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☆ China tightens media control with tiny stakes in two Alibaba units
▼ + stars: | 2023-01-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

Sopa Images | Lightrocket | Getty ImagesBEIJING — State-backed entities have taken tiny stakes in parts of two Alibaba subsidiaries that oversee a video platform and web browser. The state-backed stakes reflect a progression of government directives over the last decade to increase control of media in China. "So far most of the stakes announced (including in other Chinese companies) seem to be highly concentrated on media companies and media subsidiaries." watch nowSince 2020, business records show state-backed entities have taken 1% stakes in popular social media or short-video apps Weibo , ByteDance's Douyin and Kuaishou . A provincial state media group completed a 1% investment in September, leaving Alibaba's media arm with 99% ownership.

☆ Palantir CEO tells tech workers who don't like the company's military deals, ‘Don’t work here’
▼ + stars: | 2023-01-18 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Alex Karp, CEO of Palantir, on day two of the World Economic Forum in Davos, Switzerland. Palantir co-founder and CEO Alex Karp knows many tech workers in Silicon Valley have misgivings about his data mining firm's dealings with intelligence agencies and the military. Tech workers have been more vocal in recent years in opposing their employers' contracts with the military. Two-thirds of people in Silicon Valley don't want to work for companies like Palantir, Karp said in Davos. "We don't like people who are coming in and saying, we want to kill terrorists and just without data protection," Karp said.

☆ Here's why Carlyle Group's Rubenstein says now is a good time to invest
▼ + stars: | 2023-01-18 | by ( Jesse Pound | ) www.cnbc.com time to read: +1 min

The worst of the bear market appears to be over and investors should look at getting back into stocks, David Rubenstein of the Carlyle Group said Wednesday. "The best time to invest is when there's some uncertainty or when the economy seems to be a little bit nervous in terms of where it's going," Rubenstein said. "It's a good time to invest now, because I think the market is not going to see another 20% drop in public prices," he added. "I think that is probably past us, and I think we're probably coming back to the point where people are going to feel comfortable investing." Stocks have risen to start the year, with the tech-heavy Nasdaq Composite up 6% in 2023.

☆ Watch CNBC's full interview with billionaire investor David Rubenstein
▼ + stars: | 2023-01-18 | 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 EmailWatch CNBC's full interview with billionaire investor David RubensteinBillionaire investor and philanthropist David Rubenstein, Carlyle Group's co-founder and co-chairman, joins CNBC's 'Squawk Box' to discuss if the United States is at an inflection point for the federal funds rate and more.

☆ Jerome Powell has done a pretty good job, says billionaire investor David Rubenstein
▼ + stars: | 2023-01-18 | 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 EmailJerome Powell has done a pretty good job, says billionaire investor David RubensteinBillionaire investor and philanthropist David Rubenstein, Carlyle Group's co-founder and co-chairman, joins CNBC's 'Squawk Box' to discuss if the United States is at an inflection point for the federal funds rate and more.

☆ How Anti-Abortion Activists Bought Access to the Supreme Court
▼ + stars: | 2023-01-07 | by ( Katherine Long | Jack Newsham | ) www.businessinsider.com time to read: +29 min

In exchange for as little as a few thousand dollars in contributions to the nonprofit, these people received easy access to events where Supreme Court justices would be. Supreme Court Historical society trustee Jay Sekulow, center, represented President Trump during the latter's impeachment trial in 2020. Anti-abortion advocates cheer in front of the Supreme Court after the decision in Burwell v. Hobby Lobby Stores was announced in 2014. Alito did not respond to a request for comment on his involvement in the Supreme Court Historical Society. Supreme Court justices, though, aren't even required to stay within those weak guardrails because no code of ethics governs justices' behavior.

☆ David Rubenstein views Warren Buffett as the ultimate investor. The Carlyle billionaire outlines the 12 traits and habits that are critical to Buffett's success.
▼ + stars: | 2022-12-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

David Rubenstein calls Warren Buffett "the ultimate master of the investor craft" in his new book. He dedicated the compilation to Warren Buffett, calling him "the ultimate master of the investor craft." The Carlyle cofounder and private equity billionaire, in an interview with Insider in September 2022, detailed 12 traits and habits that make Buffett the epitome of a great investor. He's a pure investor, he's made it a lifelong vocation." Humility"Warren Buffett doesn't run around telling everyone how smart he is.

