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☆ One of Trump’s Treasury contenders hails from the most cutthroat private equity firm on Wall Street
▼ + stars: | 2024-11-22 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

The words “private equity” are almost poetic in their power to obfuscate in such a way that most people simply tune out when they hear them. But there’s a reason workers tend to have a negative association with private equity. Per Bloomberg, Apollo “built its name as the scrappiest private equity and distressed-debt investor on Wall Street by buying businesses and loading them up with debt that offered creditors meager protections in the face of default.”Historically, private equity deals were largely handled by big banks. Private equity firms now hold controlling stakes across an array of industries, including supermarkets, housing, health care, fashion, restaurants and vet clinics. And other efforts to force more transparency and accountability in private equity have similarly faced opposition.

Persons: CNN Business ’, Marc Rowan, Donald Trump’s, Rowan, Bill Lazonick, he’s, ”, Megan Greenwell, aren’t, ” Dennis Kelleher, Apollo “, it’s, Sen, Elizabeth Warren of, hadn’t, Scott Bessent, Kevin Warsh, “, ” Greenwell Organizations: CNN Business, New York CNN, Apollo Global Management, Treasury, OCC, Republicans, Industry Research Network, — Bloomberg, KKR, Blackstone, Carlyle Group, Securities and Exchange Commission, “, Research, Treasury Department, Bloomberg, Financial Times, Federal Reserve Locations: New York, ”, Elizabeth Warren of Massachusetts

The suits were brought by the Fair Housing Center of Central Indiana, an advocacy group serving residents of 24 counties in the state. Federal prosecutors have also alleged that tenant screening checks can be discriminatory. Fair Housing Center of Central Indiana“I sent them my expungement records, but I kept getting denied,” Williams recalled in a phone interview. TransUnion settled the suit without admitting or denying the allegations and paid $15 million, the largest amount recovered in a tenant screening matter, the FTC said. “We want safe communities where people can contribute, can build their lives, and that’s what fair housing laws are here to do.”

Persons: Don Mullen, Goldman Sachs, ”, Amy Nelson, we’ve, Brady Ripperger, Ericka Fotsch, Blackstone, Tricon, Marckus Williams, Williams, ” Williams, TransUnion, Nelson, “ Organizations: Blackstone Group, New, Pretium Partners, Goldman, Fair Housing, of Central, ” Staff, of Central Indiana, Tricon, Blackstone, National Consumer Law Center, Progress, of, NBC News, Housing, of Central Indiana “, Federal Trade Commission, Consumer Financial, FTC, Indiana Locations: Indianapolis, California, New York City, of Central Indiana, Indiana, Eastern, of Missouri, Kinloch

☆ This grocery store CEO says Thanksgiving is the ‘cheapest’ meal you’ll have all year
▼ + stars: | 2024-11-21 | by ( Maya Blackstone | ) edition.cnn.com time to read: 1 min

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☆ U.S. 'industrial renaissance' is fueling a rebound in fundraising, Apollo CEO Marc Rowan says
▼ + stars: | 2024-11-20 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Jonathan Gray, president and chief operating officer of Blackstone Inc., from left, Ron O'Hanley, chief executive officer of State Street Corp., Ted Pick, chief executive officer of Morgan Stanley, Marc Rowan, chief executive officer of Apollo Global Management LLC, and David Solomon, chief executive officer of Goldman Sachs Group Inc., during the Global Financial Leaders' Investment Summit in Hong Kong, China, on Tuesday, Nov. 19, 2024. An "industrial renaissance" in the U.S. is fueling demand for capital, Marc Rowan, CEO of Apollo Global Management said at the Global Financial Leaders' Investment Summit in Hong Kong. "There is so much demand for capital, [including through debt and equity] ... What's going on is nothing short of extraordinary," Rowan said on Tuesday during a panel discussion. "What we're watching is this incredible demand for capital happening against a backdrop of a U.S. government that is running significant deficits. Rowan and other panelists also identified energy and data centers — needed for artificial intelligence and digitization — as growth sectors requiring more capital.

