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Washington CNN —The US government and dozens of states sued Live Nation in a groundbreaking antitrust lawsuit on Thursday, alleging that for years the parent company of Ticketmaster abused its industry dominance to harm concertgoers nationwide. It is time to break up Live Nation-Ticketmaster.”In a statement, Live Nation called the DOJ’s allegations “baseless.”“The DOJ’s lawsuit won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,” Live Nation said in a statement. The lawsuit highlights how regulators now believe, more than a decade on, that the behavioral modifications Live Nation agreed to have failed. According to the lawsuit, Live Nation directly manages more than 400 artists, controls around 60% of concert promotions at major concert venues across the country, and controls more than 265 concert venues in North America. And through Ticketmaster, the suit says, Live Nation controls roughly 80% or more of major concert venues’ primary ticketing for concerts.
Persons: Taylor Swift’s, , General Merrick Garland, Swift, Robert Smith, Zach Bryan, Minnesota Democratic Sen, Amy Klobuchar, Connecticut Democratic Sen, Richard Blumenthal, Klobuchar, Blumenthal, John Cornyn, Ted Cruz, Biden, ramping Organizations: Washington CNN, Ticketmaster, Justice Department, Prosecutors, , , DOJ, Regulators, Minnesota Democratic, Connecticut Democratic, Texas Republican, District of Columbia, Court, Southern, of Locations: New York, United States, Texas Republican Sens, North America, Arizona , Arkansas , California , Colorado , Connecticut, Florida , Illinois, Maryland , Massachusetts, Michigan, Minnesota , Nevada , New Hampshire , New Jersey , New York, North Carolina , Ohio , Oklahoma , Oregon , Pennsylvania, Rhode Island , South Carolina , Tennessee , Texas, Virginia, Washington, West Virginia , Wisconsin , Wyoming, of New York
John Chambers, CEO of Cisco, at the 2015 CGI Annual Meeting in New York. Adam Jeffery | CNBCArtificial intelligence will power the stock market for the next decade, former Cisco CEO John Chambers told CNBC on Wednesday. "AI will power the stock market for the next decade," Chambers told CNBC's Karen Tso on the sidelines of the VivaTech conference in Paris. watch nowChambers said 38% of venture capital in the U.S. in the first quarter went into AI stocks. Chambers compared Nvidia's place in the AI market to Cisco's position in the internet market.
Persons: John Chambers, Adam Jeffery, Chambers, CNBC's Karen Tso, Maurice Lévy, Lévy Organizations: Cisco, CNBC, JC2 Ventures, Nvidia Locations: New York, Paris, U.S, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI will power the stock market for the next decade, former Cisco CEO John Chambers saysJohn Chambers, the former CEO of Cisco, says that artificial intelligence will "power the stock market over the next decade," adding that the technology is the reason why the stock market has moved so dramatically over the past 12 months.
Persons: John Chambers Organizations: Cisco
CNN —Sean “Diddy” Combs has been accused of sexual assault in a new lawsuit filed on Tuesday by Crystal McKinney, a former model and winner of MTV’s 1998 Model Mission competition show. McKinney “felt confused but hopeful that Combs would fulfill his promises to help her career,” and Combs invited her to his recording studio later that night, the complaint continues. In the bathroom, Combs “began kissing her without her consent” and later “forced her to perform oral sex on him,” according to the complaint. “As her consciousness returned, Plaintiff realized that she had been sexually assaulted by Combs,” the complaint reads. One of the six suits names Combs as a defendant but was was brought against Combs’ son, Christian Combs.
