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Bitcoin investors shouldn't sell amid high volatility, Anthony Scaramucci said. He said clients have been dismayed by the crypto's big price swings. He said at the Bitcoin Investor Day conference that his advice to clients is to "act like you're dead." "So act like you're dead with your bitcoin and don't sell your bitcoin. That occurrence, industry experts say, could create a supply shock and ultimately push the price of bitcoin higher.
Persons: Anthony Scaramucci, , Anthony Pompliano, Scaramucci, Donald Trump, Charles Schwab, Bitcoin, Cathie Wood Organizations: Service, SkyBridge, Wall Street, White, Communications, Securities and Exchange, BlackRock, Fidelity, SEC
Business: Greencore Group is an Ireland-based manufacturer of convenience foods. Premier Foods has generated a total return of nearly 300%, while Greencore is down 41.5% in that time. It is hard to believe there is another investor more qualified to create shareholder value at Greencore than Oasis. In addition, at The Restaurant Group and Premier, Oasis pushed for the sale of non-core assets, which is consistent with streamlining operations and creating shareholder value. One Greencore director who Oasis knows well is Alastair Murray, the former CFO and once-interim CEO of Premier Foods.
Persons: Seth Fischer, Greencore, Daniel Wosner, Oasis, Gavin Darby, Darby, Wosner, Wosner's reappointment, Dalton Philips, Catherine Gubbins, Alastair Murray, Murray, Ken Squire Organizations: Greencore, Convenience Foods, Ireland, Oasis Management, Oasis, Premier Foods, Apollo, Premier, Group, 13D Locations: Ireland, United Kingdom, Hong Kong, Tokyo, Austin, Cayman Islands, Asia, Europe
Venture capital firm World Fund said Friday it's closed a 300 million euro ($325 million) fund to back startups tackling climate change. World Fund, a European climate technology investor incubated by the environment-conscious search engine Ecosia, said it had raised the cash despite a challenging environment for technology investing — and, in particular, climate technology investing. Investors have reeled from riskier tech-related bets after a jump in inflation and interest rates, which has surged dramatically since the Russia-Ukraine war in 2022. Central banks have hiked rates to stem inflation, which has in turn soured investor sentiment toward tech. "They've been like, sorry this is too much, you can't raise 300 million plus," Višević told CNBC.
Persons: Višević, They've Organizations: World, Silicon Valley Bank, CNBC, Private Locations: Russia, Ukraine, Central, Silicon
Proxy advisory firm Institutional Shareholder Services on Thursday recommended that Walt Disney shareholders elect activist investor Nelson Peltz to the board in his bitter fight against CEO Bob Iger. While siding with Peltz, ISS told shareholders not to back Rasulo in the fight, citing his previous positioning as a potential successor to Iger. "Though we do not have any concerns about his ability to serve as an objective director, we recognize that Rasulo's potential presence might create added friction on the board," ISS said. Another proxy advisory firm, Glass Lewis, earlier this week endorsed Disney's slate of board nominees. Large institutional shareholders will often — but not always — vote based on the recommendation of either of the two proxy advisory firms.
Persons: Nelson Peltz, Bob Iger, Peltz, Jay Rasulo, Iger, Trian, Maria Elena Lagomasino, Disney, Blackwells, Roy Disney, Jamie Dimon, George Lucas, Glass Lewis, Lewis, — CNBC's Rohan Goswami Organizations: Walt Disney, New York Stock Exchange, Services, Trian Fund Management, Disney, ISS, JPMorgan Chase, Disney's
Horwitz's March 13 memo was sent to all partners, managing directors, and vice presidents in response to a recent Wall Street Journal story. Women exits at GoldmanThe story comes amid a recent spate of departures of high-profile female executives at Goldman. Other women partners who have left include Katie Koch, a former top executive in asset management; Heather Miner, ex-global head of investor relations; and Jennifer Davis, a former head of retail investment banking. We are very fortunate to have extraordinary female partners that continue to increase in numbers. Our longer term success depends significantly on developing female partners in senior roles."
