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☆ China’s Chang’e-6 lunar probe returns with first-ever samples from far side of the moon
▼ + stars: | 2024-06-25 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

The Chang'e-6 probe being successfully launched from China's Wenchang Spaceport in Wenchang, Hainan Province, China, on May 3, 2024. China's Chang'e-6 lunar probe returned to Earth on Tuesday, bringing back the first-ever samples from the unexplored far side of the moon. Chang'e-6 returned to Earth with soil collected from the South Pole-Aitken Basin — a massive crater in the lunar hemisphere that always faces away from Earth. In total, Chang'e-6 mission took 53 days from its May 3 departure from the Wenchang Space Launch Center in Hainan, an island off China's south coast. The far side of the moon was first captured in images in 1959 by the Soviet Luna 3 spacecraft.

Persons: China's, Xi Jinping, Soviet Union —, Neil Armstrong Organizations: China National Space Administration, Soviet Luna, Washington, NASA Locations: Wenchang, Hainan Province, China, Inner Mongolia, Chang'e, Hainan, Beijing, India, Soviet, U.S, Soviet Union, Cold

☆ Citi Wealth's horrible tech is infuriating clients and employees and endangering its turnaround
▼ + stars: | 2024-06-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +11 min

But even clients who get through the door can be reluctant to park more assets with Citi, according to a wealth advisor. To understand the extent of Citi Wealth's tech woes and the stakes, Business Insider spoke with 14 current and former employees. Andy Sieg took over Citi Wealth in September after leaving Merrill Wealth Management. Citi Wealth clients are losing their patienceCiti receives 27,000 monthly complaints from wealth customers, according to the audit. Getting bank statements emailed is difficult for Citi private bank clients when it's a matter of checking a box at other major banks.

Persons: —, Andy Sieg, Roth, Ernst & Young, EY, Merrill Lynch, Sieg, Morgan Stanley, Kris, Wells, Mike Mayo, Jane Fraser, Shadman Zafar, Alois Pirker Organizations: Service, Revlon, Citi, Business, Ernst, Citi Wealth, Merrill Wealth Management, Morgan, Citigroup, Apple, Microsoft, Bankers, Employees, Work, Fidelity, Advisors

☆ The 'Dogs of the Dow' are doing well even as investors chase Nvidia higher
▼ + stars: | 2024-06-25 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

A cohort known as the "dogs" of the Dow Jones Industrial Average is a changing list of stocks with the highest dividend yield at the end of each year. For those who subscribed to the dogs theory, there's largely been upside — with 7 of the 9 stocks beating the Dow. These stats are current as of Monday afternoon: Verizon runs the dog house with the highest current dividend yield at 6.6%. The stock also has a current dividend yield of 3.4%. While Goldman Sachs has seen the best year-to-date performance, the bank has the lowest current dividend yield on the list at just 2.4%.

Persons: It's, Michael O'Higgins, Dow, — Goldman Sachs —, FactSet, Bank of America's Tal Liani, Goldman Sachs Organizations: Dow Jones, Nvidia, Dow, CNBC Pro, Verizon, Cisco, Bank of America's, Walgreens Locations: FactSet

☆ The Ballot Measures Aim to Reduce Partisanship. Can They Fix American Politics?
▼ + stars: | 2024-06-25 | by ( Michael Wines | ) www.nytimes.com time to read: +1 min

Americans of both parties routinely express deep concern about the state of the country’s democracy. This fall, many voters may have a chance to do something about it, by voting on state ballot measures related to the nuts and bolts of elections and governance. Eight states, including Ohio and seven others largely in the West, appear all but certain to field ballot measures that would either overhaul redistricting or rewrite election rules to discourage hyper-partisanship and give voters a greater voice in choosing candidates. Redistricting ballot measures are not uncommon, but since the advent of citizen-backed ballot initiatives in the early 1900s no other year has had more than three election-system initiatives, according to the online elections database Ballotpedia. It creates the perception that we’re living in a democracy, when maybe we’re not.”

