DIRS.INFO The most relevant business & tech news

☆ BlackRock is buying HPS, rounding out a year of blockbuster deals
▼ + stars: | 2024-12-03 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +5 min

AdvertisementBlackRock is nearing a deal to buy private credit firm HPS Investment Partners. HPS would be another major private markets deal for the $11.5 trillion money manager. BlackRock, known for its ETFs, is hoping a shift to private markets will drive growth. BlackRock is set to buy HPS Investment Partners, a private credit behemoth managing $150 billion, in an all-stock deal worth around $12 billion, the Wall Street Journal reported Tuesday morning. The three will now join BlackRock's global executive committee and lead a new unit combining HPS and BlackRock's existing private credit business, according to the WSJ report.

Persons: HPS, Larry Fink, Fink, Izzy Englander's, Scott Kapnick, Goldman Sachs, Scot French, Michael Patterson, Cindy Ord, BlackRock, GIP, Martin, It's Organizations: BlackRock, HPS Investment Partners, Wall Street, Global Infrastructure Partners, Management, Barclays, Investment, JPMorgan, Highbridge Capital Management, HPS Investment, Getty, Private, Wall, Bloomberg, Apollo, KKR, Tennenbaum Capital Partners Locations: BlackRock

☆ Alex Consani becomes first transgender Model of the Year
▼ + stars: | 2024-12-03 | by ( Oscar Holland | ) edition.cnn.com time to read: +4 min

CNN —American model Alex Consani has become the first transgender woman to win Model of the Year, following a string of high-profile runway appearances for labels like Chanel, Stella McCartney and Victoria’s Secret. “Because change is more than possible — it’s needed.”Consani takes the stage at the Royal Albert Hall in London to accept the award for Model of the Year. In October, Consani and Valentina Sampaio made history by becoming the first trans models to appear on the runway at the Victoria’s Secret Fashion Show. Black trans model Kai-Isaiah Jamal was among the nominees for last year’s award, which was ultimately won by plus-size model Paloma Elsesser. Categories for the best British menswear and womenswear designers were meanwhile awarded to Grace Wales Bonner and Simone Rocha, respectively.

Persons: Alex Consani, Chanel, Stella McCartney, Consani, Ashley Graham, Nava Mau, Jeff Spicer, Claudia Schiffer, Hailey Bieber, Hadid, Tom Ford, Alexander McQueen, Versace, Valentina Sampaio, Dilara Findikoglu, —, Connie Fleming, Aaron Rose Philip —, “, Kai, Isaiah Jamal, Paloma Elsesser, Jonathan Anderson, Loewe, JW Anderson, Anna Wintour, Rihanna, Samir Hussein, Debbie Harry, Rita Ora, Venus Williams, Rocky, Grace Wales Bonner, Simone Rocha Organizations: CNN, Royal Albert Hall, IMG, Turkish, British Fashion Council, Rocky, London Fashion Week’s Locations: American, London, TikTok, British, Dilara Findikoglu , California, Palestine

☆ BYD raced past its annual delivery target ahead of schedule, throwing down the gauntlet for Tesla
▼ + stars: | 2024-12-03 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

The automaker has thrown down a gauntlet for Tesla, which faces a battle to beat 2023's record sales. Tesla and its Chinese rival are locked in a battle to become the world's largest EV company. BYD has surpassed its annual sales target a month ahead of schedule, throwing down a gauntlet for Tesla as Elon Musk's company scrambles to meet its own annual goal. The Chinese EV giant delivered 504,000 passenger vehicles in November, according to figures released on Sunday. BYD has now sold over 3.7 million cars this year, meaning it has smashed its annual target of 3.6 million sales with a month to go.