Persons: Jonathan Gray, Ron O'Hanley, Ted Pick, Morgan Stanley, Marc Rowan, David Solomon, What's, Rowan, Donald Trump Organizations: Blackstone Inc, State Street Corp, Apollo Global Management LLC, Goldman Sachs, Inc, Global Financial, Investment, Apollo Global Management, Blackstone Locations: Hong Kong, China, U.S

☆ Carson Block is shorting cosmetics company E.L.F. Beauty, saying it's a 'revenue and investor mystery'
▼ + stars: | 2024-11-20 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

AdvertisementSpeaking at the Sohn conference in London, Muddy Waters founder Carson Block said he was short E.L.F Beauty. Notorious short-seller Carson Block has a new target: discount cosmetics company E.L.F. AdvertisementUsing import data and referencing conversations the Muddy Waters founder and his team had with E.L.F. "Its reported inventory also appears materially inflated as a result — i.e., to account for cash that has not really come in." AdvertisementBlock and his firm, Muddy Waters, have been a thorn in the side of plenty of companies, big and small.

Persons: Muddy, Carson Block, E.L.F, Block, Muddy Waters, Block's, Blackstone Organizations: Sohn, Muddy Waters, Sohn Conference Locations: London, California, Muddy, China

☆ Meet the Jersey Mike's founder now worth $7.5 billion after selling his sandwich chain to Blackstone
▼ + stars: | 2024-11-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

AdvertisementMeet Peter Cancro, the Jersey Mike's founder who's selling the sandwich chain to Blackstone. The founder and CEO of Jersey Mike's is now worth an estimated $7.5 billion, propelling him into 390th place on the Bloomberg Billionaires Index. Blackstone said Tuesday it had agreed to buy a majority stake in Jersey Mike's. Jersey Mike's is the second-largest sandwich chain after Subway. Justin Sullivan/Getty ImagesCancro changed the company's name to Jersey Mike's when he began franchising in 1987.

Persons: Peter Cancro, Cancro, that's, Netflix's Reed Hastings, eBay's Jeff Skoll, Giorgio Armani, Mark Cuban, Blackstone, Jersey Mike's, It's, Danny DeVito, Justin Sullivan, — Organizations: Bloomberg, Jersey, —, Hilton Locations: Jersey, Blackstone, Jersey Mike's, Jersey Shore

☆ Milan’s Via Monte Napoleone is now the world’s most expensive shopping street
▼ + stars: | 2024-11-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Milan’s Via Monte Napoleone has beat out New York’s Fifth Avenue to become the world’s most expensive shopping street, marking the first time a European city has topped the rankings. The Gucci store on Fifth Avenue in New York City, seen in March 2024. In April, Gucci parent Kering paid €1.3 billion ($1.4 billion) to acquire a building on Via Monte Napoleone from a subsidiary of Blackstone. The world’s 10 most expensive shopping locations, by rent per square foot, according to Cushman & Wakefield:1. Via Monte Napoleone, Milan2.

Persons: Thomas Casolo, ”, Gucci, Michael M, Robert Travers, Kering, Blackstone . Chanel, Versace, Cartier, Celine Organizations: London CNN, New, Cushman &, Bond, Hong, Cushman, Wakefield’s, Italy, CNN, Via, Blackstone ., Henley & Partners, Cushman & Wakefield, New Bond, Tsui, Pitt, Mall Locations: Napoleone, Cushman & Wakefield, Paris, New York City, Europe, East, Africa, Via Monte Napoleone, Bottega, Milan, New York, London, Hong Kong, Ginza, Tokyo, Bahnhoftstrasse, Zurich, Sydney, Myeongdong, Seoul, Kohlmarkt, Vienna

☆ New York City's Fifth Avenue has been dethroned as the world's most expensive shopping street — here's the new Top 10
▼ + stars: | 2024-11-20 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

AdvertisementMilan has dethroned New York City as home to the world's most expensive street in retail. Via Monte Napoleone boasts annual rents of $1,959 per square foot, per a new report. New York City's Fifth Avenue has been dethroned as the most expensive shopping street in the world, according to a new report from a global real estate firm. Milan's Via Monte Napoleone has taken the crown — marking the first time a European city has topped a list compiled by property consultancy Cushman & Wakefield. Here are the 10 most expensive shopping streets worldwide, according to Cushman & Wakefield.

