DIRS.INFO The most relevant business & tech news

☆ Milan’s Via Monte Napoleone is now the world’s most expensive shopping street
▼ + stars: | 2024-11-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Milan’s Via Monte Napoleone has beat out New York’s Fifth Avenue to become the world’s most expensive shopping street, marking the first time a European city has topped the rankings. The Gucci store on Fifth Avenue in New York City, seen in March 2024. In April, Gucci parent Kering paid €1.3 billion ($1.4 billion) to acquire a building on Via Monte Napoleone from a subsidiary of Blackstone. The world’s 10 most expensive shopping locations, by rent per square foot, according to Cushman & Wakefield:1. Via Monte Napoleone, Milan2.

Persons: Thomas Casolo, ”, Gucci, Michael M, Robert Travers, Kering, Blackstone . Chanel, Versace, Cartier, Celine Organizations: London CNN, New, Cushman &, Bond, Hong, Cushman, Wakefield’s, Italy, CNN, Via, Blackstone ., Henley & Partners, Cushman & Wakefield, New Bond, Tsui, Pitt, Mall Locations: Napoleone, Cushman & Wakefield, Paris, New York City, Europe, East, Africa, Via Monte Napoleone, Bottega, Milan, New York, London, Hong Kong, Ginza, Tokyo, Bahnhoftstrasse, Zurich, Sydney, Myeongdong, Seoul, Kohlmarkt, Vienna

☆ Political and social division is driving interest in ‘golden visas’
▼ + stars: | 2024-11-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

Interest in so-called “golden visas” has skyrocketed among US citizens since the election, according to consultants that help the wealthy migrate. Golden visas allow people to effectively buy foreign citizenship or residence through sizable investments, including in real estate, government bonds or startups. Jc Milhet/Hans Lucas/AFP/Getty ImagesInquiries about golden visas from Americans have increased 33% so far this year compared with the same period last year, with programs in Europe the most sought after. Portugal’s Golden Residence Permit Program tops the popularity list because it is relatively affordable, requiring a minimum outlay of €250,000 ($265,000) in support of the arts or national cultural heritage. With golden visas out of reach for most Americans, social media platforms are ablaze with chatter about other avenues for moving abroad.

Persons: Donald Trump, ”, Dominic Volek, Armand Arton, “, Covid lockdowns, …, Jc Milhet, Hans Lucas, Portugal’s, Thomas Coex, Trump, ” Flannery Foster, “ I’ve, ” Foster, Foster, ’ Organizations: London CNN, Democratic, Henley & Partners, Arton, CNN, Getty, Union, Plaza Mayor, LGBT, Spanish Locations: Europe, Ollolai, Sardinia, Nigeria, South Africa, China, India, Philippines, United States, Valletta, AFP, Greece, Spain, Italy, Malta, Austria, €, Madrid, Reddit, USA

“We’re expecting this holiday period to be very consistent with that,” he said. Retailers, including Walmart, are contending with a mixed bag of factors this holiday season. The holiday season is also shorter this year and parts of the U.S. have had unseasonably warm weather, two dynamics that could hurt retailers. That would be lower than the 3.9% year-over-year jump from the 2022 to 2023 holiday season, when spending totaled $955.6 billion. Rainey said the holiday period is “off to a pretty good start.”He said items like TVs, Apple AirPods, Beats headphones and even tires have been selling.

Persons: John David Rainey, “ We’re, ”, “ They’re, Rainey, Walmart’s, Donald Trump’s, it’s, We’ve Organizations: Walmart, CNBC, LSEG, New York Stock Exchange, Sam’s, Walmart U.S, U.S, National Retail Federation, Apple Locations: U.S, China

☆ Students injured in China school crash as nerves fray over recent attacks
▼ + stars: | 2024-11-19 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +4 min

CCTV and other state media reported that the vehicle hit people outside a primary school in the city of Changde in Hunan province as students were coming in for the day. The scene after a car crashed outside a primary school in Changde, China, on Tuesday. Short video clips circulating on Chinese social media on Tuesday showed young children running into the Changde school compound, shouting, “Help.”One clip shows a compact, white SUV stopped beyond the school entrance. Reuters was able to verify that the location where the videos were shot matched the reported location of the crash at a primary school for children between about 6 and 12 years old. What has happened to society now?” said one commenter on social media platform Weibo.

