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Engineer Don Kramer is slated to testify as the investigation continues into the implosion of OceanGate's Titan submersible. The Coast Guard opened a public hearing earlier this month that is part of a high level investigation into the cause of the implosion. Coast Guard officials noted at the start of the hearing that the submersible had not been independently reviewed, as is standard practice. Wreckage of the Titan was subsequently found on the ocean floor about 330 yards (300 meters) off the bow of the Titanic, Coast Guard officials said. OceanGate said it has been fully cooperating with the Coast Guard and NTSB investigations since they began.

Persons: Don Kramer, Stockton Rush, David Lochridge, Rush, ” Lochridge, William Kohnen, Bart Kemper, Guillermo Sohnlein, ” Sohnlein, “, OceanGate, Titan Organizations: National Transportation Safety, Coast Guard, Titanic, Stockton, The Coast Guard, Hydrospace, Inc, Kemper Engineering, Rush, Polar, NTSB, Associated Press Locations: Washington, Polar, St, John’s, Newfoundland

☆ Watch CNBC’s full interview with Flutter CEO Peter Jackson
▼ + stars: | 2024-09-25 | 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 Flutter CEO Peter JacksonFlutter CEO Peter Jackson joins 'Squawk on the Street' to discuss the company's raised guidance, how it is using AI, trends in sports gambling, and much more.

Persons: Peter Jackson

☆ Meta Connect 2024 live updates: Mark Zuckerberg expected to talk AI, a new Quest, and give updates on the Ray-Ban smart glasses in keynote speech
▼ + stars: | 2024-09-25 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Meta Connect 2024 kicks off at 1 p.m. The CEO is expected to talk about AI, Meta's Ray-Bans and Quest, and demo the "Orion" AR glasses prototype. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Meta Connect kicks off on Wednesday afternoon, and the tech industry is anticipating some flashy new hardware.

Persons: Mark Zuckerberg, Meta's Ray, —, it's Organizations: Service, Meta, Business

☆ Pro Talks: After the Fed cuts rates, one fund manager reveals where to invest right now
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +1 min

Investors should stay away from overvalued U.S. stocks in 2025, fund manager Sean Peche has cautioned. The value investor at Ranmore Fund Management told CNBC's Silvia Amaro on CNBC Pro Talks about where he sees undervalued stocks and opportunities, especially now the U.S. Federal Reserve has cut interest rates. Pesh highlighted his fund's holdings, including Carrefour , Petrobras , Alibaba , and Baidu as value plays. Peche, who set up Ranmore Fund Management in 2008, also shared some of the worst trades of the year, as well as his most successful yet. Since inception, the fund has gained 10.9% on an annualized basis, slightly more than the 10.6% posted by its MSCI benchmark.

Persons: Sean Peche, CNBC's Silvia Amaro, Pesh Organizations: Ranmore Fund Management, CNBC Pro, U.S . Federal, Carrefour, Petrobras, Alibaba, Baidu, Ranmore, Equity, ABN Amro, Ranmore Global Equity Fund Locations: overvalued U.S, Hong Kong, United States, Carrefour, China

☆ Flutter Entertainment unveils $5 billion share buyback, shares surge
▼ + stars: | 2024-09-25 | 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 EmailFlutter Entertainment unveils $5 billion share buyback, shares surgeFlutter CEO Peter Jackson joins 'Squawk on the Street' to discuss the company's raised guidance, how it is using AI, trends in sports gambling, and much more.

Persons: Peter Jackson

☆ Stocks making the biggest moves midday: Flutter Entertainment, Hewlett Packard Enterprise and more
▼ + stars: | 2024-09-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Flutter Entertainment — The sports betting stock rose more than 6% after the FanDuel parent announced a share buyback program of up to $5 billion. Hewlett Packard Enterprise — The tech stock jumped more than 5% after Barclays upgraded the firm to overweight from equal weight. KB Home reported $2.04 in earnings per share, or 2 cents short of consensus estimates, according to analysts surveyed by LSEG. Analysts had expected $1.14 in earnings per share on revenue of $176.2 million, according to FactSet. The workplace uniform company sees revenue of $10.22 billion to $10.32 billion for fiscal 2025, compared to its prior guidance of $10.16 billion to $10.31 billion.

