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☆ The Perils of the Fed’s Vast Bond Holdings
▼ + stars: | 2024-05-03 | by ( Jeff Sommer | More About Jeff Sommer | ) www.nytimes.com time to read: +2 min

But even after two years of quantitative tightening, the amount of bonds and securities that the Fed still retains is stupendous. Quantitative tightening is a perilous operation. Earlier attempts — notably, in 2019 — disrupted financial markets. The slow pace of quantitative tightening is partly responsible for the Fed’s inability to contribute to the national budget. That’s because the Fed has also raised interest rates, which move in the opposite direction of bond prices.

Persons: — Organizations: Fed, Treasury, Silicon Valley Bank Locations: United States

☆ Analysis: Why the Israel-Hamas war isn’t Biden’s Vietnam
▼ + stars: | 2024-05-03 | by ( Harry Enten | ) edition.cnn.com time to read: +5 min

CNN —Joe Biden’s Democratic base has been divided over the Israel-Hamas war. To some, including people within Biden’s own party, the public demonstrations against the war in Gaza remind them of the Vietnam War protests. A mere 2% answered with some version of the Israel-Hamas war (e.g., the Middle East conflict). An unpopular warThis is dramatically different from what we saw in 1968, when the Vietnam War forced President Lyndon Johnson to abandon his reelection bid. Only a small fraction of that polling decline can be attributed to Biden’s war response.

Persons: Joe Biden’s, Biden, That’s, Lyndon Johnson, it’s, Donald Trump, Trump, Biden’s Organizations: CNN, Joe Biden’s Democratic, NBC, Gallup, Republican, Trump, Black South, ABC, Quinnipiac Locations: Israel, Gaza, Vietnam, Africa’s, South Africa

☆ What’s on the far side of the moon? Here’s why scientists want to find out
▼ + stars: | 2024-05-03 | by ( Ashley Strickland | ) edition.cnn.com time to read: +9 min

“The far side of the moon is very different from the near side,” said Li Chunlai, China National Space Administration deputy chief designer. The Yutu-2 lunar rover took an image of the Chang'e-4 lunar probe on the far side of the moon on January 11, 2019. Far side mysteriesDespite years of orbital data and samples collected during six of the Apollo missions, scientists are still trying to answer key questions about the moon. Hector Retamal/AFP/Getty ImagesChang’e-6 is just one mission heading to the moon’s far side as NASA has plans to send robotic missions there as well. Cracking the lunar codeOne of the most fundamental questions that scientists have tried to answer is how the moon formed.

Persons: Von, hasn’t, ”, Li Chunlai, David Trone, Bill Nelson, ” Nelson, “ We’re, Pink Floyd, Renu Malhotra, Louise Foucar, we’ve, Noah Petro, Artemis III, “, ” Petro, Artemis, Malhotra, Brett Denevi, ” Denevi, Hector Retamal, Denevi, Aitken, “ it’s, CNN’s Wayne Chang Organizations: CNN, China National Space Administration, NASA, Louise Foucar Marshall Science Research, Planetary Sciences, University of Arizona, Apollo, Reconnaissance, Artemis, Soviet Union, Johns Hopkins, Getty Locations: China, Tucson, AFP, Hainan Province

☆ How to buy your first luxury watch
▼ + stars: | 2024-05-03 | by ( Christy Choi | ) edition.cnn.com time to read: +9 min

Learn the lingoJust like buying a car, there are some technical terms prospective watch buyers can benefit from knowing. Parts of the watchCrown: Small knob found on the side of the watch used to change the date and time. Automatic movement: A mechanical watch that does not need a battery to move, it relies on movement from the wearer to wind. Buy a watch for the right reasons and consider what you need from itDon’t get sucked into hype around a watch. See if the designer made any othersWhile on the lookout for a watch to wear to his wedding, Pang saw a six-figure Audemars Piguet watch.

