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CNN —Some travelers pick a city break based on the destination’s cultural offerings – shortlisting the best museums and galleries to visit. It’s these gourmand travelers Time Out had in mind when the global media organization put together a new ranking of the world’s best foodie cities. “Food is everything when traveling,” Grace Beard, Time Out’s travel editor told CNN Travel. The city’s Central restaurant, recently named as number one in the 2023 World’s 50 Best Restaurants awards, naturally gets a mention too. Alexandr Milodan/iStockphoto/Getty ImagesOther cities on the list include Ho Chi Minh City (number four), Beijing (number five) and Bangkok (number six).
Persons: ” Grace Beard, margherita, Maradona’s, Andrea Viviani, , Santa, It’s, Diego Armando Maradona, Roberto Madrid, Cris Bouroncle, Thando Moleketi, Williams, Alexandr Milodan, Ho, Out’s Grace Beard, Beard, Alice Porter Organizations: CNN, CNN Travel, Santa Maradona, Naples, Getty, De, Liverpool, Michelin, Food Locations: Italian, Naples, , Lima, Peru, Peruvian, AFP, South African, Johannesburg, Braamfontein, De Beer, African, Ho Chi Minh City, Beijing, Bangkok, Portland , Oregon, , Portland, Liverpool, Cities, Italy, South Africa, Vietnam, China, Thailand, Kuala Lumpur, Malaysia, Mumbai, India, Dubai, UAE, Portland, USA, Medellín, Colombia, Seville, Spain, Porto, Portugal, Marrakech, Morocco, Lyon, France, Sydney, Australia, Montreal, Canada, Osaka, Japan, Copenhagen, Denmark
Trump and Musk’s growing courtshipFor much of President Biden’s time in the White House, his relations with Elon Musk have been tense. They may be about to plunge to a new low after Biden’s re-election campaign hit out at reports that Donald Trump could make Musk an adviser if the Republican were to win in November. The president’s campaign sees mileage in targeting Trump’s ties to moguls. Musk and Trump met in March at the billionaire investor’s Palm Beach, Fla., estate, where the advisory role discussions took place. Peltz and Musk have also briefed Trump on a plan to invest in a project to prevent the possibility of voter fraud.
Persons: Trump, Biden’s, Elon Musk, Donald Trump, ” James Singer, DealBook, he’s, Musk, David Sacks, Peter Thiel, Steven Mnuchin, Rupert Murdoch, Nelson Peltz, hasn’t, Don Lemon, “ Let’s, , Biden, Tesla Organizations: Elon, Republican, Wall Street, Trump, Los Locations: Los Angeles, Palm Beach, Fla
This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Separately, the stock market will also deliver its verdict when markets open on Monday. Nervousness among investors over the results has meant that the India VIX index, the market's so-called fear gauge, has shot up by more than 135% since its April lows. However, some equity strategists point out that even a landslide victory for Modi's BJP could potentially sour the stock market. Meanwhile, Gautam Chhaochharia, head of global markets for India at UBS, said foreign investors are in a "wait and watch mode" ahead of India's election results despite economic fundamentals looking "very, very strong."
Persons: Narendra Modi's, Modi, Bradley Saunders, Saunders, Venugopal Garre, , Garre, Fitch, SRH, Mark Mobius, Gautam Chhaochharia Organizations: Bloomberg, Getty, BJP, Traders, " Bank of America, Capital Economics, Modi's BJP, , Reuters, Kolkata Knight Riders, IPL, Sunrisers, Knight Riders, CNBC, UBS Locations: Delhi, India, Kolkata, Sunrisers Hyderabad
"Expanding the use of the renminbi in trade is less challenging than increasing its status as an international reserve currency," Liu wrote. The yuan faces challenges in its globalizationWhile the US and China's strategic competition points to a possible race for currency supremacy, the Chinese yuan is far from ready — and even Beijing knows that. AdvertisementHowever, capital controls are not necessarily a dealbreaker for the broader adoption of the yuan in trade, wrote Liu. It also shows it's not so easy to displace the mighty US dollar as the world's top reserve and trading currency of choice. A recent global survey of 1,660 enterprises showed that there is just not enough interest in using the yuan to trade.
