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☆ Steve Serio and Nicky Nieves named as Team USA flag bearers for 2024 Paralympic Games
▼ + stars: | 2024-08-23 | by ( Ariana Brockington | ) www.nbcnews.com time to read: +2 min

Athletes Steve Serio and Nicky Nieves have been selected as the Team USA flag bearers for the upcoming 2024 Paris Paralympic Games. The 2024 Games in Paris will mark his fifth Paralympics as he previously competed in the 2008 Beijing Paralympic Games, 2012 London Paralympic Games, 2016 Rio de Janeiro Paralympic Games and 2020 Tokyo Paralympic Games. Ahead of the Paris Paralympic Games, Team USA shared a video on Instagram of Serio, 36, taking a trip down memory lane as he revisited his headshots for past Games. The Team USA Instagram account shared a photo of Nieves posing alongside some of her USA women’s sitting volleyball teammates on Thursday. The 2024 Paris Paralympic Games begins with its opening ceremony on Aug. 28 and will end on Sept. 8.

Persons: Steve Serio, Nicky Nieves, Serio, Nieves, Peacock Organizations: Team USA, Paralympic Games, USA’s, Beijing Paralympic Games, Janeiro Paralympic Games, Tokyo Paralympic Games, Paris Paralympic Games, USA, Janeiro Games, USA women’s, Paralympic, Paris Paralympic, Concorde, Olympics Locations: Paris, Beijing, Rio, Tokyo, Serio, City of

☆ Markets are now wondering whether the Fed might cut by half a point in September
▼ + stars: | 2024-08-23 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Traders continued to price in a greater likelihood that the Fed will kick off what is expected to be a protracted easing campaign in September with a quarter percentage point, or 25 basis point, reduction. "My base-case scenario is that we are on a journey of 25 basis point cuts, probably for the next eight meetings, a couple hundred basis points cumulative," economist Paul McCulley said on CNBC's " Squawk on the Street ." "But if we see weaker growth, and particularly weaker jobs, then I think we could have a bit of front-loading and start the process with 50 basis point cuts." That, among other vows to support the economy now that inflation has waned, provided some indication that a 50 basis point move is at least on the table. Markets expect the central bank to knock off a full percentage point this year and at least that much in 2025.

Persons: Jerome Powell, Paul McCulley, Powell, Joseph LaVorgna, you've, Raphael Bostic, Bostic, Rick Rieder, Goolsbee Organizations: Federal, Traders, CME, Cornell, Georgetown, Fed, Nikko Securities, CNBC, Federal Reserve Bank of Chicago Locations: Powell's, Jackson Hole , Wyoming, Atlanta, Chicago

☆ Menendez’s Senate Replacement Has Been a Democrat for Just 5 Months
▼ + stars: | 2024-08-23 | by ( Tracey Tully | ) www.nytimes.com time to read: +1 min

When George Helmy is sworn in next month as Robert Menendez’s temporary replacement in the Senate, he will be joining a chamber where Democrats hold a razor-thin majority, outnumbering Republicans by a single seat, 50 to 49. Mr. Helmy was selected last week by Gov. Mr. Helmy, however, is new to the Democratic Party. Mr. Helmy will serve in Washington only through November. His appointment will return the Democratic majority to 51 members, as it was before Mr. Menendez resigned on Tuesday.

Persons: George Helmy, Robert Menendez’s, Helmy, Philip D, Murphy, Menendez, Tammy Murphy, New Jersey’s, Chuck Schumer, Biden Organizations: Senate, Gov, Democrat, Democratic Party, Democratic Senate, New, Democratic, Democrats Locations: Murphy of New Jersey, Morris County, N.J, Washington, New York

☆ How much money you need to be financially comfortable in 12 major U.S. cities
▼ + stars: | 2024-08-23 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

The phrase "financially comfortable" doesn't have a strict definition. In San Francisco, the net worth you'd need to feel "comfortable" is $1.5 million, according to a survey sample of 750 residents in that city — the highest amount cited among 12 major U.S. cities surveyed. Much of the difference in net worth thresholds between cities is due to shelter costs, especially in cities with severe housing shortages, like San Francisco, Los Angeles and New York City. While feeling "financially comfortable" is a subjective term, the survey makes a distinction between that and feeling "wealthy." For cities, it ranges from $4.4 million in San Francisco to $2.2 million in Dallas.

