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☆ Viral banana artwork has sold again — this time for $6.24 million
▼ + stars: | 2024-11-21 | by ( Oscar Holland | ) edition.cnn.com time to read: +5 min

But artist Maurizio Cattelan’s viral creation, titled “Comedian,” has proven a sound investment for one collector: One of the artwork’s three “editions” smashed estimates to sell for $6.24 million at a Sotheby’s auction in New York on Wednesday. The auction house had estimated the work to go for between $1 million to $1.5 million; bidding began at $800,000. Prior to the sale, Sotheby’s confirmed to CNN that neither the tape nor, thankfully, the banana are the originals. The Miami installation was eventually removed amid public safety concerns, but all three editions were sold at the fair. In interviews given since the Miami installation, Cattelan has described “Comedian” as a work of commentary.

Persons: Maurizio Cattelan’s, ”, , Oliver Barker, Sotheby’s, Justin Sun, ” Sun, “, ’, Marcel Duchamp’s, David Datuna, David Galperin, ” Galperin Organizations: CNN, Art Basel Miami Beach, Guggenheim, Art Newspaper, Leeum Museum of Art, Seoul National University Locations: New York, Miami, Americas, Seoul, South Korea, London, Paris, Milan, Hong Kong, Dubai, Taipei, Tokyo, Los Angeles

☆ Elon Musk says he's had little to do with Trump's cabinet picks — he just likes 'spending time' with the man
▼ + stars: | 2024-11-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

But the Tesla and SpaceX CEO said he's had little input on Trump's Cabinet picks. Elon Musk says he's had little input on President-elect Donald Trump's cabinet picks. He was a major contributor to Trump's campaign, spending just under $119 million on his pro-Trump political action committee, America PAC. Musk, according to multiple media reports, has joined Trump's calls with Ukrainian President Volodymyr Zelenskyy and Google CEO Sundar Pichai. Lutnick, Musk wrote in an X post on November 16, "will actually enact change," compared to another candidate, hedge fund CEO Scott Bessent.

Persons: Elon Musk, Donald Trump, he's, Musk, Donald Trump's, Haven't, Robert F, Kennedy Jr, cott, ott Organizations: SpaceX, Cabinet, New York Post, Trump's, UFC, Trump, Madison Locations: Lago, Palm Beach , Florida, usk

☆ Who is Jimmy Lai, the Hong Kong media tycoon facing a life sentence in a national security trial?
▼ + stars: | 2024-11-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

Now 77, he's facing a life sentence in a national security trial in Hong Kong. I would just relay to him what happened in Hong Kong when he asked me," Lai said in court, per Reuters. This mass sentencing of Hong Kong's activists was also based on charges under Hong Kong's national security law. Related storiesThe imposition of the national security law marked the effective end of Hong Kong's political autonomy from China. "Above all else, the implementation rules have the potential to radically criminalize online speech in Hong Kong," Woodhams said.

Persons: Jimmy Lai, Kong's, Lai, Hong Kong's, Mike Pence Organizations: Hong Kong, Apple, China, White House, Democracy Locations: Hong, Hong Kong, China, Northern California

In this article MAR Follow your favorite stocks CREATE FREE ACCOUNTMarriott International's business operations and growth are solid, CEO Anthony Capuano told CNBC Monday, amid layoffs of more than 800 corporate employees and continued sluggishness in China's tourism market. Marriott International reported net room growth of 6% year-on-year and room rate growth of 2.5%, driven by a strong return of group travel, which Capuano called the "bright, shining star" for the business today. The company raised its year-end guidance for net room growth, and added 9 million new Bonvoy members in the third quarter. That measure turned out to be corporate layoffs, first reported by the travel media company Skift on Nov. 14, which later linked to a notice of "mass layoffs" of 833 Marriott employees posted on a Maryland government labor website. watch nowCapuano denied that the company — which doubled in size during the past decade — grew too big, too fast, at least in terms of corporate employees, instead calling the move a much-needed "reorganization" of its global corporate structure.

