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☆ Matt Gaetz withdraws from attorney general consideration
▼ + stars: | 2024-11-21 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

AdvertisementMatt Gaetz announced Thursday his withdrawal from consideration to be US attorney general. He said his confirmation was "unfairly becoming a distraction" to Trump's team. Matt Gaetz has withdrawn himself from consideration to be President-Elect Donald Trump's nominee for attorney general of the United States, the former Florida congressman announced on Thursday afternoon. While the momentum was strong, it is clear that my confirmation was unfairly becoming a distraction to the critical work of the Trump/Vance… — Matt Gaetz (@mattgaetz) November 21, 2024"I greatly appreciate the recent efforts of Matt Gaetz in seeking approval to be Attorney General," Trump wrote on Truth Social. Meanwhile, Gaetz had taken the extraordinary step of resigning from the House after his nomination was announced, ostensibly to allow Florida Gov.

Persons: Matt Gaetz, Trump, Donald Trump's, Gaetz, Vance, Sen, JD Vance, Ohio, Vance …, Matt, Ron DeSantis Organizations: Trump, Administration, Florida Republican, Senate, Justice, Gaetz, Florida Gov Locations: United States, Florida

☆ Trump wants the power to single-handedly choke off government spending. Lawmakers aren't sweating it yet.
▼ + stars: | 2024-11-21 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +7 min

AdvertisementTrump wants the power to refuse to spend federal dollars that Congress has already approved. Impoundment has been floated as one way that Trump could singlehandedly enact DOGE's recommended cuts to the federal budget. Meanwhile, lawmakers on Capitol Hill — including those on the House and Senate Appropriations Committees that control government spending — don't seem concerned about Trump's impoundment power grab just yet. He added that there "would be a problem" if Trump tried to impound funding approved by both chambers of Congress. AdvertisementWhat Trump could do with such sweeping powersEven if Congress won't grant Trump impoundment powers, he has another potentially more attractive avenue — the courts.

Persons: He's, Nixon, Elon Musk, Vivek Ramaswamy, Donald Trump, doesn't, it's, Richard Nixon, Trump, DOGE's, Republican Sen, Shelly Moore Capito, haven't, I've, Robert Aderholt, Rosa DeLauro, Mark Amodei, Joe Morelle, appropriators aren't, Tom Cole of Oklahoma, Mark Paoletta, there's, Daniel Schuman, Schuman, shouldn't, Vance, Karoline Leavitt Organizations: Trump, Congress, Department of Government, Capitol, Committees, Republican, West Virginia, Alabama, Democrats, Republicans, Senate, tinker, Nevada Republican, Democratic, GOP, The Washington, Trump administration's Office, Management, American Governance Institute Locations: West, Connecticut, Nevada, New York

☆ Stocks making the biggest moves after hours: Intuit, SL Green, Gap and more
▼ + stars: | 2024-11-21 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Intuit — Shares of the financial software company fell almost 5% despite an earnings report that beat expectations. Intuit reported $2.50 in adjusted earnings per share on $3.28 billion of revenue for its fiscal first quarter. SL Green Realty — The commercial real estate stock dipped more than 1% after SL Green announced a $400 million stock sale . Ross reported $5.07 billion in revenue, below the $5.15 billion expected by Wall Street. Analysts surveyed by LSEG were looking for earnings of 38 cents per share and revenue of $357 million.

Persons: LSEG, Ross, NetApp Organizations: Intuit —, Intuit, Green Realty, SL Green, Old Navy, Ross, Wall

☆ DOGE wants to trim a $500 billion list of federal 'zombie' programs that includes veterans' healthcare, Pell grants, and NASA
▼ + stars: | 2024-11-21 | by ( Ayelet Sheffey | Andy Kiersz | ) www.businessinsider.com time to read: +4 min

AdvertisementElon Musk and Vivek Ramaswamy wrote an op-ed in The Wall Street Journal detailing their vision for cutting government costs. Elon Musk and Vivek Ramaswamy are eyeing recommendations to trim a list of government programs that include veterans' healthcare, childcare grants, and NASA. The programs' funding authorizations have lapsed because they were established or renewed by legislation authorizing Congress to allocate funds for a set number of years. Advertisement"If the spending isn't authorized, then we shouldn't be spending it," Ramaswamy wrote on X on Thursday. GOP Rep. Cathy McMorris Rodgers introduced legislation in 2016 — the USA Act — which would sunset what she called "zombie government spending programs" in three years and establish a commission to review all mandatory spending programs.

