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☆ Can China play a role in avoiding an all-out war in the Middle East?
▼ + stars: | 2024-04-15 | by ( Nectar Gan | Simone Mccarthy | ) edition.cnn.com time to read: +9 min

“China calls on the international community, especially countries with influence, to play a constructive role for the peace and stability of the region,” the ministry added. The decision by Iran’s leaders to strike at Israel directly has pushed the shadow war between the two regional foes into the open. That’s why China does not condemn Iran,” said Yun Sun, director of the China program at the Washington-based Stimson Center think tank. Beijing meanwhile denounced the strike as a “barbarian act,” with protests erupting outside US diplomatic compounds across China. “For China, had US applies enough pressure on Israel, neither the Israeli attack nor the Iranian retaliation would have taken place.

Persons: Beijing’s, Antony Blinken, Wang Yi –, Saudi Arabia –, ”, William Figueroa, Figueroa, “, Xi Jinping, China’s, Iran ”, Israel, ” Figueroa, Wang Wenbin, Wang, Yun Sun, Bill Clinton, Jiang Zemin, ” Sun, Kishida, Jaishankar, Israel Katz, Hossein Amirabdollahian Organizations: Hong Kong CNN, Foreign Ministry, Washington, US State Department, Hamas, Beijing, Tehran, University of Groningen, Global Security Initiative, CNN, Chinese Foreign Ministry, Stimson, NATO, Embassy, Japan’s, Israel’s Foreign, Iranian Locations: China, Hong Kong, East, Iran, Israel, Beijing, Gaza, Tehran, Damascus, Republic, Turkey, Saudi Arabia, Palestinian, Red, Tehran –, Netherlands, underinvestment, United States, Israeli, Syria, Quds, Washington, Belgrade, That’s, Yugoslavia, Asia, ”, India, Philippines, Malaysia, Indonesia

☆ This Prosecutor Pledged to Change George Floyd’s City. Her Critics Are Circling.
▼ + stars: | 2024-04-14 | by ( Ernesto Londoño | ) www.nytimes.com time to read: 1 min

Mary Moriarty, a former public defender, became Minneapolis’s top prosecutor last year after persuading voters shaken by the murder of George Floyd that she could improve public safety by reining in police misconduct and making the criminal justice system less punitive. Turbulence quickly followed. The attorney general of Minnesota, Keith Ellison, a fellow Democrat who had endorsed Ms. Moriarty as she campaigned to be Hennepin County attorney, took over a murder case from her office last spring after concluding that it had offered an overly lenient plea deal to a juvenile defendant. By fall, two judges took the unusual step of rejecting plea deals offered by Ms. Moriarty’s office, deeming them too permissive for violent crimes. After Ms. Moriarty this year charged a state trooper with murder in the shooting of a motorist who drove away during a traffic stop, criticism mounted.

Persons: Mary Moriarty, George Floyd, Keith Ellison, Moriarty, Ms Locations: Minnesota, Hennepin County

☆ Ford stock can go higher by taking a page of out Detroit rival GM's playbook
▼ + stars: | 2024-04-12 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

General Motors is buying back a ton of stock; Ford, so far, not so much. Before the buyback disclosure late this year, Ford had been down 10%, which was less than GM's 14% decline. In 2023, Ford spent $5.33 billion on dividends and stock repurchases, with only 6.3% of that total on buybacks. In guidance alongside Q4 numbers, Ford said it expects warranty costs for full-year 2024 to be flat year over year. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Ford, Jim Cramer, General Motors, Adrian Yanoshik, Jim, Morgan Stanley, Adam Jonas, Jonas, BEV, John Lawler, Redburn's Yanoshik, Jim Cramer's, Paul Hennessy, LightRocket Organizations: General Motors, Ford, GM, CNBC, General, United Auto Workers, Capital, Renaissance, Getty

☆ Biden’s manufacturing industry is expanding, but that could be bad for inflation
▼ + stars: | 2024-04-07 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

But a resurgence in the industry could complicate the Federal Reserve’s ongoing inflation fight, either delaying the first interest rate cut or resulting in fewer cuts this year, some economists say. Interest rates have been at a two-decade high since July, after the Fed raised rates aggressively over the prior year and a half. The economy picking up further strength would spook Wall Street because of what it means for interest rates — and some manufacturers say they’re optimistic about the future. The Bank of Canada announces its latest interest rate decision. China’s National Bureau of Statistics releases March inflation data.

