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☆ The CEO using AI to fight insurance claim denials says he wants to remove the 'fearfulness' around getting sick
▼ + stars: | 2024-12-12 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Warris Bokhari founded Claimable to tackle insurance claim denials using AI technology. After working in the insurance industry, Warris Bokhari saw that claim denial was a core issue in American healthcare. AdvertisementSo about two years ago, Bokhari launched Claimable, an AI startup aimed at fighting claim denials for a growing list of treatments. When he came to the US, Bokhari continued working in the healthcare industry, including a two-year stint at insurance company Anthem, Inc. In addition to faxing and mailing the appeal to the insurance company, Claimable also sends a copy to every regulator that would have oversight of the insurer.

Persons: Warris Bokhari, Claimable, Bokhari, Brian Thompson, KFF, Walkabout VC Organizations: Inc, FDA, Humanrace

☆ Read the memo Calendly's CEO sent to employees announcing 70 job cuts
▼ + stars: | 2024-12-12 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Calendly laid off around 70 employees in its engineering, customer experience, marketing, and billing teams. BI obtained a copy of CEO Tope Awotona's memo announcing the cuts to staff on Wednesday morning. Calendly previously laid off 60 employees in July 2023 and was valued at $3 billion in 2021. Scheduling platform Calendly laid off around 70 employees — about 13% of its workforce — on Wednesday. This is Awotona's memo sent to employees, shared with BI by two employees:Hi Team I am reaching out this morning to share some difficult news.

Persons: Calendly, Tope, Tope Awotona, Awotona, We've, we've, Jyoti Mann Organizations: Business, Big Tech, Google, Microsoft, Billing, People Team Locations: jyotimann

☆ Chanel announces Matthieu Blazy as its new artistic director
▼ + stars: | 2024-12-12 | by ( Leah Dolan | ) edition.cnn.com time to read: +3 min

CNN —After months of speculation, Chanel has named its new artistic director. On Thursday, Matthieu Blazy — most recently, the creative director of luxury Italian label Bottega Veneta — was appointed to one of the most high-profile jobs in fashion. Blazy is only the fourth head designer of the French fashion house founded in 1910, and follows on from Virginie Viard, Karl Lagerfeld and Gabrielle “Coco” Chanel. She started at Chanel as an intern in 1987 and went on to become Lagerfeld’s deputy for decades, totaling 30 years at the company. I look forward to meeting all the teams and writing this new chapter together.”On Thursday, Bottega Veneta announced Louise Trotter as its new creative director.

Persons: Chanel, Matthieu Blazy —, —, Virginie Viard, Karl Lagerfeld, Gabrielle “ Coco ” Chanel, Dior, Bruno Pavlovsky, “, ”, Kering, Yves Saint Laurent, Gucci, Blazy, Belgian —, Nicholas Ghesquière, John Galliano, Raf Simons, Calvin Klein, Chanel’s, Leena Nair, Lagerfeld, Bottega, Louise Trotter Organizations: CNN, Bottega, Maison Margiela, Chanel Locations: Paris, French, Belgian, Brussels, Chanel

☆ Why Gordon Singer is more powerful than ever at his father's $70 billion firm
▼ + stars: | 2024-12-12 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +10 min

Yet Gordon Singer has more power than ever inside the firm. In 2009, Gordon Singer was named head of Elliott's London office. AdvertisementThese people said that before the restructuring, the Elliott London office could put trades on with the younger Singer's sign-off. Another former investor estimated that the London office had control of up to $7 billion in capital at its peak. Before Bhanji's departure, the most surprising exit was by Levine, a partner who has known Gordon Singer and his brother, Andrew, since they were kids.

