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☆ Saudi golf shot plays through CFIUS hazards
▼ + stars: | 2023-07-14 | by ( Jennifer Saba | ) www.reuters.com time to read: +8 min

U.S. congressional lawmakers scrutinized PGA Tour officials on Tuesday this week about the group’s tie-up with a rival golf tournament owned by Saudi Arabia. Enter the Saudis, who launched an upstart golf tournament last year, LIV Golf, that competed with the U.S.-based PGA Tour and its European counterpart DTP. There are worries that Saudi Arabia, a regime viewed as hostile to women and LGBTQ groups, would have significant sway over golf’s culture. LIV Golf is owned by Saudi Arabia Public Investment Fund. Former AT&T Chief Executive Randall Stephenson resigned from the PGA Tour policy board, the Washington Post reported on July 9.

Persons: State Condoleezza Rice, Darla Moore, Covid, LIV Golf, Phil Mickelson, Brooks Koepka, Yasir Al, Ed Herlihy, Wachtell, Lipton, Katz, hasn’t, Randall Stephenson, Jamal Khashoggi, ”, Richard Blumenthal, –, Sherrod Brown, Maxine Waters, Janet Yellen, LIV Golf’s, Joe Biden hasn't, Saudi Arabian Crown Prince Mohammed bin Salman, Khashoggi, Uncle Sam, Refinitiv, China’s ByteDance, LIV, Stephenson, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Public Investment Fund, Augusta National Golf Club, State, U.S, PGA, LIV, Rosen, Breakingviews, Former AT, PGA Tour, Saudi, Department of Justice, Foreign Investment, U.S . Treasury, Saudi Arabian Crown, Walmart, Visa, Uber Technologies, Nation Entertainment, National Basketball League, Houston Rockets, People’s, NBA, backtrack, FIFA, Qatar, The Justice Department, Treasury, Committee, Homeland Security, Governmental Affairs, Saudi Arabia Public Investment Fund, T, Washington Post, Thomson Locations: Saudi Arabia, United States, American, U.S, South Carolina, Iran, China, Saudi, Hong Kong, People’s Republic, Beijing

☆ China's chip metal export curbs are 'a wake up call' for countries to diversify their supply chains
▼ + stars: | 2023-07-13 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

Luisa Moreno, President of mining company Defense Metals Corp, expects China to further restrict metal exports which could include rare earths. Jakub Porzycki | Nurphoto | Getty ImagesChina's metal export curbs on gallium and germanium could spur some countries to diversify their supply chains away from China. Rare earths are essential for high-tech consumer products like smartphones and military equipment like radar systems. Rare earths make up a group of 17 elements composed of scandium, yttrium, and the lanthanides. China also threatened to stop rare earths exports to the U.S. in 2019.

Persons: Luisa Moreno, Jakub Porzycki, Stewart Randall, Intralink, Randall, Brady Wang, Moreno, Counterpoint's Wang, Intralink's Randall, Ross Berntson Organizations: Defense Metals Corp, Nurphoto, Getty, CNBC, Alliance, Europe Commission, Counterpoint Research, Indium Corporation Locations: China, Shanghai, Europe, Japan

☆ Rory McIlroy says he’d rather retire ‘if LIV Golf was the last place on Earth to play golf’
▼ + stars: | 2023-07-13 | by ( Ben Morse | ) edition.cnn.com time to read: +4 min

CNN —Rory McIlroy said on Thursday that he would rather retire than compete on the Saudi-backed LIV Golf tour even if it “was the last place on Earth to play golf.”Four-time major winner McIlroy has been a vocal opponent of the breakaway golf tour ever since it came into existence a few years ago, threatening the very foundations of the sport. “If LIV Golf was the last place to play golf on Earth, I would retire. “I’d play the majors, but I’d be pretty comfortable.”CNN has reached out to LIV Golf and the PGA Tour to offer them the right of reply. Earlier this week, witnesses – including PGA Tour Chief Operating Officer Ron Price and Jimmy Dunne, a company board member who helped broker the deal – faced scrutiny from committee members over the deal. “As long as I get to play golf, I’m happy.

