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Read previewA Navy supply ship was run aground by a junior officer off the coast of Bahrain shortly after the ship's master — or captain — left the bridge to eat dinner, an investigation revealed. The master took the ship there and then went to eat dinner, leaving the ship in the hands of a much more junior third officer. Less than 30 minutes later, the Alan Shepard was grounded on a shoal. An MH-60S Sea Hawk approaches the Lewis and Clark-class dry cargo and ammunition ship USNS Alan Shepard. Sailors aboard guided-missile destroyer USS Spruance hold the phone and distance line during a replenishment-at-sea with dry cargo ship USNS Alan Shepard.
Persons: , Alan Shepard, Lewis, Clark, James Hong, Military.com, Alan Shepard's, Spruance, Taylor Crenshaw, Arleigh Burke, Andrew Langholf, Howard, Cmdr, Kenji Igawa Organizations: Service, Navy, Business, US Navy, US Coast Guard, Halsey Locations: Bahrain, Bali, Indonesia
Lord's Cricket Ground, London CNN —At Lord’s Cricket Ground in the quiet, well-heeled streets of northwest London, different architectural eras collide together in a mishmash of mismatching styles representing the old and the new. And never is that collision between the old and new more evident than when Lord’s, the self-styled “home” of cricket and one of its most prestigious grounds, hosts the annual schoolboys fixture Eton vs. Harrow. CNN has contacted Eton and Harrow for comment but had not received a response at the time of publication. Spectators at Lord's Cricket Ground during the lunch interval in 1895 at the annual Eton vs. Harrow match. “We have to learn from the past, and the successes of the past too.”‘A turgid image of snobbery’The question of the Eton vs. Harrow match has become entangled in the wider conversations around cricket presently.
Persons: Lord’s, , Lord Byron, , Let’s, Jack Sparrow, Andrew Boyers, I’ve, ” Mark McCullen, Harry Wells, we’ve, ” Wells, Symons, we’re, Stephen Fry, ” Harrow, Tom Jenkins, ” Fry, ” Mark Nicholas Organizations: London CNN, Eton, Harrow, Marylebone Cricket Club, MCC, Oxford, Cambridge, CNN, England Women, Independent Commission, Equity, Cricket, Haymarket Theatre, Etonians, “ Pirates, CNN Sport, Wimbledon, Ascot, Thiele, Times, Harrow coasted Locations: London, Lord’s, Caribbean, Harrow
Last summer, thousands of tie-dyed Burners and Patagonia-clad tech founders converged on the MAPS Psychedelic Science conference in Denver. The experience "broke the spell of this trauma, and she was able to rebuild her life," Doblin told The Guardian . The video team's job was to store recordings of every MDMA therapy session performed in the clinical trials. Grof believes in something called an "inner healing intelligence," an innate capacity for self-healing that psychedelic therapy helps unleash. Another time, a patient who had come to an MDMA therapy session later acknowledged they had been under the influence of LSD during treatment.
