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☆ Oil slips as U.S. storm threat eases, China stimulus disappoints
▼ + stars: | 2024-11-11 | by ( ) www.cnbc.com time to read: +2 min

Oil prices extended declines on Monday as the threat of a supply disruption from a U.S. storm eased and after China's stimulus plan disappointed investors seeking fuel demand growth in the world's No. Oil consumption in China, the world's driver of global demand growth for years, has barely grown in 2024 as its economic growth has slowed, gasoline use has declined with the rapid growth of electric vehicles and liquefied natural gas has replaced diesel as a truck fuel. Oil prices have also eased after concerns about supply disruption from storm Rafael in the U.S. Gulf of Mexico subsided. More than a quarter of U.S. Gulf of Mexico oil and 16% of natural gas output remained offline on Sunday, according to the offshore energy regulator. Looking ahead, uncertainty from policies under U.S. President-elect Donald Trump have clouded the global economic outlook although expectations that he could tighten sanctions on OPEC producers Iran and Venezuela and cut oil supply to global markets partly caused oil prices to gain more than 1% last week.

Persons: Tony Sycamore, Rafael, Donald Trump, refiners Organizations: Brent, West Texas, National People's Congress, ANZ, Central Economic Work Conference, U.S Locations: U.S, China, U.S . Gulf, Mexico, Iran, Venezuela

☆ ETF world buzzing about new cash flooding into funds seen winning from Trump trades
▼ + stars: | 2024-11-11 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

"For example, during Trump's previous administration, deregulation in the energy sector boosted oil and gas stocks, benefiting energy ETFs." Aggregate Bond ETF (AGG) and Vanguard Total Bond Market Index Fund ETF (BND), two of the world's largest bond ETFs, and longer-term funds like iShares 20+ Year Treasury Bond ETF (TLT). Crypto ETFS having big year and getting bigger Since launching in January, crypto ETFs have attracted roughly $70 billion in assets, one of the most successful ETF launches ever. Bitcoin ETFs including the iShares Bitcoin Trust (IBIT), the largest bitcoin ETF by assets under management, have seen significant inflows since October. Rosenberg at Texas Capital acknowledges that certain ETF sectors, like industrials ( Vanguard Industrials Index Fund ETF , or VIS; iShares U.S. Industrials ETF , or IYJ), "could be hurt by more tariffs."

Persons: Trump, Tom Lydon, John Davi, iShares Russell, ROE, Matt Bartolini, Bartolini, Gavi, Edward Rosenberg, Gary Gensler, Michael Novogratz, Cathie Wood, Todd Sohn, Wood, Davi, Rosenberg, industrials Organizations: Astoria, CNBC, Potential Trump, Bank ETF, Assets ETF, Trump, ETF Research, Street Global Advisors, Regional Bank ETF, Treasury, Aggregate Bond, Vanguard, Fund, Treasury Bond ETF, Texas, SEC, Commodity Futures, Galaxy Digital Holdings, ARK, Innovation, ARKK, Downside, China ETF, Texas Capital, Index, Industrials, U.S, Edge Locations: Astoria, Congress, rulemaking, Coinbase, China, Mexico

☆ Elon Musk and MAGA's next big fight: Who replaces Mitch McConnell?
▼ + stars: | 2024-11-11 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

Elon Musk and other MAGA figures are onto a new fight: Who will be the next Senate Majority Leader. John Thune and John Cornyn. AdvertisementWith President-elect Donald Trump now on his way to the White House, his allies are settling on a new target: Getting a loyalist installed as Senate Majority Leader. Ahead of Mitch McConnell's long-awaited retirement from leadership, Republicans are set to choose a new leader on Wednesday of this week. John Thune of South Dakota, John Cornyn of Texas, and Rick Scott of Florida.

