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☆ Elon Musk is looking for trillions in government waste, and defense is a massive potential target
▼ + stars: | 2024-11-16 | by ( Jake Epstein | Grace Kay | ) www.businessinsider.com time to read: +10 min

President-elect Donald Trump has tapped Elon Musk to help spearhead cuts to government spending, and the defense sector could be a prime target. But Musk's past comments hint at one area he could target: defense contracts. Musk built SpaceX's business model around fixed-price contracts. Musk's new initiative could recommend exactly this: a move away from cost-plus contracts toward fixed-price contracts. An aerial view of the Pentagon AP Photo/Patrick Semansky, FileMusk's new initiative may target other areas of Pentagon spending, as well.

Persons: Donald Trump, Elon, Elon Musk, It's, Trump, Musk, Julia Demaree Nikhinson, Clayton Swope, Walter Isaacson's, Swope, John Raoux Overspending, Gerald R, Mike Gallagher, Gallagher, Ford, Steve Helber, Bryan McGrath, Todd Harrison, —, Harrison, Michael Bohnert, they've, Archer Macy, Patrick Semansky, John Harvey Jr, Mississippi Sen, Roger Wicker Organizations: Defense, Pentagon, Department of Government, SpaceX, NASA, AP, Center for Strategic, International Studies, Services, International Space, Kennedy Space Center, Littoral, Ford, DoD, Republican, Palantir Technologies, Newport News Shipbuilding, American Enterprise Institute, Shipbuilding, BAE Systems, RAND Corporation, CSIS, US Air Force, Navy, Senate Armed Services Committee Locations: Pennsylvania, Columbia, China, Wisconsin, Virginia, Mississippi

☆ Gloom, nervousness and joy: What Trump’s victory means for key world regions
▼ + stars: | 2024-11-06 | by ( Cnn Staff | ) edition.cnn.com time to read: +23 min

He also believes Russia is also betting on “US turmoil” under Trump, hoping internal divisions will “distract” Trump from foreign policy. Zelensky, like the others playing to Trump’s vanity through praise, said: “I appreciate President Trump’s commitment to the ‘peace through strength’ approach in global affairs. Those are the central questions now facing Seoul, as Trump has openly considered downsizing the approximately 28,500 US troops stationed in South Korea. Seoul currently pays $1.13 billion annually for American military forces within its territory, a figure which under an agreement signed Monday is expected to rise to $1.26 billion annually in 2026. A screens shows live footage of Donald Trump speaking during a news program in Seoul, South Korea, on November 6, 2024.

Persons: Donald Trump, Trump, CNN’s Clare Sebastian, Vladimir Putin, Hillary Clinton, Clinton, Putin wryly, Joe Biden, Vance’s, Pavel Bednyakov, AP “ Trump, ”, Dmitry Medvedev, Margarita Simonyan, “ Trump, Dmitry Peskov, “, ” Boris Bondarev, ” Trump, Matthew Chance, Benjamin Netanyahu, ” Netanyahu, Biden, –, Kamala Harris –, Trump’s, Amir Levy, trepidation, America’s, Nic Robertson, Annalena Baerbock, Baerbock, Remko de, Mark Rutte, Jens Stoltenberg’s, Stoltenberg, Putin, ” Baerbock, Steven Jiang, Xi Jinping didn’t, Xi, Washington’s, Florence Lo, Harris, Will Ripley, Lai Ching, Vance, Lai, Taiwan’s, Kamala Harris, Chiang Ying, Mike Valerio, they’d, They’d, Camp Humphreys, Lee Jin, Will Trump, Kim Jong, Robert C, Kim, Larry Madowo, Ghana Trump, Uhuru Kenyatta, Akinwumi Adesina, Osinbajo, Hailemariam Desalegn, Jonathan Ernst, George W, Bush, It’s, Stefano Pozzebon, Javier Milei, El, Nayib Bukele, Bolsonaro, Gustavo Petro, Mexico’s Claudia Sheinbaum, Sheinbaum, Del Cueto, Rebecca Noble Organizations: CNN, United, Democratic National Committee, Trump, International Media, AP, RT, Kremlin, White, Israel, White House, America, Iranian, German, NATO, European Union, Getty, Dutch, Democratic, Reuters, South China, Taiwan : Defense, Party, Taiwan, Taiwan Relations, Washington, Congress, Kuomintang, KMT, Economic, of Chicago, Bloomberg News, Army, South, North, Korean, Kenyan, Guinea Alpha Conde, Trump , African Development Bank, Ethiopian, Republican, AIDS Relief, Biden, Conservative, Progressives, US, Mexico “, Border Patrol Council Locations: Russia, East, Europe, China, Taiwan, Korean, Africa, Ukraine, CNN’s, London, Moscow, Russian, Kyiv, American, ”, Jerusalem, Israel, America, Gaza, Lebanon, Iran, Tehran, Hamas, Germany, Soviet, United States, United Kingdom, The Hague, Netherlands, Remko de Waal, Trump, Beijing, –, Shanghai, South, Taipei, Asia, Seoul, South Korea, Korea, North Korea, Japan, Tokyo, Washington, Pyongyang, Accra, Ghana, Tanzania, Zambia, Guinea, Trump ,, Nigeria, AFP, Angola, Bogotá, Colombia, Mexico, Venezuela, Nicaragua

