DIRS.INFO The most relevant business & tech news

☆ How Trump could exploit a looming global struggle for rare-earth minerals
▼ + stars: | 2024-11-12 | by ( Tom Porter | ) www.businessinsider.com time to read: +7 min

The power grab over rare-earth minerals in Central Asia could be among the issues he will seek to exploit. AdvertisementA power struggle over rare-earth mineralsAt stake for the US in Central Asia is not just political power but access to the region's reserves of rare-earth minerals such as uranium, lithium, and tantalum. Rare-earth minerals are needed to make all sorts of products, from F-35 stealth fighters and smartphones to internet fiber-optic cables and MRI machines. It produces around 60% of the world's rare-earth minerals and processes nearly 90%, according to the Center for Strategic and International Studies. "There are rare-earth minerals worth exploring/exploiting, and if the US/EU could strike a major deal with [Kazakhstan's capital] Astana, this would certainly contribute to breaking China's monopoly," said Wolff.

Persons: Donald Trump, —, Vladimir Putin, Xi Jinping, Xi, Putin, he'd, Wilder Alejandro Sánchez, ALEXANDER RYUMIN, Emmanuel Macron, Olaf Scholz, John Herbst, Stefan Wolff, Wolff, Herbst, Trump Organizations: Service, Putin, The Republican, Biden, Getty Images, Center for Strategic, International Studies, University of Birmingham, BI, Trump, EU, Astana, Central Asia Summit, Getty Images Central, Central, China Locations: Russia, China, Central Asia, Mongolia, Saudi, Getty Images China, Kazakhstan, Uzbekistan, Xian, Shaanxi, FLORENCE, Ukraine, Soviet Union, Washington, Moscow, Beijing

Transactional, personality-based and erratic, the Trump doctrine made for a chaotic four years that left both foreign leaders and seasoned American national security aides exhausted and jittery. World leaders are open to all options, including making trips to New York or Trump’s Mar-a-Lago estate in Florida, sources said. Foreign leaders are relying on their experience with Trump during his first presidency, when flattery and personal attention paid dividends, as they approach him following his win. And that, in the end, could sum up Trump’s foreign policy doctrine in a sentence. The first clues about Trump’s policy will be the appointments he makes to senior national security positions.”CNN’s Alayna Treene contributed reporting.

Persons: Donald Trump, Trump, Trump’s, he’s, Joe Biden, ”, Benjamin Netanyahu, Emmanuel Macron, Macron, “, Prince Mohammed bin Salman, Jamal Khashoggi, Mark Rutte, he’d, Shinzo Abe, Angela Merkel, Vladimir Putin —, —, Dmitry Peskov, “ Let’s, Kim Jong Un, Xi Jinping, Xi, Putin, It’s, Mike Pompeo, Keith Kellogg, Mike Pence, Richard Grenell, Brian Hook, John Herbst, United States — Putin, ” Herbst, Alayna Treene Organizations: CNN, Trump, American, NATO, Israeli, Saudi, CIA, Biden, State Department, Republican Party, Council’s Eurasia Center Locations: Paris, Jerusalem, Riyadh, Washington, Florida, —, Ukraine, North Korea, Iran, China, masse, Russia, New York, Lago, Trump, Taiwan, Beijing, Trump’s, Germany, “, United States, Europe

☆ This tactic to avoid income taxes without moving to Florida could surge thanks to a 'silver tsunami'
▼ + stars: | 2024-11-02 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +8 min

Dan Griffith of Huntington Bank expects ING trusts will surge in popularity with dealmaking on the rebound coinciding with a "silver tsunami." However, Wyoming and South Dakota are also options as they do not tax trust income or capital gains and protect trust assets from creditors. "This can apply even if they don't live in a state with a state income tax." Since beneficiaries do have to pay state income taxes — if applicable — when they receive distributions. ING trusts cannot be used to defer income taxes on salaries or income from tangible assets in the state.