Persons: Sean “ Diddy ” Combs, Crystal McKinney, McKinney, , Combs, McKinney “, , Combs “, Sean John Clothing, ” McKinney, Tommy Hilfiger, Cassie Ventura, Ventura, ” Combs, Meredith Firetog, Cassie, Combs ’, Christian Combs, Ventura’s Organizations: CNN, Plaintiff, Combs, Bad Boy Records, Sean John Clothing LLC, Universal Music Group Inc, New, New York City Council, IMG, MTV, Authorities, Department of Homeland Security Locations: New York, New York City
Corporate insiders have been actively buying and selling their own stock in May, with one recent weeklong stretch showing higher ups at five different companies spent at least $1 million, according to VerityData. A similar situation happened at Akamai Technologies , where CEO Tom Leighton bought about $2 million worth of stock last Tuesday. Insider sales The dollar figures attached to major insider sales during the same time period were even larger than the buys. Meanwhile, Crowdstrike CFO Burt Podbere sold about $8 million of stock, with chief security officer Shawn Henry also selling shares. The CEOs of Squarespace and T-Mobile each sold more than $6.5 million worth of stock.
Persons: VerityData, Jared Isaacman, Isaacman, Nancy Disman, Tom Leighton, Anthony Williams, John Childs, Childs, Gregory Bailey, Vlad Coric, Jayshree Ullal, Burt Podbere, Shawn Henry, Anthony Casalena's, Jonathan Neman, , Nick Wells Organizations: Shift4, Akamai Technologies, VerityData, Arista Networks, Mobile Locations: Biohaven
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewDonald Trump is unlikely to testify in his hush-money trial in Manhattan, despite previously saying he would, sources familiar with the matter told The Washington Post. Four unnamed people close to the former president told the paper that they were not expecting him to take the witness stand next week. Related storiesDespite this, Trump has previously insisted that he would "absolutely" testify in the trial. On Friday, a centrist Washington DC-based think tank, Third Way, released an ad dubbed "Coward," daring Trump to take the stand.
Persons: , Donald Trump, John Coffee, Trump, Stormy Daniels, Juan Merchan, Coward, Donald, Robert Mintz, Michael Cohen, Trump's, Todd Blanche, Cohen, Coffee, Blanche Organizations: Service, Washington Post, Business, Columbia Law School, Telegraph, Lawyers, Elmen, Washington DC, Post Locations: Manhattan, Washington
Mr. Trump addressed the group as he is on trial in Manhattan on criminal charges that he falsified business records related to a hush-money payment to a porn star. Gun safety groups hung up T-shirts with the names of people killed by gun violence in Dallas County. At the N.R.A.’s meeting, Mr. Trump, whose campaign fund-raising has lagged in Texas, urged gun owners to head to the polls to help deliver him the election. She also criticized Mr. Trump for saying, “We have to get over it” after a shooting in Iowa this year that killed a sixth grader. Mr. Trump “is catering to the gun lobby and threatening to make the crisis worse if re-elected,” Ms. Harris said.
Persons: Donald J, Trump, Biden, , Mr, , Greg Abbott, John Cornyn, you’ve, Andrew Arulanandam, Abbott, Biden’s, ” “ Donald Trump, Joe Biden, ” Mr, N.R.A, ” Ana, Maria Ramos, Jill Brown, Louis, , Robert F, Kennedy Jr, Trump’s, Kamala Harris, ” Ms, Harris Organizations: National Rifle Association, Biden, , Alcohol, Tobacco, Firearms, Explosives, Texas Democrats, Dallas City Hall, City Hall Plaza, Associated Press, Allen, Outlets, Republican, Trump coalition, Las, Supreme Locations: Dallas, Manhattan, Houston, Uvalde , Texas, Texas, Dallas County, United States, Pennsylvania, Las Vegas, Parkland, Fla, Iowa
Kathy Hochul of New York focused on looking forward for solutions to worldwide crises like global warming and a lack of affordable housing. But as she visited County Kerry, Ireland, Ms. Hochul paused to linger in the past. They would later meet in Chicago, where they married before moving to Buffalo, the governor’s hometown, to work at the steel mill there. Every so often, as money and time allowed, the family would make the trip back to the Maharees, a peninsula that juts off Ireland’s west coast and contains three small towns: Fahamore, Kilshannig and Candeehy. On Sunday, around 100 local residents, county council members and relatives gathered in Spillane’s Bar in Fahamore for a civic reception to honor Ms. Hochul.
