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☆ Activist investor ValueAct has $1 billion stake in Meta, sources say
▼ + stars: | 2024-11-12 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Activist investor ValueAct has a $1 billion stake in Facebook parent Meta , according to people familiar with the matter. ValueAct has a long history of investing in technology companies, and is generally considered to be more constructivist and collaborative than other activist funds. Meta is the parent company of Facebook, Instagram and WhatsApp. It is one of the largest companies to be targeted by an activist investor, with a market cap of nearly $1.5 trillion. Morfit has also pushed for change at other, smaller technology companies, including Spotify.

Persons: Mark Zuckerberg, ValueAct, Mason Morfit, Nelson Peltz's Trian, Meta, Brad Gerstner's, Gerstner, Morfit, — CNBC's David Faber Organizations: Meta, Inc, Orion, Facebook, Disney, Nelson Peltz's Trian Partners, Microsoft, Spotify Locations: Menlo Park , California

☆ Special counsel Jack Smith’s office is bracing for retribution if Trump wins
▼ + stars: | 2024-11-01 | by ( Katelyn | ) edition.cnn.com time to read: +8 min

CNN —One year after bringing historic indictments against former President Donald Trump, the prosecutors left in special counsel Jack Smith’s office are gaming out legal options and bracing for retribution if Trump returns to the White House. In the event that Trump wins, staffers detailed to the special counsel’s office would have the option to go back to their home divisions within the Justice Department. But former prosecutors on the Trump case could face a difficult workplace, once Trump’s appointees are running the department. If Vice President Kamala Harris wins, the choices for the department and the special counsel’s office may be much simpler. “Just think of the chaos of it all – that, he [Trump] would love,” one of the former Justice Department officials said.

Persons: Donald Trump, Jack Smith’s, Trump, Smith, ”, “ He’s, I’m, Aileen Cannon’s, Smith didn’t, Cannon, David Raskin, Matt Olsen, —, Smith’s, Kamala Harris, General Merrick Garland, Tanya Chutkan, Chutkan, CNN’s Evan Perez Organizations: CNN, Justice, Justice Department’s, Trump, Justice Department, Trump’s, Smith’s, Democratic, Department, DOJ, Prosecutors Locations: Florida, Washington

☆ Los Angeles I-10 Freeway Closure Expected to Snarl Traffic
▼ + stars: | 2023-11-13 | by ( Jennifer Calfas | ) www.wsj.com time to read: 1 min

A fire under Interstate 10 severely damaged the freeway connecting to downtown Los Angeles. Photo: Richard Vogel/Associated PressLos Angeles drivers girded for significant disruptions to their commutes beginning Monday after a fire shut down part of Interstate 10, a major artery in the city’s freeway system. A section of the busy interstate that connects to downtown Los Angeles will remain closed in both directions “until further notice,” the California Department of Transportation, or CalTrans, said Sunday. California Gov. Gavin Newsom declared a state of emergency in Los Angeles County over the weekend, mobilizing state resources to assist with repairing the damage.

Persons: Richard Vogel, Gavin Newsom Organizations: Associated Press Los, California Department of Transportation, CalTrans, California Gov Locations: Los Angeles, Los Angeles County

☆ Here's how much WeWork co-founder Adam Neumann made before the company's bankruptcy
▼ + stars: | 2023-11-07 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

WeWork's dizzying rise and protracted fall into Chapter 11 bankruptcy protection Monday largely hinged on one man: Adam Neumann. By the time it filed for bankruptcy protection, WeWork was worth a mere $45 million. "As the co-founder of WeWork who spent a decade building the business with an amazing team of mission-driven people, the company's anticipated bankruptcy filing is disappointing," Neumann said in a statement to CNBC. In all, despite being removed from a management role years earlier, Neumann reportedly collected around $770 million in cash from the 2021 SPAC process alone. Neumann also still retained a stake in the company valued at around $722 million when WeWork debuted in 2021, Bloomberg reported.

Persons: Adam Neumann, WeWork, Neumann, who'd, outsized, SoftBank, it's, Andreesen Horowitz, there's Organizations: CNBC, Bloomberg Locations: WeWork, U.S

☆ Louvre Evacuated In Paris as France Girds for Risk of More Attacks
▼ + stars: | 2023-10-14 | by ( ) www.wsj.com time to read: +1 min

PARIS – Thousands of visitors hastily evacuated the Louvre on Saturday for what the museum said was a security risk, as French officials girded for potential terrorist attacks. The evacuation, filmed by museum visitors and broadcast on social media networks, showed people walking briskly to the exits under blaring alarms. A museum spokeswoman said the choice to evacuate the site was made “after receiving a written message describing a risk for the museum and its visitors.”The closure of one of France’s most prominent tourist attractions is the most visible sign yet of France’s new shift to high alert after a teacher was killed in a suspected terrorist attack on a high school in northern France on Friday. The attack rattled a country already on edge from last weekend’s terrorist attack by Hamas in Israel and Israeli airstrikes on Gaza. France is home to some of Europe’s largest Muslim and Jewish populations.

