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☆ How the Christ Redeemer statue in Rio de Janeiro became the symbol of Brazil
▼ + stars: | 2024-06-15 | by ( Julia Buckley | ) edition.cnn.com time to read: +13 min

Perched on the Corcovado – a 2,300-foot-high granite outcrop looming above the city – the Cristo Redentor (Christ Redeemer) statue sweeps its arms out in a warm embrace, welcoming visitors to the city of samba. “It is he who finds me when I arrive in Rio.”For over a century, the statue has been a symbol of Rio de Janeiro. Christ Redeemer bags are his top sellers, tied with those sporting the Sugarloaf Mountain. Deemed one of the seven modern wonders of the world, the Christ Redeemer is Rio’s most visited attraction, says tour guide Cristina Arroio. Maybe that’s the ultimate miracle of the Christ Redeemer.

Persons: ”, Gilson Martins, Michelle Obama, Heitor da Silva Costa, Jesus teetering, Paulo Vidal, it’s, Vidal, Instituto Moreira Salles, Jesus Christ, Da Silva Costa –, –, Carlos Oswald, Paul Landowski, Da Silva Costa, Soapstone, Márcia Braga, Work, IPHAN, It’s, Matthew Stockman, Gilson Martins Braga –, “, Braga, ” Gilson Martins, ’, Emmanuele, Tom Jobin, “ Da, O, que lindo, ” Martins, ’ ”, Francesco Perrotta, Lina Bo Bardi, Corcovado, Mauro Pimentel, Cristina Arroio Organizations: CNN, Instituto, Nacional, Historical, Heritage, UNESCO, “, Guanabara ”, cariocas, Bosch, Getty Locations: Rio de Janeiro, Rio, Brazil, Calvary, Polish, Latin America, steatite, Minas Gerais, Braga, Ipanema, Guanabara, ” Rio de Janeiro, AFP

☆ A famed economist who called the 2008 recession shares 3 ways stocks resemble some of the biggest bubbles in history — and warns 2 'bona fide' recession signals showed up in May's jobs data
▼ + stars: | 2024-06-15 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Investors are currently reveling in the 'better', as an ongoing eight-month melt-up once again pushed the S&P 500 to fresh highs this week. But sooner or later, the 'worse' will come, warns David Rosenberg, the founder of Rosenberg Research, who famously called the 2008 recession while working as Merrill Lynch's chief economist. AdvertisementAnother sign the market is out over its skis is the performance divergence between the market cap-weight and the equal-weighted S&P 500 indexes. On June 12, the Dow underperformed the S&P 500 by 0.94%, one of only 71 trading days since 1982 where that's happened, according to Rosenberg's technical analysis consultant, Walter Murphy. AdvertisementIn addition to concerning market technicals, fundamentals could also be in a troubling place in the form of labor market weakness, Rosenberg said.

Persons: —, David Rosenberg, Merrill Lynch's, Rosenberg, Bob Farrell, Walter Murphy, Murphy, — Rosenberg, it's, Louis Fed, Piper Sandler Organizations: Service, Rosenberg Research, Business, Tech, Dow Jones, Dow, Nvidia, Microsoft, Apple, Federal Locations: lockstep

☆ Jared Kushner's post-White House deal-making included badly timed bet on Amazon aggregator
▼ + stars: | 2024-06-14 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +16 min

Kushner started Affinity in 2021, shortly after leaving his advisory role in the White House alongside his wife, Ivanka Trump. Neumann, who was ultimately ousted from WeWork by top SoftBank execs, introduced Kushner to Unybrands early the following year. Affinity's investment in Unybrands, which hasn't previously been reported, was one of the private equity firm's earliest deals. Following a continued slide, the company laid off roughly 10% of its staff in November 2022, according to people familiar with the matter. The House Oversight Committee launched an investigation into the investment in 2022, looking into whether Kushner's financial interests influenced Trump's foreign policy.

