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☆ This 'back of the napkin math' shows whether you could have a surprise tax bill, expert says
▼ + stars: | 2024-09-16 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If your gross income and tax situation has not changed from last year, you are likely to owe a similar amount for 2024, Lucas explained. If you have paid roughly 75% of last year's total taxes by the end of September, "you're going to be pretty darn close, assuming everything is the same as the prior year," he said. In those scenarios, you will need a more in-depth analysis to double-check your 2024 withholding, he said. IRS tax withholding estimatorIf your tax situation changed this year, experts recommend periodically using a free tool from the IRS, known as the "tax withholding estimator." watch nowAlternatively, you could make payments directly to the IRS to cover your 2024 tax shortfall, Lucas said.

Persons: Lucas, you've, Mark Steber, Jackson Hewitt Organizations: Bank, Getty, IRS

☆ The states where rent is going up the fastest — and the slowest
▼ + stars: | 2024-09-16 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +3 min

States such as Maine, New Mexico, and Utah have seen the largest percent increases in median gross rent — which includes rent and utility costs — between 2022 and 2023. The median housing cost for renters increased from $1,354 to $1,406 during this period. The census data covers increases between 2022 and 2023, and more recent data shows that cost growth has continued this year. According to national Redfin data, rents increased slightly nationwide in September 2024 compared to the year prior, at 0.9%, and are now $1,645 for all rental sizes. The ACS reveals some racial inequities among cost-burdened households.

Persons: — Organizations: Service, Survey, Business, DC Locations: Maine, New Mexico, Utah, Hawaii, Washington, Florida, Mississippi, Alaska, New York, Raleigh, Fort Worth, Charlotte, Milwaukee, Florida , Nebraska, Vermont, Alaska , Delaware, Georgia, Pennsylvania

☆ India can achieve sustainable growth of up to 8% in the coming years, central bank chief says
▼ + stars: | 2024-09-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +3 min

Punit Paranjpe | Afp | Getty ImagesIndia can achieve sustainable economic growth of up to 8% over the medium term, according to the country's central bank governor. The figures have ratcheted up pressure on the central bank to launch its own rate-cutting cycle sooner rather than later. Shaktikanta Das, governor of the Reserve Bank of India (RBI), speaks during the Global Fintech Fest 2024 in Mumbai, India, on August 28, 2024. Nurphoto | Nurphoto | Getty ImagesIt comes as major central banks have started to ease monetary policy in recent months, including the European Central Bank, the Bank of England and the Swiss National Bank. Women (silhouetted) walk past Reserve Bank of India (RBI) logo displayed at Global Fintech Fest exhibition in Mumbai.

Persons: Punit Paranjpe, CNBC's Tanvir Gill, Shaktikanta Das, Das, Goldman Sachs Organizations: Afp, Getty, Reserve Bank of India, International Monetary Fund, Nurphoto, European Central Bank, Bank of England, Swiss National Bank, The U.S . Federal Reserve, ECB, Bank of India, Global Locations: Mumbai, India, Japan, Germany, U.S, China

☆ Russia's oil revenue has plunged as global crude prices tumble
▼ + stars: | 2024-09-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Russia's oil revenue has plummeted as global crude prices fall. Oil sales dropped to $1.44 billion in the week ending September 8, per data cited by Bloomberg. AdvertisementRussia's oil business has taken a hit, with the nation's crude revenue dropping to its lowest levels in seven months, according to Argus Media data cited by Bloomberg. Urals crude, Russia's flagship oil blend, has edged lower to $67.61 a barrel, down around 20% from its peak in the spring of this year. Russia is set to make even steeper oil production cuts later in 2024, as part of OPEC's goal to boost crude prices.

Persons: —, Russia's Organizations: Bloomberg, Service, Argus Media, Russia's Energy Ministry Locations: Moscow, Russia, Hungary, Asia

Evercore ISI lowered its price target on Alphabet to $200 from $225 , citing antitrust worried. Analyst Atif Malik's $130 price target, up from $119, implies that the stock could rally 17% from here. The firm upgraded the software giant to a buy rating and hiked its price target to $210 from $155. The investing firm downgraded the online bank to neutral from buy and removed its $44 price target. — Lisa Kailai Han 5:49 a.m.: Evercore ISI trims Alphabet price target Alphabet's antitrust issues will limit upside going forward, according to Evercore ISI.

