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The banks, in turn, make shareholders happy by reporting lower compensation costs since deferred compensation is marked as a liability. At Morgan Stanley, advisors forfeit this pay if they leave for another employer before four years of service. This ruling was used by a lawyer on another case, Alan Rosca, to secure a $3 million judgment against Morgan Stanley on March 25. In November, Morgan Stanley successfully fought off a class action attempt by 12 ex-Morgan Stanley advisors. Lawyers told Business Insider that the award and the ruling in Shafer v. Morgan Stanley will likely inspire more ex-advisors to sue.
Persons: , Morgan Stanley, Morgan Stanley's, Alan Rosca, Cerulli, Rogge Dunn, Biden, Dunn, Goldman Sachs, Spencer Platt, Rosca, It's, Shafer, Judge Paul Gardephe, Meaghan VerGow, Pamela Miller, O'Melveny, Jack Edwards, Edwards, Street Former Morgan Stanley, Phil Waxelbaum, They've, you've, — Rosca, Waxelbaum, We're Organizations: Service, Wall, Business, Advisors, Biden Administration, FTC, Getty, Financial Industry Regulatory Authority, Street Former, Ajamie LLP, JPMorgan Locations: Cleveland, Dallas, New York, Shafer, Houston, Wells
Read previewZachary Timms, a project engineer in Houston, has rules around how he does happy hour with coworkers. Late-afternoon spending may have slipped in New York, per Square data, but post-work socializing seems to be going strong later in the evening for office workers. Seasoned employees warning younger colleagues about bringing out their "weekend personality" at work happy hour haven't always deterred the newest class. One TikToker shared her excitement for 5:01 p.m. this summer and the start of happy hour with colleagues. Advertisement"Just a quick reminder that you were actually more drunk and annoying at that work happy hour than you remember," TikToker Jack Lawler advised.
Persons: , Zachary Timms, Timms, Zachary Timms He's, Shadé Smith, I've, Ara, Kharazian, TikToker, TikToker Jack Lawler, Brown, Gen Zers Organizations: Service, Business Locations: Houston, New York, NYC's, Irish
CNN —Angelina Jolie and Brad Pitt’s fight over the French winery they once owned together is coming to a head and reigniting older conflicts, as new legal documents allege a “history of physical abuse of Jolie” on the part of Pitt prior to their fateful plane ride in 2016. Pitt refused to purchase Ms. Jolie’s interest when she would not be silenced by his NDA. The ongoing legal proceedings and “Pitt’s unyielding attempts to control and punish Jolie continue to take a huge emotional and financial toll on her and their family,” the filing reads. Legal proceedings as they pertain to the Miraval dispute also remain ongoing. The former couple purchased the country estate and winery in the south of France in 2008.
Persons: Angelina Jolie, Brad Pitt’s, Jolie ”, Pitt, Jolie, ” Jolie, , , Mr, ” Paul Murphy, Brad, del, Yuri Shefler, “ Jolie Organizations: CNN, Los Angeles Superior Court, ” CNN, FBI, Pitt, Stoli Locations: France, Los Angeles, Russian
Even by a conspiracy theorist’s standards, the wild claims made by Representative Clay Higgins, Republican of Louisiana, stand out. The hard-right congressman, now in his fourth term in the House, has said that “ghost buses” took agent provocateurs to the Capitol on Jan. 6, 2021, to instigate the riot. He has claimed that the federal government is waging a “civil war” against Texas. And he has called the criminal charges against former President Donald J. Trump for mishandling classified documents a “perimeter probe from the oppressors.”But far from relegating Mr. Higgins to the fringe of their increasingly fractious conference, House Republicans have elevated him. None of it has dampened Mr. Higgins’s penchant for spreading unsupported theories, many of which portray law enforcement and the government in an evil, conspiratorial light.
Persons: Clay Higgins, provocateurs, Donald J, Trump, Higgins, Mike Johnson Organizations: Republican, Capitol, Texas, House Republicans Locations: Louisiana
Disney fended off the activist investor Nelson Peltz for the second time in two years, as its shareholders rejected his effort to win two seats on its board. The House of Mouse claimed a “substantial” margin of victory, after a bitterly fought contest with Peltz and his major backer, the former Marvel chair Ike Perlmutter. Based on preliminary results from Wednesday’s annual investor meeting, Disney’s board candidates won the backing of 75 percent of individual shareholders, an outsize investor base. But like any good Disney tale, the board fight provided a series of lessons for the future — for companies and activists alike. That included cost-cutting efforts, an investment in the video game giant Epic Games and a shake-up in the struggling movie division.
