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☆ Sima Sistani, who embraced Ozempic, is out as CEO of WeightWatchers
▼ + stars: | 2024-09-27 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —WeightWatchers CEO Sima Sistani, who pushed the company into embracing weight-loss drugs, is leaving the position after a two-year stint. “These medications have shown, and science has evolved to say, that living with obesity is a chronic condition. Winfrey joined the board in 2015 and bought a 10% stake, immediately giving the beleaguered company relevance. Tara Comonte, a WeightWatchers board member and a former CEO of Shake Shack, will become the interim CEO effective immediately, the company said in a release. Prior to joining the company in June 2023, she was the CEO of a fertility technology company.

Persons: Sima Sistani, ” Sistani, Oprah Winfrey, Winfrey, Tara Comonte, Comonte’s, ”, Thilo Semmelbauer Organizations: New, New York CNN, CNN, National Museum of, Shake Locations: New York

☆ What’s fueling this week’s record-breaking stock rally
▼ + stars: | 2024-09-27 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

New York CNN —The stock market is racking up record highs again. Investors are wasting no time moving into riskier assets from bitcoin to tech stocks after last week’s long-awaited rate cut from the Federal Reserve. Fresh data this week has offered further encouragement that the economy is on solid footing. Applications to refinance a mortgage soared 20% last week from the prior week, according to Mortgage Bankers Association data. Meanwhile, tech shares have continued to gain this week on rate cut optimism and after Micron reported strong earnings.

Persons: Dow, FactSet, ”, Gregory Daco, Freddie Mac, Bitcoin Organizations: New, New York CNN, Federal Reserve, Dow, Nasdaq, Federal, Mortgage Bankers Association, Investors, Employers, Micron, Nvidia, Meta, Financial Times Locations: New York, China, Saudi Arabia

☆ Moo Deng now has her own crypto, because of course she does
▼ + stars: | 2024-09-27 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

Moo Deng crypto. Given the sudden popularity of Moo Deng, the Thai national treasure whose name roughly translates as “bouncy pork,” it was only a matter of time before someone turned her into a digital asset. And given the nature of such memecoins, which have zero underlying value and trade purely on vibes, it’s no surprise Moo Deng Coin has shot up 1,400% since it was created less than three weeks ago. (It should be noted that crypto traders suspect this anonymous Moo Deng booster is an “insider,” since they bought the coin four hours after its creation, per the crypto news site Decrypt. Moo Deng coin is just the latest product of a niche online culture that also birthed Dogecoin (created as a joke to dunk on bitcoin) and Shiba Inu coin (a joke to dunk on Dogecoin).

Persons: Moo Deng, it’s, Deng, Shiba Inu Organizations: New, New York CNN Locations: New York, Thai

☆ She was one of the only Black women in her engineering program. Now, this MIT grad is using dance to introduce a new generation to STEM
▼ + stars: | 2024-09-27 | by ( Meg Dunn | ) edition.cnn.com time to read: +4 min

“I think my parents’ careers in the STEM fields made it so that I always believed that I could also do something in STEM,” Toussaint said. While she had a love for math, the dance studio was her “home away from home,” she said. In 2012, she created STEM From Dance, a nonprofit program that integrates dance with STEM education to make these subjects more engaging and accessible. “When I first started the dance part, I really liked it,” recalled Myrtha Plaisime, 14, a STEM From Dance participant. CNN“That feeling that they get, we want them to remember that and … remember that they are celebrated for doing things in STEM,” Toussaint said.

