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The organizers of the 2028 Summer Olympics in Los Angeles have promised to have the most ambitious sports program ever and sell more tickets than any other Games. LA28, the organizing committee, announced on Friday that the swimming competition at the 2028 Games would be held at SoFi Stadium, the home of the Rams and Chargers, the city’s two N.F.L. There will be at least 35,000 seats for fans, double the size of typical venues used for most Olympic swimming events — which, along with gymnastics and track and field, are one of the biggest draws for the Olympics. The decision to move the swimming events into the gleaming SoFi Stadium is a reflection of the economics of hosting the Olympics. This year’s Games, which begin in Paris at the end of July, may break even, officials have suggested.
Persons: , ” Casey Wasserman Organizations: SoFi, Rams, Chargers Locations: Los Angeles, Paris
Overall, Mr. Trump was a daunting $100 million behind Mr. Biden at the start of April. And for the first time, Mr. Trump’s principal campaign committee had more cash than Mr. Biden’s: $116.5 million to $91.6 million. report does not translate to boots on the ground tomorrow,” Dan Kanninen, Mr. Biden’s battleground states director, said in an interview. So far, Mr. Biden has enjoyed a tremendous advertising advantage over Mr. Trump. Hopefully that changes as we get even closer.”For now, Mr. Biden is racing to replenish his coffers in June.
Persons: Donald J, Trump, Biden, outpacing, Trump’s, , Brian Derrick, ” Mr, Timothy Mellon, “ What’s, Dan Kanninen, Donald Trump, ” Steven Cheung, Mr, Joe, President Trump, Cheung, Jimmy Kimmel, Barack Obama, Erin Schaff, Nikki Haley, Haley’s, John Paulson, Stephen A, MAGA, Rufus Gifford, Mitt Romney, Barack Obama’s, Jon Reinish, He’s, Obama, Terry McAuliffe, Bill Clinton, — Andy Beshear, JB Pritzker, Gretchen Whitmer Organizations: Mr, Democratic National Committee, Republican National Committee, Trump, Biden, Democratic, Republican, The New York Times, Blackstone, Make, Inc, MAGA Inc, Hollywood, Illinois Locations: New York, Los Angeles, Trump’s Florida, Mar, AdImpact, Pennsylvania, Georgia, Virginia, Kentucky, Michigan, Atlanta
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCEA Chair Jared Bernstein: We're taking aggressive action to lower costs for AmericansJared Bernstein, President Biden’s Council of Economic Advisers chair, joins 'Squawk Box' to discuss the state of the economy, what President Biden is doing to lower the cost for living for Americans, government spending, impact on the federal budget deficit, and more.
Persons: Jared Bernstein, Biden Organizations: Biden’s, Economic Advisers
Read previewChina has spent at least $230 billion on government support to electric vehicle makers such as BYD since 2009, according to a new study from the Centre for Strategic & International Studies think tank. Government subsidies have been a central pillar of China's quest to become an EV powerhouse over the past decade. AdvertisementChina is now the world's largest electric vehicle market, accounting for 60% of global EV sales in 2023, per the IEA — well above rivals like the US and Japan. EV makers in China can get government support through several routes, including infrastructure subsidies, tax exemptions, and buyer rebates. Massive government support has cultivated intense competition among China's legion of EV companies, which in turn has led to low prices.
Persons: , BYD, Tesla Organizations: Service, Centre, Strategic & International Studies, Business, European Union, EV, CSIS, Battery, Penn Wharton University Locations: China, Europe, Japan, America
AdvertisementThat's three years later than the Air Force planned to have the re-engined planes operating. U.S. Air Force photo by Tech. A U.S. Air Force B-52H Stratofortress assigned to the 20th Expeditionary Bomb Squadron at Barksdale Air Force Base, Louisiana, arrives on the flightline August 4, 2023, as part of a Bomber Task Force mission at Andersen Air Force Base, Guam. The Air Force plans to keep the planes in service until 2050, almost 100 years after the first B-52 entered service. The Air Force continues to rely on the B-52s for long-range strategic bomber missions, even though they lack the speed of the B-1 Lancers and the stealth of the B-2 Spirits.
