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Apollo's Scott Kleinman warned of a "dry spell" for investors as deals from a friendlier era unwind. Managers must adjust financial projections from deals done in the zero-interest rate era. AdvertisementA leading private equity executive just warned that investors are in for a "pretty dry spell for a few years." "I'm here to tell you everything is not going to be OK," Scott Kleinman, the co-president of Apollo Global Management, said at a session during Berlin's SuperReturn International conference on Wednesday. Managers have to adjust their financial projections for deals struck in the looser world of zero interest rates, when financing was cheap and consumers spent more.
Persons: Apollo's Scott Kleinman, , Scott Kleinman, Berlin's Organizations: Investors, Service, Apollo Global Management, Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCSIS: An 'across-the-board tariff idea' would be a 'horrible way' for the U.S. economy to goScott Kennedy of the Center for Strategic and International Studies discusses the country's China tariffs.
Persons: Scott Kennedy Organizations: CSIS, Center for Strategic, International Studies Locations: U.S, China
OpenAI CEO Sam Altman (L) speaks with Microsoft Chief Technology Officer and Executive VP of Artificial Intelligence Kevin Scott during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024. The Federal Trade Commission and the Justice Department are set to open antitrust investigations into Microsoft , OpenAI and Nvidia , examining the powerful companies' influence on the artificial intelligence industry, a source familiar confirmed to CNBC. The FTC will take the lead on looking into Microsoft and OpenAI, while the DOJ will focus on Nvidia, and the investigations will focus on the companies' conduct, rather than mergers and acquisitions, according to the source. The news also follows the FTC's January decision to conduct an extensive study on AI industry heavyweights, including Amazon , Alphabet , Microsoft, Anthropic and OpenAI. Microsoft and OpenAI did not immediately respond to requests for comment.
Persons: Sam Altman, Kevin Scott, Anthropic, Claude chatbots, that's, Lina Khan, Khan, OpenAI, — CNBC's Eamon Javers Organizations: Microsoft Chief Technology, Artificial, Microsoft, Federal Trade Commission, Justice Department, Nvidia, CNBC, FTC, DOJ, New York Times, Google, Meta Locations: Redmond , Washington
A record $7.3 trillion in money market funds could soon be reinvested elsewhere, according to Goldman Sachs. AdvertisementA "wall of money" is headed for the stock market this summer and will drive equities to record highs, according to a recent note from Goldman Sachs' trading desk. Goldman Sachs managing director Scott Rubner highlighted in the note that a record $7.3 trillion is sitting in money market funds, and a large chunk of that is poised to flow into stocks. AdvertisementIf the Fed cuts rates, then the cash yield on money market funds should drop from its current level of about 5%. AdvertisementWith stocks already trading at records, the gains Rubner expects would send the stock market to fresh highs.
Persons: Goldman Sachs, seasonals, , Scott Rubner, Rubner, NDX Organizations: Service, Federal Reserve, Nasdaq
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Wednesday's full episode of the Halftime Report — June 5, 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
A Georgia appeals court on Wednesday halted the criminal election case against Donald Trump in the state pending the outcome of his bid to disqualify the district attorney prosecuting the former president. The order by the Georgia Court of Appeals all but guarantees that Trump and eight co-defendants in the case will not stand trial before the November presidential election, where Trump is the presumptive Republican nominee. The appeals court said it would hear arguments on Oct. 4 on Trump's effort to boot Fulton County District Attorney Fani Willis from the case. The appeals court must rule on the question by March 14, 2025, according to the court's website. The appeals court order Wednesday halting the case also applies to Rudy Giuliani, David Shafer, Robert Cheeley, Michael Roman, Mark Meadows, Cathy Latham, Jeffrey Clark and Harrison Floyd.
Persons: Donald Trump, Trump, Fani Willis, Scott McAfee, Willis, Joe Biden, Rudy Giuliani, David Shafer, Robert Cheeley, Michael Roman, Mark Meadows, Cathy Latham, Jeffrey Clark, Harrison Floyd, Michael Cohen, Stormy Daniels Organizations: Georgia, Trump, Republican, Fulton Locations: Georgia, Fulton, Fulton County, New York, Manhattan
Just ask Black rugby player and England international Sadia Kabeya, who says a lack of cultural and ethnic diversity in her sport took a toll on her identity. Representation mattersA 2020 report by Sport England showed that the participation share of White British adults in rugby union was more than 90%, 8.2% higher than the national population share. A lack of diversity in the sport in England is also reflected in the demographics of rugby audiences. Kabeya is particularly passionate about the topic of Black rugby players’ hair. Its significance runs deep, given the historical links between Black hair and identity and also resistance.
