak demand from China, Dan Ives said. But those headwinds are easing, particularly as things begin to stabilize in China, Ives said. The release could represent a major turning point for Tesla stock, Ives said, previously calling the robotaxi a "magic model" for the company. I believe this is a stock that's going to have a massive run second-half of the year."

Persons: Wedbush, Dan Ives, Ives, —, Wedbush's Dan Ives, Tesla, Elon, that's, Trump, Joe Biden, Musk, Wells Organizations: Service, CNBC Locations: China

☆ Elon Musk came up with a perfect audiobook list for anyone who thinks about Rome on a daily basis
▼ + stars: | 2024-07-01 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewElon Musk has come up with a list of recommended audiobooks — but they may not make terribly relaxing listening by the pool or beach this summer. "Admittedly, this is a list that appeals to those who think about Rome every day," Musk wrote on X, referring to the viral internet craze questioning how often men dwell on the Roman Empire. Musk is known to be fascinated by history, particularly the study of warfare and civilization.

Persons: —, Elon, Tesla, Will, Ariel Durant, Rousseau, Musk, Friedrich Hayek, Durant, Hayek, Caesar, Doom, Kushner, The, Junger The, Tuchman, — Elon, General Douglas MacArthur, David Kushner, cofounders John Carmack, John Romero, Caesar himself, Mathias Döpfner, Axel Springer, Alexander the Great, William Bolitho, Christopher Columbus, Genghis Khan, Jack Weatherford, Richard Ernest Dupuy, Trevor Dupuy, Edward Shepherd Creasy Organizations: Service, Business, Manchester Masters, SpaceX, Tesla, Archaeologic Museum Locations: Rome, Naples, Italy

☆ Elon Musk gives a hint at just how much his AI chatbot cost to develop
▼ + stars: | 2024-07-01 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

Read previewElon Musk just hinted at how much it cost to make his AI chatbot Grok. Knowing how many H100 GPUs Musk is getting allows us to do some napkin math to figure out a rough estimate of the cost. Mark Zuckerberg said in January that Meta will have purchased about 350,000 Nvidia H100 GPUs by the end of 2024. Aravind Srinivas, founder and CEO of AI startup Perplexity, talked about getting turned down by a Meta AI researcher he was trying to poach in part because of Zuckerberg's huge collection of AI chips. 'Come back to me when you have 10,000 H100 GPUs,'" Srinivas said.

Persons: —, Elon, chatbot, Hopper, Musk, Nicolai Tangen, xAI, Mark Zuckerberg, Meta, Aravind Srinivas, Srinivas Organizations: Service, Business, Nvidia, Twitter, Meta Locations: Silicon Valley

☆ Warren Buffett's Berkshire Hathaway raked in billions from BYD, the China EV maker Munger called a 'damn miracle'
▼ + stars: | 2024-06-30 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Sixteen years ago, Warren Buffett's Berkshire Hathaway unveiled a $230 million investment in Chinese electric vehicle startup BYD , sparking questions about the conglomerate's unusual foray into early-stage technology. Lately, Berkshire has been selling down the position, ringing the register after earning billions of dollars during its hyper-growth phase. Berkshire trimmed its BYD stake to 5.99% as of June 19 from 7% just a few days earlier , according to a Hong Kong Stock Exchange filing . It has since become the top car brand in China, as well as a major producer of EV batteries. "From a standing start at zero and with very little capital, he rapidly was able to create the best-selling single model in China," Munger said.

Persons: Warren Buffett's Berkshire Hathaway, Charlie Munger, —, Munger, Wang Chuanfu, he's, Buffett, Thomas Edison, Bill Gates, BYD, Tesla, Li Lu Organizations: Hong Kong Stock Exchange, Oracle, EV, Elon, Seattle, Capital, Berkshire Locations: China, Berkshire, Munger, Omaha, Shenzhen, Hong Kong

☆ Peter Thiel supported Elon's X as an ideological project but worries about it as a 'financial thing'
▼ + stars: | 2024-06-28 | 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 EmailPeter Thiel supported Elon's X as an ideological project but worries about it as a 'financial thing'Peter Thiel joins the Aspen Ideas Festival on Thursday to give his take on Elon Musk’s social media platform X, formerly known as Twitter. NBCUniversal News Group is the media partner of the Aspen Ideas Festival.

Persons: Peter Thiel, Elon's Organizations: Aspen Ideas, Elon, NBCUniversal

☆ One of the most powerful men in entertainment just called OpenAI's Sam Altman a 'con man' who can't be trusted
▼ + stars: | 2024-06-28 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +1 min

Ari Emanuel, CEO of media conglomerate Endeavor, called for guardrails on artificial intelligence. But he said OpenAI CEO Sam Altman can't be trusted and the government needs to step in. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAri Emanuel, CEO of Endeavor, the sports and entertainment conglomerate, called OpenAI CEO Sam Altman a "con man" who can't be trusted with artificial intelligence.

