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☆ Stocks are bottoming and the market is approaching the perfect buying opportunity for investors, Fundstrat says
▼ + stars: | 2023-10-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The perfect opportunity for investors to buy the dip in stocks is approaching, according to Fundstrat's Mark Newton. The S&P 500 will drop to 4,200 before recovering, Newton said on CNBC Tuesday. AdvertisementAdvertisementStocks are in the process of bottoming out, and that means the perfect buying opportunity could soon present itself for investors, according to Fundstrat's global head of technical strategy Mark Newton. Meanwhile, any coming downturn is also likely to be postponed, thanks to unprecedented demand carrying the housing market and the labor market, Newton added. That could take the S&P 500 to a new all-time-high in 2023, Fundstrat's Tom Lee previously predicted.

Persons: Fundstrat's Mark Newton, Newton, That's, —, Mark Newton, Fundstrat, Fundstrat's Tom Lee Organizations: CNBC, Service Locations: Israel

☆ Germany's conservatives set to win state elections with far-right making gains
▼ + stars: | 2023-10-08 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Photo: Arne Dedert/dpa (Photo by Arne Dedert/picture alliance via Getty Images)Germany's conservative opposition was slated to win two state elections while the far-right gained ground on Sunday, exit polls showed, halfway into the government of social democratic Chancellor Olaf Scholz. The two states were led by the main opposition Union alliance that reunites the Christian Social Union party and the Christian Democratic Union. In Hesse, theBoris Rhein's CDU had led as part of a coalition with the Greens — and was set to win 35.5% of votes, exit polls showed. Here, too, AfD strengthened its presence, from 13.1% of votes previously to 16% on Sunday. The ruling Social Democratic Party is expected to gain 16% in Hesse and 8.5% in Bavaria.

Persons: Arne Dedert, Olaf Scholz, —, theBoris Rhein's, Friedrich Merz, Hesse, Robert Lambrou Organizations: Getty, Union, Christian Social Union, Christian Democratic Union, ARD, CSU —, Free, Greens, Google, Social Democratic Party, CNBC Locations: Frankfurt, Hesse, Germany, Bavaria, Munich

☆ 'Loyalty alone is not enough': Kremlin reveals the qualities Russia's Vladimir Putin values the most
▼ + stars: | 2023-10-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

Russian President Vladimir Putin chairs a Security Council meeting via a video link in Saint Petersburg on October 10, 2022. "But for Vladimir Putin, loyalty alone is not enough. Russia's president Vladimir Putin (R) and his spokesman Dmitry Peskov (L) attend the Supreme Eurasian Economic Council meeting at the Congress Hall in Bishkek on December 9, 2022. Contributor | Getty ImagesDuring Russia's "special military operation" in Ukraine, as it calls its invasion, questions have been raised about the strategy and competency of Russia's military leadership. FILE - Businessman Yevgeny Prigozhin, left, shows Russian President Vladimir Putin, around his factory which produces school meals, outside St. Petersburg, Russia on Monday, Sept. 20, 2010.

Persons: Vladimir Putin, Gavriil Grigorov, Putin, Andrei Kondrashov, it's, Dmitry Peskov, Vyacheslav Oseledko, —, Sergey Lavrov, Sergei Shoigu, Sergei Lavrov, Nikolay Patrushev, Mikhail Mishustin, Sergei Sobyanin, There's, Vladimir Solovyov, Nikolai Patrushev, Dmitry Medvedev, Medvedev, Sergei Medvedev, Dmitry, Yevgeny Prigozhin's, Alexander Ermochenko, Sergey Shoigu, Shoigu, Prigozhin, Wagner, Kirill Shamiev, Prigozhin Prigozhin, Yevgeny Prigozhin, Alexei Druzhinin Organizations: Afp, Getty, CNBC, Economic, Kremlin, Security, Moscow, SVR, Russian Security Council, Ukraine, West ., Kyiv, Russian, Luhansk People's, Reuters, Wagner Group, European Council, Foreign Relations Locations: Saint Petersburg, Bishkek, Russian, Yerevan, Armenia, Russia, Ukraine, Kyiv, Luhansk, Luhansk People's Republic, Crimea, Moscow, Belarus, Prigozhin, St . Petersburg

☆ Meta wants to charge European users $14 to access ad-free Instagram, Facebook: Report
▼ + stars: | 2023-10-03 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

The proposal, which would cost users around $14 a month on mobile devices and as much as $17 on a desktop, is Meta's attempt to navigate strict privacy rules in the European Union. Meta has spoken with digital-competition regulators in Brussels, privacy regulators in Ireland and other EU privacy regulators about its proposal, according to the report. It is not clear whether regulators believe Meta's proposal is a sufficient workaround, according to the report, and they may ask the company to propose a cheaper offering. Since the privacy rules do not apply to the U.S., it is unlikely that Meta would introduce SNA there. But in February, Meta CEO Mark Zuckerberg announced a paid verification subscription service called Meta Verified.

