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But facing the political pressure of getting confirmed by the Senate, some of those Cabinet picks are now having to moderate. “The truly shaky to get 50 votes are in full bleach mode,” said one longtime Republican consultant involved in Senate campaigns. Trump has said the United States should avoid involvement in Syria, posting on social media, “This is not our fight. Presidential nominees adjusting some of their positions to get Senate support is nothing new. Trump said during the campaign — and echoed in recent weeks — that cuts to programs like Social Security are off the table.
Persons: Donald Trump’s, , Elon Musk, Vivek Ramaswamy —, , , Tulsi Gabbard, Bashar al, Assad, Gabbard, Trump, Alexa Henning, President Trump, Pete Hegseth, Sen, Joni Ernst, Ernst, Hegseth “, Hegseth, Sean Hannity, ” Ernst, Pete, Trump’s, MAGA, confirmable, Ramaswamy, he’s, ” Trump, Mike Lee, Mark Alford, ” Alford, I’ve, John Thune, Washington’s nastiest, Thune Organizations: Trump, Senate, “ Department, Government, Democrat, Republican, America, Fox News, Iowa Republican, Fox, NBC News, Trump’s, Social Security, NBC, Press, Medicare ” Locations: Syria, United States, lockstep, Iowa, Utah
President-elect Donald Trump has invited Chinese President Xi Jinping to his inauguration in January, though it's unclear if he plans to attend. “That is true, yes, and this is an example of President Trump creating an open dialogue with leaders of countries that are not just allies but our adversaries and our competitors, too," she said. Trump has long touted his close relationship with Xi, whom he hosted at Mar-a-Lago in 2017. Xi congratulated Trump after his election victory last month, but it is not clear whether the two men have spoken. Xi told President Joe Biden last month that he would work with the incoming Trump administration and that “China’s goal of a stable, healthy and sustainable China-U.S. relationship remains unchanged.”
Persons: Donald Trump, Xi Jinping, Karoline Leavitt, Trump, Leavitt, Xi, didn't, Biden, Sen, Marco Rubio, Mike Waltz, Trump’s Jan, TikTok, Joe Biden, Organizations: Fox News, Fox, Trump White House, China's, NBC, ByteDance, The, Department, Wednesday, Mar, Trump Locations: China's U.S, U.S, China, Beijing, United States, Lago
Trump was flanked by Vice President-elect JD Vance , incoming first lady Melania Trump , NYSE President Lynn Martin and two of Trump's children, Ivanka and Tiffany, as the bell chimed. "We're going to give tremendous incentive like no other country has," Trump told the moneyed crowd, including by cutting taxes "very substantially." It's hard to bring things down once they're up," Trump told the magazine. Hedge fund magnate Bessent, Trump's pick to replace Janet Yellen as Treasury secretary, told Cramer the next administration will benefit both Wall Street and Main Street. "I think we're going to see under President Trump Wall Street can win and Main Street can win, just like we did in Trump 1.0.
Persons: Robert F, Kennedy Jr, Scott Bessent, Doug Burgum, Howard Lutnick, Trump, JD Vance, Melania Trump, Lynn Martin, Tiffany, Donald Trump, nobody's, CNBC's Jim Cramer, Joe Biden, Mark Zuckerberg's, Jeff Bezos, Cramer, Bessent, Janet Yellen, , Alex Harring, Yun Li Organizations: Treasury, NYSE, New York Stock Exchange, SpaceX, Elon, CNBC Investing, Trump Locations: Manhattan, , U.S, USA, Trump
Here is how one group of initially skeptical centimillionaires got over their doubts, how they are now thinking about bitcoin, and how they invest in it. AdvertisementThe group's members, which make up a diverse bunch, range from 30 to 87 years old with the average being 45 to 55. But bitcoin's future price prospect isn't the only draw for R360 members. This perception isn't new or unique to R360 members. They're making their voice heard, 'this candidate, yes, because they're supportive of bitcoin, and this candidate, no, because they're not.'
