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TV shows face a cutthroat new era
  + stars: | 2024-09-12 | by ( Lucia Moses | ) www.businessinsider.com   time to read: +6 min
To hear agents, lawyers, and producers tell it, the Hollywood they're going back to is more risk-averse than ever. Think of the "Suits LA" spinoff of the USA Networks show that was popularized by Netflix, and shows with big stars attached to them. Even big stars are getting slightedThere's an overall feeling that Hollywood has become too risk-averse. But in the meantime, the dearth of shows being ordered will take its toll on Hollywood. "There's just some people who are not going to be able to survive this dark period," a second lawyer said.
Persons: , it's, ProdPro, David Zaslav, Jennifer Salke, bankable, Elle Fanning, Nicole Kidman, David E, Kelley, Bill Dubuque, Comcast's Peacock, Jake Gyllenhaal, Kathy Bates, There's, Jonathan Glickman Organizations: Service, Hollywood, Netflix, USA Networks, Business, Warner Bros . Discovery, Amazon MGM Studios, Apple, Netflix . Media, Disney, CBS, Industry, Producers, Miramax Locations: Hollywood
With the iOS 18 update, Apple is making it easier to repair your own iPhone, without the headache. The "Repair Assistant" feature will recognize genuine iPhone parts, allowing them to function properly. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementApple is finally allowing customers to repair or replace parts in their iPhones without (as much) of a headache. The new feature, which Apple first announced in April, will run through a calibration process to authenticate genuine new or used iPhone parts users have installed on their own.
Persons: , MacRumors Organizations: Apple, Service, Business
It's also a sign of just how expensive the business of training and running AI models is getting. AdvertisementGenerative AI is a cash-guzzlerStartups like OpenAI need to raise huge amounts of capital to build smarter AI models. Just look at the spending of Big Tech firms working to improve their AI models. Consolidation has struck the AI industry in recent months, as some top startups trying to build AI models have been gutted. AI startups serious about progressing on LLMs will need to figure out the answer to this pretty quickly.
Persons: , Elon, Sam Altman, ChatGPT, It's, Justin Sullivan, OpenAI, Dario Amodei, Anthropic, Pretty, Amodei's Anthropic, Dario Amodei's Anthropic, Noam Shazeer —, Ben Bergman, Sri Muppidi, it's, Elad Gil, Gil Organizations: Service, Bloomberg, Business, SpaceX, Getty, Microsoft, Big Tech, Street, Nvidia, Apple, Amazon, Samsung, Google Locations: OpenAI, aren't
We have an embarrassment of riches when we look at TJX Companies and Costco in terms of just flat-out value — and a dicey one, admittedly, in Best Buy , which I think has turned an important corner. Costco Research firm Redburn downgraded Costco this week, which made me want to downgrade Redburn. But Costco stock has never been cheap. It was just a one-off thing but I think that Best Buy has worked its way into the conversation after its last quarter. (Jim Cramer's Charitable Trust is long TJX, COST, BBY, AAPL.
Persons: Jeff Marks, Jim Cramer's, Jim Cramer, Jim Organizations: TJX Companies, Costco, TJX, Costco Research, Redburn, Club, Apple Intelligence, Apple, Federal Reserve, CNBC Locations: Maxx
From the front door of X, which is closing up shop in San Francisco on Friday, Market Street runs straight through downtown to the bay. Now, as X leaves its spot, Market Street is still suffering from all the same problems it had before Twitter. After handing over millions of dollars in tax breaks to one of the world's wealthiest corporations, San Francisco has nothing to show for it. AdvertisementI keep remembering a work trip I took to San Francisco in 1999, a few years before I moved here. "Our focus remains on working with and supporting the many businesses that call San Francisco home," the statement reads.
