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☆ Klarna rival Zilch posts first profit and appoints ex-Aviva CEO to board ahead of IPO
▼ + stars: | 2024-09-03 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

British financial technology firm Zilch on Tuesday reported its first-ever month of profit, marking a key milestone for the company as it looks toward an eventual initial public offering. Competitors Starling and Monzo, meanwhile, took more than three and four years to make their first profit, respectively. Others have managed to hit profitability faster. Zilch also said it topped £100 million ($130 million) in annual revenue run rate, doubling from the run rate it reported last year. Philip Belamant, Zilch's CEO and co-founder, told CNBC Tuesday that, despite the current high-interest rate environment, the firm was able to hit profitability by growing its business rather than cutting back like other fintechs have done.

Persons: Zilch, Starling, Monzo, Philip Belamant Organizations: CNBC

Slowing rate of change in earnings growth There are two important trends to follow in earnings. In the case of Nvidia, earnings are continuing to increase, but the rate of change is decelerating. This earnings report will likely be the final time in this stretch that Nvidia will see triple-digit earnings growth. But the impact has been shrinking – just as the overall Mag 7 impact has been diminishing with second quarter earnings growth broadening out. Last season (Q1), Nvidia was responsible for a little more than one-third of the S & P 500's 8% earnings growth.

Persons: ChatGPT, It's, Wall, Jensen, Josh Brown, Christopher Rolland, I've, you've, Lori Calvasina, it's, Matt Bryson, Nvdia's, Huang, Stifel, Blackwell, Mark Lipacis, NVDA, Hopper, Angelo Zino, Dan Ives, Ives, Brown Organizations: Nvidia, Jensen Huang's, Ritholtz Wealth Management, CNBC, RBC Capital Markets, Microsoft, Meta, Analysts, Nvdia's Blackwell, Blackwell Locations: Susquehanna, Wedbush

☆ Correction in the dollar-yen was overdue and may be 'healthy' for markets, former ECB chief says
▼ + stars: | 2024-08-06 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

A carry trade involves an investor borrowing a currency with low interest rates and reinvesting it in higher-yielding assets elsewhere — taking advantage of that differential to make a financial gain. Investors piled into yen carry trades in recent years, attracted by Japan's low volatility and ultra-loose monetary policy. Global stock markets meanwhile plunged as "safe haven" assets such as the Swiss franc and U.S. Treasurys were bolstered. "You can't unwind the biggest carry trade the world has ever seen without breaking a few heads," Kit Juckes, chief foreign exchange strategist at Societe Generale, said in a Monday note. Trichet told CNBC Tuesday: "The correction can be seen as a healthy correction, in some respects.

Persons: it's, Jean, Claude Trichet, CNBC's, Treasurys, Kit Juckes, Trichet Organizations: European Central Bank, ., Bank of Japan, U.S, Global, Swiss, Societe Generale, CNBC, Federal Locations: France's, U.S, Europe, United States

☆ Russia considers legalizing crypto for global payments as it faces ongoing sanctions
▼ + stars: | 2024-07-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Illustrative image of two commemorative bitcoins seen in front of the national flag of Russia displayed on a computer screen. Russia is considering legalizing the use of cryptocurrency for international payments as the country faces ongoing financial pressure from Western sanctions. The State Duma, which is the lower house of the Russian Parliament, will on Tuesday consider a law that permits making international payments via cryptocurrencies, Elvira Nabiullina, the governor of Russia's central bank, said Tuesday. Russia's central bank is also itself looking to move money across borders using crypto, with its chief saying crypto-based payments will take place before the end of 2024. In January 2022, the Russian central bank proposed banning the use of crypto for transactions, as well as the mining of digital currencies, citing threats to financial stability, citizens' wellbeing and monetary policy sovereignty.

Persons: Elvira Nabiullina, Nabiullina Organizations: Duma, State Duma, Russian Federation Council, RIA Novosti, Reuters, Russian Embassy, CNBC Tuesday Locations: Russia, Russian, Russia's, State, cryptocurrencies, London

☆ As NATO meets, leaders look to 'Trump-proof' the military alliance
▼ + stars: | 2024-07-10 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

US President Donald Trump arrives for the NATO summit at the Grove hotel in Watford, northeast of London on December 4, 2019. U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky speak during a meeting in New York on September 25, 2019. Hanno Pevkur, Estonia's defense minister, emphasized that NATO allies did not interfere in each other's domestic politics and democratic processes. So when, when the choice of American people is Donald Trump, then it's Donald Trump. Then all the countries in the world, including Estonia, including the NATO allies, have to talk with this administration who will be put in place."

