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The quant fund founded by the late Jim Simons cut its Tesla stake by 86% and halved its Nvidia wager. Renaissance Technologies cut its Tesla and Nvidia stakes and boosted its GameStop bet last quarter, it revealed in a portfolio update on Wednesday. RenTech, one of the biggest and best-performing hedge funds in history, pared its Tesla bet from about 2.1 million shares to 284,000 — an 86% reduction. The firm relies on algorithms to determine many of its trades, often resulting in sweeping changes to its stock portfolio each quarter. AdvertisementRenTech ramped up its GameStop bet by more than 40% to 1.9 million shares, worth $44 million at the quarter's close.
Persons: Jim Simons, RenTech, Elon, Tesla, Trump, codebreaker, Peter Thiel Organizations: Nvidia, GameStop, Technologies, Elon Musk's, Blackwell, Wall, MIT, Novo Nordisk Locations: Palantir, Novo, Danish
As an experienced chef and cooking instructor, I love this take on twice-baked potatoes. Here's my go-to recipe for twice-baked potatoes with mascarpone and chives. Alissa FitzgeraldRusset potatoes mash beautifully and retain a great shape when the insides are scooped out thanks to their thicker skin. Additionally, this recipe uses medium-sized potatoes since cutting these beauties in half isn't as visually appealing as stuffing them whole. Alissa FitzgeraldThe filling for these twice-baked potatoes has two notable tweaks from many classic recipes — there's no added milk, and it calls for mascarpone instead of sour cream.
Persons: , I've, uncle's, Alissa Fitzgerald, mascarpone, pepe Organizations: mascarpone, Service Locations: Gaziantep, Turkey
I have rheumatoid arthritis, which means my immune system attacks my joints. My condition means my immune system attacks my joints, which results in debilitating pain throughout my body if left untreated. To treat it, I have to suppress my immune system with medication, which I need just to physically get out of bed in the morning. AdvertisementI'm more vulnerable to catching upper respiratory illnessesBecause my immune system is suppressed, it means I'm more vulnerable to catching any bug that's going around. Related storiesIt's been almost six years since my last upper respiratory infection, but I still can't breathe as well as I used to.
Persons: , I've Organizations: Service
I've gotta say, sadly: It's the Temu version of Temu. It's Amazon's attempt to compete with cheap e-commerce apps like Temu, Shein, and the TikTok Shop. The Haul section of Amazon's app is now in beta mode. The sweater section on Amazon's Haul section has a familiar aesthetic. But for now, to me, it just feels like a sort of crummy version of Temu.
Persons: , Ava Max, Lady Gaga, It's, Obama, Shein, China — Organizations: Amazon, Service, Apple, Business Locations: Temu, China, Utah
Inflows are on track to hit the $1 trillion milestone by year-end, as the election acts as a new catalyst, the firm found. ETFs have seen inflows of more than $58 billion since Election Day, according to State Street Global Advisors. State Street's popular SPDR S & P 500 ETF Trust (SPY) has seen more than $12 billion of new money, since the Nov. 5 election. ETF flavors garnering notable flows The ETFs that track indexes have seen the biggest dollar inflows. State Street said its SPDR Galaxy Digital Asset Ecosystem ETF (DECO) has seen inflows increase by 26% since Election Day.
Persons: Todd Rosenbluth, Donald Trump's, Ryan McCormack, McCormack, Anna Paglia, Rosenbluth Organizations: Street Global Advisors, Trust, Trump, Mining
Tesla stands to benefit from any removal of consumer tax credits on electric vehicle purchases. AdvertisementElon Musk supports a Trump plan to end tax credits of up to $7,500 for electric vehicle purchases. On Thursday, Reuters reported that Trump plans to end the EV tax credit, with support from Tesla representatives. In October, the Alliance for Automotive Innovation, an industry group representing Ford, GM, Honda, Toyota, and others, urged Congress to keep the tax credits. While Musk supports cutting the EV tax credit, reports of its potential demise appear to have spooked investors.
