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☆ Top stocks to play the future of energy from an investor managing a $5 billion Vanguard fund
▼ + stars: | 2024-03-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +8 min

The Vanguard Energy Fund originated in 1984 and until Levering arrived, it had focused for more than three-decades on oil, gas and coal investments. "My view was that's fossil fuel energy — that's not energy," Levering told CNBC in an interview. Levering took over the Vanguard fund in 2020 as the Covid-19 pandemic had effectively shut down the global economy. Levering said the Vanguard Energy Fund is structured to remain resilient and deliver returns through its hybrid approach, regardless of the macroeconomic turns the world takes. European oil majors The Vanguard Energy Fund remains heavily weighted toward oil and gas companies.

Persons: Tom Levering, Levering Organizations: Vanguard Energy Fund, CNBC, Vanguard, Wellington Management, U.S, Congress, Invesco, Utilities, Duke Energy, Shell, BP Locations: Covid, Russia, Ukraine, French, Southern

☆ An abrupt exit at a Goldman Sachs-backed crypto bank spotlights the industry's tug-of-war with regulators
▼ + stars: | 2024-02-26 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +13 min

Read previewWhen the chief executive of cryptocurrency startup Anchorage Digital posted a message in the company's "announcements" Slack channel in late November about an executive's departure, employees started buzzing. Just over a year after it received the charter, the OCC issued a consent order against Anchorage in April 2022. Regulators are aggressively scrutinizing crypto players and prioritizing monitoring crypto compliance. Regulators' viewThe OCC is now led by Michael Hsu, the former Federal Reserve regulator and self-described crypto skeptic who has viewed crypto companies' regulatory compliance in some areas as inadequate. A crypto bank would face risks in safeguarding digital assets in its custody, maintaining appropriate hedges in crypto-lending, and adhering to capital requirements specific to crypto assets, said Kim, who studies crypto and blockchain technology.

Persons: —, Georgia Quinn, Nathan McCauley's, McCauley, Goldman Sachs, Andreessen Horowitz, Quinn, Brian Brooks, CoinDesk, Oliver Wyman, FTI, Brooks, Michael Hsu, Hsu, Evelyn Hockstein, Mark duBose, Seoyoung Kim, University's, Kim, Diogo Mónica, Axel Springer, Mark McCombe, Max Levchin, BNY, Seyfarth Shaw, Ellenoff Grossman, it's Organizations: Service, Anchorage, Business, Citadel Securities, Apollo Global Management, Visa, OCC, Regulators, Securities, Exchange, IBM, KPMG, Anchorage Digital Bank National Association, Federal Reserve, Reuters, Business Insider, Santander Bank, University's Leavey School of Business, KKR, BlackRock, BNY Mellon Locations: Anchorage, United States, Santa, San Francisco, Portugal

(AP) — Republicans hoping to pick up an open U.S. Senate seat in deep blue Maryland have the most competitive candidate they've fielded for decades. She supports abortion rights unequivocally and said she probably will back a candidate who doesn't hedge. Photos You Should See View All 33 ImagesHogan has said he does not support taking abortion rights away, even though he personally opposes abortion. “For eight years, we proved that the toxic politics that divide our nation need not divide our state," Hogan said. The state approved legislation in 1991 to protect abortion rights if the Supreme Court were to allow abortion to be restricted.

Persons: they've, Larry Hogan, Hogan, Lynn Johnson Langer, ” Langer, ”, don’t, Langer, Mileah Kromer, “, that’s, ” Hogan, Donald Trump, Roe, Wade, Mary Kfoury, that's, Kfoury, Kromer, it’s, Larry Hogan Won, Sen, Ben Cardin pounced, Angela Alsobrooks, Prince George's County, Rep David Trone, Alsobrooks, Wes Moore's, Robin Ficker Organizations: —, Senate, U.S, Maryland, Democrat, Republicans, Democratic Party, Goucher College, Trump, Republican, Blue State Republican, GOP, Prince, Democratic, Rep, CNN, Voters, Catholic, Democratic Gov, Washington's NBA Locations: ANNAPOLIS, Md, U.S, Maryland, U.S ., Annapolis, Edgewater , Maryland, Prince George's, Alsobrooks, Landover , Maryland