Persons: —, Dan Griffith, dealmaking, You've, Griffith, Bank of America's Timothy Herbst, It's, it's, Bob Lord, They're, Steve Oshins, Herbst, Oshins Organizations: Service, Huntington Bank, ING, Bank of America's, Patriotic Millionaires Locations: Florida, Texas, Nevada, York, California, North Carolina, Delaware, , Wyoming, South Dakota, Oregon, Ohio

☆ Facing difficult frontline reality and the prospect of Trump in the White House, Zelensky hints at negotiations with Russia
▼ + stars: | 2024-07-20 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +12 min

Zelensky suggested Moscow should send a delegation to the next peace summit that he hopes to hold in November. Kyiv is currently facing the double whammy of a difficult frontline situation and political uncertainty over the level of future support from Ukraine’s closest allies. Trump and Zelensky spoke on Friday in what Trump called a “had a very good phone call”. Putin said Russia would end its war in Ukraine if Kyiv surrendered the entirety of four regions claimed by Moscow: Donetsk, Luhansk, Kherson and Zaporizhzhia. Despite being considerably bigger and stronger than Ukraine, Russia has not managed to fulfil its territorial goals – even when Kyiv was receiving only limited help from the West.

Persons: Volodymyr Zelensky, Zelensky, –, Germany –, Ukraine John Herbst, Donald Trump, JD Vance, Herbst, Trump, ”, Vladimir Putin, Putin, Orysia Lutsevych, Russia … Putin, Lutsevych, Riley Bailey, Bailey, “, ” Bailey, hasn’t, Vance, Libkos, Ukraine wasn’t, doesn’t, ” Herbst, Ukraine doesn’t, you’re Organizations: CNN, NATO, Monday, Aspen Security, –, Chatham House, Kyiv, Trump, Democrats, ” Locations: Russia, Moscow, Switzerland, Ukraine, Kyiv, Ukraine’s, United States, Germany, Donetsk, Luhansk, Kherson, Zaporizhzhia, Eurasia, Chatham, Kharkiv, Europe, Afghanistan, Crimea, Kerch, Russian

☆ ‘My Property, My Trees’: New Tree-Cutting Law Divides N.Y. Town
▼ + stars: | 2024-07-18 | by ( Hilary Howard | ) www.nytimes.com time to read: 1 min

When Robert Herbst returned to his hometown about 30 miles north of New York City in 1992, he wanted his children to be immersed in the lush greenery of his childhood. But over the decades, he noticed more trees coming down to make way for bigger houses. Mr. Herbst, a lawyer, and other like-minded residents of Mamaroneck, N.Y., view the vanishing trees as a serious threat in the era of climate change. “We should be protecting trees for our own survival,” said Jacob Levitt, a dermatologist who lives in Mamaroneck. “It’s suicidal not to do it.”But some residents say they should have the right to remove any and all trees on their properties to make way for more sunlight or a home expansion, or simply because they want them gone.

Persons: Robert Herbst, . Herbst, ”, Jacob Levitt, “ Locations: New York City, Mamaroneck

☆ Ackman says his firm will put $500 million into Pershing Square USA
▼ + stars: | 2024-07-10 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 18, 2017. REUTERS/Richard Brian/File Photo Purchase Licensing Rights New Tab , opens new tabNEW YORK, July 10 (Reuters) - Bill Ackman's firm Pershing Square Capital Management will put $500 million into its new U.S.-listed investment holding company, the hedge fund manager said in a presentation on Wednesday. The $500 million anchor investment will be held for at least 10 years, he said. Since its launch two decades ago, Ackman's hedge fund returned 16.5% a year. Had it existed in its current form, Pershing Square USA would have returned 19.4% during that time, he said.

Persons: Bill Ackman, Richard Brian, Bill Ackman's, Ackman, Svea Herbst, Bayliss, David Gregorio Our Organizations: Pershing Square Capital Management, REUTERS, Pershing, Capital Management, USA, New York Stock Exchange, Svea, Thomson Locations: Las Vegas , Nevada, U.S

☆ BlackRock directors keep seats at six funds in proxy battle with Saba
▼ + stars: | 2024-06-25 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

"Based on the preliminary results from last week's shareholder meetings, it is clear that shareholders have rejected both Saba's nominees and its efforts to displace BlackRock as investment advisor to the Funds," BlackRock said in a statement. Saba, run by prominent investor Boaz Weinstein, and BlackRock, the world's biggest asset management company with more than $10 trillion in assets under management, have been locked in battle for months over the future of 10 BlackRock closed end funds. Saba wants investors to elect its nominees to the BlackRock funds' boards and fire BlackRock as manager at some of them. Some $1.4 billion in value could be unlocked at the funds by cutting the funds' discount to their net asset value, he has said. The 10 BlackRock funds jointly oversee roughly $10 billion in assets.

