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Some employees criticize lavish spending on events, while Spotify is trying to cut costs. Some employees think Spotify is spending too much on parties and events, especially when the company is laying off thousands of people and looking to cut more costs. However, these employees said event spending has gone too far, given the company's broader efforts at frugality. One former employee described it as the company "spending tons of money flying people to Sweden to drink the Kool-Aid." Noam Galai/Getty ImagesSome of this lavish event spending is focused on solving a problem that's loomed over Spotify for years.
Persons: , Sam Smith, Charli XCX, Gunna, Daniel Ek, Ek, Daniel Ek Dave Benett, Diplo, Spotifest, Melanie Stetson Freeman, it's, Alicia Keys, Noam Galai, Gustav Söderström Organizations: Spotify, Service, Ikea, Business, Brooklyn, Spotifest, Christian Science, Getty, company's, Apple, YouTube Locations: Drumsheds, Houston, Stockholm, New York, Sweden, New York City, York
New York CNN —Boeing has achieved the unthinkable this week: It managed to fall even deeper into crisis. It ultimately approved the planes for shipments to airlines in March 2023 after becoming satisfied that Boeing had fixed the problem. Then, during the first weekend of 2024, part of an Alaska Airlines 737 Max blew off the side of the plane just after take-off, and Boeing has been in crisis mode ever since. In February, pilots on a United Airlines 737 Max reported that the flight controls jammed as the plane landed in Newark, New Jersey. The FAA is allowing the planes to continue flying and Boeing said the problem does not pose an immediate safety risk.
Persons: Sam Salehpour, Salehpour, McDonnell Douglas, Max, Boeing hasn’t, Dave Calhoun, Mike Whitaker, Whitaker, What’s, Boeing’s, Airlines, hasn’t Organizations: New, New York CNN, Boeing, US Federal Aviation Administration, FAA, New York Times, Alaska Airlines, National Transportation Safety Board, United Airlines, Airbus, Airlines Locations: New York, Newark , New Jersey
The Federal Aviation Administration is investigating claims made by a Boeing engineer who says that sections of the fuselage of the 787 Dreamliner are improperly fastened together and could break apart mid-flight after thousands of trips. The engineer, Sam Salehpour, who worked on the plane, detailed his allegations in interviews with The New York Times and in documents sent to the F.A.A. A spokesman for the agency confirmed that it was investigating the allegations but declined to comment on them. The fuselages for the plane come in several pieces, all from different manufacturers, and they are not exactly the same shape where they fit together, he said. Boeing concedes those manufacturing changes were made, but a spokesman for the company, Paul Lewis, said there was “no impact on durability or safe longevity of the airframe.”
Persons: Sam Salehpour, Salehpour, Paul Lewis Organizations: Federal Aviation Administration, Boeing, New York Times
CNN —Federal authorities say they’re investigating Boeing after a whistleblower repeatedly raised concerns with two widebody jet models, and claimed the company retaliated against him. Whistleblower Sam Salehpour, a Boeing engineer, alleges that Boeing took shortcuts when manufacturing its 777 and 787 Dreamliner jets, and that the risks could become catastrophic as the airplanes age. His formal complaint to the Federal Aviation Administration, filed in January and made public on Tuesday, is not specific to the newer 737 Max jet that has been grounded twice by the Federal Aviation Administration. In response to the complaint, the FAA said it investigates all whistleblower complaints. “Voluntary reporting without fear of reprisal is a critical component in aviation safety,” the FAA said.
Persons: Sam Salehpour, Organizations: CNN, Federal, Boeing, Federal Aviation Administration, FAA
A whistleblower has come forward with allegations about the safety of at least 1,400 Boeing planes. He said production shortcuts have led to misaligned fuselages on Boeing 777 and Boeing 787 jets. AdvertisementAnother Boeing whistleblower has come forward with concerns over one of the planemaker's family of passenger jetliners, pointing to safety concerns in at least 1,400 widebody airplanes. He noted his concerns about the 787 and 777 airplanes were backed by Boeing data but that his complaints were ignored. "This analysis has validated that these issues do not present any safety concerns, and the aircraft will maintain its service life over several decades."
