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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
CNN —Ancestral African art is a linchpin of identity and a source of inspiration to creatives across the continent. For the first time in the 60-year history of the renowned Venice Biennale in Italy – an arts and culture festival lasting eight months, hosted every other year – Benin is presenting a national pavilion. Hazoumé hopes the exhibition will reiterate his message and inspire other African artists to own their past to fuel creativity. Ishola Akpo sets up his piece titled “Iyalode” at the Benin national pavilion in Venice, Italy. Moufouli Bello draws inspiration from children’s books, Gèlèdé philosophy and Yoruba traditions in this piece titled “Egbe Modjisola," on display at the Benin national pavilion in Venice, Italy.
Persons: Emmanuel Macron, Romuald Hazoumé's, Jacopo La, Jacopo La Forgia, Romuald Hazoumé, Chloé, Ishola Akpo, Moufouli Bello, we’ll, Hazoumé, Florian Kleinefenn, ” Nwagbogu, , , Gèlèdé, Chloé Quenum, Akpo, I’ve, Nwagbogu, ” Hazoumé Organizations: CNN, French, Smithsonian Museum of African, US, Venice Biennale, African Artist Foundation, Biennale Locations: Africa, West, Benin, Nigeria, Kingdom of Benin, Venice, Italy, , Rouge, curating, France, Madagascar, Ghana, Uganda, Cameroon
In the Arts, Is It Breaking Big, or Selling Out?
  + stars: | 2024-05-02 | by ( Farah Nayeri | ) www.nytimes.com   time to read: +1 min
The 11-foot sculpture looks like something out of a comic strip: a luxury handbag perched on skinny legs and matched with high-end sneakers. The work is by the Austrian-born artist Erwin Wurm, and it represents accessories from the collections of Lanvin, the French fashion house. “Desire” (the title of the sculpture) was commissioned by Lanvin and unveiled in Beijing in early April. “I made this piece because it fit into my series,” Wurm, 69, said in a phone interview, referring to his “walking bag” sculptures, which parody women’s contemporary passion for handbags. “I reduce females to long legs and shoes and handbags.
Persons: Erwin Wurm, , , Lanvin, ” Wurm Organizations: Shanghai —, Fosun Foundation, Fosun Locations: Austrian, Beijing, Shanghai
The American right’s growing embrace of Orbán builds upon millions of dollars that his government has spent on lobbying in the US, and new connections between Hungarian and American conservative think tanks. “Make America great again, make Europe great again!” Orbán declared in English, before continuing in Hungarian: “Go Donald Trump! Conservatives from around the US, Europe and beyond traveled to Budapest for the two-day event, which was organized by a Hungarian government-funded think tank. Two American nonprofits that are actively planning policies for a second Trump term have shown an interest in Hungary and Orbán’s model. But some of the American conservatives who flew into the country for CPAC seemed more focused on the optics of Budapest than on democratic rights.
Persons: crackdowns, , Viktor Orbán, Orbán, Donald Trump’s, ” Orbán, Donald Trump !, ” Trump, , Trump, Steve Bannon, President Trump, Gladden Pappin, Szilard Koszticsak, White, ” Pappin, “ saviors, Bannon, Kari Lake, Mark Meadows, Andy Harris, Zoltan Mathe, Paul Gosar, Christopher Rufo, István, Ron DeSantis, Trumpists, Kim Lane Scheppele, Orbán’s, Zsuzsanna Szelényi, ” Szelényi, Márton Gulyás, influencers strode, Joey Mannarino, ” Kyung Lah, Anna, Maja Rappard, Casey Tolan, Curt Devine Organizations: Hungary CNN —, Republican, Conservative, Trump, European Union, Hungarian Institute of International Affairs, Conservative Political, “ Conservative, White House, , Republican Arizona, CNN, Department of Justice, Southern Poverty Law, Heritage Foundation, America, Policy Institute, Institute, Florida Gov, Princeton Locations: Budapest, Hungary, American, Europe, Lago, Dallas, America, Hungarian, Arizona, United States, Paul Gosar of Arizona, Florida, “ Hungary, marveled, New York, Washington
CNN —Archaeologists have unearthed the skeletons of five people, missing their hands and feet, at a former Nazi military base in Poland. Latebra Fundation PolandHowever, they then found ashes and a burned key, before he found the skull fragment. The foundation is waiting to hear the results of a police investigation into the remains, and many questions remain unanswered. “Right now, it’s very hard to say.”The excavation site outside a house inside the Wolf's Lair Latebra Fundation PolandAn important next step is to find out the age of the remains using radio carbon dating, he added. Deliberately built miles from civilization in the forests of northeastern Poland, the Wolf’s Lair was the Nazis’ 6.5-square-kilometer (2.5-square-mile) Eastern Front headquarters.
