DIRS.INFO The most relevant business & tech news

☆ China appoints 'Broker Butcher' Wu Qing as new chairman of securities regulator
▼ + stars: | 2024-02-07 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

BEIJNG, CHINA - NOVEMBER 13: Illuminated skyscrapers stand at the central business district at sunset on November 13, 2023 in Beijing, China. (Photo by Gao Zehong/VCG via Getty Images)China's cabinet on Wednesday appointed markets veteran Wu Qing as chairman of the China Securities Regulatory Commission, state media Xinhua said, replacing Yi Huiman to navigate Beijing through the turbulent waters of a market downturn. Nicknamed the "Broker Butcher" for his crackdown on traders, Wu was previously the acting vice mayor of China's major financial hub Shanghai and served nearly two years as chairman of the Shanghai Stock Exchange. His predecessor Yi took the mantle of the CRSC in 2019, tasked to undertake a spate of sweeping capital markets reforms. Wu's appointment comes on the footsteps of the CSRC over the past two weeks announcing new supportive policies to stabilize and revitalize China's stricken stock market, which has become a casualty of volatility in the property sector and widespread investor pessimism over the outlook for the world's second-largest economy.

Persons: Gao Zehong, Wu Qing, Yi Huiman, Wu, Yi Organizations: Getty, China Securities Regulatory Commission, Xinhua, Shanghai Stock Exchange Locations: BEIJNG, CHINA, Beijing, China, Shanghai

☆ PNG Assures Australia on Security Ties as Leader Marape Arrives on Visit
▼ + stars: | 2024-02-07 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

Australia and the United States have been alarmed by China's security ambitions in the Pacific Islands region since Beijing struck a security and policing deal with Solomon Islands. U.S. Deputy Secretary of State Richard Verma urged PNG to reject a security deal with China, in comments reported by the Sydney Morning Herald on Monday. PNG would not strike a security agreement with China, he said in an interview with the ABC broadcast on Wednesday. China "understand clearly where we stand on security in the region and that is with our close traditional partners, Australia, U.S., New Zealand", he added. Even before the riots, he had pointed to law-and-order concerns and said boosting security would help to attract foreign investment in PNG's burgeoning resources sector.

Persons: James Marape, Marape, Justin Tkachenko, Tkachenko, Richard Verma, Tkatchenko, Penny Wong, Kirsty Needham, Michael Perry Organizations: SYDNEY, Papua New Guinea, Reuters, U.S, Sydney Morning Herald, Australian, ABC Locations: Papua New, Canberra, Australia, China, United States, Beijing, Solomon Islands, Port Moresby, U.S, , New Zealand

☆ Siemens Energy swings to profit on order surge, sale of Indian stake
▼ + stars: | 2024-02-07 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Siemens Energy swung to profit in its first fiscal quarter on the back of a surge in orders and a one-off gain from selling a stake in its Indian affiliate to parent company Siemens . The German renewables firm reported a 1.58 billion euro ($1.7 billion) net profit, driven by the sale of its 18% stake in India's Siemens Limited for 2.1 billion euros. Siemens Energy posted a 23.9% year-on-year increase in orders to 15.4 billion euros, with a book-to-bill ratio of 2.01, pushing its order backlog to a record high of 118 billion euros. Siemens Energy suffered a tough 2023, as problems with manufacturing faults at Siemens Gamesa forced the parent company to a 4.6 billion euro loss for the fiscal year. "We have just shy of 42 billion in backlog in our Siemens Gamesa business — this is also a record order backlog.

Persons: Siemens Gamesa, Maria Ferraro, Ferraro Organizations: Siemens Energy, Siemens, India's Siemens, Siemens Gamesa, CNBC

☆ Ford's turnaround is back on track after the carmaker delivers a much-needed beat and raise
▼ + stars: | 2024-02-06 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

A lot of that credit belongs to Ford Pro, which increasingly looks undervalued by the market for its profit potential. The ongoing capital discipline, leverage to hybrids, profitability of Pro, and potential turnaround in quality control keep us invested in Ford. Revenues over the full year increased 19% and EBIT more than doubled to $7.2 billion, reflecting a margin of 12.4%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Ford CEO Jim Farley speaks at the launch of the all-new electric Ford F-150 Lightning pickup truck at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan.

