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☆ Attention Kmart shoppers: The last full-size Kmart in the mainland United States is closing
▼ + stars: | 2024-09-23 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Kmart, once one of America’s leading discount retailers, is closing its last full-size store in the mainland United States. It also has stores in Guam and the US Virgin Islands, where it does not face competition from more successful big box stores. At the time of the 2005 merger Kmart had about 1,400 stores and Sears nearly 900 full-line US stores. Today only a handful of Sears stores remain, although it has outlets thatoperate under the Sears Hometown brands. The chain grew rapidly for several decades, claiming the discount segment of the market that big box stores now dominate.

Persons: Transformco, Eddie Lampert, Lampert, Sebastian Spering Kresge Organizations: New, New York CNN, Kmart, Sears, Sears Holdings, Virgin Islands, Walmart, Target, Sears Hometown Locations: New York, United States, Bridgehampton , New York, Long, Miami, Guam, Virgin, Detroit

☆ Using options to trade the AI-driven power generation buildout
▼ + stars: | 2024-09-23 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

Power generation has emerged as a crucial investment theme in the context of artificial intelligence (AI) energy demand due to the significant electricity requirements of AI technologies. Several factors make power generation a vital AI-adjacent investment theme: Data centers, the backbone of AI operations, are among the largest electricity consumers. Investing in power generation becomes vital to support this expanding infrastructure. Fluor offers a wide range of services in the nuclear power sector, including project management, engineering, procurement, construction, and maintenance. The company has experience developing new nuclear power plants and maintaining, refurbishing, and decommissioning existing ones.

Persons: Fluor's, FLR, I've Organizations: Bechtel, KBR, Fluor Corporation, Corporation, Fluor, NuScale, CNBC, NBC UNIVERSAL Locations: Irving , Texas, Fluor

☆ When I quit my job, I made many mistakes and almost burned bridges. Here's what you should do instead.
▼ + stars: | 2024-09-23 | by ( Georgie Tzintzis | ) www.businessinsider.com time to read: +5 min

At the end of my work days, I often found myself sitting in my car, bursting into tears. All of this prompted me to quit my job in the worst way possible. My actions created discomfort at the officeLater that day, my boss sent an email to everyone detailing my resignation. Instead, I lied, which any boss would be able to see through, and that created distrust in those last four weeks. I didn't burn any bridges, but there was a sour taste left in both our mouths.

Persons: —, could've Organizations: Service, Business

☆ Stock market today: Indexes extend gains as investors gear up for fresh economic data
▼ + stars: | 2024-09-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Investors await key economic data this week, including consumer confidence, revised GDP growth, and the PCE Index. Minneapolis Fed President Neel Kashkari defended the recent rate cut and sees more cuts ahead. AdvertisementUS stocks rose on Monday, with the S&P 500 and Dow Jones Industrial Average testing record highs as investors prepare for fresh economic data this week. Investors will get consumer confidence data on Tuesday, another revision to second-quarter GDP growth on Thursday, and fresh inflation data on Friday with the release of the personal consumption expenditures index. The chatter comes just a few days after the Fed cut interest rates by 50 basis points at the end of its policy meeting last Wednesday.

Persons: Dow Jones, Neel Kashkari, —, Kashkari Organizations: Dow, Minneapolis, Service, Dow Jones, Federal, Governors, CNBC, Fed, Here's

☆ There's only one new car for sale for less than $20,000
▼ + stars: | 2024-09-23 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +1 min

Nissan announced that the 2025 Versa subcompact sedan will start at $17,190. It will be the cheapest new car on sale in the US and the only one to start under $20,000. The 2025 Versa comes standard with a 122-horsepower four-cylinder engine and a manual transmission. AdvertisementThe cheapest new car for sale in America is about to get more expensive. That's $500 more than before but still cheap enough to claim the title of cheapest new car on the market.

