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Trump is blaming Kamala Harris for Monday's stock market downturn. But he's previously sought to claim credit for a stock market rally under Biden. Go to newsletter preferences Thanks for signing up! AdvertisementAs global stock markets were rocked by a steep sell-off Monday, former President Donald Trump is using the downtown as the latest line of attack against his new Democratic rival, Vice President Kamala Harris. "Of course there is a massive market downturn," Trump wrote on Truth Social on Monday morning as part of a series of posts attacking Harris.
Persons: Trump, Kamala Harris, he's, , Donald Trump, Harris, KAMALA Organizations: Biden, Service, Democratic, Business Locations: San Francisco and California
CNBC TechCheck Evening Edition: August 05, 2024
  + stars: | 2024-08-05 | 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 EmailCNBC TechCheck Evening Edition: August 05, 2024CNBC's TechCheck brings you the latest in tech news from CNBC's 1 Market in the heart of San Francisco.
Persons: TechCheck Organizations: CNBC Locations: San Francisco
Mary Daly, president of the Federal Reserve Bank of San Francisco, during the National Association of Business Economics (NABE) economic policy conference in Washington, DC, US, on Friday, Feb. 16, 2024. San Francisco Federal Reserve President Mary Daly on Monday said she expects that interest rates will be cut later this year but declined to provide a timetable or the extent to which the central bank will ease. At their meeting last week, Fed officials provided some hints that lower rates are coming but were short on specifics. Earlier in the day, Chicago Fed President Austan Goolsbee told CNBC that the central bank's "restrictive" rates policy doesn't make sense if the economy isn't overheating, which he said it is not. If there are trouble signs with the economy, Goolsbee said the Fed will "fix it."
Persons: Mary Daly, Daly, we've, Austan Goolsbee, Goolsbee Organizations: Federal Reserve Bank of San, National Association of Business Economics, San Francisco Federal, Market, Chicago Fed, CNBC Locations: Federal Reserve Bank of San Francisco, Washington , DC, Hawaii
Brokerage firm Charles Schwab is having technical issues on Monday in the middle of a steep sell-off for global equities. "Due to a technical issue, some clients may have difficulty logging in to Schwab platforms," the firm said in a post on its X social media account. Some users were reporting on social media about issues getting into their accounts. Schwab was not the only brokerage firm with social media complaints on Monday. CNBC is reaching out to other companies to see if they are having issues.
Persons: Charles Schwab, Dow, Schwab, Downdetector.com Organizations: Fidelity Investments, CNBC Locations: San Francisco , California, Schwab
Twitter — now called X — is closing its San Francisco office, CEO Linda Yaccarino says in a memo. A New York Times reporter first posted about the news — on X. AdvertisementElon Musk last month said he was sick of "dodging gangs of violent drug addicts" just to get into X's San Francisco headquarters. A New York Times reporter posted — on X — that the company would close its San Francisco headquarters "over the next few weeks." CEO Linda Yaccarino wrote in an email to X employees that workers would move to offices in San Jose.
Persons: Linda Yaccarino, , Elon, X Organizations: Twitter, San, Palo, New York Times, Service, X's San, Times, Business Locations: Bay, San Jose, Palo Alto, X's, X's San Francisco headquarters, San Francisco
According to public announcements, the firm has made four acquisition deals so far in 2024, exactly even with Nvidia's 2020 deal total. Nvidia declined to discuss its acquisition strategy for this report, citing a quiet period before it announces earnings on August 28. In May, Nvidia agreed to acquire Deci AI, another Israeli startup that makes tools for developers to build AI models, for $300 million. In July ​Nvidia competitor AMD announced an agreement to acquire Silo AI, a Finnish AI startup, for $655 million. And this quiet trickle of deals in various forms is unlikely to stop since the market for AI talent is so tight.
