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☆ The Trump trade showed its resilience this week
▼ + stars: | 2024-11-22 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Small-cap stocks were one of the biggest winners on Wall Street this week, serving as a prime example that the Trump trade is alive and well after a brief pause . Small caps were not the only components of the Trump trade that had strong gains this week. According to Tom Fitzpatrick, managing director at R.J. O'Brien & Associates, all signs point toward the Trump trade staying strong. Tesla, other stock components of the Trump trade Electric vehicle stock Tesla advanced nearly 10% this week. "I believe energy still has a lot to prove and the Trump trade didn't work out as well as investors thought it supposed to over his first term."

Persons: Trump, Russell, Donald Trump, Tom Fitzpatrick, Fitzpatrick, Bitcoin, Gary Gensler, Tesla, Elon Musk, Vivek Ramaswamy, Halliburton, Jay Woods, Woods Organizations: Nasdaq, Dow Jones, Investors, Trump, Tesla, Trump Media & Technology Group, Halliburton, U.S . Steel, O'Brien & Associates, CNBC, U.S, Securities and Exchange Commission, Freedom Capital Markets . Energy

☆ An EV battery maker that raised $15 billion from investors including Goldman Sachs filed for bankruptcy protection after almost running out of cash
▼ + stars: | 2024-11-22 | by ( Will Martin | ) www.businessinsider.com time to read: +2 min

AdvertisementEV battery maker Northvolt has entered Chapter 11 bankruptcy protection, it said on Thursday. Northvolt said it had secured an extra $245 million in funding as part of the bankruptcy deal. Northvolt, the battery company founded by two former Tesla executives, has filed for Chapter 11 bankruptcy protection after struggling to ramp up production. AdvertisementFounded in 2016 by Carlsson and Paolo Cerutti, Northvolt aimed to revolutionize battery manufacturing but has struggled in recent months. In June, BMW pulled out of a $2.1 billion order for battery cells for its EVs, citing delays to deliveries.

Persons: Northvolt, Goldman Sachs, Tom Johnstone, Peter Carlsson, Carlsson, Paolo Cerutti, Ford Organizations: EV, Tesla, JPMorgan, Microsoft, BMW Locations: Swedish, Sweden, Skellefteå, Europe

☆ Trump's new administration should 'not tolerate' the level of cyber attacks coming from Russia and China, Microsoft president says
▼ + stars: | 2024-11-22 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

Microsoft President Brad Smith has urged Donald Trump to protect the US from Russian, Chinese, and Iranian cyber attacks. He said that Joe Biden's administration had made "tremendous progress" on the issue, but added that more steps were needed to dissuade and deter countries from "unleashing these cyber attacks." Smith's appeals come as the US faces an ongoing wave of cyber attacks that have targeted government agencies, election campaigns, and businesses. and in some cases even facilitated" such attacks, Smith told the FT. The review found that a Microsoft security breach by a Chinese-affiliated hacking group in 2023 was "preventable and should never have occurred."

Persons: Donald Trump, Cybersecurity, Smith, Brad Smith, Trump, Joe Biden's, Christopher Wray, cyberattacks, Satya Nadella Organizations: Microsoft, Financial Times, Cyber Safety Locations: Russia, China, Iran

☆ Jeff Bezos says Elon Musk's claims are '100% not true' after the Tesla CEO reignites their feud
▼ + stars: | 2024-11-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

AdvertisementElon Musk reignited his long-running feud with Jeff Bezos in an X post on Thursday. Musk said Bezos told people they should sell Tesla and SpaceX stock because Donald Trump would lose. Bezos said Musk's claim was "100% not true," to which Musk replied, "I stand corrected." XBusiness Insider was unable to confirm the veracity of Musk's post. AdvertisementNovember 22, 2024: This story has been updated to include Bezos' response to Musk's Thursday X post, and Musk's response to Bezos.