Organizations: PARIS Locations: France, Israel, Gaza

☆ Wall Street gains, dollar eases ahead of CPI report
▼ + stars: | 2023-09-11 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. The relatively languid session appeared to be the calm before a storm of U.S. economic data this week, with Wednesday's crucial consumer prices report (CPI) paramount. "Investors are focusing on how they will respond to Wednesday's CPI report," Stovall added. Emerging market stocks rose 0.48%. Gold prices headed higher in opposition to the dollar.

Persons: Brendan McDermid, Sam Stovall, Stovall, Kazuo Ueda, Sterling, Brent, Stephen Culp, Amanda Cooper, William Maclean, Angus MacSwan Organizations: New York Stock Exchange, REUTERS, Bank of, Nasdaq, Tesla Inc, CFRA Research, CPI, U.S, Financial, Bank of Japan, Dow Jones, Bank's, Japan's Nikkei, Treasury, Thomson Locations: New York City, U.S, Bank of Japan, New York, U.S . Federal, Japan, Asia, Pacific, Russian, Saudi, London

☆ Typhoon Haikui prompts Taiwan to evacuate thousands, cancel flights
▼ + stars: | 2023-09-03 | by ( ) www.reuters.com time to read: +2 min

[1/4] A lifesaver keeps watch next to a red flag designating the prohibition of swimming as Typhoon Haikui approaches the region, at Sunset Beach in Chatan, Okinawa prefecture, Japan September 1, 2023. Haikui is forecast to make landfall in the mountainous and sparsely populated far southeast of Taiwan late Sunday afternoon. Counties and cities in the east and south cancelled classes and declared a day off for workers. Haikui is expected to be only a Category 1 or 2 typhoon when it hits Taiwan, according to Tropical Storm Risk. After passing across southern Taiwan, Haikui is forecast to cross the Taiwan Strait into China.

Persons: Haikui, Issei Kato, Tsai Ing, Ben Blanchard, Jonathan Oatis, Edwina Gibbs Organizations: REUTERS, Rights, UNI Air, Mandarin Airlines, Sunday, Civil Aeronautics Administration, Thomson Locations: Sunset, Chatan, Okinawa prefecture, Japan, Rights TAIPEI, Taiwan, Haikui, Hong Kong, Chinese, Guangdong, Taiwan Strait, China

☆ Both Sides Plan for Next Battles Over Israel’s Court Overhaul
▼ + stars: | 2023-07-25 | by ( Patrick Kingsley | More About Patrick Kingsley | ) www.nytimes.com time to read: +1 min

The far-right governing coalition’s plan to weaken the courts has set off months of unrest that threatens to widen Israel’s social fissures into yawning chasms. But the next showdown did not begin immediately — the streets were fairly quiet on Tuesday — and may not do so for months. Doctors walked off the job to protest the new law, but just for a day. “People are still trying to figure it out,” said Josh Drill, a spokesman for the alliance. “Because yesterday was such an intense day, the different groups are still in deliberations,” he added.

Persons: Doctors, ”, Josh Drill Organizations: “ Locations: Israel

☆ JPMorgan fails Jeffrey Epstein stress test
▼ + stars: | 2023-06-15 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +8 min

At least, that’s the impression left by Jamie Dimon’s answers to recent questioning in relation to Jeffrey Epstein, the dead sex-trafficker who was a JPMorgan (JPM.N) client for 15 years. Taken altogether, the case is a sign that the bank is simply too big for one person to manage. Epstein was a JPMorgan client from 1998 until 2013. Epstein killed himself in a Manhattan jail cell in August 2019 while awaiting trial on sex trafficking charges. Litigation related to Epstein is still pending between the U.S. Virgin Islands and JPMorgan, as are claims by JPMorgan against its former head of investment banking, Jes Staley.

Persons: Jamie Dimon’s, Jeffrey Epstein, ” Dimon, “, Dimon, Epstein, Stephen Cutler, JPMorgan’s, Jes Staley, Mary Erdoes, Staley, fraudster Bernard Madoff, Cleave, Wells, Morgan Stanley, Jeffrey Epstein’s, John Foley, Streisand Neto Organizations: YORK, Reuters, JPMorgan, U.S, Securities, Exchange Commission, Department of Justice, Federal Reserve, Reuters Graphics, London Whale, Citigroup, U.S ., U.S . Virgin Islands, Thomson Locations: Wall, U.S, U.S . Virgin, Manhattan

☆ Prince Harry, Phone Hacking Avenger
▼ + stars: | 2023-06-07 | by ( Vanessa Friedman | ) www.nytimes.com time to read: +1 min

Since he and his wife, Meghan Markle, announced their decision in 2020 to step back as working royals and leave Britain, many versions of Prince Harry have been offered for public view. There was the liberated J. Crew-suited Harry of the Oprah Winfrey tell-all, the tie abandoned, the shirt unbuttoned at the throat. The just plain Harry in a plain gray T-shirt staring out from the cover of his memoir. The relaxed California cool dad Harry clad all in black of the Netflix documentary. Now, thanks to his two days of testimony in London’s High Court in the phone hacking trial against the Mirror Newspaper Group, there is one more Harry: the serious private citizen, girded to fight for the right of all against the untoward intrusions of the British tabloid press.

