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☆ Celebrities like Ryan Reynolds and Gwyneth Paltrow are flocking to LinkedIn to show off their business acumen
▼ + stars: | 2023-07-11 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

LinkedIn is a professional social media platform for normies, but now celebrities want in too. Stars like Ryan Reynolds and Gwyneth Paltrow are showing off their business side on the platform. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Reynolds's posts include promoting Mint Mobile and his other business ventures, such as ownership of Welsh soccer team Wrexham. He's not the only celebrity to do so with Mindy Kaling, Jennifer Lopez, and Gwyneth Paltrow also making an effort to blend into the professional world of LinkedIn.

Persons: Ryan Reynolds, Gwyneth Paltrow, Reynolds, I've, He's, Mindy Kaling, Jennifer Lopez, they've, Jenna Drenten, influencers, Richard Burton, Mark Borkowski, Daniel Roth, there's, Amobi Okugo, Raphaël Varane, Okugo Organizations: Service, LinkedIn, Mint Mobile, Mobile, Street, Welsh, Welsh soccer, Wrexham, Social, Twitter, Chicago's Quinlan School of Business, Financial Locations: Wall, Silicon

☆ PGA official pledges golfers will be able to criticize Saudi Arabia if the tour merges with the Saudi-backed LIV Golf
▼ + stars: | 2023-07-11 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

A top PGA official said golfers would still be able to criticize Saudi Arabia if the tour merges with LIV Golf. Blumenthal also accused the PGA of selling out to the controversial Saudi league. Blumenthal pointed to the fact that initial agreement between the PGA and LIV Golf has a broad non-disparagement clause. Blumenthal cited this record in calling out the PGA for selling out for the LIV merger. He and PGA Tour member Jimmy Dunne, who helped broker an initial agreement with LIV Golf, also repeatedly stressed that the PGA felt it had little choice but to try to find as peace with LIV.

Persons: LIV Golf, Democratic Sen, Richard Blumenthal, Blumenthal, Ron Price, Price, Sen, LIV, Prince Mohammed bin Salman, Jamal Khashoggi, Khashoggi, Jimmy Dunne, Ron Johnson, Johnson Organizations: Democratic, Saudi, Service, PGA, Connecticut Democrat, Public Investment Fund, FIFA, Amnesty, MBS, Washington, Wilson, Republican Locations: Saudi Arabia, Wall, Silicon, of Saudi Arabia, Saudi, Qatar

☆ PGA officials say they had no choice but to reach deal with the Saudis
▼ + stars: | 2023-07-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Two top officials of the PGA Tour said the sport’s governing body had no choice but to reach a truce in its yearlong battle with LIV Golf and try to reach a merger with the Saudi-funded tour. But Ron Price, the chief operating officer of the PGA Tour, and Jimmy Dunne, a board member of the tour’s governing body, both said that the framework of the planned merger was the best chance to allow the PGA Tour to keep some measure of control over the sport. He pointed out that the Saudi Public Investment Fund, which is funding LIV Golf, has 500 times the financial resources as the PGA Tour. “It would be grossly unfair to expect the PGA Tour to bear the full burden of holding Saudi Arabia accountable. The committee released a 276 page report with details of the legal battle and the negotiations between LIV and the PGA Tour.

Persons: LIV Golf, “, ”, Richard Blumenthal, Ron Price, Jimmy Dunne, Sen, ” Dunne, LIV, Price, Ron Johnson of, it’s, ” Johnson, Blumenthal, Roger Devlin, Dunne, ” Blumenthal, “ It’s, … Organizations: New, New York CNN, PGA Tour, Saudi, PGA, Connecticut Democrat, Republican, Saudi Public Investment Fund, Saudi Public Investment, ” Locations: New York, Saudi, American, Connecticut, Ron Johnson of Wisconsin, Saudi Arabia, British, “

☆ Ticketmaster has a total stranglehold on the live event industry. Here's how some states are trying to break that.
▼ + stars: | 2023-07-10 | by ( Madison Hall | ) www.businessinsider.com time to read: +8 min

Rafael Henrique/SOPA Images/LightRocket via Getty ImagesA California legislator is trying to strike back at Live Nation Entertainment's grip on the live events space. It was actually the ticket-buying experience for a minor-league hockey game that could lead to a large legislative setback for Live Nation Entertainment. The extent of Live Nation Entertainment's graspIn June, the American Economic Liberties Project released a report detailing the extent of the stranglehold Live Nation Entertainment has on the live events industry. Brown explained to Insider that Live Nation Entertainment has been able to become so powerful in the industry as it's vertically integrated very effectively. Live Nation Entertainment is under federal pressureThe federal government is also cracking down on Ticketmaster's reign in the entertainment industry.

