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Core inflation rose 0.3% in August, slightly above economists' expectations. Meanwhile, investors dashed their hopes for a 50 basis point rate cut from the Fed next week. AdvertisementUS stocks traded mixed on Wednesday as investors took in last month's inflation report, which showed an unexpected increase in the monthly core consumer price index. Bond yields rose as traders readjusted expectations for a jumbo rate hike of 50 basis points at next week's Federal Open Market Committee meeting. AdvertisementThe surprise increase led investors to almost completely discount the possibility of a 50 basis point rate cut at the Fed's next policy meeting.
Persons: , Josh Jamner, Jack McIntyre Organizations: Fed, Service, Dow Jones, ClearBridge Investments, Brandywine Global Locations: Here's
Commerzbank shares jumped on market open on Wednesday, after Italian bank UniCredit acquired a 4.5% stake in the Frankfurt-based lender from the German government. Commerzbank stock was up 17.5% at 9:37 a.m. London time. The stake acquisition marks the first step in Berlin's exit from its position in the German lender. The German government said it had sold around 53.1 million shares — or a roughly 4.49% tranche out of its 16.49% total shareholding — in Commerzbank for roughly 702 million euros ($775 million) to UniCredit. Also on Wednesday, the German lender said Commerzbank chief Manfred Knof will fulfil but not seek to renew his term after the end of his contract in December 2025.
Persons: Commerzbank, Eva Grunwald, UniCredit, Manfred Knof Organizations: UniCredit, Bank, CNBC Locations: Frankfurt, London, Commerzbank, Berlin, Milan
As a startup founder, no day is exactly the same. This is a relatively new part of her daily routine, and something she used to think was "impossible" to make time for as a startup founder. A typical day: Communicating with customers, paring down meetings, and saving admin for the eveningA chunk of Jiang's day consists of interacting with Peek customers via WhatsApp chat. In general, she says she has "way fewer meetings" as a startup founder than she did in the corporate world. Jiang and her partner, who is also a startup founder, also block out one night a week — Thursday — to set work aside and "just hang out," she said.
Persons: , Sherry Jiang, Jiang, Peek, I'm, she's, they're, I've, Sherry Jiang Jiang Organizations: Service, Google, Business, Vally, Peek, Singapore, UC Berkeley, Amazon, LinkedIn Locations: Singapore, West Coast, Asia
CNN —Tom Cruise pulled off an impressive stunt at the Paris Olympics closing ceremony for which he was compensated by… thrill? “We’ll do the thing that the LA with the Hollywood sign, he’ll hand the thing off and done. About five minutes into the presentation [Tom Cruise] goes ‘I’m in. He landed in LA at 4 a.m. and filmed the scene where he pulls onto a military plane,” Wasserman recalled. Then he helicoptered from Palmdale to the Hollywood sign, filmed from 1 until 5, helicoptered to Burbank Airport and flew back to London.”Mission accomplished.
Persons: Tom Cruise, Casey Wasserman, Cruise, Los Angeles Mayor Karen Bass, Simone Biles, ” Wasserman, Wasserman, , we’ll, I’m, ” Cruise Organizations: CNN, Paris, Paralympic Games, Stade du, Los Angeles Mayor, Hollywood, CNBC, Burbank Airport, Locations: Stade du France, Los, Paris, Los Angeles, London, LA, Palmdale
Let me ask you something: Have you noticed that engagement bait questions are taking over your Threads feed? AdvertisementOn a side note, rage bait is having a moment right now. Related storiesThis kind of rage bait is effective and largely harmless. I played around with engagement bait because I'm a tech journalist who writes about social media platforms and am curious about how Threads works. For now, I promise no more rage bait.
Persons: I've, retweets, Ellen Oscar selfie, vapid, vloggers, I'm, It's, it's, they've, Beskostõi, baiters Organizations: Service, Elon Twitter, New, Facebook, Meta Locations: Cleveland, Upstate New York, New York City, Estonia, Instagram
Miami-Dade County Police on Tuesday identified the officer placed on leave following the detainment of Miami Dolphins wide receiver Tyreek Hill over alleged careless driving and failure to wear a seatbelt. Hill was accused of the violations that carry penalties of $179 for careless driving and $129 for failing to wear a seat belt, copies of the tickets showed. The alleged violations took place Sunday at about 10:40 a.m. on westbound Northwest 199 Street while Hill was behind the wheel of a 2018 black McLaren, the citations showed. The Dolphins have decried the detainment of their star wideout, calling it "despicable behavior" and a use of "misguided power.”Both citations were signed by an officer “M. Hill told NBC News on Monday that he as wearing his seatbelt while driving and then took it off as he was being pulled over.