Persons: Brendan McDermid, BlackRock, Boaz Weinstein, Saba, Weinstein, Svea Herbst, Bayliss, Josie Kao Organizations: REUTERS, BlackRock, Saba Capital Management, Services, BIGZ, ISS, Svea, Thomson Locations: BlackRock, New York City, U.S, Saba

☆ Live Updates: U.S. to Sign 10-Year Pact With Ukraine as G7 Leaders Meet
▼ + stars: | 2024-06-13 | by ( David E. Sanger | Steven Erlanger | ) www.nytimes.com time to read: +8 min

Mr. Biden and Mr. Zelensky will meet on Thursday and sign a security agreement, said Jake Sullivan, Mr. Biden’s national security adviser. Mr. Biden faces the hurdle of convincing his allies, starting with Mr. Zelensky, that the United States plans to stay in the fight with Ukraine, no matter what happens in November. Mr. Biden told Mr. Zelensky last week, in France, that “I apologize for the weeks of not knowing what was going to pass,” and put the onus on Republicans in Congress. During a trip to Normandy last week, Mr. Biden appeared to have persuaded France, one of the last holdouts, to support the deal. “The administration has been quick to get aid to Ukraine once Congress moved, and that’s to its credit,” he said.

Persons: Biden, Volodymyr Zelensky, Mr, Zelensky, Jake Sullivan, “, ” Mr, Sullivan, we’ll, ”, Vladimir Putin, Pope Francis, Donald J, Trump, Rishi Sunak, Emmanuel Macron, Biden’s, Vladimir V, Putin, Claudia Greco, John E . Herbst, Evelyn Farkas, Barack Obama, Ms, Farkas, ” Alan Rappeport Organizations: Ukraine, U.S, Kremlin, Group, Air Force, “, hobble, NATO, Mr, Reuters, European, World Bank, Eurasia Center, Atlantic Council, United, McCain Institute, Arizona State University Locations: Ukraine, United States, Italy, Israel, Russia, hobble Russia, Europe, France, Congress, Savelletri, Normandy, Belgium’s, U.S, Eurasia

☆ How one nonprofit is turning to AI to help boost women's financial literacy
▼ + stars: | 2024-04-29 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

One women-focused nonprofit has launched a new way to help them get faster answers to their queries through the use of an online AI chatbot. The organization, Savvy Ladies, was founded more than 20 years ago by Stacy Francis, a certified financial planner and president and CEO of Francis Financial in New York City. After seeing her grandmother stay in an abusive situation because she lacked financial resources, Francis created the nonprofit with the goal of helping other women avoid similar situations. watch nowThe new chatbot — provided through Microsoft Copilot — allows visitors to the Savvy Ladies website to type in their financial questions and receive immediate answers curated from the website's content written by CFPs and other financial professionals. Investors are more likely to trust advice from generative AI tools than from social media, according to a survey released last year from the CFP Board, a professional organization representing professional financial planners.

Persons: Stacy Francis, Francis, CFPs, Judy Herbst, Michael Roberts, William H, Lawrence, Roberts Organizations: Francis Financial, Microsoft, CNBC's FA, Wharton School, University of Pennsylvania, CFP Locations: New York City, CNBC's

☆ NATO’s next challenge: How to reverse years of underfunding defense
▼ + stars: | 2024-04-03 | by ( Luke Mcgee | ) edition.cnn.com time to read: +8 min

For over a decade, allies have chronically underspent on defense while the West’s adversaries modernized and bolstered their own military capabilities. Defense spending stayed low across the West not just because of budget pressures, but also because everyone – including the US – was frightened to provoke Russia. However, the nature of NATO allies’ support for Ukraine – much of it direct military support – has exposed the vulnerability that years of underfunding has caused the alliance. Fabian Bimmer/Pool/ReutersThis means that the challenge in front of NATO allies now is not just how can they meet the demand for weapons coming from Ukraine, but how do they reverse years of underfunding their own defenses? Some allies don’t trust that others will be quite so generous with defense spending if the Russia-Ukraine war were to end.

