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☆ RFK Jr. is Trump's pick to lead HHS — here's what he could do with that power
▼ + stars: | 2024-11-19 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +13 min

Kennedy will likely have some influence over who the president-elect chooses for those roles, health policy experts said. Ultimately, Kennedy's influence over immunization policy could lead to an increase in diseases preventable by vaccines, several health policy experts told CNBC. Investors are already bracing for a crackdown on food policy, with shares of processed food companies, such as Pepsi and Coca-Cola , falling on Friday. Seigerman said "there is little precedent in recent history for HHS policy dictating or affecting FDA regulation or approval of drugs." In 2023, pharmaceutical companies spent nearly $3 billion on advertising for the 10 most promoted drugs.

Persons: Robert F, Kennedy Jr, Thomas Machowicz, Donald Trump, Kennedy, Trump, trifecta, Spokespeople, Brandon Guerrero, Christina House, Gostin, Josh Michaud, Lawrence Gostin, Michaud, he's, Genevieve Kanter, Kanter, Covid, Richard Frank, Frank, Evan Seigerman, Seigerman, Dave Latshaw, Latshaw, Drugmakers, Joe Biden's, Amy Campbell Organizations: Reuters, Department of Health, Human Services, Republican, HHS, Affordable, Food and Drug Administration, Centers for Disease Control, National Institutes of Health, Centers, Medicare, Services, CNBC, CVS, Los Angeles Times, Getty, Health Defense, NBC News, FDA, NPR, Georgetown University, CDC, Vaccines, Children, Kennedy, NIH, University of Southern, Brookings Schaeffer Initiative, Health, pharma, RFK, BMO Capital, Pepsi, Trump, University of Illinois Chicago School of Law Locations: Phoenix , Arizona, U.S, Compton, Huntington Park, Kennedy ., University of Southern California

☆ Elon Musk and Vivek Ramaswamy want to 'delete' parts of the US government. It won't be easy.
▼ + stars: | 2024-11-19 | by ( Alice Tecotzky | John L. Dorman | ) www.businessinsider.com time to read: +7 min

AdvertisementElon Musk and Vivek Ramaswamy are set to co-lead the DOGE in President-elect Trump's second term. In their roles as co-leaders of the forthcoming Department of Government Efficiency, Elon Musk and Vivek Ramaswamy have vowed to "delete" government agencies, much like a line of code. "Or does it mean that a different federal agency will assume the responsibilities of collecting income taxes?" Allison Robbert-Pool/Getty Images"The president can't 'delete' departments — or even almost all of government's subunits. Kettl said that any effort to delete the functions of a department is "an even bigger battle" than trying to delete a department itself.

Persons: Elon Musk, Vivek Ramaswamy, Trump's, Ron DeSantis, Kevin Kosar, DOGE's, Ramaswamy, Donald Trump, Mordecai Lee, aren't, haven't, Kosar, Allison Robbert, Donald Kettl, Elaine Kamarck, Bill Clinton, Kamarck, Kettl, Lee, they've, nix, it's Organizations: Republicans, of Government Efficiency, Elon, Florida Gov, American Enterprise Institute, Fox News, Internal Revenue Service, Federal Bureau of Investigations, Alcohol, Firearms, Tobacco, Department of Education, University of Wisconsin -, Trump, Republican, University of Maryland, Brookings Institute, of Education, Farmers, of Agriculture, USDA, Conservative Locations: Florida, University of Wisconsin - Milwaukee

Andrew Harnik | Getty ImagesPresident-elect Donald Trump's return to the White House is poised to have big impacts on consumer health care. CMS, in turn, administers the Affordable Care Act marketplace and the Children's Health Insurance Program (CHIP), among other endeavors. A spokesperson for Trump's transition team did not respond to a request from CNBC for comment about the President-elect's health policy plans. Still, it's a 'big' gamble to forgo health insurance Around 3.8 million people will lose their health insurance if the subsidies expire, the Congressional Budget Office estimates. Short-term health insurance plans offer coverage for limited amounts of time, and typically on fewer medical services than comprehensive coverage.