Persons: Elon Musk, Vivek Ramaswamy, Donald Trump's, Pell, Ramaswamy, NASA's, Elon Musk's, Cathy McMorris Rodgers, McMorris Rodgers Organizations: NASA, of Government, Congress, Congressional, CBO, Pell Grants, National Institutes of Health, Federal Bureau of Investigation, Ramaswamy, Corporation for Public Broadcasting, Elon, Elon Musk's SpaceX, Planetary Society, GOP, Treasury Department, Social Security Administration, Department of Health, Human Services

☆ Gap shares surge as it raises guidance, touts 'strong start' to holiday
▼ + stars: | 2024-11-21 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

As soon as the weather turned around, sales "rebounded" and the holiday shopping season is off to a "strong start" so far, said Dickson. The brand has seen four straight quarters of positive comparable sales and is benefiting from better marketing and product, the company said. Banana Republic: The trendy workwear line grew sales 2% to $469 million while comparable sales fell 1%, a bit worse than the 0.8% drop that StreetAccount had expected. Athleta: The athleisure arm of Gap's empire grew sales by 4% to $290 million while comparable sales were up 5%. In the year-ago period, comparable sales were down 19% at Athleta.

Persons: Richard Dickson, Dickson, We've, he's, StreetAccount, Alo Yoga, Chris Blakeslee Organizations: Old Navy, Fulton, Hurricanes, Navy, LSEG, CNBC Locations: Downtown Brooklyn, New York City, Banana Republic, StreetAccount ., Athleta

☆ Citadel's Ken Griffin says Trump's tariffs could lead to crony capitalism
▼ + stars: | 2024-11-21 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Ken Griffin, chief executive officer and founder of Citadel Advisors LLC, speaks during an Economic Club of New York event in New York, US, on Thursday, Nov. 21, 2024. Citadel CEO Ken Griffin issued a warning against the steep tariffs President-elect Donald Trump vowed to implement, saying crony capitalism could be a consequence. "I am gravely concerned that the rise of tariffs puts us on a slippery slope towards crony capitalism," the billionaire investor said Thursday at the Economic Club of New York. Crony capitalism is an economic system marked by close, mutually advantageous relationships between business leaders and government officials. At the same event, Griffin also said that he's not focused on taking Citadel Securities public in the foreseeable future.

Persons: Ken Griffin, Donald Trump, Griffin, Trump, he's, We're Organizations: Citadel Advisors, Economic, of New, Citadel, Citadel Securities Locations: of New York, New York, America, Washington

☆ Elon Musk's DOGE is looking to Argentina for inspiration to slash public spending
▼ + stars: | 2024-11-21 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +5 min

Both men admire Javier Milei, the Argentine leader elected on a pledge to slash the state. About a year ago, standing in front of a whiteboard with a gleam in his eye, Javier Milei started pulling apart Argentina's government. Javier Milei pulls apart a chart of Argentina's state in a video published on September 9, 2023. AdvertisementHarsh medicineHis measures helped tame a crisis: Argentina's inflation was 25.5% when Milei took office, and as of October, it was 2.7%. Argentinians have taken to the streets to protest against Javier Milei's economic policies since his election.

Persons: Elon Musk, Vivek Ramaswamy, Javier Milei, Milei, Lex Fridman, — Milei, Maria Victoria Murillo, Argentinians, Javier, Luciano Gonzalez, Donald Trump's, Trump, Ramaswamy, Musk Organizations: Argentine, Ministry, of Environment, Sustainable, Government, Social Security, US, Institute of Latin American Studies, Columbia University, Anadolu, Getty Images Kimberley, Economics, America, Republicans Locations: Milei, Argentine, Argentina, Mar, Buenos Aires

☆ Elon Musk says he's had little to do with Trump's cabinet picks — he just likes 'spending time' with the man
▼ + stars: | 2024-11-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

But the Tesla and SpaceX CEO said he's had little input on Trump's Cabinet picks. Elon Musk says he's had little input on President-elect Donald Trump's cabinet picks. He was a major contributor to Trump's campaign, spending just under $119 million on his pro-Trump political action committee, America PAC. Musk, according to multiple media reports, has joined Trump's calls with Ukrainian President Volodymyr Zelenskyy and Google CEO Sundar Pichai. Lutnick, Musk wrote in an X post on November 16, "will actually enact change," compared to another candidate, hedge fund CEO Scott Bessent.

