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☆ Fed's Kashkari says Trump tariffs could reheat inflation if they provoke global trade 'tit for tat'
▼ + stars: | 2024-11-10 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Neel Kashkari, President and CEO, Federal Reserve Bank of Minneapolis, speaks at the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 7, 2024. Minneapolis Federal Reserve President Neel Kashkari said Sunday that President-elect Donald Trump's tariff proposals could worsen long-term inflation if global trade partners were to strike back. One-time tariffs, Kashkari said on CBS' "Face the Nation," "shouldn't have an effect long run on inflation." "The challenge becomes, if there's a tit for tat and it's one country imposing tariffs and then responses and it's escalating. Trump and his backers like billionaire Tesla CEO Elon Musk have also been outspoken about their desire to give the president input on Fed policy decisions.

Persons: Neel Kashkari, The Beverly Hilton, Donald Trump's, Kashkari, Trump, We've, Tesla, Elon Musk Organizations: Federal Reserve Bank of Minneapolis, The Beverly, Minneapolis Federal, Sunday, CBS, U.S, Wall Street Locations: Beverly Hills , California, U.S, Minneapolis, China

☆ 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

☆ CNBC Daily Open: Fedspeak reassures markets
▼ + stars: | 2024-09-24 | 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. Markets regain momentumU.S. markets rose Monday, with the S&P 500 and Dow Jones Industrial Average notching fresh closing highs. Asia-Pacific stocks mostly climbed Tuesday, with the Chinese and Hong Kong markets popping over 3% on Beijing's announcement of policy easing measures. PBOC policy easingThe People's Bank of China Governor Pan Gongsheng on Tuesday announced a cut to banks' reserve requirement ratio.

Persons: Neel Kashkari, The Beverly Hilton, Pan Gongsheng Organizations: Federal Reserve Bank of Minneapolis, The Beverly, CNBC, Dow Jones, People's Bank of China, Boeing, Tech, Big Tech, Companies, Nomura Locations: Beverly Hills , California, U.S, Asia, Pacific, Hong Kong, China, Beijing

☆ SEC says Elon Musk should be sanctioned if he keeps dodging Twitter depositions
▼ + stars: | 2024-09-20 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

In May, the court ordered Musk to appear for a deposition by the financial regulators regarding the Twitter deal. Musk's deposition in the probe has been rescheduled for a date in early October at an SEC office, the filing said. Additionally, Musk and his companies have "cooperated and are cooperating with the SEC in multiple other ongoing investigations," Spiro wrote. In the messages, the Morgan Stanley contact wrote in February 2022 that Musk's Twitter stock-buying strategy was closely held. "No one knows what is going on and why but you and me," the person at Morgan Stanley wrote.

Persons: Elon Musk, The Beverly Hilton, Robin Andrews, Andrews, Alex Spiro, Quinn Emanuel, Musk, Spiro, Morgan Stanley, Jared Birchall Organizations: SpaceX, Tesla, The Beverly, The Securities, Exchange Commission, SEC, Twitter, Oklahoma Firefighters Locations: Beverly Hills , California, U.S, Los Angeles, New York

☆ Musk ramps up attacks on Brazil’s top judge as X faces possible suspension, Starlink finances frozen
▼ + stars: | 2024-08-29 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

X Global Government Affairs issued a statement on Thursday evening ahead of an anticipated suspension of its platform in Brazil. A suspension of X in Brazil could cause serious business problems for the already embattled social network. And under Brazil's laws, social networks there have to employ someone who can receive and consider government takedown notices about political misinformation. X has no such employee in Brazil, after the company said it was removing all its employees from the country earlier this month. Mark my words," Musk wrote to de Moraes and Musk's 195.8 million listed followers on X.

