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☆ UPS profit beats estimates as cost cuts offset weak delivery demand
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: +2 min

United Parcel Service's (UPS) newly launched electric delivery truck is seen in Compton, California, U.S., September 13, 2023. United Parcel Service reported first-quarter profit above estimates on Tuesday as cost cuts partly offset subdued demand for small-package delivery, sending its shares up 3.5% premarket. UPS reported a 3.2% decline in average daily volumes in its domestic segment and a 5.8% drop in its international segment, but said volumes "showed improvement through the quarter". UPS recently secured the contract to provide Priority Mail and other speedy services for the U.S. Its revenue of $21.71 billion was below estimates of $21.86 billion.

Organizations: United Parcel Service, UPS, Teamsters, U.S . Postal Service, FedEx Locations: Compton , California, U.S, Atlanta

☆ Baltimore bridge collapse: City files legal claim against owner, operator of ship that rammed Key Bridge
▼ + stars: | 2024-04-23 | by ( Jillian Sykes | ) edition.cnn.com time to read: +2 min

Atlanta CNN —Baltimore filed a legal claim on Monday against the owner and manager of the ship that crashed into the Francis Scott Key Bridge last month, causing it to collapse. The Dali, a 213-million-pound ship carrying cargo containers, is owned by Grace Ocean Private Limited and managed by Synergy Marine PTE LTD. As this matter is now the subject of active litigation, we will reserve further comment for the appropriate judicial forum,” the Baltimore City Law Office told CNN. Earlier this month, Grace Ocean and Synergy Marine filed a petition in federal court asking for a $43.6 million limit on potential liability payouts. In its Monday court filings, Baltimore asked the court to deny the companies’ petition to limit liability.

Persons: Francis Scott Key, Dali, Grace Ocean, Darrell Wilson, Grace, — CNN’s Gabe Cohen Organizations: Atlanta CNN, Baltimore, Grace Ocean Private Limited, Synergy Marine PTE LTD, Baltimore’s, City Council, CNN, Baltimore City Law Office, Synergy, Grace Ocean, Federal Bureau of Investigation, US Coast Guard Locations: Baltimore

☆ Delta Air Lines gives staff another 5% raise, hikes starting wages to $19 an hour
▼ + stars: | 2024-04-22 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Delta Air Lines jets are seen on a taxiway at Hartsfield-Jackson Atlanta International Airport in Atlanta on Dec. 22, 2021. Delta Air Lines said it is raising staff pay by another 5% this year as the country's most profitable airline prepares for the busy summer travel season. The pay increase, which starts June 1, applies to workers including flight attendants, ground handlers, mechanics and some office workers, among others. Delta raised staff pay by 5% last year and the pay hike unveiled Monday is the third the Atlanta-based carrier has announced since 2022. With the new raises, starting pay at Delta's mainline operation in the U.S. will rise to $19 an hour from $16.55.

Persons: Delta, Ed Bastian Organizations: Delta Air Lines, Jackson Atlanta International Airport, Association of Flight, CWA Locations: Hartsfield, Atlanta, U.S

Charly Triballeau | AFP | Getty ImagesBillionaire donors like Robert Kraft and Leon Cooperman are weighing their support for Columbia University amid rising campus tensions over pro-Palestinian protests. "Columbia is grateful to Mr. Kraft for his years of generosity and service to Columbia," a Columbia spokesperson said in a statement to CNBC. Cooperman and Kraft so far, represent a minority of wealthy Columbia University donors who are speaking out on the protests. CNBC reached out to half a dozen foundations listed by Columbia University as having given at least $1 million to the school since 2014. Students protest in support of Palestinians on Columbia University campus, as protests continue inside and outside the university, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in New York City, U.S., April 22, 2024.

