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☆ Hawaiian Electric stock plunges 40% after lawsuit alleges it failed to shut power off ahead of the Maui wildfires
▼ + stars: | 2023-08-14 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

The suit alleges that Hawaiian Electric Industries “chose not to deenergize their power lines during the High Wind Watch and Red Flag Warning conditions for Maui before the Lahaina Fire started,” despite knowing the risks of sparking a fire in those conditions. The company and subsidiaries “also chose not to deenergize their power lines after they knew some poles and lines had fallen and were in contact with the vegetation or the ground,” the suit alleges. He added that Hawaiian Electric does not have a formal shut-off program in place, and precautionary shut-offs have to be arranged with first responders. Despite this, Hawaiian Electric (HE) did not enforce a public safety power shutoff, a temporary pause of service to certain areas due to increased fire risk. These included an $11 billion insurance settlement, as well as $1 billion paid to affected local governments.

Persons: ”, “, Jim Kelly, ” Kelly, CoreLogic, Josh Green, Hawaii’s, – CNN’s Andy Rose Organizations: New, New York CNN, Electric Industries “, Hawaiian Electric, CNN, Hawaii Gov, National Weather Service, Western Fire Chiefs Association, Electric, Pacific Gas and Locations: New York, Maui, Lahaina, Hawaii, Honolulu, California

Biden and UAW President Shawn Fain met briefly in the West Wing last month while UAW leadership was at the White House briefing senior staff on their positions. Fain has publicly warned that UAW is prepared to strike, saying nearly 150,000 members will strike if the three automakers do not meet their demands. Ford pointed out that it employs more UAW members and builds more cars and trucks at US plants than any other automaker. For the most part, those plants are joint ventures between automakers and battery makers, and thus will not be covered under the UAW contracts with the Big Three. But the union has yet to reach a deal with plant management on a contract, and workers there are paid about half of what UAW members are paid at the Big Three.

Persons: Joe Biden, –, —, ” Biden, Biden’s, Shawn Fain, Fain, Biden, ”, “, ” Ford, Stellantis, Ford, “ Stellantis, Vanessa Yurkevich Organizations: Washington DC CNN, United Auto Workers, – Ford, General Motors, “, AFL, CIO, UAW, Biden, Wing, White, Ford, Dodge, Chrysler, EV, CNN, Big, GM, Workers, LG Locations: Warren , Ohio

☆ Marion County Record seizure: Dozens of news organizations condemn police raid
▼ + stars: | 2023-08-13 | by ( Jon Passantino | ) edition.cnn.com time to read: +3 min

The Marion County Record’s co-owner and publisher, Eric Meyer, believes Friday’s raid was prompted by a story published Wednesday about a local business owner. Authorities countered they are investigating what they called “identity theft” and “unlawful acts concerning computers,” according to a search warrant. Computers, cell phones, and other materials were seized during the raid at the Marion County Record, Meyer confirmed to CNN. Newell told CNN the Marion County Record unlawfully used her credentials to get information that was available only to law enforcement, private investigators and insurance agencies. Chief Cody was not able to provide details on Friday’s raid, saying it remains an ongoing criminal investigation – but offered a justification.

Persons: Gideon Cody, Record’s, Eric Meyer, Friday’s, Meyer, Kari Newell, Newell, Cody, ” Cody, “, ” –, Sarah Moon Organizations: CNN, Sunday, Kansas, Freedom, Press, Marion Police, Associated Press, The New York Times, Washington Post, Los Angeles Times, Authorities, Computers, Marion County Locations: Marion

☆ Here’s who is on strike in LA, and what it means for Angelenos
▼ + stars: | 2023-08-08 | by ( Ellie Stevens | ) edition.cnn.com time to read: +5 min

The strike is the first by LA city workers in more than 40 years. Members voted to authorize the strike only after “repeated labor law violations” by Los Angeles city management, according to the union. “City workers are vital to the function of services for millions of Angelenos every day and to our local economy. Los Angeles city workers hold a rally outside the city hall during a one-day walkout strike in protest over labor negotiations, in Los Angeles, California, U.S., August 8, 2023. Los Angeles city departments are bracing for the impact of today’s work stoppage and attempting to mitigate disruptions to city operations.

