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☆ Microsoft shares fall after earnings report as analysts process a delayed A.I. ramp
▼ + stars: | 2023-07-26 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Microsoft shares were trading down as much as 5% on Wednesday, a day after the software maker issued worse-than-expected quarterly revenue guidance. Microsoft has been increasing its capital expenditures to get infrastructure in place to provide AI services to developers at other companies and roll out assistant capabilities to apps such as Word and Outlook. The extra spending cuts into Microsoft's cloud gross margin. "The messaging on Copilot was more about tempering rather than inflating expectations," wrote UBS analysts led by Karl Keirstead, which also has a buy rating on Microsoft. Raymond James' Andrew Marok and Mauricio Munoz, with the equivalent of a buy rating on Microsoft shares, had a similar tone.

Persons: Amy Hood, Mark Murphy, Karl Keirstead, It's, Brad Reback, Raymond James, Andrew Marok, Mauricio Munoz, Satya Nadella, — CNBC's Michael Bloom Organizations: Microsoft, JPMorgan, UBS

Republicans and Democrats in Congress have pledged tighter oversight of banking regulators following the collapse of Silicon Valley Bank and Signature Bank. Some in Congress are concerned that the Federal Reserve's current inspector general is not independent enough to serve as a check on the central bank. Unlike the Pentagon and other big agencies, the Fed's internal IG, currently Mark Bialek, reports directly to the Fed board. Under the Senators' plans, the holder of the role would instead be appointed by the President and confirmed by the Senate. Specifically, they objected to having the IG's salary tied to the compensation of Fed officials who the IG is tasked with investigating.

Persons: Elizabeth Warren, Evelyn Hockstein, Rick Scott, Democrat Elizabeth Warren, Mark Bialek, Warren, Scott, Bialek, David Morgan, Costas Pitas, Paul Thomasch, Stephen Coates Organizations: Banking, Housing, Urban Affairs Committee, Capitol, REUTERS, WASHINGTON, Democrat, Reuters, Republicans, Democrats, Congress, Silicon Valley Bank, Signature Bank, Federal, Pentagon, Fed, Senators, Thomson Locations: Washington , U.S, Silicon, Congress

☆ Jeffrey Epstein withdrew up to $80,000 in cash 'several times a month' while he paid girls for 'massages,' court filings say
▼ + stars: | 2023-07-25 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

At the time, there were reports that he paid cash to girls for "massages" — a code word for sex. When asked about the large withdrawals, Epstein said he needed to pay for jet fuel. JPMorgan's private bank has a policy to "discourage" large cash deposits and spending. Bankers, according to an excerpt of the guidelines filed in court Tuesday morning, are responsible for getting clients to explain their large cash withdrawals. "Issue is he really never stopped the large cash withdrawals," a compliance officer wrote then.

Persons: Jeffrey Epstein, Epstein, Morgan, Jeffrey Epstein's, James, Emily Michot, Ghislaine Maxwell, sexualized massages, Glenn Dubin, Sergey Brin, Bill Gates, Leon Black, Larry Summers, Prince Andrew, Ehud Barak, Thomas Pritzker, Benjamin Netanyahu, JPMorgan, Alexander Acosta, Mr, John Duffy, Mary Erdoes, Erdoes, Duffy Organizations: JPMorgan, Morning, JPMorgan Chase, Private Bank, Banker, Islands, US Virgin Islands, U.S ., Miami Herald, Tribune, Service, Getty, Virgin Islands, police, US, Office, Southern, of Locations: Little St, U.S, U.S . Virgin Islands, Palm Beach, Sultan, Dubai, Prince, Florida, of New York

JPMorgan Chase executive Mary Callahan Erdoes sought advice for a $600 million tax issue from disgraced former financier Jeffrey Epstein in 2005, legal filings alleged. The USVI in court filings Monday night asked the court for partial summary judgment in its favor. In a deposition this year, Erdoes acknowledged that JPMorgan was aware of the accusations against Epstein by 2006. JPMorgan agreed to pay $290 million to settle a lawsuit from Epstein's victims, but the USVI suit has continued. On that, JPMorgan had this statement: "Jeffrey Epstein was in Florida where many of Madoff's victims lived.