☆ Ladner: Defense stocks are probably not a bad place to be right now.
▼ + stars: | 2024-10-02 | 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 EmailLadner: Defense stocks are probably not a bad place to be right now. Scott Ladner, Chief Investment Officer at Horizon Investments, discussess Middle East tensions, defense stocks, and the Fed's rate cuts. He's optimistic about biotech and health care due to AI, and sees potential in small caps and cyclical sectors if the economy cools.

Persons: Scott Ladner Organizations: Ladner, Defense, Horizon Investments

☆ Macquarie Capital: Defense, shipbuilding firms to benefit from launch of Korea's value-up indexes
▼ + stars: | 2024-09-13 | 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 EmailMacquarie Capital: Defense, shipbuilding firms to benefit from launch of Korea's value-up indexesJames Hong of Macquarie Capital highlights some names in sectors outside of autos and banks that could be big winners from the launch of South Korea's new value-up indexes.

Persons: James Hong Organizations: Macquarie, : Defense, Macquarie Capital

☆ These are JPMorgan’s top stock picks for clients heading into June
▼ + stars: | 2024-06-03 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

JPMorgan highlighted a group of stocks to kick off the new trading month, reflecting its analysts' top picks and some new favorites, including Carvana and L3Harris Technologies . United Airlines is up nearly 28% this year, and JPMorgan thinks the stock could have a roughly 85% rally over the next year. Jefferies recently upgraded the airline to buy from hold , hiking its price target by $11 to $65. Higher international margins and increased free cash flow generation compared to this time last year should also help drive shares higher, the analyst said. With a $544 price target, the beauty stock could climb 37.7%, according to JPMorgan.

Persons: Wells Fargo, Jefferies, Sheila Kahyaoglu Organizations: JPMorgan, L3Harris Technologies, United Airlines, Boeing, U.S Locations: Lowe's

☆ Expedia and this beauty stock are among the most oversold names on Wall Street. Here are the others
▼ + stars: | 2024-05-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Using the CNBC Pro Stock Screener tool , we found the most overbought and oversold stocks on Wall Street based on their 14-day relative strength index, or RSI. Stocks with a 14-day RSI lower than 30 fall under oversold territory — and may be due for a rebound in the future. Here are some of the most oversold names: Expedia made the cut of oversold names, off more than 2% week to date. Expedia has a 14-day RSI reading of about 26. The firm also slashed its price target to $434 from $612, citing a faster-than-expected slowdown in the beauty segment.

Persons: Expedia Organizations: Nasdaq, Dow Jones, CNBC, Stock, Barclays, Defense, Leidos Holdings, NextEra Energy, Navigation, Garmin

☆ The Aggressive and Expensive Legal Team Defending Mayor Adams
▼ + stars: | 2024-04-29 | by ( Emma G. Fitzsimmons | ) www.nytimes.com time to read: 1 min

Not long after Eric Adams became the mayor of New York City, he quickly rewarded a cadre of loyalists with plum jobs in his administration. Now Mr. Adams is casting favor upon a new set of people looking out for his interests: defense lawyers. The firm has already been paid more than $730,000 by the mayor’s five-month-old legal defense fund. Mr. Adams intends to bring aboard Randy Mastro, a lawyer known for his aggressive tactics and roster of contentious clients and causes, to represent him as the city’s corporation counsel. Mr. Mastro would earn roughly $250,000 a year and would replace Sylvia Hinds-Radix, a former judge who has a more reserved style.