Persons: ” David Green, “, ”, we’re, Lauren Lesure, Sarah Reingewirtz, ’, that’s, ” Green, Los Angeles Mayor Karen Bass, Green, Bass, Mike Blake, ” Dae Levine, –, Sam Delouya, Nadia Bidarian Organizations: CNN, Hollywood, LAX, SEIU, InterContinental, Downtown, MediaNews, Los Angeles Daily News, United Auto Workers, Ford, General Motors, Teamsters, UPS, Los Angeles Mayor, Los, Los Angeles World Airports Locations: Los Angeles, Southern California, InterContinental Los, Angeles, Northern California, Jose, California, Los, “ City, Los Angeles , California, U.S, United States

☆ Fitch US credit downgrade: Former Treasury secretaries react
▼ + stars: | 2023-08-06 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +4 min

CNN —The US economy is resilient, but policymakers need to take the long view on the country’s fiscal challenges, three former Treasury secretaries told CNN’s Fareed Zakaria on Sunday. “But it’s in some ways a very important wake-up call.”The downgrade came after a last-minute bipartisan deal in June that suspended the US debt ceiling until early 2025. I strongly disagree with Fitch’s decision, and I believe it is entirely unwarranted,” Treasury Secretary Janet Yellen said Wednesday. Meanwhile, the Biden administration is preparing new rules that could restrict investment in certain sectors in China, according to reports. When asked about US-imposed tariffs on China, Paulson said “we are working to close markets at the same time that China is doing business with more and more of the world.”“China is a major, major competitor,” he added.

Persons: CNN’s Fareed Zakaria, ” “, ”, Henry Paulson, George W, Bush, Janet Yellen, Paulson, “, ” Timothy Geithner, Geithner, ’, ” Robert Rubin, Bill Clinton, Zakaria, Biden, –, Jennifer Hansler, Gan, Juliana Liu Organizations: CNN, Fitch, AAA, Treasury Department, Capitol, Poor’s Locations: United States, China

☆ Tupperware may not go out of business after all
▼ + stars: | 2023-08-04 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

New York CNN —Tupperware was left for dead; a relic of a lost time when leftovers storage had but one dominant market player. In other words, Tupperware (TUP) has been given new life. Tupperware is still an extremely troubled brand, and the stock is still trading below $6 a share. Tupperware has been considering layoffs and property sales to stay afloat. Once sold exclusively by multi-level marketers, similar to Avon and Amway, Tupperware parties were a staple of a bygone era.

Persons: New York CNN — Tupperware, “, ”, Mariela Matute, aren’t, Tupperware, CNN’s Nicole Goodkind Organizations: New, New York CNN, Tupperware, ”, BlackRock, Amway, Target, New York Stock Exchange Locations: New York, Avon, noncompliance

☆ Taylor Swift urged to postpone LA shows amid hotel strike
▼ + stars: | 2023-08-03 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNN —“Swifties” heading to Los Angeles to see Taylor Swift concerts this week may find a large number of staff at their hotels on strike when they get there. Some California politicians wrote to Swift this week urging her to cancel her shows in LA, which run from Thursday through August 9. The politicians said Swift’s shows would be money makers for the hotels they are battling. Irfan Khan/Los Angeles Times/Getty ImagesThe open letter addressed to Swift said, “We are writing in support of the hotel housekeepers across Los Angeles. “In Los Angeles, hotels are doubling and tripling what they charge because you are coming… but many workers cannot afford to live close to where they work.

Persons: Taylor Swift, Swift, Gov, Eleni Kounalakis, JW, Beverly Hilton, Seasons Regent Beverly Wilshire, Irfan Khan, “, – CNN’s Chris Isidore Organizations: New, New York CNN, SoFi, Westin LAX, Democrat, CNN, Ritz, Carlton, JW Marriott LA, Anaheim Hilton, Seasons Regent, Hyatt Regency LAX, Los Angeles Times Locations: New York, Los Angeles, LAX, California, LA, Southern California, Orange, Fairmont Miramar, Anaheim, Los Angeles , CA

CNN —There may not be any lasting major negative ramifications from the surprise US credit rating downgrade by Fitch this week — not for the economy, not for consumers and not for the government’s ability to borrow. Normally, when your credit score as a consumer falls — or your credit rating as a country — there are negative consequences. Here’s why the United States is unlikely to see that kind of impact from the Fitch downgrade. The downgrade wasn’t a huge dropFitch cut its US credit rating to AA+ from what had been a sterling AAA rating. “Fitch’s credit rating is an expression of the probability of a default.

