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☆ Miners are selling their bitcoin again as the cryptocurrency struggles to hold onto $70,000
▼ + stars: | 2024-06-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

According to data from CryptoQuant, the flow of bitcoin leaving miners wallets for exchanges – which indicates a selling event – reached a two-month high last weekend. Additionally, miner selling through over-the-counter desks saw its biggest daily volume since late March. CryptoQuant shows the hourly transfer of bitcoin from miners to exchanges rose to more than 3,000 bitcoins on June 9. "Daily bitcoin miner revenues stand today at about $35 million, down 55% from their 2024 peak reached in March." That's mostly as a result of "depressed" transaction fees, however, rather than the slashing of miners' block reward at the halving.

Persons: –, Mike Colonnese, Wainwright, we're, Bitcoin, Julio Moreno, Moreno, Colonnese, Iris, Iren, They've Organizations: H.C, Iris Energy Locations: CryptoQuant

☆ Endangered Republicans gamble backing Trump after guilty verdict as vulnerable Democrats remain cautious
▼ + stars: | 2024-06-09 | by ( Manu Raju | Annie Grayer | ) edition.cnn.com time to read: +10 min

CNN —Former President Donald Trump lost Rep. Mike Garcia’s district by more than 12 points four years ago. I’m the Republican,” said Rep. Lori Chavez-DeRemer, whose Oregon district Biden won by eight points in 2020, confirming she’s sticking with Trump after his conviction. Rep. Mike Lawler, whose New York district Biden carried by 10 points, sharply criticized the prosecution against Trump. Republicans in this camp believe there is no limit to how hard they can lean in to talking about Trump’s conviction and see the Trump verdict as a golden ticket. GOP Rep. Ralph Norman, a Republican hardliner from South Carolina, said Republicans would “absolutely” retaliate against Trump’s political enemies after November, including prosecutors.

Persons: Donald Trump’s, Manu Raju ”, Donald Trump, Mike Garcia’s, ” Garcia, Joe Biden, There’s, Biden, ”, John Duarte, Trump, “, Richard Hudson, ” Hudson, Suzan, ” George Whitesides, Garcia, Mike Garcia, ” Whitesides, “ Joe Biden who’s, “ who’s, I’m, Lori Chavez, DeRemer, Mike Lawler, ” Lawler, Celal, Bernie Moreno, Tim Sheehy, Sherrod Brown, Jon Tester, Sheehy, Tester, ” Tester, ” Brown, I’ve, Brown, Sen, Bob Casey, Stephanie Bice, Anna Moneymaker, Nick LaLota, Attorney Alvin Bragg, ” LaLota, Republican Sen, Thom Tillis, Mitch McConnell, ” Tillis, Mike Johnson, Jim Jordan, Johnson, – Jordan, Chip Roy, ” Roy, Marjorie Taylor Greene, ” Greene, Ralph Norman, ” Norman, Tesfaldet, Morgan Rimmer Organizations: CNN, California Republican, Trump, “, Republicans, Democrats, Biden, GOP, North Carolina Republican, ”, Democratic, of, Republican, Washington DC, Getty, New York, Manhattan, Attorney, Department of Justice, DOJ, Republican Party Locations: California, York, Washington, of California, Oregon, New York, Anadolu, Ohio, Montana, Pennsylvania, Washington , DC, New, Hill, South Carolina

☆ Bitcoin ETFs bring in a new investor who bucks the 'HODL' culture and rebalances as bitcoin soars
▼ + stars: | 2024-06-08 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Crypto's culture encourages investors to "HODL," or hold on for dear life, in the rollercoaster ride of bitcoin 's extreme fluctuations. But this long-prized practice may diminish as adoption of ETFs grows, particularly if traditional investors who are accustomed to rebalancing their portfolios regularly add in bitcoin exposure. "From a risk management point of view, rebalancing is a good thing. But rebalancing also means that they're going to be sellers along this journey." At the moment, long-term holders are selling, as is normal during bull markets, after accumulating bitcoin during the bear market.

