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AdvertisementComcast plans to spin off some NBCUniversal cable channels. Comcast said it was exploring spinning off its cable networks late last month, with BI's Peter Kafka writing that the move served as yet another signal of cable TV's decline. Analysts said Comcast could increase its valuation by selling its cable networks, though they were unsure if it would actually work out, BI previously reported. Disney CEO Bob Iger in the past floated the idea of selling Disney's TV and cable channels. NBCU's various TV channels are tightly integrated, sharing back office functions and talent that would have to be untangled, for one.
Persons: Peacock, Mark Lazarus, BI's Peter Kafka, Mike Cavanagh, Michael Hodel, Morningstar, Bob Iger Organizations: Comcast, MSNBC, CNBC, NBC, Bravo, Syfy, Golf, Wall Street, Business Insider, Analysts, Disney Locations: USA
SpaceX launched the sixth test flight of its Starship rocket on Tuesday, as the company looks to keep up momentum of the mammoth vehicle’s development. Pushing the envelopeSpaceX has flown the full Starship rocket system on six spaceflight tests so far since April 2023, at a steadily increasing cadence. The company said on its website that it made hardware upgrades to the rocket’s booster for improved redundancy and improved structural strength. The Starship system is designed to be fully reusable and aims to become a new method of flying cargo and people beyond Earth. Fully stacked on the Super Heavy booster, Starship stands 397 feet tall and is about 30 feet in diameter.
Persons: Elon Musk’s, Donald Trump, Trump, SpaceX’s, Musk Organizations: SpaceX, Federal Aviation Administration, Super Locations: Brownsville , Texas, Gulf, Mexico, Florida
President-elect Donald Trump said Tuesday he was traveling to Texas to personally witness the latest launch for SpaceX’s Starship megarocket, a key part of billionaire Elon Musk’s plans to populate Mars. Trump, who has endorsed a Mars mission, announced his plans in a post on X. “I’m heading to the Great State of Texas to watch the launch of the largest object ever to be elevated, not only to Space, but simply by lifting off the ground. Good luck to @ElonMusk and the Great Patriots involved in this incredible project!” he said. Musk, the CEO of SpaceX and Tesla, said on X he was honored to have Trump at the event.
Persons: Donald Trump, Elon Musk’s, Trump, Musk Organizations: Great Patriots, SpaceX, Tesla, Trump Locations: Texas, Great State of Texas
And now, as Trump continues to fill out the upper echelons of his transition and administration, some key donors appear to be in the fray. Chris Wright, the Liberty Energy CEO tapped to be Trump’s energy secretary, gave the campaign and affiliated committees more than $235,000. Marc Rowan, the billionaire CEO of Apollo Global Management, gave $1 million to Right for America, a pro-Trump super PAC. The super PAC also ran a controversial program that gave away $1 million checks to swing-state voters who signed Musk's petition. (His father, Charles Kushner, who was pardoned by Trump, gave that same amount, plus another $1.2 million to a pro-Trump super PAC).
Persons: megadonors, Donald Trump's, Trump, Linda McMahon, McMahon's, Howard Lutnick, Lutnick, Chris Wright, Scott Bessent, Marc Rowan, Elon Musk, Musk, Ike Perlmutter, Jared Kushner, Trump's, Charles Kushner, Tim Mellon, Miriam Adelson, megadonor Sheldon Adelson Organizations: Trump's Small Business Administration, Trump, Inc, MAGA Inc, Commerce Department, Liberty Energy, NBC, Treasury Department, Apollo Global Management, Street, Treasury, America PAC, PAC, Marvel Entertainment, America, Dallas Mavericks Locations: America
DETROIT — Stellantis is delaying the launch of its Ram electric pickup trucks from this year until the first half of 2025, as the trans-Atlantic automaker continues testing the vehicles. CEO Carlos Tavares on Tuesday declined to disclose details about what caused the delays or specific timing on the electric trucks, which include an all-electric “REV” model and an extended-range “Ramcharger” that’s equipped with an electric generator and a gas engine. Stellantis’ upcoming electric pickups are the first that will be built on the company’s new “STLA Frame platform” for its larger trucks and Jeep SUVs. It is expected to be a “multi-energy platform” that’s capable of internal combustion engines and hybrids, as well as electric models using batteries, fuel cells and range-extended electric propulsion systems. Doing so would deliver on Trump’s campaign comments about removing such incentives and EV initiatives.
