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☆ False conspiracy theories about Hurricane Milton spread despite outcry from officials
▼ + stars: | 2024-10-10 | by ( Bruna Horvath | Bruna Horvath Is An Intern On Nbc News' Tech Team. | ) www.nbcnews.com time to read: +8 min

Baseless conspiracy theories about weather modification and false claims about disaster relief efforts have continued to spread on X in recent days, with misinformation about Hurricane Milton adding to a mountain of false rumors about Hurricane Helene and its aftermath. Greene has not deleted her posts referencing the conspiracy theories. In response to the challenges to Greene’s false claims, her deputy chief of staff, Nick Dyer, defended them, saying that she was actually the victim of conspiracy theories. “So when these people are espousing misinformation and conspiracy theories, then it’s like, ‘Oh, OK, well, maybe it’s true. FEMA is working to slow the spread of hurricane misinformation online.

Persons: Hurricane Helene, Marjorie Taylor Greene, ”, Greene, ‘, Joe Biden, Greene’s, “ It’s, Hugh Willoughby, “, ” Willoughby, ” Leila, Nick Dyer, Milton, Hurricane Milton, Donald Trump, Jim Jordan, Elon Musk, Angelo Fernández Hernández, Shauna Bowes, ” Bowes, ’ ” Bowes, Helene, Deanna Criswell, ” Criswell Organizations: X, NOAA, National Oceanic, Atmospheric Administration, Republican, Florida International University, Hurricane Research Division, NBC, University of Washington’s Center, Hurricane, FEMA, U.S . Ohio, Federal Emergency Management Agency, Services Program, Customs, Disaster Relief, Congress, DHS, Institute, Strategic, ISD, Homeland Security, Vanderbilt University, North Carolina Department of Public Safety Locations: Florida, Saginaw , Michigan, U.S, London, Asheville , North Carolina

☆ TD Bank pleads guilty in money laundering case, will pay $3 billion in penalties
▼ + stars: | 2024-10-10 | by ( Dan Mangan | Dan Mangan Is A Reporter Covering Politics For Cnbc.Com. | ) www.nbcnews.com time to read: +6 min

The total assets of TD Bank’s two U.S. banking subsidiaries will be barred from exceeding $434 billion under that restriction. “Today, TD Bank also became the largest bank in U.S. history to plead guilty to Bank Secrecy Act program failures, and the first US bank in history to plead guilty to conspiracy to commit money laundering,” Garland said. “TD Bank chose profits over compliance with the law — a decision that is now costing the bank billions of dollars in penalties. “In August 2021, a TD Bank store manager emailed another store manager and remarked, quote, ‘You guys really need to shut this down. “This settlement lets bad bank executives off the hook for allowing TD Bank to be used as a criminal slush fund.

Persons: ”, General Merrick Garland, ” Garland, “, Garland, David, Lol, ’ ” Garland, ‘, FinCEN, Wally Adeyemo, ” Adeymo, ” Sen, Elizabeth Warren, ” Warren, Bharat Masrani, ” Masrani Organizations: Bank, Department of Justice, TD Bank, Currency, Federal Reserve, “, Washington , D.C, DOJ, Treasury, Enforcement Network, FinCEN, Street, CNBC, of Justice, Consumer Financial, Bureau Locations: U.S, Wells Fargo, Washington ,, Newark , New Jersey, United States, Canada, “

Just over a month after the space opened to the public, it was decimated by Hurricane Helene. They developed the idea of DayTrip as a space for the queer community, featuring a bar and a coffee shop. The DayTrip before Hurricane Helene. “It looked like the building got picked up, spun around, shaken and then dropped back down.”The DayTrip after Hurricane Helene. Besides setting aside money to rebuild DayTrip, Davis said they have used funds to compensate employees, as well as donate to local volunteering efforts.

Persons: Brandon Davis, Davie, Davis, Hurricane Helene, Brandon Davis Hurricane Helene, Brandon, “, we’ve, ”, David, Meredith Sims, We're Organizations: Brandon Davis Hurricane, NBC, Asheville, NBC News, Federal Emergency Management Agency, FEMA Locations: Asheville , North Carolina, Hurricane, Florida, Appalachia, DayTrip, Buncombe County, Asheville, County

Hurricane Milton's powerful winds overnight Wednesday severely damaged the roof of the Tampa Bay Rays' home ballpark, Tropicana Field, which had been set for use by workers responding to the storm. An aerial view of Tropicana Field's shredded roof in downtown St. Petersburg, Fla., in the wake of Hurricane Milton on Oct. 10, 2024. Tampa Bay Times / ZUMA Press via ShutterstockThe stadium's playing field and stands could be seen in that overheard footage, through where panels once were. There were no injuries immediately reported from that area of downtown St. Petersburg, according to a city statement. Tampa Bay missed the playoffs for the first time since 2018.

