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☆ Vance debuts new role as Trump’s point person on Capitol Hill
▼ + stars: | 2024-11-21 | by ( Alayna Treene | Steve Contorno | ) edition.cnn.com time to read: +8 min

Congressional Republicans acknowledge that Vance hasn’t necessarily developed longstanding relationships on Capitol Hill during his abbreviated time in Washington. His coattails turned a 49-51 senate to a 53-47 senate,” Vance wrote on X on Wednesday. The three developed a bond that predates the campaign and has carried into the early days of Trump’s transition. But when you look at the effectiveness of JD in the campaign, there’s no better surrogate for President Trump’s agenda,” the adviser said. “In JD’s view, his role of VP is to take on any issue that President Trump would like him to take on,” the person close to Vance told CNN.

Persons: JD Vance, Donald Trump’s, Vance, Matt Gaetz, he’ll, Pete Hegseth, Vance hasn’t, ”, North Dakota Sen, Kevin Cramer, Trump, “, Donald Trump, ” Cramer, ” Vance, “ Donald J, coattails, Joe Biden’s, Grace Chong, Steve Bannon’s, Chong, ” Trump, Tom Homan, ’, Tulsi Gabbard, Donald Trump Jr, —, Trump’s MAGA, Kamala Harris ’, JD, James Braid, “ Vance, you’ll, ” CNN’s Ted Barrett Organizations: CNN, Capitol, Trump’s Cabinet, Florida Rep, Fox News, Department of Defense, Senate, White, GOP, Cabinet, Trump, FBI, Republican, Democratic, Mar, Elon, JD, Central America —, “, White House Locations: Ohio, Washington, North Dakota, Central, Trump

☆ Who will build new homes in Trump’s America?
▼ + stars: | 2024-11-19 | by ( Samantha Delouya | Julia Vargas Jones | ) edition.cnn.com time to read: +9 min

Trump has said that undocumented immigrants share the blame for America’s once-in-a-generation home affordability crisis, but the president-elect’s deportation plans may backfire, driving up the cost of homebuying even further. There is a need for more construction workers, as well: There were 282,000 construction jobs open as of September, according to the Bureau of Labor Statistics. “Immigrant labor is really important for our ability to continue to build homes affordably,” said Tobin. More than one-third of construction workers in the labor force are foreign-born, according to the US Census Bureau’s 2023 American Community Survey. In some states, that share is much higher: In California, New Jersey and Texas, more than half of construction workers are immigrants.

Persons: CNN — Duewight Garcia overstayed, Garcia, ” Garcia, Donald Trump’s, Trump, America’s, Riordan Frost, Frost, ” Frost, Jim Tobin, ”, Tobin, “, Duewight Garcia, Edward Pinto, ” Pinto, Stan Marek, MAREK, it’s, ” Marek, Trump’s, Ohio Sen, JD Vance, ” Vance, Marek, they’re, Jennie Murray, ” CNN’s Tami Luhby Organizations: CNN, New, Joint Center for Housing Studies of Harvard University, National Association of Home Builders, Bureau of Labor Statistics, Pew Research, Survey, American, National Immigration Forum, Trump, Housing Center, American Enterprise Institute, Labor, The New York Times, National Immigration Locations: Honduras, New York City, America, California , New Jersey, Texas, New York, California, Wells Fargo, Houston

☆ How RFK Jr's war on obesity in the age of Ozempic could shake up the booming weight-loss industry
▼ + stars: | 2024-11-19 | by ( Rebecca Torrence | Hilary Brueck | ) www.businessinsider.com time to read: +9 min

Robert F. Kennedy Jr.'s proposed appointment to lead the US Department of Health and Human Services could have big consequences for a booming weight-loss market. AdvertisementHis likely appointment comes at a pivotal moment for the weight-loss industry, as long-lasting shortages of drugs like Ozempic come to an end. When Farmbox launched in 2014 to deliver healthy food boxes and educate consumers about nutrition, "nobody wanted to invest in us," Tyrner-Dolce said. Doug Mills-Pool/Getty ImagesKennedy's crusade against Big Food could run up against Trump's pro-corporation agenda, though. AdvertisementWeight-loss companies could get more attention — at a costKennedy's focus on holistic chronic disease care, including obesity care, could see a renewed funding rush to the space.