Persons: Carlos Tavares, ” Tavares, It’s, Stellantis, ” Stellantis, Donald Trump, Tavares, Trump Organizations: DETROIT, Atlantic, Dodge, Biden, EV Locations: U.S, ” Stellantis ’
SpaceX's Starship spacecraft sits atop its powerful Super Heavy rocket at the company's Boca Chica launchpad, near Brownsville, Texas, on November 16. Musk’s claims came after the FAA proposed $633,009 in civil penalties against SpaceX, saying the company violated launch license requirements twice during flights of its workhorse Falcon 9 rocket. SpaceX has denied wrongdoing related to those requirements, saying none of the allegations related to public safety. Still, the FAA granted SpaceX its long-awaited license to move forward with Starship’s fifth uncrewed test launch in October — and that same launch license covers this week’s test flight. It marks the first time that SpaceX has not had to go back to the FAA to approve launch license changes since the company began this testing campaign years ago.
Persons: Joe Skipper, Elon Musk, Musk, Donald Trump, , Mike Whitaker “, ” Musk, Musk’s Organizations: Boca, Reuters, SpaceX, Federal Aviation Administration, FAA, “ Department, Government Locations: Brownsville , Texas,
But one thing is missing from the storied British carmaker Jaguar's new rebrand: cars. In a press release accompanying its rebrand, Jaguar's chief creative officer, Sir Gerry McGovern, explained the thinking behind the rollout. Jaguar sold fewer than 67,000 cars in the entire world last year, approximately half the number it sold in the fiscal year incorporating the beginning of the Covid-19 pandemic. In response to other X users asking why the ad didn’t feature any cars, Jaguar’s X account responded, “The story is unfolding. That ethos is seen in our new brand identity today and will be further revealed over the coming months.
Persons: Bud Light's, Lulu Cheng Meservey, grads, Sir Gerry McGovern, Adrian Mardell, , Rawdon Glober Organizations: Rostra, Jaguar, Art, Rover, Tata Motors Locations: U.S, Art Basel, India
The Cantor Fitzgerald CEO has led and been the public face of Trump’s transition. As co-chair of Trump's transition, Lutnick has been an outspoken advocate for Trump’s agenda, including explaining how he plans to use tariffs once in office. Lutnick is the CEO and chairman of financial services titan Cantor Fitzgerald. Adam Gray / Bloomberg via Getty Images fileLutnick has been at Cantor Fitzgerald since the early 1980s when he graduated from Haverford College in Pennsylvania with an economics degree. Lutnick was working at Cantor Fitzgerald when terrorists targeted New York’s World Trade Center towers on Sept. 11, the firm's headquarters.
Persons: Donald Trump, Howard Lutnick, Cantor Fitzgerald, Lutnick, Adam Gray, Trump, Lutnick's, Elon Musk, evincing Organizations: WASHINGTON, Commerce Department, The Commerce Department, Bloomberg, Getty, Haverford College, New, Trade, Punchbowl News, Trump, Treasury, Elon, ‘ Department, Government Locations: United States, New York, Pennsylvania
Walmart’s CFO John David Rainey said the retailer would likely have to raise prices on some items if President-elect Donald Trump’s proposed tariffs take effect. “We never want to raise prices,” he said in an interview with CNBC on Tuesday. Beauty CEO Tarang Amin told CNBC in an interview earlier this month that the company could be forced to raise prices if the higher duties take effect. The majority of goods Walmart sells are not at risk of tariffs. The home improvement retailer addressed the potential levies as it reported earnings on Tuesday.