Persons: BYD, Tesla, scrambles, Elon Musk Organizations: Tesla, EV, —, Elon, BYD Locations: China

☆ OpenAI hires first marketing chief from Coinbase
▼ + stars: | 2024-12-03 | by ( Hayden Field | ) www.cnbc.com time to read: +1 min

OpenAI has hired its first chief marketing officer, nabbing Kate Rouch from crypto company Coinbase . Rouch joined Coinbase in August 2021 to lead global marketing and public relations, and oversaw the company's Super Bowl ads. But with the generative AI arms race heating up, OpenAI's latest hire is an indication that it plans to invest in marketing. OpenAI confirmed to CNBC that the company has no current plans to debut a Super Bowl ad in 2025. OpenAI faces competition from Anthropic, the company behind the Claude chatbot, as well as from tech giants Google, Amazon, Microsoft and Meta.

Persons: OpenAI, nabbing Kate Rouch, Rouch, it's, Claude chatbot, Elon Musk Organizations: Coinbase, Meta, Instagram, Microsoft, CNBC, Google Locations: Anthropic

☆ South Korea's inflation climbs in November, but misses expectations
▼ + stars: | 2024-12-03 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

South Korea's inflation rate climbed in November to 1.5% year on year, from a 45-month low in October, as the country grapples with a weakening Korean won and slowing exports. Last Thursday, South Korea's central bank unexpectedly cut rates by 25 basis points to 3%, marking the first time that the Bank of Korea had enacted two back-to-back cuts since 2009. South Korea narrowly avoided a technical recession in the third quarter, with GDP growing 0.1% quarter on quarter, according to the bank's advance estimates, following a contraction of 0.2% in the second quarter. South Korea's currency has weakened against the greenback over October and November, hitting a two-year high of 1,411.31 as tariff fears from the incoming Trump administration take hold. Data from the World Integrated Trade Solution platform — set up by the World Bank — lists the U.S. as South Korea's second largest trade partner.

Persons: BOK Organizations: Reuters, Bank of, Trump, World, World Bank Locations: Seoul, Korean, Bank of Korea, Korea

☆ CEO of a $4.5 billion AI company reveals his 6 predictions for the industry next year, including China leading the US
▼ + stars: | 2024-12-03 | by ( Jaures Yip | ) www.businessinsider.com time to read: +5 min

AdvertisementHugging Face's CEO predicts the first major AI protest and market disruptions in 2025. While people are preparing their New Year's resolutions, one AI company CEO has a different habit: locking in his predictions for what will happen in the industry in 2025. Clement Delangue, CEO of the $4.5 billion startup Hugging Face, laid out six predictions for AI in the new year. Related storiesPersonal AI robotsWith companies including Tesla and Jeff Bezos-backed Physical Intelligence already developing AI robots, Delangue predicts that these robot assistants will soon be available in the mass market. China will lead the AI raceWith the US and China battling it out for AI dominance, Delangue predicts that "China will start to lead the AI race."

Persons: Clement Delangue, Fabrice Beaulieu, Delangue, Klarna, Jeff Bezos, Elon Musk, Peggy Johnson, China's, Qwen2, Google's, Demis Hassabis, John Jumper, Hassabis Organizations: Delangue, Intelligence, Robotics, GXO Logistics, Baidu Locations: China

☆ Thieves steal van containing 2,500 pies from Michelin-starred chef
▼ + stars: | 2024-12-03 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

London CNN —Thieves in northern England might have bitten off more than they can chew after stealing a van carrying 2,500 pies, worth about £25,000 ($31,600). Michelin-starred chef Tommy Banks said on Monday that the pies were loaded and ready to be delivered to York Christmas Market when the van was stolen. “They probably didn’t bargain for the nearly ton of pies that is in the back of it (the van),” he added. If you are the thieves and read this I urge you to… drop the pies off somewhere. “Also I think you are a thieving piece of sh*t and I hope you don’t get any presents this Christmas,” added Banks.

