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New York CNN —For months, former President Donald Trump has been sitting on a social media fortune that he couldn’t touch. As recently as May 9, Trump’s dominant stake of 114.75 million shares of Trump Media was valued at $6.2 billion. Despite the recent selloff, Trump Media is still valued at nearly $4 billion. Once the lock-up period expires, Trump will no longer be prohibited from borrowing against his stake in Trump Media. Experts say that if Trump does borrow against his Truth Social stake, he may not be required to disclose it.
Persons: Donald Trump, Trump, ” Michael Ohlrogge, Kamala Harris, , Charles Whitehead, Elon Musk, Mark Zuckerberg, Phillip Juhan, Scott Glabe, Andrew Northwall, Vladimir Novachki, Devin Nunes, Jay Ritter, ” ‘, “ It’s, ” Ritter, , can’t, ” Ohlrogge, Ohlrogge Organizations: New, New York CNN, Trump, Truth Social, Trump Media & Technology, Trump Media, New York University School of Law, CNN, Democratic, Cornell Law School, , , Meta, Republican, SEC, Trump Media & Technology Group Corp, University of Florida’s Warrington College of Business, NYU Locations: New York
In this photo illustration, a visual representation of the digital Cryptocurrency, Bitcoin is on display in Paris, France, on March 5, 2024. Chesnot | Getty Images News | Getty ImagesThe population of crypto millionaires in the world soared 95% over the past year, as bitcoin ETFs and other crypto assets climbed, according to a new report. There are now 172,300 individuals worldwide holding over $1 million in crypto assets, up from 88,200 last year, according to a report from New World Wealth and Henley & Partners. There are now 325 crypto centi-millionaires (those with $100 million or more in crypto holdings), and 28 crypto billionaires, according to the report. As other coins have increased in value, the market cap of crypto assets has increased to $2.3 trillion, according to Henley, up from $1.2 trillion last summer.
Persons: Robert Frank, bitcoin, Andrew Amoils, Zhao, Changpeng Zhao, Binance, Benoit Tessier Organizations: Chesnot, Getty, Wealth, Henley & Partners, Forbes, Viva Technology, Porte de Locations: Paris, France, Henley, U.S, Porte
President Volodymyr Zelensky, always adept at messaging, used his latest Independence Day speech on Saturday to drive home the idea that Ukraine is taking the fight to Russia, even as his troops struggle along the front line at home. He said the video of the speech was filmed near the site where his troops began a cross-border offensive into Russian territory nearly three weeks ago that caught Moscow by surprise. It was prerecorded from what he described as a location along the Psel River, an area frequently targeted by Russian artillery. “Whoever wished misery upon our land shall find it in their own home,” Mr. Zelensky said of the incursion, which has pushed into the Kursk region of southwestern Russia. He called his military’s operation — which has come after two and a half years of Russia’s all-out, and brutal, invasion of Ukraine — a “boomerang for evil.”
Persons: Volodymyr Zelensky, Moscow, ” Mr, Zelensky, Organizations: Russian Locations: Ukraine, Russia, Kursk
Comparisons were drawn to the 1968 Chicago convention, when national unrest during the civil rights movement and over the Vietnam War sowed an atmosphere of violence and chaos. Chicago Police Department officers were trained to deploy a disciplined and patient approach that focused on protecting free speech and allowing people to lawfully protest, a department official said. “The department trained more than a year for this,” a Chicago Police Department official who was not authorized to speak publicly told NBC News. “We are trying to get away from the old image of the Chicago Police Department,” the official said. Protesters in Chicago on the last night of the DNC on Thursday.
