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☆ Bob Menendez: Trump circus overshadows senator’s corruption trial
▼ + stars: | 2024-05-21 | by ( Gregory Krieg | ) edition.cnn.com time to read: +8 min

So it goes for Menendez, who is likely pleased to have his legal drama playing out in relative obscurity. More recently, Fetterman mocked the senator’s defense, which relies in part on pointing the finger of blame on Nadine Menendez, his wife. Republicans in Washington, as they’ve done during these first two weeks of the Menendez trial in New York, have been consistently deferential to the New Jersey Democrat. Rep. Andy Kim, a popular Democrat from South Jersey, is expected to win the nomination to succeed Menendez. Andrew Giuliani, pressed for a thought on the senator’s trial or the allegations against him, shrugged.

Persons: New York CNN — Andrew Giuliani, Donald, ”, Rudy Giuliani squinted, “, ” He’s, Sen, Bob Menendez’s, –, Michael Cohen, Daniels, Menendez, Trump, Donald Trump Jr, Attorney Alvin Bragg, Ronny Jackson, Bob Costello, Pam Bondi, Missouri Sen, Eric Schmitt, Matt Whitaker, Sebastian Gorka, Gov, Dan Patrick, Jackson, María Elvira Salazar, Troy Nehls, Dale Strong, Daniel Webster of, Vladimir Putin’s, Cory Booker, Chuck Schumer, John Fetterman, George Santos, Fetterman, Nadine Menendez, ” Fetterman, Jake Tapper, Mitch McConnell, ” North Dakota Sen, Kevin Cramer, he’s, Andy Kim, Andrew Giuliani, haven’t, ” CNN’s Sabrina Souza Organizations: New, New York CNN, New York, Manhattan Criminal, Court, Republican, Democrat, The New, The New Jersey Democrat, Foreign Relations, Trump, Democratic, Manhattan, Attorney, Texas, Dale Strong of, Pennsylvania Democrat, New York Rep, “, Union, ”, Republicans, New Jersey Democrat, Democrats, GOP, ” North, Politico Locations: New York, Lower Manhattan, Manhattan, The, The New Jersey, Menendez’s, Florida, Sebastian Gorka , Texas, María Elvira Salazar of Florida, Texas, Dale Strong of Alabama, Daniel Webster of Florida, North Korea, Vladimir Putin’s Russia, New Jersey, Pennsylvania, Washington, Egypt, ”, “ State, Israel, ” North Dakota, South Jersey, New York City

☆ Jamie Dimon is worried about how much the US is borrowing. Here’s why
▼ + stars: | 2024-05-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —Major business leaders and economists are worried about America’s growing debt problem. Last week, JPMorgan CEO Jamie Dimon expressed fear that a crisis is looming and that unchecked deficit spending could explode. The big picture: Between the Trump-era tax cuts and Covid-era stimulus programs, the national debt has exploded in recent years. Trump Media (DJT) reported a loss of $327.6 million during the first three months of the year, compared with a loss of $210,300 a year earlier. The company generated just $770,500 of revenue, marking the second-straight quarter where its revenue totaled less than $1 million.

Persons: Jamie Dimon, ”, ” Dimon, “, Ray Dalio, Columbia Business School Glenn Hubbard, Joe Biden’s, Jason Thomas, Carlyle, ” Thomas, Hanna Ziady, Liz Truss, Treasuries, Hubbard, Thomas, it’s, Donald Trump, Matt Egan, Devin Nunes, Martin Gruenberg, Elisabeth Buchwald, ” Gruenberg, Sen, Sherrod Brown, Gruenberg, He’s, Cleary Gottlieb Steen, Gruenberg’s, Gruenberg Organizations: CNN Business, Bell, New York CNN —, JPMorgan, Sky News, Financial, Columbia Business School, United, CNN, IMF, Congressional, Office, Peterson Foundation, Treasury, Trump Media, Trump Media & Technology Group, Truth Social, Company, Big Tech, ” Trump Media, Federal Deposit Insurance Corporation, Senate Banking Committee, FDIC, Hamilton Locations: New York, Bridgewater, United States, —, United, United Kingdom

