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Nearly 50,000 people from 200 countries — including, for the first time, the Taliban rulers of Afghanistan — were in Azerbaijan for this year’s United Nations Climate Change Conference, with the goal of reaching a critical deal on climate finance. Participating world leaders Tuesday at the United Nations Climate Change Conference. “It is really disappointing to see that world leaders haven’t shown up in force in solidarity,” she added. While Trump “may put climate action on the back burner,” U.S. climate envoy John Podesta said, “the work to contain climate change is going to continue.”U.S. Energy Secretary Jennifer Granholm said states, cities, nongovernmental organizations and companies are still “all-in” on pursuing climate goals. British Prime Minister Keir Starmer speaks Tuesday on day two of the COP29 climate conference.
Persons: Donald Trump, Alexander Nemenov, General Ban, , Ruth Townend, COP29, Joe Biden, Xi Jinping, Keir Starmer, Emmanuel Macron, Olaf Scholz, Justin Trudeau, Shigeru Ishiba, ” Townend, haven’t, Matiul Haq Khalis, Laurent Thomet, Trump, John Podesta, Jennifer Granholm, ” Granholm, Darren Woods, Who, Ilham Aliyev, Carl Court, Getty Images Aliyev, Adel, Lord Adair Turner, Britain, , James Marape, Marape, Asadullah Jawid Organizations: Change, United Nations, Getty, World Meteorological Organization, House, Pacific, British, Seven, Canadian, Japanese, Environmental Protection Agency, Getty Images, U.S . Energy, Infrastructure Law, NBC, Exxon, Independent, Climate Finance, U.S, Energy, Commission, Union, Baku, American University of Locations: BAKU, Azerbaijan, Afghanistan, United States, Paris, AFP, London, Baku, U.S, , Saudi, Adel Al, Saudi Arabia, Saharan Africa, China, Papua New Guinea, American University of Afghanistan
Currently, individuals and married couples can gift or bequeath $13.61 million and $27.22 million, respectively, before a 40% federal estate tax kicks in. AdvertisementThe heirs don't own the trust assets but rather have lifetime rights to the trust's income and real estate. Any payout is also protected from estate taxes, even if the insured's estate and death benefit exceed the exemption. AdvertisementThis tactic can also be used to save on estate taxes by ultra-rich entrepreneurs who have already used their exemption but have less-wealthy parents who haven't. When the children inherit the assets, the federal estate tax doesn't kick in as long as the grandparents' estate does not exceed $27.22 million.
Persons: Trump, Robert Strauss, Weinstock Manion, Uncle Sam, Wrigley, Jeff Bezos, Jackie O, Edward Renn, Tyler Le, remarries, Jenny Chang, Rodriguez, Sam Walton, haven't Organizations: Republican, Getty, IRS, Federal Reserve, Walmart Locations: Cayman Islands, Bermuda, Washington, Florida, Wyoming, Plenty
Bernie Moreno, Republican U.S. Senate candidate from Ohio, attends a campaign event in Holland, Ohio, on Saturday, October 26, 2024. In total, crypto-related PACs and other groups tied to the industry reeled in over $245 million, according to Federal Election Commission data. Crypto accounted for nearly half of all corporate dollars that flowed into the election, according to nonprofit watchdog Public Citizen. It was one of the top spending committees of any industry this cycle and exclusively gave to pro-crypto candidates running for Congress. "Welcome to America's most pro-crypto Congress ever," Armstrong wrote on X on Nov. 5.