Persons: You’re, Fitch, “, brinkmanship, Marc Goldwein, you’re, ”, Mark Zandi, Yellen, Jamie Dutta, Dutta, ” George Mateyo, ” Mateyo, ” José Torres, Torres, it’s, ” Torres, Uncle Sam, CRFB, – CNN’s Krystal Hur, Allison Morrow Organizations: CNN, Fitch, AAA, Committee, U.S . Treasury, Moody’s, AA, “, Vantage, Key Private Bank, Federal Reserve, Interactive Brokers, Moody’s Investors Service, Treasury, Congressional, Social Security Locations: United States, States, corporates, United

☆ Incandescent light bulb ban: What you need to know
▼ + stars: | 2023-08-01 | by ( David Goldman | ) edition.cnn.com time to read: +3 min

New York CNN —America’s ban on incandescent light bulbs, 16 years in the making, is finally a reality. That effectively outlaws the manufacture and sale of common incandescent bulbs, the kind you screw into the vast majority of light sockets in your home. That’s because traditional incandescent bulbs provide just 15 lumens per watt, according to light bulb manufacturer Philips. Not all incandescent light bulbs are banned as part of the new rule, according to the Department of Energy. The ban caps off a decades-long bipartisan effort to ban incandescent bulbs that started in the Bush administration.

Persons: New York CNN —, Trump, Biden, Joe Biden’s, Bush, Donald Trump’s, Obama, Republicans “, CNN’s Ella Nilsen Organizations: New, New York CNN, Joe Biden’s Department of Energy, Philips, Department of Energy, Energy Department, US Energy Information Administration, Republicans Locations: New York

☆ AMC has best week in ticket sales led by Barbie and Oppenheimer box office wins
▼ + stars: | 2023-07-31 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +1 min

CNN —AMC Theaters (AMC) hit a revenue record last week, driven by the overwhelming success of the “Barbenheimer” pop culture craze. AMC attributed this 103-year high to the incredible opening weekend of both “Barbie” and “Oppenheimer,” as well as the strong momentum that continued to carry them along. “Barbenheimer” had tremendous staying power in its second weekend in theaters, with “Barbie” grossing $93 million and “Oppenheimer” almost $47 million, according to official studio numbers. It reported that 65 AMC locations across 19 states and Washington, DC, set their own box office records this week as well. In its opening weekend, Greta Gerwig’s “Barbie” had raked in a stunning $162 million domestically in its first weekend, giving the film the biggest opening weekend of 2023 and the largest-ever debut for a female director.

Persons: Barbie ”, “ Oppenheimer, ”, Barbenheimer ”, “ Barbie, Greta Gerwig’s “ Barbie ”, “ Oppenheimer ”, Barbie, Ramishah Maruf Organizations: CNN, AMC, Warner Bros Locations: Washington

☆ Airlines report soaring profits amid travel demands
▼ + stars: | 2023-07-28 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

CNN —International airlines have reported significant profits this year, boosted by strong demand for leisure travel – and events, such as the World Cup, which gave Qatar Airlines an enormous lift. On Thursday, International Airlines Group, which includes Aer Lingus and British Airways, announced a record profit of about $1.4 billion for the first half of the year. “Customer demand remains strong across the Group, particularly for leisure travel, with around 80% of passenger revenue for the third quarter already booked. Qatar Airways reported a $1.2 billion profit for the past fiscal year, ascribing its strong performance to December’s FIFA World Cup. In its report, Qatar Airways said that, throughout the 2022 World Cup, the company operated around 140,000 flights to bring more than 1.4 million people to Qatar.

Persons: Luis Gallego, Benjamin Smith, Akbar Al Baker, Michael O’Leary, – CNN’s Mostafa Salem, Pierre Meilhan Organizations: CNN — International, Qatar, International Airlines Group, Aer Lingus, British Airways, KLM Group, Amsterdam Schiphol Airport, Olympic, Paralympic Games, Air, Qatar Airways, KLM, FIFA, Ryanair, Europe’s Locations: AirFrance, Amsterdam, France, Air France, Qatar

☆ There are almost no national safety rules protecting US workers exposed to high heat
▼ + stars: | 2023-07-21 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

The National Weather Service recorded a high temperature of 97 degrees at the Dallas Love Field airport that day. The human body’s primary way to deal with high heat is through sweating, which cools the body when it evaporates. But despite these risks, getting a clear set of rules to protect workers from high heat has proved difficult. OSHA heat safety rulesEven without a specific heat standard, OSHA can fine employers that let heat get unsafe for workers under a “general duty” rule requiring safe work places. “That’s why a heat standard would be much more useful.”OSHA said protecting workers from heat is a major priority.

