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Two tax preparers have been charged with defrauding the federal government of $65 million in Covid relief funds, according to federal prosecutors in Tennessee. Walton owns and operates R&B Tax Express in Moscow, Tennessee, where she and Jones allegedly "falsified numbers provided to the IRS on personal and business tax returns from 2020 through 2024." The U.S. Attorney's office did not specify the amount of money the clients paid to Walton and Jones. The Employee Retention Credit is a refundable tax credit for certain eligible businesses and organizations that had employees and were affected during the pandemic. Walton faces 20 years for her sole obstruction of justice count, prosecutors said.

Persons: Renata Walton, Nicole Jones, Walton, Jones Organizations: Small Business Administration, Tax Express, Prosecutors, Walton Locations: Tennessee, U.S, Memphis, Moscow , Tennessee, Olive Branch , Mississippi

☆ Swiss wealth manager Lombard Odier indicted on money laundering charges
▼ + stars: | 2024-11-29 | by ( Katrina Bishop | ) www.cnbc.com time to read: +2 min

Lombard Odier — one of Switzerland's oldest private banks — was indicted by Swiss prosecutors on charges of aggravated money laundering. Karimova was indicted by the attorney general in 2023 on accusations of laundering money that was a result of criminal activities in Switzerland between 2005 and 2012. "Investigations have led the OAG to believe that part of the money laundered in Switzerland may have been transferred in bank accounts at ... Lombard Odier in Geneva. Lombard Odier, whose origins date back as far as 1796, denies the allegations. The bank said the case was initiated by Lombard Odier's "proactive reporting of suspicions to the Swiss authorities."

Persons: Lombard, —, Lombard Odier, OAG, Gulnara Karimova, Islam Karimov, Karimova, Gregoire Mangeat Organizations: Federal, Investigations, Bank, CNBC, Swiss Locations: Switzerland, Uzbekistan, Geneva

☆ How China Became the World’s Largest Car Exporter
▼ + stars: | 2024-11-29 | by ( Agnes Chang | Keith Bradsher | ) www.nytimes.com time to read: +11 min

How China Became the World’s Largest Car ExporterChina 5.7 million cars exported Japan Mexico Germany South Korea Top car exporters in the world United States 2016 2020 2024 China 5.7 million cars exported Japan Mexico Germany South Korea Top car exporters in the world United States 2016 2020 2024 China 5.7 million cars exported Japan Mexico Germany South Korea Top car exporters in the world United States 2016 2020 2024 Source: Alix Partners Note: 2024 values are estimated. Domestic sales 20 Exports 0 2010 2015 2020 2024 Production capacity 40 million cars Car production capacity has risen faster than sales. Mr. Wen gave him essentially a blank check to make China the world’s leader in electric cars. Last year, most of the cars China sold abroad were traditional gasoline engine cars. China has more than 100 factories with a combined capacity to build close to 40 million internal combustion engine cars a year.

Persons: Alix, Donald J, Trump, Wen Jiabao, Wen, Carmakers Organizations: China, Japan Mexico Germany South, Alix Partners, European Union, China’s, Communist Party, Wan, Audi, America, UNITED STATES, BRAZIL, UBS, China Volkswagen, Volkswagen Locations: China, Japan Mexico Germany, Japan Mexico Germany South Korea, States, United States, Asia, Thailand, Philippines, Germany, Europe, Southeast Asia, Shanghai, Russia, Ukraine, Latin America, TURKEY, India, Brazil, Turkey, U.S

☆ Ditch all the negativity: Here's what can go right to lift each of our 34 stocks
▼ + stars: | 2024-11-29 | by ( Paulina Likos | ) www.cnbc.com time to read: +20 min

To counter that, Jim Cramer has said investors should not lose sight of what can go right for their stocks. Smooth chip updates: AMD needs to successfully carry out its annual release cycle for AI chips. That needs to be sustained to justify Meta's heavy spending on AI chips. Nevertheless, correcting this dynamic should translate into faster revenue growth rates. Palo Alto Networks Bigger deals: Cybersecurity is a secular growth market: As the number of bad actors grows, companies can't afford to not invest in defense.

