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☆ Ferrari program aims to stop counterfeit cars.
▼ + stars: | 2024-07-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

Ferrari is so determined to maintain the authenticity of its cars, then, that it’s crushing potential fakes into cubes. Potential tattle-tales can share tips on possible faux Ferrari goods on a web page Ferrari created just for the purpose. How to fake a carWhile creating fake merchandise can be a simple matter of placing an unlicensed Ferrari prancing horse logo on a product, producing a believable fake Ferrari car can be much more involved. “Generally, the Ferrari collector tends to have a considerable knowledge over the brand as a whole and its cars, especially the most valuable ones,” said the spokesperson. As an example of the fate that awaits any fake Ferrari automobiles the company can find, Ferrari published a photo of a red car squished into a crinkled metal cube.

Persons: Ferrari, – Ferraristi, ”, ” Ferrari, Brian Rabold, “, ” Rabold, they’ll, Enzo, Michael Mann, “ Ferrari Organizations: CNN —, counterfeits, CNN, Ferrari Locations: Italy, Italian

☆ Netflix Adds 8 Million Subscribers
▼ + stars: | 2024-07-18 | by ( Nicole Sperling | More About Nicole Sperling | ) www.nytimes.com time to read: +1 min

Netflix added 8 million subscribers in its last quarter, the streaming company said in its earnings report on Thursday, bringing its global subscription base to 278 million. The company said it was slightly raising expectations and now predicted revenue growth of 14 to 15 percent for the year. Netflix now offers subscriptions to an advertising-supported service for $6.99 a month in 12 countries. That tier now accounts for more than 45 percent of all sign-ups in those markets. The company has also been investing more heavily in live events, including a recent three-year deal with the N.F.L.

Persons: “, Tom Brady, Jennifer Lopez Organizations: Netflix, Paris Locations: ”

☆ Ford Will Make Gasoline Trucks, Not Electric Vehicles, in Ontario Plant
▼ + stars: | 2024-07-18 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

Ford Motor said on Thursday it would retool a plant in Canada to produce large pickup trucks rather than the electric sport-utility vehicles it had previously planned to make there. The Ford plant, in Oakville, Ontario, recently stopped making the gasoline-powered Ford Edge S.U.V., and was slated to shift to new electric versions of the Ford Explorer and Lincoln Aviator, both three-row S.U.V.s. Instead, Ford will turn the factory in Oakville into a third production location for its Super Duty pickup trucks, which are among its most profitable models. Jim Farley, the chief executive of Ford, said the company’s two other Super Duty plants, in Kentucky and Ohio, were running at full capacity but couldn’t produce as many vehicles as its commercial customers wanted. Super Duty trucks are typically used to haul heavy equipment and materials by building contractors, oil and gas companies and other businesses.

Persons: General Motors, Ford, Jim Farley Organizations: Ford, General, Ford Edge, Ford Explorer, Lincoln Aviator, Duty Locations: Canada, Oakville , Ontario, Oakville, Kentucky, Ohio

☆ Amazon Prime Day ‘major cause of injuries’ for workers, Senate finds
▼ + stars: | 2024-07-17 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

London CNN —Amazon’s warehouses are especially dangerous for workers during the company’s annual Prime Day event, as well as the holiday season, according to an investigation by the US Senate. Prime Day, held on Tuesday and Wednesday this week, is “a major cause of injuries for the warehouse workers who make it possible,” said a report released Monday by Sen. Bernie Sanders, who chairs the Senate Committee on Health, Education, Labor and Pensions. But Amazon’s total injury rate, which includes injuries the company does not have to report to OSHA, was just under 45 per 100 workers, the report said. Amazon raked in $12.7 billion in sales on July 11 and 12 last year, its Prime Day 2023 event, and said July 11 was the single biggest sales day in the company’s history. When faced with worker injuries, Amazon provides minimal medical care.”Amazon holds Prime Day in July every year to juice sales numbers during what are typically slow summer months.