Persons: Goldman Sachs, Russell Horwitz, hasn't, Horwitz, David Solomon's, Horwitz —, Goldman, Marc Nachmann, Stephanie Cohen, BI's Bianca Chan, Beth Hammack, Cohen, Hammack, Alison, , Solomon, Katie Koch, Heather Miner, Jennifer Davis, Horowitz, Russell W, David, we've Organizations: Business, Horwitz's, Goldman, Firm, Women, Media Relations
However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing. High-yield online savings accountsThe average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate. As with any bank savings rate, high-yield savings account rates can change overnight, and the bank may not alert you when it lowers it. But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments. Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC.
Persons: , Ted Rossman, ” Rossman, Ken Tumin, Schwab, you’d, Tumin, Doug Ornstein, Andy Smith, Ornstein, doesn’t, ” Smith Organizations: New York CNN, Bankrate, JPMorgan Chase, Bank of America, Fidelity, TIAA Wealth Management, FDIC, Securities Investor Protection Corp, Edelman, AAA Locations: New York, Wells Fargo, United States
The simmering topic has been up for debate, in part because prices for NFL teams have risen so high that they threaten to restrict who can be a lead owner. This raises the question: Are investments in sports teams actually a good investment, especially for risk-averse investors like pensions and endowments? According to new research published in Investments & Wealth Publications in November, the answer is a resounding yes. For the article, he teamed up with his father, Arun Muralidhar, the chairman and founder of Mcube Investment Technologies, which develops decision-support products for institutional investment managers. "They themselves are investing globally to make sure that their brand is increasing, and they found great success with that."
Persons: , Sid Muralidhar, Muralidhar, Risktyle, Arun Muralidhar, Sachin Muralidhar, Sachin, Arun, Sid Muralidhar Sid Muralidhar, homed, it's Organizations: Service, NFL, Dallas Cowboys, Forbes, Business, Investments, Wealth, NHL, Citigroup, Mcube Investment Technologies, The University of Virginia, National Hockey League, NBA, MLB, BI
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia's small- and mid-cap stock rally: Be selective, says Kotak Institutional EquitiesSanjeev Prasad of Kotak Institutional Equities says lower-quality stocks have led the rally.
Persons: Sanjeev Prasad
That's not to say predictions of a commercial real estate rebound are a sure bet. Here are four signs that support Gray's prediction that the commercial real estate market may be bottoming. (New York Community Bank had previously purchased $2.7 billion in Signature's loans and deposits, but not the real estate loans.) According to David Seifert, partner at private equity real estate firm Velocis, there are some sweet deals to be had in secondary sales of private-equity funds tied to real estate. The road aheadWhere Gray sees signs of bottoming, others think commercial real estate has much further to fall.
Persons: Warren Buffett, Buffett, Paul Getty, Getty, Steve Mnuchin —, Blackstone, Mnuchin, Donald Trump's, George Soros, John Paulson, It's, Jonathan Gray, Jim Garman, That's, Barry Sternlicht, Gray, Tracy Chen, Chen, BGO, secondaries There's, Ares, Brian King, King, David Seifert, Seifert, Velocis, Goldman Sachs, Dan McNamara, McNamara, Scott Rechler, wallop, Janet Yellen, Rechler, there's Organizations: Business, Goldman, Reuters, Starwood, Brandywine Global, Federal Reserve, . Bank, New York Community Bank, FDIC, Signature Bank, Community Bank, Fund Management, Community Preservation, New, Commercial Observer, Blackstone, Homes, Digital Realty, Polpo, RXR Locations: Blackstone, , New York, New York, BREIT, Real, Velocis
He acted out, showing up to the "Drake & Josh" set late and hungover. "If I'm going to tell my story, this is how it was supposed to be told," Drake Bell, pictured here at his studio in Mexico City, recently told BI. In the second season, Brian Peck (who is unrelated to Bell's "Drake & Josh" costar Josh Peck) joined as a dialogue coach. Bell told BI that Nickelodeon "was a factory," treating child actors like kings one day only to throw them to the curb the next. Bell told BI that, in some ways, his music and the docuseries serve the same purpose.