Persons: Daniel Burnham, Elon Musk, Twitter, Ted Egan, Bon Marché, Paula Smith Arrigoni, restaurateurs, Dolby, Twitter didn't, Egan, Uber decamped, Musk, San Francisco, Adam Rogers Organizations: Twitter, Central Market, Anadolu, Getty, AQ, Area, Coalition, Apple, New York Times, San, Sony, Microsoft, Ikea, London Breed, Business Locations: San Francisco, Austin, South Park, California, Brisbane, Texas, scuzzy, gentrify, Alta, Oro, Bon, Kaya, Bay, Oakland
Mortgage rates fall to lowest level since February 2023
  + stars: | 2024-09-12 | by ( Bryan Mena | ) edition.cnn.com   time to read: +3 min
Washington CNN —Mortgage rates fell this week to the lowest point since February 2023, in a welcome sign for Americans grappling with a tough housing market. The standard, 30-year fixed-rate mortgage averaged 6.20% in the week ended September 12, mortgage financing giant Freddie Mac said Thursday. Mortgage rates started to drop early last month on news affirming lower interest rates in the future, specifically after a weaker-than-expected jobs report for July, and have gradually edged lower since. “Mortgage rates have fallen more than half a percent over the last six weeks and are at their lowest level since February 2023,” Sam Khater, Freddie Mac’s chief economist, said in a release. The Fed doesn’t directly set mortgage rates, but its action do influence them through movements in bond yields.
Persons: Freddie Mac, ” Sam Khater, Freddie Mac’s, that’s, Lawrence Yun Organizations: Washington CNN —, , Federal Reserve, Treasury, Las, P Global, Apple, Fed, National Association of Realtors Locations: New York City, San Diego, Las Vegas, America, Los Angeles, Miami
Occidental Petroleum shares have dropped 29% since mid-April, impacting Warren Buffett's stake in the company. Berkshire Hathaway's $13 billion stake in Occidental Petroleum may be underwater, based on estimates. The price decline in Occidental shares has coincided with a 23% decline in crude oil prices since mid-April. AdvertisementTo be clear, the average price Berkshire Hathaway paid for its Occidental Petroleum stake is only known by Berkshire Hathaway itself. Another sign that Berkshire Hathaway's Occidental Petroleum bet is souring is based on the warrants it owns to purchase additional shares.
Persons: Warren Buffett's, , Warren, Warren Buffett's Berkshire, Buffett, Berkshire Hathaway, Chris Bloomstran, Semper Augustus, Bloomstran, Vicki Hollub, it's, Hollub Organizations: Occidental Petroleum, Berkshire Hathaway's, Service, Warren Buffett's Berkshire Hathaway, Berkshire, Berkshire Hathaway's Occidental Petroleum, Apple, Bank of America, Occidental, Occidental Petroleum's Locations: Berkshire, Occidental
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple isn't an evil company, but they do sometimes benefit from Chinese slave labor: JD VanceSen. JD Vance (R-Ohio) joins 'Squawk Box' to discuss Vance's thoughts on Big Tech, which mergers are good or bad, and much more.
Persons: JD Vance Sen, JD Vance Organizations: Apple, Big Tech Locations: Ohio
Samsung Electronics, the world's top maker of smartphones, TVs and memory chips, is cutting up to 30% of its overseas staff at some divisions, three sources with direct knowledge of the matter told Reuters. The sources declined to be named because the scope and details of the job cuts remained confidential. Samsung Electronics , the world's top maker of smartphones, TVs and memory chips, is cutting up to 30% of its overseas staff at some divisions, three sources with direct knowledge of the matter told Reuters. The job cuts come as Samsung grapples with mounting pressure on its key units. One of the sources familiar with the plans said the job cuts were being made in preparation for a slowdown in global demand for technology products as the global economy slows.
Persons: Samsung's, Samsung Organizations: Samsung Electronics, Reuters, Samsung, Manufacturing, South Korean, SK Hynix, Apple, Huawei Locations: Americas, Europe, Asia, Africa, South Korea, India, China
In today's big story, this guy is ready to give up after applying to nearly 2,200 jobs . The big storyNot hiringKevin Cash Ben BoxerHow tough is the current job market? AdvertisementThe job market is in a weird spot these days. On paper — and maybe in another labor market — Kevin appears to be the perfect candidate. It's a tough reality check for employees who previously held all the power in the job market.
