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    E-Trade is debating whether to ban meme stock star Keith Gill from its platform, WSJ reports

    Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images

    E-Trade is having internal discussions about whether to ban Keith Gill — the meme stock trader who just disclosed a big position in GameStop — from the trading platform over concerns regarding potential market manipulation, The Wall Street Journal reported Monday.
    The brokerage, owned by Morgan Stanley, hasn’t reached a decision yet, the Journal said, citing people familiar with deliberations inside the firm.

    GameStop shares shot up early Monday after Gill, who goes by “DeepF——Value” on Reddit, posted a screenshot of what could be his portfolio holding a significant amount of GameStop common shares and call options. The meme stock leader holds 5 million shares of GameStop and a position of 120,000 call options with a strike price of $20 that expire on June 21, purchased for about $5.68 each, the screenshot showed.
    E-Trade declined comment to CNBC, noting “we don’t publicly discuss the individual activity of our clients.”
    Morgan Stanley’s global financial-crimes unit and external counsel began debating if it should cancel Gill’s account as the firm monitored his account activity, the Journal said.
    The brokerage found that in May Gill had bought call options before he posted on social media platform X, the Journal said, adding that some of those contracts expired that week, meaning he likely made a profit.
    The meme stock mania in 2021 led to a series of congressional hearings, including testimony by Gill, around brokers’ practices and gamifying retail stock trading. Gill also faced several class action lawsuits, including one alleging that he pretended to be a novice trader despite being a licensed professional.

    Gill worked as a marketing and financial education employee at MassMutual in 2019 and 2020.
    — Click here to read the WSJ story. More

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    ‘Roaring Kitty’ post seems to show trader held onto giant GameStop stake after Monday’s rally

    Keith Gill still owned 5 million shares of GameStop and 120,000 call options with a strike price of $20 that expire on June 21, according to a screenshot he showed.
    The meme stock leader known as ‘Roaring Kitty’ is behind GameStop’s recent roller-coaster ride.
    E-Trade, the Morgan Stanley-owned brokerage Gill uses, is holding internal talks about whether to ban him from the platform, according to a Wall Street Journal report.

    Keith Gill, known on Reddit under the pseudonym DeepF——-Value and as Roaring Kitty, is seen on a fragment of a youtube video displayed on a smartphone screen in front of GameStop logo.
    Pavlo Gonchar | Lightrocket | Getty Images

    Meme stock leader Keith Gill, who’s behind GameStop’s recent roller-coaster ride, appeared to hold onto his big position in the video game retailer even after Monday’s big rally.
    Gill, whose handle is “DeepF——Value” on Reddit and “Roaring Kitty” on YouTube and X, posted another screenshot of his portfolio showing the same common stock and call option holdings Monday after the stock market closed as those he shared Sunday evening. He still owned 5 million shares of GameStop and 120,000 call options with a strike price of $20 that expire on June 21, the screenshot showed.

    The post on Reddit’s r/SuperStonk forum could not be independently verified by CNBC. 
    Shares of GameStop climbed about 4% in extended trading following his latest Reddit post.

    Arrows pointing outwards

    GameStop closed Monday’s volatile session up 21%, after soaring as much as 70% at one point intraday. The stock was hit by a Wall Street Journal report in afternoon trading saying E-Trade, the Morgan Stanley-owned brokerage Gill uses, is holding internal talks about whether to ban him from the platform over concerns regarding potential market manipulation.
    Gill’s latest post came shortly after the WSJ report. It appeared to show the trader did not sell even as the value of his common stock stake alone jumped to $140 million from $115.7 million in a single day. More

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    5 ways to maximize your vacation days

    Workers tend to leave paid time off, like vacation days, on the table each year.
    Those unused days may not roll over to next year; you may also not get a financial benefit by forgoing them.
    There are ways to take vacation time more efficiently and maximize the quality of the days off, experts said.