Persons: Joe Biden, ”, Tom Barkin, “, Mary Daly, ” Daly, Jerome Powell, Neel Kashkari, ” Kashkari, ” Richard de Chazal, Blair, they’re “, Amazon’s, It’s, Ramishah Maruf, Amazon, haven’t, Read Organizations: Washington CNN, Institute for Supply Management, Congress, Fed, ” Richmond Fed, ” San Francisco Fed, Minneapolis, Dow, Blair Equity Research, Amazon, Fresh, Delta Air Lines, US Labor Department, Index, Bank of Canada, Federal Reserve, National Bureau of Statistics, Constellation Brands, European Central Bank, JPMorgan Chase, Citigroup, State, National Statistics, The University of Michigan Locations: Richmond , Virginia, ” San, Las Vegas, India, Wells Fargo, Progressive, BlackRock

☆ Tesla can turn around its 'trainwreck' quarter if Elon Musk stops his distractions and takes back control, Wedbush's Dan Ives says
▼ + stars: | 2024-04-04 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Elon Musk could turn around Tesla's 'trainwreck into a brick wall," Wedbush's Dan Ives said. But better days ahead will hinge on Musk reining in his distractions and retaking control, Ives said. AdvertisementTesla may be able to turn things around after seeing a "nightmare" first quarter, according to Wedbush's Dan Ives. That's made the first quarter an "unmitigated disaster" for Tesla, Ives said in a recent note, also describing the last quarter as a "black eye" and a "trainwreck into a brick wall" for Tesla. In terms of 1Q, this was just a massively soft quarter," Ives said to BNN Bloomberg on Wednesday.

Persons: Elon, Wedbush's Dan Ives, Tesla, Ives, —, That's, We've, BNN, It's, Elon Musk's, Musk, Wedbush, Wells Organizations: Service, Tesla, BNN Bloomberg, Elon, JPMorgan Locations: China, Texas, Delaware, Wells Fargo

☆ Amazon’s cashier-less technology was supposed to revolutionize grocery shopping. It’s been a flop
▼ + stars: | 2024-04-03 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

But now, Amazon is walking back its “Just Walk Out” technology at its grocery stores, reining in grand promises of an automated, friction-less checkout. Customers just haven’t bought into cashier-less technology, especially in grocery stores where they purchase larger quantities and face extra tasks such as weighing produce. Customers entered Fresh stores using Amazon One palm recognition, the app or a credit or debit card. Amazon Fresh strugglesThe tech giant opened its first Amazon Fresh store in 2020, and has more than 40 locations across the US. But Amazon Fresh has faced setbacks since it debuted, including challenges getting shoppers to buy groceries in its Amazon Fresh grocery stores, and it laid off workers.

Persons: Amazon, haven’t, ”, they’ve, Andy Jassy, “ We’ve, Nathaniel Meyersohn, Moira Ritter Organizations: New, New York CNN, Amazon, Fresh, CNN, Dollar, Walmart, Costco, Foods Locations: New York, India, Washington, Chicago, Southern California

☆ Why Civil Cases Have Been More Successful Against Donald Trump - The New York Times
▼ + stars: | 2024-04-01 | by ( David Lat | Zachary B. Shemtob | ) www.nytimes.com time to read: +2 min

For months now, the country has been riveted by the four criminal cases against Donald Trump: the New York state case involving hush-money payments to an adult film star, the federal case involving classified documents, the Georgia election-interference case and the federal election-interference case. The only case with a realistic shot of producing a verdict before the election, the New York case, involves relatively minor charges of falsifying business records that are unlikely to result in any significant prison time. It’s only the civil courts that have rendered judgments on Mr. Trump. For Trump opponents who want to see him behind bars, even a half-billion-dollar hit to his wallet might not carry the same satisfaction. Although not as heralded as the criminal cases against Mr. Trump, civil suits have proved effective in imposing some measure of accountability on him, in situations where criminal prosecution might be too delayed, divisive or damaging to the law.