Persons: Bernie Moreno, Moreno, Sen, Sherrod Brown, Tom Williams, Donald Trump, Coinbase, Crypto, Marc Andreessen, Ben Horowitz, David Sacks, " Moreno, Brian Armstrong, Fred Ehrsam, Faryar Shirzad, Armstrong, Ehrsam, Coinbase's Armstrong, Gary Gensler, Brown, Elizabeth Warren, FTX, Fairshake, gunning, Republican Jim Justice, Democratic Sen, Joe Manchin, Katie Porter, Porter, he'd, Horowitz, Sacks, Coinbase's Shirzad, Moreno wasn't, Shirzad, David McIntosh, McIntosh, hasn't, JD Vance's, Sam Bankman, Gensler, Andreessen Horowitz, Cameron, Tyler Winklevoss, Ripple, Chris Larsen, JD Vance, Paul Grewal, Jesse Powell, Trump, Phil Potter, Multicoin Capital's Kyle Samani, Fred Wilson, Charles Cascarilla, Mike Belshe, Solana, Anatoly Yakovenko, Wences Casares Organizations: Republican U.S, Cq, Inc, Getty, Democratic, Banking Committee, Public Citizen, Crypto, House, Securities and Exchange Commission, SEC, Senate, Committee, Republicans, Protect, Fairshake, Defend, Jobs, Republican, New, CNBC, Andreessen, Craft Ventures, Club for Growth, Growth, Politico, PAC, Labs, Senate Inc, Trump, Union Square Ventures, Xapo Bank Locations: Republican, Ohio, Holland , Ohio, Cleveland, Coinbase, U.S, Arizona, Michigan, West Virginia, California, Washington, FTX, Nashville , Tennessee
CNN —A kayaker’s leg was amputated during a dramatic, hours-long rescue operation to free him from between rocks on a river in Australia on Saturday, local police said. His 20-hour ordeal began at about 2:30pm on Friday when he became trapped while kayaking through rapids with a group on the Franklin River, police said in a statement. Rescuers made several unsuccessful attempts to extract the man between Friday evening and Saturday morning. “Every effort was made to extract the man before the difficult decision to amputate his leg.”Oosterloo also praised the emergency responders. “I’d like to thank everyone who contributed to this operation in the most difficult of circumstances,” he said.
Persons: Franklin, Gordon Wild, , Doug Oosterloo, ” Oosterloo Organizations: CNN, Hobart, Authorities, Gordon Wild Rivers, Police Locations: Australia, Tasmania’s, Franklin
The power needs of artificial intelligence and cloud computing are growing so large that individual data center campuses could soon use more electricity than some cities, and even entire U.S. states, according to companies developing the facilities. Now, with the advent of artificial intelligence, data centers are growing so large that finding enough power to drive them and enough suitable land to house them will become increasingly difficult, the developers say. Technology companies are in a "race of a lifetime to global dominance" in artificial intelligence, said Ali Fenn, president of Lancium, a company that secures land and power for data centers in Texas. Beyond VirginiaAs land and power grow more limited, data centers are expanding into new markets outside the long-established global hub in northern Virginia, Sahlstrom said. The privately-held company is working with utilities to secure up to 1.8 gigawatts of power for the site to support as many as 40 individual data centers.
Persons: Ali Fenn, Nat Sahlstrom, Sahlstrom, Phoenix — Organizations: Technology, Phoenix, CNBC, Department of Energy, Bureau Locations: U.S, Pittsburgh, Texas, Denver, Virginia, Maricopa County , Arizona, Storey County , Nevada, Reno, Buckeye , Arizona
Germany's Merkel laments influence of big business on Trump
  + stars: | 2024-11-23 | by ( ) www.cnbc.com   time to read: +1 min
Former German chancellor Angela Merkel has called the influence of tech billionaires such as Elon Musk over U.S. President-elect Donald Trump a "huge concern". In an interview with the news magazine Der Spiegel published on Friday ahead of the release of her memoir, Merkel said the job of politics was ultimately to balance the interests of ordinary and powerful citizens. "If this ultimate recourse is influenced too strongly by companies, whether through capital power or technological capabilities, then that is an unprecedented challenge for all of us," she said. She cited the example of Musk, chief executive of Tesla and SpaceX, who was tapped by Trump to co-lead a new Department of Government Efficiency that the incoming president has indicated will operate outside the confines of government. "If a person like him [Musk] owns 60% of all satellites orbiting in space, then that has to be a huge concern for us in addition to the political issues," Merkel said.
Persons: Angela Merkel, Elon Musk, Donald Trump, Der Spiegel, Merkel, Musk, Tesla, Trump Organizations: Elon, SpaceX, of Government Efficiency
This market is starting to summon the lighthearted take on a mullet haircut: business in the front, party in the back. BTC.CM= YTD mountain Bitcoin, YTD Every bullish argument for bitcoin comes down to "More people will soon have more ways to buy more of it." I've tracked the interplay between bitcoin and Nvidia shares for a while. The market's immediate response was simply to allow Nvidia to hold onto the $2.3 trillion in market value it's added this year, but not to pile on more. Meaning the current pace of new money entering these funds is not as heavy relative to total market value as it was nearly four years ago.
