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☆ How audio startup PodCo is cashing in on Disney and Nickelodeon nostalgia with podcasts hosted by the stars of shows like 'Wizards of Waverly Place'
▼ + stars: | 2023-06-15 | by ( Reed Alexander | ) www.businessinsider.com time to read: +10 min

PodCo produces podcasts themed around Nickelodeon and Disney Channel shows from the past two decades. Since their debut, several PodCo shows have ranked among the top 10 television and film podcasts on platforms like Spotify and Apple Podcasts, according to Chartable. Along with the hosts, other big-name alums have made appearances on PodCo shows, which are also recorded on video and viewable on YouTube. So when he heard Carlson Romano and Rooney's idea, he leapt at the chance to bring the show back in a new form. Some have written to him personally to say the "Ned's" podcast is leaving them feeling less isolated in their own lives, he added.

Persons: Stevens, Christy Carlson Romano, Brendan Rooney, Kim, Ned Bigby, Harper Finkle, PodCo, Rooney, Krystal Eve, Carlson Romano, Ren Stevens, Jenna Fischer, Angela Kinsey, Selena Gomez, Jennifer Stone, David DeLuise, Stone, Lee Citron, Stone —, California —, —, it's, wouldn't, Alyson Stoner, Zack, Cody, Devon Werkheiser, Werkheiser, Scott Simock, PodCo's, Reed Alexander Organizations: Nickelodeon, Disney Channel, Wizards, Marine Corps, Columbia University, American Film Institute, Apple, PodCo, Edison Research, Triton, Intelligence, Disney, Paramount, Netflix, YouTube, Social, Spotify Locations: Waverly, Hollywood, NBC's, California, TikTok, Texas

☆ This regional bank is a 'compelling value’ amid tough time for sector, Piper Sandler says
▼ + stars: | 2023-06-15 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Recent updates from bank executives reinforce the idea that while deposits have stabilized, the industry faces pressure from rising funding costs, weaker lending and coming regulations, according to Piper Sandler analysts. The analysts named two picks for the current environment: "From here, our favorite large regional is Fifth Third Bank , and we find U.S. Bank a compelling value for patient investors," Siefers wrote. Regional bank stocks have r ebounded off the year's lows in recent weeks. The analyst said that customers' move away from non-interest bearing deposits and falling demand for loans have prompted several regional banks to lower their 2023 guidance for net interest income. Fifth Third Bank is "now among the most conservative on through-the-cycle [deposit] assumptions and preparedness for a sustained challenging environment," Siefers wrote.

Persons: Piper Sandler, Scott Siefers, Siefers, Piper Sander, CNBC's Michael Bloom Organizations: Fifth Third Bank, U.S, Bank, Silicon Valley Bank Locations: Silicon

☆ Here’s our Monthly Meeting rapid-fire update on all 35 stocks in the Club’s portfolio
▼ + stars: | 2023-06-14 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. In fact, he named Disney as the best Club stock to gift to a young grandchild. CEO Jim Farley's focus on only making profitable cars and trucks will be put to the test in the current quarter. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer's, Jim, Apple's, there's, Bausch, Estee Lauder, Fabrizio Freda, Berenberg, he's, Jim Farley's, Ford, Locker, Foot Locker's, Mary Dillon's, Patience, we're, Vimal Kapur, Johnson, J, Eli Lilly, Eli Lilly's, Mark Zuckerberg, Morgan Stanley, We're, James Gorman, enabler, aren't, Scott Sheffield, Coterra, PXD, Jim said, Stanley Black, Decker, TJ Maxx, Wells Fargo, Charlie Scharf's, Scharf, Wells, Wynn, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Nvidia, Amazon Web Services, Bausch Health, Caterpillar, Costco Wholesale, Costco, Humana, Coterra Energy, Disney, Emerson, Emerson Electric, National Instruments, Ford, Management, GE Healthcare, Halliburton, HAL, Honeywell, Johnson, Linde, LIN, Meta, underwriters, Cava, Microsoft, Palo Alto Networks, Natural Resources, Procter & Gamble, Constellation Brands, Modelo Especial, U.S, TJX, Marshalls, Home Goods, Wynn Resorts, WYNN, Starbucks, Las, Jim Cramer's Charitable Locations: Asia, China, California, Mounjaro, Palo, Wells, Las Vegas, Macao

