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☆ Is the 'vibecession' here to stay? Here's what experts say
▼ + stars: | 2024-11-07 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

While the Federal Reserve is still concerned about inflation, "we're seeing these signs of weakness in the labor market," Scanlon said. "This suggests that the labor market remains firm despite signs of weakening," J.P. Morgan noted. 'What the bond market is telling us'The stock market rallied after the presidential election results. That's what the bond market is telling us." Depending on what policies are enacted under Trump's second term, the inflation problem might get worse, experts say.

Persons: Brett House, Scanlon, There's, Mark Hamrick, J.P, Morgan, Hamrick, Trump Organizations: Columbia Business School, Bureau of Labor Statistics, Federal Reserve, of Labor Statistics, BLS, Dow Jones, Nasdaq, Treasury, Trump Locations: U.S, China

Zients also made clear that President Joe Biden had directed the Secret Service to provide the highest level of protection for Trump, the source said. A subsequent letter from Wiles to acting Secret Service Director Ronald Rowe reviewed by NBC News confirmed several of the campaign’s requests. The Trump campaign also requested that special operations forces be assigned to protect Trump, according to two U.S. officials. A defense official told NBC News that the “department continues to provide enhanced support to the U.S. Secret Service” for the presidential and vice presidential candidates. Another source said Trump is receiving the same level of protection as Biden, so the campaign should not expect more.

Persons: Donald Trump’s, Susie Wiles, Jeff Zients, Zients, Wiles, Joe Biden, Ronald Rowe, Trump, Steven Cheung, Mike Waltz, Donald Trump, Anthony Guglielmi, ” Guglielmi, Guglielmi, ”, Biden, Lloyd Austin Organizations: NBC News, Trump, White House, Department of Homeland Security, Service, Secret Service, Boeing, Secret, Department of Defense, Pentagon, U.S . Northern Command Locations: Butler , Pennsylvania, West Palm Beach , Florida, Iran, U.S

☆ As Trump returns to assassination attempt site, Secret Service is “at a breaking point,” officials say
▼ + stars: | 2024-10-05 | by ( Sarah Fitzpatrick | Sarah Fitzpatrick Is A Senior Investigative Producer | Story Editor For Nbc News. She Previously Worked For Cbs News | ) www.nbcnews.com time to read: +11 min

As Donald Trump visits Butler, Pa., today for the first time since he narrowly survived an assassination attempt there, current and former Secret Service agents fear another security lapse. One law enforcement official told NBC News that the Secret Service is “stretched virtually to the breaking point.”“I hate to say it, they are going to hit rock bottom fast” said one former Secret Service agent. “The Secret Service is upside down on that, maybe operational 99% and 1% training," the former official said. Current and former officials are also concerned about a mass exodus of Secret Service personnel over the next 18 months. U.S. officials say that the challenges at the Secret Service will require a range of changes to ensure long-term stability.

Persons: Donald Trump, Butler, ”, ” Anthony Guglielmi, Paul Eckloff, Obama, President Trump, Eckloff, Camp David, ” Guglielmi, Ron Rowe, Barack Obama, “, Daniel Slim, Kamala Harris, it’s, you’re Organizations: Secret, Secret Service, NBC News, Trump, Service, Agents, United Nations General Assembly, Homeland Security, Getty, U.S . Navy Locations: Pa, “, United States, Camp, New York, AFP, U.S, ”

☆ Iran steps up influence campaign aimed at US voters with fake news sites, Microsoft says
▼ + stars: | 2024-08-09 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +5 min

CNN —Iranian operatives have ramped up their attempts to influence and monitor the US presidential election by creating fake news outlets targeting liberal and conservative voters and by trying to hack an unnamed presidential campaign, Microsoft said in research published late Thursday. Microsoft said it notified the campaign of the hacking attempt, but declined to say publicly which campaign it was. CNN has requested comment from the Trump campaign. The Iranian, Russian and Chinese governments routinely deny allegations of election influence operations. As president, Trump ordered the killing of top Iranian general Qasem Soleimani, and he withdrew from a multilateral deal aimed at curbing Tehran’s nuclear program.

