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CNN —A federal appeals court in Washington, DC, on Wednesday allowed a prediction market to offer election betting, denying a government watchdog’s request to halt a ruling that made way for legal political gambling in the United States. It is unclear whether the New York-based startup will launch more election markets. “US presidential election markets are legal. Because the sources of information that election markets absorb can be “opaque and unreliable,” like polls with undisclosed methodologies or fake news reports, Schwartz suggested that they can be uniquely susceptible to manipulation. While the legal dispute with Kalshi plays out, the CFTC has also embarked on a broader clampdown on events-based betting.
Persons: ” “, Patricia Millett, , ” Kalshi, Jia Cobb, Tarek Mansour, X, Stephen Hall, ‘ deepfakes, Kalshi, , Rob Schwartz, Schwartz, Yaakov Roth, ” Roth, Rostin Behnam Organizations: CNN, Senate, Futures Trading Commission, DC, Appeals, US, DC Circuit, Kalshi, CFTC, Better Locations: Washington ,, United States, New York, Washington,
The Gap comeback that might actually be working
  + stars: | 2024-10-02 | by ( Cathleen Chen | ) edition.cnn.com   time to read: +21 min
Designer Zac Posen — now creative director at Gap Inc., at the Vanity Fair Oscar party in March 2024. Danny Moloshok/ReutersSince 2014, the Gap brand has nearly halved its presence in North America, going from 968 stores in the market to 472 as of February. It makes up about 20% of overall Gap Inc. revenue, while Old Navy accounts for more than half. Before Gap, Posen was on track for a similar trajectory to Mizrahi’s. They started by redefining the positioning of each brand: Gap as a pop culture brand.
Persons: CNN — Zac Posen, Richard Dickson, Posen, Donald, Doris Fisher, Mickey Drexler, Drexler, Uniqlo, Zac Posen —, Danny Moloshok, Sonia Syngal, Dickson, Barbie, Troye Sivan, Da’vine Joy, Anne Hathaway, ” Posen, won’t, Zac, Isaac Mizrahi, , Gabriella Santaniello, Mizrahi, Zac Born, Saint Ann’s, Lola Schnabel, Julian Schnabel, Lena Dunham, Nicole Miller, Naomi Campbell, Grimm, , Da'Vine Joy Randolph —, Jamie McCarthy, Yucaipa, Ron Burkle, Sean Combs, Zac Posen, Neiman Marcus —, Zac Posen — that’s, Zac Posen’s, it’s, Paco Rabanne, Patrick Robinson, Ye, Julie Gilhart, Gilhart, ” Dickson, Bernadette Peters, , Harrison Ball, Ryan Murphy, ’ ”, TJ Maxx, Kennedy, Anne Hathway, Pietro S, Robert, William Fisher, didn’t, Mark Breitbard, Horacio Barbeito, Chris Blakeslee, Goodman, Stephanie Keith, Da’Vine Joy Randolph’s, Sivan, Hathaway, Julia Fox, influencer, Lee Peterson, hasn’t Organizations: The, Fashion, CNN, Old Navy, Inc, New Yorker, Gap Inc, Navy, Banana, Reuters, Mattel, Hollywood, Xcel Brands, QVC, Saint, Metropolitan Museum of Art, Central Saint Martins, New York Times, Centric Brands, Barneys, New York City Ballet, Swans, Disney, rockstar, Old, America ., Collins Group, Vogue, Bloomberg, Council of Fashion Designers of America, New York, Dôen Locations: Posen, San Francisco Bay, New, Banana Republic, Athleta, San Francisco, Oxford, Zara, North America, Asia, China, Republic, New York City, American, London, Bloomsbury, Balthazar, SoHo, Rome, Italy, New York, America, America . Banana
Investors are flocking to OpenAI, but it's losing high-level executives at an alarming rate. Suddenly, it's open season for OpenAI employees. Rivals like Anthropic and Perplexity are signaling to workers that they put mission over profits. Suddenly, it's starting to feel like open season for OpenAI employees. A recruiter said his search firm has fielded more interest from current OpenAI employees since the board's ouster of Sam Altman a year ago.
