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☆ What Tesla’s EV charging win really means for drivers
▼ + stars: | 2023-06-15 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +8 min

A Tesla charging station stands in a parking lot on January 17, 2023 in Springfield, Virginia. But other EV charging companies have, so far, faced a far greater reliability challenge than Tesla’s. It’s an integrated system and has been from the very beginning,” said Jim Burness, chief executive of National Car Charging, a wholesaler of equipment to the EV charging industry. In both cases, drivers will be able to access Tesla chargers without having to use Tesla apps. That could lead to more lines at Tesla chargers, irritating Tesla owners.

Persons: Tesla, Anna Moneymaker, Stephanie Brinley, Jon McNeill, ”, “ Tesla, Jim Burness, Justin Sullivan, Alan Wexler, “, ” Wexler, Dan Barbossa, CNN’s, Mark J, Terrill, they’re, you’re, Brendan Jones, Blink, Burness, “ That’s, Stephen Beck, Gary Silberg Organizations: CNN, P Global Mobility, Ford, General Motors, EV, GM, Nissan, Tesla, DVx Ventures, CNN Business, Detroit, CCS, KPMG Locations: United States, Springfield , Virginia, America, San Francisco , California, Westlake, Calif

☆ The Fed forecasts two more hikes in 2023, taking rates as high as 5.6%
▼ + stars: | 2023-06-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

WASHINGTON, DC - MAY 03: Federal Reserve Board Chairman Jerome Powell delivers remarks at a news conference following a Federal Open Market Committee meeting on May 3, 2023 in Washington, DC. The Federal Reserve announced a 0.25 percentage point interest rate increase bringing the key federal funds rate to more than 5%, a 16-year high. (Photo by Anna Moneymaker/Getty Images) (Photo by Anna Moneymaker/Getty Images)The Federal Reserve paused its hiking campaign in June, but forecast it will raise interest rates as high as 5.6% before 2023 is over, according to the central bank's projections released on Wednesday. The Fed on Wednesday kept the key borrowing rate in a target range of 5%-5.25%. Fed Chairman Jerome Powell said the next gathering for the committee in July remains a "live" meeting, signaling that a quarter-point hike isn't baked in yet.

Persons: Jerome Powell, Anna Moneymaker, Powell, hasn't Organizations: Federal Reserve, Fed, Wednesday Locations: WASHINGTON, DC, Washington ,

☆ Nasdaq hits 13-month high as investors look ahead to OPEC+ meeting and Apple headset event
▼ + stars: | 2023-06-03 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

It was a strong week for all three major stock indices, with the market bolstered Friday by strong jobs data and a deal in Washington to raise the U.S. debt ceiling. The S & P 500, the Nasdaq and the Dow Jones Industrial Average all finished the week roughly 2% higher. While Friday's rally broadened out beyond just the usual tech stocks, the Nasdaq ended Friday at its highest level since April 2022. This is the key data to look out for in the week ahead: Monday, June 5 9:15 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: payrolls, Biden, Investors, we've, Joann, JOAN, Ferguson, JM Smucker, Buster's, Campbell Soup, OLLI, Friday's, Jim Cramer's, Jim Cramer, Jim, Anna Moneymaker Organizations: U.S . Labor Department, Nasdaq, Dow Jones Industrial, Organization of Petroleum, Monday Club, Apple, PMI, THOR Industries, ABM Industries, Academy Sports, Ciena Corp, Foods, GameStop, Signet Jewelers, SIG, Company, Brands, Vail Resorts, MTN, Labor, Federal Reserve, U.S, West Texas, Treasury, Jim Cramer's Charitable, CNBC, Capitol, Getty Locations: Washington, OPEC, Vienna, China, U.S, Washington , DC

☆ For companies, the stakes are high this Pride
▼ + stars: | 2023-06-01 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +10 min

New York CNN —Companies have long embraced Pride Month in June as an uncomplicated way to market to members of the LGBTQ+ community while telegraphing progressive values. Gavin Newsom called out Target’s CEO for “selling out the LGBTQ+ community to extremists.”The current landscape “is alarming,” Todd said. “That middle ground is going away.”So this year, companies that want to participate in Pride have to be prepared to take a real stance. Some of those lashing out have described a campaign against Pride itself, rather than Bud Light or Target (TGT) specifically. It won’t be worth whatever they think they’ll gain.”It’s no coincidence that the anti-trans assault comes as trans rights are under legal attack across the nation.

