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Prices of cocoa have more than tripled over the last year, creating a big headache for candy makers and other food companies that use the ingredient to make chocolate. The price surge has since eased off slightly, but the crop is still commanding well above what food companies are used to paying. This season's cocoa crop is expected to experience the largest deficit in at least six decades, according to a Rabobank report from May. A YouGov survey conducted in October found that 72% of U.S. respondents had noticed shrinkflation in food products. J&J Snack Foods CEO Daniel Fachner has been keeping an eye on cocoa and chocolate prices.
Persons: Ferley Ospina, Hershey, Kinder, Ferrero, they'll, Steve Rosenstock, Mondelez, shrinkflation, Daniel Fachner, Fachner, Justin Sullivan, Nik Modi, Modi, shea, Rosenstock Organizations: Bloomberg, Getty, Cadbury, Clarkston Consulting, Rabobank, Reuters, Mondelez, Consumers, Snack, CNBC, RBC Capital, Jumbo Locations: Ragonvalia, Norte de Santader, Colombia, . West Africa, Ghana, U.S, Novato , California, West
New York CNN —Titanium that was distributed with fake documentation has been found in commercial Boeing and Airbus jets. Now the Federal Aviation Administration, the aircraft manufacturers and supplier Spirit AeroSystems are investigating whether those components pose a safety hazard to the public. The FAA and Boeing confirmed that they are investigating the matter. Boeing said the questionable parts come from a limited set of suppliers, and tests performed to date have indicated that the correct titanium alloy was used. Airbus has also had problems with some of the engines that have grounded some of its planes owned by different airlines.
Persons: , Joe Buccino, Organizations: New, New York CNN, Boeing, Airbus, Federal Aviation Administration, New York Times, Times, FAA, Spirit, Max, “ Boeing, Alaska Airlines Locations: New York
Honda has unveiled the N-VAN e, a tiny electric truck costing from $15,500. The diminutive truck is targeted at delivery companies and goes on sale in Japan in October. Japan is famous for its tiny Kei cars, which are ideal for short journeys and city driving. Now, Honda is getting into the tiny EV game. The Japanese automaker has unveiled the N-VAN e, a miniature electric truck that starts at 2.44 million yen ($15,500).
Persons: , Nissan Organizations: Honda, Service, Kei, Bloomberg Locations: Japan, Tokyo
Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 20, 2024. Adobe shares surged 15% on Friday, the biggest gain since March 2020, after the software maker reported earnings and revenue that beat analysts' estimates. Salesforce shares suffered their worst plunge since 2004 late last month after the cloud software vendor posted weaker-than-expected revenue and issued disappointing guidance. Even after Friday's rally, Adobe shares remain down 12% for the year. WATCH: CNBC's interview with Adobe CEO Shantanu Narayen
Persons: Shantanu Narayen, Narayen, Salesforce, CrowdStrike, Piper Sandler Organizations: CNBC, New York Stock Exchange, Adobe, Creative, Digital Media, Oracle, Google Locations: New York City, U.S
Only a week ago, the military said that the pier had been repaired and reattached to the Gaza shore after breaking apart in turbulence. The post added that the pier would be “rapidly re-anchored” off the coast of Gaza when the expected turbulence passed. This relocation is the latest blow to the U.S. effort to facilitate aid deliveries by sea to Gaza. The pier was damaged by rough seas in late May and had to be taken out of service. The World Food Program, a U.N. agency, did not immediately respond to a request for comment on Friday.
Persons: Biden, Sabrina Singh, Cindy McCain, “ I’m, Ms, McCain Organizations: U.S, U.S . Central Command, Pentagon, Food, CBS News Locations: Gaza, United States, Israel, U.S, Rafah
That's how it worked out for Matthew Parkhurst, co-founder and CEO of New York-based tech startup Antimetal. The company was ready to emerge from its beta phase, and Parkhurst wanted to make potential clients aware that Antimetal even existed. Antimetal spent roughly $15,000 on pizzas, packaging and targeted delivery to potential clients, venture capital firms and even tech influencers with large social media followings. It worked: Roughly 75 of the companies that received pizza have become Antimetal clients, Parkhurst says — creating a bump of more than $1 million in annualized net revenue, according to documents reviewed by CNBC Make It. "Obviously, the ROI [return on investment] is insane on the revenue side, compared to what we spent," Parkhurst says.