Persons: Meghan Markle, Prince Harry, Harry, Oprah Winfrey, King Charles III, Edward VIII, girded Organizations: Netflix, Mirror Newspaper Group Locations: Britain, California, London’s

At about 8.30 a.m. shooting started at the Soba military camp in the south of Khartoum, according to three eyewitnesses and an advisor within Dagalo's paramilitary Rapid Support Forces (RSF). Burhan's air force was studying where the RSF was gathered, using coordinates provided by the army, two military sources told Reuters, describing plans that have not previously been reported. The RSF, meanwhile, had been locating more and more gunmen at Soba and other camps across Khartoum, the same military sources said. The army also established a small committee of senior generals to prepare for a possible conflict with the RSF, the same sources said. Both the army and the RSF were quick to blame the other publicly for sparking the violence and attempting a power grab.

☆ The stock market is about to get a signal to buy - and it's 'old economy' sectors like materials that will be worth a look, Bank of America says
▼ + stars: | 2023-03-01 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

A buy signal is about to flash for stocks, Bank of America said Wednesday. The S&P 500 is hovering close to the firm's year-end target of 4,000. Investors should take a look at "old economy" sectors like materials and energy. "But we do see stock selection opportunities, particularly in old economy sectors that have been starved of capital for 10+ years." The sector, which has a nearly 3% weighting on the S&P 500, is also most exposed to China's reopening after its extensive COVID lockdowns.

☆ Fog-shrouded Kyiv recovers after Russian strikes
▼ + stars: | 2022-12-17 | by ( Dan Peleschuk | ) www.reuters.com time to read: +2 min

[1/2] An old woman walks at the Sofiyska square as municipal workers install a Christmas tree during a heavy fog, amid Russia's invasion of Ukraine, in Kyiv, Ukraine December 17, 2022. REUTERS/Gleb GaranichKYIV, Dec 17 (Reuters) - Basic services were being restored in Ukraine's capital Kyiv on Saturday after the latest wave of Russian air strikes on critical infrastructure, as residents navigated a city gripped by fog and girded for a holiday season marked by uncertainty. Earlier this month, Klitschko had warned of an "apocalypse" scenario for the capital if Russian air strikes on infrastructure continued, though he also said there was no need yet for people to evacuate. The vast space in front of the centuries-old St. Sophia Cathedral is traditionally anchored by a hulking evergreen at Christmas. But officials this year opted for a 12-metre (40-foot) artificial tree festooned with energy-saving lights powered by a generator.

☆ House Republicans brace for leadership struggle as Democrats tap Pelosi heir
▼ + stars: | 2022-12-01 | by ( David Morgan | ) www.reuters.com time to read: +4 min

A senior House Republican aide predicted that McCarthy would be elected speaker without a protracted contest. There may be multiple ballots," said Republican Representative Fred Upton, who is retiring from Congress. House speakers are elected on the floor by the full 435-seat chamber, including Republicans, Democrats and independents, with 218 votes needed for success. "We're willing to do multiple, multiple, multiple, multiple votes. "And if they refuse to compromise ... we'll work with Democrats to put in an agreeable Republican," Bacon added.

☆ Best Buy's jump on ho-hum earnings shows how unloved some retail stocks have become
▼ + stars: | 2022-11-22 | by ( Michael Santoli | ) www.cnbc.com time to read: +3 min

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics. The tape remains firm, levitating toward the upper end of a tight range in place for a week and a half. Best Buy 's pop on a still-soft sales outlook shows how cheap and unloved some of the group's leading stocks have become, though understandably given how sellers of goods over-earned the prior couple of years. It also shows upside risk, as managers might be forced to chase, though other gauges suggest more a hopeful stance by retail (decent stock inflows recently). There's a way to tell the story of 2022 as a year of concentrated, productive payback and reset.

LONDON, Sept 28 (Reuters) - The Federal Reserve is raising interest rates expeditiously to address very high, persistent inflation, and will likely get U.S. short-term borrowing costs to where they need to be by early next year, Federal Reserve Bank of Chicago President Charles Evans said Wednesday. Benchmark U.S. 10-year Treasury yields rose to their highest level in about 12-1/2 years on Tuesday as investors girded for higher interest rates that could possibly remain for longer than anticipated as Federal Reserve officials held firm in their hawkish stance. The Federal Reserve has aggressively hiked interest rates by 3 percentage points this year, taking its target range to 3.00%-3.25%. It carried out its third consecutive 75 basis point increase last week and signaled that rates are likely to rise to the 4.25%-4.5% range by the end of the year. Register now for FREE unlimited access to Reuters.com RegisterReporting by Dhara Ranasinghe, Jorgelina Do Rosario and Ann Saphir; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

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