☆ US consumer watchdog defends credit card 'junk fee' proposal
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

June 13 (Reuters) - The top U.S. consumer watchdog on Tuesday defended a proposal to limit late fees charged on credit card balances, a move that has faced fierce opposition from the banking industry. In testimony before the Senate, Consumer Financial Protection Bureau Director Rohit Chopra rejected arguments by banks that capping late fees would force them recover the lost revenue by charging higher interest rates or cutting access to credit for some. "They are fully allowed to capture their costs," Chopra said under questioning from Senator Tim Scott, the top Republican on the Senate Banking Committee, who recently announced his 2024 presidential bid. "One of the things that our issuers tell us is that they don't want to profit off of late fees. The CFPB in February rolled out a regulatory proposal that would cap late fees at $8, far lower than the current $30-$41, unless credit card issuers could justify charging more, part of the Biden administration's attack on what it calls consumer "junk fees."

Persons: Rohit Chopra, Chopra, Tim Scott, Biden, Scott, Douglas Gillison, Deepa Babington Organizations: Senate, Consumer Financial, Republican, Senate Banking Committee, Thomson

☆ The fertility business is booming as startups go after big profits in a $54 billion market, even as other healthcare companies slump
▼ + stars: | 2023-06-12 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +8 min

Fertility companies are thriving as the rest of the healthcare industry stumbles. Many healthcare companies have seen their growth stunted by the market downturn, but fertility startups are defying the odds. Alessia Pierdomenico/Reuters Big returnsProgyny's success this year is boosting investor sentiment for private fertility companies, F-Prime Capital partner Carl Byers said. And some fertility companies are trying to stand out further by saying they can lower costs for employers. Experts predicted the fertility industry will see further consolidation this year, including more clinic acquisitions by private equity and by some fertility startups.

Persons: Kindbody, Scott Schoenhaus, Sarah James, Cantor Fitzgerald, PitchBook, Progyny, James, Alessia Pierdomenico, Carl Byers, Byers, Asima Ahmad, Carrot, Cantor Fitzgerald's James, Gina Bartasi, Peter Anevski, he's, Anevski, Rebecca Torrence Organizations: Morning, The Business Research Company, Investors, Reuters, Prime, Clinics, Maven, for Disease Control, Fertility

☆ US companies face less pressure for climate and social reforms
▼ + stars: | 2023-06-09 | by ( Ross Kerber | ) www.reuters.com time to read: +3 min

REUTERS/Jeenah MoonJune 9 (Reuters) - Shareholder support for proxy resolutions on topics including climate change and workforce diversity dropped significantly this spring, analysts said, as tough proposals from activists met with growing political pressure on fund firms' voting. Support for resolutions on social issues fell to 20% this year so far, from 26% in 2022 and 33% in 2021, Georgeson said. He declined to discuss specific companies, but his description fit results like at major U.S. banks that defeated calls to wind down financing for major fossil fuel projects. "These dynamics have led to an overall decline in investor support for environment and social shareholder proposals," Colton said. Both have previously said they vote on a case-by-case basis and noted an increasing number of proposals affect support rates.

Persons: Russell, Georgeson, Kilian Moote, ESG, Sow, Andrew Behar, Ford, Behar, Benjamin Colton, Colton, Scott Shepard, Ross Kerber, Sabrina Valle, Lincoln Organizations: New, REUTERS, Ford, eBay, Exxon, Street Global Advisors, BlackRock, Vanguard, Center for Public Policy Research, IBM, National Center, Thomson Locations: New York City, Manhattan, Weehawken , New Jersey, U.S, China, Houston

☆ Wall Street is placing its bets for a big Fed meeting and inflation reports
▼ + stars: | 2023-06-09 | by ( Scott Schnipper | ) www.cnbc.com time to read: +6 min

The betting is also that the latest inflation reading for May that will be reported Tuesday, just as the two-day Fed meeting gets underway, will show additional progress in the fight against higher prices. Those views have helped power a broader stock market rally on Wall Street this month. In fact, the combination of the narrow stock market rally in 2023, until this month at least, plus the low VIX reading, leads Demmert to expect a 10% stock market correction at some point. "The stock market at large is in overbought territory and investors are very complacent, which was the case prior to the past three major declines within this 18-month bear market. Between the June and September meetings, the Fed would get three more inflation and three more payrolls reports.

