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Despite the gloom about grocery costs, food price increases have generally been cooling for months. A central issue has plagued the Biden administration for most of its term: the steep rise in grocery prices. Despite the gloom about grocery costs, food price increases have generally been cooling for months. Image Several economists said they expected to see grocery inflation remain around current rates in the coming months. Grocery inflation remains a major political issueHigh food costs continue to pose a political challenge for the Biden administration.
Persons: Biden, Donald J, Trump, , David Ortega, Ortega, “ We’re, Mr, Jessica Attie, Omair Sharif, Sharif, Kamala Harris, Christopher B, Barrett, Jerlyn, , Heisz Organizations: Bloomberg, Federal Reserve, Investors, Republican, White, Workers, Michigan State University, The New York Times, Agriculture Department, KPMG, Democratic, PepsiCo, Cornell University Locations: Ukraine, Platteville, Wis
During the Monaco race on July 28, Bernard d'Alessandri, general secretary and managing director of Yacht Club de Monaco, said E1 showcases new technology for boat racing. "Before E1, it was impossible to have a race with electric boats," he said. Acceptance of electric boating among the eliteRacebird creator Sophi Horne said getting the attention of Monaco's boating elite wasn't easy. Team owners Didier Drogba and Tom Brady speak with Alejandro Agag, co-founder and chairman of the E1 Series, ahead of the E1 race in Venice, Italy — the second of the series. The final two E1 races are scheduled to occur in Lake Como, Italy and Hong Kong.
Persons: Shiv, Bernard d'Alessandri, Akin, Racebird, Rodi Basso, Team Rafa, Rafael Nadal, Basso, Prince Albert II of Monaco, Sophi Horne, Cara Delevingne, Lloyd, Horne, they've, , Will Smith, Marc Anthony, Tom Brady, Didier Drogba, Virat Kohli, Sergio Perez, Steve Aoki, Marcelo Claure —, Alejandro Agag, Italy —, Daniele Venturelli, Brady, Drogba, Nadal, Carlos Duarte, Racebirds Organizations: Port, Media Monaco, Monaco, Yacht Club de Monaco, Formula, Team, NFL, Getty Locations: Monaco, Saudi Arabia, Racebirds, Venice, Italy, Mallorca, Lake Como, Hong Kong
U.K. inflation rose to 2.2% in July, coming in slightly below expectations but inching back above the Bank of England's 2% target, data from the Office for National Statistics showed Wednesday. The headline inflation had come in at 2% in both May and June, in line with the Bank of England's target rate. So-called core-CPI — which excludes food, energy, alcohol and tobacco prices — came in at 3.3% in July, down from the 3.5% print of July, the statistics office said. The data comes after the Bank of England earlier this month cut interest rates for the first time in over four years, taking the key bank rate to 5%. Uncertainty remains about when the central bank will cut rates again, and whether another cut will even take place this year.
Persons: BOE Organizations: Bank of England's, Office, National Statistics, Reuters, Bank of, Bank of England
Top NewsPresident Recep Tayyip Erdogan of Turkey has called Prime Minister Benjamin Netanyahu of Israel a “bloodsucking vampire” because of his approach to the war in Gaza. Mr. Erdogan knew Mr. Haniyeh personally. He didn’t name them, but the United States is by far the biggest supplier of weapons to Israel. United States officials have suggested that the authority — a fierce rival of Hamas — could help govern Gaza after the war, an idea Mr. Netanyahu has rejected. Mr. Flake said that despite Mr. Haniyeh’s death, Turkey and the United States still shared the same goal.