Persons: —, Kia Forte Organizations: Nissan, Service, Mitsubishi, Business Locations: America

☆ I found out my partner cheated with multiple people. I chose to stay in the relationship.
▼ + stars: | 2024-09-23 | by ( Stephanie B. | ) www.businessinsider.com time to read: +5 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. I didn't spend my 20s and 30s dating around or in multiple relationships, and after my divorce, I wasn't interested in doing much of that, either. Finding out about the infidelity was tough; finding out it was with multiple people was devastating. Related storiesBut throughout all of that, I didn't leave, and I didn't want them to leave, either. I felt like a failure for not wanting to leaveI felt like a failure in a lot of ways.

Persons: —, gaslighting Organizations: Service

☆ Employees angry about RTO mandates have essentially no legal path to fight them
▼ + stars: | 2024-09-23 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +5 min

Your boss says the company does not plan to require employees to return to the office. Some workers have filed lawsuits against their companies or charges with the National Labor Relations Board over RTO mandates. AdvertisementBut remote employees who simply argue that returning to the office is an inconvenience to their lifestyle have "zero chance" to fight the RTO mandate with legal action, Zambrano said. AdvertisementHowever, said Camacho Moran, just because an employee has an illness or a disability "does not mean that remote work is the appropriate accommodation." Reasonable accommodations under the ADA can include modifying a work schedule or workplace setting, as well as moving to remote work.

Persons: —, Ron Zambrano, Zambrano, Domenique Camacho Moran, Farrell Fritz, Camacho Moran, " Zambrano, it's Organizations: Service, Business, Trial, Amazon, Walmart, National Labor Relations Board Locations: California, Seattle, New York

☆ I paid $120 for a fine-dining experience narrated by AI. High-brow restaurants should take notes.
▼ + stars: | 2024-09-23 | by ( Fiona Clair | ) www.businessinsider.com time to read: +1 min

I paid $120 to experience Venhue's 90-minute, tech-forward tasting menu. I'm not sure I got the point of the flashing video screens, but the food and drinks were great. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The Manhattan restaurant, which opened in October, markets itself as a 90-minute communal dinner party with a $109 unpretentious tasting menu.

Persons: I'm, —, Venhue Organizations: Service, Business Locations: York, Manhattan

☆ China's youth unemployment hits fresh high amid economic slowdown and restrictive hiring policies
▼ + stars: | 2024-09-23 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

China's youth unemployment rate in August rose to the highest level since the new system of record-keeping began in December, data from the National Bureau of Statistics showed, amid an economic slowdown. China's urban unemployment rate across all age categories rose 5.3% in August, compared to a 5.2% climb in July. China paused reporting the youth unemployment rate for much of the latter half of last year while it reassessed its calculation methods. China's youth unemployment has also been affected by restrictive hiring policies amid a struggling economy as companies are refusing to hire recent college graduates due to the difficulty and costs involved in firing workers in China. "That's why the [overall] unemployment rate isn't that bad but the unemployment rate for youths is so high," Rein added.

Persons: That's, Dan Wang, Shaun Rein, Rein Organizations: National Bureau, Statistics, HSBC, China Market Research, People's Bank of Locations: China, People's Bank of China

☆ ABBA’s Björn Ulvaeus marries for third time, with ‘Bake Off’ star Sandi Toksvig officiating
▼ + stars: | 2024-09-23 | by ( Amarachi Orie | ) edition.cnn.com time to read: +2 min

CNN —ABBA legend Björn Ulvaeus has tied the knot for the third time, marrying his partner Christina Sas on Saturday in a ceremony officiated by comedian and ex-“Great British Bake Off” host Sandi Toksvig. “Today on the 21st of September 2024, Björn Ulvaeus married Christina Sas from Herning, Denmark,” a statement posted on the 79-year-old songwriter and guitarist’s Instagram page reads. Former "Great British Bake Off" host Sandi Toksvig married the couple in Copenhagen, Denmark. Ulvaeus married Fältskog in 1971 and Andersson and Lyngstad wed in 1978. Ulvaeus married Lena Kallersjö in 1981 but the pair divorced after 41 years of marriage in 2022, a year after ABBA reunited.