Persons: Trump, Robert F, Kennedy Jr, Kennedy, he's, Obama, Ashley Tyrner, Dolce, Farmbox, FarmboxRx, Michelle Obama, SAUL LOEB, Kennedy's, Jeff Nobbs, Nobbs, Doug Mills, Elon Musk, Donald Trump Jr, podcaster Joe Polish, Brooke Boyarsky Pratt, There's, Knownwell Pratt, Pratt, John Stanford Organizations: Human Services, US Department of Health, National Institutes of Health, Food and Drug Administration, Trump, Big Pharma, Senate, Novo Nordisk, Centers, Medicare, Services, Getty, Street, Department of Health, US Department of Agriculture, Shack, Business, Big Food, Trump's, KFC, McDonald's, Fox, FDA, Moderna Locations: Pennsylvania, Washington

“My position in society, my nationality, is not sure, never sure, no matter what generation I am,” he told NBC News over the phone. “These boys and girls are fully aware of the current political climate,” he told NBC News. “Politicians should try to unite people instead of fueling polarization,” he told NBC News. “Amsterdam should be ashamed,” he said of the violence surrounding the the soccer game. “Apparently a Cabinet meeting is a comfortable place for these people to say their racist thoughts out loud,” Taibi said.

Persons: ”, “, Taibi, can’t, Bram Beute, Schoof, Wilders, Francesca Albanese, Bert Klandermans, Steven Silvester, ” Silvester, Muhsin Köktas, Ruben Vis, ” Taibi, Freddie Clayton, Martijn van Delft Organizations: NBC News, United Nations Human Rights, “, Vrije University, stoke, NBC, Centraal Locations: Amsterdam’s, Muslim Nieuw, West, Europe, France, Austria, Germany, Netherlands, Gaza, Amsterdam, Nieuw, Dutch, “ Amsterdam, London, Rijnsburg

The Summary Trump plans to tap Robert F. Kennedy Jr. to be his health and human services secretary. Kennedy has spread misinformation about vaccines, fluoride, raw milk and other topics. Kennedy has also referred to the Covid vaccine as “the deadliest vaccine ever made,” despite data showing it’s overwhelmingly safe. As many as 30 states allow raw milk to be sold, but the FDA regulates its sale across state lines. But Kennedy has cast doubt on those findings, claiming without evidence that the drugs were discredited because various groups stood to make money off Covid vaccines.

Persons: Trump, Robert F, Kennedy Jr, Kennedy, Donald Trump’s, ” Trump, Trump’s, Andrew Wakefield, “ I’m, ”, Howard Lutnick, glyphosate, hasn’t, haven’t, ivermectin, podcaster Joe Rogan, Elon Musk Organizations: NBC, Centers for Disease Control, FDA, National Institutes of Health, Medicare, Services, NBC News, Trump, CNN, CDC, European Union, International Agency for Research, Cancer, Environmental Protection Agency, American Academy of Pediatrics, National Cancer Institute

☆ ‘Just pure uncertainty.’ Small businesses are hopeful and fearful ahead of Trump’s second term
▼ + stars: | 2024-11-15 | by ( Alicia Wallace | ) edition.cnn.com time to read: +12 min

However, the post-election environment is hitting different this time around for many small business owners, such as Barrel-Art’s Michael Prieto, and leaving them wondering what comes next. For business owners who already were unsettled about the economy or its direction prior to the election, navigating the months and years ahead could be even more precarious, he added. Running leaner, hoping for cheaper moneyIn the months leading up to the election, Prieto was taking a wait-and-see approach. Michael Prieto, owner of Barrel-Art, in his shop in Newport News, VA, on November 13. Michael M. Santiago/Getty ImagesSmall business owners, by their nature, are optimistic, he said.

