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☆ Germany’s Thyssenkrupp Steel to lay off thousands of workers
▼ + stars: | 2024-11-25 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Thyssenkrupp Steel has announced plans to eliminate 11,000 jobs by the end of this decade — about 40% of its workforce — becoming the latest German industrial giant to opt for drastic action to prop up its fortunes. “Increasingly, (global) overcapacity and the resulting rise in cheap imports, particularly from Asia, are placing a considerable strain on competitiveness,” Thyssenkrupp Steel said in a statement. Thyssenkrupp, Germany’s largest steel producer, joins the country’s biggest manufacturer Volkswagen in setting out a major overhaul to cut costs and bolster competitiveness. The German automaker also plans to close at least three factories in its home country and lay off tens of thousands of staff. “Locational weaknesses” include high energy costs, onerous red tape, and outdated physical and digital infrastructure.

Persons: Steel, carmaker Ford Organizations: London CNN, Thyssenkrupp, European, European Commission, Volkswagen, Federation of German Industries, Boston Consulting Group, German Economic Institute Locations: Asia, Ukraine, German, Europe, Germany, United Kingdom, Thyssenkrupp

☆ Antitrust expert Doug Melamed on DOJ's antitrust trial against Google over ad tech
▼ + stars: | 2024-11-25 | 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 EmailAntitrust expert Doug Melamed on DOJ's antitrust trial against Google over ad techDoug Melamed, Stanford law professor, joins CNBC's 'Squawk on the Street' to discuss the DOJ vs Google antitrust advertising trial, the implications of the case for Alphabet and the rest of the tech sector, and more.

Persons: Doug Melamed Organizations: Google, Stanford, DOJ

☆ Watch Monday's full episode of the Halftime Report — November 25, 2024
▼ + stars: | 2024-11-25 | 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 EmailWatch Monday's full episode of the Halftime Report — November 25, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.

Persons: CNBC's Scott Wapner Organizations: CNBC PRO

☆ RBC sees the S&P 500 rising to 6,600 in 2025, but expects a 5%-10% correction near term
▼ + stars: | 2024-11-25 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

The S & P 500's rise to fresh heights in the new year will not be in a straight line, according to RBC Capital Markets. Strategist Lori Calvasina issued a year-end 2025 target for the broad market index of 6,600. The S & P 500 has rallied 3.2% since Donald Trump secured a second presidential term, raising expectations of lower taxes and deregulation. To be sure, Calvasina thinks there will be 5%-10% correction in the near term before equities resume their march to all-time highs. Last week, Goldman Sachs set a 6,500 target for the S & P 500, while BMO issued a forecast for the benchmark index to surge all the way to 6,700 .

Persons: Lori Calvasina, Donald Trump, Calvasina, Goldman Sachs, Bernstein Organizations: RBC Capital Markets, Health, BMO Locations: Friday's, Bitcoin

☆ Analysts see Apple AI efforts boosting sales for a business you might not expect
▼ + stars: | 2024-11-25 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

The results showed that 78% of prospective buyers of AI-enabled iPhones would pay a monthly subscription to get unlimited access to Apple Intelligence features. Similar to Morgan Stanley, the Melius analysts pointed to the delayed release of Apple Intelligence. Similar to Morgan Stanley and Melius, we see Apple's iPhone upgrade cycle as a story in the coming quarters, rather than right now. Don't trade Apple." With the delayed rollout of Apple Intelligence, it's clear to us that users may take longer to switch up to newer models.

Persons: Morgan Stanley, iPhones, gamed, Said, Melius, Jim Cramer, Morgan Stanley's, Jim, It's, Apple's, Donald Trump's, Jim Cramer's Organizations: Apple Intelligence, Huawei, Apple, Research, Management, CNBC, Nurphoto, Getty Locations: China, India, Manhattan , New York

☆ Treasury yields fall as investors endorse Trump's Treasury secretary pick, await inflation data
▼ + stars: | 2024-11-25 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +2 min

U.S. Treasury yields were lower on Monday as investors weighed President-elect Donald Trump's Treasury secretary pick and eyed a key inflation reading due later in the week. Trump's choice of hedge fund executive Scott Bessent as Treasury secretary has calmed investors' nerves about the future of the U.S. economy. Bessent, the founder of Key Square Group, is expected to back the incoming president's economic goals including gradual tariffs and pro-business policies. However, as an old Wall Street hand and a fiscal conservative, investors believe Bessent will prioritize stability in the U.S. economy and markets. Also in focus this week are some key data points due ahead of a shortened trading week.

