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Fed Is in No Rush to Cut Rates as Economy Holds Up
  + stars: | 2024-06-11 | by ( Jeanna Smialek | ) www.nytimes.com   time to read: +1 min
They are not sure how quickly inflation will cool, how much the economy is likely to slow or just how long interest rates need to stay high in order to make sure that quick price increases are fully vanquished. That is the message central bankers are likely to send at their two-day meeting this week, which concludes on Wednesday. Officials are expected to leave interest rates unchanged while avoiding any firm commitment about when they will cut them. Economists think that there is a small chance that officials could even predict just one cut this year. But whatever they forecast, officials are likely to avoid giving a clear signal of when rate reductions will begin.
Organizations: Federal, Fed, Economists
An Austrian Airlines plane flew through a thunderstorm on Sunday. The plane was pelted by hail, shattering its windscreen and tearing off its nose. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAn Austrian Airlines plane traveling from Spain to Austria was left severely damaged after flying through a thunderstorm on Sunday. "Airbus A320 aircraft was damaged by hail on yesterday's flight OS434 from Palma de Mallorca to Vienna," the airline said in a statement to CNN on Monday.
Persons: Organizations: Austrian Airlines, Service, Airbus, Palma de Mallorca, CNN Locations: Vienna, Spain, Austria, Palma
TikTok has briefly suspended the account of Hey Jane, a prominent telemedicine abortion service, four times without explanation. The groups and women’s health advocates say these examples, all from recent months, show why they are increasingly confused and frustrated by how major technology platforms moderate posts about abortion services. They say the companies’ policies on abortion-related content, including advertisements, have long been opaque. And when the platforms do restrict the accounts, the companies can be difficult to contact to learn why. Susan B. Anthony Pro-Life America, an organization dedicated to abolishing abortion, said big technology companies had routinely limited its and other groups’ pro-life speech, suspending accounts and blocking ads with little explanation.
Persons: TikTok, Hey Jane, Instagram, Bing, Susan B, Anthony Pro Organizations: America
If you need to tackle an improbable challenge, the right mindset — "a special kind of optimism" — can help, according to Moderna co-founder and chairman Noubar Afeyan. Specifically, Afeyan — who has an estimated net worth of $1.5 billion, according to Forbes — said that "extraordinary change agents" take three actions to achieve what seems impossible:They imagine. Imagination plays a crucial role "in accomplishing impossible missions," Afeyan said: You typically need to think creatively to come up with new, original ideas. But ask yourself one central question: Why do we expect extraordinary results from reasonable people doing reasonable things?" "You need to leave your comfort zone, to think in new ways, to acclimate to the unfamiliar and embrace uncertainty."
Persons: Noubar Afeyan, he's, Afeyan —, Forbes —, Afeyan, Allison Butler, Butler Organizations: Moderna, Massachusetts Institute of Technology, MIT, Sloan School of Management, Bryant University, CNBC Locations: Lebanon, Canada, Massachusetts, Cambodia, California, Cambridge, acclimate
However, current and former OpenAI employees have been increasingly concerned about access to liquidity, according to interviews and documents shared internally. "We're incredibly sorry that we're only changing this language now," an OpenAI spokesperson told CNBC after the company changed course. In at least two tender offers, the sales limit for former employees was $2 million, compared to $10 million for current employees. In addition to current and former employees, OpenAI has a third tier for share sales that consists of ex-employees who now work at competitors. OpenAI said it's never canceled a current or former employee's vested equity or required a repurchase at $0.