Persons: Iger, Nelson Peltz, Mouse, Peltz, Ike Perlmutter, Bob Iger Organizations: Disney, Marvel, Wall Street
"The talent war for AI is the craziest talent war I've ever seen!" Advertisement"They have been aggressively recruiting Tesla engineers with massive compensation offers and have unfortunately been successful in a few cases," Musk wrote about OpenAI. Related storiesMusk and xAI didn't immediately respond to a request for comment from Business Insider before publication. AdvertisementHiking salaries is one of a series of tactics Big Tech leaders use to recruit the best AI talent. "There is undoubtedly a shortage in AI talent," Libre says.
Persons: , Elon Musk, Tesla, Ethan Knight, Knight, Musk, didn't, Alex Libre, Mark Zuckerberg, Google's, Sergey Brin, Mustafa Suleyman, Google's DeepMind, Aravind Srinivas, J.T, O'Donnell Organizations: Service, Business, Autonomy, Big Tech, Meta, Google, OpenAI, Companies Locations: OpenAI
Millennials and members of Gen Z both love Cartier watches, but they prefer different styles. But online, fashion preferences have become more like a battle between millennials and members of Gen Z. Advertisement"There's a joke that millennials love the Cartier Panthère, and Gen Z loves Cartier Baignoires right now," Trang Trinh, a watch aficionado who runs the TikTok account Girls O'Clock, told Business Insider. Millennials vs. Gen Z: Cartier editionSo, why do millennials love the Panthère style? Panthère watches retail for prices between $3,300 and $134,000, and Baignoires cost between $6,900 and $102,000.
Persons: Millennials, Gen, Cartier, , Gen Z, Sotheby's, Charlie Chaplin, Keith Richards, Pierce Brosnan, Trinh, It's Organizations: Service Locations: millennials
The group’s officials, and many national Republicans, worry that Democrats have built a major strategic advantage by marshaling their voters to cast ballots early while G.O.P. That phenomenon stems largely from former President Donald J. Trump’s persistent falsehoods about mail voting — amplified at times by Turning Point Action officials — and the deep skepticism they have created among conservative voters. Now an urgent search for a solution is underway, with Turning Point Action at the forefront. They will follow a few simple steps: Identify Republican-leaning voters who have not turned out in the past two elections. “You’re each going to have assignments of hundreds of people,” Tyler Bowyer, the group’s chief operating officer, explained to about 20 trainees last week.
Persons: Donald J, ” Tyler Bowyer, Organizations: Republican Party, Republicans Locations: Phoenix, Arizona and Wisconsin
Eight passengers were left stranded on São Tomé and Príncipe after missing a cruise ship's boarding deadline. After missing the boarding deadline, the eight people were stuck in São Tomé and Príncipe, an island nation of some 220,000 people off West Africa. It took them six days to get back on the Norwegian Dawn cruise ship, as they missed a chance to re-embark in Gambia before finally getting on board in Senegal. AdvertisementShe explained that cruise lines will hold the ship for passengers on an excursion organized by the company. Jill Campbell, one of the stranded passengers, told NBC News she believed Norwegian Cruise Line had fallen short in a '"basic duty of care."
Persons: , Gracie O'Connor, O'Connor, Tomé, you've, Jill Campbell Organizations: Service, Norwegian, NBC News, Norwegian Cruise Locations: Norwegian, West Africa, Gambia, Senegal
The Death MarchThat surrender site in Balanga doesn’t mark the beginning of the Bataan Death March. “It looked like they were really trying to kill us all.”White markers along a highway on the Bataan Peninsula show the route from the 1942 Bataan Death March. A boxcar used during the infamous 1942 Bataan Death March, displayed at the Capas National Shrine in Tarlac Province, north of Manila. All but Meyer also survived the Bataan Death March. A relief depicts the 1942 Bataan Death March on the Death March Memorial in Capas, Philippines.