Persons: ”, Jordan Barab, “, ” Eugene Gates , Jr, Carla Gates, I’m, Kimetra Lewis, Gates, Larry Kenney, Kenney, Barab, Doug Parker, Marc Freedman, Biden, ” –, Angela Fritz Organizations: New, New York CNN, Occupational Safety, Health Administration, Biden, US Chamber of Commerce, AFL, “, Labor Statistics, Lakewood Post, National Weather Service, Dallas Love, US Postal Service, CNN, National Association of, Carriers, Penn State, First Street Foundation, OSHA, Commerce Locations: New York, California, Florida, Lakewood, Dallas, Gates, United States

☆ AMC Theaters scraps plans to charge more for good seats
▼ + stars: | 2023-07-20 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +1 min

In February, AMC (AMC) said it was rolling out the initiative to all of its roughly 1,000 movie theaters by the end of the year. The company said at the time that AMC theaters would offer three pricing tiers for tickets, with the highest-end “Preferred” tier in the middle of the theaters priced at a “slight premium” compared to its “Standard” tier. That standard tier, it said, would be sold for the “traditional cost of a ticket.” The third “Value” tier would be the lowest-priced tickets for seats in the front row. AMC said it is now pivoting away from Sightline and will not roll it out nationwide. Moving forward, AMC said it’s gearing up to test more spacious front rows, with seats that recline, in theaters nationwide later in the year.

Persons: – CNN’s Jordan Valinsky Organizations: New, New York CNN, AMC Locations: New York, Sightline

☆ Thousands of authors demand payment from AI companies for use of copyrighted works
▼ + stars: | 2023-07-19 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Washington CNN —Thousands of published authors are requesting payment from tech companies for the use of their copyrighted works in training artificial intelligence tools, marking the latest intellectual property critique to target AI development. In an open letter they signed, posted by the Authors Guild Tuesday, the writers accused AI companies of unfairly profiting from their work. “Millions of copyrighted books, articles, essays, and poetry provide the ‘food’ for AI systems, endless meals for which there has been no bill,” the letter said. “The high commerciality of your use argues against fair use,” the authors wrote to the AI companies. In May, OpenAI CEO Sam Altman appeared to acknowledge more needs to be done to address concerns from creators about how AI systems use their works.

Persons: Margaret Atwood, Dan Brown, Michael Chabon, Jonathan Franzen, James Patterson, Jodi Picoult, Philip Pullman, “, OpenAI, didn’t, Sarah Silverman, Margaret Atwood Rich Fury, Monika Skolimowska, Goldsmith, Andy Warhol, Prince, Warhol, Sam Altman, “ We’re, ”, –, Catherine Thorbecke Organizations: Washington CNN, Facebook, Google, IBM, Microsoft, OpenAI, Meta, Warhol

☆ US officials worry about ‘chilling effect’ on combating election disinformation after order limiting Biden administration contact with social platforms
▼ + stars: | 2023-07-14 | by ( Brian Fung Sean Lyngaas | Brian Fung | Sean Lyngaas | ) edition.cnn.com time to read: +13 min

The resulting uncertainty, they say, risks slowing the government and social media companies’ ability to respond to election-related disinformation that appears on tech platforms. Last week, the State Department canceled a routine meeting on election security with Facebook, according to a person familiar with the matter. On Wednesday, FBI Director Christopher Wray defended the close contacts between the US government and the social media companies. The injunction does contain some exceptions allowing more limited contact between affected agencies and social media companies. “Well, the government doesn’t necessarily have those capabilities to do that back-end work that the social media companies do.