Persons: Elon Musk, MAGA, Sen, Rick Scott, Sens, John Thune, John Cornyn, Trump, —, Donald Trump, Mitch McConnell's, John Thune of, John Cornyn of, Rick Scott of, Scott, Tucker Carlson, Robert F, Kennedy, Jr, Scott isn't, Kevin McCarthy, there's Elon Musk, Musk, Elon, Trump's, Cornyn, they'll, McConnell, that's, That's Organizations: Service, White, Republicans, Trump, GOP, Business, Senate Trump, Capitol, Republican, Punchbowl News Locations: Sens, John Thune of South Dakota, John Cornyn of Texas, Rick Scott of Florida, Florida, Texas, Ukraine

☆ Trump's proposed trade war raises the odds of a US recession to 75%, Wall Street strategist says
▼ + stars: | 2024-11-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Recession risk has jumped to 75% due to the potential for a trade ware under Trump, BCA Research said. Trump's proposed tariffs could lower household income and depress corporate investments. In a Friday note, Berezin increased the probability of an economic recession to 75% from 65%, citing the risk of a new trade war under Trump. On the campaign trail, Trump proposed implementing universal tariffs of 10%-20% on goods imported into the country and a 60% tariff on goods from China. Berezin cited a study from the Budget Lab at Yale that estimates Trump's proposed tariffs could reduce real disposable income for the median US household by $1,900-$7,600.

Persons: Trump's, —, Peter Berezin, Donald Trump's, Berezin, Trump Organizations: Trump, BCA Research, Service, Yale Locations: China

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Home Depot, Domino's, Wingstop, Warby Parker, Rivian, Bank of America & more
▼ + stars: | 2024-11-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Jefferies reiterates Nvidia and Marvell as buy The firm says the two chipmakers still have the most upside. Citi upgrades Bank of America to buy from neutral Citi says the bank could be a beneficiary of lighter regulation. Bank of America downgrades Rivian to neutral from buy Bank of America said it sees regulatory risk under a Trump administration. Bank of America upgrades Teledyne Technologies to buy from neutral The firm says it sees upside ahead for the industrial conglomerate. Goldman Sachs upgrades Wingstop to buy from neutral The firm says the wings restaurant has "best-in-class" growth.

Persons: William Blair, Warby Parker, Bernstein, Apple, Lowe's, Jefferies, Goldman Sachs, Sweetgreen, Goldman, outperformance, it's bullish, BNTX, Oppenheimer, Piper Sandler, Wells, Airbnb, Gross, Trump, TDY Organizations: Apple, Apple Intelligence, Nvidia, Marvell, Enterprise, JPMorgan, China EV, Catalyst, Holdings, Barclays downgrades, Body, Citi, U.S, Deutsche Bank, UBS, Molson Coors, OW, Bank of America, Trump Administration, " Bank of America, Teledyne Technologies Locations: AVGO, 4Q24, DPZ, UW

☆ Australian school named world’s best new building of 2024
▼ + stars: | 2024-11-08 | by ( Oscar Holland | ) edition.cnn.com time to read: +3 min

Singapore CNN —A humble suburban school in Australia has fended off competition from skyscrapers, museums and airport terminals to be named World Building of the Year 2024. Brett BoardmanA school had long been on the south Sydney site, though the old 1970s building was no longer fit for purpose, according to fjcstudio, the design firm behind the project. The World Building of the Year was selected from the winners of each category, as chosen by a panel of 175 festival delegates. Friday’s result marks the second consecutive year that the WAF judges opted for an educational building, with a serene boarding school in China taking last year’s title. Darlington Public School is also the second Sydney building to win in the past three years, after Quay Quarter Tower — dubbed the world’s first “upcycled” skyscraper for retaining two-thirds of an old high-rise on the site — won in 2022.

Persons: Singapore CNN —, Brett Boardman, fjcstudio, Alessandro Rossi, “, ”, — Organizations: Singapore CNN, Darlington Public School, Housing, Darlington Public, National Star Observatory of Locations: Singapore, Australia, Sydney, Chippendale, fjcstudio, WAF, ” Sydney, National Star Observatory of Cyprus, Polish, Turkey, China, Copenhagen, Denmark

☆ A Nobel Prize-winning scientist who wrote a book on aging cycles 6 miles a day at age 72. Here are 3 things he does to stay healthy.
▼ + stars: | 2024-11-08 | by ( Kim Schewitz | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementVenki Ramakrishnan, a Nobel laureate and former president of the world's oldest scientific academy, the Royal Society, has been watching as aging science and the hype around it has exploded. There have been some real scientific breakthroughs, deepening our understanding of the fundamental causes of aging, Ramakrishnan told Business Insider. AdvertisementCycling everydayExercise has all kinds of benefits for healthy aging, Ramakrishnan said. Research suggests that getting enough good quality sleep could add a few years to your life.

