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[1/3] Outgoing Mexico City Mayor Claudia Sheinbaum, one of the leading candidates for the presidential nomination of the ruling MORENA party, gestures during a press conference in Mexico City, Mexico June 12, 2023. REUTERS/Raquel CunhaMEXICO CITY, June 12 (Reuters) - Mexico City Mayor Claudia Sheinbaum said she will step down on Friday to pursue the ruling party's candidacy for the 2024 presidential election, bidding to become the country's first female leader. President Andres Manuel Lopez Obrador's leftist National Regeneration Movement (MORENA) on Sunday agreed that on Sept. 6 it would announce the winner of its internal selection process. MORENA is heavily favored to win the June 2024 presidential election, lifted by Lopez Obrador's personal popularity. Reporting by Dave Graham in Mexico City; Writing by Sarah Morland and Brendan O'Boyle; Editing by Matthew Lewis and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.
Persons: Mexico City Mayor Claudia Sheinbaum, Raquel Cunha MEXICO, Andres Manuel Lopez Obrador's, MORENA, Lopez, Lopez Obrador, Sheinbaum, Marcelo Ebrard, Ebrard, Adan Augusto Lopez, Dave Graham, Sarah Morland, Brendan O'Boyle, Matthew Lewis, Leslie Adler Organizations: Mexico City Mayor, REUTERS, Raquel Cunha MEXICO CITY, Regeneration, Sunday, Reuters, Interior, Thomson Locations: Mexico, Mexico City, China, United States
The merger between Credit Suisse and UBS creates a new Swiss banking behemoth with $1.7 trillion in assets. Investment bank leadersThe president of UBS's investment bank, Robert Karofsky, circulated a memo on Monday announcing his new leadership team. Ebert, co-head of markets at Credit Suisse, was also named head of Credit Suisse for the Investment Bank, reporting to Karofsky. UBS global wealth management president Iqbal Khan revealed the appointments to its critical wealth business in an internal memo titled "Becoming a global wealth powerhouse." Members of the current Credit Suisse wealth management leadership team will report to both Yves-Alain and to their respective UBS global wealth management regional leader.
Persons: Yves, Alain Sommerhalder, Michael Ebert, Robert Karofsky, Ebert, Karofsky, Marco Valla, Valla, Javier Oficialdegui, Mike, I've, George Athanasopoulos, Jason Barron, Ros L'Esperance, Dan Dowd, Taichi Takahashi, Chris Leone, Julie Beavan, Tricia Hazelwood, Jeff Hinton, Kurt Anthony, Laurence Braham, Richard Hardegree, Richard Casavechia, Ozzie Ramos, Jason Williams, Neil Meyer, Ken Tittle, Iqbal Khan, Francesco De Ferrari, Khan, Reuters Yves, Alain, Wiwi Gutmannsbauer, Benjamin Cavalli, Cavalli, Kinner, Amy Lo, Jin Yee Young, Young, Hatecke, UBS's Anton Simonet, Christl, Jason Chandler, Sergio Ermotti, Ralph Hamers, Ermotti, MICHELE LIMINA, Todd Tuckner, Sarah Youngwood, Michelle Bereaux, Stefan Seiler, Christian Bluhm, Damian Vogel, Ulrich Körner Organizations: UBS, Credit Suisse, Suisse, Credit, Wall Street, Investment, Investment Bank, Barclays, Global Banking, Investment Bank Management, Global Markets, Global Research, IB, Resource Management, Staff, MUFG Securities, Reuters, Yves, Deutsche, Switzerland, Swiss Re, Getty Locations: Switzerland's, Swiss, Americas, Asia, Singapore, Switzerland, Europe, Middle East, Africa, America, AFP
It would also foreshadow a disturbing trend that has only worsened in subsequent years: 11 o’clock on Sunday morning is now one of the most dangerous hours of the week in America, pastors and church security officials say. Brady Boyd, senior pastor of New Life Church, the same church where Assam confronted a gunman 16 years ago. And in 2018, a gunman killed 11 worshippers at the Tree of Life synagogue in Pittsburgh. But his church security does not have a monopoly on Sunday morning firepower. Consider this sobering Sunday morning scenario:A spiritual seeker visits a church and finds it filled with metal detectors and armed security guards carrying walkie-talkies.