Persons: Donald Trump, Christian Hartmann, Trump, Recep Tayyip Erdogan, Peter Nicholls, Jens Stoltenberg, Stoltenberg, Joe Biden's, —, Volodymyr Zelensky, Saul Loeb, Donald Trump's, Keir Starmer, Starmer, we've, that's, Radosław Sikorski, CNBC's Steve Sedgwick, Hanno Pevkur, It's, France —, Balázs Orbán, Viktor Orbán Organizations: NATO, AFP, Getty, Republican, Ukraine, Eurasia Group, Trump, Ukrainian, Independent, CNBC, Hungary's Locations: Grove, Watford, London, Washington, Ukraine, China, North Korea, Iran, Britain, New York, Europe, Russia, Estonia, United States, Germany, Canada, France, Poland

☆ Ukraine's peace summit lacks clout as Russia, China and others stay away
▼ + stars: | 2024-06-14 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +7 min

Ukraine’s President Volodymyr Zelenskyy attends a military honour ceremony on June 7, 2024 in Paris, France. Marc Piasecki | Getty Images News | Getty ImagesUkraine's leadership has been talking about this weekend's peace summit in Switzerland for months, desperately trying to drum up international enthusiasm for — and investment in — Kyiv's peace plan. watch nowRussia has repeatedly slammed the gathering, saying a peace summit without its participation is meaningless. Ukraine's President Volodymyr Zelenskyy accused Russia and China of working together to sabotage the summit and pressurizing other countries not to attend. Dubovyk dismissed the absence of countries like China and Saudi Arabia, saying their presence at previous, similar meetings had not helped to bring peace closer.

Persons: Volodymyr Zelenskyy, Marc Piasecki, wasn't, Russia —, What's, Joe Biden, Kamala Harris, Jake Sullivan, Zelenskyy, Putin, Shelby Magid, Viola Amherd, Ignazio Cassis, Volodymyr Dubovyk, Dubovyk Organizations: Getty, Peace, Kremlin, CNBC, Kyiv, House, Omaha Beach, Anadolu, Council's Eurasia, Ukraine, Swiss, Democratic, Center for Locations: Paris, France, Switzerland, Peace, Ukraine, Swiss, Bürgenstock, Russia, China, Saudi Arabia, Brazil, India, South Africa, Turkey, Europe, Asia, Africa, Latin America, cyberattacks, Central, Eastern Europe, U.S, California, Hollywood, Moscow, Normandy, Ukrainian, Bern, Russian, Kharkiv

☆ Nelson Peltz's Trian amasses stake in pest control giant Rentokil
▼ + stars: | 2024-06-11 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Nelson Peltz's Trian Partners has amassed a significant stake in Terminix parent Rentokil and is seeking to engage with leadership on "ideas and initiatives to improve shareholder value," a spokesperson told CNBC Tuesday. That would mean that its stake is valued at more than $400 million, or at least 3% of shares outstanding. A spokesperson for Rentokil, which is headquartered in London, did not immediately respond to CNBC's request for comment. The news of his stake in Rentokil, reported earlier by Bloomberg, comes shortly after Trian disposed of its remaining stake in Disney. Peltz earlier this year ran an unsuccessful campaign for board seats at the entertainment giant.

Persons: Nelson Peltz, Nelson Peltz's Trian, Trian's Peltz, Heinz, Trian Organizations: Trian Fund Management, Future Investment Initiative, Summit, Nelson Peltz's Trian Partners, CNBC, Rentokil, Proctor & Gamble, Bloomberg, Disney Locations: Miami , Florida, London, Rentokil

☆ Fed's Kashkari wants to see 'many more months' of positive inflation data before a rate cut
▼ + stars: | 2024-05-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — The Federal Reserve should wait for significant progress on inflation before cutting interest rates, Minneapolis Federal Reserve President Neel Kashkari told CNBC Tuesday. Asked what conditions were needed for the Fed to cut rates once or twice this year, Kashkari said: "Many more months of positive inflation data, I think, to give me confidence that it's appropriate to dial back." He said the central bank could potentially even hike rates if inflation fails to come down further. He noted that the central bank may consider raising its target rate in the future, but said it was not appropriate to "move the goal posts" at this stage. The Bank of England is also broadly expected to cut rates this summer.

