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☆ Tucker Carlson is going on tour. Ticketmaster is profiting off his hateful rhetoric
▼ + stars: | 2024-06-13 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

New York CNN —Ticketmaster is linking arms with right-wing extremists, boosting their ability to reach mainstream audiences and profiting off their dangerous and hateful rhetoric ahead of the November election. That is because there is not a morsel of truth to how Ticketmaster is presenting Carlson to its customers. How can any decent person not only participate in enabling Carlson’s poisoning of the public discourse but also justify profiting off of his hateful rhetoric in the process? CNN also posed questions to the venues hosting Carlson, which include the Honda Center, T-Mobile Center, Delta Center, Dickies Arena, Intrust Bank Arena and others. Those uncomfortable decisions risk catapulting them squarely into the center of the information wars, where grifters like Carlson thrive.

Persons: Tucker Carlson, Alex Jones, Marjorie Taylor Greene, Carlson, ”, Donald Trump’s, White supremacists, George Soros, Rupert Murdoch, Jones, Infowars, Anthony Fauci, Trump Organizations: New York CNN, Ticketmaster, Trump, Democratic Party, New York Times, Fox News, Live Nation, CNN, Carlson, Honda Center, Mobile Center, Delta Center, Dickies, Intrust Bank, Republican Party, Companies, Republicans Locations: New York, U.S

☆ Samsung Electronics names new chief for semiconductor business as AI chip race heats up
▼ + stars: | 2024-05-21 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Samsung Electronics named a new head for its semiconductor business on Tuesday, as the firm strives to lead the AI chip race. The firm aims "to strengthen its competitiveness amid an uncertain global business environment," Samsung Electronics said, adding that Jun has extensive experience leading the company's memory and battery manufacturing divisions. Samsung is in intense competition with SK Hynix to produce the most advanced memory chips in the market to ride the AI wave. The memory chip market is currently dominated by Samsung, SK Hynix and Micron — the world's top three suppliers. SK Hynix has been leading on the high-bandwidth memory front, having been the sole supplier of HBM3 chips to Nvidia , which is at the forefront of AI chips.

Persons: Young Hyun, Kyehyun Kyung, Kazunori Ito Organizations: Samsung Electronics, Samsung Advanced Institute of Technology, Samsung, SK Hynix, Micron, Nvidia, Morningstar

☆ Money or talent? What's actually driving hedge funds to Abu Dhabi and Dubai
▼ + stars: | 2024-05-14 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +9 min

Millennium, Brevan Howard, Schonfeld, and ExodusPoint are just a few of the funds that have put roots down in either Abu Dhabi or Dubai. Meanwhile, Bridgewater's Ray Dalio bought a penthouse in Abu Dhabi as he compliments the country's policies. When one US-based hedge fund fundraiser met with Abu Dhabi officials late last year, he didn't expect much to come of it. He lauded everything from the Louvre outpost in Abu Dhabi to the warm weather to the responsiveness from government officials. A Bloomberg story on Abu Dhabi notes that it's fast-tracking country-club admissions for new wealthy immigrants.

Persons: —, Brevan Howard, Schonfeld, Bridgewater's Ray Dalio, Austen Smart, Tighe, Smart, Alan Howard, Greg Coffey, Danny Yong, hoover, Doug Greenig, Morgan, Point72, Steve Cohen, Viking Global's Andreas Halvorsen, keynotes, Howard, Abu Dhabi, Craig Bergstrom, Bobby Jain's, Florin Court's Greenig, Abu, Floring Organizations: Service, United Arab Emirates, titans, Business, Tighe International, Florin Court Capital, Morgan Stanley's, Dubai Financial Services Authority, Abu, Abu Dhabi Investment Authority, Mubadala Investment Company, Corbin Capital, Abu Dhabi Global, Hong Kong, pats, Bloomberg Locations: Dubai, Abu Dhabi, London, New York, Mumbai, UAE, Asia, Switzerland, It's, Gaza, Iran, Palm, Europe, Cayman Islands, Jersey, Miami, San Franciso, Riyadh, Saudi

☆ CEO of software firm WSO2 discusses how it's positioning itself for generative AI
▼ + stars: | 2024-05-14 | 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 EmailCEO of software firm WSO2 discusses how it's positioning itself for generative AISanjiva Weerawarana, founder and CEO of WSO2, discusses the company's growth strategy and the business environment for tech companies in Sri Lanka.

