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☆ Costco's members are getting younger as millennial and Gen Z shoppers flock to wholesale clubs
▼ + stars: | 2024-09-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Costco is the latest warehouse club to tout its growing popularity with millennial and Gen Z shoppers. Sam's Club has reported similar trends as younger shoppers look to stretch their budgets. AdvertisementOne of the hottest clubs for millennials and Gen Z continues to be the wholesale club. AdvertisementThe news echoes results from Sam's Club, the Walmart-owned club store, where Gen Z membership has grown by 68% in the past two years. Related stories"That generation believes it's cool to save money, and we agree with them," Sam's Club CEO Chris Nicholas told CNBC in June.

Persons: —, Gen Z, Gary Millerchip, Millerchip, GoBankingRates, Dominic Wright, Placer.ai, That's, Hottovy, Chris Nicholas, Nicholas, Corey Tarlowe, Jordan, Ford Pinto, TJ, Tarlowe, you'll, Mercedes, Costco's Kirkland, Club's, Mark Organizations: Costco, Sam's, Service, millennials, Analytical Research, Business, Sam's Club, Walmart, CNBC, Jefferies, Price Club, TJ Maxx

☆ China's massive stimulus is missing a key ingredient: a way to revive the nation's consumers
▼ + stars: | 2024-09-28 | by ( Filip De Mott | ) www.businessinsider.com time to read: +6 min

But the past week's stimulus blitz did not offer fiscal support to China's discouraged consumers. AdvertisementChina's latest stimulus blitz offers everything but one key fix: new incentives to revive consumers. While Tuesday's stimulus package didn't address fiscal support, Chinese officials appear to be getting around to it. Even if China commits to bigger fiscal support in the near term, it could be too late to change things this year, Huang said. For instance, Chinese consumers are staying away from new housing projects even as China has introduced looser mortgage rates and downpayment rules.

Persons: —, Liz Young Thomas, Tianlei Huang, Huang Organizations: Service, JPMorgan, Investment, Peterson Institute for International Economics, Reuters, Communist, Barclays, Bank of America Locations: China, Beijing

☆ 5 signs someone will be a nightmare to divorce, according to a divorce lawyer
▼ + stars: | 2024-09-27 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +6 min

A divorce lawyer said the person you marry is exactly who you'll divorce. "You divorce exactly the person you married," James J. Sexton, a divorce attorney in New York City, told Business Insider. "All you need is one unreasonable person in this equation and you're going to have an ugly divorce," Sexton said, whether it's your partner or the lawyer they hired. AdvertisementFrom his experience as a divorce attorney, Sexton shared some signs a partner will be unpleasant in divorce court. "But just remember when you divorce that person, they're not conflict-avoidant," he added.

Persons: —, James J, Sexton, They're, he's, I'm, He's Organizations: Service, Finance Locations: New York City

☆ Uber just jumped into the Halloween business
▼ + stars: | 2024-09-27 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

Uber Technologies just announced a new partnership with Spirit Halloween, opening up delivery for Halloween costumes, decor and all things spooky to be delivered on-demand via Uber Eats, Postmates and the Uber app. Uber added all Spirit Halloween stores to the delivery apps as of Friday morning, an Uber spokesperson told CNBC. The Halloween shopping season is consistently one of the largest consumer spending events in the United States. Spirit Halloween did not immediately respond to a request for comment. Correction: Spirit Halloween is opening roughly 1.3% more retail locations in North America this year, compared to 2023.

Persons: Jack, Travis Kelce, Taylor Swift, I'm, we'll, Beryl Sanders, Uber Organizations: Technologies, Uber's, CNBC, Michael's, Party, National Retail Federation Locations: Los Angeles , California, Uber's U.S, North America, Party City, United States

But Lupita Nyong’o says DreamWorks’ new animated movie, “The Wild Robot,” will show viewers that you don’t have to pick one over the other to survive. “I think what makes 'The Wild Robot' a compelling story is that we’re witnessing this robot adapt to the natural world,” she said in a video interview with NBC News. Nyong’o voices Roz, a task-oriented robot from a futuristic world that gets stranded on a remote island inhabited by wild animals. Born in Mexico to Kenyan parents, Nyong’o said she connects with Roz because she can relate to being an outsider. But still stay true to myself and hold on to my essence.”And reflecting on her experiences in Mexico, Nyong’o said being a foreigner can also help you grow.