Persons: , Zer, Kevin Cash Ben Boxer, Kevin Cash, Tim Paradis, Kevin, it's, Forget, Tyler Le, we're, duMond, Chip Somodevilla, Alyssa Powell, Harris, Rebecca Zisser, Elon, Apple, Jensen, Goldman Sachs, David Soloman, Huang, Chelsea Jia Feng, Trump, Brian Niccol, We're, Niccol, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Business, Mensa, BI Trump, Oppenheimer, Fed, Twitter, Nvidia, Kroger, London Locations: San Francisco, Austin, New York, London
Apple announced on Monday that its AirPods Pro 2 headphones will become an FDA-cleared hearing aid in the coming weeks through a software update. Apple CEO Tim Cook has highlighted health features as the company's "most important contribution to mankind." The new feature is a free software update for some AirPods models and will be included with Apple's $249 AirPods Pro 2. Many over-the-counter hearing aids are much more expensive, according to buyers guides cited by the Hearing Loss Association of America, an advocacy group. Analysts say that adding health features like a hearing aid expands the market for the device, which could help sales.
Persons: Sumbul Desai, Tim Cook, Barbara Kelley, Apple, Gene Munster Organizations: AirPods, Apple, FDA, Food and Drug Administration, RBC Capital Markets, of America, Analysts, Asset Management
The best iPhone 16 Pro Max cases offer rugged protection against drop damage and dynamic, visually appealing designs. AdvertisementWill an iPhone 15 Pro Max case fit an iPhone 16 Pro Max? A case meant for the iPhone 15 Pro Max will not fit the iPhone 16 Pro Max, and vice versa, due to the new model's significantly larger display. Unlike the 6.7-inch display on the iPhone 15 Pro Max, the iPhone 16 Pro Max's display is 6.9 inches. See our guide to the best iPhone 15 Pro Max cases to equip the previous model.
Persons: we've, Max, it's Organizations: Max, Apple, Business Locations: kickstands
But one feature of the new button seems tailored for Apple's Gen Z audience. Advertisement0.5x selfies are all the rage with Gen Z. Advertisement"The new camera control alongside larger screen and improved battery performance will cement the iPhone 16 Pro Max as the top choice for Gen Z consumers," Al Jumaily said. "Gen Z is not a homogenous group," said Shantanu Dutta, a marketing professor at USC's Marshall School of Business. "The benefits desired by Gen Z users differ from country to country."
Persons: , Gen Z, Gen, Monica Hillison, Hillison, Abdul Al Jumaily, Max, Al Jumaily, Shantanu Dutta, Dutta Organizations: Service, Business, Consumer, Virginia Tech, Apple, USC's Marshall School of Business, Gen Locations: Asia, India
CNBCWarren Buffett's Berkshire Hathaway offloaded another chunk of Bank of America shares, bringing its total sales to more than $7 billion since mid-July and reducing its stake to 11%. The latest action extended Berkshire's selling streak to 12 consecutive sessions, matching the 12 consecutive sessions from July 17 to Aug. 1. Berkshire has sold more than 174.7 million shares of the Charlotte-based bank for $7.2 billion, with 858.2 million shares remaining, or 11.1% of shares outstanding. BofA CEO Brian Moynihan made a rare comment about Berkshire's sales Tuesday, saying he has no knowledge of Buffett's motivation for selling. Stock Chart Icon Stock chart icon Bank of America
Persons: Warren Buffett, Berkshire Hathaway, BofA, Moynihan, Buffett Buffett, Brian Moynihan Organizations: Berkshire, CNBC Warren, of America, Apple, American Express, Oracle, Barclays Global Financial Services, Bank of America Locations: Omaha , Nebraska, Omaha, Berkshire, Charlotte, BofA
CNN —Chappell Roan is having the year of her life. The rise of Chappell Roan, 2014 — 2015Chappell Roan hails from Willard, Missouri. This is when she adopts the stage name Chappell Roan — her late grandpa’s name was Chappell. “It’s been very freeing to be like, ‘Oh, Chappell Roan is my drag project.’”September 22, 2023: “The Rise and Fall of a Midwestern Princess” debuts, exactly six years after she put out her first EP as Chappell Roan. Chappell Roan at the Governors Ball in June in Queens, New York.