Persons: , Joshua J, Garcia, Nia Jacobs Organizations: Service, US Air, Business, Air Force, Royce, Pilots, 2nd Bomb, RAF Fairford, U.S . Air Force, Tech, Inside Defense, Department of Defense, 20th Expeditionary Bomb, Barksdale Air Force Base, Bomber Task Force, Andersen Air Force Base, The Air Force, Lancers Locations: United Kingdom, Louisiana, Guam, U.S, Arizona
New York CNN —CDK Global is ubiquitous in the auto dealership world – its software is used at 15,000 dealers. Here’s what the CDK Global outage means for both car sellers and shoppers. Post Memorial Day, “this presents increased opportunities for vehicle sales, service and, of course, revenue. It also means that it’s time to roll out your summer Sales and Service marketing campaigns.”Can I still buy a car? Ford also said its dealerships involved in the CDK outage have alternate ways to take care of customers.
Persons: There’s, it’s, CDK, Lisa Finney, ” Finney, aren’t, Jeff Ramsey, , Brian Benstock, Ramsey, Ford, ” Ford Organizations: New, New York CNN, CDK Global, CNN, Service, Ourisman Auto Group, Paragon Honda, Paragon Acura, Kia, Toyota, Dodge, Lincoln Locations: New York, United States, Canada, Maryland, Long Island City , New York, Ford
Affording a home has been a Herculean challenge in recent years due to rising property prices and stubbornly high mortgage rates. That means only 20% of the markets surveyed have homes selling for under half a million dollars and are also getting more affordable. 26 growing cities where home prices are downSince cities with falling home prices are relatively rare, homebuyers might assume that those markets are getting cheaper because they're becoming less popular. However, there are over two dozen markets where property prices have fallen in recent years despite enjoying an influx of residents, according to Zoocasa's new report. AdvertisementThat leaves 26 markets where home prices are down despite sizable population growth.
Persons: Organizations: Service, homebuyers, Business, National Association of Realtors, Bureau Locations: West, Texas, Arizona
Keenan said he's loved the peace and nature of Costa Rica after spending most of his life in Albuquerque. During his time with the insurance company, he attended a retreat in Playa Zancudo, located in the south of Costa Rica. After these visits, he knew he wanted to retire in Costa Rica to live an "easygoing" life far from the US. AdvertisementCosta Rica is more expensive than he thoughtKeenan said that when he first moved to Costa Rica, prices were cheaper than in the US but not by too much. AdvertisementHe never bought a house, as he said the process can take years in Costa Rica.
Persons: Gary Keenan, Little, Keenan, he's, it's, Costa Rica Keenan, José, hasn't, Kelley Organizations: Service, Business, Google, Costa Locations: New Mexico, Costa Rica, Albuquerque, America, Costa, Playa Zancudo, Playa Grande, Guanacaste, Europe, France, José, San Pedro, capital's, Santa Ana, San José, Costa Rican, Panama, Argentina, expats
Gold prices were poised for a second consecutive weekly gain on Friday, driven by safe-haven demand amid tensions in the Middle East and rising bets that the U.S. Federal Reserve might reduce interest rates later this year. Gold prices were poised for a second consecutive weekly gain on Friday, driven by safe-haven demand amid tensions in the Middle East and rising bets that the U.S. Federal Reserve might reduce interest rates later this year. Spot gold was up 0.1% at $2,360.95 per ounce as of 0344 GMT, after hitting a two-week high in the previous session. Lower interest rates reduce the opportunity cost of holding non-yielding bullion. Spot silver fell 0.4% to $30.60 per ounce, platinum was up 0.4% at $982.45 and palladium gained 0.8% to $930.98.
Persons: Bullion, Kelvin Wong, Wong, Luca Santos Organizations: U.S . Federal, Asia Pacific, Gaza, ACY Locations: Gaza, OANDA, U.S
Learn moreThe Stanley Cup Finals continue tonight with Game 6 of the epic Florida Panther vs. Edmonton Oilers match-up. Below, we've found everything you need to know about how to watch the Stanley Cup Finals, including both cable and live streaming options. When the Panthers skated into Game 4 with a 3-0 lead, many thought that they were about to witness the first Stanley Cup Finals sweep since 1998. How to watch Stanley Cup Finals in the USGame 6 of the Stanley Cup Finals will air on ABC on Friday at 8 p.m. If the Stanley Cup Finals head to Game 7, this will also cover you.
