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New York CNN —After a ridiculous spike over the past five weeks that had absolutely nothing to do with the company’s actual business, former President Donald Trump’s social media stock is suffering a sudden setback. Truth Social owner Trump Media & Technology Group’s share price plunged about 20% on Wednesday afternoon. If Trump Media finishes with a loss of more than 21%, it would qualify as its worst one-day loss since going public in March. Trump Media did not release any major news that would explain the nosedive. Trump Media’s stock has been extraordinarily volatile all year.
Persons: Donald Trump’s, It’s, , ” Dan Ives, ” Matthew Tuttle, Wednesday’s selloff, ” Tuttle Organizations: New, New York CNN, Social, Trump Media & Technology, Trump Media, Trump, White, Elon Musk, CNN, CBS, Paramount Global, GameStop, Wedbush Securities, Tuttle Capital Management Locations: New York
The anxiety abated for a bit when Vice President Kamala Harris replaced him on the ticket and her poll numbers spiked. With Harris' numbers stagnant now for weeks, many Democrats are once again fretting that the election is slipping away and that Donald Trump may yet regain power. Harris appears to be OK with the collective jitters, recognizing that if Democrats fear they might lose, they're more apt to show up at the polls and help her win. Polling shows that neither Harris nor Trump has built a lead outside the margin of error. Claims that Harris is an underdog amount to “a liberal plot to get us overconfident on the Trump side,” he added.
Persons: Joe Biden, Kamala Harris, Harris, Donald Trump, Trump, , can’t, That’s, “ She’s, she’s, Hillary Clinton, , John McLaughlin, , She’s, ” Harris, Biden, “ You’ve, you’ve, ” David Plouffe, Barack Obama, “ Kamala Harris, Tim Walz, strode, — Obama, — Clinton, Ellen DeGeneres, “ Hamilton, Lin, Manuel Miranda Organizations: WASHINGTON, Trump, Democratic, Fox News, IGN Locations: West Palm Beach , Florida, Greenville , North Carolina, Detroit, Erie , Pennsylvania, Wisconsin, Michigan, Georgia, Greenville, Pennsylvania, Ohio, Seattle
Check price at Chewy Check price at Amazon What we like Check mark icon A check mark. Check price at Chewy Check price at Amazon Check price at Clawguard What we like Check mark icon A check mark. Check price at Chewy Check price at Amazon What we like Check mark icon A check mark. Check price at Chewy Check price at Amazon Check price at Petco What we like Check mark icon A check mark. A cat scratching pad is a compact, budget-friendly product to help stop your cat from scratching furniture.
Persons: Andrea Sanchez, behaviorists, Christine Calder, Shoshi, Sanchez, Shields, Daniel, Calder, it's, It's, Quagliozzi, Scratcher, Marlow, scratchers, Bob Murtaugh, Murtaugh Organizations: Business, Banfield Pet Hospital, Veterinary Behavior Services, Shoshi Parks, Amazon, Parks, Veterinary Medical Association, Humane Society of, National Academies of Locations: Vancouver , Washington, Chewy, Shoshi, United States
The New York Times and at least 13 other news sites have blocked OAI-SearchBot. Part of the goal with new AI-powered search engines is to keep users around by showing them summaries. If publishers aren't seeing huge traffic from search engines anymore, why bother allowing their web crawling bots? The major holdout among publishers is The New York Times. "By providing Times content without The Times's permission or authorization, Defendants' tools undermine and damage The Times's relationship with its readers and deprive The Times of subscription, licensing, advertising, and affiliate revenue."