Persons: Tesla, Elon Musk, EVs, , Elon, Musk, Trump, Kelley, Dan Ives, Joe Biden's, It's, Vaibhav Taneja, Benjamin Zhang Organizations: Service, US, Reuters, Ford, Tesla, Republican, BMW, Honda, Hyundai, Alliance for Automotive Innovation, GM, Toyota, Politico Locations: Detroit, Mexico
Former U.S. Army intelligence analyst Chelsea Manning says censorship is still "a dominant threat," advocating for a more decentralized internet to help better protect individuals online. Her comments come amid ongoing tension linked to online safety rules, with some tech executives recently seeking to push back over content moderation concerns. "Censorship is a dominant threat. "I think that social media and the monopolies of social media have sort of gotten us used to the fact that certain things that drive engagement will be attractive," she added. "One of the ways that we can sort of countervail that is to go back to the more decentralized and distribute the internet of the early '90s, but make that available to more people."
Persons: Chelsea Manning, Karen Tso, Manning Organizations: U.S . Army, Summit Locations: Lisbon, Portugal
Workers are struggling to get a handle on their jobs, and this failure falls on everyone — companies, managers, human-resources departments, and, in some cases, the workers themselves. The chaos has left employers, managers, and employees wondering just how much time and money it's worth investing in training in the first place. It's tough to learn by osmosis over Slack, and the deluge of HR apps and training modules isn't filling in the gaps. As workers and managers are increasingly overextended, these types of unmeasured, softer activities can fall by the wayside. Gavin emphasized that it's not just on companies and managers to make sure employees are learning and getting onboarded but also on individual workers.
Persons: Gen, It's, what's, Gallup, Ana Goehner, Kenneth Matos, Matos, they're, it's, Ashley Herd, nonmanagers, Christy Pettit, Herd, Stephanie Wolf, she's, Wolf, that's, Phoebe Gavin, Gavin, I'd, hadn't, Michelle, Z, they've, Emily Stewart Organizations: Workers, Adobe, doer, Fortune, Business Locations: America, HiBob, RebuttalPR
My husband and I rent an apartment on the northern coast of California and own a home in Mexico. We live in Mexico's Guanajuato part of the year and love its walkability and vibrancy. AdvertisementMy husband and I, who are 82 and 73 respectively, love being renters — but we also own a home outside of the US. For over 20 years we've split our time between our rented apartment on California's northern coast and our 150-year-old adobe house in Guanajuato, Mexico. We often spend spring, summer, and fall in California before heading down to Mexico around Thanksgiving to live in our house until it's time to fly back.
Persons: , we've, MARCO BOTTIGELLI, vibrancy, isn't, We've, viniendo Organizations: Service Locations: California, Mexico, Mexico's Guanajuato, Eureka , California, Guanajuato, Humboldt County, Humboldt Bay, Eureka
The first Proud Boys leaders to seek Capitol riot pardons are instead asking Trump directly. Meanwhile, the Proud Boys want out now, and presidents have the Constitutional power to grant immediate pardons, Biggs attorney Norm Pattis said in a 10-page letter sent to Trump on Wednesday. Two years ago, Biggs and his Proud Boys codefendants had struck a different tone regarding Trump, arguing at trial that he incited the Capitol riot and that the Proud Boys were only following his orders. Advertisement"Mr. President, you are no stranger to prosecutions warped by partisan vendetta," the Biggs pardon letter says. Former Proud Boys chairman Enrique Tarrio will also "explore every possible avenue" toward early release, his lawyer, Nayib Hassan, said in a press statement last week.