Persons: CNN — Chappell Roan, she’s, Roan, , Britney Spears, Beyoncé, Chappell Roan, “ I’ve, It’s, , Roan’s, Kayleigh Rose, Troye Sivan, , ” “ i’ve, ” Sivan, Chappell Roan —, Chappell, Jim Bennett, ” Chappell, Vance Joy, Declan McKenna, ” Roan, Tom Power, it’s, Dan Nigro, Olivia Rodrigo, Stone, TikTok, Fletcher, ” Crayola, “ It’s, Oh, , ” “, Jimmy Fallon, Astrida Valigorsky, Babe, Kate Bush, Lady, She’s, Marie Antoinette, Governors Ball, Nina Westervelt, Babe ! ”, Fallon, Sasha Colby, who’ve, “ I’m, Gaga’s Organizations: CNN, MTV, YouTube, Atlantic Records, Getty, Roan, Pony, , Sony, Amusement Records, Records, Boston, NPR, , Lady Liberty, New, Governors, Spotify Locations: Missouri, Willard , Missouri, Seattle, Los Angeles, Manhattan, Los Angeles and New York, North America, London, Roan, Queens , New York, Chicago
New York CNN —The battle over “founder mode” versus “manager mode” is one of those manufactured dramas that only a small segment of the world cares about — like going to Davos or Cannes or the Vanity Fair Oscar Party. The idea is that a founder knows their company the way a parent knows their child. Graham doesn’t really define founder mode because every founder and every firm is different. I’ll offer another: Ray Dalio, the founder of Bridgewater, one of the world’s biggest hedge funds. The most successful “founder mode” guys (they’re almost all male, as far as I can tell) seemed to always have a trusted manager by their side.
Persons: CNN Business ’, Paul Graham, Graham, ” Graham, Brian Chesky, Chesky, Steve Jobs, It’s, Graham doesn’t, Jobs, Jeff Bezos, Elon Musk, Nvidia’s Jensen Huang, Ray Dalio, narc, Rob Copeland, , Rich Hagberg, Ashley Herd, Jessica Lessin, , Tim Cook Organizations: CNN Business, New York CNN, Bridgewater, New York Times, LinkedIn Locations: New York, Davos, Cannes, Silicon Valley
Alliance Bernstein is behind the AB US Low Volatility Equity ETF. For comparison, FactSet lists the top holdings for Invesco's Low Volatility ETF as stocks that are traditionally more stable: Berkshire-Hathaway , Coca-Cola and Visa . Archard notes there's still a place for historically less volatile stocks such as consumer staples and financials . For example, FactSet shows that Alliance Bernstein's low-volatility ETF also includes exposure in names including Procter & Gamble and Fiserv . The AB US Low Volatility ETF is up 16% so far this year as of Wednesday's close.
Persons: Bernstein, FactSet, Noel Archard, CNBC's, there's Organizations: Big Tech, Microsoft, Apple, Hathaway, Cola, Visa, Procter & Gamble Locations: Berkshire
Read previewApple's in-app fees are eating away at creator earnings without giving much back in return, according to disgruntled members of the influencer industry. The fee takes a percentage of donations and purchases made through Apple mobile devices, affecting marketers, followers, and creators themselves. Advertisement"There's no denying the positive impact Apple has had on the creator economy," said Lindsey Gamble, who advises influencers on marketing strategies. Patreon is the latest creator platform hit with Apple's in-app fee. Jim Louderback, a creator economy advisor, recently wrote that creators should Boycott Apple in his newsletter, "Inside the Creator Economy."
Persons: , Lindsey Gamble, influencers, Gamble, Apple, Hulu, TikTok, HBO's Max, influencers Rosanna Pansino, Lauren Riihimaki, YouTuber, Patreon, Jim Louderback, Boycott Apple, Louderback, vig Organizations: Service, Substack, YouTube, Facebook, Business, Apple, Mighty Networks, Services, Spotify, Hollywood, Netflix, Hype, Apple's, Google
6:59 a.m.: Citi raises AT & T price target A wave of improving outlook for telecommunications could benefit shares of AT & T , according to Citi. The firm upgraded the telecommunications company to neutral from sell and left its $350 per share price target unchanged. "Although our 2028 EPS is still c16% ahead of consensus, we now see less scope for earnings outperformance 2024/2025," the analyst added. The firm upgraded the home furnishings stock to buy from hold and increased its price target to $156 per share to $148. His price target of $105, down from $122, implies upside of just 8.7% from Tuesday's close.