☆ Why Alexey Navalny's death is unlikely to change Congress' Ukraine aid quagmire
▼ + stars: | 2024-02-16 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

Read previewLeaders in both parties vowed that Russian President Vladimir Putin must pay for the death of famed opposition leader Alexey Navalny. It's unclear though how their tributes will translate into tangible action, especially on Congress' long-delayed push to send more aid for Ukraine's defense. House Speaker Mike Johnson said in a statement that international leaders "must be clear that Putin will be met with united opposition." While it's true that the foreign aid bill could garner 218 votes, getting the bill on the floor is another matter entirely. Ukraine aid still hasn't passed.

Persons: —, Vladimir Putin, Alexey Navalny, Mike Johnson, Putin, Johnson, Donald Trump, Marjorie Taylor Greene, Kevin McCarthy, hasn't, McCarthy, Matt Gaetz, Trump, Matt Glassman, Glassman, It's, there's, Volodymyr Zelensky, Schumer, Churchill Organizations: Service, Business, Georgia Republican, Ukraine, GOP, California Republican, Florida Republican, Georgetown University's Government Affairs Institute, Republicans, Trump, Republican Locations: Ukraine, United States, Baltic, Georgia, California, Florida, Mexico, Mexican

☆ BlackRock loses top infrastructure investor to Manulife amid executive shakeup
▼ + stars: | 2024-02-06 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +5 min

Valentine Andrews, 52, will report to Lorentz and lead the firm's "next era of private markets growth," he wrote. She will remain in New York City, where Manulife's private equity and private credit teams are based. Valentine Andrews joined BlackRock in 2014 from Morgan Stanley, where she spent seven years and helped establish the firm's infrastructure-investing platform. She previously worked at Macquarie Bank, the firm known for its infrastructure investments, in Melbourne and New York. "I like to think about living life in chapters," Valentine Andrews wrote in a post on LinkedIn last month.

Persons: CQS, Anne Valentine Andrews, Paul Lorentz, Valentine Andrews, Lorentz, Angelo Gordon, Nuveen, BlackRock, Edwin Conway, Salim Ramji, Vipon, Brian Kernohan, Marc Feliciano, Morgan Stanley Organizations: Manulife Investment Management, Business, BlackRock, Manulife, Investment, Global Infrastructure Partners, TPG, Macquarie Bank, LinkedIn Locations: Toronto, Massachusetts, Manulife, New York City, Melbourne, New York

☆ A fund manager who has beaten 99% of his peers over the last decade breaks down how he finds value investments where others don't, and the 2 sectors he's looking for opportunities in this year
▼ + stars: | 2024-02-03 | by ( Mark Reeth | ) www.businessinsider.com time to read: +8 min

Consistently beating the competition over a decade and a half is a sign that Bill Nygren is worth listening to. Instead, he uses good old-fashioned value investing techniques that have proven reliable for decades, even as they've evolved. Nygren added: "It's clearly not a value stock, but when you make those adjustments it sells at less than a market multiple. Advertisement2 sectors to invest in right nowThe average investor would be forgiven for looking around the market right now and struggling to find value. Advertisement"And I think value investors have been a natural home for a lot of the financial industry because the industry's typically traded at something like three-quarters of the S&P multiple," Nygren said.

Persons: Bill Nygren, Nygren, there'd, you've Organizations: Oakmark, Oakmark Fund, Business, Big Tech, Capital, Intercontinental Exchange, American International Group, AIG

☆ How a Law School Student at N.Y.U. Spends Her Sundays
▼ + stars: | 2024-02-03 | by ( Alix Strauss | ) www.nytimes.com time to read: +1 min

She is a dual-degree graduate student at New York University, where she attends both its business and law schools. “I’m always in need of sleep, but I’m OK with sacrificing sleep,” said Ms. Scott, 26, who grew up in Harlem. “I wanted to help other Black women have an easier, better experience than I had,” she said. “Most people are like, ‘It’s crazy you’re doing all of this,’ but they’re not surprised knowing who I am. I’m surpassing society’s expectations of me.”Ms. Scott lives in a two-bedroom apartment in campus housing in NoHo in Manhattan.