Persons: , OpenAI, Jon Gillham, SearchGPT, Gillham, The New York Times Gillham, Axel Springer, Charlie Stadtlander, Darius Rafieyan Organizations: Service, New York Times, Business, Yorker, Vogue, The New York Times, Microsoft, OpenAI
Two of these people said the aim of the years-long redesign — which also includes a fresh look for the Goldman website — was to give the firm's marketing materials a more "premium" feel. The photo was recently posted on Goldman's LinkedIn page Screenshot from Goldman Sachs' LinkedIn page"The Goldman Sachs wordmark is a piece of custom typography inspired by our heritage," the brand guidelines obtained by BI say. These people say they understand the changes cost Goldman Sachs millions of dollars. A screenshot of Goldman's website redesign plan with the G and the S joined on the right. Now fresher, brighter, and optimized for digital, the new Goldman Sachs blue is the only Goldman Sachs blue."
Persons: , Goldman Sachs, Sachs, Emmalyse, David Solomon, Goldman Sachs wordmark, Goldman, Fiona Carter, Jones Knowles Ritchie —, Burger, Marcus, Reed Alexander Organizations: Service, Business, Goldman, BI, Goldman's, GS, Apple Locations: Goldman, Sachs, British
But he is definitely leaning on the idea that he's building a media company that is also a tech company. That's partly because David Ellison isn't a tech mogul. But this reminds me a bit of the 2015 era when digital publishers like BuzzFeed and Vox Media told investors they weren't media companies but tech companies that made media. The bigger problem with the tech + media pitch isn't that tech and media aren't intertwined. AdvertisementThe real problem that Paramount — and just about every other big media company — has these days isn't that its tech isn't good enough.
Persons: , David Ellison, Ellison, he's, David Ellison's, Larry Ellison —, We've, David Ellison isn't, Steve Jobs, Jobs, John Lasseter, it's, He's, Lasseter, That's, Rich Greenfield, It's Organizations: Service, Hollywood, Paramount, Media, Technology Enterprise, Business, Oracle, Apple, Pixar, Disney, Vox Media, Netflix, YouTube, Lightshed
Work is getting really weird
  + stars: | 2024-07-01 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
The big storyBizarro workplaceLorenzo Matteucci for BILet's be honest: Work has gotten really weird. Workers hiring shadow stand-ins can be unqualified for their jobs, overwhelmed, greedy, or just lazy. Shadow stand-ins are typically paid a fraction of the salary earned by the actual employee. One employee also described to Rob struggling to deal with a shadow stand-in's sub-par work and eventually "firing" them. Getty Images; Alyssa Powell/BIMeanwhile, the people who are doing all the work themselves are having a tough time getting any recognition.
Persons: , Lorenzo Matteucci, Rob Price, Rob, Alyssa Powell, BI's Aki Ito, Roaring Kitty, Bain, Chris Miller, Greg Peters, Ted Sarandos, Peters, Chelsea Jia Feng, Coach's, David Rosenberg, Donald Trump's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Annie Smith, Amanda Yen Organizations: Service, Business, BI, Super, Facebook, Workers, Corporations, Getty, GameStop, McKinsey, Taiwan Semiconductor Manufacturing Company, Netflix, Walgreens, CVS, Rite, Wimbledon Locations: Chicago, India, Pakistan, China, Taiwan, New York, London
The US housing market has entered bizarro world
  + stars: | 2024-06-29 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +1 min
The US housing market is distorting a core principal of economics: supply and demand. Home prices soared to record highs in May, even as existing home sales fell and supply of homes for sale jumped. AdvertisementThe US housing market has officially entered bizzaro world. The law of supply and demand is a basic principle of any free market, and right now, it's being subverted by strange happenings in the real estate market. "When it comes to the housing market, the laws of supply and demand don't seem to apply any longer," economist David Rosenberg said in a note this week.
Persons: David Rosenberg, , it's Organizations: Service, Business
Dogen and his wife are FIREs — financial independence, retire early — who make it work with two kids in one of the US's most expensive cities. I'm only 35 years old, leaving a well-paid job behind, losing so much money," Dogen said. They upped their savings rate and tried to maximize passive income during those years. "One of the interesting phenomena you'll see in the FIRE space is how a man will proclaim he's retired early, but he'll have a working wife," Dogen said. She returned to the company after a few months, making more in a part-time position than she did working full-time.
