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☆ CNBC Daily Open: Nvidia unseats Microsoft as world's most valuable company
▼ + stars: | 2024-06-19 | by ( Abid Ali | ) www.cnbc.com time to read: +5 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The shift presents challenges for tech-focused ETFs and could affect their holdings of heavyweights like Nvidia , Microsoft , and Apple . Markets are pricing in at least two rate cuts this year, while Fed officials have indicated only one rate cut is likely. Nvidia takes the crown Nvidia on Tuesday surpassed Microsoft to become the world's most valuable public company with a market cap of $3.34 trillion. Federal Reserve Governor Adriana Kugler signaled the likelihood of a rate cut later this year.

Persons: Dave Calhoun, Josh Hawley, Calhoun, Hawley, Paul Ashworth, Susan Collins, Collins, Adriana Kugler, " Kugler, Jeff Cox, Cox, Claudia Sahm, —, Kif Leswing, Bob Pisani, Leslie Josephs, Alex Harring, Samantha Subin, Spencer Kimball, Yun Li, Lim Hui Jie Organizations: New York Stock Exchange, CNBC, Nvidia, Microsoft, Apple, Federal Reserve, Fed, Boeing, Federal, North, Capital Economics, Boston Federal, Peterson Institute for International Economics Locations: New York City, U.S, North America, Boston, Lawrence , Massachusetts, Washington

☆ An NYU freshman is suing her roommate, accusing her of stealing over $50,000 of her luxury belongings
▼ + stars: | 2024-06-18 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +1 min

The 19-year-old daughter of a Russian mining magnate is suing her NYU roommate. The lawsuit claims the roommate stole about $51,000 worth of luxury items, including a ruby ring. According to the suit, she sold some of the items on The RealReal — a secondhand marketplace. AdvertisementAurora Agapov, the daughter of a Russian-American mining magnate, has accused her New York University roommate of stealing more than $50,000 worth of luxury handbags and jewelry from her. In a lawsuit filed on May 31 in Manhattan's Supreme Court, Agapov, a 19-year-old freshman, claimed that her 18-year-old roommate, Kaitlyn Fung, sold some of the items on The RealReal — a secondhand luxury marketplace.

Persons: —, Kaitlyn Fung Organizations: NYU, Service, New York University, Business Locations: Manhattan's

☆ Planning for retirement? These stocks make 'great long-term investments,' according to the pros
▼ + stars: | 2024-06-18 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

But investors with a greater risk appetite or a longer runway to retirement can consider stocks. CNBC Pro asked the experts what stocks they would buy that are suited to long-term investing for retirement purposes. Dziubinski named three stocks which she says look undervalued but will make "great long-term investments" at current prices. Starbucks Dziubinski says Starbucks ' brand and pricing power have earned it a wide economic moat rating, which according to the firm refers to a company's durable competitive advantage. Wheaton Precious Metals Regal Point Capital's Marolia named Wheaton Precious Metals as a stock with long-term potential.

Persons: Susan Dziubinski, Dziubinski, Vijay Marolia, Morningstar, Marolia, it's, Wheaton, we've, we're Organizations: Morningstar, CNBC Pro, Regal Point, Consumer, Johnson, Brands, Nike Nike, Nike, Wheaton Precious, Wheaton Precious Metals, Blackstone Group

☆ Nvidia passes Microsoft in market cap to become most valuable public company
▼ + stars: | 2024-06-18 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Nvidia , long known in the niche gaming community for its graphics chips, is now the most valuable public company in the world. Shares of the chipmaker climbed 3.2% in mid-day trading on Tuesday, lifting the company's market cap to $3.33 trillion, surpassing Microsoft . Earlier this month, Nvidia hit a $3 trillion market cap for the first time, and passed Apple . Founded in 1991, Nvidia spent its first few decades primarily as a hardware company that sold chips for gamers to run 3D titles. Nvidia is a newcomer to the title of most valuable U.S. company.

Persons: It's, Jensen Organizations: Nvidia, Microsoft, Apple, Forbes, Windows, Dow Jones, Dow Locations: OpenAI, U.S

Morgan Stanley lowered its price target on Nike. Meanwhile, UBS upgraded Best Buy to buy from neutral. — Brian Evans 6:45 a.m.: UBS upgrades Newmont UBS thinks rising gold prices into 2025 can help lift Newmont Corporation moving forward. — Brian Evans 6 a.m.: UBS upgrades Best Buy, forecasts outperformance ahead UBS thinks a potential forthcoming appliance upgrade cycle as well as new product offerings could lift Best Buy stock. The bank reiterated its overweight rating on shares but trimmed its price target to $114 from $116.