Persons: Jared Kushner, Alex Brandon, Kushner, Weeks, Ivanka Trump, Trump, Saudi Crown Prince Mohammed bin Salman, Jamal Khashoggi, WeWork, Adam Neumann, Neumann, Unybrands, hasn't, —, Catterton, Jason Somerville, Somerville, it's, didn't, headcount, Donald Trump, Gary Cohn, Crown Prince, Mohammed bin Salman, Jonathan Ernst, Crown Prince Mohammed bin Salman, Carolyn Maloney, Ron Wyden, Kushner didn't, Ulrich Kratz, Goldman Sachs, Kratz, Kushner's, Ian Brekke, Asad Naqvi, Bret Pearlman, Roger McNamee, Max Fink, Neumann's, Brekke, Naqvi, Pearlman, Fink, Shahar Azran, Eugen Miropolski, Robyn Laguette, Mark Goldfinger, Joe Biden, Lex, Jeff Bezos, Sam Altman, Ye, I've Organizations: U.S . Capitol, Capitol, Reuters, Affinity Partners, Companies, White House, Affinity, Saudi Crown, Unybrands, WeWork, CNBC, Amazon, BlackRock, Khosla Ventures, GW Partners, Saudi Arabia's Public Investment Fund, United Arab, Saudi Arabia's, Crown, Ritz Carlton Hotel, Saudi, Republicans, Crayhill Capital Management, Barclays, Goldman, Kushner, Investments II, Blackstone, Partners, Financial Services, CNBC it's, Israeli American Council, IAC, Getty, Kanye Locations: Washington, Amazon's, South Florida, Miami, Silicon Valley, Saudi, Saudi Arabia, Unybrands, United Arab Emirates, Qatar, Riyadh, Yemen, American, Austin , Texas, Gulf, Israel

☆ Solar storm hits Mars, creating planet-engulfing auroras, NASA says
▼ + stars: | 2024-06-14 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

CNN —When the sun unleashed an extreme solar storm and hit Mars in May, it engulfed the red planet with auroras and an influx of charged particles and radiation, according to NASA. Solar radiation hits MarsThe most extreme storm occurred on May 20 after an X12 flare released from the sun, according to data collected by the Solar Orbiter spacecraft currently studying the sun. The Curiosity rover, currently exploring Gale Crater just south of the Martian equator, took black-and-white images using its navigation cameras during the solar storm. But Mars lost its magnetic field billions of years ago, which means the planet has no shield from incoming energized solar particles. By tracing the data from multiple Martian missions, scientists were able to watch how the solar storm unfolded.

Persons: Gale, “, ”, Don Hassler, ” Auroras, Mars, Deborah Padgett, MAVEN, Christina Lee Organizations: CNN, NASA, Solar Orbiter, Goddard Space Flight, Mars, Caltech, JPL, Southwest Research, Exploration, Jet Propulsion Laboratory, University of California, Space Sciences Laboratory Locations: Northern California, Alabama, Greenbelt , Maryland, Boulder , Colorado, Pasadena , California

☆ Fears are rising ocean freight rates may surpass $20,000 with no relief for global trade into 2025
▼ + stars: | 2024-06-13 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

Goetz Alebrand, head of ocean freight at DHL Global Forwarding Americas, said he is not optimistic freight rates will decline anytime soon. "It is unlikely that the situation will resolve itself soon and [ocean freight] rate levels might not ease up before Chinese New Year," Alebrand said. Air freight prices and demand are going higher According to freight intelligence firm Xeneta, China to North America air freight spot rates increased 43%, to $4.88 per kilogram, year-on-year in May. According to ocean freight data from FreightWaves SONAR, container bookings and freight orders from shippers to the ocean carriers are down 48% month-over-month. Xeneta data tracking ocean freight rates from the Far East to the U.S. East Coast, West Coast and Gulf Coast ports shows the historic run.