Persons: Tommy Banks, “ We’ve, ”, Banks, “, they’ve, scammers Organizations: London CNN, Michelin, York, North Yorkshire Police Locations: England, Oldstead, London

☆ Princess of Wales joins royals for Qatar state visit as Queen Camilla misses welcome due to illness
▼ + stars: | 2024-12-03 | by ( Catherine Nicholls | Max Foster | ) edition.cnn.com time to read: +3 min

However, Queen Camilla was absent from the start of proceedings due to a lingering chest infection contracted last month. On Wednesday, the emir will visit the Royal Military Academy Sandhurst in Berkshire, where he used to study. The Princess of Wales greets dignitaries as she arrives for the ceremonial welcome for the Emir of Qatar at Horse Guards Parade. Queen Camilla was originally set to attend, but pulled out after picking up a chest infection following her overseas visit to Australia and Samoa. Camilla missed the open-air arrival ceremony for the Qatari emir but was expected to attend lunch at the palace as well as the banquet.

Persons: London CNN — Catherine, Princess, Queen Camilla, Kate, William , Prince of, Sheikh Tamim bin Hamad, Khalifa Al Thani, Sheikha Jawaher, James Park, King Charles III, King Charles, Keir Starmer, Wales, Henry Nicholls, Reuters Kate, William, Camilla Organizations: London CNN, Horse Guards, 1st Battalion Welsh Guards, Royal Military Academy Sandhurst, Downing, UK, Reuters, Windsor, CNN’s Royal Locations: Wales, Qatar, United Kingdom, William , Prince of Wales, St, Buckingham Palace, Whitehall, British, Berkshire, Southport, England, London, Australia, Samoa

☆ Florida woman who led $200 million Ponzi scheme sentenced to 20 years in prison
▼ + stars: | 2024-12-03 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Screenshot of Johanna Michely Garcia of MJ Capital Funding, who was sentenced on Dec. 3, 2024, to 20 years in prison in a Ponzi scheme. A Florida woman who pleaded guilty for her role in a Ponzi scheme that raked in nearly $200 million was sentenced Tuesday to 20 years in prison. Judge Jose Martinez also sentenced Garcia to three years of supervised release and a $100 special assessment, plus additional restitution which will be determined on March 3, the case docket shows. "As a result, Garcia paid investors by running a large Ponzi fraud scheme, paying existing investors using new investor funds while misappropriating millions of dollars for her own personal benefit." In 2021, investors in MJ Capital filed a lawsuit accusing Wells Fargo Bank of aiding the fraud scheme by failing to follow its own anti-money laundering policies.

Persons: Johanna Michely Garcia, Johanna Garcia, Judge Jose Martinez, Garcia, Wells, Law360, Pavel Ramon Ruiz Hernandez, Prosecutors, Ruiz Hernandez Organizations: MJ, Investors, MCAs, MCA, MJ Capital, Bank, FBI, Securities and Exchange Commission, Prisons Locations: Florida, Broward County, U.S, MCAs

☆ The most popular Wikipedia pages of 2024
▼ + stars: | 2024-12-03 | by ( John Towfighi | ) edition.cnn.com time to read: +7 min

From queries about US politics to cricket in India, Wikipedia has become a source of information for millions of people across the globe. US politics and pop culture dominatedWikipedia’s most viewed pages of 2024 were largely related to US popular culture and politics. Project 2025 also got a place in the top 10, coming in ninth with nearly 20 million views. The Wikipedia page about the brothers received over 26 million views in 2024. The top 25 most viewed Wikipedia pages of 2024, ranked by page views:1.

Persons: Anusha Alikhan, Taylor Swift, Kamala Harris, Donald Trump, JD Vance, Carlos Osorio, Elon Musk, Trump, who’s, Joe Biden, Robert F, Kennedy Jr, Tim Walz, Lyle, Erik Menendez, ”, Barbie ”, “ Oppenheimer ”, Griselda Blanco, Swift, Sean “ Diddy ” Combs, Liam Payne, Alikhan, Narendra Modi, Adnan Abidi, Cristiano Ronaldo, “ Deadpool, Kalki, Sean Combs Organizations: CNN, Wikimedia Foundation, Reuters, “ Department, Government, Democratic, Netflix, Wikimedia, Indian Premier League, India, Indian, Bharatiya Janata Party, UEFA, United Locations: India, Grand Rapids , Michigan, Minnesota, Colombian, British, New Delhi, ChatGPT, United States

