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WHY WE’RE HEREWe’re exploring how America defines itself one place at a time. In Mississippi, a tradition of house tours is about more than architecture. It’s a window into how a city sees its past and its ambitions for the future. It was also a highlight of the longstanding tradition known as Pilgrimage. Every spring, the city’s finest antebellum homes are opened to the public for a few weeks, inviting people in to marvel at the craftsmanship and the opulence.
Organizations: . Homeowners Locations: Mississippi, Riverview, Southern, Columbus, Alabama
Read previewLooking at the headline numbers, the US labor market is booming. OVOM Research/Bullandbearprofits.comWolfenbarger's views in contextOther market observers have started to warn of a weakening labor market in recent months. Ian Shepherdson, the chief economist at Pantheon Macroeconomics, shared several indicators in a client note earlier this month warning of a job market slowdown ahead. Pantheon MacroeconomicsBut whether the labor market actually weakens materially remains to be seen. AdvertisementIf Wolfenbarger is right and the labor market falls apart in short order, it could catch an exceptionally bullish market off guard.
Persons: , Jon Wolfenbarger, Merrill Lynch, Wolfenbarger, Louis, Ian Shepherdson, Shepherdson, There's Organizations: Service, JPMorgan, Business, Labor Statistics, Fed, Conference, Treasury, OVOM, Pantheon, National Federation of Independent
When he was working full-time while also DIY home flipping, Carl recalls putting in 80 hours a week. Shifting to a more passive real-estate strategy: Private lendingThe Jensens started experimenting with private lending in 2016. "The private lending generates such a nice return that it's difficult to be like, 'No, we don't want to have the easy money. To get started in private lending, you need capital and a network. They're confident in the people that they're lending to, "and that is the most important part about lending out money: lending it to somebody that's going to pay you back."
Persons: , Carl, Mindy Jensen, It's, they've, Mindy, We've, who's, I'm, Let's, we're Organizations: Service, Business Locations: Colorado, New York
An eActros is unveiled at the Mercedes-Benz truck plant of Daimler Truck AG on Ocotber 7, 2021. Daimler Truck agreed to a new labor contract on Friday with over 7,300 hourly workers represented by the United Auto Workers (UAW) at six facilities in the U.S. South, averting a strike at the 11th hour. Daimler Truck, which makes Freightliner and Western Star trucks and Thomas Built buses, had faced the possibility of a strike beginning at midnight ET. Fain's speech on Friday started almost an hour later than scheduled as Daimler Truck made late concessions, Fain explained. Under Friday's deal, Daimler Truck workers will receive a minimum 25% general wage increase over the four-year contract, Fain said.
Persons: Shawn Fain, Thomas, Daimler Truck, Fain Organizations: Mercedes, Benz, Daimler Truck AG, Daimler, United Auto Workers, UAW, YouTube, Freightliner, Western Star, Daimler Truck, Detroit Three, General Motors, Ford, Detroit Locations: U.S, Charlotte , North Carolina, Alabama
Read previewThe Biden administration this week pushed out a slate of rules it says are meant to boost competitiveness and put more money into workers' pockets. There are already challenges to at least one of the rules — but together they could land overtime pay for millions more workers, ban noncompetes that prevent workers from moving into jobs in similar industries, and help people get automatic refunds for delayed or canceled flights. More workers eligible for overtime payUnder the Department of Labor's new rule, many workers who make under $43,888 will be eligible for overtime pay effective July 1. A ban on noncompetes that keep workers from taking new jobsPerhaps the most sweeping action for workers came from the Federal Trade Commission, which finalized a rule to ban noncompetes in most cases. Will a ban on noncompetes, new overtime thresholds, or airline refunds affect your life?
Persons: , Biden, Lael Brainard, That's, it's, Judy Conti, Pete Buttigieg, Brainard, Aaron, Ryan, John Smith, Suzanne Clark, Jeremy Merkelson, Davis Wright Tremaine, Merkelson, Elizabeth Wilkins, Wilkins Organizations: Service, Business, National Economic Council, Department of, National Employment Law, of Transportation, Federal Trade Commission, . Upjohn Institute, Employment Research, of Commerce, Texas Association of Business, Federal Trade, Chamber of Commerce, FTC
The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.
Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York
A Strike Looms in a Battleground State
  + stars: | 2024-04-26 | by ( Matthew Cullen | ) www.nytimes.com   time to read: +1 min
More than 7,000 workers who make trucks and buses at Daimler Truck plants in North Carolina are poised to go on strike at midnight, barring a last-minute breakthrough. The United Automobile Workers, the union that represents the workers, said it was demanding a “historic deal” from the truck maker, including pay raises and more job security. “It’s our generation-defining moment,” Shawn Fain, U.A.W.’s president, said. A strike in North Carolina — a battleground state that has a Democratic governor, but that President Biden narrowly lost in 2020 — could also have repercussions on the 2024 campaign. Biden, who has proclaimed himself the “most pro-union president in history,” has indicated that he could step in aggressively to support the Daimler workers.
Persons: , ” Shawn Fain, U.A.W, , Biden, , Organizations: Daimler, United Automobile Workers, U.S, Democratic Locations: North Carolina, Southern
Chipotle's CFO said that says that fewer customers are ordering ahead as its service speeds up. A key metric for the chain is how many entrées each restaurant makes in its peak 15 minutes. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChipotle says that its service is becoming so much speedier that fewer customers are bothering to order ahead on its app. During the pandemic, many fast-food and fast-casual chains rolled out ways for customers to order ahead so that customers could skip the line.
Persons: , Chipotle, Jack Hartung, Brian Niccol, Niccol, Hartung Organizations: Service, Business, Boston
Inflation showed little signs of letting up in March, with a key barometer the Federal Reserve watches closely showing that price pressures remain elevated. The personal consumption expenditures price index excluding food and energy increased 2.8% from a year ago in March, the same as in February, the Commerce Department reported Friday. Including food and energy, the all-items PCE price gauge increased 2.7%, compared to the 2.6% estimate. The Fed targets 2% inflation, a level that core PCE has been above for the past three years. Services prices increased 0.4% on the month while goods were up 0.1%, reflecting a swing back in consumer prices as goods inflation dominated since the early days of the Covid pandemic.
Persons: Dow Jones, George Mateyo Organizations: Reserve, Commerce Department, Dow, Treasury, Key Wealth, Fed, Labor Department
New York CNN —The Federal Reserve’s favorite inflation reading is due Friday morning. Investors are nervously awaiting the report after first-quarter US GDP came in softer than expected Thursday. Stocks tumbled as the slowdown in GDP, coupled with stubbornly high inflation data, stoked fears of stagflation. Wall Street earlier this year expected that the central bank would ease rates as many as six times in 2024, beginning in March. Yellen said the weaker reading was not “concerning,” mentioning that measures of underlying growth were strong in Thursday’s report.
Persons: Stocks, , Ayako Yoshioka, Janet Yellen, Alessandra Galloni, Alicia Wallace, ” Yellen, , we’ve, Yellen, Read, Freddie Mac, Bryan Mena, Lawrence Yun Organizations: CNN Business, Bell, New York CNN, Gross, Commerce Department, Atlanta, Fed, Thursday’s, Group, Traders, Bank of America, Reuters, National Association of Realtors Locations: New York, Yellen
A CVS Omicare pharmacy in Las Vegas has become the first location to join a new national pharmacy union, a milestone as organizers try to help thousands of U.S. pharmacy workers address what they call unsafe working conditions. Nearly 30 pharmacy staff at the Las Vegas branch of CVS's Omnicare won their union election on Thursday by a landslide margin of 87% to 13%. Those workers now join The Pharmacy Guild, which will represent them in labor negotiations with CVS. The Pharmacy Guild will now work to strike a union contract with CVS to address the concerns of Omnicare workers in Las Vegas. The Pharmacy Guild is seeing momentum build in other parts of the country.
Persons: CVS's Omnicare, Shane Jerominski, Jerominski Organizations: CVS, Las, Pharmacy, CNBC, IAM Healthcare, Walgreens, Rite - Locations: Las Vegas, CVS's, Nevada, Rhode Island
A second Norfolk Southern union said Friday it would back activist Ancora's efforts to elect seven directors and oust CEO Alan Shaw, a sign of labor dissatisfaction with management and a key endorsement for Ancora as Norfolk Southern's shareholder meeting nears. The BLET Teamsters, which represents the engineers and trainsmen who operate Norfolk Southern's locomotives, said Friday they're throwing their weight behind Ancora. "It's a privilege to receive support from the BLET Teamsters, who believe in our plan to improve performance, safety and employee relations at Norfolk Southern," Barber said. The latest endorsement, coupled with the support of the BMWED Teamsters earlier this week, means roughly half of NSC's unionized employees are supporting the activist, Ancora said. "We recognize the hard work that the BLET Teamsters members and all of the Company's employees put in every day," Boychuk said.