Persons: Vladimir Putin’s, Putin, Volodymyr Zelensky, Murat Kula, ”, ” John Herbst, Antony Blinken, Ulf Kristersson, Andrew Caballero, Reynolds, underfunding, It’s, Herbst, NATO’s, –, Jens Stoltenberg, Olaf Scholz, Fabian Bimmer, Stoltenberg, ” Stoltenberg, Peter Ricketts, Douglas Lute, “ Organizations: CNN, NATO, Turkish, Anadolu Agency, Pentagon, “, Swedish, US State Department, Getty, Ukraine, Rheinmetall, Trump Locations: Soviet, Bosnia, Kosovo, Afghanistan, Iraq, Ukraine, United States, British, Vilnius, Russia, Kyiv, Europe, Germany, AFP, North Korea, Iran, Washington, Unterluess, Baltic, Brussels, Finland, Sweden, NATO

☆ The US mocked Russia for its motley cast of allies in Ukraine. It's not laughing any more.
▼ + stars: | 2024-03-01 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +8 min

They didn't have the defensive positions prepared," RAND defense researcher Bruce W. Bennett told Business Insider. To work with North Korea, Putin has contravened UN Security Council resolutions he himself signed onto. "If Russia failed to achieve success in Ukraine, meaning it got pushed out of Ukraine, is Putin going to survive physically?" Operating like this "really emboldens North Korea, Iran, and any other autocratic state," said Sanner. AdvertisementIn supplying weapons, Kim Jong Un's regime is unlikely to be driven by a dislike of Ukraine, Bennett said.

Persons: —, Vladimir Putin, Bruce W, Bennett, Putin, State Anthony Blinken, Mark Milley, Grant Shapps, Beth Sanner, that's, Joseph Byrne, Kim Jong Un, John Herbst, Byrne, ALEXANDER KAZAKOV, Kim, Sergei Lavrov, Kim Jong, would've, Russia's, it's, we're Organizations: Service, RAND, Business, State, Joint Chiefs of Staff, UK Defence, Trump, Biden, Atlantic, Royal United Services Institute, REUTERS, Atlantic Council, Putin, Ukraine —, US, UN, New York Times, North Locations: Ukraine, Iran, North Korea, Pyongyang, Russia, Komsomolsk, Khabarovsk Region, South Korea, Korea, Moscow, KCNA

☆ The GOP could be about to cost Ukraine the war
▼ + stars: | 2024-02-14 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +8 min

But House Republicans under Speaker Mike Johnson have no plans to take up the deal, effectively blocking the $60 billion in Ukraine aid it includes. AdvertisementThe war has reached a stalemate even with this support, and a sudden shortage as could come this year drastically weakens Ukraine’s war effort against Russia, analysts told Business Insider. Without US arms support, Ukraine will simply be outgunned and more of its troops will die, experts warn. Other aid will save Ukraine just for monthsA Ukrainian defeat would not be immediate, as Europe could step up its military aid, Herbst said. Losing Ukraine would come at a devastating cost for NATO and the USThese dynamics are perilous for Ukraine and its backers.

Persons: —, Mike Johnson, John Herbst, Herbst, Ukraine’s, Gustav Gressel, Stringer Mark Cancian, they'd, Cancian, Vladimir Putin, Johnson, Hakeem Jeffries Organizations: Service, Business, Patriot, Council’s Eurasia Center, Archer Artillery, Roman, Getty, American Enterprise Institute, Martens, European Council, Foreign Relations, REUTERS, US Marine Corps, Center for Strategic, International Studies, NATO, Russia, Democrats, House Republicans Locations: Ukraine, Israel, Taiwan, Russia, Ukrainian, Iran, North Korea, Donetsk Oblast, Europe, Zaporizhzhia region, Russian, Soviet Union, Belarus, Africa, Balkans, America

