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☆ Elon Musk's lawyer is helping Adam Neumann as he tries to buy back WeWork
▼ + stars: | 2024-02-07 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Adam Neumann is trying to buy back WeWork, the now-bankrupt company he cofounded. He's being aided by lawyer Alex Spiro, who helped Elon Musk take over Twitter in 2022. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdam Neumann is trying to buy back WeWork – with the help of a lawyer close to Elon Musk.

Persons: Adam Neumann, He's, Alex Spiro, Elon Musk, Jay, Megan Thee, —, Neumann, Quinn Emanuel Urquhart, Sullivan who's, Musk, Spiro, Quin Emanuel, Tesla, Vernon Unsworth, Randeep Hothi, Jeanine Zalduendo, Zalduendo, Bobby Shmurda, Robert Kraft, Dinesh D'Souza, Thabo Sefolosha Organizations: Twitter, Service, New York Times, Bloomberg, Bloomberg Law, SpaceX, Securities and Exchange Commission, JPMorgan Chase, New England Patriots Locations: British, Alameda County, Los Angeles

☆ New Senate bill aims to kill proposed SEC rule on AI conflicts of interest
▼ + stars: | 2024-02-06 | by ( Emily Wilkins | ) www.cnbc.com time to read: +3 min

More than 20 Republican lawmakers in the House and Senate sent Gensler a letter last fall, calling on the SEC to withdraw the rule. Ted Cruz (R-Texas) and Bill Hagerty (R-Tenn.). The Senate bill currently lacks Democratic support, meaning it's unlikely to get much traction as long as Democrats control the Senate. If the final SEC rule is issued after the beginning of November, and not before it, then the rule could fall in the window of CRA, come January 2025. He also argued the precedent has been for the SEC to require firms to disclose potential areas of interest, not eliminate them completely.

Persons: Ted Cruz, Sen, Bill Hagerty, WASHINGTON —, Gary Gensler, Gensler, Sens, Cruz, Ritchie Torres Organizations: Republican, Republicans, U.S, Capitol, Washington , D.C, Securities and Exchange Commission, SEC, Senate, CNBC, Democratic, Act Locations: Texas, Washington ,

☆ Premarket stocks: Wall Street is worried about another regional banking crisis
▼ + stars: | 2024-02-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But while the last crisis was all about interest rate risk, this one revolves around the $20 trillion commercial real estate market. What’s happening: After decades of growth bolstered by low interest rates and easy credit, commercial real estate has hit a wall. The increase was driven partly by expected losses on commercial real estate loans, it said. “As losses from a [commercial real estate] loan portfolio accumulate, they can spill over into the broader financial system,” they wrote. “There’s some smaller and regional banks that have concentrated exposures in these areas that are challenged and we’re working with them,” he said.

Persons: It’s, Goldman Sachs, Anna Cooban, Janet Yellen, Jerome Powell, Gary Gensler, ”, Chip Somodevilla, She’s, Powell, “, ” McDonald’s, McDonald’s, Jordan Valinsky, Samantha Murphy Kelly, “ We’ve Organizations: CNN Business, Bell, New York CNN, New York Community Bancorp, US Regional Bank, Japan’s Aozora Bank, Deutsche Bank, Canadian Public Pension Investment Board, Boston Properties, US Securities and Exchange, Financial, Biden, Senate, CBS, Verizon, Old Telephone Service, landlines, UK, Consumers, CNN, California Public Utilities Commission Locations: New York, Manhattan, Boston, Washington ,, East, United States, California, France, California ”

General Motors' troubled robotaxi service Cruise on Tuesday endured a public lashing from a California judge who compared the company to the devious TV character Eddie Haskell for its behavior following a ghastly collision that wrecked its ambitious expansion plans. After a vehicle driven by a human struck a San Francisco pedestrian in early October, a Cruise robotaxi named “Panini” dragged the person 20 feet (6 meters) while traveling at roughly seven miles per hour (11 kilometers per hour). He also reminded Mason that Cruise could still face other repercussions beyond California, with both the U.S. Justice Department and U.S. Securities and Exchange Commission probing the robotaxi service's conduct. But Mason indicated that he is leaning toward letting the case continue through the entire hearing process rather than approving a settlement. Tuesday's hearing came less than two weeks after Cruise released a lengthy report reviewing how the company mishandled things after the pedestrian was hurt.

