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☆ Justin Timberlake in police custody in New York for alleged DWI
▼ + stars: | 2024-06-18 | by ( Zenebou Sylla | Marianne Garvey | ) edition.cnn.com time to read: +1 min

CNN —Justin Timberlake was arrested last night in Sag Harbor, New York for allegedly driving while intoxicated, a spokesperson for Sag Harbor Police told CNN. Timberlake has a court appearance this morning, a spokesperson for Sag Harbor Justice Court told CNN. Timberlake left the American Hotel in the area shortly before he was arrested, according to a source with knowledge of the matter. Over the weekend, Timberlake wrote a tribute to his two sons and shared his plans for Father’s Day in a post Instagram. Thank you for giving me my biggest purpose,” Timberlake wrote.

Persons: Justin Timberlake, Timberlake, ” Timberlake, Dad, Jessica Biel, Silas, Phineas Organizations: CNN, Sag Harbor Police, Sag Harbor Justice Court, Hamptons, American, Police, United Center Locations: Sag Harbor , New York, Sag, Long, Chicago

☆ Forecast: Very hot. What your employer should be doing to protect you on high-heat days
▼ + stars: | 2024-06-18 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

Along with stifling days comes the risk of developing dangerous heat-related conditions, such as dehydration, heat stress, heat exhaustion, heat stroke and other hazards. What responsibilities does your employer have to prevent you from suffering a heat-related illness? While some states have specific laws governing occupational heat exposure, there is no heat-specific federal regulation mandating how employers must prevent heat illness in the workplace. They recommend companies:Have a heat illness prevention plan. Monitor workers for signs and symptoms of heat illness.

Persons: ”, Jason Krasno, “, they’ve, Alka Ramchandani, Raj Organizations: New, New York CNN, Safety, Health Administration, OSHA, National Institute for Occupational Safety, Health Locations: New York, North America, Montpelier , Vermont, Syracuse , New York, Pittsburgh, Krasno, OSH

☆ Trump gag order appeal dismissed by New York's top court
▼ + stars: | 2024-06-18 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

New York's highest court on Tuesday dismissed former President Donald Trump's appeal of the gag order in his criminal hush money trial. The New York Court of Appeals in a brief decision declined to hear Trump's bid "upon the ground that no substantial constitutional question is directly involved." The decision means Trump's gag order, which bars him from speaking about jurors, witnesses and other parties involved in the Manhattan Supreme Court case, remains in effect. Trump's attorneys asked Judge Juan Merchan, who presided over the trial, to terminate the gag order because the trial is over. The Trump campaign and the lawyer who filed the gag order appeal to the state's top court did not immediately respond to CNBC's requests for comment.

Persons: Donald Trump, Trump, Stormy Daniels, Donald Trump's, Judge Juan Merchan, Merchan Organizations: New York, New, Appeals, Manhattan Supreme, Manhattan District, Manhattan DA, Trump Locations: New York , New York, USA, New York, Manhattan

While original tickets have already sold out, we've put together everything you need to know when it comes to how to buy All Things Go tickets. The All Things Go festival first took place in 2014 at Union Market and has since expanded in scope and following. How to get All Things Go ticketsOriginal tickets to All Things Go tickets were available through the festival's website, but they sold out pretty quickly. Original All Things Go tickets started at $119 for single-day passes to the DC festival (or $199 for two-day passes) and $149 for two-day passes to the NYC festival (no single-day tickets were sold). At the time of writing, Vivid Seats' cheapest two-day ticket listings for the NYC festival start at $242, and the cheapest two-day listings for the DC festival start at $650.

Persons: we've, Chappell Roan, Reneé Rapp, Janelle Monáe, Conan Gray, Marren Morris, Remi Wolf, Ethel Cain, Julien Baker, Michael Kiwanuka, Maisie Peters, Briston Maroney, Sammy Rae, De Souza, GrentPerez, Rachel Chinouriri, Annie Dirusso, Allison Ponthier, Oliver Malcolm, Maren Morris, Holly Humberstone, David Kushner, Lola Young, Towa, Abby Roberts, Muna, & Clair Clair Organizations: Business, DC, Union Market, Kennedy Center Orchestra, The, & Locations: DC, Columbia , Maryland, Forest Hills , New York, New York, Flipturn, Del, Towa Bird

