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☆ 1,200 baby boomers told us what they regret about investing for retirement
▼ + stars: | 2024-11-23 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

Millions of Americans facing retirement are worried they won't be financially prepared — or fear that they'll have to work forever. Others said they took Social Security too early or retired without a long-term financial plan. Some older Americans wish they'd had more investing knowledgeA major theme among BI's survey respondents was that they lacked knowledge about investing. She also didn't realize that because she has a pension in addition to receiving Social Security when she retires, she would be affected by a little-known Social Security provision that would lower her monthly check. Between her pension of $713 monthly and Social Security, which she expects will be between $1,200 and $1,400 monthly, she'll have just enough to cover her rent.

Persons: they'd, boomer, Gary Lee Hayes, he'd, Hayes, Charles Schwab, Nancy Seeger, Seeger, she's, I've, Nevenka Vrdoljak, Vrdoljak, PJ White, White, She's, hasn't Organizations: Social Security, Navy, Verizon, Vanguard, Transamerica Institute, Medicare, Bank, America's, Bank of America, Merrill, Bank of America Private Bank Locations: California, Cleveland, San Diego

☆ It's time to get serious about fixing the nation's power grid. That puts these stocks in a sweet spot
▼ + stars: | 2024-11-23 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

The U.S. electric grid needs a total body makeover. With Duke Austin, a fourth-generation lineman, at its helm, Quanta Services has a long history in electric power infrastructure. The backbone of the electric grid Transmission and distribution is the backbone of the electrical grid, delivering power from generation sites to consumers. PWR YTD mountain Quanta Services shares year to date MasTec MasTec has been in comeback mode. MYR Group Goldman expects MYR Group is well positioned for 2025.

Persons: Neil Mehta, Goldman Sachs, weren't, Goldman, Mehta, Duke Austin, Carly Davenport, Davenport, Austin, Goldman's Mehta, they're, MasTec, Jose Mas, MasTec's, Truist, Jamie Cook, McCoy, Cook, Ati Modak, Modak, MYR Organizations: U.S, Edison Electric Institute, MYR, CNBC, Management, MYR Group Locations: U.S, Austin

☆ In forgotten parts of Singapore's iconic Orchard Road shopping street, a new era is taking shape
▼ + stars: | 2024-11-22 | by ( Kevin Lim | ) www.cnbc.com time to read: +6 min

The Far East Shopping Center on Orchard Road in Singapore, on Thursday, April 11, 2024. Bloomberg | Bloomberg | Getty ImagesThe Far East Shopping Center along Singapore's Orchard Road has seen better days. Orchard Road, Singapore's main shopping street, is 2.2 km (1.3 miles) long but much of the activity takes place in the middle of the stretch as well as at selected malls linked via underground walkways to subway stations. Far East Shopping Center isn't connected to Orchard MRT unlike several of its neighbors. Two of the properties, the voco Orchard hotel and Forum The Shopping Mall, share some 180 meters of frontage along Orchard Road.

Persons: Ong Beng Seng, hasn't, CDL, Singapore's URA, URA, Richard Goh, Rasa Singapura, Sukanto Tanoto, Du Shuanghua, Jeremy Lake Organizations: Shopping, Bloomberg, Getty, Shopping Center, Singapore Botanic Gardens, Urban Redevelopment, Properties, Singapore, Developments, CDL Hospitality, Arts, CNBC, Singapore Botanic, Pacific Eagle, Food, Savills Singapore, Concorde Locations: Orchard, Singapore, Delfi Orchard, Istana Park, Canning, HPL

☆ Jaguar boss speaks out after backlash to the car brand's latest ad campaign — which didn't include any cars
▼ + stars: | 2024-11-22 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +4 min

AdvertisementJaguar defended its rebranding campaign after online critics roasted a promotional video. The campaign, featuring models and no cars, was criticized as "woke." Jaguar's managing director is defending the British luxury-car maker's rebranding campaign — calling out some of its online critics and characterizing their reaction as "vile hatred" and "intolerance." (Most 2024 Jaguar models have list prices of about $50,000 to $80,000.) In response to the video posted on X by Jaguar, Musk wrote : "Do you sell cars?"