Persons: Elon Musk, Donald Trump, he's, Musk, Donald Trump's, Haven't, Robert F, Kennedy Jr, cott, ott Organizations: SpaceX, Cabinet, New York Post, Trump's, UFC, Trump, Madison Locations: Lago, Palm Beach , Florida, usk

☆ It looks like Donald Trump will get to fly on his cut-price Air Force One after all
▼ + stars: | 2024-11-21 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

AdvertisementDonald Trump renegotiated a deal with Boeing for a new Air Force One in his first term as president. Following years of delays, billions of dollars, and his return to the presidency, Donald Trump is set to fly on the new Air Force One after all. In 2015, the Air Force again chose Boeing to build two new planes, this time based on the larger 747-8. The VC-25B project is known as the "Next Air Force One." Courtesy of the Air ForceWhile the government is paying $3.9 billion for the new jets, Boeing has suffered from the Next Air Force One.

Persons: Donald Trump, Trump, Dennis Muilenburg, Donald J, Boeing's, Joe Biden, Kennedy, Dave Calhoun, wasn't Organizations: Boeing, Air Force One, Next Air Force, Air Force, Force, Trump, ABC, Trump Shuttle, Reuters, Street Journal, Business Locations: Russian, United States

☆ Biden is scrambling to change the war in Ukraine before Trump takes over
▼ + stars: | 2024-11-21 | by ( Thibault Spirlet | Jake Epstein | ) www.businessinsider.com time to read: +8 min

AdvertisementJoe Biden is taking last-minute measures to support Ukraine before leaving things to Donald Trump. He finally let Ukraine use US missiles to strike inside Russia and approved anti-personnel mines. These moves appear aimed at changing the war before Trump — who seems to want most to end the conflict as soon as possible — takes office. Biden, whose administration has sent billions of dollars in weaponry to Ukraine, recently lifted long-held restrictions on Kyiv's use of American-made longer-range missiles to strike targets inside Russia. And during a press briefing that same day, State Department spokesperson Matthew Miller said the Biden administration moved to forgive about $4.7 billion in US loans to Ukraine.

Persons: Joe Biden, Donald Trump, Donald Trump's, Trump, Biden, Diego Herrera Carcedo, Antony Blinken, Matthew Miller, Mick Ryan, They've, Volodymyr Zelenskyy, Ukraine's, Abrams, Mark Temnycky, Ben Friedman, Zelenskyy, Oleg Petrasiuk, Ryan, hasn't, JD Vance, Shawn Ryan, Abishur Prakash, Putin, Prakash Organizations: White, Army Tactical Missile Systems, Shadow, Brigade, Getty, State, Australian Army, White House, Washington Post, Washington, Council's Eurasia Center, Defense, 24th Mechanised Brigade, AP Ryan, Trump, Anadolu, Kyiv Locations: Ukraine, Russia, Russia's, Bryansk, Soviet, Ukraine's Donetsk, Anadolu, Russia's Kursk, Chasiv Yar, Australian, Western, Russian, Toretsk, Donetsk, Mar, Lago , Florida, Toronto, Canada, British, Ukrainian, Dnipro, Europe

☆ How AI regulation in California, Colorado and beyond could threaten U.S. tech dominance
▼ + stars: | 2024-11-21 | by ( Rachel Curry | ) www.cnbc.com time to read: +6 min

California Governor Gavin Newsom vetoed California's bill at the end of September but signed into law another bill which requires transparency in generative AI systems. "A lot of the privacy risks associated with AI can be tackled through a comprehensive data privacy regime," she said. The U.S. has historically approached data privacy with decentralized, state-by-state legislation, which is where AI regulation is currently headed. Regarding Colorado's successful AI bill, Maroney wrote on Facebook, "It is unfortunate that Connecticut chose not to join Colorado as a leader in this space. Even a model approach, if done wrong, could pose a major risk to the U.S. "Everybody's looking at California, especially when it comes to tech," Elgendy said.