☆ Oppressive heat wave will broil huge swaths of the East with record-breaking temperatures this week
▼ + stars: | 2024-06-17 | by ( Mary Gilbert | Elizabeth Wolfe | ) edition.cnn.com time to read: +3 min

Some areas could endure the longest heat wave they’ve seen in decades, the National Weather Service’s Weather Prediction Center said. Tens of millions of people who aren’t used to heat this intense will be sweating in temperatures well into the 90s this week. Through the rest of the week, the most extreme heat risk is in place from the Great Lakes into the Northeast, according to the National Weather Service. Humidity will also join forces with extreme heat to create triple-digit heat indices – measurements of how hot the human body feels – in some areas. Chicago residents could feel heat indices between 95 and 105 degrees through next week, the NWS in Chicago warned.

Persons: CNN’s Robert Shackelford Organizations: CNN, National Weather Service, Prediction, NWS Locations: South, Midwest, Great, Chicago, St, Louis, Detroit, Cleveland, Pittsburgh , New York City, Boston, Pittsburgh, New York, New England

☆ How this 27-year-old turned her side hustle into a business bringing in $25,000 a month
▼ + stars: | 2024-06-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow this 27-year-old turned her side hustle into a business bringing in $25,000 a monthLiz Chick, 27, started making and selling art as a side hustle to get reprieve from her "windowless office" job. Now, she runs a Brooklyn, New York-based art studio and event business called RecCreate Collective that brings in about $25,000 a month, hosting events from knitting to cake decorating. The goal, says Chick: inspire creativity and give attendees a community to connect with.

Persons: Liz Chick, Chick Locations: Brooklyn , New York

☆ ‘Wheatfield’: Agnes Denes has reimagined her landmark artwork
▼ + stars: | 2024-06-17 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +10 min

Out west, Denes hopes to plant seeds of community with the help of the project’s host, Tinworks, an arts organization in the rapidly developing city of Bozeman. “Wheat is wonderful — it sustains humanity and is probably the most planted food next to rice. Jenny Moore/TinworksSome 200 packets of wheat were also distributed among Bozeman residents to grow concurrently with Denes' field. “Can you imagine if I could have realized 20 or 30?”Sowing seeds for changeAs with “Wheatfield,” seeds have often served as potent symbols for Denes. Courtesy Agnes Denes/Leslie Tonkonow Artworks + ProjectsWith “Wheatfield – An Inspiration,” like with all her work, Denes strives for nuance and to engender change through visitors and participants who take something meaningful from the work.

Persons: Agnes Denes, —, CNN —, Denes, Bozeman . Wheat, ” Denes, ”, Blair, Jenny Moore, Tinworks, Kenny Van Dyke, “, ” Moore, Agnes, Moore, I’d, it’s, Leslie Tonkonow, … Organizations: CNN, Art Basel, Bozeman ., Bozeman, Tinworks, Montana, “ Locations: Lower Manhattan, Montana, Wheatfield, Budapest, New York, Battery Park City, Milan, Switzerland, Bozeman, Montana State, Ylojarvi, Finland, ”, Sullivan County , New York, Lewiston, Niagara, Long Island , New York, Kassel, Germany, Istanbul, Egypt, Queens , New York, “ Wheatfield

☆ Analysts say to buy Best Buy stock for an AI device upgrade boost and a whole lot more
▼ + stars: | 2024-06-17 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Coming on Tuesday, Microsoft plans to start selling new AI-enabled laptops at Best Buy, with roughly 40% of Copilot+ PCs exclusive to the retailer. We think that high-end offerings like these will give Best Buy a much-needed boost in sales and later for its stock price, too. In Monday's note to clients, the analysts also said that Best Buy can get a "volume benefit from lowering prices on previous models of the same product." That's a key reason why we first initiated our position in Best Buy earlier this year. People walk past a Best Buy store in Manhattan, New York City, November 22, 2021.

