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The untimely death of a 35-year-old Bank of America associate has sparked a conversation across Wall Street over working conditions. "And to at least just start having those conversations as to how they can make junior bankers work life much better because it's been long overdue. At BofA, 100-plus hour weeks logged by junior bankers aren't unusual, said current and former employees, who questioned whether the firm's system for flagging excessive amounts of work was actually effective. But some junior bankers felt dismayed by an apparent lack of written communication from bank leaders about the incident, this person added. Crushing exhaustion, heightened demandsThe former BofA investment-banking analyst, who was not on Lukenas' team, quit in 2023 after two years.
Persons: Leo Lukenas III, BofA, Lukenas, it's, Goldman Sachs, Lukenas —, , UMB, Christopher Perkins, Perkins, Les Lukenas, Green, Leo, Reed Alexander, Emmalyse Organizations: Service, of America, Wall, Army, Green Beret, Special Forces, Reuters, New York Office, Business, Bank of America, Investment, Goldman, Heartland Financial, Inc, FIG, Citigroup, Veterans, BI, LinkedIn, Green Berets, Army Special Forces Locations: BofA, London, Wall, ebrownstein@businessinsider.com
Judge Aileen Cannon on Tuesday delayed Donald Trump's classified documents case indefinitely. AdvertisementUS District Judge Aileen Cannon handed former President Donald Trump yet another legal win when she delayed his classified documents case indefinitely on Tuesday. It's just the latest legal win for Trump in the classified documents case handed to him by Cannon. Ty Cobb, a former Trump White House attorney, told CNN on Tuesday that Cannon's latest decision was "a combination of bias and incompetence." In light of Cannon's latest delay, Kalir said it was not surprising given her prior actions on the case.
Persons: Aileen Cannon, Donald Trump's, It's, , Donald Trump, Cannon, Trump, Jack Smith's, Canon, Katie Charleston, Justice Department —, Paula Reid, Judge Cannon, I'm, She's, aren't, Ty Cobb, galvanizes, Charlie Kolean, Kolean, Tre Lovell, it's, Doron Kalir, Fani Willis, Nathan Wade, Kalir Organizations: Trump, Service, Business, Justice Department, FBI, Mar, Appeals, Associated Press, Court, Trump White House, CNN, RED PAC, Cleveland State University College of Law Locations: Lago, Southern Florida, Trump's, South Florida, Georgia, New York
The IFA 2020 Special Edition will take place from September 3-5. (Photo by Sean Gallup/Getty Images)The U.S. has revoked certain licenses for chip exports to Chinese tech giant Huawei, the Commerce Department told CNBC on Tuesday, in its latest efforts to curb China's tech power. "As part of this process, as we have done in the past, we sometimes revoke export licenses," the spokesperson said, declining to comment on specific licenses. "But we can confirm that we have revoked certain licenses for exports to Huawei." In 2020, the U.S. tightened chip restrictions on Huawei, requiring foreign manufacturers using American chipmaking equipment to obtain a license before they can sell semiconductors to Huawei.
Persons: Sean Gallup Organizations: Huawei, IFA, Getty, U.S, Commerce Department, CNBC Locations: BERLIN, GERMANY, Berlin, Germany, U.S
The Quwwat-ul-Islam mosque is part of the UNESCO-listed Qutb Minar complex. Scientists both in India and abroad began studying the iron pillar in Delhi in 1912 to try to figure out why it hadn’t corroded. Stuart Forster/ShutterstockBeyond its metallurgical intrigue, the origin of the Iron Pillar is also veiled in mystery. In the epic poem “Prithviraj Raso,” penned by Chand Bardai, a courtier in the Chahamana dynasty under King Prithviraj Chauhan, the Iron Pillar holds great significance. “Bardai describes the Iron Pillar in Raso as a nail holding the Earth on the hoof of Sheshnag, the serpent king in Hindu mythology,” says Vikramjit.
