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☆ San Francisco hopes to revive offices with AI companies
▼ + stars: | 2024-11-19 | 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 EmailSan Francisco hopes to revive offices with AI companiesCNBC's Kate Rooney and Michael Shvo, SHVO founder and CEO, join 'Power Lunch' to discuss San Francisco's office shift.

Persons: San Francisco, Kate Rooney, Michael Shvo Organizations: San

☆ How Trump's rich Cabinet members could save millions thanks to a little-known tax break
▼ + stars: | 2024-11-19 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

AdvertisementTwo of the reported candidates for Treasury Secretary made their fortunes on Wall Street, including billionaire Apollo CEO Marc Rowan. Eligible federal appointees can defer capital gains taxes indefinitely when they sell stock or other assets in order to avoid a conflict of interest. As a top earner in New York, they would normally have to pay more than $3 million in capital gains taxes. The sum that would have been spent on capital gains taxes is now free to compound and grow. The IRS allows investors to defer capital gains taxes in other scenarios that are deemed outside their control.

Persons: Donald Trump's, Trump, Howard Lutnick, Cantor Fitzgerald, Major Trump, Chris Wright, Marc Rowan, Bush, Goldman Sachs, Henry Paulson, George H.W, Bob Willens, You've, Scott Bessent, frontrunners, eyeing Rowan, Kevin Warsh, Morgan Stanley, Warsh, Jane Lauder, Rowan, Ed Renn of Withersworldwide, Penny Pritzker, Mark Parthemer, Willens, Renn Organizations: Commerce, of Energy, Treasury, Executives, Columbia Business School, Federal Reserve, Government, IRS Locations: George H.W . Bush, New York

☆ Federal jobs are known for their stability. Now they could be in jeopardy as Musk pushes for deep spending cuts.
▼ + stars: | 2024-11-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

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

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

☆ Robinhood to acquire TradePMR for $300 million: Here's what the CEOs have to say
▼ + stars: | 2024-11-19 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRobinhood to acquire TradePMR for $300 million: Here's what the CEOs have to sayVlad Tenev, Robinhood Chairman & CEO, and Robb Baldwin, TradePMR founder & CEO, join CNBC's 'Halftime Report' to discuss the acquisition and what it means for the fintech landscape.

Persons: Vlad Tenev, Robb Baldwin, CNBC's Organizations: Robinhood, TradePMR

☆ Jim Cramer weighs in on Liberty Energy
▼ + stars: | 2024-11-19 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Jim Cramer weighs in on Liberty Energy'Mad Money' host Jim Cramer takes a closer look at Liberty Energy after its CEO was tapped by Trump to take over energy department.

Persons: Jim Cramer Organizations: Liberty Energy, Trump

Russian President Vladimir Putin speaks during a plenary session of the Valdai Club on Nov. 7, 2024 in Moscow, Russia. Contributor | Getty Images News | Getty ImagesGlobal stocks fell and investors fled to safe-haven assets on Tuesday, as global markets reacted to escalating tensions between the world's two largest nuclear powers: Russia and the U.S. The pan-European Stoxx 600 stock index was down almost 1% at 12:23 p.m. London time, hitting 498.56 points — its lowest level since August. The declines come after Russian President Vladimir Putin amended Russia's nuclear doctrine that outlines the conditions that would prompt Moscow to deploy its nuclear arsenal, Russian state news agency Tass reported Tuesday. In currency markets, the Japanese yen rose 0.7% and 0.36% against the euro and U.S. dollar respectively at 12:26 a.m. London time.

Persons: Vladimir Putin, Dmitry Peskov, USDJPY, Wells, Erik Nelson, Putin, Tiffany McGhee, CNBC's, Ice Brent Organizations: Valdai, Getty, U.S, Dow Jones, Nasdaq, Russian Federation, NBC News, Swiss, CNBC, U.S ., NATO, White, Kremlin, Russian Defense Ministry, Kyiv, NBC, Ukrainian, Staff of, Armed Forces, Ice Locations: Moscow, Russia, London, U.S, Republic of Belarus, Russian, Ukraine, Kyiv, Soviet, Bryansk, America

☆ Influencing boomed to a $250B industry — and many small creators feel pushed out
▼ + stars: | 2024-11-19 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +5 min

According to a Goldman Sachs estimate, the industry is worth around $250 billion and could grow to $500 billion by 2027. "The market may be expanding, but competition is fierce," Tachat Igityan, the CFO and founder at Destream, a payment platform for content creators, told Business Insider. Advertisement"The algorithm, it gets really frustrating," Tufte told BI. "The $250 billion influencer economy might sound huge, but it doesn't mean all influencers are raking it in," Murray said. She said she thinks this is the way most content creators will go.

