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Real gross domestic product , a measure of all the goods and services produced during the April-through-June period, increased at a 2.8% annualized pace adjusted for seasonality and inflation. Economists surveyed by Dow Jones had been looking for growth of 2.1% following a 1.4% increase in the first quarter. Economic activity in the U.S. was considerably stronger than expected during the second quarter, according to an initial estimate Thursday from the Commerce Department. The so-called chain-weighted price index, which takes into account changes in consumer behavior, increased 2.3% for the quarter, below the 2.6% estimate. There also is pressure in the housing market: Sales are declining while home prices continue to climb, putting pressure on first-time homebuyers.
Persons: Dow Jones Organizations: Commerce Department, Stock, Federal Reserve, Fed, Philadelphia Federal Locations: U.S
He's not doing all this out of the kindness of his heart; he's doing it because he wants the credit-card rewards. In a recent poll from Ipsos, 71% of Americans surveyed said they had some sort of rewards, points, or cash-back card, and 80% of those with such a card said they valued their rewards. But maybe we love our credit-card rewards too much, to the point that it's making us act in less-than-ideal ways toward those we hold near and dear. But credit-card rewards are, indeed, making things uncomfortable. I recently booked a fight with a friend who remarked she'd gotten some $300 in travel credit from her rewards card.
Persons: Pam, she's, It's, He's, Jane, Joe, there's, Mary fuming, Matt Schulz, Taylor Swift, I'm, Jen, who's, She'd, nonpoints, Emily Thompson, Guy, they'd, Ted Rossman, , Danielle Bayard Jackson, she'd, Thompson, I'd, Matt, " Schulz, LendingTree, they've, Emily Stewart Organizations: brunch, LendingTree, American, Business Locations: San Francisco, Ipsos, Singapore, Chicago, Alaska, Florida
Yen rises as carry trades unwind, risk sentiment takes a hit
  + stars: | 2024-07-25 | by ( )   time to read: +2 min
The yen drew support from unwinding carry trades on Thursday ahead of next week's Bank of Japan (BOJ) policy meeting and as a rotation out of megacap growth stocks dampened risk appetite broadly and provided some safe haven bids. "It's also the fact that risk sentiment is deteriorating, and that's helped (the yen) as well... You've got unwind in the tech trade, you've got unwind in the carry yen've got the Nikkei, as well, unwinding." Japanese Finance Minister Shunichi Suzuki and top currency diplomat Masato Kanda both refrained from commenting on the yen's recent sharp rise. The New Zealand dollar similarly fell 0.24% to $0.5915.
Persons: Tony Sycamore, It's, that's, You've, you've, Shunichi Suzuki, Masato Kanda, Sterling Organizations: week's Bank of Japan, New, Reuters, IG, Nikkei, Japanese Finance, PMI, Traders, Federal, Australian, New Zealand Locations: New Zealand, U.S, Down
New York CNN —With Vice President Kamala Harris the front runner to receive the Democratic Party’s nomination for president, America’s most powerful industry is set to have a candidate on the ballot from its home turf. Harris’ failed 2020 presidential bid received support from various tech luminaries, including Salesforce CEO Marc Benioff and legendary venture capitalist Ron Conway. Despite her friendly relationships with the industry’s leaders, Harris has also pushed for tech accountability in key areas. As vice president, Harris has taken a key role in the White House around establishing safety measures for artificial intelligence, which is widely viewed as the most consequential new technology in decades. In an interview with CNN, Hoffman added: “In Silicon Valley, actually there’s many threads that are very excited about her.