Persons: Bruce A Blakeman, Charly Triballeau, Robert Kraft, Leon Cooperman, Kraft, Nemat, Shafik, Roger Goodell, Austin McAfee, Cooperman, James Gorman, Morgan Stanley, David Greenspan, Leon Cooperman Scott Mlyn, University President Shafik, Caitlin Ochs Organizations: Nassau, Columbia University, AFP, Getty, Columbia, New England Patriots, Georgia World, Center, Kraft Group, Foundation, Combat, Kraft Center for Jewish, The Kraft Group, CNBC, Omega Family, Columbia Business School, Slate, CNBC Columbia Students, Justice, New York Police, NYPD, University President, Students, Columbia University campus, Hamas Locations: New York, Columbia, Gaza, Atlanta, Palestine, Israel, Palestinian, New York City, U.S

Those are some of the most fascinating items found in lost luggage in 2023, according to a new report by Unclaimed Baggage, a store that buys lost items from airlines, sight unseen. The company has long-term contracts to buy unclaimed items from airlines, as well as hotels, trains and rental car companies. Unclaimed Baggage opened a "Found Treasures" museum in Scottsboro, Alabama, in 2023 to showcase the oddest items acquired through the years. Then he found them at Unclaimed Baggage and brought them back to her." Source: Unclaimed Baggage

Persons: Richard Nixon, Louis, Bryan Owens, Cartier, Owens, Owen's, Doyle Owens, Doyle, There's, … we're, Owen, Louis Vuitton, —, …, Jimmy Choo, Yves Saint Laurent —, it's, they've, David Bowie Organizations: Louis Vuitton Nike Air Force, CNBC Travel, Rolex Locations: Scottsboro , Alabama, Scottsboro, America, West Coast, Atlanta

☆ I'm a former JP Morgan exec who now works to distribute basic income payments to those in need. Here's why I do it.
▼ + stars: | 2024-04-22 | by ( Katie Balevic | ) www.businessinsider.com time to read: +4 min

Wole Coaxum is the CEO of MoCaFi, which has distributed over $52 million in basic income payments. I thought, "How can I use my time and talents, which is financial services, to bring an economic justice agenda to the social justice agenda?" Related storyMartin Luther King, Jr. talked about universal basic income and guaranteed basic income just before he passed away, and I feel that we as a company are very fortunate to be standing on the shoulders of others to bring these powerful ideas into the marketplace. Some of them are through MGI, Mayors for a Guaranteed Income. Why is a universal basic income that much different?

Persons: Morgan, —, Wole Coaxum, JP Morgan, Ferguson, Martin Luther King, Jr, they've Organizations: Service, Corporation, JP Locations: Los Angeles, Atlanta, San Francisco, MGI

☆ Travel news: ‘World’s largest wildlife crossing’ being built in Los Angeles
▼ + stars: | 2024-04-20 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +4 min

CNN —In travel news this week: the world’s best and busiest airports, the European capital banning new hotels, the Hawaiian attraction being removed because of bad tourist behavior, plus the real-life animal crossing being built over a California freeway. Snakes will, however, be very welcome on “the world’s largest wildlife crossing,” under construction over the major 101 Freeway in Los Angeles. The Wallis Annenberg overpass will span 10 lanes and provide safe passage for mountain lions, coyotes, bobcats, toads and even ants. World’s best and busiest airportsThe world’s busiest airports were revealed in an annual ranking released Monday, with Atlanta’s Hartsfield-Jackson International holding strong in the No. US National Park Week starts April 20, kicking off with a free entry day on Saturday to all NPS sites.

Persons: Wallis, It’s, Alyssa Kopp, Mary Gomes Kopp, Doha’s, Florence’s, it’s, America’s Organizations: CNN, Aegean Airlines, Atlanta’s Hartsfield, Jackson International, UAE, Qatar, Doha’s Hamad international Airport Locations: California, Tokyo, Osaka, Los Angeles, Crete, Europe, Dubai, Amsterdam, Netherlands, Canary, Spanish, Africa, Italy, Ponte, Lake Mead, Hawaii

☆ Canada’s gold heist: Inside one of the biggest thefts in the annals of crime
▼ + stars: | 2024-04-20 | by ( Ramon Sanchez | Ray Sanchez | ) edition.cnn.com time to read: +13 min

“One which we jokingly say belongs in a Netflix series.”A truck driver with a fraudulent waybill for a seafood shipment picks up the container. Instead of a load of farm-raised seafood, the truck driver pulled away from the loading dock with loot. “They needed people inside Air Canada to facilitate this theft,” Peel Regional Police Det. In its legal response to the Brink’s lawsuit, Air Canada has denied it was “careless” and its security lax. Canadian police had identified him as the truck driver early in the investigation but had not been able to locate him.