Persons: Michael Prieto, Donald Trump, John Arensmeyer, they’ve, ” Arensmeyer, “, ”, Art’s Prieto, Prieto, America ”, “ It’s, he’d, We’ve, Arensmeyer, Michael M, I’ve, Clifton Broumand, Janna Rodriguez, Rodriguez, she’d, can’t, JD Opel, he’s, ” Opel, ” JD Opel, — Opel, “ I’ve, Trump, Jeff Wood’s, ” Wood, we’ve, it’s, Marc Marcuse, Marcuse Organizations: CNN, Small, Economic, Shipping, Port, Getty, Machine, Corp, Opel, Reel Management, Management’s, Republican, White Locations: America, Newport News, Newark, New Jersey, China, Maryland, Freeport , New York, Evansville , Indiana, Jeff Wood’s Coldwater, Florida , Georgia, Utah, Pennsylvania, Los Angeles, Florida

☆ Bank of America says Trump's win will unlock small-cap M&A and these stocks may be takeover candidates
▼ + stars: | 2024-11-15 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

President-elect Donald Trump's White House victory could boost merger and acquisition activity, and Bank of America thinks a group of small-cap stocks may benefit as target candidates. Financial services company Bread Financial Holdings turned up, having a float of 98% of shares outstanding and three-year sales growth of 28%. The biopharmaceutical company has a float of 99% and three-year sales growth of 105%. Commercial Metals Company also showd up on BofA's screen as a potential target. Commercial Metal's three-year sales growth was 18%.

Persons: Donald Trump's, Russell, that's, Lina Khan, Jill Carey, Irving, steelmaker Organizations: Bank of America, Dow Jones Industrial, Republican, House, Senate, Trump, FTC, GOP, Financial, Bread Financial Holdings, Halozyme Therapeutics, Commercial Metals Company Locations: Columbus , Ohio, Diego, Texas

☆ I became CEO of a company that has helped millions of kids read—here's my no. 1 piece of career advice
▼ + stars: | 2024-11-15 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +9 min

Courtesy of Dr. Geetha Murali. Courtesy of Dr. Geetha Murali. "The human being, if given the basics... you are capable of so much more than you really think you are. Dr. Geetha Murali in Vietnam. Courtesy of Dr. Geetha Murali.

Persons: Geetha Murali, ” Murali, CNBC's, Read, Murali, —, Murali's, , wasn't, Michelle Obama, she's Organizations: UNESCO, CNBC, Indian Army, University of California, South Asian Studies, UC Berkeley Locations: New York, East, India, U.S, biostatistics, Berkeley, Vietnam

☆ Indiana ban on gender transition treatment for minors upheld by U.S. appeals court
▼ + stars: | 2024-11-14 | by ( ) www.nbcnews.com time to read: +3 min

Circuit Court of Appeals on Wednesday comes as the U.S. Supreme Court prepares to hear a challenge to a similar law in Tennessee, which may ultimately determine whether all such state laws around the country can be enforced. The plaintiffs argued that the law discriminated on the basis of sex by prohibiting certain treatments based on the patient’s sex. Circuit Judge Michael Brennan, writing for the majority, rejected both arguments. Brennan, who was appointed by Republican former president and now president-elect Donald Trump, was joined by Senior Circuit Judge Kenneth Ripple, an appointee of Republican former president Ronald Reagan. Circuit Court of Appeals, No.

Persons: Todd Rokita, ”, ’, Michael Brennan, Brennan, Donald Trump, Kenneth Ripple, Ronald Reagan, Candace Jackson, Akiwumi, Joe Biden, Helene White Organizations: Republican, U.S, Circuit, Supreme, Indiana, Hoosiers, American Civil Liberties Union, Senior, Democratic, Dissenting, American Academy of Pediatrics, of Indiana, 7th U.S Locations: Indiana, Tennessee, 7th

☆ The interest rate on my high-yield savings account keeps dropping. I asked 3 experts how to earn more on my cash.
▼ + stars: | 2024-11-12 | by ( Christine Ji | ) www.businessinsider.com time to read: +9 min

My bank has lowered the APY on my high-yield savings account by almost half a percent recently. AdvertisementIt's never pleasant to receive an email from your bank informing you that the interest rate on your high-yield savings account is decreasing. From August until the end of October, the annual percentage yield (APY) on my high-yield savings account has fallen from 4.6% to 4.2%. After paying off my bills every month, I would put the remainder of my paycheck into my high-yield savings account and watch the number creep up. Is there anything I can do about the state of my savings account, or do I have to watch my yield erode away slowly?

