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☆ The US needs immigrants to fill jobs, but can't house them. Nowhere makes this more clear than New York City.
▼ + stars: | 2024-05-08 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

An influx of over 175,000 migrants in New York City has further exposed the city's housing crisis. AdvertisementNo country in the world attracts more immigrants than the US — and no place symbolizes this better than New York City. Pushing migrants out of sheltersNew York City has managed to absorb much larger influxes of immigrants in the past. The New York City comptroller's office says the Adams administration is intentionally making life more difficult for asylum-seekers as a way to force them out of the city. "It is just a system that is meant to really discourage people from getting help from the city and from exercising their rights that they have as residents of New York City."

Persons: Eric Adams, —, It's, it's, aren't, He's, who've, Elon Musk, Selcuk Acar, Susan Pozo, Pozo, Goldman Sachs, Adams, Celeste Hornbach, they've, they're, Sam Stanton, Hornbach Organizations: Service, New, New York City, Getty, Immigrants, Western Michigan University, Goldman Locations: New York City, Southern, New York, York, stoke, New

☆ British TV show host says 'people in the industry' know the identity of the sexual abuser portrayed in Netflix series 'Baby Reindeer'
▼ + stars: | 2024-05-05 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +4 min

The identity of the man who sexually assaulted Richard Gadd is known by "people in the industry." That's according to British TV host Richard Osman, who spoke about "Baby Reindeer" on his podcast. There's been rampant speculation about who inspired the abusive comedy writer named Darrien. In "Baby Reindeer," an established television writer named Darrien O' Connor (Tom Goodman-Hill) grooms and abuses Donny (Richard Gadd). In "Baby Reindeer," an established television writer named Darrien (Tom Goodman-Hill) grooms and abuses Donny (Richard Gadd).

Persons: Richard Gadd, Richard Osman, There's, —, Donny Dunn, Martha, Gadd, Darrien O, Connor, Tom Goodman, Hill, Donny, Marina Hyde, Osman, Darrien, Netflix Osman, hasn't, Tony, Sean Foley, who's, he's, Instagram Foley Organizations: Service, Netflix, Local, Guardian Locations: British, Scottish, Darrien, Edinburgh

☆ Here's how much money you'd have lost if you invested $1,000 in Peloton when it went public
▼ + stars: | 2024-05-03 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

As the company searches for a new CEO, Peloton Chairperson Karen Boone and Peloton Director Chris Bruzzo will serve as interim co-CEOs. How much you'd have if you invested $1,000 in PelotonPeloton has come a long way from when the company was founded in 2012. If you had invested $1,000 in Peloton in 2019, 2021 or 2023, here's how much it would be worth now. CNBC's calculations are based on the company's May 2 closing share price of $3.13. And if you had invested $1,000 in Peloton in 2019 when it first went public, your investment would have decreased by about 89% and be worth about $108 as of May 2.

Persons: it's, Barry McCarthy, John Foley, He'll, Karen Boone, Chris Bruzzo Organizations: Interactive Locations: New York

☆ Peloton's CEO steps down as the company cuts 15% of staff
▼ + stars: | 2024-05-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Peloton CEO Barry McCarthy is stepping down, the fitness company announced on Thursday. After reaching new highs during the pandemic, the company has recalled products, laid off workers, and seen sales and its stock tank. McCarthy replaced John Foley as Peloton CEO and president in February 2022. But since then, the company has recalled products, laid off thousands of workers, and seen sales and its stock tank. It posted a net loss for the quarter of $167.3 million, down from $275.9 million for the same quarter in 2023.

Persons: Barry McCarthy, —, McCarthy, John Foley, Karen Boone, Chris Bruzzo Organizations: Service Locations: Ohio

☆ Peloton CEO Barry McCarthy to step down, company to lay off 15% of staff as it looks to refinance debt
▼ + stars: | 2024-05-02 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +9 min

In a letter to staff, McCarthy said the company needed to implement layoffs because it wouldn't be able to generate sustainable free cash flow with its current cost structure. "Achieving positive [free cash flow] makes Peloton a more attractive borrower, which is important as the company turns its attention to the necessary task of successfully refinancing its debt," McCarthy said in the memo. McCarthy had also expected Peloton to reach positive free cash flow by June — a goal the company said it reached early during its third quarter. In a letter to shareholders, Peloton said it generated $8.6 million in free cash flow but it's unclear how sustainable that number is. The company didn't provide specific guidance on what investors can expect with free cash flow in the quarters ahead but said it does expect to "deliver modest positive free cash flow" in its current quarter.

