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☆ Here's the inflation breakdown for May 2023, in one chart
▼ + stars: | 2023-06-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

The CPI is a key barometer of inflation, measuring prices of anything from fruits and vegetables to haircuts and concert tickets. Where consumers saw inflation, deflation in MayConsumers saw gasoline prices decline 5.6% between April and May, according to the CPI report. "Energy prices at this time last year were just absurd," Leer said. watch nowBut food and energy prices can be volatile. "The progress on core inflation has stalled out in recent months," said Greg McBride, chief financial analyst at Bankrate.

Persons: Michael M, Leer, Greg McBride, They're, Ben Bernanke, Olivier Blanchard Organizations: Lincoln Market, Santiago, Getty, U.S . Bureau of Labor Statistics, Consumers, CPI, Bureau of Labor Statistics, BLS, U.S . Federal Reserve, Peterson Institute for International Economics, Bankrate Locations: Prospect, Brooklyn, New York City, U.S, Ukraine

☆ Crypto prices stabilize after plunging on SEC crackdown jitters
▼ + stars: | 2023-06-12 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

The Binance website on a laptop arranged in the Brooklyn borough of New York, US, on Wednesday, June 7, 2023. The list of digital tokens deemed as unregistered securities by the Securities and Exchange Commission now spans over $120 billion of crypto after the US agencys lawsuits against Binance Holdings Ltd. and Coinbase Global Inc. The SEC sued Coinbase and Binance last week, accusing both of selling unregistered securities, among other charges. On Tuesday, the U.S. regulator alleged that Coinbase was operating as an unregistered exchange and broker, and that 13 assets listed on its platform were considered crypto asset securities. On Monday, it also accused Binance of inflating trading volumes, diverting customer funds and misleading customers about its controls, among others.

Persons: Gabby Jones, Coinbase, Ripple's XRP, Binance's, Binance Organizations: Securities and Exchange Commission, Binance Holdings, Coinbase Global Inc, Bloomberg, Getty, U.S . Securities, Exchange Commission, SEC, Polygon's Locations: Brooklyn, New York, U.S

☆ Here's where a possible sale of Bed Bath & Beyond and Buy Buy Baby stands
▼ + stars: | 2023-06-09 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

"Everything on Sale" signs at a Buy Buy Baby store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. The auction process for Bed Bath & Beyond and its assets was extended once again as discussions progress with potential bidders, namely for its Buy Buy Baby chain of stores. In court papers filed Thursday, Bed Bath & Beyond said it would delay its sale timeline by a few days "to ensure the most value maximizing transaction is achieved." The assets of the baby gear retailer Buy Buy Baby had earlier attracted interest from at least two bidders, including Babylist, CNBC previously reported. Buy Buy Baby has been considered the crown jewel of the assets, reportedly attracting interest in 2022 and in the months ahead of the bankruptcy filing.

Persons: Janie, Jack Organizations: Babylist, CNBC, Street Locations: Brooklyn, New York, Bath

☆ Consumers are more likely to cut back on restaurant visits than trade down to fight inflation, report says
▼ + stars: | 2023-06-02 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

People sit outdoors at the Petite Crevette Restaurant on June 05, 2021 in the Brooklyn borough of New York City. During the Great Recession, consumers hunted for bargains, trading down to cheaper restaurants or picking the least expensive menu options. But today, as inflation puts pressure on their wallets, consumers are more likely to cut back on their restaurant visits instead to preserve their budgets, according to a report from AlixPartners. In April, prices for food away from home rose 8.6% compared with the year-earlier period, according to the Bureau of Labor Statistics. Back in January 2009, just 12% of respondents said they would eliminate or reduce visits to cut back on their restaurant spending.

Persons: Andrew Sharpee Organizations: Bureau of Labor Statistics, Intelligence, AlixPartners Locations: Brooklyn, New York City, AlixPartners

☆ Buy Buy Baby draws sale interest in Bed Bath & Beyond bankruptcy, one bidder looks to save stores
▼ + stars: | 2023-06-02 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +7 min

A Buy Buy Baby store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. That's where Buy Buy Baby – and its long-held name recognition – would come in. "We have tremendous trust with new and expecting parents but Buy Buy Baby is much better known with kind of that older generation," she said. The crown jewel of Bed Bath & BeyondThis is not the first time Buy Buy Baby has seen sale interest. Buy Buy Baby has remained a bright spot in Bed Bath & Beyond's otherwise dismal earnings reports in recent years.

