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☆ Southwest Airlines to cut service and staffing in Atlanta to slash costs
▼ + stars: | 2024-09-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Southwest Airlines is planning to reduce service to and from Atlanta next year, cutting more than 300 pilot and flight attendant positions, according to a company memo seen by CNBC. The changes come a day before Southwest's investor day, when executives will map out the company's plan to cut costs and grow revenue as pressure mounts from activist investor Elliott Investment Management. Southwest told staff it isn't closing its crew base in Atlanta. Instead, it will reducing staffing by as many as 200 flight attendants and as many as 140 pilots, for the April 2025 bid month. Southwest isn't laying the crews off, but they will likely have to bid to work from other cities.

Organizations: Airlines, CNBC, Elliott Investment Management, Southwest, Hospitality Locations: Atlanta

☆ Salesforce may finally have found its AI footing. What it means beyond the initial hype
▼ + stars: | 2024-09-25 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

Bowing to investor pressure, Salesforce has adopted a more disciplined approach to dealmaking, increasing the importance of internal product development. "Agentforce is the product announcement [Salesforce] investors have sought for years," Needham analysts wrote in a recent note to clients. Salesforce stock remains down about 13% from its 2024 peak close and record high of $316.88 a share on March 1. CRM 1Y mountain Salesforce's stock over the past 12 months. Analysts said Salesforce is cheap compared to peers on multiple valuation metrics with ample room to increase free cash flow ahead.

Persons: Salesforce, Jim Cramer, Agentforce, Mulesoft, Needham, Einstein, —, Jim, Bofa, Baird, Piper Sandler, Piper, Jim Cramer's, Marc Benioff, Salesforce's Dreamforce, Justin Sullivan Organizations: Wall Street, Nasdaq, Barclays, Saks, Investors, Bank of America, CNBC, Getty Locations: Dreamforce, San Francisco, San Francisco , California

☆ UAE eyes ‘different architecture’ for a Middle East embroiled in conflict as it strengthens ties with the US
▼ + stars: | 2024-09-25 | by ( Mostafa Salem | ) edition.cnn.com time to read: +5 min

The UAE president’s visit to the US “was mostly and almost exclusively about the future,” Gargash said. One of the US’ closest allies in the Middle East and a major recipient of US arms, it hosts 5,000 US military personnel. Wary of being deprived of US technology, the UAE has since abandoned closer cooperation with China in the field of AI and semiconductors in favor of the US. Earlier this year, Abu Dhabi’s state-backed technology firm G42 announced it had agreed not to engage with Chinese companies for advanced technology. He said the two pillars of the UAE’s policy are stability and prosperity.

Persons: Biden, Kamala Harris, Jake Sullivan, Sheikh Mohammed bin Zayed, –, ” Biden, ” Sheikh Mohammed, ” Anwar Gargash, CNN’s Becky Anderson, ” Gargash, Abu, Donald Trump, Abu Dhabi’s, ”, Sheikh Mohamed, Gargash, Abu Dhabi Organizations: Abu Dhabi CNN, United, White, National, USA, UAE, Abu Dhabi, US Air Force, CNN, Biden, Huawei Technologies, Financial Times, NVIDIA, Blackrock, Microsoft, MGX Locations: Abu Dhabi, United Arab Emirates, Gaza, Lebanon, UAE, trailblazers, United States, Israel, China, Washington, Abu

☆ 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

☆ Sam Altman believes wars will be fought over AI unless there's massive spending on infrastructure. But that comes with a cost.
▼ + stars: | 2024-09-25 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +8 min

Read previewIn a Monday blog post, OpenAI CEO Sam Altman argued that massive investment in AI infrastructure is key to market dominance — and avoiding global conflict. "If we don't build enough infrastructure, AI will be a very limited resource that wars get fought over, and that becomes mostly a tool for rich people." Representatives for OpenAI did not respond to a request for comment from Business Insider. He noted that data centers consume tons of water for their cooling systems — some of which evaporates, so it cannot be reused. "Any human endeavor that involves an optimization challenge can be made more efficient through artificial intelligence," Coglianese said.