Persons: , Nader Khalil, Colette Kress, Kress, it's, OpenAI, Paul Baier, GAI, Baier, Umesh Pavdal, Thomvest Organizations: Service, Nvidia, Microsoft, Department of Justice, Federal Trade Commission, Business, ARM, Softbank, Politico, Shoreline, LinkedIn, Citi Global, DOJ, FTC, Amazon, AMD, Silo Locations: Israeli, California, San Francisco, Finnish
Enter Vance, who wants to halt any sort of sustained momentum for Harris as she stumps with her eventual vice presidential pick. The senator is seemingly aiming to get ahead of the news cycle to blunt a potential Democratic vice presidential honeymoon period. Harris will use her tour to blitz battleground states and introduce her running mate to voters. Megan Varner/Getty ImagesSo Vance's plan to lay into Harris and her running mate will be a tricky balancing act. Some voters will applaud Vance's shadow tour of Harris' vice presidential rollout, while others will view it as a stunt.
Persons: , Kamala Harris, Ohio Sen, JD Vance, Harris, Vance, Joe Biden's, he'll, Donald Trump, Biden, souring, Trump, MAGA, haven't, Megan Varner, doesn't, Josh Shapiro, Tim Walz, she'll, Shapiro, Walz — Organizations: Service, Democratic, GOP, Business, Politico, Biden, Republican, Republican National Convention, Democratic Party, CNN, Minnesota Gov, Republicans, Medicare Locations: Philadelphia, Detroit, Eau Claire , Wisconsin, Raleigh , North Carolina, Ukraine, Ohio, Francisco Bay
Investors are increasingly hopeful that will push Federal Reserve officials to come to their rescue with an emergency rate cut. But if something comes up in between those meetings that changes their views on the ideal level for rates, officials can gather for an unscheduled “emergency” meeting. By doing two large emergency cuts in succession, Fed officials didn’t have to weigh whether their actions would unnecessarily cause Americans to panic. Before those cuts, the last time the Fed was promoted to do an emergency rate cut was in the thick of the Great Recession shortly after Lehman Brothers collapsed in the fall of 2008. But he said he was “reluctantly” comfortable with an emergency cut since other central banks were doing it.
Persons: Austan Goolsbee, there’s, Lehman Brothers, ” Charles Plosser, , , That’s, Janet Yellen, ” Yellen, Plosser Organizations: New, New York CNN, Federal, Chicago Fed, New York Times, Philadelphia Fed, Bank of Canada, European Central Bank, Bank of England, San, Committee, Fed, Treasury Locations: New York
To help her clients, Lev incorporates schema therapy, which involves each partner learning about how their core beliefs. She said she can predict what a couple's arguments are before she even meets them 90% of the time. Advertisement"When we look at what people believe, it tells us about how they behave," Lev told Business Insider. Learning about your schemas can not only solve problems with your partner but also help you become more vulnerable or assertive. It's to help people move closer to emotional maturity — or recognize when a relationship just isn't good for them.
Persons: , they're, Avigail Lev, Lev, Jeffrey E, Young, she's, didn't, engulfment, we'd Organizations: Service, Business Locations: San Francisco
Read previewWhile some Silicon Valley investors and startup leaders are going red hoping for a more "tech-friendly" White House, Michael Moritz, a storied Sequoia Capital investor, believes that does not reflect the Valley overall. "Fortunately, at least in Silicon Valley, Trump will not prevail," Moritz wrote in a Financial Times opinion piece, which was also posted on LinkedIn. Like the rest of the nation, Silicon Valley is deeply divided over whom to support in the upcoming presidential race. In his piece, Moritz chided Trump supporters in Silicon Valley. Moritz added that Trump had historically not performed well among Silicon Valley voters.
