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Portfolio manager discusses Couche-Tard's bid for Seven & i
  + stars: | 2024-10-18 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCouche-Tard is 'extraordinarily disciplined' on the capital allocation front: Portfolio managerBen Herrick, associate portfolio manager at Artisan Partners, discusses Alimentation Couche-Tard's bid for Seven & i and regulatory concerns.
Persons: Ben Herrick, Alimentation Organizations: Artisan Partners, Seven
Intel is looking for a deal that values Altera at around $17 billion, said the people, who requested anonymity to speak freely about confidential information. Following a steep drop in its stock price and extended stretch of market share losses, Intel has been looking to make drastic changes. The company made overtures to a number of private equity and strategic investors this week about Altera, the sources said. Intel has expressed to some of those investors that it would be possible to acquire a majority stake in the business. Intel has previously said it could look to monetize Altera business through an IPO, possibly as soon as 2026.
Persons: Pat Gelsinger, Gelsinger Organizations: Intel Corporation, Senate Commerce, Science, Innovation, Russell, Intel, Qualcomm, Nvidia, Devices
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Persons: APYs, , Cash, we've Organizations: Federal Reserve, Cash Locations:
Intel is looking for an investor to acquire a stake in its Altera subsidiary, CNBC reported. Intel is facing challenges in its business at a time when the US is seeking to revitalize its chip industry. AdvertisementTech giant Intel is seeking an investor for a stake in its Altera subsidiary, CNBC reported late Thursday, citing people familiar with the matter. The news comes as US chip giant Intel faces troubles just as Washington is seeking to revitalize the country's chip industry for national security reasons. Dutch equipment maker ASML and Taiwanese chip giant TSMC both reported quarterly earnings that showed AI chip growth in the short to medium term.
Persons: , Joe Biden, Biden, Pat Gelsinger, Gelsinger Organizations: Intel, CNBC, Service, Tech, Street, Qualcomm, Business Insider Locations: Altera, Washington
Russian automaker Sollers is under fire over reports that its cars are breaking down along the war front. In response on Thursday, Sollers blamed Western sanctions for forcing it to switch suppliers quickly. AdvertisementA Russian contractor providing SUVs and pick-up trucks to Moscow's troops blamed Western sanctions on Thursday amid criticism that its vehicles were arriving in poor condition. The Russian automaker's recent blaming of Western sanctions is a reversal of its statements in September 2023, when it dismissed being blacklisted by the US Treasury Department. Sollers had told Russian media it did not foresee a significant impact as it already restructured its supply chain to prepare for the restrictions.
Persons: Sollers, , UAZ, Dmitry Rogozin, Rogozin, he's, He's, Gazeta.RU Organizations: Service, Ulyanovsk Automobile Plant, NATO, Telegram, Business, Ford Motor Company, Mazda, US Treasury Department, European Union Locations: Russian, Ulyanovsk, Moscow, Ukraine, Roscosmos, Michigan, Russia, Vladivostok, Sollers
The Trump campaign put nearly $14 million behind the ad in the first two weeks of the month. The Trump campaign disputed the report. As pro-Trump advertisers have put more money behind ads attacking transgender policies, economic messaging has also been a consistent, though shifting, point of emphasis. Harris’ campaign did not respond to a request for comment. President Trump is for you.”Democrats in the presidential race have offered no defensive response.
Persons: Donald Trump, Kamala Harris, It’s, CNN’s KFile, Harris, , , Bret Baier, Trump, , ” Trump, Kamala, Harris ’, Wednesday’s Fox, Terry Schilling, Andy Beshear, Beshear, Glenn Youngkin, Rodrigo Heng, Lehtinen, ” “, ” Heng, wouldn’t, Chris LaCivita, Miriam Adelson –, MAGA, Colin Allred – who’s, Sen, Ted Cruz, Texas –, Ohio Sen, Sherrod Brown, DeWine, Allred, Brown, Schilling, ” Schilling, Heng, Joe Biden, Jennifer Agiesta, Alayna Treene, Kate Sullivan, Kristen Holmes Organizations: CNN, Republicans, Trump, Fox News, New York Times, of Prisons, Fox, Democratic Gov, Republican Gov, statehouse, Virginians, National Center for Transgender Equality, , Gallup, Democratic Party, , Preserve America, Badger State, PAC, Democratic, GOP, White Locations: Washington, Kentucky, Virginia, Wisconsin, Texas, Ohio
Oil edges up, but on track for biggest weekly loss in over a month
  + stars: | 2024-10-18 | by ( ) www.cnbc.com   time to read: +2 min
Crude oil futures inched higher on Friday, supported by a surprise drop in U.S. oil inventories and simmering Middle East tensions, but prices were headed for their biggest weekly loss in more than a month on worries of lower demand. Both contracts settled higher on Thursday for the first time in five sessions after data from the Energy Information Administration showed that U.S. crude oil, gasoline and distillate inventories fell last week. "Speculative positioning across the ICE Brent complex strengthened from historically low levels, on heightened geopolitical risk of a potential Israeli strike on Iran's oil infrastructure," Citi analysts said in a note. Citi expects global oil demand to slow to 900,000 bpd in 2025 from 1 million bpd this year on an economic slowdown and as more electric vehicles hit the road. The "potential impact of China's emerging economic stimulus plans on oil demand is uncertain, and more robust support may only result in a limited boost," it added.