Persons: misaligned, , Sam Salehpour, Salehpour, Max, I'm Organizations: Boeing, Service, New York Times, FAA, BI, Times, Alaska Airlines
CNN —More than 200 artists, including Billie Eilish, Kacey Musgraves, J Balvin, Ja Rule, Jon Bon Jovi, The Jonas Brothers, Katy Perry, Miranda Lambert and more, are speaking out against artificial intelligence-related threats in the music industry. The letter highlights AI threats including deepfakes and voice cloning, as well as “irresponsible uses of AI” such as the using AI sound to diminish royalty payments to artists and the use of musical works by AI developers without permission to train and produce AI copycats. “Unfortunately, some platforms and developers are employing AI to sabotage creativity and undermine artists, songwriters, musicians and rightsholders.”The letter urges digital music platforms and services to pledge to protect artist. “We must protect against the predatory use of AI to steal professional artists’ voices and likenesses, violate creators’ rights, and destroy the music ecosystem,” the letter says. In a statement, the executive director of the ARA, Jen Jacobsen, said the threats of artificial intelligence are worsening already-tough working conditions for artists.
Persons: Billie Eilish, Kacey Musgraves, J Balvin, Jon Bon Jovi, Jonas, Katy Perry, Miranda Lambert, , , Billy Porter, Camila Cabello, Chuck D, Darius Rucker, Finneas, Jon Batiste, Julia Michaels, Kate Hudson, Kim Petras, Mumford, Nicki Minaj, Norah Jones, Pearl, Sam Smith, Sheryl Crow, Smokey Robinson, Stevie Wonder, Zayn Malik, Bob Marley, Frank Sinatra, Jen Jacobsen, ” Jacobsen, Tyler Perry, OpenAI’s, ” Sora Organizations: CNN, Rights Alliance, Sons, ARA, SAG, WGA Locations: Atlanta
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're going through a 'digestive phase' right now in tech, says CFRA's Sam StovallSam Stovall, CFRA Research chief investment strategist, joins 'Squawk Box' to discuss the latest market trends, why he believes the S&P 500 is getting increasingly vulnerable to a meaningful sell-off, tech sector performance, the Fed's interest rate outlook, and more.
Persons: CFRA's Sam Stovall Sam Stovall Organizations: CFRA Research
It is time for investors to buckle up as a strong first quarter could be followed by a frightful year, according to CFRA's Sam Stovall. .SPX 1D mountain S & P 500 History shows investors should expect volatility can continue, according to Stovall. A strong first quarter typically suggests a good second quarter, the strategist found. After 13 of those 15 strongest first quarters, the S & P 500 registered "intrayear" declines of 5% or more. "So, in other words, this strong start implies a frightful yet fulfilling full-year performance for the S & P 500," he said.
Persons: Sam Stovall, Stocks, Stovall, CNBC's, Organizations: Fed
How to Use Up Those Easter Eggs
  + stars: | 2024-03-31 | by ( Sam Sifton | ) www.nytimes.com   time to read: +1 min
I had a lovely run of Brooklyn sandwiches going, before work, school and Easter intervened to send me back to the kitchen. A colossal roast beef, fried eggplant and mozzarella hero from Defonte’s in Red Hook, with hot peppers, gravy and mayonnaise. (A few years ago, I ginned up a recipe for the roast beef hero from Defonte’s.) But today is Easter, and not really a day for sandwiches — unless they’re ham ones on little potato rolls, with strong mustard, to eat in a side yard in the chill while children run around looking for hidden eggs. I want to make deviled eggs (above) to celebrate the holiday puckishly, or maybe a big egg salad to serve in lettuce cups.
Persons: Easter Locations: Brooklyn, Saigon, Ba, Sunset Park, Defonte’s, Red Hook, Taku, Greenpoint, Kings County
Wall Street could be in for another solid quarter as stocks have embarked on a strong start to the year. Specifically, in the second quarter, the S & P 500 was higher 9 out of 11 times, averaging a 2.7% gain. Significantly, two occurrences of those 10% first-quarter gains Detrick reviewed took place during election years, with the S & P 500 ending higher on the year. In 1976, the S & P 500 went on to register a 1.5% increase in the second quarter, and a 4.6% jump for the rest of the year. The Wall Street firm maintained its year-end S & P 500 target of 5,050, representing a 3.8% slide from Wednesday's close.
