Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in NYC on Sept. 28th, 2023.Adam Jeffery | CNBCBill Ackman’s Pershing Square took a sizable stake in Hertz, the rental-car company that exited from bankruptcy four years ago, sparking a big rally. Shares of Hertz surged 56% on Wednesday after a regulatory filing revealed Pershing Square had built a 4.1% position as of the end of 2024. Pershing has significantly increased the position — to 19.8% — through shares and swaps, becoming Hertz’ second largest shareholder, a person familiar with the matter told CNBC’s Scott Wapner.Stock Chart IconStock…
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Alexandr Wang, CEO of Scale AI, arrives for a meeting with international investors in IA at the Elysee Palace as part of the Artificial Intelligence (AI) Action Summit in Paris, France, Feb. 10, 2025. Gonzalo Fuentes | ReutersScale AI is working with Qatar to develop artificial intelligence tools for education, civil service, contact centers, tourism, health care and transportation in the Middle Eastern nation, according to a list viewed by CNBC.The five-year deal will include creating an AI personalized learning platform and AI teacher assistant for some schools within the country. But the details could change.Scale AI, which provides training data…
The VanEck Gold Miners ETF (GDX) is having another strong session today, continuing its impressive year-to-date move. It’s now up a whopping 52% in 2025. On the long-term monthly chart, GDX has continued to extend from this major bullish inverse head-and-shoulders pattern, which it first broke out from in March. As the chart shows, if GDX continues to hold above the breakout zone near the 44 level, the measured move target near 64 will remain in play. And if that were to happen, this would place GDX within striking distance of its all-time highs from early 2011. As is clear on…
“Fast Money” trader Tim Seymour wants to help investors avoid common money traps that could leave them exposed to losses, particularly in a volatile market.So, he’s out with a shortlist of four tips to deliver some peace of mind when things are going south.Tip No. 1: Don’t have more money in the market than you can stomach.Whether it is margin calls or anxiety about losing money you can’t afford to lose, bad decisions are often made during desperation.Tip No. 2: Don’t hope that you get back to breakeven.If you’re only holding a long position because you don’t want to lose…
FILE PHOTO: The American flag flutters at a Nissan automobile dealership in Irvine, California, U.S., March 27, 2025. Mike Blake | ReutersNissan Motor’s new Americas leader said the automaker is aiming to “max out” production at its largest American production plant amid President Donald Trump’s 25% auto tariffs.Christian Meunier, who started as chairman of Nissan Americas in January, said the tariffs are accelerating already needed plans for the automaker to increase domestic production to assist in a turnaround of its embattled U.S. operations.”We have big facilities, big capacities and today we don’t have max capacity. We still have more room to…
Todd Harper, chairman of the National Credit Union Administration (NCUA), during a House Financial Services Committee hearing in Washington, DC, on Tuesday, May 16, 2023.Nathan Howard | Bloomberg | Getty ImagesThe White House has fired two Democratic board members of the National Credit Union Administration, the officials said on Wednesday, as President Donald Trump expanded efforts to influence independent regulatory agencies.Todd Harper and Tanya Otsuka, who both served on the NCUA’s board, said in separate statements that they had been removed by Trump. The removals leave the agency, which supervises the nation’s $2.3 trillion credit union sector, with just one…
In just 17 days after launch, Temu surpassed Instagram, WhatsApp, Snapchat and Shein on the Apple App Store in the U.S., according to Apptopia data shared with CNBC.Stefani Reynolds | Afp | Getty ImagesChinese online retailer Temu, whose “Shop like a billionaire” marketing campaign made its way to last year’s Super Bowl, has dramatically slashed its online ad spending in the U.S. and seen its ranking in Apple’s App Store plunge following President Donald Trump’s sweeping tariffs on trade partners.Temu, which is owned by Chinese e-commerce giant PDD Holdings, had been on an online advertising blitz in recent years in…
Aerial view of the import and export container terminal of Longtan Port on December 26, 2024 in Nanjing, Jiangsu Province of China.China News Service | China News Service | Getty ImagesU.S. importers are being notified of an increase in canceled sailings by freight ships out of China as ocean carriers try to balance the pullback in orders resulting from President Trump’s tariffs and the escalation of tensions in the trade war.A total of 80 blank, or canceled, sailings out of China have been recorded by freight company HLS Group. It wrote in a recent note to clients that with the…
[The stream is slated to start at 1:30 p.m. ET. Please refresh the page if you do not see a player above at that time.]Federal Reserve Chair Jerome Powell speaks Wednesday afternoon at the Economic Club of Chicago, delivering policy remarks with markets on edge over the effect of President Donald Trump’s tariffs.The appearance will be the last public speech Powell delivers before the central bank’s rate-setting Federal Open Market Committee meets May 6-7. Markets widely expect the FOMC to keep its key overnight borrowing rate unchanged in a range between 4.25% and 4.50%.However, Powell will have the chance to…
Income investors looking for a way to play the boom in artificial intelligence can look to municipal bonds connected to data centers, according to Nuveen. A lot has been made of the need for data centers to provide the infrastructure for AI, and subsequently, the increasing demand to power them. The power consumption by data centers is expected to account for almost half of the demand in electricity growth between now and 2030, a new report from the International Energy Agency found . Public power bond issuance totaled $26.8 billion in 2024, up from an annual average of $14 billion…