Persons: Elon Musk, Jeff Bezos, Musk, Bezos, Donald Trump, Trump, wasn't, he'd, Musk's, Tesla, SpaceX isn't, Thomas Roulet, Elon, Bill Gates, Gates Organizations: SpaceX, X, Mar, Department of Government, Amazon, Trump, Tech, Bloomberg, University of Cambridge, Twitter, Microsoft Locations: Trump's Florida, China

☆ Why some U.S. companies are scaling back DEI programs
▼ + stars: | 2024-11-22 | by ( Delon Thornton | ) www.cnbc.com time to read: +1 min

Donald Trump's election has left some concerned that his policies could harm diversity, equity and inclusion initiatives, especially given some of his outspoken Cabinet picks and his interest in potentially dismantling the Department of Education. Though some companies are pulling back, many still view DEI as essential. DEI became a top priority for U.S. companies after the 2020 protests following George Floyd's murder. But in the past couple of years, some of these same companies like Google, Meta , Lowe's and Ford have scaled back their DEI initiatives, citing political pressure, high costs and economic uncertainty. Watch the video above to find out more about why some companies are pulling back from DEI initiatives.

Persons: Donald Trump's, Mary, Frances Winters, George Floyd's Organizations: of Education, The, Companies, Harvard Kennedy School, Fortune, McKinsey Institute, Google, Ford

☆ Elon Musk has never been richer. He’s now worth nearly $350 billion
▼ + stars: | 2024-11-22 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —The aftermath of the 2024 US presidential election has been a boon to Elon Musk. The richest person in the world got even richer Friday, with Musk’s net worth hitting a record $347.8 billion, Bloomberg reported. That beats his previous record set in November 2021, when the Tesla founder’s net worth exceeded $340 billion, according to the Bloomberg Billionaires Index. Musk, Tesla’s largest individual shareholder, is roughly $83 billion richer since Election Day, according to the Bloomberg Billionaires Index. As of Tuesday, Musk was more than $100 billion richer than the second richest person, Amazon founder Jeff Bezos.

Persons: Elon Musk, Trump, Donald Trump, Musk, Tesla, Vivek Ramaswamy, ”, Jeff Bezos, CNN’s Allison Morrow Organizations: New, New York CNN, Bloomberg, Tesla, SpaceX, Boring Company, “ Department, Government Efficiency, Wall Street Locations: New York

☆ Thanksgiving will be the on-ramp for films in 2025, says IMAX CEO Richard Gelfond
▼ + stars: | 2024-11-22 | 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 EmailThanksgiving will be the on-ramp for films in 2025, says IMAX CEO Richard GelfondRichard Gelfond, IMAX CEO, joins 'Squawk on the Street' to discuss the consumer shift back to movie theaters.

Persons: Richard Gelfond Richard Gelfond

☆ The case for altcoins and memes as bitcoin, now approaching $100,000, faces a potential correction
▼ + stars: | 2024-11-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

There are thousands of altcoins on the crypto market that are smaller, cheaper, younger and less sophisticated than the blue-chip bitcoin. "It has not been alone … crypto coins across the board have exploded higher in recent weeks. The riskiest business At the furthest end of the risk spectrum are meme coins like dogecoin , whose trading ballooned after the election . "I'd urge long-term investors to not place too much emphasis on meme coin activity — easy come, easy go," said Ryan Rasmussen, an analyst at Bitwise Asset Management. "While meme stocks such as Gamestop and AMC are a small part of the equity market, meme coins are a larger part of the crypto market and represent an outsized share of volume."

Persons: Gary Gensler, They've, bitcoin, Wolfe, Rob Ginsberg, it's, Mike Novogratz, Wolfe's Ginsberg, Donald, they've, Ryan Rasmussen, Zach Pandl, John Todaro, Robinhood, — CNBC's Michael Bloom Organizations: Securities and Exchange Commission, Trump, Galaxy Digital, Solana, Bitwise Asset Management, lotto, Grasycale Investments, Gamestop, AMC, Robinhood Locations: overbought, bitcoin

☆ Lindsay Lohan said she told Disney's CEO she deserved 2 paychecks for playing twins in 'The Parent Trap'
▼ + stars: | 2024-11-22 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +3 min

AdvertisementLindsay Lohan recalled a 1998 conversation about "The Parent Trap" with Michael Eisner when he was Disney's CEO. "The Parent Trap" made six times its budget of $15 million at the box office. Lindsay Lohan said she told Michael Eisner, the former Disney CEO, that he should've paid her twice for playing the Parker twins in "The Parent Trap." Lohan hasn't publicly disclosed how much she was paid for her dual roles in "The Parent Trap," leaving it unclear how much her quippy request represented. AdvertisementElsewhere in the interview with Cohen, Lohan also said she would only be open to a reboot of "The Parent Trap" if its director and co-writer Nancy Meyers were involved.

