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☆ How buyers and sellers are navigating real estate’s seismic shake-up
▼ + stars: | 2024-08-19 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

Traditionally, home sellers in the US have been responsible for paying real estate commissions. The standard 5% or 6% commission was usually split between the seller’s broker and the buyer’s broker, referred to as cooperative compensation. After August 17, sellers and their agents are prohibited from advertising how much they would pay to a buyer’s agent in the MLS. Given the new rules, McMahan said she might reconsider her offer of a 3% buyers’ broker commission the next time she sells her home. These agreements are intended to inform buyers that they may be responsible for covering their Realtor’s commission payment themselves if a seller chooses not to offer it.

Persons: Dana McMahan, ” McMahan, “, McMahan, ”, —, David Ryder, Bill Colson, Colson, ” Colson Organizations: CNN, National Association of Realtors, Realtors, MLS, ”, NAR, Bloomberg, Getty, Maryland, Navy Locations: Louisville , Kentucky, Blue Ridge , Georgia, Maryland, Georgia

☆ Judge temporarily blocks sports streaming service Venu, siding with Fubo on antitrust concerns
▼ + stars: | 2024-08-16 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Discovery and Fox from launching their sports streaming service, Venu, according to court filings. The temporary injunction, granted in response to a lawsuit brought by Fubo TV , comes just weeks ahead of the start of the National Football League season. Fubo, an internet TV bundle akin to the traditional pay TV package, alleged in its lawsuit that Venu was anticompetitive and would upend its business. Discovery, Fox and Disney's ESPN announced the formation of the joint venture streaming service in February. On Friday, Fubo said it intends to move forward with its antitrust lawsuit against the companies for their anticompetitive practices.

Persons: Venu, David Gandler, Fubo, Sen, Elizabeth Warren, Bernie Sanders, Joaquin Castro, Venu Sports, Judge Margaret Garnett, Garnett, " Garnett Organizations: NFL, ESPN, Chicago Bears, Minnesota Vikings, Soldier, Disney, Warner Bros . Discovery, Fox, Fubo TV, National Football League, Warner Bros, Discovery, Disney's ESPN, National Basketball Association, National Hockey League, Major League Baseball, ABC, TNT, TBS, Paramount, CBS, NBC Locations: Chicago, U.S, Texas

☆ Shake Shack founder shares the 2 interview questions he likes asking job candidates: They make you ‘share the real you’
▼ + stars: | 2024-08-15 | by ( Alex Koller | ) www.cnbc.com time to read: +1 min

When Shake Shack founder Danny Meyer interviews job applicants, he likes to ask a couple of his favorite questions. "It gives me a chance to actually see the person and see how they see themselves." Meyer's other favorite job interview question, he said: Tell me about something that happened in your life, before you turned 12, that you think had more of an impact on you today than anything else. "The point is that whatever that story is, you then get a chance to talk about how did it change who you are today," he said. "I'm looking for honesty, vulnerability, willingness to grow, looking maybe for a little growth mindset."

Persons: Danny Meyer, Adam Grant, Meyer, who's Organizations: Shake, Wharton School, University of Pennsylvania, New, Square Hospitality Locations: New York

Several analysts raised their ratings and price targets on Starbucks a day after news that Chipotle CEO would take over at the coffee chain. Starbucks shares rallied on the news, while Chipotle shares fell. He also lowered his price target on shares to $685 from $750, which implies just 6% upside from Monday's close. Chipotle shares pulled back of 7% comes as decelerating trends and a sector rotation already impacted Chipotle's multiple. Since Niccol took the position of CEO in 2018, Chipotle shares surged more than 770%.

Persons: Bernstein, Fatima Boolani, Boolani, — Hakyung Kim, Eli Lilly Eli Lilly's, Berenberg, Lilly, Kerry Holford, " Holford, Morgan Stanley, Keith Weiss, Weiss, Hakyung Kim, Brian Niccol's, Danilo Gargiulo, Gargiulo, Niccol, Chipotle, Laxman Narasimhan, Brian Niccol, Baird, David Tarantino, Fred Imbert Organizations: CNBC, Citi, Palo Alto, Palo Alto Networks, pharma, Intuit, Starbucks, Deutsche Bank, SBUX Locations: Tuesday's

☆ Kamala Harris Has Shed Biden's Economic Record, Could Beat Out Trump
▼ + stars: | 2024-08-14 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

When people say they're concerned about "the economy," it can mean a lot of things — grocery prices, gas prices, housing prices, healthcare. For one thing, it's not clear that voters think Harris, as vice president, has had much involvement in Biden's economic policies. People remember the Trump economy as a better time — interest rates were lower, prices were lower, houses seemed more affordable. AdvertisementThe task for Harris now is to lay out an economic identity and agenda before others beat her to it. The Trump campaign and the GOP are trying to tie her to the negative feelings around the Biden economy, to affordability and inflation.

