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Marjorie Merriweather Post built Mar-a-Lago as her winter home in Palm Beach, Florida, in 1927. Donald Trump bought Mar-a-Lago in 1985. Go to newsletter preferences Thanks for signing up! AdvertisementBefore former President Donald Trump owned Mar-a-Lago, it belonged to the richest woman in the US. Marjorie Merriweather Post, heiress to her father's Post cereal fortune, built the Palm Beach, Florida, estate as her winter home.
Persons: Marjorie Merriweather, Donald Trump, , Marjorie Merriweather Post, Topridge Organizations: Mar, Service, Construction, Business Locations: Palm Beach , Florida, Lago, Beach , Florida, Hillwood, Washington ,, Upstate New York
Japan said a Russian surveillance plane violated its airspace three times on Monday. A Chinese military plane violated Japan's airspace last month. AdvertisementA Russian military spy plane violated Japan's airspace multiple times on Monday, prompting it to scramble fighters and fire flares in response. The incident comes a month after another incident last month in which a Chinese military surveillance plane directly violated Japanese airspace for the first known time. The Japanese defense ministry reported Monday's violation of its airspace, confirming that a Russian military IL-38 patrol aircraft flew into Japanese airspace off Rebun Island and northwest of Hokkaido, Japan's northernmost main island.
Persons: Organizations: Self, Defense Force, Service, Business Locations: Japan, Russian, Hokkaido
Beyoncé at the 2024 iHeartRadio Music Awards held at the Dolby Theatre in Los Angeles on April 1, 2024. Levi Strauss summoned the Beyhive on Monday after teasing a potential collaboration with Beyoncé in a post on Instagram. Aside from the allusions to Beyoncé's latest album, "Cowboy Carter," Levi's also tagged the superstar's account in the post, fueling buzz from her fanbase, known as the Beyhive. Levi's second-quarter earnings in June missed Wall Street's sales expectations, but the brand's leadership has maintained that the future of denim is bright. Representatives for Levi's did not immediately respond to CNBC's request for comment on the potential Beyoncé collaboration.
Persons: Levi Strauss, Cowboy Carter, Levi's, Michelle Gass Organizations: Dolby Theatre, Beyoncé, Abercrombie, Fitch Locations: Los Angeles
Yields and prices move in opposite directions. One basis point is equivalent to 0.01%. The 10-year Treasury yield was up just over a basis point at 3.745% at 3:41 a.m. U.S. Treasury yields were slightly higher early Monday as investors assessed the growth outlook following the Federal Reserve's jumbo rate cut last week. The 10-year Treasury yield ended last week almost 8 basis points higher after the Fed lowered rates by half a percentage point on Wednesday.
Persons: Jerome Powell, Raphael Bostic, Neel Kashkari, Austan Goolsbee, Adriana Kugler Organizations: U.S, Treasury, Federal Locations: U.S
Ukraine has carried out a string of attacks on Russian ammunition depots over the past week. Newly released satellite images taken before and after the attacks reveal extensive damage at three sites. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNewly published satellite imagery shows extensive damage at three large ammunition depots inside Russia in the aftermath of multiple Ukrainian attacks over the past week.
Persons: Organizations: Service, Business Locations: Ukraine, Russia
UK Finance Minister Reeves vows no austerity despite tough budget
  + stars: | 2024-09-23 | by ( ) www.cnbc.com   time to read: +1 min
Britain's Finance Minister Rachel Reeves has pledged to make the "necessary", "urgent" and "incredibly tough" choices to restore the country's economic stability. Finance minister Rachel Reeves will promise Britain on Monday there will be no return to "austerity" or widespread spending cuts despite previous warnings of a tough budget aimed at fixing the foundations of the economy. "There will be no return to austerity. Conservative austerity was a destructive choice for our public services - and for investment and growth too," Reeves will say, according to extracts from her speech. "We must deal with the Tory (Conservative) legacy and that means tough decisions.
Persons: Rachel Reeves, Reeves Organizations: Britain's, Labour, Labour Party, Tory Locations: English, Liverpool
Royal Caribbean says its next Icon class ship, Star of the Seas, will set sail in August 2025. The first vessel in its class, Icon of the Seas, debuted in early 2024 to massive success. Star of the Seas would be as large as its predecessor and have amenities like a six-slide waterpark. Go to newsletter preferences Thanks for signing up! The popular cruise line says its second Icon class mega-ship, Star of the Seas, will debut with seven-night Caribbean cruises from Florida's Port Canaveral beginning August 2025.
