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☆ Revolut secures new $45 billion valuation following secondary share sale with major investors as it targets a potential IPO
▼ + stars: | 2024-08-16 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Read previewRevolut has secured a $45 million valuation via a secondary share sale, despite a wider slump in fintech valuations. The London-based neo-bank, which recently secured a banking license in the UK, has signed agreements with institutional investors over a share sale that significantly boosts the company's valuation. That round came at the height of the tech market's COVID-19 boom, and Revolut has not raised primary capital from investors since. This secondary deal allows employees to profit from their stakes in the company and also cements the fintech as Europe's most valuable tech startup ahead of a prospective IPO. Revolut has 45 million customers and offers bank accounts, savings options, and trading in stocks and cryptocurrencies.

Persons: —, Revolut, We're, Nik Storonsky, SoftBank, Matt Cooper, Revulot, Cooper, Starling Organizations: Service, D1 Capital Partners, Tiger, Business, Prudential, Authority, Financial Times Locations: London, Europe

☆ AI can enhance human expertise and worker well-being, Clear Capital's EVP of strategy and growth says
▼ + stars: | 2024-08-15 | by ( Julia Hood | ) www.businessinsider.com time to read: +7 min

Kenon Chen, a member of BI's Workforce Innovation board, is Clear Capital's strategy and growth EVP. This article is part of "Workforce Innovation," a series exploring the forces shaping enterprise transformation. AdvertisementAs a participant in BI's Workforce Innovation board, he's hoping to talk about how to surface the positive outcomes of AI. Why is the topic of workforce innovation a priority now? What are some concrete examples of how you're integrating AI innovation into the workforce?

Persons: Kenon Chen, —, Chen, appraisers, It's, it's Organizations: Service, Clear, United Wholesale Mortgage

☆ Late-Summer Travel Plans? You Might Want to Put On a Mask.
▼ + stars: | 2024-08-14 | by ( Ceylan Yeğinsu | Dani Blum | ) www.nytimes.com time to read: +1 min

Yet throughout the United States, Covid-19 is currently circulating at very high levels. Since the end of the mandate, and as travel has returned to or surpassed prepandemic levels, most travelers have abandoned preventive measures, particularly masks. Here’s what you need to know about masks and your travel plans. The number of reported cases appears to be climbing both in the United States and abroad. In the United States, there are “very high” levels of the virus in wastewater samples nationwide, according to the Centers for Disease Control and Prevention.

Organizations: Centers for Disease Control, World Health Organization Locations: United States

☆ Alaska Airlines flight attendants reject new contract, union says there's 'more work to do'
▼ + stars: | 2024-08-14 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

An Alaska Airlines Boeing 737-900ER aircraft on the tarmac at Seattle-Tacoma International Airport (SEA) in Seattle, Washington, US, on Monday, Jan. 22, 2024. Alaska Airlines flight attendants rejected a new labor deal that would have come with immediate raises averaging more than 24%, their union said Wednesday, setting both sides up for more talks as a merger with Hawaiian Airlines looms. The airline said in a statement: "We remain committed to reaching an agreement that reflects the critical role of our flight attendants and is good for Alaska's long-term success." American Airlines reached a deal with its flight attendants union last month, and members are voting on whether to ratify it. United Airlines is still negotiating a new contract with its flight attendants' union.

Organizations: Alaska Airlines Boeing, Tacoma International Airport, Alaska Airlines, Hawaiian Airlines, Association of Flight, Pilots, American Airlines, United Airlines Locations: Seattle, Seattle , Washington, US, United

☆ US Open wildcards: Former champions Dominic Thiem, Naomi Osaka, Stan Wawrinka headline
▼ + stars: | 2024-08-14 | by ( James Hansen | ) www.nytimes.com time to read: +2 min

The US Open has announced its singles wildcards for 2024, led by former champions Dominic Thiem, Naomi Osaka, Stan Wawrinka, and Bianca Andreescu. Thiem won the tournament in 2020, beating Germany’s Alexander Zverev in the eerie surrounds of an empty Arthur Ashe stadium during the Covid-19 pandemic. Wawrinka, who beat Novak Djokovic to win the 2016 edition, is currently ranked No 141. Osaka is currently world No 90, with Andreescu world No 166. GO DEEPER Naomi Osaka, The Comeback Interview: A tale of pregnancy, fear and a ballerinaOf the home hopes, Tien and Anisimova stand out.