Persons: Jaguar's, Rawdon Glover, Brad Audet, —, Glover, India's Tata, Elon Musk, Andrew, Tristan Tate, Ian Miles Cheong, Musk, Nick Freitas, Bud Light, Bud, it's Organizations: Financial Times, Mazda, North America, Jaguar, Rover, Land Rover, India's, India's Tata Motors, Tesla, Republican, Delegates Locations: Virginia

☆ Xi was unusually frank in spelling out China's 4 'red lines' for the US, a clear warning for Trump's China hawks
▼ + stars: | 2024-11-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Xi outlined China's "red lines" for the US, including the country's rights to development. He told Washington not to cross "four red lines" — which analysts say is a clear message for the incoming Trump administration. Foreign Minister Wang Yi has warned about not crossing Beijing's "red lines" in the past. AdvertisementXi's language raised some eyebrows, with analysts calling it "harsh" and deeming China's foreign ministry readout "strikingly negative" in some sections. Related storiesXi named Taiwan President William LaiOf the four "red lines," Taiwan is the most sensitive issue between the two countries, as Xi has repeatedly said over the years.

Persons: Jinping, Biden, Xi, Xi Jinping, Joe Biden, Washington, Trump, Igor Khrestin, George W, Khrestin, it's, Wang Yi, Florida Sen, Marco Rubio —, Beijing —, Jersey Lee, William Lai, William Lai Ching, Democratic Progressive Party —, Lai Ching, Lai, Tsai Ming Organizations: Trump, APEC Economic, Bush Institute, Trump Administration, Business, Beijing, State, Lowy, Democratic Progressive Party, Taiwan's National Security Bureau Locations: Beijing, China, Lima , Peru, Taiwan, Florida, United States, US, Ukraine

☆ The Trump trade showed its resilience this week
▼ + stars: | 2024-11-22 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Small-cap stocks were one of the biggest winners on Wall Street this week, serving as a prime example that the Trump trade is alive and well after a brief pause . Small caps were not the only components of the Trump trade that had strong gains this week. According to Tom Fitzpatrick, managing director at R.J. O'Brien & Associates, all signs point toward the Trump trade staying strong. Tesla, other stock components of the Trump trade Electric vehicle stock Tesla advanced nearly 10% this week. "I believe energy still has a lot to prove and the Trump trade didn't work out as well as investors thought it supposed to over his first term."

Persons: Trump, Russell, Donald Trump, Tom Fitzpatrick, Fitzpatrick, Bitcoin, Gary Gensler, Tesla, Elon Musk, Vivek Ramaswamy, Halliburton, Jay Woods, Woods Organizations: Nasdaq, Dow Jones, Investors, Trump, Tesla, Trump Media & Technology Group, Halliburton, U.S . Steel, O'Brien & Associates, CNBC, U.S, Securities and Exchange Commission, Freedom Capital Markets . Energy

☆ Gautam Adani's associates used Excel and PowerPoint to discuss their bribe options in a $250 million scheme, prosecutors say
▼ + stars: | 2024-11-22 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Prosecutors said four of his associates discussed their share of the bribes via Excel and PowerPoint. New York prosecutors charging one of India's richest men with bribery said his associates used Microsoft Excel and PowerPoint to discuss and analyze their corrupt payments. AdvertisementThe Adani Group and attorneys for the other defendants did not respond to requests for comment from BI. Prosecutors said that during this period, the Adani Group falsely told investors at least four times that it had not paid bribes. AdvertisementIn a statement on its website on Thursday, the Adani Group said the prosecution's accusations are "baseless and denied."

Persons: Gautam Adani, Prosecutors, Adani, Sam Bankman, Sagar Adani, Vneet Jaain, Rupesh Agarwal, Agarwal, Cyril Cabanes, Sagar Organizations: Excel, New, Microsoft, Adani, Energy, Power, Prosecutors, New York Stock Exchange, Eastern, of, Adani Group, US Department of Justice, Adani Enterprises, SEC, Wednesday Locations: New York, India, of New York, British, Hong Kong, Indian

☆ JaGUar? Luxury automaker defends controversial rebrand amid pivot to EVs
▼ + stars: | 2024-11-22 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Jaguar new logo Courtesy: JaguarLuxury carmaker Jaguar has defended a rebrand that drew widespread criticism on social media this week. In a release, Jaguar said the media showcased its "dramatic new creative philosophy," branded "Exuberant Modernism," which will "inspire future vehicles." Three new electric models are expected from the company in the coming years, including a four-door GT car expected to have a six-figure starting price. We wanted to move away from traditional automotive stereotypes," Jaguar managing director Rawdon Glover told the Financial Times in an interview published Friday. A parked car featuring the existing Jaguar logo pictured on Monday, January 25, 202.

