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☆ Hegseth faces an ‘absolutely critical’ day as Pentagon hopes hang by a thread
▼ + stars: | 2024-12-04 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

His fate will not only depend on whether sufficient Republican senators will defer to the president-elect. That dilemma is especially acute since concern among Republican senators helped derail the Gaetz selection last month. So far, only a small minority of Republican senators have raised questions about Hegseth. But several Republican senators said they hoped such steps would be taken, especially in the case of Hegseth. CNN’s Manu Raju asked North Dakota Republican Sen. Kevin Cramer whether standards had changed since those days.

Persons: Donald Trump, Pete Hegseth, Hegseth’s, CNN’s Jake Tapper, hadn’t, “, —, Matt Gaetz, Trump, Hegseth, He’s, CNN’s KFile, Republicans don’t, Chad Chronister, Donald Trump's, Sen, Shelley Moore Capito, Andrew Harnik, Penelope Hegseth, he’s, Jean Carroll, Fred, ” Trump, South Carolina Republican Sen, Lindsey Graham, Iowa Sen, Joni Ernst, she’d, Louisiana Republican Sen, Jon Kennedy, he’d, ” Kennedy, — “, that’s, ”, Cynthia Lummis, James Lankford, Missouri Sen, Josh Hawley, Hegseth . Alabama Sen, Tommy Tuberville, “ there’s, Samuel Corum, ” Maine Sen, Susan Collins, Hegseth wouldn’t, John Tower of, George H.W, George H.W . Bush, CNN’s Manu Raju, North Dakota Republican Sen, Kevin Cramer, ” Cramer, Pete Organizations: CNN, Fox News, Pentagon, Trump, Yorker, Republicans, Trump Republican, Drug, Administration, Defense, Russell Senate, The New York Times, Times, “ Fox, South Carolina Republican, Louisiana Republican, Missouri, ”, Capitol, Justice Department, Republican, North Dakota Republican Locations: Washington, Trump, Fox, Seattle, Florida, ”, Russell, Iraq, Afghanistan, Iowa, Louisiana, Wyoming, Hegseth . Alabama, Lago, ” Maine, John Tower of Texas, George H.W .

☆ Arizona Biltmore: 8-year-old boy dies after statue falls on him at historic Phoenix resort
▼ + stars: | 2024-12-04 | by ( Dalia Faheid | ) edition.cnn.com time to read: +2 min

CNN —An 8-year-old boy died last week after a large statue fell on him at a luxury Phoenix resort, authorities said. One of the Arizona Biltmore’s outdoor statues fell over and landed on the child, who suffered a serious head injury, the Phoenix Fire Department told CNN affiliate KPNX. Around 8:45 a.m. on November 27, responding officers located the injured child and took him to a local hospital in critical condition, the Phoenix Police Department told CNN Tuesday. We wish them peace and respect their right to privacy during this difficult time,” the Arizona Biltmore told CNN in a statement. The statue was made of concrete, Keller told CNN affiliate KTVK.

Persons: Todd Keller, KPNX, ”, –, Frank Lloyd Wright, Alfonso Ianelli, Keller Organizations: CNN, Arizona, Phoenix Fire Department, KPNX, Phoenix Police Department, Phoenix Fire, Arizona Biltmore, ” CNN, KTVK, Historic Property Locations: Chicago

☆ This chip stock could be ready for a catch-up trade with Nvidia, according to the charts
▼ + stars: | 2024-12-04 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +4 min

Technical analysis-based trade ideas can be classified into two main categories – trend following or mean-reverting. In other words, there's no reason to guess when momentum is going to turn higher – if it does at all. However, when a declining stock gets washed out and/or falls to a confluence of support, the risk return ratio can turn favorable. And with the stock's recent hold above the 130-zone the last few weeks, it could be getting ready for another rally attempt. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: –, we've Organizations: CNBC Pro, AMD, RSI, CNBC, NBC UNIVERSAL

☆ Hegseth vows to ‘fight like hell’ to win confirmation in the face of some GOP doubts
▼ + stars: | 2024-12-04 | by ( Eric Bradner | ) edition.cnn.com time to read: +12 min

Hegseth vowed to “fight like hell” to win confirmation — and told at least one GOP senator he would quit drinking alcohol if he gets the job. Hegseth said he spoke to Trump on Wednesday and still has the president-elect’s support. In an interview with conservative radio host Megyn Kelly, Hegseth said that Trump told him, “Hey Pete, I got your back. It’s our turn, it’s our time, to stand up and tell the truth, and our side,” Hegseth said. Hegseth told Kelly that Trump told him to “clean house of the woke crap” at the Pentagon.

