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☆ The strategic way Taylor Swift shut down fan backlash, endorsed Kamala Harris, and won
▼ + stars: | 2024-09-11 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +6 min

Last night, left-leaning Swifties everywhere breathed a sigh of relief: Taylor Swift finally endorsed Democratic candidate Kamala Harris for president. Two officials told NBC News they had no idea Swift's endorsement was coming — her running mate, Tim Walz, even found out on live TV — but they were definitely ready for it. (A representative for Swift didn't respond to a request for comment from BI.) Swift didn't officially endorse Biden until October 7, less than one month before the 2020 election. As Swift herself said in her endorsement post, "The simplest way to combat misinformation is with the truth."

Persons: Taylor Swift, Kamala Harris, Harris, Tim Walz, Barack Obama, Hillary Clinton, Joe Biden, Biden, Swift, she's, Walz —, Trump, Brittany Mahomes, Donald Trump, Swift could've, she'd, would've, Swifties Organizations: Service, Democratic, NBC News, Business, Republican Party, BI, Biden, DNC Locations: Vienna

☆ Harris and Trump kept talking about pumping more oil. There’s a problem with that
▼ + stars: | 2024-09-11 | by ( David Goldman | Matt Egan | ) edition.cnn.com time to read: +4 min

So why were Vice President Kamala Harris and former President Donald Trump talking so much about expanding oil production during Tuesday night’s debate? Fossil fuel will be dead,” Trump said. For all the candidates’ talk of promoting fossil fuel production, it’s not clear that America needs drastically more oil. US oil production has already spiked to a record of 13.4 million barrels per day, according to weekly federal data. So it would likely take an extreme — or calamitous — event to get gas prices back below $2.

Persons: Kamala Harris, Donald Trump, Harris, fracking, Biden, Trump, they’ll, ” Trump, Andy Lipow, he’s, It’s, it’s, Lipow, ”, Bob McNally, doesn’t, McNally, George W, Bush, “, America Organizations: CNN, Senate, Lipow Oil Associates, AAA, Rapidan Energy, US Energy Information Administration, Travel Locations: America, United States, Pennsylvania, OPEC, China

☆ Lawyers for Caroline Ellison, Sam Bankman-Fried's ex, want zero prison time for her
▼ + stars: | 2024-09-11 | by ( Kwan Wei Kevin Tan | Jacob Shamsian | ) www.businessinsider.com time to read: +1 min

Caroline Ellison was Sam Bankman-Fried's girlfriend and the CEO of Alameda Research. Go to newsletter preferences Thanks for signing up! AdvertisementLawyers for Caroline Ellison, Sam Bankman-Fried's ex-girlfriend and the CEO of his trading firm Alameda Research, argue that the 29-year-old shouldn't be sent to prison. "Caroline Ellison is a young person of enormous talent and promise, with a deep commitment to helping others," Ellison's lawyers wrote in a sentencing memorandum filed on Tuesday. Ellison, her lawyers said, has "focused on rebuilding her life and resolving the civil cases and other consequences arising from her acts at Alameda Research" since testifying at Bankman-Fried's criminal trial in October.

Persons: Caroline Ellison, Sam Bankman, Ellison, — Organizations: Alameda Research, Service, Business Locations: Bankman

Larry Ellison, co-founder, chairman and chief technology officer of Oracle, speaks during the Oracle OpenWorld conference in San Francisco on Oct. 1, 2017. Following a better-than-expected earnings report after the close on Monday, the stock popped 11% on Tuesday. Oracle shares are now up 49% this year, trailing only AI chipmaker Nvidia — up 136% — among large-cap tech stocks. Both companies announced major layoffs in their earnings reports last month. By the standards of high-growth tech, Oracle remains fairly plodding.

Persons: Larry Ellison, It's, Ellison, Elon Musk, Jeff Bezos, Safra Catz Organizations: Oracle, Intel, Cisco, Guggenheim, Nvidia, Forbes, Amazon, Revenue Locations: San Francisco

The rate of weight loss with the experimental pill, called amycretin, appears to be more rapid than what’s seen for other drugs. “It’s roughly double the weight loss rate seen with current GLP-1 agonists and approaching procedural or surgical-level outcomes,” said Dr. Christopher McGowan, a gastroenterologist who runs a weight loss clinic in North Carolina. McGowan said that while the weight loss was significant, he still has concerns about how fast people lost weight. “While losing weight is seemingly the end goal, how that weight is lost matters,” he said. Spratt said she would like to know how much of the weight loss came from fat compared with muscle.