Persons: Jaguar, Gary Jenkins, they've, Rawdon Glover, Glover Organizations: Tata Motors, Rover, Facebook, CNBC, Jaguar, Miami Art, Financial Times, Nurphoto, Getty

☆ A long-standing debt rule helped collapse Germany's government. Now the policy is ripe for reform
▼ + stars: | 2024-11-22 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +5 min

But what is the debt brake and why is it so contentious? Germany's debt brake, or 'Schuldenbremse,' is a fiscal rule that forms part of the German constitution. In some exceptional circumstances, the debt brake can be suspended — this happened for example during the Covid-19 pandemic. watch nowWhen the debt brake was first implemented, its advocates argued that it would ensure a sustainable, responsible approach to public finances and spending. Critics meanwhile, say the debt brake is too restrictive, and that it has hampered investment which is necessary for a successful future.

Persons: Olaf Scholz, John Macdougall, Christian Lindner, Scholz, Lindner, Philippa Sigl, CNBC's Annette Weisbach, Holger Schmieding, Carsten Brzeski Organizations: Bundestag, Afp, Getty, Former, Green, European Commission, CNBC, ING Locations: Germany, Russia, Ukraine

☆ T.J. Maxx is in prime position to benefit from Trump's trade policies
▼ + stars: | 2024-11-22 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

AdvertisementT.J. Maxx is set to benefit from Trump's proposed tariffs on imports. T.J. Maxx could end up benefiting from Trump's suggested tariffs. Related Video Truth Social just brought Trump a $4 billion windfall, but experts aren't soldThis means more opportunities for T.J. Maxx to buy stock as excess inventory kicks around the market. For consumers forced to trade down or priced out of their usual retail spots, T.J. Maxx might present itself as the perfect option. AdvertisementTJX, the parent company of T.J. Maxx, Marshall's, and Home Goods, beat Wall Street's estimates in the third quarter, reporting revenue of $14.1 billion, up 6% from the previous year.

Persons: Maxx, Trump, aren't, Chris Walton, Lorraine Hutchinson, Neil Saunders Organizations: Target, Omni, Bank of America, Home Goods, GlobalData Locations: T.J, China

☆ Here's why Dollar Tree and Dollar General stocks have plummeted
▼ + stars: | 2024-11-21 | by ( Ryan Baker | ) www.cnbc.com time to read: +2 min

Dollar stores companies were some best performing stocks in the S&P 500 during the Great Recession, said Piper Sandler managing director Peter Keith. Shares of Dollar Tree — which owns its namesake brand and Family Dollar — and Dollar General have both fallen roughly 50% this year. Lower income Americans, who comprise about 60% of Dollar General sales, are under more pressure to stretch their dollars in the face of high inflation. In its fiscal 2024 second quarter earnings call, Dollar General said those customers are also more reliant on online storefronts, which dollar stores have had less success in rolling out. Both Dollar Tree and Dollar General have also faced numerous worker safety violations over the past decade.

Persons: Piper Sandler, Peter Keith, Keith, Melissa Repko Organizations: Walmart, CNBC

☆ More Biden judges will be confirmed, but four appeals court nominees won’t see a vote under Senate deal
▼ + stars: | 2024-11-21 | by ( Tierney Sneed | Ted | ) edition.cnn.com time to read: +5 min

However, the four Biden appellate nominees already faced tough odds of confirmation, with some, like 3rd US Circuit Court of Appeals nominee Adeel Mangi, facing opposition among Democrats as well. The Senate deal puts Biden in a position to potentially beat Trump’s record of number of district court judges confirmed. Still, Demand Justice, an organization that advocates for progressive judicial nominees, blasted the new deal for depriving the four Biden circuit nominees of floor votes. Those efforts were always going to face headwinds and got more arduous when Trump demanded that Senate Republicans blockade all pending Biden nominees for the bench. Under the new deal, Republicans backed off procedural tactics that would stymie the confirmations of six district nominees that were on the floor Wednesday night and on Thursday.