Persons: New York CNN — Yamilée Toussaint, “, ” Toussaint, ”, CNN Hero Yamilée Toussaint —, CNN Hero Yamilée Toussaint — CNN “ It’s, Toussaint, Plaisime, Myrtha Plaisime, ‘, ’ ” Toussaint Organizations: New, New York CNN, CNN, CNN Hero Yamilée Toussaint — CNN, MIT Locations: New York, Brooklyn

☆ Port workers from Maine to Texas are set to strike Tuesday. Expect shortages and higher prices
▼ + stars: | 2024-09-26 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +10 min

It represents the major shipping lines, all of which are foreign-owned, as well as terminal operators and port authorities. Depending on duration, a strike could mean shortages of consumer and industrial goods, possibly driving up prices again. That labor peace has helped them capture market share from West Coast ports that have historically had more contentious labor relations. But he said the shipping lines appear unwilling to pay what it takes this time. The shipping lines realize the problem with having Biden order the union back to work, said Tirschwell.

Persons: Luke Sharrett, Patrick Anderson, ”, USMX, Harold Daggett, John McCown, containerization, Brendan Smialowski, Peter Tirschwell, “, Republican Donald Trump, ” Tirschwell, hasn’t, Jonathan Gold, ” Gold, Biden, Joe Biden, Taft, Hartley, George W, Bush, Bradley Saunders, Daggett, ’ ” Organizations: New, New York CNN, US Maritime Association, International Longshoremen’s Association, BMW, Port, Bloomberg, Getty, ILA, Anderson Economic Group, “, P Global Market Intelligence, Federal Maritime Administration, Republican, National Retail Federation, North, Capital Economics, United Auto Workers Locations: New York, Maine, Texas, East Coast, Gulf, Gulf Coast, of New York, New Jersey, Port Wilmington, Delaware, Port, Baltimore, Port of Charleston, South Carolina, Charleston , South Carolina, West Coast, Michigan, Port of Baltimore, Baltimore , Maryland, AFP, East, North American

☆ We may have finally pulled ourselves out of our economic funk
▼ + stars: | 2024-09-26 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

After two years of the double pain of inflation and high interest rates, those things are normalizing. Sure, jobs were plentiful and the economy was growing, but the combination of high prices and high interest rates felt demoralizing. It’s hard to overstate how much interest rates can change the economic mood, Brendan Duke, a senior director for economic policy at the Center for American Progress, told me. And while both Vice President Kamala Harris and former President Donald Trump have proposed ways to increase the housing supply, the process will take years. “There are economic trends like falling interest rates, and there are policies like making an investment in housing supply that can move the needle,” Duke says.

Persons: CNN Business ’, New York CNN —, Matt Phillips, Dow, That’d, Brendan Duke, ‘ it’s, ’ ”, that’s, Kamala Harris, Donald Trump, It’s, ” Duke, they’re Organizations: CNN Business, New York CNN, Dow, Wall, Center for American Progress, National Association of Realtors Locations: New York, Canada, Australia, New Zealand

☆ Wendy’s takes aim at McDonald’s broken McFlurry machines with a $1 Frosty
▼ + stars: | 2024-09-26 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —McDonald’s has become notorious for its broken ice cream machines — there’s even an independent website that monitors broken McFlurry machines. Wendy’s is selling small-sized, $1 Frosty frozen dairy desserts until September 30 — and it’s collaborating with McBroken, which reports which McDonald’s locations have broken ice cream machines. Nearly 15% of McDonald’s ice cream machines are broken as of Thursday, according to McBroken’s data. McBroken was created a few years ago by Rashiq Zahid, who was also frustrated by the lack of working ice cream machines at McDonald’s. Eugene Gologursky/Getty ImagesIf the ice cream machine is offline, the McDonald’s app will remove the ice cream order from the cart, he said.

Persons: New York CNN — McDonald’s, Frosty “, ’, There’s, McBroken, Rashiq Zahid, Frosty, Eugene Gologursky, McDonald’s, Wendy’s Organizations: New, New York CNN, McBroken, CNN Locations: New York, Chicago, Houston, Las Vegas , New York, Los Angeles, Wendy’s

☆ The Post Office wants stamp prices to rise five times in the next three years
▼ + stars: | 2024-09-26 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Three things seem certain to happen in life: death, taxes and the prices of stamps going up. The United States Postal Service announced that First-Class postage, currently at 73 cents, will go up five times through 2027, according to a detailed document submitted this week to the Postal Regulatory Commission. The next price hike is planned for July 2025 and will then repeat “each January and July thereafter” through the end of 2027, the agency said. However, all price changes must be approved by the Postal Regulatory Commission and the specific price hikes weren’t announced. First-Class mail is becoming a smaller part of the Postal Service’s business because of online communication.