Persons: Rory McIlroy, LIV, “, McIlroy, LIV Golf, ”, Tiger Woods, –, Ron Price, Jimmy Dunne, Richard Blumenthal, Price, Dunne, Sen, ” Dunne, ” McIlroy, Gregory Shamus, Randall Stephenson, ” Stephenson, Jamal Khashoggi, Mohammed bin Salman, Khashoggi, Salman, ’ ’ McIlroy, I’ve, there’s Organizations: CNN, LIV, PGA, Scottish, Saudi Public Investment Fund, LIV Golf, US, Homeland Security, Governmental Affairs, Connecticut Democrat, RBC Canadian Locations: Saudi, American, Connecticut, Saudi Arabia

☆ Leveraged bets in US Treasury market could 'amplify' stress, BoE warns
▼ + stars: | 2023-07-12 | by ( David Randall | ) www.reuters.com time to read: +1 min

NEW YORK, July 12 (Reuters) - Large leveraged bets by hedge funds in the U.S. Treasury market could "amplify stress" in global financial markets should rates markets move sharply, the Bank of England said in a report published on Wednesday. Hedge funds have taken record short positions in two- and five-year Treasury futures this year, suggesting that fund managers expect short-term interest rates to continue to move higher. "Really what the market is looking for is a little bit more clarity from the Fed and other global central banks as to where terminal rates will ultimately be, and that will ultimately translate into more conviction in the rates market," he said. "Asset managers continued to add to (Treasury) exposure with leveraged funds taking the other side," the report noted. Reporting by David Randall; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Benjamin Jeffery, David Randall, Paul Simao Organizations: YORK, U.S . Treasury, Bank of England, Treasury, BMO Capital Markets, Bank of America, Thomson Locations: U.S, Treasuries

☆ US slaps sanctions on Sinaloa Cartel fentanyl network
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, July 12 (Reuters) - The U.S. Treasury Department on Wednesday imposed sanctions on 10 Mexican nationals and one company in the country for their alleged involvement in the Sinaloa Cartel's vast illicit fentanyl trafficking network. The sons, known as "Los Chapitos," are accused of leading a faction of the Sinaloa Cartel after their father's 2016 capture and extradition to the U.S. a year later. The U.S. Treasury also sanctioned an import-export company, REI Compania Internacional, and its majority shareholder for allegedly receiving chemical shipments from China. Lopez Obrador added that his Security Minister Rosa Icela Rodriguez would meet this month with U.S. U.S. President Joe Biden's administration has been seeking increased cooperation from Mexico and China in stemming the flow of fentanyl and its precursor chemicals.

Persons: Noel Lopez Perez, Joaquin, El, Ricardo Paez Lopez, El Chapo's, Ovidio Guzman Lopez, Andres Manuel Lopez Obrador, Lopez Obrador, Rosa Icela Rodriguez, Elizabeth Sherwood, Randall, Joe Biden's, Kylie Madry, Stefanie Eschenbacher, Raul Cortes, Sarah Morland, Mark Heinrich, Josie Kao Organizations: MEXICO CITY, U.S . Treasury Department, Treasury, Foreign Assets, U.S . Treasury, REI Compania Internacional, U.S . Homeland Security, Thomson Locations: MEXICO, Sinaloa, U.S, United States, Mexico, China, Mexican

☆ Cathie Wood's ARK fund hits 11-month high as inflation ebbs
▼ + stars: | 2023-07-12 | by ( David Randall | ) www.reuters.com time to read: +2 min

NEW YORK, July 12 (Reuters) - The flagship fund of star stockpicker Cathie Wood hit an 11-month high Wednesday, extending a rally that has been powered by bets that inflation would fall rapidly and benefit the sort of speculative technology stocks she is known for. The $8.4 billion ARK Innovation ETF (ARKK.P) rose 0.6% in morning trading Wednesday to its highest level since August 2022. Wood's fund was among the worst-performing U.S. equity funds overall in 2022 as she continued to downplay the impact of inflation and said that deflation would be the larger issue driving markets. Lower interest rates help unprofitable or other early-stage companies by lowering their borrowing costs and increasing the value of future profits. "Anything that puts interest rate hikes at bay is definitely positive for any small-cap or speculative tech stock," he said.

