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In this photo illustration a DarkTrace logo is displayed on a smartphone with stock market percentages in the background. LONDON — British cybersecurity firm Darktrace on Friday announced it had agreed a sale to U.S. private equity giant Thoma Bravo, for an all-cash offer of $5.315 million. Darktrace shares were 17% higher at 10:26 a.m. London time. Darktrace was founded in 2013 and is based in the U.K. city of Cambridge, which has attracted a cluster of tech firms over the last decade. Darktrace on Friday said it had rejected previous unsolicited proposed offers from Thoma Bravo because the tech company assessed they did not fairly value the business.
Persons: Darktrace, Thoma, Thoma Bravo, Mike Lynch Organizations: Thoma Bravo, London Stock Exchange Locations: London, U.S, Asia, U.K, Cambridge, Darktrace, Thoma
Their bodies were discovered days later in some woods off a rural road in Telfair County, and their SUV was found submerged in a nearby lake. He is accused of killing the couple in Telfair County, Georgia. The suspect had the “last known communications” with Bud Runion, then-Telfair County Sheriff Chris Steverson said at the time. “The entire communication he had with Mr. Runion was deceptive,” Telfair County Sheriff Chris Steverson said at the time. Telfair County deputies launched air and water searches for the couple, and contacted land owners in the area to ask if they’d seen anything suspicious.
Persons: Elrey, Bud ” Runion, Runion, Ronnie “ Jay ” Adrian Towns, Ronnie Adrian, Jay, Kent D, Johnson, Bud Runion, Chris Steverson, Tim Vaughn, Towns, , they’d, Mark Walker, Jason Hoffman, Bud, David Goldman, ” Walker, , I’m, “ Bud, Ronnie Towns, , ain’t Organizations: CNN, Ford, Craigslist, GMC, US Army, Towns, Georgia Bureau of Investigation, Authorities, Atlanta, AP Locations: Vietnam, Georgia, McRae, Atlanta, Telfair County, Towns ’, Towns, Telfair County , Georgia, Telfair, Oconee, ” Telfair, Marietta , Georgia, Marietta, Goergia
The last time new iPads were released was in 2022, when some models got a refresh, including a standard 10th-generation iPad and iPad Air and Pro models. AdvertisementNew iPad Pros with OLED displaysThe expected upcoming iPad Pros could be quite a significant update. At the same time, OLED displays could hike the minimum price even further for the iPad Pro models, which are already the most expensive devices among the best iPads, starting at $799. The iPad Air has only been available in a 10.9-inch model to this point. The whole package could make the iPad Pro and Magic Keyboard combination look similar to a Mac laptop.
Persons: Bloomberg's Mark Gurman, Gurman, Antonio Villas Organizations: Business, Apple, Air, Boas
The big storyTick-tock on TikTokChelsea Jia Feng/BITikTok's time in the US could soon be on the clock. When it's all said and done, a TikTok ban could be in place before the week's end. Business Insider's Peter Kafka explains why the TikTok ban, while more imminent than ever, still has a long way to go . A TikTok ban would benefit one familiar face in social media, though, writes BI's Katie Notopoulos . YouTube Shorts, too, stand to grab more attention after a TikTok ban.
Persons: , Caitlin Clark's, Chelsea Jia Feng, ByteDance, Joe Biden, it's, Business Insider's Peter Kafka, Michael Beckerman, TikTok, hawking, BI's Lindsay Dodgson, outperforming, Katie Notopoulos, Merrill Lynch, Tyler Le, Andy Sieg's, Merrill, Lindsay Hans, Eric Schimpf, It's, Steve Cohen's, Grzegorz Wajda, Hokyoung Kim, Nordstrom, Tesla, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Nike, Bloomberg Intelligence, YouTube, Big Tech, New York Stock Exchange, NYSE, Chelsea, Getty, Walmart, BI, Costco, Amazon, Motors, Spotify Locations: Americas, TikTok, Merrill, China, American, New York, London
It was under the tutelage of legendary investor Peter Lynch that Sullivan developed the edge that has served him in his career. The numbers Today, Sullivan manages the Putnam Investments Core Equity Fund (PMYYX) , a multicap fund with $4.4 billion in assets that he started in 2010. "The numbers are good," Sullivan said. Ultimately, Sullivan said he's learned a lot from other investors, noting the good stock pickers have had "pretty eclectic" approaches that helped them outperform the market over time. "And I found the good fortune over the decades to be around pretty good stock pickers, pretty good money managers."
