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Live Updates: Inflation Expected to Cool Slightly
  + stars: | 2024-05-15 | by ( Ben Casselman | ) www.nytimes.com   time to read: +9 min
Housing Inflation Remains Stubbornly High Economists had expected two measures of rental inflation to fade in 2023 and 2024, but that process is taking time to play out. There are two main measures of inflation in America, the Consumer Price Index and the Personal Consumption Expenditures index. Consumer Price Index Inflation Remains Hotter The Consumer Price Index is climbing faster than the Personal Consumption Expenditures index, in large part because it weights housing more heavily. With housing, Consumer Price Index inflation totaled 3.5 percent in March. But the convergence between new and existing rent inflation is taking a lot longer than expected.
Persons: There’s, “ It’s, , Mark Zandi, Biden, Zandi, grousing, , O.E.R, We’re, would’ve, Mark Franceski, I’ve, Ernie Tedeschi, Tedeschi Organizations: New York Times, Federal Reserve, Index, Housing, Zelman, Associates, White House Council, Economic Advisers Locations: America, bam, Europe
CNN —The celebrations during Manchester City’s 2-0 win against Tottenham on Tuesday were testament to the importance of the high-stakes match as the reigning champion took a huge step towards a fourth straight English Premier League title. But, just as it looked as though City’s title hopes were about to be handed a major blow, Ortega stuck out a strong right leg to block the striker’s shot. Stefan Ortega makes an incredible save from Son Heung-Min to keep City's title hopes alive. However, if Arsenal drops points at home against Everton in its last game, City will win the league regardless of its result. No Premier League team has ever won four consecutive league titles, and the achievement would come after City’s treble-winning feat last season.
Persons: Erling Haaland, Pep Guardiola, , , ” Haaland's, Dylan Martinez, Ange Postecoglou, Haaland, Stefan Ortega, Ederson, Ortega, Dejan Kulusevski, Manuel Akanji, Heung, Son Heung, Min, Marc Atkins, Guardiola, Jérémy Doku, ” Guardiola, , Stefan, I’ve Organizations: CNN, Manchester, Tottenham, Premier League, Arsenal, West, Reuters, City, Spurs, Tottenham Hotspur, Getty Images, Ham, Etihad, Everton Locations: West Ham, London,
Adam Neumann founded Flow in 2022 to transform residential real estate. Flow has acquired Whalebone, which bills itself as the "The Ninth-Best Magazine in the World." The magazine is being renamed as the Flow Trip and looks to serve as an in-house content arm. Flow has acquired Whalebone, a quirky bimonthly Montauk lifestyle publication that bills itself as the "The Ninth-Best Magazine in the World," according to an announcement on the magazine's website. This story is available exclusively to Business Insider subscribers.
Persons: Adam Neumann, , WeWork, he's, Neumann Organizations: Magazine, Service, Business
Inflation Eased and Markets Hit New Highs
  + stars: | 2024-05-15 | by ( Matthew Cullen | ) www.nytimes.com   time to read: +1 min
A new inflation report released today offered consumers and policymakers some relief: April prices, with volatile food and fuel prices stripped out, rose 3.6 percent over the previous year — the lowest annual increase in so-called core inflation since early 2021. “This report was mostly good news in that it wasn’t bad news,” our economics reporter Ben Casselman told me. He said that the stubborn price increases in recent months “had begun to erode confidence in the ‘soft landing’ narrative that had taken hold last year. This report doesn’t erase those concerns, but it does at least ease fears that inflation was re-accelerating.”Today’s data showed progress on several fronts. And while gasoline prices ticked up, housing costs — which have proved to be among the most stubborn — showed hints of improvement.
Persons: Ben Casselman,
But economists cautioned that one month of encouraging data was far from enough to set those worries to rest. Both overall and core prices rose 0.3 percent from the previous month, down from 0.4 percent in February and March. The encouraging inflation report on Wednesday is unlikely to change those expectations. The report is also likely to be met with relief at the White House after what has been a rough recent run of inflation data for President Biden. Gasoline prices rose a seasonally adjusted 2.8 percent in April from March.
Persons: , , Stephen Stanley, there’s, Sarah House, Biden, Jerome H, Powell, we’re, Blerina Uruci, Rowe Price, Jeanna Smialek, Jim Tankersley Organizations: Labor Department, Federal Reserve, Santander, White, Federal Reserve Bank of New, Fed Locations: Wells Fargo, Amsterdam, Federal Reserve Bank of New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAdvertising volume will shift between streaming players, says Propagate's Ben SilvermanBen Silverman, Propagate co-CEO and former NBC Entertainment co-chairman, joins 'Money Movers' to discuss how Silverman characterizes the round of television upfronts, which streamers the capital will flow to, and much more.