Persons: Hermann Göring, Adolf Hitler, Adrian Kostrzewa, Latebra, , Hitler Organizations: CNN —, Nazi, Latebra Foundation, CNN, Third Locations: Poland, Gierloz, Polish, Gdansk, Europe
Late last year, Poland's national security agency estimated that Russia could attack NATO within three years. AdvertisementBut whether Putin really does intend to attack NATO and what an attack might look like remains unclear. In March, Putin denied having any plans to attack NATO members, describing such claims as "complete nonsense." "So, his ambition in growing is not going to be that he will attack NATO and NATO countries next year. A covert war is already underwayRussia, some point out, is already engaged in a war with NATO, albeit covertly.
Persons: , Donald Tusk, Tusk, Putin, Emmanuel Macron, NATO Putin, Philip Ingram, Ingram, Ruth Deyermond, Bryden Spurling, Robert Dover, Spurling, that's, SERGEY BOBOK, Russia's Organizations: Service, Poland's, Business, Bild, NATO, Germany isn't, Ukraine, King's College London, RAND Corporation, University of Hull, European NATO, RAND, Ukrainian Territorial Defence Forces Locations: Europe, Russia, Ukraine, Eastern Europe, Baltic, Estonia, Lithuania, Latvia, Germany, Washington, Russian, NATO, European, Kharkiv, Soviet Union
Jim Cramer on Wednesday blasted Starbucks CEO Laxman Narasimhan in a CNBC interview after the coffee giant delivered a terrible quarter and a guidance miss. The message from Narasimhan to Jim on TV: the quarter was bad due to China's choppiness and bad weather in the U.S. Jim questioned Narasimhan at every turn and strongly asked why Starbucks was still moving forward with expansion plans. Shortly after the CNBC interview, Cramer reflected on meetings he had with Narasimhan several times when he first took over as CEO from Howard Schultz. Jim's Charitable Trust, the portfolio used for the CNBC Investing Club , owns shares of Starbucks.
Persons: Jim Cramer, Laxman Narasimhan, Jim, Narasimhan, it's, China's, Tim Horton's, McDonald's, Dunkin, Cramer, Howard Schultz, that's, Jeff Marks Organizations: CNBC, Starbucks, U.S, Wednesday's, Trust, Club Locations: America, Japan, U.S
What was supposed to be a yearlong $140,000 renovation ballooned into three excruciating years that cost us more than $500,000 — and the work is still not finished. But as my husband and I soon discovered, unless you've made a plan, legal protections for homeowners are close to nonexistent. Every time our contractor turned up the temperature, we grimly adjusted to the reality of our demise. Knowing the cardinal rule of home renovation — never pay in full until the job is over and inspected — we grew suspicious. Despite completing several home-improvement and renovation projects with her husband over the years, she lacked the confidence to DIY the renovation of her newly purchased 6,500-square-foot home.