Persons: , Mira Murati, Ilya Sutskever, Andrej Karpathy, John Schulman, Greg Brockman, Alex Klein, he's, Dan Miller, Tim Tully, Sam Altman, Jason Redmond, weren't, Klein, OpenAI, Jack Guez, Anthropic, Jan Leike, Schulman, Durk Kingma, Kingma, Matt Murphy, Arvind Jain, Jain, Matt Hoffman, Johnny Ho, Ho Organizations: Rivals, Service, OpenAI, LinkedIn, Menlo Ventures, Ark Venture Fund, Business, Getty, Google, Anthropic, Employees, Engineers Locations: OpenAI, AFP, Bay
I'm taking a more hands-off approach and letting him learn to manage his own schooling. AdvertisementIn Florida, where we live, third grade is the first school year students are issued grades in their four core subjects. I'm a teacher myself, and the possibility of my son failing an entire grade felt like a failure on my part. I'm simply asking my son why he's getting these grades and what he might do to raise them. While getting good grades is a reward for working hard, getting poor grades should also serve as a reflection opportunity on what you could have done differently.
Persons: , he's, I'm, it'll, It's Organizations: Service Locations: Florida, I'm
Amazon's RTO order has people questioning the future of remote work. Employees respondong to his surveys ranked the right to work from home equal to an 8% pay increase. AdvertisementThe pandemic-prompted right to remote work may be in trouble — Amazon hit headlines last month when it ordered all corporate employees back to the office five days a week from January. But Nick Bloom, a leading expert in remote work, said working from home was "here to stay" as he shared the latest developments in his 20-year research. Bloom concluded his presentation by saying remote work was "here to stay," citing big steps in technology that facilitate it, such as video calls and virtual reality.
Persons: Nick Bloom, , Amazon's, Bloom Organizations: Service, Stanford University Locations: WFH, COVID
The stock market typically cools off in October following a really strong third quarter, but any weakness could prove to be a potential buying opportunity for year-end, according to Piper Sandler. On Tuesday, the first day of the month , the Dow Jones Industrial Average and the S & P 500 fell, while the Nasdaq Composite dropped more than 1%. Those losses come after the S & P 500 advanced 5.5% in the three months ended September. Since 1928, following the 34 instances when third-quarter returns were greater than 5%, the S & P 500 then slid 1% on average in October, the technician said. .SPX 1M mountain S & P 500 Many investors agree that the bias into year-end is to the upside, after some near-term seasonal weakness.
Persons: Piper Sandler, Stocks, Hurricane Helene spooked, Craig W, Johnson, Tom Lee, we've, Lee Organizations: Dow Jones Industrial, Nasdaq, Fundstrat Global Advisors Locations: U.S, Hurricane
He directs customers to find seats in Sabar Menanti, his two-story Malay restaurant, while ducking behind the counter to serve the restaurant's signature nasi padang. His grandparents opened Sabar Menanti in the 1920s and started selling nasi padang near a tombstone shop. But as his relatives had a handle on the business, Tambunan went on to work in the shipping industry. Dealing with rising costsAt a nasi padang stall, diners can choose from a variety of sides to eat with their rice. Tambunan told me he wanted her to remain active in her old age and encouraged her to return to help.
Persons: Iszahar Tambunan, Menanti, nasi, Tambunan, , Sabar Menanti, Sabar, Erin Liam, Tambunan's, I've, Maryulis Bagindor Marlian, Nasi, Beef, Azreen Aziz, Aziz, tauhu telor, masak, I'm, Anthony Bourdain, Erin Liam I, Menanti Tambunan, he's Organizations: Service, Urban Redevelopment Authority, Singapore Statistics Board Locations: shipbroking, Singapore, nasi padang, Sabar, padang, Malay, Kampong Glam, Bahasa Indonesia, Sultan Mosque, Nasi padang, Indonesian, rendang, achar
It's no secret the labor market is pretty brutal for a lot of job-seekers today, and the contentious election cycle could be making it worse. Online, candidates say they're sending out applications en masse without much luck. Meanwhile, businesses are slowing their hiring initiatives as they brace for uncertainty around the results of the November presidential elections, according to hiring experts. Businesses may be even more cautious than ever given "the change of of primary candidates at the 11th hour" that could be "making companies more hesitant to know what's coming ahead of time." This could disproportionately impact hiring at companies that do business internationally, Boggs says, as well as the search for senior leadership candidates.