Persons: Rafael Henrique, California Sen, Scott Wilk, Sen, wasn't Taylor, Wilk, Pat Garafolo, Krista Brown, Brown, Joe Biden, Samuel Corum, Amy Klobuchar, Richard Blumenthal, Klobuchar, It's, Blumenthal Organizations: Getty, California State Senate, Service, Nation Entertainment, Ticketmaster, California Senate, American Economic Liberties, Entertainment, Department of Justice, DOJ, Federal Trade Commission, Live, New York Times, Live Nation Entertainment Locations: California, Wall, Silicon, United States, AFP, Minnesota

☆ PGA Tour defends LIV Golf deal ahead of Senate hearing
▼ + stars: | 2023-07-10 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

Streeter Lecka | Getty ImagesThe PGA Tour has begun its public defense of its deal with Saudi-backed LIV Golf ahead of a key Senate hearing slated for this week. "Given the well-chronicled legal disputes that have existed between the PGA Tour and PIF, we understand the fair and valid questions raised by PGA Tour members, Tour partners, media, fans and now Congress," Price said in the op-ed. Stephenson stepped down as lawmakers appeared likely to start a broad probe into the merger between the PGA Tour and LIV, beginning with Tuesday's Senate hearing. Defending the dealLast month, the PGA Tour and PIF's LIV Golf, as well as Europe's DP World Tour, agreed to merge. The majority of the board that leads the PGA Tour Enterprises will be appointed by the tour and run by Monahan.

Persons: Streeter Lecka, LIV Golf, Ron Price, Price, Randall Stephenson, Stephenson, LIV, Sen, Richard Blumenthal, Ron Johnson, Jay Monahan, Jimmy Dunne, Monahan, Richard Heathcote, Rory McIlroy — Organizations: THE, Sawgrass, Saudi, Athletic, Monday, PGA, PGA Tour, AT, Senate, Senate Homeland Security, Investigations, Saudi Public Investment Fund, Getty, Saudi Arabia Public Investment, PIF Locations: Ponte Vedra Beach , Florida, Saudi, United States, Monday's

☆ Analysis: Why Ukraine's plea for NATO membership is such a profound dilemma for the West
▼ + stars: | 2023-07-10 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

The president said that the alliance needed to lay out a “rational path” for Ukraine’s membership but that it was still short of some requirements for joining, including over democratization. NATO membership would also boost Ukraine’s bid to cement a democracy that was vulnerable before the war and fulfill the desire of many of its people to join the West. Lindsey Graham, a South Carolina Republican, and Richard Blumenthal, a Connecticut Democrat, last week introduced a resolution calling for a roadmap to Ukraine’s NATO membership as soon as it is practicable. “Guaranteeing Ukraine’s security would erode US security by increasingly the risk, obviously, of war with Russia,” he said. Even if Biden were to amend his position on accelerating NATO membership for Ukraine, he cannot ensure a successor would honor treaty obligations.

Persons: Joe Biden, Biden, ” Biden, CNN’s Fareed Zakaria, Volodymyr Zelensky, Vladimir Putin, ”, –, Putin, stiffen, Lindsey Graham, Richard Blumenthal, “, We’re, Michael McCaul, Ben Friedman, ” Friedman, Donald Trump, Zelensky Organizations: CNN, NATO, Ukrainian, ABC News, Kremlin, Warsaw, South Carolina Republican, Connecticut Democrat, Ukraine, GOP Rep, House Foreign Affairs Committee, Texas Republican, Defense, American, Soviet, Russia Locations: Europe, Ukraine, Moscow, Russia, Lithuania, Eastern Europe, Poland, Hungary, Romania, Baltic, Latvia, Estonia, Soviet Union, Bucharest, Sens, Connecticut, Russian, United Kingdom, “ State, Western Europe, Israel, Taiwan, United States, Eastern

☆ The European Space Agency jokingly asks Mark Zuckerberg if he will start making rockets like Elon Musk after Threads launch
▼ + stars: | 2023-07-07 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

The European Space Agency joined in on the jokes around Wednesday's launch of Threads. In a post tagging Mark Zuckerberg, the ESA said: "Do you want to start making rockets?" The European Space Agency joined in on all the memes and jokes around Wednesday's launch of Threads – the new Twitter competitor app from Meta. The account, which currently has 122,000 followers on the new app, tagged Mark Zuckerberg in a post that asked: "Do you want to start making rockets?" Either way, the space agency is one of the first companies to gain attention on Threads.