Persons: Pete Hegseth, Donald Trump’s, Hegseth, Megyn Kelly, Trump, “ Hey Pete, It’s, They’re, ”, they’d, John Thune, “ We’re, Iowa Sen, Joni Ernst, Virginia Sen, Shelley Moore Capito, Hegseth “, “ There’s, Alaska Sen, Lisa Murkowski —, Susan Collins of, —, “, Murkowski, Kelly, ” Hegseth, ” “, I’m, God, That’s, ” Timothy Parlatore, CNN’s Jake Tapper, ” Parlatore, Parlatore, Pete, “ you’d, Brett Kavanaugh, Roger Wicker, ” Wicker, CNN’s Manu Raju, Kevin Cramer, he’s, I’ve, Cramer, Hegseth’s, Penelope Hegseth, –, ” Penelope Hegseth, “ Pete, Tennessee Sen, Bill Hagerty, everybody’s, ” Hagerty, Hagerty, Josh Hawley, “ It’s, ” Hawley, Hawley, Ron DeSantis, DeSantis, Let’s, Donald Trump, Morgan Rimmer, Ali Main, Steve Contorno, Aaron Pellish Organizations: CNN, Republican, Fox News, Pentagon, Trump, Republicans, GOP, Hegseth, FBI, Armed, Mississippi Republican, North, The New York Times, Florida Gov Locations: Iowa, Virginia, Alaska, Susan Collins of Maine, Tennessee, Trump, Florida

☆ Intel ruled tech. Now it’s in deep trouble
▼ + stars: | 2024-12-04 | by ( Clare Duffy | ) edition.cnn.com time to read: +10 min

At the time, Intel was the world’s largest producer of computer chips, and its technology was housed inside nearly every PC. That means nearly two decades after Grove outlined his vision, Intel is a shell of its former self. And now, investors and company watchers are seriously questioning whether Intel can ever regain its industry-leading position, despite its importance to American chipmaking. And because ARM was ready with the technology, it quickly leapfrogged Intel as the mobile chipmaking leader. Intel CEO Pat Gelsinger delivers a speech at the COMPUTEX forum in Taipei, Taiwan on June 4.

Persons: Andy Grove, Grove, Pat Gelsinger, Gelsinger, ”, Angelo Zino, Shannon Stapleton, Gordon Moore, Intel “, Vivek Arya, “, Edward Jones, Logan Purk, Gelsinger “, ” Zino, Ann Wang, Nvidia —, didn’t, Jensen Huang, it’s “, Huang, Biden, ” Forrester, Alvin Nguyen, Saul Loeb, David Zinsner, Johnston Holthaus, Nguyen, Intel’s, Trump, ” Purk, Zino, ” Frank Yeary Organizations: New, New York CNN, Intel, Dow Jones, Nvidia, CFRA Research, ARM, Apple, Reuters, AMD, ” Bank of America Securities, CNN, Getty, Qualcomm, Foundry Locations: New York, American, Taipei, Taiwan, Ohio, China

☆ Mareterra: This $2 billion luxury ‘eco-district’ has grown Monaco in size by 3%
▼ + stars: | 2024-12-04 | by ( Oscar Holland | ) edition.cnn.com time to read: +3 min

New “eco-district” Mareterra, which has been built into the Mediterranean Sea, expands the microstate’s land mass by almost 15 acres. Inaugurated by Monaco’s Prince Albert II on Wednesday, the €2 billion ($2.1 billion) luxury development features a marina, seaside promenade and swathes of new high-end housing. The new development features more than 100 new luxury apartments in one of the world's most densely populated places. Land is notoriously scarce in Monaco, which has a long history of building into the sea. MareterraEarlier land reclamation efforts attracted the ire of environmentalists worried about the impact on Monaco’s marine life, which today includes 60 species of coral.

