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Read previewAnother Boeing whistleblower has come forward, saying that he witnessed 787 Dreamliner planes being built in a manner that could lead to a "catastrophe down the line." Richard Cuevas was a Strom airplane mechanic who used to work as a contractor for Boeing and Spirit AeroSystems. He said that in 2023, he witnessed substandard manufacturing of the 787 planes' forward pressure bulkheads, which help maintain air pressure. AdvertisementHowever, in March, a few months after he reported his findings to Boeing and Spirit AeroSystems, he was fired from his job, the complaint said. Cuevas' lawyers and representatives of Boeing and Spirit AeroSystems didn't immediately respond to a request for comment from Business Insider, made outside regular working hours.
Persons: , Richard Cuevas, Cuevas, AeroSystems, Sam Mohawk, Merle Meyers, John Barnett, Barnett, BI's Matthew Loh, AeroSystems didn't Organizations: Service, Boeing, Business, Federal Aviation Administration, Korean, Max, United Airlines Boeing, San Francisco International, Alaska Airlines Locations: Charleston, Taiwan
But we knew there had to be more to visiting the Grand Canyon. Grand Canyon West features the world-famous Skywalk, a glass walkway on a canyon's edge. Another way to access the South Rim is via The Grand Canyon Railway, which begins in Williams, Arizona. Visitors forget to enjoy the sweeping views from multiple vantage pointsOnce you're in Grand Canyon Village, board a complimentary shuttle. Even so, we still carry a paper map with us when we go to the Grand Canyon.
Persons: , we've, it's, KrissAnn Valdez, Moran, Theodore Roosevelt, Albert Einstein, Oprah Winfrey, Anthony Baylor, we'd Organizations: Service, Business, Railway, Myers, Norwegian Villa, National Park Service, Park Service Locations: Arizona, North, Grandview Point, Williams , Arizona, Canyon, Mohave, , Swiss, Norwegian
CX employees must now live within 60 miles of one of seven "hubs" — Atlanta, Salt Lake City, Reno, Dallas, Austin, Chicago, or Pittsburgh. AdvertisementPatagonia verified the details of the announcement to BI, confirming that 90 of 255 CX staff in the US were affected. Both employees BI spoke to said they were accepting the severance and did not know anyone who was considering relocation. AdvertisementPatagonia spokesperson Corley Kenna told BI several employees had already indicated they would relocate. Advertisement"The reality is that our CX team has been running at 200% to 300% overstaffed for much of this year," Kenna told BI.
Persons: , Amy Velligan, Bruce Old, George Frey, I've, Corley Kenna, Kenna, We've, Yvon Chouinard, Harris, Chouinard, Jean, Marc Giboux, Yvon Chouinard's, Yvon, it's Organizations: Service, Business, Workers, Walmart, Patagonia, BI, Reno, New York Times, Washington Post Locations: Patagonia, Atlanta, Salt Lake City, Reno, Dallas, Austin, Chicago, Pittsburgh, California, Ventura, Nevada
“The thing that I really liked about Estonians, and Estonians have never believed me when I say this, but I liked how friendly they were,” he says. Reflecting on his first years in Estonia, Johnson notes that things were very different to how they are now. “Quite often, people don’t really believe that that’s possible,” he says. Marcus Lindstrom/iStockphoto/Getty ImagesAlthough his day to day life may be very different in Estonia, Johnson feels that things aren’t very different scenery wise. “And they decided to become a very modern country… Really, it’s been the experience of a lifetime, being able to watch this kind of transformation over a quarter of a century.”
Persons: hadn’t, Stewart Johnson, didn’t, he’d “, , ” Johnson, Johnson, , , ‘ Don’t, you’re, , Katrin Press “, I’ve, don’t, Chuck, chemo, he’s, Stewart Johnson “, it’s, , Marcus Lindstrom, “ It’s, “ I’ve, You’re Organizations: CNN, CNN Travel, Foreign Service, Estonia “, Comedy, Locations: Canada, States, Wisconsin, America, Estonia, Soviet Union, that’s Tallinn, Estonian, Europe, Northern, Tartu, , Comedy Estonia, Tallinn
CNN —Playing safe is not an option for wildlife photographer Greg du Toit. Unlike many in his field, du Toit says he doesn’t use bait, camera traps, digital manipulation, captive bred animals or drones. Du Toit says that his photographs may look beautiful, "but the reality of getting those photographs is very different." Du Toit famously once spent 16 months photographing lions at a waterhole in Kenya’s South Rift Valley. Du Toit: I want to photograph animals in their wild habitats, doing what they naturally do.