Persons: Eric Adams, Adams, WilmerHale, Randy Mastro, Mastro, Sylvia Hinds Organizations: of Locations: New York City, Southern, of New York, Turkish

Mr. Pecker was also asked whether he believed Mr. Trump was concerned that his wife or family would find out about the affairs. director, and Reince Priebus, who was chairman of the Republican National Committee, Mr. Pecker reassured Mr. Trump that everything was fine. Mr. Trump then told the group that Mr. Pecker probably “knows more than anyone else in this room.”“It was a joke,” Mr. Pecker testified, adding, “They didn’t laugh.”Pecker did a lot for Trump, who could be hard to please. Mr. Pecker variously described Mr. Trump as becoming “very angry” and “very aggravated.”Still, Mr. Pecker said he felt no ill will. Mr. Pecker described a 2002 meeting in which Mr. Schwarzenegger asked Mr. Pecker not to run negative stories about him before his run for governor of California.

Persons: Donald J, Trump, Stormy Daniels, Donald Trump, David Pecker, Pecker, Karen McDougal, Daniels, McDougal, Trump’s, Michael D, Cohen, Marion Curtis, “, Mr, McDougal —, —, ” Mr, ”, Ahmed Gaber, James Comey, Reince Priebus, ” Pecker, Emil Bove, Arnold Schwarzenegger, Schwarzenegger Organizations: National Enquirer, AMI, ., Associated, Prosecutors, Trump, White, The New York Times, Republican National Committee, Mr, Republican Locations: Trump’s, California

☆ Trump trial: Defense continues cross-examination of National Enquirer publisher David Pecker: Live updates
▼ + stars: | 2024-04-26 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +1 min

Former U.S. President Donald Trump sits in the courtroom at Manhattan criminal court in New York on April 26, 2024. Defense attorneys for former President Donald Trump continued the cross-examination Friday of former National Enquirer publisher David Pecker, who has given three days of damning testimony for the prosecution in Trump's New York criminal hush money trial. Pecker's cross-examination began Thursday afternoon, when attorneys for Trump started a line of questions designed to poke holes in Pecker's credibility. The effort drew objections from prosecutors late Thursday afternoon, which New York Judge Juan Merchan said would be dealt with on Friday. Entering the courtroom Friday morning, Trump said he thought things went "very well" in the trial on Thursday.

Persons: Donald Trump, David Pecker, Pecker's, Trump, Juan Merchan Organizations: U.S, National Enquirer, New York Locations: Manhattan, New York, Trump's New York

☆ Live updates: Trump classified documents hearing, Fani Willis case closing arguments
▼ + stars: | 2024-03-01 | by ( ) edition.cnn.com time to read: +2 min

Special Counsel Jack Smith and attorneys for Trump proposed moving the trial later into the summer in court filings Thursday. Smith said he believes that Trump and his two co-defendants, Walt Nauta and Carlos De Oliviera, should go to trial on July 8, 2024. For Friday’s hearing in the documents case, scheduled for 10 a.m. Hearing over efforts to disqualify Fani Willis: Defense attorneys in Fulton County will deliver their closing arguments as to why Fulton County District Attorney Fani Willis should be dismissed from the election interference case against Trump and his alleged co-conspirators. Attorneys for Trump and his allies are expected to argue that Wade and Willis lied under oath about when their relationship started.

Persons: Donald Trump, Aileen Cannon, Joe Biden’s, Jack Smith, Trump, Smith, Walt Nauta, Carlos De Oliviera, Cannon, —, Fani Willis, Scott McAfee, Willis, Nathan Wade, Wade Organizations: Trump —, Trump Locations: Fulton County

☆ Lloyd Austin: Defense Secretary expected to be released from hospital later on Tuesday, Pentagon says
▼ + stars: | 2024-02-13 | by ( Haley Britzky | ) edition.cnn.com time to read: +2 min

CNN —US Defense Secretary Lloyd Austin is expected to be released from hospital later on Tuesday after being treated for a bladder issue, Deputy Pentagon press secretary Sabrina Singh said. “Secretary Austin is still at Walter Reed National Military Medical Center and is in good condition. Deputy Secretary (Kathleen) Hicks continues to retain the functions and duties of the Secretary of Defense at this time. However, we anticipate Secretary Austin will be released from the hospital later today,” Singh said. Singh added that the bladder issue that hospitalized Austin on Sunday was not related to the prostate cancer diagnosis he received in December.

Persons: Lloyd Austin, Sabrina Singh, Austin, Kathleen, Hicks, ” Singh, Singh, “, ” Austin, Joe Biden, Biden Organizations: CNN, US, Pentagon, “, Walter Reed National Military Medical Center, Defense, Contact, White, American

☆ Along the Koreas’ Dangerous Border, the Guardrails Are Now Down
▼ + stars: | 2023-11-23 | by ( Dasl Yoon | ) www.wsj.com time to read: 1 min

South Korean forces conducted drills this week on an island near the demilitarized zone. Photo: Defense Ministry/Zuma PressSEOUL—A key symbol of a brief period of detente on the Korean Peninsula half a decade ago is now gone. This week, North and South Korea suspended an inter-Korean military agreement struck in 2018 to reduce the risk of conflict along the shared border. A liaison office, also dating to that period, was blown up by North Korea in 2020, and any hopes of resurrecting that era’s denuclearization talks have disappeared in a hail of missile launches by Pyongyang.

