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☆ Why Americans Love Aldi; Food Inflation, Budget, Discount Groceries
▼ + stars: | 2024-11-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +11 min

She usually shopped at Publix, but in 2021, when inflation was sending grocery prices soaring, her curiosity got the better of her. AdvertisementAs grocery prices have jumped by double digits over the past few years, people have felt the sting. So how did a German grocery chain find such a ravenous following in America? For comparison, about 20% of groceries sold in the US last year were store brands, according to the Food Marketing Institute. He expects to see even more Aldi stores opening.

Persons: Julie Herron, Herron, Theo, Karl Albrecht, Aldi, wasn't, Oscar Mayer, Gen Z, Scott Patton, Patton, Joe's, there's, Phil Lempert, She's, Lempert, it's, Dunnhumby, Zak Stambor, I'm, Trump, Jason Hart, they'll, Alex Bitter Organizations: Aldi, Kroger, Foods, Iowa City, Employees, Bank of America, Food Marketing Institute, Aldi USA, Costco, Facebook, Southeastern Grocers, Winn, EMARKETER, Business, Walmart Locations: Nashville, Aldi, Euromonitor, America, Germany, Iowa City , Iowa, Charlotte , North Carolina, Wisconsin, Florida, Washington and Colorado, Illinois

☆ Why are planes so jammed? Airlines want it that way so they can charge more
▼ + stars: | 2024-11-26 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

A record 31 million passengers are expected to fly US airlines over the course of this week, according to Airlines for America, the industry trade group. And while many airlines have increased the available number of flights and seats, those capacity increases have not kept pace with demand. With some of the busiest months yet to come, a new record for the percentage of seats airlines’ filled is within reach. Airlines are signaling prices will probably go higher as some of the lower-fare airlines struggled with ongoing losses and sharply reduced their capacity. But critics of the airlines say troubles at the lower fare airlines aren’t solely to blame for higher fares.

Persons: it’s, Fuller, —, ”, Scott Keyes, Andrew Nocella, “ We’ve, Scott Kirby, William McGee, It’s, ” McGee, “ Organizations: New, New York CNN, Airlines for America, Spirit Airlines, Southwest Airlines, JetBlue Airways, Spirit, JetBlue, Frontier, American Economic Liberties Locations: New York, Cirium, Southwest, Delta, United States, United

☆ Scott Bessent Helped ‘Break’ the Bank of England. Now He’ll Run the U.S. Treasury.
▼ + stars: | 2024-11-26 | by ( Maureen Farrell | ) www.nytimes.com time to read: +1 min

Three decades before he was tapped to lead the Treasury Department, Scott Bessent was asked to help break another country’s financial system. Then 29 years old, Mr. Bessent, working for the financier George Soros, helped “break” the Bank of England with crushing trades against the British pound. He was on a small team at Mr. Soros’s investment firm that, in 1992, amassed a $10 billion bet that the pound was overvalued. Mr. Soros’s fund earned more than $1 billion, along with credit (and infamy) for orchestrating one of Wall Street’s most audacious trades. When President-elect Donald J. Trump announced his selection of Mr. Bessent as Treasury secretary last week, there was no mention of the connection to Mr. Soros.

Persons: Scott Bessent, Bessent, George Soros, Donald J, Trump, Soros Organizations: Treasury Department, Bank of England, Mr Locations: British

☆ Donald Trump selects Kevin Hassett to lead National Economic Council
▼ + stars: | 2024-11-26 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

White House Council of Economic Advisers Chairman Kevin Hassett addresses reporters during the daily briefing at the White House in Washington, U.S. February 22, 2018. President-elect Donald Trump picked Kevin Hassett to lead the National Economic Council, a role that puts him at the center of the administration's policy-making discussions from trade to taxes and deregulation. The move brings Trump closer to rounding out his economic team, with U.S. trade representative being the last of the key positions left. During Trump's first administration, Hassett served as the chairman of the Council of Economic Advisers for two years, supporting the Republican's corporate tax cuts and defending Trump's punitive tariffs. Hassett previously served as a scholar of fiscal policy at the conservative American Enterprise Institute think tank before Trump nominated him to the White House role in 2017.