Persons: I'm, it's, Jeff Marks, Marks, we've, Jim Cramer's, Jim Cramer, Jim, Andrew Kelly Organizations: UBS, CNBC, Club, Microsoft, Federal, 1Q Locations: Friday's, Manhattan , New York City

☆ Epic heat wave to expand from Midwest to East Coast, bringing warnings to 72 million
▼ + stars: | 2024-06-17 | by ( Dennis Romero | Patrick Smith | ) www.cnbc.com time to read: +3 min

Almost 72 million people across the country were under warnings of extreme heat Monday morning, the National Weather Service said. With Thursday's seasonal solstice taking place amid a weeklong heat wave expected for the East Coast and the Midwest, the summer of 2024 is coming in hot. Extreme heat warnings were in place for Chicago, St. Louis, Indianapolis, Detroit, Cleveland, Cincinnati, Pittsburgh, Philadelphia, Boston, New York City and Albany, New York. The weather service office for Pittsburgh said it "could be the most impactful heat wave of the 21st century." The weather service is also on the lookout for any possible tropical storms developing in the Gulf, it said.

Organizations: National Weather Service, East, Prediction, Midwest, The Nevada Division, Emergency Management, Pittsburgh, Buffalo Public Schools, Dakotas Locations: Phoenix , Arizona, U.S, East Coast, Chicago, St, Louis, Indianapolis, Detroit, Cleveland, Cincinnati, Pittsburgh, Philadelphia, Boston , New York City, Albany , New York, Ohio, East, Phoenix, Buffalo, Minnesota, Gulf, Mexico, Texas, Louisiana

☆ Derek Jeter finally found a buyer for his lake-front castle, but only after cutting the price in half
▼ + stars: | 2024-06-16 | by ( Katie Balevic | ) www.businessinsider.com time to read: +1 min

Derek Jeter has a buyer willing to pay $6.3 million for his lake-front castle in upstate New York. The Baseball Hall of Famer initially listed the property for over $14 million in 2018. Named Tiedemann Castle, the property features a turret, bridge, waterfall, and fountains. AdvertisementAfter years of trying, New York Yankees legend Derek Jeter finally found a buyer for his lake-front castle in upstate New York. But only after he cut the sale price in half, The New York Times reported.

Persons: Derek Jeter, — Organizations: The Baseball, of Famer, Service, , New York Yankees, New York Times, Times Locations: New York, , New

☆ I never stay in Las Vegas for more than 2 nights. This is my foolproof itinerary for maximizing a weekend in Sin City.
▼ + stars: | 2024-06-16 | by ( Jill Schildhouse | ) www.businessinsider.com time to read: +6 min

Read previewI've been going to Las Vegas regularly since the early 2000s and have adopted a firm policy to never stay more than two nights. A well-planned weekend trip also makes it possible for travelers to use fewer PTO days — although almost half of US workers don't take all of their paid time off each year anyway. Here's how my cousin and I spent a weekend in Vegas on my most recent trip. Next, we headed to one of the highlights of any trip to Vegas: high tea at the Tea Lounge at the Waldorf. The Tea Lounge at the Waldorf Jill SchildhouseFor dinner, we headed to KYU at Fontainebleau Las Vegas for incredibly flavorful Asian-inspired and wood-fired dishes.

Persons: —, I've, Jill Schildhouse, Cheri, Martha Stewart, Dita Von Teese's, Schildhouse, brunch, KYU, Thomas Keller's, Bobby Flay's Organizations: Service, Business, Flight, Paris Hotel, Eiffel, Sala, COMO Poolside, Bellagio, Waldorf, Fontainebleau Las, Resorts, Paradox Museum Locations: Las Vegas, Sin City, Vegas, Bellagio, Bedford, Paris, Bedford , New York, COMO, Fontainebleau, Fontainebleau Las Vegas, Luxor, Caesar's

☆ 5 Ways This Year’s Tony Awards Reveal That Theater Is Changing
▼ + stars: | 2024-06-16 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

Tonight’s Tony Awards ceremony will celebrate the best work on Broadway. Here are some things I’ve been thinking about as this awards season unfolded:Nonprofit theaters are struggling. Short of money, nonprofit theaters around the country are staging fewer shows, shedding jobs, and in a few cases, closing. Among plays, “Jaja’s African Hair Braiding,” “Mary Jane,” and “Prayer for the French Republic” were all staged on Broadway by the nonprofit Manhattan Theater Club. (“Mary Jane” had an earlier Off Broadway run at another nonprofit, New York Theater Workshop.)