    D3sign | Moment | Getty Images

    Americans aren’t good at taking vacation.
    About 62% of workers say having a job with paid time off — for vacations or illness — is “extremely important” to them, more so than benefits like health insurance, a 401(k) plan or paid parental leave, according to a Pew Research Center report from 2023. However, 46% don’t use all the time off made available to them, Pew found.

    “If you never take vacation or have time off, you’re not honoring how humans were created and what we need to stay refreshed,” said Elizabeth Grace Saunders, a time management coach. “We’re biological human beings. We’re not machines.”
    The number of vacation days workers typically get depends on a variety of factors, like company tenure, income and industry.
    More from Personal Finance:Flying is cheaper in 2024. But not for some destinationsWhy skiplagging carries a ‘super big risk’Some vacationers expect to carry summer travel debt
    For example, on average, private sector employers offer 11 vacation days after one year of service; 15 days after five years; 18 days after 10 years; and 20 days after 20 years, according to 2023 data from the U.S. Bureau of Labor Statistics.
    However, 32% of employees say their unused vacation days don’t roll over to the next year, while 28% don’t get paid for unused days, according to a 2022 poll by Qualtrics.

    What’s more, the U.S. is the only developed nation that doesn’t require that workers get paid vacation, according to a 2019 report from the Center for Economic and Policy Research.

    About 21% of Americans who work in the private sector don’t get paid vacation, and 20% do not get paid holidays, according to the BLS.
    Those who work in service jobs, earn lower wages, have part-time or non-union roles or work at smaller companies are much less likely to get them, agency data shows.
    Here’s how you can maximize your vacation time, whether paid or unpaid — both for efficiency and overall quality, according to experts.

    ‘Play a little Tetris’

    Grouping vacation days with other guaranteed time off helps extend your time away without sacrificing additional paid time off, experts said.
    In other words: Take advantage of weekends and paid holidays.
    For example, July 4 this year falls on a Thursday. Taking off just one day (Friday, July 5) would give you a four-day weekend.
    “Play a little Tetris” with your calendar, Saunders said.
    There’s often a trade-off with this approach, however.
    For example, traveling around holidays or flying on weekend days like Friday and Sunday are generally busier and more expensive, said Sally French, a travel expert at NerdWallet.

    Leverage business travel, remote work

    Westend61 | Westend61 | Getty Images

    Workers may be able to bookend business trips with vacation time, French said.
    If your company sends you to a conference in another state for part of the workweek, you might take a vacation day to spend an extra day in your destination city, French explained.
    If coupled with a weekend, workers may not even need to use any paid time off, she said. The company may also cover a portion of the costs like airfare, she added.
    Additionally, those who work remotely or only part time in the office may be able to leverage those arrangements to get away without taking time off, French said. (There’s even a practice especially among younger workers known as “quiet vacationing,” whereby workers work around a dearth of PTO by secretly taking time off.)
    Hotels leaned into this trend during the Covid-19 pandemic, offering amenities like rooms for video calls and co-working spaces free for guests, she said.
    “That trend really has not died off even in 2024,” she said.
    Workers with this flexibility can also more easily take advantage of traveling on cheaper days, like midweek for flights, she added.

    Pace PTO in a ‘measured’ way

    Pacing vacation days throughout the year in a “measured” way helps prevent burnout, Saunders said.
    She recommends taking at least one day off every month — or at least every couple months — even if it’s just a staycation.

    People who don’t take a vacation until “feeling really burnt out” get to a point where they don’t enjoy work and need two or three days of vacation just to feel “normal” again, she said.
    Workers who don’t get many days off (perhaps 10 total, for example) may want to consider taking one longer trip that requires four or five PTO days and bundling their remaining days with paid holidays, Saunders said.

    Boost that ‘refreshed’ feeling

    People may feel more “refreshed” by PTO if they take days off strategically during different periods of busy-ness at work, Saunders said.  
    Taking time off during busy periods feels more “refreshing” than doing so when things are more chill, for example, she said.
    Of course, people may not be able to get away during crunch time or may not have people to whom they can delegate work while they’re away; for such people, taking time off during chiller periods may be more beneficial to avoid work stress while on vacation.
    Likewise, it may help to give yourself an extra day before returning to work — by returning Saturday instead of Sunday, let’s say — to take care of errands like laundry, French said.
    That buffer may give some additional peace of mind, she said.