Persons: ”, Sen, Bernie Sanders, ” Kelly Nantel, we’ve, “, Andy Jassy, Sanders Organizations: London CNN, Senate, Prime, Health, Education, Labor, Pensions, Occupational Safety, Health Administration, OSHA, Amazon, CNN

☆ ‘Morning Joe’ backlash is latest mess for NBC and Comcast executives
▼ + stars: | 2024-07-17 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

Joe Scarborough, speaking alongside co-hosts Mika Brzezinski and Willie Geist, offered viewers a peek behind the curtain into the conspicuous decision-making process that transpired over the weekend. Without “Morning Joe” airing on Monday, viewers rebelled against MSNBC, opting to change the channel, Nielsen data indicated. The move to bench the “Morning Joe” crew, after all, didn’t happen in a vacuum. Which is why, perhaps, Comcast is involved in cleaning up the “Morning Joe” mess. I’m told that the company’s president, Mike Cavanagh, rescheduled meetings on Tuesday to grapple with the fallout stemming from the “Morning Joe” commentary.

Persons: CNN — Cesar Conde, —, Joe ”, Donald Trump, Joe Scarborough, Mika Brzezinski, Willie Geist, Scarborough, “, Lester Holt, Savannah Guthrie, Joe, ”, ” Scarborough, Joe Biden, Nancy Pelosi, Conde, Trump, Brian Roberts, Roberts, ” Trump, radicalizing, Donald Trump Jr, Sarah Huckabee Sanders, it’s, I’m, Mike Cavanagh, bode Organizations: CNN, MSNBC, NBC, Group chairman’s, Nielsen, NBC News Group, Comcast, RNC, NBCU, — Locations: Scarborough, Savannah, Acela

☆ Chaos on social media platforms after Trump shooting is a mess of their own making
▼ + stars: | 2024-07-17 | by ( Brian Fung | ) edition.cnn.com time to read: +12 min

None of the country’s largest social media platforms responded to repeated questions from CNN over multiple days this week about what actions they have taken in response to misinformation and conspiracy theories circulating about the Trump rally shooting. And what the public experienced on social media in the moments after the attack on Trump is a sign of what’s to come, said Imran Ahmed, CEO of the Center for Countering Digital Hate (CCDH), a social media watchdog group that advocates for tighter regulation of the platforms. “It can’t make a safe social media product that does politics and civic stuff, and so it just got out of that business.”Baybars Orsek, managing director of the fact-checking organization Logically Facts, said these and other changes by social media platforms have made working with them in the last few years more challenging. The decision effectively means the US government can continue to flag misinformation threats to social media companies in the runup to the 2024 election. Mainstream media outlets, taking care to report only credible answers, were initially slower to report what was happening than the breakneck pace of social media speculation.

Persons: Donald Trump, bode, “, Joe Biden, Biden, Snapchat, ”, Imran Ahmed, ” Ahmed, Elon Musk’s, Musk, CCDH, X, TikTok, “ Meta, Laura Edelson, ” Baybars Orsek, ” Orsek, Trump, Edelson, Alicia Wanless, “ I’ve, ” Wanless, Wanless Organizations: CNN, Meta, Twitter, YouTube, Department of Homeland Security, Big Tech, Trump, Google, Center, Social, Northeastern University, Democracy, Supreme, Facebook, Carnegie Endowment, International Peace

☆ ‘Hillbilly Elegy:’ JD Vance’s book tops Amazon book and Netflix film charts following Trump’s VP appointment
▼ + stars: | 2024-07-16 | by ( Elizabeth Wagmeister | ) edition.cnn.com time to read: +2 min

Eight years after its publication, Vance’s book has found its way back onto the bestseller lists, thanks to his appointment as Donald Trump’s running mate. Less than 24 hours after Trump announced Vance was his vice-presidential pick, “Hillbilly Elegy” shot to the top of Amazon’s bestselling books. Close notably was nominated for “Hillbilly Elegy” at both the Oscars and the Razzie Awards, which is the ceremony that infamously honors the worst in cinema every year. “Hillbilly Elegy” chronicles Vance’s childhood in Appalachia, which he wrote was plagued with poverty, abuse and his mother’s addiction. At the time of “Hillbilly Elegy’s” release, the book was widely discussed as an explanation for Trump’s rise among the White working class.