Persons: Sam Dogen, Dogen, , monetizing, he's, she's, it's Organizations: Service, San, Business, FIRE Locations: New York City, San Francisco
The detailed plan laid out by OPEC+ over the weekend to increase oil production delivered a "bearish surprise" to a market in which prices were already under downward pressure, according to Goldman Sachs. OPEC+ plan difficult to reverse The OPEC+ members said the production increases are subject to market conditions and could be reversed. Struyven described OPEC's forecast as "very bullish," with Goldman forecasting demand growth of 1.5 million bpd in 2024. Market could deteriorate in 2025 The oil market will remain in balance or in a slight deficit for the time being, according to Ryan McKay, senior commodity strategist at TD Securities. Yet those cuts have failed to limit shale oil production in the U.S., Lipow said.
Persons: Goldman Sachs, Brent, WTI, Daan Struyven, Bob Yawger, Yawger, Helima Croft, Goldman's Struyven, Andrew Lipow, Struyven, Lipow, Ryan McKay, McKay, Daan Organizations: West Texas Intermediate, Goldman, OPEC, Mizuho Securities, CNBC, RBC Capital Markets, Lipow Oil Associates, TD Securities, JPMorgan Locations: OPEC, Saudi Arabia, Russia, U.S, Brazil, Guyana, Norway, Senegal, Persian, Arabian
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Persons: we've, you'll, you've, fryer, Braun, Fryer, Ninja's, Ninja, Crisp, Pick, It’s, Max, Casper, Pillow, Topper, Allbirds Organizations: Business, Apple, Day, Samsung, Walmart, Samsung TV, Amazon Sony, Amazon Samsung, Amazon, DreamCloud Sealy, Amazon ., Shop, Ninja, Sony, JBL Bluetooth, Amazon Beats, Amazon Apple, JBL, Haven, Elm, Flyers Locations: Brooklyn, France, Chewy
Tesla axes electric vehicle charging team
  + stars: | 2024-05-01 | by ( Hanna Ziady | Peter Valdes-Dapena | ) edition.cnn.com   time to read: +2 min
London/New York CNN —Tesla has abruptly fired the team running its electric vehicle charging business, raising doubts about the future of one of the largest US charging networks, which other carmakers, such as General Motors and Ford, have said they will also use. Tesla “has let our entire charging org go,” William Navarro Jameson, strategic charging programs lead at Tesla, wrote on X. Following an invitation by Tesla chief executive Elon Musk, virtually every big automaker in the United States has committed to making EVs compatible with Tesla’s charging technology, now known as the North American Charging Standard. In response, major EV charging providers such as Electrify America and EVgo have also announced they will begin building chargers with NACS cables. “What this means for the charging network, NACS and all the exciting work we were doing across the industry, I don’t yet know,” Jameson wrote in his post.
Persons: New York CNN — Tesla, Tesla “, ” William Navarro Jameson, Lane Chaplin, Tesla, Elon Musk, ” Jameson, Musk, Dan Ives, Organizations: New York CNN, Motors, Ford, The, Tesla, American, EV, Wedbush Securities, CNN Locations: London, New York, United States, America
My brother had a kidney transplant that same week, six days before I did. His new kidney came from a man we never knew who died in a car accident in the mountains. About 4,000 people die each year while waiting for a kidney. The National Kidney Foundation estimates that, without more investment in preventing diabetes and other ailments, more than one million people will be suffering from kidney failure by 2030, up from over 800,000 now. Creating a market for kidneys is not a new concept, but it’s historically been met with disgust: Sell what?