Persons: Barry McCarthy, McCarthy, Karen Boone, Chris Bruzzo, Jay Hoag, It's, John Foley, hasn't, Goldman Sachs, Boone, Barry, Bruzzo, —, hadn't, Creditsafe, it's, Foley Organizations: Interactive, Allen & Company Sun Valley Conference, Spotify, Netflix, JPMorgan, LSEG, outperformance, CNBC Locations: Sun Valley , Idaho, lockstep

For years, Wisconsin has been one of the most heavily gerrymandered states in the country, with legislative districts that overwhelmingly favored Republicans. In fact, the maps were so one-sided that, even though the state has a roughly equal share of Democrats and Republicans, Republicans were able to lock in large majorities in the State Assembly and Senate. But earlier this year, the state adopted new maps, which have significantly changed the political landscape in the state for Democrats. They are newly optimistic. So after months of hearing about President Biden’s problems motivating the Democratic base, we traveled to the critical battleground state of Wisconsin to ask: Have new maps led to new energy for Democrats, up and down the ballot?

Persons: Biden’s Organizations: Republicans, State Assembly, Senate, Democrats, Democratic Locations: Wisconsin, State

☆ Euro zone inflation steady at 2.4%, keeping June rate cut in play as economy returns to growth
▼ + stars: | 2024-04-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Price rises in the euro area held steady at 2.4% in April, while the economy returned to growth in the first quarter, according to flash figures published Tuesday. Headline inflation of 2.4% was in line with the forecast of economists polled by Reuters. It is the seventh straight month the headline rate has been below 3%, despite a slight rebound in the rate in December due to energy prices. Core inflation, excluding energy, food, alcohol and tobacco, dipped to 2.7% from 2.9% in March. However, Martinez noted the slightly lower-than-expected fall in core inflation and volatility in some areas of services that had increased the inflation rates in France and Italy.

Persons: Price, Gerardo Martinez, Martinez, Jane Foley, Foley Organizations: Reuters, European Central Bank, Gross, ECB, CNBC, BNP, Rabobank Locations: Europe, France, Italy

☆ 'Baby Reindeer' creator and star Richard Gadd wants everyone to stop speculating about the real people in his stalker drama: 'That's not the point'
▼ + stars: | 2024-04-23 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +3 min

Richard Gadd based "Baby Reindeer" on his experience of being stalked and sexually abused. Donny is stalked by an older woman named Martha Scott (played by Jessica Gunning), who is based on Gadd's real stalker. For legal reasons, Gadd hasn't revealed the real identity of his stalker, or the writer Darrien was based on. Gadd told GQ that he purposely concealed the identity of the real Martha within the series. He also told Variety that "due to where things ended in real life," he wasn't concerned about his real stalker attempting to contact him because of the show's popularity.

Persons: Richard Gadd, Gadd, —, Donny Dunn, Donny, Martha Scott, Jessica Gunning, Darrien, Tom Goodman, Hill, Gadd hasn't, hasn't, Sean Foley, That's, Instagram Sean Foley, Foley, Martha, " Gadd, GQ, What's Organizations: Service, Police Locations: British

According to the Biden campaign, the event brought in more than $25 million. That fund-raising haul further tips the scales in the money race between Donald J. Trump and Mr. Biden — a race that, so far, the Democrats have been winning. And when two candidates are as well known as Mr. Biden and Mr. Trump, there might be a limit to what money can buy. This week, we speak with the longtime Democratic donor Robert Wolf about the Radio City fund-raiser and why he has donated to Mr. Biden. And Shane Goldmacher, a national political correspondent for The New York Times, explains the vast financial gap between the candidates.

Persons: Biden, Barack Obama, Bill Clinton, Biden’s, Stephen Colbert, Mindy Kaling, Queen Latifah, Donald J, Trump, Biden —, hasn’t, Robert Wolf, Shane Goldmacher Organizations: Radio City Music Hall, Democratic, Radio City, Mr, The New York Times

Trian claims Disney's board has failed to generate sufficient returns in recent years as subscription streaming losses have mounted and traditional TV subscribers have declined. Early vote countBoth Disney and Trian received support from influential shareholders ahead of Wednesday's meeting. Roughly one-third of Disney's shareholders are retail shareholders, who historically vote in small numbers in annual meetings. The arrangement still raised questions about ValueAct's support for the company and whether Disney's board should have disclosed the prior relationship. WATCH: Disney board battle reaches final moments