Persons: Goldman Sachs, Julia Montgomery, Marisa Kay, Ruby Tufte, Tufte, she's, Dominic Smales, Kim Murray, Murray, Smales, —, influencers Organizations: BI, YouTube, Gleam, GloMotion Studios, Virality, Brands Locations: TikTok

An unemployed UX designer, Lei had taken it upon herself to create the perfect work bag. Today, Lei is the 28-year-old CEO and founder of Freja, a New York-based company that sells work totes, shoulder purses and travel accessories. A 'really, really slow' startIn February 2019, Lei was a soon-to-be-unemployed graduate student at Cornell University preparing for a job interview in New York. She tried pairing three different work bags with her outfit, and none of them worked. "It was really, really slow for the first two years," says Lei.

Persons: Jenny Lei, She'd, Lei, —, Freja, Louis Vuitton, Dior, Celine, Loewe, Sandy Liang Organizations: CNBC, Cornell University Locations: Hoboken , New Jersey, New York, Bryant, Brooklyn, Guangzhou, China

☆ Insana: Stock market exuberance after Trump’s win could be overshadowing economic worries
▼ + stars: | 2024-11-19 | by ( Ron Insana | ) www.cnbc.com time to read: +5 min

In the wake of President-elect Donald Trump's Nov. 5th victory, the stock and bond markets have had decidedly different reactions to the news. Initially, the stock market surged, while bonds sold off and drove interest rates higher. The bond market, along with other inflation indicators, have shown some concern about the notion that tax cuts pay for themselves. There have also been worries that the Trump tax cuts, if extended, would add considerably to annual deficits and the sum of the national debt. The stock market is viewed more favorably by many, as was Zeus in "Clash of the Titans."

Persons: Donald Trump's, Biden, Trump, Elon Musk, Vivek Ramaswamy, Ramaswamy, Ron Insana Organizations: Nasdaq, Trump, of Government, Social Security, Congressional, Office, CNBC Locations: U.S, Trump's, China

☆ 'Mag 7' leads reversal — plus, we're adding a new stock to our Bullpen watchlist
▼ + stars: | 2024-11-19 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Next, we are going outside our current holdings and adding drugmaker Bristol Myers Squibb to the Bullpen, our watchlist of stocks that could join the portfolio. New Jersey-based Bristol Myers is in the midst of a transition phase under the leadership of new CEO Chris Boerner. Companies reporting earnings before the open Wednesday include Club stock TJX Companies , along with Target , Williams-Sonoma , and ZIM Integrated . THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Robert F, Kennedy Jr, Kennedy, Donald Trump, Wall, Eli Lilly, Bristol Myers, Chris Boerner, Boerner, Karuna, we'll, Stanley Black, Decker, Jim Cramer's, Jim Organizations: CNBC, ., Club, Nvidia, Dow Jones, of Health, Human Services, Senate, Bristol Myers Squibb, Bristol, pharma, Karuna Therapeutics, FDA, JPMorgan, Keysight Technologies, TJX Companies, Target, Williams, ZIM, Jim Cramer's Charitable Locations: New Jersey, U.S, Sonoma

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin rises to new record above $94,000: 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, Dennis Kelleher, co-founder and CEO of Better Markets, shares his criticism for the crypto industry's influence on the 2024 election.

Persons: explainers, Dennis Kelleher Organizations: CNBC Crypto, CNBC, Better

☆ McGhee: The market does not like uncertainty
▼ + stars: | 2024-11-19 | 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 EmailMcGhee: The market does not like uncertaintyTiffany McGhee, CEO & CIO at Pivotal Advisors, discusses the ongoing Ukraine conflict's limited long-term market impact and the U.S. economy's strength despite perceptions. She highlights the risks of a Trump presidency, especially regarding tariffs. McGhee also favors Amazon for the holiday season due to its strong retail position, while monitoring potential tariff concerns.