Persons: Charlie Garcia, Garcia, Donald Trump, centimillionaires, Barbara Goodstein, bitcoin, Michael Saylor, you'll, Donald, who's, Bobby Kennedy's, they're, David Bailey, Bobby Kennedy, Bailey Organizations: Business, Trump, Bitcoin Conference, Bitcoin, Mar, BTC Inc Locations: bitcoin, Washington, United States, Nashville
Private credit firms with $30 billion to $70 billion in assets will be the firms to watch. And it's not just the traditional money managers, private equity firms are also using acquisitions to strengthen their private credit capabilities and market presence. McGahan said private credit firms with between $30 billion and $70 billion in assets under management will be the ones to watch. If you're a private equity manager, you're paid with carried interest, or a percentage of profits generated from the firm's investments. He added there are also operational differences and gave the example of a private credit firm using treasury functions daily versus a private equity firm that uses a couple times a month.
Persons: Greg McGahan, PwC, McGahan, Martin Small, Larry Fink, Rob Kapito, Small, You've, you've Organizations: Business, BlackRock, HPS Investment Partners, Goldman Sachs Locations: New York
New York CNN —The Consumer Financial Protection Bureau has finalized a rule that curbs excessive overdraft fees charged to customers of large banks and credit unions, potentially saving consumers as much as $5 billion a year. The rule, unveiled Thursday, would cap overdraft fees at $5 — a substantial savings from the $35 that customers are typically charged. Additional options for banks would allow them to either cap fees at amounts that just cover their costs or to treat an overdraft like any other loan by disclosing terms like interest rates. “That is real relief for families.”Banking trade groups are against the new rule, saying that the agency’s proposed rule could backfire. Congress created the bureau in 2010 to protect consumers from financial scams.
Persons: ” Rohit Chopra, , Lael Brainard, Joe Biden’s, there’s, Trump Organizations: New, New York CNN, Consumer Financial, National Economic Council, Banking, Consumer Bankers Association, Court Locations: New York
In the latest show of support for Ukraine, the Biden administration plans to announce an expected $500 million aid package in coming days that will pull equipment out of the US military’s stocks. And the senior administration official told CNN that the administration is pouring resources into getting previously announced weapons for Ukraine into Kyiv’s hands before Biden leaves office. “DoD is undertaking a historic effort to move massive quantities of weapons into Ukraine in the next five weeks,” the senior administration official said. He said in the interview that he “vehemently” disagreed with the decision by the Biden administration to allow Ukraine to strike inside Russia with US-provided weapons. But still, the biggest challenge facing Ukraine is not its weapons stocks, the senior administration official said — it’s manpower.
Persons: CNN —, Biden, Trump, Donald Trump, Jake Sullivan, Sullivan, Lloyd Austin, airlifts, Andriy Yermak, David Shimer, Ukraine hasn’t, — Trump, , , “ We’re, ” Trump, Mike Waltz, Keith Kellogg —, Volodymyr Zelensky, Zelensky, Emmanuel Macron Organizations: CNN, Kyiv, Time Magazine, DoD, Pentagon, National Security, Russia, Ukraine NATO, Trump, Congress, Ukraine Locations: Ukraine, Russia, Europe, Paris, “ Ukraine
“The only certainty is that new tariffs will be costly for the United States,” the researchers concluded. More than half (56%) of shoes sold in the United States are made in China, the trade group said. China’s “dominant position” in toymaking would be difficult to replicate in a way that meets US product safety standards, the Peterson Institute research found. The United States relies on Mexico for 89% of its imported avocados and 91% of foreign-grown tomatoes, according to the US Department of Agriculture. On the campaign trail, Trump vowed to make prices plunge and stressed that his tariff plan would not reignite inflation.
Persons: Trump, Donald Trump’s, , It’s, ” Karoline Leavitt, Vance, Steve Madden, Cole Haan, China’s, Julieta Contreras, Mary Lovely, Jing Yan, , ” Trump Organizations: New, New York CNN, Peterson Institute for International Economics, CNN, Peterson, , Footwear Distributors, Retailers of America, Nike, United, Peterson Institute, US Department of Agriculture, NBC, Locations: New York, China, United States, Canada, Mexico, toymaking, , AutoZone, Columbia
Sanjay Malhotra, governor of the Reserve Bank of India (RBI), during a news conference in Mumbai, India, on Wednesday, Dec. 11, 2024. India's newly-appointed central bank governor Malhotra said he will look to uphold stability and continuity in policy in his role. The government's latest move to replace Reserve Bank of India (RBI) Governor Shaktikanta Das with Sanjay Malhotra appears to be a calculated, yet subtle, way to address the weakness in India's economy. However, he underscored the key role that stability, trust and growth hold in guiding the central bank's decisions. "On day one it may not be appropriate to start with bouncers, googlies and yorkers," the 26th RBI governor said in a live press conference on Wednesday.