Persons: Bob Iger, Mickey Mouse, Valerie Macon, Nelson Peltz, Jay Rasulo, They've, Maria Elena Lagomasino, Michael Froman, Peltz, Ike Perlmutter, Trian, Disney's, Iger, Bob Chapek, Patrick T, Adam Jeffery, Morgan Stanley, James Gorman, CNBC's, George Lucas, Laurene Powell Jobs, Lucas, Powell Jobs, Ken Squire, Rowe Price, Rowe, Mason Morfit's, ValueAct, Neuberger Berman, John Ferguson, Rasulo —, Glass Lewis, Iger's, Gorman, Jeremy Darroch, CNBC's Andrew Ross Sorkin, Heidi Gutman, Lagomasino, shouldn't, Blackwells, Rasulo, Jason Aintabi, John Foley, Jessica Schnell, Craig Hatkoff, Leah Solivan, ValueAct hasn't Organizations: AFP, Getty Images Disney, Voters, Trian Partners, Disney, PepsiCo, Marvel, SEC, Fallon, Bloomberg, Getty, CNBC Disney, CNBC, Star Wars, LucasArts, Pixar, BlackRock, Institutional, California Public Employees, Yacktman Asset Management, Saratoga Proxy, ISS, Sky, Trian Fund Management, NBCU, Bank, NBCUniversal, Green, Comcast Locations: Los Angeles, New York

☆ Louis Gossett Jr., 87, Dies; ‘An Officer and a Gentleman’ and ‘Roots’ Actor
▼ + stars: | 2024-03-29 | by ( Anita Gates | ) www.nytimes.com time to read: 1 min

Louis Gossett Jr., who took home an Academy Award for “An Officer and a Gentleman” and an Emmy for “Roots,” both times playing a mature man who guides a younger one taking on a new role — but in drastically different circumstances — died early Friday in Santa Monica, Calif. Mr. Gossett’s first cousin Neal L. Gossett confirmed the death. Mr. Gossett was 46 when he played Emil Foley, the Marine drill instructor from hell who ultimately shapes the humanity of an emotionally damaged young Naval aviation recruit (Richard Gere) — in “An Officer and a Gentleman” (1982). Reviewing the movie in The New York Times, Vincent Canby described Sergeant Foley as a cruel taskmaster “recycled as a man of recognizable cunning, dedication and humor” revealed in “the kind of performance that wins awards.”

Persons: Louis Gossett Jr, ”, —, Gossett’s, Neal L, Gossett, Emil Foley, Richard Gere, Vincent Canby, Sergeant Foley Organizations: Naval, New York Times Locations: Santa Monica, Calif, “

The people who don’t vote are often left out of the political conversation. Campaigns don’t spend much money on them, and the media doesn’t devote much coverage to them. But to understand a presidential contest like the 2024 race — one that threatens to be extremely close — we have to understand not just the people who show up to vote, but also those who sit out elections.

Organizations: don’t

☆ Jim Cramer shares his thoughts on Mastercard, Visa, Reddit, McCormick, Hershey and UPS
▼ + stars: | 2024-03-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +1 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Mastercard , Visa : The companies reached a settlement with merchants over swipe fees. "I think that Mastercard and Visa are both terrific stocks and this only makes them better." Reddit : Shares of the social media firm continue to rally since their initial public offering last week. McCormick : Shares surged nearly 10% after the spice maker delivered better-than-expected quarterly results and offered an upbeat guidance.

Persons: Jim Cramer's, They've, Jim Cramer, McCormick, Cramer, Brendan Foley Organizations: CNBC, Club, Mastercard, Visa, Hershey, BNP, United Parcel Service Locations: McCormick

There's also Kimberlyn, a Black on-air reporter at a conservative cable news outlet, played by Christina Elmore. Chozick also suggested the book “What it Takes: The Way to the White House” by Richard Ben Kramer. “You have these complicated, interesting women who all come from different backgrounds, different ideologies, different generations, and they are theoretically competitors, yet ultimately end up valuing each other over any of that," said Gugino. Throughout the episodes, the characters debate journalism ethics and ideologies and whether text, video or digital is the best medium. "Lola is arguing a point I’ve heard young journalists make or aspiring journalists make, that objectivity is sort of a myth.

