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☆ Warner Bros. Discovery and ESPN strike 5-year deal for College Football Playoff games
▼ + stars: | 2024-05-22 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Discovery has signed a five-year sublicensing deal with Disney's ESPN to broadcast first-round and quarterfinal College Football Playoff games. Warner Bros. Disney is paying about $1.3 billion per year for rights to the entire College Football Playoff. The new 12-team College Football Playoff slate debuts in December, replacing a four-team tournament that began in 2014. "It is exciting to add TNT Sports, another highly respected broadcaster, to the College Football Playoff family," Bill Hancock, executive director of the College Football Playoff, said in a statement.

Persons: Bill Hancock Organizations: ESPN, State Sugar, Texas Longhorns, Washington Huskies, Caesars, Warner Bros, Discovery, College Football, TNT, Disney, Football, TNT Sports Locations: New Orleans, LA

☆ Inquiry Seeks Source of Ketamine That Caused Matthew Perry’s Death
▼ + stars: | 2024-05-21 | by ( Matt Stevens | More About Matt Stevens | ) www.nytimes.com time to read: +1 min

The police in Los Angeles are working with the Drug Enforcement Administration to investigate the source of the ketamine that caused the death of the actor Matthew Perry in October, the authorities said on Tuesday. The inquiry began after investigators determined that ketamine, an anesthetic with psychedelic properties, was the cause of Mr. Perry’s death, Capt. Scot Williams of the Los Angeles Police Department said in a brief interview. Captain Williams said investigators would seek to discover whether the ketamine was obtained legally. TMZ reported earlier that the authorities were still looking into the source of the ketamine.

Persons: Matthew Perry, Perry’s, Scot Williams, Perry, superstardom, Chandler Bing, ”, Captain Williams Organizations: Drug, Administration, Los Angeles Police Department, TMZ Locations: Los Angeles, Los Angeles County

☆ Taking the Long Way Home From Alaska
▼ + stars: | 2024-05-20 | by ( Elaine Glusac | ) www.nytimes.com time to read: 1 min

Within months of the Pearl Harbor bombing on Dec. 7, 1941, the United States, in cooperation with the Canadian authorities, set out to build a highway from British Columbia to Alaska, then a territory and viewed as vulnerable to attack by Japan. The original 1,685-mile road took more than 10,000 soldiers less than nine months to complete. An upgraded version opened in 1948 and has been continually resurfaced and rerouted; It now measures just shy of 1,400 miles from Dawson Creek, British Columbia, to Delta Junction in Alaska, according to “The Milepost,” a guidebook to the drive. The highway formed the heart of a family road trip I took last September from Alaska to Idaho, passing through the Yukon, British Columbia and Alberta, in Canada, along the way.

Locations: United States, British Columbia, Alaska, Japan, Dawson Creek, Idaho, Yukon, Alberta, Canada

☆ Jamie Dimon says JPMorgan stock is too expensive: 'We're not going to buy back a lot'
▼ + stars: | 2024-05-20 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Tom Williams | Cq-roll Call, Inc. | Getty ImagesJamie Dimon thinks shares of JPMorgan Chase are expensive. We're not going to buy back a lot of stock at these prices," Dimon said. JPMorgan shares traded recently for around 2.4 times book value. "Buying back stock of a financial company greatly in excess of two times tangible book is a mistake," Dimon said. The JPMorgan CEO has often resisted pressure from investors and analysts that he deemed short-sighted.

Persons: Jamie Dimon, JPMorgan Chase, Tom Williams, Dimon, buybacks, Charles Peabody Organizations: JPMorgan, Banking, Housing, Urban Affairs Committee, Wall Street Firms, Cq, Inc, Getty, JPMorgan Chase, Portales Partners, Bank of America

☆ From Taylor Swift tickets to gasoline — these days everyone feels like they’re being price-gouged. Are they?
▼ + stars: | 2024-05-18 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +8 min

Taylor Swift performs onstage during "Taylor Swift | The Eras Tour" at SoFi Stadium on August 09, 2023 in Inglewood, California. At the core of the increasingly common accusation of price gouging is the sense that the consumer is being exploited. Price gouging is in the eye of the bidderGavin Roberts, chair of Weber State University’s economics department and who studies the effect of anti-price gouging laws, said the laws themselves often don’t define what price gouging is. Corporations charging as much as they can, as painful as it may be for consumers, doesn’t mean they’re necessarily price gouging, said Roberts. Steven Suranovic, an economics professor at George Washington University who has also published research on price gouging, sees it differently.

