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Organizations: Business

☆ Indian public sector firm NTPC's green energy arm files for $1.2 billion IPO
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: +1 min

This photograph taken on April 6, 2022, shows a general view of the National Thermal Power Corporation (NTPC) plant in Dadri. The mounds of jet-black coal shimmering under the afternoon sun at the Dadri power plant are a raw illustration of India's coal dependence -- a habit that despite increasing pressure, the country is finding hard to kick. India's NTPC Green Energy filed draft papers for a 100 billion rupees ($1.19 billion) initial public offering on Wednesday, as it looks to cash in on the country's renewables expansion plans and a red-hot equities market. The company, a unit of state-owned power producer NTPC , will only issue new shares, and existing shareholders will not sell any stake, the draft papers showed. So far this year, about 235 companies have gone public and raised more than $8.6 billion, which exceeds the total amount raised last year.

Persons: NTPC Organizations: National Thermal Power Corporation, Green Energy Locations: Dadri, India

☆ German media empire Axel Springer to split in deal with KKR
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: +3 min

Passers-by walk in front of the main entrance to the Axel Springer high-rise. The two sides had reached a deal in the summer to split Axel Springer, a source told Reuters on Saturday. KKR and its partner CPP Investments currently hold a 35.6% and 12.9% stake in Axel Springer, respectively, while Doepfner and Friede Springer hold 21.9% and 22.5%. Axel Springer had been preparing to float Stepstone but the planned initial public offering was shelved when war broke out in Ukraine in 2022. KKR and CPP Investments are now likely to target an IPO in the second half of 2025, according to an industry source.

Persons: Axel Springer, Mathias Doepfner, Axel Springer's, Springer, Friede Springer, Axel's, Doepfner, Friede Organizations: Politico, KKR, Reuters, Investments, Friede Springer, Springer Locations: Hamburg, North America, Aviv, Ukraine

☆ Netflix co-CEO shares his 1-word productivity strategy: It's 'a powerful tool for focus,' says expert
▼ + stars: | 2024-09-19 | by ( Gili Malinsky | ) www.cnbc.com time to read: +1 min

Netflix has done a lot of things it's said it wouldn't, from becoming an ad-supported streaming platform to including live sports in its programming. When asked why the company has repeatedly gone back on its word at the Fast Company Innovation Festival 2024 on Wednesday, Netflix co-CEO Ted Sarandos explained that, at the time, those declarations probably felt accurate. "'Never' is a focusing word," said Sarandos, who's held his co-CEO role since 2020. This month, Netflix — which has a market capitalization of $303.04 billion, as of Thursday afternoon — announced that it'll begin live streaming NFL games on Christmas Day. For Sarandos, declaring that the company would "never" go down certain paths was, at least partially, about productivity.

Persons: it's, Ted Sarandos, who's, Sarandos, —, it'll, Reed Hastings Organizations: Netflix, Fast

☆ Fed set the stage for extremely good equity action in 2025: Hugh Johnson Economics' chief economist
▼ + stars: | 2024-09-19 | 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 EmailFed set the stage for extremely good equity action in 2025: Hugh Johnson Economics' chief economistHugh Johnson, Hugh Johnson Economics chief economist, and Kevin Caron, Washington Crossing Advisors senior portfolio manager, join 'Power Lunch' to discuss the market's current momentum, their thoughts about the current economy, and more.

Persons: Hugh Johnson, Kevin Caron Organizations: Hugh Johnson Economics, Washington Crossing Advisors

☆ The Fed's interest-rate cut put Trump even more at odds with the central bank
▼ + stars: | 2024-09-19 | by ( Ayelet Sheffey | Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

On Wednesday, the Federal Open Market Committee announced an interest-rate cut of 50 basis points, the first cut Americans have received in over four years. AdvertisementHe's argued in the past that the Fed would only cut rates close to the election to aid Democrats, which he reiterated leading up to the central bank's announcement. Trump sought to use his presidential power to appoint members to the Fed board who supported his unorthodox views of the central bank. Trump has flip-flopped his views on his most important appointment to the Fed: Powell. Trump's tepid support of Powell underlines just how mercurial he can be when it comes to the central bank.