Persons: Atif, Malik, — Lisa Kailai Han, Ben Reitzes, Reitzes, BTIG, Vincent Caintic, Caintic, Lisa Kailai Han, KeyBanc, Justin Patterson, Patterson, GE Vernova, Julian Mitchell nodded, Mitchell, Mark Mahaney, Mahaney, Fred Imbert Organizations: CNBC, ISI, Barclays, GE Vernova, Citi, Oracle Melius Research, Oracle, Ally, Spotify, TAM, GE, General Electric, Electric Utilities, DOJ, Google, Microsoft, TAC Locations: Friday's, MI, United States, U.S

☆ Here are Monday's biggest analyst calls: Tesla, Nvidia, Apple, Oracle, Carvana, Micron, Sprouts, Zillow, Coca-Cola & more
▼ + stars: | 2024-09-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are the biggest calls on Wall Street on Monday: Evercore ISI reiterates Alphabet as outperform Evercore says it's sticking with shares of the search giant. Morgan Stanley reiterates Micron as equal weight Morgan Stanley lowered its price target on the stock to $100 per share from $140. Morgan Stanley reiterates Tesla overweight Morgan Stanley says it's sticking with its overweight rating heading into Tesla's robotaxi day on Oct. 10. Morgan Stanley upgrades Ase Technology to overweight from equal weight Morgan Stanley said in its upgrade of Ase that the chipmaker's stock is defensive. Morgan Stanley upgrades Chart Industries to overweight from equal weight Morgan Stanley says the gas liquefication company has "significant exposure to both energy transition and renewables as well as traditional energy."

Persons: Evercore, Morgan Stanley, Tesla, Simon, Eaton, Wells, Pro Max, Carvana Evercore, Jack Sinclair, Curtis Valentine, Merchant Scott Neal, BTIG, Truist, Melius Organizations: DOJ, Micron, Technology, Industries, Citi, downgrades Colgate, Palmolive, CL, Barclays, GE, GE Vernova, JPMorgan, Apple, Pro, Ally, Mizuho, Oracle, " Bank of America, Nvidia, Bank of America Locations: Tesla's, Staples

☆ I Joined New York City's Rat Czar to Fight the City's Rodent Invasion
▼ + stars: | 2024-09-15 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

In reality, the Rat Pack offers regular citizens a crash course in rodent mitigation in hopes of inspiring them to take more active roles in what often feels like an unwinnable battle. AdvertisementThose who join the Rat Pack must complete three activities: a "rat walk" that promises to "uncover the world of urban rats," a two-hour "rat academy" on rodent-prevention methods, and a service project, like a park cleanup. If you seek to understand this rat, Corradi told our group, "you can kind of just hold up a mirror and look at yourself." Related storiesCorradi, recognizable from various press appearances and her navy Rat Pack hat, is supposed to offer New Yorkers additional peace of mind. And yet I secured my precious Rat Pack merch by doing exactly that.

Persons: Andrew Barrett, He's, Barrett, Eric Adams, Kathleen Corradi, Brooklyn's Herbert Von King, wouldn't, Corradi, haven't, Adams, Michael Parsons, we've, doesn't, there's, We've, —, I'd, shrugged, You'll Organizations: NYC, Cub Scouts, Anadolu Agency, Washington DC, Anadolu Locations: Brooklyn, Yorkers, New York, New York City, Chicago, Brooklyn's Chinatown, West Harlem

“I’ve been battling this for over 20 years,” Belk, 68, said of his medical debt. The burden of medical debt has contributed to financial anxiety among voters and has become an issue in the 2024 presidential campaign. Guill, who has multiple sclerosis, lives in Aiden, North Carolina, a rural community just south of Greenville. She volunteers with a nonprofit called Down Home North Carolina to help her neighbors gain access to Medicaid. “We have a ton of people with medical debt in the state because our insurance plans didn’t cover our medical bills,” she said.

