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☆ The biggest winner from Tesla and Alphabet earnings? Jim Cramer says it's Nvidia
▼ + stars: | 2024-07-24 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

What we learned from Tesla and Alphabet earnings gave us reasons to remain upbeat about Nvidia shares despite another brutal tech sell-off . Nvidia was the "big winner" Tuesday evening, Jim Cramer said Wednesday on CNBC. The Club stock was down only 3% at the time of Jim's comments. Following an earnings miss that pressured Tesla stock, CEO Elon Musk sang Nvidia's praises. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Tesla, Elon Musk, Musk, we've, ChatGPT, Musk's, Sundar Pichai, Pichai, Nvidia's, Blackwell, Jim, Jim Cramer's, Jensen Huang, Cheng Organizations: Nvidia, CNBC, The Club, Nasdaq, Microsoft, Devices, Google, Management, Club, AFP, Getty Locations: Taipei

☆ DEI, explained: What’s the term Republicans are using to attack Kamala Harris?
▼ + stars: | 2024-07-24 | by ( Nicquel Terry Ellis | ) edition.cnn.com time to read: +14 min

Critics say DEI programs are discriminatory and attempt to solve racial discrimination by disadvantaging other groups, particularly White Americans. These diversity training efforts emerged around the time that affirmative action began by executive order from President John F. Kennedy. Despite the backlash against DEI programs and initiatives, many companies are standing firm in their support for DEI. And 71% of people surveyed said they think DEI training is important to “creating a positive workplace culture.”What does DEI look like at work? Thrivent’s DEI training teaches employees how to understand and bridge cultural differences in the workplace, Baker said.

Persons: Kamala Harris, Tim Burchett, CNN’s Manu Raju, Joe Biden, Harris, ” Burchett, CNN’s Wolf Blitzer, Susan Rice, “, ” Rice, didn’t, Bill Ackman, Elon Musk, it’s, Daniel Oppong, ”, Lyndon Baines Johnson, George Floyd’s, Dominique Hollins, WĒ360, John F, Kennedy, Ronald Reagan, Hollins, ” Hollins, Ipsos, ” Kelly Baker, Thrivent’s, Baker, Thrivent, ” Baker, Ella Washington, ” Washington, Washington, Christopher Rufo, Ryan P, Williams, ‘, ” Williams, Tesla, ” Musk, Musk, Mark Cuban, ” What’s, Ron DeSantis, Republican State Sen, Dave Murman, Sen, Danielle Conrad, ” Conrad, ” CNN’s Athena Jones Organizations: CNN, Democratic, Tennessee Republican, Chronicle, Higher Education, Pew Research Center, Elon, White, Equity, Civil, DEI, Opportunity Commission, Academy of Management Learning, Education, Colleges, Minneapolis police, Companies, College, University of Florida, of Governors, Georgetown University’s McDonough School of Business, Georgetown’s, Student Equity, Disability, Center, Women’s Center, Resource Center, Center for Multicultural Equity, “, Manhattan Institute, New York Times, Claremont Institute, SpaceX, Musk, SEC, Dallas Mavericks, Florida Gov, Higher, Republican State, Nebraska, Nebraska Democratic Locations: Black, Texas, Florida, U.S, Washington, America, ” Cuban, Texas, North Dakota, North Carolina , Tennessee, Utah, Nebraska

☆ China just made another audacious bid to challenge the US as a key Middle East power broker
▼ + stars: | 2024-07-24 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Read previewIn the nine-month war between Israel and Hamas, an unlikely nation has emerged as a key power broker in the Middle East: China. Reconciling the groups with an eye to building a postwar Palestinian government is a diplomatic coup for Beijing, after years of trying to position itself as a power broker in the Middle East. China challenges US might in the Middle EastIn the last few years, China has challenged US influence in the Middle East. In 2023, it helped broker a restoration of diplomatic relations between Iran and Saudi Arabia after decades of proxy conflict. "China also doesn't want to sacrifice much to advance any of its interests in the Middle East," Jon Alterman, an analyst with the Center for Strategic and International Studies, told the US Congress in April.