Persons: Dominic Thiem, Naomi Osaka, Stan Wawrinka, Bianca Andreescu, Chris Eubanks, Zachary Svajda, Matthew Forbes, McCartney Kessler, Amanda Anisimova, Alexa Noel, Iva Jovic, Chloe Paquet, Taylah Preston, Alexandre Muller, Tristan Schoolkate, Thiem, Germany’s Alexander Zverev, Arthur Ashe, Wawrinka, Novak Djokovic, Serena Williams, Williams, Tien, Jessica Pegula, Billie Jean King, Coco Gauff Organizations: Thiem, Japan’s Osaka, Canada’s, French, Challenger, ITF, WTA, Billie Jean King National Tennis Centre Locations: Vienna, Osaka, Tien, Toronto, Flushing Meadows

☆ The Great Detachment is looming for employees, experts warn — especially for Gen Z
▼ + stars: | 2024-08-14 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +8 min

And Gen Zers, as the cohort associated with "quiet quitting" and a job being just a job, are leading the charge. "And then there's about 17% who are actively disengaged, they are unhappy. According to Gallup data this year, millennials and Gen Zers are seeing the biggest drop in engagement. Millennials have dropped seven points, from 39% to 32% being actively engaged, while actively engaged Gen Zers have dropped from 40% to 35%. The percentage of actively disengaged millennials has risen from 12% to 17%, while for Zoomers, it has increased from 13% to 14%.

Persons: Zers, Richard Wahlquist, It's, We've, Wahlquist, millennials, Millennials, Leena Rinne, Rinne, they're, I'm, hasn't, Khyati Sundaram, Sundaram, Gen Zs, Zs, Skillsoft, — Organizations: Service, Business, American Staffing Association, Gallup, Skillsoft, BI

☆ Video game industry faces sluggish growth in 2024 amid weak console sales, research firm says
▼ + stars: | 2024-08-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Analysts are expecting Nintendo to release a successor to its hit Switch console in its fiscal year 2025. The global video game market is set for sluggish annual growth this year amid weak sales of gaming consoles, according to a new report from market research firm Newzoo. In a blog post published Tuesday, Newzoo said the games industry is set to grow 2.1% year over year to an estimated $187.7 billion. That is slightly down from an earlier January forecast in which the firm said it expects the video game industry to grow 2.8% to $189.3 billion in 2024. Though it's a step up from last year's growth rate of 0.6%, the games industry isn't experiencing the same growth rates it saw in the heady days of the Covid-19 pandemic.

Persons: Newzoo, it's Organizations: Nintendo, U.S Locations: U.S, China

☆ Rose Harvey: Team GB runner says she completed Olympic marathon with broken leg
▼ + stars: | 2024-08-14 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —Team GB runner Rose Harvey completed the women’s marathon at the 2024 Paris Olympic Games despite having a broken leg, she said on social media. And according to the GB runner, scans after the race revealed Harvey had suffered a stress fracture to her femur. “But despite that most of my race goals having slipped away, there was still a tiny part of my Olympic dream that I could hang onto – and that was finishing the Olympic marathon. It was heartbreaking.”Harvey completed the Olympic women's marathon 78th overall with a time of 2:51:03. She had been selected to run for Team GB at the Paris Games after completing the 2023 Chicago Marathon in a time of 2:23:21, just 26 seconds off Hassan’s Olympic record time in Paris.

Persons: Rose Harvey, Harvey, ” Harvey, Harvey “, ”, Sifan Hassan, “, Cameron Spencer, Phil Kissi, she’ll, I’ll, It’s Organizations: CNN — Team, Olympic Games, Pancras International, British, Getty, Team GB, Paris Games Locations: St, London, Battersea Park, Paris, “

☆ I was sick of spending my travel budget on weddings, so now I turn every invitation into a vacation
▼ + stars: | 2024-08-13 | by ( Anna Staropoli | ) www.businessinsider.com time to read: +4 min

To maximize pricey flights, I've leveraged weddings to explore places like West Palm Beach, Cleveland, and even my own city. Once in Sandusky, I maintained that eagerness, visiting Lake Erie, trying Culver's custard, and exploring Marblehead Lighthouse. To manage expectations, I've learned to treat each wedding trip as an introduction to a place. A few years ago, I planned my first post-wedding trip to Miami after a friend's West Palm Beach ceremony. Beyond visiting the Norton Museum of Art, I saw little of West Palm.