Persons: —, Donald Trump isn't, Jerome Powell, Trump, they're, He's, Powell, Judy Shelton, Shelton, Sen, Susan Collins, Herman Cain, Stephen Moore, Michelle Bowman, Christopher Waller, he's, reappoint Powell, Trump hasn't Organizations: Service, Federal, Market Committee, Democratic, Business, Federal Reserve, Street, Trump, Bloomberg, Fox, Fed, Governors, Maine Republican, Fed Board, Bloomberg News Locations: New York, Michigan, Maine

☆ Marketing is the 'biggest use case' for AI tools, says HubSpot CEO Yamini Rangan
▼ + stars: | 2024-09-19 | 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 EmailMarketing is the 'biggest use case' for AI tools, says HubSpot CEO Yamini RanganYamini Rangan, HubSpot CEO, joins 'Closing Bell Overtime' to talk AI integration, competition in the space and more.

Persons: Yamini Rangan

☆ See the first video showing the US Air Force's B-21 Raider in flight
▼ + stars: | 2024-09-19 | by ( Chris Panella | ) www.businessinsider.com time to read: +1 min

The US Air Force released a video showing the B-21 Raider stealth bomber taking off and landing. The force's newest bomber took its first flight last fall and is in production. AdvertisementThe US Air Force released the first footage of its new stealth bomber taking off and landing during flight testing. The testing marks a monumental moment for the B-21 Raider, which is shaping up to replace the branch's older bombers and become "the backbone" of its "flexible global strike capability," the Air Force said. The video was released Wednesday alongside the B-21 Update panel at the 2024 Air, Space and Cyber Conference by the Air and Space Forces Association.

Persons: — Organizations: US Air Force, Raider, Pentagon, Service, Air Force, Conference, Air and Space Forces Association, Business

☆ Thursday, September 19, 2024: Cramer says he's considering swapping this Big Bank for another
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: 1 min

Thursday, September 19, 2024: Cramer says he's considering swapping this Big Bank for anotherGo behind the scenes with Jim Cramer and Jeff Marks of the CNBC Investing Club as they talk candidly about the market's biggest headlines, analyst calls and holdings in the Charitable Trust—and see up close how they decide when, and if, to take action on stocks.

Persons: Cramer, Jim Cramer, Jeff Marks Organizations: Bank, CNBC, Trust

☆ 9 cities where lower mortgage rates are actually pushing home prices more than 10% higher
▼ + stars: | 2024-09-19 | by ( Christine Ji | ) www.businessinsider.com time to read: +3 min

Read previewHomebuyers may have breathed a premature sigh of relief last month when mortgage rates dropped. In the last six weeks, mortgage rates have fallen over half a percentage point to 6.2%, according to Freddie Mac. AdvertisementAccording to Redfin Senior Economist Sheharyar Bokhari, prices are increasing because the drop in mortgage rates has spurred demand for houses while supply remains low. Year-over-year, prices rose in almost every one of the top 50 metro areas. Below are the 9 cities where home prices have risen the most in the last year, increasing at double-digit rates.

Persons: —, Freddie Mac, it's, Sheharyar, Bokhari, Skylar Olsen, homebuyers, Olsen, Austin — Organizations: Service, Fed, Business, Redfin Locations: San Antonio

☆ Your taxes are going up in 2026, according to Morgan Stanley. Here are 5 tax-advantaged trades to make.
▼ + stars: | 2024-09-19 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Read previewMorgan Stanley has some disappointing news for investors: your taxes are probably going up in the next few years. But one strategist at Morgan Stanley says it's not that simple. Despite these differences, Morgan Stanley expects tax rates to increase no matter who takes office. And a divided Congress, which Morgan Stanley predicts is very likely in November, will only further reduce the likelihood of dramatic change. Typically, the stock market is more influenced by the business cycle than tax policy or political party, according to Morgan Stanley.

Persons: —, Morgan Stanley, Trump, Kamala Harris, it's, Monica Guerra, Morgan Stanley Wealth Management's, Harris, Biden, There's, haven't, Guerra isn't, Guerra Organizations: Service, Business, Morgan Stanley Wealth, US, Trump, Republican, Democratic, Treasurys, New, Equity Locations: New York City

☆ 'Data quality' issues exist for emerging-market credit, says fixed-income fund manager
▼ + stars: | 2024-09-19 | 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 Email'Data quality' issues exist for emerging-market credit, says fixed-income fund managerPaul Benson of Insight Investment, BNY Investments says high-yield debt is an attractive proposition, calling it a "beautifully inefficient market", but is cautious about emerging-market high-yield credit as a fixed-income investment.