Persons: Russell, Scott Ladner, Ladner, James Demmert, that's, Demmert, Jerome Powell's, Paul Ashworth, Ashworth, Jerome Powell, John Wiley, CNBC's Hakyung Kim, Michael Bloom, Jeff Cox Organizations: Fed, CME Group, CPI, Horizon Investments, Street Research, Investors, North, Capital Economics, Capital, UBS, Federal, Philadelphia Fed, Adobe, University of Michigan Locations: Charlotte , North Carolina, SPX, downtrends, North America

☆ Republican primary candidates tap-dance around second Trump indictment charges
▼ + stars: | 2023-06-09 | by ( Gregory Krieg | ) edition.cnn.com time to read: +9 min

For his rivals, though, the campaign has been frozen in place, with Trump again seizing the spotlight and relegating them to supporting roles. So when word of the indictment broke, DeSantis sprinted to Trump’s corner – along with the loyalists he is ultimately hoping will break for him. Look, look at this.”Among the 2024 field, DeSantis and longshot primary candidate Vivek Ramaswamy emerged overnight as Trump’s most ardent defenders. Ahead of a new ad launch, its first of the 2024 primary, a senior adviser to the group said the new indictment furthered Christie’s political case against Trump. “While Donald Trump is entitled to the presumption of innocence, the ongoing criminal proceedings will be a major distraction,” Hutchinson said.

Persons: Donald Trump –, –, Trump, Ron DeSantis, Justice “ weaponized ”, Joe Biden, Donald, DeSantis, ” DeSantis, Clinton, Hunter, Biden, Trump’s, Attorney Alvin Bragg, ” Trump, Vivek Ramaswamy, Ramaswamy, ”, Mike Pence, Hugh Hewitt, “ We’re, ” Pence, “, Pence, General Merrick Garland, Nikki Haley, ” Haley, Haley, South Carolina Sen, Tim Scott, demurred, ” Scott, Chris Christie, ” Christie, Colin Reed, Asa Hutchinson, Donald Trump, ” Hutchinson Organizations: CNN, Trump, Florida Gov, Department, Justice, Republican, Republican Party, Manhattan, Attorney, Justice Department, FBI, United Nations, South Carolina Gov, Fox, Department of Justice, Former New Jersey Gov, “, GOP, Arkansas Gov Locations: Florida, Iowa’s, New York City, “, South Florida, Iran, ”, South Carolina, Arkansas

☆ Father’s Day Gifts 2023: What Dads Like Nate Berkus, David Chang and Kelly Slater Are Giving and Receiving
▼ + stars: | 2023-06-07 | by ( Christopher Ross | ) www.wsj.com time to read: 1 min

Photo: clockwise from top left: Scott Sector Fly Rod, FILSON, BIOLOGIQUE RECHERCHE, NOKIA, FLINT & PORT HAT COMPANY, Todd Demsey GolfBetween dad jokes, dadbods and chunky (and newly fashionable) dad jeans and pants, fathers are subjected to mild, mostly loving ridicule for the large part of the year. Which makes Father’s Day the exception: an interregnum from the usual give-and-take when we let dads and paternal figures know what they really mean to us and how much we appreciate those weekend breakfasts and early-morning rides to the airport. Instead of buying another tie that’s liable to get even less wear in these dressed-down, post-pandemic days, take note of what the high-profile men below are hoping to receive—and their best ideas for what to give.

Persons: FILSON, Todd Demsey Organizations: Scott, NOKIA, FLINT, HAT COMPANY Locations: BIOLOGIQUE RECHERCHE

☆ Factbox: Who are the Republican candidates running for president?
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +6 min

June 22 (Reuters) - At least 10 Republican candidates have announced that they will try to win their party's nomination to take on Democratic President Joe Biden in the November 2024 election. DONALD TRUMPTrump, 77, announced his election campaign last November as he faced criticism from within his Republican Party over his support for far-right candidates who were defeated in the midterm elections. Like Biden, the former president remains unpopular with swaths of the electorate. DOUG BURGUMDoug Burgum, who is serving his second four-year term as North Dakota's governor, launched his campaign earlier this month. FRANCIS SUAREZMiami Mayor Francis Suarez, 45, is the only Hispanic candidate in the Republican field and the third candidate from Florida along with Trump and DeSantis.