Persons: Meta, Mark Zuckerberg, Zuckerberg Organizations: Wall Street, European Union, Meta, CNBC Locations: Brussels, Ireland, U.S

Club holdings Meta Platforms (META) and Apple (AAPL) made headlines Tuesday, and the reports suggest both tech giants are nimbly adapting to complicated operating environments. Meta weighs monthly subscription fee META YTD mountain Meta (META) year-to-date performance The news: Meta is planning to role out an ad-free subscription option for social media platforms Instagram and Facebook in Europe, The Wall Street Journal reported Tuesday. Apple appeases Chinese authorities AAPL YTD mountain Apple (AAPL) year-to-date performance The news: Apple has started to adopt more stringent rules for its App Store in China following the implementation of new government regulations for mobile apps. China ultimately denied those media reports , which had contributed to Apple losing $200 billion in market cap over a two-day period. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Mark Zuckerberg's, Apple, Jim Cramer's, Jim Cramer, Jim, Nasir Kachroo Organizations: Meta, Apple, Facebook, Street, CNBC, U.S, Reuters, NurPhoto, Getty Locations: Europe, China, Beijing, U.S, India

☆ Europe is 'very far' from imposing new duties on Chinese EVs despite ongoing probe, top official says
▼ + stars: | 2023-09-20 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

The European Union is "very far" from imposing new tariffs on Chinese electric cars, a top official told CNBC, just days after the bloc launched an investigation into subsidies given by Beijing. The institution surprised many last week by announcing an anti-subsidy probe focusing on the EV market in the world's second-largest economy. The European Commission believes cheaper Chinese electric cars are flooding the European market with prices being kept low due to sizeable state subsidies. The commission said an anti-subsidy probe could last up to 13 months from initiation. It also said that provisional measures must be imposed no later than nine months, followed by four months to impose definitive measures, if legally warranted.

Organizations: European, CNBC, European Commission Locations: Beijing, China

☆ Recession-hit Germany is facing a flurry of global headwinds, Goldman Sachs says
▼ + stars: | 2023-09-19 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

The victory column and TV tower are pictured in front of the sunrise in Berlin, Germany. Germany finds itself at a crossroads of global issues as it deals with an economic contraction, according to Peter Oppenheimer, chief global equity strategist and head of macro research EMEA at Goldman Sachs. "The predicament that the economy is facing at the moment is really down to a number of factors," Oppenheimer told CNBC Tuesday, with challenges in the manufacturing sector, a disappointing China reopening boost and higher energy costs contributing to the recession in Europe's largest economy. "It's … not a deep recession but it's obviously been more hit by obvious headwinds," Oppenheimer said. The comments reflect the latest projection by the Bundesbank, which estimated Monday that the German economy is likely to shrink this quarter thanks to slow private consumption and industry stuttering.

Persons: Peter Oppenheimer, Goldman Sachs, Oppenheimer Organizations: Goldman, CNBC Locations: Berlin, Germany, China

Meta's return-to-office mandate went into effect on Tuesday, requiring employees to work from the company's physical locations at least three days a week. The company began notifying employees in June of the coming change, which will not impact Meta's current roster of remote workers. Any employee assigned to an office, however, will need to comply with the rules starting this week. Facebook parent Meta first extended its remote-work policy to all full-time employees in June 2021. "This analysis also shows that engineers earlier in their career perform better on average when they work in-person with teammates at least three days a week."

Persons: Meta's, Mark Zuckerberg, Zuckerberg Organizations: CNBC, Facebook, Meta

☆ Nvidia and more: Morgan Stanley reveals its favorite global stocks to play 'a pivotal moment for AI'
▼ + stars: | 2023-08-24 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Analysts at Morgan Stanley picked several global stocks they say are set to benefit from the artificial intelligence trend, from semiconductors to server companies. "The 2024 earnings for AI stocks are higher than they were on July 1, and fundamentals for AI companies look even better," Morgan Stanley said in a note to investors seen by CNBC Tuesday, titled "A Pivotal Moment for AI." The analysts also described AI stocks as "materially cheaper today than they were last month." Morgan Stanley said this is a "pivotal moment for NVDA and the AI supply chain," adding that investors should "prepare for potential AI opportunities." In Japan, Morgan Stanley named Disco Corporation , a maker of semiconductor manufacturing devices, for its "meaningful demand increase from generative AI-related Equipment."