Persons: we've, There's, VPNs, ExpressVPN Organizations: Business, Stanley, Edmonton Oilers, Panthers, Oilers, ABC, ESPN, MLB, NHL, NFL, UFC, Hulu, Disney Plus, Sling, Fubo, Hockey
How Gen-Z buyers are changing the bridal fashion business
  + stars: | 2024-06-21 | by ( Yola Mzizi | ) edition.cnn.com   time to read: +9 min
A bridal look from Collina Strada, presented at New York Fashion Week in September 2022. Aurora Rose/ShutterstockA bridal look from Sandy Liang, presented at New York Fashion Week in February 2023. Avalon/dpa/picture alliance/Sipa USAMillennial and Gen-Z brides-to-be like de Quesada are no longer shopping for just a wedding dress, but an entire wardrobe for pre- and post-wedding events. That breadth is propelling the global bridal wear market, which is projected to grow at a rate of 3.5 percent annually and is expected to reach $83.5 billion by 2030, according to the Global Bridal Wear Market Industry report. Efren Landaos/Sipa USAFor an emerging designer like Wiederhoeft, bridal is something of a safety net, serving as “a floating line of credit” for the rest of their business.
Persons: , Christyne de Quesada, ” de Quesada, , ShuShu Tong, Vera Wang, Gabriella Arango, Gucci, Collina Strada, Aurora Rose, Sandy Liang, de Quesada, it’s, , Caroline Crawford Patterson, Dua Lipa, Simon Porte Jacquemus, Marco Maestri, Arnold Jerocki, Crawford Patterson, Anthropologie, It’s, Jackson Wiederhoeft, Wiederhoeft, “ It’s, Efren, Millennials, Hillary Taymour, Taymour, JP Yim, Andrew Kwon's, Rodin, Andrew Kwon, Kwon, Brigitte Chartrand Organizations: The, Fashion, CNN, New York, Avalon, Cion Investment Corp, Abercrombie, Fitch, Census Bureau, Pew Research Center, Designers, ” Retailers, Ssense Locations: Venice, Italy, Mexico City, Miami, Shanghai, Florida, Dua, Charleval, France, New York, New, New York City, , Ssense
We got it done in 11 weeks, because we work together," Moore said. Last month, the Maryland Transportation Authority issued its first request for proposals to rebuild the bridge. The Maryland Transportation Authority is expected to choose the firms this summer. U.S. Transportation Secretary Pete Buttigieg told CNBC the new bridge will be far better than the old one that opened in 1977. "We know things that we didn't know in the 1970s, about how to put up a bridge," Buttigieg said.
Persons: Baltimore's Francis Scott Key, Wes Moore, " Moore, Moore, Francis Scott Key, Kevin Dietsch, Pete Buttigieg, Buttigieg, Nobody Organizations: Seaboard, Maryland, CNBC, Port, Getty, Maryland Transportation Authority, Maryland Transportation, . Transportation Locations: Port of Baltimore, Patapsco, Baltimore , Maryland, Maryland
The multiplier effect of culture in New York is huge both in economic and human terms. But arts funding does not consistently rise to meet it. From one vantage, the city’s cultural funding can look robust. Over the past decade, the money allocated to the Department of Cultural Affairs has increased considerably, as City Hall officials will point out. And at any rate, between 2023 and 2024, the overall budget decreased by $7 million to $241 million, as the migrant crisis required cuts across municipal divisions.
Persons: Mark Morris’s, Burt Bacharach, Shakespeare, Kathleen Chalfant Organizations: Broadway, Brooklyn Academy of Music, Department of Cultural Affairs, City Locations: New York, America, Forest Hills, Queens
New York CNN —Since February, when Alabama’s Supreme Court declared frozen embryos are legally considered children, fertility clinics around the country have been weighing the implications of a political movement that’s suddenly turned hostile toward IVF. It could also threaten growth in the booming IVF market, which last year brought in an estimated $8 billion in revenue. IVF also took center stage last week at the Southern Baptist Convention, where church leaders effectively condemned the practice. I have never seen any religious or government guardrail ever stop fertility patients. I’m a former fertility patient, and no one was going to tell me no — I was going to do whatever it took to have the family I always dreamed about.
