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So I thought, ‘Let me see if I can go to the Athens Olympics. An unexpected opportunityOmaira got to watch the final dress rehearsal of the opening ceremony of the Athens 2004 Olympic Games on August 13, 2004. And then Omaira was off to work at the shooting center, where the Games’ shooting events were held. But while Omaira was cultivating a pretty heady crush, Dimitris didn’t really have time to engage with his potential feelings. Omaira GillThis year marks 20 years since Omaira and Dimitris crossed paths at the Athens Olympics.
Persons: CNN — Omaira Gill, ” Omaira, ‘ I’m, , , Omaira, ’ ”, … ’, , , Omaira didn’t, “ I’d, David Gray MD, she’d, ’ Omaira Gill, Dimitris Athanasiou, Dimitris, , they’re, ” Dimitris, ” Dimitris ’, hadn’t, Dimitris who’d, he’d, Dimtiris, Dimitris didn’t, Dimitris quizzed, “ Will, She’d, I’m, … ’ ”, couldn’t, didn’t, “ You’ve, Dimitris ’, that’s, we’d, Omaira Gill, Paulo Coelho, “ Omaira, ” Here's Dimitris, Omaira Gill Omaira, Hermes, Dimitiris, Hector, Orion, they’ll, “ Hermes, We’re, Dimitris – Organizations: CNN, Olympic, CNN Travel, Athens, , ‘ Volunteers, Uni, Reuters, Olympics, Olympic Games, Paralympic, MSN, Omaira, , Athens Olympics, Stade de France, Disneyland Locations: Athens, Greece, Birmingham, United Kingdom, London, inbox, Omaira, Pakistan, India, Paris, Disneyland Paris, Europe
When Paris hosted the Olympics in 1924, it was the first time athletes stayed together in a village. The Olympic Village made its debut at the 1924 Paris Olympics. Hulton Archive/Getty ImagesBefore 1924, delegations stayed in hotels, military buildings, or with local families in host cities, according to the Olympics Studies Centre. "A contract has to be formed and charges have to be fixed each time," the IOC said. The organizers of the 1924 Paris Olympics also believed housing athletes together had benefits beyond logistics and cost.
Persons: Frantz Reichel Organizations: Paris, Hulton, Olympics Studies, International Olympic Committee, Asian Social, Canadian Center of Science, IOC, Paris Games
Cold storage leader Lineage just had the biggest IPO of 2024. Once obscure, cold storage has grown in demand in recent years. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCold-storage leader Lineage just clinched the largest public offering of the year. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Bloomberg, Service, Business Locations: Michigan, North America, Europe
Lineage priced 57 million shares at $78 apiece on Wednesday, near the top of its initial $70 to $82 target range. "We started with one warehouse and we've done 116 acquisitions to turn Lineage into what it is today," co-founder and co-executive chairman Adam Forste said on CNBC's "Squawk Box" Thursday morning before shares started trading. In the last year alone, Lineage has acquired Grupo Fuentes, Burris Logistics, Kennedy Transportation and Harnes. Lineage has amassed over 480 facilities, totaling roughly 2.9 billion cubic feet of capacity across countries in North America, Europe, and the Asia-Pacific region. These locations create a global network of cold-storage facilities, reducing supply chain food waste and its environmental impact.
Persons: Adam Forste, Burris, we've, Forste, Kevin Marchetti, Morgan Stanley, Goldman Sachs, Morgan, Wells Fargo Organizations: CNBC Disruptor, Viking Holdings, Nasdaq, Grupo Fuentes, Burris Logistics, Kennedy Transportation, Bank of America, Lineage's Locations: North America, Europe, Asia, Pacific
These names must offer a dividend yield of at least 3%. The oil and gas company is rated buy or overweight by 83.4% of the analysts covering it, and offers a dividend yield of 4.2%. The stock is up close to 18% this year, and offers a 3% dividend yield. Nearly 74% of analysts rate Patterson-UTI buy or overweight, and consensus price targets suggest 43% upside. Shares are off nearly 8% in 2024, and the stock has a dividend yield of 3.2%.
