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Morgan Stanley drops crypto fund restrictions for wealth clients

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Morgan Stanley's office in Canary Wharf financial district on Jan. 30, 2025 in London, UK.Mike Kemp | In Pictures | Getty ImagesMorgan Stanley on Friday told its financial advisors that the firm was broadening access to crypto investments to all clients and allowing such investments in any type of account, including retirement accounts, CNBC has learned.Starting Oct. 15, advisors will be able to pitch crypto funds to any client. Previously, the option was limited to those with an aggressive risk tolerance and at least $1.5 million in assets who wanted crypto in a taxable brokerage account. The move marks the…

How crypto millionaires spend their fortunes

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A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.The price surge in bitcoin helped created another 70,000 new crypto millionaires over the past year, adding hundreds of billions of dollars in potential spending to the economy, according to new studies.There are now an estimated 241,700 individuals with crypto holdings worth $1 million or more, up 40% from last year, according to Henley & Partners and New World Wealth. There are 450 crypto centimillionaires, or those with crypto…

Delta Air Lines (DAL) Q3 2025 earnings

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Delta Air Lines Flight Museum in Atlanta, Ga.Leslie Josephs/CNBCDelta Air Lines forecast a better-than-expected end to 2025 and a strong start to next year thanks to rising airfares and resilient luxury travel demand.The airline on Thursday projected adjusted earnings of between $1.60 and $1.90 a share for the fourth quarter, compared with the $1.65 per share analysts polled by LSEG were expecting. Revenue in the last three months of the year will grow as much as 4%, Delta said, above the 1.7% Wall Street expects."Looking to 2026, Delta is well positioned to deliver top-line growth, margin expansion and earnings improvement…

Macao becomes more than a gambling destination. Casinos win anyway

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MACAO — If you blindfolded an American tourist and plopped them on the Cotai Strip in Macao, they might take one look at the Venetian hotel and the replica Eiffel Tower and assume they were in Las Vegas.Like Las Vegas, Macao — a special administrative region of China — is transforming itself with fresh entertainment, waterparks, spas, fine dining and sports.This week Las Vegas Sands is hosting two NBA games in Macao, a return for the basketball league after a six-year absence from China. The company's president and chief operating officer, Patrick Dumont, owns the NBA's Dallas Mavericks and was…

Candy maker Ferrero announces Super Bowl ad, World Cup promotions

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Ferrero North America is planning to spend more than $100 million on marketing campaigns tied to the Super Bowl and World Cup next year.The sports push comes as the confectioner's parent company drives further into the United States through acquisitions and investments in domestic production. Ferrero, which was founded in Italy but is now based in Luxembourg, entered North America nearly a half century ago, but the company only really started investing in the market over the past decade.In July, Ferrero bought cereal maker WK Kellogg for $3.1 billion, the latest in a deal spree that included snapping up Nestle's…

Levi Strauss (LEVI) Q3 2025 earnings

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Levi Strauss's profits are growing more than Wall Street expected despite higher costs from tariffs, thanks to targeted price increases and a shift away from wholesalers, the company said Thursday as it reported fiscal third quarter results. During the quarter, Levi's gross margin grew 1.1 percentage points to 61.7%, up from 60.6% in the year-ago period and better than the 60.7% analysts had expected, according to StreetAccount. In an interview with CNBC, CEO Michelle Gass said the company has started to raise the price of some of its jeans and clothes and will hike more prices in the U.S. and other markets…

Delta premium travel set to overtake coach cabin sales next year

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A view from the Delta Sky Club at Los Angeles International Airport, Sept. 2, 2022.AaronP | Bauer-Griffin | GC Images | Getty ImagesDelta Air Lines customers are getting used to first class.Revenue from the pricier, roomier seats toward the front of the plane could eclipse sales from standard coach seats for at least a quarter or two next year, Delta executives said Thursday.In the last quarter, Delta said ticket revenue from its premium cabin rose 9% from last year to nearly $5.8 billion, while main-cabin ticket revenue fell 4% from a year earlier to just over $6 billion.CEO Ed Bastian…

Delta CEO says no impact on airline’s operation

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A Delta Air Lines Airbus A220 airplane prepares to takeoff at Ronald Reagan Washington National Airport in Arlington, Virginia, on July 10, 2025. Saul Loeb | Afp | Getty ImagesDelta Air Lines CEO Ed Bastian told CNBC that the carrier's operation is running smoothly despite the federal government shutdown, but if it goes another 10 days that could change.More than 13,000 U.S. flights were delayed this week, some of them due to shortages of air traffic controllers, raising concerns about strains on the country's aviation industry during the shutdown.Transportation Secretary Sean Duffy warned Monday that the Federal Aviation Administration is seeing a…

PepsiCo (PEP) Q3 2025 earnings

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PepsiCo on Thursday reported quarterly earnings and revenue that beat analysts' expectations, as international growth offset another quarter of declining volume in North America.Shares rose 1% in premarket trading.Here's what the company reported for its fiscal third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: $2.29 adjusted vs. $2.26 expectedRevenue: $23.94 billion vs. $23.83 billion expectedPepsi reported third-quarter net income attributable to the company of $2.6 billion, or $1.90 per share, down from $2.93 billion, or $2.13 per share, a year earlier.Excluding restructuring and impairment charges and other items, the company earned $2.29…

State AGs sue Zillow, Redfin for alleged antitrust violation

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Rafael Henrique | Lightrocket | Getty ImagesAttorneys general from five states sued Zillow and Redfin on Wednesday, alleging the companies schemed to stop competition in the online housing rental market.The lawsuit follows a similar one filed by the Federal Trade Commission on Tuesday.Officials from New York, Arizona, Connecticut, Washington and Virginia jointly filed the lawsuit Wednesday, citing a February deal between the two companies in which Zillow "paid Redfin $100 million to shut down its apartment rental advertising business and transfer its clients to Zillow," New York Attorney General Letitia James' office said in a news release."This agreement is nothing…