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California’s state budget dwarfs the gross domestic products of some countries, supporting the nation’s most populous state and the world’s fifth-largest economy. When Golden State finances swing, there is an impact — and they can swing wildly. Two years ago, the state was projecting a record surplus; now, state lawmakers are confronting tens of billions of dollars in red ink. State law requires legislators to pass a balanced budget by June 15 each year or lose their pay and expense money. Why do California’s finances jump around so much?
Persons: Gavin Newsom Organizations: Golden, Gov
The European Commission, the EU’s executive arm, launched the probe in October to establish whether Chinese EV prices are artificially low because of subsidies and so hurt European carmakers. Europe is the main destination for Chinese EV exports. The new EV tariffs are likely to kick off intense negotiations between Beijing and Brussels aimed at averting a damaging trade war. Many of them manufacture cars in China and then sell them in Europe, a set-up that will be more costly as a result of the higher tariffs. Alternatively, Beijing could pledge investment into EU countries and promise better market access in China for EU firms, the Rhodium analysts wrote.
Persons: ” Will Roberts, BYD, Roberts, , Olaf Scholz, , Joe Biden, Olesya Dmitracova, Mark Thompson, Shawn Deng, Alex Stambaugh Organizations: London CNN, European Union, European Commission, Commission, Volvo, SAIC, EV, EU, Rho Motion, China’s Ministry of Commerce, Rho, Renault’s, CNN, , France EU, Group Locations: China, Beijing, European, Brussels, Washington, EU, Europe, Renault’s Dacia, “ Beijing, Germany, France, Spain, United States, Hungary, London, Hong Kong
CNN —Former President Donald Trump lately has dangled some very specific promises to his audiences. But Trump’s campaign has prioritized flipping Nevada and the Democratic Party’s historical advantage in Latino communities, and polling suggests they have made progress on both fronts. Trump’s campaign confirmed the former president intends to seek a legislative change. “President Trump will ask Congress to eliminate taxes on tips,” spokesperson Karoline Leavitt told CNN. Trump has published an entire website to host many of his proposals for a second term.
Persons: Donald Trump, Trump, Joe Biden’s, ” Trump, hasn’t, Ron Wyden, Sheldon Whitehouse, Trump’s, , , Karoline Leavitt, “ Joe Biden, Biden, Chase Oliver, Ross Ulbricht, Ulbricht, Ross, Joe Biden, ” Oliver, Harris, ” Biden, Quentin Fulks, headwinds, Shawn Fain Organizations: CNN, Las, Libertarian, Trump, Republican, Biden, Democratic, National Rifle Association, Senate Democrats, Washington Post, Oregon Democrat, Rhode, Culinary Workers Union Local, Garden State, US Department of Justice, Black Voters, Black, United Auto Workers, Fox Locations: Las Vegas, Michigan, In Nevada, Nevada, U.S, Oregon, Rhode Island, Wildwood , New Jersey, Garden, battlegrounds, Detroit
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
London CNN —Two 12-year-old boys have been found guilty of killing a man in a machete attack in the United Kingdom last November, police said Monday. The boys, who cannot be identified for legal reasons, murdered 19-year-old Shawn Seesahai in a park in Wolverhampton, central England, West Midlands Police said in a statement. Seesahai, who was from Anguilla, had only lived in the UK for about six months, the statement said. A witness told the court that one defendant used the machete on Seesahai’s legs while the other punched and stamped on his head, PA said. The boys are expected to be sentenced in July, PA reported.
Persons: Shawn Seesahai, Seesahai, , Seesahai’s, Organizations: London CNN —, West Midlands Police, , ” Nottingham Crown Locations: United Kingdom, Wolverhampton, England, Anguilla, ” Nottingham,
A court-appointed monitor overseeing the operations of the United Automobile Workers union is investigating disputes involving the union’s president, Shawn Fain, and two U.A.W. officials who say they were improperly stripped of duties. The monitor, Neil M. Barofsky, also accused the union on Monday of a “lapse in cooperation” with the investigation, saying it had taken months to turn over relevant documents and then provided only a small fraction of those requested. The union declined to comment. That process also resulted in the union’s first election of a president by a vote of the full membership — balloting that elevated Mr. Fain, running as an insurgent candidate, to the top job in a runoff last year.