Persons: Matthew Parkhurst, Parkhurst, Antimetal Organizations: San, CNBC Locations: New York, San Francisco
“I believe he’ll be a pro-life president in the future also.”Many senior Trump administration alumni and allies are now mapping out and drafting policy options for a second Trump term. A second Trump term would also put back in place and expand restrictions on Title X grants – federal funds for public and nonprofit groups that provide family planning. Resurrecting these actions in a second Trump would almost entirely be up to the discretion of whomever he appoints to lead the relevant federal agencies. With Roe v. Wade’s protections erased, anti-abortion activists would like a second Trump administration to push harder than it did before – especially in restricting access to mifepristone. Abortion rights advocates worry he could play an outsize role shaping abortion restrictions in a potential second Trump administration.
Persons: Donald Trump’s, Ronald Reagan, , Roe, Wade, Dobbs, Trump, ” Trump, , Trump –, Joe Biden’s, Kellyanne Conway, ’ ”, Mary Ziegler, Davis, Roger Severino, Trump’s, Reagan, Biden, ” Julie Lewis, Ziegler, David S, Cohen, Comstock, Skye Perryman, ” Mark Lee Dickson, Donald J, ” Dickson, “ He’s, Jonathan Mitchell, Mitchell Organizations: CNN, Trump, New, Capitol, “ Republicans, Democratic, Republican, Fox, Heritage Foundation, Biden’s, Department, University of California, Trump Health, Human Services, HHS, Food and Drug Administration, DOJ, UC Davis, Food, FDA, ” Drexel University, White, Justice Department, Democracy, Department of Justice, Cities, mifepristone, Time Locations: New York, Florida, Arizona, Mexico, Texas, America, United States, Colorado
CNN —The Biden administration on Friday imposed sanctions on an Israeli group for disrupting humanitarian convoys headed to Gaza. The sanctions against the organization are the latest punitive measure taken under an executive order targeting those perpetrating violence in the West Bank. “They also have damaged aid trucks and dumped life-saving humanitarian aid onto the road. President Joe Biden signed an executive order earlier this year allowing sanctions on those causing West Bank violence. The order has been used to roll out sanctions on Israeli settlers attacking Palestinians in recent months.
Persons: CNN —, Biden, Matthew Miller, , , Miller, Joe Biden, CNN’s Clarissa Ward, Brent Swails Organizations: CNN, US Treasury Department, US State Department, West Bank, , Biden, Reuters Locations: Gaza, Kerem, Jordan, Hebron, Israel
Still, back in the US, he recognized the argument that low-paid workers in the service industry have traditionally relied on tips to earn a living wage. Ozeki never ordered food for deliveryBut he said that recent increases in the minimum wage have changed the landscape — at least in certain states. AdvertisementIn California, for example, the minimum wage for fast-food workers rose by law this year from $16 to $20 an hour. "The current minimum wage at a fast food place is higher than my starting salary 15 years ago," Ozeki said. Have you seen your tips dip recently as a service industry worker?
Persons: , Ken, Ted Rossman, Rossman, jridley@businessinsider.com Organizations: Service, Business, Franciscan Locations: Japan, California
Shares of AFC Energy , a provider of hydrogen-fueled power generation technologies, is expected to more than double over the next year, according to RBC Capital. The London-listed company, founded in 2006, makes a range of proprietary hydrogen fuel cell systems aimed at off-grid and remote power generation for construction, mining, and transportation industries. U.K. shares are generally priced in pence, with 100 pence equal to one British pound ($1.28). The 30-kilowatt generators consume hydrogen for fuel and will be available to customers in the U.K. through its joint venture with equipment hire firm Speedy Hire . The three-year deal with Speedy Hire — under its Speedy Hydrogen Solutions brand — will target U.K. and Irish construction and emergency power markets.
Persons: Erwan Kerouredan, Victoria McCulloch, Saudi Arabia's Organizations: AFC Energy, RBC Capital, RBC, AFC, Saudi, Speedy Hire Locations: London, British, United States, Germany, East, North Africa, Saudi
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Restaurants raised prices to offset the new wageCalifornia raised its minimum wage for workers at limited-service restaurants to $20 an hour on April 1. To offset their higher labor costs, restaurants have raised prices, turned to technology and automation like order kiosks, and considered reducing their opening hours. In-N-Out told KTVU that it had raised prices "incrementally" on April 1. Californian residents are divided: Some acknowledge that fast food is a tough gig and support the new minimum wage, while others say it will push prices up too much.
