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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil and gas are 'part of the solution,' not the problem, former BP chief saysOil and gas are "part of the solution," not the problem, BeyondNetZero Chairman John Browne, who once led BP, tells CNBC's Steve Sedgwick at COP28 in Dubai.
Persons: John Browne, Steve Sedgwick Organizations: Email, BP Locations: COP28, Dubai
Kristalina Georgieva, managing director of the International Monetary Fund, speaks during the Singapore FinTech Festival in Singapore, on Wednesday, Nov. 15, 2023. Dubai, UNITED ARAB EMIRATES — The head of the International Monetary Fund on Sunday underlined the case for carbon pricing at the COP28 climate summit, saying that the oil and gas industry recognizes "the writing on the wall." A long-time proponent of carbon pricing, IMF Managing Director Kristalina Georgieva said this approach creates an incentive for polluters to rapidly decarbonize. Carbon pricing ascertains the cost that a company needs to pay for its planet-warming emissions and is widely regarded as the most cost-effective and flexible way to cut such pollution. "For those that have adopted a carbon price, how do we get big emitters to accept that we need to accelerate decarbonization?"
Persons: Kristalina Georgieva, Georgieva, CNBC's Dan Murphy, Nature Organizations: International Monetary Fund, Singapore FinTech Festival, UNITED, EMIRATES, IMF Locations: Singapore, Dubai
Within two months of ChatGPT's launch, the groundbreaking chatbot amassed 100 million users, wowing investors, consumers and Wall Street with its ability to compose human-like text and hold a conversation. A year later, Wall Street hasn't stopped obsessing over it. Megacap technology stocks also prospered amid the newfound investor focus on AI. MSFT 1Y mountain Microsoft shares over the last year Rounding out the megacap list, both Meta Platforms and Amazon have rallied more than 177% and 51%, respectively. Salesforce shares surged more than 9% during Thursday's session on the back of a stronger-than-expected quarterly print .
Persons: , hasn't, Alphabet, Mark Zuckerberg, Andy Jassy, Salesforce, Brent Thill, CNBC's, Snowflake's, ChatGPT, Brad Gerstner Organizations: Federal, Nvidia, Devices, Marvell Technology, Microsoft, OpenAI, Meta, Amazon, CNBC, Semiconductor, Oracle, Jefferies, Technologies Locations: Salesforce
Copper mines like Rio Tinto's Bingham Canyon mine on the outskirts of Salt Lake City are on the frontline of America's transition to clean energy. Jointly based in Australia and the UK, Rio Tinto is one of the world's largest mining companies with projects in 35 countries. It has 17 iron ore mines in Western Australia that produce material used in steel, as well as mines that produce aluminum, diamonds, and boron, a component used in smartphones. So what is Rio Tinto doing to ramp up production of its critical minerals business? CNBC got a behind the scenes look at Rio Tinto's Utah operation to find out.
Persons: Tyler Broda Organizations: P, RBC Capital Markets, Rio Tinto, CNBC Locations: Rio, Bingham, Salt Lake City, Australia, Western Australia, Rio Tinto's Utah
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'This is real money being put to real work,' World Bank president says"This is real money being put to real work," World Bank President Ajay Banga tells CNBC's Dan Murphy, after the organization said it would put 45% of its annual financing to climate by 2025.
Persons: Ajay Banga, Dan Murphy Organizations: World Bank
In the small town of Hinsdale, New Hampshire, people knew Geoffrey Holt as the unassuming caretaker of the mobile home park where he lived. What they didn't know was that he was a multimillionaire — and he donated the entirety of his $3.8 million fortune to the 4,000-person community after he died at age 82 in June. "Geoff was a private person, preferring to be in the crowd rather than in the front of it," Smith tells CNBC Make It. Holt had previously confided to Smith about his wealth, but Smith didn't know of Holt's plans until he became caretaker. He didn't own a car and lived frugally in a mobile home on the 25-acre land Smith owned.
Persons: Geoffrey Holt, Holt, Edwin, Smokey, Smith, Geoff, Mr, Holt's Organizations: CNBC, New, New Hampshire Charitable Foundation, Navy Locations: Hinsdale , New Hampshire, Brattleboro, New Hampshire, Hinsdale
After a year of steady, resilient growth, the US economy will finally slip into a recession in 2024. Deutsche Bank is also calling for double-digit profit growth in a weaker economic backdrop. "For 2024, the house economics view with a mild short US recession implies $250 (+10%)," Chadha wrote in reference to S&P 500 earnings. Deutsche Bank also foresees earnings growth next year. "We remain overweight the financials as well as consumer cyclicals as they are already priced for a recession and the biggest beneficiary of an eventual recovery," Chadha wrote.