Persons: Tonight’s Tony, They’re, Tony, “, ” “ Mary Jane, ”, Republic ”, “ Mary Jane ” Organizations: Nonprofit, Broadway, Manhattan Theater Club, New York Theater Workshop, Playwrights Horizons Locations: Republic

☆ Congestion Pricing Delay in New York Ripples Across the Country
▼ + stars: | 2024-06-16 | by ( Ana Ley | Winnie Hu | ) www.nytimes.com time to read: 1 min

In a country where the car is still king, New York had stirred hope that an ambitious policy prioritizing mass transit was possible. But that optimism unraveled this month, when Gov. Kathy Hochul abruptly halted a congestion pricing tolling program that promised to take thousands of cars a day off the streets of Midtown and Lower Manhattan while generating billions for critical repairs and improvements to the subways, buses and two commuter railroads. The governor’s decision came amid a fierce outcry from opponents, including many drivers from the boroughs and suburbs outside Manhattan. In doing so, she punched a $15 billion hole in the capital budget of the Metropolitan Transportation Authority, leaving long-planned work on the subway in limbo.

Persons: Kathy Hochul Organizations: Gov, Metropolitan Transportation Authority Locations: New York, Midtown, Lower Manhattan, Manhattan

☆ Against the odds, the USA cricket team is capturing hearts and minds with historic run through Men’s T20 Cricket World Cup
▼ + stars: | 2024-06-16 | by ( Ben Morse | Patrick Snell | ) edition.cnn.com time to read: +7 min

Saurabh Netravalkar (left) bowled the decisive Super Over to help the USA to its famous victory over Pakistan at the Men's T20 Cricket World Cup. A momentous dayBorn and raised in Mumbai, India, USA bowler Saurabh Netravalkar began playing cricket from an early age. Such was the promise he showed that he was selected for India’s team for the Under-19 World Cup in 2010, finishing the tournament as the country’s leading wicket taker. Not only is the US one of the co-hosts for the T20 World Cup for the first time, but it is making its debut appearance on this stage. The USA's success at the T20 World Cup has captured the hearts and minds of supporters at its home games.

Persons: Saurabh Netravalkar, Matt Roberts, Netravalkar, “, ”, Andrew Caballero, Reynolds, Aaron Jones, ” Jones, CNN’s Patrick Snell, Jones, Virat Kohli, Rohit Sharma, Adam Hunger, Ali Khan, Nosthush Kenjige, ” Kenjige, Stuart, ‘, ’, –, US –, We’ve Organizations: CNN, USA men’s, India, Pakistan, ICC, Ireland, India national, Cornell University, Cricket Council’s, USA, BBC, Veteran USA, USA Cricket, Stuart Law, Major League Cricket, US, Canada Locations: Pakistan, Mumbai, India, USA, New York, San Francisco, AFP, Queens , New York, Barbados, Caribbean, Dayton , Ohio, South Africa, New Zealand

☆ US Open: Box office Bryson DeChambeau receives mid-round physiotherapy in woods – then muscles into lead
▼ + stars: | 2024-06-15 | by ( Jack Bantock | ) edition.cnn.com time to read: +7 min

CNN —Bryson DeChambeau lay sprawled on his back, gazing up at the towering pine trees as a physiotherapist worked him over. Once maligned by some golf fans, DeChambeau – whose personal YouTube channel continues to amass subscribers – has embraced his new-found role as a crowd-favorite. After his tee shot pulled into a bunker, the American came close to holing out with his mesmerizing subsequent swing. To top it all off, there was a spot of mid-round physiotherapy – permitted by the PGA Tour – in the woods ahead of the 11th hole. “Another frustrating day,” Scheffler told reporters.

Persons: CNN — Bryson DeChambeau, LIV, ” DeChambeau, I’ve, DeChambeau –, DeChambeau, Gregory Shamus, ”, “, Bryson, ” “ I’ve, “ I’ve, ” McIlroy, Scheffler, Rory McIlroy, “ You’ve, Matt York, Matthieu Pavon, Frenchman, ” Pavon, Pavon, Patrick Cantlay, Scottie Scheffler’s, ” Scheffler, Andrew Redington Organizations: CNN, PGA, U.S, Northern, “, U.S . Locations: Carolina’s, New York, Pinehurst, “

☆ Trader Joe’s tiny coolers are selling like hot cakes. Why and how do products go viral?
▼ + stars: | 2024-06-15 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +7 min

But now “you can have it all happen instantly across the whole country.”Success strikes twiceThis isn’t even the first time little Trader Joe’s bags have gone viral. Because Trader Joe’s doesn’t boast much of an official online presence, “I’ve kind of taken on that role” with those pages, she said. A Trader Joe's mini tote bag is shown in Palmyra, N.J., on Wednesday, March 13, 2024. “It’s always a surprise.”The chain’s unusually loyal fanbase is eager for more Trader Joe’s branded merchandise, TikToker Heskett said, but Trader Joe’s doesn’t offer much of that. “You can’t buy a Trader Joe’s hat, you can’t buy a Trader Joe’s sweatshirt,” she said.

