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☆ Fund manager — who's consistently beaten the S&P 500 — names a key stock to own if recession hits
▼ + stars: | 2024-08-12 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

As fears of a recession grip stock markets and consumers get squeezed, outperforming fund manager Sean Peche is betting on an unexpected retail player: the French multinational Carrefour . Peche, a portfolio manager at Ranmore Fund Management, highlighted the company's defensive nature and ability to grow earnings amid inflation as a key attractive quality. Peche noted that Carrefour has significantly increased its revenue over the past few years while maintaining stable inventory levels. The retailer's total revenue increased from 74.2 billion euros ($80.96 billion) in 2018 to 84.9 billion euros in 2023, according to FactSet data, a rise of 14.4%. The fund manager also highlighted Carrefour's growth in own-label products, which now account for nearly 40% of revenues.

Persons: Sean Peche, Peche, You've, CNBC's, There's, Cedric Lecasble, Stifel, Lecasble, Mahamkali Organizations: Carrefour, Peche, Ranmore Fund Management, Ranmore Global Equity Fund, Tesco, FactSet, UBS Locations: French, U.S, Germany, Switzerland, Carrefour, France, Brazil, Europe

☆ A private-equity takeover is coming for startups
▼ + stars: | 2024-08-12 | by ( Melia Russell | ) www.businessinsider.com time to read: +6 min

The European private equity firm had been eyeing the late-stage startup for five years, impressed by its traction and focus on customer success. The speed of the deal, and the flashy multiple, illustrate how private equity funds are able to swallow startups more often lately. But in the face of rising inflation and interest rates, software customers from tech startups to mom-and-pop shops trimmed their budgets. Andreessen Horowitz plans to invest in the private equity asset class through its family office division. With high interest rates and a liquidity crunch reshaping the landscape, private equity is seizing the moment.

Persons: —, Scott Arnold, AuditBoard, Michael Brown, They're, Brown, Derek Hernandez, Aaron Fleishman, Fleishman, they're, Thoma, Yoni, Rechtman, it's, Catalyst, Andreessen Horowitz Organizations: Service, Business, Battery Ventures, Battery, Tola Capital, Thoma Bravo, Vista Equity Partners, Slow Ventures, Eldridge Industries, Sequoia Locations: Southern California, VCs, Big Tech, Metropolis, North America

☆ Airlines may be struggling but global travel is in an uptrend. These companies are set to benefit
▼ + stars: | 2024-08-02 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Global Jets ETF , whose largest holdings are Southwest Airlines , United Airlines , American Airlines and Delta Air , is off 7.5% just since the end of June. GE Aerospace GE Aerospace is a pure play on the rise of global air travel, according to John Belton, portfolio manager at Gabelli Funds. Just about all 18 analysts polled by LSEG consider GE Aerospace a buy, with five rating it a strong buy. Central to the investment thesis for GE Aerospace is its market leadership. "The air travel industry is a growth industry," Galluccio said.

Persons: Richard Branson, John Belton, Belton, Nicholas Galluccio, Galluccio, Morningstar, that's, Tony Bancroft, Bancroft, there's, wanderlust Organizations: Virgin Group, U.S . Global Jets ETF, Southwest Airlines, United Airlines, American Airlines, Delta Air, Transportation, Boeing, Airbus, Gabelli, International Air Transport Association, AAR Corp, Teton Advisors, Westwood, Equity, GE Aerospace GE Aerospace, Gabelli Funds, New York Stock Exchange, General Electric, GE Aerospace, LSEG, GE, Airlines, Morningstar, Growth, Max, Federal Aviation Administration, Aerospace & Defense ETF, Heico Corporation, Triumph, TransDigm Locations: U.S, Eastern Europe

☆ 3 reasons to invest in America's crumbling infrastructure instead of flashy AI winners, and the 2 cheapest sectors right now: BofA
▼ + stars: | 2024-07-25 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

Traditional infrastructure might not seem as sexy as the newer AI data centers, but Bank of America believes traditional infrastructure has stronger growth prospects than AI infrastructure. The heavy focus on technology and AI has resulted in investors overlooking traditional infrastructure investment. Invest in industrials and materialsIn particular, Bank of America identified the industrials and materials sectors as the best investment opportunity within traditional infrastructure. The industrials sector trades at a relative forward PE of 0.98, and materials trades at 0.92. AdvertisementSome specific industries within those sectors are especially undervalued, such as construction materials and metals & mining.

