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☆ Ride-sharing giants Uber, Lyft jump after Tesla's 'toothless taxi' fails to excite investors
▼ + stars: | 2024-10-11 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Klaudia Radecka | Nurphoto | Getty ImagesTesla 's hyped robotaxi unveiling posed a threat to Uber 's ride-sharing aspirations, but it has turned into a boon for the stock instead. That is a massive turnaround for Uber's stock, which is now up nearly 22% over the past month and about 38% for the year. "We believe this helps minimize the ongoing overhang on UBER's stock from TSLA's aspirations in the robotaxi space." Although Tesla appears committed to developing its robotaxi fleet without partnering with existing ride-sharing platforms, Colantuoni expects it could ultimately have to look into this option. Tesla "potentially underappreciates the obstacles to scaling a robotaxi fleet" and could struggle to scale its fleet operations without offering access to demand through Uber and Lyft, he said.

Persons: Klaudia, Tesla, Uber, Jefferies, John Colantuoni, TSLA, Colantuoni, Scott Brauer Organizations: Nurphoto, Lyft, Nasdaq, Jefferies, Tesla, Bloomberg, Getty Locations: Krakow, Poland, Seattle , Washington

☆ Urban Outfitters admits it doesn’t know how to sell to Gen Z. Now it wants to pull off an Abercrombie-like turnaround
▼ + stars: | 2024-10-11 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +6 min

Urban Outfitters, the young adult retailer known for its alternative, vintage-inspired styles, learned this the hard way. Urban Outfitters is now staging a turnaround, with the ambition of finding the success of rivals like Abercrombie & Fitch. But while Urban Outfitters may be trying to pull off a turnaround at the same scale is Abercrombie’s, the action points of both differ. Urban Outfitters, meanwhile, has maintained its youthful appearance without doing enough to market toward the high schoolers and college students of today. Urban Outfitters did not return a request for comment on the marketing strategy behind the lower prices.

Persons: ” Shea Jensen, Jensen, —, ” Simeon Siegel, “, ” Siegel, Brandon Bell, Fitch, Jacqueline Babb, Abercrombie, ” Jensen, Urban, Z, Price Organizations: New, New York CNN, Gen, Urban Outfitters, Abercrombie, Fitch, Urban Outfitters Brand, Free People, BMO Capital Markets, Getty, Urban, Northwestern University, CNN, Netflix Locations: New York, millennials, North America, Barton, Austin , Texas, today’s

☆ We're hiking our Wells Fargo price target after the stock surged on earnings
▼ + stars: | 2024-10-11 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Wells Fargo reported results before Friday's opening bell. WFC YTD mountain Wells Fargo YTD Shares of Wells Fargo surged 6% on the release to more than $61. Wells Fargo Why we own it : We bought Wells Fargo as a turnaround story under CEO Charlie Scharf. We come away from the call feeling good not only about Wells Fargo's setup for next year. A resurgence in Wall Street dealmaking — both mergers and acquisitions and initial public offerings — will benefit Wells Fargo.

Persons: Wells, Wells Fargo, That's, Charlie Scharf, He's, Scharf, Charles Scharf, we've, Morgan Stanley, NII, Jim Cramer's, Jim Cramer, Jim Organizations: Investors, Wells, Federal Reserve, Bank of America, Citigroup, buybacks, Management, CNBC Locations: LSEG, Wells, Wells Fargo, reinvest, U.S, NII

☆ Ratan Tata, who put India’s Tata Group on the global map, dies at 86
▼ + stars: | 2024-10-10 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +4 min

Ratan Tata, the former Tata Group chairman who put a staid and sprawling Indian conglomerate on the global stage with a string of high-profile acquisitions, has died, the Tata Group said in a statement late on Wednesday. Ratan Tata "was a visionary business leader, a compassionate soul and an extraordinary human being," Indian Prime Minister Narendra Modi said on social media platform X. He founded telecommunications firm Tata Teleservices in 1996 and took IT firm Tata Consultancy Services, the group's cash cow, public in 2004. Tata Motors then acquired British luxury auto brands Jaguar and Land Rover from Ford Motor Co in 2008 for $2.3 billion. The Tata Group said Mistry had failed to turnaround poorly performing businesses while Mistry accused Ratan Tata, who was chairman emeritus of the conglomerate, of interfering and creating an alternate power center at the group.

