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On Today’s Episode:U.S. Officials Say Russia Is Unlikely to Take Much More Ukrainian Territory, by Julian E. Barnes and Eric SchmittBiden Says He Is ‘Firmly Committed’ to Staying in the Race, by Michael D. ShearParkinson’s Expert Visited the White House Eight Times in Eight Months, by Emily Baumgaertner and Peter BakerFollowing Trump’s Lead, Republicans Adopt Platform That Softens Stance on Abortion, by Maggie Haberman, Shane Goldmacher and Jonathan Swan
Persons: Julian E, Barnes, Eric Schmitt Biden, , , Michael D, Emily Baumgaertner, Peter Baker, Maggie Haberman, Shane Goldmacher, Jonathan Swan Organizations: Officials Locations: Ukrainian Territory
In these days of uncertainty at the White House, Vice President Kamala Harris is sticking close to President Biden physically and politically, determined not to let anyone say that she has been anything other than completely loyal. With Mr. Biden’s future on the line, perhaps no one is in a more delicate position than Ms. Harris. As a practical matter, though, she has to ignore the chatter and disclaim any interest unless Mr. Biden reverses course and passes her the baton. Al Sharpton, the civil rights leader, who spoke with Ms. Harris on Friday night at the Essence Festival of Culture in New Orleans. “But the job of vice president is awkward.”
Persons: Kamala Harris, Biden, Biden’s, Harris, , , Al Sharpton Organizations: Democratic, White, White House, Essence, Culture Locations: New Orleans,
The rise and fall of Express
  + stars: | 2024-07-09 | by ( Ryan Baker | Tala Hadavi | Gabrielle Fonrouge | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe rise and fall of ExpressClothing retailer, Express, distinguished itself during the early 2000s as a shopping mall favorite of young professionals. But things started to go downhill in the years after well-regarded CEO Michael Weiss left the company in 2015. Express filed for bankruptcy in April. In June, a group of investors by the name of Pheonix bought the once-highflying retailer. Watch the video above to learn more.
Persons: Michael Weiss, Pheonix Organizations: Express
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaker: Doubt a rate cut by the Fed will come anytime before SeptemberLee Baker, Owner and President of Apex Financial, discusses the trading day and week ahead.
Persons: Lee Baker Organizations: Fed, Apex Financial
Estonia's president said Ukraine joining NATO is "non-negotiable" and "irreversible." NATO must send a strong message that it will support Ukraine for as long as it takes, Alar Karis said. Trump is reportedly open to a deal with Russia that would block Ukraine from the alliance. AdvertisementEstonian President Alar Karis said Ukraine joining NATO isn't negotiable and that the Western military alliance must send a strong message that NATO will support Ukraine for as long as it takes. "Ukraine's NATO membership is non-negotiable, and the process of becoming a member is irreversible," he said, according to Estonian news outlet ERR.
Persons: Alar Karis, Trump, , Donald Trump Organizations: NATO, Service, Business Locations: Ukraine, Russia, Estonian
An expert on Parkinson’s disease from Walter Reed National Military Medical Center visited the White House eight times in eight months from last summer through this spring, including at least once for a meeting with President Biden’s physician, according to official visitor logs. The expert, Dr. Kevin Cannard, is a neurologist who specializes in movement disorders and recently published a paper on Parkinson’s. The logs, released by the White House in response to a request from The New York Times, document visits from July 2023 through March of this year. It was unclear whether Dr. Cannard was at the White House to consult specifically about the president or whether he was there as part of unrelated meetings with the White House medical team. “A wide variety of specialists from the Walter Reed system visit the White House complex to treat the thousands of military personnel who work on the grounds,” Andrew Bates, a White House spokesman, said in a statement.
