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For most art-world buyers, a work unsubtly called “Comedian” lacked a certain a-peel. But on Wednesday, Cattelan got the last laugh as “Comedian” sold for $6.24 million, including $1 million in fees. The buyer was soon revealed to be Justin Sun, a 34-year old cryptocurrency platform founder from China and based in Switzerland. And while some who have capitalized on those assets will inevitably purchase art, artworks themselves have their own rates of return that depend more on evolutions in taste that don’t correlate with wider macroeconomic trends. Sun, the “Comedian” buyer, used his own cryptocurrency, TRX, to make the purchase, Sotheby’s said.

Persons: ”, Maurizio Cattelan, Cattelan, Justin Sun, Sun, ” Sun, ” David Galperin, Sun’s, Alex Glauber, “, ” Glauber, Leonardo da Vinci’s “ Salvatore Mundi ”, Glauber, Duchamp, Marcel Duchamp, Jianping Mei, Michael Moses, JP Mei, ” Moses, “ It’s, Moses, Sotheby’s, CoinMarketCap, Robb, Robert Allen Organizations: Basel, Association of Professional Art Advisors, The New York Times, Moses Art Market Consultancy, NBC News, Sun Locations: Italian, Miami, China, Switzerland, Americas, South Florida, millennials, Europe, South America

President-elect Donald Trump on Friday nominated Dr. Marty Makary, a pancreatic surgeon at Johns Hopkins University who's made controversial claims about Covid, as commissioner of the Food and Drug Administration. The Agency needs Dr. Marty Makary, a Highly Respected Johns Hopkins Surgical Oncologist and Health Policy Expert, to course-correct and refocus the Agency," Trump said on Truth Social. As FDA commissioner, Makary would be responsible for regulating and overseeing drugs, food, medical devices and other products, such as tobacco and cosmetics. The current FDA commissioner is Dr. Robert Califf, a cardiologist who also held the role during President Barack Obama's second term. Trump had two FDA commissioners during his first term: physician Dr. Scott Gottlieb and oncologist Dr. Stephen Hahn.

Persons: Donald Trump, Marty Makary, Johns Hopkins University who's, Makary, He's, Trump, Robert F, Kennedy Jr, He’s, Noam Galai, Kennedy, Kennedy’s, ” Makary, Dr, Paul Offit, Offit, Robert Califf, Barack Obama's, Scott Gottlieb, oncologist Dr, Stephen Hahn Organizations: Johns Hopkins University, Food and Drug Administration, Johns, World Health, Safety, National Academy of Medicine, National Academies of Science, Engineering, Medicine, Paragon Health Institute, Fox News, FDA, Agency, Johns Hopkins Surgical, Truth, HBO, Street, Biden, Health, Human Services, Children’s Hospital of Philadelphia Locations: Johns Hopkins, New York City, U.S

☆ Dining Sheds Changed the N.Y.C. Food Scene. Now Watch Them Disappear.
▼ + stars: | 2024-11-23 | by ( Pete Wells | ) www.nytimes.com time to read: +14 min

Building for the Long HaulBalthazar, SoHo, ManhattanJonah Rosenberg for The New York Times Jonah Rosenberg for The New York Times Jonah Rosenberg for The New York Times Jonah Rosenberg for The New York TimesThe Open Restaurants program was originally scheduled to end after Labor Day in 2020. Street dining at Cebu began in late 2020 with movable barricades separating diners from the traffic. Privacy on a Busy StreetDon Angie, West Village, ManhattanJonah Rosenberg for The New York Times Jonah Rosenberg for The New York Times Jonah Rosenberg for The New York Times Jonah Rosenberg for The New York TimesThe public-health rationale for outdoor dining was that fresh summer breezes could help slow the spread of the coronavirus. Jonah Rosenberg for The New York Times (Balthazar, Don Angie, Oscar Wilde). Marissa Alper for The New York Times (Cebu).