Persons: Felicity Walker —, Hayden Wells Garrett, shucks, Scott Foley, Garrett, Mark Consuelos, Julie Plec, Amy Chozick, Hillary ”, ” Melissa Benoist, Sadie McCarthy, Hunter S, Thompson, Sadie's, Griffin Dunne, “, Carla Gugino, she's, There's, Christina Elmore, Lola, Natasha Behnam, Benoist, ”, “ I’ve, Chozick, Alexandra Pelosi, George, George W, Richard Ben Kramer, ” Lola, I’ve, Elmore, Foley, “ Felicity ”, Noel Organizations: —, New York Times, Texas Gov Locations: Grace, America

☆ Airbnb bans security cameras indoors worldwide
▼ + stars: | 2024-03-11 | by ( Dan Latu | ) www.businessinsider.com time to read: +3 min

Cameras were previously allowed if they were disclosed in the online listing description. AdvertisementAirbnb is officially banning the use of security cameras inside its listings, the short-term rental giant said Monday. Now Airbnb said it is changing its policy to a blanket ban after consulting with "guests, hosts, and privacy experts." Outdoor security cameras can remain in place, as long as they are disclosed in the listings. Airbnb security cameras divide hosts and guestsHosts and guests have clashed in the past on the use of security cameras in Airbnbs.

Persons: Airbnb, —, Zach Narus, Narus, Lisa Lewis, Lewis, Max Vest Organizations: Service, Airbnb, Twitter Locations: Airbnb, Arizona, Foley , Alabama, Florida, Miami

☆ A Book Celebrates James Foley and Confronts a Man Involved in His Murder
▼ + stars: | 2024-03-10 | by ( Max Ufberg | ) www.nytimes.com time to read: +1 min

Among the scattered notes taped to the door of the Irish author Colum McCann’s home office in Manhattan is a photograph of James Foley, the American journalist who was murdered by members of the Islamic State in August 2014. But Foley missed the message. She was busy creating the James W. Foley Legacy Foundation, an organization focused on protecting journalists and ensuring the freedom of Americans held hostage or wrongfully detained abroad. Then, in 2021, McCann and Foley found themselves on the same Zoom call. It was for a Marquette University book club; the group was reading another of McCann’s novels, “Apeirogon,” and Marquette was James Foley’s alma mater, so his mother had been invited.

Persons: Colum McCann’s, James Foley, ” McCann, James Foley’s, Diane Foley, —, Foley, James W, McCann, “ Organizations: Islamic State, Marquette University Locations: Manhattan, American, ”, Marquette, James Foley’s alma

Credits“The Run-Up” is hosted by Astead W. Herndon and produced by Anna Foley , Elisa Gutierrez and Caitlin O’Keefe . The show is edited by Rachel Dry , Lisa Tobin and Frannie Carr Toth . Engineering by Sophia Lanman and original music by Dan Powell , Marion Lozano , Pat McCusker , Diane Wong and Elisheba Ittoop . Fact-checking by Caitlin Love. Special thanks to Paula Szuchman, Sam Dolnick, Larissa Anderson, David Halbfinger, Renan Borelli, Mahima Chablani, Jeffrey Miranda and Maddy Masiello.

Persons: Astead W, Herndon, Anna Foley, Elisa Gutierrez, Caitlin O’Keefe, Rachel Dry, Lisa Tobin, Frannie Carr Toth, Sophia Lanman, Dan Powell, Marion Lozano, Pat McCusker, Diane Wong, Elisheba, Caitlin Love, Paula Szuchman, Sam Dolnick, Larissa Anderson, David Halbfinger, Renan Borelli, Mahima Chablani, Jeffrey Miranda, Maddy Masiello

For a lot of his most loyal supporters, Donald Trump isn’t just the former president or even the potential next president. He is, in their view, the true president — because many of them believe the 2020 election was stolen.

Persons: Donald Trump isn’t, —

☆ Watch CNBC's full interview with JPMorgan's Kevin Foley
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with JPMorgan's Kevin FoleyKevin Foley, JPMorgan global head of debt capital markets, joins 'Money Movers' to discuss the Federal Reserve's decision making, the impact to the credit markets, and why there's so much pent up demand.

Persons: JPMorgan's Kevin Foley Kevin Foley Organizations: JPMorgan

☆ Optimism around economy has led activity in refinance markets, says JPMorgan's Foley
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOptimism around economy has led activity in refinance markets, says JPMorgan's FoleyKevin Foley, JPMorgan global head of debt capital markets, joins 'Money Movers' to discuss the Federal Reserve's decision making, the impact to the credit markets, and why there's so much pent up demand.

