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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFamily-owned businesses could be an investing opportunity in 2024, says Blackstone's Joseph BarattaJoseph Baratta, Blackstone global head of private equity, joins 'Closing Bell Overtime' to talk the state of dealmaking, top investing opportunities in the New Year and more.
Persons: Blackstone's Joseph Baratta Joseph Baratta, Blackstone Locations: dealmaking
Emma Stone has been married to husband Dave McCary since 2020. The couple met in 2016 on "Saturday Night Live," where McCary worked as a writer and director. December 2016: Emma Stone hosts "SNL" for the third time and meets director Dave McCaryEmma Stone during her "Saturday Night Live" monologue on December 3, 2016. According to People , it was during the filming of this sketch that Stone met McCary, who had been working as a segment director for the show since 2013. "Emma Stone gives a second life to a white dress specially designed for her wedding after-party."
Persons: Emma Stone, Dave McCary, McCary, , I've, Lorne Michaels, Stone, Dave McCary Emma Stone, Will Heath, Price, McCarys, Kyle Mooney, Andrew Garfield, Matt Thomas, Kevork Djansezian, it's, Louis Vuitton, Stephane Cardinale, Corbis, Drew Barrymore, Emma, Dave, Louise Jean McCary, Jean Louise, Stowearsars, Dimitrios Kambouris Organizations: Service, NBC, SNL, NBCU, Boys, Citi Field, San Diego Padres, Getty, Staples Center, Golden State Warriors, Los Angeles Clippers, SAG, Stone, Academy, Country, Louis, The Metropolitan Museum of Art, The Met Museum, Vogue
I hesitated to enroll in NYU Stern because of its reputation for being cutthroat and competitive. AdvertisementChoosing New York University's Stern School of Business as my new home was not a decision I took lightly. I've discovered the reality at Stern contrasts sharply with the stereotypesContrary to popular belief, the stereotypes about Stern students are just that — stereotypes. AdvertisementStern is not a traditional college experience, but it's perfect for meMany people say the Stern experience is like getting your MBA as an undergrad. The school's hyperfocused approach, combined with the lack of a "traditional" college campus differentiates it starkly from a conventional college experience.
Persons: NYU Stern, , University's, Stern, I've, résumés, they've, It's Organizations: NYU, Service, University's Stern School of Business, U.S . News, Stern Locations: Wall, Manhattan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market was more focused on OPEC's form and 'missed the content', says Cornerstone's Mike RothmanHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Cornerstone's Mike Rothman, Brian Sullivan, Organizations: CNBC
The milestone marks the first time Nuuly has earned money since its launch in 2019, a goal for the company from the beginning as it looked to prove it could run a clothing rental business profitably. While there is wide demand for clothing rental services, particularly among younger consumers, the logistics of rental have made it difficult to make money, threatening the platforms' viability. watch nowNuuly and Rent's services are similar in that they both offer clothing for rent on a monthly basis for all sorts of occasions. The clothing rental market is still a budding industry. As brands look to convince consumers to rent instead of buy, offering a wide-ranging assortment has proven critical.
Persons: Natalie Rice, Nuuly, David Hayne, we've, Gen Z, Jenn Hyman, Rent, Hayne, Urban's, Richard Hayne Organizations: Natalie Rice Urban Outfitters, CNBC
Fiona Harris Communications director, Raffles London"It's the magic combination: the building, the location and the name, Raffles," Fiona Harris, Raffles London's communications director, told CNBC Travel. All in, the hotel houses 120 suites and rooms, including five heritage suites in the former offices of political and military leaders, and eight corner suites named after notable women and female spies. Raffles London is home to 120 rooms and suites, including eight corner suites named after notable women and female spies. Saison, run by Argentine Michelin star chef Mauro Colagreco, is one of nine restaurants and three bars at Raffles London. London's new luxury waveA stay at Raffles London is not without a significant price tag.
