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☆ Biden's new student loan relief plan is on pause. Here's what borrowers need to know
▼ + stars: | 2024-06-26 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

Cody Gude was counting the seconds until July when his monthly student loan payment was scheduled to drop to $100 from $200. But then he saw headlines on Monday that major parts of the Saving on a Valuable Education, or SAVE, plan were on pause. The U.S. Department of Justice is expected to appeal the preliminary injunctions, but for now, millions of student loan borrowers are disappointed and angry that they won't see the relief they expected in just a matter of days. Gude's student loan servicer, Nelnet, already updated his monthly bill to reflect the lower amount. (Under SAVE, many borrowers pay just 5% of their discretionary income toward their debt each month instead of the previous 10% requirement, and millions of borrowers have a $0 monthly payment.)

Persons: Joe Biden, Education Secretary Miguel Cardona, Cody Gude, servicer, Gude Organizations: Education Secretary, White House, Valuable Education, Biden, U.S . Department of Justice, Finance, Social Security Workers Locations: Washington , DC, Tampa , Florida, Kansas, Missouri

☆ Why Americans Hate Their Jobs; Fake Email Jobs, Meaningless Work
▼ + stars: | 2024-06-26 | by ( Molly Lipson | ) www.businessinsider.com time to read: +11 min

The American Psychological Association highlights findings that people who find their jobs meaningful are more engaged, show up to work more, and are healthier. Many in those industries have begun to refer to their work as "fake email jobs" — office jobs that largely involve sending emails without producing anything. Other people have managed to juggle multiple full-time remote jobs thanks to the limited amount of work each job actually required. Working a useless job is a "profound psychological violence," Graeber wrote, one that removes any sense of dignity and fosters "deep rage and resentment." Short of everyone quitting to become their own CEO, employers will need to figure out how to make work feel meaningful for their staff.

Persons: it's, Zers, Pew, Gen Zers, I've, Graeber, David Graeber, Simon Walo, —, Walo, Brendan Burchell, Burchell, Clay Routledge, Routledge Organizations: Pew Research, American Psychological Association, University of Zurich, University of Cambridge Locations: Italy, Spain, Sweden

☆ Joshua Kushner's Thrive Capital makes a further push into entertainment, backing A24, the studio behind Euphoria and Uncut Gems
▼ + stars: | 2024-06-26 | by ( Ben Bergman | Lucia Moses | ) www.businessinsider.com time to read: +1 min

Thrive Capital backs A24, adding Hollywood to its diverse investment portfolio. A24 is famous for hits like "Everything Everywhere All At Once" and HBO's "Euphoria." Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: Joshua Kushner, —, Slack, Hims, Bird Organizations: Hollywood, Service, Spotify, Plaid, Business Locations: New York

But, not all AI startups are created equal. AdvertisementBusiness Insider surveyed nine VCs who invest in AI startups at firms like Bain Capital Ventures, Flybridge, and Sapphire Ventures. Startups building AI's "picks and shovels" are a better bet than yet another LLMStep aside, OpenAI and Anthropic. In contrast, unstructured data encompasses various formats such as text documents, images, audio files, emails, social media posts, and videos. Some AI investors say they're shying away from point solutions—think online payment processing or project management—in favor of full-stack solutions.

Persons: —, Harvey, Navin Chaddha, Chip Hazard, they're, Kahini Shah, there's, Rak Garg, Garg, Shah, Lauri Moore, Moore, Chaddha, Capital's Moore, she's Organizations: Service, Accel, Business, Bain Capital Ventures, Flybridge, Sapphire Ventures, Google, Meta, Mayfield Fund, Flybridge Capital Partners, Obvious, Investors, Obvious Ventures, Foundation, Dig Ventures Locations: Mayfield, Hazard, Flybridge

☆ Retirement 'super savers' tend to have the biggest 401(k) balances. Here's what they do differently
▼ + stars: | 2024-06-25 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

A retirement savings crisis is looming for people who have 401(k) plans and other retirement balances woefully short of what they will need to live on. But some workers — called "super savers" — are managing to successfully grow their retirement nest eggs. Super savers are workers who are putting away more than 10% of their salaries toward their retirement plans, according to new research from nonprofit Transamerica Institute and its division Transamerica Center for Retirement Studies. The rest, 44%, have reached super saver status — with 15% of workers putting 11% to 15% of their annual pay toward retirement, Transamerica said. Notably, the youngest cohort — Generation Z — has the most super savers, with 53%, followed by millennials and baby boomers, each with 44%, and Generation X, with 40%.

