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☆ Boeing sales remain stalled
▼ + stars: | 2024-06-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Boeing reported another weak month for new plane orders as it struggles to overcome questions about safety and production problems with its commercial jets. The company reported it took orders for only four new jets in May, all for the 787 Dreamliner, and none for the troubled 737 Max. That was down from even the modest orders of seven gross orders in April, and far below the order of 69 jets it reported in May 2023. Orders for Boeing jets have fallen sharply, for the most part, from the strong sales it reported in 2023, including a monthly record for orders in December, due to airlines’ eagerness to expand their capacity to meet increased passenger travel demand. Shares of Boeing, a component of the Dow Jones industrial average, fell more than 3% on the report.

Persons: Max Organizations: New, New York CNN, Boeing, American Airlines, FAA, Alaska Airlines, Dow Locations: New York

☆ Nathan’s hot dog eating champ Joey Chestnut out over vegan sponsorship
▼ + stars: | 2024-06-11 | by ( Erika Tulfo | ) edition.cnn.com time to read: +1 min

New York CNN —Dynastic hot dog eating champion Joey Chestnut will not compete in this year’s Nathan’s hot dog eating contest after he struck a deal with plant-based food company Impossible Foods. “We are devastated to learn that Joey Chestnut has chosen to represent a rival brand that sells plant-based hot dogs rather than competing in the 2024 Nathan’s Famous Fourth of July Hot Dog Eating Contest,” the Major League Eating organization, which oversees the event, said in a statement. The organization said that to come back Chestnut must renounce deals with brands that rival Nathan’s. We would love nothing more than to have him at Nathan’s Famous International Hot Dog Eating Contest, which he has dominated for years. Joey Chestnut, Nathan’s and its parent company, Smithfield Foods, did not reply to requests for comment.

Persons: Joey Chestnut, Chestnut Organizations: New, New York CNN, Impossible Foods, League Eating, Labor, Smithfield Foods Locations: New York, American

☆ The Fed is winning its battle against inflation. So why isn’t it cutting rates?
▼ + stars: | 2024-06-11 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

That’s why it is crucial for central bankers to insist on 2%. “By communicating an explicit inflation target — and then delivering inflation consistent with that target — central banks earn credibility with the public,” New York Fed President John Williams said in a recent speech. Stripping away highly volatile categories such as food and energy — a measure referred to as “core” inflation — won’t quell central bankers’ concerns. The Fed can’t ignore CPIAlthough CPI isn’t the inflation gauge the Fed targets, central bankers don’t write it off. It was, however, welcome news to Fed officials that Consumer Price Index-measured inflation fell to 3.4% in April from 3.5% in March.

Persons: Frank Robinson, “, they’re, Jerome Powell, ” Powell, Ben Bernanke, they’ll, John Williams, hasn’t, ”, Tom Barkin, don’t, Christopher Waller Organizations: New, New York CNN —, Federal, Fed, New York Fed, ” New York Fed, ” Richmond Fed, CPI Locations: New York

☆ Starbucks joins the value menu wars with a new discounted offer
▼ + stars: | 2024-06-11 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Starbucks is the latest entrant in the value menu wars, joining its rivals in releasing new offers to lure back cash-strapped consumers. The offer, available all day, comes in two options: For $5, a customer can order a tall iced or hot coffee or an iced or hot tea paired with a croissant. For Starbucks, it’s part of broader changes rolling out this summer, which include a new iced coffee blend, updated its app with more accurate ordering times and new promotions. Starbucks is also making tweaks to its two-year-old partnership with Delta Air Lines’ SkyMiles program, which lets customers earn miles on every transaction. Beginning Wednesday, customers will only earn miles on Starbucks account reloads of $25 or more rather than per dollar spent at its cafes.

