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Read previewA new California law will force cruise lines to be more transparent about their prices, bolstering a Biden administration crusade against junk fees. Senate Bill 478, also known as the "Honest Pricing Law," will go into effect on July 1. AdvertisementA Carnival Corp. representative told the outlet it would follow guidelines set out by the "Honest Pricing Law." Carnival Corp. is the parent company of brands like Carnival Cruise Line, Princess Cruises, and Holland America. Royal Caribbean cruise ship.
Persons: , Biden, Bill, general's Organizations: Service, Business, Companies, Royal Caribbean International, Norweigan, The Washington, Corp, Carnival, Princess Cruises, Holland America, Royal Caribbean, Celebrity Cruises, Royal, Carnival Corp, Cruise, Federal Trade Commission Locations: California, Royal Caribbean
Winning in China's electric car market is no longer just about having the cheapest price. Despite new U.S. tariffs , the Chinese electric car industry is already moving into a new phase of competition no longer centered on sticker prices alone, many in the industry say. Hong Kong-listed Fuyao, a major supplier of glass for cars, is one of JPMorgan's top picks to take advantage of China's growing electric car market. The Shenzhen-listed Chinese battery giant, Contemporary Amperex Technology , is one of JPMorgan's top Chinese electric car supply chain plays. Last week, Chinese electric car company Nio released a new car in a lower-priced range of just over 200,000 yuan.
Persons: Stephen Dyer, AlixPartners, BYD, Xiaomi, Tesla, Nio, William Li, — CNBC's Michael Bloom Organizations: JPMorgan, Greater, Greater China Business, Amperex, Li Auto, Tesla Locations: Hong Kong, China, Greater China, Asia, Beijing, Shenzhen
Taylor Swift performs onstage during "Taylor Swift | The Eras Tour" at SoFi Stadium on August 09, 2023 in Inglewood, California. At the core of the increasingly common accusation of price gouging is the sense that the consumer is being exploited. Price gouging is in the eye of the bidderGavin Roberts, chair of Weber State University’s economics department and who studies the effect of anti-price gouging laws, said the laws themselves often don’t define what price gouging is. Corporations charging as much as they can, as painful as it may be for consumers, doesn’t mean they’re necessarily price gouging, said Roberts. Steven Suranovic, an economics professor at George Washington University who has also published research on price gouging, sees it differently.
Persons: Emily Miller lucked, Taylor, Miller, Swift, ” Miller, Taylor Swift, Kevin Winter, it’s, , Joe Biden — can’t, we’re, Gavin Roberts, Biden, , Biden hasn’t, ” Biden, Roberts, Steven Suranovic, Martin Shkreli, Shkreli, Price, Trent Sprague, Lyft, Uber, Travis Kalanick, It’s, ” Suranovic, Rafi Mohammed, Stefani Reynolds, Teresa Murray Organizations: New, New York CNN, CNN, Rights, Weber State, Corporations, George Washington University, Turing Pharmaceuticals, LinkedIn, O'Hare International, Chicago Tribune, Tribune, Service, Consumer, Culture, Profit, Getty Locations: New York, Pittsburgh, Cleveland, Inglewood , California, Chicago, New York City, Washington ,, AFP, US
Frontier Airlines said it will stop charging customers a fee to change their flights, taking a page from larger competitors as the Biden administration issues stricter rules targeting so-called "junk fees." Frontier currently charges up to $99 to change flights if the change is made within a week of the trip, according to the airline's website. Larger rivals Delta , American and United scrapped change fees during the Covid-19 pandemic for travelers who were booked in standard economy class and above. "The truth is the big four all have no change fees on the majority of their products, so we were not as desirable," Biffle said. He said change fees were a "top complaint" of travelers.
Persons: Biden, Barry Biffle, Biffle Organizations: Frontier Airlines, CNBC, U.S . Department of Transportation, Frontier, Delta, United, Southwest Airlines
The bill says the FAA Administrator will decide within 60 days whether to mandate minimum seat dimensions on planes for safety reasons. Senate Commerce Committee Chair Maria Cantwell said: "Plane manufacturers will see more safety inspectors on factory floors and tougher safety standards from the FAA." "The bipartisan Federal Aviation Administration reauthorization is a big win for travelers, the aviation workforce, and our economy. It will expand critical protections for air travelers, strengthen safety standards, and support pilots, flight attendants, and air traffic controllers," Biden said in a statement. AdvertisementHe added: "Passengers shouldn't have to jump through endless hoops just to get the refunds that they are owed, and corporations shouldn't rip off hardworking Americans through hidden junk fees."
