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☆ Inflation, earnings and AI are the three market drivers we're watching this week
▼ + stars: | 2024-10-06 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Friday's rally on a strong jobs report gained momentum into the close and pushed the stock market into the green for the week. Inflation data: The September consumer price index (CPI) report is out Thursday. The September producer price index (PPI) is out Friday. Jim said last week that investors who don't own AMD shares should buy some ahead of CEO Lisa Su's presentation. ET: Consumer price index 12 p.m.

Persons: we'll, Jim Cramer, Friday's, Matthew Graham, Israel, Joe Biden, Wells, Jim, we're, We're, Morgan Stanley, Lisa Su's, Su, Jim Cramer's, Michael M Organizations: Dow, Nasdaq, Federal, Mortgage News, Mortgage News Daily, CNBC, Devices, PPI, Bank, Nvidia, SOXX Semiconductor, PepsiCo, Delta Air Lines, DAL, JPMorgan, Jim Cramer's Charitable, Traders, New York Stock Exchange, Santiago, Getty Locations: U.S, Iran, Israel, Wells Fargo, BlackRock, New York City

☆ I worked as a wealth advisor for Goldman Sachs. Here's what I learned from how the super rich manage their money.
▼ + stars: | 2024-10-06 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +8 min

Ayesha Ofori worked in wealth management for Goldman Sachs for six years. AdvertisementThis as-told-to essay is based on a transcribed conversation with 40-year-old Ayesha Ofori, CEO of Propelle, from London, about her experience working at Goldman Sachs. If you'd asked me what success looked like at the time, it would've been being a partner at Goldman Sachs. AdvertisementSaving money isn't enoughWhen I was at Goldman Sachs, I noticed we didn't have many women clients. When I worked at Goldman Sachs, I was focused on paying off my student loans and saving money.

Persons: Ayesha Ofori, Goldman Sachs, Ofori, —, Goldman, I'd, you'd, would've, I'm, It's, I've, you'll Organizations: Service, Goldman Sachs, Business, Columbia Business School, Goldman, Invest Locations: London, New York

☆ Why Texas Latinos Are Shifting to the Right, Voting for Trump
▼ + stars: | 2024-10-06 | by ( Jack Herrera | ) www.businessinsider.com time to read: +18 min

Jordan Vonderhaar for BIIn late July, after Biden dropped out of the race, I traveled to Starr County to see why this longtime Democratic stronghold has been shifting steadily to the right. Like the mesquite and huisache that thrive in this arid climate, he has deep roots in Starr County. If any place embodies the dual identity among Latinos in Starr County, it's the Rancho Cafe in the tiny town of Roma. The Rancho Cafe — part Old West saloon, part Tex-Mex hangout — embodies the dual identity of local Latinos. Across the country, Latino Republicans say they feel more able to wear their politics on their sleeve.

Persons: Donald Trump, Alexis García, Trump, García, Bernie Sanders, Hillary Clinton, Starr, Trump's, —, baldy, he'd, — you've, Jordan Vonderhaar, MAGA, provocateurs, Joe Biden, Biden, Kamala Harris, hicks, In, Benito Treviño, Todos, Treviño, Treviño's, Toni Treviño, Toni, Harris, Aliriam Perez, Miguel de Alemán, Perez, Perez wasn't, George Floyd, they've, pollsters, Rick Guerra, Guerra, George W, Bush, Roel Reyes, TRUMP, Reyes, Jack Herrera Organizations: Democratic, Trump, Republican, BI, In Trump, South Texans, American, Democrat, Republican Party, Democratic Party, Republicans, Democrats, Alabama Dairy, Army, Texas Lone Star, Border Patrol, Local Democrats, Los Angeles Times, Texas Locations: New York City, Texas, Rio Grande City, Starr County, Trump, la, South Texas, Starr, America, American, Arizona, Nevada, MAGA, Hollywood, Rio Grande, Mexico, Benito, Houston, Roma, sipping, Mexican, West Texas, Alabama, Iraq, Afghanistan, Guerra's

☆ Calvin Buari served 22 years for two murders he didn’t commit. He says prison saved his life
▼ + stars: | 2024-10-06 | by ( Faith Karimi | ) edition.cnn.com time to read: +12 min

Calvin Buari with podcaster and former journalist Steve Fishman in a photo taken after Buari's release. He began selling drugs as a teenager so he could buy a pair of Air JordansBuari was a savvy — and flashy — drug dealer. His flamboyant role as a drug dealer made him unsympathetic and an easy target for a conviction, he says. And now, prison was no longer my destiny.”Seven years later, he’s on a path to redemptionSince his release from prison, Buari has been a busy man. Part of that involves thinking about the lives and neighborhoods he destroyed as a drug dealer, he says.