Persons: ” Chicago Mayor Brandon Johnson, Sebastián Hidalgo, , , Adam Edelman, Larry Snelling, , we’ve, Michael Boyte, Chuck Wexler, Ed Obayashi, Brad Thomson, ” Obayashi, Snelling, Terence Monahan, Eduardo Castelao, Nick Sous, Sebastian Hidalgo Organizations: CHICAGO, United, Democratic, Convention, ” Chicago Mayor, . Chicago Police Department, Chicago Police Department, NBC News . Protesters, NBC, scuffles, Chicago police, Coalition, DNC, Secret Service, Consulate, NBC News, Republican National Convention, Police, Research, Chicago, National Lawyers Guild of Chicago, New York Police Department, U.S . Palestinian Community Network, Protesters Locations: Chicago, Vietnam, Israel, Germany, Gaza, Milwaukee, Washington ,, California
BUCHAREST, Romania — A court in Romania’s capital Thursday placed the divisive internet influencer Andrew Tate under house arrest for 30 days, as prosecutors investigate a sprawling new case that involves allegations of human trafficking of minors and sex with a minor. Outside the court after the judge issued his house arrest measure, Andrew Tate told reporters that many of the alleged victims in the new case have statements in the Tate brother’s defense. After the Tate brothers’ arrest in December 2022, they were held for three months in police detention before being moved to house arrest. Last month, a court overturned an earlier decision that allowed the Tate brothers to leave Romania as they await trial. In March, the Tate brothers also appeared at the Bucharest Court of Appeal in a separate case, after British authorities issued arrest warrants over allegations of sexual aggression in a U.K. case dating back to 2012-2015.
Persons: Andrew Tate, Tate, Tristan Tate, Tristan, Mateea Petrescu, , , DIICOT, Daniel Mihailescu, , ” DIICOT Organizations: Prosecutors, Tate, Getty, European Union Locations: BUCHAREST, Romania, Romania’s, Bucharest, Ilfov county, U.S, Romanian, AFP
The Donor Report Card on Harris
  + stars: | 2024-08-23 | by ( Andrew Ross Sorkin | Ravi Mattu | Bernhard Warner | ) www.nytimes.com   time to read: +1 min
Donors weigh in on the D.N.C. “I will bring together labor and workers and small-business owners and entrepreneurs and American companies to create jobs,” she told the Democratic National Convention last night. The nod to corporate America comes as Democrats try to firm up relations with big business. DealBook has been hitting the phones all week to hear what donors thought of the four-day convention. A flood of donors decided to go only after Harris became the presumptive nominee.
Persons: Kamala Harris’s, , DealBook, Harris, Brad Karp, Paul, Weiss, Raymond McGuire, Lazard, Blair Effron, John Rogers Jr Organizations: Democratic, Convention, Chicago, Centerview Partners, Ariel Investments Locations: America
Modi Arrives in Kyiv as Ukraine Pushes Diplomacy
  + stars: | 2024-08-23 | by ( Andrew E. Kramer | ) www.nytimes.com   time to read: 1 min
Prime Minister Narendra Modi of India arrived in Kyiv on Friday, furthering a long diplomatic effort by Ukraine to engage non-Western nations in potential settlement talks in the war with Russia. While many leaders of countries backing Ukraine, including President Biden, have visited Kyiv, Mr. Modi’s trip is the highest-profile wartime visit of a leader of a nation with a neutral stance on the conflict. Ukrainian officials have said that they do not see a mediating role for India, but they portrayed Mr. Modi’s visit as a welcome show of support for their country during the war. The visit is a first by an Indian leader since Ukraine gained independence in 1991. In comments to reporters in Poland before traveling into Ukraine, Mr. Modi said he intended to discuss the war.
Persons: Narendra Modi, Biden, Modi’s, Modi Organizations: India, Mr Locations: Kyiv, Ukraine, Russia, India, Poland
Lower interest rates are "generally positive for stocks," said Marguerita Cheng, a CFP and chief executive of Blue Ocean Global Wealth, based in Gaithersburg, Maryland. Considerations for cash, bonds and stocksFalling interest rates generally means investors can expect lower returns on their "safer" money, advisors said. High interest rates have meant investors enjoyed fairly lofty returns on these lower-risk holdings. Winnie Sun co-founder and managing director of Sun Group Wealth PartnersHowever, such returns are expected to fall alongside declining interest rates, advisors said. "They'll be crying in six months when interest rates are a lot lower," she said.