Persons: Shawn Fain, Neil M, Barofsky’s, Fain Organizations: United Automobile Workers, Department Locations: Michigan
UAW president under investigation by federal monitor
  + stars: | 2024-06-10 | by ( Michael Wayland | ) www.cnbc.com   time to read: +1 min
DETROIT — United Auto Workers President Shawn Fain is under investigation by a federal court-appointed watchdog who is tasked with monitoring the union and eliminating corruption, according to a Monday court filing. The monitor, Neil Barofsky, is investigating whether Fain abused his power as union president. He also accuses union leaders, including Fain, of obstructing the investigation and interfering with his access to information. More recently, the filing says the monitor expanded the investigation to include additional allegations of retaliation by Fain against one of the union's vice presidents. The monitor also opened an unrelated investigation into another unnamed UAW International Executive Board, or IEB, member, a regional director, after receiving allegations of potential embezzlement, according to the filing.
Persons: Shawn Fain, Neil Barofsky, Fain Organizations: United Auto Workers, Health, Education, Labor, Pensions, Washington , D.C, DETROIT — United Auto Workers, UAW, U.S . Department of Justice, Union, UAW International, Board Locations: Dirksen, Washington ,, DETROIT
— When Gil Curren's family moved into a run-down farmhouse in Walmart's hometown of Bentonville, Arkansas, in 1971, the now-retail giant wasn't yet a decade old. Craft cocktails, hipster coffee shops and chef-driven restaurants have popped up around the city. Realtor Kristen Boozman, who works for Sotheby's, helps clients search for homes in the Bentonville area, including many buyers who are relocating from another city. Home values have shot up in the Bentonville area. A Walmart spokeswoman said the Walton Family Foundation funds and advocates for affordable housing projects in the Bentonville area.
Persons: Gil Curren's, it's, Sue, Gil Curren, Melissa Repko, Hunt, Tyson, Shawn Baldwin, Sam Walton, Walton, Walton's, Steuart, Tom Walton, Sam Walton's, Alice Walton, Bridges, She's, Crystal Bridges, Kristen Boozman, There's, Donna Morris, Morris, Tracy Robinson, she's, CNBC Tracy Robinson, Robinson, Stanley, Matthew Cooper, Tom, Cooper, he's, district's, It's, Jeff Webster, Bentonville Shawn Baldwin Organizations: Cyclists, Kansas City, CNBC, Walmart, Craft, Fortune, Tyson Foods, PepsiCo, Hershey, Mattel, . Census, Cushman &, Sage Partners, of Commerce, Northwest Arkansas Council, D.C, Ropeswing Hospitality, Bentonville Schools, Excellerate Foundation, Walton Family Foundation, Walton Family, Bentonville Locations: BENTONVILLE, Ark, Walmart's, Bentonville , Arkansas, Bentonville, Kansas, Austin , Texas, New York, U.S, Silicon, It's, Arkansas, Cushman & Wakefield, American, Crystal, Austin, Boise , Idaho, Dallas, Fort Worth, Atlanta, Toronto, New York City, Miami, Washington, New York City , Washington, Bentonville's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Walmart turned Bentonville, Arkansas into a boomtownWalmart's hometown of Bentonville, Arkansas has become a boomtown with many amenities you might expect to find in New York or San Francisco – fancy restaurants, craft cocktails, bike paths and a world-class art museum. The town has more cranes per capita than any other U.S. city as Walmart builds a 350-acre new headquarters. Bentonville's population is expected to triple by 2050. But with the boom comes big-city economic challenges. CNBC's Melissa Repko travels to Bentonville for the story.