Persons: Mark Zuckerberg, Elon Musk, Zuckerberg, Jeff Bezos, Richard Branson, TikTok Organizations: European Space Agency, ESA, Meta, Musk's SpaceX

☆ We have to separate A.I. story from the investment opportunity, says CEO Richard Bernstein
▼ + stars: | 2023-07-06 | 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 EmailWe have to separate A.I. story from the investment opportunity, says CEO Richard BernsteinRichard Bernstein, Richard Bernstein Advisors CEO, joins 'Squawk on the Street' to discuss rising Treasury yields, strategies for investing in AI stocks, and how a strong dollar could hurt international investment returns.

Persons: Richard Bernstein Richard Bernstein, Richard Bernstein

☆ Lazard, facing a dealmaking drought, is on a mission to boost its money management business. It won't be easy.
▼ + stars: | 2023-07-06 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +11 min

The group extends guidance on geopolitical matters to clients as well as colleagues, like the asset management arm's sprawling salesforce. The firm is making a series of changes to ramp up its asset management business. Lazard has had an asset management business for decades, but it's a business that's finding new relevance on Wall Street. Incoming Lazard CEO Peter Orszag, pictured here in May, has made improving the asset management business a priority. "When it comes to the asset management business, the picture is probably more blurry," said Richard Bruyère, managing partner of the Paris-based asset management advisory firm Indefi.

Persons: Lazard, Evan Russo, Yevgeny Prigozhin, Peter Orszag, Barack Obama, Bill Clinton, it's, Russo, Orszag, Ray McGuire, Jennifer Ryan, Goldman Sachs, Brennan Hawken, Richard Bruyère, Bruyère, Ryan, Hartley, Morgan Stanley, Janus Henderson, Ashmore, Devin Ryan, AllianceBernstein, Larry Cohen, " Russo, Peter Organizations: Lazard, BlackRock, Citi, New York, North, Incoming Lazard, REUTERS, UBS, Investors, Firms, Virtus, Liontrust, Bank's JMP Securities Locations: Russia, New York, Washington, North America, Paris, Taft, Asia

☆ Taliban compounds misery for women in Afghanistan with order to close all beauty salons
▼ + stars: | 2023-07-05 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +4 min

The impending closure of beauty salons further diminishes the freedom of women and delivers a harsh economic blow to families who rely on them for income. An Afghan beautician attends to a customer at a beauty salon in Mazar-i-Sharif on June 27, 2023. My husband is jobless and this beauty salon is the only means to feed my family. “I don’t understand why beauty salons should be banned. According to their report, women are banned from working in most sectors outside the home, and are prohibited from attending public baths, parks, and gyms.

Persons: Mohammad Sidik Akif, Afghan beautician, Sharif, “, ”, Richard Bennett, Dorothy Estrada, Tanck, they’re, who’ve, Markus Potzel, Afghanistan’s “ Organizations: CNN, Ministry, United Nations, Getty, UN Locations: Afghanistan, United States, Afghan, Mazar, AFP, Kabul

☆ A new Texas law forces vendors to rate sexual content in schoolbooks. They’re not happy about it
▼ + stars: | 2023-07-04 | by ( Nadia Bidarian | ) edition.cnn.com time to read: +10 min

But a new Texas law might require her to. The law’s primary author, Republican Texas State Rep. Jared Patterson, said its aim is simple: Get sexually explicit content out of schools. Republican Texas State Rep. Jared Patterson debates HB 900, which would ban sexually explicit materials from library books in schools. Mikala Compton/Austin American-Statesman/APBut the burden of rating these books falls on book vendors. The law also applies retroactively to books sold to schools in the past, meaning that vendors must issue recalls for “sexually explicit” books still in circulation.