Persons: Propagate's Ben Silverman Ben Silverman, Silverman Organizations: NBC Entertainment
Brex: 2024 CNBC Disruptor 50
  + stars: | 2024-05-14 | by ( Cnbc.Com Staff | ) www.cnbc.com   time to read: +2 min
Since SVB, Brex has continued to invest in differentiated services, including AI-powered tools to help streamline expense reporting, booking and management capabilities, accounts payable and procurement management. Within 36 hours, Brex signed up nearly 4,000 companies, taking in close to $2 billion in deposits. It has since backtracked on that position, and has doubled down on its roots serving tech startups. The spend management space has become more crowded, with fellow Disruptors Ramp and Navan, as well as Expensify, Mesh Payments, Airbase and Center competing for market share. Tech companies laid off more than 191,000 workers in 2023 — a trend that has continued into 2024.
Persons: Brex, Henrique Dubugras, Pedro Francheschi, Francheschi, Ben Gammell, PitchBook Organizations: Ribbit, DST, San, Airbase, Center, Tech Locations: Salt Lake City, San Francisco, Navan
CNN —Climate protesters interrupted two matches at the Italian Open on Monday, throwing confetti onto the court and gluing themselves to the stands, organizers said. In footage of the event, fans could be heard voicing their displeasure as the protesters ran onto court. Other protesters glued themselves to the stands, organizers said in a statement. Protesters caused a stir in the stands at the Italian Open. You have to do something …”According to the Italian Open organizers, Ultima Generazione were in Rome to discuss “some proposals” and “had already staged several protests.”“The request from the environmentalists of Ultima Generazione is for a reparations fund for climate disasters,” the statement added.
Persons: Madison Keys, Cîrstea, Keys, Świątek, Dan Istitene, Santiago González, Roger, Vasselin, Marcelo Arévalo, Mate Pavić, Pavić, , Organizations: CNN, Cîrstea, Ultima Locations: Italian, Rome
Read previewOpenAI unveiled its latest ChatGPT tech on Monday, presenting a new voice mode that can show and detect emotion in a sophisticated, conversational style. They also cautioned that most people have been reacting to a tech demo, which can often be highly tailored and might not necessarily reflect the product's true capability. pic.twitter.com/ZncytI234K — Allen T (@Mr_AllenT) May 13, 2024OpenAI also showed potential adopters new use cases, such as translation and teaching services. AdvertisementThe new video camera and voice features do wonders for ChatGPT's potential in roles like customer support, van Rossum added. But it's going to be much more difficult for ChatGPT to take over customer support, teaching, or negotiation, Leong said.
Persons: , Scarlett Johansson, OpenAI, — Allen, Mira Murati, ChatGPT, wpB6sGjA7E, Alex Kantrowitz, Siri, Alexa, Daan van Rossum, van Rossum, Leslie Teo, Teo, Ben Leong, it's, Leong, Simon Lucey, Lucey, We've Organizations: Service, Big, Business, AIs, Companies, Singapore, National University of Singapore, University of Adelaide's Australian Institute for Machine, Microsoft Locations: Big Tech, Singapore
Little more than two weeks into Donald J. Trump’s presidency, he and his personal lawyer met in the Oval Office for a private conversation about money. “He asked me if I needed money,” Mr. Cohen added, and volunteered that a check would be forthcoming. When monthly checks started arriving — most bearing Mr. Trump’s signature — they disguised the nature of the payments, Mr. Cohen testified. The stubs described the checks as part of a legal “retainer” agreement, but they were in fact reimbursements for hush money that Mr. Cohen had paid to silence a porn star’s story of sex with Mr. Trump. Mr. Cohen said that Mr. Trump was present when a plan to fictionalize the records was cooked up weeks earlier in New York.
Persons: Donald J, Trump’s, , President Trump, Michael D, Cohen, ” Mr, Trump Locations: New York
High interest rates haven’t crashed the financial system, set off a wave of bankruptcies or caused the recession that many economists feared. But for millions of low- and moderate-income families, high rates are taking a toll. More Americans are falling behind on payments on credit card and auto loans, even as many are taking on more debt than ever before. Monthly interest expenses have soared since the Federal Reserve began raising interest rates two years ago. She is making progress, but high rates aren’t helping.