Persons: —, there's, Savita Subramanian, it's, Reshoring Organizations: Service, Big Tech, American Society of Civil Engineers, Business, Bank of, Bank of America Government, Bank of America, Bank, Invest, Industrial Locations: North America, industrials

☆ Small caps are finally getting their moment in the sun. Here's why managers think the rally can last
▼ + stars: | 2024-07-25 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Instead, small caps spent the first half of this year doing what they've been doing for the last decade: falling behind. The Russell 2000 Value was up 10%, while the Russell 2000 having gained 11%. A sustainable rally Small caps have underperformed for roughly the last decade, but they've typically done better historically. Meanwhile, Teton Westwood's Galluccio thinks it can last much longer: "I think small caps stand to outperform for the next three years." "The last decade was the first time in many, many years when small caps underperformed, leading the talking heads to say that quality, quality, quality is large-cap growth.

Persons: Jerome Powell, they've, Russell, Nicholas Galluccio, It's, You've, I've, Mike Rode, Rode, Galluccio Organizations: Federal, TW Smallcap Equity, Fama, Investments, Panasonic, LSEG Locations: Fama French, De Soto , Kansas

☆ UK's Thames Water's troubles mount as credit rating cut to junk
▼ + stars: | 2024-07-24 | by ( ) www.cnbc.com time to read: +1 min

Britain's largest water provider Thames Water suffered a blow in its battle to avoid renationalisation on Wednesday as credit rating firm Moody's downgraded its corporate family rating (CFR) and its safest tranche of debt to junk. Moody's downgraded Thames Water's CFR to Ba2 - two rungs into 'junk' rating territory - from Baa3, which is an investment grade and something water firms are supposed to maintain as part of their licence requirements. It safest tranche of debt known as senior secured "Class A" bonds were cut to Ba1, which is one notch into junk, while its riskier "Class B" bonds were dumped five notches lower at B3. Moody's said the downgrade followed this month's provisional ruling from British regulator Ofwat that Thames would not be allowed to raise prices as much as it had requested, and because of its "weakening liquidity position". "Almost certainly it will mean special administration for the company," Seaport credit analyst Satish Pulle said, adding that the downgrade had not come as a surprise.

Persons: Moody's, Satish Pulle Organizations: Thames, CFR, Seaport Locations: Ba2, Baa3, Thames

☆ Investors may want to think twice before buying that next hot IPO. Here's why
▼ + stars: | 2024-07-17 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Instead of getting a young company with a lot of growth ahead, IPO investors are getting stocks that are already near the top of their valuations, Morgan Stanley argues. Experts say that despite barriers to investment — like high net worth standards and regulatory scrutiny — the shift to private markets is hard to stop. Deepwater offers venture capital funds that provide access to private market companies at early stages. To be sure, novice investors face hurdles exploring private markets, including steep fees and the lack of a public exchange investment vehicle. He added that public markets are still ripe with opportunity and shouldn't be ignored for the sake of private market investing.