Persons: Brent, WTI Organizations: Brent, West Texas, Energy, Administration, of, Petroleum, International Energy Agency, ICE, Citi Locations: San Joaquin Valley, McKittrick , California, OPEC, Israel, Iran
Staple’s plight highlights the unusually difficult situation of young Americans trying to kick-start their careers, even as the broader US economy remains in good shape. Indeed, the job market overall remains in decent shape. A ‘victim of circumstance’Everyday Americans are always at the mercy of the economy — whether it’s navigating difficulties such as high inflation and a recession, or a red-hot job market that benefits workers. Having a tough time landing that first job, in part because of broader economic forces, can have lasting consequences. “For young workers, their first few years out of school are very formative for their careers.
Persons: Kirsten Staple, ” Staple, That’s, , , Julia Pollak, ZipRecruiter’s, , they’re, Daniel Zhao, Zhao, Millennials, Jonathon Courtney, hasn’t, Courtney, I’ve, ” Courtney, who’ve, there’s, Catherine Dugoni Camille Larsen Catherine Dugoni, “ It’s, ” Dugoni, isn’t Organizations: Washington CNN, University of Texas, Labor Department, CNN, Federal Reserve, Employers, Glassdoor, University of Houston Locations: San Antonio, El Paso , Texas, , Houston, Sacramento , California, San Francisco
Alison Emerick and her husband traveled to Bali for a break on their way home to Colorado. They settled into Bali life quickly, with two young kids, and didn't want to leave. AdvertisementWe settled into Bali life quicklyAs the weeks went by, and life slowed down, we realized we really liked it here. The author, her husband, and two kids embrace Bali life. The author loves how easy it is to pick up the kids from school and head to the beach as a family.
Persons: Alison Emerick, , It's, we're, Alison Emerick Bali, we've, We've, I've, We're Organizations: Service, Singapore American School, manta Locations: Bali, Colorado, Singapore, Singapore ., Indonesia, Sanur, Canggu, Penida, Komodo, East Java, Ubud, Overdevelopment, Rivers
Karen Kissane left her job, started a coaching business, and moved her family to France. Had this not happened, my family wouldn't be in France now. I feel like I've done my husband the biggest favor everOur roles swapped when we moved to France. It's great we could make this swap, effectively taking turns, as I did this before when he was a partner in a business working long hours. AdvertisementMoving to France helped my coaching business take offI didn't need a special business visa for France because we moved before Brexit.
Persons: Karen Kissane, Kissane, , wouldn't, It's, we'd, they'd, they're, I've, we've, Lauryn Haas Organizations: Service, Space, lhaas Locations: France, Northamptonshire, Cognac, French, British
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's GDP growth will likely stay at about 4.5% for the whole of 2025, economist saysErica Tay of Maybank Investment Banking Group says she disagrees with Chinese officials where growth drivers are concerned.
Persons: Erica Tay Organizations: Maybank Investment Banking Group
European markets were headed for a mixed open on Friday as investors digested the European Central Bank's decision to cut interest rates yet again and awaited fresh economic data and earnings. Germany's DAX , the U.K.'s FTSE 100 and France's CAC 40 are all expected to slip when markets open, according to IG data, while Italy's FTSE MIB is on track to rise. The pan-European Stoxx 600 ended Thursday in the green, with almost all sectors and regional bourses trading in positive territory. It came as the ECB announced its third interest rate cut of the year, lowering the deposit rate by another 25 basis points, as inflation risks in the European Union ease faster than anticipated. On Friday, investors will be watching the latest U.K. retail sales data and quarterly earnings from Volvo Group.