Persons: Ryan Detrick, We've, there'd, Detrick, CNBC's, Research's Sam Stovall, Stovall, Piper Sandler, Craig Johnson, Brian Nick, Nick, John Stoltzfus, Ayako Yoshioka, Yoshioka, CFRA's Stovall, FactSet Organizations: Nvidia, VanEck Semiconductor, Dow Jones, Carson Group, Macro, PMI, Manufacturing, ADP, Survey, Services PMI, Weston Holdings, Conagra Brands, Consumer Credit Locations: U.S
The Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Friday, Feb. 16, 2024. Kosuke Okahara/Bloomberg via Getty ImagesAsia-Pacific markets were set to fall Tuesday as the U.S. market took a breather following a rally sparked by optimism over the Federal Reserve's interest rate stance at its latest meeting. "We're coming off of a post-FOMC high," he told CNBC, referring to the U.S. Federal Reserve's Federal Open Market Committee meeting last week. "The market is getting more and more vulnerable to a market decline or a pullback in prices." Investors in Asia also await economic data out of Southeast Asia, including Singapore's manufacturing output and Thailand's trade balance.
Persons: Kosuke Okahara, Sam Stovall Organizations: Tokyo Stock Exchange, Japan Exchange Group Inc, Bloomberg, Getty Images, Federal, CFRA Research, CNBC, U.S, U.S . Federal Locations: Tokyo, Japan, Getty Images Asia, Pacific, U.S, U.S ., Asia, Southeast Asia
Practice Makes Perfect Biscuits
  + stars: | 2024-03-24 | by ( Sam Sifton | ) www.nytimes.com   time to read: +1 min
If you make biscuits (above) today — and you ought to — they ought to be terrific. But if you make biscuits today and do so again next weekend and the weekend after and the weekend after that, they will be terrific, the best biscuits ever. This is a matter of practice related to what martial artists call kata — a set pattern that rewards repetition with excellence. The same goes for pizza dough — whether for pan pizza, Neapolitanish pizza or Chicago tavern-style pizza. “You’ve got to keep your hands in the flour,” the pizza lord Anthony Falco once told me, a reminder to always be making pizza dough, to be attuned to its particulars, to keep up the practice.
Persons: “ You’ve, Anthony Falco Locations: Chicago
A New York man filed a $15 million lawsuit against Burger King. Related storiesIt is not cheap to open and operate a Burger King franchise. Burger King started closing early, so they went to 7/11. A retailer on the same street as the Burger King shared similar thoughts, saying the loiterers are "everywhere." BI was unable to reach the franchise owner of the Burger King for comment.
Persons: Burger King, , Kevin Kaufman, Burger, they've, loiterers, George, Sam, raff, Joe Organizations: Service, Yorker, Business, Fulton Street, New York Post, Trade, Burger King, BI Locations: York, Manhattan
Rob Lowe somehow just turned 60
  + stars: | 2024-03-17 | by ( Dan Heching | ) edition.cnn.com   time to read: +1 min
CNN —Rob Lowe turned 60 years old on Sunday, and literally, we can’t believe it. The “West Wing” star marked the occasion on his Instagram with a high-speed, 30-second selfie montage set to “Glory Days” by Bruce Springsteen, among other posts. Amanda Edwards/Getty ImagesThose 1983 flicks launched him into stardom, and Lowe’s crowning act as a pack member came in 1985’s “St. Elmo’s Fire,” in which he delivered an ultimately dramatic turn as bad boy gone good Billy. “Here’s to another 60 years,” he wrote in the caption.
Persons: Rob Lowe, Bruce Springsteen, Lowe –, ” Rob Lowe, Amanda Edwards, Billy, Chris Traeger, Sam Seaborn, “ Here’s, , Organizations: CNN, DIRECTV, Getty, Recreation Locations: Spago, Beverly Hills , California, Elmo’s, “ Parks
A Rich Braise From a Cheap Cut
  + stars: | 2024-03-17 | by ( Sam Sifton | ) www.nytimes.com   time to read: 1 min
I like corned beef and cabbage myself for the holiday — Irish American food to ship up to Boston with, soda bread on the side. For you, then, this incredible bourbon-braised beef (above) that Vallery Lomas developed for us. The whiskey adds a fantastic complexity to a cheap cut of boneless beef chuck burbled with maple syrup, caramelized tomato paste, thyme, bay leaves and hints of both soy sauce and lemon juice. It’s as Irish as Carmela Soprano, but I’d serve it to your ma tonight with no misgivings. (Save the leftover braising liquid to make French onion soup.)