Persons: Kamala Harris, Harris, Sheryl Sandberg, Reed Hastings, Melinda French Gates, Donald Trump’s, Elon Musk, “ There’s, Biden, ” Aaron Levie, , ” Harris, Sean Parker, she’s, Steve Jobs ’, Laurene Powell Jobs, Harris ’, Marc Benioff, Ron Conway, Mark Zuckerberg, ” Jeffrey Sonnenfeld, Trump Harris, Trump, ” Sonnenfeld, I’ve, didn’t, ” Levie, “ Kamala Harris, Reid Hoffman, Hoffman, , – CNN’s Matt Egan Organizations: New, New York CNN —, Democratic, Bay Area, Netflix, White, CNN, Cambridge, OpenAI, Google, Microsoft, Yale School of Management, Trump Locations: New York, Oakland , California, California, White, Silicon Valley, Silicon
Young men posed in front of posters of the country’s military leader. Over dinner in restaurants, families watched television monitors showing footage of drone strikes. The event was billed as a national cultural festival in the West African nation of Burkina Faso. But it often resembled a mobilization campaign in the all-out war against the Islamist terrorists who have gradually occupied the country in recent years. “The motherland or death,” Alaila Ilboudo, a spoken word artist, shouted onstage to the cheers of crowds at the festival, held in May in Bobo-Dioulasso, the country’s second largest city.
Persons: ” Alaila, Dioulasso Locations: West African, Burkina Faso, Bobo
Two Chinese and two Russian long-range bombers were tracked flying over international waters near Alaska and U.S. and Canadian fighter jets were sent up in response, their joint aerospace command said. The Chinese and Russian military activity Wednesday was not seen as a threat, the North American Aerospace Defense Command, known as NORAD, said. China and Russia confirmed Thursday that they had conducted a joint air patrol over the Bering Sea, which divides Russia and Alaska. Russian fighter jets and strategic bombers were joined by Chinese strategic bombers in the exercises, which lasted more than five hours, the ministry said. A photo released by the Russian Defense Ministry showed a Russian Su-30 fighter jet escorting a Chinese bomber.
Persons: Vladimir Putin, Xi Jinping, Zhang Xiaogang, Zhang Organizations: Sputnik, of, North American Aerospace Defense Command, NORAD, Russian Defense Ministry, China's Defense Ministry, North American U.S . Air Defense, Japan's Defense Ministry, Coast Guard Locations: Russian, Tiananmen, Beijing, Alaska, U.S, Canadian, China, Russia, Bering, North America, Pacific, Chukchi, Bering Strait, Japan, Korea
San Juan (AP) — Puerto Rico’s governor signed a law on Wednesday that prohibits discrimination against people wearing Afros, curls, locs, twists, braids and other hairstyles in the racially diverse U.S. territory. The move was celebrated by those who had long demanded explicit protection related to work, housing, education and public services. “It’s a victory for generations to come,” Welmo Romero Joseph, a community facilitator with the nonprofit Taller Salud, said in an interview. A bronze statue of San Juan Bautista stands in front the Capitol building flanked by U.S. and Puerto Rican flags, in San Juan, Puerto Rico, where a ruling was made on Wednesday to ban hair discrimination. “Unfortunately, people identified as Black or Afro descendant in Puerto Rico still face derogatory treatment, deprivation of opportunities, marginalization, exclusion and all kinds of discrimination,” the law signed Wednesday states.
Persons: ” Welmo Romero Joseph, Romero, San Juan Bautista, Ricardo Arduengo, , ” Westend61 Organizations: Puerto Rico’s, Salud, Civil, U.S, Puerto, Census, Economic Policy Institute, U.S . House, Democratic Locations: Juan, Puerto, Alabama, San Juan, Puerto Rican, San Juan , Puerto Rico, U.S, Puerto Ricans, Puerto Rico, Texas
For years, customers have griped about their portion sizes at the fast-food chain, and Chipotle has vigorously defended itself. "There have been no changes in our portion sizes, and we have reinforced proper portioning with our employees," Laurie Schalow, Chipotle's chief corporate affairs and food safety officer, told Business Insider. "Yes, you can have the same customization with a digital makeline, but you are more constrained in what you can do." technically the robot but i've seen the robot referenced broadly as a "digital makeline." The analyst added that robots could be a solution for digital orders, which Chipotle has said it plans to do.