    Give yourself an ‘acceptable minimum’

    Many people may avoid taking time off due to feelings of guilt.
    For example, 43% of Americans don’t use all their PTO because they feel badly about co-workers taking on extra work, according to Pew Research Center.  
    Additionally, some studies have shown that workers who get “unlimited” PTO tend to take off less time relative to those with a set limit.
    Workers who struggle to take time off should set a personal “acceptable minimum” — for example, ensuring you take off at least 15 days in any given year, Saunders said.  
    And try to fully unplug while on vacation, experts advise.
    Put up your “out of office” message, turn off e-mail notifications and don’t take work calls; if you absolutely must, try to limit work to just one hour a day, Saunders said.

    Don’t miss these exclusives from CNBC PRO More

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    China’s economic model retains a dangerous allure

    Twenty years ago Joshua Cooper Ramo, a consultant, first wrote about the “Beijing consensus”. The Washington consensus of financial liberalisation, floating currencies and openness to foreign capital was, he posited, a damaged brand. China was pioneering its own approach to development based on principles of equality, innovation and a relentless focus on sovereignty and national security. This would appeal to lots of developing countries.In the years since, China’s leaders have mostly denied any ambition to export a state-led model of development. But they are sometimes more brazen. Last year, for instance, Xi Jinping argued in a speech to Communist Party officials that the country’s economic model “breaks the myth that modernisation equals Westernisation”, and that its growth was expanding “choices for developing countries”. Leaders past and present in the developing world—from Pakistan’s Imran Khan and Malaysia’s Mahathir Mohamad to Brazil’s Luiz Inácio Lula da Silva and South Africa’s Cyril Ramaphosa—have expounded the benefits of at least some aspects of the model. And since Mr Cooper Ramo first wrote about the Beijing consensus, the Chinese economy has quadrupled in size in real dollar terms, boosting the country’s diplomatic and military sway. More

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    GameStop shares surge 70% after ‘Roaring Kitty’ trader posts account showing $116 million position

    GameStop rallied again Monday on speculation Keith Gill, who goes by Roaring Kitty on X and YouTube, could have a huge position in the video game retailer.
    Gill, who also goes by DeepF——Value on Reddit, reappeared Sunday night, posting a screenshot of what could be his portfolio holding a significant amount of GameStop common shares and call options.
    The trader holds 5 million shares of GameStop worth $115.7 million as of Friday’s closing price, according to the account snapshot posted on Reddit’s r/SuperStonk forum.

    Dado Ruvic | Reuters

    Meme stock GameStop rallied again Monday on speculation Keith Gill, the man who inspired 2021’s epic short squeeze, could have a huge position in the video game retailer.
    Shares in premarket trading were about 71% higher.

    Gill, who goes by DeepF——Value on Reddit and Roaring Kitty on YouTube and X, reappeared Sunday night, posting a screenshot of what could be his portfolio holding a significant amount of GameStop common shares and call options.
    The Reddit trading crowd’s favorite trader holds 5 million shares of GameStop worth $115.7 million as of Friday’s closing price, according to the account snapshot posted on Reddit’s r/SuperStonk forum. The account also showed a position of 120,000 call options in GameStop with a strike price of $20 that expire on June 21st that were purchased for about $5.68 each. GameStop shares closed Friday at $23.14.
    The post was not independently verified by CNBC. Notably, he didn’t post on the infamous WallStreetBets chatroom where he posted all of his trade updates at the height of the GameStop mania over three years ago, although the username is the same one used.

    Arrows pointing outwards

    Around the same time Sunday night, Gill posted a cryptic picture of a reverse card in the game “Uno” on X.
    Shares of AMC surged 24% in premarket trading Monday. The movie theater chain climbed 48% in May amid the revival of meme stock craze. Reddit’s stock gained 5% Monday.