☆ Jakob Ingebrigtsen: Olympic champion’s father to stand trial over physical and mental abuse charges
▼ + stars: | 2024-12-03 | by ( George Ramsay | ) edition.cnn.com time to read: +4 min

CNN —The father of decorated Norwegian distance runner Jakob Ingebrigtsen will stand trial next year after being charged with physical and mental abuse of his son, Norwegian public prosecutors told CNN Sport. “I can confirm that Gjert Ingebrigtsen on November 29th was indicted by our office for physical and mental abuse of his son Jakob Ingebrigtsen,” public prosecutor Birgitte Budal Løvlund told CNN. Jakob Ingebrigtsen is one of the world’s most successful track athletes and a huge star in Norway. From left to right, Henrik, Jakob and Filip Ingebrigtsen celebrate during the 2018 European Championships in Berlin. In a story for Norwegian newspaper VG published last year, Jakob, Henrik and Filip spoke about feeling “discomfort and fear” around their father since they were children.

Persons: Jakob Ingebrigtsen, Gjert Ingebrigtsen, – Henrik, Filip, Jakob –, Ingebrigtsen, Birgitte Budal Løvlund, ” Løvlund, “, John Christian Elden, Heidi Reisvang, Elden Advokatfirma, Henrik, Jakob, Filip Ingebrigtsen, Alexander Hassenstein, “ Jakob, Espen Skoland, ”, Gjert, VG, Per, Gilje Nordås Organizations: CNN, CNN Sport, Paris Olympics, “ Locations: Norwegian, Sør, Rogaland, Norway, Tokyo, Berlin

☆ Jennifer Lopez said she wondered whether she was enough for her kids as a single mom
▼ + stars: | 2024-12-03 | by ( Erin Liam | ) www.businessinsider.com time to read: +3 min

Jennifer Lopez said she asked herself if she was enough for her kids when she was a single mom. In an interview with Entertainment Weekly published on Monday, the actor opened up about being a single mom. Related Video Why childcare has become so unaffordable"I've been a single mom at times in my life and [I've asked], 'Am I enough for them?'" In the film "Unstoppable," Lopez plays Judy Robles, the mother of NCAA wrestler Anthony Robles. In April, Ashley Espinoza, who has a daughter, wrote for BI about the loneliness of being a single parent.

Persons: Jennifer Lopez, Anthony Robles, Marc Anthony, I've, Lopez, Emme, Max, Judy Robles, Robles, he's, Kelly, Mark, Ben Affleck, Hoda Kotb, I'm, Ashley Espinoza, Sheila Hageman, she's Organizations: Entertainment, BI

☆ Netflix Stat Shows Why It Could Raise Prices Again
▼ + stars: | 2024-12-03 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

AdvertisementNew survey data from Evercore suggests Netflix has room to raise prices. Netflix's subscriber gains from its password-sharing crackdown could be waning, and some on Wall Street think it'll raise prices soon to keep its growth going. Its quarterly survey of Netflix subscribers, published December 1, showed that Netflix is in a strong position based on market penetration, satisfaction, and likelihood of canceling. Netflix's lower-priced ad tier has also increasingly kept people from canceling while giving the streamer cover to raise prices on its pricier, ad-free tiers. The last time Netflix raised prices on its Standard ad-free plan was January 2022, when it raised it by $1.50 to $15.49.

