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NEW YORK (AP) — Tommy Hilfiger threw himself a welcome home party Friday night at Grand Central's Oyster Bar with Questlove as his DJ and Jon Batiste serenading Anna Wintour on his melodica while a bevy of global celebrities looked on. Turning the iconic restaurant into “The Tommy” club for a night, Hilfiger called his New York Fashion Week show “A New York Moment,” rolling out roomy, '90s prep classics for the bash. The last time he hit town for fashion week was in September 2022, when his crowd braved rain for his “Tommy Factory” show at a Brooklyn drive-in theater. As the crowd sipped cocktails in booths, Hilfiger stuck to what he knows on models walking through: rugby shirts, blazers, chinos and varsity jackets in corduroy and herringbone. “We’ve got a very big polo shirt business, chino pant business, Oxford shirt business.
Persons: — Tommy Hilfiger, Questlove, Jon Batiste serenading Anna Wintour, Tommy ”, Hilfiger, Tommy Factory, Nayeon, Junho Lee, Sonam Kapoor, Sofia Richie Grainge, Damson Idris, Sylvester Stallone, , “ We're, Stallone, Batiste, , “ We’ve, chino pant, ” Hilfiger, PVH Organizations: New, Associated Press, Global Locations: Brooklyn, Madison, Germany, France, Italy, England, Turkey, Scandinavia, Greece, U.S, New York, chino, Oxford
CNBC Pro combed through Bank of America research to find attractive stocks heading into earnings. Global Payments Analyst Jason Kupferberg is doubling down on shares of the payment processing company heading into earnings on Feb. 14 . "If executed well, we still think integrations between ESPN's media app and ESPN Bet could drive sustainable high-single-digit market share," he said. "We are Buy rated on PENN given stable regional gaming trends and upside opportunity from ESPN Bet," Kelley wrote. … While disappointing at face, turnarounds are never a straight line and we think investor expectations for PENN & ESPN Bet remain low.
Persons: it's, there's, Jason Kupferberg, Kupferberg, GPN, Tal Liani, Liani, Shaun Kelley, that's, Kelley, Penn Organizations: Nvidia, Bank of America, CNBC, Arista Networks, Penn Entertainment, Global, Arista, Microsoft, TAM, Penn, ESPN, ESPN Bet, PENN, SG, Enterprise, SAP, VMWare, Dell, Penn Ent, Interactive, Locations: Bank, CY25, 2H24
Two British climate tech companies have raised a collective £5.5 million, around $7 million, in early-stage funding to sequester CO2 in concrete and digitize solar management in real estate. A mineralization process occurs when it is mixed with concrete, storing the CO2 permanently. The startup's end-to-end AI-driven platform helps real estate owners assess, install, and monetize solar energy, tackling traditionally complex and manual processes. The pre-Seed funding, from Octopus Ventures and impact investor Aenu, will be used to roll out the product. Check out the 11-slide pitch deck below:Metris EnergyMetris EnergyMetris EnergyMetris EnergyMetris EnergyMetris EnergyMetris EnergyMetris EnergyMetris EnergyMetris Energy
Persons: Dalraj Nijjar, Nijjar, Natasha Jones, William Whatley, Metris, Jones Organizations: Business, Zacua Ventures, Siam Cement Group, Metris Energy, Energy, Octopus Ventures, Energy Metris Energy Locations: Nottingham, London, Paris
It is a gleaming vision of a world just beyond the present: a world in which meat is abundant and affordable with almost no cost to the environment. Meat without killing is the central promise of what’s come to be known as cultivated meat. Between 2016 and 2022, investors poured almost $3 billion into cultivated meat and seafood companies. Two of the leading companies — Eat Just and Upside Foods, both startups — reportedly achieved billion-dollar valuations. And today, a few products that include cultivated cells have been approved for sale in Singapore, the United States and Israel.
Persons: what’s, , Qatar Investment Authority —, Tyson, Cargill, Leonardo DiCaprio, Bill Gates, Richard Branson . Organizations: Qatar Investment Authority, JBS, Foods Locations: Temasek, Singapore, United States, Israel
The new app has a familiar name: Shopify Fulfillment Network. With the new Shopify Fulfillment Network , merchants can sign up to use Flexport's services through Shopify's app. The newly named Shopify Fulfillment Network is not merchants' only option for fulfillment. Wong said the company had also indicated Flexport would not be the exclusive provider for Shopify Fulfillment Network. "They've definitely given themselves more choices than there were before when it was just Shopify Fulfillment Network or bust," he said.
