Trump moves forward
As widely expected, Donald Trump easily won the New Hampshire Republican primary, defeating Nikki Haley by double digits.
It’s given anti-Trump donors and the broader business community a glimpse of a possible future: The former president would become the Republican nominee, and have a good chance of winning in November.
Haley said she will keep fighting, It was argued last night that “this race is not over yet.” But the former South Carolina governor will head to her home state — she’s skipping the Nevada caucuses on Feb. 8 — trailing Trump badly. voting thereMany of his Palmetto State colleagues have endorsed his opponent.
A growing number of Republicans are now suggesting he should drop out: Texas Senator John Cornyn, a senior GOP lawmaker, said his party “needs to unify around a single candidate.”
Donors may also start lining up. Many of Haley’s supporters are reportedly moving on the move: An unnamed Republican fund-raiser told CNBC’s Brian Schwartz that one of her donors has completed her campaign, announcement to end it,
Meanwhile, Puck’s Teddy Schleifer wrote on social media platform X that casino magnate Steve Wynn and financier John Paulson Attended Trump’s New Hampshire victory party tomorrow night. And South Carolina Senator Tim Scott, who attended the event, told Schlaifer he expected Oracle co-founder Larry EllisonBefore Scott dropped out of the primary race, his biggest supporters also came out to support Trump.
Investors are increasingly struggling with what a Trump victory might mean. Many predict a sharp decline in regulation, particularly in antitrust, and a shift in support from clean energy businesses to fossil-fuel producers.
Holger Schmieding, an economist at Berenberg, said in a note today that a second Trump administration could also include increased government spending and “a lack of fiscal discipline that will be at least as pronounced as currently under President Biden.” ” He concluded, he said, that he would not expect U.S. growth forecasts to change much under a Trump or Biden second term.
What’s going on over here
Semiconductor equipment maker ASML has reported strong earnings. The Dutch company’s shares rose sharply in premarket-trading after it reported fourth-quarter profit. 9 percent increase compared to last year, ASML posted bumper results due to strong demand for chips tied to artificial intelligence applications, but it kept its 2024 sales forecast flat due to new limits on exports to China.
China’s central bank is taking steps to boost lending. The People’s Bank of China said today that it will reducing the reserve requirements of banks, allowing them to provide more loans to homeowners and businesses. It is Beijing’s latest effort to stimulate growth, but some economists say such a move would not be enough to shore up China’s economy.
Loyalty program operator Bilt raises funds at $3.1 billion valuation. The start-up more than doubled its valuation in a new $200 million funding round According to Bloomberg, led by General Catalyst; Former American Express CEO Ken Chenault, who is chairman of the venture capital firm, will join Built’s board. This signals interest in the company, which converts rental payments into points that can be used for rewards.
Winners and Losers of Oscar Nominations. “Oppenheimer” earned the highest gross, while “Barbie” was nominated for “Best Film”, but failed to win nominations for Best Actress or Best Director. Technology companies dominated, with Netflix getting 18 nods, Apple TV+ 13 and Amazon’s MGM five.
Airlines CEO takes on Boeing
Loose bolts, a missing wrench found under floorboardsDelayed Shipments: Airline bosses on both sides of the Atlantic are attacking Boeing for a number of issues as the 737 Max 9 crisis shows no signs of ending any time soon.
The difficult test is becoming heavy. Boeing’s stock has fallen about 13 percent since the Jan. 5 episode in which a door plug was blown out of an Alaska Airlines Max 9 mid-flight.
Dave Calhoun, who became CEO to right the company after the deadly Max crashes in 2018 and 2019, is ready to Meet the trio of senators, including Maria Cantwell, a Washington Democrat and Commerce Committee chairwoman today. Cantwell said last week that she plans to hold a hearing on the Max 9 grounding.
Boeing customers are making their frustrations public:
“I’m angry,” said Alaska Airlines CEO Ben Minicucci. told NBC News After finding “numerous” loose bolts in its Max 9 check. “My demand from Boeing is what are they going to do to improve the quality of their domestic programs.”
Scott Kirby, CEO of United Airlines, told cnbc that “the Max 9 grounding may have been the straw that broke the camel’s back for us.” The company is not sure it will get the Max 10 aircraft — a new aircraft that has not yet been certified — ordered any time soon. “We’re going to have to at least come up with a plan that doesn’t have a Max 10.”
Airline bosses hope the harsh comments will force Boeing to improve quality control and engineering. (Here’s an explanation from The Times about how the door panel might have blown off the Alaska plane.)