Persons: “ I’ve, ” Belk, KFF, ”, Berneta Haynes, Terry Belk's, Mike Belleme, “, it’s, don’t, Cynthia Fisher, they’ve, PatientRightsAdvocate.org, Darcy Guill, Darcy Guill Guill, Harold Miller Organizations: National Consumer Law Center, U.S, NBC, Atrium Health, Health, American, of Public Health, Nonprofit, Affordable, The Commonwealth Fund, Urban Institute, Center for Healthcare Locations: South Dakota, Mississippi, North Carolina, American, Charlotte, N.C, United States, U.S, Aiden , North Carolina, Greenville

☆ Women in Iran going without hijabs as 2nd anniversary of Mahsa Amini’s death approaches
▼ + stars: | 2024-09-14 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +6 min

The country’s new reformist President Masoud Pezeshkian campaigned on a promise to halt the harassment of women by morality police. In Iran, the hijab — and the all-encompassing black chador worn by some — has long been a political symbol as well. There have been scattered videos of women and young girls being roughed up by officers in the time since. Surveillance cameras search for women uncovered in vehicles to fine and impound their cars. The government has gone as far as use aerial drones to monitor the 2024 Tehran International Book Fair and Kish Island for uncovered women, the U.N. said.

Persons: Mahsa Amini, there’s, Masoud Pezeshkian, Ayatollah Ali Khamenei, ”, Amini, Khamenei, Ebrahim Raisi, Pezeshkian, Hamid Zarrinjouei, “, Mohammad Movahedi Azad, Movahedi Azad, Ham Mihan, hadn’t, Simin Kazemi Organizations: United Nations, Tehran Sharif University, Metro, Pezeshkian, Iran’s, Iran’s Ministry of Culture Locations: it’s, Iran, Tehran, Tehran Sharif, Kish

☆ 5 warning signs the economy is spiraling toward recession — and why there's 'major disconnect' between stocks and the job market
▼ + stars: | 2024-09-14 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

And yet, the unemployment rate continues to inch up, job openings continue to fall, and payroll data continue to underwhelm. But how long that enthusiasm can continue to outweigh declining labor market indicators remains to be seen. AdvertisementThe first is declining job openings, which are down to 7.6 million from 2022 highs above 12 million. BullAndBearProfits.comAnother sign Wolfenbarger shared showing the labor market is turning sour is the Kansas City Fed's Labor Market Conditions Index, which is a composite of 24 job market indicators. BullAndBearProfits.comFinally, in a September 2 note, Wolfenbarger shared a chart from Bank of America showing the decline in private job growth as a share of all job growth.

Persons: —, Jon Wolfenbarger, Merrill Lynch, Wolfenbarger, there's, BullAndBearProfits.com, John, Hussman, Stocks Organizations: Service, JPMorgan, Business, Kansas City Fed's Labor, BullAndBearProfits.com, Bank of America Locations: Kansas

☆ We ranked the latest earnings reports from 30 portfolio stocks from great to ugly
▼ + stars: | 2024-09-14 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The company may have maintained its full-year revenue outlook, but that was taken as good enough after last quarter's debacle. Management also provided a better-than-expected sales, earnings, and recurring revenue outlook. The Good Abbott Laboratories : Sales, earnings and organic growth all exceeded analyst estimates. Broadcom : Sales and earnings outpaced expectations , driven by strong sales of its AI products and VMware software. Alphabet : Delivered largely better-than expected earnings results that showed the search and cloud giant is finally on better footing in the fast-growing AI space.