Persons: Kabeya, , , ” Kabeya, Maud Muir, Lucy Packer, David Rogers, you’re, White, ” “, ” Jatin Patel, weren’t, Luther Burrell, Burrell, ” Patel, Ashton Hewitt –, , ” Hewitt, Hewitt, Tyler Miller, Liam Scott, Scott, Mike Hewitt, Patel, George Floyd Organizations: CNN — Elite, England, CNN Sport, Rugby Football Union, RFU, Rugby, Rugby Players Association, Nations, Richmond Women, CNN, Six Nations, Getty, Loughborough Lightning, Sport England, Diversity, Daily Mail, Newcastle Falcons, Dragons, United Rugby, Leinster, rugby, Ireland, Twickenham, Pictures Locations: , England, London, Richmond, Wales, Dublin, Black
Hunter Biden has pleaded not guilty to charges of illegally purchasing and possessing a gun while abusing or being addicted to drugs, a violation of federal law. Another question probed whether potential jurors or their close associates had ever sought treatment for drug use. During their, at times, emotional answers, prospective juror after juror described how drug use had afflicted people they knew. About 42% of adults in the United States say they personally know at least one person who died from a drug overdose, according to survey findings published earlier this year by the nonprofit research institute RAND Corporation. In addition to illuminating the sheer number of Americans impacted by addiction, Hunter Biden’s trial is also creating critical awareness around the very language used to describe drug use.
Persons: Hunter Biden, Wilmington’s J, Caleb Boggs, , , Scott Hadland, Hunter Biden’s, Andy Mendenhall, Bob Day, McPhillips, Marshall Cohen, Jacqueline Howard Organizations: Mental Health Services Administration, CNN, RAND Corporation, Children, Concern, Portland Police Locations: Delaware, United States, Oregon
Online marketplace behemoth eBay said it plans to no longer accept American Express , citing what the company says are "unacceptably high fees" and that customers have other payment options to shop online. It's a notable blow to American Express, whose customers are often the most attractive among merchants and spend the most money per month on their cards. "After careful consideration, eBay has decided to no longer accept American Express globally effective Aug. 17 due to the unacceptably high fees American Express charges for processing credit card transactions," said eBay spokesman Scott Overland, in a statement. Overland said that eBay customers have become aware of new ways to pay for items, making payments more competitive than ever before, and AmEx was no longer a necessary partner for eBay. "We know that the vast majority of eBay customers are willing to use alternative payment options to continue enjoying buying and selling on our marketplace," Overland said.
Persons: It's, it's, Scott Overland, Overland, AmEx, cardmembers, Adam Isserlis, Steve Squeri Organizations: behemoth, American, American Express, Costco, eBay, Apple Pay, PayPal, Visa, Amazon, National Retail Federation, AmEx, Mastercard, Express Locations: U.S, Keefe
How two entrepreneurs are using food to foster connection
  + stars: | 2024-06-05 | 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 EmailHow two entrepreneurs are using food to foster connectionScott Young and Joe Garreffa founded their shop out of a desire to live their dreams. They quickly received community support and aimed to make their establishment a safe haven for everyone, especially the queer community. They use food to foster communication and break down barriers, emphasizing the importance of love and pride for everyone.
Persons: Scott Young, Joe Garreffa
Senator Rick Scott is so furious over the felony conviction of former President Donald J. Trump that the Florida Republican says he and his colleagues need to take it out on the Senate, by acting as disrupters and blocking all Biden administration nominees and legislation. “We can’t have business as usual,” Mr. Scott insisted as the Senate convened this week for the first time since Mr. Trump’s trial ended in New York with a fusillade of “guilty” verdicts. Yet so far at least, business as usual it is. Despite the far-right conservative bloc vowing to draw the line against White House nominees and Democratic legislation, three nominees — one a judge for the usually pummeled District of Columbia, no less — have breezed through the Senate this week with plenty of Republican backing. side is willing to draw such a hard line in a fit of pique.
Persons: Rick Scott, Donald J, Trump, Mr, Scott, Trump’s, Mitch McConnell of Organizations: Florida Republican, Biden, White, Democratic, of Columbia, Senate, Republican Locations: Florida, New York, pummeled, Mitch McConnell of Kentucky
CNN —Jake Gyllenhaal and Peter Sarsgaard might be part of the same sprawling showbiz family, but their on-set etiquette is quite different from the dynamic they share as family around the dinner table. But when the cameras are off, according to Gyllenhaal, they both agree that family always comes first. (From left) Jake Gyllenhaal and Renate Reinsve in 'Presumed Innocent.' Apple TV+The Gyllenhaal siblings previously costarred in the beloved 2001 psychological thriller “Donnie Darko,” among other projects, and Sarsgaard starred in “The Lost Daughter” in 2021, which his wife directed. The group will continue to keep things all in the family when Gyllenhaal and Sarsgaard will reunite on Maggie Gyllenhaal’s next directorial endeavor “The Bride!” in 2025, according to Collider.