Persons: , Ora Dorsey, Ms, Dorsey Organizations: Federal Reserve, Army Locations: Clarksville, Tenn
CNN —Never before has there been such anticipation ahead of a WNBA season. It’ll be a busy opening day of action, with four games on the slate – including Caitlin Clark’s Indiana Fever debut at 7.30 p.m. 1 pick in April’s 2024 WNBA draft. But now Clark will lace up her shoes for her WNBA debut when she and her Indiana teammates travel to Connecticut to face the Sun. Angel Reese will look to impress in her debut season for the Chicago Sky.
Persons: Caitlin Clark’s Indiana, Clark, TickPick, Caleb Williams, ” Clark, , Gregory Shamus, Lin Dunn, Los Angeles Sparks –, , Cameron Brink, Rickea Jackson, Sparks, Jackson, Angel Reese, Melissa Tamez, Kamilla Cardoso, Reese, Cardoso, A’ja Wilson, Kelsey Plum, Alysha Clark, Candance Parker, Sabrina Ionescu, Breanna Stewart, Courtney Vandersloot, Jonquel Jones, Sandy Brondello, Alyssa Thomas, DeWanna Bonner, Leila Lacan Organizations: CNN, WNBA, Washington Mystics, New York Liberty, Entertainment, Sports Arena, Mystics, Liberty, ESPN3, ESPN, Amazon Prime, ION, NBA, ABC, CBS Sports Network, CBS, Paramount, NCAA, Iowa Hawkeyes, Chicago Bears, Sun, Mohegan Sun, Aliyah, Los Angeles Sparks, Los, Chicago Sky, LSU, Aces, Las Vegas Aces, Las, Barclays Center . The Liberty, Vegas, Connecticut Sun Locations: Washington , DC, Indiana, Connecticut, Aliyah Boston, Boston, Clark, Boston , Indiana, Brink, Los Angeles, Chicago, Illinois, South Carolina, Las Vegas, New York, Angers, France
Some brittle stars give an arm and a leg (and still another appendage) to reproduce. This process, known as clonal fragmentation, is practiced by almost 50 species of existing brittle stars and their starfish relatives. However, scientists have found it difficult to determine when brittle stars, a gangly group of echinoderms, started reproducing this way. A recently discovered fossil from Germany pushes the origin of cloning sea stars back more than 150 million years. The specimen, he added, shows that “clonal fragmentation is actually much older than people previously thought.”
Persons: , Ben Thuy Organizations: Royal Society, National Museum of Locations: Germany, Luxembourg
writes about economics with a particular focus on stories involving data. He has covered the economy for nearly 20 years, and his recent work has focused on how trends in labor, politics, technology and demographics have shaped the way we live and work.
He also pleaded guilty to personal financial crimes unrelated to Mr. Trump, including tax evasion. Three months later, Mr. Cohen was back in federal court to plead guilty once again. That time, he accepted responsibility for lying to Congress about plans to build a Trump Tower in Moscow, saying he did so out of loyalty to Mr. Trump. His loyalty faded in 2018 as the authorities closed in on Mr. Cohen, and Mr. Trump shunned him. Mr. Cohen is now the star witness in Mr. Trump’s criminal trial in Manhattan, which centers on a hush-money deal.
Persons: Michael D, Cohen’s, Cohen, Donald J, Trump, Mr Organizations: Trump, Mr Locations: Moscow, Manhattan, Otisville, New York City
Michael D. Cohen, the do-anything fixer who once boasted of burying Donald J. Trump’s secrets and spreading his lies, took the stand at the former president’s criminal trial in Manhattan on Monday and exposed those machinations to the jury and the world. Narrating the prosecution’s case in tell-all detail, Mr. Cohen testified that Mr. Trump in 2016 had personally directed him to pay off a porn star and had approved a dubious reimbursement plan. “Just do it,” the former fixer recalled Mr. Trump saying about the hush-money payment to the porn star, Stormy Daniels. After Mr. Trump had won the White House, Mr. Cohen demanded his money back, he said, and met with Mr. Trump, who approved monthly reimbursements. Then, the president-elect changed the subject to his new job, saying “This is going to be one heck of a ride in D.C.”
Persons: Michael D, Cohen, Donald J, Trump, Stormy Daniels, Organizations: White, Mr Locations: Manhattan
This week, however, Mr. Cohen is poised to unfix Mr. Trump’s life. And, on occasion, Mr. Cohen has said, Mr. Trump put Mr. Cohen on the phone with his wife, Melania, to reassure her that he hadn’t been unfaithful. Mr. Cohen was no longer a Trump Organization employee, and Mr. Trump had excluded him from a job in Washington. When one of Mr. Trump’s friends asked Mr. Trump why he kept Mr. Cohen so close, Mr. Trump replied, “He has his purpose.”Image In 2016, Mr. Cohen campaigned for Mr. Trump, but he did not get a job in the administration. At that meeting, Mr. Cohen has said, he and Mr. Trump confirmed their plan to falsify the records.