Persons: Gerard Sullivan, Peter Lynch, Sullivan, Lynch, hadn't, , Arthur Yeager, PMYYX, Morningstar, It's, Yeager, Tesla, it's, that's, Rajesh Subramaniam, he's, I'm, That's Organizations: Fidelity, Columbia Business School, Magellan Fund, Putnam Investments, Equity, Pacific Gas & Electric, CMS Energy, Companies, Nvidia, FedEx Locations: Brooklyn, U.S, California, Michigan, Pinterest
Investment management firm discusses gold versus bitcoin
  + stars: | 2024-04-19 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGold a 'better hedging risk' than bitcoin in a 'real stress test environment': Scharf InvestmentsEric Lynch, managing director at Scharf Investments, says "bitcoin remains more speculative."
Persons: Scharf, Scharf Investments Eric Lynch Organizations: Scharf Investments
For a veteran muse of David Lynch, old habits die hard. On 'Dune,' then and nowKyle MacLachlan in David Lynch's "Dune." Then of course, because it's David Lynch, he wants to spend some time in his creative universe, and that's really what you got. Our "Dune" is the amalgam of David Lynch and his creativity, and Frank Herbert and his creativity. David Lynch and Kyle MacLachlan at the premiere of "Twin Peaks: The Return" in 2017.
Persons: Jeffrey Beaumont, Dale Cooper, Kyle MacLachlan, David Lynch, MacLachlan, Lynch, Hank MacLean, Lucy, Ella Purnell, isn't, David Lynch's, it's David Lynch, Frank Herbert, Frank, it's, David, Isabella Rosselini, Timothée Chalamet, haven't, Scorsese, Alberto E, Rodriguez, Robert Redford You've, Chris, Oliver Stone's, didn't, Robert Redford, he's, would've, Hank, You've, Kristin Davis, HBO You've, Trey, there'd, Dennis Hopper, Dennis Organizations: De Laurentiis Entertainment, Getty, HBO Locations: Hollywood
Tesla's awful 2024 is getting much worse
  + stars: | 2024-04-17 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Tech: A "social walkie-talkie" app is the newest thing tech insiders are excited about . Tesla's awful 2024 got much worse this week when the company cut 10% of its workforce , and a major executive resigned after 18 years at the EV maker. AdvertisementSlaven Vlasic/Getty Images for The New York Times; Chelsea Jia Feng/BIIn the meantime, Tesla's stock keeps falling. Even worse, people who are in the market for EVs aren't necessarily interested in Teslas .
Persons: , NASA's Chandra, Tesla, we've, Elon Musk, Steve Granitz, Scott Olson, Jia Feng, Graham, Elon Musk's, robotaxis, Slaven, Chelsea Jia Feng, Tesla's, Musk, Andy Sieg, Merrill Lynch, Abanti Chowdhury, who's, Piper Sandler, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Tech, Adobe Stock, The New York Times, EVs, Teslas, Trump, SWANSON, Apple, Microsoft, BI, CNBC, Economy Summit Locations: Chelsea, China, Teslas ., States, New York, London
New John Deere tractors made their way last week through the sprawling port of Brunswick, Ga., their distinctive green paint glinting in the sunshine. Stevedores drove the tractors up a ramp into the belly of the Leo Spirit, a ship that would take them to Asia. The bridge’s collapse closed most of the Port of Baltimore, which last year handled 1.3 million tons of farm and construction machinery and 850,000 cars and light trucks. The Deere tractors would normally be shipped from Baltimore, getting there on trains from a factory in Waterloo, Iowa, according to Georgia port officials. Instead, the tractors had to be trucked to Brunswick, a journey that adds time and costs.
