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download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThere are two major similarities between today's stock market environment and the dot-com bubble era, says RIA Advisors CIO Lance Roberts. RIA Advisors/AccentureAnd two, there is a small group of firms leading the overall stock market rally, just as it was in 2000. He's a bit more optimistic this time around because of the robust earnings performance fueling the few stocks leading the market. Advertisement"We are again experiencing another of these speculative 'booms,' as anything related to artificial intelligence grips investors' imaginations," Roberts said.
Persons: , Lance Roberts, Roberts, Jonathan Golub Organizations: Service, RIA, Business, Accenture, Nvidia, UBS, Investors, Federal Reserve
What's next: Media Matters filed a motion to dismiss Musk's lawsuit in March, but a judge has yet to rule. VCG/GettyGovernment lawsuits and investigationsSEC investigation into Musk's Twitter takeoverThe issues: The Securities and Exchange Commission is investigating Elon Musk's Twitter purchase. Matt Winkelmeyer/Getty ImagesPersonal lawsuits against MuskTornetta v. MuskThe issues: Tesla shareholder Richard Tornetta sued Musk and Tesla in a class action lawsuit regarding Musk's compensation package, which was worth $55.8 billion at the time. Several lawsuits also allege Musk discriminated against them because of their race, gender, or disability in choosing to fire them. The executives were set to receive golden parachutes, but claim Musk and X have not paid them out.
Persons: , Elon Musk, Musk, Claire Boucher, Grimes, Alex Spiro, Sam Altman, Donald Trump, Spiro, Anna Webber, Angelo Carusone, What's, Gina Carano, Schaerr Jaffe, Tesla, Musk's, Elon, SEC hasn't, Elon Musk's, who've, Owen Diaz, Matt Winkelmeyer, Richard Tornetta, Kimbal Musk, He's, Boucher, Benjamin Brody, Brody, Brody reverberated, Ben Brody, didn't, Robert Kaiden, Kaiden, he's, Agrawal, Parag Agrawal, Ned Segal, Twitter Vijaya Gadde, Sean Edgett, Segal, hadn't Organizations: Service, SpaceX, Business, OpenAI, SEC, Trump, Trump —, Elon, Variety, Media, X Corp, Disney, National Labor Relations Board, UAW, Tesla, Getty Government, Twitter, Securities, Exchange Commission, Justice Department, Reuters, Traffic, Administration, NHTSA, Apple, NLRB, Musk's SpaceX, US, Employment Opportunity, Musk, Nazi, Litigation Locations: Texas, Texas and Missouri, America, Nazi Germany, California, Delaware, San Francisco
Iran’s election for its next president will take place a year early, on June 28, after President Ebrahim Raisi died in a helicopter crash last month. The vote will usher the Islamic republic into new leadership amid domestic discontent, voter apathy and regional turmoil. While the country’s supreme leader, Ali Khamenei, has the final say on all state matters, the Iranian president sets domestic policy and has some influence over foreign policy.
Persons: Ebrahim Raisi, Ali Khamenei
Experts say the AI mania has shades of the dot-com and housing bubbles and could end painfully. AdvertisementExperts say the frenzy around AI stocks resembles the last two major market bubbles — and could end in disaster if investors get spooked. "This is the goofiest and likely most dangerous concentration of overvaluation I've seen in 34 years investing and throughout financial history," Bloomstran said. Some experts have compared Nvidia to Cisco, the network hardware company whose stock ballooned during the dot-com bubble before ultimately crashing. No one can predict if the AI craze will end with a devastating crash like the dot-com and housing bubbles, or usher in a new market regime led by Nvidia and its kin.