Persons: Donald Trump, ” Clint Watts, ”, Kamala Harris ’, Trump, Joe Biden’s, Russia “, China “, “, Qasem Soleimani Organizations: CNN, Iranian, Microsoft, Islamic Revolutionary Guard Corps, CIA, FBI, National Intelligence, Russian, Ukraine, Service, Department Locations: MAGA, Iran, Savannah , Georgia, Russian, Ukrainian, Trump, Russia, U.S, China

☆ Iran using covert influence campaign to undermine Trump candidacy, US intelligence says
▼ + stars: | 2024-07-29 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +4 min

CNN —Iran is using covert social media activity and related influence operations in an effort to undercut the candidacy of former President Donald Trump, a US intelligence official said Monday in an updated assessment of threats to the November election. Iran’s preference for a US presidential candidate has not changed since 2020, the ODNI official said. In the 2020 election campaign, Iran “carried out a multi-pronged covert influence campaign intended to undercut former President Trump’s reelection prospects,” according to a declassified US intelligence report. The Russian government regularly denies US allegations of election influence. China “probably does not plan to influence the outcome” of the US presidential election, but US intelligence is monitoring the possibility that China-linked propagandists and influence actors could “denigrate down-ballot candidates,” the updated assessment says.

Persons: Donald Trump, ODNI, Iran “, Trump’s, haven’t, Joe Biden, “, Trump, Qasem Soleimani, Thomas Matthew Crooks, of National Intelligence Avril Haines, ” ODNI, China “, Xi Jinping, Biden Organizations: CNN, National Intelligence, Trump, United Nations, Service, stoke, of National Intelligence, Russian Embassy Locations: Iran, Tehran, United States, Moscow, U.S, Iranian, Pennsylvania, Israel, Gaza, Russia, Russian, Washington ,, China

How to watch the Olympics Opening Ceremony in the USThe Olympics Opening Ceremony will air live at 1:30 p.m. Check price at FuboHow to watch the Olympics Opening Ceremony in the UKThe Olympics Opening Ceremony will air on BBC One, which means that British viewers will be able to live stream the ceremony for free through BBC iPlayer. How to watch the Olympics Opening Ceremony in AustraliaThe Olympics Opening Ceremony will live stream for free on 9Now in Australia. How to watch the Olympics Opening Ceremony in FranceFrance.TV is the French home of the Olympics Opening Ceremony. Enjoy the Olympics Opening Ceremony.

Persons: We've, LeBron James, Coco Gauff, Peacock, we've, ExpressVPN Organizations: Business, Paris Olympics, of Nations, US, Eiffel, NBC, Fubo, BBC, Eurosport, Discovery Locations: Paris, United States, Australia, France, 9Now, France.TV

According to the FBI’s analysis of Thomas Matthew Crooks’ laptop, Crooks searched how far Lee Harvey Oswald was when he shot and killed President John F. Kennedy in 1963. The search was on July 6, the same day the Trump rally was announced. “That’s a search that’s obviously significant in terms of his state of mind,” the FBI director added. The drone was in the air for approximately 11 minutes, and investigators believe Crooks watched a live feed from the drone on his phone. The FBI is investigating the shooting as both an attempted assassination and as a potential act of domestic terrorism.

Persons: Donald Trump’s, John F, Kennedy, Christopher Wray, Thomas Matthew Crooks, Crooks, Lee Harvey Oswald, “, Oswald, ’ ” Wray, Butler, ” Shooter, Trump, Wray, ” Wray, Gun, –, Shooter, Iran Wray, Donald Trump, it’s, Soleimani, ”, Schiff, FBI’s, Adam Schiff, ” Schiff Organizations: CNN, Trump, FBI, ”, Service, Democratic Rep, Republican Locations: Butler , Pennsylvania, Iran, ”, United States

☆ Secret Service locks down Mar-a-Lago as it amps up security around Trump
▼ + stars: | 2024-07-20 | by ( Lauren Edmonds | Kenneth Niemeyer | ) www.businessinsider.com time to read: +1 min

The US Secret Service increased security near Donald Trump's Mar-a-Lago Club in Palm Beach. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe US Secret Service is bolstering security around Donald Trump's Mar-a-Lago Club after last weekend's assassination attempt. "The US Secret Service has made this decision, neither Town Officials nor the Town Council," an alert said. "The Town is working closely with the US Secret Service to minimize the impacts of this road closure."