Persons: Shou Zi Chew, Andreas Siebert, Gucci, Saint Laurent, Kering, it's Organizations: New, New York, Cushman & Wakefield, Cushman & Locations: Milan, New York City, Napoleone, New, Singapore, Tokyo, Paris, Zurich, Via Monte Napoleone, Blackstone, Cushman & Wakefield

☆ Investment Committee Moves: EPAM, Paycom, Blackstone, Healthequity, Booz Allen, Leidos, and Vertiv
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestment Committee Moves: EPAM, Paycom, Blackstone, Healthequity, Booz Allen, Leidos, and VertivKaren Firestone and Steve Weiss join CNBC's 'Halftime Report' to detail their latest portfolio moves.

Persons: Booz Allen, Leidos, Vertiv Karen Firestone, Steve Weiss, CNBC's Organizations: Email Investment, Blackstone, Healthequity Locations: Paycom

☆ Jersey Mike’s Subs is worth $8 billion after a huge investment from Blackstone
▼ + stars: | 2024-11-19 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

Blackstone announced Tuesday that it has acquired a “majority ownership position” in Jersey Mike’s, valued at around $8 billion, according to a source familiar. The influx of cash will help the sandwich chain “accelerate its expansion across and beyond the US market, as well as its continued investment in technology and digital transformation,” a statement said. “We believe we are still in the early innings of Jersey Mike’s growth story and that Blackstone is the right partner to help us reach even greater heights,” Cancro said in a statement. Jersey Mike’s is the second-largest sandwich chain behind Subway in sales. Data from QSR Magazine reveals Jersey Mike’s locations pull in about $1.35 million per unit, with an average Subway location raking in less than $500,000.

Persons: Peter Cancro, who’s, “, Blackstone, ” Cancro, Roark Organizations: New, New York CNN, Jersey, Subway, Blackstone, QSR Magazine, Roark Capital Locations: New York, Jersey, New Jersey, Canada

☆ Grocery prices are high. Trump’s mass deportations could make matters worse
▼ + stars: | 2024-11-18 | by ( Matt Egan | Maya Blackstone | ) edition.cnn.com time to read: +9 min

Soon, Trump’s ability to fix America’s affordability crisis will collide head-on with another, perhaps more prominent, campaign trail promise: Mass deportations. And perhaps no industry relies on undocumented workers more than the food and agriculture industries. “The only question is how high prices will go.”Zandi noted that food prices could also be pushed higher by another element of the Trump agenda: Massive tariffs. The Trump transition team did not respond to a request for comment about how mass deportations would impact food prices. The current immigration system does not allow for green cards for farm workers.

Persons: Donald Trump, Trump, you’re, ”, Chuck Conner, don’t, Conner, Fred Leitz, Leitz, Mark Zandi, “, ” Zandi, Trump’s, It’s, Rick Naerebout, that’s, Biden, Scott Bessent, ” Bessent, Axios, Trump “, David Paul Morris, Zeke Hernandez, “ It’s, Hernandez, Chloe East, Letiz, Naerebout, “ aren’t, ” Robert Lynch, Lynch, —, ” Naerebout Organizations: New, New York CNN, CNN, National Council of Farmer Cooperatives, US Department of Agriculture, Center for American Progress, Moody’s, Trump, United, Idaho Dairymen’s Association, Wall, Bloomberg, Getty, Wharton School, University of Pennsylvania, Immigration, University of Colorado Denver, The Hamilton, Brookings Institution, Washington College, American Locations: New York, United States, Michigan, Idaho, San Francisco, Brookings, Maryland

☆ Disney is avoiding more political dust-ups, but Netflix is bringing the fight to the media giant when it comes to live sports
▼ + stars: | 2024-11-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. In today's big story, Disney reported strong earnings and has a bright outlook on the future, but it doesn't want to discuss politics . The big storyLet's not talk politicsBob Iger, CEO of Disney Charley Gallay/Getty ImagesWhen it comes to Donald Trump, Disney is taking a page from its famous mascot and being as quiet as a mouse. But the king of streaming — Netflix — seems unstoppable , and it's threatening a space that Disney's ESPN previously had a stronghold: live sports.