Persons: Russell, Roth MKM, Piper Sandler, Luke Lemoine, Patterson, Stephen Gengaro, , Fred Imbert Organizations: Investors, Big Tech, Nvidia, Meta, Nasdaq, Federal, CNBC, New York Stock Exchange, Wall, Oil, Gas, Northern Oil's, SM Energy, Xcel, Northern Oil, Energy Solutions, Street, Atlas Energy, UTI Energy Locations: Uinta, Xcel Resources
Read previewA French aerospace company is trying to convince disgruntled American SpaceX employees to leave the US for Europe after billionaire Elon Musk announced he would relocate his rocket company from California to Texas. Stanislas Maximin, CEO of Latitude, jumped at the opportunity to poach any unhappy SpaceX employees suddenly staring down an interstate move. Maximin told CNBC that his LinkedIn post garnered some 200 messages and helped him increase his connections on the site by a third. "We have done it multiple times over," Maximin told CNBC of hiring foreigners. Musk has made the Lonestar State his home base in recent years, moving Tesla headquarters to Texas from California during the pandemic.
Persons: , Elon Musk, Musk, Stanislas Maximin, Maximin, I'm, Lockheed Martin, Tesla Organizations: Service, SpaceX, Business, CNBC, Lockheed, LinkedIn, Lonestar State Locations: Europe, California, Texas
Consumer need for speed in package delivery, which has reached its apex with same-day shipping, has placed retailers in a tough spot when it comes to managing transportation costs. Retail executives surveyed say as more — especially younger — consumers demand same-day delivery, the financial payoff isn't there. Roughly three-quarters (76%) of retail executives surveyed by AlixPartners said delivery cost on a per-package basis has increased since last year, and three out of four said home delivery does not add to profitability. 1 priority for last-mile delivery. To save on delivery costs, retailers are moving away from reliance on single carriers in last-mile delivery.
Persons: AlixPartners, Marc Iampieri, Iampieri Organizations: UPS, FedEx, Retail, Carriers, Teamsters Locations: Manhattan, New York City
Sokin has secured $31 million in strategic funding from Morgan Stanley for global expansion. Founded in 2019, Sokin specializes in remittances and multi-currency payment management. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSokin, a London-based fintech startup, has secured $31 million as part of a strategic investment from Morgan Stanley, the companies said Wednesday. Founded in 2019, Sokin specializes in remittances, offering businesses globally the option to manage, transfer, and exchange their payments in multiple currencies through the company's platform.
Persons: Sokin, Morgan Stanley, PayPal execs, Organizations: Investment, PayPal, Aurum Partners, Service, Business Locations: London
UPS shares slide on earnings miss, guidance cut
  + stars: | 2024-07-23 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com   time to read: +3 min
United Parcel Service on Tuesday reported profit and revenue for the second quarter that came in below expectations and cut its 2024 revenue guidance. UPS now expects 2024 revenue to be approximately $93 billion, revised from a previous forecast for as much as $94.5 billion. Adjusting for the impact of settling an "international regulatory matter," UPS posted earnings of $1.79 per share. The company reported operating profit of $1.94 billion, down from $2.78 billion a year earlier. Correction: UPS reported second-quarter profit and revenue on Tuesday.
Persons: Carol Tomé Organizations: Parcel Service, UPS, Logistics, RXO Logistics, LSEG, Revenue, Investors, United States Postal Service, FedEx, USPS Locations: U.S
It found that people generally have a strong preference for a brick-and-mortar experience when buying luxury items. Online luxury sales picked up during the pandemic but have since come back down to earth. The overarching theme is that many consumers haven't warmed up to shopping luxury — namely, ultra-luxe items and brands — online. AdvertisementWe try to treat luxury with the same e-commerce experience we use for paper towels, and that just doesn't work. For the most part, luxury brands prefer that customers would rather shop in-store.