Persons: Hurricane Milton Organizations: Tampa Bay Rays, Tropicana, Tampa Bay Times, ZUMA, Tropicana Field, Florida Division, Emergency Management, The Rays, Tampa Bay Locations: St . Petersburg, Fla, Hurricane, downtown St . Petersburg, Florida

☆ Why it’s OK to crave the taste of home when you travel
▼ + stars: | 2024-10-10 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +12 min

Enter, the American Bar. But, like the patrons of the American Bar before us, seeking out home comforts when abroad is still something we all do. The study was based on interviews with 330 people in the US, all questioned on how likely they’d be to try local foods when traveling. We learn to associate food with comfort – hence the term ‘comfort food,’” Brewer says. The American Bar at the Savoy has been a London hotspot since the late 1800s.

Persons: Richard D’Oyly Carte, Ernest Hemingway, Marilyn Monroe, “, ”, Andrea Di Chiara, couldn’t, Coke, Maggie Wong, Angel Gonzalez, ” Gonzalez, Judson Brewer, Brewer, Richard A, Brooks, ’ ” Brewer, Bridget Jones, Jungfraujoch, Kathrin Naegeli, Gonzalez, JACK HARDY, tellingly, Gerald Quadros, there’s, ” Brewer, we’re, ‘ I’d, ’ Organizations: CNN, American Bar, American, Future Market, Yorkshire teabags, California State University, Monterey Bay, Brown University, Getty, Jungfrau Railways, Noodle, Savoy, Langham Hotel, Random Locations: United States, Savoy, London, Hong Kong, Paris, Monterey, AFP, Europe, Swiss, Zurich, Denbighshire, Italy

☆ More M&A activity in Argentina and Australia’s lithium operations expected: Portfolio manager
▼ + stars: | 2024-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMore M&A activity in Argentina and Australia’s lithium operations expected: Portfolio managerRomano Sala Tenna of Katana Asset Management discusses Rio Tinto's acquisition of Arcadium Lithium and explains why he expects to see more consolidation in the lithium mining space.

Persons: Romano Sala Organizations: Katana, Rio Locations: Argentina

☆ Tesla robotaxi event comes after a decade of unfulfilled promises from Elon Musk
▼ + stars: | 2024-10-10 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

With Tesla's hotly anticipated robotaxi event hours away, investors will soon get a glance at what CEO Elon Musk has called the CyberCab. The event comes a week after Tesla reported third-quarter deliveries of 462,890, lifting the number to 1.35 million for the year so far. For all of last year, Tesla reported deliveries of 1.81 million. Gene Munster of Deepwater Asset Management told CNBC's "Fast Money" on Wednesday, that he'll be at the event and expects to test the robotaxi. Tesla was once seen as a pioneer in autonomous vehicle development, but has never managed to deliver or demonstrate robotaxi technology.

Persons: Elon Musk, The Beverly Hilton, Tesla's, Tesla, Garrett Nelson, They're, Gene Munster, CNBC's, He's, Alphabet's, Morgan Stanley Organizations: SpaceX, Tesla, The Beverly, Warner Bros, CFRA, RBC Capital, Deepwater Asset Management Locations: Beverly Hills , California, U.S, Burbank , California, CFRA, Munster

☆ Stocks making the biggest moves premarket: Delta Air Lines, CVS Health, Nike and more
▼ + stars: | 2024-10-10 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Delta Air Lines – Shares fell nearly 5% after the airliner provided disappointing fourth-quarter revenue guidance . Delta anticipates revenue will rise between 2% and 4% from a year earlier, less than the 4.1% estimate, per LSEG. CVS Health – Shares of the pharmacy chain added 1.9% on the back on an upgrade to overweight from equal weight by Barclays. Specifically, the investment firm noted that the brand's share of mentions as a favorite is about 35% more than its overall market share. PayPal – The payments company fell 1.7% after Bernstein downgraded the stock to market perform from outperform.