Persons: , Burger King, Hottovy, Jack Organizations: Service, Golden State, Business Locations: Burger, California, Golden, Placer.ai, McDonald's
The spotlight has seemingly shifted in the past year toward companies going to market, hoping to ride on the coattails of India's growth story. Growing foreign listingsThe allure of India's stock markets has trickled to companies beyond its shores — with foreign entities eyeing a share of its growth. Such listings add strength to India's markets, says M&G Investment's Asian Equities Portfolio Manager Vikas Pershad. The optimism on India's IPO boom is sometimes marred by concerns over elevated valuations of its stock market — and whether it is headed toward a bubble. "When we look at India, we see continued economic and earnings per share growth and higher levels of profitability," Dorson from Global X told CNBC's Inside India.
Persons: Swiggy, Debarchan Chatterjee, Neil Bahal, Dhruba Jyoti Sengupta, Ola, PhonePe, Ola Electric, Sengupta, Vikas Pershad, Malcolm Dorson, CNBC's Organizations: Getty, Reliance Industries, Adani Enterprises, Mankind Pharma, Negen, Securities, Exchange Board, Wrise Private, Aakash Educational Services, Aakash Educational, Walmart, United Arab, Hyundai, Insurance Corporation of India, Maruti Suzuki, Hindustan Unilever, Siemens, ABB India, Global Locations: Kolkata, India, SEBI, United Arab Emirates, Sri Lanka, Hyundai India, India's, Maruti Suzuki India, Hindustan
To date, the pier has been used to move thousands of tons of aid into Gaza, officials have said. The Pentagon acknowledged that there was some Israeli military activity “nearby” to the staging area for the pier but denied that the pier was used in the operation. Humanitarian officials say while any assistance getting into the Gaza strip is useful, the pier is not a sustainable mode for doing so. Even with additional openings, major obstacles to distribution within the Gaza strip remain and humanitarian officials tell CNN that there is still not an effective deconfliction method to protect aid workers. “A very expensive distraction,” one humanitarian aid official said of the pier.
Persons: Cindy McCain, we’re Organizations: CNN, Logistics, Shore, Hamas, Pentagon, CBS, UN, Department of Safety, Security Locations: Gaza, Israel, Ashdod,
Read previewFrom versatile crispy jalapeño pieces to luscious Southern-style peach ice cream, Trader Joe's has plenty of seasonal items for the summer. As part of an ongoing series in which I review Trader Joe's seasonal products, I gave the chain's summer offerings a try. These crispy jalapeño pieces would elevate just about any summer mealI had heard great things about Trader Joe's crispy jalapeño pieces. No frozen treat is complete without one of Trader Joe's organic sugar conesThis sugar cone paired well with Trader Joe's peach-crisp ice cream. As my experience is with most Trader Joe's salad kits, I think it also could've used a lot more dressing.
Persons: , Joe's, Wilson, arugula, I've, graham, shortbread, dill, Wilson I'm, doesn't, garlicky, you'd, hummus, Savanna, I'm salivating, I'm, crisps, they're, ravioli, I'd, morsel, didn't, soggy, It's, jalapeño, jalapeño crisps Organizations: Service, Business, Wilson, nacho, snacking Locations: Savanna, dill, Jolly, radicchio
Mariupol, a port city on the Sea of Azov, was encircled and captured by Russian forces at the start of the full-scale invasion of Ukraine. This included the establishment of ad hoc distribution points for food, water and other basic necessities. They were attacking food distribution points.”There were numerous opportunities for Russian forces to alleviate civilian suffering, he said, but they failed to do so. Ukrainian authorities and some international officials have previously accused Russia of robbing the country of grain and other commodities in areas it occupied. Accusations that Russia is using food as a weapon of war have been mounting ever since the first reports emerged in the spring of 2022 of grain being stolen by Russian troops.
