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U.S. President-elect Donald Trump has pledged to block Japanese company Nippon Steel's planned purchase of U.S. Steel. Nippon Steel, the fourth largest global steelmaker, reached an agreement to acquire U.S. Steel last December. U.S. Steel has an annual production capacity of around 20 million metric tons, while Nippon Steel is the leading steel producer in Japan. Nippon Steel and U.S. Steel did not immediately respond to CNBC's requests for comment on Trump's latest remarks. A spokesperson for Nippon Steel previously said the acquisition would revitalize the American Rust Belt and enhance U.S. national security "in a way no alternative can."
Persons: Donald Trump, Trump, Joe Biden, Takahiro Mori, David Burritt Organizations: Nippon, U.S . Steel, Nippon Steel of, U.S, Steel, Nippon Steel, United Steelworkers, Foreign Investment, Nippon Steel's, Trump, . Steel Locations: Nippon Steel of Japan, American, Japan, LSEG
South Korea's president, Yoon Suk Yeol, on Tuesday invoked martial law, a stunning move that threw the nation into turmoil. The last time that a South Korean leader declared martial law was in 1979 following the assassination of the president. South Korea's parliament voted unanimously to block the president's decree, declaring the shocking move invalid, but martial law remains in effect. The semi-official South Korean news agency also said that media and publishers fall under the control of the South Korean military. Hours after Yoon declared martial law, live TV showed South Korea's parliament passing a motion requiring the law to be lifted.
Persons: Yoon Suk Yeol, Yoon, Yoon Suk, Kim Jong, Yoon didn't, South Korea Philip Goldberg, Yoon's, Biden, Han Dong, Lee Jae, Yonhap Organizations: South, People Power Party, Democratic Party of Korea, National Assembly, Associated Press, South Korean, State Department, Power Party, Korean, US National Security, KB Financial Group, POSCO Holdings, Wall Street Locations: Korean, South Korea, Korea's, North Korea, Korea, South
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicrosoft accuses FTC of leaking news of its antitrust investigationCNBC's Steve Kovach reports on the latest development in Microsoft's antitrust investigation.
Persons: Steve Kovach Organizations: Microsoft
CNN —The Biden administration is rushing assistance to Ukraine in an effort to put Kyiv “in the strongest possible position” as Russia steps up its attacks and President Joe Biden prepares to leave office in less than two months. The new tranche of military assistance includes Stinger missiles, ammunition for High Mobility Artillery Rocket Systems (HIMARS) and anti-personnel landmines. Still, two US officials and three defense officials told CNN last week that the Pentagon is unlikely to use all of the billions of dollars authorized by Congress to arm Ukraine before Biden leaves office. The administration has fewer than two months left to use nearly $7 billion, part of a larger package authorized by Congress earlier this year to help Ukraine in the war with Russia. For months, the US has run into the limits of its ability to replenish its own weapons inventories, which limited what the Biden administration has been able to send Ukraine.
Persons: CNN —, Biden, , Joe Biden, Jake Sullivan, ” Sullivan, Antony Blinken, Blinken, Vladimir Putin, , Mark Rutte, Putin, ” “ Putin, ” Rutte, CNN’s Duarte Mendonça, Natasha Bertrand, Oren Liebermann, Katie Bo Lillis, Alex Marquardt Organizations: CNN, Kyiv “, , Department of Defense, High Mobility Artillery Rocket Systems, NATO, Congress, Defense Department, State Department Locations: Ukraine, Russia, , Brussels
AdvertisementAWS announced plans for an AI supercomputer, UltraCluster, with Trainium 2 chips at re:Invent. Moreover, it's also building an AI supercomputer, an UltraCluster made up of UltraServers, in partnership with AI startup Anthropic. AWS' Trainium chips could compete with Nvidia. With "hundreds of thousands" of Trainium chips, it would challenge Elon Musk's xAI's Colossus — a supercomputer with 100,000 of Nvidia's Hopper chips. Garman said that Apple is one of its customers using AWS chips, like Amazon Graviton and Inferentia, for services including Siri.