Persons: era’s denuclearization Organizations: Defense Ministry, Zuma Press Locations: South Korea, North Korea, Pyongyang

Stanford coach Troy Taylor didn't really change a thing, just watched as the Cardinal steadily staged the largest comeback in school history. Joshua Karty connected on a 31-yard field goal in the second overtime after tying the game in regulation, Elic Ayomanor had a school-record 294 yards receiving and Stanford rallied for a 46-43 victory over Colorado early Saturday. “From youth on, I don’t remember being up 29-0 and losing a football game,” Sanders said. “The plays he made kept us in the game,” Sanders said. Colorado: The Buffaloes have a bye week before traveling to UCLA to face the Bruins on Oct. 28.

Persons: — Deion Sanders, Troy Taylor didn't, Cardinal, Joshua Karty, Ayomanor, ” Taylor, “, Sanders, ”, Alaka’i Gilman, Karty, ” Shedeur Sanders, QBs Justin Lamson, Ashton Daniels, Daniels, —, Troy Walters, ” Ayomanor, ” Colorado, Coach Sanders, ” Sanders, ” Deion Sanders, Travis Hunter, Deion Sanders, that's Organizations: Stanford, Colorado, Buffaloes, Kansas, ” Stanford, UCLA, “, Colorado State, Folsom, Colorado : Defense, NEXT Stanford, The Buffaloes, Bruins, AP Locations: BOULDER, Colo, Colorado, Stanford

☆ SBF trial: Defense cross-examines former top FTX executive
▼ + stars: | 2023-10-12 | by ( Kate Rooney | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSBF trial: Defense cross-examines former top FTX executiveCNBC's Kate Rooney reports on the latest from Sam Bankman-Fried's criminal trial.

Persons: Kate Rooney, Sam Bankman

Rahm Emanuel, Washington's outspoken ambassador to Japan, wrote in a post on X: "1st: Defense Minister Li Shangfu hasn't been seen or heard from in 3 weeks. China's defence ministry did not immediately respond to requests for comment. On the trip, Wat met with China's navy commander, Dong Jun and other navy leaders, Singapore's defence ministry said on its website. Singapore's defence ministry did not immediately respond to a request for comment. Military observers and diplomats are closely watching whether China will go ahead with plans to hold the Beijing Xiangshan Forum - an annual international security summit normally hosted by China's defence minister - in late October.

Persons: Li Shangfu, Li, Rahm Emanuel, Washington's, Li Shangfu hasn't, Mao Ning, Qin Gang, Qin, Emanuel, Barack Obama, Matthew Miller, Sean Wat, Wat, Dong Jun, Lloyd Austin, Yew Lun Tian, Laurie Chen, Martin Pollard, Yukiko Toyoda, Xinghui, John Geddie, Neil Fullick, Lincoln, Gerry Doyle Organizations: Defence, Financial Times, U.S, Street Journal, Defense, Navy, Liberation, Rocket Force, . State Department, Reuters, Military, Beijing Xiangshan, U.S . Defence, Australian National University, Thomson Locations: BEIJING, TOKYO, U.S, Beijing, Japan, Vietnam, Tokyo, States, China, Singapore, United States, Xinghui Kok

☆ U.S. Diplomat Questions Whether Chinese Defence Minister Under 'House Arrest'
▼ + stars: | 2023-09-14 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

In a post on X, formerly Twitter, Rahm Emanuel wrote: "1st: Defense Minister Li Shangfu hasn't been seen or heard from in 3 weeks. Now: He’s absent from his scheduled meeting with the Singaporean Chief of Navy because he was placed on house arrest???" China's foreign and defence ministries did not immediately respond to requests for comment. Reuters exclusively reported on Thursday that Li had abruptly pulled out of a meeting with Vietnamese defence leaders last week. These moves have raised questions from analysts and diplomats about a lack of transparency and unpredictable decision-making in China's leadership.

