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☆ Trump's plan to build more homes on federal land could push prices higher, UBS says
▼ + stars: | 2024-11-15 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +5 min

Trump's plan to transform federal land into housing will be costly, given minimal existing infrastructure, UBS says. Those policies, plus a set of potentially inflationary proposals, could drive up both home prices and mortgage rates, they say. Trump's plan to transform federal land into more housing seems particularly challenged, the analysts say. The higher rates will likely continue the housing lock-in effect, where existing homeowners prefer to remain locked in at their current lower rates. In prepared remarks on Thursday, Fed Chair Jerome Powell said the US is in no hurry to cut rates, signaling that mortgage rates could stay higher for longer.

Persons: —, Donald Trump's, homeownership, Trump, JD Vance, Vance, homebuyers, Jerome Powell Organizations: UBS, Service, Builders

☆ Trump called the climate crisis a scam. It could prove a gift to China.
▼ + stars: | 2024-11-15 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

AdvertisementPresident-elect Donald Trump has long questioned the reality of the climate crisis, describing it as a "scam" and accusing policies to tackle the crisis of destroying US jobs. AdvertisementChina, as part of its "Belt and Road" initiative to grow its global influence, has provided developing countries with renewable energy technologies, including wind farms. AdvertisementThe US lags China as a clean tech economic power. There are also doubts over how much China is willing to take an international leadership role on climate issues. Assuming a leadership role would likely require China to send money to other countries, said Crowther.

Persons: Donald Trump, —, Herbert Crowther, we're, Lily McElwee, Xi Jinping, Trump, Daniel Araya, Biden, Joe Biden's, Crowther, Xi Organizations: Service, Eurasia Group, Business, Biden, China Studies, Center for Strategic, International Studies, Trump, Getty, Brookings Institute, International Energy Agency, Reuters Locations: Paris, China, New York, Baku, Azerbaijan, Washington ,, Beijing, United States, Gansu Province, Washington , DC, Brazil

☆ Alibaba shares rise 5% in premarket after Chinese tech giant posts 58% jump in profit
▼ + stars: | 2024-11-15 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Alibaba said net income rose 58% year-on-year to 43.9 billion Chinese yuan ($6.07 billion) in the company's quarter ending Sept. 30, on the back of the performance of its equity investments. This compared with a LSEG outlook of 25.83 billion yuan. Revenue, meanwhile, came in at 236.5 billion yuan, 5% higher year-on-year but below an analyst forecast of 238.9 billion yuan, according to LSEG data. Investors are closely watching the performance of Alibaba's main business units, Taobao and Tmall Group, which reported a 1% annual uptick in revenue to 98.99 billion yuan in the September quarter. The e-commerce giant's overseas online shopping businesses, such as Lazada and Aliexpress, meanwhile posted a 29% year-on-year hike in sales to 31.67 billion yuan.

Persons: Alibaba, — Organizations: Tmall, ING Locations: York, London, Beijing

☆ Inside Microsoft's struggles with Copilot
▼ + stars: | 2024-11-15 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +23 min

In September 2023, Microsoft's famously soft-spoken CEO, Satya Nadella, unveiled the company's flagship AI product, Copilot, with sweeping fanfare. Some of Microsoft's own employees and executives are privately concerned that Copilot won't be able to deliver on its ambitions. Copilot's struggles have created an opening for Microsoft's rivals, some of whom have seized on the opportunity to promote their own agendas. "Now, when Joe Blow logs into an account and kicks off Copilot, they can see everything," said one Microsoft employee familiar with customer complaints. As complaints and questions over Copilot mount, so does the pressure to justify Microsoft's unprecedented level of spending on AI.

Persons: Microsoft's, Satya Nadella, Gartner, Copilot, it'll, Copilot's, Marc Benioff, Benioff, Goldman Sachs, Marc Andreessen, Andreessen Horowitz, Ethan Miller, Jared Spataro, Spataro, —, Joe Blow, Joe, Nadella, Gary Marcus, Marcus, Wile, Coyote, Brontë, Judson Althoff, Jason Zander, Zander, We've, OpenAI, Tasos Katopodis, Steve Jobs Organizations: Microsoft, Venture, Getty, Goldman, BI, Fortune, Excel, Lumen Technologies, Honeywell, Gartner, Wall Street, Initiative, Department of Homeland Security, Employees, San Francisco, Software, Apple, Jobs Locations: Microsoft's, Copilot, New York City

☆ A fluffy, $85 toy is taking Asia by storm and sparking legions of knockoffs. Inside the meteoric rise of Labubu.
▼ + stars: | 2024-11-15 | by ( Aditi Bharade | Erin Liam | ) www.businessinsider.com time to read: +9 min

The Labubu and Pop Mart phenomenonLabubu dolls at the opening of a Pop Mart store in Bangkok. AdvertisementIn a statement to BI, a representative from Pop Mart said that Labubu has gained a strong global fan base. Advertisement"There's a bit of a 'FOMO' feeling," said Sim, 31, who owns around six Labubu toys. She has around 17 Labubu toys and said she spent over $10,000 on them. Once, she even camped outside a Pop Mart store for the latest drop.

