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☆ European Central Bank heads for first rate cut since 2019: Live updates
▼ + stars: | 2024-06-06 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Christine Lagarde, president of the European Central Bank (ECB), at a rates decision news conference in Frankfurt, Germany, on Thursday, April 11, 2024. The European Central Bank is widely expected to announce a reduction in interest rates at its meeting in Frankfurt on Thursday, despite lingering inflationary pressures in the 20-nation euro zone. The central bank's key rate has been at a record 4% since September 2023. A cut would be the ECB's first since September 2019, when the deposit facility was in negative territory. Canada on Wednesday became the first G7 nation to cut interest rates in the current cycle, while Sweden and Switzerland's central banks already announced their own rate reductions this year.

Persons: Christine Lagarde, Lagarde Organizations: European Central Bank, ECB, Reuters, U.S . Federal Reserve, Wednesday Locations: Frankfurt, Germany, Canada, Sweden

☆ Trump’s Conviction Made These Voters Rethink Their Choice for President
▼ + stars: | 2024-06-06 | by ( Reid J. Epstein | Camille Baker | ) www.nytimes.com time to read: 1 min

By the time former President Donald J. Trump was convicted last week on 34 felony counts, the vast majority of people had made up their minds about him. But a small sliver of Trump-ambivalent voters is out there — and in a close presidential election, they matter a lot. For days, The New York Times has been listening to those voters process the news of Mr. Trump’s conviction, trying to measure the small shifts that could alter the contest between him and President Biden. A New York Times/Siena College Poll study of nearly 2,000 voters found modest good news for Mr. Biden. While the vast majority of people had not changed their position on the two men, more voters moved away from Mr. Trump than toward him.

Persons: Donald J, Trump, Trump’s, Biden, Will Trump, Will Biden Organizations: New York Times, Siena

A man shelters from the rain under an umbrella as he walks past the Euro currency sign in front of the former European Central Bank (ECB) building in Frankfurt am Main, western Germany. Euro zone government bond yields extended gains Thursday afternoon, shortly after the European Central Bank announced its first interest rate cut in five years. Germany's 10-year bond yield, seen as the euro area benchmark, was up 6 basis points to 2.557% at 3:12 p.m. London time. The country's 2-year bond yield was higher by 4 basis points to 3.025%. Italy's 10-year bond yield was up 7 basis points to 3.88%, while the yield of the Spanish bond of the same maturity added 6 basis points to 3.29%.

Organizations: European Central Bank, ECB, Bank Syz Locations: Frankfurt, Germany, London

☆ Drinking alcohol before napping on flights presents health risk, study finds
▼ + stars: | 2024-06-05 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

A popular pastime on long-haul flights — drinking alcohol before dozing off to sleep — may present health risks even to young and healthy passengers, according to a new study. The combination of alcohol consumption, sleep and the low oxygen concentration at high altitudes was found to challenge the cardiovascular system and extend the duration of hypoxaemia, or low levels of oxygen in the blood. Inflight sleep already exacerbates the fall in blood oxygen saturation caused by the reduced atmospheric pressure in aircraft cabins, the study states. Under the added effect of alcohol consumption, lab tests showed that participants' blood oxygen saturation decreased further, their heart rate increased and deep sleep was reduced. Even "young and healthy participants" suffered from "clinically relevant" desaturations and heart rate accelerations during sleep, the study found.

Persons: Eva, Maria Elmenhorst Organizations: German Aerospace Center's Institute of Aerospace Medicine, Aachen University, NBC News

☆ 'You name it, Labour will tax it': UK PM Sunak attacks main rival as he languishes in election polls
▼ + stars: | 2024-06-04 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

U.K. Prime Minister Rishi Sunak (left), leader of the incumbent Conservatives, and opposition leader Sir Keir Starmer of the Labour Party. The politicians traded barbs in their first head-to-head debate on Tuesday ahead of the July 4 General Election. "I'm clear that I'm going to keep cutting people's taxes as we now are ... Mark my words, Labour will raise your taxes, it's in their DNA. You name it, Labour will tax it," Sunak said. Labour leader Keir Starmer said the £2,000 calculation was "based on made-up Labour policies."