Persons: Anthony Capuano, Capuano, Leeny Oberg, —, Rather Organizations: Marriott, CNBC, Marriott International, Uber, Starbucks Locations: RevPar, China, Greater China, Maryland, Bethesda , Maryland

☆ Speaker Mike Johnson says he supports banning transgender women from using women's bathrooms
▼ + stars: | 2024-11-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ali-Vitali-Circle-Byline-Template.Jpg | Ali Vitali | ) www.nbcnews.com time to read: +4 min

Speaker Mike Johnson on Wednesday said that he supports restricting “single-sex facilities” in the Capitol, including restrooms, to “individuals of that biological sex”— which would effectively ban the first transgender congresswoman from using women’s bathrooms in the next Congress. Rep. Nancy Mace, R-S.C., introduced a resolution this week that would ban transgender women from using women's bathrooms and other facilities at the Capitol. She said Tuesday the bill "absolutely" targets Rep.-elect Sarah McBride, D-Del., the first openly transgender person elected to Congress. In a statement posted to X on Wednesday, McBride wrote, “I’m not here to fight about bathrooms. We should be focused on bringing down the cost of housing, health care, and child care, not manufacturing culture wars."

Persons: Mike Johnson, Nancy Mace, Sarah McBride, Johnson, ” Johnson, McBride, “ I’m, Speaker Johnson, I’ve, ”, doesn’t, Mace, resoundingly, Hakeem Jeffries, ” Jeffries, ” Sarah McBride, Andrew Harnik, Jeffries, Jamie Raskin, Pramila Jayapal, Jayapal, Chuck Schumer, ” McBride Organizations: Rep, Capitol and, GOP, Republican, Small House Republican Conference, U.S, Capitol

☆ They relocated to Spain six years ago. Now this couple say they’d be ‘very depressed’ if they ever had to move back to the United States
▼ + stars: | 2024-11-20 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +14 min

Starting overThe couple, pictured at a friend's party in Malaga, also considered moving to Singapore, but decided on Spain due to its closer proximity to the United States. Gail and Greg WarnerThey’d originally planned to leave the United States in December 2018. The couple quickly put their Florida home on the market and set about winding down their lives in the United States. Now that they’ve lived outside of the US for so long, the couple say they can’t imagine ever moving back, and feel as though they were often on a “hamster wheel” before. Just go with it.’”Gail and Greg couldn’t be happier with their new lives, but the couple do have one regret about leaving the United States and starting over in Spain.

Persons: Gail, Greg Warner, they’re, ’ ”, Beau, Gail Warner “, ”, Greg, who’ve, ” Greg, “, ” “ We’d, Greg Warner They’d, Guess I’m, I’ve, ” Gail, she’d, ’ ” Greg, he’s, Sergio, they’ve, “ I’m, Betty Rivas “, United States “, ’ ” Gail, Greg couldn’t Organizations: CNN, EU, “, Malaga City Locations: United States, Florida, Chicago, Singapore, Spain, Europe, Spanish, Valencia, Indiana, Malaga, Canada, France, States, Costa del Sol, Southern Spain, Andalucía, Slovenia

☆ Liam Payne funeral: One Direction bandmates attend
▼ + stars: | 2024-11-20 | by ( Hannah Peart | Hannah Peart Is An Intern In The Nbc News London Bureau. | ) www.nbcnews.com time to read: +2 min

LONDON — Liam Payne’s funeral was taking place Wednesday in south-east England, just over a month after the One Direction star died after falling from a hotel balcony in Argentina’s capital, Buenos Aires. Girls Aloud star Cheryl, the mother of Payne’s seven-year-old son Bear, was also expected to join the funeral proceedings. Liam will forever live in our hearts and we’ll remember him for his kind, funny and brave soul." In a joint statement, his One Direction bandmates said they were "completely devastated." Pallbearers carry the coffin of the singer Liam Payne into the church ahead of his funeral on Wednesday.

Persons: Liam Payne’s, — Louis Tomlinson, Niall Horan, Zayn Malik, Harry Styles —, Payne’s, Kate Cassidy, Cheryl, Bear, Liam’s, Liam, Pallbearers, Liam Payne, Justin Tallis, Payne Organizations: Getty Locations: England, Argentina’s, Buenos Aires, Britain

WASHINGTON — Members of the House Ethics Committee will meet behind closed doors Wednesday afternoon to discuss whether to publicly release a report detailing their sweeping investigation into former Rep. Matt Gaetz, President-elect Donald Trump’s pick for attorney general. Several Republicans and Democrats in the Senate have said they want to review the House report before a Judiciary Committee confirmation hearing for Gaetz next year. She argued that there is precedent for the Ethics Committee to publish reports after members of Congress have resigned. If the committee declines to make the Gaetz report public, any House member can try to force a vote to release it. In September 1996, House Democrats tried to force the Ethics Committee to release a report from an outside counsel about its investigation of then-Speaker Newt Gingrich, R-Ga.