Persons: Kathy Hochul, Hochul, Kathleen Courtney, John Courtney, Mary Browne Organizations: Gov Locations: Europe, New York, County Kerry, Ireland, Kilshannig, United States, Chicago, Buffalo, Spillane’s, Fahamore
Stripe: 2024 CNBC Disruptor 50
  + stars: | 2024-05-14 | by ( Cnbc.Com Staff | ) www.cnbc.com   time to read: +1 min
It hasn't emerged unscathed, seeing its private valuation cut sharply during the startup crash. Stripe was valued at $65 billion as of the tender offer it completed in February, an increase from its last private valuation of $50 billion – albeit still far from its high of $95 billion in 2021. In its annual letter published in March, Stripe revealed that it surpassed $1 trillion in total payment volume in 2023, up 25% from 2022. "Stripe's business is the healthiest it's ever been," president and co-founder John Collison told CNBC in April. Stripe says it's also benefiting from a new wave of optimism in Silicon Valley, even if it isn't primarily an AI company.
Persons: hasn't, John Collison, We're, it's, disruptors OpenAI Organizations: PayPal, CNBC Locations: Silicon Valley
John Cleese is a Miu Miu man
  + stars: | 2024-05-14 | by ( Leah Dolan | ) edition.cnn.com   time to read: +3 min
CNN —A black crewneck, mid-wash jeans, white blazer and a distressed denim Miu Miu cap. Or is the senior a dedicated Miu Miu man? John Cleese's denim Miu Miu cap retails for $550. Originally billed as the spry, sometimes juvenile sibling to grown-up Prada, Miu Miu has not so much rebranded as redefined its vision of youth. Kristen Scott Thomas walked the runway for Miu Miu in September.
Persons: Miu, Sydney Sweeney, Emma Chamberlain — it’s, octogenarian John Cleese, Cleese —, Monty Python, , , Miu Miu, Cleese, Camilla Cleese, Robin Williams, Jean Paul, Gaultier, Issey Miyake, Alexander McQueen, John, Prada, spry, , , Miuccia Prada, Kristen Scott Thomas, Emma Chamberlain, Ayo Edebiri, Emma Corrin, Qiu Huilan —, Chris Evans, Michael Palin, Terry Gilliam, , Evans Organizations: CNN, Paris Fashion, Virgin Radio Locations: British, Paris
CNN —Rudy Giuliani was suspended from New York City radio station WABC and his talk show canceled after he flagrantly ignored orders not to discuss false 2020 election conspiracy theories, the station’s owner said Monday. In recent months, Giuliani was repeatedly directed to not make claims of electronic voting manipulation surrounding the 2020 election, John Catsimatidis, the billionaire GOP donor and owner of the radio station, said in a statement. “Guiliani has admitted repeatedly over the past few days that he agreed not to speak about Dominion,” Catsimatidis said. Last month, the far-right cable channel One America News settled with another voting technology company, Smartmatic, for its airing of false claims. Giuliani has also been criminally charged in Georgia and Arizona over lies related to overturning the 2020 presidential election.
Persons: CNN — Rudy Giuliani, flagrantly, Giuliani, Donald Trump, John Catsimatidis, Catsimatidis, “ Guiliani, ” Catsimatidis, , ” Giuliani, Giuliani “, , cancelation, WABC’s, you’re, ” Giuliani ranted Organizations: CNN, New York City, WABC, New, Voting Systems, Dominion, Bloomberg, Fox News, News, New York Post, Newsmax, , Democrat Locations: New, New York, Georgia, Dominion, Arizona, Florida, New York City
Rudolph W. Giuliani was suspended by WABC radio on Friday and his daily talk show was canceled after the station said he violated its policy by trying to discuss discredited claims about the 2020 presidential election on air. John Catsimatidis, the billionaire Republican businessman who owns the station, said he had made the decision after Mr. Giuliani refused to avoid the topic after repeated warnings. “We’re not going to talk about fallacies of the November 2020 election,” Mr. Catsimatidis said in a brief phone interview. I suspended him.”Mr. Giuliani, a former New York City mayor, was one of the leading figures in former President Donald J. Trump’s attempts to contest and overturn the 2020 election results. He was Mr. Trump’s personal lawyer at the time and helped coordinate legal challenges to Mr. Biden’s victory in several states in a bid to keep Mr. Trump in office.