Persons: Paul, Tyson, they'd, Disney's Hulu, Evercore, Erik, Lyle Menendez, Jake Paul, Mike Tyson, Greg Peters, it's, Peters Organizations: Netflix, ISI, Citibank, Consumers, Amazon's, WWE Locations: Europe, Japan

☆ A KLM Boeing 777 turned around over the Atlantic, leaving passengers on a 4-hour flight to nowhere
▼ + stars: | 2024-12-03 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

AdvertisementA KLM Boeing 777 flying from the Netherlands to South America turned around over the Atlantic Ocean. A KLM plane U-turned over the Atlantic Ocean, leaving passengers with a four-hour flight to nowhere . The Boeing 777 left Amsterdam for Paramaribo, the capital of the small South American nation of Suriname on Sunday. But two hours into the journey and around 900 nautical miles from Amsterdam, the Boeing 777 turned around over the ocean and headed back. In late October, a British Airways Boeing 777 developed a problem over the Atlantic.

Persons: São Paulo Organizations: KLM Boeing, KLM, Boeing, Amsterdam Schiphol Airport, Aviation Herald, Passengers, American Airlines, British Airways Boeing, Air Locations: Netherlands, South America, Suriname, Amsterdam, Paramaribo, American, Dutch, Brazil, Miami, London, Air France, Canada's

☆ China Announces a Ban on Rare Minerals to the U.S.
▼ + stars: | 2024-12-03 | by ( David Pierson | More About David Pierson | ) www.nytimes.com time to read: +1 min

China said on Tuesday it would begin banning the export of some rare minerals to the United States, in an escalation of the tech war between the world’s two biggest powers. China produces almost all the world’s supply of critical minerals needed to make advanced technologies such as semiconductors. Beijing has been tightening its grip on the materials, also known as rare earths, in retaliation for U.S. export controls. In October, China began requiring its exporters to disclose, step by step, how the minerals would be used in Western supply chains. The move was the third significant action in the past three years in the Biden administration’s bid to prevent China from catching up to the United States in cutting-edge technologies.

Persons: Biden Organizations: China’s Ministry of Commerce, Biden Locations: China, United States, Beijing

☆ KBW upgrades Citi, says the bank trades at a big discount to peers
▼ + stars: | 2024-12-03 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

The firm upgraded Citi to outperform from market perform and raised its price target to $82 per share from $70. Analyst David Konrad noted Citi trades at a 32% discount to 2026 expected earnings compared to other major Wall Street banks. C YTD mountain Citi stock. Citi stock has advanced more than 38% in 2024. Most analysts are bullish on Citi shares, with 16 of the 22 covering it assigning a buy or strong buy rating, LSEG data shows.

Persons: David Konrad Organizations: Citi

☆ Salesforce shares rise after earnings beat on revenue, fourth-quarter guidance
▼ + stars: | 2024-12-03 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Salesforce shares were up 7% on Tuesday after the company reported its fiscal third-quarter earnings, reporting revenue and fiscal fourth-quarter guidance that exceeded analysts' expectations. Salesforce said that it is expecting fiscal fourth-quarter sales to come in between $9.90 billion to $10.10 billion. Salesforce also raised the low end of its revenue guidance for its fiscal 2025 to come between $37.8 billion and $38 billion. The new range puts the mid point for Salesforce's fiscal 2025 revenue guidance at $37.9 billion, ahead of analysts' expectations of $37.86 billion. "We delivered another quarter of exceptional financial performance across revenue, margin, cash flow, and cRPO," Salesforce CEO Marc Benioff said in a statement.

Persons: Salesforce, Marc Benioff, Amy Weaver, Bespoke's Paul Hickey Organizations: LSEG Locations: Salesforce

☆ Wall Street isn’t buying Trump’s deportation threats or Elon Musk’s spending cut claims
▼ + stars: | 2024-12-03 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

But Wall Street doesn’t believe the looming immigration crackdown will live up to Trump’s campaign trail hype. Nearly half of the investors anticipate annual immigration will average between 500,000 and 1 million under Trump, according to Goldman Sachs. The Wall Street bank found that more than 20% of investors expect immigration under Trump will be above the pre-pandemic pace of 1 million per year. “Our forecast is only moderately below the pre-pandemic trend because there are legal and logistical limits to executive action,” Goldman Sachs economists led by Jan Hatzius wrote in the report. Just about 10% of investors expect the Musk-led commission will be able to reduce government spending by more than $400 billion a year, Goldman Sachs found.