Persons: that’s, Nightcap, Gina Bartasi, It’s, I’m, Kindbody, Gina Bartasi Kindbody, , who’s Organizations: New, New York CNN, Alabama, Southern Baptist Convention, Progyny, Southern Baptists, United, Aetna, Blues, Bloomberg Locations: New York, America, Alabama, Cigna, Manhattan
The multiple exceeds 9 and approaches 12 in the hottest markets, rendering them "impossibly unaffordable," per a recent study. That's according to "The State of the Nation's Housing 2024" report published by Harvard University this week. Only 6.6 million — fewer than 15% — of the 45 million renter households in the US make enough to afford the median payment. Indeed, the Harvard study found that 23% of homeowner households were "stretched worryingly thin," and more than a quarter of renters were paying at least half their incomes toward housing and utilities in 2022. Many homeowners are seeing their incomes squeezed by steeper prices and interest payments, and many renters have given up on buying a home.
Persons: , Robert Gauthier Organizations: Service, Business, Harvard University, Survey, Consumer Finances, Harvard Locations: La Habra , California
Hertz Global — Shares rose more than 10% after the car rental giant upsized a bond offering to $1 billion . Asana — The stock popped 10.5% after the software firm announced a share buyback plan that would cost $150 million. Nvidia — The chipmaker dropped another 1% following a 3.5% decline in the previous session. Gilead Sciences — Shares of the pharmaceutical company popped around 2%, adding to an 8.5% rally from the previous session. Palo Alto Networks — Shares rose 2.4% after D.A.
Persons: Gilead, LendingTree, Davidson, D.A, Boyd Gaming, Boyd, , Alex Harring, Yun Li, Lisa Kailai Han, Hakyung Kim, Michelle Fox Organizations: Therapeutics, U.S . Food, Drug Administration, FDA, Hertz, Nvidia, Gilead Sciences, Bloomberg, Palo Alto, D.A, Penn Entertainment, Boyd, Reuters, Boeing Locations: U.S, Gilead, Palo, cybersecurity, Thursday's
After my kids were born, my love for online grocery ordering grew even more. While I used to use a grocery delivery service nearly every week, I only use it in a pinch now. On top of that, there can be things like pick-up fees, service fees, delivery charges, and tips if you use a grocery delivery service. All of this means that I end up having to go to the grocery store anyway, usually stressed because I was counting on the grocery delivery service to save time. Using a grocery delivery service can save time and energy, but it also comes with added costs and, oftentimes, frustration.
Persons: , Elliott Harrell's, Elliott Harrell, I'm, I've Organizations: Service, Business
Used car retailer CarMax posts 33% drop in first-quarter profit
  + stars: | 2024-06-21 | by ( ) www.cnbc.com   time to read: +2 min
Customers shop for used vehicles at a CarMax dealership in Lexington, Kentucky. Better offers and trade-in deals on new vehicles have also kept potential buyers at bay from considering used vehicles. For the reported quarter, overall revenue came in at $7.11 billion, falling short of analysts' estimates of $7.21 billion. Cox said that retail used-vehicle prices have been consistently lower through the first five months of 2024 compared with a year earlier. CarMax shares shares slipped in and out of positive territory in premarket trading.
Persons: CarMax, Cox Organizations: Better, Cox Automotive Locations: Lexington , Kentucky
Hong Kong has surpassed Tokyo as Asia's most expensive city to build property as rising construction prices add to a worsening labor crunch, a new market survey released by Turner & Townsend showed. The UK-based property consultancy projected that Hong Kong's average construction cost this year will rise 4.8% to $4,500 per square meter, ranking it ninth globally out of 91 cities surveyed. This has been especially true in Hong Kong, with the city's construction industry facing a manpower shortage as the city grapples with an aging population. According to the Hong Kong Construction Industry Council, this skilled labor gap is expected to reach as high as 40,000 people by 2027. Last year, the Hong Kong Census and Statistics Department projected that Hong Kong's aging population would get worse amid low fertility rates last year.
Persons: Townsend, Hong, Sumit Mukherjee Organizations: Turner, New, Hong Kong Construction Industry Council, Hong Kong Census, Statistics Department Locations: Hong Kong, Tokyo, U.S, Switzerland, New York City, San Francisco, Zurich, Asia
Read preview"National Lampoon's Animal House" is one of the greatest comedies ever. Despite the movie's now classic status, studio execs didn't have much faith in "Animal House" at the time. Sutherland wanted more cash upfront rather than a stake in the profitsSimmons said the studio wanted a star but "wouldn't pay for a star." Sutherland once said he'd rather not know how much his "Animal House" blunder actually cost him. 'Animal House' was an animal at the box office.