Persons: John David Rainey, Donald Trump’s, , , ” Rainey, Wall, Matthew Shay, Tarang Amin, Steve Madden, Rainey, We’ve, Lowe’s, it’s, Brandon Sink, — CNBC’s Gabrielle Fonrouge Organizations: CNBC, National Retail Federation, Walmart Locations: China, U.S
GUANGZHOU, CHINA - APRIL 6: Chinese Vice Premier He Lifeng prepares for a meeting with U.S. Treasury Secretary Janet Yellen on April 6, 2024 in Guangzhou, China. Chinese Vice Premier He Lifeng and several other top financial policymakers are scheduled to speak Tuesday at a global financiers summit in Hong Kong. Hosted annually by the Hong Kong Monetary Authority, the third Global Financial Leaders Investment Summit will hold its main events throughout the day, after hosting guests at a welcome dinner on Monday evening. He, who oversees a top-level economic and financial policy-making body, would be delivering an opening keynote speech at the summit, according to South China Morning Post. Li Yunze, minister of China's National Financial Regulatory Administration, along with with Wu Qing, Chairman of China Securities Regulatory Commission and Zhu Hexin, deputy governor of People's Bank of China, are scheduled to discuss mainland China's financial developments in a panel, according to HKMA's agenda of the summit.
Persons: Lifeng, Janet Yellen, Li Yunze, Wu Qing, Zhu Hexin, Daniel Pinto, Morgan Stanley, Ted Pick, Jane Fraser, Goldman Sachs, David Solomon Organizations: U.S, Treasury, Hong Kong Monetary Authority, Global Financial, Investment, China Morning, Financial Regulatory Administration, China Securities Regulatory Commission, People's Bank of China, JPMorgan Chase, Citigroup Locations: GUANGZHOU, CHINA, Guangzhou, China, Hong Kong, Beijing
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailC3 AI and Microsoft Azure partnership 'can guarantee customer success', says C3 AI CEO Tom SiebelTom Siebel, C3 AI CEO, joins 'Closing Bell Overtime' to talk expanding its Microsoft partnership, impact of Trump administration, and more.
Persons: Tom Siebel Tom Siebel Organizations: Microsoft, C3, Trump
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe way the market is discounting geopolitical risk is a tragic mistake, says CME CEO Terry DuffyTerry Duffy, CME CEO, joins 'Power Lunch' to discuss sponsoring the LPGA Championship, the growing market volatility and geopolitical risks.
Persons: Terry Duffy Terry Duffy Organizations: LPGA
Bose Corp. will purchase the McIntosh Group, a deal that will give the Massachusetts-based company control of one of the most storied names in high-end audio. McIntosh will continue to manufacture the high-end audio equipment it is known for out of its longtime headquarters in New York, Bose CEO Lila Snyder said. The deal also includes Sonus Faber, a company that makes high-end speakers by hand in Italy. The purchase of the two audio workshops provides Bose access into the high-end luxury audio market, Snyder told CNBC in an interview. McIntosh has been making high-end amplifiers and other audio equipment since 1949, and one of its devices can cost tens of thousands of dollars.
Persons: McIntosh, Bose, Lila Snyder, Sonus Faber, Snyder Organizations: Bose Corp, McIntosh, CNBC, Highlander Partners, Forbes Locations: Massachusetts, New York, Italy, Dallas
CNN —Trump transition co-chair Linda McMahon is expected to be named as secretary of the Department of Education, four sources familiar with the matter told CNN. The decision took shape after it became clear that McMahon would be passed over for Commerce secretary. McMahon is also the former CEO of the WWE, which she co-founded with her husband, Vince McMahon. As head of the WWE, McMahon oversaw its transformation from a small wrestling entertainment company into a publicly traded media empire. During Trump’s first campaign for president, McMahon donated more than $7 million to two pro-Trump super PACs, according to Open Secrets.