Persons: Ratan Tata, Ratan, Narendra Modi, Telco, J.R.D, Tata, Tata Teleservices, Tetley, Ratan Tata's, Cyrus Mistry, Shapoorji Pallonji, Mistry, Ola Organizations: Tata Group, Ratan Naval Tata, Cornell University, Tata, Tata Motors Ltd, Tata Steel Ltd, National Radio & Electronics Company, Tata Consultancy Services, Stanford Graduate School of Business, Corus, Tata Motors, Rover, Ford Motor Co, India —, Tata Sons, Urban Company Locations: India, Dutch, Indian

☆ Here are Thursday's biggest analyst calls: Nvidia, Microsoft, Netflix, CVS, Honeywell, Nike, AIG, Sunnova & more
▼ + stars: | 2024-10-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +14 min

Barclays upgrades CVS to overweight from equal weight Barclays said the stock is a "new margin story." JPMorgan downgrades Honeywell to neutral from overweight JPMorgan said it's downgrading the stock after 15 years with an overweight rating. UBS upgrades Tronox to buy from neutral UBS said it's bullish on the chemical manufacturer. "We upgrade shares of EVGO from Neutral to Buy, following the $1.05bn DOE loan conditional commitment announced last week. "Our bullish view of AIG reflects its outsized EPS growth, lower exposure to risks facing commercial lines carriers (casualty reserves and higher cat loads), high capital flexibility, and attractive valuation."

Persons: Morgan Stanley, Goldman Sachs, Goldman, it's bullish, Jefferies, TD Cowen downgrades, Cowen, Bernstein, Brinker, Kevin Hochman, Truist, it's, BIRK, Cantor Fitzgerald, Mara, Cantor, MARA, Wolfe, Google's, Satya Nadella, Lucas Jackson Organizations: Nvidia, Netflix, Barclays, JPMorgan, Honeywell, Microsoft, UBS, TD Cowen downgrades Pepsi, U.S, Department of Energy, DOE, RBC, PayPal, Cirrus, Bank of America, underperform Bank of America, Nike, Mara Holdings, AIG, DOJ, Google, Reuters Locations: EVGO, EAT's, LHX, New York City

Ian Read, chairman and chief executive officer of Pfizer Inc., gestures as he speaks during a panel session at the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 17, 2017. Activist Starboard Value accused Pfizer of threatening litigation against the company's former CEO and CFO in order to get them to break ranks with the investor's nascent turnaround campaign at the pharmaceutical giant. Pfizer shares slipped overnight as news of the two executive's breakaway emerged, and opened down roughly 2.5% in Thursday morning trading. Starboard's Smith said that when the activist approached the two executives, both expressed "concerns" about Pfizer's direction under Bourla and offered to help Starboard in its turnaround campaign. Starboard's Smith and Bourla are slated to meet in person next week, Smith said, confirming earlier reports.

Persons: Ian Read, Pfizer, Jeff Smith, Frank D'Amelio's, Smith, Albert Bourla, Starboard's Smith Organizations: Pfizer Inc, Economic, Pfizer Locations: Davos, Switzerland

The financial firm upgraded the athletic apparel stock to a buy rating from hold and raised its price target to $97 from $83. — Lisa Kailai Han 6:48 a.m.: Goldman Sachs trims Microsoft price target Goldman Sachs is still bullish shares of Microsoft , despite a minor price target adjustment. However, she accompanied the move by lifting her price target to $80 from $75. Analyst Andrew Mok accompanied the rating change by lifting his price target to $82 from $63. To be sure, he did raise his price target by $10 to $235, implying upside of nearly 10%.