Persons: Björn Ulvaeus, Christina Sas, Sandi Toksvig, ”, guitarist’s, Mike Marsland, ABBA’s, ” Toksvig, Ulvaeus ’, Toksvig, Ulvaeus, Agnetha Fältskog, Benny Andersson, Anni, Frid Lyngstad, Fältskog, Andersson, Lyngstad, Mamma Mia, ” Ulvaeus, Lena Kallersjö Organizations: CNN, British, PA Media, ABBA Locations: “, Herning, Denmark, Copenhagen, German, Nuremberg, ”

☆ We finally got a rate cut. Here’s what history says will happen next
▼ + stars: | 2024-09-23 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

New York CNN —So we finally got a rate cut — and a supersized one at that. However, a recession started immediately when the Fed cut rates in July 1990 and just two months after it cut in January 2001. Unemployment rate: generally risesOn average, for those six cycles, the unemployment rate rose by 1.4 percentage points a year after the Fed cut rates. For instance, a year after the Fed cut rates in July 1995, the unemployment rate was unchanged at 5.5%. In the other four instances, the unemployment rate was at least a percentage point higher a year after the Fed cut rates.

Persons: Jerome Powell, it’s, Michelle Bowman Organizations: New, New York CNN, Fed, Consumer Locations: New York, stoke

☆ Political scientist discusses UAE president's official U.S. visit
▼ + stars: | 2024-09-23 | 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 EmailPolitical scientist discusses UAE president's official U.S. visitAbdulkhaleq Abdulla, political scientist and author, says there's a need for a "new phase" in the United Arab Emirates' relationship with the United States.

Persons: Abdulkhaleq Abdulla Organizations: UAE president's, United Arab Locations: United Arab Emirates, United States

☆ Lebanon sees deadliest day of conflict since 2006 as Israeli strikes kill more than 356
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +5 min

The Israeli military said Monday evening it had carried out a targeted strike in Beirut. Lebanese Health Minister Firass Abiad told a news conference in Beirut the earlier strikes hit hospitals, medical centers and ambulances. The Israeli military announced it hit some 800 targets, saying it was going after Hezbollah weapons sites. Meanwhile, Hezbollah said in a statement that it fired dozens of rockets toward Israel, including at military bases. Lebanon's state-run National News Agency said the strikes hit a forested area in the central province of Byblos for the first time since the exchanges began.

Persons: Rabih Daher, Benjamin Netanyahu, Netanyahu, Abed, Hezbollah's, Firass Abiad, Mahmoud Zayyat, Daniel Hagari, Herzi Halevi, Israel, Halevi, Rafael, Ibrahim Aqil Organizations: Afp, Getty, Lebanese, National News Agency, Lebanese Health, Iran's, Guards, Hezbollah, Sunday, Hamas, Associated Press, Fighters Locations: Marjayoun, Lebanon, Israel, Sidon, Beirut, Lebanon's, Bekaa, Byblos, Lebanese, Syria, Haifa, Gaza, Iran, Beirut's

☆ Biden proposes banning Chinese vehicles from U.S. roads with software crackdown
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +5 min

The Biden administration has raised serious concerns about the collection of data by Chinese companies on U.S. drivers and infrastructure through connected vehicles as well as about potential foreign manipulation of vehicles connected to the internet and navigation systems. The planned regulation, first reported by Reuters, would also force American and other major automakers in the coming years to remove key Chinese software and hardware from vehicles in the United States. The U.S. Commerce Department on Monday proposed prohibiting key Chinese software and hardware in connected vehicles on American roads due to national security concerns - a move that would effectively bar nearly all Chinese cars from entering the U.S. market. The move is a significant escalation in the United States' ongoing restrictions on Chinese vehicles, software and components. The rules would apply to all on-road vehicles but exclude agricultural or mining vehicles not used on public roads.