    Gill’s first return to social media three weeks ago sparked an eye-popping rally in GameStop with shares more than doubling in May alone. At the time, he simply posted a picture of a man in a chair leaning forward, but that was enough to trigger a buying frenzy among amateur traders.
    GameStop took advantage of the May rally by raising more than $900 million in a stock sale.

    Stock chart icon

    GameStop, YTD

    The investor was a former marketer for Massachusetts Mutual Life Insurance. In 2021, through YouTube videos and Reddit posts, Gill encouraged a band of retail traders to squeeze out short selling hedge funds in GameStop.
    The action got so wild at one point that brokerages including Robinhood had to restrict trading in the stock as it blew up their clearinghouse margin. The mania also led to a series of congressional hearings, featuring Gill, around brokers’ practices and gamifying retail trading.
    GameStop is still struggling with a transition to online gaming away from brick-and-mortar video game purchases with investors banking on CEO Ryan Cohen to eventually reinvent the company.
    — CNBC’s Katrina Bishop contributed to this report. More

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    Waste Management to acquire Stericycle in $7.2 billion deal

    Waste Management will acquire Stericycle in a $7.2 billion deal, the companies said Monday.
    WM will acquire all outstanding shares of Stericycle for $62 per share in cash, representing the deal’s total value when including Stericycle’s net debt of around $1.4 billion.
    The deal is expected to close as early as the fourth quarter of 2024.

    An employee cleans his company vehicle at the Waste Management facility on February 12, 2024 in Austin, Texas.
    Brandon Bell | Getty Images

    Waste Management will buy Illinois-based waste-disposal company Stericycle in a deal valued at about $7.2 billion, the companies announced Monday.
    Under the agreement, WM will acquire all outstanding shares of Stericycle for $62 per share in cash. This represents the deal’s total value when including Stericycle’s net debt of around $1.4 billion.

    The per-share price also represents a 24% premium to Stericycle’s 60-day volume-weighted average price as of May 23 — the last trading day before Bloomberg reported that Stericycle was considering a potential sale after receiving takeover interest.
    The companies said the deal was unanimously approved by their boards of directors and is expected to close as early as the fourth quarter of 2024.
    Following the announcement, shares of Stericycle rose more than 16% in premarket trading Monday, while shares of WM fell nearly 2%.
    The announcement comes one day after The Wall Street Journal reported that WM was nearing a deal to buy Stericycle. More

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    Bunq, the $1.8 billion European neobank, hopes to secure license for UK expansion this year

    Bunq, known for its rainbow-colored cards and a focus on so-called “digital nomads,” initially launched in the U.K. in 2019.
    But the Dutch neobank was forced to exit the country in late 2020 in light of Brexit, which meant EU-based banks could no longer use their own country licenses to operate in the U.K.
    “I hope we’ll get somewhere by the end of the year, maybe early next year,” Ali Niknam, Bunq’s CEO and founder, told CNBC at the Viva Tech conference in Paris.

    Dutch digital bank Bunq is plotting re-entry into the U.K. to tap into a “large and underserved” market of some 2.8 million British “digital nomads.”
    Pavlo Gonchar | Sopa Images | Lightrocket | Getty Images

    PARIS — Dutch digital bank Bunq is hoping it will manage to secure a banking license from U.K. financial regulators later this year or early next year, the firm’s CEO and founder Ali Niknam told CNBC.
    “I hope we’ll get somewhere by the end of the year, maybe early next year, because the U.K.’s processes may be slightly different to Europe because it’s a different regulatory area,” Niknam said in an interview last week at the Viva Tech conference in Paris.

    “I don’t know when they’re going to say yes, but so far I have little reason to believe that we won’t be successful.”
    Bunq, known for its rainbow-colored cards and a focus on so-called “digital nomads” not bound by any one country or location, initially launched in the U.K. in 2019. But the bank was forced to exit the country in late 2020 because of Brexit.

    The passage of Brexit into law meant that EU-based financial institutions couldn’t rely on their own country authorizations to operate in the U.K. market. Currently, Bunq only holds a banking license with the Dutch central bank.