Persons: , Zoe Liu, Liu, Russia —, Xi, it's Organizations: Service, China Studies, Council, Foreign Relations, Business, Monetary, Financial, China's Bank of Communications, Renmin University Locations: China, Taiwan, London, Russia, Beijing, East Asia, Southeast, Central Asia
Treasury yields fall as investors look to key data
  + stars: | 2024-05-30 | by ( Sophie Kiderlin | In | )   time to read: +1 min
ET, the 10-year Treasury yield was down by 3 basis points at 4.594%, falling back below the 4.6% mark it had crossed Wednesday for the first time in a month. The 2-year Treasury yield was last at 4.966% after falling by nearly 2 basis points. U.S. Treasury yields were lower on Thursday as investors looked ahead to key economic data and assessed the state of the economy. Investors awaited key economic data due toward the end of the week, with the latest personal consumption expenditures price index figures due Friday. Policymakers have in recent weeks indicated that interest rate cuts may be a while off, with Minneapolis Fed President Neel Kashkari telling CNBC that it could take "many more months of positive inflation data" before he would support rate cuts.
Persons: Neel Kashkari Organizations: U.S, Treasury, Investors, PCE, Federal, Minneapolis, CNBC
CNN —A person has died after falling into an airplane jet engine at Schiphol Airport in Amsterdam, the Netherlands, on Wednesday. “We are currently taking care of the passengers and employees who witnessed the incident at Schiphol,” KLM added on Wednesday. Schiphol Airport, which is one of Europe’s busiest aviation hubs, described the event as a “horrible incident” in a post on X. In December 2022, an airport worker died in an accident at the Montgomery Regional Airport in Alabama after also being ingested into the engine of an aircraft. And in December 2015 an engineer at Mumbai airport died after being sucked into the engine of an Air India plane.
Persons: Michel van Bergen, Organizations: CNN, Schiphol, Netherlands Royal Military, KLM, ” KLM, Montgomery Regional Airport, Embraer, Envoy, National Transportation Safety, Air, Airbus, Air India Locations: Amsterdam, Netherlands, Schiphol, Billund, Denmark, Alabama, Mumbai, Air India
European stocks are on course for a lower open Thursday, continuing a negative trend this week as global markets come under pressure from rising bond yields. Equity market gloom has been mirrored globally, as expectations that interest rates will be higher for longer have driven up bond yields — generally a harmful move for stocks. First to release will be the euro zone, amid uncertainty over how how many times the European Central Bank will cut interest rates this year beyond its expected first cut at its June meeting next week. That will be followed by the U.S. personal consumption expenditures price index report, the Federal Reserve's preferred inflation gauge. The minutes from the Fed's most recent meeting and recent comments from policymakers have seen money markets fully price in just one rate cut from the world's biggest central bank this year.
Organizations: Equity, European Central Bank, U.S, Federal Locations: Asia, Pacific
The Met Office had earlier warned that a volcanic eruption was likely following “intense seismic activity” at the crater and a build-up of magma in its underground reservoir. “Lava is flowing outside the defense walls at Grindavík in several places, and lava is also starting to flow outside the walls at Svartsengi,” Víðir Reynisson from Iceland’s Civil Defense told RUV. Another volcanic eruption is seen from a helicopter flight for the fifth time since December on the Reykjanes peninsula in southwestern Iceland on May 29, 2024. The site is part of southwest Iceland’s Reykjanes Peninsula — a thick finger of land pointing west into the North Atlantic Ocean from Reykjavik. Rather than having a central volcano, the Reykjanes Peninsula is dominated by a rift valley, with lava fields and cones.