Persons: Emily Miller lucked, Taylor, Miller, Swift, ” Miller, Taylor Swift, Kevin Winter, it’s, —, Joe Biden — can’t, we’re, Gavin Roberts, Biden, ”, Biden hasn’t, ” Biden, Roberts, Steven Suranovic, Martin Shkreli, Shkreli, Price, Trent Sprague, Lyft, Uber, Travis Kalanick, It’s, ” Suranovic, Rafi Mohammed, Stefani Reynolds, Teresa Murray Organizations: New, New York CNN, CNN, Rights, Weber State, Corporations, George Washington University, Turing Pharmaceuticals, LinkedIn, O'Hare International, Chicago Tribune, Tribune, Service, Consumer, Culture, Profit, Getty Locations: New York, Pittsburgh, Cleveland, Inglewood , California, Chicago, New York City, Washington ,, AFP, US

☆ Man convicted of attacking ex-Speaker Nancy Pelosi’s husband with a hammer sentenced to 30 years
▼ + stars: | 2024-05-17 | by ( ) www.cnbc.com time to read: +2 min

David DePape, right, records the nude wedding of Gypsy Taub outside City Hall on Dec. 19, 2013, in San Francisco. DePape is accused of breaking into House Speaker Nancy Pelosi's California home and severely beating her husband with a hammer. The man convicted of attempting to kidnap then-House Speaker Nancy Pelosi and attacking her husband with a hammer was sentenced Friday to 30 years in prison. He also admitted to bludgeoning Paul Pelosi with a hammer after police showed up, saying his plan to end what he viewed as government corruption was unraveling. Defense attorneys argued DePape was motivated by his political beliefs, not because he wanted to interfere with Nancy Pelosi's official duties as a member of Congress, making the charges against him invalid.

Persons: David DePape, Gypsy Taub, DePape, Nancy Pelosi's, Nancy Pelosi, Jacqueline Scott Corley, Prosecutors, he's, bludgeoning Paul Pelosi, Paul Pelosi, Angela Chuang Organizations: San Locations: San Francisco, Nancy Pelosi's California, Berkeley, Calif

☆ Gold prices set for second weekly gain on Fed rate-cut optimism
▼ + stars: | 2024-05-17 | by ( ) www.cnbc.com time to read: +2 min

Gold prices appeared set for a second consecutive weekly gain on Friday, after recent U.S. inflation data fueled expectations that the Federal Reserve could cut interest rates this year. The dollar index was down 0.6% for the week so far, against its rivals, making gold less expensive for other currency holders. "The upward bias for gold prices may remain, with the recent run in U.S. economic data offering room for the Fed to consider earlier rate cuts in 2024 while geopolitical tensions rock on. Bullion is known as an inflation hedge, but higher rates increase the opportunity cost of holding non-yielding gold. "Gold prices may correct lower as markets look to re‑establish the historical relationship between gold and the U.S. dollar.

Persons: Yeap Jun Rong, haven't, Bullion Organizations: Co, Federal, Fed, U.S . Federal Reserve, U.S ., Commonwealth Bank of Australia Locations: Bangkok, Thailand

☆ OpenAI dissolves team focused on long-term AI risks, less than one year after announcing it
▼ + stars: | 2024-05-17 | by ( Hayden Field | ) www.cnbc.com time to read: +5 min

The news comes days after both team leaders, OpenAI co-founder Ilya Sutskever and Jan Leike, announced their departures from the Microsoft-backed startup. OpenAI's Superalignment team, announced last year, has focused on "scientific and technical breakthroughs to steer and control AI systems much smarter than us." "I joined because I thought OpenAI would be the best place in the world to do this research," Leike wrote on X. Leike wrote that he believes much more of the company's bandwidth should be focused on security, monitoring, preparedness, safety and societal impact. The update brings the GPT-4 model to everyone, including OpenAI's free users, technology chief Mira Murati said Monday in a livestreamed event.