Persons: Kamala Harris, Joe Biden's, Harris, Kamala, Donald Trump, Bill Clinton's, Jim Carville, —, it's, Biden, Trump, Harris — Trump, Evan Roth Smith, Smith, Eli Yokley, Mark Zandi, Tim Walz, Minnesota, Yokley, Whit Ayres, Donald Trump's, she's, He's, Bharat Ramamurti, Emily Stewart Organizations: Democratic, Republican, Financial Times, University of Michigan's Ross School of Business, Trump, Biden, Lake Research Partners, Democrat, Voters, Morning, Federal, Moody's, House, Democrats, National Economic, GOP, Business Locations: China, California, Las Vegas

☆ How Analyst Dylan Patel gets inside Nvidia to make connections from the semiconductor industry to the tech it enables
▼ + stars: | 2024-08-14 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +8 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. SemiAnalysis gets deep into the weeds on graphics processing units, from the base of the supply chain to the end-users building the AI models that require so many specialized chips. AdvertisementThe team consists of people across the entire supply chain, geographically and technically. So we have the entire view of the supply chain, from manufacturing, up to models. The other place I like to look a lot is random suppliers that are very small in niche parts of the supply chain, or suppliers of suppliers.

Persons: —, Jensen Huang isn't, Dylan Patel, SemiAnalysis, Sam Altman, Patel, Sundar, Altman, Blackwell, Nvidia's, They've, they're Organizations: Service, intel, Google, Business, BI, Nvidia, Microsoft, AMD, Meta Locations: US, Japan, Singapore, Taiwan, France

☆ Cramer says new Starbucks CEO Brian Niccol is key to the company's turnaround after management shake-up
▼ + stars: | 2024-08-13 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Tuesday discussed Starbucks ' management shake-up, saying the new leadership will be crucial to turn the business around after the ubiquitous coffee chain announced it would replace CEO Laxman Narasimhan with Brian Niccol, who is currently the CEO of Chipotle . "Brian Niccol is the key to a new Starbucks, one that can reclaim its old mantle as the 'third place' — you just need to know that this turnaround can't happen overnight," he said. According to Cramer, Narasimhan wasn't the right person for the role, saying Starbucks needed an executive familiar with the fast-food industry to effectively solve its issues. Niccol's record at Chipotle makes him a great fit for the role, Cramer said. "No, Starbucks brought in Brian Niccol, the man who almost singlehandedly turned around Chipotle, to run the business.

Persons: CNBC's Jim Cramer, Laxman Narasimhan, Brian Niccol, Cramer, Narasimhan, Niccol Organizations: Starbucks, McKinsey, PepsiCo, Chipotle Locations: U.S, China, Chipotle

☆ Watch CNBC's full video on the Starbucks shake-up
▼ + stars: | 2024-08-13 | 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 video on the Starbucks shake-upNancy Tengler, Laffer Tengler Investments CEO and CIO, and Greg Francfort, Guggenheim equity research analyst, and CNBC's Kate Rogers join 'The Exchange' to discuss Starbucks' future in leadership after the coffee giant announced its new CEO.

Persons: Nancy Tengler, Greg Francfort, Kate Rogers Organizations: Tengler

☆ Starbucks Names Chipotle Boss as New C.E.O.
▼ + stars: | 2024-08-13 | by ( Danielle Kaye | More About Danielle Kaye | ) www.nytimes.com time to read: +1 min

The chief executive of Chipotle Mexican Grill is moving over to Starbucks, the coffee chain announced on Tuesday. Brian Niccol, who has held the top position at Chipotle since 2018, will take the helm of Starbucks next month, the company said. He will replace Laxman Narasimhan, whose relatively brief tenure began in March last year, when he became the first chief executive to come from outside the company. Mr. Niccol’s career also includes a stint as chief executive of Taco Bell. Mr. Narasimhan will step down as chief executive and board director immediately, with the chief financial officer Rachel Ruggeri stepping in as interim chief executive until Sept. 9.

