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A sexual abuse lawsuit alleges Sean Combs raped a 10-year-old boy at an audition in NYC in 2005. The lawsuit alleges the child was given a soda to drink, then lost consciousness. "You have to do some stuff you don't want to do sometimes," the lawsuit alleges Combs soon told him, pushing him down. Combs replied that if Plaintiff told anyone about what had happened, he would hurt Plaintiff's mom and dad badly," the lawsuit alleges. The federal indictment alleges Combs used his position of power to carry out crimes.
Persons: Sean Combs, Combs, , Sean, Diddy, Plaintiff, we've, Sean John Organizations: Service, Plaintiff, Buzbee, Bad Boy Records, Combs Enterprise, Combs Locations: New York City, California, New York, Manhattan's, Los Angeles, Brooklyn
A delegate arrives at the King Abdulaziz Conference Centre in Saudi Arabia's capital Riyadh to attend the Future Investment Initiative (FII) forum. The kingdom's $925 billion sovereign wealth fund, the Public Investment Fund, saw its assets jump 29% to 2.87 trillion Saudi riyals ($765.2 billion) in 2023 — and local investment was a major driver. "Value meaning hiring, developing the asset management ecosystem, creating new products, bringing in talent, and investing in Saudi capital markets also. Oil prices and the Saudi economy appear to so far have stayed largely unscathed, dropping 4% early Monday after Israel's weekend strike on Iran. A key reason for that may be the rapprochement deal the kingdom signed with Iran, brokered by China, in March 2023.watch now
Persons: Nureldine, it's, Omar Yacoub, Yacoub, Fadi Arbid, Brent, Arbid, Yemen's, Israel Organizations: King Abdulaziz Conference Centre, Future Investment Initiative, Afp, Getty, Investment Initiative, CNBC, U.S, ABS Global, Public Investment Fund, Saudi, Saudi Arabia's, Amwal Capital Partners, OPEC, Eastern, Ritz, Carlton, Israel Locations: Saudi Arabia's, Riyadh, Saudi, Saudi Arabia, , Dubai, Carlton Riyadh, Gaza, Israel, Lebanon, Iran, Tel Aviv, China
The Taiwan Semiconductor Manufacturing Co. (TSMC) building at the Central Taiwan Science Park in Taichung, Taiwan, on Friday, April 8, 2022. Taiwan Semiconductor Manufacturing Company suspended shipments to China-based chip designer Sophgo after a chip it made was found on a Huawei AI processor, according to two people familiar with the matter. Sophgo had ordered chips from TSMC that matched the one found on Huawei's Ascend 910B, the people said. Reuters could not determine how the chip ended up on the Huawei product. Tech research firm TechInsights discovered the TSMC chip on Huawei's Ascend 910B when it took apart the multi-chip processor, a different source told Reuters on Tuesday.
Persons: Sophgo, TechInsights, TSMC Organizations: Taiwan Semiconductor Manufacturing Co, Central Taiwan Science, Taiwan Semiconductor Manufacturing Company, Huawei, Reuters, TSMC, U.S . Department of Commerce, Taiwan Locations: Taichung, Taiwan, China, Tech
Apple’s AI features for iPhones will be available for free to users with any iPhone 16, iPhone 15 Pro and Pro Max, who update to iOS 18.1. Apple Intelligence is also available for iPad and Mac models that support iPadOS 18.1 and macOS Sequoia 15. The AI features rolling out with iOS 18.1The Apple Intelligence features rolling out Monday include improvements to writing and editing, Siri and the Photo app. “Some market participants are optimistic that Apple Intelligence could dramatically boost iPhone shipments soon,” Kuo said in the blog post. Following Apple's new product announcements, customers can pick up the new iPhone 16, 16 Plus, 16 Pro and 16 Pro Max, Apple Watch Series 10, AirPods 4, AirPods Pro 2 and AirPods Max from UK Apple Stores today.