Persons: Joe Biden, DONALD TRUMP Trump, Biden, Trump, RON DESANTIS, DeSantis, MIKE, Pence, Trump's, NIKKI HALEY, Haley, TIM SCOTT, Scott, VIVEK RAMASWAMY, Ramaswamy, CHRIS CHRISTIE, Chris Christie, ASA HUTCHINSON, Hutchinson, DOUG BURGUM Doug Burgum, FRANCIS SUAREZ, FRANCIS SUAREZ Miami Mayor Francis Suarez, Suarez, Katharine Jackson, Ross Colvin, Andy Sullivan, Colleen Jenkins, Nick Zieminski, Alistair Bell, Jonathan Oatis Organizations: Republican, Democratic, Republican Party, New, Twitter, Trump, Walt Disney Co, Ukraine, U.S . Capitol, Constitution, Republican White House, Christian, United Nations, Biden, TIM, Black Republican U.S, Reuters, New Jersey, ASA, White House, Microsoft, FRANCIS SUAREZ Miami Mayor, Cuban, Thomson Locations: New York, Florida, U.S, South Carolina, Arkansas, Southern, South Florida

☆ Poll: GOP Sen. Tim Scott utterly botched his presidential campaign rollout
▼ + stars: | 2023-06-04 | by ( Walt Hickey | ) www.businessinsider.com time to read: +3 min

GOP Sen. Tim Scott of South Carolina declared he's running for president. Morning Consult polling found that more Republicans heard nothing about the launch than heard positive things about it. In the week following the announcement, just 38% of GOP primary voters heard something positive about the candidate. By comparison, Morning Consult found that 47% of GOP primary voters heard something positive about former U.N. Ambassador Nikki Haley after her launch, while 51% of voters heard something positive about former President Donald Trump and Florida Gov.

Persons: Sen, Tim Scott of, —, Carolina Sen, Tim Scott, Scott, Nikki Haley, Donald Trump, Ron DeSantis, he's Organizations: Service, GOP, Florida Gov, Republican National Locations: Tim Scott of South Carolina, Carolina

☆ Next questions for markets center on its skinny rally and the chance of a Fed derailment
▼ + stars: | 2023-06-02 | by ( Scott Schnipper | ) www.cnbc.com time to read: +5 min

"The underlying numbers in the report today show that the Fed can probably feel comfortable with maybe one more rate hike, and then pausing." Or, at least those concerns were true until Friday's explosive rally, when more than six New York Stock Exchange issues rose for every one that fell, and all 11 sectors in the S & P 500 gained. Friday's advance carried the S & P 500 to its highest since Aug. 18, 2022, when the benchmark closed at 4,283.74. Another favorable straw in the wind may simply be the fact that the 11.2% rally in the S & P 500, just since the mid-March lows accompanying the failure of Silicon Valley Bank, is so hated and mistrusted. Week-ahead calendar Monday 9:45 a.m.: S & P Global Services PMI (May) 10 a.m.: Durable goods and factory orders (April) 10 a.m.: ISM services PMI (May) Tuesday Earnings: J.M.

Persons: Megan Horneman, Canaccord Genuity, JC O'Hara, Roth MKM, Ross Mayfield, Baird, Savita Subramanian, Subramanian, Brown, Forman, — CNBC's Alexander Harring, Fred Imbert, Michael Bloom Organizations: Federal Reserve, Verdence Capital Advisors, Nvidia, New York Stock Exchange, Silicon Valley Bank, Bank of America, P Global Services PMI, PMI, Growers, Ciena, GameStop Locations: Broad, 2H23, Silicon

☆ Meet Netflix's elite 'Lstaff' — the 25 top execs who help make the company's biggest decisions, from its push into advertising to its gaming expansion
▼ + stars: | 2023-06-02 | by ( Lucia Moses | Ashley Rodriguez | ) www.businessinsider.com time to read: +2 min

Netflix has a top team of business leaders who debate and drive the company's biggest decisions. This "Lstaff" includes co-CEOs Greg Peters and Ted Sarandos plus execs leading new areas like gaming and ads. When Netflix is faced with a big, agenda-setting decision, it convenes a special team of business heads to debate the issue at hand. This group, which numbers 25, has helped shape major company moves like its expansion into mobile games and advertising. Scroll down to read about the people on Netflix's Lstaff, listed in alphabetical order, and the perspective each brings.