Persons: Charley Rejsek, they’d, “ We’re, ” Rejsek, Jared Patterson, Mikala Compton, “ We’ve, “, ” Patterson, ”, Shirley Robinson, ” Robinson, Ben Conn, Conn, Noble, ” Conn, wasn’t, Patterson, Valerie Koehler, Mary Cate Stevenson, Noah Nofz Koehler, doesn’t, she’s, ” Koehler, Noah Nofz Richard Bailey, Greg Abbott, Bailey, ” Bailey, Lewis Parry, ” Elizabeth Jordan, ’ Patterson, ” Jordan, can’t, Jordan Organizations: CNN, Republican Texas State, Austin American, Statesman, Resources, ”, Texas Library Association, Media Association, Barnes, Penguin, Library Company, Education, Willow, Interabang, Dallas County, Lewis Parry Interabang, Nowhere, Texas Education Agency Locations: Texas, Austin, ”, Houston, Houston , Texas, Dallas, Dallas , Texas, San Antonio

☆ Branson, Virgin Group reputations at centre of $250 mln London court clash
▼ + stars: | 2023-07-03 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

LONDON, July 3 (Reuters) - British billionaire Richard Branson severely damaged Virgin Group's reputation by residing in a tax haven while UK-based airline Virgin Atlantic sought a government bailout during the pandemic, according to internal Virgin emails cited in a $250 million London lawsuit on Monday. The emails were cited by lawyers for U.S. train operator Brightline, which is being sued by the Virgin Group after cancelling a deal to use the Virgin brand in 2020, just over 18 months after it was signed. Under the deal Brightline operated a rail line in Florida using the name Virgin Trains USA. Brightline's lawyers cited internal Virgin Group emails describing group founder Branson being based in the British Virgin Islands for tax purposes as "a reputation killer", while one email from an external public relations adviser said: "Richard needs to show he's not a ruthless, tax-evading billionaire." In an April 2020 email, Virgin Group CEO Josh Bayliss referred to Branson's tax residency in relation to the request for a bailout, saying: "Richard cannot escape the criticism.

Persons: Richard Branson, Brightline, Branson, Richard, Josh Bayliss, Daniel Toledano, Virgin Atlantic's, Brightline's, Nigel Tozzi, Sam Tobin, Susan Fenton Organizations: Virgin Atlantic, U.S, Virgin Group, Virgin, Virgin Trains, British Virgin Islands, Real Madrid, Thomson Locations: Florida, British Virgin, Britain, United States, Barcelona, Bay

☆ 2 top PGA officials will testify before Congress about the golf league's controversial merger with the Saudi-backed LIV tour
▼ + stars: | 2023-07-03 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Two top PGA officials will testify before Congress about the association's controversial merger. Tour COO Rob Price is among the officials that will testify before a Senate subcommittee on July 11. "We look forward to appearing before the Senate Subcommittee to answer their questions about the framework agreement that keeps the PGA TOUR as the leader of professional golf's future and benefits our players, our fans, and our sport," PGA Tour spokesperson Joel Schuchmann said in a statement to Insider. Norman played an integral role in LIV golf, enduring public criticism for taking on the PGA and partnering with Al-Rumayyan. "In fact, prior to this agreement, PGA Tour was one of the loudest critics of LIV Golf's affiliation with Saudi Arabi."

Persons: Rob Price, Democratic Sen, Richard Blumenthal, —, LIV, Sen, Ron Johnson, Jimmy Dunne, Joel Schuchmann, Blumenthal, Johnson, bin Othman Al, Greg Norman, Norman, Chris Murphy, Jay Monahan, LIV Golf's, Tiger Woods, Woods Organizations: Democratic, Service, Capitol, Republican, PGA, Al, LIV, Saudi, Connecticut Democrat, Twitter Locations: Saudi, LIV, American, Connecticut, Saudi Arabi

☆ Two PGA tour officials to testify to US Senate panel about merger with Saudi-backed LIV
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] May 25, 2023; Washington, DC, USA; Patrick Reed hits his tee shot on the ninth hole during the Pro-Am tournament as part of the LIV Golf Washington D.C. 2023 event at Trump National Golf Club outside Washington DC. Mandatory Credit: Geoff Burke-USA TODAY Sports/File PhotoWASHINGTON, July 3 (Reuters) - Two PGA Tour officials have agreed to testify before a U.S. Senate panel next week about the tour's merger with Saudi-backed LIV Golf, but LIV officials declined to appear, lawmakers said on Monday. The PGA Tour, DP World Tour and rival Saudi-backed LIV circuit, which had been involved in a bitter fight that split the sport, announced an agreement in early June to merge and form a unified commercial entity. The LIV Golf series is bankrolled by the Saudi Arabia Public Investment Fund (PIV). Blumenthal and Johnson said they had asked Greg Norman, CEO of LIV Golf, and Yasir al-Rumayyan, governor of the Saudi Public Investment Fund which backs LIV, to testify, but they had declined because of scheduling conflicts.