Persons: Paul Singer's, Gordon, Singer, Gordon Singer, Elliott, Paul Singer, Nabeel, Jonathan Pollock, institutionalizes, Gordon Singer's, Pollock, Gordon Singer didn't, Jonathan Bush, George W, Bush, Elliott alums, James Bayliss, Mark Levine, Sebastien de La Riviere, Mark Wills, Levine, Andrew, Mark, he's, Gaurav Toshniwal, John Pike, Pike, Pat Frayne, there's, Paul, Giorgio Furlani Organizations: Lehman Brothers, Elliott, Bain, Employees, Europe's, Ken, Financial Times, Sargasso Partners, London, Oxford's Exeter College, Williams College, Italian soccer, AC Milan Locations: London, New York, Elliott London, Italy, Asia, Hong Kong, Tokyo, who's, Italian, Florida

☆ Private Equity Is Pouring Billions of Dollars Into Restaurants. Yikes.
▼ + stars: | 2024-12-12 | by ( Corey Mintz | ) www.businessinsider.com time to read: +16 min

Between 2009 and 2018, the number of fast-casual restaurants in America doubled, while sales have nearly tripled. When the gravy train stops, fast-casual restaurants are going to be in trouble. To understand why private equity is pouring money into restaurants, we have to start with the appeal of the fast-casual model. The limited menu enables both fast-food and fast-casual restaurants to be efficient, keep costs down, and avoid losses from food waste and labor. Because a lot of the weaker players have been weeded out," Susskind says about fast-casual restaurants.

Persons: Charles Grodin, Robert DeNiro, I've, Blackstone, Cava, Alex M, Susskind, that's, Chris Macksey, Olive Garden, Smokey Bones —, Tracy Goh, Damaran Sara, Goh, Talia Berman, Levy, Berman, Moshe Batalion, Thomas Crosby, Crosby, they've, It's Organizations: Sycamore Partners, Bowls, Lobster, Taco Bell, Cornell University, Prix Fixe, Nabisco, Darden, Investment, RioCan, Independent, Pal's, Harvard, University of Chicago's Booth School, Business, Cornell, Rubio's, Mill, Capital Locations: Jersey, America, Manhattan, Taco, Olive, Cava, San Francisco, New York's, Tennessee, Florida, United States, California

CNN —Accompanying his selection as Time’s Person of the Year, President-elect Donald Trump sat down with the magazine for a wide-ranging interview that published on Thursday. “I want to reach an agreement, and the only way you’re going to reach an agreement is not to abandon,” Trump said. He said the war is a “tragedy” with a “staggering” number of people killed on both sides of the conflict. He said he would consider getting rid of some vaccines for children, falsely suggesting autism may be caused by vaccines. Several subsequent studies trying to reproduce the results have found no link between vaccines and autism.

Persons: Donald Trump, ‘, ’, Ukraine Trump, “, ”, ” Trump, “ We’re, Joe Biden, Trump, Volodymyr Zelensky, Vladimir Putin, ’ Trump, We’ll, we’ll, we’re, —, “ I’m, they’ve, Robert F, Kennedy Jr, We’re, Kennedy, he’s “, ” Kennedy, he’s, It’s, Andrew Wakefield, Wakefield, ” “ Organizations: CNN, Capitol, Biden, Army Tactical Missile Systems, Trump, National Guard, NBC, Press, Time, Justice Department, NBC News, Department of Health, Human Services, US Centers for Disease Control, Autism, West Bank, Education Department Trump, Department of Education, of Education, Civil Locations: Ukraine, Russia, East, Israel, Washington

☆ How this 37-year-old grew her side hustle into a business bringing in over $200,000 a year—without a college degree
▼ + stars: | 2024-12-12 | by ( Morgan Smith | ) www.cnbc.com time to read: +6 min

The 37-year-old owns Kroopin's Poopin Scoopin, a dog waste removal business in Northville, Michigan. Krupin started scooping poop as a side hustle six years ago. Kroopin's Poopin Scoopin is on track to hit $250,000 in revenue for 2024, according to financial documents reviewed by CNBC Make It. Ahead of her seventh year in business, Krupin says she hopes to hire additional staff and service more cities in Michigan. The Kroopin's Poopin Scoopin business model is based on frequency, with weekly being the common level of service.