☆ Warren Buffett is likely to load up on cheap stocks as other investors panic in 2023, Elon Musk says
▼ + stars: | 2022-12-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett is likely go on a stock-buying spree in 2023, Tesla CEO Elon Musk says. Musk has flagged higher interest rates and a looming recession as headwinds for stocks. "If a company has very strong fundamentals, but then the market is doing some short-term panic situation, obviously that's the the right time to buy stock," Musk added. Still, Musk has quoted the investor on earnings calls, while Buffett has praised Tesla's unlikely success and hailed Musk as a "remarkable guy." Read more: David Rubenstein views Warren Buffett as the ultimate investor.

☆ Warren Buffett's favorite Christmas gifts for his family? $10,000 in cash, dresses, and boxes of See's Candies.
▼ + stars: | 2022-12-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Warren Buffett has given dresses, chocolates, and stacks of cash to family members for Christmas. "I would go over and they'd wheel out the dresses," Buffett said. In 2013, the card showed Buffett dressed as Walter White from "Breaking Bad" with the message "Have yourself a Meth-y Little Christmas." In 2018, the card showed Buffett wearing a T-shirt reading "The Next Charlie Munger" with the caption "Aiming High in 2019." Read more: David Rubenstein sees Warren Buffett as the ultimate investor.

Dovly Uplift provides credit monitoring and monthly TransUnion credit reports and credit scores. Visa offers free credit repair for cardholders through Dovly UpliftOn Tuesday, smart credit repair company Dovly announced an agreement with Visa. The agreement will provide Visa cardholders with Uplift, a smart credit repair service created by Dovly for Visa cardholders, free of charge. In broad strokes, credit monitoring describes the process of checking your credit reports consistently to see if there are any errors or inaccuracies on your credit reports. While consumers can currently see their credit reports every week through the end of 2023, when that period ends, the Fair Credit Reporting Act only affords consumers three credit reports each year.

☆ The CEO of Coinbase says the exchange will see revenue plunge at least 50% in 2022 as turmoil weighs on crypto markets
▼ + stars: | 2022-12-08 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Coinbase CEO Brian Armstrong expects the company's revenue to dive at least 50% in 2022. The crypto exchange cut 18% of its staff earlier this year, slashing roughly 1,200 roles. "(Armstrong) indicated that he expects Coinbase FY2022 revenue to be less than half of FY2021 revenue," the company tweeted on Wednesday. The warning comes after Coinbase cut 18% of its workforce in June, slashing around 1,200 employees. The crypto market took another hit last month, when Sam Bankman-Fried's FTX, which was once valued at $30 billion, filed for bankruptcy.

☆ Former FTX CEO Sam Bankman-Fried hit with campaign finance complaint over GOP 'dark' money
▼ + stars: | 2022-12-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

An ethics watchdog group has asked the Federal Election Commission to investigate former FTX CEO Sam Bankman-Fried for alleged "serious violations" of election law, citing his admitted contributions of "dark" money to Republican-aligned groups during the 2022 primary season. Anyone can file a complaint with the FEC if they suspect a violation of federal election campaign laws. The complaint contains a link to the Nov. 16 interview Bankman-Fried gave to Tiffany Fong, who posted the discussion on her YouTube channel. "All my Republican donations were dark," Bankman-Fried went on to say, the complaint noted. In the interview, Bankman-Fried said that those contributions were "all for the primary."

☆ Andreessen Horowitz just led a $43 million round into real estate financing startup Setpoint after seeing this 10-slide pitch deck
▼ + stars: | 2022-12-07 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Setpoint, a property tech startup that provides financing for real estate, has raised $43 million. The Series A round was led by US investing giant Andreessen Horowitz. Setpoint provides access to financing for single-family residences (SFR), fractional ownership, and rent-to-own housing and works with property tech companies like Flyhomes. Setpoint's Series A funding round was led by Andreeseen Horowitz with participation from Stonecroft, 75andSunny, Fifth Wall, 645 Ventures, NextView Ventures, LiveOak Venture Partners, Vesta Ventures, and ATX Venture Partners. "Venture investors are certainly being more cautious, but in our experience, companies that have found great product-market-fit are getting funding," Wall added.