Persons: CNBC's Melissa Repko Organizations: Walmart Locations: Bentonville , Arkansas, New York, Francisco, Bentonville
Sixteen thousand people erupted into rapture when Donald J. Trump walked into the Prudential Center in Newark at 10 p.m. Saturday to attend an Ultimate Fighting Championship match. He stayed until the grisly end, at 1:15 a.m. It was his first public outing since being convicted on 34 felony counts two days earlier. He walked out to Kid Rock’s “American Bad Ass,” a rock-rap trailer park anthem that samples Metallica’s “Sad But True” and has become the unofficial soundtrack of Mr. Trump’s quest to recapture the White House. Chosen one, I’m the living proofWith the gift of gab, from the city of truthI jabbed and stabbed and knocked critics backA moment after Mr. Trump took his seat, the stadium took up a spontaneous chant of President Biden’s name preceded by an expletive.
Persons: Donald J, Trump, Rock’s, Biden’s Organizations: Prudential Center, House Locations: Newark
Mr. Giuliani’s run-ins with the law have left his life and finances in tatters. Mr. Giuliani has filed for bankruptcy and owes two Georgia women a $148 million judgment from a defamation case. “Anyone who thinks that Mr. Giuliani is off his game in terms of legal acumen is strongly mistaken,” Mr. Aidala said. Like many at the birthday party, Mr. Aidala was displeased by Mr. Trump’s conviction on charges related to hiding hush money paid to a porn star. In the video, Mr. Trump stands with a small crowd of people who appear to be some of his supporters.
Persons: Donald J, Trump, Rudolph W, Giuliani, Giuliani’s, Mr, Anthony Carbonetti, Barry Kamins, “ He’s, he’s, John Catsimatidis, , we’ve, Kamins, Arthur Aidala, , ” Mr, Aidala, Harvey Weinstein, Andrew, Caroline, Bernard B, Rudy Washington, Raheem Kassam, Miranda Devine, Michael Ragusa, holstered, Scott LoBaido, I’m, MAGA ”, “ Joe, Rudy Giuliani, Rudy Organizations: City Hall, Republican, WABC, New York, Mr, The New York Times, Breitbart, New, New York Post, Trump Locations: tatters, Arizona, Georgia, Washington, Dodge Durango, client’s, Panama, Lower Manhattan, New York City, New York, Bay Ridge, Brooklyn, Staten Island, America, Suffolk County
A few blocks away, at an Italian restaurant on East 56th Street, his former lawyer, Rudolph W. Giuliani, was having a party for his 80th birthday. As he left a previous party celebrating the same birthday, he was served notice of his indictment in an Arizona election-interference case. He has also been indicted in Georgia in connection to his efforts to overturn the 2020 election. Mr. Giuliani has filed for bankruptcy and owes two Georgia women a $148 million judgment from a defamation case. Mr. Trump has done little to help with his legal bills.
Persons: Donald J, Trump, Rudolph W, Giuliani, Giuliani’s, Mr Locations: tatters, Arizona, Georgia
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Some of the women had been adventuring their whole lives, while it took others a little longer — but all of them were active, healthy, and happy. Related storiesPaul shared three things she learned about healthy aging while researching her book. Being in nature has a range of health benefits82-year-old Louise Wholey, who Paul interviewed for her book, scuba diving. Advertisement"You don't have to wing walk, you don't have to scuba dive.
Persons: , Caroline Paul, Shawn Brokemond, Paul, needn't, Louise Wholey, it's, Heidi, Dacher Keltner Organizations: Service, El, Business, Bloomsbury Publishing, University of Massachusetts, University of California, New Locations: Yosemite, El Capitan, New Yorker
CNN —Months after singer Cassie Ventura filed suit against her ex-boyfriend Sean “Diddy” Combs, his life looks very different. But the video could become evidence in an ongoing federal investigation related to Combs and allegations of sex trafficking. Members of law enforcement are seen outside of Sean "Diddy" Combs' home in Los Angeles on March 25, 2024. Sean "Diddy" Combs with Cassie Ventura attend the premiere of 'The Perfect Match' at the Arclight Theatre in Los Angeles in 2016. An aerial image of Sean "Diddy" Combs' home in Los Angeles on March 25, 2024.