Persons: Winston Churchill's, Fiona Harris, Sir Stamford, Henry VIII, Ian Fleming's James Bond, Churchill, David Lloyd George, Lord Kitchener, Harris, Winston Churchill, Thierry Despont, Raffles, Argentina's Mauro Colagreco, sipping, Mauro Colagreco, James Bond, Ian Fleming, It's, Christine Granville, Gopichand Hinduja —, , Hinduja Organizations: Raffles, Downing, Fiona Harris Communications, CNBC Travel, Sir Stamford Raffles, Hinduja, Ministry of Defense, British Army, Architects, British Secret Service, CNBC, Suite, Liberty, Michelin, Raffles London, Guards, London Sling, Argentine Michelin, Ministry, Hyde Park, Royal British Legion, British Armed Forces Locations: Whitehall, London, Raffles London, British, Singapore, India, Argentine, U.S, China, Granville, Hyde, Rosewood, Claridge's, The Emory
[1/5] Cut diamonds are seen at the diamond exchange in Antwerp, as the G7 weighs a ban on Russian diamond imports to reduce revenues for Moscow's war in Ukraine, Antwerp, Belgium, October 30, 2023. Other diamond firms in Antwerp, the world's biggest centre of trade in rough diamonds and cutting of the biggest gems, were asked to avoid Russian stones. Now, Western powers want to make the boycott official with a formal ban on Russian stones. Imports of Russian rough diamonds are now at less than 5% of pre-war levels, the source said. Most proposals under consideration by the G7 now focus on rough diamonds of 1 carat and above initially.
Persons: Johanna Geron, Thierry Tugendhaft, Van Cleef, Tugendhaft, De Beers, It's, Julia Payne, Elaine Hardcastle Organizations: REUTERS, Rights, European, World Diamond Council, EU, Thomson Locations: Antwerp, Ukraine, Belgium, Rights ANTWERP, Russia, Paris, Tiffany's, Cartier, Canada, Lesotho, South Africa, Botswana, India, United States, Japan, European Union, France, Antwerp . New
Jeff Bezos announced he is moving from Seattle to Miami, in part to be close to his parents. Moving from Washington state to Florida could save Bezos a yachtload in taxes. Now, he's off to Miami where there's no capital gains tax and zero state income tax. They don't worry too much about income tax, but they do focus a lot on capital gains tax. Those holdings will probably be exposed to capital gains tax, too.
Persons: Jeff Bezos, Bezos, fiancé Lauren Sanchez, , Miguel Bezos, Jeff, Lauren, Miami, McKenzie Scott, Brad Stone's Organizations: Service, Seattle, Miami Palmetto, GO, Amazon, SEC, Tech Locations: Seattle, Miami, Creek , Florida, Washington, Florida, , Florida, Biscayne, Amsterdam, New York City, California , New York, Texas
HBO's CEO admitted to using fake Twitter accounts to hit back at critics' negative reviews. One of the fake accounts was reportedly for a fake Texas mom named Kelly Shepherd. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Bloys admitted Thursday that he made secret Twitter accounts to take digs at critics' negative reviews of HBO's programming. One of the troll accounts was created in the name of a fake Texas mom named Kelly Shepherd, whose bio describes her (ahem, Bloys) as a vegan, aromatherapist, and herbalist.
Persons: Casey Bloys, Kelly Shepherd, , Bloys, Sully Temori, Stone, Kathleen McCaffrey, McCaffrey, Temori, James Poniewozik, Joss, Shepherd, Hale, Mike Hale, — Kelly Shepherd, Alan Sepinwall, Alan Organizations: Service, HBO, Max, Variety, Bloys, New York Times, Times Locations: Texas, York
The Category 5 hurricane damaged nearly all of Acapulco's homes, left bodies bobbing along the coastline and much of the city foraging for food. She and hundreds of thousands others lived two hours of terror last week, and now face years of work to repair their already precarious lives. Living in a two-room concrete house with no potable water and unpaved roads, that glamor never reached their doorstep. —Otis intensified within hours from a tropical storm into the strongest hurricane to hit the Eastern Pacific coast, taking many by surprise. García Ramirez and other fishermen pulled the boats onto the city’s Manzanilla Beach when Otis was still a Category 2 storm.