Persons: Patrick Reed, Geoff Burke, LIV Golf, LIV, Ron Price, Jimmy Dunne, Richard Blumenthal, Ron Johnson, Critics, Blumenthal, Johnson, Greg Norman, Yasir al, Norman, Diane Bartz, Jonathan Oatis, Leslie Adler Organizations: LIV Golf, Trump National Golf Club, Washington DC, USA, WASHINGTON, Senate, Saudi, PGA Tour, Investigations, Saudi Arabia Public Investment Fund, PGA, Saudi Public Investment Fund, Public Investment Fund, Thomson Locations: Washington, DC, USA, LIV Golf Washington, Saudi

☆ Opinion: The cavalry won’t be coming to rescue you in space
▼ + stars: | 2023-06-30 | by ( Opinion Leroy Chiao | ) edition.cnn.com time to read: +6 min

CNN —As the world grapples with the implosion of the Titan submersible, commercial space companies are pressing ahead with plans to offer short hop adventures beyond the skies. Another company, Blue Origin, founded by Jeff Bezos, already has flown several paying customers to suborbital space. Visitors to suborbital space will also experience microgravity and the beautiful view of the Earth from space. The answer is I might have – if I had the financial means and had not already had my NASA spaceflight experiences. The key thing for any would-be passenger planning to board commercial vehicles to space or in the ocean is informed consent.

Persons: Leroy Chiao, Richard Branson’s Virgin, Jeff Bezos, SpaceX’s, I’ve Organizations: OneOrbit, NASA, Russian Soyuz, International Space, Safety, SpaceX, Council, White, Spaceflight, CNN, Titan, Italian Air Force, Virgin Galactic, Boeing, Federal Aviation Administration, FAA, Twitter, Facebook Locations: Russian

☆ Live updates: Virgin Galactic completes first commercial spaceflight
▼ + stars: | 2023-06-29 | by ( Michael Sheetz | ) www.cnbc.com time to read: +1 min

People react as the passenger rocket plane operated by Virgin Galactic takes off, during the company's first commercial flight to the edge of space, at the Spaceport America facility, in Truth or Consequences, New Mexico, U.S., June 29, 2023. Space tourism company Virgin Galactic , founded by Sir Richard Branson in 2004, completed its long-awaited first commercial spaceflight, called "Galactic 01," on Thursday. The three paying passengers are members of the Italian Air Force. Virgin Galactic's start to commercial service comes after years of delays and setbacks. Virgin Galactic has a backlog of about 800 passengers.

Persons: Sir Richard Branson, Virgin Galactic's Organizations: Virgin Galactic, America, Space, Italian Air Force, Virgin, VSS Unity Locations: New Mexico, U.S

The flight marks a decisive moment for Virgin Galactic Holding Inc (SPCE.N), the space tourism venture founded by British billionaire Richard Branson in 2004, as it inaugurates commercial service following several years fraught with development setbacks. Rounding out the crew was their Virgin Galactic trainer, Colin Bennett, the company's lead "astronaut instructor," and Unity's two pilots, Michael Masucci and Nicola Pecile. A final crewed test flight to space was conducted with little fanfare five weeks ago. Virgin Galactic has said it has already booked a backlog of some 800 customers, charging from $250,000 to $450,000 per seat, and envisions eventually building a large enough fleet to accommodate 400 flights annually. An earlier prototype of the Virgin Galactic rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another.

Persons: Richard Branson, Jeff Bezos's, Elon Musk's, Walter Villadei, Angelo Landolfi, Pantaleone, Colin Bennett, Michael Masucci, Nicola Pecile, Branson, Bezos, Shepard rocketship, Jose Luis Gonzalez, Steve Gorman, Will Dunham Organizations: Virgin Galactic, National Research Council, Italy, Virgin Galactic Holding Inc, Virgin, Elon Musk's SpaceX, Italian Air Force, VSS Unity, International Space, Air Force, America, Unity, NASA, U.S . Air Force, Thomson Locations: New Mexico, Italy, British, Italian, Los Angeles

☆ Virgin Galactic launches first paying customers to the edge of space
▼ + stars: | 2023-06-29 | by ( Jackie Wattles | ) edition.cnn.com time to read: +7 min

CNN —Virgin Galactic, the venture founded by British billionaire Richard Branson, successfully launched its first paying customers to the edge of space — a milestone two decades in the making. (Future Virgin Galactic flights, however, are expected to include a range of high-profile customers.) Bennett’s role was to assess the comfort and function of the flight, using that information to inform future changes Virgin Galactic might make to its rocket-powered space plane, VSS Unity. Organizations such as NASA have routinely flown experiments on suborbital rockets, including Virgin Galactic and Blue Origin missions. In a tragic 2014 accident, Virgin Galactic’s space plane broke apart during flight, killing the mission’s copilot, Michael Alsbury.