Persons: , Nathan Burks, Adetokunbo Fadahunsi, Ann Marie Hibbert, Burks, Hibbert, Chris Bloomstran, Semper Augustus, I've, Bloomstran, John Chambers, Robert Galbraith, it's Organizations: Service, George Mason University, Big Tech, Nvidia, Microsoft, Cisco, REUTERS, Wall Street Journal Locations: West Virginia
CNN —Toyota is recalling 145,000 Lexus TX and Toyota Grand Highlander SUVs because of an issue that could cause one of the side curtain airbags to fail to deploy in some situations. The curtain airbag on the driver’s side may not deploy properly “during certain crashes” if the driver’s side window is rolled down, according to a statement shared by Toyota Thursday. Toyota did not provide details on the type of situation in which the problem might occur. Both the Lexus TX and Toyota Grand Highlander are new models that went on sale last year. If customers have questions, they can contact Toyota customer service at 800-331-4331 or Lexus customer service at 800-255-3987.
Organizations: CNN, Toyota, Lexus, Toyota Thursday Locations: Princeton , Indiana
Crew members haven’t been able to get off the ship for a variety of reasons. Bennett’s email identifies the eight eligible crew members, which include a cook, a fitter and an oiler. As part of the deal, those crew members will not need to stay in Baltimore. But with the new agreement Wednesday night, the eight crew members would be able to leave the country before they’re deposed. But it’s still unclear exactly when the eight crew members – and the rest of their colleagues – will be able to leave.
Persons: Dali, Francis Scott Key, haven’t, , ” Adam Levitt, Levitt, William Bennett, Grace Ocean, DALI, , ” Bennett, James Bredar, ” Levitt, Jerry Jackson, Jason Foster, Foster, they’re, Darrell Wilson, ” Wilson, Bro Chen Chuanyi, Gwee Guo Duan, it’s, , CNN’s Mary Kay Mallonee, Jeff Winter Organizations: CNN, City, Court, Synergy Marine, Synergy, U.S . Coast Guard, DOJ, Coast Guard, Department of Justice, , Baltimore Sun, TNS, Getty, Federal, Singapore Organisation of Seamen, Singapore Maritime Officers ’ Union Locations: Baltimore, City of Baltimore, Lankan, United States, London, of Baltimore, Dali, Singapore
CNN —The PGA Tour announced on Tuesday it had created a special exemption for Tiger Woods alone, allowing for qualification to certain events on its schedule. The 15-time major champion is tied for the most ever PGA Tour victories with Sam Snead. The eight ‘Signature Events’ on the PGA Tour are the marquee tournaments on the tour’s schedule, boasting increased prize money and more FedExCup points up for grabs. The 48-year-old has played in only four tournaments this year: The Genesis Invitational and the three majors. The other change which the PGA Tour announced on Tuesday was that all ‘Signature Events’ would have a minimum field of 72 players.
Persons: Tiger Woods, ’ Woods, Sam Snead, Woods, Arnold Palmer Organizations: CNN, PGA, Tiger, PGA Tour’s, Enterprises Boards, Arnold Palmer Invitational, RBC Heritage, Wells, Travelers, Masters Locations: Hartford , Connecticut, Wells Fargo
A Lancet study forecasts that by 2100, over 97% of countries will have fertility rates below the population replacement level. AdvertisementThe Japanese government has also tried to boost fertility rates by offering up to a year of parental leave and even cash incentives. In South Korea, the least fertile country in the world, Seoul is offering people money to reverse their vasectomies or untie their tubes. However, according to Trent MacNamara, a Texas A&M professor whose work has focused on fertility rates, throwing money at the problem can only do so much. Harper said that instead of throwing money at the issue, the biggest chance for success is through promoting gender equity.
Persons: , isn't, Trent MacNamara, MacNamara, Sarah Harper, Harper, Philip N, Cohen, it's Organizations: Service, Business, gerontology, Oxford Institute of Population Ageing, University of Maryland Locations: Tokyo, South Korea, Seoul, Texas
New York CNN —Families that lost loved ones in two Boeing 737 Max crashes said on Wednesday that the company committed the “deadliest corporate crime in US history” and asked the Justice Department to fine the company the maximum $24 billion it could face in a criminal trial. The families wrote to the Department of Justice asking for the fine as the US government considers criminal prosecution of Boeing. The letter also asks the Justice Department for an independent corporate monitor to oversee Boeing’s safety measures and to direct it in its efforts to improve its quality. The 2021 deferred prosecution agreement that Boeing reached with the Justice Department was harshly criticized by the family members and some members of Congress at that time. Boeing agreed to pay $2.5 billion, but most of that money - $1.77 billion – was paid to the airlines that owned the grounded planes, money that Boeing had already agreed to pay.