Persons: Arcadis, you've, Christine Chitnis, wasn't, It's, We've, Amanda Jane Jones, Jones, David Jensen, Greenberg Traurig, He'd, Jensen, Lisa DiAntonio, DiAntonio, hadn't, what's, Condé Organizations: Homeowners, Harvard's, for Housing Studies, Department of Business, American Institute of Architects, Vogue, The New York Times Locations: Rhode Island, North America, Northern Michigan, Michigan, Utah, New Jersey, Andover , Massachusetts
But research from the bipartisan Tax Foundation suggests otherwise, and says Trump's 2018 trade war was also economically damaging. The non-partisan Tax Foundation would beg to differ. Tax Foundation estimates that the tariffs then imposed have amounted to an $80 billion tax increase on Americans. Nobody else ever did anything on China," Trump explained. More tariffs under Trump could be poorly timed, as US monetary policy is already struggling to clamp down on current inflation levels.
Persons: Trump, , Donald Trump, Biden, Kenneth Rogoff Organizations: Time Magazine, Foundation, Service, Time, Republican, Trump, Federal Reserve Locations: China, India, Brazil, United States, Beijing
Just ahead of its blowout first-quarter earnings report on April 25, Google laid off at least 200 employees from its "Core" teams, in a reorganization that will include moving some roles to India and Mexico, CNBC has learned. The Core unit is responsible for building the technical foundation behind the company's flagship products and for protecting users' online safety, according to Google's website. Core teams include key technical units from information technology, its Python developer team, technical infrastructure, security foundation, app platforms, core developers, and various engineering roles. Many Core teams will hire corresponding roles in Mexico and India, according to internal documents viewed by CNBC. Asim Husain, vice president of Google Developer Ecosystem, announced news of the layoffs to his team in an email last week.
Persons: Sundar Pichai, Asim Husain, Husain, Ruth Porat, Prabhakar Raghavan Organizations: Inc, Government, Society, Google, CNBC, Mexico City, U.S Locations: Stanford , California, India, Mexico, Sunnyvale , California, Bangalore, Brazil
Of the four criminal cases that Donald Trump is facing, the one now unfolding in Manhattan is generally considered the weakest. Worst of all, it doesn’t speak to Mr. Trump’s actions as president, as the other cases do. As a historian who has written about the wrenching events of the 1960s and early 1970s, I can’t help seeing Mr. Trump’s legal troubles through the lens of an earlier Republican president. But unlike Mr. Trump, Mr. Nixon never faced criminal charges himself. For that, justice suffered, and the nation suffered, too.
Persons: Donald Trump, Richard Nixon, Trump, Nixon, Juan Merchan’s Locations: Manhattan
So, when Youthforia launched 10 new makeup shades in March, George gave the new darkest option — shade 600 — a chance. Widespread beauty backlashFollowing George's video, beauty fans and creators across the internet have criticized Youthforia and its attempt to make its foundation range more inclusive. George posted another TikTok video on Wednesday, which she captioned: "It's biologically impossible to be PURE black. Shade 600 seems to have no undertone, but it looks like they had more of a red undertone. Specifically, Rihanna's Fenty Beauty changed the game with its massive foundation range — it now boasts 51 shades — and the foundation from Halsey's brand About Face has become a new favorite.
Persons: , Golloria George, influencer, Fiona, Chan, George, Youthforia, Mark Cuban, Jackie Aina, Javon Ford, George's, didn't Organizations: Service, Business Locations: The California
The ordeal is just the latest hindrance to Zhang’s research since 2020, according to a colleague who has been in contact with the Chinese scientist in recent years. The “institute always respects … and supports scientific researchers and students in carrying out normal research work,” the statement said. The earlier post by Zhang’s students said the two days originally allocated by the center for them to move their scientific work was insufficient. Following the release of the data, Zhang’s lab had limitations placed on it, which barred it from isolating the Covid virus, Holmes said. That included imposing restrictions by April 2020 on the publication of academic research on the origins of the novel coronavirus.