Persons: Ford, we've, Jim Farley, Jim Cramer's, Jim Cramer, Jim, Bill Pugliano Organizations: Ford Motor, Management, Automotive, LSEG, Ford, UAW, Ford Pro, Blue, Ford Model, Revenues, Bloomberg, CNBC, Ford Rouge Electric Vehicle Center, Getty Locations: EVs, Blue U.S, Dearborn , Michigan, U.S

☆ N.F.L.’s Rapid Embrace of Gambling Creates Mixed Signals
▼ + stars: | 2024-02-04 | by ( Jenny Vrentas | ) www.nytimes.com time to read: +1 min

Over the next week, the National Football League’s players, coaches, fans and executives will gather for an event that was virtually unthinkable just 10 years ago: the Super Bowl in Las Vegas, the gambling capital of the United States. Now it even has a team in Las Vegas, which the league shunned for decades because any affiliation was seen as a threat to the integrity of the game. Yet the embedding of sports gambling so quickly into the culture of the league has resulted in jarring contradictions. is pushing to popularize and benefit from sports betting while still guarding against the potential pitfalls that it long condemned. While the league donates money to promote responsible gambling, its broadcasts are peppered with advertisements for sports betting companies.

Persons: ’, Roger Goodell —, —, ”, Marc Edelman Organizations: National Football, Baruch College Locations: Las Vegas, United States, Nevada, New York

☆ NFL reminds teams they can't bet on sports during Super Bowl week in Las Vegas
▼ + stars: | 2024-02-02 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

"Super Bowl LVIII is a highly anticipated and thrilling event for our fans and viewers. Super Bowl 58 in Vegas is expected to be the most bet on NFL championship ever. Staff must also strictly avoid sportsbooks, even for food or drink, while at the Super Bowl. However, employees of the Chiefs and 49ers won't be allowed to play until the Super Bowl is over. Correction: This story has been updated to reflect NFL gambling suspensions start at one to two years for players.

Persons: Roger Goodell, Goodell, Kayshon Boutte Organizations: National Football League, Super, Vegas . Employees, Kansas City Chiefs, San Francisco 49ers, CNBC, American Gaming Association, NFL, Louisiana State University, Staff, Chiefs, 49ers, CNBC PRO Locations: Las Vegas, Vegas ., Vegas

☆ Tech execs are telling investors they have to spend money to make money on AI
▼ + stars: | 2024-02-02 | by ( Hayden Field | ) www.cnbc.com time to read: +10 min

One theme investors heard repeatedly from top execs is that, when it comes to AI, they have to spend money to make money. Last year marked the beginning of the generative AI boom, as companies raced to embed increasingly sophisticated chatbots and assistants across key products. One key priority area, based on the latest earnings calls, is AI models-as-a-service, or large AI models that clients can use and customize according to their needs. Alphabet executives highlighted Vertex AI, a Google product that offers more than 130 generative AI models for use by developers and enterprise clients such as Samsung and Shutterstock. Alphabet executives touted Google's Duet AI, or "packaged AI agents" for Google Workspace and Google Cloud, designed to boost productivity and complete simple tasks.

Persons: Sundar Pichai, Mandel Ngan, Satya Nadella, Mark Zuckerberg, Josh Edelson, Zuckerberg, Nadella, Amy Hood, Pichai, You've, durably, Ruth Porat, Andy Jassy, Jassy, Tim Cook, Cook, Thos Robinson, Microsoft's, Rufus, Bard Organizations: Artificial Intelligence, AFP, Getty, Microsoft, Apple, Nvidia, Meta, Google, Amazon, New York Times, Samsung, GE, Spotify, Pfizer Locations: Washington ,, Menlo Park , California, LLMs, New York City

☆ Lightbeam.ai helps companies manage AI governance. It just raised $17.8 million with this 16-slide pitch deck.
▼ + stars: | 2024-02-01 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Read previewLightBeam.ai, a data privacy and security startup, has raised $17.8 million in fresh funds. Founded in 2020, the company wants to help businesses adapt their data security in an increasingly AI-powered world. "In the era of generative AI breakthroughs, organizations are empowered to unlock valuable insights from customer data," Prasad told Business Insider. Advertisement"However, this advancement poses the crucial challenge of ensuring secure and compliant handling of customer data within the evolving landscape of AI governance and privacy regulations." The new funding will go towards scaling the San Francisco-based startup's head count having previously focused predominantly on technology investment.