Persons: Morgan Stanley, Goldman Sachs, Toll, Susan Maklari, — Brian Evans, Daniel Major, Major, Michael Lasser, Lasser, BBY, Alex Straton, Fred Imbert Organizations: CNBC, Nike, UBS, Newmont, Dow Jones

☆ Australia's Albanese, China's Li hold 'candid' talks
▼ + stars: | 2024-06-17 | by ( ) www.cnbc.com time to read: +3 min

China's Premier Li Qiang (L) and Australia's Prime Minister Anthony Albanese shake hands during a signing ceremony at Parliament House in Canberra on June 17, 2024. This dialogue has allowed us to build a deeper awareness of our respective interests," Albanese said in opening remarks. After the meeting, Li told reporters the leaders held a "candid, in-depth and fruitful meeting and reached a lot of consensus". Albanese told reporters after the meeting the two countries had revitalized engagement and he was "determined to keep growing our relationship where we can." watch nowOn regional issues, he had told Li that "Australia advocates that we should all work together to promote a regional balance where no country dominates and no country is dominated".

Persons: Li Qiang, Anthony Albanese, Lukas Coch, Li, Xi Jinping, " Albanese, Albanese, Gong, Tenzin Wougyal Organizations: Australia's, House, AFP, Getty Locations: Canberra, Australian, Beijing, Australia, China, Hong Kong

☆ ‘Wheatfield’: Agnes Denes has reimagined her landmark artwork
▼ + stars: | 2024-06-17 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +10 min

Out west, Denes hopes to plant seeds of community with the help of the project’s host, Tinworks, an arts organization in the rapidly developing city of Bozeman. “Wheat is wonderful — it sustains humanity and is probably the most planted food next to rice. Jenny Moore/TinworksSome 200 packets of wheat were also distributed among Bozeman residents to grow concurrently with Denes' field. “Can you imagine if I could have realized 20 or 30?”Sowing seeds for changeAs with “Wheatfield,” seeds have often served as potent symbols for Denes. Courtesy Agnes Denes/Leslie Tonkonow Artworks + ProjectsWith “Wheatfield – An Inspiration,” like with all her work, Denes strives for nuance and to engender change through visitors and participants who take something meaningful from the work.

Persons: Agnes Denes, —, CNN —, Denes, Bozeman . Wheat, ” Denes, ”, Blair, Jenny Moore, Tinworks, Kenny Van Dyke, “, ” Moore, Agnes, Moore, I’d, it’s, Leslie Tonkonow, … Organizations: CNN, Art Basel, Bozeman ., Bozeman, Tinworks, Montana, “ Locations: Lower Manhattan, Montana, Wheatfield, Budapest, New York, Battery Park City, Milan, Switzerland, Bozeman, Montana State, Ylojarvi, Finland, ”, Sullivan County , New York, Lewiston, Niagara, Long Island , New York, Kassel, Germany, Istanbul, Egypt, Queens , New York, “ Wheatfield

☆ Travel news: Sardinia offers free accommodation to young hikers
▼ + stars: | 2024-06-15 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +5 min

Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. CNN —In travel news this week, new hiking programs in Italy, America’s best restaurants and chefs and how to bear-proof your picnic. Hiking in ItalyThe Proclaimers were willing to walk 500 miles for their dream, but the under-35s only have to embark on a 500-kilometer (311-mile) walking route to qualify for three nights’ free accommodation in Sardinia, Italy. The accommodation vouchers are valid from September 15 to the end of the year, so start planning now. CNN Travel celebrates the best barbecue from around the world.