Persons: “, ”, People’s Procuratorate, Ying Yong, Weiguo, ” Qu Organizations: Police, Reuters, Changde, AFP, Getty, Weibo, ” Police, Fudan University Locations: BEIJING, China, Changde, Hunan, Zhuhai, China’s Wuxi, Wuxi, Weibo

☆ German powerhouse Thyssenkrupp books $1 billion impairment on struggling steel unit
▼ + stars: | 2024-11-19 | by ( April Roach | ) www.cnbc.com time to read: +1 min

A general view of the gate of the Thyssenkrupp industrial area in Duisburg, Germany, on August 29, 2024. Germany's Thyssenkrupp on Tuesday reported a 1-billion-euro ($1.06 billion) impairment on its struggling steel division as the industrial powerhouse flagged "gloomy volume" expectations and structural challenges in the sector. The firm said its net loss of 1.5 billion euros in the fiscal year ending Sept. 30 — after deducting minority interest — was mainly due to asset impairments totaling around 1.2 billion euros, of which 1 billion euros were undertaken by its Steel Europe division. "In respect of our main strategic issues, the current fiscal year will be a year of decisions – especially for Steel Europe and Marine Systems," CEO Miguel Lopez said in the firm's Tuesday statement. "In parallel, we are seeking to further improve the performance of all our businesses and better leverage the opportunities presented by the green transformation."

Persons: Ying Tang, Germany's Thyssenkrupp, —, Miguel Lopez Organizations: Getty, Steel Europe, Marine Systems Locations: Duisburg, Germany

☆ 89% of Americans say they do not consider themselves wealthy — here's what stands in the way
▼ + stars: | 2024-11-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

High home prices and higher mortgage rates along with low inventory have put ownership just out of reach for many households. Jose Luis Pelaez Inc | Digitalvision | Getty ImagesAlthough vacationing has also gotten more expensive, Americans are still determined to travel. Rising debt is another threat to wealthAt the same time, rising consumer debt has weighed on household balance sheets. Nearly half, 44%, of Americans said credit card debt is the biggest threat to their ability to build wealth, according to a separate report by Edelman Financial Engines. "That stands in the way of people building actual wealth and therefore feeling wealthier," she said.

Persons: —, Freddie Mac, Jose Luis Pelaez, Jean Chatzky Organizations: Jose Luis Pelaez Inc, Deloitte, Edelman Financial, Federal Reserve Bank of New, CNBC Locations: Federal Reserve Bank of New York

☆ How Trump's rich Cabinet members could save millions thanks to a little-known tax break
▼ + stars: | 2024-11-19 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

AdvertisementTwo of the reported candidates for Treasury Secretary made their fortunes on Wall Street, including billionaire Apollo CEO Marc Rowan. Eligible federal appointees can defer capital gains taxes indefinitely when they sell stock or other assets in order to avoid a conflict of interest. As a top earner in New York, they would normally have to pay more than $3 million in capital gains taxes. The sum that would have been spent on capital gains taxes is now free to compound and grow. The IRS allows investors to defer capital gains taxes in other scenarios that are deemed outside their control.

Persons: Donald Trump's, Trump, Howard Lutnick, Cantor Fitzgerald, Major Trump, Chris Wright, Marc Rowan, Bush, Goldman Sachs, Henry Paulson, George H.W, Bob Willens, You've, Scott Bessent, frontrunners, eyeing Rowan, Kevin Warsh, Morgan Stanley, Warsh, Jane Lauder, Rowan, Ed Renn of Withersworldwide, Penny Pritzker, Mark Parthemer, Willens, Renn Organizations: Commerce, of Energy, Treasury, Executives, Columbia Business School, Federal Reserve, Government, IRS Locations: George H.W . Bush, New York

☆ Goldman warns these defense stocks could take a hit from Trump spending cuts
▼ + stars: | 2024-11-19 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Shares of some aerospace and defense companies could fall under added pressure from President-elect Donald Trump's reduced government spending plans. Goldman is forecasting that the U.S. defense budget will soon flatten out and then decline, partly given that it's at an all-time high and that current geopolitical conflicts could potentially be met with a resolution. "Defense spending cycles up and down over time, and can be vulnerable to efforts to reduce total government spending." Poponak noted that although Trump has expressed broad support for the U.S. military and Department of Defense, any cost-cutting effort could still be a blow for the national defense budget. "Lower defense spending would flow to government IT to some degree.