Persons: , Joe Biden, Maria Cantwell, Biden Organizations: Service, Federal Aviation Administration, National Transportation Safety Board, Business, FAA, Alaska Airlines
In an aerial view, brand new Tesla cars sit parked in a lot at the Tesla Fremont Factory on April 24, 2024 in Fremont, California. Faced with weakening demand for Tesla EVs and increased competition, the company has been slashing headcount since at least January. Previous filings revealed that Tesla would cut more than 6,300 jobs across California, Austin, Texas and Buffalo, New York. The WARN filing shows that to be the case, with many cut from the team at Tesla's Hanover Street location in Palo Alto. Read the latest WARN filing in California here:
Persons: , Elon Musk, Tesla, Musk, Kato, CNBC's David Faber Organizations: Fremont Factory, California Employment Development Department, CNBC, Tesla, Tesla's, American, Twitter Locations: Fremont , California, California, Fremont, Palo Alto, Austin , Texas, Buffalo , New York, Tesla's Hanover, China, robotaxis, U.S
Attorney John Eastman, the architect of a legal strategy aimed at keeping former President Donald Trump in power, gets out of an SUV to talk to reporters after a hearing in Los Angeles, Tuesday, June 20, 2023. The attorney John Eastman pleaded not guilty Friday in the Arizona case charging him and other allies of former President Donald Trump with crimes related to their attempt to undo his 2020 election loss in the state to President Joe Biden. Eastman is the first of 18 defendants in the case to be arraigned in a state courthouse in Phoenix. Arraignments of the other defendants, including former Trump House chief of staff Mark Meadows and former Trump lawyer Rudy Giuliani, are scheduled for the coming weeks. Eastman, Meadows, Giuliani, and more than a dozen other people — including Trump — are separately charged in Georgia state court crimes connected with their efforts there to undo Trump's 2020 defeat.
Persons: John Eastman, Donald Trump, Joe Biden, Eastman, Mark Meadows, Rudy Giuliani Organizations: Trump House, Trump, Eastman Locations: Los Angeles, Arizona, Phoenix, Meadows, Giuliani, Georgia
Even by the rock-bottom standards of the 118th Congress, Thursday night’s three-hour voting session of the House Oversight Committee was perhaps a new low. The members of the Republican-led committee gathered after 8 p.m. in a Capitol Hill hearing room ready for a fight — some members of the audience were even said to have brought alcoholic beverages to enjoy the show. Back in Washington, lawmakers were ostensibly meeting for the most serious and somber of reasons: to debate whether to hold a cabinet official in contempt of Congress. Who better to instigate the chaos than Representative Marjorie Taylor Greene, the right-wing Georgia Republican best known for her penchant for incendiary statements and stunts? Her first target was Representative Jasmine Crockett, the Democrat from Texas who frequently takes on Ms. Greene in the committee.
Persons: Donald J, Trump, Merrick B, Garland —, James Comer of, Marjorie Taylor Greene, Jasmine Crockett, Greene Organizations: 118th, Republican, Republicans, Georgia Republican, Democrat Locations: Manhattan, Washington, James Comer of Kentucky, Texas
According to prosecutors, the scheme began sometime in 2020 and used the stolen identities of about 60 US citizens. According to prosecutors, the scheme saw overseas workers apply for remote jobs at well-known US companies, including Fortune 500 companies. In exchange, prosecutors said in the indictment that Chapman charged the workers monthly fees for her services. In 2016, the US passed the North Korea Sanctions and Policy Enhancement Act, which aimed to improve the enforcement of sanctions against North Korea. The assistant director of the FBI's Counterintelligence Division, Kevin Vorndran, said in the press release that although the allegations may seem like "typical white-collar" crime, they represent a broader trend.