Persons: —, Fatah, Wang Yi, It's, Ali Wyne, Aaron David Miller, Wyne, Jon Alterman Organizations: Service, Hamas, Reuters, Business, PLO, West Bank, Crisis, Palestinian, Center for Strategic, International Studies Locations: Israel, East, China, Beijing, Gaza, Fatah, Washington, Iran, Saudi Arabia, Saudi, States

☆ Alphabet stock tumbles on mixed earnings results, but Goldman sees 25% upside ahead on AI strength
▼ + stars: | 2024-07-24 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Alphabet stock dropped Wednesday after earnings as Wall Street parsed mixed results. AdvertisementAlphabet stock slid Wednesday as investors digested second-quarter results that beat earnings estimates but fell short in other key areas. The mixed results sent the stock down 5% in Wednesday afternoon trading, but Goldman Sachs analysts say they remain optimistic about the company's artificial intelligence opportunities. Goldman Sachs was upbeat in its analysis, raising Alphabet's price target from $211 to $217 in a note after the company released earnings. AdvertisementGoldman says its optimism comes largely from Alphabet's AI opportunity.

Persons: Goldman Sachs, —, Goldman, Sundar Pichai, Pichai Organizations: Service, YouTube, Wall

☆ Alphabet's earnings show investors are impatient for the data on AI returns. No one has the answer yet.
▼ + stars: | 2024-07-24 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewIn Tuesday's earnings call, investors repeatedly pressed Alphabet's leadership team for more information about how its AI initiatives are performing and how they would generate revenue, but executives remained tight-lipped. In April the CEO of Google DeepMind, Demis Hassabis, said that Google plans to invest more than $100 billion over time to develop AI technology. Advertisement"On the cloud and AI stuff, you know, it's obviously, you know, you know, something which I think will end up being a big driver over time," Pichai said. The company's cloud business crossed $10 billion in revenue for the first time, reaching $10.3 billion — fueled in part by AI demand, Pichai said.

Persons: —, Sundar Pichai, Philipp Schindler chimed, Pichai, Schindler, Demis Hassabis Organizations: Service, Business, Google, AIs, YouTube

☆ Wall Street analysts see more downside ahead for Tesla as latest earnings report lacks 'razzle dazzle'
▼ + stars: | 2024-07-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Wall Street is bracing for a rocky road ahead for shares of Tesla on the heels of a messy second-quarter print. That week Tesla shares rallied more than 27% to briefly erase a year-to-date loss . UBS analyst Joseph Spak noted the current stock price reflects a investors ascribing a "hefty value" to these plans. His $120 price target implies about 28% downside from Tuesday's close. Piper Sandler's Alexander Potter upped his price target to $300 from $205 a share, citing expectations for a faster-than-expected rollout of full self-driving (FSD) capabilities.

Persons: Tesla, Wells Fargo's Colin Langan, Cantor Fitzgerald, Pierre Ferragu, Goldman Sachs, Mark Delaney, Delaney, Joseph Spak, Spak, Toni Sacconaghi, Piper Sandler's Alexander Potter, Baird's Ben Kallo, Stephen Gengaro Organizations: Tesla, UBS, EV Locations: 1H25

☆ How Group Black's $500 million promise to Black-owned media unraveled
▼ + stars: | 2024-07-24 | by ( Lucia Moses | Lara O'Reilly | ) www.businessinsider.com time to read: +16 min

Montaque cofounded Group Black in 2021 with the goal of directing $500 million in advertising money to Black-owned media in its first 18 months. With the pledge, Group Black laid out a plan to steer money to Black media owners and acquire media companies. Bough, Group Black's chief strategy officer, was a former Mondelēz and PepsiCo marketer who presented the CNBC reality show "Cleveland Hustles." Various outlets reported that Group Black mounted bids for media companies including the Sports Illustrated publisher Arena Group, the Paramount-owned BET, Vice Media, and Vox Media. Seven former employees described Montaque as an energetic leader but said he was ultimately ineffective in executing Group Black's mission.