Persons: Neel Kashkari, Kashkari Organizations: Minneapolis Federal, CNBC, Fed, European Central Bank, ECB, Bank of England Locations: U.S

☆ 'Be like Buffett' and buy the dip in Apple stock before its next iPhone announcement, analyst says
▼ + stars: | 2024-04-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Investors should imitate Warren Buffett and buy Apple while it's cheap, Bernstein's Toni Sacconaghi said. He says the stock is attractively priced, pushed down by cyclical issues in China, not due to fundamental problems. The stock will also see boosted upside from its forthcoming iPhone 16 cycle, he told CNBC. AdvertisementInvestors should grab Apple because it's looking cheap, Bernstein said on Monday, turning bullish on the stock for the first time in years. "What we found is, we're getting a price break on it," Sacconaghi told CNBC Tuesday.

Persons: Warren Buffett, Toni Sacconaghi, —, Bernstein, Buffett, we're, Sacconaghi, Apple's Organizations: Apple, CNBC, Service Locations: China, Bernstein's

☆ General Electric, once America’s iconic everything company, has completed its dismantling. Here’s what that means
▼ + stars: | 2024-04-02 | by ( Chris Isidore | Matt Egan | ) edition.cnn.com time to read: +4 min

The company was founded by Thomas Edison in 1892 and built into the world’s largest and most valuable company by the once legendary, but now oft-criticized CEO Jack Welch. General Electric home appliances are displayed for sale at an appliance store in San Jose, California, in 2019. But the despite the name, the company had already sold off its appliance business three years earlier. Its shares nearly doubled, rising 95%, in 2023, and were up another 37% this yearGE Aerospace will retain the longtime GE stock symbol, and Culp as its CEO. Some have suggested he could be the successor for Dave Calhoun, the retiring CEO of another troubled iconic US company, Boeing.

Persons: Thomas Edison, Jack Welch, Larry Culp, David Paul Morris, divestitures, Culp, Jason Redmond, Dave Calhoun Organizations: New, New York CNN, GE, Dow Jones, Walgreens Boots Alliance, General Electric, Bloomberg, Getty, NBC, Comcast, GE Capital, AAA, GE Healthcare, GE Aerospace, GE Vernova, Boeing, CNBC Locations: New York, San Jose , California, China, Everett , Washington, AFP

☆ Baltimore bridge collapse poses little threat to U.S. economic growth, experts say
▼ + stars: | 2024-03-26 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Auto companies like BMW and Volkswagen will likely be hit hardest at first, he added, given their heavy reliance on the Baltimore port. Regional economyFor the city of Baltimore, though, the economic impacts of the bridge collapse will hit harder and last longer. The Baltimore port directly employs over 15,000 workers and indirectly supports nearly 140,000 jobs via other port activities, according to Maryland Gov. Baltimore port employees could be temporarily furloughed, or see disruption in their work hours amid the shutdown. "The bridge collapse is the latest challenge for Northeast U.S. supply chains," said S&P Global Head of Supply Chain Research Chris Rogers.

Persons: Francis Scott Key, Roberto Schmidt, Baltimore's Francis Scott Key, Joseph Brusuelas, DALI, Joe Biden, Brusuelas, Mark Zandi, Wes Moore, Zandi, Research Chris Rogers, It's, we've Organizations: AFP, Getty, RSM, Auto, BMW, Volkswagen, Depot, IKEA, shipper FedEx, CNBC, Maryland Gov, Afp, Northeast, Supply, Research, Others Locations: Baltimore , Maryland, Singapore, Baltimore, of Baltimore, Port, United States, of LA, Northeast U.S, Sea, Panama

The BOJ will now look to utilize its short-term interest rate as its primary policy tool. It will employ an interest rate of 0.1% to current account balances held by financial institutions at the central bank from March 21, while encouraging the uncollateralized overnight call rate (another interest rate used as a policy lever by the bank) to remain at around 0 to 0.1% — effectively raising interest rates from -0.1% previously. It would resort to "nimble responses" in the form of increased Japan government bond purchases and fixed-rate purchases of JGBs, among other things, if there is a rapid rise in long-term interest rates. Japanese investors have looked elsewhere for better returns given years of artificially depressed interest rates in their home market. The Fed is due to announce its own interest rate decision on Wednesday.