Persons: Max, Dennis Muilenburg, , Paul Cassell, , Dave Calhoun, – CNN’s Evan Perez Organizations: New, New York CNN, Boeing, Justice Department, Department of Justice, The Justice Department, Department, Alaska Airlines, DOJ, Republican, Democratic, FAA Locations: New York, Indonesia, Ethiopia, Alaska
CNN —A nine-year-old motorcycle rider from Argentina has died after crashing during a practice session at the Interlagos Circuit in São Paulo, Brazil. Lorenzo Somaschini was participating in the first free practice session of the Jr Cup on Friday when he had a fall and was immediately treated by medics at the scene, race organizer SuperBike Brasil said in a statement. “The whole SuperBike Brasil team is saddened by the event and expresses its sincere condolences to all of Lorenzo’s family and friends,” said SuperBike Brasil. Somaschini, known as “Lolo,” rode under the number 99 as a tribute to his idol, Spain’s three-time MotoGP champion Jorge Lorenzo. “My heart breaks because also I was his idol and he wore my number,” Lorenzo wrote on Instagram Stories.
Persons: Lorenzo Somaschini, Albert, , Somaschini, Diego Pierluigi, , Lolo, Pierluigi, Jorge Lorenzo, ” Lorenzo, ‘ Lolo, Organizations: CNN, Interlagos, Brasil, Geral de, Albert Einstein, Reuters Locations: Argentina, São Paulo, Brazil, Geral de Pedreira, Pinheirinho
CNN —At least two major airlines have warned pilots that if a bird hits one of the engines on a Boeing 737 Max, the passenger cabin could become filled with smoke. Documents newly obtained by CNN detail that Boeing warned Southwest Airlines and American Airlines of the potential problem in February and both airlines in turn sent alerts to their respective pilot groups. “Boeing has received two reports of CFM LEAP-1B engine failures following large bird strikes on takeoff and initial climb,” said the alert to American Airlines pilots. Southwest’s alert says such a strike could cause oil to burn and the “immediate presence of smoke and fumes” entering the passenger cabin “through the air conditioning system.”The issue was not made widely public until being first reported by The Seattle Times but is significant as it could signal another potential issue with 737 Max aircraft which have been dogged by manufacturing and design issues. Engine maker CFM International says their engine has met “bird ingestion certification requirements, and the engines performed as designed during these events.”The company underscored that birds in the two incidents that prompted pilot bulletins were much larger than required for certification testing and that the CFM engine still performed as designed.
Persons: , , Dave Calhoun, Max Organizations: CNN, Boeing, Max, Southwest Airlines, American Airlines of, CFM, American Airlines, The Seattle Times, CFM International, Federal Aviation Administration, ” Boeing, CFM “, FAA, Capitol Locations:
Read previewWhat's the most sought-after job opportunity for graduating students of top business schools like Harvard Business School, Wharton at UPenn, and Stanford's Graduate School of Business? For the 2024 CIT program, which starts this summer, Alpine received 750 applications for just 12 slots, giving it an acceptance rate of 1.6%. Related stories"You're moving from Yale Law School and Harvard Business School to Jackson, Mississippi, to run a plumbing company," Anderman said as an example. Wurtzbacher also got invaluable leadership training from Weaver, a longtime professor at Stanford's Business School and winner of the MBA Distinguished Teaching Award in 2024. The CIT program is so attractive to them because it offers a clear path to doing this by leading a company.