Persons: That's, , Chris Grisanti, Brian Belski, Chadha, Belski, Financials, BMO's Organizations: Wall, Business, BMO Capital Markets, Deutsche Bank, MAI Capital Management, CNBC, BMO, Deutsche, Labor, Investors, Tech Locations: Chadha
Before she was directing Disney's 100-year anniversary tribute, Fawn Veerasunthorn had been rejected by the studio several times over. While Veerasunthorn was in college, Disney closed the Florida animation studio where her mentor had worked. In 2011, about a decade after she started chasing Disney in earnest, she finally landed a job with the iconic film studio. Veerasunthorn began working on "Wish" in 2020 and co-directed the feature alongside Chris Buck, who's been with the company since 1978. She always considered drawing her hobby and studied computer science in high school before planning to go the medical route professionally.
Persons: Fawn Veerasunthorn, Veerasunthorn, Paitoon Ratanasirintrawoot, Ratanasirintrawoot, Dr, Seuss, Raya, Chris Buck, who's, Arthur C, Brooks Organizations: The New York Times, Columbus College of Art & Design, Times, Disney, Pixar, Universal, Universal Studios, CNBC, Summit, Hollywood Locations: Thailand, Bangkok, U.S, Ohio, Florida, California
As Charlie Munger's admirers around the globe mourn the loss of one of the most influential investors ever, a deep sense of gratitude and appreciation has spread — for his unparalleled business acumen as well as his uniquely sharp tongue. Munger, Berkshire Hathaway's vice chairman who died Tuesday one month shy of his 100th birthday, left a mark on generations of investors in a host of ways thanks to a long and fruitful life. First and foremost, Munger's investment philosophy rubbed off on none other than Warren Buffett, giving rise to the sprawling conglomerate worth almost $800 billion that Berkshire is today. Munger long emphasized the importance of recognizing a good business before it's widely seen as such, and he did so many times in his storied career. Munger was also a loyal supporter of Costco Wholesale Corp ., calling it one of the best investments of his life.
Persons: Charlie Munger's, Warren Buffett, Munger, Buffett, Bill Stone, Matt McLennan, Charlie, McLennan Organizations: Munger , Berkshire Hathaway's, Glenview Trust, First Eagle Investments, CNBC, Berkshire, Costco Wholesale Corp, Price Club Locations: Munger , Berkshire, Berkshire, Glenview
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCOP28: UAE minister of climate change and environment speaks to CNBCMariam Almheiri, minister of climate change and environment of the UAE, speaks to CNBC at COP28 in Dubai.
Persons: CNBC Mariam Almheiri Organizations: COP28, CNBC Locations: UAE, Dubai
In 2019, Jesse Wig, Adam Colucci and Dan Spanovich bought an abandoned high school in Homestead, Pennslyvania. Wig, Colucci, and Spanovich went into the project with a budget of $3.2 million and, in the end, spent about $4.5 million renovating the Schwab School. The partners ended up spending about $4.5 million to renovate the Schwab School. Because Bowtie High and the Schwab School are across the street, the two are sister buildings. For now Wig, Colucci, and Spanovich don't have plans to take on another project together.
Persons: Jesse Wig, Adam Colucci, Dan Spanovich, Schwab, Charles M, Spanovich Organizations: Schwab, CNBC, Schwab Vocational School, Pittsburgh Post, Gazette, Scwab, Malhari Media Locations: Homestead, Pennslyvania, American, Pennsylvania
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle plans to operate its data centers on carbon-free energy by 2030Google plans to operate its data centres around the world on carbon-free energy by 2030, the company's Chief Sustainability Officer Kate Brandt tells CNBC's Dan Murphy.
Persons: Kate Brandt, CNBC's Dan Murphy
Historically, November is the best month of the year for the stock market, and December is third, according to the Stock Trader's Almanac. Under the surface this week, we also saw signs of a possible market rotation in the works. Rotation watch : We must look to next week's trading for confirmation that we're in the grips of a rotation or simply a head fake. Signs of the former were on display this week as the two of the biggest sector winners of the year, communication services and technology , trailed the market. Jobs, jobs, jobs : The most important release of the week comes Friday in the form of the November nonfarm payrolls report.