Persons: Charles Schwab's, that's Organizations: Wealth Survey, Boston, Denver, Seattle, Atlanta, Dallas, Houston, Phoenix, CNBC Locations: San Francisco, U.S, Franciscans, Francisco, California, Los Angeles, San Diego, York City, Washington, Chicago, San Francisco , Los Angeles and New York City, Dallas

☆ Bronfman's Paramount bid could keep Shari Redstone involved at the company
▼ + stars: | 2024-08-23 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

Edgar Bronfman Jr.'s offer for a controlling stake in Paramount Global could keep Shari Redstone close to the company, if his bid is successful. Both Bronfman's bid and Skydance's bid would also include money to buy out a percentage of Paramount Global common shareholders. At $6 billion, Bronfman's bid would give cash to about 20% of Class B holders at $16 per share. The Paramount Global special committee will determine if Bronfman's offer is a superior proposal for shareholders by Aug. 28. Spokespeople for Redstone, Bronfman, the Paramount Global special committee and Skydance all declined to comment.

Persons: Edgar Bronfman Jr, Shari Redstone, Bronfman, Sumner Redstone, Bronfman's, Skydance, Jon Miller, Skydance . Miller, —, Jason Ostheimer, Miller, Shari Redstone haven't, David Ellison Organizations: Paramount Global, Paramount, National Amusements, Skydance Media, Skydance, Redstone, Bronfman Locations: Bronfman, Miller, Redstone

☆ Microsoft plans September cybersecurity event to discuss changes after CrowdStrike outage
▼ + stars: | 2024-08-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Delta Air Lines , which said fallout from the outage cost the company $550 million, is seeking damages from CrowdStrike and Microsoft. Software from CrowdStrike Check Point , SentinelOne and others in the endpoint-protection market currently depend on kernel mode. But an application in kernel mode that fails can cause all of Windows to crash. The Microsoft executive said removing kernel access in Windows would only solve a small percentage of potential problems. "We will share further updates on these conversations following the event," Microsoft Corporate Vice President Aidan Marcuss wrote in a blog post.

Persons: CrowdStrike, Aidan Marcuss Organizations: Delta Airlines, Microsoft, Delta Air Lines, CNBC, Windows, Apple, Rust Foundation, Microsoft Corporate Locations: Los Angeles, Airlines, Redmond , Washington, SentinelOne, macOS

☆ Wall Street cheers Powell speech, but risks remain. This options trade capitalizes on a potential move lower
▼ + stars: | 2024-08-23 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +3 min

Federal Reserve Chair Jerome Powell's speech gave the stock market a jolt higher, reaffirming expectations for interest rate cuts going forward. Still, I believe the Fed will remain data dependent, which should temper euphoria and keep the S & P 500 in its 2024 range. I want to embrace this range and position accordingly for U.S. equites to again cool off going into September. Volatility has been the overarching theme for August, and I believe the recent uber-sensitivity to macro data will keep markets extraordinarily spastic. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: Jerome Powell's, equites, Powell Organizations: Nvidia, Fed, CNBC, NBC UNIVERSAL

☆ Kamala Harris, Hoping to Build Momentum, Plans Battleground State Tour Next Week
▼ + stars: | 2024-08-23 | by ( Reid J. Epstein | Katie Rogers | ) www.nytimes.com time to read: +1 min

Vice President Kamala Harris’s campaign for president is entering a new phase, shifting from a 33-day sprint to the convention to something more familiar: Preparing for a debate and pivoting to getting out the vote. On Friday afternoon, Ms. Harris plans to fly back from Chicago to Washington, where she will spend the weekend decompressing from the mind-spinning turn of events that led to her accepting the Democratic nomination for president on Thursday night. She will begin preparing for what will be her first national interview — which she has said will take place by the end of August — and for the Sept. 10 debate with Donald J. Trump, according to campaign officials briefed on her plans who were not authorized to reveal them before they are formally announced. The officials said Ms. Harris will return to the campaign trail next week with events in multiple battleground states, where she will aim to extend the enthusiasm generated at this week’s convention in Chicago.