Persons: Recep Tayyip Erdogan, Benjamin Netanyahu, Israel, Ismail Haniyeh, Mahmoud Abbas, Erdogan, Erdogan’s, Mr, Haniyeh, Hakan Fidan, Jeffry, Fidan, , , Abbas, , Netanyahu, Haniyeh’s, Flake, Turkey’s Organizations: Palestinian Authority, Hamas, Development Party, West Bank, Israel Locations: Turkey, Gaza, , Israel, Ankara, United States, Montenegro, reining, Qatar, Egypt
CNN —The judge overseeing Donald Trump’s criminal trial related to hush money payments said he will not recuse himself from the case, rejecting the former president’s latest attempt to remove him ahead of his sentencing next month. Trump has repeatedly sought to remove Judge Juan Merchan from the proceedings, citing work the judge’s daughter has done for Democratic campaigns. In denying Trump’s motion, the judge wrote, “this court now reiterates for the third time, that which should already be clear – innuendo and mischaracterization do not a conflict create.”The judge said Trump has offered no new facts to warrant another review. “Counsel has merely repeated arguments that have already been denied by this and higher courts,” Merchan wrote in his decision. “President Trump will continue to fight this scam, and will always do all he can to save this great country from the dangerously liberal Harris-Biden mess.”This story has been updated with additional reaction.
Persons: Donald Trump’s, Trump, Juan Merchan, ” Merchan, Merchan, ” Steven Cheung, , ” Cheung, Harris, Biden, CNN’s Paula Reid Organizations: CNN, Democratic, White
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,
OpenAI and Anthropic have been giving Google a run for its money in the AI race. "The reason the startups work is because the people work like hell," Schmidt said. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! AdvertisementRemote working has blunted Google's competitiveness in the AI race, says the company's former CEO and chairman, Eric Schmidt.
Persons: Eric Schmidt, Schmidt, , Anthropic Organizations: Google, Service, Stanford University, Stanford, YouTube, Business
Read previewDealmakers have always been the stars of private equity. AdvertisementKevin Desai, partner and private equity sector leader at PwC PWCBut in the current climate, portfolio-operations professionals are gaining esteem. AdvertisementPrivate equity 3.0Rising interest rates nearly two and a half years ago ushered in a new economic reality that hit private equity firms right in the pocket. Since private equity relies on debt to boost returns, the first option is off the table. These people are taking their talents to private equity firms to manage smaller companies using an already proven playbook for technological transformation.
Persons: , you've, Marc Rowan, Rowan, Kevin Desai, Desai, I've, What's, they're, quants, we've Organizations: Service, Business, PricewaterhouseCoopers, University of Chicago, Walmart, Nike, Harvard Business Locations: dealmaking
Intel has sold its 1.18 million share stake in British chip firm Arm Holdings, according to a regulatory filing, as the California chip designer shores up its balance sheet amid intense competition. The sale, disclosed on Tuesday, likely raised Intel nearly $147 million, based on Arm's average stock price between April and June. Intel had cash and cash equivalents of $11.3 billion, and liabilities of about $32 billion at the end of June, according to its latest financials. Intel and Arm declined to comment on the sale when contacted by CNBC on Wednesday. Japan's SoftBank Group has a majority stake in Arm, and has been a beneficiary of the jump in the company's shares.
Persons: Pat Gelsinger, Gelsinger, Japan's Organizations: Intel, Arm Holdings, AMD, Qualcomm, Nvidia, Samsung, CNBC, Wednesday, Japan's SoftBank Locations: Santa Clara , California, California, South
EliseAI has raised $75 million in Series D funding at a unicorn valuation. The fundraise means the New York startup has hit a unicorn valuation, its CEO said. AdvertisementNew York AI startup EliseAI announced Wednesday it had raised $75 million in Series D funding. CEO and cofounder Minna Song told Business Insider the funding meant EliseAI now had a unicorn valuation. This story is available exclusively to Business Insider subscribers.
Persons: EliseAI, , Minna Song Organizations: Service, Business Locations: York
The death of a 53-year-old Ohio man who died in police custody in April after he repeatedly told officers “I can’t breathe” has been ruled a homicide. Bodycam video shows police approaching Frank Tyson at an AMVETS post in Canton Township, Ohio, on April 18. The officers tell him he is fine and to calm down and stop fighting as he is handcuffed face down. A passing motorist whose face is blurred in the video directed officers to the AMVETS post. When the officers approach him at the bar, Tyson knocks over a barstool and tells them to get the sheriff.
