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An airplane encounterAmy and Mike met on March 23, 2006, on an airplane about to depart Los Angeles International Airport. But then Mike apologized – half jokingly, half sincere – for ruining Amy’s flight. First in the coffee line, and later as they walked through the airport, Amy and Mike continued chatting. Mike didn’t want Amy to leave, but Amy wasn’t going to abandon a great career opportunity. Later this year, Amy and Mike hope to take their kids to Japan – an 11 hour plus flight from LAX.
Persons: Amy Osmun, she’d, Mike Gilberstadt, They’d, Amy, Mike, , , wasn’t, Mike couldn’t, dietician, She’d, sauntering, Mike —, , Mike –, Mike’s, I’d, he’d, Amy marveled, Mike didn’t, Amy wasn’t, ” He’s, Amy Gilberstadt “, Valentine, Amy Gilberstadt, ” Amy, “ I’d, I’ve, I’m, “ You’re, Barbies, ‘ I’ve, ” “, Amy’s, “ We’re, they're, Kelli Gase, they’ve Organizations: CNN, CNN Travel, Los Angeles International Airport, California State University, Amsterdam Schipol Airport, LAX, Scotland, TiVo, . Locations: Amsterdam’s, Scotland, Greece, Southern California, Amsterdam, California, Mike’s, Orange County, San Diego, Venice, Italy, Ireland, Hong Kong, India, Japan, China, Australia, New Zealand, Tahiti, United Kingdom, Alaska, Vermont
“The industry is evolving,” says Desmond Cawley, hotel manager at SIRO, One Za’abeel. This kind of light therapy treatment has its roots in NASA’s experimentation with red light therapy in the 1990s to boost plant growth in space and help heal wounds in astronauts. Rebecca Cairns/CNNEven at SIRO, with all its cutting-edge tech, Cawley has observed a surge of interest in mindfulness activities like meditation. Of course, at SIRO, there’s even a high-tech alternative to this: “vibroacoustic therapy,” the sci-fi equivalent of a gong bath. Tech to help you disconnect might seem excessive, but for SIRO, the integration of health data is the future of wellness, providing guests with a data-driven, personalized wellness program.
Persons: , Desmond Cawley, SIRO, Dubai’s, Adam Peaty, Ramla Ali, Cawley, it’s, Rebecca Cairns, Boka, , Beth McGroarty, that’s, ” McGroarty, SIRO isn’t, McGroarty, , there’s Organizations: CNN, AC Milan football, Kerzner, Global Wellness Institute, bros, Equinox Locations: Dubai, Montenegro, New York City, SIRO, Cryotherapy
Saudi Arabia has not renewed a deal that ensures the use of US dollars in the oil trade. The end of this "petrodollar" agreement will dent dollar dominance, the Atlantic Council wrote. This month, Saudi Arabia did not renew a 1974 accord that mandates the exclusive use of greenbacks when selling its crude oil. What's more, US dependence on Saudi oil has slid considerably, given a historic explosion in US domestic production. "China has become Saudi Arabia's largest oil customer, accounting for more than 20% of the kingdom's oil exports.
Persons: , nonresident, Hung Tran, Tran, What's Organizations: Atlantic Council, Service, Saudi Locations: Saudi Arabia, Europe, American, China, Saudi, Beijing, Riyadh
With his two impeachments, a criminal conviction and an attempt to overturn the last election, Trump gave Biden plenty to work with. Biden has been road testing his character attacks on Trump for weeks in fundraising events and they’re now increasingly being parroted by campaign officials. Biden seeks to move the goalposts with ads during soccer tournamentThe Biden campaign is now making daily pitches to a significant corner of his coalition showing signs of stress. On Thursday, the Biden campaign turned to Hispanic voters — another key voting bloc where polls suggest he is underperforming. Biden’s character attacks on Trump represent his best attempt to remind Americans of the fateful nature of the choice they will face in November.