Persons: , Donald Sutherland, Matty Simmons, Ned Tanen, I'd, Tanen, John Belushi wasn't, John Landis, Sutherland, Landis, Simmons, Sutherland's, he'd, Arnold Jerocki, Dave Jennings, Opie, Anthony, Sutherland smirked Organizations: Service, Business, Universal Studios, Universal Locations: Hollywood
New York CNN —McDonald’s has revealed the details of its highly anticipated $5 value meal, which the fast food chain hopes will rev up sluggish sales and lure back customers who have cut back. Beginning June 25, McDonald’s US locations are selling a “$5 Meal Deal” for a limited time. Word of McDonald’s newest value meal was released last month in the Wall Street Journal, prompting fast food rivals to get a jumpstart on offering similar deals and attract cost-conscious eaters. Burger King, Wendy’s and even Starbucks have rolled out meal deals in recent weeks. The arrival of the McDonald’s meal deal comes at a time when the company is battling the perception that it has become too expensive.
Persons: New York CNN — McDonald’s, , Joe Erlinger, Burger, Erlinger, McDonald’s, , they’re, John Palmaccio Organizations: New, New York CNN, McDonald’s, Street, Mac, , Advertising Fund Locations: New York, Memphis, Columbus , Ohio
New York is launching a program offering homeowners up to $14,000 in total rebates for energy-efficiency upgrades to their property, and more states are expected to follow suit by summer's end. The rebate programs are part of the federal Inflation Reduction Act, the largest piece of climate legislation in U.S. history, which President Joe Biden signed in 2022. The law earmarked $8.8 billion for consumers via two Home Energy Rebates programs. Such projects might include installing air sealing, insulation, electric heat pumps and electric stoves, for example. When combined with a fledgling state program called EmPower+ — which offers up to $10,000 per low-income household — consumers can access up to $24,000 in total rebates for making energy-efficiency upgrades, according to Doreen Harris, president and CEO of the New York State Energy Research and Development Authority.
Persons: Joe Biden, Doreen Harris Organizations: Energy, Finance, SEC, FEMA, New York State Energy Research, Development Authority Locations: York, New York
By providing diagnostics and recalibration of the high-tech systems in modern vehicles, the company hopes to decrease costs associated with EV ownership and repairs. The existing collision repair industry is well-equipped to handle most physical fixes like replacing a bumper, a busted windshield, brakes and paint or adjusting alignment. But for many collision repair centers and auto dealerships, ensuring all sensors, software and computers are working properly can prove time-consuming and expensive. Kinetic puts its robotic systems and technicians to work helping these shops and dealerships fix the finicky, "digital" aspects of customers' cars. Then Kinetic's software, which is connected to the vehicle's systems, will initiate and track the completion of those fixes.
Persons: Power, Nikhil Naikal Organizations: EV Locations: U.S, Santa Ana, California
There's a lot to like about private credit right now, according to UBS. "We still have defaults very low on the private credit side, lower than what we're seeing on public. "With private credit, you don't know how things might change going forward," she explained. While there are some good players in private credit, there are others who are not, he said. Investing in BDCs Another way to get exposure to private credit is by investing in the public stocks of the business development companies, or BDCs, that are doing the private lending.
Persons: Leslie Falconio, Falconio, Jamie Dimon, Dimon Organizations: UBS, Blackstone Private Credit Fund, Franklin BSP Private Credit Fund, SEC Locations: UBS Americas, Franklin, BDCs
She started researching and found numerous articles preaching the advantages of freezing eggs before age 35 for higher viability in the future. For the first time, egg freezing was an option for younger women worried about their reproductive future. But that also comes with a cost — and Carney doesn't plan to do another round. Other studies have found that there isn't much added benefit to freezing eggs earlier than 30. Fertility clinics have an obvious business case for trying to convince as many people as possible that egg freezing is something they should do.
Persons: Brenna Carney, I'd, Carney, , ASRM, it's, Gurtin, there's, she'll, Dr, Geeta Nargund, she's, There's, Emily Tiemann, Alex Stewart, Serena Kerrigan, Lala Kent, PitchBook, Kindbody, Yoojin Jang, who'd Organizations: American Society for Reproductive Medicine, Society for, Reproductive Technology, Institute for Women's Health, University College London, , Apple, Trellis, YouTube, University of California Locations: Texas, New York City, New York, San Francisco
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