Persons: Hill, Danny Torres, Torres, McLaren, bodycams, “ M, Batista Organizations: Miami, Dade County Police, Miami Dolphins, NBC News, Dolphins, NBC Locations: overreacting
A Delta aircraft clipped the tail of another plane Tuesday morning at an Atlanta airport. Video taken at the airport appears to show the Endeavor plane with its tail hanging off the side of the aircraft. There are no reports of injuries and maintenance crews are evaluating for damage, Delta Air Lines said. The Delta flight was headed to Tokyo and the Endeavor Air flight to Lafayette, Louisiana. A damaged Endeavor Air plane on the tarmac at Hartsfield-Jackson Atlanta International Airport after a collision Tuesday.
Persons: Delta, Ronald Reagan, Nathan Pike Organizations: Delta, Hartsfield, Jackson Atlanta International, Endeavor Air, Federal Aviation Administration, Endeavor, Delta Air Lines, Ronald Reagan Washington National Airport, JetBlue, Southwest Airlines, NBC News, American Airlines, FAA Locations: Atlanta, Tokyo, Lafayette , Louisiana, Ronald Reagan Washington
Almost half the population of East Timor, the most Catholic nation outside Vatican City, attended a Mass presided over by Pope Francis on Tuesday on the third leg of his Asia trip. An estimated 600,000 people packed the seaside park of Tasitolu near the capital, Dili, the Vatican told reporters, citing local authorities. But the Vatican has also admitted it concealed sexual abuse by members of the clergy in East Timor, including key figures in the independence movement. Francis, 87, is the first pope to visit East Timor since it became an independent state in 2002. “We have the opportunity to see the pope face to face.”The Mass was held at the same site where St. John Paul II, the last pope to visit East Timor, celebrated a historic liturgy in 1989.
Persons: Pope Francis, Francis, “ Viva, Francisco, , Lucrecia Nono, , John Paul II, John Paul Organizations: Vatican City, Vatican, Catholic Locations: East Timor, Vatican, Asia, Tasitolu, Dili, Indonesia, Papua New Guinea, Singapore
A SpaceX capsule carrying four private citizens blasted off early Tuesday on a five-day mission that is set to include the first spacewalk carried out by an all-civilian crew. The mission, known as Polaris Dawn, lifted off at 5:24 a.m. ET from Launch Complex 39A at NASA’s Kennedy Space Center in Florida. Isaacman, who previously funded and took part in the first all-civilian SpaceX mission to orbit in 2021, is bankrolling the Polaris Dawn mission in partnership with SpaceX. As such, all four astronauts will wear and test newly designed spacesuits during the spacewalk.
Persons: Polaris Dawn, Jared Isaacman, Scott “ Kidd ” Poteet, Sarah Gillis, Anna Menon, Isaacman, Gillis Organizations: SpaceX, Polaris, NASA’s Kennedy Space Center, Space, Air Force Locations: Florida
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. The Investing Club portfolio has lots of exposure to the AI buildout through its investments in Eaton , Dover , Broadcom and Nvidia , among others. Club stock Wells Fargo was being painted with a broad brush, falling 2%. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Stocks, Wells Fargo, Wells, Jim, that's, Analysts, Goldman Sachs, Jim Cramer's, DOV, AVGO Organizations: CNBC, Oracle, Broadcom, Nvidia, Apple, Bank, JPMorgan, Club, Wells, Costco, Redburn, Johnson Locations: Eaton, Dover, Wells Fargo, NVDA
Their week-long mission, called Polaris Dawn, is fully private with no NASA involvement — but it's no billionaire joyride. The Polaris Dawn spacewalk planThe spacewalk procedure begins 48 hours before opening the Crew Dragon's hatch, with a "pre-breathe." Polaris Dawn crew members train to recognize symptoms of complications from decompression. The Polaris Dawn crew will have to open Dragon's nosecone with no airlock to keep its cabin pressurized. Polaris Program via XThe risks and stakes are highThe Polaris Dawn spacewalk plan — no airlock, vehicle fully open to space — is not totally unprecedented.