Persons: , Wharton, David Wurtzbacher, Wurtzbacher, Tal Lee Anderman, Graham Weaver, Weaver, JP, Graham, Anderman, they're, they've Organizations: Service, Harvard Business School, Stanford's Graduate School of Business, McKinsey, Business, Investors, Harvard, Stanford Business School, Green, Partners, CIT, Alpine's CIT, Wharton, Alpine, BI, Yale Law School, Alpine's San, Stanford's Business School, Stanford Locations: UPenn, San Francisco, Stanford, Manhattan, America, Jackson , Mississippi, Alpine's, Alpine's San Francisco, York, Carolinas, Virginia
Read previewWhat's the most sought-after job opportunity for graduating students of top business schools like Harvard Business School, Wharton at UPenn, and Stanford's Graduate School of Business? For the 2024 CIT program, which starts this summer, Alpine received 750 applications for just 12 slots, giving it an acceptance rate of 1.6%. Related stories"You're moving from Yale Law School and Harvard Business School to Jackson, Mississippi, to run a plumbing company," Anderman said as an example. Wurtzbacher also got invaluable leadership training from Weaver, a longtime professor at Stanford's Business School and winner of the MBA Distinguished Teaching Award in 2024. The CIT program is so attractive to them because it offers a clear path to doing this by leading a company.
Persons: , Wharton, David Wurtzbacher, Wurtzbacher, Tal Lee Anderman, Graham Weaver, Weaver, JP, Graham, Anderman, they're, they've Organizations: Service, Harvard Business School, Stanford's Graduate School of Business, McKinsey, Business, Investors, Harvard, Stanford Business School, Green, Partners, CIT, Alpine's CIT, Wharton, Alpine, BI, Yale Law School, Alpine's San, Stanford's Business School, Stanford Locations: UPenn, San Francisco, Stanford, Manhattan, America, Jackson , Mississippi, Alpine's, Alpine's San Francisco, York, Carolinas, Virginia
Dave Calhoun, CEO of Boeing, leaves a meeting with Sen. Dan Sullivan, R-Alaska, in Hart Building, on Wednesday, January 24, 2024. Calhoun was meeting with senators about recent safety issues including the grounding of the 737 MAX 9 planes. Boeing CEO Dave Calhoun will testify before a Senate panel on Tuesday about the company's safety and manufacturing crises after a door panel blew out of a nearly new 737 Max 9 jet in January. Last month Boeing pointed to a host of other changes to encourage workers to speak up about problems in its factories after several whistleblowers raised concerns about quality issues and retaliation. Spirit AeroSystems , a major supplier for both Boeing and Airbus, said last week that titanium entered the supply chain with falsified documents.
Persons: Dave Calhoun, Sen, Dan Sullivan, Calhoun, We've, Max, Richard Blumenthal, Conn, Mike Whitaker, Whitaker, AeroSystems Organizations: Boeing, Investigations, Justice Department, Alaska Airlines, Federal Aviation Administration, FAA, Southwest Airlines, United Airlines, Airbus Locations: Alaska, Hart, U.S
Boeing CEO Dave Calhoun apologizes to families of crash victims
  + stars: | 2024-06-18 | 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 EmailBoeing CEO Dave Calhoun apologizes to families of crash victimsCNBC's Phil LeBeau joins 'Power Lunch' to discuss Boeing CEO apology to the families of the victims from the Boeing plane crashes.
Persons: Dave Calhoun, Phil LeBeau Organizations: Boeing
Lekander predicted the EV maker's stock would plunge to $15 a share, implying a 91% decline. Tesla stock represents one of the greatest bubbles in history, he said. Earnings are falling off a cliff," he added, estimating Tesla's earnings could fall as much as 50% this year. Lekander, who has been shorting Tesla stock since 2020, echoed other Tesla bears, who have criticized the stock's lofty valuation and predicted a coming correction. AdvertisementIf the company reports losses for two quarters in a row, the stock could easily see losses in the double-digits, Lekander predicted.