Persons: “, Kathy Cunningham, ” Locations: Ohio, Cincinnati

☆ Yellen announces $100 million affordable housing fund as shelter costs weigh on Biden
▼ + stars: | 2024-06-24 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Treasury Secretary Janet Yellen on Monday unveiled a new slate of financing initiatives to support housing development, including a $100 million fund specifically for affordable housing. The past several inflation reports have shown prices slightly cooling off, but shelter costs have remained persistently hot. As part of its new actions, Treasury will provide $100 million over the next three years to finance affordable housing projects. Housing costs in particular, which make up some of the largest portions of consumer spending, have remained stubbornly high even as other sectors have cooled down. Biden has tried to punt the responsibility of high housing costs on corporate landlords, accusing them of "rent gouging," keeping consumer rents artificially high even as their own costs have come down.

Persons: Janet Yellen, Joe Biden, Donald Trump, hunkers, Camp David, Yellen, Biden, Adrianne, Pete Buttigieg Organizations: Camp, Housing, Urban, Adrianne Todman, Biden, White, Apartment Association, NAA Locations: Fairfax , Virginia, Minneapolis, Minnesota

☆ Amazon is secretly working on a ChatGPT killer
▼ + stars: | 2024-06-24 | by ( Eugene Kim | ) www.businessinsider.com time to read: +6 min

Read previewAmazon is working on an AI chatbot to compete directly with OpenAI's ChatGPT, Business Insider has learned. The secret internal project is code-named "Metis," likely in reference to the Greek goddess of wisdom. Metis is powered by an internal Amazon AI model called Olympus, another name inspired by Greek mythology. There are a lot of AI assistantsWith Metis, Amazon is joining an already crowded AI-assistant market. Vishal Sharma, the vice president of artificial general intelligence, has direct oversight of Project Metis, one of the people said.

Persons: —, OpenAI's, It's, OpenAI, Andy Jassy, Jassy, Amazon's, Rohit Prasad, Vishal Sharma, it's Organizations: Service, BI, Business, Metis, Microsoft, Google, Amazon, Project Metis, Alexa Locations: Metis, Amazon's

☆ Finally, an answer to a mystery surrounding these 1,000-year-old trees
▼ + stars: | 2024-06-24 | by ( Tom Page | ) edition.cnn.com time to read: +6 min

A team of international academics successfully sequenced the genomes of each of the eight baobab species, examining their relationship with one another and concluded that they originated in Madagascar. "Avenue of the Baobabs" in Western Madagascar is one of the most spectacular collections of the unusual trees. Gavinevans/Creative CommonsOnly one baobab species is not included in the IUCN’s Red List of Threatened Species: A. digitata, which populates mainland Africa. The likelihood of finding fossil evidence to rubberstamp the conclusions of the genetic data is slim, Dr. Wan conceded. So perhaps these majestic trees may retain some of their mystery after all.

Persons: ”, Wan Jun, Nan, Wan, Seheno, Andriantsaralaza, “, Dr, Organizations: CNN, Biologists, Gardens, Royal Botanic Gardens, University of Antananarivo, Queen Mary University of London, IUCN, USAID Locations: Madagascar, Africa, Australia, Wuhan, Hubei, China, baobabs, Queen, Western Madagascar, “

☆ Amazon is working on an AI assistant that competes with ChatGPT, codenamed 'Metis'
▼ + stars: | 2024-06-24 | by ( Eugene Kim | ) www.businessinsider.com time to read: +6 min

Read previewAmazon is working on an AI chatbot that competes directly with the OpenAI's ChatGPT, Business Insider has learned. The secret internal project is codenamed "Metis," likely in reference to the Greek goddess of wisdom. Metis is powered by an internal Amazon AI model called Olympus, another name inspired by Greek mythology. There are a lot of AI assistantsWith Metis, Amazon is joining an already crowded AI assistant market. Last month, Amazon even instructed some employees to help scrape GitHub's open-source data to speed up its AI model training process.