Persons: , Chipotle, Laurie Schalow, Wells, Danilo Gargiulo, Gargiulo, Daniel Fukuba, we're, Fukuba, Brian Niccol's, Chipotle's, Niccol, Fortune, de gallo, Niccol didn't Organizations: Service, Business, BI Locations: AllianceBernstein, Chipotle, San Jose , California, pico
Washington CNN —President Joe Biden and Israeli Prime Minister Benjamin Netanyahu are set to speak on Thursday – a high-stakes meeting that comes at a crossroads for both Israel’s war in Gaza and Biden’s political future. The moment is also crucial as Israel’s operations in Gaza threaten to snowball into a broader regional war, as Israel and Lebanon continue to trade cross-border fire. Speaking in front of Congress this week, Netanyahu did not substantially address the status of ceasefire negotiations. Trump and Netanyahu will meet Friday at Mar-a-Lago in Palm Beach, Florida, Trump announced Tuesday. I’m the guy that made sure that – I got the Egyptians to open the border to let goods through, medicine and food,” Biden said.
Persons: Joe Biden, Benjamin Netanyahu, Netanyahu, Biden, , , ” Netanyahu, Kamala Harris, Israel, Donald Trump, Trump, ” Biden, , CNN’s MJ Lee Organizations: Washington CNN, Israeli, Central Kitchen, US, Democratic, Trump, Networks Locations: Gaza, Israel, Lebanon, America, Palm Beach , Florida
Trump, the Republican nominee for president, has raised more than $4 million from a mix of digital tokens, a campaign aide told CNBC. At least 19 donors contributed more than $2.15 million bitcoin to the committee, the filing shows. Brian Hughes, a Trump campaign aide, said that of the more than $4 million in crypto raised, most of it arrived in bitcoin. "While the Biden-Harris Administration stifles innovation with more regulation and higher taxes, President Trump is ready to encourage American leadership in this and other emerging technologies." Thus far, it appears the Trump campaign is mostly converting these contributions immediately to USDC and then liquidating the donations.
Persons: Donald J, Trump, Bill Pugliano, Donald Trump, Tyler, Cameron Winklevoss, Mike Belshe, Tyler Winklevoss, Eva Marie Uzcategui, he's, Marc Andreessen, Ben Horowitz, Brian Hughes, Kamala Harris, Hughes, Harris, shiba inu, Jesse Powell, Stuart Alderoty, Alderoty, David Sacks, Ryan Selkis, Sen, Elizabeth Warren, Warren, Ohio Sen, JD Vance, Vance Organizations: Van, Getty, NASHVILLE, Republican, CNBC, U.S, Trump, Republican National Committee, State Department, Gemini Trust, Bloomberg, Solana, Bitcoin, Music City Center, Democratic, Biden, Harris Administration, IRS, Libertarian National Convention, Ohio, Biden White, SEC Locations: Grand Rapids , Michigan, Tennessee, bitcoin, Miami , Florida, U.S, Nashville, San Francisco, USDC, Washington, Lago, Florida
“We want to make this environment comfortable, but also know, you know, what the standard is – you’re here for a reason,” said Lindsey Horan, the midfielder who serves as the team’s captain. And we want to get back to being the best in the world.”“So, we need those players. It was arguably Hayes’ first tough decision as the manager of the women’s team after coming on board in late 2023 following a successful decade-plus at Chelsea FC in London. Even still, she is finding it easier than anticipated to get her team to come together. I cannot finish the ball for players, but I can certainly coach to put players in positions.”