Persons: you’ve, it’s, Patek Philippe, Cartier, Vacheron Constantin, Sotheby Asia’s, Joey Luk, Charles Frodsham, “, ”, Johnathan Chan, you’re, Helbert Tsang, Tim Stracke, don’t, Luk, Carlos Pang, Pang, Gerald Genta, Chan, … Organizations: CNN, Rolex, Horology, Facebook, IWC, ” Locations: haute, Hong Kong, Geneva

☆ Sexually Transmitted Infections Have Surged, and Age Is No Barrier
▼ + stars: | 2024-05-03 | by ( Catherine Pearson | ) www.nytimes.com time to read: +1 min

Amy is currently seeing a man she described as a “friend with benefits,” but it’s nothing she takes too seriously. What she does take seriously is talking to him — and every partner — about safe sex practices amid rising rates of sexually transmitted infections in seniors. “I’m very aware of it,” said Amy, who asked to use only her middle name to protect her privacy. “I require proof of negative testing before I become intimate with anyone.” She also insists on using a condom. Research suggests many older people are unaware of these risks, and that’s keeping them from adequate screening and practicing safer sex.

Persons: Amy, —, “, ” Organizations: Centers for Disease Control, Prevention, Research

☆ Restaurants are competing for frugal diners’ dollars
▼ + stars: | 2024-05-03 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

For some restaurants, it feels like a battle to get them to spend. Olive Garden-parent Darden Restaurants saw same-restaurant sales dip during its most recent quarter. Darden saw sales from households with incomes above $150,000 climb from the prior year. What to expect in Friday’s jobs reportThe US job market has been on a roll for the past three years. That’s about 25,000 more jobs per month than last year and 111,000 more per month than in 2019.

Persons: ”, Laxman Narasimhan, “, we’ve, Ian Borden, Ricardo Cardenas, Scott Sheffield, “ Mr, —, Matt Egan, Read, Alicia Wallace, ” Julia Pollak, ZipRecruiter Organizations: CNN Business, Bell, New York CNN, Starbucks, Darden, OPEC, Federal Trade Commission, Sheffield, Organization of, Petroleum, Saudi Arabia, Regulators, Pioneer Natural Resources, CNN, of Labor Statistics Locations: New York, China, Olive, American, Saudi, Sheffield, Texas, OPEC, Russia

☆ DJT stock: Truth Social keeps shrinking despite the Trump trial and looming election
▼ + stars: | 2024-05-03 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

Yet new data shows its main product — the conservative-friendly social network Truth Social — remains a very tiny player in its industry, and it’s getting even smaller. “If your entire social circle is on a social media platform, that’s a strong pull to sign up. ‘Meme stock’ argumentTrump recently received another 36 million shares of Trump Media as part of a bonus known as earnout shares. Including those new shares, Trump owns 114.75 million shares of Trump Media — a stake valued at $5.6 billion. Of course, Kennedy notes that there is a counter argument that Trump Media is not a typical social media stock, and so traditional metrics like growth and revenue don’t really matter.

Persons: Donald Trump, it’s, ”, Matthew Kennedy, Kennedy, “, Trump, Shannon Devine, ” Devine, Similarweb, Mark Zuckerberg’s Meta, Gettr, Tom Liu, Musk, ” Kennedy Organizations: New, New York CNN, Trump Media & Technology, Trump Media, CNN, Trump, Truth, Renaissance, Social, ” Trump Media, Elon Musk Locations: New York, Similarweb

CNN —For South Dakota Gov. A bipartisan group of members of Congress set up a Congressional Dog Lovers Caucus in a not so subtle dig to the South Dakota governor. Some Republicans came to her defense, like South Dakota Rep. As many questioned why she volunteered this story in her book, Noem said it demonstrates how she doesn’t run from the truth. As governor of South Dakota during the height of the Covid-19 pandemic, she resisted lockdowns.

Persons: Kristi Noem, –, Donald Trump’s, ”, Noem, Dusty Johnson, Dakota Sen, Mike Rounds, “, ” Noem, ” Trump, Stephen Colbert, Kim Jong, Emmanuel Macron, Kim, Nikki Haley, Haley, Ian Fury, ” Fury, ” Jesse Hunt, Trump, She’s, Corey Lewandowski, That’s, ” Nancy Pallozzi, Matt Gorman, Gorman, it’d Organizations: CNN, South Dakota Gov, Cricket, The Guardian, Caucus, South Dakota Rep, Fox News, Dakota Scout, US House Armed Services Committee, North Korean, Scout, Politico, South Carolina Gov, Republicans, Republican, Republican Governors Association, National Rifle Association, Trump, Trump loyalists, Mar, California GOP, Jefferson County Republicans, Jefferson County Republican Party Locations: Dakota, America, Texas, South Dakota, California, Denver, Jefferson