Persons: Rishi Sunak, Sir Keir Starmer, Sunak, Keir Starmer, Starmer, Liz Truss, Julie Etchingham Organizations: Conservatives, Labour Party, Conservative Party, Labour, Conservative, ITV News

☆ Fingers Point as Biden Closes Border to Asylum Seekers
▼ + stars: | 2024-06-04 | by ( Reid J. Epstein | Michael Gold | ) www.nytimes.com time to read: +1 min

At the beginning of his remarks from the White House on Tuesday announcing that he would prohibit migrants from seeking asylum at the U.S.-Mexico border, President Biden tried to make clear just whose fault it was that he was taking action by executive order. The White House, Mr. Biden said, had struck an agreement with congressional Republicans earlier this year on what he called the “strongest border security agreement in decades.”It did not take. Because Donald Trump told them to,” Mr. Biden said. That’s what he wanted to do.”On this, Mr. Biden proved correct. Mr. Trump, the presumptive Republican nominee set to face Mr. Biden in the general election, indeed attacked the president a couple of hours before his border announcement.

Persons: Biden, Donald Trump, ” Mr, Trump, Mr Organizations: White, Republicans, Republican Locations: U.S, Mexico

☆ Pharma giant GSK plunges 9% after U.S. court allows scientific testimony in Zantac lawsuits
▼ + stars: | 2024-06-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Company logo of pharmaceutical company GlaxoSmithKline is seen at their Stevenage facility, Britain October 26, 2020. LONDON — Shares of British pharmaceuticals giant GSK plunged 9% Monday, after a U.S. court ruled that scientific evidence could be presented in a stack of lawsuits relating to the discontinued heartburn drug Zantac. The Delaware State Court late on Friday ruled that plaintiffs' expert witnesses could testify in the roughly 75,000 cases alleging the once-popular drug ranitidine — sold under the brand name Zantac in the U.S. — may cause cancer. The companies involved deny there is a scientific consensus that the drug can be linked to any later development of cancers. In a statement Friday, GSK said it disagreed with the latest Delaware ruling and would immediately seek an appeal.

Persons: ranitidine —, Brent Wisner, Wisner Baum, Zantac Organizations: GlaxoSmithKline, Stevenage, GSK, Delaware State Court, France's, Pfizer, Germany's Locations: Britain, Delaware, U.S, France's Sanofi

☆ Watch CNBC's full interview with Inflection AI co-founder Reid Hoffman
▼ + stars: | 2024-06-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Inflection AI co-founder Reid HoffmanReid Hoffman, Greylock partner, Inflection AI co-founder and LinkedIn co-founder, joins 'Squawk Box' to discuss the launch of 'Reid AI', his own 'digital twin', the future of AI, concerns with deepfakes, state of the AI arms race, and more.

Persons: Reid Hoffman Reid Hoffman, Reid Organizations: LinkedIn

☆ Greylock partner Reid Hoffman on launch of 'Reid AI', deepfake concerns and state of AI arms race
▼ + stars: | 2024-06-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGreylock partner Reid Hoffman on launch of 'Reid AI', deepfake concerns and state of AI arms raceReid Hoffman, Greylock partner, Inflection AI co-founder and LinkedIn co-founder, joins 'Squawk Box' to discuss the launch of 'Reid AI', his own 'digital twin', the future of AI, concerns with deepfakes, state of the AI arms race, and more.

Persons: Reid Hoffman, Reid Organizations: LinkedIn

☆ Democrats wanted an agreement on using artificial intelligence. It went nowhere
▼ + stars: | 2024-06-03 | by ( ) www.cnbc.com time to read: +8 min

The Democratic National Committee was watching earlier this year as campaigns nationwide were experimenting with artificial intelligence. It asked campaigns to check work by AI tools, protect against biases and avoid using AI to create misleading content. It sent the proposal in March to the five Democratic campaign committees that seek to elect House, Senate, gubernatorial, state legislative and state attorneys general candidates to office, according to the draft agreement. The Democratic committee had hoped the statement would be signed by Chair Jaime Harrison and the leaders of the other organizations. Spokesmen from the Democratic Governors Association and Democratic Legislative Campaign Committee declined to comment.

Persons: Joe Biden, Hannah Muldavin, Muldavin, Jaime Harrison, Sam Altman, Eric Schmidt, Altman, Biden, Dustin Moskovitz, Reid Hoffman, – Organizations: White, Democratic National Committee, The Associated Press, Democratic, DNC, Republican National Committee, Google, Federal, Commission, Facebook, LinkedIn, Democratic Congressional Campaign, General, Associated Press, Democratic Governors Association, Democratic Legislative Locations: Washington , DC

☆ Brexit figurehead and Trump ally Nigel Farage to run in UK election after U-turn
▼ + stars: | 2024-06-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Nigel Farage, leader of Reform UK, during a news conference in London, UK, on Monday, June 3, 2024. LONDON — British politician and media personality Nigel Farage, best known for leading the Brexit campaign, announced Monday he would run in the U.K.'s general election next month. Farage had said he would not stand as a parliamentary candidate for his Reform party in order to focus on supporting Donald Trump's U.S. presidential campaign. Farage previously led the UK Independence Party, which rose to prominence in the 2010s on a platform of quitting the European Union, reducing immigration and opposing multiculturalism. This later became the right-wing populist Reform Party under a new leader, while Farage stepped away from politics and focused on media commentary.