Persons: — Estela Sandoval Díaz, Hurricane Otis, Sandoval, l, ” Sandoval, “ They’ve, They’ve, Otis, Andrés Manuel López Obrador, , they'd, — Sandoval, glamor, Viverista, , I’ve, López Obrador, — Otis, Jim Kossin, Eleazar García Ramirez, there’s, García Ramirez, They’re, Seth Borenstein, Félix Márquez Organizations: Associated Press, Military, AP, Avid, Residents, Authorities Locations: ACAPULCO, Mexico, Acapulco, chicest, Washington
Rohit Sharma saved India's blushes with a captain's knock of 87 in what initially appeared a below-par total of 229-9 on a tricky surface at the Ekana Stadium in Lucknow. Put into bat, the hosts slumped to 40-3 in the 12th over before Rohit forged a 91-run partnership with KL Rahul (39) to arrest their slide. Suryakumar Yadav contributed a breezy 49 down the order and India's tailenders scored some useful runs towards the end to take them past the 225-mark. England were reduced to 52-5 inside 16 overs in a remarkable batting capitulation and were eventually bundled out for 129 in inside 35 overs with Mohammed Shami claiming 4-22 for India. Writing by Amlan Chakraborty in New Delhi; editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.
Persons: Bharat Ratna, Atal Bihari, India's Mohammed Shami, England's Moeen Ali, Adnan Abidi, Rohit Sharma, India's, Rohit, Suryakumar Yadav, India's tailenders, Mohammed Shami, Liam Livingstone's, Amlan Chakraborty, Pritha Sarkar Organizations: Cricket, ICC Cricket, Atal Bihari Vajpayee Ekana Cricket, KL Rahul REUTERS, England, KL, Thomson Locations: India, England, Lucknow, LUCKNOW, New Delhi
Remembering Blackstone's Byron Wien
  + stars: | 2023-10-26 | 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 EmailRemembering Blackstone's Byron WienCNBC contributor and Blackstone Private Wealth Solutions vice chairman, Byron Wien has passed away.
Persons: Blackstone's Byron, Byron Wien Organizations: CNBC, Blackstone, Wealth Solutions
Byron Wien, Vice Chairman of Private Wealth Solutions group, speaks during the Reuters Global Investment 2019 Outlook Summit, in New York, U.S., November 13, 2018. Wien built his wide following on Wall Street during two decades at investment bank Morgan Stanley (MS.N) where he rose to be the firm's chief investment strategist of the United States. Soon after, at age 76, when most people were enjoying retirement, Wien joined private equity firm Blackstone to offer direction and guidance. "My wife hopes I give this up as soon as possible," Wien told the New York Times about writing it. He told the New York Times in 1985 "I'm not sure I can do this job," about the strategist role at Morgan Stanley.
Persons: Byron Wien, Brendan McDermid, Wien, Morgan Stanley, Blackstone, Steve Schwarzman, Jon Gray, I'm, Svea Herbst, Bayliss, Chris Reese Organizations: Wealth Solutions, Reuters, REUTERS, Blackstone Inc, Wien, Pequot Capital Management, Blackstone, U.S, New York Times, Harvard, Svea, Thomson Locations: New York, U.S, United States, China, Wien
Ray Dalio, Jamie Dimon, David Solomon, Larry Fink, and Steve Schwarzman all shared their views. They tackled topics such as inflation, recession, the Israel-Hamas war, and commercial real estate. JPMorgan CEO Jamie Dimon, BlackRock CEO Larry Fink, Goldman Sachs CEO David Solomon, Blackstone CEO Steve Schwarzman, and Bridgewater Associates founder Ray Dalio all shared their views. They touched on everything from the Israel-Hamas conflict and pressures on commercial real estate to inflation, interest rates, fiscal and monetary policies, and the risk of recession. David SolomonThe Goldman Sachs chief recalled the boom in mergers and acquisitions coming out of the pandemic, as massive amounts of fiscal stimulus and rock-bottom interest rates fueled "extreme confidence."