☆ What’s at stake in the Google antitrust case? Billions of dollars (and the way we use the internet)
▼ + stars: | 2024-05-03 | by ( Brian Fung | ) edition.cnn.com time to read: +5 min

CNN —Whenever you type a search into Apple’s Safari browser — say, on an iPhone — chances are it’s Google that returns the results. You can tell Safari to pick another search engine, but in practice most people tend to stick with Google by default. You might know that Google pays Apple enormous sums of money every year for that prime placement. Those eye-popping figures, newly unsealed this week, come from a blockbuster antitrust lawsuit against Google that’s just entered its closing stages. Nothing prevented Apple from choosing a different default search partner, Google contends.

Persons: —, Google that’s, Trump, Amit Mehta, Mehta, ” Mehta, John Schmidtlein, Google’s, Sherman, “, ” Schmidtlein Organizations: CNN, Google, Apple, Justice Department, DOJ, Microsoft

☆ Caitlin Clark plays in WNBA preseason debut after being drafted No. 1 by Indiana Fever
▼ + stars: | 2024-05-03 | by ( Homero De La Fuente | Ben Morse | ) edition.cnn.com time to read: +7 min

1 overall pick in the 2024 WNBA draft by the Indiana Fever, scored a game-high 21 points in the team’s preseason game Friday against the Dallas Wings. I think it’s a good kickoff to the WNBA season. I think the way we play, you know there’s some things we could’ve executed a little better. Ogunbowale finished with 19 points, including nine points in the fourth quarter, to lift the Wings to the preseason victory. Michael Conroy/APBoston – who averaged 14.5 points and 8.4 rebounds last season – said she hopes to improve on a promising debut WNBA campaign.

Persons: Caitlin Clark, Clark, Clark dazzles, wasn’t, ” Clark, Arike Ogunbowale, Ogunbowale, Jaelyn Brown, could’ve, TickPick, Caleb Williams, Clark merchanise, Michael Conroy, “ It’s, “, you’ve, –, Boston Organizations: CNN, WNBA, Indiana Fever, Dallas Wings, NCAA, Iowa Hawkeyes, College Park Center, NCAA Division I’s, Wings, Dallas, ”, Iowa, Indiana, Chicago Bears, Hawkeye, Fever, Boston, Eastern Conference, Boston –, Atlanta, Connecticut Sun, Mohegan Sun Locations: Arlington , Texas, Boston, Indianapolis, Indiana

☆ White House counts jobs report as a win, though inflation path – and interest rate cuts – far from certain ahead of November
▼ + stars: | 2024-05-03 | by ( Kayla Tausche | ) edition.cnn.com time to read: +4 min

Within the walls of the White House, it was seen the same way, stoking relief among officials, who said the data hewed near the team’s own targets for ideal job creation. In the wake of the latest jobs report, many market participants are now expecting the Federal Reserve to begin cutting interest rates in September, potentially easing a source of consternation for voters. Mark Zandi, an economist at Moody’s cited frequently by the White House, said certain psychological thresholds will remain important as the election approaches. In the meantime, White House officials continue to watch the data carefully and refrain from declaring victory until it bears out the trajectory the Biden administration wants to see. “The best measure of inflation is inflation,” the official told CNN.

Persons: Joe Biden, Ron Klain, “, Mark Zandi, Moody’s, ” Zandi, Biden “, ” Biden, Mandel Ngan, – Biden, Biden Organizations: CNN, Federal Reserve, White, Biden, Democratic, Reserve, Wilmington Convention, Getty Locations: Wilmington, Wilmington , North Carolina, AFP

☆ Columbia’s administrators failed crisis management 101
▼ + stars: | 2024-05-03 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

There’s the day to day admin, the glad-handing of donors, and, crucially, keeping internal fires from becoming public, violent conflagrations. That last one is a public relations lesson, one on which Columbia’s president might need a refresher. In doing so, Columbia’s leadership threw out the playbook for managing protests that universities have honed for decades to keep students safe. To be sure, Columbia’s president, Minouche Shafik, knows her job could be on the line. Meanwhile, thousands of students, parents and alumni are about to descend on Columbia’s campus for commencement, adding more pressure to remove protesters.