Persons: Jake Gyllenhaal, Peter Sarsgaard, Gyllenhaal, Sarsgaard, Maggie Gyllenhaal –, “ Peter, ” Gyllenhaal, ” Sarsgaard, it’s, ” “, Scott Turow, Harrison Ford, Rusty Sabich, , , , Renate Reinsve, Donnie Darko, Maggie Gyllenhaal’s, Innocent Organizations: CNN, Apple, Collider Locations: Chicago
CNN —Vetting materials have been sent to several candidates under consideration to be former President Donald Trump’s running mate, according to a person familiar with the process, as the quest to round out the 2024 Republican ticket heats up ahead of next month’s national party convention. It is unclear which potential candidates have received the vetting materials, and people familiar with the process caution that the search for Trump’s running mate is in flux. Doug Burgum, Florida Sen. Marco Rubio and Ohio Sen. JD Vance are all top contenders. NBC News was first to report that the vetting materials had been sent out. In an interview with Newsmax on Tuesday, Trump mentioned Scott, Burgum, Rubio, Vance and Ben Carson, his former Housing and Urban Development secretary, when asked about his search for a potential running mate.
Persons: Donald Trump’s, Doug Burgum, Florida Sen, Marco Rubio, Ohio Sen, JD Vance, South Carolina Sen, Tim Scott, Elise Stefanik, Trump, Newsmax, Scott, Burgum, Rubio, Vance, Ben Carson, , ” Trump Organizations: CNN, North Dakota Gov, Ohio, South, New York, NBC News, New, Urban Development, TMJ4, Republican National Convention Locations: Florida, South Carolina, New York, Milwaukee
Beyond the sputtering Turkish economy – many pundits blamed the electoral setback on his stance on Israel and its war in Gaza. There are no sanctions, no concrete steps taken, trade with Israel still continues,” said New Welfare’s leader Fatih Erbakan in March. For Erdogan, ‘Hamas is Palestine’Experts say the comment made by Erdogan in the presence of the Greek leader may have in fact been intended for an audience closer to home. Chris McGrath/Getty Images“For Erdogan, Hamas is Palestine. Turkish President Recep Tayyip Erdogan (C) and state officials in Ankara, Turkey on October 29.
Persons: Recep Tayyip Erdogan, , Hitler, Erdogan, Erdogan’s, , Fatih Erbakan, Israel, Seda, “ Erdogan, Ismail Haniyeh, Handout, Murat Cetinmuhurdar, ” Erdogan, Kyriakos Mitsotakis, ” Mitsotakis, misspoke, Gazans, , Evren Balta, Chris McGrath, ” Balta, Ozgur Ozel, Mustafa Kemal Ataturk, , Ekrem Imamoglu, they’ve, Fabrice Pothier, Jens Stoltenberg, Akif Cagatay Kilic, Haniyeh “, hasn’t, Benjamin, Netanyahu –, isn’t, Hakan Fidan, Fidan, Antony Blinken, Adem Altan, Balta, Turkey isn’t, Pothier, it’s Organizations: Turkey CNN, Palestinian, NATO, New Welfare, New, Isik University, CNN, Welfare, Israel, International Court of Justice, of Independence, Anadolu, Getty, TRT, Greek, , Turkish Ministry of Health, Ozyegin University, West Bank, CHP, Rasmussen Global, German Press Agency, Hamas, Turkish, Qatar, Turkish Foreign Ministry Locations: Istanbul, Turkey, Gaza, Israel, Turkish, of, Ankara, , , Palestine, NATO, Palestinian, Washington, Tehran, AFP, Iran, Qatar
Read previewThe Senate failed on Wednesday to advance a bill designed to protect access to contraceptives nationwide. Just two Republican senators — Susan Collins of Maine and Lisa Murkowski of Alaska — voted with Democrats to advance the bill. Advertisement"Do people really think that even a significant minority of the Republican conference is against access to contraception?" AdvertisementBut still — if Republicans aren't against contraception, why won't they just vote for the bill? Glenn Youngkin of Virginia vetoed a bill to protect access to contraception, arguing that it violated principles of religious freedom.