Persons: —, I've, Anna Staropoli, I'd, I'm, could've Organizations: Service, Business, Miami, Norton Museum of Art, Chicago Botanic Garden Locations: West Palm Beach , Cleveland, Ohio, Anna Staropoli Sandusky , Ohio, Cleveland, Sandusky, Lake Erie, Marblehead, Miami, Palm, West Palm, Canandaigua, Lake Canandaigua, Rochester , New York, Chicago, Shore, Lake Forest , Illinois

☆ Fact check: Trump made at least 20 false claims in his conversation with Elon Musk
▼ + stars: | 2024-08-13 | by ( Daniel Dale | ) edition.cnn.com time to read: +34 min

Here is a fact check:CrimeTrump claimed, “Our crime rate’s going through the roof.”Facts First: Trump’s claim is false. Facts First: Trump did express uncertainty about the number, but his “like 60 million or something” claim is false. They take ‘em out, and they bring them to the United States.”Facts First: Trump’s claim is baseless. He said, “With Ukraine, so we’re in for $250 billion and they’re in for about $71 billion.”Facts First: Trump’s claim is false. But Trump’s claim that the US has committed or provided far more aid than Europe is not true regardless.

Persons: Donald Trump, –, Elon Musk, Kamala Harris, Trump, Jeff Asher, ” Anna Harvey, “, we’ve, ”, Biden, Gary Griggs, Griggs, Harris, Harris “, ” Trump, wasn’t, Alejandro Mayorkas, Breitbart, ” Roberto Briceño, Venezuela’s, León, Joe Biden, ” Michelle Mittelstadt, can’t, Steven Cheung, Congo ’ Trump, Patrick Muyaya Katembwe, ” Serge Mombouli, Barack Obama’s, Obama, Obama’s, We’ll, Ukraine Trump, Europe Trump, Trump’s, Mike Pompeo, ” Pompeo, China, you’re, ‘, Iran haven’t, ” Matt Smith, Biden’s, Smith, Ali Vaez, Ronald Reagan’s, Barack Obama, George W, they’d, Scott Gottlieb, ” Gottlieb, General Merrick Garland, Musk, Alvin Bragg’s, Matthew Colangelo, Colangelo, Bragg, CNN’s Tami Luhby, William Montes Organizations: Washington CNN, Republican, Democratic, Public, New York University, CNN, Major Cities Chiefs Association, Biden, Global, Trump, NASA, Meteorological Organization, University of California, Oceanic, Fox News, The New York, White, Homeland, Central, “, Border, Venezuelan, of, Patrol, Republicans, Migration, Institute, Breitbart, Congo, PAC, Central America Trump, Obama, Customs Enforcement, Policy Institute, ICE, El Salvador, Electoral, Ukraine, Kiel Institute, European Union, European Automobile Manufacturers ’ Association, State, Americas, Crisis, Federal, Defense Department, Food and Drug Administration, FDA, Justice Department, New Locations: Trump’s, Santa Cruz, Gulf of Mexico, Florida, Mar, El Salvador, Guatemala, Honduras, United States, Mexico, Venezuela, “ Venezuela, Congo, Democratic Republic of Congo, Republic of Congo, Africa, Republic of, Washington, Europe, Ukraine, Germany, Kiel, ”, EU, Iran, Lebanon, Israel, China, that’s, Kpler, Malaysia, Afghanistan, Asia, Fulton County , Georgia, Manhattan, New York

☆ A Google software engineer who was initially rejected gives 3 pieces of advice for landing a coding job
▼ + stars: | 2024-08-13 | by ( Jaures Yip | ) www.businessinsider.com time to read: +8 min

Read previewWhen Paden Gayle went into his first real round of tech interviews in 2020, he "failed horribly." Gayle interviewed for full-time software engineering roles for X, formerly Twitter, and Bloomberg, as well as an apprenticeship program for Google. This year, though, Gayle finally got his Google redemption and received an offer for an L4 software engineering role. Here's some of his biggest advice for landing a coding gig at a tech giant like Google. For his Google interview, Gayle said that when he first received his questions, he had no idea where to start.