Persons: ”, Nishan Duraiappah, Nando Iannicca, Canada “, ” Duraiappah, ’ ” Patrick Brown, –, Mike Mavity, Mavity, couldn’t, “ We’re, ” Mavity, “, it’s, Brink’s, Eric, “ They’re, Nick Milinovich, Duraiappah, CNN’s Paula Newton, Fabiana Chaparro Organizations: CNN, Toronto Pearson International, Air Canada, ” Peel Regional Police, Netflix, Peel Regional Police, Peel, Canadian, CSI, Vancouver Bullion & Currency Exchange, Air, Police, ” Air Canada, Authorities, Alcohol, Tobacco, Firearms, Explosives, ” Police, Investigators, Court, Middle, Middle District of Pennsylvania, ” Peel Locations: Zurich, Switzerland, Canada, Pennsylvania, Florida, Georgia, Brampton, Toronto, Air Canada, United Kingdom, Dubai, India, Franklin County , Pennsylvania, Philadelphia, Middle District, Atlanta

☆ Buy these five stocks ahead of earnings before it's too late, Bank of America says
▼ + stars: | 2024-04-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

CNBC Pro combed through Bank of America research to find the firm's favorite buy-rated stocks ahead of company earnings. They include: CoStar Group, Fidelity National Information Services, Cisco, Home Depot and Adobe. Bank of America upgraded the stock to buy from neutral earlier this week, citing several positive catalysts. "A growth company buying a growth company," he said of the deal. Home Depot "A growth company buying a growth company.

Persons: Tal Liani, Liani, Robert Ohmes, Ohmes, Jason Kupferberg, Kupferberg Organizations: Bank of America, CNBC, Fidelity National Information Services, Cisco, Home, Adobe, Cisco Time, Home Depot, Fidelity National Information, FIS Locations: Bank, Atlanta, buybacks

☆ A low-cost way to protect against further market declines and position for an eventual comeback
▼ + stars: | 2024-04-19 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +3 min

I want to protect further downside in the broader U.S. equity market despite the fact that S & P 500 has had an acute drop of more than 5% off its recent 2024 highs. I do believe that we are still in a bull market, but the headwinds are strong in the current market conditions. .SPX YTD mountain S & P 500 YTD Lastly, markets are contending with corporate earnings season. Per my friends at Factset, the S & P 500's valuation on a forward 12-month P/E ratio is 20.6. DISCLOSURES: (Long this spread) THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY .

Persons: Raphael Bostic Organizations: Treasury, Federal Reserve, Federal Reserve Bank of Atlanta, Big Tech, Trust Locations: Israel, Iran, Factset

☆ Aldi’s ‘aisle of shame’ is a middle row of goodies that have nothing to do with groceries. Shoppers are huge fans of it
▼ + stars: | 2024-04-19 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +10 min

Inside every Aldi store is a single aisle of merchandise that mostly has nothing to do with groceries. The Wednesday rush can often be pinned on die-hard Aldi shoppers, 3 million of whom are members of the very active Aldi Aisle of Shame Facebook page and frequently post about their latest aisle of shame hauls. They know it’s Aldi,” Pratt said. The German Supermarket acquired Winn-Dixie, Harveys Supermarkets and other grocery stores in the Southeast in an attempt to increase its presence in the region. That’s where this aisle of shame fits in and helps Aldi offer its low prices overall.”

Persons: New York CNN — Caitlyn Pratt, Pratt, Aldi’s, who’s, ” Pratt, she’s, “, Caitlyn Pratt, Caitlyn Pratt Pratt, ”, I’ve, Britney Henderson, Britney Henderson Britney Henderson, “ I’m, ” Henderson, Aldi, John Clear, Alvarez, Clear, Jason Hart, Brandon Bell Organizations: New, New York CNN, Walmart, Aldi, CNN, ALDI, Morning, Target, Costco, German Supermarket, Harveys, Products Locations: New York, Heavener , Oklahoma, Arkansas, Iowa, Atlanta , Georgia, It’s, Pflugerville , Texas, Winn

☆ Treasury yields fall as investors weigh economic data, Fed comments
▼ + stars: | 2024-04-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 4.9622% after falling by more than two basis points. U.S. Treasury yields declined on Friday as investors considered the latest economic data and remarks from Federal Reserve officials, and considered what this could mean for monetary policy. Investors digested the latest economic data and remarks from policymakers as they considered the outlook for interest rates. Fed officials have in recent days and weeks indicated that interest rates may remain elevated for longer than previously anticipated. Elsewhere, Atlanta Fed President Raphael Bostic said rate cuts may not come until the end of the year, and that he was "comfortable being patient," while Minneapolis Fed President Neel Kashkari suggested rate cuts may not begin until 2025.