Persons: Travis Montaque, Weeks, Montaque, Bonin, Black, George Floyd, Breonna Taylor, Richelieu Dennis, Dennis, Ursula M, Burns, Randy Brooke, Ursula Burns, Seth Kaufman, Moët Hennessy, Gamble, Ziff Davis, offsites, Gamble —, Spokespeople, Derrick Johnson, Lionel Hahn, Todd Brown, It's, Christopher Kenna, I'm, Samantha Skey, Black's Travis Montaque, Arturo Holmes, Vivek Shah, Bough, Sheila Marmon, Media's Refinery29, Erika Goldring, Richelieu Dennis who's, Kirk McDonald, GroupM Organizations: Black, Cannes Lions, Business, Black's, SHE, Cola, Walmart, PepsiCo, CNBC, Xerox, Getty, Moët Hennessy North America, Procter, Gamble, NAACP, Urban Edge Network, Corporate America, Association of National Advertisers's Alliance, Inclusive, Multicultural, Diversity Media, Penske Media Corp, Zeta, Fox, Everyday Health, Sports, Arena Group, Paramount, BET, Vice Media, Vox Media, Galore Media, Mirror, Marmon, Media Locations: GroupM, America, Soho, Manhattan, Santa Monica, Cannes

☆ Tesla's best bet for growth has nothing to do with cars or AI
▼ + stars: | 2024-07-24 | by ( Nora Naughton | ) www.businessinsider.com time to read: +1 min

Tesla's energy business juiced revenue in the second quarter. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Tesla's energy business was a key revenue driver in the second quarter as EV sales fell and robotaxi initiatives remain as murky as ever. While Tesla's earnings per share fell short of analyst expectations from April to June, revenue outpaced expectations with a record $25.5 billion. This story is available exclusively to Business Insider subscribers.

Persons: —, Tesla Organizations: Investors, Service, Business

☆ A PIP means you've probably already been quiet fired, says management academic
▼ + stars: | 2024-07-24 | by ( Nora Redmond | ) www.businessinsider.com time to read: +4 min

She said she was unexpectedly put on a PIP by her manager several years ago when working in marketing. AdvertisementRymsha explained that many of her former HR business partners hated putting people on them. Quiet firingFor Rymsha, a PIP is an invitation to leave a company. Advertisement"If you get that PIP, you've been quiet fired, probably three to six months ahead of time," she said. Rymsha said often, before a PIP is even issued, employees will gradually see things being taken away from them.

Persons: —, Catherine Rymsha, Rymsha Organizations: Service, Business, University of Massachusetts Locations: Lowell

☆ Frustrated Californians May Be Ready for a Tougher Approach to Crime
▼ + stars: | 2024-07-23 | by ( Tim Arango | ) www.nytimes.com time to read: +1 min

Deodorant, shampoo and underwear are all under lock and key in many stores in California. Retail clerks are often told to ignore shoplifters, after a handful of store employees who confronted thieves were assaulted or killed. Video clips of smash-and-grab crews snatching armloads of merchandise have gone viral. Californians of all political stripes have become fed up with the problems plaguing supermarkets and retail stores, not to mention car break-ins and open-air drug use. Now the state’s lawmakers and voters are weighing what to do.

Organizations: London Breed Locations: California, San Francisco

☆ I was an Amazon software engineer for almost 8 years. I either loved or hated the company — I never felt indifferent.
▼ + stars: | 2024-07-23 | by ( Pooya Amini | ) www.businessinsider.com time to read: +11 min

While working there, I never felt indifferent toward the company; I either loved or hated it. Amazon felt like an engineer-driven company because technical engineers had control over entire projects versus being assigned small tasks by non-technical managers. As a senior engineer, I ran a training on "customer obsession," one of the main "leadership principles" that define Amazon employees. Because there are so many principles, managers could use them in contradictory ways. Amazon on-call shifts were frustrating and exhaustingAt Amazon, most of our product decisions were based on customers.