Persons: Sam Altman, OpenAI, Ilya Sutskever, Jan Leike, OpenAI's, Leike, Altman, Sutskever, Helen Toner, Tasha McCauley, Adam D'Angelo, Ilya, Jakub Pachocki, Mira Murati, Murati Organizations: OpenAI, Hope, CNBC, Microsoft, Wired, Tuesday, Wall Street Locations: Atlanta, Leike, OpenAI

☆ Latest shipping data reveals that mid-range retail is the new consumer price sweet spot
▼ + stars: | 2024-05-17 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Almost 80% of current freight orders received for peak season are for mid-range price items, the survey shows. Similar to last year, respondents expect less consumer appetite for luxury and aspirational luxury items imported. The world's second-largest ocean freight company, Maersk, recently told CNBC it expected a "normal" peak season. "There's nothing that indicates that it would be a slower peak season or a bigger peak season," said Charles Van der Steene, president of Maersk North America, in a recent interview with CNBC. "We believe in normalized peak season.

Persons: Eric Thayer, Robinson, Kuehne, Nagel, Noah Hoffman, Hoffman, hypersensitive, Charles Van der Steene, We've, John David Rainey, Rainey, Larry, Jon Gold, Nate Herman, Biden Organizations: US, Bureau, Bloomberg, Getty, CNBC, Chain Survey, National Retail Federation, American Apparel and Footwear Association, United National Consumer Suppliers, ITS Logistics, DHL, Uber Technologies, C.H, Maersk, Walmart, Uber, International Longshoremen's Association, ILA, United States Maritime Alliance, Brands Locations: of Los Angeles, Los Angeles , California, U.S, Panama, Maersk North America, East Coast, Gulf, East, North America, West, Coast

☆ With S&P back at new highs, now come the price target and earnings revisions
▼ + stars: | 2024-05-16 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Now that the S & P 500 and most major stock market indexes are at or near historic highs, expect a raft of earnings and year-end price target revisions for the S & P 500 to be coming. First up with an upward revision was Brian Belski at BMO Capital, who Wednesday raised his year-end S & P target to 5,600 from 5,100. The median price target (half above, half below) is 5,200. Earnings for the rest of the year have been remarkably stable, but the key point is that each quarter is higher and a record for S & P 500 profits: 2024 S & P 500 quarterly earnings estimates Q2: $59.46 (record) Q3: $63.49 (record) Q4: $65.08 (record) Source: LSEG Valuations (roughly 20 times forward S & P 500 earnings) are pricey but not unreasonable given the continuing strength of the economy and the prospects of AI-boosted returns. May: market advance broadens (advance/decline line) S & P 500: near new high S & P Mid Cap: new high S & P Small Cap: highest since Dec.

Persons: Sam Stovall, CFRA, Brian Belski, Belski, Subramanian, Venu Krishna, Goldman Sachs, David Kostin, Ned Davis, Ed Clissold, Oppenheimer, John Stoltzfus, Lori Calvasina, Manish, Nicolaus, Barry Banniester, Jonathan Golub, Chris Harvey, Dubravko, Bujas, Cantor Fitzgerald, Eric Johnson, Scott Chronert, Julian Emanuel, Fundstrat, Tom Lee, Morgan Stanley, Mike Wilson, Hugo Ste, Stovall Organizations: BMO Capital, Wall, of America, Barclays, BMO, RBC, Societe Generale, UBS, Bloomberg, Citigroup, Deutsche Bank, ISI, JPMorgan, Scotiabank, @VX Locations: Wells Fargo, Marie

☆ Ukraine's getting more longe-range missiles that leave the Russians with 'nowhere to hide'
▼ + stars: | 2024-05-16 | by ( Jake Epstein | ) www.businessinsider.com time to read: +9 min

The number of missiles isn't publicly known, but ATACMS missiles average about $1.3 million each. These air-dropped missiles can fly at low altitudes to avoid detection and have been used to strike Russian naval headquarters and vehicle-repair depots in the occupied Crimean peninsula. The arrival of Storm Shadow missiles — and, several months later, ATAMCS — presented new challenges for Moscow, but Ukraine has received so few it has had to bee choosy over what to target. Indeed, Kyiv has used the American missiles in recent weeks to strike Russian airfields and troop gatherings. Missiles like ATACMS and Storm Shadow "will enable Ukraine to neutralize Russia's advantages and eventually enable them to regain the initiative," he added.