Persons: Trump, , Donald Trump, Joseph Biggs, Matt Gaetz, Tarrio, Gaetz, pic.twitter.com, gGPeTLtWmv, Biggs, Norm Pattis, Pattis, codefendants, Enrique Tarrio, Nayib Hassan, Zachary Rehl, Dominic Pezzola, Prosecutors, Pezzola, Mike Pence Organizations: Boys, Service, Department of Justice, Justice Department, Proud, Manhattan, Trump, Justice, DOJ, Capitol, Proud Boys, Tarrio, Rehl, Capitol Police Locations: Trump, Florida, Afghanistan, Iraq, Washington ,, Philadelphia, Rochester , New York
Bob's Red Mill became employee-owned in 2020 with an Employee Stock Ownership Program or ESOP. Bob's Red Mill is one of about 6,500 American companies that operate with an Employee Stock Ownership Plan, or ESOP, according to the National Center for Employee Ownership (NCEO). Bob's Red Mill CEO Trey Winthrop said the ESOP boosts employee engagement. Bob's Red MillWhen an ESOP is formed, ownership shares are distributed to employees, giving them a financial stake in the success of the company. Related storiesESOPs boost employee engagement and can lead to hefty payoutsWinthrop, who was at Bob's Red Mill long before the ESOP, said being employee-owned boosts employee engagement and retention.
Persons: Mill, Trey Winthrop, Bob Moore, Winthrop, , Moore, Bob, it's, doesn't Organizations: Service, National Center for Employee, ESOP Association Locations: Florida
Trump is rolling out new nominees for his administration. Here are the GOP senators to watch in the next several months. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementStill, there will be a handful of senators to watch as the Senate begins holding confirmation hearings in January.
Persons: , Donald Trump, Trump, Biden, Sen, Marco Rubio, Pete Hegseth's, Matt Gaetz's Organizations: Trump, Senate, GOP, Service, Democratic, State, Defense Locations: Marco Rubio of Florida
Cloud computing is a multibillion dollar industry that includes players like Amazon, Microsoft, and Google. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe Federal Trade Commission is reportedly gearing up to launch an investigation into Microsoft's cloud computing platform, Azure, based on allegations that the company is using anti-competitive tactics to maintain its dominance in the cloud market. Last year, the FTC sought public feedback on cloud providers' business practices. AdvertisementThough he faces an uphill climb toward Senate approval, Gaetz has historically supported antitrust suits amid his accusations that big tech organizations censor conservative voices.
Persons: , Lina Khan, Donald Trump's, — she's, Khan, Biden, Kahn, Mark Cuban, Kamala Harris, Alexandria Ocasio, Cortez, Harris, Trump, Matt Gaetz, Gaetz Organizations: Federal Trade Commission, Microsoft, Google, Service, FTC, Financial Times, Big, Fortune Business, Apple, Department of Justice Locations: Rep, Alexandria
Finding ways to attract consumers to buy packaged goods stretches back to the 1920s when American psychologist Daniel Starch created the world's first market research study. Founded in Singapore in 2018, the startup provides AI-powered market research with real-time predictive analytics. Rival firms include ZoomInfo Sales, Trajaan and Brandwatch Consumer Intelligence, all of which deploy a variety of technology to comb through consumer data and marketing trends. Somsubhra Gan Choudhuri, co-founder and CEO Ai Palette, said AI can take up much of the brain power usually done by people. Along with VC investors, Ai Palette has had the backing of the Singapore government, which is committing more than three quarters of a billion Singaporean dollars ($7,500,000) to AI development to strengthen its AI ecosystem.
Persons: Daniel, Ai, Gan Choudhuri, CNBC's, Choudhuri, Kellogg, Conor Delahunty, Vishal Harnal Organizations: ZoomInfo, Brandwatch Consumer Intelligence, CNBC Tech, Diageo, Nestlé, Pepsico, Symrise, Global, Venture Locations: Singapore, Thailand, Indonesia, Malaysia, Philippines
On Thursday, the European Commission fined Meta almost 798 million euros (about $840 million). AdvertisementMeta was fined almost 798 million euros (about $840 million) for breaching European rules by linking Facebook Marketplace to its social network Facebook and imposing unfair trading conditions on other classified platforms. The European Commission said Thursday that all Facebook users are "regularly exposed to Facebook Marketplace whether they want it or not." AdvertisementVestager said Meta's "conduct benefited Facebook Marketplace and gave it "advantages that other online classified ads service providers could not match." Advertisement"The reality is that people use Facebook Marketplace because they want to, not because they have to."