Persons: CNN Business ’, ” Sarah J, Jackson, “, ” Jackson, they’re, it’s, Nadia Abu, ” Abu, Haj, Minouche Shafik, UPenn Organizations: CNN Business, New York CNN — University, Columbia University, NYPD, University of Pennsylvania, ”, Trustees, comms, Haj, Columbia, New York, Harvard, Brown University, Wesleyan, University of Chicago Locations: New York, Columbia, Nadia Abu El, ” Abu El

☆ Hala Rharrit, US diplomat who quit over Biden administration’s Gaza policy, speaks out
▼ + stars: | 2024-05-03 | by ( Jennifer Hansler | ) edition.cnn.com time to read: +6 min

CNN —Hala Rharrit never expected that she would choose to leave her career as a US diplomat. About a year and a half ago, after mostly behind-the-scenes roles, Rharrit became an Arab language spokesperson for the State Department. But the US government’s policy on the war between Israel and Hamas in Gaza “unfortunately really, really changed that,” she said. Rharrit told CNN that she and her colleagues were “horrified” by the Hamas terrorist attacks on October 7, which triggered the war in Gaza. We just have not been able to say it.’”The State Department would not comment specifically on Rharrit’s case, citing personnel matters.

Persons: Hala Rharrit, Yemen —, Rharrit, “, ”, Josh Paul, Annelle, ” Rharrit, “ I’m, ‘ you’re, ’ ”, you’re, they’re, ‘, we’ve, Vedant Patel, ” “ You’ve Organizations: CNN, State Department, Biden, Israel, US, The State Department Locations: Yemen, Hong Kong, Qatar, South Africa, Arab, Israel, Gaza, United States, “

☆ Opinion: I’ve seen too many young journalists pay the ultimate price. It’s them I’ll be thinking of today
▼ + stars: | 2024-05-03 | by ( Opinion Jon Williams | ) edition.cnn.com time to read: +10 min

When a journalist is killed, it is not just their voice that is silenced: Press freedom is your freedom. Over 30 years ago, the United Nations recognized May 3 as World Press Freedom Day: a global reminder of the importance of press freedom and an opportunity to assess its health around the world. The Committee to Protect Journalists (CPJ) found that at least 100 journalists and media workers have been killed since we last marked World Press Freedom Day. Tragically, on this World Press Freedom Day, our work is needed more than ever. On this World Press Freedom Day, the fallen who gave their lives for the truth should serve as a reminder as to why press freedom is really your freedom.

Persons: Jon Williams, Rory Peck, Read, Jon Williams Rory Peck, Bayeux, ”, Simon Cumbers, Simon, Al, Louise, Cumbers, Johnny Green, Thomas Jefferson, ” Jefferson, it’s, Dom Phillips, Phillips, Aldeia Maloca, Bruno Pereira, Joao Laet, don’t Organizations: Rory Peck Trust, BBC News, ABC News, CNN, 1st Cavalry, Canadian, BBC, The Washington Post, United Nations, Protect Journalists, Getty, United, Twitter, Facebook Locations: Bayeux, Northern France, France, Omaha Beach, Europe, Nazi Germany, Normandy, Paris, “, Saudi Arabia, Al Qaeda, Saudi, Riyadh, Ireland, London, South, Indonesia, Turkey, India, Madrid, Irish, Kabul, Afghanistan, Gaza, Ukraine, Honduras, Sudan, Philippines, Brazil, Aldeia, Roraima, AFP, Britain, United States, Israel, Egypt

☆ Live Updates: The April Jobs Report
▼ + stars: | 2024-05-03 | by ( Lydia Depillis | ) www.nytimes.com time to read: +2 min

PinnedIt’s been a hot spring for the American labor market, and while the summer forecast is milder, it’s not clear when the cool-down will begin. The last three months have seen an upswing in job creation, bending what had been a bumpy but definite downtrend since the post-pandemic resurgence. Does that mean the labor market is taking off again without ever having touched down? Workers are quitting their jobs at even lower rates than they were in 2019. “You don’t have that cost of onboarding and starting over again if you can hold on to them.”

