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☆ Move over dealmakers: Portfolio-company operators are the rising stars of private equity
▼ + stars: | 2024-08-14 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +11 min

Read previewDealmakers have always been the stars of private equity. AdvertisementKevin Desai, partner and private equity sector leader at PwC PWCBut in the current climate, portfolio-operations professionals are gaining esteem. AdvertisementPrivate equity 3.0Rising interest rates nearly two and a half years ago ushered in a new economic reality that hit private equity firms right in the pocket. Since private equity relies on debt to boost returns, the first option is off the table. These people are taking their talents to private equity firms to manage smaller companies using an already proven playbook for technological transformation.

Persons: —, you've, Marc Rowan, Rowan, Kevin Desai, Desai, I've, What's, they're, quants, we've Organizations: Service, Business, PricewaterhouseCoopers, University of Chicago, Walmart, Nike, Harvard Business Locations: dealmaking

☆ Boeing’s new CEO is already making an overdue change his first day on the job
▼ + stars: | 2024-08-08 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Today is Kelly Ortberg’s first day as CEO of Boeing. The new CEO said in a memo to staff Thursday that he decided to work 2,300 miles from the company’s current corporate offices in Arlington, Virginia, to help restore trust in the company’s commercial aircraft business. A Boeing 737 MAX aircraft is shown on the assembly line at the Boeing facility in Renton, Washington. The company said it had no comment whether it is considering moving its entire headquarters back to Seattle along with Ortberg. Boeing executives admitted there they still don’t know how the plane in the door plug blowout left Boeing’s Renton, Washington factory without the four bolts needed to keep the door plug in place.

Persons: Kelly Ortberg’s, He’s, –, Ortberg, ” Ortberg, “, he’d, Jennifer Buchanan, Richard Aboulafia, ”, he’s, Max, Jennifer Homendy Organizations: New, New York CNN, Boeing, Puget Sound, Seattle Times, AP, Max, Alaska Airlines, ” Boeing, Federal Aviation Administration, National Transportation Safety Board, Alaska Locations: New York, Seattle, Chicago, Arlington , Virginia, Renton , Washington, Boeing’s Renton , Washington

Three years ago, JPMorgan Chase became the first bank with a branch in all 48 contiguous states. "We're still at very low single-digit branch share, and we know that in order for us to really optimize our investment in these communities, we need to be at a higher branch share," Roberts said in an interview with CNBC. Wells Fargo and Bank of America closed the highest net number of branches, while JPMorgan was the most active net opener. According to FDIC research collated by KBW, growth in bank branches peaked right before the financial crisis, in 2007. When it comes to prioritizing locations for new branches, Roberts said it's a "balance of art and science."

Persons: JPMorgan Chase, Jamie Dimon, Dimon's, Dimon, Jennifer Roberts, We're, Roberts, Wells, KBW, it's Organizations: JPMorgan, Chase Consumer Banking, CNBC, Midwest, P Global Market Intelligence, Bank of America Locations: Iowa, Minnesota , Nebraska , Missouri , Kansas, Arkansas, U.S, Wells Fargo

☆ Can Boeing get back to its glory days?
▼ + stars: | 2024-07-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +17 min

Then on Jan. 5, about six minutes and 16,000 feet into a packed flight out of Portland, Oregon, a door plug blew out of a nearly new Boeing 737 Max 9. The Federal Aviation Administration barred Boeing from increasing output of its Max planes and stepped up hands-on inspections at production plants. The 737 was dubbed "Baby Boeing" and went on to become the company's bestseller, helping to make Boeing the largest U.S. exporter. Pilots in those Boeing planes fought against a flight-control system, the Maneuvering Characteristics Augmentation System, that pushed the nose of the planes downward repeatedly. Boeing has said it aims to increase rates to about 50 Max planes a month in the next few years.