Persons: CNN — Calvin Buari, he’d, Buari, Uber, ” —, “, …, BMW Buari, New York City —, ”, Steve Fishman, Fishman, he’s, Calvin Buari, Exonerations, Jordans Buari, Rudy Giuliani, ” Buari, “ ‘ Young, Elijah, Salhaddin Harris, Prosecutors, Edward Keating, Myron Beldock, Beldock, Rubin “, ” Carter, —, Oscar Michelen, who’d, “ I’ll, He’s, He's, ” Fishman, Michelen, … I’m, It’s Organizations: CNN, Volkswagen Jetta, Green, Green Haven Correctional Facility, Service, VW, BMW, fedora, “, Cal, National Registry, Statistics, Fila, Air, East 213th St, Supreme, Green Haven Correctional, The New York Times, Central, New York Locations: Green Haven, Stormville , New York, Bronx, New York City, Versace, East, New York, Texas, Houston, Houston , Texas, New, New Jersey

☆ I took my 86-year-old mom on a river cruise. The smaller ship and bingo nights were perfect for her.
▼ + stars: | 2024-10-05 | by ( Rebecca Deurlein | ) www.businessinsider.com time to read: +4 min

I took a river cruise because it was on my mom's bucket list. AdvertisementI took my first river cruise somewhat reluctantly. I wanted these memories with my mom, and a small cruise like this one was manageable and easy. AdvertisementThe small ship made it easier for her to navigateAmerican Cruise Lines booked everything for us, including flights and our pre-cruise hotel. AdvertisementWhile I might not have quite been the target demographic for our river cruise, my mom was, and I got to witness and share in her absolute delight.

Persons: —, Lewis, Clark, I'm, Mom, kayaked, adieu Organizations: Service, American Cruise Lines, Cruise Lines, American Harmony Locations: Columbia, Idaho, Washington, Oregon, American, Astoria , Oregon, Mount St, Helens

☆ Black bear killed while trying to get to pancakes along Tennessee highway
▼ + stars: | 2024-10-04 | by ( Rebecca Cohen | Rebecca Cohen Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

A black bear was hit by a car and killed on a Tennessee highway after it found a delicious snack on the side of the road while it was bulking up for winter, officials with the Appalachian Bear Rescue said on Facebook. The rescue group, or ABR, said it received a report of an adult black bear that had been struck and killed on Highway 321 coming into Townsend, Tennessee, on Tuesday. While inspecting the bear's remains, they then saw what drew the bear to the busy highway in the first place — a platter of pancakes. "With fall hyperphagia in full swing, the male bear probably saw the pancakes as an easy, high caloric meal." The agency reminded residents to live responsibly in the area, where black bears are common.

Persons: ABR Organizations: Appalachian Bear, Facebook Locations: Tennessee, Townsend , Tennessee

☆ RBC gives its top stock picks for the fourth quarter
▼ + stars: | 2024-10-04 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

The fourth quarter is just getting started, and RBC Capital Markets sees some stocks slated for growth in the months ahead. Looking ahead, RBC unveiled a list of its top 30 high-conviction global stock ideas that it thinks are poised to outperform in the long term. As a result, RBC has an outperform rating on the name, with a price target of $48. "As proof-points to the success of this strategy emerge, we believe the stock could begin to re-rate higher," the analyst said. Software name CrowdStrike and British oil giant Shell were also picked for the fourth quarter's list.