Persons: —, Transamerica, millennials, Ted Jenkin, Jenkin Organizations: Transamerica Institute, Transamerica, Retirement Studies, CNBC, Finance, Social Security Workers Locations: Atlanta

☆ China's premier defends national competitiveness as trade tensions simmer
▼ + stars: | 2024-06-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

China's Premier Li Qiang speaks during the 54th annual meeting of the World Economic Forum in Davos, Switzerland, January 16, 2024. Denis Balibouse | ReutersDALIAN, China — Chinese Premier Li Qiang on Tuesday defended the country's technological development while criticizing efforts to restrict global cooperation. His remarks, at the opening of the World Economic Forum's "Summer Davos" meeting in Dalian, China, came amid rising tensions with the EU over imports of Chinese electric cars. Andrzej Duda, president of Poland, and Pham Minh Chinh, prime minister of Vietnam, gave remarks after Li. The Chinese premier held state-level meetings in China with the two leaders ahead of the "Summer Davos."

Persons: Li Qiang, Denis Balibouse, Li, Andrzej Duda, Pham Minh Chinh, Duda Organizations: Economic, Reuters, EU Locations: Davos, Switzerland, Reuters DALIAN, China, Dalian, U.S, Poland, Vietnam, Beijing, Washington

☆ The fertility crisis is here and it will permanently alter the economy
▼ + stars: | 2024-06-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

In the 1960s, there were six people of working age for every retired person, according to the World Economic Forum. “What you’re seeing is increased spending on programs like Medicare and Social Security as the baby boomers are aging into those programs. And then of course, fewer workers relative to the number of people who are receiving Social Security and Medicare benefits,” said Dahl. Social Security payments still provide about 90% of income for more than a quarter of older adults in the United States, according to Social Security Agency surveys. But without intervention, the Social Security trust fund will be depleted by the mid-2030s, meaning that only a portion of retirees’ expected benefits will be paid out.

Persons: it’s, Louis, Simona Paravani, ”, Elon Musk, Kimberly, Clark, Mark Schneider, he’s, Emmanuel Macron, Donald Trump, Molly Dahl, Dahl, Eric Schmidt, ” Schmidt, Goldman Sachs, Stefano Scarpetta, Li Qiang, Juliana Liu, Joyce Jiang, Li, China’s, Xi Jinping, Biden, Max Prosecutors, haven’t, Max, Read Organizations: London CNN, Organisation for Economic Co, Development, Economic, Federal Reserve Bank of St, BlackRock, Disease Control, Congressional Budget Office, CBO, Social Security, Social, Social Security Agency, Google, Summit, Federal Reserve Bank of Richmond, OECD, ” Companies, West Chinese, CNN, EV, Prosecutors, Boeing, Max, US Justice Department, Alaska Air, Justice Department, Federal Aviation Administration Locations: Chad, Niger, Somalia, Samoa, Tonga, Tajikistan, United States, London, China, Beijing, Dalian, Canada, Beijing’s “

☆ College dropouts raise $120 million to take on Nvidia's AI chips
▼ + stars: | 2024-06-25 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

A 2-year-old startup founded by Harvard dropouts has just raised $120 million in venture funding to try and build a competitive chip and take on Nvidia in artificial intelligence. Co-founder and CEO Gavin Uberti said that as AI develops, most of the technology's power-hungry computing requirements will be filled by customized, hard-wired chips called ASICs. "We're making the biggest bet in AI," Uberti said in an interview. Other chip startups taking on Nvidia include Cerebras Systems, which is building a physically larger AI chip, and Tenstorrent, which is using a trendy technology called RISC-V to build AI chips. Venture capitalists invested $6 billion in AI semiconductor companies in 2023, up slightly from $5.7 billion in 2022, according to data from PitchBook.

