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Ken Griffin, chief executive officer and founder of Citadel Advisors LLC, speaks during an Economic Club of New York event in New York, US, on Thursday, Nov. 21, 2024. Citadel CEO Ken Griffin issued a warning against the steep tariffs President-elect Donald Trump vowed to implement, saying crony capitalism could be a consequence. "I am gravely concerned that the rise of tariffs puts us on a slippery slope towards crony capitalism," the billionaire investor said Thursday at the Economic Club of New York. Crony capitalism is an economic system marked by close, mutually advantageous relationships between business leaders and government officials. At the same event, Griffin also said that he's not focused on taking Citadel Securities public in the foreseeable future.
Persons: Ken Griffin, Donald Trump, Griffin, Trump, he's, We're Organizations: Citadel Advisors, Economic, of New, Citadel, Citadel Securities Locations: of New York, New York, America, Washington
Matt Gaetz, who faced a torrent of scrutiny over allegations of sex trafficking and drug use, abruptly withdrew his bid to become attorney general on Thursday in the first major political setback for President-elect Donald J. Trump since his election this month. The collapse of Mr. Gaetz’s prospective candidacy just 16 days after the election appeared to be the earliest such failed cabinet pick in modern history and underscored the haphazard way that Mr. Trump has gone about assembling his new administration. He picked Mr. Gaetz almost on a whim last week without extensive vetting, knowing that allegations were out there, but essentially daring Senate Republicans to accept him anyway. Mr. Trump moved quickly to replace Mr. Gaetz with another conservative favorite. By the day’s end, he announced on social media that he planned to nominate Pam Bondi, the former attorney general of Florida and one of his defense lawyers in his first impeachment trial, to be U.S. attorney general.
Persons: Matt Gaetz, Donald J, Trump, Gaetz, Pam Bondi Organizations: Senate, Justice Department Locations: Florida
Former Trump FBI deputy director and CNN senior law enforcement analyst Andrew McCabe said Thursday that Rogers would be a “totally reasonable, logical selection” to nominate to lead the agency, pointing to his knowledge of the intelligence community and his experience at the FBI. CNN has reached out to the Trump transition team and the FBI for comment. Sources previously said that Patel had been lobbying for the FBI director position, where he would be well-positioned to try to investigate Trump’s political enemies, declassify sensitive information and purge career civil servants. He also briefly considered installing Patel as deputy FBI director in the closing weeks of his first administration. The deputy FBI director job is a career position – not a politically appointed role – and then-Attorney General William Barr helped talk Trump out of putting Patel at the bureau at the time.
Persons: Donald Trump, MAGA, Trump, Christopher Wray, Matt Gaetz, Mike Rogers, Kash Patel, haven’t, Andrew McCabe, Rogers, McCabe, Patel, , that’s, ” McCabe, Gina Haspel, , William Barr, CNN’s Sara Murray, Zachary Cohen, Evan Perez, Pamela Brown, Kaanita Iyer Organizations: CNN, FBI, Michigan, Senate, Former Trump FBI, Trump Locations: Lago, Florida
Donald Trump’s team has construed his victory as a mandate for carrying out what it has described as mass deportations. The constraints on a mass deportation operation are logistical more than legal. So the question is not whether mass deportation will happen. It’s how big Mr. Trump and his administration will go, and how quickly. How far are they willing to bend or break the rules to make their numbers?
Persons: Donald Trump’s, Trump, Stephen Miller, Tom Homan, Trump’s Organizations: Department of Homeland Security
AdvertisementBox CEO Aaron Levie said Democrats should embrace Elon Musk. Levie, who supported Kamala Harris, said he thinks Musk is uniquely qualified to support innovation. In an interview with Business Insider, Levie explained why he thinks Democrats should make an effort to embrace Musk, and how he thinks it would benefit American innovation. Levie supported Vice President Kamala Harris for president, donating to her campaign as well as President Joe Biden's before he dropped out of the race. He said he thinks Musk would be uniquely able to identify things that get in the way of progress in those areas.
Persons: Aaron Levie, Elon Musk, Kamala Harris, Levie, Joe Biden's, didn't, Donald Trump, Musk, Hillary Clinton, Joe Biden, Biden, Tesla, EVs, he'd, Sen, Chris Coons, " Coons, Coons, Pete Buttigieg, Helene, Buttigieg, Vivek Ramaswamy, Ramaswamy, Musk's Organizations: Democratic, Business, Democratic Party, Republicans, SpaceX, Twitter, White, Ford, GM, Tesla, EVs, Republican, Fox, Department of Government Efficiency, Transportation, Elon, Politico, Department of Government, Department of Defense Locations: Delaware
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump 2.0 could lead to a fragmented EU, says Eurasia Group presidentIan Bremmer, president and founder of Eurasia Group, discusses what President-elect Donald Trump's return to the White House could mean for U.S. relations with the European Union.