Persons: —, Paden Gayle, I'd, Gayle, you've, That's, It's, that's, it's, I'm, Karen, Grace Hopper Organizations: Service, Twitter, Bloomberg, Google, Business, LinkedIn, Grace, Grace Hopper Program, Tech

☆ Paris Olympics ratings soar 82% over Tokyo Games, delivering big boost to NBC’s Peacock streamer
▼ + stars: | 2024-08-13 | by ( Liam Reilly | ) edition.cnn.com time to read: +5 min

The 2024 Summer Olympics in Paris drew a combined average of 30.6 million viewers across NBCU’s constellation of platforms, marking an 82% jump in viewership compared to the Tokyo Games and making the Games the most-streamed Olympics of all time. The network’s Spanish-language broadcast on Telemundo also saw a 26% jump over the same period during the Tokyo Games three years ago. “The Olympics reestablished its unique power to reassemble the American media audience,” said Gary Zenkel, the NBC Olympics president. “NBC Nightly News” anchored by Lester Holt averaged 7.6 million viewers during the two-week period, and the “Today” show averaged 3.1 million viewers, the network said. Last month, Comcast reported the streamer had lost 500,000 subscribers in the second quarter, falling to 33 million total, well below Netflix’s 277 million subscribers and Disney’s 153.6 million.

Persons: ”, Peacock, Gary Zenkel, “, NBCU, Al Michael’s, NBCUniversal, Mark Lazarus, Lester Holt Organizations: New, New York CNN, Comcast, Tokyo Games, Telemundo, Olympics, NBC, America, USA, US, France, Netflix, Amazon Prime, Paris Games, Tokyo, Games, Warner Bros, NBA, Paris Olympics, NBCUniversal Media, “ Parks, Studios Locations: New York, Paris, “ Paris

☆ People leave New Zealand in record numbers as economy bites
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: +1 min

People are leaving New Zealand in record numbers as unemployment rises, interest rates remain high and economic growth is anemic, government statistics show. Data released by Statistics New Zealand on Tuesday showed that 131,200 people departed New Zealand in the year ended June 2024, provisionally the highest on record for an annual period. While net migration, the number of those arriving minus those leaving, remains at high levels, economists also expect this to wane as the number of foreign nationals wanting to move to New Zealand falls due to the softer economy. The data showed of those departing 80,174 were citizens, which was almost double the numbers seen leaving prior to the Covid-19 pandemic. They're always, always looking for people in my profession," said Allen, who works in dental administration.

Persons: Merrily Allen, They're, Allen Organizations: New Zealand, Statistics New Zealand Locations: New, New Zealand, Australia, Hobart, Tasmania

☆ HelloFresh shares pop 11% as meal kit giant beats profit estimates
▼ + stars: | 2024-08-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Source: HelloFreshShares of German meal kit firm HelloFresh jumped on Tuesday after the company reported a better-than-expected profit in the second quarter and said its ready-to-eat meals segment saw rapid growth. HelloFresh shares climbed as much as 20% during morning trade, but had pared gains to rise 11% to 5.90 euros ($6.44) as of 6:19 a.m. The figure was down 23.7% from the same period last year, but exceeded the 123 million euros forecast of analysts surveyed by LSEG. Revenues at the firm increased by 1.7% in the quarter, to 1.95 billion euros, HelloFresh said. In March, HelloFresh shares plunged as much 42% suffering their worst-ever session to date after the company disappointed investors with its 2024 annual earnings outlook.

Persons: HelloFresh Organizations: LSEG, UBS Locations: North America

☆ Airbnb's struggles go beyond people spending less. They're losing some travelers to hotels.
▼ + stars: | 2024-08-13 | by ( Dan Latu | ) www.businessinsider.com time to read: +7 min

But Brown told Business Insider that more recent disappointing experiences with short-term rentals have led to a change of heart. This story is available exclusively to Business Insider subscribers. It's a far cry from the record-setting demand Airbnb saw immediately following COVID-19 lockdowns, when travelers craved private homes and acres of outdoor space. Hotels are winning over travelers in some areasDemand for Airbnbs is stalling or slipping in some categories where hotels are competitive, according to AirDNA. "I'm going to go check hotels and see if this is actually the best value," he told Business Insider.