Persons: WSO2, Weerawarana Locations: Sri Lanka

☆ India’s economy and Modi, Ambani, Adani: The three men shaping the next economic superpower
▼ + stars: | 2024-05-07 | by ( Diksha Madhok | ) edition.cnn.com time to read: +13 min

Fellow billionaire Gautam Adani, founder of the Adani group, was also invited. Reliance Industries and the Adani Group are sprawling conglomerates worth over $200 billion each, with established businesses in sectors ranging from fossil fuels and clean energy to media and technology. As a result, these three men — Modi, Ambani and Adani — are playing a fundamental role in shaping the economic superpower India will become in the coming decades. Both Adani and Ambani have become key allies as the country embarks on this revolution. “India cannot grow rich before it becomes old on the back of a few big firms like Adani or Ambani,” he said.

Persons: Mukesh Ambani, Mark Zuckerberg, Bill Gates, Ivanka Trump, popstar Rihanna, David Blaine, Ambani, Gautam Adani, Jeff Bezos, ”, Rohit Lamba, Narendra Modi, — Modi, Adani, Noemi Cassanelli, ’, John D Rockefeller, Vanderbilt, James Crabtree, Modi, Guido Cozzi, Cozzi, Ambani’s, Dhirubhai, helms, Cantor Fitzgerald, Cantor, ’ Ambani, Amit Dave, Hindenburg’s, ferociously, ” Cantor, Modi’s, Prasanna Tantri, Crabtree, Lamba Organizations: New, New Delhi CNN —, Reliance Industries, Pennsylvania State University, Investors, Adani, CNN, Adani Realty, Frick, Astor, Carnegie, Samsung, Hyundai, World Bank . Coal, University of St, Adani Group, Reliance, Reliance Industry, Adani Enterprises, AEL “, Tata Group, Modi, India’s, Hindenburg, GQG Partners, Indian School of Business Locations: New Delhi, Gujarat, Davos, Coachella, Silicon Valley, India, China, Mumbai, Antilia, America, Asia, Britain, South Korea, Worth, United Kingdom, University of St Gallen, Switzerland, American

☆ Monday's analyst calls: Apple gets a big upgrade, headwinds seen for Lululemon and Tesla
▼ + stars: | 2024-04-29 | by ( Brian Evans | ) www.cnbc.com time to read: +5 min

Monday's analyst calls included an upgrade to Apple and a move in the opposite direction for athleisure giant Lululemon and electric car marker Tesla. The firm downgraded Ulta stock to equal weight from overweight, and lowered its price target to $434 per share from $612. — Brian Evans 6:30 a.m. Evercore slashes Tesla price target Evercore ISI says its forecast for Tesla stock is due for an update as headwinds from the start of the year converge and pressure the electric vehicle company. Apple stock has pulled back 12.1% in 2024 but was up 1.7% in premarket trading Monday. Lululemon stock has slipped nearly 29% in 2024 and was off 1.9% premarket Monday.

Persons: Bernstein, Toni Sacconaghi, Barclays downgrades Ulta, Adrienne Yih, Yih, — Brian Evans, Chris McNally, McNally, Bernstein's Toni Sacconaghi, Sacconaghi, Barclays downgrades Lululemon, headwinds, LULU Organizations: CNBC, Apple, Tesla, Barclays, ISI Locations: China, Friday's, Mexico

☆ Inflation, operating costs had the biggest impact on Asian firms last year, survey shows
▼ + stars: | 2024-04-25 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +1 min

Higher costs had the biggest impact on Asian businesses in 2023, even as they continued to grapple with a global economic slowdown and rising borrowing costs, according to a survey by UOB. Of those polled, 32% said they were impacted by high inflation, another 32% said they faced increased operating costs, while 24% said rising labor costs hurt their business, UOB's 2024 Business Outlook Survey reported. Still, about four out of 10 companies said they felt "very positive" about the business environment in 2023, while 32% said they were "somewhat positive," the survey showed. Some 35% of the companies polled said the business environment in 2023 declined compared to the previous year. To combat future headwinds, 30% of the companies said reducing business costs will be their top priority in the next one to three years.