Persons: Joe Biden’s, Donald Trump’s, Biden, Adeel Mangi, ”, Chuck Schumer, Trump, haven’t, Obama, Maggie Jo Buchanan, “, Donald Trump, headwinds, Independent Sen, Joe Manchin’s, Kyrsten Sinema, Washington –, Dick Durbin Organizations: CNN, Senate, Liberal, Democratic, Republicans, Biden, Democrats, GOP, Trump, Demand, Independent, Republican, Illinois Democrat Locations: Washington, Arizona, Illinois

☆ Target's recent trade imports data tells the real story behind massive earnings miss
▼ + stars: | 2024-11-21 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

But cargo container trade data reviewed by CNBC tells a more nuanced tale. "We took some action to move product ahead of the port strike which came with more cost," Fiddelke said. Target's peak season imports for 2024 compared to 2023 were flat to down, according to cargo container volumes data pulled and analyzed by ImportGenius. According to customs data aggregated by Panjiva, Walmart imported 25,000 shipments from May 31-August 31, valued at $1.3 billion. "With any frontloading for the port strike, inventory would be up even higher than that."

Persons: Brandon Bell, Brian Cornell, Michael Fiddelke, Fiddelke, William George, Lynn Hughes, we're, Jerry Storch, Storch, Joe Feldman, Feldman, Bill Simon, Simon, Melissa Repko Organizations: Getty, CNBC, Target, ILA, ImportGenius, Storch Advisors, Panjiva, Walmart, Telsey Locations: Austin , Texas, U.S, New England, Texas, West Coast, Savannah , Georgia, Long Beach , California, of Virginia, West, East Coast, Gulf

☆ Ukraine war is entering an 'end-game phase,' TS Lombard expert says
▼ + stars: | 2024-11-21 | 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 EmailUkraine war is entering an 'end-game phase,' TS Lombard expert saysChristopher Granville, managing director at TS Lombard, discusses the latest developments in the war in Ukraine and Western approval for Kyiv to use long-range missiles against targets within Russia.

Persons: Christopher Granville Organizations: Lombard Locations: Ukraine, Russia

Delta Air Lines will begin shaking up its menu by serving Shake Shack cheeseburgers on flights departing from Boston this December, part of a new partnership with the New York-based burger chain. Only first-class fliers on routes over 900 miles will be able to pre-select a Shake Shack cheeseburger as their meal option starting Dec. 1, Delta Airlines said Tuesday in a press release. Passengers will be served a Caesar salad, chips and a dark chocolate brownie in addition to their cheeseburger, the release stated. "At Shake Shack, we’re always looking for new and innovative ways to meet our guests where they are, even at 35,000 feet," said Michael Kark, President of Global Licensing at Shake Shack. "Taking our beloved cheeseburger to new heights, Shake Shack is proud to partner with Delta as we elevate the in-flight dining and hospitality experience for travelers across the country."

Persons: we’re, Stephanie Laster, Michael Kark, Delta Organizations: Delta Air Lines, New, Delta Airlines, Delta's, Service, Global, Delta Locations: Boston, New York

Big retailers’ fortunes are diverging as the holiday shopping season gets underway. On Wednesday, Target cited “lingering softness in discretionary categories” as a top factor in its disappointing third-quarter sales, as many budget-conscious shoppers continue to focus on necessities. It’s the latest sign that discounts will be the driving force this holiday season, as they’ve been for much of this year. “We’re starting to get back to normal here.”U.S. retail sales rose 0.4% overall in October, federal data showed last month, beating analysts’ forecasts. In the meantime, the steady expansion of e-commerce looks set to continue this holiday season.

Persons: ”, Brad Thomas, they’ve, TJ Maxx, John David Rainey, “ We’re, “ They’re, they’re, ” Thomas, Matthew Shay, TransUnion, Neil Saunders, Saunders, Helene, Milton, who’ve, ” Saunders Organizations: Target, Walmart, KeyBanc, Marshalls, CNBC, “, National Retail Federation, GlobalData, NBC

Comcast announced a plan Wednesday to spin off most of its cable television networks into a separate publicly traded company. The new company will include the USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and the Golf Channel. Comcast will retain key NBCUniversal assets, including the NBC broadcast network, NBC News, NBC Sports, the streaming service Peacock, and the cable channel Bravo. The move comes as the traditional cable television bundle faces stiff economic headwinds, most notably the rise of cord-cutting and the shift to streaming alternatives. Matt Strauss will become chairman of the NBCUniversal Media Group.