Persons: Jeanne Assam, He’s, Beretta, Jake Stephens, Brian Snyder, , Brady Boyd, Boyd, “ That’s, Scott Olson, Rabbi Hillel Norry, Beth David, Norry, , Kwon, Jeff Swensen, ” Norry, that’s, Shaukat Warraich, Dwayne Harris, Harris, Hope, ” Harris, Darren Hauck, Tim Russell, ‘ I’m, David Swanson, Pastors, Jesus ’, ” Boyd, Jesus, Tommy Mason, Mason, Joe Biden, Jill Biden, Saint Joseph, Beau Biden, Brendan Smialowski, Jerilee Bennett, George W . Bush, “ You’re Organizations: CNN, New, Church, Emanuel African Methodist Episcopal Church, Reuters Churches, New Life, White, Texas Church of Christ, Baptist, Security, Police, House Church, Geneva Presbyterian, Colorado Springs, Marion County Baptist Association, Service, Brandywine Catholic, “ Police, AP, Minneapolis Police Department Locations: Colorado, Assam, Colorado Springs, America, Charleston , South Carolina, Sutherland Springs , Texas, Texas, Orange County , California, Oak Creek , Wisconsin, Pittsburgh, Georgia, Pittsburgh , Pennsylvania, That’s, New Zealand, Missouri, , Geneva, Laguna Woods , California, Marion, Alabama, Saint, Brandywine, Brandywine Catholic Church, Wilmington , Delaware, AFP, AP Assam
Restaurants grapple with a surge in beef prices
  + stars: | 2023-06-09 | by ( Kate Rogers | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRestaurants grapple with a surge in beef pricesCNBC's Kate Rogers joins 'Power Lunch' to discuss surging beef prices, food inflation's impact on menu prices, and the forces driving the protein price hikes.
Persons: Kate Rogers
WASHINGTON, June 9 (Reuters) - The United States and five of its allies on Friday condemned the use of trade practices that amount to economic coercion in a joint declaration that did not single out other countries but appeared to be aimed at China. Australia, Britain, Canada, Japan, and New Zealand jointly released the statement with the United States, emphasizing that "trade-related economic coercion and non-market-oriented policies and practices" threatened the multi-lateral trading system and "harms relations between countries." The United States, Britain, Japan and Canada are also members of the G7. In May, Beijing protested the G7's declarations, including on economic coercion, saying the U.S. was "pushing hard to weave an anti-China net in the Western world." "We are also seriously concerned about the use of forced labour, including state-sponsored forced labour, in global supply chains.
Persons: Jeff Mason, Dan Whitcomb, Sonali Paul Organizations: New, Seven, Washington, U.S . Trade, Thomson Locations: United States, China, Australia, Britain, Canada, Japan, New Zealand, Beijing, Lithuania, Taiwan, U.S
Soaring beef prices are hurting restaurant's bottom line
  + stars: | 2023-06-09 | 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 EmailSoaring beef prices are hurting restaurant's bottom linePeter Galbo, research analyst at Bank of America, Tim Seymour, Seymour Asset Management CIO, and Laura Rea Dickey, CEO of Dickey's Barbecue, join 'Power Lunch' to discuss the impact of food inflation on restaurants, passing along rising prices to the consumer, and the expected timeline for soaring beef prices.
Persons: Peter Galbo, Tim Seymour, Laura Rea Dickey Organizations: Bank of America, Seymour, Management
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Laura Rea Dickey, Peter Galbo and Tim SeymourPeter Galbo, research analyst at Bank of America, Tim Seymour, Seymour Asset Management CIO, and Laura Rea Dickey, CEO of Dickey's Barbecue, join 'Power Lunch' to discuss the impact of food inflation on restaurants, passing along rising prices to the consumer, and the expected timeline for soaring beef prices.
Persons: Laura Rea Dickey, Peter Galbo, Tim Seymour Peter Galbo, Tim Seymour Organizations: Bank of America, Seymour, Management
BEIJING, June 9 (Reuters) - BYD announced on Friday a new brand of electric vehicles (EV) ranging from off-road to sports cars as the company looks to meet more diversified consumer demand. The new brand is called Fang Cheng Bao, which translates from Chinese literally as "Formula" and "Leopard". The Chinese EV giant is expected to launch the first model this year - an SUV identified for now internally as SF, BYD said in a statement. It sold 996,476 cars in the first five months, nearly double the number of a year earlier. ($1=7.12 yuan)Reporting by Zhang Yan, Brenda Goh and Beijing newsroom; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.