Persons: we've, Lisa Su, —, Eli Lilly, Zepbound, Stanley Black, Stanley, Morgan Stanley, Procter, Jim Cramer's, Jim Cramer, Jim, Steve Marcus Organizations: Costco, DuPont, Club, Management, Nvidia, Palo Alto Networks, Good Abbott Laboratories, Broadcom, VMware, Wealth Management, Investment Management, Microsoft, Constellation Brands, TJX, Amazon Web Services, Coterra Energy, GE Healthcare, Honeywell, Gamble, Jim Cramer's Charitable, CNBC, AMD Locations: China, Covid, Dover, Eaton, Palo, North America, GEHC, Wells Fargo, Las Vegas , Nevada, U.S

☆ Why Trump’s trade hero turned against tariffs
▼ + stars: | 2024-09-14 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +15 min

Vice President Kamala Harris has lambasted Trump’s tariff plan as a tax, but President Joe Biden has maintained tariffs Trump put in place during his presidency. We used trade policy, or tariffs, as a form of reciprocity, where we said, OK, our tariffs are pretty high. So that’s what led to all these trade agreements, the General Agreement on Tariffs and Trade, GATT, which became the WTO (World Trade Organization), NAFTA (North American Free Trade Agreement) and other free trade agreements that we’ve reached. He began to entertain this idea of reciprocity, of trying to reduce foreign tariffs by offering cuts in our tariffs. How do those tariffs compare with the late 19th century tariffs?

Persons: CNN —, Donald Trump, Kamala Harris, Joe Biden, Biden, Read, Douglas Irwin, Irwin, William McKinley —, Trump, IRWIN, there’s, It’s, we’ve, William McKinley WOLF, William McKinley, McKinley, they’ve, Bush, H.C ., William Jennings Bryan, that’s, they’re, it’s, Britain WOLF Organizations: CNN, Republicans, Democrats, Trump, Dartmouth College, Commerce, US Trade, Trade, WTO, World Trade Organization, American Free Trade, of Congress, University, Virginia’s, Federal, WOLF, Peterson Institute for International, Republican Party Locations: China, Ohio, Pennsylvania, Homestead , Pennsylvania, H.C, Buffalo, trillions, United States, it’s China, Britain, Japan

Mortgage rates probably won't drop much further if the Fed cuts rates, unless central bankers opt for a larger-than-expected cut. 30-Year Mortgage RatesAverage 30-year mortgage rates have been dropping this month and are now down near 5.70%, according to Zillow data. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, they've, Freddie Mac, it's, Fannie Mae Organizations: Federal Reserve, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed, Mortgage, Association Locations: Chevron

☆ Christian McCaffrey to miss another game for the 49ers and could be headed to injured reserve
▼ + stars: | 2024-09-13 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

SANTA CLARA, Calif. — All-Pro running back Christian McCaffrey has been ruled out of this weekend’s game for the San Francisco 49ers because of his lingering calf and Achilles’ injuries and could be headed to injured reserve. McCaffrey was held out of practice on Friday, a day after experiencing pain in practice. He was then ruled out of the game Sunday against Minnesota after expressing hope earlier in the week that he could play. Addison had seven catches for 123 yards and two TDs in a win against San Francisco last season. In other injury news for San Francisco, defensive end Yetur Gross-Matos is set to play after missing the opener with a knee injury.

Persons: Christian McCaffrey, ’, McCaffrey, Kyle Shanahan, ” Shanahan, ” McCaffrey, “, John Lynch, it’s, It’s, Jordan Mason, Jordan Addison, Addison, Brian O’Neill, Harrison Smith, Ed Ingram, Yetur Gross, Matos, Dee Winters Organizations: San Francisco 49ers, Minnesota, Jets, NFL, Niners, New York Jets, Vikings, San Francisco, San Locations: SANTA CLARA, Calif, San Francisco’s, Minnesota, San Francisco

The third-quarter estimated tax deadline for 2024 is Sept. 16, and skipping a payment could trigger a penalty, according to the IRS. Some filers also need estimated payments if they haven’t withheld enough taxes from a full-time or part-time job. Estimated payments can help avoid “refund disappointment or balance due shock,” said Mark Steber, chief tax information officer of Jackson Hewitt. For 2024, the quarterly estimated tax deadlines are April 15, June 17, Sept. 16 and Jan. 15, 2025. You can use your online account, IRS Direct Pay or the U.S. Department of the Treasury’s Electronic Federal Tax Payment System, or EFTPS.

