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☆ Fed caution may be justified if the labor market starts to deteriorate. Here's why that could happen
▼ + stars: | 2024-04-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

A strong jobs outlook raises the potential of greater inflation pressures, meaning the central bank might be less eager to ease policy. Indeed, there are some signs that the labor market's strength may not be as robust as the headline nonfarm payrolls numbers indicate. Economists both on Wall Street and at the Fed suspect swelling immigration numbers are playing a role in boosting employment and keeping the labor market so tight. With political clamoring intensifying for the U.S. to tighten its border controls, the resilience of the labor market then could be jeopardized depending on how large a role immigration is playing. "Another strong report raises the potential that the deterioration in labor markets we have been expecting will be avoided.

Persons: nonfarm, Seema Shah, Shah, Mohamed El, There's, Goldman Sachs, Michelle Bowman, Bowman, Andrew Hollenhorst Organizations: Federal Reserve, Labor, Asset Management, Allianz, Fed, CNBC, Wall, Congressional, Citigroup, Citi Locations: it's, Italy, U.S, South America, Central America, Mexico

☆ Private payrolls increased by 184,000 in March, better than expected, ADP says
▼ + stars: | 2024-04-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Private sector job growth expanded in March at its fastest pace since July 2023, indicating continuing buoyance in the U.S. labor market, payrolls processing firm ADP reported Wednesday. Those switching jobs saw gains of 10%, also higher than in previous months. ADP, whose survey is based on payroll data analysis of more than 25 million workers, does not track government jobs. The ADP estimate serves as a precursor to the Labor Department's nonfarm payrolls survey, set to be released Friday, though the numbers often diverge sharply. The department's Bureau of Labor Statistics reported job growth of 275,000 in February, or 120,000 more than even ADP's revised figure.

Persons: Dow Jones, Nela Richardson Organizations: Companies, Labor, department's Bureau of Labor Statistics, Federal Reserve Locations: U.S

☆ Regenerative tourism is the new gold standard for resort development. This destination on the Red Sea is leading the way.
▼ + stars: | 2024-04-03 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

A development organization in Saudi Arabia is changing perceptions of how regenerative tourism can work. He took a different course: Building a vertically-integrated real estate company to deliver The Red Sea. Across its two larger destinations, The Red Sea and AMAALA, RSG is creating 120,000 new jobs, directly and indirectly. Destinations like The Red Sea and AMAALA aim to build a broader, more leisure-focused tourism sector. This article was created by Insider Studios with Red Sea Global.

Persons: John Pagano, Pagano, St Regis, RSG, RSG —, King Abdullah, I've, University of Prince Mugrin, We're Organizations: Red Sea, St, Ritz, Carlton Reserve, imminently, King, King Abdullah University of Science and Technology, KAUST, Saudi, Hospitality, University of Prince, Tourism, Insider Studios, Sea Locations: Saudi Arabia, London, Bahamas, RSG, Central, Saudi, Red

☆ Billionaire hedge-fund boss Steve Cohen says a 4-day workweek is coming — and it's part of why he made a big investment in golf
▼ + stars: | 2024-04-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

A four-day workweek is inevitable thanks to AI, the billionaire hedge-fund boss Steve Cohen says. AdvertisementA four-day week is coming to the workplace, the hedge-fund giant Steve Cohen said. "My belief is a four-day workweek is coming," Cohen said. While Cohen expects a four-day workweek to eventually become reality, it probably won't for his employees or anyone else employed by investment firms. That is, unless the stock market also decides to adopt a four-day workweek.

Persons: Steve Cohen, Cohen, " Cohen, workweek Organizations: Asset Management, CNBC, New York Mets, PGA

☆ Some people are being given thousands of dollars with no strings attached in universal basic income trials. They mostly spend the cash wisely.
▼ + stars: | 2024-04-03 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +7 min

Interest in universal basic income has grown due to the pandemic, Elon Musk, Sam Altman, and economic pain. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementYet a common question and concern about UBI remains how people spend the money. Related storiesThe Guaranteed Income Pilots Dashboard , a joint project from the Stanford Basic Income Lab and the Center for Guaranteed Income Research, pulls together data from more than 30 pilot programs in the US involving nearly 8,300 participants. GiveDirectly, a nonprofit, is providing universal basic income to 20,000 people across 200-odd royal villages in Kenya over 12 years.