Persons: Elon Musk, The Beverly Hilton, Tesla, Alexandre de Moraes, de Moraes, De Moraes, Musk, Alexandre Organizations: SpaceX, Tesla, The Beverly, X Corp, Brazilian, X Global Government Affairs Locations: Beverly Hills , California, U.S, Brazil

☆ How an Elon Musk PAC is using voter data to help Trump beat Harris in 2024 election
▼ + stars: | 2024-08-02 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

The ad then displays a website for a group called America PAC. "I have created a PAC, or a super PAC ... the America PAC," Musk said in a recent interview. But what is unique about America PAC's project is who is backing it and the timing of its creation. He recently said on X that he is "making some donations to America PAC," but did not say how much. Musk on X mirrors Musk PAC

Persons: Elon Musk, The Beverly Hilton, David Swanson, Donald Trump, Trump, they'll, Kamala Harris, Musk, Brendan Fischer, Fischer, Phil Cox, Generra Peck, Dave Rexrode, Doug Leone, Cameron, Tyler Winklevoss, Joe Lonsdale, Lonsdale Organizations: SpaceX, Tesla, The Beverly, Reuters, Google, America PAC, Republican, Democratic, Forbes, PAC, Facebook, YouTube, America, Trump, The New York Times, FEC Locations: Beverly Hills , California, U.S, Michigan, California, Wyoming, Pennsylvania, Georgia, Arizona , Michigan, North Carolina , Nevada , Pennsylvania, Wisconsin

☆ Tesla set to report second-quarter earnings after the bell Tuesday
▼ + stars: | 2024-07-23 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Tesla is set to report second-quarter earnings after the bell on Tuesday. Although Tesla reported vehicle deliveries of 443,956 in the second quarter, a 4.8% decline from the year-earlier period, those numbers were better than analysts had expected. But Musk and his stalwart Tesla bulls and broader fan base have ambitions for the EV maker beyond making and selling cars. In 2021, Musk also began to promise that Tesla would develop and produce humanoid robots capable of factory work, at least. Tesla "deliveries" are not an audited financial metric, but are the closest approximation to sales reported by the company.

Persons: Elon Musk, The Beverly Hilton, Tesla, Elon, Musk, Donald Trump, InsideEVs Organizations: SpaceX, Tesla, The Beverly, LSEG, PAC, Trump, Republican, Pew Research, Democratic, Cox Automotive, Boring Company, X Corp, CNBC Pro Locations: Beverly Hills , California, U.S

☆ Elon Musk endorses Donald Trump shortly after ex-president injured by shots fired at rally
▼ + stars: | 2024-07-13 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Elon Musk, chief executive officer of SpaceX and Tesla and owner of X, speaks at the Milken Conference 2024 in Beverly Hills, California, May 6, 2024. Elon Musk posted on X that he "fully" endorses Donald Trump moments after the former president and presumptive Republican nominee was rushed off stage by secret service members following gunshots at a rally in Pennsylvania on Saturday. "I fully endorse President Trump and hope for his rapid recovery," Musk wrote on X, which he owns. Musk also compared Trump to Theodore Roosevelt, who survived an assassination attempt while campaigning for president in 1912. Musk also said at that event that Trump "does call me out of the blue for no reason."

Persons: Elon Musk, Donald Trump, Trump, Musk, Theodore Roosevelt, Joe Biden's Organizations: SpaceX, Tesla, Republican, Trump, NBC, Bloomberg, PAC, America PAC, Forbes Locations: Beverly Hills , California, Pennsylvania, Butler County, Lago, Palm Beach

☆ Elon Musk's X deceives users and breaches online content rules, EU says
▼ + stars: | 2024-07-12 | by ( April Roach | ) www.cnbc.com time to read: +1 min

Elon Musk's X is in breach of EU online content rules as the social media platform uses "dark patterns" to deceive users, the European Commission said Friday. The body's preliminary view, published Friday, is that the platform has broken rules regarding dark patterns, advertising transparency and data access for researchers. X's use of the blue checkmark for "verified accounts" does not correspond to industry practices as anyone can subscribe and obtain a verified status, the commission said. It added that there was evidence of "motivated malicious actors" abusing the verified status to deceive users. If the commission's views are confirmed, X could face a fine of up to 6% of its global annual turnover.

Persons: Elon Musk, Elon Musk's, Thierry Breton Organizations: SpaceX, Tesla, European Commission, Digital Services Locations: Beverly Hills , California

☆ Elon Musk threatens to ban Apple devices from his companies over OpenAI partnership
▼ + stars: | 2024-06-10 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Elon Musk, the CEO of Tesla and SpaceX, threatened to ban Apple devices from his companies on Monday after the iPhone maker announced a partnership with OpenAI. In a series of posts on his social media platform X, Musk shared concerns about whether Apple and OpenAI will protect users' information. He specifically said that Apple devices would be banned if the company "integrates OpenAI at the OS level," referring to Apple's operating system. Musk replied directly to a post from Apple CEO Tim Cook and claimed he will ban Apple devices from his companies' premises unless Cook decides to "stop this creepy spyware." He added that his companies' visitors will be asked to check their Apple devices at the door.