Persons: Donald Trump's, Goldman, Government Effiency, wouldn't, Noah Poponak, Poponak, Trump, Lockheed Martin, Northrop, Huntington Ingalls, Booz Allen Hamilton Organizations: Government, Department of Defense, DoD, U.S ., Lockheed, Northrop Grumman, L3Harris Technologies, Huntington Ingalls Industries, Northrop, Leidos Holdings, U.S . Aerospace & Defense, Invesco Aerospace & Defense Locations: U.S

☆ Bitcoin has smashed records. Should you invest?
▼ + stars: | 2024-11-19 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

CNN —In the first quarter of this year, the price of bitcoin broke records in the wake of approval by the Securities and Exchange Commission for the first exchange-traded spot bitcoin funds. But in the past few years, education about crypto assets has been made more available to professionals. While it’s called a currency — and in some instances can be used like money — bitcoin is not legal tender in the United States or most other countries. He advises his clients who insist on exposure to limit their portfolio allocation to bitcoin to no more than 5%. Using a bitcoin ETF for exposure is the easiest option for most individuals who are not dedicated crypto investing experts.

Persons: bitcoin, Donald Trump’s, Michael Saylor, ”, Paul Brahim, Satoshi Nakamoto —, it’s, “, Trent Porter, Mike Turi, don’t, ” Turi, Matt, Elliott, Porter, Trump, you’ll, they’ve, ” Porter Organizations: CNN, Securities and Exchange Commission, CNBC, Financial, Association, SEC, Morningstar Locations: bitcoin, Bitcoin, United States

☆ Wall Street analysts tout our 2 cybersecurity stocks ahead of quarterly earnings
▼ + stars: | 2024-11-19 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Wall Street analysts are showing two cybersecurity stocks some love ahead of their quarterly results. In addition, Truist on Monday raised its price target on Palo Alto to $425 from $387 a share. "Larger platformization deals are leading to bigger long-term commitments," Truist said, citing conversations with Palo Alto customers and partners. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance Big picture Palo Alto Networks had a rocky start to 2024. And as with Palo Alto, remarks from management should give us a peek into the state of cyber spending overall.

Persons: Jefferies, Truist, management's, Nikesh Arora, Jim Cramer, Morgan Stanley, Jim, Jim Cramer's, Eduardo Munoz Organizations: ISI, Palo Alto Networks, Palo, Alto Networks, Palo Alto, CNBC, Traders, New York Stock Exchange Locations: Palo Alto, Ukraine, Russia, Palo, billings, New York, U.S

☆ Who will build new homes in Trump’s America?
▼ + stars: | 2024-11-19 | by ( Samantha Delouya | Julia Vargas Jones | ) edition.cnn.com time to read: +9 min

Trump has said that undocumented immigrants share the blame for America’s once-in-a-generation home affordability crisis, but the president-elect’s deportation plans may backfire, driving up the cost of homebuying even further. There is a need for more construction workers, as well: There were 282,000 construction jobs open as of September, according to the Bureau of Labor Statistics. “Immigrant labor is really important for our ability to continue to build homes affordably,” said Tobin. More than one-third of construction workers in the labor force are foreign-born, according to the US Census Bureau’s 2023 American Community Survey. In some states, that share is much higher: In California, New Jersey and Texas, more than half of construction workers are immigrants.