Persons: Gen Z, Claire Tassin, haven't, Jason Goldberg, hasn't, Goldberg, Luca Solca, Solca, Nora Kleinewillinghoefer, Prada, Tassin, Louis Vuitton, Kleinewillinghoefer, Emily Stewart Organizations: Walmart, Morning, Moda, Groupe, Bernstein, Bain & Company, Burberry, Gucci, luxe, Companies, Amazon, Business Locations: , Kearney
Cohere, the artificial intelligence startup founded by ex-Google AI researchers and backed by Nvidia , cut about 20 roles on Tuesday, CNBC confirmed. Despite the cuts, Cohere is hiring in areas such as customer operations, partnerships, revenue, sales, product design and modeling, according to its website. In June 2023, Cohere raised $270 million at a $2.2 billion valuation, with Salesforce and Oracle participating in the funding round. Many customers include businesses in banking, financial services and insurance, Kon told CNBC in the past. In November, Cohere told CNBC it saw an uptick in customer interest after OpenAI's sudden and temporary ouster of CEO Sam Altman.
Persons: Aidan Gomez, OpenAI, Cohere, Fortune, It's, Anthropic, Claude chatbot, Martin Kon, Kon, Sam Altman Organizations: Cohere Inc, Economic, Cohere, Google, Nvidia, CNBC, AMD, Oracle, Salesforce, Company, White, Enterprise Locations: Davos, Switzerland, Cohere, Cohere's
Latitude, a French aerospace company based an hour outside Paris, is getting a surge of applications from American engineers after Elon Musk said he would relocate SpaceX headquarters from California to Texas. Those job seekers work at SpaceX, Blue Origin, Lockheed Martin, Tesla and other companies related to the aerospace industry, the spokesperson tells CNBC Make It. He says the message wasn't a takedown of Musk or SpaceX, which Maximin refers to as one of "the best engineering companies in the world." Rather, he says, "if you're not happy where you are, if you want different things, you can come to Europe, and we'll help you." "We have done it multiple times over," Maximin says, adding that his company has "the full support of French authorities" to make the relocation happen quickly.
Persons: Elon Musk, Lockheed Martin, Tesla, Musk, Stanislas Maximin, Rather, Joe Biden, Donald Trump, Maximin Organizations: Elon, SpaceX, Lockheed, CNBC, U.S Locations: French, Paris, California, Texas, U.S, Hawthorne , California, Starbase , Texas, Europe
A Congressional committee called on the chief executive of CrowdStrike to testify at a hearing about its role in a tech outage that roiled the global economy, in one of the first attempts to hold the cybersecurity company responsible. CrowdStrike sent a faulty security update to its customers Thursday night, resulting in millions of Microsoft Windows devices shutting down and disruptions to airlines, hospitals, logistics companies and others. Americans “deserve to know in detail how this incident happened and the mitigation steps CrowdStrike is taking,” wrote Representative Mark Green of Tennessee, the Republican chairman of the Homeland Security Committee, and Representative Andrew Garbarino, Republican of New York. The letter was sent to George Kurtz, CrowdStrike’s chief executive. Mr. Green and Mr. Garbarino asked the company for a response to scheduling the hearing this week, but did not specify when it would take place.
Persons: CrowdStrike, , , Mark Green of, Andrew Garbarino, George Kurtz, . Green, Garbarino Organizations: Microsoft, Homeland Security Committee, Republican Locations: Mark Green of Tennessee, New York
The impact of these deep strikes has been eye-opening for Europe and the US, opening "Pandora's box" for more of these capabilities, a nuclear weapons and arms control expert told Business Insider. The conventional weapons include SM-6, Tomahawk, and developmental hypersonic weapons, "which have significantly longer range than current land-based fires in Europe." "The war in Ukraine shows that long-range strikes are a key issue for the defense of Europe," Lecornu posted on X. "These countries knew that long-range weapons were important even before Russia invaded Ukraine, but Russia's war in Ukraine has opened Pandora's Box to more and more military steps," explained Hans Director of the Nuclear Information Project at the Federation of American Scientists. US Navy photo by Mass Communication Specialist 1st Class Jonathan WordPoland, Germany, France, and Italy's new long-range missile plans follow work in the US to quickly develop new long-range strike systems.