Persons: Jerome Powell, That's, Locker, it's, Hock Tan, We'll, Joann, JOAN, JM Smucker, OLLI, Campbell Soup, Brown, Forman, LULU, Smith, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Wall, Dow, Nasdaq, Federal, Broadcom, Marvell Technology, Cisco Systems, VMWare, Club, PMI, Labor, Signet Jewelers, SIG, Brands, Toll, Thor Industries, Natural Foods, GameStop, Vail Resorts, MTN, Smith & Wesson, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Asana, ASAN, New York City
An obesity beneficiary and a snack foods company are just a few of the top stocks to buy in December, analysts said this week. Wall Street research firms named a slew of companies that they believe have upside heading into the years end. Obin said the company has a "preponderance" of margin tailwinds for 2024, including "differentiated auto exposure, underappreciated margin expansion opportunities, and best-in-class execution." "We are including BUY-rated EL in our research team's Best-of-Breed Bison initiative, which focuses on long-term best-in-class companies with sustainable competitive moats," analyst Linda Bolton Weiser said earlier this week. Estee Lauder — DA Davidson, buy rating "We are including BUY-rated EL in our research team's Best-of-Breed Bison initiative, which focuses on long-term best-in-class companies with sustainable competitive moats.
Persons: Estee Lauder, Gracell Biotechnologies, Eli Lilly, Andrew Obin, Obin, it's, Nik Modi, Modi, MDLZ, Mondelez, LSEG, Estee Lauder DA Davidson, Linda Bolton Weiser, Bolton Weiser, Gracell, Eli Lilly — Morgan Stanley, Estee Lauder —, Davidson Organizations: CNBC, ITT, Gracell, Bank of America, RBC, ISI, pharma, ITT — Bank of America
There's also an ongoing debate about whether an agreement should center on "abated" fossil fuels, which are trapped and stocked with carbon capture and storage technologies, or "unabated" fossil fuels, which are largely understood to be produced and used without substantial reductions in the amount of emitted greenhouse gases. "We cannot save a burning planet with a firehose of fossil fuels," Guterres said. "The 1.5-degree limit is only possible if we ultimately stop burning all fossil fuels. Not everyone is on board with calls to phase out fossil fuels, however. An Exxon Mobil gas station in Washington, DC, US, on Tuesday, Nov. 28, 203.
Persons: Darren Woods, There's, Steve Sedgwick, Woods, U.N, António Guterres, Guterres, Phaseout, David Paul Morris, Exxon Mobil's Woods, Tengku Muhammad Taufik, I'm Organizations: UNITED, EMIRATES, Exxon Mobil, United Arab Emirates, United Arab, Exxon Mobil Corp, Economic Cooperation, APEC, Bloomberg, Getty Images Bloomberg, Getty, Exxon, Big Oil, Petronas, Natural Resources, Mobil Locations: Dubai, COP28, Russia, United Arab Emirates, Asia, San Francisco , California, San Francisco, China, UAE, Washington , DC
The record gold rush may intensify into year-end. According to NewEdge Wealth's Ben Emons, the final month of the year typically creates a bigger appetite for the yellow metal. We get a recession maybe, maybe not," said Emons. "At the same time, gold rallies when there's this risk-on feel in the markets, and that's really when real rates and interest rates are declining. In a note to clients this week, Emons wrote that months for both gold and stocks are a "rare combo."
Persons: NewEdge Wealth's Ben Emons, It's, CNBC's, Gold, Emons, Guy Adami Organizations: Dow
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Sustainability is not just a technical challenge but a human challenge': Majid Al Futtaim CEOAhmed Galal Ismail, CEO of Majid Al Futtaim, stresses that "sustainability is not just a technical challenge but a human challenge" in conversation with CNBC's Dan Murphy at COP28.
Persons: Majid Al Futtaim, Ahmed Galal Ismail, CNBC's Dan Murphy Locations: COP28
The Look Ahead: December 1, 2023
  + stars: | 2023-12-02 | by ( )   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNews Update - The Look AheadCNBC brings you fast, accurate, and actionable business news and market updates.