Persons: Joshua Roberts, Max, AeroSystems, Sen, Richard Blumenthal, Conn, Dave Calhoun, Boeing hasn't, Brian West, Aengus Kelly, Bob Jordan, I'm, Antonoaldo Neves, Calhoun, Steve Mollenkopf, Pat Shanahan, Donald Trump, Barack Obama, AerCap's Kelly, Mulugeta Ayene, we've, NASA —, Scott Kirby, McDonnell Douglas, Rob Spingarn, Kirby, Spirit Aerosystems, William Campbell, it's, It's, Howard McKenzie, Kevin Lamarque, Goldman Sachs, Noah Poponak, Alex Krutz Organizations: American Airlines Boeing, Reagan National, FAA, Reuters Boeing, Wall, Boeing, Justice Department, Alaska Airlines, National Transportation Safety Board, NTSB, Via Reuters Industry, Farnborough, Federal Aviation Administration, Airbus, JPMorgan, Etihad Airways, General Electric, Blackstone, Qualcomm, Lion, Ethiopian Airlines, Pilots, Justice, Reuters, NASA, Lion Air, CNBC, Research, Max, Spirit, Corbis, Jefferies, DOJ, Senate Homeland Security, Governmental Affairs, Capitol, Patriot Industrial Partners Locations: Los Angeles, United States, Washington , U.S, Portland , Oregon, Alaska, U.S, Maldives, Wall, United Kingdom, Boeing's, Emirates, Southwest, United, Indonesia, Addis Ababa, Bishoftu, Debre Zeit, Ethiopia, BOZEMAN , MT, Wichita , Kansas, Bozeman, Bozeman , Montana, Seattle, Chicago, Arlington , Virginia, Wichita, South Carolina, Washington

☆ These 10 U.S. states have America’s best economies in 2024
▼ + stars: | 2024-07-18 | by ( Scott Cohn | ) www.cnbc.com time to read: +13 min

We consider economic growth and job growth. We measure the breadth of each state's economy by looking at how many major corporations are headquartered there. Delaware's economy turned in a lackluster performance in 2023 — the only state economy to shrink last year. Mario Tama | Getty ImagesThe Grand Canyon State's surging chip sector is delivering many dividends, including strong job growth and a healthy housing market. But he noted that construction employment grew at a healthy pace last year, evidence that the state economy still has steam left.

Persons: Dupont De Nemours, Ethan Miller, Kevin C, George Frey, Mark Knold, Knold, Zions, Mario Tama, Katie Hobbs, Allison Joyce, they've, Andrew Berger, Gross, Berger, Nina Dietzel, Lawrence Kessler, Kessler, Brandon Bell, Joe Raedle Organizations: Companies, Business, Delaware, Istock, Getty, Fortune, Census, Commerce Department, Aaa, Direct Investment, Corporate, Gem State, Micron Technology, Lamb Weston Holdings, Silver State, Pew, Major Corporations, Vegas Sands, MGM Resorts, Benz, Cox, Mercedes, Nestlé, Purina, Adidas, Georgia Department of Economic, U.S . Commerce Department, Assurant, Intercontinental, Contractors, Bloomberg, Utah's Department of Workforce Services, Arizona Workers, Gov, Democrat, Major, Technology, North, Health, Employers, North Carolina Department of Commerce, Corporate Headquarters, Bank of America, Duke Energy, Tennessee, University of Tennessee, The Volunteer State, FedEx, Texas Employees, Lone Star State, Entrepreneurship, Oracle, Tesla, Amerant Locations: States, Wilmington, New Castle County , Delaware, Delaware, Incyte, Idaho, Boise , Idaho, USA, Nevada, Las Vegas, Las Vegas , Nevada, Southern California, Vegas, Georgia, Atlanta , Georgia, Peach, Utah, Provo , Utah, U.S, Beehive, Buckeye , Arizona, Arizona, North Carolina, Wilmington , North Carolina, Carolina, Tennessee Nashville , Tennessee, Luling , Texas, The Texas, North Dakota, California, Texas, Florida, Sunrise , Florida

☆ Inside the New Job Stress Test Used From the NFL to the C-Suite
▼ + stars: | 2024-06-27 | by ( Scott Nover | ) www.businessinsider.com time to read: +14 min

In fact, I outperformed nearly all draft prospects in certain categories of this test, floundering on only one. Related storiesFor many years, the standard-bearer for evaluating the brains of NFL athletes was the Wonderlic, a short IQ test with a series of increasingly difficult questions. Stroud, then favored to be the first player selected in the NFL draft, over the Alabama quarterback Bryce Young. But then Stroud, the alleged dolt, went on to have one of the best rookie campaigns of any NFL quarterback, while Young struggled all year. Unfazed by the controversy over Stroud, S2 has begun selling its tests to other sectors.