Persons: Meta, , Margrethe Vestager, Vestager Organizations: European, Meta, Service, Facebook, European Commission
Chase, with Chief Product Officer Rohan Amin and CIO Gill Haus at the helm, is focused on advancing technology and modernizing digital experiences. Tech, product, design, data, and digital teams collaborate to serve customer needs, operating as a product-focused organizationInternally called PXT, the organization is the heart and brain driving the future of digital banking at Chase. This prompted rapid deployment of tech solutions for employees supporting digital experiences. This prompted rapid deployment of tech solutions for employees supporting digital experiences. Enhanced customer experience: Improved satisfaction ratings in the Chase Mobile ® app and other digital platforms.
Persons: Chase, Rohan Amin, Gill Haus, Rohan, Gill, JPMorgan Chase Organizations: Chase, Chase Mobile, Insider Studios, JPMorgan, Disability, JPMorgan Chase & Locations: United States, Mobile
AdvertisementIt was perhaps inevitable that Elon Musk — a tech titan and a prolific gamer — would try to turn government spending into a game. It's a natural move for Musk, who came up in the tech world in the early 2000s, as "gamification" took hold. "That's that kind of logic that you end up having if you're not really cautious about how it's designed." AdvertisementFor the government, that might hinge on what counts as waste and whether Musk's leaderboard can get people to agree. Otherwise, Hon said gamification might have short-term benefits but backfire in the long term as important, less-tangible factors are crowded out by overemphasizing one metric.
Persons: Elon Musk, , Elon, Musk, Jane McGonigal, McGonigal, Adrian Hon, You've, Richard Landers, it's, you've, Landers, Natalia Mehlman Petrzela, " Landers, Jill, It's, Petrzela, Musk's, gamification, he's Organizations: Service, Government Efficiency, University of Minnesota, SXSW, Netflix, Nike, New School Locations: gamification
Homebuilders and economists have said a deeper labor shortage could cause housing costs to spike. The issue is the construction labor force, whose 500,000-worker shortage is already making conditions more challenging. Related Video Musk visits border, calls for Trump-style wallForeign-born workers make up about a quarter of the construction workforce. They argue that the surge in home costs is largely a result of the nationwide housing shortage, and immigrants are a key part of building housing. AdvertisementDuring the pandemic, many older, experienced workers retired, and the pipeline of younger US-born workers isn't sufficient, homebuilders say.
Persons: Homebuilding execs, Donald Trump's, , Eric Finnigan, John Burns, Ben Metcalf, Jim Tobin, JD Vance, Trump, Vance, Barack Obama, Obama, Joe Biden, Tom Homan, Chad Blocker, Homebuilders, Dennis Webb Organizations: Service, Trump, University of California, National Association of Home Builders, Immigration, Biden Locations: Berkeley, Los Angeles, Phoenix
Bernard, CEO and chairman of LVMH, is the world's richest person with a $158.5 billion net worth. Related Video 5 ways Elon Musk shook up Twitter as CEOAlexandre Arnault and Bernard Arnault in 2016. Representatives for LVMH, Arnault, and Guiony did not respond to requests for comment from Business Insider. The new appointments also drum up speculation about who will succeed Bernard as LVMH's CEO. The Arnault family has been compared to the Roy family, the subjects of the HBO drama, "Succession."
Persons: Alexandre Arnault, Moët Hennessy, Bernard Arnault's, , Bernard Arnault's multibillion, LVMH, Bernard, Christian Dior, Bernard's, Alexandre, Elon Musk, Bernard Arnault, Donato Sardella, Louis Vuitton, Jean, Jacques Guiony, Guiony, — Alexandre, Frédéric —, Delphine Arnault, Dior Couture, Antoine Arnault, Antoine, Jean Arnault, Roy, Roy family's Organizations: Service, company's Sustainability, LVMH's, Product, Communications, Tiffany, LVMH, Business, Reuters, Christian Dior, HBO, New York Times Locations: LVMH
Instead of killing jobs, generative AI is fueling a surprising job boom, according to the venture capitalist Marc Andreessen. OpenAI and Google are struggling to significantly improve their next AI models, multiple media reports said this week. That's what makes these AI models smart, and without that, OpenAI and others are hitting a worrying wall. They're a function of the training data," Andreessen said. "And a big part of the AI hiring boom is actually hiring the experts to actually craft the answers to be able to train the AI."