Persons: I'm, —, I've, Jerome Powell, Patti Black, it's, Jerome Powell's, Black, Daniel Milan, Milan, that's, Richard McHorter, There's, McHorter, Trump's, What's, Zer, Christine, cji Organizations: Service, Federal Reserve, Savant Wealth, Cornerstone Financial Services, SRM Private Wealth, Treasury Locations: Milan, California, New York City

☆ Taylor Swift's fans-first business strategy all goes back to a childhood interaction with LeAnn Rimes
▼ + stars: | 2024-11-12 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +9 min

In Rob Sheffield's new book about Taylor Swift, he recounts a story about her meeting LeAnn Rimes. AdvertisementThroughout her career, Taylor Swift has credited many fellow musicians as vital influences, from Joni Mitchell and Stevie Nicks to Kenny Chesney and, of course, Tim McGraw. But perched quietly atop that star-studded list is LeAnn Rimes. LeAnn Rimes performs on August 6, 2016 in London, England. AdvertisementOr, as Sheffield puts it, "LeAnn Rimes created a goddamn monster."

Persons: Rob Sheffield's, Taylor Swift, LeAnn Rimes, Swift, Rimes, —, Joni Mitchell, Stevie Nicks, Kenny Chesney, Tim McGraw, Rolling, Rob Sheffield, — Swift, Rimes superfan, Tim Ellis, Bill Mack, Taylor, Jo Hale, I've, hasn't, Sheffield, Kevin Mazur, Smokey Robinson, who've, Swift's Organizations: Service, NFL, New York Times, Sheffield, MySpace, Poets Department, Forbes Locations: Tennessee, West Reading , Pennsylvania, London, England, Mere, Vienna

☆ Morning-after pill sales surge online, telehealth companies say, as women prepare for second Trump term
▼ + stars: | 2024-11-12 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +6 min

At Wisp, which offers two types of emergency contraception online, sales of those medications went up about 1,000% in just one day after Tuesday’s election. “We are seeing women actually stockpile emergency contraception pills,” Cepak said. “When you attack one piece of reproductive health care, it really has a ripple effect,” Friedrich-Karnik said. “People who need abortion care often also at some point need contraception, and people who need contraception might eventually need maternal health care,” she said. “People’s lives are fluid like that, and this care is fluid, and you can’t attack one piece of reproductive health care without really impacting the whole range of care that people need.”

Persons: Donald Trump, Trump, Monica Cepak, “, ” Cepak, ”, Cynthia Plotch, it’s, ” Plotch, That’s what’s, It’s, ’ ”, Clayton Alfonso, ‘ I’ve, ’ ” Alfonso, Court’s Dobbs, Roe, Wade, Dr, Sanjay Gupta, Amy Friedrich, Karnik, ” Friedrich Organizations: CNN —, “, Winx, Duke Health, American College of Obstetricians, Trump, Heritage Foundation, Republican, CNN, CNN Health, Guttmacher Institute Locations: United States, North Carolina

☆ Canada's Labor Minister ends coast-to-coast port labor turmoil, forcing unions back to work
▼ + stars: | 2024-11-12 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Canadian Labor Minister Steven MacKinnon has invoked federal powers to end work stoppages at the ports of Vancouver, Prince Rupert and Montreal, ordering binding and final arbitration between labor unions and ports ownership. Strike actions by unions and ports ownership lockouts had hit both coasts of the key U.S. northern trade partner. "The lockouts of the Canadian ports were causing ships to divert and contributing to congestion and delays throughout North America. Under section 107 of the Canada Labor Code, the Labor Minister can order binding arbitration to end labor disputes. Existing collective agreements will remain in place pending a new deal being reached between dockworker unions and the ports.

Persons: Steven MacKinnon, Vancouver , Prince Rupert, Prince Rupert, Vancouver and Prince Rupert, Stephen Lamar, Lamar, MacKinnon, Mackinnon Organizations: Canadian Labor, Canadian, Retail Council, Canada, CNBC, Local, U.S . Department of Transportation, American Apparel & Footwear Association, U.S . West Coast, Canada Labor, Labor, Canadian Pacific Kansas City, Canadian National Railway Co, Canada Industrial Relations Locations: Vancouver, Montreal, U.S, United States, Canada, North America

☆ Trump wins stay in hush-money case, allowing him time to argue for its dismissal
▼ + stars: | 2024-11-12 | by ( Laura Italiano | ) www.businessinsider.com time to read: +3 min

President-elect Donald Trump on Tuesday won a stay of deadlines in his hush-money case. Trump was to learn Tuesday if the case is dismissed, and if not be sentenced next week. AdvertisementOne week from sentencing, President-elect Donald Trump has won at least a temporary stay in his criminal hush-money case. On Friday, the judge in the Washington, DC-based election-interference case similarly froze all deadlines until at least December 2 on agreement with the special counsel. AdvertisementIn the hush-money case, two pending deadlines are now at least temporarily wiped from the calendar.