Persons: CNN —, Linda McMahon, McMahon, Donald Trump, Howard Lutnick, Cantor Fitzgerald, Scott Bessent, Trump’s, Larry Kudlow, Trump, AFPI, Vince McMahon Organizations: CNN, CNN — Trump, Department of Education, Commerce, Commerce Department, Treasury, Small Business Administration, America, Trump, Policy Institute, WWE Locations: Connecticut
Stellantis delays Ram electric pickup truck until 2025
  + stars: | 2024-11-19 | by ( Michael Wayland | ) www.cnbc.com   time to read: +1 min
Stellantis' Ram 1500 Revolution battery-electric concept pickup truck is introduced during a keynote address by Stellantis CEO Carlos Tavaras during CES 2023 at The Venetian Resort Las Vegas on January 05, 2023 in Las Vegas, Nevada. DETROIT — Stellantis is delaying the launch of its Ram all-electric pickup truck from this year until the first half of 2025, as the trans-Atlantic automaker continues testing the vehicle. CEO Carlos Tavares on Tuesday declined to disclose details about what caused the delay of the electric truck, which was expected to be followed by an extended-range "Ramcharger" that's equipped with an electric generator and a gas engine. It's better to take a few weeks more to validate properly than to rush and then to make mistakes in terms of quality. The all-electric pickup was expected to go on sale by the end of this year, followed by the Ramcharger during the first quarter of 2025.
Persons: Stellantis, Carlos Tavaras, Carlos Tavares, " Tavares, It's, Tavares Organizations: Atlantic, Dodge Locations: Vegas, Las Vegas , Nevada, DETROIT
Last week, Klarna made a confidential filing to go public in the U.S., ending months of speculation over where the Swedish digital payments firm would list. Still, the development drew buzz from fintech circles with market watchers asking if the move marks the start of a resurgence in big fintech IPOs. For now, that doesn't appear to be the case — however, founders say they'll be watching the IPO market, eyeing pricing and eventually stock performance. Hiroki Takeuchi, CEO of online payments startup GoCardless, said last week that it's not yet time for his company to fire the starting gun on an IPO. However, Zopa's CEO added that he's seeing signs pointing toward a more favorable IPO market in the next couple of years, with the U.S. likely opening up in 2025.
Persons: Hiroki Takeuchi, Zed Jameson, Klarna, they'll, Takeuchi, GoCardless, Lucy Liu, Airwallex, it's, Liu, Jack Zhang, We're, fintech IPOs, Navina Rajan, It's, Rajan, Jaidev Janardana, Janardana, that's Organizations: GoCardless, Bloomberg, Getty, Portugal —, CNBC, Summit, British, U.S Locations: LISBON, Portugal, U.S, Lisbon, Europe
AdvertisementCustomer-friction concerns, partnership hiccups, compatibility questions, latency problems, and accuracy issues have snarled progress, according to internal Amazon documents and multiple people involved in the project. AdvertisementA product of this scale is "unprecedented, and takes time," an Amazon spokesperson told Business Insider. Related storiesFor example, without more clearly defined responsibilities with third-party partners, Amazon expected further delays in the launch. AdvertisementLatency has been a particularly tough problem for the AI Alexa service. Related storiesNew risksIn late August, Amazon discovered several new risk factors for the AI Alexa service.
Persons: Alexa, that's, Amazon, Taylor Swift, they're, ChatGPT, Andy Jassy, Andy Jassy Mike Blake, Claude Haiku, Rohit Prasad, Claude, AGI NurPhoto, , Fortune, Amazon's Organizations: Uber, Ticketmaster, Alexa, Echo, Amazon, Business, Bloomberg, TV, Reuters, General Intelligence, AGI, Companies
Tech: We're in the middle of a white-collar recession, and tech workers are shouldering much of it . We're in the middle of a white-collar recession, and tech workers . AdvertisementElon Musk's government efficiency commission has been tasked with cutting government spending, raising questions about the future of millions of jobs. Tech jobs are mired in a recession. White collar hiring is in a huge slump, and tech workers are some of the hardest hit .