Persons: RUV, ” Reynisson, Defense’s Reynisson, Benedikt Ófeigsson, Organizations: CNN, Iceland’s, Met Office, Iceland’s Civil Defense, Almannavarnadeild, Getty, Iceland’s Met, Iceland’s Ministry of Foreign Affairs Locations: Iceland, Grindavík, Hagafell, Svartsengi, Anadolu, Reykjavik
NEW YORK — New York Federal Reserve President John Williams on Thursday said inflation is still too high but he is confident it will start decelerating later this year. With markets on edge over the direction of monetary policy, Williams offered no clear signs on where he is leaning as far as possible interest rate cuts go. Williams called policy "well-positioned" and "restrictive" and said it is helping the Fed achieve its goals. But higher than expected inflation readings have altered that landscape dramatically, and current pricing is pointing to just one decrease, probably in November. Williams said he expects PCE inflation to drift down to 2.5% this year on its way back to 2% in 2026.
Persons: John Williams, Williams, CNBC's Sara Eisen, Dow Jones Organizations: Federal Reserve Bank of New, York Federal, Economic, of New, Fed, Commerce Department Locations: Federal Reserve Bank of New York, New York, York, of New York
The three keys USB logo is seen outside the London office of Swiss bank UBS in central London, on March 20, 2023. LONDON — UBS on Thursday announced a shake-up of its executive board in the latest phase of a radical overhaul of the Swiss banking giant, following its takeover of fallen rival Credit Suisse. It marks the first time a divisional UBS president has been based in Asia-Pacific, the bank said. George Athanasopoulos and Marco Valla also join the executive board as co-presidents of the investment bank, alongside Damian Vogel, incoming global chief risk officer. The trio replace outgoing board members Credit Suisse CEO Ulrich Korner, UBS Asia-Pacific President Edmund Koh, and UBS Americas Regional President Naureen Hassan.
Persons: Iqbal Khan, Rob Karofsky, Sergio Ermotti, Ermotti, George Athanasopoulos, Marco Valla, Damian Vogel, Ulrich Korner, Edmund Koh, Naureen Hassan Organizations: UBS, LONDON, Credit Suisse, Group, Credit, UBS Americas, Swiss Locations: London, Swiss, Asia, Pacific, U.S, Americas, UBS Asia
NATO members have less than 5% of the air defenses needed to protect Central and Eastern Europe, per the FT.A NATO official said their air defense "stockpiles have been reduced." Putin hinted on Tuesday that he might attack NATO members calling for Ukrainian strikes on Russia. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCentral and Eastern European countries may find themselves vulnerable during an invasion because of NATO's weak air defenses, per a new report from the Financial Times. Members of the military alliance only have less than 5% of the air defense capabilities needed to protect those regions from attacks, the FT reported on Wednesday, citing people familiar with NATO's defense plans.
Persons: Putin, Organizations: NATO, Service, Financial Times, Business Locations: Central, Eastern Europe, Russia, Eastern
NEW DELHI, INDIA - MAY 29: Residents of JJ Cluster Vivekanand Colony at Chanakyapuri fill up water from a tanker in the morning on May 29, 2024 in New Delhi, India. Temperatures have hovered near 50 degrees Celsius (122 degrees Fahrenheit) in Delhi, according to the Indian Meteorological Department. Some local weather stations reported highs of 49.9 degrees Celsius on Tuesday, above Delhi's previous record temperature of 49.2 degrees, which was logged in May 2022. Other weather stations in Delhi measured temperatures on Wednesday ranging from 45.2 to 49.1 degrees Celsius. The area of Narela cooled by as many as 1.5 degrees from Tuesday, while temperatures in many other sites rose further.
