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☆ Why an off-duty pilot who is accused of trying to turn a plane's engines off mid-flight was allowed to sit in the cockpit
▼ + stars: | 2023-10-25 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +8 min

An off-duty pilot was charged with trying to turn off a plane's engines while riding in the cockpit. The pilot was sitting in the "jump seat" which gave him easy access to the cockpit's operations. The 'jump seat'Emerson was riding in the plane's cockpit "jump seat" when he began acting strangely, according to federal court documents. "As far as we know, this pilot was perfectly legal and perfectly certified to be riding in the jump seat," Brickhouse said of Emerson. According to a probable cause statement, Emerson told police he had taken the psychedelic mushrooms about 48 hours before he tried to stop the engines.

Persons: —, Joseph Emerson, Emerson, Anthony Brickhouse, Brickhouse, LM Otero, Emerson's, Robert Nickelsberg, Ross Aimer Organizations: Service, Alaska Airlines, Horizon Air, Embry Riddle Aeronautical University, Emerson, Associated Press, AP, Airlines, Aviation Administration, FAA, New York Times, Air Lines, St Paul International Airport, Multnomah County Circuit, Industry Locations: Everett , Washington, San Francisco , California, Dallas Fort Worth, Grapevine , Texas, Emerson's, Minneapolis, Minneapolis , Minnesota, Multnomah County

☆ Cavendish bananas face extinction and not all experts agree on how to save it
▼ + stars: | 2023-10-22 | by ( Rupendra Brahambhatt | ) www.businessinsider.com time to read: +8 min

Cavendish, the most commonly available banana variety, is facing the risk of extinction. A fungal disease threatens to wipe Cavendish bananas off the face of the Earth. Why Cavendish bananas dominate the global marketThere are over 1,000 varieties of bananas, but about 47% that humans eat are Cavendish bananas (Musa acuminata). Fajri Ramadhan / 500px / Getty ImagesPanama disease is a serial banana killerWhat's happening to Cavendish bananas has happened before to another popular banana variety called Gros Michel. How scientists are trying to save the CavendishSome plant pathologists don't believe that the Cavendish banana will meet the same fate as Gros Michel.

Persons: Cavendish, —, Dan Koeppel, Fajri, Gros, Gros Michel, James Dale, Robert Nickelsberg, Dale, Koeppel, COZZI, Price Organizations: Service, Queensland University of Technology, TR4, Gros, University of Cambridge, Taiwan Banana Research Institute, Apple, Cavendish Locations: Cavendish, Musa, Panama, Darwin, Australia, Queensland, India, China, East, Africa, South America, QCAV, freezers

☆ Janet Yellen sees limited economic impact from war in Israel
▼ + stars: | 2023-10-11 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —The war between Israel and Hamas is unlikely to have a significant impact on the global economy, US Treasury Secretary Janet Yellen said Wednesday. Global oil prices had surged earlier in the week on fears that the war could cause wider instability in the oil-producing Middle East. But Yellen said Wednesday that the United States had not “in any way” relaxed sanctions on oil exports from Iran. But it cautioned in its latest World Economic Outlook report — finalized before the conflict erupted — that economic growth remained weak and patchy. The IMF shaved its forecast for global growth in 2024 by 0.1 percentage point to 2.9%.

Persons: Janet Yellen, I’m, ”, Yellen, Pierre, Olivier Gourinchas, —, — Robert North Organizations: London CNN, International Monetary Fund, Bank, Stock, Global, Chevron, IMF Locations: Israel, Morocco, Iran, China, Washington, United States, Saudi Arabia, Russia, Egypt, Jordan, Europe

☆ Why countries are choosing to build new cities in places at high risk of worsening floods
▼ + stars: | 2023-10-04 | by ( Laura Paddison | ) edition.cnn.com time to read: +5 min

Researchers analyzed global flood hazard datasets and annual settlement footprint data covering the three decades between 1985 and 2015 to understand the populations most affected by flood risk. They found over this period, as the world’s settlements grew by 85%, urbanization happened much more rapidly in high-hazard flood zones than in areas with low flood risk. In 2015, more than 11% of built-up areas globally faced high or very high flood risk, meaning areas at risk of flooding depths of at least 50 cm (17 inches) during 1-in-100-year flooding events, according to the report. Upper-middle income countries had the largest proportion of new human settlements in the highest flood risk zones, the report found. “This is concerning as development patterns are enhancing risk without climate change – climate change will further exacerbate these risks in the future.”