Persons: Elon Musk, The Beverly Hilton, Musk, Apple, Siri, ChatGPT, Tim Cook, Cook, He's, Sam Altman, OpenAI, Altman, didn't, —, Steve Kovach, Lora Kolodny, Tesla Organizations: SpaceX, Tesla, The Beverly, OpenAI, Apple, CNBC, Company Locations: Beverly Hills , California, U.S

☆ Sternlicht defends gating Starwood REIT withdrawals, hopes it will be a 'six-month thing' as rates fall
▼ + stars: | 2024-06-05 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Barry Sternlicht, chairman and CEO of Starwood Capital Group, speaks at the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, on May 7, 2024. Barry Sternlicht, Starwood Capital Group chairman and CEO, defended his decision to cap how much money investors could pull from his real estate fund amid mounting losses and redemption requests. The firm said the real estate trust, one of the largest in the world, maintained $752 million of immediate liquidity as of the end of April. Sternlicht called the Fed's monetary policy "unbelievably ineffective," but he believes interest rates will come down soon. "The real estate asset class is probably the biggest victim of the unintended consequence of his actions," he said.

Persons: Barry Sternlicht, The Beverly Hilton, Sternlicht, who've Organizations: Starwood Capital Group, The Beverly, Starwood, Income Trust Locations: Beverly Hills , California

☆ Elon Musk ordered Nvidia to ship thousands of AI chips reserved for Tesla to X and xAI
▼ + stars: | 2024-06-04 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +12 min

Correspondence from Nvidia staffers also indicates that Musk diverted a sizable shipment of AI processors that had been reserved for Tesla to his social media company X, formerly known as Twitter. "Elon prioritizing X H100 GPU cluster deployment at X versus Tesla by redirecting 12k of shipped H100 GPUs originally slated for Tesla to X instead," an Nvidia memo from December said. In a post on X in November, Musk wrote, "X Corp investors will own 25% of xAI." At Tesla, Musk has promised to build a $500 million "Dojo" supercomputer in Buffalo, New York, and a "super dense, water-cooled supercomputer cluster" at the company's factory in Austin, Texas. WATCH: Musk ordered Nvidia to ship thousands of AI chips to X

Persons: Elon Musk, David Swanson, Reuters Elon Musk, he's, Tesla's, Musk, Tesla, Elon, Critics, OpenAI's ChatGPT, Axios Harris, Jensen Huang, Huang, David Paul Morris, xAI's Grok, xAI, he'd, He's, Leo Koguan, Gerber Kawasaki's Ross Gerber, Joel Fleming, Fleming, hasn't, Ethan Knight Organizations: SpaceX, Tesla, Reuters, Nvidia, Tesla's Texas, CNBC, X Corp, EV, Google, Meta, Microsoft, Blackwell, Nvidia Corp, Technology, Bloomberg, Getty, Twitter, Equity Litigation Locations: Beverly Hills , California, Tesla's, U.S, San Jose , California, Buffalo , New York, Austin , Texas, North Dakota, Delaware, Tesla, xAI, SolarCity, Texas, New York

☆ CNBC Daily Open: Musk's artificial intelligence start-up raises $6 billion
▼ + stars: | 2024-05-28 | by ( Abid Ali | ) www.cnbc.com time to read: +3 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. Nvidia's stock rose 2.6% on Friday, contributing to a 15% surge for the week, while the Nasdaq led major indexes with a 1.41% weekly gain. Nvidia CEO's net worth soarsNvidia CEO Jensen Huang's net worth soared to over $90 billion as better-than-expected earnings sent the company's stock soaring to a record high. Last Thursday, the stock rose more than 9% to close at nearly $1,038 per share.