Persons: McGhee, Tiffany McGhee Organizations: U.S, Trump Locations: Ukraine

☆ Xiaomi's SU7, the EV that has US auto bosses talking, is smashing sales targets
▼ + stars: | 2024-11-19 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

The SU7 EV has proven a hit in China, and even attracted praise from Ford CEO Jim Farley. The tech giant said it surpassed its 100,000 annual sales target for the SU7 by November. Xiaomi's SU7 has got the whole auto world talking, and the smart EV is flying off the shelves in China, passing its annual sales goal with over a month to spare. AdvertisementElon Musk's company reported slipping sales in China in October, even as rivals like BYD, Xpeng, and Zeekr tout booming sales. Xiaomi's smartphone business, meanwhile, grew by 3.1% in the third quarter of 2024, slightly behind Apple's estimated 3.5% growth in the same period.

Persons: Jim Farley, Xiaomi's SU7, Xiaomi Organizations: Apple, Revenue, EV, Ford, Elon Musk's, Business Locations: China

☆ How RFK Jr's war on obesity in the age of Ozempic could shake up the booming weight-loss industry
▼ + stars: | 2024-11-19 | by ( Rebecca Torrence | Hilary Brueck | ) www.businessinsider.com time to read: +9 min

Robert F. Kennedy Jr.'s proposed appointment to lead the US Department of Health and Human Services could have big consequences for a booming weight-loss market. AdvertisementHis likely appointment comes at a pivotal moment for the weight-loss industry, as long-lasting shortages of drugs like Ozempic come to an end. When Farmbox launched in 2014 to deliver healthy food boxes and educate consumers about nutrition, "nobody wanted to invest in us," Tyrner-Dolce said. Doug Mills-Pool/Getty ImagesKennedy's crusade against Big Food could run up against Trump's pro-corporation agenda, though. AdvertisementWeight-loss companies could get more attention — at a costKennedy's focus on holistic chronic disease care, including obesity care, could see a renewed funding rush to the space.

Persons: Trump, Robert F, Kennedy Jr, Kennedy, he's, Obama, Ashley Tyrner, Dolce, Farmbox, FarmboxRx, Michelle Obama, SAUL LOEB, Kennedy's, Jeff Nobbs, Nobbs, Doug Mills, Elon Musk, Donald Trump Jr, podcaster Joe Polish, Brooke Boyarsky Pratt, There's, Knownwell Pratt, Pratt, John Stanford Organizations: Human Services, US Department of Health, National Institutes of Health, Food and Drug Administration, Trump, Big Pharma, Senate, Novo Nordisk, Centers, Medicare, Services, Getty, Street, Department of Health, US Department of Agriculture, Shack, Business, Big Food, Trump's, KFC, McDonald's, Fox, FDA, Moderna Locations: Pennsylvania, Washington

☆ Meet Wall Street billionaire Howard Lutnick, Donald Trump's nominee for commerce secretary
▼ + stars: | 2024-11-19 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com time to read: +1 min

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

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. Lutnick 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: Howard Lutnick, Cantor Fitzgerald, Donald Trump, Lutnick, Trump, Lutnick's, Elon Musk, evincing Organizations: Republican, WASHINGTON, Commerce Department, The Commerce Department, Haverford College, New, Trade, Punchbowl News, Trump, Treasury, Elon, Department of Government Locations: Madison, New York City, U.S, United States, Pennsylvania, New York

☆ Wall Street analysts tout our 2 cybersecurity stocks ahead of quarterly earnings
▼ + stars: | 2024-11-19 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Wall Street analysts are showing two cybersecurity stocks some love ahead of their quarterly results. In addition, Truist on Monday raised its price target on Palo Alto to $425 from $387 a share. "Larger platformization deals are leading to bigger long-term commitments," Truist said, citing conversations with Palo Alto customers and partners. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance Big picture Palo Alto Networks had a rocky start to 2024. And as with Palo Alto, remarks from management should give us a peek into the state of cyber spending overall.

Persons: Jefferies, Truist, management's, Nikesh Arora, Jim Cramer, Morgan Stanley, Jim, Jim Cramer's, Eduardo Munoz Organizations: ISI, Palo Alto Networks, Palo, Alto Networks, Palo Alto, CNBC, Traders, New York Stock Exchange Locations: Palo Alto, Ukraine, Russia, Palo, billings, New York, U.S

☆ Visa and Mastercard execs grilled by senators on 'duopoly,' high swipe fees
▼ + stars: | 2024-11-19 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +4 min

Interchange fees, also known as swipe fees, are paid from a merchant's bank account to the cardholder's bank, whenever a customer uses a credit card in a retail purchase. "In 2023 alone, Visa and Mastercard charged merchants more than $100 billion in credit card fees, mostly in the form of interchange fees," Durbin told the committee. Visa and Mastercard, however, stand by their swipe fees. But the current high credit card swipe fees for retailers translate to higher prices for consumers, the National Retail Federation told the committee in a letter ahead of the hearing. "Last year, the average American spent $1,100 in swipe fees, more than they spent on pets, coffee or alcohol."