Persons: —, It's, OpenAI, Andy Jassy, Jassy, Amazon's, Rohit Prasad, Vishal Sharma, it's Organizations: Service, BI, Business, Metis, Microsoft, Google, Amazon, Project Metis, Alexa Locations: Amazon's

☆ My internship at Bridgewater Associates felt like a 'Black Mirror' episode
▼ + stars: | 2024-06-23 | by ( Jane Zhang | ) www.businessinsider.com time to read: +11 min

The summer after my sophomore and junior years at Harvard University, I interned at Bridgewater Associates, the world's largest hedge fund. AdvertisementAnd while I definitely see parallels between my time at Bridgewater and that "Black Mirror" episode, I look back fondly on my time there. AdvertisementAuthenticity is a big thing at Bridgewater, so I went into the interview wanting to be completely myself. I worked on a lot of diversity initiatives, figuring out how to make Bridgewater more streamlined and accessible to employees. It helped shape who I am today, especially how I think about feedback, work, and the relationships I have at work.

Persons: Daria Rose, Ray, , I've, Ray Dalio, would've, She'd, Myers, —, we'd, I'd, It's, Dalio, it's, it'd, Ray Dalio isn't, We'd, Jane Zhang Organizations: Bridgewater Associates, Business, Harvard University, Bridgewater, Harvard, Briggs Locations: Ray Dalio's, Bridgewater, Westport , Connecticut, janezhang@businessinsider.com

☆ China has spent at least $230 billion to build its EV industry, new study finds
▼ + stars: | 2024-06-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Future Publishing | Future Publishing | Getty ImagesBEIJING — China spent $230.8 billion over more than a decade to develop its electric car industry, according to analysis published Thursday by the U.S.-based Center for Strategic and International Studies. Last month, the U.S. announced it was raising duties on imports of Chinese electric vehicles to 100%. There are some exceptions, but in general Western automakers and governments have dilly dallied and not been aggressive enough. But he also noted that the U.S. has not created conditions that are as attractive as China's for developing its own electric car industry. "There are some exceptions, but in general Western automakers and governments have dilly dallied and not been aggressive enough," he said.

Persons: Scott Kennedy, Kennedy, Tesla Organizations: Workers, SAIC, GM, Future Publishing, Getty, Strategic, International Studies, CSIS, U.S, Ministry of Finance, Bank of America, Western, EV Locations: Qingdao, Shandong, BEIJING, China, U.S

☆ AI and robotics are the keys that will drive Tesla to a $1 trillion valuation, Wedbush says
▼ + stars: | 2024-06-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Tesla investors reapproving Musk's pay package puts the company on back on track, Wedbush said. The firm reiterated its $275 price target and suggested Tesla was set to hit a $1 trillion valuation. The stock could see a rebound as soon as the second half of this year, the analysts predicted. AdvertisementTesla looks poised to unveil some of its key AI and robotics projects soon, such as its full self-driving software and its Model 2.5. Tesla stock is down 27% this year.

Persons: reapproving, Wedbush, Tesla, —, that's, Elon Organizations: Service, Wedbush Securities, Elon Musk's, Board, Teslas, EV Locations: China, 2H

Meanwhile, Jefferies increased its price target on Ingersoll Rand. Nagel also lifted his price target by $10 to $120, which now suggests shares have upside of 25.6%. Analyst Jason Bednar kept his overweight rating on the dental health stock while slashing his price target by $45 to $330. — Alex Harring 5:56 a.m.: Jefferies raises Ingersoll Rand price target The outlook for Ingersoll Rand is looking brighter after a recent acquisition, according to Jefferies. Analyst Stephen Volkmann reiterated his buy rating on the industrial stock and raised his price target to $110 from $105.