Persons: Jaden Smith, Aaron Rodgers, bro, Andrew Huberman, Rick Doblin, Doblin, mainstreaming psychedelics, influencers, Johnson, Elizabeth Nielson, Aubrey Marcus, ayahuasca, Matthew Stockman, Helena —, Timothy Leary, , Hitler, Stanislav Grof, zombified, Brad Burge, Michael Mithoefer, Annie Mithoefer, Oprah, Sen, Joe Biden, MDMA's neurotoxicity, they'd, Albert Hofmann, David Bronner, Dr, Joe's, Bronner, Bronner's, Richard Rockefeller, John D, Rockefeller Jr, Rockefeller, Neşe, Johns Hopkins, who's, Devenot, Rick Friedman, Betty Aldworth, MAPS's multimillionaire, Tim Ferriss, Cody Swift, Zendo, Aldworth, Erica Siegal, Seth Whitelaw, Amy Emerson, JULIE JAMMOT, Ifetayo Harvey, Harvey, Lauren Unger, Unger, Casey Hardison, Harvey didn't, Hardison, Doblin's, Baylee Ybarra Gatlin, Gatlin, negligently, There's, Michael Pollan's, Steve Jurvetson, Elon Musk's who's, Genevieve, Steve Cohen, Alexandra, Mark Zuckerberg's, Dustin Moskovitz, Cari, Gwyneth Paltrow, Paltrow, Sergey Brin, Joe Green, Green, Zuckerberg, Genevieve Jurvetson, Michael Pollan, Jonathan Lubecky, he'd, Rebekah, Robert Mercer, Elizabeth Koch, Charles Koch, Rachel Nuwer, Koch, she'd, MAPS's, Elizabeth Crystal, Joe Rogan, didn't, Jesus Christ, Crystal, Meaghan Buisson, Richard Yensen, Donna, Yensen, Buisson, weren't, Robert, Rebekah Mercer, Sean Zanni, Grof, They've, Kayla Greenstien, it's, George Sarlo who'd, Vicky Dulai, Sarlo's, Dulai, Gul Dolen, Michael Mullette, who'd, Marla Aufmuth, Mullette, Lily Kay Ross, David Nickles, Ross, Greenstien, Rick, Lenny Ignelzi, biostatisticians, Lykos, Peter Thiel, Kara Swisher, Kris Lotlikar, Federico Menapace, Mo Septimus, Handout, Monnica, Williams, Lotlikar, Henry Elkus, Helena ., Elkus, Emerson, ICER Organizations: Science, New York Jets, rockstar, Multidisciplinary Association for Psychedelic Studies, Lykos Therapeutics, and Drug Administration, FDA, Business, Florida's New College, Jewish Telegraphic Agency, Sarasota Herald, Tribune, New College, Guardian, Drug, Harvard's Kennedy School of Government, eBay, Nevada, Doblin, Pentagon, Department of Veterans Affairs, Department of Defense, Staff, Corporation, PBC, pharma, New Yorker, New York Mets, Bloomberg, CBS, Breitbart, CBC News, BI, Porsche, Santa Cruz, New York Times, longtime, Mullette Corporation, New York, Health Canada, Compass, Sciences, Psychedelic Science, Whole Foods, McKinsey, Big Pharma, Vine Ventures, Lucid, Street Journal, Investments, Gawker, Publicly, PBC alums, Numinus, US Army Locations: Patagonia, Denver, Harvard, Colorado, Skokie , Illinois, Ireland, Czech, Sarasota, Arcturus, Florida, Swiss, Vietnam, Washington, Santa Cruz, Chicago, California, Iraq, British Columbia, New York, Hawaii, Santa, Nature, Moderna, Europe, Helena, Yale, Australia, Canada, Israel, Ukraine, ICER, . Upper
Wall Street is increasingly divided over whether the Fed will cut interest rates by Election Day. New inflation data out this week will go a long way toward settling that question, as polls show that President Biden is struggling to convince voters that he’s done a good job on the economy. A first-quarter uptick in inflation has forced the Fed to keep borrowing costs at a 23-year high. Economists see a slight improvement, forecasting that April’s Consumer Price Index report on Wednesday will show that inflation moderated slightly last month. (Economists will also be watching Tuesday’s Producer Price Index and retail sales data on Wednesday.)
Persons: Biden, he’s, Sarah House, Organizations: Fed Locations: Wells Fargo
Even for someone who loves getting lost in museums — especially “everything museums” like the Metropolitan Museum of Art in New York — London’s Victoria and Albert Museum might have been my Waterloo. The V&A typically draws around 3 million annual visitors, but even on the busiest days, the museum has the space and setup to largely avoid the sense of competing with the crowds. Since visiting the permanent collection is free (some exhibitions cost up to 20 pounds, or about $25), once you’re in the door you can just start wandering. Step right for medieval mosaics and Renaissance tapestries or go deep for 1940s Paris fashion, Baroque sculpture and, beyond that, Buddhist art. It’s easy to spend an entire day in the V&A.