Persons: , Andrew Dickson, Sebastien Lecornu, Lecornu, Hans, Thierry Wurtz, " Kristensen, Jonathan, Zachary Anderson There's, it's, Kristensen, Trump, he'd Organizations: Service, Business, NATO, Army, Artillery, U.S, French, Russia, Federation of American Scientists, Rafale, US, Attack Missiles, US Navy, Jonathan Word, Trump Locations: Ukraine, Russia, Europe, Germany, Australia, Poland, Italy, Moscow, Jonathan Word Poland, France
The study excluded nations that already faced a risk of direct conflict with China, the US and their respective allies. On the other hand, America's top allies don't share American fears that a massive Chinese military buildup and Chinese leader Xi Jinping's avowed determination to "reunify" Taiwan with China are steps toward war, but rather may be nationalistic posturing. AdvertisementYet if Japan, Australia, Britain and Canada are reluctant to confront China, there are actions they can take to help Taiwan. In addition, the four middle powers could play a role in mediators to prevent a Taiwan war from happening. "To build credibility with both great powers, the four middle powers need to rebuild and bolster their strategic autonomy, material power, and commitment to the Asia-Pacific region."
Persons: Rafiq Dossani, isn't, Xi Jinping's, China's, Dossani, Michael Peck Organizations: Service, America's, RAND Corp, RAND, Business, Taiwan's Ministry of Foreign Affairs, Canada, Chinese Communist Party, NATO, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Taiwan, China, Japan, Australia, Canada, American, South Korea, India, Beijing, Asia, South China, Pacific, Okinawa, East China, Britain, Europe, Forbes
When Kema Ward-Hopper uprooted her family — and career — to relocate from the U.S. to Costa Rica six years ago, she wasn't sure what to expect. She and her husband Nicholas quit their corporate jobs as a research analyst and mortgage broker, respectively, in Houston, Texas, to pursue new careers as entrepreneurs abroad. "I work 25 hours a week now," she says. "A heavy week is about 30 hours a week, but that is rare and happens about once a month." Last year, Ward-Hopper's different income streams earned her about $10,500, according to financial documents reviewed by CNBC Make It.
Persons: Kema, Hopper, , Nicholas, Aaralyn Organizations: U.S . Ward, CNBC Locations: U.S, Costa Rica, Houston , Texas, Costa, Nicoya, Spanish
The new issue for the global supply chain comes amid a rise in global demand, with shipments up 13% year-over-year in June. Air freight supply has increased, but only by 3% year-on-year, already causing higher costs for shippers due to the limited capacity, according to Xeneta. Thousands of flights were grounded or delayed at the world's largest air freight hubs in Europe, Asia and North America. "This is a reminder of how vulnerable our ocean and air supply chains are to IT failure." Ports, freight rails, report some issues, but normal operationsMost rails and ports were faring better after some early morning disruptions.
