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☆ Millions of student-loan borrowers' payments are being 'wildly' mismanaged by a major servicer — and it might be time to terminate its contract, over 50 Democratic lawmakers say
▼ + stars: | 2024-09-10 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +1 min

A group of Democratic lawmakers requested increased oversight over student-loan company MOHELA. They said that the Education Department should consider ending MOHELA's contract. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt might be time for the Education Department to consider firing a major student-loan company, a group of Democratic lawmakers say. For example, in October last year, the Education Department withheld over $7 million in pay from the servicer over its failure to send on-time billing statements to 2.5 million borrowers.

Persons: MOHELA, —, Sen, Elizabeth Warren, Jim Clyburn, Secretary Miguel Cardona Organizations: Democratic, Education Department, Service, Secretary, Business

☆ Why Nvidia and Its Stock Have Developed a Cult-Like Following
▼ + stars: | 2024-09-09 | by ( Emily Stewart | ) www.businessinsider.com time to read: +13 min

I probably do not have to tell you that Nvidia has really blown up over the past few years. "If people were going to be going crazy about a stock, wouldn't it be this one?" Jack, a moderator of a subreddit dedicated to Nvidia's stock, finds some of the memes around Nvidia irksome. He said ChatGPT's capabilities reinforced his belief in his thesis around Nvidia and AI. I'm not a Nvidia true believer, but I'm apparently Nvidia curious.

Persons: Jensen Huang, Angelo Zino, Jim Cramer, Josh Brown, fanboys, Kamala Harris, I'm, Dan Ives, Huang, Daniel Williams, Williams, David, Goliath, Christopher Schwarz, that's, Axios, Felix Salmon, he's, Jack can't, It's, Berkshire Hathaway, Warren Buffett, Buffett, There's, Schwarz, Brown, Ted Mortonson, Baird, They've, cooly, they're, Mortonson, Ives, Elvis, Zack Morris, Taylor Swift, Chappell Roan, Emily Stewart Organizations: Nvidia, Wall Street, Woodstock, CFRA Research, CNBC, Ritholtz Wealth Management, Elon, NFL, Democratic, People, Wedbush Securities, Lebron, Davids, University of California, Paul Merage School of Business, Nvidia irksome, GameStop, GameStop —, Cisco, Department, Justice, ChatGPT, Business Locations: New York City, New York, Jack, Maine, Omaha , Nebraska, —

☆ Analysis: Is Kamala Harris a good debater? Here’s what we know
▼ + stars: | 2024-09-09 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

Unlike with Biden, Harris won’t have to go back to the 1970s to come up with lines of attack. One speaker at a timeWhile Harris will have plenty to say about Trump, she won’t have the benefit of his interruptions. Prep can fall flatNot all of Harris’ planned takedowns work quite as well as the busing attack on Biden. In another 2019 debate, Harris targeted Sen. Elizabeth Warren on the subject of Warren’s plan to break up tech companies. Lines of attack against HarrisWhich brings us to a third telling Harris debate exchange from 2019.

Persons: Donald Trump, Kamala Harris, – Harris, Harris eviscerated Joe Biden, ” Harris, Biden, Strom Thurmond, John Stennis, “, Harris, unsparing, Trump Harris, Trump, Harris won’t, won’t, ’, Hillary Clinton, Mike Pence, “ Mr, Harris ’, Sen, Elizabeth Warren, Warren, Elon Musk, ” Warren, Tulsi Gabbard, Gabbard, – Organizations: CNN, Democratic, ABC News, Trump, Twitter, Capitol, Elon, White, Rep, Democratic Party, New York Times, Siena Locations: Sens, South Carolina, John Stennis of Mississippi, California, Pennsylvania, Pittsburgh, Harris, Trump, New York

☆ The new Trump trade is bitcoin, price could top $80,000 if he wins election, according to Bernstein
▼ + stars: | 2024-09-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

As November's Election Day draws nearer, so does bitcoin's eventual breakout from this year's narrow trading range, according to Bernstein. "We expect bitcoin to claim back new highs, in case of a Trump win and by Q4, we expect bitcoin to reach close to $80,000-$90,000 range. However, if Harris wins, we expect bitcoin to break the current floor around $50,000 and test the $30,000-$40,000 range, which it was when the bitcoin ETF momentum started in Q4'2023." BTC.CM= YTD mountain Bitcoin year-to-date Standard Chartered has forecast a bitcoin rally to $150,000 if Trump wins. "After last 3 years of regulatory purge, a positive crypto regulatory policy, can spur innovation once again and bring the users back to financial products on the blockchain."