Persons: Lila Barth, Philip Guardione, Piccola Cucina, verdigris, Restaurateurs, Eric Adams, Karsten Moran, Manhattan Jonah Rosenberg, Jonah Rosenberg, Balthazar, cabanas, Ian McPheely, Keith McNally, ”, Erin Wendt, Roberta Delice, Resy, Wendt, “ We’re, Ms, Brooklyn Marissa Alper, Marissa Alper, The New York Times Michael Esposito, Esposito, I’m, Don Angie, Scott Tacinelli, Angie Rito, Rito, “ Scott, ” Mr, Tacinelli, aren’t, Manhattan Lila Barth, Stacy Pisone, Caroline Brennan, Brennan, Eduardo Kobra, Andy Warhol, Jean, Michel Basquiat, Keith Haring, Frida Kahlo, “, Rushmore, ” Ms, Pisone, “ It’s, Ayza, Zafer Sevimcok, Sevimcok, Oscar Wilde, Eden Weingart, Andrew Hinderaker Organizations: The New York Times, verdigris Beaux, City Council, Department of Transportation, New York Times, The New York, Labor, Paisley Design, cabanas, Balthazar Restaurant, American Express, Gardens, Cebu Bar, Cebu, GRT Architects, Herald Locations: SoHo, Mount Etna, New York City, Havana, New York, Rome, Buenos Aires, Dawa’s, Woodside , Queens, Manhattan, Spring, Paris, Eyesores, Gardens Cebu, Bay Ridge, Brooklyn, Cebu, West Village, Chelsea, Boston

☆ Fox hosts, cable news regulars and entertainment pros: Trump is casting a made-for-TV Cabinet
▼ + stars: | 2024-11-23 | by ( Steve Contorno | Kristen Holmes | ) edition.cnn.com time to read: +9 min

He has plucked two Fox News stars from their airwaves – Sean Duffy for Treasury secretary and Pete Hegseth to lead the Pentagon. Trump’s choice for ambassador to Israel, Mike Huckabee, had a six-year run hosting a Fox News show. As a former reality TV star, Trump is deeply attuned to the power of the small screen. Among the flurry of names for non-Cabinet roles that Trump announced Friday evening were also several former and current Fox News contributors. And Sebastian Gorka, whom Trump named senior director of counterterrorism, was a Fox contributor in 2018 and 2019.

Persons: Donald Trump’s, Sean Duffy, Pete Hegseth, Trump, Mehmet Oz, Linda McMahon, Mike Huckabee, Tulsi Gabbard, Tucker Carlson, Donald Trump, Eva Marie Uzcategui, Duffy, Rachel Campos, ”, “, Oz, Mike Waltz, Kristi Noem, Sen, Marco Rubio, Howard Luntick, Rebecca Quick, I’ve, Doug Burgum, Tom Homan, Homan, ” Trump, Matt Gaetz, Gaetz –, –, JD Vance, Scott Applewhite, Pam Bondi, Hegseth, headwinds, Chris Coons, CNN’s Manu Raju, Dr, Janette Nesheiwat, Marty Makary, Robert F, Kennedy Jr, Sebastian Gorka, Neil Gorsuch, Brett Kavanaugh, Larry Kudlow, Christina Bobb, Rupert Murdoch’s, Bret Baier, Kamala Harris, Vance, Rubio, Burgum, ” CNN’s Kate Sullivan, Manu Raju, Alayna Treene, Brian Stelter Organizations: CNN, Fox, Pentagon, Department of Education, Fox News, Trump, TV Cabinet, Fox Business, Medicare, Republicans, South Dakota Gov, Department of Homeland Security, Wall Street, CNBC, Commerce, North Dakota Gov, of, Interior, Republican, Capitol, Florida, and Drug Administration, “ Fox, Department of Health, Human Services, Salem Radio Network, National Economic Council, America News Network Locations: Israel, Mar, Palm Beach , Florida, Wisconsin, Minnesota, Pennsylvania, Florida, America, Spanish, Washington ,, Gaetz, Delaware, Ohio

☆ Meet Casey Means, the surgeon turned health influencer behind RFK Jr.'s MAHA movement
▼ + stars: | 2024-11-23 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +12 min

AdvertisementDr. Casey Means and her brother Calley are helping shape RFK Jr's new approach to America's health. In a best-selling book "Good Energy," she makes a case that modern diseases are rooted in metabolic health. Robert F. Kennedy Jr. is a fan of Casey Means' work and views in the wellness space. Her mantra is that a healthy metabolism can reverse many health conditionsMeans' book promotes the pursuit of Good Energy, which she defined as great metabolic health. AdvertisementShe espouses popular advice around diet, exercise, and sleepThroughout the book, Means promotes widely agreed-upon health advice.