Organizations: Metropolitan Museum of Art, Albert Museum Locations: New York, Victoria, Waterloo, Paris
Advertisement"He was recruited by AIPAC to run against us because we called for a permanent cease-fire," Bowman said of Latimer. In January, Bowman lost the support of the liberal pro-Israel group J Street over his rhetoric on Israel. Like Bowman, Latimer has a blunt and direct speaking style that sometimes leades to gaffes, such as his invocation of the racist lynching of Emmett Till when commenting on the sexual misconduct allegations against then-Gov. When asked about Bowman's charge of racism, Latimer pointed to his appointment of Ken Jenkins, a Black man, as his deputy county executive. Bowman and Latimer have known each other for nearly four years, first meeting for coffee after the congressman's 2020 primary victory.
Persons: Jamaal Bowman, George Latimer —, Worker's, Bowman, Latimer, Sen, Shelley Mayer, Marjorie Taylor Greene, Thomas Massie, George Santos, haven't, we're, Bryan Metzger, He's, Cori Bush of, Bernie Sanders's, , Benjamin Netanyahu, Selcuk, — Bowman, Y'all, Israel, Bowman's, he's, Eliot Engel, George Latimer, Republican Rob Astorino, Jeenah, let's, Emmett Till, Andrew Cuomo, Ken Jenkins, he'd, Brian Fitzpatrick, Tom Kean of, who's, I'm, Joe Biden, Republican megadonors, Donald Trump, MAGA, Usamah Adrabi, deriding Latimer, they've, what's, Harrison, it's, They're, I've, Bowman —, that's Organizations: Westchester, Democratic Party, Capitol, American Israel Public Affairs Committee, Democratic, Israel, AIPAC, Getty, J, Republican, Washington, Working Families Party, Hamas, that's, Business, Mount Vernon High School, Apple Locations: Port Chester , New York, Congress, Westchester County, Mount Vernon, Port Chester, Cori Bush of Missouri, Israel, Queens , New York, Anadolu, Gaza, Westchester, Rye —, York, Latimer, White Plains , New York, Pennsylvania, Tom Kean of New Jersey, New York, California, Bronx, Yonkers, New Rochelle, Scarsdale, Rye, Harrison, Mount Vernon , New York, American
Ruffles on the hem of Meghan's red dress for a Women in Leadership panel made it stand out. Meghan Markle speaks at a Women in Leadership event co-hosted with Ngozi Okonjo-Iweala in Nigeria in May 2024. Andrew Esiebo/Getty Images for The Archewell FoundationMeghan's $275 midi dress was made by Orire, a Nigerian designer. The hem of the dress was lined with large ruffles, adding a touch of glamour to the simple silhouette. According to InStyle, Meghan said during the panel that she donned the colorful dress at the encouragement of people she met in Nigeria.
Persons: Meghan Markle, Ngozi, Andrew Esiebo, Orire, Aquazzura, InStyle, Meghan Locations: Iweala, Nigeria, Nigerian
AdvertisementThe unprecedented criminal trial of a former US president has delivered several stunning moments so far. Jurors get a peek at the 34 records at the heart of the caseTwo weeks into Trump's trial, jurors finally saw the paperwork at the heart of the matter. A courtroom sketch of Stormy Daniels on the witness stand in Donald Trump's hush-money trial. On the stand, Daniels said Trump told her she reminded him of his daughter, commenting on her blond hair and beauty. Trump's legal team requested a mistrial on the basis of Daniel's testimony.
Persons: , Donald Trump, Trump, Stormy Daniels, Michael Cohen —, Hope Hicks, Cohen, Daniels, Hicks, Andrew Harnik, Jeffrey McConney, Deborah Tarassoff —, Alvin Bragg, Stephanie Clifford, Donald Trump's, Jane Rosenberg, Juan Merchan, audibly, Merchan, Judge Merchan, MARK PETERSON, Donald, Von ShitzInPantz, Todd Blanche, Joe Biden, Blanche, Cohen's Organizations: Service, Business, White House, Trump, White House Communications, AP, Trump Organization, Prosecutors, Reuters, Truth, Manhattan Criminal, Getty Locations: Manhattan, Lake Tahoe, New York City
AdvertisementFormer President Donald Trump is entering the final stretch in his vice presidential selection process. So with that in mind, here's Business Insider's initial vice presidential power rankings. He's a former presidential candidate himself, a fact many recent vice presidential nominees share (though Trump ignored that in 2016). Entrepreneur Vivek Ramaswamy: Ramaswamy staked out the most pro-Trump territory of any GOP presidential hopeful. Having never held elected office, the Roivant Sciences founder would have one of the least conventional resumes of any recent major party vice presidential nominee.