Persons: Joseph Civello, Civello, Caitlin Clark, Lisa Kailai Han, Goldman Sachs, Kash Rangan, Rangan, Bernstein, Harshita Rawat, Venmo, Cash, Rawat, — Lisa Kailai Han, Shagun Singh, Singh, Medtronic, Andrew Mok, Mok, Stephen Tusa, Tusa, divestitures, YTD, Fred Imbert Organizations: CNBC, Barclays, JPMorgan, Honeywell International, Nike, Microsoft, PayPal, RBC, RBC Capital Markets, CVS, Aetna, Honeywell, Dow Jones Industrial Locations: buybacks, Wednesday's

☆ Inside ESPN's 3-part plan to jump-start its lagging podcast business
▼ + stars: | 2024-10-10 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

"We have a lot of work to do on podcasting," Burke Magnus, ESPN's president of content, said in a recent interview with Business Insider. Cowherd now works with Golden State Warriors star Draymond Green and — ironically — current ESPN personality Shannon Sharpe. Sharpe isn't the only ESPN star with a podcast that's not affiliated with ESPN. Related storiesESPN's 3-part turnaround plan for podcastsIn Magnus' mind, there are three main ways ESPN can make its podcast business more successful. Advertisement"If we rope all three of those things together, I think we can have a meaningful podcasting business in the not-too-distant future," Magnus said.

Persons: Burke Magnus, —, who've, ESPN's, Magnus, Bill Simmons, Colin Cowherd, Cowherd, Draymond, Shannon Sharpe, Sharpe isn't, Stephen A, Smith — who's, Shams Charania, Charania, he'll, Zach Lowe Organizations: ESPN, Service, Business, ESPN Radio, Spotify, Fox Sports, Golden State Warriors, NBA Locations: ESPN's

☆ Here's what investors need to know after GM's capital markets day
▼ + stars: | 2024-10-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

GM's investor day showcased many of the company's current achievements, but did not provide much insight on strategy," Bernstein analyst Daniel Roeska wrote Wednesday in an investor note. "GM's Investor Day yesterday didn't provide much in the way of sharp shifts in strategy. Through the first half of 2024, GM earned $8.3 billion in EBIT-adjusted and generated $6.4 billion in adjusted automotive free cash flow. GM's 2024 financial guidance includes anticipated capital spending of between $10.5 billion and $11.5 billion. GM's operations in China have experienced a decade-long slide in earnings, and executives said they are discussing restructuring options with their China-based partners.

Persons: Rebecca Cook, Mary Barra, Mark Reuss, Stellantis, Bernstein, Daniel Roeska, Dan Levy, John Murphy, Levy, Paul Jacobson, Jacobson, GM's, we're, Barra, Ultium, Kurt Kelty, " Jacobson, Reuss, that's, you'll, Tesla's Organizations: General Motors, Reuters DETROIT —, GM, Ford Motor, Ford, Barclays, BofA Securities, Wall Street, EV tailwinds, North America, LG Energy, ICE, GMC, China Locations: Detroit, Spring Hill , Tennessee, North, Cruise, China

☆ China's property stimulus raises optimism — but more steps are needed for a sectoral turnaround
▼ + stars: | 2024-10-09 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

China's property stimulus measures delivered a modest boost to the market, but they are not enough to turn around the troubled sector, according to analysts. Home sales ticked up in some cities during China's week-long holiday, as stimulus measures boosted homebuyers' sentiment, a report by research group China Index Academy showed. Average daily sales in Beijing jumped 81%, in terms of floor area, compared to the same holiday period the year before. Last year's Golden Week holiday was between Sept. 29 and Oct. 6. The average daily sales figure stood at 107,000 square meters this year, the report showed, against 177,000 square meters in 2021, 158,000 square meters in 2022, and 145,000 square meters in 2023.