Persons: Ian Bremmer, Donald Trump's Organizations: Trump, Eurasia Group, European Union Locations: Eurasia
AdvertisementIn recent years, young Americans moved to rural areas at rates not seen in decades. But that doesn't mean they're turning rural counties red. In the years leading up to the election, young people flocked from urban areas to rural counties at record rates — but they didn't necessarily bring their big-city politics with them. The colored swing column in the table shows the percentage point change in vote share for Trump between 2020 and 2024. Those who did vote went more conservative.
Persons: Gen Zers, University of Virginia demographer Hamilton Lombard, , Jed Kolko, Kolko, Millennials, Zers —, Kamala Harris, Joe Biden's Organizations: Trump, The New York Times, University of Virginia, Democratic, Republican, CNN, Information, Research, Civic, Economic Locations: Hays County , Texas, New York
The fate of MSNBC could be in Trump’s hands
  + stars: | 2024-11-21 | by ( Matt Egan | ) edition.cnn.com   time to read: +6 min
It’s true that analysts expect the Trump administration to generally be less hostile to mergers. Yet it’s also true that some Republicans – including some tapped to join the Trump administration – have been described as “Khanservatives” because they’ve called for tougher, not weaker, antitrust scrutiny. Earlier this year, Gaetz told NOTUS that the FCC chair’s work “inspired me” and he expressed hope she stays in power for a Trump administration. As Gaetz fights to survive a tough nomination process to be attorney general, Comcast dropped a bombshell in the media industry by spinning off MSNBC, CNBC, USA, Oxygen and other networks. “It’s hard not to look at the spinoff of CNBC and MSNBC as potentially a response to the new administration,” said Petro.
Persons: Donald Trump’s, Trump, Donald Trump, ” Craig Moffett, MoffettNathanson, Brendan Carr, Trump’s, Kamala Harris, Carr, Skydance’s, , Moffett, Jeffrey Sonnenfeld, Sonnenfeld, Gaetz, Vance, Lina Khan, it’s, they’ve, JD Vance, Khan, Biden, Matt Gaetz, NOTUS, , Brian Roberts, Will Trump, Frank Louthan, Raymond James, It’s, Louthan, Lee Petro, Dickinson, it’s “, Petro Organizations: New, New York CNN, Department, T’s, CNN, Timer Warner, Trump, Comcast, MSNBC, CNBC, NBC, DOJ, Federal Communications Commission, FCC, Paramount, Fox News, CBS, Yale, Leadership, Time Warner, Biden, Federal Trade, , Washington DC Locations: New York, Florida, USA
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Wu Cheng-wen told Nikkei Asia that "AI sovereignty" is critical and benefits Taiwan's security. Taiwan is planning to spend about $1 billion a year on artificial intelligence as part of its efforts to shift its economy away from semiconductors. On Thursday, Taiwan's science and technology minister told Nikkei Asia that the government would spend $3 billion over 3 years to ramp up AI data centers and their computing ability. AdvertisementThe move comes as the country is not only trying to diversify its economy toward industries like AI, but also away from China. AdvertisementWu told Nikkei Asia that he is looking forward to cooperating with the US after Trump takes office in January.
Persons: Wu Cheng, Wu, Donald Trump's, TSMC Organizations: Nikkei, Financial Times, Taiwan Semiconductor Manufacturing Co, Reuters, China, Bloomberg, US, Trump Locations: Taiwan, Nikkei Asia, China, India, Arizona
Florida Man Matt Gaetz was announced as Donald Trump’s pick for attorney general on a Wednesday. Eight days later, his complete unfitness for the job had become so undeniable and insurmountable that he withdrew from consideration. Trump’s decision to put him forward was an early, gross test for the president-elect’s entire Senate team. And while the Senate has been trending Trumpier as well, the transformation is not yet complete. With Gaetz, the MAGA king was watching to see if there was a line that his Senate subjects would not yet cross.