Persons: Mary Callahan Erdoes, Jeffrey Epstein, Epstein, Erdoes, Jes Staley, Bernie Madoff, Staley Organizations: JPMorgan Chase, Virgin, JPMorgan Locations: U.S, Manhattan, Florida

JPMorgan countered that the U.S. Virgin Islands was also to blame for allowing Epstein's sexual abuse of young women and teenage girls, saying the territory used its powers to enable these crimes. The U.S. Virgin Islands is suing JPMorgan for at least $190 million, saying the bank ignored red flags about Epstein because he was a wealthy and lucrative client from 1998 to 2013. Ahead of a scheduled Oct. 23 trial, the U.S. Virgin Islands wants a judge to declare that JPMorgan participated in Epstein's sex trafficking and obstructed law enforcement. The U.S. Virgin Islands has already received more than $105 million from Epstein's estate, and reached a settlement with billionaire Leon Black, a former Epstein friend. The case is U.S. Virgin Islands v. JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No.

Persons: Jeffrey Epstein, Epstein, Ghislaine Maxwell, Mary Erdoes, Frick, Erdoes, Leon Black, JPMorgan, Jonathan Stempel, Stephen Coates Organizations: YORK, U.S . Virgin Islands, JPMorgan Chase, JPMorgan, U.S . Virgin, U.S ., New, Virgin, JPMorgan Chase Bank NA, U.S, Court, Southern District of, Thomson Locations: U.S, Manhattan, U.S . Virgin, New York, Southern District, Southern District of New York, Bengaluru

☆ JPMorgan, Snap, and other employers are giving $1,700 Snoos to employees with newborns as part their parental benefits packages
▼ + stars: | 2023-07-25 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Dozens of companies are offering their employees Snoos for free or at reduced costs. The cribs, which cost $1,700, are available for free at companies like JPMorgan and Snap. Some new parents of corporate America are receiving more than just paid parental leave and lactation rooms from their employers. Companies like JPMorgan Chase, Snap, Hulu, and Activision Blizzard are among those offering the devices to employees, according to Happiest Baby. The Snoo benefit is one of many new parental benefits that companies are beginning to offer their employees with babies amid a childcare crisis.

Persons: JPMorgan Chase, Milt Ezzard, Ezzard, WorkLife Organizations: JPMorgan, Companies, Activision Blizzard, Employers, JPMorgan Chase, Hulu, Paypal, Snoos, Street Journal, Financial Times

☆ Conservatives are protesting Greta Gerwig's feminist blockbuster 'Barbie' by setting dolls on fire and calling for boycotts
▼ + stars: | 2023-07-25 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Some conservatives aren't happy about Greta Gerwig's new blockbuster, "Barbie." Now the dolls themselves have been targeted, culminating in a fiery stunt by Ben Shapiro. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyGreta Gerwig's "Barbie" blockbuster has sparked a fiery reaction from some conservative commentators. This was the case for Ben Shapiro, who was so irate that he set alight Barbie dolls worth an estimated $69. "The 2023 Barbie movie, unfortunately, neglects to address any notion of faith or family, and tries to normalize the idea that men and women can't collaborate positively (yuck)," she continued.

Persons: Greta Gerwig's, Barbie, Ben Shapiro, Matt Gaetz, Ginger, Ginger Gaetz, Ryan Gosling's, Ken, Jack Posobiec, Gaetz, Gosling's, Posobiec, Piers Morgan, Morgan, I'd, Tesla, Elon Musk, Musk Organizations: Mattel, Service, Republican, Washington DC, Twitter, New York Locations: Wall, Silicon, Republican Florida, Washington

"The major thing that we see now is onshore-traded Country Garden bonds going down," he said. Country Garden is a giant with thousands of projects in nearly 300 Chinese cities. Li Changjiang, the president of Country Garden Services, sold 3.2 million shares of the company last week, reducing his stake to 0.11% from 0.21%. They also cut its price target to HK$0.9 from HK$2.3 and that of Country Garden Services Holdings to HK$6.7 from HK$22. "Distressed Chinese property developers’ bond restructurings can buy them some room," Fitch Ratings said in a report on Monday.