Persons: Sam Altman, Jason Redmond, OpenAI, Slack, Siri, Ilya Sutskever, Jan Leike, Altman's, Sarah Friar, Larry Albukerk, Albukerk, CNBC they've, it's, Doug Brayley Organizations: Microsoft, AFP, Getty, CNBC, Apple, Federal Trade Commission, Justice Department, Nvidia, OpenAI, EB Exchange, Ropes & Gray Locations: Redmond , Washington, OpenAI, California
Read previewTikTok dancer Miranda Derrick said she and her husband, James Derrick, have been sent death threats as a result of Netflix's "Dancing for the Devil: The 7M TikTok Cult." The controversy surrounding Derrick and Shekinah Church was originally brought to public attention when Derrick's sister, Melanie Wilking, made a viral video in 2021 claiming she lost touch with Derrick due to the church. AdvertisementShinn and Shekinah Church were placed under more scrutiny after the docuseries was released on May 29, and it rocketed straight to the top of Netflix's most-watched list. In a video posted to Instagram on Monday, Derrick said that some viewers have started sending her death threats because "Dancing for the Devil" depicted the couple negatively. In the documentary, Derrick's sister and parents claim that she abandoned them because of the church.
Persons: , Miranda Derrick, James Derrick, Robert Shinn, Derrick, Derrick's, Melanie Wilking, Shinn Organizations: Service, 7M Films Inc, Business, Shekinah Locations: Shekinah
The town of Fasano and surrounding countryside, near the luxury resort of Borgo Egnazia, the venue of the G7 summit, on June 4, 2024. A view of Borgo Egnazia, in Puglia, where the G7 summit will be held from June 13 to 15, taken on May 26, 2014 in Savelletri, Brindisi, Italy. The security machine that will protect the world’s leaders of the world’s most advanced economies is well established, and headed by DIGOS. Workers at the attendee accreditation point for the G7 summit in Fasano, Italy, on Wednesday June 5, 2024. Donato Fasano/Getty ImagesSpecialized military police working with the anti-mafia law enforcement unit are keeping a close watch on known criminal groups.
Persons: Rome, Giorgia Meloni, Francesca Volpi, That’s, Vittorio Pisani, DIGOS, Luigi Carnevale, , Borgo, Donato Fasano, Victoria Beckham, Madonna, Ivanka Trump, Aldo Melpignano, Pope Francis, Recep Tayyip Erdogan, Saudi Arabia’s King Salman bin Abdulaziz Al, Saud, Pisani, ” Pisani Organizations: Rome CNN —, Sacra Corona, Cosa Nostra, Camorra, DIGOS, Brindisi –, Bloomberg, CNN, Interior Ministry, Michelin, Workers, Getty, Saudi, US, Locations: Italian, Puglia, Foggia, Cosa, Sicily, Naples, Calabria, Italy, Balkans, Bari, Brindisi, Fasano, Borgo Egnazia, Savelletri, David, Turkish, United States, Germany, Britain, France, Canada, Japan, Schengen, Borgo Egnazi
The US can counter de-dollarization efforts, a think tank expert says. Currency experts have sounded the alarm on what it could mean for the dollar hegemony in global trade and finance. To that end, the US should look to prevent counter-coalitions from forming, and do so by seeking out healthy foreign policy and positive trade partnerships, she said. To prevent the trend from accelerating further, the US should also actively pursue dollar stability through tech-based financial solutions, such as developments in digital payments. The same argument was posed by two other think tank experts on Monday, who warned that internal US dysfunction was the real threat to the dollar.
Persons: , Carla Norrlöf, Norrlöf, it's, dollarization Organizations: Service, greenback, Project Syndicate, Atlantic Council Locations: Russia, China, Washington
Mr. Biden was speaking just hours after his son Hunter Biden was convicted in Delaware of three felony counts of lying on a federal firearms application in 2018. Previously, the president had vowed not to pardon Hunter Biden if he were to be found guilty. He did not address his son’s conviction during his remarks on Tuesday. Mr. Biden has made gun reform a central part of his administration. The passage of the bill ended nearly three decades of gridlock over gun reform in Washington, although it fell short of many of the sweeping measures sought by Democrats.