Persons: Joe Giddens, Paul Brashier, Brashier, Goetz Alebrand, Alebrand, Alan Murphy, Murphy, Peter Boockvar, Boockvar, We've, Nate Herman, Xeneta, Daniel Ives, Niall van de, van de, Good Hope Organizations: Federal Reserve, CNBC, ITS Logistics, DHL Global, Intelligence, Defense Intelligence, U.S ., Bleakley Financial, American Apparel and Footwear Association, Global, ", Apple, Wedbush Securities, Trade, Good Locations: Asia, Europe, Sea, Red, Africa, Shanghai, Rotterdam, Genoa, U.S . West Coast, East Coast, U.S, China, North America, U.S . East Coast , West Coast, Gulf Coast

☆ El Niño is dead. Here’s what to expect in the coming months
▼ + stars: | 2024-06-13 | by ( Mary Gilbert | ) edition.cnn.com time to read: +5 min

CNN —El Niño has officially come to an end and the ripples from its demise will shake up weather around the globe. With El Niño out of the spotlight, its opposite is preparing to take center stage later this summer: La Niña. For now, neither La Niña nor El Niño are present and a so-called neutral phase has begun, according to NOAA’s Climate Prediction Center. Here’s what a summer without El Niño and a budding La Niña could have in store. Luis Tato/AFP/Getty ImagesCalifornia and the western US also typically pick up more rain during El Niño, especially over the winter months.

Persons: CNN — El Niño, Niño, El Niño, Marcio Jose Sanchez, Luis Tato, Laura Paddison Organizations: CNN, El, Getty Images Locations: West, El, Beverly Crest, Los Angeles, California, South America, Africa, Africa’s, Kenya, Garissa, AFP, Getty Images California, US, West Coast

☆ From hiking to exploring arts and inspired cuisine, enrich your Hong Kong "bizcation" itinerary with these daytime activities between meetings
▼ + stars: | 2024-06-11 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

Hong Kong is known as a global center of trade and finance, but the city has much more to offer. Here are some must-do daytime experiences to check out between meetings and conferences, transforming your time in Hong Kong from "work trip" to an enriching "bizcation." Sample daytime bizcation itinerary Grab a plastic stool at Shui Kee Coffee to try some of the city's best French toast and Hong Kong milk tea. Find inspiration in Hong Kong's colorful art sceneThere are dozens of museums sprinkled around Hong Kong, but M+ is arguably its most impressive. Hong Kong Tourism BoardIf you're looking for a quiet escape, hop on a ferry to Cheung Chau, a much-loved getaway for Hong Kongers.

Persons: Shui Kee Coffee, Qing, it's, It's, Yau Ma, HKwalls, Ling Lane, Chan Lane, Chung, you've, Wong Tai, Nan Lian Garden, Tai, Hing, Get, Cheung Chau, Hong Kongers, Yang Organizations: Shui, Kowloon Cultural, Hong, Hong Kong Palace Museum, . Hong Kong Tourism Board, Art, Hollywood, Lin, Hong Kong Tourism Board, Hing Kee, Michelin, Rosewood Hong, Insider Studios Locations: Hong Kong, Shui Kee, Kowloon, Victoria Harbour, Hong Kong Palace, Jordan, . Hong Kong, Sai Ying, Wong Tai Sin, Mo, Sheung Wan, Tai Sin, Hing Kee Shanghai, Cheung

☆ Here's what to expect from Apple's AI event and how to trade it
▼ + stars: | 2024-06-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

The pressure is heating up on Apple to flaunt its AI potential at its annual Worldwide Developers Conference Monday. Shares of Apple have lagged major technology peers since the start of the year, rising just 1.5%. While the Apple event isn't typically regarded as a big market-moving stock catalyst, the highly anticipated announcement of new generative AI-enabled features changes the narrative this year, Woodring said. He added that shares tend to underperform the S & P 500 by 10 basis points on average on the day of the event. The analyst retained a $225 price target on Apple shares, implying 14% upside from Friday's close.

