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Some retailers "promoted deeper as weekend progressed versus 2023's cadence," analyst Simeon Siegel wrote to clients in a Monday note. Siegel's comments come as investors and analysts try to determine which brands or retailers are outperforming this year, particularly as the holiday shopping season hits its stride. However, Siegel did provide a list of names that went further into discounts than was anticipated as the weekend went on. That means the company may have "underperformed its initial hopes for the outset of the holiday selling," the analyst said. After that run, the typical analyst sees shares slipping by 3% over the next 12 months, according to LSEG.
Persons: Simeon Siegel, Siegel, — Siegel, Nordstrom Organizations: BMO Capital Markets, Brands, Navy, LSEG Locations: Banana Republic
AdvertisementA KLM Boeing 777 flying from the Netherlands to South America turned around over the Atlantic Ocean. A KLM plane U-turned over the Atlantic Ocean, leaving passengers with a four-hour flight to nowhere . The Boeing 777 left Amsterdam for Paramaribo, the capital of the small South American nation of Suriname on Sunday. But two hours into the journey and around 900 nautical miles from Amsterdam, the Boeing 777 turned around over the ocean and headed back. In late October, a British Airways Boeing 777 developed a problem over the Atlantic.
Persons: It's, São Paulo Organizations: KLM Boeing, KLM, Boeing, Amsterdam Schiphol Airport, Aviation Herald, Business, American Airlines, British Airways Boeing, Air Locations: Netherlands, South America, Suriname, Amsterdam, Paramaribo, American, Dutch, Brazil, Miami, London, Air France, Canada's
AdvertisementHugging Face's CEO predicts the first major AI protest and market disruptions in 2025. While people are preparing their New Year's resolutions, one AI company CEO has a different habit: locking in his predictions for what will happen in the industry in 2025. Clement Delangue, CEO of the $4.5 billion startup Hugging Face, laid out six predictions for AI in the new year. Related storiesPersonal AI robotsWith companies including Tesla and Jeff Bezos-backed Physical Intelligence already developing AI robots, Delangue predicts that these robot assistants will soon be available in the mass market. China will lead the AI raceWith the US and China battling it out for AI dominance, Delangue predicts that "China will start to lead the AI race."
Persons: Clement Delangue, Fabrice Beaulieu, Delangue, Klarna, Jeff Bezos, Elon Musk, Peggy Johnson, China's, Qwen2, Google's, Demis Hassabis, John Jumper, Hassabis Organizations: Delangue, Intelligence, Robotics, GXO Logistics, Baidu Locations: China
AdvertisementSpaceX is reportedly in talks to sell shares, a deal that would boost its valuation to around $350 billion. SpaceX is currently in talks to sell insider shares in a deal that would value the private company at around $350 billion, Bloomberg reported Monday, citing sources familiar with the potential sales. If the $350 billion valuation is realized, it would be double what the company was reportedly selling shares at one year ago. In December 2023, Bloomberg reported SpaceX shares were being sold at a $175 billion valuation. The outlet previously reported SpaceX shares were being sold at a $210 billion valuation in June and at $255 billion just last month.
Persons: Elon, Donald Trump, Trump Organizations: SpaceX, Elon Musk's, Bloomberg, Business, Department of Government Efficiency
CNN —Kieran Culkin didn’t “make his family disappear,” but he’s definitely been withholding some aspects of it. Turns out Culkin’s children with wife Jazz Charton, daughter Kinsey, 5, and son Wilder, 3, have never watched the holiday classic “Home Alone,” which is surprising given that it made their uncle Macaulay Culkin a child star. “There’s still some scary parts,” Kieran Culkin explained. And Culkin believes the time may have arrived for his children to watch his sibling take his star turn. I’m like, ‘You don’t remember any of that.’”Macaulay Culkin shares two young sons with his long term partner, actress Brenda Song.
Persons: Kieran Culkin didn’t “, Jazz Charton, Kinsey, Wilder, Macaulay Culkin, “ There’s, ” Kieran Culkin, , Culkin, , , ’ ” Macaulay Culkin, Brenda Song Organizations: CNN, “ Entertainment Locations: New York City, Europe
Intel CEO Pat Gelsinger speaks while holding a new chip, called Gaudi 3, during an event called AI Everywhere in New York, Thursday, Dec. 14, 2023. Intel shares fell more than 5% on Tuesday, a day after the embattled chipmaker announced the ouster of CEO Pat Gelsinger, whose four-year tenure was marred by market share losses and a major miss in artificial intelligence. At the same time, Intel has refocused much of the company into becoming a foundry, manufacturing processors for other chipmakers. "A lot of the problems recently have been caused by the insistence on the foundry business," Chris Danely, an analyst at Citi Research, told CNBC's "Money Movers" on Monday. Danely added that "the clock started ticking on Pat" when the foundry business showed significant margin shrinkage over the summer.