Persons: Casey Means, Calley, Dr, Marc Andreessen, Means, John McCain's, Donald Trump, Robert F, Kennedy Jr, Kennedy, MAHA —, Rebecca Noble, Tucker Carlson, Joe Rogan's, I've, Brad Stulberg, Christy Harrison, they've, Calley Means, Matt Harbicht, Andrew Huberman, Peter Attia, Harrison, Meredith Schneider Organizations: RFK, Stanford, Department of Health, Human Services, Wall Street Journal, Good Energy, University of Michigan, pharma, Tandem Diabetes Locations: Spain

☆ First-of-its-kind saber-toothed kitten mummy find is covered in soft fur
▼ + stars: | 2024-11-23 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

CNN —Woolly mammoths, giant sloths and saber-toothed cats were a fact of life for early humans. Fantastic creaturesScientists compared the mummified saber-toothed baby cat (top) with a modern lion cub (bottom). courtesy Prof. Alexey V. LopatinPaleontologists excavating in Russia’s Yakutia region uncovered the first known mummy of a saber-toothed cat. The well-preserved remains, uncovered in Siberian permafrost, are nearly intact, including surprisingly soft fur and even the “toe beans” — as cat lovers call feline footpads — on its front paws. The red supergiant star, called WOH G64, is about 160,000 light-years from Earth in the Large Magellanic Cloud, which orbits the Milky Way.

Persons: Alexey V, Homotherium latidens, Amelia Earhart’s, Earhart, ”, Tony Romeo, “, Ohnaka, Jacco van, Kelly, Zach Weinersmith, Elon, Blain, we’ve, Aviv, —, Ashley Strickland, Katie Hunt, Jackie Wattles Organizations: CNN, Lockheed, ESO, Keele Observatory, UK’s Keele University, Institut, la Vision, HCL, Human Cell, SpaceX, CNN Space, Science Locations: Russia’s Yakutia, Asia, Homotherium, Howland Island, Jacco van Loon, Mars, Paris, Lyon, England

☆ Welcome to the mullet market: Steady benchmarks in the front, crypto party in the back
▼ + stars: | 2024-11-23 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

This market is starting to summon the lighthearted take on a mullet haircut: business in the front, party in the back. BTC.CM= YTD mountain Bitcoin, YTD Every bullish argument for bitcoin comes down to "More people will soon have more ways to buy more of it." I've tracked the interplay between bitcoin and Nvidia shares for a while. The market's immediate response was simply to allow Nvidia to hold onto the $2.3 trillion in market value it's added this year, but not to pile on more. Meaning the current pace of new money entering these funds is not as heavy relative to total market value as it was nearly four years ago.

Persons: Trump, bitcoin, I've, John Roque, Warren Pies Organizations: Nasdaq, Nvidia, Nvidia ramped, Vanda Research, Trump, 22V Research, Bloomberg, Federal Reserve, 3Fourteen Research Locations: lockstep, bitcoin

☆ Stock for Sale by Cabinet Members
▼ + stars: | 2024-11-23 | by ( Lauren Hirsch | ) www.nytimes.com time to read: +1 min

As President-elect Donald Trump takes an unconventional approach to stocking his cabinet, he’s also embracing one candidate pool that has plenty of precedent: Wall Street chief executives. On Friday, Trump picked Scott Bessent, a top economic adviser and the founder of Key Square Group, a hedge fund, to be his Treasury secretary. He previously tapped Howard Lutnick, the chief executive of the financial services firm Cantor Fitzgerald, for commerce secretary. Executives appointed to government positions are often required to make extensive stock divestitures, so the path from Wall Street to Washington can be particularly complex (while also offering an opportunity to avoid certain taxes). Bessent’s potential departure from Key Square may trigger “key man provisions” that often protect clients of hedge funds if top executives leave.