Persons: , Frank Tyson, Harry Campbell, Tyson, “ They’re, , “ I’ve, ” Tyson Organizations: Canton Police, leafs Locations: Ohio, Canton, Cleveland, Stark, Canton Township , Ohio
WNBA star Dearica Hamby sued her former team in federal court Monday, alleging the Las Vegas Aces discriminated against her after she revealed that she was pregnant. In a conversation the following January with the Aces’ head coach, Becky Hammon, the suit alleges the coach questioned Hamby’s commitment to the team. The next day, on Jan. 16, the coach told Hamby her time with the team was up, the suit says. On May 16 of that year, the league released a statement saying the Aces had violated league rules in connection with Hamby’s contract. According to the suit, the league took no steps to address what the complaint describes as a "clear-cut" violation of federal and state anti-discrimination law.
Persons: Dearica Hamby, Hamby’s, Becky Hammon —, , Los Angeles Sparks, Hamby, Becky Hammon, Hammon, “ Hammon, she’d Organizations: Las Vegas Aces, WNBA, Aces, Los Angeles, Sparks Locations: Nevada
Tropical Storm Ernesto is expected to strengthen into a hurricane in the Atlantic by Thursday, according to the National Hurricane Center. Tropical Storm Ernesto on Tuesday. Puerto Rico has already activated the National Guard and canceled the start of classes in public schools, The Associated Press reported. A hurricane watch was issued for the U.S. and British Virgin Islands and Puerto Rico's Vieques and Culebra. Tropical storm warnings have been issued for Puerto Rico, St. Kitts and Nevis, St. Martin and St. Maarten, Guadeloupe, and St. Barts.
Persons: Ernesto, Storm Ernesto, Martin, St Organizations: National Hurricane Center, Virgin, NOAA, Getty, Virgin Islands, U.S, British Virgin Islands, National Guard, Associated Press Locations: Caribbean, San Juan , Puerto Rico, Puerto Rico, Atlantic, Cuba, Jamaica, Leeward Islands, Virgin, British Virgin, British Virgin Islands . Puerto Rico, Puerto, Vieques, Culebra, St, Kitts, Nevis, Maarten, Guadeloupe, Barts
That wasn’t an option in their native Russia, but it’s possible now that they live in Germany, which recognizes same-sex weddings. Subbotina campaigned for her partner’s release while also trying to make her life behind bars as tolerable as possible. Now, “I feel that I’m in a really free country,” Subbotina said, as they make plans for a life together in the quiet city of Koblenz in western Germany. The next day, Skochilenko was finally able to embrace Subbotina, who flew to Germany when she heard the news. Freed Russian artist Sasha Skochilenko shows a painting she made of herself in Koblenz, Germany.
Persons: Sasha Skochilenko, ” Skochilenko, Subbotina, ” Subbotina, Skochilenko, , , , “ We’ve, Vladimir Putin’s, ‘ Sonya, I’m, , Andrei Pivovarov, Olaf Scholz, Freed, Michael Probst, ” They’ve, Sasha Organizations: Associated Press, Church, Russian Locations: Russia, Germany, East, Ukraine, Koblenz, St . Petersburg, Skochilenko, , Moscow, Moscow’s, Ankara, Turkey, Freed Russian
A ship in the Red Sea was targeted in a third attack suspected to have been carried out by Yemen’s Houthi rebels Tuesday in their campaign of assaults over the Israel-Hamas war, officials said. The Houthis have targeted more than 70 vessels with missiles and drones since the start of the war in Gaza in October. Other missiles and drones have been either intercepted by a U.S.-led coalition in the Red Sea or failed to reach their targets. After the strikes, the Houthis paused their attacks until Aug. 3, when they hit a Liberian-flagged container ship traveling through the Gulf of Aden. Additional F-22 fighter jets have flown into the region, while the USS Wasp, a large amphibious assault ship carrying F-35 fighter jets, is in the Mediterranean Sea.
Persons: Yemen’s Houthi, Ismail Haniyeh, Ambrey, Abraham Lincoln, Theodore Roosevelt Organizations: U.S . Navy, British military’s United Kingdom Maritime Trade Operations, Liberian, U.S ., USS Locations: Israel, Iran, Asia, Europe, Hodeida, British, Gaza, U.S, United States, Tel Aviv, Aden, America, USS Georgia, Gulf of Oman
CNN —At the end of July, Colorado became the latest US state to battle the spread of wildfires. There are satellites, which orbit the exosphere, between 375 miles (600 kilometers) and 6,200 miles (10,000 kilometers) above Earth, and also provide imagery, but often of a much lower quality than one of Urban Sky’s balloons. Another upside of Urban Sky’s balloons is cost, he says. It wants to create a model for both selling the balloons outright and operating the balloons itself while selling data as a service. “As wildfires continue to increase in frequency, intensity, magnitude and duration, such technology for managing wildfires could not come soon enough,” says Fisher.