Persons: —, Sam Altman, Altman, OpenAI, Alex de Vries, de Vries, Goldman Sachs, Shaolei Ren, he's, Ren, Cary Coglianese, Coglianese, we'll, I'm Organizations: Service, Business, Microsoft, BlackRock, White, Meta, Big Tech, University of California, University of Pennsylvania Locations: United States, United Nations, Riverside

☆ Trump's already massive New York civil fraud penalty has grown by $24M in interest ahead of a Thursday court showdown
▼ + stars: | 2024-09-25 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

(For perspective, Trump's 2016 settlements in three Trump University fraud cases totaled $25 million.) AdvertisementTrump has denied any fraud, and his lawyers argue in their appeal that the judgment is unjustified, legally flawed, and excessive. By winning his appeal, Trump would also dodge the judgment's non-monetary punishments, which are many. Winning would mean Trump, Donald Trump, Jr., and Eric Trump would no longer face being banned for two years from running Trump Org or any other business in New York state. By appealing, Trump has kept all of these fraud punishments on ice, with the exception of the Trump Org monitoring, which is ongoing.

Persons: —, Donald Trump, John Sauer, ometer, Trump, Arthur Engoron, Donald Trump's, Letitia James, Engoron, He'd, Donald Trump , Jr, Eric Trump, Read Organizations: Service, Trump, Business, Trump University, D, New, Trump Organization, Trump's, Trump Org Locations: New York, Manhattan, Trump's Manhattan

☆ 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

☆ Caroline Ellison, former FTX exec and Sam Bankman-Fried's ex-girlfriend, sentenced to 2 years in prison
▼ + stars: | 2024-09-24 | by ( Minyvonne Burke | Minyvonne Burke Is A Senior Breaking News Reporter For Nbc News. | ) www.nbcnews.com time to read: +3 min

Caroline Ellison, whose testimony helped convict her former boss and ex-boyfriend, disgraced cryptocurrency mogul Sam Bankman-Fried, was sentenced Tuesday to two years in prison for fraud and conspiracy. Ellison, 29, accepted a plea deal to charges of conspiracy and financial fraud in December 2022, a month after FTX spiraled into bankruptcy. Bankman-Fried was convicted of all seven criminal fraud charges against him and sentenced to 25 years in prison. Lawyers for Ellison had asked that she be sentenced to time served and supervised release, citing her cooperation. Ryan Salame, a former top lieutenant of Bankman-Fried, was the first of the FTX executive team to be sentenced.

Persons: Caroline Ellison, Sam Bankman, Ellison, Judge Lewis A, Kaplan, FTX spiraled, Fried, Prosecutors, John Ray, disentangling, FTX, Ryan Salame, Nishad Singh, Gary Wang Organizations: FTX, CNBC, Bankman, U.S, Alameda Research, Super Bowl Locations: U.S, Manhattan, Bahamas, Washington, Caribbean, Bankman

☆ Why Nvidia stock is surging, and the lesson to be learned from Home Depot's rally
▼ + stars: | 2024-09-24 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, we've, Jensen Huang, Huang, Oppenheimer, –, We've, Cintas, Jim Cramer's, Jim Organizations: CNBC, China, Tech, Nvidia, Devices, Broadcom, Jim Cramer's Charitable

☆ 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

The Chinese central bank's largest stimulus measures since Covid should provide the world's second-largest economy with a much-needed boost, which should help our portfolio companies doing business there. The Club has a broad range of companies with significant sales exposure to China, and some with none. Here's a look at the percentages in our 32 stock portfolio, as well as recent earnings call commentary, about the business climate and the potential in China. On the industrial side, DuPont has the most China exposure because of its electronics and water businesses. Eaton and Dover don't have nearly as much China exposure.