Persons: Trump, bitcoin, I've, John Roque, Warren Pies Organizations: Nasdaq, Nvidia, Nvidia ramped, Vanda Research, Trump, 22V Research, Bloomberg, Federal Reserve, 3Fourteen Research Locations: lockstep, bitcoin
I found that I was clashing with the culture of Silicon Valley. I attributed that attitude to the Silicon Valley atmosphere. In Silicon Valley, you have a lot of Google people, a lot of Meta people, and, at the time I was there, a lot of Tesla people. An aerial view of Silicon Valley. The sustainability hub is in Silicon Valley, and moving to the other side of the country felt like I was separating myself from that.
Persons: Adam Fletcher, Fletcher, NerdWallet, unravels ChatGPT, I've, They're, we're, It's, There's, Philadelphia Jon Lovette, Philly Organizations: San, Philadelphia, Stanford, Applied Materials, East, Carbon, Carbon Reform, Eagles, Phillies, University of Pennsylvania, Drexel University Locations: San Francisco, East, San Francisco , California, Philadelphia , Pennsylvania, Philly, Philadelphia, Bay, Santa Clara, California, Silicon Valley, Silicon, East Coast, Rittenhouse, New York, DC
The U.S. electric grid needs a total body makeover. With Duke Austin, a fourth-generation lineman, at its helm, Quanta Services has a long history in electric power infrastructure. The backbone of the electric grid Transmission and distribution is the backbone of the electrical grid, delivering power from generation sites to consumers. PWR YTD mountain Quanta Services shares year to date MasTec MasTec has been in comeback mode. MYR Group Goldman expects MYR Group is well positioned for 2025.
Persons: Neil Mehta, Goldman Sachs, weren't, Goldman, Mehta, Duke Austin, Carly Davenport, Davenport, Austin, Goldman's Mehta, they're, MasTec, Jose Mas, MasTec's, Truist, Jamie Cook, McCoy, Cook, Ati Modak, Modak, MYR Organizations: U.S, Edison Electric Institute, MYR, CNBC, Management, MYR Group Locations: U.S, Austin
Goldman Sachs highlighted a slate of stocks that are worth snapping up as December approaches. CNBC combed through Goldman research to find buy-rated names the firm says are must owns heading into the end of the year. Pinterest Pinterest is also firing on all cylinders, analyst Eric Sheridan wrote recently. In addition, the firm sees revenue upside with user engagement remaining strong. ... .Based on after-hours pricing, we find PINS stock as one of the most compelling risk/reward skews in our coverage universe."
Persons: Goldman Sachs, Goldman, Noah Poponak, Poponak, Bonnie Herzog, Herzog, Pinterest Pinterest, Eric Sheridan, Pinterest, Sheridan Organizations: GE Aerospace, Monster Beverage, CNBC, GE Aerospace GE Aerospace, Aerospace, Management
Henry Schein is a leading global distributor of health-care products and services primarily to office-based dental and medical practitioners. Health care distribution covers Henry Schein's distribution of dental and medical products, such as laboratory products, pharmaceuticals, vaccines, surgical products, dental specialty products and diagnostic tests. While Henry Schein has successfully carved into the office-based physician niche as the No. Henry Schein is a great company that has gotten sleepy and been allowed to coast when it could have been soaring. Several directors have been in their seats at Henry Schein for over a decade and the board lacks best-in-class distribution expertise.
Persons: Henry Schein, Charlie Penner, Alex Silver, Schein's, Henry Schein's, Patterson, Benco, Schein, Stanley Bergman, Ananym, Ken Squire Organizations: Ananym Capital Management, Jana Partners, P2 Capital Partners, Cardinal Health, 13D Locations: New York, EBITDA ., EBITDA
CNN —At least 11 people have been killed and several others injured after an Israeli strike flattened a multi-story residential building in central Beirut overnight, Lebanese officials said. At least 23 other people were injured in the strike, according to a toll provided by Lebanon’s Civil Defense. Saturday’s attack marks the latest in a string of Israeli strikes on central Beirut in recent weeks, following the killing of a Hezbollah spokesperson in an airstrike last Sunday. Most Israeli airstrikes have targeted the Lebanese militant group’s stronghold in Beirut’s southern suburbs since hostilities ramped up early last month. On Friday, the director general of Dar Al Amal University Hospital near Baalbek in eastern Lebanon was killed along with six of his colleagues in an alleged Israeli strike, according to Lebanon’s Health Ministry.