Persons: —, Duane Brown, Brown, there's, Airbnb, AirDNA, Brian Chesky, Chesky, Jamie Lane, Lane, Adam Burgh, Burgh, might've Organizations: Service, Business, Daytona, Seattle, Marriott Locations: London, Toronto, Budapest, Florida, Sarasota, Rio de Janeiro, South America, Airbnbs, Whidbey, Seattle

☆ Whoever can finally coin an effective economic message could win the White House
▼ + stars: | 2024-08-13 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —Voters keep telling pollsters that their economic insecurities are the biggest issue in the 2024 election. Former President Donald Trump will try to make a case against Kamala Harris’ role in the Biden economy on Wednesday in North Carolina. President Joe Biden dedicated his domestic agenda to restoring economic fairness and sought to revive manufacturing and repair the country’s crumbling infrastructure. As the effective incumbent in this race, Harris is vulnerable to any sudden shifts in the economic outlook. But with Trump seeking an opening to define her negatively — especially on the economy — Harris must act fast.

Persons: Donald Trump, Kamala Harris, Biden, Trump, Joe Biden, Harris, Kamala, He’s, Price, “, Biden Administration’s, ”, —, ” Harris, ” Trump, hasn’t, “ You’ve, Scott Jennings, Anderson Cooper, “ You’re, Brad Todd, CNN’s Kasie, he’s, ” Todd, Kevin McCarthy, Elon Musk, Sen, JD Vance, Harris ’, Bill Clinton, Barack Obama, Clinton, Obama, Obama –, –, — Harris, Tim Walz, She’s Organizations: CNN — Voters, Trump, Home Depot, Republican, Democratic, Biden, CNN, Fox News, Air Force, Democratic National Convention, NPR, PBS, Marist, New York Times, Siena College, Minnesota Gov, pharma Locations: North Carolina, Asheville , North Carolina, Maryland, Raleigh, Ohio, Chicago, Nevada, Phoenix, California, States, Pennsylvania, Michigan, Wisconsin

It’s hard to condense a two-week period as jam-packed with memorable moments as these incredible Paris Olympics, but this is our best attempt. Bronze medalist Noah Lyles of Team United States reacts after competing in the Men's 200m Final on day thirteen of the Olympic Games Paris 2024 at Stade de France. Athletes dive into the Seine river to start the swimming stage of the men's individual triathlon at the Paris 2024 Olympic Games in central Paris on July 31, 2024. But Paris 2024 organizers insisted the water quality in the Seine was at a “very good” level on the morning of the individual triathlons. US' Cole Hocker crosses the finish line to win the men's 1500m final of the athletics event ahead of US' Yared Nuguse at the Paris 2024 Olympic Games.

Persons: Paris CNN —, Simone Biles, Biles, CNN Sport’s Coy Wire, ” Biles, “, ”, Imane Khelif, Khelif, Angela Carini, Carini, Algeria's Imane Khelif, Peter Cziborra, Reuters Peter Cziborra, Mark Adams, Khelif “, I’m, “ I’ve, Nabil Boudi, Katie Ledecky, Jenny Thompson, Ledecky, Katie Ledecky basks, CNN “, Philippe Katerine, Dionysus, Katerine, we’d, ” Katerine, Noah Lyles ’, Paris Noah Lyles, Kishane Thompson, Noah Lyles, Richard Heathcote, Justin Gatlin, Lyles, Botswana’s, Tebogo, Kenneth Bednarek, Anne, Christine Poujoulat, Léon Marchand, Leon Marchand, Quinn Rooney, Bob Bowman, Michael Phelps, Marchand, Yusuf Dikec, Ilayda, Cagla Gurdogan, Yusuf Dikeç, Dikeç, Turkey’s, Şevval Ilayda, Mondo Duplantis, Korea’s Kim Ye, Gabriel Medina, Kanoa Igarashi, Medina, Jerome Brouillet, Brazil's Gabriel Medina, Novak Djokovic, Djokovic outdueled Spain’s Carlos Alcaraz, Roland Garros, Djokovic, Rafael Nadal, Andre Agassi, Steffi Graf, Serena Williams, Carlos Alcaraz, Matthew Stockman, “ I’m, Sydney Mclaughlin, Tara Davis, Ryan Crouser, Cole Hocker, ANTONIN THUILLIER, —, Armand “ Mondo, Duplantis, USA’s Sam Kendricks, Karalis, Amanda Davies Organizations: Paris CNN, Paris, Olympic Games, Tokyo, Paris Olympics, CNN, CNN Sport’s, Reuters, International Olympic Committee, Olympic, Games, CNN Sport, “, Catholic, French Catholic Church, Paris Games, Stade de France, Team United, Getty, USA, Team USA, National Olympic Committees, Gold, Team France, Paris La Defense, Défense Arena, Tokyo Olympics, Agence France, Presse, Team Serbia, Spain, Woodhall Locations: France, Paris, Algerian, Los Angeles, French, Gaza, Ukraine, “, Jamaica, Athens, American, Lyles, Seine, AFP, Belgium, Switzerland, Nanterre, Turkish, Ankara, Turkey, Tahiti, Teahupo'o, Serbia, Tokyo, Swedish