Persons: Donald Trump's Mar, Trump, — Organizations: Service, Lago, Lago Club, Palm Beach, Town Council, US, Business Locations: Palm Beach

☆ Iran plot to kill Trump prompted Secret Service to boost protection before rally shooting
▼ + stars: | 2024-07-16 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Republican presidential candidate and former U.S. President Donald Trump with his bloodied face is assisted by the Secret Service as multiple shots rang out during a campaign rally at the Butler Farm Show in Butler, Pennsylvania, U.S., July 13, 2024. The Secret Service increased its protection for Donald Trump in recent weeks after U.S. officials obtained intelligence about an Iranian plot to assassinate the former president, three officials briefed on the matter told NBC News on Tuesday. "In response, Secret Service surged resources and assets for the protection of former President Trump. Anthony Guglielmi, the chief spokesman for the Secret Service, in a statement to CNBC, said, "The Secret Service and other agencies are constantly receiving new potential threat information and taking action to adjust resources as needed." "We cannot comment on any specific threat stream other than to say that the Secret Service takes threats seriously and responds accordingly," Guglielmi said.

Persons: Donald Trump, Thomas Crooks, Crooks, USSS, Trump, Anthony Guglielmi, Guglielmi, Adrienne Watson, Watson, Qassem Organizations: Service, NBC, Republican, CNN, National Security Council, United States, Secret Service, Secret, CNBC, National Security, NBC News Locations: Butler , Pennsylvania, U.S, Pennsylvania, Iran

☆ You can now get Ozempic at Costco — but don't expect big savings
▼ + stars: | 2024-04-03 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Costco is now selling the weight loss drug Ozempic through a partnership with health startup Sesame. Still, that doesn't cover the cost of the GLP-1 drug, which has gained popularity but can be costly. Now, you can get a prescription for the weight loss drug Ozempic through the retailer, too. For $179, members can get a prescription for the GLP-1 weight loss drug plus a meeting with a doctor or specialist. Ozempic, Wegovy, and other GLP-1 drugs have gained popularity among people trying to lose weight over the last few years.

Persons: —, Michael DiLorenzo, DiLorenzo, Sesame, weren't, Michael Botta Organizations: Costco, Service, CNN, Business, Sesame, Novo Nordisk Locations: Denmark

UPS will become the primary air cargo provider for the United States Postal Service. The Atlanta shipping company said Monday that it had received an air cargo contract from the U.S. UPS will move the majority of air cargo in the U.S. for the postal service following a transition period, according to UPS. USPS’s current air cargo contract with FedEx Corp. is set to expire in late September. Last month the International Air Transport Association said that total demand for air cargo, which is measured in cargo ton-kilometers, climbed 18.4% in January compared with the prior-year period.

Persons: Brie Carere, Louis DeJoy Organizations: United States Postal Service, U.S . Postal Service, UPS, FedEx Corp, FedEx, USPS, FedEx Express, U.S . Mail, International Air Transport Association, United Parcel Service Inc Locations: Atlanta, U.S, Puerto Rico, airfreight

☆ This payments firm has Nvidia-like profit margins — and it's even more sustainable, investor says
▼ + stars: | 2024-04-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Gooch-Peters pointed to Visa — which has a 60% operating profit margin — as a more sustainable investment opportunity. This creates a strong competitive moat and helps to sustain the company's high profit margins over time. Gerry Fowler, chief European equity strategist at UBS, echoed the sentiment about the importance of a company's competitive moat while picking stocks. The UBS strategist pointed to the attempts of Apple, then the world's biggest company, to break into the payments network sector. The UBS strategist also cautioned that impenetrable moats might sometimes pose a downside risk to investors.

Persons: Hannah Gooch, Peters, you've, Gooch, London Business School . Gooch, " Gooch, Gerry Fowler, Fowler, Flower Organizations: Nvidia, Sanlam Investments, CNBC, London Business School, Visa, Sanlam's, Quality, UBS, Apple, world's, MasterCard, Apple Card, Mastercard, U.S

☆ MTA Board passes final vote on congestion pricing plan
▼ + stars: | 2024-03-27 | by ( Mark Morales | ) edition.cnn.com time to read: +3 min

CNN —Congestion pricing is coming to New York soon with transit officials officially approving the toll structure at a hearing on Wednesday. New York City will soon join other cities such as London, Stockholm and Singapore, with the new congestion pricing plan. Passenger and commercial vehicles will now pay $15 once they enter the “congestion relief zone,” which is below 60th Street in Manhattan. “One of the biggest goals of this is to finally attack congestion but the other side of the equation is to invest more in transit,” Lieber said. Despite the approval and expected implementation of the tolling plan, multiple lawsuits, such as one spearheaded by New Jersey Gov.