Persons: Biden, Hunter Biden, Hunter, , Mr, , ” Eileen Sullivan Organizations: White, Republicans Locations: Delaware, Uvalde , Texas, Washington, Wilmington, Del
Last year, my husband was offered a job as a Camp Director at a small children's camp in remote Southwestern Ontario. Instead of worrying about paying for summer activities, our kids will spend leisurely summer days at the camp. Our kids sleep so much better at campOne of the most unexpected bonuses of summer camp life is our sleep habits. I'll gladly jump into the lake on a hot summer day with my girls or play a game of beach volleyball. When I go to bed at night, my pillow smells like a campfire, sunscreen, and sweat — all signs of a perfect day at summer camp.
Persons: , I'm, dealbreaker, doesn't, we'll, I'd, I've, Brianna Bell, Brianna Organizations: Service, Business, The New York Times, Guardian, The Globe & Mail Locations: Southwestern Ontario, Toronto, Lake Huron, Canadian
Salvage crews continue to work on removing debris from the Francis Scott Key Bridge collapse after it was struck by the container ship Dali, now docked at Seagirt Marine Terminal in Baltimore. (Jerry Jackson/Baltimore Sun/Tribune News Service via Getty Images)The main passageway into the Baltimore port was fully restored after the March 26 collapse of the Francis Scott Key Bridge, which left six people dead and obstructed maritime traffic into the harbor. The bridge toppled in late March, after the cargo ship Dali crashed into the infrastructure, choking a major shipping artery into the U.S.' busiest auto port. The Port of Baltimore processed a record 1.1 million containers and $80.8 billion in foreign cargo value last year, according to state data. USACE will maintain this critical waterway as we have for the last 107 years," said Col. Estee Pinchasin, Baltimore District commander, in a statement.
Persons: Francis Scott Key, Jerry Jackson, Dali, We've, Estee Pinchasin Organizations: Baltimore Sun, Tribune, Service, Getty, U.S ., U.S . Army Corps of Engineers, Fort McHenry Federal Channel, Port, USACE, U.S . National Transportation Safety Board Locations: Baltimore, Port, Port of Baltimore, Patapsco, Sri Lanka
"We now know all consciousness is powered by electricity, including dreaming, and it turns out the dreaming brain is as active as the waking brain – sometimes even more so," he said. "In this theory, dreams are like a virtual simulation where we can test different responses and imagine the consequences," he said. Brain functionalityA straightforward theory about why we dream is that dreaming can be good for "keeping the brain tuned and ready even during sleep." In other words, the processes that the brain experiences as you're dreaming may be helpful for brain functionality and keeping your brain sharp. But adrenaline is still present while you're sleeping; think about how your heart can race when you're dreaming about being chased.
Persons: Jandial, Dr, Rahul Jandial, Michael Myers, Isabelle Arnulf, Rosalind Cartwright, , Cartwright, Adrenaline's Organizations: Gallup, CNBC
Extreme heat weather events are expected to affect more than 60 million people across the US this summer. With summer temperatures on the rise, what should people know about the dangerous condition of heat stroke? CNN: What should people know about heat stroke? Dr. Leana Wen: Heat stroke is a medical emergency. Before someone reaches the point of having heat stroke, they may have heat exhaustion.
Persons: CNN — It’s, Leana Wen, Wen Organizations: CNN, US Centers for Disease Control, George Washington University Locations: West
What important lesson can we learn from history to help us in this moment? Seeing that in our past should help us expect that and hopefully brace ourselves against it in our own time. You take things case by case, situation by situation, lie by lie. Do you think the news media — as a whole — is adequately covering Trump? I think Americans broadly know that’s happening, but also that they may not necessarily know what to do about it.