Persons: Talia Scott, “ I’m, ”, Scott, “, they’re, Ms Organizations: New York University Locations: Harlem, Black, NoHo, Manhattan

☆ For investors who scored big on Meta, a way to protect those profits and generate income
▼ + stars: | 2024-02-02 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +3 min

Meta Platforms (META) , formerly known as Facebook, is setting new highs following an absolute blowout earnings report and dividend initiation. META 1Y mountain Meta, 1-year For clarity, this is not a bearish view on Meta. Meta was my largest 2023 holding in the Essential 40 Stock Fund (ESSIX) portfolio that I manage. DISCLOSURES: (Long FB, sold call spread) THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: Meta Organizations: Facebook, Meta, RSI, FB

☆ CNBC Pro Talks: From AI to U.S.-China rivalry, one CIO shares how — and where — to invest
▼ + stars: | 2024-01-24 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

From electric vehicles, artificial intelligence and geopolitics, opportunities are seized by looking at disruptive changes in the global economy, according to Kingsley Jones of boutique advisory firm Jevons Global. Jones is bullish on the usual Big Tech names, but says they're "boring." "This year our attention has turned to under-valued growth stocks that are natural beneficiaries of AI," he added. To discover more on the themes — and stocks and ETFs — that Jones likes, join CNBC Pro Talks on Thursday, Jan. 25, at 6:30 a.m. BST / 2:30 p.m. SGT / 1:30 a.m. Learn more from our previous Pro Talks: Portfolio manager explains why he has the 'most conviction' in this China tech stock Fund manager reveals the one energy stock to buy right now Forget Tesla.

Persons: Kingsley Jones, Jevons, Koulouris, Jones, Goldman Sachs Organizations: U.S, Big Tech, CNBC, BYD Locations: China

☆ The Best Stock Funds of 2023
▼ + stars: | 2024-01-13 | by ( Lawrence Strauss | ) www.wsj.com time to read: 1 min

Large-cap companies led the way in 2023, benefiting the money managers who believed in them. Driven by a rebound in large and megacap stocks, in particular the “Magnificent Seven” technology companies, mutual-fund managers who saw double-digit losses in the market rout in 2022 found themselves rewarded for their patience this past year.

☆ Bitcoin ETFs have a key difference from their stock fund counterparts
▼ + stars: | 2024-01-12 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The U.S. Securities and Exchange Commission pushed for bitcoin exchange-traded funds to have a key difference from major stock funds, and that decision's effect on how the funds trade will only become clear over time. The bitcoin funds that launched Thursday are using a share redemption process that turns the underlying crypto into cash. Most ETFs primarily use an in-kind redemption process, where the underlying asset does not have to be actually sold. There is some concern that using the cash-only redemption model could make the plumbing of the ETFs less efficient. Using cash-only redemption could result in ETFs that have weaker liquidity and wider bid-ask spreads, Grayscale argued.

Persons: Bryan Armour, Steven McClurg, McClurg, Jeremy Senderowicz, Vedder Price, Gary Gensler, Senderowicz Organizations: U.S . Securities, Exchange Commission, North America, Morningstar, SEC, APs, CNBC PRO Locations: bitcoin

☆ Meet the portfolio manager who oversees the best performing stock fund this year
▼ + stars: | 2023-12-29 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Alex Umansky is the man behind the best performing equity mutual fund this year. Baron Fifth Avenue Growth (BFTIX) , with nearly $500 million in assets under management, has rallied more than 58% this year, taking the No.1 spot for a winning stock fund in 2023, according to Morningstar. Umansky, who's been in the industry for 30 years, is the sole portfolio manager for the fund. Umansky's fund seeks to find long-term, durable growth opportunities in the large-cap space. The manager also has a long-term approach to growth investing where he views a stock as a piece of the business.