Persons: Bud Light, Bud Light’s Instagram, Bud, BUD, Eric Thayer, ”, Daniel Korschun, “, —, Jared Todd, Gavin Newsom, ” Todd, ” Korschun, Sen, J.D, Vance, J, Justin Sullivan, Anna Moneymaker, Matt Walsh, Sarah Kate Ellis, Ellis, Trevor, Seth Wenig, ” Ellis, Todd, It’s, didn’t, Colin Kaepernick, Drexel’s, Korschun, Jared Watson, ” Watson, Watson, Pattie Gonia, ’ ” Watson, ’ Organizations: New, New York CNN — Companies, Target, Bud Light, Anheuser, Busch, National LGBT Chamber of Commerce, Bloomberg, Getty, Drexel University, Wall Street, Foundation, Human Rights, HRC, California Gov, —, Pride, Twitter, HumanRights, UCLA School of Law, GLAAD, Morning, Nike, New York University, “ Locations: New York, Ohio, Target, California, America, New Jersey

☆ Inside a debt ceiling standoff ‘far more dangerous than people will recognize’
▼ + stars: | 2023-05-31 | by ( Jeremy Diamond Lauren Fox Melanie Zanona Phil Mattingly Arlette Saenz Kevin Liptak | Jeremy Diamond | Lauren Fox | ) edition.cnn.com time to read: +17 min

“She’s well respected by both sides,” McCarthy said of the former longtime House Appropriations Committee staffer, according to White House officials. “Asking me about the communication (with the White House) implies there was communication,” one House Democrat said. For the White House negotiators, that meant late nights and early mornings. The White House negotiators left Capitol Hill abruptly and for hours, it was unclear when the conversations would resume. Quietly, White House negotiators had never actually stopped talking to their Republican counterparts.

Persons: Joe Biden, Kevin McCarthy, McCarthy, “, “ You’ve, ” Rep, Patrick McHenry, Biden, Steve Ricchetti, Shalanda Young, Louisa Terrell, ” McCarthy, James S, Alex Wong, Young, Garret Graves, ” Graves, Graves, Tom Cole of, ” Cole, White, Jeff Zients, McHenry, ‘, Chuck Schumer, Hakeem Jeffries, Ricchetti, ”, ” Terrell, Dan Meyer, –, apprised, decamping, ’, Anna Moneymaker, nonstarters, ” McHenry, McHenry –, —, Susan Walsh, businesslike, Biden’s, Eisenhower, Zients, Jose Luis Magana, Young –, Louisianans –, Jim Clyburn, Clyburn, Annie Kuster, ” Kuster, wasn’t, ” Young Organizations: CNN, White, ”, Republican, Legislative, Young, Management, Brady, Capitol, White House, GOP, McCarthy’s, Pennsylvania, Capitol Hill, U.S, Biden, Democrat, Democratic, Republicans, Building, Air Force, West Executive, LSU Tigers, South Carolina Democrat, New Democrat Coalition, Democrats Locations: Irish, Washington , DC, Louisiana, Tom Cole of Oklahoma, McHenry, Hiroshima, Japan, Washington

☆ Not just Disney: DeSantis brings history of business battles to the presidential campaign
▼ + stars: | 2023-05-24 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +8 min

Ron DeSantis officially launched his presidential campaign Wednesday, putting his blend of pro-business conservativism and culture-war populism to the test at the national level. In the most recent legislative session, DeSantis signed a bill that stopped union dues from being automatically deducted from public employees' paychecks. Ron DeSantis, a critic of environmentally sensitive investing, didn't succeed in protecting his constituents from the ravages of Hurricane Ian, which may have been intensified by global warming. DeSantis signed a bill in early May barring state and local officials from making ESG-based investment decisions. The Disney sagaApparel promoting Florida Governor Ron DeSantis sit on a table before a book tour event at the North Charleston Coliseum on April 19, 2023 in North Charleston, South Carolina.

☆ Why some Democrats think Biden shouldn't worry about legal challenges that would come from getting rid of the debt ceiling forever
▼ + stars: | 2023-05-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

A US default could be days away, and Congress still doesn't have a debt ceiling deal. Some Democrats think Biden should use the 14th Amendment to address the crisis. On Monday evening, McCarthy and Biden met once again to attempt to reach an agreement on raising the debt ceiling and avoiding an unprecedented default. Experts and lawmakers have said that this clause makes a default, and therefore the debt ceiling, unconstitutional, getting rid of the issue forever. Anna Moneymaker/Getty ImagesWhy Biden shouldn't worry about legal challengesNo president has ever invoked the 14th Amendment to address the debt ceiling.