Persons: Drake Bell, Drake, Josh, tweens, Dan Schneider, Bell, Brian Peck, Peck, Schneider, he's, he'd, Robin Dodson, Joe Bell, bro Totally Kyle, Tony, Ana Topoleanu, Amanda, Josh Peck, Kenan, Kel, Leonardo DiCaprio, Bryan Singer, James Marsden's, Tom DeSanto, Dan, Bell's, worrisome, Joe, hadn't, Gary Livingston, I'd, Dodson, I'm, heartthrob, James Marsden, Alan Thicke, Strong, Lynne Murphy, Penn Badgley, Forrest Gump, Will Friedle, Brian, Friedle, I've, don't, spiraled, He'd, Janet Von Schmeling, Von Schmeling, Jennette McCurdy, Amanda Bynes, Aaron Carter, Emma Schwartz, Jaime Nogales, Singer, Pan, Mary Robertson, Kate Taylor Organizations: Nickelodeon, Business, Kids, Maxine Productions, Sony Pictures, Bell, Daytona Beach Police Department, Getty, Los Angeles Police Department, Ford, Hollywood, BI, Disney, Netflix, US, Cleveland, The New York Times, Times, Daily Mail, Orlando, Pan Am, & $ Locations: Mexico City, Newport Beach , California, Bell, Hollywood, Orange, Los Angeles, Valley Glen, Angeles, Los Feliz, San Diego, Feliz, Glendale , California, Mexico, California, Ohio, Florida, pompadour
TikTok: Is it really Chinese?
  + stars: | 2024-03-18 | by ( Laura He | ) edition.cnn.com   time to read: +8 min
Is TikTok Chinese? In March 2023, CEO Chew was repeatedly pressed by US lawmakers on whether TikTok was Chinese. According to TikTok’s own website, its subsidiaries around the world are all structured under Bytedance Ltd.Is ByteDance Chinese? At last year’s congressional hearing, Chew didn’t directly answer any questions about whether ByteDance is a Chinese company either. That means the Chinese government now owns 1% of Beijing Douyin Information Service, which is the domestic Chinese unit of Bytedance.
Persons: TikTok, Shou Chew, Trump, Chew, Jose Luis Magana, Musical.ly, TikTok’s, ByteDance, Zhang Yiming, Liang Rubo, Zhang, Liang, Jinri, Chew didn’t, Shannon Stapleton, Zhang Fuping, Xi Jinping, Wu Shugang, Shu Yuting Organizations: Hong Kong CNN, TikTok LLC, TikTok Ltd, ByteDance Ltd, Bytedance Ltd, Tianjin’s Nankai University, ByteDance, Carlyle Group, General Atlantic, Susquehanna International Group, Reuters, Communist, Cyberspace Administration, Beijing Douyin Information Service, Chinese Communist Party, National Intelligence Law, Commerce Ministry Locations: China, Hong Kong, United States, Beijing, California, Los Angles, Singapore, Delaware, Culver City , California, Cayman Islands, Shanghai, Chinese, TikTok
Some current and former CIA officers have raised concerns that a CIA task force in charge of investigating Havana syndrome soft-pedaled its investigation, CNN has previously reported. The control group was small and not perfectly matched to those with Havana syndrome. In the second study, researchers tested hearing, balance, eyesight and neuropsychological state, and they looked at blood biomarkers, in the two groups. Headache was a common concern among the participants with Havana syndrome. The study concluded that whatever caused Havana syndrome seems to create symptoms “without persistent or detectable physiologic changes.