Persons: “, ”, Christopher McGowan, ” Dr, Susan Spratt, Spratt, haven’t, Martin Lange, Lange, McGowan, ” McGowan Organizations: Novo Nordisk, European Association for, Diabetes, Population Health Management, Duke Health Locations: Novo, Spain, North Carolina, semaglutide, Wegovy, It’s

Americans reported losing $5.6 billion to cryptocurrency scams in 2023, with older Americans hit the hardest, according to the FBI. Americans 60 years old and older filed more than 16,000 complaints of cryptocurrency fraud and reported losing over $1.6 billion, much more than any other age group. The reported scams ranged from phony tech support help and extortion to scammers impersonating government officials. The vast majority of reported losses — almost $4 billion — were a result of investment scams, a category that the FBI uses primarily to refer to so-called pig butchering scams. Last year, a United Nations report found that pig butchering scams are often run by human trafficking victims in Southeast Asia.

Persons: ’, ”, Amy Nofziger, Nofziger Organizations: FBI, NBC News, AARP, United Locations: United Nations, Southeast Asia, California, Chicago

☆ Johnny Gaudreau’s wife reveals in eulogy she’s pregnant, expecting 3rd child
▼ + stars: | 2024-09-10 | by ( Ariana Brockington | ) www.nbcnews.com time to read: +4 min

On Sept. 9, Meredith Gaudreau delivered a heartbreaking speech for the Columbus Blue Jackets player during the joint funeral for him and his brother. Through tears, Meredith Gaudreau recalled their love story and spoke about welcoming their first child together, a baby girl named Noa. Three kids.’”She added that their oldest child, Noa, has not celebrated her second birthday yet. Her pregnancy news came after her sister-in-law Madeline Gaudreau read her eulogy to husband Matthew and also mentioned being pregnant. Johnny and Matthew Gaudreau previously played together at Boston College before their professional careers.

Persons: Meredith Gaudreau, Johnny Gaudreau, Matthew Gaudreau, Noa, John, “ John, There’s, ” Meredith Gaudreau, “, ”, we’ve, Madeline Gaudreau, Matthew, Meredith, Matty, Tripp, “ Matthew, Matt, ” Madeline Gaudreau, “ I’m, Johnny, Jerry York Organizations: Columbus Blue Jackets, New Jersey State Police, NBC Philadelphia, NJ Advance Media, Boston College Locations: New, New Jersey

☆ Bank stock woes hold back the overall market, but Starbucks' new CEO is full steam ahead
▼ + stars: | 2024-09-10 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

All of our Super Six megacaps were higher, even Club stock Apple was pushing to stay in the green after getting mixed reviews on Monday's iPhone 16 event. That's an interesting line because you could argue that Starbucks needs to pullback its aggressive expansion plans in the world's second-largest economy. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Daniel Pinto, Pinto, JPMorgan's, else's, Jamie Dimon, Wells, Morgan Stanley, ramping, Brian Niccol, Niccol, Buster's, Jim Cramer's, Jim Organizations: CNBC, ., Apple, JPMorgan, Barclays Global Financial Services Conference, Dow, Starbucks, The Club, GameStop, Dave, Jim Cramer's Charitable Locations: Banks, U.S, United States, China

☆ I regret worrying so much about my GPA in college—it didn't impact my career how I expected
▼ + stars: | 2024-09-10 | by ( Morgan Smith | ) www.cnbc.com time to read: +6 min

As a new school year begins, I reminisce about unwrapping fresh school supplies and reuniting with friends after a summer apart. It's my biggest regret from college: I don't wish I worked harder or studied more — I wish I cared less about my GPA. The sacrifices I made to get near-perfect grades seemed worth it when I graduated from Northwestern with honors in 2019. And if you're planning on getting a postgraduate degree, like going to law or medical school, your GPA will be an integral part of your admission decision. Those, I believe, will do more for your career prospects than a 4.0 ever could.

Persons: I'm, —, Chelsea Jay, Jay Organizations: Northwestern University, Medill, Northwestern, CNBC Locations: Evanston , Illinois, Lake Michigan, Northwestern, New Jersey

☆ Cuomo expresses sympathy for Covid-19 victims, criticizes Trump’s pandemic response in contentious hearing
▼ + stars: | 2024-09-10 | by ( Clare Foran | Gloria Pazmino | ) edition.cnn.com time to read: +10 min

The hearing focused in on nursing home deaths and a controversial March 2020 directive from the New York State Department of Health on hospital discharges and nursing home admissions. “You own this,” Republican Rep. Brad Wenstrup of Ohio, chairman of the subcommittee, told Cuomo at the outset of the hearing. The former governor has defended his handling of the pandemic, saying that the state followed federal guidelines. New York State Attorney General Letitia James issued a report in 2021 finding that the New York State Department of Health undercounted Covid-19 deaths among nursing home residents by approximately 50%. The New York health department undercounted the number of Covid-19 deaths in nursing homes by thousands during Cuomo’s time in office, an audit conducted by state officials found in 2022.

