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Read previewSafety officials are likely to investigate if contaminated fuel played a role in the Baltimore bridge collapse, causing the ship to lose power before it crashed into the Francis Scott Key Bridge, according to reports. Part of the investigation will examine whether "dirty fuel" contributed to the ship's initial loss of power, sources familiar with the matter told The Wall Street Journal. AdvertisementMarine experts say contaminated fuel is a long-standing industry issue and a possible factor in the Baltimore port crash. John Catsimatidis, CEO of United Refining Company, told Fox News that it's not unusual for oil companies to sell ships contaminated fuel. While it's still too early to determine what led to the Baltimore Bridge collapse, industry experts say "dirty fuel" would be one of multiple possible factors in the incident.
Persons: , Francis Scott Key, Dali, Dali's charterer, Gerald Scoggins, Scoggins, John Catsimatidis, Catsimatidis, Ian Dalby, it's, Jennifer Homendy Organizations: Service, Business, Wall Street, Grace Ocean PTE, Synergy, Maersk, Atlantic Council, Washington Post, United Refining Company, Fox News, Atlantic, National Transportation Safety Locations: Baltimore, Federal
Foreign companies exiting Russia over its invasion of Ukraine have amassed losses of $107 billion. Despite thousands pledging to leave, only 372 companies have exited Russia since the war started. At that time, foreign companies leaving Russia had lost over $80 billion in the departure process. Thousands of foreign companies pledged to leave Russia after it started the war in Ukraine. Other than writedowns and lost revenue, departing foreign companies have also been paying huge fees to the Russian government.
Persons: , Vladimir Putin's, Ian Massey Organizations: Service, Reuters, Washington, Moscow . Companies, Kyiv School of Economics, Companies, HSBC, Polymetal International, Kremlin, RBC Daily, Ikea Locations: Russia, Ukraine, writedowns, Moscow
In the wake of Nvidia 's launch of powerful new artificial intelligence chips, Goldman Sachs is predicting major growth for memory chips used in AI systems. Called Blackwell, the new GPU chips from Nvidia that power AI models require the latest third-generation memory chips, also known as high-bandwidth memory (HBM/HBM3E). The investment bank expects the total addressable market for HBM to expand tenfold to $23 billion by 2026, up from just $2.3 billion in 2022. The Wall Street bank sees three major memory makers as prime beneficiaries of the booming HBM market: SK Hynix , Samsung Electronics and Micron . Investors have been cautious about the memory market for AI systems since all three major suppliers are due to expand manufacturing capacity and add downward pressure on profit margins.
Persons: Goldman Sachs, Blackwell, Giuni Lee, Goldman, Peter Lee, Jensen Huang, — CNBC's Michael Bloom Organizations: Nvidia, HBM, SK Hynix, Samsung Electronics, Micron, Investors, Intelligence, Innovation Fund, MU, Goldman, Citi Locations: U.S, Germany
Meme-stock fans have boosted Trump Media & Technology Group stock by nearly 80% this week. Truth Social's parent company is now valued at over $13 billion on a fully diluted basis. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMeme-stock mania has boosted the value of Trump Media & Technology Group beyond Etsy, Hasbro, and Paramount Global — three S&P 500 companies worth nearly $8 billion each. Truth Social's parent company completed a SPAC merger on Monday, and began trading under the ticker DJT on Tuesday.
Persons: Ralph Lauren, Campbell Soup, Organizations: Trump Media & Technology Group, American Airlines, Service, Trump Media & Technology, Hasbro, Paramount Global, Business
CNBC Daily Open: A key inflation gauge in focus
  + stars: | 2024-03-28 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Yellen on China dumpingU.S. Treasury Secretary Janet Yellen warned that China is dumping its surplus of solar panels and EVs on global markets, distorting market prices. This signals Beijing's latest efforts to boost foreign investment in China as relations with the U.S remain fraught. Investors anxious over a market decline should hedge their positions to limit risk in financial assets, according to fund managers.