Persons: Longfor, Wanda, Yao Yu, Morgan Stanley, Morgan, Li Changjiang, Fitch, Jason Xue, Tom Westbrook, Clare Jim, Xie Yu, Georgina Lee, Marc Jones, Kim Coghill, Jamie Freed, Barbara Lewis, Christina Fincher Organizations: HK, Dalian, Garden, Country Garden Services, Garden Holdings, Garden Services Holdings, China, Greenland Holdings, Ocean Group, Thomson Locations: SHANGHAI, SYDNEY, China, Hong Kong, Evergrande, Cayman Islands, Shanghai, Sydney, London

The complex interplay between the transition, policy, economic performance and consumer preferences have made it harder than ever to forecast gasoline demand. Since then, the post-pandemic transition to a hybrid workplace has cut fuel demand for commuting. With the difficulty of predicting where gasoline demand goes from here, the EIA has revised its forecast several times this year. In January, it pegged demand this year at 8.74 million bpd, a fall from 8.76 million bpd last year. JPMorgan estimates that efficiency gains and EV sales wiped around 100,000 bpd from gasoline demand last year.

Persons: Aimee Dilger, Ciaran Healy, Healy, Joe Biden, Barack Obama, Biden, Alex Hodes, Patrick De Haan, Shariq Khan, Simon Webb, Marguerita Choy Organizations: REUTERS, U.S, International Energy Agency, Energy Information Administration, EIA, Reuters, IMPACT, JPMorgan, Trump, EV, Environmental Protection Agency, Reuters Graphics U.S, StoneX, Thomson Locations: Wilkes, Barre , Pennsylvania, U.S, Midwest, Paris, Russia, Ukraine

☆ The U.S. is likely headed for a recession in end-2023 or early 2024, JPMorgan says
▼ + stars: | 2023-07-24 | 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 EmailThe U.S. is likely headed for a recession in end-2023 or early 2024, JPMorgan saysJonathan Liang of JPMorgan Asset Management says tightening credit conditions will probably be the "primary driving force."

Persons: Jonathan Liang Organizations: JPMorgan, JPMorgan Asset Management

☆ Electric helicopters could replace rideshares. How to invest in this 'evolutionary' technology
▼ + stars: | 2023-07-23 | by ( Alex Harring | ) www.cnbc.com time to read: +7 min

"It's more of an evolutionary technology than a revolutionary technology." But Cowen managing director Cai von Rumohr said investors should be prepared for timelines to be pushed back, as this is still considered "early-stage tech." "Given the push for climate and to basically reduce carbon emissions, I think, at some point, there's going to be a market," von Rumohr said. The outlook is still clouded by many variables, von Rumohr said. "It's definitely an important investment opportunity for investors," Moeller said.

Persons: Harry Potter, Austin Moeller, Moeller, Archer, Joby, Cowen, Cai von Rumohr, von Rumohr, Lilium, Von Rumohr, Marco Iachini, Vanda Research's, Bill Peterson, It's Organizations: Archer, Federal Aviation Administration, FAA, Toyota, Stellantis, Air Force, Aerospace, JPMorgan

☆ Meet a lawyer who turned a pandemic-era freelance gig into his full-time work, travels the world, and has already made more than $100,000 this year
▼ + stars: | 2023-07-23 | by ( Madison Hoff | ) www.businessinsider.com time to read: +6 min

Derrick Morgan Jr. turned his freelance work while working at a law firm into a full-time gig. Morgan lands freelance work through the freelance-site Fiverr, where his starting price for different trademark services vary. Additionally, he has his own full-service law firm, but didn't disclose how much money he makes from this to Insider. He actually got started in trademark-attorney work during the pandemic while working for a law firm. "I would take three international trips a year just because I had the flexibility with my law firm," he said.