Persons: Apple, Matt Garman, Garman, it's, there's, , Elon Musk's, Rainier, Hopper, Siri, Benoit Dupin, Dupin Organizations: Nvidia, Apple Intelligence, Amazon Web Services, Apple, JPMorgan, Graphics, Amazon, Wall Street, Google, Microsoft, The, Las, AWS, Amazon Nova Locations: UltraServers
When Purple's partner first told her about the FIRE movement — which stands for Financial Independence, Retire Early — in 2013, she wasn't convinced. Why would I want to retire early?'" But in October 2020, Purple retired at just 30 years old with $540,000 in savings, according to documents reviewed by CNBC Make It. Here are the three major moves Purple made to be able to retire early. Purple early retireeTravel, for example, has always been a priority for her and she will fly first-class without a second thought.
Persons: wasn't, Purple, , doesn't, didn't, Seattle , Purple Organizations: Financial Independence, CNBC, FIRE Locations: New York City, New York, Seattle, Manhattan, Seattle ,
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYounger generations are spending more of their discretionary income on travel: Hopper's Hayley BergHayley Berg, Hopper lead economist, joins 'Squawk Box' to discuss the origins of 'Travel Tuesday', state of the consumer, travel demand outlook, and more.
Persons: Hayley Berg Hayley Berg, Hopper
A television screen shows a news broadcasting of South Korean President Yoon Suk Yeol delivering a speech on emergency martial law, in Goyang, northwest of Seoul, on December 3, 2024. South Korea's won on Tuesday fell sharply against the U.S. dollar shortly after President Yoon Suk Yeol declared an emergency marital law. The U.S. dollar traded up as much as 2.7% against the won, before paring gains. Speaking during an unannounced televised briefing, South Korea's Yoon accused opposition lawmakers of controlling the parliament and throwing the country into a political crisis. Martial law refers to the temporary imposition of military authority over a civilian population, typically during a time of emergency.
Persons: Yoon Suk, South Korea's, Yoon Suk Yeol, Korea's Yoon, Yoon, hasn't Organizations: South, U.S, U.S . Locations: Goyang, Seoul, Republic of Korea, Korean, Asia's
Cannon shares 4 common pitfalls for beginner crypto investors to avoid. Here are a few of the most common pitfalls for beginner crypto investors and how to avoid them, according to Cannon. Not thinking about cryptocurrency tax implicationsSimilar to stocks, you'll need to pay capital gains taxes on crypto transactions. If you purchase crypto on a crypto exchange, you'll typically be issued a cryptocurrency Form 1099 to fill out. However, President-elect Trump also suggested eliminating capital gains taxes on crypto.
Persons: Robert Cannon, Cannon, El, Donald Trump Bitcoin, , cryptocurrency, Charles Schwab, Trump Organizations: Fidelity, Bitcoin, Franklin Bitcoin Locations: El Salvador, bitcoin
AdvertisementPresident-elect Donald Trump's latest tariff threat is 100% on goods from a group of nine countries known as BRICS. Business Insider looked at the top goods the US imports from BRICS nations, including medicine, apparel, and electronics. Census Bureau trade data showed that in 2023, the BRICS nations together accounted for about $578 billion in imports to the US. India accounted for much of the imports when looking at the BRICS nations, excluding China. Luiz Inácio Lula da Silva, Brazil's president, proposed creating a common currency among the BRICS nations last year, which could help avoid US sanctions.