Persons: BYD, Fang Cheng Bao, Zhang Yan, Brenda Goh, Tom Hogue Organizations: Volkswagen, Tesla, Thomson Locations: BEIJING, China, Beijing
GameStop plunged 22% on Thursday after the video game retailer fired its CEO and reported a quarterly revenue decline. The company said its largest investor, Ryan Cohen, would be named executive chairman. In addition to the firing, the company said Ryan Cohen would be named executive chairman of the company. Shortly after Wednesday's announcement that Cohen had been named executive chairman of GameStop, Cohen tweeted: "Not for long." In addition to the executive shakeup, GameStop announced its fiscal first-quarter revenue of $1.237 billion, which represented a year-over-year decline of 10%.
Persons: Ryan Cohen, , Matthew Furlong, Cohen, Michael Pachter, Furlong, Pachter Organizations: GameStop, Amazon, Service
With Brazil struggling in its efforts to create a regulated carbon market, the country’s new president is moving to scrap his predecessor’s approach and start anew. Financing carbon-capture projects such as reforestation could also generate carbon credits. For example, a local regulated carbon market could help exporters avoid the carbon border adjustment mechanism the EU plans to charge on some imported products from 2026. Exporters also hope a regulated market would help repair Brazil’s abysmal environmental reputation, a product of its history of deforestation. The da Silva administration plans to have a carbon market operating in a couple of years, Toni said.
Persons: Luiz Inácio Lula da Silva, Jair Bolsonaro, , Gustavo Pinheiro, Luiz Gustavo Bezerra, Mayer Brown, Pelerson Penido Dalla Vecchia, Antônio Queiroz, Bezerra, Ana Toni, Silva, Toni, da Silva, Marina Silva, Annie Groth, , Paulo Trevisani Organizations: Brazil, Climate, Society, Union, Vale, Agence France, group’s, International Chamber of Commerce, EU, Sustainable Business, National Secretariat, Street, Brazil’s Ministry of Development, Industry, Trade, Services, Environmental Ministry, United Nations Locations: Brazil, Paris, Braskem, Brazilian, Pennsylvania, Peru, Dubai
Russia's McDonald's replacement, Vkusno & tochka, opened a year ago. The chain can't sell iconic McDonald's items like the Big Mac and has created substitutes instead. Its CEO told Reuters that it has sold more than 24 million "Big Hits," its Big Mac dupe, since opening. Paroev previously said that Vkusno & yochka sold 120,000 burgers on its opening day, which he said was higher than any other day in McDonald's Russia's history. Have you been to Vkusno & tochka?
Persons: Russia's, , Alexander Govor, tochka, hasn't, Oleg Paroev, Paroev, yochka, Tian Bing, tochka hadn't, tochka's, Ronald McDonald Organizations: Reuters, Service, Mac, China News Service, Getty Locations: Ukraine, Russian, Russia, Moscow
Taco Bell will sell a vegan version of its popular Crunchwrap, made with plant-based beef and cheese, in three U.S. cities for a limited time, it said Wednesday. Starting Thursday, customers in Los Angeles, New York and Orlando will be able to order the Vegan Crunchwrap. Vegetarians were also among the fans who successfully pushed Taco Bell to bring back its cult-favorite Mexican Pizza. Taco Bell used pea protein and soy to make the vegan beef in the new Crunchwrap. For the vegan blanco sauce and vegan nacho sauce, Taco Bell used soy as the main base.
Persons: Taco Bell, Carne, Liz Matthews, blanco, Taco Organizations: Bell, Yum Brands, Taco Bell, CNBC, Foods Locations: U.S, Los Angeles , New York, Orlando, Ohio, Birmingham , Alabama
The Chris Christie beef with the Kushner family runs deep. Chris Christie and the Kushner family was once again center stage on Tuesday in what is shaping up to be a pretty petty presidential primary season. "Jared Kushner and Ivanka Kushner walk out of the White House and months later get $2 billion from the Saudis. But his beef with the Kushner family goes back much further than this campaign cycle. Jared Kushner went on to work for four years at the White House as a senior adviser to his father-in-law.