Persons: Brian Niccol, Laxman Narasimhan, Niccol’s, Narasimhan, Rachel Ruggeri Organizations: Starbucks, Taco Bell Locations: Chipotle, United States, China

☆ Starbucks is replacing its CEO with the boss of Chipotle in an abrupt management shake-up
▼ + stars: | 2024-08-13 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +1 min

Starbucks CEO Laxman Narasimhan has stepped down effective immediately. Brian Niccol, the current CEO of Chipotle, will replace Narasimhan in early September. This leadership change comes as Starbucks works to turn around its business. Go to newsletter preferences Thanks for signing up! The news comes as Starbucks looks to turn around its business amid faltering sales in recent months.

Persons: Laxman Narasimhan, Brian Niccol, —, Narasimhan Organizations: Starbucks, Narasimhan, Service, Business

☆ 18 of the biggest scandals in Olympic history
▼ + stars: | 2024-08-13 | by ( Erin Mcdowell | Mykenna Maniece | ) www.businessinsider.com time to read: +1 min

Algerian boxer Imane Khelif's sex became the subject of intense scrutiny at the 2024 Paris Olympics. Algerian boxer Imane Khelif's sex was the subject of intense scrutiny throughout the Games. Richard Pelham/Stringer/Getty ImagesAlgerian boxer Imane Khelif faced scrutiny throughout the Olympics due to the spread of misinformation about her sex. However, International Olympic Committee spokesman Mark Adams repeatedly defended Khalif and Yu-ting against the unspecified tests and the scrutiny facing the athletes. Khelif and Yu-ting went on to win gold medals in their respective weight classes.

Persons: Imane, Richard Pelham, Stringer, Imane Khelif, Italy's Angela Carini, Khelif, —, Lin Yu, Mark Adams, Khalif, Adams Organizations: Getty, Khelif, International Boxing Association, IBA, Associated Press, Olympic, AP

☆ Georgia tops college football AP preseason poll for second year in a row
▼ + stars: | 2024-08-13 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +3 min

1 college football team in the annual Associated Press preseason Top 25 poll for the second season running. Georgia received 46 of 62 first-place votes and 1,532 points to comfortably top the poll ahead of the Ohio State Buckeyes, who received 15 first-place votes. 1 for the entirety of the regular season, before being defeated by Alabama in the Southeastern Conference (SEC) championship game. Brett Patzke/USA TODAY Sports/ReutersThe AP poll also tells the story of wider conference realignment in college sports. 4 Texas joins Georgia in the SEC for this season, while Oregon is now a Big Ten member alongside Ohio State.

Persons: Carson Beck, Mykel Williams, Smael Mondon, Malaki Starks, Kirby Smart, Smart, Brett Patzke, Jim Harbaugh, JJ McCarthy –, Nick Saban, Kalen DeBoer, Michael Penix Jr, Rome Odunze, Ole Organizations: CNN, Georgia Bulldogs, Associated Press, Georgia, Ohio State Buckeyes, Oregon Ducks, Bulldogs, Florida State, Orange, Alabama, Southeastern Conference, SEC, year’s College Football, Big, Ohio State, Notre Dame, Michigan, Los Angeles Chargers, Saban, NFL, Rome, . Oregon, Texas, Ole Miss, Penn, Florida, . Missouri, Utah, LSU, Clemson, Tennessee, Oklahoma, . Oklahoma, Kansas State, Miami, Arizona, . Kansas, USC, North Carolina State Locations: Georgia, Texas, Oregon, Florida, Washington, Alabama, ., Iowa

☆ Why Wall Street thinks Brian Niccol is the person to revive Starbucks — and end the Howard Schultz era
▼ + stars: | 2024-08-13 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

In this article SBUXCMG Follow your favorite stocks CREATE FREE ACCOUNTBrian Niccol, CEO of Chipotle Anjali Sundaram | CNBCWall Street believes Brian Niccol is the right choice to turn around Starbucks — and move the chain past the decadeslong Howard Schultz era. Starbucks tapped Niccol as its latest chief executive and chair on Tuesday. Niccol replaces Laxman Narasimhan, who took over the top job in March 2023 after being handpicked by former CEO Schultz. Other analysts wrote glowingly of Niccol, seeing him as the right person to tackle Starbucks' sluggish sales. Some analysts believe that having Niccol, an experienced restaurant CEO, in the driver's seat could mean that Schultz finally moves on.