Persons: Scott Weiner, Wiener, Gavin Newsom, California's, Tatiana Rice, Jonas Jacobi, Mohamed Elgendy, Elgendy, Rice, Robert Rodriguez, James Maroney, Maroney Organizations: Conference, AI Alliance, Washington D.C, U.S ., European Union AI, Privacy, Data, American, White, Office of Science, Technology, Democratic, Colorado Senate, Democratic Connecticut State, Facebook, Colorado Locations: California, San Francisco, Washington, Puerto Rico, U.S, U.S . Virgin Islands, Colorado, Silicon, Connecticut

☆ Any combination of the Treasury Secretary candidates is the A team, says Galaxy's Novogratz
▼ + stars: | 2024-11-21 | 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 EmailAny combination of the Treasury Secretary candidates is the A team, says Galaxy's NovogratzMichael Novogratz, Galaxy founder and CEO, joins 'Squawk Box' to discuss the progression of gold to Bitcoin, the chief executive's thoughts on Trump's nomination for Treasury Secretary, and much more.

Persons: Galaxy's Novogratz Michael Novogratz Organizations: Galaxy

☆ After a stinging election defeat, the Democrats' next big race kicks off: From the Politics Desk
▼ + stars: | 2024-11-20 | by ( The Politics Desk | ) www.nbcnews.com time to read: +12 min

After a stinging election defeat, the race to lead the DNC kicks offBy Natasha Korecki and Alex Seitz-WaldTwo weeks after suffering another stinging defeat to Donald Trump, Democrats are in the throes of dissecting what went wrong and figuring out their path forward. Martin O’Malley, a onetime presidential candidate and the commissioner of the Social Security Administration, kicked off the race by entering the fray. Minnesota Democratic Party Chair Ken Martin, a DNC vice chair and leader of the Association of State Democratic Committees, followed by formally announcing his candidacy Tuesday. Still looming out there: Wisconsin Democratic Party Chair Ben Wikler, who has developed a reputation as a prodigious fundraiser and field organizer. Read more → ☑️ Latest race calls: Democratic Rep. Marcy Kaptur defeated Republican Derek Merrin in Ohio’s competitive 9th District, NBC News projected.

Persons: Natasha Korecki, Alex Seitz, Wald, Chuck Todd, Donald Trump, Joe Biden, Jaime Harrison, Martin O’Malley, Ken Martin, Martin, O’Malley, Chuck Rocha, Sen, Mallory McMorrow, Ben Wikler, “ Ben, That’s, Rahm Emanuel, Barack Obama, Emanuel, Adam Parkhomenko, Hillary Clinton’s, “, ” Parkhomenko, James Zogby, it’s, Howard Dean, Obama —, Chuck Todd Here’s, Trumpism, Trump, wasn’t, Harris, Biden, Read, Chuck → ➡️, Matt Gaetz, Lloyd Austin, Pete Hegseth, Linda McMahon, Matt Whitaker, 🗞️ Organizations: NBC, White House, Capitol, Democratic National Committee, DNC, Maryland Gov, Social Security Administration, Minnesota Democratic, Association of State Democratic Committees, Democratic, Politico, Republican, Democratic National Convention, Wisconsin Democratic, Chicago, NBC News, Arab American Institute, America, GOP, Pentagon, “ DEI, Biden, Chuck → ➡️ Trump, Wrestling Entertainment, Education Department, Former, Atlantic Treaty Organization Locations: Michigan, U.S, Japan, Oklahoma

Voters in California have narrowly rejected a ballot measure that would have gradually increased the minimum wage in the state to $18 per hour, NBC News projected Wednesday. It’s the first time a ballot measure proposing to raise the statewide minimum wage has failed nationwide since 1996. Some cities within New York also implement a minimum wage of $16 per hour, while Washington state’s minimum wage is $16.26 per hour. The defeat is the first time in 28 years that a ballot measure to increase a state minimum wage was defeated. Meanwhile, ballot measures in two other states to increase the minimum wage overwhelmingly passed this month.