Organizations: UOB, Survey Locations: Southeast Asia, Greater China, China , Hong Kong, Thailand, Vietnam, Malaysia, Singapore, Indonesia

☆ Don't ignore threats like inflation, recession, and war, warn Wall Street's biggest bosses
▼ + stars: | 2024-04-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

If the 10-year bond rate goes up 2%, every asset on the planet, including real estate, is worth 20% less. Advertisement"If things stay where they are, we have the soft landing that seems to be embedded in the marketplace, the real estate will muddle through. They won't muddle through under higher rates with a recession. That would be tough for a lot of folks, not just real estate, if that happens." Jeenah Moon / Reuters"We're in a period that comes after financial repression, where we'll have some inflation and some real rates.

Persons: —, Wall, shouldn't, Jamie Dimon, I'm, David Solomon, Goldman Sachs, Jane Fraser, Julian Restrepo, Larry Fink, Stephen Schwarzman, Ted Pick, Morgan Stanley, Jeenah, Michael Santomassimo, Wells, Alistair Borthwick, that's Organizations: Service, Wall Street's, Business, titans, JPMorgan, Citigroup, AP, BlackRock, Blackstone, Bank of America Locations: East, Ukraine

☆ How R&D Funding Is Making the UK a Global Leader in Science
▼ + stars: | 2024-04-17 | by ( Sponsor Post | ) www.businessinsider.com time to read: +8 min

Exscientia's growth was bolstered by government support: The company didn't take venture funding until 2019. Exscientia wouldn't be where it was, Taylor said, without the support of the UK higher education system and government funding. Martin Tangney, the chief scientific officer of Edinburgh-based Celtic Renewables, said the £11 million of funding his company received in 2015 from the UK government was "pivotal." Advertisement"We really believe … [that] basically, soon all drugs are going to be created with AI," Taylor said. AdvertisementClick here to find out more about how your business can benefit from Research & Development in the UK.

Persons: Ben Taylor, Achilles, Taylor, —, We've, Smith, Nephew, we've, Martin Tangney, isn't, ABE, you've, Tangney Organizations: Nasdaq, University of Dundee, AstraZeneca, COVID, Celtic Renewables, biosciences, Department for Science, Innovation & Technology, Edinburgh Napier University, Government, Renewables, Research & Development, Insider Studios, UK's Department for Business & Trade, Innovation, Technology Locations: Oxford, UK, Edinburgh, Scotland, Ireland, Japan, America, India, Grangemouth

☆ How one real-estate unicorn is getting past gutting layoffs and slowing deals
▼ + stars: | 2024-04-08 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +8 min

Rising interest rates have slammed the brakes on deals, and many real-estate companies have cut staff as revenues slowed. Founded in 2020 by real-estate executives Ryan Stroker and William Martiner, Avenue One was profitable by early 2021, company officials told Business Insider. AdvertisementAvenue One cofounder and CEO Ryan Stroker told BI in an interview how the company is navigating the difficult business environment. "I was told that I wasn't spending enough money six months before the layoffs," Stroker said. Layoffs and Big SpendingBoth Stroker and Avenue One's followup statement said the company is financially secure and described the layoffs as prudent rather than necessary.

Persons: It's, Ryan Stroker, William Martiner, Wall, Stroker, Martiner, John Burns, Ryan, Axel Springer Organizations: Service, KKR, Global, Business, MetLife, Wall, Amherst, John Burns Real Estate Consulting, BI Locations: Manhattan, Axel

☆ How India is challenging China as Asia's tech powerhouse
▼ + stars: | 2024-04-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +30 min

New Delhi has sought to woo foreign tech companies and has been increasingly successful, with giants like Apple increasing their presence in the country. Tom Chitty: For years China has been Asia's tech powerhouse where the world's electronics and some of the biggest companies on the planet are located. And I think India is in the very early stages, to put it quite bluntly, of trying to do that. Tom Chitty: India have got an election this year as well, which is going to be interesting to see what happens there. You know, India has aligned itself slightly more to the countries that are currently a bit more anti-China, shall we say?

