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CNBC Daily Open: Soft landing hit by minor turbulence
  + stars: | 2024-10-02 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
Mark Felix | Afp | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Port workers along the U.S. East Coast and Gulf Coast started striking Tuesday. It's just the first days of the port strike and flare-up in Middle East tensions, however. The best-case scenario would be that recent events are just minor turbulence on the way to a soft landing.
Persons: Mark Felix, Kathy Hochul, Adam Kamins, Christopher Ball, Piper Sandler, Campbell, It's, Steve Liesman, Jeff Cox, Fred Imbert, Lori Ann LaRocco, Sean Conlon, Alex Harring, Brian Evans Organizations: Afp, Getty, CNBC, U.S ., Gulf Coast, New, Moody's, Quinnipiac University, Nasdaq, Nvidia, Apple Locations: Seabrook , Texas, Port, U.S, U.S . East Coast, New York, New Jersey, Iran, Major U.S, East
Here’s the deal: The East Coast port strike is getting a lot of attention for its potential disruption to the economy — which is precisely the point. No dockworkers means no bananas (or whatever), which means no profits for the companies that produce and ship them. While research shows automation has obvious benefits, like lower operating costs and fewer human-related errors, port automation does not, on its own, significantly improve performance, according to a 2018 McKinsey report. But automation anxiety is rapidly spilling over into office work, where managers are adopting AI in the hopes of replacing human work or amplifying production. As Washington Post columnist Heather Long wrote Tuesday, the strike is “an early battle of well-paid workers against advanced automation.
Persons: CNN Business ’, It’s, , Dennis Daggett, Mark Felix, Sameera Fazili, Biden, it’s, , ” Fazili, Heather Long Organizations: CNN Business, New York CNN, Hollywood, McKinsey, International Longshoremen’s Association, Economic, Getty, National Economic Council, Washington Locations: New York, East Coast, China, Singapore, Europe, Port of New York, New Jersey, Long Beach, Los Angeles, AFP
Trump was surrounded by Secret Service agents at his North Carolina event on Wednesday as he greeted supporters in the rope line. Congress just approved funding for both Harris and Trump to receive presidential-level protections, which one security expert said was unprecedented. “They are all now getting presidential-level protection from the U.S. Secret Service, which has never been done before,” said Evy Poumpouras, a former Secret Service agent. In a statement Tuesday, Trump campaign spokesperson Steven Cheung disclosed that Trump had received an intelligence briefing about Iran. An official with the Trump campaign said it had no intention of altering or modifying its campaigning after this briefing.
Persons: Donald Trump, Trump, , Kamala Harris, Harris, Evy Poumpouras, ” Poumpouras, Mark Felix, Kimberly Cheatle, Ryan Routh, Joe Biden’s, Covid, Ronald Rowe, Butler, , Donald, Jim Watson, Steven Cheung, ” Cheung, ” Trump Organizations: Secret Service, Service, NBC, Marine, Naval Observatory, Trump, Secret, Getty, , Authorities, Republicans, Democratic Party, Harris, Tempe , Arizona . Police, Air Force, , National Intelligence Locations: Iran, North Carolina, Carolina, U.S, Butler , Pennsylvania, West Palm Beach , Florida, Tempe , Arizona, AFP, United States
Collin Reid/AP A boat damaged by Hurricane Beryl lies on its side at a dock in Kingston on Thursday. Leo Hudson/AP Simone Francis gathers items from her home that were blown away by Hurricane Beryl in Old Harbor, Jamaica, on Thursday. Ricardo Hernandez/AP Pastor Winston Alleyne clears trees felled by Hurricane Beryl in St. Vincent and the Grenadines on July 2. Lucanus Ollivierre/AP Fishing boats, damaged by Hurricane Beryl, sit in a heap at the Bridgetown Fisheries in Barbados on July 1. Randy Brooks/AFP/Getty Images Brad Reinhart, senior hurricane specialist at the National Hurricane Center in Miami, tracks Hurricane Beryl on July 1.