Persons: Serge Saxonov, there's, Piper Sandler, Tesla, Bernstein, —, Alex Harring, Jesse Pound, Sarah Min, Pia Singh, Michelle Fox Theobald Organizations: Delta Air Lines, CVS, Barclays, GXO Logistics, Bloomberg, Logistics, Nike –, RBC Capital Markets, American, Group, JPMorgan, PayPal Locations: Americas

☆ 15 stocks top funds and legendary investors are piling into, including those held most by billionaires like Warren Buffett and Ken Fisher
▼ + stars: | 2024-10-10 | by ( Laila Maidan | ) www.businessinsider.com time to read: +3 min

The S&P 500 and Vanguard's Total Stock Market Index Fund have surged over 30% in 2024. GuruFocus tracks top investors' stock picks, highlighting 15 popular stocks among gurus. The stock market has boom-and-bust cycles and periods of sector rotations. Some have taken to copying the so-called investing gurus of our world. The bucket of allocators adds up to more than 140 investors and funds, including Buffett and Fisher.

Persons: Ken Fisher, Warren Buffett, contrarian, —, it's, He's, Buffett, Fisher Organizations: Market, Service, Market Index

☆ Mom of 12-year-old CEO shares her 2 parenting non-negotiables: 'It's important for the child to be a child'
▼ + stars: | 2024-10-10 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

It's no surprise to Evana Oli that her 12-year-old daughter Zoe is a successful business owner. Beautiful Curly Me boasts brown dolls with natural hairstyles, children's books and hair care products. But after a few months and lots of pestering from Zoe, Oli took $5,000 from her savings to get a prototype of the doll designed ,secure an affordable manufacturer and launch the brand. In 2022, the Beautiful Curly Me brought in revenue in the low six-figures, according to documents reviewed by CNBC Make It. 'It's important for the child to be a child'First: Oli wants to make sure Zoe experiences a normal childhood, she says.

Persons: It's, Evana Oli, Zoe, Oli wasn't, Oli, —, Melernie Meheux Organizations: CNBC, Arizona State University Locations: Atlanta

☆ CNBC Daily Open: A dovish Fed is driving markets. Keep an eye out for roadblocks
▼ + stars: | 2024-10-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Close to record close for NvidiaNvidia shares have rallied 25% in the last month and are currently trading at $132.11. Former Tata Sons chairman passes awayRatan Tata, the former chairman of the Indian conglomerate Tata Sons, passed away on Wednesday, aged 86. As chairman, Tata was instrumental in spearheading over 60 global acquisitions, helping to grow the group's revenue past $100 billion during his tenure.

Persons: Ian Read, Frank D'Amelio, D'Amelio, Ratan Tata, Tata Organizations: CNBC, Dow Jones, Technology, Nasdaq, Nvidia Nvidia, Nvidia, Microsoft, Mizuho, Pfizer, Guggenheim Securities, Former Tata, Tata Sons, IA Locations: Asia, Pacific, Hong Kong, OpenAI

☆ Alums of $16 billion Tiger Cub Lone Pine have struggled to hack it on their own — with one notable exception
▼ + stars: | 2024-10-10 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +7 min

In the past five years, four other alums have either shuttered or stopped trading hedge fund strategies. It's the latest spinoff from long-running Tiger Cub Lone Pine Capital to shutter. Lone Pine, the $16 billion firm led by co-chief investment officers Kelly Granat and David Craver, was founded in 1997 by billionaire Steve Mandel. Inside the Lone Pine family treeGaonkar's experience is far from the norm for Lone Pine alums though. Firms like Lone Pine, Tiger Global, Coatue, Viking Global, Maverick, Light Street, and others have lasted for decades and minted billionaires along the way.

Persons: Scott Coulter's, Mala Gaonkar, —, Coulter, Cowbird, Pine, Kelly Granat, David Craver, Steve Mandel, Mandel, Julian Robertson's, Lone, Coatue, redemptions, Gaonkar, David Byrne, SurgoCap, Abobe, David Stemerman's, Scott Phillips, Matt Iorio's, Li Ran's, Brian Eizenstat's, Paul Eisenstein's, Nikhil Trikha, Arthur Wit, that's, Andreas Halvorsen's, Dan Sundheim's, Ben Jacobs, Ning Jin, Marco Tablada, Robertson, Tom Purcell Organizations: Service, Business, Lone Pine, Julian Robertson's Tiger Management, Cubs, Roberston's Tiger Management, Tiger, CNBC, Nvidia, GE, Figma, Pine, Latimer, Elm, Sky Capital, CenterBook Partners, Ampersand Capital Group, Global, Fund Research, Tiger Cub, Tiger Management, Viking Global, Viking Locations: Lone, Lone Pine, Granat, Texas, Li Ran's London, California, Viking