Persons: Morgan Stanley's Erik Woodring, Woodring, Siri, Tim Cook, Samik Chatterjee, Atif Malik, AAPL, Toni Sacconaghi Organizations: Apple, Developers, Nvidia, Microsoft, Mac, Citigroup, Google, Samsung

☆ The utilities sector is up 10% in 2024. These four names still have room to run, Morningstar says
▼ + stars: | 2024-06-07 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

"We think the market was ignoring and underappreciating what utilities can accomplish," Travis Miller, energy and utilities strategist for Morningstar, told CNBC. Eric Holcomb announced that Microsoft will be constructing a $1 billion data center in La Porte, Indiana. Another name that is due to see a boost from AI data center growth is WEC Energy. The tech giant already has a data center that is under construction in the area, which is expected to open in 2026. "Microsoft's first data center represents 1,000 [megawatts] of electricity load, or over 10% of WEC's current load in the state," wrote Morningstar analyst Andrew Bischof in May.

Persons: Travis Miller, Morningstar, Entergy, Eric Holcomb, Miller, NiSource, Andrew Bischof Organizations: Morningstar . Utilities, CNBC, WEC Energy, Duke Energy, Indiana Gov, Microsoft, NiSource, WEC Locations: Morningstar, Thursday's, La Porte , Indiana, NiSource, Virginia, Mount Pleasant , Wisconsin

☆ Renewable energy will be the predominant power source for data centers, Nextracker CEO says
▼ + stars: | 2024-06-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

The solar panels are part of the renewable energy sources that power Apple's European data center in Viborg. "There'll be some gas, but we believe based especially on the data published by the DOE, the predominant energy source for these data centers is going to be renewable energy," Shugar told CNBC in an interview Thursday. Whereas older data centers may have been 100 to 200 megawatts in size, some of the "monster data centers" today may be as big as 1,000 megawatts, Shugar said. Microsoft, for example, recently signed a massive renewable energy deal with Brookfield Asset Management. The companies described the agreement as the largest renewable energy deal signed between two corporate partners to date.

Persons: Christoph Dernbach, Dan Shugar, Lawrence, Shugar, Goldman Sachs, Goldman Organizations: Getty, Big Tech, Wall Street, Lawrence Berkeley National Laboratory, Department of Energy, U.S, DOE, CNBC, Goldman, Microsoft, Brookfield Asset Management Locations: Hanstholm, Denmark, Viborg, Nextracker, California

☆ Market backs off on hopes for interest rate cuts following strong jobs report
▼ + stars: | 2024-06-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on June 03, 2024 in New York City. Beyond signaling a still-vibrant labor market, the data at the very least adds to the narrative that the Fed doesn't have to rush to lower interest rates. Even with the unemployment rate rising to 4% in May, the labor market appears vibrant. However, on the other side of the mandate, inflation is still running well above the Fed's target. Most gauges have prices rising annually at about a 3% rate, down significantly from the peaks of mid-2022 but still running hot.

Persons: I've, Liz Ann Sonders, Charles Schwab Organizations: New York Stock Exchange, Federal Reserve, Labor Statistics Locations: New York City

☆ The diamond industry is in trouble as it loses its sparkle in China
▼ + stars: | 2024-06-06 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

In China, the industry's second-largest market, lab-grown varieties, a sluggish luxury market, and low marriage rates are causing it to lose its sparkle. Related storiesCook said one issue is a shift in perception of lab-grown diamonds in the country. The Knot's Real Weddings Study found that nearly half of engagement rings bought in the US last year featured a lab-grown diamond as a center stone. A social media analysis by Daxue Consulting found that lab-grown diamonds are also gaining traction in China, particularly among cash-strapped younger people. Even so, De Beers recently announced that it would halt its six-year experiment with selling lab-grown diamond jewelry.

Persons: —, Duncan Wanblad, De Beers, Wanblad, Al Cook, Cook, Paul Zimnisky, Zimnisky Organizations: Service, Financial, Business, Financial Times, Daxue Consulting Locations: China, De Beers

☆ Barclays Europe CEO: Peak inflation has passed
▼ + stars: | 2024-06-06 | 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 EmailBarclays Europe CEO: Peak inflation has passedFrancesco Ceccato, CEO of Barclays Europe, says "inflation has indeed come off the peak of 10.6% in October 2022."