Persons: Beryl, Phil Klotzbach, Beryl –, , “ Beryl, ” Klotzbach, Mark Felix, Hurricane Beryl, Brandon Bell, Blake Braun, Dolly, Port, Jon Shapley, Eddie Seal, Fernando Llano, Everton Evanks, Elizabeth, Joe Raedle, Collin Reid, Leo Hudson, Simone Francis, Hurricane, Paola Chiomante, Marco Bello, Jose Luis Gonzalez, Vincent, Lucanus, Arthur Daniel, Samir Aponte, Ricardo Hernandez, Winston Alleyne, Ricardo Mazalan, Sylvia Small, Matthew Dominick, Chandan Khanna, Randy Brooks, Brad Reinhart, Gilbert Bellamy, , Mona Hemmati, Beryl “, ” Hemmati, Hurricane Beryl churns, Beryl Beryl’s, Alberto, Chris –, El Niño, CNN’s Rachel Ramirez Organizations: CNN, Colorado State University, Getty, Houston Chronicle, AP, Bloomberg, Everton, National, Reuters, Wednesday, Reuters Workers, AP Homes, Bridgetown Fisheries, NASA, National Hurricane Center, Klotzbach, Climate, Hurricane, Colorado State, National Hurricane Locations: Caribbean, Surfside Beach , Texas, AFP, Houston, Hurricane, , Texas, Port Aransas , Texas, Tulum, Mexico, St, Elizabeth Parish, Jamaica, Kingston , Jamaica, Kingston, Old Harbor, Cancun , Mexico, Playa del Carmen, Union, Kingstown, Grenadines, Petite Martinique, Cumanacoa, Venezuela, Santo Domingo, Dominican Republic, Bridgetown, Barbados, Oistins, Hastings, Miami, Columbia, Africa, United States
Juneteenth is a celebration of that hard-fought Black freedom, observed in honor of June 19, 1865 when slaves in Galveston, Texas, first learned from Union soldiers that they were free. Like my parents growing up in Haiti, she was used to seeing Black people in positions of power. She had freed herself from unjust rules meant to restrict education for Black Americans. Mark Felix/AFP/Getty ImagesIn Haiti, Hurston’s creative powers had the time and freedom to unfurl. As the author of “Barracoon,” a book based on interviews with one of the last enslaved Black Americans, Hurston almost certainly understood the significance of Juneteenth.
Persons: Nadine Pinede, , Nadine Pinede Sophie Kandaouroff, Lincoln, Juneteenth, , Jim Crow, Zora Neale Hurston, Hurston, Lynne Sladky, she’d, Little, Barnard, Langston Hughes, Hurston unapologetically, Zora, Mark Felix, Lucille, Toussaint Louverture, Jean, Jacques Dessalines, Henri Christophe, Alice Walker, Walker Organizations: Scholastic Education, Haiti Noir, CNN, Union, Black, Black American, La Force, Howard University, Barnard College, Harlem Renaissance, verve, Guggenheim Fellowship, Guggenheim, Getty, La, Magazine Locations: Haiti, , Haitian, Galveston , Texas, Africa, Texas, Caribbean, France, United States, Black, American, Eatonville , Florida, Miami , Florida, Little Haiti, Baltimore, Washington, New York City, Jamaica, AFP, Long
In the voluntary market, customers buy renewable energy in amounts that exceed states' minimum requirements from utility companies. Customers in these programs — also known as utility green power programs — pay their utility a "small premium" to get electricity from renewable sources, according to the U.S. Energy Department. Green power marketing programs Consumers in some states can also opt into "green power marketing programs." watch nowGreen energy programs instead rely on "renewable energy certificates," or RECs. It's a way to provide extra funding to a renewable energy project, typically sold by a broker or marketer rather than a utility, Sumner said.
Persons: Mark Felix, Jordan Vonderhaar, Jenny Sumner, It's, Joe Raedle, Loren Elliott, , Sumner, Valerie Macon, Joydeep Mitra, Mitra Organizations: Afp, Getty, U.S . Energy Information Administration, National Renewable Energy Laboratory, Environmental Protection Agency, Roadrunner, Bloomberg, U.S . Department of Energy, Getty Images, U.S . Energy Department, Yale University's, EPA, Michigan State University Locations: Dawson , Texas, U.S, McCamey , Texas, Solano County , California, California , Connecticut, Delaware , Illinois, Maine , Maryland , Massachusetts, Michigan , New Hampshire , New Jersey , New York , Ohio, Pennsylvania, Rhode Island , Texas, Virginia, California, Imperial , California
Mark Felix | Afp | Getty ImagesHOUSTON — The crisis in the Red Sea could lead to a shortage in the global tanker fleet if disruptions persist for another six months, the CEO of Kuwait Petroleum Corporation told CNBC. Houthi militants have been striking commercial shipping in the Red Sea since November in support of Palestinians as Israel wages war in Gaza. The company is continuing to ship through the Red Sea and is making decisions on which route ships should take on a daily basis, he said. "We maintain a strategic tanker tanker fleet for these types of reasons," al-Sabah said. Wirth told CNBC that Chevron is "not moving ships to the Red Sea."