Persons: , — Susan Collins of, Lisa Murkowski, Alaska —, Chuck Schumer, Republican Sen, Thom Tillis, — Schumer, it's, Tillis, Griswold, Roe, Wade, Clarence Thomas, They've, James Lankford, Lankford, Sen, Rick Scott of, Glenn Youngkin, John Barrasso of, John Barrasso of Wyoming Marsha Blackburn of Tennessee John Boozman, Arkansas Ted Budd of, Carolina Shelley Moore Capito, West Virginia Bill Cassidy, Louisiana John Cornyn, Texas Tom Cotton, Arkansas Kevin Cramer of, Arkansas Kevin Cramer of North Dakota Mike Crapo, Idaho Ted Cruz of, Idaho Ted Cruz of Texas Steve Daines, Montana Joni Ernst, Iowa Deb Fischer, Nebraska Chuck Grassley, Josh Hawley, Missouri John Hoeven of, Missouri John Hoeven of North Dakota Cindy Hyde, Smith, Mississippi Ron Johnson, Wisconsin James Lankford, Oklahoma Mike Lee, Utah Cynthia Lummis, Wyoming Roger Marshall of Kansas Mitch McConnell, Kentucky Markwayne Mullin, Oklahoma Rand Paul of Kentucky Pete Ricketts, Nebraska Jim Risch, Idaho Mike Rounds, South Dakota Marco Rubio, Eric Schmitt, Missouri Rick Scott, Florida Tim Scott of, Florida Tim Scott of South Carolina John Thune of, Florida Tim Scott of South Carolina John Thune of South Dakota Thoms Tillis, North Carolina Tommy Tuberville, Alabama Roger Wicker, Mississippi Todd Young, Mike Braun, Indiana Katie Britt, Alabama Lindsey Graham of, Alabama Lindsey Graham of South Carolina Bill Hagerty, Tennessee John Kennedy, Louisiana Jerry Moran of, Louisiana Jerry Moran of Kansas Mitt Romney, Utah Dan Sullivan, Alaska JD Vance, Ted Budd Organizations: Service, Nine Republicans, Democratic, Republican, Business, Republicans, GOP, Oklahoma Republican, Democrats, Republican Gov, Arkansas Kevin Cramer of North, Nebraska, Kentucky, Oklahoma, South, Florida Tim Scott of South Carolina John Thune of South Dakota, North, Alabama Lindsey Graham of South Locations: — Susan Collins of Maine, Alaska, North Carolina, . Connecticut, James Lankford of Oklahoma, Oklahoma, Rick Scott of Florida, Virginia, John Barrasso of Wyoming, Arkansas, West, Louisiana, Texas, Arkansas Kevin Cramer of North Dakota, Idaho, Idaho Ted Cruz of Texas, Montana, Missouri, Missouri John Hoeven of North Dakota, Mississippi, Wisconsin, Utah, Wyoming, Nebraska, South Dakota, Florida, Florida Tim Scott of South Carolina, Florida Tim Scott of South Carolina John Thune of South, Alabama, Indiana, Alabama Lindsey Graham of South Carolina, Tennessee, Louisiana Jerry Moran of Kansas, Ohio
How two entrepreneurs combine gourmet delights with inclusivity
  + stars: | 2024-06-05 | 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 EmailHow two entrepreneurs combine gourmet delights with inclusivityScott Young and Joe Garreffa, driven by a passion for food and community, have created a unique space in Nyack, New York, that combines gourmet delights with inclusivity. From their love of cheese and charcuterie to their commitment to creating a safe space for queer individuals, Scott and Joe's shop has become a hub of support and pride.
Persons: inclusivity Scott Young, Joe Garreffa, Scott Locations: Nyack , New York
United Airlines CEO Scott Kirby said ULCCs are "going out of business." Kirby criticized no-frills carriers like Spirit for prioritizing cheap costs over customer service. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In a candid interview with The Air Show podcast published on Monday, United Airlines CEO Scott Kirby said the carriers are "going out of business" due to bad business strategy and poor customer service. Kirby's comments point to no-frills carriers like Frontier Airlines and Spirit Airlines, which offer cheap tickets thanks to their unbundled fares and barebones planes.
Persons: Scott Kirby, Kirby, Organizations: United, Service, Air, United Airlines, Frontier Airlines, Spirit Airlines
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Tuesday's full episode of the Halftime Report — June 04, 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
As his son tapped home to clinch his first PGA Tour title at the RBC Canadian Open on Sunday, Dougie MacIntyre – the head greenskeeper at Glencruitten Golf Club in Oban, Scotland – simultaneously became a PGA Tour-winning caddie. Tears flowed freely for father and son as the duo soaked up the weight of the achievement on the 18th green. “I’m crying with joy, but I’m laughing because I didn’t think it was possible,” MacIntyre, a first-time PGA Tour victor on his 45th start, told CBS Sports. I’m a grasscutter not a caddie,” 59-year-old MacIntyre, wiping away tears, added to CBS Sports. In a video call with his mother shared by the PGA Tour on X, formerly known as Twitter, MacIntyre warned her of the level of revelry expected to follow.