Persons: CNN — Duewight Garcia overstayed, Garcia, ” Garcia, Donald Trump’s, Trump, America’s, Riordan Frost, Frost, ” Frost, Jim Tobin, ”, Tobin, “, Duewight Garcia, Edward Pinto, ” Pinto, Stan Marek, MAREK, it’s, ” Marek, Trump’s, Ohio Sen, JD Vance, ” Vance, Marek, they’re, Jennie Murray, ” CNN’s Tami Luhby Organizations: CNN, New, Joint Center for Housing Studies of Harvard University, National Association of Home Builders, Bureau of Labor Statistics, Pew Research, Survey, American, National Immigration Forum, Trump, Housing Center, American Enterprise Institute, Labor, The New York Times, National Immigration Locations: Honduras, New York City, America, California , New Jersey, Texas, New York, California, Wells Fargo, Houston

An unemployed UX designer, Lei had taken it upon herself to create the perfect work bag. Today, Lei is the 28-year-old CEO and founder of Freja, a New York-based company that sells work totes, shoulder purses and travel accessories. A 'really, really slow' startIn February 2019, Lei was a soon-to-be-unemployed graduate student at Cornell University preparing for a job interview in New York. She tried pairing three different work bags with her outfit, and none of them worked. "It was really, really slow for the first two years," says Lei.

Persons: Jenny Lei, She'd, Lei, —, Freja, Louis Vuitton, Dior, Celine, Loewe, Sandy Liang Organizations: CNBC, Cornell University Locations: Hoboken , New Jersey, New York, Bryant, Brooklyn, Guangzhou, China

☆ How much money you’d have now if you invested $1,000 in Walmart 10 years ago
▼ + stars: | 2024-11-19 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

On Tuesday, Walmart announced its fiscal third quarter results as the retail giant promotes its ongoing Black Friday and Cyber Monday holiday shopping events next week. Additionally, Walmart reported earnings per share of 58 cents, adjusted, compared with the 53 cents analysts' predicted. Notably, the company appears to be optimistic heading into the holiday spending season and says Walmart customers have been purchasing more general merchandise outside of groceries. "In the U.S., in-store volumes grew, pickup from store grew faster, and delivery from store grew even faster than that," Doug McMillon, Walmart president and CEO, said in a Nov. 19 press release. "Our teams are executing and delighting our customers and members with the value and convenience they expect from Walmart."

Persons: Doug McMillon Organizations: Walmart Locations: U.S

☆ Rafael Nadal retires from tennis at Davis Cup after Spain lose to Netherlands
▼ + stars: | 2024-11-19 | by ( Charlie Eccleshare | Matthew Futterman | ) www.nytimes.com time to read: +5 min

MALAGA, Spain — Rafael Nadal’s professional tennis career is over, his final match a 6-4, 6-4 defeat to Botic van de Zandschulp of the Netherlands at the Davis Cup. AdvertisementNadal had flashes of his old self during the loss to Van de Zandschulp, but they were all too brief. With Nadal out it was left to Carlos Alcaraz to save him and to save Spain. Rafael Nadal retires from tennisRafael Nadal won four Davis Cups with Spain. He retires with 22 Grand Slam titles, second only to Novak Djokovic in men’s tennis history with 24.

Persons: Spain — Rafael Nadal’s, Botic van de Zandschulp, Carlos Alcaraz, Marcel Granollers, Wesley Koolhof, Van de Zandschulp, Nadal, Van de, Alcaraz, Marcus Granollers, courtside, Granollers, Rafael Nadal, Clive Brunskill, Novak Djokovic, Roger Federer, Roland Garros, Robin Soderling, Carlos Moya, Djokovic, Federer, ’, Oscar J . Barroso Organizations: Davis, Nadal, Dutch, Spain, ATP, Wimbledon, Australian, U.S, Federer, Getty Locations: MALAGA, Spain, Netherlands, Alcaraz, Paris

☆ Cathie Wood's Ark pitches mom-and-pop investors on exposure to Elon Musk's startups
▼ + stars: | 2024-11-19 | by ( Melia Russell | ) www.businessinsider.com time to read: +3 min

AdvertisementIn an email to subscribers, Ark Invest highlighted its exposure to Elon Musk's private companies. Its venture fund includes stakes in SpaceX, X, and xAI, totaling nearly 15% of net assets. Ark Invest hyped Musk's influence with Donald Trump, saying his companies could also benefit. SpaceX was Ark Venture Fund's largest holding, with about 13% of assets, worth an estimated $8.7 million. In a recent interview, Winton illuminated the factors that drove Ark's investments in Musk's companies.