Persons: Germany's DAX Organizations: Central, CAC, ECB, Volvo Group, Dow Jones Locations: European Union, Asia, Pacific, China, Hong Kong
The Girl Scouts could soon triple membership fees
  + stars: | 2024-10-18 | by ( Vanessa Yurkevich | ) edition.cnn.com   time to read: +5 min
CNN —The Girl Scouts of the USA plans to raise prices, but not for their famous cookies. Membership dues are the Girl Scout’s largest source of revenue, generating $38 million in 2023 from its nearly 2 million total members. You are going to run yourselves out of business.”Bertram was a Girl Scout herself, just like every girl in her family. Part of the problem is that Girl Scout membership has fallen in recent years, leadership said in a video to members in September. GSUSA will continue to provide financial aid to “reduce barriers” to any girl who wants to be a Girl Scout, a spokesperson said.
Persons: , , Sally Bertram, ” Bertram, Bertram, it’s, Diane Tipton, Bonnie Barczykowski, Bertran, ” Bertran, we’re, ” Tipton, Kelly Goldsmith, Goldsmith, GSUSA, can’t Organizations: CNN, The Girl Scouts, USA, Girl Scouts, Girl Scouts of, Girl Scout, National Council, Boy Scouts, Vanderbilt University, Scout Locations: Girl Scouts of Western Ohio, Tennessee, New York City
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Pretty low' expectations for Europe's third-quarter earnings season, fund manager saysClare Pleydell-Bouverie, fund manager at Liontrust Asset Management, discusses the macroeconomic outlook in the U.S. and Europe and says that the expectations for Europe’s third-quarter earnings season are “pretty low.”
Persons: Clare Pleydell Organizations: Liontrust Asset Management Locations: U.S, Europe
Howard Schnapp | Newsday | Getty ImagesThe tide could be turning for commercial real estate. That could give interest rate-sensitive sectors such as commercial real estate long-awaited positive momentum. While lower rates are not a "magic bullet," the easing of the Fed's monetary policy "lays the groundwork for a commercial real estate recovery," analysts wrote in a follow-up report in late September. More than $40 billion in transactions occurred during the second quarter, a 13.9% jump quarter over quarter, but still 9.4% lower year over year, according to real estate data intelligence firm Altus Group. While these dynamics could set the stage for a broader recovery, with some major subsectors such as commercial retail real estate picking up in tandem, the path forward will likely be uneven.
Persons: Howard Schnapp, Alan Todd, Todd, Willy Walker, Walker, Dunlop, what's, Wells, Wells Fargo, , Chad Littell, Littell Organizations: Newsday, Federal Reserve, Bank of America, CNBC, REIT, Real, Board, New York, U.S, Capital Locations: Melville , New York, Wells, U.S, Manhattan, Wells Fargo
And it could bring the devastating war in Gaza closer to an end, experts say – if Israel and its allies can seize the opportunity. Before the war, power in Hamas was decentralized – with Gaza political chief Sinwar just one of many leaders, Chorev said. Shira Efron, a senior director of policy research at the Diane and Guilford Glazer Foundation said Sinwar’s killing gives Netanyahu the chance to claim a victory. Sinwar’s killing could also pave the way for a hostage and ceasefire agreement, since he was believed to be one of the main blockers of a deal. Chorev, from Tel Aviv University, added that Netanyahu could see Sinwar’s killing as a moment to cement his legacy.
Persons: Yahya Sinwar’s, Harel Chorev, Moshe Dayan, Sinwar, Chorev, “ Sinwar, Mohammed Deif, , Mohammed, Khalil Al Hayya, ” Chorev, Netanyahu’s, ’ Netanyahu, Shira Efron, Diane, Guilford, Netanyahu, , Einav Zangauker, Matan, Uzi Rabi, Critics of Netanyahu, Joe Biden, clawing, Rabi, Yoav Gallant, Efron, ” Efron Organizations: CNN, Israel, Moshe, Tel Aviv University, Gaza, Hamas ’, Hamas, Guilford Glazer Foundation, Locations: Israel, Gaza, Cairo, “ Israel, United States, Lebanon, Rafah, , Gaza’s
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Better-than-expected growth for ChinaChina's third-quarter gross domestic product expanded by 4.6% year on year, according to the National Bureau of Statistics. Chinese and U.S. retail sales going strongChina's retail sales for September grew 3.2% from a year ago, said the National Bureau of Statistics. Across the Pacific Ocean, retail sales in the U.S. rose a seasonally adjusted 0.4% for September.