Persons: Japan Alexander Spatari, Kazuo Ueda, Rob Carnell, BOJ, Ueda, Michael Brown, —, JGBs, Vishnu Varathan, Hayden Briscoe, Briscoe Organizations: Japan's, Japan Inc, Asia, ING, CNBC, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Mizuho Financial Group, Bank of America, Barclays, U.S . Federal, UBS Asset Management Locations: Dotonbori, Japan, Japan's, U.S, Mizuho's, Asia

☆ Bank of Japan may exit its negative rate policy next week. Here's what you need to know
▼ + stars: | 2024-03-13 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +3 min

Speculation is swirling that the Bank of Japan may move to exit the world's last negative rate policy as early as next week, when policymakers gather for their March meeting. "We continue to expect that the BOJ will terminate NIRP in April," Goldman Sachs economists led by Tomohiro Ota wrote in a Tuesday note, referring to the negative interest rate policy. "While a March rate hike cannot be ruled out, we believe that the BOJ's communications at this juncture are not clear enough to justify assuming the March hike as the base case scenario." "The Bank of Japan has no right to keep monetary policy where [they are now]. The economy is not in any shape or form to have that ultra-loose monetary policy and quantitative easing, which we have been calling a major policy error," Amir Anvarzadeh, a market strategist at Asymmetric Advisors, told CNBC Tuesday.

Persons: Goldman Sachs, Tomohiro Ota, Kazuo Ueda, Amir Anvarzadeh Organizations: Bank of Japan, Asymmetric Advisors, CNBC Locations: NIRP, Japan

☆ China's 5% GDP goal is 'attainable' but it won't be easy, says Hong Kong's financial secretary
▼ + stars: | 2024-03-05 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

China's GDP target of 5% for 2024 is possible, but it won't be easy to achieve, Hong Kong's financial secretary told CNBC Tuesday after Beijing set a growth target of "around 5%" for this year. I think this is attainable, although it's not easy," Hong Kong's Financial Secretary Paul Chan told CNBC's Emily Chan, highlighting bright spots in China's export sector and domestic consumption. So this represents also a huge market for China's export," Chan said, adding that "we expect the export situation of the mainland will improve particularly into developing Asia." Domestic consumption is also a key driver for the city's growth in the short term, said the financial secretary. Hong Kong's GDP is projected to grow 2.5% to 3.5% this year.

Persons: it's, Paul Chan, CNBC's Emily Chan, Chan, Goldman Sachs Organizations: CNBC, Kong's, ASEAN, Association of Southeast, Nations, U.S . Locations: Beijing, China, Asia, U.S, Macao, Hong Kong

☆ Here’s what bitcoin’s chart says about its next moves after it breached $50,000 this week
▼ + stars: | 2024-02-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin broke through $50,000 to start the week and although a stubbornly high inflation reading has pulled it lower since, the cryptocurrency is still in safe territory, according to chart analysts. On Monday, the cryptocurrency finished above $50,000 – at one point rising to $50,334.00, its highest level since December 2021. BTC.CM= YTD mountain Bitcoin year-to-date Other chart analysts echoed that investors need not be too concerned about a significant decline from here. "Old resistance becomes support and that $46,000 to $48,000 can then become the jumping board for a continuation of the rally." Katie Stockton of Fairlead Strategies agreed the bitcoin chart supports "a long-term bullish bias."

Persons: Bitcoin, bitcoin, Wolfe, Rob Ginsberg, Ginsberg, Julius de Kempenaer, De Kempenaer, Katie Stockton, it'll, Stockton Organizations: CNBC, Fairlead Locations: overbought

People attend the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 18, 2024. Javier MileiArgentina's President Javier Milei delivers a speech at the World Economic Forum (WEF) meeting in Davos on January 17, 2024. Sam AltmanSam Altman, CEO of OpenAI, attends the 54th annual meeting of the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. He said AGI could be developed in the "reasonably close-ish future," speaking at a private gathering at the Bloomberg House in Davos, Switzerland. AI took a huge leap forward in the last year or two years," Benioff said on a World Economic Forum panel Thursday.