Persons: Jim Cramer, Abbott, Donald Trump, Trump, Joe Biden, Eaton, Eli Lilly, Eli Lilly's GLP, Lilly, Hurricanes Helene, Milton, Elliott Management's, Elliott, Jim, Linde, Morgan Stanley Lower, Morgan, Biden, –, Jensen Huang, Palo, Stanley Black, Brian Niccol's, Wells, Jim Cramer's, Timothy A, Clary Organizations: Abbott, Devices, Microsoft, AMD, Nvidia, Justice Department, Services, Trump, Apple, Apple Intelligence, Federal, Bristol Myers Squibb, Bristol Myers, Broadcom, Constellation Brands, Modelo, Costco, U.S, Netflix, Coterra Energy, LNG, DuPont, GE Healthcare, GE, Hurricanes, Honeywell Business, Honeywell, Linde, Meta, Facebook, Federal Reserve, GOP, Nvidia's, Industry, Palo Alto, Decker, Starbucks, Walt Disney Parks, TJX, Jim Cramer's Charitable Trust, CNBC, Traders, New York Stock Exchange, Getty Locations: U.S, BlackRock, Corona, China, Dover, –, New York City

☆ U.S. food banks getting busier amid high cost of living
▼ + stars: | 2024-11-28 | by ( Diana Tollison | ) edition.cnn.com time to read: 1 min

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☆ U.S. stocks too expensive? Morningstar's top exec reveals where he's investing instead
▼ + stars: | 2024-11-28 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Attractive returns and a breadth of opportunities are among the reasons the U.S. market historically reigns supreme among investors. However, one market watcher considers U.S. stocks to be expensive and is now seeking opportunities in cheaper markets with what he sees as better risk-adjusted returns. "Many large U.S. stocks appear to be expensive and consequently are offering lower future returns," Morningstar analysts wrote in a 2025 outlook report. 'Attractive pockets' Going forward, Morningstar's top executive is optimistic on markets like Japan and China which present "attractive pockets" of opportunity. 'Pockets of undervaluation' Over in Japan, Kapoor likes that the market offers "pockets of undervaluation."

Persons: Kunal Kapoor, I'm, Kapoor, Morningstar, Warren Buffett Organizations: CNBC Pro, Morningstar, China Holdings, Tokyo Stock Exchange, Nippon ISA Locations: U.S, Japan, China

☆ Chinese yuan to hit record lows as U.S. tariff threat mounts, investment banks forecast
▼ + stars: | 2024-11-28 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +4 min

A Chinese bank worker prepares to count a stack of US dollars together with stacks of 100 Chinese yuan notes at a bank in Hefei, east China's Anhui province on March 9, 2010. STR/AFP | Getty ImagesChinese authorities are contending with a weakening yuan as global investment banks forecast the currency to hit record lows, in anticipation of U.S. president-elect Donald Trump following through with his tariff threats. That would mark the currency's weakest level on record, according to LSEG data going back to 2004. Trump had already pledged 60% or higher tariffs on Chinese goods during his election campaign. The PBOC has been supporting the value of onshore yuan by capping the daily reference rate at 7.20 on the dollar this year.

Persons: Donald Trump, Morgan, Morgan Stanley, Goldman Sachs, Trump, Jonas Goltermann, Kotecha, Wang, Ju Wang, Cedric Chehab Organizations: Getty Images, U.S, UBS, BNP, Barclays, Generale, Morgan, Macquarie Group, Nomura, ING, Oxford, Trump, Capital Economics, FX, Greater China FX, Reuters, BNP Paribas, BMI Locations: Hefei, Anhui, U.S, Asia, China

☆ Financials are the best-performing stocks of 2024. Here's one corner that could do especially well
▼ + stars: | 2024-11-27 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Financial stocks are the best-performing group in 2024 and, even though they're widely thought to have more room to run as a sector, a subset of them are even more favorably positioned. The S & P 500 financial sector has surged 36% so far this year, outpacing both the communication services and information technology sectors that contain all the high-flying megacap technology stocks. XLF YTD mountain Financial Select Sector SPDR Fund (XLF) in 2024. "If this bull market persists, the upside in those fintech names could be 3-4x what we see in the overall XLF," Ginsberg said. Financial stocks may be punished first in the event of a correction in the broader market, Ginsberg said.

