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☆ Biden to spotlight voting rights, Black voters in 'Bloody Sunday' Selma visit
▼ + stars: | 2023-03-05 | by ( Jeff Mason | ) www.reuters.com time to read: +2 min

It also is happening with Biden's efforts to pass voting rights legislation stalled in Congress. The president will speak at the Edmund Pettus Bridge, where state troopers clubbed and used tear gas against the 1965 voting rights marchers, including John Lewis, a Black civil rights activist who went on to become a U.S. congressman. Coverage of the brutality shocked the nation and helped spark the 1965 Voting Rights Act. "President Biden will talk about the importance of commemorating Bloody Sunday so that history cannot be erased," White House spokesperson Karine Jean-Pierre told reporters on Friday. "He will highlight how the continued fight for voting rights is ... integral to delivering economic justice and civil rights for Black Americans."

☆ China's economy, government revamp in focus as parliament set to open
▼ + stars: | 2023-03-04 | by ( Tony Munroe | ) www.reuters.com time to read: +3 min

REUTERS/Thomas PeterBEIJING, March 5 (Reuters) - China opens its annual parliamentary session on Sunday, with the National People's Congress (NPC) set to implement the biggest government shakeup in a decade as Beijing confronts a host of challenges and looks to revive its COVID-battered economy. During the NPC, former Shanghai party chief Li Qiang, a longtime Xi ally, is expected to be confirmed as premier. "We might see institutional changes that indicate an elevated importance of, and more party control over, the financial regulatory system," Goldman Sachs analysts wrote. On the opening day of the NPC, China is also likely to announce its central and military spending budgets. Reporting by Tony Munroe; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ Bridgewater's new executive team is already making big changes. But was it all part of Ray Dalio's master plan?
▼ + stars: | 2023-03-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

On tap, we've got stories on the top VCs in Texas, more headaches for Blackstone's BREIT, and why boomers stink. Maybe it's just the fear of facing your own mortality and realizing that life, in fact, will go on without you. As Rebecca Ungarino reports, the world's largest hedge fund is making a slew of new changes less than six months after billionaire founder Ray Dalio stepped aside. Bridgewater, which was founded in 1975 from Dalio's two-bedroom apartment, is arguably just as well known for its culture as its size. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Hallam Bullock (tweet @hallam_bullock) and Nathan Rennolds (tweet @ncrennolds) in London.

☆ Job cuts, a sole CEO, and AI bets: How Bridgewater is shaking itself up after the Ray Dalio era
▼ + stars: | 2023-03-01 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +8 min

The firm's CEO, Nir Bar Dea, said in a memo that it would lay off employees and restructure. Bar Dea had been a rising star at Bridgewater, which has transitioned leadership in recent years. Former co-CEO Mark Bertolini is also stepping out of the role and returning to Bridgewater's board as an independent director, leaving Bar Dea as sole CEO. "Over time, we expect this platform to produce the next round of growth in the business," Bar Dea wrote. 'Finding a home'As far as high finance executives go, Bar Dea has an unexpected background.

☆ Cramer sees a 'good chance' Salesforce's Benioff will soon announce succession plans
▼ + stars: | 2023-02-25 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

Jim Cramer suggested Saturday that plans for a leadership change at Club holding Salesforce (CRM) — helmed by co-founder Marc Benioff for more than two decades — may be disclosed in the near future. CRM YTD mountain Salesforce (CRM) YTD performance In early January, Salesforce announced a cost-cutting plan that included layoffs and office space reductions — moves that Jim has said were pushed for by Starboard . While Benioff has said he's "never leaving" Salesforce , the company has twice elevated an executive to the role of co-CEO. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Marc Benioff, founder, chairman and CEO of enterprise cloud computing company Salesforce.