Persons: Stephanie Keith, Natalie Gordon, It's, Gordon, Babylist, it's, –, Ryan Cohen, Chewy, Cohen Organizations: Bloomberg, Getty, Bed, CNBC, Capital Advisors, GameStop, & $ Locations: Brooklyn, New York, Bed Bath, Beverly Hills , California, Bath

☆ Target and Disney trip up on the Pride divide
▼ + stars: | 2023-05-31 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

[1/2] A shopping cart is seen in a Target store in the Brooklyn borough of New York, U.S., November 14, 2017. REUTERS/Brendan McDermid/File PhotoNEW YORK, May 31 (Reuters Breakingviews) - Target (TGT.N) and Walt Disney (DIS.N) are fighting different battles over a similar social issue. Of the two, retailer Target has the harder balancing act. The $62 billion retailer run by Brian Cornell last week decided to pull some items from its 2023 collection celebrating Pride Month. Some of Disney’s employees were upset by the regulation and Iger took a stand on their behalf.

Persons: Brendan McDermid, Walt Disney, Brian Cornell, ”, Bob Iger, Ron DeSantis, Iger, Marjorie Taylor Greene, John Foley, Sharon Lam Organizations: REUTERS, Reuters, Target, Pride, Disney, Sunshine, Cornell, Walt Disney, Fox News, Thomson Locations: Brooklyn, New York, U.S, Florida, Orlando, UK

☆ Restaurant prices are rising faster than grocery prices for the first time since inflation ran hot
▼ + stars: | 2023-04-12 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

For the first time since inflation began accelerating in mid-2021, restaurant prices outpaced grocery prices on a 12-month basis, according to the Labor Department. For months, restaurant CEOs like Cheesecake Factory's Matthew Clark and Wendy's Todd Penegor have touted their meals as a relative bargain compared with eating at home, based on consumer price index data. March food prices rose 8.5% over the last 12 months, fueled by the jump in the cost of eating away from home, which was up 8.8% over that period. The National Restaurant Association's chief economist, Bruce Grindy, attributed the increase to the surge in food prices at schools as free lunch programs instituted during the Covid pandemic expired. The overall consumer price index has risen 5% over the last 12 months as inflation continues to cool.

☆ How Amazon virtual health clinic's top doctor thinks about patients as customers
▼ + stars: | 2023-04-06 | by ( Ian Thomas | ) www.cnbc.com time to read: +6 min

In 2018, it bought online pharmacy PillPack for $750 million, which it followed up by launching its own virtual clinic for chronic conditions. Now Amazon Clinic, which launched in November, is looking to open up a new option for virtual care to help with common issues like allergies, acne and hair loss. That hasn't come without some setbacks – Amazon Care, its effort to take on telemedicine and primary care for the employer market nationwide, was shut down in August after just three years. Health care, he said, can at times be correctly described as paternalistic. "Care can be a thing that we do to patients rather than with patients or for patients," Ayogu said.

Michael M. Santiago | Getty ImagesThere's one group of people that's being disproportionality hurt by high inflation: women. First, a jump in child care prices has started to pressure women out of the workforce. Child care inflation, which has increased 214% from 1990 to 2022, has outpaced average family income gains, which have risen 143%. Surprisingly, over 50% of parents spend over 20% of their income on child care in the US." Women and minorities are underrepresented in higher-wage industries, such as technology or finance, that are more insulated from inflation pressures, Gosai noted.

☆ Stocks making the biggest moves midday: Bed Bath & Beyond, EVgo, UBS and more
▼ + stars: | 2023-03-30 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

A Bed Bath & Beyond store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. Bed Bath & Beyond Inc. said it would shutter another 87 stores in addition to the 150 closures it announced in August. Juniper Networks — The cloud computing network provider added 1.3% on the back of an upgrade to outperform from in line by Evercore ISI. Crocs — Shares rose 3% after B. Riley initiated coverage of the stock as a buy, saying the shoe company is underappreciated. Interpublic Group of Companies — The advertising agency gained 3% following an upgrade to buy from neutral by Bank of America.

☆ TikTok's ad business is growing around live sports as platform faces possible U.S. ban
▼ + stars: | 2023-03-23 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

The social media platform has been under scrutiny from the U.S. government and faces a possible ban. But the company is nonetheless attracting billions of dollars in advertising revenue as major companies look to reach a younger audience. Hyundai prioritized TikTok this year as many automakers bypassed TV advertising during the Super Bowl to preserve cash or spend on ads elsewhere. TV ads drew more than $7 million for 30-second spots during this year's Super Bowl on Fox's broadcast network. While this makes up about 2% of overall digital advertising spending, the growth of the spending for the platform has been rapid.

Nike said its apparel inventory fell in the third quarter and expects to end fiscal 2023 with "healthy" inventory levels. Sales in Greater China fell about 8% even as the country eased pandemic-related restrictions, which is expected to benefit the company in the near term. Nike now expects reported revenue for the full year to increase in the high-single-digit range, compared with its previous forecast of growth in the mid single digits. In the fourth quarter, the company expects flat to low-single-digit revenue growth, compared with estimates of a 2.42% rise, according to IBES data from Refinitiv. Nike posted revenue of $12.39 billion in the third quarter beating estimates of $11.47 billion and reported a profit of 79 cents per share above estimates of 55 cents.