Persons: —, it's, Bob Iger, Disney Charley Gallay, Donald Trump, didn't, Iger, we've, Minnie Mouse, Iger's, BI's Lucia Moses, Ron DeSantis, Trump, Hulu —, Jake Paul, Mike Tyson, Michael Ostuni, Tyler Le, Fiona Carter, Goldman Sachs, Jerome Powell, it's Elon, Steve Schwarzman's, Sam Altman, Elon Musk, Tesla, Lina Khan's, Rebecca Zisser, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Disney, Revenue, Trump, Walt Disney World, Anadolu, Getty, Disney's ABC, ESPN, Netflix, Federal Reserve, EV, Microsoft, Federal Trade Commission Locations: Asia, Hollywood, Florida, Blackstone, ChatGPT, New York, Chicago, London

☆ Inside the secretive operation helping manage billionaire Steve Schwarzman's vast fortune
▼ + stars: | 2024-11-15 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +14 min

Schwarzman has called Blackstone his family office, but he has another family office, BI has learned. Inside Schwarzman's secretive family office with a name that harkens back to his childhood. The concept of the family office can be traced to the 1838 founding of the House of Morgan to handle J.P. Morgan's fortune. Every family office, however, is just as unique as the wealthy family that's spawned it, he said. Advertisement"The term family office," Sharpe said, "is possibly the most misused, overused, and poorly used term in finance today."

Persons: Steve Schwarzman, Schwarzman, Blackstone, —, Averell Harriman, Harriman, Brown, Harry Truman, Donald Trump, Christine Hearst Schwarzman, Gwen Stefani, Theo Wargo, Pennypack, Steve Schwarzman's, Blackstone Schwarzman, Pete Peterson, Marc Sharpe, Michael Dell, Sharpe, they're, Stephen A, John Magliano, Magliano, Paul A ., LLCs, tony Easton, Hearst, Alexi Rosenfeld, Trump's, Stephen Schwarzman, Jabin, Tim Sheehy, Montana, Sheehy, Morgan Organizations: Service, Bloomberg, Ford Motor Co, White, New York Public Library, Metropolitan, Bank of America Securities Financial Services, Blackstone, Vanguard, Family Office Association, Dell Computer, BI, Getty, Schwarzman, LinkedIn, Hearst Schwarzman, Art, Federal Communications Commission, MIT, Humanities, Oxford, New York Public, Schwarzman Education Foundation, Tsinghua University, Policy, Washington, Getty Images Locations: New York, Vietnam, Manhattan, Philadelphia, Blackstone, Schwarzman, Pennypack, Delaware, Nantucket , Massachusetts, Nantucket, Schwarzman's, Newport , Rhode Island, Miramar, Wiltshire, England, Newport ., Beijing, China, North America

☆ Why Trump’s mass deportations could raise grocery prices
▼ + stars: | 2024-11-15 | by ( Maya Blackstone | ) edition.cnn.com time to read: 1 min

☆ Wall Street bonuses are expected to boom for the first time since 2021
▼ + stars: | 2024-11-14 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +4 min

See who stands to take home the biggest checks, according to the comp consultant Johnson Associates. It predicted that some financial-services professionals could see year-end bonus increases of as much as 35% over last year. Here's a look inside three slides from the Johnson Associates report that illustrate key findings. Johnson Associates' 2024 year-end incentives reportDebt underwriters stand to see the biggest bonus bumps this year — up to 35% over 2023, Johnson Associates' founder, Alan Johnson, told Business Insider. Johnson Associates' 2024 year-end incentives reportOverall, the numbers are good compared with the past couple of years, and OK in the grander scheme of things, he said.