Persons: Matt Gaetz, Donald Trump’s, Gaetzgate, Trump, MAGA Organizations: Florida, Senate, Republican, Republican House
Allcargo is optimistic on growth despite Trump 2.0 tariff risk
  + stars: | 2024-11-21 | 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 EmailAllcargo is optimistic on growth despite Trump 2.0 tariff riskRavi Jakhar of Allcargo Group notes that despite potential tariff risks from Trump 2.0, trade flows will remain robust, and manufacturing and consumption will remain present. He remains optimistic about future growth, with opportunities for Allcargo to expand into other markets and capitalize on evolving trade dynamics.
Persons: Ravi Jakhar Organizations: Trump, Allcargo
Deportation often hinges on diplomacy – and has been a steep challenge for the US when dealing with countries where there are frosty relations. Taken together, it’s a return to a hardline approach meant to get countries receiving deportees to comply and attempt to curb migration. But sources close to and involved in discussions argue they’ve identified the incentives and pressure points to have countries cooperate. The executive actions and reviews underway by the Trump team include the return of the program informally known as “remain in Mexico,” which requires migrants to stay in Mexico during their immigration proceedings in the US. “A second-term Trump administration will expand ‘burden-sharing’ deals with Honduras, Guatemala and El Salvador that cut off pathways to the US for asylum-seekers.
Persons: Donald Trump’s, Trump, it’s, they’ve, Biden, , they’re, “ It’s, Claudia Sheinbaum, Trump’s, El, Nayib Bukele, , Andrew Selee, CNN’s Phil Mattingly Organizations: Washington CNN —, , Western Hemisphere, Governments, Trump, Northern, Policy Institute Locations: America, United States, Mexico, Panama, Darien, Venezuela, China, Guatemala, El Salvador, Honduras, Angeles
This booming period marked by strong economic growth and robust market returns could extend into 2025, according to UBS, which is calling for the S & P 500 to rise as high as 7,000 in its most optimistic, bullish case. "The market and economic developments have led some to term the decade so far as the 'Roaring 20s,' marked by high economic growth, strong market returns, and improving productivity," Mark Haefele, UBS Global Wealth Management chief investment officer, said in a note to clients. .SPX YTD mountain S & P 500 The Wall Street bank set its base case of a 6,600 S & P 500 target for 2025, or about 10% upside from current prices. For its bull case, the equity benchmark could climb to 7,000 by year end 2025, a 16% gain from current levels. The S & P 500 appears set to wrap up a strong 2024 with a bang, thanks to optimism toward President-elect Donald Trump 's market-friendly policies.
Persons: Mark Haefele, Donald Trump, Haefele Organizations: UBS, UBS Global Wealth Management
CNN —Hours after his first pick to run the nation’s top law enforcement agency dropped out, President-elect Donald Trump named former Florida Attorney General Pam Bondi as his new choice to run the Justice Department. Trump met in person with Bondi at Mar-a-Lago before officially offering her the job, a source familiar told CNN. Democratic lawmakers accused Bondi of declining to pursue an investigation into Trump University fraud allegations after receiving the donation. … I never said I don’t like gay people.”After leaving the Florida attorney general’s office, Bondi joined Ballard Partners, a lobbying firm with deep ties to Trump and Wiles. The family told The Tampa Bay Times that Bondi stole the dog, while Bondi accused the family of neglect.
Persons: Donald Trump, Pam Bondi, Trump, Matt Gaetz, ” Trump, Pam, ” Bondi, Gaetz, Trump’s, , Susie Wiles, Boris Epshteyn, Jeff Sessions, Bondi, CNN’s Anderson Cooper, , , ” Cooper, , Wiles, Jack Smith, , Aileen Cannon, Bernard, Master Tank, Tank Organizations: CNN, Justice Department, of Justice, DOJ, FIRST, Florida Republican, Senate, Bondi, Trump, Democratic, Trump University, Center, Litigation, Policy Institute, Fox News, Obamacare, Ballard Partners, Foreign, Hurricane, Tampa Bay Locations: Florida, Bondi, Mar, Trump, Tampa, Qatar, Louisiana, Tampa Bay Times
AdvertisementThe DOJ has asked the judge in its antitrust case against Google to force the tech giant to sell Chrome, its massively popular browser. In August, a judge ruled Google violated antitrust laws and acted as a monopoly when it came to its search engine. Google will have a chance to respond next month with its own plan before the judge makes a ruling next year. That makes it a powerful distribution arm for Google since Chrome's default search engine is … Google. And Apple was making at least $20 billion a year by defaulting to Google Search .