Persons: Elon Musk, Sam Altman, —, It's, Karl Widerquist, Fabian Wendt, Rebecca Hasdell, UpTogether, Monique Gonzalez, Stephanie Hendon, Widerqist, Matt Bruenig, Douglas MacKay, Chapel Hill, MacKay Organizations: Service, Georgetown University, Qatar, Stanford, Income, Center, Research, UNC, Chapel Locations: Virginia, Kenya, San Antonio , Texas

☆ Bally's shareholders wage battle over ownership, 'unfunded development projects'
▼ + stars: | 2024-04-02 | by ( Contessa Brewer | ) www.cnbc.com time to read: +5 min

In this article BALY Follow your favorite stocks CREATE FREE ACCOUNTAn exterior view shows the Tropicana Las Vegas at dusk on March 29, 2024 in Las Vegas, Nevada. David Becker | Getty ImagesAs the famous Tropicana in Las Vegas closes its doors Tuesday, its operator Bally's Corporation is facing its own existential battle. Standard General owns about 23% of Bally's stock, it said last month. An exterior view shows the Tropicana Las Vegas on March 29, 2024, in Las Vegas, Nevada. Bally's market cap stands at little more than half a billion dollars.

Persons: David Becker, Soo Kim, Kim, it's, Dan Fetters, Edward King, Fetters, King, Bally's, It's, George Rose, Chris Grove, Jim Murren, Jess Golden Organizations: Tropicana, Getty, Bally's, Standard, Growth Capital, Las, Trump, Tahoe, Chicago, Major League Baseball's Athletics, Leisure Properties, New, Acies, MGM Resorts International, CNBC Locations: Las Vegas , Nevada, Las Vegas, New York City, Stateline , Nevada, Seminole, Florida, Nevada, Oakland, Vegas

☆ Dakota Johnson's personal trainer shares the supplements he takes, used to take, and would never take
▼ + stars: | 2024-03-31 | by ( Rachel Hosie | ) www.businessinsider.com time to read: +7 min

He shared the five supplements he takes and those would never take with Business Insider. AdvertisementA top personal trainer who works with celebrities including Dakota Johnson shared the five supplements he takes every day with Business Insider. AdvertisementWorthington also avoids anything that claims to counteract blood sugar spikes. "Firstly, blood sugar spikes are a perfectly natural and essential part of metabolism," he said. "Wanting to eat food without elevating blood sugar is a little like hoping to exercise without elevating heart rate and blood pressure.

Persons: Luke Worthington, Worthington, —, Dakota Johnson, Naomi Campbell, Jodie Comer, Luke Worthington Worthington, Rhiannon Lambert, I'm, isn't, Sophie Medlin, Katey Davidson Organizations: Business, Service, American Medical Association Locations: London, thermogenesis, cayenne

☆ Here's how I prepared for my 15-hour long-haul flight to Hong Kong
▼ + stars: | 2024-03-30 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Before I share how I survived my 15-hour flight, I have to let you in on my personal Q2 challenge: I'm determined to eat less ultra-processed foods. Now the city has reimagined itself as a tourist destination, with a waterpark, an artificial beach, and a golf course. According to one estimate, Americans actually have about four to six hours of leisure time every day. AdvertisementSee the full listMore of this week's top reads:The Insider Today team: Joi-Marie McKenzie, editor-in-chief, in New York.

Persons: —, you'll, Let's, Greta Gerwig's, Barbie, Jenny Chang, Rodriguez, Marielle, Marielle Descalsota, Daniel Chaney, Alexa Campbell, Henry Ammann, Alyssa Powell, Beyoncé, Carter, Buckle, Tanner Adell, who's, Javier Zayas, there's, Tyler Le, Ewan McGregor's, Lisa Frankenstein, Zelda Williams, Robin Williams, Joi, Marie McKenzie, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan Organizations: Service, Business, Canberra Airport, Getty, Art Basel, BI, Visa, Mastercard —, Mastercard Forest City, Paramount, Netflix Locations: Hong Kong, Australia, Johor, Malaysia's Forest, Forest City, Texas, Moscow, New York

☆ I am a 'Chopped' champion. Here are 10 things even superfans don't know about the show.
▼ + stars: | 2024-03-28 | by ( Brooke Siem | ) www.businessinsider.com time to read: +8 min

I'm a Food Network "Chopped" champion, and I was surprised by a few things when I was on the show. AdvertisementArguably one of the most successful cooking-competition shows of all time, Food Network's "Chopped" is a television phenomenon — which is why I'm still surprised I won. Here are 10 things that surprised me about the "Chopped" competition that even die-hard fans don't know. AdvertisementAs legend has it, there's one bowl in the "Chopped" kitchen that spells doom for the chef who uses it. Food NetworkWhether you get chopped after the appetizer round or win the whole thing, all the "talking-head" interviews on "Chopped" are filmed after your competition is over.