Persons: , Michael Moritz, Trump, Moritz, Kamala Harris, Donald Trump, Doug Leone, Shaun Maguire, Roelof Botha, Andreessen Horowitz, Marc Andreessen, Ben Horowitz, Fund's Peter Thiel, David Sacks, Chamath, Vance, Sen, JD Vance, Palmer Luckey, Elon Musk, VCs, Kamala, Harris, Vinod Khosla, Reid Hoffman, Mark Cuban, Ron Conway Organizations: Service, Sequoia Capital, LinkedIn, Business, Google, PayPal, Democratic, Republican, Tech, Trump, VR, Bloomberg, PAC, Street Journal, Netflix, Harris, Politico Locations: Silicon Valley, Sequoia, Park City , Utah, Silicon, Palo Alto , California, Newport Beach , California, Washington ,, Francisco, San Jose
San Francisco ranked as one of the most expensive cities to live in, according to Numbeo. 1 most expensive city to live in: Geneva, SwitzerlandCost of Living Index Score: 101.7 Geneva, Switzerland, is the most expensive city in the world to live in, according to the Cost of Living Index. 10 most expensive cities in the worldGeneva, Switzerland Zurich, Switzerland New York, New York San Francisco, California, United States Boston, Massachusetts, United States Reykjavik, Iceland Washington D.C., United States Seattle, Washington, United States Los Angeles, California, United States Chicago, Illinois, United States Zurich is the No. 2 most expensive city to live in the world. New York City, New York, United States Alexander Spatari | Moment | Getty Images
Persons: Numbeo, , Switzerland Alberto Mazza, Switzerland Didier Marti, United States Alexander Spatari Organizations: Francisco, City, Big Apple, Cities, United Nations, Iceland Washington D.C Locations: New York City, States, Geneva, Switzerland, New York, Switzerland Zurich, Switzerland New York , New York San Francisco , California, United States Boston , Massachusetts, United States Reykjavik, Iceland Washington, United States Seattle, Washington, United States Los Angeles , California, United States Chicago , Illinois, United States Zurich, Zurich, Numbeo, New York City , New York, United States
Vice President Kamala Harris had a secret weapon on hand as she worked the phones in the hours after President Biden dropped his re-election bid and endorsed her. Tony West, her brother-in-law and the chief legal officer at Uber, was with Ms. Harris in the vice president’s residence when she received the news, and he spent the afternoon helping her reach out to would-be supporters. Since that Sunday, Mr. West has emerged as a major force behind Ms. Harris’s campaign and its record-setting fund-raising, but also as a concern for some progressives who want her to take a hard line against big business. Ms. Harris’s campaign brought on several senior political operatives on Friday, some of whom worked on former President Barack Obama’s campaigns, to add to the team that had been assembled to re-elect Mr. Biden. But none has the advantage of family ties like her brother-in-law, who has held top positions in the Justice Department and corporate America while advising Ms. Harris’s campaigns since she ran for San Francisco district attorney in 2003.
Persons: Kamala Harris, Biden, Tony West, Harris, Uber, West, Harris’s, Barack Obama’s, Mr Organizations: Justice Department, San Locations: America, San Francisco
Weatherford had just started gearing up with the Republicans for Biden effort in June when the race took a turn. Bill Weld (the 2016 Libertarian nominee for vice president who then challenged Trump in the 2020 Republican primary), former New Jersey Gov. Harris aides have quickly announced changes to many of her previous more liberal positions. A print production specialist at a print shop in Tucson, Arizona, cuts a run of yard signs in support of Vice President Kamala Harris' presidential campaign on July 25, 2024. “We want Republicans talking to Republicans,” Weatherford said, “because we think that’s the best way to make it work.”
Persons: Biden, Harris, Joe Biden’s, Kamala Harris, Donald Trump, Trump, Biden spiraled, Nikki Haley, , Austin Weatherford, Adam Kinzinger of, Weatherford, , Bill Weld, Christie Todd Whitman, Kinzinger, Denver Riggelman, Joe Walsh, Stephanie Grisham, Claudine Schneider, ” Schneider, creaked, Rebecca Noble, Reuters “ Harris, ” Weatherford, Schneider, Republicans “, Abraham Lincoln, Teddy Roosevelt, Ronald Reagan, hadn’t, Gov, Geoff Duncan, Harris didn’t, George W, Bush, Mike Pence, Biden’s, ” Pence, Pence, MAGA Organizations: CNN, Democratic, Republicans, Trump, Biden, GOP, Republican, Massachusetts Gov, New, New Jersey Gov, Virginia Rep, Denver, Illinois, Former Rhode Island, Green New, Reuters, Democrats, Senate, Republican Party, Weatherford Locations: San Francisco, Adam Kinzinger of Illinois, Arizona , Pennsylvania, North Carolina, Massachusetts, New Jersey, Colorado, Tucson , Arizona, Georgia, Atlanta, Milwaukee
Walmart surprised many of its corporate employees when it announced a return-to-office mandate. The new policy requires formerly remote workers in the US to move to one of three office locations. One worker told BI he's excited to work at headquarters, but stressed out about the short timeline. AdvertisementTwo months after Walmart surprised its previously remote corporate employees with a return-to-office mandate, many are in the midst of packing up for cross-country moves. This story is available exclusively to Business Insider subscribers.
