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Down icon An icon in the shape of a downward angle. President Joe Biden. Shawn Rayford/Getty Images John Morgan, a major Democratic donor, said Biden had placed “misplaced trust” in his aides.Morgan said Biden needs to get rid of the “cabal” that includes Anita Dunn and Bob Bauer. He joined the camp of Biden supporters who blamed aides for the poor performance of the debate. Democratic megadonor John Morgan has joined the ranks of President Joe Biden’s campaign in blaming his aides for the president’s poor debate performance.In an interview with Politico, Morgan said he believes the president has a…
In May, CoreWeave, a provider of cloud computing services for AI companies, raised $1.1 billion and then took on $7.5 billion in debt at a $19 billion valuation. Scale AI, a data provider for AI companies, raised $1 billion at a $13.8 billion valuation. And Elon Musk-founded xAI raised $6 billion at a $24 billion valuation.Kyle Stanford, a research analyst at PitchBook, said these funding rounds are driving up deal value and deal count across the industry.”It’s not going down any more. The bottom has already fallen out,” he said.In response, some venture capital investors have changed their messaging. Last…
Get your free copy of Editor’s DigestFT editor Roula Khalaf picks her favourite stories in this weekly newsletter.Is McKinsey a partnership? It’s how it thinks about itself, how it governs itself, and how it presents itself to clients and potential recruits. According to Kevin Sneader, who led the management consulting firm from 2018 to 2021, it really is “one of the world’s leading partnerships.”But the meaning of the partnership is coming under scrutiny, both externally because of a lawsuit filed in a New York court and internally as a result of a governance review launched after two tumultuous leadership elections.In…
Denver CNN — A few weeks ago, a group of strangers in a Denver bar sparked conversation and affability, brought together by a shared antipathy toward former President Donald Trump. Many of them are Republicans or former Republicans who are finally able to speak openly about their political views and why they want to stop Trump from returning to the White House in what is expected to be a close election this fall. Becky Hofer said it’s “hard to find community” in her “very Republican” home state of South Dakota. Hofer said she once considered herself a Republican, but the…
John Reid, chief market strategist at the World Gold Council, said gold demand will continue to be driven by emerging markets, particularly China, India and Turkey. “Almost three-quarters of consumer demand for gold over the last decade has come from emerging markets,” Reid said at the Nomura Investment Forum Asia 2024 in Singapore on June 4. That’s a change from previous decades, when two-thirds of gold demand came from Europe, North America and Japan. “Emerging market buyers are taking control of the gold market from Western countries.” According to Reid, the surge in gold, which has reached an all-time high…
TOKYO (AP) — Asian shares were mostly higher on Wednesday after Tesla shares surged more than 10%, helping push major U.S. stock indexes to record highs.Japan’s benchmark Nikkei rose 0.9% to 40,425.27 in morning trading. Australia’s S&P/ASX 200 rose nearly 0.3% to 7,740.00. South Korea’s KOSPI rose nearly 0.1% to 2,782.42. Hong Kong’s Hang Seng Index rose 0.9% to 17,924.43, while the Shanghai Composite Index fell 0.3% to 2,989.51.Asian investors were excited by hopes of a U.S. interest rate cut, but some traders remained on the sidelines ahead of America’s Independence Day on Thursday.”All eyes will be on Japan’s Nikkei…
“All eyes will be on Japan’s Nikkei average, with tech stocks holding firm overnight while the Japanese yen is trading at a 38-year low and could continue to rise above the 40,000 yen mark,” said Yep Jun Rong, market analyst at IG.In currency markets, the U.S. dollar rose to 161.63 yen from 161.43 yen. The euro was little changed to $1.0747 from $1.0749. Among technology stocks in Tokyo, Kyocera rose 2.2% in morning trading, while Murata Manufacturing surged 5.2%.On Wall Street, the S&P 500 rose 0.6% to 5,509.01, beating the all-time high it set two weeks ago. The Dow Jones…
Asian stocks rose on Wednesday after Wall Street set a new record after Federal Reserve Chairman Jerome Powell stoked hopes of an interest rate cut by saying “progress” was being made in the fight against inflation and the job market was cooling.The comments brought fresh optimism that one or even two rate cuts could be delivered by the end of the year, after a string of better-than-expected data prompted central bankers to warn that monetary policy would remain elevated for the time being. But that wasn’t enough to lift the euro against the dollar as traders worried that France’s weekend…
Former President Barack Obama privately told allies who reached out to him that President Biden’s already tough road to reelection had become even tougher after his shaky performance in Thursday’s debate — a harsher assessment than Obama’s public comments about the presidential race.President Obama spoke directly with Biden after last Thursday’s debate and offered to help the embattled vice president as a confidant and personal adviser, according to the people, who spoke on condition of anonymity to discuss the private conversation. It is unclear to what extent President Obama directly addressed Biden’s performance or his path to reelection in the…
LITTLE ROCK, Ark. – Fireworks prices have skyrocketed in recent years, but a Little Rock business is looking to lower prices and offer fireworks that are easier on people’s wallets ahead of the Fourth of July celebrations. According to the American Fireworks Association, the cost of shipping fireworks by ocean has doubled in the past two years, forcing AR fireworks warehouse owners to raise prices. “Last year was a disaster because we price our products purely based on cost,” owner Kaymeron Bitzer said. Fireworks prices rise for second consecutive year His wife, Liana Bitzer, said this year’s numbers are a…