Persons: Vance, Ron Howard, Donald Trump’s, ”, Glenn Close, Amy Adams, Vance’s, Adams, Gabriel Basso, Trump’s, Goodreads, Sydney Bishop Organizations: CNN, Yale, Trump, Netflix, Sydney Locations: Appalachia

☆ Burberry Replaces C.E.O. Amid ‘Disappointing’ Results
▼ + stars: | 2024-07-15 | by ( Gregory Schmidt | More About Gregory Schmidt | ) www.nytimes.com time to read: +1 min

Burberry, the British luxury brand, on Monday reported falling sales, suspended its dividend and replaced its chief executive, as it grapples with a pullback in spending by consumers on high-end fashion and related goods. Burberry said revenue fell more than 20 percent in its latest quarter, which ended June 29. To bolster its balance sheet, Burberry paused its dividend. The company named Joshua Schulman as its new chief executive, replacing Jonathan Akeroyd, who is leaving the company immediately. The abrupt departure of Mr. Akeroyd, a fashion industry veteran who was previously chief executive of Versace and Alexander McQueen, came less than two and a half years after he was tapped to run Burberry.

Persons: ” Gerry Murphy, Burberry, Joshua Schulman, Jonathan Akeroyd, Akeroyd, Versace, Alexander McQueen Organizations: Burberry Locations: London

☆ Russian cyber firm Kaspersky Lab to shut down US operations after Commerce ban
▼ + stars: | 2024-07-15 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +2 min

CNN —Russian cybersecurity company Kaspersky Lab will “gradually wind down” its US operations and lay off its US-based employees after the Department of Commerce announced a ban on the firm selling its products in the United States, Kaspersky said Monday. The Commerce Department last month announced the ban of the sale and provision of Kaspersky software in the United States, citing national security concerns. More than 400 million people and 240,000 companies worldwide use Kaspersky Lab’s software products, according to the company. CNN reported in April that the Commerce Department was taking action against Kaspersky Lab. Kaspersky Lab said in its statement Monday that it would “continue investing in strategic markets and remain committed to serving its customers and partners and ensuring their protection.”

Persons: Kaspersky, Kim Zetter, Joe Biden, ”, Donald Trump Organizations: CNN, Kaspersky, Department of Commerce, Department, Commerce, Commerce Department, Kaspersky Lab, McAfee, Symantec Locations: Russian, United States, Moscow, Russia, Israel

☆ Google is close to making its biggest acquisition ever
▼ + stars: | 2024-07-15 | by ( Matt Egan | Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN. A takeover of Wiz, which makes cybersecurity software for cloud computing, would represent a major bet by Google on cybersecurity, marking the tech giant’s biggest-ever acquisition. Discussions between Google and Wiz began after the startup raised $1 billion from venture capital investors earlier this year, the source said. Google Cloud is central to the company’s efforts to diversity revenue beyond its core search advertising business. Notable customers include BMW, Slack and Salesforce, and it works with major cloud companies including Amazon, Microsoft and Google.

Persons: Wiz, Dan Ives, Biden, Trump, Ives, — Assaf Rappaport, Ami Luttwak, Yinon Costica, Roy Reznik, Slack Organizations: New, New York CNN, Google, CNN, Wiz, Wall Street, Motorola, Microsoft, Wedbush, White, Federal Trade Commission, Big Tech, Israel Defense Forces, Fortune, BMW, Amazon Locations: New York, New York City

☆ How Microsoft’s Satya Nadella Became Tech’s Steely Eyed A.I. Gambler
▼ + stars: | 2024-07-14 | by ( Karen Weise | Cade Metz | ) www.nytimes.com time to read: 1 min

Earlier this year, Satya Nadella hammered out a deal that surprised everyone outside his inner circle at Microsoft. Mr. Nadella, Microsoft’s chief executive, had his eyes on a Silicon Valley start-up called Inflection AI. The company’s chief executive, Mustafa Suleyman, was one of the founders of the pioneering artificial intelligence company DeepMind. He had raised more than $1.5 billion in funding and hired top researchers for his new company, but he had a not-so-great reputation as a boss. Microsoft still shelled out more than $650 million to license Inflection’s technology, hired most of its staff and put Mr. Suleyman in charge of a more than $12 billion chunk of Microsoft’s business.

Persons: Satya Nadella, Nadella, Mustafa Suleyman, Suleyman Organizations: Microsoft

☆ Google reportedly in advanced talks to acquire cyber startup Wiz for $23 billion, its largest-ever deal
▼ + stars: | 2024-07-14 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Google is in advanced talks to acquire cybersecurity firm Wiz for $23 billion, The Wall Street Journal reported Sunday, citing people familiar with the matter. It had been eyeing an IPO as recently as May, when the company achieved a valuation of $12 billion. Google has made large cyber acquisitions before: The company acquired cybersecurity firm Mandiant for $5.4 billion two years ago. But its reported talks with Wiz would suggest that the company has developed a fresh appetite for M&A, competitive concerns notwithstanding. Google had been in talks to acquire sales software maker Hubspot, CNBC previously reported, but its pursuit had reportedly cooled.