Persons: Alex Umansky, who's, Morningstar, Umansky Organizations: Baron, Nasdaq, New York University, Nvidia, Tesla

☆ Wall Street opens wallets wide for 'Trump alternative' Nikki Haley at $500K fundraiser
▼ + stars: | 2023-12-05 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Attendees were asked to give between $3,300 and $16,600 per person to Team Stand for America, a joint fundraising committee benefiting her campaign, according to the invitation. A spokesman for Elliot did not return requests for comment. Chambers, Rosenkranz, a representative for for JPMorgan and a spokeswoman for AQR did not return requests for comment. A spokeswoman for the Haley campaign did not return requests for comment. Haley is trailing Trump nationally by around 50 percentage points, according to a Real Clear Politics polling average.

Persons: Nikki Haley, Haley, Donald Trump, Campbell Brown, Dan Senor, Paul Singer, Annie Dickerson, Singer's, Steve Cohen, Singer, Cliff Asness, Kristin Lemkau, Robert Rosenkranz, Ray Chambers, Lemkau, Jamie Dimon, Asness, Brown, Eric Levine, they're, Levine, Elliot, Chambers, AQR, Ken Langone, Democratic megadonor Reid Hoffman Organizations: Republican Party, Bluffton SC, Former U.S, United, New York, Wall Street, Facebook, Elliot Investment Management, Elliot Management, Politico, AQR Capital Management, JPMorgan, Delphi Capital Management, NHL's New Jersey Devils, New York Times, CNBC, Hamas, America, Trump, Home Depot, Democratic, Haley Locations: Bluffton, United States, New, Iowa, New Hampshire, South Carolina, NHL's, New York

☆ Target date funds: What are they and should you invest in one?
▼ + stars: | 2023-12-02 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

New York CNN —If you are in a 401(k) plan at work, you very likely have the option to invest in a so-called target date fund, which also may be called a retirement date fund or a lifecycle fund. At the end of 2020, the vast majority of plans (86%) offered target date funds, and 59% of 401(k) participants had money invested in one. Typically a target date fund is a “fund of funds” – meaning its portfolio is made up of both stock funds and bond funds selected by the manager. It is especially critical in your 50s to revisit your fund’s glide path to (and possibly after) the fund’s retirement date. “If you’re an overanalyzer or overthinker, or you don’t want to worry about it, target date funds are for you,” Sharick said.

Persons: Madison Sharick, Madi, Bryan Minogue, Minogue, fund’s, Sharick, Stacy Miller, ” Miller, “ it’s, –, ” Sharick Organizations: New, New York CNN, Research Institute, Kardinal Locations: New York, U.S, Tampa , Florida

☆ As global rates turn, banks in India and Indonesia set to win
▼ + stars: | 2023-11-29 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Loan growth at Asian banks is estimated to rise from 4.5% this year to 10% next year, LSEG data shows, with banks in India and Indonesia leading with 15% and 11% growth, respectively. Ng likes banks in India and Indonesia, given the better economic growth in those economies and ability of banks to sustain margins. LSEG data shows profits at banks in India and Indonesia will grow 13% and 11% respectively next year, nearly double the 6% average rise across Asia-Pacific banks. That compares to price-to-book ratio for MSCI's index for all-country Asian banks (.dMIAS0CB00PUS) of 0.9. Banks in Australia are estimated to see a drop of 5% in profit in 2024 while profits at Singapore banks will be flat.

Persons: Frederic Neumann, Neumann, Morgan, Yao Ng, abrdn, Ng, Vinay Agarwal, Agarwal, Morgan Stanley, Ankur Banerjee, Gaurav Dogra, Patturaja, Vidya Ranganathan, Simon Cameron, Moore Organizations: U.S . Federal, Fed, HSBC, ICICI, Kotak Mahindra Bank, Axis Bank, FSSA Investment Management, Indonesia's Bank Central Asia, BCA, Reuters, Thomson Locations: SINGAPORE, India, Indonesia, Thailand, Asia, Japan, J.P, Pacific, Singapore, Hong Kong, South Korea, Banks, Australia, China, Bengaluru

☆ How to make your money work for you over the next decade
▼ + stars: | 2023-11-28 | by ( James Faris | William Edwards | ) www.businessinsider.com time to read: +16 min

"If there is a regime shift, then what has worked could be quite different from what does work," McLennan said. That means the growth stocks that dominated for years may come back to earth in the mid-2020s. He also recommends that investors diversify away from growth stocks that thrived under low rates and instead broaden out to value-oriented names. Valuations explain 80% of a stock's returns over a decade, according to Bank of America. Smead sees energy in stocks in Canada also outperforming in the coming decade, as well as European banks.