Organizations: National Kidney Foundation Locations: United States
We got a preview of this unprecedented criminal trial mixed with a presidential campaign on Thursday at a key hearing in the New York criminal case. Claiming violent crime in cites, especially those run by Democrats, is one of Trump’s favorite talking points. The idea that violent crime is at an “all-time high” is completely untrue, as CNN’s Daniel Dale wrote last October. But the judge in Manhattan has filled Trump’s calendar at the end of March, when that federal trial could theoretically have taken place. But as The New York Times notes, despite the rising number of migrants in the city, violent crime has dropped.
Persons: Donald Trump, Trump, Fani Willis, I’ve, there’s, It’s, he’s, Attorney Alvin Bragg, Karen McDougal, Michael Cohen, Stormy Daniels, Daniels, Cohen, Daniel Dale, Dale, Joe Biden’s, , Biden, Jack Smith, Bragg, Willis, There’s, Matthew Colangelo, Letitia James, Democratic Sen, Chuck Schumer, I’m, Richard Nixon, Ronald Reagan, Alexey Navalny, Vladimir Putin, ” Trump, you’re, , Nikki Haley, Haley, we’ve, let’s Organizations: CNN, New, Manhattan, Attorney, Trump, National Enquirer, American Media Inc, Enquirer, The Trump Organization, AMI, Department of Justice, New York City Police Department, Justice Department, New York, Democratic, Republican, Republicans, South Carolina Gov, GOP, Biden, New York Times, White Locations: Manhattan, New York, Georgia, Washington ,, Russia, South Carolina, Carolina, Florida, Texas, New York City,
Media entrepreneur Byron Allen says he wants to buy Paramount for $14.3 billion. Who wants to buy a big TV company these days, anyway? But investors still think it's worth less than $10 billion — meaning they don't think Allen Media is really going to end up owning Paramount. AdvertisementOne answer may simply be skepticism about Allen Media Group and its owner, TV personality-turned-entrepreneur Byron Allen. But no one, to date, has suggested that Paramount is worth anything close to $14 billion.
Persons: Byron Allen, , Allen Media Group didn't, David Zaslav, Bob Bakish, It's, Robert Fishman dryly, Shari Redstone, David Ellison, who's, Larry Ellison, Allen Organizations: Paramount, Service, Allen Media Group, CBS, MTV, Comedy Central, Allen Media, Weather Channel, ABC, BET, Denver Broncos, Bloomberg, Street Journal, Comcast, Warner Bros Discovery, Apple, Netflix, Biden, Viacom
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 3 (Reuters) - Fortinet (FTNT.O) sank 23% and sparked a selloff in cybersecurity stocks with a dismal forecast that compounded fears of slowing client spending in an uncertain economy. Fortinet cut its annual revenue target on Thursday and said it expects current-quarter sales between $1.38 billion and $1.44 billion, below estimates of $1.50 billion, LSEG data showed. Growth is also slowing in some parts of the company's business as demand normalizes after two years of rapid growth during the pandemic. Overall, five brokerages downgraded the company and at least 14 analysts cut their price targets, pushing the median to $60, LSEG data showed. It currently trades at nearly 33 times its 12-month forward earnings estimates, compared with Palo Alto's 44.6 and CrowdStrike's 54.5.
Persons: Dado Ruvic, Raymond James, Keith Jensen, Samrhitha Organizations: REUTERS, Palo, Thomson Locations: Palo Alto, Bengaluru
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 3 (Reuters) - Fortinet (FTNT.O) sank nearly 18% and sparked a selloff in cybersecurity stocks with a dismal forecast that compounded fears of slowing client spending in an uncertain economy. The current losses, if they hold, were set to wipe out nearly $8 billion from the company's market value. Fortinet cut its annual revenue target on Thursday and said it expects current-quarter sales between $1.38 billion and $1.44 billion, below estimates of $1.50 billion, LSEG data showed. Overall, eight brokerages downgraded the company and at least 18 analysts cut their price targets, pushing the median to $59, LSEG data showed. Fortinet shares have risen nearly 18% this year.