Persons: Zhang Yongzhen’s, Zhang, , hadn’t, Hector Retamal, Edward Holmes, Holmes, ” Holmes, , He’s, Zhang Yongzhen, ” Zhang, “ He’s, It’s, virologist Organizations: Hong Kong CNN —, Shanghai, Health, Weibo, Zhang’s, Chinese Center for Disease Control, CNN, Fudan University, Health Clinical, Getty, World Health Organization, Nature, University, Sydney, CDC, China’s National Health Commission, Oxford University Press, Shanghai Public Health Center, Natural Science Foundation of China Locations: China, Hong Kong, Shanghai, Wuhan, AFP, Beijing
Amazon 's earnings report on Tuesday evening will give investors insight into two of the biggest stories on Wall Street — the resilient U.S. consumer and the artificial intelligence boom. Wall Street is generally optimistic about Amazon, as more than 90% of analysts have a buy or strong buy rating on the stock, according to LSEG. Several other tech companies, including Alphabet , have already reported strong advertising numbers for the first quarter. "We increase our Amazon advertising outlook following the impressive 2H23 performance and encouraging industry checks. On a ~55% margin, Advertising [earnings before interest and taxes] moves from $26B in FY23 to $41B in FY26," MoffettNathanson analyst Michael Morton said in an April 22 note.
Persons: Stephen Ju, Brian Pitz, Pitz, Michael Morton, Amazon's, Morton, MoffettNathanson, Ju, — CNBC's Michael Bloom Organizations: Amazon, Services, AWS, UBS, prem, BMO
The internally developed AI technology allows Walmart employees to scan produce like bananas to see how ripe the product is. Many clothing items are not recyclable, due to being made of blended fabrics. U.S. residents also discard about 11.3 million tons of clothing waste each year, according to Earth.org. Walmart isn't alone in using AI to tackle in-store waste, as several startups are creating tools to solve this growing problem. "When it comes to food waste, there is no silver bullet," said ReFED's executive director Dana Gunders, which has worked with Walmart for a few years on food waste solutions.
Persons: it's, Swati Kirti, Kirti, It's, UCLA Anderson, Sravana Karnati, Dana Gunders, Homer Swei, Swei, Karnati Organizations: Walmart, Walmart International Tech, UCLA, Walmart International Technology, Walmart Global Tech, Retailers Locations: Canada, U.S, United States, Mexico
Now, a new study has quantified the risk of depression during the transition, known as perimenopause — showing that women in this stage are about 40% more likely to experience the mental health condition than premenopausal women. The authors conducted the study — which is a review of seven studies totaling 9,141 women — to provide an estimate for the risk of developing clinical, diagnosed depression or depressive symptoms at different menopausal stages. The authors didn’t find a significant difference in risk of depression for postmenopausal women compared with premenopausal women. Badawy is now an associate graduate mental health worker at the Barnet, Enfield and Haringey Mental Health NHS Trust in London. And doctors should develop and maintain relationships with mental health providers to whom they can refer patients diagnosed with depression.
Persons: , Aimee Spector, ” Spector, , didn’t, Stephanie Faubion, Penny, Bill George, Faubion wasn’t, Yasmeen Badawy, ” Faubion, Faubion, Rebecca Thurston, wasn’t, Thurston, Organizations: CNN, Disorders, University College London, Johns Hopkins Medicine, Mayo Clinic’s Center, Women’s Health, Barnet, Haringey Mental Health, Trust, Pittsburgh, University of Pittsburgh, Lifeline Locations: United States, Australia, China, Netherlands, Switzerland, Minnesota, Enfield, Haringey, London
Nvidia is proving itself a key beneficiary as technology companies "spend like crazy" to take advantage of artificial intelligence, according to Melius Research. "Sometimes a no brainer is a no brainer," analyst Ben Reitzes wrote on Monday. Reitzes' bullish take is tied to how aggressively he says technology companies and fellow chipmakers are pursuing artificial general intelligence, or artificial intelligence most closely akin to human reconnaissance. Nvidia will remain an essential piece of any tech firm's AI pursuits, he said. NVDA YTD mountain Nvidia stock.