Persons: Lupita Nyong’o, ”, Peter Brown, Roz, Nyong’o, gosling, Kit Connor, Rosie —, ” Nyong’o Organizations: DreamWorks, NBC News, New York Times Locations: Mexico, Kenyan, Spanish

☆ Leaders from the CIA, Dell Technologies, HP, SageCXO, and ezCater share how they keep up with AI development
▼ + stars: | 2024-09-24 | by ( Helen Li | Emma Cosgrove | ) www.businessinsider.com time to read: +14 min

John Roese, the global chief technology officer and chief AI officer of Dell Technologies. In the long term, those two have to come closer together to achieve the speed necessary for an AI cycle. So the quality of what you produce in your organization as a CTO — if you're going to provide models built in-house — better be superstar quality, or no one's using it. Once you understand that those are high level, then you have to ask if you are actually on a path where if you apply AI, you're going to get to an outcome. DeCesare: I've been most inspired to drive the leverage of AI through the company by finding out how people have applied it.

Persons: Emma Cosgrove, La'Naia Jones, John Roese, Elaine Zhou, Faisal Masud, Erin DeCesare, What's, it's, Claude, It's, She's, ChatGPT, Cosgrove, we've, cocreate, that's, We've, Masud, That's, they're, Jones, You've, Everyone's, Aaron, Jensen, Huang, I've Organizations: Business, BI's, CIA, Dell Technologies, HP, Star, Amazon, Nvidia Locations: Spain, Madrid, Silicon

Piper Sandler upgraded shares of Salesforce to overweight, with its new price target implying upside of more than 20%. Helfstein placed a $45 price target on shares, implying about 48% upside from Monday's close. Along with the downgrade, Low reduced the firm's oil price target to $75 from $80 a barrel. — Samantha Subin 6:02 a.m.: Jefferies downgrades Starbucks to underperform Jefferies is bracing for more troubles ahead for shares of Starbucks . SBUX mountain 2024-06-28 SBUX in Q3 — Samantha Subin 5:45 a.m.: Piper Sandler upgrades Salesforce Piper Sandler is turning more bullish on shares of Salesforce .

Persons: Piper Sandler, Lowe's, Oppenheimer, Jason Helfstein, Pinterest, Helfstein, — Samantha Subin, Jefferies, Keith Devas, Samantha Subin, Peter Low, underperform Jefferies, Andy Barish, Barish, they've, Salesforce Piper Sandler, Brent Bracelin, Bracelin, Brian Nagel, Nagel, it's, Fred Imbert Organizations: CNBC, Oppenheimer, Amazon, Google, Kenvue, Atlantic, Exxon Mobil, BP, Starbucks, U.S, Federal Reserve Locations: China, Salesforce, Monday's

☆ A millennial who's lived in 4 countries in 5 years shares which places offer the cheapest childcare, food, and housing
▼ + stars: | 2024-09-23 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Since 2019, Oberman, his wife, and their two cats have lived in five cities across four countries. This story is available exclusively to Business Insider subscribers. "With a creative background, I bring some flexibility to our travels," the 38-year-old told Business Insider via email, adding, "I have options to work no matter where we land." Over the past year, Business Insider has interviewed several people who have moved away from their home countries. The couple found a full-time day care option that charges roughly $400 a month for children less than one year old, according to a document provided to Business Insider.

Persons: —, Chris Oberman, Oberman, he's, Netherlands Chris Oberman Organizations: Service, Business, South Locations: Netherlands, —, Beijing, Shanghai, Erbil, Iraq, Seoul, South Korea, China

☆ Diving in the Titan ‘was never supposed to be safe,’ mission specialist says of the experimental submersible
▼ + stars: | 2024-09-20 | by ( Alaa Elassar | Graham Hurley | ) edition.cnn.com time to read: +6 min

CNN —Four days of hearings on the 2023 implosion of the Titan submersible which killed all five people on board concluded this week with more damning testimony recounting multiple safety incidents over the years. Lahey said he saw the Titan in March 2019 while in the Bahamas and was “not impressed,” and told OceanGate staff members how he felt about it. I saw evidence where they were crimping cables to hold on weights, it just looked amateurish in its execution,” he said. “Anyone that felt safe going to depths in the Titan was deluded or delusional, it was an experimental vessel, it was clear that it was dangerous,” said Hagen. David Lochridge, a former director of marine operations for OceanGate who expressed safety concerns about the ill-fated Titan submersible, said during his testimony earlier this week the Titan tragedy could have been prevented if US safety authorities had investigated his complaints.

