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☆ OpenAI's latest funding round could be a bargain or a bust for investors
▼ + stars: | 2024-10-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The high-profile startup announced the closing of a $6.6 billion funding round that valued it at $157 billion. And more exits could be coming since OpenAI is reportedly working on allowing its employees to sell their shares in the company . Win McNamee and Didem Mente/Anadolu Agency via Getty Images; Jenny Chang-Rodriguez/InsiderIt's important to remember OpenAI's eye-popping valuation is just that … a valuation. Which gets us back to $157 billion OpenAI.

Persons: —, Elon Musk's, Josh Kushner's, Cathy Wood's, Chase, Here's, Mira Murati, Kevin Weil, Rob Price, OpenAI, Sam Altman, Win McNamee, Didem, Jenny Chang, Rodriguez, Brad Gerstner, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Elon, Elon Musk's SpaceX, Venture, Microsoft, Nvidia, Anadolu Agency, Getty, Big Tech Locations: Silicon Valley, New York, London

☆ Wizz says passengers will 'suffer' through 7-hour flights on its new Airbus A321XLR for cheap tickets. See the no-frills cabin.
▼ + stars: | 2024-10-02 | by ( Taylor Rains | ) www.businessinsider.com time to read: +2 min

Wizz Air is set to launch new long-haul routes using its upcoming Airbus A321XLR. The first flights, a seven-hour trek, will start in March between London and Jeddah, Saudi Arabia. Wizz Air will offer significantly cheaper fares compared to competitors like British Airways. AdvertisementLow-cost carrier Wizz Air is banking that price-sensitive customers will book its new no-frills narrowbody planes to save money on long-haul flights — and it's not being shy about the cabin. Wizz's new long-haul flights on the A321XLR won't even come with free water.

Persons: —, Wizz, József Váradi, Abu Dhabi Organizations: Airbus A321XLR, British Airways, Service, Wizz, Airbus, London, Etihad Airways Locations: London, Jeddah, Saudi Arabia, Hungarian, London Gatwick, Milan, Abu Dhabi, Abu, UAE

☆ Manchester City equals ‘unbeaten’ record, Borussia Dortmund nets five first-half goals in high-scoring Champions League night
▼ + stars: | 2024-10-02 | by ( Ben Church | ) edition.cnn.com time to read: +5 min

CNN —High-scoring matches, unwanted records and an unlikely winning run – Tuesday’s UEFA Champions League round seemed to have it all. Manchester City equals ‘unbeaten’ recordManchester City has set a number of records while commanding the English Premier League in recent seasons, but it appears its dominance also stretches to the Champions League. The Scottish side was unbeaten this season heading into the game, having also won its first Champions League match 5-1 last month. While City and Dortmund won easily on Tuesday, Barcelona also thrashed Young Boys 5-0 and Internazionale beat Red Star Belgrade 4-0. The French side continued its perfect start to the new Champions League season with a 4-0 win against Red Bull Salzburg on Tuesday.

Persons: CNN —, –, Pep, “, ” Guardiola, Opta, Karim Adeyemi, Ina Fassbender, Emre, Daizen Maeda, Karim Adeyemi’s, Serhou, Guirassy, Felix Nmecha, Brendan Rodgers, it’s, Kerstin Joensson, Abdallah Sima, Mahdi Camara, Mathias Pereira Lage, Bayer Organizations: CNN, UEFA, League, CNN Sport, Manchester City, English Premier League, Champions League, Slovan Bratislava, Opta, Manchester United, City, Sparta Prague, Real Madrid, Borussia Dortmund, Celtic, Scottish, Getty, Dortmund, ”, Young Boys, Internazionale, Red Star Belgrade, Red Bull Salzburg, Brest, Ligue, Austrian, Sturm Graz, Salzburg, UCL, Bayer Leverkusen –, AC Milan Locations: Europe, City, Dortmund, AFP, Barcelona, Brest

☆ A junk dealer found a painting in a basement. Experts say it’s an original Picasso
▼ + stars: | 2024-10-02 | by ( Barbie Latza Nadeau | ) edition.cnn.com time to read: +4 min

CNN —A painting discovered by a junk dealer in the basement of an Italian villa six decades ago is actually the work of Pablo Picasso and could sell for millions, according to experts. At just 24, Lo Rosso didn’t appreciate that the signature in the upper left corner of the artwork that read simply “Picasso” meant anything, his son Andrea Lo Rosso told CNN on Tuesday. The older Lo Rosso, who died in 2021, stuck it in a cheap frame and gave it to his wife — much to her chagrin, his son said. Finally, last month Cinzia Altieri, a graphologist for a patrimony court in Milan, was able to certify the Picasso signature as authentic. “I’m happy but let’s wait to toast, there is still one step to take before we consider this incredible story over,” Andrea Lo Rosso said.