Persons: Erica Krupin, Krupin, Scoopin, didn't, Little, hasn't, Joshua, Kroopin's Poopin Scoopin Organizations: CNBC, pitbull, Schoolcraft College, University of, cleanings, Brown Locations: bartending, Northville , Michigan, United States, Michigan, Livonia , Michigan, Ann Arbor

☆ Bill Belichick, who led Patriots to six Super Bowl wins, set to be head coach for UNC
▼ + stars: | 2024-12-11 | by ( Rohan Nadkarni | Rohan Nadkarni Is A Sports Reporter For Nbc News. | ) www.nbcnews.com time to read: +3 min

The North Carolina Tar Heels are expected to hire former New England Patriots head coach Bill Belichick, a six-time Super Bowl winner, as their head coach, according to multiple reports. He won two championships under head coach Bill Parcells before he accepted the head coaching position with the Cleveland Browns in 1991. New England Patriots head coach Bill Belichick during the game against the Dallas Cowboys, in Arlington, Texas, on oct. 1, 2023. Though he oversaw six Super Bowl wins, Belichick’s relationship with Patriots owner Robert Kraft reportedly grew strained in 2020. In his last four years as the Patriots’ head coach, all without Brady, Belichick posted a 29-38 record, making the playoffs only once.

Persons: Bill Belichick, Belichick, Mack Brown, Brown, Bill Parcells, Parcells, Matthew J, Lee, Robert Kraft, Tom Brady, Brady, Raheem Morris Organizations: Carolina, New England Patriots, ESPN, NFL Network, Patriots, Bowls, New, New York Giants, Heels, North, ACC, Baltimore Colts, Detroit Lions, Denver Broncos, The Giants, Cleveland Browns, Browns, New York Jets, Dallas Cowboys, Boston Globe, Getty, Jets, Super Bowl, Hall of Fame, Atlanta Falcons Locations: New England, North Carolina, Arlington , Texas

When Syria’s new interim prime minister, Mohammad al-Bashir, chaired a Cabinet meeting in Damascus on Tuesday, hanging behind him was the flag of the country’s suddenly victorious opposition. That path will largely depend on Hayat Tahrir al-Sham, the rebel organization that led the charge into Damascus and is now stewarding Syria’s political overhaul. Its leader, Abu Mohammad al-Jolani, said a decade ago that there would be no room for religious minorities in the Islamist Syria of which he dreamed about. The leader of Syria's Islamist HTS group, Abu Mohammad al-Jolani, at the Umayyad Mosque in Damascus on Sunday. Aref Tammawi / AFP - Getty ImagesSome observers, such as Gerges, see the interim prime minister as little more than an Jolani figurehead.

Persons: Syria’s, Mohammad al, Bashir, Assad, Muhammad Haj Kadour, Abu Mohammad al, Jolani, Ahmad al, ”, Bilal Sukkar, trepidation, Nael, ” Sukkar, Fawaz, Gerges, “, ” al, Della Sera, “ God, Aref Tammawi Organizations: Getty, Harvard Divinity School, London School of Economics, Islamic State, U.S, NBC News Locations: Damascus, Syria, Hayat Tahrir, Homs, Sunday, AFP, United States, Al Qaeda, Syrian, London, Idlib, Italian, Washington, Umayyad, Idlib province

On Monday, Col. Kim Hyun-tae, who led special forces at the National Assembly, said he took full responsibility for ordering their deployment. South Korean lawmakers debating a motion to impeach President Yoon Suk Yeol at the National Assembly in Seoul on Saturday. Security had been tightened at the National Assembly, where there was still evidence of the troop deployment days earlier. After that vote, the few members of Yoon’s party who had shown up walked out of the chamber. All but three members of Yoon’s party boycotted the vote, causing the motion to fail due to lack of quorum.