Persons: Shopify, Tobi Lütke, Oppenheimer, Ken Wong, Wong, It's, Flexport, They've Organizations: Shopify Logistics, Business, Shopify, Flexport, Amazon Locations: Flexport, mlstone@protonmail.com
Global silver demand is forecast to reach 1.2 billion ounces in 2024, which would mark the second-highest level on record, the Silver Institute said in a recent report. "We think silver will have a terrific year, especially in terms of demand," Michael DiRienzo, executive director of the Silver Institute told CNBC. He expects silver prices to reach $30 per ounce, which would be a 10-year high, according to data from LSEG. Silver prices, like gold, tend to have an inverse relationship with interest rates. In contrast, gold prices usually rise during times of economic weakness or uncertainty.
Persons: Nicky Loh, Michael DiRienzo, Randy Smallwood Organizations: Silver Bullion, Bloomberg, Getty, Silver Institute, CNBC, Wheaton, Metals, U.S . Federal Reserve, Wheaton Precious Metals, Vw Locations: Singapore, India, U.S
Revenue : $1.36 billion vs. $1.38 billion expected, according to LSEG. : $1.36 billion vs. $1.38 billion expected, according to LSEG. Global Daily Active Users : 414 million vs. 412 million expected, according to StreetAccount. : 414 million vs. 412 million expected, according to StreetAccount. Daily active users for the first quarter will be 420 million, Snap said, slightly topping analyst estimates of 419.3 million.
Persons: Evan Spiegel, Porte, Debra Aho Williamson, Mark Zuckerberg, Linda Yaccarino, Shou Zi Chew, Jason Citron, Pinterest Organizations: Inc, Viva Technology, Porte de, CNBC, Meta Locations: Paris, Israel
British startup carrier Global Airlines said on Friday that it had fully acquired an Airbus A380 jet previously owned by China Southern Airlines. MSN 120, however, is not the same plane that Global said it acquired back in May 2023. Following the purchase of MSN 120, Global expects to acquire three more A380s and hopefully launch commercial flights "later this year," it said. "The renaissance of the A380 is really the focus of Global Airlines," HiFly CCO Richard Stephenson said in a December video posted by Global. Simple Flying reported Global would refurbish MSN 120 but keep its China Southern seats.
Persons: James Asquith, Richard Stephenson, Asquith, Hospitio, Brad Beakley, Beakley Organizations: Global Airlines, Airbus, China Southern Airlines, MSN, Global, CNN, Singapore Airlines, China Southern, 9H, Center for Aviation, Portuguese, HiFly, Global Airlines Asquith, Boeing, Weekly, Gatwick, American Airlines, luxe, Travel Locations: Malta, China, London, New York, Los Angeles
Spring is former CEO of Bloomingdale's and begins as Macy's CEO in February 2024, succeeding longtime Macy's CEO Jeff Gennette, right. Spring will step onto a bigger stage and inherit the iconic department store's issues when he takes over the role of Macy's CEO on Sunday. He said after leading "the better-run part of the business" in Bloomingdale's, Spring needs to bring those "softer skills" to Macy's. Wooing investors and brandsIn his new role, Spring will have to charm investors, shoppers and hot brands. Macy's struggles have turned the retailer into a target for the activist investors Spring will face down as he becomes CEO.
Persons: Spring, Jeff Gennette, Melissa Repko, Macy's, Tony Spring, Bloomingdale's, Neil Saunders, Gennette, Tony, I'm, Sandro, Alice, Olivia, GlobalData's Saunders, Saunders, Jan, Arkhouse, Gavriel Kahane Organizations: CNBC, Herald, Investors, Maxx, Walmart, Cornell University, Arkhouse Management, Brigade Capital Management Locations: New York, Macy's, White Plains , New York, Bloomingdale's
A Starbucks coffee cup sits on a table at one of the coffee chain's locations in Miami, Florida, on June 11, 2021. Starbucks on Tuesday reported quarterly earnings and revenue that missed Wall Street's expectations as both domestic and international sales fell short of estimates. In North America, same-store sales also rose 5%, driven largely by customers spending more on their drinks and food. Outside of Starbucks' home market, the coffee chain reported international same-store sales growth of 7%, missing expectations of 13.2%. China, the company's second-largest market, reported same-store sales growth of 10%.