Persons: Donald Trump's, Scott Bessent, Kit Juckes, Trump, Bessent, Dow Jones Organizations: Treasury, U.S, Key Square, Societe Generale, CNBC, Federal, U.S . Federal Locations: U.S, U.S .

☆ Watch Monday's full episode of Fast Money — November 25, 2024
▼ + stars: | 2024-11-25 | 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 EmailWatch Monday's full episode of Fast Money — November 25, 2024"Fast Money" is America's post-market show. Hosted by Melissa Lee and a roundtable of top traders, "Fast Money" breaks through the noise of the day, to bring you the actionable news that matters most to investors.

Persons: Melissa Lee

In one instance he requested as much as $100,000 per month in exchange for his services, according to sources familiar with the matter. As of Monday afternoon, it does not appear the transition team will heed that recommendation. “I am honored to work for President Trump and with his team,” Epshteyn said in a statement to CNN. Trump’s legal team was investigating several other similar alleged incidents, according to sources familiar with the situation. “Boris is a Trump original—loyal and effective from the very beginning,” a Trump transition official told CNN.

Persons: Donald Trump, Boris Epshteyn, Trump, Epshteyn, “, ” Epshteyn, ”, elect’s, Boris, ” Trump, Steven Cheung, Scott Bessent, Bessent, Jonathan Drake, Susie Wiles, you’re, ’, “ He’s, “ Boris, President Trump, Matt Gaetz, Donald Trump's, Nathan Howard, Matt Gaetz’s, Gaetz, Elon Musk, Brandon Bell Organizations: CNN, Trump, Trump Make, Mar, Reuters, White, Gaetz, Department of Justice, Florida Rep, SpaceX, Georgetown Advisory Locations: Lago, Palm Beach , Florida, Epshteyn, Asheville , North Carolina, Washington, Washington ,, Florida, Brownsville , Texas, Georgetown, New York, Georgia, Arizona

☆ Matt Gaetz is now hinting that he plans to run to succeed Ron DeSantis as Florida's governor
▼ + stars: | 2024-11-25 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

AdvertisementMatt Gaetz withdrew from his attorney general bid on Thursday. But he's since hinted on X at a possible 2026 Florida governor run. Former Rep. Matt Gaetz's bid for attorney general may have been short-lived, but he appears to have his sights set on another big career move. In a Saturday tweet, Florida State Rep. Anthony Sabatini posted on X his prediction that Gaetz would be the next governor of Florida. After Gaetz withdrew, Trump wrote on Truth Social that he appreciated Gaetz's "efforts."

Persons: Matt Gaetz, Ron DeSantis, Matt Gaetz's, Anthony Sabatini, Gaetz, Sabatini, Donald Trump, Vance, Trump, Matt, DeSantis, Jeb Bush, I'm, Charlie Kirk, Ginger, George Santos Organizations: Gov, Florida State, DOJ, Gaetz, CNN, Trump, Administration, Elon, Trump ., 119th, Business Locations: Florida, Florida's

Bombas' early Black Friday deals start now and the brand is offering 20% off sitewide through Thanksgiving. If you need one more reason to stock up during Bombas' Black Friday deals, consider that for every pair of socks and underwear purchased, Bombas will donate a pair to the homeless community. Top Black Friday Bombas deals Our favorite ankle socks for women, the Tri-Block Ankle Socks, are 20% offThe thick and scrunchy Chunky Ragg Half Calf Socks are 20% offGet high-quality workout underwear like the No Show Hipster for 20% offThe warm and cozy Gripper Slipper is 20% offThe best Black Friday Bombas deals for womenBombas Tri-Block Ankle Socks $10.40 $13.00 Save 20% These ankle socks are great if you wear sneakers everyday. View at BombasBombas Women's Gripper Slipper $38.40 $48.00 Save 20% The Bombas Gripper Slipper feels like wearing something halfway between a slipper and a sock, and the new redesign features double the cushioning. You can shop Bombas' early Black Friday sale between Saturday, Nov. 23 and Thursday, Nov. 28.