Persons: Alan Shaw, John Orr, Edward Hall, Jim Barber, Jamie Boychuk, Barber, Ancora, Boychuk Organizations: Norfolk Southern, Teamsters, NS, BLET Teamsters, Norfolk, Ancora . Norfolk Southern Locations: Ancora, Norfolk, Ancora . Norfolk
Barring a last-minute breakthrough, more than 7,000 workers are set to walk off their truck and bus assembly lines on Friday night in the swing state of North Carolina, injecting the United Automobile Workers’ new activism in the South directly into the 2024 election. North Carolina has never been hospitable to organized labor, and the midnight strike at the North American subsidiary of the German industrial giant Daimler Truck has been greeted with trepidation by the state’s Democratic establishment, which has long tried to project a moderate, pro-business bent. But Shawn Fain, the U.A.W.’s brash new president, doesn’t much care. “We don’t expect politicians to save the day, but at the end of the day, politicians have an obligation to the people that elect them,” he said in an interview on Thursday, adding: “It’s our generation-defining moment. This is a time where politicians need to pick a side.”In September, President Biden joined the picket line of the U.A.W.’s successful strike of the Big Three U.S. automakers, and Thursday, a White House spokeswoman, Robyn Patterson, indicated that the president could be equally aggressive if there was a Daimler walkout.
Persons: Shawn Fain, , Biden, , Robyn Patterson Organizations: United Automobile Workers, North, Daimler, Democratic, , Big, U.S, automakers, House Locations: North Carolina, Carolina, North American
Finally, consumers are dipping into savings to fund those purchases, creating a precarious scenario, if not now then down the road. With unemployment under 4%, it shouldn't be that surprising that prices aren't" going down, said Joseph LaVorgna, chief economist at SMBC Nikko Securities. So you might have a sticky inflation scenario." "If inflation remains higher, the Fed will be faced with the difficult choice of pushing the economy into a recession, abandoning its soft-landing scenario, or tolerating inflation higher than 2%," Sanders said. "To us, accepting higher inflation is the more prudent option."
Persons: Justin Sullivan, Joseph LaVorgna, LaVorgna, Donald Trump, Biden, Mike Sanders, Sanders Organizations: Getty, Federal Reserve, Commerce Department, Nikko Securities, National Economic Council, Madison Investments Locations: San Rafael , California, U.S
The October report found that around 13% of Americans reported economic hardship over the prior year due to climate change. Climate change could cost Americans born in 2024 nearly $500,000, due to higher taxes and pricier housing and food, among many other factors, ICF, a consulting firm, recently found in a report commissioned by Consumer Reports. Stan Honda | AFP | Getty ImagesOther health effects of climate change reflect more widespread shifts in global conditions. "There are clear interactions between heat waves and health conditions," said Charles Driscoll, a professor at Syracuse University who studies climate change. Climate change leads to droughts, which lead to crop failures, which cause food price spikes.
Persons: Chandan Khanna, Andrew Rumbach, Eva Marie Uzcategui, Wagner, Rumbach, Stan Honda, Charles Driscoll, Driscoll, Ringo H.W, Chiu, Mark Kantrowitz, Gernot Wagner Organizations: AFP, Getty, U.S . Department of, Treasury, Consumer Reports, Urban Institute, Bloomberg, U.S . Census, Insurance, Swiss Re Institute, Health, Natural Resources Defense, Syracuse University, International Labour Organization, Kaiser Family Foundation, of Labor Statistics, Columbia Business Locations: Fort Lauderdale , Florida, U.S, Fort Myers Beach , Florida, Florida , Louisiana, California, Hurricane, Queens, New York, Malibu, Malibu , Calif
From pregnancy to birth to postpartum, there are many significant differences between the countries when it comes to having a baby. Midwives in Germany undergo extensive training and also lead most births, whether at a hospital, birth center, or home birth. I had so many pain relief optionsAt both hospitals and birth centers, Germany offers quite an array of pain relief options. My insurance covered prenatal and postpartum classesSomething really helpful for expecting parents in Germany is the fact that many prenatal and postpartum classes are covered partially or fully by health insurance. Last but not least, I loved that my insurance covered most of the costs for a postpartum pelvic floor exercise course called "ruckbildungskurs."