Persons: John Williams, Raphael Bostic, Neel Kashkari, Jerome Powell Organizations: Treasury, U.S, Federal Reserve, New York Fed, Atlanta Fed, Minneapolis, Investors, NBC News Locations: Philadelphia, Israel

☆ Nigeria kidnapping: Chibok girl rescued after 10 years in captivity
▼ + stars: | 2024-04-19 | by ( Stephanie Busari | Michael Rios | ) edition.cnn.com time to read: +3 min

Lagos, Nigeria CNN —The Nigerian army says it has rescued one of the missing Chibok schoolgirls abducted by militant Islamic group Boko Haram a decade ago. But the abduction of the Chibok girls remains the highest-profile example of the group’s targeting of schools. A decade later: Chibok kidnapping survivors tell their storiesSurvivors of the Chibok kidnapping recently shared their harrowing experiences in captivity with CNN on the 10th anniversary of their abduction. One of them Amina Ali, 27, was forced to marry a Boko Haram fighter, spending two years in captivity, before escaping. Ishaya was also reunited with her family in 2017 after spending three years as a “slave,” treating injured Boko Haram fighters.

Persons: Chibok schoolgirls, Lydia Simon, Boko Haram, Haram, “, Amina Ali, Boko, Hannatu Stephen, Ishaya, Stephanie Busari, Michael Rios, Nimi Princewill Organizations: Nigeria CNN —, CNN, Amnesty International, West, Human Rights Locations: Lagos, Nigeria, Borno State, Haram, Islamic State, West African Province, Boko Haram, ”, Nigerian, Kuriga, Sokoto, Atlanta

☆ Mohamed Salah: Jürgen Klopp defends Liverpool star after Europa League exit
▼ + stars: | 2024-04-19 | by ( Ben Church | ) edition.cnn.com time to read: +4 min

CNN —Liverpool manager Jürgen Klopp said he was “disappointed” to see his side knocked out of the Europa League quarterfinals against Atlanta on Thursday, but insisted talisman Mohamed Salah was not to blame. Elsewhere on Thursday, fellow Premier League side West Ham crashed out of the Europa League quarterfinals after losing 3-1 on aggregate to Bayer Leverkusen. English Premier League title raceWith such disappointment in Europe for English clubs, all attention now turns back to the Premier League title race. Klopp, hoping to leave Liverpool with the perfect present of a league title, said his side can now fully focus on the remainder of the campaign. It faces Fulham in its next league game on Sunday.

Persons: Jürgen Klopp, ”, Mohamed Salah, Liverpool couldn’t, Salah, Juan Musso, ” Klopp, “ It’s, Mo, didn’t, that’s, Guglielmo Mangiapane, Klopp, “, Atalanta Organizations: CNN, Liverpool, Europa League, Atlanta, English Premier League, Atalanta, Africa, of Nations, Reuters, Anfield, Premier League, West, Bayer Leverkusen, Arsenal, Manchester City, Champions League, Sunday, Fulham Locations: Italy, Dublin, Ireland, Liverpool, West Ham, Europe, London

☆ From a jar of oysters to two spiders, these are the 10 weirdest things left in Ubers in 2023
▼ + stars: | 2024-04-19 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Every year, Uber publishes a its Lost & Found Index about items left behind by riders. Last year, more people contacted their driver about a lost item on January 21 than on any other day. Here are some of the weirdest items forgotten in Ubers in 2023. 1 item left behind in 2023 in the US, Uber's recap also mentioned some, shall we say, more unique items that drivers discovered last year. ), here are 10 of the weirdest items Uber said riders reported they lost in 2023:

Persons: Uber, —, it's, Taylor Organizations: Service, Jeep Liberty Locations: Ubers, Miami, Jacksonville, Florida, Los Angeles, Atlanta