Persons: Bombas, Women's, ”, Kaplan, Mary Janes, Gabrielle Chase, Bombas Men's Organizations: Business, Bombas

☆ Jannik Sinner caps dream year by leading Italy to second straight Davis Cup title
▼ + stars: | 2024-11-25 | by ( Matias Grez | ) edition.cnn.com time to read: +2 min

1 capped his extraordinary season by helping Italy win the Davis Cup for the second straight year, defeating Tallon Griekspoor 7-6(2), 6-2 to secure a 2-0 win over the Netherlands in the final. Italy is also the first nation to retain the Davis Cup since the Czech Republic in 2013. “We are very happy to be back here holding this trophy – it feels like we are in Italy,” Sinner said, per the BBC. “Of course, it’s in the head a little bit,” Sinner added of the case. Italy is only the third nation in the last 30 years to complete the Davis Cup and Billie Jean Cup – formerly Fed Cup – double, per Opta.

Persons: CNN —, Tallon Griekspoor, Matteo Berrettini, Botic van, Sinner, ” Sinner, Manu Fernandez, ”, Billie Jean King, Billie Jean, – Organizations: CNN, Davis, ATP, Tennis Integrity Agency, Doping Agency, Sport, Billie Jean King Cup, Slovakia Locations: Italy, Netherlands, Málaga, Spain, Czech Republic

☆ At TikTok's LA creator summit, the company pushed long-form video and ignored the looming ban threat
▼ + stars: | 2024-11-25 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +4 min

AdvertisementTikTok hosted a Los Angeles creator summit focused on long-form content and monetization. The event emphasized high-quality content but notably left out the looming US ban. The company's creator summit in Los Angeles focused on horizontal long-form video, platform monetization, and the power of fandoms. Amanda Perelli/Business InsiderTips TikTok shared with creatorsIn a keynote presentation, Samuels said TikTok was looking for creators who could master storytelling. AdvertisementHigher-quality content also performs better on TikTok's horizontal video tool, TikTok said at the event.

Persons: TikTok, TikTok execs, —, I'm, Kim Farrell, TikTok's, Farrell, Melissa Tecson, Norissa Samuels, Tecson, Linqia, Amanda Perelli, Samuels Organizations: YouTube Locations: Angeles, Los Angeles, North America

☆ The quick burst of buying was not because of Trump's win, but Harris' loss, says Jim Cramer
▼ + stars: | 2024-11-25 | by ( Jim Cramer | ) 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 quick burst of buying was not because of Trump's win, but Harris' loss, says Jim Cramer'Mad Money' host Jim Cramer looks at how the market responded to news of president-elect Trump's Treasury pick.

Persons: Harris, Jim Cramer Organizations: Trump's Treasury

☆ Zoom surpasses expectations as it calls for another quarter of single-digit growth
▼ + stars: | 2024-11-25 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Eric Yuan, founder and CEO of Zoom Video Communications, speaks at Concordia Annual Summit in New York on Sept. 25, 2024. The company reported 192,400 enterprise customers in the quarter, up 800 from the previous quarter. In August, Zoom said it was looking for $5.29 to $5.32 per share and revenue between $4.630 billion and $4.640 billion. During the quarter, Zoom said in the first half of 2025 it will release a premium Custom AI Companion that could connect to corporate glossaries and services such as ServiceNow and Workday . The company also said its corporate name is changing from Zoom Video Communications to Zoom Communications Inc.Executives will discuss the results with analysts on a conference call starting at 5 p.m.

Persons: Eric Yuan, Covid, LSEG, Zoom, Chris Grisanti Organizations: Zoom Video Communications, Concordia, Zoom Communications Inc Locations: New York

☆ CLSA strategist says he expects Bank of Japan to hike rates in December and twice more in 2025
▼ + stars: | 2024-11-25 | 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 EmailCLSA strategist says he expects Bank of Japan to hike rates in December and twice more in 2025Nicholas Smith, Japan strategist at CLSA, says Bank of Japan rate hikes would benefit households, corporates and the finance sector.