Persons: —, Priyadarshi Prasad, Prasad Organizations: Service, Business, Vertex Ventures, Dropbox Ventures Locations: Francisco

☆ Marcelo Claure and Paul Judge bought SoftBank's diversity fund. Now they're trying to raise $200 million for it.
▼ + stars: | 2024-02-01 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +6 min

Read previewFormer SoftBank executive Marcelo Claure and serial entrepreneur and investor Paul Judge are in the throes of raising a new $200 million fund. The past year has been transitional for the fund since Claure and Judge bought the $100 million fund from SoftBank. Since then, there haven't been any new investments, but the two are poised to capitalize on the success of the first fund and are raising the second Open Opportunity Fund. He said that limited partners' interest has been positive overall since the Open Opportunity Fund's first fund has had so much success. AdvertisementJudge said that he expects the first Open Opportunity Fund to continue to deliver "top quartile" returns to its investors over the next five to seven years.

Persons: —, Marcelo Claure, Paul Judge, It's, Claure, haven't, SoftBank —, I've, Judge, George Floyd's, Masayoshi, Shu Nyatta, Stacy Brown, what's Organizations: Service, Business, Opportunity Fund, Opportunity, Fund, Mastercard, Vista Equity Partners, Ventures, Sprint, Bicycle Capital, TechCrunch Locations: SoftBank, Atlanta, America

☆ BofA says NY Community Bancorp plunge isn't indicative 'of wider problem'
▼ + stars: | 2024-02-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

NYCB took over the failed Signature Bank during the regional bank crisis in 2023. BofA noted that the fourth-quarter results for the big six U.S. banks as well as other large regional banks were "constructive on credit quality." NYCB 5D mountain New York Community Bancorp Secondly, Bank of America said larger banks have strong capital buffers against credit losses. Category IV refers to banking standards for U.S. banks with total assets of $100 billion or more. Jefferies also cited an "unexpectedly faster regulatory mandate" to Category IV bank compliance for NYCB.

Persons: NYCB, BofA, Jon Arfstrom, Jefferies, — CNBC's Michael Bloom Organizations: of America, New York Community Bancorp, Bank, Bank of America, York, Bancorp, Fed, RBC, Equity, NYCB, Jefferies Locations: NYCB

Judge Kevin Newsom, a Trump appointee, pushed back against the Fearless Fund's argument that the grants are protected by the First Amendment because they are charitable donations. He asked the Fearless Fund's attorneys whether the same protection would apply to a contest open only to white applicants. “I think that's a pretty simple yes or no,” Newsom said, interrupting when the attorney for the Fearless Fund, Jason Schwartz, started to reply. They’re saying, no, we want all the pie,” Ben Crump, a civil rights attorney who is also representing the Fearless Fund Fund, said a news conference following the hearing. But since the lawsuit was filed, the Fearless Fund has had trouble securing new investment, said co-founder Arian Simone.

Persons: Donald Trump, Barack Obama —, Fearless, Kevin Newsom, Edward Blum, ” Newsom, Jason Schwartz, Schwartz, ” Schwartz, ” Ben Crump, ”, Morgan Chase, Arian Simone, “, ” Simone, Newsom, ______ Olson Organizations: MIAMI, American Alliance for Equal Rights, Trump, American Alliance, Black, Bank of America, Mastercard, “ Locations: U.S, Black, Miami, America, “, New York

☆ Lending issues are 'slow but there' and starting to 'ripen', says Raging Capital's Bill Martin
▼ + stars: | 2024-01-31 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLending issues are 'slow but there' and starting to 'ripen', says Raging Capital's Bill MartinBill Martin, Raging Capital, joins 'Fast Money' to talk New York Community Bancorp's disaster quarter and stock reaction.

Persons: Bill Martin Bill Martin Organizations: Raging, New York

☆ Super Bowl LVIII teams not permitted to gamble in Las Vegas, NFL emphasizes rules are ‘no different’ to any other game
▼ + stars: | 2024-01-31 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —The NFL has emphasized that the gambling rules for the teams participating in Super Bowl LVIII are “no different” to any other game, despite the showpiece event being held in Las Vegas, Nevada. Players across the league received suspensions of varying degrees in the past year, with the NFL releasing a memo in June stressing the six “key rules” of its gambling policy. A general view of Allegiant Stadium in Las Vegas, the host for Super Bowl LVIII. But in an effort to preserve the “integrity” of the game, players from the two teams will not be able to bet as they will be “on business” as Miller said. “And I think those are the two primary orientations that we’re all working together to accomplish both at the same time.”