Persons: —, Grace Lee, Lee, ─, Joey Khong, Khong, Bangkok . Sun Weitong, Lung, it's restocked, Tony Lee, Mart doesn't, Taobao, Erin Liam, Lisa, Juda, Kanaprach, Gen Zers, They're, Labubu, It's, Sim Pei Yi, Sim, Ana Gonzales, she's, Gonzales, Tracy Hsu, Lisa —, Hsu Organizations: Service, Getty, Business, Pop, Pop Mart, Daxue Consulting, Southeast, Insight, Singapore, Mart Locations: Asia, Bangkok . Sun, Xinhua, Hong Kong, Beijing, Singapore, Pop, Southeast Asia, Japan, South Korea, China, Philippines, New Jersey, California, Canada

☆ Oil dips on oversupply concerns, heads for weekly loss
▼ + stars: | 2024-11-15 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged down early on Friday as oversupply concerns and demand worries stemming from a stronger dollar outweighed a steep draw in U.S. fuel stocks. Distillate stockpiles, which include diesel and heating oil, also fell unexpectedly by 1.4 million barrels, the data showed. Signs of stronger demand supported oil prices, ANZ analyst Daniel Hynes said. The Paris-based agency raised its 2024 demand growth forecast by 60,000 barrels per day to 920,000 bpd, and left its 2025 oil demand growth forecast little changed at 990,000 bpd. Also pressuring oil prices, the dollar surged on Thursday to a one-year high and headed for a fifth-straight daily gain fueled by higher yields and Donald Trump's presidential election victory in the United States.

Persons: Brent, Daniel Hynes, group's, Donald Trump's Organizations: Brent, . West Texas, Energy Information Administration, EIA, ANZ, International Energy Agency, Organization of, Petroleum, greenback Locations: Russia, U.S, Paris, China, India, United States

☆ BlackRock's Gargi Chaudhuri shares how to invest as ETF inflows soar to records ahead of a promising 2025
▼ + stars: | 2024-11-15 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

AdvertisementHowever, BlackRock's Gargi Chaudhuri doesn't think President-elect Trump deserves all the credit for this astounding market rally. "Obviously, there have been some pretty sharp movements over the course of the last week," Chaudhuri told Business Insider. Corporate earnings growth is arguably the most compelling reason to stick with US stocks following what's been another outstanding performance this year. "One of the things that the equity market has done over and over again is continue to surprise us in terms of earnings growth," Chaudhuri said. AdvertisementWhere to invest in a rosy 2025Two sectors with abnormally strong earnings prospects are financials and industrials, Chaudhuri said.

Persons: BlackRock's Gargi Chaudhuri, —, Donald Trump's, there's, BlackRock's Gargi Chaudhuri doesn't, Trump, Chaudhuri, They've, they're, " Chaudhuri Organizations: Service, BlackRock, Federal Reserve Locations: Americas

☆ Spirit is struggling to survive. Bankruptcy could mean other airlines raise their prices.
▼ + stars: | 2024-11-15 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Flying could become more expensive for some passengers if Spirit Airlines falls into bankruptcy protection. The company's stock tanked Wednesday after The Wall Street Journal reported Spirit was preparing to file for Chapter 11 within weeks following the breakdown of merger talks with Frontier Airlines. Frontier Airlines is based in Denver. "The domestic US air travel market does need some rationalization, and it is likely to start with Spirit Airlines," McNally said. AdvertisementThe airline's bankruptcy could be a warning that the era of budget airlines' power is coming to a close.

Persons: Guy, Raymond James, David Neeleman, Denver . Don Mammoser, Peter McNally, McNally Organizations: Airlines, Street Journal, Frontier, Spirit Airlines, Street, Frontier Airlines, American Airlines, JetBlue, Big Locations: Charlotte , North Carolina, Los Angeles, Denver .