Persons: Donald Trump, It’s, Trump, Letitia James, Jean Carroll, Jonathan Mahler Organizations: Mr, New, Trump Locations: New York, Georgia, York

☆ More clarity needed on future defence spending, Israel's central bank chief says
▼ + stars: | 2024-03-31 | by ( ) www.cnbc.com time to read: +2 min

Amir Yaron, governor of the Bank of Israel, speaks during an interest rates news conference in Jerusalem, Israel, on Monday, Feb. 26, 2024. Israel's central bank chief on Sunday called on the government to enact responsible fiscal policy by reining in non-defence spending to offset any further expansion in the military budget. Israel intends to add some 20 billion shekels ($5.4 billion) of spending towards defence a year going forward. Israel's economy grew 2% in 2023, with zero per capita GDP. The governor said Israel's economy entered the war with good economic fundamentals and has in the past rebounded rapidly from crises.

Persons: Amir Yaron, Israel, Yaron Organizations: Bank of Israel, Hamas, Jewish Locations: Jerusalem, Israel, Israel's, Gaza

☆ How Irish business is winning in the US: It’s not all butter and cheese
▼ + stars: | 2024-03-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Irish companies have to think about being in an Irish domestic market which is frankly, really small, or just going global straightaway. The US is particularly strong for Irish companies; the US economy has held up well. I think Irish companies are very adept at pivoting into what other other countries need and being part of the story. It seems like Irish companies are increasingly becoming job creators in the US. Glanbia Foods, an Irish company that manufactures American-style cheese, now produces one in four slices of cheese consumed in the US.

Persons: Bell, Leo Clancy, Joe Biden, we’ve, it’s, that’s, That’s, We’re, It’s, We’ve, Tesla, Elon Musk’s Tesla, Wells, Colin Langan, ” Langan, Elisabeth Buchwald Organizations: CNN Business, Bell, New York CNN, European Union and International Monetary Fund, Enterprise Ireland, Patrick’s, Entrepreneurship, Federal Reserve, Companies, UBS, Tesla, NAR, National Association of Realtors Locations: New York, Ireland, United States, Jefferson , Wisconsin, America, Irish, Europe, Washington, We’re, automaking, Wells Fargo

☆ Congress may be going after the wrong social network
▼ + stars: | 2024-03-16 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +6 min

Chew, meanwhile, clapped back, “American social companies don’t have a good track record with data privacy and user security. But if lawmakers were serious about protecting the digital data of millions of American social media users, targeting TikTok alone is a limited way to achieve this goal. Separately, US intelligence authorities have said that Russian operatives were able to exploit US-based social media platforms including Facebook and Twitter as part of an election meddling campaign in the lead-up to the 2016 US presidential vote. Sherman said he thinks some lawmakers are raising important national security concerns regarding TikTok. Ultimately, Jameel Jaffer, the executive director of the Knight First Amendment Institute at Columbia University, called the bill a “missed opportunity” for Congress to take real action regarding their concerns about US user data.

☆ The NAR settlement could slash home prices for many Americans
▼ + stars: | 2024-03-16 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

The settlement, which is still subject to a judge’s approval, will eliminate the long-standing standard 6% commission paid by the seller. The NAR, which represents more than 1 million agents, declined to comment on whether home prices will fall as a result of the settlement. For instance, listing agents will likely continue to tell sellers that their homes will be sold faster if they pay for the buyer’s agent’s fee. That would increase how much they’re compensated since the total fee ends up getting split between listing agents and the buyer’s agents. NAR settlement or not, factors such as housing inventory, mortgage rates and consumer savings rates will “play much larger roles,” said Brobeck.

Persons: won’t, Kevin Sears, ”, Stephen Brobeck, ” Brobeck, “, ” Tomasz Piskorski, Piskorski Organizations: New, New York CNN, National Association of Realtors, NAR, Consumer Federation of America, CNN, Columbia University Locations: New York, Missouri

☆ Factbox-Fewer Submarines, More Police Detectives: Highlights of Biden's Budget
▼ + stars: | 2024-03-11 | by ( March | At P.M. | ) www.usnews.com time to read: +4 min

Here are highlights of the proposal:IMMIGRATIONThe proposal includes an increase in funding for immigration-related spending as polling shows voters concerned about U.S.-Mexico border crossings by undocumented migrants. DEFENSEBiden's $895 billion national security budget calls for fewer stealthy F-35 fighter jets and Virginia-class submarines, first reported by Reuters, after a meager 1% increase allowed under caps agreed with Republicans last year left fewer than expected funds. Biden also renewed his demand for funding on border security, Israel, Ukraine, Taiwan and other national security issues that has been stalled by Republican congressional leadership for months. CRIMEThe budget allocates $1.2 billion over five years in a new violent crime reduction and prevention fund to support law enforcement agencies, helping them hire new detectives to solve homicides, expand fentanyl seizures and hire prosecutors and forensic specialists. The forecasts were set in November, and officials said the figures would be more optimistic if they were fixed today.