Persons: ” Jeff Miller –, –, Miller, Ethan Miller, ” David Highhill, ” Organizations: CNN, NFL, The Kansas City Chiefs, San Francisco 49ers, New England Patriots, Super, Super Bowl Locations: Las Vegas , Nevada, The, Las Vegas

☆ The CEO of FanDuel's owner Flutter explains how its US stock debut could boost its edge over rivals like DraftKings and why it thinks of itself as a media business
▼ + stars: | 2024-01-31 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "It's a great opportunity to bring the world's leading sports betting and gaming business to the world's leading capital market." AdvertisementJackson said he believes the US listing will help the company win media attention and new investors. DraftKings narrowly edged out in August FanDuel's market-share lead in the broader online gambling space that includes casino-style games, per EKG. "FanDuel is undoubtedly a media business," Jackson said.

Persons: —, Peter Jackson, Jackson, Paddy Power, it's, DraftKings, FanDuel, Pat McAfee, Charles Gillespie, Chad Beynon, Beynon Organizations: Service, New York Stock Exchange, Wall, Business, PokerStars, London Stock Exchange, Krejcik, Penn, ESPN Bet, Media, TVG, Gambling.com Group, Macquarie, Wall Street, Rush Street Interactive, Caesars Entertainment, Genius Sports, Research, Jefferies Locations: New York, London, Europe, Sportsbet, Australia, America, Sands

☆ Cultivo wants to scale investment in nature-based carbon projects. It just raised $14 million with this 11-slide pitch deck.
▼ + stars: | 2024-01-30 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Read previewA startup that helps financial institutions and corporations invest in nature regeneration projects has raised $14 million in Series A funding. Carbon credits represent one metric tonne of CO2 removed from the atmosphere, typically bought up by companies looking to reach net zero. Potential investors — financial institutions and corporations — can then choose to back a regeneration project on that land. AdvertisementThe voluntary carbon market, where carbon credits are traded, has become popular in recent years as companies race to reach their climate commitments. It also takes a slice of carbon credits sold by projects it helps to set up.

Persons: —, Mark Carney, Morgan Stanley, Manuel Piñuela, Cultivo, Piñuela, Peña Verde Organizations: Service, Business, Bank of England, Cultivo, MassMutual Ventures, Octopus Energy, Salkantay Ventures, Peña Locations: San Francisco

ATLANTIC CITY, N.J. (AP) — Advertisements for sports betting continue to flood the airwaves, but the NFL said Tuesday that viewers will see only three such ads during the Super Bowl broadcast next month. But sportsbooks have only bought three such ads for broadcast right before and during the Super Bowl broadcast, fewer than the maximum allowed, NFL spokesperson Alex Riethmiller said. Part of that effort includes “being mindful of the tenor, volume and saturation of sports betting advertising and the degree with which we're integrating that into the live game,” Highhill said. The topic of sports betting advertising has been contentious for years. Highhill said the NFL tends to get blamed for sports betting ads that are beyond its reach.

Persons: David Highhill, Alex Riethmiller, We've, Highhill, “, Jeff Miller, ” Highhill, sportsbooks, Bill Miller, ”, we're, Keith Whyte Organizations: CITY, NFL, Super Bowl, ” League, The Kansas City Chiefs, San Francisco 49ers, New Jersey, U.S, Supreme, D.C, American Gaming Association, Fox, Raiders, National Council Locations: N.J, Las Vegas, The, New, Washington

☆ One activist investor is taking on BP, urging the oil giant to scale back green pledges
▼ + stars: | 2024-01-30 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

And on that front, we are not asking BP to renege on its strategy, but to adapt its strategy to the reality." Auchincloss has since been appointed as permanent CEO of the British oil and gas major. In response to the publication of the letter, a spokesperson for BP said the company "welcomes constructive engagement" with its shareholders. We continue to make significant progress, remain focused on delivery, and are confident the strategy will grow the value of bp and deliver sustainable long-term value for shareholders," BP said. Bivona declined to disclose Bluebell's stake in BP, saying that it was below a reporting threshold.