☆ Here's every country that has banned TikTok as the US threatens a nationwide ban. Montana is the first state to pass a total ban.
▼ + stars: | 2023-05-18 | by ( Aaron Mcdade | Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Anna Moneymaker/Getty ImagesPresident Joe Biden's administration has supported bills introduced in Congress that would give the president greater authority to ban apps like TikTok. Last month, Montana became the first state where lawmakers approved a bill banning the app. TikTok previously pledged to challenge it if it was enacted into law, and has called the bill "censorship" and a violation of the First Amendment. The current plan is to fine app store owners like Apple and Google, along with TikTok itself, $10,000 per day the app can be accessed by users in the state. TikTok users in the state will not be punished under the current plan.

☆ Social Security, Medicare, federal salaries: What payments may be delayed in debt ceiling standoff
▼ + stars: | 2023-05-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Among the ramifications of a debt ceiling standoff, any payment issued by the federal government — like Social Security, Medicare, tax refunds, military paychecks and ample others — may be delayed. Alex Wong | Getty Images News | Getty ImagesThe U.S. is in this situation due to a political standoff tied to the debt ceiling, also known as the debt limit. Congress periodically raises or temporarily suspends the debt ceiling to avoid the other scenario: a default on the national debt and other federal payments. Here's the current problem: The country hit the debt ceiling — currently $31.4 trillion — in January. Federal Reserve officials alluded to the likelihood of prioritizing bondholders in a 2011 meeting that followed an earlier debt ceiling episode.

☆ $7.25 federal minimum wage is a 'national disgrace,' says Sen. Bernie Sanders, backing push for $17/hour
▼ + stars: | 2023-05-08 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Sen. Bernie Sanders, I-Vt., speaks on raising the federal minimum wage outside the U.S. Capitol on May 4, 2023. Anna Moneymaker | Getty Images News | Getty Images13 states have approved a $15 minimum wageToday, 13 states have approved a $15 minimum wage, Sanders said. Sen. Bernie Sanders Independent U.S. senator from VermontDemocrats had pursued raising the federal minimum wage in recent years, though those efforts stalled. When President Joe Biden took office, he promised to address the federal minimum wage in his first 100 days, Blalock recalled. 'A weak minimum wage is bad for the overall economy'Opponents to raising the minimum wage cite the higher costs those increases would put on businesses.

☆ Jobs Report to Show How Labor Market Weathered Bank Failures, High Interest Rates
▼ + stars: | 2023-05-05 | by ( Sarah Chaney Cambon | ) www.wsj.com time to read: 1 min

Federal Reserve Chair Jerome Powell said that the central bank would raise its benchmark interest rate by a quarter-percentage point. Photo: Anna Moneymaker/Getty ImagesFriday’s jobs report will show how the labor market fared in April, as the economy faced banking turmoil, rising interest rates and still-high inflation. Other signs show the red-hot labor market is modestly cooling this spring. That in part reflects a return to a more normal job market after a rapid rebound from pandemic layoffs three years ago. But some employers are now also slowing hiring out of caution about the economic outlook.

☆ April Jobs Report Shows Hiring Remained Robust in a Slowing Economy
▼ + stars: | 2023-05-05 | by ( Sarah Chaney Cambon | ) www.wsj.com time to read: 1 min

Federal Reserve Chair Jerome Powell said that the central bank would raise its benchmark interest rate by a quarter-percentage point. Photo: Anna Moneymaker/Getty ImagesEmployers added 253,000 jobs while the jobless rate fell to 3.4% in April, showing the job market is resilient amid banking turmoil, rising interest rates and high inflation. Last month’s strong job growth suggests the labor market remains a pillar of strength in a cooling economy. The economy grew more slowly to start the year versus the end of 2022 as businesses cut back on investments, while the housing market remained weak. Many economists forecast the U.S. to slip into recession in the next 12 months.