Persons: Johnson, —, Goldman Sachs, Alan Johnson, it's Organizations: Service, Johnson Associates, Goldman, Blackstone, underwriters, Equity, Investment, Federal

☆ The winners of Wall Street bonus season this year: the underwriters
▼ + stars: | 2024-11-12 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +4 min

It predicted that some financial services professionals could see year-end bonus increases of as much as 35% over last year. AdvertisementThe financial professionals poised to rake in the most, meanwhile, are not the usual "rainmakers" of Wall Street, but rather a more behind-the-scenes group: the underwriters. Here's a look inside three slides that illustrate key findings from the Johnson Associates report. Debt underwriters stand to see the biggest bonus bumps this year — up to 35% over 2023, Johnson Associates founder Alan Johnson told BI. AdvertisementJohnson sees bonuses for asset management professionals increasing anywhere from 7% to 12% and bumps of 5% to 15% for hedge fund employees.

Persons: Johnson, —, Goldman Sachs, Alan Johnson, it's Organizations: Service, Johnson Associates, Goldman, Blackstone, underwriters, Debt, Equity, Investment, Federal

Elon Musk embraces Donald Trump during a campaign rally in Butler, Pennsylvania on Oct. 5, 2024. Kissinger was deeply respected in China and continued to meet with its leaders as an unofficial diplomat in efforts to promote warmer relations between the two countries. Just months before Kissinger died in November 2023, he met with Chinese President Xi Jinping in Beijing in July 2023. They may not reach the same impact as Kissinger, given the more complex period, he said, though they could help stabilize relations. Cook and Schwarzman also regularly visit leaders in China, where they are often highlighted by Beijing as examples of positive China-U.S. business and trade relations.

Persons: Elon Musk, Donald Trump, Anna Moneymaker, Elon, Kissinger, Scott Kennedy, Henry Kissinger, Xi Jinping, Tesla, Li Qiang, Wang Yiwei, Wang, Musk's, Musk, Joe Biden, Biden, Trump, Wang Huiyao, Tim Cook, Blackstone, Stephen Schwarzman, Cook, Schwarzman, Dewardric Organizations: Getty, White, Economics, Center for Strategic, International Studies, U.S, SpaceX, Renmin University, CNBC, Trump, Center for, Longview Global Locations: Butler , Pennsylvania, Beijing, China, Washington, imploding, U.S, Center for China, Dewardric McNeal

☆ Startups are ready to thrive under Trump, but some uncertainty remains in a key corner of the space
▼ + stars: | 2024-11-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . What's on deck:Markets: The Wall Streeters advising Trump's transition team on key economic appointments . But regulators launched investigations and filed lawsuits against Big Tech during Trump's first term. News briefTop headlinesAdvertisement3 things in marketsChip Somodevilla/Getty Images; Getty; Rebecca Zisser/BIWho Trump is turning to on Wall Street for advice.

Persons: —, Drew Brees, Donald Trump's, Elon, Jenny Chang, Rodriguez, Donald Trump, Elon Musk, Trump, Samantha Stokes, Riddhi Kanetkar, Helen Li, Biden, Lina Khan's, Money, Chip Somodevilla, Meta's Mark Zuckerberg, JD Vance, Khan, Zuckerberg, Amazon's Jeff Bezos, OpenAI's Sam Altman, Somodevilla, Rebecca Zisser, Cantor Fitzgerald, Howard Lutnick, Marc Rowan, Blackstone, Steve Schwarzman, Charles Schwab, Herb Sutter, Ken Griffin's, Sutter, he's, Jordan Strauss, Elon Musk's, Reddit, Lebaredian, Chelsea Jia Feng, Kamala Harris, it's, Dan DeFrancesco, Grace Lett, Hallam Bullock, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Super Bowl, Tech, Trump, Microsoft, Nvidia, Big Tech, Wall, Citadel Securities, White, BI, Google, Veterans, World Meteorological Organization Locations: States, Anthropic, Reddit's, New York City, State, Azerbaijan, New York, Chicago, London

☆ Stocks to buy once election results are clear and volatility eases, according to Bank of America
▼ + stars: | 2024-11-06 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Several stocks could rise if market volatility scales back after Tuesday's U.S. presidential election, according to a Bank of America analysis. Stock market volatility climbed ahead of the election, with the Cboe Volatility Index , known as Wall Street's "fear gauge," crossing 23 on Thursday. But with the winner of the election decided, the VIX has eased to around 16 on Wednesday. To react to this scenario, Bank of America screened for several lower-quality stocks inversely correlated to the VIX that could see a pop in their share prices. Morgan Stanley revised its 2024-25 revenue estimates on NXP lower, expecting a period of stagnation in the automotive semiconductor market.