Persons: Chris Christie, Kushner, Christie, Jared Kushner, Alex Thompson, , Donald Trump —, Trump, Joe Biden, Trump —, Trump's, Ivanka Trump, Ivanka Kushner, Saudi Crown Prince Mohammed bin Salman, Jared, Jared's, Charles Kushner, savaging Sen, Marco Rubio, Mike Pence, PBS's Margaret Hoover, Mr, Charles Kushner's, Margaret —, Biden Organizations: Service, New, New Jersey Gov, Trump, White, Saudi Crown, Public Investment Fund, Kushner's Affinity Partners, New York Times, Federal, Commission, GOP Locations: New Hampshire, New Jersey, United States
New York CNN —The past few months of robust grocery store sales would suggest that shoppers aren’t stretched for cash. Fresh eggs shot up 48.2%, milk rose 5%, bread rose 12.7% and fresh root vegetables went up 14.7. The following month, grocery prices continued to fall. But food inflation is still outpacing inflation overall, and grocery prices are still quite a bit higher than they were last year. We are still seeing prices, month over month, they’re still going up — although much less than they were.”— CNN’s Nathaniel Meyersohn contributed to this report.
Persons: that’s, , Alastair Steel, Spencer Platt, they’ve, Steel, “ we’ve, Richard Galanti, Jeff Gennette, , Brandon Bell, Jeff Owen, Ramon Laguarta, it’s, they’re, , Nathaniel Meyersohn Organizations: New, New York CNN, Kellogg, PepsiCo, Getty, Steel, Costco, Aldi, , Dollar, Assistance, SNAP, Consumers, Bureau of Labor Statistics, BLS Locations: New York
Watch CNBC's full interview with Landry's CEO Tilman Fertitta
  + stars: | 2023-06-06 | 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 EmailWatch CNBC's full interview with Landry's CEO Tilman FertittaTilman Fertitta, Landry's chairman and CEO, joins 'Last Call' to discuss the rising price of beef in the U.S., the state of the entertainment industry, the LIV golf partnership with PGA and more.
Persons: Tilman Fertitta Tilman Fertitta, LIV Organizations: PGA Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere will be a huge drop in spending once student loan payments resume, says Landry's CEO FertittaTilman Fertitta, Landry's chairman and CEO, joins 'Last Call' to discuss the rising price of beef in the U.S., the state of the entertainment industry and more.
Persons: Fertitta Tilman Fertitta Locations: U.S
Malonga visited 48 of the 54 African countries in a bid to better understand the diverse traditions, dishes and ingredients. Combining his Euro-centric training with his experiences of African cuisine, Malonga developed his signature style. Nigerian restaurant Ikoyi became the first Michelin-star West African restaurant in the UK in 2018, and the meteoric success of Chika’s, a multi-million-pound UK snack brand that highlights Nigerian flavors, shows a growing appetite for West African food. While the trend caused controversy and a backlash from some in Africa, it also sparked interest in West African cuisine among US internet users that has continued since. Next will be African cuisine – that’s why we are preparing the market,” he adds.
Persons: Meza Malonga, Dieuveil Malonga, , Malonga, , Dieuveil, Chris Schwagga, Europe’s, , matriarchs, Meza Organizations: CNN, Michelin, Chefs, Malonga's, Ikoyi Locations: Uganda, Cameroon, Africa, “ Africa, Brazzaville, Republic of Congo, Germany, Kigali, Rwanda, France, Europe, Malonga's Congolese, Congolese, Münster, Ivory Coast, Ghana, West, West African, Musanze, Lake Ruhondo
Takeaways From Nikki Haley’s Mild CNN Town Hall
  + stars: | 2023-06-05 | by ( Trip Gabriel | ) www.nytimes.com   time to read: +2 min
Compared with CNN’s explosive, much-criticized town-hall-style event with Mr. Trump last month, this one was a throwback to earlier, less combative times. Jake Tapper, the anchor who moderated, never found the need to correct Ms. Haley. The two big red elephants in the room, Mr. Trump and Gov. Both Mr. Trump and Mr. DeSantis, who once supported similar changes, now say they won’t touch the programs. But she displayed less of the punitive rhetoric on the issues that Mr. Trump and Mr. DeSantis have made crucial to their messages.
Persons: Trump, Jake Tapper, Haley, Ron DeSantis, DeSantis, Ms, “ Pick, , , ” Haley, Biden Organizations: Gov, Republican, Social Security, Medicare, Disney, United Nations Locations: Trump, Florida, Paris
Costco fans don't have to worry about the chain raising its membership fees, at least not yet. CFO Richard Galanti said last week that it has been about 6 years since the last hike. He said that's usually the amount of time between increases yet there are no plans to boost fees. It typically raises membership fees about every five and a half to six years, but a top executive recently said the chain isn't planning to bump the fees — at least not yet anyway. Costco recently checked in near the top of an annual survey of America's most trusted brands, second only to Patagonia.