Persons: , Christina Marie Chapman, Chapman, Oleksandr Didenko, Nicole M, Argentieri, Kevin Vorndran Organizations: Service, US, Office, District of Columbia, Business, Fortune, Prosecutors, Social Security Administration, Department's, North Korea Sanctions, North, FBI's Counterintelligence Division Locations: Arizona, North Korea, Valley, American, Ukrainian
The S & P 500 on Wednesday closed above 5,300 for the first time ever. The last time the S & P 500 Short Range Oscillator was this overbought was back in December. The upswing picked up after the S & P 500's most recent bottom on April 19 and pushed to this week's records. .SPX 1Y mountain S & P 500 - 1 year There is no telling whether the current overbought market will follow a similar pattern. Perhaps more telling, four of the bottom six sectors saw earnings estimates revised higher since the end of the first quarter.
Persons: Dow, Morgan Stanley, Stocks, it's, Rather, Jim Cramer's, Jim Cramer, Jim, Victor J Organizations: Federal Reserve, Palo Alto Networks, CNBC, Visitors, New York Stock Exchange, Blue, Bloomberg, Getty
The White House decided to delay by two years tariffs on graphite, a key metal in EV lithium-ion batteries that helps them store energy. But a senior Biden administration official said during a call with reporters that some tariffs would kick in in 2026 to allow battery supply chains to transition. However, those batteries can still source graphite from China until at least 2027 under the Biden administration's policy. Beyond graphite, other tariffs that Biden slapped on China's green tech are mostly symbolic. But steeper taxes on batteries this year could affect US automakers such as Ford and Tesla, which import from China.
Persons: Joe Biden, Gene Berdichevsky, Berdichevsky, Sila, EVs, Biden Organizations: Service, White, Business, US Department of Energy, Mercedes, Benz, Manufacturing, Biden, Environmental Defense Fund Locations: China, Washington ,, Moses Lake , Washington, Southeast Asia
Read previewTesla CEO Elon Musk made the snap decision to fire the entire Supercharger team after its division chief refused to make further layoffs happen, Reuters reported on Wednesday. The billionaire said in an email to staff on April 29 that he was dissolving the entire team behind Tesla's charging infrastructure, per The Information. AdvertisementRepresentatives for Tesla, Musk, and Tinucci didn't respond to Reuters' request for comment. The Tesla chief moved quickly to assuage concerns, and assured investors that Tesla's Supercharger network isn't going anywhere. A slowdown in the rollout of Tesla's charging infrastructure would thus be a setback for Biden's clean-energy agenda.
Persons: , Elon Musk, Musk, Rebecca Tinucci, Tinucci, Tesla's, Tesla, Mercedes Benz, haven't, Aaron Luque, Joe Organizations: Service, Reuters, Bloomberg, Business, Tesla, The, Motors, Ford, Politico, BI
CNBC Daily Open: Wall Street hits record, 'Thee rate cuts'
  + stars: | 2024-05-16 | by ( Abid Ali | ) www.cnbc.com   time to read: +2 min
The Charging Bull is seen on an empty Wall Street on April 20, 2020 in New York City. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street hits record highThe S&P 500 and the Nasdaq rose to record highs after inflation data came in lower than expected. All three major indexes closed at record highs. Asia up, Japan's GDP shrinksAsia-Pacific markets rose on Thursday after Wall Street hit record highs.
Persons: Buffett, Chubb, Warren, Berkshire Hathaway, Seng, Biden, Morgan Stanley Organizations: CNBC, Nasdaq, Dow Jones Industrial, Federal, Tech, Nvidia, Apple, Microsoft, GameStop, AMC, Berkshire, Wall, Nikkei, U.S Locations: New York City, Zurich, Asia, Pacific, China
A man accused of sexually assaulting a Pennsylvania college student in 2013 and then, years later, sending her a message that said “So I raped you” has been arrested in France, the authorities said. The man, Ian Thomas Cleary of Saratoga, Calif., had been sought since 2021, when a warrant for his arrest was issued charging him with sexual assault. Mr. Cleary, 31, was detained last month in Metz, France, according to the prosecutor’s office at the Metz Appeals Court. The prosecutor’s office said that Mr. Cleary had been arrested in connection with a case involving the possession of stolen goods. Mr. Cleary is still in detention, the prosecutor’s office said.