Persons: Organizations: Royal, Service, Florida's Port Canaveral, Fares, Business Locations: Royal Caribbean, Florida's Port
CNN —The surviving co-founder of the company that owned the doomed Titan submersible is scheduled to testify Monday as a US Coast Guard panel continues to investigate what led to the implosion that killed five people last year. The Marine Board of Investigation’s two-week hearing began September 16 and is expected to resume Monday with OceanGate co-founder Guillermo Sohnlein, who in January 2013 left the company, set to testify, the Coast Guard’s hearing schedule shows. In 2009, Sohnlein and CEO Stockton Rush launched the Washington state-based company that created the experimental 23,000-pound submersible. The submersible lost contact with its support vessel, the Polar Prince, an hour and 45 minutes into its dive on June 18, 2023. Former OceanGate director of marine operations David Lochridge, center, stands during his testimony on September 17, 2024.
Persons: OceanGate, Guillermo Sohnlein, Sohnlein, Shahzada Dawood, Suleman Dawood, Hamish Harding, Paul, Henri Nargeolet, Sohnlein’s, CNN’s Anderson Cooper, Rush, , ” Sohnlein, David Lochridge, Andrew J, Whitaker, ” Lochridge, Steven Ross, Ross, Antonella Wilby, Wilby, , , ” Roy Thomas, Phil Brooks Organizations: CNN, US Coast Guard, Marine Board, Stockton Rush, Marine Board of Investigation, Coast Guard, American Bureau of Shipping Locations: Washington
New York CNN —Kmart, once one of America’s leading discount retailers, is closing its last full-size store in the mainland United States. It also has stores in Guam and the US Virgin Islands, where it does not face competition from more successful big box stores. At the time of the 2005 merger Kmart had about 1,400 stores and Sears nearly 900 full-line US stores. Today only a handful of Sears stores remain, although it has outlets thatoperate under the Sears Hometown brands. The chain grew rapidly for several decades, claiming the discount segment of the market that big box stores now dominate.
Persons: Transformco, Eddie Lampert, Lampert, Sebastian Spering Kresge Organizations: New, New York CNN, Kmart, Sears, Sears Holdings, Virgin Islands, Walmart, Target, Sears Hometown Locations: New York, United States, Bridgehampton , New York, Long, Miami, Guam, Virgin, Detroit
CNN —Ukrainian President Volodymyr Zelensky toured a Pennsylvania ammunition plant on Sunday as he began a key visit to the United States in which he is expected to present his blueprint to defeat Russia to President Joe Biden and other allies. “This fall will determine the future of this war,” Zelensky posted on X from his plane before landing in the US. “It is in places like this where you can truly feel that the democratic world can prevail,” he said. He will then travel to Washington for talks with Biden and Democratic presidential nominee, Vice President Kamala Harris. “I want to see what she thinks about this victory plan,” he said of Harris on Friday.
Persons: Volodymyr Zelensky, Joe Biden, Zelensky, Russia –, Biden, ” Zelensky, , Deonte Rowell, let’s, Kamala Harris, , Harris, ” Harris, Donald Trump Organizations: CNN, Scranton Army, Plant, U.S . Army, AP, United Nations General Assembly, Democratic, Biden, NATO, Republican Locations: Pennsylvania, United States, Russia, Scranton, Biden’s, Ukraine, America, United Kingdom, New York, Europe, Washington
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Monday's full episode of the Halftime Report — September 23, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.
Persons: CNBC's Scott Wapner Organizations: CNBC PRO
The trip is set to be her first visit to the southern border since President Biden dropped out of the race. Ms. Harris may give remarks about border issues during the visit, according to the people, who insisted on anonymity to discuss a trip that has not yet been made public. The people said final details about exactly where Ms. Harris would visit or what else she might do on the trip have not been decided. Mr. Trump and Republicans have blamed Ms. Harris for the large numbers of migrants crossing into the United States from Mexico over the past several years. Early in his administration, Mr. Biden made Ms. Harris responsible for addressing the root causes of migration from Latin America.