Persons: Pablo Picasso, Luigi Lo Rosso, Lo Russo, Andrea LoRosso, Dora Maar, Luca Gentile, Lo Rosso, Andrea Lo Rosso, —, wasn’t, ” Andrea Lo Rosso, Picasso, Picasso’s, Maar ”, Altieri, ”, Marcante, CNN he’s, “, ” CNN’s Organizations: CNN, Arcadia Foundation, Picasso Foundation Locations: Pompeii, Italy, Capri, Swiss, Golfe, Juan, France, Spanish, Milan, Paris

☆ The US economy teeters after it's hit by a triple threat: Middle East escalation, port closures, and Hurricane Helene
▼ + stars: | 2024-10-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

A dockworkers strike begins. Back in the States, a dockworkers strike could upend an economy finally on the mend. Tuesday morning marked the start of a dockworkers strike that will shutter dozens of US ports that handle about half of all US ocean imports. The Iranian attack was largely thwarted, and the dockworkers strike could be short-lived. That's thanks in part to strong demand in China.

Persons: —, JD Vance, Tim Walz, BI's Brent D, Griffiths, Amir Cohen, Hurricane Helene, it's, Tyler, Paul Podolsky, Kate Capital, Samantha Lee Musk, Jenny Chang, Rodriguez Hey Airbnb, Gen Z, somethings, Critics —, Amazon's, Nicholas Bloom, Eric Adams, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Midwest Nice, REUTERS, US Navy, Bank of America, Northwestern Energy, Bridgewater Associates, Samantha Lee Musk &, mojo, DOJ, Google, BI, Amazon, Stanford, New York City Locations: Israel, Iran, Saudi Arabia, States, Bridgewater, China, Yale, New York, London

☆ CNBC Daily Open: Markets just had an expectations-defying month
▼ + stars: | 2024-10-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Winning month and quarterU.S. markets rose on Monday to finish a winning month and quarter. In a filing, Cerebras reported a net loss of $127.2 million on revenue of $78.7 million for 2023. Markets predict measured response from IranIsrael has escalated fighting with Lebanese militia group Hezbollah, hitting Iran's proxy network across the Middle East.

Persons: Tesla, Jerome Powell, Powell, Cerebras, Michael Santoli Organizations: CNBC, . Federal, National Association for Business Economics, Nvidia, Systems, Nasdaq, Lebanese, Hezbollah Locations: Milan, Stellantis, Iran Israel, Iran, U.S, Beijing

☆ Tonight's vice presidential debate matters a lot more this time around
▼ + stars: | 2024-10-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, what you need to know about tonight's vice presidential debate , and why it's worth paying attention to. The big storyUp for debateDrew Hallowell/Getty Images; Andrew Harnik/Getty Images; Brandon Bell/Getty Images; Rebecca Zisser/BIOhio Sen. JD Vance and Minnesota Gov. ET for an uncharacteristically important vice presidential debate , write Business Insider's Brent D. Griffiths and John L. Dorman. Thanks to a hot streak at Miu Miu, Prada has done what few luxury retailers have been able to do this year: grow. In short, it doesn't get trendier than Miu Miu — and trendy is good for business.

Persons: —, Drew Hallowell, Andrew Harnik, Brandon Bell, Rebecca Zisser, JD Vance, Tim Walz, Insider's Brent D, Griffiths, John L, Dorman, Donald Trump, Kamala Harris aren't, Vance, Walz, hasn't, Brent, Trump's, There's, Harris, Joe Biden's, Matt Stroshane, Tyler Le, Blackstone, Getty, Justin Sullivan, Nvidia's, Jensen, Mira Murati, Natalie Ammari, That's, Miu Miu, Prada, Jimmy Carter, Mark Rutte, Jens Stoltenberg, Claudia Sheinbaum, Elliott Hill, Mike Johnson, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Microsoft, Getty, Ohio Sen, Minnesota Gov, CBS, Netflix, Republican, UBS, Venture, Murati, Consulting, Nike, NYSE Locations: Minnesota, Silicon, New York, London

☆ Champions League Briefing: Arsenal’s statement win – and why so many thrashings?
▼ + stars: | 2024-10-01 | by ( Tim Spiers | ) www.nytimes.com time to read: +12 min

If you like your European midweek football this is the week for you, with 54 Champions League, Europa League and Conference League matches being crammed into three nights. The Champions League kicked things off with some of the competition’s favourites beginning to bare their teeth. It was also, incredibly, their 31st defeat from 37 Champions League group stage away games. Ilkay Gundogan, Phil Foden, Erling Haaland and a first Champions League goal for James McAtee saw City get their first win of this year’s competition. They lost a number of key players in the summer and can’t even play Champions League games at their own home, with the 15,000 capacity Stade Francis-Le Ble not up to Champions League standards (they’re hosting matches at Guingamp’s Stade du Roudourou instead).

