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CNN —President-elect Donald Trump and Elon Musk have big ambitions for making the federal government leaner and more efficient by reviewing its budget and operations from top to bottom. Details about how the new Department of Government Efficiency, or DOGE, will operate – and how Musk and his co-leader Vivek Ramaswamy will avoid conflicts of interest – remain scarce. Musk also took aim at the Department of Education, a frequent target of Trump and Republicans, criticizing the agency for allegedly indoctrinating kids with left-wing propaganda and other failings. Slashing that much from the federal budget – which totaled roughly $6.8 trillion in fiscal 2024 – would require cutting every program by roughly one-third, said Bobby Kogan, senior director of federal budget policy at the left-leaning Center for American Progress. “Trump’s ‘Department of Government Efficiency’ will not be an actual department.
Persons: Donald Trump, Elon Musk, Vivek Ramaswamy, Trump, ” Musk, Ramaswamy, Musk, , , ” Ramaswamy, Stephen Moore, Elon, Vivek, Moore, Larry Summers, Clinton, Glenn Hubbard, George W, Bush, Bobby Kogan, ” Kogan, Brian Riedl, Riedl, GOP Sen, Rob Portman, Sharon Parrott, Ronald Reagan, Reagan, William Hoagland, Peter G, Peterson, , Jon Greenbaum, ’ that’s, Harry Sandick Organizations: CNN, Elon, Department of Government, Trump, Republican, White House, SpaceX, Department of Education, of Defense, Veterans Affairs and Homeland Security, Education Department, Labor Department, FBI, Nuclear Regulatory Commission, Heritage Foundation, US, of Economic, American, Security, Social Security, Manhattan Institute, GOP, ‘ Department, Government, White, White House & Congress, Congressional Republicans, Children’s Health Insurance, Affordable, Budget, Republicans, Grace, Center, Elon Musk, Federal Advisory Committee, Democratic Locations: Rob Portman of Ohio
CNN —Donald Trump’s increasingly provocative Cabinet picks have left some Republican senators aghast and Washington in shock. The dismay engulfing establishment elites contrasted with the euphoria rocketing through conservative networks and social media among Trump fans. News that Hegseth had been picked to lead the Pentagon rocked Washington the night before the Gaetz pick and sparked similar questions about Trump’s motives. And she was accused of “parroting” false propaganda from America’s premier espionage adversary, Russia, by no less than Utah GOP Sen. Mitt Romney. Not all Trump’s picks are contentious.
Persons: Donald Trump’s, aghast, Florida Republican Matt Gaetz —, Justice Department —, Tulsi Gabbard, Trump’s MAGA, Pete Hegseth, Geraldo Rivera, Gaetz —, Trump, , Anthony Scaramucci, CNN’s Jake Tapper, Pennsylvania Democratic Sen, John Fetterman, CNN’s Manu Raju, , , Gaetz, Elie Honig, Hegseth, Gabbard, , Bashar al, Assad, Utah GOP Sen, Mitt Romney, Florida Sen, Marco Rubio, Rubio, Alaska Sen, Lisa Murkowski, Maine Sen, Susan Collins, Iowa Republican Sen, Joni Ernst, South Dakota Sen, John Thune, Thune, Matt Gaetz, Alabama Sen, Tommy Tuberville, Republicans — you’re, ” Tuberville, acquiesce Organizations: CNN, Florida Republican, Justice Department, Democratic, Fox News, Trump, Senate, Pennsylvania Democratic, Gaetz, FBI, CNN International ., Pentagon, Fox, Defense Department, Utah GOP, GOP, Republican Trump, Iowa Republican, South Dakota, Republican, Republicans, Pennsylvania Senate, Treasury, Health, Human Services, Republican Senate Locations: Washington, Florida, Pennsylvania, Russia, America, Iraq, Afghanistan, Hawaii, Utah, China, Alaska, South, Alabama
In the race against the US for global tech supremacy, China has the upper hand in at least one critical area: rare earths. AdvertisementFor more than a year, Beijing has slowly been tightening its grip on critical minerals and rare earths. Now, there are fears that China could tighten the global rare earths supply chain even more. China's rare earth dominanceChina has long dominated the rare earths market due to supply, low labor costs, and lax environmental standards. In 2022, the US Department of Defense awarded $45 million to MP Materials for rare earth oxide processing, and in 2023, it awarded over $288 million to Lynas USA to set up commercial-scale rare earth oxide production facilities.
