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President Biden told a group of Democratic governors on Wednesday that he was staying in the 2024 campaign, as the group peppered the president with questions about the path forward after Mr. Biden’s disastrous debate performance last week. After the meeting, a handful of governors spoke with reporters outside the White House, with one, Gov. Kathy Hochul of New York, declaring, “President Joe Biden is in it to win it, and all of us said we pledged our support to him.”Gov. Tim Walz of Minnesota, the chair of the Democratic Governors Association, said: “He has had our backs through Covid, through all of the recovery, all of the things that have happened. The governors have his back, and we’re working together just to make very, very clear on that.”But he added, “A path to victory in November is the No.

Persons: Biden, Biden’s, Kathy Hochul, Joe Biden, Tim Walz, ” Organizations: Democratic, ”, Democratic Governors Association Locations: New York, Minnesota, Covid

CNN —Donald Trump will not be sentenced on his business fraud conviction until September, a New York judge ruled Tuesday in the wake of Monday’s Supreme Court decision on presidential immunity. The ruling could impact the indictments of Trump in the classified documents and Georgia election interference cases as well. Trump’s legal team filed a letter Monday seeking to challenge the former president’s conviction after the Supreme Court ruled that presidents have an absolute immunity from prosecution for core official acts. Will Scharf, an attorney who represents Trump in the immunity case, told CNN Monday night the high court’s ruling “absolutely” impacts the hush money case. Video Ad Feedback Biden reacts to Supreme Court's immunity ruling 04:35 - Source: CNN“Under Trump, this official-acts evidence should never have been put before the jury.

Persons: Donald Trump, Joe Biden’s, Trump, Juan Merchan, Jack Smith’s, –, defendant’s, Attorney Alvin Bragg, Trump’s, Will Scharf, “, ”, Hope Hicks, Biden, Trump ‘, ’ ”, ’ Organizations: CNN, Monday’s, Trump, Manhattan, Attorney’s, Attorney, ” Locations: New York, Georgia, Manhattan, Trump

☆ You may now own a piece of Trump Media – and not even know it
▼ + stars: | 2024-07-02 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —If you’ve got money in the market, you might own a little piece of Trump Media — without even knowing it. Trump Media (DJT), the owner of conservative social media platform Truth Social, announced its addition to the Russell family on Monday. As a result, countless retail investors will now own a piece of Trump Media. These include the $14 billion iShares Russell 3000 ETF (IWV) and the $2.5 billion Vanguard Russell 3000 ETF (VTHR). LinkedIn co-founder Reid Hoffman, a vocal critic of former President Donald Trump, believes Trump Media is really worth just $40 million.

Persons: you’ve, Russell, Donald Trump, doesn’t, Vanguard Russell, ”, Sam Stovall, Stovall, ” Stovall, Reid Hoffman, ” Hoffman, Aniket Ullal Organizations: New, New York CNN, Trump Media, Trump Media & Technology, Vanguard, CFRA Research, Microsoft, Nvidia, Apple, Trump, “, FTSE Russell’s, P, LinkedIn, CNN, & & Locations: New York

☆ Euro zone inflation eases to 2.5% as core print misses estimate
▼ + stars: | 2024-07-02 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

watch nowHeadline inflation in the euro area dipped to 2.5% in June, the European Union's statistics agency said Tuesday, while the closely watched core and services prints held steady. Core inflation, excluding the volatile effects of energy, food, alcohol and tobacco, stayed at 2.9% from the prior month, narrowly missing the 2.8% economists had forecast. Investors will now parse what the latest data means for the trajectory of interest rates in the 20-nation euro zone, following the European Central Bank's initial 25 basis point cut in June. Volatility in the consumer price index has long been expected this year, as choppy base effects from the energy market unwind. In June, year-on-year energy inflation in the euro zone was 0.2%, a sharp switch from earlier in the year when the sector had a strong disinflationary pull.

Persons: Luis de Guindos, CNBC's Annette Weisbach Organizations: Reuters, Inflation, Investors, Central, Tuesday, ECB, Central Banking Locations: Sintra , Portugal

Smith has argued in court filings that the indictment’s allegations against Trump, particularly regarding the fraudulent electors plot, represent a far more sweeping case. The Supreme Court’s opinion did not address the fake electors scheme specifically. Trump called the decision a “BIG WIN!” on social media. What is far more important for Trump is the Supreme Court’s pending decision on his argument for sweeping immunity on charges for his efforts to overturn the 2020 election. Read a full breakdown of the Supreme Court’s January 6 ruling.