Persons: Gavin Uberti, Uberti, we'll, Peter Thiel, Stanley Druckenmiller, Kyle Vogt, we've, Robert Wachen Organizations: Nvidia, Harvard, Apple, Venture Partners, Cerebras Systems, Semiconductors, Taiwan Semiconductor Manufacturing Co, Venture Locations: Cupertino , California, PitchBook

Container ships are berthed at PSA's Pasir Panjang Terminal in Singapore July 15, 2019. Global port congestion has reached an 18-month high, with 60% of ships waiting at anchor located in Asia, maritime data firm Linerlytica said this month. SEVERE CONGESTIONSingapore, the world's second-largest container port, has seen particularly severe congestion in recent weeks. "The peak season, which traditionally starts in June, was advanced by a full month, causing ocean freight rates to soar." Container freight prices from Asia to the U.S. and Europe have tripled since early 2024.

Persons: Edgar Su, Linerlytica, Yemen's, Jayendu Krishna, Drewry, PortCast, Niki Frank, Dimerco, Jonathan Gold, Judah Levine, Jared Bernstein, Gene Seroka, Peter Sand, Jeslyn Lerh, Lisa Baertlein, Lisa Barrington, Miyoung Kim, Kim Coghill Organizations: REUTERS, Retailers, Ships, Drewry Maritime Advisors, Singapore, Singapore's, Port Authority, Drewry, Keppel, Tuas, Maersk, DHL Global, Asia, Descartes, National Retail Federation, Container, U.S ., of Economic Advisers, U.S, DHL, Thomson Locations: Pasir Panjang, Singapore, SEOUL, SINGAPORE, Asia, Africa, Malaysia's Port Klang, Tanjung Pelepas, Shanghai, Qingdao, China, South Korea, U.S, Europe, U.S . East Coast, U.S . West, of Los Angeles, Los Angeles, Seoul

☆ Li Qiang warns against ‘vicious cycle’ of China decoupling from the West
▼ + stars: | 2024-06-25 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Hong Kong CNN —Chinese Premier Li Qiang has warned against a “vicious cycle” of economic decoupling from the West, as Beijing struggles to contain rising global pushback over soaring electric vehicle (EV) exports. This will “drag countries … into a vicious cycle of scrambling for a cake that becomes smaller and smaller,” Li added. Last month, the Biden administration quadrupled tariffs on EV imports from China, from 25% to 100%, aiming to protect American jobs and manufacturing. Chinese EV sales to the United States are tiny.

Persons: Li Qiang, Li, ”, China’s, Xi Jinping, Biden Organizations: Hong Kong CNN, EV, European Union, Reuters, EU, Global Locations: China, Hong Kong, Beijing, Dalian, Canada, Beijing’s “, United States, European

☆ Tech giants bet next-generation optical networks will reduce AI's climate impact, aid 6G transition
▼ + stars: | 2024-06-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

IOWN Global Forum is a global group aiming to develop technical standards for all-photonics networks. "Mobile traffic is growing more and more every day," Katsuhiko Kawazoe, chair of the IOWN Global Forum, told CNBC via email. "Data centers are becoming bigger and bigger, and hyperscale data centers are a struggle for societies' carbon reductions," Kawashima said. "To deploy antennas, we need optical fiber to connect antennas to radio data centers," Kawashima explained. For now, the IOWN Global Forum is working toward achieving its main goals by 2030.