Persons: —, Peter Bates, Rowe Price, Damanick Dantes, We're, Dantes, you've, He's, Matt McLennan, McLennan, Kimball Brooker, Morningstar, Nicola Stafford, Stafford, it's, Molina, Bates, Russell, Cole Smead, that's, Phillip Colmar, Colmar, Bob Doll, Doll, Smead, Michael Sheldon, Sheldon, who's, there's, Chris Chen, Chen, Roth Organizations: Service, Business, Global, International, McLennan, First Eagle Global Fund, Eagle Investments, Goldman, Asset Management, Stock, Molina Healthcare, Vanguard Value, Healthcare, Bank of America, Comerica Wealth Management, MRB Partners, Canadian, Crossmark Global Investments, BlackRock, Energy, P Bank ETF, RDM Financial, Social Security, Social, Insight Financial, Trust, IRA Locations: Canada, Colmar, United States, Canadian, Europe, Treasuries

These include plans by ArcelorMittal , the world's second-largest steelmaker, to spend 2.5 billion euros to decarbonise its German steel mills, efforts that depend on now-uncertain government support. "What we're seeing here is devastating for Germany as a business location globally. Besides the 6 billion euros of steel investments, other sectors potentially affected by the court ruling include 4 billion euros in the area of microelectronics and 20 billion euros for battery cell production, according to an economy ministry paper seen by Reuters. Those have previously been estimated at 68 billion euros. "Important industries in Germany, such as chemicals or steel production, need economical energy prices," Oliver Blume, CEO of Europe's top carmaker Volkswagen (VOWG_p.DE), told Frankfurter Allgemeine Zeitung.

Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Reiner Blaschek, Chancellor Olaf Scholz, Stefan Rauber, Intel INTC.O, Taiwan's, Bernhard Osburg, Oliver Blume, Christoph Steitz, Tom Kaeckenhoff, Andreas Rinke, Catherine Evans Organizations: Climate, Finance, ArcelorMittal, SHS Stahl, Reuters, IMF, Intel, TW, Infineon, Steel, BASF, Wacker Chemie, Volkswagen, Frankfurter Allgemeine Zeitung, Thomson Locations: FRANKFURT, DUESSELDORF, Berlin, Germany, Asia, United States, U.S, USA, Steel Europe

☆ Stephen Mandel's Lone Pine Capital hedge fund bet big on this Mag 7 stock in latest quarter
▼ + stars: | 2023-11-16 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Steve Mandel's Lone Pine Capital opened a huge stake in Meta during the third quarter, regulatory filings show. META YTD mountain Meta shares in 2023 Meta is now the Connecticut-based fund's largest single holding, according to InsiderScore. Lone Pine also opened a big position in Alphabet during the period, valued at slightly more than $400 million. Elsewhere, Lone Pine raised its Amazon stake nearly 12% in the three-month period, after slashing it 26% in the second quarter. Outside of big tech, Lone Pine made some adjustments to financial services stocks.

Persons: Steve Mandel's, Julian Robertson, Mandel's, Lone Pine, Pine, Mandel, Lone, Tempur Sealy Organizations: Steve Mandel's Lone, Steve Mandel's Lone Pine Capital, Meta, Tiger Cubs, Securities and Exchange Commission, Google, Microsoft, Lone Pine, Nvidia, Mastercard, Body, & & $ Locations: Steve Mandel's Lone Pine, Connecticut, Lone, Tempur

☆ A top portfolio manager explains why growth stocks will thrive in 2024 — and names 6 companies that are set to outperform
▼ + stars: | 2023-11-16 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Leading fund manager Kimberly Scott doesn't think a recession will kill the market's momentum. US stocks caught fire in late October and have now nearly recovered from a three-month-long selloff that started in August. Still, Scott said she expects the US economy to keep growing in 2024 as earnings growth accelerates once again. If price growth retreats to normal levels, Scott said growth-oriented stocks should outperform in 2024. 6 top stocks to own in 2024After sharing her optimistic view about earnings and the economy, Scott listed six stocks she's bullish on heading into 2024.