After Republican President-elect Donald Trump’s dramatic performance with Latino voters, a coalition of Democratic-leaning Latino groups is grappling with the shift and trying to reconcile it with the policies they say many Hispanics support. Along with UnidosUS, Latino-focused advocacy groups such as Voto Latino, Somos Votantes, Hispanic Federation and La Brega y Fuerza Fund sponsored a poll of Latino voters. The coalition rejected national exit poll findings showing that Trump won the majority of Latino men — 55% — to Harris’ 43%. Edison Research, which conducts national exit polling for NBC News and other news organizations, surveyed 2,750 Latino voters nationally. Thirty-seven percent of male participants in exit polling identified as white, while 6% identified as Latino in the Latino groups’ poll.

Persons: Donald Trump’s, —, Clarissa Martinez de Castro, Kamala Harris, ” Martinez de Castro, ”, Somos, Donald Trump, Anna Moneymaker, Martinez de Castro, Trump, Harris, Matt Barreto, “, Rob Farbman, Latinas, Joe Biden, Starr County, Gary Segura, ” Segura, Barreto, Carlos Odio, Vanessa Cardenas, ” Cardenas Organizations: Republican, Democratic, Democratic Party, Latino, UnidosUS, Republicans, Hispanic Federation, Brega, Fund, American Civil Liberties Union, Advancing Justice, Climate Power, Nations Development Institute, Trump, Harris ’, BSP Research, African American Research, Harvard University, American, NBC, Edison Research, NBC News, Edison, Biden, Dade, Equis Research, America’s Locations: Doral, Fla, Miami, Florida, South Texas, Rio Grande, Starr, U.S

☆ Amazon launches fixed pricing for treatment of conditions such as hair loss. Hims & Hers stock drops 24%
▼ + stars: | 2024-11-14 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Amazon on Thursday announced Prime members can access new fixed pricing for treatment of conditions like erectile dysfunction and men's hair loss, its latest effort to compete with other direct-to-consumer marketplaces such as Hims & Hers Health and Ro. Medications filled through Amazon Pharmacy are eligible for discounted pricing and will be delivered to patients' doors in standard Amazon packaging. Analysts at Bank of America downgraded shares of Hims & Hers from buy to underperform on Thursday, citing Amazon's push into hair loss and erectile dysfunction markets. The analysts said Hims & Hers generates more than 80% gross margins from its core erectile dysfunction and hair loss offerings, and estimate that Amazon's medications for those conditions are about 42% and 29% cheaper respectively. Amazon introduced, and later shuttered, a telehealth service called Amazon Care, as well as a line of health and wellness devices.

Persons: —, Annie Palmer Organizations: Amazon, Amazon Pharmacy, Bank of America, CNBC Locations: PillPack

☆ Landry CEO Fertitta becomes Wynn Resorts' largest individual shareholder with nearly 10% stake
▼ + stars: | 2024-11-14 | by ( Contessa Brewer | ) www.cnbc.com time to read: +3 min

Billionaire Tilman Fertitta has increased his ownership stake in Wynn Resorts to 9.9%, according to a filing with the U.S. Securities and Exchange Commission. Wynn Resorts and Fertitta declined to comment on his increased stake. He is frequently outspoken about issues that affect Las Vegas, whether it is Formula One or historic union wage contracts. Wynn Las Vegas is the top-of-the-line, uber-luxurious resort on the Strip, and it owns two high-end resorts in Macao. That position gave him a 6.2% stake in the company and made him the second-largest individual shareholder in Wynn, after co-founder Elaine Wynn.

Persons: Billionaire Tilman Fertitta, Jefferies, David Katz, Wynn, Craig Billings, Ras Al Khaimah, Fertitta, Elaine Wynn, Steve Wynn Organizations: CNBC, Wynn Resorts, U.S . Securities, Exchange Commission, Hilton, Fertitta, Houston Rockets, Golden, Las, Wynn, United, United Arab Emirates, United Arab Locations: U.S, Las Vegas, Wynn Las, Macao, United Arab, Ras Al, United Arab Emirates, Wynn

☆ Here's why investors are so excited about Disney's quarterly results
▼ + stars: | 2024-11-14 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Revenue in the fiscal fourth quarter totaled $22.57 billion, topping the $22.45 billion expected by analysts, according to estimates compiled by LSEG. And the good run should continue, with management forecasting earnings growth acceleration over the next couple of years. Roughly $15 billion in cash flow from operations vs. $14.8 billion expected, and about $8 billion in capital expenditures vs. $6.54 billion expected. That implies free cash flow of about $7 billion vs. $8.1 billion expected. In entertainment, the team forecasts double digit percentage growth in operating income, with 10% operating margin in its streaming businesses.