Persons: Pro Max, Siri, Angelo Zino, Dan Ives, ” Ives, didn’t, Chi Kuo, Kuo, ” Kuo, Max, Peter Nicholls, , Wedbush’s Ives, CFRA Research’s Zino, ” Zino, Apple’s Organizations: CNN — Apple Intelligence, Apple Intelligence, Pro, Microsoft, Google, Apple, Developers Conference, Big Tech, Apple Apple, CFRA Research, CNN, Wedbush Securities, TF International Securities, Regent, AirPods, Apple Stores Locations: London, England
Income investors have a lot riding on the outcome of next week's presidential election, according to RBC Global Asset Management. Positioning if Harris wins A win by Harris would be constructive for fixed-income, Skiba said. With money markets close to multi-year highs, there is a lot of money that investors can put to work, he noted. There is $6.51 trillion sitting in money market funds as of the week ended Oct. 23, according to the Investment Company Institute . "There actually might be a window of opportunity for fixed-income investors to reposition their portfolios without too much pain incurred in the process," Skiba said.
Persons: Andrzej Skiba, Donald Trump, Trump, Kamala Harris, Skiba, Harris Organizations: RBC Global Asset Management, Federal, Trump, Investors, Investment Company Institute Locations: U.S
Gen Z is taking the reins on family trips, taking charge of destinations and what hotels to book. But this is increasingly changing, and Gen Zers and adult kids aren't just tagging along on these trips; they're calling the shots and organizing the family vacations themselves. AdvertisementLuxury travel agents say Gen Z isn't holding back with their family vacation requests. Many Gen Z travelers are molding their family vacations off what they see on social media and by what they want to post. AdvertisementWhen the client's kid becomes the clientAs a self-proclaimed "geriatric millennial," Carter has mixed feelings toward the growing influence of Gen Z on luxury family travel.
Persons: Z, , Gen Zers aren't, Julia Carter, Gen Zers, Gen, Carter, IPGGutenbergUKLtd, Diana Hechler, Coppola, Hechler, Kardashian, I've Organizations: Service, Craft Travel, Travel Locations: South Africa, COVID, Belize, Republic of Congo, London, Paris
And how should investors be thinking about future equity returns as the bull market enters its third year riding stellar multi-year performance and facing demanding valuations? So, expansionary policies that would quicken the economy's metabolism and produce more inflation was exactly what the market craved then – but now? Right now, the S & P 500 is up 42% from 18 months ago and fetches 22-times expected earnings. No reliable augurs of a coming bear market are in evidence: S & P up 10 of 11 months, making a new high in September, credit spreads resolutely narrow, all point to an upside bias over a span of months, at least. .SPX YTD mountain S & P 500, YTD Which leaves the question of just how much upside, if any, a bull should reasonably expect from here.
Persons: Warren Pies, Pat Tschosik, Ned Davis, Donald Trump, payrolls, Harris, Goldman Sachs, Goldman Organizations: Federal Reserve, Treasury, Fed, 3Fourteen Research, Trump, Ned, Ned Davis Research, Dow, Leuthold, quicken, Wall Locations: U.S, China, Wells
Boeing's still-new CEO, Kelly Ortberg, faces urgent challenges, including a worker strike. Ortberg is focusing on communication, trust, and future innovation at Boeing to get the company on the right path. Ortberg, in a letter released to employees along with the company's third-quarter results, said Boeing's customers want — and need — the company to succeed. "With the right focus and culture, we can be an iconic company and aerospace leader once again," he wrote. "When you feel that the CEO is with you, and the CEO is feeling your pain, it makes it more tolerable and provides hope for the future," Franklin said.
Persons: Boeing's, Kelly Ortberg, Ortberg, , we've, Bill George, George, he's, Rosalind Franklin, Boyden, Franklin, Jeffrey Sonnenfeld, who's, Mary Barra, Alan Mulally, Sonnenfeld, haven't, Richard Aboulafia, they're, Aboulafia Organizations: Boeing, Service, Harvard Business School, Yale School of Management, Yale's, Leadership, General Motors, Ford, GM Locations: Seattle
China's steel exports will soon hit an eight-year high, before sweeping tariffs sink in and drag down the industry in 2025, industry watchers said. As the biggest exporter of steel, China accounts for about 55% of the world's steel production. Strategists at Macquarie Capital predicted that China's steel exports will reach 109 million tons this year, before declining to 96 million tons in 2025. Trade tariffs could further curb China's steel exports, "albeit this may require a while to play out," analysts from the the investment bank told CNBC. After hitting a record high of 112 million tons in 2015, the country's steel exports had been on a multi-year slide before it started improving in 2020.