Persons: Donald Trump, Andrew Harnik, Donald Trump's, Michael Sparer, Sparer, Trump, Robert F, Kennedy Jr, Kennedy, who's, Mario Tama, Cynthia Cox, I'd, Cox, Sabrina Corlette, Georgetown University's, Corlette, Carolyn McClanahan, Larry Levitt, Levitt, enrollee, they're, Yasin Ozturk, Biden, It's, — Organizations: Base Andrews, Getty, Affordable, Trump, Republican, Columbia University, of Health Policy, Management, of Health, Human Services, Medicare, Services, CMS, Children's Health Insurance, Washington Post, The Washington Post, CNBC, Providence St, Mary Medical Center, Finance, American, ACA, Cox, Congressional, Office, Republicans, Center, Health, Georgetown, Georgetown University's McCourt School of Public, Planning Partners, Medicaid, Social Security, Maskot, of Columbia, U.S, Capitol, Washington , D.C, Anadolu Agency, GOP, Corlette, pharma, Centers Locations: Base Andrews , Maryland, U.S, Duluth, Apple Valley , California, Jacksonville , Florida, Washington ,

Thailand's same-sex marriage legislation, scheduled to come into effect in January 2025, could attract an additional 4 million tourists to the country per year, according to a report commissioned by the travel company Agoda. The report published Thursday estimates the country's marriage equality law may increase tourism arrivals by 10%, netting the country an extra $2 billion in tourism revenue per year, within two years. Arrivals are expected to come, not only from same-sex couples and their wedding guests, but from the broader LGBTQ community and beyond. The new law will make Thailand the third place in Asia to allow same-same marriage, following Taiwan in 2019 and, on a more limited basis, Nepal in 2023. The law is also set to grant same-sex couples rights related to child adoption, health care and inheritance.

Organizations: Thailand's Tourism Industry, Partnership Locations: Thailand, Asia, Taiwan, Nepal

☆ Number of older adults who lost $100,000 or more to fraud has tripled since 2020, FTC says
▼ + stars: | 2024-11-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

In 2023, about 4,600 adults age 60 and older reported being defrauded of a six-figure sum, according to a report the FTC issued in October. Such thefts can be especially devastating to older adults, who have less opportunity to earn back what they've lost, greatly impacting their quality of life in old age, experts said. Common scams targeting older AmericansConsumers overall lost $10 billion to scams in 2023, a record high, according to the FTC. Older adults were 60% more likely than younger ones to report losses exceeding $100,000 last year, according to the FTC. Criminals commonly stole such vast sums from older adults via romance scams, investment frauds and imposter scams, the FTC said.

Persons: Karl, Josef Hildenbrand, That's, they've, John Breyault, Breyault, Crypto Organizations: Getty, Federal Trade Commission, National Consumers League, FTC, Finance, A.I, underreporting, Gallup, Microsoft, Publishers Clearing, Social Security Administration, Federal Bureau of Investigation, FBI

☆ What the next Trump presidency could mean for US education
▼ + stars: | 2024-11-17 | by ( Katie Lobosco | Devan Cole | ) edition.cnn.com time to read: +12 min

Here are some of the things Trump has pledged and how or whether they could become reality:Abolishing the Department of EducationPledge: Trump has repeatedly said he will close the federal Department of Education, sending authority over education back to the states and saving taxpayer dollars. Trump has distanced himself from the policy paper, but a CNN review found that at least 140 people who worked in the first Trump administration were involved. How it could be done: It’s not clear how the Trump administration could achieve these goals. But the new Trump administration could set certain requirements that schools must meet to receive federal funding. The Trump administration could decide to rescind the repayment plan, which was created by a regulatory process.

Persons: Donald Trump, ”, “, Trump, Joe Biden, Betsy DeVos, Robert Enlow, Brian Snyder, ” Trump, Derrell Bradford, Biden, it’s, It’s, Vanessa Kelly, Thomas Toch, Georgetown University’s, ” Toch, Gene J, –, doesn’t, Congress –, Trump’s, Obama Organizations: Washington CNN —, ”, Department of Education, of Education, Education, Labor, Department of Health, Human Services, Heritage Foundation, CNN, of Education’s, Civil Rights, Department of Justice, Department of Treasury, Base Andrews, Reuters Universal, Trump, Vance, “, Fox Business, Republican, Children, IX, GOP, Biden, Department, Justice, Georgetown, Georgetown University’s McCourt School of Public, Penn State University, 8th, Public, Congress Locations: Maryland, Washington

☆ Elon Musk downsized Big Tech. Can he do the same to Big Government?
▼ + stars: | 2024-11-17 | by ( Amanda Hoover | ) www.businessinsider.com time to read: +11 min

And to run the new cost-cutting department, Trump tapped the businessman he calls the world's "greatest cutter" — Elon Musk. If you're looking to take a chainsaw to the federal government, Musk seems perfectly suited to the job. When it comes to federal spending, one person's waste is another person's bread and butter. And his massive investments in electric vehicles and social media are dependent on all sorts of federal spending and oversight. Musk has acknowledged that Americans will feel "hardship" as a result of the cuts he wants to see implemented.