Persons: Motors, Cruise, Eddie Haskell, Haskell, ”, Robert Mason III, Panini ”, Panini, specter, Mason, Jerry Mathers, ” Mason, Craig Glidden, Glidden, ” Cruise, ” Glidden, didn't, Quinn Emanuel Urquhart, Sullivan, Cruise’s, Kyle Vogt Organizations: Administrative, California Public Utilities Commission, General Motors, Cruise, U.S . Justice Department, U.S . Securities, Exchange Commission Locations: California, San Francisco

☆ DocuSign to lay off 6% of workforce, or about 440 jobs
▼ + stars: | 2024-02-06 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

The DocuSign website is seen on a laptop in Dobbs Ferry, New York, April 1, 2021. DocuSign announced Tuesday it will cut 6% of its workforce as part of a restructuring plan that aims to improve the company's "financial and operational efficiency," according to a release. DocuSign employs 7,336 workers according to its most recent filing with the U.S. Securities and Exchange Commission, which means the cuts will affect around 440 jobs. DocuSign said the restructuring plan will be largely complete by the end of its second fiscal quarter of 2025, according to the release. In January, shares of DocuSign soared on reports that Bain Capital and Hellman & Friedman were competing to buy the online signature provider.

Persons: DocuSign, Friedman Organizations: U.S . Securities, Exchange Commission, Bain Capital, Hellman, Reuters Locations: Dobbs Ferry , New York

☆ Stablecoin expansion is bringing liquidity to crypto, but JPMorgan warns of challenges ahead
▼ + stars: | 2024-02-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The stablecoin market cap is growing again, which is a good sign for crypto market liquidity, but it hasn't fully recovered and could face regulatory challenges this year, according to JPMorgan. Stablecoins expanded by $60 billion between their May 2022 peak and their October 2023 low of $122 billion. But as investors anticipated the Securities and Exchange Commission's approval of spot bitcoin ETFs in the U.S., the market expanded by $9 billion between October 2023 and January 2024. This is generally a "positive sign" for crypto, according to JPMorgan analyst Nikolaos Panigirtzoglou. Despite bitcoin's stellar 157% gain in 2023 and nearly ideal setup for 2024, the crypto market has been struggling with low liquidity since last year.

Persons: Nikolaos Panigirtzoglou, Panigirtzoglou, Panigirtzaoglou, confidentially, — CNBC's Michael Bloom Organizations: JPMorgan, Securities, Exchange, U.S ., Bank, U.S Locations: U.S, Silicon, SVB, Europe, Crypto, USDC

☆ Jeff Bezos may cash out billions in Amazon stock this year
▼ + stars: | 2024-02-02 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN —Amazon founder Jeff Bezos plans to sell up to 50 million shares of Amazon stock over the next year, according to a regulatory filing posted on Friday. Bezos’ planned stock sale was included in Amazon’s annual report published on Friday due to a Securities and Exchange Commission rule requiring such disclosures. Amazon shares tumbled in 2022 amid a whiplash in pandemic-induced demand for e-commerce and broader macroeconomic uncertainty. Moreover, Bezos’ recent move to Florida from Washington state would mean he could avoid state capital gains taxes on the stock sale. Bezos’ home state of Washington upheld a capital gains tax measure last year, according to the Seattle Times.

