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☆ China is increasingly unnerved by Russia and North Korea's growing alliance, says top US official
▼ + stars: | 2024-11-25 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

North Korea is providing crucial support to Russia in Ukraine, and is getting favors in return. China is increasingly concerned about the alliance between Kim Jong Un's North Korea and Vladimir Putin's Russia, according to Kurt Campbell, the US deputy secretary of state. AdvertisementMeanwhile, Russia is providing North Korea with economic and diplomatic support. "But the Chinese are waiting for an opportunity where North Korea, Russia, and China can come stronger together, and I think North Korea sending the troops to Russia is a testimony to that." The growing alliance between North Korea and Russia, he said, is a step toward that.

Persons: Kurt Campbell, Kim Jong, Vladimir Putin's, Putin, Campbell, Donald Trump, Ali Wyne, Jagannath Panda Organizations: Center for Strategic, International Studies, Guardian, Russia, Crisis, North, Stockholm Center, South, Pacific Affairs Locations: China, East Asia, North Korea, Russia, Ukraine, Vladimir Putin's Russia, Kursk, DPRK, Pyongyang, Moscow, Beijing, North, South Korea, Korea

☆ Uber and Lyft drivers say they're earning less — so some are starting their own ride services
▼ + stars: | 2024-11-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

AdvertisementSome Uber and Lyft drivers are starting businesses driving people they meet through the apps. Uber and Lyft drivers can make as little as $3 per ride, pushing some to look for alternatives. Brian is one of four drivers who told BI about starting his own business offering rides outside Uber and Lyft. When BI asked whether drivers are allowed to pitch their own businesses while on a trip for Uber, an Uber spokesperson said the app's drivers are independent contractors. The spokesperson also referenced company statistics showing that Uber drivers make more than $30 per hour "while active on the app."

Persons: Brian, Lyft, Uber, Torsten Kunert, YouTuber, Kunert, Phil Organizations: Business, Uber, Rideshare Services Locations: California, Ontario, Canada, San Diego

☆ Gold drops over 1% on profit-booking, Trump's Treasury Secretary pick
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: +2 min

Gold bar bullions ingot, selective focus, crisis safe haven for investment or reserve for country economics. Gold prices dropped over 1% on Monday, weighed down by profit-taking after a five-session rally, with further pressure from the announcement of fund manager Scott Bessent as the next U.S. Treasury Secretary. Spot gold fell 1.52% to $2,671.29 per ounce as of 0501 GMT, while U.S. gold futures shed 1.5% to $2,672.90. Gold's five-day rally pauses due to some profit-taking and Trump's pick of Scott Bessent as U.S. Treasury Secretary, hinting at tempered use of tariffs and easing U.S.-China trade uncertainty, said IG market strategist Yeap Jun Rong. Less dovish U.S. policy signals and potential inflation surprises could support a December rate hold, slowing rate cut prospects can be seen weighing on gold prices, Rong said.

Persons: Scott Bessent, Yeap Jun Rong, Donald Trump, Rong Organizations: Treasury, Federal, Traders Locations: China, U.S, Israel, Beirut, Tel Aviv

☆ Rethinking the 4% rule in retirement
▼ + stars: | 2024-11-25 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

The most commonly recommended rule of thumb is the so-called 4% rule, which means you spend 4% of your portfolio every year, on an inflation-adjusted basis. When you die, your nest egg could be almost as large if not larger than it was on your first day of retirement. For example, Morningstar ran simulations on a $1 million portfolio over 30 years using the 4% rule. That’s because the rule is based on a very high probability that you never exhaust your nest egg. “It’s not just about getting employees to retirement but (helping them figure out) what to do once they’re in retirement,” Williams said.

Persons: you’d, William Bengen, Morningstar, ” Christine Benz, ”, Rob Williams, Charles Schwab, Williams, It’s, Mark Warshawsky, Warshawsky, Craig Copeland, “ It’s, ” Williams Organizations: CNN, Social Security, Social Security Administration, Social, American Enterprise Institute, American Council for, Research

☆ Stock futures inch higher on Monday after Dow closes at another record: Live updates
▼ + stars: | 2024-11-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on Aug. 2, 2024. Stock futures edged higher in overnight trading Monday, after the Dow Jones Industrial Average closed at a new record. Futures tied to the Dow added 30 points, or 0.1%, while S&P 500 futures and Nasdaq 100 futures rose 0.1% and 0.2%, respectively. The 30-stock Dow popped more than 440 points, or about 1%, to a new record close during regular trading. The Russell 2000 hit a new intraday high — its first record since 2021 — as investors piled into small caps.