Persons: Donald Trump, Trump, —, Juan Merchan, Attorney Alvin Bragg, Jack Smith, Fani Willis, Fulton County , Georgia —, Smith, Merchan Organizations: Tuesday, Service, New, Prosecutors, Attorney Locations: Manhattan, Fulton County , Georgia, Washington, DC, Florida

☆ Expect new stablecoins based on other fiat currencies and for the market to expand: Ripple
▼ + 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 EmailExpect new stablecoins based on other fiat currencies and for the market to expand: RippleMonica Long of Ripple says the payments use-case for stablecoins is going to be a "massive trend" and discusses the company's upcoming U.S. dollar stablecoin.

Persons: Monica, Ripple

☆ What Trump's mass deportation plan would mean for immigrant workers and the economy
▼ + stars: | 2024-11-10 | by ( Kevin Williams | ) www.cnbc.com time to read: +13 min

Mass deportation would exacerbate this economic issue, say employers and economists. Leverant says it is still being determined how jobs lost from a mass deportation would be filled. "Looking at specific occupations, about one-quarter of farm workers, agricultural graders, and sorters are undocumented workers. "One of the natural problems with undocumented workers, we don't know how many are here because they are undocumented. A mass deportation is not possible without crippling economic impact," he said.

Persons: Donald Trump, Donald J, Trump, Jason Leverant, Leverant, Chad Prinkey, AtWork, Janeesa Hollingshead, Hollingshead, Uber, Trump's, David Leopold, Leopold, Kristen Welker, isn't, they're, Nan Wu, Wu, Prinkey Organizations: U.S, White, TPS, AtWork, American Progress, American Immigration Council, American Community Survey, Pew Research Center, Consulting, Uber Works, American Immigration, Citizenship, Immigration Services, Trump, NBC News, AIC, USDA, Conservative, CNBC Workforce, cnbccouncils.com, wec Locations: Mexico, Eagle, , Texas, Piedras Negras, U.S, United States, Madison, New York, Greensfelder, California, Prinkey, Boston, Austin

The Summary A patch of snow in Scotland known for lingering year-round has melted for the fourth consecutive year. Such snow patches can act as harbingers of the broader consequences of climate change. A patch of snow in the Scottish Highlands dubbed the Sphinx typically lingers year-round, staying frozen through the summer. “It’s always been about trying to get that the right balance, to make sure that nature and people can thrive in the national park,” Moir said. We are now looking at an epoch where patches of snow are possibly going to be only occasional survivors.”

Persons: It's, ”, Grant Moir, Moir, ” Moir, “ We’ve, we’ve, “ It’s, Iain Cameron, Scottish Snow Hunter, Cameron, “ Organizations: Scottish Highlands, Park Authority, ” Records, Climate, Scottish, Royal Meteorological Locations: Scotland, Scottish, Braeriach, Great Britain, Scotland’s

☆ Bitcoin's on track to hit $100,000 after Trump's election victory, analysts say
▼ + stars: | 2024-11-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Bitcoin is on track to hit the $100,000 price milestone by the end of the year after President-elect Donald Trump's election victory, according to analysts. Bitcoin at $100,000 "doesn't sound so unreasonable" given it equates to "just 10% of gold's market share," Butterfill told CNBC in emailed comments. BTC to hit $100K by Trump's inauguration A $100,000 bitcoin price is likely to be reached by the time Trump is inaugurated president on Jan. 20, 2025, according to Fadi Aboualfa, head of research at crypto custodian Copper.co. Still, with bitcoin exchange-traded funds currently holding roughly 1.1 million bitcoins, momentum is likely to be positive in the coming months, Aboualfa added. It cuts in half the supply of bitcoin issued to miners who successfully produce new bitcoins.