Persons: , joyride, Elon Musk's, It's, Jared Isaacman, Anna Menon, Sarah Gillis, Scott Poteet, haven't, Leroy Chiao, Chiao, John Kraus, Isaacman, Gillis, — Menon, Poteet, Mike Hopkins, NASA Abhi Tripathi, Tripathi, Menon, Bill Gerstenmaier Organizations: Service, SpaceX, Business, Polaris, NASA, Elon, Air Force, Wednesday, Polaris Program, Space Station, Reuters, UC Berkeley's Space Sciences Laboratory Locations: Mars, West Coast, Hawthorne , California
Europe's top court on Tuesday ruled against Apple in the tech giant's 10-year court battle over its tax affairs in Ireland. The pronouncement from the European Court of Justice comes hours after Apple unveiled a swathe of new product offerings, looking to revitalize its iPhone, Apple Watch and AirPod line-ups. In 2014, the European Commission, the European Union's executive arm, opened an investigation into Apple's tax payments in Ireland, the tech giant's headquarters in the EU. Apple and Ireland appealed the Commission's decision in 2019, and in 2020 the EU General Court sided with the U.S. tech giant. The EU's second-highest court anulled the Commission's 2016 decision and said that the executive arm did not prove that the Irish government had given Apple a tax advantage.
Organizations: Apple, European Court, Apple Watch, CNBC, European, Reuters, European Commission, EU, The, Ireland, U.S Locations: Ireland, U.S, London, Dublin
Two Delta jets collided on an airport taxiway Tuesday, the airline said. Photos on X showed major damage to the tail section of one of the planes. Go to newsletter preferences Thanks for signing up! AdvertisementTwo Delta Air Lines jets collided on a taxiway at Georgia's Hartsfield-Jackson Atlanta International Airport on Tuesday morning, knocking a chunk of the tail section from one of the planes. Delta Flight 295 was taxiing for departure to Tokyo at 10:10 a.m.
Persons: Organizations: Delta, Service, Air Lines, Georgia's Hartsfield, Jackson Atlanta International Airport, Endeavor Air, Federal Aviation Administration, FAA, Business Locations: Tokyo, Lafayette , Louisiana
We'll show you how to watch the presidential debate from anywhere, including cable, streaming, and free options. How to watch the presidential debate in the USThere are tons of ways to watch the debate live in the US. Sling TV and Fubo are great services to upgrade your live TV viewing options and watch the presidential debate. How to watch the presidential debate in CanadaThe debate will be available to stream through CTV News Live in Canada. Like the first presidential debate, tonight's debate will last 90 minutes.
Persons: Donald Trump, Kamala Harris, David Muir, Linsey Davis, Trump, Joe Biden, Biden, Harris, Trump's, Dana Bash, Peacock, ExpressVPN, Vance, Tim Walz Organizations: Business, National Constitution Center, ABC News, Longtime ABC News, CNN, ABC, MSNBC, Fox News, Fubo, Hulu, NBC, CBS, FOX, Paramount, CTV News, BBC News, BBC, Constitution Center Locations: America, Philadephia , PA, Canada, Philadelphia , PA, Pennsylvania, J.D
Investors are gearing up for August's consumer price index report to release on Wednesday. Tuesday's presidential debate could also impact investor sentiment. This week, investors are bracing for the incoming consumer price index report, scheduled for release on Wednesday morning. Before the inflation print, investors will first tune into Tuesday evening presidential debate between candidates Donald Trump and Kamala Harris. Later in the week, the producer price index and the latest jobless claims will be published on Thursday.
Persons: Stocks, , Donald Trump, Kamala Harris, David Bahnsen Organizations: Service, Bahnsen Group, Here's
Deutsche Bank resumed coverage of Tesla with a buy rating, calling it a top pick. He also notched his price target $4 higher to $80, implying shares could gain 16.6% from Monday's close. Along with the new iPhone 16 line, the company unveiled Apple Intelligence for beta rollout next month, or new artificial intelligence capabilities for the iPhone. The iPhone 16 and 16 Plus are available for pre-order starting Friday. "At the core, we do not see Tesla as an automaker but rather a technology platform attempting to reshape multiple industries, deserving of a unique type of valuation framework," the analyst wrote.