Persons: Kohl's, Stocks, Donald Trump's, Dow, Russell, Scott Bessent, NewEdge’s Cameron Dawson, CNBC's Organizations: New York Stock Exchange, Dow Jones, Dow, Nasdaq, President, Trump, Key Square, Treasury Locations: U.S

☆ Trump's trade plan could mean higher prices, and avoiding the impact won't be simple
▼ + stars: | 2024-11-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, Trump's trade plans could spell trouble for prices, and preparing for it isn't so easy . AdvertisementThe prevailing theory among many economists is Trump's plan will increase prices and inflation as companies pass the cost of the taxes down to their customers. He told BI he views them more as a negotiation tactic with China and American companies with operations there. Still, some experts told BI they foresee obstacles to making it a reality . Sector experts told BI the massive chipmaker will continue to make its most advanced tech in Taiwan .

Persons: Drew Angerer, Tyler Le, Donald Trump's, Emily Stewart, We're, Philip Daniele didn't sugarcoat, John David Rainey, There's, Dominick Reuter, Emily, Trump, Nobel, Simon Johnson, Brian Cornell, Natalie Ammari Baby boomers, Scott Bessent, George Soros, Bluesky, Rose Wang, It's, Chelsea Jia Feng, Taylor Swift, they'll, crosshairs, Elon Musk, Vivek Ramaswamy's, Biden, Alex Jones, Menendez, Dan DeFrancesco, Grace Lett, Lisa Ryan, Ella Hopkins, Amanda Yen, Jack Sommers, Milan Sehmbi Organizations: Business, Getty, Walmart, Electronics, Target, Social Security, Treasury, Trump, Nvidia, White, Los Locations: China, Phoenix, Taiwan, Florida, Washington, Los Angeles, New York, Chicago, London

☆ Jim Cramer examines Wall Street's reaction to Trump Treasury secretary pick
▼ + stars: | 2024-11-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Monday reviewed investors' reaction to President-elect Donald Trump's latest cabinet pick, hedge fund manager Scott Bessent. His takeaway is that Wall Street believes the potential Treasury secretary will be a prudent force in the administration. "What matters is that this Treasury secretary designate is a serious person, not unlike Steven Mnuchin before him," he said "And those who believed Trump couldn't get a dollop of rigor in the cabinet — well, they've been proven wrong." Cramer also pointed out that Treasury yields fell, with the 10-year sliding to about 4.28% when investors were worried about it hitting 4.5% a few days ago. "That's where Scott Bessent, the Treasury Secretary designate, comes from, so the fence sitters and skeptics are jumping on the Trump bandwagon as if the president elect said, 'higher stock prices and lower taxes for all.'"

Persons: CNBC's Jim Cramer, Donald Trump's, Scott Bessent, Steven Mnuchin, Trump, they've, Cramer, George Soros, Bessent, Shinzo Abe, That's Organizations: Dow Jones Industrial, Treasury, Trump

☆ The Philippines' vice president has publicly threatened to assassinate her boss and his wife
▼ + stars: | 2024-11-25 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

Vice President Sara Duterte said on Saturday that she'd spoken to a hitman to kill her boss and his wife. Philippine Vice President Sara Duterte openly threatened on Saturday to assassinate the country's president, marking the deepest fracture yet in an alliance they once formed for the 2022 election. AdvertisementEduardo Año, national security advisor to the president, added that authorities considered Duterte's threat a "matter of national security." But she also blasted the national security council, saying that its responsibilities related to the safety of the country, not a vice president's remarks about a president. AdvertisementA partnership doomed from the startIn the Philippines, the vice president and president are elected separately and don't necessarily hail from the same party or ideology, though Duterte and Marcos positioned themselves as running mates.

Persons: Sara Duterte, Duterte, I've, Ferdinand, Bong Bong, Marcos, you'll, BBM, Liza Araneta, Martin Romualdez, Eduardo Año, Duterte's, Rodrigo Duterte, Ferdinand Marcos Sr, Ronald Holmes, gunning, —, Jorge Tigno, that's, Holmes, Tigno Organizations: of Representatives, voters, De La Salle University, of Education, Lawmakers, University of, Duterte, Senate, Business Locations: Philippines, Manila, China, Southeast

☆ In the US, young and middle-aged women are being diagnosed with lung cancer at higher rates than men
▼ + stars: | 2024-11-25 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +14 min

“Although lung cancer overall is decreasing because of declines in tobacco use, lung cancer among people who have never smoked has been rising significantly,” Wojcicki wrote in a YouTube blog that was posted Monday. A trend has emerged in the United States of more young and middle-age women being diagnosed with lung cancer at higher rates than men. 1 risk factor for lung cancer, many of these young women being diagnosed have never smoked. Although it remains unclear what exactly is driving this rise in lung cancer among young women, Yu has some ideas. Last year, US representatives introduced the Women and Lung Cancer Research and Preventative Services Act, which aims to commission more lung cancer research and would require the US Department of Health and Human Services to conduct an interagency review of the status of lung cancer in women, including identifying new opportunities for screening, diagnosis and treatment.