☆ Peloton ‘paused the use of’ Sean ‘Diddy’ Combs’ music on its platform
▼ + stars: | 2024-05-21 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Peloton said it has paused the use of music recorded by Sean “Diddy” Combs on its workout class platform in response to a member of a private Facebook group for Peloton users. In the comment posted on Monday, the company said it also removed the Bad Boy Entertainment Artist Series, a line of classes and workouts using music from a record label founded by Combs, on its platform. “This means our Instructors are no longer using his music in any newly produced classes,” Peloton said in the post. I take full responsibility for my actions in that video,” Combs said in a video statement posted on Instagram on Sunday. In 2022, Peloton said it “indefinitely paused” playing Kanye West’s music from its streaming workout classes after he made antisemitic comments.

Persons: Sean “ Diddy ” Combs, Combs, — Cassie Ventura, ” Combs, “, Kanye, Buddy, CNN’s Jordan Valinsky, Alli Rosenbloom, Elizabeth Wagmeister Organizations: New, New York CNN, Bad Boy, CNN, Ventura Locations: New York

☆ How Red Lobster choked on its own Endless Shrimp deal
▼ + stars: | 2024-05-21 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

First, Red Lobster got screwed by private equity. Back in 2014, the Darden restaurant group spun off Red Lobster to a private equity firm. Thai Union, under Kenny’s direction, elbowed out other shrimp suppliers, “leaving Thai Union with an exclusive deal that led to higher costs to Red Lobster,” according to the filing. And if you’re the exclusive provider of shrimp to America’s biggest seafood chain, what’d be better than making that limited-time all-you-can-eat shrimp deal a permanent menu item? The all-you-can-eat shrimp deal alone didn’t doom Red Lobster, but boy did it do some damage at a time when the chain was already buckling.

Persons: Nathaniel Meyersohn, ”, Management wasn’t, Jonathan Tibus, Tibus, Paul Kenny, Kenny Organizations: New, New York CNN, Darden, Management, Thai Union, CNN Locations: New York, foundering, Bangkok, Thai

☆ Children continue to work at poultry processor, Labor Department says, even after teen worker’s recent death
▼ + stars: | 2024-05-21 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

New York CNN —Children have again been found working at a Mar-Jac Poultry slaughterhouse, according to the US Department of Labor. The latest discovery in Alabama comes less than a year after a teen worker was killed at a company facility in Mississippi. The DOL’s recent allegation follows an incident last year in which a teen died at a Mar-Jac facility in Mississippi. According to Mar-Jac Poultry Alabama’s website, “Mar-Jac Poultry does not sell to the general public, individual restaurants or convenience stores. The Labor Department has lately been trying to crack down on incidents of child labor, especially at meatpacking facilities.

Persons: DOL, ”, Mar, Jac, “ Mar, “, Jac Poultry, —, Kavilanz, Amy Simonson Organizations: New, New York CNN, Jac, US Department of Labor, CNN, Mar, Labor, Fair Labor, ABC News, Occupational Safety, Health Administration, The Labor Department, Department of Labor, Health, Human Services Locations: New York, Alabama, Mississippi, Mississippi , Alabama, Georgia, Alabama and Mississippi, DOL, Fayette

☆ Nestlé is releasing a lineup of frozen food for people on Ozempic and other GLP-1 drugs
▼ + stars: | 2024-05-21 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —Nestlé, the maker of frozen food brands like Stouffer’s and DiGiorno, is slimming down with a new line of meals for people taking GLP-1 drugs, such as Ozempic, for weight loss. However, a recent study on Wagovy significantly reduced heart risk in addition to helping with weight loss. An example of Vital Pursuit food. It also made a $100 million-plus deal to buy Sequence, a telehealth business that offers virtual prescriptions to patients for these weight loss drugs where appropriate. Food companies, like Nestlé, are also bracing for GLP-1 consumers to buy fewer sugary snacks and drinks.