Persons: Biden, ”, Chris Krebs, Krebs, Katie Harbath, Donald Trump, Christopher Wray, ” Wray, Trump, Harbath, Yoel Roth, Twitter’s, Gowri Ramachandran, “, ” Ramachandran, they’re, Ramachandran, Russia’s, ” Harbath, you’re, ’, Evelyn Douek, Jocelyn Benson, ” Benson, Adam Mosseri, Meta, ’ ”, Nick Clegg, Donie O’Sullivan Organizations: Washington CNN, Infrastructure Security Agency, CNN, State Department, Facebook, Justice Department, FBI, of Homeland Security, Health, Human Services, Twitter, “, Senate Intelligence, Department of Homeland Security, National Intelligence, Big Tech, Brennan Center for Justice, New York University, Stanford Law School, Meta, YouTube, Meta Global Locations: Louisiana, Missouri, State, Michigan

☆ Actors set to hit picket lines Friday in largest US strike in 26 years
▼ + stars: | 2023-07-14 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Actors are set to hit picket lines Friday morning in their first strike against film and TV productions since 1980 and the nation’s largest strike since 1997. This is the largest number of union members to be on strike since 180,000 Teamsters walked out on UPS in 1997. The Teamsters, who have 340,000 members at UPS, are threatening to strike the parcel delivery giant on August 1 without a new contract. The actors also join more than 11,000 member of the Writers Guild of America who have been on strike against the same studios and streaming services since May 2. Actors are due on picket lines in Los Angeles and New York at 9 am PDT and noon EDT Friday.

Persons: It’s, Ronald Reagan, ”, “, Duncan Crabtree, Fran Drescher, –, Natasha Chen Organizations: New, New York CNN, SAG, Teamsters, UPS, Writers Guild of America, Screen Actors, Management, Alliance, Television Producers, ” Locations: New York, Southern California, Los Angeles and New York, Ireland

☆ Actors are poised to go on strike against studios and streaming services
▼ + stars: | 2023-07-12 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

The actors could be on strike themselves without a last-minute deal with studios and streaming services on Wednesday. Production of many movies and television shows have already been shut down by the current writers strike. An actors strike would bring most remaining productions to a halt, other than on some independent films not associated with studios. This would be the first actors strike against television shows and movie productions since 1980. Just before the last deadline, it seemed as if an actors strike could be avoided.

Persons: haven’t, ”, Robyn Beck, It’s, Tom Nunan, Jonathan Handel, Handel, “, it’s, Blockbuster hadn’t, David Mumpower, Fran Drescher, —, Meryl Streep, Glenn Close, Jennifer Lawrence, Bob Odenkirk, Mark Ruffalo, Quinta Brunson, Rami Malek, you’ve, Theron, Joaquin Phoenix, Jamie Lee Curtis, Cobie Smulders, Pedro Pascal, Drescher, –, Vanessa Yurkevich Organizations: New, New York CNN, Screen, American Federation of Television, Radio Artists, Alliance, Motion Pictures, Television Producers, Apple, CBS, Disney, NBC Universal, Netflix, Paramount Global, Sony, CNN, Warner Bros ., Federal Mediation, Conciliation Service, SAG, UCLA School of Theater, Film, Television, Writers Guild of America, Blockbuster, AMPTP, Gabbana’s Locations: New York, AFP, Moda, Southern Italy

☆ Mark Zuckerberg's Meta launches Instagram's Threads app, a rival to Twitter amidst Elon Musk backlash
▼ + stars: | 2023-07-05 | by ( Samantha Kelly | ) edition.cnn.com time to read: +4 min

Meta's new Threads app Courtesy Meta“The vision for Threads is to create an option and friendly public space for conversation,” Meta CEO Mark Zuckerberg said in a Threads post following the launch. After downloading the app, users are asked to link up their Instagram page, customize their profile and follow the same accounts they already follow on Instagram. Verified Instagram accounts are also automatically verified on Threads. In this photo illustration, the app Threads from Meta seen displayed on a mobile phone. The escalating rivalry between the two companies only appears to have added to the rivalry between Musk and Meta CEO Mark Zuckerberg.