Persons: Pong, Jack Marucci, Marucci, we've, Brandon Ally, Scott Wylie, Ally, Wylie, Patrick Mahomes, Lamar Jackson, John Michel, C.J ., Bryce Young, Young, Stroud, Stroud's, Aaron Rodgers, That's, Myers, Briggs, Goldman Sachs, Alberto Miranda, that's, Michel, Scott Nover Organizations: National Football League, SEC, Louisiana State University, NFL, Loyola University Maryland, Ohio State, Alabama, Athletic, Jets, Athletic Intelligence, intuit, Boeing, Meta, BI Locations: Tennessee, Nashville, C.J . Stroud, Stroud, Columbus , Ohio

☆ 911 call logs for Tesla's HQ reveal reports of 'terroristic' threats and attempted extortion
▼ + stars: | 2024-06-26 | by ( Natalie Musumeci | Grace Kay | ) www.businessinsider.com time to read: +14 min

"Wire $300,000 dollars to bitcoin account within 12 hours," the email to Kirkhorn added, according to the incident report. The case was ultimately suspended and no arrest was ever made, according to the incident report and Dark. AdvertisementSome Tesla workers told BI that tight production deadlines and the intensity of the work could sometimes create a high-pressure environment. We were just standing outside the building waiting to go back to work," one worker, who was there during the ordeal, told BI. The sheriff's office told local news at the time that the building was cleared and there was "nothing to substantiate the presence of a shooter at all."

Persons: —, Elon Musk, Musk, Tesla, Zachary Kirkhorn, Zachary Kirkhorn —, Austin Gigafactory, Kirkhorn, Travis, Kristen Dark, SUZANNE CORDEIRO, Austin, Joe Biden, Justin Mathew McCauley of, McCauley's, McCauley, Justin Sullivan, they'd, Apu Gomes, X, Mark Zuckerberg, Zuckerberg, Meta, Sheryl Sandberg, John Lennon Organizations: Service, Business, Securities, Exchange Commission, BI, YouTube, Tesla's, Tesla, Street Journal, Office, Musk, FOX, Austin, Factory, Getty, Elon, SEC, Meta, Twitter, BBC Locations: Austin, Travis, Texas, Nigeria, Justin Mathew McCauley of Minnesota, Minnesota, Fremont , California, Tesla's, Sparks , Nevada, Nevada

☆ Masimo activist Politan presents 'last chance' for shareholders to force change at med-tech company
▼ + stars: | 2024-06-26 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +7 min

Led by Quentin Koffey, Politan has nominated two further directors to the company's board, and says that without their election, management will continue to operate without oversight. "This is shareholders' last chance at meaningful change," Politan wrote in a letter to Masimo shareholders on Wednesday, laying out its case to investors ahead of the meeting. But governance improvements have fallen short of what shareholders deserve, Koffey wrote in the letter, noting that Masimo's board "does not review, approve or see a budget." Masimo took aggressive steps to fend off Politan, introducing bylaws to force the firm to reveal its shareholder list. "For more than two years, Politan has navigated unprecedented impediments thrown up by Masimo's board," the activist said.

Persons: MASI, Joe Kiani, Manjunath Kiran, Quentin Koffey, Politan, Masimo, Koffey, Michelle Brennan, Darlene Solomon, Bill Jellison, Stryker, it's, Kiani, Wilkins, Denon, Mario Tama, haven't, Russell, management's Organizations: Getty, Politan Capital Management, CNBC, Apple Watch, Sound United, Bowers, Sound, Shareholders Locations: Bangalore, Jan, Delaware, Caribbean, Irvine , California

☆ Fast-food franchise owners and squeezed customers test the limits of the value meal economy
▼ + stars: | 2024-06-02 | by ( Kevin Williams | ) www.cnbc.com time to read: +4 min

There is a reason the value meals are only returning on a limited basis, says Shubhranshu Singh, associate professor of marketing at the Johns Hopkins Carey Business School, who has studied the economics of fast-food value meals. "They want customers to get the value meal and then buy more, the idea isn't that the consumer will buy a value meal and walk away," Singh said. "If consumers do that, selling that value meal will be such a bad idea." "How can they serve $5 value meals with that minimum wage and still make a profit? But he added, "We are not upset about the value menu, but I don't speak for those that have higher cost pressures than I do."