Persons: Donald Trump, Kamala Harris, Biden, Colette Kress, Tim Cook, Brian Niccol, Gamble, Andre Schulten, Peter Arduini, Lori Koch, Stanley Black, —, Jeff Marks, Jim Cramer's, Jim Cramer, Jim, Peng Organizations: People's Bank of China, Wall, Commodities, Republican, House, Democratic, Trump, Broadcom, Nvidia, AMD, Nvidia's, Apple, Starbucks, Investors, Huawei, Jefferies, Consumer, Procter, Barclays, GE Healthcare, GE, DuPont, Banking, Coterra Energy, Investing, Jim Cramer's Charitable, CNBC Locations: Asia, China, America, U.S, Eaton, Dover, People's Republic of China

☆ Will Caroline Ellison get jail time for her role in the $11 billion FTX fraud scheme? Here's what the judge must weigh.
▼ + stars: | 2024-09-24 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

Read previewOn Tuesday, a judge will decide what sentence to give Caroline Ellison, who pleaded guilty to conspiring with Sam Bankman-Fried in an $11 billion fraud scheme. Ellison's sentencing sets up a high-stakes balancing test. She still participated in a massive fraud scheme, after all, the value of which he put at $11 billion. Ellison was the SBF trial's star witnessEllison pleaded guilty to fraud and money laundering for her role in the FTX scandal. Because the Bankman-Fried case went to trial, Kaplan has a lot of information at his disposal when deciding Ellison's sentence.

Persons: —, Caroline Ellison, Sam Bankman, Lewis Kaplan, Bankman, Fried, Ellison, Kaplan, FTX, cooperators, Sarah Krissoff, Cozen O'Connor, Joshua Naftalis, That's, Naftalis, Fried JANE ROSENBERG, John J, Ray III, Ryan Salame, Salame's, Gary Wang, Nishad Singh, Ellison's, Krissoff Organizations: Service, Business, Alameda Research, LLP, Prosecutors, Fried JANE ROSENBERG Prosecutors, Securities Exchange Commission, Commodity Futures Trading Commission, Government, MIT, Bankman Locations: Bankman, Manhattan, Alameda, New York, Brooklyn

Elliott Management said Tuesday it will call a special meeting at Southwest Airlines "as soon as next week," shortly after the company put forward a sweeping board shakeup that it hoped might stave off a proxy fight. The push comes days before the airline's investor meeting, where it is expected to unveil improvements and operating changes. Southwest's shareholder meeting is typically scheduled for May, but by calling for a special meeting Elliott is looking to elect new directors much sooner than that. Earlier this month, executive chairman and former CEO Gary Kelly said he would step down after the carrier's shareholder meeting next year. "The need for change is urgent, and our request for a special meeting may come as soon as next week," Pike and Xu said.

Persons: Elliott, Bob Jordan, Gary Kelly, John Pike, Bobby Xu, Pike, Xu, Andrew Watterson, Robert Jordan Organizations: Elliott Management, Southwest Airlines, Airlines, Aircraft Mechanics Fraternal Association

☆ Leaders from the CIA, Dell Technologies, HP, SageCXO, and ezCater share how they keep up with AI development
▼ + stars: | 2024-09-24 | by ( Helen Li | Emma Cosgrove | ) www.businessinsider.com time to read: +14 min

John Roese, the global chief technology officer and chief AI officer of Dell Technologies. In the long term, those two have to come closer together to achieve the speed necessary for an AI cycle. So the quality of what you produce in your organization as a CTO — if you're going to provide models built in-house — better be superstar quality, or no one's using it. Once you understand that those are high level, then you have to ask if you are actually on a path where if you apply AI, you're going to get to an outcome. DeCesare: I've been most inspired to drive the leverage of AI through the company by finding out how people have applied it.

Persons: Emma Cosgrove, La'Naia Jones, John Roese, Elaine Zhou, Faisal Masud, Erin DeCesare, What's, it's, Claude, It's, She's, ChatGPT, Cosgrove, we've, cocreate, that's, We've, Masud, That's, they're, Jones, You've, Everyone's, Aaron, Jensen, Huang, I've Organizations: Business, BI's, CIA, Dell Technologies, HP, Star, Amazon, Nvidia Locations: Spain, Madrid, Silicon

☆ TSMC and Samsung in talks with UAE to build chip megafactories, WSJ reports
▼ + stars: | 2024-09-23 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

South Korea-based Samsung Electronics has also been considering investing in building chip manufacturing facilities in the country in the coming years. The Gulf state has been ramping up efforts and investments in developing its domestic tech industry as it works to build its position as a global hub for advanced technology and artificial intelligence. However, the discussions with UAE officials are still in the early stages, the report said. A tug-of-war between the U.S. and China has played out in the region as tech deals speed up and Washington grows increasingly wary over Beijing's influence in the Gulf state. TSMC and Samsung have held discussions with U.S. officials who are worried about potential shipments of advanced AI chips coming from UAE-based plants to China.