Persons: Qutb, Anders Blomqvist, Balasubramaniam, Stuart Forster, Gupta, Chandragupta II, Vikramaditya, Vishnu, It’s, Garuda, Vikramjit Singh Rooprai, King Vikramaditya, Siddhanta, , Raja Anangpal, Qutbuddin, Prithviraj Raso, Chand Bardai, King Prithviraj Chauhan, “ Bardai, “ Raso, Anangpal, Qutub, Ravi Pratap Singh, Pragya Nagar Organizations: CNN, New Delhi’s UNESCO, UNESCO, Indian Institute of Technology, National Metallurgical Laboratory, Indian Institute of Metals, Varāhamihira, ASI, Survey Locations: Mehrauli, Islam, India, Delhi, Kanpur, Varah, Udayagiri Caves, Vidisha, Madhya Pradesh, , Mihirapuri, Tomar, Raso
Kim Kardashian returned to the Met Gala on Monday night in another extreme corset. In 2019, Kardashian wore a corset that was so tight she had to take special breathing lessons. AdvertisementSome people have extreme sports, Kim Kardashian has the Met Gala. Kardashian wore a custom John Galliano ensemble to the Met Gala on Monday night. Gilbert Flores/Variety via Getty ImagesKardashian is known for taking extreme measures to pull off her big Met Gala moments.
Persons: Kim Kardashian, John Galliano, Kardashian, , Dimitrios Kambouris, Gilbert Flores, Thierry Mugler, Kevin Mazur, I'm, Marilyn Monroe's, Monroe, John F, Kennedy, Angela Weiss, Bob Mackie Organizations: Service, Metropolitan Museum of Art, The Met Museum, Variety, Getty, Vogue
More Americans are paying capital gains taxes on home sale profits amid soaring property values — but there are ways to reduce your bill, experts say. In 2023, nearly 8% of U.S. home sales yielded profits exceeding $500,000, compared to about 3% in 2019, according to an April report from real estate data firm CoreLogic. It's key for a special tax break for homeowners who make a profit when selling a primary residence. Married couples filing together can make up to $500,000 on the sale without owing capital gains taxes. "With the recent rise in home values, more sellers have been facing a capital gains tax hit," Quinones said.
Persons: Jaime Quinones, " Quinones Organizations: Finance, Stockade Wealth Management Locations: U.S, Marlboro , New Jersey
The new Swiss Army Knife will be missing a key feature
  + stars: | 2024-05-07 | by ( Jack Guy | ) edition.cnn.com   time to read: +2 min
CNN —The maker of the Swiss Army Knife is working on a new version of the classic multi-tool, which won’t have a blade. “We are in the early stages of developing pocket tools without blades,” a spokesperson for Swiss firm Victorinox told CNN in a statement Tuesday, adding that they will compliment the existing range of multi-tools rather than replacing them. Adrian Moser/Bloomberg/Getty ImagesCNN contacted Victorinox after company CEO Carl Elsener Jr. told Swiss media outlet Blick that he is concerned about increasingly stringent regulations on knives in many markets. For example, increasing concern over the prevalence of knife crime means that the British government is considering new legislation on bladed articles, and Elsener himself referenced the country’s rules. “In England or certain Asian countries, you are sometimes only allowed to carry a knife if you need to have it to do your job or operate outdoors,” said Elsener.
Persons: Victorinox, , Adrian Moser, Carl Elsener Jr, Elsener, Karl Elsener, Arnd Wiegmann, Elsener Jr, CNN’s Richard Quest Organizations: CNN, Swiss Army, Bloomberg, Getty Images CNN, , “ Cyclists, Reuters Locations: Ibach, Switzerland, Swiss, England,
Investors in Blackstone's real-estate fund asked for their money back in droves — more than $15 billion to date. Unless the real-estate market comes roaring back, analysts warn, BREIT could end up shrinking to a fraction of its current size, leaving the fund's investors holding the bag. Only 3% of BREIT's holdings are in office buildings, which have been ground zero for commercial real estate pain. Advertisement"Not all real estate is created equal," BREIT boasted in a recent letter to stockholders, "and where you invest matters." "Commercial real estate is a slow burn," Brian Moynihan, the CEO of Bank of America, recently observed.