Persons: Kamala Harris’s, Harris, —, Donald J, Trump Organizations: Democratic Locations: Chicago, Washington

☆ Nestle CEO departure seen as 'not such a bad thing' for investors, analyst says
▼ + stars: | 2024-08-23 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — Investors may think that the replacement of Nestle CEO Mark Schneider with company veteran Laurent Freixe is "not such a bad thing," analyst Jon Cox said Friday. "I think confidence has been severely hit in the case and particularly in Schneider," he told "Squawk Box Europe." "I presume most people will think it's not such a bad thing at this point for Schneider to go," he said. Freixe, who joined Nestle in 1986 and served most recently as executive vice president and CEO of the Latin America unit, will take over from Sept. 1. The company has struggled to retain market share as consumers have shifted away from labelled products amid inflationary pressures.

Persons: Mark Schneider, Laurent Freixe, Jon Cox, Cox, Kepler Cheuvreux, Schneider, Freixe, Laurent, Nestlé, Paul Bulcke Organizations: Nestle, Kepler, CNBC, America Locations: Schneider, London, Swiss

☆ NFL Draft 2025 Big Board: Will Johnson, Abdul Carter lead Dane Brugler’s initial top 50
▼ + stars: | 2024-08-21 | by ( Dane Brugler | ) www.nytimes.com time to read: +46 min

Position CB CB/WR DT Edge LB OT QB RB S TE WR iOL Class Jr. R-Jr. R-So. Photo: Jonathan Bachman / Getty Images OT Jr. 11 Benjamin Morrison CB Notre Dame Height: 6-0 Weight: 186 Class: Jr. Photo: Tim Warner / Getty Images CB Sr. 42 Barrett Carter LB Clemson Height: 6-0 Weight: 234 Class: Sr. Photo: Kevin C. Cox / Getty Images WR Jr. 50 Drew Allar QB Penn State Height: 6-4 Weight: 230 Class: Jr. Photo: Joe Robbins / Icon Sportswire via Getty Images QB Jr.(Illustration: John Bradford / The Athletic; Photos of Carson Beck, Will Johnson and Travis Hunter: Rich von Biberstein / Icon Sportswire via Getty Images; Gregory Shamus, Ryan Kang / Getty Images)