Persons: Emma Hayes, , Lindsey Horan, , that’s, Sophia Smith, Trinity Rodman, Rose Lavelle, Alyssa Naeher, Hayes, Alex Morgan, Hayes ’, “ I’ve, Sam Coffey, Coffey, It’s, – Hayes, ” Hayes, It’ll, Mallory Swanson, who’s, Swanson, ” Swanson, it’s, Morgan, Smith, Rodman, Horan, , Carli Lloyd, Abby Wambach, Mia Hamm, I’m Organizations: Paris CNN —, US, National Team, Costa, Paris Games, Zambia, Stade de Nice, Chelsea FC, US women’s, USA, American, flailing Locations: Washington , DC, Costa Rica, France, Tokyo, Australia, New Zealand, Nice, London, Zambia
LVMH's suite of luxury brands will be front and center at the Paris Olympics. The French conglomorate, led by Bernard Arnault, spent $160 million on sponsoring the event. Here are the custom-made LVMH products you will spot at the games. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThere will be a couple of unexpected stars at this year's Paris Olympics: Louis Vuitton and Christian Dior.
Persons: Bernard Arnault, , Louis Vuitton, Christian Dior, LVMH, Tiffany Organizations: Paris Olympics, Service, Olympics, Business Locations: sipping, Paris
CNN —The US men’s soccer team suffered a brutal return to Olympic action as it was beaten 3-0 by host nation France in its opening match of the Paris Games on Wednesday. The soccer tournament at this year’s Olympics kicked off two days before the Opening Ceremony, with teams consisting predominantly of under-23 players. Playing in its first Olympic Games since 2008, the young US men’s team knew an opening match against the host would be a tough test but, for the first hour at least, it looked more than capable of causing an upset. It will then play Guinea in the final group match on July 30. Meanwhile, Spain beat Uzbekistan 2-1, while Japan thrashed Paraguay 5-0 in some of the other standout scores of the soccer tournament so far.
Persons: Marko Mitrović, Luisa Gonzalez, Djordje Mihailović, Alexandre Lacazette, John Tolkin, Michael Olise, Loïc Badé, “ I’m, Thierry Henry Organizations: CNN, Paris Games, Olympic Games, US, Stade Vélodrome, Reuters, Bayern Munich, , Zealand Locations: France, Marseille, ” France, Guinea, , New Zealand, Spain, Uzbekistan, Japan, Paraguay
Read previewRyan Reynolds is back as Deadpool, this time alongside joke frenemy Hugh Jackman, for "Deadpool & Wolverine." To prepare for the action-packed movie, Reynolds worked with Don Saladino, his personal trainer of 15 years. Related storiesThursday and Friday featured similar exercises to Monday and Tuesday, but different sets and reps. "If you were to line up all the meals that he had during the day, I wanted them to look different, to have different textures. Reynolds focuses on longevitySaladino has always focused on resilience and longevity, and Reynolds has embraced that more over time, the trainer said.
Persons: , Ryan Reynolds, Hugh Jackman, Reynolds, Don Saladino, Saladino, we've, Blake Lively, Emily Blunt, Jackman, It's, Don Saladino Reynolds, he's, you'd Organizations: Service, Business, Hollywood Locations: Romanian
Paris CNN —The 2024 Summer Olympic Games formally get underway on Friday with an incredibly unique Opening Ceremony aimed at putting one of the world’s most famous cities on display. PARIS, FRANCE - JULY 24: A view of Trocadero Square, the venue for the Paris Olympics opening ceremony, with the Eiffel Tower in the background, on July 24, 2024 in Paris, France. The 2024 Summer Games were organized with a mind to put the entire French nation on display, including its more tropical territories. A Games focused on sustainabilityPARIS, FRANCE - MARCH 14: The Paris 2024 logo, representing the Olympic and Paralympic Games four months prior to the start of the Paris 2024 Olympic and Paralympic games is displayed on the facade of Paris town hall on March 14, 2024 in Paris, France. The Opening Ceremony of the Paris 2024 Olympic Games takes place on Friday 26th July, along the River Seine.