Persons: Kamala Harris, Donald Trump, Debra Boggs, who's, Boggs Organizations: Labor Department, U.S, Management
For many with allergies, fall is peak season that’s now probably compounded by a warming planet. Allergy season is starting earlier and lasting longer, which scientists attribute to a variety of causes, including the climate crisis. With respiratory viruses also prevalent in colder weather, how can people distinguish between seasonal allergies and a virus? Common symptoms of fall allergies can include a runny or stuffy nose as well as sniffling, sneezing, watery eyes and coughing. Ragweed season typically begins in August and peaks in September but can last into November.
Persons: that’s, Leana Wen, Wen, Jeff Pachoud Organizations: CNN, US Centers for Disease Control, George Washington University, Getty Locations: United States, AFP
US Navy destroyers fired interceptors to defend Israel from Iran's ballistic missile attack Tuesday. A new video shows one of the destroyers — USS Bulkeley — launching its interceptors. AdvertisementNew video footage shared by the US Navy shows an American destroyer firing interceptors to engage the Iranian ballistic missiles launched at Israel on Tuesday. The ships involved in Tuesday's engagement were USS Cole and USS Bulkeley. AdvertisementThe guided-missile destroyer USS Bulkeley, which played a role in shooting down Iranian missiles that were fired at Israel on Tuesday.
Persons: Bulkeley, , Bill Urban, Cole, USS Bulkeley, Urban, Hassan Nasrallah, Ismail Haniyeh, Daniel Hagari, Jake Sullivan, Pat Ryder, Zac Shea, Kamala Harris, Israel — Organizations: Navy, Service, US Navy, Israel, US Naval Forces, Combat, Business, . White, National, Pentagon, American Locations: US Naval Forces Europe, Africa, Israel, Iran, Tehran, Iranian
CNN —High-scoring matches, unwanted records and an unlikely winning run – Tuesday’s UEFA Champions League round seemed to have it all. Manchester City equals ‘unbeaten’ recordManchester City has set a number of records while commanding the English Premier League in recent seasons, but it appears its dominance also stretches to the Champions League. The Scottish side was unbeaten this season heading into the game, having also won its first Champions League match 5-1 last month. While City and Dortmund won easily on Tuesday, Barcelona also thrashed Young Boys 5-0 and Internazionale beat Red Star Belgrade 4-0. The French side continued its perfect start to the new Champions League season with a 4-0 win against Red Bull Salzburg on Tuesday.
Persons: CNN —, , Pep, , ” Guardiola, Opta, Karim Adeyemi, Ina Fassbender, Emre, Daizen Maeda, Karim Adeyemi’s, Serhou, Guirassy, Felix Nmecha, Brendan Rodgers, it’s, Kerstin Joensson, Abdallah Sima, Mahdi Camara, Mathias Pereira Lage, Bayer Organizations: CNN, UEFA, League, CNN Sport, Manchester City, English Premier League, Champions League, Slovan Bratislava, Opta, Manchester United, City, Sparta Prague, Real Madrid, Borussia Dortmund, Celtic, Scottish, Getty, Dortmund, , Young Boys, Internazionale, Red Star Belgrade, Red Bull Salzburg, Brest, Ligue, Austrian, Sturm Graz, Salzburg, UCL, Bayer Leverkusen –, AC Milan Locations: Europe, City, Dortmund, AFP, Barcelona, Brest
Tesla posts first sales gain of the year
  + stars: | 2024-10-02 | by ( Chris Isidore | ) edition.cnn.com   time to read: +2 min
New York CNN —Tesla reported an increase in sales for the first time this year, although its year-to-date sales still trail the same period of 2023. But GM still had only a fraction of Tesla’s sales, with US EV sales coming in at 32,000 vehicles. Tesla doesn’t break out sales by market so it’s precise US sales are not known. During this latest quarter, Tesla stayed ahead of Chinese automaker BYD, which briefly passed Tesla in worldwide EV sales last year. BYD reported global third quarter battery electric sales of 313,000, and year-to-date sales of 1.2 million EVs.