Persons: Jeff Bezos, Bezos, fiancé Lauren Sanchez, Andy Jassy Organizations: CNN, Amazon, Securities and Exchange, Origin, Seattle Times Locations: Florida, Washington

☆ Mark Zuckerberg made $29 billion this morning after Meta stock makes record surge
▼ + stars: | 2024-02-02 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

New York CNN —Mark Zuckerberg’s net worth increased by more than $29 billion between your morning coffee and your lunch break. Shares of Meta (META) jumped more than 21% on the news of a quarterly dividend of $0.50 per share to be paid out on March 26 to shareholders of record as of February 22. This upswing plasters over potential harm to Meta stock after Zuckerberg, alongside other social media company heads, testified Wednesday before the Senate Judiciary Committee about the risks their products pose to young people. Zuckerberg was pressed about internal Meta documents that suggested the company estimates the lifetime value of a teen user at $270, as well as Meta’s transparency regarding how its monetizes user data. Zuckerberg apologized to the parents in attendance, who say their children were victims of social media.

Persons: Mark Zuckerberg’s, —, Zuckerberg, they’re, “, ” Organizations: New, New York CNN, Meta, US Securities and Exchange, Committee Locations: New York

☆ Bitcoin could stay rangebound for several weeks more but Solana is poised for a breakout, says Wolfe Research
▼ + stars: | 2024-02-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin investors have high hopes for 2024 given the cryptocurrency's almost too-good-to-be-true setup , but they may have to wait a few weeks more for its next big ascent, according to Wolfe Research. BTC.CM= 1M mountain Bitcoin ended the month of January flat and is poised for more weakness, says Wolfe Research. "A breakout does not look likely in the near term. "Solana and other altcoins have come on strong in recent months and likely continue that outperformance near term." Ginsberg said the tokens tied to Cardano and Avalanche are also set to rise in the near term, and Chainlink could be poised for a breakout.

Persons: bitcoin, Wolfe, it's, Rob Ginsberg, Solana, Ginsberg, We're, they're, — CNBC's Michael Bloom Organizations: Wolfe Research, Solana, Securities and Exchange Commission, Avalanche Locations: U.S, bitcoin

☆ Meet the JPMorgan executive emerging as a dark horse to succeed Jamie Dimon
▼ + stars: | 2024-01-31 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +9 min

Read previewA longtime JPMorgan executive who has kept a low public profile while cultivating a reputation as a successful trader with a talent for managing risk is emerging as a contender to succeed Jamie Dimon as chief executive. His new position through the internal shuffle has vaulted him more publicly and prominently into the most closely watched succession race on Wall Street. JPMorgan executive David Hudson told the publication that he returned to JPMorgan after working at Nomura in 2010 "to work for Troy." Rohrbaugh's other stops at JPMorgan have been head of global markets and head of macro markets. A senior JPMorgan executive who works with Rohrbaugh recalled that time during the pandemic.

Persons: —, Jamie Dimon, Dimon, Troy Rohrbaugh, Jennifer Piepszak, Wall, Marianne Lake, Rohrbaugh, Goldman Sachs, Euromoney, Eddie Wen, David Hudson, He's, Gary Gensler's, Goldman, Cantor Fitzgerald, Tim Soulas, Cantor, Johns Hopkins, you've, he'll, Kaja Whitehouse, Alex Morrell Organizations: Service, JPMorgan, Wall, Business, CIB, North America, Goldman, Nomura, Troy, Federal Reserve Bank of New, Global, Securities, Exchange, Banque Nationale, CooperNeff, Philadelphia Stock Exchange, World Trade Center, New York Daily News, Gilman School, Johns Hopkins University, Alpha Delta Phi, Baltimore Sun, Bloomberg Locations: Dimon, North, JPMorgan's, Canadian, Manhattan, Baltimore, Maryland, New York

☆ Ether takes center stage as bitcoin heads into one of its strongest months
▼ + stars: | 2024-01-31 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Ether is ready to take the limelight in the month ahead after bitcoin and newly-launched bitcoin ETFs dominated crypto investor attention in January. Both bitcoin and ether are on pace to finish the month higher by nearly 2%, according to Coin Metrics. As investors came to expect slow, steady flows into bitcoin through newly institutionalized ETFs in coming months, ether and altcoins have been ready for a breakout. February is a historically strong month for both bitcoin and ether. The SEC is due to give decisions on spot ETH ETF applications beginning in May.