Persons: Brian Niccol, Chipotle Anjali Sundaram, Howard Schultz, Niccol, Laxman Narasimhan, Schultz, TD Cowen, Andrew Charles, Piper Sandler, Baird, Oppenheimer, Brian Bittner, Brian, David Palmer, Morgan Stanley, Brian Harbour, Mellody Hobson, Niccol's, Hobson, Gordon, Don Bilson, Chipotle, Steve Ells, Bernstein, Danilo Gargiulo Organizations: CNBC, Starbucks, SBUX, Newport Locations: Denver, Newport Beach

☆ Tuesday, August 13, 2024: The Club weighs in on this consumer discretionary stock's CEO shake-up
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: 1 min

Tuesday, August 13, 2024: The Club weighs in on this consumer discretionary stock's CEO shake-upJim and Jeff discuss the positive stock moves after the CEO change for this consumer discretionary stock. They also talk about this cyber security stock ahead of earnings. Finally, they break down the moves in this semiconductor stock.

Persons: Jim, Jeff

☆ NAR settlement set to hit real estate agents this week: Here’s how they’re preparing
▼ + stars: | 2024-08-12 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

Starting August 17, new rules will roll out that overhaul the way Realtors get paid to help people buy and sell their homes. This could pave the way for real estate companies with alternative business models, like flat-fee and discount brokerages, to thrive. Redy, which operates nationwide, is a marketplace that allows real estate agents to bid on home listings, meaning agents could pay homesellers for the opportunity to represent them, cutting into their own commissions. “This is part of this notion of shifting how real estate is always done,” Cofini said. “Consumers don’t know this is coming,” Flyhomes’ chief strategy officer, Adam Hopson, said of the NAR changes.

Persons: Leo Pareja, Kevin Sears, ” Sears, “, Mary Schumann, ” Schumann, TD Cowen, Shelly Cofini, ” Cofini, Flyhomes, Adam Hopson, Will, Madison Mathias, Mathias, I’ve, “ I’m Organizations: CNN — Realtors, Realtors, National Association of Realtors, eXp Realty, NAR, ”, CNN Locations: theory, Minnesota, Chapin , South Carolina

☆ 3 reasons why recession alarms are flashing a false positive, market vet says
▼ + stars: | 2024-08-12 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Fresh anxiety might also spring from the fact that the yield curve is finally disinverting, which is a recessionary signal on its own. "In other words, the Credit Crisis Cycle may be on pause this time." AdvertisementStable credit conditions also contradict a typical reason for why the yield curve inverted in the first place. They are usually correct, Yardeni noted, but not this time around. AdvertisementBut when this happens, shorter-term Treasurys typically roll off quicker than longer ones, Yardeni noted.

Persons: —, Ed Yardeni, Yardeni Organizations: Service, Business, Federal Reserve, Federal, Valley Bank, ICE

☆ These Pennsylvania voters illustrate Harris’ suburban challenge
▼ + stars: | 2024-08-12 | by ( John King | ) edition.cnn.com time to read: +11 min

“A ‘Never Trump’ Republican,” Carty said. “When Biden was on the ticket, I was going to vote for Trump,” Carty said. “Definitely I have more friends saying they’re leaning toward Harris,” Carty said. “My street was rock-ribbed Republican,” Sabatini said in an interview at her home in Media, Pennsylvania. And I don’t plan to vote for him in 2024.”The question is, will she vote for Harris or cast another write-in ballot?

Persons: Bala, Pennsylvania CNN — Carol Carty, Ronald, Reagan, ” Carty, “, Donald Trump, –, it’s, Hillary Clinton, Joe Biden, Trump, Carty, Biden, …, Kamala Harris, Nikki Haley, Harris ’ ascendance, Carol Carty, CNN “, Carty isn’t, Harris, Ohio Sen, JD Vance, Vance, Walz, “ I’m, ”, she’s, Harris ’, Tim Walz, ‘, Harris Cynthia Sabatini, ” Sabatini, George H.W, Bush, Sabatini, Susan Collins of, ” Biden, Harris “, … There’s, ” Joan London, Haley, London, “ I’ve, Condoleezza Rice, Ann Coulter, Elizabeth Dole, Michael Pesce, ” Pesce, It’s, Pesce, John King, ” Harris Organizations: Pennsylvania CNN, today’s Republican Party, Republican Party, Republican, Democratic, GOP, Trump ’ Republican, Trump, CNN, South Carolina Gov, Reagan Republicans, Republicans, Minnesota Gov, ”, Pennsylvania, White, Democratic Party, Bucks County . CNN Locations: Bala Cynwyd, Pennsylvania, Philadelphia, Montgomery County, Bala, Harris . Pennsylvania, Shore of Maryland, Delaware County, Media , Pennsylvania, Susan Collins of Maine, London, Berks County, Republican County, Newtown, Bucks County, Bucks County .