Persons: Kevin Hassett, Donald Trump, Trump, Hassett, Trump's, Jared Kushner, Scott Bessent Organizations: White, Council, Economic, National Economic Council, Trump, U.S, of Economic Advisers, American Enterprise Institute, Group Locations: Washington , U.S, Mexico, Canada

This spiraled into a diss-track war in April and May, with Cole, Drake, Rick Ross, and Lamar all releasing new songs. Later in the track, Drake references Cole's diss track and apology. Evan Agostini/Invision/APLater in the track, Drake raps that he gave Future his first No. At the end of the track, Lamar samples a 1994 Tupac interview to simulate a conversation between the two rappers. Instead of insulting Drake, Lamar claims that the "Push Ups" rapper's circle has been feeding him lies, leaking information about him, and hoping for his downfall.

Persons: Drake, Kendrick Lamar, Lamar, Lamar dissed Drake, J, Cole, Rick Ross, Hannah Getahun, Joseph Okpako, WireImage Lamar, Jermaine Cole, Big, Wale, Pusha, Meek Millz, Big Sean, Jay, Tyler, Mac Miller, Kunta, Lamar hasn't, Meek, Getty, Tim Mosenfelder, Aubrey, Muhammad Ali, Michael Jackson, Jackson, “, rics,, m., ake Organizations: UMG, Spotify, Future, Metro, Universal Music Group, Wireless, Lamar, Big, Rocky, Rap Locations: Drake's, Lamar, Drake, Diss, Lamar's, Florida

☆ CNBC Daily Open: Investors really like Trump’s Treasury secretary pick
▼ + stars: | 2024-11-26 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Stefani Reynolds | Bloomberg | Getty ImagesThis 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. This time, it's revved up by Trump's Treasury secretary pick — Scott Bessent. "I would recommend that tariffs be layered in gradually," Bessent told CNBC earlier this month before his nomination. Small-cap stocks performed even better, probably because Bessent has expressed support for Trump's economic agenda, which would benefit smaller, domestically oriented companies.

Persons: SPX, Scott Bessent, Stefani Reynolds, it's, — Scott Bessent, Bessent, —, Russell, Quincy Krosby, Alex Harring, Hakyung Kim Organizations: Key, Bloomberg, Getty, CNBC, Group, Trump, Dow Jones, Nasdaq, Treasury, LPL Locations: Washington , DC, U.S

The latest:Trump wants to impose 25 percent tariffs on Canada and Mexico “on ALL products coming into the United States,” he said on Truth Social. He also wants an “additional” 10 percent tariff on imports from China, which Trump blames for the fentanyl crisis, a charge that Beijing has repeatedly disputed. Europe, Japan and South Korea weren’t even mentioned in Trump’s announcement, but stocks have fallen there, too. That suggests rising fears that a new trade war could scramble global supply chains and dent profits. Automakers are some of the hardest hit stocks, with Volkswagen, Stellantis and Nissan, which run manufacturing operations in Mexico, all down.

Persons: Donald Trump’s, Trump, ”, South Korea weren’t, Scott Bessent, it’s Trump, Robert Lighthizer, Bill Ackman, ” Mohit Kumar Organizations: Trump, Investors, United States ’, —, Truth, Canadian, Volkswagen, Nissan, Treasury Department, Trade Representative, Jefferies Locations: — Canada, China, Mexico, Canada, United States, Beijing, Europe, Japan, South Korea, America

☆ The Art of the Tariff: Trump's latest threat is right out of his negotiating playbook
▼ + stars: | 2024-11-26 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +5 min

AdvertisementDuring his first term, Trump threatened tariffs while renegotiating trade with Mexico and Canada. Scott Bessent, Trump's pick for Treasury secretary, has called tariffs a "negotiating tool." In June of 2019, Trump threatened tariffs against Mexico if the country didn't alter its immigration system, which it eventually did. While financial analysts are taking Trump's threats seriously, some banking leaders seem to think that Trump's most recent tariff threat is a continuation of his prior negotiation tactic. Advertisement"This is President Trump's negotiating style: step one, punch in the face, step two, let's negotiate," Kieran Calder, the head of equity research for Asia at Union Bancaire Privée, said, according to Bloomberg.

Persons: Trump, Scott Bessent, Donald Trump, Robert Lawrence, Lawrence, Mark Blyth, Blyth, He's, he's, Trump's, Kieran Calder, Union Bancaire Privée, — Trump, Luis Costa Organizations: Biden, Peterson Institute for International Economics, European Union, American Free Trade, Brown University, White, Brookings Institute, NAFTA, Union Bancaire, Bloomberg, UBS, Citi Bank, Trump Locations: Mexico, Canada, Asia, China

☆ Musk's F-35 jab could be a preview of the fights DOGE will wage to cut government spending
▼ + stars: | 2024-11-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Cookbook authors and chefs explain how you can make almost any part of your holiday meal in a Crock-Pot . Today, we're looking at what Elon Musk's jab at the F-35 says about the debate over using manned fighters or drones in warfare . AdvertisementWith promises of cutting trillions of dollars in government spending, DOGE will need to swing big. Drone usage in combat is on the rise, as is evident in the Ukraine war, and offers benefits around cost. Zoom is taking an AI-first approach to corporate communications , CEO Eric Yuan wrote in a company blog post published Monday.