Persons: Jose Luis Magana, Donald Trump, Jack Smith, Smith, John Roberts, nodded, —, Trump, Read Organizations: Trump, Capitol, CNN, Justice Department Locations: Washington ,

☆ Supreme Court rules Trump has limited immunity in January 6 case, jeopardizing trial before election
▼ + stars: | 2024-07-01 | by ( John Fritze | ) edition.cnn.com time to read: +7 min

Justice Sonia Sotomayor issued a lengthy and strongly worded dissent in which she excoriated the court for its decision. The chief justice said the trial court will have to assess what of Trump’s alleged conduct is immunized under the new test handed down by the high court, and the opinion said that additional briefing will be needed for the trial court to do so. Justice Amy Coney Barrett expressed frustration with how the court was sending the case back down for more proceedings. She suggested that because Trump’s wholesale challenge to the indictment had failed, at least some of the case could go forward. In that sense, if Smith narrowed his indictment, lower courts could hear the Trump trial this year.

Persons: Donald Trump, Trump, Sonia Sotomayor, John Roberts, “, ” Roberts, Trump’s, ”, Roberts, Amy Coney Barrett, ” Barrett, Jack Smith’s, Mike Pence, Biden, Smith, –, ‘, ’ Sotomayor, ” Sotomayor, CNN’s Paula Reid, Nikki Carvajal, Priscilla Alvarez Organizations: CNN, of Justice, Trump, Government

☆ French stocks jump 2.5% as far right takes election lead but seen falling short of majority
▼ + stars: | 2024-07-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Dimitar Dilkoff | Afp | Getty ImagesFrench stocks staged a relief rally early Monday after results from the first round of the nation's snap election raised expectations of a hung parliament. The far-right National Rally party and its allies won 33.1% of the vote, the left-wing NFP alliance was second with 28% and Macron's coalition secured 20%, France's Interior Ministry said Monday. Stock Chart Icon Stock chart icon CAC 40 index. Stock Chart Icon Stock chart icon Euro/U.S. National Rally is hoping it will be the party's 28-year-old leader, Jordan Bardella.

Persons: Jordan Bardella, Gabriel Attal, Manuel Bompard, Dimitar Dilkoff, Sebastian Paris Horvitz, CNBC's, Matthew Ryan, —, Emmanuel Macron, Macron, Horvitz Organizations: Rassemblement National, France's, France, TF1, Afp, Getty, NFP, La Banque Postale Asset Management, Citi, National, U.S ., National Assembly, — Locations: London, France, Europe

☆ More companies are staying quiet during Pride, but money is still flowing to LGBTQ+ causes
▼ + stars: | 2024-06-30 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +8 min

A GLAAD spokesperson said Friday that the group has not seen donations or corporate support decline this Pride month, though it does not yet have a total tally. Pride Month merchandise is displayed at a Target store on May 31, 2023 in San Francisco, California. A sign disparaging Bud Light beer is seen along a country road on April 21, 2023 in Arco, Idaho. Anheuser-Busch, the brewer of Bud Light has faced backlash after the company sponsored two Instagram posts from a transgender woman. For its part, Bud Light hasn't posted in support of Pride month on its Instagram or X pages this year.

Persons: Stephen J, Cohen, Bud Light, Luke Hartig, Tim Bennett, Bennett, Sarah Kate Ellis, Ellis, JPMorgan Chase, Booking.com, Joe Biden, Justin Sullivan, Bud, Target, Natalie Behring, Kid Rock, Ron DeSantis, influencer Dylan Mulvaney, Bud Light's, Michel Doukeris, Bud Light hasn't, Neil Reid, Reid, Tarang Amin, Tara Dziedzic Organizations: Getty, Gravity Research, D.C, Fortune, Tribury Productions, Procter & Gamble, GLAAD, Stonewall, Monument Visitor Center, New, Google, JPMorgan, Target, Pride Month, Anheuser, Busch, Busch InBev, Florida Gov, Constellation Brands, Modelo, InBev, UFC, RBC, University of Toledo, Fox News, The New York Stock Exchange, NYSE Locations: Louisville , Kentucky, Washington, New York City, San Francisco , California, Arco , Idaho, U.S, RBC Europe

☆ His wife died. Then he unexpectedly found a second chance at love on vacation
▼ + stars: | 2024-06-28 | by ( Francesca Street | ) edition.cnn.com time to read: +14 min

“This was no normal train,” John recalls. Back home in the UK, John thought about Judy fondly from time to time. In the UK, John’s friends loved it when this glamorous American woman visited town. John Nears and Judy CurtisAs John and Judy haven’t been able to meet this year, they’ve both been spending time reflecting on past adventures. Thinking back on his life, John says he feels inordinately lucky to have enjoyed two great love stories.