Persons: Ren Zhuqian Organizations: Science & Technology, Macquarie Capital, CNBC, Citigroup, Steel Locations: JIUJIANG, CHINA, Jiujiang, Jiangxi Province, China
Drew Angerer/AFP/Getty ImagesObama is fired up and ready to goObama is feeling “the fierce urgency of now” again. “We do not need to see what an older, loonier Donald Trump looks like with no guardrails,” Obama said this week in Detroit. No president, no vice president, no senator, no governor is going to solve every problem,” Obama said in Madison, Wisconsin, this week. I think it should happen.”Yet for all his political skills, Obama has sometimes been unable to transfer his idiosyncratic appeal to other leaders. Former first lady Michelle Obama – who has become a female icon – will campaign with Harris on Saturday in Michigan.
Persons: Barack Obama, Bruce Springsteen, Obama, Kamala Harris, Springsteen, , Harris, Donald Trump, ” Obama, John Kelly, he’d, Adolf Hitler, Trump, , wouldn’t, Hitler, ” Harris reminisced, Obama’s, Barack Obama’s, Drew Angerer, He’s, loonier Donald Trump, ” Trump, It’s, Joe Biden, Obamaism, we’ve, “ We’re, We’re, everything’s, ” Harris, Joe Raedle, Bill Clinton, That’s, Harris –, Kristen Roland, ” Roland, Kamala, ” Roland doesn’t, Janavus Davis, Davis, ” Davis, couldn’t, Hillary Clinton, Sen, George W, John Kerry, David Urban, Clinton, Jon Bon Jovi, ” Urban, CNN’s Erin Burnett, Michelle Obama –, Organizations: CNN, Democratic, Republican nominee’s, White House, Getty, Trump, Obama, White, CNN CNN, Republican Locations: Cleveland, Georgia, United States, American, Las Vegas, Clarkston, Atlanta, Springfield , Illinois, Clarkston , Georgia, AFP, , Pittsburgh, Tucson, Detroit, Madison , Wisconsin, Oakland County , Michigan, America, Michigan, Iraq, New Orleans, Bush, Pennsylvania, Philadelphia
UBS says buy this homebuilder with more than 25% upside
  + stars: | 2024-10-25 | by ( Sean Conlon | ) www.cnbc.com   time to read: +1 min
Analyst John Lovallo initiated coverage on the stock with a buy rating, with his price target of $232 implying more than 27% upside from Thursday's close. Lovallo joins 11 other analysts covering the stock on Wall Street who have a strong buy or buy rating, per LSEG. Within that same time, he also sees adjusted earnings growing roughly 16% annually and mid-to-high single-digit organic revenue growth. "We believe BLDR is uniquely positioned to grow with its homebuilder customers and drive above market organic growth through its size/scale advantage and idiosyncratic growth initiatives, including the digital platform rollout," Lovallo also said. BLDR YTD mountain BLDR, year-to-date The stock rose around 1% in premarket trading Friday after his move.
Persons: John Lovallo, Lovallo Organizations: UBS, Wall Locations: FirstSource, U.S
A Democratic super PAC is hitting the airwaves in Texas, looking to boost Rep. Colin Allred by focusing on abortion in his underdog but increasingly competitive race against GOP Sen. Ted Cruz. Democrats haven't won a statewide race in Texas in 30 years, though they have forced some close contests in recent elections. “In such an important election, Senate Majority PAC is determined to make sure Texans understand the choice facing them this November. Rep. Colin Allred, D-Texas, at an early voting center in Dallas, Texas, just before he voted. Cruz and McConnell have a tumultuous history in the Senate, particularly after Cruz called McConnell a “liar” on the Senate floor in 2015.