Persons: CNN — Joe Biden, Donald Trump, he’s, , Trump, Biden, Trump’s, it’s, Biden –, Biden’s, he’d, they’re, Bill Clinton, Hillary Clinton, He’s, Jean Carroll, Mitch Landrieu, “ Joe Biden, ” Landrieu, Manu Raju, ” Jasmine Harris, , Barack Obama, Lionel Messi Organizations: CNN, Trump, Biden, Black, Copa América, Argentina, NBC Locations: New York, Virginia, America, Black, Central Park , New York, Pennsylvania, Michigan, Wisconsin, Philadelphia, Detroit, Milwaukee, Atlanta, West, Arizona, Nevada, Georgia
Extreme heat takes toll on outdoor workers
  + stars: | 2024-06-21 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +11 min
There’s little to no escape from sweltering temperatures for construction workers like Eva Marroquin, who cleans work sites in Austin, Texas, and has worked in the industry for 17 years. Since 2010, she’s worked closely with the Workers Defense Project, an organization that advocates for protections for low-wage, immigrant workers in the Texas construction industry. Slowing down small businessesIt’s barely just now summer, and heatwaves are already slowing down small businesses, according to Homebase, which provides payroll software to more than 100,000 small businesses, covering 2 million hourly workers. “I think anything that impacts small businesses is affecting the economy as a whole,” he said, noting how small businesses account for half the jobs in the country. For herself, the high heat is more of an inconvenience; the car’s hotter and she just needs to pack some extra water.
Persons: Eva Marroquin, ” Marroquin, Christine Bolaños, she’s, Chris Lafakis, , Joshua, Gina Ferazzi, Gregory P, Casey, Jenny Schuetz, Brian Snyder, aren’t, , John Waldmann, They’re, Katie Parent, Joseph Prezioso, Greer, Denise Greer Jamerson, Norman, Greer Jamerson, you’ve, , “ It’s, it’s, Tamara Lovewell, café, panini, Tamara Lovewell “, Lovewell Organizations: CNN, Capitol, Workers Defense Project, Moody’s, Federal Reserve Bank of San, Williams College, Triple, Los Angeles Times, Environmental Protection Agency, Brookings Metro, Reuters, University of California, Stanford University, Getty, National Weather Service, Ruska Coffee Company Locations: Austin , Texas, Washington ,, Texas, Federal Reserve Bank of San Francisco, Massachusetts, Joshua Tree , California, Boston, Greater Boston, AFP, Princeton , Indiana, , Maine, United States, Caribou .
China's 618 shopping festival faced challenges, despite creative strategies to attract shoppers. Alibaba, ByteDance, and JD.com offered large discounts amid an uncertain economic environment. By one measure, 618 sales — a barometer of consumer health — fell nearly 7% year-on-year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChina's e-commerce platforms worked hard to attract shoppers during the country's annual 618 shopping festival.
Persons: JD.com, Organizations: Service, Business
We crave knowledge. Only ostriches stick their heads in the sand. We tell one another that ignorance is bliss. We even structure our societies to exclude knowledge for certain purposes. For 17 years, the military’s policy on homosexuality was “Don’t ask, don’t tell.” More recently, many colleges stopped asking for SAT and ACT scores, although some have started asking for them again.
Persons: , Organizations: Employers, ACT
Delaware and Montana are second and third in new business openings per 100,000 residents since the start of 2024. AdvertisementThe boom in business translates to 283 new businesses per 100,000 residents in Wyoming, 153 in Delaware, and 106 in Montana. Wyoming also led the nation in new business applications per capita in 2023, according to the Chamber of Commerce. Business-friendly taxationWyoming, Delaware, and Montana are all particularly attractive to new business owners due to their tax laws. AdvertisementAre you a new small-business owner in Wyoming, Delaware, or Montana?
Persons: , Louis Fed, LendingTree, Louis, EIG Organizations: Service, Business, Census, Chamber of Commerce, Fed, of Labor Statistics, Louis Fed, Tax Foundation, Washington D.C, Fortune, state's, Corporations, Economic Innovation Group Locations: Wyoming, Delaware, Montana, In Montana, New York City, San Francisco, South Dakota, Nevada, Washington, , Wyoming, West, Wyoming , Delaware
U.S. Treasury bond yields were slightly down on Friday as investors pondered the latest economic data for signs of a slowing economy. The 10-year Treasury yield was 2 basis points lower at 4.2302%. The 2-year Treasury note yield was down over 1 basis point at 4.7130%. Yields and prices move in opposite directions. One basis point is equivalent to 0.01%.