Persons: Dow Jones, Pat Gelsinger, Altera Organizations: CNBC, China, National Bureau of Statistics, Dow, Dow Jones, Nasdaq, Intel, U.S . Federal Reserve Locations: U.S, Asia, Pacific, Shanghai
Wall Street is trying to make AI search sexy
  + stars: | 2024-10-18 | by ( Bianca Chan | ) www.businessinsider.com   time to read: +8 min
Finance firms and fintech startups are trying to use generative AI to improve search capabilities. Perfecting search, down the line, could lead to more automation and more complex generative AI tools. It has already onboarded some-25 Wall Street firms onto its generative AI platform. AdvertisementMeanwhile, two Stanford grads came together to build Mako, a generative AI associate for the private-equity industry. The search tool is the bank's second such generative AI tool, the first being a generative AI developer co-pilot that helps software engineers code more efficiently.
Persons: Goldman Sachs, Blackstone, , Goldman hoovered, Neema Raphael, Raphael, it's, Morgan Stanley's, Keri Smith, Smith, Jeff McMillan, Gabe Stengel, Stanford grads, It's, Peter Anderson, Familiarizing, Goldman Organizations: Service, Bloomberg, Nasdaq, Goldman, Blackstone, Google, Bank of America's, Accenture, Stanford, Balyasny Asset Management Locations: Wall, OpenAI
CNN —Texas death row inmate Robert Roberson sat praying in a cell Thursday night, just feet from the execution chamber where he was set to die by lethal injection for the “shaken baby” death of his toddler. Just over 90 minutes before Roberson’s execution was set to begin, the House committee was able to secure a temporary restraining order against the state, pausing the execution. Roberson’s case is called into questionAdvocates for Roberson insist the diagnosis that his daughter died from shaken baby syndrome is inaccurate and has been discredited. Shaken baby syndrome is accepted as a valid diagnosis by the American Academy of Pediatrics and supported by child abuse pediatricians who spoke with CNN. Since 1992, courts in at least 17 states and the US Army have exonerated 32 people convicted in shaken baby syndrome cases, according to the National Registry of Exonerations.
Persons: Robert Roberson, Nikki, Roberson, God, , , Amanda Hernandez, Robert Roberson –, Gretchen Sween, Joe Moody, Jeff Leach, Jennifer Roberson, Robert, “ It’s, Brian Wharton, Wharton, ” Wharton, “ We’ve, ” Roberson, , Moody, Leach, Greg Abbott, Ken Paxton, pediatricians, Nikki Curtis, Nikki “, Dr, Sandeep Narang, Antoinette Laskey Organizations: CNN, Texas Supreme, Texas House, Texas Department, Criminal, Texas, US, Appeals, Criminal Justice, Division, Texans, Huntsville Unit, Texas Capitol, Texas Gov, American Academy of Pediatrics, US Army, National Registry, American Academy of Pediatrics ’, Child Locations: Texas, Palestine , Texas
CNN —Joel Dahmen is in danger of losing his PGA Tour card after he was penalized four shots at the Shriners Children’s Open on Thursday for having too many clubs in his bag. It was a mistake that could prove decisive for a player who is on the bubble. 124 in the FedEx Cup Fall standings, with the top 125 at the end of the fall circuit able to retain their tour status for 2025. You want to be mad at yourself, you want to get mad at Geno, you want to get mad at the world,” he continued. Eight players will finish their opening rounds on Friday after darkness suspended play on Thursday, with the second round beginning at 9:55 a.m.
Persons: CNN — Joel Dahmen, , Dahmen, , , Geno, it’s, that’s, There’s, ” Dahmen, Taylor Pendrith Organizations: CNN, PGA, Shriners, FedEx, Shriners Children’s
Sam Altman has taken a more prominent role at OpenAI as several top leaders have left the company. Altman risks spreading himself too thin, three management experts told BI. Now, as Altman leads OpenAI toward a possible for-profit future, some corporate management experts warn that the CEO could stretch himself too thin — taking on too many job functions. Altman and a spokesperson for OpenAI didn't respond to requests for comment from Business Insider. It's possible that Altman could take on the CTO role on a temporary basis, Sonnenfeld said, "but it's not likely that he can do this very long."
Persons: Sam Altman, Altman, , Sam Altman's, OpenAI, Mira Murati, Altman hasn't, Fiss, Elon, Patricia Lenkov, Lenkov, Jeffrey Sonnenfeld, Sonnenfeld Organizations: Service, Business, Bloomberg, University of Southern, Apple, Twitter, JPMorgan, Yale University's School of Management, Yale, Leadership Locations: OpenAI, University of Southern California
The onshore yuan ticked 0.06% higher to 7.1199 per dollar, while its offshore counterpart rose 0.12% to 7.1282. Data on Thursday showed U.S. retail sales growth was higher than expected and the ECB cut interest rates by 25 basis points. "All of that has played in to a stronger dollar," said Jason Wong, senior strategist at BNZ in Wellington. The New Zealand dollar was similarly eyeing a 0.75% fall for the week and was little changed at $0.6063 in the Asia session. The U.S. dollar index hit a 2-1/2 month high of 103.87 on Thursday and is up nearly 0.8% forthe week thus far.