☆ World beaters: Women athletes ruled the Olympics
▼ + stars: | 2024-08-11 | by ( Raquel Coronell Uribe | Raquel Coronell Uribe Is A Breaking News Reporter. | ) www.nbcnews.com time to read: +4 min

Sarah Stier / Getty Images filePerhaps most impressive is the sheer number of medals won by U.S. women. The country in fourth place, with the closest number of medals to the American women, is Great Britain, with 65 medals. Sixty-seven medals is a record for U.S. women and a record for any country’s women in general, beating the U.S. total of 66 in Tokyo. Biles and Suni Lee went 1-2 on the all-around and became the first two all-around women gold medalists to go head-to-head in an all-around final. The women’s U.S. basketball team won its eighth Olympic gold in a row, earning a shoutout from former President Barack Obama on X.

Persons: Katie Ledecky, Sarah Stier, Jordan Chiles, Simone Biles, Suni Lee, Jamie Squire, Chiles, Lauren Scruggs, Amita Berthier, Al Bello, —, Biles, Rebeca Andrade, Amit Elor, Barack Obama, Imane, Ulrik Pedersen, Imane Khelif, Lin Yu, Angela Carini, Khelif, Carini, Lin, ” Organizations: U.S, USA’s, IOC, United States ’, Games, Olympic Games, Boxing Association, Olympic Locations: Paris, Romania, China, Great Britain, Tokyo, Singapore, United, Algeria, Algerian, Taipei, Russian, New Delhi

☆ Recession Fears Are Fueling Stock Market Crash, Wall Street Chaos
▼ + stars: | 2024-08-11 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

While there was some demand for protection against the prospect of volatility reemerging, overall sentiment across Wall Street had gotten more bullish. Until Wall Street can be sure that the consumer will hold on (or not), conviction is easily shaken. After years of weird times and outsize gains, Wall Street is dancing on a knife's edge. After years of weird times and outsize gains, Wall Street is dancing on a knife's edge. What happened on Monday was a sudden realization that the new structure may assert itself before Wall Street imagined it would.

Persons: —, Jerome Powell, we've, they'd, corporates, Dow, Mandy Xu, Cboe's, Wall, Torsten Slok, Slok, Shake, Kevin Gordon, Charles Schwab, they've Organizations: Dow Jones, Bank of Japan, Big Tech, Federal Reserve, Nasdaq, Wall, Apollo Global Management, Corporations, Companies Locations: Asia, Japan, Mexico

☆ George Floyd's brother endorses Harris-Walz, says Minnesota governor is 'built for this'
▼ + stars: | 2024-08-09 | by ( Pilar Melendez | Pilar Melendez Is An Editor On The Nbc News Platforms Team. | ) www.nbcnews.com time to read: +3 min

“He’s built for this,” Floyd, 43, said on Friday. After his brother’s killing, Floyd believes Walz's decision to appoint state Attorney General Keith Ellison to lead the prosecution was a justice-defining moment that ultimately led to convictions against all four officers involved. “At first, he was just a regular governor, just looking like a politician. “For him to take time out of his day to speak at the funeral, I gotta give him kudos,” Floyd said. “Sometimes, it’s the people that you don’t see everyday, those are the people that have the best advice.

Persons: Tim Walz, George Floyd, Philonise Floyd, “ He’s, ” Floyd, Kamala Harris, Walz, Harris, Floyd, Keith Ellison, “, Gov . Walz, Daunte Wright, He’s, “ Mr, ” Organizations: Minnesota Gov, Army National Guard, Gov, Democratic, Democratic National Convention Locations: Minnesota, Minneapolis, United States, Chicago

☆ The UK's Fittest Man consumes 5,000 calories a day — mostly carbs. He shares how he trains, eats, and recovers to prepare for the CrossFit games.
▼ + stars: | 2024-08-09 | by ( Rachel Hosie | ) www.businessinsider.com time to read: +5 min

Read previewHarry Lightfoot, 25, is the UK's Fittest Man for 2024 and is set to compete at this year's CrossFit Games, which kick-off on Thursday. Lightfoot only started CrossFit at the age of 18 because he thought it would help his rugby career. After finishing first in his country's CrossFit semi-finals, he earned the title of UK's Fittest Man for 2024. "We all come together and we do the same thing, which is really, really cool. Harry Lightfoot does a range of activities as part of his CrossFit training.