Persons: John Deere, Stevedores, Leo Spirit, Francis Scott Key, , Griff Lynch Organizations: Deere, Georgia Ports Authority Locations: Brunswick, Ga, Asia, Coast, Baltimore, Port of Baltimore, Waterloo , Iowa, Georgia
Citi's wealth unit has seen at least 11 senior execs exit since Merrill Lynch veteran Sieg joined in September. The latest departure is David Bailin, chief investment officer for the global wealth division, who announced his departure on Monday. Sieg's mandate is to turn around the wealth business, which was barely profitable this past quarter. Sieg also plans to expand Citi's already successful wealth business in Asia. At least two other senior Asia executives have left.
Persons: Andy Sieg, Merrill Lynch, Sieg, David Bailin, Bailin, Fraser, Andy, Mark Mason, Shyam Sambamurthy, Merril Lynch, Don Plaus, Hale Behzadi, Citi David, Eduardo Martinez Campos, Keith Lee Hong, Fernando Lopez Munoz, Luigi Pigorni, Jeff Sutton, Eduardo, Seamus Yin, Hayley Cuccinello Organizations: Citi, Business, Bankers, Citi Wealth, Citi Global Wealth, North America, Eduardo Martinez Campos Head, Mark, Mark Mills Regional, Fernando Lopez Munoz Head, Jeff Sutton Global, Eduardo Ventura, West Locations: Asia, Hong Kong, Singapore, Keith Lee Hong Kong, Mark Mills, Shyam Sambamurthy South Asia, America, West China, hcuccinello@businessinsider.com
“Gentoo penguins are big climate change winners in the Antarctic,” Heather Lynch told me. Conversely, the more flexible gentoo penguins keep moving farther and farther south, chasing new prey, and even abandoning nests to increase the odds of long-term survival. Julian Quinones/CNNThe gentoo population has exploded by as much as 30,000% in just a few years. Bill Weir/CNNHere lieth the lesson of the camel and the gentoo: Heat will move us, one way or another. I just know River won’t be satisfied without a magic plot twist that somehow saves all creatures great and small.
Persons: Bill Weir, , , , Bill, CNN's, Julian Quinones, Camels, CNN Bill, I’d, ” Heather Lynch, penguins, we’ve, it’s, Xiulin Ruan, CNN Julian Quinones, “ Don’t, Energy's Organizations: CNN, Brooklyn, Central Park Zoo, CNN Penguins, Stony Brook University, gentoo, Purdue, International Energy Agency, Global Locations: Canada, North America, dromedaries, Sudanese, Egypt, Southern Ocean, Antarctica, Manhattan, British Columbia, Yorkshire, England, Phoenix, Japan, Seville, Spain, Miami, Los Angeles, Angeles, Olivia, Colombia, CNN Seville, China, India, Maine
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAndy Sieg has been quick to make his mark on Citi's ailing wealth unit since taking over the business in September. Some of his efforts are paying off, such as pushing investment products for existing clients to reduce reliance on loans and deposits. AdvertisementIn late September, Citi promoted its North American investment head, Kris Bitterly, to a new role overseeing investments globally. Adding investment assets has become a bigger part of private banker bonuses, according to The Wall Street Journal.
Persons: , Andy Sieg, Mark Mason, Mason, Jane Fraser, Fraser, Kris, Sieg, Hale Behzadi, Merrill Lynch, Don Plaus Organizations: Service, Revenue, Business, Citi, London, North, Wall Street
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. So in the meantime, the Condé Nast Union members have been assigned in recent weeks to a "centralized team" under Chris DiPresso, VP of content finance and operations. They were given assignments they were told were consistent with their skills, but not given firm deadlines or told what they were meant for. Condé Nast CEO Roger Lynch in November said the company would lay off 5% and shift focus to support short-form video, subscriptions, and e-commerce. Some believe the company is using the "rubber room" move to demoralize people and get them to leave the company on their own.