Persons: Donald Trump, he’s, Trump, Scott Bessent, Howard Lutnick, Cantor Fitzgerald Organizations: Wall Street, Key Square Locations: Washington

☆ I spent 10 years and $800,000 renovating an Arkansas missile silo. It's my greatest accomplishment, but I don't recommend others try it.
▼ + stars: | 2024-11-23 | by ( Dan Latu | ) www.businessinsider.com time to read: +9 min

AdvertisementArkansas resident GT Hill purchased a missile silo, decommissioned in the 1980s, for $90,000 in 2010. He bought a $90,000 decommissioned missile silo and turned it into an Airbnb. If it's a Walking-Dead-style apocalypse, you don't want to be in a missile silo because then you're trapped inside. Lastly, I was interested in owning a missile silo because it's just kick ass. Courtesy of GT HillI found my missile silo, called Titan II, online.

Persons: Hill, I'm, It's, we're, We've, We'd, we've, Kara, Nate, Lynne Peeples, everybody's, it's Organizations: GT Hill, GT, Air Force, US, Titan Locations: Arkansas, Vilonia , Arkansas, Oregon, Searcy , Arkansas, Russia

☆ DOGE aims to cut the number of federal workers. Here are the 20 highest-paying federal jobs.
▼ + stars: | 2024-11-23 | by ( Madison Hoff | Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

AdvertisementTrump's new Department of Government Efficiency aims to reduce the number of federal workers. Business Insider looked at the highest average salaries of federal civilian employees by occupation. The top 20 had average salaries over $160,000, with medical officers ranking No. Three of the five jobs with the highest average salaries were health-related. Financial analysis workers rounded out the top 20 highest-paying jobs on average; their largest employer, with about 300 analysts, was the Federal Deposit Insurance Corporation.

Persons: Donald Trump's, Elon Musk, Vivek Ramaswamy, Ramaswamy, Trump, Karoline Leavitt, Vance Organizations: of, Efficiency, Business, Trump's Department, Government, Tesla, GOP, Street Journal, Management, Department of Veterans Affairs, Federal Deposit Insurance Corporation, Department of Education, Department of Energy, Trump, mhoff

When we asked CNN readers for their questions about the incoming Trump 2.0 administration, we got a lot of nervous and scared feedback. AshleyPresidents have wide authority to declare a national emergency. Trump declared a national emergency when he was president the first time in order to unlock border wall funding that Congress refused to give him. Some states with Republican governors have already deployed National Guard troops to the border. Read more answered questions on Trump here.

Persons: Donald Trump’s, Ashley, Trump, Joe Biden, Read Organizations: CNN, Trump, Security, Ashley Presidents, National Guard

☆ GE Vernova is well positioned as energy sector reverts to natural gas, says William Blair's Jed Dorsheimer
▼ + stars: | 2024-11-22 | 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 EmailGE Vernova is well positioned as energy sector reverts to natural gas, says William Blair's Jed DorsheimerJed Dorsheimer, head of energy and sustainability at William Blair, to discuss why Wall Street is bullish on GE Vernova.

Persons: William Blair's Jed Dorsheimer Jed Dorsheimer, William Blair Organizations: GE, GE Vernova

☆ HSBC names 2 China stock picks for 2025 — and gives one over 70% upside
▼ + stars: | 2024-11-22 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Chinese markets are "turning a corner" following a series of government stimulus measures , HSBC said, naming its top stock ideas for 2025. Here are two of the stocks HSBC likes: KE Holdings HSBC is bullish on real estate player KE Holdings (or Beike), and considers it a key beneficiary of "China's 2025 inflection point." KE Holdings "has the highest earnings sensitivity to a recovery in property sales in both the primary and secondary markets," he added. KE Holdings' shares are listed on the Hong Kong Exchange and trade as an American Depositary Receipt (ADR) in the U.S. under the ticker BEKE . Hongfa Technology HSBC is also bullish Hongfa Technology and has a target price of 48.10 Chinese yuan ($28.30) on the stock, giving it around 50% upside.

