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AdvertisementThe tariffs Donald Trump proposed while campaigning could help create US semiconductor jobs. To be sure, the impacts of a tariff policy on chips could be mixed. He said that the federal government should have implemented tariffs instead to motivate global chipmakers to build more factories in the US, which would then create jobs. AdvertisementTo be sure, the impacts of a tariff policy on chips could be mixed. In August, the White House said that investments supported by CHIPS Act funding would help create 115,000 construction and manufacturing jobs.
Persons: Donald Trump, podcaster Joe Rogan, Trump, Jeff Koch, SemiAnalysis, Patrick Moorhead, Jeff Ferry, Ferry, Stephen Ezell, Ezell Organizations: US, Industry, Biden, Samsung, Coalition for, Prosperous, Semiconductor Industry Association —, Intel, Information Technology, Innovation Foundation, Apple Locations: Taiwan, China, South Korea, Prosperous America, Arizona, India, United States
Now that the election is over, and a change at the FTC seems highly likely, Wall Street is getting ready for a new era. "In my opinion, bank M & A has reopened for every bank absent the globally systemically important banks," Mills told CNBC. DFS 1M mountain Shares of Discover Financial rallied sharply after the election of Donald Trump. The merger between those two companies was blocked by a judge and then dropped this past week , but both companies could be players moving forward. There's still a populist tone in the Trump campaign … and enforcement, in my opinion, is not going to go away.
Persons: Trump, Lina Khan, Carlyle, Harvey Schwartz, Morgan Stanley, Stephanie McCann, McDermott Will, Emery, Wolfe, Naturium, Goldman, Ed Mills, Raymond James, Mills, Donald Trump, Joe Biden's, Matt Gaetz —, , There's, Kyle Healy, Alston, Michael Lynton Organizations: Federal Reserve, Federal Trade, FTC, Federal, CNBC, Wolfe Research, Amazon, Electronic Arts, Zoom Video Communications, EA, Activision Blizzard, Capital, Discover Financial Services, DFS, Discover Financial, Spirit Airlines, Frontier, JetBlue, Regulators, Trump, Bird, Warner Music Locations: Washington
AdvertisementAvi Singh and Rishi Rajpal left their stable jobs to open a New York City cocktail bar in 2019. This as-told-to essay is based on a conversation with Avi Singh, 30, and Rishi Rajpal, 34, the co-owners of Sama Street, and David Muhs, 40, the head bartender at Sama Street. We wanted Sama Street to be based on our upbringing and experiences. AdvertisementWe opened Sama Street in 2019David: We learned so much during that process. But Sama Street is in Greenpoint, a very close-knit neighborhood, so our regulars showed up for us.
Persons: Avi Singh, Rishi Rajpal, David Muhs, Jake, Kristyn Cook, Avi, Rishi, Alex Staniloff, David, We've, It's Organizations: Emory, Excel Locations: New York City, Sama, New Delhi, India, Atlanta, New York, Greenpoint
AdvertisementKatie Vasquez landed her first venture capital job at 23 years old. This as-told-to essay is based on a conversation with Katie Vasquez, a 26-year-old investor at Calibrate Ventures based in Santa Monica, California, on her experience working in venture capital. I'm an investor at Calibrate Ventures, an early-stage deep-tech venture capital firm. My advice for other people hoping to get into VC is to leverage your network and stay up to date on the industry. This experience provided a great foundation for thinking more about technical due diligence, tech architecture, and strategy, but moving into investing and venture capital felt like the most exciting path.
Persons: Katie Vasquez, I've, I'm, I'd Organizations: Brown University, Goldman, LA Tech, Synergist, Investor, Business Locations: Santa Monica , California, EY, fintech, Los Angeles, LA
CNN’s national exit polling this year found that immigration was a strong issue for Trump in this election, but it doesn’t suggest a mandate for mass deportation. Voters gave Trump a roughly 9-point advantage over Vice President Kamala Harris on trust to handle immigration, according to the latest data. Complicating those findings is the fact that polling this year has found widely disparate levels of support for deportation. Surveys that ask respondents to choose between deportation and a path to citizenship, meanwhile, often find more support for the latter. Regardless of framing, however, national polls agree on a rise in support for deportation policies over recent years, coupled with a broader increase in nativist sentiment.