Persons: Ari Emanuel, Sam Altman, —, Altman, Emanuel, Elon Musk Organizations: Endeavor, Aspen Ideas, Service, Ideas, Business

☆ I skipped grad school and became a mechanic instead. I ended up getting a dream job at Tesla.
▼ + stars: | 2024-06-28 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on a transcribed conversation with Diana Welsch about training to be a car mechanic instead of going to grad school. I went to trade school instead of grad schoolI decided to go to trade school in 2014. AdvertisementI got a dream job at TeslaAt my trade school fair, I saw that Tesla was hiring trainees. I left Tesla later that yearI'd wanted to stay at Tesla my whole life — it was the most fun job ever. I wish I had gone to trade school after high school instead of college.

Persons: —, Diana Welsch, I've, Tesla, I'd, Elon Musk, Uncle Elon, Elon, they'd Organizations: Service, Business, Universal Technical Institute, Sun Devil, Tesla, Bluetooth, LA, Management Locations: Arizona, Phoenix, Los Angeles, North Dakota

☆ Silicon Valley figures are not holding back after Biden's disastrous debate
▼ + stars: | 2024-06-28 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Read previewSeveral Silicon Valley figures have offered their thoughts on President Joe Biden's performance in Thursday's presidential debate — and it's not a pretty picture. AdvertisementSome Silicon Valley figures have warmed up to TrumpHeading into Thursday's debate, the election was clearly splitting opinion among Silicon Valley figures. AdvertisementTonight was a clear victory … for memes — Elon Musk (@elonmusk) June 28, 2024Plenty of other tech figures did not hold back when discussing Biden's performance, however. Some tech figures leaned into mockery. Y Combinator cofounder Paul Graham posted on X that "Biden bombing the debate" was good for the party as a better candidate would emerge.

Persons: —, Joe Biden's, it's, influencers, Donald Trump, Biden, Reid Hoffman, Vinod Khosla, Joe Biden, Kimberly White, Elon Musk, Musk, Elon, there's, Hoffman, Khosla, Trump, David Sacks, Sacks, — David Sacks, @DavidSacks, Jason Calacanis, Biden —, Nikita Bier, Shaun Maguire, Delian Asparouhov, Ralph Wiggum, Sarah Guo, Paul Graham, — Paul Graham, @paulg Organizations: Service, Business, Republican, Trump, Cuban Missile, America, Founders Fund, Democrats, Biden Locations: America, Los Angeles, Atlanta, Sequoia, Delian, San Francisco, Silicon

☆ Judge will consider $6 billion legal fees for lawyers who voided Elon Musk's multibillion pay package
▼ + stars: | 2024-06-28 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Read previewA Delaware judge still wants to consider a $6-billion request in legal fees from lawyers who shot down Elon Musk's multibillion-dollar pay package at Tesla regardless of the recent shareholder vote, court documents show. In January, Chancellor Kathleen McCormick of the Delaware Chancery Court ruled against Elon Musk's pay package that would've awarded the Tesla CEO more than $55 billion in stock at the time. With the outcome, lawyers representing Richard Tornetta, the Tesla shareholder who objected to the compensation plan, argued that they provided a valuable service in getting Musk's package rescinded. But Musk received some good news in June after shareholders voted to re-approve the CEO's pay package and maintain the current board structure with Kimbal and James Murdoch. Chancellor McCormick will have to decide on the fate of the package and whether the plaintiff's attorneys do deserve about $6 billion in legal fees.

Persons: —, Elon Musk's, Kathleen McCormick, McCormick, Richard Tornetta, Musk, James Murdoch, doesn't, Chancellor McCormick, James, Park Organizations: Service, Elon, Business, University of California, Tesla Locations: Delaware, Los Angeles

☆ Spacewalk spacesuits are aging rapidly, but NASA just canceled plans for new ones
▼ + stars: | 2024-06-27 | by ( Jackie Wattles | ) edition.cnn.com time to read: +3 min

CNN —The iconic puffy white suits that astronauts have donned for decades as they step outside the International Space Station are rapidly aging — but NASA is now without concrete plans to replace them. Astronauts currently wear spacesuits — called Extravehicular Activity, or EVA, suits — designed more than 40 years ago when conducting spacewalks. Collins Aerospace’s Next-Gen spacesuit, intended for use at the International Space Station, is seen during the design process. NASA plans to retire the space station sometime within the next several years. But Roscosmos, the Russian space agency, has only guaranteed its participation through “at least 2028.”

Persons: —, Collins, Trent Sugg, Tracy Dyson, It’s, Jared Isaacman, Elon, ” Organizations: CNN, NASA, Collins Aerospace, RTX Corporation, Raytheon Technologies, SpaceX, International, Polaris, Space Locations: Houston, Russian

☆ The International Space Station is getting the scrap, and Elon Musk's SpaceX is being paid close to $1 billion to do the honors
▼ + stars: | 2024-06-27 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +1 min

SpaceX has been chosen to drag the International Space Station out of orbit. NASA will give Musk's space exploration company $843 million for the mission. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNASA has tasked Elon Musk's SpaceX with building a vehicle powerful enough to pull the International Space Station (ISS) out of orbit. "NASA announced SpaceX has been selected to develop and deliver the U.S. Deorbit Vehicle that will provide the capability to deorbit the space station and ensure avoidance of risk to populated areas," per the statement.