Persons: ”, Mark Zuckerberg, Meta, Elon Musk, Davide Bonaldo, ” parroting, Musk, “, Zuckerberg, –, Hanna Ziady Organizations: CNN, Facebook, Twitter, Meta, Wednesday, TweetDeck

☆ Smoke pours out of Tiffany & Co. flagship 5th Ave. New York store two months after reopening
▼ + stars: | 2023-06-29 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

New York CNN —A fire near Tiffany & Co.’s newly renovated flagship store in New York City sent smoke pouring out of the building on Thursday. Firefighters responded to a transformer fire that began in an electrical vault next to the jewelry store’s 5th Avenue location in Manhattan. Videos on social media showed dark plumes of smoke coming out of the historic building and spilling into the street. The fire comes just over two months after Tiffany officially reopened the doors of its 10-floor limestone flagship shop. The 5th Avenue flagship accounted for 10% of the brand’s global sales before it closed for renovations.

Persons: Firefighters, Tiffany, Bernard Arnault’s LVMH, Arnault, ” Tiffany’s, Jean, Michel Basquiat, Julian Schnabel, –, Zenebou Sylla Organizations: New, New York CNN, Tiffany, The New York Fire Department, FDNY, Wall Street Locations: New York, New York City, Manhattan, The

New York CNN —Hundreds of thousands of US airline customers were stranded this week as severe weather grounded planes and led to canceled flights. As of 8:30 am ET, FlightAware tracking service reported there were 687 flights canceled and another 1,200 delays. Although that’s better than the 2,200 canceled flights in each of the last two days, or the more than 16,000 delayed flights between Monday and Tuesday, it’s hardly a smooth-running operation. Staffing shortageThe US air travel system is unable to recover quickly from widespread weather problems, because it doesn’t have the bodies to deal with the disruptions. The airline canceled 461 flights this past Saturday and Sunday and delayed another 1,972 flights, according to data from flight tracking site FlightAware.

Persons: that’s, it’s, Ed Bastian, ”, Scott Kirby, Kirby, ” Kirby, United, “, Paul Thacker, ” Thacker, “ ”, ” Michelle Maciel, Pete Muntean, Gregory Wallace Organizations: New, New York CNN, Federal Aviation, Airport, Transportation, Administration, FAA, Newark Airport, United, United Airlines, CNN, Newark Liberty International Airport, Association of Flight, DC, Greyhound Locations: New York, Boston, New York City, Madrid, United’s, Newark, Toronto, Denver, Portland Oregon

☆ OceanGate Expeditions' Titanic tourism is a thing, and it's dangerous
▼ + stars: | 2023-06-21 | by ( Samantha Delouya | ) edition.cnn.com time to read: +9 min

But for those willing to shell out, tourism and research company OceanGate Expeditions offered eight-day missions that allow customers to explore the Titanic more than 13,000 feet below the ocean’s surface using five-seat carbon fiber and titanium underwater vessels. OceanGate launched successful expeditions to the Titanic wreckage in 2021 and 2022. Geoffrey Kent, the founder of luxury travel company Abercrombie & Kent, has recently planned trips for clients including race car driving on ice in Finland and orangutan trekking in Borneo. OceanGate CEO Stockton Rush has also repeatedly claimed that existing submersible regulations needlessly prioritize passenger safety over commercial innovation. But it also hasn’t innovated or grown—because they have all these regulations,” Rush said in an interview that appeared in a June 2019 issue of Smithsonian Magazine.

Persons: –, ”, Nick D’Annunzio, TARA, OceanGate, Stockton Rush, Andrea Doria, Bill Sikes, Rush, Knight Frank, “, Gideon Kimbrell, Everest’s, Richard Branson, Jeff Bezos, Geoffrey Kent, Sal Mercogliano, hasn’t, It’s, ” Rush, David Pogue, don’t, “ Don’t, ” It’s, D’Annunzio, Ann Epting, Epting, Brad Lendon, Parija Kavilanz Organizations: CNN, OceanGate Expeditions, US Coast Guard, Expeditions, Stockton Rush, Rescuers, OceanGate Foundation, Virgin Galactic, Virgin, VSS Unity, Origin, Elon Musk’s SpaceX, Abercrombie, Kent, Campbell University, Smithsonian Magazine, CBS, Federal Aviation Administration, SpaceX, FAA, Kent’s, Abercrombie & Kent Locations: Everett , Washington, Boston, Stockton, Finland, Borneo, North Carolina, Oman

☆ Deciding what to do when your employer changes the rules on remote work
▼ + stars: | 2023-06-09 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

New York CNN —If you’ve organized your life around a fully remote or highly flexible hybrid work schedule over the past three years, it can feel jarring if your employer decides to change the rules on remote work and require or enforce more on-site attendance. This, despite the company previously telling staffers most of them would be working remote full time, according to the Wall Street Journal. In addition, according to CNBC, it also said it hopes that employees working remotely full time will consider working a hybrid schedule instead if they live near a Google office. “Changes in remote work policies can certainly create significant risk to employee retention and engagement, depending on how drastic the changes are and how effectively they are executed by managers,” Wigert noted. What do you need to do your best work?