Persons: —, Venki, Ramakrishnan, He's, Michael Pollan's Organizations: Service, Royal Society, Business, Allied Market Research, FDA, British, of Sports Medicine, American College of Cardiology's Locations: Cambridge

☆ Inflation haunted Harris. If Trump isn’t careful, it will cost him too
▼ + stars: | 2024-11-07 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —Donald Trump rode a powerful wave of discontent over the cost of living back to the White House. Trump reminded voters often that inflation wasn’t a problem when he was calling the shots. But if he’s not careful, Trump could have an inflation problem of his own. They point to study after study that shows Americans bore almost the entire cost of Trump’s tariffs on China. “When Trump uses tariffs as a negotiating tool, I’m fine with that,” Moore said during a phone interview in late October.

Persons: Donald Trump, Trump, he’s, ” Ryan Sweet, won’t, ” Sweet, “, Joe Biden, CNN’s Phil Mattingly, ” He’s, Trump’s, “ We’re, ” Daniel Alpert, CNN’s Allison Morrow, Stephen Moore, CNN he’s “, ” Moore Organizations: New, New York CNN, Voters, Oxford Economics, CNN, Trump, Federal, Peterson Institute for International Economics, Peterson Institute, National Retail Federation, Westwood Capital Locations: New York, Washington, Pennsylvania, China

☆ China October exports record highest jump in 19 months, imports decline more than expected
▼ + stars: | 2024-11-07 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

China's exports in October rose at their fastest pace in 19 months, sharply beating analysts' estimates, according to data from the country's customs agency on Thursday. Exports rose by 12.7% in October from a year ago in U.S. dollar terms, their highest jump since March 2023, according to LSEG data. Analysts had pegged exports growth at 5.2% year on year in October, according to a Reuters poll. Analysts had forecast a decline of 1.5% in October exports, according to a Reuters poll. The world's second-largest economy has been grappling with weakening domestic consumption and a protracted property crisis, with exports being a rare bright spot.

Persons: Bruce Pang Organizations: Analysts, JLL, CNBC Locations: Qingdao Port, Shandong province, Qingdao, China, Greater China

☆ The Federal Reserve cuts interest rates by a quarter point after election. Here's what that means for you
▼ + stars: | 2024-11-07 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

Mortgage ratesHousing affordability has been a major issue due in part to a sharp rise in mortgage rates since the pandemic. Trump has said he'll bring down mortgage rates — even though 15- and 30-year mortgage rates are fixed, and tied to Treasury yields and the economy. Mortgage rates are unlikely to fall significantly, given the current climate, explained Jacob Channel, senior economist at LendingTree. Federal student loan rates are fixed, so most borrowers won't be immediately affected. But refinancing a federal loan into a private student loan will forgo the safety nets that come with federal loans, such as deferments, forbearances, income-driven repayment and loan forgiveness and discharge options.

Persons: Joshua Roberts, Matt Schulz, Trump, Jessica Caldwell, Edmunds, Trump's, Caldwell, Michele Raneri, Jacob Channel, Mark Kantrowitz Organizations: Federal, Reuters, Auto, Fed, Treasury, TransUnion, Mortgage, Association . Locations: Washington ,, Edmunds, U.S

☆ Goldman Sachs slashes European growth forecasts on Trump win
▼ + stars: | 2024-11-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —President-elect Donald Trump’s proposed protectionist policies, including hefty tariffs, will hurt Europe’s economic standing — leaving crisis-hit Germany particularly vulnerable, Goldman Sachs predicts. Goldman Sachs expects gross domestic product across the 20 countries that use the euro to expand 0.8% next year, down from the 1.1% it forecast previously. Goldman Sachs’ central expectation is for “a more limited set of tariffs on European economies,” targeting primarily their auto exports. Goldman Sachs now expects the German economy to grow only 0.5% next year because of trade tensions, just over half the 0.9% growth it forecast previously. “For European businesses, Trump’s return to the White House implies considerable trade policy risks and geopolitical uncertainty,” Berenberg chief economist Holger Schmieding wrote in a note Thursday.