Persons: Sanjay Malhotra, Malhotra, Dhiraj Singh, Narendra Modi, Modi, Hong Kong's, Shaktikanta Das, Das, Shah, Amrit Kaal, Bharat Organizations: Reserve Bank of India, Bloomberg, Getty, Fort, Ministry of Finance, Capital Economics Locations: Mumbai, India, India's, CNBC's
CNN —FBI Director Christopher Wray’s resignation announcement was the latest, and inevitable, step in the accumulation of massive and unusual power around President-elect Donald Trump. For Trump’s supporters, Wray’s exit will represent another moment of triumph following the president-elect’s political comeback amid criminal cases that once threatened not just his political career but his liberty. They insist that Kash Patel, Trump’s pick to replace Wray, will purge what they see as the politicization of the FBI. An internal Justice Department report found that there were serious errors made in Foreign Intelligence Surveillance Court applications on Carter Page, a former Trump 2016 campaign adviser. In many presidencies, tensions erupt between the bureau and Justice Department and the White House, since the agencies are regarded as quasi-independent.
Persons: Christopher Wray’s, Donald Trump, Wray, Biden, Trump, Wray’s, Kash Patel, , Wray –, Patel, MAGA, he’d, , James Comey —, — Wray, Hillary Clinton’s, ” —, ” Steve Moore, It’s, Seth Moulton, , weaponization, Carter Page, ” Chuck Grassley, Pam Bondi, ” Tom Dupree, George W, Bush, CNN’s Jake Tapper, “ We’ve, ” Patel, Steve Bannon’s, Joe Biden, — we’re, he’ll, “ I’m, NBC’s “ Organizations: CNN, FBI, Congress, Trump –, Trump, White, Republican, Capitol, America, CNN News Central, Massachusetts Democratic, Department, Intelligence, GOP, Justice Department, Conservative Political, DOJ, Democracy, Republican Party Locations: Lago, Massachusetts, Russia, State
No one wants to own cable TV networks anymore
  + stars: | 2024-12-12 | by ( Peter Kafka | ) www.businessinsider.com   time to read: +3 min
If so, consider that the people who own cable TV networks seem increasingly uninterested in hanging on to them. That's the real story behind WBD's corporate maneuvering Thursday — to make a cable TV spin-off or sale much more likely. Comcast is ditching its cable TV networks. That's because Comcast's spun-off cable TV operation will want to find other cable TV networks to add to its collection, so it can increase negotiating power. (Just Thursday, Google said it was hiking the price of its YouTube TV cable bundle by 14%.)
Persons: WBD, WBD execs, Comcast's, Donald Trump's, David Zaslav Organizations: Comcast, Warner Bros, TNT, Food Network, Trump, Big Tech, Big Media, Google, YouTube Locations: Big
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCisco CEO: Business community 'upbeat' about incoming administrationChuck Robbins, Cisco CEO, joins 'Money Movers' to discuss the incoming presidential administration, what business leaders are expecting from this next administration, and much, much more.
Persons: Chuck Robbins Organizations: Cisco, Business
White House officials are billing Thursday’s move as the biggest single-day act of clemency in modern history. “America was built on the promise of possibility and second chances,” Biden said in a statement released shortly after CNN reported early Thursday morning on the coming announcement. With less than six weeks left until the end of Biden’s term, the president is expected to provide further relief. “I will take more steps in the weeks ahead,” Biden said. The White House counsel’s office has also been in consultation with the Justice Department’s Office of the Pardon Attorney.
Persons: Joe Biden, Hunter, ” Biden, , Biden, Donald Trump, , renege, Anita Dunn, we’ve, , Ed Siskel Organizations: CNN, White, , Democratic, Administration, Justice Department’s Office
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Bill Hagerty on Trump's crypto approach: We want to be at the cutting edge of innovationSen. Bill Hagerty joins CNBC's 'The Exchange' to discuss how the incoming administration will handle crypto, how the president-elect will incentivize American investment, and more.