Persons: Robert Iger's, Iger, hasn't, Jim Cramer's, Jim Cramer, Jim, Mickey Mouse, Mouse, Gary Hershorn Organizations: Disney, Revenue, LSEG, Management, ESPN DTC, ESPN, DIS, Comcast, Netflix, Warner Bros Discovery, Paramount Global, Sports, CNBC, Magic, Walt Disney World, Corbis, Getty Locations: Florida, India, Orlando , Florida

☆ Stocks making the biggest moves after hours: Domino's Pizza, Ulta, Applied Materials, Palantir and more
▼ + stars: | 2024-11-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Domino's Pizza , Ulta Beauty — Shares surged about 8% after Berkshire Hathaway announced a new stake in the pizza chain in a regulatory filling. The Warren Buffett-led firm bought more than 1.2 million shares, making the stake worth around $550 million at the end of September. Applied Materials — The semiconductor equipment manufacturer slid 5% after offering a weak revenue outlook for the current quarter. Applied Materials said to anticipate $7.15 billion in the first fiscal quarter, under the estimate of $7.224 billion from analysts polled by LSEG. Palantir will continue trading under the same ticker and expects to meet requirements to be listed in the Nasdaq 100 .

Persons: Berkshire Hathaway, Warren Buffett, Ulta, Despegar.com, FactSet, Robert F, Kennedy Jr, Donald Trump's Organizations: Berkshire, Materials, LSEG, Technologies, New York Stock Exchange, Nasdaq, Palantir, Department of Health, Human Services, Moderna, Pfizer Locations: Despegar.com —, Argentina

☆ Piper Sandler upgrades Campbell Soup to buy, highlights sauces brand Rao's
▼ + stars: | 2024-11-14 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Campbell Soup has a promising long-term growth outlook thanks to Rao's, its popular sauces brand, according to Piper Sandler. The company completed its acquisition of Rao's parent company Sovos Brands earlier this year for approximately $2.7 billion. The stock is also down more than 10% over the past three months, indicating a good entry point for investors, the analyst added. "Continued strong growth [is] expected" for the Rao's brand, he added. Lavery added that potential steel tariffs under President-elect Donald Trump's second administration could present headwinds to Campbell Soup, which uses steel for its soup cans.

Persons: Campbell, Piper Sandler, Michael Lavery, Lavery, Donald Trump's Organizations: Sovos Brands Locations: Italy

☆ Advance Auto Parts is closing more than 700 locations
▼ + stars: | 2024-11-14 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Advance Auto Parts is closing more than 700 locations to shore up the company’s finances following another dismal earnings report. The car parts retailer, which has about 5,000 stores, said Thursday that the closures are part of its “strategic plan to improve business performance.” Advance Auto Parts (AAP) shares slid nearly 5% in premarket trading after it reported earnings that missed analysts’ expectations. The reduction will result in closing roughly 500 corporate-owned stores plus about 200 independently operated locations. The company did not immediately provide a full list of locations set to close. It recently sold Worldpac, an automotive parts wholesaler, for $1.5 billion as part of “simplification” of its business model.

Persons: — Organizations: New, New York CNN, Parts, Advance, Research, Companies, Consumers Locations: New York

☆ JPMorgan loves Netflix, predicts Tyson-Paul fight could be most-watched boxing match ever
▼ + stars: | 2024-11-14 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Friday could be a big day for Netflix , according to JPMorgan. The company is set to stream a boxing match between influencer Jake Paul and legend Mike Tyson from the AT & T Stadium in Texas. JPMorgan thinks the fight could be a record breaker and bolster Netflix's ad-tier subscriptions. Enthusiasm around the stock has jumped since Netflix boasted a top- and bottom-line beat for the third quarter last month. LSEG data shows that, of the 48 analysts covering it, 33 rate Netflix a buy or a strong buy.