Persons: Patrick Lahey, Lahey, “, ”, OceanGate, ” OceanGate, Rush, ” Fred Hagan, Corey Connor, ” Lahey, Fred Hagen, Hagen, Antonella Wilby, Wilby, that’s, ” Steven Ross, Ross, OceanGate . Rush, David Lochridge, ” Lochridge Organizations: CNN, Titan, Triton, Triton Submarines, Stockton Rush, imploding, Marine Technology Society, MTS, OSHA Locations: Bahamas, North Charleston , South Carolina

☆ With rates falling, don’t make this ‘big mistake’ with your cash
▼ + stars: | 2024-09-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

"The Fed rate cuts are likely to support inflows to money market funds over the course of the next year," Antoniewicz said. While retail investors may slow their pace of investment, institutional flows tend to ramp up since yields on money market funds lag the funds rate, she noted. That cash can stay in a money market fund, a high yield saving account or certificates of deposit. The bucket for three to five years has about 70% in fixed income, with a small amount of high yield bonds added that have durations under five years. He'll dip more into high yield, as well as private credit, in the six to 10-year fixed income category.

Persons: haven't, Shelly Antoniewicz, Antoniewicz, Chuck Failla, you'll, Bond, Failla, Marcus, Kathy Jones, It's, Jones Organizations: Federal Reserve, Investment Company Institute, Sovereign Financial Group, Schwab Center, Financial Research, Treasury, nab Locations: Wells

☆ These are the 3 patterns of the ‘chronically single,’ says breakup expert
▼ + stars: | 2024-09-20 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +4 min

The term "chronically single" has gone viral on TikTok with some videos reaching more than 10 million viewers globally. There are two types of single people: single people who are happy being single, and single people who are not happy being single, Amy Chan told CNBC Make It. After experiencing a gut-wrenching breakup in her 20s, Chan set off to change the breakup and dating experience for people everywhere. Today, she works as a relationship and breakup coach, and runs two weekend retreats, called "The Breakup Bootcamp" and "The Dating Bootcamp." They sabotage their relationshipsAnother pattern of the "chronically single" is that they tend to sabotage their relationships, said Chan.

Persons: Amy Chan, you've, Chan, —, They've Organizations: CNBC Locations: TikTok

☆ Former Fed Gov. Dan Tarullo: Fed is pivoting to a more future-oriented approach to monetary policy
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Fed Gov. Dan Tarullo: Fed is pivoting to a more future-oriented approach to monetary policyDaniel Tarullo, Harvard Law School professor and former Federal Reserve Governor, joins 'Squawk Box' to discuss the Fed's interest rate decision, what was behind FOMC's decision to cut 50 basis points, takeaways from Fed Chair Powell's commentary, and more.

Persons: Dan Tarullo, Daniel Tarullo Organizations: Former, Harvard Law School, Federal Reserve Locations: takeaways

☆ Cramer explains what the Fed's rate cuts mean for tech stocks
▼ + stars: | 2024-09-18 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Wednesday discussed the repercussions of the Federal Reserve's interest rate cuts on the technology sector, saying he thinks they hinder tech stocks because the companies don't necessarily stand to benefit from lower rates. "With a double-sized rate cut that everybody already expected, you aren't gonna see a huge run in tech. Unlike companies in the retail or housing sector, large tech companies are largely divorced from the consumer and the labor market, and cater to the enterprise, he added. Consumer-oriented companies may be the ones to own during this cutting cycle, Cramer suggested, even though tech stocks can still be winners with rates coming down. "On days like today, we want the companies that desperately needed a rate cut, because they just got what they wished for," Cramer said.