Persons: Dar Organizations: CNN, National News Agency, Lebanon’s Civil Defense, Israel Defense Forces, Dar Al Amal University, Health Ministry Locations: Beirut, Lebanon, Beirut’s, Baalbek
President-elect Donald Trump on Friday asked Scott Bessent, a top fundraiser to his campaign, to serve as secretary of the Treasury Department, two sources familiar with the matter confirmed to NBC News. And with Trump proposing aggressive tariffs on imports from countries spanning the globe, the new Treasury Department chief will have to manage relationships with global finance ministers who may choose to retaliate with tariffs of their own. With inflation moderating over the past year, the Powell-led Fed has cut interest rates as part of a bid to stop high borrowing costs from unduly raising unemployment. In Trump’s first term, he tapped banker Steven Mnuchin to lead the Treasury Department. But his tenure at the Treasury Department was more stable than those of other high-level Cabinet posts in Trump’s first term.
Persons: Donald Trump, Scott Bessent, Bessent, Trump, Jerome Powell, , ” Powell, Powell, Steven Mnuchin, Mnuchin, Trump’s Organizations: Treasury Department, NBC News, Senate, White, Republican, Congress, Federal Reserve, Bloomberg News, Fed, CNBC Locations: Hollywood
Police in Las Vegas arrested 57 striking casino workers on Thursday at a protest outside Virgin Hotels Las Vegas, the Culinary Union said on X. Hundreds of casino workers at Virgin Hotels Las Vegas walked off their jobs last week over stalled talks to win a new five-year union pay contract. “Culinary Union members on strike outside @VirginHotelsLV while Culinary Union members are getting arrested in non-violent civil disobedience,” the union said in one of the posts. Separately, Las Vegas police said that the road next to the casino, which was earlier closed due to protests, had reopened after the arrests. Virgin Hotels Las Vegas is owned by JC Hospitality, along with Juniper Capital Partners, Virgin Group and others, according to the hotel’s website.
Persons: Diana Valles Organizations: Las Vegas, Virgin Hotels, Culinary Union, Vegas, “ Culinary Union, JC Hospitality, Juniper Capital Partners, Virgin Group Locations: Las, Virgin Hotels Las Vegas
AdvertisementAs someone born and raised in Salt Lake City, I know Utah has more to offer than just skiing. Within Salt Lake City, I recommend enjoying a beer at a local brewery. For a unique experience, I also suggest checking out the nearby hot springs and Ice Castles. And at the heart of it all is the state's capital, Salt Lake City. Born and raised in the heart of the city, I know how to experience Salt Lake without ever stepping into ski boots.
Locations: Salt Lake City, Utah, Salt
Ukraine’s Parliament canceled a session on Friday over a warning that Russia could target the building in an attack with a missile that Ukraine’s air defenses cannot shoot down, lawmakers said. Although they did not say which type of missile they were worried about, the decision to cancel the session came a day after Russia fired what it described as a new, intermediate-range missile. Ukraine has no radars capable of detecting those missiles in flight through the upper atmosphere, nor air defense systems capable of shooting them down, Ukrainian experts have said. But on Friday, Parliament decided not to take the risk. “They canceled it late last night, citing the danger of a missile strike,” Oleksiy Honcharenko, an opposition member of Parliament, said of the planned session.
Persons: , ” Oleksiy Locations: Russia, Ukraine
Russia has supplied North Korea with antiaircraft missiles in return for the deployment of its troops ​to fight in Russia’s war against Ukraine, South Korea’s national security adviser said on Friday.​In recent weeks, North Korea has sent an estimated 1​1,000 troops, some of whom have joined Russian forces in their fight to retake territories occupied by Ukraine in Russia’s Kursk region, according to South Korean and United States officials. It has also sent close to 20,000 shipping containers of weapons to Russia since the summer of 2023, including artillery guns and shells, short-range ballistic missiles and multiple-rocket launchers, South Korean officials have said. In return, North Korea has been widely expected to seek Russian help in modernizing its conventional armed forces and advancing its nuclear​ weapons program and missiles. One of the ​biggest weaknesses of the North Korean military ​has been its poor​, outdated air defense system, while the United States and its allies in South Korea and Japan run fleets of high-tech war planes, ​including F-35 stealth fighter jets. “We understand that Russia has provided related equipment and anti-air missiles to shore up the poor air defense for Pyongyang,” the North Korean capital, ​South Korea’s national security adviser​, Shin Won-shik, ​said in an interview with SBS-TV on Friday.