Persons: Donald Trump’s, Goldman Sachs, Trump’s, Trump, ”, Holger Schmieding, “ Organizations: London CNN —, NATO, Republican, European Union, Volkswagen, VW Locations: Germany, United States, Europe, Ukraine, China

☆ Rivian lowers earnings guidance after missing Wall Street's third-quarter expectations
▼ + stars: | 2024-11-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Rivian Automotive lowered its earnings forecast for the year after missing Wall Street's third-quarter expectations, including a significant miss in revenue. That compares to a previous guidance of roughly $2.7 billion loss. The company reported a negative gross profit of $392 million for the third quarter compared with a loss of $477 million a year earlier. The automaker's net loss narrowed year-over-year to $1.1 billion compared to $1.37 billion during the third quarter of 2023. Its revenue compared to a year ago dropped by 34.6% amid supplier disruptions that impacted the company's production.

Persons: Wall, Rivian Organizations: Workers, Rivian Automotive Locations: Normal , Illinois, U.S

☆ The big Trump losers: These stocks could have an overhang for a while
▼ + stars: | 2024-11-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Stocks may be in rally mode after former President Donald Trump's election victory, but not every sector is poised to get a lift. Clean energy One potential big loser is solar and clean energy stocks that benefited from tax credits instituted under President Joe Biden 's Inflation Reduction Act. Retailers Along with changes to clean energy, Trump has hinted at tariffs to buoy U.S. producers. The firm also highlighted companies with greater than 20% China exposure, including Crocs and American Eagle Outfitters , as being among potential tariff losers. STZ 1D mountain Constellation Brands falls amid Trump tariff concerns "With a 50% American whiskey tariff, we would expect BFB to pass some cost along to the consumer, which would put additional pressure on volumes," he wrote.

Persons: Donald Trump's, Kamala Harris, Joe Biden, Trump, Goldman Sachs, Brian Lee, Lee, Melanie Nuñez, Cowen's Robert Moskow, Brown, Forman, Bank of America's Joanna Gajuk, Gajuk, bode, Andrew Mok Organizations: NBC News, Dow Jones, Nasdaq, Technologies, Enphase Energy, Bank of America, American Eagle Outfitters, Constellation Brands, Diageo, EU, Consumer, . Hospital, Republican, Bank of America's, Ardent Health Partners, Universal Health Services, HCA Holdings, Barclays Locations: financials, U.S, China, Scotch, Mexico

While on the campaign trail, Trump threatened retribution against some tech companies, including jailing Meta's chief, Mark Zuckerberg. "That is likely to have devastating consequences for US tech companies that sell in foreign markets as well as crippling domestic consumption." Hay said that while most presidents wouldn't have any say on existing cases, "Trump is a bit more of a wild card." AdvertisementBut still, he said, new guidelines wouldn't have much impact on the biggest tech companies. There are fears that if H1-Bs are restricted under the second Trump administration, the US could lose its competitive edge on the world stage.

Persons: Donald Trump, —, Trump, Elon, marveling, — Musk, jailing, Mark Zuckerberg, Zuckerberg, Mark Lemley, Lemley, GlobalData's Neil Saunders, Chris Walton, Walton, there's, George Hay, Hay, wouldn't, Kamala Harris, Dan Romanoff, Joe Biden, Anna Rathbun, Biden, he's, Rathbun, James Brundage, Saunders, Valerie Wirtschafter, Harris, Romanoff, Wirtschafter Organizations: Trump, Big, Service, SpaceX, Big Tech, Google, Justice Department, Department, Barclays, Stanford Program, Law, Science & Technology, Business, Retail, Target, Apple, Cornell University, Republicans, Morningstar, AT, Time Warner, Republican, Walmart, Brookings, Artificial Intelligence, Emerging Technology Initiative Locations: Americas