Persons: Knight Frank —, Monaco’s Prince Albert II, Le Renzo, Renzo Piano, Mareterra, Norman Foster, Tadao Ando, Knight Frank, Grimaldi, Prince Albert II Organizations: CNN, Pompidou Locations: Monaco, Tuscany, Italy, Mareterra .

☆ Outgoing Campbell's CEO talks new NFL role and the soup maker's progress
▼ + stars: | 2024-12-04 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Outgoing Campbell's CEO Mark Clouse discussed his departure from the company in a Wednesday interview with CNBC's Jim Cramer, sayin he feels comfortable leaving his post to become president of the National Football League's Washington Commanders. "We have moved dramatically from where we were six years ago," he said of the soup maker. Campbell's reported a mixed quarter Tuesday night and announced longtime company executive Mick Beekhuizen will start as CEO in February of 2025. Management struck an optimistic tone about recovery in different categories but said some were making more progress than others. Clouse expressed optimism about Campbell's ability to change its offerings accordance with consumers' preferences and tastes.

Persons: Mark Clouse, CNBC's Jim Cramer, sayin, Campbell's, Mick Beekhuizen, Clouse Organizations: National Football League's, Management, Sovos Brands Locations: Campbell's

☆ Trump plans to nominate Paul Atkins as SEC chair in crypto-friendly move
▼ + stars: | 2024-12-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

President-elect Donald Trump, keeping with his promise for a crypto-friendly administration, plans to nominate former SEC Commissioner Paul Atkins to head the agency, according to his Truth Social post. Currently the CEO at Patomak Global Partners, Atkins is a well-known veteran of the financial world and Republican political circles specifically. He had been widely expected to get the position as the nation's top financial market regulator. Atkins served as SEC commissioner from 2002-08, under then-President George W. Bush. Along with adopting a pro-crypto stance, the prospective nominee was critical of some of the reforms that emerged from the global financial crisis in 2008.

Persons: Paul Atkins, Donald Trump, Atkins, Gary Gensler, Trump, George W, Bush, Dodd, Frank Organizations: Patomak Global Partners, Bloomberg, Milken Institute Global Conference, SEC, Republican Locations: Beverly Hills , California, U.S

☆ The GOP's post-election challenge: Turning Trump voters into full-fledged Republicans: From the Politics Desk
▼ + stars: | 2024-12-03 | by ( The Politics Desk | ) www.nbcnews.com time to read: +10 min

In today’s edition, national political correspondent explains why Republicans may not be able to bank on Donald Trump's coalition moving forward. The GOP’s post-election challenge: Turning Trump voters into full-fledged RepublicansBy Steve KornackiEven with their success, this election revealed a challenge for Republicans going forward: The “Trump coalition” and the “GOP coalition” are not quite the same. That was in Maine in 2020, when voters re-elected Republican Sen. Susan Collins while backing Democrat Joe Biden for president. The first involves voters who were motivated to turn out for Trump, but then skipped all of the other races on the ballot. The other factor the GOP will need to address involves Democratic defectors — traditionally Democratic voters who have essentially made an exception for Trump.

Persons: Donald Trump's, Steve Kornacki, Donald Trump, Kari Lake’s, Democrat Ruben Gallego, Kamala Harris, Republican Sen, Susan Collins, Joe Biden, Scott Bland, Harris ’, Trump, hadn’t, “, —, Democratic Sen, Tammy Baldwin, Eric Hovde, Courtney Kube, Frank Thorp V, Ryan Nobles, Garrett Haake, Donald Trump’s, Pete Hegseth, Hegseth, Sen, Joni Ernst, “ We’re, ” Ernst, Roger Wicker, Wicker, ” Wicker, 🚨, ove, Hou, hani, sion, Tim e Organizations: NBC, White House, Capitol, Defense Department, Trump, Republicans, “ Trump coalition ”, GOP, Democratic, Democrat, Republican, “ Trump, Senate, Pentagon, Fox News, ’, Armed Services Committee, Army National Guard, Fox, EA, ics Locations: Arizona, Maine, Washoe County, Nevada, Wisconsin, Trump, Iowa, California, Poli

☆ Trump's pick for defense secretary, Pete Hegseth, is in peril in the Senate
▼ + stars: | 2024-12-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Courtney-Kube-Circle-Byline-Template.Jpg | Courtney Kube | ) www.nbcnews.com time to read: +5 min