Persons: Donald Trump's, Trump, Luiz Inácio Lula da Silva, Dmitry Peskov, GOP Sen, Bill Hagerty, Hagerty Organizations: United, United Arab Emirates, U.S, International Trade, Business, China, Trump, Walmart, Columbia, GOP, NBC Locations: BRICS, Brazil, Russia, India, China, South Africa, Ethiopia, Egypt, Iran, United Arab, America, Mexico, Canada
President Yoon Suk Yeol of South Korea declared emergency martial law on Tuesday night, accusing the opposition of plotting “insurgency” and “trying to overthrow the free democracy.”It was the first martial law declaration in more than four decades in South Korea, which saw the end of a military dictatorship in the late 1980s. Mr. Yoon, who was elected president in 2022, has been in a near-constant political standoff with the opposition, which controls Parliament, and his government has faced plunging public approval ratings. In his speech declaring martial law late Tuesday, Mr. Yoon said he was making the move to “defend the free Republic of Korea from the threats of North Korean communist forces and to eradicate the shameless pro-North Korean anti-state forces that are plundering the freedom and happiness of our people and to protect the free constitutional order. Through this emergency martial law, I will rebuild and defend the free Republic of Korea, which is falling into ruin.”
Persons: Yoon Suk, Yoon, Locations: South Korea, Republic of Korea, North Korean, Korean
Now, the luxury British carmaker has filled in some of the blanks regarding its new identity by revealing a concept car at Miami Art Week. A front view of Jaguar's concept car. A side-view of Jaguar's concept car. JaguarThree brass lines run through the length of the concept car, with one right down the middle. JaguarAn interior view of Jaguar's concept car.
Persons: Constantino Segui Gilabert, Tom Holden, flack, Elon Musk, Jaguar's, Rawdon Glover, , he's, Sir William Lyons, India's Tata, Glover Organizations: Miami Art, Jaguars, EV, Financial Times, SS, SS Cars Limited, Getty, India's, India's Tata Motors, Rover
The automaker has thrown down a gauntlet for Tesla, which faces a battle to beat 2023's record sales. Tesla and its Chinese rival are locked in a battle to become the world's largest EV company. BYD has surpassed its annual sales target a month ahead of schedule, throwing down a gauntlet for Tesla as Elon Musk's company scrambles to meet its own annual goal. The Chinese EV giant delivered 504,000 passenger vehicles in November, according to figures released on Sunday. BYD has now sold over 3.7 million cars this year, meaning it has smashed its annual target of 3.6 million sales with a month to go.
Persons: BYD, Tesla, scrambles, Elon Musk Organizations: Tesla, EV, , Elon, BYD Locations: China
CNN —NASA engineers have successfully restored contact with Voyager 1 and the spacecraft is operating normally after its dwindling power supply caused a weekslong blackout. out of them.”The mission team began turning off any systems that weren’t crucial for flying the probes about five years ago. Some of those systems included heaters that were designed to keep the science instruments operating at the correct temperature. Keeping the Voyager probes onlineThe Voyager team has computer models to help them predict how much power the spacecraft’s heaters and instruments are expected to use. “The bigger issue is how long can we keep the science instruments going with the current power available.”
Persons: , Kareem Badaruddin, ” Badaruddin, , Bruce Waggoner, hadn’t, Badaruddin Organizations: CNN, NASA, Jet Propulsion Laboratory, Space Locations: Pasadena , California
Watch Tuesday's full episode of Fast Money — December 3, 2024
  + stars: | 2024-12-03 | 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 Tuesday's full episode of Fast Money — December 3, 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
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Club stock BlackRock is adding private credit to its menu of services, agreeing to buy HPS Investment Partners for $12 billion in stock. 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. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Larry Fink, He's, Jim, Fink, It's, Agentforce, Stocks, Jim Cramer's Organizations: CNBC, Nasdaq, Treasury, Club, BlackRock, HPS Investment Partners, CVS Health, FedEx, U.S . Steel
Asia-Pacific markets are set to open higher on Tuesday, tracking gains on Wall Street after the S&P 500 and the Nasdaq Composite rose to new records. Hong Kong's Hang Seng index futures were at 19,628, higher than the HSI's last close of 19,550.29. Overnight in the U.S., the S&P 500 added 0.24% to close at 6,047.15. The blue-chip index briefly topped the 45,000 level during the day, a key threshold it hit a few times last week. Fed funds futures are currently pricing in a 76% probability that the central bank lowers interest rates during its policy gathering, according to CME's FedWatch Tool.