Persons: Matt Gaetz, Donald Trump’s, Gaetz, Mike Johnson, Trump, “ I’ve, ” Johnson, “ Matt Gaetz, —, Michael Guest, Susan Wild, Joel Leppard, Leppard, ”, JD Vance, Pete Hegseth, Bill Boner, Boner, Boner’s, Buz Lukens, Newt Gingrich Organizations: WASHINGTON, Republicans, Democrats, Justice Department, NBC News, Trump, Capitol, Cabinet, Senate, Congress, “, Committee Locations: Florida, Nashville, Ohio

☆ Greeks go on general strike demanding higher pay
▼ + stars: | 2024-11-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

ATHENS — Ships docked at Greek ports, and railway and bus services were disrupted on Wednesday as transport workers, hospital doctors, school teachers together with construction workers joined a nationwide strike to protest squeezed living standards and demand higher pay. Many Greeks saw their wages and pensions slashed in return for bailouts worth 280 billion euros ($297 billion) during a 2009-2018 debt crisis which shaved a quarter off Greece’s economic output and nearly pushed the country out of the eurozone. Workers were expected to protest in central Athens later on Wednesday. The strike comes as the government submits later on Wednesday its final 2025 budget to the 300-seat parliament for debate before a vote due next month. The draft budget sees economic growth of 2.3% next year and higher tax revenues thanks to expanding digital payments and booming property sales.

Persons: Kyriakos Mitsotakis, ”, Greece —, Mitsotakis Organizations: ATHENS — Ships, Workers Locations: ATHENS, Greece, Athens

☆ Political and social division is driving interest in ‘golden visas’
▼ + stars: | 2024-11-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

Interest in so-called “golden visas” has skyrocketed among US citizens since the election, according to consultants that help the wealthy migrate. Golden visas allow people to effectively buy foreign citizenship or residence through sizable investments, including in real estate, government bonds or startups. Jc Milhet/Hans Lucas/AFP/Getty ImagesInquiries about golden visas from Americans have increased 33% so far this year compared with the same period last year, with programs in Europe the most sought after. Portugal’s Golden Residence Permit Program tops the popularity list because it is relatively affordable, requiring a minimum outlay of €250,000 ($265,000) in support of the arts or national cultural heritage. With golden visas out of reach for most Americans, social media platforms are ablaze with chatter about other avenues for moving abroad.

Persons: Donald Trump, ”, Dominic Volek, Armand Arton, “, Covid lockdowns, …, Jc Milhet, Hans Lucas, Portugal’s, Thomas Coex, Trump, ” Flannery Foster, “ I’ve, ” Foster, Foster, ’ Organizations: London CNN, Democratic, Henley & Partners, Arton, CNN, Getty, Union, Plaza Mayor, LGBT, Spanish Locations: Europe, Ollolai, Sardinia, Nigeria, South Africa, China, India, Philippines, United States, Valletta, AFP, Greece, Spain, Italy, Malta, Austria, €, Madrid, Reddit, USA

☆ DOGE's potential first target is a mobile app for filing your taxes
▼ + stars: | 2024-11-20 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

AdvertisementElon Musk's DOGE is considering developing a mobile app for tax filing, per the Washington Post. Elon Musk and Vivek Ramaswamy have been tasked with slashing government spending under Trump. Elon Musk's Department of Government Efficiency reportedly has its first target — the US tax system. Musk and Vivek Ramaswamy's cost-cutting agency has discussed developing a mobile app that would let Americans file their taxes for free, two sources told The Washington Post. Musk and DOGE did not respond to a request for comment from Business Insider, sent outside normal working hours.

Persons: Elon, Elon Musk, Vivek Ramaswamy, Vivek Ramaswamy's, Ramaswamy, Donald Trump's, Joe Biden, Musk Organizations: Washington Post, Intuit, Trump, Elon Musk's Department, Government Efficiency, Washington, Republicans, Treasury, Business Locations: Washington

☆ 7 key details from Elon Musk and Vivek Ramaswamy's DOGE plan
▼ + stars: | 2024-11-20 | by ( John L. Dorman | Alice Tecotzky | ) www.businessinsider.com time to read: +8 min

On Wednesday, Musk and Ramaswamy outlined their vision for DOGE, which Musk previously said would cut $2 trillion from the federal budget. Ron DeSantis' Presidential Announcement with Elon MuskTheir opinion piece, published in the Wall Street Journal, is lengthy and dense, filled with Supreme Court rulings and decades-old statutes. Musk and Ramaswamy wrote that their goal for deep reform will be rooted in two Supreme Court rulings. Musk and Ramaswamy make it clear that by eliminating federal regulations, there should also be "mass head-count reductions across the federal bureaucracy." Musk and Ramaswamy note that Trump has implied that the statute is unconstitutional and predict that the Supreme Court would agree.