Persons: Donald Trump, Trump, Elon Musk, Musk, cochair, Vivek Ramaswamy, Ronald Reagan —, There's, Michael Morris, Morris, it's, Andy Wu, Linda Bilmes, Ronald Reagan, Joel Friedman, Brian Hughes, DOGE, Reagan, Ramaswamy, It's, Sam, Uncle, Elon Organizations: Department of Government, Twitter, Tesla, SpaceX, Defense Department, IRS, Columbia Business School, Harvard Business School, Government, Harvard Kennedy School, Office, GAO, Fox News, Budget, Federal Aviation Administration, Veterans Administration, — Locations: Ecuador, Independence

☆ Why Trump and Elon Musk want key administration officials to be confirmed without a floor vote
▼ + stars: | 2024-11-16 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +7 min

AdvertisementDonald Trump wants the next GOP senate leader to give him greater power to staff vacancies. Trump wants to use the president's recess appointment power in a major way. Like Trump, Musk is a big believer in flexing the recess appointment power. Related storiesIn his push for recess appointment power, Trump argued it was about ensuring he could staff up in a timely manner. Officials installed via recess appointment can only serve until Congress' next session.

Persons: Donald Trump, Trump, Elon Musk, Matt Gaetz, Robert F, Kennedy Jr, It's, Casey Burgat, Sen, John Thune of, Mitch McConnell of, Thune, Bret Baier, JD Vance's, Ronald Reagan's, hasn't, Kennedy, Sarah Binder, George W, Bush, John Bolton, Don McGahn, McGahn, Ed Whelan, Whelan, Burgat Organizations: White, Trump, Human Services, GOP, Legislative, George Washington University's Graduate School of Political Management, Fox News, Republicans, Center, Biden, Brookings, United Nations, Public Policy Center Locations: Washington, Florida, John Thune of South Dakota, Mitch McConnell of Kentucky

☆ This new Goldman Sachs partner is leading the bank's strategy with young heirs and founders
▼ + stars: | 2024-11-15 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

Goldman Sachs named 95 partners last week, including private wealth exec Brittany Boals Moeller. AdvertisementBrittany Boals Moeller, one of Goldman Sachs' newly minted partners, didn't picture a career in finance when she joined the bank 17 years ago. The 39-year-old is based in Atlanta and runs the Southeast region of Goldman Sach's private wealth division. While wealth management clients skew older, the division has a pipeline of rich millennial founders who work with the investment banking arm. Goldman Sachs' family office offering, Apex, launched a few years later.

Persons: Goldman Sachs, Brittany Boals Moeller, —, I've, Goldman, Boals Moeller, John Mallory, Tucker York, Ciara, Marc, Kwesi Farrell, John Paul DeJoria, Michelle Hynik, It's Organizations: Service, New York University, Goldman, Catering, Utah Royals, Advisors Locations: Jonesboro , Arkansas, Atlanta, Apex, Deer Valley, Copenhagen, Deer

☆ Trump victory may give TikTok a lifeline to remain in the U.S.
▼ + stars: | 2024-11-14 | by ( Jonathan Vanian | Jonathan Vanian Is A Technology Reporter For Cnbc.Com | ) www.nbcnews.com time to read: +6 min

In April, President Joe Biden signed a law that requires China’s ByteDance to sell TikTok by Jan. 19. Although both Republicans and Democrats supported the Biden TikTok ban in April, Trump voiced opposition to the ban during his candidacy. At TikTok, meanwhile, Chew has remained quiet since Trump’s victory, just as he had been in the lead-up to Election Day. In his March interview with “Squawk Box,” Trump said Meta, which owns Facebook and Instagram, posed a much bigger problem than TikTok. Since launching his TikTok account in June, Trump has amassed over 14 million followers.