Persons: Lindsay Lohan, Michael Eisner, didn't, should've, Parker, Lohan, Hallie, Annie Parker, Andy Cohen, Eisner, Lohan hasn't, underpaid, Cate Blanchett, Andy Cohen's, Glen Powell, It's, Jamie Lee Curtis, Cohen, Nancy Meyers Organizations: Disney, Office Locations: Nancy

☆ Another US wholesale favorite is bumping its membership prices
▼ + stars: | 2024-11-22 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

AdvertisementThe wholesale chain BJ's said it would raise its membership fees in 2025. Its rival Costco raised its membership fees in September. Another wholesale retailer is planning to raise its membership fees. Related VideoIt said the new cost of a Club membership would be $60 annually, up by $5 from the current price, and a Club+ membership would cost $120, up by $10. The chain's rival Costco raised membership fees in September.

Persons: It'll, BJ's Wholesale, Robert Eddy Organizations: Costco, BJ's, Gold Star, Sam's

☆ DirecTV cancels agreement to merge with Dish
▼ + stars: | 2024-11-22 | by ( ) edition.cnn.com time to read: +1 min

US satellite TV provider DirecTV has terminated its agreement to acquire Echostar’s satellite television business, which includes rival Dish TV. The deal would have created one of the largest pay TV distributors in the United States, with a combined 20 million subscribers. As part of the transaction, DirecTV was to pay $1 to buy the pay TV business called Dish DBS, including Dish and Sling TV, with the assumption of about $9.75 billion of Dish’s debt. The proposed deal, initially announced in September, was seen as a strategic consolidation in a shrinking pay TV market. DirecTV and Dish have held on-and-off talks over the years.

Persons: Bill Morrow, Charlie Ergen Organizations: DirecTV, Dish TV, DBS, Dish Locations: United States

☆ Rents likely to come down in 2025, says Redfin CEO Glenn Kelman
▼ + stars: | 2024-11-22 | 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 EmailRents likely to come down in 2025, says Redfin CEO Glenn KelmanGlenn Kelman, Redfin CEO, joins 'Money Movers' to discuss home sales and the state of the housing market.

Persons: Glenn Kelman Glenn Kelman, Redfin

☆ How the news media is quietly preparing for a hostile second Trump administration
▼ + stars: | 2024-11-22 | by ( Brian Stelter | ) edition.cnn.com time to read: +6 min

“You can just tell by the nominees for cabinet positions and agency heads that this will be an administration of retribution,” Baron added. Trump’s impending return to power was a theme of the conversations at the Committee to Protect Journalists gala. Attendees discussed the need to report without fear or favor, to be open-minded but clear-eyed about what actions the Trump administration might take, and to avoid fearmongering but to consider a range of possibilities. Here are some of the specific concerns that have arisen among members of the media:In the second Trump term, legal threats and frivolous lawsuits could pile up, costing newsrooms money and time. The Trump administration could reinstate the Justice Department’s past practice of pursuing reporters’ records in leak investigations.

Persons: Joe Scarborough, Mika Brzezinski’s, Donald Trump, Brzezinski, Trump, Joe ”, Marty Baron, ” Baron, Jodie Ginsberg, they’re, newsrooms, Trump’s, Jessica Lessin, ”, it’s, ” Lessin, Jacob Weisberg, Matt Egan, ” Poynter, Kelly McBride, “, leakers, nix, CNN’s Liam Reilly Organizations: New, New York CNN, MSNBC, Scarborough, Washington Post, ”, Protect Journalists, Committee, Newsroom, “ Journalists, Trump, Media, TV, Nonprofit, Social, Republicans Locations: New York, Mar

☆ Salesforce CEO Benioff rips Microsoft's AI efforts. Here's why we're not picking sides
▼ + stars: | 2024-11-22 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

In the emerging AI software battle between Microsoft and Salesforce , investors do not need to pick a side. The announcements came roughly one year after the tech giant launched a suite of AI assistant tools called Microsoft 365 Copilot. Both companies leaning into AI agents is notable because Salesforce CEO Marc Benioff has not been hesitant to attack Microsoft's competing AI offerings. Salesforce stock is up 28% year to date versus Microsoft's roughly 9% gain since the start of 2024. I don't want to go against Microsoft," Jim said.

