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The bus was ferrying travelers to the train station to board the Trans-Siberian railway. Like Marie-Claire, Elaine had been working in Japan for a while, teaching English. Flirting in MongoliaMarie-Claire and Elaine were strangers who happened to be both traveling via the Trans-Siberian railway. She also shared the news with her extended network of New York friends. Elaine, Marie-Claire and their son Marcello have a family motto, based around their shared initials, EMC.
Persons: CNN — Marie, Claire Martineau couldn’t, Elaine Comerford, Marie, Claire, Elaine, , Elaine broached, they’d, , Claire couldn’t, ” Marie, they'd, Claire Martineau Marie, who’d, , she’d, That’s, ” Elaine, “ Marie, Wolfgang Kaehler, we’d, Steve, ” Here's Marie, Claire Martineau, you’ve, Elaine didn’t, weren’t, Diane, “ Diane, ‘ Let’s, She’d, Claire’s, , Marie Claire, Marcello, Here's Marie, “ We’ve, We’ve, we’ve, Anna Maria, Cliare, it’s Organizations: CNN, CNN Travel, Queens, Maison Internationale, EMC Locations: France, Japan, Europe, Eastern Europe, Budapest, Vienna, Boston , Massachusetts, Boston, New York City, Marie, New York, Beijing, China, Moscow, Mongolia, Russia, Asia, Mongolia Marie, Siberia, Germany, Turkey, Greece, Hungary, , Austria, Manhattan, Queens, Midtown, , Provincetown , Massachusetts, Thailand, Vietnam, Colombia, Ecuador, United States, Anna Maria Island , Florida, Florida
The logo of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, on Thursday, July 6, 2023. OPEC countries will hold a separate videoconference meeting that same day. OPEC+ was previously set to meet on June 1 in Vienna. The influential oil producers' alliance is currently slated to continue cutting 2 million barrels per day of crude output until the end of this year, under its formal policy. Market participants are closely watching whether these second-quarter voluntary cuts will be extended, while supply security concerns linger amid ongoing conflict in the oil-rich Middle East.
Persons: Nymex Organizations: Organization of, Petroleum, of, Coalition, CNBC, Saudi, Brent Locations: Vienna, Austria, OPEC, Saudi Arabia, Russia, London
Ark Invest CEO Cathie Wood believes stocks are ready to spring upward with easing price pressures and lower interest rates on the horizon. "In the fourth quarter, as the Fed's dot plot began pointing to much lower interest rates, the bull market in equities broadened dramatically," Wood said in an X post on Thursday evening. In our view, more price deflation and lower interest rates will activate coiled equities." She said investors have been flocking to safe havens and cash at a dramatic pace last seen during the 1930s. "In our view, the search for cash and safety in the equity markets today is as intense as that during the Great Depression in the early 1930s," Wood said in the X post.
Persons: Cathie Wood, Wood Organizations: Federal Reserve
Read previewRussia has moved some combat forces from Africa to help support its latest offensive efforts in northeastern Ukraine, according to a new Western intelligence assessment. The Russian defense ministry created the Africa Corps last year as a way to expand its footprint on the continent and also in the Middle East. Photo by Kostiantyn Liberov/Libkos/Getty ImagesRussia's defense ministry "almost certainly redeployed detachments from the Africa Corps to the Ukrainian border during April 2024 in preparation for this offensive," the defense ministry said. Other Africa Corps detachments are believed to have deployed to Syria, Libya, Burkina Faso, and Niger, the UK said. French Army via APThe recent deployment of certain Africa Corps units to the Kharkiv region appears to underscore Russia's commitment to its new offensive.
