Investments and Business

Republican senators will gather in a private meeting to discuss leadership changes following the impending departure of Senate leader Mitch McConnell. This decision has significant implications for the future direction of the Senate and the party, particularly as Donald Trump regains influence following his election victory. Key figures in the leadership race include South Dakota Senator John Thune, Texas Senator John Cornyn and Florida Senator Rick Scott. Each senator is vying for the support needed to win the upcoming secret ballot election, promising a shift in strategy in an effort to align more closely with Trump's agenda. This leadership election…

A statue of Walt Disney and Mickey Mouse graces the front yard of Cinderella Castle at Magic Kingdom Park, setting the stage for a pivotal moment as Disney prepares to release its fiscal fourth-quarter earnings Thursday. Wall Street's attention will be sharply focused on the performance of Disney's streaming and theme park divisions, as well as updates on the search for CEO Bob Iger's successor. Analysts surveyed by LSEG expect the following key numbers for Disney's next earnings report: Earnings per share: Expected at $1.10 Income: Expected to reach $22.45 billion The profitability of Disney's streaming services has become a…

Penske Entertainment has officially acquired the Grand Prix Association of Long Beach, marking a significant milestone for the IndyCar series. This organization, responsible for the Acura Grand Prix of Long Beach, has been a cornerstone of American motor sport, hosting the longest-running street circuit race in North America. As the event approaches its 50th anniversary, Penske's involvement signals a commitment to substantial investments aimed at improving the future of the race. This acquisition is seen as a strategic move to further embed the NTT INDYCAR SERIES into Southern California's vibrant motorsports culture. Known for its enthusiastic fan base and deep-rooted…

Colorado coach Deion Sanders expressed his commitment to supporting his son, quarterback Shedeur Sanders, and Buffaloes player Travis Hunter as they navigate their path to the NFL Draft next year. During a segment on Fox Sports 1's "Speak," co-host Keyshawn Johnson asked a question about whether Deion would step in if a less-than-ideal team selected Shedeur in the draft. Both Shedeur and Hunter are projected to be first-round selections. According to Dane Brugler's recent rankings, Hunter is currently the top prospect for the NFL Draft, while Shedeur is ranked 23rd, placing him third among quarterbacks behind Miami's Cam Ward and…

On October 3, 2024, the Federal Reserve building in Washington was the backdrop for the latest developments in US economic indicators. This report is part of CNBC's Daily Open, designed to inform investors around the world about major market updates. To stay informed you can sign up to the newsletter. Highlights American inflation trend upwardsIn October, the overall inflation rate in the United States reached 2.6%, in line with market expectations. Core inflation, which excludes food and energy price volatility, remained stable at 3.3%. This overall figure exceeds the Federal Reserve's target, potentially complicating its monetary policy easing plans. Mixed…

US President-elect Donald Trump has announced that Elon Musk and Vivek Ramaswamy will take the helm of the new Department of Government Efficiency. In a statement, Trump expressed confidence in their abilities to help reshape federal operations, aiming to eliminate bureaucratic hurdles, significantly cut unnecessary regulations, reduce wasteful spending and reorganize federal agencies. As Trump prepares for his inauguration on January 20, 2025, he has revealed key appointments for his next Cabinet. Musk, known for his leadership of electric vehicle maker Tesla, social media platform Musk has been a notable supporter of Trump, investing millions in his campaign and often…

As President-elect Donald Trump prepares to take office in January, he is expected to reinstate key elements of his previous economic platform, including tariffs, tax cuts and sanctions. Steven Mnuchin, who served as Treasury Secretary during Trump's first term, discussed these priorities in a recent interview with CNBC. Key components of Trump's economic strategy Tax cutsMnuchin stressed that tax cuts will remain a “distinctive part” of Trump's agenda. He expressed confidence that passing tax reforms in Congress should be easy, especially if Republicans maintain control of the House. RatesThe former Treasury secretary reiterated Trump's commitment to using tariffs as a…

Joel Embiid is set to make his long-awaited return to the Philadelphia 76ers this week, bringing a glimmer of hope to a team that has struggled mightily without him. The two-time scoring champion is expected to start against the New York Knicks as the teams advance to the round-robin round of the NBA Cup, marking his first appearance of the season after a series of setbacks. A turbulent season so far Embiid's journey has been tumultuous — from winning Olympic gold to signing a contract extension to dealing with a knee injury and a three-game suspension for an altercation with…

Former Federal Reserve policymaker Loretta Mester has indicated that the US Federal Reserve may implement fewer interest rate cuts than previously expected next year, particularly if President-elect Donald Trump's proposed global tariffs are implemented. Speaking at UBS's annual European conference in London, Mester stressed that the Fed's monetary policy will be significantly influenced by the fiscal strategies of a future Republican administration. Mester noted that the market's revised expectations for interest rate cuts may actually be correct, suggesting that the number of cuts may be fewer than the four previously expected. “Next year, the pace of cuts will be influenced…

In a recent press conference following a meeting of the Federal Open Market Committee, Federal Reserve Chair Jerome Powell answered a series of questions from reporters asking for his views on newly elected President Donald Trump. While Powell has refrained from engaging in political discussions, it is clear that the economic implications of Trump's presidency are set to have a significant impact on Federal Reserve policies. Powell, appointed by Trump in 2017, has already faced criticism from the former president, who labeled Fed officials “boneheads” and made disparaging comparisons of their performance. During the news conference, Powell sidestepped questions regarding…