Persons: Rachel Maddow, Mary, ” —, Maddow, Donald Trump’s, Isaac, Davy Aronson, Donald Trump, DOJ hasn’t, Kathryn Olmsted’s, Hitler, Charles Coughlin —, there’s, Robert Paxton’s “, , Il Mondo, Il, Fox, Rupert Murdoch’s, Trump, he’s, He’s, we’ve, Mike Pence, I’m, it’s, Jay Rosen, Organizations: New York CNN, MSNBC, Monday, Electoral College, Republican Party, DOJ, Six, New York Times, TIME, Police, Trump, CNN, Fox News Locations: New York, America, United States, Rome,
“We have the Israelis right where we want them,” Sinwar told Hamas’ political leadership in Qatar recently, according to one of the messages, the WSJ reported Monday. The date of the message isn’t clear but suggests that Sinwar is pressing for the war to continue. “Israel’s journey in Rafah won’t be a walk in the park,” Sinwar allegedly said in a message to the Hamas political leadership. CNN has not seen the leaked messages viewed by the WSJ and is not able to confirm the authenticity of the communications. The landmark vote means the UNSC now joins other major global bodies in backing the plan, increasing international pressure on both Hamas and Israel to end the conflict.
Persons: Yahya Sinwar, ” Sinwar, Sinwar, , Israel, Joe Biden, Antony Blinken, ” Blinken, , Prophet Muhammad, , Biden, Benjamin Netanyahu Organizations: CNN, Palestinian, Wall Street, Sinwar, WSJ, United Nations Security, Monday’s, Russia, UNSC, US Locations: Israel, Gaza, Qatar, Algeria, Rafah, Karbala, Iraq
Eyad Baba | Afp | Getty ImagesThe United Nations Security Council passed a U.S.-drafted cease-fire deal aimed at halting eight months of bloody fighting between Israel and Hamas in Gaza. In March, China and Russia vetoed a Gaza cease-fire resolution, saying it would give Israel a green light to attack the city of Rafah. "Israel has accepted this proposal and the Security Council has an opportunity to speak with one voice and call on Hamas to do the same," he said. Hamas, on the other hand, said in a statement, in part, that it "welcomes what was included in and confirmed by the Security Council resolution regarding a permanent ceasefire in Gaza." Right around the time the Security Council began voting Monday, Secretary of State Antony Blinken landed in Israel to, among other things, meet with retired Gen. Benny Gantz.
Persons: Eyad Baba, Joe Biden, Linda Thomas, Biden, Israel, Nate Evans, Benjamin Netanyahu's, Yahya Sinwar, Antony Blinken, Benny Gantz Organizations: Israeli Special Forces, Hamas, Afp, Getty, United Nations Security, U.S, Security Council, Biden, NBC, Sunday, Security Locations: Gaza, Israel, U.S, France, Britain, China, Russia, Greenfield, Rafah, Qatar, Egypt
Ms. Abu Amr finally arrived home with her son hours later, shocked that she was still alive. To rescue the hostages, Israeli troops entered two residential buildings in which they were being held, according to Rear Adm. Daniel Hagari, the Israeli military spokesman. The medical facility — already packed before the Israeli rescue mission in nearby Nuseirat — overflowed, said Abdelkarim al-Harazin, 28, a physician working there. Gathering her children, she sprinted to the nearby Al-Awda medical center in a desperate search for safety. Gazans there were cursing not just Israel, but Hamas as well, he said, blaming them for bringing this disaster upon them.
Persons: Gazans, Bayan Abu Amr, Mohammad, , Abu Amr, Daniel Hagari, Admiral Hagari, Khalil Daqran, Abdelkarim, Aqsa, Javed Ali, Diana Abu Shaban, Saeed, , Ms, Abu Shaban, Abd Al, Rahman Basem al, Masri, he’d, ” Mr Organizations: Hamas, , Aqsa Martyrs Hospital, International Medical Corps Locations: Nuseirat, Gaza, Al, Aqsa, Deir al, Deir, Israel
Roche Diabetes Care Inc. Accu-Chek brand glucose test strips are arranged for a photograph in the Brooklyn borough of New York, U.S., on Thursday, April 4, 2019. Roche , one of the world's largest biotech companies, said "dangerous counterfeits" of its diabetes medical devices ended up for sale on Amazon to be bought by patients throughout the United States. "Patients know that Roche's Accu-Chek medical devices are safe, sterile and accurate," the complaint said. After the suit was filed, a judge granted Roche's request for a temporary restraining order to stop the defendants from selling the counterfeit products. The complaint was filed on behalf of Roche Diabetes Care Inc., Roche Diabetes Care GmbH and Hoffmann-La Roche Inc, by attorneys with the New York-based law firm Patterson Belknap Webb & Tyler.