Persons: Olivier Giroud, Germain, Luis Enrique, Mikel Arteta’s, Nuno Mendes, Joao Neves, Kai Havertz, Gianluigi Donnarumma, Leandro Trossard’s, l, e, sid e, Rob e, Lew, Rea, ’, Camara, enki, – they, night., ashe, hal f, alf of a, Brendan R, c Roy, are, tim e, eason, Francis, Le Bl, ning, Bayer, ade 0 P, 45pm E, ina Organizations: Champions League, Europa League, Conference League, League, Arsenal, Manchester City, Borussia Dortmund, Brest, Bayern Munich, Paris Saint, Emirates, sco, RIM, rit, UE, eni, Graz, Salzburg …, pla Locations: Barcelona, Emirates, Nis, goa, Zagreb, Ata, Brest, Austria, Red Bul, arta

☆ Champions League preview: What to look out for on Matchday 2 and how to watch
▼ + stars: | 2024-10-01 | by ( Eduardo Tansley | ) www.nytimes.com time to read: +9 min

Harry Kane has never won the Champions League but if Matchday 1 was anything to go by, the England captain is desperate to do so. Follow the Champions League on The AthleticFirst, what happened on Matchday 1? Ligue 1 side Brest took no time to acquaint themselves with the Champions League, beating Austrian champions Sturm Graz 2-1 on their debut in the competition. The 26-year-old USMNT winger has scored in his last two Champions League games and could become the first American to score in three consecutive appearances. It was the first time in the Champions League that three substitutes had all directly contributed to a goal.

Persons: Harry Kane, Kane, Lamine Yamal, Michael Olise, Kylian, Ethan, Yamal, Ansu Fati, Eric Garcia, Villa, Germain, Martin Odegaard, Mikel Arteta’s, David Raya, Mateo Retegui, Raya, Timothy Rogers, Paulo Gazzaniga’s calamitous, Ousmane Dembele, Luis Enrique, Florian Wirtz, Wirtz, Dean Mouhtaropoulos, Brendan Rodgers ’ Celtic, Daizen Maeda, England’s Jamie Gittens, Serhou, Felix Nmecha, KURT DESPLENTER, Aston, Unai Emery, Villarreal, Jose Mourinho, Neville Williams, Vincent Kompany, Benjamin Sesko, Jose Maria Gimenez’s, Sesko, Bayer, Maja Hitij, Kenan Yildiz, Pietro Fanna, Thiago Motta’s, Dusan Vlahovic Organizations: Champions League, Bayern Munich, Dinamo Zagreb, Aston Villa, Bayer Leverkusen, Real, League, The, Bayern, Stuttgart, Lille, Monaco, Young Boys, Liverpool, AC Milan, Scottish, Celtic, Slovan Bratislava, Manchester City, Arsenal, — Inter Milan, Atalanta, Ligue, Brest, Austrian, Sturm Graz, Red Bull Salzburg, Paris Saint, Leicester City, Premier League, Getty, PSG, Newcastle United, Bayer, Bayer Leverkusen’s, Feyenoord, Leverkusen, Milan, Inter Milan, Borussia Dortmund, Dortmund, Club Bruges, MAG, Villa, Europa League, Aston Villa FC, Bundesliga, Zagreb, Tottenham Hotspur, Leipzig, Juventus, Wednesday, Atletico, Augsburg, PSV Eindhoven, Serie A, Genoa, TNT Sports, Paramount, Salzburg, Sparta Prague, Amazon, Sporting Lisbon, Barcelona, Red Star Belgrade, Shakhtar Donetsk, Girona, Benfica, Atletico Madrid, Bologna, Real Madrid Locations: England, Saturday’s, U.S, Crystal Palace, Endrick, Lille, Barcelona, Bern, Girona, Europe, Christian Pulisic, American, Milan, Celtic, Stuttgart, dinked, Slovenia, Madrid, Leipzig, Germany, Brest

☆ China's $114 billion stimulus package immediately boosted its stock market. But can it last?
▼ + stars: | 2024-09-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

AdvertisementUS financial firms' interest in China was on its last legs, but a new stimulus package has some investors excited again. The immediate impact of China's $114 billion package, which includes cutting interest rates and reducing the amount of money banks need to keep in reserve, has been big. Traders, investors, and speculators have sent China's stock market to its best month in nearly a decade , signaling that the market players think that Beijing's moves are a "bazooka." Our annual list of Wall Street rising stars is here. According to a new report from The Wall Street Journal, executives attempted to woo the AI researcher back before rescinding the offer.