Persons: Greg Peters, Ted Sarandos, —, Reed Hastings, Bela Bajaria, Scott Stuber, Kim —, Vernā Myers, Jeremi Gorman, Mike Verdu, Spencer Wang Organizations: Netflix, New Zealand Locations: Korea, Japan, Southeast Asia, Australia, New

☆ Talk of Racism Proves Thorny for G.O.P. Candidates of Color
▼ + stars: | 2023-06-01 | by ( Jonathan Weisman | Trip Gabriel | ) www.nytimes.com time to read: +1 min

Senator Tim Scott of South Carolina opened his presidential candidacy with a story of the nation’s bitter, racist past. It is one that he tells often, of a grandfather forced from school in the third grade to pick cotton in the Jim Crow South. A rival for the Republican nomination, Nikki Haley, speaks of the loneliness and isolation of growing up in small-town South Carolina as the child of immigrants and part of the only Indian family around. But in bolstering their own bootstrap biographies with stories of discrimination, they have put forth views about race that at times appear at odds with their view of the country — often denying the existence of a system of racism in America while describing situations that sound just like it. “I’m living proof that America is the land of opportunity and not a land of oppression,” Mr. Scott says in a new campaign advertisement running in Iowa, though he has spoken of his grandfather’s forced illiteracy and his own experiences being pulled over by the police seven times in one year “for driving a new car.”

Persons: Tim Scott of, Jim Crow, Nikki Haley, Larry Elder, he’d, ’, Mr, Scott Organizations: Tim Scott of South Carolina, Republican Locations: Tim Scott of South, South Carolina, Pullman, America, Iowa

☆ Texas Governor Names Interim Attorney General After Paxton Impeachment
▼ + stars: | 2023-05-31 | by ( David Montgomery | ) www.nytimes.com time to read: +3 min

Why It MattersIn announcing his choice, Mr. Abbott cited Mr. Scott’s past experience as a former deputy attorney general who “knows how the Office of Attorney General operates.”Mr. Scott served as Mr. Abbott’s top deputy for civil litigation when the Republican governor served as attorney general before becoming the state’s chief executive in 2015. Mr. Scott also served on an interim basis as Texas secretary of state, the chief elections officer appointed by the governor, for just over a year before stepping down in December 2022. During the political turbulence following Joe Biden’s 2020 presidential election victory over Donald Trump, Mr. Scott briefly represented the former president in an unsuccessful lawsuit against the certification of Pennsylvania’s vote after other attorneys quit. Senator Ted Cruz of Texas, and the litigation chief Chris Hilton, who has made news recently by denouncing lawmakers’ moves toward impeachment. “That was true regardless of who the secretary was, including John Scott,” Mr. Taylor said.

Persons: Abbott, “, Mr, Scott, Abbott’s, ” Mr, Joe Biden’s, Donald Trump, Paxton, Judd Stone, Antonin Scalia, Ted Cruz, Chris Hilton, Sam Taylor, John Scott, Taylor, Gov, Dan Patrick Organizations: Republican, Human Services, Daily, The Texas Tribune, U.S, Supreme, The Texas Senate, Senate Locations: Texas, Ted Cruz of Texas

☆ Factbox: Who are the candidates running in the 2024 US presidential election
▼ + stars: | 2023-05-31 | by ( Ross Colvin | ) www.reuters.com time to read: +6 min

Here is a list of 2024 hopefuls in both the Democratic and Republican parties. Only 1% of Republicans said he would be their preferred 2024 nominee in a Reuters/Ipsos poll conducted May 9-15. ASA HUTCHINSONThe former Arkansas governor launched his bid for the White House in April with a call for Trump to step aside to deal with his indictment. Biden allies say he is running because he feels he is the only Democratic candidate who can defeat Trump. MARIANNE WILLIAMSONThe best-selling author and self-help guru has launched her second, longshot bid for the White House.