Persons: JPMorgan's Foley Kevin Foley Organizations: JPMorgan

☆ Dollar firms ahead of busy data week with U.S. inflation in focus
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: +4 min

The dollar was on the front foot on Monday ahead of a packed week filled with key economic releases that will provide further clues on the global interest rate outlook, with a U.S. inflation reading taking center stage. The dollar was on the front foot on Monday ahead of a packed week filled with key economic releases that will provide further clues on the global interest rate outlook, with a U.S. inflation reading taking center stage. The kiwi had risen 1.2% last week, helped by broad dollar weakness and the risk of a rate hike from the RBNZ on Wednesday. "If anything, the (data) may be stronger than markets currently expect, and that will likely give a modest boost to the dollar," said CBA's Kong. "But at the same time, any gains in the dollar will likely be pretty modest.

Persons: Carol Kong, Sterling, Jane Foley, CBA's Organizations: Reserve Bank of New, New Zealand, Commonwealth Bank of Australia, of Japan's, U.S, Rabobank, U.S . Commodity Futures, Fed Locations: Japan, Australia, Reserve Bank of New Zealand, China, Asia, U.S

☆ Starboard nominates directors to Alight’s board. A plan to improve margins could be on the horizon
▼ + stars: | 2024-02-24 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. Additionally, Starboard has extensive experience helping portfolio companies improve margins from a board level and adding one or two of their nominees to the board could expedite this. CEO Issue: Alight's CEO Stephan Scholl is a talented technologist and software expert, but not an experienced operator of a benefits administration company. Like the experienced activist Starboard is, the firm wanted to preserve its options as it speaks privately with Alight. Shareholders would certainly benefit from the addition of two or three Starboard directors to the board.

Persons: Keith D, Dorsey, Matthew C, Levin, Gavin T, Molinelli, Foley Trasimene, William P, Foley, Stephan Scholl, William Foley, Coretha, Denise Williams, Ken Squire Organizations: ExCo, CR Consulting Alliance, FIS, 13D Locations: Boyden, SPACs

For the past few months, we’ve been asking our listeners to write in with questions, and we’ve gotten some great ones. Things like: How does polling work? Does Joe Biden’s stance on Gaza present a campaign challenge? And who might Donald Trump select as his running mate? But as we were sorting through them, an underlying theme started to emerge: People can’t seem to fathom that we’re careening toward a Biden-Trump rematch — and they want to know if anything could alter this seemingly inevitable reality.

Persons: we’ve, Joe Biden’s, Donald Trump Organizations: Biden, Trump Locations: Gaza

☆ Why a Supreme Court easy out in Trump ballot battle could lead to post-election chaos
▼ + stars: | 2024-02-13 | by ( John Fritze | Marshall Cohen | ) edition.cnn.com time to read: +7 min

CNN —When it comes to deciding whether former President Donald Trump should be booted from Colorado’s ballot, the easiest path the Supreme Court could take now may wind up causing the most chaos early next year. In the ballot litigation, Trump is appealing a decision from the Colorado Supreme Court in December that he incited the attack on the US Capitol as electoral votes were being counted in 2021. Arguments at the US Supreme Court last week focused less on whether there was an insurrection and more on technical questions about whether states may enforce the ban. A political fight over eligibility would likely be limited to Congress, but it could sweep the Supreme Court back into the thicket, as well. “Depending on just how horrendously ugly the situation could get, the court might feel compelled to become involved,” Foley said.

Persons: Donald Trump, ”, Gerard Magliocca, Trump, Magliocca, Jack Smith, John Roberts, Van Jones, “, Edward Foley, ” Foley, Ketanji Brown Jackson, Joe Biden, Jason Murray, ” Jackson, ” Murray, Murray, Derek Muller, –, Muller, Katelyn Polantz Organizations: CNN, Trump, Indiana University, Democratic, “, DC Circuit, Colorado Supreme Court, Capitol, US, Electoral College, The Ohio State University, Notre Dame Locations: Colorado, United States

Our listeners have lots of questions about polling. At this point in a usual primary season, still weeks away from Super Tuesday, most of the attention of polling would be on who might capture the nomination. But this year, with the race all but set, we’re anticipating nine months of polling on two men we already know very well. Today, to prepare for that future and to answer the many questions on the subject, we go behind the scenes with the New York Times polling team. And Nate Cohn, our chief political analyst, introduces us to “double haters” and other swingy voters he thinks will decide 2024.

Persons: Nate Cohn Organizations: Super, New York Times

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