Persons: Pat Gelsinger, Gaudi, David Zinsner, MJ, expeditiously, Gelsinger, Frank Yeary, Cantor, Bob Swan, Chris Danely, CNBC's, They're, Gelsinger's, , Rohan Goswami, Kif Leswing Organizations: Intel, chipmaker, Nvidia, Devices, Citi Research Locations: New York
U.S. Steel — Shares dropped 8.6% Tuesday, the day after President-elect Donald Trump said he would stop Japan's Nippon Steel from buying the Pittsburgh steelmaker. Zscaler — The cloud security company posted in-line guidance for its fiscal second quarter revenue that disappointed investors, sending shares more than 3.5% lower. PSQ Holdings — Shares surged 89% after Bloomberg News, citing people familiar with the matter, reported Donald Trump Jr. could join the board of PSQ Holdings as soon as Tuesday. South Korean stocks — U.S.-listed shares of South Korean stocks slumped after the country's president declared martial law. FedEx — The Memphis-based package delivery company slipped 3.3% after being downgraded at Bernstein to market perform from outperform.
Persons: Donald Trump, Redburn, LSEG, Zscaler, Donald Trump Jr, Cleanspark, Tesla, Elon Musk's, Bernstein, OLLI, Mgmt, Jesse Pound, Sarah Min, Hakyung Kim, Pia Singh, Michelle Fox Organizations: . Steel, Nippon Steel, Pittsburgh, Holdings, PSQ Holdings, Bloomberg, Revenue, U.S, South, Korea ETF, Franklin FTSE, Franklin FTSE South Korea ETF, FedEx —, Wells Locations: Delaware, Korea, Franklin FTSE South, Memphis, Wells Fargo
An outside CEO would break from tradition at the chipmaker, which has historically promoted from within. While Gelsinger was hired from VMware in 2021, he had spent decades at the company in roles of increasing seniority. Interim executive chair Frank Yeary and a board-level committee are overseeing the search for a new CEO, Intel disclosed in a regulatory filing, and the process remains in its early stages. Intel's board may opt for an internal promotion, and internal candidates could include CFO David Zinsner or Intel products chief MJ Holthaus, the interim co-CEOs. Gelsinger will receive roughly $10 million in severance, Intel disclosed in a regulatory filing.
Persons: Pat Gelsinger, Spencer Stuart, Tan, Gelsinger, Bob Swan, Swan, Marvell, Matt Murphy, Frank Yeary, David Zinsner, MJ Holthaus Organizations: Intel, VMware, Bloomberg, Reuters, Nvidia
New York CNN —Intel may have ousted CEO Pat Gelsinger, but he’s leaving the company with a significant payday. He’s set to receive 18 months of his base annual salary of $1.25 million, according to a filing with the Securities and Exchange Commission. Gelsinger also owns roughly 646,000 shares in Intel as of a November regulatory filing. On Monday, Intel announced Gelsinger would resign after his difficult tenure in the company contributed to its stock cratering from missing out on the AI boom that boosted much of its rivals. Once an iconic American tech giant, Gelsinger had to turn around a company that was facing unprecedented competition, production delays and the departure of top talent.
Persons: Pat Gelsinger, He’s, He’ll, that’s, Gelsinger, CNN’s Clare Duffy, David Goldman Organizations: New, New York CNN, Intel, Securities and Exchange Commission, VMWare Locations: New York
Why your employer might love for you to quit
  + stars: | 2024-12-03 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +7 min
It’s also true, however, that sometimes they would like at least some employees to quit, and not just the underperformers whom they’d otherwise like to fire. When employers might welcome your leavingThere are a myriad reasons why an employer might push people to quit. It’s worth checking, too, if the employment laws in your state impose any other restrictions on the employer. … Poor management is not illegal,” said Brian Heller, an employee-side attorney and partner at Schwartz Perry & Heller in New York. The only leverage you have in this kind of situation is not to quit, since quitting is what your employer wants, Heller noted.