Persons: Tom Chitty, Arjun Kharpal, It's, Let's, I'm, Arjun, You'll, We're, we've, what's, gunning, Narendra Modi, it's, Tom, Modi, Trump, Apple, COVID, there's, Taiwan's, that's, Karen Tso, China's, Tim Cook, Raghuram Rajan, We've, feasibly, India's, let's, he's, you've, we'll, I've, We'll Organizations: Apple, CNBC, China, India's, Foxconn, Micron, Tata Electronics, Taiwan's Powerchip Semiconductor Manufacturing Corp, Reserve Bank of India, CCP, Samsung, Bain, India, London Locations: China, Tencent, Asia, India, Delhi, Washington, Beijing, American, COVID, U.S, Brazil, Vietnam, Indonesia, Thailand, Taiwan, South Korea, Bangalore, Goa, Kolkata, Mumbai, Europe, Silicon, New York, Germany

☆ Here are the best places in the world to do business
▼ + stars: | 2024-04-02 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Singapore, Denmark and U.S. are the best places in the world to conduct business, according to the Economist Intelligence Unit business environment ranking. "Singapore will remain the best geography in the world to do business, as it has for the past 16 years," EIU's Country Forecast Manager and Europe analyst, Prianthi Roy, told CNBC. Factors driving the Southeast Asian nation's place as a premier business destination is its political stability and the government's focus on helping domestic private-sector companies upgrade technologically, she said. The EIU's ranking assesses the attractiveness of doing business across 82 countries and territories, and is measured based on indicators such as inflation, cost of living, economic growth, and fiscal policies. The gauge also offers insights to which economies are better placed for growth than others, and an "effective way to identify where an uptick in investment spending may soon be coming," said EIU's analysts.

Persons: Prianthi Roy Organizations: Economist Intelligence Unit, CNBC Locations: Singapore, Denmark, U.S

☆ A boomer who moved from California to Florida started a Facebook group to help friends make similar moves. 300,000 members later, guiding Californians to new states is his full-time job.
▼ + stars: | 2024-03-31 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +11 min

A few years ago, Terry Gilliam, 64, packed his bags, sold his East Bay, California home, and moved to Florida. After founding two Facebook groups for California movers, he realized thousands more were in the same boat. His groups, Leaving California and Life After California, have nearly 300,000 members between them. Gilliam moved to Winter Park, a city of 29,000 outside Orlando, to help care for his parents. Van Edom, the Knoxville realtor, said Knoxville is a newly popular destination for California movers.

Persons: Terry Gilliam, Gilliam, It's, they're, I've, Terry Gilliam Terry Gilliam, Haley Van Edom, California Gilliam, I'm, he's, He's, Craig Blessing, Van Edom, Shay Felknor, Berkshire Hathaway, Dan Joyner, there's, Felknor, Ethan Lanagan, Lanagan Organizations: Service, Business, Golden State, realtors, Golden, Edom Home Group, Disney, California Facebook, Universal, Estate Services, Berkshire Hathaway C, Dan Joyner Realtors, Sacramento — Locations: Bay , California, Florida, California, . Texas , Arizona, Golden State, Knoxville , Tennessee, Connecticut, Texas, Tennessee, Arkansas, Orlando, shutdowns, Texas , Florida, Georgia, South Carolina, Southern California, Central Florida, Van, Knoxville, Berkshire, Greenville , South Carolina, San Diego, Sacramento, Atlanta, North Carolina , Tennessee, Nashville , Tennessee, Franklin , Tennessee, Orange County, Franklin

☆ China's Xi tells U.S. CEOs that bilateral relations can have a 'brighter future'
▼ + stars: | 2024-03-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