Organizations: Treasury
Burgeoning debt and deficits are threatening to make the next recession deeper while tying the hands of policymakers, according to two leading economists. The Congressional Budget Office this week revised its estimates to paint an even bleaker version of the U.S. financial picture. Teetering on trouble In fact, Rosenberg thinks the economy already is nearing or in the early stages of recession. "With budget deficits historically high relative to an economy operating at full employment, the government could be facing double-digit budget deficits when the next downturn hits." While equity markets have largely shrugged off worries over the fiscal situation, LaVorgna and Rosenberg both insist that bond investors should pay attention.
Persons: David Rosenberg, Rosenberg, Teetering, Janet Yellen, Joseph LaVorgna, Donald Trump, LaVorgna Organizations: Congressional, Rosenberg Research, Federal, CBO, CNBC, White House, Nikko Securities, National Economic Council Locations: U.S
Labour Party leader Sir Keir Starmer speaks ahead of the U.K.'s general election on July 4, 2024. The left-of-center opposition party retains a commanding lead of around 20 points over current Prime Minister Rishi Sunak's Conservatives, according to the latest YouGov poll. But who is Keir Starmer — Labour's leader and the clear favorite to become prime minister after Britain's July 4 election? Starmer also served as a human rights adviser during former Labour Prime Minister Tony Blair's Northern Ireland Good Friday Agreement. Labour leader Keir Starmer takes a selfie with students after a campaign event at Three Counties Medical School on May 29, 2024.
Persons: Sir Keir Starmer, Anthony Devlin, Rishi Sunak's, Nigel Farage's, Keir Starmer —, Starmer, Margaret Thatcher's, Tony Blair's, Jeremy Corbyn, Keir Starmer, Christopher Furlong Organizations: Labour Party, Getty, Conservative, Britain's Labour Party, Labour, Conservatives, British, National Health Service, University of Leeds, University of Oxford, Shell, Tony Blair's Northern, Service, Counties Medical School, Wealth Fund Locations: London, England, Victoria, EU, Britain
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomic slowdown going into election will warrant rate cuts, says Kyle BassKyle Bass, founder and chief investment officer at Hayman Capital Management, joins CNBC's 'The Exchange' to discuss market outlooks, the Fed's next move, and more.
Persons: Kyle Bass Kyle Bass Organizations: Hayman Capital Management
The Biden administration on Friday outlined its plans to curb new American investment in critical Chinese technology industries that could be used to enhance China’s military, further straining economic ties with Beijing at a time when trade tensions are rising. The proposed Treasury Department rules would prohibit certain U.S. investments in Chinese companies that are developing semiconductors, quantum computers and artificial intelligence systems. The Biden administration is trying to restrict American financing from helping China develop advanced technology that could be used for weapons tracking, government intelligence and surveillance. They come nearly a year after President Biden signed an executive order calling for the investment ban, which will largely affect venture capital and private equity firms that do business with Chinese companies. “This proposed rule advances our national security by preventing the many benefits certain U.S. investments provide — beyond just capital — from supporting the development of sensitive technologies in countries that may use them to threaten our national security,” said Paul Rosen, the Treasury Department’s assistant secretary for investment security.
Persons: Biden, , Paul Rosen Organizations: Beijing, Department, Treasury Locations: China
The Taylor Swift Economy Has Landed in Europe
  + stars: | 2024-06-21 | by ( Eshe Nelson | ) www.nytimes.com   time to read: +1 min
It’s not just Taylor Swift fans keeping a close eye on her Eras Tour dates. One of Europe’s most prominent economists is acutely aware that the singer is spending the summer jetting between Europe’s stadiums. Philip Lane, the chief economist at the European Central Bank, had the pop star on his mind when he spoke at an event on Monday. “You managed to say all that without saying Taylor Swift.”Ms. Swift is touring Europe this summer, bringing in her wake hundreds of thousands of Swifties spending on airfare, hotels, restaurants and friendship bracelets.
Persons: It’s, Taylor Swift, Philip Lane, , Ms, Swift Organizations: European Central Bank, Olympics, Wembley Locations: Europe, Paris, Germany
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCEA Chair Jared Bernstein: We're taking aggressive action to lower costs for AmericansJared Bernstein, President Biden’s Council of Economic Advisers chair, joins 'Squawk Box' to discuss the state of the economy, what President Biden is doing to lower the cost for living for Americans, government spending, impact on the federal budget deficit, and more.