Persons: William Wu, Shen Meng Organizations: China Index Academy, Beijing, Daiwa, Chanson, CNBC, CIA Locations: Shanghai, Beijing, China, Guangzhou, Shenzhen

☆ These dividend growers are also on Goldman Sachs' buy list
▼ + stars: | 2024-10-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Goldman Sachs recently screened for stocks that offer solid dividend yield as well as dividend growth, both of which can be covered by the company's earnings or free cash flow. All the names had to also be rated a buy at Goldman and have an estimated dividend yield of 2% or more in 2025. It has an estimated 2025 dividend yield of 4.6%, analyst Deep Mehta said. Its estimated CAGR in dividend-per-share between 2024 and 2026 stands at 19% and its estimated dividend yield in 2025 is 2.9%. In the oil patch, integrated producer Chevron is expected to nab a dividend yield of 4.9% next year.

Persons: Goldman Sachs, Deep Mehta, Corie Barry, Mehta, Prologis, Hess, John Hess Organizations: Federal Reserve, Goldman, Citigroup, Rent, Chevron, nab, Canadian Natural Resources, Federal Trade Commission, Exxon, Hess Locations: Guyana

☆ Amazon is becoming Big Tech's king of cash, and Wall Street wants a piece of it
▼ + stars: | 2024-10-09 | by ( Eugene Kim | ) www.businessinsider.com time to read: +6 min

Amazon's cash balance is expected to reach almost $400 billion by 2027, far outpacing tech rivals. AdvertisementAmazon's ballooning cash balance is drawing Wall Street's attention. By 2027, Amazon is forecast to have almost $400 billion in cash, far outpacing its Big Tech rivals. Despite the "remarkable" growth in Amazon's cash balance, the company hasn't been as aggressive as other tech companies in rewarding shareholders, he noted. During an April call with analysts, Amazon CFO Brian Olsavsky addressed the question about shareholder returns.

Persons: —, Wall, Mark Mahaney, Mahaney, Evercore's Mahaney, hasn't, Mark Shmulik, Bernstein, Morgan Stanley, Gene Munster, Munster, Andy Jassy's, Brian Olsavsky, Jassy, Olsavsky, Deepwater's Munster Organizations: Service, P Global Market Intelligence, Microsoft, Amazon, Big Tech, Apple, Deepwater Asset Management, Federal Trade Commission, Meta

☆ 10-year Treasury yields shifts lower after crossing 4% in previous session
▼ + stars: | 2024-10-08 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

The 10-year Treasury yield was down by over two basis points at 3.998%, while the yield on the 2-year Treasury was 5 basis points lower at 3.949%. U.S. Treasury yields were slightly lower early Tuesday, reversing course after the 10-year hit it highest level in more than two months during the previous session. The 10-year jumped above 4% on Monday amid stronger labor market readings and despite the start of a Federal Reserve rate-cutting campaign last month. The 10-year yield was up more than 4 basis points to 4.024%, its highest since early August and a big turnaround from its 2024 low of around 3.58%, reached a little more than a month ago. The yield on the 2-year Treasury was up nearly 6 basis points to 3.989%.

Persons: policymaker Adriana Kugler, —, John Melloy, Lisa Kailai Han Organizations: Treasury, U.S, Federal

☆ European soccer round-up: Robert Lewandowski hat-trick keeps Barcelona top of La Liga
▼ + stars: | 2024-10-07 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +8 min

CNN —With European soccer heading into its second international break of the season, league tables are starting to take shape. Spain’s La Liga: Barcelona ease to victory, injury woes for Real MadridRobert Lewandowski is a man in form. The Gunners were also forced to come from behind against Southampton after summer signing Cameron Archer gave the Saints the lead in the second half. Unacceptable second half. Fiorentina head coach Raffaele Palladino received a red card late on, as did Hernández, but the home side held on to clinch its second win of the season.