Persons: Shubhranshu Singh, Johns, it's, Singh, Burger, Scott Rodrick, CNBC it's, Nick Snowberger, Snowberger, McDonald's franchisee's Organizations: Johns Hopkins Carey Business School, CNBC Locations: Burger, McDonald's, California, Northern California, Montana and Wyoming

☆ Walmart to reportedly lay off hundreds of corporate staff and relocate others
▼ + stars: | 2024-05-14 | by ( ) www.cnbc.com time to read: +1 min

Walmart is cutting hundreds of corporate jobs and asking most remote workers to move to offices, the Wall Street Journal reported on Monday, citing people familiar with the matter. Walmart will still let staff work remotely part time, as long as they are in offices a majority of the time, the report said. Walmart employed approximately 2.1 million associates as of Jan. 31, 2024, according to regulatory filings. In February 2023, it shut three of its U.S. technology hubs and asked hundreds of workers to relocate to keep their jobs, pushing for more employees to report to work from office. Walmart didn't immediately respond to a Reuters request for comment.

Persons: Walmart didn't Organizations: Walmart, Wall Street Locations: Dallas , Atlanta, Toronto, Bentonville, Hoboken, Southern California

☆ Walmart is axing hundreds of corporate jobs and bringing remote employees into the office
▼ + stars: | 2024-05-14 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Walmart is cutting corporate jobs and asking remote workers to relocate to central hubs: WSJThe retail giant is reducing its site presence, further to closing multiple stores this year. The move is part of a trend called "quiet firing," a method to motivate employees to quit. 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 . AdvertisementWalmart is cutting hundreds of corporate jobs, asking remote employees to move to offices, and relocating workers in smaller sites, The Wall Street Journal reported Monday.

Persons: — Organizations: Walmart, Service, Street, Business Locations: Dallas , Atlanta, Toronto, Arkansas , New Jersey, Southern California

☆ DuPont's beat-and-raise quarter is a major turning point for the chemical maker
▼ + stars: | 2024-05-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Even better, management signaled that the chemical company is moving past most of the destocking headwinds that plagued it this year. Net sales declined roughly 3% year over year to $2.9 billion, beating expectations of $2.8 billion, according to LSEG. Quarterly results Organic sales in the Electronics & Industrial business declined 2% year over year, with volume and prices both down 1%. And in Shelter Solutions, the destock looks complete after sales were flat in the first quarter and expected to rise sequentially in the second quarter. This new outlook reflects a continued electronics recovery and some easing of channel inventory destocking in industrial-based businesses.

Persons: we're, Ed Breen, Breen, Jim Cramer's, Jim Cramer, Jim, Dupont, Mark Makela Organizations: DuPont, PPG Industries, Industrial Technologies, Automotive, Electronics & Industrial, Semiconductor Technologies, DuPont's, Taiwan Semi, Samsung, Safety Solutions, Water Solutions, Solutions, CNBC, Getty Locations: bottoming, Taiwan, biopharma, Kalrez

☆ 30-year-old supercommutes over 500 miles to work in New York: ‘I'm the happiest I've ever been’
▼ + stars: | 2024-04-26 | by ( Morgan Smith | ) www.cnbc.com time to read: +5 min

Some mornings, Kaitlin Jorgenson travels 544 miles to get to a job she'll be at for 72 hours. Although Jorgenson was ready to leave New York, she didn't want to give up the career she had built there. All in all, Jorgenson estimates she would spend a minimum of $4,000 each month to live and work in Manhattan. Moving to Charlotte, Jorgenson estimates, has saved her at least $2,000 each month — commuting expenses and all. During the weeks she's not in New York, Jorgenson works part-time at Superbloom Hair Studio in Charlotte, a job with flexible hours that change depending on Jorgenson's appointment schedule.

Persons: Kaitlin Jorgenson, she's, she'll, Jorgenson, Scott J, — Organizations: Charlotte Douglas International, CNBC, Companies, National Bureau of Economic Research, Corporate Locations: New York City, Charlotte , North Carolina, Brooklyn, Charlotte, New York, —, New Jersey, Manhattan, New, LaGuardia, Houston, Chicago, Queens

☆ Tesla cutting around 2,700 jobs in Austin as part of broad restructuring
▼ + stars: | 2024-04-23 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Tesla is eliminating around 12% of its workforce at a factory in Austin, Texas, as part of a broader restructuring the company announced last week. In 2021, Tesla CEO Elon Musk moved the company's corporate headquarters to Austin from Palo Alto, California. Tesla officially opened its Texas EV and battery factory in April 2022, with a "cyber rodeo" party. Musk later called the Austin factory, and another assembly plant in Germany, "gigantic money furnaces," in an interview with Tesla Owners Silicon Valley, a fan club that promotes Tesla vehicles. Executives are expected to discuss the restructuring on the company's quarterly earnings call at 5:30 p.m.