Persons: Yukiko Toyoda, Tian, Rahm Emanuel, Li Shangfu hasn't, William Shakespeare's, Li, Singapore Rahm, Sean Wat, Dong Jun, Qin Gang, Lun Tian, Martin Pollard, Xinghui, John Geddie, Neil Fullick Organizations: Twitter, Defense, Navy, Reuters, Financial Times, Singapore, PLA Navy, Liberation, Rocket Force Locations: Tian TOKYO, BEIJING, U.S, Japan, Vietnam, Denmark, Tokyo, Beijing, Singapore, China, Xinghui Kok

But now, as Mr. Putin seeks to project an image of restored stability and control, he has been putting his defense minister on display, even if Mr. Shoigu has not addressed the public or even been heard speaking. Mr. Shoigu was also present on Monday as Mr. Putin convened a meeting of his top security chiefs. On Tuesday, as Mr. Putin praised his security forces in a grandly choreographed speech, Mr. Shoigu was again present, wearing his military uniform. Mr. Shoigu, who was a very popular minister of emergency situations before becoming defense minister in 2012, has had a long and friendly relationship with Mr. Putin. Mr. Putin may have kept both men in charge as part of his decades-long efforts to place the sprawling Russian military more under his control.

Persons: Vladimir V, Sergei K, Shoigu, Valery V, Putin, Yevgeny V, Wagner, ” Mr, Gerasimov, Mr, Prigozhin, Ramzan Kadyrov, —, ”, ” Andrei Guryulov, Aleksandr Dugin, Aleksandr G, Lukashenko, Dugin, Long, General Gerasimov, It’s, Andrei Soldatov, Putin “, ” Oleg Matsnev Organizations: Putin, Cuban, National Defense Control Center of Russia, Russian military’s Zvezda, United, Defense Ministry, General Staff Locations: Moscow, Russia, Ukraine, United States, Cuba, Russian, Ukrainian, Lyman, Chechnya, United Russia, Belarus

☆ Washington’s Dilemma in Chad: Defense or Democracy?
▼ + stars: | 2023-06-01 | by ( Michael M. Phillips | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: chad

☆ LeBron James told he is ‘old’ in spat with Dillion Brooks as Grizzlies even playoff series with Lakers
▼ + stars: | 2023-04-20 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

“I don’t care, he’s old,” Brooks, who finished the game with 12 points on 5-of-14 shooting during his 23 minutes on the court, told reporters. I know my guys know that.”Four-time NBA MVP James finished Wednesday’s game with 28 points and 10 rebounds. According to ESPN, the only player to score 40 against the Grizzlies in a game Brooks played this season was the Portland Trail Blazers’ Damian Lillard. He’s LeBron James. He’s shining.’“I can’t be looking at [him] that he’s LeBron James.

☆ There's 'no way in hell' Trump's bombastic approach to his potential indictment would help him in court: defense attorney
▼ + stars: | 2023-03-23 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +4 min

There's "no way" Trump's reaction to his possible indictment will help him, defense attorneys said. As a potential indictment looms, Trump has lashed out on social media, calling for protests. But there's no way that Trump's bombastic approach to his possible indictment over allegations of a hush-money payment to adult film star Stormy Daniels would help him in a courtroom, criminal defense attorneys not connected to the case told Insider. Bederow, a former prosecutor for the Manhattan district attorney's office, called Trump's recent behavior toward his potential indictment "a terrible look" that demonstrates "instability" and "poor judgment." "There's no way Trump begging to be perp-walked and handcuffed and demanding that his supporters protest is helping" a potential criminal case, Bederow said.

☆ First on CNN: Defense bill takes aim at Russia’s pot of gold
▼ + stars: | 2022-12-08 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN Business —A must-pass defense bill now being negotiated in Congress includes new sanctions designed to trip up Russia’s war machine by targeting Moscow’s mountain of gold. If passed, the defense bill would directly sanction any American entities that knowingly transact with or transport gold from Russia’s central bank holdings. As of mid-2021, Russia’s central bank held $127 billion worth of gold, according to the Central Bank of Russia. The gold is stored at vaults within the territory of the Russian Federation, the Russian central bank has said. In June, President Joe Biden announced the United States and the rest of the G7 would impose a ban on imports of Russian gold.

☆ Stocks: Dow on track for best month in more than 45 years
▼ + stars: | 2022-10-31 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

New York CNN Business —The Dow fell slightly midday Monday but is still up 14% this month, putting it on track for its best monthly gain since January 1976. Still, it’s fitting that on Halloween, candy maker Hershey (HSY) is trading at an all-time high, Shares are up nearly 25% this year. That’s nearly half of the Dow stocks. Oil stocks and health care companies are leading the market, with Chevron (CVX), Merck (MRK) and Amgen (AMGN) topping the Dow leaders list. This list of well known, brand-name stocks trading at record highs is further proof of that point.

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