Persons: Morgan Stanley, Edward Stanley, That's, Stanley, who's, Gene Munster, Paul Meeks, Meeks, Munster, shouldn't Organizations: Asset Management, Piper, Deepwater, Management, Federal Locations: Snowflake, Airbnb, London, Munster

☆ Macy’s rejected a takeover offer and is betting on itself
▼ + stars: | 2024-07-15 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Macy’s management ended talks with private investors attempting to take over the company and will pursue its own turnaround strategy to remake the chain. The investors planned to take Macy’s private and consider spinning off its real estate assets or separating its online operations from brick-and-mortar stores. But Macy’s rejected a previous offer to buy the company at $21 a share in January. In March, the investors upped its offer to $24 a share, and Macy’s agreed to enter into talks about the bid. Macy’s will instead stick with its own strategy, led by new CEO Tony Spring, which includes closing underperforming Macy’s stores and investing in its luxury Bloomingdale’s and Bluemercury chains.

Persons: Macy’s, Tony Spring, Neil Saunders, ”, –, CNN’s Chris Isidore Organizations: New, New York CNN, Arkhouse Management, Brigade Capital Management, Investor, Sears, Walmart, Target Locations: New York

☆ Stocks, property, bonds, the pound: Here’s what a new Labour government means for investing in the UK
▼ + stars: | 2024-07-05 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +7 min

The Labour party's pledge, for example, to increase taxes on the compensation that private equity fund managers received raised a few eyebrows, and led to questions on what this could mean more broadly. In a note Friday, analysts at Jefferies said, despite concerns raised by a strong showing for the right-wing Reform UK Party, the Labour Party's U.K. election win would help make the U.K. appear "relatively stable." "A widely predicted Labour win in the UK could usher in an era of greater stability for the UK … which should help bolster investor sentiment towards the UK," she said. "U.K. bank stocks in the end are one of the biggest proxies for U.K. economic growth," he said. If results are as expected, attention will shift away from the U.K. election quickly, Shreyas Gopal, strategist, and Sanjay Raja, senior economist at Deutsche Bank, said in a note published Wednesday.

Persons: Vuk Valcic, hasn't, Jefferies, James McManus, Susannah Streeter, Hargreaves Lansdown, McManus, Liz Truss, Streeter, Richard Donnell, Nutmeg's McManus, CNBC's Silvia Amaro Friday, Mark Fielding, Fielding, Shreyas Gopal, Sanjay Raja, BoE, Francesco Pesole, Pesole Organizations: City of, Labour Party, Conservatives, U.S ., Labour, CNBC, Stock, Reform UK Party, Hargreaves, Deutsche Bank, ING, Bank of England, ECB Locations: Bishopsgate, City, City of London, London, France

Robert Smith, founder, chair and CEO of Vista Equity Partners, speaks at the Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2016. With this debt, Vista could generate strong returns if Pluralsight's business performed well, according to the sources. They also show that Vista propped up Pluralsight by allowing it to borrow $162.5 million from its private equity fund. "The company experienced rapid deterioration of its business in the first quarter," Vista wrote in a fund document dated May 28. In a May 28 update to fund investors, Vista said Pluralsight's equity value went from $1.5 billion to zero in the first quarter of 2024.

Persons: Robert Smith, Lucy Nicholson, Vista, Pluralsight, Goldman Sachs, Golub, Gustavo Schwed, NYU Stern, It's, Steven Kaplan, Kaplan, Chris Walters, Aaron Skonnard, Walters, Skonnard, KBRA, Milana Vinn, Greg Roumeliotis, Dave Gregorio Organizations: Vista Equity Partners, Milken Institute Global Conference, REUTERS, Vista Equity, Reuters, Cloud, U.S . Securities, Exchange Commission, Vista, NYU, Chicago Booth School, Business, Thomson Locations: Beverly Hills , California, U.S, Vista, BlackRock, Oaktree, Pluralsight, New York

☆ How investors can stay protected with emerging market opportunities
▼ + stars: | 2024-06-20 | by ( Natalie Zhang | ) www.cnbc.com time to read: +1 min

Investors may want to consider hedging their emerging market plays, according to one exchange-traded fund expert. Ben Slavin, global head of ETFs and managing director at BNY, said that while there have been notable inflows into Indian, European and Japanese ETFs, investors should account for the strength of the U.S. dollar. The iShares MSCI Japan ETF (EWJ) gives investors exposure to Japanese equities but does not account for fluctuations between the Japanese yen and the U.S. dollar. The WisdomTree Japan Hedged Equity Fund (DXJ) , which gives exposure and accounts for fluctuations, has grown more than 20% in that same time frame. And ETFs have those different options available for investors to allocate one way or the other," Slavin said.