Persons: Ed JONES, ED JONES, CME's, , Alex Harring, Lisa Kailai Han Organizations: Getty, Nikkei, Nasdaq, Traders, Federal Reserve, Reuters, Dow Jones Industrial Locations: Seoul, AFP, Chicago, Osaka, Asia, Pacific, U.S
President Biden has put a special emphasis on South Korea, choosing it as the first non-U.S. site for his annual international conclave, the Summit for Democracy. And in 2023, he hosted President Yoon Suk Yeol for a state dinner at the White House, where the tuxedo-clad Mr. Yoon sang “American Pie” to an adoring audience. Mr. Biden has also relied on Mr. Yoon to provide munitions for Ukraine’s defense against the Russian invasion. Now, with Mr. Yoon imposing martial law after wildly accusing the opposition party of conspiring with North Korea to undermine him, the American alliance with South Korea faces its biggest test in decades. We are seriously concerned by the developments we are seeing on the ground in the R.O.K.”
Persons: Asia —, Biden, Yoon Suk, Yoon, , Mr, Yoon’s Organizations: Summit for Democracy, White, White House National Security Council Locations: South Korea, U.S, Asia, Russian, North Korea, China, Russia, Washington, Republic of Korea
US consumers spent a total of $13.3 billion on Cyber Monday, up 7.3% from the previous year, according to Adobe Analytics. “While Cyber Monday remained the season’s and year’s biggest online shopping day, year-over-year growth was stronger on both Thanksgiving and Black Friday,” Vivek Pandya, lead analyst at Adobe Digital Insights, said in a statement. Online spending on Thanksgiving Day and Black Friday were up 8.8% and 10.2% year-over-year, respectively, according to Adobe. The record sales on Cyber Monday were boosted by US consumers shopping on their mobile devices, which accounted for $7.6 billion in spending. Salesforce painted a slightly different picture for US Cyber Monday, recording $12.8 billion in sales, up 2% from the previous year.
Persons: ” Vivek Pandya, Pandya, Harry Potter, Donald Trump, , Corie Barry, Rufus, Salesforce, CNN’s Elisabeth Buchwald Organizations: CNN, Adobe Analytics, Adobe, Adobe Digital, Shoppers, Nintendo, Consumer Technology Association, Global Locations: Mexico, Canada, China, Salesforce
The Biden administration on Tuesday moved to end a program that had for decades allowed companies to pay workers with disabilities less than the minimum wage. The statute, enacted as part of the Fair Labor Standards Act of 1938, has let employers obtain Labor Department certificates authorizing them to pay workers with disabilities less than the federal minimum wage, currently $7.25. The department began a “comprehensive review” of the program last year, and on Tuesday it proposed a rule that would bar new certificates and phase out current certificates over three years. “This proposal would help ensure that workers with disabilities have access to equal employment opportunities, while reinforcing our fundamental belief that all workers deserve fair competition for their contribution,” Taryn Williams, assistant secretary of labor for disability employment policy, said on a call with reporters. As of May, about 800 employers held certificates allowing them to pay workers less than minimum wage, affecting roughly 40,000 workers, said Kristin Garcia, deputy administrator of the Labor Department’s wage and hour division.
Persons: Biden, ” Taryn Williams, Kristin Garcia Organizations: Fair Labor, Labor
Revenue of $9.44 billion topped consensus forecasts calling for $9.35 billion, according to LSEG. Meanwhile, adjusted earnings of $2.41 per share slightly missed estimates for $2.44 per share. Okta sees revenue for the period ranging between $667 million and $669 million, while analysts polled by LSEG sought $651 million. Box anticipates adjusted earnings of 41 cents per share on revenue of $279 million, which is in line with what analysts sought, per LSEG. Adjusted earnings of 89 cents a share topped estimates for 87 cents per share, however.