Persons: , Donna Morris Organizations: Walmart, Service, Business Locations: New York, San Francisco, Bentonville , Arkansas
Traders work on the floor of the New York Stock Exchange during afternoon trading on August 02, 2024 in New York City. U.S. stock futures fell Sunday night following a volatile week for Wall Street, in which the Nasdaq Composite dropped into correction territory. S&P 500 futures and Nasdaq-100 futures dipped 0.7% and 1.1%, respectively. On Friday, the Nasdaq capped a third straight week of losses, bringing the tech-heavy index down more than 10% from a record set last month. The S&P 500 also posted a third straight losing week, down 2% for the week.
Persons: Dow, Keith Lerner, CNBC's, It's, Warren Buffett's Berkshire Hathaway, Mary Daly Organizations: New York Stock Exchange, Wall, Nasdaq, Dow Jones Industrial, Dow Jones, Treasury, Federal Reserve, PMI, San Francisco Fed Locations: New York City . U.S, Hawaii
The same Chinese brokers who were laundering fentanyl proceeds were now heavily involved in marijuana trafficking across the U.S. as well. Over the past decade, Chinese organized crime groups in the U.S. quietly became the dominant money launderers for Mexican cartels. Since 2023, federal prosecutors have charged at least 31 people linked to Chinese groups accused of laundering cartel drug money. In the ensuing months, the team began to understand for the first time how the Chinese became the Mexican cartels’ go-to money launderers. The Chinese money brokers then arrange for the cartels to receive the equivalent amount in pesos or cryptocurrency in Mexico.
Persons: Ray Donovan, Joaquin “ El Chapo ” Guzman, Guzman, Donovan, , Michael Mezner, , I’ve, El Chapo, ” Donovan, , Christopher Urben, “ They’ve, Dennis Wilder, ” Wilder, Urben, ” Urben, Bill Bodner, Vanda Felbab, Brown, , They’re, Xi Jinping Organizations: Attorney’s, Central, Central District of, U.S, Division, CIA, Ministry of State Security, U.S ., National Intelligence, National Security Council, Los, Singapore —, Brookings Institution, Operations Division, DEA, Citibank Locations: U.S, East, China, El, Sinaloa, Pasadena, Calif, Central District, Central District of California, Virginia, United States, CJNG, propping, Los Angeles, San Francisco and New York, Asia, Australia, Singapore, New York, Chicago, Miami, Mexico, Los Angeles County . U.S, Guangzhou, America
Sweaty startups are blue-collar businesses, often in unglamorous or laborious fields like septic services, car washes, or lawn care. It's what your grandparents would've just called a small business, but it was a tongue-in-cheek answer to the Silicon Valley-style entrepreneurship being glorified in culture at that time. Still, some small businesses look to private equity to scale their businesses in different markets, even if that means overhauling operations in some cases. "Small businesses partner with private-equity firms because they provide access to capital and organizational support to help companies grow," Drew Maloney, the council's president and CEO, told BI. Alejandro FlorezBoth of his parents were janitors, and when he was a senior in high school he started a small cleaning company that he grew by knocking on doors and cold-calling.
Persons: , Patrick Hocker, Hocker, he'd, Nick Huber, would've, Huber, he's, Drew Maloney, Stan Chen, Chen, Alejandro Florez, Florez, Chris Salisbury, BuzzFeed — Salisbury, Salisbury Organizations: Service, Business, Bluebird Pest Solutions, Pest, Alpine Investors, American Investment Council, BlackRock, America Locations: Virginia, Pest, Boston, San Francisco, America, Bradenton , Florida, Jacksonville, Orlando, nuDoors, Brooklyn , New York
The homeless men who huddled in tents on a wide sidewalk near Golden Gate Park in San Francisco knew that city crews were coming to clear them out. Fifteen times this year, the city has cleared the sidewalks near the local Department of Motor Vehicles office — and 15 times, the homeless campers have quickly returned. No longer would San Francisco allow homeless people to stay on the sidewalks if there was another place to sleep. branch had collectively turned down 89 offers of shelter this year, according to the mayor’s office, and Ms. “We need some tough love on the streets of our city,” Ms.