Persons: Janno Lieber, ” Lieber, ”, Phil Murphy, “ Organizations: CNN, “, MTA, New York City Department of Education, Taxi, Limousine Commission, New Jersey Gov Locations: New York, . New York City, London, Stockholm, Singapore, Manhattan, York, United States, Long

☆ Restaurants Across America Are in Crisis Because of Stubborn Diners
▼ + stars: | 2024-02-22 | by ( Corey Mintz | ) www.businessinsider.com time to read: +13 min

Unlike most in rich countries, American restaurant servers depend primarily on tips for their income. You might not know “dynamic pricing” by name, but if you’ve ever booked a flight, hotel room, or gone to the movies on a Tuesday, you understand it intrinsically: Dynamic pricing is when the price of goods or services fluctuates based on demand. “When confronted with dynamic pricing, customers react negatively,” a 2022 study said . In late 2023, after 35 years, Bayless decided to try dynamic pricing, raising the dinner menu on weekends from $165 to $185. Nick Kokonas, who cofounded Toast, also uses dynamic pricing at his Chicago restaurants.

Persons: Toast, they’re, Tipping, Michael Lynn, Zachary Brewster, Lynn, L’Oca, “, ” Adam Orman, we’ve, haven’t, Crudo, you’ve, Sherri Kimes, Rick Bayless, Bayless, It's, ” Bayless, ”, Roger Yang, Nick Kokonas, Ari Weinzweig, ” Weinzweig, Yang, Corey Mintz Organizations: National Restaurant Association, Bureau of Labor Statistics, waitstaff, Cornell University, “, Michelin Locations: America, Italian, Austin, Angeles, Chicago, Toronto, Ann Arbor , Michigan

☆ Here are Thursday's biggest analyst calls: Apple, Nvidia, Snowflake, Coinbase, Skechers, Tesla, Berkshire Hathaway & more
▼ + stars: | 2024-02-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are Thursday's biggest calls on Wall Street: Macquarie downgrades Sony to neutral from buy Macquarie said it sees a more balanced risk/reward for the entertainment company. "With Sony near our target price and market expectations at risk given lacklustre FY3/25 guidance, we are downgrading to Neutral." Deutsche Bank reiterates Rocket Lab as a top pick Deutsche said it's standing by its bullish status on the space company. " Bank of America initiates Super Micro as buy Bank of America said the server and storage solutions company is an AI beneficiary. Bank of America reiterates Uber as buy Bank of America said it's feeling more bullish after the company's investor day.

Persons: Macquarie, Davidson, DA, Piper Sandler, Piper, KeyBanc, Evercore, Skechers, Price, Bernstein, underperform Bernstein, Redburn, Eastman, Morgan Stanley, Wells, Morgan Stanley downgrades, Guggenheim, Generac, Uber, Tesla, KBW, Berkshire Hathaway Organizations: Macquarie, Sony, JPMorgan, Deutsche Bank, Deutsche, Nvidia, Citi, FedEx, Apple, HSBC, GE Healthcare, GE, Crypto, UBS, Downside, Eastman Chemical, Comcast, Cisco, Cliffs, Steel, " Bank of America, Air Products, of America, Linde, Bank of America, Micro, Inc, Guggenheim, Mizuho, Energy, BMO, CNBC, & $ Locations: Nashville, China, Morgan Stanley downgrades Cleveland

UPS slid before the opening bell after a mixed quarter and an outlook for this year that was weaker than expected. Last year union members at UPS voted to approve a tentative contract agreement, putting a final seal on contentious labor negotiations that threatened to disrupt package deliveries for millions of businesses and households nationwide. United Parcel Service Inc. anticipates 2024 revenue in a range of approximately $92 billion to $94.5 billion. UPS also posted fourth-quarter revenue of $24.92 billion, below analysts' estimates of $25.31 billion and a decline of 7.8% from the prior year. On an adjusted basis, quarterly earnings per share totaled $2.47, a penny above the average estimate, according to FactSet.