Persons: Will, Johnson, “ can’t, Devon Witherspoon, Derek Stingley Jr, Sauce Gardner, Thomas Shea, Abdul Carter, LaVar Arrington, NaVorro Bowman, Micah Parsons, Carter, Tom Allen, Scott Taetsch, Travis Hunter, Hunter, Deion Sanders, Ron Chenoy, Jr, Mason Graham, Graham, NFL hasn’t, Quinnen Williams, Williams, Bailey, James Pearce Jr, Pearce, Pierce, —, Donald Page, Tetairoa McMillan, McMillan, Malik Nabers, Rome Odunze, Jedd Fisch, Noah Fifita, Ivan Pierre Aguirre, Luther Burden, Burden, Theo Wease, Brady Cook, Johnnie Izquierdo, Carson Beck, Beck, Stetson Bennett, Brock Bowers, Matt Ryan, Megan Briggs, Starks, Bo Nix, hasn’t, Jamal Adams, Kim Klement Neitzel, Will Campbell, Campbell, Jonathan Bachman, Benjamin Morrison, Morrison, Darryl, Morrison’s, Matt Cashore, Shavon Revel Jr, Revel, wasn’t, Scott W . Grau, Emery Jones Jr, Joe Alt, Blake Fisher, Troy Fautanu, Roger Rosengarten, Caedan Wallace, Jones, Jones wasn’t, Julio Aguilar, Williams hasn’t, Travon Walker, ”, Jeff Blake, Edge, Kelvin Banks Jr, Banks, Steve Sarkisian, Bijan Robinson, Jonathon Brooks, Xavier Worthy, Adonai Mitchell, Nick Tre . Smith, Tyleik Williams, Joseph Maiorana, Deone Walker, Walker, Joe Robbins, Shedeur Sanders, Sandersmania, Sanders, Eli, Manning, “, Sr, Nic Scourton Edge, Scourton, Jeff Brohm, Zach Bolinger, Harold Perkins Jr, Perkins, Brian Kelly, Blake Baker, Baker, who’s, David Rosenblum, Colston, McCarthy, Sherrone Moore, Aaron J, Thornton, Jonah Savaiinaea, Savaiinaea’s, Savaiinaea, Louis, Kevin Langley, Quinn Ewers, Ewers, Ewers wasn’t, Ron Jenkins, Conner Weigman, Weigman, Jimbo Fisher’s, Fisher, Bobby Petrino, Collin Klein, Mike Elko, Maria Lysaker, Jeanty, Chris Williams, Ersery, isn’t, Jason Mowry, JT Tuimoloau, Tuimoloau, Matthew Visinsky, Lander Barton, Barton, Morgan Scalley, Cody, Jackson, Lander, Chris Gardner, Patrick Payton, Payton, Jermaine Johnson, Jared, Isaiah Vazquez, Kenneth Grant, Grant wasn’t, Grant, Troy Taormina, Mansoor Delane, Dorian Strong, Rich Schultz, Maxwell Hairston, Andru Phillips, Kentucky’s, Phillips, Hairston, Carly Mackler, Egbuka, Stroud, Marvin Harrison Jr, Garrett Wilson, Chris Olave, Rick Osentoski, Denzel, Burke, Tim Heitman, Ollie Gordon II, Gordon, Barry Sanders, Brian Bahr, QB Drake Maye, Rich von Biberstein, Ayomanor, Henderson, Danny Stutsman, Stutsman, Lincoln Riley, Brent Venables, Landon Jackson, Preston Smith, Petre Thomas, Jalon Walker, it’s, Quay Walker, Nolan Smith, Perry McIntyre, Jahdae Barron, Barron, Barron doesn’t, Tim Warner, Barrett Carter, Kirby Smart, Dabo Swinney’s, Ken Ruinard, Isaiah Bond, Bond, Jalen Milroe, Kevin C, Cox, Walter Nolen, Nolen, Ole Miss, Jack Sawyer, Sawyer, Dylan Buell, Darrell Jackson Jr, Don Juan Moore, Sam Brown, Cam Ward, Damien Martinez, Brown, Ken Murray, Deion Burks, Burks, Evan Stewart WR, Stewart, Dillon Gabriel, Drew Allar, Allar, Sean Clifford, Allar’s, Will Levis, John Bradford, Will Johnson, Gregory Shamus, Ryan Kang Organizations: NFL, Edge, Will Johnson, Michigan, Wolverines, Detroit, Washington, USA, Abdul Carter Edge, Penn, Indiana, Nittany Lions, Parsons, FCS Jackson State, FBS, Stanford, School, UCLA, Getty, SEC, Arizona, Missouri, Tigers, Bulldogs, Oregon, LSU, Benjamin Morrison CB Notre Dame, Notre Dame, CB, Carolina, Louisburg College, Getty Images, Penn State, Baton, NC, Longhorns, Cass Tech High School, Buffs, Nic Scourton Edge Texas, College, Purdue, Boilermakers, Colston Loveland, St, Wildcats, College Football, Texas, Aggies, Kansas State, Ashton Jeanty, Boise State, Gophers, JT Tuimoloau Edge, Utes, Utah, Patrick Payton Edge, Miami Northwestern, Seminoles, Florida State, Mansoor Delane CB Virginia, Hokies, Virginia Tech, Giants, Buckeyes, Buckeye, Denzel Burke CB, Ollie Gordon II RB, Oklahoma State, Hampton RB, Appalachian State, ACC, Hampton, America, Alabama, Clemson, Tide, Ole Miss, Jack Sawyer Edge, Ohio State, Maryland, Terps, Miami, Hurricanes, West, Houston, Cougars, Sooners, — Penn State Locations: Michigan, Colorado, Servite, Calif, North Carolina, Tennessee, Georgia , Missouri , Texas, Rome, Arizona, Washington, Oklahoma, Georgia, Theo Wease , Missouri, Athens, USA, Louisiana, Alabama , Michigan, Oregon, Winston, Salem, East Carolina, Baton Rouge, Austin, Texas, Ohio, Columbus, Detroit, Alabama, Kentucky, Lexington, Dollaz, Colston Loveland TE, Gooding , Idaho, Loveland, Ann Arbor, American Samoa, Honolulu, College, Boise, Kansas City, JT Tuimoloau Edge Ohio, Utah, Patrick Payton Edge Florida, Miami, C.J, Fort Worth , Texas, Canada, Massachusetts, Notre Dame , Tennessee, Palo Alto, Lincoln Riley and Oklahoma, Alabama’s, But Texas, Jack Sawyer Edge Ohio, Florida, Savannah, Ga, West Virginia