Persons: Colin Allred, GOP Sen, Ted Cruz, Democrats haven't, Nancy, , Ted Cruz’s, ” Nancy, that’s, JB Poersch, Cancún Cruz, ” Cruz, Allred, Kamala Harris, , Colin Allred’s, Donald Trump, Cruz, Beto O’Rourke, Sen, Frank Thorp V, “ He’s, ” Allred, Wade, “ I’m, Mitch McConnell, McConnell, they’ve, Harris, Beyonce, who’s Organizations: Democratic, PAC, GOP, Houston, NBC News, Republican, Democrats, Texans, Texas, Former Democratic Rep, NBC, Leadership Fund, Labor, NBC News Republicans, Courage PAC, Social Security Locations: Texas, Dallas, San Antonio, Montana and Ohio, Pearland , Texas, Cancun, Ky, Dallas , Texas, Washington, , Houston
Live Nation Entertainment's efforts to develop venues are an additional growth driver for an already strong company, according to JPMorgan. The firm reiterated an overweight rating on the entertainment stock and raised its price target to $137 per share from $118. "A global leader in live entertainment, ticketing, and talent management services, we see Live Nation as a multi-year free cash flow growth story supported by a management team focused and compensated on continued monetization of artist, tour, and venue content," the analyst added. Of the 22 covering the stock, 18 have either a buy or strong buy rating on it, per LSEG. LYV YTD mountain LYV year to date
Persons: David Karnovsky Organizations: JPMorgan, Investment, Ticketmaster
Dr. Andrea Maier is a health and longevity expert in Singapore who practices what she encourages her patients to do for longevity. Dr. Andrea Maier is a health and longevity expert with nearly 25 years of experience in the field of geroscience, where she studied what aging is and why we age. CNBC Make It interviewed Maier about her personal habits for longevity and what she does to stay happy and healthy. Maier: I think brain health is very underestimated. We also know that for longevity it's important to have and maintain positive relationships in your life.
Persons: Andrea Maier, Maier, she's, it's, That's, It's, I've, Coke, I'm Organizations: CNBC, BBC, New York Times Locations: Singapore, Paris, Berlin
The S & P 500 suffered its first three-day decline since early September. Chief market technician Jonathan Krinsky noted a "decent probability" the broad market index could fall as much as 5% to roughly 5,500 in coming weeks. The S & P 500 has pulled back this week from record highs reached just Oct. 17. Krinsky pointed to the recent move higher in Treasury yields as the key catalyst. Elsewhere on Wall Street this morning, JPMorgan reiterated Live Nation with an overweight rating and raised a $137 price target, implying upside of more than 19%.
Persons: BTIG, Jonathan Krinsky, Krinsky, Tesla Organizations: UPS, JPMorgan
Below, two gold experts share four ways investors can add gold to their portfolios. AdvertisementIn general, physical gold is a less liquid way to own the asset and is quite costly. Synthetic gold ETFs don't hold physical gold, investing instead in gold derivatives such as futures and options. In Milling-Stanley's opinion, investing in mining stocks instead of directly investing in gold erodes some of the metal's portfolio protection, as mining stocks behave more in line with the general equity market. Royalties limit the holder's exposure to the risks associated with directly investing in mines, such as exploration, development, and regulatory compliance.
Persons: , Jeff Muhlenkamp, they'll, George Milling, Stanley, Muhlenkamp Organizations: Service, Costco, Muhlenkamp & Company, State Street Global Advisors, Trust, MiniShares, Mining, Eagle Mines, Newmont Mining Corp, Wheaton Precious Metals Locations: Franco, Nevada
The remains of an unidentified missile, which Ukrainian authorities claimed to be made in North Korea, is seen at a site of a Russian strike in Kharkiv, Ukraine on January 2. China, Russia and Iran have also held four joint naval drills since 2019, and China is by far Iran’s largest energy buyer. Beijing also carefully manages its relationship with North Korea – which is almost wholly economically and diplomatically dependent on China. “Russia, North Korea, Iran is the type of grouping that China least wants to openly associate itself with,” said Tong Zhao, a senior fellow at the Carnegie Endowment for International Peace. An Iranian military boat patrols ahead of the start of a joint naval drill of Iran, Russia and China in the Indian Ocean in May.