Persons: Roche, Patterson Belknap Webb, Tyler, Dileep Kumar Yadav, Abhishek Jain, Ratnakar Sharma, Atikur Rahman Organizations: Roche Diabetes Care Inc, Amazon, CNBC, Roche Diabetes Care GmbH, Hoffmann, Roche Inc, New, JMD Enterprises, JMD, JMD International Locations: Brooklyn, New York, U.S, United States, India, New York City
If you ask a graduating M.B.A. student, a prep school guidance counselor or the internet how to be hired at the global consulting firm McKinsey, you’re likely to find a list of prestigious “target schools” where it has consistently aimed its recruiting efforts. You know the ones — Harvard, Yale, Stanford. But these days, McKinsey would prefer a different answer. “Exceptional can come from anywhere,” its career website says. “Elite” has never sat well with many American institutions, but the word has taken a particular beating in recent years.
Persons: you’re, , Katy George, Mckinsey’s, Fortune, Donald J, Trump, Organizations: McKinsey, Harvard, Yale, Stanford, , Ivy League Graduates
Seoul, South Korea CNN —A Dutch warship was harassed by Chinese military aircraft in the East China Sea on Friday, the Netherlands said, becoming the latest country to accuse Beijing’s forces of initiating potentially unsafe encounters in international waters. PSMX partner nations include Australia, Canada, France, Germany, Japan, New Zealand, South Korea, the United Kingdom and the United States, according to the US State Department. This handout picture shows the Dutch frigate Tromp approached in the East China Sea by a Chinese fighter jet. “As a warning, the Chinese military took necessary measures at the scene. Hours later, a Chinese military spokesman accused the United States of “creating division and provoking confrontation” in the region.
Persons: South Korea CNN —, Beijing’s, HNLMS Tromp, , , Tromp, China’s People’s, Richard Marles, Lin Jian, Maj, Rob Millen, Lloyd Austin, Washington, Austin, Jing Jianfeng Organizations: South Korea CNN, Dutch Defense Ministry, CNN, United Nations, Pacific Security Maritime Exchange, European Union, UN Security Council, US State Department, Netherlands Ministry of Defence, South Korean Navy, China’s People’s Liberation Army, South China, Australian Defense, Foreign, Canadian, Royal Canadian Navy, Royal Canadian Air Force, US, NATO, Joint Staff Department, Military Commission Locations: Seoul, South Korea, East, Netherlands, North Korea, Australia, Canada, France, Germany, Japan, New Zealand, United Kingdom, United States, Chinese, East China, Busan, South, Hobart, China, South China, Ottawa, Pacific, Singapore, Asia, Ukraine
French election shock hits stocks and the euro
  + stars: | 2024-06-10 | by ( Anna Cooban | ) edition.cnn.com   time to read: +4 min
London CNN —The decision by French President Emmanuel Macron to call a snap election after losing to the far right in a vote for European lawmakers roiled markets and the euro Monday. The first round of the French election is scheduled for June 30, followed by the second round on July 7. Under the French system, parliamentary elections are held to elect the 577 members of the lower house, the National Assembly. Higher yields indicate that investors want a bigger premium to buy French bonds given the political uncertainty. “A right-wing majority in the (French parliament) would hamper any reform plans.