Persons: Cassie Ventura, Sean “ Diddy ” Combs, Ventura, Combs, , Here’s, HSI, Sean, Diddy, ” Aaron Dyer, Justin, Misa Hylton, Christian, , Hylton, Kim Porter, Sean Combs, Jessie, Rodney “, Rod ” Jones, Jones, ” Jones, Chris Delmas, ” Ben Brafman, Shawn Holley, they’ve, Department’s, Kelly, , Elie Honig, CNN’s Sandra Gonzalez, John Miller, Elizabeth Wolfe, Eric Levenson, Denise Royal, Holmes Lybrand, Carlos Suarez Organizations: CNN, Bad Boy Records, Los Angeles County, Attorney’s, US Justice Department, Authorities, Federal, Homeland Security Investigations, US Department of Homeland Security, KCBS, Arclight Theatre, Getty Locations: New York, Miami, Los Angeles, , AFP
The center, a division of the National Weather Service, issued a modern geomagnetic storm watch, known as a G2, for Friday and Saturday. Unlike the G5, or extreme geomagnetic storm, that occurred on May 10, moderate storm watches are not uncommon, according to the center. But the aurora-causing solar flares and coronal mass ejections currently spewing from the sun are a result of the same sunspots that triggered solar activity in May, according to Dr. Ryan French, solar physicist at the National Solar Observatory in Boulder, Colorado. “The frequency of things is decreasing, but you only need one to cause a large geomagnetic storm. The solar storm on May 10 was the most successfully mitigated space weather storm in history, Dahl said.
Persons: Ryan French, Lokman Vural, “ It’s, , Shawn Dahl, Dahl, ” Dahl, , That’s, there’s Organizations: CNN, United, National Oceanic, Prediction, National Weather Service, Anadolu Agency, Getty, Solar Dynamics, auroras, , European Space Agency Locations: United States, Midwest, New York, Idaho, Boulder , Colorado, Rochester , New York, Sweden, South Africa
CNN —The Florida sheriff’s deputy who fatally shot a Black man in his home has been fired, the sheriff’s office announced Friday. The decision followed an internal investigation into the former deputy, Eddie Duran. A separate criminal investigation into the deputy’s actions is ongoing with the Florida Department of Law Enforcement. Mr. Fortson did not commit any crime. He joined the sheriff’s office again in June 2023.
Persons: Eddie Duran, Eric Aden, , Roger Fortson, Fortson, Duran, ” Aden, ” Duran, Christina Maxouris, Shawn Nottingham, Melissa Alonso, Dakin Andone Organizations: CNN, Florida Department of Law, Sheriff’s, Okaloosa Locations: Florida, Okaloosa
Why there's a massive copper shortage
  + stars: | 2024-05-31 | by ( Shawn Baldwin | ) www.cnbc.com   time to read: +1 min
Demand for copper is surging. The red metal, considered a barometer for economic health, is a vital component for the construction and defense industries as well as a key component in electric cars, wind turbines and the power grid. Existing mines and projects under construction will meet only 80% of copper needs by 2030, according to the International Energy Agency. "High-grade economic copper resources are not abundant, these things aren't all over the place, you have to go find them," said Chris LaFemina, global metals and mining analyst at Jefferies. To look at the challenges facing copper producers, CNBC got a behind the scenes look at Rio Tinto's Kennecott mining operation outside of Salt Lake City.
Persons: Chris LaFemina Organizations: International Energy Agency, Jefferies, CNBC Locations: Rio, Salt Lake City
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI bought an ice cream shop—now it brings in $1.2 million a yearShawn Allard, 27, quit his job as a dental consultant last year to buy Novel Ice Cream, which owns two Arizona-based ice cream shops. Novel boasts 12 different ice cream flavors, which can be scooped into a standard waffle cone or stuffed between either glazed donuts or Belgian waffles. The business brought in $1.2 million in 2023 sales, according to documents reviewed by CNBC Make It.