☆ Trump's presidency will hurt Europe's economic growth amid renewed trade tensions, Goldman Sachs says
▼ + stars: | 2024-11-06 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

Europe could take a hit to GDP in a second Trump presidency, Goldman Sachs analysts say. Europe could face a big hit to economic growth as trade tensions increase, Goldman Sachs analysts said. The analysts downgraded their growth forecasts across the region, down to 0.8% from their previous forecast of 1.1% for 2025. AdvertisementThe analysts point to renewed trade tensions fueled by Trump's proposal for sweeping tariffs on all US imports. More significant than the actual tariff increases, though, will be the trade policy uncertainty that comes with them, the analysts say.

Persons: Goldman Sachs, —, Trump, Joachim Nagel, Christine Lagarde Organizations: Trump, Service, EU, NATO Locations: Europe, TPU, Germany, Sweden, Switzerland, China, Ukraine

AI regulation is likely to change under Trump, but major antitrust cases are unlikely to be impacted. While on the campaign trail, Trump threatened retribution against some tech companies, including jailing Meta chief Mark Zuckerberg. "That is likely to have devastating consequences for US tech companies that sell in foreign markets as well as crippling domestic consumption." AdvertisementBut still, new guidelines won't have much impact on the biggest tech companies, Hay said. Experts fear that, if H1-Bs are restricted under the second Trump administration, the US could lose its competitive edge on the world stage.

Persons: Donald Trump, —, Trump, Elon, marveling, — Musk, jailing, Mark Zuckerberg, Zuckerberg, Mark Lemley, Lemley, Neil Saunders, Chris Walton, Walton, there's, George Hay, Hay, wouldn't, Kamala Harris, Dan Romanoff, Joe Biden, Anna Rathbun, Biden, Rathbun, James Brundage, Ernst, Saunders, Valerie Wirtschafter, Harris, Romanoff, Wirtschafter Organizations: Trump, Big, Service, SpaceX, Big Tech, jailing Meta, Google, Justice Department, Department, Barclays, Stanford Program, Law, Science & Technology, Retail, Target, Apple, Cornell University, Republicans, Morningstar, AT, Time Warner, Republican, Walmart, Brookings, Artificial Intelligence, Emerging Technology Initiative Locations: Americas

For retailers and consumers finally feeling some relief from inflation, President-elect Donald Trump's tariffs proposal introduces fresh uncertainty around how prices could change during his presidency, analysts said Wednesday. Companies, retail trade groups and industry analysts have warned the move could fuel higher prices on a wide range of Americans' purchases such as sneakers and party supplies. "The adoption of across-the-board tariffs on consumer goods and other non-strategic imports amounts to a tax on American families," National Retail Federation CEO Matthew Shay said in a statement Wednesday. "Despite Trump's assertions to the contrary, tariffs are paid by the companies or entities importing goods and not by the countries themselves. Over time, supply chains would adjust to this change in tariff policy but it would be "incredibly disruptive" in the short term, said Saunders.

Persons: Donald, Trump, Matthew Shay, GlobalData, Neil Saunders, Saunders Organizations: NBC, China . Companies, Retail Federation Locations: China

Capital One Quicksilver Student Cash Rewards Credit Card OverviewCapital One Quicksilver Student Cash Rewards Credit Card Apply now lock icon An icon in the shape of lock. Capital One Savor Student Cash Rewards Card ReviewCapital One Quicksilver Student Card vs. the Bank of America® Unlimited Cash Rewards Credit Card for StudentsThe Bank of America® Unlimited Cash Rewards Credit Card for Students is another strong option, offering a flat 1.5% cash back on all purchases, similar to the Capital One Quicksilver Student card. Bank of America Unlimited Cash Rewards Card for Students ReviewCapital One Quicksilver Student Card Frequently Asked QuestionsWhat is the difference between Quicksilver Rewards and Quicksilver Rewards for Student? The difference between the Quicksilver Rewards Card and the Quicksilver Rewards Card for Students is that the former offers more perks. Why You Should Trust Us: How We Reviewed the Capital One Quicksilver Student Cash Rewards Credit CardOur experts evaluated the Capital One Quicksilver Student Cash Rewards Credit Card relative to other student credit cards and cards for folks with fair or average credit.