Persons: Kimberly Scott doesn't, Scott's, it's, Scott, Nathan Brown, Bradley Halverson, she's, Wall, They've Organizations: Business, Investors, Reserve, Delaware, Companies, Consumer

☆ Here's what Britain's venture capital limited partners are backing: men
▼ + stars: | 2023-11-07 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

The institutional investors plying Britain's venture capital sector with cash have a penchant for backing funds owned entirely by men. All-male-owned firms raised 10 times more capital than funds owned by their female counterparts between 2017 and 2023, according to a report by impact fund Ada Ventures. A similar disparity was found among mixed-gender funds, which raised almost five times less than the male-owned funds. Those firms raised around 6.6 billion pounds during that period. Venture capital's diversity issues are well documented but there has been a slew of women leaving the industry this year.

Persons: VCs, Ekaterina Alamasque, Warner, Alamasque Organizations: Ada Ventures, Diversity, Google, Venture, Partners, Women

☆ A doping free-for-all Enhanced Games calls itself the answer to doping in sports. Opponents say it poses a danger to health
▼ + stars: | 2023-10-30 | by ( Molly Stazicker | ) edition.cnn.com time to read: +23 min

The Enhanced Games is the brainchild of businessman Aron D’Souza. Aron D'Souza is the founder of the Enhanced Games. But that isn’t the only potential legal jeopardy the Enhanced Games faces, according to American lawyer Jim Walden, who represents Russian whistleblower Grigory Rodchenkov. “If you look at the Enhanced Games website, it’s almost as though they’re advertising their disregard of the law,” Walden told CNN Sport. If it goes ahead as planned in December 2024, D’Souza insists that the Enhanced Games will unlock the potential of humanity.

Persons: Dr, Grigory Rodchenkov, –, Rodchenkov, Oscar, Aron D’Souza, ”, D’Souza, “, Raphael Faiss, Faiss, WADA, they’re, Aron D'Souza, ” WADA, Travis Tygart, Jim Walden, ” Walden, Alex Wong, ” Rodchenkov, USADA’s Tygart, ” D’Souza, he’d, “ They’re, Ben Johnson, Johnson, Mike Powell, Pierre de Coubertin –, Ben Johnson –, Eugene, Simona Halep, – Faiss, CNN Roxadustat, Michele Verroken, ” Verroken, Verroken, Hamish Coffey, ’, Brett Fraser, ” Fraser, “ I’ve, I’ll, Jess Ennis, Hill, CNN D’Souza, Trevor Painter, ” Painter, John William Devine, ” Devine, don’t, Martial Saugy Organizations: CNN, Olympics, ”, Testing Agency, ITA, International Olympic Committee, Olympic Games, IOC, CNN Sport, Netflix, Doping Agency, Research, University of Lausanne, United, United States Anti, US Drug Enforcement Administration, FBI, Sports, Gaming Initiative, “, Games, Seoul, London Games, Bettmann, Athletics Integrity Unit, National Institutes of Health, Sporting Integrity, Australian Olympic, Olympic, United States Patent, Sciences, Swansea University Locations: Paris, United States, Seoul, South Korea, Eugene , Oregon, Cayman Islands, Tokyo, Wales

☆ Black entrepreneurs, business leaders say conservative legal challenges could hinder progress
▼ + stars: | 2023-10-28 | by ( Nicquel Terry Ellis Cnn | ) edition.cnn.com time to read: +8 min

Trigg-Jones said she applied for funding from grant groups, venture capital funds and investors, but most of them denied her. Late last month, a federal appeals court granted the Alliance’s motion to temporarily block the Fearless Fund from awarding grants exclusively to Black women entrepreneurs. Black business leaders told CNN the lawsuits, if successful, could stand to undo decades of progress toward leveling the playing field for Black and brown people in the workplace and small business sector. According to a 2019 report from American Express, Black women are the fastest growing demographic of entrepreneurs in the country. Black business owners are turned down for loans at a rate three times higher than White business owners, according to a 2020 analysis of small businesses by Goldman Sachs.