Persons: outpacing, Donald Trump's, They've, Trump, Sam Stovall, Rob Ginsberg, Ginsberg Organizations: Basel, CFRA Research, Wolfe Research, P Bank ETF, CNBC, PayPal

☆ What’s open and closed on Thanksgiving Day 2024
▼ + stars: | 2024-11-27 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

Editor’s Note: Get a street-side view of the biggest Thanksgiving Day parades around the country. Watch ‘Thanksgiving in America’ on CNN and CNN Max on Thursday, November 28 at 8 a.m. New York CNN —Many Americans spend Thanksgiving with their loved ones over a home-cooked meal. Postal servicesDon’t expect any packages on Thanksgiving Day. Limited UPS stores will be open.

Persons: CNN Max, Brian Cornell, Nordstrom, Kohl’s, Tom Thumb Organizations: CNN, America ’, New, New York CNN, Turkey, Walmart, Albertsons Companies – Safeway, Albertsons, ACME, Aldi, Costco, Nasdaq, New York Stock Exchange, US Postal Service, UPS, FedEx, Limited Locations: New York, Chicago, Houston, America

☆ Say hello to your new coworker: Autonomous AI agents are coming to banks
▼ + stars: | 2024-11-27 | by ( Bianca Chan | ) www.businessinsider.com time to read: +4 min

Demand for AI agents is giving birth to a new class of startups and VCs hungry to invest in them. It was a topic of conversation at the Evident AI Symposium in New York on Thursday. To take AI agents a step further, technologists and startup investors are fueling a shift to so-called multi-agent systems that coordinate several AI agents to complete more complex tasks more autonomously. Well, that's still being worked out, according to a number of tech executives at the Evident AI Symposium Thursday. Heitsenrether, speaking at the Evident AI conference, told the audience that, over time, she expects AI to be seamlessly embedded in an employee's workflow.

Persons: Danny Goldman's, Michael Lacorazza, Mako, It's, Jamie Dimon, Teresa Heitsenrether, Wall, they're, Gabriel Stengel, Kristin Milchanowski, Ganesh Organizations: Finance, Mako, Khosla Ventures, Bank, Goldman, JPMorgan, BMO Financial Group, of Cambridge Locations: New York, OpenAI

☆ Goldman Sachs Asset Management is fired up about the economy heading into 2025 — but serious risks are still lurking under the surface
▼ + stars: | 2024-11-27 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

AdvertisementThe global economic expansion will continue into 2025, according to Goldman Sachs Asset Management. "But it's all a give and take here, because we're also going to be seeing a lot of efficiencies come into the labor market, potentially." GSAM strategists aren't sweating about the labor market yet, but they're watching those trends closely. Despite their lofty valuations, GSAM isn't bailing on US equities. That may finally change in 2025 as China's government gets serious about economic stimulus, Wilson-Elizondo said.

Persons: Alexandra Wilson, Elizondo, Goldman, Trump's, Wilson, We're, we're, corporates —, it's, aren't, isn't, GSAM Organizations: Goldman Sachs Asset Management, Management, Trump, Companies, Goldman, Wilson

For the past year, comparing short-term CD rates vs. long-term CD rates showed that short-term CDs had better rates overall. Even the best long-term CD rates were starting to dip under the 4% mark, going into the 3.90% APY range. For example, Synchrony Bank's best CD rate is the Synchrony 9 Month CD, which offers 4.05% APY. Long-term CD rates are still lower than short-term CD rates overall. If the risk of incurring early withdrawal penalties in a long-term CD is too much, you can open a CD ladder with a long-term CD in it to mitigate that risk.