Persons: Shawn Allard Organizations: CNBC Locations: Arizona
A broker sent him a listing: The founder of Novel Ice Cream, which owned two local scoop shops in Arizona, wanted to sell. The parties agreed on a $1.1 million purchase price for Novel. "They really liked the idea, and so they graciously put down the $110,000, which was 10% of the purchase price, to buy [it]." Allard bought the scoop shops — located in Phoenix and Mesa, respectively — in August 2023. "I'm living way below my means so I can invest as much as possible back into my business."
Persons: Shawn Allard, Allard, He's Organizations: Small Business Administration, CNBC Locations: Arizona, Phoenix, Mesa
I am Anne Marie and she is Alice Marie, named after one of her mother's eight sisters, Anna Marie. The women in my family have been named after prior generationsThis long line of sisters kicked off what would be names linking generations of women in my family. The oldest daughter of Alice and Jack was named Anne Marie after the two beloved sisters, Phyllis Anne and Alice Marie. Mary Lou had a daughter named Shawn Marie, who would become my mother's cousin and best friend–and like a second mother to me. Her hair, a natural auburn not unlike her sister's, has always been dyed blonde, not unlike Aunt Mary Lou.
Persons: Anne Marie, Alice Marie, Anna Marie, Olga Margret, Elsie Meta, Wanda May, Irene Lucille, Jean Clyde, Helen Dawn, Shirley Jean, Phyllis Anne, Phyllis, Jack, I'd, she'd, Alice, Sally Lou —, Sally Lou's, Mary Louise, Mary Louise our Grandma Louise, Grandma Louise, , Mary Lou, Shawn Marie, , Sally Lou, Anne Marie . Standing, She's, Roderique, John James Roderique, James Otis Roderique, James Hamlin Roderique, selflessly Organizations: Service Locations: auburn
The bombs used in the Israeli strike that killed dozens of Palestinians in a camp for displaced people near Rafah on Sunday were made in the United States, according to weapons experts and visual evidence reviewed by The New York Times. U.S. officials have been encouraging the Israeli military for months to increase the use of GBU-39 bombs in Gaza because they are generally more precise and better suited to urban environments than larger bombs, including U.S.-made 2,000-pound bombs that Israel routinely uses. “This is the smallest munition that our jets can use.”In response to questions from The Times, the Israeli military declined to specify the munition used. Image A fire raging after an Israeli strike on a camp for displaced people northwest of Rafah in southern Gaza on Sunday night. Credit... Reuters“The Israelis have said they used 37-pound bombs,” John Kirby, a White House spokesman said at a briefing on Tuesday.
Persons: Trevor Ball, Ball, Alam Sadeq, Woodward, Alam, Salam, Biden, , Daniel Hagari, Admiral Hagari, ” John Kirby, Larry Lewis, Mr, Lewis, , Wes J, Bryant, , ” Mr, ” Neil Collier, Eric Schmitt, Aaron Boxerman, Ainara Tiefenthäler, Shawn Paik Organizations: The New York Times, The Times, U.S . Army, U.S, Credit, New York Times, Kuwaiti Al, Israel, Reuters, Pentagon, State Department, American Air Force, Times Locations: Rafah, United States, U.S, Israel, Palestinian, Colorado, Kuwaiti, Gaza
CNN —The summer movie season typically starts with a bang during the month of May and, particularly, during Memorial Day weekend. Memorial Day weekend (Friday through Monday) movie ticket sales are estimated at $128.3 million, according to Comscore data provided to CNN. In fact, the US box office is on track to have its lowest-grossing Memorial Day weekend since the $117.1 million seen in 1995, when “Casper” haunted the screens — and that’s not even adjusting for inflation. The tepid Memorial Day weekend continues what’s been a lukewarm start to the summer box office, a movie-going season that’s still reeling from the effects of last year’s Hollywood strikes. Industry experts agree that the 2024 box office has been sluggish so far , but remain hopeful that the box office can rebound by the end of the year and beyond.