Persons: —, I'm, There's, Ted Allen, David Lang, there's, it's, Zac Young, Maneet Chauhan, Katrina Markoff, doesn't Organizations: Food, Service

☆ A glut of cheap Chinese goods is flooding the world and stoking trade tensions
▼ + stars: | 2024-03-28 | by ( Hanna Ziady | Laura He | ) edition.cnn.com time to read: +8 min

The oversupply of Chinese goods in key industries is stoking tensions between the world’s biggest manufacturer and its major trading partners, including the United States and the European Union. From clothes to carsChina’s exports of low-priced goods got a boost after it joined the World Trade Organization (WTO) in 2001. “What China exports is advanced production capacity that meets the needs of foreign customers,” Xinhua News Agency wrote. US President Joe Biden recently pledged to investigate whether imports of Chinese vehicles pose a national security threat. “But perhaps more importantly, persistent oversupply and low prices of Chinese goods will add to geopolitical tensions and keep the threat of tariffs and counter-tariffs alive,” she wrote in a recent note.

Persons: Hong Kong CNN —, ” Jens Eskelund, Xi Jinping, Huang Jingwen, ” Eskelund, Brad W, ” Markus W, Voigt, China’s BYD, Warren Buffett, Setser, Li Qiang, “, ”, Joe Biden, Jennifer McKeown, Shawn Deng Organizations: Hong Kong CNN, European Union, European Union Chamber of Commerce, Zero, of, People, China’s National Bureau of Statistics, Council, Foreign Relations, World Trade Organization, Aream Group, Tesla, Getty, China Development Forum, Xinhua, Agency, ., EV, European Commission, WTO, Capital Economics Locations: Hong Kong, United States, China, Europe, Beijing, Xinhua, China's Shandong, . Washington, Brussels

There are more heavily trafficked routes across the Baltimore Harbor than the Francis Scott Key Bridge. The Harbor Tunnel carries double the daily traffic of the Key Bridge and the Fort McHenry Tunnel much more than that. The six men who are missing were part of this tradition of working Baltimore: members of a construction crew, working overnight hours filling potholes on the bridge. One day in 1977, Mr. Metzger said, his father, a truck driver, was coming back home from his route and happened upon the bridge’s ribbon cutting. And the Key Bridge is gone.”

Persons: Francis Scott Key, “, ”, Kurt L, Mr, Schmoke, Rafael Alvarez, Dali, Jim Lo Scalzo, Curtis Bay, Alvarez, Baltimoreans, James Metzger, Metzger, Metzger’s Organizations: Fort, University of Baltimore, Chesapeake, Washington , D.C, Bethlehem Steel Plant, Amazon Locations: Baltimore, Fort McHenry, Baltimore’s, Maryland, Washington ,, New York City, Shutterstock

☆ Remote workers who switch to in-office jobs are boosting their pay by as much as 30%, says new research
▼ + stars: | 2024-03-27 | by ( Morgan Smith | ) www.cnbc.com time to read: +5 min

Salaries for fully in-office roles are climbing in the United States. As of March 2024, hybrid roles pay $59,992 on average, in 2023, that number was $54,034, ZipRecruiter reports. Remote jobs now pay $75,327, but in 2023, they paid an average $69,107. Given how competitive the job market has been in recent months — especially for remote roles — Bui says it's a "fair trade-off." It's too soon to tell if higher salaries will be enough to convince people to choose an in-office job over a remote offer.

Persons: switchers, Johnny Bui, Bui, — Bui, it's, Julia Pollak, ZipRecruiter's, Pollak, It's Organizations: United States . Companies, CNBC, Visa, LinkedIn, Employees, Owl Labs, Employers Locations: United States, U.S, Austin , Texas

☆ Americans have no idea how to use their free time
▼ + stars: | 2024-03-26 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +11 min

It's true that Americans are overworked, overstressed, and generally awful at unplugging from work, two time-use researchers told Business Insider. But the vast majority of Americans' leisure time is spent — you guessed it — in front of the television. Watching TV is the most popular leisure activity, accounting for an average of 2.8 hours a day — more than half of all Americans' leisure time. Americans' spend more time watching TV than any other leisure activity. AlavinphotoSexism and the safety netThere is also a gendered element at play when it comes to Americans' leisure time.