Persons: There’s, ” David Henkes, Laxman Narasimhan, ” Henkes, Danielle Wiener, Bronner Organizations: New, New York CNN, Starbucks, CNN, Delta Air Locations: New York, Technomic

☆ More than 15,000 Amazon contract drivers file legal claims asking for compensation for overtime and unpaid wages
▼ + stars: | 2024-06-11 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —More than 15,000 Amazon contract drivers filed arbitration claims against the e-commerce giant on Tuesday, alleging Amazon classified them as independent contractors instead of employees with minimum wage and overtime rights. Amazon Flex, launched in 2015, allows independent contractors to sign up to deliver Amazon packages. Flex drivers provide Amazon Fresh grocery deliveries or same-day deliveries from the company’s warehouse hubs. Since the drivers are classified as independent contractors, these claims ask for compensation for unpaid wages and overtime, and reimbursement for expenses such as mileage and cell phone usage. Tindall told CNN that the workers filed independent arbitration claims instead of a class action lawsuit because drivers have to sign an agreement that forbids class action.

Persons: misclassification, Steven Tindall, Tindall, Joseph Sellers, “, Sellers, we’re, ” Tindall, CNN’s Samantha Delouya Organizations: New, New York CNN, Amazon, Flex, American Arbitration Association, Drivers, CNN Locations: New York, California , Massachusetts, Illinois

☆ Wall Street’s facing an economic double-whammy this week
▼ + stars: | 2024-06-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

Despite the rare event, it’s unlikely the stock market will swing widely because of the economic two-fer, some investors say. Inflation showed signs of cooling in April after staying worryingly warm during the first quarter of this year. America’s rural hospitals keep getting attacked by cybercriminals. Microsoft said in a statement to CNN that it would provide free security updates for eligible rural hospitals, as well as security assessments and training for hospital staff. Google will provide free cybersecurity advice to rural hospitals and start a pilot program to match the firm’s cybersecurity services with the needs of rural hospitals.

Persons: Powell, ”, Dave Sekera, Alicia Wallace, Sean Lyngaas, Michelle Watson Organizations: CNN Business, Bell, New York CNN, Federal Reserve, CPI, Bank of America, Morningstar, Investors, Traders, Fed, UBS, Federal Reserve Bank of New, The, Consumer, cybercriminals, Microsoft, Google, White, CNN, White House National Security Council Locations: New York, pare, Federal Reserve Bank of New York, York, United States

☆ Rachel Maddow Q&A: MSNBC star dishes on the rise of authoritarianism and her worries about becoming a Trump target
▼ + stars: | 2024-06-11 | by ( Oliver Darcy | ) edition.cnn.com time to read: +12 min

What important lesson can we learn from history to help us in this moment? Seeing that in our past should help us expect that and hopefully brace ourselves against it in our own time. You take things case by case, situation by situation, lie by lie. Do you think the news media — as a whole — is adequately covering Trump? I think Americans broadly know that’s happening, but also that they may not necessarily know what to do about it.

Persons: Rachel Maddow, Mary, ” —, Maddow, Donald Trump’s, Isaac, Davy Aronson, Donald Trump, DOJ hasn’t, Kathryn Olmsted’s, Hitler, Charles Coughlin —, there’s, Robert Paxton’s “, ”, Il Mondo, Il, Fox, Rupert Murdoch’s, Trump, he’s, He’s, we’ve, Mike Pence, I’m, it’s, Jay Rosen, “ Organizations: New York CNN, MSNBC, Monday, Electoral College, Republican Party, DOJ, Six, New York Times, TIME, Police, Trump, CNN, Fox News Locations: New York, America, United States, Rome, ”

☆ The hidden costs of owning a home are surging for Americans
▼ + stars: | 2024-06-11 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

“My homeowners insurance doubled, with no notice – nothing,” said Jennifer Schauer, who bought her home in Novato, California, in 2021. The US homeowners insurance industry lost $101.3 billion last year as severe storms, hurricanes and wildfire did significant damage. Schauer isn’t alone among Californians grappling with high hidden costs of homeownership. By contrast, Kentucky ($11,559), Arkansas ($11,692) and Mississippi ($11,881) had the lowest hidden costs of homeownership, according to Bankrate. Since Covid, the hidden cost of homeownership has climbed most rapidly in three states: Utah (44%), Idaho (39%) and Hawaii (38%).