Persons: Deng Xiaoping, , Rick Waters, Donald Trump's, Louise Loo, Zongyuan Zoe Liu, Chris Tang, Nick Vyas, USC Marshall's Randall R, Vyas, he's Organizations: European Union, World Trade Organization, US Department of Defense, Materials, US, White, Nvidia, Taiwan Semiconductor Manufacturing, Oxford Economics, Greater China, Council, Foreign Relations, Soviet, Bloomberg, AMD, USC, Kendrick, Supply Chain Institute, Bureau of Industry, Security Locations: China, US, Beijing, Japan, USA, Eurasia, Washington, Taiwan, Greater, Soviet Union, North Korea, North Vietnam
In one, Biden arrived as the confident statesman burnishing a legacy and preparing to hand off to his vice president. In the other, he was faced with anxious world leaders and fresh questions about whether, as he’d spent four years claiming, “America was back.”He wanted the first. Denied a victory lap on the world stage, Biden will instead use his time in Peru and Brazil this week for reflection and looking ahead. No longer viewed on the world stage as the American president who defeated Donald Trump — and his “America First” ideology — for good, Biden will find himself amid leaders who are already moving on. As Biden was preparing to depart following his meeting with Trump, his top national security aide said his message to the world wouldn’t change, despite Trump’s election.
Persons: Joe Biden’s, Biden, burnishing, he’d, , Donald Trump —, Trump, , Xi Jinping, trilateral, isn’t, he’s, Jake Sullivan, it’s, Biden’s, “ We’re, Emmanuel Macron, , Barack Obama, Xi, Obama, ” Xi, Ben Rhodes Organizations: Peru CNN —, Trump, US, APEC, White, World Bank, CNN Locations: Lima, Peru, South America, America, Brazil, Palm Beach, Rio de Janeiro, DC, China, Japan, South Korea, Trump, Europe, Pacific, United States
Disney stock surges on streaming growth, guidance
  + stars: | 2024-11-14 | by ( Lillian Rizzo | ) www.cnbc.com   time to read: +6 min
Disney | PixarDisney reported its fiscal fourth-quarter earnings Thursday, narrowly beating analyst estimates as streaming growth helped propel its entertainment segment. During Disney's fiscal 2025, the company expects high-single-digit adjusted earnings growth compared with the prior fiscal year. Disney anticipates double-digit percentage growth in operating income for its entertainment segment for fiscal 2025. Streaming stridesThe atmosphere at the Disney Bundle Celebrating National Streaming Day at The Row in Los Angeles on May 19, 2022. During the fiscal fourth quarter Disney's streaming entertainment ad revenue was up 14% due to Disney+, and executives expect it to be a driver of streaming revenue going forward.
Persons: , Bob Iger, who's, they're, Hugh Johnston, Disney, Presley Ann, Walt Disney Organizations: Disney, Pixar Disney, Revenue, Warner Bros, Getty, Hulu, ESPN, Discovery, Netflix, Comcast, Paramount Global, " Media, U.S, Walt Locations: Los Angeles, India
Senators confirm need for Federal Reserve's independence
  + stars: | 2024-11-14 | by ( Emily Wilkins | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSenators confirm need for Federal Reserve's independenceCNBC's Emily Wilkins reports on the latest news from the White House and Federal Reserve.
Persons: Emily Wilkins Organizations: Federal, White, Federal Reserve
CNN —As he stood inside the echoing hall of the prison, Matt Gaetz seemed impressed. It was July, and Gaetz — who will oversee the Federal Bureau of Prisons if he becomes attorney general — was visiting El Salvador’s notorious Terrorism Confinement Center (Cecot), where gang leaders and murderers are locked up and from which they are never released. “This is the solution” for El Salvador, Gaetz added, in a video released by Bukele. That trip came just a month after Gaetz, Donald Trump Jr. and others traveled to Bukele’s second inauguration. Gaetz founded a congressional El Salvador caucus with Democratic Rep. Vicente Gonzalez of Texas in July in a rare moment of bipartisanship.
Persons: Matt Gaetz, , , Gaetz, Donald Trump’s, Gaetz —, , El Salvador’s, El, Nayib Bukele, Trump, Bukele —, Bukele, Donald Trump Jr, Vicente Gonzalez Organizations: CNN, Federal Bureau of Prisons, El, Supreme, Time Magazine, Democratic Rep, Vicente Gonzalez of Texas, Representatives, State Department Locations: United States, El Salvador, Central, South America
Gold prices extended their decline to a near two-month low Thursday amid risk-on sentiment and as the dollar continues to strengthen following Donald Trump's election victory last week. He elaborated that gold prices are likely to trade lower as U.S. equities rally on prospects of lower tax and regulations. In spite of the slide in gold prices, market watchers are still optimistic on the fundamentals of the bullion. The underlying drivers of the gold market are still in place, Layton said. A mix of rising debt, geopolitical tensions and central bank demand are expected to support higher gold prices, said Canaccord Genuity.