Persons: Donald Trump, Tim Cook, Meta’s Mark Zuckerberg, Jeff Bezos, Shou Zi Chew, Joe Biden, Jan, Trump’s, Trump, CNBC’s, “, Kamala Harris, “ We’re, Trump hasn’t, Vance, Karoline Leavitt, ” Leavitt, TikTok, Jeff Yass, Sarah Kreps, Chew, Long Le, Le, “ He’s, ” Le, ” TikTok, ” Trump, ”, Mark Zuckerberg, Cornell’s Kreps, Zuckerberg, ” Kreps, ” Meta, Milton Mueller, ” Mueller, Sen, Rand Paul, “ They’re, he’s Organizations: U.S, U.S ., Apple, Google, White, Democrats, Biden, Trump, Democratic, CNBC, Republican, Susquehanna International Group, NBC, Cornell University, Santa Clara University, Facebook, Meta, Georgia Tech’s School of Public Locations: U.S, Chew, TikTok, ByteDance, Yass, China, Ky

☆ Tech giants are investing in 'sovereign AI' to help Europe cut its dependence on the U.S.
▼ + stars: | 2024-11-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

Sovereign AI is "more driven by the industry naming it that, than it is from the policymakers' side," Gow said. On Wednesday, Denmark laid out a landmark white paper outlining how companies can use AI in compliance with the incoming EU AI Act — the world's first major AI law. How regulation fueled a mindset shiftThat's not to say regulations haven't proven an important factor in getting tech giants to think more about building localized AI infrastructure within Europe. The concept of AI sovereignty is also getting buy-in from local European tech firms. Orange hasn't yet selected a partner for these sovereign AI model ambitions.

Persons: Dado Ruvic, Chris Gow, Anthropic's Claude, Filippo Sanesi, Sanesi, hasn't, —, Cisco's Gow, Rather, " Gow, Gow, It's, David Hogan, Hogan, OVHCloud's Sanesi, Qwant, Bruno Zerbib, Zerbib Organizations: Reuters, Portugal — Tech, CNBC, Data, of Justice, EU, General Data Protection, U.S, Sovereign, Nvidia, Orange Locations: Reuters LISBON, Portugal, Brussels, U.S, Europe, OVHCloud, Italy, Italia, Denmark, Berlin, Paris, French

☆ Countries and companies are repositioning themselves for a new Washington order: Sarah Bianchi
▼ + stars: | 2024-11-11 | 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 EmailCountries and companies are repositioning themselves for a new Washington order: Sarah BianchiSarah Bianchi, Evercore ISI chief strategist of international political affairs and public policy, joins 'Squawk Box' to discuss President-elect Trump's election victory, the realignment within the Republican party, impact trade and foreign policy, and more.

Persons: Sarah Bianchi Sarah Bianchi, Evercore, Trump's Organizations: Republican Locations: Washington

☆ 4 ways Trump’s mass deportation plans could hurt your finances
▼ + stars: | 2024-11-11 | by ( Auzinea Bacon | ) edition.cnn.com time to read: +4 min

By contrast, that projected growth would take a hit if Trump were able to enact his mass deportation plans. An estimated 11 million unauthorized immigrants reside in the United States, but Trump’s focus has mostly been on deporting immigrants with criminal records. Goldman Sachs reported in June that it estimates about 1.2 million unauthorized immigrants, or 8% of that population, have criminal convictions. Here’s the financial impact for Americans if Trump follows through on his mass deportation plan. The report noted that inflation could peak at 0.5 percentage points higher under a mass deportation plan.

Persons: Donald Trump, Trump, Goldman Sachs Organizations: CNN, White, Congressional, University of New Hampshire Carsey School of Public Policy, Brookings Institute, US, American Immigration, Social Security, Trump, NBC News, US Immigration, Customs Enforcement, ICE Locations: America, United States

☆ As Australia puts more focus on climate change, New Zealand is accused of pulling back
▼ + stars: | 2024-11-10 | by ( Mahalia Dobson | ) www.nbcnews.com time to read: +4 min

Two major countries’ approach to climate change has turned upside down Down Under. Critics argue that both countries are falling short as they head to this year’s United Nations Climate Change Conference, or COP29, which starts Monday in Azerbaijan. “Standing shoulder to shoulder with Pacific Island nations seems not to mean doing anything Pacific Island leaders have asked,” Hemming said. Albanese’s office and the office of his minister for climate change and energy, Chris Bowen, did not respond to requests for comment. Australia came in for special criticism last month at the Commonwealth Heads of Government Meeting in the Pacific Island nation of Samoa.