Persons: Francesco Ceccato Organizations: Barclays Locations: Barclays Europe

☆ Skip the crowds in Positano and stay in one of these 5 Amalfi Coast towns instead
▼ + stars: | 2024-06-06 | by ( Laura Thayer | ) www.businessinsider.com time to read: +1 min

I've lived on the Amalfi Coast for 17 years and know of lots of great places to stay. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRoughly 5 million tourists flock to Italy's Amalfi Coast each year, many of whom choose to stay in popular towns like Positano. This story is available exclusively to Business Insider subscribers.

Persons: I've, — Organizations: Service, Business Locations: Amalfi Coast, Mare, Minori, Scala, Italy

☆ If the US doesn't win the electronic warfare fight, the joint force will 'lose' and 'lose very quickly,' Air Force commander says
▼ + stars: | 2024-06-05 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

Read previewFuture wars could be decided by electronic warfare like Russia and Ukraine are using right now to interrupt communications, defeat unmanned platforms, and even degrade precision weaponry. For the US, if it doesn't dominate that invisible domain and win the fight in the electromagnetic spectrum, it will "lose" and do so "very quickly," an Air Force wing commander said. Gen. Ed Barker, the Program Executive Officer for Intelligence, Electronic Warfare and Sensors, and US Air Force Col. Josh Koslov, commander of the 350th Spectrum Warfare Wing, discussed the challenges facing the US in the electronic warfare space and the efforts to find solutions to these problems. Related VideoA man holds a portable electronic warfare system at an event in Ukraine earlier this year. Increased US interest in it more recently has been driven by the ongoing conflict in Ukraine, where electronic warfare tactics, such as GPS spoofing and signal jamming, have shaped the fighting.

Persons: —, Ed Barker, Josh Koslov, Koslov, Barker, Simon Mictizic, it's, Daniel Patt, YURIY DYACHYSHYN, Patt, Denis Abramov Organizations: Service, Air Force, Business, C4ISRNET Conference, US, Intelligence, Electronic Warfare, US Air Force, 350th Spectrum Warfare, Getty, US Army's 1st Infantry Division, US Army, Staff, Hudson Institute, JDAMs . Volunteers, Ukrainian, Kvertus, Russian Defense Ministry, Mil.ru Locations: Russia, Ukraine, China, JDAMs, Lviv region, AFP, Russian

☆ Here's the cast of 'Star Wars: The Acolyte,' and where you've probably seen them before
▼ + stars: | 2024-06-03 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +1 min

"The Acolyte" follows a Jedi master who investigates the suspicious deaths of other Jedi. It's set 100 years before the "Star Wars" prequel era of the franchise. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe "Star Wars" universe is getting bigger with 2024's "The Acolyte," which revolves around a Jedi master tasked with finding the culprit when several Jedi knights are murdered. This story is available exclusively to Business Insider subscribers.

Persons: It's, Lee Jung, Carrie, Anne Moss, —, Leslye Headland Organizations: Service, High Republic, Business

☆ Turkey's inflation passes 75% in what economists believe is peak
▼ + stars: | 2024-06-03 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Inflation in Turkey topped 75% in May in what economists expect to be the peak before prices start to ease. Consumer prices rose 75.45% in May on an annual basis and 3.37% on a monthly basis, according to the Turkish Statistical Institute, a government agency. Economists had previously forecast that inflation in the country of 85 million would peak around 75%. Turkey's central bank has kept its interest rate at 50% since March, citing the continuing need to counter climbing inflation in the country. The bank said at the time that "tight monetary stance will be maintained until a significant and sustained decline in the underlying trend of monthly inflation is observed."

Organizations: Turkish Statistical Institute Locations: Turkey

☆ Auroras could appear over the next week as solar activity increases
▼ + stars: | 2024-05-31 | by ( Ashley Strickland | ) edition.cnn.com time to read: +8 min

The center, a division of the National Weather Service, issued a modern geomagnetic storm watch, known as a G2, for Friday and Saturday. Unlike the G5, or extreme geomagnetic storm, that occurred on May 10, moderate storm watches are not uncommon, according to the center. But the aurora-causing solar flares and coronal mass ejections currently spewing from the sun are a result of the same sunspots that triggered solar activity in May, according to Dr. Ryan French, solar physicist at the National Solar Observatory in Boulder, Colorado. “The frequency of things is decreasing, but you only need one to cause a large geomagnetic storm. The solar storm on May 10 was the most successfully mitigated space weather storm in history, Dahl said.