Persons: Donald Trump, Trump, , I'm, Sen, Tim Scott of, TIMOTHY A, CLARY, Scott, He's, Larry Ellison, we've, Doug Burgum, North Dakota Ethan Miller, Kevin Cramer, haven't, Pence, Burgum, Dakotan, Marco Rubio, Joe Raedle, Florida Rubio, Rubio, Rubio isn't, Politifact, Elise Stefanik, Chip Somodevilla, New York Stefanik, Stefanik, Liz Cheney, isn't, it's, Biden, Mike Johnson's, JD Vance, Ohio Republican Andrew Harnik, Ohio Vance, Vance, Mike Pence, Byron Donalds of, Donalds, Kevin McCarthy's, Mike Johnson, hasn't, Vivek Ramaswamy, Ramaswamy, Tulsi Gabbard, Gabbard, Jr's, there's, Ben Carson, Carson, Glenn Youngkin, Youngkin, Rupert Murdoch, Kristi Noem Organizations: Service, Republican, Time Magazine, Republican Party, Getty, Oracle, CNBC, Black Republican, Reconstruction, Trump, GOP, Gov, North Dakota Burgum's, Democrat, LBJ, Microsoft, Ohio Republican, Roivant Sciences, Democratic, RFK, South Dakota Gov Locations: Milwaukee, Nebraska, Tim Scott of South Carolina, Iowa, North Dakota, Marco Rubio of Florida, New York, Wyoming, Ohio, Byron Donalds of Florida, Trump, Hawaii, Michigan, Virginia
CNN —President Joe Biden is facing backlash from lawmakers in both parties over his ultimatum that a major Israeli offensive in the city of Rafah would result in a shut-off of some US weapons. “So if you’re worried about Palestinian casualties, the stated policy here actually doesn’t make a ton of sense,” Vance said. The president’s announcement amounted to a turning point in US-Israeli ties since the seven-month conflict between Israel and Hamas began in October. Still, the president’s aides said the message shouldn’t have been a surprise to their intended recipients in Israel given repeated warnings to Prime Minister Benjamin Netanyahu. “I think President Biden has taken forceful action – so much so there’s been a lot of blowback for his recent public statement.”CNN’s Kit Maher, Aileen Graef, Kevin Liptak, Jennifer Hansler and Kylie Atwood contributed to this report.
Persons: Joe Biden, CNN’s Erin Burnett, , Republican Sen, JD Vance, CNN’s Dana, , Biden, ” Vance, Benjamin Netanyahu, Burnett, Israel, Lindsey Graham of, Graham, GOP Sen, Rick Scott of, Israel ”, Josh Gottheimer, Adam Smith, Erin Burnett, , Netanyahu, Democratic Sen, Chris Murphy, Bash, Murphy, Antony Blinken, ” Blinken, Chris Van Hollen, Margaret Brennan, Van Hollen, ” Van Hollen, ” Murphy, ” Democratic Sen, Chris Coons, Van Hollen’s, there’s, ” CNN’s Kit Maher, Aileen Graef, Kevin Liptak, Jennifer Hansler, Kylie Atwood Organizations: CNN, GOP, Republican, Union, Hamas, Fox News, Democrats, House Democrats, Rep, Congress, Democratic, Connecticut, , CBS, Ministry, Health, State Department, ” Democratic Locations: Rafah, Ohio, “ State, Israel, Rafah —, Gaza, Lindsey Graham of South Carolina, Rick Scott of Florida, New Jersey, Washington, , Iraq, Afghanistan, United States, Maryland, Chris Coons of Delaware
Cowbells herald a third Trump outburstDonald Trump at his criminal hush-money trial with lawyers Todd Blanche, left, and Emil Bove. I will not tolerate that," state Supreme Court Justice Juan Merchan complained of Trump to defense lawyer Todd Blanche, his voice raised. Then there was Stormy DanielsA courtroom sketch of Stormy Daniels on the witness stand in Donald Trump's hush-money trial. Defense lawyer Susan Necheles questions Stormy Daniels as Donald Trump and Judge Juan Merchan look on. Advertisement"As recently as, I believe, Wednesday night, he was on TikTok," Blanche, the defense lawyer, complained to Merchan before court broke for the week on Friday.