☆ Novo Nordisk to slash U.S. insulin prices by up to 75%, following move by Eli Lilly
▼ + stars: | 2023-03-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Novo Nordisk Inc. NovoLog brand insulin pens are arranged for a photograph in the Brooklyn borough of New York, U.S., on Friday, April 5, 2019. Novo Nordisk, one of the world's biggest insulin makers, will cut the list price of its NovoLog insulin by 75% and the prices for Levemir and Novolin by 65%, the company said in a press release. NovoLog's list price will fall to $139.71 from $558.83 for a pack of five injection pens. The company also said it plans to reduce the list price of its unbranded insulin products to match the lowered price of each respective branded insulin. Novo Nordisk, Lilly and Sanofi control over 90% of the global insulin market.

☆ What's next for Disney and Ford? Here's our view on the latest news on both Club stocks
▼ + stars: | 2023-03-02 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Walt Disney (DIS) and Ford Motor (F) could both be at inflection points. Here's the latest news on both Club holdings as of Thursday, and our take on where things stand. Iger simultaneously unveiled a comprehensive restructuring program, part of a larger effort to make its beleaguered direct-to-consumer (DTC) unit — which includes streaming platforms Hulu, Disney+ and ESPN+ — profitable. Citi reiterated a buy rating on Disney stock and a price target of $130 per share. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Alligator captured in Brooklyn's Prospect Park Lake
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] Members of the Parks Enforcement Patrol and Urban Park Rangers capture an alligator from a lake in Prospect Park in the Brooklyn borough of New York City, U.S., February 19, 2023. Courtesy of NYC Parks/Handout via REUTERSFeb 20 (Reuters) - New York City park staff stumbled across a sickly alligator in Brooklyn's Prospect Park this weekend, the Parks Department said, and rangers captured the lost reptile and brought it to the Bronx Zoo for care. Park maintenance staff found the alligator in Prospect Park Lake on Sunday morning, in the heart of the concrete jungle, and noted that it appeared lethargic and in a state of cold shock. The New York City Parks department issued a public warning against releasing non-native animals into the city's environment, which is illegal. New York City Urban Park Rangers respond to about 500 calls regarding animals in poor condition each year.

☆ Kraft Heinz issues soft profit guidance after price increases boost revenue
▼ + stars: | 2023-02-15 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +2 min

Kraft Heinz Co. is scheduled to release earnings figures on July 27. Kraft Heinz on Wednesday beat Wall Street's earnings and sales expectations, but offered soft profit guidance for the year, a sign of rising pressure from higher costs. Kraft Heinz boosted pricing 15.2% with a 4.8% decline in volume. Despite beating on revenue and EPS, Kraft Heinz earnings contrast with companies such as Oreo maker Mondelēz International , which saw little demand pushback despite price increases. Kraft Heinz launched a campaign titled "LVII Meanz 57," protesting the use of Roman numerals, ahead of Super Bowl 57.

☆ Man hit by truck driver in Brooklyn rampage dies of head injury
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Shannon StapletonNEW YORK, Feb 14 (Reuters) - One of the nine people struck by a man driving a U-Haul truck in New York City has died from his injuries, police said Tuesday. One of the driver's victims was a 44-year-old man who suffered head injuries and was declared dead at a nearby hospital, police said. The suspect is being held in a city jail and is expected to make his first appearance in court on Tuesday. The son said his father had been living in Las Vegas and was surprised when he appeared in New York City last week. Reporting by Jonathan Allen in New York; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ New York U-Haul truck strikes 8 people, driver arrested
▼ + stars: | 2023-02-13 | by ( Tyler Clifford | ) www.reuters.com time to read: +3 min

NEW YORK, Feb 13 (Reuters) - Police in New York City have arrested a U-Haul truck driver accused of deliberately plowing into pedestrians on Monday, injuring at least eight people before officers chased him down and stopped the vehicle, authorities said. But the New York Times, citing two senior law enforcement officials speaking on condition of anonymity, gave the driver's name as Weng Sor. [1/3] A New York Police Department vehicle blocks a U-Haul rental vehicle, where according to media reports a man struck multiple people and the NYPD took the driver into custody, near the Battery tunnel in the Brooklyn borough of New York City, U.S., February 13, 2023. A video clip aired on WABC-TV showed a truck narrowly missing a pedestrian on a sidewalk, with a police cruiser in pursuit. Attorneys at the Saipov penalty proceedings briefly discussed the Brooklyn U-Haul rampage while the jury was out of the courtroom.