Persons: we’re, That’s, Bankrate, Jeff Ostrowski, ”, Jennifer Schauer, Schauer, wasn’t, “, Schauer isn’t, it’s, you’ll, ” Ostrowski Organizations: New, New York CNN, CNN, P Global, Federal Reserve Locations: New York, Novato , California, California, Hawaii, Massachusetts, New Jersey, Connecticut, Kentucky, Arkansas, Mississippi, Utah, Idaho

☆ UAW President Shawn Fain under investigation by federal monitor
▼ + stars: | 2024-06-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —Shawn Fain, who led the United Auto Workers union in its strike against all three unionized American automakers last fall, is under investigation by a federal monitor overseeing the union. It dredges up past union corruption issues that sent previous union officials to prison, an issue that helped Fain win a narrow upset victory to lead the union last year. Fain was a guest of President Joe Biden at the State of the Union speech, where Biden recognized and praised him. Biden also joined Fain on the picket line during last year’s auto strike, the first sitting president to visit a picket line. Fain, a former critic of both former President Donald Trump and the Biden administration, has become a vocal supporter of Biden, who has been endorsed by the UAW.

Persons: Shawn Fain, Fain, Margaret Mock, “, Neil Barofsky, Rich Boyer, Boyer, Barofsky, Mock, ” Barofsky, ”, We’re, Stellantis, Joe Biden, Biden, Donald Trump Organizations: New, New York CNN, United Auto Workers, UAW, Volkswagen, Stellantis, TARP, General Motors, Ford, State Locations: New York, Tennessee, Mercedes, Alabama

☆ Elizabeth Holmes, Silicon Valley’s most famous convict, makes her long-shot appeal
▼ + stars: | 2024-06-11 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Holmes was sentenced to 11 years in prison for defrauding investors in her failed blood-testing company, Theranos. She is seeking a new trial, arguing that the judge in her case erred in several decisions during the 2022 proceedings. Since her conviction, her projected release date from prison has been moved up, shaving about two years off her sentence. Theranos’ unraveling, and Holmes herself, became the subject of a bestselling book, a Hulu scripted series and an award-winning documentary. Holmes knowingly concealed the technology’s problems, and still pushed to get the company’s Edison devices into pharmacies, prosecutors argued.

Persons: Elizabeth Holmes, Holmes, Stanford, Steve Jobs, Larry Ellison, Rupert Murdoch, Ramesh “ Sunny ”, “ Holmes, Balwani, Holmes ’, Theranos, “, Edward Davila, Balwani “, laywers, ”, Agustin Orozco, Crowell, Orozco Organizations: New, New York CNN, California’s, Circuit, Wall Street, Prosecutors, Moring Locations: New York, California, Texas

☆ Class action suit alleges Raytheon discriminates against older job seekers
▼ + stars: | 2024-06-11 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +4 min

New York CNN —A class action lawsuit filed Tuesday alleges that RTX Corporation, the multinational aerospace and defense systems giant formerly known as Raytheon Technologies, has been discriminating against job seekers who are 40 years or older. The ads that refer to “Recent Graduate Positions” indicate that applicants should either have graduated from college or graduate school very recently or have no more than 12 or 24 months of related work experience. While the positions may be lower level, they are not necessarily low paying, with salary ranges that can run north of $100,000. We believe these claims are entirely without merit and we will actively defend our hiring practices,” company spokesman Chris Johnson told CNN. Between 2019 and 2023, Goldstein applied to at least seven of Raytheon’s recent graduate positions for which he met all the qualifications save those requiring the newness of his degrees or the short duration of work experience.

Persons: RTX, “ RTX, we’re, Chris Johnson, — Mark H, Goldstein, Peter Romer, Friedman, ‘ EEOC, Romer Organizations: New, New York CNN, RTX Corporation, Raytheon Technologies, AARP Foundation, Court, District of, Raytheon, Virginia Human, CNN, US Department of Homeland Security, Commission Locations: New York, District of Massachusetts, Massachusetts, Virginia

☆ TNT’s NBA future is up in the air. But it now has tennis
▼ + stars: | 2024-06-11 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Although the future of the NBA on TNT remains uncertain, the cable network will at least have tennis. Under the “new expansive deal,” all roughly 900 matches will air live on the streaming platform Max, with featured matches on TNT and TBS and a new whip-around show on truTV. WBD already has an existing relationship with Roland-Garros since it began broadcasting the tennis tournament across Europe on Eurosport since 1989. The Tennis Channel stepped in to air more matches in 2006, splitting the rights with NBC. Tennis has seen its popularity and ratings grow in the past few years, which could help WBD’s sport portfolio.