Persons: Elon, Marc Piasecki, Chelsea Jia Feng, Matthew Loh, Mia Jankowicz, Donald Trump's, Lockheed Martin, Vivek Ramaswamy, Clawson, Ryan Pickrell, Mia, Justin Sullivan, he'll, Trump, Warren Buffett, he's, Pavlo Gonchar, Eric Yuan, it's, Jenny Chang, Rodriguez, Dan DeFrancesco, Grace Lett, Ella Hopkins, Amanda Yen, Jack Sommers, London.Milan Sehmbi Organizations: Business, of Government, Lockheed, Aerospace, Defense, Hezbollah, Super, Republican, Images Trump, Social, Key Square, Scott, Berkshire Hathaway, Getty Images, Communications, Aldi, Google Locations: Israel, Ukraine, Canada, Mexico, China, New York, Chicago, London, London.Milan

☆ Watch Monday's full episode of the Halftime Report — November 26, 2024
▼ + stars: | 2024-11-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Monday's full episode of the Halftime Report — November 26, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.

Persons: CNBC's Scott Wapner Organizations: CNBC PRO

☆ Treasury yields rise as investors await Fed meeting minutes, key data
▼ + stars: | 2024-11-26 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 4.278% after rising by more than two basis points. U.S. Treasury yields were higher on Tuesday as investors looked ahead to the latest Federal Reserve meeting minutes and key economic data due this week. Investors considered the state of the economy as they looked to upcoming data and weighed the outlook for monetary policy as the Federal Reserve's latest meeting minutes are set to be released. Key inflation data is set to be published as the week continues, with the personal consumption expenditure price index for October due Wednesday. The PCE is the Fed's favored inflation gauge and could therefore inform its monetary policy decisions.

Persons: Donald Trump's, Scott Bessent Organizations: Treasury, U.S, Reserve, Investors, Federal, PCE Locations: U.S

☆ 'Pirates of the Caribbean' was one of the biggest franchises of the '00s. Kiera Knightley said the films were the 'making and breaking' of her.
▼ + stars: | 2024-11-26 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +3 min

AdvertisementKiera Knightley played Elizabeth Swann in the "Pirates of the Caribbean" franchise. Knightley said the films were the reason she "was taken down publicly." Kiera Knightley said that the "Pirates of the Caribbean" franchise made her career, but it was also the reason that she "was taken down publicly." Knightley said she wouldn't appear in another major franchise following her experience with "Pirates of the Caribbean." It's years of your life, you have no control over where you're filming, how long you're filming, what you're filming."

Persons: Kiera Knightley, Elizabeth Swann, Knightley, Orlando Bloom, Johnny Depp, TheNumbers.com, Oscar, " Knightley, Bloom, Will Turner, hadn't, Legolas, Ridley Scott Organizations: Pirates, Disney, Stranger Tides, The Times, Hollywood Locations: Caribbean, London, Kingdom, Antarctica

☆ Ex-Google CEO warns that 'perfect' AI girlfriends could spell trouble for young men
▼ + stars: | 2024-11-26 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

AdvertisementIn a podcast interview, Eric Schmidt warned that AI dating may increase loneliness among young men. The former Google CEO said young men dating the "perfect" AI girlfriend may also lead to obsession. He suggested AI regulation changes but expects little action without a major incident. Former Google CEO Eric Schmidt recently shared his concerns about young men crafting AI romantic partners and said he agrees that AI dating will actually increase loneliness. AdvertisementSchmidt said he doesn't expect much AI regulation in the next four years as Trump's administration will likely have other priorities.