Persons: influencer Jake Paul, Mike Tyson, Jake Paul, Doug Anmuth, Paul, Tyson, Anmuth Organizations: Netflix, JPMorgan, T, National Football League Locations: Texas

☆ Here are our top 5 performing stocks since October's Monthly Meeting
▼ + stars: | 2024-11-14 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Overall, the S & P 500 jumped 2.4% since the last monthly meeting, while the Nasdaq and Dow climbed 4.5%, and 2%, respectively. Wells Fargo up 13.9% Ever since the Fed kicked off its monetary easing cycle with a jumbo 50-basis-point rate cut in mid-September, financial names have soared. Wells Fargo, which did take a hit one week ago, posted a record-high close Wednesday. Research analysts at Bank of America, for example, raised their price target on Wells Fargo Monday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: It's, Donald Trump, Dow, Wells Fargo, Morgan Stanley —, Morgan Stanley, Bank of America —, Wells, Trump, dinged, Morgan, Jim Cramer's, Jim Cramer, Jim, Stephani Spindel Organizations: Nasdaq, Big Tech, Club, Microsoft, Trump, Depot, Dow, Wall Street, Jefferies, Bank of America, Meta, Fed, Wall, Research, Wells, Palo Alto Networks, Jim Cramer's Charitable, CNBC, New York Stock Exchange Locations: Wells, BlackRock, CrowdStrike, Wells Fargo, Amazon, American, Manhattan, New York City, U.S

☆ Amazon just released its Temu killer and Bank of America likes the move
▼ + stars: | 2024-11-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Bank of America sees Amazon' s discount storefront offering as a beneficial tool in fending off Temu and Shein. The e-commerce giant launched its Haul platform on the Amazon app, exclusively featuring products under $20. Bank of America analyst Justin Post said Temu and Shein's growth over the past year created a headwind of 1 percentage point for Amazon, according to an analysis of Bloomberg Second Measure data. Amazon's new offering comes as retailers have tried to compete with Temu and Shein, which are known for their low price tags. He said Amazon and these other companies could face obstacles if President-elect Donald Trump's proposed tariffs on imports come to fruition.

Persons: Justin Post, Temu, Donald Trump's, Post, LSEG Organizations: of America, Shipping, Bank of America, Amazon, Bloomberg

☆ Embattled fashion house Burberry reveals massive overhaul sending shares to an all-time high
▼ + stars: | 2024-11-14 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Analysts responded positively to the news, pointing to a potential "turning point" for the embattled brand. The plans were delivered alongside Burberry's 2024 interim results, which saw sales fall 20% for the second consecutive quarter. A 'turning point' for embattled BurberryThe underperformance comes amid a wider slowdown in the luxury sector, with the personal luxury goods market set to contract 2% this year. Mamta Valechha, consumer discretionary analyst at Quilter Cheviot, described it as a "turning point in what has been a very difficult period." Pedestrians walk past the window display of the store of British fashion label Burberry, in central London, on September 2, 2024.

Persons: Kevin Lee, Schulman, Joshua Schulman, Michael Kors, Burberry, Burberry Schulman, Burberry's, Piral Dadhania, Dadhania, Mamta, Cheviot, Henry Nicholls Organizations: Getty, Burberry, RBC Capital Markets, Afp Locations: Shanghai, London

☆ Apple's future product lineup is starting to come into focus
▼ + stars: | 2024-11-14 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Apple is exploring new headsets and smart-home devices to expand its lineup. Its plans don't always work out; it scrapped a car project and faces weak demand for the Vision Pro. The company in February scrapped plans for a car, and its $3,500 Vision Pro has gotten mixed reviews in the months since its release. Bloomberg on Tuesday reported on a wall-mounted smart-home tablet in Apple's production lineup that could operate home appliances, use Apple Intelligence, and access Apple apps. AdvertisementThe report said the project, code-named J490, could come as early as March, a month before new Apple Intelligence features are expected to roll out.

Persons: —, Mark Gurman, Ming, Chi Kuo, Apple's, Gurman, Apple, EMARKETER, Kuo, Meta, William Kerwin, Tim Cook, who's Organizations: Apple, Vision, Service, Bloomberg, Apple Intelligence, Big Tech, Asset Management, Business Locations: Taiwan, Morningstar

☆ Trump victory drives gold to near 2-month lows as investors pile into equities, cryptocurrencies
▼ + stars: | 2024-11-14 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Gold prices extended their decline to a near two-month low Thursday amid risk-on sentiment and as the dollar continues to strengthen following Donald Trump's election victory last week. He elaborated that gold prices are likely to trade lower as U.S. equities rally on prospects of lower tax and regulations. In spite of the slide in gold prices, market watchers are still optimistic on the fundamentals of the bullion. The underlying drivers of the gold market are still in place, Layton said. A mix of rising debt, geopolitical tensions and central bank demand are expected to support higher gold prices, said Canaccord Genuity.