Persons: Joe Biden, Biden, Trevor Hunnicutt, Ahmed Aboulenein, Ted Hesson, Leah Douglas, Jonathan Oatis Organizations: WASHINGTON, Border Patrol, Reuters, Republican, Department of Health, Human Services, Department, Agriculture, Women, Federal Reserve Locations: Mexico, Virginia, Israel, Ukraine, Taiwan, U.S

☆ Trump vs. Biden: Where 2024 presidential candidates stand on Social Security, Medicare
▼ + stars: | 2024-03-11 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

It's not the first time Trump has suggested cuts to Social Security. However, such a policy would reduce the tax income Social Security and Medicare rely on. In recent interviews, Trump has mostly rejected the idea of changing Social Security. How Biden aims to strengthen Social SecurityDuring the State of the Union on Thursday, President Biden promised to protect both Social Security and Medicare from cuts. Biden calls for improving Social Security benefits, as well as Supplemental Security Income benefits, for seniors and people with disabilities, particularly those with low incomes.

Persons: Donald Trump, Joe Biden, Sen, Marco Rubio, Joe Raedle, Trump, Biden, It's Organizations: U.S, Miami - Dade Country Fair, Getty, Social Security, CNBC, Security, Fox News, Social, Union Locations: Miami , Florida

☆ AI is not ready for primetime
▼ + stars: | 2024-03-10 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +7 min

Generative AI tools, including ChatGPT, have been alleged to violate copyright. That’s not stopping Big Tech companies and AI firms, which continue to hook consumers and businesses on new features and capabilities. “Access to major generative AI systems in widespread use is controlled by a few companies,” said Venkatasubramanian, noting that these systems easily make errors and can produce damaging content. He believes bolder reforms may be necessary too, such as taxing AI companies to fund social safety nets. For now, current day generative AI users must understand the limitations and challenges of using products that are still quite far from where they need to be.

Persons: ”, Taylor Swift, Joe Biden, Mandel Ngan, That’s, OpenAI, Elon Musk, Elon Musk Gonzalo Fuentes, ” Suresh Venkatasubramanian, Venkatasubramanian, ” Arvind Narayanan, CNN he’s, Narayanan, “, ChatGPT, Bard –, haven’t, ” Gemini, Brian Fung Organizations: CNN, Chamber, Getty, Big Tech, Microsoft, Google, Reuters, Brown University, “, White, Office of Science, Technology, Management, Executive, Princeton, “ Tech Locations: Washington ,, AFP, New Hampshire

So we have to talk about the drama that has been playing out in the past week between OpenAI and Elon Musk. According to OpenAI, Elon Musk wanted majority, equity, initial board control, and to be CEO of this new for-profit subsidiary. It’s basically —casey newtonIt’s like, I’m going to find a way to follow your rule, but in the worst way possible. Like, working was one I thought that, oh, I’m going to work in this all the time. kevin roose[LAUGHS]: Well, I thought, like, I’m going to take some spatial videos.