Persons: Rudolph W, Giuliani, John Catsimatidis, Mr, “ We’re, ” Mr, Catsimatidis, , Donald J, Trump’s, Trump Organizations: WABC, New York City Locations: New York
That shakiness around when the cuts are coming, as well as the expectation that rates could remain higher for longer creates an opportunity for active managers. Rick Rieder, BlackRock's global chief investment officer of fixed income, told CNBC in a phone interview. Indeed, core bond funds were among the winners in the 2008 crisis. For starters, they should think about the role they want a given bond fund to play within their portfolio: Is it to offset equity risk or to boost returns? "You're not investing in bond funds to shoot the lights out and build your wealth pile," said Morningstar's Jacobson.
Persons: Rick Rieder, Rieder, Eric Jacobson, Morningstar, John Croke ,, Morningstar's Jacobson, Jaime Quinones, they're, Quinones Organizations: Federal Reserve, Barclays, Bank of America, Citigroup, CNBC, Bloomberg, SEC, Morningstar, Vanguard, Stockade Wealth Management, Mutual Locations: Marlboro , N.J
The earnings season is winding down, but there are some names slated to report that could see big moves — in either direction. Already, more than 80% of companies in the S & P 500 have already posted quarterly results this earnings season as of Monday morning. Against that backdrop, CNBC Pro screened for names reporting this week — with market caps of $1 billion or more — that could experience sharp up- or downside moves, based on trading activity in the options market. Here are the names that made the list: Upstart Holdings is the reporter this week that could be in for the biggest move at nearly 19%. Rideshare stock Lyft also made the list.
Persons: Uber, America's Mihir Bhatia, Bhatia, Lyft, LSEG, Jefferies, John Colantuoni, Colantuoni, Bank of America's Jessica Reif Ehrlich, Ehrlich, WBD Organizations: Disney, CNBC Pro, Holdings, LSEG, Bank, America's, Warner Bros, Bank of America's Locations: California
Body camera footage of the police fatally shooting a 19-year-old Queens man in his kitchen in March shows what the police had described as a “chaotic” situation. But the video, released Friday, also renewed criticism of the decision to open fire on the man, who was holding scissors and seemed to be in mental distress. The man, Win Rozario, was declared dead at a hospital after the shooting on March 27, the police said. The New York attorney general’s office released the footage from body-worn cameras as part of its investigation into the shooting. The shooting occurred about three minutes after the officers, Matthew Cianfrocco and Salvatore Alongi, arrived at the scene, according to their videos.
Persons: Win Rozario, Rozario’s, Rozario, John Chell, Matthew Cianfrocco, Salvatore Alongi, Chell, Organizations: The New, Mr, Police Locations: The New York, Ozone
Though the music festival begins this month and tickets are going quickly, there are still a few avenues for how to buy Bottlerock Napa Valley 2024 tickets. If you're still wondering how to buy tickets to BottleRock Napa Valley 2024, we've got you covered. BottleRock Napa Valley 2024 scheduleFour different types of tickets can be purchased for the three dates of BottleRock Napa Valley's festival. Date City StubHub prices Vivid Seats prices Time May 24, 2024 Napa, California $186 $174 12 p.m. May 25, 2024 Napa, California $160 $173 12 p.m. May 26, 2024 Napa, California $191 $207 12 p.m. May 24–26, 2024 Napa, California $250 $244 12 p.m.How to buy tickets for BottleRock Napa Valley 2024 music festivalSince BottleRock Napa Valley 2024 tickets went on sale in January, the number of remaining original tickets is extremely limited. Very few original BottleRock Napa Valley 2024 tickets remain, which means there's only one price available on the festival's site.