Persons: , it's Organizations: Service, Business Locations: Germany, United States
Southwest Airlines and American Airlines posted losses in the first quarter of 2024. On Thursday, Southwest Airlines and American Airlines reported losses in their quarterly earnings call. Southwest Airlines CEO Bob Jordan told CNBC the decision to cease flights had "nothing to do" with Boeing's aircraft delivery delays. AdvertisementRepresentatives for Southwest Airlines and American Airlines didn't immediately respond to a request for comment from BI sent outside regular business hours. "Near term, yes, we are in a tough moment," Boeing CEO Dave Calhoun said in a letter to employees on the same day.
Persons: It's, Bob Jordan, , George Bush, Jordan, Robert Isom, I've, Isom, Isom's, Brian West, Dave Calhoun Organizations: Boeing, Airlines, Southwest Airlines, American Airlines, Southwest, Service, , — Bellingham International, Cozumel International Airport, George, George Bush Intercontinental Airport, Syracuse Hancock International, CNBC, American, Bank of America Global Industrials Conference . West, BI, Max, Wednesday Locations: — Bellingham, Cozumel, Southwest, Oregon, California
The Justice Department settled over 100 claims from victims of Larry Nassar for $138.7 million. But it's ignored claims from Jeffrey Epstein victims, who say law enforcement failed to protect them. Representatives for the Justice Department didn't immediately respond to Business Insider's request for comment Friday. But the Justice Department, while not denying wrongdoing, hasn't engaged in settlement talks, he said. He said, "It's confusing and confounding" that the FBI isn't addressing the claims of Epstein's victims with the same urgency it gave Nassar's.
Persons: Larry Nassar, it's, Jeffrey Epstein, Epstein, , Nassar, Jordan Merson, Merson, Justice Department didn't, Jane, Alexander Acosta, Donald Trump's, Ghislaine Maxwell, Acosta, Cory Booker, Marsha Blackburn, Christopher Wray, Wray, hasn't Organizations: Department, Service, Justice Department, USA Gymnastics, Justice, FBI, Business, DOJ, Miami Herald, Department's, US, US Virgin Islands Locations: New York, Florida, US Virgin
A Starbucks worker boards the Starbucks union bus after Starbucks workers stood on the picket line with striking SAG-AFTRA and Writers Guild of America (WGA) members in solidarity outside Netflix studios on July 28, 2023 in Los Angeles, California. Starbucks and Workers United, which represents roughly 500 of its cafes, said Friday in a joint release that they made "significant progress" in their contract talks this week. The two-day session marked the first time in nearly a year that Starbucks and Workers United came to the bargaining table. Workers United has broadly pushed for higher wages and more consistent scheduling, among a range of other priorities. After a year, workers who lose faith in the union can petition to decertify, putting a ticking clock on negotiations.
Persons: there's Organizations: SAG, Guild of America, Netflix, Starbucks, Workers United, Service Employees International Union, SEIU . Workers United Locations: Los Angeles , California, Atlanta
Americans say they don't have enough money for retirement, with a solid chunk having no savings at all. At the same time, the economy is about to see the "peak boomer" generation retire and deplete their savings. Tourangeau is part of a generation of older Americans who don't feel confident in their financial situation. Any of those who leave the workforce to retire may need to rely on any retirement savings they have built. AdvertisementAre you a peak boomer or older American worried you won't have enough money for retirement?
Persons: , Pam Tourangeau, let's, it's, Indira Venkateswaran, Venkateswaran, Nancy LeaMond, LeaMond Organizations: Service, Congressional Research Service, AARP, Research, Savings, Americans, Federal Reserve, University of Michigan Health, Alliance, Lifetime, Security, Social Security Locations: America
It's a week jam-packed with notable events, including earnings from Apple , Amazon and Eli Lilly . He also said to pay attention to Wednesday's Federal Reserve meeting and Friday's employment figures from the Department of Labor. "We have to run such a ridiculous gauntlet next week that I have no idea how it'll play out," he said. Wednesday also brings reports from Wingstop , Carvana and Marriott . Apple will report on Thursday, and Cramer noted there's been a lot of negative sentiment from investors surrounding the company.