Persons: casey newton Casey, kevin roose, casey newton, Kevin, casey newton What’s, Kevin Roose, Casey Newton, OpenAI, Will, Joanna Stern, Casey, it’s, kevin roose I’m, Elon Musk, It’s, casey newton Let’s, Elon, he’s, I’ve, casey newton What’d, there’s, you’ve, we’re, GPT, Sam Altman’s, that’s, AGI, Annie “, Sam Altman, who’s, isn’t, “, we’ve, ” casey newton Go, He’s, Ilya Sutskever, Greg Brockman, Ilya, casey newton Yes, Tesla, casey newton Well, they’ll, casey newton Oh, kevin roose It’s, don’t, kevin roose Will, casey newton Right, casey newton Mhm, kevin roose They’re, Microsoft’s Bing, Microsoft Bing, Bing, Apple, Europe — casey newton, Charles Duhigg, John Gruber, they’ve, casey newton It’d, — casey newton, they’re, They’ve, you’ll, Apple’s, casey newton It’s, I’ll, casey newton Sure, GDPR, you’re, kevin roose Really, let’s, kevin roose Casey, kevin roose —, Jonah Stern, casey newton Wow, Joanna, Let’s, kevin roose Joanna Stern, joanna, casey newton Hi, kevin roose Long, joanna stern, —, kevin roose We’re, Kara Swisher, kevin roose Don’t, I’m, casey newton Don’t, casey newton That’s, Neil Patel, Um, kevin roose That’s, kevin roose Sure, casey newton Great, KEVIN, IV, wearables, Fitbits, kevin roose Oh, hadn’t, casey newton —, casey newton I’ve, Joe Rogan Organizations: The New York Times, Elon, Apple’s, OpenAI, Microsoft, Google, Google’s, Facebook, Tesla, Big, European Union, Digital Services, Giants, Apple, Digital Markets, EU, Bloomberg, Digital, Spotify, General, Apple Vision Pro, Street, Apple Vision, Vision, New York Times, “, Housewives, Club, Ray, Tesla Chargers, Vision Pro, Apple Watch, Sony Locations: Los Angeles, Europe, what’s, Elon, OpenAI, Japan, South Korea, Turkey, United Kingdom, United States, Reddit, American, America, California, Florida, United, Mars, The

He has encouraged the team to make a concerted effort to host his events at smaller, less costly venues, according to conversations with multiple Trump advisers. Mismatched and functional is the decor of the Trump campaigns’ offices,” a senior Trump adviser told CNN. And those figures don’t even include his mounting legal bills as he faces 91 charges in four criminal indictments. This fund, which reported raising $1.5 million through the end of last year, will continue to be utilized, Trump’s advisers say. One RNC member recently authored a resolution that seeks to ban the RNC from paying Trump’s legal bills.

Persons: Donald Trump, Joe Biden, Susie Wiles, Uber, Susie, Wiles, Chris LaCivita, ” LaCivita, you’re, Trump, that’s, ”, “, Jean Carroll, CNN Trump, Trump’s, —, Michael Whatley, Lara Trump, Brian Snyder, Reuters LaCivita Organizations: CNN, Trump, Save America PAC, Make, Inc, White, Save America, Republican, GOP, Biden, Democratic National Committee, Republican National Committee, America, Patriot Legal Defense, RNC, North Carolina, Reuters Locations: New York, York, Manhattan, America, —, Durham , New Hampshire

☆ A bigger pool of American workers could continue to slow inflation even further
▼ + stars: | 2024-03-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Now, as the Federal Reserve faces the final stretch of its historic inflation battle, a bigger pool of workers could slow inflation even further. That then begs the question: How much more can better labor supply slow inflation? The US Labor Department releases January figures on job openings, quits, hires and layoffs. The US Labor Department reports the number of new applications for jobless benefits in the week ended March 2. China’s National Bureau of Statistics releases February inflation data.

Persons: Mary Daly, “, ” Sarah House, Michael Gapen, That’s, Jack Bantock, ’, ”, Richard Felton, Thomas, ’ ”, Patrick Harker, Ross, Nordstrom, Michael Barr, Campbell Soup, Foot, Jerome Powell, Loretta Mester Organizations: DC CNN, Federal Reserve, San Francisco Fed, National Association for Business Economics, Labor, CNN, Bank of America, White House’s Council, Economic Advisers, English Premier League, Chelsea, Burnley, Philadelphia Fed, Target, P Global, Institute for Supply Management, US Commerce Department, Abercrombie, Fitch, Financial Services, The Bank of Canada, US Labor Department, Broadcom, Costco, Eagle Outfitters, Potbelly, Banking, Housing, Urban Affairs, European Central Bank, Cleveland Fed, National Bureau of Statistics Locations: Washington, San, Wells, United States, London, JD.com, Kroger, Burlington, DocuSign

Elena Perova | Istock | Getty ImagesJust ahead of the holiday season, Walmart had encouraging news for inflation-weary shoppers: Prices on food and other staples were falling instead of rising. But the retail giant backpedaled this week, saying higher prices on many grocery items and household staples like paper goods have stuck. Food prices climbed 2.6%, fueled by a 5.1% jump in prices for food away from home, a category that includes restaurant meals and vending machine purchases. That gives their makers the ability to keep raising prices to mitigate higher costs, even as their volume drops. Even some of the biggest U.S. brands have signaled that consumers' tolerance of higher prices has worn thin.