Persons: “ Roland, Garros, ”, Luis Silberwasser, WBD, Roland Organizations: New, New York CNN, NBA, TNT, Warner Bros, French, TBS, Variety, TNT Sports, CNN, Eurosport, Roland, Garros, NBC, Tennis, NHL, MLB, Amazon, Wall Street, ESPN Locations: New York, Europe, Paris

☆ Collectible toy market: This vintage action figure set a record at auction
▼ + stars: | 2024-06-10 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +11 min

The Rocket-Firing Boba Fett action figure, modeled after the “Star Wars” bounty hunter, was purchased in Dallas by an anonymous buyer for $525,000, Heritage Auctions announced last Monday. Dolls are for girls, action figures are for boysUnlike fine art or sports memorabilia, the collectible action figure market is only a handful of decades old because action figures have only been around since the mid-1960s. “The first action figure was G.I. He recounted how Hasbro executive Don Levine coined the term “action figure” as a marketing tool, because “we can’t call these dolls. Caravoulias recalls laying in bed as a kid in 1985 and wishing he could buy a $5 Rambo II action figure.

Persons: Boba, Barbie, ”, Justin Caravoulias, Joe, Boba Fett, Fett, Kenner, Brian Rachfal, “, Don Levine, ’, “ Nobody, Caravoulias, Price, Tom Derby, Darth Vader, It’s, Rambo, Rachfal, —, Paul Arnold, Arnold, Gary C, Knapp, they’re, ” Caravoulias, Circana, ” “ Barbie, ” James Zahn Organizations: New, New York CNN, “, Heritage Auctions, Heritage, Kenner, Hasbro, CNN, Derby, ‘ Power Rangers Locations: New York, United States, Dallas, American, Virginia Beach, Va

☆ The WNBA just had its most-watched games ever
▼ + stars: | 2024-06-10 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

The league also said Monday it had its most-watched start of the season games ever across all six networks that broadcast matches — ABC, ESPN, ESPN2, CBS, ION and NBA TV. Women’s basketball is experiencing a boom thanks to the phenomenon around WNBA rookie Clark. Since then, her entry to the WNBA, along with other players like Reese, has kicked off a new era in the league. Tick Pick, an online ticketing site, reported a 435% increase year over year in total tickets sold for WNBA games in May, with the average price of the tickets increasing 60%. Indiana Fever had a whopping 4,493% increase in May tickets sold.

Persons: Caitlin Clark, Angel Reese, Clark, Reese, we’ve, ”, Edison, Los Angeles Sparks’s Cameron Brink, Kate Martin, Tick Pick Organizations: New, New York CNN, WNBA, ABC, ESPN, ESPN2, CBS, ION, NBA, NCAA, Iowa Hawkeyes, South Carolina Gamecocks, Indiana Fever, Chicago Sky, Las Vegas Aces Locations: New York, alma, Los Angeles

☆ Americans tired of sky-high borrowing costs will be disappointed this week
▼ + stars: | 2024-06-10 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Another month, another hot jobs report that has Wall Street wondering when the Federal Reserve will finally cut interest rates. On the other, it puts long-awaited interest rate cuts from the Federal Reserve on the back burner. Before the Bell: Do you think the Fed could lower its projection for three quarter-point rate cuts this year? Is it concerning that the European Central Bank and Bank of Canada have begun cutting rates before the Fed? A Samsung spokesperson told CNN that, “there is no impact on production and management activities” as a result of the one-day walkout.