Persons: Ben Reitzes, Reitzes, Blackwell, Nvidia's Blackwell, — CNBC's Michael Bloom Organizations: Nvidia, Research, Microsoft
New coal mines continue to open each year, and oil and gas companies are still exploring new parts of the world. But increasingly, people — especially Indigenous communities — are saying no to new fossil fuel developments on their land and using courts and legislatures to deliver the message. In India, protests by Adivasi communities persuaded officials to cancel the auction of land for coal mines in the biodiverse forests of Chhattisgarh State. On Monday, leaders of these and other grass-roots environmental movements, spanning six countries, won the Goldman Environmental Prize. “One of the things we’ve seen in recent years is that environmental law, protection of natural resources, has become intertwined with human rights law and the law of Indigenous people,” said Michael Sutton, an environmental lawyer and the executive director of the Goldman Environmental Foundation.
Persons: , Michael Sutton Organizations: Shell Global, Goldman, Goldman Environmental Foundation Locations: India, Chhattisgarh State, South Africa, Australia, Queensland
Travis Kelce auctioned off four Taylor Swift Eras Tour tickets for $80,000 at a charity event. In 2023, Swift's Eras Tour contributed significantly to her estimated earnings of $1.1 billion. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTravis Kelce sold four tickets to Taylor Swift's Eras Tour for $80,000 at a charity auction hosted by Patrick Mahomes. Swift seemingly decided to auction off the tickets spontaneously, as they weren't included in the docket.
Persons: Travis Kelce, Taylor, Patrick Mahomes, , Swift Organizations: Service, Business Locations: Las Vegas
The April celebration Vaisakhi is a time when Sikhs gather for community worship, meals, and parades. Here I was in America about a century later trying to honor the community he helped build and, by extension, the Sikh faith. Anumeha Sinha for BINow in my late 20s, it's been 11 years since I've lived in a close-knit Sikh community. To feel closer to her community, Kaur said she's now making a personal effort to honor traditions she learned when she was younger. But outside the Sikh community — and increasingly after 9/11, like Singh mentioned — I saw people misunderstand our symbols of faith.
Persons: , Vaisakhi, Anumeha Sinha, Guru Nanak, Guru Gobind Singh, Singh, Kaur, it's, I've, Harmeet Kaur, Harman Singh, Harmeet, hadn't, Sahib, she's, Kaur's, nishaan sahib, I'm, It's Organizations: Service, New, BI, Khalsa, ., BI Kaur, New York, Darbar Locations: New York City, Richmond Hill, Queens, Punjab, South Asia, Bangkok, America, . Orange, Brooklyn, Kentucky, Pikeville, Lexington , Kentucky, Atlanta and New York, New, Detroit, India, Windsor , Ontario, Bangkok , New York
India is trying to modernize its military of 1.5 million people with lessons from Ukraine. AdvertisementAs India boosts defense spending amid tensions with China and Pakistan, it is closely studying the Ukraine conflict for clues to the future of warfare and how to thwart its neighbors. Some lessons that Indian experts have already drawn: India needs lots of artillery, drones and cyberwarfare capabilities. Drones have become the stars and workhorses of the air war, with both sides deploying — and losing — drones in the hundreds of thousands. AdvertisementThere are lessons here for Indian airpower, according to Arjun Subramaniam, a retired Indian Air Force air vice marshal who helped write the ORF report.
Persons: , Amrita Jash, Wolfgang Schwan, Arjun Subramaniam, Subramaniam, Cyberwarfare, Shimona Mohan, Mohan, Michael Peck Organizations: NATO, Service, Artillery, Indian Army, Manipal Academy of Higher Education, Observer Research Foundation, Getty, Russian, Indian Air Force, Air Force, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: India, Ukraine, Russia, China, Pakistan, Eastern, Western, Indian, Siversk, Donetsk Oblast, Anadolu, cyberwarfare, Forbes
Israeli flags are reflected in the sunglasses of a demonstrator in front of Columbia University in New York City, on April 22. Stephanie Keith/Bloomberg/Getty ImagesWith tension mounting over an encampment in support of Palestinians at New York’s Columbia University, police strode onto campus this month and arrested more than 100 demonstrators. Soon, dozens more students protesting the monthslong assault on Gaza were arrested at New York University and Yale University. Then at Emory University in Atlanta, law enforcement deployed pepper balls to break up a pro-Palestinian action, arresting 28, including several professors. It is a “drastic action” that “should be reserved for only the most direct and severe threats to campus safety,” Greenberg said.