Persons: Joe Biden, Biden, Gina Raimondo, Raimondo, We're, Jake Sullivan, Sullivan, Jan Organizations: White, White House, Reuters, U.S . Commerce Department, United, National, Embassy, U.S, The Commerce Department, Alliance, Automotive Innovation, General Motors, Toyota, Hyundai Locations: Rose, Washington ,, United States, U.S, Yantai, Shandong province, Russia, China, Washington

☆ US proposes ban on smart cars with Chinese and Russian tech
▼ + stars: | 2024-09-23 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +5 min

CNN —The US Commerce Department on Monday will propose a ban on the sale or import of smart vehicles that use specific Chinese or Russian technology because of national security concerns, according to US officials. The rule would not apply to cars already on the road in the US that already have Chinese software installed, a senior administration official told CNN. The software ban would take effect for vehicles for “model year” 2027 and the hardware ban for “model year” 2030, according to the Commerce Department. If millions more smart cars with vulnerable, Chinese-made tech are on US roads, “the risk of disruption and sabotage increases dramatically,” he said. “China opposes the US’s broadening of the concept of national security and the discriminatory actions taken against Chinese companies and products,” said Lin Jian, spokesman for China’s Foreign Ministry, in a statement.

Persons: Gina Raimondo, Commerce Department’s, Biden, Raimondo, ” Raimondo, “ We’ve, Jake Sullivan, ”, Lin Jian, CNN’s Shawn Deng Organizations: CNN, US Commerce Department, Commerce Department, Tesla, Commerce, PRC, House, China’s Foreign Ministry, Kaspersky Locations: China, Russia, United States, Europe, Russian

☆ Oil edges up following U.S. rate cut move, geopolitical concerns
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +2 min

Oil prices gained slightly during early trade on Monday, boosted by concerns conflict in the Middle East may impact supply in the key producing region and expectations the U.S. interest rate cut last week will support demand. Both contracts rose in the previous session on support from the U.S. interest rate cut and a dip in U.S. supply in the aftermath of Hurricane Francine. Last Wednesday, the U.S. Federal Reserve cut interest rates by half a percentage point, a larger decrease in borrowing costs than many expected. Interest rate cuts typically boost economic activity and energy demand, but analysts and market participants are concerned the central bank may see a slowing job market. "Sentiment was buoyed by the Fed's rate cut amid hopes it can engineer a soft landing for the economy," said ANZ.

Persons: Hurricane Organizations: Brent, U.S . Federal Reserve, ANZ Locations: Houston , Texas, Israel, Iranian, Iran, Lebanon

☆ European soccer roundup: Erling Haaland scores 100th Manchester City goal in controversial game against title rival Arsenal
▼ + stars: | 2024-09-23 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +8 min

The two sides met at City’s Etihad Stadium on Sunday with both teams eager to strike first in this year’s title race. Just before half-time, Arsenal attacker Leandro Trossard committed a foul before kicking the ball across the pitch, earning a controversial second yellow card. Matt West/ShutterstockAfter being reduced to 10 players, Arsenal manager Mikel Arteta adopted a highly defensive shape to try and protect the lead. “I think the win belongs to the players and for our fans,” Fonseca said after the game. A chaotic first half saw visiting Wolfsburg take a 3-2 lead before Piero Hincapié leveled things up shortly after half-time.