Persons: Blackstone, , BREIT, REITs, Steve Schwarzman, Jeenah, Nate Koppikar, Craig McCann, BREIT's, Chilton, ​ ​ McCann, McCann, Horacio Villalobos, That's, Donald Trump, Robert Chang, Schwarzman, Michael Blackshire, Phil Bak, Stephen Schwarzman, Shannon Stapleton, Brian Moynihan, it's, It's Organizations: BREIT, Orso Partners, Securities Exchange Commission, Blackstone, SEC, Chilton Capital Management, SLCG Economics Consulting, Publicly, University of California, Regents, Armada Investors, Reuters, Bank of America Locations: BREIT, Lisbon, Fideres
Ukraine used exploding drone boats to attack Russian naval assets on Monday. AdvertisementUkraine appears to be arming its naval drones with heat-seeking missiles to defend against air attacks, an unusual innovation for Kyiv's growing arsenal of explosive unmanned systems. Equipping the Ukrainian drones with this kind of air-combat munition could help them defend against aerial attacks, war watchers suspect. In the Black Sea, Russian forces spotted a Ukrainian USV armed with a twin rail launcher for R-73 all-aspect IR homing air-to-air missiles. Monday's naval drone attack marked the latest strike on a Russian naval asset.
Persons: , 🐈🇺 Organizations: Service, br Locations: Ukraine, Russian, Crimean, Moscow, Ukrainian, Crimea, Kherson
Virtually every new vehicle sold in the last few years has sensors and cameras, including radar and sonar, throughout the body of the vehicle. These have made the repair process more complex because, unlike a smashed fender, a sensor or camera can’t just be bolted or welded back on. Some of these systems can cut crash rates in half, said Greg Brannon, director of automotive engineering at AAA. In a crash, these sensors and cameras can be damaged or just knocked out of alignment. Claim adjustors, who often come from the collision repair industry themselves, need to understand all the nuances involved in repairing these automated systems and sensors.
Persons: It’s, , Todd Dillender, Greg Brannon, “ They’re, Brannon, , Hami Ebrahimi, ” Ebrahimi, Ebrahimi, That’s, Dillender, adjuster, Mike Bunda, We’ve Organizations: CNN, Auto, AAA, Systems Locations: United States, Chicago, Seattle, New York
My birthday always falls around Mother's Day, and this year it's the same day. Mother's Day. AdvertisementThis is the first year Mother's Day has fallen on my birthday since I became a mom a decade ago. While I paused, he added, "It's Mother's Day, too," and I fought the urge to roll my eyes. There's pressure to have the perfect birthday, just like there's pressure to have the perfect Mother's Day.
Persons: I'm, , isn't, we've, He's, who's, I've Organizations: Service, Mother's, Hallmark
CNN —Judge Aileen Cannon has indefinitely postponed former President Donald Trump’s classified documents trial in Florida, citing significant issues around classified evidence that would need to be worked out before the federal criminal case goes to a jury. In an order Tuesday, Cannon cancelled the May trial date and did not set a new date. By indefinitely postponing the classified documents trial, Cannon’s order pushes it closer to the 2024 election – and potentially afterward. Although Trump’s attorneys have continuously asserted in court filings that a pre-election trial would be “unfair.”The further delayed trial also could put Trump’s two federal cases on a collision course. Trump is charged in the Florida case with mishandling classified documents and with working with two co-defendants, Walt Nauta and Carlos De Oliveira, to obstruct the Justice Department’s investigation.
Persons: Aileen Cannon, Donald Trump’s, Cannon, Trump, Cannon’s, Jack Smith’s, Trump’s, Walt Nauta, Carlos De Oliveira, Department’s, Biden, Smith, Joe Biden’s Organizations: CNN, Trump Locations: Florida, New York, Washington, DC
A Master Promissory Note, or MPN, is a legal document that outlines the terms and conditions of your federal student loans. Promissory notes are used for all types of loans, like auto loans, mortgages, and personal loans, though an MPN is a special type of promissory note used exclusively for federal student loans. Why the MPN mattersIt's important for student loan borrowers to sign and understand an MPN for the following reasons:It's Not Optional: Required to receive federal student loans. In general, you'll default on most federal student loans if you have not made a payment in more than 270 days. Ryan Wangman, CEPF Loans Reporter Ryan Wangman was a reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans.