Persons: New York CNN — Nestlé, It’s, Morgan, Steve Presley, Neil Saunders, Nestlé, it’s “, Saunders, ”, “ Nestlé, Sesame, WeightWatchers, ” Saunders, CNN’s Nathaniel Meyersohn Organizations: New, New York CNN, North, GlobalData, Lean, CNN, Companies, Costco, Equinox Locations: New York

☆ Taylor Swift fans are causing a spike in European air travel, United says
▼ + stars: | 2024-05-21 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

The official kickoff for summer this weekend is going to get even busier, thanks in part to Taylor Swift. Bookings to other European cities where’s she’s performing in the coming weeks, including Madrid, Edinburgh and Dublin, are also surging, a United representative told CNN. United’s flights to Milan and Munich for Swift’s shows in July have captured the biggest increase in demand – upwards of 45% more passengers compared to last year. Delta Air Lines told CNN demand is on the rise for flights to her European tour. Airlines for America, a group representing major US airlines, predicts record numbers of passengers this summer, with carriers expected to fly 270 million passengers — up 6% from last year.

Persons: Taylor Swift, Swift, ”, Chicago’s O’Hare, United, ‘ Swiftonomics ’, “, Elvis, Beatlemania, Dr, Peter Brooks, Anna Cooban Organizations: New, New York CNN, Air, United Airlines, United, CNN, Houston . Delta Air Lines, Airlines for America, Barclays Locations: New York, Lisbon, Portugal, Europe, Madrid, Edinburgh, Dublin, Milan, Munich, East, Newark, Dulles, San Francisco, Denver, Houston, Delta, United Kingdom

☆ Jamie Dimon could step down sooner than expected. Here’s who could run the country’s biggest bank
▼ + stars: | 2024-05-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —JPMorgan Chase CEO Jamie Dimon has bumped up his retirement plans, the longtime head of America’s largest bank said Monday. Over the course of his tenure at JPMorgan Chase, he’s become somewhat synonymous with the largest US bank by assets. But Dimon can’t lead forever, and at 68 years old, the question of succession has grown more important. “Everyone knows they’re going to die, but at one point it’s right here and you realize it’s true and it’s true maybe sooner than you think,” Dimon said. “And so it’s nice to end every day by saying, ‘That was a good day.’ Every meeting, that was a good meeting.

Persons: Jamie Dimon, Dimon, he’s, —, ” Dimon, “, can’t, ”, “ Dimon, Marianne Lake, Jennifer Piepszak, Piepszak, Troy Rohrbaugh, Rohrbaugh, Mary Erdoes, Jeremy Barnum, Daniel Pinto, COOs Gordon Smith, Smith, what’s, hasn’t Organizations: New, New York CNN, JPMorgan, JPMorgan Chase, Bank of America, CNN, Bloomberg Locations: New York

☆ Wilson deal: Caitlin Clark just did something no athlete has done since Michael Jordan
▼ + stars: | 2024-05-21 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Breakout basketball star Caitlin Clark has a new achievement that hasn’t been accomplished since Michael Jordan. The WNBA player signed a multiyear deal with Wilson Sporting Goods Co., the league’s official basketball supplier, for “signature basketball collections celebrating Clark’s continued legacy,” the company announced Tuesday. In addition, she will “creatively direct her first-ever signature basketball line” that will roll out later this year. Wilson, which has produced the basketballs for the NBA for several decades, became the official game ball of the WNBA in 2020. Nike is also reportedly on the verge of signing Clark to design her shoe line, but no official deal has been formally announced.

Persons: Caitlin Clark, hasn’t, Michael Jordan, Clark’s, Wilson, Clark, “ Wilson, ” Clark, ” Organizations: New, New York CNN, WNBA, Wilson Sporting Goods Co, CNN, NBA, Indiana Fever, ESPN2, ESPN, Nike, Farm, Gatorade, Panini Locations: New York

☆ Target is cutting prices on up to 5,000 items to lure back inflation-wary shoppers
▼ + stars: | 2024-05-20 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Target has slashed prices on more than 1,500 popular items beginning immediately, ranging from butter to laundry detergent, as the retailer attempts to attract inflation-wary shoppers turned off by high prices. Prices have dropped effective Monday, with “thousands more price cuts” — amounting to 5,000 items — being reduced over the summer, the retailer announced. Retail sales growth has taken a hit because of high prices: Last month, retail sales were unchanged from March, when spending increased by a downwardly revised 0.6%, the Commerce Department recently reported. By comparison, a year ago, retail sales surged by 3%. In response, Target recently created a new house brand called Dealworthy to take on dollar stores and Walmart.