Persons: HPE, Morgan Stanley downgrades, Adam Jonas, Ford, Bilibili, Warren Buffett's Berkshire Hathaway, Cintas, — CNBC's Sean Conlon, Yun Li, Alex Harring, Hakyung Kim, Lisa Han, Pia Singh Organizations: Hewlett Packard Enterprise, Barclays, Juniper Networks, General Motors, Ford —, JPMorgan, . Bank of America, LSEG, Trump Media & Technology Locations: Bilibili —

☆ FAA chief says Boeing and SpaceX should be treated the same after Elon Musk accuses regulator of playing favorites
▼ + stars: | 2024-09-25 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

FAA administrator Mike Whitaker said Boeing and SpaceX should be treated equally after Elon Musk attacked the regulator for fining his rocket company "for trivia" and said it should focus on Boeing's Starliner issues instead. In a post on X last week, Musk railed against the FAA's proposed $633,000 fine for SpaceX over two instances where the rocket company violated its launch licenses. Advertisement"NASA deemed the Boeing capsule unsafe for astronaut return, turning, out of necessity, to SpaceX, yet instead of fining Boeing for putting astronauts at risk, the FAA is fining SpaceX for trivia," the billionaire SpaceX founder wrote. SpaceX is also engaged in a war of words with the aviation regulator over delays to the next launch of Starship, the giant rocket Musk wants to use to travel to Mars. The FAA and SpaceX did not immediately respond to requests for comment sent outside normal working hours.

Persons: —, Elon Musk's, Mike Whitaker, Elon Musk, Whitaker, Musk, Butch Wilmore, Sunita Williams, Starliner Organizations: Service, Federal Aviation Administration, Boeing, SpaceX, FAA, Business, Reuters, NASA Locations: Texas

☆ American Eagle sues Amazon over alleged 'knock-offs' of Aerie products
▼ + stars: | 2024-09-25 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

A shopper searching for Aerie products on Google will see sponsored and organic links to Amazon's website, the lawsuit says. Clicking on a link leads to an Amazon webpage that "displays only knock-offs and 'dupes'" of Aerie products, including sweatshirts and exercise shorts, American Eagle alleges. "These statements are patently false because customers cannot shop for Aerie products on Amazon." Many of the alleged Aerie knock-offs referenced in the lawsuit are sold by third-party sellers on Amazon's online marketplace. American Eagle is seeking an injunction and financial damages based on Amazon's alleged trademark infringement.

Persons: Arie, It's, Birkenstock, didn't Organizations: Eagle Outfitters, Amazon, Eagle, Southern, of, of New York ., Google, Daimler AG, Mercedes, Benz, counterfeiters Locations: U.S, of New York

☆ Man Group focused on credit in particular, says CFO
▼ + stars: | 2024-09-25 | 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 EmailMan Group focused on credit in particular, says CFOAntoine Forterre, the CFO at Man Group, discusses the company's strategy.

Persons: Antoine Forterre Organizations: Man, Man Group

☆ Mark Zuckerberg's prototype AR shades get a cool review from Nvidia's Jensen Huang
▼ + stars: | 2024-09-25 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

The chunky black frames, demonstrated by CEO Mark Zuckerberg, are still in development with no timeline on launch. However, the Orion shades represent a first look at the company's holographic AR glasses ambitions. They represent the convergence of the company's Quest line of headsets and its Ray-Ban Meta Smart Glasses, which Jim Cramer has been praising for months and months now. During his Connect keynote Wednesday, Zuckerberg shared a montage of user experiences with the Orion glasses, showing first impressions from notable celebrities. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: —, Mark Zuckerberg, Jim Cramer, Zuckerberg, Orion, Jensen Huang, Huang, it's, Jim Cramer's, Jim, Manuel Orbegozo Organizations: Meta, Orion, Nvidia, Apple, CNBC Locations: Menlo Park , California, U.S

☆ A new residential cruise ship plans to sail around the world every 2½ years. Cabins start at $11 million.
▼ + stars: | 2024-09-25 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

Ulyssia ResidencesUlyssia doesn't have a ship yet, and the vessel acquisition process has become an infamously difficult challenge for similar startups. Residential cruise companies can either build a new ship (as Ulyssia plans to) or refurbish an older used vessel. Life at Sea Cruises intended to purchase a used vessel for its three-year sailing. Villa Vie successfully purchased a more-than-30-year-old vessel for its never-ending cruise, which could set sail in the coming days. However, its launch has already been delayed four months amid issues like the ship's aging rudder stocks and certifications.