Persons: Trump hasn't, Tesla, Chelsea Jia Feng, Madison Hoff, Vivek Ramaswamy, Musk, Alice Tecotzky, John L, Dorman, Allison Robbert, Scott Bessent, Cantor Fitzgerald, Howard Lutnick, Marc Rowan, Kevin Warsh, Trump, Goldman Sachs, Morgan Stanley, Natalie Ammari, Uber, Verily, , Rebecca Zisser, Elon Musk, Bluesky —, Jake Paul's, Netflix's Jake Paul, Mike Tyson, wasn't, Donald Trump's, Satya Nadella, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Google, Trump, Tech, Getty, Elon, Department of Education, Veterans Affairs, Department of Government, Social Security, Medicare, Twitter, Getty Government, Allison, Treasury, BCA Research, Goldman, BI, LinkedIn, Microsoft, China Economic, Security, Walmart Locations: Washington , DC, China, Brazilian, New York, Chicago, London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPutin threatens nuclear weapons 'whenever he's trying to scare off Biden admin,' says Fred KempeFred Kempe, Atlantic Council president and CEO, joins CNBC's 'Money Movers' to discuss outlooks on geopolitical tensions as Putin issues a new doctrine to lower the threshold to use nuclear weapons.
Persons: Fred Kempe Fred Kempe Organizations: Putin, Biden, Atlantic
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarriott CEO Anthony Capuano: Modest-income households want to travel, but they want value tooModest-income households have a strong appetite for travel and "a real desire to find a value alternative," said Marriott CEO Anthony Capuano, while in Japan following the debut opening of the company's midscale brand, Four Points Flex by Sheraton, in Asia-Pacific (excluding China).
Persons: Anthony Capuano Organizations: Marriott, Sheraton Locations: Japan, Asia, China
AdvertisementA $20 million six-bedroom seaside mansion sold in Puerto Rico this month. The 14,000-square-foot home is the most expensive property sold in Puerto Rico this year. A sprawling six-bedroom mansion has become the most expensive property sold in Puerto Rico this year. Blanca Hebe Lopez Pierluisi, boss of Corcoran Puerto Rico, the real estate agency that represented the buyer of the $20 million mansion, told Business Insider via email that Puerto Rico has "seen an incredible boom in real estate during these last five years as well as numerous new development projects that speak to the healthy demand across the island." "This record-breaking sale is a strong indicator that the real estate market in Puerto Rico is thriving and resilient," she added.
Persons: It's, Shou Zi Chew, , Mainlanders, Blanca Hebe Lopez Pierluisi, Corcoran Organizations: Ritz Carlton Reserve, Puerto Rico —, Reuters, Puerto Locations: Puerto Rico, Dorado, San Juan, Singapore, Puerto, Corcoran Puerto Rico
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with the former Google CEO Eric SchmidtEric Schmidt, former Google chairman and CEO, joins 'Squawk Box' to discuss Schmidt's most recent book, if Google needs to divest part of its business, and if the whole antitrust game will change under Trump.
Persons: Eric Schmidt Eric Schmidt Organizations: Google, Trump
AdvertisementDonald Trump has tapped Wall Street CEO Howard Lutnick for commerce secretary. Lutnick has spent over three decades running Cantor Fitzgerald, an investment bank in New York. Howard Lutnick, the CEO of Wall Street investment bank Cantor Fitzgerald, has been named the next US secretary of commerce for Donald Trump. AdvertisementThe Wall Street veteran has spent his career at financial-services firm Cantor Fitzgerald, where he has been president and CEO since 1991. Here's a look at Lutnick's rise from "middle-class Long Island" to Wall Street boss and what his new role could mean for the investment bank he heads.
Persons: Donald Trump, Howard Lutnick, Lutnick, Cantor Fitzgerald Organizations: Wall, Commerce Department, Senate, Street, Trump Locations: New York, Wall Street, China
AdvertisementIn the two weeks since the election, Elon Musk and Donald Trump have been pretty much inseparable. The Tesla CEO is set to co-lead the Department of Government Efficiency in Trump's second term. It's been two weeks since President-elect Donald Trump won another four years in the White House. Tesla CEO Elon Musk has been by his side for much of that time. Here's a look at Trump and Musk's whirlwind post-election partnership in photos, from boxing matches to golf games, with an eye on governing in between.
Persons: Elon Musk, Donald Trump, Musk, It's, elect's, Elon, Trump Organizations: Department of Government, Trump, Republicans, NBC
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