Persons: stockpicker Cathie Wood, Jamie Cox, David Randall Organizations: YORK, Coinbase Global Inc, Sciences, Commerce Department, Federal Reserve, Harris Financial Group, Thomson

That compares with a 14.8% gain for the benchmark S&P 500 (.SPX). Microsoft (MSFT.O), Apple (AAPL.O), Nvidia (NVDA.O), Amazon.com (AMZN.O) and Tesla (TSLA.O) combined account for 43.8% weight in the index, according to Refinitiv data as of Monday's close. The special rebalancing may be conducted at any time if the aggregate weight of companies, each having more than 4.5% weight in the index, tops 48%, according to Nasdaq. COULD THE S&P 500 FOLLOW SUIT? Apple and Microsoft are the only two firms with weight over 4.5% in the S&P 500.

Persons: Hogan, Cameron Lilja, Dow, Wells, Sam Stovall, Sruthi Shankar, Medha Singh, Bansari, David Randall, Shounak Dasgupta Organizations: Nasdaq, Microsoft, Apple, Nvidia, Riley, U.S . Securities, Exchange, Dow Jones, Tesla, Booking Holdings, Gilead Sciences, Devices, CFRA, Thomson Locations: Wells, Gilead, Bengaluru, New York

☆ LIV Golf season-ending championship moved from Saudi Arabia to Trump National Doral
▼ + stars: | 2023-07-11 | by ( Jack Bantock | ) edition.cnn.com time to read: +2 min

CNN —The final event of the 2023 LIV Golf season has been switched from Saudi Arabia to Trump National Doral in Florida, organizers announced Monday. Royal Greens Golf & Country Club in Jeddah will now host the final individual event of the LIV Golf season. Tom Dulat/Getty ImagesThe 12 four-man teams will be seeded for the head-to-head team championship based on their finishing positions in the regular season. Two LIV Golf events have been hosted since June’s announcement of a reconciliatory partnership between the breakaway tour, the PGA Tour and the DP World Tour. On Tuesday, two PGA Tour officials are set to testify before a US Senate panel regarding the proposed merger.

Persons: Donald Trump’s, LIV, Tom Dulat, LIV Golf’s, Dustin Johnson, Patrick Reed, Talor Gooch, Pat Perez, Johnson’s, Gooch, Australia’s Cameron Smith, Brooks Koepka, Randall Stephenson – Organizations: CNN, Trump National Doral, Jeddah’s Royal Greens, Country Club, LIV, Royal Greens, & Country Club, PGA Tour, PGA Locations: Saudi Arabia, Florida, Donald Trump’s Miami, Jeddah, Saudi

☆ The Saudi-back LIV golf league is moving its possible last ever championship to Trump's Doral golf course
▼ + stars: | 2023-07-10 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

LIV Golf will host its championship tournament at a Trump-owned golf course for its second straight year. The golf league moved the championship from Saudi Arabia where it was initially scheduled. The PGA has said it will merge with the controversial Saudi-backed golf league. The decision means that for the second straight year, LIV's golf championship will be held at Trump's Doral course. Before their merger, LIV and the PGA were in fierce competition to retain some of the sport's most successful golfers.

Persons: LIV, Donald Trump's Trump, Trump, Jamal Khashoggi, Prince Mohammed bin Salman, Randall Stephenson, Rory McIlroy, Dustin Johnson, they're, Johnson Organizations: Trump, Service, Donald Trump's Trump Doral, Golf Club, Doral, Capitol, PGA, Golf, ESPN, Saudi, Washington Post Locations: Saudi Arabia, Saudi, Wall, Silicon, Miami, Jeddah

☆ PGA Tour board member Randall Stephenson quits over deal with LIV Golf
▼ + stars: | 2023-07-10 | by ( Chris Isidore | ) edition.cnn.com time to read: 1 min

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Price and Dunne may also be asked about the weekend resignation of Randall Stephenson from the tour’s board after more than a decade. The sport’s leaders have often handled their business in Washington behind closed doors, relying on a fount of good will and gentility. The tour faced a significant threat in the 1990s, when the Federal Trade Commission examined antitrust issues in golf before its inquiry fizzled amid a pressure campaign from Capitol Hill. But baseball has drawn much of the attention from Congress, like when senators called a 1958 hearing on antitrust exemptions. (“Stengelese Is Baffling to Senators,” read a subsequent headline in The New York Times, which reported that Yankees Manager Casey Stengel had lawmakers “confused but laughing.”)