Persons: , Donald Trump, Trump, riled Trump, they're, Debbie Walsh, Walsh, Donald Trump's, Allison Greenfield, enemies.i Curtis, David Dee Delgado, Arthur Engoron, who'd, Greenfield, Jean Carroll Donald Trump, Jean Carroll, Andrew Kelly, Luiz C . Ribeiro, Lewis Kaplan, audibly —, Carroll, Roberta Kaplan, Cowbells, Todd Blanche, Emil Bove, Jabin, Michael Cohen, Stormy Daniel, Joe Biden's, Juan Merchan, Stormy Daniels, Jane Rosenberg, Daniels, swatting Trump, Merchan, audibly, — Daniels, Blanche, Susan Necheles, Mary Altaffer, Michael Cohen Cohen — Trump's, fining Trump, Cohen, he's, MAGA Organizations: Service, Business, Trump, Center for American Women, REUTERS, New York Daily News, Tribune, Getty, Reuters, GOP, AP Locations: Manhattan, York, New, New York City, Lake Tahoe, New York
I talked to Brendan Doherty, a professor of political science at the United States Naval Academy and author of the books, “The Rise of the President’s Permanent Campaign” and “Fundraiser in Chief: Presidents and the Politics of Campaign Cash,” about why early presidents stayed off the trail and how this became the permanent campaign. Our conversation, conducted by email, is below:WOLF: Why didn’t early presidents personally campaign? DOHERTY: In the early decades of the republic, presidential candidates adhered to the norm that they should not actively campaign for office. DOHERTY: While early presidential candidates didn’t actively campaign, their supporters got the word out on their behalf. DOHERTY: Modern presidents campaign for themselves and for their fellow party members throughout their term in office.
Persons: Donald Trump, he’d, , Trump, , Joe Biden, , Brendan Doherty, DOHERTY, WOLF, didn’t, Andrew Johnson, Johnson, William Jennings Bryan, Republican William McKinley, Franklin Roosevelt, Harry Truman, Harry S, George Skadding, John F, Kennedy, Ronald Reagan, Herbert Hoover, Reagan, hadn’t, it’s Organizations: CNN, , United States Naval Academy, Newspapers, Democratic, Republican, Truman, Catholic, White, Wisconsin and, Ronald, Electoral, Technological Locations: York, Pennsylvania , Michigan, Wisconsin, Florida, New Jersey, Wisconsin and West Virginia, Fairfield , Connecticut
Carlos Avila Gonzalez/San Francisco Chronicle/Getty Images The northern lights shine in the night sky above the Molenviergang in Aarlanderveen, the Netherlands, early May 11. Alexey Malgavko/Reuters The northern lights are seen in a rural area west of Fort Lauderdale, Florida, on Friday, May 10. Courtesy Luke Culver People photograph the northern lights from Whitley Bay, England, on May 10. Courtesy Jan Reed The northern lights glow in the night sky in Brandenburg, Germany, on May 10. Increased solar activity causes auroras that dance around Earth’s poles, known as the northern lights, or aurora borealis, and southern lights, or aurora australis.