Persons: Email Sen, Bill Hagerty, Sen Organizations: Email
Bond yields, which are correlated with inflation and interest rate expectations, leaped on the news. Following this print, the market believes an interest rate cut next week is almost guaranteed. Higher prices could complicate a strong setupMajor investment firms are almost universally bullish heading into 2025, and for good reason. "And while this print shouldn't force that reality to interrupt the holiday season, investors should be [wary] of impacts higher inflation might have on their portfolios and be prepared accordingly." The former often benefits from higher inflation since a jump in oil prices would pad its profits.
Persons: Lara Castleton, Janus Henderson, Steve Sosnick, Donald, Rick Rieder, Jim Baird, Plante, Baird, Gargi Chaudhuri, aren't, Ronald Temple, deglobalization, Rieder, Sinead Colton Grant, Trump, he's, Colton Grant, Janus Henderson's Castleton Organizations: Nasdaq, Janus, Janus Henderson Investors, Business, Interactive Brokers, Reserve, Financial, Americas, BlackRock, Trump, Lazard, Fed Locations: wilting, Castleton
Analysts initially thought mortgage rates would drop below 6% in 2025. Investors are pricing in expectations of higher inflation under the Trump administration, which has pushed mortgage rates up. After the November presidential election, many analysts began updating their mortgage rate forecasts to reflect higher rate expectations in 2025. Revised 2025 mortgage rate forecastMany analysts were initially predicting that 30-year mortgage rates would fall below 6% in 2025. Bond yields rose in anticipation of this outcome as a Trump win became more likely, which in turn pushed mortgage rates higher.
Persons: Trump, Realtor.com, Danielle Hale, Fannie Mae's, Hale, Donald Trump, they're, Rob Cook, Cook, it's, doesn't Organizations: Business, Service, Realtor.com, Mortgage Bankers Association, Trump, Federal Reserve, Discover
The Trump administration promised to reduce the US deficit to 3%. How Trump approaches his tax cut plans will matter, a Pimco economist wrote in the Financial Times. Washington's ballooning debt has prompted a lot of fear among economists and market experts, but there are ways Donald Trump's incoming administration can mitigate the impact. Doing so could yield $100 billion to $400 billion in national savings over the coming decade. Meanwhile, she cited that addressing inefficiencies in healthcare and defense could save Washington $400 billion to $500 billion annually.
Persons: Trump, Donald, Tiffany Wilding, doesn't, Wilding, Joe Biden's, Elon Musk, Vivek Ramaswamy — Organizations: Financial Times, Trump, Congressional, Washington, Government, Republican Locations: Washington, Republican Congress
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBill Ackman: Stepping into the most pro-growth, pro-business administration in my adult lifetimePershing Square Capital Management CEO Bill Ackman joins 'Squawk on the Street' to discuss President-elect Trump's appearance at the New York Stock Exchange, what to look forward to in the incoming Trump administration, top administration priorities, state of the economy, economic and market outlook, and more.
Persons: Bill Ackman, Trump Organizations: Pershing, Capital Management, New York Stock Exchange
Biden administration officials said Wednesday they have no current plans to authorize a stockpiled bird flu vaccine, despite an escalating outbreak among livestock in the U.S. and at least 58 human infections across seven states. Almost all bird flu cases in the U.S. have been in farmworkers who have had contact with infected animals — either dairy cows or poultry — aside from a patient in Missouri and a child in California. The federal government has two bird flu vaccine candidates available in limited quantities in the nation’s Strategic National Stockpile, though they need to be authorized by the Food and Drug Administration before they can be used. Still, some public health experts believe the time for vaccination is now, particularly for farmworkers. In 1976, at the first signs of an H1N1 swine flu outbreak in the U.S., public health officials quickly initiated a nationwide vaccine campaign.