Persons: Donald Trump, Goldman Sachs, Trump’s, Trump, ” Goldman Sachs, Jan Hatzius, There’s, Elon Musk’s, Musk, Howard Lutnick, ” Musk, Larry Summers, It’s, ” Glenn Hubbard, George W, Bush, it’s, “ Elon Musk, ”, Marc Benioff Organizations: New, New York CNN, Trump, Republican, Elon, Department of Government, Department of Government Efficiency, Social Security, Columbia University’s Business, Economic, of New, Nasdaq Locations: New York, United States, Madison, New York City, of New York, China, Russia

☆ Why did South Korea's president declare martial law?
▼ + stars: | 2024-12-03 | by ( Ellie Zolfagharifard | Ryan Pickrell | ) www.businessinsider.com time to read: +5 min

South Korea's president, Yoon Suk Yeol, on Tuesday invoked martial law, a stunning move that threw the nation into turmoil. The last time that a South Korean leader declared martial law was in 1979 following the assassination of the president. South Korea's parliament voted unanimously to block the president's decree, declaring the shocking move invalid, but martial law remains in effect. The semi-official South Korean news agency also said that media and publishers fall under the control of the South Korean military. Hours after Yoon declared martial law, live TV showed South Korea's parliament passing a motion requiring the law to be lifted.

Persons: Yoon Suk Yeol, Yoon, Yoon Suk, Kim Jong, Yoon didn't, South Korea Philip Goldberg, Yoon's, Biden, Han Dong, Lee Jae, Yonhap Organizations: South, People Power Party, Democratic Party of Korea, National Assembly, Associated Press, South Korean, State Department, Power Party, Korean, US National Security, KB Financial Group, POSCO Holdings, Wall Street Locations: Korean, South Korea, Korea's, North Korea, Korea, South

☆ Trump agrees to DOJ background checks on administration nominees, appointments
▼ + stars: | 2024-12-03 | by ( Dan Mangan | ) www.cnbc.com time to read: +5 min

Republican presidential nominee and former U.S. President Donald Trump attends a campaign rally in Rocky Mount, North Carolina, U.S., October 30, 2024. President-elect Donald Trump's transition team said Tuesday that it reached an agreement with the Department of Justice that sets the stage for the department to conduct background checks and start the security clearance process for Trump administration nominees and appointees. The Trump transition team said its memorandum of understanding with the DOJ "allows the transition team to submit names for background checks and security clearances." Democratic senators have been especially insistent that background checks are needed for all of Trump's nominees before they can be considered for confirmation by the Senate. "It's really appropriate, though, to have FBI background checks" to help illuminate the allegations against Hegseth, Fetterman said.

Persons: Donald Trump, Donald Trump's, Trump's, Susie Wiles, Trump, Pete Hegseth, Hegseth, Matt Gaetz, Gaetz, Kash Patel, Patel, we're, Steve Bannon, We're, Tulsi Gabbard, Debbie Wasserman Shultz, Gabbard, Robert F, Kennedy Jr, Democratic Sen, John Fetterman, Fetterman, Sen, Roger Wicker, CNBC's Christina Wilkie Organizations: Department of Justice, Trump, Defense Department, Department of Health, Human Services, FBI, DOJ, White, Department, Justice, Yorker, Fox News, Republican, U.S, Trump White House, MSNBC, Senate, HHS, Democratic, NBC News, Senate Armed Services Committee Locations: Rocky Mount, North Carolina, U.S, California, Florida, Hawaii, Pennsylvania

☆ Banks hit credit card users with higher rates in response to regulation that may never arrive
▼ + stars: | 2024-12-03 | by ( Hugh Son | ) www.cnbc.com time to read: +5 min

In this article SYFBFHJPMBARC-GBCCOF Follow your favorite stocks CREATE FREE ACCOUNTA customer uses a credit card to pay for items January 28, 2022 at a retail shop in New York City. Synchrony and Bread raised the annual percentage rates, or APRs, on their portfolios by an average of 3 to 5 percentage points, according to Sakhrani. Some pain, no gainThe CFPB says the credit card industry profits off borrowers with low credit scores by charging them onerous penalties. In March, the agency introduced a rule to cap late fees at $8 per incident, down from an average of about $32. While the rule is currently held up in courts, card users are already dealing with the higher borrowing costs and fees attributed to the regulation.