Persons: Nicholas Smith Organizations: Bank of Japan, Bank, Japan Locations: Japan

☆ The 7 most in-demand work-from-anywhere jobs companies are hiring for—some pay over $100,000
▼ + stars: | 2024-11-25 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

FlexJobs has identified the most in-demand work-from-anywhere jobs companies are hiring for by analyzing its database to find the highest volume of postings between June and November 2024. Such jobs are competitive: They account for only about 5% of all remote roles, FlexJobs reports. Some of the top companies hiring for work-from-anywhere jobs in the past six months on the platform include Duolingo, Invisible Technologies and the Wikimedia Foundation. Marketing, writing, project management and tech continue to be the fields with the most work-from-anywhere jobs. "For work-from-anywhere roles, employers are increasingly interested in workers who demonstrate advanced abilities, such as higher-level communication skills like negotiation, resourcefulness and problem-solving," Frana says.

Persons: FlexJobs, Toni Frana, Frana Organizations: Employers, CNBC, Technologies, Wikimedia Foundation, Marketing, Communications

☆ At least 1 person is dead after a DHL cargo plane crashed into a house
▼ + stars: | 2024-11-25 | by ( Aditi Bharade | Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +3 min

AdvertisementA DHL cargo plane crashed into a house near Lithuania's Vilnius airport. A DHL cargo plane crashed into a house near Lithuania's Vilnius airport, killing at least one person and injuring three others. The plane, a Boeing 737 aircraft en route from Germany, crashed outside Vilnius International Airport at around 5:30 a.m. local time, the airport said on Facebook. All 12 residents of the house that was crashed into are safe and have been evacuated, Reuters reported, citing information from a police press conference. "Residential infrastructure around the house was on fire, and the house was slightly damaged, but we managed to evacuate people," he added.

Persons: Valdas Benkunskas, Benkunskas, Benkuskas, Arūnas Paulauskas, Paulauskas Organizations: DHL, Boeing, Facebook, Swift Air, LEJ Airport, VNO, Associated Press, Reuters, AP, CNN Locations: Lithuania's Vilnius, Leipzig, Germany, Vilnius, Nepal, Lithuania, VNO

☆ 'Hamilton' star Anthony Ramos lived in New York City on $420 a week when the show first started: 'I was struggling'
▼ + stars: | 2024-11-25 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

It's an obstacle Grammy-winning actor, singer and songwriter Anthony Ramos faced during his time in the cast of the hit Broadway musical "Hamilton." Ramos was one of the show's original cast members, playing the dual roles of John Laurens and Phillip Hamilton. "Getting that first paycheck was great because I was getting paid to do something again, to do something I loved, but I was still struggling in New York," Ramos said. However, Ramos soon realized how expenses like taxes and manager and agent fees could quickly chip away at his earnings. "If you're an ensemble member, you're probably making $1,800 a week and then you get taxed on that," he said.

Persons: Anthony Ramos, Hamilton, Ramos, John Laurens, Phillip Hamilton, Vivian Tu, SoFi's Richer Organizations: Broadway Locations: New York

☆ Here's what to expect from the Department of Government Efficiency, or DOGE
▼ + stars: | 2024-11-25 | 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 EmailHere's what to expect from the Department of Government Efficiency, or DOGEJason Furman, former Council of Economic Advisers chairman under Obama, and Doug Holtz Eakin, former Congressional Budget Office director, join 'Squawk Box' to discuss what government efficiencies can get done through executive actions, if DOGE can reach its goals, and much more.

Persons: Jason Furman, Obama, Doug Holtz Eakin Organizations: Department of Government, of Economic, Budget

☆ Intel and Commerce Department close to finalizing roughly $8 billion CHIPS Act grant, source says
▼ + stars: | 2024-11-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Chipmaker Intel and the CHIPS Act Office are close to finalizing a deal which would award the company a roughly $8 billion grant, according to a person familiar with the matter, as the Biden administration moves to dole out funds before President-elect Donald Trump's inauguration. The U.S. awarded Taiwan Semiconductor Manufacturing Co. a $6.6 billion grant earlier this month, raising investor expectations that cash funding for Intel would come soon. Intel has benefited from CHIPS Act tax breaks but has not yet received cash awards, something which Intel CEO Pat Gelsinger has expressed dissatisfaction with. "We're frustrated that hasn't moved faster," Gelsinger told CNBC in October, referring to the CHIPS Act grants. U.S. House Speaker Mike Johnson had previously said he might look to repeal the bipartisan CHIPS Act, but he then walked back those comments.