Persons: Oliver Yu, Goldman Sachs, Morgan Stanley, Yu, Corey Chan, Chan, — CNBC's Michael Bloom Organizations: HSBC, KE Holdings HSBC, Holdings, HSBC Global Research's, Real, KE Holdings, Hong Kong Exchange, Hongfa Technology HSBC, Technology, HSBC Qianhai Securities, Shanghai Stock Exchange, iShares Global Tech ETF, Fidelity MSCI Locations: China, U.S

☆ The High Risk, High Reward Trump Market
▼ + stars: | 2024-11-22 | by ( Jeff Sommer | ) www.nytimes.com time to read: +1 min

Markets abhor uncertainty. That bit of Wall Street wisdom helps explain their ebb and flow since Donald J. Trump’s victory on Election Day, and even earlier. Stocks and bond yields began rising early in October, when Wall Street concluded that Mr. Trump would win. Yet for the markets, uncertainty hasn’t vanished. He promises lower corporate taxes and less regulation: Those assurances are being widely interpreted as a recipe for fat company profits and a prosperous stock market.

Persons: Donald J, Trump, It’s Organizations: Wall, Mr, Trump Locations: Washington

☆ 8 programming languages to know to land a job on Wall Street
▼ + stars: | 2024-11-22 | by ( Bianca Chan | ) www.businessinsider.com time to read: +2 min

Python and SQL are among the most popular languages; C++ and Tableau are more specialized. Big Tech firms like Apple and Amazon have signaled a move away from the complicated coding language C++, but there's still a place for engineers who know the coding language on Wall Street. AdvertisementIn today's machine-to-machine world, having some experience with programming languages is a must. As it turns out, not all programming languages are made equal and some are more relevant to certain corners of Wall Street than others. Here are the programming languages to know:

Persons: there's, Apple, Swift, It's, Matt Stabile Organizations: Business, Big Tech, Apple, Stony Brook University, White, Citadel Securities, Microsoft, Virtu Financial, Hudson, Sigma, Susquehanna International Group, Wall

☆ Trump Taps Investor Scott Bessent as Treasury Secretary
▼ + stars: | 2024-11-22 | by ( Alan Rappeport | Maggie Haberman | ) www.nytimes.com time to read: +1 min

President-elect Donald J. Trump picked Scott Bessent to serve as Treasury secretary on Friday, tapping a billionaire hedge fund manager to lead an economic agenda that is expected to be built around raising tariffs and cutting taxes. Mr. Bessent, the founder of the investment firm Key Square Capital Management, has emerged as a central economic adviser to Mr. Trump over the past year. Unlike many on Wall Street, Mr. Bessent, 62, has also defended the use of tariffs, which are Mr. Trump’s favorite economic tool. If confirmed by the Senate, Mr. Bessent would take over a department with vast responsibilities that is at the core of the federal government. The Treasury Department issues debt to fund the government’s operations and pay its bills, including paying Social Security and veterans benefits.

Persons: Donald J, Trump, Scott Bessent, Bessent, George Soros Organizations: Key, Capital Management, Democratic, Senate, Treasury, Social Security

☆ Morgan Stanley cautions against owning overcrowded stocks for risk of high valuation, volatility
▼ + stars: | 2024-11-22 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Owning overcrowded stocks could increase volatility and lead to muted portfolio gains, according to Morgan Stanley. "Crowded trades come with the risk of overvaluation and increased volatility as it may be more difficult to attract the marginal investor, while avoiding overcrowded stocks can provide investors with an opportunity to capture unrecognized value when paired with strong fundamentals," Morgan Stanley strategists said in a note to clients. Car rental agency Avis Budget Group was the most crowded stock among hedge funds, with more than half its float owned by professional traders. Aerospace and defense company Loar Holdings and real estate development and management firm Howard Hughes were also on the list of crowded trades. Janus Henderson , The New York Times , Planet Fitness and Wayfair were popular names among hedge funds last quarter.

Persons: Morgan Stanley, Russell, Howard Hughes, Janus Henderson Organizations: Avis Budget Group, Aerospace, Loar Holdings, The New York Times Locations: The

CNN —President-elect Donald Trump’s Treasury secretary pick stands in stark contrast to some of the more controversial and questionable Cabinet picks he’s announced so far. In many respects, the Treasury secretary is the quarterback of the economy. Wall Street was unfazed by the selection. One of the Treasury secretary’s jobs is to help keep Wall Street calm and confident during times of economic or market turmoil. The Treasury secretary works closely with both the central bank and the White House.