Persons: Morgan Stanley, Shawn Kim, Morgan, — CNBC's Michael Bloom, Yeo Boon Ping Organizations: CNBC, Nvidia, Revenue, Taiwan Semiconductor Manufacturing Company, China Semiconductors, Global Unichip Corp, chipmaker SK Hynix, Samsung, Disco Corporation Locations: Greater China, China, South Korea, Japan

☆ Vietnamese EV maker VinFast to begin trading on the Nasdaq Tuesday after completing SPAC merger
▼ + stars: | 2023-08-15 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

A VinFast VF7 electric vehicle is seen during the 2023 Canadian International AutoShow in Toronto, Canada on Feb. 17, 2023. Vietnamese electric vehicle maker VinFast is expected to list on the tech-focused Nasdaq on Tuesday morning in New York, following completion of its merger with the U.S.-listed special purpose acquisition company Black Spade Acquisition . On Monday, VinFast said in a joint statement with Black Spade Acquisition that it would commence trading on Aug. 15. The deal values VinFast at approximately $23 billion, according to a June filing with the U.S. Securities and Exchange Commission. Following the merger, Black Spade became a wholly owned subsidiary of VinFast and is expected to delist from the New York Stock Exchange, said the joint statement.

Persons: VinFast, Black Spade, Le Organizations: U.S, Spade, U.S . Securities, Exchange Commission, New York Stock Exchange, Thuy, CNBC Locations: Toronto, Canada, New York, VinFast

☆ Offshore wind turbine catches fire off east coast of Britain
▼ + stars: | 2023-08-15 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +1 min

An aerial view shows wind turbines at RWE's Scroby Sands Wind Farm, off the coast of Great Yarmouth, eastern England, on February 15, 2023. LONDON — An offshore wind turbine in the North Sea caught fire Tuesday, with all personnel evacuated and accounted for. The turbine is part of the Scroby Sands Offshore Wind Farm, which has a capacity of 60 megawatts. It is owned and operated by RWE Offshore Wind. In a statement sent to CNBC Tuesday, a Maritime and Coastguard Agency spokesperson said: "HM Coastguard has been monitoring a wind turbine on fire at the Scroby Sands Wind Farm today … off the coast of Great Yarmouth."

Organizations: RWE, CNBC, Maritime and Coastguard Agency, Coastguard Locations: Great Yarmouth, England

☆ With eyes on Taiwan, new China ban shows the U.S. may be learning lessons from mistakes with Russia
▼ + stars: | 2023-08-11 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +7 min

Analysts said the U.S. was making such moves with an eye on rising tensions over Taiwan, given that the potential fallout from a conflict between China and Taiwan would be "unimaginable." Yurchenko, who spoke to CNBC ahead of the Wednesday announcement, dubbed the scale of the risks regarding Taiwan as "unimaginable." Beijing, meanwhile, has called for "reunification" with Taiwan, last year describing its status in a white paper as an "unalterable" part of China. watch nowElina Ribakova, senior fellow at the Peterson Institute for International Economics, said that China was watching the West's approach to Russia closely. Western sanctions against Moscow keep coming, almost 1½ years after Russian forces crossed Ukraine's borders.

Persons: Drew Angerer, Joe Biden, Olena, it's, Olena Yurchenko, Yurchenko, Kyle Bass, Xi Jinping, Biden, Ukraine's Yurchenko, they've, Elina Ribakova, Ribakova, Daniel Ferrie, I'm Organizations: Getty, Wednesday, Foreign Ministry, Economic Security, of, of Ukraine, CNBC, Peterson Institute for International Economics, Moscow, Ukraine, European, European Union, Hayman Capital Locations: China, disassociation, Beijing, U.S, Russia, Taiwan, United States, Washington, of Ukraine, India, Taiwan Strait, Ukraine, Ukraine's, Moscow

☆ The economy is stronger than people thought and there's no recession in 2023, says Invesco's Brian Levitt
▼ + stars: | 2023-08-09 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

"This is an economy that's stronger than people thought," Invesco strategist Brian Levitt told CNBC Tuesday. He also sees stocks as beginning a "FOMO" rally from now until the end of the year. Brian Levitt is upbeat on the US's economic prospects – and believes the rally that's lifted equities in 2023 still has room to run. "My expectation on what the market is telling us is that this is an economy that's stronger than people thought," Invesco's global market strategist told CNBC on Tuesday. "I would think it's a FOMO rally between here and the end of the year," Levitt said.