Persons: John’s, Pam, “, ” John, John, Chris, marveling, Judy Curtis, Judy Malody, Judy, they’d, John –, ”, –, “ I’d, Coast –, Judy Curtis Judy, John she’d, she’d, ‘, ’ ”, Jack, She’d, “ Judy, Judy Curtis John, Madeira’s, who’d, Peru –, “ John, It’s, Judy doesn’t, he’s, “ We’ve, ’ John, Judy Curtis It’s, Cunard Queen Mary, she’s, “ It’s, Judy haven’t, they’ve, ” John’s, you’ve, who’ve, Pam’s Organizations: CNN, CNN Travel, Orient Express, Coast, San Diego International, San Diego, ”, “, Health Locations: South America, England, Bolivia, Peru –, Cusco, Puno, “, Peru, San Diego , California, New York, California, West Coast, United States, East Coast, San Diego, Madeira, Funchal, Istanbul, Turkey, British, ”, Antarctica, Yosmite , California, Iceland, Kenya, Tanzania

☆ 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

☆ France's election has the ability to rock wider European stocks, Citi strategist says
▼ + stars: | 2024-06-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

France's parliamentary election has already rattled investors as the country's risk premium rises — but two possible scenarios have still not been priced in by markets and could impact stocks in the wider European region, according to Citi. "However, the market is not priced in for far-right or far-left majority," Manthey said. "The outcome is still quite unclear, we only have polling for the first round of the election. "Let's put the announcement of the election in the context of the positioning of the investors. If the French election outcome "is very market unfriendly ... markets in Europe are quite correlated.

Persons: Beata Manthey, CNBC's, Manthey, Emmanuel Macron's, Let's, we've Organizations: Citi, CAC Locations: Sunday's, Europe, U.S

☆ On MSNBC, the mood turns somber following Biden’s debate performance
▼ + stars: | 2024-06-28 | by ( Hadas Gold | ) edition.cnn.com time to read: +5 min

“It’s kind of a DEFCON 1 moment,” David Plouffe, former President Barack Obama’s campaign manager, told MSNBC star Rachel Maddow following the debate. The people who were texting with me were very concerned about President Biden seeming extremely feeble, seeming extremely weak,” Reid said. And while MSNBC’s hosts pointed to the flood of lies from Trump during Thursday night’s debate, the conversation continually returned to Biden’s performance. “President Biden is a good man who capped a long career in public service with a successful presidential term. “Predictably, Biden’s poor performance led to some chatter about his stepping down and letting someone else be the nominee.

Persons: CNN —, Alex Wagner, ” Wagner, Donald Trump, Joe Biden, Joe Biden’s, Trump, ” David Plouffe, Barack Obama’s, Rachel Maddow, Joy Reid, Biden, “, ” Reid, ”, Nicolle Wallace, ” Wallace, Chris Hayes, Nicholas Kristof, “ Joe Biden, —, ” David Corn, Mother Jones, ” Mehdi Hasan, ” Hasan, Symone Sanders Organizations: CNN, MSNBC, Democratic, Fox News, Republican, Trump, ” New York Times, Biden Locations: Atlanta, America

☆ Prominent Biden loyalists suggest he should step down
▼ + stars: | 2024-06-28 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +7 min

Read previewFor months, Democrats have rallied behind President Joe Biden, insisting that in private moments he is energetic and up for the job. David AxelrodDavid Axelrod, a former Obama staffer, said the GOP will be in trouble if another Democrat replaces Biden as the nominee. He confronted the question on nearly every Democrat's mind: whether Biden should drop out of the race. The Pod GuysThough typically loyal to Biden, the hosts of the hugely popular podcast are saying that Biden should, at the very least, consider stepping aside. Kristof implored the president to leave his successor in the hands of delegates at the Democratic National Convention.