Persons: Donald Marron, rebalancing, Julio Moreno Organizations: Urban Institute Locations: Austin , Texas

☆ Bitcoin investors see sideways trading in June as focus turns to Washington
▼ + stars: | 2024-06-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

That's thanks to last week's ether-led rally ahead of the SEC's approval of a rule change allowing ether ETFs in the U.S., when ether surged 20% in two days. Now, aspiring sponsors of ether ETFs need to file their S-1 registration forms for the individual funds. Until then, crypto is without a clear catalyst, with bitcoin ETFs and the halving in the rear view window. Bitcoin miners struggle after the halving Elsewhere, the bitcoin price could see some pressure from miner selling. Market watchers anticipated this would hppen after April's bitcoin halving, which slashed a key revenue source – the block reward – for bitcoin miners.

Persons: cryptocurrency, Antoni Trenchev, Bitcoin, Trenchev, Yuya Hasegawa, Hasegawa, Julio Moreno, there's Organizations: Metrics, SEC, Federal Locations: U.S, Washington

☆ Price Pack Architecture
▼ + stars: | 2024-05-31 | by ( J. Edward Moreno | ) www.nytimes.com time to read: +1 min

But corporate leaders prefer another, more obscure term: “price pack architecture.”Executives at large companies mentioned “price pack architecture” twice as often during events with investors in the first quarter of this year versus the same period last year, according to a search of transcripts for U.S. companies with market values of $10 billion or more on AlphaSense, a data platform. Technically, price pack architecture refers to a strategy in which a company adjusts a product’s packaging — “portion control” snack sizes, for example, or stay-fresh features like zipper bags — to offer consumers more options. But companies have recently used the phrase almost exclusively euphemistically, to describe shrinking products, with price tags that are the same or higher than the ones they used to sell. Companies sometimes do this to cover the rising costs of ingredients that go into their products. But as companies’ costs have moderated, they’ve bolstered profits by lowering prices slowly, if at all.

Organizations: Companies

☆ How Republicans in Key Senate Races Are Flip-Flopping on Abortion
▼ + stars: | 2024-05-30 | by ( Jess Bidgood | Lisa Lerer | ) www.nytimes.com time to read: +1 min

Republican candidates in all eight of the country’s most competitive Senate races have changed their approach on the issue of abortion, softening their rhetoric, shifting their positions and, in at least one case, embracing policies championed by Democrats. From Michigan to Maryland, Republicans are trying to repackage their views to defang an issue that has hurt their party at the ballot box since the Supreme Court overturned federal abortion rights. While the pivot is endemic across races in swing states, the most striking shifts have come from candidates who unsuccessfully ran for the Senate just two years ago in their home states, with abortion views that sounded very different. When Bernie Moreno, a Republican businessman, ran for a Senate seat in Ohio in 2022, he described his views as “absolute pro-life, no exceptions.”“Life begins at conception” and “abortion is the murder of an innocent baby,” he said on social media.

Persons: Bernie Moreno, ” Organizations: Republican Locations: Michigan, Maryland, Ohio

☆ Mexico’s next president will be a woman. But violence has overshadowed the glass ceiling being shattered.
▼ + stars: | 2024-05-29 | by ( Tara John | ) edition.cnn.com time to read: +11 min

Sheinbaum is riding on a wave of popularity with the support of her long-time ally, Mexican President Andrés Manuel López Obrador, and their leftist Morena party. Mexico's President Andrés Manuel López Obrador gestures during an event in Mexico City. It was a strategy that saw the son of Mexican drug lord Joaquin “El Chapo” Guzman released on the orders of López Obrador in 2019 to avoid bloodshed. The Supreme Court upheld an opposition complaint and ordered López Obrador to return the National Guard to civilian jurisdiction. Amid ongoing “gender-based violence, including femicides and disappearances,” Kloppe-Santamaría said, getting a female president at this moment feels “very paradoxical.”