But they don’t want to spread panic over aircraft safety amid a sharp surge in bookings last year. And there are not many alternatives to Boeing or Airbus.
Boeing’s troubles will have a long-lasting impact. United CFO Mike Leskinen told analysts the grounding would “hinder growth”.In the coming years, Michael O’Leary, CEO of Ryanair, a low-cost European airline that is one of Boeing’s largest customers, even doubt Max 10 will be delivered soon.
The Rock in the Boardroom
When WWE announced a massive $5 billion deal with Netflix to stream its weekly wrestling show “Raw,” it also revealed a deal that reflects the growing clout of celebrity brands and the enduring power of superagent Ari Emanuel. exposes.
Actor Dwayne Johnson, best known as the Rock, will join the board of WWE’s parent company TKO, which is controlled by Emanuel’s Endeavour. As part of the deal, WWE will also give Johnson the lucrative rights to the Rock trademark.
How will the deal work? Johnson will license its trademark for 10 years, for which it will receive $30 million TKO in stock. “The issue is that it’s his now, and in the future, he’ll be able to keep all the profits by exploiting that mark,” Rutgers Law School professor and intellectual property expert Michael Carrier told DealBook.
This is the latest example of how companies are finding new ways to To compensate stars and athletes Whose power in selling and marketing products, especially through social media, is bypassing traditional advertising. The deal to lure Argentine soccer star Lionel Messi to Inter Miami last year included revenue-sharing agreements with Adidas and Apple.
Emanuel is front and center in how new relationships are developing. Endeavor Talent Agency is the parent company of WME, which has represented Johnson for 13 years. “There’s no CEO like this guy in the world,” Johnson told CNBC As he sat next to Emmanuel. “These game-changing deals that he’s making are a reflection of who he is,” he said.
Does this deal signal Netflix’s future in live sports? Company co-CEO Ted Sarandos dismissed speculation that the deal meant Netflix would delve deeper into traditional sports.
“WWE is sports entertainment,” he said Tuesday. fourth quarter earnings callAfter the company reported bumper results and record customer numbers. “I wouldn’t see this as a sign of any change in our playing strategy.”
The pressure on ESG investing shows no signs of abating, with Exxon Mobil deciding to sue investors who push an environmental agenda.
Conference Board research shows that when it comes to shareholder voting companies are experiencing fatigue around business imperatives that focus on ESG – or environmental, social and governance issues, and regulators are failing to help. After this they are looking to the courts for support. ,
Exxon’s strategy is indicative of this. Three years ago, Engine No. 1, a San Francisco-based hedge fund, forced the energy giant to shake up its board with the goal of getting more action to stop climate change. On Sunday, Exxon accused activist investors Arjun Capital and Follow This of pushing an environmental agenda that the oil major says does little to help the company’s economic performance or create shareholder value.
It is the latest flashpoint between businesses and regulators. If companies want assurances that they will not face enforcement action for excluding offerings, they typically ask the SEC for review. But some say the agency has not done enough to limit the number of resolutions proposed by climate activists at annual meetings.
“Living a lawsuit is a very rare move,” Amy Roy, partner at Ropes & Gray, a law firm specializing in securities litigation, told DealBook, but she said other firms will be watching the case closely.
Meanwhile, climate-related shareholder proposals fell last year, According to, 21 percent compared to 35 percent in 2022 an analysis By the Conference Board. Paul Washington, executive director of the ESG Center at the research organization, told The Times that this reflects the growing unpopularity of the proposals rather than an underlying change in the commitment of institutional investors.
Financier Bill Ackman and his wife, Neri Oxman, have acquired a 5 percent stake in Tel Aviv Stock ExchangeOne of the highest-profile investments in an Israeli business since the Hamas-led attacks on October 7. (Bloomberg)
Figma is reportedly offering buyouts and improving employee pay packages raised its valuation again to $10 billion, half the level achieved in his unsuccessful trip to Adobe. (Forbes)
State lawmakers in Vermont will propose a wealth tax, joining a growing campaign by Democrats to plug the budget shortfall with new taxes on wealthy Americans. (NYT)
SEC set to vote on new investor protection requirements special purpose acquisition vehicleTo make them like IPO (SEC)
best among the rest
In layoff news: SAP Will change jobs or offer buyouts for 8,000 employees; EBAY Said it planned to cut about 1,000 positions; And the Los Angeles Times will cut 115 newsroom jobs, or more than 20 percent of its journalists. (CNBC, The Verge, NYT)
“Pastor accused of cryptocurrency fraud says God told him to do it” (NYT)
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