Persons: Elon Musk, Vivek Ramaswamy, Ramaswamy, Musk, Ron DeSantis, Loper, Raimondo, Chevron, Trump, haven't, DOGE, Musk's, Tesla, overreach Organizations: Department of Government, Florida Gov, Elon, Street, Management, Environmental Protection Agency, Chevron, Natural Resources Defense Council, Congress, Corporation for Public Broadcasting, Public Broadcasting Service, National Public Radio, Social Security, SpaceX, Trump, Musk Locations: Florida, America, West Virginia

☆ Corporate insiders are selling shares at a record pace in the fourth quarter
▼ + stars: | 2024-11-20 | by ( Nick Wells | ) www.cnbc.com time to read: +4 min

Corporate insiders are taking advantage of the stock market's postelection boom to all-time highs, unloading shares at record levels. The data includes trades made under preplanned 10b5-1 trading plans. Plus, many 10b5-1 trading plans are price-triggered meaning that executives select levels at which to sell shares. Executives at private education firm Grand Canyon Education have sold an aggregate $2.3 million worth of shares in the fourth quarter, per Verity. Nucor CEO Leon Topalian sold $1.9 million in shares the day following the election at an average price of $169.11.

Persons: preplanned, Ben Silverman, Silverman, Verity, Brian Mueller, Reid Hoffman's, Donald Trump's, Tump, Alexander Karp, Daniel D'Aniello, Carlyle, Tesla, Kathleen Wilson, Thompson, Robyn Denholm, Phillip Juhan, Eric Swider, Leon Topalian, Holden Lewis, Daniel Florness, —, Jesse Pound Organizations: Education, Canyon Education, Partners, Aurora, Big, Carlyle Group, Trump Media, Securities, Exchange

☆ She worked at some of Singapore's best Michelin-starred restaurants. Now, she runs a fine dining place out of her 1000-square-foot public housing apartment.
▼ + stars: | 2024-11-20 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

AdvertisementPristina Mok has worked at some of Singapore's top Michelin-star restaurants like Odette and Zen. After a few years at Odette, she worked at Zen, a three-Michelin-star restaurant serving Nordic dishes with Asian influences. Fine dining, apartment-styleMok's cozy fine dining restaurant seats eight guests three times a week. Aditi BharadeUpon entering Fragment, guests are often greeted by Pebble, Mok's poodle. AdvertisementScaling down has its drawbacksWhile her husband helps her plate and serve the dishes, Mok handles most of the workload.

Persons: Pristina Mok, Odette, Aditi Bharade, Mok, Lionel Lim, Aditi Bharade Mok, —, hadn't Organizations: Michelin, National Gallery of Singapore, Zen, Raffles Locations: Pristina, Mok's, Hokkaido

☆ Ramirez: Target's private labels shine, but Walmart leads in groceries.
▼ + stars: | 2024-11-20 | 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 EmailRamirez: Target's private labels shine, but Walmart leads in groceries. Jessica Ramirez, Senior Research Analyst at Jane Hali & Associates, discusses Walmart and Target's performance, emphasizing Walmart's strength in groceries and Target's focus on private labels and holiday traffic drivers. She notes cautious consumer spending, strategic promotions, and TJX's success in beauty amid shifting trends.

Persons: Ramirez, Jessica Ramirez, Jane Hali Organizations: Walmart, Associates

☆ Marc Rowan is the visionary behind Apollo's private-credit boom. Here's what happens if he leaves for the Trump White House.
▼ + stars: | 2024-11-20 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +5 min

AdvertisementApollo CEO Marc Rowan has transformed Apollo since he took over as CEO in 2021. Since Marc Rowan took over Apollo Global Management in 2021, he's transformed the firm — sending the stock skyrocketing. Representatives for Apollo didn't return a request for comment on Rowan's plans or the firm's succession plans. Rowan is Apollo's second CEO since the firm was founded in 1990. In a presentation to investors in October, Rowan unveiled plans to double down on the firm's lending business.