Persons: Ryan French, Lokman Vural, “ It’s, ”, Shawn Dahl, Dahl, ” Dahl, “, That’s, there’s Organizations: CNN, United, National Oceanic, Prediction, National Weather Service, Anadolu Agency, Getty, Solar Dynamics, auroras, ”, European Space Agency Locations: United States, Midwest, New York, Idaho, Boulder , Colorado, Rochester , New York, Sweden, South Africa

Mortgage rates have been holding relatively steady this month, though 30-year mortgage rates inched up slightly this week. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.36% this week, according to Freddie Mac data, which is a 12-basis-point increase from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which is likely to happen this year, mortgage rates should fall even further.

Persons: Lawrence Yun, Freddie Mac Organizations: National Association of Realtors, NAR, Zillow, Federal Reserve, Fed Locations: Chevron

☆ The 9 best movies on Netflix in June
▼ + stars: | 2024-05-31 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: 1 min

“Ali” (June 1)Will Smith in "Ali." Columbia PicturesWill Smith gives one of the best performances of his career playing the iconic heavyweight boxing champion Muhammad Ali. From his physical transformation to look like the champ to his voice and swagger, Smith pulls off everything needed to make an impressive Ali biopic. But perhaps his greatest achievement is his collaboration with director Michael Mann to showcase the complexities of the man who, at the peak of his skills, was also fighting criticisms about his religious faith, opposing the Vietnam War, and infidelity.

Persons: “ Ali ”, Will Smith, Muhammad Ali, Smith, Ali, Michael Mann Organizations: Columbia Locations: Ali, Vietnam

☆ Oil alliance OPEC+ could extend production cuts this weekend as focus shifts away from Middle East tensions, sources say
▼ + stars: | 2024-05-31 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +5 min

Thomas Coex | Afp | Getty ImagesThe oil-producing Organization of the Petroleum Exporting Countries and its allies could extend existing output cuts this week, delegates and analysts told CNBC, even as focus shifts from Middle East tensions to summer demand. OPEC+ producers are currently implementing a combined 5.86 million barrels per day of supply cuts. And then August is the peak month for tightness," Viktor Katona, lead crude analyst at Kpler, told CNBC. "However, I think that the market right now has priced in a full extension of the voluntary cuts. A high-inflation environment and tight monetary policy in turn reined in oil demand, but central banks have signaled readiness to lower interest rates in the second half of the year.

Persons: Thomas Coex, Viktor Katona, overproducers, Jorge Leon, Yemen's, Tamas Varga Organizations: Organization of, Petroleum, Afp, Getty, CNBC, Energy, Market Research, PVM Oil Associates, United Arab Emirates Locations: OPEC, Vienna, China, Iraq, Kazakhstan, Paris, Ukraine, Gaza, Red, Saudi Arabia, Russia, Guyana, Brazil, Canada

☆ NASA isn’t just creating a lunar time zone. It’s establishing an entirely new time scale
▼ + stars: | 2024-05-30 | by ( Jackie Wattles | ) edition.cnn.com time to read: +15 min

They’re also going to be communicating with one another or driving their moon buggies while on the lunar surface. Lunar clockworkWhat scientists know for certain is that they need to get precision timekeeping instruments to the moon. Exactly who pays for lunar clocks, which type of clocks will go, and where they’ll be positioned are all questions that remain up in the air, Gramling said. Focke Strangmann/APThe new time scale would underpin an entire lunar network, which NASA and its allies have dubbed LunaNet. But how future astronauts living and working on the lunar surface will experience time is a different question entirely.