Persons: —, Ben Hodges, John Hamilton The, Jake Sullivan, Grant Shapps, Ben Stansall, Dan Rice, you've, Rice, ATAMCS —, Serhii, Hodges, Moscow's, Jack Watling, Watling Organizations: Service, US, Business, US Army, Army Tactical Missile System, White, MGM, Tactical Missile Systems, Biden administration's, Republicans, Congress, Kyiv, General Staff, Ukrainian Armed Forces, Storm, Shadow, Farnborough, American University Kyiv, Artillery Rocket Systems, Getty, Missiles, Russian Defense Ministry, Royal United Services Institute Locations: Ukraine, New Mexico, Washington, Kyiv, Ukrainian, Italy, France, Crimean, Russia, Russian, Moscow, Donetsk Oblast, Berlin, Avdiivka, Anadolu, Kharkiv

Stock Chart Icon Stock chart icon The Dow, all-timeThe average was created by Charles Dow in 1896 with just 12 industrial stocks. Paired with the Dow Jones Transportation Average , the two were collectively meant to offer a gauge for the broader economy. The sole caveat: No utility or transportation stocks are included, given the existence of the Dow Jones Utility Average and Transportation Average. 1972: Dow hits 1,000It may be hard to imagine given the recent achievement, but the Dow traded below 1,000 until the early 1970s. The Dow saw its worst year since 2008 in 2022, though 2023's rebound allowed the index to erase those losses.

Persons: Spencer Platt, Dow, Charles Dow, There's, Richard Nixon, Alcoa Esmark, Du Pont, Dow didn't, Walt Disney, Eastman Kodak Merck Alcoa ExxonMobil Phillip Morris, T General Motors Sears, Morgan, Phillip Morris, Walmart Du Pont J.P, Morgan Chase Walt, Donald Trump, General Electric Nike American Express Goldman Sachs, Morgan Chase, Johnson, Joe Biden, Trump, Goldman Sachs, Gamble Amgen, — Organizations: New York Stock Exchange, Getty, Dow Jones, Dow Jones Transportation, P Global, Dow, CNBC, General Foods, Harvester, Chevron, Procter, Gamble, Alcoa, Manville, ExxonMobil, Illinois Glass American Tobacco General Electric Procter, General Foods Sears Roebuck AT, T General Motors Texaco Bethlehem Steel, T General Motors Texaco Bethlehem Steel Goodyear Union Carbide Chevron Honeywell United Technologies Chrysler International Harvester US, Nickel Westinghouse Electric Eastman Kodak International, Woolworth, Oasis, Eastman Kodak Merck Alcoa ExxonMobil, Express General Electric Procter, Gamble AT, T General Motors, T General Motors Sears Roebuck Bethlehem Steel Goodyear Texaco Boeing Honeywell Union Carbide Caterpillar IBM United Technologies Chevron International, Walt Disney, Morgan Chase Westinghouse, Apple, Microsoft, Sears and Union Carbide, Eastman Kodak Johnson, Johnson Alcoa ExxonMobil, American Express General Electric Merck AT, T, Goodyear Procter & Gamble Caterpillar Hewlett, Packard Sears, Chevron Honeywell Union Carbide Citigroup IBM United Technologies, Walmart, Morgan Chase Walt Disney, Visa, Travelers, Nike, General Electric Nike American Express, General Electric Nike American Express Goldman Sachs Pfizer Apple Home Depot Procter, Gamble Boeing IBM Travelers Caterpillar Intel United Technologies Chevron, Morgan Chase UnitedHealth, Cisco Systems Johnson, Johnson Verizon, Cola McDonald’s, Du Pont Merck Walmart ExxonMobil Microsoft Corporation Walt Disney, Exxon Mobil, Walgreens Boots Alliance, Goldman Sachs Nike American Express Home Depot Procter, Gamble Amgen Honeywell, Apple Intel Travelers Cos Boeing IBM, Caterpillar Johnson, Johnson Verizon Chevron, Cisco Systems, Walgreens, Alliance Coca Cola Merck Walmart Dow Microsoft Walt Disney Locations: New York City, T General Motors Texaco Bethlehem Steel Goodyear, America