Persons: Brian Levitt, –, Levit, Levitt, Morgan, Mike Wilson, who's Organizations: CNBC, Service, Reserve Locations: Wall, Silicon

☆ General Motors shares drop after second-quarter earnings. Here's what the pros are saying
▼ + stars: | 2023-07-25 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from investors and analysts on General Motors . The pros, including Jim Cramer , discussed the automaker after it reported second-quarter earnings Tuesday before market opened that were up sharply year over year. General Motors CEO Mary Barra joined CNBC Tuesday to break down the company's results and detail plans to implement $3 billion in cost-cutting measures throughout next year. Although revenue beat analyst estimates and GM increased its 2023 forecast for the second time this year, its shares ended the day down 3.5%.

Persons: Jim Cramer, Mary Barra Organizations: General Motors, CNBC, GM

☆ BlackRock might not be 'woke' anymore after the asset manager put an oil CEO on its board
▼ + stars: | 2023-07-19 | by ( Rebecca Ungarino | George Glover | ) www.businessinsider.com time to read: +4 min

BlackRock named Aramco CEO Amin Nasser to its board Monday. Nasser leads the world's largest oil producer, which is mainly owned by the Saudi Arabian state. Its decision to name Aramco CEO Amin Nasser to its board Monday provides further ammunition for those critics, signaling that the firm might not be as socially conscious as it says it is. That is the wrong player here, unless [BlackRock CEO] Larry Fink really wants to blur their image on the ESG front," Jeffrey Sonnenfeld, the Yale professor and management expert, said on CNBC Tuesday. Amin H. Nasser, president and chief executive officer of Saudi Arabian Oil Company (Saudi Aramco), speaks at the China Development Forum in Beijing, China, March 19, 2017.

Persons: Amin Nasser, Nasser, Larry Fink's, it's, Larry Fink, Jeffrey Sonnenfeld, Biden, Jamal Khashoggi, He'll, that's, Amin H, Shu Zhang, Reuters Fink, BlackRock's, It's, Fink, he'd Organizations: BlackRock, Aramco, Yale, CNBC, Washington Post, Saudi Arabian Oil Company, China Development Forum, Reuters, McKinsey, Republican Locations: Saudi Arabian, Saudi Arabia, Saudi, Saudi Aramco, Beijing, China, Massachusetts

☆ Erdogan's push for Turkey's EU membership is being met with surprise and skepticism
▼ + stars: | 2023-07-11 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Erdogan surprised many on Monday by linking Sweden's bid to join NATO with his country's accession to the EU. "I was quite surprised he linked this," Maria Demertzis, senior fellow at the Brussels-based think tank Bruegel, told CNBC Tuesday. The EU deemed that Turkey was putting forward a lot of political reforms that actually moved it "further away" from the bloc. One of the policy changes that infuriated the EU was a 2017 referendum that gave Erdogan more executive powers. "He needs money," an EU official, who did not want to be named due to the sensitive nature of the topic told CNBC Tuesday, regarding why Erdogan brought up this issue again now.

Persons: Recep Tayyip Erdoğan, aren't, Erdogan, Maria Demertzis, Erdogan's Organizations: European Union, NATO, EU, CNBC Locations: Turkish, Turkey, Sweden, Brussels, Ankara

☆ CNBC Daily Open: Consumers might just prevent a U.S. recession
▼ + stars: | 2023-06-28 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Australia's S&P/ASX 200 added around 1% after May's inflation reading was lower than expected. The fourth industrial revolutionGenerative artificial intelligence isn't hype — it's the "fourth industrial revolution playing out," said Dan Ives, managing director of Wedbush Securities. [PRO] Seth Klarman on marketsLegendary investor Seth Klarman of Baupost Group spoke with CNBC Tuesday in an exclusive interview.