Persons: ”, Louis DeJoy, “ Organizations: New, New York CNN, United States Postal Service, Postal Regulatory Commission, weren’t, USPS Locations: New York

☆ Murdoch family holds its breath as future of media empire hangs in the balance
▼ + stars: | 2024-09-26 | by ( Hadas Gold | ) edition.cnn.com time to read: +3 min

Murdoch and his eldest children descended on a Reno courthouse to appear for evidentiary hearings in a secret trial to determine whether the 93-year-old can alter the family trust that he established decades ago, giving his four oldest children equal votes over the future of his conservative media empire after he dies. Murdoch wants to amend the trust so that his eldest son and chosen successor, Lachlan, will remain in charge for decades to come. But the three other Murdoch children — James, Elisabeth and Prudence — oppose the change, and have challenged it in court. In the coming days or weeks, a probate commissioner will issue a report and recommendation on whether Murdoch can change the family trust, according to Elyse Tyrell, an attorney in Las Vegas who specializes in trusts and estates. Each party will then have 10 days to object to his report and recommendation, Tyrell said.

Persons: Rupert Murdoch’s, Murdoch, Lachlan, James, Elisabeth, Prudence —, Elyse Tyrell, Tyrell, ” Tyrell, “, ” Organizations: New, New York CNN, Fox News, The New York Times, Wall Street, Fox, Street, New York Post, CNN, Nevada Supreme Locations: New York, Reno, Las Vegas, Nevada, Australia, American

☆ Hoda Kotb is leaving NBC’s ‘Today’
▼ + stars: | 2024-09-26 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Hoda Kotb, the co-anchor of NBC’s morning show, “Today,” is leaving her position early next year, she announced Thursday. Kotb has co-hosted the program with Savannah Guthrie since 2017, taking over from Matt Lauer, who was fired following allegations of inappropriate sexual behavior at work. “It was time for me to turn the page at 60,” Kotb said on “Today” Thursday while holding back tears. Kotb joined NBC in 1998, first as a correspondent on the “Dateline” newsmagazine and was named the co-host of the 10 am hour of “Today” in 2008 with Kathie Lee Gifford In 2019, Jenna Bush Hager took over the role. A replacement for both of her roles, at 7 am through 9 am and at 10 am, weren’t announced.

Persons: Hoda Kotb, Kotb, Savannah Guthrie, Matt Lauer, ” Kotb, “, Kathie Lee Gifford, Jenna Bush Hager, Guthrie, weren’t Organizations: New, New York CNN, NBC, Dateline, ” Locations: New York, Savannah, “

☆ Southwest reveals when and how it will get rid of open seating
▼ + stars: | 2024-09-26 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Southwest Airlines’ substantial changes to its business and boarding process are coming – but not for a while. Southwest announced in July it would move away from the open seating model it has been known for throughout its 53-year history. It also announced it would offer premium seating for the first time. Part of the reason Southwest isn’t rolling out its assigned seating model sooner is that premium seating will take some time to reconfigure in the planes. It did not give details for when the premium seating with more legroom between seats would be available.

Persons: Elliott, Icelandair Organizations: New, New York CNN, Southwest Airlines, Southwest, Elliott Investment Management, United, Delta, Baltimore - Washington International Airport Locations: New York, Southwest, Baltimore

☆ Meta is bringing the voices of Judi Dench, John Cena and Keegan-Michael Key to AI chatbot
▼ + stars: | 2024-09-25 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —Facebook and Instagram users will now be able to talk to voices that sound a lot like John Cena and Judy Dench. Parent company Meta (META) announced Wednesday that it is adding voice conversations and celebrity voices to its artificial intelligence chatbot, Meta AI. Now, instead of simply messaging with the chatbot, users can have real-time conversations and can choose from a selection of computer-generated or celebrity voices. The company partnered with Cena and Dench, as well as actors Kristen Bell, Awkwafina and Keegan-Michael Key, to train the chatbot to replicate their voices. Previously, influencers could train AI to have text conversations with their followers; now, followers will be able to have full, quasi-video calls with the AI versions of influencers who use the tool.