Persons: Elon Musk, The Beverly Hilton, Jensen, Huang, Glass Lewis, Obama, Weizhen Tan Organizations: SpaceX, Tesla, The Beverly, CNBC, Nasdaq, Dow Jones, Treasury, Nvidia, Investors, Google, Nikkei, Bank of Japan's, CSI Locations: Beverly Hills , California, U.S, Texas, Asia, Pacific

☆ Should Elon Musk be paid $56 billion? Tesla shareholders get to vote
▼ + stars: | 2024-05-27 | by ( David Ingram | ) www.cnbc.com time to read: +10 min

Several investors released a joint letter this month urging fellow shareholders to vote down the package as excessive. Tesla shareholders approved the pay package in 2018, with compensation tied to Tesla's performance including its market value. And he still has time to meet goals he hasn't reached, including on revenue, because the pay package had a 10-year term. In the 440-page proxy statement explaining the vote, a committee of the Tesla board noted the "novel circumstances." Some people began sharing screenshots of their votes in April, shortly after the Tesla board announced the vote, and the deadline to vote online is June 12.

Persons: Elon Musk, The Beverly Hilton, Tesla, James Park, Musk, He's, Judge Kathaleen McCormick, McCormick, Nadya Malenko, hasn't, Ann Lipton, Lipton, — I'm, Musk's, there's, —, Rowe Price, didn't, Brad Lander Organizations: SpaceX, Tesla, The Beverly, Wall Street, University of California, CNBC, Bloomberg, Reuters, Boston College's, Tulane University, Disney, New York, Amalgamated Bank . Locations: Beverly Hills , California, U.S, Delaware, Austin , Texas, —, Los Angeles, Texas, New York City

☆ Musk wins court reprieve in fight against Australian government over church stabbing videos
▼ + stars: | 2024-05-13 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

Elon Musk's social media platform X won a reprieve Monday after an Australian court refused to extend a temporary order to block videos of a Sydney church stabbing. Following the incident, the country's eSafety Commissioner was granted a temporary legal injunction ordering X to hide posts that showed footage of the attack. In an interview last month, Albanese said Musk thinks "he's above Australian law" and called him out for his "arrogance." "The e-Safety Commissioner has made a ruling. Still, online safety "requires platforms to do everything practical and reasonable to minimize the harm it may cause to Australians," the eSafety Commissioner added.

Persons: Elon Musk, The Beverly Hilton, Elon, Bishop Mar Mari Emmanuel, Musk, Anthony Albanese, Albanese, " Albanese Organizations: SpaceX, Tesla, The Beverly, eSafety, Tech Locations: Beverly Hills , California, U.S, Sydney

☆ Authentic Brands CEO, Jamie Salter, and soccer legend, David Beckham sit down with Sara Eisen to discuss the consumer, the power of live sports and Miami AFC
▼ + stars: | 2024-05-08 | 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 EmailAuthentic Brands CEO, Jamie Salter, and soccer legend, David Beckham sit down with Sara Eisen to discuss the consumer, the power of live sports and Miami AFCSara Eisen sits down at the Milken Conference with soccer legend, David Beckham, and Authentic Brands CEO, Jamie Salter to talk sports, retail, the consumer and Inter Miami CF.

Persons: Jamie Salter, David Beckham, Sara Eisen, Miami AFC Sara Eisen Organizations: Authentic, Miami AFC, Milken Conference, Authentic Brands, Inter Miami CF

☆ Watch CNBC's full interview with David Zervos and Anne Walsh at Milken Conference
▼ + stars: | 2024-05-07 | 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 EmailWatch CNBC's full interview with David Zervos and Anne Walsh at Milken ConferenceHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: David Zervos, Anne Walsh, Brian Sullivan, “ Organizations: CNBC

☆ Zeta Global CEO David Steinberg talks AI in focus at Milken Conference
▼ + stars: | 2024-05-06 | 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 EmailZeta Global CEO David Steinberg talks AI in focus at Milken ConferenceHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: David Steinberg, Brian Sullivan, “ Organizations: Zeta Global, Milken, CNBC

☆ Sen. Joe Manchin: The U.S. needs supply chain it can rely on with 'our allies not our adversaries'
▼ + stars: | 2024-05-06 | 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 EmailSen. Joe Manchin: The U.S. needs supply chain it can rely on with 'our allies not our adversaries'Sen. Joe Manchin joins 'Last Call' at the Milken Conference to talk U.S. energy policy.