Persons: Trump, Robert F, Kennedy Jr, Nirav Shah, ” Shah, , , farmworkers, Jennifer Nuzzo, Shah, William Schaffner, Schaffner, Keith Poulsen, it’s, ” Poulsen, Nuzzo, Poulsen Organizations: Biden, Department of Health, Human Services, Centers for Disease Control, Department of Agriculture, USDA, Food and Drug Administration, Pandemic, Brown University School of Public Health, Administration, Strategic Preparedness, HHS, FDA, Vanderbilt University Medical Center, Trump, CDC, Wisconsin Veterinary Diagnostic Laboratory Locations: U.S, farmworkers, Missouri, California, Canada, Barre, Wisconsin
North Carolina Republican lawmakers voted to override a gubernatorial veto of a bill that strips the state's incoming Democratic officials of key powers. The GOP-led state House of Representatives on Wednesday voted along party lines to override outgoing Democratic Gov. The Republican-controlled state Senate voted to override Cooper's veto last week, meaning the bill will now go into effect, though legal challenges are expected. Three state House Republicans from western North Carolina who voted against the bill originally supported the veto override on Wednesday, giving the party the three-fifths support in the chamber necessary to overrule Cooper. "The bill, to be clear, is a power grab, not disaster relief," Stein said at a Democratic Governors Association meeting last weekend in California.
Persons: Roy Cooper's, Josh Stein, Dave Boliek, Jessica Holmes, Cooper, Mark Pless, Hurricane Helene, Jeff, Stein, Jaime Harrison, Republican Party — Organizations: North, North Carolina Republican, GOP, Democratic Gov, Republican, Democrats, Republicans, NBC, Democratic, Democratic Governors Association, Republican Party Locations: North Carolina, North Carolina's, Hurricane, California
In today’s edition, political embed Alec Hernández sifts through 20 interviews Donald Trump's incoming "border czar," Tom Homan, has done to get a clearer sense of his mass deportation plans. Plus, chief political analyst Chuck Todd breaks down the opportunities and challenges facing Mike Duggan's independent bid for Michigan governor. In the past month, he has done at least 20 interviews, which have all been reviewed by NBC News. Tasked with coordinating Trump’s core campaign promise of a mass deportation, Homan has used the appearances to begin detailing how the efforts might take shape and how the administration will move its plan forward. While they are far from painting a complete picture, the interviews have given more specifics than have been offered about the deportation policy in the past.
Persons: Alec Hernández sifts, Donald Trump's, Tom Homan, Chuck Todd, Mike Duggan's, Alec Hernández, Donald Trump’s, Homan, Trump, , David Webb, The Defense Department “, ” Homan, noncooperation, “ I’ve, you’re, , Read, Mike Duggan, he’s, Gretchen Whitmer isn’t, Jocelyn Benson, Garlin Gilchrist, Duggan, there’s, aren’t, Dan Gilbert, Jamie Dimon, Gilbert, Dimon, Benson, Gilchrist, Pete Buttigieg, , Chuck → 🗞️, , ej, ove Organizations: NBC, White House, Capitol, Michigan, Senate, White, NBC News, ., The Defense Department, Fox Business, Cooperation, Trump, Democratic, ICE, Fox News, Detroit, Democrat, Gov, Rocket Mortgage, JPMorgan Chase Locations: Washington, Michigan, Detroit
With the balance of power in northern Syria swinging toward the rebels who toppled the Assad regime, U.S.-backed Kurdish forces and their ability to contain ISIS may now be under threat. Suspected ISIS fighters in a prison cell in northeastern Syria in 2019. “One camp recognizes the historic fight with the Kurds against ISIS … and of course the other camp — where Trump probably lands — is to try and move out of Syria,” he said. Syrian Kurds fleeing areas north of Aleppo walk to the western outskirts of Raqa, on Dec. 3. Delil Souleiman / AFP via Getty ImagesIf a second Trump administration were to pull out of Syria, it would leave Kurdish forces without a major international ally.
