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☆ Banks are reporting a tenfold surge in digital scams, cybersecurity firm BioCatch says
▼ + stars: | 2024-11-13 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

U.S. and Canadian banks reported a tenfold surge in digital scams this year as criminals flock to techniques that rely on duping customers into sending them money, according to cybersecurity firm BioCatch. Banks are under pressure to kick criminals off their platforms and compensate more victims as regulators and lawmakers focus on the harm done by digital scams. Customers of the three banks reported a combined $166 million in Zelle transactions were fraudulent in 2023. BioCatch declined to provide a specific number for reported scams, citing client confidentiality. In another sign of the cat-and-mouse dynamic of cybercrime, BioCatch clients reported 59% fewer fraudulent account openings.

Persons: Tom Peacock, Fraudsters, Peacock, Banks, Wells Fargo, Zelle, BioCatch Organizations: Global, CNBC, American Express, Barclays, HSBC, JPMorgan Chase, Bank of America, Consumer Financial, Services Locations: Tel Aviv, Israel, Wells, U.S

☆ ‘Corpse flower:’ Thousands in Australia line up to see stinking plant that only blooms once a decade
▼ + stars: | 2024-11-12 | by ( Jessie Yeung | ) edition.cnn.com time to read: +3 min

CNN —In the Australian city Geelong, just south of Melbourne, thousands are lining up for the rare chance to see – and smell – an unusual plant. It’s the so-called “corpse flower,” or Amorphophallus Titanum (often shortened to Titan Arum), named after the putrid stench it releases when it blooms to attract pollinators like beetles and flies. This plant was only gifted to Geelong Botanic Garden in 2021 from the State Herbarium in Adelaide, South Australia, and for years horticulturalists have been watching and waiting for signs of a nascent bud. So far, visitors have described the smell as similar to a dead mouse or a stinky pond, the city website said. The plant can live over 30 to 40 years – meaning it only blooms a handful of times in its entire lifetime.

Persons: Reese McIlvena, Ali Wastie Organizations: CNN, Geelong, Nine, Geelong Botanic Garden, State Herbarium, Geelong Botanic Gardens, Greater Geelong, Nine News, IUCN Locations: Melbourne, Adelaide, South Australia, ” City, Greater, Indonesia, California

☆ How the ultra wealthy travel in Dubai
▼ + stars: | 2024-11-11 | by ( ) www.cnbc.com time to read: 1 min

Dubai went from a sleepy gulf port to a glittering jewel in a single generation. Known as the city of gold, more than 17 million visitors flock to Dubai per year to sample the luxury the emirate has to offer. But for those looking for a truly opulent experience, the gulf nation has some truly dazzling gems. From the five-star hotel used by Beyoncé to a luxurious night under the stars, CNBC's First Class shows you how to eat, stay and shop like the super rich in Dubai. Watch the video above for more.

Locations: Dubai

☆ Hong Kong: Why Russians with wads of cash flock to Apple stores in this Asian hub
▼ + stars: | 2024-11-09 | by ( Chris Lau | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —When the new iPhone 16 went on sale, locals couldn’t help but notice some less familiar faces flocking to Hong Kong’s Apple stores: Russians holding piles of cash. “We want to buy as many as possible,” one Russian buyer, Nick Alexenkov, told CNN outside the Apple store in Tsim Sha Tsui, a busy shopping district in Hong Kong. Alexenkov, the iPhone purchaser in Hong Kong, said he expected to turn a profit of up to 25% for each phone despite offering to pay 12% above the retail price to acquire those phones in Hong Kong. A man holds an Apple iPhone 16 Pro Max ahead of the launch of sales of the new iPhone 16 series smartphones in a store in Moscow, Russia September 20, 2024. A man from Hong Kong, who tried to sell two 1-terabyte Pro Maxes, complained that, at $2,027 each, the Russian buyers weren’t offering enough.