Persons: Bernstein, Donald Trump, Kamala Harris, Gautam Chhugani, Harris, Trump, Gary Gensler, Chhugani, Massachusetts Sen, Elizabeth Warren's, TD Cowen, Joe Biden's Organizations: Trump, Securities, Exchange, Democratic Locations: —, U.S, Q4'2023, Nashville, Massachusetts

☆ Bill Gates thinks retirement 'sounds awful' and wants to continue working for decades like Warren Buffett
▼ + stars: | 2024-09-09 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

He told CNBC his friend Warren Buffett still goes into the office six days per week. Go to newsletter preferences Thanks for signing up! AdvertisementWith untold fortunes and world-shifting accomplishments in his rearview mirror, Bill Gates isn't yearning for a reprieve from the daily grind. Rather, the 68-year-old billionaire philanthropist wants to continue working at the same pace as long as his health holds up. Gates told CNBC that working less "sounds awful," noting that his friend Warren Buffett "still comes into the office six days a week" — and he hopes to follow in Buffett's footsteps.

Persons: Bill Gates, Warren Buffett, Gates, — Organizations: CNBC, Service, Business

☆ Warren Buffett doesn't pay attention to macro factors when investing, and here's why
▼ + stars: | 2024-09-08 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

"It doesn't make any difference what the headlines are, it doesn't make any difference what the Federal Reserve is doing, it doesn't make any difference what's going on in Europe. "If we're right about the business, the macro factors aren't going to make any difference. And if we're wrong about the business, macro factors are not going to bail us out," he said. ... Everybody thinks we sit around and talk about macro factors. We don't have any discussions about macro factors."

Persons: Warren Buffett, it's, Buffett, Benjamin Graham, Lehman Organizations: Federal, Oracle, Berkshire Hathaway's, Federal Reserve, Columbia University, Cuban Missile, New York Times, Lehman Brothers Locations: Omaha, one's, Europe, Berkshire, America

☆ Warren Buffett has donated more than half his fortune to the Gates Foundation and 4 family foundations. Take a closer look.
▼ + stars: | 2024-09-07 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Warren Buffett has donated more than half his wealth to five foundations since 2006. He's gifted Berkshire Hathaway stock to the Gates Foundation and four of his family's foundations. Go to newsletter preferences Thanks for signing up! AdvertisementWarren Buffett has given more than half his vast fortune to five foundations since 2006. The 94-year-old investor is worth $145 billion thanks to a 15% stake in his Berkshire Hathaway conglomerate.

Persons: Warren Buffett, He's, Berkshire Hathaway, Here's, —, Susan, Buffett Organizations: Berkshire, Gates Foundation, Service, Berkshire Hathaway, Business Locations: Berkshire

☆ Top 10 people most likely to reach trillionaire status
▼ + stars: | 2024-09-06 | by ( Robert Frank | ) www.nbcnews.com time to read: +3 min

According to a new report from Informa Connect Academy, which predicts trillionaire status based on average annual growth rate in wealth, Tesla CEO Elon Musk will likely be the first trillionaire. Musk is currently the world’s richest person, with $251 billion, according to the Bloomberg Billionaires Index. The second to reach trillionaire status, according to the report, will be India’s Gautam Adani, founder of the Adani Group conglomerate. If Adani maintains his recent annual growth rate of 123%, the report says he will be a trillionaire in 2028. The report predicts Pangestu could reach trillionaire status by 2028.

Persons: ”, John D, Rockefeller, Berkshire Hathaway, Warren Buffett’s, Elon Musk, Musk, Gautam Adani, Adani, Jensen Huang, Pangestu, Bernard Arnault, Mark Zuckerberg, Jeff Bezos, wouldn’t, Larry Page, Sergey Brin Organizations: “, New York Times, Berkshire, Nvidia, Informa Connect Academy, Bloomberg, Connect, Adani Group, Barito, Meta, Google

☆ This ETF's 2024 gains nearly match the Nasdaq Composite — with less volatility
▼ + stars: | 2024-09-05 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