Persons: Price, Dunne, Randall Stephenson, Stephenson, Jamal Khashoggi, ”, Travis Tygart, Arnold Palmer, Dwight D, Eisenhower, Jack Nicklaus, Biden, Casey Stengel, “ Organizations: AT, Saudi, Washington Post, U.S, Doping Agency, Federal Trade Commission, Capitol, Lawmakers, football’s, ”, New York Times, Yankees Locations: Washington, Capitol Hill

‘Serious concerns’ at the PGA TourJust days before Tuesday’s PGA Tour hearing before the Senate Permanent Subcommittee on Investigations, a prominent tour board member, Randall Stephenson, has resigned. His reason? He said he cannot support the golf organization’s proposed tie-up involving LIV Golf, its Saudi -backed rival, DealBook’s Lauren Hirsch and The Times’s Alan Blinder report. In a scathing resignation letter obtained by DealBook, Mr. Stephenson, the former AT&T chair, said that he — like most of the board — was left out of the loop as the tour negotiated a deal with Saudi Arabia’s sovereign wealth fund that jolted the sports world. (In fact, he had already lately taken to attending most board meetings via videoconference, save for last month’s meeting in Michigan.)

Persons: Randall Stephenson, LIV Golf, DealBook’s Lauren Hirsch, Alan Blinder, DealBook, Stephenson, —, Mr, Jamal Khashoggi, ” Mr Organizations: Investigations, AT Locations: Saudi, Michigan

☆ PGA Tour defends LIV Golf deal ahead of Senate hearing
▼ + stars: | 2023-07-10 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

Streeter Lecka | Getty ImagesThe PGA Tour has begun its public defense of its deal with Saudi-backed LIV Golf ahead of a key Senate hearing slated for this week. "Given the well-chronicled legal disputes that have existed between the PGA Tour and PIF, we understand the fair and valid questions raised by PGA Tour members, Tour partners, media, fans and now Congress," Price said in the op-ed. Stephenson stepped down as lawmakers appeared likely to start a broad probe into the merger between the PGA Tour and LIV, beginning with Tuesday's Senate hearing. Defending the dealLast month, the PGA Tour and PIF's LIV Golf, as well as Europe's DP World Tour, agreed to merge. The majority of the board that leads the PGA Tour Enterprises will be appointed by the tour and run by Monahan.

Persons: Streeter Lecka, LIV Golf, Ron Price, Price, Randall Stephenson, Stephenson, LIV, Sen, Richard Blumenthal, Ron Johnson, Jay Monahan, Jimmy Dunne, Monahan, Richard Heathcote, Rory McIlroy — Organizations: THE, Sawgrass, Saudi, Athletic, Monday, PGA, PGA Tour, AT, Senate, Senate Homeland Security, Investigations, Saudi Public Investment Fund, Getty, Saudi Arabia Public Investment, PIF Locations: Ponte Vedra Beach , Florida, Saudi, United States, Monday's

☆ Wall St Week Ahead As earnings loom, investors weigh recession resilience
▼ + stars: | 2023-07-07 | by ( David Randall | ) www.reuters.com time to read: +5 min

The financials sector is down 2%, while energy is nearly 9% lower. These unloved sectors are growing attractive to investors increasingly torn over whether a long-feared U.S. recession will ever materialize. Quincy Krosby, chief global strategist for LPL Financial noted a "tug of war" in the market over the likelihood of a recession. The healthcare sector trades at a forward price-to-earnings ratio of 17.6, well below the 20.1 ratio of the broad S&P 500. Yet a continued rally in megacaps will likely stretch their valuations further, prompting some investors to rotate toward healthcare and financials, LPL Financial's Krosby said.