Persons: Andrew Cuomo, Donald Trump’s, Cuomo, ” Cuomo, Brad Wenstrup of, Raul Ruiz, “, Gov . Cuomo, Nicole Malliotakis, “ you’ve, you’ve, That’s, Wenstrup, Kathy Hochul’s, Hochul, ” Wenstrup, Avi Small, ”, Anthony Fauci, Azzopardi, Letitia James, New York State Department of Health undercounted, Critics, Kathy Hochul, James ’, CNN’s Paul LeBlanc, Annie Grayer, Piper Hudspeth Blackburn Organizations: CNN, Former New York Gov, GOP, Trump, Democrat, New York State Department of Health, Republicans, ” Republican, Gov, New, New York Republican, ”, Centers, Medicare, Services, US Centers for Disease Control, Department of Health, National Institute of Allergy, New York, Department of Justice, New York State Assembly, New York Gov Locations: Brad Wenstrup of Ohio, New York, New York City, York, Manhattan

☆ Big Tech drawing dip buyers again, but some investors say diversification is prudent move
▼ + stars: | 2024-09-10 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The tech slide has many investors anxious to buy the dip, but now is the time for caution, some say. Communication services and information technology stocks are the two worst-performing S & P 500 sectors this quarter, after having fallen into a correction from their peaks in July. Communication services is more than 11% off its 52-week high, while information technology is more than 12% off its recent high. For much of this year, any dips in the high-flying tech stocks have proven to be a buying opportunity for investors, as the promise of artificial intelligence has traders unable to stay away from these names for long. Investors were buying the dip again midday through the trading session Tuesday.

Persons: Ken Mahoney, We've, Rob Williams, Williams, Savita Subramanian, Jason Draho, CNBC's, Tesla Organizations: Federal Reserve, Asset Management, Sage Advisory, Bank of America, UBS Global Wealth Management, Apple, Microsoft, Nvidia

☆ European businesses in China reach a 'tipping point' on whether to invest more
▼ + stars: | 2024-09-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Edgar Su | ReutersBEIJING — European businesses in China have grown so discouraged with the outlook for operating in the country that Beijing must act if the companies are to invest further, according to the EU Chamber of Commerce in China. "We do believe actually that we are in sort of a tipping point situation. Foreign direct investment into China fell by 29.6% during the January to July period versus a year ago, according to China's Ministry of Commerce. Such changes are part of Beijing's pledges to reduce what it calls the negative list, a collection of industries off-limits to foreign businesses in the country. However, Eskelund said such developments, while encouraging, did not move the needle enough for European businesses, especially when members' optimism on profitability in China for the next two years is at an all-time low.

Persons: Edgar Su, Jens Eskelund, Eskelund Organizations: of, Initiative, Reuters, EU Chamber of Commerce, China's Ministry of Commerce Locations: Beijing, China, Reuters BEIJING, Growth

☆ Britain does a bad job at keeping globally relevant tech firms, former Arm CEO says
▼ + stars: | 2024-09-10 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Warren East, former CEO of Rolls Royce and Arm, speaking at a tech event in London on June 13, 2022. "I think we have a lot to offer in terms of U.K.-based innovative technology," East told the audience at Cambridge Tech Week. However, he added: "We tend not to be able to realise as many global businesses as that promise would suggest." East was also previously the CEO of U.K. aviation engineering giant Rolls-Royce . East said that Britain "needs to get commercialization right," adding that too much innovation gets created in the U.K. but is then exported elsewhere around the world.

Persons: Warren East, East Organizations: Royce, Cambridge Tech, Warren, Tokamak Energy Locations: London, CAMBRIDGE, England, Britain, U.S

☆ Oracle is designing a data center that would be powered by three small nuclear reactors
▼ + stars: | 2024-09-10 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Oracle is designing a data center that will require more than a gigawatt of electricity, the company's chairman said. The data center would be powered by three small nuclear reactors, he added. "The location and the power place we've located, they've already got building permits for three nuclear reactors," Ellison said. "These are the small modular nuclear reactors to power the data center. There are currently three operational small modular reactors in the world, according to the Nuclear Energy Agency.