Persons: Darius Tabatabai, Bitcoin, Jeff Dorman, Ethereum, Dorman, Jason Urban, bitcoin, they've, Polygon's, — CNBC's Michael Bloom Organizations: Metrics, ETH, Securities and Exchange Commission, SEC, BlackRock, Standard Chartered, Solana, Arca, Galaxy Locations: U.S, bitcoin, Invesco, Solana

☆ CNBC Daily Open: Fed rate cut timing in focus
▼ + stars: | 2024-01-30 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

A trader reacts as a screen displays the Fed rate announcement on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 13, 2023. 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. [PRO] SK Hynix analysts' top callSouth Korea's SK Hynix, the world's second-largest memory chipmaker, is getting a lot of attention. Analysts are bullish on the stock and expect SK Hynix to drive the next generation of AI growth.

Persons: Dow, Elon Musk's Tesla, Erek Barron Organizations: New York Stock Exchange, CNBC, CSI, Big Tech, Nasdaq, China EV, DOJ, SEC, of Justice, Securities and Exchange Commission, SK Hynix, South Korea's SK Hynix Locations: New York City, U.S, Hong Kong, Asia, China, Maryland

☆ CNBC Daily Open: Fed rate cut path in sharp focus
▼ + stars: | 2024-01-30 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

Traders react as a screen displays the Fed rate announcement on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 13, 2023. REUTERS/Brendan McDermidThis 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. Wall Street ends highU.S. stocks ended on a positive note on Monday. The S&P 500 closed at a new record high as Wall Street looked ahead to Big Tech earnings and the Federal Reserve's rate policy decision.

Persons: Brendan McDermid, Erek Barron, Biden, Joe Biden, Brad Gerstner Organizations: New York Stock Exchange, REUTERS, CNBC, Big Tech, Dow, Nasdaq, DOJ, SEC, of Justice, Securities and Exchange Commission, Republicans, Hamas Locations: New York City, U.S, Maryland, Iran, Jordan, Iraq, Iranian, Israel

☆ DOJ and SEC unveil charges in $1.9 billion cryptocurrency fraud scheme
▼ + stars: | 2024-01-29 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

The Department of Justice on Monday announced criminal charges against two people and the guilty plea of a third person for orchestrating a $1.9 billion cryptocurrency Ponzi fraud scheme known as HyperFund, among other names. Lee, a 35-year-old also known as Xue Lee, is charged with a single count of conspiracy to commit securities fraud and wire fraud. Chunga, who also is known as Bitcoin Beautee, pled guilty Monday to one count of conspiracy to commit securities fraud and wire fraud, for which she faces the same possible maximum sentence. Chunga separately agreed to settle civil charges by the SEC for violating the anti-fraud and registration provisions of U.S. securities laws. The SEC complaint says she received more than $3.7 million from both the HyperFund platform and from investors.

Persons: Nicole Argentieri, Erek Barron, Sam Lee, Rodney Burton, Brenda Chunga, Lee, Xue Lee, Burton, Chunga, Beautee, HyperFund Organizations: U.S . Department of Justice, Washington , D.C, The, Justice, Securities, Exchange Commission, DOJ, U.S, Attorney, United Arab Emirates, SEC Locations: Washington ,, HyperFund, Maryland, Australian, Dubai, United Arab, Miami, Severna Park , Maryland

☆ The WWE knew Vince McMahon was a liability. So why did it bring him back after his scandalous departure?
▼ + stars: | 2024-01-29 | by ( Kyle Feldscher | David Goldman | ) edition.cnn.com time to read: +8 min

CNN —WWE’s parent company knew Vince McMahon — the founder of the wrestling behemoth — was a potential liability. That risk was realized Thursday when a former WWE employee accused McMahon of sexual assault and trafficking in a disturbing and graphic lawsuit. The company said McMahon has since repaid the company about $20 million for misappropriated corporate funds and for the legal fees TKO and WWE paid to investigate McMahon. Vince McMahon, Jr., was more akin to a king than a business executive in the world of WWE, his fingerprints on everything. “I have pledged my complete cooperation to the investigation by the special committee, and I will do everything possible to support the investigation,” McMahon said in a statement at the time.