Persons: Janet Yellen, Yellen, Xi Jinping, Stephen Schwarzman, Cristiano Amon, Mark Carney, Francis Scott Key, David Neuhauser Organizations: CNBC, Dow, Treasury, U.S, Blackstone, Qualcomm, Bloomberg, Francis Scott Key Bridge, Livermore Partners Locations: Yellen, China, U.S, Baltimore, Port of Baltimore
Asia’s 50 best restaurants for 2024 revealed
  + stars: | 2024-03-27 | by ( Karla Cripps | ) edition.cnn.com   time to read: +5 min
CNN —After losing the number one spot to Bangkok in 2023, Tokyo has reclaimed its crown as the city with the top eatery in the region at the annual Asia’s 50 Best Restaurants Awards, which were announced in Seoul, South Korea on Tuesday evening. The list – part of the global “World’s 50 Best” brand – is compiled by the Asia’s 50 Best Restaurants Academy, which is made up of more than 300 food critics, writers, chefs and restaurateurs, all selected for their knowledge of Asia’s restaurant scene. Though Singapore didn’t have any restaurants in the top five, nine of its venues made the top 50 list – more than any other city. Courtesy The World's 50 BestThe “Asia’s Best Female Chef” award went to Pichaya ‘Pam’ Soontornyanakij, owner of Bangkok restaurant Potong, which came in at 17 on this year’s list. Mineko Kato of restaurant Faro in Tokyo won the Asia’s Best Pastry Chef award and Kevin Lu of Logy, in Taipei, was voted Asia’s Best Sommelier.
Persons: Daniel Calvert, Calvert, , , Sézanne, I’ve, we’d, Gaggan, Seroja, Gaggan Anand, Thitid “, Sühring, Le Du –, Ton, Bangkok –, Odette, Pichaya, Pam ’ Soontornyanakij, Ton’s Nusara, Mineko Kato, Kevin Lu, Logy, Sung Anh, Mosu, Danny Yip, Hong, Le, Fu, Hui, Samrub, Villa, Ling Long, Ando, Les Amis, Baan, Goh, Anan, Tam’s Organizations: CNN, Marunouchi, Restaurants Academy, Hospitality, Toyo, Meta, Studio, Bund Locations: Bangkok, Tokyo, Seoul, South Korea, Japan, France’s Champagne, Maronouchi, Asia, , Kolkata, Hong Kong, Singapore, Thai, ” Singapore, Faro, Taipei, Nusara, Suhring, Osaka, Odette, Sorn, Le Du, Potong, Shanghai, Logy, Masque, Mumbai, Manila, Delhi, Seroja, Taichung, Taiwan, Mume, Wakayama, Lolla, Avartana, Chennai, India, Fukuoka, Jakarta, Kyoto, Anan Saigon, Ho Chi Minh City, Macao
A majority of respondents — 61% — in the latest CNBC Delivering Alpha Stock Survey believe the broader market has run too far, too fast heading into the second quarter and a pullback is near. The S & P 500 is up more than 9% in the first quarter, which would be its best start to a year since 2019. When it comes to investing domestically 26% said the Nasdaq 100 was the best place to be compared to 13% from the S & P 500. That stock is up 245% in a year and 120% in six months far outpacing every other stock in the S & P 500 except for Super Micro Computer . The rest think we're more likely to be in the 5%-to-10% range for an annual return for the S & P in the next decade.
Persons: Jerome Powell, mangers, they'd Organizations: CNBC, Alpha Stock Survey, Federal Reserve, Nasdaq, bitcoin, Investors, Nvidia, Micro Locations: Japan, United Kingdom, Europe, Canada, South Korea, United States, China
PARIS (Reuters) - France is planning to toughen unemployment rules by restricting the period when jobless citizens receive welfare payments, Prime Minister Gabriel Attal said on Wednesday. Outlining the government's plans to further reform the job market, Attal told TF1 television: "One of the options is to reduce the duration of payments. An unemployed worker aged 53 or less currently receives up to 18 months of benefits plus six months if jobs are scarce. The duration extends to 22-1/2 months plus 7-1/2 months for workers aged 53-54, and 27 months plus nine months for those over the age of 55. Other than shortening the duration of welfare payments, Attal also said the government was considering toughening the requirements to be eligible for unemployment benefits.
Persons: Gabriel Attal, Attal, Emmanuel Macron's, Tassilo Hummel, Timothy Heritage Organizations: PARIS, TF1 Locations: France
Donald Trump is $4 billion richer after his Truth Social merger with Digital World Acquisition was approved March 22. Trump Media & Technology Group is now trading under the "DJT" ticker symbol, but experts doubt its longevity. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account?
Persons: Donald Trump Organizations: Trump Media & Technology Group, Business
Carnival Corp raised its annual profit forecast on Wednesday, anticipating a record year of bookings as the company benefits from a rise in people seeking cruise vacations for the first time. "The first quarter has been fantastic across the board," CEO Josh Weinstein said on a post-earnings call. "We delivered record bookings and record customer deposits again this quarter, a great start to the year." Bookings for the rest of 2024 remain the best year on record with total customer deposits reaching $7 billion in the first quarter, the company said. New-to-cruise customers surged more than 30% year-over-year, Carnival said.