Persons: Ellison, they've Organizations: Oracle, CNBC, Nuclear Energy Agency, U.S Locations: U.S, China, Russia, Japan

☆ Big Lots files for bankruptcy protection, sells to private equity firm as it promises to keep offering 'extreme bargains'
▼ + stars: | 2024-09-09 | by ( Gabrielle Fonrouge | ) www.nbcnews.com time to read: +4 min

Discount home goods retailer Big Lots filed for bankruptcy protection on Monday after high interest rates and a sluggish housing market slowed demand for its low-priced furniture and decor. As part of its Chapter 11 filing, Big Lots agreed to sell its business to private equity firm Nexus Capital Management for about $760 million, consisting of $2.5 million in cash plus its remaining debt and liabilities, court records show. While discount retailers tend to do well in rough economic cycles, Big Lots primarily caters to lower- and middle-income consumers, who have curbed discretionary spending at a higher rate than their more affluent counterparts. “Big Lots is not always good value for money. A&G Real Estate Partners has been tapped as Big Lots’ real estate advisor, while Nexus will be represented by law firm Kirkland & Ellis.

Persons: Lots, Bruce Thorn, ” Evan Glucoft, ”, Big, Glucoft, Cos, ” Neil Saunders, GlobalData, ” Saunders, Davis Polk, Kirkland, Ellis Organizations: Big, Nexus Capital Management, Walmart, Goods, Guggenheim Securities, Real, Partners

☆ Utilities are now hottest trade of 2024, and Bank of America says keep buying instead of tech
▼ + stars: | 2024-09-09 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Utilities — not tech — are now the hottest trade on Wall Street, according to Bank of America. "Note that the total return of S & P 500 Utilities (the 'tortoise') has been in line with Nasdaq's (the "hare') over the long term." Vanguard Utilities ETF (VPU) , a $6.4 billion market cap-weighted fund, has a total return of 22%. The iShares U.S. Utilities ETF (IDU) , with $1.4 billion in assets, has a 22% total return. Invesco S & P 500 Equal Weight Utilities ETF (RSPU) , an equal-weighted fund with just $317 million in assets, has a roughly 20% total return in 2024.

Persons: Savita Subramanian, Subramanian, —, Invesco, Jesse Pound Organizations: Bank of America, Federal Reserve, Utes, Utilities, Vanguard Utilities, U.S . Utilities, Fidelity MSCI Utilities Locations: U.S

☆ Big Lots files for bankruptcy
▼ + stars: | 2024-09-09 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Big Lots, the beleaguered discount retailer that previously warned it had “substantial doubt” about its survival, has filed for bankruptcy. As part of its Chapter 11 filing, the retailer announced that private equity firm Nexus Capital Management is acquiring “substantially all” of Big Lots stores and business operations. Big Lots blamed several economic factors for its bankruptcy, including high inflation and interest rates. Big Lots is in the process of closing roughly 300 of its 1,400 store across the United States. Big Lots joins a growing list of well-known retailers hitting financial turbulence as customers cut back spending on non-essential items.

Persons: ”, Bruce Thorn, McDonald’s, it’s, Sarah Foss, ” Foss Organizations: New, New York CNN, Nexus Capital Management, Lots, Walmart, Debtwire, CNN Locations: New York, United States

☆ Boeing reaches deal with union to avoid strike
▼ + stars: | 2024-09-08 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —Boeing and the Machinists union, which represents 33,000 of its employees on the West Coast, have reached a tentative deal that could avoid a strike that had been set to start this Friday. Before it will take effect, the deal would need the approval of the rank-and-file union members who build commercial jets. But leadership of the union praised the tentative deal and said it achieved the union’s goals. The deal represents Boeing’s biggest pay raise for union members. The deal also includes increased job security for union members with a promise to build the next new airplane at one of the union-represented plants in the Puget Sound region.