Persons: ” Rob York, Yoon, ” York, Kwak Jong, Kwak, “, ”, Kim Hyun, Kim, ” Kim, Matthew Miller, Yoon Suk, Yoon’s, Kim Keon, Min Jo, Janis Mackey Frayer, Stella Kim, Jennifer Jett Organizations: Pacific Forum, People Power Party, Democratic Party, National Assembly, ” Lawmakers, State Department, South Korean Ministry of National Defense, South, Saturday, Getty, Lawmakers, NBC, Prevention Locations: Honolulu, Seoul, Korea, “, United States, South Korea, U.S, Hong Kong

He and his brother-in-law filed paperwork to start Med Ed Labs, registering it as a nonprofit corporation. For example, the IRS revoked Med Ed Labs’ nonprofit status after it failed to file financial disclosures for three years. Some of the federal contracts were later terminated, including at least one that was canceled after Med Ed Labs failed to deliver. The State Anatomical Board, which had little power to regulate private companies, took no formal action against Med Ed Labs. North, the Health Science Center spokesperson, didn’t answer detailed questions about the center’s relationship with Med Ed Labs.

Persons: Andy North, Nassiri, —, who’d, I’ve, It’s, ” Nassiri, “ It’s, it’s, ”, King of Prussia, Claudia Yellott, ” Yellott, Yellott, UTHealth Houston, Kurt Clark, “, UTHealth, John Hubbard, Hubbard didn’t, ’, Sammy Rodriguez, Lynn, Rodriguez, David Saunders, ” Saunders ’, Elsie Saunders, I’m, Saunders Organizations: Health Science Center, NBC, Med Ed Labs, Allstate Insurance Co, Allstate, State Board of Health, NBC News, IRS, Ed Labs, Labs, Nordstrom, U.S . Army, Defense Health Agency, Army, Nassiri, University of North Texas Health, Science, FedEx, U.S . Postal Service, Texas —, Anatomical Board, Texas, Service, Health Science Locations: Iran, Las Vegas, Nevada, PetSmart, Sephora, Malden , Massachusetts, King, King of Prussia , Pennsylvania, Chicago, Bethesda , Maryland, Honolulu, San Antonio, Texas, Houston, Fort Worth, Portland , Oregon

The water security of the millions of people who live in the foothills of the Andes is also at risk. To date, Aucca Chutas says the initiative has planted more than 10 million trees across the region, with the help of thousands of indigenous families. Constantino Aucca Chutas walks up a mountain with members of the local community to plant trees. In previous years, the community has planted as many as 100,000 trees in a single day, using a process of propagation, where root cuttings are planted. Aucca Chutas says that it is important to only plant local species as they have found that polylepis trees vary between regions and altitudes.

Persons: Constantino Aucca Chutas, They’re, “ I’m, ”, ” Constantino Aucca Chutas, Acción Andina, Aucca Chutas, “, Queuña, Pachamama, Aucca, Acción, Prince William’s Earthshot, Queuña Raymi, Elizabeth Mrema Organizations: CNN, Initiative, Rolex, pumas, Global, Generation, condor, puma, UN, Programme Locations: Peruvian, Peru, Ecuador, Argentina, Bolivia, Chile, Colombia, Cusco

☆ Chili’s and Applebee’s are fighting about their value meals
▼ + stars: | 2024-12-11 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

In one corner is Applebee’s, which recently launched a $9.99 “Really Big Meal Deal,” and on the other side is Chili’s, home of the $10.99 promotion that has proven to be a big hit. Both chains have added more value offerings to menus in recent months as consumers cut back on dining out amid inflationary pressure on their wallets. The fight between the two is garnering attention on X, where Applebee’s implied that its deal is better than Chili’s offering because it’s $1 cheaper. Applebee’s deal also includes either a fried chicken sandwich or bacon cheeseburger, fries and a soda. Applebee’s same-store sales slumped about 6% in its most recent quarter, marking the sixth straight quarter of decline.