Persons: —, Joe Biden, Biden's, David Axelrod David Axelrod, Biden, Joe Raedle, Obama, Axelrod, Jason Mendez, Getty, Jon Favreau, haven't, Joe Biden —, Dan Pfeiffer, Tommy Vietor, Claire McCaskill, McCaskill, Kamala Harris, Gavin Newsom, Thomas Friedman, Michael Cohen, Friedman, Donald Trump, Harris, Van Jones, Scott Dudelson Van Jones, Jones, Joy Reid, Ben Rhodes, Nicholas Kristof The, Kristof, Gretchen Whitmer, Sen, Sherrod Brown, Gina Raimondo, Alex Thompson Organizations: Service, Democratic National Convention, Business, Obama, GOP, CNN, Democratic, MSNBC, New York Times, Convention, CBS, Getty Locations: America, California

☆ Analysis: Trump relishes a winning streak on the debate stage and in the courts
▼ + stars: | 2024-06-28 | by ( Stephen Collinson | ) edition.cnn.com time to read: +9 min

Washington CNN —Donald Trump used to tell his fans that he’d win so much, they’d get tired of winning. The ex-president’s lawyers are already signaling they will seek to get evidence tossed and obstruction counts against the ex-president dismissed. The court released its decision ahead of an even more critical case that will bear more directly on Trump’s criminal entanglements. A second 2020 election case, in Georgia, is also stalled – partly over a controversy and appeals process triggered by a relationship between District Attorney Fani Willis and a prosecutor she appointed. Trump is only three years younger than Biden and often lapses into gibberish in campaign events.

Persons: Washington CNN — Donald Trump, they’d, Joe Biden’s, Trump, ” Trump, Jack Smith, Aileen Cannon, Cannon, –, Fani Willis, Juan Merchan, it’s, Biden, Biden’s, he’s, ”, overstepped, Smith, CNN’s Paula Reid, ’, ” Cannon Organizations: Washington CNN, Trump, America, “, Justice Department, Capitol, Republican, WIN, White, Republican National Convention, Biden, Justice, Trump . Trump’s Locations: Atlanta, Virginia, Florida, Lago, Georgia, New York, Milwaukee , Wisconsin

Charges against Trump not likely affectedThe people who pushed their way into the Capitol aren’t the only ones who are facing the obstruction charge. But even before the court’s decision was handed down, Smith made clear that the charge was based on different circumstances in Trump’s case. The Supreme Court’s opinion did not address the fake electors scheme specifically. What is far more important for Trump is the Supreme Court’s pending decision on immunity. The Justice Department has taken steps for months in its prosecutions of rioters to shore up the obstruction charges.

Persons: Donald Trump, Neil Gorsuch, Brett Kavanaugh –, Biden, Trump, Jack Smith, Smith, John Roberts, nodded, –, General Merrick Garland, Garland, Jackson, Barrett, Fischer, Ketanji Brown Jackson, Roberts, Amy Coney Barrett, “, ”, ” Jackson, Joseph Fischer, Fischer “, ” Barrett, CNN’s Kristen Holmes, Paula Reid Organizations: CNN, Capitol, Trump, Enron, Trump . Trump, Justice Department, Department, The, Republican, Democratic, United States Capitol Locations: Pennsylvania

☆ Sweden's central bank chief says 2 to 3 more rate cuts this year is a 'forecast not a promise'
▼ + stars: | 2024-06-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

"Two or three cuts is a forecast, it's not a promise, and we will adapt monetary policy according to incoming information," Thedéen told CNBC's Arabile Gumede. "Our inflation forecast is pointing to a good inflation outlook, we're still already now very close to our target and our forecast has pointed to 2% inflation in the coming months and years," Thedéen said. In order to deliver more rate cuts, "we don't need to have a super positive surprise, we need to have data coming in in-line overall. So I think that would be the main message," Thedéen told CNBC. Headline inflation in Sweden was 3.7% in May, slightly higher than the 3.5% forecast in a Reuters poll of economists.

Persons: Sweden's Riksbank, Erik Thedéen, Thedéen, CNBC's Arabile, we're Organizations: CNBC Locations: Norway, Swedish, Sweden

☆ France's shock election has rattled nerves and raised debt crisis talk
▼ + stars: | 2024-06-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +6 min

Poster of Christophe Versini for the Rassemblement National (National Rally) party, with Marine Le Pen and Jordan Bardella on it, on June 24, 2024. Recent polling suggests the far-right Rassemblement National (RN, or National Rally) party, led by Jordan Bardella, could win the most seats in the National Assembly, followed by the left-wing alliance Nouveau Front Populaire (NFP, or New Popular Front). French bond yields — which move inversely to prices — have been relatively contained. Even then, he added, the spread of French bond yields over their German counterparts looked set to remain higher than before Macron called the election. There is little concern over France enacting its own "Frexit," he said, with even National Rally having moved away from actively proposing leaving the euro area or the European Union.

