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A Halting Performance
  + stars: | 2024-06-28 | by ( German Lopez | ) www.nytimes.com   time to read: 1 min
They hoped that President Biden, 81, could convince voters that his age was nothing to worry about. Biden’s voice was hoarse and halting. “Rather than dispel concerns about his age,” wrote my colleague Peter Baker, Biden “made it the central issue.”Some Democrats are now pushing for him to drop out of the race. “Biden is about to face a crescendo of calls to step aside,” a Democratic strategist told Peter. It has run dry.”Donald Trump, 78, delivered his false statements with conviction, affirming many voters’ concerns about his character and the threat he poses for democracy.
Persons: Biden, Donald Trump’s, , , Peter Baker, Biden “, “ Biden, Peter, “ Joe, Donald Trump Organizations: Democratic
The stock market has had a hot first half, with the S & P 500 up roughly 15%, but there are still opportunities for investors to find cheap names with solid dividends. They also have upside to the average analyst price target of 10% or more, according to FactSet. The S & P 500 energy sector has also done well this year, up more than 9% so far. SLB has a whopping 41.5% upside to the average price target, while ConocoPhillips has more than 27% upside to the average price target. About 68% of analysts covering the stock rate it a buy or overweight, and it has nearly 22% upside to the average price target.
Persons: Sempra, Baker Hughes, SLB Organizations: Federal Reserve, CNBC Pro, Hotels, Resorts, BMO, Utilities, ConocoPhillips, Analysts, Oil, Hasbro, Bank of America Locations: SLB
Last fall, senior partners at Kaplan Hecker & Fink, a New York law firm known for championing liberal causes, made a fateful decision: They were going to sideline their hard-charging and crusading founder, Roberta A. Kaplan. The reign of one of the country’s most prominent lawyers was coming to an end. Ms. Kaplan was already famous when she founded her law firm in 2017, having won a landmark Supreme Court case that paved the way for marriage equality for gay Americans. The firm soon gained national prominence because of her leadership in the #MeToo movement, and more recently for high-profile victories against white supremacists and former President Donald J. Trump. But those triumphs couldn’t overcome an uncomfortable reality, according to people familiar with the law firm’s internal dynamics.
Persons: Kaplan Hecker, Fink, Roberta A, Kaplan, Donald J, couldn’t, Organizations: Kaplan, Trump Locations: New York
Ever since President Biden announced last year that he would run again, those in his inner circle closed ranks and brushed off the obvious question: No, they insisted, he was not too old to seek re-election. Republicans were posting wildly distorted video clips on social media making him look more feeble than he actually is. Hand-wringing Democrats fretting over the prospect of an octogenarian president turning 86 by the end of a second term were just “bed-wetters.”Then the debate happened. And now the days of denial at the White House are over. Struggling to contain a brush fire of alarm within the Democratic Party, his team is now forced to confront the issue head on.
Persons: Biden, Donald J, Barack Obama, James E Organizations: fretting, Trump, Democratic Party, Biden, Democratic Locations: Raleigh, N.C, Atlanta, South Carolina
A Fumbling Performance, and a Panicking Party
  + stars: | 2024-06-27 | by ( Peter Baker | ) www.nytimes.com   time to read: +1 min
President Biden hoped to build fresh momentum for his re-election bid by agreeing to debate nearly two months before he is to be formally nominated. Instead, his halting and disjointed performance on Thursday night prompted a wave of panic among Democrats and reopened discussion of whether he should be the nominee at all. Rather than dispel concerns about his age, Mr. Biden, 81, made it the central issue. Practically in despair, some took to social media to express shock, while others privately discussed among themselves whether it was too late to persuade the president to step aside in favor of a younger candidate. “Biden is about to face a crescendo of calls to step aside,” said a veteran Democratic strategist who has staunchly backed Mr. Biden publicly.
Persons: Biden, Mr, Donald J, , “ Biden, , “ Joe Organizations: Trump, Democratic
Gigi is a startup that aims to make it easier for brands to buy and measure streaming video ads with Amazon. The firm also provides advertisers with granular metrics like the incremental reach of a TV ad campaign, Epstein said. AdvertisementAs third-party cookies go away, Gigi's pitch plays up brands' first-party data to create more effective Amazon ads. For example, a Shopify merchant can analyze data from their Shopify website with Amazon data to find audiences to target with ads. Gigi wants to work with agenciesThe bulk of Amazon ads are bought using traditional shopper marketing dollars, but Epstein said that his firm is squarely focusing on TV ad budgets.