Persons: Okta, LSEG, Campbell's, Mark Clouse Organizations: Marvell Technology
Cramer's charting out where some of the biggest retail names are headed'Mad Money' host Jim Cramer looks at the technical read on the retail sector after a big holiday sales weekend.
Persons: Jim Cramer
AdvertisementPutin has signed off on a record defense budget for 2025 amid the ongoing Ukraine war. Defense spending will rise to 13.5 trillion rubles, making up a third of the country's budget. Russian President Vladimir Putin has signed off a federal budget that will boost defense spending to a record level next year. However, Russia's economy is under pressure, with wartime activities driving the economy so hot that inflation has spiked. Russia's economy ministry forecasts that the country's economy will grow by 3.9% this year and 2.5% next year.
Persons: Vladimir Putin, Putin, Russia's, Andrei Kostin, VTB —, , Kostin Organizations: Putin, Defense, Russian, Russia, Institute for, Reuters, Monetary, IMF Locations: Ukraine, Russian, Russia, Russia's
CNN —There’ll be a strong sense of déjà vu when French President Emmanuel Macron lays the flattery on thick for Donald Trump in Paris this weekend. The president seeks to highlight US commitment to sub-Saharan Africa in the face of China’s investment-led regional power play. Trump never made it to Africa as president and seemed more interested in insulting the continent than helping it. From left to right, Brigitte Macron, President-elect Donald Trump, Melania Trump and French President Emmanuel Macron at Le Jules Verne Restaurant at the Eiffel Tower, on July 13, 2017. Trump will arrive in Paris shortly after selecting Charles Kushner, the father-in-law of his daughter Ivanka as the next US ambassador to France.
Persons: CNN —, Emmanuel Macron, Donald Trump, Trump, Macron, Trump isn’t, — he’s, Justin Trudeau, Trump’s, Joe Biden’s, Hunter, , Virginia Democratic Sen, Tim Kaine, CNN’s Manu Raju, Utah Republican Sen, Mitt Romney, Biden, Biden’s, ” Trump, It’s, Ludovic Marin, Angela Merkel, Barack Obama, Vladimir Putin, There’s, don’t, Olaf Scholz, Keir Starmer, Michel Barnier, Marine Le, Jules Verne, , “ Emmanuel, Brigitte Macron, Melania Trump, Le Jules Verne Restaurant, Saul Loeb, , Macron’s, Macron —, Viktor Orbán, he’s, Charles Kushner, Ivanka, Kushner, Ivanka Trump, Jared Kushner Organizations: CNN, Notre Dame Cathedral, Trump, Canadian, Hamas, Virginia Democratic, Utah Republican, City, , Notre Dame, Getty, European Union, New British, Labour Party, EU, Party, Michelin, Eiffel, White, Trump — Locations: Paris, Canada, Mexico, Florida, Gaza, Virginia, Utah, Angola, Saharan Africa, Africa, Buenos Aires, AFP, France, Washington, Ukraine, Russian, Russia, Germany, Britain, Europe, Hungarian, New Hampshire, Manhattan
As a longtime champion of the company's chip manufacturing efforts, he was reluctant to split it. Amid the broader CEO search, Intel also elevated executive Michelle Johnston Holthaus to CEO of Intel Products and the company's co-CEO. Intel has also outsourced some chip manufacturing to rival TSMC in recent years — which sends a negative signal to the market about its own fabs. AdvertisementIntel is getting CHIPS Act fundingOwnership of the fabs and CHIPS Act funding are highly intertwined. Still, the CHIPS Act remains key to Intel's future.
Persons: Intel's, they're, Pat Gelsinger, Michelle Johnston Holthaus, Analysts, Bernstein, TSMC, Dan Newman, Logan Purk, Edward Jones, Newman Organizations: US, Intel, Bloomberg, Intel Products, Nvidia, AMD, Foundry, Analysts
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