Persons: Sundar Pichai, Wiz, Assaf Rappaport Organizations: Alphabet Inc, Government, Society, Google, Street, Wiz, Ventures, Insight Partners, Sequoia Capital, CNBC Locations: Stanford , California

☆ Americans are buying more Kei trucks from Japan. Is it a sign of a growing “tiny truck” movement?
▼ + stars: | 2024-07-14 | by ( Erika Tulfo | ) edition.cnn.com time to read: +9 min

CNN —Measuring about half the length of a Ford F-150, Kei trucks look almost like toys in comparison to your standard pickup truck. Instagram page Kei Trucks Appreciation Society (@keitrucksas) sells Kei truck-themed merchandise from hoodies to stickers and posts memes for its more than 95,000 followers. On X, Kei truck fans share pictures of mini trucks they spot in the wild. Most states lack Kei-specific regulation entirely, and so far, only 19 states allow Kei trucks on public roads. And data from Edmunds showed that Americans were trading in more midsize and large pickup trucks for compact trucks than vice versa.

Persons: Kei, ”, George Zotos, Bill Pugliano, Zotos, Tetsu Ichino, “, I’ve, it’s, Andrew O’Bright, Kei truck’s, ” Zotos, Melissa Torre, Torre, Mark Schirmer, Mercedes ’ Smart, ” Schirmer, Ford, Edmunds, Ivan Drury, Drury, ’ Organizations: CNN, Ford, Silverado, American International Detroit Auto, Research, JDM Imports, Philadelphia, Torre, Daihatsu, Cox Automotive, Mercedes, Benz, Insurance Institute for Highway Safety, Ford Maverick, Hyundai, Hyundai Santa Cruz Locations: Japan, New York, Detroit , Michigan, Rockville , Maryland, Maryland, Chicago, Kei, U.S, Hyundai Santa

☆ How Boeing defrauded the United States and escaped with a slap on the wrist
▼ + stars: | 2024-07-13 | by ( Chris Isidore | Pete Muntean | ) edition.cnn.com time to read: +10 min

Boeing agreed to plead guilty to a charge that it defrauded the Federal Aviation Administration, hiding crucial information about a design flaw on the 737 Max during its original certification process. Boeing attorneys had it as part of their mission to make sure that its executives did not face any criminal charges, Lindquist said. A Boeing spokesman said the company had no comment about the anticipated guilty plea or the case beyond a brief statement confirming the agreement. Another way to make executives payEven if there are no criminal charges brought against executives, they can face significant penalties, Arlen said. Why Boeing will keep its government contractsThe most serious penalty that Boeing could face is by far the least likely – it could be barred from federal government contracts due to its guilty plea.

Persons: Critics, ”, Peter Goeltz, Goeltz, “ I’m, Moody’s, Paul Cassell, Jemal Countess, “, Mark Lindquist, Lindquist, FAA ”, Mark Forkner, ” Lindquist, there’s, that’s, Arlen, Dave Calhoun, Dennis Muilenburg, Calhoun, Max, Patrick Ryder, Robert Clifford, – CNN’s Natasha Bertrand Organizations: New, New York CNN, Boeing, Federal Aviation Administration, National Transportation Safety Board, CNN, ”, Alaska Airlines, Justice Department, FAA, Volkswagen, University of Utah, Ethiopian Airlines, Max, Alaska Air, DOJ, “, Department of Defense, Pentagon, Air Force, Department of Justice, they’re Boeing Locations: New York, Alaska, Indonesia

☆ Delta Changes Uniform Policy After Employees Seen With Palestinian Flag Pins
▼ + stars: | 2024-07-13 | by ( Emmett Lindner | More About Emmett Lindner | ) www.nytimes.com time to read: +1 min

Two Delta Air Lines flight attendants seen in a social media post wearing pins depicting the Palestinian flag caused an online uproar, a rogue response from a Delta employee and a change to the company’s uniform policy. The image, reposted on Wednesday, showed the flight attendants in a plane aisle with small Palestinian flag pins affixed to their uniforms. The post characterized the pins as “Hamas badges.”The post prompted a wave of criticism on social media aimed at the airline. Soon after the images were published, the official Delta account on X responded in solidarity. “On Wednesday, we removed a reply that was not in line with our values,” Delta said on social media.