Persons: Erling Haaland, Pep Guardiola’s, Rodri, Riccardo Calafiori, Gabriel Magalhães, Leandro Trossard, Trossard, Michael Oliver, Matt West, Mikel Arteta, John Stones, Kyle Walker, ”, Robert Lewandowski, Ayoze Pérez, Pablo Torre, David Ramos, –, Marc, André ter Stegen, Blancos, Thibaut Courtois, Dani Carvajal, Rodrygo, Vinícius Jr, Mbappé, Carlo Ancelotti’s, Atlético, Matteo Gabbia, Christian Pulisic, Yann Sommer, Milan's Tijjani Reijnders, Alessandro Bastoni, Marco Luzzani, Federico Dimarco, Gabbia, Paulo Fonseca, ” Fonseca, we’ve, Serie A’s, Michael Olise, Jamal Musiala, Harry Kane, Serge Gnabry, Christina Pahnke, ” Kane, Kane’s, Xabi, Piero Hincapié, Victor Boniface Organizations: CNN, England’s Premier League Arsenal, Manchester, Premier League, City’s Etihad, Arsenal, Gunners, Londoners, City, BBC Radio, BBC Sport, La Liga Barcelona, Villarreal, La Liga, Torre, Catalans, Real Madrid, Espanyol, Madrid hasn’t, Barcelona, Serie, Italy’s, Milan, Internazionale, Derby, San, US, Inter, Torino, Hellas Verona, Germany’s Bundesliga, Bayern, Bundesliga, Dinamo Zagreb, Champions League, Werder Bremen, Getty, Bayer Leverkusen, Wolfsburg, Leverkusen Locations: Villareal, Raphinha, Milan, Bayern Munich, lederhosen, AFP

☆ CNBC Daily Open: Some aren’t convinced of a soft landing
▼ + stars: | 2024-09-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Stephanie Keith | Getty ImagesThis 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. In terms of financial markets, financial firm BTIG sees a possible pullback. Last week's burst of euphoria was mostly driven by anticipation and celebration of the Fed's rate cut. Markets this week will look at the hard data coming out, like GDP figures for the second quarter, consumer confidence and PCE report.

Persons: Stephanie Keith, It's, Piper Sandler, Nancy Lazar, Lazar, BTIG, Jonathan Krinsky, –, Alex Harring, Hakyung Kim, Brian Evans Organizations: New York Stock Exchange, CNBC, Friday, FedEx, Nasdaq, Dow Locations: New York City

☆ Arrowheads shed light on who fought in Europe’s oldest known battle
▼ + stars: | 2024-09-23 | by ( Ashley Strickland | ) edition.cnn.com time to read: +9 min

Inselmann collected literature, data and examples of more than 4,700 Bronze Age arrowheads from Central Europe and mapped out where they came from to compare them with the Tollense Valley arrowheads. Otherwise, they would expect to find evidence of arrowheads within ceremonial burials in the region that were practiced during the Bronze Age. “This new information has considerably changed the image of the Bronze Age, which was not as peaceful as believed before,” Terberger said. I consider the conflict as a sign that this major transformation process of Bronze Age society was accompanied by violent conflicts. Ute BrinkerThe scale of conflictThe large scale of battle has researchers rethinking what social organization and warfare were like during the Bronze Age.

Persons: ’ ”, Leif Inselmann, “, Inselmann, ” Inselmann, Thomas Terberger, haven’t, Barry Molloy, Molloy, ” Molloy, ” Terberger, ”, Ute Brinker, —, ’ Organizations: CNN, Berlin Graduate School of Ancient Studies, Free University of Berlin, Germany’s University of Göttingen, University College Dublin, ” Locations: Germany, Europe, Central Europe, Mecklenburg, Pomerania, Bavaria, Moravia, Tollense

☆ Britain's finance minister calls for spending discipline but no return to austerity
▼ + stars: | 2024-09-23 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Britain's Chancellor of the Exchequer Rachel Reeves speaks on the second day of the annual Labour Party conference in Liverpool, north-west England, on September 23, 2024. Liverpool, ENGLAND — U.K. Finance Minister Rachel Reeves vowed on Monday that Britain will not return to austerity, but said she would make hard choices as she lays out budget proposals next month. "It will be a budget with real ambition ... a budget to deliver the change we promised. A budget to rebuild Britain," she told a crowd of Labour party delegates Monday. Reeves has suggested that taxes are likely to rise at her upcoming Oct. 30 Autumn budget after discovering a £22 billion ($29 billion) "black hole" in the public finances.