Persons: David Relman, don’t, ” Relman, , AHIs, Relman, Trump, , Dr, Sanjay Gupta, ” Dr, Leighton Chan Organizations: CNN, National Institutes of Health, Stanford, CIA, AHIs, CNN Health, NIH Locations: Havana, Cuban, Bogota, Colombia, Vienna, Austria
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Close to three months later, the electric carmaker holds a much less enviable title — it's the S&P 500's biggest loser year-to-date. Tesla shares have plummeted about 30% year-to-date, wiping about $230 billion off the company's value. AdvertisementThe gap was even wider at the end of last week, but Tesla shares were up almost 6% on Monday. AdvertisementNelson also believes Tesla could become the world's biggest auto manufacturer — but others don't share his optimism.
Persons: , Tesla, Elon, BYD, That's, Seth Goldstein, Goldstein, Refinitiv, Garrett Nelson, Nelson, Wells, Ross Gerber, who's Organizations: Elon, Service, Boeing, Alaska Airlines, MAX, Elon Musk's, North, Fox Business Locations: Elon Musk's, North America, Europe
Four of investors' top five favorite destinations are in Europe, according to the Milken Institute's Global Opportunity Index (GOI) report. The country ranked fifth in the financial services category, which evaluates the overall financial system in a nation as well as the accessibility to finance. Among Asian E&D economies, Malaysia emerged as investors' favorite and ranked 27th globally. Overall, E&D regions "offer attractive opportunities to investors interested in emerging markets with favorable growth potential," the report said. Rising tensions between the U.S. and China, however, have hit inflows to Asian E&D economies, down 75.4% in 2022, the report added.
Persons: Maggie Switek, Switek Organizations: New York Stock Exchange, Milken, Denmark, Denmark Sweden Finland United States United, The Milken Institute, The New York Times, U.S Locations: New York, Europe, Denmark, Denmark Sweden Finland United States United Kingdom, U.S, Finland, Asia, Malaysia, China
Cohen, 46, will join Cloudflare, a San Francisco-based technology company aimed at helping businesses improve their internet security and performance. It will be a familiar role, as she served as Goldman's strategy chief from 2018 to 2020. Having spent 20 years inking deals within Goldman Sachs' investment banking unit, Cohen is no stranger to the boardroom. "But the reality is, Goldman Sachs is not a technology firm," Cohen said. When she broke the news to Argenti, he told her, 'This is exactly what you should do… this is exactly the right company," Cohen recalled.
Persons: Stephanie Cohen, Cohen, " Cohen, David Solomon, Goldman, Beth Hammack, Cloudflare, Solomon, John Waldron, Matthew Prince, Michelle Zatlyn, Goldman Sachs, it'll, Lloyd Blankfein, Brendan McDermid, Reuters Cohen, they're, I, Stephanie, Prince, she'll, Marco Argenti Organizations: Business, Cloudflare, IBM, University of Illinois, Goldman, Reuters, Financial Times Locations: San Francisco, Utah, Urbana, Champaign
The narrative on bitcoin is still bullish, though commentators see more volatility ahead. Bernstein analysts wrote this week that the rally firms up their view that bitcoin is on track to hit $150,000 by mid-2025. Here's what some of the market's top commentators have said about the outlook for the world's most popular cryptocurrency. Related stories"We built bitcoin institutional flows in our estimates to arrive at bitcoin price. Saylor said that following the bitcoin halving in April, dwindling supplies would continue to fuel demand, propelling the price momentum even higher, saying "the natural sellers are the miners."