Persons: Brad Erickson, Daniel Perlin, Perlin, Ferrari, Tom Narayan Organizations: RBC Capital Markets, Dow Jones, RBC, Sarepta Therapeutics, Amazon, P Global, PayPal, Reuters Locations: Italy

☆ A majority of North Carolina homeowners didn't have flood insurance. Then Helene hit.
▼ + stars: | 2024-10-04 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +7 min

Heavy rains from Hurricane Helene caused flooding across western North Carolina, like here in Asheville. Melissa Sue Gerrits/Getty ImagesBut only about 2.6% of the 4.3 million properties across the state — or around 115,000 properties — had flood insurance as of June 2024, according to private provider Neptune Flood Insurance, which analyzed data from the government-backed National Flood Insurance Program. North Carolina Department of Insurance communications director Jason Tyson estimated that about 139,000 properties in the state have flood insurance through the NFIP. Part of the problem with flood insurance is a common misconception that regular home insurance covers flooding, which is rarely the case, four experts knowledgable about flood insurance and disaster management told Business Insider. "We don't think of western North Carolina and the Appalachian mountains as an area that has significant flood risk."

Persons: Hurricane Helene, Melissa Sue Gerrits, Neptune, Jason Tyson, Sue Gerrits, Trevor Burgess, Jeffrey Schlegelmilch, Schlegelmilch, Margaret Walls, they're, there's, It's, it's, Helene, Jeremy Porter, Burgess, Yanjun Liao, Liao Organizations: Service, North, Climate Office, Neptune Flood Insurance, Flood Insurance, North Carolina Department of Insurance, The North, Information Center, Business, Getty, National Center for Disaster Preparedness, Columbia Climate School, FEMA, Associated Press, Resources Locations: Hurricane, North Carolina, Asheville, —, The, The North Carolina, Black Mountain , North Carolina, State, North, Florida , Louisiana, Texas, Asheville , North Carolina

☆ Medicare shake-up sends Humana stock down 23% in a week for its worst drop since 2009
▼ + stars: | 2024-10-04 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Humana's stock is down 23% in its worst weekly drop since 2020 and biggest two-day decline since 2009. The drop comes as Medicare downgraded ratings on some of Humana's health insurance plans. The health insurer's shares are down 23% since the start of the week, marking its biggest weekly drop since 2020 and its biggest two-day decline in 15 years. Over those days, the stock declined 22%, the biggest two-day drop since the financial crisis in 2009. They said Medicare Advantage plans could see further pressure if Democrats win in the upcoming elections, which would hinder Humana's recovery.

Persons: —, It's, AJ Rice, Humana's downgrades Organizations: Service, Humana, UBS, Bank of America

☆ Leaders from BCG, Infosys, AARP, and more predict how AI will transform top companies in the next 12 months
▼ + stars: | 2024-10-04 | by ( Julia Hood | Tim Paradis | ) www.businessinsider.com time to read: +17 min

During a virtual roundtable, we asked Business Insider's Workforce Innovation board to tell us how AI would transform companies over the next year. How will the most innovative companies be transformed by AI over the next 12 months? Last year, we had an AI challenge across the company, and a huge percentage of our employees participated. There are a lot of different points of view on what AI will and will not do and how quickly. And that the promise we think AI is going to deliver will probably take longer than we think to come to fruition.

Persons: Tim Paradis, Vinod Khosla, Khosla, upskilling, Justina Nixon, Nixon, Saintil, AARP's Marjorie Powell, Powell, Chris Deri, Anant Adya, Marjorie Powell, Alicia Pittman, We've, We're, It's, coder, Maggie Hulce, Salesforce, what's, Chen, we've, Weber, everybody's, Anant, Shane Koller, Tipton Organizations: Sun Microsystems, Weber, IBM, Saintil, Infosys, AARP, Boston Consulting, Clear, Federal Housing Finance, Street Locations: Dreamforce, San Francisco, Tipton

☆ The beginner's guide to nepo babies
▼ + stars: | 2024-10-04 | by ( Amanda Yen | ) www.businessinsider.com time to read: +9 min

AdvertisementThere's one other field that's become a magnet for nepo babies with something new to say: journalism. The coastersBrooklyn Peltz Beckham and Nicola Peltz Beckham at the Academy Museum Gala in December 2023. Brooklyn Peltz Beckham and Nicola Peltz Beckham also fall into this category. The activistsSome nepo babies use their inherited millions to address social issues they're passionate about. The normiesLastly, there are some nepo babies who have chosen professions in fields where their connections won't help them quite as much.