Persons: Claudia Sheinbaum, “, Sheinbaum, –, Andrés Manuel López Obrador, Xochitl Gálvez, Raquel Cunha, ” Stephanie Brewer, ”, López Obrador’s, Enrique Peña Nieto’s, Ulises Ruiz, Galvez, ” Gálvez, …, ” Brewer, Felipe Calderón, “ Militarization, López Obrador, Joaquin “ El Chapo ” Guzman, Armando Perez Luna, Ivan Macias Ivan Macias, Brewer, Falko Ernst, Gema, Santamaría Organizations: CNN, Mexico City, PAN, Reuters, Washington Office, Latin, Mexico’s National Institute of Statistics, –, coy, Mirador, AFP, Getty, National Guard, Defense, Defense . Police, National Action Party, REUTERS, Crisis, ” CNN, Defence, George Washington University ., Galvaz, Mexico City police Locations: Mexico, ”, Chiapas, Mexico’s, Guatemala, Morena, Mexico City, “ Mexico, Latin America, WOLA, Mirador San Miguel, Lagos de Moreno, Jalisco State, militarization, Maravatio, Michoacan, Mexican, femicides

☆ The Big Number: $48.75
▼ + stars: | 2024-05-24 | by ( J. Edward Moreno | ) www.nytimes.com time to read: 1 min

But just as quickly as the price shot up, it plunged. GameStop shares closed at $18.32 on Thursday, down more than 60 percent from their peak. In just a little over a week, much of the billions of dollars in market value that the company had gained was lost. GameStop’s wild ride can be traced to Keith Gill, the trader known as “Roaring Kitty,” who returned to social media on May 12 after a nearly three-year hiatus.

Persons: Keith Gill, ” Organizations: GameStop

☆ The Dominican Republic votes on Sunday. Here’s what to know
▼ + stars: | 2024-05-17 | by ( Jessica Hasbun | ) edition.cnn.com time to read: +10 min

Santo Domingo, Dominican Republic CNN —The Dominican Republic is days away from a general election that will see voters elect new lawmakers and the president as they weigh the nation’s economy and security. During his first term from 2020 to 2024, the Dominican Republic established a new record in the tourism industry, with more than 10 million tourists visiting the island in 2023. Former President of the Dominican Republic and presidential candidate of the People's Force party Leonel Fernandez greets supporters as he attends a closing campaign rally ahead of Sunday's election, in Santo Domingo, Dominican Republic, May 15, 2024. Martinez poses during an interview with EFE, in Santo Domingo, Dominican Republic, 13 May 2024. People wait in Ouanaminthe, Haiti to cross into Dajabon, Dominican Republic, Friday, May 17, 2024.

Persons: Santo Domingo, Dominican Republic CNN —, Luis Abinader, “ Abinader, ”, Bernardo Vega, Vega, National District Guillermo Moreno, Orlando Barria, Rosario Espinal, Abinader, Critics, Leonel Fernández, Fernandez, Leonel Fernandez, Henry Romero, “, Abel Martínez, Martinez, EFE, Pablo Flores, Flores, Matias Delacroix, Ney Segura Organizations: Dominican Republic CNN, Caribbean nation’s, Modern Revolutionary Party, National Police, Bank, National District, Dominican Liberation Party, Dominican, People's Force, Reuters, Force, People, Quarterly, United Nations, Santo, country’s National, US State Department, World Bank Locations: Dominican Republic, Dominican, Santo Domingo, Haiti, Port, Santiago, Caribbean, Ouanaminthe, Dajabon

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy ether's supply is growing again and what it means for investors: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Julio Moreno, head of research at CryptoQuant, explains why he believes Ethereum's latest upgrade has made ETH inflationary once again.