Persons: ”, Paolo Avner, Netherlands –, Molave, Manan Vatsyayana, Robert Nicholls Organizations: CNN, World Bank, Municipal, University of East Locations: East Asia, North America, Saharan Africa, China, Japan, Netherlands, Vietnam, Hoi, AFP, Southwest Florida, University of East Anglia

☆ Strong retail sales in the face of stubborn inflation bodes well for two of our consumer stocks
▼ + stars: | 2023-09-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

This week's government economic data revealed pockets of durable consumer spending despite sticky inflation, signaling a favorable quarter ahead and further upside for two of our retail stocks. Since Amazon is the largest e-commerce retailer, the government data suggests Amazon sales in the third quarter should be positive sequentially. Case for Costco Strong August retail sales numbers also bode well for Costco which essentially sells most items listed in the government's dataset. According to Jim, Costco has been doing so well because "the consumer seems very intrigued by bargains," as they've dealt with high inflation for over a year. For August, Costco said U.S. sales rose 2.8% from a year ago, slightly edging out the year-over-year, inflation-adjusted 2.5% gain in U.S. retail sales overall, reported by the Commerce Department.

Persons: we're, Morgan Stanley, Amazon's, Jim Cramer, bode, Jim, Jefferies, Costco's Kirkland, Jim Cramer's, Robert Nickelsberg Organizations: Texas, Costco, Amazon, Deal, Management, Commerce Department, Jefferies, Telsey Advisory, CNBC, Costco Wholesale, Getty Locations: U.S, Colchester , Vermont

☆ Insider Today: Big banks are screwed
▼ + stars: | 2023-09-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

It's the latest example of the pressure big banks are under to keep their place atop Wall Street. Before the announcement, the bank's share price was down almost 9% this year, trailing all of its fellow big bank peers in the US except Bank of America. Citi's overhaul represents how big banks are scrambling to stay on top of a financial world passing them by. CEO Jamie Dimon recently quipped he "wouldn't be a big buyer of a bank" in reference to proposed regulations requiring big banks to keep more money on the sidelines. Whether it's fintechs or so-called shadow banks, there's no shortage of players looking to offer services previously dominated by big banks.

Persons: that'll, isn't, Mike Kemp, Insider's Jennifer Sor, Jane Fraser, Fraser, Fraser isn't, she's, Michael Corbat, Citi's reorg, Goldman Sachs, David Solomon, Rebecca Ungarino, Wells, Charlie Scharf, JPMorgan — isn't, Jamie Dimon, it's, Robert Nickelsberg, Morgan Stanley, — isn't, Arantza Pena Popo, Nicole Zaridze, Elon Musk, Post Malone, —, Hunter Biden, Garrett Ziegler, Paul Morigi, Biden's, Joey Hadden, I've, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Citigroup, Getty, Bank of America, JPMorgan, Independence, Apple, Post, SEC, Trump, Wikimedia, Motors, Ford, Nintendo Locations: Wall, Silicon, Seattle, New York City, China, Boxabl, Michigan, San Diego, London, New York

☆ Alison Rose: NatWest bank CEO resigns over leaking Nigel Farage financial details
▼ + stars: | 2023-07-26 | by ( Robert North | ) edition.cnn.com time to read: +1 min

London CNN —The CEO of one of the biggest banks in the United Kingdom has resigned after admitting she leaked details of Brexit campaigner and political commentator Nigel Farage’s finances to BBC News. The lender was later revealed in UK media to be Coutts, a bank for the rich owned by NatWest. Mr Farage said he believed the decision to close his Coutts account was due to his political views. The BBC then reported that it had been told by a senior source at the bank that Farage’s accounts had been closed for commercial reasons. On Tuesday night, Alison Rose confirmed she had been the source for the BBC report and apologized.