Persons: Paul Benson Organizations: Insight Investment, BNY Investments

☆ JPMorgan's junior bankers just gained an ally in their fight against overwork. Here's what we know about the longtime exec tapped to advocate for them.
▼ + stars: | 2024-09-19 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +10 min

Read previewLast week, JPMorgan Chase announced that it would be seeking to limit junior bankers' work hours to 80 per week to tackle concerns over unhealthy working conditions. "So a lot of investment bankers — they've been traveling all week. Jamie Dimon on Tuesday addressed Ryland McClendon's new job ScreenshotThe investment banker's daughterMcClendon grew up near Atlanta, Georgia with her parents and three siblings. AdvertisementIn a 2023 episode of JPMorgan's "Women on the Move" podcast, McClendon said her career path has been heavily influenced by her parents. AdvertisementIn the 2023 podcast, McClendon said she likes to use storytelling as a tool to educate because it can be more effective than numbers alone.

Persons: —, Ryland McClendon, Leo Lukenas, Lukenas, McClendon, Michael Nagle, Jamie Dimon, Dimon, aren't, — they've, It's, Ryland McClendon's, Raymond J, Pryor, Ryland, Marion Barry, SunTrust Robinson Humphrey, we've, what's Organizations: Service, JPMorgan Chase, CNBC, JPMorgan, Business, of America, Getty, Bank of America, Georgetown University, Hartsfield, Jackson Atlanta International Airport, Washington D.C, Duke, econ, Wall Locations: Atlanta , Georgia, Atlanta, Washington, Florida

☆ Husband of Russia’s richest woman arrested on murder charge after office shootout
▼ + stars: | 2024-09-19 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Moscow — Vladislav Bakalchuk, the estranged husband of Russia’s richest woman, was arrested and charged with murder Thursday, his lawyers said, after a deadly shootout at the Moscow office of Russia’s largest online retailer. Two people were killed in a shooting Wednesday just a few blocks away from the Kremlin at the Wildberries office, as a dispute over the company’s future took a violent turn. Tatyana founded Wildberries, Russia’s answer to Amazon, in 2004, growing it from an online clothes reseller into a major marketplace for all kinds of goods. Tatyana Bakalchuk, billionaire and chief executive officer of Wildberries OOO, pictured in her office in Moscow, Russia, on Feb. 16, 2021. Tatyana said Vladislav and his colleagues had tried to seize the office and that there was no meeting scheduled.

Persons: Moscow — Vladislav Bakalchuk, Russia’s, Vladislav, Tatyana Bakalchuk, Wildberries, Russ, Tatyana, Elena Chernyshova, Robert Mirzoyan, Ramzan Kadyrov, Vladimir Putin’s, “ Vladislav Organizations: Kremlin, Russ Group, Bloomberg, Getty Locations: Moscow, Russia, RVB, Wildberries, Soviet Union

☆ Thurston: For Chinese equities to improve, we need meaningful policies to boost consumption.
▼ + stars: | 2024-09-19 | 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 EmailThurston: For Chinese equities to improve, we need meaningful policies to boost consumption. Vivian Thurston, Portfolio Manager at William Blair's China A-Shares Growth strategy, discusses Chinese equities, noting they're struggling due to low consumer confidence and deflationary pressures.

Persons: Thurston, Vivian Thurston, William Blair's, they're Locations: William Blair's China

☆ I've let my daughter do the family grocery shopping alone since she was 7. It fosters her independence.
▼ + stars: | 2024-09-19 | by ( Jane Ridley | ) www.businessinsider.com time to read: +6 min

AdvertisementAfter Paige said she wanted to do the grocery shopping, I thought, "I just need to think about the steps here." Grocery shopping has three parts: what you need, where it is, and checking out. She learned the layout of the grocery store and how to use the chip on the credit card. I'm practicing grocery shopping by myself." Grocery shopping is super fun for her.