Persons: Vince McMahon, —, McMahon, ”, Janel Grant, behemoth McMahon, “, Nick Khan, McMahon’s, Donald Trump’s, Donald J, ” McMahon, McMahon, — Vince McMahon, Vince McMahon’s, Stephanie, Jr, reinstalling, Stephanie McMahon —, Khan, What’s, Grant, CNN’s Sam Delouya, Elizabeth Wagmeister Organizations: CNN, WWE, Companies, US Securities and Exchange Commission, SEC, Wall Street, Trump Foundation, UFC, Endeavor, Securities and Exchange Commission

☆ Having too many options can paralyze investors. Here's how you can overcome 'choice overload'
▼ + stars: | 2024-01-29 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Humans get overwhelmed by too many options, a behavioral finance concept known as "choice overload." How investors encounter choice overloadChristopher Ames | E+ | Getty ImagesIt's not just investing: The choice paradox can extend to things like ice cream flavors and apparel, for example. Given these behavioral biases, retailers and others have evolved, making it less likely consumers will experience choice overload "in the wild" today, said Dan Egan, vice president of behavioral finance and investing at Betterment. Do-it-yourselfers may have about one to two dozen investment options, at most, from which to choose, reducing the choice friction. If you don't give people an easy choice, "it's really hard for them," Blanchett said.

Persons: Philip Chao, Brian Scholl, David Blanchett, Samantha Lamas, Christopher Ames, Sheena Iyengar, Mark Lepper, Dan Egan, Egan, that's, Blanchett Organizations: Sdi, U.S . Securities, Exchange Commission, Investor, Morningstar, Finance Locations: John , Maryland

The firm named the stock a top pick for 2024 and reiterated an overweight rating alongside a $105 per share price target. The firm downgraded the health insurance stock to neutral from buy, and lowered its price target to $370 per share from $530. Sur reiterated an underweight rating on Intel stock alongside a $37 per share price target, or more than 25% downside moving forward. Deutsche Bank's Ross Seymour reiterated a hold rating on the stock as well as a $42 per share price target, implying about 15% downside. Analysts Benjamin Black upgraded the Snapchat parent company to buy from hold and raised his price target to $19 from $10.

Persons: Oppenheimer, Wells, Timur Braziler, — Brian Evans, AJ Rice, Brian Evans, Piper Sandler downgrades, Bancorp Piper Sandler, Piper Sandler's, Scott Siefers, Harlan Sur, Sur, America's Vivek Arya, Arya, Deutsche Bank's Ross Seymour, Seymour, Owen Lau, Lau, Coinbase, Analysts Benjamin Black, Black, Fred Imbert Organizations: CNBC, Deutsche Bank, UBS downgrades Humana, UBS, Humana, Piper Sandler downgrades U.S, Bancorp, U.S . Bancorp, Intel, . Bank, America's, GM, Deutsche, U.S . Securities, Exchange Commission, Analysts Locations: Wells Fargo, Puerto Rican, ., Coinbase, Thursday's, China

SAN FRANCISCO (AP) — General Motors is facing a U.S. Justice Department investigation into a gruesome collision that critically injured a pedestrian and derailed its self-driving car ambitions. GM didn't release any details about the nature of the Justice Department's investigation, or of another one by the U.S. Securities and Exchange Commission. The revelations about the latest troubles facing Detroit-based GM and San Francisco-based Cruise came in a report reviewing how things were handled after the pedestrian was hurt. “Cruise must take decisive steps to address these issues in order to restore trust and credibility,” according to the report's summary findings. Cruise had cleared a significant hurdle last August when California regulators approved its request to begin operating its robotaxi service throughout San Francisco at all hours — over the strenuous objections of city officials — only to have it all unravel in early October.