Persons: , Wagner, Kostiantyn Liberov, Yevgeny Prigozhin, Volodymyr Zelenskyy Organizations: Service, Africa Corps, Business, Nazi, French Army, AP, Libkos, Staff of, Armed Forces, Facebook Locations: Russia, Africa, Ukraine, Moscow, Vovchansk, Ukraine's Kharkiv, Kharkiv, Ukrainian, Syria, Libya, Burkina Faso, Niger, Mali
Opinion | Trump’s Taste for Tyranny Finds a Target
  + stars: | 2024-05-24 | by ( Jamelle Bouie | )   time to read: 1 min
Among the worst episodes in American history are those moments when the federal government deploys the full weight of its power against the most vulnerable people in the country: the Trail of Tears and the Fugitive Slave Act in the 19th century and Japanese internment in the middle of the 20th, to name three. If he is granted a second term in the White House, Donald Trump hopes to add his own entry to this ignominious book of national shame. Trump’s signature promise, during the 2016 presidential election, was that he would build a wall on the U.S. border with Mexico. His signature promise, this time around, is that he’ll use his power as president to deport as many as 20 million people from the United States. “Following the Eisenhower model,” he told a crowd in Iowa last September, “we will carry out the largest domestic deportation operation in American history.”
Persons: Donald Trump, Eisenhower, , Locations: U.S, Mexico, United States, Iowa
We were going to Paris to see Taylor on May 9, 2024. AdvertisementStrong enjoyed every moment of the Taylor Swift concert in Paris. When Jennifer asked if I wanted to see Taylor with her in Paris, it was a no-brainer. Five of us went to the concert, including Jennifer, 32, another granddaughter, Brianne Pattison, 36, and my daughter-in-law, Kay Strong, 66. I'm happy that the younger generation knows there are older people like me who love to have fun in their life.
Persons: , Nancy Strong, Jennifer, Taylor Swift's, We've, — I, Taylor, I've, Taylor Swift, she'd, Asa, Strong, Jennifer Strong, Brianne Pattison, Kay Strong Organizations: Service, Business, MTV, Kanye West Locations: New York, Europe, Paris, Dallas, Reading , Pennsylvania, Reading, Antarctica, South America, Amsterdam, Anthropologie
Gas prices trending lowerOil prices surged last month as Israel and OPEC member Iran stood on the brink of war, raising concern at the White House that gasoline prices could jump heading into the summer. When adjusting for inflation, pump prices are about 2% lower compared to last year, according to the Energy Information Administration. Even in costly California, gasoline prices are down about 27 cents over the past four weeks, he said. But de Haan said gasoline prices will likely edge lower through the Fourth of July holiday as refiners increase output, which should keep downward pressure on pump prices. "Since the pandemic, the summer driving season has not seen a surge in demand, which can push pump prices higher," said Gross, the AAA spokesperson.
Persons: Kevin Carter, Biden, Patrick de Haan, It's, de Haan, Andrew Gross, De Haan, Superstorm Sandy, Donald, Trump, Brent, Gross Organizations: Getty, The Department of Energy, Northeast Gasoline Supply, AAA, Energy Information Administration, Congress, Reserve Locations: San Diego, San Diego , California, Israel, Iran, California
In today's big story, we're looking at the push for WFH Fridays and how that plays into the "quiet vacationing" phenomenon . The big storyAnti-office FridaysHector Roquet Rivero/Getty Images; Jenny Chang-Rodriguez/BIWith all due respect to summer Fridays, we've found a year-round replacement: WFH Fridays. But WFH Fridays' staying power remains to be seen. Which brings us back to WFH Fridays. The end result could be employers saying abuse of WFH Fridays means they need you back in the office… for good.
Persons: , Hector Roquet Rivero, Jenny Chang, Rodriguez, we've, Insider's Juliana Kaplan, Noah Sheidlower, It's, Taiyou Nomachi, millennials, they've, BI's Kelsey Vlamis, haven't, it's, Momo Takahashi, Goldman Sachs, SEB Research, That's, Andrew Caballero, Reynolds, Isabel Fernandez, OpenAI, Scarlett Johansson, Sam Altman, Y Combinator, Tyler Le, Mark Cuban, Vivek Ramaswamy, Burger King, Dan DeFrancesco, Hallam Bullock, George Glover, Grace Lett, Laine Napoli Organizations: Service, Business, Workers, Companies, RBC Capital, Pujol, BI, Microsoft, Google, Bloomberg, Finance Ministers, Central Bank Governors Locations: Dublin, Germany, Meta, BuzzFeed, New York, London, Chicago
How the super rich party at the Monaco Grand Prix
  + stars: | 2024-05-24 | by ( Susan Griffin | )   time to read: +8 min
British driver Lewis Hamilton of Mercedes looks walks the drivers parade before the Formula 1 Grand Prix at the Circuit de Monaco on May 28, 2023. Here, designer stores, supercars, multi-million-dollar yachts and astronomically priced restaurants are ‘la norme’, but during the three-day Grand Prix, the eye-watering ostentation increases three-fold. Amber Lounge might be one of the most exclusive and expensive events taking place during the Monaco Grand Prix weekend, but Monte Carlo itself is a veritable party hub. “As a former resident, I can tell you there are two sides to the F1 Grand Prix arriving in Monaco. Fans watch the action during qualifying at the F1 Monaco Grand Prix.