Persons: Sarah Wyeth Organizations: New, New York CNN — Target, Ikea, Aldi, Shoppers, CNN, Commerce Department, Target, Walmart Locations: New York

☆ Creating an income-producing portfolio
▼ + stars: | 2024-05-20 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

A lot goes into creating and managing an income-producing portfolio that works for you. Knowing your expenses will give you a good sense of the income you’ll need. Ways to generate incomeTake the income you think you’ll need and subtract from that the income you expect. For example, if you need $65,000 a year but will only bring in $40,000, you’ll need to generate the other $25,000. • For money you’ll need in three to five years, use short-term corporate bonds as well as longer-term CDs.

Persons: it’s, Will, David Seufer, you’ll, Marguerita Cheng, ”, David Edmisten, Edmisten, Cheng, ” Seufer, “, ” Edmisten, Seufer, they’re, ” Cheng Organizations: New, New York CNN, Gravitas, Social Security, Blue, ” Capital, Social Locations: New York

☆ OpenAI puts flirty ChatGPT voice that sounds like ScarJo in ‘Her’ on hold
▼ + stars: | 2024-05-20 | by ( Brian Fung | Clare Duffy | ) edition.cnn.com time to read: +4 min

New York CNN —OpenAI says it’s hitting the pause button on a synthetic voice released with an update to ChatGPT that prompted comparisons with a fictional voice assistant portrayed in the quasi-dystopian film “Her” by actor Scarlett Johansson. “We’ve heard questions about how we chose the voices in ChatGPT, especially Sky,” OpenAI said in a post on X Monday. A spokesperson for the company said that structure would help OpenAI better achieve its safety objectives. OpenAI President Greg Brockman responded in a longer post on Saturday, which was signed with both his name and Altman’s, laying out the company’s approach to long-term AI safety. “We have raised awareness of the risks and opportunities of AGI so that the world can better prepare for it,” Brockman said.

Persons: New York CNN — OpenAI, Scarlett Johansson, OpenAI, “ We’ve, ” OpenAI, “, Desi Lydic, ”, ” Lydic, Joaquin Phoenix, Everett, Sam Altman, Johansson, Jan Leike, Ilya Sutskever, Altman, Leike, Greg Brockman, ” Brockman Organizations: New, New York CNN, Daily, Warner Bros ., White, CNN Locations: New York, ChatGPT, OpenAI

☆ Why Jay Powell really wants to lower interest rates this September
▼ + stars: | 2024-05-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

It’s interesting to me that the equity market is cheering the idea that the Fed is going to be cutting rates. There tends to be a fine line between cutting rates and extending the economic cycle or cutting rates because the cycle is coming to an end (and the economy is softening). When the Fed is cutting rates, it’s cutting rates because a recession is about to happen, right? That’s why I say there’s a fine line between the Fed cutting to extend the cycle and the Fed cutting because a recession is about to happen. The Fed has been in this precarious space where they’re trying to avoid recession while lowering interest rates.

Persons: Dow, stoking, Bell, Tom Porcelli, Jerome Powell, Jay Powell, they’re, that’s, Donald, Goofy, Eva Rothenberg, Mickey Mouse, Snow White, Captain Hook, ”, Kate Shindle, “, Uber, Lyft, Jamie Long, Read Organizations: CNN Business, Bell, New York CNN — Markets, Federal Reserve, Fed, ’ Equity Association, Equity, National Labor Relations Board, Disneyland, Disney, ’ Equity, Walt Disney Company, Uber, Democratic, Minneapolis City Council Locations: New York, Anaheim , California, Minnesota, Minneapolis