LAS VEGAS (AP) — A Nevada jury has awarded about $130 million in damages in a lawsuit filed by five people who suffered liver damage after drinking bottled water marketed by a Las Vegas-based company before the product was recalled from store shelves in 2021. Real Water attorney Joel Odou argued that the company was unintentionally negligent, not reckless, the Las Vegas Review-Journal reported. The Southern Nevada Water Authority, the region's main public supplier, monitors and tests for 166 different possible contaminants, spokesman Bronson Mack said Thursday. Mack noted that the water authority was not a defendant in the lawsuits and said the area's municipal water supply meets or surpasses all federal Safe Drinking Water Act standards. Real Water was sold for at least eight years, primarily in Central and Southern California, Las Vegas, Phoenix and Utah.

Persons: Myles Hunwardsen, Henderson, ” Will Kemp, Kemp, Affinitylifestyles.com, Brent Jones, Jones, Herbst, Joel Odou, Bronson Mack, Mack Organizations: LAS VEGAS, AffinityLifestyles.com Inc, Republican, Telephone, Foods, Costco Wholesale, Hanna Instruments, Milwaukee Instruments, Water, Las Vegas, Las, The Southern, The Southern Nevada Water Authority, U.S . Food, Drug Administration, Clark County Health District Locations: Nevada, Las Vegas, Clark County, Lake, Hoover, Colorado, The, The Southern Nevada, Central, Southern California, Phoenix and Utah, U.S

☆ Jana Partners calls for strategic review, possible sale at Frontier Communications -letter
▼ + stars: | 2023-12-04 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Small toy figures with laptops and smartphones are seen in front of displayed Frontier Communications logo, in this illustration taken December 5, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsDec 4 (Reuters) - Activist investment firm Jana Partners is urging Frontier Communications (FYBR.O) to begin a strategic review, including a possible sale of the telecommunications company, arguing that its shares will continue to lag unless corrective action is taken. In the letter, the partners said they have spoken with potential strategic and financial buyers who have "indicated interest in participating in a company-initiated review process." A Jana spokesman declined to comment and a representative for Frontier did not immediately respond to a request for comment. In the letter Jana said Frontier's lagging stock price is linked to the fact the company hasn't been able to attract new investors since exiting bankruptcy in 2021.

Persons: Dado Ruvic, Jana Partners, Jana, Barry Rosenstein, Scott Ostfeld, Goldman Sachs, hasn't, Frontier's, Svea Herbst, Bayliss, Nick Zieminski Organizations: REUTERS, Frontier Communications, Reuters, Board, Frontier, Wall, Svea, Thomson

☆ Exclusive: Activist investor Blackwells plans Wendy's board challenge -sources
▼ + stars: | 2023-12-01 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Blackwells, run by Jason Aintabi, plans to nominate several directors to Wendy's 12-member board, said the sources, who asked not to be identified discussing confidential deliberations. It made no mention of any plans to challenge the Wendy's board. Wendy's reported adjusted third-quarter earnings per share of 27 cents last month, beating analysts' average estimate of 25 cents. Yet it posted same-restaurant sales growth of 2.8% globally and 2.2% for the United States that were lower than a year ago. In third quarter of 2022, Wendy's had reported global same-restaurant sales growth of 6.9% and U.S. same-restaurant sales growth of 6.4%.

Persons: Burger, Mario Anzuoni, Wendy's, Jason Aintabi, Nelson Peltz, Peter May, Matthew Peltz, Blackwells, Trian, Bob Iger, Peltz, Matthew H, McDonald's, Aintabi, John Foley, Foley, Svea Herbst, Bayliss, Chizu Nomiyama, Kirsten Donovan Organizations: Trian Fund Management, Walt Disney Co, Disney, Restaurant, International Inc, Burger, Interactive, Svea, Thomson Locations: Monrovia , California, North America, Wendy's, Dublin , Ohio, New York, United States, Rhode Island

Nov 30 (Reuters) - Activist investor Nelson Peltz is pushing ahead with plans to seek at least three board seats at Disney (DIS.N) as the firm is not satisfied with Disney CEO Bob Iger's changes, several people familiar with the matter said. During a conversation on Thursday morning with Iger, Disney extended an offer for Trian to meet with the company's board but rejected the activist shareholder's request for seats on a board that will soon have 12 members, Trian said in a statement. He wanted the company to come up with a better succession plan, overhaul the streaming business and cut costs. Early this year, Peltz aborted a board challenge to give Iger time to "right the ship." "If they’ve made significant progress," Gadson said of Disney, proxy advisers "are more likely to allow for time to complete the transformation."