Persons: Donald Trump’s, he’s, Scott Bessent, “ Scott Bessent, ”, Glock, “, Trump, Matt Gaetz, Robert F, Kennedy, Jr, MAGA, ” Glock, Bessent, Elon Musk, Cantor Fitzgerald, Howard Lutnick, Musk, Lutnick, –, Isaac Boltansky, “ Scott, I’ve, Kyle Bass, Xi Jinping, Jerome Powell Organizations: CNN, Manhattan Institute, Trump loyalists, Treasury, Soros Fund Management, Fox News, Trump, Commerce, Street, Hayman Capital Management, Dow Jones, White Locations: Bessent, China, Argentina

CNN —President-elect Donald Trump on Friday announced his picks for critical remaining public health roles in his incoming administration. He or she also serves as vice admiral of the US Public Health Service Commissioned Corps, overseeing this group of uniformed officers who seek to promote the nation’s health. “And if you remember, under the President Trump administration’s leadership, you’ll recall that we had incredible public health policies, President Trump’s unparalled creation of Operation Warp Speed was one like we’ve never seen before. Chan School of Public Health. “The superiority of natural immunity over vaccinated immunity is clear.”CDC directorThe director of the CDC leads the nation’s foremost public health agency, which deals with disease prevention and control and environmental health.

Persons: Donald Trump, Trump, Janette Nesheiwat, Marty Makary, Dave Weldon, Robert F, Kennedy Jr, Trump’s, Kennedy, CNN’s Kaitlan Collins, “ We’re, ” Nesheiwat, you’ll, we’ve, Johns Hopkins, Makary, ”, Weldon, “, Terri Schiavo, Brian Stelter, Meg Tirrell Organizations: CNN, Friday, Food and Drug Administration, US Centers for Disease Control, National Institutes of Health, US Department of Health, Human Services, Senate, CDC, US Public Health Service, Corps, Fox News, American Board of Family Medicine, American University of, University of Arkansas, Medical Sciences, FDA, Johns Hopkins University, Sidney Kimmel Medical College of Thomas Jefferson University, Harvard, of Public Health, National Academy of Medicine, World Health Organization, Street, Journal, Agency, Toxic Substances, SUNY, Army, Letterman Army Medical Center, Army Reserve, American Board of Internal Medicine, Assurance, Agency for Vaccine, HHS, Disease Control Locations: Florida, Caribbean, St, Maarten, New York, Chan, Buffalo

☆ Asia-Pacific markets set to rise as investors assess Japan inflation data
▼ + stars: | 2024-11-22 | by ( Anniek Bao | ) www.cnbc.com time to read: +1 min

The Tokyo Tower, left, and commercial and residential buildings in Minato district of Tokyo, Japan, on Saturday, Oct. 1, 2022. Photographer: Akio Kon/Bloomberg via Getty ImagesAsia-Pacific markets were set to open higher Friday, tracking a rally on Wall Street, with the S&P logging gains for a fourth straight day. Investors in Asia will assess Japan's October consumer price index data. Singapore is also set to release its third-quarter GDP data, with growth anticipated to accelerate to 4.6% year on year from 4.1% in the prior quarter, according to LSEG data. Hong Kong's Hang Seng index futures were flat from its last close at 19601.11.

Persons: Akio Kon Organizations: Bloomberg, Getty Images, Investors, Reuters, Nikkei Locations: Tokyo, Minato district, Japan, Getty Images Asia, Pacific, Asia, Singapore, Chicago, Osaka, 19601.11

☆ Trump expected to nominate Scott Bessent for Treasury secretary
▼ + stars: | 2024-11-22 | by ( Alice Tecotzky | Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

AdvertisementTrump is preparing to nominate Scott Bessent, a billionaire investor, for Treasury secretary. President-elect Donald Trump is reportedly preparing to nominate Scott Bessent, a Wall Street veteran and campaign ally, for Treasury secretary, one of the biggest Cabinet prizes. AdvertisementBessent, 62, founded and runs the macro hedge fund Key Square Group and emerged as a key economic advisor to Trump on the campaign trail. Known for his interest in niche economic data, Bessent helped draft speeches and write policy proposals for Trump's economic ideas. Dubbed a "Trump whisperer" by Forbes, Bessent has signaled support for some of Trump's key proposals.