Persons: Dado Ruvic, Raymond James, Keith Jensen, Samrhitha, Sriraj Kalluvila Organizations: REUTERS, Competition, Palo, Thomson Locations: Palo Alto, Fortinet, Bengaluru
Unilever is selling Dollar Shave Club seven years after paying $1 billion for the brand. Unilever struggled to grow Dollar Shave Club, sources previously told. "Dollar Shave Club did not deliver as expected, and the economics of the DTC model changed," then-CEO Jope said during an earnings call in 2022. "Dollar Shave Club will also serve as a platform for additional brands with a similar DNA." Do you have a story idea about Dollar Shave Club or Unilever to share?
Persons: , Fabian Garcia, Michael Dubin, Mark Levine, Schick, Dubin, Graeme Pitkethly, You've, Alan Jope, hadn't, Jope, Michael Cohen Organizations: Unilever, Nexus Capital Management, NEW, Service, Care, Gillette, Schmidt's Naturals, Procter & Gamble, Club Locations: cologne
Unilever is selling Dollar Shave Club seven years after paying $1 billion for the brand. Unilever struggled to grow Dollar Shave Club, sources previously told. "Dollar Shave Club did not deliver as expected, and the economics of the DTC model changed," then-CEO Jope said during an earnings call in 2022. "Dollar Shave Club will also serve as a platform for additional brands with a similar DNA." Do you have a story idea about Dollar Shave Club or Unilever to share?
Persons: , Fabian Garcia, Michael Dubin, Mark Levine, Schick, Dubin, Graeme Pitkethly, You've, Alan Jope, hadn't, Jope, Michael Cohen Organizations: Unilever, Nexus Capital Management, NEW, Service, Care, Gillette, Schmidt's Naturals, Procter & Gamble, Club Locations: cologne
Opinion: Trudeau’s fumble on India
  + stars: | 2023-09-24 | by ( Opinion Michael Bociurkiw | ) edition.cnn.com   time to read: +7 min
CNN —It is hard to imagine any world leader wanting to share the foreign policy swamp in which the beleaguered Canadian Prime Minister, Justin Trudeau, currently finds himself. Nijjar led a group pushing for the creation of an independent Sikh homeland in northern India called Khalistan. The Biden administration can’t be blamed for prioritizing its ongoing bromance with India and Prime Minister Narendra Modi over the bilateral relationship with Ottawa. A cynic might say that prematurely publicizing the explosive findings against India is a diversion tactic to steer attention away from the China interference file and the domestic issues piling up. Or that it is simply amateur hour at the offices of the prime minister and foreign affairs.
Persons: Michael Bociurkiw, Justin Trudeau, Michael Bociurkiw Chrystia Chudczak, Trudeau’s, Trudeau, India ”, Hardeep Singh, Nijjar, Mélanie Joly, , Joly, , ” Yaroslav Baran, Biden, can’t, Narendra Modi, Joly —, Meng Wanzhou, Meng, ” Baran, Jagmeet Singh, Assembly —, Goody Organizations: Atlantic Council, Organization for Security, Cooperation, CNN, Canadian, Sikh Canadian, British Columbia, Toronto Globe, Mail, Ottawa, Huawei, Iran, UN Security Council, Canada, mojo, India —, New Democratic Party, Atlantic, UN, Assembly Locations: Canadian, Odesa, Europe, China, India, Delhi, British, Khalistan, Ottawa, Indian, Canada, Ukraine, Russian, United States, Quebec, Washington
Arm CEO Rene Haas and executives cheer, as Softbank's Arm, chip design firm, holds an initial public offering (IPO) at Nasdaq Market site in New York, U.S., September 14, 2023. Arm's Nasdaq debut on Thursday looks good for SoftBank, which just spun the company out after acquiring it in 2016. The UK-based chip design company saw its stock jump 25% to $63.59 after its IPO, lifting the company's fully diluted market cap to almost $68 billion. For now, there's not a big open market for Arm's stock. Of the $4.9 billion worth of shares SoftBank sold, $735 million were purchased by a group of strategic investors including Apple , Google , Nvidia, Samsung and Intel .