Persons: James Beard, CNN It’s, Yogi Bear, they’re, It’s Organizations: CNN, Palma de Mallorca Airport, Austrian Airlines, Palma de Mallorca, Oakland Zoo, China Eastern Airlines, CNN Travel Locations: Italy, Sardinia, Cammino, Santa Barbara, Chicago, Denmark, French Polynesia, India, Nepal, Greece, China, Spain, Austrian, Palma, Vienna, Austria, California, Florida

☆ The 4 key things we're watching in the stock market this holiday-shortened week
▼ + stars: | 2024-06-15 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Also helping was the 8.5% rally in portfolio heavyweight Nvidia following its 10-for-1 stock split on Monday. Within the Club this week, we heard from Broadcom , which reported strong quarterly results and announced its own 10-for-1 stock split. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Economists, Jerome Powell, financials, That's, Here's, FactSet, Lennar, LEN, Jabil, Smith, Jim Cramer's, Jim Cramer, Jim, Brendan McDermid Organizations: Nasdaq, Dow Jones, Wednesday, PPI, Apple, Broadcom, Oracle, Adobe, Nvidia, Investors, Housing, Monday, Darden, Olive Garden, Longhorn, U.S, Accenture, Kroger, KR, Wesson, Jim Cramer's Charitable, CNBC, Federal Reserve, New York Stock Exchange Locations: U.S, Olive, New York City

☆ Risky bet in this global hydrogen fuel cell maker could net investors 160%, says RBC
▼ + stars: | 2024-06-13 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Shares of AFC Energy , a provider of hydrogen-fueled power generation technologies, is expected to more than double over the next year, according to RBC Capital. The London-listed company, founded in 2006, makes a range of proprietary hydrogen fuel cell systems aimed at off-grid and remote power generation for construction, mining, and transportation industries. U.K. shares are generally priced in pence, with 100 pence equal to one British pound ($1.28). The 30-kilowatt generators consume hydrogen for fuel and will be available to customers in the U.K. through its joint venture with equipment hire firm Speedy Hire . The three-year deal with Speedy Hire — under its Speedy Hydrogen Solutions brand — will target U.K. and Irish construction and emergency power markets.

Persons: Erwan Kerouredan, Victoria McCulloch, Saudi Arabia's Organizations: AFC Energy, RBC Capital, RBC, AFC, Saudi, Speedy Hire Locations: London, British, United States, Germany, East, North Africa, Saudi

☆ Miners are selling their bitcoin again as the cryptocurrency struggles to hold onto $70,000
▼ + stars: | 2024-06-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

According to data from CryptoQuant, the flow of bitcoin leaving miners wallets for exchanges – which indicates a selling event – reached a two-month high last weekend. Additionally, miner selling through over-the-counter desks saw its biggest daily volume since late March. CryptoQuant shows the hourly transfer of bitcoin from miners to exchanges rose to more than 3,000 bitcoins on June 9. "Daily bitcoin miner revenues stand today at about $35 million, down 55% from their 2024 peak reached in March." That's mostly as a result of "depressed" transaction fees, however, rather than the slashing of miners' block reward at the halving.

Persons: –, Mike Colonnese, Wainwright, we're, Bitcoin, Julio Moreno, Moreno, Colonnese, Iris, Iren, They've Organizations: H.C, Iris Energy Locations: CryptoQuant

☆ Bitcoin miners at Donald Trump's closed-door event say he thinks bitcoin can help win AI arms race
▼ + stars: | 2024-06-13 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

Less than four hours after Trump's roundtable wrapped, the former president took to social media to extol the virtues of the bitcoin mining business. "Bitcoin mining may be our last line of defense against a CBDC," Trump posted shortly before midnight on Tuesday. "That's where you've got all these ancillary jobs; it's not just the bitcoin mining directly," said Cook. Enter bitcoin miners. Adding bitcoin miners to the portfolio of energy buyers has helped to improve the core economics of renewable power production.

Persons: Donald Trump, Eva Marie Uzcategui, —, New York —, Jason Les, Bitcoin, Bill Hagerty, David Bailey, Trump, Bailey, Sen, Elizabeth Warren, Les, Warren, Geoff Kendrick, bitcoin, Matthew Schultz, Jayson Browder, Brian Hughes, Biden, Harris, Andreessen Horowitz, Ron Conway, Fred Wilson, Cameron, Tyler Winklevoss, Schultz, Browder, CleanSpark, Coke, Chris Cook, Cook, There's, Amanda Fabiano, Fabiano, Marathon's Browder, We've, Exacore's Cook, you've, it's, Digital's Browder Organizations: U.S, Mar, Lago, Trump, Riot, Marathon Digital Holdings, Arkon Energy, Cholla Energy, Exacore, CNBC, Senate's Banking, Finance, China, BTC Inc, Radical Communist, Democratic, Trump —, solana, Internal Revenue Service, Libertarian National Convention, Standard Chartered, Circuits, Government Affairs, Federal Reserve, Biden, U.S . Treasury Department, Republican, NASDAQ, Fabiano Consulting Locations: Lago, West Palm Beach , Florida, New York, Palm Beach , Florida, bitcoin, China, Russia, U.S, America, Washington, San Francisco, Beijing, Marathon, United States, West Texas