Persons: , Gigi, Adam Epstein, Epstein, Gigi Gigi Gigi, Omnicom, Capital, adtech execs, Mike Baker, Rosco Hill Organizations: Service, Amazon, Business, Amazon's, Wall, Amazon Marketing, AMC, Ascential, Ascential's, Golden Ventures, AperiamVentures Locations: Rosco
Part of the military's mission at home is to keep stockpiles of goods like critical minerals on hand for emergency wartime use. In the dark on the stockpileAlthough the name suggests otherwise, rare earth minerals are not exactly rare — in fact, they're relatively plentiful. The Biden administration began cutting American imports of Chinese rare earth minerals a few years ago in an effort to decrease US reliance on China for critical minerals. Submarines, fighter aircraft, magnets used in missiles, radar systems, and drones all require critical earth minerals for manufacturing. AdvertisementA past report for Congress on rare earth minerals for national defense, for instance, noted that a single Virginia-class submarine requires 9,200 pounds of rare earth minerals, while an Arleigh Burke-class destroyer requires 5,200 pounds.
Persons: , Biden, Lockheed Martin, Gregory Wischer, Wischer, Arleigh Burke, Halsey, Sampson, Chris Williamson Fabian Villalobos, Locke Organizations: Service, Business, Pentagon, Lockheed, Getty, Gratia, Defense Logistics Agency, of, Department of Defense, Defense Industrial Strategy, . US, Pacific, DoD, Materials, Lynas, Joint Base, Hickam . US Navy, RAND Corporation, National Defense, NDS, Industrial Base Locations: China, Fort Worth, Virginia, Arabian, Japan, South Korea, United States, California, Lynas USA, Texas, Vermont, Hickam
As Sam's Club opens more locations, it is trying to raise the bar for its own brand, Member's Mark. Net sales for Sam's Club totaled $86.2 billion in its most recent fiscal year, compared with $176.63 billion for Costco's U.S. clubs. Sam's Club CEO Chris Nicholas told CNBC the brand's revamp was inspired, in part, by the retailer's chief rival. Overtaking Costco and its beloved private label won't be easy for Sam's Club, said Michael Baker, a retail analyst for D.A. But he added Costco's success with Kirkland Signature created a formula that Sam's Club can follow.
Persons: Megan Crozier, Crozier, , kickstart, Mark, Chris Nicholas, Kirkland, Member's Mark, Michael Baker, Davidson Organizations: Sam's Club, Walmart, Costco, Kirkland, Sam's, Costco's U.S, CNBC, D.A
Roberta A. Kaplan, the celebrated lawyer who took on former President Donald J. Trump, and helped win marriage equality for gay Americans, is stepping down from the law firm she founded after clashing with her partners over her treatment of colleagues. Ms. Kaplan, a hard-charging civil rights lawyer, announced that she was leaving the firm, Kaplan Hecker & Fink, which she formed in 2017, to start a new one. Her departure followed months of internal frustration over Ms. Kaplan’s conduct toward other lawyers, according to people familiar with the matter. Those concerns led her colleagues to remove her from the firm’s management committee and precipitated her departure. Ms. Kaplan’s former firm will be renamed Hecker Fink effective Monday.
Persons: Roberta A, Kaplan, Donald J, Trump, Kaplan Hecker, Fink, Kaplan’s, Hecker Fink, “ Robbie Organizations: The New York Times
Joe Biden: The Old-School Politician in a New-School Era
  + stars: | 2024-06-26 | by ( Peter Baker | ) www.nytimes.com   time to read: +1 min
President Biden was peeved. Yet there was Mr. Schumer, the Senate Democratic leader, on the floor bashing Republicans for playing “a dangerous and risky partisan game.”Mr. Biden called Mr. Schumer to chide him. Senator Mitch McConnell, the Republican leader, had backed down to help avoid a fiscal crisis. The Joe Biden who will defend his presidency at a nationally televised debate on Thursday night remains a practitioner of old-school politics in a new-school era. The hostility, the anger, the polarization, the “beating up” that define today’s national debate, yes, he knows all about that.
Persons: Biden, Chuck Schumer, Schumer, Mr, chide, Mitch McConnell, , Joe Biden, Lyndon B, Johnson Organizations: Democrats, Democratic, Republican Locations: Washington
North Korean soldiers sent to aid Russia in Ukraine would be "cannon fodder," the Pentagon said. The two nations signed a new security pact, and some Korean units look set to go to Ukraine. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNorth Korean troops that are sent to Ukraine to aid in Russia's war would become "cannon fodder," the Pentagon said. Pentagon Press Secretary Maj. Gen. Pat Ryder said on Tuesday that "I think that if I were North Korean military personnel management, I would be questioning my choices on sending my forces to be cannon fodder in an illegal war against Ukraine."