Persons: Mark Kantrowitz, You'll, Stacey MacPhetres, Andrew Pentis, Ryan Wangman, Read Organizations: Parent PLUS, Department of Education, Bright, Borrower's, Loan, Federal, Aid, Finance, Northwestern University, Boston Globe Locations: Chevron
Donald Trump's Mar-a-Lago documents trial has been delayed indefinitely. AdvertisementThe judge overseeing Donald Trump's criminal case over his holding onto secret government documents following his presidency delayed the trial indefinitely — giving him the chance to get rid of the charges if he wins the 2024 election. Another criminal case overseen by Smith, in a federal court in Washington, DC, was previously scheduled for March 4. In that case, Smith alleged Trump broke criminal laws through his efforts to overturn the results of the 2020 election. Trump's attorneys have also made immunity arguments in the classified documents case.
Persons: Donald Trump's Mar, It's, , Donald Trump's, Aileen Cannon, Cannon —, Trump, Carlos de Oliveira, Waltine Nauta —, Jack Smith, de Oliveira, Trump's, Stormy Daniels, — Trump, Smith, MANDEL NGAN, Fani Willis, Juan Merchan, Todd Blanche, Blanche, Merchan, reconvene, Cannon Organizations: Trump, Service, Nauta, Republican, Justice Department, US, Getty Images Locations: Lago, Manhattan, Washington ,, AFP, Getty Images Fulton County, Georgia, York, Florida, New York
Washington CNN —President Joe Biden on Tuesday aims to issue a clarion call to fight a swiftly rising tide of antisemitism amid a precarious moment in Israel’s war against Hamas and as protests have swept American college campuses, laying bare Biden’s trouble with some young voters. Biden’s longtime and stalwart support for Israel has come under intense pressure as the humanitarian crisis in Gaza grows. The president plans to address the long history of antisemitism and issue what one senior administration official familiar with the remarks described as a “call to action” on combatting antisemitism. The protests are not expected to be a major part of the speech, the official added. However, Biden does not intend to use his speech on Tuesday to delve into Middle East policy or the current situation in Israel or Gaza.
Persons: Joe Biden, Biden’s, Israel, Biden, White, “ recommit, ” Biden, Karine Jean, Pierre, ” Jonathan Greenblatt, John Kirby, Biden “, Benjamin Netanyahu, it’s, Jean, , , Miguel Cardona, Doug Emhoff, Yom HaShoah, Donald Trump’s, Trump, Adolf Hitler “, CNN’s Dana Bash Organizations: Washington CNN, US, White, CNN, Defamation League, ADL, Hamas, National Security, Qatari, White House, Education’s, Civil, Department of Homeland Security, DHS, Department’s Office, Institute of Politics, Harvard University’s Kennedy Locations: Israel, Gaza, Cairo, Doha, Qatar, Gazan, Rafah, America, Poland
Young adults are throwing their support behind calls for a four-day workweek. A new national survey from CNBC/Generation Lab of 1,033 people aged 18 to 34 found that an overwhelming 81% of respondents believe a four-day workweek would boost their company's productivity, while 19% said productivity would decline. Exos, a U.S. coaching company that trains top athletes and leads corporate wellness programs, recently reported results from the first six months of an ongoing four-day workweek experiment. Other four-day workweek trials have shown similar gains. Although respondents to the CNBC/Generation Lab survey largely agreed on workweek length, they were less unified when asked about work setting.
Persons: Sen, Bernie Sanders, Mark Takano, Barry Diller, Steven Cohen, Cohen Organizations: CNBC, Representatives, IAC, New York Mets Locations: USA, U.S
The best strategy for tackling those moments of stress actually involves some preparation: Highly successful people get ahead of their unsteadiness with a key mindset shift, according to Lisa Feldman Barrett, a neuroscientist, author and psychology professor at Northeastern University. They don't see stress as something bad to be overcome, but instead as something natural that can be managed. Instead, she recommends doing exercises beforehand to practice doing what unnerves you, and to help train yourself to understand and handle the stress differently. "It's a shift from making the sensation go away to getting better at performing while I'm feeling the sensation," he said. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.