Persons: Nigel Farage’s, Alison Rose, “, Nigel Farage, Donald Trump, Coutts, Mr Farage, Farage, ” Alison Rose, Paul Thwaite Organizations: London CNN, BBC News, NatWest, BBC Locations: United Kingdom, ”

☆ The war against inflation is a long way away from being won
▼ + stars: | 2023-07-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

But those data points reflected relative rates of change, not capturing the overall surge that led to the highest inflation level in more than 40 years. The 12-month PPI reading had peaked at an annual rate of 11.6% in March 2022, its highest ever in data going back to November 2010. "Near-term price inflation may do little to contradict rising Fed official and market hope that a benign outcome is being achieved." For their part, Fed officials have indicated they see their benchmark rate rising by at least half a percentage point by the end of the year. So-called core inflation rose 0.2% in June and was tracking at a 4.8% annual rate, much higher than the Fed would like.

Persons: Robert Nickelsberg, Jared Bernstein, Sharp, Andrew Hollenhorst, Hollenhorst, Jerome Powell, That's Organizations: Hannaford, Financial, White House's Council, Economic Advisers, CNBC, Labor Department, Citigroup, Energy, of Labor Statistics Locations: South Burlington , Vermont

Their experience, which culminates in a demonstration day, is supposed to be the most productive three months of the fellows’ lives. And this year at the Archbishop’s Mansion in San Francisco, the home of the fellows, almost everyone has been monastically focused on what has become the city’s newest religion: artificial intelligence. gospel had not yet spread in 2021, when Fontenot and his two co-founders, Emily Liu and Evan Stites-Clayton, started the accelerator. But at the mansion in San Francisco, eight of the 10 companies in HF0’s first batch this year were working on A.I.-based apps. “But there’s a threshold where they become dramatically more useful, and I think now it’s crossed that.”

Persons: HF0, ’, Dave Fontenot, Fontenot, Emily Liu, Evan Stites, OpenAI, ”, Robert Nishihara Organizations: Spotify Locations: San Francisco, Clayton, Miami

☆ Inflation is alive, the Fed could hike rates again, and businesses are facing greater uncertainties today than in the past 50 years, former Home Depot CEO says
▼ + stars: | 2023-06-07 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Consumer-price pressures remain high in the US, suggesting the Fed could hike interest rates again, according to Robert Nardelli. I think we still got a way to go," the former Home Depot CEO said. That view is at odds with market expectations that the Fed will likely pause its interest-rate hikes this month. That could mean the Fed will raise interest rates further, Nardelli said, especially with May's strong payroll report showing the labor market remains robust, with US employers adding 339,000 jobs. The nation's central bank has already hiked interest rates by 500 basis points since early 2022 in a bid to tame soaring price pressures.

Persons: Robert Nardelli, —, Nardelli, Neil Cavuto, I've Organizations: Home, Service, Federal Reserve, Fox Business, Chrysler

☆ Tell Us About Your Experience With Coinbase
▼ + stars: | 2023-06-06 | by ( Dave Michaels | ) www.wsj.com time to read: 1 min

A Coinbase sign in New York City. Photo: Robert Nickelsberg/Getty ImagesAre you a Coinbase shareholder? In the form below, tell us about how you came to own the shares and what you plan to do with them now. A Wall Street Journal reporter may reach out to you.