Persons: —, John Quincy Adams, John Adams, Liza Minnelli, Judy Garland, Chan Zuckerberg, Mark Zuckerberg, Taylor Swift, Zuckerberg, Forbes — isn't, ultrarich, Alexandre Arnault, Antoine Arnault, Delphine Arnault, Bernard Arnault, Vianney Le Caer, Murdoch, Donald Trump, Fred Trump, Bill Gates, David Ellison, Larry Ellison, Jessica Pegula, Emma Navarro, Bruce Springsteen, Michael Bloomberg, Lance, Lawrence, Williams, Logan Sargeant, McLaren, Lando Norris, Jack Schlossberg, Kennedy, who's, Z's, Ronan Farrow, Mia Farrow, Woody Allen, rocketed, Harvey Weinstein, Brooklyn Peltz Beckham, Nicola Peltz Beckham, Frazer Harrison, Paris Hilton, Olivia Jade Giannulli, Lori Loughlin, she's, David, Victoria Beckham, Nelson Peltz, Abigail Disney, She's, Zers, Elon Musk's, Vivian Wilson, Jennifer Gates Nassar, Charles Shaffer, Anna Wintour Organizations: Service, Fox, News Corp, Oracle, Skydance Media, Aston Martin, New Yorker, Brooklyn, Academy Museum, Paris, Hilton, University of Southern, Zen, Disney, Bank of Mom, Vogue, Columbia University Locations: —, New, University of Southern California, Mount Sinai

Two racing teams, one owned by basketball legend Michael Jordan, filed a federal lawsuit on Wednesday, accusing NASCAR operators of being "monopolistic bullies" who line the pockets of the circuit's founding family. "The France family and NASCAR are monopolistic bullies," according to the lawsuit. A NASCAR rep on Wednesday morning said the motorsport organization was still reviewing the complaint and could not immediately comment. Racing teams receiving only about 13% of NASCAR's ever-increasing revenues, which include TV deals signed since 2001 worth about $23.1 billion, according to Polk. "By exploiting its monopoly power over the racing teams, NASCAR has been able to impose anti-competitive terms as a condition of a team’s access to competitions."

Persons: Michael Jordan, Racing, Jim France, Bill France, Bob Jenkins, 23XI, Denny Hamlin, Curtis Polk, James, “ Jim ”, Plaintiff's, Jeffrey Kessler, ”, “, it’s, ” Jordan, Jordan Organizations: NASCAR, Motorsports, Jordan, Racing, NFL, NBA, Chicago Bulls Locations: U.S, Charlotte , North Carolina, Polk, France

The news is a particular blow to Vice President Kamala Harris, since the union was the first to endorse Joe Biden's presidential bid in 2020. In a statement, Edward A. Kelly, the union's president, said that the group's executive board voted on Thursday by 1.2% not to endorse. Both presidential campaigns made personal appeals to the union’s members at a convention in Boston in August, with Minnesota Gov. Last month, the Teamsters union, which represents over 1 million truck drivers, freight workers and others, also declined to endorse a presidential candidate. The AFL-CIO and the United Auto Workers union — which represent millions of workers combined — have each endorsed Harris this cycle.

Persons: Kamala Harris, Joe Biden's, Edward A, Kelly, Tim Walz, Ohio Sen, JD Vance, Harris, Biden, Trump, I’ll, Walz, Vance, Trump's, ” Vance, Matt, “ Organizations: International Association of Fire Fighters, Minnesota Gov, Ohio, Washington , D.C, WIN, Teamsters, AFL, United Auto Workers union, Trump Locations: U.S, Canada, Boston, Washington ,, Dayton , Ohio

Former NASCAR driver Greg Biffle has been using a private helicopter to deliver supplies to stranded victims of Hurricane Helene in parts of western North Carolina. The NASCAR Hall of Fame nominee and pilot is documenting the supply runs on X, where commenters are praising him for his efforts. The NASCAR star has also alerted family members of stranded hurricane victims that their loved ones are alright. When one X user asked how she could connect Biffle to those in need of his assistance, Biffle responded, "Coordinates please." He started 515 NASCAR Cup Series races throughout his career with 19 wins and was the first driver to win championships in both the Xfinity Series and the Truck Series.