Persons: Synchrony, we're, Jerome Powell, Donald Trump, Kit Pulliam, They’ve, Kit Organizations: Federal Reserve, America First Credit, Credit Union, Dow Credit Union, Federal, Pulliam, Business, Tax, MSN, Vanderbilt University Locations: America

☆ I write about scams as part of my job: 6 steps I use to stay safe—all are free and most take under 1 minute
▼ + stars: | 2024-11-27 | by ( Mike Winters | ) www.cnbc.com time to read: +5 min

Turned on Stolen Device Protection on my iPhoneTotal time: 1 minute Say you're in a public place, like a bar, and lose your phone. To combat this, Apple introduced "Stolen Device Protection" in January 2024. To turn on Stolen Device Protection, make sure your iPhone software is updated to iOS 17.3 or later. From there, you can follow these steps: Go to the Settings app, and select "Face ID & Passcode" Enter your passcode Toggle "Stolen Device Protection"3. Signed up for Informed DeliveryTotal time: 1 minute Informed Delivery is a free service offered by the U.S.

Persons: I've, —, Apple Organizations: Social, U.S . Postal Service, Bitwarden

☆ Elon Musk wants to 'delete' a federal agency designed to prevent another financial crisis and protect people from scams
▼ + stars: | 2024-11-27 | by ( Eliza Relman | Catherine Boudreau | ) www.businessinsider.com time to read: +6 min

AdvertisementElon Musk says he wants to eliminate the Consumer Financial Protection Bureau. The CFPB was created after the 2008 crisis to protect consumers from financial abuses. "Delete CFPB," Musk wrote on X early Wednesday of the Consumer Financial Protection Bureau. The agency investigates consumer complaints related to credit cards, loans, bank accounts, and debt collection and enforces consumer protection laws. Earlier this year, the CFPB also limited credit card late fees to $8 a month, compared to the average $32 fee charged by issuers in 2022.

Persons: Elon Musk, Musk, Vivek Ramaswamy, Dodd, Frank, Democratic Sen, Elizabeth Warren, Barack Obama, Warren, Wells Fargo, who've, —, Clarence Thomas Organizations: Financial, Bureau, Elon, Consumer Financial, Trump, Government, Trump Administration, Congress, Democratic, Harvard Law School, Personnel Management, Bank of America, of America, Apple, Google, Federal Locations: Wells Fargo, Wells

☆ Savings, CD and Checking Account Interest Rates Today: Earn up to 4.85% APY
▼ + stars: | 2024-11-27 | by ( Business Insider | ) www.businessinsider.com time to read: +7 min

Featured High Interest Checking Account Offers Compare checking accounts that offer high APYs, rewards on debit card purchases, or both. UFB Direct Freedom Checking with Portfolio Savings: Earn 2.00% APY on your checking account. High-Yield Savings AccountsThe best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. 2-Year CDsThe best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates.

Persons: APYs, —, Cash, we've Organizations: Federal Reserve, Cash Locations: —

☆ Small caps historically outperform even the Santa Claus rally, starting before Thanksgiving
▼ + stars: | 2024-11-26 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

The weeks heading into year-end often mark a bullish time for stocks, and smaller companies especially might be poised for outperformance. With that in mind, Jeffrey Hirsch, editor-in-chief of the Stock Trader's Almanac, believes investors should buy small caps from the Tuesday before Thanksgiving this year and hold them until Jan. 3rd, 2025. The tendency for small caps to outperform large caps from mid-December through January, combined with the so-called Santa Claus rally right around Christmas, can bolster small-cap growth stocks, Hirsch said. That rally "rhymes with the post-2016 election move," according to John Hancock Investment Management co-chief investment strategist Emily Roland. He's really focused more on the food companies, eating healthier, vaccine companies and just making sure they're held to the same standards."