Persons: Ulyssia, Meyer Werft, they'd, Villa Vie Organizations: Sea Cruises

☆ Aldi shoppers have spoken: These are the best things to buy at the chain right now
▼ + stars: | 2024-09-25 | by ( Paige Bennett | ) www.businessinsider.com time to read: +6 min

Winners in each category are based on votes from Aldi shoppers in the US — this year, the chain collected 37,000 responses. Kristina LopezIn the "Feel Good Pick" category, shoppers voted for their favorite "balanced swap." Many shoppers want Huntington Home Swedish dishcloths back on shelvesIn the new "Encore" category, shoppers voted for which limited-edition Aldi item they'd like to see return to shelves. Shoppers gave the crown to Specially Selected Napa Valley cabernet sauvignonFor years, Aldi has been famous for its budget-friendly wine selection. This year, the title of best Specially Selected wine went to the Napa Valley cabernet sauvignon that usually retails for about $15.

Persons: —, Brian Custer, Anthony St, Clair, It's, Angus, Angus ribeye, Kristina Lopez, Caesar, might've Organizations: Service, Aldi, Business, Shoppers, Voters, The, Mama, of Fame, Aldi Aldi, Huntington, Huntington Home Locations: New York, Gouda, The Netherlands, Aldi's, romaine, Asiago, Atlantic, Napa, sauvignon

☆ U.S. Senate committee faults Boeing safety practices, FAA oversight
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +3 min

Boeing CEO Dave Calhoun testifies before a subcommittee of the Senate Energy and National Resources Committee on the company's safety culture, following a number of recent incidents on Boeing airplanes, Washington, DC, June 18, 2024. A U.S. Senate panel investigating Boeing 's safety culture on Wednesday faulted the planemaker's quality practices and oversight by the Federal Aviation Administration citing documents obtained in an ongoing investigation. The Senate Permanent Subcommittee on Investigations, which is holding a hearing Wednesday with FAA Administrator Mike Whitaker, said Boeing workers continue to feel pressure to prioritize speed of production over quality. Boeing said it has "taken important steps to foster a safety culture that empowers and encourages all employees to share their voice, but it will require continuous focus." The FAA did not comment but Whitaker said at a House hearing Tuesday that Boeing needed to undertake significant safety culture improvements that might not be completed for years.

Persons: Dave Calhoun, Mike Whitaker, Whitaker, Whitaker's Organizations: Senate Energy, National Resources Committee, Boeing, U.S, Senate, Federal Aviation Administration, Investigations, Democratic, FAA, Alaska Airlines, Justice Department, DOJ Locations: Washington, DC

☆ Oil prices steady as China stimulus hopes fade, U.S. crude stockpiles fall
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +2 min

General view of the Towers and oil platforms of the State oil Company of Venezuela, Venezuelan oil Company SA. Oil prices steadied on Wednesday after rising in the previous session on fading excitement for the economic stimulus in China, the world's biggest crude importer, though an industry report showing falling U.S. crude and fuel inventories supported the market. Analysts, however, warned that more fiscal help was needed to boost confidence in the world's second-largest economy, which reduced the initial impact on oil prices from the announcement. Still, declining U.S. crude oil and fuel stockpiles provided some support for the market, which has generally risen since prices fell to their lowest since 2021 on Sept. 10. U.S. oil stockpiles dropped by 4.34 million barrels last week while gasoline inventories fell by 3.44 million barrels and distillate stocks fell by 1.12 million barrels, according to market sources citing American Petroleum Institute figures on Tuesday.

Persons: Ibrahim Qubaisi, Israel, Qubaisi Organizations: State, Company, Venezuelan, Company SA, Brent, . West Texas, China, American Petroleum Institute, Hezbollah, Wednesday, Israel, Gulf Locations: Venezuela, China, U.S, East, Iran, Lebanon, Israel, Florida, Texas , Louisiana, Mississippi

☆ DoorDash is trying a new way of making deliveries — and it doesn't involve gig workers
▼ + stars: | 2024-09-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

The delivery service is working with at least two local delivery providers, one in Austin, Texas, and another in Fresno, California, through its Local Commerce Service Partner Program. That's a big change from the gig workers that DoorDash and other delivery services have largely built their businesses on. Uber, Lyft, Instacart, and other delivery companies have also relied on gig workers to build their businesses, leading millions of people in the US into the gig economy. Gig workers lack many of the benefits and legal protections that employees get. The amount delivery services pay gig workers has been going up in some cities, too.