Persons: Alex Capri Organizations: Dubai International Financial, Global, Taiwan Semiconductor Manufacturing Co, Samsung Electronics, United, Street, TSMC, South Korean, UAE, U.S, Samsung, National University of, CNBC, Wall Locations: Dubai, United Arab Emirates, Burj, Gulf, Taiwan, South Korea, China, Washington, UAE, The U.S

☆ Behind the scenes at the Murdoch family's secret court fight
▼ + stars: | 2024-09-23 | by ( Peter Kafka | ) www.businessinsider.com time to read: +11 min

The biggest story in media right now has nothing to do with sexting. But recently, Rupert Murdoch has been trying to change those plans, and pass along full control to Lachlan Murdoch, who now has the CEO title at both News Corp and Fox. AdvertisementElisabeth Murdoch and her father, Rupert Murdoch, pictured in 2010. I think Lachlan would hope to figure out ways to keep on keeping on. Related storiesThroughout his career, Rupert Murdoch was always willing to sell assets he'd spent time and money acquiring.

Persons: Rupert Murodoch's, Murdoch, haven't, Rupert Murdoch's, Lachlan, James, Elisabeth, Prudence —, Rupert Murdoch, Lachlan Murdoch, David Folkenflik, Elisabeth Murdoch, Samir Hussein, he'd, didn't, I've, Rupert, Prudence Murdoch, Prudence MacLeod, Evan Agostini, It's, He's, it's, NPR's David Folkenflik, Gabriel Sherman, you've, Suzanne Scott, who've Organizations: Service, Fox News, Business, — News Corp, New York Post, Street Journal, Fox Corp, Fox, News Corp, HBO, Trump . Fox News, Disney, Sky News, Capitol, NPR, Nevada Supreme, Court, Corp, Old Media, Fair, NBC, Street Locations: Reno , Nevada, Nevada, Rupert's, Australia, Reno

☆ Where Harris is outspending Trump the most
▼ + stars: | 2024-09-23 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +4 min

Read previewAs Vice President Harris and former President Donald Trump enter the most expensive stretch of the election, their respective spending habits say a lot about the state of the race. And while polls may be tight, the money race isn't — Harris is outspending Trump by approximately $5 million every single day, according to the most recent federal filings. Harris is outspending Trump in ad buys in every single swing state, Bloomberg reported based on data from AdImpact. AdvertisementNeither the Trump nor Harris campaigns immediately responded to Business Insider's request for comment. Trump is outspending Harris in terms of direct mail by a ratio of approximately three-to-one.

Persons: —, Harris, Donald Trump, isn't — Harris, outspending Trump, Trump, Anne Hathaway, Whoopi Goldberg, Timothy Mellon, Elon Musk, outspending Harris, doesn't Organizations: Service, Business, Bloomberg, Democratic, Cipriani Wall, New York Times, Big, Trump, Elon, Labor, Musk's America PAC Locations: Pennsylvania, Michigan , Georgia, Arizona , Wisconsin, North Carolina, Nevada, Michigan, Georgia , Wisconsin , Arizona, Silicon Valley, San Francisco, Los Angeles

☆ 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

☆ I love being a middle manager. Amazon's decision to cut middle managers saddens me — this role is misunderstood.
▼ + stars: | 2024-09-23 | by ( Elle Hardy | ) www.businessinsider.com time to read: +5 min

I landed my current role in PR middle management through a Facebook mentoring groupThe CEO, Tiffany Joy Murchison, led a session I joined and asked the class what we wanted to discuss. In middle management, there's an adjustment phase where you adapt to established procedures. AdvertisementI think many middle managers feel undervalued because it's not a lane many want to be in. Amazon's recent announcement that they're cutting down on middle managers saddens me. Middle managers are crucial in bridging communication between executives and staff, ensuring operations run smoothly.