Persons: Greg Biffle, Hurricane Helene, Biffle, Biff Organizations: NASCAR, NASCAR Hall of Fame, Biffle, Power Locations: Hurricane, North Carolina

☆ McDonald’s is finally selling the Chicken Big Mac in the US
▼ + stars: | 2024-10-03 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —When McDonald’s rolled out the Chicken Big Mac in the United Kingdom, it sold out within 10 days. The Chicken Big Mac is similar to its beefy sibling; however, it replaces the two burgers with two tempura chicken patties. It also includes the signature Big Mac sauce, pickles, shredded lettuce and a slice of American cheese. In a press release Thursday, McDonald’s says that its customers have been “clamoring” for the Chicken Big Mac after making previous appearances on the chain’s menu across the world. The Chicken Big Mac has made a brief appearance in the US before: In 2022, McDonald’s released it as a test in some of its Miami restaurants to gather feedback from customers.

Persons: McDonald’s, Chris Kempczinski, it’s, ” Organizations: New, New York CNN Locations: New York, United Kingdom, United States, Ireland, Miami, Canada

☆ Tesla recalls 27,000 Cybertrucks due to a rearview camera issue
▼ + stars: | 2024-10-03 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Tesla is recalling roughly 27,000 Cybertrucks because of a rearview camera issue that delays the image being displayed on the dashboard, increasing the risk of a crash. The rearview display might appear blank for up to 8 seconds when the Cybertruck is put in reverse, according to a filing from the National Highway Traffic Safety Administration (NHTSA). Tesla has released a free, over-the-air software update to fix the issue. In January, Tesla issued a software recall for 2.2 million of its vehicles, including Cybertrucks, because letters on warning lights were too small to easily read. Tesla this week reported an increase in sales for the first time this year, although its year-to-date sales still trail the same period in 2023.

Persons: New York CNN — Tesla, Tesla, “ Organizations: New, New York CNN, National, Traffic Safety Administration, NHTSA Locations: New York

☆ A three-headed economic monster lurches into the presidential campaign
▼ + stars: | 2024-10-03 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —With barely a month to go before the US presidential election, a trifecta of economic shocks is threatening to sap Vice President Kamala Harris’ momentum on voters’ No. 1 issue: a port strike, a hurricane and an escalation of fighting in the Middle East. Price pain could crop up elsewhere if the East Coast port strike, which began Tuesday, drags on longer than a week. “If the Boeing strike and the port strike … last through the second week of October, job growth for October could be negative,” researchers at Oxford Economics wrote Wednesday. A negative jobs report hasn’t been seen in this country since December 2020, the last full month of the Trump administration.

Persons: CNN Business ’, Kamala Harris, Donald Trump hasn’t, “, ”, Harris, Emily Elconin, Harris ’, Price, Biden, Hurricane Helene, Moody’s, Helene, hasn’t, Trump, — Organizations: CNN Business, New York CNN, Republican, Democratic, Bloomberg, Getty, Boeing, Biden, Oxford Economics Locations: New York, Georgia, East, Maine, Texas, Carolinas, Florida, Tennessee

☆ Amazon plans to hire 250,000 workers for the holidays, same as last year
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: +2 min

It was unclear what percentage of the 250,000 seasonal workers, which include staff in sort centers, fulfillment centers and delivery stations, would be in fulfillment centers or transport employees. The transport employees will not include delivery service partners or their teams, according to a company spokesperson. Online holiday shoppers are expected to spend a record $240.8 billion, up 4.9% from last year. While Amazon's hiring plans remain flat compared to last year, the company is still outpacing big box competitor Target, which will tack on 100,000 workers for the season. An Amazon spokesperson said the Teamsters have "misrepresented the facts" as the union accuses Amazon of retaliating against BTS for drivers unionizing.

Persons: Sandy Gordon Organizations: Global Operations, Mastercard, National Labor Relations Board, International Brotherhood of Teamsters, Amazon, Teamsters, BTS, unionizing Locations: Tracy , Calif

☆ Modelo brewer Constellation falls despite an earnings beat. Here's why we're not concerned
▼ + stars: | 2024-10-03 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +10 min

Modelo and Corona brewer Constellation Brands is a tale of two businesses. Constellation Brands Why we own it : Constellation Brands' beer franchise, which includes popular Mexican brands Modelo, Corona and Pacifico, is the growth engine and by far the most attractive part of the business. And, the profitability of its beer business — operating margins were an impressive 42.6% in the quarter — puts Constellation in a position of strength. Still, raising an anchor is always welcome news, and talk of its booming beer business would, at last, no longer need the wine-and-spirits caveat. Looking ahead, its beer business should continue grabbing market share and its hard to imagine the wine-and-spirits unit getting much worse.