Persons: New York CNN — Tesla, Tesla, BYD Organizations: New, New York CNN, General Motors, GM, US, , BYD, Tesla Locations: New York, Europe
CNN —The NASA team overseeing the iconic Voyager 2 spacecraft made the decision to power down one of its science instruments in an effort to conserve energy. Despite the aging probe’s emptying power stores, NASA expects that Voyager 2 will keep operating with at least one science instrument into the 2030s. Voyager 2 has three radioisotope thermoelectric generators that power the spacecraft by converting heat emitted by the decaying plutonium into electricity. But turning off a piece of equipment on Voyager 2 or Voyager 1 — an identical spacecraft launched 16 days after its twin — is not ideal, NASA noted. After reaching beyond the heliosphere, or interstellar space, Voyager 2 has “collected limited data in recent years due to its orientation relative to the direction that plasma is flowing,” NASA said.
Persons: Organizations: CNN, NASA, ., Space,
Australian mining tycoon Andrew Forrest, founder and executive chairman of Fortescue, says it is time for the world to walk away from the "proven fantasy" of net zero emissions by 2050 and to embrace "real zero" by 2040 instead. Someone with a bit of ticker because the technology is there," he continued. "We know the world can go real zero 2040 and I'm reaching out to the business people and politicians across our planet to say it is time now to walk away from this proven fantasy [of] net zero 2050 and adopt real zero 2040," Forrest said. Net zero refers to the goal of achieving a state of balance between the carbon emitted into the atmosphere and the carbon removed from it. More than 140 countries, including major polluters such as the U.S., India and the European Union, have adopted plans to reach net zero.
Persons: Andrew Forrest, Fortescue, Forrest Organizations: I'm, European Union Locations: U.S, India
Levi Strauss CEO Michelle Gass told CNBC's Jim Cramer on Wednesday how the denim retailer will benefit from its partnership with Beyoncé, saying the ads could help boost sales of women's clothing. "Now you bring Beyoncé into the ecosystem, you know, we think we're just set up for the long term really, really well." The collaboration comes after Beyoncé released her newest album, "Cowboy Carter," in the spring that featured a track called "LEVII'S JEANS." She claimed wholesale, a large part of Levi's business in Mexico, was down because one of the company's "key customers" had a cybersecurity breach that impacted shipping. Gass also said that the Dockers brand has "underperformed for some time," and Levi's intends to sell the business.
Persons: Levi Strauss, Michelle Gass, CNBC's Jim Cramer, Beyoncé, Levi's, " Gass, Cowboy Carter, Gass Organizations: Destiny's, Dockers Locations: China, Mexico
Diamond Sports — the owner of Bally Sports-branded regional sports networks — said Wednesday that it plans to drop all MLB teams from its channels except for the Atlanta Braves. A Diamond attorney made the comments before a U.S. bankruptcy judge on Wednesday as part of an update on the company's ongoing bankruptcy process and attempt at finalizing a reorganization plan. Some of those teams were already slated to see their contracts end this season, and some contracts are not being determined by the bankruptcy process, a Diamond spokesperson said. "To be clear, rejecting these teams is not our preferred path," Diamond attorney Andrew Goldman said on Wednesday. Goldman said Diamond had warned the league about this outcome in August, noting it was a possibility if the MLB rejected Diamond's latest proposal.
Persons: , Diamond, Andrew Goldman, MLB's, James Bromley, Goldman, Diamond's Organizations: Bally, Atlanta Braves, Minnesota Twins, Major League Baseball, Sports, Bally Sports, MLB, U.S, Cincinnati Reds, Cleveland Guardians, Detroit Tigers, Kansas City Royals, Los Angeles Angels, Miami Marlins, Milwaukee Brewers, Louis Cardinals, Tampa Bay Rays, Texas Rangers, Diamond, Wednesday Locations: Atlanta , Georgia
Analyst Sara Senatore said the recent arrival of CEO Brian Niccol is a potential catalyst for Starbucks stock. She expects the former Chipotle chief to turn around Starbucks' North American business more quickly and with less investment than expected. SBUX YTD mountain Starbucks stock. Walmart stock has advanced more than 54% in 2024. WMT YTD mountain Walmart stock.