The Invesco S & P 500 Low Volatility ETF (SPLV) has advanced close to 13% in 2024, while the Nasdaq Composite is up 13.8%. SPLV follows the S & P 500 Low Volatility Index, which is based on 100 stocks within the broad market index with the lowest realized volatility over the past 12 months. SPLV YTD mountain Invesco's S & P 500 Low Volatility ETF (SPLV). On Tuesday, the S & P 500, Nasdaq and Dow Jones Industrial Average posted their worst session since the early-August slide as a batch of weak manufacturing data spurred investors' worries over the economy. Elsewhere, the ‎CBOE Volatility Index has ticked up above 20 since September has started, and it surged over 65 during the early-August rout, which was its highest level since 2020.

Persons: SPLV, Warren Buffett's Berkshire, Morgan Stanley, Charles Schwab Organizations: Nasdaq, Warren Buffett's Berkshire Hathaway, Mobile, Dow Jones Locations: Warren

☆ The Hard-Partying Lawyers Who Get Negligent Companies to Pay Billions
▼ + stars: | 2024-09-05 | by ( Jack Newsham | ) www.businessinsider.com time to read: +23 min

In 2023, mass-tort lawyers spent $152 million on TV ads and millions more on social media. The data provider X Ante estimated that in 2023, mass-tort lawyers spent $152 million on TV ads and millions more on social media. The decades that followed mass torts' onset on the national stage showed the big risks and big rewards of mass torts. AdvertisementIn a class action, a settlement is public, and the judge has to approve the lawyers' fees. But others are confident that indebted mass-tort lawyers can bounce back from a few bad bets.

Persons: Mike Papantonio, Pap, Johnson, Paul Cody, Bayer, Chris Seeger, audibles, Budd, Ness Motley, Motley Rice, South Carolina —, doling, Seeger, Wyeth, Phil Federico, Paul Hanly who'd, Federico, Lejeune, who've, Camp Lejeune, mack, Curt Miner, I've, Don Worley, Worley, —, Daniel A, Mark Lanier, wouldn't, Elizabeth Chamblee Burch, Burch, Ellen Relkin, Merck, Vioxx, There's, Lucian Pera, Keller Postman, Jeremy Troxel, Keller, Troxel, Michael McDonald, Warren Postman, Postman, Kelsey Vlamis, Jack Newsham Organizations: Wynn, Vegas, Camp Lejeune, pharma, Supreme, X, Pfizer, Defense, Marines, Veterans, Foreign, US Marine Corps, Johnson, University of Georgia, Business, Intuit, Rihanna, Morning Investments, Fortress Investment, Gramercy Funds, Deepwater, Investments Locations: Camp, Texas, South Carolina, Baltimore, North Carolina, Camp Lejeune, America, Beverly Hills , California, nonbanks

☆ Stocks making the biggest moves premarket: United States Steel, Unity Software, Boeing and more
▼ + stars: | 2024-09-03 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

United States Steel — The industrial stock plunged 6% after Vice President Kamala Harris opposed the planned sale of United States Steel to Japan's Nippon Steel. She made these statements during a Labor Day rally in front of union members in Pittsburgh, Pennsylvania, where she said that United States Steel was "an historic American company and it is vital for our country to maintain strong American steel companies." NetApp — The data storage stock added 1.6% following an upgrade to buy from hold at Loop Capital. Loop analyst Ananda Baruah listed several catalysts, including NetApp's cloud storage software partnerships and a recent pullback. Bank of America — The bank stock was down fractionally.

Persons: Kamala Harris, Wells, Matthew Akers, Morgan Stanley, Ananda Baruah, Jefferies, Peter Welford, Warren Buffett's Berkshire, Merck's Keytruda, — CNBC's Michelle Fox, Jesse Pound Organizations: United States Steel, Japan's Nippon Steel, Labor, Boeing, Software, Novartis —, Novartis, Bank of America, Warren Buffett's Berkshire Hathaway, Merck, European Commission Locations: Pittsburgh , Pennsylvania, American, Warren

☆ Warren Buffett's Berkshire Hathaway sells more Bank of America, has now cut stake by nearly 15%
▼ + stars: | 2024-08-31 | by ( Alex Crippen | ) www.cnbc.com time to read: 1 min

Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. (This article is from the Warren Buffett Watch newsletter. Warren Buffett has added around $6 billion to Berkshire Hathaway's sizable cash pile this summer with a string of Bank of America stock sales since mid-July. Berkshire has sold Bank of America shares for six straight sessions. Since it began to reduce its holding on July 17, it has sold shares during 21 of the past 33 sessions.