☆ Danaher's rally shows how sticking with a troubled stock of a good company can pay off
▼ + stars: | 2024-05-15 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Market talk : The S & P 500 and Nasdaq jumped to new intraday highs Wednesday, extending the gains from the prior session's late-day rally. In fact, the S & P 500 broke above 5,300 for the first time ever. The one thing we're staying guarded about in this rally is how overbought the stock market has become. You have to go back to last December to find a time when the S & P 500 Short Range Oscillator was this overbought. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Dow, Jan, Danaher, prudently, Cramer, we're, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Bank of America Healthcare, Disney, Cisco Systems, Walmart, Deere, Baidu, Jim Cramer's Charitable Locations: China

☆ Oil prices rise on U.S. inventories drawdown expectations, CPI focus
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: +2 min

U.S. crude oil inventories fell 3.104 million barrels in the week ended May 10, according to market sources citing American Petroleum Institute figures on Tuesday. Gasoline inventories fell by 1.269 million barrels and distillates rose by 673,000 barrels. "Expectations of another drawdown in U.S. oil inventories should support oil prices," ANZ Research said in a note. Oil prices also found support from a softer U.S. dollar and stimulus measures from China, said independent market analyst Tina Teng, with a weaker greenback making dollar-denominated oil cheaper for investors holding other currencies. "The U.S. CPI and China's economic data are key to driving oil prices for the rest of the week," she added.

Persons: David Knox, Petra Nova, Brent, Tina Teng, Teng Organizations: NGR Energy, JX Nippon Oil & Gas Exploration Corporation, WA Parish, U.S, . West Texas, American Petroleum Institute, ANZ Research, Federal, CPI Locations: NGR, Bend County, Petra, WA, China, Fort McMurray

☆ This year's biggest air battles are showing the US what it could need most in a missile war with China
▼ + stars: | 2024-05-15 | by ( Jake Epstein | Chris Panella | ) www.businessinsider.com time to read: +13 min

AP Photo/Evgeniy Maloletka, FileThe war has shown how effective air defenses can be at denying air superiority, protecting key areas, and threatening high-value aircraft, as well as the costs when capabilities are degraded. Ukraine's air defenses, like its Soviet-era S-300s and US-supplied Patriots, have defeated enemy missile and drone strikes, hindered Russian air operations, and shot down numerous fighter-bombers and other Russian planes. "Ukraine and NATO might reduce risks with a two-prong strategy of strengthening air defenses and boosting infrastructure resilience." Needing more interceptors for the PacificFrom the fights this year, the US can see how it'll need to employ air defenses in a potential showdown with China. Running out of air defenses before the enemy runs out of air threats spells trouble.

Persons: —, Bradley Martin, Evgeniy, Volodymyr Zelenskyy, Firefighters, Archer Macy, Martin, Shaan Shaikh, We've, Amir Cohen TPX, Shaikh, it's, Andy Wong, Thomas Shugart, Shugart, Joshua Smoot, Heath Collins, Navy Carlos Del Toro, Macy, Mark Wright Organizations: Service, Business, US Navy, Ukraine, AP, Patriots, Institute for, Emergency, Ministry, RAND Corporation, NATO, Western, Central Command, Combat, Navy, RAND, Patriot, US, Missile Defense, Center for Strategic, International Studies, REUTERS, China, Pentagon, Defense, Center, New, Air Force, 37th Expeditionary Bomb Squadron, Andersen Air Force Base, US Air Force, Aegis, Missile Defense Agency, Former Navy, CSIS, Pacific Missile, AP Air Locations: China, Ukraine, Israel, Navy, Russia, Congress, Avdiivka, Kharkiv, Russian, Kyiv, NATO, Yemen, Gulf of Aden, Iran, Red, Screengrab, French, Ashdod, South Korea, Japan, Guam, Beijing, New American, Gen, Kauai, Hawaii