Persons: can’t, It’s, Jesse Meschuk, Donald Trump, , Elon Musk, Vivek Ramaswamy, Trump, ” Meschuk, Meschuk, Joy Webb, Merritt Webb, you’ve, doesn’t, Chris Williams, You’re, Williams, I’m, Brian Heller, Schwartz Perry, Heller, , Webb Organizations: CNN, Fortune, White, of Government, Wall Street, Microsoft Locations: overhiring, North Carolina, New York
AdvertisementDamage to two internet cables caused outages in Finland, GlobalConnect said. The severance of two overland fibreoptic cables that carry internet data between Sweden and Finland has raised fears of sabotage. AdvertisementHowever, after the recent severance of subsea cables in the Baltic, Sweden said it suspected foul play. It comes after two subsea cables, one carrying data between Germany and Finland and another between Sweden and Lithuania, were severed in late November. At the time, Finnish and German officials said at the time that they suspected the damage was caused by sabotage.
Persons: GlobalConnect, Putin, Lulu Ranne, Niklas Ekström, Carl, Oskar Bohlin Organizations: Transport, Communications, Reuters, Swedish Civil Defence Locations: Finland, Sweden, Baltic, Russia, Espoo, Helsinki, Vista, Germany, Lithuania, China
A little more than four years ago, the Supreme Court delivered a surprise victory to L.G.B.T.Q. Rejecting the position of the Trump administration, the court ruled by a lopsided margin that a federal civil rights law protected transgender people from workplace discrimination. In the intervening years, transgender rights have become a ferocious battleground in the culture wars, and controversies over health care, bathrooms, sports and pronouns played a prominent role in the presidential campaign. But the Supreme Court has had only glancing encounters with such issues since the employment discrimination case in 2020, which featured a majority opinion from Justice Neil M. Gorsuch, Mr. Trump’s first appointee to the court. That will change on Wednesday, when the court hears its second major case on transgender rights, a challenge to a Tennessee law that prohibits some medical treatments for transgender youths.
Persons: Trump, Neil M, Gorsuch, Trump’s Locations: Tennessee
Self-made billionaire Ray Dalio has a three-step recipe for success — and it's one anyone can use, he wrote in a LinkedIn post on Sunday. Second, figure out how to realistically achieve them. Figuring out how to realistically achieve your goals includes setting reasonable expectations for what success might look like, he wrote. "I don't care whether you want to be a master of the universe, a couch potato, or anything else—I really don't," wrote Dalio, who has an estimated $14 billion net worth, according to Forbes. "Some people want to change the world and others want to operate in simple harmony with it and savor life.
Persons: Ray Dalio, , Forbes Organizations: Bridgewater Associates
In May 2021, Google announced it had agreed to participate in a $1.2 billion cloud computing contract with the Israeli government and military, saying it was “delighted to have been chosen to help digitally transform” the country. But four months earlier, officials at the company had worried that signing the deal, called Project Nimbus, would harm its reputation, according to documents prepared for executives that were reviewed by The New York Times. Google’s lawyers, policy team employees and outside consultants — who were asked to assess the risks of the agreement — wrote that since “sensitive customers” like Israel’s Ministry of Defense and the Israeli Security Agency were included in the contract, “Google Cloud services could be used for, or linked to, the facilitation of human rights violations, including Israeli activity in the West Bank.”The files, which have not been previously reported on, showed that despite Google’s public defense of Nimbus over the last three years, the company once had concerns about the contract similar to those of some employees, who have argued that it pulled Google into a long conflict between Israelis and Palestinians.
Persons: , , Nimbus Organizations: Google, The New York Times, Israel’s Ministry of Defense, Israeli Security Agency, West Bank
UK Export Finance helps ethnic minority-led businesses win, fulfill, and get paid for international business by providing guarantees, insurance and loans to support export activities. UK Export Finance (UKEF) is the UK government's export credit agency. UKEF can help ethnic minority-led businesses through its network of regional Export Finance Managers (EFMs) based around the UK. Once a business has an export plan in place, UK Export Finance can make it a reality by providing finance support. Supporting ethnic minority-led businesses to access export financeEthnic minority-led businesses contribute £25 billion to the UK economy per year, according to research from the Federation of Small Business.
