Taylor Swift should be president, Ray Dalio says

Taylor Swift should be president, Ray Dalio says

Combination showing Taylor Swift (L) and Ray Dalio. Getty Images (L) | CNBC (R) Hedge fund billionaire Ray Dalio attended Taylor Swift’s Eras Tour in Singapore, and posted a selfie from the packed venue along with a caption explaining why he thought the megastar should be the next president of the United States. “@TaylorSwift for President!” Dalio wrote Thursday on Instagram. “I just saw her at her concert in Singapore and realized that she can bring together Americans and people in most countries much better than either of the candidates, and that bringing people together is the most important thing,”...

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NYCB lost 7% of deposits in past month, slashes dividend to 1 cent

NYCB lost 7% of deposits in past month, slashes dividend to 1 cent

New York Community Bank said Thursday it lost 7% of its deposits in the turbulent month before announcing a $1 billion-plus capital injection from investors led by former Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital. The bank had $77.2 billion in deposits as of March 5, NYCB said in an investor presentation tied to the capital raise. That was down from $83 billion it had as of Feb. 5, the day before Moody’s Investors Service cut the bank’s credit ratings to junk. NYCB also said it’s slashing its quarterly dividend for the second time this year, to 1 cent per...

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Powell reinforces position that the Fed is not ready to start cutting interest rates

Powell reinforces position that the Fed is not ready to start cutting interest rates

Federal Reserve Chair Jerome Powell on Wednesday reiterated that he expects interest rates to start coming down this year, but is not ready yet to say when. In prepared remarks for congressionally mandated appearances on Capitol Hill Wednesday and Thursday, Powell said policymakers remain attentive to the risks that inflation poses and don’t want to ease up too quickly. “In considering any adjustments to the target range for the policy rate, we will carefully assess the incoming data, the evolving outlook, and the balance of risks,” he said. “The Committee does not expect that it will be appropriate to reduce...

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Tesla shares slip 4.5% after suspected arson attack halts production at Berlin Gigafactory

Tesla shares slip 4.5% after suspected arson attack halts production at Berlin Gigafactory

Tesla’ logo is seen on the Tesla factory building in Berlin, Germany on February 22, 2024. In the southeastern outskirts of Berlin, within the Grunheide district, local residents are expressing opposition to the expansion plans of the first automobile factory of US electric car manufacturer, Tesla in Europe.  Anadolu | Anadolu | Getty Images Tesla shares fell Tuesday morning after the carmaker’s gigafactory near Berlin was forced to halt production due to a suspected arson attack at a nearby electricity substation. The facility is likely to be without power for several days and production is not expected to resume this...

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Flying car firm Alef hits 2,850 preorders, worth over $850 million

Flying car firm Alef hits 2,850 preorders, worth over $850 million

BARCELONA, Spain — Alef Aeronautics, a SpaceX-backed flying car firm, says it has reached 2,850 preorders for its futuristic electric vertical takeoff and landing (eVTOL) vehicle. Alef Aeronautics, which is based in San Mateo, California, said preorder numbers recently hit a fresh record after previously reporting 2,500 preorders for its two-seater flying car, the Alef Model A. Customers can access preorders for the Model A online, and to preorder, you have to put down a $150 deposit for the vehicle. Customers can pull the deposit at any time if they want to, so they’re not locked in. Alef is planning to...

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Saudi Arabia and Russia extend voluntary crude oil supply cuts until the end of June

Saudi Arabia and Russia extend voluntary crude oil supply cuts until the end of June

Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman al-Saud gesture upon his arrival at the 8th OPEC International Seminar in Vienna on July 5, 2023 Alex Halada | AFP | Getty Images Heavyweight oil producers Saudi Arabia and Russia will extend their voluntary crude supply cuts until the end of the second quarter. The two countries steer the group of the Organization for the Petroleum Exporting Countries and its allies, known as OPEC+. Saudi Arabia will stretch out its voluntary crude production cut of 1 million barrels per day until the end of the second quarter, the state-owned Saudi...

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OpenAI says Musk claims in lawsuit ‘stem from Elon’s regrets’ he’s out

OpenAI says Musk claims in lawsuit ‘stem from Elon’s regrets’ he’s out

Sam Altman, CEO of OpenAI, at the Hope Global Forums annual meeting in Atlanta on Dec. 11, 2023. Dustin Chambers | Bloomberg | Getty Images OpenAI executives disputed claims Elon Musk laid out in a lawsuit on Thursday, and said the Tesla CEO is upset that he’s no longer part of the artificial intelligence startup. “We believe the claims in this suit may stem from Elon’s regrets about not being involved with the company today,” wrote OpenAI Chief Strategy Officer Jason Kwon in an internal memo on Friday that was viewed by CNBC. “It is deeply disappointing to see Elon...

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WTI tops $80 for first time since November

WTI tops $80 for first time since November

Lone pumpjack located in the middle of large solar array outside of Bakersfield, Kern County, California, USA.  Citizens Of The Planet | UCG | Universal Images Group | Getty Images U.S. crude oil futures topped $80 a barrel for the first time in nearly four months, as signs point to a tightening market ahead of an OPEC+ decision on production cuts. The West Texas Intermediate contract for April gained almost 3% or $2.31 to $80.57 a barrel, while May Brent futures added 2.5% or $2.03 to $83.94 a barrel. U.S. crude and the global benchmark booked a second consecutive monthly...

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Key inflation measure rose 0.4%

Key inflation measure rose 0.4%

Inflation rose in line with expectations in January, according to an important gauge the Federal Reserve uses as it deliberates cutting interest rates. The personal consumption expenditures price index excluding food and energy costs increased 0.4% for the month and 2.8% from a year ago, as expected according to the Dow Jones consensus estimates. The monthly gain was just 0.1% in December and 2.9% from the year prior. Headline PCE, including the volatile food and energy categories, increased 0.3% monthly and 2.4% on a 12-month basis, also as forecast, according to the numbers released Thursday by the Commerce Department’s Bureau...

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EU should discuss using frozen Russian assets to aid Ukraine military: von der Leyen

EU should discuss using frozen Russian assets to aid Ukraine military: von der Leyen

President of the European Commission Ursula von der Leyen is speaking during a joint media conference with Prime Minister of Belgium Alexander De Croo, Italian Prime Minister Giorgia Meloni, Prime Minister of Canada Justin Trudeau, and President of Ukraine Volodymyr Zelensky, following their meeting in Kyiv, Ukraine, on February 24, 2024, amid Russia’s invasion of Ukraine. The European officials and Canada’s Prime Minister are visiting the capital Kyiv on the second anniversary of the start of the Russian full-scale invasion in Ukraine. (Photo by STR/NurPhoto via Getty Images) STR | Nurphoto | Getty Images European leaders should discuss using the...

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