Persons: Nick Alexenkov, Vladimir Putin, ”, Max, Alexenkov, Evgenia Novozhenina Organizations: Hong Kong CNN, Kong’s Apple, CNN, Apple, Mobile, MTS, ” Reuters, Reuters Locations: Hong Kong, Tsim Sha, Ukraine, Russia, Moscow, Eldorado, Russian, Central

TOKYO — Mount Fuji has finally gotten its iconic snowcap, meteorologists in Japan said Thursday, more than a month later than it did last year and the latest of any year in 130 years of record-keeping. The previous record was in 2016, when Mount Fuji’s first snowfall arrived on Oct. 26, while last year the first snow was on Oct. 5. Mount Fuji, a national symbol of Japan, is a pilgrimage destination and UNESCO World Heritage site that attracts hikers from all over the world. It usually starts getting snow in early October, about a month after the end of the summertime hiking season. Arata Yamamoto reported from Tokyo, and Mithil Aggarwal reported from Hong Kong.

Persons: Mount, Fuji’s snowless, ” Shigeru Kiryu, Arata Yamamoto, Mithil Aggarwal Organizations: Mount, Japan Meteorological Agency, UNESCO, Associated Press Locations: TOKYO, Japan, Kofu, Tokyo, Hong Kong

☆ How atheist chaplains provide spiritual care for nonbelievers
▼ + stars: | 2024-11-07 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +12 min

In these conversations with patients who are wary of religion, Callahan slips in another detail: He’s an atheist himself. Callahan is one of a growing number of openly atheist chaplains working in institutions around the country. Though the term “atheist chaplain” might sound like an oxymoron, he doesn’t see a contradiction between his beliefs and the work of tending to the human spirit. Other atheist chaplains don’t shy away from religion at all, instead helping people explore faith and spirituality in nontraditional ways. There may be few atheist and nonreligious chaplains right now, but as Callahan sees it, their numbers only stand to grow.

Persons: Jason Callahan, Callahan, —, nonbeliever, ”, David, Muhammad Ali, Malcolm X, Tupac Shakur, “, ” Callahan, haven’t, Michael Skaggs, Greg Epstein, ” Epstein, Epstein, he’s, wouldn’t, don’t, Vanessa Gomez, Skaggs, agnostics, Gomez, Brake, “ There’s Organizations: CNN, Pew Research, Virginia Commonwealth University Massey Cancer Center, VCU, “ Chaplaincy, Christianity Chaplaincy, Harvard University, MIT, Harvard, Adobe Stock, Technology, University of Southern, Adobe Locations: Christianity, New York, Flushing , Queens, University of Southern California

☆ Nepal’s historic, tranquil forest retreat on the outskirts of Kathmandu
▼ + stars: | 2024-11-05 | by ( Jack Bantock | ) edition.cnn.com time to read: +5 min

Just a 25-minute drive east from the city center is Gokarna Forest Resort, a five-star luxury retreat and golf course embedded within 470 acres of protected sanctuary jungle, sheltering a rich array of wildlife. Though a golf course had been present since 1999, the development saw it blossom into the undulating 6,755 yard, 18-hole setup that sits as the crown jewel of the resort today. “The uniqueness of the golf course is what really inspires me, and I have been to at least 200 or 250 golf courses around the world. It is commonplace to glimpse as many as 400 spotted and barking deer bounding across the course’s fairways on any given day, Acharya says. “That is a big challenge for the golf course and for me to maintain, because they run on the greens,” he said.

Persons: Deepak Acharya, Acharya, ” Acharya, “, Gokarna, ”, greenkeepers, Kushe, Gokarneshwor, Prakash Mathema, Taleju Organizations: CNN, Beach, Leopards, Getty, Jagannath, Chandragiri Locations: Nepal, Kathmandu, tranquillity, Gokarna, AFP, ”, Everest

☆ This tactic to avoid income taxes without moving to Florida could surge thanks to a 'silver tsunami'
▼ + stars: | 2024-11-02 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +8 min

Dan Griffith of Huntington Bank expects ING trusts will surge in popularity with dealmaking on the rebound coinciding with a "silver tsunami." However, Wyoming and South Dakota are also options as they do not tax trust income or capital gains and protect trust assets from creditors. "This can apply even if they don't live in a state with a state income tax." Since beneficiaries do have to pay state income taxes — if applicable — when they receive distributions. ING trusts cannot be used to defer income taxes on salaries or income from tangible assets in the state.