☆ FEMA was strapped for cash even before America's hurricane double whammy
▼ + stars: | 2024-10-10 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +8 min

FEMA for two months had to pause $9 billion meant for communities still recovering from past disasters. In this case, for nearly two months, FEMA hoarded $9 billion to make up for delayed funding from Congress. But Biden-administration officials warn of another shortfall as soon as January, especially after Hurricane Milton slammed into the Tampa area late Wednesday. "So if FEMA delays reimbursements, local governments have to bear those costs, and they may put off recovery efforts. FEMA officials have repeatedly said they have enough resources to respond to Hurricane Helene and now Hurricane Milton but declined to specify how much disaster aid remained available.

Persons: Milton, Helene, Hurricane Milton, Biden, Craig Fugate, Obama, Carlos Martín, Martín, Yucel Ors, Joe Biden, Mike Johnson, Hurricane Helene, Johnson, Ors Organizations: Hurricanes, FEMA, Service, Federal Emergency Management Agency, Hurricane, FEMA doesn't, Harvard University, National League of Cities, White, Republican, Fox Locations: Florida, Hurricane, Vermont, California, Pacific, Tampa, Washington, Louisiana, Milton, North Carolina , Georgia, South Carolina , Florida , Tennessee, Virginia, Asheville , North Carolina, Asheville

☆ Why the U.S. government is investigating Google
▼ + stars: | 2024-10-10 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +3 min

Google, the online search and digital ad goliath, is the first U.S. tech giant to land in federal court fighting antitrust concerns in decades. Google controls an estimated 88% of the market for general search online, according to the August opinion from Judge Mehta. And late in 2023, a jury delivered a guilty verdict against Google in a trial about business practices related to the Google Play app store. In September 2024, Epic filed an additional antitrust lawsuit against Google and Samsung, alleging that the company continued to use its monopoly power to unfairly harm competition. Watch the video above to see why the U.S. government is investigating Google.

Persons: Amit Mehta, Judge Mehta, Bing, Lee Hepner, Nikolas Guggenberger, Gene Munster Organizations: Google, U.S, District of Columbia, Justice Department, American Economic Liberties, Epic Games, Samsung, University of, Deepwater Asset Management, CNBC Locations: U.S

☆ JPMorgan downgrades industrial bellwether after recommending it for almost 15 years
▼ + stars: | 2024-10-10 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

After 15 years of bullishness on Honeywell , JPMorgan is finally moving to the sidelines. In a Thursday note, the Wall Street bank downgraded shares of the Charlotte-based industrial manufacturer to a neutral rating from overweight. Shares of Honeywell are up just 1% on the year but stand to gain almost 10% over the next year, based on Tusa's updated price target. HON YTD mountain HON YTD chart While Tusa said Honeywell shares are cheap, the company's planned divestitures are a short-term headwind. Still, Tusa applauded Honeywell's defensive growth profile, extended visibility from a long cycle backlog and renewed focus on growth under a new CEO.

Persons: Stephen Tusa, YTD, Tusa, divestitures Organizations: Honeywell, JPMorgan Locations: Charlotte

☆ China economy: Stock markets’ holiday optimism doesn’t spread to Chinese shoppers
▼ + stars: | 2024-10-10 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Global investors went wild during China’s just-concluded Golden Week holiday by snapping up “everything” related to the country. But that optimism didn’t extend to shoppers and travelers in the world’s second-largest economy itself. “Low tourism spending per head and subdued services prices highlighted still weak domestic demand and continued consumption downgrading,” they said. Goldman Sachs added that anecdotal evidence indicates hotel prices and airfares during the holiday were lower than year-ago levels. According to official data, cross-border travel rose by about 26% to 13 million trips, compared with last year’s holiday period.