Persons: D.A, Davidson, Jefferies, Ingersoll Rand, Oppenheimer, bullish, Brian Nagel, Nagel, — Alex Harring, Piper Sandler, Jason Bednar, Bednar, Howard Ma, Ma, Evercore ISI's Amit Daryanani, Stephen Volkmann, Fred Imbert, Rudy Kessinger, Kessinger, Palo, PANW, Alex Harring Organizations: CNBC, Palo Alto Networks, Nike, Technology, 2Q, Guggenheim, workloads, Jefferies, ILC, Palo, Network Security, Cloud Security, Security Locations: ILC Dover, Palo Alto, Palo

☆ Amazon will stop using those little plastic pillows in its packaging
▼ + stars: | 2024-06-21 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Amazon is eliminating the use of the puffy plastic air pillows used in delivery boxes, joining other major companies that are cutting their plastic use. The company said it was shipping 15 billion plastic pillows annually, and the changes represent its largest plastic packaging reduction effort in North America. Amazon has already stopped using them in 95% of deliveries and they will stop completely by the end of the year. A new paper filler made from 100% recycled content will replace the plastic pillows. Amazon has stopped using plastic pillows in other countries, including Australia, India and nations across Europe, in recent years, which resulted the company in using nearly 12% less plastic in 2023 compared to the year prior.

Persons: ” Matt Littlejohn, Oceana’s Organizations: New, New York CNN, Strategic Locations: New York, North America, Australia, India, Europe, Oceana, America

☆ Here's our first-quarter earnings report card for 32 stocks in the portfolio
▼ + stars: | 2024-06-21 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

Most of the earnings reports — 25 out of 32 portfolio names — were ranked as good or great by the Investing Club. Similar to prior quarters, we grouped company results into one of four categories. Meta Platforms : Sales, earnings and cash flow results all topped expectations . However, sales and earnings both outpaced expectations, as did return on tangible common equity, a key consideration when valuing banks. The company also raised its outlook for full-year earnings growth to 25% year-over-year from 20%.

Persons: we're, Dover, Eli Lilly, Blackwell, Abbott, —, Wall, We'll, Morgan Stanley, Nikesh, Stanley Black, Wells, Estee Lauder, Fabrizio Freda, Jim Cramer's, Jim Cramer, Jim, Hock Tan, Broadcom Lucas Jackson Organizations: Investing, Apple, Services, Broadcom, VMware, Coterra, DuPont, Microsoft, Nvidia, Wynn Resorts, Super, Abbott Labs, Web Services, Constellation Brands, Constellation, Ford, Ford Pro, Wall Street, Alto Networks, Procter & Gamble, TJX, GE Healthcare, Honeywell, Linde, Jim Cramer's Charitable, CNBC Locations: Dover, China, Eaton, Las Vegas, China's Macao, billings, Wells Fargo, —

☆ Instagram and TikTok are chasing after 'close friends' as the social web goes private
▼ + stars: | 2024-06-20 | by ( Sydney Bradley | Dan Whateley | ) www.businessinsider.com time to read: +4 min

Read previewThere's a new app that promises to connect you with your closest friends — only this time, it's coming from TikTok. The app, dubbed Whee, pitches itself as a platform to "keep you connected with your close friends through life's spontaneous moments." Whee's arrival on the charts — it's 27th among social-networking apps in Apple's App Store, outranking Skype and Signal — comes as Instagram is also leaning into features for close friends. After spending years leaning into influencer content, to the chagrin of some users, the big social platforms are betting big on close friends. But as the platforms prioritized creator-made content, like on Instagram reels, everyday users' content seemed to take a back seat.

Persons: —, Snapchat, They're, Mervana Parekh, Nathan Sharp, influencers, Adam Mosseri, YouTubers Colin, Samir, Mosseri Organizations: Service, Android Police, Business, Skype, Acrew, Retro Locations: TikTok

☆ At Target, Store Workers Become A.I. Conduits
▼ + stars: | 2024-06-20 | by ( Jordyn Holman | More About Jordyn Holman | ) www.nytimes.com time to read: +1 min

Target is the latest retailer to put generative artificial intelligence tools in the hands of its workers, with the goal of improving the in-store experience for employees and shoppers. On Thursday, the retailer said it had built a chatbot, called Store Companion, that would appear as an app on a store worker’s hand-held device. The idea is to give workers “confidence to serve our guests,” Brett Craig, Target’s chief information officer, said in an interview. Target is testing the device in 400 stores and plans to make the app available to most workers across its nearly 2,000 locations by August. As the retail industry experiments with generative A.I., some see its potential to eventually make in-store shopping feel more like online shopping, said Roy Singh, the global head of Bain & Co’s advanced analytics practice who works with retailers on generative A.I.

