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Search resuls for: "Josephine Rozzelle"


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Trump Media shares fell as much as 15% in extended trading on Thursday after a New York jury found former President Donald Trump guilty on all 34 felony counts of falsifying business records in his criminal hush money trial. The stock, which trades under the ticker "DJT," recovered slightly as trading continued, but remained down about 9% in the early evening. The former president owns 65% of the company's shares. Trump Media, which owns the Truth Social app, merged with shell company Digital World Acquisition Corp. in late March. Trump Media reported a net loss in the first quarter of $327.6 million on less than $1 million in revenue.
Persons: Donald Trump Organizations: Trump Media, New, Corp Locations: New York
The meeting is part of the Republicans' impeachment inquiry into President Joe Biden. The co-chairman of a super PAC supporting Robert F. Kennedy, Jr.'s presidential campaign announced plans Tuesday to publish a tell-all memoir this summer by an Arkansas woman who had a child with Hunter Biden, the youngest son of President Joe Biden. "Out of the Shadows: My Life Inside the Wild World of Hunter Biden" is written by Lunden Roberts, who gave birth to Hunter Biden's daughter in 2018. Roberts' memoir will be published by Skyhorse Publishing, a company whose president, Tony Lyons, is a co-founder of the pro-Kennedy super PAC American Values 2024. Lyons said a press release that Roberts' memoir contains "revelations that could well impact the outcome of the 2024 election."
Persons: Hunter Biden, Joe Biden, Robert F, Kennedy, Jr, Lunden Roberts, Hunter Biden's, Biden —, , Roberts, Biden, Tony Lyons, AV24, Lyons, Skyhorse, Alex Jones, Sen, Ted Cruz, Donald Trump, Nancy Pelosi Organizations: Skyhorse Publishing, Kennedy, Skyhorse, PAC, CNBC, Democratic, Calif, Republican, NBC Locations: O'Neill, Washington ,, Arkansas, Texas, Iraq
The Federal Deposit Insurance Corp. failed to report allegations of senior officials' misconduct in a timely manner, according to a new memo from the agency's internal watchdog. The Office of Inspector General "learned of several allegations of misconduct regarding senior FDIC officials that were not reported to the OIG in a timely manner," said the letter, dated Thursday. "The OIG is now reviewing these allegations to determine how they should be incorporated into OIG work plans." A scathing independent report published in April found a widespread culture of harassment and discrimination at the FDIC, citing allegations from more than 500 FDIC employees. "The FDIC has failed to provide a workplace safe from sexual harassment, discrimination, and other interpersonal misconduct," the report concluded.
Persons: Martin Gruenberg, Jennifer Fain, Gruenberg, General, Fain, Gruenberg —, Joe Biden, , Republican Travis Hill, Biden Organizations: Federal Deposit Insurance Corporation, Financial, Federal Deposit Insurance Corp, FDIC, FDIC's, Republican, GOP, Financial Services, White Locations: Washington , DC
Sen. Sherrod Brown, D-Ohio, on Monday called on President Joe Biden to replace Federal Deposit Insurance Corporation Chairman Martin Gruenberg after allegations of widespread sexual harassment and misconduct within the agency. There "must be fundamental changes at the FDIC," Brown, who chairs the Senate Committee on Banking, Housing, and Urban Affairs, said in a statement. With his statement, Brown broke from fellow Democrats, who have largely condemned the allegations but refrained from pushing for Gruenberg's resignation, instead calling for him to drive changes at the agency. Law firm Cleary Gottlieb in April released a scathing report detailing an alleged culture of "sexual harassment, discrimination, and other interpersonal misconduct" at the FDIC. In one instance, Gruenberg allegedly screamed profanities at employees after they delivered bad news, the report said.
Persons: Sen, Sherrod Brown, Joe Biden, Martin Gruenberg, Brown, Cleary Gottlieb, Gruenberg Organizations: Federal Deposit Insurance, FDIC, Banking, Housing, Urban Affairs, Senate, Biden, Employees Locations: Ohio
Attorney John Eastman, the architect of a legal strategy aimed at keeping former President Donald Trump in power, gets out of an SUV to talk to reporters after a hearing in Los Angeles, Tuesday, June 20, 2023. The attorney John Eastman pleaded not guilty Friday in the Arizona case charging him and other allies of former President Donald Trump with crimes related to their attempt to undo his 2020 election loss in the state to President Joe Biden. Eastman is the first of 18 defendants in the case to be arraigned in a state courthouse in Phoenix. Arraignments of the other defendants, including former Trump House chief of staff Mark Meadows and former Trump lawyer Rudy Giuliani, are scheduled for the coming weeks. Eastman, Meadows, Giuliani, and more than a dozen other people — including Trump — are separately charged in Georgia state court crimes connected with their efforts there to undo Trump's 2020 defeat.