Persons: Susan Wojcicki, ” Wojcicki, “, ”, ” Mundin, ’, ‘ You’re, Jhalene Mundin, Helena Yu, Kara, Yu, I’m, ” Kara, “ I’m, ” Yu, Mundin, Alexander Drilon, ” Drilon, Drilon, Lung, …, it’s, Dr, Sanjay Gupta Organizations: CNN, YouTube, Memorial Sloan Kettering Cancer Center, Chicago Marathon, “, Lung Cancer Research, US Department of Health, Human Services, National Institutes, CNN Health, American Cancer Society, US Preventive Services Task Force Locations: “, United States, New Jersey, East, Taiwan

☆ The auto industry is pulling back on its ‘capital junkie’ tendencies after unprecedented spending on EVs, self-driving
▼ + stars: | 2024-11-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

It's a "capital junkie" that's been on a yearslong binge of unprecedented spending on all-electric and autonomous vehicles. The April 2015 report highlighted the industry's massive capital spending on overlapping or niche products that Marchionne was convinced could be solved through consolidation and shared capital spending. Most capital spending by automakers isn't wasted, but the industry isn't as efficient as other sectors, with minimal return on invested capital. Stock Chart Icon Stock chart icon Stocks of GM, Ford and Chrysler parent Stellantis in 2024. Courtesy: Business WireGM and Hyundai this summer entered into an agreement to explore "future collaboration across key strategic areas" in an effort to reduce capital spending and increase efficiencies.

Persons: bender, Morgan Stanley, Adam Jonas, It's, Sergio Marchionne, Marchionne, Sergio Marchionne Brendan McDermid, Jonas, Joe Hinrichs, isn't, We've, Rebecca Evans, Roland Berger, Ford, Peter Rawlinson, Andrew Kelly, Oliver Blume, Blume, Paul Jacobson, Jacobson, Rivian, RJ Scaringe, Mary Barra, Euisun Chung, codevelop, Stellantis, —, Carlos Tavares, Oliver Bunic Organizations: General Motors, Ford, Nissan Motor, Volkswagen Group, Chrysler, Companies, Research, GM, Volkswagen, Toyota Motor, Fiat, Rivian, Lucid, Fiat Chrysler, Reuters, Rivian Automotive, Hyundai Motor, Toyota, CSX Corp, Rehab, Nissan, CNBC, Lucid Motors, Nasdaq, Churchill Capital Corp, Reuters Volkswagen, VW, Honda, BMW, SAIC, Barclays, Saudi, Public Investment Fund, Hyundai, Detroit, French, PSA Groupe, Stellantis NV, Bloomberg, Getty Locations: Casa Grande , Arizona, Detroit, Japan, Germany, That's, New York City , New York, Europe, China, U.S, Kragujevac, Serbia

☆ Meet the Press – November 24, 2024
▼ + stars: | 2024-11-24 | by ( ) www.nbcnews.com time to read: +57 min

[END TAPE]KRISTEN WELKER:According to the Washington Post, President-elect Trump plans to fire the team that worked with the special counsel. So, I think President Trump is picking reformers for these Cabinet positions. After the midterms Joe Biden said that there was no way President Trump would ever be back in the White House. He's going to sign some executive actions, but he's also going to then begin to roll out this plan. I also think he's going to face some skepticism by Republicans on using the military, for instance, going kind of into different states.