Persons: Jared Bernstein, Biden Organizations: Biden’s, Economic Advisers
How Britain’s Labour Party Became Electable Again
  + stars: | 2024-06-21 | by ( Mark Landler | ) www.nytimes.com   time to read: +1 min
Two weeks before an election that is expected to catapult him into 10 Downing Street, the leader of Britain’s Labour Party, Keir Starmer, is tiptoeing on the campaign trail, the latest practitioner of the “Ming vase strategy.”The phrase, which refers to a politician gingerly avoiding slips to protect a lead in the polls, is credited to Roy Jenkins, a more freewheeling British politician, who likened a previous Labour candidate, Tony Blair, on the eve of his 1997 landslide, to a man “carrying a priceless Ming vase across a highly polished floor.”In truth, Mr. Starmer has been carrying the vase for a lot longer than this six-week campaign. He has nursed his party’s double-digit polling lead for more than 18 months, methodically repositioning Labour as a credible center-left alternative to the divided, erratic, sometimes extremist Conservatives. It’s the culmination of an extraordinary four-year project, in which Mr. Starmer, 61, purged his left-wing predecessor, Jeremy Corbyn, and his loyalists; went after the anti-Semitism that had contaminated the party’s ranks; and pulled its economic and national security policies closer to the center.
Persons: Keir Starmer, Roy Jenkins, Tony Blair, Starmer, Jeremy Corbyn Organizations: Downing, Britain’s Labour Party, Labour Locations: British
Harrington: Markets' torrid pace is at an inflection point
  + stars: | 2024-06-21 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHarrington: Markets' torrid pace is at an inflection pointJenny Harrington, CEO of Gilman Hill Asset Management, discusses the markets, economic data, and her top stock picks.
Persons: Jenny Harrington Organizations: Harrington, Markets, Asset Management
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market is having an 'unhealthy broadening out', says Ironsides Macroeconomics’ Barry KnappBarry Knapp, Ironsides Macroeconomics managing partner and director of research, joins 'Squawk Box' to discuss the latest market trends, state of the economy, what to make of the economic data this week, and more.
Persons: ’ Barry Knapp Barry Knapp Organizations: Ironsides
Last year, the soy milk seller made a net profit of only 209 million yuan ($29 million). And it’s still unsure how much it owes in fines, which could be potentially higher than the actual $11.7 million tax bill. Including fines, the company needed to pay a total amount of 480 million yuan ($66 million). The amounts paid vary from 8 million yuan ($1.1 million) to 310 million yuan ($43 million). It said in January that the Shenzhen government had asked for payment of 19.8 million yuan ($2.7 million) in back taxes for 2017 and 20.2 million yuan ($2.8 million) in fines.
Persons: they’ve, , Craig Singleton, Frank Tian Xie, ” Singleton, it’s, ” Bohui, Organizations: Hong Kong CNN — Authorities, Food & Beverage, Foundation for Defense of Democracies, Administration of Taxation, “ Police, Taxation, Centers ”, University of South, University of South Carolina Aiken, Ningbo Bohui Chemical Technology, Healthcare, ChinaLin Securities, Yixintang Pharmaceutical Group Locations: China, Hong Kong, Zhijiang, Hubei, Yichun, Jiangxi, University of South Carolina, , ” Beijing, Ningbo, Qinghai, Golmud, Chongqing, Shanghai, Shenzhen
US stocks moved slightly lower on Friday following a sharp reversal in tech stocks on Thursday. AdvertisementThe AI-fueled tech rally showed signs of exhaustion, with the stalwart Nvidia experiencing a near 7% swing in Thursday's trading session, rising as much as 3% before it finished the day lower by 3.5%. Other AI tech darlings saw sharp reversals and moved lower on Thursday, with those losses spilling over into Friday's trading session. There is rising inventory and a perceived drop in traffic that is recessionary in its level," GlobalData TS Lombard said on Thursday. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Friday:AdvertisementHere's what else is going on today:In commodities, bonds, and crypto:
Persons: GlobalData, Lombard Organizations: Nvidia, Dell, Broadcom, Micro, Federal Reserve Locations: Here's
Meanwhile, an average Pennsylvania family has paid almost $7,000 more "toward greedflation," Casey says. "Americans deserve to pay fair prices, and corporations must be held accountable for taking advantage of working families," he writes. NBC News has reached out to Amazon, Target and Walmart for comment. "Price increases that consumers have been confronted with have not been inflationary increases but, instead, greedflation-related increases," he writes. Amazon, Target and Walmart have each recently announced moves to lower prices for certain goods or release new value-based products.