Persons: Paris won’t, Pont Alexandre III, Sheng Jiapeng, they’re, It’s, Pascal Le Segretain, , Georgina Grenon, Paris ’, Laurent Michaud, Martin Rickett, , Alexandre III Organizations: Paris CNN, Games, Eiffel, Concorde, Paris, China News Service, Getty, Covid, Paris Olympics, Chateauroux, Olympic, Paralympic Games, Paralympic, CNN Locations: Paris, France, of, Versailles, PARIS, FRANCE, Tokyo, China, Nice, Marseille, Bordeaux, Nantes, Lyon, Tahiti, Seine
Hub71 plans to announce a new cohort later this year, and it says that applications from sustainability and climate tech startups have doubled since the last intake. “Abu Dhabi is starting to forge ahead as a leading tech cluster for climate in the region,” she said. That Abu Dhabi has thrown its weight and oil wealth behind climate tech is a key attraction for Graphmatech. “To scale up climate tech you need financial support,” Dr Mamoun Taher, its founder and CEO, told CNN. His company has engaged in discussions with key stakeholders in Abu Dhabi, including oil and gas companies.
Persons: Abu, ” Ahmad Ali Alwan, Abu Dhabi, Abu Dhabi’s, Patricia Keating, Karim Sahib, Dr Mamoun Taher, , “ Abu Dhabi, Taher, Organizations: CNN, Mubadala Investment Company, United, Organization of, Petroleum, OPEC, P, PwC, Companies, Sweden’s Uppsala University, Getty, UAE, Emirates Steel, Adnoc, Siemens Energy, Abu, Abu Dhabi National Energy Company Locations: Abu Dhabi, wean, UAE, United Arab Emirates, Dubai, Abu, AFP, “ Abu, United States, Australia, Masdar
CNN —A lightning-sparked wildfire raging in eastern Oregon has scorched nearly 270,000 acres, making it the largest active wildfire in the United States. The massive blaze is the largest of 31 large wildfires currently burning across Oregon, which has been the hardest hit by fires in recent days. Over the weekend and earlier this week, the Durkee Fire exhibited extreme fire behavior, even creating it’s own weather in the form of pyrocumulus clouds. Wildfire smoke, including from the Durkee Fire in Oregon, was spreading into Boise and beyond. A cold front has moved through the area Thursday morning, bringing high temperatures to the 80s on Thursday, according to the National Weather Service.
Persons: Indianapolis –, Tina Kotek, ” Kotek, Sarah Sherman, Patrick Nauman, ” Nauman Organizations: CNN, Oregon -, Nationwide, National Interagency Fire Center . Oregon Gov, National Guard, Oregon Department of Emergency Management, Land Management, Oregon State Fire, Weiser, Associated Press, National Weather Service Locations: Oregon, United States, Indianapolis, Oregon - Idaho, Eastern Oregon, Malheur County, Baker, Boise, Colorado , Idaho , Oregon, Washington, Weiser , Idaho
Buy now, pay later firms like Klarna and Block's Afterpay could be about to face tougher rules in the U.K.Britain's new Labour government will soon set out updated plans to regulate the "buy now, pay later" industry, a government spokesperson told CNBC. "Regulating Buy Now Pay Later products is crucial to protect people and deliver certainty for the sector," the Treasury spokesperson told CNBC via email Thursday. The government first set out plans to regulate the sector in 2021. BNPL plans are flexible credit arrangements that enable a consumer to purchase an item and then pay off their debt at a later date. Most plans charge customers a third of the purchase value up front, then take the remaining payments the following two months.
Persons: Block's, Tulip Siddiq, Siddiq, Keir Starmer's, Christopher Woolard, BNPL, Organizations: Labour, CNBC, Treasury, . Treasury, Keir Starmer's Labour Party, Financial Locations: Britain
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Wednesday's full episode of the Halftime Report — July 24, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.
Persons: CNBC's Scott Wapner Organizations: CNBC PRO
The chaos kicked off in the final moments of a lengthy added time, when Argentina’s Cristian Medina headed home in the 106th minute to apparently tie the game at 2-2 - sending Argentina players and fans into raptures. Match broadcasts showed some celebrating Argentina players ducking to avoid objects being thrown by fans toward the pitch, while some Morocco supporters entered the field. “It’s the biggest circus I’ve ever seen in my life,” Argentina coach Javier Mascherano said after the game, according to Reuters. It’s not a neighborhood tournament, it’s the Olympics.”CNN has reached out to the IOC and soccer’s world governing body FIFA for comment. Men’s soccer at the Olympics is played by under-23 teams, with three overage players allowed in each squad.