Persons: Walter, Biden’s, Kevin Cannard, Cannard, Cannard’s, Donald J, Trump, Barack Obama, Walter Reed, ” Andrew Bates Organizations: Walter Reed National Military Medical Center, White House, White, The New York Times Locations:
Oil little changed as investors eye impact of storm Beryl on Texas
  + stars: | 2024-07-08 | by ( ) www.cnbc.com   time to read: +2 min
Oil prices were little changed as investors eyed energy supply disruption, with the largest ports in Texas shut before Tropical Storm Beryl likely strengthens into a hurricane and makes landfall on Monday. Brent crude futures inched up 11 cents, or 0.1%, to $86.65 a barrel as at 0042 GMT after closing down 89 cents on Friday. U.S. West Texas Intermediate crude was at $83.08 a barrel, down 8 cents, after settling down 72 cents in the previous session. Lower interest rates can boost economic activity and increase crude oil demand. Investors were also watching for any impact from elections in the UK, France and Iran last week on geopolitics and energy policies.
Persons: Beryl, Corpus Christi, Tony Sycamore, Baker Hughes BKR.O, Sycamore, Masoud Pezeshkian Organizations: Tropical, Brent, . West Texas, Texas City, Energy, Administration, Sunday Locations: Texas, Corpus Christi, Houston, Galveston, Freeport, Corpus, Sydney, U.S, France, Iran
Eventually, tired from my frantic searching, I accepted defeat and contacted the bank to lock my cards. After losing my wallet, I decided to ask a few sources what course of action I should take to protect my money and identity. I then made a list of everything that was in my wallet ... and that was the easy part. Soon after requesting a replacement debit card, Bank of America sent me a virtual one that I was able to add to my Apple wallet and use immediately. Other tips and tricks to manage a lost wallet
Persons: hadn't, I'm, Lee Baker, it's, you've, Baker Organizations: Westend61, CNBC, Metropolitan Transportation Authority, North, North Carolina DMV, Bank of America, Apex, CNBC's Locations: New York, New York City, North Carolina, Atlanta
Opinion | Joe Biden, in the Goodest Bunker Ever
  + stars: | 2024-07-07 | by ( Maureen Dowd | ) www.nytimes.com   time to read: +1 min
When I saw the Michael Shear story in The Times on July 4, recounting how President Biden had stumbled talking to Black radio hosts days after his debate debacle, telling one he was proud to have been “the first Black woman to serve with a Black president,” I knew it spelled trouble. First of all, if any white man could claim to be “the first Black woman” in the Oval, it was Bill Clinton. Black fans called him “the first Black president” and feminist fans called him “the first woman president.”Second of all, we were entering a new post-debate examination period with President Biden, where his every word would be scrutinized. He was always a fast and voluminous talker, and as he has gotten older, the words and ideas sometimes tumble out in the wrong order. Also, he’s more slurry now, so words get smushed together, and words and thoughts collide; words get dropped, caesuras skipped, and sentences sometimes trail off into the ether.
Persons: Michael, Biden, , Bill Clinton, caesuras, Peter Baker Organizations: White House Locations: Times, mumble
Crisis? What Crisis? Biden Rejects Democratic Pessimism
  + stars: | 2024-07-06 | by ( Peter Baker | ) www.nytimes.com   time to read: +1 min
All sounds fine in President Biden’s world. For Mr. Biden, the crisis seen by so many Democrats who are not on his payroll — and by some who are — is nothing more than another bump in the road, another obstacle to overcome as he always has. His prime-time interview that aired on ABC News on Friday night was an exercise not just in damage control but in reality control. For much of his long and storied political career, Mr. Biden has succeeded through sheer force of will, defying the doubters and the skeptics and the scorners to prove that he could do what no one expected. “You really see a president in denial and in a bubble,” Julián Castro, a former housing secretary who ran against Mr. Biden for the Democratic nomination in 2020, said in an interview.