Persons: —, Kawazoe, Gonzalo Camarillo, OpenAI's, Kawashima, Banks, NTT's Kawashima Organizations: Getty, Microsoft, Google, Intel, Sony, IOWN, photonics, NTT, Ericsson, Nokia, SK Hynix, CNBC, IOWN Global, NTT Corporation, Mitsubishi, Netflix, Amazon, 5G

☆ He's sworn by the same résumé format for the past 9 years. In 2022, it landed him a $350,000 job at Google — check it out.
▼ + stars: | 2024-06-24 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

In 2018, he joined Visa as a data platform product manager. Over the next five years, Lin worked at PayPal and then Google, where he is a senior product manager. Related storiesThis is the résumé that landed Lin his roles at Meta, Visa, and PayPal, and, in 2022, a $350,000 annual pay package at Google. "Tier one is about 20 to 30 different positions that I really, really want," Lin said. Lin is now a senior product manager at Google's San Francisco office.

Persons: —, Yun, Yu Lin, Lin, Yung, I'm, it's, résumé Organizations: Service, Yahoo, Business, University of Southern, Meta, Visa, PayPal, Google, Surplus Technology, Google's San Locations: Taiwan, University of Southern California, Google's San Francisco

☆ This résumé got a product manager a $350,000 job at Google and his past roles at Meta, Visa, and PayPal
▼ + stars: | 2024-06-24 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

He shifted to work as a software engineer at Yahoo in 2011, where he first saw a product manager in action and was inspired to take up the role down the line. In 2018, he joined Visa as a data platform product manager. Over the next five years, Lin worked at PayPal and then Google, where he is a senior product manager. Related storiesThis is the résumé that landed Lin his roles at Meta, Visa, and PayPal, and, in 2022, a $350,000 annual pay package at Google. Lin is now a senior product manager at Google's San Francisco office.

☆ The No. 1 'counterintuitive' piece of advice for job seekers in today's market, says career coach
▼ + stars: | 2024-06-23 | by ( Jennifer Liu | ) www.cnbc.com time to read: +2 min

Some of the job seekers she works with have been looking for new work for over a year, if not longer, she tells CNBC Make It: "The job market is ridiculous." By the numbers, the U.S. labor market is strong on paper with low unemployment and high job openings. To those on the job market, Doe has one big piece of advice: It "might be a little counterintuitive, but it's actually to step away from your computer." "You don't have to spend money" to have professionals review your resume, help you practice your networking and interviewing skills, or offer other career advice, Doe says. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.

Persons: Brianna Doe, Doe, it's, who's Organizations: CNBC Locations: U.S

☆ Don't skip that happy hour: Why losing work friendships is bad for everyone
▼ + stars: | 2024-06-23 | by ( Madison Hoff | Ayelet Sheffey | ) www.businessinsider.com time to read: +8 min

With the rise of remote and hybrid work following the pandemic, work relationships have forever changed. AdvertisementHow workplace connections have changedWith remote work, developing a work-spouse relationship is much more difficult due to limited in-person interactions. Still, Pillemer said, relationships aren't all lost with remote work. AdvertisementWigert noted that work best friends, work spouses, and similarly strong work connections can lead to being "more engaged, productive, and committed to their organization." What is your experience with work friendships, work spouses, and loneliness at work?

Persons: Erin Mantz, Mantz, Zeno, skews, they'll, Ben Wigert, Wigert, Vicki Salemi, Salemi, Julianna Pillemer, Pillemer, Joseph Fuller, Fuller, X, I'm Organizations: Service, Business, New York University, Harvard's Business School, Work Initiative

☆ This technology could transform one of the world’s dirtiest industries. Experts say it’s way off pace
▼ + stars: | 2024-06-23 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +11 min

This complex will be world’s first large-scale “green steel” project, according to H2 Green Steel, the Swedish company behind the multi-billion-dollar mill. Dhiraj Singh/Bloomberg/Getty ImagesWhile projects like H2 Green Steel show momentum is growing, experts say the pace is far too slow. Northern Sweden is also home to the HYBRIT green steel pilot plant — which is one step ahead. US Secretary of State Antony Blinken speaks during a visit to Hybrit Steel Plant in Lulea, Sweden, on May 30, 2023. But there’s also the challenge of producing large amounts of green hydrogen, which will require huge amounts of renewable energy.