Persons: —, Andres Martinez Casares, Alyssa Powell, Linette Lopez isn't, Linette, Jon Hicks, that's, David Tepper, He's, Tepper, Pan Gongsheng, BI's Filip De Mott, Wall, Natalie Ammari, Crypto, Donald Trump, Kamala Harris, Marc Piasecki, Tyler Le, who's, OpenAI execs, Ilya Sutskever, it's, Tara Anand, aren't, Jerome Powell, Ryan Routh, El Chapo, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Traders, Bank of China, bros, Trump, Getty, Houston Chronicle, Hearst Newspapers, Elon, Wall Street Journal, Netflix, Longshoremen's Association, National Association for Business Locations: China, New York, London, Chicago

☆ Stellantis shares plunge as carmaker follows Volkswagen in profit warning
▼ + stars: | 2024-09-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

Stellantis said it would reduce inventory levels in the United States and ship 200,000 fewer vehicles to North American dealers in the second half of 2024 than in the same period last year. Volkswagen said earlier this month that around 2 million fewer cars are being sold in Europe per year compared with pre-pandemic levels. Volkswagen itself is selling 500,000 fewer cars annually in the region, the equivalent of around two car plants. “To remain competitively viable, we have to comprehensively restructure Volkswagen… because the situation is serious,” the company said last week. “Volkswagen has to increase efficiency and reduce costs.”For Stellantis, Monday’s profit warning is the latest piece of bad news.

Persons: American carmaker, Ram Trucks, Stellantis, Volkswagen’s, Aston Martin Lagonda Organizations: London CNN —, Chrysler, Milan, Citroen, Peugeot, North, Volkswagen, Aston, IG Metall, United Auto Workers Locations: American, North America, United States, North American, China, London, Europe, Detroit

☆ The Briefing: Manchester United’s latest crisis is on INEOS – and has Palmer outgrown Chelsea?
▼ + stars: | 2024-09-30 | by ( Nick Miller | ) www.nytimes.com time to read: +10 min

They didn’t take it, and now they’re left with another season of mopping up and making do. Extraordinarily, saying that Palmer ‘scored four goals before half-time’ (which nobody has ever done before in the Premier League) undersells what he did against Brighton & Hove Albion on Saturday. GO DEEPER Is 'amazing' Palmer the best attacking player in the Premier League? Over the years, some brilliant Italian players have appeared in the Premier League. Tottenham are off to Budapest to play Ferencvaros, while the travelling Manchester United circus rolls into Porto.

Persons: Riccardo Calafiori, League’s, Cole Palmer, “ I’ve, Erik ten, Brennan Johnson, Dominic Solanke, Timo Werner, Bruno Fernandes “, Sir Dave Brailsford, Omar Berrada, Michael Regan, Getty, Sir Jim Ratcliffe, — Mauricio Pochettino, Roberto De Zerbi, Antonio Conte, Thiago Motta —, They’ve, United, Palmer, Morgan Rogers, Liam Delap, Jadon Sancho, sparky, there’s Cole Palmer, Palmer ‘, Nicolas Jackson —, you’re, Cole Palmer’s, Mike Hewitt, he’s, Chelsea, they’re, Chelsea don’t, Cole, Calafiori, Gianfranco Zola, Paolo Di Canio, Gianluca Vialli, Jorginho, Roberto Di Matteo, Mario Balotelli, Carlo Cudicini, Guglielmo Vicario, Gianluca Festa, Alessandro Pistone, Marco Materazzi, Angelo Ogbonna, Destiny Udogie, Facundo Buonanotte, Adrian Dennis, Gabriel Martinelli, Martinelli, Germain Organizations: weekend’s Premier League football, Newcastle United, Manchester City, Liverpool, Wolverhampton Wanderers, Arsenal, Leicester City, Everton, Manchester United, Chelsea, Tottenham Hotspur didn’t, United, Sky Sports, FA, Fulham, Southampton, Ten, Tottenham, Spurs, Aston Villa, Ipswich Town, Premier League, Brighton & Hove Albion, Champions League, Getty, Leicester, Bournemouth, League, Paris Saint, Slovan Bratislava, Borussia Dortmund, Celtic, Bayer Leverkusen, Milan, Bayern Munich, Bologna, RB Leipzig, Juventus, Conference League, UEFA, Gent, Fiorentina, Welsh, New Saints, Europa League, Ferencvaros, Newcastle, AFC Wimbledon Locations: Chelsea, Italy, England, AFP, Manchester, Copenhagen, Bialystok, Budapest, Porto, Newcastle

☆ Dodge-maker Stellantis issues profit warning; shares drop 12%
▼ + stars: | 2024-09-30 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

The Stellantis sign is seen outside the FCA Headquarters and Technology Center in Auburn Hills, Michigan, on Jan. 19, 2021. Stellantis on Monday trimmed its 2024 annual guidance on the back of deteriorating "global industry dynamics" and bolstered competition from China, sending Milan-listed shares lower on open. It now pencils in an adjusted operating income (AOI) margin between 5.5% to 7.0% for the full-year 2024 period, down from a "double digit" outlook. The automaker further attributed the revisions to its guidance to "decisions to significantly enlarge remediation actions on North American performance issues," but supplied no additional details. Earlier this year, Stellantis was sued by shareholders in the U.S. who claimed the automaker defrauded them by concealing rising inventories and other items, Reuters reported.