Persons: it’s, , “ Casper ”, that’s, ” Paul Degarabedian, Comscore, , Max, what’s, ” Dergarabedian, “ Barbie ”, “ Oppenheimer ”, Shawn Robbins, there’s, Degarabarian, Deadpool, ” “ Oppenheimer, Barbie ”, Dory, bloomer, Daniel Loria, ” Loria, ” Disney, Loria, “ Deadpool, Fandango, Robbins, “ That’s, , ” Robbins Organizations: CNN, Guild, SAG, Labor, , Warner Bros, Warner Bros ., Star, Walt Disney Studios, Disney, Box, showtime, Century Entertainment, Writers Guild of America, Pixar, Marvel, Industry Locations: United States,
New York CNN —The summer box office is off to a lukewarm start. Last summer, blockbusters “Barbie” and “Oppenheimer” combined added nearly a billion dollars to the domestic box office, according to Comscore data. “Barring some major overperformances, this summer looks like it’ll be down 20% to 25% in box office grosses between May and August from last year,” said analyst Shawn Robbins, founder and owner of Box Office Theory. Industry experts agree that the 2024 box office has been sluggish so far , but remain hopeful that the box office can rebound by the end of the year and beyond. “Box office earnings have been down largely because of staggered gaps between widely appealing releases in the first half of the year,” said Robbins.
Persons: “ Barbie ”, “ Oppenheimer ”, , Max, ” Paul Dergarabedian, , Shawn Robbins, ” “ Oppenheimer, Barbie ”, Dory, bloomer, Daniel Loria, ” Loria, ” Disney, Loria, “ Deadpool, Fandango, Deadpool, Robbins, “ That’s, , ” Robbins Organizations: New, New York CNN, Guild, SAG, CNN, Labor, , Warner Bros, Warner Bros ., Star, Walt Disney Studios, Disney, Box, showtime, Century Entertainment, Writers Guild of America, Pixar, Marvel, Industry Locations: New York, United States,
United Auto Workers (UAW) members and supporters on a picket line outside the ZF Chassis Systems plant in Tuscaloosa, Alabama, US, on Wednesday, Sept. 20, 2023. DETROIT – The United Auto Workers union is challenging the results of last week's organizing vote of Mercedes-Benz workers in Alabama, in which workers voted against union representation, and is asking federal officials to order a new election. Union organizing failed at the Alabama plant with 56% of the vote, or 2,642 workers, casting ballots against the UAW, according to the NLRB, which oversaw the election. The NLRB said its regional director will review the UAW's allegations of an unfair election. If after the hearing, she finds that the employer's conduct affected the election, she can order a new election.
Persons: Let's, isn't, Shawn Fain Organizations: United Auto Workers, UAW, ZF, Systems, DETROIT –, Mercedes, Benz, Union, National Labor Relations, NLRB Locations: Tuscaloosa , Alabama, Alabama, Detroit, Atlanta
Their firm, Stelle Lomont Rouhani Architects, quietly became known for a brand of beach modernism that sits lightly in nature, with million-dollar water views of sea grass and open skies. This East Hampton home overlooking the Three Mile Harbor is one of the creations by Stelle Lomont Rouhani Architects. This place to relax in solitude sits near one of the houses designed by Stelle Lomont Rouhani Architects. “Sometimes they got big,” said Mr. Stelle, 77, recalling one with 30,000 square feet. Ms. Rouhani, 54, said she developed the plan “to incorporate this idea of drama” casual enough for family life.
Persons: Fred Stelle, , Calvin Klein, Aerin Lauder, Michael Kors, Stelle, Viola Rouhani, Michael Lomont, Eleanor Donnelly, Stelle Lomont Rouhani, Shawn Henderson, Julie Hillman billow, Mr, Lomont, Lee Furness Jackman, , Hugh Jackman, Furness Jackman, Stelle lopped, Rouhani, Donnelly, Ms, Christie Brinkley Organizations: Hamptons, Mr, Stelle Lomont Rouhani Architects, Eastern Seaboard, Federal Emergency Management Agency, Fleetwood, LaGuardia Design Group Locations: Manhattan, Bridgehampton, Hampton, Australian, East Hampton, Plasticine
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