Persons: Biden’s, Biden, Donald J, Trump, , Julián Castro, he’s, Organizations: ABC, Mr, Democratic
What to expect from the June jobs report
  + stars: | 2024-07-05 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +9 min
That said, the job market of today is far different than it was 30 months ago. “The labor market has normalized,” Luke Tilley, Wilmington Trust’s chief economist, told CNN in an interview. As such, Friday’s report could provide a crucial signal as to whether the jobs market is at a stable or even pre-pandemic state — or is perhaps weaker than advertised. The continued upswing in claims has Tilley closely watching an underlying datapoint of the monthly jobs report: Unemployed persons by reason for unemployment. The overall labor force participation rate dipped in May to 62.5% from 62.7%, reversing progress made earlier this year.
Persons: don’t, ” Luke Tilley, , Nela Richardson, ” Dean Baker, aren’t, Tilley, ” Tilley, That’s, Julia Pollak, ” Pollak, Rachel Sederberg, Joe Biden, Donald Trump, Biden, Jerome Powell, Powell, , can’t, Lightcast’s Organizations: CNN, Bureau of Labor Statistics, Center for Economic, Policy Research, of Labor, Challenger, ZipRecruiter, , CNN Business, Workers, Federal Reserve, Labor Locations: Wilmington, , Portugal
New York CNN —Saks Fifth Avenue and Neiman Marcus are merging to create a luxury department store empire. “We’re thrilled to take this step in bringing together these iconic luxury names, Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman,” said HBC CEO Richard Baker in a release. Saks has 39 stores, while Neiman Marcus, which filed for bankruptcy in 2020, has 36 stores. Neiman Marcus also owns Bergdorf Goodman. Both of them will report to Baker, who becomes the executive chairman of Saks Global.
Persons: New York CNN —, Neiman Marcus, Bergdorf Goodman, “ We’re, , Richard Baker, Marc Metrick, Ian Putnam, Baker, Louis Vuitton, Michael Kors, ” Neil Saunders, , Amazon, Saunders Organizations: New, New York CNN, New York CNN — Saks Fifth, Saks, HBC, Saks Fifth, Saks Global, HBC Properties, Canadian, Brands, Neiman, Capri, GlobalData, Federal Trade Commission, FTC Locations: New York, Hudson’s, Glendale , California, Columbus , Ohio
Read previewRussia's invasion of Ukraine has resulted in a surge in demand, orders, and manufacturing of Western weaponry, including decades-old equipment and even gear that had gone out of production. The result is more orders and manufacturing, even of Western equipment where production had stopped. Its maker, Lockheed Martin, is increasing production as well as its production of the antitank missile system. Russia has also ramped up its wartime production, which could aid it in the future and not just against Ukraine. One solution would have been countries ramping up their orders and production earlier in the war, Di Mizio said.
Persons: , it's, Jan Kallberg, hasn't, Lockheed Martin, Diehl, Timothy Wright, Mark Cancian, Vladimir Putin, Mikhail Klimentyev, Mattias Eken, Cancian, Diego Herrera Carcedo, Giorgio Di Mizio, Kallberg, Di Mizio Organizations: Service, Business, Manufacturing, Center for, Army Cyber Institute, US Army, Air Missile System, High Mobility Artillery Rocket Systems, Getty, IRIS, Patriot, International Institute for Strategic Studies, Financial Times, Center for Strategic, International Studies, Russia Western, Military, Sputnik, REUTERS, Ukraine, Russia, RAND Corporation, Anadolu Agency Locations: Ukraine, Russia, West, Norway, Europe, Bakhmut, Donetsk Oblast, France, Kremlin, REUTERS Russia
One of America’s political parties has a presidential candidate who is really old and showing it. The other has a presidential candidate who is a convicted felon, adjudicated sexual abuser, business fraudster and self-described aspiring dictator for a day. And also really old. One of the parties is up in arms about its nominee and trying to figure out how to replace him at the last minute. The spectacle of the week since the nationally televised debate between President Biden and former President Donald J. Trump has thrown into sharp relief two political parties that agreed to be led by flawed putative nominees whose vulnerabilities have become even more painfully apparent just months before the election.