☆ CNBC Daily Open: 10th time's the charm
▼ + stars: | 2023-05-04 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

WASHINGTON, DC - MAY 03: Federal Reserve Board Chairman Jerome Powell arrives to a news conference following a Federal Open Market Committee meeting on May 3, 2023 in Washington, DC. The Federal Reserve announced a 0.25 percentage point interest rate increase bringing the key federal funds rate to more than 5%, a 16-year high. (Photo by Anna Moneymaker/Getty Images)This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ What is the debt ceiling? Why it's important and how it affects you
▼ + stars: | 2023-05-04 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

To avoid that outcome, lawmakers are trying to find a path forward to raise or suspend the debt ceiling, which would enable the U.S. to pay its bills on time. What is the debt ceiling? The debt ceiling is the amount of money the U.S. Department of the Treasury is authorized to borrow to pay the nation's bills. The debt ceiling wouldn't be an issue if U.S. revenues — i.e., tax proceeds — exceeded its costs. Congress can raise or temporarily suspend the debt ceiling in the interim to avert a debt-ceiling crisis — something lawmakers have done many times in the past.

☆ Google employees complain about CEO Sundar Pichai's pay raise as cost cuts hit rest of the company
▼ + stars: | 2023-05-03 | by ( Jennifer Elias | ) www.cnbc.com time to read: +4 min

Google CEO Sundar Pichai speaks at a panel at the CEO Summit of the Americas hosted by the U.S. Chamber of Commerce on June 09, 2022 in Los Angeles, California. (Photo by Anna Moneymaker/Getty Images)Google CEO Sundar Pichai received a hefty pay raise last year, making him one of the highest-paid CEOs in America. SEC filings showed Pichai was paid a total of $226 million last year, mostly through $218 million in stock awards. Twilio CEO Jeff Lawson said he'd also be taking a pay cut amid a 17% workforce reduction. At an all-hands meeting, employees asked Pichai why executives are getting pay cuts if he's taking responsibility.

☆ Nearly 300 Arrested in ‘Dark Web’ Fentanyl Crackdown
▼ + stars: | 2023-05-02 | by ( Sadie Gurman | Dustin Volz | ) www.wsj.com time to read: 1 min

‘There is a bit of a whack-a-mole problem here, and we are whacking as hard as we can,’ Attorney General Merrick Garland said. Photo: Anna Moneymaker/Getty ImagesWASHINGTON—International authorities have shut down an online marketplace and arrested nearly 300 people who allegedly used it and other parts of the so-called dark web to buy and sell fentanyl and other dangerous opioids, in a sweep officials said underscores how hard it is to stem the tide of drug trafficking in the internet’s hidden corners. The operation went on for more than 18 months and spanned three continents, U.S. officials said Tuesday. Law-enforcement agencies also seized more than $53 million in cash and virtual currencies, along with guns and nearly 2,000 pounds of drugs.

☆ The 10 Senate seats most likely to flip in 2024
▼ + stars: | 2023-04-30 | by ( Simone Pathe | ) edition.cnn.com time to read: +19 min

The GOP needs a net gain of one or two seats to flip the chamber, depending on which party wins the White House in 2024, and it’s Democrats who are defending the tougher seats. Jim Justice announcing his Senate bid in West Virginia – the seat most likely to flip party control in 2024. In a presidential year, the national environment is likely to loom large, especially with battleground states hosting key Senate races. Two businessmen with the ability to tap into or raise significant resources could be in the mix – Eric Hovde, who lost the GOP Senate nomination in 2012, and Scott Mayer. Still, unseating Cruz in a state Trump won by nearly 6 points in 2020 will be a tall order.

☆ FAA Acting Chief Billy Nolen to Depart
▼ + stars: | 2023-04-21 | by ( Andrew Tangel | Alison Sider | ) www.wsj.com time to read: 1 min

Billy Nolen has taken himself out of consideration by the White House to fill the job permanently. Photo: Anna Moneymaker/Getty ImagesThe Federal Aviation Administration faces a potential leadership vacuum as its acting chief, Billy Nolen, has decided to leave the U.S. air-safety regulator. Mr. Nolen announced his departure plans Friday in a letter to agency employees. He plans to leave the agency sometime this summer, according to his letter.