Persons: Nigel Farage, Farage, Donald Trump's, —, Rishi Sunak, Keir Starmer Organizations: Reform, LONDON, UK Independence Party, European Union, UKIP, Brexit Party, Party, Conservative Party, Labour Party, Labour Locations: London, British

☆ Democrats Push Biden to Make Trump’s Felonies a Top 2024 Issue
▼ + stars: | 2024-06-01 | by ( Reid J. Epstein | Nicholas Nehamas | ) www.nytimes.com time to read: +1 min

Now that former President Donald J. Trump is a convicted criminal, the Democratic Party finds itself wrestling with a choice that will help define this year’s presidential race: Should it try to push his felonies to the center of the election? The route Democrats take may determine not only Mr. Biden’s fortunes but also, they say, the future of American democracy. Widely believing a vengeful Mr. Trump poses a grave threat to the nation, Democrats at all levels of the party are simultaneously thrilled to see him found guilty and fearful that he has a supernatural ability to survive even this political peril. Post-verdict interviews with more than 50 Democrats — including current and former members of Congress, statewide elected officials, veteran strategists, Democratic National Committee members and local officials — revealed a party hungry to tell voters that Mr. Trump’s conviction makes him unfit and worried that Mr. Biden might not use the bully pulpit of the presidency to press that argument. “I do think it is the obligation of every Democrat to remind every voter that Donald Trump is now a convicted felon and just how unprecedented this is,” said former Representative Beto O’Rourke of Texas, a Democrat who ran for the presidential nomination against Mr. Biden in 2020.

Persons: Donald J, Trump, —, Mr, Biden, Donald Trump, ”, Beto O’Rourke Organizations: Democratic Party, Democratic National Committee, Democrat Locations: Texas

☆ 'Many happy returns': Barclays names 2 global stocks it says has over 100% upside to play right now
▼ + stars: | 2024-05-31 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Shares of British luxury sports car manufacturer Aston Martin are set to rise more than twofold in the next 12 months, according to analysts from Barclays. The investment bank has an overweight rating on the stock at a price target of £300 ($380.79), giving it potential upside of about 116.5% from its closing price of £138.60 on May 30. Aston Martin is listed on the London Stock Exchange under the ticker AML. Shares in Aston Martin are down some 46.5% in the last 12 months. BP Another stock with massive upside potential on Barclays' radar is British oil and gas player BP .

Persons: Aston Martin, defensives, — CNBC's Michael Bloom, Jenni Reid Organizations: Barclays, London Stock Exchange, Aston, BP, London Stock Locations: Aston Martin, U.S, Europe

☆ Sometimes to save the internet, you must eat glue
▼ + stars: | 2024-05-31 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +5 min

The glue pizza search result was traced back to a comment from a Redditor who went by "fucksmith" making an obvious joke on the subreddit r/Pizza. Because I'm both brave and a genius, naturally, I had to try to make the glue pizza myself. Was Google's response to tamp down its big AI search ambitions just because a few jokesters on X made silly queries? The ridiculousness of those AI answers does call into question the entire concept of using AI for Google search results. And I like to convince myself that my eating glue pizza was part of the noise that prompted Google to act.

Persons: I'm, Barack Obama, Katie Notopoulos, Liz Reid, Reddit, Sundar Pichai, Max Read, John Herrman Organizations: Service, Google, Business, New York Magazine

☆ Euro zone inflation rises to 2.6% in May, but bloc still seen heading for interest rate cut
▼ + stars: | 2024-05-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Inflation in the euro zone rose to 2.6% in May, statistics agency Eurostat said Friday, but a higher-than-expected print did not sway market bets of an interest rate cut from the European Central Bank next week. Core inflation, excluding the volatile effects of energy, food, alcohol and tobacco, increased to 2.9% from 2.7% in April. The data comes with the ECB widely expected to cut interest rates at its June 6 meeting, the first reduction since 2019. While headline inflation increased in May, fluctuations in the rate have been forecast over the coming months due to base effects from the energy market and the unwinding of government fiscal support schemes across the bloc, . Staff are also due to release their latest round of inflation and growth projections at next week's meeting, providing more clues on the pace and level of potential cuts this year.