Persons: John Eastman, Donald Trump, Joe Biden, Eastman, Mark Meadows, Rudy Giuliani Organizations: Trump House, Trump, Eastman Locations: Los Angeles, Arizona, Phoenix, Meadows, Giuliani, Georgia
Associate Supreme Court Justice Clarence Thomas arrives for the swearing-in ceremony of Neil Gorsuch as an Associate Supreme Court Justice in the Rose Garden of the White House, Washington, D.C., April 10, 2017. Two leading Democratic senators are pressing Supreme Court Justice Clarence Thomas to say whether he repaid a wealthy friend any of the principal for a $267,230 loan he used to buy a luxury motorhome. The letter to Thomas's lawyer, dated Tuesday, raises questions about potential tax violations by the conservative justice, who is the longest-serving member of the Supreme Court. Democrats point to reports that his wife, Ginni Thomas, took part in efforts to overturn the results of the 2020 election. The Supreme Court heard arguments in Trump's immunity appeal on April 25, with Thomas on the bench.
Persons: Clarence Thomas, Neil Gorsuch, Ron Wyden, Sheldon Whitehouse, Thomas, Anthony Welters, Prevost Le, Wyden, Elliot Berke, Whitehouse, Justice Thomas, Welters, Berke, ProPublica, Harlan Crow, Harlan, Donald Trump, Ginni Thomas Organizations: Justice, White House, D.C, New York Times, Finance Committee Locations: Rose, Washington, Welters
Rep. Jamie Raskin (D-MD) speaks during a House Committee on Oversight and Accountability hearing on Capitol Hill in Washington, DC, on September 28, 2023. The House Oversight Committee's top Democrat asked oil executives to reveal whether former President Donald Trump had proposed a "quid-pro-quo" arrangement to them at a recent Florida fundraising dinner, according to letters released Tuesday by Rep. Jamie Raskin, D-Md. The letters arose from a Washington Post report that Trump hosted the executives for dinner Apr. "You all are wealthy enough," Trump reportedly told the assembled guests. Raskin asked the executives to provide descriptions of any discussions related to policy proposals or campaign finance they had at the dinner, as well as any efforts by the CEOs' respective companies to support Trump's campaign.
Persons: Jamie Raskin, Donald Trump, Trump, Raskin Organizations: Capitol, Democrat, Washington Post, Mar, Biden Locations: Washington ,, Florida, Gulf of Mexico
TikTok creators gather before a press conference to voice their opposition to the "Protecting Americans from Foreign Adversary Controlled Applications Act," pending crackdown legislation on TikTok in the House of Representatives, on Capitol Hill in Washington, U.S., March 12, 2024. Eight TikTok creators sued the U.S. government Tuesday to block the recently passed law that forces ByteDance to divest of the social media app or face a ban, arguing that the law violates the First Amendment, an attorney representing the group said in a post on X. In the filing shared by attorney Davis Wright Tremaine, the group says that the law, which gives TikTok parent ByteDance nine months to find a buyer for the app, "undermines the nation's founding principles and free marketplace of ideas." The law "promises to shutter a discrete medium of communication that has become part of American life, prohibiting Petitioners from creating and disseminating expressive material with their chosen editor and publisher," the lawsuit says. TikTok itself sued the United States last week over the legislation, also invoking a free speech argument in its suit.
Persons: ByteDance, Davis Wright Tremaine, TikTok Organizations: Foreign, Capitol, U.S, United Locations: Washington , U.S, United States
TikTok is starting to automatically label videos and images made with artificial intelligence, the company said on Thursday. AI-generated content on the app will now be tagged with "Content Credentials," a digital watermarking technology from the Coalition for Content Provenance and Authenticity, TikTok said in a press release. "Content Credentials attach metadata to content, which we can use to instantly recognize and label [AI-generated content]," TikTok said. TikTok already labels content made with its in-app AI effects and requires creators to label any content they produce containing realistic AI. This latest move will expand automatic labeling to AI-generated content uploaded from other platforms.
Persons: TikTok, OpenAI, Joe Biden Organizations: Coalition, Adobe, Microsoft, Meta, Google, U.S . Locations: U.S, Culver City , California
A new ETF designed to shield investors from the risk of market volatility starts trading on Wednesday. The Calamos S&P 500 Structured Alt Protection ETF (CPSM) promises to deliver investors "100% downside protection" against the index's losses over a one-year outcome period, according the firm's news release. Investors in the fund are subject to limits on the extent to which they can capture gains tied to the S&P 500 . It's a fully funded options package that delivers the upside of the S&P 500 to a cap with 100% capital protection over a 365-day outcome period," he said. "Then at the end of that year, the options reset, stay in the ETF and keep on going."