    Challenges of reentering UK market

    Now, Bunq is plotting a reentry into the U.K. market. The firm last year submitted an application with the Financial Conduct Authority for an electronic money institution license. It says a U.K. launch would allow it to tap into a “large and underserved” market of some 2.8 million British digital nomads.
    That will prove difficult, though. Rival European fintech Revolut, which is based in Britain and currently has an electronic money institution license, has been trying for some years to secure its U.K. banking license.

    To be sure, a banking license is different from an e-money license. The key difference is that a banking license gives firms permission to offer loans. Monzo and Starling are among the few U.K. consumer fintech platforms that hold their own bank licenses.
    “We’re working as hard as we can, the U.K. regulator has been very responsive, dialogue is ongoing, I don’t know how long it’s going to take, but things seem to be moving,” Niknam told CNBC.
    Founded in 2012 in Amsterdam by Dutch tech entrepreneur Ali Niknam, Bunq has since grown to become one of Europe’s largest neobanks overall, with 12.5 million users across Europe and deposits of 8 billion euros ($8.6 billion). It was last privately valued by investors at 1.65 billion euros.
    Earlier this year, Bunq reported its first full year of profitability, generating 53.1 million euros in net profit in 2023. Bunq is also pursuing expansion in the United States, having previously filed for a U.S. federal bank charter in April 2023. More

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    ‘No quid pro quo’ between Trump and oil execs at Mar-a-Lago, Gov. Burgum says

    North Dakota Gov. Doug Burgum denied that former President Donald Trump told oil executives he’d reduce regulations if elected in exchange for helping him raise money to get re-elected.
    Burgum also denied that Trump was looking to the oil industry in particular to finance his reelection.
    The governor and his family have ties to Continental Resources, which is the largest oil and gas leaseholder in North Dakota.

    Kathryn Burgum aplauds as her husband Republican Governor of North Dakota Doug Burgum shakes hands with former US President and 2024 presidential hopeful Donald Trump during a Caucus Night watch party in Las Vegas, Nevada, on February 8, 2024. 
    Patrick T. Fallon | AFP | Getty Images

    North Dakota Gov. Doug Burgum – a potential pick to be former President Donald Trump’s running mate – is denying claims that the former president had told oil executives he’d reduce regulations if elected in exchange for helping him raise money to return to the White House. 
    According to the Washington Post, Trump told a few of the country’s top oil executives in a meeting with them earlier this year at his Mar-a-Lago club in Palm Beach, Florida, that he’d reverse dozens of environmental rules and policies that the Biden administration has put in place and prevent new ones from being implemented. That is, if they raised $1 billion to re-elect him.

    That donation would make it a “deal” given that they’d avoid taxation and regulation because of him, he said. Trump also reportedly told the executives that he would auction off more oil drilling leases in the Gulf of Mexico.
    “I was at that meeting – that did not happen,” Burgum said on CBS’ “Face the Nation” on Sunday. “He didn’t ask for a billion dollars in donations, and there was no quid pro quo.”
    Burgum also denied that Trump was targeting the oil industry to finance his reelection, saying that “he’s not targeting anybody” and is “doing what candidates do” by going and listening to an industry that is “fundamental to the entire economy.”
    In January, Burgum endorsed Trump for president. He ended his bid to become the Republican nominee a month earlier in December 2023 after launching his campaign in June of that year and has since become an advisor to Trump on energy policy.
    Burgum’s family leases 200 acres of farmland in Williams County, North Dakota, to Continental Resources – the largest oil and gas leaseholder in that state – for oil and gas pumping.

    While his financial disclosure reveals that he’s made up to $50,000 in royalties since late 2022 from the deal with Continental, experts told CNBC that he and his family business have likely made thousands more since they signed a contract with the company in 2009.
    When asked whether his aligning with the energy industry is alienating young voters who say that climate and environmental policy is important to them, Burgum is “not concerned about it at all,” he said.
    Burgum, who’s also a software entrepreneur, announced earlier this year that he won’t be seeking a third term as governor. His second term is set to end on December 14. More