Persons: Derrick Morgan Jr, he's, Morgan, I've, —, Fiverr, Selina Organizations: Service, — Locations: Wall, Silicon, Europe, Hungary, Croatia, Monaco, Italy, Iceland, Mexico City, Chicago, Asia, Fiverr

☆ Smith scores brace to power champions US past Vietnam
▼ + stars: | 2023-07-22 | by ( Amy Tennery | ) www.reuters.com time to read: +3 min

[1/5] Jul 22, 2023; Auckland, NZL; USA forward Sophia Smith (11) gets the ball past Vietnam forward Huynh Nhu (9) in the second half of a group stage match in the 2023 FIFA Women's World Cup at Eden Park. The four-times champions have put their trust in the next generation this year and were rewarded with a showstopping performance from the 22-year-old forward, who also provided the assist for co-captain Lindsey Horan's goal in the second half. "We tried to be more tactical, skillful," Vietnam coach Mai Duc Chung told reporters via a translator. The U.S. face the Netherlands on Thursday in their second Group E game, a rematch of the 2019 World Cup final, while Vietnam next play Portugal. "The first one is in the books and the focus immediately shifts to game two," Andonovski said.

Persons: Sophia Smith, Huynh Nhu, Jenna Watson, Lindsey Horan's, Tran Thi Kim Thanh, Alex Morgan's, Vlatko Andonovski, Smith, Horan, Mai Duc Chung, Megan Rapinoe, Rose Lavelle, Andonovski, Amy Tennery, Robert Birsel Organizations: FIFA, USA, Sports AUCKLAND, Vietnam, Thomson Locations: Auckland, NZL, USA, Vietnam, Eden, United States, Morgan, U.S, Netherlands, Portugal

☆ Fox News anchors are practically begging Trump to participate in their GOP presidential debate next month
▼ + stars: | 2023-07-22 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

Fox News personalities are chomping at the bit for Donald Trump to participate in their GOP debate. Several Fox News anchors are practically begging former President Donald Trump to attend their GOP presidential debate on August 23 in Milwaukee, Wisconsin, The Washington Post reported. "When you have a big lead, you don't do it," Trump told Fox News host Maria Bartiromo last week. When the network hosted a GOP debate in August 2015 (wherein Trump famously sparred with Megyn Kelly), the network drew in 24 million views, the Post reported. When Trump pulled out of another Fox debate months later, the network logged about half as many views.

Persons: Donald Trump, Trump, Maria Bartiromo, Steve Doocy, Brian Kilmeade, John Roberts, Piers Morgan, Ron DeSantis, Chris Christie, Doocy, he's, Kilmeade, Fox, Frank Luntz, Megyn Kelly Organizations: Fox, Fox News, Trump, Washington, The Washington Post, GOP, Post, Dominion Locations: Milwaukee , Wisconsin

☆ A 31-year market vet warns stocks face at least 23% downside with inflation still too high, a recession looming, and a narrow group of companies driving the current rally
▼ + stars: | 2023-07-22 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

Manufacturing data, inflation data, market breadth, and high rates are warning signals, he says. Bullandbearprofits.comShort-term Treasury rates remaining elevated prove the Fed is going to continue raising rates, Wolfenbarger said. The ISM PMI Manufacturing Index is currently at 46, and readings below 50 mean the economy is contracting. Bullandbearprofits.comAll of this amounts to a bearish outlook for stocks, Wolfenbarger believes. Some in the market are growing fatigued of the recession forecasts as the market surges back toward all-time-highs.

Persons: Jon Wolfenbarger, Wolfenbarger, Wolfenbarger —, Merril Lynch, Piper, Michael Kantrowitz, Kantrowitz, Morgan Stanley, Mike Wilson, Wilson, Morgan Stanley Wilson, there's Organizations: Federal, JPMorgan, Bull, CPI, Cleveland Fed, University of Michigan, PMI

☆ Barbie is everywhere this summer. Here are the stocks that can benefit from the highly anticipated film
▼ + stars: | 2023-07-21 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

But can the same be said for Mattel shares? Mattel stock is up more about 19% on a year to date basis after a mixed start to the year. Into the Barbie release, the stock reflects the growing buzz. Mattel shares moved from $17.59 on June 1 to breaking into the $20 range for the first time since February. Though Barbie is not a typical film in the space given its adult audience, Jefferies analyst Andrew Uerkwitz said, it can still help Mattel sales incrementally.