Persons: Mike Cavanagh, ” Cavanagh, “, Cavanagh, Mark Lazarus, Anand Kini, Dan Ives, ”, ” Rich Greenfield, ” Greenfield, Cesar Conde, Conde “, ” Donna Langley, Peacock, Matt Strauss, Mark Woodbury Organizations: Comcast, USA Network, CNBC, MSNBC, SYFY, Golf Channel, NBC, NBC News, NBC Sports, Bravo, Wall Street Journal, Wedbush Securities, LightShed Partners, Wednesday, NBCUniversal, Group, Telemundo, NBCUniversal Entertainment, Studios, NBCUniversal Media, Universal, General Electric, Netflix, Amazon Prime Locations: NBCUniversal

☆ Burberry shares are down 40%. One hedge fund manager says the stock offers 'good value' right now
▼ + stars: | 2024-11-20 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Luxury retailer Burberry 's shares present an attractive investment opportunity after the company revealed a new turnaround strategy, according to hedge fund manager David Neuhauser. The stock, which is also traded in the U.S. and Germany, remains down around 40% year-to-date, however. UBS said Burberry was the only luxury retailer not to report "weak organic sales growth" in the latest quarter. "I think Burberry has a good turnaround in place with a new CEO," Neuhauser added, while cautioning that the recovery might take longer than expected. "I think over some time, a good turnaround by Burberry, with strong leadership, could really see the stock price increase.

Persons: David Neuhauser, Neuhauser, CNBC's, Livermore, they're, Zuzanna Pusz, Burberry, –, Joshua Schulman, Rogerio Fujimori, Adam Cochrane, FactSet, — CNBC's Karen Gilchrist Organizations: Burberry, Livermore Partners, UBS, Deutsche Bank, Stifel Locations: London, U.S, Germany, Asia, Swiss

☆ Nvidia's stock will continue working higher, says Wells Fargo's Aaron Rakers
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia's stock will continue working higher, says Wells Fargo's Aaron RakersAaron Rakers, Wells Fargo managing director and technology analyst, join 'Power Lunch' to discuss Nvidia ahead of earnings.

Persons: Wells Fargo's Aaron Rakers Aaron Rakers, Wells Organizations: Nvidia Locations: Wells Fargo

But one thing is missing from the storied British carmaker Jaguar's new rebrand: cars. In a press release accompanying its rebrand, Jaguar's chief creative officer, Sir Gerry McGovern, explained the thinking behind the rollout. Jaguar sold fewer than 67,000 cars in the entire world last year, approximately half the number it sold in the fiscal year incorporating the beginning of the Covid-19 pandemic. In response to other X users asking why the ad didn’t feature any cars, Jaguar’s X account responded, “The story is unfolding. That ethos is seen in our new brand identity today and will be further revealed over the coming months.

Persons: Bud Light's, Lulu Cheng Meservey, grads, Sir Gerry McGovern, Adrian Mardell, ”, Rawdon Glober Organizations: Rostra, Jaguar, Art, Rover, Tata Motors Locations: U.S, Art Basel, India

"For decades, communities in Kansas City, Kansas — particularly minority and immigrant communities — have been subjected to an alarming pattern of abuse and other serious misconduct by the KCKPD," according to the suit, which was first obtained by NBC News. The complaint against the Kansas City Police Department and the Unified Government of Wyandotte County/Kansas City, Kansas, alleges they have "stonewalled" the plaintiffs for almost a year. Kansas City police and the Unified Government of Wyandotte County/Kansas City, Kansas, didn't immediately respond to a request for comment about the lawsuit. The state's public records law does maintain that certain documents are exempt from public review, including personnel information of public employees and criminal investigation records. Meanwhile, attention on Kansas City, Kansas, police is expected to return next month, when Golubski's trial is scheduled to begin.