Persons: Marc Rowan, Donald Trump, he's, Chris Kotowski, Oppenheimer, Rowan, Kotowkski, Marc, Kotowski, Scott Kleinman, Jim Zelter, Grant Kvalheim, Apollo didn't, Leon Black, Jeffrey Epstein, Apollo, Black, Epstein, Josh Harris, Harris, Athene, Kleinman, Zelter, Trump, it's Organizations: Apollo Global Management, Trump White House, APO, Washington, Apollo, Citigroup, Athene, Trump Locations: Athene USA

☆ She worked at some of Singapore's top Michelin restaurants. Now, she runs a fine-dining place out of her public housing apartment.
▼ + stars: | 2024-11-20 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +6 min

AdvertisementPristina Mok has worked at some of Singapore's top Michelin-star restaurants, like Odette and Zen. After a few years at Odette, she worked at Zen, a three-Michelin-star restaurant serving Nordic dishes with Asian influences. Fine dining, apartment-styleMok's cozy fine dining restaurant seats eight guests three times a week. Aditi BharadeUpon entering Fragment, guests are often greeted by Pebble, Mok's poodle. AdvertisementScaling down has its drawbacksWhile her husband helps her plate and serve the dishes, Mok handles most of the workload.

Persons: Pristina Mok, Odette, Mok, Aditi Bharade, Lionel Lim, Aditi Bharade Mok, —, hadn't Organizations: Michelin, National Gallery of Singapore, Zen, Raffles Locations: Pristina, Mok's, Singapore, Hokkaido

☆ The DOGE commission explains how it will reduce head count at federal agencies with a plan to get rid of remote work and offer workers early retirement
▼ + stars: | 2024-11-20 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

AdvertisementElon Musk and Vivek Ramaswamy offered more details on their DOGE government efficiency commission. They said their plans to cut government spending will lead to layoffs across federal agencies. The leaders of President-elect Donald Trump's government efficiency commission have more details on how they will reduce head count across government agencies. With the federal government being the largest employer in the US, with a workforce of over 2 million Americans, the DOGE commission could have a wide-ranging impact. Are you a federal worker with thoughts on DOGE?

Persons: Elon Musk, Vivek Ramaswamy, Donald Trump's, Ramaswamy, Trump, Musk Organizations: Tesla, GOP, Street, of Government, Management, Trump, Treasury Department, Department of Health, Human Services, Social Security Administration, Department of Defense, Congress, Social Security, Medicare

☆ Wall Street awaits Nvidia's earning report for clues about the chip giant's future
▼ + stars: | 2024-11-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, all eyes are on Nvidia's earnings report after the bell and what it says about the chip giant's future. As the world's top provider of AI chips, demand for Blackwell is a bellwether for the industry's appetite for continued investment in AI. Reports of Blackwell chips overheating spooked the market earlier this week. AdvertisementIt's another cost companies investing in AI chips need to consider in addition to the energy required to fuel them, which has been a headache for tech giants . Barclays trimmed earning estimates next year by as much as 10% for some of the biggest buyers of AI chips, like Meta, Amazon, and Alphabet.

Persons: Jocko, we've, Getty, Tyler Le, It's, Matthew Fox, Blackwell, Jensen Huang, —, BI's Emma Cosgrove, There's, hasn't, Howard Lutnick ANGELA WEISS, Howard Lutnick, Cantor Fitzgerald, Julian Robertson, Tiger hasn't, Goldman, Vivek Bantwal, Goldman Sachs, Rebecca Zisser, Rob Kim, Arturo Holmes, Chelsea Jia Feng, Trump's, Elon, colluding, Gary Wang, Sam Bankman, Gina Raimondo, Antony Blinken, Bill Hwang, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Retired Navy, Nvidia, Blackwell, Barclays, Getty, Trump, New, Tiger Management, Partners, Companies, Alexa, Uber, Ticketmaster, Apple, Google, DOJ, International Network of AI, Archegos Capital Management Locations: New York, Silicon, San Francisco, Chicago, London

☆ Alphabet's VC arm backs little-known SAP rival Odoo, boosting valuation to $5.3 billion
▼ + stars: | 2024-11-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Fabien Pinckaers, CEO of Belgian-based enterprise software startup Odoo. OdooOdoo, a startup taking on SAP in the realm of enterprise software, boosted its valuation to 5 billion euros ($5.3 billion) in a secondary share round led by Alphabet 's venture fund and Sequoia Capital. "The reason everybody [has] failed [in this market] is that it's quite complex," Pinckaers told CNBC. The last time Odoo secured primary funding was in 2014, when it raised $10 million in a Series B round. Prior to the latest secondary round, Odoo was most recently valued by investors at 3.2 billion euros.