Persons: , Pat Ryder Organizations: Pentagon, Service, North Korean, Ukraine, Business Locations: Russia, Ukraine
Oil extends losses as strong dollar weighs on commodities markets
  + stars: | 2024-06-24 | by ( ) www.cnbc.com   time to read: +1 min
Oil prices fell in early Asian trade on Monday for a second straight session, weighed down by a stronger dollar after concerns of higher-for-longer interest rates resurfaced and cooled investors' risk appetite. Brent crude futures slid 40 cents, or 0.5%, to $84.84 a barrel by 0036 GMT, after settling down 0.6% on Friday. U.S. West Texas Intermediate crude futures were at $80.34 a barrel, down 39 cents, or 0.5%. In Ecuador, state oil company Petroecuador has declared force majeure over deliveries of Napo heavy crude for exports following the shutdown of a key pipeline and oil wells due to heavy rains, sources said on Friday. In the U.S., operating oil rigs fell three to 485 last week, their lowest since January 2022, Baker Hughes said in its report on Friday.
Persons: Brent, Tony Sycamore, Petroecuador, Baker Hughes Organizations: Midland, . West Texas, U.S, PMI, IG, greenback, ANZ Locations: Odessa, Texas, Sydney, U.S, Gaza, Ecuador
Affirm — The buy now, pay later stock popped 10% after Goldman Sachs assumed coverage of the name at a buy rating. Roth MKM upgraded Cinemark to a buy from a neutral rating, saying that headwinds should soon shift to "very attractive tailwinds." Anheuser-Busch InBev — The brewing company's shares rose around 3% after UBS upgraded the stock to buy from neutral. Carrier Global — The heating and ventilation stock rose 3% on the heels of a Citi upgrade to buy from neutral. Energy stocks – A slate of energy names rose as crude oil futures jumped to start the last week of June.
Persons: Eli Lilly, tirzepatide, Eli Lilly's, ATTR, Goldman Sachs, Will Nance, Roth MKM, headwinds, Morgan Stanley, Cowen, Ferrari, Brent, SLB, Baker Hughes, — CNBC's Lisa Han, Jesse Pound, Alex Harring, Sean Conlon, Samantha Subin Organizations: Systems, Food and Drug Administration, Coyote Logistics, UPS, Alnylam Pharmaceuticals, Nvidia, Microsoft, Anheuser, Busch InBev, UBS, Busch, IBM, Ryder, Carrier, Citi, Ferrari —, Energy, West Texas Intermediate, APA Locations: U.S
Ukraine got permission from its allies last month to strike military targets in Russia with weapons they'd supplied, reversing a long-held restriction. AdvertisementEven so, Ukraine appears to have used HIMARS to strike targets in Russia since the restrictions were lifted. Related storiesRussia has also been stationing troops close to the border with Ukraine, ready to be called in to fight. Ukraine's deputy defense minister, Ivan Havryliuk, told the AP that at least 90,000 Russian troops deep in Russian territory were readying for a new assault when the restrictions were lifted. AdvertisementExperts say this new reality has had a big impact there, particularly given the Russian border is so close to the fighting.
Persons: , Hefastus, Ivan Havryliuk, Ukraine's, George Barros, They've Organizations: Service, Associated Press, Business, Artillery, System, AP, Washington Locations: Ukraine, Russia, Ukrainian, Kharkiv, Russian
Are We Loving Our Pets to Death?
  + stars: | 2024-06-22 | by ( Linda Baker | ) www.nytimes.com   time to read: +1 min
Pets are more popular than ever. The pet population in India hit 31 million in 2021, up from 10 million in 2011. And our pets are becoming ever more like us — or at least, that seems to be our goal. Now some animal welfare ethicists and veterinary scientists are wondering if, in our efforts to humanize our pets, we’ve gone too far. The more we treat pets like people, they argue, the more constrained and dependent on us our pets’ lives have become, and the more health and behavioral issues our pets develop.
Persons: , Annie McCall, we’ve Organizations: American Pet Products Association Locations: Europe, India, Seattle
Baker is an example of a Gen Z boss who is setting a new standard for productivity by prioritizing her team's mental health and work-life balance. Related storiesLike Hodgson, Winsbury never worked for anyone else and has never even been to a job interview. "We're also constantly pushing our team to make sure that they are having a life outside of work," Winsbury said. Fellow Gen Zers, he said, can be frustrating to work with because they have been conditioned to be impatient. Hodgson said Gen Zers "get a bad name" for being work-shy, but he doesn't think that's the whole story.