Persons: Marc Andreessen, Horowitz, Andreessen, OpenAI, Ben Horowitz, Andreessen's Organizations: Google, AIs, Business, Andreessen Locations: chimed
Edith Yeung, general partner at Race Capital, and Larry Aschebrook, founder and managing partner of G Squared, speak during a CNBC-moderated panel at Web Summit 2024 in Lisbon, Portugal. LISBON, Portugal — It's a tough time for the venture capital industry right now as a dearth of blockbuster initial public offerings and M&A activity has sucked liquidity from the market, while buzzy artificial intelligence startups dominate attention. And in the VC world, it's really all about liquidity stupid," Edith Yeung, general partner at Race Capital, an early-stage VC firm based in Silicon Valley, said in a CNBC-moderated panel earlier this week. When a VC makes an equity investment and the value of their stake increases, it's only a gain on paper. Yeung said the lack of IPOs over the last couple of years had created a "really tough" environment for venture capital.
Persons: Edith Yeung, Larry Aschebrook, G, Portugal —, Groq —, Yeung, there's, Big Techs Organizations: Race Capital, CNBC, Summit, Microsoft Locations: Lisbon, Portugal, LISBON, U.S, Silicon Valley
Overall, the S & P 500 jumped 2.4% since the last monthly meeting, while the Nasdaq and Dow climbed 4.5%, and 2%, respectively. Wells Fargo up 13.9% Ever since the Fed kicked off its monetary easing cycle with a jumbo 50-basis-point rate cut in mid-September, financial names have soared. Wells Fargo, which did take a hit one week ago, posted a record-high close Wednesday. Research analysts at Bank of America, for example, raised their price target on Wells Fargo Monday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: It's, Donald Trump, Dow, Wells Fargo, Morgan Stanley —, Morgan Stanley, Bank of America —, Wells, Trump, dinged, Morgan, Jim Cramer's, Jim Cramer, Jim, Stephani Spindel Organizations: Nasdaq, Big Tech, Club, Microsoft, Trump, Depot, Dow, Wall Street, Jefferies, Bank of America, Meta, Fed, Wall, Research, Wells, Palo Alto Networks, Jim Cramer's Charitable, CNBC, New York Stock Exchange Locations: Wells, BlackRock, CrowdStrike, Wells Fargo, Amazon, American, Manhattan, New York City, U.S
Over the past 10 years, I've traveled alone to all 63 major US national parks. First-time travelers often don't realize they sometimes have to secure reservations ahead of time. Go to newsletter preferences Thanks for signing up! Now that I've been to all 63 major national parks, I've seen plenty of other new travelers in my shoes. Here are the eight most common mistakes I see first-time travelers make when visiting the national parks.
Persons: I've, It's, Organizations: Service
I bought a house in Cork, Ireland, but I still live in the US for part of the year. My Irish husband lives in the house full time, and I go back and forth between Atlanta and Cork. It's a bit complicated, but I'm glad I have time to figure out all the logistics of moving abroad. AdvertisementYears ago, I had a dream (yes, really) telling me to head to West Cork, Ireland. I've had to be really, really particular about which pieces and belongings I want to take to Ireland because shipping things overseas isn't cheap.
Persons: , who've, — who's, I'm, it's, I've, Julia Skinner Organizations: Service, Western Locations: Cork, Ireland, Atlanta, It's, West Cork, Dunnes, Western Europe, East Coast
Google Maps launched updates to help last-minute shoppers avoid the lines and find nearby products. AdvertisementIf you're a last-minute shopper, Google Maps has you covered this holiday season. Related storiesThe feature adds in-store inventory information from retailers and highlights it on the Google Maps app. Google Maps also added an update for EVs that allows drivers to plan trips on the phone and send routes with charging stops to their vehicle's Google app. The new Google Maps updates come just a couple of weeks after the platform got an AI overhaul with integrated Gemini features.
Persons: Organizations: Google, EV, Service
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