Persons: Robert MacIntyre’s, Dougie MacIntyre –, Scotland –, MacIntyre, Martin Laird, ” MacIntyre, , , Frank Gunn, Scott Carmichael, Charles Schwab Challenge, , Bob …, Bob MacIntyre, , caddies, Dad, I’m, Nathan Denette, ” –, MacIntyre –, Mackenzie Hughes, MacIntyre – steadied, reassurances –, , that’s, Ben Griffin, Tom Kim, Rory McIlroy Organizations: CNN, RBC Canadian, Golf, Hamilton Golf, Country Club, PGA, CBS Sports, Canadian Press, Ryder, Team Europe, Hamilton Country Club, Twitter Locations: Oban, Scotland, Ontario, Scottish, Rome, America Orlando, Pinehurst, North Carolina
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 — June 3, 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
Ben Affleck and Jennifer Lopez preparing to film a scene on the set of their movie "Gigli" on December 19, 2001 in Los Angeles. Scott Alfieri/Getty ImagesAffleck starred as the titular character, a mobster named Larry Gigli, and Lopez portrayed a gangster named Ri cki. At the time, Lopez was married to Cris Judd, her second husband (she was briefly married to Ojani Noa prior to that). "When I met her we became really, really, really good friends," Affleck said. Affleck said that neither of them changed aspects of themselves, and they "became really good friends in a way that was very comfortable."
Persons: Lopez, Affleck, Ben Affleck, Jennifer Lopez, Scott Alfieri, Getty, Larry Gigli, Cris Judd, Ojani Noa, Judd, Jen Locations: Los Angeles
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Federal Documents CaseImage The federal indictment against Mr. Trump in the documents case. The charges were brought by Jack Smith, the special counsel appointed to oversee the federal investigations into Mr. Trump. Credit... Jacquelyn Martin/Associated PressLast summer, Mr. Smith charged Mr. Trump with conspiring to subvert democracy and stay in power against the will of voters following his loss in the 2020 election. Georgia Election CaseImage Fani Willis, the Fulton County district attorney, at a hearing on the Georgia election interference case in March in Atlanta. Dozens of pretrial motions have yet to be resolved, including recent sparring over the precedent in a legal case from the 1890s.
Persons: Donald J, Trump, Jon Elswick, Jack Smith, Smith, Aileen M, Cannon, Cannon’s, Jacquelyn Martin, Tanya S, Fani Willis, Alex Slitz Mr, Fani, Willis, Nathan Wade, Scott McAfee, Wade, McAfee’s, Sidney Powell, Kenneth Chesebro, Jenna Ellis, Donald Trump Organizations: Washington , D.C, Mr, Associated Press, Department, Justice Department, Associated, Capitol, of Appeals, Trump Locations: Manhattan, Florida, Washington ,, Georgia, , Washington, Fulton County, Atlanta ., Fulton County ,
Mr. Giuliani’s run-ins with the law have left his life and finances in tatters. Mr. Giuliani has filed for bankruptcy and owes two Georgia women a $148 million judgment from a defamation case. “Anyone who thinks that Mr. Giuliani is off his game in terms of legal acumen is strongly mistaken,” Mr. Aidala said. Like many at the birthday party, Mr. Aidala was displeased by Mr. Trump’s conviction on charges related to hiding hush money paid to a porn star. In the video, Mr. Trump stands with a small crowd of people who appear to be some of his supporters.
Persons: Donald J, Trump, Rudolph W, Giuliani, Giuliani’s, Mr, Anthony Carbonetti, Barry Kamins, “ He’s, he’s, John Catsimatidis, , we’ve, Kamins, Arthur Aidala, , ” Mr, Aidala, Harvey Weinstein, Andrew, Caroline, Bernard B, Rudy Washington, Raheem Kassam, Miranda Devine, Michael Ragusa, holstered, Scott LoBaido, I’m, MAGA ”, “ Joe, Rudy Giuliani, Rudy Organizations: City Hall, Republican, WABC, New York, Mr, The New York Times, Breitbart, New, New York Post, Trump Locations: tatters, Arizona, Georgia, Washington, Dodge Durango, client’s, Panama, Lower Manhattan, New York City, New York, Bay Ridge, Brooklyn, Staten Island, America, Suffolk County
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