Persons: Josh Weinstein, Carnival Organizations: Carnival Corp
There are more heavily trafficked routes across the Baltimore Harbor than the Francis Scott Key Bridge. The Harbor Tunnel carries double the daily traffic of the Key Bridge and the Fort McHenry Tunnel much more than that. The six men who are missing were part of this tradition of working Baltimore: members of a construction crew, working overnight hours filling potholes on the bridge. One day in 1977, Mr. Metzger said, his father, a truck driver, was coming back home from his route and happened upon the bridge’s ribbon cutting. And the Key Bridge is gone.”
Persons: Francis Scott Key, , , Kurt L, Mr, Schmoke, Rafael Alvarez, Dali, Jim Lo Scalzo, Curtis Bay, Alvarez, Baltimoreans, James Metzger, Metzger, Metzger’s Organizations: Fort, University of Baltimore, Chesapeake, Washington , D.C, Bethlehem Steel Plant, Amazon Locations: Baltimore, Fort McHenry, Baltimore’s, Maryland, Washington ,, New York City, Shutterstock
The drawing will come a day after Tuesday’s momentous Mega Millions prize. The winning Mega Millions numbers Tuesday were: 7, 11, 22, 29, 38 and Mega Ball 4. The $1.13 billion Mega Millions jackpot, if confirmed at that level, would be rank fifth in that game’s history. The second Powerball jackpot to surpass $800 million this yearThis is the second Powerball jackpot to surpass $800 million this year. Winning the Powerball jackpot means a ticket matched all five white balls plus the red Powerball.
Persons: Organizations: CNN, Garden State, Michigan, of Columbia, Virgin Islands Locations: New Jersey, Wednesday’s, Garden, California, of Columbia , Puerto Rico, Virgin, Tallahassee , Florida
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Javers Files: Did Change Healthcare's hackers get double-crossed? Eamon Javers reports on the latest intel from cybersecurity firm Crowdstrike on what happened to United Health's $22 million ransom paid for to recover data from subsidiary Change Healthcare.
Persons: Eamon Javers Organizations: intel, Health's, Change Healthcare
U.S. stocks have "limited upside" from here, given the macroeconomic backdrop — and investors should be looking for better opportunities elsewhere, according to Goldman Sachs Asset Management. The U.S. economy has been surprisingly resilient in the face of the Federal Reserve's aggressive monetary policy tightening over the last two years, defying expectations of a 2023 recession. Though GSAM's base case is for the Fed to engineer a soft landing and for the U.S. economy to avoid recession, James Ashley, head of international market strategy, told CNBC on Wednesday that if a recession were to come, it would be this year. "The Fed only began to hike in March of '22, so when we're talking about recession risks in 2023, that would have assumed a very rapid passthrough from the transmission of monetary policy into the real economy. In other words, it was premature," Ashley said.
Persons: James Ashley, Ashley Organizations: Goldman Sachs Asset Management, Fed, CNBC Locations: U.S
Salaries for fully in-office roles are climbing in the United States. As of March 2024, hybrid roles pay $59,992 on average, in 2023, that number was $54,034, ZipRecruiter reports. Remote jobs now pay $75,327, but in 2023, they paid an average $69,107. Given how competitive the job market has been in recent months — especially for remote roles — Bui says it's a "fair trade-off." It's too soon to tell if higher salaries will be enough to convince people to choose an in-office job over a remote offer.
Persons: switchers, Johnny Bui, Bui, — Bui, it's, Julia Pollak, ZipRecruiter's, Pollak, It's Organizations: United States . Companies, CNBC, Visa, LinkedIn, Employees, Owl Labs, Employers Locations: United States, U.S, Austin , Texas
Rose Hanbury and David Cholmondeley live at Houghton Hall in Norfolk. Built in the 1720s, the 106-room estate is close to Prince William and Kate Middleton's home. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementHoughton Hall in Norfolk, England, is home to David Cholmondeley, the 7th Marquess of Cholmondeley, and his wife, Lady Sarah Rose Hanbury. Take a look inside the historic estate, which has been a center of arts and culture for centuries.