Persons: Donald Trump, , Trump, Kamala Harris, Harris, , , Michael Tesler, Joe, Biden, CNN’s Henry Gertmenian Organizations: CNN, Trump, Voters, Gallup, Marquette Law School, CBS, Pew Research Center Locations: United States, Marquette, U.S
On the right, familiar conspiracy theories about voting popularized by President-elect Donald Trump continued to circulate. NewsGuard said there was “no evidence” that Starlink was used to interfere with the presidential election in Trump’s favor. As the 2024 election results were reported, social media users on the left began to speculate about Musk’s role in vote counting. “Kamala Harris left us a breadcrumb,” one TikTok user said about the updated language on the fund’s website in a video that received over 700,000 views. CISA responded to this speculation on its website’s “Rumor vs. Reality” resource, where it has debunked election misinformation.
Persons: Donald Trump, Kamala Harris, Sam Howard, NewsGuard, Elon Musk’s, Starlink, Max Read, ” Read, , , denialism, ” NewsGuard’s Howard, ” Howard, Howard, Trump, weren’t, Musk, Joe Rogan, Theo Von, Harris, “ Starlink, Elon Musk, Jen, “ Kamala Harris, CISA Organizations: President, Facebook, NBC, Institute for Strategic, NBC News, Trump, Conservative, , Cybersecurity, Infrastructure Security Agency, Fund, Republicans, Street Journal, Democratic National, Harris, Democratic Party, FBI Locations: NewsGuard’s U.S, U.S, Wisconsin, Trump’s, Pennsylvania, California
Ford Motor Company has agreed to pay $165 million, the second-largest auto penalty ever issued by the National Highway Traffic Safety Administration, to settle charges it failed to comply with federal recall requirements. “The total civil penalty amount of $165 million is second only to the Takata airbag consent order in the agency’s 54-year history,” the NHTSA said in a statement. The Ford penalty stems from a multi-year investigation into the automaker's handling of defective rollover safety cameras on a number of its models, including its popular F-150 trucks and Explorer SUVs. In a statement, Ford said it disagreed with NHTSA's findings but that it was pleased to administratively settle the dispute with the regulator. Power's "initial quality" report earlier this year as a sign the company is making progress on addressing those issues.
Persons: Ford, Sophie Shulman, ” Ford, Jim Farley, Farley Organizations: Ford Motor Company, National, Traffic Safety Administration, NHTSA, Ford, Barclays Locations: J.D
Former Rep. Tulsi Gabbard, D-Hawaii, at the Faith & Freedom Coalition's 2024 Road to Majority Conference, in Washington, DC., on June 21. But current and former intelligence officials fear that Gabbard will refuse to relay intelligence reporting that doesn’t fit in with her — or the president’s — worldview. “Would that predisposition translate into pressure on analysis to fit the administration’s policy goals?” one senior former intelligence official said. “We’ll see.”Previous administrations have clashed with the CIA and intelligence agencies over assessments that didn’t support their policy agendas or their views about a particular threat or an adversary’s intentions. The DNI’s job “is to define the world as it is, as opposed to advocating for a world as you want it to be,” the former intelligence official said.
Persons: Tulsi Gabbard, , , Gabbard, Michael Brochstein, Donald Trump’s, George W, Saddam, Trump, Vladimir Putin, Bashar al, Assad, ” Gabbard, Syria’s Assad, Matt Gaetz, autocrats, Putin, Egypt’s Abdel Fattah el, Sissi, Narendra Modi, Modi, Jason Crow, ” Crow Organizations: NATO, Former, Faith, Majority Conference, Senate, CIA, Democratic, Indian, Modi, House Intelligence, NBC News Locations: Russia, Ukraine, Kyiv, Hawaii, Western, Washington ,, Former U.S, New Hampshire, Syria, Washington, Ukrainian, DNI, Cairo, United States, U.S, autocrats, United Kingdom, Australia, Canada, New Zealand
WASHINGTON — President-elect Donald Trump’s consistent campaign pledge to impose sweeping tariffs on products imported into the U.S. is likely to face stiff challenges in court and potentially pushback from Congress. There are potential legal limits to Trump’s authority, even though he has said he would unilaterally impose the increases. But a broad array of tariffs on allies “could cross the line,” especially as the Supreme Court has taken a generally pro-business stance in recent years, he added. During the Biden administration, the Supreme Court embraced a theory called the “major questions doctrine.” Biden’s ambitious plan to wipe out billions of dollars in student debt was one of the proposals the Supreme Court faulted. The Supreme Court declined to take up the issue.