Persons: Chad Myers, it’ll, Alastair Johnstone, Andrew Chin, Sanka Vidanagama, Carlos Avila Gonzalez, Josh Walet, Robert Nemeti, Jean, Christophe Bott, Max Slovencik, Alexey Malgavko, Luke Culver, Ian Forsyth, Robert F, Geoff Robins, Rich, Jan Reed, Patrick Pleul, Jenny Kane, Adam Vaughan, Jacob Anderson, Peter Byrne, Biden, it’s, Dr, Hakeem Oluseyi, Bill Nye, Guy, , Organizations: CNN, National Oceanic, Prediction, Midwest, Getty, San Francisco Chronicle, Keystone, AFP, Luke Culver People, Rockies, National Weather Service Locations: Alabama, Ohio, Pacific Northwest, North America, Gulf, , Sheffield, England, Manning, British Columbia, Christchurch , New Zealand, AFP, Berryessa , California, Aarlanderveen, Netherlands, Debrad, Slovakia, Anadolu, Le, Dessous, Switzerland, Vienna, Siberian, Tara, Russia's Omsk, Fort Lauderdale , Florida, Whitley Bay, Brunswick , Maine, London , Ontario, Ontario, Tennessee, Washington, Memphis , Tennessee, Rich Hill , Missouri, Brandenburg, Germany, Estacada , Oregon, Cumming , Georgia, Crosby , England, Edinburgh, Scotland, Crosby Beach, Liverpool, Texas, Coast, Sweden, South Africa, United States
While making breakfast in my kitchen this week, I heard the sound of someone cleaning a window which instantly reminded me of a scene from the movie, "Coraline." Even when we aren't looking for it, nostalgia finds us. Nostalgia is "a wistful or excessively sentimental yearning for return to or of some past period or irrecoverable condition," according to Merriam-Webster. It's a "mixed emotional experience, so when we're nostalgic, we may experience a sense of loss and longing. We talked to Abeyta, who studies nostalgia, to get to the bottom of why the emotion is so desirable and if it's actually good for us.
Persons: Webster, It's, Andrew Abeyta, Abeyta, it's Organizations: Merriam, Rutgers University Locations: Camden , N.J
Markets typically respond to Fed comments with price swings in either direction, and recent research shows they are particularly reactive to Powell. And given the Fed's "data-dependent" approach, the baseline can change rapidly as new economic reports are released. "So now we're stuck with a system where there's only one view, there's only one outlook, it's a baseline outlook. And there's really no way to understand the Fed's thinking about where are the risks." Watch the video above to learn more about how the Fed's busy speaking schedule can create market volatility and how it balances transparency with market impact.
Persons: Jerome Powell, Powell, Andrew Levin, , Levin, Ben Bernanke Organizations: Fed, Federal, Center for Economic Policy Research, Dartmouth College, Federal Reserve Locations: Federal, what's
Orleck and Tamari are among at least 50 professors arrested at campus protests across the country, according to a CNN review of police records, court filings, and news reports. (Since April 18, more than 2,400 students have been arrested amid protests on more than 50 campuses.) Officials from several universities where professors were arrested in connection with recent protests declined to comment on individual cases. All the professors, Blair said, were “expecting to get arrested.” Though Blair himself was not arrested, at least four other UCLA professors were that day. “I want to say some of my colleagues, particularly at Emory and Washington University, were treated much more brutally.
Persons: Orleck, whiplash, Steve Tamari, Louis, Tamari, , Caroline Fohlin’s, Fohlin, Gregory Pflugfelder, Isaac Kamola, Alex Kent, , Kamola, “ There’s, Gregory Fenves, Fenves, Emory, Carol Folt, Andrew Guzman, Minouche Shafik, Joseph Howley, Graeme Blair, Blair, , ” Orleck, she’d “, they’re, Sian Leah Beilock, WMUR, ” Tamari, Mo, Christine Tannous, Andrew Martin, hasn’t, ‘ Don’t, “ Don’t, ” Michael Allen, ” Allen, Allen, I’m, St . Louis, Michael Allen “, Chancellor Martin, Bikrum Gill, Gill, ” Gill, it’s Organizations: CNN, Dartmouth College, Washington University, Palestinian, Emory University, Columbia University, New York Times, American Association of University, ’ Center, Defense, Faculty of Columbia University, Getty, Emory, University of Southern, USC, Columbia, UCLA, Justice, Green, Hanover Police Department, Police, Louis Post, AP Protesters, Boeing Company, Israel Defense Forces, University, Desirée, Virginia Tech Locations: New Hampshire, St, Palestinian American, Atlanta, New York, Columbia’s, Palestine, Gaza, Los, Los Angeles, Dartmouth, Emory, Palestinian, American, Louis , Missouri, Missouri, Illinois, Louis, Washington, Israel, St .