Persons: Giuseppe Bivona, Bivona, CNBC's, Bivone, Marco Taricco, Helge Lund, Murray Auchincloss, Auchincloss Organizations: Capital Partners, BP, Financial, Danone Locations: Bluebell, London

☆ The future of the American amusement park in a Disney, Universal dominated world of thrills
▼ + stars: | 2024-01-27 | by ( Kevin Williams | ) www.cnbc.com time to read: +14 min

Eric Thayer | Bloomberg | Getty ImagesThe theme park business, like many others, is consolidating and changing along with consumer habits. Coney's closing ended an era for Cincinnati-based theme park consultant Dennis Speigel. And there's an underlying rationale for the deal related to what's occurred on the national theme park landscape in recent decades. watch nowA more consistent ride at Cedar Fair Comparatively, Cedar Fair has seen its attendance decline from 22.9 million visitors in the first nine months of 2019 to 20.9 million in 2023. "Disney and Universal have theme parks in several global markets and are considered destination resorts," Baker said.

Persons: Eric Thayer, Knotts, Looney, Richard Zimmerman, Selim Bassoui, Universal, Dennis Speigel, Speigel, Don Helbig, Helbig, Zimmerman, Bassoul, David Katz, Jeffries, It's, Katz, Salim, Berry, Stifel, Carissa Baker, Baker, Dallas restauranteur Shannon Wynne's, Wynne, Wynne's, Angus, Louis, Texans haven't, hadn't, Elizabeth Ringas, Ringas, it's Organizations: Bloomberg, Getty, Disney, Comcast's, Cedar Fair, Flags, Looney Tunes, Marvel, Cedar, Department of Justice, Fair, Dominion, Universal, Google, Dell, Six, Revenue, Cedar Fair Entertainment, Six Flags Entertainment Corp, Getty Images Bloomberg, SIX, University of Central, SeaWorld, Paramount Parks, Premier Parks for Six, Seaworld, Dallas, Texans, American, Enthusiasts, Comcast, CNBC Locations: Valencia , California, Florida, Cincinnati, Coney Island, York, Coney's, Coney, Kings, Virginia, New York, North America, Buena Park , California, Americas, University of Central Florida, Texas, Dallas, Greater Atlanta, St

☆ Berkshire Hathaway is trading at record highs, and UBS thinks it can rise another 15%
▼ + stars: | 2024-01-25 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Berkshire Hathaway shares reached a fresh all-time high to start off a strong 2024, and one analyst thinks the conglomerate's stock is still attractively priced and sees double digit upside. UBS analyst Brian Meredith hiked his 12-month price target for Berkshire's Class B shares to $435 from $410 previously. Secondly, the UBS analyst said Berkshire's array of different businesses remains strong. In insurance, UBS expects profit margins to improve at auto insurer Geico this year, while Berkshire Hathaway Reinsurance Group is expected to see strong growth in premiums and improved profitability. Lastly, UBS noted that Berkshire has historically benefited, on a relative basis, from an economic slowdown.

Persons: Brian Meredith, Warren, Meredith, Buffett Organizations: Berkshire Hathaway, UBS, Berkshire, BRK's Insurance, Insurance, BNSF Railway Co Locations: Berkshire, repurchases, buybacks . Berkshire, U.S, Omaha

The information for the following product(s) has been collected independently by Business Insider: Capital One Venture X Business Card†. The Capital One Venture X Business Card† is available to new applicants. And now you can get those same benefits and more on a version of the card tailored to small business owners: the Capital One Venture X Business Card†. What to know about the Capital One Venture X Business cardWhen Capital One first announced the Capital One Venture X Business Card† in February 2023, it said the card would only be available to customers through a Capital One Relationship Manager. The Capital One Venture X Business Card† has a $395 annual fee.

Persons: you'd Organizations: Business, Venture, American Express, Chase Sapphire, Capital, One, eBay

☆ American consumers haven't been this upbeat about the economy since 2021
▼ + stars: | 2024-01-19 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

The University of Michigan's consumer sentiment gauge surged in January to 78.8, the highest since July 2021. Year-ahead inflation expectations softened to 2.9%, hitting the lowest since December 2020. The University of Michigan's consumer sentiment gauge jumped to 78.8 in January, the highest mark since July 2021. "Encouragingly for the Federal Reserve consumer inflation expectations fell in January, with 1-year inflation expectations falling to a 3-year low in January." Long-run inflation expectations eased to 2.8%, below the 2.9%-3.0% range seen for 26 of the last 30 months, the survey noted.