Persons: Donald Trump’s, Trump, he’s, Joe Biden, , Alan Morrison, , ” Morrison, , ” Trump, Ed Brzytwa, Brzytwa, Sen, Rand Paul, Rick Scott, ” Scott, Petros Mavroidis, , Jennifer Hillman, Hillman, Biden, Matt Priest, “ We’ll, ” Priest Organizations: WASHINGTON, China . Industry, George Washington University Law School, Chicago Economic Club, National Bureau of Economic Research, Federal Reserve Board, Consumer Technology Association, “ Consumers, CTA, Fox News, Sunday, Republicans, Columbia Law School, Georgetown Law Center, of International Trade, Trump, Appeals, Federal Circuit, Supreme, Federal Communications, Federal Energy Administration, Footwear Distributors, Retailers of America Locations: U.S, Congress, China, United States, Ky, Canada
The Dallas-area influencer who had her spider monkey taken from her Saturday after a drunk driving crash is under investigation after the monkey was determined to be malnourished, officials said Friday. Brandi Botello's spider monkey, named Jorgie Boy, was taken from her following the crash in which Dallas police arrested the driver on a charge of driving while intoxicated. She told the station she was drunk and asleep in the passenger seat while holding Jorgie Boy when the crash happened. Jorgie Boy is the size of a 1-year-old monkey even though he will turn 3 in February. It might take over a year to get Jorgie Boy to a point where he is strong enough to play with other monkeys again, Johns said.
Persons: Brandi Botello's, Irving, Delaney Brey, Brey, rickets, Brandi Botello, Fort Worth Botello, Botello, Jorgie, Dwan Johns, Johns, Boy, Jorgie Boy, wasn't Organizations: Dallas, Police, Botello, NBC Dallas, Fort Worth, Irving Animal Services Department, Fort, Dwan, NBC, Jorgie, Irving Animal Control Locations: Dallas, Texas, Irving, Fort Worth
"Forthcoming medications take the blockbuster GLP-1 medications and up the ante." Like semaglutide (the active ingredient in Ozempic and Wegovy), it works on GLP-1, a hormone that regulates blood sugar and appetite. CagriSema adds it to the already-popular drug semaglutide, which itself helps manage hunger and blood sugar levels. "Longer-acting versions of GLP-1 medications offer the potential for greater convenience and potentially improved adherence and sustained use over time," McGowan said. Timeline: Data from Phase II trials is expected later this year, and planning is underway for Phase III trials.
Persons: Eli Lilly, Dr, Christopher McGowan, Eli Lilly's, Ozempic, retatrutide, VK2735, we've, they're, McGowan Organizations: Pharma, Novo Nordisk, Viking Therapeutics, Triple, Therapeutics, FDA, orforglipron, Nordisk, Reuters Locations: GLP, Mounjaro, California
Americans paid a whopping $47,612 on average for a new car in October, according to data from Edmunds. That means new car prices have risen much faster than most goods and services. But much of the reason Americans are paying nearly $50k for a car is that automakers decided to go all-in on expensive cars. The combination of higher interest rates and higher car prices, along with the biggest average loans ever taken out to buy them, lifted the average monthly car payment to $742 in October. And that would make every car built in America more expensive, because no vehicle is made with 100% American parts.
Persons: New York CNN — It’s, That’s, Buyers, , Ivan Drury, , didn’t, Charlie Chesbrough, Drury, , ” Drury, Donald Trump, Jeff Schuster, GlobalData, They’re Organizations: New, New York CNN, Cox Automotive, Nissan, Infiniti, General Motors, Ford, Jeep, Dodge, Chrysler, GM, Federal Reserve Locations: New York, Edmunds, American, United States, Stellantis, Mexico, America
Trump said he plans to change the Affordable Care Act, which provides healthcare for 45 million Americans. AdvertisementDonald Trump's return to the Oval Office could mean changes to Americans' healthcare coverage, based on his previous comments and actions while president. AdvertisementAs president, he will also have the power to influence America's healthcare landscape, including insurance coverage, drug price negotiations, government health and safety regulations, and reproductive healthcare access. Any changes to Medicaid and Medicare under Trump could also cause those with ACA insurance see a reduction in their care options. This could mean some Americans on ACA plans could face higher out-of-pocket costs and fewer in-network care options.