Persons: Jim Cramer, —, Marc Benioff, Benioff, who's, Satya Nadella, Nadella, They're, We've, Salesforce, Slack, Agentforce, Jim, it's, Jim Cramer's, Salesforce's Dreamforce, Justin Sullivan Organizations: Microsoft, Deutsche Bank, Club, CNBC, Getty Locations: Agentforce, Salesforce's, Mulesoft, San Francisco , California

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin tests $100,000 heading into the weekend: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Bitwise CEO Hunter Horsley shares his thoughts on the crypto rally and whether he sees a correction coming soon.

Persons: explainers, Hunter Horsley Organizations: CNBC Crypto, CNBC

☆ U.S. will take a light stance on regulating AI, says SandboxAQ CEO Jack Hidary
▼ + stars: | 2024-11-22 | 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 EmailU.S. will take a light stance on regulating AI, says SandboxAQ CEO Jack HidaryJack Hidary, SandboxAQ CEO, joins 'Money Movers' to discuss Nvidia and how AI will perform under Trump's administration.

Persons: Jack Hidary Jack Hidary Organizations: Nvidia

☆ Holiday shopping season sales will continue into next quarter, says Tanger CEO
▼ + stars: | 2024-11-22 | 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 EmailHoliday shopping season sales will continue into next quarter, says Tanger CEOStephen Yalof, Tanger CEO, talks the state of retail and the consumer ahead of the holidays.

Persons: Stephen Yalof

☆ One of the world's richest families plans to create Paris's next big soccer success
▼ + stars: | 2024-11-22 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

"There is an anomaly in French football and in Parisian football, that it is probably the only big city in Europe with only one big football club. France's billionaire Arnault family, owners of luxury group LVMH and one of the richest dynasties on the planet, is preparing to secure majority ownership of minor soccer club Paris FC — but sees any sporting turnaround as a long-term aim. Antoine Arnault speaks to the media during the Paris FC press conference at Groupe ADP – Centre d’entrainement Paris FC on November 20, 2024 in Orly, France. Asked by CNBC whether he saw Paris FC as a potential challenger, Arnault said: "That would be very immodest of us, to even compare ourselves to Paris Saint-German. Arnault told CNBC that if his family wanted a "trophy asset," they would have looked elsewhere.

Persons: Arnault, CNBC's Charlotte Reed, Red Bull, Antoine Arnault, Bernard Arnault, Bull, Germain, We're, Jürgen Klopp, Ryan Reynolds, Rob McElhenney Organizations: Paris FC, Associated Press, CNBC, Leipzig, Austria's, Paris FC —, Groupe ADP –, d’entrainement Paris FC, Qatari, titans Paris Saint, French, Paris Saint, League, Champions League, Liverpool, Premier League, Welsh, Wrexham AFC —, Bull Locations: Europe, Paris, Austria's Salzburg, Orly, France, English, Leipzig, Salzberg

☆ Jaguar boss speaks out after backlash to the car brand's latest ad campaign — which didn't include any cars
▼ + stars: | 2024-11-22 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +4 min

AdvertisementJaguar defended its rebranding campaign after online critics roasted a promotional video. The campaign, featuring models and no cars, was criticized as "woke." Jaguar's managing director is defending the British luxury-car maker's rebranding campaign — calling out some of its online critics and characterizing their reaction as "vile hatred" and "intolerance." (Most 2024 Jaguar models have list prices of about $50,000 to $80,000.) In response to the video posted on X by Jaguar, Musk wrote : "Do you sell cars?"

Persons: Jaguar's, Rawdon Glover, Brad Audet, —, Glover, India's Tata, Elon Musk, Andrew, Tristan Tate, Ian Miles Cheong, Musk, Nick Freitas, Bud Light, Bud, it's Organizations: Financial Times, Mazda, North America, Jaguar, Rover, Land Rover, India's, India's Tata Motors, Tesla, Republican, Delegates Locations: Virginia

☆ Watch CNBC’s full interview with SandboxAQ CEO Jack Hidary
▼ + stars: | 2024-11-22 | 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 EmailWatch CNBC’s full interview with SandboxAQ CEO Jack HidaryJack Hidary, SandboxAQ CEO, joins 'Money Movers' to discuss Nvidia and how AI will perform under Trump's administration.