Persons: ”, Mark Steber, Jackson Hewitt, there’s, Tricia Rosen, Virgin Organizations: Taxpayers, IRS, U.S . Department Locations: Newburyport , Massachusetts, Puerto Rico

☆ Nvidia still has a very compelling story, says Morgan Stanley's Joseph Moore
▼ + stars: | 2024-09-13 | 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 EmailNvidia still has a very compelling story, says Morgan Stanley's Joseph MooreJoseph Moore, Morgan Stanley senior semiconductor analyst, joins 'Squawk Box' to discuss what happened this week with Nvidia's stock, if the company's Blackwell chip will have less gross margin than its predecessor, and more.

Persons: Morgan Stanley's Joseph Moore Joseph Moore, Morgan Stanley, Blackwell Organizations: Nvidia

☆ IRS: This 'rule of thumb' shows who needs to make a third-quarter estimated tax payment by Monday
▼ + stars: | 2024-09-13 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

The third-quarter estimated tax deadline for 2024 is Monday, Sept. 16, and skipping a payment could trigger a penalty, according to the IRS. Typically, you need estimated payments for any income without tax withholdings, such as earnings from self-employment, contract or gig economy work and investment or retirement income. Some filers also need estimated payments if they haven't withheld enough taxes from a full-time or part-time job. Estimated payments can help avoid "refund disappointment or balance due shock," said Mark Steber, chief tax information officer at Jackson Hewitt. You can find adjusted gross income on line 11 of Form 1040 from your 2023 tax return.

Persons: Mark Steber, Jackson Hewitt, — Organizations: Finance, Security Locations: Washington

☆ Top economist Ed Hyman no longer sees recession coming, flips GDP forecast to positive
▼ + stars: | 2024-09-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Economists Ed Hyman is backing off his call for a hard landing, even though he still sees the potential for a recession ahead. "History and experience say to stick with a hard landing outlook," he said in a client note Thursday. "However, the hard math that our team has reviewed says flip to a soft landing outlook. "In our view, arguments for a hard landing are still persuasive," Hyman wrote. "So this flip could be a mistake," Hyman wrote.

Persons: Ed Hyman, Hyman, Ally, Russell Hutchinson, it's Organizations: ISI, Atlanta Federal Reserve, JPMorgan Chase, Federal Reserve Locations: New York

☆ Here are Friday's biggest analyst calls: Nvidia, Netflix, Tesla, Kroger, Arm, Oracle, Eli Lilly, PNC, GE Vernova & more
▼ + stars: | 2024-09-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Friday's biggest calls on Wall Street: Raymond James initiates Arm as outperform Raymond James said the semis company is well positioned for AI. Citi downgrades Capri Holdings to neutral from buy Citi said the risk/reward is more balanced for the owner of brands like Michael Kors. UBS reiterates Oracle as buy UBS raised its price target on the stock to $200 per share from $175. The feedback on Oracle's top-line growth was overall positive..." UBS reiterates PNC as buy UBS said the bank is a high conviction idea. " Citi resumes Eli Lilly as buy Citi resumed coverage of the stock and says it's well positioned.

Persons: Raymond James, Jefferies, SLG, CFRA, it's, datopotamab, Michael Kors, haven't, Morgan Stanley, EQT, Citi, Eli Lilly, Lilly, Tesla, BEV, Wells Organizations: Arm Holdings, ARM, Citi, Green, Kroger, Macquarie, Rio Tinto, Deutsche Bank, AstraZeneca, Deutsche, Capri Holdings, Barclays, Garmin, GM, BMO, GE, UBS, Oracle, Oracle's, PNC, JPMorgan, Netflix, JPMorgan downgrades Moderna, Nvidia, NVIDIA Locations: GenAI, New York, Rio, RIO, Las Vegas

☆ How the New Hampshire National Guard failed to protect women
▼ + stars: | 2024-09-13 | by ( Haley Britzky | ) edition.cnn.com time to read: +19 min

His attorney told CNN Patterson is expected to retire as a major, one rank below lieutenant colonel, by November 1. His case is perhaps the most high-profile example of a problem women say has plagued the New Hampshire National Guard for years: A toxic, sexist work environment. The New Hampshire National Guard told CNN in a statement that 2023 was an anomalous year for sexual assault reports. “There’s way too much of ‘foxes guarding the henhouse’ in every angle of the [National Guard Bureau],” the IRC member said. “The National Guard belongs to the governors, and so they can do what they want.”The office of New Hampshire Gov.