Persons: Andrew Obin, Obin, — Hakyung Kim, David Vogt, Vogt, Morgan Stanley, Erik Woodring, Woodring, Goldman Sachs, Michael Ng, Ng, Bernstein, Douglas Harned, Harned, Daniela Nedialkova, Hakyung Kim, Tesla, Edison Yu, Yu, Fred Imbert Organizations: CNBC, Deutsche Bank, Atlantic, Costco, Bank of America, Johnson, Wall Street, Apple Intelligence, UBS, Apple, GE Aerospace GE Aerospace, GE Aerospace, GE Locations: Monday's
The Polaris Dawn mission is a fully private spaceflight, commissioned and funded by a billionaire. Godspeed Polaris Dawn crew, may you make history and return safely." High radiation and the first commercial spacewalkOnce they settle into orbit, the Polaris Dawn crew has a five-day agenda packed with experiments and a bold spacewalk plan. AdvertisementA SpaceX Falcon 9 rocket, carrying the crew of the Polaris Dawn Mission, entered space on Tuesday. So the Polaris Dawn crew plans to fly through a belt of intense radiation and monitor their hearts, airways, and eyes along the way.
Persons: , it's, Elon Musk's, Anna Menon, Sarah Gillis, Scott Poteet, Jared Isaacman, SpaceX Menon, Gillis, Poteet, Isaacman, Frank Messina, SpaceX's, CHANDAN KHANNA, John Kraus, Polaris Dawn, Abhi Tripathi, they're, Tripathi, Starship's, Isaacman haven't Organizations: Service, Polaris, Business, SpaceX, US Air Force, Mission, Polaris Dawn, Apollo, Polaris Program, UC Berkeley's Space Sciences Laboratory, of Liberty Locations: Mars, Cape Canaveral , Florida, Texas
An illustrative image of a person holding a medical syringe and a Covid-19 vaccine vial in front of the the AstraZeneca logo displayed on a screen. On Wednesday, January 12, 2021, in Edmonton, Alberta, Canada. (Photo by Artur Widak/NurPhoto via Getty Images)AstraZeneca shares fell more than 5% Tuesday morning, the biggest one-day drop in seven months, after the British pharmaceutical giant announced disappointing lung cancer drug trial results. The Covid-19 vaccine maker was trading at the bottom of the FTSE 100 and dragged the wider healthcare sector lower after data published Monday showed that its experimental drug did not significantly improve overall survival results for patients. The late-stage trial results from the TROPION-Lung01 Phase III trial showed that the overall survival rate from the new drug "did not reach statistical significance," the company said.
Persons: Artur Widak Organizations: AstraZeneca, Getty Images Locations: Edmonton , Alberta, Canada, London
The mission, dubbed Polaris Dawn, was set to take flight as soon as 3:38 a.m. This launch attempt comes after several issues hampered the Polaris Dawn crew’s efforts to get off the ground in late August. Because carrying out a spacewalk will create a drain on oxygen supplies, the Polaris Dawn mission will have only enough life support for five or six days in space. If successful, Polaris Dawn would beat that record by about 20 miles (32 kilometers). Polaris Dawn may also mark the farthest any woman has ever gone into space.
Persons: Van Allen, Elon Musk, Jared Isaacman, Isaacman, Scott “ Kidd ” Poteet, Anna Menon, Sarah Gillis —, cumulatively Organizations: CNN, Polaris, SpaceX, Twitter, Kennedy Space Center, Falcon, US Air Force Locations: Florida
Investors are waiting for the consumer price report on Wednesday. JPMorgan led a slide in bank stocks after easing its earnings optimism. AdvertisementUS stocks ended mixed Tuesday ahead of the August consumer price index report due out Wednesday morning. Most investors anticipate a 25 basis point rate cut, but any shock in the inflation data could shift that outlook in favor of a steeper cut. Ahead of each report, Tuesday's presidential debate between Donald Trump and Kamala Harris could also sway markets.