Persons: Michael D, Cohen, Donald J, Trump, litigators, Cohen’s, Trump’s, Stormy Daniels, Mr, lackey, , Jim Cole, , Donny Deutsch, ” Mr, Deutsch, “ Donald, Trump’s “, , ” ‘, T.J . Kirkpatrick, ” Jeffrey McConney, dryly, Roy M, Cohn, Joseph McCarthy, Rosie O’Donnell, John Taggart, Barron, Donald Trump Jr, hadn’t, Black, Karen McDougal, Daniels, Jonathan Ernst, Cohen puttered, Lanny J, Davis, doesn’t revel, Omarosa Manigault Newman, Michael, Jim Lo Scalzo, You’re, , Alina Habba, perjured, isn’t, Habba, Ms, “ You’re, Hope Hicks, scoffed, “ Michael Cohen Organizations: York, Prosecutors, Mr, Trump, Associated, The New York Times, Trump Organization, CNBC, Communist, National Enquirer, Playboy, Credit, Nike, “ Fox & Friends, Democratic, Federal Bureau of Prisons, White, New Locations: Manhattan, New York, Long, Trump’s New York, Trump, Miami, Moscow, Iowa, Washington, Otisville
Israelis gathered across the country on Monday for the first national day of mourning since the Hamas-led Oct. 7 attacks, with protesters disrupting several ceremonies as they demanded that government ministers do more to secure the release of hostages. Israel’s Memorial Day is normally one of the most somber on the country’s calendar, a date when Israelis put aside their differences to grieve fellow citizens killed in war or terrorist attacks. But the protests on Monday underscored how feelings of wartime unity have given way to deep disputes over the war in the Gaza Strip, the fate of hostages taken on Oct. 7 and domestic politics. Critics heckled Prime Minister Benjamin Netanyahu as he attended a memorial at Mount Herzl in Jerusalem, the site of Israel’s national cemetery. One person was heard shouting, “Garbage.” Another said, “You took my children.”At a ceremony in Ashdod, on the Mediterranean coast, bystanders shouted at the national security minister, Itamar Ben-Gvir, calling him a “criminal,” before his supporters tried to drown them out.
Persons: Israel’s, Critics, Benjamin Netanyahu, Mount, , , Itamar Ben Locations: Gaza, Mount Herzl, Jerusalem, Ashdod
And on Monday, as Donald J. Trump’s criminal trial enters its fifth week, they will finally meet him: Michael D. Cohen, Mr. Trump’s former fixer and the prosecutions’s star witness. Mr. Cohen, once Mr. Trump’s loyal attack dog and now his dedicated antagonist, will take the stand in the first criminal trial of an American president. He is expected to testify that he did so at Mr. Trump’s direction. He is also likely to say that, once Mr. Trump was in the White House, the president reimbursed him after the two met in the Oval Office in February 2017. And he will almost certainly confirm the crux of the prosecution’s case: that Mr. Trump orchestrated a plan to falsify records that disguised the reimbursement as ordinary legal expenses.
Persons: Donald J, Michael D, Cohen, Trump’s, Trump
The contributors listed on the tax return include billionaire Republican megadonor Jeff Yass, who Accuracy in Media said gave it $1 million. The family foundation of shipping supply magnate Richard Uihlein is also identified on the tax return, which says the Ed Uihlein Family Foundation gave $10,000. According to its tax return, Accuracy in Media said it received $15,000 from the Coors brewing family's charitable foundation. But AIM president Adam Guillette told CNBC Yass had been misidentified, and he did not give to the organization. Nonprofit groups are not required to release their donors' names publicly, but they are required to report to the IRS the names of donors who gave $5,000 or more.