Persons: Elon, Donald Trump, Elon Musk, Brett Winton, Elon Musk's, Ark, xAI, Trump, Musk, He's, Winton Organizations: Ark Invest, SpaceX, Ark, Elon, Invest, ARK Venture Fund, Ark Venture, Trump megadonor, Trump's, Winton Locations: Elon, United States

☆ 'Top quality asset': Strategist names his top stock to buy in India right now
▼ + stars: | 2024-11-19 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Indian markets have been under pressure in recent weeks, but strategist Matt Orton remains bullish on the country, revealing "one of his favorite" stocks right now. ICIC Bank One stock that stands out to Orton is private bank and financial services player ICICI Bank . "ICICI Bank is one of my favorite picks because it's just a top-quality asset. ICICIBANK-IN YTD mountain Year-to-date shares in ICICI Bank Orton said ICICI is among the three "domestic systemically important banks," or those considered " too big to fail " banks by the Reserve Bank of India. According to FactSet data, of 44 analysts covering the stock, 41 give it a buy or overweight rating, while the remaining three have a hold call.

Persons: Matt Orton, Raymond James, CNBC's, Orton, it's, ICICI Bank Orton, Jefferies Organizations: Raymond James Investment Management, Bombay Stock Exchange, ICICI Bank, India's, Bombay Stock Exchanges, ICICI, Reserve Bank of India Locations: bullish, India, U.S, Mumbai

☆ A bumper crop of art is hitting the New York auction market. Will Trump help?
▼ + stars: | 2024-11-19 | by ( Auzinea Bacon | John Towfighi | ) edition.cnn.com time to read: +6 min

Art on the auction blockA little more than half of Phillips, Christie’s and Sotheby’s sales — which will carry the three aforementioned art pieces — were based in New York, where 34 of the top 50 auction lots were sold in 2023, according to an Art Basel and UBS Art Market Report. Christie’s is auctioning 689 lots this week as part of the November art auctions. But Todd Levin of Levin Art Group was skeptical that tax cuts would do much for the art market. Interest ratesAnother drag on the art market over the last few years: high interest rates. A signal for what’s to comeNew York’s art auctions in the spring and fall could be a sign of things to come for the global art market, according to Woodham.

Persons: Maurizio Cattelan’s, ”, Andy Warhol’s “, Rene Magritte’s “, Sotheby’s, Phillips, Merrill Lynch, Donald Trump, Alex Glauber, ” Glauber, Christie’s, René Magritte, Marc Porter, Hiroko Masuike, Trump, bode, Todd Levin, “ It’s, Doug Woodham, —, Fernando Botero's, Kena Batancur, Glauber, Amy Whitaker, ’, ” Whitaker Organizations: New, New York CNN, Andy Warhol’s “ New York Skyscrapers, of, Christie’s, Association of Professional Art Advisors, CNN, Art Basel, UBS Art, New York Times, UBS Survey, Global, Trump White, Levin Art, Federal Reserve, Trump, NYU Steinhardt Locations: New York, Belgian, Christie’s Americas, Woodham, AFP, Miami

However, there are consequences for failing to file a tax return that you should be aware of. Why filing taxes is importantLegal obligationsFirst things first: Do you even need to file a tax return? However, you are required to file a tax return if you have $400 or more in net self-employment income. FAQs on what happens if you don't file taxesHow long can I go without filing taxes? If you don't file a tax return and don't owe any taxes, you have up to three years to claim any refund that might be due.