Persons: explainers, Julio Moreno, Ethereum's Organizations: CNBC Crypto, CNBC

☆ GameStop Shares Surge After ‘Roaring Kitty’ Re-emerges
▼ + stars: | 2024-05-13 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

GameStop’s share price skyrocketed on Monday after the man who became the face of “meme stock” mania in 2021 with his enthusiastic promotion of the struggling video game retailer emerged from a three-year hiatus. On Sunday evening, Keith Gill, the trader known on some social media platforms as Roaring Kitty, posted an illustration of a person holding a video game controller while leaning forward on a chair on X. On no other news, GameStop’s stock more than doubled in early trading, prompting several temporary volatility-related halts by the New York Stock Exchange. The company’s shares approached a two-year high, adding billions in market value in a matter of hours. But even after Monday’s surge, GameStop’s stock remained well below the heights it reached in 2021.

Persons: Keith Gill, Kitty, Gill, Ferris, Ludacris Organizations: New York Stock Exchange, GameStop, AMC Entertainment

He is running for the Senate as an immigrant who made good, reaching out to Ohio voters with a stirring, only-in-America bootstraps story: arriving as a child from Colombia, taking a risk on a struggling business, and then turning it into a smashing success and himself into a millionaire 100 times over. Running under the banner of Donald J. Trump’s populist political movement, Bernie Moreno, the Republican challenging Senator Sherrod Brown, humbly calls himself a “car guy from Cleveland” and recounts the modest circumstances of his childhood, when his immigrant family started over from scratch in the United States. “We came here with absolutely nothing — we came here legally — but we came here, nine of us in a two-bedroom apartment,” Mr. Moreno said in 2023, in what became his signature pitch. His father “had to leave everything behind,” he has said, remembering what he called his family’s “lower-middle-class status.”But there is much more that Mr. Moreno does not say about his background, his upbringing and his very powerful present-day ties in the country where he was born.

Persons: Donald J, Bernie Moreno, Sherrod Brown, Cleveland ”, “, ” Mr, Moreno, ” Organizations: Senate, Republican Locations: Ohio, America, Colombia, Cleveland, United States

☆ The problem with Ether right now for investors
▼ + stars: | 2024-05-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

While the supply of bitcoin is slowing after the halving , the supply of ether is growing at its fastest rate since 2022, according to CryptoQuant – crushing some investor's dreams of ether as an asset that would grow increasingly scarce. The median transaction fee is about 4x lower now that it was before Dencun for the same level of network activity. Some investors had hoped ether could compete with bitcoin, whose rate of supply growth slows every four years after the halving. For many, that idea was a side effect of the primary thesis on Ethereum, which sees it as a growing, scalable transaction network on which to build applications. Network activity would have to increase 3 to 4x to reverse the growing supply trend, if this relationship holds, he said.

Persons: Dencun, Julio Moreno, CryptoQuant's, Ethereum, Moreno Locations: ETH

☆ Opinion | Rita, Anita, My Mother and Me
▼ + stars: | 2024-05-11 | by ( Deborah Paredez | ) www.nytimes.com time to read: +1 min

Some Latina mothers teach their daughters how to spoon masa or plátano onto a corn husk or banana leaf when making tamales or pasteles. My Latina mother taught me to love musicals. Perhaps it’s because, like all musicals, “West Side Story” is a complex form of representation that revels in both its messiness and its marvelousness. My mother was showing me a diva who could move across these imposed limits. Many of us have cataloged and condemned the musical’s depictions of criminal youth and blatantly sexual women all speaking in exaggerated accents.