Persons: Kamala Harris, Donald J, Biden, Harris, Trump Locations: U.S, Mexico, Arizona, United States, America
The two sides met at City’s Etihad Stadium on Sunday with both teams eager to strike first in this year’s title race. Just before half-time, Arsenal attacker Leandro Trossard committed a foul before kicking the ball across the pitch, earning a controversial second yellow card. Matt West/ShutterstockAfter being reduced to 10 players, Arsenal manager Mikel Arteta adopted a highly defensive shape to try and protect the lead. “I think the win belongs to the players and for our fans,” Fonseca said after the game. A chaotic first half saw visiting Wolfsburg take a 3-2 lead before Piero Hincapié leveled things up shortly after half-time.
Persons: Erling Haaland, Pep Guardiola’s, Rodri, Riccardo Calafiori, Gabriel Magalhães, Leandro Trossard, Trossard, Michael Oliver, Matt West, Mikel Arteta, John Stones, Kyle Walker, , Robert Lewandowski, Ayoze Pérez, Pablo Torre, David Ramos, , Marc, André ter Stegen, Blancos, Thibaut Courtois, Dani Carvajal, Rodrygo, Vinícius Jr, Mbappé, Carlo Ancelotti’s, Atlético, Matteo Gabbia, Christian Pulisic, Yann Sommer, Milan's Tijjani Reijnders, Alessandro Bastoni, Marco Luzzani, Federico Dimarco, Gabbia, Paulo Fonseca, ” Fonseca, we’ve, Serie A’s, Michael Olise, Jamal Musiala, Harry Kane, Serge Gnabry, Christina Pahnke, ” Kane, Kane’s, Xabi, Piero Hincapié, Victor Boniface Organizations: CNN, England’s Premier League Arsenal, Manchester, Premier League, City’s Etihad, Arsenal, Gunners, Londoners, City, BBC Radio, BBC Sport, La Liga Barcelona, Villarreal, La Liga, Torre, Catalans, Real Madrid, Espanyol, Madrid hasn’t, Barcelona, Serie, Italy’s, Milan, Internazionale, Derby, San, US, Inter, Torino, Hellas Verona, Germany’s Bundesliga, Bayern, Bundesliga, Dinamo Zagreb, Champions League, Werder Bremen, Getty, Bayer Leverkusen, Wolfsburg, Leverkusen Locations: Villareal, Raphinha, Milan, Bayern Munich, lederhosen, AFP
Where Harris is outspending Trump the most
  + stars: | 2024-09-23 | by ( Alice Tecotzky | ) www.businessinsider.com   time to read: +4 min
Read previewAs Vice President Harris and former President Donald Trump enter the most expensive stretch of the election, their respective spending habits say a lot about the state of the race. And while polls may be tight, the money race isn't — Harris is outspending Trump by approximately $5 million every single day, according to the most recent federal filings. Harris is outspending Trump in ad buys in every single swing state, Bloomberg reported based on data from AdImpact. AdvertisementNeither the Trump nor Harris campaigns immediately responded to Business Insider's request for comment. Trump is outspending Harris in terms of direct mail by a ratio of approximately three-to-one.
Persons: , Harris, Donald Trump, isn't — Harris, outspending Trump, Trump, Anne Hathaway, Whoopi Goldberg, Timothy Mellon, Elon Musk, outspending Harris, doesn't Organizations: Service, Business, Bloomberg, Democratic, Cipriani Wall, New York Times, Big, Trump, Elon, Labor, Musk's America PAC Locations: Pennsylvania, Michigan , Georgia, Arizona , Wisconsin, North Carolina, Nevada, Michigan, Georgia , Wisconsin , Arizona, Silicon Valley, San Francisco, Los Angeles
Business Insider spoke to stylists and designers about fall clothing items you should get rid of. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Business Insider asked designers and stylists which clothes and accessories they think people should get rid of right now.
Persons: Organizations: Service, New York, Business Locations: New
The US is set to send Taiwan $567 million in military aid, US officials told Defense News. They said it would be the largest aid package ever sent to Taiwan. Go to newsletter preferences Thanks for signing up! AdvertisementThe US is gearing up to send Taiwan its largest-ever security package, multiple congressional aides and a US official told Defense News. Two of the sources told the outlet that President Joe Biden is expected to sign the $567 million package before the fiscal year expires later this month.