Persons: “, “ We’ve, ” Stephanie Pope, Max, ” Jon Holden, Brandon Bryant, Dave Calhoun, ” Calhoun, “ We’re, we’re, ”, Kelly Ortberg Organizations: New, New York CNN, Boeing, International Association of Machinists, Aerospace Workers, Boeing’s, Puget, Boeing Boeing, Alaska Airlines, UPS, General Motors, Ford, Union, ” Company Locations: New York, West Coast, South Carolina, Seattle, Portland , Oregon

☆ Alzheimer's drug Leqembi promises to give patients more time, but they face a long road to treatment
▼ + stars: | 2024-09-08 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +15 min

In this article ESALY4523.T-JPBIIB Follow your favorite stocks CREATE FREE ACCOUNTHannah Yoon | The Washington Post | Getty ImagesLeqembi, an Alzheimer's drug from Biogen and Eisai , isn't a cure for the mind-damaging disease. The drug works in part by clearing toxic plaques in the brain called amyloid, a hallmark of Alzheimer's, according to its manufacturers. The Mayo Clinic's center, which began screening patients for Leqembi in October, has 50 to 60 patients currently taking the drug, according to Petersen. The Mayo Clinic's Alzheimer's center similarly stops dosing patients if ARIA appears on an MRI, according to Petersen. Meeks' neurologist, Dr. Wendell Helveston, said a follow-up MRI picked up one small area of bleeding in her brain that didn't cause any symptoms.

Persons: Hannah Yoon, Missie Meeks, Meeks, Leqembi, I'm, haven't, Julio Rojas, Patricia Waldrup, Biogen's, Alzheimer's, Brian B, Bettencourt, Tracey Collins, Collins, Alex Scott, Scott, Medicare enrollees, Neurologists, Ronald Petersen, Jay Reinstein, Michael Robinson Chávez, Petersen, Michael Irizarry, Eisai's, Eisai, Biogen, Eisai's Scott, It's, Rojas, Wendell Helveston, Bobby Pugh, Bessie Pugh, Karen Pulfer Focht Organizations: Washington Post, Getty, CNBC, University of California, San, San Francisco Health, Toronto Star, Medicare, Mayo Clinic Alzheimer's Disease Research, Georgetown University Hospital, Washington , D.C, Mayo, Leqembi, Mayo Clinic, Reuters, ARIA, Hattiesburg Clinic, Ave Locations: Biogen, Ellisville , Mississippi, U.S, San Francisco, Portland , Maine, Boston, South Mississippi, Washington ,, Mayo, Portland, South Portland, Mississippi, Eisai, Bartlett , Tennessee

☆ Frequent flyer programs: The most profitable part of the airline industry
▼ + stars: | 2024-09-08 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

That’s because frequent flyer programs have become a crucial part of the airline industry’s profitability. The typical airline passenger probably never thinks about the economics of frequent flyer programs, but the programs have become crucial for airlines to generate the profits needed to stay afloat. United reported a mere $3.2 billion on its other operating line that came primarily on payments to its frequent flyer program. “The airlines’ frequent flyer programs are their lifeblood; they’re the reason the airlines are in business,” said Zach Griff, senior aviation reporter for The Points Guy, a travel site that closely follows the programs. But it’s probably inaccurate to say frequent flyer programs are more valuable than the airlines themselves since actual flights give the programs their intrinsic value, said Andrew Didora, airline analyst with Bank of America.

Persons: cardholders, ”, Zach Griff, Tom Fitzgerald, TD Cowen, “, it’s, Pete Buttigieg, Scott Kirby, Griff, Guy, Andrew Didora, Didora, “ They’re, ” Didora Organizations: New, New York CNN, Delta Air Lines, American Express, American Airlines, Delta, Department of Transportation, United, Airlines, America, Bank of America Locations: New York

☆ 3 ways Wall Street's largest banks are leveraging AI to increase profitability
▼ + stars: | 2024-09-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Over the past year, Wall Street's largest names — including Goldman Sachs , Bank of America , Morgan Stanley , Wells Fargo to JPMorgan Chase — ramped up their generative artificial intelligence efforts with the aim of boosting profits. MS YTD mountain Morgan Stanley YTD AI use cases for key businesses Morgan Stanley was among the first on Wall Street to publicly embrace the technology, unveiling two AI assistants for financial advisors powered by OpenAI. Launched in September 2023, the AI @ Morgan Stanley Assistant gives advisors and their staff quick answers to questions regarding the market, investment recommendations, and various internal processes. If it does, that would be welcome news for shareholders after Morgan Stanley's wealth segment missed analysts' revenue expectations in the second quarter . However, As long as these costs don't outweigh return on investment (ROI), we're happy with Wells Fargo and Morgan Stanley's moves to innovate.