☆ How Red Lobster’s misguided endless shrimp promotion drove it into bankruptcy
▼ + stars: | 2024-05-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Red Lobster filed for bankruptcy Sunday, and the bankruptcy filing sheds new light on Thai Union’s role in the endless shrimp mishap. Red Lobster said it is investigating the circumstances of that promotion, which Red Lobster management opposed. Michael Nagle/Bloomberg/Getty Images“This decision created both operational and financial issues for [Red Lobster]… saddling the company with burdensome supply obligations” to Thai Union, Red Lobster said in the filing. “Certain operational decisions by former management have harmed [Red Lobster’s] financial situation in recent years,” Red Lobster said in its bankruptcy filing. Red Lobster stallsBut Red Lobster fell behind its sister brand Olive Garden under Darden.

Persons: Michael Nagle, ”, Alex Susskind, Susskind, General Mills, Bill Darden, Charley Woodsby, Darden, ” Woodsby, Jonathan Maze, Betty Crocker, Red, Mills, Cyrus McCrimmon, ” Joe Lee, Olive, Red Lobster’s, “ Darden, ” Les Foreman, Anthony Behar, SIPPL, AP Darden, they’ve, John Gordon, “, Patrick T, Fallon, Thiraphong Chansiri, ” “, ” Chansiri Organizations: New, New York CNN, Union became Red, Thai Union, Red Lobster, Bloomberg, Getty, Cornell University, CNN, Baby Boomers, General, Howard, Restaurant Business, Darden, Lobster, Denver Post, Harvard Business School, Longhorn, AP, Gate, ‘, Thai, Getty Images Thai Union, ” Thai Locations: New York, Thai Union, Bangkok, Thai, underinvestment, Lakeland , Florida, Orlando, America, Olive, Square , New York, Sale, Torrance , California, AFP

☆ Ivan Boesky, famed trader in 1980s insider trading scandal, dies at 87
▼ + stars: | 2024-05-20 | by ( Krystal Hur | ) edition.cnn.com time to read: +1 min

New York CNN —Ivan Boesky, the infamous insider trader whose name became synonymous with financial greed and helped inspire the fictional character Gordon Gekko in the 1987 film “Wall Street,” has died. His daughter, Marianne Boesky, confirmed to CNN on Monday that he died in his sleep. Nicknamed “Ivan the Terrible” on a 1986 Time Magazine cover, Boesky profited from the corporate takeover boom in the 1980s, using insider information to receive advanced information on pending deals. He pleaded guilty in 1986 to insider trading and was sentenced to three years of prison and fined $100 million, half of which went to returning the profits he made from insider trading and the other half as a civil penalty. Boesky was barred from securities trading for the rest of his life.

Persons: Ivan Boesky, Gordon Gekko, ”, Marianne Boesky, Marianne Boesky’s, Boesky, “ Ivan, ” Michael Milken, Milken, Ana Organizations: New, New York CNN, CNN, Haas School of Business, University of California, Wall, SEC, SEC Historical Society Locations: New York, Berkeley

☆ Class of 2024: How’s your job search going?
▼ + stars: | 2024-05-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +1 min

New York CNN —By many measures, the US economy is in great shape. There are millions of job openings and the unemployment rate is low. That may include the onset of the pandemic, the Great Recession or any time the job market looked worse on paper than it does now. That’s why CNN wants to hear from the class of 2024 about your job searches, for possible inclusion in an upcoming story. We will not include anything in an upcoming article without first reaching out to you and interviewing you.

Persons: there’s Organizations: New, New York CNN, CNN Locations: New York

☆ Is America ready for a $400 pineapple? Luxury fruit is now a thing
▼ + stars: | 2024-05-19 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +9 min

The Rubyglow pineapple –— bred for its distinctive red exterior and its sweetness — costs $395.99 at Melissa’s Produce, a California-based seller of specialty fruit and veggies. It took Del Monte, a wholesaler which sells a variety of produce but specializes in pineapple, a decade and a half to develop the red-hued fruit. And yet, there’s interest in premium fruit — enough to convince Del Monte to bring the Rubyglow, which is grown in Costa Rica, stateside. Courtesy Fresh Del MonteThe Pinkglow was never supposed to be a grocery list staple, said Melissa Mackay, VP of marketing in North America at Del Monte. Melissa’s started with 50 pineapples, according to Robert Schueller, director of public relations at Melissa’s Produce.