Persons: Greg du Toit, Toit, Du Toit, it’s, Simon YM Pang, … Du Toit, I’d, I’ve, , I’m Organizations: CNN, Nikon, Wildlife, Fine, Simon YM Pang CNN, Greg du Toit CNN Locations: , Zambia, Zimbabwe, Tanzania, Africa, India
The Vinfast VF6 all-electric vehicle is on display at the 2022 Los Angeles Auto Show on Nov. 18, 2022 in Los Angeles, California. Vietnamese automaker VinFast, for a short time the third-most valuable car company in the world, has a big problem: It just can't sell enough cars. Designed specifically for the Vietnamese and other Asian markets, the VF3 is priced for "mass appeal," according to VinFast. VinFast's future matters for Vietnam, both because its ambitions dovetail with the Communist Party's own goals, and because of parent company Vingroup's large role in the Vietnamese economy. "We will never let VinFast go," he told Vingroup shareholders at their annual general meeting in April, according to state media.
Persons: Le Thi, VinFast, It's, Vingroup, Pham Nhat Vuong, Tu Le Organizations: Angeles Auto, Nasdaq, General Motors Corp, Ford Motor Co, Communist, Vingroup's, U.S . Securities, Exchange Commission, Sino Locations: Los Angeles , California, Le, U.S, VinFast, North Carolina, California, Vietnam, Ukraine, Asia
"Wire $300,000 dollars to bitcoin account within 12 hours," the email to Kirkhorn added, according to the incident report. The case was ultimately suspended and no arrest was ever made, according to the incident report and Dark. AdvertisementSome Tesla workers told BI that tight production deadlines and the intensity of the work could sometimes create a high-pressure environment. We were just standing outside the building waiting to go back to work," one worker, who was there during the ordeal, told BI. The sheriff's office told local news at the time that the building was cleared and there was "nothing to substantiate the presence of a shooter at all."
Persons: , Elon Musk, Musk, Tesla, Zachary Kirkhorn, Zachary Kirkhorn —, Austin Gigafactory, Kirkhorn, Travis, Kristen Dark, SUZANNE CORDEIRO, Austin, Joe Biden, Justin Mathew McCauley of, McCauley's, McCauley, Justin Sullivan, they'd, Apu Gomes, X, Mark Zuckerberg, Zuckerberg, Meta, Sheryl Sandberg, John Lennon Organizations: Service, Business, Securities, Exchange Commission, BI, YouTube, Tesla's, Tesla, Street Journal, Office, Musk, FOX, Austin, Factory, Getty, Elon, SEC, Meta, Twitter, BBC Locations: Austin, Travis, Texas, Nigeria, Justin Mathew McCauley of Minnesota, Minnesota, Fremont , California, Tesla's, Sparks , Nevada, Nevada
New York CNN —CDK Global said Wednesday that it has been able to bring a “small initial test group” of car dealerships back online, a week after a crippling software outage left thousands of car sellers across North America at a standstill. “We have successfully brought a small initial test group of dealers live on the Dealer Management System (DMS), and once validation is complete, we will begin phasing in other dealers,” a statement said. The company said it’s also working to bring additional applications back online, such as its customer relationship management and service solutions, as well as its customer care channels. On Tuesday, CDK said it doesn’t believe its systems will be back online before June 30, a major blow for dealers in the middle of a busy car-buying season. A systems outage caused by a cybersecurity incident has paralyzed nearly 15,000 car dealerships across North America since last Wednesday.
Persons: CDK Global, it’s, CDK Organizations: New, New York CNN, North, Dealer, ” Auto Locations: New York, North America
HEFEI, China — The man who spearheaded China's electric car strategy on Wednesday said that Chinese investment in the European electric vehicles industry could be a way forward for both sides amid trade tensions. Spokespersons for China's foreign ministry and the European Commission were not immediately available when contacted by CNBC. China's Ministry of Commerce said over the weekend that it was launching consultations with the EU over the bloc's probe into the role of subsidies in Chinese electric cars. The EU said earlier this month that it would increase tariffs on imports of the vehicles. "Even though we are not exporting a large number of EVs, perhaps the Chinese companies can try investing in Europe," Wan said, noting that such funding could create local jobs.