Persons: It’s, ”, Stephen Brown, Belinda Román, “ Organizations: Labor Department, North, Capital Economics, Institute for Supply Management, National Federation of Independent, Workers, St, Mary’s University Locations: North America, San Antonio

☆ 4 ingredients to level up your pasta recipes
▼ + stars: | 2024-05-03 | by ( Karla Walsh | ) edition.cnn.com time to read: +12 min

With “Anything’s Pastable: 81 Inventive Pasta Recipes for Saucy People,” “I hope that people realize that there’s so much more than they can and should be putting on pasta,” Pashman said. Substitute 3 tablespoons prepackaged toasted rice powder for the 1 teaspoon oil and ¼ cup rice and skip step 1. In a large heatproof bowl, combine the shallots, ¼ cup cilantro, ¼ cup mint, scallions, chili flakes and sugar. Heat the remaining ¼ cup oil in the reserved skillet over high heat until just starting to smoke. Recipe adapted from “Anything’s Pastable: 81 Inventive Pasta Recipes for Saucy People” by Dan Pashman.

Persons: Dan Pashman, ”, Pashman, “, Harper Collins, ” Pashman, Alla, they’re, Pepe Chili Crisp, He’s, e pepe, Gan Ma, Jing, Dan Liberti, Caesar, Skip, James Park, Chili Crisp, Dan Liberti Dan Pashman’s Larb, browning, Karla Walsh, William Morrow Organizations: CNN, ”, Saucy, Ritz Crackers, Ritz, Sporkful, HarperCollins Publishers Locations: Italy, African, America, Thai, Des Moines , Iowa

☆ Global trade and immigration on the line in Panama’s presidential vote
▼ + stars: | 2024-05-03 | by ( David Shortell | ) edition.cnn.com time to read: +5 min

Achieving Goals presidential candidate José Raúl Mulino speaks with reporters after meeting with members of the Electoral Observation Mission, in Panama City, Wednesday, May 1, 2024. The case of former President Ricardo Martinelli, who was disqualified from running by the courts because of a past corruption conviction, stands out. Once the favorite to win this year’s presidential race, Martinelli was disqualified from running by Panama’s electoral court in March because of the conviction and sentence. There are seven other presidential candidates, including current Vice-President José Gabriel Carrizo, former President Martín Torrijos, and Rómulo Roux, another former minister under Martinelli. Martinelli has thrown his support behind Mulino, even releasing campaign videos from inside the Nicaraguan embassy.

Persons: Daniel Zovatto, El Nino, Fitch, ”, José Raúl, José Raúl Mulino, Matias Delacroix, Mulino, Panama that’s, Ricardo Martinelli, Martinelli, José Gabriel Carrizo, Martín Torrijos, Rómulo Roux, “ Organizations: CNN, Central, Latin America, Wilson, Americas Society, Panamanian, Gallup, Nicaraguan Locations: Panama, Central American, Panama City, United States, Venezuela, Panamanian, Colombia, Mulino, Americas, Nicaragua’s, Nicaraguan

☆ Markets jump higher after softer-than-expected jobs report fuels hopes of an earlier rate cut
▼ + stars: | 2024-05-03 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

The unemployment rate ticked higher as well, to 3.9% from 3.8% the month before. That’s because the Federal Reserve is working to slow the economy by hiking interest rates — the only tool it has to fight inflation. A still-robust job market means the central bank could continue to keep rates elevated without fear of sending the economy into a recession. If the labor market weakens, the Fed is more likely to consider a rate cut. “We’re also prepared to respond to an unexpected weakening in the labor market,” he said.