Persons: Del, ”, Cindy van Rijswick, “ there’s, Cotton Candy, McIntosh, Jim Luby, Patrick T, Fallon, Luby, Lane Turner, Oishii, Hiroki Koga, Jerod Harris, Melissa Mackay, “, It’s, Melanie Zanoza Bartelme, pricey, Hailey, Strawberry, it’s, Melissa’s, Robert Schueller, ” Schueller, Bo Corley, ” Corley, Corley Organizations: New, New York CNN, “, University of Minnesota, Getty, Rabobank, Citrus, Boston Globe, Vox Media, Del, Mintel, Melissa’s Locations: New York, California, Del Monte, China, United States, America, Costa Rica, AFP, Minnesota, Beverly Hills , California, North America, Erewhon, Angeles, Las Vegas, Southern California

☆ Disneyland character performers vote to unionize
▼ + stars: | 2024-05-19 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

Equity described the vote as “a landslide victory,” with 953 cast members favoring unionization and 258 opposed. There are more than 21,000 Disneyland “cast member” employees, who are represented by more than a dozen unions. “Whatever the outcome, we respect that our cast members had the opportunity to have their voices heard,” the spokesperson said. On the other side of the country, Disney World character actors have been represented by Teamsters since the 1980s. Today, Equity estimates they represent around 800 cast members at Disney World.

Persons: Donald, Goofy, Mickey Mouse, Snow White, Captain Hook, ”, Kate Shindle, “ Organizations: New, New York CNN, ’ Equity Association, Equity, National Labor Relations Board, Disneyland, Disney, ’ Equity, Walt Disney Company, Walt Disney, ”, CNN, Disneyland Resort, Teamsters Locations: New York, Anaheim , California, Orlando , Florida

☆ Minnesota lawmakers strike minimum pay deal for Uber, Lyft drivers
▼ + stars: | 2024-05-19 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

New York CNN —Minnesota government officials have struck a deal with rideshare companies Uber and Lyft to set minimum wage standards for drivers, lawmakers announced Saturday night. The rule was delayed after Lyft and Uber warned they would leave Minneapolis. State lawmakers have been focused on compromising with the companies before a July 1 deadline. Under the new agreement, the statewide minimum wage rate for rideshare drivers will be $1.28 per mile and $0.31 per minute. “We applaud the tens of thousands of riders & drivers who sent close to 100,000 emails to legislators — your voices were heard.

Persons: Uber, Lyft, Jamie Long, ” Long, ”, Erin Murphy, Josh Gold Organizations: New, New York CNN, Minnesota, Democratic, Minneapolis City Council, Governor Locations: New York, Minnesota, Minneapolis, State

☆ From Taylor Swift tickets to gasoline — these days everyone feels like they’re being price-gouged. Are they?
▼ + stars: | 2024-05-18 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +8 min

Taylor Swift performs onstage during "Taylor Swift | The Eras Tour" at SoFi Stadium on August 09, 2023 in Inglewood, California. At the core of the increasingly common accusation of price gouging is the sense that the consumer is being exploited. Price gouging is in the eye of the bidderGavin Roberts, chair of Weber State University’s economics department and who studies the effect of anti-price gouging laws, said the laws themselves often don’t define what price gouging is. Corporations charging as much as they can, as painful as it may be for consumers, doesn’t mean they’re necessarily price gouging, said Roberts. Steven Suranovic, an economics professor at George Washington University who has also published research on price gouging, sees it differently.