Persons: Mayor London Breed, Breed Organizations: Department of Motor Vehicles, Mayor London Locations: San Francisco, Francisco
There is a major opportunity for Vice President Kamala Harris and the Democrats in the House and Senate to set our country on a different course. At a time when massive technological shifts are happening around the world, what the former Google C.E.O. In this moment, we need a leader who recognizes that innovation is the key to economic prosperity, national security and breakthrough progress on climate change and other pressing issues. She was California’s attorney general during the smartphone boom of the 2010s, when tax revenues from tech company I.P.O.s and stock market gains turned California’s budget deficits into surpluses and reinforced the state’s standing as the world’s innovation leader. Ms. Harris’s familiarity with the needs of the tech industry and her ability to innovate and protect the public interest mark her as a 21st-century leader.
Persons: Kamala Harris, Eric Schmidt, America’s, Harris, Ms Organizations: Google Locations: Francisco’s
Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. If you’re hungry for more, take a look at our roundup of classic Italian dishes you need to try from across the country’s 20 regions. New UNESCO sitesThe UNESCO World Heritage Committee has been announcing the latest sites around the world to achieve World Heritage status. An ancient monastery in Gaza has been added to the list of World Heritage in Danger because of the war in the region. Over in Britain, Hadrian’s Wall has been a UNESCO World Heritage site since 1987, and it’s changing what we think about the Roman Empire.
Persons: Italy’s, Roberto Linguanotto, It’s, Organizations: CNN, United Airlines, UNESCO, UNESCO World Heritage, CNN CNN Travel Locations: Dublin, Treviso, Veneto, Italy, United States, Asia, Gaza, South, Britain, Roman, Flagstaff , Arizona, Francisco, Arizona, It’s, Irish
“There’s a lot of mistrust going on there.”As fire behavior grows intense because of climate change and overgrown forests, doubts can fester in rural communities as fire managers operate more conservatively than in the past. “Now, we’re seeing fires act more radically, make their own weather and be more unpredictable.”This dynamic is playing out in rural communities elsewhere. Stasiewicz said that based on her own focus groups, surveys and interviews, sentiments like Courtney’s are becoming more common in rural communities. Evacuation often carries a stiff financial cost, she said, and some rural residents worry their properties won’t be prioritized. “We can sometimes see rural communities lose compared to more developed areas.
Persons: we’ve, , Amanda Stasiewicz, , ” Stasiewicz, they’d, Brad Bramlett, ’ ” Courtney, Courtney, Johnston, Magnussen, Stehekin, Stasiewicz Organizations: University of Oregon, , San Francisco Chronicle, National Interagency Fire Center, National Weather Service, , Tourists Locations: West, Northern California, Pacific, Oregon , Washington and Idaho, Lake Chelan, North, Stehekin, U.S
PARIS — Living in the era of Simone Biles' dominance would be a challenge for any gymnast, but Suni Lee and Jordan Chiles are reveling in their own Olympic spotlights. Throughout their Olympic encore, Lee and Chiles observed a burgeoning lightness and international kinship in elite gymnastics. Jordan Chiles, bottom, and Suni Lee celebrate winning the gold medal during the women's artistic gymnastics team finals at the Olympics in Paris on Tuesday. It's not just the culture that has changed for Lee, who faced an even steeper climb to the Olympic podium the second time around. After winning the Olympic all-around title in 2021, she found herself launched into unexpected, dizzying fame.