Persons: —, DoorDash Organizations: Service, Local Commerce, Business, Fresno Logistics, UC Berkeley Locations: Austin , Texas, Fresno , California, Fresno, Fresno , CA, Austin, New York City, Seattle

☆ Things are looking up for the economy. So why are consumers still unhappy?
▼ + stars: | 2024-09-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, the economy is heading in the right direction, but consumers aren't buying it . Things seem to be going really well for the economy, right? Consumers aren't feeling bullish about the economy these days. Last time around, pesky inflation was keeping things like groceries and housing costs high, even as the rest of the economy showed improvement. China's stimulus plan to boost its ailing economy sent emerging markets indexes to their highest level since April 2022 .

Persons: —, Rebecca Zisser, We've, Insider's Juliana Kaplan, Spencer Platt, Getty, Tyler Le, We'll, Morgan, Mike Wilson, Steven Blitz, China's, aren't, Chelsea Jia Feng, weren't, Natalie Ammari, that's, Ron Sherman, Gen, Mark Zuckerberg, Dan DeFrancesco, Jack Sommers, Jordan Parker Erb, Amanda Yen Organizations: Service, Business, Federal Reserve, Conference Board, Fed, Chelsea, Spotify, Visa, US Justice Department, Prosecutors, Meta Locations: Austin , Texas, New York, London

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Disney, Ford, General Motors, Duolingo, Roblox, Alphabet & more
▼ + stars: | 2024-09-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Wells Fargo upgrades Baker Hughes to overweight from equal weight Wells says it likes the oil service company's business model. Morgan Stanley upgrades AutoNation to overweight from equal weight Morgan Stanley says AutoNation is well positioned in a bumpy macroeconomic environment. Morgan Stanley reiterates Apple as overweight Morgan Stanley says it's remaining cautious after checks of iPhone 16 demand for Apple. Morgan Stanley downgrades Ford to equal weight from overweight and General Motors to underweight from equal weight Morgan Stanley downgraded several automakers on Wednesday and said it's concerned about market share losses. Morgan Stanley reiterates Nike as equal weight Morgan Stanley raised its price target on Nike to $82 per share from $79 ahead of earnings on October 1.

Persons: Wolfe, Sallie Mae, it's bullish, Wells, Baker Hughes, Piper Sandler, Tesla, Piper, Morgan Stanley, AutoNation, Mike Manley, Duolingo, MARA, CORZ, Piper Sandler downgrades Tyson, it's, Oppenheimer, GOOG's, Baird, Locker Baird, Apple, TD Cowen downgrades Expedia, Cowen, Goldman Sachs, Goldman, Morgan Stanley downgrades Ford, Roblox Organizations: APO, Bank of America, Macquarie, Tyson Foods, Barclays, Hewlett Packard Enterprise, DOJ, Google, Foot, Apple, ISI downgrades, Pacific, Evercore, UNP, Disney, JPMorgan, Oil & Gas, Petrobras, Motors, GM, Citi, Investors, Nike Locations: CLSK, Foot Locker, Mexico, China, Fortnite

☆ Qatar's Ooredoo Group announces a $550 million finance deal
▼ + stars: | 2024-09-25 | 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 EmailQatar's Ooredoo Group announces a $550 million finance dealAziz Aluthman Fakhroo, group CEO of the telecom company, speaks to CNBC's Dan Murphy about its plans to accelerate its data center business.

Persons: Aziz Aluthman Fakhroo, CNBC's Dan Murphy

☆ Surging AI demand could cause the world's next chip shortage, report says
▼ + stars: | 2024-09-25 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The last major semiconductor shortage happened during the Covid-19 pandemic amid supply chain disruption and a rise in demand for consumer electronics as people were forced to stay and work at home. These are often referred to as AI-enabled devices and companies from Samsung to Microsoft have released such products. Bain said demand for GPUs and AI consumer electronics could be the cause of a chip shortage. Bain & Company noted that the semiconductor supply chain is "incredibly complex, and a demand increase of about 20% or more has a high likelihood of upsetting the equilibrium and causing a chip shortage." "The AI explosion across the confluence of the large end markets could easily surpass that threshold, creating vulnerable chokepoints throughout the supply chain," the report added.

Persons: Bain, Anne Hoecker Organizations: Bain & Company, Technology, Nvidia, Qualcomm, Samsung, Microsoft, CNBC Locations: Americas

In addition to the Quest 3S, Meta on Wednesday also showcased its latest prototype of augmented-reality smart glasses and announced a flurry of new features for its Meta AI chatbot. What it doesMetaA Meta representative said the "S" in Quest 3S stands for "start" — as in getting started with VR. Orion is Meta's first "fully-functioning" prototype AR glasses, Zuckerberg said, and the device is tethered wirelessly to a small "puck." The Orion glasses are an improvement on Project Nazare, prototype smart glasses that Zuckerberg announced in 2021, when the company changed its name from Facebook. As part of Wednesday's event, Meta announced new Meta AI features for its Ray-Ban smart glasses.