Persons: —, Dan Griffith, dealmaking, You've, Griffith, Bank of America's Timothy Herbst, It's, it's, Bob Lord, They're, Steve Oshins, Herbst, Oshins Organizations: Service, Huntington Bank, ING, Bank of America's, Patriotic Millionaires Locations: Florida, Texas, Nevada, York, California, North Carolina, Delaware, , Wyoming, South Dakota, Oregon, Ohio

☆ Residents of a picturesque London street clash with Airbnb after tourists flock to home turned into 'Paddington' film set
▼ + stars: | 2024-11-02 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +4 min

Airbnb is running a competition for families to win a free stay in a house in Primrose Hill, London. Locals told Business Insider they're tired of tourists flocking to the street. AdvertisementAirbnb's plan to host a competition for an overnight stay on a picturesque street featured in the "Paddington" movies has seemingly not gone down well with local residents. AdvertisementIn a press release for the competition, Airbnb said bookings for the property would open on November 3. ReutersIt's not the first time Airbnb has created immersive stay experiences based on popular movies and television shows.

Persons: they're, —, Barbie Dreamhouse, I'm, Eve Crosbie, Airbnb, Reuters It's, Ted Lasso Organizations: Locals, Service, Gardens, Paddington, Browns, Business, Camden New Journal, Community Association, Windsor Gardens, British Film Institute, Reuters, Apple Locations: Primrose Hill, London, Primrose, Paddington Bear, Peru, Malibu, Chalcot, Windsor, Richmond , London

☆ Inside Realtors' Fight for Control of America's for-Sale Home Listings
▼ + stars: | 2024-10-31 | by ( James Rodriguez | ) www.businessinsider.com time to read: +17 min

Agents might be emboldened to share listings among private networks of in-the-know brokers rather than market them to everyone. And if the goal is a transparent market that prioritizes consumers, the clear-cooperation policy is a flawed tool. Redfin estimated that in the second quarter of 2019, about 1.7% of listings, or some 18,000 homes, were likely pocketed. In a hot market, it's easier for brokers to market a home off the databases and still get it sold. What has changed since the rule went into effect is brokerages' eagerness to control access to home listings.

Persons: Smart, —, they'll, Brian Boero, Goliath, Davids, MLSes, doesn't, weren't, Joe Schmo, Saul Klein, Howard Hanna's, Howard Hanna IV, Robert Reffkin, Mauricio Umansky, Redfin, Glenn Kelman, Kelman, haven't, Victor Lund, There's, Buckle Organizations: MLS, National Association of Realtors, NAR, Coldwell, Network, San Diego, Compass, Service, of Justice

☆ U.S. election won't be an 'uneventful event' for global markets, UBS chief says
▼ + stars: | 2024-10-30 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

The outcome of upcoming elections in the world's leading economy is set to ripple into global markets no matter who clinches leadership of the White House, UBS head Sergio Ermotti told CNBC on Wednesday. "We do expect, no matter who wins and the outcome, we do expect some market movements. Markets are bracing as voters flock to the polls on Nov. 5, with the U.S. holding both the world's foremost reserve currency and the largest stock exchange by market capitalization. Under a [Donald] Trump presidency, we see that as being inflationary on the back of his focus on immigration and on tariffs. But we don't see any outcome as being particularly growth positive.

Persons: Sergio Ermotti, CNBC's Annette Weisbach, Ermotti, Donald, Trump, Arun Sai, CNBC's Organizations: White House, UBS, CNBC, Swiss, U.S, U.S . Federal, . Treasury, Pictet Asset Management, Trump Locations: U.S

☆ Foreign investors flock to flagship Saudi economic conference — but face less free-flowing cash
▼ + stars: | 2024-10-28 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