Persons: Mark Patterson, Patterson, ”, he’d, CNN Patterson, “, Kennith Kruger, Patterson “, ’, Katrina Dupuis, Dupuis, weren’t, ’ ” Dupuis, ” Dupuis, she’d, “ aren’t, David Mikolaities, didn’t, Emily Paige Kamal, ” Kamal, Kate Kuzminski, ” Kuzminski, Maj, Charles Johnston, Chris Sununu, Sununu, Jaleesa Ackerman, Ackerman, ’ ”, Keri Wareing, Wareing, ” Wareing, Jeanne Shaheen, they’ve, Shaheen, OCI, Shaheen “, They’re Organizations: CNN, New Hampshire National Guard, Army, National Guard, Guard, New Hampshire National, New Hampshire National Guard’s Army, Department of, New, New Hampshire Department of Military Affairs, Veterans Services, The New Hampshire National Guard, ‘, Pentagon, Military, Veterans, Center, New American Security, Pembroke , New Hampshire . Tech, Defense, Independent Review Commission, National Guard Bureau, New Hampshire Gov, Services, Manchester Police Department, Mikolaities, Criminal, Organization, Independent, Capitol, Senate Armed Services Committee, Senate National Guard Caucus Locations: New Hampshire, Wyoming, NH, The, New American, Pembroke , New Hampshire, New

☆ Trump is drowning in the misinformation swamp he helped create
▼ + stars: | 2024-09-12 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —The Republican nominee for president went on live TV and presented an unhinged, debunked Facebook rumor as fact. Scrolling on Facebook or X, it’s hard not to see some of that chaos creeping into the mainstream. Just a few weeks ago, the former president posted an AI-generated image on his Truth Social platform that suggested Taylor Swift had endorsed him. Of course, it was a fake image — the same kind of obvious AI slop that has overrun Facebook and X. Either Trump didn’t know the image was fake, or he didn’t mind lying to his followers and perpetuating the fake endorsement.

Persons: CNN Business ’, Donald Trump, ”, “, Jake Tapper, It’s, Clare Duffy, Elon Musk, ” Musk, there’s, Alex Brandon, Barack Obama, Taylor Swift, Trump, he’s, Kamala Harris, Swift, JD Vance, who’s, “ Fine Taylor Organizations: CNN Business, New York CNN, Republican, 4chan, Meta, Trump, AP, Facebook Locations: New York, Ohio

The bank raised its price target on MercadoLibre Thursday to $2,500 from $2,225, suggesting 22% upside from Wednesday's close. The bank increased its price target to $230 from $200, implying nearly 16% upside from Wednesday's close. Supino also lifted the firm's price target to $93 a share, reflecting about 33% upside from Wednesday's close. Analyst Adam Berlin lowered his 12-month price target to $29 from $34, implying 6% downside. The investment firm's price target of $159 implies more than 2% downside from Wednesday's close.

Persons: Robert Ford Aguilar, — Michelle Fox, Wells, Wells Fargo, Eric Luebchow, Luebchow, Lisa Kailai Han, Sean Conlon, Wolfe, Peter Supino, Supino, Samantha Subin, BofA, George Staphos, a.m, Adam Berlin, Berlin, IPG, — Sean Conlon, Bernstein, Mark Moerdler, — Lisa Kailai Han, Stifel, Simon Yarmak, Andrea Pistacchi, Brandt Montour, it's, Montour, Fred Imbert Organizations: CNBC, Barclays, Bank of America, Diageo, Mercado, Mobile, Sprint, Wolfe Research, UBS downgrades, UBS, billings, GM, Pfizer, Oracle, Simon Property, Property Group, SPG, U.S, New York Stock Exchange Locations: Brazil, Mercado Pago, Wells Fargo, Wells, Roku, Berlin, America, U.S