Persons: “, ”, Delta Organizations: Delta Air Lines, Delta Locations: “

☆ Texas needs money to keep the lights on during extreme weather. It’s funding more fossil fuel instead
▼ + stars: | 2024-07-12 | by ( Ella Nilsen | ) edition.cnn.com time to read: +6 min

But rather than shuttling money into strengthening its grid to make sure the lights and A/C stay on during increasingly extreme weather, Texas is pouring billions of taxpayer dollars into new natural gas-fired power plants. Adding more electricity to the grid isn’t necessarily a bad thing because the state is facing higher demand, said Texas energy expert Doug Lewin, founder of consulting firm Stoic Energy. The state prioritizes natural gas power plants or backup natural gas generator systems. Centerpoint and other Texas utilities are no stranger to extreme weather. “In addition to extreme weather, the company’s service area also experiences heavy precipitation and extreme temperatures,” the company wrote in the report.

Persons: Beryl, Doug Lewin, ” Lewin, it’s, Texas Republicans ’, ” Michael Webber, Centerpoint, Joshua Rhodes, ” Rhodes, Rhodes, It’s, haven’t, doesn’t, ”, Alison Silverstein, Microgrids, Lewin, “ We’ve, “ That’s Organizations: CNN, Houston, Energy, Texas Republicans, University of Texas, Centerpoint Energy, UT Austin, Texas Public Service Commission Locations: Houston, Texas, Austin, “

☆ SpaceX Rocket Fails, Breaking Apart in Orbit
▼ + stars: | 2024-07-12 | by ( Kenneth Chang | ) www.nytimes.com time to read: +1 min

The second stage of a SpaceX Falcon 9 rocket sustained a rare but catastrophic failure Thursday night, disintegrating in orbit during the deployment of the company’s latest batch of Starlink internet satellites. In a posting on X two hours after launch, Elon Musk, the chief executive of SpaceX, reported that the rocket had suffered a “RUD” — rapid unscheduled disassembly — while in orbit. It remained uncertain whether SpaceX could salvage the 20 Starlink satellites jeopardized by the rocket malfunction. This is the first failure of a Falcon 9 rocket since 2016, when one exploded on the launchpad during the loading of propellants for an engine firing test. Between that explosion, which destroyed an Israeli satellite, and the malfunction on Thursday, SpaceX had enjoyed a streak of more than 300 successful Falcon 9 missions.

Persons: Elon Musk, ” Organizations: SpaceX

☆ When That Job Promotion Is Really a ‘Glass Cliff’
▼ + stars: | 2024-07-12 | by ( Jordyn Holman | More About Jordyn Holman | ) www.nytimes.com time to read: +1 min

When Boeing tapped Stephanie Pope to run its commercial airplanes division in March, positioning her to become the company’s first female chief executive, not all gender equity advocates were celebrating. Examples of the glass cliff abound. When Bed Bath & Beyond was crashing toward bankruptcy, it appointed Sue Gove as its first female chief executive. But some researchers think companies in crisis sometimes turn to women because they are perceived as having the soft skills needed to navigate difficult situations. The glass cliff is also prevalent in other countries and outside the corporate world: in government, sports leagues and at universities.

Persons: Stephanie Pope, Stephanie Linnartz, Armour, Sue Gove Organizations: Boeing, Companies

☆ Delta removes an employee, changes its uniform policy after backlash over social media post perceived to be anti-Palestinian
▼ + stars: | 2024-07-12 | by ( Mounira Elsamra | ) edition.cnn.com time to read: +5 min

“We apologize for this error.”On Wednesday, an account on X reposted pictures of two Delta flight attendants wearing Palestinian flag pins on their uniforms. Now imagine getting into a @Delta flight and seeing workers with Hamas badges in the air. What do you do?” the post read, falsely equating the Palestinian flag to the one flown by the militant group. The reply sparked a swift backlash from Delta employees and leaders in Palestinian and Muslim communities. However, effective Monday, the company will only allow US flag pins to be worn, Delta told CNN.