Persons: Mark Zuckerberg, David Paul Morris, Meta, Apple hasn't, Zuckerberg, Meta's, Cristiano Amon, Nurphoto, EssilorLuxottica, Ban, Ray, Chen Miller, Judi Dench, John Cena, Keegan, Michael Key, Kristen Bell, Siri, OpenAI, ChatGPT Organizations: Meta, Inc, Chase Center, Bloomberg, Getty, Labs, Apple, VR, Amazon Music, Amazon, Quest Pro, Orion, Facebook, Qualcomm, Samsung, Google, Nurphoto, CNBC, IDC, Wednesday Locations: San Francisco , California, Menlo Park , California, Oculus, New Zealand

☆ Uber is bringing robotaxis from China's WeRide onto its platform — but not in the US
▼ + stars: | 2024-09-25 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

Uber is partnering with Chinese self-driving firm WeRide to add more robotaxis to its app. The ride-hailing giant will launch its first service with WeRide in Abu Dhabi later this year. AdvertisementUber is partnering with a Chinese tech giant to add more robotaxis to its app — but don't expect them to come to the US anytime soon. The ride-hailing company announced a partnership with Chinese self-driving firm WeRide on Wednesday, which will allow users to access WeRide's autonomous vehicles via the Uber app. The partnership is expected to launch later this year in Abu Dhabi, where WeRide already has a robotaxi fleet in operation.

Persons: Uber, —, WeRide Organizations: Service, Business Locations: Abu Dhabi

☆ Meta Connect 2024 live updates: Mark Zuckerberg expected to talk about AI and give update on Ray-Ban smart glasses in keynote speech
▼ + stars: | 2024-09-25 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Persons: Mark Zuckerberg, Meta's Ray, —, it's Organizations: Service, Meta, Business

☆ Leaked email shows Twitch is not following Amazon's new RTO policy
▼ + stars: | 2024-09-25 | by ( Eugene Kim | ) www.businessinsider.com time to read: +1 min

Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe first big exception to Amazon's strict RTO policy is here. Twitch, the video streaming company Amazon acquired in 2014, will not be following the new RTO mandate, according to an internal email obtained by Business Insider. Twitch CEO Dan Clancy wrote in the email that the new changes in Amazon's RTO policy "do not apply to Twitch."

Persons: —, Dan Clancy Organizations: Amazon, Service, Business, Twitch

☆ Promises of 'passive income' on Amazon led to death threats for negative online review, FTC says
▼ + stars: | 2024-09-25 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

The sender said Sanford, who lives in Springfield, Missouri, would only only be safe if he removed a negative online review. Months earlier, Sanford had left a scathing review for an e-commerce "automation" company called Ascend Ecom on the rating site Trustpilot. The FTC is seeking monetary relief for Ascend customers and to prevent Ascend from doing business permanently. The FTC has also pledged to go after companies that try to suppress negative reviews online as part of new rules issued this year targeting fake reviews. Formed in 2021, Ascend has done business under several entity names with operations registered in states including Texas, Wyoming and California.

Persons: Jamaal Sanford, Sanford, it's, Will Basta, Jeremy Leung Organizations: Federal Trade Commission, FTC, YouTube Locations: Robbinsville , New Jersey, Russian, Springfield , Missouri, dropshipping, Texas , Wyoming, California

☆ How Apple and Microsoft’s trusted brands are being used to scam you online
▼ + stars: | 2024-09-25 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +7 min

No, it's not really Apple or Microsoft popping up on your screen to tell you your computer has been infected. "Because, who doesn't know Microsoft or Apple as a brand?" Here's what people should know to protect themselves from scams targeting commonly used, trusted tech brands:Never assume any online ad is authenticPeople can be duped in a number of ways. Sometimes simply opening the attachment could infect a consumer's computer with malware. If, for instance, you called a number for "Microsoft" or "Apple" and gave usernames and passwords, change those.

Persons: it's, It's scammers, Cliff Steinhauer, Nati Tal, Bing, Malwarebytes, Jérôme Segura, Segura, Jim Routh, It's, Routh Organizations: National Cybersecurity Alliance, Microsoft, Apple, Guardio Labs, McAfee, PayPal, Norton

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