A delegate arrives at the King Abdulaziz Conference Centre in Saudi Arabia's capital Riyadh to attend the Future Investment Initiative (FII) forum. The kingdom's $925 billion sovereign wealth fund, the Public Investment Fund, saw its assets jump 29% to 2.87 trillion Saudi riyals ($765.2 billion) in 2023 — and local investment was a major driver. "Value meaning hiring, developing the asset management ecosystem, creating new products, bringing in talent, and investing in Saudi capital markets also. Oil prices and the Saudi economy appear to so far have stayed largely unscathed, dropping 4% early Monday after Israel's weekend strike on Iran. A key reason for that may be the rapprochement deal the kingdom signed with Iran, brokered by China, in March 2023.watch now

Persons: Nureldine, it's, Omar Yacoub, Yacoub, Fadi Arbid, Brent, Arbid, Yemen's, Israel Organizations: King Abdulaziz Conference Centre, Future Investment Initiative, Afp, Getty, Investment Initiative, CNBC, U.S, ABS Global, Public Investment Fund, Saudi, Saudi Arabia's, Amwal Capital Partners, OPEC, Eastern, Ritz, Carlton, Israel Locations: Saudi Arabia's, Riyadh, Saudi, Saudi Arabia, —, Dubai, Carlton Riyadh, Gaza, Israel, Lebanon, Iran, Tel Aviv, China

☆ Gold prices have surged in 2024. Here’s how to get in on the gold rush
▼ + stars: | 2024-10-27 | by ( Erika Tulfo | ) edition.cnn.com time to read: +4 min

“Buying gold has never been easier and more accessible.”While gold, typically invested in as a hedge against inflation, has shined this year, there are plenty of things to know before investors join the gold rush. How do you actually go about buying gold? Another consideration when buying gold in the retail market is how the sticker price of the bullion compares to the spot price of gold. But Cavatoni advises having a “round-trip mentality” when purchasing physical gold, emphasizing the importance of the selling stage as much as the purchase process. On the other hand, gold-backed ETFs free consumers from the considerations that need to be made when purchasing physical gold.

Persons: ”, Joseph Cavatoni, “, Cavatoni, “ It’s, ” Cavatoni, prudently Organizations: CNN, Costco, World Gold, of Labor Statistics Locations: China, India, Turkey

☆ VW's Scout Reveals Its First Rugged EVs to Take on Rivian
▼ + stars: | 2024-10-26 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Scout unveiled pre-production models of the Terra pickup truck and Traveler SUV at an event in Nashville this week. The electric Scout Terra pickup truck and Traveler SUV. AdvertisementA pre-production model of the Scout Terra pickup truck. Scout MotorsScout's rugged trucks are likely to compete directly with outdoorsy EV brand Rivian, which also offers electric pickup trucks and SUVs. The front seat of the electric Scout Terra pickup truck.

Persons: Rivian's R1T, —, Scout, Rivian, R1T, Scout's Organizations: VW, Scout, Service, Scout Motors, Terra, Scouts, outdoorsy, Volkswagen, EV Locations: Nashville

Fifty-five hard-to-miss nuns of the Benedictine Sisters of Erie. These sisters don’t deserve to be put down by some misinformation that we’re a sham, that we’re a fraud,” said the prioress, Sister Stephanie Schmidt. Sister Stephanie Schmidt speaks during an interview with CNN, in Erie, Pennsylvania. Because the Benedictine Sisters don’t sit still. “If the 53 people registered at this address are legal voters… then I encourage them to participate in their right to vote,” Maloney posted.

Persons: Donald Trump, Joe Biden, Cliff Maloney, Pennsylvania Chase, “ We’re, Annette Marshall, I’ve, “ We’ve, ”, Stephanie Schmidt, Maloney, Al Schmidt, Sister Schmidt, Barack Obama, Diane Rabe, don’t, Sister Marshall, Theresa Zoky, Sister Linda Romey, “, Diane Cook, they’d, Sister Cook, Trump, Roger Stone, ” Maloney, Elon Musk, Tesla, Sisters don’t, Maloney “, …, We’re, they’ll Organizations: Pennsylvania CNN, Republican, Benedictine, CNN, Trump, Erie, Biden, Democratic, Trump . America PAC, Action, America PAC retweeted, Sisters Locations: Erie, Pennsylvania, East, Erie County, Erie , Pennsylvania, “, North Carolina , Michigan, Nevada, Wisconsin

His father, Frank Radcliff, is the church's senior pastor. The date of offense for the charges against Radcliff is June 27, 2014, according to court records. But the church, which is cooperating with the police investigation, shed more light on what Radcliff is accused of doing in its statement. An ardent supporter of former President Donald Trump, Radcliff also posted a video on YouTube of himself performing his patriotic anthem “I’ll Stand” in November 2019 as part of the convocation at Liberty University. Donald Trump Jr. can be seen in the background along with then Liberty University President Jerry Falwell Jr.