Persons: Barbra Streisand, Fanny Brice, Diana Ross, Rita Moreno, Anita, ” Organizations: Broadway Locations: “, America

☆ Why Your Chocolate Fix Is About to Get More Expensive
▼ + stars: | 2024-05-10 | by ( J. Edward Moreno | ) www.nytimes.com time to read: +1 min

A failed crop, followed by a wave of financial speculation, put cocoa prices on a roller coaster this year, rattling an industry reliant on inexpensive crops and labor. For much of the past decade, the price of cocoa in one key global benchmark hovered around $2,500 per metric ton. They pushed the price above $6,000 a ton in February, $9,000 a ton in March and $11,000 a ton in mid-April. Since then, the price has swung wildly, falling nearly 30 percent in just two weeks before bouncing up again. Large food companies have been raising prices and warning that they’ll have to continue to do so if cocoa doesn’t stabilize.

Persons: they’ve Locations: West Africa

☆ 'The Fall Guy' director explains how he pulled off that famous cameo
▼ + stars: | 2024-05-04 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +2 min

Warning: Spoilers ahead for "The Fall Guy." But by the end of the movie, director David Leitch blesses us with one more big-name star: Jason Momoa. "The Fall Guy" is set around the production of a big-budget sci-fi epic titled "Metalstorm," which stars Aaron Taylor-Johnson's character, Tom Ryder, and is directed by Emily Blunt's character, Jody Moreno. AdvertisementRyan Gosling and Emily Blunt in "The Fall Guy." "The Fall Guy" is in theaters now.

Persons: Guy, David Leitch, —, Ryan Gosling, Emily Blunt, Hannah Waddingham, Winston Duke, Stephanie Hsu, Aaron Taylor, Johnson, Jason Momoa, Tom Ryder, Emily Blunt's, Jody Moreno, Ryan Gosling's, Colt Seavers, Ryder, Moreno, Leitch's, Jason, Conan, Leitch, " Leitch, Momoa, Brad Pitt, Hobbs, Shaw, Kevin Hart, Channing Tatum, Ryan Reynolds Organizations: Service, Universal Sporting Locations: Australia, New Zealand

Just as Wall Street appeared to come to terms with the idea of high interest rates sticking around for longer, a cooler-than-expected jobs report on Friday brought the idea of rate cuts back into the conversation. The Labor Department reported that job and wage growth in April came in lower than economists had expected, a shift after months of piping-hot labor market reports. The findings rekindled hopes that the Federal Reserve — which has been looking for signs that interest rates are slowing the economy — may yet cut rates before the end of the year. “This is the jobs report the Fed would have scripted,” said Seema Shah, chief global strategist at Principal Asset Management. The S&P 500 rose 1.3 percent on Friday, its best day in more than two months.

Persons: ”, Seema Shah, Russell Organizations: Labor Department, Federal, Asset Management

☆ The husband and wife team behind 'The Fall Guy' reveal how their own love affair inspired stars Emily Blunt and Ryan Gosling
▼ + stars: | 2024-05-03 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +8 min

Their latest film, "The Fall Guy," looks to continue that streak of success. 'The Fall Guy' evolved from film noir to action rom-comRyan Gosling plays stuntman Colt Seavers in "The Fall Guy." Eric Laciste/Universal Pictures"The Fall Guy" movie adaptation had been bouncing around Hollywood for decades, with everyone from Nicolas Cage to Dwayne "The Rock" Johnson attached to star. AdvertisementIn "The Fall Guy," Gosling's Colt must clear his name after footage appears to implicate him in the death of another stuntman. AdvertisementThe Taylor Swift song "All Too Well" wasn't originally in the movieRyan Gosling and Emily Blunt in "The Fall Guy."