☆ These top ETFs and funds are beating the S&P 500 — and analysts still see further upside
▼ + stars: | 2024-06-12 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

The first half of the year has generally been good for the market, with the S & P 500 and the Nasdaq repeatedly reaching record highs. Year-to-date, the S & P 500 is up around 13% and the Nasdaq has risen 14.9%. Against that uncertain backdrop, investors might be looking at exchange-traded funds or mutual funds to diversify their investments. Morningstar provided the list of top-performing funds, which all beat the S & P 500. Using FactSet, that list was screened for funds that analysts give 10% or more upside, and that at least half give a buy rating.

Persons: Thomas Poullaouec, Rowe Price, Ed Clissold, Ned Davis, Morningstar, Richard Bernstein Organizations: Nasdaq, U.S . Federal Reserve, Ned, Ned Davis Research, CNBC Pro, Copper Miners, X Copper Miners, Industrial, Richard Bernstein Advisors Locations: Asia, Pacific, U.S, Turkey

☆ Cash-Strapped Ukraine Plans to Sell State Assets to Help Fund War Effort
▼ + stars: | 2024-06-12 | by ( Constant Méheut | Daria Mitiuk | ) www.nytimes.com time to read: 1 min

Towering over Kyiv for six decades, Hotel Ukraine has witnessed some pivotal moments in Ukraine’s recent history. Today, blue and yellow flags cover lawns near the hotel, serving as a reminder of the many lives lost in the war between Ukraine and Russia. Now, Hotel Ukraine is up for auction as part of an effort to sell off some large state assets to help fund the military and bolster an economy battered by a grueling war that has drained the country’s coffers. The starting price for Hotel Ukraine is $25 million. Beginning this summer, the government will auction some 20 state-owned companies, including Hotel Ukraine, a vast shopping mall in Kyiv, and several mining and chemical companies.

Organizations: Soviet Union, Ukrainian, Hotel Ukraine, Hotel Locations: Kyiv, Ukraine, Soviet, Russia, Hotel Ukraine

☆ Australian billionaire proposes secure gate system to supply aid to Gaza
▼ + stars: | 2024-06-11 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +6 min

Brisbane, Australia CNN —An Australian billionaire is offering to build a secure gate system on the Israel-Gaza border that he says could allow 10,000 metric tons of food aid to be delivered each day to starving Palestinians. He’s also committed $5 million to improve the Jordanian humanitarian land corridor by building storage warehouses to allow more aid to pass to Gaza. Cargo trucks carrying humanitarian aid move through security inspections before crossing into the Gaza Strip, in Kerem Shalom, Israel on March 14. The IDF has repeatedly said hundreds of trucks carrying humanitarian aid have been entering the Gaza Strip, but aid organizations say the supplies are not reaching civilians in need. The passage of aid into Gaza has become gridlocked by Israeli inspections, and in some cases the temporary closure of access points.

Persons: Australia CNN —, Andrew Forrest, Antony Blinken, He’s, ” Forrest, Minderoo, Forrest, Israel, Fortescue, Marcus Yam Organizations: Australia CNN, Minderoo Foundation, United Nations, US, CNN, Cargo, Los Angeles Times, Israel Defense Forces, Ministry of Health, IDF, United Nations Security, Systems, NET, US Agency for International Development Locations: Brisbane, Australia, Israel, Gaza, Jordan, Egypt, Kerem Shalom, airdrops

☆ I explored an Arizona ghost town with an abandoned dentist's office, schoolhouse, and laundromat. The spot felt like stepping back in time.
▼ + stars: | 2024-06-11 | by ( Monica Humphries | ) www.businessinsider.com time to read: +1 min

On a recent road trip across the American West, I made a stop at The Gold King Mine and Ghost Town. The ghost town is part of the mining town of Haynes, Arizona. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementI will never turn down a visit to a ghost town. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Town, Service, Business Locations: Haynes , Arizona, Colorado