Persons: Hitesh Patel, EFMs, Alissia Deane, Patel, Deane, they're, it's Organizations: Export Finance, UKEF's Export Insurance, Department for Business and Trade, Federation of Small, UK Finance, Research, The British Business Bank, London Chamber of Commerce, Venture Capital, UKEF, Department for Business, Trade, UK Export Finance, Insider Studios Locations: London, West Yorkshire, DBT, UKEF
But Kremlin-affiliated and pro-war accounts aren't playing ball, independent Russian media reported. A new analysis found that only 10 of the top 82 political pro-government Telegram channels had registered. Nearly 90% of Russia's top pro-war Telegram channels have been ignoring a government directive to identify themselves in an official registry, per an analysis by independent media outlet Vertska. But the move was originally unpopular with pro-Kremlin military bloggers, who often maintain anonymity and sometimes post analyses and criticism of Russian war leaders. Vyacheslav Volodin, the chairman of Russia's State Duma, runs the most popular registered channel.
Persons: Vladimir Putin, Vertska, Rybar, Ramzan Kadyrov, Dmitry Medvedev, Sergei Sobyanin, Boris Rozhin, Cassad, Dmitry Nikotin, Vyacheslav Volodin, Roskomnadzor Organizations: Kremlin, Security Council, Russian Defense, Duma, Business, YouTube Locations: Russia, Russian, Moscow's, Washington, Ukraine, Moscow
In this article SYFBFHJPMBARC-GBCCOF Follow your favorite stocks CREATE FREE ACCOUNTA customer uses a credit card to pay for items January 28, 2022 at a retail shop in New York City. Synchrony and Bread raised the annual percentage rates, or APRs, on their portfolios by an average of 3 to 5 percentage points, according to Sakhrani. Some pain, no gainThe CFPB says the credit card industry profits off borrowers with low credit scores by charging them onerous penalties. In March, the agency introduced a rule to cap late fees at $8 per incident, down from an average of about $32. While the rule is currently held up in courts, card users are already dealing with the higher borrowing costs and fees attributed to the regulation.
Persons: Robert Nickelsberg, Banks, Sanjay Sakhrani, Perry Beberman, We've, Beberman, Athleta Organizations: Getty, Verizon, JCPenney, Consumer Financial, CNBC, U.S . Chamber of Commerce, Federal Reserve Bank of New, Citigroup, Barclays, JPMorgan Chase, American Express, Banana Locations: New York City, Federal Reserve Bank of New York, Stamford , Connecticut, Banana Republic
AdvertisementDOGE is set to scrutinize multibillion-dollar federal loans to two Tesla rivals. Vivek Ramaswamy said the cost-cutting body would "carefully scrutinize" loans to Stellantis and Rivian. Vivek Ramaswamy said DOGE will investigate a federal loan worth about $7.5 billion to a Tesla rival. Vivek Ramaswamy, who was tapped to lead a "Department of Government Efficiency" (DOGE) alongside Tesla CEO Elon Musk, called the Stellantis loan "illegitimate" and said it should be rescinded. Ramaswamy's comments will add to fears that Musk, who runs companies including Tesla and SpaceX, could use DOGE to interfere with rivals and regulators.
Persons: Vivek Ramaswamy, Biden, Elon Musk, Donald Trump's, Musk, Trump, Ramaswamy Organizations: Samsung, Trump administration's, Department of Government, Tesla, Republican, Department of Energy, SpaceX, Dodge, Citroen, Ford, General Motors, DOGE, Business Locations: Indiana, Georgia
She also recently filed a trademark application for a product called "Popular Vodka by Unwell." The filing suggests Cooper could soon be the latest celebrity to launch an alcohol brand. A recent trademark application from the "Call Her Daddy" host's company — TRNDG IP, LLC. — suggests she's looking to launch a vodka venture. Celebrity-backed alcohol brands have been a popular product trend for years, from Kendall Jenner's tequila brand 818 to Ryan Reynolds' Aviation American Gin.
Persons: Alex Cooper, Cooper, didn't, Kendall, Ryan Reynolds, influencers, Alix Earle, Harry Jowsey, Madeline Argy Organizations: US, Aviation
For many younger South Koreans, President Yoon Suk Yeol’s short-lived declaration of martial law late Tuesday night was their first exposure to a kind of turbulence that older generations remember all too well. Since South Korea was founded in 1948, a number of presidents have declared states of military emergency. The most recent — and the most notorious, perhaps — came after the 1979 assassination of President Park Chung-hee, a former general who had occasionally used martial law himself to crack down on political protests and opposition since seizing power in 1961. Soon after Mr. Park was killed, a general, Chun Doo-hwan, staged his own coup. In May 1980, he declared martial law, banning all political activities, closing schools and arresting dissidents.