Persons: Biden, Donald J, Trump
Saks Fifth Avenue parent HBC said on Thursday it will acquire Neiman Marcus Group in a $2.65 billion deal combining the storied retailers. The combination will establish Saks Global, which will include Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus' namesake department store chain and Bergdorf Goodman. "We're thrilled to take this step in bringing together these iconic luxury names," HBC CEO Richard Baker. "This is an exciting time in luxury retail," Baker added, citing technological advancements that can "redefine" the customer experience. Neiman Marcus Group CEO Geoffroy van Raemdonck called the partnership a "proactive choice in an evolving retail landscape."
Persons: Neiman Marcus, Bergdorf Goodman, We're, Richard Baker, Baker, Marc Metrick, Ian Putnam, Geoffroy van Raemdonck, what's Organizations: Saks Fifth, HBC, Saks Global, Saks, HBC Properties, Investments, Neiman
The rise of the internet and of Yahoo pushed SoftBank's stock to a peak closing price of 10,111.1 yen on Feb. 18, 2000. After lingering near then-record highs in March 2021, SoftBank's stock fell sharply, alongside other global tech stocks. "Softbank Vision Fund had to write down various investments due to a combination of equity values declining and a tougher private financing environment. Dan Baker, senior equity analyst at Morningstar, said a lot of SoftBank's price appreciation comes down to Arm. Baker said the SOTP valuation remains just under 50% this year, meaning SoftBank's stock does not truly reflect the value of its various businesses and investments.
Persons: Kosuke Okahara, Masayoshi Son, Softbank, SoftBank, Son, Oliver Matthew, Paul Golding, Golding, Dan Baker, I'm, Baker, " Baker, . Organizations: ARM, SoftBank, Bloomberg, Getty, Yahoo, Vision, Vision Fund, Beijing, CNBC, Macquarie U.S, Morningstar, Nikkei Locations: Tokyo, British, Japan, U.S, Alibaba
Russia launches many of its drone and missile attacks from within its own borders, and it amasses troops and equipment at home for offensive pushes into Ukraine. But for a long time, Ukraine could only turn to options like long-range drones to go after targets in Russia. De Bretton-Gordon noted that many Russian missile and drone attacks are launched from Russia itself. Russia initiated a new offensive against Kharkiv on May 10, launching deadly missile attacks and slowly pushing its military forward. Ingram agreed, saying that in Kharkiv, Ukraine's new permissions have "made a huge difference.
Persons: , It's, Hamish de Bretton, Gordon, de Bretton, Bretton, George Barros, it's, Barros, Philip Ingram, weren't, Michael Clarke, John Hamilton, Volodymyr Zelenskyy, ISW, Kostiantyn Liberov, Ingram, Cancian Organizations: Service, Business, NATO Chemical, Nuclear, Army Tactical Missile Systems, Russian, Getty, Russian Defense Ministry, British Army, Army Tactical Missile System, Kharkiv, Associated Press, Artillery Rocket Systems Locations: Ukraine, Russia, West, Kharkiv, Russian, Anadolu, British, Belgorod, Russia's, Crimea, Ukrainian
Royal Academy of Arts, London / David ParryLondon has long been home to some of the world's leading art galleries — Tate Modern, Somerset House and the National Gallery are among the U.K.'s most visited attractions. CNBC asked a mix of artists to name their favorite public and commercial galleries to visit in London — large or small. Contemporary galleries — and an upscale hotelMultidisciplinary artist Lauren Baker, who is exhibiting at the Venice Biennale until November, named contemporary galleries — and a hotel — as her favorite places to see art in London. Her top London galleries include the Royal Academy of Arts, for its "wonderful" exhibitions, she told CNBC by email. Rob Stothard | Getty ImagesEdwards also likes major London galleries Tate Modern and Tate Britain.