Persons: Vipin Kumar Organizations: Hindustan Times, Getty, Indian Meteorological Department, Reuters Locations: DELHI, INDIA, Chanakyapuri, New Delhi, India, Delhi, heatstroke
Read previewThe company behind San Francisco's $700-a-month tiny sleeping "pods" has accused city officials of worsening the city's homelessness problem as it battles a lengthy investigation. James Stallworth, CEO of Brownstone Shared Housing, told Business Insider that San Francisco Planning Department staff had an "adversarial attitude toward housing." Brownstone says it is waiting for city officials to approve a change-of-use request so it can continue operating its 4-foot-high sleeping pods in Mint Plaza. City officials told BI that Brownstone still needed to complete important safety upgrades to comply with the law. AdvertisementThe pods made headlines late last year after proving a hit with some tech workers seeking affordable accommodation in central San Francisco.
Persons: , James Stallworth, Daniel Sider, Stallworth, Sider, Christian Lewis Organizations: Service, Francisco's, San Francisco Planning Department, Business, Tech Locations: San Francisco, Francisco
Beth Hammack, a former Goldman Sachs executive, was just appointed Cleveland Fed president. Hammack succeeds Loretta Mester, known for her hawkish stance on inflation policies. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementLongtime Goldman Sachs executive Beth Hammack, who left in February, is heading to the Federal Reserve Bank of Cleveland as its next president. Hammack replaces Loretta Mester, who is stepping down on June 30 after a decade as the Cleveland Fed's president.
Persons: Beth Hammack, Goldman Sachs, Hammack, Loretta Mester, , She'll, Mester Organizations: Goldman, Cleveland Fed, Service, Federal Reserve Bank of Cleveland, Cleveland Fed's, Business
In this article NES.N-CH Follow your favorite stocks CREATE FREE ACCOUNTwatch nowThe meteoric rise of weight loss drugs means consumers' nutritional needs are "shifting" which provides new opportunities for food companies, Nestle CEO Mark Schneider told CNBC. "I think what since has emerged is that nutritional needs don't go away. So, you know before, during, after GLP-1 therapy — consumers still have nutritional needs, but they may be different from someone who is not on a weight loss regimen." According to Schneider, consumers who are on weight loss medication simply have different nutritional needs. Nestle is also planning other "companion offerings" for consumers taking weight loss drugs, both in the U.S., where Vital Pursuit products will launch, and elsewhere, Schneider said.
Persons: Mark Schneider, Schneider, CNBC's Silvia Amaro, Nestle, they're Organizations: Nestle, CNBC, Investors Locations: Swiss, U.S
Patriotism, Diversity and the Election
  + stars: | 2024-05-30 | by ( David Leonhardt | )   time to read: +1 min
Student debt. One is the contrast between the country’s most heated political debates and the top concerns of most voters. Student debt and housing costs make for a useful comparison. Student debt, a subject that the Biden administration has emphasized, may seem like the ultimate pocketbook issue. In reality, it’s more niche: Only 18 percent of U.S. adults have any federal student debt.
Persons: Biden Organizations: Democratic Locations: Gaza, U.S
LONDON — Kate, the Princess of Wales, will miss a military ceremony she would usually take part in next month as she continues her cancer treatment, a Kensington Palace spokesperson said Thursday. The princess, wife of the heir to the throne, Prince William, has not been seen in public since she revealed she had cancer in a video earlier this year. Kate said that she was undergoing "a course of preventative chemotherapy" on the advice of her medical team. Hundreds of people have also commented on a Reddit thread titled: What is going on with Kate Middleton? King Charles III was himself diagnosed with cancer in February and has been undergoing treatment.
Persons: Britain's Catherine, Princess of Wales, Britain's Prince George of Wales, St Mary Magdalene, Princess, Wales, Kate, Prince William, Prince, , William, Kate's, Kate Middleton, George, Louis, King Charles III, Doctors, Charles, Buckingham, Queen Camilla, Queen Elizabeth II Organizations: Royal, St Mary Magdalene Church, LONDON, Irish Guards, NBC, British Army, Horse Guards, Press Association, Guardsmen Locations: St Mary, England, Kensington, London, Charlotte, British
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMalaysian central bank governor discusses country's moderating inflationAbdul Rasheed Ghaffour, governor of Bank Negara Malaysia, discusses the outlook for inflation in Malaysia.