Persons: ” Brett Craig, Target’s, Roy Singh Organizations: Bain & Co’s

☆ Software stocks are slumping. The reasons behind the downturn and the 4 best investments to make now, according to UBS and C-suite executives.
▼ + stars: | 2024-06-20 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Enterprise software customers are seeing their profits shrink from high interest rates and weakening consumer spending, which is reflected in cost-cutting initiatives such as shrinking software budgets. The best software stocks to buy in today's environmentAccording to UBS, the current software industry offers investment opportunities for cybersecurity and cloud infrastructure stocks. Cybersecurity is a promising growth area, with potential for rapidly increasing demand, UBS said. Demand for cloud infrastructure — the combination of hardware and software needed for cloud computing — is also increasing. Microsoft (MSFT) and Oracle (ORCL) are two cloud infrastructure providers whose respective products, Azure and Oracle Cloud Infrastructure, have performed well in 2024, in contrast to the lackluster returns of other software companies.

Persons: —, Salesforce, hasn't, Marc Benioff Organizations: Service, Business, UBS, Enterprise, Microsoft, Oracle, Oracle Cloud Infrastructure

☆ ‘Black Barbie: A Documentary’ takes a deeper look at a trailblazing doll
▼ + stars: | 2024-06-20 | by ( Kaila Nichols | ) edition.cnn.com time to read: +6 min

And so she did: “Black Barbie: A Documentary,” her newly-released project, takes a deeper look at the story behind Black Barbie and its impact on representation in the toy business, and culture more broadly. The first Black Barbie (pictured center) wore a bold red dress, gold jewelry and an afro. The actual Black Barbie doll didn’t become a reality until decades later, after the company hired Kitty Black Perkins in 1976 as its first Black designer. “Having Black Barbie (dolls) just reinforces the fact that being Black is fly and amazing — and that Black women are gorgeous. Black Barbie is also validation for us filmmakers, everybody who worked on it, being seen and heard in this industry,” she added.

Persons: Lagueria Davis, Beulah Mitchell, Davis —, —, Barbie, ” Davis, Black Barbie, Black, Shonda Rhimes, Misty Copeland, Ibtihaj Muhammad, Maxine Waters, Copeland, Muhammad, Mitchell, Ruth Handler, Patricia A, Turner, Handler, “, ” Mitchell, “ Christie ”, Julia ”, Christie, Julia, Diahann Carroll, Kitty Black Perkins, Black Barbie’s, Black Perkins, ” Black Perkins, Aaliyah Williams, ”, ’, White, Yolanda Hester, Shani, Stacey McBride, Irby, McBride, Kitty, Stacy, Williams Organizations: CNN, Mattel, SXSW, Black, Netflix, “ Locations: Mitchell’s

☆ 5 tips from Mark Zuckerberg on how to run a company and manage your team
▼ + stars: | 2024-06-19 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMark Zuckerberg has been at the helm of Facebook, now Meta, since he created it in his Harvard dorm room 20 years ago. Advertisement"I don't think you want a management structure that's just managers managing managers, managing managers, managing managers, managing the people who are doing the work," Zuckerberg said in an internal Q&A last year. Founders, don't delegateZuckerberg said one of his "most controversial" leadership tips for business leaders is to avoid delegating responsibility. It's an abbreviated version of what is perhaps Zuckerberg's best-known saying, "Move fast and break things," a mantra from Facebook's early days.