☆ Norway discovers Europe's largest deposit of rare earth metals
▼ + stars: | 2024-06-11 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Mining firm Rare Earths Norway says it has discovered Europe's largest proven deposit of highly prized rare earth elements, potentially reflecting a watershed moment for both the Nordic country and the broader region. One of the few deposits not owned or controlled by China, the discovery of continental Europe's largest rare earths deposit is considered a welcome boost in Europe's bid to break China's rare earths dominance. Alf Reistad, CEO of Rare Earths Norway, told CNBC that the discovery at Fen represents a "great milestone" for the company. "It is important to state that there is absolutely no extraction of rare earth elements in Europe today," Reistad said via videoconference on Monday. Rare Earths Norway said the rare earths deposit in Telemark, roughly 210 kilometers (130 miles) southwest of Oslo, is likely to underscore Norway's position as an integral part of Europe's rare earth and critical raw material value chain.

Persons: Alf Reistad, Reistad Organizations: Tech Co, Mining, Nordic, Rare, Norway, CNBC Locations: Mongolia, Baotou, Inner Mongolia, China, Norway, Sweden, Europe, videoconference, Telemark, Oslo

☆ Here are Tuesday's biggest analyst calls: Apple, Nvidia, Uber, Shopify, Tesla, Ford, Alphabet, Pepsi, Broadcom & more
▼ + stars: | 2024-06-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating following the company's Worldwide Developers Conference. Baird reiterates Tesla as outperform Baird said it's sticking with its outperform rating heading into Thursday's shareholder meeting. "We are initiating coverage of Bitdeer Technologies Group (BTDR) with an Overweight rating and $13 PT." We argue the former, initiating coverage with an Outperform rating and $50 TP." Barclays reiterates PepsiCo as overweight Barclays said it's sticking with its overweight rating on the stock despite a bumpy macro in the salty snacks category.

Persons: Morgan Stanley, Apple, WWDC, Oppenheimer, Ford, Baird, Tesla, Evercore, Cantor Fitzgerald, Cantor, Piper Sandler, Piper, it's, it's bullish, Bernstein, BTIG, D.A, Davidson, Citi, Uber Organizations: Nets, Apple, JPMorgan downgrades, JPMorgan, Nvidia, Bitdeer, Bitdeer Technologies, Citi, Broadcom, VMware, Barclays, DA, PepsiCo Locations: JPMorgan downgrades Cleveland, Cleveland, Delaware, China

☆ US-made Abrams tanks are fighting a dangerous new kind of war, but Ukrainians are building unusual armor to help them survive it
▼ + stars: | 2024-06-11 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

However, one Ukrainian company is building steel screens that can offer the tanks an extra layer of protection. For more than a year and a half, the company has been making protective steel screens for Kyiv's aging T-64 and T-72 tanks. Related VideoJust a few weeks ago, this operation expanded to the Abrams tanks, US-made armor designed and developed during the Cold War to fight the Soviet tank threat. An M1 Abrams tank with protective screens in May. The jury is still out for the Abrams tanks, as they were only recently given the added protection.

Persons: —, Abrams, Oleksandr Myronenko, Christian Carrillo, Metinvest, Myronenko, it's Organizations: Service, Abrams, Business, Metinvest, M1A1, US, Spc, Soviet, Bradley Fighting Locations: Ukraine, Ukrainian, Zaporizhzhia, Germany, Russia, Soviet

☆ An activist investor with a new $1.9 billion stake in Southwest is calling for big changes at the airline
▼ + stars: | 2024-06-10 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

However, Elliott Investment Management said Monday that the airline's decades-old strategies weren't working in modern times, and it's calling for a management and board-of-directors overhaul as part of a plan it's calling "Stronger Southwest." This story is available exclusively to Business Insider subscribers. Elliott said Southwest leadership had a "rigid commitment" to the model it dreamed up decades ago, blaming that for today's shortcomings. Elliott Management, which oversees $66 billion in assets, is one of the world's most feared activist hedge funds. "The significant investment we have made reflects our conviction that, with the right leadership, Southwest can regain its status as an industry-leading airline."