Persons: Ray Dalio, Jamie Dimon, David Solomon, Larry Fink, Steve Schwarzman, , Goldman Sachs, Blackstone, Dalio, Dimon, Fayez Nureldine, David Solomon The Goldman Sachs, that's, Solomon, Fink, aren't, he's, we'll, Schwarzman Organizations: Service, Future Investment Initiative, Tuesday, JPMorgan, BlackRock, Bridgewater Associates, Getty Locations: Saudi Arabia, Israel, Russia, Ukraine, Riyadh, AFP
Stephen Schwarzman said remote workers "don't work as hard regardless of what they tell you." Schwarzman added that remote workers profit because they save on commuting and meals. AdvertisementAdvertisementBillionaire Stephen Schwarzman said on Tuesday that people benefited from remote work because they can save on commuting and meals while not having to work as hard. During Tuesday's panel discussion, Schwarzman said the prevalence of remote working could result in more vacant office buildings. AdvertisementAdvertisementSchwarzman, whose remarks were first reported by Bloomberg on Tuesday, isn't the only business executive who's criticized remote work.
Persons: Stephen Schwarzman, Schwarzman, , Blackstone, who's, Jamie Dimon, Elon Musk, Musk Organizations: Blackstone, Saudi Arabia's Future Investment Initiative, Service, Bloomberg, JPMorgan, KPMG
Paramount Global 's controlling shareholder is open to a merger or selling the company at the right price, according to people familiar with her thinking. Spokespeople for Redstone and Paramount Global declined to comment. Paramount Global's market value was below $8 billion as of Friday. Discovery could merge with Paramount Global, though putting together Warner Bros. and Paramount Pictures may hold up deal approval with U.S. regulators. Paramount Global isn't actively working with an investment bank on a sale, according to people familiar with the matter.
Persons: Shari Redstone, David A, CNBC Shari, Jon Miller, SpongeBob, Guggenheim, Michael Morris, Morris, Warren Buffett, Berkshire Hathaway, Bob Bakish, Bakish, Wells, Steven Cahall, Cahall, CNBC's David Faber, Lina Khan, Laura Martin, haven't, Simon, Simon & Schuster, Sumner Redstone, NAI, Jim Cramer Organizations: National Amusements, Paramount Global, Allen & Company Sun Valley, Grogan, CNBC, Paramount, Redstone, Integrated Media, Advancit, Paramount Pictures, CBS, MTV, Nickelodeon, Comedy Central, BET, Showtime, NFL, Champions League, Viacom, Berkshire, Paramount Global's, Tech, Apple, YouTube, National Football, Federal Trade, Big Tech, Comcast, NBC, Fox, Disney, Needham & Co, Netflix, Bain, Co, Warner Bros, Sky, Scripps, Discovery, Simon &, MSD Partners Locations: Sun Valley , Idaho, Los Angeles , California, U.S
Morgan Stanley CEO James Gorman plans to retire by May 2024, leaving big shoes to fill. AdvertisementAdvertisementSuccession has traditionally been a bloody sport on Wall Street with the losers leaving and taking their lieutenants with them. Morgan Stanley CEO James Gorman, who plans to retire by May 2024, wants the buck the trend so the bank can hold onto all three candidates. "Wall Street has had a history of that not happening," said Gorman in a July earnings call. With Morgan Stanley at the top of its game, breaking up this well-oiled team could be disastrous.