☆ Anger Mounts Over Ohio Train Derailment: ‘They Don’t Have the Answers’
▼ + stars: | 2023-02-17 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

What the Renault-Nissan Shakeup Says About the Global Auto Industry Renault CEO Luca de Meo and Nissan CEO Makoto Uchida spoke to The Wall Street Journal about the reorganization of their alliance in a deal that gives both companies more autonomy. WSJ’s Nick Kostov explains the factors behind the decision and what it means for auto makers and investors. Photo Composite: Adele Morgan

☆ Watch: Unseen Titanic Wreck Expedition Footage Released
▼ + stars: | 2023-02-17 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

☆ Buffalo Supermarket Shooter Rushed in Court During Sentencing
▼ + stars: | 2023-02-16 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

☆ Gucci, Balenciaga Struggle Amid Designer Shakeup and Ad Controversy
▼ + stars: | 2023-02-15 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

PARIS—A fall in sales at Gucci and consumer outrage over Balenciaga’s portrayal of children in its ads led to a slowdown in revenue at the brands’ owner. French luxury conglomerate Kering SA said its biggest brand, Gucci, booked a 14% drop in comparable sales over a three-month period ending in December in part due to pandemic restrictions that were in place in China during the quarter. Kering reported a 4% sales drop in its “other brands” segment, which includes Balenciaga, over the same period.

The decision, announced after financial markets closed, gives Biden a pair of trusted Washington insiders to steer economic policy as the risk of recession fades but inflation lingers. Big fights also loom with the Republican-controlled House of Representatives over raising the debt ceiling. The shakeup comes as the White House tries to tackle what officials view as a frustrating disconnect between relatively strong economic data and weak public sentiment. The White House has refused to discuss spending cuts without a debt ceiling vote first. Bernstein last week conceded that the White House's early description of inflation as "transitory" had missed the mark.

☆ Who is Jared Bernstein, new chief White House economist?
▼ + stars: | 2023-02-14 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

Americans remain unimpressed by Biden's economic performance, with prices of many basic goods and mortgage rates high. Bernstein, who played the double bass in jazz bands and worked as a social worker in New York City, has long been a voice for progressive economic policy. He served in the Labor Department under former President Bill Clinton and then as Biden's chief economist when he was vice president. At the Economic Policy Institute, a Washington think tank, he wrote and testified to Congress extensively on the shrinking U.S. middle class, a bedrock Biden theme. U.S. business groups worry that Bernstein's labor ties and anti-free trade stance could hamper efforts to bolster trade ties with other countries.

☆ What the Renault-Nissan Shakeup Says About the Global Auto Industry
▼ + stars: | 2023-02-13 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

What the Renault-Nissan Shakeup Says About the Global Auto Industry The alliance was plagued by rivalry and suspicion, rising when Carlos Ghosn was ousted as the companies' leaderBy Wall Street Journal Feb 13, 2023 10:57 am Renault CEO Luca de Meo and Nissan CEO Makoto Uchida spoke to The Wall Street Journal about the reorganization of their alliance in a deal that gives both companies more autonomy. WSJ’s Nick Kostov explains the factors behind the decision and what it means for auto makers and investors. Photo Composite: Adele Morgan

☆ Yet another activist targets Salesforce — further validation there's money to be made in the stock
▼ + stars: | 2023-02-09 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

A fifth activist investor has taken a stake in Club holding Salesforce (CRM), making loud and clear that well-respected hedge funds see a money-making opportunity in the enterprise software giant. With activist investing becoming more common since the Great Financial Crisis, Jiang said it's not unheard of for a single company to be targeted by multiple firms. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. 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.

☆ Oracle reorganized its AI and data initiatives amid a leadership shakeup, leaked internal memo shows
▼ + stars: | 2023-02-08 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +2 min

Oracle moved its AI and data unit under its cloud business amid a leadership shakeup. Oracle is moving its data and artificial intelligence unit under its cloud business and making its health initiatives a major focus, an internal email shows. The reorganization means Oracle is "consolidating all of the new data and AI initiatives back into OCI," according to an internal email. Don Johnson, the former Oracle Cloud Infrastructure boss once named by Ellison as a potential contender for co-CEO, recently left his latest role leading Oracle Health and Artificial Intelligence, Insider previously reported. After about six months, he returned to run engineering for Oracle Health after the company bought Cerner in 2022.