Persons: Eric Schmidt, Schmidt, G, Scott Galloway, he's, Donald Trump's, Brendan Carr Organizations: Google, Study

☆ Hong Kong is becoming a hub for financial crime, US lawmakers say
▼ + stars: | 2024-11-26 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Hong Kong has become a center for money laundering and sanctions evasion under the tightening grip of Beijing, US lawmakers have warned, calling for a re-evaluation of America’s close business relationship with the Asian financial hub. “We must now question whether longstanding US policy towards Hong Kong, particularly towards its financial and banking sector, is appropriate,” they added. Rubio, a fierce critic of Beijing’s crackdown on Hong Kong, has sponsored legislation that sanctioned Chinese and Hong Kong officials for alleged human rights violations in the city. This has massive implications for US businesses with big exposure to Hong Kong,” Fish said. “Sadly, the idea of Hong Kong as autonomous from China is now a farce … US companies need to understand that their Hong Kong operations will likely fall under increased scrutiny.”

Persons: Janet Yellen, ”, “, Donald Trump, Hong Kong, John Moolenaar, Raja Krishnamoorthi, Trump, Marco Rubio, Rubio, Scott Bessent, Isaac Stone Fish, Bessent –, ” Fish Organizations: Hong Kong CNN, CNN, US Treasury Department, Hong, European Union, Treasury Department, Republican Rep, White, US Locations: Hong Kong, Beijing, China, Washington, Hong, Russia, North Korea, People’s Republic of China, Iran, Ukraine, Russian, United Kingdom

☆ Insana: Why Wall Street’s rally after Trump’s Treasury pick may be unjustified
▼ + stars: | 2024-11-26 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

Wall Street's celebration of President-elect Donald Trump's Treasury pick may be a tad premature. The market's resurgence following the Bessent announcement makes for calming copy, but is it the correct assessment of what's to come? It's true that Wall Street veteran Bessent has been a successful money manager. However, Bessent suggested that he is comfortable using tariffs as negotiations to " escalate to de-escalate " the risks of global trade imbalances. But little of what's been discussed about the Treasury Secretary pick supports the rather large rallies we've seen in both stocks and bond prices.

Persons: Donald Trump's, Scott Bessent, Bessent, Trump, We'll, what's, we've, –, Ron Insana Organizations: Donald Trump's Treasury, Dow Jones Industrial, Wall, Bloomberg News, U.S, Trump, Biden, CNBC Locations: China, Mexico, Canada, U.S, Ukraine

☆ Gold plunges 3% as Trump Treasury pick and potential Israel-Hezbollah truce fuel risk-on mood
▼ + stars: | 2024-11-26 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +4 min

Gold prices lost about 3% after President-elect Donald Trump picked Scott Bessent as his Treasury secretary, with reports of Israel and Hezbollah nearing a ceasefire deal also eroding the safe-haven metal's appeal. A potential Israel-Hezbollah ceasefire agreement and Bessent's appointment were the key contributors to the bullion selloff amid a risk-on sentiment, Shiels added. Higher interest rates tend to erode the appeal of non-interest bearing gold compared to Treasuries — a competing safe-haven asset. Gold prices fell to a two-month low right after Trump's victory before rebounding to the $2,700 levels. Similar to when the Middle East conflict first broke out, gold prices tend to react very sharply initially before correcting over time as economic factors come back into focus, Eckford added, maintaining that gold prices were still set to advance toward $3,000 in 2025.

Persons: Jerome Powell, Donald Trump, Scott Bessent, Nicky Shiels, Danny Danon, Israel, John Kirby, it's, Bessent, Daniel Ghali, Shiels, Ghali, Donald Trump's, Trump, Robert Eckford, Rua Gold, Eckford Organizations: Federal, New York Mercantile, MKS, House, Key, Shanghai Gold Exchange, Federal Reserve, CNBC Locations: Israel, Key U.S, Canada, Mexico, Russian, Ukraine

☆ Trump's Mexican tariffs threaten to make life more difficult for automakers — including Tesla and BYD
▼ + stars: | 2024-11-26 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

AdvertisementDonald Trump has vowed to hit Mexico with a 25% tariff, which would affect automakers including Tesla. The threat of tariffs on Mexico has also put a $10 billion new factory proposed by Elon Musk in limbo. Musk backed Trump's election campaign and has been given a role to target wasteful government spending. The world's richest person praised Trump's proposed tariffs on Mexico and China in an X post on Monday, saying they would be "highly effective." Analysts told BI that the tariffs floated by Trump would deter automakers such as Tesla from investing south of the border.