Persons: David Beck, Beck, filers, TurboTax, you'll, It's, it'll, there's, There's, haven't, Morgan, Tanza, Read Organizations: Free, NEC, TurboTax, Budget, Social Security, State, IRS, Levy, Railroad, Board, Military, garnishment, Chevron, Finance, Morgan Stanley Wealth Management, Fidelity, BI, Elon University Locations: U.S, Dix Hills, NY, TheStreet

☆ No doubt there is a narrow window of opportunity to take action on climate change, says Paul Polman
▼ + stars: | 2024-11-19 | 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 EmailNo doubt there is a narrow window of opportunity to take action on climate change, says Paul PolmanPaul Polman, former Unilever CEO, business leader, campaigner and co-author of "Net Positive," discusses climate financing at COP29 and what a second term from President-elect Donald Trump means for the global fight against climate change.

Persons: Paul Polman Paul Polman, Donald Trump Organizations: Unilever

☆ 3 traits 'ultra-high net worth individuals' look for when hiring, according to a recruiter
▼ + stars: | 2024-11-19 | by ( Gili Malinsky | ) www.cnbc.com time to read: +2 min

In her more than 14 years working at the firm, "I really homed in on a niche of working with private family offices, ultra-high net worth individuals, celebrities, athletes, musicians," she says. She helps them fill all sorts of roles: "chief of staff, personal assistants, estate manager staff," nannies, personal chefs, etc. Though the types of roles they're hiring for vary, Levine says there are three traits that many of her successful clients always look for in an employee. Depending on the person she's recruiting for, they might need help organizing their calendar or they might need help moving their business forward. Whatever the problem, they ultimately want someone "who's going to provide solutions and improve their efficiency throughout the day."

Persons: Emily Levine, Levine, Kardashian, Jenner, Kevin Costner, Maria Shriver Organizations: NBA

☆ Stocks making the biggest moves after hours: Keysight Technologies, La-Z-Boy, Dolby Laboratories and more
▼ + stars: | 2024-11-19 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

The electronics test and measurement equipment company's fiscal fourth-quarter results beat analysts' estimates on the top and bottom lines. Dolby Laboratories — The audio technology company advanced 10% after its fiscal fourth-quarter earnings of 61 cents per share topped Street estimates of 45 cents per share, per FactSet. Azek Company — Shares of the residential siding and trim company ticked up 2% after its fiscal fourth-quarter results beat analysts' estimates. Analysts surveyed by FactSet were looking for earnings of 27 cents per share and $339.1 million in revenue. La-Z-Boy reported earnings of 71 cents per share on revenue of $521 million.

Persons: Keysight, FactSet, Dolby Organizations: Dolby Laboratories, Powell Industries, Azek

☆ Rafael Nadal Davis Cup analysis: Nadal loses to Botic van de Zandschulp of Netherlands
▼ + stars: | 2024-11-19 | by ( Matthew Futterman | Charlie Eccleshare | ) www.nytimes.com time to read: +10 min

Follow live coverage of Rafael Nadal’s last Davis Cup hereMALAGA, Spain — Botic van de Zandschulp beat Rafael Nadal in the Davis Cup quarterfinals at the Palacio de Deportes José María Martín Carpena 6-4, 6-4 Tuesday. The Athletic’s Charlie Eccleshare and Matt Futterman analyze the match…How did Nadal’s serve hinder him? Nadal’s serve is driving him away from tennis more than anything else. Through the first set, Nadal landed 61 percent of his first serves and won 70 percent of those points. Despite four double faults in that set, Van de Zandschulp was serving at 76 percent and winning 90 percent of those points.

Persons: Rafael Nadal’s, Botic van, Zandschulp, Rafael Nadal, Van de Zandschulp, Carlos Alcaraz, Tallon Griekspoor, Alcaraz, Marcel Granollers, Wesley Koolhof, Charlie Eccleshare, Matt Futterman, Carlos Moya, Jorge Guerrero, Nadal, Madrid Matt Futterman, Thomas Coex, Van de Zandschulp’s, couldn’t, “ Rafa, Rafa, ”, birthed Rafael Nadal Charlie Eccleshare, Taylor Fritz, Casper Ruud, ” Van de Zandschulp Organizations: Davis, Palacio, Deportes José María, Nadal, Getty, U.S ., Malaga, Getty Images, Wimbledon, Rafa Locations: MALAGA, Spain, Netherlands, Griekspoor, AFP, Madrid, “