Persons: —, Russ Perry, Paige, she'll, I've, Rees, Perry, she's, It's Organizations: Service, Business Locations: Arizona

☆ Goldman Sachs' Greg Tuorto: small caps are poised for powerful catchup trade
▼ + stars: | 2024-09-19 | 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 EmailGoldman Sachs' Greg Tuorto: small caps are poised for powerful catchup tradeGreg Tuorto, Goldman Sachs Asset Management portfolio manager, joins CNBC's 'Money Movers' to discuss why he's bullish on small caps, what sectors he's keeping an eye on, and more.

Persons: Goldman Sachs, Greg Tuorto, Goldman Organizations: Management

☆ I quit Amazon after I cracked the code for promotions. It took me 14 years to become a principal engineer — here's how.
▼ + stars: | 2024-09-19 | by ( Tess Martinelli | ) www.businessinsider.com time to read: +8 min

After multiple swift promotions that led me to become a senior software engineer by 2012, I found myself in a career rut. He knew of a job opening at Amazon for a support engineer role and guaranteed me he could snag me an interview. I slowly networked my way into monthly software engineer meetings and steadily expanded my frontier of exposure within the group. Then I asked my new software engineer friends to give me mock interviews. I miss writing code.

Persons: —, Steve Huynh, there's, didn't, I'd, Tess Martinelli Organizations: Service, Business, University of Washington, Amazon, Software, Ticketmaster, YouTube, Big Tech Locations: Seattle , Washington, tmartinelli

☆ Jim Cramer explains why he's not worried about the Fed's aggressive rate cut
▼ + stars: | 2024-09-19 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

"You need to know that a rate cut is never bad for stocks, as long as it's telegraphed," he said. "A large rate cut, as long as it's communicated to the media with plenty of time in a considered way, is also acceptable." Investors were anticipating interest rate cuts for some time, with most convinced the Federal Reserve would issue a September cut, but unsure whether it would be by 25 or 50 basis points. By Thursday's close, Wall Street seemed more confident about the cut. Cramer added that a double rate cut means even more cash will flow in from the sidelines.

Persons: CNBC's Jim Cramer, Thursday's, Cramer, you'll Organizations: Federal Reserve, Dow Jones Industrial, Nasdaq, Fed, Big Tech Locations: homebuilding, cyclicals

☆ How Springfield, Ohio, became home for thousands of Haitian immigrants
▼ + stars: | 2024-09-19 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +11 min

Mayor Rob Rue told CNN the city’s population has grown about 25% over the past three years, in part due to the arrival of Haitian immigrants. Volunteer teacher Hope Kaufman leads Haitian students during an English language class at the Haitian Community Help and Support Center in Springfield, Ohio, on September 13, 2024. They’re very happy to have them there, and frankly, that’s helped the economy.”Has something changed with Haitian immigration to the US? Members of the Haitian community in Springfield, Ohio — from left, Lindsay Aime, James Fleurijean, Viles Dorsainvil and Rose-Thamar Joseph — stand for worship at Central Christian Church on September 15, 2024. But in an interview with ABC’s “This Week,” the Republican governor stressed the economic benefit the Haitian immigrants are bringing to the city.

Persons: Margery Koveleski, she’s, ”, who’s, Last, Rob Rue, Chris Cook, …, Hope Kaufman, Roberto Schmidt, CNN’s Omar Jimenez, Mike DeWine, that’s, Biden, Nicaraguans, it’s, who’ve, they’d, Cook, Julia Gelatt, ” Gelatt, “, ” What’s, “ Haiti’s, Donald Trump, Lindsay Aime, James Fleurijean, Viles Dorsainvil, Thamar Joseph —, Jessie Wardarski, Sens, Sherrod Brown of, Tim Scott of, Bryan Heck, ABC’s, ” CNN’s Chelsea Bailey, Omar Jimenez, Meridith Edwards, Chris Boyette, Jack Forrest, Priscilla Alvarez Organizations: CNN, American Community Survey, Springfield City Council, AFP, Getty, ” Ohio Gov, ABC, United, US Customs, Department of Homeland Security, Officials, Citizenship, Immigration Services, House Homeland Security, Central Christian Church, City, Republican Locations: Springfield, Ohio, Haitian, Clark County, ”, ” Clark County, Koveleski, Springfield , Ohio, “, Macy’s, ” Ohio, “ Ohio, United States, Haiti, South America, Miami, Ft . Lauderdale, New York City, Canada, Cincinnati, Columbus, What’s, Sherrod Brown of Ohio, Tim Scott of South Carolina