Persons: It’s, “ CalChamber, Jennifer Barrera, Gavin Newsom, Newsom Organizations: NBC News, U.S, California Chamber of Commerce, Democratic Gov, Washington, Voters, NBC Locations: California, New York, Missouri, Montana, Alaska

The filing said those claims are "unambiguous violations of the Consent Injunction, and the Court should hold him in civil contempt." A representative for Giuliani, Ted Goodman, called the motion "a dishonest and duplicitous attack meant to deprive Mayor Rudy Giuliani of his First Amendment right to freedom of speech." "The ongoing lawfare against Mayor Giuliani must end," he said in a statement. Giuliani was found liable for defaming the pair during his efforts on Trump's behalf to overturn the results of the 2020 election. Moss and Freeman's attorneys urged the judge to stick with the current trial date, which was set last month.

Persons: Donald Trump, Rudy Giuliani, Ruby Freeman, Shaye Moss, Giuliani, he'll, —, Ted Goodman, Mayor Giuliani, Freeman, Moss, Lauren Bacall, Aaron Nathan, District Judge Lewis Liman, Plaintiff, Trump's Jan Organizations: Washington , D.C, America's, Mayor, Benz, U.S, District Locations: Georgia, Washington ,, New York, Florida

President-elect Donald Trump Wednesday named former Acting Attorney General Matt Whitaker as his pick for the next ambassador to the North Atlantic Treaty Organization (NATO), a key alliance that Trump derided for years. He served just three months in the position until Bill Barr was confirmed as attorney general. Before becoming acting attorney general, Whitaker served as chief of staff to Sessions when he was attorney general. Trump has long criticized NATO, accusing European allies of not contributing enough toward defense spending. In February, Hillary Clinton warned that Trump would seek to withdraw the U.S. from NATO if he were to be re-elected.

Persons: Donald Trump, Matt Whitaker, Trump, Matt, Whitaker doesn't, Whitaker, Jeff Sessions, Bill Barr, George W, Bush, Ursula von der Leyen, Hillary Clinton, JD Vance, Putin Organizations: Donald Trump Wednesday, Atlantic Treaty Organization, NATO, Patriot, NATO Allies, AMERICA, Justice Department, Trump, Twitter, Sessions, Southern, Southern District of, Center of Law & Justice, Policy Institute, Union, NBC, Fox News, Fox Business, Ukrainian, U.S Locations: States, Southern District, Southern District of Iowa, Russia, Europe, Ukraine, U.S, Poland

Donald Trump's attorneys are demanding the judge who presided over his New York hush money trial and conviction immediately throw out the case, saying it would be "uniquely destabilizing to the country" otherwise. The letter also cited presidential immunity as a reason to dismiss the case, and maintained Trump is already protected by it. "Just as a sitting President is completely immune from any criminal process, so too is President Trump as President-elect," the letter said. The attorneys have argued he can't be sentenced while in office because it would interfere with his constitutional duties. Trump was convicted earlier this year on 34 counts of falsifying business records related to a hush money payment made to adult film actor Stormy Daniels.

Persons: Donald, Trump’s, Todd Blanche, Emil Bove, Judge Juan Merchan, “, Trump, Stormy Daniels, Alvin Bragg's Organizations: Trump, Justice Department's Locations: York, Manhattan

VIENTIANE, Laos — Women and racial diversity are vital to the strength of U.S. armed forces, outgoing Defense Secretary Lloyd Austin said in an exclusive interview with NBC News as he prepares to shortly exit the top military post after four years. “I would tell you that, you know, our women are the finest troops in the world. Our military is going to remain a diverse military," Austin said. Austin did not weigh in on what he thinks about Trump's choice of Hegseth to lead the Department of Defense. Austin, a four-star general who was previously commander of U.S. Central Command, was appointed as Secretary of Defense by President Joe Biden and was sworn in on Jan. 22, 2021.