Persons: John Cena, Judy Dench, Cena, Dench, Kristen Bell, Awkwafina, Michael Key, Mark Zuckerberg, it’s, OpenAI, Scarlett Johansson, Johansson, Zuckerberg Organizations: New, New York CNN, Facebook, Meta, Keegan, Meta Connect Locations: New York

☆ Here we go again: Egg prices are spiking. Here’s why
▼ + stars: | 2024-09-25 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

Egg prices spiked by 28.1% in August from 12 months ago, easily the biggest increase out of any food item tracked by the Bureau of Labor Statistics. The main culprit for rising egg prices is a familiar one: bird flu. Where egg prices are rising the mostStill, the current BLS average of $3.20 per dozen eggs remains high. Zooming in to focus on just the past year, Datasembly found that egg prices have increased the most in Hawaii (+49%), Minnesota (+44%) and Alabama (+38%). When egg prices spiked to record highs in early 2023, Cal-Maine’s profit skyrocketed 718%.

Persons: ”, Phil Lempert, they’ve, Price, Brian Moscogiuri, Datasembly, Moscogiuri, graf, ” Moscogiuri, Kevin Bergquist, Musharbash, Emily Metz, ” Metz, Lempert, “ Organizations: New, New York CNN, Bureau of Labor Statistics, Centers for Disease Control, Prevention, US Department of Agriculture, USDA, CNN, Shoppers, Food Institute, Farm, Maine Foods, Cal, Basel Musharbash, Monopoly, American Egg Board, SNAP Locations: New York, Minnesota, Missouri, Iowa, Oklahoma, Alabama, Hawaii, Wells, United States, Cal, Maine, Basel, Texas

☆ Mira Murati, OpenAI’s technology chief, becomes the latest exec to leave the company
▼ + stars: | 2024-09-25 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —OpenAI Chief Technology Officer Mira Murati — who has been instrumental in the development of ChatGPT and the artificial intelligence image generator Dall-E — said Wednesday she is leaving the company. “My six-and-a-half years with the OpenAI team have been an extraordinary privilege,” Murati said in a note to the OpenAI team, which she posted to X. Fellow OpenAI co-founder John Schulman exited in August to join rival Anthropic. Murati joined OpenAI’s leadership team in 2018 after working at augmented reality company Ultraleap (then called Leap Motion) and Tesla. During the debacle, Murati joined more than 500 fellow OpenAI employees in threatening to quit if Altman was not brought back to the company.

Persons: Mira Murati —, —, “, ” Murati, “ There’s, shakeup, OpenAI, Ilya Sutskever, John Schulman, Greg Brockman, Murati, Sam Altman, Altman, Mira, ”, ” Altman Organizations: New, New York CNN, OpenAI, Bloomberg, OpenAI’s, Tesla, o1 Locations: New York, Silicon Valley

☆ Alex Jones’ conspiracy theory empire Infowars will be sold for parts to help pay Sandy Hook families
▼ + stars: | 2024-09-25 | by ( Hadas Gold | ) edition.cnn.com time to read: +4 min

Anyone can place a bid for Infowars, including its dubious dietary supplement store, and use the property for any reason. Nothing would prevent him from continuing to broadcast under a new owner, although he would still need to pay off the debt he owes the Sandy Hook families with any earnings he may receive. There’s also nothing stopping Jones from continuing to speak about the Sandy Hook massacre or the families. The only way Jones would be prevented from speaking about Sandy Hook entirely is through a separate settlement with the families. But even if all of Jones’ personal intellectual property is sold off along with Infowars, it’s unlikely to make more than a small dent in the amount he owes the Sandy Hook families.