Persons: —, Michelle Busch, I've, Tiffany Joy Murchison, We'll, we're, Lauryn Haas Organizations: Service, Business, TJM, Media, lhaas Locations: Washington ,, Brooklyn , New York, New York

☆ 6 things from my San Francisco trip reveal which stocks are AI winners
▼ + stars: | 2024-09-22 | by ( Jim Cramer | ) www.cnbc.com time to read: +14 min

Almost everyone else seems to want to deploy AI in some meaningful way but don't seem to know how. It's available on HP 's AI personal computers right now but hasn't really attracted a lot of interest yet — good for Club company Best Buy 's forward earnings. For some companies, companies like CVS , this is a no brainer. One that can build things or get things or just give you a cup of your coffee. I don't know what will happen to people who are doing this now.

Persons: Jensen Huang, Marc Benioff, Copilot, hasn't, Uber, San Francisco —, Amazon's, Benioff, Benioff's, Agentforce, Tesla, Elon, Donald Trump, Pat Gelsinger, gunning, Lisa Su, Jensen, Su, wasn't, Nvidia's Blackwell, Blackwell, Mike Sievert, Jim Cramer's, Jim Cramer, Jim, Carlos Barria Organizations: Microsoft, Club, Nvidia, Oracle, HP, Devices, AMD, Saks Fifth, CVS, Siemens, Starbucks, Intel, Qualcomm, Arm Holdings, Enterprise, Constellation Energy, GE Vernova, Apple, Mobile, Jim Cramer's Charitable, CNBC Locations: San Francisco, Atlanta, Austin , Texas, Dreamforce, bailiwick, Eaton, Dover, California

☆ There's a Reason Elon Musk Isn't Fighting for Speech Rights in France: Expert
▼ + stars: | 2024-09-22 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

AdvertisementBut an expert on corporate law told Business Insider that there's a reason the billionaire isn't taking his battle of free speech principles to, say, France. Musk has previously complied with content moderation requests from other governments, including the increasingly authoritarian nations of Turkey and India. In 2023, he indicated he would abide by the European Union's rulebook on content moderation, known as the Digital Services Act, Politico reported. Alon-Beck told BI that, in countries like France with strict laws around content moderation, Musk is no different than Durov, and she would expect he could be arrested if he continues to push the boundaries of local content moderation laws. AdvertisementRepresentatives for X, Telegram, and the Brazilian Supreme Court did not immediately respond to requests for comment from Business Insider.

Persons: —, Elon Musk, X, Musk, Alexandre de Moraes, cosplaying, ZIV8KbDCmk — Elon, isn't, Pavel Durov's, Pavel, Anat Alon, Beck, Pavel Durov, Durov, Alon, Elon, Tucker Carlson Organizations: Service, Elon, New York Times, Brazil's, SpaceX, Business, The Times, Case Western Reserve University's School of Law, Alon, Digital Services, Politico, Telegram, X, Brazilian Locations: Brazil, France, Turkey, India

☆ Boeing machinists on picket lines prepare for lengthy strike: 'I can last as long as it takes'
▼ + stars: | 2024-09-21 | by ( Leslie Josephs | ) www.cnbc.com time to read: +7 min

Matt Mills Mcknight | ReutersRENTON, Wash. — Cash-strapped Boeing is facing mounting costs from an ongoing machinist strike as workers push for higher pay. The financial cost of the strike on Boeing depends on how long it lasts, though ratings agencies have warned that the company could face a downgrade if it drags on too long. Boeing 737 Max planes sit at the airport in Renton, Washington. Boeing Machinists union members count votes to accept or reject a proposed contract between Boeing and union leaders and whether or not to strike if the contract is rejected, at the Aerospace Machinists Union Hall in Seattle, Washington, on September 12, 2024. Boeing's most recent offer included 25% general wage increases over a four-year deal and was endorsed by the machinists union, the International Association of Machinists and Aerospace Workers District 751.