Persons: aren’t, Cheryl Gramling, NASA’s, Gramling, Omer Tarsuslu, They’re, ” Gramling, Albert Einstein, Paco, Sao, Sundials, —, ”, Bruce Betts, Kevin Coggins, you’ve, ” Coggins, “, Bijunath, Patla, ” Patla, Focke Strangmann, It’s, “ It’s, Betts, Artemis III, Arizona State University “ It’ll Organizations: CNN, NASA, NASA’s Goddard Space Flight, Getty, White, Astronauts, Planetary Society, NASA’s Space Communications, Navigation, US National Institute of Standards, Technology, Vehicles, Physical, National, European Space Agency, International Astronomical Union, Reconnaissance, Arizona State University Locations: United States, China, Maryland, Kars, Turkey, Anadolu, German, Sao Miguel, Evora , Portugal, Germany, Malapert Massif

☆ European Central Bank’s Knot says monetary policy to ease ‘gradually,' as markets brace for June rate cut
▼ + stars: | 2024-05-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Klaas Knot, president of De Nederlandsche Bank NV, on the sidelines of the Group of 20 (G-20) finance ministers and central bank governors meeting in Gandhinagar, India, on Tuesday, July 18, 2023. Bloomberg | Bloomberg | Getty ImagesLONDON — European Central Bank Governing Council member Klaas Knot said it would "soon" be time to ease monetary policy in the region, but cautioned that the process would need to be done slowly to keep inflation in check. "It can soon be appropriate to ease the currently restrictive monetary policy stance and gradually take our foot off the brake ... policy rates will slowly but gradually move into less restrictive levels," Knot, head of the central bank of the Netherlands, said at the Barclays-CEPR International Monetary Policy Forum in London Tuesday. In a Reuters poll of 82 economists this week, all said they expected a June cut. Knot, usually known for his more hawkish stance, said Tuesday there had been "clear disinflation" since the peak above 10% in late 2022, particularly in goods inflation.

Persons: Klaas Knot Organizations: De Nederlandsche Bank, Bloomberg, Getty, Central Bank Governing, Barclays, CEPR, Monetary, ECB, U.S . Federal Reserve, Bank of England, Reuters Locations: Gandhinagar, India, Netherlands, London

☆ American shares tumble 15% after sales strategy backfires; carrier cuts growth
▼ + stars: | 2024-05-29 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

American Airlines planes sit at the gate at Los Angeles International Airport (LAX) in Los Angeles, California, on July 26, 2023. Isom said American is weighing changes to a plan Raja led to drive direct bookings at the airline in lieu of third-party sites and travel agencies, a strategy that included gutting the airline's sales department. The changes angered some travel agencies who weren't able to access some of the carrier's fares as before, making it harder for some agencies to sell tickets on American flights. Raja said last month that the airline's corporate booking growth was coming in behind big rivals Delta and United . American in February said it would limit some travel agency bookings from being eligible to earn AAdvantage frequent flyer miles.

Persons: Robert Isom, Vasu Raja, Isom, Raja, We've, We're Organizations: Airlines, Los Angeles International Airport, American Airlines, Delta Locations: Los Angeles , California

☆ Oil rises as major producers expected to keep output cuts in place
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose on Wednesday on expectations major producers will maintain production cuts at a meeting this Sunday at the same time fuel consumption should begin rising with the start of the peak summer demand season. Oil prices rose on Wednesday on expectations major producers will maintain production cuts at a meeting this Sunday at the same time fuel consumption should begin rising with the start of the peak summer demand season. The Memorial Day holiday on Monday signals the start of the peak demand season in the U.S., the world's biggest oil consumer, and keeping the production cuts in place should keep prices supported as consumption rises. The data was delayed by a day by the Memorial Day holiday on Monday. Investors also awaited U.S. inflation data this week that could sway expectations for Federal Reserve interest rate cuts that could be positive for oil prices.

Persons: Daniel Hynes, Investors Organizations: Brent, . West Texas, Traders, of, Petroleum, ANZ Bank, American Petroleum Institute, Federal Reserve Locations: Russia, OPEC, U.S, Gaza, Rafah, .

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