Persons: —, Sam Millette, Sal Naro, headcount Organizations: of, Service, University of, Commonwealth Financial Network, Federal Reserve, University of Michigan, Commerce Department, Downside, Busines

☆ 'A lot of ifs and leaps of faith': 7 investment chiefs and strategists break down earnings trends in what may be a make-or-break Q4, and 3 sectors to watch
▼ + stars: | 2024-01-19 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

Markets are closely monitoring Q4 earnings results, which began rolling out in mid-January, since they give much-needed clarity on the prior year while setting the tone for the year ahead. AdvertisementWhat to expect during the Q4 earnings seasonEarnings seasons often bring surprises, but there are also bankable bets. But we're going to be driven more by the macro, if we're excluding these mega-cap tech stocks." 3 sectors with boom-or-bust potentialWhile the strategists Business Insider spoke with didn't provide investing recommendations, several shared which sectors they're watching in Q4. Bianco believes the tech sector's earnings will rise over 20% this year.

Persons: —, Matt Stucky, Stucky, David Kelly, UBS Josh Jamner, That's, Jamner, Carol Schleif, Schleif, there's, Anthony Saglimbene, David Bianco, Saglimbene, Bianco, Brad Klapmeyer, Klapmeyer, " Bianco, Ameriprise's Saglimbene, BMO's Schleif, Indrani De, De, she's, he'd, that's Organizations: Service, Business, Northwestern Mutual Wealth Management, Asset Management, UBS, ClearBridge Investments, BMO Family Office, DWS, Macquarie Asset Management, FTSE Russell Locations: Americas

☆ Lawmakers are trying to keep meatpacking giant JBS from trading on NYSE, citing links to deforestation
▼ + stars: | 2024-01-18 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

US and UK lawmakers are rallying against an IPO by the world's largest meatpacker, JBS. Brazil says two-thirds of Amazon deforestation comes from converting land into pastures for livestock. Trading on the world's largest exchange would give JBS access to more capital and enhance its credibility. "The company has made repeated claims that it will eliminate deforestation but has not taken meaningful steps to do so." Two-thirds of Amazon deforestation results from conversion to pasture for livestock, according to the Brazilian government.

Persons: JBS Organizations: Service, Securities and Exchange Commission, New York Stock Exchange, New, U.S, Democrats, Republicans, SEC, NYSE, JBS S.A Locations: Brazil, United States, United Kingdom, New York

☆ Burger King's owner is buying the chain's largest franchisee for $1 billion. It plans to flip 600 restaurants and sell them to 'motivated' operators.
▼ + stars: | 2024-01-16 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

The move comes as Burger King has pushed for remodels of top outlets while closing others. Restaurant Brands International, the parent company of Burger King and Popeyes, announced plans Tuesday to buy more than 1,000 fast-food restaurants from its largest Burger King franchisee. RBI said it plans to invest $500 million in modernizing roughly 600 Burger King restaurants. AdvertisementRBI said the acquisition and flipping of the Burger King restaurants are an "exciting accelerator" to its overall "Reclaim the Flame" plan. Last year, Burger King operators closed dozens of restaurants in Florida, New York, Nebraska, Utah, and Minnesota .

Persons: Burger, —, Popeyes, Tom Curtis, Stephens, Joshua Long, Long, Burger King, Kobza Organizations: Restaurant Brands, Kings, Service, Burger King, Burger King US Locations: Burger, New York, Canada, King, Florida , New York , Nebraska , Utah, Minnesota

☆ Bank of America shares fall after company reports lower fourth-quarter profit, hit by regulatory charge
▼ + stars: | 2024-01-12 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Bank of America shares fell 1.1% Friday after the firm reported declining fourth-quarter earnings amid hefty one-time charges. Here's what the company reported compared to Wall Street expectations, according to LSEG, formerly known as Refinitiv:Earnings per share: 70 cents, adjusted vs. 68 cents expected. 70 cents, adjusted vs. 68 cents expected. Revenue: $22.1 billion vs. $23.74 billion expected. Bank of America stock is down 2.6% this year after a mere 1.7% gain in 2023.

Persons: Brian Moynihan Organizations: of America, Revenue, Bank of America, London, Federal Deposit Insurance Corporation, Valley Bank, Signature Bank, CNBC PRO Locations: Charlotte , North Carolina

Search resuls for: "G Capital"

25 mentions found