Persons: Morgan Stanley, Brandon Berman Organizations: U.S, Bank of America, Semiconductors, Builders, United Rentals, Autodesk, financials Citigroup, Blackstone, Citigroup Locations: Netherlands, Europe, Americas

☆ Company executives are speaking out on Election Day: Starbucks' Howard Schultz calls for a peaceful transition of power
▼ + stars: | 2024-11-05 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +9 min

Business leaders are speaking out on Election Day — including Starbucks founder Howard Schultz. AdvertisementElection Day has finally come, and executives at some of the biggest companies are speaking out — with former Starbucks CEO Howard Schultz urging a peaceful transition of power and Elon Musk reiterating his support for Donald Trump to the end. Major players like Musk and Blackstone CEO Stephen Schwarzman have previously endorsed former President Trump. "Once every vote is counted and certified, we must accept the results of the election and ensure the peaceful transition of power," he said. In addition to re-posting several pro-Trump messages from other X users, Musk wrote a few election-related posts of his own.

Persons: Howard Schultz, Schultz, Elon Musk, Reid Hoffman, Harris, —, Donald Trump, Stephen Schwarzman, Trump, Mark Cuban, Kamala Harris, Insider's Bryan Metzger, he's, Howard Schultz Howard Schultz, Spencer Platt, Joe Biden, Hillary Clinton, Reid Hoffman Reid Hoffman, Kimberly White, Hoffman, " Hoffman, Marc Piasecki, Musk, Joe Scarborough, Vinod Khosla Vinod Khosla, Steven Ferdman, Vinod Khosla, Kamala, Khosla, Robert F, Kennedy Jr, Cantor Fitzgerald, Howard Lutnick Howard Lutnick, ANGELA WEISS, Howard Lutnick, Lutnick, Palmer Luckey Palmer Luckey, Oculus, Patrick T, Fallon, Palmer, Luckey, Walz, Andrew Bosworth, JOSH EDELSON, Getty Andrew Bosworth, Bosworth, Eli Lilly, Lockheed Martin, General Mills, Johnson Organizations: Starbucks, Trump, Service, Blackstone, Getty, LinkedIn, Greylock Partners, Liberty, SpaceX, Elon Musk Elon, Tesla, Pennsylvania, Billionaire, Sun Microsystems, Wall Street, Philadelphia Inquirer, Financial Times, Bloomberg, Anduril Industries, Meta, Big Tech, National Association of Manufacturers, General Motors, Penske, Panasonic Locations: Jerusalem, Fortnite, AFP

☆ The trader guide to the election: Which stocks Wall Street expects to benefit under Trump or Harris
▼ + stars: | 2024-11-05 | by ( Fred Imbert | ) www.cnbc.com time to read: +10 min

Generally, a Trump win is seen as positive for financials given a higher likelihood of deregulation for companies in the space. Traditional oil and gas names are also likely to benefit under a second Trump presidency. One is made up of stocks that benefit after a Harris win; the other would outperform under a second Trump presidency. However, a Harris win is expected to keep current regulation measures in place, and possibly introduce new ones. Private equity giants KKR and Blackstone would also benefit under a Trump win.