Persons: —, It's, I'm, Brigid Schulte, Liana Sayer, Sayer, Sayers, Schulte, Ciara Kelly, Kelly, We're Organizations: Service, Netflix, Business, Bravo, University of Maryland's, Organization for Economic Co, Development, World Economic, US, The University of Sheffield Locations: America, France, Finland, Belgium, Italy, Germany, Spain, Japan, UK

☆ Americans have between 4 and 6 hours of leisure time daily. We just have no idea how to use it.
▼ + stars: | 2024-03-26 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +11 min

AdvertisementDespite class differences, 95% of Americans over the age of 15 engaged in some kind of leisure activity on a typical day, according to the 2022 time-use survey. But the vast majority of Americans' leisure time is spent — you guessed it — in front of the television. Watching TV is the most popular leisure activity, accounting for an average of 2.8 hours a day — more than half of all Americans' leisure time. Americans' spend more time watching TV than any other leisure activity. AlavinphotoSexism and the safety netThere is also a gendered element at play when it comes to Americans' leisure time.

☆ The genius Roman creations that still amaze us today
▼ + stars: | 2024-03-23 | by ( Guy Kesteven | ) edition.cnn.com time to read: +13 min

That’s because Roman passions for outrageous, oversized architecture went hand in hand with detailed record-keeping and relentless imperial PR. We should warn you that the lines to get in now are likely even longer than the Roman ones though. While it was forgotten for over 1,000 years, this UNESCO World Heritage site now gets over 2,500,000 visitors a year. Mahmud Turkia/AFP/Getty ImagesWhat: Spectacularly preserved Roman portWhere: Libyan coastWhoa: Seeing is still not believingThe undoubted winner of the “most incredible Roman site you’ve never heard of” award is Lepcis Magna. That’s made this dramatic structure a designated UNESCO World Heritage site and well worth a visit on any Roman road trip across Europe.

Persons: Genghis, Marco Cantile, Volcanically, Pliny, hadn’t, That’s, Pont du, Pont, it’s, Mahmud Turkia, you’ve, Magna, Septimus Severus, “, Emperor Augustus, Tiberius, Domitian, Nero, Maximus, Don’t, Augustus, Vindolanda, Hadrian, Antonine, Aphrodisia, Caracalla, Caracalla aren’t, Diocletian, Guy Kesteven, Sarah, Freya Organizations: CNN, Scottish Borders, UNESCO, Heritage, Lepcis Magna, Getty, Coliseum, YouTube, Royal Holloway University Locations: Rome, Africa, Scottish, Italy, Herculaneum, Naples, Mount, Gardon, France, AFP, Libyan, Libya, Palatine Hill, Trier, Germany, Europe, England, Roman, Scotland, Anatolia, Turkey, Aphrodisia, Caracalla

☆ Cruise lines' private islands are having a renaissance. These are the 3 reasons they need it now more than ever before.
▼ + stars: | 2024-03-23 | by ( Brittany Chang | ) www.businessinsider.com time to read: +8 min

To cruise lines, they're cash cows. Related storiesThese are the three reasons cruise-run private destinations have become so important. Amid rising fuel costs, it's easy to see why cruise lines would want to plan more itineraries around these nearby stops. Private destinations keep profits in-houseThe bar had two halves: one on land and the other at pool level. And because there's no need to rely on other excursion operators, they allow cruise lines to keep more profits in-house.

Persons: —, Patrick Scholes, Michael Bayley, Naftali Holtz, it's, Scholes, wouldn't, Linken D'Souza, Brittany Chang, Josh Weinstein, Jason Liberty, Simone Padovani, CHANDAN KHANNA, They're Organizations: Service, Royal, Business, Truist Securities, Disney Cruise Line, Disney Cruise, Holland America, MSC, Royal Caribbean International, Royal Caribbean Group, Beach, cabanas, Carnival Corp, Private, Hideaway, Disney, Key, Getty Locations: Miami, Bahamas, CocoCay, Caribbean, Honduras, Belize, Eleuthera, Cay, Holland, Royal Caribbean, Paradise, Nassau, Florida, cabanas, Royal, Orlando, Venice, Italy's Giudecca, Santorini, Greece, Key West , Florida, California, Alaska , Maine, Europe, Juneau , Alaska, French Polynesia, Italy

☆ Opinion: Hey parents, don’t text your kids at school
▼ + stars: | 2024-03-18 | by ( Opinion Jill Filipovic | ) edition.cnn.com time to read: +10 min

CNN —Hey, parents, leave your kids alone. There is the obvious threat of school shootings, which is surely one reason why parents may want their children to have phones on them. Several parents told me that they also strive to stay connected to their kids in emergencies, while minimizing distractions at school. Social media platforms need to do their part in restricting access to their platforms for young kids. And school leadership need to stand up, even in the face of anxious or demanding parents.