Persons: Robert Nickelsberg Locations: New York City

☆ Debt ceiling crisis: How a US default would ricochet around the world
▼ + stars: | 2023-05-26 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

But if it does, it could make the 2008 global financial crisis feel like a walk in the park. The consequences are frightful.”The belief that America’s government will pay its creditors on time underpins the smooth functioning of the global financial system. During the 2011 standoff over raising the US debt ceiling, the S&P 500 index of leading US shares plunged more than 15%. “It’s unclear in a Treasury default crisis whether the Fed could do enough even with the types of efforts it deployed in March 2020,” Obstfeld said. “A default would be a message to investors all around the world of eroding confidence in America,” he added.

☆ Here’s the inflation breakdown for April 2023 — in one chart
▼ + stars: | 2023-05-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Where consumers saw prices fall in AprilConsumers saw average prices decline outright in April in certain categories. Housing — the largest component of the average household's budget — was the largest contributor to inflation in April, the BLS said. watch now"It looks like inflation in the [shelter] category has peaked," Andrew Hunter, senior U.S. economist at Capital Economics, said. Overall, households are faring much better than they were months ago relative to inflation in staples like food, energy and housing, according to Zandi at Moody's Analytics. Why inflation surged to multi-decade highsConsumer prices began rising rapidly in early 2021 as the U.S. economy started to reopen after the pandemic-related shutdown.

☆ Here’s what’s getting cheaper at the grocery store
▼ + stars: | 2023-05-10 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

Those menu prices went up by 0.6%. Shoppers started seeing relief in the grocery store in March, when grocery prices fell for the first time since September 2020. In the year through April, food prices went up by 7.7%, with grocery prices jumping 7.1% and menu prices increasing 8.6%. Ham got 6.5% more expensive, poultry prices rose 5%, and fish and seafood rose 2%. Prices in AprilEven though prices food prices overall have been high this year, April was an easier month for shoppers.

☆ A Once-Pink Manhattan Townhouse Gets a Paint Job and $29.95 Million Price Tag
▼ + stars: | 2023-04-28 | by ( E.B. Solomont | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. Serial house-flippers Cortney and Robert Novogratz have done it again. This time, they are asking $29.95 million for a newly renovated Manhattan townhouse that was painted bright pink for decades.

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☆ Intel co-founder Gordon Moore, prophet of the rise of the PC, dies at 94
▼ + stars: | 2023-03-25 | by ( Noel Randewich | ) www.reuters.com time to read: +5 min

SAN FRANCISCO, March 24 (Reuters) - Intel Corp (INTC.O) co-founder Gordon Moore, a pioneer in the semiconductor industry whose "Moore's Law" predicted a steady rise in computing power for decades, died Friday at the age of 94, the company announced. Intel and Moore's family philanthropic foundation said he died surrounded by family at his home in Hawaii. In recent years, Intel rivals such as Nvidia Corp (NVDA.O) have contended that Moore's Law no longer holds as improvements in chip manufacturing have slowed down. He went to work at the Shockley Semiconductor Laboratory where he met future Intel cofounder Robert Noyce. In 1968, Moore and Noyce left Fairchild to start the memory chip company soon to be named Intel, an abbreviation of Integrated Electronics.

☆ Intel co-founder Gordon Moore, author of ‘Moore’s Law’ that helped drive computer revolution, dies at 94
▼ + stars: | 2023-03-24 | by ( ) edition.cnn.com time to read: +5 min

Intel co-founder Gordon Moore, a pioneer in the semiconductor industry whose “Moore’s Law” predicted a steady rise in computing power for decades, died Friday at the age of 94, the company announced. Intel (INTC) and Moore’s family philanthropic foundation said he died surrounded by family at his home in Hawaii. It’s been a phenomenal ride.”In recent years, Intel rivals such as Nvidia (NVDA) have contended that Moore’s Law no longer holds as improvements in chip manufacturing have slowed down. He went to work at the Shockley Semiconductor Laboratory where he met future Intel cofounder Robert Noyce. In 1968, Moore and Noyce left Fairchild to start the memory chip company soon to be named Intel, an abbreviation of Integrated Electronics.