Persons: “, Chili’s, ”, hasn’t, George Felix, it’s, Applebee’s, Brinker, It’s, ” John Peyton Organizations: New, New York CNN, CNN, Chili’s, Triple, Dine Brands, Brands, Applebee’s Locations: New York

☆ Here’s why it’s OK to say ‘no’ to gift giving this holiday season, according to experts
▼ + stars: | 2024-12-11 | by ( Julianna Bragg | ) edition.cnn.com time to read: +7 min

If you’re feeling overwhelmed by gift giving this holiday season, adopting Blumenthaler’s approach of eliminating or even limiting gift exchanges in favor of shared experiences might help create new holiday traditions. But gift giving doesn’t always create the desired outcome for the giver and recipient. Some people have eliminated gift giving entirely, shifting their focus to shared experiences such as traveling, donating to charitable organizations or both. “There are reasons that people could say no to gift giving that help us refocus on the relationships,” Ward said. “Research says accompanying a holiday gift with a letter that talks about the relationship can be equally or more rewarding than just giving a gift,” Ward said.

Persons: Alex Blumenthaler, ” Blumenthaler, ”, Morgan Ward, doesn’t, —, Diane Gottsman, ” Ward, ” Gottsman, Gottsman, Ward Organizations: CNN, Emory, Goizueta Business School, Protocol, of Texas Locations: Atlanta

☆ Oil prices edge up on demand hopes from China's 'looser' monetary policy
▼ + stars: | 2024-12-11 | by ( ) www.cnbc.com time to read: +1 min

Oil prices rose slightly early on Wednesday, with market participants expecting to see demand rising in China next year after Beijing announced a looser monetary policy to stimulate economic growth. China said on Monday it would adopt "appropriately loose" monetary policy in 2025 as Beijing tries to spur its economy with the first easing of its stance in 14 years. In the U.S., crude oil and fuel stocks rose last week, market sources said on Tuesday, citing American Petroleum Institute figures on Tuesday. Gasoline inventories rose by 2.85 million barrels, and distillate stocks rose by 2.45 million barrels, they said. Official data on oil stocks from the U.S. Energy Information Administration is due on Wednesday at 10:30 a.m.

Persons: Mukesh Sahdev Organizations: Beijing, Brent, U.S, West Texas, Trump, Rystad Energy, American Petroleum Institute, U.S . Energy, Administration, Reuters Locations: Seminole , TX, U.S, China, Beijing

☆ Two prominent real estate brokers and their brother charged in sex trafficking case
▼ + stars: | 2024-12-11 | by ( Kara Scannell | Lauren Del Valle | ) edition.cnn.com time to read: +4 min

CNN —Federal prosecutors charged two prominent real estate brokers and their brother in a sex trafficking scheme, alleging they baited, drugged and sexually assaulted multiple women since 2010. During those trips and events, they allege, the men “frequently raped and sexually assaulted the women” sometimes within hours of meeting them. Isabelle Kirschner, an attorney who has represented Alon and Oren Alexander, who are twins, in civil sex trafficking lawsuits, confirmed their arrest and declined further comment. All three brothers have been charged with conspiracy to commit sex trafficking and sex trafficking of one victim in 2016. Tal Alexander is separately charged with sex trafficking of a second victim in July 2011.

Persons: Tal, Oren Alexander, Douglas Elliman, Alon, Alexander, “, women’s, Isabelle Kirschner, Deanna Paul, Tal Alexander, Douglas, Howard Lorber Organizations: CNN, FBI’s, Prosecutors, Authorities, US, Southern, of, ” Locations: York, Miami, New York, of New York

☆ Shares in fashion giant behind Zara and Massimo Dutti plunge as it reports disappointing sales growth
▼ + stars: | 2024-12-11 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

Inditex sales grew 9% in five weeks to December 9, the start of the traditional holiday shopping period. Shares fell over 7% on Wednesday off the back of the results, which missed analyst expectations. Analysts at Deutsche Bank called the results "disappointing" in a note to clients. AdvertisementShares in the Madrid-listed fashion giant — which also owns Bershka and Massimo Dutti — dropped as much as 7% on Wednesday after it missed analyst estimates. Net income rose 8.5% to €4.4 billion ($4.62 billion) in the nine-month period, falling below the €4.52 billion ($4.74 billion) forecast by analysts.