Persons: , Chris DiPresso, Slack, Delia Cai, Ina Garten, Cai, Condé, Roger Lynch, Bon, Condé Nast Organizations: Service, Vogue, Condé Nast Union, Business, New York, Washington Post, Disney, Warner Bros Locations: New York City, Hollywood
Four years after a racial reckoning roiled Condé Nast's Bon Appétit, insiders worry that planned cuts could undo a fragile rebuilding effort. Included in that figure are 94 members, or 17%, of Condé Nast Union, which covers around 550 people across a dozen titles, including Vanity Fair, Vogue, and GQ. The Test Kitchen also benefited from a home cooking boom in the pandemic. But by August 2020, 10 of 13 members of the Test Kitchen had left. Members of the BA Test Kitchen in February 2020.
Persons: Bon Appétit, Condé, Roger Lynch, Adam Rapoport, that'll, Claire Saffitz, Brad Leone, Roy Rochlin, Rachel Gurjar, Kendra Vaculin, Dawn Davis, Sonia Chopra, Davis, Monica Schipper, they'd, Jamila Robinson, James Beard, Jeff Schear, Condé Nast, Lynch, Robinson, Slack, Delia Cai, Ina Garten Organizations: Condé, Condé Nast Union, Vogue, Business, YouTube, Labs, James, The New York Times, Philadelphia Inquirer, Union, New York, Employees Locations: Condé Nast, New York City, Caribbean, Seoul, Hollywood
Data from two recent surveys, funded in part by Oxfam — the National Survey of Amazon Warehouse Workers and the National Survey of Walmart Warehouse Workers — is included in the report. The results show that a substantial amount of Amazon and Walmart warehouse employees surveyed reported being closely watched by technology while in the workplace. Advertisement"The conditions there are absolutely horrific," one Amazon warehouse worker in Alabama was quoted as saying in the report. The Oxfam report says that at Amazon, warehouse workers "are assigned handheld devices or scanners that record, count, and measure every item they move during their day." One Walmart worker quoted in the Oxfam report alleged that the company's warehouse robots "are treated better than human beings."
Persons: , Soren Larson, Maureen Lynch Vogel, Vogel, Petion, Suzanne Kreiter, Irit Tamir, they're, Tamir, Abby Maxman Organizations: Oxfam, Amazon, Walmart, Service, Securities, Exchange Commission, Oxfam —, National Survey, Amazon Warehouse Workers, National Survey of Walmart Warehouse Workers, Reuters Amazon, BI, Employees, Boston Globe, Getty, Oxfam America Locations: United States, Amazon, Alabama
CNN —More than 800 Black actors are denouncing backlash aimed at actor Francesca Amewudah-Rivers, who was cast to play Juliet opposite Tom Holland in an upcoming stage production of “Romeo & Juliet” in London’s West End. “When news of Francesca Amewudah-Rivers’ casting in Jamie Lloyd’s production of Romeo and Juliet was announced so many people celebrated and welcomed this news,” the letter, organized by playwright Somalia Nonyé Seaton, stated. “For a casting announcement of a play to ignite such twisted ugly abuse is truly embarrassing for those so empty and barren in their own lives that they must meddle in hateful abuse. When The Jamie Lloyd Company issued its tweet decrying the online behavior, the theater company said, “This must stop… Any abuse will not be tolerated and will be reported. “Romeo & Juliet” opens on May 23 and will play through August 3.
Persons: Francesca Amewudah, Juliet, Tom Holland, Romeo, Juliet ”, Jamie Lloyd, , Jamie Lloyd’s, Somalia Nonyé Seaton, , , Francesca, James Bond ”, Lashana Lynch, Freema, Who, Susan Wokoma, Enola Holmes, Sheila Atim, Oscar, Marianne Jean, Baptiste, Lolly, Jamie Lloyd Company, Holland, Jamie Lloyd Company’s, London’s Duke, “ Romeo Organizations: CNN, Jamie Lloyd Company, London’s, York’s Locations: Rivers, London’s, Amewaduh
About 45% of changes to S&P 500 analysts' earnings estimates are upgrades, as shown in the chart below, down from 50% in early 2023. AdvertisementSociete GeneraleHistorically, analyst optimism has been a good indicator for the economy's direction. Below is the S&P 500's year-over-year percentage change along with the analyst optimism measure. He says the S&P 500 is in a bubble fueled by AI optimism and could fall as much as around 60%. He sees potential downside of 39% for the S&P 500.