Persons: Ben Slavin, Slavin, CNBC's Organizations: U.S ., Japan Hedged Equity Locations: Japan

☆ A lawyer dreamed of disrupting the legal industry with private equity. It turned into a nightmare.
▼ + stars: | 2024-06-18 | by ( Jack Newsham | ) www.businessinsider.com time to read: +10 min

And he'd just launched a venture with the Miami investment firm 777 Partners that he hoped would revolutionize the legal business. Arizona had recently begun permitting nonlawyers to invest in law firms, which is banned in nearly every other state. AdvertisementAllowing private-equity riches to pour into law firms looked like it could be a game changer. AdvertisementGerman said 777 didn't supply money on the terms or timeline it promised and planned. Funding and marketing firms were cutting deals with law firms in nonpublic arrangements for years before Arizona changed its rules, she added.

Persons: Steve German, nonlawyers, he'd, BerlinRosen, Uber, Andy Kvesic, Arizona's, Josh Wander, Semafor, Steven Pasko, Lynda Shely, Shely, Ed Gehres, Damien Alfalla Organizations: Service, Partners, Scout Law, Scout, Regulators, DOJ, Globo Locations: Phoenix, Miami, Arizona, State

Steve Cohen, chairman and CEO of Point72, speaking to CNBC on April 3, 2024. The firm is aiming to raise $1 billion, with Cohen himself and Point72 employees expected to contribute, the person added. He has called AI a "really durable theme" for investing, comparing the rise to the technological developments in the 1990s. I think the markets are discounting some of what we … think AI is going to do for companies," the Point72 founder said in a CNBC interview in April. Cohen said his investment firm found a way to save $25 million by using large language models such as ChatGPT to improve efficiency.

Persons: Steve Cohen, Steve Cohen's Point72, Cohen, Point72 Organizations: CNBC, Bloomberg News, Nvidia, Mets

☆ Family offices are planning big investments in private companies
▼ + stars: | 2024-06-10 | by ( Robert Frank | ) www.cnbc.com time to read: 1 min

Family offices are increasingly becoming their own private equity funds and investing in companies directly, according to a new survey. A majority (62%) of family offices made at least six direct investments last year, where they buy a stake in a private company or provide lending, according to the survey of family offices by BNY Mellon Wealth Management. An even larger number of family offices (71%), plan to make the same number or more direct investments in 2024. With the number of family offices tripling since 2019, and their total assets reaching an estimated $6 trillion or more, the flood of family office money into private companies could reshape private markets and the private equity industry. "Direct investment presents exciting opportunities for family offices to leverage their unique competencies," according to the report.

Organizations: BNY Mellon Wealth Management

☆ With yields around 7%, fallen angel ETFs have outperformed — but come with risks
▼ + stars: | 2024-06-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Just two exchange-traded funds invest in the space — iShares Fallen Angels USD Bond ETF (FALN) and VanEck Fallen Angel High Yield Bond ETF (ANGL). FALN 1Y mountain iShares Fallen Angels USD Bond ETF one-year performance The iShares Fallen Angels USD Bond ETF and VanEck Fallen Angel High Yield Bond ETF track two different indexes. ANGL seeks to replicate the ICE US Fallen Angel High Yield 10% Constrained Index, while FALN tracks the Bloomberg Barclays U.S. High Yield Fallen Angel 3% Capped Index. In comparison, the Bloomberg U.S. High Yield Index has a 4.64% annualized return over the past 10 years, the firm said. Be aware of risks Fallen angel portfolios are generally much higher quality than their high-yield peers, said Morningstar's Evens.