Persons: Jay Z's, Roc, Roger Golubski, Dania Diaz, didn't, Max Kautsch, There's, Kautsch, Team Roc, Alex Spiro, Trump, Justice Department's, Golubski, Kansas City police didn't, Karl Oakman, Diaz, hasn't Organizations: Nation, Court, Innocence, Kansas City Police Department, Roc Nation, NBC News, Unified Government, Kansas, Records, Kansas City, Team, Kansas City police, FBI, Washington Post, Justice Department, Kansas City Star, Justice, Kansas City Police Locations: Kansas City , Kansas, Wyandotte County, Wyandotte County / Kansas City , Kansas, redactions, Lawrence , Kansas, Kansas, Kansas City, Kansas City , Missouri

☆ Shake Shack cheeseburgers to be served in first class on Delta flights
▼ + stars: | 2024-11-19 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

The airline announced a “first-of-its-kind partnership” with Shake Shack to serve the chain’s cheeseburgers in first class on long-distance domestic flights beginning December 1 on flights out of Delta’s hub in Boston and expanding to other cities throughout 2025. For example, Alaska Airlines created a hot coffee that tastes better in the skies, while United Airlines added cold brew coffee from Illy. Delta has served a generic cheeseburger in first class over the past few years to mostly positive reviews online. And it’s not the first airline to partner with a burger chain — United Airlines once served McDonald’s Happy Meals in the 1990s. The partnership between Delta and Shake Shack marks an expansion of the airline’s relationship with celebrated chef Danny Meyer, who founded the burger brand in 2004.

Persons: we’re, ”, Stephanie Laster, Danny Meyer Organizations: New, New York CNN — Delta Air Lines, Alaska Airlines, United, Delta, CNN, Airlines, Square Hospitality Locations: New York, Boston, United Airlines, Illy, Delta

☆ AI is hitting a wall just as valuations reach the stratosphere
▼ + stars: | 2024-11-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

The narrative from Silicon Valley is that the AI train has left the station and any smart investor had better hop on before these products become “superintelligent” and start solving all the world’s problems. Now, some of the leading language models appear to be hitting a wall, according to at least three reports last week. But if we have indeed hit a scaling wall, “it may mean that the the mega-cap technology companies have over-invested” and it’s possible that they could scale back in the near future. That’s the AI optimist/pragmatist view. For a less rosy outlook, I turned to Gary Marcus, NYU professor emeritus and outspoken critic of AI hype.

Persons: CNN Business ’, New York CNN — It’s, OpenAI, ”, that’s, “, Orion “, Ilya Sutskever, ” Sutskever, Marc Andreessen, Sam Altman, ” Gil Luria, Davidson, it’s, ” Luria, Gary Marcus, ” Marcus, “ LLMs Organizations: CNN Business, New York CNN, Nvidia, Tech, ” Bloomberg, ” Reuters Locations: New York, GPT

☆ In the short-term there's 'good value' in Burberry shares, says hedge fund manager
▼ + stars: | 2024-11-19 | 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 EmailIn the short-term there's 'good value' in Burberry shares, says hedge fund managerDavid Neuhauser, managing director and founder at hedge fund Livermore Partners, told CNBC that patient investors could benefit from the turnaround taking place at luxury goods maker Burberry. However, in the short-term there is "good value" in the stock, hedge fund manager added.

Persons: David Neuhauser Organizations: Burberry, Livermore Partners, CNBC

☆ HSBC reportedly asks middle managers to reapply for jobs as layoffs loom
▼ + stars: | 2024-11-18 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

AdvertisementHSBC has reportedly asked some managers to reapply for their jobs as part of a cost-cutting restructure. Bloomberg reported Monday that hundreds of senior staff will likely lose their jobs. HSBC has asked some managers to reapply for their jobs in its newly created corporate and institutional banking division as part of a cost-cutting drive, Bloomberg reported. The biggest change announced was the simplification of HSBC's structure, creating Eastern and Western arms to manage its global operations. He previously told staff in October that they should expect job cuts following the announcement of the revamp, Reuters reported at the time, citing an internal memo.

Persons: Georges Elhedery, Elhedery Organizations: HSBC, Bloomberg, Business Insider, Business, Reuters Locations: Asia, Pacific, Americas, London

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