Persons: CNBC's Jim Cramer, Cramer, Wall Organizations: Fed, Big Tech, Consumer Locations: San Francisco

☆ Voyager 1 survives clogged thruster issue billions of miles away
▼ + stars: | 2024-09-16 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

CNN —Engineers at NASA have successfully fired up a set of thrusters Voyager 1 hasn’t used in decades to solve an issue that could keep the 47-year-old spacecraft from communicating with Earth from billions of miles away. Currently the farthest spacecraft from Earth, Voyager 1 is about 15 billion miles (24 billion kilometers) away. Earlier this year, engineers spotted an issue when the fuel tube inside one of Voyager’s thrusters became clogged. Engineers switched again to the trajectory correction thruster set in 2018 when the second set also appeared clogged. Once the spacecraft has exhausted this thruster set, Voyager 1’s remaining option is the other already clogged set of attitude propulsion thrusters.

Persons: Calla, ”, It’s, Todd Barber, Suzanne Dodd, ” Barber Organizations: CNN — Engineers, NASA, Jet Propulsion Laboratory, JPL, Caltech, Engineers Locations: Pasadena , California

☆ Meet the Enigmatic Man Who Oversees Larry Page's Google Fortune
▼ + stars: | 2024-09-16 | by ( Hugh Langley | ) www.businessinsider.com time to read: +22 min

His success has also helped fuel a boom in family offices, a financial structure pioneered by J.P. Morgan and popularized by the Rockefellers. Today there are thousands of family offices globally, with the total number tripling between 2019 and 2023, according to the data provider Preqin. To protect Page, Osborne has long remained hidden, the man behind the megabillionaire's curtain. AdvertisementThe small staff at Koop, Page's family office in Palo Alto, are fiercely committed to Page's privacy. Through his investment in Way2B1, Page is seeking to make money by monetizing the techniques he uses to make money.

Persons: Thomas, Larry Page, Wayne Osborne, Osborne, Koop, —, Wayne, Jeffrey Epstein, Gmail, Page, he's, Larry, Morgan, Morgan Stanley, hasn't, Justin Sullivan, hawking, Sergey Brin, George Pavlov, Mark Zuckerberg, Jeff Bezos, Melinda Lewison, Natasha Pearl, Aston Pearl, James Estrin, Helen Frankenthaler, Minerva, Joseph E, Brooks, Taylor, Mortimer Zuckerman, Zuckerman, he'd, who'd, Koop's, Ken Goldman, Eric Schmidt, Hugh Langley, Michael Floyd, Floyd, Page's, Lucy Southworth, Southworth, It's, Way2B1, it's, Gilles Martin, Hal Bailey Organizations: QS, Osborne, J.P, Google, Harvard Business School, Princeton Theological Seminary, Presbyterian Church, New York Times, Minerva, U.S . News, Boston Properties, Shell, CIA, Energy Technologies, Oceankind, Forbes, Business, Fiji Locations: New York, Caribbean, St, Palo Alto , California, Wayne, Mississippi, Connecticut, Silicon Valley, U.S, Silicon, Palo Alto, Koop, Nola, margarita, Way2B1, Fijian, superyachts, New Zealand, Fiji

☆ This is what all of your wealthy adult friends did this summer
▼ + stars: | 2024-09-15 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

Adult-only summer camps have been exploding in popularity. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementForget Euro summer — travelers want to return to summer camp. The nostalgic art of sharing bunks and canoeing with new friends is no longer reserved for kids at summer sleepaway camps. Lately, an increasing number of grown-ups have begun flocking to adult-only summer camps, some for as steep as $1,200 a day.

Persons: Social's, — Organizations: Service

☆ More Gen Zers are ditching college, and they want better guidance on how to succeed without it
▼ + stars: | 2024-09-15 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +9 min

Despite not having a high school diploma or college degree, he started multiple successful businesses that allowed him to financially support his family. During her senior year of high school, Wakeham was struggling to decide on her post-graduation route. US Census Bureau data found the enrollment rate of high school graduates at 61.4% in October 2023 was slightly down from 62% in 2022. Indeed, even as some Gen Zers don't think college is the best path for them, recent data has shown that college continues to provide long-lasting benefits when it comes to careers and earnings. Some high schools have shifted to place a greater emphasis on alternative routes since the pandemic.