Persons: Jerome Powell, Andrew Harnik, Winnie Sun, Lee Baker, Powell, Stephen Brown, Marguerita Cheng, Sun, Powell didn't, Ted Jenkin, Carolyn McClanahan Organizations: Getty, Sun Group Wealth Partners, Financial Advisors, Finance, North, Capital Economics, Blue, Sun Group Wealth, Planning Partners Locations: Irvine , California, Atlanta, Jackson Hole , Wyoming, U.S, North America, Gaithersburg , Maryland, Jacksonville , Florida
Andrew Bailey, governor of the Bank of England, waits to deliver a lecture at the London School of Economics in London, UK, on Tuesday, May 21, 2024. Bank of England Governor Andrew Bailey will hail the progress made in dampening inflation in the U.K. in a Friday speech, but also caution that monetary policy may need to remain restrictive for longer than expected due to shocks from the labor market. Headline price rises in the U.K. hit the BOE's 2% target for two months this year, before rising to 2.2% in July. However, he will caution that two less "benign" scenarios remain possible that will require the Bank of England to "maintain restriction for longer." It comes after Federal Reserve Chair Jerome Powell on Friday gave his firmest comments yet indicating that interest rate cuts lie ahead for the world's biggest central bank, stating: "The time has come for policy to adjust."
Persons: Andrew Bailey, Bailey, Jerome Powell Organizations: Bank of England, London School of Economics, U.S, Bank of Locations: London, U.S . Federal, Jackson Hole , Wyoming, Bank of England
Romanian officials Wednesday searched four homes belonging to Andrew Tate, per multiple reports. The investigation reportedly is looking into the trafficking of minors and sexual intercourse with a minor. Tate, a self-described misogynist and influencer, is already facing accusations of human trafficking. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy .
Persons: Andrew Tate, , influencer, Tristan, Romania's DIICOT, Tate Organizations: Service, Business
Mars, whose brands include M&M’s, Snickers and Skittles, is buying food company Kellanova in a deal worth nearly $30 billion, giving it access to a huge portfolio of consumer brands from Cheez-It to Pop-Tarts. Kellanova, based in Chicago, houses many brands, including Pringles, Town House, MorningStar Farms and Rice Krispies Treats. Once it is complete, Kellanova will become part of Mars Snacking. “The Kellanova brands significantly expand our snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth,” Andrew Clarke, global president of Mars Snacking, said in a statement. Shares of Kellanova rose nearly 8% before the opening bell Wednesday.
Persons: Mars, Kellanova, Kellogg, Rice Krispies, ” Andrew Clarke, Mars Snacking Organizations: Kellogg Co, MorningStar, Rice, Mars Inc Locations: Cheez, Chicago, Pringles
Economists like to say the cure for high prices is high prices. In other words, consumers eventually start to hold back on spending when they are faced with increasing costs. On Monday, the New York Federal Reserve reported that consumers' three-year inflation outlook hit a record low. Many economists credit the Federal Reserve's decision to raise interest rates starting in the spring of 2022 with helping to curb the upswing. It is that last factor that the Federal Reserve is keenly focused on.
Persons: , Andrew Jassy, Wells Fargo, Mark Hamrick, Organizations: of Labor Statistics, Federal Reserve's, New York Federal Reserve, Federal, Fed, BLS, Gallup, Federal Reserve Locations: U.S, York
Google faces a reckoningShares in Alphabet, Google’s parent company, were down in premarket trading on Wednesday on news that the Justice Department is said to be considering breaking up the technology giant for maintaining an illegal search monopoly. That would be a devastating blow for the company, but it could also have huge ramifications for the broader tech sector, with Apple, Amazon and Meta all facing their own antitrust battles with the government. A recap: In a ruling last week, Judge Amit Mehta of the U.S. District Court for the District of Columbia agreed with the government and multiple states that Google’s dominance in search was constraining competition. Google said it would appeal. Mehta has asked both parties to submit suggested remedies by Sept. 4, with a hearing set to take place two days later.
Persons: Amit Mehta, Mehta Organizations: Google, Justice, Apple, U.S, District of Columbia
How ‘Deepfake Elon Musk’ Became the Internet’s Biggest Scammer An A.I.-powered version of Mr. Musk has appeared in thousands of inauthentic ads, contributing to billions in fraud. Mr. Beauchamp, an 82-year-old retiree, saw a video late last year of Mr. Musk endorsing a radical investment opportunity that promised rapid returns. “I mean, the picture of him — it was him,” Mr. Beauchamp said about the video he saw of Mr. Musk. Original A.I. Audio Original Original A.I.