Persons: —, David Leitch, Kelly McCormick, they've, Shaw, Guy, it's, Lee Majors, Colt Seavers, Ryan Gosling, Jody Moreno, Emily Blunt, Leitch, McCormick, who's, Brad Pitt, McCormack, Gosling, Blunt's, Eric Laciste, Nicolas Cage, Dwayne, Johnson, David, Blunt, Jody, Emily, " Leitch, Ryan, Leitch David Leitch, Kiss, Yungblud, I'm, Tom Cruise's, Taylor, Colt, Harry Nilsson's, Taylor's Organizations: Service, Business, Pictures, Universal, Colt, deepfakes, Hollywood Locations: Hollywood

☆ Peloton Chief Executive Steps Down as Company Cuts 15% of Staff
▼ + stars: | 2024-05-02 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Peloton said on Thursday that its chief executive, Barry McCarthy, was stepping down and it would lay off more workers, as it continued to struggle in the fitness market. The connected-fitness company announced disappointing quarterly earnings on Thursday, with revenue down 4 percent from last year. The company, which has not turned a profit since December 2020, is also looking to refinance more than $1 billion in debt. Peloton had a spectacular rise at the start of the pandemic, when gyms and fitness centers closed and consumers were hungry for at-home workout options. But after gyms reopened, Peloton began to face stiffer competition from companies like Bowflex and Lululemon.

Persons: Barry McCarthy, Kevin Dietsch Organizations: Spotify, Netflix

☆ Johnson & Johnson Proposes $6.5 Billion in New Talc Settlement Offer
▼ + stars: | 2024-05-01 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Johnson & Johnson said on Wednesday that it would ask tens of thousands of people suing the company over claims that its talcum powder products caused their cancer to approve a new $6.5 billion settlement, its third attempt to resolve the lawsuits. The proposal would settle nearly all current and future claims that its talcum powder products caused ovarian cancer, the company said. Judges have rejected the two previous attempts, on the grounds that bankruptcy court isn’t the right venue for them. Representatives for Johnson & Johnson declined to comment beyond its announcement. The company has long denied those claims, but has in recent years stopped selling talc-based baby powder worldwide.

Persons: Johnson, — Organizations: Johnson

☆ Rita Moreno says her only daughter has helped her cope with aging: '92 is not easy in many ways'
▼ + stars: | 2024-04-29 | by ( Amanda Goh | ) www.businessinsider.com time to read: +1 min

Rita Moreno, 92, says her daughter helps her cope with the difficulties of aging. Moreno told People she needs her daughter's wisdom "more often than you might think." AdvertisementRita Moreno, 92, says aging has brought her closer to her daughter. "I'm constantly calling upon her to do things," Moreno told People. "I have a problem with remembering names, names of things, and names of people.

Persons: Rita Moreno, Moreno, —, Fernanda Luisa Gordon, Leonard Gordon, I'm Organizations: Urban Institute, Service, Business

☆ Julian Assange’s mission was to change the world - but at what cost?
▼ + stars: | 2024-04-27 | by ( Lauren Said-Moorhouse | Claudia Rebaza | ) edition.cnn.com time to read: +14 min

Julian Assange leaves a Melbourne court after facing charges of computer hacking in 1995. WikiLeaks/ReutersUnder a global spotlightAs WikiLeaks continued its disclosures, Assange found himself the latest cause célèbre – his every movement intensely scrutinized. … He liked the fuss that (the disclosures) caused but he was oddly incurious actually about the documents.”Others offer alternative explanations for Assange’s eccentricities. There were mounting calls for Assange to leave WikiLeaks and, when he didn’t, many cut ties with it. Outside the confines of his diplomatic shelter, the world questioned whether Assange was trying to circumvent justice.

Persons: London CNN — Julian Assange, ”, He’s, Chelsea Manning, Joe Biden, Assange’s, Anthony Albanese, Assange, “, ” –, Julian Assange, Ian Kenins, Sarah Palin’s, Atika Shubert, Shubert, ” Shubert, célèbre, Fidel Narvaez, “ Assange, ” Narvaez, James Ball, Joe Raedle, ” Ball, Ball, …, Narvaez, Hans Crescent, Lenin Moreno, Moreno, Abu Hamza al, Masri, Stella Assange, Daniel Leal, Stella, “ I’m, Nick Vamos, It’s, Alice Jill Edwards, Agnès Callamard, El País, Der Spiegel, Jameel Jaffer, Xiaofei Xu, Alex Stambaugh Organizations: London CNN, WikiLeaks, Court, Ecuadorian, Army, Australian, Pentagon, NASA, University of Melbourne, Fairfax Media, of Scientology, Republican, CNN, Chelsea, Apache, Reuters, Guardian, Ellingham, Hans, London’s Metropolitan Police, US Justice Department, of Justice, Britain's, Getty, Peters & Peters, Prosecution Service, Human Rights, UN, Amnesty, The New York Times, Columbia University Locations: United States, Australian, London’s, Australia, Townsville, Queensland, cybercrime, Melbourne, Guantanamo Bay, Cuba, Iraq, London, Afghanistan, ”, Sweden, Ecuador, UK’s, Belmarsh