Persons: Billy Bob Thornton, Trump, Elon Musk, Vivek Ramaswamy, Chelsea Jia Feng, Hugh Langley, Lara O'Reilly, Lara, Apple, Donald Trump, Matt Gaetz, Marc Rowan, Arturo Holmes, Apollo, Scott Kleinman, Jim Zelter, Morgan Stanley's, Jeff McMillan's, he's, You've, that's, Michael M, Tyler Le, Google's DeepMind, John Deere, Biden, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Justice Department, Google, Tech, Nvidia, Elon, DOJ, Microsoft, YouTube, Bloomberg, Big Tech, Trump, Getty, , Comcast, Boston Celtics, White Locations: Los Angeles, New York, Chicago, London
Here's the impact of Trump's tax and tariff plan
  + stars: | 2024-11-21 | by ( Robert Frank | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's the impact of Trump's tax and tariff planCNBC's Robert Frank reports on news regarding President-elect Trump's tariff and tax plan.
Persons: Robert Frank
Trump AG pick Matt Gaetz says he's withdrawing
  + stars: | 2024-11-21 | by ( Kevin Breuninger | ) www.cnbc.com   time to read: +2 min
Matt Gaetz said Thursday he is withdrawing his name from consideration as President-elect Donald Trump's pick for U.S. attorney general, ending the controversial bid that put prior allegations of sexual misconduct in the spotlight. I appreciate their thoughtful feedback - and the incredible support of so many," Gaetz said in a statement posted on his X account. "There is no time to waste on a needlessly protracted Washington scuffle, thus I'll be withdrawing my name from consideration to serve as Attorney General," he said. The Department of Justice's investigation into whether Gatez sex-trafficked a minor girl ended last year without charges being filed. The House committee, which is evenly divided between Republicans and Democrats, on Wednesday deadlocked on a vote to release a report on its probe of Gaetz.
Persons: Matt Gaetz, Kevin McCarthy, Donald Trump's, Gaetz, Vance, CNN's Paula Reid, Susan Wild of, reconvene, Trump, Karoline Leavitt, Leavitt Organizations: U.S, Trump, Republican, The, Republicans, Democrats, Gaetz, Truth, Administration, Department of Justice, CNBC, Yildirim Locations: Washington ,, Florida, Washington, Susan Wild of Pennsylvania
Bitcoin was trading at about $97,000 on Thursday morning, after setting a fresh record high of $98,367.00, according to Coin Metrics. The crypto community is levered to the gills, and so there will be a correction," Novogratz said. He did caution that the correction could be greater in stocks, like MicroStrategy , that are trading like leveraged versions of bitcoin. "I personally would tell my investors to buy straight bitcoin" instead of plays like Microstrategy, Novogratz said. The rally has continued despite a mystery seller that has been dumping crypto in recent days, Novogratz said.
Persons: Bitcoin, Michael Novogratz, Novogratz, bitcoin, Donald Trump, MicroStrategy, Trump Organizations: Galaxy Digital, Metrics, Acurx Pharmaceuticals
The potential appointment of Apollo Global Management CEO Marc Rowan would boost the stock and the broader alternative asset management sector, according to TD Cowen. Trump's reelection platform included efforts to deregulate industries, which would facilitate large transactions such as the ones seen in the private equity sector. APO 1D mountain Apollo shares on Thursday Katz also thinks any "key man risk" at Apollo in the event Rowan is appointed to Trump's Cabinet is limited. Likely CEO successors are co-Presidents Jim Zelter and Scott Kleinman, according to Katz. Shares of Apollo have soared 77% year to date.
Persons: Marc Rowan, TD Cowen, Donald Trump's, Rowan, Kevin Warsh, Scott Bessent, Sen, Bill Hagerty, Warsh, Bill Katz, Katz, Jim Zelter, Scott Kleinman Organizations: Apollo Global Management, Federal, Key Square Group, Rowan, Trump, Mar, APO Locations: Wednesday's
A few months ago, a three-post exchange between Jeff Bezos and Elon Musk on Mr. Musk’s X would have passed for petty sniping between billionaire rivals. “Just learned tonight at Mar-a-Lago that Jeff Bezos was telling everyone that @realDonaldTrump would lose for sure, so they should sell all their Tesla and SpaceX stock,” Mr. Musk wrote Wednesday night, referring to two of his companies. 100% not true,” Mr. Bezos responded on Thursday morning. “Well, then, I stand corrected,” Mr. Musk wrote back, with a laughing-crying emoji. With President-elect Donald J. Trump's history of animosity toward Mr. Bezos, the posts carried an unspoken message about Mr. Musk’s growing power within the incoming administration.