Persons: Massimo Dutti —, James Grzinic, Zara, Louis Vuitton, Christian Dior —, Kering, Saint Laurent — Organizations: Deutsche Bank, Jefferies, Louis, Gucci Locations: Madrid, Zara

☆ Luggage chaos at Europe's busiest airport grew so bad that some airline crews were reportedly told not to check bags
▼ + stars: | 2024-12-11 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

British Airways told customers on X it faced "baggage disruption" due to a fault at London Heathrow. An aviation news site reported BA warned crews against checking bags due to the baggage system fault. Some flight crews have been advised not to check bags amid a system fault at Europe's busiest airport, aviation news site Paddle Your Own Kanoo reported. Demi — British Airways (@British_Airways) December 10, 2024PYOK reported that British Airways also told pilots and cabin crew not to check luggage due to the fault at Terminal 5. London Heathrow Airport did not immediately respond to a request for comment.

Persons: it's, Demi —, PYOK Organizations: British Airways, Heathrow, London, Demi — British Airways, Heathrow Airport, Business Locations: London, Heathrow, Dubai

☆ China's exports saved its economy this year, but the growth spurt is already slowing before Trump takes office
▼ + stars: | 2024-12-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China's exports grew 6.7% in November, hitting $312 billion, despite economic challenges. The growth reverses last year's decline, driven by strong global demand and frontloaded orders. It's been a difficult year for China's economy, but the country is still expected to hit its GDP growth target, thanks to strong global demand for its exports. AdvertisementIn November, China's exports grew 6.7% from a year ago to $312 billion — the highest level since September 2022, per official data released on Tuesday. However, given that China's exports in November were strong due to stockpiling, its upside could be short-lived — especially as global demand slows.

Persons: It's, Donald Trump's, Lynn Song, Trump, Trump's, Ting Lu, Lu Organizations: Trump, BofA Securities, ING, Beijing, —, Economic Work, Xinhua, Markets Locations: Beijing, China, Xinhua

☆ Macy's ends delivery expense investigation, saying employee hid $151 million
▼ + stars: | 2024-12-11 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

On Wednesday, Macy's also slightly raised its full-year forecast, while still projecting a sales decline. That metric includes merchandise that Macy's owns, items from brands that pay for space within its stores and Macy's third-party online marketplace. It also reported a comparable sales decline of 1.3% across its owned and licensed businesses, plus its online marketplace. In the most recent quarter, comparable sales for the segment fell 2.2% on an owned and licensed basis and including its third-party marketplace. And Bluemercury comparable sales increased 3.3%, marking the 15th consecutive quarter of comparable sales growth for the beauty brand.

Persons: Macy's, Tony Spring, it's, Barington Organizations: LSEG, Revenue

In handwritten notes from 2019 reviewed by Business Insider, Mangione wrote that he had spondylolisthesis — severe slippage of parts of the spine due to joint deterioration. The scion of a prominent Baltimore family, Mangione was educated at elite schools. "When you think of the Mangione family, you think of an esteemed family that has done a lot for the community," Maronick said on a phone call. Related storiesMangione was "very into sports" and "very social," a high-school classmate told BI. In recent months, one of Mangione's cousins began reaching out to Mangione's friends to ask whether anyone had heard from him, his high-school classmate told BI.