Persons: Rose Hanbury, David Cholmondeley, Prince William, Kate Middleton's, , Marquess of Cholmondeley, Lady Sarah Rose Hanbury, Kate, Kate's, Cholmondeley, Hanbury Organizations: Houghton Hall, Houghton, Service Locations: Norfolk ., Norfolk, England
A man went on a stabbing rampage in a residential neighborhood in Northern Illinois on Wednesday afternoon, killing four people and wounding seven in an attack that included a home invasion and involved multiple crime scenes, the authorities said. Three victims were killed at the scene, and a fourth died at a hospital, the authorities said. The seven wounded were taken to area hospitals, where their conditions ranged from critical to stable. They noted that no one else was being sought in the attack. “We don’t believe there’s any other suspects that are on the run or at large at this particular time,” Chief Redd said at a news conference.
Persons: Carla Redd, Redd Locations: Northern Illinois, Rockford, Chicago
Minneapolis CNN —The collapse of the the Francis Scott Key Bridge in Baltimore on Tuesday is unfortunately not the first deadly collapse of a major interstate bridge in the US. About 140,000 cars a day traversed the I-35W bridge that once stood more than 100 feet above the Mighty Mississippi. Steve Helber/APIt’s not a complete apples to apples comparison between the I-35W bridge and the Key Bridge. The Key Bridge had about 22% of the daily traffic of the I-35W Mississippi River Bridge; however, the Minneapolis bridge was about 22% the length of the truss bridge in Baltimore. In the immediate aftermath of the Key Bridge collapse, Levinson told CNN that this event should hopefully bring attention to vulnerabilities of critical pieces of infrastructure.
Persons: Francis Scott Key, ” Christopher Phelan, Minneapolis , Minnesota Mandel Ngan, MnDOT, Nancy Daubenberger, George W, Bush, ” Phelan, Tim Walz, Steve Helber, ” Ryan Petersen, David Levinson, , Levinson, Feng Xie, Xie, ” Levinson Organizations: Minneapolis CNN, Twin, University of Minnesota, CNN, Getty, Minnesota Department of Transportation, NPR, US, Minnesota, Minnesota Gov, Coast Guard, Port, University of Sydney, Minneapolis Star, Transportation Planning, Technology Locations: Minneapolis, Baltimore, Mississippi, Twin Cities, Mighty Mississippi, Minnesota, Minneapolis , Minnesota, AFP, City, Lakes, Anthony Falls, Maryland, Baltimore , Maryland, Port of Baltimore, Australia
CNN —The Republican operative who accused American Conservative Union chairman Matt Schlapp of sexual assault last year received a significant financial settlement in exchange for dropping his lawsuit against Schlapp, multiple sources familiar with the case told CNN. The $480,000 settlement was paid to Carlton Huffman through an insurance policy, according to a source familiar with the details. The original lawsuit filed by Huffman against Schlapp asked for more than $9 million in damages. Huffman told CNN that Schlapp made unwanted sexual advances, including groping and fondling his groin without consent, on the ride back from two Atlanta-area bars on October 19, 2022. A former official on the Walker campaign told CNN he does not believe the settlement exonerates Schlapp.
Persons: Matt Schlapp, Schlapp, Carlton Huffman, Huffman, , ” Schlapp, , ” Huffman, Tim Hyland, Mark Corallo, Donald Trump, George W, Bush, Mercedes Schlapp, Republican Herschel Walker’s, Charlie Gerow, Walker, Carlton, Huffman’s, ” “ Organizations: CNN, Republican, American Conservative, ACU, Washington Examiner, Political, Conference, House, Georgia GOP, Republican Herschel Walker’s Senate Locations: Atlanta, CPAC, Walker’s, Raleigh , North Carolina
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChange Healthcare's $22-million ransom may have been intercepted on the dark webEamon Javers reports on the twists and turns on the dark web, where cybersecurity firm Crowdstrike believes United Healthcare may have lost $22 million after paying cybercriminals, who pocketed the money without sending it to the original hackers.
Persons: Eamon Javers, Crowdstrike, cybercriminals Organizations: Healthcare
Japan's yen hits 34-year-low, heating talk of intervention
  + stars: | 2024-03-27 | by ( Sophie Kiderlin | In | ) www.cnbc.com   time to read: +3 min
Japanese 1,000 yen, 5,000 yen and 10,000 yen banknotes arranged in Kyoto, Japan, on Thursday, Nov. 2, 2023. The contradictions in Japan's efforts to protect the yen while slowing the pace of rising bond yields are becoming increasingly clear in currency and debt markets. The yen was last at 151.22 against the dollar at 10:19 a.m. London time after paring back some losses. The yen hit a 34-year-low on Wednesday, weakening as much as 151.97 against the U.S. dollar and fueling market questions over potential government intervention to prop the Japanese currency. "There is now a higher chance of Japanese FX intervention.