☆ Paul Pelosi appeared in public for the first time since his attack, wearing a hat indoors after sustaining a skull fracture
▼ + stars: | 2022-12-05 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

He attended the Kennedy Center Honors on Sunday with wife, House Speaker Nancy Pelosi. Paul Pelosi, 82, suffered a skull fracture and injuries to his right hand and arm in the attack, and was hospitalised for six days. At the event, Pelosi wore a glove over his left hand, and the right was bare. At the event, Kennedy Center chairman David Rubenstein praised the Pelosis, who received an ovation from attendees. The new Republican majority is expected to elect Rep. Kevin McCarthy as House Speaker.

☆ George Clooney, Gladys Knight among Kennedy Center honorees
▼ + stars: | 2022-12-04 | by ( ) www.cnbc.com time to read: +5 min

Secretary of State Antony Blinken, second from left, and his wife, Evan Ryan, left, join 2022 Kennedy Center Honorees, front row from left, Amy Grant, Gladys Knight, George Clooney, Tania León, and Kennedy Center President Deborah Rutter, back row from left, Kennedy Center Chairman David Rubenstein, along with fellow 2022 Honorees Adam Clayton, Larry Mullen Jr., The Edge, and Bono for a group photo at the State Department following the Kennedy Center Honors gala dinner, Saturday, Dec. 3, 2022, in Washington. Sometimes the Kennedy Center honors not just individuals but groups; "Sesame Street" once got the nod. Composer and conductor León said during an interview when the honorees were announced that she wasn't expecting "anything spectacular" when the Kennedy Center initially reached out to her. After all, she's worked with the Kennedy Center numerous times over the years going back to 1980, when she was commissioned to compose music for a play. León left Cuba as a refugee in 1967 and eventually settled in New York City.

☆ Trump faced a jury pool 'notorious' for huge damages before settling a lawsuit brought by protesters, experts say
▼ + stars: | 2022-11-22 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +10 min

Donald Trump's lawyers settled a lawsuit brought by protesters at the 11th hour. He faced a likely hostile jury pool notorious for awarding high damages compared to juries in Manhattan or Long Island. Other still images appear to show a protester grabbing a security team member, suggesting Trump's lawyers may have argued he was acting in self-defense. Former President Donald Trump speaks during a campaign rally at Minden-Tahoe Airport on October 08, 2022 in Minden, Nevada. Cohen also said Trump's lawyers failed to disclose he had knowledge of the day's events, even though they were supposed to.

☆ What Kanye West, Liz Cheney, Oprah Winfrey, The Rock, and Andrew Yang have in common: They're third-party alternatives to the Biden-Trump 2024 presidential binary.
▼ + stars: | 2022-11-21 | by ( Hanna Kang | ) www.businessinsider.com time to read: +2 min

Oprah WinfreyGetty Images/Getty Images for Global CitizenOne of the most influential women in the world, Oprah Winfrey's presidential ambitions have long been a subject of celebrity-watching chatter. "I want all the girls watching here, now, to know that a new day is on the horizon," she said. Winfrey said she had met with someone who offered to help with a political campaign, but she declined. "I've always felt very secure and confident with myself in knowing what I could do and what I could not," Winfrey told Brown. "I thought, oh gee, I don't have the experience, I don't know enough, and now I'm thinking, 'Oh, oh?'"

☆ Arun Majumdar's mom cooked over a coal stove on the floor, and now he's the first leader of Stanford's new climate school — here is his story
▼ + stars: | 2022-11-19 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +11 min

Building a successful climate school that both educates people and scales up technological solutions in its accelerator arm requires thinking beyond the bubble of Silicon Valley. Majumdar's understanding of the importance of a global perspective for the climate school is also personally informed. He was also a professor, did research, and worked at Google for a stint before eventually getting the opportunity to lead the launch of the Stanford climate school. The lessons he learned at ARPA-E are helping form the foundation for the accelerator arm at the Stanford climate school. Stanford Doerr School of Sustainability Photo courtesy Cat Clifford, CNBCSo far, the sustainability school at Stanford seems to be popular with students.

☆ Treat investing in crypto like a trip to Las Vegas after FTX's collapse, says billionaire investor David Rubenstein
▼ + stars: | 2022-11-18 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

David Rubenstein warned investors to tread carefully around crypto after FTX's collapse. Crypto investing is like gambling because "you know you're probably going to lose," he said. "If you go to Las Vegas and you like to gamble, you know you're going to lose money," Rubenstein told "Mornings with Maria" on Fox Business. "So if it gives you pleasure to gamble, okay, so take the amount of money you're happy to lose, fine." That should encourage retail investors to stay away from crypto investing, according to Rubenstein.