Persons: Goldman Sachs, ”, Xi Jinping, David Tepper Organizations: Hong Kong CNN — Global, Citi, Management, CNBC, Hong, National Development, Reform Commission, Ministry of Finance Locations: China, Hong Kong, Shanghai, Shenzhen

☆ A United Boeing 787 with 176 people on board had to divert after the pilot's screens went blank over remote northern Canada
▼ + stars: | 2024-10-10 | by ( Pete Syme | Nathan Rennolds | ) www.businessinsider.com time to read: +2 min

A United Airlines flight diverted to Chicago after cockpit screens went blank. AdvertisementA United Airlines plane diverted and made an unplanned landing after cockpit screens went blank while it was flying over Canada's far north. The incident occurred on a Boeing 787 Dreamliner operating Flight 231 from Los Angeles to London on September 26. AdvertisementIn a statement shared with Business Insider, a United Airlines spokesperson confirmed that the plane diverted "to address a potential technology issue." Last week, United Airlines was cleared by the Federal Aviation Administration after a six-month safety review.

Persons: — Organizations: United Airlines, Boeing, Pilots, Service, Airlines, Business, Transportation Safety Board, Canada, Chicago O'Hare, Federal Aviation Administration Locations: Chicago, Hudson Bay, Los Angeles, London

☆ Why investors shouldn’t sweat this inflation report
▼ + stars: | 2024-10-10 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The latest inflation report came in slightly hotter than expected, knocking stock prices lower. But the odds of a quarter-point Fed rate cut in November actually rose after the report came out. "CPI Inflation data was slightly on the hotter side, with commodity prices (outside) energy rising more than expected. The good news is that shelter inflation is pulling back and that's going to pull inflation lower. Investors received fresh labor market data Thursday as well, with initial jobless claims jumping by 33,000 to 258,000.

Persons: Dow Jones, Sonu Varghese, Goldman Sachs, Whitney Watson, Ian Lyngen, Stephen Tusa Organizations: CPI, Reserve, Carson, Investors, BMO Capital Markets, JPMorgan, Honeywell

☆ Here are Thursday's biggest analyst calls: Nvidia, Microsoft, Netflix, CVS, Honeywell, Nike, AIG, Sunnova & more
▼ + stars: | 2024-10-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +14 min

Barclays upgrades CVS to overweight from equal weight Barclays said the stock is a "new margin story." JPMorgan downgrades Honeywell to neutral from overweight JPMorgan said it's downgrading the stock after 15 years with an overweight rating. UBS upgrades Tronox to buy from neutral UBS said it's bullish on the chemical manufacturer. "We upgrade shares of EVGO from Neutral to Buy, following the $1.05bn DOE loan conditional commitment announced last week. "Our bullish view of AIG reflects its outsized EPS growth, lower exposure to risks facing commercial lines carriers (casualty reserves and higher cat loads), high capital flexibility, and attractive valuation."

Persons: Morgan Stanley, Goldman Sachs, Goldman, it's bullish, Jefferies, TD Cowen downgrades, Cowen, Bernstein, Brinker, Kevin Hochman, Truist, it's, BIRK, Cantor Fitzgerald, Mara, Cantor, MARA, Wolfe, Google's, Satya Nadella, Lucas Jackson Organizations: Nvidia, Netflix, Barclays, JPMorgan, Honeywell, Microsoft, UBS, TD Cowen downgrades Pepsi, U.S, Department of Energy, DOE, RBC, PayPal, Cirrus, Bank of America, underperform Bank of America, Nike, Mara Holdings, AIG, DOJ, Google, Reuters Locations: EVGO, EAT's, LHX, New York City

☆ Wall Street analysts downgrade Honeywell. We think they're making a mistake.
▼ + stars: | 2024-10-10 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Honeywell stock received a rare downgrade from JPMorgan on Thursday. "They said they wanted to reshuffle their portfolio," Jim Cramer said Tuesday. 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: It's, Vimal Kapur, JPMorgan's, Kapur, Jim Cramer, Jim Cramer's, DOV, Jim, Michael Nagle Organizations: Honeywell, JPMorgan, DuPont, CNBC, Eaton, Linde, JPMorgan's Honeywell, DD, LIN, Honeywell International Inc, New York Stock Exchange, Bloomberg, Getty Locations: Eaton, Dover, DuPont, Megatrends, New York

The financial firm upgraded the athletic apparel stock to a buy rating from hold and raised its price target to $97 from $83. — Lisa Kailai Han 6:48 a.m.: Goldman Sachs trims Microsoft price target Goldman Sachs is still bullish shares of Microsoft , despite a minor price target adjustment. However, she accompanied the move by lifting her price target to $80 from $75. Analyst Andrew Mok accompanied the rating change by lifting his price target to $82 from $63. To be sure, he did raise his price target by $10 to $235, implying upside of nearly 10%.