Persons: Delta, “, Azka Mahmood, ”, Mahmood, unionize, Omar Suleiman –, – Organizations: CNN, Delta, Islamic, Palestinian, CAIR, ” Locations: Palestinian, Georgia, Palestine, Ukraine, Israel, U.S

☆ Company debuts vending machines selling ammunition in 3 Southern states
▼ + stars: | 2024-07-12 | by ( Anissa Carand Navya Shukla | ) edition.cnn.com time to read: +2 min

CNN —Vending machines selling ammunition will now be in grocery stores in Alabama, Texas and Oklahoma – a move that has generated mixed feelings from officials in those states. Each machine sells ammunition for various firearm calibers, including rifles, shotguns and handguns, according to American Rounds. Earlier this month, the ammunition dispenser in Tuscaloosa, Alabama, was taken down and relocated by American Rounds. American Rounds plans to expand into more states, having already received offers from stores in California, Florida and Hawaii, among others, Magers said. The company, he said, is setting up two more dispensers in Texas and Colorado within the next couple of weeks.

Persons: Grant Magers, “ It’s, ” Magers, “, …, Kip Tyner, ” Tyner, Magers Organizations: CNN, Alcohol, Tobacco, Firearms, Explosives, Oklahoma, American Locations: Alabama , Texas, Oklahoma, Alabama, Texas, Tuscaloosa , Alabama, Tuscaloosa, California , Florida, Hawaii, Colorado

☆ Stop & Shop is closing 32 locations. Here’s where
▼ + stars: | 2024-07-12 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Stop & Shop is closing 32 underperforming grocery stores across the US northeast as part of the company’s efforts to improve its financial performance. Shoppers are also being squeezed by higher prices at the grocery store, with food prices experiencing modest upticks last month, according to the newest inflation report. Ahold Delhaize, the chain’s Dutch parent company, revealed the locations Friday adding that they will close in early November. Stop & Shop said it “remains committed to serving its communities through other store locations, online shopping and home delivery services.” Employees impacted by the closures will be offered other opportunities in the company. In addition to operating Stop & Shop, Ahold Delhaize owns Food Lion and Giant grocery stores in the US.

Persons: ”, Gordon Reid, Ahold Delhaize, Albertson’s, “, Delhaize, Newton, Jackson, Johnston, Pittman Organizations: New, New York CNN, Aldi, Kroger, Federal Trade Commission, ” Employees, Food, Here’s, St, Stamford, Plymouth St, Needham St, Highway, Boston Turnpike, Cooley St, Paterson, Edison, Howell, Phillipsburg, Fulton, Sanford, West Haverstraw Rhode, Pittman St Locations: New York, Dutch, New Jersey, Massachusetts, Connecticut, Rhode Island, Ansonia, Danbury, Bridgeport, Milford, High, Torrington Massachusetts, North Montello St, Brockton, Plymouth, Halifax, Needham, St, Pembroke, Raynham, Shrewsbury, Cooley, Springfield, Lincoln St . Worcester New Jersey, Franklin Township, County, Piscataway, Richmond, Pleasant Beach, Ringwood New York, Brooklyn, Hempstead Turnpike, East, ., Hempstead, Mt, Vernon, West Haverstraw, Providence, Eastside

☆ Your bank is about to reveal key information about the US economy’s health
▼ + stars: | 2024-07-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Dave Sekera, chief US market strategist at Morningstar, says that he’s watching for insights on banks’ delinquency rates. Consumers have increasingly fallen behind on or missed payments in recent months as they get squeezed by high interest rates. But banks could see higher losses compared to 2023 if the economy were to experience a downturn, the Fed warned. Investors are wagering that the central bank will begin easing rates as soon as September, according to the CME FedWatch Tool. “The worst outcome for all of us is what you call stagflation: higher rates and recession,” Dimon said in an interview with CNBC.