Persons: Biden, Donald Trump's, Intel's, Pat Gelsinger, hasn't, Gelsinger, They've, Mike Johnson, acquirers Organizations: Intel, Commerce Department, Department of Defense, Street Journal, The New York Times, U.S, Taiwan Semiconductor Manufacturing, CNBC, Qualcomm Locations: Intel's

☆ Wall Street launches new ways to bet on bitcoin
▼ + stars: | 2024-11-25 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

As solana reported hack, after hack, bitcoin didn't really change. Wall Street is also decking the coin with all its familiar trappings like exchange-traded fund wrappers and allowing traders to hedge positions and make leveraged bets. In January, spot bitcoin ETFs began trading, which opened the door to more mainstream investors. Last week, options on those spot crypto products finally started to go live on the Nasdaq and New York Stock Exchange. CBOE Global Markets is also set to list its first cash-settled bitcoin ETF options on Dec. 2.

Persons: bitcoin, solana Organizations: Traders, Nasdaq, New York Stock Exchange, CBOE

☆ I tried making Ina Garten's pumpkin, apple, and pecan pies. I'll never use anyone else's crust recipe again.
▼ + stars: | 2024-11-25 | by ( Paige Bennett | ) www.businessinsider.com time to read: 1 min

AdvertisementI followed Ina Garten's recipes for pumpkin, apple, and pecan pie to see which I liked best. The pecan pie tasted like a cocktail, and the apple pie was shockingly simple to throw together. I ended up with extra pumpkin-pie filling, but Garten's buttery crust was the real winner. I sometimes struggle to create a buttery, flaky crust, and my fillings don't always have the right texture. Here's how my day of baking went as I attempted to make Garten's pecan, pumpkin, and apple pies.

Persons: Ina Garten's, I'm, Ina Garten

☆ Weprin: Wicked' is the fifth biggest weekend this year. Universal and Paramount are happy."
▼ + stars: | 2024-11-25 | 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 EmailWeprin: Wicked' is the fifth biggest weekend this year. Universal and Paramount are happy." Alex Weprin, Media & Business Writer at The Hollywood Reporter, discusses the success of "Wicked" and "Gladiator 2" at the box office. "Wicked" earned over $114 million, making it the fifth biggest weekend of the year, while "Gladiator 2" brought in $55 million.

Persons: Alex Weprin Organizations: Universal, Paramount, Media, Business, Hollywood

☆ Bernstein hikes its price target on this bitcoin proxy stock, sees more than 40% upside
▼ + stars: | 2024-11-25 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

MicroStrategy's position in the bitcoin market may mean more upside for the stock in the months ahead, according to Bernstein. Analyst Gautam Chhugani, who has an outperform rating on the stock, more than doubled his price targetto $600 from $290. "MSTR's debt is long term, unsecured convertible, implying negligible risk to balance sheet liquidity from Bitcoin volatility." MicroStrategy has been building a sizeable Bitcoin position for a long time, making the stock a proxy for the cryptocurrency. "MicroStrategy's (MSTR) Bitcoin treasury model is unprecedented on Wall Street, in our view," he continued.

Persons: Bernstein, Gautam Chhugani, bitcoin, Bitcoin, MicroStrategy, Chhugani, Chhugani's Locations: Bitcoin

Kristin Lin andMargaux Laskey, an associate editor at New York Times Cooking, has a surprising confession: She doesn’t like Thanksgiving dinner. After days of effort, she finds the final product bland and boring. “I love gratitude and thankfulness, but I’m grateful I don’t have to eat turkey if I don’t want to,” she says. In this episode, she shares ways to celebrate Thanksgiving — no cooking required. (A full transcript of this audio essay will be available within 24 hours of publication in the audio player above.)

Persons: Kristin Lin, Margaux, ” Organizations: New York Times

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