Persons: —, Elliott, Elliot, Raymond James, Savanthi Syth Organizations: Service, Airlines, Elliott Investment Management, Business, Southwest, Elliott Management, Texas Instruments

☆ Gold is getting harder to find as miners struggle to excavate more, World Gold Council says
▼ + stars: | 2024-06-10 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

An employee arranges gold bars for a photograph at the YLG Bullion International headquarters in Bangkok, Thailand. The gold mining industry is struggling to sustain production growth as deposits of the yellow metal become harder to find, according to the World Gold Council. According to data from the international trade association, mine production inched up only 0.5% in 2023 compared to a year ago. In 2022, the growth was 1.35% year on year, the year before it was 2.7%, while in 2020, global gold production logged the first decline in a decade, sliding 1%. New gold deposits are becoming harder to find around the world as many prospective areas have already been explored, he elaborated.

Persons: We've, we've, John Reade, Reade Organizations: World Gold Locations: Bangkok, Thailand

A Southwest Airlines jet comes in for a landing at Laguardia Airport in New York City, New York, U.S., January 11, 2023. Activist hedge fund Elliott Management has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadership changes at the airline that has lagged big rivals. Elliott said it intends to "pursue all available pathways to deliver the leadership changes" the activist believes Southwest needs. Jordan and Kelly have "presided over a period of stunning underperformance at" Southwest, Elliott said. In just the last few months, the activist has taken a $2.5 billion stake in semiconductor firm Texas Instruments , a $2 billion stake in Japanese conglomerate SoftBank and a $1 billion stake in mining concern Anglo American .

Persons: Elliott, Bob Jordan, Gary Kelly, Jordan, Kelly, Henry Harteveldt, Elliott's Organizations: Southwest Airlines, Laguardia, Elliott Management, Southwest, Delta Air Lines, United Airlines, CNBC, Atmosphere Research, Boeing, Crown, Texas Instruments Locations: New York City , New York, U.S, Southwest, Texas

☆ A crypto trading platform that recruited users through prayer circles was a pyramid scheme that made $1 billion for its 'Reverand CEO,' lawsuit says
▼ + stars: | 2024-06-09 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +4 min

Now, the New York attorney general says NovaTechFx is just a front for a $1 billion pyramid scheme. The lawsuit also names as a defendant AWS Mining Pty, a crypto mining platform previously run by the Petions. The lawsuit accuses the couple of targeting Haitian immigrants in New York City to recruit them into the pyramid scheme using local prayer circles. After founding NovaTechFx in 2019, Cynthia Petion rebranded herself as the "Reverend CEO," claiming that her company was "God's vision," the lawsuit says. The Petions also operated the NovaTechFx website, which the lawsuit says is where investors would go to invest in cryptocurrency through the company, according to court documents.

Persons: —, NovaTechFx, Leticia James, Eddy Petion, Cynthia Petion, mindlessly, James, Renold Julien, Konbit Organizations: Service, New, New York, New York Supreme, AWS Mining, Business, Yorkers, Mining Locations: New York, New York City, cryptocurrency, Haitian, United States

☆ Gold mining industry is struggling to report sustained growth in production: World Gold Council
▼ + stars: | 2024-06-06 | 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 EmailGold mining industry is struggling to report sustained growth in production: World Gold CouncilJohn Reade, chief market strategist at the World Gold Council, says "it's getting harder to find gold, permit it, finance it and operate it."

Persons: John Reade Organizations: World Gold

India's stock market has been topsy-turvy in the past week. WealthMills Securities' equity market strategist Kranthi Bathini says "India's stock markets need stable policy continuity going forward." "The Union Budget has consistently increased allocations for infrastructure development. Strong digital economy and startup ecosystem Another longer-term theme on Sengupta's radar is the digital economy and startup ecosystem. Riding the consumer wave Aside from sectors poised for growth, WealthMills Securities' Bathini suggests looking out for names set to benefit from the strong consumer.

Persons: turvy, Narendra Modi's, Modi, Dhruba Jyoti Sengupta, Kranthi Bathini, Sengupta —, Sengupta, Bathini Organizations: Narendra Modi's Bharatiya Janata Party, BJP, Lok Sabha, Wrise, CNBC Pro, BSE, Bombay Stock Exchange, WealthMills Securities, Budget, Hindustan, Indian Railway Catering, Tourism Corporation, Indian, Construction, Titagarh, Systems, India, Canara Bank, Bajaj Finance, Securities, Hindustan Aeronautics, Tata Motors, Reliance Industries Locations: Lok, Asia, East, Europe, India, uptrend

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