Persons: moonlights, Zachary Radcliff, Frank Radcliff, “, Radcliff, Zachary, ” Radcliff, Ann Arbor, ”, Donald Trump, Donald Trump Jr, Jerry Falwell, Kimberly Guilfoyle, Becki Falwell, Tim Lee, Charlie Kirk Organizations: Oakwood, Michigan State Police, Liberty Music Group, Liberty University’s School of Music, Conservative Political, YouTube, Liberty University Locations: Michigan, Ypsilanti, Ann Arbor suburb, Ann, Saline, Radcliff

PHILADELPHIA — For 30 years, the Rev. Alyn E. Waller has led his flock at Enon Tabernacle Baptist Church, the city’s largest Black congregation. But on Saturday, the good pastor led another kind of assembly: 100 Black men, mostly clad in leather, astride a pack of snarling motorcycles. “Here we are in Philly, 100 fellas on bikes in the city and the police are helping us, not chasing us,” Waller said, a chorus of hogs, trikes and slingshots rising around him. “We’ve got Black Bikers Vote, Black Men Vote and then just people who care about democracy getting together on a beautiful day to ride bikes through some of the areas in Philadelphia that need to be reminded to exercise their franchise,” Waller said.

Persons: Alyn E, Waller, ” Waller, “, ”, Harley, Davidson, “ We’ve Organizations: PHILADELPHIA, Baptist Church, Black Locations: Philly, Black, Philadelphia

The Democratic National Committee is using the last stretch of Taylor Swift’s Eras Tour to urge young people to vote for Vice President Kamala Harris. In conjunction with her shows, the DNC announced that it is launching a Taylor Swift-themed “I Will Vote” campaign across Florida and other battleground states. Ads for the “I Will Vote” campaign will begin appearing across Miami on billboards, including a mobile billboard on a boat near Hard Rock Stadium. The advertisements will encourage young voters to embrace their “Kamala era,” the DNC said in its announcement. Before Swift backed the Democratic ticket, many of her fans had already formed the group Swifties for Kamala — which is unaffiliated with Swift, the DNC or the Harris campaign — to raise money for Harris.

Persons: Kamala Harris, Swift, Harris, Taylor Swift, Trump, Gen, Kirby Lee, Rosemary Boeglin, “ We’re, Harris ’, Donald Trump’s, Boeglin, Kamala, ”, Vote.org, Swift’s, Kamala —, — Organizations: Democratic National, Democratic, DNC, NBC News, AP, Swift Locations: Miami Gardens , Florida, Florida, Miami Gardens, Fla, Miami, Instagram

☆ You can now buy a $1,089 platinum bar from Costco—here's what to know before investing
▼ + stars: | 2024-10-18 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

Recently, though, they've found something new to love about the wholesaler: precious metals. But it's far from the first time precious metals have been in vogue, especially among people looking to invest in them. In other words, with platinum not having changed much in price during gold's recent rise, precious metals investors may be wondering if it's the next big thing. But potential investors in gold or platinum should know some key differences. How to invest in precious metals

Persons: they've, Costco's, Trevor Yates, Rob Haworth, They're, Yates Organizations: Costco, Global, U.S, Bank Wealth Management

☆ 'Joker: Folie a Deux' is this year's latest box office flop. Here's what else has disappointed
▼ + stars: | 2024-10-18 | by ( Sarah Whitten | ) www.cnbc.com time to read: +11 min

And it's not the only blockbuster-budgeted film to disappoint at the box office this year. "A combination of hits and flops are a hallmark of every box office year," said Paul Dergarabedian, senior media analyst at Comscore. But for more traditional media companies, that have long traded off their successes at the box office, shareholders still want to see a big theatrical return on investment. UniversalEstimated production budget: $80 million$80 million Global box office: $100 million$100 million Release date: Feb. 14, 2024 Sony's Spider-Man universe films have been hit-or-miss at the box office for years. However, despite solid reviews — a 90% "Fresh" rating on Rotten Tomatoes — the film failed to explode at the box office.