Persons: Mike Pence, Chris Christie, Donald Trump, Joe Biden, DONALD TRUMP Trump, Biden, Trump, RON DESANTIS, DeSantis, TIM SCOTT, Scott, NIKKI HALEY, Haley, VIVEK RAMASWAMY, Ramaswamy, MIKE, Pence, Trump's, CHRIS CHRISTIE, ASA HUTCHINSON, Hutchinson, DOUG BURGUM Burgum, JOE BIDEN Biden, MARIANNE WILLIAMSON, ROBERT KENNEDY JR, Kennedy, Robert F, Ross Colvin, Colleen Jenkins, Nick Zieminski, Alistair Bell Organizations: New, Democratic, Republican, REPUBLICAN, Republican Party, Twitter, Trump, Walt Disney Co, Ukraine, TIM, Black Republican U.S, Reuters, United Nations, Biden, U.S . Capitol, Republican White House, Christian, New Jersey, ASA, White House, Microsoft Corp, DEMOCRATIC, White, Democrat, YouTube, Thomson Locations: New Jersey, New York, Florida, South Carolina, Pence, Iowa, Arkansas, U.S

☆ Sen. Tim Scott pushes bill that would require disclosure of apps' country of origin
▼ + stars: | 2023-05-30 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — Sen. Tim Scott, R-S.C., is pushing for more transparency from social media applications amid privacy concerns about China-based apps like TikTok. App stores would be charged to warn users of the risks of downloading foreign applications and provide a filtering method by country of origin. Four out of 5 of the top most popular apps in March are of Chinese origin, according to The Wall Street Journal. "Requiring app stores to display an app's country of origin is a commonsense solution that can help them do just that." "The Know Your App Act would bring much-needed transparency to app stores, empowering Americans to safeguard their families from exploitation," he added.

☆ Rosalind Franklin’s Role in DNA Discovery, Once Ignored, Is Told Anew in Song
▼ + stars: | 2023-05-29 | by ( Lauren Rosenfield | ) www.nytimes.com time to read: +1 min

During the summer of 2020, the composer and lyricist Madeline Myers spent hours at the piano in her Manhattan apartment as she struggled to write three songs for her new musical, “Double Helix,” about the British chemist Rosalind Franklin. The challenge wasn’t strictly about marrying words to a score, but conveying the science of a crucial moment in the discovery of DNA’s structure — and making the songs entertaining. Franklin’s experiments, in which she successfully used X-ray crystallography to create images of DNA, became the basis for James Watson and Francis Crick’s groundbreaking 1953 discovery of the double helix structure. The breakthrough underpins our modern understanding of genetics and biology, but for years Franklin received none of the credit. (She died of cancer in 1958 at the age of 37; her male colleagues were later awarded the Nobel Prize.)

May 28 (Reuters) - Good news of a tentative deal for the U.S. debt ceiling impasse may quickly turn out to be bad news for financial markets. "That's where the debt ceiling matters." In that case, "the impact on broader financial markets would likely be relatively muted," Daniel Krieter, director of fixed income strategy, BMO Capital Markets, said in a report. Some bankers said they fear financial markets may not have accounted for the risk of a liquidity drain from banks' reserves. Bankers put it to hope that the debt ceiling impasse would be resolved without significant dislocation to markets, but warn that's a risky strategy.

☆ Next week promises any debt deal relief may prove short-lived with jobs report, Fed decision looming
▼ + stars: | 2023-05-26 | by ( Scott Schnipper | ) www.cnbc.com time to read: +5 min

"The overhangs on the market this year [are] the debt ceiling negotiation, hawkish Fed commentary and a banking crisis. It appears we are going to get a debt ceiling deal over the weekend, which should help the market to stabilize." The problem for many on the Street is the action in the S & P 500 Tech Index, up more than 5% this week; the Nasdaq Composite , ahead about 2.5%; and the S & P 500 , with a 0.3% gain, masks so much weakness beneath the surface. The S & P 500 consumer staples, materials, health care and utilities were all down between 2.4% and 3.2% this week, and the Dow Industrials were lower 1%. Although the S & P 500 is 9.5% higher so far in 2023, only a few stocks are doing well. "

Before Abdel R. Salaam traveled to Ghana last fall, he didn’t have deep knowledge of its music and dance traditions. It’s a memory that stuck with Salaam, now the festival’s artistic director who this week brings Ghana back to the DanceAfrica stage. After immersing himself in the country’s culture — and holding auditions for 21 companies in different regions — he landed on a title: “Golden Ghana: Adinkra, Ananse and Abusua.”Before its independence, in 1957, Ghana was known as the Gold Coast. He likens “Golden Ghana” to the idea of “living my life like it’s golden,” as Jill Scott sings. “You want to reach for not just material gold, but the highest level of light,” Salaam said.