Persons: , Nikolai Osychenko, , Osychenko, Mariupol, Alexei Alexandrov, , Yousuf Syed Khan, Cross, ” Khan, Pavel Klimov, Khan, Vladimir Putin Organizations: CNN, Mobile, Team, Global, International Criminal Court, ICC, EU Commission, Russia’s Ministry of Defense, Mariupol City, Global Rights, International Committee, United Nations, Reuters, Russian Locations: Russia, Mariupol, Ukrainian, Netherlands, United Kingdom, United States, Azov, Russian, Ukraine, Ukraine’s Donetsk Oblast, Mariupol City, , Moscow, Syria, Aleppo City
"But at places like sit-down restaurants, hair salons, barber shops or getting food delivered, tipping is customary." Just 67% of adults in Bankrate's survey say they always tip at restaurants. "So if you're not tipping in those scenarios, you're really taking money out of the server's pocket." When it comes to those who cut your hair and deliver your food, you should just about always tip, etiquette experts say. In other words, if you asked for a service and out-and-out didn't receive it, you're OK reducing or withholding a tip, etiquette pros say.
Persons: they're, Ted Rossman, Thomas Farley, Mister Manners, Farley, Elaine Swann, Diane Gottsman, Gottsman Organizations: Swann School of, CNBC, Protocol, of Texas Locations: Bankrate,
Samsung unveils plan to speed up delivery of AI chips
  + stars: | 2024-06-12 | by ( ) edition.cnn.com   time to read: +2 min
Samsung expects global chip industry revenue to grow to $778 billion by 2028, boosted by AI chips, Choi said. Samsung is one of the few companies that sells memory chips, offers foundry services and designs chips under the same roof. GAA is seen as important to keep making more powerful chips for AI as chips become finer to the point of pushing the boundaries of physics. Although competitors such as global foundry No 1 TSMC are also working on chips using GAA, Samsung started applying GAA earlier, and said it plans to mass produce its second-generation 3-nanometer chips using GAA in the second half of this year. Samsung also announced its latest 2-nanometer chipmaking process for high-performance computing chips, which places power rails on the backside of the wafer to improve power delivery.
Persons: , , Siyoung Choi, Choi, Marco Chisari, Sam Altman’s, Altman Organizations: San Jose Reuters, Samsung Electronics, Samsung, Foundry Sales, chipmaker, Reuters, South Locations: Seoul, San Jose, San Jose , California
AdvertisementA Fisker spokesperson said it would be "unfair" to compare the two companies. A Fisker spokesperson denied comments that Henrik took on a more passive role and said he was "deeply involved." AdvertisementA Fisker spokesperson said Magna was responsible for testing and releasing the Ocean and it had been fully certified by regulators in the US and Europe. But in the year since the Ocean's release, the company has delivered around 7,000 vehicles, a Fisker spokesperson said. A Fisker spokesperson pushed back on the comments questioning Henrik's business prowess.
Persons: , Henrik Fisker, Wendy Gruel's, Geeta Gupta, Gupta, Henrik Fisker's, James Bond, Henrik, Fisker, Rivian, Tesla, Phil McCarten, Magna, hadn't, YouTuber, Marques Brownlee, Kurt Mechling, he'd, they'd Organizations: Service, Business, TechCrunch, Aston Martin, BMW Z8, Magna International, Fisker Inc, Apollo Global Management, Tesla, Ford, GM, Magna, Reuters, Fisker, Business Insider, Engineers, Traffic Safety Administration, NHTSA, Technicians, California Bureau of Automotive, BI, New York Stock Exchange Locations: Fisker, Europe, California, Graz, Austria, Panera
Read previewA second US Patriot system is headed for Ukraine following appeals for further air defenses, according to reports. The MIM-104 Patriot missile system has been hailed as a major success in Ukraine, shooting down Russian missiles and aircraft as Ukraine fights back against Russia's invasion. AdvertisementUkrainian President Volodymyr Zelenskyy said in April that Ukraine needs 25 Patriot systems, with between six and eight batteries each, to protect its skies. Germany said in April that it would send Ukraine another Patriot battery, and Ukraine is also set to get more Patriot missiles from other countries. He announced the delivery "after I saw how critical Ukraine's air defense is for its survival," he said.
Persons: , Joe Biden, Volodymyr Zelenskyy, Dmytro Kuleba, Kuleba Organizations: Service, US Patriot, Patriot, Business, Patriots, New York Times, Associated Press, Army, Times, Republicans Locations: Ukraine, Netherlands, Germany, Poland, Russia, Kharkiv
New York CNN —More than 15,000 Amazon contract drivers filed arbitration claims against the e-commerce giant on Tuesday, alleging Amazon classified them as independent contractors instead of employees with minimum wage and overtime rights. Amazon Flex, launched in 2015, allows independent contractors to sign up to deliver Amazon packages. Flex drivers provide Amazon Fresh grocery deliveries or same-day deliveries from the company’s warehouse hubs. Since the drivers are classified as independent contractors, these claims ask for compensation for unpaid wages and overtime, and reimbursement for expenses such as mileage and cell phone usage. Tindall told CNN that the workers filed independent arbitration claims instead of a class action lawsuit because drivers have to sign an agreement that forbids class action.