Persons: Stephanie Keith, strode, , that’s, Zach Greenberg, ” Greenberg, Organizations: Columbia University, Bloomberg, Getty, New York’s Columbia University, New York University, Yale University, University of Texas, University of Southern, Emory University, Boston’s Emerson College, Indiana University, George Washington University and California State Polytechnic, Humboldt, Foundation, Rights Locations: New York City, New, Gaza, Austin, University of Southern California, Atlanta, Israel
“I had been to various countries in the European Union on several occasions but never Italy, though it was on my list. Millet says that he began planning to travel to Italy to buy a house back in 2019, but was thwarted by Covid-19. “The prices of the houses were super-attractive, especially coming from the Los Angeles area, and the Latronico properties were for the most part in good shape. “At the end of the day, I bought my place and began thinking about renovations and the future,” he adds. Sunset cocktailsThe house Millet bought has only one bedroom but came with two large basements.
Persons: you’re Paul Millet, you’ve, Millet, , , Covid, he’d, Paul Millet, he'll, Vincenzo Castellano, Latronico, ” Millet, Vincenzo Castellano Millet, Latronico’s peacefulness, “ It’s, I’ve, “ Franca, he’s, “ That’s, Latronico’s, Castellano Organizations: CNN, European Union, Locations: Italy, Italy’s Basilicata, Los Angeles, Basilicata, Ireland, Latronico, LA, Maui
In the 10 years since the drugmaker Gilead debuted a revolutionary treatment for hepatitis C, a wave of new therapies have been used to cure millions of people around the world of the blood-borne virus. Today, 15 countries, including Egypt, Canada and Australia, are on track to eliminate hepatitis C during this decade, according to the Center for Disease Analysis Foundation, a nonprofit. Each has pursued a dogged national screening and treatment campaign. Spread through the blood including IV drug use, hepatitis C causes liver inflammation, though people may not display symptoms for years. Only a fraction of Americans with the virus are aware of the infection, even as many develop the fatal disease.
Organizations: Center, Disease Analysis Locations: Egypt, Canada, Australia, United States
London CNN —Prince Harry will return to the United Kingdom in May to celebrate a milestone anniversary of the Invictus Games, the biennial sporting competition he founded a decade ago. It was not immediately clear if the prince will meet with his relatives during the trip next month. Prince Harry talks with wheelchair basketball players during the launch of the Invictus Games at the Copper Box Arena in London's Queen Elizabeth Olympic Park in March 2014. Max Mumby/Indigo/Getty ImagesThe Invictus Games were established by Prince Harry after his deployment in Afghanistan. Winter sports will also be played for the first time at the Vancouver Whistler games, including Alpine skiing and snowboarding, Nordic skiing and biathlon, skeleton and wheelchair curling.
Persons: London CNN — Prince Harry, Duke, Sussex, King Charles ’, Harry, ABC’s, , , I’m, Meghan, Duchess of Sussex, Queen Elizabeth II, Paul’s, Prince Archie’s, Buckingham, Charles, Naruhito, Masako, Prince Harry, London's Queen Elizabeth, Max Mumby, ” Harry Organizations: London CNN, Invictus Games, London's Queen Elizabeth Olympic, CNN’s Royal, Invictus, Vancouver Whistler, First Nations Locations: United Kingdom, London’s St, Paul’s, United States, St, London's Queen, Afghanistan, Vancouver, Whistler, Canada
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