Persons: Simone Biles, Suni Lee, Jordan Chiles, Lee, Chiles, ” Lee, Francisco Seco, It's, Biles, Kaetlyn Liddy, Tom Organizations: PARIS, Olympic, NCAA, , Tokyo, Paris Locations: Paris, U.S, , Monday's, Spring , Texas, New York
And then, on her second night in Rome, Skyler crossed paths with Giuseppe Morisani in a busy bar. As soon as he met Skyler, Giuseppe started daydreaming about showing her around his home region and – most importantly – introducing her to his mother. He just had one complaint: the lack of Calabrian olive oil. In time, this first spark of an idea became EXAU Olive Oil – a successful olive oil company operated by Giuseppe and Skyler. “I wouldn’t have started EXAU, our olive oil company, if we hadn’t met just that day… I just feel happy.
Persons: Giuseppe Morisani, Skyler Mapes, She’d, Giuseppe, , ” Skyler, Skyler couldn’t, , Skyler, she’d, , Giuseppe didn’t, Skyler didn’t, Giuseppe –, , Giuseppe gushed, who’d, he’d, Calabria Skyler, Giuseppe’s, we’d, didn’t, Giuseppe Morisani Skyler, ” “, ” Giuseppe, Skyler hadn’t, Giuseppe couldn’t, Oprah Winfrey, Olive, we’re, Skyler’s, they’ve, hadn’t, “ I’m Organizations: CNN, Google, CNN Travel, Familia, Fine Arts, Forbes, Olive Oil, US Locations: Rome, Calabria, Barcelona, Spain, Europe, Italy, Calabria –, California, Amsterdam, Netherlands, United States, San Francisco, , Southern Italy, Texas
The Summary Many young climate advocates see Kamala Harris as stronger on environmental issues than Joe Biden. President Joe Biden may have passed the United States’ most significant climate legislation ever, but many young environmental activists say they see Kamala Harris as stronger on the issue. But several young climate activists ages 16 to 29 said for them, the expansion of the fossil fuel industry during Biden’s presidency has clouded those successes. Harris’ young supporters have highlighted the settlements she secured as California attorney general with Chevron, BP and ConocoPhillips over their handling of hazardous materials. Sunrise Movement protesters gather near Vice President Harris' Brentwood home on April 14, calling on her to urge President Biden to declare a climate emergency.
Persons: Kamala Harris, Joe Biden, Harris, Biden, , Aru Shiney, Ajay, Donald Trump, , Keanu Arpels, Greta Thunberg, Kent Nishimura, Dana Fisher, it’s, ” Fisher, ’ ” Fisher, Fisher, Harris ’, “ Biden, Kamala isn’t, Iris Zhan, “ Donald Trump, Sen, Gavin Newsom, Carlos Avila Gonzalez, Zanagee Artis, ” Young, Natalie Bookout, Robert Gauthier, Heather Hargreaves, “ there’s, “ She’s, NASA's, Olivier Douliery, Stephen Perkins, We’ve Organizations: Biden, Green, Deal, Big Oil, Sunrise Movement, Green New Deal Network, Infrastructure Investment, Jobs, Reuters, Los Angeles Times, Getty, Center for Environment, Community, Equity, American University, Chevron, BP, ConocoPhillips, Research, , Gov, San Francisco, Brentwood, Climate Power, NASA's Goddard Space, American Conservation Coalition, Pew Research Locations: United States, Alaska, Virginia, West Virginia, Lake Mead, California, Wilmington , Delaware, San Francisco, Mar, Pineridge, Calif, Charlotte , North Carolina, Greenbelt , Maryland, AFP
Chevron, the second-largest U.S. oil company, is moving its headquarters to Houston, from California, formalizing a long-expected breakup with a state that has pushed aggressively to address climate change. The company’s ties to California date to the 1870s. Chevron said it already had roughly 7,000 employees in the Houston area and around 2,000 at its current headquarters in San Ramon, Calif., near San Francisco. The State of California sued Chevron and other large oil companies last year, claiming that they misled the public about the risks of fossil fuels, the extraction of use of which are a leading cause of climate change. Chevron’s chief executive, Mike Wirth, criticized the lawsuit last year, saying in a Bloomberg Television interview that litigation was not the right approach.
Persons: Mike Wirth Organizations: Chevron, Calif, Bloomberg Television Locations: Houston, California, San Ramon, San Francisco, The State
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