Persons: Assad, , Mazloum Abdi, Ugur Yildirim, Hayat Tahrir, Recep Tayyip Erdoğan, Fadel Senna, , Renad Mansour, Mansour, Erik Kurilla, State Anthony Blinken’s, “ We’ve, Lloyd Austin, , Delil Souleiman, Donald Trump, Trump, Farhad Shami Organizations: ISIS, Kurdish Syrian Democratic Forces, Islamic State, Syrian National Army, Getty, Kurdistan Workers Party, House, NBC, U.S . Central Command, State, , Syrian Democratic Forces, ISIS …, Reuters, NBC News Locations: Syria, U.S, Kurdish, Turkey, Manbij, Israel, Damascus, Turkish, Iraq, East, North Africa, London, Japan, Aleppo, AFP, United States, Syria’s, , Raqa,
When Syria’s new interim prime minister, Mohammad al-Bashir, chaired a Cabinet meeting in Damascus on Tuesday, hanging behind him was the flag of the country’s suddenly victorious opposition. That path will largely depend on Hayat Tahrir al-Sham, the rebel organization that led the charge into Damascus and is now stewarding Syria’s political overhaul. Its leader, Abu Mohammad al-Jolani, said a decade ago that there would be no room for religious minorities in the Islamist Syria of which he dreamed about. The leader of Syria's Islamist HTS group, Abu Mohammad al-Jolani, at the Umayyad Mosque in Damascus on Sunday. Aref Tammawi / AFP - Getty ImagesSome observers, such as Gerges, see the interim prime minister as little more than an Jolani figurehead.
Persons: Syria’s, Mohammad al, Bashir, Assad, Muhammad Haj Kadour, Abu Mohammad al, Jolani, Ahmad al, , Bilal Sukkar, trepidation, Nael, ” Sukkar, Fawaz, Gerges, , ” al, Della Sera, “ God, Aref Tammawi Organizations: Getty, Harvard Divinity School, London School of Economics, Islamic State, U.S, NBC News Locations: Damascus, Syria, Hayat Tahrir, Homs, Sunday, AFP, United States, Al Qaeda, Syrian, London, Idlib, Italian, Washington, Umayyad, Idlib province
Even when those circumstances existed, though, agents had to get approval from superiors in order to plan an arrest in a sensitive location. The idea that Trump might allow ICE agents to arrest anywhere, even inside schools and houses of worship, without the current limitations began circulating in Project 2025, a list of policy proposals distributed by the Heritage Foundation prior to the election. Some church leaders say they have faced harassment for providing sanctuary space to migrants and are already having conversations about the impacts of a policy change on sensitive locations. The church leader asked that NBC News not use their name because of safety concerns for their congregation. One former DHS official said change the sensitive locations policy might be welcome news for some agents who have felt stymied by restrictions on where they can operate and felt the policy was “abused” by wanted individuals in the past.
Persons: Donald Trump, , John Morton, ” Lee Gelernt, Trump, , Trump’s, John Kelly, Organizations: Trump, Customs, Biden, American Civil Liberties Union, ICE, Heritage Foundation, NBC, DHS, Church World Service Locations: Arizona, America
Tasked with coordinating Trump’s core campaign promise of a mass deportation, Homan has used the appearances to begin detailing how the efforts might take shape and how the administration will move its plan forward. Homan has not been as direct as Trump has about how he sees the military’s role in the operation he will oversee. Tom Homan, who does not have to face Senate confirmation, has been going on Fox News and other conservative outlets to talk about Trump's plans on immigration. Funding mass deportationA major outstanding question, however, remains how the incoming Trump administration would fund a deportation scheme at that large a scale. “For those governors and mayors who are saying they’re going to stop Tom Homan, they’re going to stop President Trump: Shame on you,” Homan said on Fox News on Nov. 20.
Persons: Donald Trump’s, Tom Homan, Homan, Trump, Sen, JD Vance, Ohio, ” Homan, Fox News ’ “ Hannity, , we’re, , “ Ingraham Angle, “ I’m, they’ll, Joe Biden, Lloyd Austin, Biden, David Webb, The Defense Department “, Melina Mara, I’ve, “ I’ve, Phil McGraw, Phil, McGraw, we’ve, you’re, Jesse Watters ’, Pam Bondi, It’s, Greg Abbott, , José Raúl Mulino, Eric Adams, Adams, Adams “, We’re, I’m, Ingraham, Kristen Welker, noncooperation, they’re, doesn’t Organizations: Senate, White, ICE, Trump, NBC News, , Fox News, Democratic, Defense, The Defense Department, DOD, Washington, Getty, Fox Business, CBP, Customs, Cooperation, White House, Jesse Watters ’ Fox News, Gov, New York, Yorkers, Republicans, Politico, CBS, , NBC, Press Locations: Eagle, , Texas, New York, Chicago, “ Chicago
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