Persons: Donald Trump, Tesla, Trump, Elon Musk, Donald Trump's, Alex Brandon, Musk, Trump's, Sam Fiorani, Fiorani, Ford, Stellantis, David Whiston, Scott Olson, BYD, Stella Li, Stephanie Brinley, Alanis King, Brinley Organizations: Truth, Elon, AP, Investment, UBS, Trump, AutoForecast Solutions, General Motors, GM, Ford, Getty, Toyota, Tacoma, Nissan, Volkswagen, EV, BYD, SAIC, Reuters, Street Journal, Chrysler, BMW, P Global, Toyota Tacoma Locations: Mexico, Monterrey, China, Detroit, United States, Cuautitlan, Toluca, San Luis Potosí

☆ Scott Turner, a former NFL player and Trump’s pick to lead Housing and Urban Development, faces a difficult task
▼ + stars: | 2024-11-26 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

Donald Trump ran on the promise of steep government budget cuts, and some industry experts believe money flowing toward HUD could be on the chopping block. The housing agency provides rental assistance for low-income households, administers mortgage insurance to prospective homeowners and enforces fair housing law. During Trump’s first term, his office repeatedly sought to make steep cuts to HUD’s budget, though they never passed Congress. If Trump successfully implements budget cuts “there will be longer waiting lists for housing vouchers. Liz Osborn, the vice president of policy at Enterprise Community Partners, a nonprofit focused on home access and affordability, said that HUD budget cuts in Trump’s second term aren’t a guarantee, though.

Persons: Scott Turner, Donald Trump, ”, Bob Greenstein, Turner, Ben Carson, Trump’s, Carl Harris, ” Harris, Bob Broeksmit, Broeksmit, Trump, Ginnie Mae, ” Broeksmit, Elon Musk, Vivek Ramaswamy, that’s, Howard Husock, Biden, ” Husock, Husock, Liz Osborn, “, ” Osborn, ” Turner, ” Trump, JPMorgan Chase Organizations: CNN, Department of Housing, Urban Development, Brookings Institution, NFL, National Association of Home Builders, HUD, Mortgage Bankers Association, Federal Housing Administration, “ Department, Government, American Enterprise Institute, Enterprise Community Partners, White, Economic, Scott’s, Urban Institute, JPMorgan Locations: America, Trump’s

Senate Republicans derailed President-elect Donald Trump’s first jaw-dropping pick for attorney general, Matt Gaetz. But it’s unclear if they will be able to block any other controversial nominees despite skepticism from some rank-and-file Republicans. In the weeks since Trump’s dramatic election victory, the power struggle between the president-elect and independent-minded Senate Republicans has been playing out in plain view. Senators are getting a brief reprieve from questions about Trump’s nominees as they celebrate Thanksgiving. Some Senate Republicans who leveled some of the strongest criticism at Gaetz said they could live with Hegseth, despite the 2017 assault allegations.

Persons: Donald Trump’s, Matt Gaetz, MAGA, Tulsi Gabbard, Pete Hegseth, Robert F, Kennedy Jr, Hegseth, ”, Sen, Kevin Cramer, Joni Ernst, Kirsten Gillibrand, ” Cramer, “ I’m, Gaetz, Cramer, Gaetz's, Kevin McCarthy, —, JD Vance, Pam Bondi, Bondi, Trump, … ” Sen, Markwayne Mullin, Pete, Gabbard, Kennedy, Lisa Murkowski, Sen, Ron Johnson, ” Gabbard, Bashar al, Assad, “, ” Sen, Tammy Duckworth, Eric Schmitt, Steven Cheung, Bill Hagerty, Adam Schiff, he’s Organizations: Republicans, GOP, Trump, Senators, Armed Services Committee, Sens, Justice Department, Union, Centers for Disease Control, Food and Drug Administration, National Institutes of Health, RFK, Health, Fox News, Democratic, Armed Services, CNN, Press, “, ” Locations: Iowa, Florida, “ State, Alaska, Russia, Russian, Iraq, Japan

☆ Dow jumps 400 points to new record close, Russell 2000 hits all-time high as investors cheer Trump's Treasury pick
▼ + stars: | 2024-11-25 | by ( Alex Harring | Hakyung Kim | ) www.nbcnews.com time to read: +3 min

A broad stock rally pushed the Dow Jones Industrial Average, S&P 500 and small-cap focused Russell 2000 index to new records on Monday. Investors bet President-elect Donald Trump’s choice for Treasury secretary, Scott Bessent, would help guide the economy without sparking inflation. The broad S&P 500 gained 0.3% to end at 5,987.37. Both hit new all-time highs in the session, while the Dow also notched a fresh record close. More than 3 out of every 4 S&P 500 stocks traded higher in the session.