Persons: , Shin Won Organizations: Russian, South, United, North Korean, SBS Locations: Russia, North Korea, Ukraine, South, Russia’s Kursk, South Korean, United States, South Korea, Japan, Pyongyang,
President-elect Donald J. Trump picked Scott Bessent to serve as Treasury secretary on Friday, tapping a billionaire hedge fund manager to lead an economic agenda that is expected to be built around raising tariffs and cutting taxes. Mr. Bessent, the founder of the investment firm Key Square Capital Management, has emerged as a central economic adviser to Mr. Trump over the past year. Unlike many on Wall Street, Mr. Bessent, 62, has also defended the use of tariffs, which are Mr. Trump’s favorite economic tool. If confirmed by the Senate, Mr. Bessent would take over a department with vast responsibilities that is at the core of the federal government. The Treasury Department issues debt to fund the government’s operations and pay its bills, including paying Social Security and veterans benefits.
Persons: Donald J, Trump, Scott Bessent, Bessent, George Soros Organizations: Key, Capital Management, Democratic, Senate, Treasury, Social Security
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Newmarket Capital CEO Andrew HohnsAndrew Hohns, Newmarket Capital Founder and CEO, joins CNBC's 'Squawk Box' to discuss Bitcoin approaching $100k, how merging bitcoin and credit can reduce volatility, and more.
Persons: Andrew Hohns Andrew Hohns Organizations: Newmarket Capital
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin has a bunch of catalysts ahead, says EMJ Capital's Eric JacksonEric Jackson, EMJ Capital, joins 'Closing Bell' to discuss Bitcoin's recent performance, the actual use of a strategic reserve for Bitcoin, and much more.
Persons: EMJ Capital's Eric Jackson Eric Jackson Organizations: EMJ
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are long and short opportunities in tech-focused funds, says Citi's Mithra WarrierMithra Warrier, Citi North America head of capital introduction, joins 'Closing Bell' to discuss the health of hedge funds, shorted market sectors, and much more.
Persons: Warrier Organizations: Citi North America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina markets are in a goldilocks period, use the 'GARY' strategy: Macquarie CapitalEugene Hsiao of Macquarie Capital says that there is no urgency for Chinese policymakers to add any additional stimulus and discusses why he thinks investors should be adopting a "growth at a reasonable yield" strategy in China.
Persons: GARY, Macquarie Capital Eugene Hsiao Organizations: China, Macquarie Capital Locations: China
FanDuel parent Flutter Entertainment is poised for even more gains ahead as its U.S. growth takes off, according to Goldman Sachs. Analyst Ben Andrews initiated coverage of the online sports betting operator with a buy rating and $320 price target. Andrews sees upside to Flutter's 2027 revenue guidance for existing states and sees double-digit percentage upside to Wall Street's consensus targets on Flutter's U.S. EBITDA in 2027 and 2028. S & P) and Flutter building a track record of consistent delivery and as a compounding cash generator." The company continues to acquire new customers in existing states, which "Flutter is doing more efficiently than competition, supported by their scale," Andrews said.
Persons: Goldman Sachs, Ben Andrews, Andrews Organizations: New York Stock Exchange, London Stock Exchange, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto Boom Drives Investment Opportunities, With Coinbase and Robinhood Leading the ChargeDevin Ryan of Citizens JMP and Sarah Kunst of Cleo Capital discuss the surge in crypto interest, with Ryan noting growth in volumes and opportunities in payments and stablecoins, while Kunst highlights increasing institutional interest and potential acquisitions in the crypto space. Both see strong growth ahead for companies like Coinbase and Robinhood.
Persons: Devin Ryan, JMP, Sarah Kunst, Cleo Capital, Ryan Organizations: Cleo, Kunst
Swedish battery maker Northvolt filed for Chapter 11 bankruptcy protection in the U.S., delivering a hard blow to Europe's electrification ambitions. A partner of major European automakers, Northvolt produces lithium-ion batteries for the blooming electric vehicle industry, which has recently been rocked by intensifying competition. "This decisive step will allow Northvolt to continue its mission to establish a homegrown, European industrial base for battery production," said Tom Johnstone, interim chairman of Northvolt's board. "Despite near-term challenges, this action to strengthen our capital structure will allow us to capture the continued market demand for vehicle electrification," he added. The Stockholm-based business has long been regarded as Europe's best hope of building a homegrown EV battery champion.
Persons: Northvolt, Tom Johnstone Organizations: EV Locations: Skelleftea, Sweden, Swedish, U.S, Stockholm
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