Persons: Lisa Feldman Barrett, Barrett, Wharton, Adam Grant's, Ted, Grant, speck, ted Organizations: Northeastern University, CNBC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Google CEO Eric Schmidt on AI potential: American businesses will change because of thisEric Schmidt, Schmidt Future co-founder, Special Competitive Studies Project co-fonder and former Google executive chairman and CEO, joins 'Squawk Box' to discuss the state of the AI arms race, the potential of AI technology, AI disinformation, fate of TikTok, American competition with China, and more.
Persons: Eric Schmidt, Schmidt, TikTok Organizations: Project, Google Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with former Google executive chairman and CEO Eric SchmidtEric Schmidt, Schmidt Future co-founder, Special Competitive Studies Project co-fonder and former Google executive chairman and CEO, joins 'Squawk Box' to discuss the state of the AI arms race, the potential of AI technology, AI disinformation, fate of TikTok, American competition with China, and more.
Persons: Eric Schmidt Eric Schmidt, Schmidt, TikTok Organizations: Google, Project Locations: China
How do celebrities get their hands on museum-quality gowns?
  + stars: | 2024-05-07 | by ( Leah Dolan | ) edition.cnn.com   time to read: +12 min
But today, as more and more celebrities choose to wear vintage, the all-important stretch of red carpet has started to look more like a museum hallway. Kendall Jenner's vintage dress for the 2024 Met Gala. Mugler — the luxury French fashion house responsible for dressing Zendaya in a 30 kilogram full metal robot suit from 1995. Although interest in vintage fashion is rising amongst celebrity clients, not everyone is qualified to physically handle these pieces. John Shearer/WireImage/Getty ImagesFashion’s rat raceBut if these one-of-a-kind pieces are so fragile, and the method of their conservation so exact, how do celebrities even get their hands on them?
Persons: CNN —, Miley Cyrus, Laverne Cox, Olivia Rodrigo, Bob Mackie, , Vanessa Friedman, Cardi, Margot Robbie, Jennifer Lawrence, Mugler, Givenchy —, That’s, Kim Kardashian, Marilyn Monroe’s, Emily Ratajkowski, Versace, Zendaya, Givenchy, Kendall Jenner, Kendall Jenner's, Jamie McCarthy, Renée Zellweger, Jean Dessès, Julia Roberts, “ Erin Brockovich, Erin Walsh, Anne Hathaway, Selena Gomez, Sarah Jessica Parker, WWD, Wiktor, ” Adrian Corsin, Law Roach, Jean, Jacques Urcun, Marion Bourdée, Adrian, Julie Ann Clauss, Tom Ford, Calvin Klein, Marc Jacobs, Carolina Herrera, , John Shearer, Kylie, ” Jenner, Thierry Mugler, Couturissime, ” Bourdée, Kylie Jenner, Ripley’s, ” Mugler, won’t, Walsh, ” Erin Walsh, Valentino, Karwai Tang, We’re, Kendall, ” Corsin, hasn’t Organizations: CNN, New York Times, Givenchy, London, Publishing, Brooklyn, International Council of Museums, , New York, Hollywood, SAG, Vogue Locations: Zendaya, London, France, LA, Mugler, New York, , , New
“It was clear from the outset that The Spectator was really leading the coverage,” Summers told CNN by phone Monday. The photographs were captured by student journalists — including the cover image shot by freshman Stella Ragas — working in conjunction with New York photo director Jody Quon. Gathering reporting from campus for the issue, however, was not without its challenges for the student journalists. “There is significantly more trust of us than national outlets who parachute in and maybe don’t have the intimate knowledge,” Ramirez told CNN. In fact, when the encampments first propped up on campus, Ramirez told CNN that the student journalists were reluctant to retire for the night.