☆ Giant pandas coming to San Francisco from China
▼ + stars: | 2024-04-19 | by ( Paradise Afshar | ) edition.cnn.com time to read: +2 min

CNN —China will send giant pandas to live at San Francisco’s zoo for the first time, Mayor London Breed has announced. “The memorandum of understanding signed by Mayor Breed and the (China Wildlife Conservation Association) this morning is the first official leased agreement for Giant Pandas to have residency at the San Francisco Zoo,” a media release from the city on Friday reads. “In 1984 and again in 1985, the San Francisco Zoo temporarily hosted Giant Pandas from China as part of a global tour.”In February, it was announced that China would be sending two giant pandas to the San Diego Zoo – marking the first time it has granted new panda loans in the US in two decades, CNN previously reported. The National Zoo was the first US zoo to showcase pandas, and the end of its program had left Zoo Atlanta as the only other US zoo to feature pandas. Fewer than 2,000 giant pandas remain in the wild, according to the World Wildlife Fund, which lists the species as vulnerable.

Persons: Mayor London Breed, Mayor Breed, “, ”, Breed, Xi Jinping, Richard Nixon’s Organizations: CNN, Mayor London, Mayor, China Wildlife Conservation Association, Giant Pandas, San Francisco Zoo, Pandas, San Diego Zoo, Smithsonian National Zoo, Zoo, Zoo Atlanta, World Wildlife Fund Locations: China, Francisco’s, “ San Francisco, Washington, Beijing

☆ A look at Taylor Swift’s economic power ahead of ‘The Tortured Poets Department’ release
▼ + stars: | 2024-04-18 | by ( Bryan Mena | ) edition.cnn.com time to read: +11 min

The commercially successful ‘Eras’ tourThe Eras tour was massively successful in 2023 and it’ll stretch through the end of this year. John Shearer/TAS23/Getty Images Swift performs in Glendale, Arizona, during the opening weekend of "The Eras Tour" in March 2023. John Shearer/TAS23/Getty Images Swift performs during the "Evermore" section of the show in Sydney in February 2024. John Shearer/TAS23/Getty Images Fans apply jewels on their way to Swift's show in Foxborough, Massachusetts, in May 2023. John Shearer/TAS23/Getty Images In pictures: Taylor Swift's 'Eras Tour' Prev NextShe is a generous boss, too, awarding $100,000 bonuses to Eras Tour truck drivers during the summer.

Persons: Washington CNN — Taylor Swift, Swift, It’ll, ” Armen Shaomian, StubHub, “, “ Taylor Swift, hasn’t, SeatGeek, Taylor Swift, Kevin Mazur, Natasha, Ethan Miller, John Shearer, Kevin Winter, Benjamin B, Braun, Jutharat, Phoebe Bridgers, Bridgers, Raymond James, Zack Wittman, Hector Vivas, Don Arnold, TAS24, Rachel Wisniewski, Terence Rushin, Haim, Jeff Kravitz, Erin Clark, Sarah Yenesel, Sabrina Carpenter, Bob Levey, TAS23, Christopher Polk, Allen J, Taylor, ”, that’s, That’s, doesn’t, Barack Obama, Angela Merkel, Pope Francis, ” Swift Organizations: Washington CNN, Poets Department, Fortune, University of South, CNN, Swift City, Pittsburgh, MetLife Stadium, New York Times, Lincoln Financial, Washington Post, Ticketmaster, Boston Globe, Penske Media, Los Angeles Times, Federal Reserve, ” AMC Locations: University of South Carolina, North America, East Rutherford , New Jersey, Chicago, Las Vegas, Nashville , Tennessee, Glendale , Arizona, Glendale, Swift, Los Angeles, Pittsburgh, East Rutherford, Nashville, Tampa , Florida, Mexico City, Kansas City , Missouri, Sydney, Philadelphia, Atlanta, Santa Clara , California, Foxborough , Massachusetts, Coney, Houston, Inglewood , California, Cincinnati, United States, Canada, AMC’s

☆ Opinion: We all lose if the Olympic surveillance state becomes the norm
▼ + stars: | 2024-04-17 | by ( Opinion Jules Boykoff | ) edition.cnn.com time to read: +9 min

He is the author of six books on the politics of the Olympic Games, most recently “What Are the Olympics For?” The views expressed here are his own. France enacted an Olympic Games Law in May 2023 that legalized the use of AI-driven video surveillance this summer and allowed experimentation with intelligent video surveillance until March 31, 2025. The law made France the first nation in the European Union to greenlight biometric surveillance systems. She told me that the Olympic Law “infringes the right to privacy, the right to be anonymous in the streets.”“Everything in this is political,” Levain said. The French Ministry of the Armed Forces unveiled plans to use HELMA-P, an anti-drone laser weapon system prototype, at the Paris Games.