Persons: Bell, Nate Thooft, I’m, that’s, Yoonjung Seo, —, Son Woomok, Matt Egan, Lina Khan, Beam, Robinson Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Manulife Investment Management, Reserve, European Central Bank, Bank of Canada, European Central Bank and Bank of Canada, Workers, Samsung Electronics, Nationwide Samsung Electronics Union, CNN, Reuters, Samsung, SK Hynix, Micron Technology, Federal Trade Commission, Southern, Biden, FTC, Politico Locations: New York, South Korea, Miami, United States

☆ Activist investor takes $1.9 billion stake in Southwest Airlines, calls for leadership changes
▼ + stars: | 2024-06-10 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Elliott Investment Management announced Monday it has taken a $1.9 billion stake in Southwest Airlines and said there needs to be new leadership at the Dallas-based carrier. Southwest (LUV) stock gained more than 6% in trading Monday on the news of Elliott’s letter to the Southwest Board. Ellioitt’s letter made no mention of a desire to change Southwest from an all-737 fleet, which would increase the cost of pilot training and spare parts. Its letter does not give details about the changes it wants to see, other than a change in leadership at the airline. CEO Bob Jordan told investors last month that the airline is “seriously studying” a possible change to that policy.

Persons: ”, Elliott, Bob Jordan Organizations: New, New York CNN, Elliott Investment Management, Southwest Airlines, Dallas, Southwest Board, Boeing, Department of Transportation, Texas, Johnson Controls Locations: New York, ” Florida, Softbank

☆ Apple needs to make the iPhone cool again. Tomorrow is its chance
▼ + stars: | 2024-06-09 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

And no product is more important to Apple than the iPhone. New AI features that provide a compelling reason to upgrade when Apple rolls out the iPhone 16 in the fall could boost the company at a crucial time. Here’s the thing: No matter how Monday goes, Apple isn’t losing its status as a tech powerhouse anytime soon. The latter scenario — assuming the features are compelling — could spur the next major iPhone upgrade cycle and have ripple effects for the entire company. “That’s the key: if it’s compelling and not backward-compatible, Apple will have the first upgrade cycle in four years,” Luria said.

Persons: they’ve, Apple isn’t, D.A, Davidson, Gil Luria, Gadjo Sevilla, “, Siri, Luria, ” Luria Organizations: New, New York CNN, Apple, CNN, ”, Nvidia, Microsoft, eMarketer, iOS, Samsung Locations: New York, China, WWDC

☆ Stellantis recalls vehicles over stability control issues
▼ + stars: | 2024-06-09 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +1 min

New York CNN —Car manufacturer Stellantis is recalling 211,581 SUVs and pickup trucks over a software malfunction that could cause their electronic stability control systems to fail. The company said the issue stems from a defective anti-lock breaking system, which in turn deactivates the stability control system. Using a vehicle with a disabled stability system could increase the likelihood of a crash, the National Highway Traffic Safety Administration said Thursday. Multiple studies have found electronic stability control systems tend to reduce fatal collisions, particularly single-vehicle and rollover crashes. The company said customers will be able to bring their cars in to the dealers to update their vehicle’s anti-lock braking systems for free.

Persons: Stellantis Organizations: New, New York CNN —, Traffic Safety Administration Locations: New York, Durango

☆ Tesla shareholders to vote whether Elon Musk deserves billions judge struck down
▼ + stars: | 2024-06-09 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

New York CNN —Tesla’s controversial CEO Elon Musk, and his massive wealth, are front and center in a shareholder vote this coming week. Now, Musk and the board want Tesla shareholders not only to vote again to give him back those stock options, but to relocate Tesla away from the judge’s state entirely. Despite the widespread support among shareholders back in 2018 for Musk’s pay package, the Tesla board seems to be scrambling to shore-up support for this month’s vote. But perhaps a more serious concern among Tesla shareholders is problems faced by the electric car pioneer itself. “When Tesla achieved targeted earnings, revenues, and market cap metrics, Tesla’s shareholders benefitted greatly.