Persons: Anthony Cassamassino, Sara Senatore, Brian Niccol, Robert Ohmes, Ohmes Organizations: Bank of America, Dow Jones, Walmart, Bank of America's, Hasbro Locations: Iran, Israel
October is already living up to its volatile reputation
  + stars: | 2024-10-02 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
The S & P 500 fell nearly 1% to kick off the new month of trading. The Nasdaq Composite shed more than 1.5%, and the Dow Jones Industrial Average lost 0.4%, or 173 points. The Cboe Volatility Index , Wall Street's preferred fear gauge, swelled abpve 20 — its highest level since Sept. 11. I am bracing for added volatility and the market to over-trade daily headlines and themes," he said in a note to clients Wednesday. CNBC Pro found that the S & P 500 averages a daily move of 1.3% in either direction in October, based on FactSet data going back to 1950.
Persons: Street's, Scott Rubner, Goldman Sachs, Baird, Harley, Davidson Organizations: Nasdaq, Dow Jones Industrial, West Texas, CNBC Pro Locations: Iran, Israel, Lebanon, Milwaukee
The kids can come and go between the houses, but my parents need to ask to come into ours. Well, not with my parents — but with my husband and young kids in a home that backs up to my parents', in Presidio Heights in San Francisco. I don't know anyone in San Francisco who has a living situation like ours, but it works for our family. This is particularly important to my husband and me as his parents are deceased and will never know our kids. One rule is while the kids can come and go from either house as they please, my parents must ask to come into our home.
Persons: , Gigi, It's, I've, it's, barbequing Organizations: Service Locations: San Francisco, Presidio Heights, LA
It’s the second time Iran has launched an aerial attack on Israel this year, but Tuesday’s barrage was of a different magnitude. Israel's anti-missile system intercepts rockets after Iran fired a salvo of ballistic missiles, as seen from Ashkelon, Israel, on October 1, 2024. While the Israeli military said most of the missiles were intercepted, some landed on Israeli soil and appeared to cause damage. Atta Kenare/AFP/Getty ImagesIn Gaza, Israel’s war against Hamas grinds on almost a year after the Palestinian militant group’s attack on Israel. Since Israel’s war in Gaza began, US troops have also been the target of escalating attacks by Iran-backed proxy groups.
Persons: Benjamin Netanyahu, Israel, Hassan Nasrallah, Israel –, Amir Cohen, Pat Ryder, , Nasrallah, Jonathan Panikoff, Hezbollah's, Atta Kenare, Ismail Haniyeh, PMO, Netanyahu, Naftali Bennett, Masoud Pezeshkian, Alexi J . Rosenfeld, Matthew Miller, Lloyd Austin Organizations: CNN, Israel, Reuters, Air Base, Tel Nof Air Base, Pentagon, Hezbollah, Getty, Hamas grinds, Islamic Revolutionary Guard Corps, Israeli, New, State Department, US Navy, US Army, US, Israel . Defense Locations: Israel, Iran, Lebanon, Beirut, Here’s, Syria, Ashkelon, Reuters Iran, Tehran, Tel Aviv, Israel’s, Washington, Yemen, Tehran's Palestine, AFP, Gaza, Iranian, Iraq, East, New York City, Eshkol Region, Jordan
A Trump win would benefit energy and financial stocks the most, RBC analysts say. The analysts see a Trump win as overall bullish for equities, with a Harris win more bearish. AdvertisementA Donald Trump win in November could be the best outcome for stocks, and two sectors in particular would benefit the most, according to RBC Capital Markets. Those sectors would see the most upside from a Trump win, especially if Republicans take both the White House and Congress, the analysts say. EnergyThe analysts say Trump's policies favor domestic fossil fuel production, since they aim to reduce regulatory requirements, which would lower costs.