☆ House Set to Vote on Transgender Sports Ban
▼ + stars: | 2023-04-20 | by ( David Harrison | Louise Radnofsky | ) www.wsj.com time to read: 1 min

The House transgender sports bill faces dimmer prospects in the Senate, where Democrats hold a majority. Photo: Anna Moneymaker/Getty ImagesThe Republican-controlled House is set to take up legislation Thursday effectively barring transgender girls and women from competing in female event categories in school sports, a vote that is likely to fall along party lines. The bill is unlikely to pass the Senate, where Democrats are the majority. But Thursday’s vote reflects House Republicans’ desire to weigh in on one of the most contentious issues in sports—and culture.

☆ House Approves Transgender Sports Ban
▼ + stars: | 2023-04-20 | by ( David Harrison | Louise Radnofsky | ) www.wsj.com time to read: 1 min

The House transgender sports bill faces dimmer prospects in the Senate, where Democrats hold a majority. Photo: Anna Moneymaker/Getty ImagesThe Republican-controlled House approved a bill Thursday that effectively bars transgender girls and women from competing in female event categories in school sports. The 219-203 vote fell along party lines, with all Democrats present voting against it. The measure is unlikely to pass the Senate, where Democrats are the majority. But Thursday’s vote reflects House Republicans’ desire to weigh in on one of the most contentious issues in sports and culture.

☆ Big tech companies continue cost cutting
▼ + stars: | 2023-04-03 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

Tech companies have chased short-term fads in a desperate attempt to win the favor of Wall Street investors — and it's making the online experience worse. As tech companies continue to focus on efficiency, it's clear that one metric is the most important: revenue per employee. After years of over-hiring, tech companies are now looking to squeeze the most efficient performance from each worker, my colleague Hasan Chowdhury reports. But it's another sign that tech companies are drifting away from pro-remote work policies. Google, Meta, and Microsoft have all failed to make their AR and VR devices into mainstream successes.

☆ Starbucks fires Alexis Rizzo, the Buffalo union worker who 'ignited a movement' to organize
▼ + stars: | 2023-04-02 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Starbucks has fired a Buffalo, New York, worker who “ignited a movement” from one of the first stores in the coffee chain to unionize, Starbucks Workers United said Friday. Alexis Rizzo had been shift supervisor at the Genesee Street store in Buffalo for 7 years, the union said. “This is retaliation at its worst,” a statement from Starbucks Workers United said. Nearly 300 locations have voted to join Starbucks Workers United. “What is outrageous to me is not only Starbucks’ anti-union activities and their willingness to break the law, it is their calculated and intentional efforts to stall, stall and stall,” Sanders said during the hearing.

☆ The Nasdaq 100 just entered a fresh bull market - and a top analyst says tech names look like the new safety trade
▼ + stars: | 2023-03-31 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Those rate forecasts have bolstered tech names, and mega-caps like Apple and Microsoft have pulled the Nasdaq higher. "While it sounds like Twilight Zone comment to many investors, tech stocks have become the new safety trade with Big Tech names a major beneficiary of this dynamic," Ives, a managing director and senior equity research analyst at Wedbush, wrote in a note. "And these tech stocks have been under owned and still remain in that camp in our opinion." Short sellers generated paper profit of $14 billion betting against bank stocks over the last month. Shorting bank names in March produced a "wide swath of profitable trades that returned +17.2% in less than a month," S3 Partners said.

☆ Republicans are starting to split over exactly how — and whether — to ban TikTok
▼ + stars: | 2023-03-30 | by ( Bryan Metzger | Eliza Relman | ) www.businessinsider.com time to read: +7 min

Republicans generally support banning TikTok, but they're beginning to disagree on how. Sen. Rand Paul has also come out against a TikTok ban, blocking a bill from Sen. Josh Hawley. But even among Republicans who favor a TikTok ban, there are growing concerns about the RESTRICT Act — arguably the most prominent proposal put forward to deal with the issue. "So, I think we should ban TikTok. "It's worse than banning TikTok, because it can be applied to lots of other companies," said Paul.

A Manhattan grand jury voted to indict Donald Trump, possibly over a "hush-money" payment. Here's a timeline of Trump and Daniels' alleged relationship, the $130,000 payment to keep Daniels silent, and the testimonies leading to a possible indictment. Markus Schreiber/APManhattan District Attorney Alvin Bragg convened a grand jury in mid-January of this year to consider an indictment against Trump. And Trump's former fixer and lawyer Michael Cohen, prosecutors' key witness, has made repeated visits to the DA's office and to the grand jury. Anna Moneymaker/Getty ImagesThe Manhattan grand jury voted to indict Trump on Thursday, March 30.

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