China's President Xi Jinping speaks at an event held by the National Committee on US-China Relations and the US-China Business Council on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Leaders' Week in San Francisco, California, on November 15, 2023. Carlos Barria | Afp | Getty ImagesBEIJING — Chinese President Xi Jinping told U.S. executives on Wednesday that bilateral relations can improve, and pledged that Beijing would keep working to improve the business environment. In the Chinese side's readout, Xi described China's economy as "sound and sustainable," and pushed back on some forecasts that the country would soon "peak." The National Committee on U.S.-China Relations did not provide a statement. "I commend [Xi's] personal engagement in the U.S.-China relationship, including a meeting like this.

Persons: Xi Jinping, Carlos Barria, Stephen Schwarzman, Cristiano Amon, Evan G, Greenberg, Harvard's John F, Dean Graham Allison, Craig Allen, Xi, Wang Yi, Zheng Shanjie, Commerce Wang Wentao, Rajesh Subramaniam, Chubb Organizations: National Committee, China Relations, China Business Council, Economic Cooperation, APEC, Afp, Getty, U.S, China -, Blackstone, Qualcomm, Kennedy School of Government, U.S ., China Business, Authorities, National Development, Commerce, FedEx, CNBC, Committee Locations: Asia, San Francisco , California, BEIJING, Beijing, China, United States, U.S

☆ CNBC Daily Open: Focus turns to key inflation data
▼ + stars: | 2024-03-28 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

Photographer: Christopher Dilts/Bloomberg via Getty ImagesThis 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. Xi on China tech progressChinese President Xi Jinping told Dutch Prime Minister Mark Rutte that no force can stop China's tech advance. Separately, Xi also told U.S. executives that bilateral ties can have a "brighter future" and vowed to improve the business environment. The next few days could prove crucial in diverting trade away from the port, logistics executives told CNBC, after a container ship collided into the Francis Scott Key Bridge early Tuesday.

Persons: Christopher Dilts, Topix, Xi, Xi Jinping, Mark Rutte, Janet Yellen, Yellen, Francis Scott Key, David Neuhauser Organizations: Bloomberg, Getty, CNBC, Nikkei, U.S ., CSI, Dow, Nasdaq, Dutch, Xinhua News Agency, U.S, Treasury, Francis Scott Key Bridge, Livermore Partners Locations: Chicago , Illinois, Japan, Seng, China, Beijing, U.S, Baltimore, Port of Baltimore

☆ Carlos Gutierrez discusses U.S. businesses and China
▼ + stars: | 2024-03-27 | 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 EmailTrump's the leader in 'economic nationalism,' but Biden has also governed with it: Carlos GutierrezCarlos Gutierrez, U.S. secretary of commerce from 2005 to 2009, and board member of the Boao Forum for Asia, discusses how "economic nationalism" is affecting the business environment.

Persons: Biden, Carlos Gutierrez Carlos Gutierrez Organizations: Asia

☆ China vows to treat foreign firms equally as it seeks more international investment
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: +4 min

Guo Tingting, Chinese Vice Minister of Commerce, attends the China Development Forum in Beijing on March 25, 2024. "China will fully guarantee national treatment for foreign companies, so that more foreign companies can invest in China with confidence and peace of mind," Vice Commerce Minister Guo Tingting said at the China Development Forum in Beijing. China pledged on Monday to treat foreign companies the same way as domestic peers in a bid to attract more foreign investment, cooperation and expertise, as Asia's largest economy moves to upgrade and strengthen its industrial chains. In response, China has stepped up efforts to address concerns of foreign investors, pledging to protect the rights of foreign companies and promising to further enlarge entry into its markets. Over 100 overseas executives and investors have attended the annual China Development Forum since the weekend, including companies with deep supply chains in China such as Apple and Siemens .