☆ Here's how a week's worth of huge economic news will affect the Fed's decision-making
▼ + stars: | 2024-08-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

We have to remember, the Fed made one mistake, the transitory" call on inflation, said Quincy Krosby, chief global strategist at LPL Financial. Specifically, the Fed is faced with how quickly and aggressively it should respond now that the inflation rate is waning . "Jay Powell says they don't want to be data point dependent, and I think that makes sense. I don't think you have signs of weakness in the economy. You don't have signs of inflation being controlled, and you don't have any signal for the Fed to switch focus."

Persons: Jerome Powell's, Jackson, Quincy Krosby, Krosby, Richard Clarida, nonfarm payrolls, Powell, Jay Powell, Clarida, we'll, Komal, Kumar, He's Organizations: Federal Reserve, Fed, LPL, CNBC, Sri, Kumar Locations: Jackson Hole , Wyoming

☆ CNBC Daily Open: Wall Street soars; Starbucks ousts CEO
▼ + stars: | 2024-08-14 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street soarsWall Street rose after producer prices came in softer than expected, raising hopes of a rate cut. Starbucks ousts CEOStarbucks surprised investors by replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol, driving Starbucks' stock up more than 24% while Chipotle fell as much as 10%. Under Narasimhan's tenure, Starbucks' performance has struggled, marked by weak sales in the U.S. and China, its two largest markets. The latest inflation data strengthens the market's expectations of an interest rate cut at the Fed's September meeting.

Persons: Laxman Narasimhan, Brian Niccol, Chipotle, Niccol, Richard McPhail Organizations: New York Stock Exchange, CNBC, Dow Jones Industrial, Nasdaq, Nvidia, Microsoft, Apple, Treasury, Starbucks, Google, Gemini, Federal Reserve, PPI Locations: New York City, U.S, China

☆ Thai court dismisses PM Srettha over cabinet appointment
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: +2 min

Srettha Thavisin, Thailand's prime minister, arrives at Thai Parliament in Bangkok, Thailand, on Monday, Sept. 11, 2023. BANGKOK - Thailand's Constitutional Court on Wednesday dismissed Prime Minister Srettha Thavisin for appointing to his cabinet a former lawyer who served jail time, raising the spectre of more political upheaval and a reset of the governing alliance. Real estate tycoon Srettha becomes the fourth Thai premier in 16 years to be removed by verdicts by the same court, after it ruled he violated the constitution by appointing a minister who did not meet ethical standards. Srettha had maintained his appointment of former Shinawatra lawyer Pichit Chuenban, who was briefly imprisoned for contempt of court in 2008 over an alleged attempt to bribe court staff, was above board. Deputy premier Phumtham Wechayachai is expected to take over as caretaker prime minister.