Persons: Tom Petty, Stevie Wonder, Miley Cyrus, Stevie Nicks, Pearl Jam, Ed Sheeran, Megan Thee, we've, Vincent, Nelly, Miike Snow, Bebe Rexha, Jessie Murph, Gogol, Loveless, Pete Yorn, Royal Otis, The Moss, Chris Shiflett, Grace Bowers, Alexsucks, Con Brio, Akira Galaxy, Sage Bava, Kali Uchis, Oliver Tree, Holly Humberstone, Jack Kays, Mondo Cozmo, John Cruz, Linka Moja, Grace McKagan, Mama Said, DJ, Queens, Dominic Fike, Norah Jones, Stephen Sanchez, Bronson, Stephen Marley, Talib Kweli, Monsieur Periné, Brittany Davis, Forrest Day, Jane Leo, Jared Harper, Naima, Sophia Zamani Organizations: Business, Sunday, Vivid, Pearl, Record Company, Napa Valley Youth, Colony, Rebels, Silverado Locations: Northern California, Napa, Napa Valley, California, BottleRock, StubHub, Royal, The, Colony House, Mononeon, Tors
The U.S. economy is flashing a sign that's favorable for dividend stocks, according to Bank of America. In this environment, investors want to own dividend stocks with above-market yields, she said. For those characteristics, she looks to quintile two of the Russell 1000 by trailing dividend yield. Her screen guards against owning distressed companies that might move into the first quintile, the highest dividend yield group, if prices fall ahead of potential dividend cuts. APA has a 3.1% dividend yield, while HF Sinclair yields 3.5%.
Persons: Savita Subramanian, Subramanian, Russell, Jeffrey Martin, CNBC's Jim Cramer, John Christmann Organizations: Bank of America, Bank of, AES, APA, Sinclair, Callon Petroleum, CNBC, Citigroup, Citi Locations: U.S
Costco's new CFO won't inherit his predecessor's parking spot, as he hasn't served enough time there yet. Some employees have stayed at the company for over 30 years, and several execs started out working on the shop floor. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCostco's CFO, Robert Galanti, retired in March after 40 years at the company, but the new CFO won't be so quick to fill in his parking spot. Reserved parking spaces at Costco are based on tenure rather than seniority, The Wall Street Journal reported.
Persons: hasn't, , Robert Galanti, Gary Millerchip, Galanti, Ron Vachris, Todd Thull, John Conlon, he's, Craig Jelinek, " Jelinek, didn't Organizations: Costco, Service, Street Journal, Business Locations: Costco, Issaquah , Washington
A troubled veteran stalked a high-profile former F.B.I. official at her house in Washington last year — just weeks after the bureau determined he did not pose an imminent threat despite his documented obsession with guns and mass shootings, investigators said. lawyer, Lisa Page, who became a persistent target of President Donald J. Trump after her text messages became public in 2017, attended Mr. Perez’s hearing in the Superior Court of the District of Columbia. She asked the judge for more stringent restrictions and accused the bureau of failing to warn her of the possible threat posed by Mr. Perez. During one visit, he interacted with Ms. Page’s 11-year-old son.
Persons: , John C, Perez, Lisa Page, Donald J, Trump, Mr, Page’s Organizations: ex, Marine, District of Columbia, Metropolitan Police Department Locations: Washington, California, Superior
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStripe Co-Founder John Collison on AI enthusiasm in a new interest rate environmentStripe President and Co-Founder John Collison joins CNBC's Kate Rooney at Stripe Sessions 2024 to talk how higher interest rates impact Silicon Valley, and where Stripe stands as the IPO market regains momentum.
Persons: John Collison, CNBC's Kate Rooney
Rising interest rates crushed technology valuations and had a chilling effect on Silicon Valley. Stripe had to take a major haircut along with the rest of the industry as soaring inflation and rising interest rates, starting in 2022, pushed investors out of the riskiest assets, lifted borrowing costs and and forced startups to tighten their belts. "Valuations are a product of interest rates," Collison said. While many tech companies took a hit in 2022 and 2023, Collison said the rising interest rate environment succeeded in flushing out the "wackiest" startup ideas, leaving the best ones to get funded. He pointed to an "overfunding" of marginally good ideas, and "zombie companies" taking too long to go bust.