Persons: Email Sen, Joe Manchin, Sen Organizations: Email, Milken Conference Locations: U.S

☆ What Wall Street is telling employees about returning to the office, from Goldman Sachs to JPMorgan and Blackstone
▼ + stars: | 2023-09-04 | by ( Kaja Whitehouse | Michelle Abrego | ) www.businessinsider.com time to read: +11 min

According to Goldman's chief economist, Jan Hatzius, some 25% of all US workers work from home at least part of the week. So, which Wall Street firms are still letting employees work from home at least part of the time? On days employees are in, the firm focuses on taking "advantage of our shared location," it reads. At that time, the firm called for its employees to come into the office a minimum of three days a week. Since then, most employees have been in the office throughout the week, according to a person familiar with the firm.

Persons: Goldman Sachs, David Solomon, Citadel's Ken Griffin, Joe Biden, Jan Hatzius, Hatzius, Jamie Dimon, Goldman, Goldman Sachs Goldman Sachs, —, Dimon, JPMorgan Gretchen Ertl, Jane Fraser, she's, Fraser, they're, Citigroup Patrick, Fallon, Brian T, Moynihan, Bank of America Shannon Stapleton, Reuters Morgan Stanley Morgan Stanley's, James Gorman, Gorman, Gorman doesn't, Morgan Stanley, we're, James Gorman SAUL LOEB, Larry Fink, Larry Fink Spencer Platt, Citadel's Griffin, Griffin, Raj Mahajan, Ken Griffin, Milken, Mike Blake, Blackstone, Stephen Schwarzman Roy Rochlin, Nir Bar Dea, Izzy Englander's Organizations: JPMorgan, Blackstone, Morning, Citadel, Bloomberg, Business, Deloitte, JPMorgan JPMorgan, Goldman, Citigroup, Street, Bank, Economic, Getty Images Bank of America Bank of, Bank of America, Reuters, Getty, BlackRock BlackRock, Yards, Labor, Fox, BlackRock, Citadel Securities, Blackstone Blackstone, Bridgewater Bridgewater Associates, Bridgewater Associates, Bridgewater Locations: Citadel, Davos, Switzerland, New York City

☆ Here are the 5 key takeaways from this year's Milken Global conference
▼ + stars: | 2023-05-05 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +12 min

The pullback by banks is raising the hopes of those in the private credit industry. Some panelists and others who spoke in the hallways of the event suggested that there was a large-scale handoff from private equity to private credit. Many private-equity firms are scrambling to raise private credit funds to take advantage. "I don't think this is the end of private equity, but the environment certainly favors private credit," he said. And that will show up in lower returns for private credit funds, she said.

☆ Davos vs. Milken: Battle of the high-profile conferences
▼ + stars: | 2023-05-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Arguably the biggest financial conference of the year just wrapped in Beverly Hills. Insider's Dakin Campbell, who was on the ground at Milken, has a report on the five biggest topics discussed this year. Dakin's report got me thinking about how Milken stacks up against another high-profile conference: Davos. Milken is also designed, thanks to its namesake, with a keen eye on what the finance industry wants, he added. Click here to read more about the biggest topics being discussed at the Milken Conference.

☆ 4 of the world's elite investors agree on the biggest risks that will cause the next recession. Here's how they're each protecting clients with over half a trillion in combined assets.
▼ + stars: | 2023-05-05 | by ( William Edwards | Akin Oyedele | ) www.businessinsider.com time to read: +6 min

Below, we've their quotes on the subjects, along with how they said they're protecting their clients' money. I think it is a good chance, more than a little bit, that there will be a conflict, an invasion of Taiwan. Where to invest now: Roeper said he's bullish on aerospace companies because they're having a "pretty solid recovery" right now. The Vanguard Total Bond Market ETF (BND) offers exposure to different areas of the bond market. Where to invest now: Blake said he likes hybrid bonds, investment-grade bonds over a six-12 month duration, and private credit.

☆ Elite investors and fund managers at the legendary Milken conference warn of a recession and credit crunch
▼ + stars: | 2023-05-04 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Elite money managers overseeing trillions of dollars convened at the 2023 Milken Global Conference in Los Angeles this week. The consensus was clear: they think markets are mispositioned for a scenario where the central bank keeps rates higher for longer. "As our chief economist likes to say," Hunt said, "at higher rates, bodies will continue to float to the top over the course of the summer." And with yet another Fed rate hike officially in the books, financial conditions are only going to get tighter and more companies could be caught off-guard. On Wednesday, West Texas crude dropped more than 4.4%, the steep declines coming the same day as the Fed's rate hike.

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