Persons: KRISTEN WELKER, MATT GAETZ, Donald Trump’s, Matt Gaetz, SEN, KEVIN CRAMER, RON JOHNSON, PETER WELCH, Will Mr, Donald Trump, STEPHEN MILLER, Vladimir Putin, Adam Schiff of, Eric Schmitt of Missouri, Kelly O’Donnell, Jeh Johnson, Anna Palmer, Stephen Hayes, it’s, Kristen Welker, reconsidering, DONALD TRUMP, Gaetz, MARKWAYNE MULLIN, Trump, Pam Bondi, Bondi, Eric Trump, they're, Jack Smith, Pete Hegseth, Tulsi Gabbard, Bashar Assad, Nikki Haley, NIKKI HALEY, DNI, TOM HOMAN, Trump's, Russell Vought, Russ, who's, That's Russ, Schmitt, Press . SEN, ERIC SCHMITT, he's, Pam, should've, You've, everybody's, it's, Joe Biden, Merrick Garland, Kristen, Alvin Bragg, General Merrick Garland, I've, Jane Doe, Hegseth, didn't, there's, It's, She's, maybe's, Tulsi, I'm, We've, There's, He's, they've, Adam Schiff, Adam Schiff of California, Schiff, ADAM SCHIFF, Bashar al, Assad, Marco Rubio, Rubio, Debbie Wasserman Schultz, Gabbard, That's, —, Adam, Shifty, Donald Trump's, –, Harris's, Kamala Harris didn't, Joe Biden's, Biden's, Pelosi, Biden, Nancy Mace, Mace, Sarah McBride, McBride, Johnson, Kelly O'Donnell, KELLY O’DONNELL, Anna, we're, ANNA PALMER, JEH JOHNSON, we've, Lindsey Graham, I'd, Steve, STEPHEN HAYES, We're, Eric Schmitt, you've, Kelly, Scott Bessent, Newt Gingrich, Gingrich, NEWT GINGRICH, KELLY O'DONNELL, Let's, it's Trump, Obama, Tom Homan, Rand Paul, let's, Bob Gates, Leon Panetta, McConnell, They're, he'll, Mitch McConnell, Mitch McConnell's, Stephen, John Thune, Thune Organizations: Republicans, Biden Administration, Democratic, Adam Schiff of California, NBC, White, Homeland, Punchbowl News, The, Press, Justice Department, Pentagon, Republican Senators, BONDI, The Department of Justice, Washington Post, Trump, OMB, Press ., NBC News, Gaetz, DOJ, Patriot, White House, Department, Senators, Armed Services Committee, DNI, Democrat, intel, United States Senate, it's, Services, Judiciary, NATO, Capitol, Intelligence, Democratic Party, Homeland Security, Senate Republicans, Senate, Sears, Roebuck, FBI, Department of Defense, New, New York Cities, Biden, DOD, Republican Conference, Defense Locations: Ukraine, Washington, Florida, PRES, Pennsylvania, United States of America, New York, Atlanta, China, Russian, Hawaii, American, Europe, U.S, Russia, United States, America, Tulsi, –, Guantanamo

☆ How the Trump administration and congressional Republicans may crack down on pro-Palestinian protesters
▼ + stars: | 2024-11-24 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Simone-Weichselbaum.Jpg | Simone Weichselbaum | ) www.nbcnews.com time to read: +14 min

Some of the nation’s leading civil rights groups told NBC News that they are gearing up for a flood of legal battles to protect the protesters. Under Rubinstein, America First Legal has in the past year filed four lawsuits that provide a glimpse into how the Trump administration could differ from its predecessor. America First Legal alleges in the suits that the State Department, the Justice Department, the Department of Homeland Security and the Department of Education have protected pro-Hamas extremists. Rubinstein in an interview brought up an additional law he expects a second Trump administration could enforce. The Knight Institute said although it expects the new Trump administration to aggressively police speech, it is prepared to fight back.

Persons: Donald Trump, Trump, they’re, Biden, he’s, ”, Ben Wizner, Sen, Joni Ernst, Ernst, CUAD, ” Ernst, Elisha Baker, Reed Rubinstein, Stephen Miller, Miller, Rubinstein, “, ” Rubinstein, aren’t, Department didn’t, Spokespeople, SJP, Edward Ahmed Mitchell, Mitchell, Joe Biden, ” Mitchell, Vince Warren, Esther, —, ” Warren, Knight, Jameel Jaffer, Wizner, isn’t, ” Wizner, Kenneth Marcus, George W, Bush, Louis D, Marcus, Marcus ’, ” Marcus, Trump’s, ” Trump Organizations: Republicans, Trump, NBC, Hamas, U.S . Justice Department, U.S, NBC News, American Civil, Technology, ’ Biden, Justice Department, . Immigration, Customs Enforcement, “, FBI, Columbia University, Columbia University Apartheid, Flyers, U.S . Education Department, America, Washington , D.C, State Department, Department of Homeland Security, Department of Education, Department, Foreign, Education Department, Chicago, Department of Justice, Chicago Police Department, Center for Constitutional Rights, ACLU, Islamic Relations, Muslim, ”, Republican, Trump Justice Department, Heritage Foundation, Knight, Biden Treasury Department, of Education’s, Civil Rights, Brandeis Center for Human, of Education, The, Education, Republican Party, Jewish Locations: Gaza, Washington, U.S, ’, Iowa, Washington ,, FARA, Chicago, Israel, Vietnam, York