Persons: Jeffrey Hirsch, Jan, Hirsch, Santa Claus, Donald Trump's, Russell, What's, Emily Roland, Julie Biel, Kayne Anderson, Biel, Gregg Fisher, Matt Unger, Robert F, Kennedy Jr, Unger, they're Organizations: Stock, CNBC, Regional Banking, John Hancock Investment Management, Quent, Osterweis Opportunity, Trump, Department of Health, Human Services, RFK Locations: Santa

☆ Hong Kong is becoming a hub for financial crime, US lawmakers say
▼ + stars: | 2024-11-26 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Hong Kong has become a center for money laundering and sanctions evasion under the tightening grip of Beijing, US lawmakers have warned, calling for a re-evaluation of America’s close business relationship with the Asian financial hub. “We must now question whether longstanding US policy towards Hong Kong, particularly towards its financial and banking sector, is appropriate,” they added. Rubio, a fierce critic of Beijing’s crackdown on Hong Kong, has sponsored legislation that sanctioned Chinese and Hong Kong officials for alleged human rights violations in the city. This has massive implications for US businesses with big exposure to Hong Kong,” Fish said. “Sadly, the idea of Hong Kong as autonomous from China is now a farce … US companies need to understand that their Hong Kong operations will likely fall under increased scrutiny.”

Persons: Janet Yellen, ”, “, Donald Trump, Hong Kong, John Moolenaar, Raja Krishnamoorthi, Trump, Marco Rubio, Rubio, Scott Bessent, Isaac Stone Fish, Bessent –, ” Fish Organizations: Hong Kong CNN, CNN, US Treasury Department, Hong, European Union, Treasury Department, Republican Rep, White, US Locations: Hong Kong, Beijing, China, Washington, Hong, Russia, North Korea, People’s Republic of China, Iran, Ukraine, Russian, United Kingdom

☆ After Trump’s Tariff Threat, Is a China Currency War Next?
▼ + stars: | 2024-11-26 | by ( Keith Bradsher | ) www.nytimes.com time to read: +1 min

Beijing has a powerful tool for responding to President-elect Donald J. Trump’s threatened new tariffs on Chinese goods: It could start a currency war, a step that poses formidable risks for China as well as the United States. Letting China’s currency, the renminbi, lose value against the dollar would be a tried and true answer to tariffs. A cheaper renminbi would make Chinese exports less expensive for overseas buyers, mitigating the harm to China’s competitiveness from Mr. Trump’s tariffs. A strategic devaluation of China’s currency, which is tightly controlled by the country’s central bank, could allow Beijing to supercharge its powerful export machine. China is poised for further gains, as its banks step up lending to build new factories.

Persons: Donald J, Trump’s, Trump Locations: Beijing, China, United States, Canada, Mexico

U.S. President-elect Donald Trump at a viewing of a test-flight launch of the SpaceX Starship rocket in Brownsville, Texas, Nov. 19, 2024. Brandon Bell | Getty Images News | Getty ImagesAs Inauguration Day nears, investors are trying to unravel what booms or busts lay ahead under President-elect Donald Trump. Yet the energy sector climbed 22.9% under Biden as of Nov. 19, despite the administration's push for renewables and sustainability. As president, Trump is expected to embrace crypto more than any of his predecessors. When Biden won in 2020, there was a lot of panic about the outlook for energy, oil and gas.