Persons: Matt Mills Mcknight, Cash, Boeing machinists, Boeing hasn't, Kelly Ortberg, Leslie Josephs, Louis, Jake Meyer, Meyer, Ron Epstein, Jason Redmond, today's, Ortberg, Biden, Pete Buttigieg, CNBC's Organizations: Boeing, Reuters, CNBC, Max, state's, Financial Management, Federal Reserve Bank of St, Bank of America, Aerospace Machinists, Hall, AFP, Getty, International Association of Machinists, Aerospace Workers, Workers Locations: Renton , Washington , U.S, Reuters RENTON, Wash, Seattle, Pacific Northwest, Renton , Washington, Renton, machinists, Washington, South Carolina, Seattle , Washington, Pacific, Oregon

☆ ‘The Boyfriend,’ Japan’s first same-sex reality show, hopes to normalize LGBTQ romance in the country
▼ + stars: | 2024-09-20 | by ( ) www.nbcnews.com time to read: +6 min

The untroubled July arrival of the country’s first same-sex dating reality show, “The Boyfriend,” on streamer Netflix, may be another sign that normalization of queerness in Japan is on the way. “It’s no different from the familiar reality shows we’ve seen before. The only thing that felt odd or questionable was that, while there have been plenty of heterosexual reality shows, there have been so few featuring same-sex couples, and none in Japan,” casting director Taiki told Variety. The commentators included central host Megumi, an entertainer; drag queen Durian Lollobrigida; Tokui Yoshimi, a veteran of previous reality shows including “Terrace House”; Horan Chiaki; and style diva Thelma Aoyama. “As this was Japan’s first romance reality show featuring male same-sex relationships, it was crucial to have someone from that community in the studio,” Lollobrigida told Variety.

Persons: “, we’ve, ”, Taiki, Dai, Shun, Taehon, inoffensively, Roche, Kimura Hana, Hishida Keisuke, Ota Dai, Durian Lollobrigida, Tokui, Horan Chiaki, Thelma Aoyama, ” Lollobrigida, …, Kitano Takeshi, they’re, ’ Organizations: Netflix, New York Times, Fuji Television, Kyodo Television, Netflix Japan, “, Tokyo Locations: Japan, East Asia, Shinjuku Ni, “ Terrace

The Federal Trade Commission said Friday that it is suing three drug middlemen, accusing them of inflating insulin prices. PBMs work with insurance companies to negotiate discounted prices from drug companies in exchange for including the drugs in their coverage. The drug was priced at $274 in 2017, as a result of the PBMs rebate system strategy, the FTC said. In July, Democratic and Republican lawmakers blamed executives from Caremark, Express Scripts and Optum Rx for sky-high prescription drug prices in the U.S. during an oversight committee hearing. The lawsuit also comes as states — most recently Vermont — have sued PBMs, alleging they drive up drug costs.

Persons: Cigna, Eli Lilly, Rahul Rao, It’s, Raja Krishnamoorthi, PBMs Organizations: Federal Trade Commission, FTC, CVS, Cigna's, Zinc Health, Ascent Health, Emisar Pharma Services, UnitedHealth, CVS Health, Novo Nordisk, Democratic, Republican, Caremark, New York Times, Republicans, ” Rep Locations: U.S, FTC’s, Vermont

☆ Ikea's fleet of 250 autonomous drones takes stock of warehouse inventory without any human intervention
▼ + stars: | 2024-09-20 | by ( John Kell | ) www.businessinsider.com time to read: +9 min

Three years ago, a drone took flight at an Ikea warehouse in Switzerland for the first time. They're more self-sufficient, too: For every 10 minutes that a Verity drone is in flight, it charges for 20 minutes. Ikea's investments in Verity's drone technology fit into its broader strategy to explore and test newer supply-chain technologies. Jönsson added that deploying drones has allowed employees to have more time for analyzing inventory data. Before using warehouse drones, workers would check thousands of pallets repeatedly in order to manage inventory.

Persons: Verity, —, Raffaello D'Andrea, — there's, Uber, Jeff Bezos, Bezos, Domino's, there's, DroneUp, D'Andrea, Verity hasn't, it's, Moller, Erik Jönsson, they're, haven't, Jönsson Organizations: Ikea, Chain Management, Service, Amazon, Walmart, Companies, McKinsey & Company, McKinsey, Ikea's, Ingka, Maersk, Samsung Group, Ingka Investments, Nvidia, Federal Aviation Administration, Investors, Kiva Systems, Amazon Robotics, Qualcomm Ventures, A.P, Moller Holding, Exor Ventures Locations: Switzerland, Swiss, Dutch, —, Zealand, Arizona , Florida, Utah, Dallas

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