Persons: Fabien Pinckaers, Odoo, Pinckaers, Andrew Reed, Reed, He's, Billings, aren't, Alex Nichols, CapitalG, he's, bootstrapping, Odoo hasn't, Wallonie Organizations: Belgian, SAP, Sequoia Capital, CNBC, Enterprise, Sequoia, Summit Partners Locations: Belgium, India, billings, Sequoia

☆ Seven & i shares surge on report its founding family is raising over $50 billion to take the firm private
▼ + stars: | 2024-11-20 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Shares of 7-Eleven owner Seven & i soared nearly 11% on Wednesday after a report said the company's founding family was raising more than $50 billion to take the company private within this fiscal year. According to a report by Japanese public broadcaster NHK, the founding family will raise over 8 trillion yen ($51.66 billion) from "three Japanese megabanks and major American financial institutions," according to a Google translation of the report in Japanese. Should this acquisition go through, it will be the largest buyout of a Japanese company to date, NHK said. Seven and i said "no decision has been made regarding a proposed deal with Junro Ito, Ito Kogyo, ACT [Alimentation Couche-Tard] or other third parties at this time," Reuters reported. Junro Ito is Seven & i's vice president and the son of late Masatoshi Ito, founder of Seven & i. Ito-Kogyo is a company affiliated with the vice president, and is Seven and i's second-largest stakeholder with an 8.2% stake.

Persons: Junro Ito, Ito Kogyo, Masatoshi Ito, Ito, Tard Organizations: NHK, Seven, ACT, Reuters

☆ Sherman: Comcast is the first to spin off cable networks
▼ + stars: | 2024-11-20 | 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 EmailSherman: Comcast is the first to spin off cable networksAlex Sherman, CNBC Media & Sports Reporter, discusses Comcast's plan to spin off its cable networks, including CNBC. He explains that this move is a test for the media industry as Comcast focuses on profitable assets like Peacock and Bravo, while the new cable company may be rolled up with other networks or sold to private equity due to the declining future of cable.

Persons: Alex Sherman, Peacock, Bravo Organizations: Sherman, Comcast, CNBC Media, Sports, CNBC

☆ I went to law school in Mexico and an Ivy League in the US. It was cheaper and easier to make friends in Mexico.
▼ + stars: | 2024-11-20 | by ( Santiago Barraza Lopez | ) www.businessinsider.com time to read: +6 min

AdvertisementI first went to law school in Mexico, where people were more open to friendships. However, the top three global financial hubs (New York, London, and Singapore) belong to common law countries. The US has a common law system, meaning that laws come from uncodified case law resulting from court decisions. Law schools in Mexico take a more theoretical approach, while law schools in the US focus on the practical side. In my case, both law schools made sure we acknowledged this in order to understand how useful we can be.

Persons: — Organizations: Columbia, Universidad Iberoamericana, Columbia University, US, Law Locations: Mexico, Europe, Asia, South America, Africa, New York, London, Singapore

☆ Comcast's cable network spinoff may be a signal to the media industry for necessary change
▼ + stars: | 2024-11-20 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +3 min

Cable networks are still profitable, but they're hemorrhaging subscribers and revenue every year as Americans cancel traditional pay TV for streaming services. Still, Disney's cable networks, including FX and Disney Channel, are more integrated with its streaming platforms than NBCUniversal's cable networks are with Peacock, the company's subscription streaming service. That may ultimately be where cable networks are heading — to private ownership willing to harvest them for cash. Another possible path for the spinoff is as a rollup entity for other cable networks. Discovery's debt and its cable networks.

Persons: It's, Peacock, Mark Lazarus Organizations: Comcast, Investors, Cable, Disney, FX, Disney Channel, SpinCo's, CNBC, MSNBC, Warner Bros, Paramount Global Locations: Peacock

☆ Manulife Investment Management's top plays in India
▼ + stars: | 2024-11-20 | 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 EmailManulife Investment Management's top plays in IndiaManulife Investment Management's Rana Gupta likes large private sector banks as they remain profitable, and quick commerce companies that managed to defy a poor consumer season. He does see a risk of foreign promoters selling IPOs in India and cashing out, causing capital outflows.

Persons: Investment Management's Rana Gupta Organizations: Investment Locations: India, outflows

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