Persons: Donald Trump's, James Butterfill, Butterfill, Trump, Kamala Harris, Gary Gensler, CoinShares, Kooner, Fadi Aboualfa, Aboualfa Organizations: Republicans, CNBC, Wednesday, U.S . Securities, Exchange Commission, SEC, Federal Reserve, BTC, Trump's Locations: America, bitcoin, U.S

Trump's first 100 days are likely to be a rollercoaster, especially given his affinity for headline-grabbing moves. These structured channels helped ensure open dialogue on issues like tariffs, technology restrictions, and financial stability. A potential role for Elon Musk as a geopolitical go-between China might look to alternative channels to manage relations with Trump's administration. National security and AI, autonomous vehicles National security considerations will also be front and center in Trump's early China policy, especially regarding technology restrictions. Expect tariffs, technology restrictions, and Trump's unique brand of diplomacy to push the relationship to its limits.

Persons: Donald Trump, Xi Jinping, Kevin Lemarque, Donald Trump's, Trump, Mao Ning, Trump's, Biden, Elon Musk, Tesla, he's, Robin Ren, Ying Yong, Wu Qing, hasn't, Steve Wynn, Musk, — Organizations: Reuters, White, U.S ., Foreign, Treasury, Commerce, Tesla Inc, Bloomberg, Getty, European Union, Trump Locations: Osaka, Japan, U.S, China, Beijing, Shanghai, Washington, Taiwan, European, South Korea, Trump's

☆ This Trump trade euphoria is likely to fade fast
▼ + stars: | 2024-11-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Wednesday morning, my inbox was flooded with notes from analysts eager to talk about the election’s upside for various sectors. The crypto folks came on especially strong, cheering the success of the candidate who promised them the moon. When the stock market opened in New York, the enthusiasm for these so-called Trump trades went into hyperdrive. Virtually all mainstream economists oppose tariffs on that scale and expect they would cause inflation to rise yet again. “My worst-case scenario is that he’s actually successful with his blanket tariff policies,” Alpert told me.

Persons: CNN Business ’, Dow, Bitcoin, ” Daniel Alpert, “ There’s, Alpert, Art Hogan, Matt Egan, Trump, ” Hogan, “, he’s, ” Alpert, ” Organizations: CNN Business, New York CNN, Trump, Westwood Capital, Riley Wealth Management, Republican Locations: New York, hyperdrive, Washington

☆ How data-driven solutions are helping employers combat the rising costs of diabetes
▼ + stars: | 2024-11-07 | by ( Sponsored Unitedhealthcare | ) www.businessinsider.com time to read: +7 min

Employers can use health data to offer personalized support for employees with type 2 diabetes. "It's a growing epidemic," said Dr. Donna O'Shea, chief medical officer of population health, UnitedHealthcare. These stark differences emphasize the crucial role of data in helping employers support the health of their workforce. That leads to more targeted, precise and customized interventions for diabetes care, and in turn, healthier, more productive employees and lower health care costs," Kurtzweil said. Learn more about Level2's role in supporting safe and effective diabetes care.

Persons: Donna O'Shea, Craig Kurtzweil, Kurtzweil, Level2, O'Shea Organizations: Diabetes, American Diabetes Association, Health Action, UnitedHealth, Insider Studios Locations: –, UnitedHealthcare, New York, America

☆ 2 crypto tycoons are almost $15 billion richer after Trump's election victory
▼ + stars: | 2024-11-07 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Two crypto moguls' joint wealth rose by about $15 billion on the back of Trump's election victory. Binance's Chaopeng Zhao and Coinbase CEO Brian Armstrong added about $12 billion and $2.6 billion each. AdvertisementTwo cryptocurrency tycoons saw a near-$15 billion boost to their combined wealth on Wednesday as Donald Trump won the presidential election. One result was the world's 12 richest people grew more than $70 billion richer in a single day, per Bloomberg's wealth rankings. Exclude him and his 11 peers have grown a combined $505 billion richer this year — a figure that exceeds the market value of Oracle ($502 billion).