Organizations: UPS, United Parcel Service Inc

Thankfully, this Cyber Monday Peacock deal can save you a bit of money by bringing its Premium plans down to a more affordable price. There's also an ad-free Premium Plus plan that costs $8 a month for 12 months, or $80 for an annual plan. To get this deal, use the promo code BIGDEAL for the monthly discount or code YEARLONG for the annual price. However, Peacock ended up reducing the price again on Cyber Monday, bringing it to only $1 a month. Peacock is our pick for the best streaming service for fans of NBC programming.

Persons: There's, you've, Peacock, we're, It's Organizations: NBC, WWE, Netflix, Hulu

Apple (AAPL), Amazon (AMZN) and Nvidia (NVDA) made news heading into the end of this holiday shortened trading week. AAPL YTD mountain Apple (AAPL) year-to-date performance The news: Apple smartphone sales in China reportedly lagged those of Hauwei and Xiaomi during the country's recent Singles Day shopping event. Yes, there is smartphone competition to the iPhone in China, but Apple remains an aspirational brand there (and everywhere) because of its pricing, product quality and closed ecosystem. Nvidia garners around 20% of its revenue from China, and continues to face competition from Chinese companies like Huawei. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Daniel Ives, Ives, we're, it's, Jim Cramer's, Jim Cramer, Jim Organizations: Apple, Nvidia, Reuters, Counterpoint Research, Huawei, Xiaomi, Miami Dolphins, New York Jets, National Football, NFL, Amazon, CNBC, Getty Locations: China, Asia, India, Taipei, Taiwan

☆ Some Chick-fil-A customers can now skip the drive-thru and have their chicken sandwiches delivered by drone
▼ + stars: | 2023-11-20 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Chick-fil-A began testing drone delivery in Texas and North Carolina last year. Retailers and restaurants testing drone service include Walmart, Amazon, and Jersey Mike's. Chick-fil-A restaurants in Granbury, Texas, and Durham, North Carolina, have been testing drone deliveries since September 2022. AdvertisementIn Florida, customers within the restaurant's drone drop zone can order delivery by drone through the Chick-fil-A app. Drone delivery is still experimental in the US but is catching on among top retailers and restaurant chains.

Persons: —, Chick, Cane's, Papa Organizations: Florida . Retailers, Walmart, Amazon, Service, Papa Johns , Jersey Mike's Subs, Cream, Little Caesars, Starbucks Locations: Texas, North Carolina, Florida, Jersey, Brandon, Granbury , Texas, Durham , North Carolina, Virginia Beach , Virginia, Tel Aviv, Papa Johns , Jersey, Little, Southern California, California, California , Texas

Airbnb said that it will roll out what it calls “Guest Favorites” this week. He said the unpredictability of listings is the biggest reason why someone would choose a hotel room over Airbnb. Airbnb is also encouraging hosts to create photo tours of their property, which Chesky said will use AI to organize photos by room. Earlier this year, Airbnb began discouraging hosts from charging exorbitant cleaning fees, a major complaint of users. The site lets visitors filter searches by all-in pricing, which includes the fees, although it is not the default setting.

Persons: Airbnb, Brian Chesky, Chesky, “, ” Chesky, ”

☆ US restaurant employment recovers to pre-pandemic levels
▼ + stars: | 2023-10-06 | by ( Amina Niasse | ) www.reuters.com time to read: +2 min

NEW YORK, Oct 6 (Reuters) - U.S. restaurant employment reached pre-pandemic levels in September for the first time in three-and-a-half years, according to a report released Friday, signaling a potentially broader recovery for the leisure and hospitality industry. The gains in restaurant and bar employment last month were almost double the average of 37,000 jobs added monthly over the past year. Food service employment was among the most impacted by the COVID-19 pandemic. While the food industry has picked up in payrolls, leisure and hospitality overall has struggled to regain pre-pandemic levels of employment in a tight labor market. The hotel accommodations and the amusement and gambling services industries remain below their February 2020 employment levels, with hotel employment still 10% below where they were on the eve of the health crisis.