Persons: Jeff Bezos, Elon Musk, Musk’s, , Mr, Musk, Nope, Bezos, Donald J Organizations: SpaceX
New York CNN —In between his posts on Truth Social announcing nominees for his incoming administration, President-elect Donald Trump urged Republicans Wednesday to nix a bipartisan bill that would give journalists greater protections under federal law. Trump wrote on his favorite social network that “REPUBLICANS MUST KILL THIS BILL!”He linked to a PBS “NewsHour” interview with Jodie Ginsberg, the CEO of the Committee to Protect Journalists, who urged the Senate to pass the legislation. Known as the PRESS Act, the Protect Reporters From Exploitative State Spying Act would prevent the government from forcing journalists to reveal their sources and limit the seizure of their data without their knowledge. “It’s really important that we have that federal shield law to protect journalists at the federal level,” Ginsberg said on PBS. “Many Trump supporters from Rep. Jim Jordan to Sen. Mike Lee are champions of the PRESS Act because it would protect all journalists, including many who reach primarily conservative audiences.
Persons: Donald Trump, nix, Trump, Jodie Ginsberg, Sen, Tom Cotton, Trump’s, Joe Biden’s, ” Ginsberg, John Oliver, Dell Cameron, Trevor Timm, , ” Timm, Jim Jordan, Mike Lee Organizations: New, New York CNN, Social, Republicans, PBS, Protect Journalists, Senate, Freedom, Press, Republican, The New York Times, HBO, WIRED, Democratic, Press Foundation, CNN, Trump, Rep Locations: New York
Rep. Marjorie Taylor Greene, R-Ga., attends a roundtable discussion with members of the House Freedom Caucus on the COVID-19 pandemic at The Heritage Foundation on Thursday, November 10, 2022. Rep. Marjorie Taylor Greene, R-Ga., has been tapped to lead a new House subcommittee that will work with the so-called Department of Government Efficiency led by Elon Musk and Vivek Ramaswamy. Greene and House Oversight Chairman James Comer, R-Ky., have met with Ramaswamy and his team and are "already working together," a source familiar with the matter told CNBC on Thursday. "I'm excited to chair this new subcommittee designed to work hand in hand with President Trump, Elon Musk, Vivek Ramaswamy, and the entire DOGE team," Greene said in a statement to CNBC. It aims to investigate government waste, and seek out ways to reorganize federal agencies and cut red tape, the source said.
Persons: Marjorie Taylor Greene, Elon Musk, Vivek Ramaswamy, Greene, James Comer, Ramaswamy, Comer, Donald Trump, Trump Organizations: Caucus, Heritage Foundation, Government, CNBC, President, DOGE, Fox News Locations: Ky
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSEC Chair Gary Gensler to step down when Trump takes office: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Nathan McCauley of Anchorage Digital discusses how institutions are reacting to the recent crypto rally.
Persons: Gary Gensler, Trump, explainers, Nathan McCauley Organizations: SEC, CNBC Crypto, CNBC, Anchorage Digital
Asked in August whether he would ever serve in Trump’s cabinet, Kennedy said, “No.” but weeks later, he ended his campaign and endorsed Trump. Kennedy has since refrained from any public criticism of Trump, aligning himself with the former president on issues like government censorship and public health. Trump, left, greets Robert F. Kennedy Jr., at a campaign rally in Glendale, Arizona, on August 23. “And you can see that every statement that Donald Trump makes is fear-based,” Kennedy said on his radio show in December 2016. “And, you know, he’s not like Hitler,” Kennedy said.
Persons: Robert F, Kennedy Jr, Donald Trump’s, , ” Kennedy, , Trump, Adolf Hitler, Benito Mussolini, Kennedy, Hitler, “ Hitler, President Trump, demagogues, Adriana Zehbrauskas, Trump’s, Francisco Franco, Mussolini, Huey Long, Father Coughlin, Donald Trump, Obama, barker, George Wallace, , , , Matt Taibbi’s, ’ ” Kennedy, Taibbi, he’s, He’ll, Michael Mann, “ Michael Mann, Erik McGregor, “ Trump, Andrew Wheeler Organizations: CNN, Health, Human Services, Trump, HHS, Centers for Disease Control, Prevention, Drug Administration, National Institutes of Health, Democratic Party, New York Times, Civil Rights Movement, Alabama Gov, , Pipeline, EPA Locations: Glendale , Arizona, White, America, Paris, Albany , New York
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