Persons: Goldman Sachs, Quincy Krosby, Sameer Samana, Max Wasserman, Financials, Tom Ognar, Morgan Stanley, John Quealy, Financial's Krosby, David Randall, Megan Davies, Michelle Price, Richard Chang Organizations: YORK, Global, BofA, Commerce Department, LPL Financial, Reserve, Wells, Wells Fargo Investment Institute, FINANCIALS, Miramar Capital, Abbott Laboratories, Allspring Global Investments, LPL Financial Holdings Inc, Trillium Asset Management, Russell, Thomson Locations: U.S, BlackRock, Wells Fargo, megacaps

☆ Britain's Orthodox Haredi Jews wary of state intrusion in education
▼ + stars: | 2023-07-06 | by ( Jonathan Saul | ) www.reuters.com time to read: +5 min

This special faith-based education is profoundly important to Hamilton's strictly Orthodox Haredi Jewish community, which numbers 80,000 in Britain. All children in Britain from the age of five must be in full-time education. "Every child has the right to a safe and suitable education," said a spokesperson for the Department of Education. Underlying the tensions at play between the community and secular state, the government's educational standards office Ofsted, which inspects schools, said in 2021 the school's secular curriculum was too narrow. "Hear our pain and our deep request to leave us alone to allow us to keep our identity," said Rabbi Herschel Gluck, a Haredi community leader.

Persons: Yossi Hamilton, Asher Gratt, Randall Hardy, Flick Drummond, Elyon, Peter Cziborra Hamilton, Hamilton, Shakeel, Rabbi Herschel Gluck, Jonathan Saul, Alexandra Hudson Organizations: Jewish, Conservative, Department of Education, REUTERS, Ofsted, Alexandra Hudson Our, Thomson Locations: London, Britain, England, Israel, British, Birmingham

☆ For Asian American Actors, Playing a Hot Mess Is Liberating
▼ + stars: | 2023-07-06 | by ( Matt Stevens | More About Matt Stevens | ) www.nytimes.com time to read: +1 min

“All-American Girl” debuted on ABC in 1994, though it lasted only 19 episodes. There were so few Asian American stories emerging — save occasional indie breakouts like “Better Luck Tomorrow” — that the “initial stabs” had to be “be kind of like our best foot forward — putting on our best face, showing them what we can do,” Yu said. “There was this underlying feeling of ‘Don’t air out our dirty laundry, don’t let them see us fighting,’” he added. They called it the “rep sweats” — the anxiety they felt any time they watched an Asian American onscreen. It was a pressure emanating from the fact that those appearances were so few and far between.

Persons: ”, Jeff Yang, Phil Yu, Philip Wang, “, Yang’s, Hudson, Randall, Yu, ” Yu, ’, we’ve Organizations: Luck, ABC Locations: American, America

That followed the U.S. decision to impose export restrictions to curb China's access to key technologies used for artificial intelligence (AI). China has been the go-to for companies because it is able to export processed minerals at a lower cost than other countries. In Taiwan, a senior government official said China's restrictions on exports of gallium and germanium marked "a new wave of retaliation" in a "tit-for-tat approach." Some industry watchers believed China's metals restrictions could trigger short-term supply snags and higher prices. But Navitas Semiconductor Corp (NVTS.O), which makes chips that use a substance called gallium nitride, on Wednesday said it expects no adverse effects to its business from China's export controls.

Persons: China's, Stewart Randall, Janet Yellen, Roy Lee, John Strand, Supantha Mukherjee, Hakan Ersen, Ben Blanchard, Brenda Goh, Kanishka Singh, Anne Marie Roantree, David Gaffen, David Gregorio Our Organizations: U.S . Department of Commerce, EV, Sweden's Ericsson, Ericsson, U.S, Treasury, Navitas Semiconductor Corp, Thomson Locations: SHANGHAI, STOCKHOLM, WASHINGTON, Beijing, U.S, China, United States, Shanghai, Intralink, Netherlands, Australia, Europe, Taiwan, South Korea, Japan, Korea, Copenhagen, Stockholm, Berlin, Taipei, Washington

☆ What people are saying about China's chipmaking export controls
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +2 min

July 4 (Reuters) - China will control exports of some metals used in the semiconductor industry, ramping up a technology war with the United States and potentially causing more disruption to global supply chains. PETER ARKELL, CHAIRMAN OF GLOBAL MINING ASSOCIATION OF CHINA:"It hardly comes as a surprise that China would respond to the American-led campaign to restrict China's access to microchips. With roughly 90% of global production of these minor metals, China has hit the American trade restrictions where it hurts. It is a fantasy to suggest that another country can replace China in the short or even medium term." "Offer prices in the domestic market and the export market have increased to 10,000 yuan ($1,380) per kg and over $1,500 per kg, respectively."