Persons: , Joe Biden Organizations: Defense, Service, Defense News, Pentagon, Business Locations: Taiwan, China
“Women will be happy, healthy, confident and free,” he said during an extended riff at the rally. And then he asserted: “You will no longer be thinking about abortion.”A spokeswoman for the Harris campaign, Sarafina Chitika, said that “women know better.”“He tries to tell us what to think and what we care about,” Ms. Chitika said. On Monday night, he repeated that the court’s ruling returned authority to the states to determine their own limits on abortion, a move that he said that many Americans had favored for decades. “Everyone wanted abortion out of the federal government and into the states,” he said. Mr. Trump also repeated a falsehood that he amplified during his debate against Ms. Harris earlier this month, saying that Democrats had been demanding abortions in the ninth month of a pregnancy or “an execution of a baby after birth.”
Persons: Trump, Jean Carroll, , Harris, Sarafina Chitika, , ” Ms, Chitika, Roe, Wade
CNN —Three men’s lacrosse players at Tufts University remain hospitalized after a voluntary, supervised 45-minute workout with a Navy SEAL graduate left them with a dangerous condition called rhabdomyolysis, the university said. A spokesperson for the university previously said five remained hospitalized. All have been evaluated by medical professionals, with a total of nine requiring hospitalization for rhabdomyolysis (rhabdo),” Collins said in an updated statement Monday. “The university continues to closely monitor the condition of the team, and some individual team members have been medically cleared to resume training,” Collins said. “A typical time of year when we see it in athletes is in the off-season, or getting ramped back up,” Sikka, who also serves as a team physician for the New York Yankees, told CNN.
Persons: BUD, Patrick Collins, ” Collins, , Dr, Shruti Gupta, , Robby Sikka, ” Sikka, Sikka, it’s, CNN’s Meg Tirrell Organizations: CNN, Tufts University, SEAL, Tufts, Navy SEAL, Media Relations, Cleveland Clinic, Brigham, Women’s, WCVB, Professional Tennis Players, New York Yankees
Nebraska Republicans dominate the state's politics, including its officially non-partisan, one-house legislature. The Nebraska Examiner reported that without McDonnell, Republicans have "no path" unless a Democrat or nonpartisan lawmaker changes their mind. Nebraska and Maine are the only states that award some of their Electoral College votes by congressional district. In 2020, President Joe Biden carried the Omaha-area 2nd District and its one Electoral College vote. If she carries the Omaha-area vote, she could win by holding onto Pennsylvania, Michigan, and Wisconsin — the so-called "Blue Wall" states.
Persons: , Donald Trump's, Kamala Harris, Sen, Mike McDonnell, US Sen, Lindsey Graham, McDonnell, Jim Pillen, Trump, Chris LaCivita, Harris, Joe Biden, Don Bacon, Biden Organizations: Service, White, US, Trump, Business, Nebraska Republicans, Nebraska Examiner, Republicans, Republican, Mayor, Nebraska, Politico, GOP, White House, Electoral, Omaha -, Rep, Representatives Locations: Nebraska, Omaha, Maine, District, Pennsylvania , Michigan, Wisconsin, Arizona , Nevada , Pennsylvania, North Carolina, Nevada
Luxury stocks slip as fears grow of a prolonged downturn
  + stars: | 2024-09-23 | by ( Jenni Reid | ) www.cnbc.com   time to read: +3 min
Bloomberg | Bloomberg | Getty ImagesLONDON — European luxury stocks tumbled on Monday as analysts warned of a deteriorating demand outlook, particularly among high-spending Chinese consumers. "Following the post-Covid peak in consumption in 2022, luxury sector revenues have been sequentially slowing. Across European luxury firms, they expect a 1% revenue decline in 2024. The Stoxx Europe Luxury 10, an index tracking top names in the sector, managed to hold flat but has fallen 3.82% in the year to date. 'Prolonged period of weakness'They're not alone in their bearish view on Europe's luxury sector.