Persons: Richard Galanti, that's, , didn't, Galanti, we've, Craig Jelinek Organizations: Costco, Service, Walmart, Target Locations: Patagonia
"We are avoiding default tonight," Senate Majority Leader Chuck Schumer said on Thursday as he steered the legislation through his 100-member chamber. "In the coming months, Senate Republicans will continue working to provide for the common defense and control Washington Democrats’ reckless spending," he said in a statement. McConnell was referring to 12 bills Congress will work on over the summer to fund government programs in the fiscal year beginning Oct. 1, which will also carry out the broad instructions of the debt limit bill. Unlike most other developed countries, the United States limits the amount of debt the government can borrow, regardless of any spending allocated by the legislature. The last time the United States came this close to default was in 2011.
Persons: Joe Biden, Chuck Schumer, Biden, Kevin McCarthy, Mitch McConnell, McConnell, Janet Yellen, Schumer, McCarthy, Yellen, Roger Marshall, Richard Cowan, David Morgan, Moira Warburton, Gram Slattery, Scott Malone, Alistair Bell, Diane Craft, Kieran Murray, William Mallard Organizations: U.S, Senate, Representatives, Republicans, The Treasury Department, Democratic, Republican, Washington Democrats, Social Security, Treasury, Russia, Office, Thomson Locations: United States, America, West Virginia, U.S, Mexico, Ukraine, China, Russia
1 steak consumer per capita despite the painful impact of 109% inflation on food prices, a Rosario grains exchange report showed on Friday. That, however, seems to be partly reversing, even in the face of one of the world's highest inflation rates which has badly hurt spending power. Reuters GraphicsThe exchange said the relative cost of beef versus pork and chicken had dropped since 2021, though it remained elevated versus a historical average. The proportion of beef in meat consumption climbed this year to 46% from 44% two years ago. The recent bump in the data underscores the importance of beef in Argentine culture, even as the highest inflation rate since 1991 has pushed some 40% of the population into poverty.
Persons: Gross, Anna, Catherine Brigida, Richard Chang Organizations: Reuters, Thomson Locations: BUENOS AIRES, Rosario
Another Sign Beef Prices Could Keep Climbing
  + stars: | 2023-06-01 | by ( ) www.wsj.com   time to read: 1 min
Live cattle futures reached a new all-time high Thursday, a sign that rising beef prices have further to climb. Live cattle refer to cows that have been fattened at feedlots to a suitable heft for slaughter. August futures, the most actively traded, traded at $1.72 a pound, topping the high of $1.71 set in 2014.
Locations: feedlots
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Persons: Dow Jones
Why Iran keeps seizing oil tankers in the Strait of Hormuz
  + stars: | 2023-06-01 | by ( Brad Howard | In | ) www.cnbc.com   time to read: +1 min
Over the last decade, Iran has been causing more and more headaches for oil tanker operators in the Strait of Hormuz, a central artery of global trade. In the last two years alone, Iran has harassed, attacked or interfered with 15 internationally flagged merchant vessels. This critical waterway separates the Persian Gulf from the Arabian Sea, which makes it an important conduit for millions of barrels of oil that flow through the region. In response to Iranian ship seizures, the U.S. Navy's Fifth Fleet, which is responsible for security in the region, announced an increase in patrols. That included the guided-missile destroyer USS Paul Hamilton transiting the strait in late May.
Persons: Trump, Arona Baigal, Paul Hamilton, Victoria Coates Organizations: Middle East Security, Center, New, Navy's, Heritage Foundation, U.S Locations: Iran, Strait, Hormuz, New American, Iranian, U.S
Both “Spider-Verse” films, in what will be a trilogy, create dimension in these kinds of details, and I don’t just mean the animation. Because what else is adolescence but a confrontation with the various possibilities in life, the infinite selves you can be? The fact that Miles and Gwen also shoot webs and swing around skyscrapers is incidental to their emotional arcs in the film. “Spider-Verse” also asks intriguing questions about the limitations of the canon, and whether tragedy is a prerequisite for a Spider-Man origin story — the death of an Uncle Ben or Aunt May or Uncle Aaron. But “Across the Spider-Verse” is never dull, nor precious with its characters and comedy.
Persons: Gwen, Joaquim Dos Santos, Kemp Powers, Justin K, Thompson, Miles, Uncle Ben, Uncle Aaron, , three’s Locations: New York, Jamaican, two’s
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