Persons: , Tom Holland, Lewis Hamilton, Mercedes, Dan Mullan, revel, Cipriani, Sass Café, Max Verstappen, Justin Bieber, Kim Kardashian, Kylie Minogue, Prince Albert of Monaco, Eddie Irvine’s, Sonia, Amber, Lauren Green, Joash Lee, partygoers, Jax Jones, Monte, Bruce Bundrant, ” Bundrant, Ryan Pierse, Green, Organizations: CNN, Monaco, Prix, Circuit, Getty, Business Development, AS Monaco FC, Locations: Monte Carlo, British, Fairmont, Hôtel Hermitage, Hôtel, Paris, Le Meridien, Monaco, Singapore, Las Vegas, Abu Dhabi
How private equity rolled Red Lobster
  + stars: | 2024-05-24 | by ( Gretchen Morgenson | )   time to read: +9 min
In this photo illustration, a cooked lobster is displayed on a plate at a Red Lobster restaurant on May 20, 2024 in Austin, Texas. Under the terms of the sale, Red Lobster would also see regular rent increases of 2% a year, the release noted. "All of the people who were supplying Red Lobster, all of the people who are essentially providing services to Red Lobster, the small businesses in the communities affected by mass layoffs, they are next in line, they are experiencing the ripple effect." Sen. Edward Markey, a Democrat from Massachusetts, where eight hospitals operated by bankrupt Steward Health Care are, recently held hearings on private equity and health care. Private equity is emerging in all parts of our economy, Markey added, but its most profound impact is in health care.
Persons: didn't, Josh Olshansky, leaseback, Red, Moody's, Andrew Park, Oscar, Robert Reich, Bill Clinton, America's, Reich, Austin Hurst, Hurst, Sen, Edward Markey, Markey Organizations: Sears, Mervyn's, Steward, Manor Care, Companies, Golden, American Realty Capital Partners, Realty, Lobster, Financial Reform, Thai Union Group, Thai Union, Steward Health, Department of Health, Human Services Locations: Austin , Texas, Canada, San Francisco, Golden, Bangkok, Thai, Arizona, Massachusetts
The explosion of private credit has been met with a whole host of concerns, but among the louder ones more recently is that the industry has not experienced a downturn at scale. "A lot of those folks who took private-credit loans will be stranded when [obscenity] hits the fan," Dimon said. "Banks tend to work with the borrower and the middle-market loan in the crisis…in the mark-to-market world of private credit, they have to, as a fiduciary, book it at par." In other words, he said, "private credit hasn't dealt with high interest rates, hasn't dealt with the recession, and it hasn't dealt with high spreads." "[Ares has] invested $150 billion into the private-credit market since we founded the firm, and we had a loss rate of one basis point.
Persons: Jamie Dimon, Dimon, Banks, hasn't, Ares, Michael Arougheti, it's, Arougheti Organizations: CNBC, Ares Management Locations: United States, America
CNN —Bella Hadid stepped out in a red keffiyeh-inspired dress at the Cannes Film Festival on Thursday, in a nod to her Palestinian heritage. Bella Hadid is seen during the 77th Cannes Film Festival. Hadid’s dress is from the archives of Michael and Hushi, a New York-based brand founded by Michael Sears and Hushidar Mortezaie. Some on social media were quick to point out that Hadid’s dress was not technically a Palestinian keffiyeh, with the colors more closely resembling those used in Jordan and Saudi Arabia. Hopefully we can all learn to stand in unity and love against genocide,” he wrote on Instagram.