Persons: Real Madrid Robert Lewandowski, Lewandowski, Antonio Sivera, Hansi Flick –, Bayern Munich –, Lewy, ” Flick, “ He’s, Vincent West, Federico Valverde, Vinícius, Dani Carvajal, Carvajal, stretchered, Arne Slot –, Klopp –, Diogo Jota, Mateo Kovačić, Jérémy Doku, Rodrigo Muniz, Cameron Archer, Kai Havertz, Gabriel Martinelli, Erik ten Hag, Winger Brennan Johnson, James Maddison, Yankuba, Georginio Rutter, Danny Welbeck, Bryn Lennon, Ange Postecoglou, I’ve, We’ve, ”, Michael Olise, Kai Pfaffenbach, Omar Marmoush, Manuel Neuer, Bayer, Holstein, Victor Boniface, Jonas Hofmann, Max Geschwill, Fiete Arp, Gea, Fiorentina Goalkeeper David de Gea, De Gea, Moise Kean, –, Milan –, Viola, Theo Hernández, Matteo Gabbia, brough, Tammy Abraham, Jennifer Lorenzini, Christian Pulisic, Albert Guðmundsson, Raffaele Palladino Organizations: CNN, Liga, Real Madrid, Barcelona, La Liga, Raphinha, Bayern Munich, Reuters, Villarreal, England’s Premier League, Tottenham, Manchester City, Arsenal, Premier League, Klopp, Klopp – Liverpool, Crystal, Reds, City, Fulham, Gunners, Southampton, Liverpool . Manchester United, Aston Villa, Brighton’s American, Sunday, Spurs, Brighton, ” Spurs, Sky Sports, Bundesliga, Bayern, Leverkusen, Leipzig, Eintracht Frankfurt, Bavarian, Bayer Leverkusen, Holstein Kiel, Serie, Fiorentina Goalkeeper, Fiorentina, AC Milan, Manchester United, Milan, Reuters American Locations: Europe’s, Barcelona, Polish, La, Madrid, Liverpool, Portuguese, City, Holstein Kiel .

☆ The job market is in the 'Twilight Zone,' top economist Claudia Sahm says
▼ + stars: | 2024-10-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The US job market is in a strange quandary, according to Claudia Sahm. The September jobs report was huge, but Sahm said the labor market is still cooling. AdvertisementThe job market is in a weird spot, even after Friday's stunningly strong nonfarm payroll report, Claudia Sahm says. The former Federal Reserve economist and the creator of a highly watched recession indicator pointed to signs that the labor market is cooling, despite September's blowout jobs report. Other forecasters have said the job market remains in uncertain territory, though labor conditions are generally on strong footing.

Persons: Claudia Sahm, Sahm, —, they're Organizations: Employers, Service, Federal Reserve, Bloomberg, Challenger, Atlanta Fed

☆ Stocks making the biggest moves midday: Generac, Amazon, Pfizer and more
▼ + stars: | 2024-10-07 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Generac Holdings — Shares of the maker of power generators surged 8% as Hurricane Milton intensified into a Category 5 storm . Amazon — The e-commerce stock lost 2.9% after Wells Fargo downgraded shares to equal weight from overweight and cut its price target, citing slowing growth and competition from Walmart. Hershey – Shares fell 2% after the chocolate maker was downgraded to neutral at UBS and to market perform at Bernstein. JPMorgan downgraded shares to underweight from neutral, citing dwindling confidence in the Israel-based company grapples with share loss concerns and volume challenge. JPMorgan downgraded shares to neutral, citing limited EPS upside from here.