Zelenskiy says he needs to show that Ukraine was a safe steward of billions of dollars of Western military and other aid. Ukrainian aircraft have launched nine strikes on areas of concentration of Russian forces and two anti-aircraft positions, it said. Arakhamia had said the 37-year-old head of military intelligence, Kyrylo Budanov, would replace Reznikov, who would become minister of strategic industries. One obstacle to replacing Reznikov with Budanov, a fast-rising officer decorated for operations that remain secret, is a rule requiring the defence minister to be a civilian. Ukraine said on Monday evening that Russian forces had trained tank, mortar and artillery fire there in the past 24 hours.

A day after announcing that Defence Minister Oleksii Reznikov would be replaced, a top ally of President Volodymyr Zelenskiy appeared to row back for now, saying no personnel changes in the defence sector would be made this week. Two senior lawmakers on Monday noted that rules require Ukraine's defence minister to be a civilian, which would appear to put an obstacle in the way of the immediate appointment of Budanov, a 37-year-old military officer. 'WAR DICTATES CHANGES'Arakhamia said Ukraine's armed forces should not be overseen by politicians during wartime, but by people with a background in defence or security. As a wartime defence minister, Reznikov, 56, fostered ties with Western defence officials and helped oversee the receipt of billions of dollars of military aid to help Kyiv fend off the Russian invasion. During his tenure as defence minister, he spoke out strongly about wartime corruption, which he said was akin to "marauding".

Buying a Super Bowl can be a big risk because it's a big investment months ahead of the game. Diageo CEO Ivan Menezes said during the company's January earnings call that its brand Crown Royal will run its first Super Bowl ad this year. Anheuser-Busch's move is an indication that the sky-high price of running a Super Bowl ad is getting harder for companies to justify. Bookings typically happen in May, said one ad agency exec who's purchased many Super Bowl ads for clients, including this year. Super Bowl ad slots sold briskly for both Fox this year and NBC last year.

☆ Here’s our February rapid-fire update on all 34 stocks in Jim Cramer’s Investing Club portfolio
▼ + stars: | 2023-02-05 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +12 min

Here's a rapid-fire update on all 34 stocks in Jim Cramer's Charitable Trust, the holdings we manage in the CNBC Investing Club. J & J is a good stock to get into ahead of the impending split into two companies: consumer brands and pharma/medical technology. The company reported a good quarter and guidance, while fundamentals are solid ahead of the split. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ New Hampshire Governor Sununu 'definitely thinking' about White House run
▼ + stars: | 2023-02-05 | by ( Kanishka Singh | ) www.reuters.com time to read: +2 min

[1/2] New Hampshire Governor Chris Sununu speaks at the "Curbing the Opioid Epidemic" session at the National Governors Association summer meeting in Providence, Rhode Island, U.S., July 13, 2017. Sununu, who has served as governor of the small New England state since 2017, underscored the need for new leadership. His father John Sununu, himself a former New Hampshire governor, served as White House chief of staff under Republican President George H. W. Bush from 1989 to 1991. Describing his political philosophy, Chris Sununu told ABC: "I'm kind of that 'live free or die' individual liberty. And we've done it really, really well here in New Hampshire."

☆ Good-bye Iowa! Democrats approve Biden's revamped primary calendar
▼ + stars: | 2023-02-04 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +3 min

[1/4] Members of the Democratic National Committee listen to the Party chair of the Democratic Party Jaime Harrison speak during the Democratic National Committee winter meeting in Philadelphia, Pennsylvania, U.S., February 4, 2023. REUTERS/Hannah BeierPHILADELPHIA, Feb 4 (Reuters) - The Democratic National Committee on Saturday approved President Joe Biden's shakeup of the party's 2024 primary calendar, giving Black voters a greater say in the nominating process and carving an easier path for Biden's expected re-election bid. "The Democratic party looks like America, so does this proposal," said Jaime Harrison, chair of the Democratic National Committee. "We can vote on this calendar, we can approve this calendar, but we will leave here with absolutely nothing settled," said Scott Brennan, a former party chair in Iowa. Biden's primary calendar saw overwhelming approval through a voice vote and party committee members appeared enthusiastic for a Biden re-election when he addressed the crowd in Philadelphia on Friday.