Persons: Buttigieg, Pete Buttigieg, van de Wouw, Niall van de Wouw, Xeneta, Berkshire Hathaway, Mario Cordero, Bethann Rooney, Emily Stausbøll, Stausbøll, Kpler, Matt Wright Organizations: U.S . Department of Transportation, Transportation, CNBC, Air, Microsoft, FedEx, UPS, Union Pacific, Pacific, CSX, Norfolk, BNSF, APM, Maersk, Port Authority, Port Authority of New, Port, U.S ., Harbour Master Locations: New York, U.S, China, Europe, Asia, North America, Norfolk Southern, Berkshire, Port, Houston, Los Angeles, of Long Beach, New Jersey, Port Authority of New York, Savannah, Virginia, Charleston Port, U.S . East Coast, Maritime, Gdansk, Dover, Felixstowe, Liverpool, Rotterdam
Ukrainian troops have lost a hard-won position on the eastern bank of the Dnipro River, near the southern city of Kherson, after months of bloody fighting to hold on to a piece of land in what some Ukrainian soldiers and military analysts have described as a futile operation. The operation to establish a bridgehead on the Russian-controlled eastern bank of the Dnipro had been controversial from the start. Launched last fall, it was seen as an attempt to open a new front in the south that would disrupt Moscow’s logistics and tie down its troops in the area. But military analysts warned that the operation, which consisted of dangerous river crossings, was vulnerable in its logistics and unlikely to lead to rapid breakthroughs. Ukrainian gains were limited to small pieces of land near the river, of which Krynky was the most notable.
Persons: Krynky Locations: Dnipro, Kherson, Krynky, Russian
So, Business Insider asked Amazon delivery drivers what they wish customers would stop doing to ensure their packages are delivered safely and efficiently. Chesnot/Getty ImagesRequesting that delivery drivers put packages inside your mailboxThis may seem like a smart measure to ensure your package won't get stolen; however, Amazon delivery drivers can't do this in the US. Never updating old delivery instructionsYou may want a delivery driver to tuck a smaller package under your doormat for safekeeping. AdvertisementGuterriez said customers should make sure they remove delivery instructions from their accounts if they no longer apply. Leaving delivery instructions that aren't clearNancy Sanchez, a delivery driver who works with Amazon via Prolific Logistics, said it can be difficult when delivery instructions aren't specific enough.
Persons: , you've, Roni Guterriez, Guterriez, Adam Landry, Nancy Sanchez, Landry Organizations: Service, Business, Amazon, Centurion, Gruntastic Logistics, US Postal Service, Logistics
AdvertisementBCRED, the firm's first credit fund for individual investors, raised $3.4 billion in this quarter, more than the $1.4 billion raised by BXPE and the $990 million raised by BREIT. AdvertisementSchwarzman combined his analysis of BREIT's success with a rosier picture of the larger macro environment in real estate. Since calling the bottom of the real estate market at the beginning of the year, Blackstone's confidence that inflation is receding has continued to increase, leading to more deployment of capital into real estate. It's also providing more possibilities to exit and realize returns on its real estate assets. The firm, which is deploying nearly $15 billion into real estate this year, according to Gray, sees sunny days ahead.
Persons: , Steve Schwarzman, Jon Gray, Gray, Blackstone, prorated redemptions, we've, BXPE, prorating, Schwarzman, BREIT, REITs, It's Organizations: Service, Business, Blackstone Infrastructure Partners
CNN —The US military is ending its temporary pier mission off the Gaza coast that has been plagued with challenges after roughly 20 days of operational use, as humanitarian aid begins being brought in through an Israeli port instead. Cooper said the pier was operational for “a little more than 20 days” and delivered 19.4 million pounds of aid. The US military will continue to help deliver the remaining aid from Cyprus to Ashdod, Cooper said. “A temporary pier would enable a massive increase in the amount of humanitarian assistance getting into Gaza every day,” Biden said. During the same storm, four US Army vessels supporting the pier were washed ashore on beaches in Gaza and Israel.
Persons: , Brad Cooper, redeploy, Cooper, Israel —, Joe Biden, , ” Biden, Steve Taravella, Sonali Korde, Jennifer Hansler Organizations: CNN, US Central Command, US Army, Brooke Army Medical Center, Food, Food Programme, Bureau, Humanitarian Locations: Gaza, Cyprus, Ashdod, Israel, San Antonio , Texas
Read previewAlthough the cost of a cruise is going up, this form of travel is still the best value for a family vacation right now. The average price of a cruise is up more than 40% since 2019, according to Cruise Critic data reviewed by CNBC. Finer fare, similar to what's included on cruise ships, costs even more. Plus, hotel prices are also on the rise, up 40% to 50% compared to 2019. Meanwhile, a three-night sailing on the Utopia of the Seas, Royal Caribbean's newest cruise ship, can cost $533 a night.