Persons: Lekander, , Tesla Organizations: EV, Service, Energy, Yahoo Finance
“Five passengers have died and 25-30 injured in the accident,” Darjeeling police superintendent Abhishek Roy told reporters from the crash site. People gather around the wreckage of a train after a collision in West Bengal, India on June 17, 2024. But decaying infrastructure is often cited as a cause for traffic delays and numerous train accidents. More than 16,000 people were killed in nearly 18,000 railway accidents across the country in 2021, according to the National Crime Records Bureau. Most railway accidents were due to falls from trains and collisions between trains and people on the track.
Persons: Mamata Banerjee, Abhishek Roy, ” Roy, Banerjee, , Narendra Modi Organizations: CNN, West Bengal, Mamata Banerjee . Disaster, Kanchenjunga Express, India, National Crime Records Locations: India, Kolkata, Silchar, Assam, Siliguri, Darjeeling, New Jalpaiguri, West Bengal, Odisha
Iranian Leader Press Office | Anadolu | Getty ImagesIran is holding snap elections on June 28 following the sudden death of former Iranian President Ibrahim Raisi in a helicopter crash. The election will take place against the backdrop of a battered Iranian economy, widespread popular discontent and crackdowns on dissent. He described Iran's supreme leader Ayatollah Khamenei⁠ as the country's "only 'voter' of significance." Iran's Presidency | WANA | Via ReutersBut with Sunday's announcement of the approved candidates, "those hopes were largely dashed," he said. It comes after turnout for Iran's parliamentary election in March was also the lowest for a legislative contest in the Islamic Republic's history at 41%.
Persons: Ali Khamenei, Ebrahim Raisi, Hossein Amir, Ibrahim Raisi, crackdowns, Behnam ben Taleblu, Ayatollah Khamenei⁠, ben Taleblu, Nader Itayim, it's, Raisi, Khamenei, Mahsa Amini, Sanam Vakil, Itayim, ATTA KENARE Organizations: Iran's, Tehran University, Iranian, Press, Anadolu, Getty, U.S, Guardian Council, Council, Foundation for Defense of Democracies, CNBC, Western, Argus Media, Reuters, Union for Secular Republic, Human Rights, Chatham House, Islamic Locations: Tehran, Iran, Israel, Mideast, Iran's, Islamic Republic, Kurdish Iranian, East, North Africa
A freight train collided with a passenger train in eastern India on Monday, killing at least eight people and injuring 50 others, officials said. Four coaches of the popular and often-crowded passenger train derailed when it was rammed from behind by the commercial train. Images from the accident site showed one of the passenger coaches lifted off the railway track and balancing on a coach of the freight train. The driver and the assistant driver of the freight train and a guard on the passenger train were among those killed. Jaya Varma Sinha, the chairperson of India’s railway board, said rescue operations were completed.
Persons: Jaya Varma Sinha, Ashwini Locations: India, West Bengal, Tripura, Local, India’s
Here's what five forecasters have to say about the latest rally — and why they think the stock market is headed for a fall. In 2009, he wrote a book predicting a stock market crash and ensuing economic depression, which he said could last for 10 years or more. The research firm is predicting the S&P 500 could see a steep correction following a rally to 6,500. Yet, that could end up being an excellent opportunity for investors who are diversified in other areas of the market, Bernstein said. AdvertisementTypically, there are eight warning signs of a market bubble forming, and six of them have already flashed, the bank said.
Persons: Stocks, , haven't, Harry Dent Stocks, Harry Dent, Dent, John Higgins, Higgins, John Hussman, Hussman, Richard Bernstein, Bernstein Organizations: Service, Nasdaq, Apple, Nvidia, Fox Business Network, Stocks, Capital Economics, John Hussman Elite, UBS
The Airbus A320 airliner that ditched in the Hudson River in 2009 is now an aviation artifact. None of the 155 passengers and crew died during the "Miracle on the Hudson" crash. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOn January 15, 2009, a fully loaded US Airways Airbus A320 plane ditched into the Hudson River after a bird strike caused both engines to fail. The accident has since been described as the "Miracle on the Hudson" because none of the 155 passengers and crew onboard died.