Persons: Srettha, Srettha Thavisin, Srettha's, Thaksin Shinawatra, Pichit Chuenban, Pichit, Phumtham Wechayachai Organizations: Thai, Party, Thai Party Locations: Thai, Bangkok, Thailand, BANGKOK

Google faces a reckoningShares in Alphabet, Google’s parent company, were down in premarket trading on Wednesday on news that the Justice Department is said to be considering breaking up the technology giant for maintaining an illegal search monopoly. That would be a devastating blow for the company, but it could also have huge ramifications for the broader tech sector, with Apple, Amazon and Meta all facing their own antitrust battles with the government. A recap: In a ruling last week, Judge Amit Mehta of the U.S. District Court for the District of Columbia agreed with the government and multiple states that Google’s dominance in search was constraining competition. Google said it would appeal. Mehta has asked both parties to submit suggested remedies by Sept. 4, with a hearing set to take place two days later.

Persons: Amit Mehta, Mehta Organizations: Google, Justice, Apple, U.S, District of Columbia

An Arkansas police officer who was caught on video beating a handcuffed inmate in the back of a patrol car has been fired and his case has been referred to prosecutors, the police chief said. Jonesboro Police Chief Rick Elliott fired Joseph Harris on Friday, a day after he was caught on his patrol car video elbowing and punching the handcuffed man and then slamming the car door on his head after the man choked himself with a seatbelt. He was apprehended by Harris and was being returned to the county jail when the assault occurred, Elliott said. I will gather the facts after the fact.”Coram is being detained at the Craighead County Jail on an escape charge and is wanted for extradition to Mississippi, a jail official said. Harris is a defendant in an ongoing lawsuit filed in June over a man who died in the Craighead County Jail this year.

Persons: Rick Elliott, Joseph Harris, Elliott, Billy Lee Coram, Harris, Coram, hadn’t, Coram “, ”, “, ” Harris, Sonia Hagood, Hagood, Cody Brooks, I’m, Harold Copenhaver, “ I’m, ” Elliott Organizations: Jonesboro Police, YouTube, NAACP Locations: Arkansas, Greene, Craighead, Mississippi

☆ Italian sprinter to be first transgender athlete at Paralympic Games
▼ + stars: | 2024-08-13 | by ( ) www.nbcnews.com time to read: +2 min

Valentina Petrillo is set to become the first openly transgender athlete to participate in the Paralympic Games after the visually impaired sprinter was selected to represent Italy in the women’s 200 and 400 meters races in Paris. The 50-year-old, who transitioned in 2019, won bronze medals in both events at the World Para Athletics Championships last year in Paris. Prior to transitioning, Petrillo won 11 national titles in the men’s category. International Paralympic Committee (IPC) President Andrew Parsons told BBC Sport that while Petrillo is welcome in Paris under World Para Athletics policies, he wants to see the sporting world “unite” on its transgender policies. However, the IPC allows governing bodies to set their own policies and World Para Athletics permits an individual legally recognized as a woman to compete in the category for which their impairment qualifies them.

Persons: Valentina Petrillo, Petrillo, ” Petrillo, “, ”, Andrew Parsons Organizations: Paralympic Games, World, Paris Games, International Paralympic Committee, BBC Sport, IPC, Para Athletics Locations: Italy, Paris, Tokyo, France

Starbucks is parting ways with its CEO and bringing in the head of Chipotle to lead the coffeeshop chain, as it seeks to revive flagging sales and appease outside investors. Starbucks announced Tuesday that Brian Niccol, who has led the Mexican-style chain since 2018, will take over the coffee giant starting next month. Laxman Narasimhan, who'd been with Starbucks for less than two years, is exiting the company. But in its release announcing the change, Starbucks said Niccol had "transformed" Chipotle. Starbucks CFO Rachel Ruggeri will step in as interim chief executive until Sept. 9, when Niccol officially takes over the top job.