Persons: ‘ Deepfake Elon, Musk, Steve Beauchamp, Elon, Beauchamp, , ” Mr, ‘ Pick, ’ that’s, “ It’s, , Francesco Cavalli, Scammers, Thorold Barker, Sensity, Warren Buffett, Jeff Bezos, “ Elon, Donald J, Trump, Elon Musk, Andrew Forrest, scammers, Lou Steinberg, Cavalli, Eastern Europe — cobble, “ There’s, Molly White, Finn Brunton, Davis, “ I’m Organizations: A.I, Deloitte, Wall, Street, Amazon, India, Facebook, YouTube, Better Business Bureau, CNET, Meta, Hong Kong’s Securities, Futures Commission, Federal Trade Commission, Federal Bureau of Investigations, TED, Fox News, Eastern Europe —, Tesla, University of California, CNN, New York Times, Magna, The New York Times, Better Locations: Sensity, India, Russia, China, Eastern Europe, Ontario, Canada
Family-owned candy giant Mars, whose brands include M&M's and Snickers, said on Wednesday it would buy Cheez-It and Pringles maker Kellanova in a nearly $36 billion deal, making it the biggest deal in the packaged food industry. Mars will pay $83.50 per share in an all-cash deal for Kellanova, representing about a 33% premium to Kellanova's close on Aug. 2, before Reuters first reported that Mars was exploring a deal for the Pringles maker. Kellanova, which split from WK Kellogg last October, is rooted in a salty snacks business and sells cereal outside of North America. WK Kellogg was left with the North American cereal business of Kellogg, the original parent company. Kellanova logged net sales of more than $13 billion in 2023.
Persons: Mars, Kraft Heinz, Mondelez, Rice Krispies, Andrew Clarke, WK Kellogg, Kellogg Organizations: Diamond Foods Inc, Procter & Gamble Co, Kellanova, Reuters, Wrigley, Global, Street Journal Locations: San Francisco , California, Kellanova, Hershey, Chicago, North America
Brandon Bell/Getty ImagesSo, starting next month, fast food’s fix-it man will work to turn around Starbucks as its new CEO, the company announced on Tuesday. Starbucks’ sales have fallen for two straight quarters. Mobile app and drive-thru orders make up more than 70% of Starbucks’ sales at its approximately 9,500 company-operated stores in the United States. Restaurant analysts say that Starbucks, which has historically done less television advertising than rivals, will use marketing to try to improve customers’ perceptions of Starbucks’ brand and prices. Niccol succeeded adding new menu items to Chipotle, and he will “enable Starbucks to better succeed with menu innovation,” says Charles.
Persons: Chipotle, Brian Niccol, Niccol, carne asada, pollo, Brandon Bell, ” RJ Hottovy, they’re, Bebeto Matthews, , Tom Cook, Casey, Mark Lennihan, Cowen, Andrew Charles, Charles Organizations: New, New York CNN, Taco Bell, Starbucks, Investors, CNN Locations: New York, Taco, Chipotle, Mobile, United States
Mars buys Kellanova, maker of Cheez-It and Pringles
  + stars: | 2024-08-14 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +3 min
London CNN —Mars has agreed to buy Kellanova in a deal that values the maker of Cheez-It and Pringles at almost $29 billion. The mega-deal will create a global snacks behemoth, adding a bevy of new nibbles to Mars’ portfolio of brands, which includes Snickers, M&M’s, and the Mars bar. “The Kellanova brands significantly expand our snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth,” Andrew Clarke, global president of Mars Snacking, said in a statement. The Kellanova acquisition ranks in the top 10 global food and beverage mergers and acquisitions since 1995, according to Dealogic. The Kellanova deal is expected to close in the first half of next year, subject to shareholder and regulatory approval.