☆ Jamie Dimon urges the U.S. to deal with its deficit sooner rather than later
▼ + stars: | 2024-05-15 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

JPMorgan Chase CEO Jamie Dimon on Wednesday urged the U.S. to reduce its fiscal deficit sooner rather than later, warning the issue will likely become "far more uncomfortable" if it continues to be overlooked. That's a lot, but obviously that drives growth," Dimon said in an interview with Sky News. So, I think America should be quite aware that we have got to focus on our fiscal deficit issues a little bit more, and that is important for the world," he added. The federal government has so far spent $855 billion more than it has collected in the 2024 fiscal year, according to the U.S. Treasury Department, resulting in a national deficit. Dimon said he hoped the U.S. government "really focuses" on reducing the deficit while still enjoying a period of robust economic growth.

Persons: Jamie, JPMorgan Chase, Jamie Dimon, Dimon, Joe Biden Organizations: JPMorgan Chase, U.S . Senate Banking, Housing, Urban Affairs, Wall, Capitol, Washington , D.C, JPMorgan, Wednesday, Sky News, U.S . Treasury Department, . Locations: Washington ,, America, U.S

☆ Sri Lanka travel visa costs doubled to $100 last month. The reason for the hike is disputed
▼ + stars: | 2024-05-14 | by ( Monica Pitrelli | Erica Lamberg | ) www.cnbc.com time to read: +3 min

The cost to obtain a short-term visa to visit Sri Lanka rose from $50 to $100 in April. In response, VFS Global said, "Visa categories were introduced as per the directives of [Sri Lanka's] Department of Immigration and Emigration (DI&E)." Both parties agreed that 30-day travel visas priced at $50 had been reinstated as of May 7. But VFS Global's fees angered many in Sri Lanka's travel industry and led to allegations of corruption by Sri Lankan opposition leaders. "The government of Sri Lanka won't be charging, but the platform … will," he said.

Persons: Harin Fernando, VFS, scammers, Fernando, — Organizations: VFS, Sri, Harin, CNBC, of Immigration, E, Sri Lanka's Ministry of Public Security, VFS Global Locations: Sri Lanka, Sri Lanka's, Sri Lankan, India, China, Indonesia, Japan, Malaysia, Russia, Thailand

☆ Trading CPI: How stocks could react to Wednesday’s inflation report
▼ + stars: | 2024-05-14 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Traders at JPMorgan broke down how they expect stocks will react to Wednesday's report, with a focus on core CPI month over month, based on six different scenarios: 40% chance — The reading rises 0.3%-0.35%: This is the most likely outcome, per JPMorgan traders. S & P 500 moves could range between a 0.5% loss and a 1% gain. 10% chance — Core inflation climbs more than 0.4%: The S & P 500 would drop 1.75% to 2.5% under such a hot report, JPMorgan traders think. 7.5% chance — Core CPI gains 0.2%-0.25%: A decline in housing cost increases along with lower core goods prices could make this outcome possible. It would also send the S & P 500 up 1.5% to 2%, JPMorgan traders said.

Persons: Dow Jones, Defensives outperforming Organizations: CPI, Traders, JPMorgan, of Labor Statistics

☆ JPMorgan's trading desk lays out 6 scenarios for tomorrow's inflation report, and how the stock market will react to each of them
▼ + stars: | 2024-05-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

The Wednesday release of the April CPI report has the potential to shake up the stock market. A cool inflation report would bode well for interest rate cuts from the Fed and vice versa if it's hotter than expected. JPMorgan laid out six scenarios for April CPI and how the stock market could react to each. The coming inflation report is set to market-shaking because it will help investors determine when the Federal Reserve might move forward with interest rate cuts. At the start of the year, the market was pricing in as many as seven interest rate cuts, but that has dwindled to just two rate cuts before year-end.