Persons: Tesla, Elon Musk, Musk Organizations: Tesla, Texas EV, Austin, Texas Department Locations: Austin , Texas, Travis County, Austin, Palo Alto , California, New York, Buffalo, Texas, Germany

☆ How climate change is beginning to be built into employee pay and benefits
▼ + stars: | 2024-04-13 | by ( Trevor Laurence Jockims | ) www.cnbc.com time to read: +8 min

There are some companies all-in, as a brand, in fighting climate change , such as Patagonia. So-called green perks, also referred to as climate change benefits, could help to bridge that gap. A rising, though still marginal trend in the job market, employee enticement and compensation packages tied to climate change can help to make these abstractions clearer and more actionable in the workplace. "There's a nascent but growing interest in climate change benefits," Schneider said, pointing out that Google searches for commuter benefits, as an example, are trending up. Green perks are a benefits arena where the demand would seem to outstrip supply, and green commuter benefits may be the first indication of a wider adoption wave.

Persons: enticement, WTW, Caroline Mangiardi, Mangiardi, Lauren Schneider, it's, Schneider, Mercer, Lizzy Kolar, Kolar, Kolar's Organizations: Walmart, Apple, Bank of America, Compt, CSR, employee's CSA, Fortune Locations: Bentonville , Arkansas, Patagonia, Bentonville —, Bentonville, employee's

☆ How one real-estate unicorn is getting past gutting layoffs and slowing deals
▼ + stars: | 2024-04-08 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +8 min

Rising interest rates have slammed the brakes on deals, and many real-estate companies have cut staff as revenues slowed. Founded in 2020 by real-estate executives Ryan Stroker and William Martiner, Avenue One was profitable by early 2021, company officials told Business Insider. AdvertisementAvenue One cofounder and CEO Ryan Stroker told BI in an interview how the company is navigating the difficult business environment. "I was told that I wasn't spending enough money six months before the layoffs," Stroker said. Layoffs and Big SpendingBoth Stroker and Avenue One's followup statement said the company is financially secure and described the layoffs as prudent rather than necessary.

Persons: It's, Ryan Stroker, William Martiner, Wall, Stroker, Martiner, John Burns, Ryan, Axel Springer Organizations: Service, KKR, Global, Business, MetLife, Wall, Amherst, John Burns Real Estate Consulting, BI Locations: Manhattan, Axel

☆ Canada Goose to cut 17% of its corporate workforce, following string of retail layoffs
▼ + stars: | 2024-03-26 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Canada Goose said Tuesday that it will cut about 17% of its corporate workforce, following a string of other retailers that have laid off employees this year as consumers continue to pull back on discretionary spending. The cuts will affect staff at Canada Goose's corporate headquarters, which had about 915 employees as of April 2023, according to a securities filing. Between April 2021 and April 2023, Canada Goose nearly doubled the number of employees at its corporate head offices from 544 to 915 to support its "continued growth," the filing says. When releasing its holiday-quarter results, Canada Goose noted that its wholesale revenues were particularly weak, an ongoing dynamic for the company that many other retailers have felt. The layoffs at Canada Goose come after Nike, Macy's , Wayfair , Hasbro and Etsy all announced widespread layoffs over the past few months.

Persons: Goose, Dani Reiss, Reiss, Canada Goose Organizations: Canada, Armour, Nike, Hasbro, Etsy Locations: Canada

☆ Salesforce's behind-the-scenes co-founder is tackling Slack as software company turns 25
▼ + stars: | 2024-03-09 | by ( Jordan Novet | ) www.cnbc.com time to read: +16 min

"The V2MOM had nothing about generative AI," Parker Harris, who co-founded the company with Benioff, told CNBC in an interview. Harris, a Salesforce board member and now the technology chief of Slack, which Salesforce bought in 2021, said he'd rather avoid the limelight. Without the Data Cloud, Harris told CNBC, "I think we would have been in a much worse place." He told Benioff he'd redo the plan, the person said. They'll be talking more frequently, as Harris said they're about to kick off weekly meetings on Slack and Salesforce integrations.