Persons: Donald Trump's, Maximilian Layton, bitcoin, Trump, Layton, Commonwealth Bank of Australia's Vivek Dhar, Nicky Shiels, Canaccord, Trump's, Canaccord Genuity Organizations: Co, New York Mercantile, White, CNBC, U.S, Commonwealth Bank of Australia's, MKS Locations: Bangkok, Thailand, U.S, bitcoin, Central

☆ Smart ring leader Oura plans international push as CEO touts new features and thinking on hardware
▼ + stars: | 2024-11-14 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

The Oura Ring 4 Courtesy: OuraLISBON — Samsung's foray into smart rings isn't concerning the boss of the product category's pioneer, Oura — in fact, Tom Hale says he's seeing a boost in business. Oura's flagship product is the Oura Ring 4, a device known as a smart ring. Founded in Finland in 2013, the company has been called a pioneer by analysts in the smart ring space. CCS Insight forecasts Oura will end the year with a 49% market share in smart rings. New hardware and AIWhile Oura only sells rings currently, Hale sees the company developing new products in the future.

Persons: Oura, Tom Hale, Hale Organizations: CNBC, Web, CCS, Samsung, U.S . Food, Drug Administration, Apple, International Locations: LISBON, Lisbon, Finland, U.S

☆ This 145-year-old British engineering firm is set to benefit from an onshoring and automation trend — with analysts giving the stock 60% upside
▼ + stars: | 2024-11-14 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

A 145-year-old British industrial company is positioned to capitalize on major trends, including the reshoring of manufacturing and increased defense spending, according to analysts at Shore Capital. London-listed Renold plc , which traces its roots to 1879 and Hans Renold , the inventor of roller chains, is the world's second-largest industrial chain manufacturer. Shore Capital has a "buy" rating and a target price of 90 pence per share, which points to more than 60% upside from the current share price of 55 pence. U.K. shares are generally priced in pence, with 100 pence equal to one British pound ($1.27). In September, Renold acquired MAC Chain Company for $31.4 million, expanding its presence in the United States and Canada even further.

Persons: Hans Renold, Donald Trump, Akhil Patel, Renold, Robert Purcell Organizations: Shore Capital ., Renold, Shore Capital, Shore, MAC Chain Company, The Shore Capital Locations: Shore Capital . London, Manchester, U.S, China, United States, United Kingdom, Australia, Canada

☆ Bitcoin could hit $100,000 by Inauguration Day, says crypto expert—what a Trump Presidency could mean for digital assets
▼ + stars: | 2024-11-14 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

"A Kamala presidency would have meant the same exact things for crypto and digital assets in four years' time as a Trump presidency," Brokate says. Part of crypto's upward price momentum stems from investor optimism in what a Republican-controlled government could mean for digital assets, Brokate says. But forward-looking investors say that the current market for crypto is barely scratching the surface of potential investor demand. That is, crypto advocates say, if the U.S. government provides a clearer regulatory framework for financial institutions to market and sell crypto and other digital assets to customers. Ideally, crypto enthusiasts say, the U.S. would eventually establish regulatory frameworks similar to the one that exists in Europe known as MiCA — Markets in Crypto Assets.

Persons: Kamala, Trump, Brokate, Federico Brokate, bitcoin, Geoff Kendrick, Andy Baehr, hasn't, Baehr Organizations: Republican, Trump, Crypto, CNBC Locations: U.S, Europe

☆ Britain's car finance industry is in crisis – with banks bracing for billions in payouts
▼ + stars: | 2024-11-14 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

Mike Kemp | In Pictures | Getty ImagesBritain's motor finance industry is in disarray, with analysts warning of worst-case scenarios similar in magnitude to the country's costliest consumer banking scandal. The decision caught many in the motor finance industry off guard and appears to have paved the way for a multi-billion-pound redress scheme to compensate consumers. It urged motor finance groups to consider setting aside financial provisions to resolve the high volume of complaints. According to the banks, they followed the rules and guidelines set by the FCA, which are not aligned with the new Court of Appeal ruling," Kammer told CNBC via email. The FCA has said that it will await the outcome of a potential Supreme Court ruling before taking a decision on the matter," Kammer said.

Persons: Mike Kemp, Banks, Niklas Kammer, Kammer, Benjamin Toms, Toms, John Keeble Organizations: Royal Exchange, City of, Appeal, Authority, FCA, Morningstar, Lloyds, Horse, Barclays, Lloyds Banking, Bloomberg, Getty, of, CNBC, PPI, RBC Capital Markets, Taxis, Fenchurch, Station Locations: City, City of London, London, United Kingdom, U.K

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