Persons: Warren Buffett Organizations: Berkshire, Warren, Warren Buffett Watch, of America, Bank of America Locations: Omaha , Nebraska, Berkshire

☆ Why Malbon Golf welcomed the ‘sweatergate’ social media firestorm
▼ + stars: | 2024-08-30 | by ( Jack Bantock | ) edition.cnn.com time to read: +15 min

The couple’s lifestyle brand, Malbon Golf, had been swept into a social media storm by an eye-catching Masters outfit donned by ambassador and former world No. Nicolas Malinauskas/Malbon GolfStarsThe duo launched Malbon Golf in 2017, with Stephen’s anthropomorphic ball character “Buckets” taking center stage as the brand’s logo. Ross Kinnaird / Getty Images Tom Holland: Part-time web-slinger, full-time golf swinger -- the "Spider-Man" lead is a self-confessed golf addict. Warren Little / Getty Images Stephen Curry: The three-point king of the NBA is also a highly-proficient par-three shooter. Jamie Squire/Getty ImagesFor Malbon Golf, it is simply the latest step in its aim to “condition” the golf world into accepting new styles in the game.

Persons: Stephen, Erica Malbon, Jason Day, Erica, Frank151, —, ’ ”, “, ’ ” Stephen, Nicolas Malinauskas, it’s, ” Erica, “ We’re, — there’s, ” Stephen, ”, Jimmy Choo, Dre, Vince Sirico, Justin Timberlake, Travis Scott, Q, Justin Bieber, Bieber, …, ’, That’s, ” Adam Sandler, Sandler, Gilmore, Shooter McGavin, Christopher McDonald, Al Messerschmidt, Michael Jordan, Davis, Jordan, Isaac Brekken, JT strutting, Matt Sullivan, Catherine Zeta, Jones, Michael Douglas, Douglas, Ross Kinnaird, Tom Brady, Brady, Aaron Rodgers, Josh Allen, Patrick Mahomes, Carmen Mandato, Orlando Ramirez, Jessica Alba, tross, Xaume Olleros, Niall Horan, There's, Tom Holland, Warren Little, Stephen Curry, Isaiah Vazquez, Celine Dion, René Angélil, Dion, Sam Levi, Miles Teller, Alice Cooper, Cooper, Kathryn Newton, Newton, Ezra Shaw, Sandy Young, Little, Tiger Woods, Oscar Wilde’s, Woods, Jamie Squire, Allen Iverson Organizations: CNN, “ City of Angels, ”, Nike, Prince, NBA, University of North Carolina, PGA, Chicago, NFL, Mission, Getty, Management, BMW PGA, Golden State Warriors, Clarkson Creative, Club, American, Tahoe, LPGA, Ryder, Celtic, Team, April’s, Augusta National Locations: Augusta , Georgia, Los Angeles, New York, “ City, Florida, British, Alba, Hainan, AFP, Irish, Terrebonne , Quebec, American, Celtic Manor, Wales, Augusta

☆ These Asian firms in Buffett's Berkshire Hathaway portfolio have surged, with one soaring 30%
▼ + stars: | 2024-08-29 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Shares of the five trading firms in Warren Buffett-backed Berkshire Hathaway 's portfolio — Itochu Corp , Marubeni Corp , Mitsubishi Corp , Mitsui & Co , and Sumitomo Corp — have surged, with one rising as much 30% in 2024. These five names are also the biggest of Japan's so-called sogo-shosha, or general trading companies, in which Berkshire placed big bets in 2020 and subsequently increased stakes in later years. Japan's trading houses, which trade in a wide range of products and materials, played a big role in Japan's economic growth. Though it holds Japanese and Chinese equities, it mostly invests in American companies, with Apple, American Express, Bank of America Corp. and Coca-Cola Co forming the bulk of its portfolio. Here are the Asian companies which Berkshire has invested in:

Persons: Warren Buffett, Berkshire Hathaway, Buffett Organizations: Berkshire, Itochu, Marubeni Corp, Mitsubishi Corp, Mitsui & Co, Sumitomo Corp —, Apple, American Express, Bank of America Corp Locations: U.S, Omaha , Nebraska, Berkshire