Persons: Emily Miller lucked, Taylor, Miller, Swift, ” Miller, Taylor Swift, Kevin Winter, it’s, —, Joe Biden — can’t, we’re, Gavin Roberts, Biden, ”, Biden hasn’t, ” Biden, Roberts, Steven Suranovic, Martin Shkreli, Shkreli, Price, Trent Sprague, Lyft, Uber, Travis Kalanick, It’s, ” Suranovic, Rafi Mohammed, Stefani Reynolds, Teresa Murray Organizations: New, New York CNN, CNN, Rights, Weber State, Corporations, George Washington University, Turing Pharmaceuticals, LinkedIn, O'Hare International, Chicago Tribune, Tribune, Service, Consumer, Culture, Profit, Getty Locations: New York, Pittsburgh, Cleveland, Inglewood , California, Chicago, New York City, Washington ,, AFP, US

☆ Under Armour was a real threat to Nike. Now it’s fighting to stay relevant
▼ + stars: | 2024-05-18 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +10 min

It was the upstart athletic brand that was making real inroads against Nike, the dominant name in the industry. People saw it as a company that actually could break through and take market share from Nike among the hardcore athletes,” Swartz said. String of controversiesThe period from 2016 onward is when “things really started to fall apart” at Under Armour, Swartz said. A bulk of Under Armour products are sold through sporting goods retailers and department stores, including Macy’s and Kohl’s, and online. The basketball superstar Curry, arguably the best shooter in history, famously signed with Under Armour instead of Nike in 2013.

Persons: Armour, Stephen Curry, Jordan Spieth, Kevin Plank, Howard Schultz’s, Bob Iger’s, Plank, ”, David Swartz, Morningstar, ” Swartz, Justin Sullivan, Tommy Gilligan, ” Plank, Swartz, “, —, Stephanie Linnartz, ” Schwartz, Andrew Kelly, Merrell, Zak Stambor, Stambor, Plank’s, Noel Celis, Eric Smallwood, Dwayne Johnson, Johnson, ” Smallwood, Smallwood, Curry, Joel Embiid, Embiid, Skechers, Caitlin Clark Organizations: New, New York CNN, Nike, Starbucks, Disney, CNN, Sports, North, Maryland Terrapins, Southern Methodist Mustangs, Capital, Maryland, Reuters, —, Armour, Sports Authority, Sporting Goods, UCLA, US Securities and Exchange Commission, Footwear News, Adidas, NBA Golden State Warriors, UA Curry II, Getty, Apex Marketing, United Football League, NBA, WNBA Locations: New York, San Rafael , California, North America, College Park , Maryland, Manhattan , New York, Petaluma , California, Manila, AFP

☆ Universities continue to grapple with pro-Palestinian protests ahead of graduation ceremonies
▼ + stars: | 2024-05-18 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +6 min

New York CNN —Universities across the United States have adopted a number of tactics in recent weeks to prevent disruptions by pro-Palestinian protesters at graduation ceremonies. Some universities have reached agreements with on-campus demonstrators, while others have cited safety concerns and canceled, postponed or relocated their schoolwide ceremonies. Several schools continue to grapple with pro-Palestinian protesters ahead of their spring commencement, subjecting themselves to internal scrutiny and public criticism. Friday’s arrests follow the arrest of at least 33 people on May 10 when law enforcement broke down a pro-Palestinian encampment erected on campus. Biden is expected to deliver a commencement address at the United States Military Academy at West Point on May 25.

Persons: Fisher, Bennet, Monday’s, Gene Block, counterprotesters, “, grievously, Andrea M, Kasko, ”, Etienne Laurent, Mildred García, Mike Lee, …, Lee, ” Lee, García, ” Morehouse, David A, Thomas, Joe Biden’s, ” Thomas, CNN’s Victor Blackwell, Biden Organizations: New, New York CNN — Universities, University of Pennsylvania, CNN, Penn, Occupation, UCLA, Senate, University of California, California State University System, Sonoma State University, Justice, “, Morehouse College, Morehouse, George Mason University, United States Military Academy, West Locations: New York, United States, Palestine, Gaza, Israel, Sonoma State, Los Angeles, University of California Los Angeles, Atlanta, Virginia

☆ Mercedes-Benz workers in Alabama vote against unionizing in blow to big UAW push
▼ + stars: | 2024-05-17 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +7 min