Persons: Dow, , Donald Trump, Kamala Harris Organizations: JPMorgan, Service, Nasdaq, Ally Locations: Here's
A Colorado man on a river trip to the Grand Canyon was found dead over the weekend, officials said Monday, in what appears to be the seventh death at the park since July 31. Patrick Horton, 59, was on day 10 of a noncommercial trip along the Colorado River when others in his party found his body Saturday morning near the river, the park said in a news release. The Grand Canyon recorded an average of 17 deaths per year from 2014 to 2023, a park spokeswoman has said. Since 2019, 2 million to 5 million people have visited the Grand Canyon each year, park data shows. Park data that looked at mortality reports from 2014 to 2019 shows that "photographing" was the most lethal recreational activity at the Grand Canyon.
Persons: Patrick Horton, Joëlle Baird Organizations: Rangers, NBC Locations: Colorado, North Carolina, New Mexico, Washington
During my three-day visit in August, I stayed at a tiny home by Tiny Away for one night. AdvertisementLaunched by a Singaporean tiny home startup called Big Tiny in May 2023, Tiny Away features five tiny houses that measure around 139 square feet each — or slightly smaller than an average parking space. Tiny Away is currently the only option for those who want to try tiny house living without going abroad. For one, there's a glamping resort on Lazarus Island that offers stays for a similar price to Tiny Away. But Tiny Away strikes me as ideal for guests looking for some solitude or a chance to experience the city-state minus all the high rises.
Persons: , I'd, Tiny, Adrian Chia, Big Tiny, Erin Liam, Chia, cocker, Lazarus, Prudence Lai Organizations: Service, Business Locations: Singapore, New York City, Lazarus, Southern, Sentosa, Singapore's
Cheating in India's medical entrance examCheating has, in particular, plagued India's highly competitive medical entrance exam, also known as the National Eligibility Cum Entrance Test (NEET). "Question papers are sold at extravagantly high prices," Ashok Rathore, a police officer who investigated cheating linked to India's medical school exam, told the Journal. The person said they can provide next year's medical entrance exam questions for around 1 lakh rupees ($1,200). Those with money can still legally obtain places in private medical colleges if they pay fees ranging from $115,000 to $145,000. Advertisement"For those people, the fact that someone cracked a highly competitive entrance exam and got in would inspire more confidence than someone who paid their way through the whole thing."
Persons: , Dharmendra Pradhan, Ashok Rathore, George Organizations: Service, National Testing Agency, NTA, BBC, Business, Wall Street Locations: India
CNN —Filipino pastor Apollo Carreon Quiboloy, who is wanted by both the FBI and local law enforcement officers on sexual abuse and human trafficking charges, has been arrested weeks after a standoff with the police. The arrest concludes a fraught showdown between the pastor’s supporters and police who had surrounded a compound in the country’s south where Quiboloy had holed up. ET), the detainees were issued a 24-hour ultimatum to come out from the church’s sprawling 30-hectare (75 acre) compound. Nearly 2,000 officers surrounded the church compound where Quiboloy was believed to be hiding. “Although he is a very prominent person… we will treat him like any other arrested person and will respect his rights.
Persons: Apollo Carreon Quiboloy, Quiboloy, Benhur Abolos, , God ”, of Jesus Christ, Nicolas Torre III, Ferdinand Marcos Jr, , Israelito Torreon, Rodrigo Duterte Organizations: CNN, FBI, Facebook, Philippines ’, ” National, Philippine News Agency, Police, PTV Locations: Philippines, of, Davao, Manila, Brig, California, Philippine
After a summer of turmoil, Boeing’s Starliner spacecraft is finally home. The capsule undocked from the International Space Station without astronauts onboard on Friday at 6:04 p.m. Its smooth journey back suggests that the two NASA astronauts it carried to the space station could probably have flown home safely on the spacecraft. But the Starliner then remained parked at the space station for months as engineers on the ground assessed how to safely bring it back to Earth. Wilmore and Williams will remain on the space station into the new year then fly back in February on a SpaceX capsule.
Persons: Starliner, ” Joel Montalbano, NASA Starliner, Butch Wilmore, Suni Williams, Wilmore, Williams, you’ve, ” Williams, , , Boeing’s Organizations: International, NASA, Boeing, SpaceX, Space Center Locations: New, China, Houston
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