☆ Ulta misses Wall Street expectations first time in 4 years, trims guidance after quarterly sales decline
▼ + stars: | 2024-08-29 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +5 min

An Ulta Beauty store in New York, US, on Monday, Aug. 19, 2024. Ulta Beauty shares sank 7% in extended trading Thursday as the company fell short of second-quarter expectations and trimmed its full-year guidance after a decline in same-store sales during the most recent period. The company now forecasts full-year same-store sales in a range of flat to 2% down, compared with prior guidance of 2% to 3% growth. Earlier this month, Warren Buffet's Berkshire Hathaway disclosed a $266 million stake in the beauty retailer, sending Ulta shares surging. Clarification: This story has been updated to clarify that Ulta Beauty forecast full-year earnings per share of $22.60 to $23.50, down from a previous forecast of $25.20 to $26.

Persons: Dave Kimbell, Kimbell, Paula Oyibo, Ulta, Warren Buffet's Berkshire Hathaway Organizations: LSEG Locations: New York

☆ Hollywood has a big problem with how people are watching TV these days
▼ + stars: | 2024-08-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, viewers are opting for free TV, and that's throwing a massive wrench in Hollywood's plans . AdvertisementBut first, what's on (free) TV? The big storyChanging channelsGetty Images; iStock; Natalie Ammari/BIIf the best things in life truly are free, Hollywood is about to learn a brutal lesson. But what's really caught people's attention over the past year has been "free, ad-supported TV" or FAST services. Figuring out how to make money from free TV is a big enough problem.

Persons: —, Natalie Ammari, upend, Insider's Lucia Moses, what's, Andy Kiersz, Fox's Tubi, Gen Z, that's, Jenny Chang, Rodriguez, cofounders, John Overdeck, David Siegel, Carter Lyons, Scott Hoffman, Warren Buffett's, Berkshire Hathaway, Buffett, Noah Berger, Chelsea Jia Feng, Jensen Huang, Alyssa Powell, Banks, Sam Altman's, Kamala Harris, Tim Walz's, Dana Bash, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Business, Tech, Hollywood, Nielsen, Netflix, Paramount, Pluto, Comcast, Warner Bros . Discovery, YouTube, Getty, Big Tech, Chelsea, Menlo Ventures, CNN Locations: Berkshire, A16z, New York, London

☆ Finland will soon bury nuclear waste in a geological tomb that’s built to last for 100,000 years
▼ + stars: | 2024-08-29 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +7 min

Jonathan Nackstrand | Afp | Getty ImagesFinland is on the cusp of burying spent nuclear fuel in the world's first geological tomb, where it will be stored for 100,000 years. The pioneering project has been hailed as both a watershed moment for the long-term sustainability of nuclear energy and "a model for the entire world." Nuclear energy currently provides about 9% of the world's electricity, according to the World Nuclear Association. Finland is poised to bury spent nuclear fuel in the world's first geological tomb. KBS-3 is based on a multi-barrier principle, where several engineered barriers seek to ensure the long-term safety of the spent nuclear fuel.

Persons: Jonathan Nackstrand, Posiva, Gareth Law, University of Helsinki Tuohimaa, Tuohimaa, Kai Mykkänen Organizations: Afp, Getty, CNBC, videoconference, University of Helsinki, World Nuclear Association, Nordic, KBS, Swedish Nuclear, Waste Management Company, U.S Locations: ONKALO, Eurajoki, Finland, Finnish, Olkiluoto, Helsinki, Europe, Asia, Sweden

☆ How Trump was 'orange-pilled' by three bitcoiners in Puerto Rico and the promise of $100 million
▼ + stars: | 2024-08-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +16 min

Earlier this year, Bailey promised to turn out $100 million and 5 million votes for Trump. Hoyos-López, Bailey's neighbor, had been recently orange-pilled, and was anxious to help out any way she could in getting Trump to Nashville. At the conference, Hoyos-López, Fabiano and Bailey worked to stage a second roundtable with Trump. To Fabiano, Bailey, and Hoyos-López, the stakes couldn't possibly be higher, as Democratic nominee Kamala Harris gains momentum in the polls. Less than a week after leaving Nashville, Fabiano, Hoyos-López and Bailey were back together closer to home to process all that had happened.