Out of the valid votes counted, 56% of workers voted “no,” while 44% voted “yes” for unionization, according to Mercedes-Benz. Under relatively new UAW president Shawn Fain, the UAW had shifted its strategy for a membership push in non-unionized factories, many of which are located in the American South. David Johnston, right, a worker at Mercedes, thanks UAW President Shawn Fain following a press conference in Tuscaloosa, Alabama on May 17, 2024, after workers at two Alabama Mercedes-Benz factories voted overwhelmingly against joining the United Auto Workers union. Alabama is not Michigan, and we are not the Sweet Home to the UAW,” Ivey said in the statement. People react as the result of a vote comes in favour of the hourly factory workers at Volkswagen's assembly plant to join the United Auto Workers (UAW) union, at a watch party in Chattanooga, Tennessee, U.S., April 19, 2024.

Persons: Shawn Fain, Fain, ”, ” “, ” Fain, David Johnston, Kim Chandler, “, Kay Ivey, Vance, ” Ivey, Mercedes, Tesla, Seth, Wheaton, Mercedes plant’s, It’s, Mercedes Benz, ” Wheaton, “ It’s, Chris Isidore, Nathaniel Meyersohn Organizations: New, New York CNN, United Auto Workers, Mercedes, Benz, The National Labor Relations Board, UAW, Alabama, Big Three, Volkswagen, International, Team, Workers, Alabama Gov, Benz US International, Member, ” CNN, US, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, Seth Herald, Reuters, Chattanooga, Volkswagen didn’t, Cornell University School of Industrial and Labor Relations ’, CNN, P Global Market Intelligence Locations: New York, Benz, Alabama, United States, Chattanooga , Tennessee, American, Tuscaloosa , Alabama, MBUSI, Alabama , Georgia , Mississippi, South Carolina , Tennessee, Texas, Michigan, U.S, Cornell University School of Industrial and Labor Relations ’ Buffalo

☆ Dow closes above 40,000 for first time ever
▼ + stars: | 2024-05-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

New York CNN —The Dow Jones Industrial Average closed above the 40,000 mark Friday for the first time in its 139-year history. To many Americans, “the Dow” simply means the stock market. Dow 100: The Dow first closed in triple digits in January 1906. Crash of 1929: The Dow fell 38 points on Oct. 28 and 31 more points the next day. Dow 30,000: Nov. 24, 2020: Covid sent the stock market plunging in the spring of 2020.

Persons: ”, Ryan Detrick, “, Hogan, Dow, Teddy Roosevelt, Richard Nixon, Trump, Covid Organizations: New, New York CNN, Dow Jones, Federal Reserve, Bureau of Labor Statistics, Carson Group, Dow, Nasdaq, Riley Financial, CNN, Wall, Microsoft, Chevron, Federal, Woolworth, Eastman Kodak Locations: New York, Chevron —

☆ Viral ‘courtesy’ letter American Airlines gives flight attendants shows how little they make
▼ + stars: | 2024-05-17 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

An employment verification letter American Airlines gives to some newly hired flight attendants documenting their salary has been circulating on Reddit, drawing attention to their low wages. The union says that flight attendants’ low salaries compared to top airline executives is a prime example of “corporate greed.”New flight attendants at American Airlines start at $27,000 per year. Robert Isom, the CEO of American Airlines, earned $31.4 million last year — 1,162 times more than a new attendant. American Airlines flight attendants have not gotten a raise since 2019, and the union is escalating its push for a new contract to raise wages. Flight attendants for United Airlines, Alaska Airlines and other carriers are also pushing for new contracts to raise wages.

Persons: haven’t, “, –, Robert Isom, Paul Hartshorn, APFA, Joe Biden, ” Hartshorn, ” Organizations: New, New York CNN, American Airlines, Association of Professional, Nutrition Assistance, SNAP, CNN, United Airlines, Alaska Airlines, Bureau of Labor Statistics, Railway Labor, Board, Airlines, “ Management, Southwest Airlines Locations: New York, Massachusetts

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