Persons: CNBC's Jim Cramer, Eli Lilly, Jensen Huang, Cramer, it's, he'll, Seagen, there's Organizations: Apple, Federal Reserve, Department of Labor, Nvidia, Food and Drug Administration, Starbucks, CVS, Pfizer, Amazon, Walgreens, Marriott, Vision Locations: It's, China, Wingstop, Carvana
The Fed aims to keep inflation at 2% over the longer run. Meanwhile, among the 20 countries that use the euro, annual consumer price inflation has slowed steadily since the start of the year. Fed Governor Michelle Bowman said earlier this month that she would favor a rate hike “should progress on inflation stall or even reverse.”So why does the United States appear to have a bigger inflation problem than Europe? Some economists argue there isn’t actually much daylight between the US and European rates of inflation, pointing to a quirk in the US measures. The measure is designed to track inflation in the real estate market while accounting for the fact that most Americans own their homes.
Persons: Michelle Bowman, Paul Donovan, Simon MacAdam, , MacAdam, ” Carsten Brzeski, Janet Yellen, Jim Watson, Brzeski, , ” Davide Oneglia Organizations: London CNN, Federal Reserve, European Central Bank, PCE, UBS Global Wealth Management, Capital Economics, ING, CNN, Monetary Fund, Washington, Reuters, Getty, , ECB, Lombard Locations: United States, Europe, Centreville , Maryland, AFP, Russia, Ukraine
On top of that, the latest U.S. jobs market scorecard will be released along with more mega-cap earnings. This week, the U.S. 10-year Treasury yield briefly climbed above 4.7% for the first time since November. That's down sharply from the six or seven rate cuts investors were anticipating coming into the year. April jobs Investors will also get an update on the labor picture next week, with the release of the April nonfarm payrolls report set for Friday. Corporate earnings season will also ramp up in the week ahead with a slew of consumer-facing companies set to report.
Persons: Stocks, Powell, David Alcaly, Jerome Powell's, we've, they're, Brian Nick, Matt Stucky, it's, Stucky, Dow Jones, Nick, Archer, Eli Lilly, Kraft, Estee, Ingersoll Rand, Stanley Black, Decker, Hershey Organizations: Nasdaq, Google, Microsoft, Treasury, Lazard Asset Management, Macro, Northwestern Mutual Wealth Management Company, Fed, Apple, Micro Computer, Dallas Fed, Paramount, ON Semiconductor, Chicago PMI, Prudential Financial, Devices, Storage, Diamondback Energy, Caesars Entertainment, Corning, Daniels, Midland, Molson Coors Beverage, Marathon Petroleum, GE Healthcare Technologies, PayPal, ADP, P Global, Manufacturing, Oil, MGM Resorts International, Allstate, Etsy, eBay, Qualcomm, MetLife, First, Devon Energy, Cruise Line Holdings, Brands, Marriott International, Kraft Heinz, Pfizer, Companies, CVS Health, Generac, Mastercard, Labor, Nation Entertainment, Booking Holdings, Natural Resources, Motorola Solutions, Expedia, EOG, Coterra Energy, Dominion Energy, Howmet Aerospace, ConocoPhillips, Moderna, PMI, Services PMI Locations: U.S, Chicago, McDonald's, Albemarle, EOG Resources
taylor-swift-tortured-poets-department-lyric-correction
  + stars: | 2024-04-25 | by ( ) www.cnbc.com   time to read: 1 min
An earlier version of this story inaccurately characterized the labor force participation rate among women aged 25 to 54 in June 2023.
Activist Ancora on Thursday won the support of the BMWED Teamsters in the investor's efforts to oust Norfolk Southern CEO Alan Shaw and a majority of the railroad's 13-person board. The labor group said it would back the activist's seven director nominees over Norfolk Southern management, a significant endorsement in an industry unusually dependent on union support. The support from the BMWED Teamsters, whose members build and maintain the track infrastructure that keeps Norfolk Southern trains moving, amounts to a sharp rebuke of Shaw and Norfolk Southern's board. Norfolk Southern and Ancora have been locked in a proxy contest for several months. Neuberger Berman, for example, is backing the activist and said that Norfolk Southern had a history of poor governance and that a boardroom change was needed.
Persons: Ancora, Alan Shaw, Shaw, Tony Cardwell, Cardwell, Jim Barber, Jamie Boychuk, Boychuk, Barber, It's, John Orr, Glass Lewis, Neuberger Berman Organizations: Thursday, Teamsters, Norfolk Southern, Norfolk, BMWED Teamsters, Labor, American Federation of Labor, Industrial Organizations, CSX, Ancora Locations: Norfolk Southern, Norfolk, U.S, East Palestine , Ohio, Washington
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