Persons: Shaikh Nawaf Al, Mark Felix, Shaikh Nawaf, KPC, Saddam Hussein's, Michael Wirth, Wirth, CNBC's Brian Sullivan Organizations: Kuwait Petroleum Corporation, Afp, Getty, HOUSTON, CNBC, Houthi, Global, Chevron Locations: Sabah, Houston , Texas, Red, Israel, Gaza, Africa, al, Al, Persian, Kuwait, Iraq, China
Missouri Secretary of State Jay Ashcroft speaks with reporters on Jan. 23 in Jefferson City, Missouri. In Wyoming, a GOP state senator forwarded an FGA draft bill to Secretary of State Chuck Gray that would prohibit sending out unsolicited absentee ballot request forms. Emails show the group strategized with the secretary of state’s office for weeks leading up to Ashcroft proposing his own such rule last January. FGA notches wins with weakened child labor lawsFGA’s lobbying group, The Opportunity Solutions Project, spearheads its efforts at the state level. Chip Somodevilla/Getty ImagesFGA also continues its push at the state level across the country to enact its policy priorities.
Persons: State Jay Ashcroft, , Ashcroft, Kacen Bayless, FGA, , Chuck Gray, ” Gray, Gray, , Joe Biden’s, Jay, Daniel Garrett, Garrett, “ It’s, Missouri’s, Scott Fitzpatrick, BlackRock, ” Fitzpatrick, Mark Felix, Fitzpatrick, ALEC, Andy Puzder, Carls Jr, ” Puzder, Kristina Shelton, Puzder, ” Kristina Shelton, they’ve, Tarren Bragdon, Rebecca Burkes, It’s, Tyson, , Bragdon, Sarah Bryner, Florida Governor Ron DeSantis, Paul Renner, Donald Trump, Chip Somodevilla, Shelton, ” Shelton Organizations: CNN, State, Republican, Foundation, Government, Missouri, Kansas City Star, Tribune, Service, GOP, Ashcroft, Conservative, Missouri Chamber of Commerce, National, University of Pennsylvania, Brookings Institution, Exxon, BlackRock, ” BlackRock, Energy, ExxonMobil, Washington Post, American Legislative Exchange Council, Heritage Foundation, Heritage, Boston, Wisconsin Democratic, FGA, Solutions, Tyson Foods Inc, George’s Inc, US Department of Labor, Solutions Project, Daily, The Heritage Foundation, Alliance, Trump, Florida Governor, Bragdon, Florida House, House, FBI, Justice Department, Department of Education, Center, Pleaides Locations: Missouri, Texas, Jefferson City , Missouri, Wyoming, Kansas , Indiana, BlackRock, Florida, ExxonMobil Baytown, Baytown , Texas, Washington, ” Wisconsin, Wisconsin, Arkansas, Iowa, Park City , Utah, DeSantis, Rome , Georgia
CHANNELVIEW, Texas — For nearly 20 years, Texas environmental regulators have kept a disturbing secret. AdvertisementTexas Community Health News; Texas Commission on Environmental Quality"Any exposure to a carcinogen increases your risk of developing cancer. AdvertisementTim Doty, a former TCEQ mobile air monitoring expert, at the industrial edge of River Terrace Park in Channelview, Texas. In fact, the agency rarely fines companies that violate Texas air pollution laws. Mark FelixHoneycutt's toxicology division soon took an even more dramatic step to weaken Texas' benzene guidelines.