Persons: Abdul Rasheed Ghaffour Organizations: Malaysian, Bank Negara Malaysia Locations: Bank, Malaysia
A former California official pleaded guilty to conspiring to steal more than $1.5 million of water, but the decadeslong water heist case still has more questions than answers. The US attorney said Falaschi was responsible for stealing somewhere between $1.5 million and $3.5 million worth of water. Falaschi's plea agreement claims he's responsible for stealing only a fraction of the original $25 million prosecutors accused him of taking in the original indictment. The plea agreement also said Falaschi was one of several people involved in the misconduct and that he was unaware of the full extent of the misconduct. Of the water Falaschi took, the plea agreement said almost all of it was taken to "blend down and reuse drainage water, which helped protect farmland and improve water quality in the San Joaquin River."
Persons: Dennis Falaschi, Falaschi, should've, Robin Hood, he's Organizations: Service, US, Eastern, Eastern District of, Business, Prosecutors, Los Angeles Times, Times Locations: California, Fresno, Merced Counties, Eastern District, Eastern District of California, San Joaquin
Read previewScrolling through the profiles on OkCupid, Anna Akbari was drawn to a man who seemed handsome, witty, and highly intelligent. He was a catfisher — a person who fakes their online identity to trick victims into thinking they are someone else. He'd sent her a forged driving license, power points from his supposed job, and even copies of papers he claimed to have written at MIT. "We didn't know who this person was or why they were doing it," Akbari told BI. "Emily was Ethan, and Ethan was Emily," Akbari wrote in the book.
Persons: , Anna Akbari, They'd, Akbari, — Ethan Schuman, MIT —, Schuman, Ethan, Gchat, — Schuman, he'd, Warren Talmarkes, I'd, didn't, Gina Dallago, She'd, Dallago, Anna, He'd, they'd, Emily Slutsky, who'd, Emily, Slutsky Organizations: Service, Columbia University, MIT, Business, New York University, BI, Skype, Grand, Valentine's, Facebook, Grand Central Publishing, Columbia Locations: Washington, DC, New York, Ireland, Irish, Akbari, New York City, Japan, Columbia, Cork
Zero-down mortgages are making a comeback
  + stars: | 2024-05-30 | by ( Matt Egan | )   time to read: +8 min
That massive roadblock is being removed by a new zero-percent down mortgage program launched two weeks ago by one of the nation’s largest mortgage lenders. ‘Demand has been huge’These mortgages are only open to first-time homebuyers and those making no more than 80% of the area’s median income. That’s because in order to refinance at a lower rate, the homeowner would need to fully pay off that second mortgage. For instance, Bank of America launched a zero-down payment mortgage program in 2022 for first-time homebuyers in certain Black and Hispanic neighborhoods. “These mortgages are going to be ticking time bombs – just like subprime mortgages –unless home prices continue to increase very substantially,” Kelleher said.
Persons: Mat Ishbia, homebuyers, Christian Petersen, refinances, UWM, ” Alex Elezaj, they’d, , Patricia McCoy, McCoy, won’t, Bankrate, , Anneliese Lederer, ” Lederer, ” Dennis Kelleher, ” Kelleher, Jonathan Adams, ” UWM, Elezaj, , ” Elezaj, ” It’s, “ We’re, Greg McBride, Adams, ” Adams Organizations: CNN, United Wholesale Mortgage, Phoenix Suns NBA, Phoenix Suns, NBA, Oklahoma City, Footprint Center, Boston College Law School, Consumer Financial Protection Bureau, Federal Reserve, Bank of America, US Department of Agriculture, US Department of Veterans Affairs, Center for Responsible, Better, Saint Joseph’s University, Bankrate, , Wall Street Locations: Phoenix , Arizona
Polls consistently show that his support from Black voters has declined to alarming levels for a Democrat. Four years ago, nearly nine in 10 Black voters nationwide cast their ballots for Mr. Biden, according to exit polls. Image Recently, Mr. Biden and Ms. Harris have been speaking directly to Black audiences at multiple events per week. “The Biden campaign is panicking because they see that Black voters aren’t buying what Biden is selling,” Ms. Thomas added. Recently, Mr. Biden and Ms. Harris have been speaking directly to Black audiences at multiple events per week.