Persons: Australia's, Christine Lagarde, Lagarde, Dan Ives, Ives, Seth Klarman, Klarman Organizations: CNBC, China's Shanghai, HSBC Asset Management, HSBC, Reserve, European Central Bank, Wedbush Securities, Unity, Baupost Locations: U.S, Asia, Pacific

☆ CNBC Daily Open: Consumers might just fend off a U.S. recession
▼ + stars: | 2023-06-28 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Recession warningThe U.S. will slip into recession in the fourth quarter this year, and will continue languishing in it for 2024, according to HSBC Asset Management. With the new marketplace, users can choose software from other companies to generate AI graphics, text, voice and so on. [PRO] Seth Klarman on marketsLegendary investor Seth Klarman of Baupost Group spoke with CNBC Tuesday in an exclusive interview.

Persons: fintech, Wise, Christine Lagarde, Lagarde, Unity's, Seth Klarman, Klarman Organizations: CNBC, HSBC Asset Management, HSBC, Reserve, European Central Bank, Unity, Baupost Locations: U.S

☆ Markets are pricing in rate cuts too soon, IMF's Gopinath says
▼ + stars: | 2023-06-27 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Major central banks will have to keep interest rates high for much longer than some investors expect, Gita Gopinath, first deputy managing director of the International Monetary Fund, told CNBC Tuesday. "Now this is unlike, for instance, what several markets expect, which is that things are going to come down very quickly in terms of rates. The ECB began raising rates in July 2022 and has increased its main rate from -0.5% to 3.5% since then. Nonetheless, Fed Chairman Jerome Powell has suggested there could be at least two more rate hikes this year. In a note to clients on Friday, Nomura said it expects both the ECB and the Bank of England to announce rate cuts in about a year's time.

Persons: Gita Gopinath, Gopinath, CNBC's Annette Weisbach, Jerome Powell, Nomura Organizations: International Monetary Fund, CNBC, European Central Bank, ECB, U.S . Federal Reserve, Fed, Bank of England Locations: Sintra , Portugal, Europe

☆ OpenAI-powered app from Microsoft is coming to Epic Systems to help save doctors time
▼ + stars: | 2023-06-27 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Microsoft's speech recognition subsidiary Nuance Communications on Tuesday announced its AI-powered clinical notes application is coming to Epic Systems to help reduce physicians' administrative workloads. Epic is a health care software company that helps hospitals and other health systems store, share and access electronic health records. More than 500,000 physicians and 306 million patients across the globe use Epic's offerings, and the company has long-standing partnerships with both Microsoft and Nuance. Nuance told CNBC Tuesday that integrating its latest solution, Dragon Ambient eXperience (DAX) Express, into Epic is a "major step" toward that goal. "The last thing they want to do is pajama time," Peter Durlach, chief strategy officer at Nuance told CNBC in an interview Tuesday.

Persons: DAX, Garrett Adams, Peter Durlach, Adams, Durlach Organizations: Microsoft Corp, Tuesday, Epic Systems, Microsoft, CNBC, American Medical Association, DAX Express Locations: Lisbon, Portugal, U.S, HIPAA

☆ Ukraine war live updates: Putin's latest war claim deemed preposterous; Kyiv sees tough fighting in sluggish counteroffensive
▼ + stars: | 2023-06-22 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

A Ukrainian soldier of the 28th Separate Mechanized Brigade fires at Russian positions at the front line near the town of Bakhmut in the Donetsk region, on June 17, 2023. Ukraine's counteroffensive has produced only limited gains so far, with eight settlements reclaimed in the last two weeks. Ukrainian officials are the first to admit that the country's armed forces face a "tough duel" with Russia in the weeks and months ahead. They're dug in so deep, that we already had a very good idea that this will be not an easy task," he added. Read more on the story here: 'Tough duel' ahead for Ukraine as Russia mounts fierce resistance to counteroffensive— Holly Ellyatt

Persons: It's, Yuriy Sak, Holly Ellyatt Organizations: Mechanized Brigade, CNBC Locations: Ukrainian, Bakhmut, Donetsk, Ukraine, Russia

☆ 'Tough duel' ahead for Ukraine as Russia mounts fierce resistance to counteroffensive
▼ + stars: | 2023-06-20 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

Ukrainian officials are the first to admit that the country's armed forces face a "tough duel" with Russia in the weeks and months ahead. Nonetheless, there is mounting pressure on Ukraine to produce solid results — and analysts told CNBC that expectations could be far too high. Oleksiy Goncharenko, a Ukrainian lawmaker, told CNBC Tuesday that it was too early in the counteroffensive to make a judgment call. Urging patience, Ukraine defense advisor Yuriy Sak told CNBC: "We understand that everybody — and us more than anybody else — wants [the counteroffensive] to be progressing faster." Anders Fogh Rasmussen, chair of Rasmussen Global and former Secretary General of NATO, told CNBC Tuesday that "we are much too slow."