Persons: Kentaro Takahashi, Shunichi Suzuki, Masato Kanda, Kanda Organizations: Bloomberg, Getty, U.S ., Bank of Japan, Financial Services Agency, Reuters, FX, Commonwealth Bank of Australia, Bank of America Global Research Locations: Kyoto, Japan, London
HONOLULU (AP) — A woman who purchased a vacant lot in Hawaii was surprised to find out a $500,000 house was built on the property by mistake. But the company built one on Reynolds' lot. Photos You Should See View All 60 Images"There's a lot of fingers being pointed between the developer and the contractor and some subs,” Reynolds' attorney James DiPasquale said. Reynolds rejected the developer's offer for a neighboring lot of equal size and value, according to court documents. She has filed a counterclaim against the developer, saying she was unaware of the "unauthorized construction.”An attorney for PJ’s Construction told Hawaii News Now the developer didn’t want to hire surveyors.
Persons: , She's, Annaleine, Anne ” Reynolds, PJ's, Reynolds, ” Reynolds, James DiPasquale, ” DiPasquale, Peter Olson, Construction's, Olson Organizations: Local, Keaau Development, Associated Press, PJ’s Construction, News Locations: HONOLULU, Hawaii, Paradise, Puna, California, , Honolulu
Stock futures are trading near the flatline overnight as the S&P 500 approached its best first-quarter performance in five years. S&P 500 futures inched lower by 0.08%, while Nasdaq 100 futures declined 0.1%. Stocks rallied across the board on Wednesday, with the S&P 500 gaining 0.86% to close at a record high. The major averages are tracking for their second consecutive winning quarter and fifth straight winning month. For the quarter, the S&P 500 is up about 10%.
Persons: Stocks, You've, you've, Hogan, Riley, Dow Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Dow Jones Industrial, Dow
Russian President Vladimir Putin at an expanded Prosecutor General's Office meeting on March 26, 2024, in Moscow. An investigation into the attack is ongoing, but the latest, outlandish accusations give Moscow a problem: It now has to find the evidence to back up its unsubstantiated claims. What's particularly awkward for the Kremlin is that the Islamic State militant group has already claimed responsibility for the attack. Ukraine denies any involvement in the attack, saying it was "absolutely predictable" that Moscow would look to blame it. The White House said Ukraine had "no involvement whatsoever" in the attack and that any claim to the contrary was "Kremlin propaganda."
Persons: Vladimir Putin, It's, Andrius, Putin, David Cameron, concertgoers, Alexander Bortnikov, Nikolai Patrushev, Sergei Karpukhin, Nikolai Patrushev —, , Patrushev, Maria Zakharova, Dmitry Peskov, Peskov, Moscow, Margarita Simonyan, Putin's, Alexander Lukashenko, Rachabalizoda, Barotovich, Muhammadsobir, Shamsidin Fariduni, Tatyana Makeyevaolga Maltseva, Max Hess Organizations: General's, Getty, Ukraine, Crocus City Hall, Islamic State, West, Kremlin, Russia's Federal Security Service, Russian Security, AFP, Security, Islamic, RIA Novosti, Russian Foreign, U.S, Kremlin's, CNBC Wednesday, Institute for, Afp, Analysts, Foreign Policy Research Institute, CNBC, CIA Locations: Moscow, Russia, Ukraine, Crocus, Kyrgyzstan, Tajikistan, Ukrainian, Europe, Russian, U.S, Kyiv, Belarusian, Belarus, Basmanny, Soviet Union
As Tax Day approaches, there are plenty of things small business owners should keep in mind when filing taxes this year. Since business tax filing is complex, most experts recommend small business owners work with a professional tax adviser rather than trying to file on their own or even with tax-filing software. Here are things small business owners should consider as the April 15 deadline looms. There’s also a tax credit based on employer contribution, up to $1,000 annually per employee, over the plan’s first five years. Designed to help small businesses keep employees during pandemic-era shutdowns, the generous credit let businesses file amended tax returns to claim the credit.
Persons: , Amber Kellogg, , it’s, Mitch Gerstein, Gerstein, There’s, Scott Orn, Orn, ” Orn, Danny Castro, Occams Organizations: Occams Advisory, Isdaner, Congress, Kruze Consulting, BDO USA, BBO, ERC, IRS Locations: Florida
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