WASHINGTON — President-elect Donald Trump’s pick to lead the Defense Department, Pete Hegseth, is in peril as Senate Republicans grow increasingly concerned over allegations of drinking and reports about his treatment of women. Given Republicans' slim Senate majority in the next Congress, Hegseth, a former Fox News host, can afford to lose only three GOP votes, assuming all Democrats vote against him. Hegseth did not respond when he was asked for comment on those allegations Tuesday evening at the Capitol. Another Trump pick to fill out his Cabinet dropped out of contention last month amid opposition from Senate Republicans. Several Republican senators have continued to downplay the allegations, saying they support Trump’s prerogative to pick his own Cabinet.

Persons: Donald Trump’s, Pete Hegseth, Sen, Joni Ernst, “ We’re, ” Ernst, Hegseth, Hegseth’s, Roger Wicker, Wicker, ” Wicker, ” Sen, Lindsey Graham, “, ” Graham, He’ll, ” Hegseth, Matt Gaetz, Gaetz, Cynthia Lummis, ” Lummis, ”, John Cornyn Organizations: WASHINGTON, Defense Department, Republicans, Pentagon, Fox News, GOP, Armed Services Committee, Army National Guard, Trump, NBC News, Fox, Capitol, NBC, Yorker, Senate Republicans, Former, Republican Locations: Iowa, California, Texas, Washington ,

☆ 8-year-old boy dies after a statue falls on him at Arizona hotel
▼ + stars: | 2024-12-03 | by ( Deon J. Hampton | Deon J. Hampton Is A National Reporter For Nbc News. | ) www.nbcnews.com time to read: +1 min

An 8-year-old boy has died after a statue fell on him outside the luxury Arizona Biltmore hotel, the Phoenix Police Department said. The boy's death was announced Monday, five days after he was struck in the head by the statue and hospitalized. Investigators were still trying to determine Tuesday why the statue came apart and how the boy came to be hit by it, but they ruled out foul play, police said. The Biltmore hotel, designed by architect Frank Lloyd Wright, is part of a 39-acre resort spanning the Phoenix Mountain Preserve with views of palm trees and mountain ranges. The statue that collapsed was one of 19 "solemn sprites" sculptures on the grounds of the resort, KVOA-TV, the NBC affiliate in Tuscon, Arizona, reported.

Persons: Frank Lloyd Wright, “ Organizations: Arizona Biltmore, Phoenix Police Department, Biltmore, NBC Locations: Arizona, Tuscon , Arizona

☆ 'Wild childs': Republican senators brush aside Pete Hegseth misconduct allegations after meeting with him
▼ + stars: | 2024-12-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Kate_Santaliz.Jpg | Kate Santaliz | ) www.nbcnews.com time to read: +5 min

Republican senators who met Monday with Pete Hegseth, President-elect Donald Trump’s pick for defense secretary, brushed aside sexual assault and other allegations against him. Sen. Cynthia Lummis, R-Wyo., called the allegations a “side issue” while lauding Hegseth’s ability to lead the Defense Department. Hegseth did not respond to shouted questions from NBC News about the New Yorker article and other allegations. Senators offered their full-throated support to Hegseth after the meeting, downplaying the accusations. The Trump transition team did not immediately respond to a request for comment on the Republican senators' remarks.

Persons: Pete Hegseth, Donald Trump’s, Sen, Cynthia Lummis, ” Lummis, Mike Lee, Hegseth, ”, “, Pete, he’s, Rick Scott, Lee, Ted Cruz, Cruz, Lummis, ” Hegseth, Shawn Ryan Organizations: Defense Department, Republican, Committee, Hegseth, Capitol, Army National Guard, Fox News, Yorker, NBC News, Trump, NBC, Pentagon, FBI, New York Times, Times Locations: Utah, Texas, California

☆ Senate approves promotion for general involved in Afghanistan exit after a Republican blocked it
▼ + stars: | 2024-12-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Frank-Thorp-Circle-Byline-Template.Jpg | Frank Thorp V | ) www.nbcnews.com time to read: +1 min