Persons: , Albert Edwards, Edwards, Powell's, Ed Yardeni, Let's, There's, Jeremy Grantham, David Rosenberg, Merrill Lynch Organizations: Service, Societe Generale, Business, Street, Nasdaq, Generale, Conference, Institute for Supply, subsiding, Fed, repo, Bureau of Labor Statistics, Bears, Rosenberg Research, policymaking
The central bank's current chief, Jerome Powell, is yet to defeat his mythical beast — and Wall Street is getting worried. Powell warned on Wednesday that the Fed's fight against inflation isn't over after annualized price growth accelerated to 3.2% in February. AdvertisementRaising the alarmBank of America analysts have suggested that stubborn inflation could mean the Fed doesn't start cutting rates until March next year. It's no wonder, then, that investors are waiting impatiently for the Fed to cut rates. Fundstrat's famously bullish boss, Tom Lee, proclaimed this week that it's dropping "like a rock" and the first rate cut is still likely to be in June.
Persons: , Paul Volcker, Jerome Powell, Powell, Greenlight Capital's David Einhorn, Einhorn, Greenlight, Dad, Robert Kiyosaki, Gary Shilling, Julia La Roche, We've, Merrill Lynch's, they've, Shilling, It's, Fundstrat's, Tom Lee Organizations: Service, Federal, Business, of America, CNBC, Trust, Wall Street, Fed
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Mathisworks | Digitalvision Vectors | Getty ImagesLegal technology firm Luminance has raised $40 million in fresh funding from investors to grow its U.S. footprint, capitalizing on the wave of investor interest surrounding artificial intelligence. The company told CNBC that it raised the fresh capital in a Series B funding round led by U.S. venture fund March Capital. "We had lots of interest from lots of VCs," Eleanor Lightbody, CEO of Luminance, told CNBC in an interview on Tuesday. Lightbody said that businesses are investing in AI tools like Luminance's to keep a competitive edge, as well as to reduce costs. Luminance is one firm of the many generating buzz from investors thanks to the hype swirling around artificial intelligence.
Persons: Slaughter, Eleanor Lightbody, Lightbody Organizations: CNBC, U.S, National Grid Partners, National Grid, Koch Industries, Hitachi, Yokogawa, Liberty Mutual, LG Chem, BBC Studios, University of Cambridge, Companies, Mistral, Microsoft, Amazon, Investors
Daniel C. Lynch, a computer network engineer whose exhibitions on networking equipment helped accelerate the commercialization of the internet in the 1980s and ’90s, died on Saturday at his home in St. Helena, Calif. His death was confirmed by his daughter Julie Lynch-Sasson, who said he had been suffering from kidney failure. In the mid-1980s, when the internet was still the domain of academia and the government, Mr. Lynch was a computer facility manager who played a key role in the early years of data networking. Although the internet was very small and restricted to noncommercial use, Mr. Lynch was convinced of its ultimate commercial potential. Image Daniel C. Lynch in an undated photograph.
Persons: Daniel C, Lynch, Julie Lynch, Sasson, Ziff Davis, Organizations: Cisco Systems, Sun Microsystems, of Fame Locations: St . Helena, Calif
According to Bank of America, valuation levels explain 80% of the market's return over a 10-year period. Bank of AmericaThere are many ways to measure valuation levels in the overall market. Hussman says it's the most accurate indicator of future market returns that he's found. AdvertisementThe Conference BoardThird, the number of US states with a rising unemployment rate is spiking, meaning that the overall unemployment rate should see further upside. BullAndBearProfits.comThe US unemployment rate is already on a slight uptrend, having climbed from 3.4% in April 2023 to 3.9% as of February.