Persons: Rachel Reeves, heckles, Keir Starmer, Reeves, Jeremy Hunt Organizations: Labour Party, Finance, Labour, Conservative Party, Conservatives Locations: Liverpool, England, ENGLAND, Britain

☆ A millennial left his job to start a consulting business and booked $400k in revenue in the first year. He shares his advice on launching a startup.
▼ + stars: | 2024-09-23 | by ( John Towfighi | ) www.businessinsider.com time to read: +7 min

Read previewMario Vasquez Zuniga, 29, got a taste of entrepreneurship three years before he launched his own business. In 2023, Vasquez Zuniga quit his job and cofounded Collective, a consulting firm, with former colleague Thea Appling. Vasquez Zuniga is a first-generation college graduate who earned his degree from San Francisco State University in 2016. Vasquez Zuniga has another advantage: He's a native Spanish speaker, and he said nearly all of the people he works with are bilingual. Vasquez Zuniga added that setting milestones is also key for new entrepreneurs.

Persons: —, Mario Vasquez Zuniga, Vasquez Zuniga, Thea Appling, " Vasquez Zuniga, who's, undervalue, they've, hasn't Organizations: Service, Lucas Public Affairs, Business, Treasury Department, Bureau of Labor Statistics, San Francisco State University, Small Business Administration, CPA, Sacramento Valley Small Business Development Center, Immigrants Locations: Palmdale , California, Sacramento, El Salvador, Spanish

☆ Rate-drop environment could be the key 'reopen the spigot' for IPOs, says Rashaun Williams
▼ + stars: | 2024-09-23 | 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 EmailRate-drop environment could be the key 'reopen the spigot' for IPOs, says Rashaun WilliamsRashaun Williams, Value Investment Group founder, joins CNBC's 'Closing Bell' to discuss what rate cuts could mean for venture-backed companies, how he feels about earnings expectations, and more.

Persons: Rashaun Williams Rashaun Williams Organizations: Value Investment Group

☆ American wrongfully detained in Iranian prison responds to criticism over US making deal for his freedom
▼ + stars: | 2024-09-23 | by ( Jonathan Steinmetz | ) edition.cnn.com time to read: 1 min

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☆ Video: See how this at-home nurse program is making a difference for new mothers
▼ + stars: | 2024-09-23 | by ( Channon Hodge | ) edition.cnn.com time to read: 1 min

CNN —The surviving co-founder of the company that owned the doomed Titan submersible is scheduled to testify Monday as a US Coast Guard panel continues to investigate what led to the implosion that killed five people last year. The Marine Board of Investigation’s two-week hearing began September 16 and is expected to resume Monday with OceanGate co-founder Guillermo Sohnlein, who in January 2013 left the company, set to testify, the Coast Guard’s hearing schedule shows. In 2009, Sohnlein and CEO Stockton Rush launched the Washington state-based company that created the experimental 23,000-pound submersible. The submersible lost contact with its support vessel, the Polar Prince, an hour and 45 minutes into its dive on June 18, 2023. Former OceanGate director of marine operations David Lochridge, center, stands during his testimony on September 17, 2024.

Persons: OceanGate, Guillermo Sohnlein, Sohnlein, Shahzada Dawood, Suleman Dawood, Hamish Harding, Paul, Henri Nargeolet, Sohnlein’s, CNN’s Anderson Cooper, Rush, ”, ” Sohnlein, David Lochridge, Andrew J, Whitaker, ” Lochridge, Steven Ross, Ross, Antonella Wilby, Wilby, ‘, ’, ” Roy Thomas, Phil Brooks Organizations: CNN, US Coast Guard, Marine Board, Stockton Rush, Marine Board of Investigation, Coast Guard, American Bureau of Shipping Locations: Washington

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