Persons: Jack Hidary Jack Hidary Organizations: Nvidia

☆ How Elon Musk’s plan to slash government agencies and regulation may benefit his empire
▼ + stars: | 2024-11-22 | by ( Magdalena Petrova | ) www.cnbc.com time to read: +2 min

Some of his ventures already benefit tremendously from federal contracts. SpaceX has received more than $19 billion from contracts with the federal government, according to research from FedScout. Musk, who has frequently blamed the government for stifling innovation, could also push for less regulation of his businesses. Musk and Ramaswamy also championed the large-scale auditing of agencies, calling out the Pentagon for failing its seventh consecutive audit. To learn how else Elon Musk and his companies may benefit from having the ear of the president-elect watch the video.

Persons: Elon, Geoff Orazem, Vivek Ramaswamy, Trump, Ramaswamy, Elon Musk, Lora Kolodny Organizations: Company, SpaceX, Trump, Republican, Department of Government, Street, Congress, Pentagon, CNBC Locations: FedScout

☆ Trump might name Kevin Warsh as Treasury chief then Fed chair later, report says
▼ + stars: | 2024-11-22 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

President-elect Donald Trump is considering naming Kevin Warsh as Treasury secretary then ultimately sending him off to serve as Federal Reserve chair, according to a Wall Street Journal report. The speculation comes with Treasury being the last major Cabinet position for which Trump has yet to state his intention. Among the potential scenarios would be one where Bessent would lead the National Economic Council initially then go over to Treasury after Warsh takes over at the Fed. However, Trump is known for the propensity to change his mind, and the report noted that nothing has been finalized. Read the full Wall Street Journal story here.

Persons: Donald Trump, Kevin Warsh, Warsh, Jerome Powell's, Trump, Marc Rowan, Scott Bessent Organizations: Wall, Fed, Treasury, Apollo Global Management, National Economic Council

☆ ResMed expands Singapore operations to address obstructive sleep conditions
▼ + stars: | 2024-11-22 | 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 EmailResMed expands Singapore operations to address obstructive sleep conditionsMick Farrell, CEO of medical equipment maker ResMed, says the company is pouring "tens of millions of dollars" into expanding its Singapore operations as it aims to help 500 million people sleep better with its devices.

Persons: Mick Farrell Locations: Singapore

☆ Citadel's Ken Griffin considers selling minority shares whilst handing out political advice to Trump
▼ + stars: | 2024-11-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, billionaire Ken Griffin has some advice for President-elect Donald Trump, including a suggestion for his Treasury pick . While speaking Thursday at the Economic Club of New York, Griffin said he appreciates the importance of those issues to Americans but said aggressive tactics to address them could make things work. Griffin is one of the biggest donors to the Republican Party, but declined to publicly endorse either presidential candidate this year. AdvertisementModeration hasn't been the name of the game for Trump with some of his proposed policies. AdvertisementHe said he'd be open to selling a minority stake in his hedge fund to the right partner.

Persons: it's, Ken Griffin, Donald Trump, Trump Ken Griffin, Mike Blake, Insider's Bradley Saacks, Michelle Abrego, Griffin, Manny Roman, Trump, Marc Rowan, Rowan, Alexander Tamargo, Thoma Bravo Griffin, he'd, Zalubowski, Chelsea Jia Feng, Elon, Paul, Tyson, Megyn Kelly, Tucker Carlson Ron Antonelli, Chip Somodevilla, Rebecca Zisser, Tucker Carlson, Bari Weiss, BI's Peter Kafka, Chris Balfe, Ridley Scott's, You've, Dan DeFrancesco, Jack Sommers, Grace Lett, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Treasury, Trump, Citadel, Milken, Global Conference, Reuters, Economic, of New, Republican Party, Citadel Securities, Sequoia, Millennium Management, BlackRock, Chelsea, Getty, Netflix, Bank of America, NY Daily, Fox News, Auto, Ford, GM, Volkswagen Locations: Beverly Hills , California, U.S, of New York, Montreal, New York, London, Chicago

☆ CLEAR CEO says new ‘face first’ technology will make airport lines shorter
▼ + stars: | 2024-11-22 | by ( Jackson Loo | ) edition.cnn.com time to read: 1 min

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