Persons: Dolly Parton, Donald Trump, Trump, conferencegoers who'd, Harris, Gary Gensler, CNBC hasn't, Keanu Reeves, Amanda Fabiano, Tracy Hoyos, David Bailey, Bailey, Fabiano, David, I've, Nashville ., Amanda, Hoyos, López, She's, Donald Trump's, Jon Cherry, He'd, Sen, Elizabeth Warren, Michael Saylor, he's, Emily, " Hoyos, Paul Grewal, Cantor Fitzgerald, Howard Lutnick, Rock, Billy Ray Cyrus, bitcoiner Tracy Hoyos, López Trump, Kamala Harris, she's, bitcoiners, Lopez Organizations: Broadway, Music City Center, Republican, Biden, SEC, CNBC, Washington Post, The Washington Post, BTC Inc, Trump, Wall Street, Miners, Lago, Music City, Getty, Riot, Marathon Digital Holdings, Scientific, Solana, Libertarian National Convention, Bitcoin, Mar, Nashville, Bitcoin Conference, Trump White Locations: NASHVILLE, Tenn, —, USA, Nashville, Puerto Rico, Nashville , TN, California, Guaynabo, San Juan, Manhattan, Trump, bitcoin, Egypt, New York, Palm Beach , Florida, Nashville , Tennessee, China, America, San Francisco, López, Japan, Hoyos, U.S, American, Puerto Rican

In 2019, Gates wrote a post titled "Grilling and chilling with Warren." In 2020, Gates wished Buffet a happy 90th birthday. Instead of writing about goofy guys' trips, Gates thanked Buffett for his generous contributions to the Gates Foundation. In 2023, Gates didn't mention Buffett in a single post. And in his 20-plus posts so far in 2024, Gates has only mentioned Buffett once, again focusing solely on philanthropy.

Persons: Gates, Buffett, Bennett Raglin, Warren Organizations: Gates Foundation Locations: Ohama

Though many say they are thankful to have Social Security payments at all, they aren't enough to fill the gap. To help pay the bills, nearly 80% of retirees receive some Social Security income, per BI's calculations, and the Social Security Administration estimates that 97% of older adults will ultimately receive benefits. She told BI that her expected $2,000 monthly Social Security payments may not be enough. As pensions dissipate and only higher-earning retirees have savings, Social Security might only become more pivotal for retirees. Advertisement"I don't want to be rich, I just need to be comfortable," 62-year-old Angela Babin — who lives on her $1,100 monthly Social Security check — told BI.

Persons: —, Emma Echols, she'll, Echols, she's, She's, Xers, Tracey Gronniger, Cheryl Simmons, Franklin D, Roosevelt, they've, Mary Dacus, Stephen, They've, Becky Davenport, Davenport, Donald Trump, Bernie Sanders, Elizabeth Warren, Gronniger, Angela Babin — Organizations: Service, Social Security, Business, Social, Security, Social Security Administration, SNAP, Pew Research Center, Republican, Republicans, allisonkelly Locations: Alabama, San Diego, Spain, Greece, Robinson , Illinois, Florida, Anchorage

☆ Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company
▼ + stars: | 2024-08-23 | by ( Michael Wayland | ) www.nbcnews.com time to read: +8 min

So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. “We’re quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range,” he told CNBC on Thursday. Gjaja’s comments came a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. Gjaja said the decision wasn’t taken lightly, especially the cancellation of the upcoming three-row vehicle, which Ford CEO Jim Farley and other executives had been touting as a game changer for several years. He said the Ford, in part, developed the skunkworks team to prove that Ford can compete against the Chinese automakers.

Persons: Marin Gjaja, We’re, “, Warren Buffett, Gjaja, Jim Farley, ” Farley, Ford, ” BofA’s John Murphy, John Lawler, Lawler, ” Gjaja, ” There’s, we’ve, ” Ford, Thursday, ” Organizations: DETROIT, Ford, CNBC, North America, EV, “, ICE, Wall Street, GM, General Motors Locations: U.S, Europe, North, California, China, ”

Celebrities and Notable Faces in the Crowd at the Democratic ConventionThousands of Democrats — delegates, party members, politicians and celebrities — filled Chicago’s United Center this week to nominate Vice President Kamala Harris and Governor Tim Walz of Minnesota for president and vice president. Doug Emhoff, the second gentleman Maya Harris, Tony West and Meena Harris Vice President Harris’s grand-niece Gov. After several guests highlighted Mr. Walz’s average-Joe persona and background as a football coach, he officially accepted the Democrats’ vice-presidential nomination. Senator Amy Klobuchar of Minnesota helped to introduce Mr. Walz before he took the stage, emphasizing his Midwestern roots. “America, I gave my best to you,” he said, reciting a phrase from the song “American Anthem” by Gene Scheer.