Persons: —, I've, you've Organizations: Service, Amazon Vancouver, Amazon, Meta, Business, Amazon Web Services, Alexa, . Locations: Amazon Vancouver, Amazonians, Amazon

There are several different types of banks, such as traditional brick-and-mortar banks, online banks, and smaller, local banks. This means that credit unions are more likely to offer good rates than banks, although depending on your local credit union, the best banks might offer better rates. While individual credit unions won't necessarily offer everything a large bank does, credit unions can offer everything from CDs to car loans to safety deposit boxes. Banks vs. Credit Unions FAQsCan anyone become a part of a credit union? Yes, you can get different types of loans, including mortgages, car loans, and lines of credit at credit unions.

Persons: Banks, We'll, Pamela Capalad, they've, BrioDirect, I've, Capalad, You'll Organizations: CFP, AFC, Brunch, U.S . Department of, Treasury, Community, Banks, ., Chevron Locations: United States, you'll

☆ Tesla earnings call live updates: Elon Musk's EV maker to report quarterly earnings today after market close
▼ + stars: | 2024-07-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Tesla is set to report second-quarter earnings after the closing bell on Tuesday. Wall Street is more bullish after Tesla reported better-than-expected deliveries for the second quarter. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla investors are eagerly awaiting the company's second-quarter results as they look for signs that the strongest headwinds have passed after a tough start to the year. The carmaker is set to report financials for the second quarter on Tuesday after the closing bell.

Persons: Tesla, —, Elon Musk Organizations: Service, Elon, Business

☆ Startups that aren't using AI are already obsolete, says the man known as the 'father of modern entrepreneurship'
▼ + stars: | 2024-07-22 | by ( Polly Thompson | ) www.businessinsider.com time to read: +5 min

This story is available exclusively to Business Insider subscribers. "If you're not playing with all the tools and trying to build apps on top of them, you're already obsolete," Blank told BI. "The pieces of the lean startup are just so obvious to me to be automated and then strung together. But then a lot of it won't tell you when it's not working," Blank told BI. From Blank's perspective, one side of entrepreneurship that is safe in the emerging AI world is the role of the visionary founder.

Persons: —, Steve Blank, Blank, It's, it's Organizations: Service, United States Census Bureau, Business, Harvard, Modern Entrepreneurship, Stanford, Silicon, Founders

☆ There's an 'old school' corner of the stock market that looks cheap and should benefit from a coming spending boom, BofA says
▼ + stars: | 2024-07-22 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Analysts say infrastructure investments are cheap relative to the rest of the market. "AI/TMT capex beneficiaries are pricing in strong growth after a year of momentum. "AI adoption has accelerated growth in electrical, thermal, and HVAC manufacturers…But unlike TMT, these sectors haven't priced in as strong growth. As infrastructure investment has slowed, manufacturing activity has only sped up, taxing increasingly older infrastructure, and America's roads, bridges and transportation systems show it. AdvertisementThe Bank of America analysts aren't the first to point to a need for increased attention to US infrastructure and industrialization.

Persons: —, Goldman Sachs, Biden's, Savita Subramanian, Biden, aren't, Richard Bernstein Organizations: Bank of America, Service, Analysts, American Society of Civil Engineers, Republican, of America, Investment

☆ Hearing there's not yet 'the big inflection' on AI needle-moving initiatives: Rosenblatt's Crockett
▼ + stars: | 2024-07-22 | 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 EmailHearing there's not yet 'the big inflection' on AI needle-moving initiatives: Rosenblatt's CrockettBarton Crockett, senior analyst & managing director at Rosenblatt Securities, joins 'Squawk on the Street' to discuss the idea that big tech is rallying due to higher odds of a Democrat winning the general election, the expectations for AI in upcoming earnings reports, and more.