Persons: ”, Anthony Albanese, Christopher Luxon, Jacinda Ardern, Luxon, “, Antonio Guterres, Manaui Faulalo, “ We’re, Ralph Sims, ” Sarah Clement, Albanese, Penny Wong, Polly Hemming, ” Hemming, Chris Bowen, Wong Organizations: United Nations, Labor, Conservative, Radio, Getty, Organization for Economic Cooperation, Development, Massey University, Change, Australian National University, Australia Institute, Commonwealth Locations: Australia, New Zealand, South Pacific, Asia, Pacific, Palau, Tuvalu, Kiribati, Anthony Albanese . New Zealand, Samoa’s, AFP, Azerbaijan, Samoa, Vanuatu, Fiji, Canada, Britain

WASHINGTON — As a candidate, Donald Trump promised to relieve consumers of high interest rates. Trump repeatedly said during the campaign that he would bring down interest rates without elaborating on how. He has suggested the president should have a say in determining rates set by the Federal Reserve and publicly berated the central bank and its chairman, Jerome Powell, for not lowering rates sooner. Trump has no direct control over the interest rates set by the Federal Reserve, which is determined by a committee that includes seven members appointed to 14-year terms along with five regional Reserve Bank presidents. “There aren’t a lot of policies that the president has at his disposal that can really lower rates,” said McLaughlin.

Persons: Donald Trump, Trump, Jerome Powell, ”, Kent Smetters, “, isn’t, Ralph McLaughlin, McLaughlin, Powell, Xi Jinping, ” Powell, he’s, ” Trump, reappoint Powell, Scott Bessent, Barron’s, Bessent Organizations: WASHINGTON, Federal Reserve, United, University of Pennsylvania Wharton School, Federal, Realtor.com, Reserve Bank, Fed’s, Governors, Twitter, Trump, Chicago Economic, Senate, Republicans, Fed Locations: United States, America, U.S, China

☆ California took a surprisingly red turn on key issues, upending its ultraliberal reputation
▼ + stars: | 2024-11-09 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

Landlords, realtors, and some pro-housing groups opposed the measure, but the California Democratic Party, tenant groups, and some unions supported it. California voters did, however, vote to enshrine a state constitutional right to marry regardless of sex or race and to issue bonds for natural resource conservation. Related storiesThough Lurie is a Democrat, he received the support of some Republican groups in San Francisco who have criticized Breed's handling of crime, drug use, and homelessness in the city. AdvertisementOther signs California was turning more redBefore Election Day, there were some signs the state's electorate had shifted to the right. California is still tallying its votes, so exactly how much the presidential vote changed from 2020 to 2024 is unclear.

Persons: —, Elon Musk, Donald Trump, Kamala Harris, Gavin Newsom's, Voters, Allen J, Incumbent San Francisco Mayor London Breed, Daniel Lurie, Lurie, Levi Strauss, Mark Farrell, George Gascón, Gascón, Nathan Hochman, Harris, Joe Biden Organizations: Service, Democratic, SpaceX, Republican, Trump, State, Democratic Gov, realtors, California Democratic Party, Los Angeles Times, Getty, Incumbent San Francisco Mayor London, Democrat, The San Francisco Republican, Los, Public, Institute of California Locations: California, Texas, Coachella, San Francisco, The, Los Angeles County, Los Angeles, Illinois , New Jersey , New York , Connecticut, Maryland

☆ Elon Musk's wealth soars past $300 billion as Tesla shares climb on the back of Trump's election win
▼ + stars: | 2024-11-09 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

Elon Musk's net worth has soared past $300 billion, according to the Bloomberg Billionaires Index. It comes off the back of big stock market gains for Tesla following Trump's election win. AdvertisementElon Musk's net worth has surged past $300 billion as Tesla shares climbed following Trump's election win earlier this week. Musk's fortune stands at $314 billion as of Saturday, up a handsome $50 billion since November 5, according to the Bloomberg Billionaires Index. Musk's other ventures, such as his aerospace company SpaceX, could also benefit during Trump's second term in office.