Persons: Goldman Sachs, Morgan Stanley, Jefferies, Michael Rollins, Rollins, — Brian Evans, Graham Parry, Parry, Sonoma Jefferies, William, Jonathan Matuszewski, Matuszewski, Brian Evans, Goldman Sachs downgrades Morgan Stanley, Richard Ramsden, Ramsden, Fred Imbert Organizations: CNBC, Williams, Citi, AT, JV, Apple, Communications Citi, Communications, Charter Communications, Bank of America downgrades Novartis Bank of America, Novartis, William, Elm, Brands, WSM, Goldman Sachs downgrades Morgan Stanley Investors Locations: U.S, Sonoma, Swiss, William, Tuesday's
Steve Jobs' Apple-1 sells for $945k
  + stars: | 2024-09-11 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSteve Jobs' Apple-1 sells for $945kCNBC's Robert Frank joins 'Power Lunch' to discuss the high priced sell of Apple's first computer.
Persons: Steve Jobs, Robert Frank
Mark Zuckerberg just sold out a stadium
  + stars: | 2024-09-11 | by ( Sarah Jackson | ) www.businessinsider.com   time to read: +1 min
Mark Zuckerberg is apparently selling out stadiums now. The Meta CEO was a guest on a live show of the "Acquired" podcast at Chase Center in San Francisco on Tuesday. Go to newsletter preferences Thanks for signing up! AdvertisementMark Zuckerberg does plenty of podcast interviews, and this week he managed to sell out a stadium doing so. The Meta CEO was the leading guest at a live event Tuesday night by the popular "Acquired" podcast, held at Chase Center in San Francisco.
Persons: Mark Zuckerberg, , Ben Gilbert, David Rosenthal, It's Organizations: Chase Center, Service, Business Locations: San Francisco
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Big price reportsThe U.S. consumer price index for August comes out later today, while the producer price index, which measures prices at the wholesale level, will be released a day later. They're the last major economic data the Federal Reserve will receive — and hence influence its decision on the size of cuts — before its meeting next week. Separately, JPMorgan shares fell 5.19% after the bank's president Daniel Pinto lowered expectations for next year's net interest income.
Persons: Dow, Jamie Dimon, JPMorgan Chase, stagflation, Daniel Pinto Organizations: CNBC, Nasdaq, Continental, BMW, Federal Reserve, JPMorgan, U.S, Apple Intelligence Apple Locations: Basel
Apple is showing off Apple Park Observatory, a new subterranean venue at its headquarters. The event space is designed with natural materials and built into a hillside of Apple Park. You can expect Apple to host visitors and press at the venue during its product launches and events. Design website Dezeen published the first photos of Apple Park Observatory, the company's new subterranean venue that's built into the ground, earlier this week. The event space is nestled in the hillside of Apple Park, the company's $5 billion headquarters designed by Foster + Partners in Cupertino, California.
Persons: , Dezeen Organizations: Apple, Service, Foster + Partners, Business Locations: Apple, J.R.R, Cupertino , California
Huawei launches trifold phone
  + stars: | 2024-09-11 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHuawei launches trifold phoneHuawei launched the first ever so-called trifold phone as it steps up its challenge to Apple in China. CNBC's Arjun Kharpal breaks down the details.
Persons: CNBC's Arjun Kharpal Organizations: Huawei, Apple Locations: China
A debate with bad blood
  + stars: | 2024-09-11 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
When discussing immigration, Harris took a shot at Trump's rallies, saying that people leave them early " out of exhaustion and boredom ." Trump responded with his own attack about Harris' rallies, but his demeanor also took a noticeable turn for the remainder of the debate. And while the two candidates basically don't agree on anything, Harris took one page out of Trump's book. The vice president had some noticeable facial expressions during the debate , something the former president has been known for. The Harris campaign said following the debate the vice president would participate in another one in October .
Persons: , we're, Saul Loeb, Kevin Dietsch, Kamala Harris, Donald Trump, Harris, Trump, Jon Stewart, Insider's Brent D, Griffiths, David Muir, Linsey Davis, Roe, Wade, Elon Musk, Taylor Swift, Walz, Alex Brandon, Rebecca Zisser, Jamie Dimon's, Goldman Sachs, greenlights, Dan Ives, Ives, Brooks Kraft, Apple, Millennials, TikTok doesn't, Antony Blinken, Volodymyr Zelenskyy, Megan Thee, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Business, Trump, White, JPMorgan, Apple, Brooks, Brooks Kraft LLC, Getty, YouTube, EV, UK Foreign, MTV, MTV . Locations: , Ukraine, New York, London
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