Persons: Lloyd Austin, “, ” Austin, Donald Trump’s, Pete Hegseth, Hegseth, ”, Austin, Trump, Biden, Vladimir Putin, —, we've, Joe Biden, Lester Holt Organizations: NBC News, Defense, Army National Guard, Pentagon, Senate, Republicans, Department of Defense, ., Korean, U.S . Central Command, NBC Locations: VIENTIANE, Laos, Iraq, Afghanistan, United States, Ukraine, Russia, U.S, Russia's Kursk, Jan

WASHINGTON — Members of the House Ethics Committee will meet behind closed doors Wednesday afternoon to discuss whether to publicly release a report detailing their sweeping investigation into former Rep. Matt Gaetz, President-elect Donald Trump’s pick for attorney general. Several Republicans and Democrats in the Senate have said they want to review the House report before a Judiciary Committee confirmation hearing for Gaetz next year. She argued that there is precedent for the Ethics Committee to publish reports after members of Congress have resigned. If the committee declines to make the Gaetz report public, any House member can try to force a vote to release it. In September 1996, House Democrats tried to force the Ethics Committee to release a report from an outside counsel about its investigation of then-Speaker Newt Gingrich, R-Ga.

Persons: Matt Gaetz, Donald Trump’s, Gaetz, Mike Johnson, Trump, “ I’ve, ” Johnson, “ Matt Gaetz, —, Michael Guest, Susan Wild, Joel Leppard, Leppard, ”, JD Vance, Pete Hegseth, Bill Boner, Boner, Boner’s, Buz Lukens, Newt Gingrich Organizations: WASHINGTON, Republicans, Democrats, Justice Department, NBC News, Trump, Capitol, Cabinet, Senate, Congress, “, Committee Locations: Florida, Nashville, Ohio

Of course, these basic rules of political decorum are ones Donald Trump has rarely followed. He’s been accumulating political capital, and his victory only gives him an opening to accumulate more ... if he chooses to. On some level, I accept the notion that one person’s revenge is another person’s “reform,” so I’m sure Trump could argue he’s appointing reformists. What will ultimately matter is whether these folks can govern like reformers or end up simply as conduits for Trump’s revenge. Here’s the political problem Trump is creating for himself: He’s taking full ownership of the entire bureaucracy now.

Persons: Donald Trump, He’s, Trump, acquiesce, Matt Gaetz, Pete Hegseth, Robert F, Kennedy Jr, Tulsi Gabbard, let’s, Nancy Mace's, Hegseth, “, wasn’t, Harris, Joe Biden, Biden, I’ve, didn’t, Barack, Biden’s Organizations: —, Justice Department, Fox, Defense Department, Department of Health, Human Services, GOP, Pentagon, “ DEI, Biden, Democratic, Trump Locations: Russia, Oklahoma, Afghanistan, overreach

☆ Trump names Linda McMahon as his pick for education secretary
▼ + stars: | 2024-11-20 | by ( Zoë Richards | Zoë Richards Is A Politics Reporter For Nbc News. | ) www.nbcnews.com time to read: +2 min

President-elect Donald Trump on Tuesday named Linda McMahon, a former World Wrestling Entertainment executive who served in the first Trump administration, as his pick to lead the Education Department. Before joining the first Trump administration, McMahon briefly served on the Connecticut State Board of Education in 2009, and made unsuccessful bids in 2010 and 2012 for U.S. Senate seats in the state. CNN first reported on McMahon as Trump’s pick for education secretary. McMahon is also the latest Cabinet pick from Trump’s transition team. Earlier Tuesday he named Cantor Fitzgerald CEO Howard Lutnick, who is co-chairing his transition alongside McMahon, as his choice for commerce secretary.