Persons: Emmanuel Macron, Macron, Générale, , , Mike O’Sullivan, whittle, Andrew Kenningham, ” Mohit Kumar Organizations: London CNN, BNP, Credit Agricole, National, National Assembly, CNN, Capital Economics, Jefferies Locations: Paris, Europe, , France
Trump to meet with Republican senators
  + stars: | 2024-06-10 | by ( Olympia Sonnier | Frank Thorp V | ) www.cnbc.com   time to read: +1 min
Former U.S. President Donald Trump speaks at a dinner at Mar-a-Lago on June 5, 2024 in West Palm Beach, Florida. (Photo by Eva Marie Uzcategui/Getty Images)Former President Donald Trump will meet with a group of Republican senators in Washington, D.C., this week, four sources with knowledge of the meeting told NBC News. Trump will meet with the senators on Thursday after addressing the Business Roundtable, a lobbying group. Sen. John Barrasso, R-Wyo., told fellow GOP senators in an e-mail obtained by NBC News that he invited Trump to meet with Republican senators. "I believe it will be helpful to hear directly from President Trump about his plans for the summer and to also share our ideas for a strategic governing agenda in 2025," wrote Barrasso, who is the No.
Persons: Donald Trump, Eva Marie Uzcategui, Sen, John Barrasso, Trump Organizations: U.S, Mar, Washington , D.C, NBC News, Trump, Business, Republican, Social Security, America Locations: Lago, West Palm Beach , Florida, New York, Washington ,
CNN —Four instructors from Cornell College in Mount Vernon, Iowa, were injured in a “serious incident” while visiting a park in China on Monday, according to a statement from the school. The instructors were in China teaching as part of a partnership with a local university and had been accompanied to the public park by a faculty member of that partner institution, Cornell College President Jonathan Brand said in a statement to the college community. Brand did not name the partner institution in his statement, but school spokesperson Jen Visser confirmed the incident happened in Jilin City. The campus of Cornell College in Mount Vernon, Iowa Courtesy Cornell CollegeNo students were participating in the program, according to the school. Iowa Rep. Ashley Hinson, who represents the district where the college is located, said in a post on X that the four college employees “were brutally stabbed.”“My team has been in communication with Cornell College and will do everything in our power to bring these Iowans home safely,” Hinson said.
Persons: Jonathan Brand, ” Brand, Brand, Jen Visser, Ashley Hinson, , ” “, ” Hinson, Kim Reynolds, Organizations: CNN, Cornell College, Cornell, Iowa, US State Department, Iowa Gov Locations: Mount Vernon , Iowa, China, Jilin City
CNN —There could be a combined Covid-19 and flu shot in our future, although it won’t be ready for this year’s flu season. On Monday, vaccine maker Moderna announced positive late-stage trial results for its Covid/flu combination vaccine it calls mRNA-1083. Other companies have been testing a combined Covid-flu vaccine, but Moderna is the first to announce positive late-stage trial results. The trial studied the vaccine in two different age groups with about 4,000 adults in each age category. Few people got the latest Covid shot, studies show.
Persons: , Francesca Ceddia, ” Ceddia, Covid, Spikevax, Moderna, Sue Peschin, Dr, Sanjay Gupta, Peschin, ” Peschin, Organizations: CNN, Moderna, Public, US Centers for Disease Control, Food, Covid, FDA, Alliance for Aging Research, CNN Health, CDC Locations: United States
CNN —Former President Donald Trump completed his pre-sentencing interview with the New York City Department of Probation on Monday after his hush money trial conviction last month, a source familiar with the proceedings told CNN. “Earlier today, President Trump completed a routine interview with [the] New York Probation Office. Trump answered all questions in the virtual interview and was described as polite, respectful and accommodating to the probation officers, according to a New York City official familiar with the interview. The probation department did not rule out the possibility of a follow-up meeting, the source added. In a pre-sentencing interview, a defendant is typically asked about their conviction and other basic background information such as their employment and criminal history.
Persons: Donald Trump, Trump, Hunt, , Juanita Holmes, Todd Blanche, Juan Merchan, CNN’s Kaitlan Collins, Alayna Treene, Lauren del Valle Organizations: CNN, New York City Department, New, New York Probation, New York City, New York City Department of, Trump, Manhattan Locations: New York, Manhattan, New
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