Persons: CNN — Bella Hadid, Mohamed Hadid, Michael, Hushi, , Bella Hadid, Jacopo Raule, Hadid, Michael Sears, Hushidar, Carrie Bradshaw Organizations: CNN, Cannes, Cannes Film, Mortezaie, Google, City Locations: Palestinian, American, , Palestine, Gaza, Bella, New York, Jordan, Saudi Arabia
This means that the upper class in one state could still be considered middle class in another. AdvertisementEven so, being upper class may not feel like swimming in wealth. New York has the second-highest share in the upper class at nearly 21%, even though the cutoff is $159,100. AdvertisementThe list of states with the lowest shares of people in the upper class also doesn't correspond. Alaska, Utah, and Idaho have below 15% of their populations in the upper class, while Wyoming and Delaware are in the 15% range.
Persons: , they're Organizations: Service, Business, Pew, DC Locations: Washington, New Jersey, Maryland , Massachusetts, Hawaii , California, New York, Louisiana, Mississippi, West Virginia, Louisiana , Arkansas , Kentucky , Oklahoma , Alabama, New Mexico, Alaska , Utah, Idaho, Wyoming, Delaware
Read previewWhen my husband and I eloped on a cliff overlooking the Minnesota-Ontario border, I was adamant about keeping my last name. I didn't want to go through the hassle of all that paperwork, and I didn't see the need to share a last name with my spouse. Keeping my last name made me feel more independentI'd be lying if I said I didn't enjoy how keeping my maiden name made me feel. I experienced a shift in perspective when I got pregnantI was 28 when we started trying for a baby. I felt a closeness to my husband I'd never experienced before.
Persons: , I've, nodded, We'd, I'm, I'd, Little, we'd Organizations: Service, Minnesota -, Business, Pew Locations: Minnesota, Minnesota - Ontario
CNN —The United Nations’ top court has ordered Israel to immediately halt its controversial military operation in the southern Gaza city of Rafah, further increasing international pressure on Israel over its war against Hamas. Israel began a limited ground offensive in Rafah on May 7, defying calls from the international community, including the United States, not to proceed. More than a million Palestinians were taking shelter there before Israel started its operation, but the court noted that around 800,000 have since been displaced. Ambassador of the Republic of South Africa to the Netherlands, Vusimuzi Madonsela, waits for judges to enter the International Court of Justice in The Hague, Netherlands on Friday. The development comes as Israel faces mounting international and domestic pressure to end the war in Gaza.
Persons: , Nawaf Salam, , Israel, Vusimuzi, Peter Dejong, International Law Gilad Noam, Benjamin Netanyahu, Yoav Gallant, Netanyahu, Biden, Joe Biden, ” Israel, Israel’s, Israel ‘, ” Yossi Mekelberg, Eliav, Neve Gordon, Gali, Amit Aisman, Gordon Organizations: CNN, United Nations ’, Hamas, International Court of Justice, Israel, Court of Justice, International Law, Criminal Court, ICC, Israel Defense Forces, ICJ, Health Ministry, North Africa, Chatham House, Tel Aviv University, Queen Mary University of London, Times Locations: Israel, Gaza, Rafah, “ Israel, United States, Egypt, South Africa, Pretoria, Republic of South Africa, Netherlands, The Hague, Washington, Palestinian, East, London, Gali Baharav
Japanese stocks are enjoying a banner year, with foreign investors plowing into the market. Japanese investors are hesitant Japanese investors have long been skeptical of the local stock market after the asset price bubble burst in the early 1990s. Another reason Japanese investors may not be as keen on their domestic market could be the yen falling sharply. Outlook for Japanese stocks still strong Despite the recent bout of selling from local investors and the market's recent struggles, many global investors remain bullish on Japanese stocks. This is another "slow-moving but important tailwind to Japanese stocks," with more room to run, according to Zachary Hill, Horizon Investments head of portfolio management.