Persons: Bitcoin, Bernstein, , Kris Marszalek, Gautam Chhugani, Mahika Sapra, Michael Novogratz, Jamie Dimon, He's, Michael Saylor, Saylor Organizations: Service, CNBC, Galaxy, Galaxy Digital, Wednesday, JPMorgan JPMorgan, Australian Financial
Steve Mnuchin breaks out the checkbook
  + stars: | 2024-03-15 | by ( Elisabeth Buchwald | ) edition.cnn.com   time to read: +7 min
Mnuchin rebornNine months after President Joe Biden was inaugurated and Mnuchin left the Treasury Building, Mnuchin formed a new private equity group, Liberty Strategic Capital. Steven Mnuchin's private equity firm made a $450 million investment in New York Community Bank last week. When Mnuchin left CIT less than two years later, he received a $10.9 million severance package. “It’s a great business and I’m going to put together a group to buy TikTok,” Mnuchin told visibly stunned anchors on CNBC Thursday morning. Mnuchin may be the founder and managing partner of Liberty Strategic Capital, but Saudi Arabia is reportedly covering a big chunk of his firm’s tab.
Persons: Donald Trump’s, Steven Mnuchin, Mnuchin, Joe Biden, Jackie ”, Trump, Goldman Sachs, , Liberty, Steven Mnuchin's, Spencer Platt, “ It’s, ” Mnuchin, “ You’re, ” Andrew Ross Sorkin, ” interjected, TikTok, , he’s, Will Lanzoni, Crown Prince Mohammed bin Salman Organizations: New, New York CNN, Treasury, Liberty Strategic Capital, Lionsgate, New York Community Bank, Getty, Federal Deposit Insurance Corporation, CIT Group, CIT, CNBC, CNN, Senate, Liberty Strategic, Crown, New York Times, Saudi Public Investment Fund, Meta, ByteDance . Liberty Strategic Locations: New York, cybersecurity, New, California, China, Montana, Saudi Arabia, Saudi, ByteDance
South Korea's financial regulator will look at speeding up the corporate reforms proposed last month and could reportedly add newer measures, after market players voiced concerns the steps might not be enough to tackle the so-called "Korea discount." The Financial Services Commission held a meeting on Thursday with domestic institutional investors and the country's pension fund, where vice chairman Kim So-young said the schedule for the reforms announced earlier would be speeded up, according to a Reuters report. "We will do our best to announce and implement before the previously planned schedule, as the market's expectations are high." In a statement issued after the meeting, the FSC said that establishing transparent markets, making capital market more accessible and pushing for shareholder returns to boost South Korea's undervalued stock markets. The regulator said it would also encourage institutional investors to "actively communicate with companies about the need to take voluntary measures to enhance valuations."
Persons: Kim So Organizations: Financial Services Commission, FSC Locations: Korea
Read previewProductivity for many companies is soaring — all thanks to the "Big Stay." AdvertisementThere are a couple of reasons workers have shifted to the Big Stay, Glassdoor Chief Economist Aaron Terrazas told Business Insider. The US economy added 275,000 jobs last month, but the job market recovery from the pandemic is slowing. The Big Stay has benefits, but they may be short-livedTerrazas said lower quit rates are giving way to high productivity across companies. At the same time, job openings have tumbled since post-pandemic highs, forcing a lot of workers to stay in their roles.
Persons: , Aaron Terrazas, Terrazas, It's Organizations: Service, Companies, Bureau of Labor Statistics, Business, Employees, The Conference Board, Labor Statistics, Federal
"It's section 1250 in the tax code, and that tax rate is 25% at the federal level, regardless of whatever marginal income tax bracket you're in." In addition to owing capital gains tax on the $500,000 of appreciation they experience, they're also subject to depreciation recapture tax. As a DST investor, you essentially own fractions of the investment properties, typically high-grade institutional properties, owned by the trust. A step-up in basis can reduce or eliminate capital gains taxesA "step-up in basis" can help heirs reduce or even eliminate capital gains taxes. That means, if the surviving spouse wants to sell, they can save big on capital gains taxes.
Persons: , Austin Bowlin, they're, Bowlin, aren't Organizations: Service, Real, Business, IRS, Midwest, Investors Locations: Delaware, Texas, Arizona , California , Idaho , Louisiana , Nevada , New Mexico , Texas, Washington, Wisconsin
The US just experienced the warmest "meteorological winter" on record, NOAA said last week. It also led to unpredictable consumer demand, causing headaches for retailers and other businesses. For Dick's, warmer weather means that sales skew toward lightweight fleeces rather than pricier down parkas, she said. A retailer in South Dakota surveyed by the Federal Reserve said that even though the warmer weather led to higher foot traffic, sales of winter gear and equipment fell. AdvertisementFrom major complications to minor inconveniences, it's looking like this winter could be a preview of what's to come thanks to the climate crisis.