Persons: Cruise, Quinn Emanuel Urquhart, Sullivan, Cruise's, Panini, hadn't, “ Organizations: FRANCISCO, —, Motors, . Justice Department, Department, GM's, U.S . Securities, Exchange Commission, GM, Cruise Locations: San Francisco, Detroit, California

☆ Premarket stocks: Crypto fans got what they wanted. So why is bitcoin falling?
▼ + stars: | 2024-01-25 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

So, why is the price of bitcoin falling, even after investors got what they wanted? Part of the reason is likely a “buy the rumor, sell the news” mentality, according to Antoni Trenchev, co-founder of crypto lender Nexo. Interestingly, bitcoin ETF activity actually shows net buying. Greyscale’s fund is the largest bitcoin ETF, holding roughly $20 billion in assets. ETFs hold just a small portion of the bitcoin that’s traded, says Eric Balchunas, senior ETF analyst at Bloomberg Intelligence.

Persons: cryptocurrencies, bitcoin, Antoni Trenchev, that’s, Eric Balchunas, ”, Bitcoin, FTX, “ We’re, Craig Erlam, vibing, Bryan Mena, Read, It’s, Janet Yellen, Matt Egan, Yellen, Biden Organizations: CNN Business, Bell, New York CNN —, US Securities and Exchange, SEC, Investors, Bloomberg Intelligence, CNN, Economic, of Chicago, Treasury Locations: New York, America, Chicago, Covid

☆ GM’s self-driving car division is under investigation by DOJ and SEC after pedestrian dragging incident
▼ + stars: | 2024-01-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

In meetings with regulators after the October 2 incident, Cruise officials attempted to show a full video of the impact, shot from the car. Cruise commissioned the law firm of Quinn Emanuel Urquhart & Sullivan to investigate the incident and Cruise’s response to it. Immediately after the incident, Cruise employees were not, themselves, aware that the woman had been dragged, according to the report. Actually, the pedestrian was struck by a human-driven Nissan car first and that impact propelled her into the path of the Cruise car. The report attributed its failures in communication to a “myopic focus” in clearing Cruise of fault in the initial impact.

Persons: CNN — Cruise, Cruise, Quinn Emanuel Urquhart, Sullivan, ” Cruise, Mary Barra, veihicle, “ Organizations: CNN, Motors, Department of Justice, Securities and Exchange Commission, Cruise, GM, Nissan Locations: ”, California, United States

☆ The portfolio's 6 best-performing stocks since the December Monthly Meeting
▼ + stars: | 2024-01-24 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Here then are our top stocks since our last meeting, from the Dec. 19 market close through Tuesday's trading session. NVDA YTD mountain Nvidia (NVDA) year-to-date performance Coming in at No. META YTD mountain Meta Platforms year-to-date performance Meta finished third, with shares rising 9.9% as Wall Street analysts anticipate a brighter outlook for the digital advertising market in 2024. LLY YTD mountain Eli Lilly (LLY) year-to-date performance Fourth on our list of top performers is Eli Lilly . GOOGL YTD mountain Alphabet (GOOGL) year-to-date performance Alphabet and Broadcom shares both jumped 7.6% over the last month, tying for No.

Persons: Dow, Bausch, Mark Zuckerberg, We're, Exchange Commission's, Palo, Jim Cramer, Meta, Cowen, there's, Jim, Eli Lilly, LLY, David Ricks, Jim Cramer's, Stocks, Spencer Platt Organizations: Big, Apple, Barclays, Bausch Health, Nvidia, Meta, Palo Alto Networks, Palo, Securities, Exchange, SEC, Microsoft, JPMorgan, Microsoft's, Wall, U.S, Facebook, Jefferies, Broadcom, CNBC, Traders, New York Stock Exchange, Getty Locations: Big Tech, U.S, Palo, New York City