☆ People making $200,000 or more are flocking to these 10 states: Florida is No. 1
▼ + stars: | 2024-08-12 | by ( Jade Thomas | ) www.cnbc.com time to read: +2 min

Florida had the biggest net gain of high-earning households, according to a recent SmartAsset study . Using $200,000 of adjusted gross income as a threshold, the study examined the number of high-income households moving into and out of each state to determine the net inflow. More high-income households have left California and New York than moved in, but some states saw the opposite. "I would say that's a little unique, that these smaller-population states are really pulling their weight in attracting or pulling above their weight in attracting high-earning households," DeJohn says. Here are the states that saw the biggest net inflow of high-earning households:

Persons: SmartAsset, Jaclyn DeJohn, SmartAsset's, DeJohn, David Tinsley, Charlie Dougherty, Dougherty, There's Organizations: New Hampshire —, Bank of America Institute, Wells, Wells Fargo Economics Group Locations: North, South Carolina, Arizona . Florida, California, New York, Florida , Texas , Tennessee , Nevada, New Hampshire, Southern, Wells Fargo, Texas, Florida, Area, Los Angeles, Portland, Seattle, Austin, , Texas, United States, Tinsley

☆ 59% of Americans wrongly think the U.S. is in a recession, report finds
▼ + stars: | 2024-08-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Officially, the National Bureau of Economic Research defines a recession as "a significant decline in economic activity that is spread across the economy and lasts more than a few months." The last time that happened was early in 2020, when the economy came to an abrupt halt. Economists have wrestled with the growing disconnect between how the economy is doing and how people feel about their financial standing. We're in a 'vibecession'We're in a "vibecession," Joyce Chang, JPMorgan's chair of global research, said at the CNBC Financial Advisor Summit in May. "Everything looks great but when you look beneath the surface, the disparity between the wealthy and nonwealthy is widening dramatically."

Persons: Gene Goldman, Vishal Kapoor, Joyce Chang, JPMorgan's, that's, Chang, Goldman Organizations: Cetera Financial, National Bureau of Economic Research, CNBC, Summit Locations: El Segundo , California

☆ New study links early childhood tablet use to anger outbursts
▼ + stars: | 2024-08-12 | by ( Katia Hetter | ) edition.cnn.com time to read: +9 min

One paper published just this year sheds some light as to why tablet use could be related to anger outbursts. This is in the context of near-universal use of social media, with up to 95% of kids ages 13 to 17 reporting using social media. American teens report spending a shocking amount of time — nearly five hours each day—on YouTube, TikTok, Instagram and other social media apps. There are a number of problems with this level of social media use, one of which is what this time is replacing. Third, for those whose kids already have smartphones and use social media apps, speak with them about the impact of social media on them.

Persons: Leana Wen, Wen, It’s, I’ve, Vivek Murthy, Murthy, I’d Organizations: CNN, George Washington University, Getty, Pediatrics, YouTube Locations: Nova Scotia, Canada, South Africa

☆ Cramer points out current economic issues some companies are ignoring
▼ + stars: | 2024-08-12 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Monday said a variety of companies, to their detriment, won't admit they're hurting due to certain ongoing economic trends. "If they'd just own up, I think they'd earn a lot of credibility for themselves, leading to higher stock prices down the line. Cramer pointed to Jack Daniels maker Brown-Forman , which missed estimates during its most recent quarter and is down about 23% year to date. Cramer also mentioned peer spirit company Diageo , which saw sales decline in its most recent quarter and is down more than 14% year to date. According to Cramer, few companies have lowered prices since they raised them during the Covid-19 pandemic.