Persons: , Jon Wolfenbarger, Merrill Lynch, John Hussman's, he's, Warren Buffett, Wolfenbarger, Stocks, Woflenbarger, Cam Harvey, Claudia Sahm, Louis Fed, Jeremy Grantham, John Hussman, David Rosenberg, Goldman Sachs, David Kostin, America's Savita Subramanian, Ian Shepherdson, Shepherdson Organizations: Service, Bank of America, Business, JPMorgan, National Federation of Independent Business, Board, Treasury, Bank, America's
Here are the responses from Jim Cramer and Director of Portfolio Analysis Jeff Marks. (Vincent, New York) Jeff Marks: Due to the elevated power needs data centers require, energy demands will be higher. (Steve, Michigan) Jim Cramer: I don't blame you for switching to CrowdStrike from Palo Alto, but I had Palo Alto CEO Nikesh Arora on last week. Jim Cramer: The numbers are no good here right now. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Jim Cramer, Jeff Marks, Vincent, Nikesh Arora, I'm, Gwen, haven't, Peter Lynch, Charlie Scharf, Wells, Nick, it's, Rich Galanti, they'll, Stanley Black, Decker, Morgan Stanley, there's, Danaher, Sam, We've, Laxman Narasimhan, Jim Cramer's, Jim Organizations: Investing Club, Coterra, Palo Alto Networks, Palo, Palo Alto, PepsiCo, Coca, Nvidia, AMD, Magellan Fund, Club, JPMorgan, Broadcom, VMWare, Apple, Developers, Jim Cramer's Charitable, CNBC Locations: Vincent , New York, Eaton, China, Steve , Michigan, Palo Alto, Palo, Wells Fargo, Jim , Arizona, Costco, Elizabeth , Pennsylvania, Linda , Ohio, iPhones, Steve , Mississippi, United States
Lucas: Right. Lucas: Right. Lucas: Right. You got billionaires right now that feel like they need to make more money, right? Lucas: Right.
Persons: Joyner Lucas, Lucas, Jelly Roll, Will Smith, Mark Wahlberg, , Dhruv Joshi, Covid, we're, Brandon Barnett, DMX, Yessir, I've, Symba, Shoutout Slick Rick, That's, they'll, Joshi, I'm, Andy Pollitt, Mark, Will, Bro, bro, Smith, Let's, there's, we've, it's Organizations: Service, The, Twitter, Business Locations: Manhattan, The Orchard
Recovery efforts are now underway for the missing people, who are presumed dead. People from El Salvador, Guatemala and Mexico among the missing: Miguel Luna, an immigrant from El Salvador, has been identified as one of the missing, according to the nonprofit Miguel Luna, an immigrant from El Salvador, has been identified as one of the missing, according to the nonprofit CASA . Ship blacked out before crash: Just minutes before impact, there was a “total blackout” of engine and electrical power on the ship, according to Clay Diamond, executive director of the American Pilots Association. Eight construction workers were believed to be mending potholes on the bridge when it fell, according to officials. A specialized team will also determine who was controlling the vessel and who was on the ship’s bridge at the time of the crash, she said.
Persons: Francis Scott Key, James Wallace, Wes Moore, “ We’re, Jennifer Homendy, Richard Worley, Miguel Luna, Petén, Clay Diamond, Diamond, “ It’s, , Pete Buttigieg, Joe Biden, US Sen, Chris Van Hollen, Buttigieg, Luna, DALI, , ” Moore, Dali, Tasos Katopodis, Moore, CNN’s Melissa Alonso, Flora Charner, Sarah Engel, Jack Forrest, Allison Gordon, Elise Hammond, Jennifer Henderson, Betsy Klein, Jamiel Lynch, Sean Lyngaas, Mary Kay Mallonee, Lauren Mascarenhas, Pete Muntean, Tori B, Powell, Rachel Ramirez, Amy Simonson, Aditi Sangal, Michael Williams Organizations: CNN, US Coast Guard, Baltimore City Fire, Divers, Maryland Gov, Guard, Transportation Safety, National Transportation Safety, Baltimore Police, CASA, The Ministry of Foreign Affairs, Mexican Embassy, American Pilots Association, Reconstruction, Vital, Transportation, El, Maritime, Port Authority of, Infrastructure Security Agency, Coast Guard, for Disease Control, Gov, Association of Maryland Pilots, , NTSB Locations: Baltimore, , El Salvador, Guatemala, Mexico, San Luis, Camotán, Washington, US, Patapsco, El Salvadoran, Maryland, Port Authority of Singapore
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