Persons: Jill Filipovic, CNN —, That’s, what’s, Pew, , it’s, Jean Twenge, Derek Thompson, ” Twenge, “, ’, Michael Smith, ”, Kathleen Moran, ” Moran, ” Beatrice Robbins Organizations: Twitter, CNN, UNESCO, Aspen Institute, Apple Locations: New York, United States, Brooklyn, Virginia Beach

☆ The 16 worst-paying college majors, five years after graduation
▼ + stars: | 2024-03-16 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

All three majors made a median annual income of $38,000, the lowest out of the 75 majors in the study. Other low-paying majors include leisure and hospitality, history, fine arts and psychology, all of which made $40,000 or less per year. With liberal arts degrees, graduates tend to get paid less overall, for various reasons. Education majors tend to be paid less, as well. When looking at "mid-career" graduates — those ages 35 to 45 — education majors are the worst paid among all majors.

Organizations: York Federal, Census, Economic Locations: U.S

☆ Traveling with my dad helped me see him as an individual, not just my parent, and improved our relationship dynamic
▼ + stars: | 2024-03-16 | by ( Adam England | ) www.businessinsider.com time to read: +5 min

First, it was just me and my parents, and then my sister was born shortly before my ninth birthday. Over the next six years, I went on a few trips with friends, my girlfriend, and my university. And my parents and sister had all traveled at least once separately too, whether for work, school, or leisure. And, I learned more about the sort of things my parents are planning for when both of their children are adults. While my parents work on computers and are by no means technophobes, I was able to make the trip with my dad easier by having an app for everything.

Persons: I've, they've, Jude Bellingham, Adam England, I'm, they're Organizations: Birmingham City, Birmingham, Apple Locations: California, Lanzarote, Madrid, Birmingham, Real Madrid, Spain, —

Learn moreTaylor Swift's reign continues as she ramps up for the next leg of The Eras Tour. If you're hoping to attend, we've compiled all of the details of The Eras Tour, including how to get Taylor Swift tour tickets. Below, we've put together a guide on everything to know about The Eras Tour, including the tour schedule, ticket purchasing details, resale ticket prices, and the concert film streaming options. On Vivid Seats, the cheapest Taylor Swift tickets on these dates start at $1,133 and $2,212, respectively. Check out everything you need to know about streaming The Eras Tour concert film in our guide.

Persons: Taylor, she'll, we've, Taylor Swift, Swift, Paramore, Gracie Abrams Organizations: Business, Canada, Poets Department, Ticketmaster, Miami, Vancouver ., Swift, Disney Locations: Paris, North America, London, France, Stockholm, Sweden, Lisbon, Portugal, Madrid, Spain, Lyon, Edinburgh, United Kingdom, Liverpool, Cardiff, Dublin, Ireland, Amsterdam, Netherlands, Zurich, Switzerland, Milan, Italy, Gelsenkirchen, Germany, Hamburg, Munich, Warsaw, Poland, Vienna, Austria, Miami, New Orleans, Indianapolis, Canada, Toronto, Vancouver, LA, Miami , Florida

☆ Sen. Bernie Sanders introduces 4-day workweek legislation
▼ + stars: | 2024-03-14 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +1 min

The four-day workweek is gaining momentum in Congress: Sen. Bernie Sanders, I-Vt., introduced legislation Wednesday that would reduce the standard workweek to 32 hours without a pay cut. The act would shorten the standard workweek over four years by mandating that overtime pay kicks in after 32 hours worked in a week, down from the current 40. Today's 40-hour workweek has been federal law since 1940 following the passing of the Fair Labor Standards Act. Proponents of a shorter workweek say advances in technology have made workers more productive, but have not resulted in higher wages or time back. Supporters say a lower overtime threshold would encourage business to either pay workers more for longer hours, or shorten their week and hire more people.