Persons: Joaquin Phoenix, Arthur Fleck, It's, Todd Phillips, it's, Paul Dergarabedian, Shawn Robbins, Robbins, Arthur Fleck's, Lady Gaga, Harley Quinn, Eli Roth's, Cate Blanchett, Kevin Hart, Jack Black, Jamie Lee Curtis, Ariana Greenblatt, Blanchett, — Bryce Dallas Howard, Sam Rockwell, Henry Cavill, John Cena, Samuel L, Jackson, Howard, Elly Conway, Guy, Ryan Gosling, Barbie, Emily Blunt, Oppenheimer, Colt, Jody Moreno's, Blunt, Cassandra Webb, Max, George Miller, Chris Hemsworth, Francis Ford Coppola, Cesar Catilina, Adam Driver, — Adam Driver, Dustin Hoffman, Giancarlo Esposito, Laurence Fishburne, Jon Voight, Coppola Organizations: Warner Bros, Universal, Lionsgate, Sony, Hollywood, Netflix, Apple, Arkham State Hospital, Audiences, Rotten, Fury Locations: Lionsgate's, Dua Lipa, New York City, Australia, York City, New Rome

☆ Asian American evangelicals’ theology is conservative. But that doesn’t mean they vote that way.
▼ + stars: | 2024-10-17 | by ( The Associated Press | ) www.nbcnews.com time to read: +9 min

Asian American evangelicals are a diverse, evolving group of voters increasingly seeking to distinguish themselves from their white counterparts. According to a 2023 Pew Research Center survey, about a third of Asian American adults identify as Christian. “The Asian American Christian’s identity is the convergence of cultural experience, historical background and core theological transformation,” Kim said. “I do hope and pray Asian American Christians take their civic responsibility seriously,” he said. The origins of Asian American churches influenced their evolution, said Jerry Park, associate professor of sociology at Baylor University in Waco, Texas.

Persons: Wayne Lee, Donald Trump, “ We’re, ”, Pastor Wayne Lee, Matt Slocum, Lee, ’, Jane Hong, Walter Kim, ” Kim, Owen Lee, “, ” Lee, that’s, ” Pastor Owen Lee, John McDonnell, don’t, Raymond Chang, ” James Cho, Cho, Joe Biden, Harris, GOP Cho, Jerry Park Organizations: American, Christian Church and Center, Pastors, Republican Party, Pew Research Center, Occidental College, “, National Association of Evangelicals, Christ Central Presbyterian Church, Korean American, AP, American Christian, GOP, Trump, Baylor University Locations: Chinatown, Pennsylvania, Philadelphia, Los Angeles, Centreville , Virginia, Centreville , Va, America, Orange County , California, Springfield , Ohio, U.S, Waco , Texas

☆ Auto giants launch a flurry of cheaper electric vehicles — taking the fight to China
▼ + stars: | 2024-10-17 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

Carlos Tavares, chief executive officer of Stellantis NV, beside a Citroen C5 Aircross Concept automobile at the Paris Motor Show in Paris, France, on Monday, Oct. 14, 2024. So, Citroen, Peugeot [and] Renault, they are all showing some smaller affordable models," Poliscanova said. The partly covered wheel of a BYD Co. electric vehicle at the Paris Motor Show in Paris, France, on Tuesday, Oct. 15, 2024. "This year in Europe, we did not have affordable models, so people are not buying those overpriced premium vehicles. Not that many full electric vehicles in Europe for less than that price," he added.