Persons: —, Elon Organizations: SpaceX, Space, NASA, Service, . Deorbit, Business

☆ A timeline of Elon Musk's political stances and donations before his latest embrace of the Republican Party
▼ + stars: | 2024-06-27 | by ( Jake Lahut | Grace Eliza Goodwin | ) www.businessinsider.com time to read: +10 min

And as one of the richest and most powerful people in the world, Musk's political stances carry a great weight. Musk's political donations dating back to 2002 fit neatly into just a single landing page on OpenSecrets, a nonprofit organization that tracks money in politics. AdvertisementThough Musk historically hasn't been big on political donations, he's publicly said that he weighs in on politics when it could affect his businesses. Musk's political coming of age during the pre-social media era remains much of a mystery. His latest donations have all been to Republican candidates and causes, with Sen. Chris Coons of Delaware being the last Democrat to receive any Musk donations back in 2020.

Persons: —, Elon, hasn't, that's, he's, Trump, Joe Biden, Donald Trump, Musk, Elon Musk, Paul Harris, Errol —, Ashlee Vance's, Musk's, Andrew Panzera, Tesla, Martin Eberhard, Marc Tarpenning, Trump Tesla, Alex Brandon Musk, George W, Bush, John Kerry, Barack Obama, Hillary Clinton, Clinton, Sen, Chris Coons, Rex Tillerson's, Hillary Clinton's, Marc Piasecki, Ron DeSantis, DeSantis, Biden, Nelson Peltz, MAGA, — Musk Organizations: Service, SpaceX, Business, White, Tesla, Getty, Pretoria City Council, Progressive Party, New York Times, Times, PayPal, Trump, Donald Trump AP, Democratic, California Democrats, National Republican Congressional, GOP, Republican, Elon, State, Paris Climate, America, NASA, Biden's, Cannes Lions, Democratic Party, Republican Florida Gov, Twitter Locations: Africa, Los Angeles, Republic of South Africa, Pretoria, South Africa, Canada, Johannesburg, Silicon Valley, California, Sens, Delaware, Paris, Texas, Musk's Texas

☆ These are the most expensive S&P 500 stocks heading into the second half
▼ + stars: | 2024-06-27 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Artificial Intelligence plays Top AI plays were among the list of expensive stocks in the S & P 500, including Broadcom , Lam Research , Intel and Super Micro Computer . Each stock's price-earnings ratio equates to a roughly 60% to 66% premium over the historical average. SMCI YTD mountain Super Micro Computer stock. Super Micro Computer, meanwhile, has continued to ride the AI wave despite some weakness last month after third-quarter revenue missed analyst expectations. The stock's trailing 12-month price-earnings ratio is also more than double its five-year average, at a 63% premium.

Persons: Elon Musk, Daron Acemoglu, Goldman Sachs, Eli Lilly Eli Lilly, Eli Lilly, Biogen's Leqembi Organizations: CNBC Pro, Nvidia, CNBC, Stock, Artificial Intelligence, Broadcom, Lam Research, Intel, Micro, Super Micro Computer, Computer, Wall, Bank of America, Micro Computer, Dell, Massachusetts Institute of Technology, U.S . Food, Drug Administration Locations: U.S

Talking pointsAll eyes will be on CNN at 9 p.m. Eastern, when President Biden and Donald Trump face off in their first debate since 2020. Among the keenest watchers will be executives and investors looking for signs about how the candidates might handle the economy and business in a second term. There will be plenty to scrutinize in the 90-minute, audience-free debate, including what the candidates say and how they say it. What will Biden and Trump say about some of the key issues? In Thursday night’s debate, “markets probably care more about presentation than policy pledges,” Paul Donovan, an economist at UBS, wrote in a client note.

Persons: Biden, Donald Trump, Trump, ” David Bahnsen, DealBook, ” Paul Donovan, Elon Musk, There’s, J.D, Vance of, Doug Burgum, Marco Rubio Organizations: CNN, Bahnsen, UBS, Biden, Trump, Times, Gov Locations: Atlanta, Vance of Ohio, North Dakota, Marco Rubio of Florida

☆ Supreme Court curbs SEC powers to enforce securities laws
▼ + stars: | 2024-06-27 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +2 min

People line up to get into the U.S. Supreme Court on the day where decisions ares expected to be handed down, in Washington, U.S., June 26, 2024. WASHINGTON — The Supreme Court on Thursday put new limits on the power of the Securities and Exchange Commission to enforce securities laws — the latest ruling in a series of cases that take aim at federal agencies. The court ruled 6-3 that adjudication of cases by in-house judges violates the right to trial by jury. The challenge zeroed in on how the SEC enforces securities laws, including those prohibiting insider trading. A three-judge panel of the New Orleans-based 5th Circuit U.S. Court of Appeals ruled against the agency, prompting the SEC to ask the Supreme Court to intervene.

Persons: WASHINGTON —, George Jarkesy, Elon Musk, Mark Cuban Organizations: U.S, Supreme, WASHINGTON, Securities and Exchange Commission, SEC, Circuit U.S Locations: Washington , U.S, New Orleans

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