PARIS — Most have on jeans, some wear rough work boots, and one sings with a white construction helmet tucked under his arm. The 80-strong choir has come together to do more than sing, though — the crew of architects, stonemasons, archaeologists, art historians, art conservators and others have helped rebuild Paris’ Notre-Dame cathedral after a fire ripped through the iconic French Gothic masterpiece nearly five years ago. Much like the building and rebuilding of a cathedral, a small army of individuals needs to work in unison to create extraordinary music. Just weeks before, she and her husband had taken their children to visit the cathedral — and now it was at risk of being reduced to rubble and ashes, she remembers. “Everyone was very sad and very anxious about the potential collapse of the cathedral overnight,” she said.

Persons: —, conservators, Stephanie Duchêne, Dame Compagnons, ”, Duchêne, Robbie Lee, Gabriel Fauré’s “ Cantique de Jean Racine, Jean Racine, ” Duchêne, “, ” Agnes Poirier, Notre Organizations: PARIS, Paris, Notre, Dame, Laboratory of Research, Historical Monuments, NBC News, NBC, Séverin, Left Locations: ”, Saint, Paris, French, France

LAS VEGAS — Max Verstappen clinched his fourth Formula 1 world championship Saturday night under the bright lights of Sin City, cementing his standing among the legends of the sport. What a season,” Verstappen said while still in his car over team radio. 2024 F1 World Drivers Champion Max Verstappen celebrates after the F1 Grand Prix of Las Vegas on Saturday. Mark Thompson / Getty ImagesThe international sport has brought a new level of glitz and glamor — and a title-decider — to Las Vegas. After winning seven out of the first 10 races, Verstappen has won just one of the last 12 races.

Persons: Max Verstappen, McLaren's Lando Norris, Norris, Verstappen, Michael Schumacher, Lewis Hamilton, Sebastian Vettel, Alain Prost, Juan Manuel Fangio, “, ” Verstappen, It’s, ”, Sylvester Stallone, George Russell, Hamilton, Ferrari's Carlos Sainz, Mark Thompson, ” Paris Hilton, McLaren, Sainz, Charles Leclerc, “ It’s, ” Norris, Max, Red Bull, Mercedes, Sergio Perez, Austin —, Nevada’s Clark, Daniel Towriss, Michael Andretti, Bull, Ford, it's Organizations: VEGAS, Bull, Mercedes, Las, Las Vegas, ”, NBC News, Venetian, Bellagio, Ferrari, Vegas, Prix, Andretti, GM, FIA, Associated Press, Formula, Liberty Media, Department of Justice, Verstappen, McLaren Locations: Sin City, Las Vegas, Las, Vegas, United States, Miami, Nevada’s Clark County

☆ Chuck Woolery, game show host of ‘Love Connection’ and ‘Scrabble,’ dies at 83
▼ + stars: | 2024-11-24 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

Chuck Woolery, the affable, smooth-talking game show host of “Wheel of Fortune,” “Love Connection” and “Scrabble” who later became a right-wing podcaster, skewering liberals and accusing the government of lying about Covid-19, has died. Mark Young, Woolery’s podcast co-host and friend, said in an email early Sunday that Woolery died at his home in Texas with his wife, Kristen, present. “Chuck was a dear friend and brother and a tremendous man of faith, life will not be the same without him,” Young wrote. The audience would vote on the three contestants, and if the audience agreed with the guest’s choice, “Love Connection” would offer to pay for a second date. Woolery told The Philadelphia Inquirer in 2003 that his favorite set of lovebirds was a man aged 91 and a woman aged 87.

Persons: Chuck Woolery, ”, Mark Young, Woolery, Kristen, “ Chuck, ” Young, Alberto E, Rodriguez, We’ll, lovebirds, “, ‘, Lingo, TV’s Organizations: American, of Fame, Philadelphia Inquirer Locations: Covid, Texas, Beverly Hills, Calif, Melrose

☆ 7-Eleven is at the center of a multibillion-dollar bidding war
▼ + stars: | 2024-11-24 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

AdvertisementSeven & i Holdings, owner of 7-Eleven stores, is at the center of a three-way bidding war. Japan-based Seven & i Holdings, owner of the iconic global chain of 7-Eleven convenience stores, is at the center of an intensifying bidding war, multiple outlets reported. The 7-Eleven chain was founded in 1927 in Dallas, per The Journal. It was originally called the Southland Ice Company but was rebranded in 1946 to be called 7-Eleven based on its hours of operation. Representatives for Alimentation Couche-Tard and 7-Eleven did not immediately respond to requests for comment from Business Insider.