Persons: London CNN — Mars, Kellanova, ” Andrew Clarke, Mars Snacking, , Burger King, ” Kellanova, Trü, Anna Cooban Organizations: London CNN, Reuters, Kellogg Company, MorningStar, Nestle, McDonald’s, Starbucks, Mars
Vice President Kamala Harris’s sudden ascent to the top of the Democratic ticket has generated a host of questions about her economic agenda, including how much she will stick to the details of President Biden’s positions, tweak them, or chart entirely new ones. When she begins to roll out her policy vision this week, Ms. Harris is likely to answer only some of those questions. During an economy-focused speech on Friday in Raleigh, N.C., Ms. Harris will outline a sort of reboot of the administration’s economic agenda, according to four people familiar with Ms. Harris’s plans. She will lay out an approach relatively light on details, they said. It will shift emphasis from Mr. Biden’s focus on job creation and made-in-America manufacturing, and toward efforts to rein in the cost of living.
Persons: Kamala Harris’s, Biden’s, Harris, Harris’s, Biden Organizations: Democratic Locations: Raleigh, N.C, America
Valentina Petrillo is set to become the first openly transgender athlete to participate in the Paralympic Games after the visually impaired sprinter was selected to represent Italy in the women’s 200 and 400 meters races in Paris. The 50-year-old, who transitioned in 2019, won bronze medals in both events at the World Para Athletics Championships last year in Paris. Prior to transitioning, Petrillo won 11 national titles in the men’s category. International Paralympic Committee (IPC) President Andrew Parsons told BBC Sport that while Petrillo is welcome in Paris under World Para Athletics policies, he wants to see the sporting world “unite” on its transgender policies. However, the IPC allows governing bodies to set their own policies and World Para Athletics permits an individual legally recognized as a woman to compete in the category for which their impairment qualifies them.
Persons: Valentina Petrillo, Petrillo, ” Petrillo, , , Andrew Parsons Organizations: Paralympic Games, World, Paris Games, International Paralympic Committee, BBC Sport, IPC, Para Athletics Locations: Italy, Paris, Tokyo, France
CNN —It is another coin-flip in a conflict punctuated with at least annual reminders of how frail Vladimir Putin’s Russia truly is. It is purposefully unclear exactly where Ukraine’s forces are. It is also unclear where Ukrainian forces are digging in and where they are just racing through. This time it is Putin’s own FSB, who couldn’t keep control of the borders, in Putin’s war of choice. Residents of an apartment building damaged after shelling by the Ukrainian side stand near the building in Kursk, Russia, on Sunday.
Persons: Vladimir Putin’s, Kyiv’s, Wagner, Oleksandr Syrskyi, , , Lindsey Graham, Richard Blumenthal, Yevgeny Prigozhin’s, Putin, Andrew Kravchenko, Alexei Smirnov, it’s, he’s, Valery Gerasimov, Joseph Stalin, insurgencies, Putin’s, egotistically, Volodymyr Zelensky, Russia’s Putin, , Zelensky, Ukraine’s Organizations: CNN, Kyiv, Kremlin, Armed Forces of, Bloomberg, Getty, Manpower, Residents, AP Locations: Vladimir Putin’s Russia, Kharkiv, Kyiv, Russia, Ukraine, Kursk, Rostov, Moscow, Lgov, Armed Forces of Ukraine, Donbas, Pokrovsk, Ukrainian
Starbucks makes a change at the topThis just in: Laxman Narasimhan is out as the C.E.O. of Starbucks, the company announced on Tuesday, a year and a half since he succeeded Howard Schultz at the coffee chain. Narasimhan will be replaced by Brian Niccol, a fast-food industry veteran who executed a turnaround as C.E.O. Narasimhan has also been rocked by dueling activist investor campaigns and has had to fend off criticism from Schultz. Rachel Ruggeri, the Starbucks chief financial officer, will serve as interim C.E.O.
Persons: Laxman Narasimhan, Howard Schultz, Brian Niccol, Narasimhan, Schultz, It’s, Chipotle, Mellody Hobson, Rachel Ruggeri, Niccol Organizations: Starbucks, Narasimhan Locations: U.S, China
Ukraine pressed ahead with its assault inside Russian territory on Tuesday, a week into the biggest foreign incursion into the country since World War II. While Russian officials on Tuesday insisted that the situation was under control, Col. Roman Kostenko, a member of Ukraine’s Parliament serving in the country’s military, told a local news outlet that the “advance is ongoing.”The cross-border attack caught Russia by surprise and signified a shift in tactics for Kyiv, more than two years after Moscow’s troops poured across Ukraine’s border in a full-scale invasion. The rapid advance by Ukrainian forces has been an embarrassment for the Kremlin and aims to alter the narrative of the war at a time when Kyiv’s forces are stretched thin on the front lines of their own country.