Persons: Wan Organizations: Wan Gang, China Association for Science, Technology, European Commission, CNBC, China's Ministry of Commerce, EU Locations: HEFEI, China, EU, Dalian, Europe
Waymo robotaxis open to all users in San Francisco
  + stars: | 2024-06-26 | 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 EmailWaymo robotaxis open to all users in San FranciscoCNBC's Deirdre Bosa joins 'Money Movers' to discuss the latest on self-driving car company, Waymo.
Persons: San Francisco CNBC's Deirdre Bosa Locations: San Francisco
All this is reflected in its continued status as the world's most expensive city," the report said. Singapore was followed by Hong Kong, which upstaged Shanghai to emerge as the second most expensive city for the wealthy. Prices for hotel suites (+22.9%), ladies' shoes (+12.7%), and ladies' handbag (+8.6%) saw the biggest increases in the city. London Hotel suites and jewelry were the second-most expensive items across the 25 cities, with prices soaring 38.3% and 17.%, respectively. Here's Julius Baer's list of the world's 10 most expensive cities for high net worth individuals:
Persons: Julius Baer, normalizations, Here's Julius Baer's Organizations: Wealth, Private Locations: Singapore, Swiss, U.S, Hong Kong, Shanghai, London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCar dealers say system outage from hack could persist until June 30thCNBC's Melissa Lee reports on the latest news about the CDK hack and Solera's upcoming IPO.
Persons: Melissa Lee
Inflation’s Wild Ride
  + stars: | 2024-06-26 | by ( Jeanna Smialek | Karl Russell | Lazaro Gamio | ) www.nytimes.com   time to read: +4 min
Coming into and through 2019, the economy was strong and the Consumer Price Index, a key measure of inflation, was low. For some, that seemed like a bad thing — economists worried that chronically low inflation could increase the risk of future economic stagnation. The Personal Consumption Expenditures index, a slightly delayed price measure that the Fed uses for its 2 percent inflation target, similarly fell. Within a few months, inflation began to pick up. Price jumps began to moderate even in service categories, which made economists hope that the deceleration might be the real deal.
Persons: , Biden, Donald J, Trump, Price, ” Jerome H, Powell, ” Mr Organizations: Fed, Consumer, Federal Locations: Covid, Ukraine, blowups
Last month there were $122 billion of transactions at car dealerships, according to Commerce Department estimates. That accounts for 17% of all retail sales in May. An outage lasting through June 30 would mean 10 days without dealership access to CDK. Now here’s where it gets even more glaring: Retail sales aren’t just some minor part of the economy. Consider yourself warned: You may want to hold off on looking at your 401(k) on July 25, when the government releases second-quarter GDP estimates.
Persons: Ramishah Maruf, Peter Valdes, CDK, Russell Price, ” Price Organizations: New, New York CNN, North America, Commerce Department, Ameriprise, CNN Locations: New York
"However, the longer these warning lights flash, the more painful the repair bill (market correction) will be," Johnson said. .SPX YTD mountain S & P 500 Stocks have surged this year largely due to the outperformance of artificial intelligence mega-cap technology companies such as Nvidia. The S & P 500 and Nasdaq Composite are higher this year by roughly 15% and 18%, respectively. Just last week, the S & P 500 breached 5,500 for the first time. Johnson anticipates the S & P 500 will end the year at 5,050, or 7% lowerthan where it closed Tuesday.
Persons: Piper Sandler, Craig Johnson, Johnson Organizations: Nvidia, Nasdaq Locations: Tuesday's
Neil Hennessy said investors need to look at value stocks that offer attractive price-to-sales multiples and avoid what he sees as a dying "Magnificent Seven" trade. While Hennessy admitted that the Magnificent 7 stocks have performed well, he said their average price-to-earnings multiple sits at around 47 while their price-to-sales multiple is above 12. "The reality of our world is money is shifting over to value," said the University of San Diego alum. But Hennessy said the stock is attractively priced, with a price-to-sales multiple of 0.9 and P/E ratio of just 7. But the average price target implies the stock can turn around and surge more than 27% over the coming year.