Persons: Luigi Mangione, didn't, Brian Thompson, he's, UnitedHealthcare —, Thompson —, Mangione, he'd, Thompson, Nick Mangione, Thomas J, Maronick Jr, Maronick, Luigi Mangione's, Lyme, R.J, Martin, Surfbreak, Ted Kaczynski's, Kaczynski, He'd, I've, Robert F, Kennedy Jr, hadn't, Mangione hadn't, texted Mangione, Mangione's, Thomas Dickey, Dickey, Ana Altchek, Laura Italiano, Natalie Musumeci Organizations: Affordable, Business, University of Pennsylvania, Mangione, BI, Baltimore Banner, Gilman, AppRoar Studios, Eta Kappa Nu, Stanford, Honolulu Civil, Harvard, Civil, The New York Times, Democratic, Republican, San Francisco, UnitedHealth Group, Police, Pennsylvania Locations: American, Manhattan, Baltimore, Towson , Maryland, Maryland, Instagram, Hawaii, Surfbreak, TrueCar, Asia, Japan, San Francisco, Altoona, America, New York, Mangione

☆ OpenAI's CFO says it trusts Elon Musk to 'compete appropriately' after his ally David Sacks was appointed AI czar
▼ + stars: | 2024-12-11 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

OpenAI's CFO trusts Elon Musk to prioritize the national interest despite owning a rival company. Musk, a Trump advisor with ties to AI czar David Sacks, has a feud with OpenAI's Sam Altman. Altman said last week he does not think Musk will use his political power to hurt competitors. OpenAI trusts Elon Musk to act in good faith as the owner of a rival AI company with the ear of President-elect Donald Trump, its CFO said. AdvertisementOpenAI and Elon Musk didn't immediately respond to requests for comment from Business Insider, made outside normal working hours.

Persons: Elon Musk, David Sacks, OpenAI's Sam Altman, Altman, Donald Trump, Sarah Friar, Vivek Ramaswamy, Musk's, Sacks, Sam Altman —, Musk, —, Elon, xAI, Elon Musk didn't Organizations: Trump, OpenAI, Reuters, PayPal, The New York Times, ChatGPT, Elon, Business Locations: OpenAI, Memphis

☆ Stock futures are flat after Nasdaq notches record close above 20,000: Live updates
▼ + stars: | 2024-12-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell on November 26, 2024, in New York City. U.S. stock futures were little changed Wednesday night after the tech-heavy Nasdaq Composite finished above the 20,000 level for the first time. Futures tied to the Nasdaq 100 slipped around 0.2%. During Wednesday's regular trading session, the Nasdaq gained around 1.8%, topping the 20,000 threshold and posting an all-time high and a closing record. Fed funds futures trading data reflects a nearly 99% likelihood that central bank policymakers will lower rates next week, according to the CME FedWatch tool.

Persons: Mark Hackett, Hackett, Dow Jones Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Adobe, Dow, Nationwide, Federal Reserve, Broadcom, Costco Locations: New York City . U.S

☆ My twins were never close growing up. That changed when they both enrolled at the same college.
▼ + stars: | 2024-12-11 | by ( Cheryl Maguire | ) www.businessinsider.com time to read: +5 min

Everyone thought my twins would be close, but growing up, they ran in different circles. My twins didn't plan to go to college togetherThe latest presumption about them is that they planned to go to the same college. Their decision to attend the same school wasn't intentional; it just worked out that way. They chose different college dorms, different majors, and different friends. Advertisement"For our birthday," my daughter told me, "I booked a reservation at an Asian restaurant for us and some of our friends."

Persons: I've, That's, —, They'll, You've, They've, it's, I'm Locations: New York City

☆ European Central Bank heads for last rate cut of year — but jumbo move seems off the table
▼ + stars: | 2024-12-11 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The European Central Bank is heading for its final interest rate cut of the year on Thursday — and while the institution is expected to stick to a quarter rather than half-percentage-point trim, economists forecast that a faster pace of monetary loosening lies ahead. It will still be a crucial meeting to set guidance for the year ahead, not least because ECB staff will release their quarterly macroeconomic projections on growth and inflation. The bloc's central bank has so far lowered its key rate from 4% to 3.25% this year across three 25-basis-point increments between June and October. Money market pricing now suggests little chance of a jumbo trim. The euro zone economy meanwhile grew at its fastest pace in two years in the third quarter, albeit only at a rate of 0.4%.

Persons: Donald Trump's Organizations: European Central Bank, ECB, White, CNBC

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