Persons: ”, Julie Su, Amina Niasse, Rod Nickel Organizations: of Labor Statistics, BLS, Employers, Labor, Workers, Thomson Locations: payrolls

☆ Former Trump aide Cassidy Hutchinson claims Rudy Giuliani groped her on day of attack on Capitol
▼ + stars: | 2023-09-20 | by ( Eric Bradner | ) edition.cnn.com time to read: +4 min

CNN —Cassidy Hutchinson, the former Trump White House aide, claims in a new book that Rudy Giuliani groped her backstage at the rally that preceded the former president’s supporters’ insurrection at the US Capitol on January 6, 2021. Rudy Giuliani speaks from The Ellipse near the White House on January 6, 2021. Waving a stack of documents, he moves towards me, like a wolf closing in on its prey,” Hutchinson writes. I lower my eyes and watch his free hand reach for the hem of my blazer,” Hutchinson writes. Giuliani’s legal issuesHutchinson’s claims come as Giuliani faces a series of legal issues, including millions of dollars in mounting legal bills.

Persons: CNN — Cassidy Hutchinson, Rudy Giuliani, Hutchinson, Donald Trump’s, Mark Meadows, Giuliani, Ted Goodman, Cassidy Hutchinson, ” Goodman, Rudy Giuliani —, ”, John Eastman, Brendan Smialowski, ” Hutchinson, “, Rudy, ’, Meadows, Fani Willis, Davidoff Hutcher, Trump Organizations: CNN, Trump White House, Capitol, The Guardian, Trump, Getty, Eastman, New, Fulton, Trump’s Locations: New York City, AFP, Cheshire, Fulton County, Georgia

☆ UPS CEO says new labor deal with Teamsters to cost less than $30 bln - CNBC
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

UPS vehicles are seen at a facility in Brooklyn, New York City, U.S., May 9, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCompanies United Parcel Service Inc FollowSept 12 (Reuters) - United Parcel Service's (UPS.N) new five-year deal with Teamsters-represented workers will cost less than the $30 billion that was outlined by the union, Chief Executive Officer Carol Tome said in a CNBC interview on Monday. The contract, which covers about 340,000 UPS workers in the United States, would increase wage and benefit costs at a 3.3% compound annual growth rate over the life of the agreement, UPS Chief Financial Officer Brian Newman said earlier. Last month, the Atlanta-based company cut its full-year revenue and profitability targets, citing higher-than-expected labor costs as well as business lost during the tumultuous contract talks with Teamsters. Reporting by Priyamvada C and Baranjot Kaur in Bengaluru; Editing by Varun H K and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Carol Tome, Brian Newman, Newman, Priyamvada, Baranjot Kaur, Varun, Anil D'Silva Organizations: REUTERS, United Parcel Service, Teamsters, CNBC, UPS, Atlanta -, Thomson Locations: Brooklyn , New York City, U.S, United States, Atlanta, Bengaluru

☆ UPS estimates new contract with Teamsters to increase costs 3.3%
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] A United Parcel Service (UPS) vehicle reverses into a facility in Queens, New York City, U.S., May 9, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsCompanies United Parcel Service Inc FollowSept 11 (Reuters) - Parcel Service (UPS.N) said on Monday its new five-year contract covering some 340,000 Teamsters-represented workers in the United States would increase wage and benefit costs at a 3.3% compound annual growth rate over the life of the agreement. The new contract expires on July 31, 2028, and 46% of wage and benefit costs from that agreement will hit this year, UPS Chief Financial Officer Brian Newman said in a recorded message. Contract-related costs in the second half of 2023 are expected to be about $500 million more than UPS expected, Newman said. Reporting by Kannaki Deka in Bengaluru and Lisa Baertlein in Los Angeles; Editing by Sriraj Kalluvila and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Brian Newman, Newman, Kannaki, Lisa Baertlein, Sriraj Kalluvila, Lisa Shumaker Organizations: United Parcel Service, REUTERS, Parcel Service, Teamsters, UPS, Thomson Locations: Queens , New York City, U.S, United States, Bengaluru, Los Angeles

☆ Bank of America says this Chinese EV stock can rally nearly 50% thanks to a partnership with Volkswagen
▼ + stars: | 2023-08-21 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Bank of America thinks XPeng's partnership with Volkswagen is enough to significantly improve the company's outlook. The firm upgraded the Chinese electric vehicle maker to buy from neutral on Monday with a $22 per share price target. The analyst added that she also expects XPeng to turn a profit 2025, compared to a previous forecast which called for a loss. XPEV YTD mountain XPeng has climbed more than 50% from the start of the year. To be sure, the stock dropped more than 4% after XPeng reported a larger-than-expected net loss for the second quarter .

Persons: Ming Hsun Lee, XPeng, Lee, — CNBC's Michael Bloom Organizations: of America, Volkswagen, VW

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