Persons: Christophe Versini, Jordan Bardella, Magali Cohen, Emmanuel Macron, Sunday's, Giorgia Meloni, Viraj Patel, Patel, Liz, Truss, Andrew Kenningham, Macron, Kenningham, François Mitterrand, Christian Keller, CNBC's, Keller Organizations: Rassemblement National, Afp, Getty, National Assembly, Societe Generale, BNP, Vanda Research, Capital Economics, European Central Bank, Bank of England, Barclays, European Union Locations: Germany, Italy, Europe, France, Britain

☆ Trump Media is being 'absurdly' valued by investors, LinkedIn cofounder says
▼ + stars: | 2024-06-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The billionaire entrepreneur noted that Turth Social is tiny compared to other social media. AdvertisementTrump Media's stock price is "absurdly out of the realm of normal business," according to LinkedIn co-founder Reid Hoffman. Trump Media is worth just a fraction of LinkedIn, which was bought out for $26 billion in 2016. For reference, TMTG made just $4.1 million last year and lost $58 million, according to its financial statements. "Trump Media is probably more appropriately valued close to $40 million rather than several billion."

Persons: Reid Hoffman, TMTG, —, Hoffman, Donald Trump's Organizations: Trump, Service, LinkedIn, CNN, Trump Media Locations: SPAC

☆ Trump’s company is valued ‘absurdly out of the realm of normal,’ LinkedIn billionaire says
▼ + stars: | 2024-06-25 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

But the LinkedIn co-founder is dumbfounded by the size of the social media fortune former President Donald Trump is sitting on. Trump’s conservative social media company, Truth Social owner Trump Media & Technology Group, is valued by Wall Street at a whopping $6 billion — even after a recent plunge in its share price. “That is wildly high,” Hoffman, who is now a director at Microsoft and a venture capital investor, told CNN. Trump’s stake is worth nearly $4 billionHoffman is hardly the first to express disbelief at the valuation of Trump Media. Based on Monday’s share price, Trump’s 114.75 million shares in Trump Media are valued at nearly $4 billion.

Persons: New York CNN — Reid Hoffman, Donald Trump, ” Hoffman, “, Elon Musk’s, Hoffman, Trump, Meta, —, Jay Ritter, Barry Diller Organizations: New, New York CNN, LinkedIn, Truth Social, Trump Media & Technology Group, Wall, Microsoft, CNN, Trump Media, Nasdaq, Reddit, Meta, Facebook, “ Trump Media, ” Trump Media, Trump, SEC, GameStop, AMC, University of Florida, ” Billionaire, MGM Resorts International, CNBC, White Locations: New York

☆ Nvidia share price nosedives to wipe $430 billion off company’s value
▼ + stars: | 2024-06-25 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

The US chipmaker’s market capitalization hit $3.34 trillion on June 18 to surpass Microsoft’s but has since shed $430 billion. Now worth $2.91 trillion, Nvidia has fallen into third place globally, behind Microsoft (MSFT) and Apple (AAPL), which have a market cap of $3.33 trillion and $3.19 trillion respectively. The company’s chips power AI systems, including generative AI, the technology behind OpenAI’s ChatGPT that can create text, images and other media. Now investors have started to take profits and they seem to prefer selling stocks with the best year-to-date performance.”Market contagion? Nvidia is a member of the so-called Magnificent Seven, the mega-cap tech companies whose shares greatly outperformed the broader US stock market rally last year.

Persons: ” Jim Reid, OpenAI’s, Nvidia’s, ” Jochen Stanzl, —, ”, Derren Nathan, Hargreaves, isn’t, “ Organizations: London CNN, Nvidia, US, Microsoft, Apple, Deutsche Bank, CMC, CNN, Nasdaq

☆ Treasury yields are flat as investors gear up for inflation data
▼ + stars: | 2024-06-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

One basis point is equivalent to 0.01%The 10-year Treasury yield was flat 4.257% on Monday. The 2-year Treasury yield was fractionally higher at 4.736%. Treasurys were muted entering the final week of June, with investors set to zero in on Friday's key inflation report. With a summer interest rate cut from the Federal Reserve seemingly off the table, markets are hunting for more signs that September may be the month. That may come in the form of Friday's personal consumption expenditures price index, the Fed's preferred inflation gauge.