Persons: New York CNN —, Elon Musk, Tesla, Chancellor Kathaleen McCormick, ” McCormick, “ Musk, McCormick, ” Tesla, Robyn Denholm, Elon, ” Rather, ”, ” Denholm, “, he’s, Dan Ives, it’s, they’re, Ives, Neuralink, Musk, ” Ives, Ron Baron, Baron Capital, ” Baron, Glass Lewis Organizations: New, New York CNN, SEC, Musk, Elon, Twitter, Wedbush Securities, SpaceX, The Boring Company, Baron, Institutional, Services Locations: New York, Delaware, Texas, Tesla’s Texas, “

☆ Is a recession coming? Economists say look at women’s lips
▼ + stars: | 2024-06-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Estee Lauder chairman Leonard Lauder created the lipstick index during the economic downturn following September 11, 2001. In fall 2001, US lipstick sales increased by 11%. “The lipstick index has been substituted with the moisturizing index,” said Freda. But data shows that more expensive prestige beauty sales are outpacing mass, lower-priced beauty sales. What do you see dominating the beauty market in the second half of the year?

Persons: Estee Lauder, Leonard Lauder, Fabrizio Freda, ”, Freda, “, Sephora, Bell, Neela Montgomery, Laura Mercier, We’ve, it’s, Skincare, It’s, we’re, Inflection’s, OpenAI, Sarah Myers West, ” West, Brian Fung, Jerome Powell, Price Organizations: CNN Business, Bell, New York CNN, CNN, Federal Trade Commission, Microsoft, FTC, Justice Department, Google, Nvidia, DOJ, US Department of Treasury, OPEC Monthly, Federal Reserve, US Bureau of Labor Statistics, Signet Jewelers, Federal Locations: New York, Asia

☆ The forgotten racial history of Red Lobster
▼ + stars: | 2024-06-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

“Red Lobster cultivated Black customers. Red Lobster did not respond to CNN’s request for comment on current customer demographics. Red Lobster was not a “place we frequented a whole lot” in its early days, said Harold Dwight, who graduated two years after Boatwright in 1968. Red Lobster later named one of its signature dishes after King: “Walt’s Favorite Shrimp.” King died last year. Red Lobster brought the “outdoor fried fish experience” indoors, Autry said.

Persons: Clarence Otis Jr, Otis, Mardeio Cannon, ” Clarence Otis Jr, Phelan M, Red, Chris Rock, Nicki Minaj, Minaj, “, Jimmy Fallon, Beyoncé, Hurricane, Marcia Chatelain, ”, Bill Darden, Darden, Beverly Boatwright, Harold Dwight, Dwight, Darden’s, Waycross , Georgia —, ” “, Jim Crow ”, John Fluker, Horace Thomas, Walter King, ” King, “ They’ve, we’ve, Michael Nagle, Robyn Autry, Autry Organizations: New, New York CNN, Red Lobster, Darden, CNN, Sacramento Observer, Darden Restaurants, University of Pennsylvania, Civil, Lakeland, NAACP, Bloomberg, Getty, Wesleyan University Locations: New York, America, Black America, McDonald’s, Lakeland , Florida, Lakeland, Waycross , Georgia, Okefenokee, Waycross, Georgia

☆ Wall Street is putting its foot down as ‘Roaring Kitty’ sends GameStop soaring again
▼ + stars: | 2024-06-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +9 min

That means that Gill has the right to purchase 12 million shares of GameStop at $20 apiece by a set expiration date. GameStop shares closed Wednesday at $46.55 a share, more than double the price locked in by those options. Gill hasn’t explicitly told anyone to buy GameStop shares or that he thinks it’s headed to the moon. In comparison, shares of GameStop and AMC Entertainment have surged 167% and 99%, respectively, since Gill’s return to social media. Keith Gill, a GameStop investor, also known in social media forums as Roaring Kitty, testifies during a virtual hearing on GameStop in Washington, Feb. 18, 2021.