☆ Lowe's beats on earnings and hikes guidance, but still expects sales to fall this year
▼ + stars: | 2024-11-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

The company beat fiscal second-quarter earnings expectations, but missed on sales and cut its full-year outlook blaming inflation. (Photo by Eric Thayer/Getty Images)Lowe's beat Wall Street's quarterly earnings expectations on Tuesday, as outdoor do-it-yourself projects, the home professional business and stronger online shopping fueled sales. The company updated its full-year guidance on Tuesday, and now expects total sales of between $83 billion to $83.5 billion, higher than its previous forecast for $82.7 billion to $83.2 billion. Lowe's is lapping a year-ago period when the company lowered its outlook and sales tumbled nearly 13% year over year. Home Depot beat Wall Street's sales and earning expectations, yet posted its eighth quarter in a row of declining comparable sales.

Persons: Eric Thayer Organizations: LSEG, Home, Federal Reserve, Wall Locations: ANGELES , CALIFORNIA, Los Angeles , California, Lowe's

☆ What awaits the GOP's narrow House majority: From the Politics Desk
▼ + stars: | 2024-11-18 | by ( The Politics Desk | ) www.nbcnews.com time to read: +8 min

In today’s edition, national political reporter Ben Kamisar examines how House Republicans are growing increasingly aligned with Donald Trump. “One of the main takeaways from this cycle is that the Democratic Party has a lot of work to do on how we’re reaching voters,” Democratic strategist Christina Freundlich said. It’s one more thing a narrow House Republican majority will have to work through early next year. The remaining House Republicans are going to have to summon a different level of unity than they have managed recently to move the party’s legislative agenda. Martin O’Malley, a onetime presidential candidate, announced he’d enter the race for Democratic Party chair, but many more names are already circulating.

Persons: Ben Kamisar, Donald Trump, Kristen Welker, Mark Murray, Kamala Harris, Harris, Trump, Christina Freundlich, “, Steve Schale, Barack Obama’s, Joe Biden, ”, ” Schale, Sen, John Fetterman, Sahil Kapur, Syedah Asghar, Ryan Nobles, Kyle Stewart, Mike Johnson, We’re, ” Johnson, Donald Trump’s, you’d, —, Matt Gaetz’s, Elise Stefanik, Mike Waltz, Pete Hegseth, Brendan Carr, Carr, Johnson, ann o, lea Organizations: NBC, White House, Capitol, Republicans, Press, Democrats, Democratic Party, Democratic, PAC, Kyle Stewart Congress, “ Fox, Republican, NBC News, Trump, Fox News, Federal Communications Commission’s, adjourning, gov Locations: Florida, Gaetz

☆ Trump Media in reported talks to buy crypto trading platform Bakkt, sending shares soaring
▼ + stars: | 2024-11-18 | by ( Kevin Breuninger | ) www.nbcnews.com time to read: +1 min

Trump Media is reportedly in “advanced talks” to buy the cryptocurrency trading firm Bakkt, the Financial Times reported Monday, citing two people with knowledge of the talks. Trump Media, which is majority-owned by President-elect Donald Trump, shot up by double digits minutes after the FT report was published. Trump Media has seen its market value rise and fall by billions of dollars in the run-up to the 2024 presidential election, as retail investors bet on the Republican’s momentum and political prospects. While Trump Media has reported a $363 million net loss on revenues of just $2.6 million so far this year, it boasts a market cap above $7 billion. A Trump Media spokeswoman did not immediately respond to CNBC’s request for comment.

Persons: “, ”, Donald Trump, Kelly Loeffler, Loeffler, Jeffrey Sprecher, Brian Kemp, Sen, Johnny Isakson, Democratic Sen, Raphael Warnock Organizations: Trump Media, Financial Times, President, Nasdaq, Intercontinental Exchange, New York Stock Exchange, Georgia Gov, U.S, Senate, Democratic

Search resuls for: "Net"

25 mentions found