Persons: , Ian Thomas Cleary, Cleary Organizations: Court Locations: France, Saratoga, Calif, Metz, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEVPassport CEO Hooman Shahidi: There's a tremendous opportunity in front of usEVPassport CEO Hooman Shahidi joins CNBC's 'Squawk Box' to discuss how their company is building out the infrastructure for charging EVs, his take on Elon Musk laying off the Tesla Supercharger team, and more.
Persons: Hooman, Hooman Shahidi, EVs Organizations: Elon, Tesla
The company's goal is to add 10,000 bidirectional EV school buses across the U.S. with 300 gigawatt hours of energy available to power grids each year. In effect, instead of the one-way charge into the vehicle, the school buses will be able to send their battery power back to the grid through Zum charging infrastructure. The roughly 500,000 school buses are mostly diesel, contributing to emissions. Ram Ambatipudi, senior vice president of business development at EV Connect, which provides EV charging solutions, said the school bus model is one of the most promising in the area of using EV battery storage in a bidirectional nature. "The low-hanging fruit from what I've seen is the school bus model," Ambatipudi said.
Persons: Ritu Narayan, Ram Ambatipudi, Ambatipudi, It's Organizations: San, San Francisco Unified, Los Angeles Unified, Oakland Unified, EV Connect, Ford Locations: California, San Francisco, Oakland, California , Colorado , Connecticut , Illinois, Maryland , Massachusetts , Missouri , Nebraska , Pennsylvania, Tennessee , Texas, Washington , Utah, Virginia, U.S
But it's no longer just about digital ad dollars, and Amazon's inaugural presence at this year's Upfronts events is the clearest indication that the e-commerce giant is prepared to take on traditional media. Amazon's Prime Video and other streamers would historically be featured at Newfronts, which is digital media's take on Upfronts. This year, they're projected to spend roughly $18.8 billion on traditional TV ads during Upfronts, an increase of 1% from a year earlier, according to eMarketer. 1 question all of you asked was, 'When are you going to show ads on Prime Video?'" He showed how the business has evolved to include digital video ads on Prime Video.
Persons: they're, Cowen, Alan Moss, we've, Reese Witherspoon, Jake Gyllenhaal, Paul Kotas, We've, Kotas, we're, — CNBC's Lillian Rizzo, Alex Sherman Organizations: Meta, Google, Amazon, Disney, Comcast, Netflix, Google's YouTube, Prime, Revenue, National Football League, CNBC Locations: Amazon, U.S
The Biden administration will issue visa restrictions against 250 people and sanctions against three organizations that support the Nicaraguan government, whose authoritarian leader officials say has profited off people trying to reach the United States. The Biden administration will also issue a policy alert to private companies, including airlines, of concerns about irregular immigration patterns and potential human rights abuses stemming from those practices. There is no way to enforce the policy against companies that ignore those abuses. The announcement reflected a growing concern among President Biden and his advisers that a surge of undocumented immigrants into the United States is a growing threat to his re-election campaign. It also showed that the administration has limited options to stem the flow of immigration from troubled countries whose citizens are searching for a better life in the United States.
Persons: Biden, Daniel Ortega Organizations: Nicaraguan Locations: Nicaraguan, United States, Nicaragua
A driverless robotaxi autonomous vehicle developed by Baidu Apollo driving along a street in Beijing. SHANGHAI — Chinese tech company Baidu said Wednesday its Apollo Go robotaxi arm expects to turn profitable next year. The projection comes as Elon Musk has emphasized his plans to build up Tesla's robotaxi efforts amid a decline in revenue. Baidu on Wednesday announced Apollo's 6th generation robotaxi will cost around 200,000 yuan ($28,169) — or less than half that of the prior generation, the company said. Others in the auto industry remain more skeptical about fully driverless cars, which require broad regulatory approval in order to operate.
Persons: Elon Musk, Apollo, Baidu, Brian Gu Organizations: Baidu, Wednesday, China Securities Regulatory Commission, Xpeng Locations: Beijing, SHANGHAI, Wuhan, China
Live Updates: Inflation Expected to Cool Slightly
  + stars: | 2024-05-15 | by ( Ben Casselman | ) www.nytimes.com   time to read: +9 min
Housing Inflation Remains Stubbornly High Economists had expected two measures of rental inflation to fade in 2023 and 2024, but that process is taking time to play out. There are two main measures of inflation in America, the Consumer Price Index and the Personal Consumption Expenditures index. Consumer Price Index Inflation Remains Hotter The Consumer Price Index is climbing faster than the Personal Consumption Expenditures index, in large part because it weights housing more heavily. With housing, Consumer Price Index inflation totaled 3.5 percent in March. But the convergence between new and existing rent inflation is taking a lot longer than expected.