The increase follows falls of 0.3% in the fourth quarter and 0.1% in the third quarter of last year. The Bank of England now expects UK GDP to expand by 0.5% this year, double the pace forecast in February, according to projections published Thursday. A growing economy could, however, delay the interest rate cuts widely expected this year. “Stronger GDP growth raises the risk of stronger demand pressures on inflation,” analysts at Nomura wrote in a note, adding that Friday’s GDP release “casts doubt” over a cut in June. Annual UK inflation came in at 3.2% last month, a sharp slowdown from a rate above 10% about a year ago.
Persons: Rishi Sunak, Sunak, Nomura, , Andrew Bailey, Bailey Organizations: London CNN, Gross, Office, National Statistics, Conservative Party, Labour Party, The Bank of England, P Global . Service, Bank of England Locations: United Kingdom
The bank's price target implies more than 35% upside. Citi also increased its price target to $47 per share from $38, which implies more than 30% upside from Thursday's $36.06 close. The firm upgraded shares of the drive-through coffee company to buy from hold and raised its target price to $46 per share from $33. Dutch Bros stock has ticked up roughly 4% in 2024, lagging the broader market. The firm upgraded the conglomerate to buy and raises its price target to $115 per share from $91.13.
Persons: abate, Jon Tower, Brian Evans, TD Cowen, Cowen, Andrew M, Charles said, — Brian Evans, Chris O'Cull, Wesley Brooks, Brooks, Brandon Nispel, Nispel, Fred Imbert Organizations: CNBC, Warner Bros, Discovery, HSBC, Citi, Cheesecake, Bros, MMM
The “stretched” consumerBetter than expected quarterly earnings have helped propel the S&P 500 to within a whisker of a record high on Friday. But Wall Street and Washington are closely monitoring another worrying economic indicator: the struggling consumer. The split-screen view of the economy is becoming clearer as earnings season draws to a close. Mass-market brands, like the fast-food companies McDonald’s, KFC and Starbucks, have reported that a lot of customers are pulling back on spending as high inflation bites. This is “an economy of the haves and have-nots,” Michael Reid, an economist for RBC Capital Markets, told DealBook.
Persons: Biden, ” Michael Reid, DealBook Organizations: KFC, Starbucks, RBC Capital Markets Locations: Washington
CNN —A major US health care system said Thursday that it is diverting ambulances from “several” of its hospitals following a cyberattack this week. The sprawling health care network, which also owns 40 senior living facilities, said that it would be using “downtime procedure for some time,” because of the cyberattack. It was not clear how many Ascension hospitals were sending ambulances to other locations because of the cyberattack. It’s only the latest major hacking incident that has hobbled a big US health care network and sent US officials scrambling to offer support. A February ransomware attack on Change Healthcare, a subsidiary of health care giant UnitedHealth Group, caused billing disruptions at pharmacies across the US and threatened to put some health providers out of business.
Persons: Ascension, cybercriminals, Mandiant, ” Ascension, Andrew, UnitedHealth Organizations: CNN, US, Healthcare, UnitedHealth Locations: St, Louis
CNN —Russian forces have made two cross border assaults inside northern Ukraine, according to information from Ukrainian sources and officials – in what President Volodymyr Zelensky is calling a ‘new wave of counteroffensive actions” by Russia. In the first development, Russian soldiers penetrated at least one kilometre towards the town of Vovchansk, a Ukrainian military source told CNN. The source said the Russian ground assault towards Krasne was carried out by four Russian battalions - about 2000 men. “But our military and military command were aware of this and anticipated their forces to meet the enemy with fire. Syniehubov insisted the latest Russian ground assaults did not put the city, which lies just 30 kms south from the Russian border, under heightened risk.