Persons: Calamos, Matt Kaufman, CNBC's, Kaufman, It's
Investors looking to weather a volatile market may want to opt for physical gold over gold stocks. That's according to George Milling-Stanley, one of the world's experts in gold and the chief gold strategist at State Street Global Advisors. "One of the reasons I own gold bar(s) is that I believe it offers me some protection against potential weakness in the equity market," Milling-Stanley told CNBC's "ETF Edge" this week. "When the equity market goes down, gold mining stocks remember that they're equities, and they tend to go down with the general level of the equity market. Milling-Stanley's firm runs two exchange-traded funds that track the performance of the spot price of gold: the SPDR Gold Shares ETF (GLD) and SPDR Gold MiniShares Trust (GLDM).
Persons: George Milling, Stanley, CNBC's, they're, GLDM, Organizations: State Street Global Advisors, MiniShares, Milling
Why Goldman Sachs is helping its clients launch ETFs
  + stars: | 2024-04-01 | by ( Josephine Rozzelle | ) www.cnbc.com   time to read: +3 min
Investor demand for exchange-traded funds is not slowing down, and firms without ETF offerings may risk losing business, according to one Goldman Sachs expert. "Any number of our clients would tell you, the opportunity cost of not [offering ETF products] is greater," he recently told CNBC's "ETF Edge." To help clients through the process of launching their own ETF products, Goldman Sachs created its ETF Accelerator, a digital platform that helps clients launch, list and manage their own ETF products. The idea was it made it easier to launch an ETF, but it didn't make it easy," Sachs said. It can still take years to build the expertise, headcount and risk management framework necessary to launch an ETF, said Sachs.
Persons: Goldman Sachs, Steve Sachs, Sachs, Brandes Organizations: Eagle, Equity, Quality, Brandes Investment Partners, Value, International, Eagle Capital
A major exchange-traded fund provider is going deep on two popular plays: megacap tech and weight loss drug stocks. "It's going to be important to kind of keep an eye on this space," Mazza told CNBC's "ETF Edge" this week. They are the Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) and the Roundhill Daily Inverse Magnificent Seven ETF (MAGQ). MAGX is designed to profit from "Magnificent Seven" gains, which comprises Alphabet , Amazon , Apple, Meta Platforms , Microsoft , Nvidia and Tesla . "These are tools that can be used for traders who have short-term views on the Magnificent Seven — both positive and negative to express that view," said Mazza.
Persons: Dave Mazza, Mazza, CNBC's, they're, They're Organizations: Investments, Apple, Microsoft, Nvidia, Tesla
The top holdings of many ESG funds may be surprisingly familiar. ESG funds also tend to be more heavily invested in technology stocks because the sector is one of the "cleaner" industries, according to former VettaFi financial futurist Dave Nadig. But Noack considers the idea that ESG funds only invest in clean, sustainable sectors as misleading. Global ESG funds saw their first net quarterly outflows on record in the fourth quarter of 2023, according to Morningstar. However, Nadig points out while financial advisors may have pulled back from recommending ESG funds to clients, investor interest hasn't gone anywhere.
Persons: DWS Group's Arne Noack, CNBC's, Dave Nadig, Nadig, Noack, hasn't, It's Organizations: Americas, Equity, Nvidia, Amazon, Microsoft, Apple
Investor sentiment toward intermediate-term Treasury bonds may be changing. "So, they're looking to reposition the fixed-income portion of their portfolio to take advantage of where interest rates are likely to go next." It's a shift from last year when short-term bonds and money market funds saw large inflows. "Taking on some duration risk makes sense, but I wouldn't go too far out on the curve," he said. "The risk-return dynamics [of] getting too far out on the long end don't make a ton of sense to me."
Persons: David Botset, you'll, Nate Geraci Organizations: Federal
Big Tech's market dominance may push more investors to equal-weight exchange-traded funds, according to VettaFi's Todd Rosenbluth. Rosenbluth lists the Invesco S&P 500 Equal Weight ETF and the Invesco S&P 500 Equal Weight Technology ETF as options for investors who want to reduce exposure to the "Magnificent Seven." "You own the same companies that you'd find within the S&P 500 or in the technology sector. But instead of being dominated by Apple and Microsoft and Nvidia, you spread that risk around to the other companies," Rosenbluth said. CNBC's Magnificent 7 Index, which is comprised of Apple, Alphabet, Meta , Microsoft , Amazon , Nvidia and Tesla , soared almost 6% Friday.
Persons: VettaFi's Todd Rosenbluth, Rosenbluth, BNY Mellon's Ben Slavin, CNBC's Organizations: Nasdaq, Apple, Microsoft, Nvidia, Big Tech, Tesla
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