Persons: Denis Balibouse, Donald Trump, Ursula von der, Ursula von der Leyen, Jamie Dimon Jamie Dimon, JPMorgan, Adam Galici, Jamie Dimon, Dimon, Larry Fink's, bitcoin, Volodymyr Zelenskyy, CNBC's Andrew Ross Sorkin, Vladimir Putin, Zelenskyy, Putin, Javier Milei, Fabrice COFFRINI, FABRICE COFFRINI, Fabrice Coffrini, Milei, Adena Friedman Adena Friedman, Adena Friedman, Friedman, Sam Altman Sam Altman, Sam Altman, Altman, Antony Blinken Antony Blinken, CNBC Putin, Antony Blinken, Blinken, Trump's, it's, Christine Lagarde, Emmanuel Macron, Macron, Dmytro Kuleba, Arnd Wiegmann, Trump, Vladimir, Ukraine's, Kuleba, Michelle Yeoh Michelle Yeoh, Mike Coppola, Michelle Yeoh, CNBC's Tania Bryer, Yeoh, Pedro Sanchez Spanish, Pedro Sanchez, Isabel Infantes, Sanchez, Li Qiang Li Qiang, Li Qiang, Li, Isaac Herzog, Kfir Bibas, Herzog, Kfir, Hossein Amir, Abdollahian, Atta Kenare, Joe, Biden, Netanyahu, Amir, Sergio Ermotti, MICHAEL BUHOLZER, Ermotti, Marc Benioff Marc Benioff, Salesforce, CNBC's Sara Eisen, Marc Benioff, Benioff, Ray Dalio Ray Dalio, Bridgewater, Ray Dalio, Dalio, Mark Carney Mark Carney, DANIEL LEAL Organizations: Economic, Reuters, European, JPMorgan Chase, CNBC, BlackRock, Getty, Afp, NASDAQ, CNBC Nasdaq, Reuters OpenAI, Bloomberg, State, European Central Bank, Central Bank, Reuters Ukraine's, United Nations Development, Spanish, Getty Images, Hamas, Palestinian, Hezbollah, Turkish, AFP, Iranian, Sergio Ermotti UBS, Getty Images UBS, Credit Suisse, Bridgewater Associates, U.S, Bank of England, UN, OLIVAS Locations: Davos, Switzerland, Ukraine, Gaza, Russia, China, Moscow, WEF, AFP, OpenAI, U.S, Russian, Iran, Europe, United States, Hollywood , California, Madrid, Spain, Beijing, Washington, Lebanese, Tehran, Israel, Hiroshima

☆ Ukraine war latest updates: Putin hails military gains in Ukraine; Blinken warns of 'real problem' if Kyiv gets no extra funding
▼ + stars: | 2024-01-17 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Polish President Andrzej Duda told CNBC Tuesday that Ukraine's refusal to cede ground to Russia in any prospective peace talks was "perfectly understandable." "To me, as the president of Poland, it's perfectly understandable. He told CNBC that "all those voices who are saying that we probably should have some kind of political process, talks or discussions, they somehow don't hear what Mr. Putin is saying," Rinkēvičs told CNBC on Tuesday. When asked to comment on Sunday's talks, the Kremlin's Press Secretary Dmitry Peskov told CNBC, "We find these negotiations strange without our participation. Read more on the story here: 'Perfectly understandable': Russia's neighbors back Ukraine's refusal to negotiate on peace talks— Holly Ellyatt

Persons: Andrzej Duda, Duda, Volodymyr Zelenskyy, Vladimir Putin, CNBC's Steve Sedgwick, Latvia's, Edgars, Putin, Rinkēvičs, Sunday's, Dmitry Peskov, — Holly Ellyatt Organizations: CNBC, Economic, Kremlin's Locations: Russia, Davos, Poland

☆ U.S. and allies must 'persuade countries, not dictate to them,' former UK PM Gordon Brown says
▼ + stars: | 2024-01-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Former U.K. Prime Minister Gordon Brown said Wednesday that the U.S. and other powerful nations must "persuade countries, not dictate to them" in an increasingly multipolar world. Much of the conversation at this week's World Economic Forum in Davos, Switzerland, has focused on a breakdown of trust between populations and world leaders, and how to restore it. Allianz CEO Oliver Bäte told CNBC Tuesday that an "increasing detachment of the political elite from the working class" was the "number one risk for our societies." It's no longer neoliberal economics, it's more mercantilist economics, states doing their own thing, and protectionist trade policies have become 'in' and we've seen a retreat from globalization," Brown told CNBC on the sidelines of WEF. Brown told CNBC Wednesday that he still believes this should be the template for establishing lasting peace in the region, but that it is "incredibly difficult because nobody is trusting each other at the moment."