☆ Venture Capital Investors Are Trying to Take Over Pandemic Response
▼ + stars: | 2023-03-12 | by ( Adam Rogers | ) www.businessinsider.com time to read: +19 min

Private capital has been eyeing public health for years. Several founders and investors told me that the failure of Kleiner's fund made Silicon Valley wary of investing in pandemic preparedness. Venture investors love that kind of thing. Public health and private industryWhen COVID hit, Charity Dean was the assistant director of the California Department of Public Health. In the end, almost every pandemic-related product created by Silicon Valley will ultimately require the government as a primary customer.

☆ Tony Danker: Head of CBI steps aside following workplace conduct allegations
▼ + stars: | 2023-03-06 | by ( Robert North | ) edition.cnn.com time to read: +1 min

London CNN —The head of the main business lobby in the United Kingdom is stepping aside while an investigation takes place into complaints about his workplace conduct. The Confederation of British Industry (CBI) said it initially received an allegation against Director-General Tony Danker in January. The CBI was made aware of new reports regarding Danker’s conduct last week and has now launched an independent investigation, it added. In a statement on Twitter, Danker said he supported the CBI’s independent probe and had made the decision to step aside while it was underway. Danker and the organization frequently weigh in on political and economic issues, from Brexit to the United Kingdom’s investment outlook.

☆ Fact Check-Suramin is not a proven cure for autism
▼ + stars: | 2023-02-22 | by ( Reuters Fact Check | ) www.reuters.com time to read: +6 min

Examples of users sharing the claim that suramin is a “relatively cheap” autism “cure” can be seen (here) and (here)Some posts refer to the treatment having caused “non-verbal” children with autism to start speaking within hours, but without citing the source of that alleged result. NO CURE FOR ASDThe U.S. National Institutes of Health (NIH) and the Food & Drug Administration (FDA) websites say that there is no cure for ASD, and caution against using any non-approved medication to treat ASD (here), (here). Other drugs may improve ASD symptoms, according to the NIH (here). The study found small, temporary improvements in scores on a diagnostic assessment for autism known as the Autism Diagnostic Observation Schedule, 2nd edition (ADOS-2) examination (here). Suramin is not a proven cure or treatment for autism spectrum disorder (ASD), but preliminary research suggests it might have promise to improve symptoms associated with ASD.

☆ Visa Finance Chief Vasant Prabhu to Depart in September
▼ + stars: | 2023-02-16 | by ( Mark Maurer | ) www.wsj.com time to read: +2 min

Visa Inc. said its chief financial officer, Vasant Prabhu, is stepping down as the payments giant works to continue growing certain merchant services and making acquisitions. Mr. Prabhu will leave Visa on Sept. 30, the San Francisco-based company said Thursday. Mr. Prabhu, who also served as vice chair, will assist Visa with the search for and onboarding of his successor before stepping down from his role, the company said. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. Visa in January reported $7.94 billion in revenue for the quarter ended Dec. 31, up 12.4% from the prior-year period.

☆ Hate your commute? It might actually be good for your mental health, scientists say.
▼ + stars: | 2023-02-07 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +4 min

The commute is often seen as a chore, but the pandemic showed it can be good for your mental health. You need protected time to mentally switch gears after work to prevent burnout, two experts said. This happens on two fronts, the researchers said: psychological detachment and psychological recovery. In an unpublished study, the researchers asked 80 university employees to discuss situations when they were able to mentally switch off. Remote workers, who don't tend to have a commute, can also learn to switch off by creating a fake commute for themselves.

☆ Halliburton's stellar Q4 shows strong oil demand can sustain the Club holding through 2023
▼ + stars: | 2023-01-24 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Bottom line Halliburton served up another strong quarter, with a headline earnings beat , strong margin expansion, solid cash flows and a robust outlook. Even better, the management team doesn't expect investments in new oil-and-gas projects to wane any time soon. Given years of material underinvestment in oil-and-gas production in the U.S. and an undersupplied global oil market, management expects demand to sustain the company beyond 2023. Management expects "activity to remain strong and service intensity to increase through 2023." As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

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