Persons: Bill Sheedy, Linda Kirkpatrick, Democratic Illinois Sen, Dick Durbin, Durbin, Republican Kansas Sen, Roger Marshall, Ryan McInerney, Sheedy, Americas Linda Kirkpatrick, Dodd, Frank, Roger Alford, General Merrick Garland Organizations: Visa, Americas, Mastercard, Committee, Democratic Illinois, Republican Kansas, Credit, National Retail Federation, Notre Dame University Locations: Washington ,

☆ I tried Snap's AR glasses, Spectacles. They're a good start to get Gen Z users interested in smart eyewear.
▼ + stars: | 2024-11-19 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

AdvertisementSnap's new Spectacles offer AR features like piano lessons and video calls. While the Vision Pro is a heavier corded headset, Meta's smart glasses are more like sunglasses with a camera and an AI assistant. AdvertisementSome features were clunky but impressiveOne of the Spectacles Lenses offered virtual piano lessons. AdvertisementGoogle tried and failed to break open the smart glasses market in the past, but that hasn't stopped CEO Mark Zuckerberg from showing off another pair of smart specs, Orion, at Meta Connect in September. AdvertisementI was impressed by the Spectacles demo, but I'm still waiting for a feature that makes them feel like a must-have.

Persons: Meta's Ray, Jordan Hart, They're, Evan Spiegel, I've, It's, hasn't, Mark Zuckerberg, haven't, Peter Kafka, Orion, they're, I'm Organizations: Apple's Vision, Apple Vision, Google, Meta Connect

☆ No doubt there is a narrow window of opportunity to take action on climate change, says Paul Polman
▼ + stars: | 2024-11-19 | 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 EmailNo doubt there is a narrow window of opportunity to take action on climate change, says Paul PolmanPaul Polman, former Unilever CEO, business leader, campaigner and co-author of "Net Positive," discusses climate financing at COP29 and what a second term from President-elect Donald Trump means for the global fight against climate change.

Persons: Paul Polman Paul Polman, Donald Trump Organizations: Unilever

☆ Walmart may have to raise some prices if Trump tariffs take effect, CFO says
▼ + stars: | 2024-11-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Walmart 's CFO, John David Rainey, said the retailer could 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. "Tariffs, though, are inflationary for customers, so we want to work with suppliers and with our own private brand assortment to try to bring down prices."

Persons: John David Rainey, Donald Trump's, Rainey, Lowe's, Walmart's, Brandon Sink, Marvin Ellison, it's, We're, We've, Matthew Shay, Tarang Amin, Steve Madden, Gabrielle Fonrouge Organizations: Walmart, Walmart Inc, CNBC, National Retail Federation Locations: Martinez , California, U.S, China

☆ Roblox CEO on new safety updates following October Hindenburg report
▼ + stars: | 2024-11-19 | 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 EmailRoblox CEO on new safety updates following October Hindenburg reportDavid Baszucki, Roblox CEO, joins 'Squawk Box' to discuss the list of new safety products available for users, the chief executive's first reactions to the short report, and much more.

Persons: Hindenburg, David Baszucki

☆ The way the market is discounting geopolitical risk is a tragic mistake, says CME CEO Terry Duffy
▼ + stars: | 2024-11-19 | 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 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

☆ Microsoft introduces PC that has one job: connect users to their computers in the cloud
▼ + stars: | 2024-11-19 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

Microsoft CEO Satya Nadella watches from the audience during a press briefing at Microsoft's campus in Redmond, Washington, on May 20, 2024. Microsoft is previewing a new PC that's designed to connect corporate workers to their programs and files in the cloud. The Windows 365 Cloud Link is available in limited use in the U.S., Canada and a handful of other countries. After years spent failing to crack the list of top PC manufacturers with its Surface product line, Microsoft is trying something new in an established category of hardware. It runs a stripped-down operating system called Windows CPC, with no local applications or local users, and has a strict application control policy that can't be disabled.

Persons: Satya Nadella, Jalleen Ringer Organizations: Microsoft, CNBC, Windows Locations: Redmond , Washington, U.S, Canada

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