Persons: Hugo Boss, Germany's Hugo Boss, Burberry, Kering, Hermes, Jon Cox, Kepler Cheuvreux, CNBC's, Cox Organizations: Hugo, Hugo Boss AG, Bloomberg, Getty, Bank of America, Korean, BofA Securities, Kepler, U.S, CNBC, Burberry Locations: Shanghai, China, American, Europe
US stocks rose Monday, with the Dow closing at a record high amid hopes for more rate cuts. Odds of a 50 basis point rate cut at the next FOMC meeting increased to 53%, up from 29% last week. AdvertisementUS stocks gained on Monday with the Dow Jones Industrial and S&P 500 closing at record highs as hopes of more Fed interest rate cuts ramped up. According to the CME FedWatch Tool, markets expect the Fed funds rate to fall to below 3% by the end of 2025, from 4.83% on Monday. That lines up with Kashkari's projection for the long-term Fed funds rate to sit at around 2.9%.
Persons: , Austan Goolsbee, Neel Kashkari, Goolsbee, Kashkari Organizations: Dow, Service, Dow Jones Industrial, Federal, Chicago Fed, Minneapolis Fed, Fed Locations: Chicago
Europe could be drifting in to a downturn as its biggest economies, Germany and France, fight political and economic woes at home. In Germany, composite purchasing manager's index (PMI data) measuring business activity in both sectors, came in at XXXX, down from XXX in August. In France, meanwhile, the composite PMI fell in September to an eight-month low of 47.4 from 53.1 in August. In the euro zone as a whole, the PMI data showed a decline from XXX last month to XXX, in September. Once Europe's poster-child for growth, Germany is now likened to the "sick man" of Europe by economists.
Persons: Pariser, , Chancellor Olaf Scholz's, J.P, Greg Fuzesi Organizations: Pariser Platz, PMI, Social Democratic Party, SPD Locations: Berlin, Germany, Europe, France, Brandenberg, Thuringia, Saxony, Morgan
Read previewConsumers could end up paying the (personalized) price as AI becomes more popular, FTC Chair Lina Khan recently warned. Khan said that dynamic pricing, while a separate pricing strategy, may have helped price targeting become more prevalent as people become increasingly used to encountering it. Dynamic pricing itself has already proven controversial in some areas. Wendy's received major heat from customers after announcing plans to introduce dynamic pricing and AI-enabled menu changes as early as 2025. Later, the fast-food chain clarified that its dynamic pricing would not raise prices but rather only provide discounts.
Persons: , Lina Khan, Khan, there's, we've, Wendy's, Kroger, Elizabeth Pancotti, Pancotti Organizations: Service, Innovation, Business, FTC, Microsoft, Walmart, Roosevelt Institute
Minneapolis Federal Reserve President Neel Kashkari said Monday that he expects policymakers to dial down the pace of interest rate cuts after last week's half percentage point reduction. "I think after 50 basis points, we're still in a net tight position," Kashkari said in a CNBC "Squawk Box" interview. "Right now, we still have a strong, healthy labor market. In their latest economic projections, FOMC members indicated that rate is probably around 2.9%; the current fed funds rate is targeted between 4.75% and 5%. Speaking separately Monday morning, Atlanta Fed President Raphael Bostic indicated he expects the Fed to move aggressively in getting back to a neutral rate.
Persons: Neel Kashkari, we're, Kashkari, Kasharki, Raphael Bostic, Bostic Organizations: Minneapolis Federal, CNBC, Federal Reserve, Atlanta Fed, Fed Locations: Minneapolis
In a note to clients, Slok issued a more positive outlook on the US job market, even as hiring has slowed this year. "It is inconsistent to say that the incoming economic data is strong but the labor market is weakening," Slok wrote. AdvertisementHowever, consumption and business spending data have been strong in recent months. If the 30-year fixed rate slumps to around 5%, that could that could spark a rebound in home sales, providing a boost to the economy and job market, Slok said. AdvertisementThe outlook for the job market, though, remains mixed, with some commentators warning that hiring could continue to slow due to the lagged impact of the Fed's rate hikes.
Persons: , Torsten Slok, Slok, Freddie Mac, David Rosenberg, who's Organizations: Service, Apollo Global Management, Business, Bureau of Labor Statistics, Challenger, IRA, Atlanta Fed Locations: Atlanta
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