Persons: —, Zachary Evens, Evens, Jared Woodard, Stephen Laipply, Morningstar's, Laipply, FALN Organizations: Angels, Bond, SEC, Morningstar, Chartered Alternative Investment, Association, Bloomberg Barclays, Bank of, Bank of America, U.S, ICE, Bloomberg Barclays U.S ., Bloomberg U.S, Corporate, Broad Locations: Bank, BlackRock

☆ Court Strikes Down S.E.C.’s Fee Disclosure Rule for Funds
▼ + stars: | 2024-06-05 | by ( Matthew Goldstein | More About Matthew Goldstein | ) www.nytimes.com time to read: +1 min

A federal appellate court on Wednesday struck down a Securities and Exchange Commission rule intended to provide investors in hedge funds, private equity funds and venture capital firms with more information about fees and expenses. The unanimous decision from the U.S. Court of Appeals for the Fifth Circuit in New Orleans sided with a group of associations representing the private fund industry in ruling that the S.E.C. exceeded its authority with the rule, which was enacted in August. In its decision, the appeals court agreed with their argument, saying that the regulator had overstepped with its rule, which was based on a law meant to protect everyday investors, who typically invest in mutual funds and other public securities, rather than investors in hedge fund and private equity firms. said in a statement that it was reviewing the decision and would “ determine next steps as appropriate.”

Organizations: Securities and Exchange Commission, U.S ., Appeals, Fifth Circuit Locations: New Orleans

☆ U.S. appeals court rejects SEC oversight rule for private equity, hedge funds
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: +3 min

Circuit Court of Appeals decided that the SEC exceeded its authority by adopting the rule in August 2023. The latest decision addressed rules covering private equity funds, hedge funds, venture capital funds and managers of funds for institutional investors such as pension funds and endowments, among others. Industry critics said this lack of transparency has hurt ordinary investors with indirect exposure to private funds, such as through pension and retirement plans. Private funds often attract well-heeled, sophisticated investors, and as a result have received less federal regulatory oversight than investments geared toward ordinary investors. In announcing the new rules, SEC Chair Gary Gensler said they would benefit "all investors, big or small, institutional or retail, sophisticated or not."

Persons: Gary Gensler Organizations: U.S . Securities, Exchange Commission, Securities and Exchange Commission, Circuit, Appeals, SEC, U.S, Democratic, Republican, National Association of Private Fund, Alternative Investment Management Association, American Investment Council, Trading Association, Association, National Venture Capital Association Locations: Washington ,, U.S, New Orleans

☆ A DC basic income program is letting people choose the amount on their checks. A participant said $1,400 a month is what she needs to pay medical bills.
▼ + stars: | 2024-05-31 | by ( Allie Kelly | ) www.businessinsider.com time to read: +6 min

And since last fall, she's been a participant in a Washington DC-area guaranteed basic income program. With her husband's SSDI disability benefit, the couple lives on a fixed income of under $2,000 each month, which is separate from their guaranteed basic income. Basic income has alleviated some of her financial anxiety, but she said "it's still not enough" to feel stable. The basic income program Kelly participates in is one of over 100 pilots across the US. Have you benefitted from a guaranteed basic income program?

Persons: —, Deborah Ogarro Kelly, Kelly, she's, it's, GBI, hasn't, We've Organizations: Service, Washington DC, Business, SNAP, Economic Security, Community Foundation's Health Equity Fund, City, BI, Republican Locations: Washington, The City, City

☆ For some millennials, the reality of their retirement plans is that they're a fantasy
▼ + stars: | 2024-05-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The documentary chronicles the rise and fall of the movie-ticket-subscription company MoviePass, and is based on award-winning reporting from Business Insider . The big storyRetirement mathGetty Images;Alyssa Powell/BIFor some millennials, the reality of their retirement plans is that they're a fantasy. AdvertisementIt's not the first time we've gotten troubling data about millennials' retirement plans. But it's not just a lack of savings working against millennials' plans of riding off into the retirement sunset. AdvertisementAnd if you're hoping for a Hail Mary in the form of a fat inheritance to jumpstart your retirement plans, that's not looking great either.