Persons: Thaddeus Yan, Joe’s, Yan, Stanley, “, Colin Campbell, Joe doesn’t, Talia Heskett, Joe’s Talia ”, Heskett, She’s, Christy Vetere, ”, Tara Miller, “ I’m, Christina Paciolla, Matt Sloan, Miller, Joe’s hasn’t, Jonah Berger, ” Berger, Lindsey Nicholson, G Yan, “ It’s, TikToker Heskett Organizations: New, New York CNN, eBay, University of San, Facebook, ”, tote, CNN, University of Pennsylvania’s Wharton School, Nike, Variety, Trader Joes, Getty, G Locations: New York, London, University of San Diego’s, Vetere, Palmyra, N.J, Queens , New York

☆ We're having 2 weddings because many of our LGBTQ+ guests don't feel safe going to Florida
▼ + stars: | 2024-06-14 | by ( Logan Gabrielle Schulman | ) www.businessinsider.com time to read: +1 min

We want to have a wedding in our home state, Florida, without ostracizing our queer friends. Our LGBTQ+ friends said they don't feel safe traveling to Florida, and we won't make them do so. So, we're having one wedding in Florida and one in New York. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Business Locations: Florida, New York, Ithaca , New York

☆ We're having 2 weddings so our queer friends don't have to go to Florida
▼ + stars: | 2024-06-14 | by ( Logan Gabrielle Schulman | ) www.businessinsider.com time to read: +1 min

Persons: — Organizations: Service, Business Locations: Florida, New York, Ithaca , New York

☆ Luxury homes on these beaches are losing value fast, as effects of climate change hit hard
▼ + stars: | 2024-06-14 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

watch nowAs sea levels rise and storms intensify, coastal real estate is seeing flooding and erosion like never before. From Dana Point, California, to Long Island, New York and Nantucket, Massachusetts, some of the nation's priciest coastal real estate is in an increasingly precarious position due to climate change. Various risk models have shown myriad projections for falling real estate values, but the effects of climate change are already hitting the market — and at a faster pace than most expected. A Nantucket home listed last summer for just over $2 million sold early this year for just $600,000. "There have been several," said Shelly Lockwood, a real estate agent on Nantucket.

Persons: Dana, Shelly Lockwood, Lockwood, that's, it's, Kay Tyler, he's, Chris Farley, Farley, Diana Olick, Olick Organizations: National Oceanic, Atmospheric Administration, Nantucket, Boston Globe, First, CNBC Locations: Dana Point , California, Long, , New York, Nantucket , Massachusetts, Nantucket, Montauk, Gulf Coasts, United States, Lockwood

☆ Why the Biggest City in America Can’t Get Big Things Done
▼ + stars: | 2024-06-14 | by ( Dana Rubinstein | Emma G. Fitzsimmons | ) www.nytimes.com time to read: +1 min

With New York on the verge of becoming the first city in the nation to adopt congestion pricing, a sudden, familiar chill fell over the city last week, as another ambitious project was shelved. This time, it was Gov. Chris Christie of New Jersey. In the adjoining garbage bin lies other big development projects like a football stadium on Manhattan’s West Side and smaller initiatives with potentially outsize impact, like all-door bus boarding. For a place where change is the rule and unbridled ambition the guiding light, New York can be a remarkably hard place to get things done.

Persons: Kathy Hochul, Chris Christie Organizations: York, La Guardia Airport, Port Authority, Queens, Gov Locations: Staten Island, La, Brooklyn, Hudson, New Jersey, New York

☆ Stock futures are little changed after S&P 500 posts fourth consecutive closing record: Live updates
▼ + stars: | 2024-06-13 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

The Dow Jones and S&P both hit all time highs with the Dow Jones closing over 38,000 points for the first time ever as stocks continue to rise. (Photo by Michael M. Santiago/Getty Images)Stock futures were little changed Thursday, following a fresh record close for the S&P 500 and strong quarterly results from Adobe . Stocks are coming off a winning session that saw the S&P 500 notch its fourth-straight record close. The S&P 500 and Nasdaq Composite are on pace to end the week higher. Wholesale inflation unexpectedly ticked down by 0.2% last month, while economists polled by Dow Jones expected the gauge to increase by 0.1%.