Persons: Binance's Chaopeng Zhao, Brian Armstrong, —, Donald Trump, Changpeng Zhao, Zhao, Elon, Binance, Elon Musk, Anthony Harvey, Kamala Harris, Musk, Larry Ellison, Berkshire Hathaway's Warren Buffett, Jeff Bezos, Bernard Arnault Organizations: Service, Bloomberg, Trump, Ethereum, Republican, Democratic, Oracle Locations: Solana, Berkshire

While many Silicon Valley VCs and founders aren't huge Trump fans, their industry thrives when startups are getting acquired or going public quickly. The Biden administration clamped down heavily on tech M&A, so Trump's win could be a financial boon for the sector. Stephen Hays, the founder and managing partner of What if Ventures, said money is already moving again. AdvertisementBig Tech returns to the tableAs president, Trump could roll back some of the antitrust policies that his opponent would have continued. "People are keeping to themselves and just getting on with their business," said Conrad Burke, a managing partner of MetaVC Partners.

Persons: Kamala Harris, Reid Hoffman, Laurene Powell, Vinod Khosla, Harris, Donald Trump's, aren't, Biden, There's, Jordan Nof, Stephen Hays, Trump, Elon, Lina Khan's, Lulu Cheng Meservey, Y, Lina Khan, Kevin Dietsch, Brandon Brooks, — Trump's, JD Vance —, Chris Farmer, Mason Angel, Louis Lehlot, Lardner, Michael Greeley, Crypto, hasn't, Gary Gensler, Bitcoin, Brian Garrett, Garrett, Jenny Fielding's, Fielding, Conrad Burke, Leslie Feinzaig, bundlers, Kamala, I've Organizations: Democrat, White House, Trump, Tusk Venture Partners, Ventures, Tech, Federal Trade, Investors, Foley, Big Tech, Markets, Flare Capital, Biden, SEC, Crosscut Ventures, Google, Microsoft, MetaVC Partners Locations: Europe

☆ Here's how the next wave of ETF innovation could hinge on Tuesday's elections results
▼ + stars: | 2024-11-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

The ETF industry is gearing up for some potentially seismic changes in 2025 and beyond. Policy changes from the SEC are hard to predict, but the ETF industry appears to sense an opening to push new types of products. Private credit funds One big area of focus for the ETF industry is how to tap into the private credit boom that has become a key part of the U.S. financial system. Fund issuers will need the SEC to bless new types of constructions in order to get a private credit fund approved. "For the most part, private credit is an investment that is limited to sophisticated investors and not retail investors," said Brian Murphy, a partner at law firm Stradley Ronon.

Persons: Republican Donald Trump, Gary Gensler, Kamala Harris, Todd Sohn, Brian Murphy, Stradley, You've, Gerard O'Reilly, What's, Matt Hougan, Harris, Sohn, " Sohn, Bitwise Organizations: Republican, Securities, Exchange, Democratic, SEC, State, Vanguard, BlackRock, Trump, solana

☆ Bitcoiners celebrate as $40 million campaign brings down Ohio Sen. Sherrod Brown
▼ + stars: | 2024-11-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

Republican nominee for U.S. Senate Bernie Moreno addresses supporters at Brecksville Community Center on November 4, 2024 in Brecksville, Ohio. He voted against pro-crypto legislation, called for more regulation of the sector, and regularly posted anti-crypto rhetoric on social media. According to the tracker, 224 pro-crypto candidates have been elected to the House, against 106 anti-crypto House candidates that have won. In the Senate, 14 pro-crypto candidates have been elected, while nine anti-crypto candidates have been victorious. "Americans disproportionately care about crypto and want clear rules of the road for digital assets," Armstrong wrote.

Persons: Bernie Moreno, Crypto, Sherrod Brown, Brown, Moreno, Sen, Elizabeth Warren, Chris Larsen, Joe Biden, Warren, I'm, Tyler Winklevoss, Gary Gensler crony, Winklevoss, Brian Armstrong, Armstrong, Coinbase, Gensler, Elect Moreno's, Bitcoin, Donald Trump Organizations: U.S, Brecksville, Center, Ohio Senate, U.S . Senate, CNBC, Politico, SEC, Senate, Crypto Alliance, NBC, Commodities, Trading Commission, Fairshake, Defend, Jobs, Republican, —, Yildirim Locations: Brecksville , Ohio, Ohio

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