Persons: Laxman Narasimhan Organizations: Starbucks, LSEG, Revenue Locations: Miami , Florida, North America, China
Saudi Aramco said Tuesday that it would call off plans to expand its oil output, a remarkable turnaround by one of the world’s leading petroleum producers. Aramco, the national oil company of Saudi Arabia, said it had been directed by the government in Riyadh to maintain its “maximum sustainable capacity” of crude oil production at 12 million barrels a day, and give up a drive to increase it to 13 million barrels a day by 2027, a plan announced several years ago. But it could be a sign that the Saudis are changing their thinking about future supply and demand for their oil. Global oil supplies have recently been stronger than the Saudis anticipated because of strong growth in output from shale drilling in the United States, which is now the world’s leading oil producer, and other sources. “The decision probably reflects a view that the world does not need as much Saudi oil as was previously expected,” said Neil Beveridge, an analyst at Bernstein, a research firm.
Persons: , Neil Beveridge, Bernstein Organizations: Saudi Aramco, Aramco Locations: Saudi, Saudi Arabia, Riyadh, United States
BEIJING (AP) — As the U.S. presidential campaign moves closer to a Donald Trump-Joe Biden rematch, China is watching uneasily. While Biden has looked for areas of cooperation with China, Beijing is concerned about his efforts to unite allies in the Indo-Pacific in a coalition against China. “For China, no matter who won the U.S. presidential election, they would be two ‘bowls of poison’,” said Zhao Minghao, a professor of international relations at Fudan University in Shanghai. When Biden and Trump squared off in 2020, U.S. intelligence agencies reported before the election that China viewed Trump as “unpredictable” and opposed his reelection. “Trump is by nature volatile and cruel and is a person hard to be familiar with,” said Shi Yinhong, international relations professor at Renmin University of China.
Persons: Donald Trump, Joe Biden, uneasily, Biden, It’s, hasn’t, , Zhao Minghao, Sun Chenghao, Trump, Chuan Jianguo, “ Trump, Sun Yun, Sun, Xi Jinping, Antony Blinken, Xi, Miles Yu, China's, ” Yu, Deng Xiaoping, Shi Yinhong, Shi, Wang Yiwei, ” Wang, ” Shi, ___ Tang, Yu Bing, Chen Wanqing, Eric Tucker Organizations: BEIJING, U.S, China, Trump, , Fudan University, Center for International Security, Tsinghua University, Stimson Center, Hudson Institute, Communist Party, Renmin University of China, White, Institute of International Affairs, Associated Press Locations: China, Beijing, Taiwan, Shanghai, Asia, Pacific, Sun, Washington, Lago, Florida, City, United States, U.S
Starbucks reported record revenue in its fiscal first quarter but lowered its sales outlook for the rest of the year as spending weakens in China and other markets. Starbucks said its revenue rose 8% to a record $9.43 billion for the October-December period. Global same-store sales rose 5%, which was also lower than the 7% increase analysts forecast. Starbucks also saw record U.S. spending per order as visitors bought more food and spent more to customize their drinks. Starbucks and Workers United plan to try to resolve the lawsuit in mediation sessions next month, according to court filings.
Persons: Laxman Narasimhan, Narasimhan, , ” Narasimhan, boycotters, Belinda Wong, We’re, Wong Organizations: Starbucks, Workers United, Israel, Workers Locations: China, Seattle, U.S, Narasimhan, Gaza
Cramer's Lightning Round: 'We don't want' AMC
  + stars: | 2024-01-29 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Northrop Grumman's year-to-date stock performance. Stock Chart Icon Stock chart icon John Bean Technologies' year-to-date stock performance. Stock Chart Icon Stock chart icon AMC's year-to-date stock performance. Stock Chart Icon Stock chart icon Procore Technologies' year-to-date stock performance. Procore Technologies : "That's a very, very expensive stock...I say ka-ching ka-ching on some of that one."