Persons: Milton, Wells, Chubb, Morgan Stanley, Coty, Ashley Helgans, Arcadium, Bernstein, GLP, Ciena, —, Yun Li, Hakyung Kim, Alex Harring, Jesse Pound, Michelle Fox, Sean Conlon, Pia Singh Organizations: Generac Holdings, Walmart, Pfizer —, CNBC, Insurance, —, Allstate, Travelers, Progressive, Hurricane, Universal Insurance, Air Products, Chemicals, Garmin —, Garmin, Jefferies, Rio Tinto, Hershey –, UBS, Butterfly Equity, JPMorgan, Apple Locations: Florida, Hurricane Milton, Fort Lauderdale , Florida, Wells Fargo, California, Israel

☆ Activist Starboard Value has $1 billion Pfizer stake, taps former executives for help, sources say
▼ + stars: | 2024-10-07 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Activist investor Starboard Value has a roughly $1 billion stake in pharmaceutical giant Pfizer and is seeking to mount a turnaround at the struggling company, according to people familiar with the matter. Starboard believes that Pfizer's current leadership, under CEO Albert Bourla, has stepped away from historically disciplined cost structure and investment in novel drugs. One particularly concerning example to Starboard was Pfizer's acquisition of Global Blood Therapeutics. Pfizer pulled a drug for sickle cell disease it got just two years ago via the roughly $5 billion acquisition. Still, more than $100 billion in shareholder value has evaporated since the Covid-19 pandemic faded largely into the rearview mirror.

Persons: Ian Read, Frank D'Amelio, Albert Bourla, Oxbryta, Read, Jeff Smith, Angelica Peebles Organizations: Pfizer, Blood Therapeutics, Autodesk, Street

☆ Meet Jeff Smith, the hedge-fund investor taking on Pfizer
▼ + stars: | 2024-10-07 | by ( Alex Morrell | ) www.businessinsider.com time to read: +7 min

Starboard Value has taken a $1 billion stake in drugmaker Pfizer. The hedge fund, headed by Jeff Smith, has become one of the most feared activist investors. AdvertisementPharmaceuticals giant Pfizer got a wake up call Sunday evening when one of Wall Street's most feared activist investors revealed a stake in the company. AdvertisementPfizer, with a market cap north of $160 billion, is among the largest companies Starboard's Smith has ever targeted. With less than a 10% stake Smith replaced the entire 12-person board and assumed the role of chairman.

Persons: Jeff Smith, —, Smith, Starboard's Smith, Ian Read, Frank D'Amelio, Ken Squire, Paul Singer, Elliott, Carl Icahn, Dan Loeb, Peter Feld, Olive Garden's, Marc Benioff, Brontë Wittpenn, Brontë, Squire, they're, Albert Bourla, Bourla, wagered Organizations: Pfizer, Service, Pharmaceuticals, 13D, Investor, Lazard, Elliott Management, Icahn Enterprises, Cowen Group, AOL, Darden Restaurants, Olive Garden, Longhorn, Darden, Wall, San Francisco, Getty, Smithfield Foods, Bristol, Myers Squibb, Celgene, Autodesk, Starbucks Locations: Olive Garden, Fortune, America, Olive, Washington

☆ Stocks making the biggest moves premarket: Apple, Amazon, Pfizer, Hershey and more
▼ + stars: | 2024-10-07 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

NXP Semiconductor — Shares added 0.8% after UBS upgraded the chipmaker to buy from neutral. Amazon — Shares slumped nearly 2% after Wells Fargo downgraded the e-commerce company to equal weight from overweight, citing slowing growth and competition from Walmart. Pfizer — Activist investor Starboard Value took a roughly $1 billion stake , seeking a turnaround at the struggling company, sources told CNBC. American Express — The financial services stock fell more than 1% after JPMorgan downgraded shares to neutral from overweight. Ally Financial — The financial services stock added 1.4% on the back of a JPMorgan upgrade to overweight from neutral.