Organizations: CNBC
Rep. Don Beyer, D-Va. Bill Clark | CQ-Roll Call, Inc. | Getty ImagesWASHINGTON — Don Beyer isn't the average student at George Mason University. So he enrolled, starting with the prerequisite classes that will ultimately lead him to a master's degree in machine learning. Beyer is part of almost every group of House lawmakers working on AI. He was also a member of former Speaker Kevin McCarthy's working group on AI, which could be resurrected under Speaker Mike Johnson. Obernolte, who has a masters degree in artificial intelligence, said there's no shortage of smart lawmakers on AI, including Beyer.
Persons: Don Beyer, Bill Clark, Getty Images WASHINGTON — Don Beyer isn't, Beyer, Kevin McCarthy's, Mike Johnson, he's, Sam Altman, Jay Obernolte, Johnson, Obernolte, Don Organizations: CQ, Inc, Getty Images WASHINGTON, George Mason University, He's, The, The Virginia Democrat, CNBC, Congressional Artificial Intelligence Caucus, The New Democrat Coalition Locations: The Virginia
Jahmy Hindman is senior vice president & chief technology officer of Deere & Company , a position he has held since July 2020. The best example of this is our See & Spray technology. Before AI, farmers had to spray the entire field to get rid of the weeds. AI will also help us reach our goal of creating a fully autonomous production cycle for corn and soybean farmers by 2030. An example of this is the ability to retrofit See & Spray technology onto a sprayer built in 2018.
Persons: Jahmy Hindman, Hindman, John Deere, we've, we'll, we're, It's, it's Organizations: Deere & Company, Solutions, CNBC, Summit, Technology, Big Tech, Hindman : Technology, Deere Locations: Hindman
Indecent content is defined by the FCC as a portrayal of sexual or excretory organs or activities in an offensive manner without meeting the obscenity test. Profane content includes “grossly offensive” language considered a public nuisance. NBC is a broadcast network while CNBC is a cable network. “FCC rules on profanity don't apply to utterances on cable networks,” former FCC Chairman Ajit Pai said in a reply to an ABC7 Chicago reporter requesting clarification under the circulating post on X. Cable networks are not prohibited from airing indecent or profane content.
Persons: Elon, “ Elon, , Ajit Pai, Read Organizations: Federal Communications Commission, New York Times, CNBC, Facebook, FCC, Globe, NBC, NBC Universal, Comcast, Reuters, ABC7, Cable, Thomson Locations: ABC7 Chicago
Media stocks jumped on Friday following a Wall Street Journal report that Apple and Paramount Global are in early-stage talks to offer a bundle of the two company's streaming platforms. The companies have talked about bundling Apple TV+ and Paramount+ in an offering that would cost less than subscribing to the two separately, The Wall Street Journal reported Friday. Paramount+ and Apple TV+ could be an ideal match for a bundle given their differing content strategies. Apple TV+ is known to offer a robust library of exclusive and prestige content, while Paramount+ boasts a larger back-catalog of recognizable TV shows and movies. An Apple partnership could be a strong opportunity to help Paramount pivot in the rapidly changing media environment.
Persons: Max, John Malone, Shari Redstone Organizations: Journal, Apple, Paramount Global, Paramount, Street, Warner Bros, Netflix, Verizon, Liberty Media, Discovery, Disney, ESPN, Charter, CNBC
CNBC Markets Now: December 1, 2023
  + stars: | 2023-12-01 | by ( )   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Markets Now: December 1, 2023CNBC Markets Now provides a look at the day's market moves with commentary and analysis from Michael Santoli, CNBC Senior Markets Commentator.
Persons: Michael Santoli Organizations: CNBC
Watch CNBC's full interview with Warren Pies and David Zervos
  + stars: | 2023-12-01 | by ( )   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Warren Pies and David ZervosDavid Zervos, Jefferies chief market strategist and Warren Pies, 3Fourteen Research co-founder, join 'Closing Bell Overtime' to talk the day's market action.
Persons: Warren Pies, David Zervos David Zervos, Warren Organizations: Jefferies, 3Fourteen Research
Why investors should stick with Eli Lilly
  + stars: | 2023-12-01 | by ( Jeff Marks | )   time to read: +2 min
Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. The treatment — which Jim Cramer has said could become the greatest-selling drug of all time — received approval from the U.S. Food and Drug Administration last month, bolstering Eli Lilly shares. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Bond, Jerome Powell, Goldman Sachs, STZ, Eli Lilly, , Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Treasury, Federal, Club, Constellation Brands, Pfizer, U.S . Food, Drug Administration Locations: U.S
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