Persons: Bill Newlands, Thursday's, Newlands, Kim Crawford, There's, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Corona, Constellation Brands, LSEG, Modelo, Anheuser, Busch Inbev, Molson Coors, Investors, Constellation, National Football League, Bloomberg, Brier, Modelo Especial, CNBC Locations: Corona, Pacifico, Wednesday's, U.S, Campo, West Coast, San Rafael , California

☆ India has emerged as one of the best global markets for the long haul. Here are the drivers—and how to play the rally
▼ + stars: | 2024-10-02 | by ( Pia Singh | In | ) www.cnbc.com time to read: +7 min

India's recent stock market surge has investors viewing the country as an emerging market poised for long-term outperformance. The India NSE Nifty 50 Index , the country's domestic stock market benchmark, has soared 18.7% this year, hitting record levels. "The data show that, historically, the Indian market has offered robust returns with reduced volatility." Going back to 2015, INDA has seen bigger annual gains and smaller declines than the broader emerging market fund. How to play the Indian market Financials are among investors' favorite spots in India's booming stock market.

Persons: It's, Malcolm Dorson, Dorson, GlobalX, Russell, —, EEM, INDA, Amr Abdel Khalek, Khalek, Jerome Powell, Venugopal Garre, Krishna Mohanraj, You've, Mohanraj Organizations: India NSE, Global, CNBC, U.S, Federal, Fed, Nasdaq, China, MRB Partners, Traders, Barclays, Diamond Hill Capital Management, HDFC Bank, ICICI Bank, Axis Bank, ICICI, HDFC, Whitehaven Coal, Prestige Estates Locations: India, China, Dorson, U.S, Whitehaven

☆ Goldman sees nearly 40% upside for Dell on AI server demand, PC refresh
▼ + stars: | 2024-10-02 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Goldman's forecast implies roughly 37% upside ahead for Dell stock from its $113.16 close on Tuesday. Dell stock has surged more than 51% in 2024. In particular, Ng pointed to Dell's $3.8 billion AI server backlog in the second-quarter as a prime example of robust demand. "Enterprise and sovereign AI opportunities are in earlier stages of adoption, and the company continues to optimize its organization to address AI demand across customer verticals and regions," Ng said. "AI server margins should improve over time through a greater mix of higher margin services revenue and a diversification to a larger number of AI server customers."

Persons: Goldman Sachs, Michael Ng, Ng, Dell, DELL Organizations: Dell Technologies, Dell, Enterprise, Windows Locations: Texas

It also raised its price target to $210 from $187, suggesting shares could rise more than 17% from Tuesday's close. He maintained his $2,400 price target, which implies 16.2% upside potential from Tuesday's close. Bank of America's Lorraine Hutchinson reiterated her buy rating while trimming her price target to $100 from $104. Deutsche Bank analyst Krisztina Katai also maintained her buy rating and inched down her price target by $3 to $92. He also lowered his price target on shares to $40 from $42, implying upside of just 5.2% over the next 12 months.

Persons: Baird, Davidson, Raymond James, Pavel Molchanov, Molchanov, — Hakyung Kim, FANG, Betty Jiang, Jiang, Diamondback, John Pancari, Pancari, Marcelo Santos, Santos, LatAm, Santo, Elliott Hill, Bank of America's Lorraine Hutchinson, Hutchinson, Krisztina Katai, Katai, Matthew Boss, Boss, Baird downgrades Harley, Craig Kennison, Harley, Kennison, Fred Imbert Organizations: CNBC, GE, General Electric, Barclays, Diamondback, Diamondback Energy, Endeavor, Endeavor Energy Resources, Management, T, T Bank, Federal Reserve, ISI, EA, JPMorgan downgrades, JPMorgan, MercadoLibre, Nike, Bank of, Deutsche Bank, Harley Locations: Tuesday's, Bank of America's, Hill