Persons: Alimentation, Tard, Ryuichi Isaka, Junro Ito, Ito, Masatoshi Ito, Junro, —, Yokado Organizations: Holdings, Street Journal, i's, Seven, Bloomberg, Southland Ice Company, Business Locations: Canadian, Japan, Quebec, Dallas

☆ Millennials say they plan to spend big this holiday season — 'I see a lot of optimism,' expert says
▼ + stars: | 2024-11-24 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

"I see a lot of optimism going into the holiday season," said Charlie Wise, TransUnion's senior vice president and head of global research and consulting. More from Personal Finance:Thanksgiving meals are expected to be cheaper in 2024How Trump's win could change your health careRemote work is helping Americans take longer trips"It's clear that millennials will play the largest role this holiday shopping season with the greatest expected spend," Wise said. Holiday spending between Nov. 1 and Dec. 31 is forecast to increase to a record total of $979.5 billion to $989 billion, according to the National Retail Federation. Even as credit card debt tops $1.17 trillion, holiday shoppers expect to spend, on average, $1,778, up 8% compared with last year, Deloitte's holiday retail survey found. Meanwhile, 28% of holiday shoppers surveyed in September said they still had not paid off the gifts they purchased for their loved ones last year, according to a holiday spending report by NerdWallet, which polled more than 1,700 adults.

Persons: TransUnion, Charlie Wise, TransUnion's, Wise Organizations: Finance, National Retail Federation, NerdWallet

☆ Goldman Sachs says these 11 stocks are next in line to benefit from the AI wave as Magnificent 7 dominance starts to fade
▼ + stars: | 2024-11-24 | by ( Christine Ji | ) www.businessinsider.com time to read: +4 min

Just seven stocks have fueled much of the market's rally: Amazon, Apple, Alphabet, Microsoft, Meta, Nvidia, and Tesla. Move over, Magnificent SevenAfter an incredible two-year rally, it's may be difficult to see the Magnificent Seven cooling off. For context, the Magnificent Seven outperformed the rest of the S&P 500 by 22% so far this year and 63% in 2023. "And so our analysis is there's potential for multiple expansion in those stocks," Kostin added. To find companies likely to see enhanced revenues from AI, Goldman Sachs analyzed recent messaging from company management regarding AI rollout.

Persons: Goldman Sachs, Tesla, David Kostin, Kostin, That's, Goldman Organizations: Microsoft, Meta, Nvidia, Digital Realty

☆ Trump Tariffs: Businesses, Americans Are Preparing for Higher Prices
▼ + stars: | 2024-11-24 | by ( Emily Stewart | ) www.businessinsider.com time to read: +10 min

They're trying to figure out what to do. They're trying to figure out what to do. Thanks to muscle memory from the tariffs Trump imposed in 2018, he says, many businesses are speeding up their shipping schedules — racing to get as many goods as possible into the country before any new tariffs are implemented. So did dryers, even though they weren't subject to tariffs — companies figured customers would assume that two related products were subject to the same inflationary forces. Related stories"If they can accelerate big purchases they know they're going to make, they should do that," says Lovely, the senior fellow at the Peterson Institute.

Persons: Donald Trump's, I'm, I've, Jolie, Trump, Greg Daco, Mary Lovely, Ernie Tedeschi, Biden, Steve Madden, Paul Brashier, Brashier, Stephen Lamar, Mike Brey, Brey, Lindsay Owens, Tedeschi, it's, didn't, Emily Stewart Organizations: Trump . Companies, Yale Budget, Peterson Institute, Yale Budget Lab, ITS Logistics, Trump, American Apparel and Footwear Association, Hobby Works, tote, Apple Watch, Business Locations: United States, New York City, China, EY, American, Vietnam, Mexico, USA

☆ 2024 NFL Week 12: Sunday’s standout games and what to look out for
▼ + stars: | 2024-11-24 | by ( Ben Morse | ) edition.cnn.com time to read: +11 min

Week 12 began with the Cleveland Browns beating the Pittsburgh Steelers in snowy conditions on Thursday Night Football. It’s a bumper week of teams on bye in Week 12 with six – the Atlanta Falcons, Buffalo Bills, Cincinnati Bengals, Jacksonville Jaguars, New Orleans Saints and New York Jets – all having some time to recalibrate. San Francisco 49ers vs. Green Bay Packers – 4:25 p.m. Before Sunday’s game, Murray spoke about his time with Petzing and why it’s been so successful so far this season. ETSan Francisco 49ers vs. Green Bay Packers – 4:25 p.m.