Persons: Peter Boer, Dhiraj Singh, ”, Mohamed Atouife, Daniel Acker, ” Atouife, HYBRIT, Biden, Antony Blinken, Jonas Ekstromer, Martin Pei, SSAB, ” Pei, Chathurika, Caitlin Swalec, Jonathan Nackstrand, Pei, there’s, –, Philipp Verpoort, “ It’s, Princeton’s, Swalec, Chris Greig, ” Greig, RMI’s Gamage Organizations: CNN, Green Steel, Tata Steel, Bloomberg, Getty, Rourkela Steel, Princeton University, Volvo, Hybrit Steel, TT, Agency, AFP, “, Mountain Institute, Global Energy Monitor, Potsdam Institute, Climate Impact, Potsdam, Princeton University’s Andlinger Center for Energy, Workers, Jiangsu Shagang, Co, European Union Locations: Sweden, Boden, Swedish, Wijk aan, Netherlands, Odisha, India, Indiana, Portage , Indiana, Northern Sweden, Cleveland, Ohio, Middletown, Mississippi, Lulea, Luleå, AFP, China, Europe, Japan, Jiangsu, Huai'an, Jiangsu Province, European

☆ Worried about a frothy market? Here's how to start building a long-term stake anyways
▼ + stars: | 2024-06-23 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Here's our Club Mailbag email investingclubmailbag@cnbc.com — so you send your questions directly to Jim Cramer and his team of analysts. I realize since joining the Club I need to buy the S & P 500 to provide proper diversification. Kelly (Toronto) Several factors need to be considered to chart an appropriate course of action to get money to work. In this kind of situation, the old investment adage by Ken Fisher is applicable: "Time in the market beats timing the market." As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jim, Jeff, Kelly, Ken Fisher, It's, Vanguard's, it's, Cash, Jim Cramer's, Brendan McDermid Organizations: CNBC, Club, Vanguard's, Jim Cramer's Charitable, Traders, New York Stock Exchange Locations: Toronto, New York City, U.S

☆ A millennial who made 6 figures working 2 remote jobs says it could help him retire by age 50 — but that overemployment wasn't worth the stress
▼ + stars: | 2024-06-23 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

But by the time Adrian's contract for his second job came to an end in March, a big part of him was relieved, he said. While some companies may be OK with their workers having a second job, doing so without approval could have negative repercussions. AdvertisementAdrian said that before taking on a second job, one should be "very comfortable" with one's main role. While he wouldn't rule out pursuing a second job again someday, he said the workload would have to be quite low. AdvertisementAre you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?

Persons: —, Adrian, he'll, messaged, you'll, maxing, Roth, It's, hasn't, he's Organizations: Service, Business, LinkedIn, Roth IRA Locations: California

☆ It's wild how many job listings might be fake
▼ + stars: | 2024-06-23 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

Companies often post bogus roles to ease employees' concerns about being overworked and signal that the organization is growing, said Resume Builder, which recently found three in 10 employers have fake job listings. The reasons for listing fake jobs included signaling that the employer was willing to hire from outside the organization. Haller said employers that dangle fake listings risk hurting themselves by undermining their reputations. AdvertisementFake listings can lead to real jobsAbout seven in 10 of the fake jobs were on a company website or LinkedIn, according to the survey. And, yet, despite all the shenanigans, many fake listings often lead to real interviews — and even employment.

Persons: —, Stacie Haller, it's, Haller, there's, you'll, That's Organizations: Service, Business

☆ How Chinese EV makers are slowly taking over the world
▼ + stars: | 2024-06-22 | by ( Tom Carter | ) www.businessinsider.com time to read: +14 min

Chinese carmakers accounted for 88% of the EV market in Brazil and 70% in Thailand in Q1, according to ABI Research figures. The EV markets in many of these countries are small now, but they're growing rapidly. This is because Chinese automakers are known for their ability to build electric cars for less than their foreign competitors. Australian Senator and shadow cyber-security minister James Paterson said earlier this year that Chinese EVs pose a growing cybersecurity risk. "India is still a little wary of the Chinese market," said Dylan Khoo, an analyst at ABI Research.