Persons: Guo Tingting, Guo, Li Qiang, Stephen von Schuckmann, CGTN, We're, Information Technology Jin Zhuanglong, Jin, Kristalina Georgieva Organizations: Commerce, China Development Forum, Trade Organization, WTO, Sunday, ZF Group, Apple, Siemens, Industry, Information Technology, Monetary Fund's Locations: Beijing, China, consultancies, United States

☆ McDonald’s and other restaurant chains look to the Sun Belt for growth as population soars
▼ + stars: | 2024-03-09 | by ( Amelia Lucas | ) www.cnbc.com time to read: +7 min

The chain's sales are "way stronger" in Texas, Arizona and Florida than in midwestern states such as Indiana and Wisconsin, according to Osanloo. For more mature companies such as McDonald's , it means accelerating new restaurant growth in areas where it's now underrepresented. It isn't just restaurants looking to the Sun Belt for sales growth. In addition to well-known chains, Greider has also seen restaurants with chef-driven name recognition traveling south from New York and Chicago. The chain's sales are growing again, according to Brix Holdings CEO Sherif Mityas, making it an opportune time to expand Friendly's footprint.

Persons: Portillo's, Michael Osanloo, you've, Justin Greider, Macy's, Phillips, Manu Steijaert, Greider, they've, that's, Carbone, Friendly's, Sherif Mityas, Mityas, we're, Christine Barone Organizations: Beef, CNBC, Northeast, Sun, Airlines, Dallas, Phillips Edison & Company, JPMorgan, Grill, Major Food Group, Brix Holdings, Brix, Bros Locations: Kissimmee , Florida, Chicago, Texas, Texas , Arizona, Florida, Indiana, Wisconsin, U.S, Midwest, Charlotte, Phoenix, Houston, Dallas, Fort Worth, Atlanta, Florida , Texas , Arizona, Georgia, North Carolina, New York, Miami, Massachusetts, Mississippi, Minneapolis, Southern California, California, Virginia

☆ China Scraps Premier’s Annual News Conference in Surprise Move
▼ + stars: | 2024-03-04 | by ( Vivian Wang | Chris Buckley | ) www.nytimes.com time to read: +1 min

China’s premier will no longer hold a news conference after the country’s annual legislative meeting, Beijing announced on Monday, ending a three-decades-long practice that had been an exceedingly rare opportunity for journalists to interact with top Chinese leaders. It also reinforced how China’s top leader, Xi Jinping, has consolidated power, relegating all other officials, including the premier — the country’s No. 2, who oversees government ministries — to much less visible roles. China’s current premier, Li Qiang, was widely considered to have been elevated to the role last year because of his loyalty to Mr. Xi. “Barring any special circumstances, there will not be a premier’s news conference in the next few years after this year’s legislative session either,” Lou Qinjian, a spokesman for the legislature, said at a news briefing about this year’s session.

Persons: Xi Jinping, Li Qiang, Mr, Xi, ” Lou Qinjian Locations: Beijing

☆ For Black workers, progress in the workplace but still a high hill to climb
▼ + stars: | 2024-02-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +10 min

"We were in a situation where folks accepted that Black unemployment was going to always be high and there was nothing that they could do about it. The Black unemployment rate in January was 5.3%, up a touch from December but still near the all-time low of 4.8% hit in April 2023. For Black workers, weekly before-tax earnings as of the end of 2023 have risen 24.8% since the first quarter of 2020. "High unemployment for Black workers is a solvable problem," Fulton said. Black workers are interested in tech and believe there are opportunities.

Persons: Ali, Jamila Wright, there's, Jessica Fulton, Fulton, Cox, she's, MilSpouse, they've, Sue Harnett, Goldman Sachs, Harnett, I'm, Ali Wright Organizations: Brooklyn Tea, Joint Center, Political, Economic Studies, D.C, U.S . Bureau of Labor Statistics, McKinsey & Company, Companies, Bank of America, Black Colleges, Universities, New, Small Business Administration, Ivy League, Conference Board Locations: America, U.S, Washington, Brooklyn, New York City, Atlanta

☆ Jim Cramer says Tuesday's sell off was based on 'bad judgment'
▼ + stars: | 2024-02-13 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer said Tuesday's sell-off was a result of poor judgment on the part of shareholders. "The market won't bottom all at once — there will be some stocks that will bottom tomorrow — but I think this is a sell-off based on bad judgment, not bad earnings or a bad business environment," he said. Other bullish investors stirred up market froth, buying up many tech companies with unclear business plans, he said. In theory, Cramer said investors would be wise to sell some stock here and then buy it back at lower levels, but admitted that that plan is difficult to execute in practice. "The market can't advance on froth without terrible consequences," he said.