Persons: Elena Perova, John David Rainey, Coke, James Quincey, Gregory Daco, airfares, Tyson, Fernando Fernandez, Arun Sundaram, Kraft Heinz, Chocolate, Hershey, Edward Jones, Brittany Quatrochi, Sundaram, Pringles, Kellanova, Heinz, Stefani Reynolds, Brad Thomas, CFRA's Sundaram, Thomas, Frederic J, Brown, Oscar Mayer, Greg Melich Organizations: Istock, Walmart, CNBC, Federal, Depot, Pew Research Center, Maine Foods, Unilever, Nestle, Bloomberg, Getty, Planters, Target, Kroger, AFP, U.S, PepsiCo, Frito, Evercore ISI Locations: Hershey , Pennsylvania, North America, Washington ,, Rosemead , California

☆ United Airlines raises checked bag fee $5, following American
▼ + stars: | 2024-02-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

United Airlines is raising the price to check bags, becoming the latest carrier this year to hike a fee that generated more than $5 billion for airlines in the first nine months of 2023 alone. A second checked bag will cost $50 at the airport, or $45 in advance, up $5 for both options. Earlier this week, American Airlines raised its fee to check a first bag on domestic flights to $35 if purchased in advance and $40 at the airport. A second checked bag will go up from $40 to $45. JetBlue and Alaska Airlines have also raised bag fees this year.

Persons: United Organizations: Airlines, American Airlines, JetBlue, Alaska Airlines, CNBC PRO Locations: North America

At one point, Mr. DeSantis lacerated Mr. Trump’s record as president, saying he had failed to deliver on many campaign promises. “I was in Congress the first two years when Trump was president,” Mr. DeSantis said. One supporter asked Mr. DeSantis if he was afraid of being marginalized by Mr. Trump. Mr. DeSantis urged caution on such news reports but appeared to address years-old bad blood between him and one of Mr. Trump’s top aides, Susie Wiles, who had once worked for Mr. DeSantis. Mr. DeSantis sounded very much like a politician still eyeing his political future, including as he talked about pressing for term limits and other national concerns.

Persons: Ron DeSantis, Donald J, Trump’s, ”, Trump, ” Mr, DeSantis, Biden, “, Mr, Donald Trump’s, Susie Wiles, he’s, Chris LaCivita Organizations: Mr, Trump, New York Times, The New York, “ Locations: Florida

☆ Tech Layoffs Scare Employees but Make Wall Street Investors Happy
▼ + stars: | 2024-02-22 | by ( Emily Stewart | ) www.businessinsider.com time to read: +5 min

It may seem counterintuitive for Wall Street to reward companies for letting people go. After all, layoffs are usually thought to be a sign that the business isn’t doing so hot. And while a lot of the layoff talk is concentrated in tech, investors were also quite pleased about job cuts at Estée Lauder . Many companies took an aggressive approach to hiring during the pandemic, particularly tech companies whose engagement boomed while everyone was stuck at home. The tech companies developing AI products are the best positioned to try them out.

Persons: Estée Lauder, ”, Scott Kessler, Goldman Sachs, Sameer Samana, moonshot, Ted Mortonson, Baird, Kessler, ” Mortonson, hasn’t, Emily Stewart Organizations: Bloomberg, Third, Companies, Wells, Investment Institute, Business Locations: Samana

President Joe Biden laid the blame for Alexei Navalny's death squarely at the feet of Russian president Vladimir Putin on Friday, saying what happened to the imprisoned opposition leader is "yet more proof of Putin's brutality." He was principled," Biden said at the White House. Navalny envisioned a different Russia – one where the rule of law is respected, and "he knew it was a cause worth fighting for – and even worth dying for," Biden said. "Make no mistake: Putin is responsible for Navalny's death. In Munich, at an international security conference, world leaders mourned the loss of Navalny and cast accusatory eyes at Putin.