Persons: misclassification, Steven Tindall, Tindall, Joseph Sellers, , Sellers, we’re, ” Tindall, CNN’s Samantha Delouya Organizations: New, New York CNN, Amazon, Flex, American Arbitration Association, Drivers, CNN Locations: New York, California , Massachusetts, Illinois
In passing the resolution, the Council delivered a diplomatic victory to Washington, which had vetoed three previous cease-fire resolutions before the Council. Video transcript Back bars 0:00 / 0:43 - 0:00 transcript United Nations Security Council Backs Gaza Cease-Fire Resolution Fourteen of the 15 members on the U.N. Security Council, with Russia abstaining, voted in favor of adopting a proposal calling for a permanent cease-fire in Gaza. The draft resolution has been adopted as resolution 2735.” “Colleagues, the cease-fire deal would pave the way toward an enduring cessation of hostilities and a better future for all. Russia and China and Algeria, the only Arab member of the Security Council, had said in back-channel negotiations that the text appeared too lopsided in favor of Israel. Ever since the war started eight months ago, the Security Council has been in a deadlock over finding a way to end the conflict and fulfill its mandate to uphold international peace and stability.
Persons: , Linda Thomas, Greenfield, Thomas, Israel, , ” “, Biden, There’s, Michael M, Reut Shapir Ben, Naftaly, Ms, Shapir Ben, Vasily Nebenzya, Nebenzya, Nate Evans, Evans, “ Israel, Marko Djurica, Benjamin Netanyahu, Fu Cong Organizations: . Security, United Nations, United Nations Security, Hamas, Credit, U.S, ., Reuters, ” Diplomats, States, Security, Security Council, United Locations: U.S, Gaza, Russia, Washington, United States, Qatar, Egypt, Israel, Russian, Tel Aviv, China, Algeria
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Brisbane, Australia CNN —An Australian billionaire is offering to build a secure gate system on the Israel-Gaza border that he says could allow 10,000 metric tons of food aid to be delivered each day to starving Palestinians. He’s also committed $5 million to improve the Jordanian humanitarian land corridor by building storage warehouses to allow more aid to pass to Gaza. Cargo trucks carrying humanitarian aid move through security inspections before crossing into the Gaza Strip, in Kerem Shalom, Israel on March 14. The IDF has repeatedly said hundreds of trucks carrying humanitarian aid have been entering the Gaza Strip, but aid organizations say the supplies are not reaching civilians in need. The passage of aid into Gaza has become gridlocked by Israeli inspections, and in some cases the temporary closure of access points.
Persons: Australia CNN —, Andrew Forrest, Antony Blinken, He’s, ” Forrest, Minderoo, Forrest, Israel, Fortescue, Marcus Yam Organizations: Australia CNN, Minderoo Foundation, United Nations, US, CNN, Cargo, Los Angeles Times, Israel Defense Forces, Ministry of Health, IDF, United Nations Security, Systems, NET, US Agency for International Development Locations: Brisbane, Australia, Israel, Gaza, Jordan, Egypt, Kerem Shalom, airdrops
Boeing sales remain stalled
  + stars: | 2024-06-11 | by ( Chris Isidore | ) edition.cnn.com   time to read: +2 min
New York CNN —Boeing reported another weak month for new plane orders as it struggles to overcome questions about safety and production problems with its commercial jets. The company reported it took orders for only four new jets in May, all for the 787 Dreamliner, and none for the troubled 737 Max. That was down from even the modest orders of seven gross orders in April, and far below the order of 69 jets it reported in May 2023. Orders for Boeing jets have fallen sharply, for the most part, from the strong sales it reported in 2023, including a monthly record for orders in December, due to airlines’ eagerness to expand their capacity to meet increased passenger travel demand. Shares of Boeing, a component of the Dow Jones industrial average, fell more than 3% on the report.
Persons: Max Organizations: New, New York CNN, Boeing, American Airlines, FAA, Alaska Airlines, Dow Locations: New York
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,
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