Persons: Elon, Tesla, —, Jeff Bezos, Mark Zuckerberg, Musk, Dan Ives, Ives, Francesco Trebbi, Trump Organizations: Bloomberg, Tesla, Service, Elon, Trump, EV, SpaceX, University of California, Department of Defense Locations: China, Berkeley

☆ Forget swing states. Here's how the generations flipped on Election Day.
▼ + stars: | 2024-11-09 | by ( Noah Sheidlower | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Gen X and younger voters shifted right in recent polls, favoring Trump more than they did in 2020. Democrats lost a lot of ground with Gen Z, while Republicans won Gen X by a much wider margin than in 2020. Gen Z favored Vice President Kamala Harris by 11 points, compared to 24 points for President Joe Biden. Gen X already disapproved of Biden the most among generations, per late 2023 polling from NPR, PBS NewsHour, and Marist. Are you a Gen Z who shifted right or a boomer who shifted left?

Persons: X, Gen Xers, Joe Biden, —, Gen Z, Gen, millennials, Zers, Donald Trump, Kamala Harris, Millennials, Harris, Andrew Heyward, Trump, Joe Rogan, Jason Brennan, Brennan, Z's Gen, Gen X, Biden, Amy Walter Organizations: Trump, Service, Democrats, Republicans, Democratic, Boomers, Gallup, Walton Family Foundation, CBS News, New York Times, GOP, Georgetown University's McDonough School of Business, NPR, PBS, Marist, jkaplan

☆ Aging expert reveals the blueprint for a better life after 50
▼ + stars: | 2024-11-07 | by ( Terry Ward | ) edition.cnn.com time to read: +9 min

On the cusp of her 50th birthday, aging expert Debra Whitman had questions. CNN: What else contributes to healthy aging? We, as a country, need to prepare for an aging population so that everyone can live a long and healthy life. Author and aging expert Debra Whitman speaks at CareFest at UCLA on November 2, 2023. I want to live a long and healthy life through my “second 50.” So doing those things now — to build up relationships, to build up values — really matters.

Persons: Will, Debra Whitman, healthily, ”, Whitman, Debra Whitman's, “, they’re, Katie Williams, ” she’d, Katie, it’s, They’ve, Robert Waldinger, Diane Meier, Deb, Meier, can’t, Phillip Faraone, Terry Ward Organizations: CNN’s, CNN, US, Aging, Pew Research, AARP, Academies, Kiwi, —, Harvard, CareFest, UCLA Locations: Singapore, Zealand, Rotorua, New Zealand, Tampa

LGBT voters shifted even more solidly into the Democratic camp this year, according to the NBC News Exit Poll. Harris led President-elect Trump 86% to 12% among LGBT voters, the poll found. As in previous elections, LGBT voters stood out as one of the most left-leaning voter blocs in the electorate. Among LGBT voters, Democrats vastly outnumber Republicans, 56% to 5%, and liberals surpass conservatives, 61% to 5%. LGBT voters are staunchly pro-choice: 59% say abortion should be legal in all cases, a much higher level of support for abortion rights than among non-LGBTs, at 31%.

Persons: Donald Trump, Kamala Harris, Harris, Trump, Sen, JD Vance, they’d, Barack Obama Organizations: NBC News, Democratic, NBC, Trump, Biden, Republican, GOP, LGBT

☆ Elon Musk wins big by betting on Trump
▼ + stars: | 2024-11-06 | by ( Ana Altchek | ) www.businessinsider.com time to read: +6 min

Elon Musk used his money, power, and influence to help reelect former President Donald Trump. Musk has spent months strengthening his ties to Trump, using his platform on X to advocate for him and investing over $130 million in pro-Trump efforts. Some suggested Musk's actions might be a risk-hedging strategy to secure Trump's backing if he wins. AdvertisementWhat a Trump win means for Musk's business empireAside from direct influence within the government, a Trump presidency could lead to a lot of wins for Musk's business empire, which includes Tesla, SpaceX, The Boring Company, Neuralink, and X. Coglianese said Musk was also "banking on a president who will want to or be willing to repay Musk for his loyalty."