Persons: Parker Harris, Marlena Sloss, Marc Benioff, ChatGPT, Benioff, Salesforce, Harris, Slack, he'd, Sam Altman, Noah Berger, Robin, Batman, Frank Dominguez, Dave Moellenhoff, Bobby Yazdani, Larry Ellison, Yazdani, Dominguez, Brett Queener, who's, Queener, Salesforce.com, He's, Ruth Asawa, Josef Albers, Miles Davis, Donald Trump, Jason Alden, Marc, Kara Swisher, David Paul Morris, Adam Selipsky, it's, Stewart Butterfield, Lidiane Jones, Cal Henderson, Benioff's, Parker, Noah Weiss, Denise Dresser, Weiss, Parker Harris emoji, They'll, Salesforce integrations, Stefan Slowinski Organizations: Salesforce, Bloomberg, Getty, CNBC, Google, Microsoft, Middlebury College, Apple, San, San Francisco Bay Area, Metropolis Software, Software, Saba Software, Oracle, San Francisco's Telegraph, YouTube, Facebook, Economic, Salesforce.com Inc, Web, VMware, Employees Locations: San Francisco, Silicon Valley, English, Vermont, North Carolina, San Francisco Bay, Moellenhoff, Kincaid's, Burlingame, San Francisco's, Salesforce, France, Italy, Nantucket, San, Pacific, Davos, Switzerland, Cliff, New York, Las Vegas, Hawaii

☆ Microsoft engineer warns company's AI tool creates violent, sexual images, ignores copyrights
▼ + stars: | 2024-03-06 | by ( Hayden Field | ) www.cnbc.com time to read: +11 min

Jones was noodling with Copilot Designer, the AI image generator that Microsoft debuted in March 2023, powered by OpenAI's technology. "It was an eye-opening moment," Jones, who continues to test the image generator, told CNBC in an interview. watch nowMicrosoft's legal department told Jones to remove his post immediately, he said, and he complied. Jones said the risk "has been known by Microsoft and OpenAI prior to the public release of the AI model last October." "I am certainly convinced that this is not just a copyright character guardrail that's failing, but there's a more substantial guardrail that's failing," Jones told CNBC.

Persons: Jakub Porzycki, Shane Jones, Jones, OpenAI's DALL, Lina Khan, Khan, deepfakes, he's, Satya Nadella, Sam Altman, Justin Sullivan, Darth Vader, Elsa, Mickey Mouse, guardrail that's Organizations: Microsoft, Nurphoto, Copilot, CNBC, Commerce, Science, Transportation, Federal Trade, Google, Getty, pitchfork, Disney, Wars, Palestinian, Israel Defense Forces Locations: Krakow, Poland, Redmond , Washington, San Francisco, hoodies, Gaza

RICHMOND, Va. (AP) — A top Democratic Virginia lawmaker vowed Wednesday to keep language enabling a proposed relocation by the NBA’s Washington Wizards and NHL’s Washington Capitals to Alexandria out of the state budget lawmakers will take up later this week. Glenn Youngkin's plan to lure the teams across the Potomac River with a $2 billion development district featuring a new arena. Moving forward, if the arena is excluded from the budget, Youngkin has a few options. Virginia governors have the ability to seek amendments to legislation, so he could attempt to put the arena language back in the budget. Democrats, who control both General Assembly chambers, could lose Youngkin’s support for some of their own priorities if they kill the arena deal.

Persons: Sen, Louise Lucas, Glenn Youngkin's, Lucas, Macaulay Porter, Youngkin, Democratic Del, Luke Torian, Lucas ’, Ted Leonsis, “, doesn't, Del, Mark Sickles, Torian, we’re, Youngkin’s Organizations: Democratic, Washington Wizards, NHL’s Washington Capitals, Finance, Commonwealth, Republican Gov, Delegates, Monumental Sports & Entertainment, Monumental, Capitals, Wizards, Capital One, ”, House, Senate, Republicans Locations: RICHMOND, Va, Alexandria, Washington, Virginia, Hampton Roads

☆ Young people are flocking to Florida. It's boosting the state's economy, but living there comes with hidden costs.
▼ + stars: | 2024-02-19 | by ( Cork Gaines | ) www.businessinsider.com time to read: +7 min

Florida, which has long attracted new residents thanks to its beaches and absence of state income tax, is getting an economic boost driven by young Americans seeking new opportunities. AdvertisementYoung people are driving Florida's economic strength. Getty ImagesFlorida's economy is growing thanks to the newcomersFlorida's population surge is driving the state's robust economy and demand for housing. The Sunshine State's economy is projected by Wells Fargo to expand in 2024, propelled by a robust job market. Thanks to the more damaging weather, Floridians paid more for home insurance in 2023 and the second-most for car insurance compared with other states.