Persons: Trump, Donald Trump's, Barack Obama, Ji, Joe Biden's, Robert F, Kennedy Jr, Kennedy, Karoline Leavitt, Vance Organizations: Affordable, ACA, of Health, Human Services, Congressional, Office, Business, Trump, Georgetown University, DC, Insurance, Department of Health, Congress, Republican, House
CNBC Pro combed through Bank of America research to find stocks the bank believes are "best-in-class." They include Carvana , ESAB, Netflix , Texas Roadhouse and Johnson Controls . Texas Roadhouse Analyst Sara Senatore is sticking with shares of the Texas-themed restaurant following earnings in late October. BofA says Texas Roadhouse benefits from low staff turnover, innovative technology and same-store sales that continue to improve. In addition, Senatore called traffic growth "best-in-class" with month-to-month improvement even as the wider industry battles numerous headwinds.
Persons: Jessica Reif Ehrlich, Reif Ehrlich, Sherif El, BofA, ESAB, Sara Senatore, Senatore, Johnson Organizations: Bank of America, CNBC, Netflix, Texas, Johnson Controls, BofA, Gaming, El, JCI Locations: Bank, El, Texas, U.S, North America
Under a 25% tariff on goods from China, the Wall Street investment bank sees an EPS loss for Apple of 9.2%. Those estimates make Apple the fifth most vulnerable tech company to potential tariffs on goods from China in Morgan Stanley's research coverage. Bank of America analyst Wamsi Mohan agrees, seeing any tariff impact as "manageable." He sees a 60% tariff on Chinese goods possibly resulting in about a 4% hit to Apple's EPS. By contrast, Dell – which he noted looks positioned to be "most vulnerable" to tariffs – could see an EPS impact of up to about 90%, according to his model.
Persons: Donald Trump's, Tim Cook's Apple, Morgan Stanley, Erik Woodring, Trump, Tesla, , Morgan, it's, Angelo Zino, Zino, Wamsi Mohan, Apple, Bernstein, Toni Sacconaghi, Sacconaghi, It's, BofA's Mohan, Mohan, Jason Snipe Organizations: Apple, Wall, CNBC, of, Bank of America, Dell, Odyssey Capital, Apple Intelligence Locations: China, U.S, India, Vietnam, Malaysia
Alcohol harm expert Richard Piper used to drink heavily. His 'dry by default' rule helped him reduce the risks of drinking without going sober. Being "dry by default" means Piper will drink on rare occasions rather than most days, for example when non-alcoholic alternative to a beer he likes isn't available. Advertisement"There is no such thing as healthy drinking," Piper said. AdvertisementDrinking doesn't only bring health risks.
Persons: Richard Piper, Piper, Zers, Gallop, Niall Carson Organizations: Gallup, Getty Images Research, European, of Public Health, European Union, US Department of Health, Human Services
The 22-year-old content creator approached her doctor about weight loss medication in March, before she had breast reduction surgery. Method: Zepbound, diet changes, exerciseZepbound, diet changes, exercise Duration: Took Zepbound from May to October. “The breast reduction was a big step, but the weight loss put a little cherry on top,” she said. Method: Compounded semaglutide, diet changes, exerciseCompounded semaglutide, diet changes, exercise Duration: Took compounded semaglutide from February to May. Method: Ozempic, diet changes, exerciseOzempic, diet changes, exercise Duration: Took Ozempic from May 2020 to October 2023“I was very close to being 300 pounds.