Persons: Russell, Donald Trump’s, Scott Bessent, Trump’s, ” Bessent, Trump, Quincy Krosby, ” Krosby Organizations: Dow Jones, Dow, Nasdaq, Key Square Group, CNBC, Treasury, U.S, LPL, Nvidia, Netflix, Federal Locations: Quincy, U.S

☆ Can Wall Street Billionaires Deliver on Trump’s Blue-Collar Promise?
▼ + stars: | 2024-11-25 | by ( Alan Rappeport | Ana Swanson | ) www.nytimes.com time to read: +1 min

When Donald J. Trump first ran for the White House in 2016, his closing campaign advertisement lamented the influence of Wall Street in Washington, flashing ominous images of big banks and the billionaire liberal philanthropist George Soros. Now, as president-elect, Mr. Trump has tapped two denizens of Wall Street to run his economic agenda. Mr. Trump’s choices to lead his economic team show the prominence of billionaire investors in setting an agenda that is supposed to fuel a “blue-collar boom” but that skeptics think will mostly benefit the rich. As Mr. Trump prepares to assume the presidency in January, business owners and investors are closely attuned to which of his economic promises he will ultimately follow through on. The selections of Mr. Bessent and Mr. Lutnick cement a hold by Wall Street executives over the two most important economic posts in any administration.

Persons: Donald J, Trump, George Soros, Scott Bessent, Soros, Howard Lutnick, Cantor Fitzgerald, Bessent Organizations: White House, Commerce Department, Mr, Wall Street Locations: Washington, China

☆ What Trump's Treasury pick could mean for his economic policies
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat Trump's Treasury pick could mean for his economic policiesEd Mills, Raymond James Washington policy managing director, joins CNBC's 'Money Movers' to discuss Trump's pick of Scott Bessent for Treasury Secretary, how it could change the implementation of some of Trump's economic policies, and more.

Persons: Ed Mills, Raymond James Washington, Scott Bessent Organizations: Treasury

☆ An inside look at Treasury secretary nominee Scott Bessent's research process and 'competitive edge'
▼ + stars: | 2024-11-25 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

AdvertisementA 2017 presentation for macro investor Scott Bessent's hedge fund explains his research process and "edge." His firm, Key Square Capital, struggled to generate returns despite its strong pedigree. Bessent — the former righthand man for billionaire George Soros and now the nominee for Treasury secretary by President-elect Donald Trump — saw billions of dollars leave his firm, Key Square Capital, after its 2016 launch, Reuters reported. It's not clear if there have been any changes to the investment process in the seven years since the presentation was created. Advertisement"Key Square views its research process as a think tank that is bolted on to disciplined trading and risk management," one slide reads.

Persons: Scott Bessent's, Donald Trump, Bessent, George Soros, Donald Trump —, Soros, Jim Chanos Organizations: Key Square Capital, Reuters, Business, Associates, Key

☆ Ukraine-Russia conflict: British man captured by Russian forces, state media says
▼ + stars: | 2024-11-25 | by ( Rob Picheta | ) edition.cnn.com time to read: +2 min

London CNN —A British man has been taken prisoner while fighting for Ukraine in Russia’s Kursk region, Russian state media has reported. Russian state media outlet TASS said the man was 22-year-old James Scott Rhys Andersen, a former British soldier, citing a military source. The British Foreign Office confirmed it was “supporting the family of a British man following reports of his detention.”In a video circulating on Russian media, a man identifies himself as James Scott Rhys Anderson and said had previously fought in the British Army before flying to Poland and taking a bus to the Ukrainian border. People of various nationalities, often former soldiers, have fought against Russian forces in Ukraine’s International Legion, bolstering Kyiv’s armed forces in the conflict. Kyiv launched an incursion into Russia’s Kursk region in August, taking Moscow and even its own allies by surprise.

Persons: London CNN —, James Scott Rhys Andersen, James Scott Rhys Anderson, Volodymyr Zelensky Organizations: London CNN, Ukraine, British Foreign Office, British Army, Russian, Ukraine’s International Legion, CNN, Russia Locations: Russia’s Kursk, British, Poland, Ukrainian, Kyiv, Moscow, Russia, Ukraine, Kursk

☆ Andersen: S&P 500 target is 6,600 by year-end.
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAndersen: S&P 500 target is 6,600 by year-end. Mark Andersen, Chief Investment Officer at UBS, discusses the 2025 U.S. market outlook, predicting benefits from less regulation, positive impacts from Scott Bessent as Treasury Secretary.

Persons: Mark Andersen, Scott Bessent Organizations: Andersen, UBS Locations: U.S

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