Persons: Volodymyr Zelensky, , DeepStateMap, , ” Zelensky, Oleh Syniehubov, Syniehubov Organizations: CNN, Russian, Ukraine’s Defense Ministry, CNN Russian, Staff, , National Locations: Ukraine, Russia, Vovchansk, Ukrainian, Krasne, Russian, Moscow, “ Russia, Kharkiv
Art auction sales at Christie's, Sotheby's and Phillips over the next two weeks are expected to total $1.2 billion, down 18% from a year ago and nearly half the total for the May 2022 sales, according to ArtTactic. It extends a recent decline for the art market from its post-Covid peak, when cheap money, a booming stock market and fiscal stimulus saw record sales. It's the buyers showing up and what the work will sell for that will define our perception of the art market right now. Price pressuresDealers and art experts say the auction art market is stalled over price, with sellers not willing to get a lower price than they might have gotten at the peak of the market in 2021-2022. "The question they're asking is, 'Should we buy in to the art market right now?'"
Persons: Robert Frank, Phillips, Paul Allen, Brooke Lampley, Buyers, Sellers, Philip Hoffman, CNBC's Robert Frank, Andy Warhol, Jean, Michel Basquiat, Crystal Lau, Andrew Fabricant, It's, Hoffman, Francis Bacon's, George Dyer, Bacon, Dyer, Michel Basquiat's Organizations: Sotheby's, Fine Art Group, CNBC Dealers, CNBC Locations: , Gagosian
Bank of England Governor Andrew Bailey attends the central bank's Monetary Policy Report press conference at the Bank of England, in London, on May 9, 2024. Markets on Friday were pricing in an around 48% chance of a rate cut in June according to LSEG data, slightly higher than Thursday's 45% probability. "The broader message and the tone of the MPC were more dovish than we had anticipated," they said in a note published following the BOE's latest interest rate decision. The central bank on Thursday said it would leave interest rates unchanged for now, and stressed that a June rate cut was in no way guaranteed. Two members of the Monetary Policy Committee voted to cut rates, one more than at the central bank's previous meeting.
Persons: Andrew Bailey, Yui Mok, YUI MOK, BOE Organizations: England, Bank of England, The Bank of England, Getty, Swiss Bank UBS, MPC, Monetary Locations: London
The Chinese leader, Xi Jinping, received a gift of fine cognac at the Élysée Palace in Paris and was cheered in Belgrade by Serbians waving Chinese flags, albeit most of them were bused-in government workers. And by the time he left Hungary on Friday at the end of a six-day European tour, the clouds over his country’s relations with the West looked much less dark, at least from China’s perspective. Mr. Xi told President Emmanuel Macron of France that relations would be “as vibrant and thriving as springtime.” At his next stop, he said the “tree of China-Serbia friendship will grow tall and sturdy.” In Hungary, Mr. Xi told Prime Minister Viktor Orban that their countries were poised to “embark on a golden voyage.”The Chinese state-run news media, never less than glowing about Mr. Xi, went to strenuous lengths to present his European meetings as a triumph.
Persons: Xi Jinping, Xi, Emmanuel Macron, Viktor Orban Locations: Paris, Belgrade, Hungary, France, China, Serbia
Read previewFor the first time in 20 years, NOAA has issued a G4 geomagnetic storm warning. NOAAAnd in the last 24 hours, AR3664 spit out four coronal mass ejections that are now hurtling toward Earth at roughly 560 miles per second, Owens told BI. Even states including Maryland, New York, and Pennsylvania, could catch a glimpse of the aurora low on the horizon, Young told BI. The reality is that we just won't know how bright, active, and wide-reaching the aurora will be until the coronal mass ejections reach Earth's atmosphere. The most extreme estimate of aurora and where they can be seen in the US came from Alex Young.
Persons: , G4s, They've, Matt Owens, Alex Young, NASA Goddard's, Owens, AR3664, Space.com, Young, they'll, Andrew Gerrard Organizations: Service, NOAA, University of Reading, NASA, NASA Goddard's Heliophysics, Business, Oceanic Atmospheric Administration, Earth, New Jersey Institute of Tech Locations: Montana , North Dakota , Minnesota , Wisconsin, Michigan, Maryland , New York, Pennsylvania
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