Persons: Nelson Peltz, Bob Iger's, Trian, Iger, Peltz, Disney, Morgan Stanley, James Gorman, Jeremy Darroch, Francis deSouza, Patrick Gadson, Vinson, they’ve, Gadson, Samrhitha, Dawn Chmielewski, Bayliss, Mark Porter, Lisa Shumaker Organizations: Disney, Trian, ESPN, Sky, Companies, Exxon, Svea Herbst, Thomson Locations: Bengaluru, Dawn, New York, Providence

A general view of the Phillips 66 Company's Los Angeles Refinery, which processes domestic & imported crude oil into gasoline, aviation and diesel fuels, in Carson, California, U.S., March 11, 2022. REUTERS/Bing Guan/File Photo Acquire Licensing RightsNov 29 (Reuters) - Elliott Investment Management has taken a $1 billion stake in Phillips 66 and is urging the U.S. oil refiner and pipeline operator to revamp its board to boost lagging performance. Phillips 66 has lagged its U.S. refining rivals at a time when fuel demand and margins have soared for the industry. Phillips 66 Chief Executive Mark Lashier acknowledged discussions with Elliott but did not say whether the company was open to adding two Elliott-recommended directors to its board. Phillips 66 currently has 13 board members.

Persons: Bing Guan, Phillips, Mark Lashier, Elliott, Lashier, John Pike, Mike Tomkins, Garfield Miller, Miller, Svea Herbst, Bayliss, Laura Sanicola, Gary McWilliams, Anil D'Silva, Bernadette Baum, Mark Porter Organizations: Phillips, Los, Los Angeles Refinery, Elliott Investment Management, Marathon Petroleum, Energy, Exxon Mobil, Aegis Energy Advisors, Elliott, Svea, Thomson Locations: Los Angeles, Carson , California, U.S, Houston, Providence, New York, Bengaluru

☆ Activist investor Ubben shutting down Inclusive Capital-sources
▼ + stars: | 2023-11-29 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

Jeffrey Ubben, Founder & CEO at ValueAct Capital, speaks on the Reuters Newsmaker event "The Future of Shareholder Activism" in Manhattan, New York, U.S., February 22, 2017. Ubben told investors in a memo he was winding down some funds and returning capital, two people familiar with the matter said on Wednesday. Ubben and Inclusive Capital, known as InCap, did not respond to calls and emails for comment. Last year more hedge funds closed their doors than launched, data from Hedge Fund Research show. More than two decades ago, Ubben, 61, who started his career at mutual fund giant Fidelity, founded ValueAct Capital in San Francisco.

Persons: Jeffrey Ubben, Andrew Kelly, Jeff Ubben, Ubben, InCap, Martha Stewart, John Paulson, Louis Bacon, Svea Herbst, Bayliss, Sabrina Valle, Josie Kao Organizations: ValueAct, Reuters, REUTERS, Capital Partners, Inclusive, Hedge Fund Research, Fidelity, Microsoft, Street Journal, Exxon, Rad Laboratories, Unifi Inc, Bayer, Svea, Thomson Locations: Manhattan , New York, U.S, San Francisco, Houston

☆ Charlie Munger, who was Warren Buffett's right-hand man at Berkshire, dies at 99
▼ + stars: | 2023-11-28 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

[1/3] Berkshire Hathaway Inc Vice Chairman Charles Munger speaks at the Daily Journal annual meeting in Los Angeles, U.S., February 15, 2017. The death of Munger, a Berkshire vice chairman since 1978, marks an end of an era in corporate America and investing. "It's a shock," said Thomas Russo, a partner at Gardner Russo & Quinn in Lancaster, Pennsylvania, and longtime Berkshire shareholder. PHILOSOPHICALLY ALIKESince becoming a Berkshire vice chairman, Munger worked closely with Buffett on allocating Berkshire's capital and not mincing words when he thought his business partner was making a mistake. Money manager Whitney Tilson, who knew Munger personally, said a "generation of investment managers" learned some of their craft from Munger and Buffett.