Persons: Patrick’s, that’s, Vallery Lomas, Carmela Soprano Organizations: Irish Locations: Boston
Your Grilled Cheese Needs Toum
  + stars: | 2024-03-10 | by ( Sam Sifton | ) www.nytimes.com   time to read: +1 min
I’m embracing nostalgia today, luxuriating in memories of a Brooklyn I never experienced, even though I’m borough-raised. And for dinner beforehand, maybe Chinese roast pork on garlic bread? For Ham El-Waylly, nostalgia is a grilled cheese sandwich slathered with toum (above), a sauce made by combining garlic, lemon juice, salt and oil. The mixture is one that recalls the akkawi cheese manakeesh sandwiches he used to consume as a teenager in Doha, Qatar. The toum packs a wallop, as if you’d stuffed garlic bread with Muenster.
Persons: Ham Locations: Brooklyn, I’m, Coney, Ebinger’s, Doha, Qatar
Stocks retreated on Friday, closing out a turbulent week as Nvidia 's incredible run took a breather. The broad S&P 500 pulled back by 0.26% this week, while the blue-chip Dow and tech-heavy Nasdaq fell 0.93% and 1.17%, respectively. That decline marked the worst week for the 30-stock Dow since October. The artificial intelligence darling finished down more than 5% in its worst session since late May. Despite that breather, Nvidia shares still finished up more than 6% on the week.
Persons: Stocks, Sam Stovall, We've Organizations: Nvidia, Nasdaq, Dow Jones Industrial, Dow, CFRA Research
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market is due for some sort of digestion of gains, says CFRA's Sam StovallSam Stovall, CFRA Research chief investment strategist, joins 'Squawk Box' to discuss the latest market trends, state of the economy, the Fed's interest rate outlook, and more.
Persons: CFRA's Sam Stovall Sam Stovall Organizations: CFRA Research
The discombobulating outfit was, in fact, the opening look of Vivienne Westwood’s Fall-Winter 2024 show in Paris — a collection that has proved divisive online. “Vivienne Westwood will be turning in her grave watching Sam Smith in this get up,” wrote one disgruntled fan on X. While many online lamented how Kronthaler’s latest season has “defiled” and “tainted” Westwood’s fashion reputation. The 1990s era of Vivienne Westwood was defined by shape and silhouette, as demonstrated here with Linda Evangelista walking the Fall-Winter 1995 show in Paris. Kronthaler's first solo show for Vivienne Westwood at Paris Fashion Week felt more aligned with the brand's popular 90s silhouettes.
Persons: Sam Smith, trudging, fanny, Mel Gibson’s, Vivienne Westwood’s, Andreas Kronthaler, , Pascal Le Segretain, Vivienne Westwood, Alexander McQueen, John Galliano, Gen, , Linda Evangelista, PL, Kronthaler, Kate Moss, , Vivienne Westwood's, Giovanni Giannoni, Bella Hadid, Kronthaler's Organizations: CNN, Westwood, PL Gould, Vogue, Penske Media, Paris Fashion, Financial Times Locations: Paris, Sharpie
Go Big With Bibimbap
  + stars: | 2024-03-03 | by ( Sam Sifton | ) www.nytimes.com   time to read: +1 min
On Sunday, I like a project in the kitchen more than on any other day. It’s a chance to work at the stove without the need to get something on the table in 45 minutes, a time to stretch my skill set. Vivian Chan’s new recipe for bibimbap (above) suits beautifully. The dish traces its history to the last dynastic kingdom of Korea, the Josean, which lasted 500 years. It’s a showstopper of a meal with loads of components: a flavorful mixture of rice topped with bulgogi, shiitake mushrooms, bean sprouts, spinach, carrots and cucumbers, drizzled with a spicy gochujang sauce.
Persons: It’s, Vivian Chan’s Locations: Korea
Seasonally speaking, stocks could be in for a pullback as the calendar turns to March in a presidential election year. In every March since 1950, the S & P 500 historically rises 1.1%, but the same month in presidential election years scores a smaller 0.4% advance on average. Currently, the S & P 500 is trading around the 5,100 level. But Hirsch advised investors to watch S & P 500 support levels closer to 4,800, the prior all-time high, or 4,600, the high from the summer of 2023. That's because Hirsch anticipates the S & P 500 will rise to 5,500 by year end, so any dips may prove a buying opportunity for investors.
Persons: Jeffrey Hirsch, Russell, Hirsch, it's, you've, , Hirsch isn't, Katie Stockton, Sam Stovall, Stovall Organizations: Dow Jones Industrial, Nasdaq, CFRA Research
The S & P 500 is ending February with a gain of almost 5%. S & P 500: Four big months November: up 8.9% December: up 4.4% January: up 1.6% February: up 4.6% The November gain of 8.9% was one of the 20 best monthly performances in history. The S & P has advanced about 5% since passing the old January 2022 historic high, which it crossed on Jan. 19, this year. Put another way: the S & P has recovered all the bear market losses from the old high in January 2022 to the bear market bottom in October 2022, and added another 5%. "Yet it also offers encouragement that no post-recovery selloff saw the start of a new bear market before rebounding and proceeding onto additional new highs."