Persons: CNBC's Jim Cramer, Cramer, Jack Daniels, Brown, Forman, they'll Organizations: Diageo, Costco, Walmart, Enterprise

☆ Chuck E. Cheese targets inflation-weary families with a bargain subscription program
▼ + stars: | 2024-08-12 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Chuck E. Cheese has a new subscription program that’s half the price of a Netflix plan, but one the animatronic rat likely hopes double the fun. Chuck E. Cheese hopes the new program attracts inflation-weary customers who have cut back on discretionary spending to save money and seek a better deal. Chang’s providing various versions of their own helping the businesses lock in loyalty and deliver a consistent stream of income. So, Chuck E. Cheese may find it difficult to persuade all but the most ardent of loyalists to fork out for this,” he told CNN. In 2020, Chuck E. Cheese filed for bankruptcy at the height of the Covid-19 pandemic that forced business to temporarily shutter.

Persons: Chuck E, ” Mark Kupferman, ”, Cheese, Taco, Neil Saunders Organizations: New, New York CNN, Netflix, Taco Bell, GlobalData, CNN Locations: New York, Canada

☆ Starbucks shares get a lift on one-two punch of activist moves. More upside should be ahead
▼ + stars: | 2024-08-12 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Activist involvement is heating up at Starbucks , increasing the likelihood that the coffee chain makes changes necessary to boost its languishing stock price. This one-two punch of activist news is sending shares of Starbucks higher by more than 2% Monday, to nearly $77 each. We upgraded our rating on Starbucks' stock to a buy-equivalent rating last month on hopes that Elliott's presence would lead to positive changes inside the company. Board seats aside, Elliott's exact plan to lift Starbucks' stock is not known. This is not the first time Elliott and Starboard have been in a Club stock at the same time.

Persons: Jeff Smith's, It's, John's, Elliott Management —, Jesse Cohn, Cohn, Satya Nadella, Elliott, Jim Cramer, Jim, That's, Laxman Narasimhan, Wells Fargo, Jim Cramer's, Beata Zawrzel Organizations: Street Journal, Olive Garden, Darden, CNBC, Microsoft, Starbucks, Club, Constellation Brands, Nurphoto, Getty Locations: China, North America, Salesforce, Krakow, Poland

☆ Trump, Vance double down on call for presidential influence on Fed policy
▼ + stars: | 2024-08-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

Joe Raedle | Getty ImagesThe president has no direct control over interest ratesAs it stands, the president exerts no direct control over interest rates. The Federal Reserve sets interest rates, and it operates independently of the White House. Last month, Trump said that if elected he would "bring interest rates way down." Now, however, Trump has cautioned against the Fed lowering rates shortly before the presidential election in November. "I think he's going to do something to probably help the Democrats, I think, if he lowers interest rates."

Persons: Donald Trump, Joe Raedle, Brett House, Trump, Fed Trump, Jerome Powell, Trump's, reappoint Powell, Powell, Greg McBride, Wells Fargo Organizations: Federal Reserve, White, Fed, Columbia Business School, Reserve Act, Republican, National Association of Black Journalists, Markets, U.S, Bloomberg Businessweek, Fox Business, Barclays Locations: Lago, Palm Beach , Florida, Chicago

☆ S&P 500 may struggle in the next two months, according to history of past volatility spikes
▼ + stars: | 2024-08-12 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Bank of America found that the S & P 500 typically is lower two months after the Cboe Volatility Index (VIX) spikes above 45. In the eight weeks after such a volatility surge, the S & P 500 is higher only 40% of the time and loses 0.72% on a median basis, BofA data shows. Typically, the broad market index gains 66% of the time and advances 1.95% on a median basis. Roughly three months after a Vix spike, the broad market index is higher 80% of the time, gaining 5.17% on a median basis, per BofA. One year later, the S & P 500 is up 80% of the time, rallying 18.18% on a median basis.

Persons: Stephen Suttmeier, it's Organizations: Bank of America Securities . Bank of America, BofA Securities

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