Persons: Alexander, Jared Leidich, , Leidich, Joshua Fisher, perimeters, Ben Miller, Riley Reid, Urban, Fisher Organizations: CNN, Initiative, Urban, Sky, Concorde, California’s Chapman University, NASA, The Colorado Center of Excellence, Technology, US Geological Survey, NASA FireSense Locations: Colorado, Fort Collins, South Dakota, Briggsdale , Colorado
A brave mom who was attacked by a grizzly bear while jogging said her 2-year-old daughter was her inspiration to survive. Vanessa Chaput, 24, of Yukon, Canada, recovered in the hospital after a grizzly bear attack that required more than 30 stitches. Courtesy Dave Leegstra"I spotted the male that would attack me first ... and two smaller bears about 10 feet away from me,” she said. Luna ripped away from Chaput and chased the two smaller bears away, leaving Chaput alone with the male bear. She doesn’t know why the smaller bears didn’t attack Luna, but she suspects her mighty bark scared them away.
Persons: ” Vanessa Chaput, TODAY.com, Chaput, Luna, Vanessa Chaput, Dave Leegstra, , ” Chaput, , ” Vanessa Chaput’s, Leegstra, “ Mommy, Luna — Organizations: Apple Watch, Yukon, Trans Locations: Yukon, Canada, Haines, Pine, Campground, Ontario, Chaput’s, Chaput, Alaska, Pine Lake, Alberta
The WNBA is “aware of today’s legal filing” and officials are “reviewing the complaint,” a WNBA spokesperson said. Hamby played for the organization from 2015 to 2022, winning a WNBA title in her last season. In May 2023, Hammon told reporters: “(Her pregnancy) wasn’t a problem, and it never was why we made the decision to move Hamby. The world champion Aces exiled Dearica Hamby for becoming pregnant and the WNBA responded with a light tap on the wrist,” Hamby’s attorneys said in Monday’s statement. Hamby recently won a bronze medal at the Olympics as a member of the US women’s 3x3 basketball team.
Persons: Dearica Hamby, Hamby, WNBA “, , she’d, , Becky Hammon, Hammon, Hammon “, ” Hammon, “ Hammon, Sparks, Hamby’s, , Terri Carmichael, ” Hamby, “ I’m Organizations: CNN, Las Vegas Aces, Aces, Los Angeles Sparks, WNBA, , , Olympics, Sparks Locations: Nevada, Las Vegas, San Antonio, America, LA
CNN —Elon Musk said an attack on X delayed his interview with former President Donald Trump by 42 minutes. But Musk also blamed mistakes by X’s staff for the snafu that prevented people from joining the stream. On his social media platform, Truth Social, Trump had called DeSantis’ technical difficulties on X a “disaster,” which Vice President Kamala Harris’ campaign reposted during the meltdown Monday night. But when people tried to access the Trump interview at the scheduled 8 pm ET start time, they were greeted with grayed out screens and were unable to join. Eventually, the interview began, and both X and Musk claimed it was a success.
Persons: CNN — Elon Musk, X, Donald Trump, Musk, ” Musk, , Ron DeSantis ’, Trump, Kamala Harris ’, Linda Yaccarino Organizations: CNN, Florida Republican, Twitter, Trump Locations: Florida
Watch CNBC's full video on the Starbucks shake-up
  + stars: | 2024-08-13 | 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 video on the Starbucks shake-upNancy Tengler, Laffer Tengler Investments CEO and CIO, and Greg Francfort, Guggenheim equity research analyst, and CNBC's Kate Rogers join 'The Exchange' to discuss Starbucks' future in leadership after the coffee giant announced its new CEO.