Persons: Philippines CNN —, Edward P, King, Franklin Roosevelt, Douglas MacArthur, Edward King, , , , Matoo Nakayama, Masaharu Homma, Camp O'Donnell, AP Survivor James Bollich, ” Bollich, Brad Lendon, Tillman R, Rutledge, O’Donnell, defecated …, , Manuel Abrazado, Emilio Aquino, Romeo Gacad, MacArthur’s, Robert Overbeck, Calvin Graef, Avery Wilber, Donald Meyer, Anton Cichy, Meyer, Overbeck, They’d, Charles, ” Overbeck, Arisan Organizations: Philippines CNN, Museum, Balanga Elementary, Bataan, Bettmann, US Army, US Navy, Gen, Army, AP Survivor, Air Force News Service, CNN, US Clark Air Base, Kyodo, Heritage Command, US Defense, Agency, Disabled, Getty, Mount, 14th Air Force, former Flying Tigers Locations: Philippines, Philippine, Bataan, American, Corregidor, Bataan As, Harbor, Hawaii, Luzon, Manila, Gen, Marileves, Mariveles, Capas, San Fernando, Tarlac Province, , O’Donnell, ., Balanga, Tarlac province, AFP, Japan, China, Bashi, Taiwan, South China, Kunming, Asia, Washington, North Africa, Geneva, Arisan Maru
In return for private labeling her product for Trader Joe's, she was told she would receive a modest finder's fee based on the co-packer's profits—not a percentage of Trader Joe's sales. After sharing samples with the co-packer and sending a counteroffer asking for greater transparency, she never heard back from him or from Trader Joe's. The small brand owners said that Trader Joe's tactics were unlike Costco or other big chains that do private labeling. Trader Joe's did not immediately respond to a request for comment from Business Insider. AdvertisementI love shopping at Trader Joe's not only because it has good prices on staples, but fun new items to try.
Persons: , Joe's, Joe, Stacy's pita, pita, Tribe, Abraham, packer Organizations: Service, Joe's, Costco, Business Locations: Brooklyn Delhi, California, Zara
We're seeking nominations for Business Insider's ninth annual list of the most innovative CMOs. These CMOs are adapting to a fragmented media landscape and the rise of new technologies. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBusiness Insider is seeking nominations for our ninth annual list of the most innovative CMOs in the world. This story is available exclusively to Business Insider subscribers.
Persons: We're, Organizations: Business, Service
Compounding the problem is that Trump is facing a lot of legal troubles, which have been quite expensive. And let’s be clear, Trump is not paying this out of his own pocket. [MUSIC PLAYING]So there’s been a lot of discussion as to how these legal bills are going to get paid going forward. And Lara Trump, the former president’s daughter-in-law, has basically been installed as the co-chair at the Republican National Committee, because, of course, it’s a family business, whatever. [MUSIC PLAYING]And she was asked whether she thought that Republican voters would be cool with the party paying her father-in-law’s legal bills, and she was like, “absolutely.”
Persons: I’m Michelle Cottle, I’m, Donald Trump, he’s, Trump, MAGA, We’re, They’re, Biden’s, there’s, Lara Trump, it’s Organizations: , Republican Party, Republican, Trump, Republican National Committee
Retired Supreme Court Associate Justice Stephen Breyer is worried about a divided America. It concerns many, including retired Supreme Court Associate Justice Stephen Breyer. Attentive listening to the opposing view often "increased the chances of agreement or compromise," Breyer wrote. Though he was one of the broadly liberal justices, Breyer described playing games of bridge with right-leaning Chief Justice William Rehnquist, Justice Anthony Kennedy, Justice Sandra Day O'Connor, and their spouses. "What works for nine people with lifetime appointments won't work for the entire nation, but listening to one another in search of a consensus might help," Breyer wrote.
Persons: Stephen Breyer, Breyer, , William Rehnquist, Anthony Kennedy, Sandra Day O'Connor, Gen Organizations: New York Times, Service, The New York Times Locations: America, Gaza, Ukraine
Meanwhile, Wells Fargo called for 20% upside for Meta Platforms and raised one of its estimates for the company's ad sales. Despite those positive trends, the new price target from KBW is still below the stock's closing level on Tuesday of $245.84. — Jesse Pound 5:53 a.m.: Redburn Atlantic upgrades UPS UPS could be in for strong gains after a slow start to the year, according to Redburn Atlantic. Analyst Oliver Holmes upgraded the package delivery giant to buy, raising its price target to $180. "We believe UPS is at, or close to, trough revenue, volume, margin and share price levels," Holmes wrote to clients.
Persons: Wells, Tesla, Gary Mobley, Wolfspeed, Mobley, Wells Fargo, — Jesse Pound, Ronald Jewsikow, Guggenheim, Jewsikow, Richard Shane, Shane, Coinbase, Keefe, Kyle Voigt, Voigt, Ken Gawrelski, Gawrelski, Oliver Holmes, Holmes, Fred Imbert, ~ ~ . Organizations: CNBC, Wednesday, UPS, Hyundai, Guggenheim, JPMorgan, ADV, SEC, Meta, Wall, ~$ Locations: Wells Fargo, 4Q23 ., Tuesday's
Here are nine AI jobs that don't require programming skills, from policy analysts to sales engineers. AI product managerCompanies are looking to hire professionals who can bridge the gap between technical AI development and business acumen. Ideal candidates combine a deep technical understanding with "strong sales and communication" skills to demonstrate value to potential clients. AI business analystCompanies new to AI may wonder just how and where to deploy the technology. AI policy analystExpertise in public policy may help you land a job as an AI policy analyst.