Persons: Javier Mascherano, ” Soufiane Rahimi, Etienne’s Stade Geoffroy, Guichard, Argentina’s Giuliano Simeone, Argentina’s Cristian Medina, ducking, , ” Mascherano, It’s, , Lionel Messi, aren’t, Julian Alvarez, Nicolas Otamendi Organizations: CNN, Morocco, Paris Summer, Saint, Argentina, raptures, , Reuters, ” CNN, IOC, FIFA, Manchester City, Games Locations: Argentina, Morocco, ” Argentina, Liverpool, Barcelona, Paris
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Friday's full episode of the Halftime Report — July 19, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.
Persons: CNBC's Scott Wapner Organizations: CNBC PRO
CNN —Wayne Brady is not done sharing about his personal life. “It was always through someone else’s lens.”Brady and his family instead decided to do an unscripted series to show the real deal. “And that’s scary, but that’s what I require in my family.”“So I hope people take that away,” she added. Is the Brady family at all concerned about that? “Wayne Brady: The Family Remix” debuts Wednesday on Freeform.
Persons: CNN — Wayne Brady, Wayne Brady, Mandie Taketa, Maile, Jason Fordham, Brady, we’d, , ” Brady, , Taketa, Fordham, ” Fordham, I’m, ” Taketa, ” Maile Brady, “ Wayne Brady Organizations: CNN, Fordham Locations: Brady’s Las Vegas
Imax is due for a rally as Hollywood continues getting back on track after last year's strikes, according to Seaport Research Partners. Analyst David Joyce initiated coverage of the stock, known for its large movie screens, at a buy rating. Joyce's $23 price target implies the stock can rally 30% from Tuesday's closing level. Joyce called Imax a small-cap way to play the normalization of the film industry after joint strikes from writers and actors last year stalled production and delayed some releases. The analyst also believes the stock is not trading like an "experience economy" play despite fitting the mold.
Persons: David Joyce, Joyce Organizations: Hollywood, Seaport Research Partners Locations: Imax's
US stocks tumbled on Wednesday as traders digested weak tech earnings. Tesla missed on earnings last quarter, while Alphabet said YouTube ad revenue fell short. AdvertisementUS stocks continued their slide on Wednesday, led by a decline in tech stocks after Alphabet and Tesla reported earnings for the second quarter. Investors mulled a disappointing round of earnings reports on Tuesday, with Tesla missing earnings estimates and Alphabet reporting that its YouTube ad revenue fell short the last quarter. Investors are eyeing a slew of coming high-profile earnings, with Meta, Apple, and Amazon on deck to report their financials next week.
Persons: Tesla, , David Morrison, Will today's Organizations: Service, YouTube, Elon, Trade, Meta, Apple, Here's
Opinion | Donald Trump and Greg Abbott vs. Migrants
  + stars: | 2024-07-24 | by ( )   time to read: +1 min
To the Editor:Re “Bus After Bus, Texas Changed U.S. Migration” (front page, July 24):Texas did indeed have to bear the brunt of immigrants crossing its border from Mexico, and the rest of the nation might have stepped up to share the Lone Star State’s burden had Gov. Greg Abbott of Texas played the role of statesman rather than partisan gamesman. Instead, he grandstanded by depositing often desperate people in the middle of Northern cities, most of them carefully chosen for being in the hands of Democrats. For this, Mr. Abbott gained what he sought: headlines and cheers. And in the long run, he’ll be recalled in infamy.
Persons: Greg Abbott, Texas, Abbott, he’ll, James M, Banner, Jr, Donald Trump’s Organizations: Lone Star, White House, Congress, Washington, Republican Locations: Bus, Texas, Mexico
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