Persons: Carlos Tavares, Julia Poliscanova, Poliscanova, carmaker, Environment's Poliscanova, JATO, Denis Le Vot, CNBC's Charlotte Reed, Le Vot Organizations: Stellantis, Citroen, Paris, Bloomberg, Getty, Europe's, Transport & Environment, CNBC, Peugeot, Renault, carmaker Renault, Tech, Auto, Parc des, Chesnot, U.S, Beijing, Dacia, EV Locations: Paris, France, PARIS, Europe, China, Dacia, EVs, Parc, U.S

☆ Taylor Swift shook off publishers for her new book. That could spell trouble for the rest of the industry.
▼ + stars: | 2024-10-17 | by ( Samantha Grindell | Madeline Berg | ) www.businessinsider.com time to read: +11 min

Taylor Swift is self-publishing "The Eras Tour Book" and releasing it exclusively at Target. By excluding traditional publishers, Swift ensured she would get more of the book's revenue. With her latest announcement, the singer is back to her business-disrupting playbook with "Taylor Swift | The Eras Tour Book." AdvertisementIn what most closely resembles her book deal, Swift self-produced last year's "Taylor Swift: The Eras Tour" film. "Obviously, Taylor Swift is sort of a case under herself for this stuff in terms of just her reach," Hane said.

Persons: Taylor Swift, Swift, —, she's, it's, Clayton Durant, Simon &, Erik Hane, they're, It's, Ashok Kumar, Courtney Maum, Jessica Maddox, Gareth Cattermole, Maddox, Hane, Vittorio Zunino Celotto, Durant, vinyls, Taylor, John Shearer, Beyoncé, Paul Dergarabedian Organizations: Target, Service, Taylor Swift Publications, Nation School of Music, Sports, Entertainment, Simon & Schuster, Macmillan, HarperCollins, Hachette —, Literary, University of Alabama, Department, Universal Music, Big, Bloomberg, Poets Department, AMC, Mojo, Disney Locations: Long, Target, London, TikTok, Milan

☆ Inside Blackstone's growing 'credit juggernaut'
▼ + stars: | 2024-10-17 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +7 min

Private lending is now Blackstone's largest business by assets, up 22% since last year. Inside Blackstone's growing "credit juggernaut." By contrast, Blackstone's private-equity business manages $344.7 billion, and its real-estate investing arm, the firm's largest business at the start of the quarter, has $325.1 billion. The largest third-party lenderWhile Blackstone now claims to be the largest third-party credit provider, Apollo is the largest non-bank lender with $562 billion in private credit assets under management. Blackstone's private credit arm has generated 16.7% in returns over the last twelve months, though falling interest rates "put some pressure on absolute returns," Gray said.

Persons: Jon Gray, —, Blackstone, Jonathan Gray, CLOs, Gray, Steve Schwarzman, that's, We're, It's, Schwarzman Organizations: Service, Blackstone, Canada, Plan Investment Locations: New York, Asia, Pacific

And that massive total doesn't include fundraising by the main pro-Trump super PAC, MAGA Inc., which will file its fundraising reports by Sunday. Adelson gave $95 million to Preserve America, a super PAC she’s almost entirely funded, during the third fundraising quarter, after previously giving the group $5 million in the prior quarter. Right for America, another pro-Trump group, raised $28 million last quarter — with multimillion-dollar checks from Andreesen, Horowitz and Perlmutter as well as Perlmutter's wife, Lara. The super PAC has spent heavily on the presidential race as well as on the Wisconsin Senate and Maine 2nd Congressional District campaigns. Harris has plenty of super PAC backup, too: Future Forward (known as FF PAC) had raised $200 million through August, while MAGA Inc. had raised $280 million.

Persons: megadonors, Donald Trump, Kamala Harris, Miriam Adelson, Sheldon Adelson, Elon Musk, Marc Andreesen, Ben Horowitz, Ike Perlmutter, Dick Uihlein, Adelson, Harris, Musk, Trump, Horowitz, Perlmutter, Lara, Uihlein, Dianne Hendricks, Harris ’, Joe Biden, —, it’s Organizations: Trump, Dallas Mavericks, Tesla, Marvel, MAGA Inc, Sunday, Preserve, America, America PAC, Restoration PAC, Wisconsin Senate, Congressional, Trump MAGA Inc, FF PAC, NBC, Harris, Democratic National Committee, Democratic Locations: Preserve America, Maine, Wisconsin

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