Persons: Richard Branson, Virgin Galactic’s, Jeff Bezos’s, Walter Villadei, Angelo Landolfi, Colin Bennett, Pantaleone, Branson, Burt Rutan, Paul Allen, Hamish Harding, Michael Alsbury, — Organizations: CNN, Virgin Galactic, Italian Air Force, Virgin, SpaceX, Italy’s National Research Council, Branson, VSS, VSS Unity, NASA, International, National Research Council, Microsoft, Galactic, OceanGate, Scaled Composites, Origin, Congress, Federal Aviation Administration, FAA Locations: British, New Mexico, United States

Virgin Galactic leases part of the facility. The flight marked a long-delayed breakthrough for Virgin Galactic Holding Inc (SPCE.N), finally inaugurating commercial service after nearly 20 years of fraught by development setbacks. Rounding out the crew was their Virgin Galactic trainer, Colin Bennett, the company's lead "astronaut instructor," and Unity's two pilots, Michael Masucci and Nicola Pecile. Virgin Galactic said Unity topped out its flight at an altitude of nearly 52.9 miles (85.1 km). An earlier prototype of the Virgin Galactic rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another.

Persons: Richard Branson, Joe, Branson, Burt Rutan, Jeff Bezos's, Elon Musk's, Walter Villadei, Angelo Landolfi, Pantaleone, Colin Bennett, Michael Masucci, Nicola Pecile, Bezos, Shepard rocketship, Jose Luis Gonzalez, Steve Gorman, Will Dunham, Nick Zieminski Organizations: Virgin, REUTERS, Virgin Galactic, National Research Council, VSS Unity, America, Galactic, Virgin Galactic Holding Inc, . Virgin, Elon Musk's SpaceX, Italian Air Force, International Space, Air Force, Unity, NASA, U.S . Air Force, Thomson Locations: New Mexico, U.S, Italy, Mexico, Italian, Los Angeles

Virgin Galactic leases part of the facility. The flight marked a long-delayed breakthrough for Virgin Galactic Holding Inc (SPCE.N), finally inaugurating commercial service after nearly 20 years fraught by development setbacks. Virgin Galactic said Unity topped out its flight at an altitude of nearly 52.9 miles (85.1 km). A final crewed test flight to space was conducted with little fanfare five weeks ago. An earlier prototype of the Virgin Galactic rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another.

☆ Stocks making the biggest premarket moves: Joby, Micron, Wells Fargo, Freyr Battery and more
▼ + stars: | 2023-06-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading. Joby Aviation — Joby shares gained another 17% premarket. The aviation company announced a $100 million equity investment from South Korea's SK Telecom, expanding an existing partnership. Wells Fargo , JPMorgan Chase , Bank of America — The banks moved higher after passing the Federal Reserve's annual stress test Wednesday. Wells Fargo and Bank of America gained nearly 2%, while JPMorgan rose 1.6%.

Persons: Wells, Charles Schwab —, Morgan Stanley, Adam Jonas, Berkshire Hathaway, Overstock, Richard, —, Macheel, Jesse Pound, Sarah Min, Michael Bloom, Brian Evans Organizations: Aviation, New York Stock Exchange, Joby, South Korea's SK Telecom, Micron Technology, Micron, JPMorgan Chase, Bank of America, Federal, JPMorgan, Citizens, Providence, Occidental Petroleum —, Petroleum, Berkshire, Warren Buffett, Virgin Galactic —, Virgin Galactic Locations: New York, South, Wells Fargo, Providence , Rhode Island, Wednesday's, Virgin

The flight, dubbed Galactic 01, comes two years after Branson himself rode along with five other Virgin Galactic Holdings Inc (SPCE.N) personnel for the company's first fully crewed test spaceflight of its rocket plane, VSS Unity. Back then, Virgin Galactic officials said they expected to begin regular commercial operations in 2022 following additional test flights. Virgin Galactic had projected booking its first 1,000 paying customers, charging about $250,000 per seat, by the time commercial service opened. An earlier prototype of Virgin Galactic's rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another. Billionaire rival Jeff Bezos, whose astro-tourist venture Blue Origin has already flown several commercial passenger flights, has disparaged Virgin Galactic as falling short of a true spaceflight experience.