Persons: Neil Hennessy, Hennessy, I'm, SPX Organizations: Oshkosh Corp, University of San Diego, Oshkosh, LSEG
In downtown Nairobi, the capital, the strong smell of tear gas still wafted through the air after the clashes between protesters and the police. Large rocks and a burned car were strewed next to the City Hall offices that protesters had breached. Police officers also cordoned off the streets leading to Parliament and were not allowing pedestrians to pass. Although businesses were slowly reopening across Kenya, newspapers being sold on the streets of Nairobi captured the chaos of the previous day. “Pandemonium,” the front page of the Daily Nation newspaper said.
Persons: William Ruto Organizations: City Hall, Police, Daily Nation, The Star Locations: Kenya, East, Nairobi
Fears among top corporate CFOs about shaky consumer demand have hit a six-quarter higher, according to the latest CNBC CFO Council survey, with the Q2 survey the first time since the beginning of 2023 that over half of CFOs cited consumer demand as the biggest external risk to their business. Consumer demand fears among CFOs have been rising in recent quarters, and match evidence from the market across sectors, with fast-food chains rushing out value menus and car dealers having more difficulty moving inventory. The 54% of CFOs who cited consumer demand as the biggest risk is up from 18% a year ago, and 37% last quarter. Last quarter, almost half of CFOs forecast a 10-year yield that would dip below 4% by the end of the year. But now, CFOs have pushed out their inflation view even further.
Persons: Walmart's, isn't, CFOs, Jerome Powell, it's, Donald Trump Organizations: CNBC, Food, Federal Reserve, Fed, Dow Jones, Biden
Read previewIt has been nearly eight years since my three Welsh children have visited my family in the United States. Bigger cars and bigger roadsAfter landing in Washington, DC, and retrieving our bags, we entered the parking lot. The two older kids quickly observed that the cars weren't like the ones in the UK. My kids immediately noticed that, along with cars, the roads in the US are much bigger than in the UK. "All the food is big," one of them whispered to me as he gazed at the shelves of food.
Persons: , it's, we've, they've, Bob Evans Organizations: Service, Business, DC, AC Locations: United States, Washington ,, GMCs
London CNN —Nvidia, Nvidia, Nvidia. Nvidia’s stock bounced back Tuesday, yet investors have been reminded of a potentially bubble-bursting truth: You can fly too close to the sun. For context, it took Warren Buffett about 60 years to build Berkshire Hathaway into a nearly trillion dollar company. But typical volatility can have seismic repercussions when it comes to a stock as all-consuming as Nvidia. Analysts at The Carlyle Group say that while artificial intelligence is revolutionizing the world around us, the Nvidia stock bubble will eventually burst.
Persons: Warren Buffett, Berkshire Hathaway, Microsoft’s, , Jim Smigiel, Louis Navellier, Nvidia’s, ” Jochen Stanzl, Emily Bowersock Hill, Jason Thomas, Carlyle’s, ” Neil Roarty, Stocklytics, , Levi’s, , LEVI, ” Read, Ryan Callahan, ” Callahan, CDK, Tom McParland Organizations: CNN Business, Bell, London CNN, Nvidia, Berkshire, Deutsche Bank, SEI, Navellier, Associates, CMC, CNN, Bowersock Capital Partners, The Carlyle Group, ’ Association, Mazda, North America, Automatic Consulting Locations: London, Turkey, Istanbul, Seekonk , Massachusetts
Volkswagen's $5 billion investment in electrical vehicle startup Rivian is a "catch-up move" for the German automaker, but could take years to pay off, according to Cyrus Mewawalla, head of thematic intelligence at GlobalData. Volkswagen and Rivian on Tuesday announced that the German auto maker would invest as much as $5 billion in Rivian in the coming years following an initial $1 billion investment. Rivian shares were up 42% in premarket trading on Wednesday. "Volkswagen has fallen behind in two areas, on electric vehicles themselves, but also on autonomous driving and other software within the car. The investment will therefore help Volkswagen in these areas, but the firm is notably behind in the electric vehicle space, he added.