Persons: Kamala Harris, Donald Trump, Paul Gallant, Cowen, Gallant, Harris, Goldman Sachs, Daniel Clifton, Strategas, Andrew Garthwaite, Trump, Garthwaite, TAN, we've, Biden, Wells, Ike Boruchow, Boruchow, —, Russell, Joe Biden, Morgan Stanley, Crypto, isn't, Nic Puckrin, bitcoin, Marcelli, Financials, Wolfe, Chris Senyek, Lazard Organizations: Congress, U.S ., Trump, U.S . Trump, GOP, Democratic, CNBC Pro, Wall, Strategas, Enterprise, of America, Ford, UBS, Apple, Enphase Energy, Technologies Enphase, Exxon Mobil, Chevron, Trump Media & Technology, Trump Media, Cadence Bank, Viking Therapeutics, Bureau, CNBC, Wolfe Research, Lazard, Private, KKR, Blackstone, Evercore Locations: Washington, of America Cleveland, Cleveland, China

☆ Chip fever has created an $11 billion debt market backed by Nvidia's AI-enabling GPUs
▼ + stars: | 2024-11-04 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Top Wall Street lenders have created a big debt market back by red-hot Nvidia GPUs. A report from the FT says firms have made billions in loans to companies that use Nvidia chips as collateral. AdvertisementTop Wall Street firms have loaned billions to a handful of tech companies that have used Nvidia's artificial intelligence-enabling GPUs as collateral, The Finanacial Times reported. According to the FT, big financial institutions including BlackRock, Blackstone, Pimco, and Carlyle, have made over $11 billion in loans to "neocloud" companies, tech companies that provide cloud services to other tech firms building AI products. There are concerns, though, over the value of Nvidia's GPUs, with the price of existing AI chips potentially coming down as more advanced models are released and as companies potentially dial back AI spending.

Persons: —, Carlyle, Willy Wonka's Organizations: Nvidia, FT, Service, Finanacial Times, BlackRock, Blackstone, Lambda Labs, Leasing, Business Locations: Wall

Business Insider selected 25 young professionals 35 and under for its rising stars of Wall Street list. AdvertisementThere's no shortage of colorful characters depicting Wall Street. Two of those are fictional movie characters, and one was based on real person, but they have all shaped the public's perception of what working on Wall Street could be like. We asked up-and-comers on Wall Street about the shows, movies, or books that best represent their daily lives. Here are the shows, movies, or books that give a flavor of what it's like to work on Wall Street.

Persons: —, Mark Zhu, There's Organizations: Service, Blackstone

☆ Commercial real estate is flashing signs that the worst of the distress is over, Blackstone president says
▼ + stars: | 2024-11-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The worst is behind the commercial real estate sector, according to Blackstone's Jon Gray. AdvertisementThe worst of the commercial real estate turmoil looks to be over, Blackstone president Jon Gray says. Related stories"We said in January, publicly on earnings, that we thought commercial real estate was bottoming. So they're saying to themselves, 'Real estate, oh, I got all this troubled real estate. "If you were an investor in real estate after the financial crisis, you would have made a lot of money.

Persons: Blackstone's Jon Gray, there's, Blackstone, Gray, —, Jon Gray, Goldman Sachs, we've, didn't Organizations: Service, Blackstone Locations: CRE, Europe, Asia

☆ Betting on the election is the hottest new trend. But can prediction markets keep the momentum going?
▼ + stars: | 2024-10-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The big storyPresidential betsChris duMond; Chip Somodevilla/Getty Images; Jenny Chang-Rodriguez/BIWe're less than a week from election day, but one group can already claim victory: betting markets. Kalshi's legal victory in October over the CFTC to offer election betting paved the way for the trend. iStock; Rebecca Zisser/BIThe betting market's biggest tests might come after the election. Betting markets have Trump as a heavy favorite, whereas traditional polls indicate a tight race. AdvertisementShould Trump win in a landslide, it could strengthen the case for using betting markets as a key tool for election analysis.

Persons: —, Chris duMond, Chip Somodevilla, Jenny Chang, Rodriguez, Matthew Fox, Donald Trump, Polymarket, iStock, Rebecca Zisser, Nate Silver, Tesla, Zuckerberg, Citadel's, Justin Lubell, Lubell, Steve Schwarzman, Ken Griffin, Trump, Tyler Le, Harris, Sundar Pichai, Elon Musk, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, Apple, CFTC, Trump, TikTok, Meta Connect, Meta, Bank of America, Blackstone, Republican, Amazon, AWS, Five Apple Intelligence, Google, The Washington Post, Street, Microsoft, Starbucks Locations: French, New York, London

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