Michael Jordan, NBA Hall of Famer and co-owner of 23XI Racing looks on during the NASCAR Cup Series FireKeepers Casino 400 at Michigan International Speedway on August 18, 2024 in Brooklyn, Michigan. 23XI Racing was founded in 2020 by NBA legend Jordan, driver Denny Hamlin and Jordan's longtime business partner, Curtis Polk. Michael Jordan's NASCAR team, 23XI Racing, and fellow team Front Row Motorsports filed an antitrust lawsuit against NASCAR and CEO Jim France on Wednesday, arguing that they have used anticompetitive practices to prevent fair competition in the sport. Jordan, a longtime racing fan, is the first Black majority owner of a full-time racing team in the NASCAR series since legendary driver Wendell Scott. "Everyone knows that I have always been a fierce competitor, and that will to win is what drives me and the entire 23XI team each and every week out on the track.

Persons: Michael Jordan, 23XI, Jordan, Denny Hamlin, Curtis Polk, Bob Jenkins, Michael Jordan's, Jim France, Tyler Reddick, Jenkins, he's, Jeff Gordon, Wendell Scott Organizations: Hall of Famer, 23XI, NASCAR, Michigan International Speedway, Michael Jordan's NASCAR, Row Motorsports, Deck Toyota, Cook, Darlington Raceway, SC, Fox, NBC, Amazon, Warner Bros, Hendrick Motorsports Locations: Brooklyn , Michigan, France, Darlington, North America

☆ Michael Jordan’s 23XI Racing, alongside Front Row Motorsports, file antitrust lawsuit against NASCAR and its CEO
▼ + stars: | 2024-10-02 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +4 min

In the federal antitrust lawsuit, filed Wednesday and obtained by CNN, the two teams said, “The France family and NASCAR are monopolistic bullies. 23XI Racing's Tyler Reddick (#45) and Front Row Motorsports' Michael McDowell (#34) battle in a NASCAR race. “Today’s action shows I’m willing to fight for a competitive market where everyone wins.”Bob Jenkins, owner of Front Row Motorsports, issued a similar sentiment. “I have been part of this racing community for 20 years and couldn’t be more proud of the Front Row Motorsports team and our success. Meg Oliphant/Getty ImagesThe lawsuit comes after more than two years of negotiations between NASCAR and racing teams.

Persons: Hall of Famer Michael Jordan, Jim France, ”, Denny Hamlin, “, 23XI Racing's Tyler Reddick, Michael McDowell, Jeff Robinson, Jordan, ” Bob Jenkins, ” Jenkins, ” Jordan, Meg Oliphant, Frances, NASCAR “, 23XI Organizations: CNN, NASCAR, Hall of Famer, Motorsports, Associated Press, 23XI, Sunday, Talladega Superspeedway Locations: North America, France, United States, Alabama

☆ Motorsport is trying to reach Net Zero. Could fuels like this, made from air and water, help accelerate the journey?
▼ + stars: | 2024-10-01 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +10 min

“I believe all fuels will be made in this way, and we won’t be using fossil fuels anymore at all. Zero continued its foray into motorsport in April, linking up with 2B Autosport to become the first synthetic fuel partner in rally car racing. Zero PetroleumZero could perhaps seek to emulate P1 Fuels, a synthetic fuel firm that is already an established player in the industry. Porsche announced this year that the Porsche Mobil 1 Supercup – a one-make stock car series – would run exclusively on synthetic fuels produced at the Haru Oni plant. In addition, some experts suggest that electric power, a significantly cheaper alternative to synthetic fuels, would be a much more efficient way of decarbonizing the sport than synthetic fuel.

Persons: BloombergNEF, Haru, ”, Paddy Lowe, “, Lowe, Nigel Mansell, Nico Rosberg, Mika Häkkinen, Lewis Hamilton, Peter J Fox, “ petrolhead, “ I’ve, Damon Hill, Zero, Valtteri Bottas, Zhou Guanyu, Lamborghini Miura, Diehard, Jean Todt, Loredana Sangiuliano Organizations: CNN, Zero Petroleum, diesel, Vehicles, NASCAR, CNN Sport, Hydrogen Insight, McLaren, Mercedes, Constructors, Formula One, Sauber, Autosport, British Royal Air Force, Zero, P1, World, Porsche, Porsche Mobil, Aramco, Former International Automobile Federation, FIA, E Locations: Bicester , England, Southern Chile, Bicester, Saudi

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