Persons: Jefferies, Wells, Coty, Ashley Helgans, Bernstein, headwinds, Ally, Yun Li, Samantha Subin, Alex Harring, Pia Singh, Michelle Fox Organizations: —, Semiconductor, UBS, Walmart, Pfizer —, CNBC, Jefferies, Hershey, American Express, JPMorgan, Wynn Resorts, United Locations: Wells Fargo, underperform, GLP, United Arab Emirates

☆ China’s economy is in bad shape. Can its ‘whatever-it-takes’ stimulus effort turn things around?
▼ + stars: | 2024-10-06 | by ( Juliana Liu | ) edition.cnn.com time to read: +8 min

The stimulus measures should have come far sooner, says Lun, but better late than never. Beijing has largely held back on unveiling fiscal measures, which can include the use of taxation or other measures to impact public spending. Another one trillion yuan may be set aside for recapitalizing banks or helping indebted local governments to issue bonds. Jia said China’s economy had expanded sufficiently since then to support the issuance of Treasury bond financing between four trillion to 10 trillion yuan. Any meaningful stimulus measures must tackle the problem of oversupply in the property market, experts said.

Persons: Francis Lun, he’s, Lun, ”, we’re, Juliana Liu, Ray Dalio, Pan Gongsheng, Li Yunze, Wu Qing, Pan, Jing Liu, it’s, Xi, Jia Kang, Jia, Chi Lo Organizations: Hong Kong CNN —, Index, CNN, Geo Securities, Nikko Asset Management, Bridgewater Associates, National Development Reform Commission, People’s Bank of China, Financial Regulatory, China Securities Regulatory, HSBC, Reuters, Ministry, Finance, Ministry of Finance, China Academy of New, Barclays, BNP, Management Locations: China, Hong Kong, Causeway, Beijing, Renhuai

☆ A new Blue Origin: CEO Dave Limp is bringing urgency and ‘decisiveness’ to Jeff Bezos’ space company
▼ + stars: | 2024-10-05 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +11 min

Blue Origin CEO Dave Limp, left, and founder Jeff Bezos look up at a New Glenn rocket on at the company's LC-36 facility in Florida. Blue OriginDave Limp had only one question for Jeff Bezos when he interviewed last year to become CEO of Blue Origin, the billionaire's space venture. "Jeff felt that [Blue Origin] needed manufacturing expertise; it needed decisiveness; it need a little bit of energy," Limp said. CEO Dave Limp, third from the left, with Blue Origin employees at the company's New Glenn facility in Florida. In the mission's place, Blue Origin will fly a demonstration of its spacecraft Blue Ring on the first New Glenn launch.

Persons: Dave Limp, Jeff Bezos, Jeff, Limp, Bezos, It's, I'm, New Glenn, Allen Parker, Jennifer Pena, Leanos, Ian Richardson, Tim Collins, it's, Origin's, ULA, Paul Hennessy, Glenn, We've, Starliner, Shepard, Blue, let's Organizations: Glenn, Florida ., Amazon, CNBC, Blue, SpaceX, United Launch Alliance, Lab, Firefly Aerospace, Company, NASA, Amazon Devices, Flexport, Vulcan, Cape Canaveral Space Force, Anadolu, Getty, New Glenn, Falcon, Shepard, National Security, Washington , D.C Locations: Florida, New, Mars, Seattle, Kent , Washington, Texas , Florida, Alabama, ULA, West Texas, Cape Canaveral , Florida, Glenn, Washington ,, Huntsville , Alabama, Cape Canaveral , Texas

☆ How China's stimulus could provide a boost to new CEOs at Nike and Starbucks down the line
▼ + stars: | 2024-10-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

Brian Niccol and Elliott Hill are taking over Starbucks and Nike , respectively, just as a key market that weighed on their predecessors gets a boost. As China's economic stimulus takes shape, it could end up helping these global brands. Nike and Starbucks in China While the exact plans for Niccol and Hill are still unclear, the Chinese market seems like it will be an area of focus. At Starbucks, the company's leadership team in China has already been reshuffled since Niccol took over in September. Still, a rebound for China's consumer won't necessarily boost sales for Starbucks and Nike without better execution.