Persons: Dow Jones, Michael M, headwinds, Dow, Barbara Doran, CNBC's, Elon Musk Organizations: NEW, New York Stock Exchange, Getty, Adobe, Nasdaq, Dow Jones Industrial, Wall, Capital Locations: New York City

☆ Giant Loophole May Protect Trump Liquor Licenses Despite His Felonies
▼ + stars: | 2024-06-13 | by ( Laura Italiano | Haven Orecchio-Egresitz | ) www.businessinsider.com time to read: +5 min

New Jersey officials revealed this week that they are looking at the licenses at his three golf courses there. AdvertisementThese states prohibit felons or people convicted of "moral" offenses such as fraud from holding a liquor license. Say Trump is landlord to the bar operators at one of these properties, and it's the bar operators who hold the liquor license, Pierce said. If Trump is charging the bar a flat rent, his felony status won't impact that liquor license. Trump would still have options, though, even if his hush-money conviction voided one or more of his liquor licenses.

Persons: —, Donald Trump, William Fay, Fay, he's, Aaron H, Pierce, Trump, Kwok Organizations: Service, Trump, New, New Jersey Attorney, Business, ABC Locations: ., Jersey, Colts Neck, Bedminster, Pine Hill, New Jersey, New Jersey , New York , Florida, California, United States, Manhattan, New York

☆ I took a $195 luxury bus from the Hamptons to NYC, and the high-end freebies I got on board were worth more than my ticket
▼ + stars: | 2024-06-13 | by ( Elizabeth Blasi | ) www.businessinsider.com time to read: +1 min

I rode the Hamptons Streamliner from the Hamptons to New York City for $195 one-way. I had my choice of drinks and snacks, and I got a complimentary travel kit full of luxury products. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAs of May, New Yorkers have a new luxurious way to travel to the Hamptons for the weekend: The Hamptons Streamliner. The upscale bus service is a new collaboration between elite helicopter service Blade and luxury bus company The Jet.

Persons: — Organizations: Hamptons, Service, Business Locations: New York City, New

☆ At Stellantis investor day, cost cuts and China come into focus
▼ + stars: | 2024-06-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Massimo Pinca | ReutersDETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission. "We are not in the race to transition to EVs, but in a race to cut cost on EVs," Tavares said in late May during a Bernstein investor conference. The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030. Executives on Thursday will outline developments across Stellantis' regions and businesses, including its capital and operational disciplines, according to Stellantis CFO Natalie Knight. "The share price reaction to the [capital markets day] will likely be driven by how these short-term concerns are addressed.

Persons: Carlos Tavares, Massimo Pinca, Tavares, " Tavares, Stellantis, Ned Curic, EVs, I've, Natalie Knight, David Dee Delgado, Ram, China's, Patrick Hummel Organizations: Reuters DETROIT, Atlantic, PSA Groupe, Fiat Chrysler, Ram, CNBC, Amazon, New York, Auto, Reuters, Cox Automotive, UBS, GM, Ford Locations: Turin, Italy, U.S, Auburn Hills , Michigan, Manhattan , New York, China

☆ Sallie Mae hikes yield on 1-year CDs as Fed stays in rate policy holding pattern
▼ + stars: | 2024-06-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Last week, Sallie Mae boosted the annual percentage yield for its 12-month CD by 10 basis points, or 0.10% week over week, to 5.15%. Certificate of deposit rates have come a long way since the Fed started raising interest rates in March 2022. The average online bank APY has gone up by 4.14 percentage points to 4.79% since then, Wells Fargo analyst Michael Kaye said in a note Friday. Since banks generally follow the fed funds rate, interest rates on CDs and savings accounts are expected to fall in turn. "Broadly we still expect online bank deposit rates to decline," BTIG's Caintic said.

Persons: Sallie Mae, we're, Vincent Caintic, Wells Fargo, Sallie Mae's, APY, Wells, Michael Kaye, BTIG's Caintic, Morgan Stanley, BOK Organizations: Federal Reserve, Fed, New York Community Bancorp, Federal Deposit Insurance Corp, FDIC, Bank, Bank of America Locations: Wells, Wells Fargo, company's

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