Persons: Cathleen Trigg, Jones, –, you’re, ” Trigg, Edward Blum, Blum, Fearless, ” Blum, “, Goldman Sachs, Arian Simone, ”, AAER “, Rashae Barnes, Barnes, ” Barnes, Kaycea Campbell, ” Campbell, Lenwood Long, —, Long, CNN’s Jaide Timm, Garcia, Isabel Rosales, Tami Luhby Organizations: CNN, Trigg, American Alliance for Equal Rights, Civil, American Express, “, Evals Equity, Pierce College Los Angeles, Federal, Consumer Finances, African American Alliance of Community Development Financial, Black Locations: New York, PitchBook, White

☆ Sam Bankman-Fried could take stand at fraud trial over FTX collapse
▼ + stars: | 2023-10-26 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court as lawyers push to persuade the judge overseeing his fraud case not to jail him ahead of trial, at a courthouse in New York, U.S., August 11, 2023. Bankman-Fried has pleaded not guilty and maintained that while he made mistakes running FTX, he never intended to steal funds. They say Alameda looted FTX funds through special trading privileges on the exchange. Cohen said the defense plans to call three brief witnesses before Bankman-Fried takes the stand. Reporting by Luc Cohen in New York; Editing by Noeleen Walder and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Eduardo Munoz, Fried, Mark Cohen, Bankman, Mark Troiano, Cohen, FTX, Luc Cohen, Noeleen Walder, Jonathan Oatis Organizations: REUTERS, Alameda Research, Thomson Locations: New York, U.S, Alameda, Manhattan

A sign directing towards electric vehicle charging points is seen in a car park in Manchester, Britain, September 8, 2023. In its first major position paper on the topic, UK Finance also told the country's political parties that more clarity is needed on the path to a net zero economy to help financial markets muster the huge amounts of capital needed. In April, the government estimated it would need an additional 50 billion pounds-60 billion pounds ($61 billion-$73 billion) of capital investment a year through the late 2020s and 2030s to meet its net zero targets. UK Finance, which represents around 300 firms, set out a series of recommendations to marshal pools of capital which are currently "underused" due to "policy gaps". An independent body could be asked to monitor and provide updates on public and private capital flows, it added.

Persons: Phil Noble, Ian Bhullar, Huw Jones, Simon Jessop, Sharon Singleton Organizations: REUTERS, Finance, European Union, Zero, Reuters, UK Finance, Labour Party, Thomson Locations: Manchester, Britain, Europe

[1/4] Maria Corina Machado, candidate of the Vente Venezuela party for the opposition primaries and Freddy Superlano, leader of the Voluntad Popular party, raise their arms as they pose for pictures after a press conference, in Caracas, Venezuela October 13, 2023. The primary is the first held by Venezuela's opposition in over a decade. Favorite Maria Corina Machado is barred from holding public office, in a move criticized by the opposition and the U.S alike, and it is not clear what will happen if she wins the primary. Two other candidates - former presidential candidate Henrique Capriles and ex-lawmaker Freddy Superlano - have already withdrawn their candidacies because of similar disqualifications. The U.S. government has conveyed to Maduro bans must be lifted for all opposition presidential candidates by the end of November in exchange for sanction relief, a senior U.S. official said on Wednesday.

Persons: Maria Corina Machado, Freddy Superlano, Leonardo Fernandez, Nicolas Maduro, Henrique Capriles, MARIA CORINA MACHADO, Machado, CARLOS PROSPERI Prosperi, Prosperi, Solorzano, Deisy Buitrago, Vivian Sequera, Mayela Armas, Oliver Griffin, Marguerita Choy Organizations: REUTERS, Voters, U.S, World Bank, Inter, American Development Bank, International Monetary Fund, Accion Democratica, Criminal Court, United Nations, Thomson Locations: Venezuela, Caracas, CARACAS, U.S, Guarico

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