Persons: Brian Niccol, Elliott Hill, Hartmut Issel, Niccol, Matthew Friend, Hill, Chen Luo, Ellen Hazen, . Putnam, Hazen, Eric Clark, I'd, it's, Clark, America's Luo, — CNBC's Michael Bloom Organizations: Starbucks, Nike, Bank of America — Nike, UBS, Bank of America, CNBC, Brands, Bank, America's Locations: China, United States, Niccol, .

☆ After multiple layoffs, one entrepreneur went all-in on her pet portrait side hustle. She took a pay cut but has more freedom and isn't 'bound by meetings from 9-to-5.'
▼ + stars: | 2024-10-05 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

After several layoffs, Emma Sadler decided to go all-in on her side hustle: custom pet portraits. She took a pay cut, but doesn't have to worry about layoffs and enjoys more freedom with her days. AdvertisementEmma Sadler was working in hospitality in early 2020 when the Covid pandemic first swept the nation. "I really wanted another outlet where I could make something physical and not just something digital." I don't want to really pay myself right now if I can avoid it."

Persons: Emma Sadler, Taleology, —, Danny Meyer, Sadler, I'd, she'd, I've, couldn't, it's Organizations: Service, BI Locations: New York City, Brooklyn, New York, Taleology

Friday’s jobs report is expected to show another relatively healthy month of payroll gains, alongside a stable unemployment rate. At the moment, there is little light at the end of the tunnel for those job seekers. The unemployment rate was expected to be unchanged from August, at 4.2%. While the economy continues to add jobs at a steady clip, signs of ongoing labor market weakness have become unmistakable. Last week, the Conference Board’s closely watched consumer confidence survey fell by the largest amount since August 2021, driven largely by concerns about the labor market.

Persons: Dana M, Peterson, Guy Berger, ” Berger, Berger, precariousness Organizations: Labor Statistics, Conference, Conference Board, Glass, Federal Reserve Locations: U.S

☆ Red Lobster is a mess. Here’s why the new 35-year-old CEO wanted the job anyway
▼ + stars: | 2024-10-04 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +10 min

Red Lobster's new chief executive Damola Adamolekun during an interview with CNN at a Red Lobster in Long Island, New York, last week. CNNIn Springfield, he first ate at a Red Lobster with his parents and two siblings after church one Sunday. Red Lobster was where he, like millions of Americans, experienced eating lobster and cracking crab legs for the first time. Beyoncé sang about taking a romantic partner to Red Lobster in her 2016 hit song “Formation.”After Red Lobster filed for bankruptcy, Flava Flav ordered the whole menu to try to save the company. Red Lobster closed more than 100 restaurants this year, including a location in Orlando, Florida, shown this year.

Persons: Damola Adamolekun, “, ” Adamolekun, It’s, ”, Adamolekun, Bill Darden, Mills, Chris Rock, Nicki Minaj, Beyoncé, Flav, “ Mr, ” —, Kevin Lamarque, Clarence Otis Jr, RJ Hottovy, Hottovy, Adamolekun’s, ” Hottovy, ’, Red, Phelan M, can’t, John Paulson, Paulson, P.F, Chang’s, Morgan McClure, Fortress, ” McClure, Brandon Bell, isn’t Organizations: New, New York CNN, CNN, Fortress Investment, Fortress, Red, Boomers, Darden, Thai Union Group, Former Red Lobster, Thai Union, As Thai Union, Thai, Brown University, Harvard Business School, Paulson & Co Locations: New York, Long, , New York, Nigeria, Zimbabwe, Netherlands, Springfield , Illinois, United States, Long Island , New York, Springfield, America, Alexandria , Virginia, Olive, Thai Union, Thai, Orlando , Florida, P.F, Chang’s, Columbia , Maryland, New York City, Scottsdale , Arizona, Austin , Texas

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