Persons: Wells Fargo, Goldman Sachs, Dave Sekera, Stocks, JPMorgan Chase, Jamie Dimon, Dimon, Matt Egan, it’s, ”, Joe Brusuelas, Mark Zandi, ” Zandi, “, Jerome Powell, Erika Tulfo, “ It’s, Neil Saunders, Abrigo, Gen Organizations: CNN Business, Bell, New York CNN, United, United States ’, JPMorgan Chase, Citigroup, Bank of America, Morningstar, Federal Reserve Bank of New, Fed, Federal Deposit Insurance Corporation, JPMorgan, CNBC, Federal, RSM, “, Moody’s, CNN, GlobalData, Apple Locations: New York, United States, Federal Reserve Bank of New York, China

☆ River Seine still not safe for swimming on most days due to E. Coli bacteria levels, with Olympics set to start on July 26
▼ + stars: | 2024-07-11 | by ( Billy Stockwell | ) edition.cnn.com time to read: +7 min

As recently as June 30, following rain the previous day, E. Coli levels increased to around 2000 CFU/100mL at Alexandra III Bridge. But E. Coli levels near Alexandra III Bridge still climbed to around 10000 CFU/100mL on the second day of rain. Longer term trends show there has been a “significant improvement” in water quality, according to Dan Angelescu, the company’s CEO. That’s more than three times higher than the level needed for “good” water quality, according to CNN’s calculation. In comparison, between June 24 and July 5, average E. Coli levels dropped to around 880 MPN/100mL, according to Fluidion.

Persons: CNN — Weeks, Alexandre III, ” Antoine Guillou, Mayor Anne Hidalgo, that’s, “, –, Emmanuel Dunand, ” Guillou, “ We’ve, Dan Angelescu, Dimitar Dilkoff, ”, Guillou, CNN’s Organizations: CNN, Olympic, Olympics, Paris, French, Mayor, France Inter, CFU, City, Palais, Getty, Authorities, Paris . Technology, Fluidion, Paralympic Games, Games Locations: Paris, Seine, Alexandra, City of Paris, AFP, ., Austerlitz, Alexandre, Essonne, Val, de, Marne

☆ Tractor Supply warned climate change and a lack of diversity would hurt business. Now it’s ignoring those risks
▼ + stars: | 2024-07-11 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Hal Lawton, the chief executive of the Brentwood, Tennessee-based company, had said these initiatives “make great business sense for Tractor Supply.”But Tractor Supply has decided that all of those risks are now worth ignoring. By walking away from diversity and climate goals, Tractor Supply has become the latest corporate giant to retreat from progressive initiatives it once promoted, joining Bud Light, Target and others. Tractor Supply declined to comment on these statements. Tractor Supply’s customer base has historically been primarily older men, who lean Republican, but Tractor Supply has increasingly tried to draw Millennials and women, who tend to favor Democrats. Tractor Supply’s reversal could hurt it with these customers, who could be crucial as the company’s historic base ages out of the market.

Persons: Hal Lawton, Bud, ”, Nooshin Warren, “ They’re, ” John Boyd, Steve Helber, Robby Starbuck, “, It’s, ” Boyd, Donald Trump, Joe Biden, ” Lawton, ” Eric Bloem, George Floyd, Bill Ackman, Elon Musk, They’ve, Chick, Bud Light, Jeff Chiu, Bud Light’s, influencer Dylan Mulvaney, CNN’s Eva Rothenberg Organizations: New, New York CNN, Tractor Supply, Supply, Human Rights, Bud Light, University of Arizona, National Black Farmers Association, AP Tractor Supply, Human, Tennessee’s, Congressional District, ”, Black Farmers Association, CNN, “, Tractor, Republican, Pew, Democratic, Disney, Nike, Anheuser, Busch InBev, Target Locations: New York, Brentwood , Tennessee, United States, America, Minneapolis

☆ How did the auto dealer outage end? CDK almost certainly paid a $25 million ransom
▼ + stars: | 2024-07-11 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +4 min

Pinpointing exactly who sends a cryptocurrency payment can be complicated by the relative anonymity that some crypto services offer. The ransom payment of $25 million hasn’t been previously reported. A $25 million ransom payment is certainly large but not unheard of in the lucrative ransomware economy. UnitedHealth Group, the health care conglomerate whose subsidiary suffered a ransomware attack in February that hobbled pharmacies across the US, paid a $22 million ransom to a different criminal group. But the average ransom payment in the fourth quarter of 2023 was significantly lower: $568,705, according to cybersecurity firm Coveware.

Persons: —, Chris Janczewski, CDK, Janczewski, Lisa Finney, Finney, Brian MacDonald, ” CDK, ”, Jon DiMaggio, Analyst1, ” DiMaggio Organizations: CNN, CDK, TRM Labs, Bloomberg, CBS, US Department of Health, Human Services, UnitedHealth Locations: North America, Chainalysis

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