Persons: Donald Trump's, Maximilian Layton, bitcoin, Trump, Layton, Commonwealth Bank of Australia's Vivek Dhar, Nicky Shiels, Canaccord, Trump's, Canaccord Genuity Organizations: Co, New York Mercantile, White, CNBC, U.S, Commonwealth Bank of Australia's, MKS Locations: Bangkok, Thailand, U.S, bitcoin, Central
Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. This time around, Trump's tariff proposals on Chinese imports could help Amazon in its competition against low-price online sellers Temu and Shein. Salesforce : Not a Trump stock, but it wasn't a Kamala Harris stock either. Constellation Brands : The Mexican beer importer has been punished on fears about what Trump's tariff and immigration proposals could do to its business. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, Jim, Donald Trump's, Trump's, Abbott, Trump, Hock Tan, Tan, We'll, it's pricier, Morgan Stanley, Wells, Kamala Harris, Agentforce, That's, Biden, Dover, Eaton's, Elon, Waymo, JD Vance, we've, Linde, that's, Eli Lilly, Robert F, Kennedy Jr, Kennedy, Lilly, Mark Zuckerberg, Zuckerberg, Goldman Sachs, shouldn't, Nextracker, Brian Niccol, Niccol, Stanley Black, Decker, TJ Maxx, Wells Fargo, Jim Cramer Organizations: Jim Cramer's Charitable Trust, CNBC, Abbott Laboratories, Abbott Labs, White, Biden, AMD, Trump, Wednesday, Broadcom, VMWare, BlackRock, Costco, Coterra Energy, Coterra, DuPont, Disney, GE Healthcare, GE Aerospace, Google, Honeywell, Elliott Investment Management, Linde, Microsoft, Big Tech, Apple, Meta, Financial Times, Nvidia, Palo Alto Networks, Yum Brands, Taco Bell, Constellation Brands, Management, TJX, Marshalls, Jim Cramer's Charitable Locations: China, India, Missouri, Wells Fargo, BlackRock, Shanghai, Dover, U.S, Palo, HomeGoods
Analysts responded positively to the news, pointing to a potential "turning point" for the embattled brand. The plans were delivered alongside Burberry's 2024 interim results, which saw sales fall 20% for the second consecutive quarter. A 'turning point' for embattled BurberryThe underperformance comes amid a wider slowdown in the luxury sector, with the personal luxury goods market set to contract 2% this year. Mamta Valechha, consumer discretionary analyst at Quilter Cheviot, described it as a "turning point in what has been a very difficult period." Pedestrians walk past the window display of the store of British fashion label Burberry, in central London, on September 2, 2024.
Persons: Kevin Lee, Schulman, Joshua Schulman, Michael Kors, Burberry, Burberry Schulman, Burberry's, Piral Dadhania, Dadhania, Mamta, Cheviot, Henry Nicholls Organizations: Getty, Burberry, RBC Capital Markets, Afp Locations: Shanghai, London
I bought a house in Cork, Ireland, but I still live in the US for part of the year. My Irish husband lives in the house full time, and I go back and forth between Atlanta and Cork. It's a bit complicated, but I'm glad I have time to figure out all the logistics of moving abroad. AdvertisementYears ago, I had a dream (yes, really) telling me to head to West Cork, Ireland. I've had to be really, really particular about which pieces and belongings I want to take to Ireland because shipping things overseas isn't cheap.
Persons: , who've, — who's, I'm, it's, I've, Julia Skinner Organizations: Service, Western Locations: Cork, Ireland, Atlanta, It's, West Cork, Dunnes, Western Europe, East Coast
The 10-year Treasury yield sat near flat at 4.449%, near its highest point since July. The 10-year Treasury yield hovered near a 4-month high on Thursday after Federal Reserve chair Jerome Powell indicated that the central bank is in no hurry to slash interest rates. The moves followed Fed Chair Jerome Powell's speech in Dallas Thursday, where he told business leaders the cenral bank doesn't need to quickly cut interest rates. "The economy is not sending any signals that we need to be in a hurry to lower rates," Powell said in prepared remarks. The speeches come as investors and economists scrutinize what President-elect Donald Trump's return to the White House could mean for U.S. interest rates.