Persons: Jules Boykoff, Emmanuel Macron, Jules Boykoff Jessi, –, ” Noémie, “, ” Levain, ”, Gérald Darmanin, we’ve, Amelie Oudea, Macron, Natsuko Sasaki, Laurent Nuñez, Le, Danielle Simonnet, Thomas Bach Organizations: Pacific University, Olympic Games, CNN, Olympic, Games, ISIS, Stade de France –, Law, European Union, Amnesty International, European Civic Forum, Human Rights, Ministry of, France’s, French Ministry of, Armed Forces, Paris Games, Stade de France, Paris Police, Le Parisien, Paris, Patriotes, Palais Royal, National Assembly, France Insoumise Party Locations: Paris, Palestinian, Atlanta, France, Le, Europe, Moscow

☆ Investing in Trump Media is an 'act of faith,' expert says. Here are some risks involved
▼ + stars: | 2024-04-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

A screen displays trading information about shares of Truth Social and Trump Media & Technology Group outside the Nasdaq MarketSite in New York City on March 26, 2024. The former president is the majority shareholder in Trump Media, which trades under the initials of his name, DJT, on the Nasdaq. "The reason that people own this stock is because, in one way or another, they support Donald Trump," Rekenthaler said. The closest company comparison to Trump Media is Tesla, according to Rekenthaler. Trump Media is currently a $4 million business through social media, he said.

Persons: Donald Trump, Rekenthaler, John Rekenthaler, Tesla, Elon, Trump, FAFSA, Preston D, Cherry, who's, Oprah —, Ted Jenkin, Jenkin Organizations: Truth Social, Trump Media & Technology Group, Nasdaq, Trump Media, Morningstar, Elon Musk, Trump, Securities and Exchange Commission, Finance, Adidas, CNBC FA Council Locations: New York City, Green Bay , Wisconsin, Atlanta

☆ Ashanti and Nelly are engaged and expecting a baby
▼ + stars: | 2024-04-17 | by ( Lisa Respers France | ) edition.cnn.com time to read: +2 min

CNN —Congratulations are in order for singer Ashanti and rapper Nelly. “This new year of my life is such a blessing full of love, hope, and anticipation,” Ashanti, 43, said in a statement to the publication. Ashanti attended the MTV VMA Awards around that time, where Nelly was a scheduled performer. She carried a clutch with a photo of her and Nelly from when they attended the awards ceremony together back in 2003. It wasn’t anything that was planned.”CNN has reached out to representatives for Nelly for additional comment.

Persons: Ashanti, Nelly, ” Ashanti, she’s, Tina Y, Douglas, gasps, Baby Haynes, ”, Cornell Iral Haynes Jr, “, Rasheeda, Kirk Frost, Rasheeda ”, ” Nelly Organizations: CNN, ”, Cornell, MTV, Hop Atlanta

☆ Google restructures finance team as a part of AI shift, CFO tells employees in memo
▼ + stars: | 2024-04-17 | by ( Jennifer Elias | ) www.cnbc.com time to read: +2 min

"The tech sector is in the midst of a tremendous platform shift with Al," Porat wrote in the memo, obtained by CNBC, that was sent to employees in finance. The restructuring will impact finance teams domestically and abroad, including in the Asia Pacific region and Europe, the Middle East and Africa, Porat noted. "Over the past year, we have talked about creating hubs of Fin'ooglers around the world that are vibrant and have a strong culture," Porat wrote. "As we've said, we're responsibly investing in our company's biggest priorities and the significant opportunities ahead," a Google spokesperson told CNBC in an email. WATCH: Google Cloud CEO says company is monetizing AI in a variety of ways