Persons: Morgan Stanley, James Gorman, Ted Pick, Andy Saperstein, Dan Simkowitz, , Gorman, Morgan, Ted, He's, Tony James, Morgan Stanley's, Pick, Simkowitz, Dodd, Frank, Fannie Mae, Freddie Mac, Dan, Andy Saperstein Saperstein, Merrill Lynch, Bloomberg, Hayley Cuccinello Organizations: Service, Archegos Capital Management, Washington , D.C, Federal Reserve, Treasury, General Motors, AIG, Citigroup, McKinsey, Staten, Disney, Hamptons Locations: Washington ,, hcuccinello@insider.com
Multiple Wall Street analysts are sticking by their bullish calls on Blackstone despite a disappointing third quarter, telling investors that now is the time to buy the stock. Shares of Blackstone fell nearly 8% on Thursday after earnings and revenue came in short of estimates, according to FactSet's StreetAccount. BX 3M mountain Blackstone's stock has fallen sharply over the past month. But Oppenheimer analyst Chris Kotowski said in a note to clients Friday that the move in the alternative asset manager's stock is an overreaction and that investors should buy the dip. "Blackstone (BX) has been exhibiting relative strength – including with its strong investment performance (especially in private credit and infrastructure).
Persons: Blackstone, FactSet's, Oppenheimer, Chris Kotowski, Kotowski, Craig Siegenthaler, Siegenthaler, Jon Gray, Gray, — CNBC's Michael Bloom Organizations: Blackstone, Bank of America, The Bank of America
Tesla — Shares of the electric vehicle manufacturer dropped more than 7% after it reported third-quarter earnings results that failed to impress investors. Zscaler — This cybersecurity company was also up nearly 2% in premarket trading, after Jefferies similarly upgraded it on Thursday, citing an improved growth outlook. First Solar — Shares added nearly 2% in premarket trading after JPMorgan upgraded the renewable energy company to overweight. Blackstone — The alternative asset manager fell 3% in premarket trading after Blackstone's third-quarter results came in below expectations. Las Vegas Sands — Shares popped more than 5% after Las Vegas Sands reported third-quarter revenue that topped expectations.
Persons: Goldman Sachs, Jefferies, Aptiv, Curtis Nagle, LSEG . Blackstone, Blackstone, Lam, FactSet, , Sarah Min, Jesse Pound, Samantha Subin Organizations: LSEG, Netflix, Goldman, JPMorgan, Bank of America, Wall Street, Vegas Sands, Lam Research Locations: LSEG, Vegas, Lam
Brimstone Energy, a California-based startup, is one of several companies trying to reduce the carbon emissions from the production of cement, which accounts for about 8% of global carbon emissions. Unlike limestone, however, the silicate rock contains no CO2, so there are no such emissions associated with the production process. Last July it received certification that its product is essentially the same as Portland cement. Not only does the silicate rock Brimstone uses not emit carbon, it actually absorbs carbon. "Ultimately, our plan, our goal would be to develop a credibly lower-cost process to make Portland cement at scale.
Persons: Cody Finke, Finke, Cooper, Lisa Rizzolo Organizations: Brimstone Energy, Breakthrough Energy Ventures, DCVC, Fund, S2G Ventures, CNBC Locations: California, Portland
Sharon Stone debuts new art exhibition
  + stars: | 2023-10-16 | by ( Helen Stoilas | ) edition.cnn.com   time to read: +6 min
Greenwich, Connecticut CNN —Sharon Stone throws herself into her art. “I just get in this kind of trance,” Stone said of her daily painting practice during an interview with CNN. Courtesy C. Parker GalleryMany of the works in the show draw on social issues, as well as personal experience. “I created these works to understand the essence of pure creativity that comes from heartfelt truth,” Stone said in a statement accompanying the exhibition. ChiChi Ubina/Courtesy C. Parker GalleryStone now spends much of her time in the studio trying to translate how she sees the world onto canvas.