Persons: Charles Munger, Lucy Nicholson, Warren Buffett's, Charlie Munger, Munger, Berkshire Hathaway, Buffett, Thomas Russo, Gardner Russo, Quinn, Rick Meckler, Charlie, Warren, Paul Lountzis, Whitney Tilson, Tilson, Greg Abel, Ajit Jain, Abel, Buffett's, Howard, CHARLIE, Jain, Lountzis, Russo, Jonathan Stempel, Lewis Krauskopf Svea, Bayliss, Chibuike, Megan Davies, Rosalba O'Brien, Lisa Shumaker Organizations: Berkshire Hathaway, Daily, REUTERS, Cherry Lane Investments, Lountzis, Management, BNSF, Apple, Thomson Locations: Los Angeles , U.S, Berkshire, California, America, Omaha , Nebraska, Lancaster , Pennsylvania, Munger, New Jersey, Wyomissing , Pennsylvania, Omaha, Warren, New York

Nov 27 (Reuters) - Activist investor Elliott Investment Management on Monday said it was ready to nominate directors at Crown Castle International and push for the ouster of the wireless tower owner's executives and board members, whom it blames for years of underperformance. The hedge fund in a letter released on Monday said the company needs "comprehensive leadership change." It said it was ready to appeal to other shareholders to make changes to the 12-member board, signaling a possible proxy fight next year. Elliott sharply criticized management and the board saying a "lack of oversight ... contributed to its irresponsible stewardship and flawed financial policy." The hedge fund said the company "disregarded our data-driven analysis" and added that "our recommended changes were neither made nor taken seriously."

Persons: Elliott, Jesse Cohn, Jason Genrich, Jay Brown, Svea Herbst, Bayliss, Pooja Desai, Mark Porter Organizations: Investment Management, Crown Castle International, SBA Communications, Intelligence, Svea, Thomson Locations: Houston, Providence, Bengaluru

Ten-year Treasury yields hit a 16-year high of 5.021% in late October, but have fallen back to 4.414%. Some big investors and advisers believe, however, that reasons to cheer are short-lived and growing concerns over the economy will start weighting on asset prices early next year. His focus now is more on earnings, credit markets and broader economic data for signs of a potential slowdown. The U.S. presidential race next year is also a concern because it could be a source of more market instability. For a new boost in market performance, tech stocks will depend more on showing how AI can lift results, investors said.

Persons: We've, Ryan Israel, Bill Ackman's, Mohamed El, Peter van Dooijeweert, Max Gokhman, Franklin Templeton, Bill Gross, van Dooijeweert, Carolina Mandl, David Randall, Svea, Bayliss, Megan Davies, Leslie Adler Organizations: Nasdaq, Bill Ackman's Pershing, Capital Management, Allianz, Group's Solutions, U.S, Reuters, Microsoft, Wall, Svea Herbst, Thomson Locations: extrapolating, U.S, China

Citi announced plans to cut management layers from 13 to eight as part of its biggest overhaul in decades. Citigroup declined to comment on all the personnel moves, and none of the leaders named responded to requests for comment. The full reorganization could involve thousands of layoffs, according to a source familiar with the situation who was not authorized to speak publicly. Preparations for Monday's announcements were communicated verbally in meetings last week, according to another source familiar with the situation. Final announcements related to the overhaul will be made early next year, Fraser said in a memo to employees.