Persons: —, Harry Lightfoot, Lightfoot, he's, aren't, He's Organizations: Service, Business, CrossFit Locations: carbs

LONDON — European stocks closed higher on Friday as global equity markets looked to rebuild from the recent sell-off. Global markets have been volatile this week as they have tried to shake off Monday's rout. The initial sell-off was in part triggered by separate U.S. jobs data last week coming in weaker than expected. Both moves have led analysts to caution that markets may have outsize reactions to data releases and central bank commentary through August — typically a volatile month for stocks. Asia-Pacific markets were mostly higher on Friday.

Persons: — Organizations: City of, LONDON Locations: City, City of London, U.S, Asia, Pacific

☆ Boeing's new outsider CEO Ortberg takes the helm, this time from the factory floor
▼ + stars: | 2024-08-08 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +8 min

Aerospace veteran Robert “Kelly” Ortberg becomes Boeing’s new CEO on Thursday with a singular mission: restoring the reputation of a U.S. manufacturing icon. Boeing's new CEO, Robert "Kelly" Ortberg. Ortberg’s Day 1 activity is walking the floor of Boeing’s factory in Renton, Washington, where it builds its bestselling but problematic 737 Max. The airline’s CEO hinted at the big feat Ortberg has ahead of him. “We look forward to working with Kelly Ortberg in his efforts to return Boeing to its place as the leading American aerospace company,” CEO Bob Jordan said in a written statement.

Persons: Robert “ Kelly ” Ortberg, Robert " Kelly, Ortberg, ”, Rockwell Collins, Richard Aboulafia, ” Ortberg, Boeing’s, Butch Wilmore, Suni Williams, Ron Epstein, “, isn’t, ” Jon Holden, Dave Calhoun, Calhoun, Dennis Muilenburg, Max, Chicago —, Kelly Ortberg, Bob Jordan, —, Michael Sheetz Organizations: Boeing, AFP, Getty, Ortberg’s, National Transportation, Air Force One, NASA, SpaceX, International Space, Airbus, Bank of America, International Association of Machinists, Aerospace Workers, Arlington , Virginia —, ”, Southwest Airlines Locations: U.S, Renton , Washington, Portland , Oregon, “, Washington state, Oregon, Arlington , Virginia, Chicago, Seattle, American

☆ Jeremy Siegel backs off on calls for the Fed to do an emergency interest rate cut
▼ + stars: | 2024-08-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Wharton School Professor Jeremy Siegel no longer thinks it's vital for the Federal Reserve to implement an emergency interest rate reduction, but still wants policymakers to cut quickly and aggressively. "Obviously, I wanted to shake things up," Siegel said of his call for an intermeeting move. However, those expectations have been volatile as investors watch how quickly the Fed thinks it should ease policy. An emergency cut under these circumstances is "just not the way Jay Powell does things," Siegel said. "But Jay Powell has done things way too slow, certainly on the way up, and I just want to make sure he doesn't make the same mistakes on the way down."

Persons: Jeremy Siegel, Siegel, Jerome Powell, Powell, Jay Powell Organizations: Wharton, Federal Reserve, CNBC Locations: WisdomTree

☆ Middle East wealth funds are scrambling to rescue their big bets on the future
▼ + stars: | 2024-08-08 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. A particular focus for these funds built on the back of petrodollars has been to build ownership and influence in the tech sector. FETHI BELAIDOver the past week, PIF and Mubadala have been busy figuring out what to do when their unbridled ambitions for tech companies face reality. Reports from the Financial Times and Bloomberg have shone a light on efforts being made by the sovereign wealth fund to boost returns in European startups in which it has invested billions of dollars. AdvertisementSeveral of these nascent tech companies, such as the insurance firm WeFox, have been bruised by shifting sentiment in the markets in recent years.

Persons: —, Abu Dhabi's Mubadala, SoftBank's, ByteDance, Prince Mohammed bin Salman, Peter Rawlinson, Lucid, John Keeble, Rawlinson, PIF, it's, Mubadala Organizations: Service, Saudi, Public Investment Fund, Business, PIF, Financial Times, Bloomberg Locations: Middle, petrodollars, Saudi, California

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