Persons: it's, That's, you'll, —, There's, Modest, David McMillin David McMillin, Guy, David, he's, Angela Fung, Read, Gabriel Vito Gabriel Vito, Gabriel, Education Gabriel, ExperienceExpertiseEducation Read Organizations: Business, Bank of America, Capital, Chevron, Entertainment, Walmart, Gas, Quicksilver, The Bank of America, Review, Finance, Forbes, CNN, University of California, Banking, Education, The University of California Locations: Capital One's, Chicago, Alaska , Utah , Oklahoma, Vermont, Riverside

☆ A Controversial Vacation Homes Tax Is Dividing Lake Tahoe
▼ + stars: | 2024-11-05 | by ( Amanda Yen | ) www.businessinsider.com time to read: +12 min

My grandparents' vacation cabin in Lake Tahoe is the stuff of legend. My grandparents' little house in South Lake Tahoe, which they bought for $113,000 in 1984, quickly became a haven for my family. Framers of the Tahoe tax measure took inspiration from Berkeley, California, which adopted a vacancy tax this year. Since the city of South Lake Tahoe was incorporated in 1965, it's been populated by a healthy mix of year-round and seasonal residents. As of October 2024, the median sales price for homes in South Lake Tahoe was $750,000, according to Realtor.com.

Persons: George Rose, it's, Amelia Richmond, —, Steve Teshara, Teshara, Frederic Lewis, Sherri Maslyar, Jeff Cowen, we'd, Amanda Yen, I'd Organizations: of Commerce, South Tahoe Association of Realtors, BI, Colorado and, Survey, Tahoe Chamber of Commerce, Realtors ' Association, Business, Tahoe, Planning Association Locations: Tahoe, South Lake, Berkeley , California, Oahu, Colorado, Aspen, Vail, Breckenridge, Bay, Colorado and Utah, Park City , Utah, Richmond, Emerald

☆ Cramer raves about Salesforce's star-powered plan to raise awareness of its new AI agents
▼ + stars: | 2024-11-04 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. In his Sunday column, meanwhile, Jim Cramer looked at 11 earnings surprises , including a feeling that both presidential candidates would support solar. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, There's, that's, there's, Eli Lilly, Lilly, Stanley Black, Decker, Nextracker, Jim, Salesforce, Evercore, Agentforce, he's, Saleforce's, Matthew McConaughey, Stocks, Sherwin, Berkshire Hathaway, Jim Cramer's, NVDA Organizations: CNBC, Fed, Devices, Nvidia, Intel, Dow, Therapeutics, Depot, ISI, Abercrombie, Fitch, Constellation Energy Locations: Friday's, Williams, Berkshire, Marriott

☆ China's Singles Day shopping festival is more than halfway over. Here's how consumers are spending
▼ + stars: | 2024-11-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

China's e-commerce giants stopped reporting Singles Day GMV in 2022 during the pandemic. Singles Day GMV this year as of Oct. 30 was 845 billion yuan ($119.1 billion), according to research firm Syntun. Subsidies boost appliancesHelping boost sales this Singles Day are China's subsidies for trade-ins of home appliances, launched in late July. They predict 4% to 5% growth in Singles Day GMV, with sales in the home appliance category supported by the trade-in program. "Something that kind of came out of nowhere, into all of a sudden really, really big numbers."