Persons: Anatolii Stepanov, Yuriy Sak, Hanna Maliar, Maliar, Oleksiy, —, Sak, Anders Fogh Rasmussen, Putin, Fogh Rasmussen, Oleksiy Goncharenko, Oscar Del Pozo Organizations: AFP, Getty, CNBC, Ukrainian, Google, Defense, NATO, Rasmussen Global, Afp Locations: Blagodatne, Donetsk, Ukraine, Russia, Zaporizhia, Kharkiv, Kherson, Ukrainian, Kyiv, Spanish, San Gregorio, Zaragoza

☆ Ukraine's counteroffensive has been underwhelming so far — but it's low key for a reason
▼ + stars: | 2023-06-16 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +7 min

Anatolii Stepanov | Afp | Getty ImagesWhen Ukraine's counteroffensive started last week there was no fanfare or official announcement, but that wasn't entirely unexpected. "We are trying to find the weakest places in the Russian defense line. Nonetheless, Ukraine's deputy defense minister conceded Wednesday that the fighting was "extremely fierce" and that the counteroffensive had only had "partial success" so far. CNBC contacted Ukraine's defense ministry for further comment and is awaiting a response. "We will see the main punches of Ukrainian forces in the nearest future.

Persons: Anatolii Stepanov, Nick Reynolds, Andrius, Oleksandr Musiyenko, Musiyenko, Matthew Miller, RUSI's Reynolds, they've, it's Organizations: Afp, Getty, Kyiv, CNBC, Defense, Centre for Military, Legal Studies, Velyka Novosilka, Ukrainian, Anadolu Agency, NATO, . State Locations: Zaporizhzhia, Ukraine, Russian, Kharkiv, Kherson, London, Russia, Central, Eastern Europe, Kyiv, Velyka, Donetsk, Bakhmut, Crimea, Donbas, Moscow

☆ Saudi Arabia's Public Investment Fund just reshaped professional golf with the PGA Tour-LIV merger. That's just the start
▼ + stars: | 2023-06-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

The Saudi Public Investment Fund is a government-controlled fund that has $650 billion in assets under management, according to its most recent filing. A state-owned investment fund like the PIF is not unique. Critics of LIV Golf accused the Saudis of backing the new tour as a form of “sportswashing” its reputation. For example it’s not clear exactly how much it invested to start up LIV Golf. CNN has not been able to confirm that report, but what is known is that LIV Golf tournaments have been held on Trump Organization properties.

Persons: petro, LIV Golf, LIV, Yasir Al, Rumayyan, Cristiano Ronaldo, Karim Benzema, ”, Elon Musk, Jared Kushner, Donald Trump’s, Kushner, Mohammed bin Salman, Bin Salman, Jamal Khashoggi, – CNN’s Coy Wire, Jack Bantock, Steve Almasy Organizations: New, New York CNN, Saudi, Saudi Public Investment Fund, Sovereign Wealth Fund, PGA, Soccer, Saudi Aramco, Newcastle United, Saudi Pro League, CNBC, Electronic Arts, EA, Activision Blizzard, Ticketmaster, Carnival Corp, Twitter, Washington Post, CNN, Trump Organization, US State Department, Congress Locations: New York, Europe, Saudi, English, Al, Saudi Arabia, al Qaeda

☆ SEC sues Coinbase over exchange and staking programs, stock drops 13%
▼ + stars: | 2023-06-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

Coinbase stock had already fallen 9% on Monday, after the SEC unveiled charges against rival crypto exchange Binance and its founder Changpeng Zhao. Coinbase's flagship prime brokerage, exchange and staking programs violate securities laws, the regulator alleged in its complaint. The SEC has alleged that at least 13 crypto assets available to Coinbase customers were considered "crypto asset securities" by the regulator. Coinbase's institutional service, Prime, its retail exchange product, and its self-custody Wallet service all offered one or more crypto asset security, the SEC said in its complaint. Coinbase's staking program was also identified as a investment contract and as an unregistered security: The SEC had already taken similar action to force the closure of crypto exchange Kraken's staking service.

Persons: Changpeng Zhao, Gary Gensler, Gensler, Coinbase, Paul Grewal, we'll, Coinbase's Organizations: Securities, Exchange Commission, SEC, CNBC, New York Stock Exchange, Labs, Coinbase, Regulators Locations: New York

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