Persons: Nancy Tengler, Greg Francfort, Kate Rogers Organizations: Tengler
As the West watches on, seemingly impotent, Russia grows ever bolder, like a bully who realizes the teacher isn’t coming. Despite having the resources to end this war on Ukraine’s terms, the West clearly lacks the will to win. But the West is wedded to its too-little-too-late approach, justified by the risk of provoking nuclear escalation from Russia. Nor has the West managed to cut off the sources of Russia’s economic might, despite rounds of sanctions. The economy is growing healthily, and the assets of Russian oligarchs remain safe in the West, even if frozen.
Persons: Vasily Nebenzya, isn’t, Vladimir Putin, , can’t Organizations: United Nations Security, United Nations, NATO, West Locations: Kyiv, Russia, New York, , Russian, Ukraine, U.S
watch nowBy most accounts, the rollout of the new Free Application for Federal Student Aid, better known as FAFSA, was disastrous from the start. Even now, some college students don't know the status of their aid awards for the fall. "The Department's poor planning has led to a stunning failure: Some college students might not have financial aid dollars in their hands in time to start classes in the next few weeks," said Beth Maglione, interim president and CEO of the National Association of Student Financial Aid Administrators. Families 'are falling back on borrowing for college'For many families, financial aid is crucial when it comes to covering college costs, which have now crept into the six figures. The share of parents taking out federal parent PLUS loans to help cover the costs of their children's college education has also grown, other studies show.
Persons: Beth Maglione, Education Miguel Cardona, Mark Kantrowitz, , Kantrowitz, Sallie Mae's, Jennifer Berg, Sallie Mae, " Berg Organizations: Federal Student Aid, National Association of Student Financial, U.S . Department of Education, Education Department, Department, Education, Finance, Harvard, College
In this article 8301.T-JP Follow your favorite stocks CREATE FREE ACCOUNTwatch nowCorrections in the yen and the unwinding of the carry trade are positive developments for Japan, said Jesper Koll, a veteran investor who remains bullish on the Japanese market. The yen carry trade began unwinding last week, as interest rate hikes by the Bank of Japan strengthened the yen, and led to a sharp sell-off in markets globally. Stock Chart Icon Stock chart icon U.S. dollar/Japanese yen"It is correct to put a price on money. According to Koll, it's possible that as much as 75% of the yen carry trade could have been unwound, though the total size of the carry trade has not been reliably ascertained. Stock Chart Icon Stock chart icon Nikkei 225
Persons: Jesper Koll, , CNBC's, unwinding, it's, Koll, Claude Trichet Organizations: Monex, Bank of Japan, Nikkei, European Central Bank Jean, CNBC, U.S ., Bank of Locations: Japan, U.S
Starbucks makes a change at the topThis just in: Laxman Narasimhan is out as the C.E.O. of Starbucks, the company announced on Tuesday, a year and a half since he succeeded Howard Schultz at the coffee chain. Narasimhan will be replaced by Brian Niccol, a fast-food industry veteran who executed a turnaround as C.E.O. Narasimhan has also been rocked by dueling activist investor campaigns and has had to fend off criticism from Schultz. Rachel Ruggeri, the Starbucks chief financial officer, will serve as interim C.E.O.
Persons: Laxman Narasimhan, Howard Schultz, Brian Niccol, Narasimhan, Schultz, It’s, Chipotle, Mellody Hobson, Rachel Ruggeri, Niccol Organizations: Starbucks, Narasimhan Locations: U.S, China
During the sell-off, strategists at Goldman Sachs recommended buying the dip in US stocks, albeit carefully, as they reiterated their year-end S&P 500 price target of 5,600. Economically sensitive stocks have lagged defensives by at least 5 percentage points in a single week 12 times since 2000, according to Goldman Sachs. "Despite the weak jobs report, our economists believe continued economic expansion is far more likely than recession," Kostin wrote. Goldman Sachs found that those micro factors explained 86% of stock returns in the first half of 2024, versus the long-term average of 57%. Fewer worries about the near-term economic outlook mean stocks will no longer trade in lockstep — a win for active investors.
Persons: , Goldman Sachs, David Kostin, Kostin, abate, lockstep — Organizations: Service, Goldman, Business, Institute of Supply, Walmart Locations: Japan, lockstep, Monday's
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