Persons: Steve Starker, Todd Sohn, Eli Lilly, Nicholas Colas, Sam Stovall Organizations: Nvidia, P, Technology, Services, Care, Broadcom, Communication Services, Meta, Health Care, Merck, Depot, Costco, JPMorgan, Mastercard, Berkshire Hathaway, Research Locations: BTIG
Just last week the S&P 500 hit a new all-time high and notched its best showing in a year. But this nearly unprecedented surge in the markets is sparking some concern over what’s driving the rally and whether it can continue. The S&P 500 and Dow last week each reached record levels after blockbuster earnings from the chipmaker set off a broad market rally. The S&P 500 is up more than 6% for the year, but when you equally weigh all of the stocks in the index, it’s up just 2.5%. Last year, the S&P 500 rose by 24.2%, but the equally-weighted index was up by just 11.6%.
Persons: Sam Stovall, Tesla, Jamie Dimon, ” Dimon, CNBC’s Leslie Picker, That’s, , What’s, Warren Buffett, Berkshire Hathaway, Eva Rothenberg, Buffett, Gary Pilnick’s, WK Kellogg, Pilnick, Bran, ” Pilnick, hasn’t, Carl Quintanilla Organizations: CNN Business, Bell, New York CNN —, Nvidia, Dow, Nasdaq, Health, Tech, Deutsche Bank, Microsoft, Apple, Amazon, Google, JPMorgan, Federal Reserve, Traders, PCE, Berkshire, CNBC Locations: New York, Berkshire, Omaha , Nebraska, Omaha, United States
New York CNN —Former President Donald Trump is once again warning the stock market is doomed unless voters return him to the White House. He went on to say a loss for him would spark “the largest stock market crash we’ve ever had.”But there is no evidence to support that claim. “This is just an encore presentation of what he said last time,” said Art Hogan, chief market strategist at B. Riley Financial. In fact, the stock market has generated higher annual returns when Democrats are in power. It’s true that Trump’s surprise victory in November 2016 helped spark an impressive rally in the stock market as investors bet on deregulation, tax cuts and infrastructure.
Persons: Donald Trump, Trump, you’re, ” Trump, , Brian Gardner, “ There’s, ” David Kelly, , Kelly, Joe Biden, Biden, Hogan, ” Sam Stovall, he’s, “ It’s, Dow, ” Kelly, Gardner, James Singer, CNN it’s “, ” Singer, Jerome Powell —, Powell, Jerome Powell, Greg Valliere, Trump’s Organizations: New, New York CNN, CNN, White, Trump, Asset Management, Dow, Riley, CFRA Research, GOP, , Nasdaq, Federal Reserve, JPMorgan, Biden, Republicans, Democrat, Research, , Republican, AGF Investments Locations: New York, Washington, Trump, China
AdvertisementWalmart would not provide details on its points-based attendance system to Business Insider. AdvertisementSimilar to Walmart's policy, Amazon uses a points-based attendance system that could land employees in hot water if they hit eight points in a rolling 60-day period, according to the company. Many companies, including mid-size ones, have started to implement a points-based system to track lateness and absences, Zambrano noted. Amazon disputed the description of its points-based attendance system as totally "automated." "The attendance system works very similar to a standard time clock system," Stephenson, Amazon's spokesperson, told Business Insider.
Persons: Ron Zambrano, Zambrano, Lizzo, Nick Yasman, Yasman, Kelly Hellbusch, Hellbusch, Julio Cortez, Sam Stephenson, Stephenson, There's, Patricia Caputo, " Caputo, Caputo, Artur Widak, Amazon, Caputo wasn't, Mekaliah Torres, Torres, David Wagner, Wagner, Larreon Murphy, Murphy, they're, Elizabeth Gedmark, Gedmark Organizations: Walmart, Trial, Amazon, Business, West Coast, Lawyers, Employees, West Coast Trial, AP, United, Zambrano , West, California's Kern County Superior Court, Superior Court, California's Riverside County Superior Court, California's Sacramento County Superior Court Locations: California, Amazon, New York, Zambrano ,, California's Kern County, California's Fresno, California's Riverside County, California's Sacramento County
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