Persons: Robert Nickelsberg, Banks, Sanjay Sakhrani, Perry Beberman, We've, Beberman, Athleta Organizations: Getty, Verizon, JCPenney, Consumer Financial, CNBC, U.S . Chamber of Commerce, Federal Reserve Bank of New, Citigroup, Barclays, JPMorgan Chase, American Express, Banana Locations: New York City, Federal Reserve Bank of New York, Stamford , Connecticut, Banana Republic

☆ Russia's sky-high interest rates will struggle to fight inflation in the sanctions-stricken economy, top Russian bank CEO says
▼ + stars: | 2024-12-03 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

AdvertisementRussia's interest rate hikes might not be an effective tool to fight inflation, the head of VTB bank said. The chief of VTB, Russia's second-largest bank, delivered the remarks after the Russian central bank raised its benchmark interest rate to 21% in October. High borrowing costs are the central bank's leading plan to curb stubborn price growth, with Russia's annual inflation rate approaching 8.7%. According to Carnegie Politika, it developed a proposal to give the government some oversight of monetary policy, pressuring the central bank to defend its approach. AdvertisementThe bank chief also predicted a slowdown in Russia's GDP growth to 1.9% next year, down from this year's government-estimated 3.9% expansion.

Persons: Russia's, Andrei Kostin, Kostin, Critics, Elvira Nabiullina Organizations: The Bank of, Reuters, Industrialists, Entrepreneurs, Carnegie Politika, Bank of Russia Locations: The Bank of Russia, Russian, Russia, Russian Union

☆ This is the biggest AI winner two years after ChatGPT's debut — and it's not Nvidia
▼ + stars: | 2024-12-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

But the biggest winner has in fact been a little-known Ohio-based cooling technology stock named Vertiv Holdings. Nvidia was the 13th largest company in the U.S. when the AI craze took off, notes Jefferies' sales desk. But while megacap technology stocks have dominated investor attention since the dawn of mass market AI, Jefferies highlighted Vertiv as one of the biggest stock winners, rallying 861% over the past two years. Vertiv makes cooling equipment and infrastructure for power-hungry data centers that are fueling the AI boom. Nvidia is the second best performer, with shares up 722% since ChatGPT's launch.

Persons: Jefferies, CNBC's, Giordano Albertazzi, Jensen, ChatGPT Organizations: Nvidia, Vertiv Holdings, Vertiv, Jensen Huang's, Devices, Broadcom, AMD, Microsoft, Apple, Intel Locations: U.S, Ohio

☆ October job openings data beats expectations while new hires fall monthly
▼ + stars: | 2024-12-03 | by ( Rick Santelli | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOctober job openings data beats expectations while new hires fall monthlyCNBC's Rick Santelli reports on the latest economic data to cross the tape.

Persons: Rick Santelli

☆ S&P 500 futures are little changed after index posts another record close: Live updates
▼ + stars: | 2024-12-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 29, 2024. U.S. stock futures were flat Tuesday night after the S&P 500 posted a new record close. Futures tied to the S&P 500 added just 0.1%. During the regular session, the S&P 500 inched up by 0.05%, while the Nasdaq Composite added 0.4%. The S&P Global U.S. Services Purchasing Managers' Index, factory orders and durable goods are also slated for release.

Persons: Dow, Donald Trump's, George Smith, Dow Jones, Jerome Powell, Locker Organizations: New York Stock Exchange, Futures, Nasdaq, Dow Jones Industrial, Labor, P Global U.S, Services, Federal Reserve Locations: New York City, U.S, New York

Search resuls for: "October"

25 mentions found