Persons: Gordon Haskett, Don Bilson, Greta Gerwig, Margot Robbie, Ryan Gosling, Bilson, Goldman Sachs, Stephen Laszczyk, Davidson, Linda Bolton Weiser, Bolton Weiser, Barbie, Brett Feldman, Jefferies, Andrew Uerkwitz, Roth, David Bellinger, Bellinger, Mario, Morgan Stanley, Benjamin Swinburne, ramped, Oppenheimer, Laszczyk, David Karnovsky, Karnovsky, — CNBC's Michael Bloom Organizations: Mattel, Warner Bros, Lions, Lions Gate, Hasbro, MAT, Analysts, Universal Pictures, Mario Bros, Hollywood, JPMorgan, CNBC, Alliance, Television Producers, Guild of America Locations: 2H23

The New York couple charged with trying to launder $4.5 billion in bitcoin stolen in a 2016 hack of Bitfinex appear set to plead guilty in the case. An information is a type of charging document that federal prosecutors typically use when defendants have agreed to plead guilty. Judge Colleen Kollar-Kotelly on Friday ordered prosecutors and defense lawyers to provide plea paperwork to her by Thursday, the docket shows. The couple was not charged in the hack of the Hong Kong-based cryptocurrency exchange. The bitcoin stolen in the hack was worth just $70 million at the time of the theft, but soared in value in the following years.

Persons: Ilya Lichtenstein, Heather Rhiannon Morgan, Lichtenstein, Morgan, Colleen Kollar, didn't Organizations: D.C, Attorney's, CNBC, Prosecutors, Department of Justice, Netflix Locations: York, Washington, United States, Russian, U.S, Hong Kong

Looking for a USA vs. Vietnam Women's World Cup live stream? How to watch USA vs. Vietnam live stream from anywhereWhile various countries offer free Women's World Cup live streams, most only provide them for select games, with local teams prioritized for guaranteed broadcasts. How to watch USA vs. Vietnam Women's World Cup with a VPNSign up for a VPN if you don't have one. Upcoming FIFA Women's World Cup gamesAhead, we list a schedule of notable matchups happening over the next few days. For help tracking down these games, check out our complete guide on how to watch FIFA Women's World Cup live streams.

Persons: you'll, Alex Morgan, Megan Rapinoe, ExpressVPN, Peacock Organizations: United States, USA, FIFA, BBC, USA Fox, Fox Sports, Telemundo, ITV, South, BBC New Zealand Locations: Vietnam, soccer, USA, United States, BBC Zambia, Japan, England, Haiti, ITV Denmark, China, BBC Sweden, Africa, BBC Netherlands, Portugal, BBC France, Jamaica, ITV Italy, Argentina, ITV Germany, Morocco, ITV Brazil, Panama, ITV Colombia, South Korea, BBC New, Philippines, ITV Switzerland, Norway

☆ US couple accused of laundering crypto from Bitfinex hack reach plea deal
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, July 21 (Reuters) - An American couple accused of laundering $4.5 billion in cryptocurrency stolen from the 2016 hacking of virtual currency exchange Bitfinex have entered into a plea agreement with federal prosecutors in Washington, court records showed on Friday. They are set to appear for a plea hearing on Aug. 3 before U.S. District Judge Colleen Kollar-Kotelly in Washington, court records showed. A lawyer for Lichtenstein and Morgan and a spokesperson for the U.S. Attorney's office in Washington did not immediately respond to requests for comment. The pair was accused of conspiring to launder more than 100,000 bitcoin that was stolen, after a hacker attacked Bitfinex and initiated more than 2,0000 unauthorized transactions. Reporting by Luc Cohen in New York; editing by Jonathan Oatis and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Ilya Lichtenstein, Heather Morgan, Colleen Kollar, Lichtenstein, Morgan, Bitfinex, Luc Cohen, Jonathan Oatis, Marguerita Choy Organizations: YORK, U.S, Thomson Locations: American, Washington, Manhattan, New York