BOSTON (AP) — Hewlett Packard Enterprise disclosed Wednesday that suspected state-backed Russian hackers broke into its cloud-based email system and stole data from cybersecurity and other employees. It said it believed the hackers were from Cozy Bear, a unit of Russia's SVR foreign intelligence service. It said the Russian hackers accessed accounts of senior Microsoft executives as well as cybersecurity and legal employees. Political Cartoons View All 253 ImagesCompany spokesman Adam R. Bauer, reached by email, would not say who informed HPE of the breach. “We're not sharing that information at this time.” Bauer said the compromised email boxes were running Microsoft software.

Persons: Cozy Bear, ”, Adam R, Bauer, HPE, We're, ” Bauer, ” HPE Organizations: BOSTON, Hewlett Packard Enterprise, Securities and Exchange, Microsoft, SharePoint, . Securities, Exchange, Hewlett, Packard Inc Locations: Russian, Redmond, Washington, U.S, Europe, Spring , Texas

☆ CNBC Daily Open: A mixed picture on earnings
▼ + stars: | 2024-01-24 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Traders work on the floor of the New York Stock Exchange (NYSE) on November 15, 2023 in New York City. Asia largely downAsia-Pacific markets mostly fell on Wednesday but Hong Kong's Hang Seng index jumped as much as 2.67%, powered by tech stocks. In her speech after the primary contest was called for Trump, Haley insisted she will stay in the race. It showed retail investors aren't completely sold on the new funds.

Persons: Wall, Haley, Donald Trump, Nikki Haley, bitcoin Organizations: CNBC, New York Stock Exchange, Nasdaq, Dow, Industrial, Netflix, Trump, South Carolina Gov, EV, Tesla, Deutsche Bank, Securities and Exchange Commission Locations: New York City, Asia, Pacific, New Hampshire, U.S, Europe

☆ SEC to vote today on tough new rules for blank-check 'SPAC' companies
▼ + stars: | 2024-01-24 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

"Functionally, the SPAC target IPO is being used as an alternative means to conduct an IPO," Gensler said in a March 2022 statement on the proposed regulations. SPACs: Much more disclosures will be requiredThe new rules will: 1) Expand disclosure requirements regarding SPAC sponsors, SPAC sponsor compensation, conflicts of interest, dilution, and the target company. After a blank-check SPAC goes public, it will usually announce within two years the acquisition of a target company, which is known as a de-SPAC transaction. It would, for example, make the target company legally liable for any statement made about future results by assuming responsibility for disclosures. The SPAC market has already collapsed2020 and 2021 were record years for SPAC IPO filing.

Persons: Gary Gensler, Tom Williams, Gensler, He's, Forbes Organizations: Financial, Securities and Exchange Commission, Cq, Inc, Getty, The Securities, Exchange Commission, SEC, IPOs, Bloomberg, Lordstown Motors Locations: Rayburn, SPACs

☆ Retail investors are worried bitcoin will plunge below $20,000 this year, Deutsche Bank survey says
▼ + stars: | 2024-01-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Crypto skeptics aren't changing their tune just because they can now buy bitcoin exposure through an exchange traded fund, according to a Deutsche Bank survey. Since the launch of the ETFs on Jan. 11, bitcoin has fallen about 20% to roughly $39,000, according to FactSet. So far, institutions have been slow to adopt the new funds in portfolios and retail investors aren't entirely convinced they need to, London-based Deutsche Bank analyst Marion Laboure said in a note Tuesday. Looking at bitcoin specifically, Deutsche said 39% of survey participants think it will stick around in the coming years, while 42% anticipate it will disappear. "The crypto world is gradually moving towards greater institutionalization as traditional financial players (tradFi) enter the market," Laboure said.

Persons: bitcoin, Marion Laboure, Deutsche, Laboure, Michael Bloom Organizations: Deutsche Bank, Securities and Exchange Commission, Binance, SEC Locations: London, U.S, Europe, FTX

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