Persons: Loren Hopkins, Hopkins, Mark Felix, TCEQ, AirToxScreen, AirToxScreen Harris County Attorney Christian Menefee, Menefee, Tim Doty, Doty, Solv, He'd, Glenn Shankle, Kelly Keel, Todd Riddle, Riddle, Lopez, Joe Lopez, Dora, Joel Lopez, Randy Lopez, It's, Joel, Felix Benzene, wildcatters, Houston —, Forbes, Lorenzo de Zavala, Alison Cohen, Cohen, Tim Doty's, Houston Mayor Bill White, Shankle, Michael Honeycutt, Valerie Meyers, Meyers, Mark Felix Meyers, Richard Hyde, John Sadlier, Ryder, Hyde, hadn't, Russell Allen, Matt Baker, Jacintoport, Cloelle Danforth, Public Health Watch —, Danforth, Mark Felix Honeycutt's, Eric Schaeffer, Schaeffer, Honeycutt, Jim Tarr, polluters, upended, Mark Felix Fracking, Barnett, Glenn Shankle —, , Rick Perry, Perry, Sadlier, David Bower, misstep, Baker, Bower, Michael Burgess, Greg Abbott, Abbott, Mark Felix Meanwhile, Randy, That's, Carolyn Stone, Stone, Carolyn Stone's, Mark Felix The, Cynthia Benson, Benson, Mark Felix Tim Doty, Mark Felix K, Jordan Gass Organizations: Public Health Watch, Texas Commission, Environmental, American Petroleum Institute, Oceanic, Atmospheric Administration, U.S . Navy, Geospatial - Intelligence Agency, General, Health, Public Health, Rice University, Environmental Protection Agency, Texas Community Health, AirToxScreen Harris County Attorney, polluters, Mark Felix Public Health, TCEQ, Solv, Mark Felix Public Health Watch, myelodysplasia, Houston, Oil, Gas Watch, Texas, Houston Ship, University of California, Houston Mayor, ., . Texas Community Health, NASA, Exxon Mobil, Public, Watch, Environmental Defense Fund, Management, Civil, Air Alliance Houston, Republican, Fort, United, Texas toxicologist, EPA, Texas Tribune, Google, Land Office, . Geological Survey, National Oceanic, Firefighters, U.S . Occupational Safety, Health Administration, Channelview, Improvement Coalition, Health Watch, San Jacinto, K, Texas Legislature, Solv Group, Services Locations: , Texas, Texas, Houston, Channelview's Jacintoport, San Jacinto, California, Jacintoport, Channelview , Texas, AirToxScreen Harris County, Channelview, Harris County, United States, North Channelview, Gulf, Terrace, Joel's, Houston , Texas, Spindletop, Mexico, Republic of Texas, Port of Houston, San Francisco, . Texas, That's, polluters, lacquers, Dallas, Fort Worth, Fort Worth City, Austin, Round, Minnesota, Galveston, U.S
CarMax in 2021 launched nationally an online tool that provides instant offers to car owners for their vehicles. Photo: Mark Felix/Bloomberg NewsDuring the pandemic, auto dealers rushed to buy used cars off the street as vehicle production declined amid supply-chain shortages. They also have bolstered dealers’ profit margins while allowing some to cut prices, as the vehicles they purchase directly from consumers are often cheaper. Inventory pressures have eased in recent months, but dealers continue to focus on street purchases because they are more lucrative than buying cars at wholesale auctions, where dealers bid up prices and pay fees and transportation costs. A street purchase is different from a trade-in, where dealers purchase a car at the same time they sell a new one.
Persons: Mark Felix Organizations: Bloomberg Locations: Houston, CarMax
Last month, NASA's OSIRIS-REx spaceship dropped off a sample of dirt from the Bennu asteroid. They've been studying the asteroid sample the spaceship delivered in late September. Some of the sample matter OSIRIS-REx collected from the asteroid Bennu, shown during a press conference. AdvertisementAdvertisementWhat does the asteroid sample look like? A close-up image of the OSIRIS-REx sample shown on a screen during a press conference at the Johnson Space Center in Houston, Texas.
Persons: NASA's, REx, , OSIRIS, They've, Jason P, Dworkin, hasn't, they've, Mark Felix, They're, they'll, Mari Montoya, Curtis Calva Organizations: Service, NASA, Getty, Space Center, Johnson Space Center, NASA NASA Locations: Houston , Texas
For the better part of an hour, he might be the only person. Mr. Haugen has worked for more than half of his 52 years as a fire lookout, scanning the larch and pine wilderness from a one-room mountaintop cabin. More and more, he stands at another divide, too: between human jobs and automation. The chief of the U.S. Forest Service, Randy Moore, told lawmakers in March that the agency was moving away from humans in watchtowers. “We need to lean much further into the technology arena,” he said.
Persons: Leif Haugen, Haugen, mutt, Ollie, Randy Moore, Organizations: U.S . Forest Service Locations: Montana, West
Thank wind and solar, energy experts say. “The thermal plants have bounced up and down,” Lewin told CNN, saying thermal plant outages during heatwaves have been high by Texas grid manager ERCOT’s own standards. The state is also rapidly installing battery storage, to store wind and solar energy when the sun isn’t shining and wind isn’t blowing. “I think what they’re leaving out is the intermittency of the thermal plants, they continue to neglect that,” Lewin said. That’s not to say renewables are a panacea, but the point is thermal plants are also not a panacea.”