Persons: John Stankey, “, ”, Caitlin Duffy, ” Gallup, Ben Wigert, ” Wigert, you’re, Octavia Gordema, Gordema, you’ve, Duffy, ” Gordema, ” –, Catherine Thorbecke Organizations: New, New York CNN, T, Bloomberg, Farmers Insurance Group, Wall Street, Google, CNBC, Gartner Consulting, Gallup, “ Locations: New York

☆ Saudi Arabia's Public Investment Fund just reshaped professional golf with the PGA Tour-LIV merger. That's just the start
▼ + stars: | 2023-06-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

The Saudi Public Investment Fund is a government-controlled fund that has $650 billion in assets under management, according to its most recent filing. A state-owned investment fund like the PIF is not unique. Critics of LIV Golf accused the Saudis of backing the new tour as a form of “sportswashing” its reputation. For example it’s not clear exactly how much it invested to start up LIV Golf. CNN has not been able to confirm that report, but what is known is that LIV Golf tournaments have been held on Trump Organization properties.

Persons: petro, LIV Golf, LIV, Yasir Al, Rumayyan, Cristiano Ronaldo, Karim Benzema, ”, Elon Musk, Jared Kushner, Donald Trump’s, Kushner, Mohammed bin Salman, Bin Salman, Jamal Khashoggi, – CNN’s Coy Wire, Jack Bantock, Steve Almasy Organizations: New, New York CNN, Saudi, Saudi Public Investment Fund, Sovereign Wealth Fund, PGA, Soccer, Saudi Aramco, Newcastle United, Saudi Pro League, CNBC, Electronic Arts, EA, Activision Blizzard, Ticketmaster, Carnival Corp, Twitter, Washington Post, CNN, Trump Organization, US State Department, Congress Locations: New York, Europe, Saudi, English, Al, Saudi Arabia, al Qaeda

☆ With these many jobs, do we no longer have to worry about a recession?
▼ + stars: | 2023-06-03 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

But for every recession alarm bell, the continued strength in the labor market seems to be an answer to those worries. “I think even in a recession environment, we’re going to have a relatively strong job market. “It’s still possible that the case of avoiding a recession is, in my view, more likely than that of having a recession. Jobs market still hot, but coolingThat’s not to say that the jobs market hasn’t slowed down. Powell said he’s not particularly worried about the cooling of the labor market over the last year.

Persons: That’s, ”, Jamie Cox, they’re, Mark Zandi, “, I’ve, we’ve, Dave Gilbertson, Jerome Powell, “ We’ve, ” Powell, It’s, Julia Pollock, Powell, he’s, —, ZipRecruiter’s Pollock, – CNN’s Bryan Mena Organizations: New, New York CNN, Labor Department, Costco, Federal Reserve, Harris Financial Group, Moody’s Analytics, Target, Labor Locations: New York

☆ Twitter may be worth only a third of its pre-Musk value, Fidelity says
▼ + stars: | 2023-05-31 | by ( Brian Fung | ) edition.cnn.com time to read: +1 min

Washington CNN —A Fidelity fund has slashed its estimate of Twitter’s value amid ongoing chaos at the company, implying the social media platform may be worth only a third of its value compared to when Elon Musk acquired it in October. According to a monthly disclosure, Fidelity’s Blue Chip Growth Fund reported that its stake in Twitter was worth $6.55 million at the end of April. That’s down from the $19.66 million the Fidelity fund said its stake was worth in October as Musk was finalizing the acquisition. The revision implies Twitter may be worth only $15 billion overall, as opposed to Musk’s $44 billion purchase price. Fidelity has repeatedly marked down Twitter’s value.

Persons: Elon Musk, That’s, Musk, Linda Yaccarino, – CNN’s Matt Egan Organizations: Washington CNN, Elon, Growth Fund, Twitter, Fidelity, Reuters, Bloomberg

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