Persons: Claudine Gay, Pat Greenhouse, Jeff Yass, Richard Uihlein, Ed Uihlein, Milstein, Adam Milstein, Adolph Coors, Peter H, Janine, John Harvard, Joseph Prezioso, Adam Guillette, Guillette, Phil Headley, Uihlein, Israel, Ben Curtis Organizations: Harvard, Harvard University, Boston Globe, CNBC, Media, Foundation, Milstein Family Foundation, Internal Revenue, Coors, Adolph Coors Foundation, Molson Coors, Susquehanna International Group, Pro, Harvard University in, Afp, Getty, IRS, CNBC Yass, JBS, Company, AIM, Nonprofit, Independent Women's, South, IWF, Amazon, Project Veritas, Harvard College Locations: Yass, Uihlein, Harvard University in Cambridge , Massachusetts, South Carolina, Israel, Gaza, Harvard University in Cambridge
"One, you have to have a clear, credible plan to protect civilians, which we haven't seen. Second, we also need to see a plan for what happens after this conflict in Gaza is over, and we still haven't seen that." The Israel-Hamas war has killed more than 34,000 people in Gaza, according to Palestinian health authorities in the besieged enclave. We're seeing parts of Gaza that Israel has cleared of Hamas where Hamas is coming back, including in the north, including in Khan Younis," Blinken said. Smoke rises after Israeli airstrikes in eastern Rafah, Gaza on May 07, 2024.
Persons: Antony Blinken, Mike Herzog, Evelyn Hockstein, Blinken, Biden, Joe Biden, Ashraf Amra, Benjamin Netanyahu, Khan Younis, Abed Rahim Khatib, We've Organizations: Ben, Reuters U.S, CBS, Israel, Administration, Anadolu, Getty, Hamas, State Department, NBC Locations: U.S, Ben Gurion, Tel Aviv, Israel, Gaza, Rafah, Deir, Balah, Palestinian, America, Egypt
During Ben Johns' first year as a professional pickleball player, he could barely support himself financially. Now, he's making $2.5 million in pickleball salary alone this year, he tells CNBC Make It — plus more in endorsement deals and sponsorship contracts. Johns, 25, is currently the Professional Pickleball Association Tour's No. 1 ranked player in men's doubles and the top-ranked male player in mixed doubles. In 2021, Johns made $250,000, he told CNBC at the time — which would mean his salary has increased tenfold since then.
Persons: Ben Johns, Johns, He's Organizations: CNBC, Professional Pickleball Locations: pickleball
Honey, I Love You. Didn’t You See My Slack About It?
  + stars: | 2024-05-12 | by ( Erin Griffith | ) www.nytimes.com   time to read: +1 min
Ben Lang didn’t expect to get so much hate just for being organized. For the past three years, he and his wife, Karen-Lynn Amouyal, have been using Notion, a popular software tool, to optimize their household and relationship. More unusual is a section Mr. Lang, a venture capital investor who previously worked at Notion, created about principles (“what’s important to us as a couple”). Another section, called “Learnings,” outlines things the couple have discovered about each other, such as their love languages and Myers-Briggs test results. Mr. Lang, 30, was so proud of the creation that last month, he started promoting a template of the setup to others.
Persons: Ben Lang didn’t, Lynn Amouyal, Lang, Briggs, , Organizations: Google
Donald J. Trump has always surrounded himself with lawyers — all types of lawyers. And then there was the singular Michael D. Cohen, lawyer by trade and enforcer by nature. With the loyalty of a surrogate son, he kept Mr. Trump’s secrets and cleaned up his messes. This week, however, Mr. Cohen is poised to unfix Mr. Trump’s life. When he takes the stand as a vital witness at Mr. Trump’s criminal trial in Manhattan, Mr. Cohen will unearth some of the secrets he buried, revealing a mess that prosecutors say his former boss was desperate to hide.
Persons: Donald J, Trump, litigators, Michael D, Cohen Locations: Manhattan
Warnings continued against the growing offensive in Rafah, considered the last refuge in Gaza for more than a million civilians as well as Hamas' last stronghold. The two towns near Gaza's northern border with Israel were heavily bombed in the opening days of the war. Israel has now evacuated the eastern third of Rafah, and Hagari said dozens of militants had been killed there as "targeted operations continued." Israeli troops have captured the Gaza side of the Rafah crossing, forcing it to shut down. Smoke billows after Israeli bombardment in central Gaza City on March 18, 2024, amid the ongoing battles between Israel and the militant group Hamas.
Persons: Antony Blinken, Israel, Volker Turk, Benjamin Netanyahu, Hatem Khaled, Netanyahu, Abdel, Kareem Radwan, Daniel Hagari, Ben Caspit, Khan Younis, Hagari Organizations: Hamas, Afp, Getty, U.S, CBS, International Court of Justice, United Nations, Palestinian Authority, West Bank, Health Ministry, Palestinian Civil Defense, Al Qahera News Locations: Rafah, Gaza, Israel, RAFAH, Egypt, South, United States, Palestinian, Gaza City, Jabaliya, Beit Lahiya, Gaza's, Hamas, Israel's
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