Persons: ” Michael Webber, , Doug Lewin, Webber, ” Lewin, ERCOT’s, Mark Felix, , ERCOT, Lewin, that’s Organizations: CNN, Texas, “ Renewables, University of Texas, Energy Information Administration, Renewables, Energy, US Energy Information Administration, Lone Star Locations: Austin, Texas, Hill County , Texas, AFP, Gulf of Mexico
What book would you pack if you were isolated in a Mars habitat with three other people for 378 days? The book includes descriptions of "psychological horrors produced by weeks in absolute darkness." Photographed in the Mars Dune Alpha's capsule library was a book titled "Blind Descent: The Quest to Discover the Deepest Cave on Earth," a novel by James Tabor. The living room/dining area inside of CHAPEA's Mars Dune Alpha at the Johnson Space center in Houston, Texas. "Ultimately, this information will help NASA make informed decisions to design and plan for a successful human mission to Mars," Douglas added.
Persons: , it's, Kelly Haston, Nathan Jones, Ross Brockwell —, James Tabor ., Tabor, Bill Stone, Alexander Klimchouk, who've, Jay C, Patrick Lencioni, MARK FELIX, Grace Douglas, Douglas Organizations: NASA, Service, Johnson Space Center, Crew Health, Publishers, Getty Locations: Houston , Texas, Mars, AFP
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Persons: Dow Jones
Elizabeth Holmes reported to prison on May 30, 2023, after being convicted of fraud and conspiracy. Before her sentence began, Holmes maintained a vegan diet and regularly drank green juices. Her prison camp in Texas serves foods like hot dogs, tacos, hamburgers, and macaroni. A vocal proponent of green juice, disgraced Theranos founder Elizabeth Holmes will have to get used to some changes to her usual diet during her 11-year prison sentence. Other changes to her daily life will include limited access to technology and daily headcounts, Insider previously reported.
Persons: Elizabeth Holmes, Holmes, John Carreyrou, Amanda Seyfried, Sunny Balwani, Fortune, MARK FELIX Organizations: Inc, Theranos, Federal, BBC, of Prisons Locations: Texas, Bryan , Texas
Bill Stafford/NASAAiming for fidelity has resulted in a habitat that could feasibly built on Mars, Smith adds. MARK FELIX/AFP/AFP /AFP via Getty ImagesNASA is attempting to fill in what it calls “Strategic Knowledge Gaps,” that currently make a manned Mars mission too risky. A manned Mars mission will ship food to the planet in advance of humans, which means it will need a long shelf-life. Intended as a location for the emirate to develop technology for an eventual Mars mission, it was also designed by Bjarke Ingels Group, with 3D-printed buildings. Thankfully the crew entering CHAPEA in June will not have to concern themselves with that potentially deadly element of a Mars mission.
There's a problem with tax credits, though. A September report from Credit Suisse estimates approximately $500 billion of tax credits will be monetized over the next decade. "There are a few institutional players in the market that purchase tax credits at discount to market value in exchange for buying at volume. Sellers can list their tax credits on option, get bids on those credits, and compare offers. Tax credits have a wide base of support politically because a lot of very diverse stakeholders benefit from them.
That is a potentially costly process that can require overhauling existing enterprise tech stacks, or even hiring high-priced experts to manage new IT tools, analysts said. SHARE YOUR THOUGHTS How can tech executives smooth the integration of new digital tools when their vendors make acquisitions? Hewlett Packard Enterprise this month said it acquired Pachyderm and would integrate new software tools into its enterprise-tech platform. HPE this month said it acquired Pachyderm, a San Francisco-based software startup, and would integrate the new software tools into its enterprise-tech platform. “Our existing customer base will want to know they won’t be forced to replace an existing technology they already buy,” Mr. Hotard said.
Tech Chiefs Fear ‘Frankenstein’ Software Integrations
  + stars: | 2023-01-25 | by ( Angus Loten | ) www.wsj.com   time to read: +6 min
Microsoft Corp. this month said it plans to incorporate AI into all of its enterprise software, while boosting its multibillion-dollar investment in OpenAI, the startup behind chatbot ChatGPT. That is a potentially costly process that can require overhauling existing enterprise tech stacks, or even hiring high-priced experts to manage new IT tools, analysts said. Hewlett Packard Enterprise this month said it acquired Pachyderm and would integrate new software tools into its enterprise-tech platform. HPE this month said it acquired Pachyderm, a San Francisco-based software startup, and would integrate the new software tools into its enterprise-tech platform. “Our existing customer base will want to know they won’t be forced to replace an existing technology they already buy,” Mr. Hotard said.
In a statement released after he won the Astros bet, McIngvale wrote that the last 41 years have been "the greatest years" of his life." "I would do anything for this city," according to the statement. McIngvale at his store Gallery Furniture. Mark Felix for The Washington Post via Getty Images. Source: Gallery Furniture's facebook page
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