Persons: Joe Biden, Alexei Navalny's, Vladimir Putin, Biden, Alexei Navalny, Putin, Navalny, Donald Trump –, Navalny –, ” Biden, Kamala Harris, Trump, Truman, Mike Pence, –, ” Pence, Mike Johnson, Navalny's, Yulia Navalnaya, ”, Alexei, he’d Organizations: GOP, White, NATO, Biden, Trump, Republican Party, House Republicans, Louisiana Republican, Republican, Senate, Republicans Locations: Ukraine, Russian, Russia, United States, Louisiana, Munich

☆ Biden administration examining role of supply chain middlemen in generic drug shortages
▼ + stars: | 2024-02-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

They are group purchasing organizations, which broker drug purchases for hospitals and other health-care providers, and drug wholesalers, which buy medicines from manufacturers and distribute them to providers. But the Biden administration is zeroing in on other players in the drug supply chain to uncover the "root causes and potential solutions" to ongoing shortages. The Federal Trade Commission on Wednesday said it is examining the role that drug wholesalers and companies that purchase medicines for U.S. health-care providers play in shortages of generic drugs, which account for the majority of Americans' prescriptions. Group purchasing organizations and wholesalers have gotten limited attention on Capitol Hill, even as reining in high drug costs has become a key priority among lawmakers in both chambers. PBMs contend that manufacturers are responsible for high drug prices, while drugmakers say rebates and fees collected by those middlemen force them to increase list prices for products.

Persons: Biden, Doug Farrar, Cencora Organizations: FTC, Department of Health, Human Services, Federal Trade Commission, Public Affairs, CNBC, HHS, Cardinal Health, Group, Capitol, CNBC PRO Locations: U.S

☆ Oil starts week lower after Israel says 'concluded' Gaza strikes
▼ + stars: | 2024-02-12 | by ( ) www.cnbc.com time to read: +1 min

Oil prices fell in early Asian trade on Monday after Israel said it had "concluded" a series of strikes in southern Gaza, slightly easing concerns about supply from the Middle East. Geo-political risks including a feared broadening of the Israel-Palestinian conflict across the region and potential oil supply disruption in the Middle East pushed prices up by about 6% last week. The Israeli military said on Monday it had conducted a "series of strikes" on southern Gaza that have now "concluded," days after Israeli Prime Minister Benjamin Netanyahu rejected a ceasefire proposal from Hamas. While supply concerns in the Middle East remained relatively heightened, news from the U.S. eased some worries. Mainland China's financial markets are closed for the Lunar New Year holiday and will resume trade on Monday, Feb 19.

Persons: Israel, Benjamin Netanyahu Organizations: Brent, U.S, West Texas, Federal Reserve Locations: Gaza, Israel, U.S, Asia, China, Hong Kong, Japan, South Korea, Singapore, Taiwan, Vietnam, Malaysia

☆ Under Bernie Sanders’s Glare, Pharmaceutical Chiefs Will Testify on Drug Prices
▼ + stars: | 2024-02-08 | by ( Noah Weiland | Rebecca Robbins | ) www.nytimes.com time to read: +1 min

The chief executives of three major pharmaceutical companies are set to appear in front of the Senate health committee on Thursday to defend how much they charge for drugs in the United States, drawing them further into a confrontation with lawmakers and the Biden administration over the cost of some of the most widely used prescription medications. The three executives scheduled to testify — Joaquin Duato of Johnson & Johnson, Robert M. Davis of Merck and Christopher Boerner of Bristol Myers Squibb — are expected to clash with the health committee’s chairman, Senator Bernie Sanders of Vermont, an independent who has made reining in drug prices a signature cause of his late-career years in Congress. Mr. Sanders plans to focus the hearing on why drug prices are higher in the United States than in other wealthy countries. His staff has singled out several widely used drugs, including Eliquis, a blood thinner made by Bristol Myers Squibb, and Januvia, a diabetes drug from Merck, that can be bought for much less in Canada and Europe than in the United States.

Persons: Biden, — Joaquin Duato, Johnson, Robert M, Davis, Christopher Boerner, Bernie Sanders of, Sanders Organizations: Merck, Bristol Myers Squibb Locations: United States, Bernie Sanders of Vermont, Canada, Europe

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