Persons: , they're, J.T, O'Donnell, Alex Libre, Biden Organizations: Service, LinkedIn, Einstellen, Companies, Employees, CIA
A transatlantic United Airlines flight was diverted around an hour into its journey on Sunday. An airline spokesperson told BI the Boeing 787 had a crack in its windshield. AdvertisementA United Airlines plane heading from Denver to London was diverted on Sunday due to a crack in its windshield. A spokesperson for United told Business Insider that the plane "landed safely in Chicago to address a crack in one layer of its multilayer windshield." This story is available exclusively to Business Insider subscribers.
Persons: Organizations: United Airlines, Boeing, Service, Airlines, Chicago O'Hare, United, Business Locations: Denver, London, Chicago
Microsoft unbundles, againMicrosoft is separating Teams, its popular video and chat app, from its Office software suite in markets around the world, broadening a split that began in the European Union last fall. It appears to be the latest effort by the software giant to head off investigations by global antitrust enforcers as regulators examine the power of Big Tech. Microsoft first added the video and document collaboration program to its business software suite in 2017, and saw Teams’s popularity soar after the coronavirus pandemic unleashed a boom in hybrid and remote working. At the height of the lockdown in 2020, Slack filed a complaint with the European Commission accusing Microsoft of anticompetitive behavior by bundling Teams with Office. (Three months later, Slack agreed to sell itself to Salesforce for $27.7 billion.)
Persons: Microsoft unbundles, Slack, Eric Yuan Organizations: Microsoft, European Union, Big Tech, Rivals, Commission
Read previewFans of "American Horror Story" won't have to wait much longer for the show to return. Here's a refresher on what to know about "AHS: Delicate" before it returns. 'AHS: Delicate' is based on a bookKardashian plays Roberts' publicist on "AHS: Delicate." Eric Liebowitz/FXIn a series first, "AHS: Delicate" is based (at least in part) on a novel: "Delicate Condition" by Danielle Valentine. Kim Kardashian, who's new to the "American Horror Story" ensemble, also has a major role as Siobhan Corbyn, Anna's best friend and publicist.
Persons: , Ryan Murphy, Emma Roberts, Billie Lourd, Denis O'Hare, Kim Kardashian, Kardashian, Roberts, Eric Liebowitz, Danielle Valentine, Valentine, she's, Anna Alcott, Andrea Bartz, Halley Feiffer, Feiffer, Murphy, Cara Delevingne, Anna, Siobhan Corbyn, Anna's, Dex, Matt Czuchry, Hill, who's, Leslie Grossman, Siobhan, Anna —, It's, He's, Adeline —, Sonia Shawcross, Adeline, Ms, Preecher, Cora, Delevingne, Ivy, Dex's, Virginia Harding, She's, Mary I of England Organizations: Service, Business, AHS, Entertainment, Hollywood, SAG, Hulu Locations: Virginia
And even though gold prices are at an all-time high, many market watchers are still taking a shine to it. But even with a favorable outlook, gold should play a very different role in your portfolio than stocks or bonds, investing experts say. Why gold is up and could continue to riseDifferent investors cite different reasons for owning gold. In addition to a rising tide, a weakening U.S. dollar and falling bond rates have boosted gold prices of late, says Hayes. At lower rates, bonds and cash accounts "have less of a competitive advantage" over gold, he tells CNBC Make It.
Persons: it's, Tim Hayes, Ned Davis, Warren Buffett, It's, Ford O'Neill, we've, Hayes, Buffett Organizations: Ned, Ned Davis Research, Billionaire, Berkshire Hathaway, Fidelity, CNBC, Federal Reserve, ExxonMobil Locations: Berkshire, U.S
Speaker Mike Johnson has begun publicly laying out potential conditions for extending a fresh round of American military assistance to Ukraine, the strongest indication yet that he plans to push through the House a package that many Republicans view as toxic and have tried to block. The move would also hand Mr. Johnson a powerful parochial win, unblocking a proposed export terminal in his home state of Louisiana that would be situated along a shipping channel that connects the Gulf of Mexico to Lake Charles. “When we return after this work period, we’ll be moving a product, but it’s going to have some important innovations,” Mr. Johnson said on Sunday in an interview on Fox News. That strongly suggests that the aid package for Ukraine, which has been stalled on Capitol Hill for months amid Republican resistance, could clear Congress within weeks. to sending more aid to Kyiv.