Persons: Alex Jones ’, Jones, Sandy, Christopher Mattei, Sandy Hook, Alex Jones, ” Mattei, There’s, “, ” Jones, ” Organizations: New, New York CNN, Free Speech Systems, Elementary, ThreeSixty, Systems, Infowars Locations: New York, Texas, Connecticut, Sandy

☆ Another unforced error by Boeing is souring the new boss’ good vibes
▼ + stars: | 2024-09-25 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Less than two months into his tenure as CEO, Ortberg has largely understood the assignment. See here: We’re nearly two weeks into a strike by Boeing’s largest labor union. Initially, Ortberg seemed to have buy-in from labor leaders, who publicly acknowledged that the new boss was walking into a conflict that predated him by 16 years. All of that gave the new boss, who spent his first day at work touring a factory floor, a kind of pro-labor halo. “This tactic is a blatant show of disrespect” to union members and the bargaining process, the International Association of Machinists wrote Monday.

Persons: CNN Business ’, Kelly Ortberg, Ortberg, ’, ”, International Association of Machinists, “, “ We’ve, Wheaton, ” Wheaton, ’ …, ” It’s, it’s, ” Ortberg, It’s, Richard Aboulafia, ” Aboulafia, what’s, …, CNN’s Chris Isidore Organizations: CNN Business, New York CNN, Boeing, machinists, International Association of, Cornell University’s School of Industrial and Labor Relations Locations: New York, what’s

☆ Gold’s hitting new records again. Here’s what it means for the economy
▼ + stars: | 2024-09-25 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

Gold, traditionally perceived as a haven, has climbed roughly 30% this year, outperforming the benchmark S&P 500 index’s 20% gain. Fresh consumer confidence data on Tuesday indicated that Americans are feeling pessimistic about the US economy and future of the job market. JPMorgan Chase researchers said in a note on Monday that they expect the yellow metal to continue running toward their 2025 target price of $2,850 an ounce as the Fed brings down rates. Silver, another precious metal that tends to move in tandem with gold, has jumped roughly 34% this year, outperforming the yellow metal. New moves from China to revive its economy also has the potential to lift precious metals, said Rhind.

Persons: Jerome Powell, ”, Kristina Hooper, JPMorgan Chase, “ There’s, Will Rhind, Rhind Organizations: New, New York CNN, Federal Reserve, Traders, JPMorgan, Treasury, GraniteShares, Citi Locations: New York, China, Turkey, India, China’s

☆ Visa is being sued for illegal monopoly that adds to the price of ‘nearly everything’
▼ + stars: | 2024-09-24 | by ( Hannah Rabinowitz | ) edition.cnn.com time to read: +3 min

New York CNN —The US Justice Department filed a lawsuit Tuesday accusing Visa of illegally monopolizing the debit card market. The antitrust suit is one of several major actions taken by the Justice Department recently. It also comes just three years after the Justice Department sued to block Visa from merging with financial technology startup Plaid. According to the new complaint against Visa, which was filed in federal court in New York, more than 60% of debit transactions in the country take place on Visa’s debit network. Visa, in turn, is able to charge more than $7 billion in processing fees on those transactions, the department says.

Persons: General Merrick Garland, “, ” Organizations: New, New York CNN, US Justice Department, Visa, CNN, Justice Department, Google, Plaid, ” Merchants, Mastercard, National Retail Foundation Locations: New York

☆ Coca-Cola is pulling Spiced, its newest ‘permanent’ flavor, from store shelves
▼ + stars: | 2024-09-24 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Coca-Cola is discontinuing the production of its new Spiced flavor just six months after the soda hit shelves, marking the end of a disappointing attempt to attract younger drinkers. “As part of this strategy, we’re planning to phase out Coca-Cola Spiced to introduce an exciting new flavor in 2025,” a spokesperson said. The short lifespan of Spiced Coke is surprising, because the company promoted it as a permanent flavor. Coca-Cola introduced Spiced Coke in February with a splashy ad campaign. The beverage blended the traditional Coke flavor with raspberry notes.