Persons: Goldman Sachs, Morgan Stanley, Kishida, Julian McManus, Janus Henderson, Bernstein, Zachary Hill, Raymond Chan, Chan, McManus, he's, Warren Buffett Organizations: Japan Exchange Group, Nikkei, Bank of Japan, U.S ., Ministry of Internal Affairs and Communications, Investment, Association, Prime, Nippon, Savings, U.S, Horizon Investments, Federal Reserve, Asia Pacific, Allianz Global Investors, Mitsui, Itochu, Sumitomo Locations: U.S, Japan, Asia
The result was the Mojave Desert Land Trust seed bank. In 2016, Mojave Desert Land Trust officially launched the seed bank project, which has since been described as a “Noah’s Ark” for southern California. A jar of seeds sits in one of three full refrigerators at the Mojave Desert Land Trust headquarters in Joshua Tree, California. Beau Molloy/CNN“We’ve already been able to provide seed to researchers who are studying the effects of climate change on specific species that we have in our seed bank,” Asbell adds. Beau Molloy/CNNRoughly 70,000 Joshua tree seeds are currently preserved in the seed bank, some of which could be planted in cooler locations, if needed.
Persons: birdsong, Madena Asbell, , ” Asbell, Asbell, Beau Molloy, Kelly Herbinson, ” Herbinson, hasn’t, Corina Godoy, Gerber, MDLT, CNN “ We’ve, Joshua, It’s, Seuss, Herbinson, , ” CNN’s Adeline Chen Organizations: CNN, Land Trust, MDLT, Land, Mojave, Conservation Board Locations: California, Texas, Colorado, Mojave, Joshua Tree , California
Read previewThe US Navy carrier strike group battling the Houthis in the Red Sea has fired more than 500 munitions throughout its deployment, striking the rebels directly in Yemen and intercepting their missiles and drones. The strike group has leaned on its aircraft and warships to engage targets and defend against varying threats. Sailors observe as an F/A-18E Super Hornet lands on the flight deck aboard the Nimitz-class aircraft carrier USS Dwight D. Eisenhower in the Red Sea on March 12. Aircraft from the strike group have flown more than 27,200 hours across over 12,100 sorties. The Arleigh Burke-class guided-missile destroyer USS Carney defeats a combination of Houthi missiles and drones in the Red Sea on Oct. 19.
Persons: , Dwight D, Eisenhower, Navy Carlos Del Toro, Arleigh Burke, Carney, Aaron Lau, National Intelligence Avril Haines, We've, It's Organizations: Service, US Navy, Eisenhower Carrier Strike, Ike, Business, Nimitz, Hornet, EA, Aircraft, Navy, Tomahawk, National Intelligence, Pentagon Locations: Yemen, Gulf, Aden, Iran, Hessen
Washington CNN —Mortgage rates declined for the third consecutive week in a shred of good news for Americans dealing with a still-tough housing market. Mortgage rates track the benchmark 10-year US Treasury yield, which moves in anticipation of the Federal Reserve’s decisions on interest rates. Stubbornly high inflation this year has dashed hopes that the Fed could cut interest rates in the spring or in the summer. Some Fed officials said earlier this week that they likely won’t raise interest rates again and a few have said they expect to cut rates this year. With mortgage rates still elevated, some homeowners are deciding to stay put.
Persons: Freddie Mac, inflation’s cooldown, there’s, homebuyers, ” Sam Khater, Freddie Mac’s, That’s, ” Lawrence Yun, , Yun, Joe Biden Organizations: Washington CNN —, Treasury, National Association of Realtors, Fed, Housing Locations: San Diego, Chicago, Detroit
In 2007, I added an English-sounding name to my résumé in the hopes that it could help me land a job. AdvertisementToward the end of my college experience, I started preparing to get a job in petroleum engineering. AdvertisementOver time, I began to transition back to using Mukhtar. A Nigerian colleague who was like a mentor to me started using my real name. Since Arabic is widely spoken in the Middle East, I would introduce myself to new people as Mukhtar, not Mark.