Persons: Mike Johnson, Biden, Johnson, , Mr, Johnson’s Organizations: Kyiv, Democratic, Fox News, Capitol Hill, Republican, Republicans Locations: Ukraine, Louisiana, Gulf, Mexico, Lake Charles, Kyiv
Politicians and auto executives on both sides of the Atlantic are calling for more protectionist measures. After Tesla lost its crown to BYD as the world’s biggest E.V. Otherwise, the Tesla C.E.O. said, Chinese E.V. The continent’s auto sector employs 13 million people and generates 8 percent of the bloc’s G.D.P.
Persons: China Tesla, , Warren Buffett, Tesla, Elon Musk, ” Luca de Meo, Vivienne Walt, DealBook, , June’s E.U Organizations: Renault Group’s, Airbus Locations: China, Europe, June’s
Meanwhile, Micron got a price target increase from Bank of America, which sees the chipmaker surging more than 20%. 7:08 a.m.: Jefferies raises forecast on Target Jefferies thinks improving consumer discretionary trends should boost Target shares. The firm increased its price target on the stock to $205 from $195, implying shares gaining 16% from where they closed on Thursday. He upgraded shares to overweight from equal weight and increased his price target by $13 to $59. The bank also revised its bull case price target to $110 from $90, implying upside of nearly 130%.
Persons: Morgan Stanley, Target Jefferies, Corey Tarlowe, Jefferies, Tarlowe, TGT's, — Hakyung Kim, Wells, Roger Read, Read, Hakyung Kim, Brandon Oglenski, Hunt, Robinson, Werner, Oglenski, Anthony Cassamassino, Vivek Arya, Arya, , Morgan, DAL, Fred Imbert Organizations: CNBC, Delta Air Lines, Micron, Bank of America, Jefferies, Target, Devon Energy, Diamondback Energy, EOG Resources, Barclays, J.B, C.H, Werner Enterprises, Bank of America's, Microsoft, Meta, Next, 2Q, Spotify, Citigroup, Marvell, Devices, TAM, Abercrombie, Fitch's Locations: Wells Fargo, Devon, Delaware, Q2'24, Thursday's, DAL
The Republican outrage machine kicked into gear over Easter weekend after President Biden noted that Sunday was being celebrated for more than one reason. International Transgender Day of Visibility is observed every year on March 31. This year, for the second time since Transgender Day of Visibility was established 15 years ago, and the last time until 2086, the two happened to coincide. President Biden publicly honored both of them, as he has done every year since he took office in 2021. He centered the poor,” Mr. Warnock said on CNN on Sunday.
Persons: Biden, Mr, , ” Karoline Leavitt, Donald J, Trump, Jesus Christ, Mike Johnson, , Marsha Blackburn of, Raphael Warnock of, “ Jesus, Warnock, ” Ms, Leavitt, Johnson, ” Andrew Bates, Bates, Bud Light, Biden’s Organizations: Republican, CNN Locations: Marsha Blackburn of Tennessee, Raphael Warnock of Georgia
They are flying cars, they're flying cars,Tom Chitty: These vehicles aren't necessarily actually cars with wheels, either, because I know that you've done you've got a program coming up soon about eVTOL. And the idea is there's going to be a fleet of these run by an operator. You've alluded to this feature program we've got coming out looking at the future of these, these flying cars, basically in these eVTOLs. And also, we can't finish this episode about flying cars and eVTOLs without talking about Chitty Chitty Bang Bang, the OG. Yeah, no, that's, that's very surprising.
Persons: Tom Chitty, Arjun Kharpal, who's, I've, we've, We've, I'm, they'd, I'd, there's, Arjun, that's, we're, you've, there'll, they're, You've, Kharpal, it's, you'll, They've, Morgan Stanley, someone's, What's, they've, They're, Big Ben, Chitty Chitty Bang Bang, Chitty Bang Bang, Tom, We'll Organizations: JPMorgan, CNBC, Mar, Airbus, Archer Aviation, Joby, Infrastructure, Boeing, Heathrow Airport, Civil Aviation Administration, U.S . Federal Aviation Administration, FAA, Autonomy, London, Transport Locations: Spain, China, Europe, Munich, Germany, beyondthevalley@cnbc.com, London, Chinese, Guangzhou, Birmingham, U.S, Manchester, it's, eVTOLs, Battersea, Heathrow
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