Persons: Northrop, I'm, John Bean, AMC's Organizations: Northrop Grumman, John Bean Technologies, AMC, Technologies, Procore Technologies
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're moving into a modest growth, modest inflation environment, says Wells Fargo's Scott WrenScott Wren, Wells Fargo Sr. Global Equity Strategist and Keith Lerner, Truist Wealth Chief Market Strategist, join 'Closing Bell: Overtime' to discuss earnings and market reaction.
Persons: Wells Fargo's Scott Wren Scott Wren, Wells Fargo, Keith Lerner Organizations: Global Equity, Truist
CNBC Daily Open: Big Tech earnings on tap
  + stars: | 2024-01-29 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
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. China's luxury reboundChina's luxury sales market is bouncing back. Tech layoffs surgeSilicon Valley's tech companies are slashing headcount at a rapid pace. Since the start of January, some 23,670 workers have been laid off from 85 tech companies, according to the website Layoffs.fyi.
Persons: Google's Bard, Hong, Dow, It's, Brent, Kingsley Jones, Jevons, Tesla, Jones Organizations: Microsoft, CNBC, CSI, Nasdaq, LVMH, Hamas, U.S . West Texas Locations: Asia, Iran, Jordan, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Wells Fargo's Scott Wren and Truist's Keith LernerScott Wren, Wells Fargo Sr. Global Equity Strategist and Keith Lerner, Truist Wealth Chief Market Strategist, join 'Closing Bell: Overtime' to discuss earnings and market reaction.
Persons: Wells Fargo's Scott Wren, Truist's Keith Lerner Scott Wren, Wells Fargo, Keith Lerner Organizations: Global Equity, Truist
It was down only 14% from the previous weekend and brings its running domestic total to $42.3 million. Political Cartoons View All 253 ImagesThis was the first moviegoing weekend following Oscar nominations. Searchlight’s “Poor Things,” nominated for 11 Oscars, including best picture, best director and best actress for Emma Stone, got a 43% boost from last weekend with an estimated $3 million. And A24’s “The Zone of Interest,” which had five nominations, including best picture and best director for Jonathan Glazer, expanded to 317 screens, where it earned $1.1 million. Universal had leading Oscar nominee “Oppenheimer” in 1,262 theaters, where it earned an additional million dollars this weekend.
Persons: holdovers, , Jason Statham actioner, It's, “ Oppenheimer, ” “ Barbie, , Jeffrey Wright, Emma Stone, Jonathan Glazer, Alexander Payne's “, Glazer's, Jonathan Organizations: American, Amazon MGM Studios, Warner Bros, Universal Locations: North America
CNBC's "Sustainable Future Forum" returned as a special event live from the 54th Annual Meeting of the World Economic Forum in Davos, Switzerland. CNBC convened top policymakers and business leaders to evaluate the outcomes of COP28 and examine what needs to happen in 2024 to ensure pledges are upheld, and progress is made. This panel examines what needs to happen to stay on course. watch nowNavigating the Energy TransitionCOP28 climate summit reached a historic deal to transition away from fossil fuels but did the agreement go far enough? Guests on the panel included: Marco Alvera, CEO, TES Vaishali Sinha, co-founder, ReNew Alfred Stern, CEO, OMV Bold Baatar, CEO, Rio Tinto Copper Henrik Andersen, CEO, Vestas
Persons: Badr Jafar, Daniel F, Feldman, John Kerry, Biden Rachel Kyte, Sanda Ojiambo, Tania Bryer, Kofi Annan, Marco Alvera, TES Vaishali Sinha, Alfred Stern, OMV, Rio Tinto Copper Henrik Andersen, Vestas Organizations: Economic, CNBC, Crescent Petroleum, Business, Philanthropy, Conference of, UN, Partner, Staff, Initiative, Energy, TES Vaishali, Rio Tinto Copper Locations: Davos, Switzerland, Dubai, Covington, Rio
Why there is a new global race to the moon
  + stars: | 2024-01-20 | by ( Magdalena Petrova | ) www.cnbc.com   time to read: +2 min
But moon landings are likely to become more common over the next few years. "The moon is a proving ground," said Michelle Hanlon, executive director at the Center for Air and Space Law at the University of Mississippi. But, once we figure that out, the helium-3 on the moon could seriously power the Earth, the entire Earth, for centuries," Hanlon said. "But a second, newer part to this is the belief that there are significant resources on the moon that are useful to Earth, or useful for future space flight." To find out more about the new moon race and why the U.S. and China are currently the leaders, watch the video.