Persons: Donald Trump, Linda McMahon, Trump, McMahon, ” McMahon, Vince McMahon, Elon Musk, Doug Collins of, Lee Zeldin, Cantor Fitzgerald, Howard Lutnick Organizations: Wrestling Entertainment, Education Department, Senate, Small Business Administration, Trump America, Action, Connecticut State, of Education, U.S, CNN, Inc, World Wrestling Entertainment, Fox News, “ Department, Government, SpaceX, America, Policy Institute, Environmental Protection Agency Locations: Connecticut, Texas, Doug Collins of Georgia, New York

☆ Corporate insiders are selling shares at a record pace in the fourth quarter
▼ + stars: | 2024-11-20 | by ( Nick Wells | ) www.cnbc.com time to read: +4 min

Corporate insiders are taking advantage of the stock market's postelection boom to all-time highs, unloading shares at record levels. The data includes trades made under preplanned 10b5-1 trading plans. Plus, many 10b5-1 trading plans are price-triggered meaning that executives select levels at which to sell shares. Executives at private education firm Grand Canyon Education have sold an aggregate $2.3 million worth of shares in the fourth quarter, per Verity. Nucor CEO Leon Topalian sold $1.9 million in shares the day following the election at an average price of $169.11.

Persons: preplanned, Ben Silverman, Silverman, Verity, Brian Mueller, Reid Hoffman's, Donald Trump's, Tump, Alexander Karp, Daniel D'Aniello, Carlyle, Tesla, Kathleen Wilson, Thompson, Robyn Denholm, Phillip Juhan, Eric Swider, Leon Topalian, Holden Lewis, Daniel Florness, —, Jesse Pound Organizations: Education, Canyon Education, Partners, Aurora, Big, Carlyle Group, Trump Media, Securities, Exchange

☆ Act now for $7,500 EV tax credit: There's 'real risk' Trump will axe funding in 2025, lawyer says
▼ + stars: | 2024-11-20 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Chris Unger | Ufc | Getty ImagesThere's considerable uncertainty over the contents of a future Republican tax package and the fate of the EV credit, experts said. Repealing all the IRA's green energy tax credits, including the EV credit, would offset that cost by about $921 billion, it said. She was getting ready to buy one thanks to the $7,500 EV credit, which made the vehicles more affordable, she said. To wait and buy in 2025 is "too big of a gamble" given Trump's antipathy toward the EV credit, she said. There's no question there's real risk in the EV credit going away.

Persons: Donald Trump, Jamie Wickett, Hogan Lovells, Wickett, Joe Biden, Trump, Chris Unger, Laura, Hogan, —, wouldn't, it's, Ingrid Malmgren, Malmgren Organizations: Digitalvision, Getty, Biden, Republicans, Capitol, IRA, Elon, UFC, Madison, Garden, Ufc, Security, Tax, Chrysler Pacifica, Local, Plug, U.S . Treasury Department, Treasury Locations: New York, Charlotte , North Carolina

☆ What Trump's return to the White House could mean for global bond yields
▼ + stars: | 2024-11-20 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Bloomberg | Bloomberg | Getty ImagesDonald Trump's U.S. election victory has ratcheted up concerns about higher prices, prompting strategists to rethink the outlook for global bond yields and currencies. Trump's return to the White House is seen as likely to throw a wrench in the Federal Reserve's rate-cutting cycle, potentially keeping an upward bias on Treasury yields. Bond yields tend to rise when market participants expect higher prices or a growing budget deficit. "Trump's election advances both possibilities as a trade war and increased fiscal spending work at cross purposes," he added. Germany's 10-year bond yield, the benchmark for the euro zone, stood at 2.337% on Wednesday, marginally lower for the session.

Persons: Donald Trump, Donald Trump's, Alim Remtulla, Remtulla, Kamala Harris, there's, Trump, There's, Shannon Kirwin, Kirwin, Sameer Goel, CNBC's, doesn't, Goel, MUFG Organizations: Bloomberg, Getty, EFG, Fed, CNBC, Treasury, Democratic, New York Stock Exchange, China News Service, Morningstar, European Union, Deutsche Bank, Trump, U.S, U.S ., Singapore, Malaysian, South Korean, ING Locations: Greensboro , North Carolina, Europe, United States, New York City, U.S, Mexico, Asia, China

☆ U.S. and Asia are 'our top focus' in global equities: Strategist
▼ + stars: | 2024-11-20 | 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 EmailU.S. and Asia are 'our top focus' in global equities: StrategistAnthony Raza of UOB Asset Management explains why his group is positive on U.S. and Asian equities, despite challenges from incoming president Donald Trump's potential policies.

Persons: Anthony Raza, Donald Trump's Organizations: U.S, UOB, Management Locations: Asia

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