Persons: Cyrus Mewawalla, Mewawalla, CNBC's Organizations: Volkswagen Locations: Rivian, Europe, London
The allegations provide a window into the scale and force of this Israeli operation to free hostages taken during the attack on Israel last October. The UN human rights office (OHCHR) warned that Israeli forces and Palestinian armed groups may have committed war crimes through their actions. CNNMohammad told CNN that before the Israeli forces withdrew, they threatened to shoot his relatives, after which he heard gunshots. “I called the ambulance, but they said they cannot come because the area is dangerous,” Mohammad told CNN. Palestinians inspect the damage a day after Israeli forces launched an operation to rescue four hostages, in Nuseirat, central Gaza, on June 9.
Persons: fleck, Abdel Miqdad shudders, Yamen, , , Jeremy Laurence, ” Israel, , Mohammad, , ” Mohammad, Rasha, ” Rasha Abdel Miqdad, Zain, Abdul Raouf, Ahmad, ” Ahmad, CNN Mohammad, ’ ” Mohammad, Richard Weir, Trevor Ball, Weir, Eyad Baba, clamor, Médecins, Karin Huster, Maryame El Abbassi, Mumen, Khan Younis, ” Mumen Organizations: CNN, ” CNN, Israel Defense Forces, Israeli Paratroopers Reconnaissance Battalion, Health, UN, IDF, Flames, Artillery, , IMI, Military Industries, Human Rights Watch, US Army, Awda, Aqsa Martyrs Hospital, Nasser Hospital, Getty, Humanitarian Affairs Locations: Gaza, Israel, Rafah, Nuseirat, , Al, Aqsa, AFP, Khan
In his new film, “Kinds of Kindness,” though, Yorgos Lanthimos goes further. Jesse Plemons is Robert in Yorgos Lanthimos’ new film, “Kinds of Kindness." Workplace harassment is a pervasive problem in a huge range of professions, from farm work to domestic labor to Hollywood itself. Remote work saves companies money by reducing rent and relocation costs, and because workers who work from home are more satisfied with fewer pay raises. People in “Kinds of Kindness” are pushed to mistake domination for kindness.
Persons: Noah Berlatsky, Yorgos Lanthimos, Lanthimos, Noah Berlatsky Noah Berlatsky, Emma Stone, Jesse Plemons, Willem Dafoe, Margaret Qualley, Hong Chau, Joe Alwyn, Mamoudou Athie, Hunter Schafer, Robert, Plemons, Raymond, Dafoe, , Chau, balk, Raymond’s largesse, don’t, Yorgos, Atsushi Nishijima, MeToo, Harvey Weinstein, Jamie Dimon, Raymond isn’t, Raymond kisses Robert, Emily, Stone, Omi, she’s, Donald Trump’s, Steve Wozniak, Musk, Steve Jobs, Trump, Roberts Organizations: CNN, Searchlight, Hollywood, JPMorgan, Elon, Apple Locations: Chicago, Hong, Hollywood
Adam Jonas, a well-known auto analyst at the investment bank, said Ford remains his top pick in the auto sector. Now, Jonas said Ford could take the spotlight as the focus within the sector shifts from electric vehicle investment to capital discipline. It comes at a tumultuous time for automakers as they grapple with softer-than-anticipated electric vehicle demand. Given an ongoing "unwind" in the electric vehicle story, he said Ford has the potential to flip the stock performance. Jonas' $17 price target for Ford implies the Detroit-based company's stock can rally around 39% over the next 12 months.
Persons: Morgan Stanley, Adam Jonas, Ford, Jonas, outperformance Organizations: Ford, General Motors, GM Locations: Detroit
One is to fix problems with trim pieces, which can loosen and fall off the trunk, and the other is to address faulty motor controllers in the front windshield wipers. The report said a "non-functioning windshield wiper may reduce visibility in certain operating conditions, which may increase the risk of a collision." Tesla plans to replace the motor controller in the Cybertruck windshield wipers for customers. An earlier Cybertruck recall was issued to repair an accelerator pedal issue. The recall disclosures for the windshield wiper issue said that from Nov. 13, 2023, to Jun.
Persons: Tesla, , didn't, Elon Musk, Musk, Tesla's, It's Organizations: National, Traffic Safety Administration, Ford, Tesla Locations: U.S, Austin , Texas, China
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