Persons: Jerome Powell, Jerome Powell's, Powell, Adriana Kugler, Donald Trump's, Dow Jones, , Sarah Min Organizations: Treasury, Federal, Fed Locations: Dallas
Various GOP figures showed up at the courtroom to support Donald Trump during his trial earlier this year. Four of the loyalists who rallied behind Trump during the trial have already been tapped for roles in his incoming administration. The Trump allies who supported him in court and have now been named to his administration are:JD Vance attended Trump's hush-money trial. Vivek Ramaswamy called Trump's hush-money trial "a politicized persecution" when he showed up at the courthouse. The congressman supported Trump in court during the hush-money trial on May 16.
Persons: Donald Trump, Trump, , Todd Blanche, Emil Bove, Dean John Sauer, JD Vance, Mark Peterson, Vance Ohio Sen, Vance, Michael Cohen, Cohen, Trump's, Matt Gaetz, Victor J, Matt Gaetz Trump, Gaetz, Vivek Ramaswamy, Curtis Means, Elon Musk, Ramaswamy, Mike Waltz, Michael M, Mike Waltz Trump, Waltz Organizations: Service, Trump, Florida, Vivek, GOP, Department of Government, NY Locations: Manhattan, Washington
Unlike going no-contact, low contact allows you to keep some form of connection with a parent. Therapists say that you can go low contact by reducing how you communicate, and how often. Going low contact can also mean disclosing less vulnerable information about yourself. Here are some of the signs that going low contact with a parent might benefit you. AdvertisementYou still want a relationshipOne of the biggest pluses of going low contact instead of no contact is that you can preserve the relationship, Wright said.
Persons: , Annie Wright, who's, Najamah Davis, Wright, Davis, You've, hardwired, yearn Organizations: Service Locations: California, New Jersey
The surprise announcement Wednesday, and Gaetz's swift resignation from Congress, also drew attention to a House Ethics Committee probe into allegations that Gaetz engaged in sexual misconduct, illicit drug use and other wrongdoing. "I think there should not be any limitation on the Senate Judiciary committee's investigation, including whatever the House Ethics Committee is generated," Cornyn told reporters on Capitol Hill. We would support the House Ethics Committee immediately releasing their report," John Clune, a partner at Hutchinson Black and Cook, wrote on X. Gaetz's resignation effectively ends the Ethics Committee probe, because the panel's reach is limited to members of the House. The Ethics panel was slated to meet Thursday behind closed doors, a source familiar with the situation told NBC.
Persons: Donald Trump's, Matt Gaetz, Gaetz, Sen, John Cornyn of, Cornyn, Department of Justice —, Gaetz's, John Clune, Cook, Michael Guest Organizations: Senate, Republican, Capitol, Department of Justice, Hutchinson, Punchbowl News, Committee, NBC Locations: Florida, John Cornyn of Texas
My husband and I rent an apartment on the northern coast of California and own a home in Mexico. We live in Mexico's Guanajuato part of the year and love its walkability and vibrancy. AdvertisementMy husband and I, who are 82 and 73 respectively, love being renters — but we also own a home outside of the US. For over 20 years we've split our time between our rented apartment on California's northern coast and our 150-year-old adobe house in Guanajuato, Mexico. We often spend spring, summer, and fall in California before heading down to Mexico around Thanksgiving to live in our house until it's time to fly back.
Persons: , we've, MARCO BOTTIGELLI, vibrancy, isn't, We've, viniendo Organizations: Service Locations: California, Mexico, Mexico's Guanajuato, Eureka , California, Guanajuato, Humboldt County, Humboldt Bay, Eureka
Trump's transition team aims to kill Biden EV tax credit: Reuters
  + stars: | 2024-11-14 | by ( ) www.cnbc.com   time to read: +3 min
Win Mcnamee | Getty Images News | Getty ImagesPresident-elect Donald Trump's transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters. Ending the tax credit could have grave implications for an already stalling U.S. EV transition. Representatives with the Trump transition and Tesla did not immediately respond to requests for comment. The alliance last month in an Oct. 15 letter urged Congress to retain the EV tax credits, calling them "critical to cementing the U.S. as a global leader in the future of automotive technology and manufacturing." Trump's energy transition team views the consumer EV credit as an easy target, believing that eliminating it would get broad consensus in a Republican-controlled Congress as part of a larger tax-reform bill.