Persons: Roman Organizations: Kremlin Locations: Ukraine, Russia, Ukraine’s
In this article SBUXCMG Follow your favorite stocks CREATE FREE ACCOUNTBrian Niccol, CEO of Chipotle Anjali Sundaram | CNBCWall Street believes Brian Niccol is the right choice to turn around Starbucks — and move the chain past the decadeslong Howard Schultz era. Starbucks tapped Niccol as its latest chief executive and chair on Tuesday. Niccol replaces Laxman Narasimhan, who took over the top job in March 2023 after being handpicked by former CEO Schultz. Other analysts wrote glowingly of Niccol, seeing him as the right person to tackle Starbucks' sluggish sales. Some analysts believe that having Niccol, an experienced restaurant CEO, in the driver's seat could mean that Schultz finally moves on.
Persons: Brian Niccol, Chipotle Anjali Sundaram, Howard Schultz, Niccol, Laxman Narasimhan, Schultz, TD Cowen, Andrew Charles, Piper Sandler, Baird, Oppenheimer, Brian Bittner, Brian, David Palmer, Morgan Stanley, Brian Harbour, Mellody Hobson, Niccol's, Hobson, Gordon, Don Bilson, Chipotle, Steve Ells, Bernstein, Danilo Gargiulo Organizations: CNBC, Starbucks, SBUX, Newport Locations: Denver, Newport Beach
The scenes were decidedly Russian. Flags with the country’s signature three horizontal stripes of white, blue and red. In the Russian town of Sverdlikovo, a Ukrainian soldier climbed onto another’s shoulders, broke off the wooden post anchored to a town council building and threw the Russian flag to the ground. In Daryino, a town five miles to the west, other soldiers also grabbed a Russian flag. “Just throw it away,” a Ukrainian soldier said, grinning, as another flexed his muscles.
Persons: Organizations: Gazprom, The New York Times Locations: Russian, Sverdlikovo, Ukrainian
That’s why, he said, he invested in AppHarvest, a startup that promised a high-tech future for farming and for the workers of Eastern Kentucky. Despite promising local jobs, the company eventually began contracting migrant workers from Mexico, Guatemala and other countries, numerous former employees told CNN. After about a week on the job, Vance took a meeting with AppHarvest founder Jonathan Webb, as Webb later recounted in a Fox News podcast interview. The company’s health care benefits attracted Morgan, a single father, who told CNN he took a pay cut to join the startup. Such comments ring hollow to some former AppHarvest workers, who argue Vance’s rhetoric as a candidate for vice president doesn’t align with the reality they experienced.
Persons: JD Vance, Vance, “ It’s, it’s, ” Vance, AppHarvest, Donald Trump’s, Kentuckians Vance, weren’t, , Anthony Morgan, , Luke Schroeder, AppHarvest’s, JD, Jonathan Webb, Webb, Peter Thiel’s, Thiel, Steve Case, Vance “, Morgan, ” Morgan, ’ ” Anthony Morgan, Shelby Hester, Hester, ” Hester, Grist, Andrew Miller, David Attenborough, Bethany, Gary Broadbent, “ AppHarvest, Mitch McConnell, Hester’s, Mitch Smith, bigwigs, CNN AppHarvest, Martha Stewart, Broadbent, doesn’t Organizations: CNN, Fox, Republican, US Department of Labor, PayPal, AOL, Fox News, AppHarvest, Morehead State University, Workers, Kentucky’s Education, Labor Cabinet, Kentucky Center, Investigative, Kentucky Republican, Securities and Exchange Commission, Retirement Association, Senate, Republican National Convention Locations: AppHarvest, Eastern Kentucky, Kentucky, Mexico, Guatemala, Ohio, Silicon Valley, Morehead, Appalachia, gurneys, Plymouth, Massachusetts, Canada,
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