Persons: Richard Branson, Joe Skipper, Branson, Walter Villadei, Angelo Landolfi, Pantaleone, Colin Bennett, Michael Masucci, Nicola Pecile, Branson's, Jeff Bezos, Virgin, Shepard rocketship, Jose Luis Gonzalez, Steve Gorman, Will Dunham Organizations: Virgin, Unity, REUTERS, Virgin Galactic, National Research Council, Virgin Galactic Holdings Inc, VSS, Galactic, SpaceX, Origin, Italian Air Force, International Space, Air Force, . Air Force, America, Corporate, NASA, U.S . Air Force, Thomson Locations: New Mexico, U.S, Italy, Mexico, Italian, Branson, Bezos, Los Angeles

☆ Fed looks likely to raise rates longer than anyone expects, says Richard Bernstein
▼ + stars: | 2023-06-28 | 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 EmailFed looks likely to raise rates longer than anyone expects, says Richard BernsteinRichard Bernstein, Richard Bernstein Advisors CEO and Courtney Rosenberger, Strategas managing director, joins 'Power Lunch' to discuss Bidenomics and the market.

Persons: Richard Bernstein Richard Bernstein, Richard Bernstein, Courtney Rosenberger

☆ Here's how a merger between PGA Tour and LIV Golf would be structured
▼ + stars: | 2023-06-27 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

In a five-page agreement obtained by CNBC, the parties — the PGA Tour, the Saudi Arabia Public Investment Fund and Europe's DP World Tour — agreed to create a for-profit subsidiary of the PGA Tour. The new entity will manage commercial assets for all of the tours, while the PGA Tour will manage competitions. The tentative merger agreement was signed by PGA Tour Commissioner Jay Monahan, DP World Tour CEO Keith Pelley and PIF's Yasir al-Rumayyan. The lawsuits came after multiple high-profile players including Phil Mickelson left the PGA Tour for LIV. The PGA Tour has said its executives would testify at the hearing, although it is unclear if Monahan will be present.

Persons: LIV, —, Muhammed bin Salman, Jay Monahan, Keith Pelley, PIF's Yasir al, LIV Golf, Phil Mickelson, " Monahan, Sen, Richard Blumenthal, Ron Johnson, Monahan Organizations: PGA Tour, CNBC, Saudi Arabia Public Investment Fund, Tour, Public Investment Fund, PGA, Senate Homeland Security Locations: Saudi, United States

☆ Madrid joins race for high-spending tourists with bet on five-star hotels
▼ + stars: | 2023-06-27 | by ( Corina Pons | ) www.reuters.com time to read: +5 min

[1/5] A swimming pool is seen at the top of Hyatt's Thompson Madrid Hotel, overlooking central Madrid, Spain, June 13, 2023. RISING ROOM RATESThe arrival of luxury hotels has marked a new peak in room rates. "We're seeking to capture the highest-spending international tourists," said Madrid's tourism director, Luis Martin. Employment in Madrid's tourism sector has grown by 15% since 2019, compared with 5.4% nationally. "The Spanish tourism sector has always tried to compete with other destinations on low prices," he said.

Persons: Hyatt's, Violeta Santos Moura, Santo Mauro, Richard Brekelmans, ”, Carlos Erburu, Thompson, Antonio Catalan, Alejandro Pitashny, Luis Martin, Jose Maria Martinez, Corina Pons, Belen Carreño, Charlie Devereux, Hugh Lawson Organizations: Madrid Hotel, REUTERS, Violeta Santos Moura MADRID, Hotels, Puerta del Sol, Dior, Marriott, Santo, Santo Mauro Palace, Westin, Ritz, Universal Music, Southern, Madrid, Colliers, Hyatt Hotels Corp, Reuters, Robuchon, Michelin, Airlines, Air, Thomson Locations: Madrid, Spain, Europe, Paris, London, Milan, Puerta del, Southern Europe, Barcelona, United States, Rome, Argentine, Iberia, America, Air China, China, Spanish

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