Persons: Sanjay Gupta, , Eduardo Grunvald, Alexus Murphy, CNN Alexus Murphy, Alexus, Murphy, It’s, it’s, , ” Murphy, Alexus Murphy She’s, “ It’s, “ I’m, you’re, Steven Ray, Ray, he’s, ” Ray, Becky Bell, CNN Becky Bell, she’s, Bell, ” “, ” Ozempic, Max Nazaire, ” Bell, Nazaire, She’s, Ozempic, Dustin Gee, CNN Dustin Gee, didn’t, I’ve, , ” Gee, Gee, , Cristian, Emanuel, Jackson, Alex, Gee's, Dr, CNN’s Tal Yellin Organizations: CNN, CNN — Research, University of California, BMI, Houston, Inland, Health, Medi, Cal, US Food and Drug Administration, FDA, , Bell, Ozempic, Mayo Clinic Diet, Get CNN, CNN Health Locations: San Diego, California, Houston, Woodstock , Georgia, Safe Haven, Peru, Bellingham , Massachusetts, Lima
As an unwed woman and frequent wedding guest in 2024, I am maybe too attuned to the ways weddings have become increasingly extravagant. On Reddit, one user noted that being a bridesmaid in her best friend’s wedding in a Scandinavian town, where the friend’s family is from, is going to run her $8,000. And some guests are being denied plus-ones, making attending the wedding less of a joy and more of a dutiful chore. Even in times of high inflation, like now, while some may try to cut back, expensive weddings prevail. Weddings are the rare time in life where everyone you care about will likely come together — friends, family and loved ones.
Persons: Rutherford B, Hayes, Lucy Webb, Webb, Katherine Jellison, ” Jellison, I’ll, I’ve, I’m, , weren’t, Jellison, , you’re, there’s, We've, DP, Anni Jones, “ We’ve, Styles, Nova Styles, ” Nova, ” Reemo, , influencers –, It’s, Taylor Alxndr, Aurie Singletary Taylor Alxndr, Alxndr Organizations: CNN, Ohio University Locations: Cincinnati, Greece, , Prague, y’know, Manhattan, New York, Atlanta
.SPX 1M mountain S & P 500, 1 month The S & P is still about 3-4% above levels where chart readers would start to get more concerned about the underlying trajectory. Even in Friday's 1.3% slide in the S & P 500, only two-thirds of all stocks were down on the day and the equal-weight S & P was off a modest three-quarters of a percent. It makes sense that the market wasn't able to summon a sustained thrust of exuberance after the election anxiety evaporated, given the somewhat demanding starting point. A more mature economic and risk cycle and vulnerability to higher rates among smaller, lower-quality stocks mean they aren't likely to lead from here, Pies says. Is the market presciently foretelling an unleashing of transactional fervor that will return Wall Steet's middlemen to their former glory?
Persons: Goldman Sachs, Russell, Jay Powell, Warren Pies, Goldman Organizations: Nasdaq, KBW, ICE, Trump, Federal Reserve, Investors, Bank, 3Fourteen Research, Wall Street Locations: Friday's
Now, ValueAct has engaged another titan of the market, Meta Platforms, announcing an approximately $1 billion dollar position in the company. With the stock price up about 56% in 2024, ValueAct still sees significant untapped value in Meta. ValueAct has shown at Microsoft and Salesforce that it is very good in helping companies trim fat and build muscle. The AI spending, while concerning to some in the market, can be the muscle that strengthens Meta's core FoA business. It should more than justify Meta's AI spend.
Persons: ValueAct, Mason Morfit, Mark Zuckerberg, OpenAI's GPT, Meta, Martha Stewart Living, Ken Squire Organizations: Reality Labs, Facebook, Microsoft, Meta, RL, Spotify, OpenAI, Adobe, New York Times, Expedia, Century Fox, KKR, 13D Locations: Salesforce
Part of the reason is due to a tax credit program that the Cybertruck has been largely left out of. Tesla is offering the Cybertruck for lease a year after the EV company made its first deliveries to customers. However, leasing an EV offers buyers another way to take advantage of the tax credit program without meeting every requirement. Through what's known as a "leasing loophole," dealerships can receive the tax credit and choose to pass those savings on to the buyer or lessee. But Tesla's Cybertruck has largely been left out of the federal incentive program.