Persons: LeLaina Wakeham, Wakeham, didn't, Zers, Zach Hyrnowski, Hyrnowski, we've, Hrynowski, that's, Hannah Maruyama, Maruyama, Jared Polis, — she's Organizations: Service, Business, Gallup, Walton Family Foundation, Colorado Gov, Bureau of Labor Statistics, Reinventing Public Education, roundtables Locations: Mexico, New England

☆ Here's why Americans are going back to Chili's
▼ + stars: | 2024-09-14 | by ( Ryan Baker | ) www.cnbc.com time to read: +1 min

"Our marketing team has done a great job of getting back into what we call the zeitgeist or being relevant again," Kevin Hochman, CEO of Chili's parent Brinker International , told CNBC. A viral social media presence and a push toward value-oriented advertising have propelled sales growth every quarter of fiscal 2024. The brand grew rapidly in the early 2000s, but in the decade that followed the Great Recession, Chili's U.S. locations declined and sales growth flattened. It made Chili's fun again," said Joe Wilson, managing partner of a Chili's in East Rutherford, New Jersey. Watch the video to learn more about how Chili's made a comeback.

Persons: Kevin Hochman, David Palmer, Brinker, We've, Joe Wilson, Chili's Organizations: Brinker International, CNBC, Evercore ISI Locations: U.S, East Rutherford , New Jersey

☆ Auto parts and dollar store execs warn that low-income Americans are stretched thin and running on borrowed time
▼ + stars: | 2024-09-14 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

AdvertisementBut Americans are not a monolith, as Jefferies consumer strategist Carey Kaufman pointed out in a note to clients Tuesday. Heading into the autumn, a considerable number of those in the bottom quintile appear to be running on borrowed time. Dollar Tree, which owns Family Dollar, reported similar consumer headwinds during its quarterly earnings this month. "What we noticed was an even tighter core consumer at the very last week of each of the months in Q2," he said. "While that's always a tighter week of the month for our core consumer, it was by far the weakest."

Persons: —, Carey Kaufman, Ted Vasos, Vasos, David Bellinger, Ryan Grimsland, Will Stengel, Ally, Russell Hutchinson, paychecks aren't, that's, Bellinger Organizations: Service, Walmart, Costco, Business, Jefferies, Goldman, Global Retailing, Mizuho, Reuters, Federal Reserve Locations: U.S

☆ Boeing Starliner astronaut: We ‘ran out of time’
▼ + stars: | 2024-09-13 | by ( Jackie Wattles | ) edition.cnn.com time to read: +4 min

We could have gotten to the point, I believe, where we could have returned on Starliner,” he said. During an August 24 news briefing, NASA officials also indicated that Boeing disagreed with some of the space agency’s risk assessments. There was “just a little disagreement (between NASA and Boeing) in terms of the level of risk,” NASA’s Commercial Crew Program manager Steve Stich said. …And when you do things with spacecraft that have never been done before, just like Starliner, you’re going to find some things,” he added. “In this case, we found some things that we just could not get comfortable with putting us back in the Starliner.”

Persons: —, Butch Wilmore, crewmate Suni Williams, ” Wilmore, ”, Steve Stich, …, ” Williams, Starliner’s, “, Williams, Wilmore, “ I’m, CNN’s Kristin Fisher, we’ve Organizations: CNN, NASA, Navy, SpaceX, Boeing Locations: Tennessee, Starliner

☆ Stocks often drop in September — but many investors shouldn’t care
▼ + stars: | 2024-09-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Traders on the New York Stock Exchange floor on Sept. 9, 2024. Spencer Platt | Getty Images News | Getty ImagesSeptember historically hasn't been kind to stock investors. September is the only month during that nearly century-long period in which investors experienced an average loss, according to Morningstar. Trying to time the market is a losing betAlistair Berg | Digitalvision | Getty ImagesInvestors holding their money in stocks for the long-term shouldn't bail, Yoder said. Don't put faith in market maximsSimilarly, investors shouldn't necessarily accept market maxims as truisms, experts said.