Roughly 150 S & P 500 companies are slated to report next week, including Microsoft , Coca-Cola and Boeing . Tech giant Meta Platforms , slated to report Wednesday, has had its earnings estimates hiked by more than 21% over the past three months. The average earnings per share estimate for the automotive giant is up 22% in the past three months. The company is slated to report earnings Tuesday before the bell. Analysts on average have raised their earnings estimates by 38% over both the past three and six months.

Persons: Nick Raich, Doug Anmuth, General Motors, Tesla, — CNBC's Michael Bloom Organizations: Microsoft, Boeing, Investors, CNBC Pro, Tech, Meta, Facebook, JPMorgan, General, GM, Alaska Air, Royal Locations: America, Royal Caribbean

CNN —Soccer players at the 2023 Women’s World Cup will on average earn just 25 cents for every dollar earned by men at their World Cup last year, a new CNN analysis found. In addition to prize money, FIFA committed to paying $42 million to the federations and players’ clubs for Women’s World Cup preparations. Havana Solaun (R) and Jamaica are appearing at their second ever Women's World Cup. But for the players, equal pay encompasses more than simply closing this gap to the salaries enjoyed by male footballers. June 2023 A record $110 million prize pot negotiated for the Women’s World Cup, at least $30,000 guaranteed for every player.

Persons: Gianni Infantino, Sam Kerr, Megan Rapinoe, Alex Morgan, Bob Marley’s, Cedella, Havana Solaun, Brendon Thorne, hadn’t, Jamaica’s Chinyelu Asher, ”, ” Asher, Asher, Saeed Khan, Morgan, Rapinoe, Cristiano Ronaldo, Brad Smith, ” Jonas Baer, Hoffmann, FIFPRO’s, It’s, that’s, –, Infantino, Baer, “, ringfenced, Ali Riley, CNN’s Amanda Davies, Riley, “ It’s, ” Ali Riley, Catherine Ivill, Women’s Soccer Australia Heather Reid, ” Riley, England’s Lionesses, ” FIFPRO’s Baer, – Carli Lloyd, Hope, Becky Sauerbrunn –, ” Lloyd, — Jan, USWNT, Lloyd, ” Reid, ’ Organizations: CNN — Soccer, CNN, FIFA, New Zealand, Women’s, US, National, Australia, Havana, Getty, Jamaica Football Federation, ’, CNN Sport, Forbes, USSF, CONCACAF, Africa, of Nations, Olympic, –, Canada Soccer, teams, Women’s Soccer Australia, English Football Association, French Football Federation, Royal Belgium Football Association, FIFA’s, US Soccer, States Women’s National, Football Federation, USWNT, Soccer, Court, Central, Central District of, The New York Times, LA Times, Guardian, Reuters, “ Locations: Australia, New, New Zealand, Jamaica, Canada, South Africa, Spain, Havana, AFP, France, Infantino, Germany, Iceland, Netherlands, Norway, United States, Qatar, country’s, Sweden, Spanish, England, Central District, Central District of California, Canadian, El, China

☆ Hollywood strike may soon turn destructive for media stock investors, analysts say
▼ + stars: | 2023-07-20 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

"We're getting to a point of being very destructive to the entertainment ecosystem," said Rosenblatt Securities analyst Barton Crockett. Bazinet said to expect the walkout to last into the fourth quarter, which would mean a writers' strike lasting between around 150 and 240 days and an actors' strike in a range of 70 and 160 days. The strikes could cost the film and TV industry about $150 million per week, Citigroup's Bazinet wrote, using inflation-adjusted data from the 1980 actors' strike. "The lasting impacts are: [it] makes the streamers stronger and the traditional media companies weaker," Crockett said. JPMorgan analyst David Karnovsky downgraded movie theatre chain Cinemark shares to neutral from overweight earlier this week, citing the strike.