Persons: ”, Coke, DJ Marshmello, Sue Lynne Cha, ” Cha, “, Coke’s Organizations: New, New York CNN, Dreamworld, North America, “, CNN Locations: New York

☆ Over 400 economists and ex-officials endorse Kamala Harris
▼ + stars: | 2024-09-24 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —More than 400 economists and former high-ranking US policymakers are endorsing Vice President Kamala Harris and her vision for the American economy, according to a document announcing the endorsement seen by CNN. “The choice in this election is clear: between failed trickle-down economic policies that benefit the few and economic policies that provide opportunity for all,” the endorsement document reads. Harris plans to roll out new policies on what she calls the “opportunity economy” during a speech in Pennsylvania, another key battleground state, on Wednesday. Several notable economists threw their weight behind Harris, including University of Michigan economist Justin Wolfers and Claudia Goldin, who won the Nobel Prize last year for tracking women’s labor participation and the evolving wage gap. The endorsement argued that Harris has a “proven track record of economic leadership,” crediting her with efforts as vice president to lower costs, cut taxes and raise wages.

Persons: Kamala Harris, Harris, Donald Trump’s, Brian Deese, Obama, Jason Furman, Bill Daley, Penny Pritzker, Clinton, Robert Reich, Alan Blinder, Donald Trump, ”, Trump, Sean O’Keefe, George W, Justin Wolfers, Claudia Goldin, Marty Walsh, Deval Patrick, Larry Summers, Robert Rubin, Mark Cuban, James Murdoch, he’s, Bill Ackman, Peter Thiel, Tesla, Elon Musk, ” Harris, Jamie Dimon, Dimon, Jeffrey Sonnenfeld, Sonnenfeld Organizations: New, New York CNN, CNN, Federal Reserve, Management, NASA, University of Michigan, House, Labor, Massachusetts Gov, Democratic, JPMorgan Chase, JPMorgan, Wall Street, Trump, Yale, That’s Locations: New York, Georgia, Pennsylvania, United States, America, Dimon

☆ FAA boss: Boeing still must make ‘significant changes’ to improve quality and safety
▼ + stars: | 2024-09-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Boeing still has to make “significant changes” to improve the quality and safety of its airplanes, according to the head of the Federal Aviation Administration. “There must be a shift in the company’s safety culture to holistically address its systemic quality assurance and production issues,” he will say, according to his remarks. The incident sparked numerous federal investigations into Boeing, and numerous congressional hearings that raised questions about its quality and safety of its planes. Whitaker is set to say that Boeing must make “significant changes” to address “systemic production quality issues.” And his remarks also promise that the FAA will be more active in oversight of both Boeing and its primary supplier, Spirit AeroSystems, which Boeing is in the process of purchasing. “We have added more safety inspectors in the Boeing and Spirit AeroSystems facilities, and we will maintain our increased on-site presence for the foreseeable future,” he will say, according to his remarks.

Persons: Michael Whitaker, Max, ”, “, Whitaker’s, Whitaker, Joe Buccino Organizations: New, New York CNN, Boeing, Federal Aviation Administration, Alaska Airlines, FAA, Reuters, CNN Locations: New York, Alaska

☆ Caroline Ellison, whose testimony helped convict Sam Bankman-Fried, faces her own sentencing
▼ + stars: | 2024-09-24 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —A year ago, Caroline Ellison was preparing to testify against her former boss and ex-boyfriend in one of the biggest fraud trials in US history. Ellison, who ran Alameda, pleaded guilty to seven federal counts of fraud and conspiracy shortly after FTX’s collapse. A jury last year convicted former crypto billionaire Sam Bankman-Fried on multiple counts of federal fraud and conspiracy. Over three days on the stand, Ellison, who is 29, repeatedly reinforced that throughout her years at Alameda, the buck stopped with Bankman-Fried. While sentencing is entirely up to Judge Kaplan’s discretion, legal experts say it’s highly unlikely Ellison will end up in prison.