Persons: —, MovieCrash, Alyssa Powell, Jacob Zinkula, William Edwards, we've, it's, millennials, Hail Mary, that's, Juliana Kaplan, It's, Johannes Simon, Neel Kashkari, Sam Altman, Justin Sullivan, Oliver Mulherin, Scarlett Johansson, Altman, Jensen Huang, Adam Neumann, Neumann, WeWork, Moviegoing, there's, BI's Peter Kafka, Sheryl Sandberg, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, HBO, Max, Business, Hail, Reserve Survey, Consumer, Wall, Minneapolis, UBS, Google, Nvidia, BI, Hollywood, HP Locations: Swiss, BI Denmark, New York, London

☆ Adam Neumann gives up on his plan to buy back WeWork
▼ + stars: | 2024-05-28 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

Adam Neumann is giving up on plans to re-acquire WeWork. He called a different bankruptcy plan that cut him out "unrealistic and unlikely to succeed." AdvertisementAdam Neumann is abandoning his plans to re-acquire WeWork. Last month, the company announced a separate plan to emerge from bankruptcy that cut him out of its future. "Instead, the company looks to be emerging from bankruptcy with a plan that appears unrealistic and unlikely to succeed."

Persons: Adam Neumann, —, Neumann, he's, WeWork Organizations: Service

☆ How to Reverse America's Urban Doom Loop: Use Abandoned Steam Pipes
▼ + stars: | 2024-05-28 | by ( Adam Rogers | ) www.businessinsider.com time to read: +9 min

Instead, it's drawing a feed of blistering, high-pressure, vaporized water from a century-old loop of steam pipes that runs beneath the city's streets. Like dozens of cities, New York has a loop of steam pipes under its streets that could help reverse the urban doom loop. Lindsey Nicholson/UCG/Universal Images Group via Getty ImagesIn July, Vicinity is installing what will be the nation's first zero-carbon urban steam loop. AdvertisementThe most convincing evidence that steam loops make economic sense comes from who's getting into the district-energy game. Meaning: Can we use steam loops to fix the urban doom loop before the climate doom loop dooms us all?

Persons: I've, Nobody, Francisco, Kevin Hagerty, Lindsey Nicholson, Blake Ellis, Burns, McDonnell, Tim Danz, it's, Danz, Hagerty, Decarbonizing, COVID, Costa Samaras, They'll, Adam Rogers Organizations: California, Vicinity Energy, Getty, Cal, Antin Infrastructure Partners, KKR, Scott Institute for Energy, Innovation, Carnegie Mellon, Business Locations: Francisco, California, New York City, Boston, Washington, New York, England, Chicago, Miami, San Diego, Portland, Milwaukee

☆ Japanese stocks are rallying this year. But one key group of investors is missing
▼ + stars: | 2024-05-24 | by ( Hakyung Kim | ) www.cnbc.com time to read: +6 min

Japanese stocks are enjoying a banner year, with foreign investors plowing into the market. Japanese investors are hesitant Japanese investors have long been skeptical of the local stock market after the asset price bubble burst in the early 1990s. Another reason Japanese investors may not be as keen on their domestic market could be the yen falling sharply. Outlook for Japanese stocks still strong Despite the recent bout of selling from local investors and the market's recent struggles, many global investors remain bullish on Japanese stocks. This is another "slow-moving but important tailwind to Japanese stocks," with more room to run, according to Zachary Hill, Horizon Investments head of portfolio management.