Persons: Pennsylvania Sen, Bob Casey, Casey, Walmart's, Someone's, they're, Olivier Blanchard, Blanchard, Price, , they've Organizations: Target, Walmart, NBC News, Amazon, NBC, Financial Times, Massachusetts Institute of Technology Locations: Pennsylvania, United States
Leading economic indicators fell again in May
  + stars: | 2024-06-21 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLeading economic indicators fell again in MayCNBC's Rick Santelli reports on the latest economic data to cross the tape.
Persons: Rick Santelli
Gold prices were poised for a second consecutive weekly gain on Friday, driven by safe-haven demand amid tensions in the Middle East and rising bets that the U.S. Federal Reserve might reduce interest rates later this year. Gold prices were poised for a second consecutive weekly gain on Friday, driven by safe-haven demand amid tensions in the Middle East and rising bets that the U.S. Federal Reserve might reduce interest rates later this year. Spot gold was up 0.1% at $2,360.95 per ounce as of 0344 GMT, after hitting a two-week high in the previous session. Lower interest rates reduce the opportunity cost of holding non-yielding bullion. Spot silver fell 0.4% to $30.60 per ounce, platinum was up 0.4% at $982.45 and palladium gained 0.8% to $930.98.
Persons: Bullion, Kelvin Wong, Wong, Luca Santos Organizations: U.S . Federal, Asia Pacific, Gaza, ACY Locations: Gaza, OANDA, U.S
The S&P 500 has gone 377 days without a 2.05% sell-off. That's the longest stretch for the benchmark since the great financial crisis, according to FactSet data compiled by CNBC. Zoom In Icon Arrows pointing outwards The S&P 500 has gone 377 days without a selloff of 2.05% or more, which is the longest period since the Great Financial Crisis. Year to date, the S&P 500 is up more than 14%. Zoom In Icon Arrows pointing outwards The S&P 500 has notched the longest stretch without a 2.15% or more gain since the Great Financial Crisis.
Persons: Angela Weiss, Adam Turnquist Organizations: New York Stock Exchange, Afp, Getty, CNBC, Nvidia, LPL
Russia and Vietnam pledged on June 20, 2024 to deepen ties as President Vladimir Putin made a state visit aimed at bolstering his alliances to counter Moscow's growing isolation over the war in Ukraine. Putin and President To Lam agreed to further cooperate in education, science and technology, oil and gas exploration and clean energy. The two countries also agreed to work on a roadmap for a nuclear science and technology center in Vietnam. In Hanoi, Putin also met Vietnam’s most powerful politician, Communist Party General Secretary Nguyen Phu Trong, and Prime Minister Pham Minh Chinh, according to the official Vietnam News Agency. Putin drove to Vietnam’s Presidential Palace on Thursday afternoon, where he was greeted by school children waving Russian and Vietnamese flags.
Persons: Vladimir Putin, Lam, Gavriil Grigorov, Putin, ” Lam, , Kim Jong, Nigel Gould, Davies, , Nguyen Khac Giang, Giang, Nguyen Phu Trong, Pham Minh Chinh, Putin’s, Ridzwan Rahmat, Janes, ” Rahmat, Prashanth, Wilson, Vladimir Lenin, Trong, Nhan Dan, Joe Biden, Xi Jinping, Gould, they’ve, he’s, Parameswaran Organizations: Sputnik, Hanoi Opera, Afp, Getty, North, International Institute for Strategic Studies, Singapore’s, Yusof, Institute, Communist Party General, Vietnam News Agency, Criminal, Kremlin, U.S, Embassy, Security, NATO, Asia, Communist Party’s, Vietnam’s Communist Party Locations: Russian, Hanoi, Russia, Vietnam, Ukraine, Moscow, Asia, Pacific, Eurasia, London, British, Belarus, China, North Korea, U.S, Hague, Korea, Singapore, Soviet Union, Soviet, trickier, Washington
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