Persons: Goldman Sachs, Morgan Stanley, Wells, JPMorgan Chase — ramped, Jamie Dimon, Alexandra Mousavizadeh, OpenAI's ChatGPT, Jeff McMillan, Morgan, McMillan, It's, Morgan Stanley's, Evident's Mousavizadeh, Banks, Mousavizadeh, Tracy Kerrins, Morgan Stanley's McMillan, He's, Morgan Stanley's OpenAI, Teresa Heitsenrether, Jim Cramer's, Jim Cramer, Jim Organizations: Bank of America, JPMorgan, Citi, Microsoft, Nvidia, OpenAI, CNBC, Google, Deutsche Bank, BNP, Mistral, TD Bank Group, Big, Wall, New York Stock Exchange, Bloomberg, Getty Locations: Wells Fargo, Silicon, management's, Wells, New York

☆ The organizers of a January 6 awards gala claim Trump's song with riot defendants' prison choir 'went Platinum.' It didn't.
▼ + stars: | 2024-09-05 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

Read previewIf the indefinitely postponed J6 Awards Gala ever happens, one very special attendee will be in for a treat. Advertisement"Released on March 3, 2023, this song quickly went Platinum, thanks to your unwavering support," the website says. The RIAA website that catalogs gold and platinum-certified songs does not include any music from Donald Trump nor from the J6 Prison Choir. The J6 Awards Gala promises to auction off a plaque commemorating the "Platinum status" of Donald Trump's musical single. It isn't clear if Ronald McAbee is a member of the J6 Prison Choir.

Persons: —, Donald Trump, President Trump, There's, Erin Burr, Donald Trump's, Mac Miller —, Rae Sremmurd, Forbes, Ed Henry, Trump, Rudy Giuliani, Peter Navarro, Sarah McAbee, Ronald McAbee, Rudolph Contreras, Contreras, Sarah McAbee didn't Organizations: Service, Business, Republican, Recording Industry Association of America, RIAA, J6, Trump, BI, Billboard, Fox, White House, New York Times, Capitol Locations: Washington, DC, Bedminster, New Jersey, Tennessee

☆ A Gen Xer quit a $110,000-a-year job in DC for one in Germany that pays less than half. He says he's more financially stable and happier now.
▼ + stars: | 2024-09-05 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Smith briefly lived in Germany in the early 2000s when he worked as a judge advocate general for the US Army. "That trip that I took to Germany completely changed my world," Smith, 52, told Business Insider. He said life in Germany made him realize how much he enjoyed traveling outside the US. Related storiesIn April 2021, Smith landed a job at the Small Business Administration as an attorney overseeing COVID-19 pandemic-era loans. At that point, Smith visited the Dominican Republic with a friend.

Persons: —, Kobi Smith, Smith, he's Organizations: Service, US Army, Business, Social, Social Security Administration, Social Security, US Army Reserves, Army, Small Business Administration, Washington Locations: Germany, Nuremberg, Europe, Canada, Japan, Mexico, Maryland, Washington, DC, COVID, Dominican Republic, Popeyes, Ansbach, Washington ,, American

☆ Nvidia has more than just billions of dollars in value to lose if its stock keeps falling
▼ + stars: | 2024-09-05 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Nvidia, the nearly $3 trillion AI chip maker, is well known as a “golden handcuffs” employer. It’s worked especially well for Nvidia, a 30-year-old tech company whose specialized chips now account for 90% of AI-related chip sales. Since 2019, Nvidia’s stock has soared 3,000% — minting millionaires among its rank and file. Things got worse for Nvidia on Tuesday, when shares fell 9.5%, wiping $279 billion off its value. As my colleague David Goldman noted, only 27 companies on Earth are worth as much as Nvidia lost on Tuesday.

Persons: CNN Business ’, It’s, Jensen Huang, Per, David Goldman Organizations: CNN Business, New York CNN, Nvidia, Bloomberg, Santa, Per Bloomberg, Wall, Google, Competition Locations: New York, ”

☆ Sweden's Volvo Cars scraps plan to sell only electric vehicles by 2030
▼ + stars: | 2024-09-04 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Volvo Cars, which is owned by China's Geely Holding, had been among the first legacy carmakers to promise a complete switch to EVs. The firm said its long-term aim remains to become a fully electric carmaker. The target replaces a 2021 pledge for Volvo Cars' lineup to be fully electric by the end of the decade. The move means Volvo Cars follows in the footsteps of other industry players in scaling back its EV ambitions. Shares of Volvo Cars traded more than 4% lower Wednesday.

Persons: China's Geely, carmakers, Mercedes, Jim Rowan Organizations: Volvo, China's, Volvo Cars, Benz Group, Volkswagen Locations: Germany

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