Persons: —, Kamala Harris, Tim Walz, Ms, Harris, Meena, Ella, Doug Emhoff, Maya Harris, Tony West, Meena Harris, Harris’s, Gov, Gus, Hope Octavia Spencer, Rosario Dawson, Padma Lakshmi, Joe, Sheryl Lee Ralph, Bill Clinton, Oprah Winfrey, Amy Klobuchar, Walz, Walz’s, Gwen, Tina Smith, Elizabeth Warren of, Mark Kelly of Arizona, Gabby Giffords, Arizona Julian Castro, Joaquin Castro of, Ilhan Omar, Minnesota Tony Goldwyn, Mark Hamill, J.B . Pritzker, Lil Jon soundtracked, Michelle Obama, Barack Obama, “, ”, Cole, Illinois Lil Jon, Mr, Emhoff’s, Barbara, Michael Cole, Emhoff's, Gretchen Whitmer, Wes Moore, Tony Evers, Andy Beshear, Maxine Waters, California Spike Lee, Wendell Pierce, Sean Astin, Hillary Clinton, Biden, Gene Scheer, Biden’s, ” Nancy Pelosi, Joe ” Organizations: Democratic, Chicago’s, Democrats ’, Joaquin Castro of Texas Rep, J.B, Illinois, Michigan Gov, Maryland Gov, Wisconsin Gov, Kentucky Rep Locations: Minnesota, Elizabeth Warren of Massachusetts, Arizona, Illinois, Kentucky, California, “ America

☆ Sen. Warren on Harris' price gouging plan: Consumers need to know they've got somebody on their side
▼ + stars: | 2024-08-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Warren on Harris' price gouging plan: Consumers need to know they've got somebody on their sideSen. Elizabeth Warren (D-Mass.) joins 'Squawk Box' to discuss night 4 of the Democratic National Convention, Kamala Harris' price gouging proposal, and more.

Persons: Email Sen, Warren, Harris, they've, Sen, Elizabeth Warren, Kamala Harris Organizations: Email, Democratic National Convention

☆ Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company, investors
▼ + stars: | 2024-08-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

In this article F Follow your favorite stocks CREATE FREE ACCOUNTA banner advertises the Ford Mustang Mach-E electric vehicle at a Ford dealership on August 21, 2024 in Glendale, California. So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. "We're quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range," he told CNBC on Thursday. Gjaja's comments come a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. He said the Ford, in part, developed the "skunkworks" team to prove that Ford can compete against the Chinese automakers.

Persons: Mario Tama, Marin Gjaja, Warren Buffett, Gjaja, Jim Farley, Farley, Ford, BofA's John Murphy, John Lawler, Lawler, There's, we've, Michael Wayland Organizations: Ford, Getty, DETROIT, CNBC, North America, EV, Wall Street, GM, General Motors Locations: Glendale , California, U.S, Europe, North, California, China

☆ Berkshire Hathaway's new stock pick Ulta Beauty is a classic value play after a 30% sell-off
▼ + stars: | 2024-08-18 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway recently debuted a new stake in beauty retailer Ulta Beauty , a deep value bet that validated a belief that the stock was significantly oversold. The Omaha-based conglomerate unveiled a $266 million bet on Ulta Beauty in a regulatory filing late Wednesday, prompting the shares to climb 11% the next day. Many view the purchase as a classic value buy after the beauty supply chain's stock suffered a big sell-off this year amid slowing demand and increased competition. ULTA YTD mountain Ulta Beauty shares in 2024. Before Buffett's purchase boosted the stock, Ulta had tumbled 32% in 2024, trading at just 12 times forward earnings, according to FactSet.

Persons: Warren, Berkshire Hathaway, Oppenheimer, Rupesh Parikh, Ulta, it's, Stephanie Link, I've, Ted Weschler, Todd Combs, Buffett, Kraft Heinz Organizations: Hightower Advisors, Berkshire, Kroger Locations: The Omaha

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