☆ OpenAI, Anthropic and Google execs meet with White House to talk AI energy and data centers
▼ + stars: | 2024-09-12 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

Leaders at OpenAI, Anthropic, Microsoft , Google and several American power and utility companies met Thursday at the White House to discuss the future of artificial intelligence energy infrastructure in the U.S., sources familiar with the meeting told CNBC. An OpenAI spokesperson told CNBC that the company believes building additional infrastructure in the U.S. is critical to the country's industrial policy and economic future. by ensuring data-centers are built in the United States while ensuring the technology is developed responsibly," White House spokesperson Robyn Patterson told CNBC. White House chief of staff Jeff Zients and White House deputy chief of staff Bruce Reed also attended, according to a source. Anthropic counts Amazon as a leading investor, while OpenAI is heavily backed by Microsoft.

Persons: Sam Altman, Dario Amodei, Ruth Porat, OpenAI, Biden, Harris, Joe, Kamala, Robyn Patterson, Gina Raimondo, Jennifer Granholm, Jake Sullivan, Ali Zaidi, Kristine Lucius, John Podesta, Jeff Zients, Bruce Reed, Anthropic, government's Organizations: Microsoft, Google, White, CNBC, CNN, U.S . National, White House, AI Safety, Department of Commerce, National Institute of Standards, Technology, Biden Locations: U.S, America, Wisconsin , California , Texas, Pennsylvania, A.I, United States

☆ Dutch neobank Bunq goes on hiring spree, targeting digital nomads, as other fintechs slash jobs
▼ + stars: | 2024-09-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Dutch digital bank Bunq is plotting re-entry into the U.K. to tap into a "large and underserved" market of some 2.8 million British "digital nomads." "Bunq focusses on digital nomads who tend to roam the world," Ali Niknam, Bunq's CEO and co-founder, told CNBC via emailed comments. And in the U.K., Bunq is awaiting a decision from financial regulators on an application to become a licensed e-money institution, or EMI. Many of these positions will be part of a "tailored digital nomad" program that allows staff to work from anywhere in the world, Bunq said. Bunq earlier this year reported its first full year of profitability, generating 53.1 million euros ($58.51 million) in net profit in 2023.

Persons: Pavlo Gonchar, Bunq, Britain's, Ali Niknam, Niknam, Coinbase, Klarna, Bunq's Niknam Organizations: Getty Images, CNBC, European Union, U.S, EMI, PayPal Locations: United States, Amsterdam, Sofia, Istanbul, Munich, Paris, Dublin, Madrid, London, New York City

☆ Here are Thursday's biggest analyst calls: Apple, Nvidia, Roku, Meta, Oracle, Broadcom, Micron & more
▼ + stars: | 2024-09-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Wells Fargo initiates Blackrock as overweight Wells Fargo said the asset manager is well positioned. " Bernstein reiterates Nvidia & Broadcom as top ideas Bernstein said both stocks remain top picks at the firm and that margin fears are overdone. Bernstein reiterates Oracle as a top idea Bernstein said it sees "increasing revenue growth" for Oracle. " Morgan Stanley reiterates Amazon, Alphabet and Meta as overweight Morgan Stanley said the three internet giant's are well positioned in the ad market. Morgan Stanley reiterates Apple as overweight Morgan Stanley named Apple to its Vintage Values list as a stock to own for the next 12 months.

Persons: Wells, Wells Fargo, Stephens, Bernstein, Blackwell, Morgan Stanley, Goldman Sachs, Goldman, Jefferies, McDonald's, it's, Wolfe, Apple, Raymond James Organizations: Simon Property Group, SPG, Blackstone, Apollo, TPG, SF, APO, Blackrock, Nvidia, Broadcom, Oracle, Bank of America, Diageo, of America, Barclays, TAM, CTV, FedEx, UBS, Costco, " Bank of America, Apple, Micron

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