Persons: Tesla, Elon Musk's, Rivian, Tesla's Cybertruck Organizations: EV, Biden, Internal, Department of Energy's
Russia's wartime economy could be in it for the long-haul — or at least longer than expected. A team of economists is unconvinced that Russia will tumble into economic collapse any time soon, as suggested by some analysts. The paper counters notions that a Russian crisis will come as soon as next year, an argument made by economists such as Yuriy Gorodnichenko. Don't underestimate domestic demandAccording to the report, Russia's domestic market has been an underrated factor behind the country's perseverance. Sustainable war spendingSome have forecast an immediate recession if Russia's war in Ukraine ever ends, arguing that the Kremlin's massive war budget is responsible for the economy's continued survival.
Persons: Yuriy Gorodnichenko, shouldn't Organizations: Center, UC Berkley, CASE, Kremlin, Moscow Locations: Russia, Europe, Russian, Moscow, Ukraine
AdvertisementDon Saladino, a personal trainer to celebrities, said he's in the best shape of his life at 47. His training regime includes strength and interval training, and hockey. If he can fit a fifth lifting day into his week, Saladino does accessory movements such as arm exercises and ab interval work. AdvertisementPlaying hockey for funDon Saladino (second from left) plays hockey twice a week. Lars Niki/Getty ImagesSaladino plays hockey twice a week, often at 6:30 a.m., he said.
Persons: Don Saladino, he's, Saladino, Ryan Reynolds, Blake Lively, Sebastian Stan, Anne Hathaway, Lars Niki Organizations: Navy, Research Locations: New York
This week, researchers shared fascinating new findings on Uranus, the seventh planet from the sun, and the far side of the moon. Other worldsIllustrations depict how Uranus' magnetosphere, or protective bubble, was behaving before Voyager 2's arrival (left) and during the spacecraft's flyby (right). An unusual cosmic occurrence during the Voyager 2 spacecraft’s 1986 flyby might have skewed how scientists characterized the ice giant, new research suggests. In particular, the spacecraft’s observations of Uranus’ protective magnetosphere were wildly different from astronomers’ expectations. Fortunately, sending a dedicated mission to study Uranus in the future is a priority for NASA, according to a 2022 report.
Persons: Jamie Jasinski, paleoanthropologist Don Johanson, what’s, Lucy, Johanson, , afarensis, doesn’t, Bathydevius, Bruce Robison, , Marvel, Ashley Strickland, Katie Hunt, Jackie Wattles Organizations: CNN, NASA, JPL, Caltech, Jet Propulsion Laboratory, Nature Reserve, WWF Tigers, Fund, Nature, Aquarium Research, CNN Space, Science Locations: Pasadena , California, Afar, Central Asia, Turkey, Russia, Indonesia, Kazakhstan, Caspian, Netherlands, Kuma, Kazakhstan’s Ile, California, Mt, Everest, Monterey, what’s, Iraq
“It’s like Typhoid Mary being in charge of food safety.”But another group was celebrating Trump’s pick: the anti-vaccine movement Kennedy leads. She and Polly Tommey, director of CHD.TV and a longtime anti-vaccine activist, reflected on Kennedy’s power within their campaign. Holland urged viewers to “educate” the public and Congress that Kennedy’s anti-vaccine claims were accurate, aiming to boost his support among senators who would vote on his confirmation. Kennedy now has a chance to bring that advocacy into the top public health office in the country. Stone replied, “I am over the moon about the appointment.”Others relished how Kennedy might bring a dreamed-about reckoning in public health agencies and retribution against former public health officials.
Persons: Donald Trump’s, Robert F, Kennedy Jr, , Mandy Cohen, ” “, Richard Besser, Kennedy, Paul Offit, Mary, Mary Holland, Polly Tommey, “ Bobby Kennedy, ” Holland, , ” Tommey, Holland, Bobby Kennedy, wouldn’t, he’s, Del Bigtree, Michaela Roman, Dr, Sherri Tenpenny, Trump, Steve Kirsch, Kirsch, Alex Azar, ” Kennedy, “ We’re, Alex Jones, Roger Stone, Stone, Steve Bannon, Fauci, Anthony Fauci, Naomi Wolf Organizations: Department of Health, Human Services, , Centers for Disease Control, Children’s Hospital of Philadelphia, Health Defense, , MAHA Alliance, Kennedy’s, Oregon Capitol, Vaccine Safety Research Foundation, RFK, CDC, National Institutes of Health, Food and Drug Administration, NIH, National Institute of Allergy, Bannon’s
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