Persons: We're, Barton Crockett, Jason Bazinet, Bazinet, Douglas Mitchelson, Mitchelson, Goldman Sachs, Brett Feldman, Philip Cusick, Cusick, Goldman's Feldman, Citigroup's Bazinet, Rosenblatt's Crockett, Crockett, Feldman, Barbie, Oppenheimer, Stephen Laszczyk, David Karnovsky, Karnovsky, — CNBC's Michael Bloom Organizations: Screen, – American Federation of Television, Radio Artists, Alliance, Television Producers, Writers Guild of America, Rosenblatt Securities, Media, AMC, Disney, Warner Bros, Discovery, Paramount, Netflix, UFC, Endeavor, WWE, SAG, Credit Suisse, JPMorgan, AMC Networks, WBD, Covid, Comcast, CNBC

☆ Meet 17 medical doctors at VC firms like GV and Khosla Ventures who are investing in the next big healthcare startups
▼ + stars: | 2023-07-20 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

Some medical school graduates are bringing their expertise to the world of startup investing. Take a look at 17 doctors who are now investing at VC firms like GV and Khosla. And still others, including Khosla Ventures' Alex Morgan and Galym Imanbayev of Lightspeed Venture Partners, jumped directly to a VC firm after graduating from medical school. Even so, VCs with medical degrees all say they feel that their medical school training has been invaluable in terms of understanding a health startup's business. Take a look at Insider's list of 17 medical doctors who are now VCs at top firms like GV, Khosla Ventures, and more.

Persons: —, laud, Mark Zuckerberg, Larry Ellison, Jack Dorsey, Chris Kager, Robert Mittendorf, Alex Morgan, Galym, Alice Zheng Organizations: MDs, GV, Khosla, Global Health, Khosla Ventures, Lightspeed Venture Partners, University of Michigan Medical School, RH Capital

☆ AT&T bounces back after it eases fears over lead cable exposure
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +1 min

July 19 (Reuters) - Shares of AT&T (T.N) rose 5% in premarket trading on Wednesday after the telecom company said lead cables made up only a small part of its wireline network, easing fears of an expensive clean-up. Several brokerages including J.P. Morgan and Citi had downgraded AT&T after the report, which said the cables may have contaminated neighboring soil and drinking water sources. AT&T said on Tuesday lead-clad cables "represent less than 10% of its copper footprint of roughly two million sheath miles of cable, the overwhelming majority of which remains in active service." AT&T shares have fallen about 14% since the WSJ report and hit a three-decade low on Monday, while Verizon has lost about 10%. AT&T is scheduled to report its second-quarter results next Wednesday.

Persons: Morgan, Samrhitha, Anil D'Silva Organizations: Verizon, Wall, Citi, Thomson Locations: Bengaluru

[1/4] President and CEO of AB Volvo Martin Lundstedt is seen on the day of the presentation of Volvo Group's Q2 2023 earnings report, in Gothenburg, Sweden, July 19, 2023. Adam Ihse/TT News Agency/via REUTERSCompanies Volvo AB FollowSTOCKHOLM, July 19 (Reuters) - Swedish truckmaker AB Volvo (VOLVb.ST) on Wednesday logged a better-than-expected 57% jump in second-quarter adjusted operating profit, helped by price hikes. "We have been successful in improving margins while managing cost inflation and increased disturbances in the supply chain," Chief Executive Martin Lundstedt said in a statement. Operating profit before restructuring charges and legal claims surged to 21.7 billion crowns ($2.1 billion), beating a Refinitiv consensus estimate of 18.4 billion crowns. Reporting by Marie Mannes; editing by Anna Ringstrom, Jason Neely and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Volvo Martin Lundstedt, Adam Ihse, Martin Lundstedt, Lundstedt, Marie Mannes, Anna Ringstrom, Jason Neely, Edwina Gibbs Organizations: Volvo, TT, Agency, REUTERS Companies Volvo, STOCKHOLM, truckmaker, JPMorgan, Thomson Locations: Gothenburg, Sweden, Europe, North America, Stockholm

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