Persons: Ruth Porat, Porat, Sundar Pichai, we've Organizations: Google, CNBC, San Francisco Bay Area Locations: Asia, Europe, East, Africa, Bangalore, Mexico City, Dublin, Chicago, Atlanta, San Francisco Bay, Fin'ooglers

☆ As Civil Rights Era Fades From Memory, Generation Gap Divides Black Voters
▼ + stars: | 2024-04-17 | by ( Maya King | ) www.nytimes.com time to read: +1 min

The front of it reads: “This is why I vote.”Since gaining the legal right, Ms. Green, 88, has participated in every possible election. This November will be no different, she said, when she casts a ballot for President Biden and Democrats down the ticket. While Ms. Green and many older Black voters are set on voting and already have plans in place to do so, younger Black voters, polling and focus group data show, feel far less motivated to cast a ballot for Democrats or even at all. The people that allowed themselves to be beaten,” Ms. Green said of the civil rights movement that ignited her determination to vote in every election. “I think there are some young Blacks who probably feel like it didn’t even happen.”

Persons: Loretta Green, Green, Biden, ” Ms, “ Organizations: Southwest, Black, Blacks Locations: Southwest Atlanta, reassembling, Georgia

☆ Google lays off more employees and moves some roles to other countries
▼ + stars: | 2024-04-17 | by ( Hugh Langley | ) www.businessinsider.com time to read: +3 min

Several teams across Google's finance and real estate units have been affected, according to two current employees, who said staff had been informed of the cuts this week. One said that the affected teams in finance include Google's Treasury, Business Services, and Revenue Cash Operations teams. AdvertisementA Google spokesperson confirmed the cuts but declined to elaborate on the number of affected staff. "As we've said, we're responsibly investing in our company's biggest priorities and the significant opportunities ahead," said a Google spokesperson. They said that impacted employees could apply for open roles inside Google.

Persons: —, Ruth Porat, we've, Sundar Pichai Organizations: Service, Google's Treasury, Business Services, Cash, Business, Google, BI Locations: Bangalore, Mexico City, Dublin, India, Atlanta

☆ Fed Chair Powell hints at no interest rate cut in May, keeping rates higher for longer
▼ + stars: | 2024-04-16 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Interest rates are currently nestled at a 23-year high after the Fed launched an aggressive rate-hiking campaign two years ago. Inflation is down considerably from a four-decade peak reached in the summer of 2022, but recent inflation reports have shown persistent price pressures in services and housing. First rate cut in the summer? Wall Street already wasn’t betting on a rate cut in May, but some analysts are estimating the first cut could come some time in the summer. Analysts at Goldman Sachs, JPMorgan and Nomura are estimating a first rate cut in July.

Persons: Jerome Powell, “, Powell, ”, ” Quincy Krosby, don’t, hasn’t, Goldman Sachs, Philip Jefferson Organizations: Washington CNN, Federal, Wilson, Fed, Congress, LPL, Atlanta Fed, Goldman, JPMorgan, Nomura, Bank of America, Barclays, Deutsche Bank, ” Locations: Wells Fargo, rebalance

☆ World's busiest airports show surge in international travel. Here are the rankings
▼ + stars: | 2024-04-15 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Dubai International Airport ranked as the second busiest in 2023, up from fifth place in 2022 and fourth place in 2019, according to Airports Council International's preliminary ranking, which was released on Monday. The resurgence of international travel has been a bright spot for airlines with big international networks, while ultra-low-cost, domestic-focused U.S. airlines have struggled in recent months. Domestic U.S. airports continued to post big gains in passenger counts, but some slipped in the rankings compared with the middle of the pandemic, when international travel restrictions limited long-haul trips abroad. Hartsfield-Jackson Atlanta International Airport, Delta Air Lines ' biggest hub, once again topped the list of the busiest airports, serving 104.7 million passengers, ACI said. Here are the 2023 rankings (with 2022 rankings in parentheses):

Organizations: British Airways Airbus, Heathrow Airport, Dubai International Airport, International Airport, Global, ACI, Domestic U.S, Airport, United Airlines, Hartsfield, Jackson Atlanta International Airport, Delta Air Lines Locations: London, Britain, Tokyo, Denver, United, ACI's

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