Persons: Michelle Hanlon, Hanlon, Dean Cheng Organizations: European Space Agency, Center for Air, Space, University of Mississippi, United States Institute of Peace Locations: Japan, Russia, China, India
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. global reputation depends on Ukraine funding, says Invesco's Andy BlockerAndy Blocker, Invesco global head of public policy, joins 'The Exchange' to discuss defense spending, reaching agreements across Republicans and Democrats, and more.
Persons: Andy Blocker Andy Blocker, Invesco Organizations: U.S, Republicans, Democrats Locations: Ukraine
Read previewRussia's use of North Korean ballistic missiles in Ukraine could boost missile sales for Kim Jong Un's government, a military analyst told The Wall Street Journal. Last week, South Korea's ambassador to the UN accused North Korea of using Ukraine as a "test site" for its nuclear-capable missiles. "This is the cash cow," Dalton said, adding that now "North Korea will be able to command a premium for these systems in ways it wasn't before." Fragments of what may be North Korean missiles used by Russia in an attack on Kharkiv, Ukraine, on January 6, 2024. "If Ukraine, for example, proves more successful in shooting down North Korean missiles compared to Russian ones, then we can assume that North Korean technology is not as advanced," he said.
Persons: , Kim Jong, Joonkook Hwang, John Kirby, Toby Dalton, Dalton, Ramon Pacheco Pardo, Pardo, Bruce Bechtol, Bechtol, Yoo Sang, Andriy Kostin Organizations: Service, Wall Street, Business, UN, National Security, Nuclear, Carnegie Endowment, Getty, King's College London, Federation of American Scientists, Angelo State University in, country's Intelligence Service, CNN, Suspilne, Meduza Locations: Korean, Ukraine, South, Korea, Russia, North Korea, Kharkiv, Iran, Angelo State University in Texas, South Korea, Japan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email‘We are at an inflection point,’ says CEO of the UN Global CompactSanda Ojiambo, CEO and executive director of the U.N. Global Compact, joins Tania Bryer at CNBC's Sustainable Future Forum in Davos to discuss the work of the Global Compact as it marks 25 years since it was first proposed by then U.N. Secretary-General, Kofi Annan.
Persons: , Tania Bryer, Kofi Annan Organizations: UN Locations: Davos
European markets are expected to open higher Monday as investors in the region gear up for the World Economic Forum in Davos, Switzerland. Titled "Rebuilding Trust," this year's forum runs from Jan. 14-19. Global business and political leaders will meet in the Swiss ski resort to discuss economic and geopolitical matters. This year, global trade, inflation, supply chains, technological change and wars in the Middle East and Ukraine are expected to top the agenda. Perhaps the most heavyweight political figures set to be in attendance are China's second-in-command Li Qiang and French President Emmanuel Macron, who will both give special addresses.
Persons: Li Qiang, Emmanuel Macron Organizations: World Economic, Global Locations: Davos, Switzerland, Jan, Swiss, East, Ukraine
With a midair emergency, disappointing profit forecast and more aircraft groundings after only two weeks, the airline industry is already off to a turbulent 2024. "It's a labor intensive, capital intensive, largely commodity-type business," Buffett said during the annual meeting of Berkshire shareholders in 2013. Selling airlines In 2020, Buffett revealed that Berkshire sold all of its equity holdings in the U.S. airline industry. That included stakes worth a combined $4 billion in all four legacy carriers — United Airlines , American Airlines , Southwest Airlines and Delta Air Lines . And I don't know how it's changed and I hope it corrects itself in a reasonably prompt way," Buffett said then.
Persons: Warren Buffett, Buffett, Berkshire Hathaway, That's, he's, I've, Charlie Munger, it's, Donald Trump, ’ Buffett, Kitty Hawk, Orville, Richard Branson Organizations: Berkshire, U.S, — United Airlines, American Airlines, Southwest Airlines, Delta Air Lines, Buffett, U.S . Global JETS ETF, JETS, Chicago Cubs, CNBC, Virgin Atlantic Airways Locations: Omaha, NetJets
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