☆ Truck in New York strikes pedestrians, police apprehend driver
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, Feb 13 (Reuters) - New York police took the driver of a truck into custody on Monday after the vehicle struck at least one pedestrian while attempting to evade officers during a traffic stop in the city's Brooklyn borough, the New York Police Department said. At least four people were injured, including a man in his 30s who was taken to the hospital in critical condition after being struck by the U-Haul rental vehicle, WABC-TV reported. The New York Police Department declined to offer additional details, saying an investigation was underway. Reporting by Tyler Clifford; Editing by Chizu Nomiyama and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Martin Shkreli: I'm not in contempt over drug industry ban
▼ + stars: | 2023-02-10 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

The ban also included a $64.6 million civil fine, which Shkreli said he is "so far unable" to pay. He said he intended to comply fully with the ban and provide requested information. The FTC had accused Shkreli last month of failing to provide information about Druglike Inc, a company it said he formed last July. He also said Druglike and DL Software were "software companies creating professional software for chemists and physicists," and thus outside his pharmaceutical industry ban. U.S. District Judge Denise Cote, who imposed the ban and $64.6 million penalty, will decide the FTC contempt motion.

☆ Bed Bath & Beyond lines up funding in a last-ditch bid to avoid bankruptcy
▼ + stars: | 2023-02-07 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +2 min

A Bed Bath & Beyond store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. Bed Bath & Beyond will live to see another day – at least for now. Bed Bath will receive $225 million in the offering up front plus an additional $800 million in proceeds over time, the company said. Whatever's left over will be used to aid Bed Bath's attempt at a turnaround, the company said. The efforts have evidently failed thus far, forcing Bed Bath to go to the public markets for funding.

☆ Hispanic dialysis patients face 40% higher risk of staph infection than whites, CDC says
▼ + stars: | 2023-02-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Hispanic dialysis patients face a 40% higher risk of developing a staph bloodstream infection compared with whites, underscoring economic and racial disparities in the U.S. health-care system, according to new data released Monday by the Centers for Disease Control and Prevention. People of color, however, face an even higher risk of kidney failure, representing more than half of dialysis patients. Black and Hispanic people on dialysis were also more likely to contract staph infections than white patients, the CDC said. The data analyzing dialysis patients from 2017 to 2020 didn't clearly calculate the increased risk for Black patients. Hispanic patients, however, faced a 40% higher risk of staph infection than whites, according to the CDC.

☆ NBCUniversal expects Peacock losses to peak this year as streamer slowly adds subscribers
▼ + stars: | 2023-01-26 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

The NBCUniversal Inc. Peacock streaming service is displayed on a laptop computer in an arranged photograph taken in the Brooklyn Borough of New York, U.S., on Monday, April 20, 2020. Streaming service Peacock has slowly been taking flight with consumers. Like its peers, Comcast has been investing in its streaming platform by putting more of its content on Peacock. Company executives said Thursday Peacock losses will peak in 2023 at around $3 billion, but expect it to steadily improve after that. And besides that, propping up Peacock with NBCUniversal content from its linear networks also only helps to accelerate its bleeding of Comcast's cable-TV customers.

☆ Amazon adds generic prescription perk for Prime members
▼ + stars: | 2023-01-24 | by ( Annie Palmer | ) www.cnbc.com time to read: +2 min

The Amazon Pharmacy home screen on a laptop computer arranged in the Brooklyn Borough of New York, U.S., on Tuesday, Nov. 17, 2020. Amazon on Tuesday announced a new prescription perk for U.S. Prime members, hoping to boost subscriptions and attract users to its pharmacy service. Amazon introduced, then shuttered, a telehealth service called Amazon Care, and announced in July it would acquire boutique primary care provider One Medical. Amazon also offers a Prime prescription savings benefit, which offers a discount of up to 80% on generic medications and up to 40% on brand-name prescriptions. An August report from Morgan Stanley found Amazon Pharmacy didn't rank as a top perk for Prime members, based on a survey of users, according to Business Insider.

☆ U.S. asks judge to hold Shkreli in contempt for allegedly flouting pharma industry ban -filing
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] Former drug company executive Martin Shkreli exits U.S. District Court after being convicted of securities fraud, in the Brooklyn borough of New York City, U.S., August 4, 2017. REUTERS/Carlo AllegriWASHINGTON, Jan 20 (Reuters) - The U.S. Federal Trade Commission (FTC) asked a federal judge on Friday to hold Martin Shkreli in contempt for allegedly impeding its efforts to determine whether he flouted a ban on working in the pharmaceutical industry. Shkreli was released early from prison last May. U.S. District Judge Denise Cote imposed the lifetime drug industry ban and $64.6 million penalty last February, related to Shkreli's efforts to keep generic Daraprim rivals off the market. Reporting by Diane Bartz and Jon Stempel; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

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