Persons: Scott Bessent, Bessent, George Soros, Donald Trump, Trump's, Trump, Al Gore, Soros, James Rogers, hasn't, John Freeman, he's, — Trump, Jerome Powell's Organizations: Trump, Wall Street, Group, GOP, Democratic, Street Journal, Yale, Soros Fund Management, Republican, Soros, Mar, Forbes, CNBC, Federal Locations: South Carolina, New York City, Charleston , South Carolina, Southampton , New York

☆ Salesforce CEO Benioff rips Microsoft's AI efforts. Here's why we're not picking sides
▼ + stars: | 2024-11-22 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

In the emerging AI software battle between Microsoft and Salesforce , investors do not need to pick a side. The announcements came roughly one year after the tech giant launched a suite of AI assistant tools called Microsoft 365 Copilot. Both companies leaning into AI agents is notable because Salesforce CEO Marc Benioff has not been hesitant to attack Microsoft's competing AI offerings. Salesforce stock is up 28% year to date versus Microsoft's roughly 9% gain since the start of 2024. I don't want to go against Microsoft," Jim said.

Persons: Jim Cramer, —, Marc Benioff, Benioff, who's, Satya Nadella, Nadella, They're, We've, Salesforce, Slack, Agentforce, Jim, it's, Jim Cramer's, Salesforce's Dreamforce, Justin Sullivan Organizations: Microsoft, Deutsche Bank, Club, CNBC, Getty Locations: Agentforce, Salesforce's, Mulesoft, San Francisco , California

☆ How Elon Musk’s plan to slash government agencies and regulation may benefit his empire
▼ + stars: | 2024-11-22 | by ( Magdalena Petrova | ) www.cnbc.com time to read: +2 min

Some of his ventures already benefit tremendously from federal contracts. SpaceX has received more than $19 billion from contracts with the federal government, according to research from FedScout. Musk, who has frequently blamed the government for stifling innovation, could also push for less regulation of his businesses. Musk and Ramaswamy also championed the large-scale auditing of agencies, calling out the Pentagon for failing its seventh consecutive audit. To learn how else Elon Musk and his companies may benefit from having the ear of the president-elect watch the video.

Persons: Elon, Geoff Orazem, Vivek Ramaswamy, Trump, Ramaswamy, Elon Musk, Lora Kolodny Organizations: Company, SpaceX, Trump, Republican, Department of Government, Street, Congress, Pentagon, CNBC Locations: FedScout

The role requires Senate confirmation unless Mr. Trump is able to make recess appointments. The choice of Mr. Vought would bring in a strongly ideological figure who played a pivotal role in Mr. Trump’s first term, when he also served as budget chief. Among other things, Mr. Vought helped come up with the idea of having Mr. Trump use emergency power to circumvent Congress’s decision about how much to spend on a border wall. Mr. Vought was a leading figure in Project 2025, the effort by conservative organizations to build a governing blueprint for Mr. Trump should he take office once again. Mr. Trump tried to distance himself from the effort during his campaign, but he has put forward people with ties to the project for his administration since the election.

Persons: Donald J, Trump, Russell T, Trump’s Organizations: Management, White House

CNN —President-elect Donald Trump named billionaire Scott Bessent as his pick to serve as the next secretary of the Department of the Treasury. A key Cabinet player, the US Treasury secretary advises the president on economic and fiscal matters, including spending and taxes. Bessent would be the first out gay Treasury secretary, as well as the first LGBTQ Senate-confirmed Cabinet member in a Republican administration, according to The Associated Press. Compared to Lutnick’s more aggressive campaign for the role, Bessent led a more understated quest for the position. All of the names Trump put out Friday night had been decided by the afternoon, the sources said, but he wanted to name his Treasury secretary first before publicly releasing his other decisions.

Persons: Donald Trump, Scott Bessent, “ Scott, ” Trump, Scott, ” Bessent, Trump, George Soros, Bessent’s, Bessent, Pete Buttigieg, ”, Howard Lutnick –, Lutnick, Cantor Fitzgerald, fides, MAGA, Elon, Steven Mnuchin, Mnuchin, Kayla Tausche, Matt Egan Organizations: CNN, Department of, Treasury, of Innovation, Capital, U.S, Reserve, Square Capital Management, Soros Fund Management, Democratic, Senate, Republican, Associated Press, Biden, Wall Street, Trump, ”, Financial Times, CNBC, Soros, United, Republicans, Treasury Department Locations: United States, United States of America, China

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