Persons: Sharon Stone, hasn’t, , ” Stone, ” Sharon Stone's, Stone, Parker, , Tiffany Benincasa, ” Benincasa, Vonne, lockdowns, CNN’s Chris Wallace, Wassily Kandinsky, Joan Miró, “ Amelia, Amelia Earhart, Claude Monet, Giverny ”, Claude Monet’s Organizations: Greenwich , Connecticut CNN, CNN, Parker, of Affairs, Edinboro University Locations: Greenwich , Connecticut, Jerusalem, Israel, Greenwich, Pennsylvania, Los Angeles, Giverny, France
Consider this guide your roadmap for transforming your next business trip into a stress-free and enjoyable experience. Over 5,000 IHG hotels worldwide now offer Wi-Fi Auto Connect – an effortless way to automatically join the internet without separate login codes or passwords. Enrolling in IHG Business Rewards also earns frequent business travelers points every time you book accommodations, meetings, and events. Learn how IHG Hotels & Resorts can accommodate your next business trip. This post was created by Insider Studios with IHG Hotels & Resorts.
Persons: it's, shouldn't Organizations: JTB Business, Resorts, Insider Studios, IHG Hotels Locations: American, Lion City, Crowne, InterContinental
The AI boom has triggered a surge in spending on data centers. The AI boom has supercharged a wave of spending on data centers. AdvertisementAdvertisementThe data center boom is set to double or triple the amount of energy consumed by these data centers. A recent Cowen research report estimated that AI data centers could require more than five times the power of traditional facilities. Amazon does not disclose how many data centers it occupies, where they are located, or how much electricity they consume.
Persons: , ChatGPT, it's, Jonathan Gray, Cowen, Marc Ganzi, Shaolei Ren, Tom Keane, Keane, Bernstein, Mark Moerdler, Jahi, Matt McCollister, Pena Popo, Blackstone, Karla Moran, Moran Organizations: Service, McKinsey, Nvidia, UC Riverside, Microsoft, Washington, Getty, Lincoln Property Company, Harrison Street, Google, Meta, Amazon, Blackstone, Income Trust, QTS Realty Trust, Amazon Web Services, AP, Phoenix Locations: America, Rural America, Loudoun Meadows, Aldie , VA, Ohio, New Albany, Columbus, Northern Virginia, Dallas, Phoenix, Silicon Valley, Chicago, Washington, DC, Virginia, New York City, Salt
Execs at a healthcare conference debated whether employers should pay for workers' weight-loss drugs. A Blackstone exec warned that the costly GLP-1 drugs could put some employers out of business. Panelists agreed that companies covering the drugs should do so as part of a broader support program. Andreas Mang, the CEO of Equity Healthcare, a division of Blackstone, said spending on these diabetes and weight-loss drugs, known as GLP-1 agonists, spiked 600% across Blackstone's portfolio in the last four years. The benefits firm Aon recently projected that employers' health-insurance costs will climb 8.5% next year, fueled in part by weight-loss drugs.
Persons: Blackstone, Andreas Mang, they're, Melynda Barnes, Lucia Guillory, Li Shao, Shao, Omada, We've, They're Organizations: Blackstone, Equity Healthcare, GLP, Getty, Wei, Omada, Pharmaceutical Locations: Las Vegas, Europe
Ecclestone has also agreed a civil settlement with HM Revenue and Customs (HMRC), under which he will pay 652.6 million pounds covering tax, interest and penalties for 18 tax years between 1994 and 2022, prosecutor Richard Wright said. The 92-year-old appeared at London's Southwark Crown Court and pleaded guilty to one count of fraud by false representation, just over a month before he was due to stand trial. Ecclestone gave an unintelligible response to reporters as he left the court and got into a waiting Range Rover. Richard Las, chief investigation officer and director of the Fraud Investigation Service at HMRC, said Ecclestone had "lied to HMRC". The decision also states that Ecclestone paid around 250 million pounds in income and capital gains tax to HMRC between 1999 and 2017.
Persons: Bernie Ecclestone, Belinda Jiao, Ecclestone, Richard Wright, Simon Bryan, Clare Montgomery, Andrew Penhale, Richard Las, Bryan, Mr Ecclestone, Montgomery, Vladimir Putin, Sam Tobin, William James, Alex Richardson, Susan Fenton Organizations: Formula, Southwark Crown, HM Revenue, Customs, HMRC, Crown Prosecution Service, Thomson Locations: Southwark, London, Britain, Singapore
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