Persons: Joe Biden, Biden, Win Mcnamee, Donald Trump's, Tesla, Elon Musk, Joe Biden's, oilman Harold Hamm, Doug Burgum, Mary Barra, Ngan, Trump, Donald Trump, Allison Robbert Organizations: White, Washington , D.C, Getty, Reuters, Trump, EV, Motors, Continental Resources, North Dakota, General Motors, Chevrolet Silverado, Huntington Place Convention, Afp, Alliance, Automotive Innovation, Tesla, Republican, Republicans, Hyatt Locations: Washington ,, Detroit , Michigan, Florida, Washington , DC
Amid rising costs, Saudi Arabia is scaling back Neom plans to focus on sports venues. The new city faces financial challenges, leadership changes, and scrutiny over human rights issues. AdvertisementSaudi Arabia is changing plans for mega-city Neom to cut costs and prioritize building for international sporting events. Governments and human rights groups have also scrutinized alleged human rights abuses, including of migrant workers building Neom. In July, Saudi Arabia rejected allegations that three men were sentenced to death because they criticized evictions to make way for the Neom project.
Persons: , Neom, Francois Nel Organizations: Service, Reuters, Games, NEOM Beach, Neom Locations: Saudi Arabia, New York City, Saudi
CNN —Koalas are normally found in eucalyptus trees, but one couple came home in Australia on Wednesday and were shocked to find one in their bedroom. “I was scared, happy and excited at the same time,” Fran Dias Rufino told CNN from Adelaide in South Australia. Francielle Dias RufinoVideo showed the koala sitting on the floor beside their bed, staring at Rufino and her husband, Brunno, before climbing onto a bedside table. In South Australia, where the Rufinos live, koala numbers are stable, and in some areas, populations are so healthy they’re being managed to protect the habitat. Video showed the koala scurrying around the house, presumably looking for a way out, as Rufino screamed frantically in the background.
Persons: CNN —, ” Fran Dias Rufino, Rufino, , , Francielle Dias Rufino Video, Brunno Organizations: CNN, Australian Capital Territory Locations: Australia, Adelaide, South Australia, Brazil, New South Wales, Queensland
Sen. John Cornyn, a member of the Senate Judiciary Committee, said he “absolutely” wants to see the House Ethics Committee’s findings on Gaetz. “I think there should not be any limitations on the Senate Judiciary Committee’s investigation, including whatever the House Ethics Committee has generated,” he said. Trump has pushed to keep all options on the table to greenlight his nominees, including recess appointments, which would bypass the typical Senate confirmation process. However, Sen. Rick Scott told CNN, “I believe in recess appointments.” Scott had supported recess appointments during his bid for GOP leader, which he lost to Thune. The Supreme Court has ruled on questions about recess appointments, which makes the outcome of taking these questions to court uncertain.
Persons: Donald Trump’s, Matt Gaetz, Sen, John Cornyn, , , Gaetz, John Thune, James Lankford, ” Cornyn, Cornyn, Rick Scott, ” Scott, Scott, Trump’s, Dick Durbin, Richard Blumenthal, Chris Coons, Durbin, Donald Trump, ” Blumenthal, “ Matt Gaetz, ” Coons, he’s, Thune, Leah Millis, Reuters Sen, Chuck Grassley, “ We’ve, ” Grassley, Lindsey Graham, Thom Tillis, Tillis, Graham, ” Sen, Josh Hawley, ” Graham, Matt, ” Tillis, Samuel Corum, it’s, , Thune couldn’t, CNN’s Danya Gainor, Sarah Ferris, Annie Grayer, Ted Barrett, Morgan Rimmer, Emma Newman Organizations: CNN, Top, Republicans, GOP, Trump, Florida Republican, Democratic, Democrats, Republican U.S, U.S, 119th, Capitol, Reuters, Democrat, Senate Locations: Florida, Washington , U.S, Sens, Washington , DC
AdvertisementDonald Trump's cabinet choices suggest a skeptical direction of travel on Ukraine policy. Advertisement'Losing your allowance'The comments suggest that Trump would find little opposition if he moved to cut US aid to Ukraine. Ukraine's president, Volodymyr Zelenskyy, has said that US aid being cut would lead to Ukraine losing the war. Trump's son, Don Jr. — an influential figure albeit with no official role — seemed to relish the idea of Ukraine losing its funding. Trump's callIt remains to be seen how influential any of Trump's picks would be in shaping policy.