Persons: Rosenblatt's Crockett Barton Crockett Organizations: Rosenblatt Securities, Democrat

☆ The war in Ukraine has 'opened Pandora's box' in Europe, and now new strike weapons are on the way, nuclear weapons expert says
▼ + stars: | 2024-07-22 | by ( Chris Panella | ) www.businessinsider.com time to read: +7 min

The impact of these deep strikes has been eye-opening for Europe and the US, opening "Pandora's box" for more of these capabilities, a nuclear weapons and arms control expert told Business Insider. The conventional weapons include SM-6, Tomahawk, and developmental hypersonic weapons, "which have significantly longer range than current land-based fires in Europe." "The war in Ukraine shows that long-range strikes are a key issue for the defense of Europe," Lecornu posted on X. "These countries knew that long-range weapons were important even before Russia invaded Ukraine, but Russia's war in Ukraine has opened Pandora's Box to more and more military steps," explained Hans Director of the Nuclear Information Project at the Federation of American Scientists. US Navy photo by Mass Communication Specialist 1st Class Jonathan WordPoland, Germany, France, and Italy's new long-range missile plans follow work in the US to quickly develop new long-range strike systems.

Persons: —, Andrew Dickson, Sebastien Lecornu, Lecornu, Hans, Thierry Wurtz, " Kristensen, Jonathan, Zachary Anderson There's, it's, Kristensen, Trump, he'd Organizations: Service, Business, NATO, Army, Artillery, U.S, French, Russia, Federation of American Scientists, Rafale, US, Attack Missiles, US Navy, Jonathan Word, Trump Locations: Ukraine, Russia, Europe, Germany, Australia, Poland, Italy, Moscow, Jonathan Word Poland, France

☆ Ukraine war: European nations turn to conscription as threat of wider war with Russia grows
▼ + stars: | 2024-07-21 | by ( Radina Gigova | ) edition.cnn.com time to read: +12 min

Several European nations have reintroduced or expanded compulsory military service amid Moscow’s mounting threat, part of a range of policies aimed at boosting defenses that are likely to be scaled up even further. Compulsory military service was reintroduced on January 1 this year, after being abolished in 2006. In the UK, the Conservatives floated the idea of military service in their ill-fated election campaign. In Lithuania, for instance, opinions about military service among students vary, said Paulius Vaitiekus, president of Lithuania’s National Students’ Union. However as an alliance we do not prescribe mandatory military service,” Dakhlallah said.

Persons: ”, Robert Hamilton, Vladimir Putin “, Wesley Clark, we’ve, Clark, “, Arturs Pīlācis, Ints Kalnins, Jonas Gahr Støre, Jens Bartnes, ” Bartnes, Max Henrik Arvidson, Boris Pistorius, Thomas Frey, Sean Monaghan, Paulius Vaitiekus, Vaitiekus, Monaghan, Hamilton, it’s, ” Radebo, Mikael Sjoberg, Russia’s, Farah Dakhlallah, Dakhlallah, ” Dakhlallah, ” Monaghan, Donald Trump –, ” Clark Organizations: CNN, Foreign Policy Research Institute, US Army, Allied, Europe, NATO, ” Latvian, Reuters, European Union, Conservatives, Federal, of Defense, Eurasia Program, Center for Strategic, International Studies, Lithuania’s, ’ Union, Finnish Defence Forces, Swedish Armed Forces, Marinette, Ministry of Defense, Bloomberg, Getty Locations: Russia, Ukraine, Kyiv, Europe, Eurasia, Kosovo, Scandinavia, Latvia, ”, Riga, Norway, Norwegian, Germany, B'chel, Lithuania, Ukrainian, NATO, Finland, Soviet Union, Sweden, NATO’s, Swedish, Gotland, Visby, Moscow, Crimea

☆ Wall Street’s Masters of the Universe Are Masters of None in 2024 Race
▼ + stars: | 2024-07-20 | by ( Maureen Farrell | Rob Copeland | ) www.nytimes.com time to read: +1 min

It’s a bad time to be a finance billionaire. Republicans on Wall Street, who had been largely coalescing around former President Donald J. Trump’s efforts to return to office, suffered outright repudiation this week with his pick of Senator JD Vance of Ohio as a running mate. Mr. Vance, a harsh critic of corporate interests and a former venture capitalist, solidified a feeling in the world of high finance that the balance of power in the party had suddenly shifted westward to Silicon Valley. In choosing Mr. Vance, Mr. Trump brushed off personal entreaties from some of the Republican Party’s biggest donors. While accepting his nomination on Wednesday at the Republican convention in Milwaukee, he said the party was done “catering to Wall Street.”