Persons: Sen, Bernie Sanders, Sanders Organizations: Fair Labor, Wall

☆ Now comes the hard part for the Fed to achieve its goal of getting inflation to 2%
▼ + stars: | 2024-03-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Core services costs excluding housing services — "supercore" inflation, as it has become known — remain elevated but at least the pace of increase, at 0.5%, has eased. "The 'last mile' problem for the central bank is the inflation in service prices, which is partly attributed to the tight labor market in sectors such as healthcare, leisure, hospitality, and construction. "This type of inflation, often termed 'cost-push inflation,' may not react straightforwardly to changes in interest rates." "Wage growth was significantly slower, the labor market wasn't as tight," PNC's Faucher said. "It wasn't that long ago, but it was a different economy than it is now, with some of those [current] post-pandemic effects of the tight housing market and the tight labor market."

Persons: Gus Faucher, Dow Jones, Sung Won Sohn, PNC's Faucher, Faucher, JPMorgan Chase, Jamie Dimon, That's Organizations: Federal, PNC Financial Services, CPI, Bureau of Labor Statistics, Loyola Marymount University, SS Economics, Fed, JPMorgan, Monday

☆ Stocks making the biggest moves midday: Southwest, Oracle, 3M, New York Community Bancorp and more
▼ + stars: | 2024-03-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Oracle — The database software stock surged 11% and headed for its best day since December 2021 after posting fiscal third-quarter earnings that topped Wall Street's expectations. Asana — The stock shed about 11% after the work management platform issued weak full-year revenue guidance. Asana said to expect revenue between $716 million and $722 million, less than the forecast of $725 million estimated by analysts polled by LSEG. American is expecting an adjusted loss of 15 cents to 35 cents per share, versus a 22 cent loss expected from analysts polled by FactSet. On lost 0.05 Swiss franc per share, while analysts polled by StreetAccount expected On to earn 0.10.

Persons: Oracle, William Brown, Asana, Microstrategy, Canaccord, TD Cowen, Dan Loeb's, StreetAccount, Archer, Daniels, Samantha Subin, Lisa Han, Alex Harring, Sarah Min Organizations: Southwest Airlines —, Boeing, Southwest, Oracle, L3Harris Technologies, LSEG, Wall Street, Boeing —, New York Times, Max, Alaska Airlines, Acadia Pharmaceuticals, American Airlines —, FactSet, Management, Advance, Swiss, Revenue, Daniels, Midland, Daniels Midland, . New York Community Bancorp Locations: .

☆ Southwest Airlines cuts capacity, and rethinks 2024 financial forecast, citing Boeing problems
▼ + stars: | 2024-03-12 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Southwest Airlines said Tuesday that it will have to trim its capacity plans and reevaluate its financial forecasts for the year, citing delivery delays from Boeing , its sole supplier of airplanes. The Dallas-based airline said Boeing informed Southwest's leaders that it should expect 46 Boeing 737 Max 8 planes this year, down from 58. Southwest had expected Boeing to deliver 79 Max planes, including some of the smallest model, the Max 7, which hasn't yet won certification from the Federal Aviation Administration. Because of the delays, Southwest said in a filing that it is "reevaluating all prior full year 2024 guidance, including the expectation for capital spending." Last week, United told staff that it would have to pause pilot hiring this spring because of late-arriving aircraft from Boeing, CNBC reported.

Persons: Max, —, United, Boeing didn't Organizations: Southwest Airlines, Boeing, Southwest's, Max, Southwest, Federal Aviation Administration, JPMorgan, Alaska Airlines, CNBC Locations: Dallas

☆ Stocks making the biggest moves before the bell: Oracle, Kohl's, Coinbase, Southwest and more
▼ + stars: | 2024-03-12 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Oracle posted adjusted earnings per share of $1.41, topping the $1.38 consensus estimate of analysts polled by LSEG. Kohl's — Shares added 2.2% after the retailer reporting an earnings and revenue beat for the fourth quarter. Wells Fargo upgraded the stock to overweight, while raising its price target for shares to $16. Meanwhile, Oppenheimer upgraded its rating to outperform and upped its target price to $12 per share. TD Cowen also raised its price target to $1,560 while keeping its outperform rating, noting its quick increase to incremental bitcoin holdings.

Persons: Asana, Raymond James, Bitdeer, Wells Fargo, Oppenheimer, Canaccord, TD Cowen, —, Sarah Min, Lisa Kailai Han, Michelle Fox Organizations: Oracle, LSEG, Revenue, Southwest Airlines —, Southwest Airlines, Boeing, Technologies, Wall Street Locations: Southwest

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