Persons: Yoon Suk, , Park Chung, Park, Chun Organizations: South, Mr Locations: South Korea, Gwangju
The Biden administration on Tuesday moved to end a program that had for decades allowed companies to pay workers with disabilities less than the minimum wage. The statute, enacted as part of the Fair Labor Standards Act of 1938, has let employers obtain Labor Department certificates authorizing them to pay workers with disabilities less than the federal minimum wage, currently $7.25. The department began a “comprehensive review” of the program last year, and on Tuesday it proposed a rule that would bar new certificates and phase out current certificates over three years. “This proposal would help ensure that workers with disabilities have access to equal employment opportunities, while reinforcing our fundamental belief that all workers deserve fair competition for their contribution,” Taryn Williams, assistant secretary of labor for disability employment policy, said on a call with reporters. As of May, about 800 employers held certificates allowing them to pay workers less than minimum wage, affecting roughly 40,000 workers, said Kristin Garcia, deputy administrator of the Labor Department’s wage and hour division.
Persons: Biden, ” Taryn Williams, Kristin Garcia Organizations: Fair Labor, Labor
See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Mortgage RatesAverage 15-year mortgage rates have been hovering in the high 5% range, according to Zillow data. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Mortgage rates are still elevated, but over time they should ease as the Fed lowers rates.
Persons: we'll, Freddie Mac Organizations: Federal Reserve, Fed, Mortgage Research Center, Mortgage, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs Locations: Chevron
For roughly a decade after that first auction, he continued to broker deals the conventional way — for American sellers, Aussie-style auctions were a tough sell. Real-estate auctions are a time-honored tradition in Australia, dating back more than 200 years to its days as a British colony. But in times of healthy demand for homes, auctions can deliver benefits for sellers looking to ride out the frenzy. "I don't think the American consumer is ready for auctions yet," says Rob Hahn, the CEO of Decentre Labs, a company he started in 2022 to bring online real-estate auctions to the masses. The biggest beneficiaries, Duby tells me, may just be real-estate agents: When buyers and sellers are shuffled through this murky process, they'll look for a professional guide.
Persons: Evan Duby, Duby, Sellers, haven't, Kenneth Lusht, they've, Tim Quirk, Quirk, — Quirk, Mike Russo, , Rob Hahn, Hahn Organizations: nab, eBay, Pennsylvania State University, Auction.com, Decentre Labs Locations: Brooklyn, Australia, Melbourne, British, New South Wales, Victoria, Massachusetts, Bethesda , Maryland, American, States
Stock market trading has been acutely sensitive to economic data in the post-Covid era, with the averages moving sharply on upside and downside surprises. The first test if that holds true: Friday's nonfarm payrolls report for November that Bank of America recommends market participants "tread carefully" when assessing due to noisy data. "The market has never been this reactive to macro data as it has post-COVID. Like the October report, BofA expects the payrolls release to be noisy because of impacts from storms in the Southeast and a Boeing strike. The firm sees an above-consensus 240,000 jobs created, with 100,000 built in from the reversal of the storm and strike impacts.
Persons: Donald Trump, Ohsung Kwon, Trump, Kwon, BofA, Dow Jones Organizations: of America, Boeing Locations: Wall, Canada, Mexico, U.S
Now it's worth much less, and it has been scrambling to solve a looming $124 million debt problem. That seems likely to come to a head this week, and may require the company to sell assets like "Hot Ones," its interview show. That's because today is the day that BuzzFeed could be on the hook for $123.5 million in debt and interest payments — money that it doesn't appear to have. AdvertisementIt is possible that BuzzFeed has a plan to deal with debt — by selling off assets, or renegotiating a deal with its creditors, or both. It's also worth noting that BuzzFeed doesn't necessarily have to pony up all $124 million today.
Persons: BuzzFeed, I've, Vivek Ramaswamy, cochair, Trump, Ramaswamy, Jonah Peretti, Peretti, It's, Organizations: Bloomberg, Netflix, News, Huffington Locations: BuzzFeed
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