Persons: There’s, “ It’s, , Mark Zandi, Biden, Zandi, grousing, , O.E.R, We’re, would’ve, Mark Franceski, I’ve, Ernie Tedeschi, Tedeschi Organizations: New York Times, Federal Reserve, Index, Housing, Zelman, Associates, White House Council, Economic Advisers Locations: America, bam, Europe
I tested the Flexispot E2 Pro Standing Desk, the best budget option in our guide to the best standing desks, to see if it stood up to these criteria. Flexispot E2 Pro Standing Desk The no-frills Flexispot Standing Desk moves quickly, smoothly, and quietly to reach your desired height. Kelly Burch/InsiderMy first task was to decide which E2 Pro desk I wanted to test. We've reviewed the best standing desks, as well as the best standing desk converters. Kelly Burch/InsiderThe Flexispot E2 Pro is a well-built, stable and easy-to-use standing desk that offers plenty of work space.
Persons: Max, Kelly Burch, I'm, Kelly Burke, We've, I've Organizations: Business, Shop
The first “The Vietage by Anantara” luxury train carriage launched in 2020 – a six-hour journey connecting Da Nang and Quy Nhon. Courtesy Anantara“The main difference is that the new route connecting Nha Trang and Quy Nhon passes through many more coastal areas than the journey between Da Nang and Quy Nhon,” says Jones. For the six-hour journeys between Da Nang and Quy Nhon, passengers are served a pre-ordered three-course gourmet meal. The Quy Nhon-Nha Trang route includes an afternoon tea set. The original route departs from Da Nang Train Station at 8 a.m., arriving at Quy Nhon’s Dieu Tri Station at 2:03 p.m.
Persons: , Kate Jones, , Jones Organizations: CNN, Dieu Tri Train Station Locations: Vietnam, Na Trang, Da Nang, Quy, Nha Trang, Trang, Thevietagetrain.com, Dieu Tri, Quy Nhon, Quy Nhon’s Dieu Tri, Southeast Asia
It looks like Elon Musk realized he needs his Supercharger team after all. The mercurial billionaire axed the entire charging infrastructure team two weeks ago. AdvertisementTesla CEO Elon Musk is re-hiring some of the workers from the Supercharger team he dissolved two weeks ago, Bloomberg reported on Monday. Last month, Musk said in an email to his staff that he was dissolving the team behind Tesla's Supercharger charging-station network, per The Information. Musk has brought back some Supercharger workers, including Tesla's charging director for North America, Max de Zegher, Bloomberg reported, citing people familiar with the matter.
Persons: Elon Musk, , Musk, Max de Zegher Organizations: North, Service, Bloomberg, North America Locations: North America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Tesla may have just killed its most important product — SuperchargersTesla's Supercharging network faces uncertainty following Elon Musk's recent decision to disband the entire Supercharging team. The move coincides with broader restructuring due to falling sales and increased competition, resulting in a 32% drop in the stock price this year. Since the charging network's beginning in 2012, Tesla has built 6,000 stations and 55,000 Superchargers globally. But whether Tesla can maintain its advantage without the team remains to be seen.
Persons: Elon Musk's, Tesla
The future of Tesla Supercharging is uncertain following CEO Elon Musk's disbanding of the Supercharging team as part of a broader restructuring. The roughly 500 layoffs included senior director of EV charging Rebecca Tinucci and Daniel Ho, director of vehicle programs. "I would describe the Supercharger network as one of the crown jewels of Tesla," said Andres Pinter, co-CEO of Bullet EV Charging Solutions. "Instead of doing victory laps and building the Supercharger network and reaping the benefits of this asset, suddenly there's this pause." Musk said in a post that Tesla still plans to grow the Supercharger network, just at a slower pace.
Persons: Elon Musk's, Rebecca Tinucci, Daniel Ho, Tesla, Andres Pinter, It's, Musk, Matt Teske Organizations: EV, Solutions, Bloomberg, Tesla, Ford Motor, General Motors Locations: North America
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