Persons: David Parry London, Lauren Baker, Alice, It's, Rachael Louise Bailey, Matthew Harris, Baker, Woolff, Apolline Bokkerink, Joanne Tinker, Jeff Greenberg, Matthew Flower, Amanda Wilkinson —, Maureen Paley, Gillian Wearing, Wolfgang Tillmans, Ratnam, Katharine Edwards, Mark Rothko's, Rothko, Rob Stothard, Edwards, Mark Rothko, Komal Madar, Kandinsky, Munter, Komal, Madar, Judy Chicago's, Modigliani, Gilbert Proesch, George Passmore, Gilbert, Joe Maher, Tom Oldham, Dave Grohl, Usain Bolt, Gilbert Prousch, Oldham, Queen Elizabeth II, Andy Warhol, Phillips, Dan Kitwood Organizations: Royal Academy of Arts, Royal Academy of Arts ,, Somerset House, CNBC, Venice Biennale, Alice Black Gallery, Universal, Getty, Turner, Tate Galleries, Cricket Fine, London's Tate, Tate, Tate Britain, Seagram, Gilbert & George Centre, Oldham, George Centre, . Locations: London, Royal Academy of Arts , London, Venice, London's Soho, Fitzrovia, Mayfair, Andalusia, Spain, London's Chelsea, New York, Serpentine, Hyde, London's Bermondsey, Islington, Soho, England
On Today’s Episode:Biden’s Lapses Are Said to Be Increasingly Common and Worrisome, by Peter Baker, David E. Sanger, Zolan Kanno-Youngs and Katie RogersDemocrats Go Public With Panic About Biden Amid Fears of an Electoral Debacle, by Catie Edmondson, Kellen Browning and Nicholas NehamasJudge Delays Trump’s Sentencing Until Sept. 18 After Immunity Claim, by Ben Protess, William K. Rashbaum, Kate Christobek and Wesley Parnell
Persons: Said, Peter Baker, David E, Sanger, Zolan Kanno, Katie Rogers, Biden, Catie Edmondson, Kellen Browning, Nicholas Nehamas, Ben Protess, William K, Rashbaum, Kate Christobek, Wesley Parnell Organizations: Go
Read previewRussian neighbor and ally Belarus said it is boosting its military presence along its border with Ukraine, with its president saying its troops are combat-ready. Thousands of Russian troops entered Ukraine from Belarus at the start of the invasion. This includes a high-ranking Belarusian military official saying in late June that Ukraine was "attempting to drag our country into the war." In response, Ukraine's State Border Guard Service said that all of Ukraine's activities near Belarus' border were just defensive, Euromaidan reported. It is unlikely that Belarus' troops would make a big impact even if they did enter the war.
Persons: , Aleksander Lukashenko, Lukashenko, Vladimir Putin, Euromaidan, Mark Cancian Organizations: Service, Business, Russian, State Border Guard Service, Ukrainian Security, Defense Council's Center, US Marine Corps, Center for Strategic, International Studies, Ministry of Defence Locations: Belarus, Ukraine, Ukrainian, Russia, Russian, Belarusian
Read previewNew rules from Ukraine's allies about how it can use weapons they've supplied could have a strong impact on its long-awaited F-16s. That's because Ukraine now has permission to use weaponry given by its allies to hit targets on Russian soil. George Barros, a Russian military expert at the US-based Institute for the Study of War, said this will make the F-16s more effective. AdvertisementEven so, the experts said that the F-16s will make a difference for Ukraine, without being a total game changer on their own. The jets will help replenish lost aircraft, deter Russian jets, and act as air defenses.