Persons: Stellantis Organizations: FCA Headquarters, Technology Center, Chrysler, Dodge, Maserati, U.S ., Reuters Locations: Auburn Hills , Michigan, China, Milan, U.S

☆ What the Eric Adams indictment means for New York City's leadership and future
▼ + stars: | 2024-09-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, the walls are closing in on New York City Mayor Eric Adams after a federal indictment . New York City Mayor Eric Adams was indicted on five criminal counts in a corruption probe accusing him of bribery and receiving illegal campaign contributions from foreign nationals. In one case, according to the indictment, that meant a Turkish Airlines manager offering to charge Adams $50 for two business-class seats worth $15,000 . AdvertisementMessages obtained by prosecutors also show Adams promising his staffer he "always" deleted texts following a discussion of alleged Turkish bribes.

Persons: —, Eric Adams, Eric Adams Seth Wenig, Alyssa Powell, Adams, Damian Williams, Gary Hershorn, He's, Alex Spiro, Elon Musk's, Kathy Hochul, Jumaane Williams, Ali Jarekji, it's, David Tepper, Sam Altman's, Getty, Olivier Verriest, Andrei Akushevich, Tyler Le, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Nathan Rennolds, Amanda Yen, Milan Sehmbi Organizations: Business, Service, New York City, New, Democrat, Brooklyn Borough, Southern, of, Turkish Airlines, FDNY, Reuters, Financial Times, YouTube, Snapchat, Publishers, York Film Locations: New, States, New York, Manhattan, of New York, Turkish, Ali, Saudi Arabia, China, London

☆ UniCredit's pursuit of Commerzbank reflects a watershed moment for Europe — and its banking union
▼ + stars: | 2024-09-26 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

Kirill Kudryavtsev | Afp | Getty ImagesEuropean banking's latest takeover battle is widely regarded as a potential turning point for the region — particularly the bloc's incomplete banking union. Whatever the outcome of UniCredit's swoop on Commerzbank, Marsh said the episode marks "another huge test" for German Chancellor Olaf Scholz. What is Europe's banking union? OMFIF's Marsh said Germany's opposition to UniCredit's move on Commerzbank means Berlin "now stands accused of favouring European banking integration only on its own terms." The logo of German bank Commerzbank seen on a branch office near The Commerzbank Tower in Frankfurt.

Persons: Kirill Kudryavtsev, Italy's UniCredit, David Marsh, Marsh, Olaf Scholz, Scholz, –, Germany's Scholz, OMFIF's Marsh, UniCredit's, Daniel Roland, Onur Genç, Mario Centeno, CNBC's, —, Centeno Organizations: European Central Bank, Afp, Getty, London, European Union, CNBC, BBVA, Banco Sabadell, Reuters, European Central Bank's Governing, EU Locations: Frankfurt, Germany, Germany's, Milan, Europe, Commerzbank, Italy, Berlin, Spanish, Brussels, Spain

☆ France's biggest lender says there are 'too many' European banks as UniCredit moves on Commerzbank
▼ + stars: | 2024-09-26 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

A sign on the exterior of a BNP Paribas SA bank branch in Paris, France, on Friday, Aug. 2, 2024. France's BNP Paribas on Thursday said there are simply too many European lenders for the region to be able to compete with rivals from the U.S. and Asia, calling for the creation of more homegrown heavyweight banking champions. Milan-based UniCredit has ratcheted up the pressure on Frankfurt-based Commerzbank in recent weeks as it seeks to become the biggest investor in Germany's second-largest lender with a 21% stake. UniCredit, which took a 9% stake in Commerzbank earlier this month, appears to have caught German authorities off guard with the potential multibillion-euro merger. Germany's position on UniCredit's swoop has prompted some to accuse Berlin of favoring European banking integration only on its own terms.