Persons: Christian McCaffrey, Brandon Aiyuk, Nick Bosa, Kyle Shanahan’s, McCaffrey, Lachlan Cunningham, Matt LaFleur, Quarterback Jordan Love, Bo Melton, Jayden Reed, Christian Watson, Dontayvion Wicks, Shanahan, LaFleur, “, ”, ” Love, Michael Reaves, Lumen, Kyler Murray, Drew Petzing, James Conner, Trey McBride, Michael Wilson, Marvin Harrison Jr, Murray, it’s, ” Murray, there’s, Mark J, Reuters “, Mike Macdonald’s, Macdonald, Geno Smith, It’s, that’s, Jarran Reed, Steph Chambers, Saquon Barkley, Barkley, Pro Football Hall of Famers Eric Dickerson, Edgerrin James, Ezekiel Elliott, Eric Hartline, Jalen, Justin Fields, Josh Allen, Nick Sirianni, he’s, We’ve, we’re, – Cooper, – Organizations: CNN, Cleveland Browns, Pittsburgh Steelers, Atlanta Falcons, Buffalo Bills, Cincinnati Bengals, Jacksonville Jaguars, New, New Orleans Saints, New York Jets, San Francisco 49ers, Green Bay Packers, 49ers, Kansas City Chiefs, Niners, Seattle Seahawks, Packers, NFL.com, Bowl, Getty Images Arizona Cardinals, Seattle Seahawks –, NFL, The Arizona Cardinals, Cardinals, Veteran, USA, Sports, Reuters, Seahawks, Seattle, Getty, Philadelphia Eagles, Los Angeles Rams, SoFi, Eagles, Rams, Pro Football Hall of Famers, Dallas Cowboys, Sunday, Football, Buffalo, NFC, Carolina Panthers, Minnesota Vikings, Chicago Bears, Tennessee Titans, . Houston Texans –, Detroit Lions, Indianapolis Colts, New England Patriots, . Miami Dolphins –, Tampa Bay Buccaneers, . New York Giants, . Washington, Denver Broncos, Las Vegas Raiders, Arizona Cardinals Locations: New Orleans, Francisco, San Francisco, Green, Bo, Washington

☆ DOGE coming: Beware these stocks that get the most revenue from the government
▼ + stars: | 2024-11-24 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Investors should be wary of the impacts several companies may bear from the cost-cutting goals of President-elect Donald Trump's Department of Government Efficiency, or DOGE, according to TD Cowen. "The announcement of DOGE has led to concerns about future revenue and profitability of USG [United States government] contractors," analyst Roman Schweizer said in a Friday note to clients. "It is too early to estimate potential negative impacts to USG contractors given the limited results of prior USG reforms, but cuts are possible and there will be uncertainty for several months." In an effort to find companies that have the most at stake under potential DOGE actions, TD Cowen identified the publicly traded government contractors with the highest amount of dollars obligated in fiscal year 2023, both overall and by individual federal department. Pharmaceutical giants such as Merck , Humana and Pfizer could also be impacted by potential DOGE cuts, as the firm found they receive large sums of money primarily through contracts with the Department of Health & Human Services.

Persons: Donald Trump's, TD Cowen, DOGE, Roman Schweizer, Elon Musk's, Vivek Ramaswamy's, Musk, Tesla, Ramaswamy, Lockheed Martin, Schweizer, headcount Organizations: Donald Trump's Department, Government, USG, United, Street, Trump, Congress, U.S, Northrop Grumman, Lockheed, Dynamics, Boeing, NASA, Department of Defense, Department of State . Defense, Leidos Holdings, DoD, Pharmaceutical, Merck, Humana, Pfizer, Department of Health & Human Services Locations: United States

☆ Senators bracing for confirmation battles over unorthodox Trump Cabinet picks
▼ + stars: | 2024-11-24 | by ( Lauren Fox | Clare Foran | ) edition.cnn.com time to read: +7 min

Hegseth on Thursday huddled with a handful of Republican senators, many of them seen as close allies of Trump, for a series of meetings. But while some members of the party signal support for the nomination, other Republicans on the Hill warn that there are mounting concerns about Hegseth. With a 53-seat majority, Hegseth and other Trump nominees can afford to lose only three Republican votes, leaving little room for error. Trump’s transition team was in the middle of announcing new Cabinet picks when they were informed of the sexual assault allegation against Hegseth, CNN reported, stunning several members of the team. Mullin said that Hegseth voluntarily brought up the sexual assault allegation against him in a meeting on Capitol Hill.