Persons: Lauren Hobart, Hobart's, didn't, Hal Lawton, Lawton isn't, Raymond James, Lowe's, Marvin Ellison, Bill Boltz, Wisconsin's Organizations: NOAA, Service, National Oceanographic, Atmospheric Administration, Sporting, Tractor, Co, Raymond, Raymond James Institutional Investors, Federal Reserve, Climate Central Locations: NOAA's, East, Midwest, South Dakota
Michael Saylor, chairman and CEO of MicroStrategy, speaks during the Bitcoin 2022 conference in Miami on April 7, 2022. Saylor told CNBC's "Squawk Box" on Monday that bitcoin is going to "eat gold." "The price of bitcoin is going to have to adjust up in order to meet that investor demand," Saylor said. MicroStrategy said in the release that it "used the net proceeds from the sale of the notes to acquire additional bitcoin." As of Monday, Canaccord's analysis showed that MicroStrategy's equity value premium over its bitcoin holdings was 86%.
Persons: Michael Saylor, Saylor, CNBC's, bitcoin, MicroStrategy, Canaccord, MicroStategy Organizations: MicroStrategy, BTC, CNBC Locations: Miami, bitcoin
Relative to bitcoin , the initial price action following the upgrade is even weaker historically, with ether underperforming 80% of the time in the first 20 days, Saunders added. Saunders warned, however, that the trading environment for crypto is different today than it was during previous Ethereum network upgrades. The scalability problem Dencun follows the "Shapella" upgrade from almost a year ago, which allowed investors to withdraw their staked ether from the network for the first time. This upgrade is focused on the longer-term goal of enhancing Ethereum's ability to handle more activity and transactions as the network grows. "The Dencun upgrade serves as an important step in addressing this congestion, which hurts users and developers alike."
Persons: Alex Saunders, Saunders, Philipp Zentner, bitcoin –, Duncan Ash, Michael Bloom Organizations: BTC, Citi, ETH, Metrics, Securities and Exchange Commission Locations: U.S
Ark Invest — which has a particular focus on innovation — is invested in segments including autonomous vehicles, drones and robotics, energy storage, 3D printing, and space exploration through its Ark Autonomous Tech & Robotics ETF (ticker ARKQ). Autonomous cars: A $28 trillion opportunity Autonomous cars is one area related to AI that Keeney is "particularly excited about." "Autonomous cars are already driving in major cities today across the globe. Autonomous drones: A 'very hot topic' Beyond automakers, Keeney is looking to ride the autonomy wave through opportunities in drones. Keeney emphasized that drone technology can transcend military use cases and be applied across industries.
Persons: Tasha Keeney, CNBC's, Tesla, Keeney, Organizations: Ark Autonomous Tech, Robotics ETF, Invest, Defense, Security Solutions, Walmart, Google Locations: Mar
CNBC Daily Open: Conflicting signals on U.S. jobs market
  + stars: | 2024-03-11 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. China warns property developersChina's housing minister signaled real estate developers must go bankrupt if required and won't get a major bailout. Minister of Housing and Urban-Rural Development Ni Hong also warned that those who "harm the interests of the masses" will be punished. India's 'watershed' FTAIndia signed a 'watershed' $100 billion free trade deal that will remove most tariffs with four non-EU nations.
Persons: Hong, Piyush Goyal, Tony Fernandes, Tasha Keeney Organizations: CNBC, Nikkei, CSI, Nasdaq, Dow, Housing, India, EU, Commerce, Industry, AirAsia Locations: Asia, Japan, China, Malaysian
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