Persons: Donald J, JD Vance, Vance, Trump, Marco Rubio, Doug Burgum, Tim Scott of, ” Organizations: Washington , D.C, Wall, Republican Locations: Washington ,, Ohio, Silicon Valley, Marco Rubio of Florida, North Dakota, Tim Scott of South Carolina, America, Milwaukee

CNN —On a night Republicans projected bravado around their 2024 presidential ticket, Donald Trump started his prime-time address by displaying a rare vulnerability. The former president’s son Eric Trump delivered conservative red meat, much like his brother Donald Trump Jr. had a night earlier. Little mention of Biden (by name)Trump said Thursday night that he would use Biden’s name only once. Thursday night, CNN reported that many senior-ranking White House and campaign officials now privately believe that Biden must abandon his campaign for a second term – and soon. And especially so on its final night, when the politicians mostly gave way to right-leaning celebrities.

Persons: Donald Trump, Trump, “ I’m, ”, “, ” Trump, I’m, laud, Joe Biden’s, Tucker Carlson, Eric Trump, Donald Trump Jr, bemoaned, Corey Comperatore, Butler, Comperatore, Biden, it’s, Axelrod, Melania Trump, Melania, Hulk Hogan, Kid, Dana White, There’s, Hogan, Terry Bollea, couldn’t, he’s, “ He’s, ” Hogan, – Organizations: CNN, Republican National Convention, Democratic, Trump, Gold Star, Republican, Republicans, White, Biden, RNC, Fighting, ”, Democrats Locations: Pennsylvania, Milwaukee, Butler , Pennsylvania, Comperatore, Chicago, Trump, American

☆ Walmart has the advantage for back-to-school — and that's really bad news for this retail stock
▼ + stars: | 2024-07-19 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +10 min

Walmart shares have outperformed the market. Analysts remain overwhelmingly bullish on the stock with more than 80% of analysts rating shares a buy or overweight, according to FactSet. Target shares reflect the strain of the competition. And if Walmart continues to win over wealthier customers, that's more bad news for Target. On Tuesday, KeyBanc Capital Markets analyst Bradley Thomas reiterated that Walmart remains one of his top stock ideas.

Persons: Lindsay Rosner, Piper Sandler, Peter Keith, Keith, Daniel Kurnos, Kurnos, FactSet, Alexis Deladerriere, JLL, Christopher Horvers, JPMorgan's Horvers, Cowen, Oliver Chen, Chen, hasn't, Bradley Thomas, Thomas Organizations: Walmart, Target, Goldman Sachs Asset Management, Analysts, Keith, P Retail, Amazon, Microsoft, Apple, Adobe Analytics, Adobe, Amazon's, Costco, Amazon Prime, Sam's, Paramount, KeyBanc Capital Locations: Wednesday's

☆ Secret Service calls right-wing media attacks on female agents ‘baseless’ and ‘disgusting’
▼ + stars: | 2024-07-18 | by ( Hadas Gold | ) edition.cnn.com time to read: +3 min

CNN —The US Secret Service pushed back Thursday against recent criticism from right-wing media personalities and lawmakers blaming female agents for security failures during the assassination attempt on former President Donald Trump. In a statement Thursday to CNN, the Secret Service blasted misogynist claims that the female agents were incapable of protecting Trump. Such baseless assertions undermine the professionalism, dedication and expertise of our workforce,” Secret Service spokesman Anthony Guglielmi said in a statement. She is the second female Secret Service director in the agency’s history. Associations that represent women in law enforcement have also reacted to the unfounded attacks on female agents with disappointment and alarm.