Persons: Dow, “, ”, Matt Peron, Janus Henderson, They’re, Jerome Powell, “ We’re Organizations: New, New York CNN, Nasdaq, of Labor Statistics, Wall, Federal Reserve, Janus, Janus Henderson Investors, ”, Treasury, Apple Locations: New York

☆ Who is Hope Hicks, longtime Trump aide who is testifying in NY hush money case?
▼ + stars: | 2024-05-03 | by ( Michelle Shen | ) edition.cnn.com time to read: +8 min

Washington CNN —Hope Hicks, once a longtime trusted aide in Donald Trump’s inner circle, is testifying Friday in the New York hush money trial after being subpoenaed. As CNN reported previously, Hicks appeared before the grand jury last year before Trump was indicted, as did Trump counselor Kellyanne Conway. According to reporting from “The Divider: Trump in the White House, 2017-2021,” Trump is quoted as saying, “Well, Hope doesn’t believe in me.”“No, I don’t,” Hicks replied, according to the book. “Nobody’s convinced me otherwise.”In October 2022, Hicks testified before the House select committee investigating the January 6, 2021, Capitol riot. In a video clip played by the committee, Hicks testified about a conversation she had with Trump after the election, regarding his baseless claims of election fraud.

Persons: Washington CNN — Hope Hicks, Donald Trump’s, “, ” Hicks, Hicks, Trump, Kellyanne Conway, Cohen, Stormy Daniels, Rob Porter, Trump’s, Porter, ” Trump, Hope doesn’t, ”, “ Nobody’s, Trump “, ’ ” Hicks, Daniels, ” Cohen, Prosecutors, upended, –, David Pecker, Dylan Howard, Stephanie Clifford, I’ve, Sheila Jackson Lee, Jerry Nadler, Nadler, ’ Organizations: Washington CNN, CNN, Trump, Trump Organization, White, House Intelligence, Fox News, Trump White, House, Capitol, Politico, US, of, American Media Inc, AMI, National Enquirer, FBI, ” Prosecutors, Democratic Rep, New York Democrat Locations: New York, Southern, of New York, Trump’s

☆ Japanese yen: How the currency’s record slump is squeezing the Japanese
▼ + stars: | 2024-05-03 | by ( Juliana Liu | ) edition.cnn.com time to read: +7 min

Higher interest rates in the United States and other countries mean investors can make bigger returns on investments there than they can in Japan. This encourages carry trades, in which investors borrow money in yen to invest it in higher-yielding assets priced in other currencies. That weakens the Japanese currency. A Big Mac costs 50% more in the next cheapest G10 currency, the New Zealand dollar, than it does in yen, he added. … and lots of drawbacksBut the falling yen has caused much pain at home and not just for small businesses like Japan Fraise.

Persons: hasn’t, Hiroko Ishikawa, “ It’s, ” Ishikawa, “, we’re, We’re, Himari Semans, That’s, ” Nigel Green, Kit Juckes, Warren Buffett, ” Sean Callow, ”, Sato Hitomi, Semans, I’ve, —, Laura He, Chris Lau Organizations: Tokyo CNN, US, Reserve, CNN, Nikkei, Bank of Japan, deVere, greenback, Labor, Societe Generale, New Zealand, Japan’s National Tourism Organization, Tokyo’s Locations: Hong Kong, Tokyo, Japan, United States, Sydney, Hawaii

☆ Valerie Bertinelli says Eddie Van Halen was ‘not a soulmate’
▼ + stars: | 2024-05-03 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —Valerie Bertinelli is getting real about her relationship with late rocker Eddie Van Halen. The actress and culinary TV show host reflected on their time together in a video shared on Instagram. She said watching their son, Wolfgang Van Halen, in an episode of “Behind the Music” was “not easy.”“I’d stopped it many times because it was just too brutal to watch for many reasons. I made a lot of mistakes.”Bertinelli had a tumultuous marriage to Van Halen from 1981 to 2007, in part due to his substance abuse problems. Van Halen was married to actress Janie Liszewski from 2009 until his death.

Persons: Valerie Bertinelli, Eddie Van Halen, Wolfgang Van Halen, “ I’d, ”, ” Bertinelli, Van Halen, Wolfie, Tom Vitale, Mike Goodnough, Janie Liszewski Organizations: CNN

☆ Oil Companies Expand Offshore Drilling, Pointing to Energy Needs
▼ + stars: | 2024-05-03 | by ( Ivan Penn | More About Ivan Penn | ) www.nytimes.com time to read: +1 min

About 80 miles southeast of Louisiana’s coast, 100,000 metric tons of steel floats in the Gulf of Mexico, an emblem of the hopes of oil and gas companies. This hulk of metal, a deepwater platform called Appomattox and owned by Shell, collects the oil and gas that rigs tap from reservoirs thousands of feet below the seafloor. But oil companies like Shell are betting that the world will need oil and gas for decades to come. To serve that demand, they are expanding offshore oil and gas drilling into deeper and deeper waters, especially here in the Gulf of Mexico. Offshore production, oil executives argue, is not only crucial to power cars, trucks and power plants but also better for the planet than drilling on land.