Persons: Rene Haas, Jay Ritter, there's, SoftBank, Masayoshi Son, We've, CNBC's David Faber, Matt Oguz, it's, , Oguz, Kif Leswing, SoftBank's Masayoshi, Arm's Rene Haas Organizations: Nasdaq, Wall, Nvidia, Semiconductor, U.S, University of Florida, Apple, Google, Samsung, Intel, Venture Science, AMD Locations: New York, U.S
Medicare may just be the budget buster that wasn’t. Somehow, after decades of nonstop growth, its spending per person has flattened over the past dozen years, saving taxpayers roughly $3.9 trillion since 2011, according to an Upshot analysis. But the reasons for the slowdown — and its duration — are not well understood. reduced the payments Medicare made to hospitals and to the insurance companies that administer private Medicare Advantage plans. Those changes alone are responsible for more than a trillion dollars in spending reductions, according to estimates from the Congressional Budget Office, or about a quarter of the savings attributable to the recent flat spending trend.
Persons: ” — Stephen Organizations: Affordable Care, Congressional, Office Locations: Columbus , Ohio
At a McDonald's in Orange, California, Insider found that a Quarter Pounder with Cheese meal cost $10.19. DoorDash said it encourages restaurants to "maintain delivery menu prices that more closely reflect in-store menu prices." "There is a premium associated with the delivery channel," Chipotle told Insider, adding that its delivery prices are about 30% above in-store and order-ahead menu prices. ChipotleInsider food correspondent Nancy Luna found delivery prices about 30% higher at Chipotle compared to in-store prices. "This is one reason – among many – why DoorDash encourages restaurant partners to maintain delivery menu prices that more closely reflect in-store menu prices."
Persons: DoorDash, Chipotle, Uber, Nancy Luna, queso blanco, Shouldn't, It's, McDonald's, Ashwin Kamlani, Kamlani Organizations: Service, Chipotle, Chapman University in, Wall Street Locations: Wall, Silicon, Chipotle, Orange , California, Chapman, Chapman University in Orange, queso, McDelivery, That's
New photos show Russia shielding its Tu-95 bomber jets from missiles with rows of car tires. It's the latest entry in a long list of jury-rigged Russian defenses and force protection measures. Russia recently put cages on its tanks and sunk ships along a key bridge as last-ditch defenses. Close-up analysis concluded that the patches were individual car tires, The Drive first reported, likely meant to confuse incoming Ukrainian missiles, such as the R-360 Neptune anti-ship cruise missiles that Ukraine has modified to hit land targets. That random assortment of defenses for Kerch Bridge speaks less to a cohesive strategy and more to Russia scrambling to protect against the growing threat of Ukrainian drone boat attacks.
Persons: Engels, it's, logistically, Mary, Russia's Organizations: Service, LB Locations: Russia, Wall, Silicon, Saratov, Russian, Ukraine, Kerch, Crimea, Ukrainian
We visited four Subway in Southern California to figure out how Roark can fix the brand. So I visited four Subway stores near my Southern California home. It is one of hundreds of Subway stores that have been remodeled over the years. In 2021, The New York Times conducted its lab test and published a report stating that it found no tuna DNA in Subway tuna sandwiches. I ordered the tuna sandwich at a Subway in Santa Ana, California, an aging stand-alone store in a former adobe-style Taco Bell building.
Persons: Roark, Dunkin, Fred DeLuca, Jared Fogle, It's, haven't, Nancy Luna, Burger King, , Tim Powell, Powell Organizations: Roark Capital, Buffalo Wild Wings, Service, Subway, Royce, Owners, The New York Times, Chapman University Locations: Southern California, Wall, Silicon, Jersey, North America, Miami, Orange , California, Santa Ana , California, Orange
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