Persons: bode, —, Defensives outperforming, JPMorgan's Andrew Tyler, Tyler, Immaculate Disinflation Organizations: Fed, JPMorgan, Service, Federal Reserve, China PPI Locations: China

☆ Top Republican donors fund group doxxing pro-Palestinian college students
▼ + stars: | 2024-05-13 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

The contributors listed on the tax return include billionaire Republican megadonor Jeff Yass, who Accuracy in Media said gave it $1 million. The family foundation of shipping supply magnate Richard Uihlein is also identified on the tax return, which says the Ed Uihlein Family Foundation gave $10,000. According to its tax return, Accuracy in Media said it received $15,000 from the Coors brewing family's charitable foundation. But AIM president Adam Guillette told CNBC Yass had been misidentified, and he did not give to the organization. Nonprofit groups are not required to release their donors' names publicly, but they are required to report to the IRS the names of donors who gave $5,000 or more.

Persons: Claudine Gay, Pat Greenhouse, Jeff Yass, Richard Uihlein, Ed Uihlein, Milstein, Adam Milstein, Adolph Coors, Peter H, Janine, John Harvard, Joseph Prezioso, Adam Guillette, Guillette, Phil Headley, Uihlein, Israel, Ben Curtis Organizations: Harvard, Harvard University, Boston Globe, CNBC, Media, Foundation, Milstein Family Foundation, Internal Revenue, Coors, Adolph Coors Foundation, Molson Coors, Susquehanna International Group, Pro, Harvard University in, Afp, Getty, IRS, CNBC Yass, JBS, Company, AIM, Nonprofit, Independent Women's, South, IWF, Amazon, Project Veritas, Harvard College Locations: Yass, Uihlein, Harvard University in Cambridge , Massachusetts, South Carolina, Israel, Gaza, Harvard University in Cambridge

☆ Facing an Endless Barrage, Ukraine’s Air Defenses Are Withering
▼ + stars: | 2024-05-13 | by ( Josh Holder | Constant Méheut | ) www.nytimes.com time to read: +13 min

Facing an Endless Barrage, Ukraine’s Air Defenses Are WitheringThis is what a year of Russian missile strikes on Ukraine looks like. Ukrainian air defenses used to intercept most missiles, but in recent months, more and more have made it through. Ukraine has made increasingly desperate pleas for more air defenses from its Western allies. But it could be months before enough weapons arrive to significantly bolster Ukrainian air defenses. Ukrainian air defenses downed the first seven — but had no choice but to let the next four pass, he said.

Persons: Jan, Volodymyr Zelensky, “, ”, Tom Karako, Maj, Ilya Yevlash, Konrad Muzyka, Odesa, Yevlash, Justin Bronk, Mr, Bronk, Barber Organizations: Russian, New York Times, Ukrainian Air Force, Patriot, United, Kremlin, PBS, Missile Defense, Center for Strategic, International Studies, Ukrainian Air, Patriots, Rochan Consulting, Kyiv Kharkiv Dnipro Odesa, Kyiv Kharkiv Dnipro Odesa Kyiv, Kyiv Kharkiv Dnipro Kyiv, Royal United Services Institute Locations: Russian, Ukraine, Russia, United States, Kyiv, Ukrainian, Washington, Poland, Dnipro, Zaporizhzhia, Kharkiv, Odesa, Dnipropetrovsk, Texas, London

☆ The rule capping credit card late fees at $8 is on hold — here’s what it means for you
▼ + stars: | 2024-05-10 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

The U.S. banking industry won a key victory in its effort to block the implementation of a Consumer Financial Protection Bureau rule that would've drastically limited the fees that credit card companies can charge for late payment. The CFPB estimates that the rule would've saved American families $10 billion a year in fees paid by those who fall behind on their bills. It would've capped late fees that are typically $32 per incident to $8 each and limited the industry's ability to hike the fees. "Consumers will shoulder $800 million in late fees every month that the rule is delayed — money that pads the profit margins of the largest credit card issuers," a CFPB spokesman told CNBC on Friday. The CBA said it will continue to press its case in the courts on why the CFPB rule should be "thrown out entirely."