Persons: KAZUMA KISHIKAWA, I've, PETER ARKELL, STEWART RANDALL, Kentaro Sugiyama, Amy Lv, Brenda Goh, Anne Marie Roantree, Tom Hogue Organizations: DAIWA, OF, OF CHINA, WHO, BE, Thomson Locations: China, United States, Japan, U.S, Netherlands, SHANGHAI, CHINA, Europe, Tokyo, Beijing, Shanghai

☆ Spread between 2- and 10-year Treasuries at deepest inversion since '81
▼ + stars: | 2023-07-03 | by ( David Randall | ) www.reuters.com time to read: +2 min

The closely-watched spread between the 2-year and 10-year U.S. Treasury note yields hit the widest since 1981 at -109.50 in early trade, a deeper inversion than in March during the U.S. regional banking crisis. A yield curve inversion - in which shorter-dated Treasuries trade at higher yields than longer-dated securities - has been a reliable signal of upcoming recessions. The spread between 2 and 10-year Treasuries has been inverted since last July. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, rose 3.6 basis points at 4.913% in morning trading Monday. The yield on 10-year Treasury notes was up 1.2 basis points to 3.831%.

Persons: Paul Volcker, Ian Lyngen, Treasuries, Alden Bentley, Philippa Fletcher, Susan Fenton Organizations: U.S, Treasury, Fed, BMO, San Francisco Fed, Thomson Locations: United States, U.S

☆ Analysis: Contrarians bet U.S. energy shares will shake doldrums in 2023's second half
▼ + stars: | 2023-06-28 | by ( David Randall | ) www.reuters.com time to read: +4 min

That has hurt shares of energy companies: after soaring in 2022, the S&P 500 energy sector (.SPNY) has lost nearly 10% this year, making it the index’s worst performing sector. Most investors believe central bank interest rate hikes to fight inflation should keep a lid on global growth for the time being. Yet some are positioning for a rebound in energy shares, drawn by attractive valuations and signs the U.S. will continue to stave off an economic downturn. Stan Majcher, a portfolio manager at Hotchkis & Wiley, is among those counting on oil prices rebounding due to tight supply. “If you don’t get it, the path of least resistance is for oil prices to move much higher," he said.

Persons: Brent, David Lefkowitz, Baker Hughes, Stan Majcher, Refinitiv, Charles Lemonides, Sam Peters, David Randall, Lewis Krauskopf, Ira Iosebashvili, David Gregorio Our Organizations: YORK, UBS Wealth Management, UBS, Federal Reserve, TD Securities, . West Texas, Brent, U.S, drillers, Hotchkis, Wiley, Kosmos Energy Ltd, Bank of America Survey, Hess Corp, Occidental Petroleum Corp, ClearBridge Investments, Thomson Locations: U.S, China, Saudi Arabia

☆ Retail investors slow to buy into ARK Innovation Fund's blistering rally
▼ + stars: | 2023-06-21 | by ( David Randall | ) www.reuters.com time to read: +3 min

NEW YORK, June 21(Reuters) - Individual investors have given a cold shoulder to Cathie Wood’s ARK Innovation Fund during their searing run this year, but some market watchers believe that may change if risk appetite keeps improving. The $8 billion fund, which outperformed all U.S. equity funds during the pandemic rally of 2020 but suffered a steep fall last year, is up nearly 37% year-to-date, outpacing broader markets. ARK Invest, the fund's parent company, did not respond to a request for comment. Domestic equity funds and ETFs posted a total of $151.3 billion in outflows year to date through June 7th, according to data from trade group the Investment Company Institute. Optimism among individual investors vaulted to a 19-month high in the latest American Association of Individual Investors (AAII) Sentiment Survey.