Persons: They’ve, Lloyd Austin, George W, Bush’s, , Kim Jong, Kim, there’s, what’s, Bashar al, Assad, Israel –, Xi Jinping, Putin, Alex Gabuev, Sofiia Gatilova, Xi, Loup, , Tong Zhao, Zhao, Sydney Seiler Organizations: Hong Kong CNN, Korean, Moscow’s, US, North, West, Carnegie Russia Eurasia Center, China’s, National University of Singapore’s Middle East Institute, Carnegie Endowment, International Peace, Iranian Army, AP, UN, National Defense Strategy, NATO, Center for Strategic, International Studies Locations: Hong Kong, Russia, Ukraine, United States, Tehran, China, Iran, North Korea, Washington, Europe, Pacific, Nazi Germany, Fascist Italy, Imperial Japan, Iraq, South Korea, Pyongyang, Syria, Beijing, Moscow, Berlin, Kharkiv, Kazan, Israel, Jean, South, Taiwan, “ Russia, , Iranian, Asia, Australia, Japan, New Zealand, North Asia, Sydney
The aircraft will fly North Atlantic patrols to counter the growing Russian submarine threat. AdvertisementGerman submarine-hunting aircraft will be based in the UK and will fly patrols over the North Atlantic amid a rise in Russian underwater military activity in the area. Jesenia LandaverdeSeveral countries, including a number of NATO allies, operate the P-8, a derivative of the civilian 737. Related storiesThe Trinity pact comes amid a rise in Russian submarine and underwater activity, a development that has long concerned NATO. The UK government said the Trinity pact "will strengthen national security and economic growth in the face of growing Russian aggression and increasing threats."
Persons: , Jesenia, Trinity, Tony Radakin, Christopher Cavoli, we've, ADALBERTO ROQUE, Boris Pistorius Organizations: Service, NATO, Royal Air Force, Boeing, US Navy, Navy, US Air Force, Staff, British, Getty, Trinity, Ukraine Locations: Germany, Trinity, Lossiemouth, Scotland, Russian, Europe, Cuba, Havana's, North, Ukraine, Russia, Moscow, Eastern Europe
CNN —The federal government is slapping American Airlines with a $50 million fine after a multi-agency investigation uncovered repeat violations of the rules designed to protect airline passengers who use wheelchairs. The investigation by the Department of Transportation aided by the Justice Department’s civil rights division found that American made “numerous serious violations” of disabled passenger rules between 2019 and 2023. “These problems are not unique to American Airlines, and allegations of wheelchair mishandling and inadequate wheelchair assistance are far too common,” said the Department of Transportation announcement. “DOT has active investigations into similar violations at other US airlines.”Buttigieg said the fine is the largest ever of its type. If the agency finds that American does not meet that requirement, it will fine it the airline the remaining $25 million.
Persons: Pete Buttigieg, ” Buttigieg, Organizations: CNN, American Airlines, Department of Transportation, Justice, Transportation, American
However, real estate — specifically the commercial side — may be poised to take off. "This is absolutely the largest generational opportunity to invest in real estate in a long time," Issar said at the conference. "This is a time for investors to step in, move into attractive pricing, move into asset classes like non-core real estate." Investors can bet on a commercial real estate rebound by working with JPMAM's team, or on their own through publicly traded real estate investment trusts (REITs). "That is the modernization of the new direct real estate that is going to be really attractive for investors in the future."
Persons: Goldman Sachs, , Goldman Sachs Goldman Sachs, they're, That's, David Kelly, what's, JPMAM, Kelly, David Lebovitz, Monica Issar, Issar Organizations: JPMorgan Asset Management, Service, Asset Management, Management, JPMorgan Private
Taiwan Semiconductor Manufacturing Company has denied that the U.S. was investigating its dealings with Chinese tech company Huawei, following reports that its chips were found in the Shenzhen-based firm's products. Tech-focused publication The Information had reported last week that the Commerce Department was probing whether TSMC had been making AI or smartphone chips for Huawei, in violation of U.S. export rules. We are not aware of TSMC being the subject of any investigation at this time," the TSMC spokesperson added. TSMC, which is the world's largest contract chip manufacturer, said that it has not supplied chips to Huawei since mid-September 2020. Citing anonymous sources, the report claimed the discovery was made after tech research firm TechInsights took apart a Huawei product and found a TSMC chip as part of its multi-chip system.