Persons: Matt Gaetz, Pete Hegseth, Tulsi Gabbard, Trump, Hegseth, Marsha Blackburn of, Markwayne Mullin, “, —, Gaetz, Trump’s, GOP Sen, Kevin Cramer, ”, Cramer, Hegseth isn’t, she’s, Robert F, Kennedy Jr, I’m, Mullin, ” Mullin, Republican Sen, Bill Hagerty Organizations: CNN, Republicans, Capitol, Trump, Pentagon, of Defense, Lawmakers, Police, Fox News, Republican, GOP, Department of Health, Human Services, White, Hill, Senate, Hegseth Locations: Marsha Blackburn of Tennessee, Oklahoma

☆ Chuck Woolery, game show host of ‘Wheel of Fortune’ and ‘Love Connection,’ dies at 83
▼ + stars: | 2024-11-24 | by ( Associated Press | ) edition.cnn.com time to read: +2 min

New York (AP) — Chuck Woolery, the affable, smooth-talking game show host of “Wheel of Fortune,” “Love Connection” and “Scrabble” who later became a right-wing podcaster, skewering liberals and accusing the government of lying about COVID-19, has died. Mark Young, Woolery’s podcast co-host and friend, said in an email early Sunday that Woolery died at his home in Texas with his wife, Kristen, present. “Chuck was a dear friend and brother and a tremendous man of faith, life will not be the same without him,” Young wrote. The audience would vote on the three contestants, and if the audience agreed with the guest’s choice, “Love Connection” would offer to pay for a second date. Woolery told The Philadelphia Inquirer in 2003 that his favorite set of lovebirds was a man aged 91 and a woman aged 87.

Persons: Chuck Woolery, ”, Mark Young, Woolery, Kristen, “ Chuck, ” Young, We’ll, lovebirds, “, ‘, Lingo, TV’s Organizations: American, of Fame, Philadelphia Inquirer Locations: York, COVID, Texas, Melrose

☆ Trump's vow to use US troops for mass deportations could face intense resistance — starting from within the military
▼ + stars: | 2024-11-24 | by ( Lauren Frias | ) www.businessinsider.com time to read: +8 min

Laws sharply limit the roles that federal troops can fill in US law enforcement. National Guard troops that report to state governors can support law enforcement, but the Posse Comitatus Act bars active-duty and federalized Guardsmen from acting as law enforcement. "You can fill in the blank on who those might be, but probably more Republican governors that are more friendly to President Trump. Those who are less friendly to President Trump would maybe not be as interested in taking on this mission." AdvertisementNevitt said he thought federal troops carrying out domestic law enforcement would tarnish the "special trust" the American public holds in the military.

Persons: Trump, Donald Trump, Mark Nevitt, Karoline Leavitt, Leavitt, Gary Solis, Solis, ANGELA WEISS, Nevitt, President Trump, Thomas Homan, Homan Organizations: National Guard, Service, Trump, Guardsmen, National Guardsmen, US Navy, Marine JAG, US, Getty, Emory University, Immigration, Defense Department, Pentagon, ICE, DoD, Fox Business Network, Washington, Navy, American Locations: Wyoming, Texas, Mexico

☆ Trump Is Running His Transition Team on Secret Money
▼ + stars: | 2024-11-24 | by ( Ken Bensinger | David A. Fahrenthold | ) www.nytimes.com time to read: +1 min

President-elect Donald J. Trump is keeping secret the names of the donors who are funding his transition effort, a break from tradition that could make it impossible to see what interest groups, businesses or wealthy people are helping launch his second term. Mr. Trump has so far declined to sign an agreement with the Biden administration that imposes strict limits on that fund-raising in exchange for up to $7.2 million in federal funds earmarked for the transition. By dodging the agreement, Mr. Trump can raise unlimited amounts of money from unknown donors to pay for the staff, travel and office space involved in preparing to take over the government. Mr. Trump is the first president-elect to sidestep the restrictions, provoking alarm among ethics experts. And unlike with campaign contributions, foreign nationals are allowed to donate to the transition.

Persons: Donald J, Trump, Biden Organizations: Trump

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