WASHINGTON — The Senate voted Monday to approve the promotion of a general who oversaw troops during the U.S. withdrawal from Kabul, Afghanistan, after it had been blocked by a Republican senator aligned with President-elect Donald Trump. The Senate voted by unanimous consent, meaning all 100 senators agreed, to approve Army Lt. Gen. Christopher Donahue's promotion to four-star general to oversee U.S. Army forces in Europe. Sen Markwayne Mullin, R-Okla., had blocked Donahue’s promotion, NBC News reported last month, citing a Senate aide. Donahue, who was commander of the 82nd Airborne Division during the Kabul withdrawal in 2021, was the subject of a viral photograph as the last soldier to board a U.S. military plane out of Afghanistan. An inspector general's report in 2022 found that decisions by both Biden and Trump contributed to the troubled exit from Afghanistan.

Persons: WASHINGTON, Donald Trump, Christopher Donahue's, Sen Markwayne Mullin, Mullin, Trump, Mullin's, Donahue, Joe Biden's Organizations: Republican, The, U.S, Army, NBC News, 82nd Airborne Division, Republicans, Congress, Islamic, Biden Locations: Kabul, Afghanistan, Europe, U.S

☆ Opinion | Rahm Emanuel’s Plan for a Democratic Comeback in 2026
▼ + stars: | 2024-12-03 | by ( Ezra Klein | ) www.nytimes.com time to read: +3 min

And it was about the question of whether Bernieism was a way forward for the Democratic Party. Rahm Emanuel is America’s ambassador to Japan. Archived clip of Rahm Emanuel: You never want a serious crisis to go to waste. Archived clip of Rahm Emanuel: From every corner of the country, the American people have sent a resounding and unmistakable message of change and new direction for America. Archived clip of Rahm Emanuel: There’s an old saying that if you want to make an omelet, you have to break a few eggs.

Persons: Faz Shakir, Bernie Sanders’s, Bernieism, Rahm Emanuel, Emanuel, Barack Obama’s, Obama’s, Obama, Dodd, Frank, Barack Obama, it’s, George W, Bush’s, Katie Couric, Bill Clinton’s, There’s, Clinton, David Axelrod, Steve Israel, Bill Clinton Organizations: Democratic Party, Affordable, Democratic Congressional, America, Democratic, Democratic National Committee, House Democrat Locations: Japan, Chicago

☆ Intel considers an outside CEO, taps headhunters, sources say
▼ + stars: | 2024-12-03 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

An outside CEO would break from tradition at the chipmaker, which has historically promoted from within. While Gelsinger was hired from VMware in 2021, he had spent decades at the company in roles of increasing seniority. Interim executive chair Frank Yeary and a board-level committee are overseeing the search for a new CEO, Intel disclosed in a regulatory filing, and the process remains in its early stages. Intel's board may opt for an internal promotion, and internal candidates could include CFO David Zinsner or Intel products chief MJ Holthaus, the interim co-CEOs. Gelsinger will receive roughly $10 million in severance, Intel disclosed in a regulatory filing.

Persons: Pat Gelsinger, Spencer Stuart, Tan, Gelsinger, Bob Swan, Swan, Marvell, Matt Murphy, Frank Yeary, David Zinsner, MJ Holthaus Organizations: Intel, VMware, Bloomberg, Reuters, Nvidia

☆ Intel shares slide as Gelsinger exit leaves chipmaker without a 'quick fix'
▼ + stars: | 2024-12-03 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

Intel CEO Pat Gelsinger speaks while holding a new chip, called Gaudi 3, during an event called AI Everywhere in New York, Thursday, Dec. 14, 2023. Intel shares fell more than 5% on Tuesday, a day after the embattled chipmaker announced the ouster of CEO Pat Gelsinger, whose four-year tenure was marred by market share losses and a major miss in artificial intelligence. At the same time, Intel has refocused much of the company into becoming a foundry, manufacturing processors for other chipmakers. "A lot of the problems recently have been caused by the insistence on the foundry business," Chris Danely, an analyst at Citi Research, told CNBC's "Money Movers" on Monday. Danely added that "the clock started ticking on Pat" when the foundry business showed significant margin shrinkage over the summer.