Persons: Gordon Brown, Oliver Bäte, Brown, Tony Blair, you've, we've, Netanyahu, Mahmoud Abbas, Ehud Olmert, Saudi King Abdullah bin Abdulaziz Al Saud Organizations: Economic, Allianz, CNBC Locations: Davos, Switzerland, WEF, America, Africa, Ukraine, Gaza, Israeli, Saudi, Israel, Palestinian

☆ Top pharma CEO says preparedness for a new pandemic has not improved
▼ + stars: | 2024-01-17 | by ( Vicky Mckeever | ) www.cnbc.com time to read: 1 min

Vas Narasimhan, chief executive officer of Novartis AG, listens during a panel session on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 22, 2019. Vas Narasimhan, CEO of pharmaceutical firm Novartis, told CNBC Tuesday that he didn't believe there had been much improvement in preparedness for pandemics in the wake of the Covid crisis. "I'm sad to say, I don't think we've improved unfortunately," said Narasimhan, speaking at the World Economic Forum in Davos, Switzerland. He explained that there did not appear to be the continued level of investment as hoped for, during this "inter-pandemic" period. "Now that we're past the pandemic — and really because of the feats of our industry, companies coming up with incredible mRNA vaccines and diagnostic tools — we're back to almost no investment from governments," Narasimhan said.

Persons: Vas, Narasimhan Organizations: Novartis AG, Economic, Novartis, CNBC Locations: Davos, Switzerland

☆ Trump's potential return to the White House is dominating the chat at Davos
▼ + stars: | 2024-01-17 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

watch nowSome Davos participants are already preparing their business for a potential Republican leader in the White House. "Considering what happened when President Trump was in office, his main interest is trade. He added that his company is allocating more resources to their operations in the United States so they can protect themselves against any trade disputes. "We have to produce locally, especially in the United States ... We have scenarios to be able to respond to that leadership change," he added. The United States is one of the main markets for Suntory, which is looking to expand its sales beyond China.

Persons: Donald Trump, State Rex Tillerson, Nicholas Kamm, I've, Tim Adams, Trump, Ron DeSantis, Nikki Haley, Joe Biden, Takeshi Niinami, Bill Winters, Biden Organizations: State, Economic, AFP, Getty, Institute of International Finance, CNBC, Florida Gov, South Carolina Gov, Republican, Trump, Democratic, Suntory, Congress, Standard Chartered, U.S Locations: Davos, Switzerland, DAVOS, United States, Swiss, Iowa, The Iowa, China, U.S, Washington, Beijing

☆ Nikki Haley under pressure from donors to defeat Donald Trump in New Hampshire after Iowa caucus loss
▼ + stars: | 2024-01-16 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Former U.N. ambassador Nikki Haley is facing pressure from some of her top fundraisers to either seriously compete with, or outright defeat, Donald Trump in next week's New Hampshire primary, after finishing third Monday in the Iowa caucus. Levine is also the co-host of a Haley fundraising event scheduled for after the New Hampshire primary. He told CNBC he isn't worried about poor attendance, as long as she has a strong showing in the Granite State. In order to keep many of her more affluent donors engaged, Haley must get within three percentage points of Trump in New Hampshire, said a Republican fundraising advisor whose clients include Haley donors. Some Haley donors have already lost hope.