Persons: Rohit Chopra, Mark Pittman, would've Organizations: Consumer Financial Protection Bureau, Banking, Housing, Urban Affairs Committee, Washington , D.C, Financial, Bureau, Northern, Northern District of Texas, U.S . Chamber of Commerce, U.S, CNBC, Consumer Bankers Association, District, CBA Locations: Washington ,, U.S, Northern District

☆ Here are Thursday's biggest analyst calls: Apple, Sunrun, Costco, Arm, Fox, Robinhood, Airbnb & more
▼ + stars: | 2024-05-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Goldman Sachs reiterates Sunrun as buy Goldman said it's sticking with its buy rating following earnings on Wednesday. " JPMorgan reiterates SolarEdge as overweight JPMorgan said it's sticking with its overweight rating following earnings on Wednesday. " Citi reiterates Airbnb as buy Citi said it's standing by its buy rating on shares of Airbnb following earnings on Wednesday. JPMorgan reiterates Instacart as overweight JPMorgan said it's sticking with its overweight rating on shares of Instacart following earnings on Wednesday. Bank of America reiterates Apple as buy Bank of America said it's sticking with its buy rating following data showing App Store strength.

Persons: Goldman Sachs, Sunrun, Goldman, JPMorgan, SEDG, Shopify, Redburn, Mizuho, Robinhood, Airbnb, Davidson downgrades TripAdvisor, Raymond James, Fox, Cantor Fitzgerald, Cantor, EVGO, it's, Wolfe, Skyworks, SWKS, we're Organizations: JPMorgan, Bloomberg, Holdings, Deutsche Bank, Emerson, Deutsche, Citi, Bank of America, Fox, of America, Solutions, Barclays, UBS, Costco, Apple Locations: EBITDA

☆ Dollar holds its ground as key inflation data looms
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: +2 min

U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on Dec. 15, 2023. Against the Japanese yen, the dollar slowly inched up after it fell more than 3% last week, its biggest weekly percentage drop since early December 2022. Japan's top currency diplomat Masato Kanda on Thursday reiterated a warning that Tokyo is ready to take action in the currency market. The dollar index rose to 0.05% to 105.55, while the Japanese yen was mostly flat at 155.59 per greenback. The BOE is likely to take another step towards its first interest rate cut in four years as inflation falls.

Persons: Masafumi Yamamoto, Masato Kanda, Susan Collins, Sterling, BOE, bitcoin Organizations: Federal Reserve, Bank of, Mizuho Securities, Traders, PPI, Fed Bank of Boston, European Central Bank Locations: Buenos Aires, Argentina, Japan, U.S, United States, Tokyo, —

☆ Shohei Ohtani’s former translator to plead guilty to transferring $17 million from MLB star’s bank account
▼ + stars: | 2024-05-08 | by ( David K. Li | Madeline Morrison | ) www.cnbc.com time to read: +2 min

Shohei Ohtani answers questions and Ippei Mizuhara translates during the Shohei Ohtani-Los Angeles Dodgers press conference at Dodger Stadium in Los Angeles on Dec. 14, 2023. The former translator of Los Angeles Dodgers superstar Shohei Ohtani has agreed to plead guilty to illegally transferring $17 million out of the baseball phenom's account without his knowledge, authorities said Wednesday. Ippei Mizuhara, 39, will plead guilty to single counts of bank fraud and subscribing to a false tax return, according to federal prosecutors in Southern California. "Unable to pay his gambling debts, Mizuhara orchestrated a scheme to deceive and cheat the bank to fraudulently obtain money from" Ohtani's account, according to a statement by prosecutors. Mizuhara used Ohtani's password to get to the player's bank account, without the player's knowledge or permission, prosecutors said.

Persons: Shohei, Shohei Ohtani, Ippei Mizuhara, Martin Estrada, Mizuhara, —, Ohtani Organizations: Los Angeles Dodgers, Dodger, Los Angeles Angels Locations: Los Angeles, Southern California

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