Persons: , George Barros, I'm, Barros, Peter Layton, it's, Layton, didn't, Russian Su, YURI KADOBNOV, Michael Clarke, Mark Cancian, there's, Clarke, Tim Robinson Organizations: Service, Russia, Business, Wing Public Affairs, Griffith Asia Institute, Royal Australian Air Force, Ukraine, Republicans, Getty, Marine, Center for Strategic, International Studies, UK's Royal Aeronautical Society Locations: Ukraine, Russian, Russia, AFP, British, Denmark, Netherlands, Norway, Belgium
The U.S. Department of the Treasury and IRS on Friday released final tax reporting rules for digital asset brokers — and crypto investors have limited time to prepare, experts say. Mandatory yearly reporting will phase in starting in 2026, with digital currency brokers required to cover gross proceeds from sales in 2025 via Form 1099-DA. In 2027, brokers must include cost basis, or purchase price, for certain digital asset sales for 2026. "These regulations are an important part of the larger effort on high-income individual tax compliance," IRS Commissioner Danny Werfel said in a statement. The new IRS regulations come roughly four months after the agency hired two former crypto executives to improve digital currency service, reporting, compliance and enforcement programs.
Persons: Danny Werfel, Everybody's, James Creech, Baker Tilly Organizations: U.S . Department of, Treasury, IRS, Finance, Taxation, CNBC Locations: U.S
More than two million people will fill the streets of Manhattan on Sunday for the New York City Pride March. But in small towns across the New York region in recent weeks, the march’s buoyant spirit has already gotten a head start. Jamie Creamer, 38, who lives in Patchogue, on the South Shore of Long Island, attended a Pride event there with her wife and their two young children, “to start setting an example,” she said. “My son plays sports in this town, and I’m a coach in this town. If we want to make a difference, we’ve got to start with ourselves.”
Persons: Jamie Creamer, , , we’ve Organizations: New York, New York City Pride Locations: Manhattan, New York City, New York, Hudson, Long, Patchogue, Shore,
President Biden’s family is urging him to stay in the race and keep fighting despite last week’s disastrous debate performance, even as some members of his clan privately expressed exasperation at how he was prepared for the event by his staff, people close to the situation said on Sunday. Mr. Biden huddled with his wife, children and grandchildren at Camp David while he tried to figure out how to tamp down Democratic anxiety. While his relatives are acutely aware of how poorly he did against former President Donald J. Trump, they argued that he could still show the country that he is capable of serving for another four years. Aides were burning phone lines over the weekend to prevent major elected officials and financial supporters from abandoning him. Hunter Biden wants Americans to see the version of his father that he knows — scrappy and in command of the facts — rather than the stumbling, aging president Americans saw on Thursday night.
Persons: Biden’s, Biden, Camp David, Donald J, Trump, Mr, Hunter Biden, — scrappy
Atlanta CNN —Larry Malinconico went to bed worried about President Joe Biden’s debate performance. “I’m extremely concerned,” Malinconico said just after the CNN debate Thursday night. She is still planning to vote Biden, but her reaction was also quite telling. “Why not allow Kennedy on stage,” he said of independent candidate Robert F. Kennedy Jr., who failed to meet the CNN debate criteria. — Trump supporters approved of his debate performance but there was no evidence in our group that he gained support.
Persons: Larry Malinconico, Joe Biden’s, “ I’m, ” Malinconico, , Biden, , Malinconico, , Pat Levin, Levin, Kamala Harris, Gavin Newsom, Biden –, “ Biden, ” Levin, ” Michael Pesce, Trump, ” Pesce, , Pesce, I’m, Davette Baker, Donald, Matt Vrahiotes, Vrahiotes, Kennedy, Robert F, Kennedy Jr, ’ ”, Antonio Munoz, – –, Christine Ngyuen, Anushka Jalistagi, — Trump, Kim Cavaliere, ” Ibrahim Ghazal, “ Trump, ” Ghazal, ” Linda Rooney, Rooney Organizations: Atlanta CNN, CNN, Trump, California Gov, Reagan Republican, Biden, Republicans, Democratic, Wayne State University, , of Michigan, College Democrats, , Hamas, Republican Locations: Northampton County , Pennsylvania, Northampton County, California, Bucks County, Philadelphia, Northampton, African American, Milwaukee, Hall County , Georgia, America, Vegas, Atlanta, Decatur, , Detroit, Palestinian, Israel
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