Persons: Harris, , Donald Trump, Donald Trump's, Financials, Kamala Harris, Trump, fracking, Janet Yellen Organizations: Trump, RBC, Service, RBC Capital Markets, White House, Congress, Energy, Republican, Democratic, Biden
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIran missile attack gives Israel the grounds it needs to respond big, says Dan SenorDan Senor, former foreign policy advisor in the Bush administration, 'The Genius of Israel’ co-author and ‘Call Me Back’ podcast host, joins 'Squawk Box' to discuss the fallout from Iran's ballistic missile attack on Israel, what to expect from Israel in response to the attack, and more.
Persons: Dan Senor Dan Senor, Bush, Israel ’ Organizations: Iran Locations: Israel
CNN —A painting discovered by a junk dealer in the basement of an Italian villa six decades ago is actually the work of Pablo Picasso and could sell for millions, according to experts. At just 24, Lo Rosso didn’t appreciate that the signature in the upper left corner of the artwork that read simply “Picasso” meant anything, his son Andrea Lo Rosso told CNN on Tuesday. The older Lo Rosso, who died in 2021, stuck it in a cheap frame and gave it to his wife — much to her chagrin, his son said. Finally, last month Cinzia Altieri, a graphologist for a patrimony court in Milan, was able to certify the Picasso signature as authentic. “I’m happy but let’s wait to toast, there is still one step to take before we consider this incredible story over,” Andrea Lo Rosso said.
Persons: Pablo Picasso, Luigi Lo Rosso, Lo Russo, Andrea LoRosso, Dora Maar, Luca Gentile, Lo Rosso, Andrea Lo Rosso, , wasn’t, ” Andrea Lo Rosso, Picasso, Picasso’s, Maar ”, Altieri, , Marcante, CNN he’s, , ” CNN’s Organizations: CNN, Arcadia Foundation, Picasso Foundation Locations: Pompeii, Italy, Capri, Swiss, Golfe, Juan, France, Spanish, Milan, Paris
Finance creator Vivian Tu's podcast has a new home at Vox Media and wellness brand PS. Vox Media and Tu share why the partnership made sense and what helped seal the deal. Now, 30-year-old Tu is partnering with Vox Media and the newly rebranded wellness brand PS, formerly known as PopSugar, to launch a second season of the podcast. Vox Media was one of many suitors vying for the chance to collaborate with Tu, but they won because of an aligned vision and handing over creative control. AdvertisementAccording to Xu, Vox Media and Tu will work very closely together on the podcast's sales, marketing, and distribution, such as posting teasers of new episodes across Your Rich BFF and PS' social media accounts.
Persons: Vivian Tu's, , Vivian Tu, Morgan, Tu, Ryan Serhant, Cassey Ho, Ankur Jain, I'm, Alix Earle, Jake Shane, It's, Gen Zers, millennials, they're, Vivian, there's, Lillian Xu, Vox, Xu, Rich BFF, you've Organizations: Vox Media, Service, YouTube, Business, Spotify
Tim Walz took the stage in their first and only debate on Tuesday. Tim Walz in the pair's only debate of their vice presidential campaigns. AdvertisementAccording to polling, Vance has become one of the least-liked vice presidential candidates in history. The vice presidential debate is likely the last major debate of the campaign, as the presidential nominees haven't agreed to a second appearance after their September 10 face-off. "Vance's casual use of 'Tim' when addressing Walz subtly diminished Walz's authority, creating an impression of informality that worked in Vance's favor," Bui said.
Persons: Sen, JD Vance, Tim Walz, Vance, , Ohio, Walz, Benjamin Radd, backtrack, Trumper, Radd, Crystal Bui, George Floyd's, Bui, Harris, Kamala Harris, Joe Biden's, haven't, Tim, Susan McWilliams Barndt, McWilliams Barndt, I'm Organizations: Gov, Service, Minnesota Gov, UCLA, UCLA Burkle Center for International Relations, Democratic, Spotlight Communications, Trump, Pomona College, Business Locations: Minnesota, Vance's
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