Persons: Donald Trump, Brandon Bell, Jeremy Goldberg, Goldberg, Larry Adam, Raymond James, Trump, Adam, Biden, Monty Rakusen, John Murphy, Murphy, Callie Cox, Cox, Greg Iacurci Banks, Jamie Dimon, Andrew Harrer, Brian Spinelli, Halbert Hargrove, Spinelli, David Rea, Lorie Konish, Bill Varie, —, — Greg Iacurci Crypto, Kevin Wurm, Matt Apkarian, Apkarian, Christina Lynn, there's, Lynn, — Lorie Konish, Cooper Neill, Joe Biden, Mike Cerasoli, Cerasoli, you'll, — Lorie, Images Trump, Robert F, Kennedy Jr, bode, David Weinstein, Weinstein, Chris Unger, Charles, Vivek Ramaswamy, Greg Iacurci, Thomas Barwick, Ted Decker, Decker, TJ Maxx, Lorraine Hutchinson, — Greg Iacurci, Donald J Organizations: SpaceX, Getty, Trump, Professional Advisory Services, Digitalvision, EV, Biden, Bank of America Securities, Ford, Ritholtz Wealth Management, U.S . Federal, JPMorgan Chase &, White, Bloomberg, CNBC, Salem Investment, Bank, — Greg Iacurci Crypto Republican, Reuters, bitcoin, Liberty Financial, Cerulli Associates, Mariner Wealth, — Lorie Konish Energy, Double Eagle Energy Holdings LLC, Eagle Global Advisors, Images, Department of Health, Human Services, RFK, U.S . Senate, Merck, Pfizer, Dana Investment, Affordable, Publicly, HCA Healthcare, UFC, Madison, Garden, Ufc, Medical, Charles River Laboratories, Food and Drug Administration, of Government, Retailers, Walmart, Marshalls, Google, Twitter, Trump National Golf Club, Washington Post Locations: Brownsville , Texas, California, U.S, Iran, Venezuela, Washington, Long Beach, Calif, Salem, Winston, Salem , North Carolina, Ritholtz, Nashville , Tennessee, cryptocurrency, Lynn, Midland , Texas, Houston, New York, China, North America, HomeGoods, Bedminster , NJ, Jabin

☆ Gold plunges 3% as Trump Treasury pick and potential Israel-Hezbollah truce fuel risk-on mood
▼ + stars: | 2024-11-26 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +4 min

Gold prices lost about 3% after President-elect Donald Trump picked Scott Bessent as his Treasury secretary, with reports of Israel and Hezbollah nearing a ceasefire deal also eroding the safe-haven metal's appeal. A potential Israel-Hezbollah ceasefire agreement and Bessent's appointment were the key contributors to the bullion selloff amid a risk-on sentiment, Shiels added. Higher interest rates tend to erode the appeal of non-interest bearing gold compared to Treasuries — a competing safe-haven asset. Gold prices fell to a two-month low right after Trump's victory before rebounding to the $2,700 levels. Similar to when the Middle East conflict first broke out, gold prices tend to react very sharply initially before correcting over time as economic factors come back into focus, Eckford added, maintaining that gold prices were still set to advance toward $3,000 in 2025.

Persons: Jerome Powell, Donald Trump, Scott Bessent, Nicky Shiels, Danny Danon, Israel, John Kirby, it's, Bessent, Daniel Ghali, Shiels, Ghali, Donald Trump's, Trump, Robert Eckford, Rua Gold, Eckford Organizations: Federal, New York Mercantile, MKS, House, Key, Shanghai Gold Exchange, Federal Reserve, CNBC Locations: Israel, Key U.S, Canada, Mexico, Russian, Ukraine

☆ When I moved from England to Florida 12 years ago, these 5 things seemed uniquely American to me. Now I can't live without them.
▼ + stars: | 2024-11-26 | by ( Lisa Trabin | ) www.businessinsider.com time to read: +3 min

AdvertisementWhen I moved from England to Florida 12 years ago, I found a few aspects of my new life strange. Twelve years ago, I married my American husband and moved from York, England, to Florida. AdvertisementHowever, now that I've been here for a while, I've grown to love many of the things I once found odd. Here are five aspects of life in Florida that I've grown to love. Related storiesThe elaborate outdoor seasonal decor caught my attentionI've grown to love elaborate holiday displays.

Persons: I've, I'm, Carol Yepes Organizations: Sunshine Locations: England, Florida, York, Canada, Europe, New England

Greg Abbott challenged President Joe Biden at almost every turn on the handling of the US southern border, as the state grappled with multiple border surges. Abbott described the upcoming border actions as a coordinated effort between border states and Washington. Texas officials and federal officials have historically worked together on the US-Mexico border. Texas state officials tout the work of their operation, arguing it served as a deterrent, and federal officials cite Biden’s executive action that levied harsher consequences for border crossers. “Texas has really been a lab for how mass round-ups of immigrants would work and how you can practically do it,” said Kristin Etter, the director of policy and legal Services at the Texas Immigration Law Council.