Persons: Pat Gelsinger, Gaudi, David Zinsner, MJ, expeditiously, Gelsinger, Frank Yeary, Cantor, Bob Swan, Chris Danely, CNBC's, They're, Gelsinger's, —, Rohan Goswami, Kif Leswing Organizations: Intel, chipmaker, Nvidia, Devices, Citi Research Locations: New York

☆ The top books and experiences for the wealthy this holiday season
▼ + stars: | 2024-12-03 | by ( Robert Frank | ) www.cnbc.com time to read: +1 min

J.P. Morgan Private Bank is out with its list of recommended holiday books and experiences for wealthy clients, and this year's offerings include a George Clooney Broadway debut, an expanded art museum in São Paulo, Brazil, a wellness center in Manhattan and books about leadership and artificial intelligence. The "NextList2025," picking the most buzz-worthy books and experiences of the holiday season, includes four museums, two wineries, four Broadway shows and 10 books. To build the list, the bank received more than 1,000 submissions from client advisors based on their clients' tastes and interests. A review committee then researches the submissions and creates the list (similar to its popular J.P. Morgan Private Bank Summer Reading List). While the list is released by the Private Bank, it's used across J.P. Morgan divisions with wealthy and affluent clients.

Persons: George Clooney, it's Organizations: Morgan Private Bank, George Clooney Broadway, Broadway, Private Bank, Morgan Locations: São Paulo, Brazil, Manhattan

☆ Here's what Wall Street analysts say is ahead for Intel after CEO Pat Gelsinger's departure
▼ + stars: | 2024-12-03 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

AdvertisementIntel's stock dropped 6% on Tuesday after the company announced the departure of CEO Pat Gelsinger on Monday. Intel stock dropped 6% Tuesday as investors reacted to the departure of the chip maker's CEO, and Wall Street analysts seem to think the company future remains uncertain. The stock dropped in Tuesday trades to close at %22.47 per share after the company announced on Monday that CEO Pat Gelsinger would be leaving the company. Intel chair Frank Yeary said the company is committed to restoring investor confidence, but Wall Street analysts say it won't be easy. Other analysts say that separating the two units within Intel would only temporarily boost stock prices.

Persons: Pat Gelsinger, It's, Frank Yeary, Gelsinger —, That's, Vivek Arya, Trump, Arya, Pat Organizations: Intel, Wall Street, Citi, Bank of America, Wedbush Securities

Intel's CEO is stepping down as the stalwart American chipmaker has struggled to keep pace with the artificial intelligence revolution. The company announced Pat Gelsinger, who'd led the company since 2021 and logged more than 30 years in various positions with the chipmaker, had retired from the company effective Dec. 1. Intel shares have declined 61% since Gelsinger took over. This is a developing story. Please check back for updates.

Persons: American chipmaker, Pat Gelsinger, who'd, Frank Yeary, Gelsinger Organizations: American, Intel

Which is why it's a great time to take advantage of the best Cyber Monday deals on women's winter coats. If you're in the market for a stylish and cozy winter coat, you'll want to act fast. We're rounding up the best deals from across the internet in our guide to the best Cyber Monday deals, so be sure to keep an eye there for the latest deals. View at Saks Fifth AvenueCyber Monday winter coat FAQsIs Cyber Monday a good time to buy winter coats? Check out our roundup of all of the best Cyber Monday deals .

Persons: Frank, Wheeler Parka, Read, Halfdays Wheeler Parka, Wheeler, Oak, Barbour, Woolrich GORE, TEX Marshall Parka, GORE, pare Organizations: Business, parka, Columbia, Columbia Outdoor Research, Parka, Saks Fifth Locations: Frank, Columbia, Patagonia, Cashmere

☆ In an all-hands meeting, Intel's new leaders emphasized outgoing CEO Pat Gelsinger's 'personal decision'
▼ + stars: | 2024-12-02 | by ( Helen Li | Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

AdvertisementIntel CEO Pat Gelsinger is out of the top spot after a challenging 4-year tenure. On Monday morning, Intel employees joined an all-hands meeting after receiving an email invite at 5 a.m. PT. Being CEO of Intel was Pat Gelsinger's dream since he joined the company as a teenager in 1979. But no one at the top has the technical expertise of Gelsinger, which Intel employees pointed out in their questions. No one has been a closer witness to this roller coaster than Intel employees, who have seen multiple waves of layoffs and buyouts.