Persons: Brian Niccol, Laxman Narasimhan, who'd, who’d, Chipotle, Niccol, Rachel Ruggeri, Scott Boatwright, Jack Hartung Organizations: Starbucks Locations: Mexican, U.S, China

☆ Allies want Trump to get on message and long Covid test proves elusive: Morning Rundown
▼ + stars: | 2024-08-13 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +10 min

A study on long Covid fails to bring researchers closer to finding a diagnostic test. Why there’s no test yet for long CovidAn estimated 17 million people have long Covid, but identifying people with the condition still can't be achieved with one diagnostic test, researchers said this week. So “clinicians are left to continue doing what we have done in the past,” which is to rule out other potential health conditions rather than diagnosing long Covid, they said. The study is part of the National Institute of Health’s RECOVER Initiative, a billion-dollar-plus effort launched in 2021 to research causes and treatments of long Covid. The Freedom Caucus added that in the event of a stopgap bill, funding should be “extended into early 2025” to avoid passing a funding bill that “preserves Democrat spending.” Both demands would spark a standoff with Democratic lawmakers.

Persons: Donald Trump, Kamala Harris, Trump, Harris, Kevin McCarthy, Joe Biden, Oleksandr Syrskyi, Vladimir Putin, Putin, Aleksei Smirnov, Karen Bass, S. Organizations: Los Angeles, Trump, Former, Fox News, Kremlin, Los Angeles —, Lacrosse, Flag Locations: Florida, Ukraine, Kursk, Ukrainian, L.A, Paris, Los Angeles, Angeles, 4 e

Starbucks announced Tuesday it's replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol as the coffee chain tries to reverse a sales slump. Before joining Starbucks, Narasimhan was chief executive of Reckitt, which owns brands like Lysol and Mucinex. Narasimhan's surprise ouster also suggests that Starbucks' board isn't interested in a deal with activist investors. When news of Elliott's stake in Starbucks first broke in July, the hedge fund offered Starbucks' board a settlement that would protect Narasimhan's job, CNBC previously reported. Starbucks' board did not initially respond or engage with Elliott for some time, driven in part by the lingering influence of Schultz.

Persons: Laxman Narasimhan, Brian Niccol, Rachel Ruggeri, Niccol, Narasimhan, Howard Schultz, Elliott, Chipotle, Mellody Hobson, shakeup, Brian, Hobson, he's, Bell, Narasimhan's, Schultz, Scott Boatwright, Jack Hartung Organizations: Starbucks, Elliott Management, Yum Brands, Bell, CNBC Locations: U.S, China, Chipotle, Pizza

☆ Who Is Brian Niccol, the Incoming Starbucks C.E.O. From Chipotle?
▼ + stars: | 2024-08-13 | by ( Danielle Kaye | ) www.nytimes.com time to read: +1 min

Starbucks unveiled an abrupt leadership change on Tuesday: Brian Niccol, a high-profile name in the restaurant industry, is taking the reins, after months of weak sales at the coffee giant and a falling stock price. Mr. Niccol will step in as chief executive next month, replacing Laxman Narasimhan, whose relatively brief stint in the top job at Starbucks began in March last year. The company’s chief financial officer, Rachel Ruggeri, will serve as interim chief executive until Mr. Niccol officially joins the company on Sept. 9. Mr. Niccol is coming off of six years at the helm of Chipotle Mexican Grill — a period that saw the fast-casual burrito chain nearly double its sales. The company’s stock price has increased about 800 percent since he took over in early 2018.

Persons: Brian Niccol, Niccol, Laxman Narasimhan, Rachel Ruggeri, Chipotle Organizations: Starbucks

☆ Starbucks Names Chipotle Boss as New C.E.O.
▼ + stars: | 2024-08-13 | by ( Danielle Kaye | More About Danielle Kaye | ) www.nytimes.com time to read: +1 min

The chief executive of Chipotle Mexican Grill is moving over to Starbucks, the coffee chain announced on Tuesday. Brian Niccol, who has held the top position at Chipotle since 2018, will take the helm of Starbucks next month, the company said. He will replace Laxman Narasimhan, whose relatively brief tenure began in March last year, when he became the first chief executive to come from outside the company. Mr. Niccol’s career also includes a stint as chief executive of Taco Bell. Mr. Narasimhan will step down as chief executive and board director immediately, with the chief financial officer Rachel Ruggeri stepping in as interim chief executive until Sept. 9.