Persons: Todd Rosenbluth, Rosenbluth, Virag Shah, Van, Morgan Stanley, Shah, David Randall, Ira Iosebashvili, David Gregorio Our Organizations: YORK, Innovation Fund, Invest, Investment Company Institute, Van Leeuwen & Company, American, of, Tesla, Roku Inc, Sciences, Thomson Locations: Van Leeuwen

☆ Mark Cuban says successful people share 1 trait 'most people' don't have: It's 'the one thing in life you can control'
▼ + stars: | 2023-06-21 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Between his own business success and his investments in hundreds of startups, Mark Cuban knows what it takes to be highly successful. There's one trait you should cultivate above all others if you want to be successful too, he says. "The one thing in life you can control is your effort," Cuban, 64, recently said in a LinkedIn video post published by entrepreneur and VC investor Randall Kaplan. And 29% of company executives worldwide think employees who don't go the extra mile won't be successful and risk being fired, Payscale's 2023 Compensation Best Practices Report found. DON'T MISS: Want to be smarter and more successful with your money, work & life?

Persons: Mark Cuban, Randall Kaplan, aren't, Cuban, doesn't, Lexi Clarke, It's, it's, that's, Warren Buffett Organizations: Entrepreneurs, CNBC Locations: U.S, Cuban

☆ Climate startup Supercritical nabbed $13 million to help carbon removal projects get funded. Check out the 11-slide pitch deck it used to secure the funds from Lightspeed.
▼ + stars: | 2023-06-21 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

London-based startup Supercritical just raised $13 million to help projects get funded via companies. London-based startup Supercritical has just raised $13 million from Lightspeed Venture Partners to help the "groundswell" of businesses pledging to invest in carbon removal. That's where carbon removal — tree-planting, sucking CO2 from the air using technology, or enhanced rock weathering — comes in. Long term, it wants to be the "no brainer" option for carbon removal purchases. Check out the 11-slide redacted pitch deck Supercritical used to raise the funds.

Persons: we've, Michelle You, Aaron Randall, Carbo Organizations: Lightspeed Venture Partners, Paris, Frontier Fund, RTP Global, Greencode Ventures, MMC Ventures Locations: London

☆ My final, unexpected conversation with Cormac McCarthy
▼ + stars: | 2023-06-18 | by ( David Kushner | ) www.businessinsider.com time to read: +9 min

My last conversation with Cormac McCarthy, the acclaimed and elusive novelist who died last week at 89, came as unexpectedly as the first. "I thought you said Cormac McCarthy edited your book on theoretical physics?" "I got the manuscript back in the mail, and it was marked up on every page," Randall told me. By the time I interviewed Randall, Cormac was spending his days at the Santa Fe Institute, a theoretical-research institute in the piñon foothills of New Mexico. "Don't do this to yourself," McCarthy told the guy, before shutting the door in his face.

Persons: Cormac McCarthy, McCarthy, —, Belying, Cormac, Lisa Randall, Randall, Gil, Jon, MacArthur, Murray Gell, Mann, it's, Einstein, they're, Doug Erwin, David Krakauer, David, Stella Maris, I'd, He'd, David Kushner Organizations: Wired, Stone, Harvard, drifters, Santa Fe Institute, Atari Locations: backwoods Florida, piñon, New Mexico, Texas, Tennessee, El Paso, Rolling Stone, SFI

The 15% year-to-date rally in the S&P 500 (.SPX) is pulling once doubtful investors back into the market. Meanwhile, options investors are buying calls - bets on upside in stocks - at levels not seen in years. A record 1.8 million S&P 500 calls traded on Thursday, helping lift the one-month moving average of calls-to-puts to the highest in at least four years, Trade Alert data showed. The S&P 500 has posted a median gain of 18% in the 12 months after clearing the 20% threshold, LPL Financial data showed. One encouraging signal is that a greater number of S&P 500 stocks are heading higher, in addition to the handful of megacap growth names such as Microsoft (MSFT.O) and Nvidia (NVDA.O) that led gains this year.

Persons: you've, Emily Roland, Goldman Sachs, Willie Delwiche, we're, Delwiche, Brent Kochuba, Matt Stucky, Ken Mahoney, Lewis Krauskopf, Saqib Iqbal Ahmed, David Randall, Ira Iosebashvili, Richard Chang Organizations: YORK, National Association of Active Investment, Bank of America, Deutsche Bank, Trade, John Hancock Asset Management, Mount Research, American Association of, Investors, Northwestern Mutual Wealth Management Company, Fed, Microsoft, Nvidia, Asset Management, Thomson Locations: U.S

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