Persons: Donald Trump's, Trump, Donald Trump, hasn't, Ukraine —, Marco Rubio, Joe Biden's, Trump's, Vladimir Putin, Pete Hegseth, Shawn Ryan, Putin, Alfons Cabrera, Mike Waltz, Biden, Tulsi Gabbard, Volodymyr Zelenskyy, Don Jr, , Alexander Libman, Mark Cancian, Mylovanov Organizations: Ukraine, State, Defense, NBC News, Pentagon, Fox News, Getty, National Intelligence, Free University of Berlin, Marine Corps, Kyiv School of Economics, Economist Locations: Ukraine, Kyiv, America, Russia, Florida, Afghanistan, Iraq, Polish, Ukrainian, Russian, Kramatorsk, Donetsk Region, Europe
Four of the Trump loyalists who rallied behind him during the trial have already been tapped for roles in the president-elect's incoming administration. AdvertisementThose Trump allies include:JD Vance attended Trump's hush-money trial. AdvertisementGaetz was among an entourage of rank-and-file House Republicans who showed up at Trump's hush-money trial in support of the then-presidential hopeful. AdvertisementVivek Ramaswamy called Trump's hush-money trial "a politicized persecution" when he showed up at the courthouse. The congressman supported Trump in court during the hush-money trial on May 16.
Persons: Donald Trump, JD Vance, Matt Gaetz, Vivek Ramaswamy, Mike Waltz, Trump, , Mark Peterson, Vance Ohio Sen, Vance, Michael Cohen, Cohen, Trump's, Victor J, Matt Gaetz Trump, Gaetz, Curtis Means, Elon Musk, Ramaswamy, Michael M, Mike Waltz Trump, Waltz Organizations: Service, Trump, Florida, Vivek, GOP, Department of Government, NY Locations: Manhattan, Washington
Elon Musk will co-lead the Trump White House's Department of Government Efficiency. Musk is known for his intense work ethic and willingness to make drastic cuts to save costs. AdvertisementPresident-elect Donald Trump tapped Elon Musk to co-lead a new Department of Government Efficiency to reduce government spending along with businessman Vivek Ramaswamy. At companies like X, Tesla, and SpaceX, Musk is known for modeling an intense work ethic and making drastic workforce reductions to lower costs. AdvertisementMusk, X, Tesla, and SpaceX did not immediately respond to requests for comment.
Persons: Elon, , Donald Trump, Elon Musk, Vivek Ramaswamy Organizations: Trump White House's Department, Government, SpaceX, Service, of Government, LinkedIn
They're seeking $38 million paid to PACs and political nonprofits ahead of the 2022 elections. The lawsuits are seeking some $5 million from four groups affiliated with Democrats and $1.8 million from FWD.us, a bipartisan nonprofit founded by Mark Zuckerberg. A Republican super PAC also led by Law, the Senate Leadership Fund, received $3.5 million in FTX funds in August and October 2022 that a separate lawsuit argues must be returned. "We're reviewing the complaint and will take appropriate action," a Senate Leadership Fund spokesperson, Torunn Sinclair, said. AdvertisementThe lawsuits say the donations were intended to burnish the image of FTX and Bankman-Fried in political circles.
Persons: Sam Bankman, Ryan Salame, , Mark Zuckerberg, Steven Law, Torunn Sinclair, Fried, Anthony Scaramucci, Binance, Crypto.com, It's, FTX, Doug Kelley, Sinclair, Todd Schulte, FWD.us, Salame Organizations: FTX, Republican, PAC, Law, Fund, White House, SkyBridge Locations: FWD.us, FTX, Salame
European markets closed higher on Thursday as traders digested a slew of earnings and assessed fresh inflation data for a signal on the possible trajectory of interest rate cuts. The pan-European Stoxx 600 provisionally ended the day 1.08% higher, with all sectors and major bourses trading in the green. Shares of Burberry jumped more than 22%, after the British luxury house announced a sweeping overhaul strategy to stem declining sales. Investors are assessing the likelihood of another interest rate cut by the U.S. Federal Reserve in December after the latest U.S. inflation data. U.S. stocks were little changed Thursday, while Asia-Pacific markets traded in mixed territory overnight.
Persons: Donald Trump's Organizations: Burberry, Siemens, Bilfinger, Merck, Fincantieri, Metro Bank, Aviva, Deutsche Telekom, U.S . Federal Reserve, Federal Locations: Veon, Asia, Pacific
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