Persons: Klaas Knot, Kamil Kovar Organizations: Eurostat, European Central Bank, Reuters, ECB, Staff, Moody's, U.S . Locations: Corfu, Old Town, Greece, London

☆ Trump is a convicted felon. Here's what it means for the former president.
▼ + stars: | 2024-05-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the historic guilty verdict against former President Donald Trump . In a historic verdict, former President Donald Trump was convicted of all 34 criminal counts related to a hush-money payment made to a porn star , write Business Insider's Laura Italiano, Jacob Shamsian, and Natalie Musumeci. AdvertisementIt's the first time a US president has become a convicted felon. This was a rigged trial by a conflicted judge that was corrupt," Trump told reporters in the Manhattan courtroom hallway. Trump told reporters Thursday the "real verdict is going to be November 5 by the people."

Persons: —, Donald Trump, Tyler Le, Laura Italiano, Jacob Shamsian, Natalie Musumeci, Trump, Stormy Daniels, BI's Lloyd Lee, There's, didn't, Chip Somodevilla, Scott Eisen, Joe Biden, Alyssa Powell, Rob Arnott, Bob Elliott, Paul Singer's, Jane Street, Jenny Chang, Rodriguez, Liz Reid, Satya Nadella, Sam Altman, Nadella, Kevin Dietsch, Charles Schwab, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Republican, Trump, NBC, Getty, Wall, Elliott Management, BI, Tech, Sigma, Google, Microsoft, Apple, Big Locations: Giza, Manhattan, Bridgewater, New York, London

☆ How to make money from medical research and donations
▼ + stars: | 2024-05-30 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +7 min

Sell your blood plasmaBags of blood plasma being examined in a laboratory. During plasma donation, blood is drawn and an automated machine separates the plasma from other blood components, which are returned to the donor. Plasma donation pay varies from site to site, but the average payout is typically around $50 per donation. During the egg donation cycle, patients are injected with fertility drugs so that the ovaries make more mature eggs than normal. For example, here's a list of the most recent paid research studies offered by New York University.

Persons: —, Weill, You'll, what's, Carolina Reid, Stacy Thacker Organizations: Service, Business, Weill Cornell, of California, NASA, US Air Force Reserve, Institutes of Health, US Food and Drug Administration, New York University, NYU, Associated Press, Science Locations: United States, Houston , Texas

☆ Europe stocks set for another lower open as global sentiment sours ahead of inflation data
▼ + stars: | 2024-05-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

European stocks are on course for a lower open Thursday, continuing a negative trend this week as global markets come under pressure from rising bond yields. Equity market gloom has been mirrored globally, as expectations that interest rates will be higher for longer have driven up bond yields — generally a harmful move for stocks. First to release will be the euro zone, amid uncertainty over how how many times the European Central Bank will cut interest rates this year beyond its expected first cut at its June meeting next week. That will be followed by the U.S. personal consumption expenditures price index report, the Federal Reserve's preferred inflation gauge. The minutes from the Fed's most recent meeting and recent comments from policymakers have seen money markets fully price in just one rate cut from the world's biggest central bank this year.

Organizations: Equity, European Central Bank, U.S, Federal Locations: Asia, Pacific

Over recent years, few companies have provoked more anger among music fans than Ticketmaster. Last week, the Department of Justice announced it was taking the business to court. David McCabe, who covers technology policy for The Times, explains how the case could reshape America’s multibillion-dollar live music industry.

Persons: David McCabe Organizations: Ticketmaster, Department of Justice, The Times

☆ Europe stocks set to extend losses after worst session for a month
▼ + stars: | 2024-05-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

European stock markets are heading for a lower open on Wednesday following the worst session for a month. The benchmark Stoxx 600 dropped 0.6% on Tuesday, its steepest loss since April 30, as investors focus on the interest rate outlook and monitor rising global bond yields. European marketsA solid crop of first-quarter and full-year earnings has put the Stoxx on course for a monthly gain. "Earnings season was generally better than feared," Marcus Morris-Eyton, portfolio manager for Europe and global growth at AllianceBernstein, told CNBC's "Squawk Box Europe" on Tuesday. "51% of companies beat expectations, but actually two thirds of companies beat or met expectations, and when you dig beneath the surface what is particularly interesting is the margin strength across European companies during the quarter," Morris-Eyton said.