Persons: Elon Musk, Donald Trump, Trump, Musk, —, Elon, Cary Coglianese, Erik Gordon, Gordon, Francesco Trebbi, Karoline Leavitt, Coglianese, it's, Carl Icahn, Icahn, Joan MacLeod Heminway, Heminway Organizations: Service, Trump, Business, Penn, University of Pennsylvania, University of Michigan's Ross School of Business, Department of Government, Securities and Exchange Commission, Twitter, SpaceX, The Boring Company, Tesla, University of California, Department of Defense, Environmental Protection Agency, University of Tennessee Locations: Pittsburgh, Pennsylvania, Texas, California, University of California Berkeley

☆ Trump says he will give RFK Jr. a major health role if he wins the White House. Here's what that means for patients, drugmakers
▼ + stars: | 2024-11-05 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +10 min

Some health experts said elevating Kennedy, even in an informal Trump administration position, could potentially lead to severe consequences for patients, drugmakers and the nation's public health overall. That could exacerbate the nation's existing public health challenges, such as declining childhood vaccination rates for several preventable diseases, some experts say. "I think we could reasonably predict that there would be a decline in vaccination rates among children, and perhaps vaccination overall." Drugmakers such as Pfizer and Moderna are still recovering from falling Covid vaccination rates in the U.S., which have dented their profits over the last two years. Kennedy's other proposals for overhauling federal health agencies will likely be difficult to execute.

Persons: Donald Trump, Robert F, Kennedy Jr, Anna Moneymaker, Kennedy, Trump, Dr, Paul Offit, Drew Altman, Altman, Genevieve Kanter, Cynthia Blancas, Deep Patel, Christina House, they've, Offit, Andrew Kelly, USC's Kanter, that's, Georges Benjamin, Covid, Kanter Organizations: Gas, Getty, White House, Trump, Children's Hospital of Philadelphia, CNBC, and Drug Administration, Centers for Disease Control, Commonwealth Fund, Senate, Washington Post, University of Southern, CVS, Los Angeles Times, CDC, Pfizer, Moderna, NBC, Health Defense, FDA, Department of Health, Human Services, U.S . Food, Drug Administration, Reuters, American Public Health Association, Pharma Locations: Duluth , Georgia, U.S, University of Southern California, Lynwood, Huntington Park, Samoa, White Oak , Maryland

☆ Coinbase's big election bet is about to be tested
▼ + stars: | 2024-11-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +9 min

BlackRock's ETF chief Samara Cohen told CNBC that 75% of its bitcoin buyers are crypto investors who are new to Wall Street. Grewal told CNBC that he's had "many conversations" behind closed doors with both the Trump camp as well as Democratic Vice President Kamala Harris' campaign. Fairshake, one of the top spending PACs this cycle, told CNBC it's raised around $170 million this election and disbursed approximately $135 million. Ripple's head of U.S. public policy, Lauren Belive, told CNBC at a fintech conference in Las Vegas that the company was motivated by the SEC's overreach. WATCH: Bitcoin slumps to $67,000 level on eve of U.S. election: CNBC Crypto World

Persons: WASHINGTON —, Brian Armstrong shied, Armstrong, Coinbase, Gary Gensler, vociferously, Samara Cohen, Wells, Paul Grewal, Donald Trump, David Sacks, Grewal, Trump, he's, Gensler, Kamala Harris, Harris, Sen, Sherrod Brown, Bernie Moreno, Brown, Moreno, battlegrounds, It's, Shirzad, CNBC it's, Lauren, Alice, merch, Joe Lubin, Wiley Nickel Organizations: WASHINGTON, Capitol, CNBC, SEC, Washington, Trump, Republican, Democratic, Crypto Alliance, House, Ohio Senate, Crypto, Labs Locations: Washington ,, Washington, United States, San Francisco, Nashville, Ohio, Las Vegas

☆ Morgan Stanley's Zezas: Stocks may not benefit from a Republican win the same way they did in 2016
▼ + stars: | 2024-11-05 | 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 EmailMorgan Stanley's Zezas: Stocks may not benefit from a Republican win the same way they did in 2016Michael Zezas, Morgan Stanley head of U.S. public policy research, joins CNBC's 'Squawk on the Street' to discuss how stocks may react to a Republican vs. Democratic win, policy expectations for both candidates, and more.

Persons: Morgan Stanley's Zezas, Michael Zezas, Morgan Stanley Organizations: Republican, Democratic

☆ Whoever wins Pennsylvania will win this election, says Evercore ISI's Sarah Bianchi
▼ + stars: | 2024-11-05 | 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 EmailWhoever wins Pennsylvania will win this election, says Evercore ISI's Sarah BianchiSarah Bianchi, Evercore ISI chief strategist of international political affairs and public policy, joins 'Squawk Box' to discuss the state of the 2024 election, what to watch for in tonight's election results, and more.

Persons: Evercore, Sarah Bianchi Sarah Bianchi Organizations: Pennsylvania

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