Persons: , David Bernstein, who's, I've, Amanda Adler, I'm Organizations: Service, CNBC, Business, Prima, Entertainment, Seas, Royal, New Zealand Locations: Norway, Iceland, Caribbean, Europe, New
CNN —Authorities in Paraguay seized over 4 tons of cocaine with a market value of around $240 million inside a shipment of sugar that was destined for Belgium, the country’s anti-drug agency Senad said Tuesday. The cocaine bust – named “Operation Sweetness” – is the largest in the country’s history and was carried out in capital Asuncion’s seaport, according to Senad. Rachid provided few details into the investigation but said an organized criminal group was likely behind the shipment. “Nowadays, drugs don’t leave Paraguay, the drugs are confiscated here in our territory, and now the big challenge is to prevent drugs entering Paraguay, clearly the country is not a cocaine producer,” Paraguay’s President Santiago Peña told local media after the drug bust. Peña said the country is “used as drug route and obviously this (bust) is going to discourage (traffickers).”“I think this is a signal sent to organized crime groups to stop using Paraguay, because they will be met with authorities that are determined,” the president said.
Persons: Senad, , Jalil Rachid, Rachid, don’t, , Santiago Peña, Peña Organizations: CNN, Authorities, ABC Locations: Paraguay, Belgium, Asuncion’s, Paraguayan
Keys to the Pool, Not the Room
  + stars: | 2024-07-16 | by ( Elaine Glusac | ) www.nytimes.com   time to read: +1 min
When Cadie Carroll and two college friends planned a recent weekend reunion in Sedona, Ariz., they booked a vacation rental to have more space than a hotel room and to be able to cook, something they enjoyed doing together at the University of Texas. The only thing missing was a swimming pool. For that, they booked a day at L’Auberge de Sedona where, for $100 each, they gained access to the resort pool, complimentary valet parking, lunch and a sound-healing session, part of a roster of daily activities that passholders have access to. “It felt fancy, like we were getting the five-star treatment,” said Ms. Carroll, 31, a logistics consultant in El Segundo, Calif.Day passes to resorts can be a thrifty traveler’s splurge or a local’s daycation. While the concept isn’t new, it’s grown rapidly in the wake of the pandemic as hotels, still recovering from the tourism collapse, seek to monetize their underused spaces such as pools, spas and even meeting rooms.
Persons: Cadie Carroll, , Carroll Organizations: University of Texas Locations: Sedona, Ariz, L’Auberge, El Segundo, Calif
Wolfe Research initiated coverage of Amazon with an outperform rating, calling for nearly 30% upside. 7:03 a.m.: Goldman Sachs increases Spotify price target Goldman Sachs thinks Spotify will surpass Wall Street's second-quarter earnings forecasts. The firm and increased its price target to $320 from $317 on shares while maintaining a neutral rating. The analyst upgraded the e-commerce stock to buy from neutral and raised his price target to $82 per share from $78. Analyst Alan Gould downgraded the forum social network stock to hold from buy and reiterated a $75 per share price target.
Persons: Wolfe, Goldman Sachs, Wall, Eric Sheridan, Brian Evans, Shopify, Brad Sills, Sills, — Brian Evans, Jefferies, Surinder Thind, Piper Sandler, Peter Keith, Keith, DLTR, Alan Gould, Gould, Shweta, Khajuria, Fred Imbert Organizations: CNBC, Wolfe Research, Bank of America, Spotify, Jefferies, EPAM, EPAM Systems, Trump, Biden, Democrat, Advertising, Cloud Computing, Health, Business, Amazon Logistics Locations: Reddit, Monday's
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