Persons: CNN Business ’, Caroline Ellison, she’ll, FTX, Ellison, Sam Bankman, Lewis Kaplan, Ellison’s candor, Angela Weiss, “ Sam, ”, Dennis Kelleher, “, Kaplan’s, Jordan Estes, Kramer Levin, Josh Naftalis, Kaplan, Pallas, Ryan Salame, Nishad Singh, Gary Wang Organizations: CNN Business, New York CNN, Alameda Research, Getty, Better, of, New, Bankman Locations: New York, Alameda, Bankman, of New York

☆ Americans are drowning in credit card debt. Trump’s proposed cap on interest rates probably won’t help
▼ + stars: | 2024-09-24 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

At $1.14 trillion, Americans’ credit card debt is at a record high, according to data from the Federal Reserve Bank of New York. “While working Americans catch up, we’re going to put a temporary cap on credit card interest rates,” Trump said at a rally last week. You may not be able to count on your credit card for purchasesThe average American has racked up $6,500 in credit card debt, according to Experian data from the third quarter of last year. The reason: Interest rates are how credit card companies manage the risk that a customer won’t pay their credit card bill on time. Your favorite credit card rewards could be jeopardizedEven if you don’t currently have any credit card debt and have a top-tier credit score, you could be left worse off from a 10% credit card fee cap.

Persons: New York CNN —, Donald Trump’s, ” Trump, Republican Sen, Josh Hawley, Sen, Bernie Sanders, Alexandria Ocasio, Matt Schulz, “, Schulz, Karoline Leavitt, ” Leavitt, Banks, Joe Biden’s, ” Schulz, ” Organizations: New, New York CNN, Federal Reserve Bank of New, Republican, CNN, Trump Locations: New York, Federal Reserve Bank of New York, Congress, Alexandria, Cortez

☆ Cards Against Humanity sues Elon Musk’s SpaceX over land it bought on Texas border
▼ + stars: | 2024-09-23 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —In 2017, adult party game Cards Against Humanity bought land on the US-Mexico border to meddle with former President Donald Trump’s border wall. Now it’s suing over that land after another controversial billionaire has allegedly moved in without permission. Chicago-based Cards Against Humanity LLC, the publisher of the popular card game, filed a $15 million civil lawsuit Thursday against Elon Musk’s SpaceX over alleged trespassing on its lot in Cameron County, Texas. While the Cards Against Humanity’s land was vacant when purchased, the lawsuit claimed SpaceX began encroaching on its property, which is located just three miles away from SpaceX’s Starbase launch facility. The lawsuit claimed by allowing Musk’s company “to essentially steal the Property from CAH without remorse or even explanation,” CAH’s reputation with its supporters would be damaged.

Persons: Donald Trump’s, it’s, Musk, CAH Organizations: New, New York CNN, Humanity, Elon Musk’s SpaceX, SpaceX, Trump Locations: New York, Mexico, meddle, Chicago, Cameron County , Texas, Hawthorne , California, Starbase , Texas

☆ Boeing is raising its offer to end the strike
▼ + stars: | 2024-09-23 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +3 min

New York CNN —Boeing said Monday it has raised its offer to the International Association of Machinists union to end the strike by 33,000 union members that has now entered its 11th day. “We heard your feedback,” said a statement from Boeing to union members on its website. But it did not restore the traditional pension plan that union members lost 10 years ago in a previous labor agreement. An IAM spokesperson said the union did not have an immediate comment on the new offer. In a decision that took place just before the strike began, 95% of union members voted against the previous tentative labor agreement.

Persons: “, ”, “ We’ve Organizations: New, New York CNN, Boeing, International Association of, IAM, Union Locations: New York, West Coast, South Carolina

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