Persons: Joseph Civello, Civello, Caitlin Clark, Lisa Kailai Han, Goldman Sachs, Kash Rangan, Rangan, Bernstein, Harshita Rawat, Venmo, Cash, Rawat, — Lisa Kailai Han, Shagun Singh, Singh, Medtronic, Andrew Mok, Mok, Stephen Tusa, Tusa, divestitures, YTD, Fred Imbert Organizations: CNBC, Barclays, JPMorgan, Honeywell International, Nike, Microsoft, PayPal, RBC, RBC Capital Markets, CVS, Aetna, Honeywell, Dow Jones Industrial Locations: buybacks, Wednesday's

☆ Hedge funds do an about-face on the China trade, selling stocks in record numbers
▼ + stars: | 2024-10-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Hedge funds that recently flocked into Chinese stocks on stimulus hopes just did a 180. The net selling was 1.4 times larger than the previous record, Goldman said. "As NDRC underwhelmed, hedge funds rapidly sold off Chinese equities," Goldman strategists said in a note to clients on Wednesday. "Hedge funds not only unwound their long positions but added shorts to their books as well, with long sells being double the amount of short sells." Hedge funds had only just piled into the developing market at a record pace one week before , as Beijing's rare stimulus blitz unleashed newfound optimism.

Persons: Goldman Sachs, Goldman, David Tepper, Mehran Nakhjavani Organizations: National Development, Appaloosa Management, CNBC, China's CSI, MRB Partners Locations: China

☆ I toured a $65 million Gulfstream G650ER private jet like the one bought by Michael Jordan to see how the ultra-rich travel
▼ + stars: | 2024-10-10 | by ( Taylor Rains | ) www.businessinsider.com time to read: +1 min

The Gulfstream G650ER is one of the world's fastest and longest-range business aircraft. Michael Jordan appears to have taken delivery of the $65 million private plane in October. Go to newsletter preferences Thanks for signing up! AdvertisementMichael Jordan appears to have purchased a $65 million Gulfstream G650ER— the same type of jet owned by billionaire business tycoons like Elon Musk and Jeff Bezos. The G650ER is among the world's longest-ranged and fastest purpose-built private jets in existence.

Persons: Michael Jordan, —, Elon Musk, Jeff Bezos Organizations: Gulfstream, Service, Palm Beach International Airport, Federal Aviation Administration, MJ Air LLC, Jump Management Locations: Palm

☆ Morgan Stanley just met with Nvidia's CEO and came away even more confident in their top pick
▼ + stars: | 2024-10-10 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Nvidia remains at the forefront of AI innovation, with new opportunities to gain market share, Morgan Stanley said. Analyst Joseph Moore reiterated his overweight rating on the chipmaker and said meetings with Nvidia's CEO and other management reinforced the firm's view that it is the top pick in semiconductors. NVDA YTD mountain Nvidia stock this year. To be sure, even as Morgan Stanley doubles down on its Nvidia bull case, the company's near-term growth story has some skeptics. Shares closed down slightly on Wednesday at $132.65, just short of the stock's closing high of $135.58 met in June.

Persons: Morgan Stanley, Joseph Moore, Moore, Nvidia's Blackwell, " Moore, Blackwell, Atif Malik, he's, Katie Stockton Organizations: Nvidia, NVIDIA, Management, Citi

☆ Catastrophe bond investors unlikely to be dealt massive losses as Florida dodges Milton's worst-case scenario
▼ + stars: | 2024-10-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Hurricane Milton's impact on Florida won't cause major losses for catastrophe bond investors, portfolio managers say. Insurance companies still face significant losses, but cat bond investors aren't eyeing the worst-case scenario. AdvertisementThe impact of Hurricane Milton on Florida is unlikely to trigger massive losses for catastrophe bond investors. The losses for cat bond investors, therefore, might only be in the low-single digits. This will drive an increase in risk premiums, leading to higher return expectations for cat bond investors moving forward," Steiger said.

Persons: aren't, —, Helene, Milton, Chin Liu, Tanja Wrosch, That's, Florian Steiger, Steiger Organizations: Insurance, Service, Investors, Twelve, Bloomberg, Icosa, Progressive, Allstate, Chubb Limited, Swiss Locations: Florida, Hurricane Milton, Tampa, Milton

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