☆ Democrats make South Carolina first presidential primary voting state
▼ + stars: | 2023-02-04 | by ( ) www.cnbc.com time to read: +4 min

South Carolina will now kick things off for Democrats, with Michigan — and potentially Georgia — joining the early states in the biggest shakeup of the presidential primary in years, while Nevada will go second. "The Democratic Party looks like America," Harrison added, "And so does this proposal." Iowa Democratic Party Chair Rita Hart said the removal of Iowa will expose the party to charges that they have "turned their back on Iowa and rural America." New Hampshire Democrats have asked for more time to try to come up with a solution, but most Democrats say the writing on the wall and expect there will be no solution to the impasse. "Y'all, for far too long, our party's nominating calendar has not reflected this country looks like," said Georgia Rep. Nikema Williams, who is also the chairwoman of the state Democratic Party.

☆ Billionaire Cohen builds stake in Nordstrom, urges board shakeup
▼ + stars: | 2023-02-03 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Cohen has privately called Tritton, a former chief executive of Bed Bath & Beyond, "conflicted and unqualified," said the people, who were not permitted to discuss the private negotiations. Bed Bath & Beyond is preparing to file for bankruptcy, Reuters reported this week. Investors cheered Cohen's reported involvement at Nordstrom by sending the stock price up 25% in after-hours trading on Thursday. The Wall Street Journal first reported Cohen's stake in Nordstrom. As possible replacements on the Nordstrom board, Cohen has identified executives with experience at retail and e-commerce companies, the people said.

☆ The largest hedge fund in the world just named a 37-year-old woman as a co-CIO. Meet the top 11 execs leading Bridgewater into its new era.
▼ + stars: | 2023-02-02 | by ( Alyson Velati | Michelle Abrego | ) www.businessinsider.com time to read: +12 min

Karen Karniol-Tambour will join co-CIOs Greg Jensen and Bob Prince to oversee the hedge fund's investment strategy. Despite a breakout year for many multi-strategy and macro hedge funds, Bridgewater lagged behind its peers. Nir Bar Dea, co-CEOBar Dea. Bridgewater AssociatesAs cochief investment officer, Jensen oversees Bridgewater's investment strategies and research efforts as well as its investment talent. Since joining Bridgewater in 1986, he has been a partner in building the hedge fund's investment process and products.

☆ Blackstone's real-estate business is totally fine, so please stop asking about it
▼ + stars: | 2023-02-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Blackstone's real-estate business is literally fine, everyone. Yes, the private-equity giant had to limit investors from pulling their money out from the $69 billion Blackstone Real Estate Income Trust (BREIT) in December. And yes, it's also true that Blackstone had to tell investors again on Wednesday that investors were pulling money from BREIT. Murphy, an executive at Standard Investments, serving as Blackstone's new COO of corporate private equity and Heather von Zuben's appointment as COO of Blackstone's credit arm. As much as I enjoy poking fun at Blackstone, Schwarzman and Gray aren't necessarily wrong, to a degree.

☆ As rivals surged in 2022, ExodusPoint shed assets and employees amid mixed performance. It reshuffled its business in November.
▼ + stars: | 2023-02-02 | by ( Alex Morrell | ) www.businessinsider.com time to read: +8 min

a hedge fund recruiter said, commenting on the calculus for hedge fund investors. At the end of 2021, the fund's exposure had been evenly split between fixed-income and equities, according to the investor documents. In all, more than 60 portfolio managers departed or were let go in 2022, according to the investor documents and people close to the matter. After the shakeup, ExodusPoint's income stream is now even more reliant on fixed-income trading — and that may not be such a bad thing. "The fixed income piece is doing incredibly well," another hedge fund recruiter said.

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