Organizations: Shell Locations: Louisiana’s, Gulf of Mexico, Appomattox

☆ Boeing has lost $32 billion since 2019, with no end in sight. How long can it keep losing money?
▼ + stars: | 2024-05-03 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Few companies have lost more than the $32 billion that Boeing has lost in the last five years. There’s a lot of work in front of us, but I’m proud of our team and remain fully confident in our future.”It’s not that Boeing’s problems aren’t serious. And the massive losses have resulted in the company’s debt level soaring, from $13 billion at the end of 2018 to $48 billion now. Even if customers could get their hands on Airbus jets right away, there are huge costs for Boeing customers to operate both their existing Boeing jets and a fleet of comparable Airbus planes at the same time. So after Alaska Air purchased Virgin America in 2016, it got rid of the Airbus jets Virgin was flying and became an all-Boeing airline.

Persons: “, ”, Richard Aboulafia, Ron Epstein, Dave Calhoun, ” It’s, Max, Uber, Brian West, “ We’re, Ben Minicucci, Calhoun, Epstein Organizations: New, New York CNN, Boeing, Bank of America, Alaska, Alaska Airlines Boeing, Max, Carnival Corp, Airbus, Airline, Alaska Air, Virgin America, Virgin, year’s, GM Locations: New York, it’s

☆ AI engineers report burnout, rushed rollouts as 'rat race' to stay competitive hits tech industry
▼ + stars: | 2024-05-03 | by ( Hayden Field | ) www.cnbc.com time to read: +16 min

The AI engineer bailed on his friends, who had traveled from the East Coast to the Seattle area. watch nowThis is the dark underbelly of the generative AI gold rush. Last year marked the beginning of the generative AI boom, following the debut of OpenAI's ChatGPT near the end of 2022. Justin Sullivan | Getty ImagesAn AI engineer at Microsoft said the company is engaged in an "AI rat race." The Microsoft AI engineer said a lot of tasks are about "trying to create AI hype" with no practical use.

Persons: Sebastien Bozon, Jensen Huang, Tech's, Amy Hood, Mark Zuckerberg, Zuckerberg, Andy Jassy, Jassy, they're, Eric Gu, “, Gu, Satya Nadella, Sam Altman, Justin Sullivan, there's, Morry, Kolman, doesn't, Sundar Pichai, Bard, There's, That's, beholden, Ayodele Odubela, ", it’s, Adam Selipsky, Anthropic, Dario Amodei, Noah Berger, Odubela, Gemini Organizations: Google, Apple, Facebook, Microsoft, AFP, Getty, Amazon, CNBC, Big Tech, Nvidia, Google . Engineers, Tech, Vision, Cloud Next, Web, Amazon Web Locations: Mulhouse, France, East Coast, Seattle, ChatGPT, San Francisco, Vegas, Las Vegas, German

☆ Fact check: Trump makes false courthouse claims about bail and his campaign schedule
▼ + stars: | 2024-05-03 | by ( Daniel Dale | Kristen Holmes | ) edition.cnn.com time to read: +4 min

Washington CNN —Continuing his barrage of courthouse deception, former President Donald Trump made more false claims about his Manhattan trial on Friday. Trump’s false claim about bailTrump said: “New York City is a violent city; it’s become violent with the cashless bail. I’m the only one who has to put up bail.”Facts First: Trump’s claim is false. Trump’s assertion that New York City is “a violent city” is subjective. Trump’s false claim about his scheduleTrump continued Friday to complain that the New York trial is preventing him from being on the campaign trail.

Persons: Donald Trump, Trump, —, it’s, “ Organizations: Washington CNN —, “, New, Republican, Miami, Prix, Georgia, North Carolina, Trump Locations: York, Fulton County , Georgia, New York, Washington , DC, Florida, Georgia, Ohio, Wisconsin, Michigan, Manhattan, Bedminster , New Jersey

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