Persons: Biden, Donald J, Kamala Harris, Trump, George Floyd’s, ” Mr, Harris, Trump’s, Black, Wes Moore, Austin Davis of, Yuri Gripas, Mr, , Sherry Gay, surrogates, Sheff, Hallow, “ Trump’s MAGA, Janiyah Thomas, , Ms, Thomas, Brown, ” Ms, Michael Nutter, , Michael Gold Organizations: Republican, Black, Democratic, Mr, Gov, Girard College, The New York Times, New York Times, Siena College, Philadelphia Inquirer, Black Democrat, Biden, Bronx, Voters, Supreme, of Education, Morehouse College, Detroit, Democrats, Black voters Locations: Philadelphia, African, Maryland, Detroit, Milwaukee, Atlanta, New York
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewCentral Europe's largest ammunition supplier said that quality and cost issues meant that half of the shells it's sourcing for Ukraine can't be sent directly to the country, according to the Financial Times. In January, NATO Secretary General Jens Stoltenberg said that the war in Ukraine had "become a battle for ammunition." Ukraine has been forced to limit itself to firing 2,000 shells per day for much of this year, Ukrainian President Volodymyr Zelenskyy said. AdvertisementAnd it's only been since mid-May that its forces have started to breathe more easily over their ability to expend shells, Zelenskyy said.
Persons: , Michal Strnad, Strnad, Strnad's, Jens Stoltenberg, Sinéad Baker, Volodymyr Zelenskyy, Zelenskyy Organizations: Service, Financial Times, Czechoslovak Group, Business, CSG, Radio Free, NATO, Reuters Locations: Ukraine, Czech, Asia, Africa, Prague, Russia
The house featured in "Home Alone" is located in the Chicago suburb of Winnetka. Over 30 years since the release of the classic film "Home Alone," the iconic house featured in the movie is up for sale. Located in the Chicago suburbs, 671 Lincoln Avenue Winnetka, Illinois 60093 is on the market for $5.25 million, according to representatives from the Coldwell Banker Realty's Dawn McKenna Group. Dawn McKenna Group, Coldwell Banker RealtyThe redbrick Georgian home was built in 1921 and is 9,126 square feet, with five bedrooms and six bathrooms. Dawn McKenna Group, Coldwell Banker Realty
Persons: Dawn McKenna, haven't, Macaulay, Kevin McCallister Organizations: Coldwell, Dawn McKenna Group, Coldwell Banker, Wall Street Locations: Chicago, Winnetka, Lincoln, Winnetka , Illinois, Illinois
Beijing's goal now is to minimize any impact from potential sweeping sanctions from the West in "extreme geopolitical scenarios," such as a military conflict over Taiwan, which China claims as its territory, wrote Liu. "Expanding the use of the renminbi in trade is less challenging than increasing its status as an international reserve currency," Liu wrote. AdvertisementHowever, capital controls are not necessarily a dealbreaker for the broader adoption of the yuan in trade, wrote Liu. It also shows it's not so easy to displace the mighty US dollar as the world's top reserve and trading currency of choice. A recent global survey of 1,660 enterprises showed that there is just not enough interest in using the yuan to trade.
Persons: , Zoe Liu, Liu, Russia —, Xi, it's Organizations: Service, China Studies, Council, Foreign Relations, Business, Monetary, Financial, China's Bank of Communications, Renmin University Locations: China, Taiwan, London, Russia, Beijing, East Asia, Southeast, Central Asia
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