Persons: TSMC, TechInsights, TSMC's Organizations: Taiwan Semiconductor Manufacturing, New York Stock Exchange, Taiwan Semiconductor Manufacturing Company, Huawei, CNBC, Wednesday . Tech, Commerce Department, U.S . Commerce Department, Reuters, . Locations: U.S, Shenzhen
World Series tickets are the most expensive ever
  + stars: | 2024-10-23 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +2 min
New York CNN —Tickets for this year’s highly anticipated World Series between the New York Yankees and Los Angeles Dodgers are set to be the most expensive ever. Tickets for the 2023 Series, in which the Texas Rangers clinched their first championship, cost about $776 on average across five games, TickPick said. The previous most expensive World Series was in 2016 between the Chicago Cubs and Cleveland, when the average ticket cost $1,691. It’s also the first time in more than four decades that the Yankees and Dodgers will meet in the World Series, since a 1981 matchup. The Yankees have won the most World Series championships at 27, while the Dodgers won the World Series four years ago and have won seven championships total.
Persons: TickPick, Shohei Ohtani, Aaron Judge, It’s Organizations: New, New York CNN, New York Yankees, Los Angeles Dodgers, Texas Rangers, Chicago Cubs, Cleveland, Los Angeles —, Dodgers, Yankees, Fox, Fox Sports, Fox Deportes —, TBS, CNN, Warner Bros, AL, Cleveland Guardians, Max Locations: New York, Los Angeles
Former President Donald Trump will sit with Joe Rogan for a taping of his podcast in Austin, Texas, on Friday, according to two sources familiar with the planning. "The Joe Rogan Experience" has reigned for years as one of the most popular podcasts in all of media, particularly among young men, who have been key targets of the Trump campaign. "The Joe Rogan Experience" has received criticism over the years after Rogan spread misinformation about Covid, used racial slurs and made antisemitic comments. In February, Rogan and Spotify inked a multi-year deal that would allow the podcast host to bring "The Joe Rogan Experience" to other audio platforms. According to Spotify, it is currently the platform's popular podcast.
Persons: Donald Trump, Joe Rogan, Trump, Kamala Harris, Ben Shapiro, Adin Ross, Theo Vonn, Andrew Schulz's, Akaash Singh, Rogan, Sen, Bernie Sanders, Trump's, Robert F, Kennedy Jr, I’m Organizations: Spotify Locations: Austin , Texas, Texas, Houston , Texas
CNN —The hottest revival trend in travel for 2025? That would be “fun,” according to National Geographic editor-in-chief Nathan Lump, who spoke exclusively to CNN ahead of the Tuesday reveal of Best of the World 2025, the brand’s annual list of the most thrilling and purposeful travel experiences for the year ahead. Cork has “always been a fun city with a vibrant culture … and an incredibly warm local population,” says Lump. Big-hitters with new attractionsThere are also some destinations on the list that are never short of a visitor or two, such as Bangkok and Los Angeles. In the Thai capital, National Geographic is highlighting the ongoing restoration work at Wat Chaiwatthanaram, a 17th-century Buddhist temple and one of the country’s most important monuments.
Persons: Nathan, , That’s, It’s, “ Oppenheimer, Cillian Murphy, George Lucas, , “ we’ve, it’s, Kanazawa Organizations: CNN, National Geographic, Teatro, Basque Block, Geographic, Wat, Lucas Museum, “ Star, Oriental Express, Malaysia, Malayan Locations: Guadalajara, Mexico, Boise , Idaho, Basque, United States, Cork, Bangkok, Los Angeles, Thai, Wat Chaiwatthanaram, , , Crenshaw, Exposition, British Columbia, Guatemala, India, Antigua, Ladakh, Greenland, North America, Japan, Kanazawa, Kyoto, Florida, Sweden, Tunisia, Indonesia
CNN —Russian operatives created and amplified false online content attempting to smear Democratic vice presidential candidate Tim Walz, US intelligence agencies said on Tuesday. The statement was based on newly available intelligence and analysts worked over the weekend to analyze the media content, the official said. Some posts circulating the fake content on X garnered hundreds of thousands of views and were amplified by right-wing personalities. The Harris-Walz campaign has expressed concern that media coverage could amplify the false Russian claims. US intelligence officials will also be closely watching Iranian operatives after Election Day.
Persons: Tim Walz, , Donald Trump, Kamala Harris, Trump, Harris, Walz, “ Vladimir Putin, ” Harris, Morgan Finkelstein, , Trump’s Organizations: CNN, Russian, Democratic, National Intelligence, Trump, Justice Department Locations: Russia, Iran
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