☆ Anti-Defamation League suing Intel, its first-ever discrimination case against major American company
▼ + stars: | 2024-09-19 | by ( Alexandra Ferreyros | Cnbc Intern | ) www.cnbc.com time to read: +5 min

For the first time in its century-plus history, the Anti-Defamation League is suing a Fortune 500 company, Intel , joining a case brought by the law firm of Wigdor on behalf of a former Israeli employee of the technology firm. Intel has operated in Israel for 50 years, where it has invested more than $50 billion, and remains one of Israel's largest private employers with more than 11,700 Israeli employees. The company estimated $8.7 billion in exports from its Intel operations, accounting for 5.5% of Israel's high-tech exports and 1.75% of the country's GDP, in 2022. When employers do not meet their legal obligations in protecting their Jewish employees, ADL will not hesitate to act." The former Israeli employee also recently sent an open letter to Intel's board of directors about his complaint.

Persons: wasn't, Jonathan Greenblatt, Greenblatt, Google, we've Organizations: Defamation League, Fortune, Intel, ADL, CNBC, Google Locations: Wigdor, Israel, U.S, boardrooms, Gaza

☆ JetBlue to open airport lounges in New York and Boston in battle for big spenders
▼ + stars: | 2024-09-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

In this article JBLU Follow your favorite stocks CREATE FREE ACCOUNTJetBlue planes at JFK's Terminal 5 in New York. Leslie Josephs | CNBCJetBlue Airways will open its first airport lounges in its more than two decades of flying, a major shift for the low-cost airline as it chases high-spending travelers. The lounges will open at the carrier's hubs in New York late next year followed by Boston, JetBlue said Thursday. She said JetBlue doesn't want to disappoint customers if they aren't able to get into the lounges because they are too crowded. The highest-tier of JetBlue's loyalty program and holders of the new premium card will get free access to the lounge for one guest.

Persons: Leslie Josephs, John F, Jayne O'Brien, JetBlue's Organizations: JetBlue, CNBC JetBlue Airways, Barclays, Delta Air Lines, United Airlines, American Airlines, JetBlue's Mint, Kennedy International, Boston Logan International, Airbus, CNBC Locations: New York, Boston

☆ Wedbush's McCanless on targets for the housing sector in 2025
▼ + stars: | 2024-09-19 | 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 EmailWedbush's McCanless on targets for the housing sector in 2025Jay McCanless, Wedbush SVP of equity research, joins 'Closing Bell' to discuss where industry-wide homebuilding volume will go from here, homebuilder stock performance, and much more.

Persons: Jay McCanless Locations: Wedbush

☆ Amazon's RTO policy is the right decision, according to a Gen Z founder who said most of his employees come in 5 days a week
▼ + stars: | 2024-09-19 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

He founded an AI startup in 2023 and told BI the majority of his 14 employees come in five days a week. "Remote work benefits people who are more stable in their career at the expense of people who are junior," he said. BI has reported on multiple Gen Z employees who feel isolated and restricted by their remote working environment. Advertisement"If you're a new grad and you're starting a job and you just work a remote job, you're just shooting yourself in the foot," he said. He told BI, "Four or five years ago, this was the norm," adding, "Why are we even thinking remote work is normal?"

Persons: —, Jeffrey Wang, Wang, Everyone's Organizations: Service, Plaid, Harvard, Business, Tech, Networking, BI Locations: San Francisco, Hawaii

☆ Princess Diana transformed her iconic Met Gala dress by ripping out the corset, designer says
▼ + stars: | 2024-09-19 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +1 min

New details about Princess Diana's 1996 Met Gala dress have been shared in a Hulu docuseries. The lingerie-inspired slip dress was designed by John Galliano, who had just joined Dior. Galliano said the dress originally had a corset, which the royal "ripped" out without telling him. Go to newsletter preferences Thanks for signing up! One of the royal's most iconic looks — a lingerie-inspired slip dress that she wore to the 1996 Met Gala — was designed by John Galliano, who had just become head designer at Dior.

Persons: Princess Diana's, John Galliano, Dior, Galliano, —, Diana, Hulu docuseries Organizations: Hulu, Service, Business

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