Persons: CNBC's Charlotte Reed, Lars Machenil, Germany's Commerzbank, Machenil, Olaf Scholz, Scholz, Berlin Organizations: BNP, SA, Bank of America Financials, Spain's BBVA, Banco Sabadell Locations: Paris, France, U.S, Asia, Europe, Milan, Frankfurt, Germany's

☆ Bettina Orlopp: The woman tasked with leading Commerzbank amid UniCredit takeover battle
▼ + stars: | 2024-09-25 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Bettina Orlopp, chief financial officer of Commerzbank AG, speaks during a fourth quarter earnings news conference at the bank's headquarters in Frankfurt, Germany, on Thursday, Feb. 13, 2020. Commerzbank announced Tuesday it has picked 10-year veteran, and current Chief Financial Officer Bettina Orlopp to helm the bank as chief executive as it seeks to fend off a potential hostile takeover from Italian bank UniCredit. The bank has been on the defensive as UniCredit looks to become its largest shareholder, signaling the potential for a full takeover. Earlier this month, the Milan-based bank started building its shareholding with a 9% stake in Commerzbank. Senior officials at Commerzbank and the German government, which was the company's largest shareholder until UniCredit stepped in, have both said they oppose a hostile takeover.

Persons: Bettina Orlopp, Commerzbank, UniCredit, Orlopp, Manfred Knof Organizations: Commerzbank AG Locations: Frankfurt, Germany, Milan, Commerzbank

☆ Kendall Jenner makes the case for underwear as outerwear at Paris Fashion Week
▼ + stars: | 2024-09-25 | by ( Leah Dolan | ) edition.cnn.com time to read: +3 min

The Mugler look resembled another fashion history moment from the 1999. Mitchell Gerber/Corbis/VCG/Getty ImagesJenner’s Mugler moment was just the latest example of a resurging tendency for underwear as outerwear. Dolce & Gabbana got the memo, too, showing satin corsets, garter belts and Madonna-esque cone bras at Milan Fashion Week on Saturday. Jenner has already proved herself a leader in the underwear as ready-to-wear space, forgoing trousers in favor of a pair of tights in 2022. CNN Style is one of the official media partners of Paris Fashion Week.

Persons: Kendall Jenner, Pascal Le Segretain, Lil, Mitchell Gerber, Kristen Scott Thomas, Duchess of, Gabbana, Florence Pugh, Sabrina Carpenter, Jojo Siwa, Dojaka, Joe Maher, Andreas Rentz, Marie Antoinette, Anna Sui, Jean, Paul Gautier, Jenner Organizations: CNN, Milan, British Vogue, Dolce, Gabbana, Paris Locations: Paris, London, Duchess of Cambridge, British

☆ Caught cold by UniCredit’s swoop on Commerzbank, Germany will want to avoid a national embarrassment
▼ + stars: | 2024-09-25 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

A protestor holds a placard with a slogan reading "Stop Merger Horror" during a union demonstration outside the Commerzbank AG headquarters in Frankfurt, Germany, on Tuesday, Sept. 24, 2024. It follows UniCredit's move to take a 9% stake in Commerzbank earlier this month. watch nowScholz on Monday criticized UniCredit's decision to up the ante on Commerzbank, describing the move as an "unfriendly" and "hostile" attack, Reuters reported. Commerzbank's Deputy Chair Uwe Tschaege, meanwhile, reportedly voiced opposition to a potential takeover by UniCredit on Tuesday. The Commerzbank AG headquarters, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024.

Persons: it's, UniCredit, Octavio Marenzi, Opimas, CNBC's, Olaf Scholz, He's, Marenzi, Scholz, UniCredit's, Uwe Tschaege, Tschaege, Andrea Orcel, Stefan Wittman, Germany's Scholz, Craig Coben, Coben, Emanuele Cremaschi Organizations: Commerzbank, Bloomberg, Getty, CNBC, Reuters, UniCredit, BBVA, Banco Sabadell, Bank of America, AG Locations: Frankfurt, Germany, Berlin, Milan, Commerzbank, Spanish

☆ Jus sanguinis - or ‘blood right’ - might entitle you to EU citizenship
▼ + stars: | 2024-09-24 | by ( Terry Ward | ) edition.cnn.com time to read: +13 min

Some countries are fairly straightforward about their requirements for citizenship through jus sanguinis. Hungary offers citizenship based on jus sanguinis with some caveats, too. “When both of my parents got their Hungarian citizenship around four years ago, it made it easier for me to get it,” said Koszorus, 41, who received his Hungarian citizenship this summer, less than a year after he started the paperwork and application process. And a private Facebook group called Dual US-Italian Citizenship has more than 70,000 members and is among many other resources available to people who think they might have a blood right path to Italian citizenship. Florida-based travel writer Terry Ward lives in Tampa and has the blood right to Italian citizenship through her paternal great-great-grandfather.