Persons: Alibaba, Jacob Cooke, JD's, ByteDance's Douyin, Cooke, Louis Vuitton, we've, UOB Kay Hian, JD.com, Dave Xie, Oliver Wyman, Xie, There's, Liang, Chiikawa, Taobao, Tmall Organizations: Visual China, Getty, Alibaba, Technologies, CNBC, Louis Locations: Lianyungang, Jiangsu Province, China, BEIJING, Asia, Alibaba, British

☆ One of Boeing's biggest customers leveled fresh criticism over ongoing 737 Max delivery delays
▼ + stars: | 2024-11-04 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

Ryanair, Europe's biggest airline, repeatedly criticized Boeing in its latest earnings report. The airline said that this increase came "despite repeated Boeing delivery delays." Related Video"Many customers are switching to Ryanair for our lower air fares," Ryanair's CEO Michael O'Leary said. Ryanair CEO Michael O'Leary has been one of Boeing's harshest critics in recent months. Related stories"While we continue to work with Boeing leadership to accelerate aircraft deliveries ahead of peak S.25, the risk of further delivery delays remains high," the CEO added.

Persons: —, Michael O'Leary, O'Leary, Yves Herman Ryanair, machinists, Kelly Ortberg, Tim Clark, Scott Kirby Organizations: Ryanair, Europe's, Boeing, Service, REUTERS, Alaska Airlines, Emirates, United Airlines Locations: Alaska

☆ Russia hit Google with a fine so big it defies comprehension, exposing a legal system adrift
▼ + stars: | 2024-11-04 | by ( Joshua Nelken-Zitser | Kieran Corcoran | ) www.businessinsider.com time to read: +6 min

The fine points to a Russian legal system focused more on symbolic punishment than enforcement. All the same, that is what a Russian court maintains the company owes, as punishment for suspending accounts from YouTube. Related storiesLegal experts told Business Insider what it symbolizes is a Russian legal and economic system estranged from much of the world. AdvertisementRussia has effectively annulled intellectual property rights, enabling its companies to freely use patents and designs from Western companies. The scholars BI spoke to did not expect any other nation's court to try to enforce the Google fine.

Persons: —, Dmitri Peskov, Tyler Kustra, Kustra, Heineken, Christine Abely, Abely, Nathanael Tilahun, hasn't, Oleksandra, Snellman Organizations: YouTube, Google, Service, UK's University of Nottingham, Deutsche Bank, Commerzbank, New England Law, University of Essex, Bloomberg Locations: Russian, Russia, Ukraine, Dutch, Hong Kong , South Africa, Netherlands

☆ A resilient economy and strong earnings are overpowering normal election worries
▼ + stars: | 2024-11-04 | by ( Bob Pisani | ) www.cnbc.com time to read: +8 min

.SPX YTD mountain S & P 500, YTD It's because the economy and earnings remain resilient. That is the main reason the S & P 500 is less than 2% from its historic high. Third quarter earnings for the S & P 500 are up 8.4%, well above the 6.0% estimated at the start of October. It's fourth quarter earnings that matter Remember, the most important thing to watch is the trend and whether it is accelerating or decelerating. The S & P 500 is up 50% in those two years.

Persons: There's, Tom Lee, Phil Mackintosh, Mackintosh, John Butters, Scott Chronert, Alec Young, MapSignals.com, Young, We're Organizations: Tech, Nasdaq, Democrat, Republican, Citigroup Locations: backwardation

☆ DJT shares implode right before the election, losing Trump $2.4 billion in net worth
▼ + stars: | 2024-11-01 | by ( Matt Egan | David Goldman | ) edition.cnn.com time to read: +3 min

CNN —Former President Donald Trump’s social media stock is plunging just ahead of the election, cutting deeply into his net worth. Truth Social owner Trump Media & Technology Group’s share price plunged another 9% on Friday after tumbling 12% Thursday and 22% Wednesday — Trump Media’s worst one-day loss since going public in March. Trump Media’s shares, which trade under the ticker “DJT,” have become a proxy for how traders think the presidential election will turn out. Trump Media did not release any major news that would explain the nosedive. The enormous gains boosted Trump Media’s value to $10.3 billion as of Tuesday’s close.

Persons: Donald Trump’s, —, Trump, Kamala Harris, ”, Steve Sosnick, ” Sosnick, George Kailas, he’s, ” Kailas, … Organizations: CNN, Truth Social, Trump Media & Technology, Trump, Trump Media’s, Interactive Brokers, Trump Media, ” Trump, Elon Musk, Similarweb, CBS, Paramount Global

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