Persons: —, Wells, Sean Pavone, Wells Fargo, Taylor Tyson, Miami —, Policygenius, Hurricane Ian, Matias J, Forbes, Michael Bordenaro Organizations: Service, Smart Asset, " Employers, Wells, —, Census, SEC, Miami, Miami Herald, Tribune, Getty Locations: Florida, Florida . Florida, Tampa , Florida, Wells, — New York , California, New Jersey, California, New York, Florida — Jacksonville, Tampa, Hurricane, Miami, St, Petersburg

☆ What's driving the market rebound on Wednesday — and why we're buying the dips
▼ + stars: | 2024-02-14 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market rebound: Stocks are bouncing from Tuesday's declines, taking their cue from rallying bond prices. 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, Eli Lilly, Cramer, Kraft Heinz, Gamble, didn't, Stanley, Jim Cramer's, Jim, Dupont Organizations: CNBC, Nvidia, Meta, Constellation Brands, Procter, Energy, DuPont, Starbucks, Cisco Systems, Occidental Petroleum, Deere, Penn Entertainment, Jim Cramer's Charitable, Getty Locations: We're, North America, DuPont's, Wilmington , Delaware

ARLINGTON, Va. (AP) — Real estate data firm CoStar Group is moving its headquarters from Washington, D.C., to northern Virginia, a move that will bring roughly 650 jobs to the state. The relocation is expected to result in 500 jobs moving from D.C., plus the creation of 150 new jobs. The move comes as the Legislature is considering a $2 billion deal to relocate the NBA's Washington Wizards and NHL's Washington Capitals from their home in downtown to Washington to northern Virginia. Arlington County has successfully recruited numerous corporate headquarters in recent years, most famously landing the second Amazon headquarters in 2018. JBG Smith, the real estate company selling the office tower to CoStar, declined comment Wednesday.

Persons: Glenn Youngkin, JBG Smith Organizations: —, Washington , D.C, D.C, Washington Wizards, NHL's Washington Capitals, Virginia Gov, Arlington, Arlington County, Boeing, Nestle Locations: ARLINGTON, Va, Washington ,, Virginia, Rosslyn, Arlington County, Potomac, Washington, Richmond, Arlington, U.S

☆ Google says Singapore has 'very high' potential to be a global AI hub
▼ + stars: | 2024-02-07 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

American multinational technology company Google logo seen at Googleplex, the corporate headquarters complex of Google and its parent company Alphabet Inc.SINGAPORE — Singapore has "very high" potential as a global AI hub — thanks in part to an environment that fosters innovation, a Google Cloud executive told CNBC. "In order for AI to really deliver on its potential, you need really good public and private partnerships," Caroline Yap, managing director, global AI business and applied engineering at Google Cloud, told CNBC. Yap was speaking on the sidelines of Explore AI summit in January, a meeting hosted by Google Cloud and the Singapore government to recognize the top generative AI solutions from organizations that took part in the "AI Trailblazers" initiative. That enables to build and test their own generative AI solutions in a controlled and dedicated cloud-based environment. Through the joint partnership, 43 organizations across government and industry sectors successfully built their own generative AI solutions utilizing Google's AI stack.

Persons: Caroline Yap, Yap Organizations: Google, Alphabet Inc, SINGAPORE —, CNBC, Singapore's Ministry of Communications, Digital Industry, Smart Nation and Digital Government Office Locations: Googleplex, SINGAPORE, SINGAPORE — Singapore, Singapore, Digital Industry Singapore, Yap

☆ Costco may start requiring members to scan ID to enter US warehouses
▼ + stars: | 2024-01-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

On Sunday, shoppers spotted a digital ID scanning station at the front door of a Costco warehouse near the company's corporate headquarters in Issaquah, Washington. This story is available exclusively to Business Insider subscribers. Business Insider confirmed the location with the Reddit user who took a photo of the setup. A Costco employee scans a shopper's ID at the entrance to the company's warehouse in Issaquah, Washington. Responses will be kept confidential, and Business Insider strongly recommends using a personal email and a non-work device when reaching out.

Persons: —, Reddit, Richard Galanti, Dominick Organizations: Service, Shoppers, Business, Costco, Wall Locations: Issaquah , Washington, California, Texas, Issaquah, Reddit

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