Persons: Nikki Haley, Donald Trump, Andy Sabin, Haley, Sabin, Haley doesn't, Eric Levine, Levine, Trump, he's, Joe Biden, CNBC's Alex Sherman Organizations: U.S, United, U.N, CNBC, Trump, New, Republican, caucusgoers, GOP, New Hampshire, AdImpact Locations: West Des Moines , Iowa, U.S, week's, Hampshire, Iowa, New York, New Hampshire, Granite State, South Carolina, Davos, Switzerland

☆ Biden administration expected to re-designate Houthis as a global terrorist entity
▼ + stars: | 2024-01-16 | by ( Jennifer Hansler | ) edition.cnn.com time to read: +3 min

CNN —The Biden administration is expected to re-designate the Houthis as a specially designated global terrorist (SDGT) entity amid continued attacks by the Yemen-based militia, a source familiar told CNN Tuesday. The administration removed the Houthis’ SDGT designation and de-listed it as a foreign terrorist organization (FTO) in February 2021, after it was designated by the Trump administration in its final weeks. Both the SDGT and FTO designations trigger an asset freeze, but only an FTO designation imposes immigration restrictions on members, according to the State Department. Last Thursday, the United States and the United Kingdom launched strikes against Houthi targets in Houthi-controlled areas of Yemen. “This has been an attack on international commerce, international shipping, not an attack on Israel, not an attack on the United States.

Persons: CNN —, Biden, Trump, Antony Blinken, Joe Biden, “, “ We’ve, ” Organizations: CNN, State Department, Administration, CNBC Locations: Yemen, Gaza, United States, United Kingdom, Houthi, Red, Israel

☆ Private company valuations 'going nuts again' amid AI boom, Cisco CEO says
▼ + stars: | 2024-01-16 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

The valuations of some private companies are "going nuts again," returning to highs not seen since the Covid-19 pandemic, according to Cisco's chief executive. Chuck Robbins told CNBC Tuesday that businesses focused on new technologies like artificial intelligence were garnering price tags akin to those seen during the era of low interest rates. "When you get into gen [generative] AI and some of these other things, we are seeing some of the private valuations are going nuts again," he said during a CNBC-moderated panel event at the World Economic Forum in Davos, Switzerland. Robbins said that it was "ironic" that the cycle had recurred so soon after higher interest rates had put an end to the era of easy money and seemingly corrected sometimes overinflated valuations. "It is ironic to me that we're so quickly doing this after what we experienced 48 months ago.

Persons: Chuck Robbins, Robbins Organizations: CNBC, Economic Locations: Davos, Switzerland

☆ OPEC+ oil producers head into meeting with quota unease and geopolitical risks casting a shadow
▼ + stars: | 2023-11-29 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Baselines, levels off which cuts and quotas are decided, have been a bone of contention within OPEC+, stalling talks amid UAE pushback in the summer of 2021. But accepting lower baselines would pose risks in the event of future output recoveries. The two countries' baselines for 2024 — and implicitly their production quotas — were due to be studied following assessment from three independent data providers. Two OPEC+ delegates, who could only speak anonymously because of the sensitivity of discussions, told CNBC Tuesday that a compromise had yet to be reached, as the clock ticks toward key meetings between OPEC, OPEC+ and their technical committee. The gatherings were initially scheduled as in-person meetings last weekend in Vienna, before a last-minute downgrade to virtual conferences.

Persons: Saudi Arabia —, —, Prince Abdulaziz bin Salman Organizations: of Petroleum, CNBC, UAE, Change, Saudi Energy Locations: OPEC, Saudi, Saudi Arabia, Angola, Nigeria, Vienna

NEW YORK (AP) — House Speaker Mike Johnson endorsed Donald Trump for president on Tuesday, a move that was a symbolic departure from his ousted predecessor leading the House. Johnson, an ally and defender of the former president, said in an interview on CNBC Tuesday morning, “I have endorsed him wholeheartedly." He added a bit later: “I’m all in for President Trump.”Johnson, a little-known Louisiana congressman, became speaker late last month when Kevin McCarthy was ousted by a hard-right band of their fellow Republicans. McCarthy had drawn the ire of Trump allies after he questioned in an interview this summer whether Trump was the strongest candidate among the then-crowded field of GOP rivals. The speaker’s backing of Trump charts the course for other House Republicans and leaves those GOP lawmakers who prefer an alternative candidate increasingly isolated in their party, with few options.

Persons: Mike Johnson, Donald Trump, Johnson, “, Trump, ” Johnson, Kevin McCarthy, McCarthy, Trump’s, Trump's, “ MAGA Mike Johnson, ”, Joe Biden, Joe Biden’s, Biden, Lisa Mascaro Organizations: —, CNBC, Trump, U.S, Capitol, White, GOP, New York Times, Facebook, Republican, Republicans, Republican Party, Associated Locations: Louisiana, Washington

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