Persons: —, BYD, Joe Biden, Bill Russo, Susan Walsh Sam Fiorani, Luiz Inácio Lula da Silva, São Paulo, Luiz Inacio Lula da Silva, Marcel Martin, Katherine Tai, Elon Musk, SONNY TUMBELAKA, They're, Automobility, Tesla, John Keeble, James Paterson, Fiorani, Indranil Aditya, Dylan Khoo, Warren Buffett, Xpeng, William Li, HECTOR RETAMAL, America's, Russo, WuYuan Organizations: Service, Detroit, EV, Business, Research, Ford, Toyota, Volkswagen, EU, AP, AutoForecast Solutions, Brazilian Electric Vehicle Association, Great Wall Motors, Anadolu Agency, Getty, International Council, Clean Transportation, Chery, Total, China Passenger Car Association, Reuters, Honda, Mitsubishi, International Energy Agency, Federal, of Automotive Industries, SAIC, AutoForecast, BYD, SAIC Motors, India's, ABI Research, Union Locations: Camaçari, Brazilian, Bahia, Brazil, Mexico, Southeast Asia, Europe, Thailand, China, Shanghai, EU, São, Johannesburg, South Africa, Southeast Asia Southeast Asia, Malaysia, Vietnam, Indonesia, Indonesia's West Java, Philippines, Australia, Hangzhou, Queensland, India India, India, Europe Europe, Hungary, France, Spain, Portugal, South Korea

☆ ‘My vision went dark’: CNN reporter experiences 6G-force before hitching a fighter jet ride
▼ + stars: | 2024-06-22 | by ( Brad Lendon | ) edition.cnn.com time to read: +11 min

Four South Korean F-4 fighter jets fly in formation on May 8, 2024, during a commemorative final flight of the aircraft. That test would come a few weeks before the F-4 flight at a South Korean Air Force medical facility south of Seoul. Lendon in the back seat of a South Korean F-4 Phantom flying over southern South Korea on May 8, 2024. South Korean Air Force F-4s flying in formation with two KF-21 fighter jet prototypes over southern South Korea on May 8, 2024. A total of 120 are expected to be delivered to the South Korean Air Force by 2030, and the jet is expected to be exportable.

Persons: Douglas, Lendon, –, didn’t, I’m, It’s, Neil Armstrong, John Glenn, I’d, don’t, South Korea Brad Lendon, Daegu –, vomited, “, ”, wouldn’t Organizations: South Korea CNN —, South Korean Air Force, US Navy, CNN, US Navy Blue Angels, US Air Force Thunderbirds, hometown Cleveland National Air, South, McDonnell, US, Korean, Wright, Daegu Air Base, Daegu, General, KF, Korean Air Force, South Korean Air Force Korea Aerospace Industries, Phantoms, Boeing, South Korean Airforce, Suwon Air Base Locations: Suwon, South Korea, Midway, Japan, Vietnam, North Korea, Seoul, Greece, Turkey, Iran, Daegu, Ohio, Korean, South Korean

☆ Going After the Middleman
▼ + stars: | 2024-06-22 | by ( Lauren Hirsch | Sarah Kessler | ) www.nytimes.com time to read: +1 min

They’ve zeroed in on what may sound like a nerdy legal theory, but one that could have huge implications: the tyranny of the intermediary, middleman companies that abuse their role by squeezing out competition or creating artificially expensive moats. The Justice Department has already made one high-profile strike along these lines, suing to break up Ticketmaster and Live Nation. It is reportedly investigating at least two others. One is RealPage, a property management company that uses artificial intelligence to suggest prices and has already been sued by renters accusing it of facilitating a new type of collusion. The second is UnitedHealth Group, the health care conglomerate that owns a cobweb of businesses that include an insurer and another unit that employs about 10,000 physicians in the United States.