Persons: Goldman Sachs, Morgan Stanley, Kishida, Julian McManus, Janus Henderson, Bernstein, Zachary Hill, Raymond Chan, Chan, McManus, he's, Warren Buffett Organizations: Japan Exchange Group, Nikkei, Bank of Japan, U.S ., Ministry of Internal Affairs and Communications, Investment, Association, Prime, Nippon, Savings, U.S, Horizon Investments, Federal Reserve, Asia Pacific, Allianz Global Investors, Mitsui, Itochu, Sumitomo Locations: U.S, Japan, Asia

☆ How private equity rolled Red Lobster
▼ + stars: | 2024-05-24 | by ( Gretchen Morgenson | ) www.cnbc.com time to read: +9 min

In this photo illustration, a cooked lobster is displayed on a plate at a Red Lobster restaurant on May 20, 2024 in Austin, Texas. Under the terms of the sale, Red Lobster would also see regular rent increases of 2% a year, the release noted. "All of the people who were supplying Red Lobster, all of the people who are essentially providing services to Red Lobster, the small businesses in the communities affected by mass layoffs, they are next in line, they are experiencing the ripple effect." Sen. Edward Markey, a Democrat from Massachusetts, where eight hospitals operated by bankrupt Steward Health Care are, recently held hearings on private equity and health care. Private equity is emerging in all parts of our economy, Markey added, but its most profound impact is in health care.

Persons: didn't, Josh Olshansky, leaseback, Red, Moody's, Andrew Park, Oscar, Robert Reich, Bill Clinton, America's, Reich, Austin Hurst, Hurst, Sen, Edward Markey, Markey Organizations: Sears, Mervyn's, Steward, Manor Care, Companies, Golden, American Realty Capital Partners, Realty, Lobster, Financial Reform, Thai Union Group, Thai Union, Steward Health, Department of Health, Human Services Locations: Austin , Texas, Canada, San Francisco, Golden, Bangkok, Thai, Arizona, Massachusetts

☆ CNBC's Inside India newsletter: The secret of the stock market rally
▼ + stars: | 2024-05-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. "This particular product, and broadly speaking, the domestic investor, has driven the upsurge in the Indian stock markets," Mahesh Nandurkar, head of India research at Jefferies, told CNBC. For instance, of the nearly 4,900 actively traded India-listed stocks, 300 stocks had a fall in revenue in the last two consecutive financial years. Foreign investors have historically had a significant influence on local equity markets. For now, the savings directed into equity markets are still a tiny proportion of the overall savings Indians put away annually.

Persons: it's, Mahesh Nandurkar, Hermes, Jonathan Pines, Deepak Jasani, Jefferies, Nandurkar Organizations: Association for Mutual Funds, SBI Equity, Opportunities, ICICI Prudential, Advantage Fund, Jefferies, CNBC, Federated Hermes, HDFC Securities Locations: India, Japan

☆ AI infrastructure startup CoreWeave raises $7.5 billion in debt deal led by Blackstone
▼ + stars: | 2024-05-17 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Fresh off a $1.1 billion equity funding round, artificial intelligence infrastructure startup CoreWeave has raised $7.5 billion in debt to more heavily invest in its cloud data centers. That means CoreWeave, backed by Nvidia, is going up against the world's top cloud infrastructure operators, including Amazon and Google . On its website, CoreWeave claims to have lower on-demand prices than any major cloud company. Even Microsoft , the world's second-largest provider of cloud infrastructure, has started relying on CoreWeave to help supply OpenAI with the computing power it needs. Such GPUs were used as collateral in a $2.3 billion debt round last year, Reuters reported.

Persons: Michael Intrator, CoreWeave, ChatGPT, Colette Kress Organizations: CNBC, Investors, Nvidia, Amazon, Google, Microsoft, Citigroup, Reuters Locations: Carlyle, BlackRock

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