Persons: Brian Niccol, Laxman Narasimhan, Niccol’s, Narasimhan, Rachel Ruggeri Organizations: Starbucks, Taco Bell Locations: Chipotle, United States, China

☆ Jim Cramer says incoming Starbucks CEO Brian Niccol has all the tools needed to fix the coffee chain
▼ + stars: | 2024-08-13 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Club holding Starbucks on Tuesday announced a home-run hire to lead the coffee giant out of its recent slump: Chipotle CEO Brian Niccol is replacing Laxman Narasimhan as the chief executive. Shares of Starbucks soared more than 13% in premarket trading on the news, to more than $87 each. Niccol will start at Starbucks on Sept. 9 and also serve as chairman of the board of directors. Narasimhan had served as Starbucks' CEO since March 2023. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Brian Niccol, Laxman Narasimhan, Jim Cramer, Laxman, Niccol, Narasimhan, Rachel Ruggeri, Jim Cramer's, Jim Organizations: Starbucks, Taco Bell, CNBC Locations: Taco, China

☆ George Santos wants jury pool in his fraud trial questioned over their opinions of him
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: +2 min

Rep. George Santos (R-NY) leaves the U.S. Capitol after his fellow members of Congress voted to expel him from the House of Representatives on December 01, 2023 in Washington, DC. Former U.S. Rep. George Santos wants potential jurors in his September fraud trial to be questioned about their opinions of him. They cite more than 1,500 articles by major news outlets and a "Saturday Night Live" skit about Santos. "For all intents and purposes, Santos has already been found guilty in the court of public opinion," the defense memo filed last week reads. The public perception of Santos, they argue, is also "largely a product of his own making" as he's spent months "courting the press and ginning up" media attention.

Persons: George Santos, Santos, Joaquín, he's Organizations: U.S, Capitol, Washington , DC, Former U.S . Rep Locations: Washington ,, Long, York, New York

☆ U.S. Said to Consider a Breakup of Google to Address Search Monopoly
▼ + stars: | 2024-08-13 | by ( David Mccabe | Nico Grant | ) www.nytimes.com time to read: +1 min

Google was found last week to have violated antitrust law by illegally maintaining a monopoly in internet search. They are discussing various proposals, including breaking off parts of Google, such as its Chrome browser or Android smartphone operating system, two of the people said. The government is meeting with other companies and experts to discuss their proposals for limiting Google’s power, the people said. Judge Amit P. Mehta of U.S. District Court for the District of Columbia has asked the Justice Department and Google to come up with a process for determining a fix in the case by Sept. 4. He has scheduled a hearing on Sept. 6 to discuss next steps.

Persons: Amit P, Mehta Organizations: Google, Justice Department, U.S, District of Columbia

☆ Wednesday's big CPI inflation report could mark a change in thinking for the Fed
▼ + stars: | 2024-08-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

watch nowThe PPI report, seen as a gauge of wholesale inflation, showed prices up just 0.2% in July and about 2.2% from a year ago. Still, investors are looking for the Fed at its September meeting to start cutting interest rates, considering that inflation is weakening and so is the labor market. Another benign inflation report "makes the Fed completely comfortable that they can shift their focus away from inflation and toward labor," said Tom Porcelli, chief U.S. economist at PGIM Fixed Income. There are cracks forming in the labor market backdrop." "I'm as curious about [Wednesday's] inflation report as anyone else, but I think it would take a real outlier to change the Fed's tune from 1) shifting to labor as its focus, and 2) seriously thinking about cutting in September," Porcelli said.

Persons: Jim Baird, Plante, Baird, Dow Jones, there's, Tom Porcelli, Porcelli Organizations: Walmart, Labor Department, Federal Reserve, Financial Advisors, PPI, Fed, Traders

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