Persons: New York CNN —, Nick Summers, Isabella Ramirez, Summers, ” Summers, Ramirez, , Stella, Jody Quon, David Dee Delgado, , Quon, , ” Quon, ” Ramirez Organizations: New York CNN, New York, Columbia University, Columbia Daily Spectator, The Spectator, New, CNN, The, Hamilton Hall, Israel, Rye, Protesters, Reuters “ Locations: New York, Morningside, Rye Spaeth, Hamilton Hall
A report on workplace culture at the Federal Deposit Insurance Corporation released on Tuesday revealed a broad, yearslong pattern of sexual harassment, discrimination and abuse of mostly women and members of minority groups by senior officials. The findings are likely to lead to another potentially bruising round of questions for the agency’s chair, Martin Gruenberg, who is scheduled to testify in Congress later this month. It described “fiefdoms” in regional offices, where senior managers protected other longtime employees from potential consequences stemming from more junior employees’ claims of mistreatment. Examples of the behavior, including senior examiners texting junior women pictures of their genitalia or taking them to brothels, were first reported by The Wall Street Journal in November. Tuesday’s report was the result of an independent investigation by Cleary Gottlieb, which was hired by a special committee created by the agency’s board after The Journal’s report.
Persons: Martin Gruenberg, , , Cleary Gottlieb, , Tuesday’s Organizations: Federal Deposit Insurance Corporation, Wall Street
Nauta testified to a grand jury two months before the August 2022 search about boxes he took from Mar-a-Lago’s storage room in January 2022. Nauta grand jury testimony could be used at trial against TrumpThe newly unredacted Mar-a-Lago search warrant affidavit and Nauta’s grand jury testimony were included in court filings as part of several challenges Trump and Nauta are making against Smith’s case. 03:33 - Source: CNNNauta’s grand jury testimony could become a notable part of an eventual trial against Trump. Even if Nauta refuses to testify, prosecutors could seek to use his grand jury statements about Trump in their presentation to a jury. According to the affidavit, the Justice Department sought from the Trump Organization Mar-a-Lago’s surveillance footage in the immediate days after Nauta’s grand jury testimony.
Persons: Donald Trump’s, Trump, Walt Nauta, Nauta, ” Nauta, Jack Smith, Carlos De Oliveira, vindictively, Lago, FPOTUS, , Stanley Woodward, Aileen Cannon, pushback, CNN’s Hannah Rabinowitz Organizations: CNN, National Archives, Mar, FBI, Trump, Archives, Justice Department, Trump White House, NARA, Trump Organization, US Locations: Lago, Florida, Mar, Nauta, United States
Now, French bakers have taken the record for the longest baguette ever made. The lengthy loaf was made in public on Sunday during the Suresnes Baguette Show at the Terrasse du Fécheray observation deck in France’s suburban western commune of Suresnes, near Paris. A Guinness World Records (GWR) judge was there to approve the record, according to Reuters. French bakers try not to crack the baguette when it comes out of a large rotating oven. The attempt to beat the record for the world’s longest baguette was to give homage to that recognized heritage and culture, according to the Suresnes release.
Persons: CNN —, Joanne Brent, Stephanie Lecocq, Nutella, ” Suresnes, Guillaume Boudy, , ” Boudy, Dominique Anract, baguettes, Organizations: CNN, Guinness World Records, Records, Reuters, GWR, Guinness, French National Confederation, Olympic, bravo, Heritage Locations: Suresnes, Paris
CNN —A 10-month-girl police said was abducted from a New Mexico park Friday after the death of her mother and another woman has been found and a suspect is in custody, the FBI announced Monday morning. The bureau did not provide further details on Eleia Maria Torres’ condition and the suspect was not immediately named. The women, both 23, were found with “apparent gunshot wounds” on the ground near a minivan, the police statement said. At the scene, officers also discovered “an infant car seat, an infant stroller and a small baby bottle at the scene,” and began searching for a young child, police said. “Through interviews with family members, investigators learned Samantha Cisneros was the mother to the young female child found at the scene and was also the mother to a 10-month-old child, Eleia Maria Torres,” the news release said.
Persons: Eleia Maria Torres, Samantha Cisneros, Eleia’s, Taryn Allen, stroller, , , Clovis, ” Raul Bujanda, CNN’s Christine Sever Organizations: CNN, FBI, Eleia, Sunday . Police, FBI Albuquerque Division Locations: New Mexico, Covis, Albuquerque, Amarillo , Texas
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