Persons: John Collison, Collison, Patrick, Elon, We're, Jerome Powell Organizations: CNBC, SpaceX, Wall Street Journal, Federal Locations: Silicon Valley
His most famous piece is “4’33”,” which directs us to listen in silence to surrounding noise for exactly that period of time. I thought about what would have happened if protesters were instead chanting anti-Black slogans, or even something like “D.E.I. They would have lasted roughly five minutes before masses of students shouted them down and drove them off the campus. I’d wager that most of the student protesters against the Gaza War would view them that way, in fact. Why do so many people think that weekslong campus protests against not just the war in Gaza but Israel’s very existence are nevertheless permissible?
Persons: John Cage, , Israel’s, Jewish Organizations: Columbia University Locations: Gaza
The American Kennel Club's pedophile problem
  + stars: | 2024-04-23 | by ( Katherine Long | ) www.businessinsider.com   time to read: +26 min
The mother contacted the American Kennel Club, the organization that oversees most dog shows in the country. The AKC helps local kennel clubs enforce rules about conduct and animal treatment. The bulk of the organization's income comes from the dog-show community, in the form of event and registration fees paid by local kennel clubs and breeders. The debate is taking place as kennel clubs try to entice younger children to show dogs. Many dog shows include competitions for junior handlers, including a "Pee Wee" division for kids under the age of 10.
Persons: Adam Wilkerson, She'd, Wilkerson, , It's, Brandi Hunter Munden, Munden, eyeing, Andrew Mansfield, Mansfield, Walter Palmerino, Palmerino, I'm, John Cathcart McCartney, McCartney, Eugene Zaphiris, Zaphiris, he's, Adam Stafford King, King, Jacob Boudreau, Boudreau, Dennis, Margaret Poindexter, Deb Cooper, Ashley Miller, Miller, Shimpeno's, Shimpeno, Mary Dukes, Dukes, they've, it's, Susan Shephard, West Volusia Kennel Club Shephard, hadn't, Shephard, Tonda Curry, Curry, who's, Paige McCarver, groomer, McCarver, She's, we're, Wilkerson's, she's Organizations: Westminster Kennel, Business, BI, American Kennel Club, AKC, Getty, Dog, Wisconsin, Police, American Kennel, Grand Central, Purina, ABC, ESPN, AKC Canine Health Foundation, AKC Museum, Preservation Bank, Mars, Royal, Dog News, Kids, Florida's West Volusia Kennel Club, West Volusia Kennel Club, Boy Scouts, New York Times, US Equestrian Federation Locations: Dallas, Michigan, Florida, Louisiana, Massachusetts, American, Wee, Munden, Texas, Arizona
To the Editor:Re “After Arrests at Columbia, Students Face More Fallout” (news article, April 21):As parents of students suspended by Columbia University and Barnard College, we write to express our outrage. Among the evicted are lower-income students, students of color, students with disabilities and first-generation students. The security of students has been further compromised by vicious doxxing. We question the legality of much of what Columbia and Barnard have done in the last few days and fear for our children’s safety. While we parents come from a variety of religious faiths and social backgrounds, we are all invested in our children’s well-being and education.
Persons: John Chell, Barnard Organizations: Columbia, Columbia University, Barnard College, New York Police Department, Columbia Daily Spectator Locations: Columbia
We're pretty sure Kerry was executed there exactly two months later, in October 1978. So we had a memorial for Kerry, and then a few months later, John took his life. Rob Hamill rowing. Rob Hamill with Phil Stubbs, his teammate in the inaugural Atlantic rowing race in 1997. We got married about six months later, in 2001.
Persons: , Rob Hamill, Pol Pot, Kerry, Kerry Hamill, Rob Hamill Kerry, Stuart Glass, Stuart, John Dewhirst, John, Hamill, who'd, Phil Stubbs, Phil, Comrade Duch, Pot, Rachel, Finn, Declan, Ivan, Rob Hamill's, Renee Whitaker, Hamill's, Finn didn't, We've Organizations: Service, Business, Navy, Atlantic, New Zealand, Pacific Locations: New Zealand, Khmer Rouge, Communist, Cambodia, Australia, Darwin, Khmer, Malaysia's, Kerry, Phnom Penh, Asia, Tenerife, Barbados, Ireland, New, Thailand, Angkor Wat
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