Persons: Greg Abbott, Joe Biden, Abbott, “ We’re, ” Abbott, Fox News ’ “ Hannity, ”, Donald Trump’s, “ We’ve, Trump, —, Michael Banks —, Tom Homan, Banks, Biden, Brad Coe, he’s, “, Coe, who’ve, Tom Schmerber, Schmerber, I’d, dueled, –, Kristin Etter Organizations: CNN, Trump, Texas Gov, Lone Star, Democratic, Fox News, Biden White, Customs, Abbott, Texas National Guard, Texas Department of Public Safety, Fox Business, National Guard, Homeland Security, Texas, Operation Lone Star, Republican, Maverick, Democrat, Department of Homeland Security, Biden Justice, Justice Department, Circuit, Texas Immigration Law Council Locations: Texas, Rio, But Texas, — Texas, Mexico, Washington, Kinney County, Maverick, Maverick County, Rio Grande, El Paso, “ Texas

☆ Hedge fund bets on a key oil and gas supply chain stock, saying it could rise over 300%
▼ + stars: | 2024-11-26 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

London-based hedge fund Granular Capital has revealed a renewed interest Borr Drilling , saying the offshore drilling company's shares could increase by up to 300% or 400%. The hedge fund's thesis centers on Borr's fleet of 24 modern jack-up rigs – specialized vessels used to maintain oil and gas production in shallow waters. Additionally, about one-third of the global jack-up fleet is approaching or has exceeded retirement age, suggesting a likely decrease in available equipment going forward. Singapore, which previously constructed 50% of global jackup rigs, has largely converted its manufacturing capacity to other uses. This week, Seatrium signed an agreement with India's Cochin Shipyard to build jack-up rigs, potentially at a lower cost in the future.

Persons: Thiago Mordehachvili, there's, Mordehachvili, Tor Olav Trøim, Sebastian Grindheim, Borr, Truls Olsen, Evercore, Jason, Granular's Mordehachvili, Seatrium Organizations: Borr, Sohn Conference, NYSE, Arctic Securities, Exxon Mobil, Valeura Energy, Fieldwood Energy, FactSet, Fearnley Securities, CNBC Pro, Keppel Offshore, India's, Shipyard Locations: Norway, Saudi Aramco, Malaysia, Thailand, Mexico, Mordehachvili, Singapore

☆ Bird flu detected in raw milk sold in California, health officials say
▼ + stars: | 2024-11-25 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

Bird flu has been detected in a batch of raw milk sold in California stores and the state’s department of public health said Sunday that the public should not drink it. No one has become sick nor contracted the disease from this lot of raw milk, the California Department of Public Health (CDPH) noted. Raw FarmUnlike most milk sold in stores, raw milk has not been pasteurized, a process that includes heating to a high temperature to kill harmful germs and viruses. The CDPH said that drinking or inhaling raw milk with bird flu virus may lead to illness. Further, touching your eyes, nose or mouth with unwashed hands after touching raw milk with bird flu virus may also lead to infection.

Persons: it’s, Robert F, Kennedy Jr, Donald Trump, Gwyneth Paltrow Organizations: California Department of Public Health, Centers for Disease Control, Prevention, Department of Health, Human Services, Food, Raw, Santa Clara Public Health Laboratory, California Animal Health, Food Safety Laboratory, California Department of Food, Agriculture, RAW, CDFA, California State, NBC Locations: California, Fresno County

☆ Credit Agricole, Standard Charted and more could follow UniCredit's deal-making spree, JPMorgan says
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCredit Agricole, Standard Charted and more could follow UniCredit's deal-making spree, JPMorgan saysItalian lender UniCredit on Monday offered to snap up its domestic rival Banco BPM for roughly 10 billion euros ($10.5 billion). Now, Kian Abouhossein, head of European bank equity research suggests that other European banks could also begin deal making.

Persons: UniCredit, Kian Abouhossein Organizations: Credit, JPMorgan, Banco

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