Persons: Kitty, Keith Gill, Gill, Michael M, Gill hasn’t, it’s, Jay Woods, Woods, hasn’t, Morgan Stanley, Gill isn’t, copycats, Warren Buffett, Berkshire Hathaway, Buffett, Chubb, ”, Bill Galvin, Gill’s, Hanna Ziady, Christine Lagarde —, ” —, Read, OpenAI, Brian Fung, Inflection’s, didn’t, Keith Gill’s Organizations: CNN Business, Bell, New York CNN, GameStop, AMC Entertainment, CNN, Gamestop, New York Stock Exchange, Street, Freedom Capital, Berkshire, The Securities, Exchange Commission, SEC, Financial, Traders, stoke, Wall, Retail, Roaring Kitty YouTube, European Central Bank, US Federal Reserve, Bank of England, ECB, Federal Trade Commission, FTC, Justice Department, Microsoft, Google, Nvidia, of Justice Locations: New York, New York City, Massachusetts, Washington, Europe

☆ Washington is waking up to AI’s risks about three years too late
▼ + stars: | 2024-06-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

(Which is ironic, given that one of the priorities of the roadmap is making sure AI doesn’t, like, hijack the American electoral process.) All of that money was able flood in because the notoriously tech-challenged lawmakers in Washington have been largely asleep at the wheel. (European officials, meanwhile, formally adopted the world’s first standalone AI law this spring, a full five years after rules were proposed.) Until recently, AI was a largely academic subject rarely discussed outside of Silicon Valley. ”AI companies have strong financial incentives to avoid effective oversight,” they wrote in an open letter this week.

Persons: CNN Business ’, hasn’t, ”, OpenAI, Brian Fung Organizations: CNN Business, New York CNN, Federal Trade Commission, Justice Department, Big Tech, Antitrust, FTC, Microsoft, Google, Nvidia, Apple Locations: New York, United States, Washington, Silicon Valley

☆ Today is Melinda French Gates’ last day at the Gates Foundation. Here’s what she told her staff
▼ + stars: | 2024-06-07 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Friday marks the last day of Melinda French Gates’ more than two-decade run as the co-chair of the Bill & Melinda Gates Foundation she ran with her ex-husband. Bill Gates and French Gates announced their divorce in May 2021. As part of her separation agreement from former husband Bill, French Gates said she will receive an additional $12.5 billion for her charitable work. French Gates said she will donate $1 billion through 2026 to advance women’s rights around the world through her organization, Pivotal Ventures. That will include $200 million in grants to organizations that are fighting for women’s reproductive rights.

Persons: Melinda French Gates, Melinda Gates, “, ”, French Gates, Bill Gates, Gates, Bill, Dobbs, ” – CNN’s David Goldman Organizations: New, New York CNN, Melinda Gates Foundation, New York Times Locations: New York

☆ Morale plummets inside The Washington Post as staffers express alarm over publisher’s attempts to squash story
▼ + stars: | 2024-06-07 | by ( Oliver Darcy | ) edition.cnn.com time to read: +7 min

New York CNN —Will Lewis is quickly losing the confidence of his newsroom. At The Post, according to more than a half-dozen staffers who spoke with CNN Thursday, morale has fallen off a cliff since Lewis abruptly ousted Executive Editor Sally Buzbee on Sunday. Lewis’ uncouth dispatching of Buzbee poisoned much of the goodwill he had earned with his employees over the preceding six months. Indeed, the day after he announced Buzbee’s exit, staffers pressed him in a town hall about the circumstances that led to her departure. Will Lewis, the publisher of The Washington Post, finds himself embroiled in a scandal affecting the newsroom itself.

Persons: Will Lewis, —, Lewis, Sally Buzbee, “ It’s, Lewis ’, Buzbee, Matt Murray, Robert Winnett, Rupert Murdoch’s, Prince Harry, Carlotta Cardana, David Folkenlik, Lewis “, heatedly —, Folkenflik, ” Folkenflik, Puck’s Dylan Byers, Byers, Sarah Ellison, Elahe Izadi, ” Lewis, “, Ellison, Izadi, Jeff Bezos, “ He’s, ”, don’t Organizations: New York CNN, The Washington Post, CNN, Wall Street, Fleet Street, News Corporation, The New York Times, Bloomberg, Getty, NPR, “, Columbia Journalism School Locations: New York, —, Washington

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