Persons: Donald Trump, Ho Woei Chen, Jason Wong, There's, Yahya Sinwar, Israel's, Benjamin Netanyahu, Sterling Organizations: European Central Bank, People's Bank of China, Securities, Fund, Insurance, ECB, Reuters, Trump, New Zealand, Bank of England, U.S Locations: Asia, China, Wellington, U.S, Israel, Gaza
The latter appeared to hint at the Germany's waning influence over regional policy — a likely unthinkable notion only a few years ago. "The question is whether German car makers manage to adjust their product portfolios, change their organizations, and ramp up productivity quickly enough to preserve the status and relevance they had for decades." Brand loyaltyNot everyone is as concerned about the outlook for Germany's car industry. Sigrid de Vries, director general of the European Automobile Manufacturers' Association (ACEA), a car lobby group, said she finds it "really hard to believe" that Germany's auto sector is struggling to adapt to the electrification. Stephane Mouchmouche | Afp | Getty ImagesSome hope that this week's Paris Motor Show could prove to be a turning point for Europe's auto industry.
Persons: Julian Stratenschulte, Rico Luman, Robert Habeck, Luman, Chancellor Olaf Scholz, Germany's, Sigrid de Vries, de Vries, ACEA's de Vries, Porte, Stephane Mouchmouche, John Cooper, Julia Poliscanova, Poliscanova Organizations: VW, Getty, Volkswagen, Mercedes, Benz Group, BMW, Union, ICE, ING, CNBC, Federal, Economic Affairs, Emden ., EVs, Reuters, European Automobile Manufacturers ' Association, Paris, Automotive Summit, Porte de, Afp, John Cooper Works Electric, Transport, Environment Locations: Wolfsburg, Germany, China, Emden, German, Berlin, Europe, France, automaking, Paris
CNN —For cancer patients, the hair loss that may come with treatment can be hard to deal with. With some types of the disease, such as breast cancer, hair loss can occur in 99.9% of chemotherapy patients. The cost to insurers is projected to be around $1,700 per helmet; in comparison, a course of scalp cooling treatment typically costs between $1,500 and $3,000. Changing the experience of chemoAccording to Andrea Smith, nurse leader at Memorial Sloan Kettering’s Breast and Imaging Center, a cancer treatment center in New York City, the fear of hair loss affects treatment decisions. Whatever the method, avoiding hair loss is a “game-changer” for cancer treatment, Smith added.
Persons: , Aaron Hannon, Hannon, ” Hannon, haven’t, ” Aaron Hannon, Barbara Oliveira, Martin O’Halloran, “ I’ll, Luminate, Andrea Smith, , ” Smith, Smith, we’ve Organizations: CNN, US Food and Drug Administration, University of Galway, Sloan, Imaging Locations: Irish, Europe, Ireland, New York City, chemo
CNN —President Joe Biden envisioned a “day after” for Gaza without Hamas in power following Israel’s killing of Hamas leader Yahya Sinwar. This is only half the story, since at times, US officials have suggested Netanyahu had interests in prolonging the war as well. The White House believes that ending the war in Gaza is a precondition for lessening the chances of a disastrous regional war that it dreads. Is really his object to release … Israeli hostages still held in Gaza? If he keeps his word, some analysts will interpret his restraint, such as it is, as an attempt to avoid alienating the possible next president, Harris.
Persons: Joe Biden, Yahya Sinwar, Kamala Harris, Sinwar, Hassan Nasrallah, , Biden, Benjamin Netanyahu, Biden administration’s, Netanyahu, , Israel, , Firas Maksad, Jessica Dean, CNN Max, CNN’s Kayla Tausche, Sean Gallup, he’s, Harris, Donald Trump, ” Harris ’, Trump, Bill Organizations: CNN, , UN, Middle East Institute, Brandenburg, Airport, Getty, White, Democratic, Jewish, Palestinian Youth Movement, U.S . Palestinian Community Network, Anadolu, Trump, White House Locations: , Gaza, Israel, , United States, Washington, Lebanon, Berlin, Schoenefeld, Germany, Europe, Michigan, Wisconsin, U.S, Detroit, Anadolu
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