☆ 2024 US presidential election: who is in, who is out and who is still thinking about it
▼ + stars: | 2023-05-24 | by ( Ross Colvin | ) www.reuters.com time to read: +7 min

May 24 (Reuters) - Florida Governor Ron DeSantis announced on Wednesday he is seeking the 2024 Republican presidential nomination, joining former President Donald Trump in a growing list of Republicans seeking to unseat Democratic President Joe Biden. Here is a list of declared candidates and other potential 2024 hopefuls in both the Democratic and Republican parties. The former Kansas congressman was one of Trump's most loyal lieutenants and initially backed his false claims of a stolen presidential election in 2020. Several of his key staff, though, have recently joined the DeSantis camp, suggesting that Youngkin is not going to run in 2024. She ran as a Democrat in the 2020 presidential primary but dropped out of the race before any votes had been cast.

Persons: Ron DeSantis, Donald Trump, Joe Biden, JOE BIDEN Biden, DONALD TRUMP Trump, Biden, Trump, RON DESANTIS, DeSantis, SCOTT, Scott, NIKKI HALEY, Haley, ASA HUTCHINSON, Hutchinson, MIKE, Pence, Trump's, CHRIS CHRISTIE, Christie, CHRIS SUNUNU The, VIVEK RAMASWAMY, Ramaswamy, ROBERT KENNEDY JR, Kennedy, Robert F, MIKE POMPEO Trump's, GLENN YOUNGKIN, MARIANNE WILLIAMSON, Ross Colvin, Colleen Jenkins, Nick Zieminski, Mark Potter Organizations: Democratic, Republican, Biden, Trump, Republican Party, New, Walt Disney Co, Black Republican U.S, Reuters, United Nations, ASA, White House, U.S . Capitol, Republican White House, YouTube, Central Intelligence Agency, White, Democrat, Thomson Locations: Florida, U.S, New York, Ukraine, South Carolina, Arkansas, Pence, New Jersey, CHRIS SUNUNU The New Hampshire, England, Kansas, Virginia

☆ Oracle's Larry Ellison gears up to spend millions to back Tim Scott's 2024 run
▼ + stars: | 2023-05-22 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

Oracle co-founder and Republican megadonor Larry Ellison is preparing to spend millions of dollars backing Sen. Tim Scott's run for president. The Opportunity Matters Fund PAC has been rebranded for Scott's White House run with a new name: Trust In The Mission PAC, or TIM PAC. Another veteran Republican fundraiser told CNBC that Ellison is already planning to donate up to $10 million to the TIM PAC in the early going of Scott's run. Ellison has signaled to allies that he could give at least between $20 million and $30 million more this cycle, this person said. Ellison admires Scott a great deal for the senator's strong support for Israel, according to a lobbyist who's worked with Oracle and has known Ellison for years.

CNN —South Carolina Sen. Tim Scott on Monday will formally enter the Republican presidential primary as he seeks to upend a contest that has so far been dominated by coverage of former President Donald Trump and Florida Gov. The most prominent Black figure in the Republican Party, Scott will address supporters at his alma mater, Charleston Southern University, in his hometown of North Charleston. In 2010, he became the first Black Republican elected to the US House of Representatives from South Carolina in more than a century. Years later, after being appointed to his Senate seat (he won a special election to retain the seat), Scott made history as the first Black US Senator from his native South Carolina. “We know how dangerous Tea Party extremist Tim Scott is,” South Carolina Democratic Party chair Christale Spain said in a statement.

☆ Tim Scott's biggest financial backer is Larry Ellison, a tech billionaire who owns the sixth-largest island in Hawaii and has poured $35 million into the senator's super PAC
▼ + stars: | 2023-05-22 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

Ellison has pumped $35 million into Scott's super PAC, and could legally give him millions more. On Monday, Ellison attended Scott's campaign launch in North Charleston, where Scott described him as one of his mentors. Trump's political operation includes the "MAGA, Inc" super PAC, while Florida Gov. Ron DeSantis has enjoyed the support of the "Never Back Down" super PAC. Scott's campaign isn't the first time a Republican presidential candidate has heavily relied on a single megadonor.

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