☆ Auto Safety Regulator Investigating Tesla Recall of Autopilot
▼ + stars: | 2024-04-26 | by ( J. Edward Moreno | ) www.nytimes.com time to read: +1 min

The federal government’s main auto safety agency said on Friday that it was investigating Tesla’s recall of its Autopilot driver-assistance system because regulators were concerned that the company had not done enough to ensure that drivers remained attentive while using the technology. The National Highway Traffic Safety Administration said in documents posted on its website that it was looking into Tesla’s recall in December of two million vehicles, which covered nearly all of the cars the company had manufactured in the United States since 2012. The safety agency said that it had concerns about crashes that took place after the recall and results from preliminary tests of recalled vehicles. The investigation adds to a list of headaches for Tesla, the dominant electric vehicle maker in the United States. Tesla announced in December that it would recall its autopilot software after an investigation by the auto safety agency found that the carmaker hadn’t put in place enough safeguards to make sure the system, which can accelerate, brake and control cars in other ways, was used safely by drivers who were supposed to be ready at any moment to retake control of their cars using Autopilot.

Persons: Tesla, hadn’t Organizations: Traffic Safety Administration Locations: United States

☆ Southwest Quits Four Airports in Cost-Cutting Drive
▼ + stars: | 2024-04-25 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Southwest Airlines is ceasing operations at four airports, and reducing flights from others, in an effort to cut costs after its growth plans were curtailed by fewer than expected plane deliveries from Boeing. The airline, which flies only Boeing 737 planes, said on Thursday that delays from the embattled aircraft manufacturer were behind its struggles. Southwest reported a loss of $231 million for the first quarter, worse than analysts expected, sending its share price down 10 percent in early trading. To cut costs because of its curtailed growth plans, Southwest said it would cease operations at four airports from early August: Bellingham International Airport in Washington State, Cozumel International Airport, George Bush Intercontinental Airport in Houston, and Syracuse Hancock International Airport. It would also “significantly restructure” its flights from other airports, most notably by reducing flights at Hartsfield-Jackson Atlanta International Airport and Chicago O’Hare International Airport.

Persons: George Bush Organizations: Airlines, Boeing, Bellingham International Airport, Cozumel International Airport, George, George Bush Intercontinental Airport, Syracuse Hancock International, Hartsfield, Jackson Atlanta International Airport, Chicago O’Hare International, Max, Alaska Airlines Locations: Bellingham, Washington State, Cozumel, Houston

☆ Business Groups Sue to Stop F.T.C. From Banning Noncompete Clauses
▼ + stars: | 2024-04-24 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

The lawsuit, filed in a U.S. District Court in Texas, argued that the F.T.C. The Chamber of Commerce was joined by three other business groups: the Business Roundtable, the Texas Association of Business and the Longview Chamber of Commerce. announced a final rule to ban the noncompete agreements. The rule was approved in a 3-to-2 vote, with both Republican commissioners voting against the measure. The Chamber of Commerce vowed to challenge the rule shortly after the vote.

Organizations: U.S . Chamber, Commerce, Federal Trade Commission, Business, Texas Association of Business, Longview Chamber of Commerce Locations: U.S, Texas, Longview

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