Persons: —, Mark Zuckerberg, he's, Zuckerberg, Jeff Bezos Organizations: Service, Facebook, Harvard, Business, Meta, Forbes

☆ An heiress asked a group of strangers how to give away her $27 million inheritance. They've now told her what to do.
▼ + stars: | 2024-06-19 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +1 min

Austrian heiress Marlene Engelhorn asked 50 strangers to help distribute $27 million in inheritance. The group proposed giving money to 77 charitable initiatives, including environmental and women's groups. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementEarlier this year a 32-year-old Austrian heiress asked a group of complete strangers to decide how best to distribute roughly $27 million of her inheritance. It should be awarded to 77 charitable initiatives over several years, the group said, including several women's shelter associations, children's charities, and climate crisis organizations.

Persons: Marlene Engelhorn, Engelhorn, — Organizations: Service, Good, Business

☆ AI skills can help you land a job or promotion faster—especially for Gen Z, says new research
▼ + stars: | 2024-06-18 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

AI skills could rival job experience in hiring decisions — and not just in techClose to 70% of leaders say they won't hire someone without AI skills and would rather hire a less experienced candidate with AI skills than a more experienced person without them, according to the report, which surveyed more than 30,000 people in 31 countries. Some companies including Google and Amazon have announced investments in teaching their workforce AI skills, but such initiatives aren't the norm: Only 25% of companies are planning to offer training on generative AI tools like ChatGPT and Microsoft Copilot, Microsoft and LinkedIn found. There are dozens of free online courses people can use to learn AI skills offered by companies like IBM and Google and Ivy League institutions like Harvard University and the University of Pennsylvania. "Less than two years after generative AI burst onto the scene, we're seeing this technology being woven into the fabric of work across a wide range of industries," Stallbaumer says. Generative AI tools in particular have seen a surge in workplace adoption, with usage doubling in the last six months, Microsoft and LinkedIn report.

Persons: Raman, it's, Colette Stallbaumer, Stallbaumer, It's Organizations: —, Microsoft, LinkedIn, CNBC, Google, IBM, Ivy League, Harvard University, University of Pennsylvania

☆ US announces major bust as efforts to crack down on Chinese money launderers working with drug cartels ratchet up
▼ + stars: | 2024-06-18 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +17 min

A US-based lawyer who has represented accused Chinese money launderers said the tempo of law enforcement operations against the alleged launderers has increased in recent weeks as federal agents close in on “bigger fish” among Chinese money launderers in the US. None of the federal law enforcement agencies involved in tracking Chinese money launderers agreed to be interviewed on the record. Grassley and Whitehouse have each introduced legislation they say is key to closing loopholes in US law that are actively exploited by the cartels’ money launderers. Elaborate networksRecent court documents illuminate how far-flung and elaborate US-based networks of alleged Chinese money launderers are. Mirror TransactionsExperts say the Chinese money launderers have mastered the art of so-called mirror transactions, which involve a series of deposits at multiple bank accounts to conceal the drug money.

Persons: ”, Anne Milgram, surveil, “, Don Im, Biden, HSI, Ricardo Mayoral, William Kimbell, ” Kimbell, launderers, —, Sen, Sheldon Whitehouse, ” Whitehouse, Treasury Department —, Whitehouse, Christopher Wray, Joe Biden, Xi Jinping, Republican Sen, Charles Grassley, Enhua Fang, Li Pei Tan, Tan, Joe Habachy, Matthew Rothbeind, Fang, Chaojie Chen, Chen, Greg Hunter, ” David Luckey, JPMorgan Chase Organizations: CNN, Drug, Administration, Sinaloa Cartel, US Court, Central, Central District of, DEA, IRS, “, Centers for Disease Control, Federal, Homeland Security, Treasury, Treasury Department, Treasury’s, Network, Homeland Security Investigations, DHS, Financial Crimes, Rhode Island Democrat, intel, Department of Homeland Security, FBI, Senate, ” CNN, White, Office of National Drug Control, Service, Biden, Republican, Grassley, Rand Corporation, of, JPMorgan Chase, Bank of America, JPMorgan, Organization Locations: California, Mexican, China, Mexico, Los Angeles, Sinaloa, Central District, Central District of California, Colombia, America, Oregon, Virginia, South Carolina, Washington, DC, North, Central America, —, Iowa, North Carolina, Belize, Chinese, Georgia, Chicago, Tulsa, East Coast, Detroit , Chicago, Ohio, Western, of North Carolina, Wells Fargo