Persons: Spencer Platt, Morningstar, Abby Yoder, Yoder, Alistair Berg, Digitalvision, Edward McQuarrie, McQuarrie, couldn't, J.P Morgan Organizations: New York Stock, Getty, Morningstar Direct, Finance, Morgan Private Bank, Investors, Santa Clara University, Fidelity Investments, Federal Reserve, Investor, Mutual Locations: U.S, Wells, New York City, New York

☆ Harris or Trump: Does it matter for China who wins the election?
▼ + stars: | 2024-09-12 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

Casanova's view is shared by other experts who have said that both the Republican and the Democratic presidential nominees — Donald Trump and Kamala Harris — will remain tough on China. U.S. trade ties with China will remain tense no matter who wins the election in November, according to Carlos Casanova, senior economist at Swiss private bank UBP. Stronger tariffs by Harris cannot be ruled out either, given Biden not only retained Trump's tariffs, he piled on more. During the debate, Harris did not give specifics on her China policy, but said that "a policy about China should be in making sure the United States of America wins the competition for the 21st century." So it doesn't matter who wins the election," Casanova told CNBC's "Squawk Box Asia."

Persons: Donald Trump, Kamala Harris —, Carlos Casanova, Trump, Harris, Eswar Prasad, Biden, Casanova, CNBC's, Janet Yellen, Yellen, Marko Papic, it's Organizations: Republican, Democratic, CNBC, U.S, Cornell University, America, BCA Research Locations: Yantai, China, China . U.S, Swiss, U.S, United States, Europe, Beijing

☆ I quit BlackRock after slogging my way to VP in 7 years. I have no regrets.
▼ + stars: | 2024-09-12 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

I remembered meeting up with friends who didn't work in the industry. AdvertisementLeaving BlackRock for the startup worldI took an 80% pay cut when I quit my job at BlackRock to join Style Theory, a fashion rental startup. Ong took an 80% pay cut when she left BlackRock for Style Theory. One thing that Style Theory offered me was the huge amount of autonomy I had as an employee. After leaving Style Theory, I moved to Singapore just a few months before the COVID-19 pandemic hit.

Persons: —, Jennifer Ong, BlackRock, Ong, Jennifer, I'd Organizations: Service, BlackRock, Business Locations: Singapore

Microsoft told employees on Thursday that it has hired Carolina Dybeck Happe as its executive vice president and chief operations officer, reporting to CEO Satya Nadella. Dybeck Happe comes from GE, where she was senior vice president and chief financial officer from 2020 until September 2023. She will join Microsoft's senior leadership team alongside finance chief Amy Hood, cloud and AI engineering leader Scott Guthrie and other executives. GE CEO Larry Culp called Dybeck Happe "a high-impact executive" when GE announced in 2019 that it had picked Dybeck Happe to replace Jamie Miller as chief financial officer. Before that, she spent almost 17 years at Swedish lock company Assa Abloy, where she became chief financial officer and deputy CEO.

Persons: Carolina Dybeck, Satya Nadella, Dybeck Happe, Microsoft's, Amy Hood, Scott Guthrie, Nadella, Dybeck, Rajesh Jha, Larry Culp, Jamie Miller, Kevin Turner, Gene Munster Organizations: Microsoft, GE, Microsoft Digital IT, Microsoft Business Operations, GE Aerospace, GE Vernova, New York Stock Exchange, Maersk, Walmart Locations: Carolina, Swedish

☆ $11 billion ExodusPoint just made a concession on fees. It could be the start of a massive change for hedge funds' biggest names.
▼ + stars: | 2024-09-11 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Multi-strategy hedge funds, led by Citadel, Millennium, and Point72, had churned out returns in turbulent markets with limited volatility. In that environment, even the multi-strategy funds not among the sector's top tier were able to demand long lock-ups and high fees. Bobby Jain's new fund launched with $5.3 billion in July after there were whispers of him raising $10 billion six months prior.

Persons: —, Michael Gelband, Goldman Sachs, Bobby Jain's, Doug Haynes, Justin Young Organizations: Service, Citadel, Tiger, Business, Millennium, Street, FT, Bloomberg, of Texas, Treasury, Multilateral Endowment Management Company, Oklahoma State Foundation, LinkedIn

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