Persons: , Mukhtar Kadiri, Mukhtar, I've, Mark, Mukhtar —, I'd, Mark —, I'm Organizations: Service, Business, Texas Tech University, Employers Locations: Toronto, Edo State, Nigeria, Oman, UAE, US, Canada
A beachfront restaurant on the Spanish island of Majorca partly collapsed on Thursday, killing at least four people and injuring more than 20, officials said, with others feared trapped in the wreckage. Photos predating the accident showed that the restaurant, Medusa Beach Club, had three levels, with large terraces on the middle and upper floors that were supported by pillars. Video from the state-owned broadcaster RTVE and images from other news outlets appeared to show that at least parts of the terraces had collapsed down to the ground floor, and rescue workers in hard hats and reflective vests were picking through the debris to pull victims out. It was not clear if any of the structure behind the terraces also fell in the collapse, which occurred about 8 p.m. local time.
Organizations: Medusa Locations: Majorca
The amphibious assault ship, currently docked in New York City for Fleet Week 2024, will undergo work to carry F-35B Lightning II fighter jets. The upgrade will be "game-changer" for the capabilities and future operations of the ship, a senior officer said. AdvertisementAn F-35B Lightning II fighter aircraft sits on the flight deck of the Wasp-class amphibious assault ship USS Essex. Ken Kalemkarian/releasedThe idea of a lightning carrier has roots in the "Harrier carrier" concept, which the Bataan notably employed in Iraq in 2003. Two U.S. Air Force F-35A Lightning II aircraft operate alongside amphibious assault ship USS Bataan (LHD 5) and guided-missile destroyer USS Thomas Hudner (DDG 116) in the Gulf of Oman, Aug. 17, 2023.
Persons: , it'll, Gerald R, Ford, Trace, Chandler Harrell, Brian Cavanaugh, Cpl, Ken Kalemkarian, Thomas Hudner, Cavanaugh, Lockheed Martin Organizations: Service, Bataan, Fleet, Business, US Navy, Marine Forces Command, US Navy Nimitz, Attack Squadron, Marine Corps Air, U.S . Air Force, US, USS, Lockheed Locations: New York City, Bataan, Essex, Yuma, Ariz, Iraq, China, Australia, Japan, South Korea, Gulf of Oman, USS America
Gold prices drift lower on hawkish Fed minutes
  + stars: | 2024-05-23 | by ( )   time to read: +2 min
Gold prices extended their record rally on Monday, supported by speculative buying and continued tensions in the Middle East, which overshadowed strong U.S. job growth in March. Gold prices fell for a third straight session on Thursday after minutes from the most recent Federal Reserve meeting indicated that some officials were inclined to raise interest rates. Spot gold fell 0.3% at $2,370.74 per ounce, as of 0335 GMT, after falling more than 1% in the previous session. "Gold did take a bruising after the Fed minutes reminded investors that interest rate cuts are far from imminent," said Tim Waterer, chief market analyst at KCM Trade. Spot silver fell 0.8% to $30.52, platinum edged 0.2% lower to $1,032.54 and palladium dropped 1.1% to $988.25.
Persons: Bullion, Tim Waterer, Waterer Organizations: Reserve, KCM, Fed, Traders, Reuters Locations: ., U.S
An Airbus A321-231 from Wizz Air is taking off from Barcelona Airport in Barcelona, Spain, on Feb. 23, 2024. European low-cost airline Wizz Air forecast a higher annual profit on Thursday on the back of a strong summer and robust travel demand, after swinging to an annual net profit after three years. Wizz Air reported a net profit of 365.9 million euros ($395.90 million) for the year ended March 31, compared with a net loss of 535 million euros a year earlier. That compares with a company-compiled consensus of a 350.8 million euros. The airline expects current year net income in the range of 500 million euros-600 million euros with revenue on each available seat kilometre up in high-single digits.
Persons: Jozsef Varadi Organizations: Airbus, Wizz, Barcelona Airport Locations: Barcelona, Spain, Hungary
The movement of parents concerned by their kids' smartphone use just gained an unlikely disciple: socialite and DJ Paris Hilton. Hilton isn't alone in thinking smartphones can cause damage to young kids. "The biggest effects of social media happened during puberty, especially early puberty," he says. No social media before age 16. "There's no clear evidence that giving children access to social media early is better able to prepare them for adulthood later on," Rausch says.
Persons: DJ Paris Hilton, doesn't, Hilton, Johnathan Haidt, Z, Zach Rausch, Rausch Organizations: DJ Paris, Everything, Entertainment, NYU, Stern School of Business, CNBC
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