Persons: Lisa Wixon, jus solis, she’d, ”, Wixon, ’ ”, Sophie Jo Wasson, Fragomen, Czechia, Wasson, Frans Sellies, “, ” Wasson, Franco, Ferenc G, Koszorus, Koszorus That’s, Marco Permunian, Vittorio Emanuele II, Marco Bottigelli, Permunian, Janna Graber, ” Graber, Graber, Richard Orbidans, Orbidans, Drew Angerer, won’t, Terry Ward Organizations: CNN, New, European Union, “, Croatian, Getty, Irish, Department of Foreign Affairs, Nazi, First Armored Division, Citizenship Assistance, Vittorio, ICA, Facebook, Go, Latvian, Baltic, Visitors, Ellis, National Museum of Immigration Locations: New York City, United States, Rijeka, Croatia, Europe, Ireland, France, London, Italy, Spain, Austria, Poland, Romania, Hungary, Yugoslavia, Moher, Northern Ireland, Germany, Austrian, Spanish, American, Washington, DC, Hungarian, Nazi, West Germany, Milan, Italian, Baltic, Colorado, Riga, Latvia, Lithuanian, Lithuania, Ellis, European, Florida, Tampa

☆ Milan Fashion Week highlights: A surprise drop-in from Madonna and an ‘anything goes’ attitude
▼ + stars: | 2024-09-24 | by ( Scarlett Conlon | ) edition.cnn.com time to read: +12 min

Vittorio Zunino Celotto/Getty ImagesCreative director Mattieu Blazy said “it’s like that first day at school when (you arrive) looking impeccable and you come back at the end of the day crumpled.” Vittorio Zunino Celotto/Getty ImagesPerfectly imperfectHigh octane glamour was dialled right down, too. Blouses also popped up at Marni, N°21 and Bottega Veneta — ranging from clean cut, office-ready designs to the more flouncy and feminine. Vittorio Zunino Celotto/Getty ImagesPointe shoes were reimagined as thong sandals. Vittorio Zunino Celotto/Getty ImagesElsewhere at Fendi, soft, bathrobe-like gowns — much like the one recently worn by Rihanna — were worn with sheer embroidered socks. Vittorio Zunino Celotto/Getty ImagesMiuccia Prada told the press she was "very very nervous” about presenting this collection.

Persons: Milan, Miuccia Prada, Prada, Max Mara’s, Max Mara, Ian Griffiths, ”, Maximillian Davis, Matthieu Blazy, Vittorio Zunino Celotto, Mattieu Blazy, “, Kim Jones, chunky, Kate Moss, Kate, Gucci’s Sabato de Sarno, Normcore, she’s, Peter Pan, Jil Sander, Lucie, Luke Meier, chinoiserie, you’ll, Francesco Risso’s, Alessandro Dell’Acqua, ord, Versace, Donatella, Madonna, philes, Jean, Paul Gaultier, Gaultier, Rachpoot, Bauer, Griffin, Domenico Dolce, Stefano Gabbana, Julianne Moore, Jacob Elordi, Kendall Jenner, Michelle Yeoh —, Steven Spielberg’s, E.T, Blazy, Jacopo M, Donatella Versace, Jonas Gustavsson, Maximilian Davis, Victor Virgile, Prada Sabato, Daniele Venturelli, Karen Elson, Roberto Cavalli, Piovanotto Marco, Rihanna —, Versace Kim Jones, Gabriel Bouys, Adrian Appiolaza, Marco Beroorello, Marco Bertorello, Ferragamo, Delphine Achard, Francesco Risso's Marni, Mattieu, Judy Blame, Justin Shin, Boss, Raf Simmons Organizations: Milan CNN, Milan, Brands, Prada, Bottega Veneta, Red Wing, Dolce, Gabbana, Rocky, Getty, Moschino, Milan Fashion Locations: —, Ferragamo, Bottega, buttoned, Marni, Milan, AFP, British

☆ Confused about the potential Qualcomm-Intel deal? Here's why it matters even if it doesn't happen.
▼ + stars: | 2024-09-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

In today's big story, why you should care about a potential Intel-Qualcomm deal , even if it might not work. Getting all that varied experience has proved particularly beneficial for TSMC in the age of cutting-edge mobile and AI chips. The US needs Intel to keep (and get better at) manufacturing chips. The problem with that is that this manufacturing business would have almost no customers, and would fall even further behind TSMC. Experts seem incredibly skeptical about a Qualcomm deal going through.