Persons: , Captain Chesley, Sully, Sullenberger, Jeffrey Skiles Organizations: Airbus, Sullenberger Aviation Museum, Service, US, Business Locations: Hudson
Back in February, used electric vehicle prices dipped below used gasoline-powered vehicle prices for the first time ever, and the pricing cliff keeps getting steeper as car buyers reject any "premium" tag formerly associated with EVs. In June 2023, average used EV prices were over 25% higher than used gas car prices, but by May, used EVs were on average 8% lower than the average price for a used gasoline-powered car in U.S. Over the past year, gasoline-powered used vehicle prices have declined between 3-7%, while electric vehicle prices have decreased 30-39%. There are many more vehicles in the used market than new car market, and used vehicle value does rapidly depreciate as a rule. As more EVs enter the used market at lower prices, the EV market does become available to a wider market of potential first-time EV owners.
Persons: Karl Brauer Organizations: iSeeCars, Tesla, BMW Locations: U.S
The crash site was never found, but over the years she held out hope it would be uncovered, steadily accumulating newspaper clippings and documents related to the case. There was no mayday or communication from the jet, Kozak says. Courtesy Garry KozakKozak first learned of the plane crash from a friend in the 1980s. Now that the crash site was found, the National Transportation Safety Board will make its evaluation to confirm it’s the right aircraft. While the crash site may have been found, it’s important to the passengers’ children the next generation also knows about their fathers.
Persons: Kristina Nikita Coffey, Barbara Nikitas, searcher, George Nikita, Garry, ” Nikitas, Nikita Coffey, , , “ I’ve, Garry Kozak, Kozak, Donald Myers, Robert R, Williams, Frank B, Wilder, Kirby Windsor ., Garry Kozak Kozak, ” Kozak, I’ve, Frank K, ” Wilder, Nikitas, Charles C, Robert Williams, III, ” Williams, That’s, “ It’s, it’s, ” Nikita Coffey, Peter C, Knudson Organizations: CNN, National Transportation, Federal Aviation Administration, NTSB Locations: Lake Champlain, Vermont, Burlington , Vermont, Providence , Rhode Island, Juniper, Burlington
A sign is displayed outside a Toyota Motor Corp. dealership on Jan. 30, 2024 in Tokyo, Japan. Toyota Chairman Akio Toyoda apologized Monday for massive cheating on certification tests for seven vehicle models as the automaker suspended production of three of them. Toyota took the crown with 10.7% market share, while Germany's Volkswagen came in second with a 6% market share. But for Toyota, the top automaker by market share in the world, the latest safety scandal is not the first time it's being investigated for false test data. In April last year, Daihatsu said it had rigged side-collision safety tests carried out for 88,000 small cars, most of those sold as Toyotas.
Persons: Akio Toyoda, Tomohiro Ohsumi, Germany's Volkswagen, that's, Toyota —, Suzuki, Toyoda, Hino Organizations: Toyota Motor Corp, Toyota, Getty, Germany's, Honda, country's Ministry of Land, Transport, Mazda, Suzuki Motor, Yamaha Motor, Corolla Fielder, Corolla, Daihatsu, Citi Locations: Tokyo, Japan, Infrastructure, Tourism
Senator John Fetterman, Democrat of Pennsylvania, was at fault in a car accident in Maryland on Sunday and has a record of distracted driving and infractions, according to police records and former aides. A witness to the crash said Mr. Fetterman passed her on Eisenhower Memorial Highway in western Maryland, driving well over the posted speed limit of 70 miles per hour, according to the police report. Mr. Fetterman’s vehicle then rear-ended another, the report said. The senator and his wife, Gisele Barreto Fetterman, as well as the other driver, a 62-year-old woman driving a Chevrolet Impala, were taken to the hospital. Images of what appeared to be Mr. Fetterman’s totaled SUV were obtained by WPXI.
Persons: John Fetterman, Fetterman, Gisele Barreto Fetterman, WPXI Organizations: Chevrolet Impala, Maryland police, USA Locations: Pennsylvania, Maryland
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