Persons: Marcus Morris, CNBC's, Morris, Eyton Locations: Europe, AllianceBernstein

☆ European Central Bank’s Knot says monetary policy to ease ‘gradually,' as markets brace for June rate cut
▼ + stars: | 2024-05-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Klaas Knot, president of De Nederlandsche Bank NV, on the sidelines of the Group of 20 (G-20) finance ministers and central bank governors meeting in Gandhinagar, India, on Tuesday, July 18, 2023. Bloomberg | Bloomberg | Getty ImagesLONDON — European Central Bank Governing Council member Klaas Knot said it would "soon" be time to ease monetary policy in the region, but cautioned that the process would need to be done slowly to keep inflation in check. "It can soon be appropriate to ease the currently restrictive monetary policy stance and gradually take our foot off the brake ... policy rates will slowly but gradually move into less restrictive levels," Knot, head of the central bank of the Netherlands, said at the Barclays-CEPR International Monetary Policy Forum in London Tuesday. In a Reuters poll of 82 economists this week, all said they expected a June cut. Knot, usually known for his more hawkish stance, said Tuesday there had been "clear disinflation" since the peak above 10% in late 2022, particularly in goods inflation.

Persons: Klaas Knot Organizations: De Nederlandsche Bank, Bloomberg, Getty, Central Bank Governing, Barclays, CEPR, Monetary, ECB, U.S . Federal Reserve, Bank of England, Reuters Locations: Gandhinagar, India, Netherlands, London

☆ Treasury yields dip ahead of consumer confidence and inflation data
▼ + stars: | 2024-05-28 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

U.S. Treasury yields were slightly lower early Tuesday at the start of a shortened trading week, as investors await fresh data releases on consumer confidence and inflation. The 10-year Treasury yield slipped 2 basis points to 4.449%, while the 2-year Treasury yield was down 2 basis points at 4.927%. Yields and prices move in opposite directions. One basis point equals 0.01%.

Organizations: Treasury

☆ If Trump Is Convicted, How Will Biden’s Team Go on the Attack?
▼ + stars: | 2024-05-28 | by ( Reid J. Epstein | Nicholas Nehamas | ) www.nytimes.com time to read: +1 min

Normally, seeing your presidential opponent convicted of a felony would be a cause for celebration. At the same time, many Democrats are aghast at the idea that Mr. Trump could become a felon and the Biden campaign would not do everything in its power to remind voters of that fact. This tension will define the Democratic reaction if a Manhattan jury indeed convicts Mr. Trump in the coming days, an outcome that could land like a thunderbolt for the nation’s news media and political class. On Tuesday, the Biden campaign flashed its hand, holding a news conference outside the Manhattan courthouse where Mr. Trump is standing trial that featured Robert De Niro and two former U.S. Capitol Police officers. The Trump campaign was quick to accuse Mr. Biden of pulling a political stunt.

Persons: Biden’s, Donald J, Trump, Biden, Robert De Niro, Mr Organizations: North Star, U.S . Capitol Police Locations: New York, Manhattan

Mr. De Niro said that Mr. Trump had engaged in a “coward’s violence” after the 2020 election. The news conference was the sort of thing the Trump campaign would have done from the beginning if the political situation were reversed. The Biden campaign has rarely discussed that case or the verdict against Mr. Trump. Mr. Trump has sought to tie together all four of his pending criminal cases and has argued baselessly that Mr. Biden is behind them all. Steven Cheung, a Trump campaign spokesman, said the Biden campaign was “making a political mockery” of the criminal case with its appearance.

Persons: Donald J, Biden’s, Biden, Robert De Niro, Harry Dunn, Michael Fanone, Trump, De Niro, ”, surrogates, Trump’s, —, Jean Carroll, Carroll, The Biden, “, Mr, “ We’re, ” Michael Tyler, Jason Miller, De, Steven Cheung, Karoline Leavitt Organizations: U.S . Capitol Police, Mr, Capitol Police, Biden Locations: Manhattan, Trump’s Manhattan, Georgia

After first ignoring former President Donald J. Trump’s criminal trial, then beginning to make sly insinuations about how he was “free on Wednesdays,” the court’s day off, President Biden’s campaign has jumped in with a stunt designed to emphasize the unprecedented situation of a major party’s presidential candidate awaiting a felony verdict. The Biden campaign on Tuesday held a news conference outside the Manhattan courthouse with Robert De Niro, the actor whose voice narrates the campaign’s latest ad, as well as Harry Dunn and Michael Fanone, two former U.S. Capitol Police officers who have attacked Mr. Trump over his role in the Capitol riot on Jan. 6, 2021. Mr. De Niro said that Mr. Trump had engaged in a “coward’s violence” after the 2020 election. “He directs the mob to do his dirty work for him,” he said. The news conference was the sort of thing the Trump campaign would have done from the beginning if the political situation were reversed.

Persons: Donald J, Biden’s, Biden, Robert De Niro, Harry Dunn, Michael Fanone, Trump, De Niro, ” Organizations: U.S . Capitol Police Locations: Manhattan

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