Persons: —, Jamie Dimon, Moneyball, Rupert Murdoch's, Chelsea Jia Feng, I'm, it's, Palantir alums, Jamie Dimon Tom Williams, he's, Goldman Sachs, Chelsea JIa Feng, ChatGPT, Vinod Khosla, Chris Gash, Lachlan Murdoch, Murdoch, Lachlan's, Caroline Ellison, Biden, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Milan Sehmbi, Amanda Yen Organizations: Service, Intel, Qualcomm, Business, Tech, Getty, TSMC, Inc, JPMorgan, Bank of America, Big Tech, Web Services, Employees, Bloomberg Global Business Forum, FAA, OPEC, Oil Locations: Taiwan, China, San Francisco, Nevada, New York, London

☆ China's worsening relationship with US businesses could put AI's chip supply on shaky ground
▼ + stars: | 2024-09-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, China isn't proving to be the economic promised land US companies once hoped for . US-China relations have been on shaky ground for a while, to put it mildly. But despite the growing animosity, US corporations' push to sell things to Chinese consumers has been a middle ground everyone can agree on. AdvertisementTaiwan Semiconductor Manufacturing Company makes vital hardware components for most the world's chip companies, including industry giant Nvidia. Nvidia CEO Jensen Huang recently said his company has a backup plan if things were to kick off in Taiwan .

Persons: —, Jamie Dimon, Tyler Le, Insider's Linette Lopez, It's, that's, Kiran Ridley, Stringer, Getty, Jensen Huang, Huang, Alyssa Powell, Trump, Harris, isn't, Howard Marks, Marks, Rebecca Noble, Vance, Tom Brady, Jeff Bezos, it's, Ryan Routh, Donald Trump, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Amanda Yen, Grace Lett, Milan Sehmbi Organizations: Service, Business, China Xinhua News Agency, Getty, Apple, Nike, Huawei, Taiwan Semiconductor Manufacturing Company, Nvidia, Billionaire, Economic Forum Locations: Washington ,, China, China . US, Washington, Beijing, Taiwan, USA, Florida, New York, London, Chicago

☆ European soccer roundup: Erling Haaland scores 100th Manchester City goal in controversial game against title rival Arsenal
▼ + stars: | 2024-09-23 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +8 min

The two sides met at City’s Etihad Stadium on Sunday with both teams eager to strike first in this year’s title race. Just before half-time, Arsenal attacker Leandro Trossard committed a foul before kicking the ball across the pitch, earning a controversial second yellow card. Matt West/ShutterstockAfter being reduced to 10 players, Arsenal manager Mikel Arteta adopted a highly defensive shape to try and protect the lead. “I think the win belongs to the players and for our fans,” Fonseca said after the game. A chaotic first half saw visiting Wolfsburg take a 3-2 lead before Piero Hincapié leveled things up shortly after half-time.

Persons: Erling Haaland, Pep Guardiola’s, Rodri, Riccardo Calafiori, Gabriel Magalhães, Leandro Trossard, Trossard, Michael Oliver, Matt West, Mikel Arteta, John Stones, Kyle Walker, ”, Robert Lewandowski, Ayoze Pérez, Pablo Torre, David Ramos, –, Marc, André ter Stegen, Blancos, Thibaut Courtois, Dani Carvajal, Rodrygo, Vinícius Jr, Mbappé, Carlo Ancelotti’s, Atlético, Matteo Gabbia, Christian Pulisic, Yann Sommer, Milan's Tijjani Reijnders, Alessandro Bastoni, Marco Luzzani, Federico Dimarco, Gabbia, Paulo Fonseca, ” Fonseca, we’ve, Serie A’s, Michael Olise, Jamal Musiala, Harry Kane, Serge Gnabry, Christina Pahnke, ” Kane, Kane’s, Xabi, Piero Hincapié, Victor Boniface Organizations: CNN, England’s Premier League Arsenal, Manchester, Premier League, City’s Etihad, Arsenal, Gunners, Londoners, City, BBC Radio, BBC Sport, La Liga Barcelona, Villarreal, La Liga, Torre, Catalans, Real Madrid, Espanyol, Madrid hasn’t, Barcelona, Serie, Italy’s, Milan, Internazionale, Derby, San, US, Inter, Torino, Hellas Verona, Germany’s Bundesliga, Bayern, Bundesliga, Dinamo Zagreb, Champions League, Werder Bremen, Getty, Bayer Leverkusen, Wolfsburg, Leverkusen Locations: Villareal, Raphinha, Milan, Bayern Munich, lederhosen, AFP

☆ RH CEO explains why his company doesn't have a social media presence
▼ + stars: | 2024-09-20 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

RH CEO Gary Friedman told CNBC's Jim Cramer on Friday why the upscale home furnishing retailer doesn't have any official social media accounts, saying paid promotions by online influencers aren't authentic. And, you know, having fake fans and people you pay talk about you on Instagram or TikTok or whatnot, it's not the truth." Friedman conceded that social media has exploded, and "the digital visualization and connectivity is real." However, he said that if consumers aren't interested in our showing enthusiasm for the brand, RH should do better work, not pay others to talk about the company. He claimed that RH still has a solid presence online, but not because of paid influencing or social media marketing on the company's part.

Persons: Gary Friedman, CNBC's Jim Cramer, Friedman, it's, RH, There's Locations: London, Paris, Milan, Madrid, U.S, North Carolina

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