A FlexJet Gulfstream G450 airplane approaches San Diego International Airport for a landing on May 9, 2025 in San Diego, California.Kevin Carter | Getty Images News | Getty ImagesAn investment group led by LVMH’s private equity arm is buying 20% of private jet company Flexjet, marking the latest push by the luxury industry to expand into travel.L Catterton, the private equity firm backed French luxury giant LVMH, is leading an $800 million investment in Flexjet that will also include brand partnerships and collaborations. The investment group also includes affiliates of KSL Capital Partners and the J Safra Group. Flexjet will…
Author: usaeverydaylife
Invesco could be on the verge of a “game changer,” according to TD Cowen. TD Cowen upgraded the investment management stock to buy from hold and raised its price target to $25 per share from $17.50. The firm’s forecast implies about 26% upside from Friday’s close. Analyst Bill Katz pointed to Invesco’s recent Securities and Exchange Commission filing, which showed the company sought approval to restructure certain aspects of its Invesco QQQ Trust (QQQ) to reflect an open-ended fund as opposed to a unit investment trust (UIT). The QQQ, which tracks the Nasdaq-100 index, is one of the most widely held…
A person walks by a Verizon store on January 23, 2024 in Corte Madera, California. Justin Sullivan | Getty ImagesVerizon raised the lower end of its annual profit forecast on Monday, as strong demand for its higher-tier plans powered better-than-expected earnings in the second quarter.The U.S. telecom major posted a 2.2% rise in wireless service revenue as more users opted for its add-ons such as access to streaming service like Netflix.The carrier has launched price-lock promotions and broadband-wireless bundles to retain users as competition intensifies from AT&T and T-Mobile, as well as aggressive offers from broadband providers Comcast and Charter.However, Verizon…
Elon Musk’s X on Monday denied allegations made by French authorities as part of a criminal investigation into alleged data tampering, adding that it would not submit to the prosecutor’s demand to hand over data.X’s global government affairs account said the French investigation, which ramped up this month, is “politically-motivated” and designed to “restrict free speech.””French authorities have launched a politically-motivated criminal investigation into X over the alleged manipulation of its algorithm and alleged “fraudulent data extraction,” X said in a post on the social media platform. “X categorically denies these allegations.”French prosecutors started an investigation in January over allegations…
President Donald Trump speaks at a dinner for Republican Senators at the White House in Washington, DC, on July 18, 2025.Photo by Allison Robbert/For The Washington Post via Getty ImagesThe U.S. has signaled it will not let up on its Aug. 1 deadline for higher tariffs on the European Union as the bloc fights to strike a deal in time.Over the weekend, U.S. Commerce Secretary Howard Lutnick said he was confident a trade deal could be struck with the European Union, but warned that the deadline for a baseline 30% tariff is fixed.”That’s a hard deadline, so on August 1,…
People walk in front of a J.P. Morgan Financial Center in New York City, U.S., July 16, 2025. Kylie Cooper | Reuters Friday, Aug. 1 — the “hard deadline” of U.S. President Donald Trump’s updated tariffs — is less than two weeks away. Investors, however, seem mostly unbothered thus far. For last week, while the Dow Jones Industrial Average dipped marginally, the S&P 500 and Nasdaq Composite rose 0.6% and 1.5%, respectively.Even a report that Trump wanted a minimum of 15%-20% tariffs on the European Union only dealt a minimal blow to markets, which mostly closed unchanged Friday. Although those…
Peter Specht, general partner at venture capital firm Creandum.CreandumAs pitches from founders come flooding in, one investor has revealed how VCs use a historic “law” to identify the best investments.”The power law in venture capital basically means that a small number of investments generate the vast majority of returns. So essentially, one or two massive winners outweigh all other investments combined,” Peter Specht, general partner at European VC firm Creandum, told CNBC Make It in an interview.He described it as “significant in decision-making for VCs.”The power law originates from the work of late-19th-century Italian economist Vilfredo Pareto. He noticed that…
At least 18 people have died in South Korea as landslides and floods triggered by torrential rains buried homes and swept away people, cars and livestock, the government said on Monday.The death toll was expected to rise as rescuers removed debris and searched rain-swollen streams for nine people who were still missing, according to the country’s disaster management office.Up to 31 inches of torrential rain have poured onto South Korea’s southern and western provinces since last Wednesday.The hardest hit was Sancheong, a county near the central south coast, where 10 people were reported dead and four others were missing. Nearly…
European small-cap stocks have outperformed this year and are poised to continue their winning streak, according to a senior Goldman Sachs strategist. Speaking to CNBC’s “Squawk Box Europe” on Thursday, Sharon Bell said a weak dollar and expectations of an improving regional economy were giving “a little bit of a kicker to small caps.” “So small caps in Europe have outperformed this year, which is very different from the U.S. … [where] it’s the mega caps that have done very well,” she said. “Small caps tend to be more domestic — they tend to be euro earners in Europe, and…
New Ram vehicles sit on a Dodge Chrysler-Jeep Ram dealership’s lot in Miami, Florida.Joe Raedle | Getty ImagesAuto giant Stellantis expects a net loss of 2.3 billion euros ($2.68 billion) in the first half of the year amid pre-tax net charges and early effects of U.S. tariffs, the company said Monday in its preliminary figures.Stellantis, which owns household names including Jeep, Dodge, Fiat, Chrysler and Peugeot, estimated first-half net revenue of 74.3 billion euros, down from 85 billion euros from the same period last year.The preliminary figures come in the absence of financial guidance, which the company suspended on April…