☆ A top economist breaks down why he's forecasting a 50% chance of recession next year
▼ + stars: | 2022-11-18 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

In a wide-ranging conversation, Moody's Analytics' Mark Zandi broke down his US recession forecast and how a looming housing correction differs from 2008. The way Mark Zandi sees it, the US is facing a 50% chance of a recession next year, but his baseline forecast actually sounds more optimistic than those odds. "I expect prices to be down 10% peak to trough, with no recession," he said. Bank of America analysts shared one area of the bond market that's set to deliver 13% returns in 2023. A recession presents an opportunity to build wealth as a real estate investor, Mike Zuber explained.

☆ FTX suggests Sam Bankman-Fried transferred assets to Bahamas government custody after bankruptcy: Filing
▼ + stars: | 2022-11-17 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

FTX in a bombshell emergency court filing Thursday said evidence suggests Bahamian regulators directed former CEO Sam Bankman-Fried to gain "unauthorized access" to FTX systems to obtain digital assets belonging to the company after it had filed for bankruptcy protection. The filing said that Bankman-Fried transferred those assets to the custody of the Bahamian government. It cites an interview published by Vox on Wednesday where Bankman-Fried expresses serious disdain for regulators. In that motion, FTX said the alleged conduct puts "in serious question" a request by Bahamian regulators for recognition as liquidators in the bankruptcy. The appointment of the JPLs and recognition of the Chapter 15 Case are thus in serious question," the filing continued.

☆ Warren Buffett's Berkshire Hathaway reveals it built a $4 billion stake in Taiwan Semiconductor - and added Jefferies to its stock portfolio
▼ + stars: | 2022-11-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett's Berkshire Hathaway disclosed a new, $4 billion stake in Taiwan Semiconductor. Berkshire boosted its Chevron and Oxy bets, and slashed its wagers on US Bancorp and BNY Mellon. The total value of Berkshire's US stock portfolio, which excludes overseas holdings such as BYD, declined slightly to $296 billion. The report revealed it spent a net $3.7 billion on stocks in the period, and foreshadowed its enlarged Chevron stake. It also roughly quadrupled it stake in Chevron in the first quarter, and now counts the oil major among the five most-valuable holdings in its stock portfolio.

☆ Sam Bankman-Fried steps down as FTX CEO as his crypto exchange files for bankruptcy
▼ + stars: | 2022-11-11 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022. Sam Bankman-Fried's cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy in the U.S., according to a company statement posted on Twitter. CNBC reached out to Adam Landis, founding partner of Landis Rath & Cobb LLP, who filed the Chapter 11 proceedings on behalf of FTX. FTX founder Sam Bankman-Fried admitted on Thursday that he "f---ed up." The Chapter 11 proceedings exclude the following subsidiaries: LedgerX LLC, FTX Digital Markets Ltd., FTX Australia Pty Ltd., and FTX Express Pay Ltd.

☆ Warren Buffett's Berkshire Hathaway reveals it sold about $4 billion of US Bancorp stock - and likely scored a $600 million profit
▼ + stars: | 2022-11-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett's Berkshire Hathaway sold over 60% of its US Bancorp stock for about $4 billion. Buffett's company has counted US Bancorp among its largest holdings since 2007, and owned 145 million shares worth $8.1 billion at the start of January. Now it holds just 53 million shares valued at $2.4 billion, reflecting its stock sales and the 22% drop in US Bancorp stock this year. US Bancorp shares traded around $45 a share between July 1 and October 31, the period when the vast majority of selling took place. Buffett and his team will file a portfolio update next week, confirming how much US Bancorp stock they sold in the quarter.

☆ Warren Buffett's Berkshire Hathaway likely boosted its Chevron bet last quarter. Here are 6 key insights from its Q3 earnings.
▼ + stars: | 2022-11-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Berkshire benefited from higher interest rates and a stronger US dollar. It also revealed the billion-dollar hit to its insurance business from Hurricane Ian, and the positive impact of higher interest rates and a stronger US dollar on its operations. The discrepancy suggests it raised its stake to about 170 million shares last quarter. It owned about 908 million shares of the iPhone maker at the end of December, and purchased nearly 4 million more shares in the second quarter of this year. The US central bank's rate increases boosted the amount of interest that Berkshire earned on its cash and Treasury bills.

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