Persons: CNBC's Jim Cramer, Tuesday's, offsides, who'll, Cramer Organizations: Dow Jones Industrial, Nasdaq, Federal Reserve

☆ This is the year of the password-sharing crackdown
▼ + stars: | 2024-02-08 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +5 min

Streaming companies turned a blind eye to password-sharing for years. Users of the family-oriented streaming platform received emails this week notifying them of changes to the terms of service. The new terms note that different service tiers may permit some degree of password-sharing — if you're willing to pay. Disney's updated terms of service are almost identical to those of Hulu and ESPN+, which were also announced on January 25. Iger's comments came in the wake of Netflix's successful crackdown earlier last year, when the streaming giant announced it would start charging $8 for users outside the household.

Persons: Nice Guy, Hugh Johnston, Johnston, Bob Iger, Netflix's, Nicholas De Leon, We've, De Leon, It's Organizations: Business, Hulu, ESPN, Disney, Netflix, Consumer, Spotify, Costco, Amazon Prime, Apple Locations: Wednesday's

☆ After Chipotle's solid earnings beat, CEO says the chain can double the number of locations
▼ + stars: | 2024-02-06 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Chipotle CEO Brian Niccol told CNBC's Jim Cramer that the company plans to double its current number of locations. "We really do believe we can double the restaurant count to 7,000," Niccol said. "We view it as a conservative number, and we view it as something that's very feasible in the long term." Niccol attributed the successful quarter to the company's ability to produce quality food while keeping lines in the restaurants moving quickly. "So, we keep a really close eye on that, and I think you're seeing that in our transactions as a result of it."

Persons: Brian Niccol, CNBC's Jim Cramer, Niccol, Chipotle, McDonald's Organizations: LSEG, Starbucks

☆ Samsung is optimistic about AI-driven smartphones, despite losing the top sales crown
▼ + stars: | 2024-01-31 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Samsung posted its fourth straight quarter of slumping profits on Wednesday, capping off a dismal year that also saw it lose its crown as the world’s top smartphone maker. Despite that, Samsung is optimistic about a resurgence in demand for mobile devices this year. The South Korean firm has acknowledged “lower smartphone sales” during the fourth quarter, though it noted a pickup in demand for high-end smartphones compared to the previous three months. This year, however, the market is expected to recover gradually, “despite various potential obstacles, including interest rate policies and geopolitical issues,” Samsung said in a statement Wednesday. The company managed to command higher prices for memory chips in the fourth quarter compared to the previous quarter, showing a slight “improved performance,” it added.

Persons: Hong Kong CNN —, ” Samsung Organizations: Hong Kong CNN, Hong Kong CNN — Samsung, South, Samsung, Apple, IDC Locations: Hong Kong, Seoul

☆ U.S. and China are working to make the business environment less volatile, Beijing says
▼ + stars: | 2024-01-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Aly Song | ReutersBEIJING — China and the U.S. are working toward creating a more stable and predictable environment for businesses, Chinese Commerce Minister Wang Wentao said Friday. U.S. and other foreign businesses in China have long complained of challenges to doing business in the Asian country, such as unequal treatment of foreign companies compared to local players. The move was widely seen as an improvement for foreign businesses, but no official policy has yet followed. When asked Friday for an update on data rules, Wang only said the "primary ministry is stepping up efforts to release them." When Raimondo visited China last year, she called for more action to improve predictability for U.S. businesses in China.

Persons: Aly Song, Wang Wentao, Gina Raimondo's, Wang, Raimondo, Biden Organizations: Chinese Communist Party, Reuters, Commerce, CNBC, Cyberspace Administration of China, CAC, of Commerce Locations: China, U.S, Yiwu, Zhejiang province, Reuters BEIJING, Washington, France

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