Persons: Donald Trump, Trump, Elon Musk, Anthony Guglielmi, Kimberly Cheatle, ” Guglielmi, ”, “ Organizations: CNN, Service, Trump, Secret Service, Fox News, Women, Enforcement, International Association of Women Police, National Association of Women

☆ John Deere backs away from diversity and inclusion efforts after a conservative backlash
▼ + stars: | 2024-07-18 | by ( Associated Press | ) edition.cnn.com time to read: +7 min

NEW YORK AP —John Deere says it will no longer sponsor “social or cultural awareness” events, becoming the latest major US company to distance itself from diversity and inclusion measures after being targeted by conservative backlash. The move from the company known on Wall Street as Deere & Co. arrives just weeks after rural retailer Tractor Supply ended an array of its corporate diversity and climate efforts. Both announcements came after backlash piled up online from conservative activists opposed to diversity, equity and inclusion efforts, sponsorship of LGBTQ+ Pride events and climate advocacy. “If it’s so polarizing that people just abandon it, then we all lost.”Legal attacks against companies’ diversity, equity and inclusion efforts have also drawn more attention following the Supreme Court’s 2023 ruling to end affirmative action in college admissions. That doesn’t mean companies will stop their DEI efforts entirely, she added, but they may have to change language or find new workarounds.

Persons: John Deere, Robby Starbuck, Starbuck, John Deere’s, it’s, ”, Eric Bloem, John Boyd , Jr, John C, Deere, Bud Light, aren’t, SHRM, Johnny C, Taylor, Jr, Jen Stark, Donald Trump, Stark Organizations: Deere, Co, Tractor Supply, Conservative, Human Rights, Associated Press, Supply, Human, ”, Black Farmers Association, Deere &, Labor Department, Target, Society for Human Resource Management, LinkedIn, AP, Center for Business, Social, Heritage, Republican Locations: The Moline , Illinois, Brentwood , Tennessee, BSR, U.S

☆ Penn lays off about 100 employees as it focuses on ESPNBet growth
▼ + stars: | 2024-07-18 | by ( Contessa Brewer | ) www.cnbc.com time to read: +2 min

Penn Entertainment will lay off about 100 employees as it focuses on growth for ESPNBet. "This led us to temporarily set aside any potential organizational changes that would typically follow a major acquisition." Penn went on to say it's embarking on a new phase of growth in its interactive business, which include ESPNBet, a $2 billion branding partnership with Disney's ESPN. Penn's release of new ESPNBet features this fall during football season should meaningfully improve its product, Jonas said, and a focus on costs indicate the company's commitment to seeing its investment yield results. Truist has a buy rating on Penn and a price target of $25.

Persons: Jay Snowden, theScore, Snowden, Penn, it's, Barry Jonas, Jonas, Truist Organizations: ESPN, Penn Entertainment, ESPNBet, PENN, CNBC, Disney's ESPN, Donerail, Penn, ESPN Bet Locations: New York

☆ Jamie Dimon: Skills are 'far more important' than a college degree in hiring
▼ + stars: | 2024-07-18 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

Skills are "far more important" than having a college degree for many jobs, he added. Dimon said JP Morgan Chase has eliminated degree requirements for most jobs at the bank and pivoted toward more skills-based hiring. About 80% of JP Morgan Chase's current roles for "experienced hires," or candidates with full-time work experience, don't require a college degree, a company spokesperson confirmed to Fortune. For context, 62% of Americans don't have a college degree, according to the latest Census data. That means degree requirements can lock out millions of job seekers with alternative qualifications from high-paying opportunities.

Persons: Jamie Dimon, Dimon, Morgan Chase, JP Morgan Chase's, It's Organizations: JPMorgan Chase, LinkedIn, Wall Street, Ivy League, McKinsey & Co, Harvard Business School's, Glass Institute, CNBC

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