Persons: Jane Fraser, Eduardo Martinez Campos, Andy Sieg, Andrew Kelly, Valentin Valderrabano, Patricia Dorosz, Nacho Gutiérrez, Carmen Haddad, Fahad Aldeweesh, Haddad, Jose Miguel Salvador Nasur, Peter Babej, Ernesto Torres Cantú, Brad Wayman, Chris McCullough, Wayman, Patrick Gallagher, Lucy Baldwin, Sandeep Arora, Fraser, Mark Mason, Tatiana Bautzer, Lananh Nguyen, Andres Gonzalez, Saeed Azhar, Bayliss, Echo Wang, Isla Binnie, Nick Zieminski, Stephen Coates, Marguerita Choy Organizations: Citigroup, Citi, Citi Wealth Services, Citibank, New York Stock Exchange, REUTERS, Svea Herbst, Thomson Locations: Manhattan , New York City, U.S, Europe, Saudi Arabia, Chile, New York, London, Svea

☆ Labor group seeks three board seats at Starbucks - sources
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

Members of the Starbucks Workers Union and other labor organization picket and hold a rally outside a company owned Starbucks store, during the coffee chain's Red Cup Day event in New York City, U.S., November 16, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsCompanies Starbucks Corp FollowNov 21 (Reuters) - The Strategic Organizing Center, a coalition of North American labor unions, is seeking three board seats at Starbucks (SBUX.O), people familiar with the matter told Reuters on Tuesday. Workers at several Starbucks stores had walked off their jobs last week in a strike organized by the Workers United union during a key promotional event demanding improved staffing and schedules. It is affiliated to Service Employees International Union, which owns a small Starbucks stake and is part of the Strategic Organizing Center, the Wall Street Journal reported. The WSJ first reported about the Strategic Organizing Center's push for board seats.

Persons: Brendan McDermid, Ananya Mariam Rajesh, Bayliss, Arun Koyyur Organizations: Starbucks Workers Union, REUTERS, Companies Starbucks Corp, Organizing, North, Reuters, Tuesday . Workers, Workers United, Service Employees International Union, Strategic Organizing, Wall Street Journal, Starbucks, ., U.S . Bureau of Labor Statistics, WSJ, Svea Herbst, Thomson Locations: New York City, U.S, North American, Bengaluru, Svea, New York

REUTERS/Andrew Kelly Acquire Licensing RightsNEW YORK, Nov 20 (Reuters) - Citigroup (C.N) employees expect the bank to announce layoffs and senior management changes on Monday as part of its biggest reorganization in decades, according to five sources with knowledge of the matter. The job cuts could affect thousands of staff, according to a source familiar with the situation who was not authorized to speak publicly. Executives are also likely to announce senior management changes by email, the source said. Last month, Citi announced plans to cut management layers from 13 to eight as part of its biggest overhaul in decades. Support staff in compliance and risk management, and technology staff working on overlapping functions are at risk of being laid off, Reuters reported in September.

Persons: Andrew Kelly, Saeed Azhar, Isla Binnie, Tatiana Bautzer, Svea Herbst, Bayliss, Echo Wang, Lananh Nguyen, Lisa Shumaker Organizations: Citibank, New York Stock Exchange, REUTERS, Citigroup, Citi, Reuters, Svea, Thomson Locations: Manhattan , New York City, U.S, New York

☆ Read the pitch deck that helped AI adtech company Qortex raise $6 million, led by Nvidia and Samsung alumni
▼ + stars: | 2023-11-20 | by ( Ryan Joe | ) www.businessinsider.com time to read: +3 min

Qortex, which uses AI to target ads in streaming TV, online video, and video games, said Monday it had raised a $6 million Series A round, led by GFT Ventures. Because Qortex's technology analyzes what's happening in the video frame-by-frame, it understands what's happening at a very granular level, said Rosenberg. For instance, Rosenberg said Qortex could help publishers identify strobing lights in video to remain ADA compliant, or quickly scan video archives to find specific content. While GFT has invested in about 10 companies so far Herbst said, Qortex is "one of the first and honestly one of my favorites." Check out select slides from the pitch deck that helped Qortex raise its $6 million Series A round.

Persons: Zack Rosenberg, Qortex, Rosenberg, Jeff Herbst, Herbst, Mark Pedowitz, Sid Mookerji, GFT Organizations: GFT Ventures, Silicon Road Ventures, Business, GFT, Nvidia, CW Network, Silicon, Ventures, NHL, Allstate

Search resuls for: "Herbst"

25 mentions found