☆ Amazon hit with $5.9 million fine for violating California labor law
▼ + stars: | 2024-06-18 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

California's labor regulator on Tuesday said it fined Amazon nearly $6 million for violating a state law aimed at curtailing the use of onerous warehouse productivity quotas. The California Labor Commissioner's Office said it investigated two Amazon facilities in Moreno Valley and Redlands, both located east of Los Angeles, and found 59,017 violations of the state's Warehouse Quotas law, officials said. The Warehouse Quotas law went into effect in 2022 and requires employers to disclose productivity quotas to employees and government agencies, as well as any discipline workers may face for not meeting them. The law also prohibits employers from requiring warehouse employees to meet unsafe quotas preventing them from taking state-mandated meal and rest breaks or using the bathroom. The Labor Department's Occupational Safety and Health Administration has also cited Amazon numerous times for safety violations.

Persons: Lilia Garcia, Brower, Sen, Ed Markey, It's, Maureen Lynch Vogel, they're Organizations: Amazon, California Labor Commissioner's Office, Labor, Occupational Safety, Health Administration Locations: California, Moreno Valley, Redlands, Los Angeles, Washington, New York, Minnesota, U.S

☆ Clooney and Roberts help Biden raise $30 million-plus at a star-studded Hollywood gala
▼ + stars: | 2024-06-16 | by ( ) www.cnbc.com time to read: +6 min

U.S. President Joe Biden and former U.S. President Barack Obama share a laugh during a star-studded campaign fundraiser at the Peacock Theater in Los Angeles, on June 15, 2024. The fundraiser included singing by Jack Black and Sheryl Lee Ralph, and actors Kathryn Hahn and Jason Bateman introduced Kimmel, who himself introduced Biden and Obama. The president was fundraising "with out-of-touch elitist Hollywood celebrities," Trump campaign spokeswoman Karoline Leavitt said. But Biden told the crowd in California that "we passed every major piece of legislation we attempted to get done." Earlier in the program, Kimmel noted Biden's campaign promise to restore the soul of America and said "lately it seems we might need an exorcism."

Persons: Joe Biden, Barack Obama, energizing, George Clooney, Julia Roberts, Barbra Streisand, Jimmy Kimmel, Biden, Donald Trump, Kimmel, Trump, Kamala Harris, Jack Black, Sheryl Lee Ralph, Kathryn Hahn, Jason Bateman, Obama, deadpanned, Bateman, Karoline Leavitt, Roe, Wade, Samuel Alito, Pope Francis, Stephen Colbert, Bill Clinton, John Paulson, Trump's Organizations: Peacock, Democratic, Republican, Batman, Biden, Trump, Supreme, Delta Force, Army, Radio City Music Hall, Biden's, Republican National Committee, Republican Party Locations: Los Angeles, Italy, Southern California, Switzerland, Ukraine, United States, Gaza, Detroit, California, America, New York, York, Florida

☆ Nelson Peltz’s Trian has a stake in Rentokil. Here’s how the activist might boost shareholder value
▼ + stars: | 2024-06-15 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Rentokil offers a complete range of pest control services, from rodents to flying and crawling insects, to other forms of wildlife management. Trian, managed by Nelson Peltz, takes very few positions, but is very active in its positions. Rentokil Initial is a United Kingdom-based global provider of pest control, hygiene and well-being services for residential, commercial and industrial customers. However, when it has engaged with UK companies, the firm has consistently been able to create shareholder value. Shifting the listing to the U.S. is the low-hanging fruit of value creation and potentially divesting the European business could create additional value.

Persons: It's, Trian, Nelson Peltz, Peltz, Rentokil, Janus Henderson, Ferguson, Ecolab, Rio, Pearson, Ken Squire Organizations: Rentokil's, Unilever, Ferguson, New York Stock Exchange, Rollins, Janus, 13D Locations: United Kingdom, North America, Europe, Saharan Africa, France, U.S, Pentair, London, Rio Tinto, New York

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