Persons: Pat Gelsinger, David Zinsner, Michelle Johnston Holthaus, unravels ChatGPT, isn't, Pat Gelsinger's, Alvin Nguyen, Forrester, Gelsinger, Zisner, Holthaus, Intel's, Edward Jones, Said, Frank Yeary, Bernstein, Vivek Arya, Daniel Newman, Logan Purk, Pat, Emma, ecosgrove Organizations: Intel, Bloomberg, Department of Commerce, Nvidia, Gaudi, Bank of America

☆ Intel's CEO steps down as chip maker tries to restore investor confidence
▼ + stars: | 2024-12-02 | by ( Will Martin | ) www.businessinsider.com time to read: 1 min

AdvertisementIntel's longtime CEO Pat Gelsinger is stepping down, the company said in a statement Monday. Gelsinger leaves the chipmaker with immediate effect, vacating his role both as CEO and as a member of the board. AdvertisementTwo senior Intel executives, David Zinsner and Michelle Johnston Holthaus, will take interim charge during the search for a new CEO. Frank Yeary, Intel's chairman, thanked Gelsinger but said the company needed to restore investor confidence. AdvertisementIntel stock has almost halved this year, but rose 6% in premarket trading on Monday.

Persons: Pat Gelsinger, Gelsinger, David Zinsner, Michelle Johnston Holthaus, Frank Yeary, Yeary Organizations: Intel

☆ Intel's CEO steps down as chipmaker tries to restore investor confidence
▼ + stars: | 2024-12-02 | by ( Will Martin | ) www.businessinsider.com time to read: +1 min

AdvertisementIntel's CEO Pat Gelsinger stepped down on December 1, the company said Monday. Intel's CEO Pat Gelsinger has stepped down, the company said in a statement Monday as the US-based chipmaker struggles to keep up in the global chip war. Gelsinger leaves the chipmaker with immediate effect, vacating his role both as CEO and as a member of the board. Frank Yeary, Intel's chairman, thanked Gelsinger and said the company needed to restore investor confidence. In 2012, he became CEO of cloud-computing firm VMWare, before returning to Intel as CEO in 2021.

Persons: Pat Gelsinger, David Zinsner, Michelle Johnston Holthaus, Frank Yeary, Gelsinger, Yeary Organizations: Intel, Nvidia, EMC, Dell, VMWare

Intel announced Monday that CEO Pat Gelsinger had retired from the company effective Dec. 1, capping a tumultuous nearly four-year leadership tenure at what was once America's leading semiconductor company but which saw its stock price and market share collapse under his tenure. Intel CFO David Zinsner and Intel products CEO MJ Holthaus were named interim co-CEOs. Gelsinger returned to the company from VMware, where he was CEO, to stabilize Intel in 2021, replacing then-CEO Bob Swan. Gelsinger set out an audacious plan when he arrived in 2021 to transform the languishing company into a chipmaking juggernaut. Intel revealed plans in September to turn the company's foundry business into an independent subsidiary, a move that would enable outside funding options.

Persons: Pat Gelsinger, David Zinsner, MJ Holthaus, Frank Yeary, Gelsinger, Bob Swan, — CNBC's Jordan Novet Organizations: Intel, EMC, VMware, Samsung, Taiwan Semiconductor Manufacturing Company, Nvidia, CNBC, Qualcomm Locations: U.S

☆ Luxury chalet buyers in the Alps are now interested in a lot more than just skiing
▼ + stars: | 2024-12-01 | by ( Maria Noyen | ) www.businessinsider.com time to read: +3 min

Property companies say the quality of the skiing is not the only criteria for some Alpine buyers. Instead of winter sports, wellness is taking priority for many seeking an Alpine chalet. AdvertisementYet, for some wealthy chalet buyers in upmarket towns such as Gstaad and Courchevel, it seems skiing is no longer the only draw. Pristine slopes are not the only draw for Alpine chalet buyers. Rollason added that if the uber-wealthy are buying a chalet, "then it's not just a chalet — it's an all-encompassing leisure object."

Persons: Knight Frank, Kurti, Kate Everett, Allen, Jeremy Rollason, sanatoriums, Rollason Organizations: Bain & Company, Alpine, Swiss Locations: Savills

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