Persons: Lina Khan, Jonathan Kanter, They’ve Organizations: Biden, Federal Trade Commission, Ticketmaster, UnitedHealth Locations: United States

☆ How the vodka soda became 'gay water'
▼ + stars: | 2024-06-22 | by ( Alex Harring | ) www.cnbc.com time to read: +11 min

The combination of soda water and vodka has long been a fixture of boozy LGBTQ+ life, particularly among gay men. One of those came from Houston-based lawyer Jeff Watters, who called the vodka soda the "gay water" of the nighttime in a post on X. Retail is also central to the business for Gay Water, a startup offering canned cocktail variations of vodka soda. The former's vodka soda citrus is 100 calories per can, while Gay Water contains 80. The Gay Bar Shop, a specialty retailer, sells an 11-ounce, $49 candle that smells like a vodka soda with a lime garnish.

Persons: Emily Rabbideau, Justin Ruka, Orlando, Ruka, seltzer, Lucas Hilderbrand, Justin, Jeff Watters, Coke, Watters, Hilderbrand, Mary Holt, Holt, Eric Einstein, Einstein, Brendan Oudekerk, bartenders, Rose Kennedy, Tom Campbell, Campbell, James Delos Reyes, that's, Spencer Hoddeson, Hoddeson, Bud Light, Kylie Jenner's, Boston Beer, Victor Tran, Tran Organizations: Love, Alaska Airlines, CNBC, University of California, San Francisco, Gay, New York City, Washington , D.C, New, Boston Beer, Boston, Gay Water Locations: San Francisco, Irvine, Houston, bartenders, Lawrence , Kansas, New York, Washington ,, West Hollywood, influencers, New York City, Gopuff, Virginia

☆ Starboard loses initial legal fight against Autodesk, but the battle may just be beginning
▼ + stars: | 2024-06-22 | by ( Kenneth Squire | ) www.cnbc.com time to read: +10 min

Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. With 90%+ gross margins and 35% operating margins, Autodesk is a leader in AEC software. Further, its operating margins are not much worse than those of its peers at first blush. However, Starboard correctly does not judge the company's operating margins on the mean of its peer set, but by the potential embodied in its gross margins and market position. He no longer serves on the board of Autodesk, but he could certainly be an informal advisor to Starboard – or a cautionary tale for Autodesk.

Persons: Max, Russell, Deborah Clifford, Clifford, bode, Sachem, Andrew Anagnost, designees, Rick Hill, Hill, designee, Ken Squire Organizations: Autodesk, Engineering, Manufacturing, Media, Entertainment, Manufacturing Solutions, Wonder, Delaware Chancery, —, U.S . Securities, Exchange Commission, Delaware Court, Marvell Technology, Symantec, 13D Locations: Delaware, Autodesk's

☆ Consumer spending, inflation, and housing are 3 things to watch in the market next week
▼ + stars: | 2024-06-22 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Nvidia had some strong moves in the days after its 10-for-1 stock split traded in the market on June 10. Tuesday brought weaker-than-expected May retail sales , which the stock market took in stride, perhaps on the view that softness helps the view that the Federal Reserve will indeed cut interest rates later this year. Ultimately, the economic readings this past week signal that while U.S. growth remains resilient, things are slowing, which is an ideal setup for stock market bulls. The Fed's favorite inflation gauge and the tail end of earning season will be drivers of the market in the week ahead. ET: New Home Sales Before the bell: General Mills (GIS), Paychex (PAYX), UniFirst (UNF) After the bell: Micron (MU), BlackBerry (BB), Levi Strauss (LEVI) Thursday, June 27 8:30 a.m.

Persons: we're, Levi Strauss, Mills, LEVI, McCormick, Jim Cramer's, Jim Cramer, Jim, Emily Elconin Organizations: Nasdaq, Dow, Nvidia, Microsoft, Apple, Broadcom, Energy, West Texas, Utilities, Federal, Juneteenth, FedEx, Nike, Micron, UniFirst, UNF, BlackBerry, Walgreens Boots Alliance, Outdoor Brands, Jim Cramer's Charitable, CNBC, Shoppers, Getty Locations: U.S, Oaks, Novi , Michigan

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