Persons: Michelle Bowman, Lisa Cook Organizations: Federal Reserve, Reuters, Traders Locations: U.S

☆ The stock market is having its best election year ever
▼ + stars: | 2024-06-24 | by ( Nicole Goodkind | Matt Egan | ) edition.cnn.com time to read: +9 min

The S&P 500 alone has generated an average return of 7% during presidential election years since 1952, according to LPL Financial. If you limit that to election years in which the incumbent president is running for reelection, the average jumps to 12.2%. Yes, but: Market volatility in an election year tends to pick up in October and there are many months left in this cycle with potential surprises to come. “An autumn pullback fits well time wise with potential downside earnings revisions, make-or-break decision time for the Fed, and election uncertainty. The first round of the French election will be held on June 30, with a second round on July 7.

Persons: Goldman Sachs —, Ed Clissold, Ned Davis, they’re, It’s, Goldman Sachs ’ Scott Rubner, “, ”, Mark Hackett, Scott Chronert, Goldman Sachs, Joe Biden, Donald Trump, Jim Reid, There’s, Emmanuel Macron, Katie Nixon, Chris Isidore ., they’ve, Samantha Murphy Kelly, ChatGPT —, Siri —, OpenAI, Siri, ChatGPT, hasn’t, — Organizations: London CNN — Traders, Investors, White, Ned, Ned Davis Research, Nasdaq, Citigroup, Goldman, Barclays, Deutsche Bank, UBS, Deutsche, Fed, United, Labour Party, Renaissance, Northern Trust Wealth Management, Alaska Airlines, Alaska —, Southwest —, Southwest, Railway Labor, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, Wall, IDC Locations: United States, France, “, Alaska, China

☆ LinkedIn cofounder Reid Hoffman takes aim at venture capitalist David Sacks for his support of Donald Trump
▼ + stars: | 2024-06-23 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Read previewLinkedIn cofounder Reid Hoffman had some choice words for venture capitalist David Sacks after he endorsed Donald Trump earlier this month. "Sadly, rather than originality, Sacks' letter awkwardly regurgitates pro-Trump groupthink." "The voters have experienced four years of President Trump and four years of President Biden," Sacks wrote in his letter. With respect to economic policy, foreign policy, border policy, and legal fairness, Trump performed better. Sacks' support for Trump — and Hoffman's vocal condemnation for it — comes as a growing faction of Silicon Valley elites have voiced their support for the former president post-conviction.

Persons: —, Reid Hoffman, David Sacks, Donald Trump, Sacks, Joe Biden's, Biden, Hoffman, Trump, Sacks hasn't Organizations: Service, Business, Trump, Putin, Silicon, Republican

☆ Europe stocks look set to extend gains after BOE rate hold, Swiss cut; UK retail sales beat forecast
▼ + stars: | 2024-06-21 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Jack Taylor | Getty Images News | Getty ImagesLONDON — European stocks are heading for a cautiously higher open Friday as investors monitor a slew of central bank decisions and data releases. The pan-European Stoxx 600 index is on course for a weekly gain of more than 1.5%, its best performance since early May. Attention this week turned to central bank action, as the Swiss National Bank announced it would cut interest rates by 0.25 percentage points to 1.25%. The SNB became the first major central bank to cut rates during this cycle back in March. The Bank of England meanwhile kept interest rates unchanged at a 16-year high of 5.25%.

Persons: Jack Taylor Organizations: Getty, Equity, European Union Parliament, Reuters, Swiss National Bank, Bank of England Locations: Godalming, United Kingdom, France

☆ Weight loss drug contender Zealand Pharma jumps 23% on trial results
▼ + stars: | 2024-06-21 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Vials on the Wegovy line at the Novo Nordisk A/S production facilities in Hillerod, Denmark, on Friday, March 8, 2024. LONDON — Shares of Denmark's Zealand Pharma popped nearly 23% in Friday morning deals, notching a record high after an early-stage study of its weight loss drug challenger produced positive results. Petrelintide was "judged to be safe and well tolerated at all dose levels" and the results provided "robust support" for its potential as an alternative to GLP-1 receptor agonist-based therapies for weight management, Zealand Pharma said in a release. GLP-1RA-based treatments include Ozempic, the diabetes drug produced by fellow Danish pharmaceutical firm Novo Nordisk , which has exploded in popularity globally for its weight-loss effects. Soaring demand for Ozempic and obesity drug Wegovy have propelled Novo Nordisk to become Europe's most valuable company.

Persons: Petrelintide Organizations: Novo Nordisk, Denmark's Zealand Pharma, Zealand Pharma Locations: Hillerod, Denmark, Danish

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