Persons: , Raven Baker, Baker, X, who's, Raven Baker Oliver Hodgson, Hodgson, he's, Oliver Hodgson, Darren Robinson, Sam Winsbury, Winsbury, it's, We're, Daniel Hambury Jessie Urvater, Margot Adams, Jessie Urvater, Jessie Urvater Michelle Enjoli, Enjoli, Zers, I'm Organizations: Service, Business, Kurogo
Days before admittedly stabbing and dismembering tech CEO Fahim Saleh, ex-personal assistant Tyrese Haspil admittedly used $750 of his victim's money to buy this 6-by-6-inch cake for his girlfriend. Anything less than unanimity — say if one juror accepts Haspil's EED defense and 11 do not — will cause a mistrial. Killer Tyrese Haspil, left, and Fahim Saleh in the lobby of Saleh's Lower Manhattan condo complex, one minute before the attack. Tyrese Haspil, accused of the 2020 murder-dismemberment of tech CEO Fahim Saleh, in state Supreme Court in Manhattan. Fahim Saleh is facing his killer, Tyrese Haspil, as the elevator doors close on the victim's apartment.
Persons: , They'll, Tyrese, Fahim Saleh, Haspil, Saleh, Tyrese Haspil, Louis Vuitton, Chauveau, Alan Chin, who'd, Barry Rosenfeld, he'd, Linda Ford, He'd, Exed, Tasers, Fahim Saleh's, Joseph Goldstein, Sam Roberts —, Society — Organizations: Service, Business, Attorney, Louis, Manhattan, Home Depot, York Penal Law, Amazon, Buy.Taser.com, New York, Society Locations: Manhattan, France, Lower Manhattan, American, Gokada, Nigeria, Brooklyn, Lagos, New York, balaclava, New
Throughout my time working at CNBC, I've chatted with different entrepreneurs, from people who started successful side hustles to the founders of global unicorn companies. In my conversations with successful entrepreneurs, I've found that those who became successful and "made it" tend to echo the same advice. Advice #2: Lean into what makes you uniqueAnother piece of advice Mahlum gave is to lean into what makes you yourself. "I think the best advice that I can give to fellow entrepreneurs is to be different," he told CNBC. Advice #4: Just get startedIn all my conversations with entrepreneurs, by far, the one piece of advice I've heard the most, is to simply get started.
Persons: Shawn Tsao, I've, Jason McGowan, McGowan, they'd, Anne Mahlum, Solidcore Anne Mahlum, Mahlum, Edward Tirtanata, Tirtanata, Uber, Jack Organizations: CNBC, I've, Lean, Nike Locations: New York, Solidcore, Indonesian, Southeast Asia
Courtesy of Danielle BeneckeA lawyer's copilotFounded in 1949, Baker McKenzie has over 6,500 lawyers working in 70 offices worldwide. The firm's work building generative AI to produce legal draft advice for high-volume employment-law questions recently won an award from Law.com. Courtesy of Jake HellerAI won't replace lawyersThere's another fear likely to push lawyers toward AI: other lawyers. Lawyers might also turn to AI to address a force meant to tame AI: regulation. "I think in three to five years, not using AI for legal work will be tantamount to refusing to use online search for legal work today," Ziniti said.
Persons: Michael Cohen, Donald Trump, Cohen, isn't, Danielle Benecke, Baker McKenzie, Benecke, Cecilia Ziniti, It's, copilot, Ziniti, Cecilia Ziniti Ziniti, CoCounsel, CoCounsel isn't, Jake Heller, Thomson, Heller, they'd, it's Organizations: Google, Law.com, Federal Trade Commission, Microsoft, AI's, IBM, CoCounsel, Thomson Reuters, Times, American Bar Association
Read previewNATO member Denmark has given Ukraine permission to use the F-16s it receives to hit military targets within Russia. AdvertisementThe exact number of F-16s Ukraine will get to begin with is unclear, but it's not expected to be many. But in Russia, Ukrainian aircraft can also expect to battle the Russian Air Force in addition to enemy air defenses. It would also bolster a capability that has been heavily strained by relentless Russian attacks, and that's air defense. But they said these fighter jets will be useful for Ukraine by replenishing lost aircraft, deterring Russian jets, and acting as defenses.
Persons: , George Barros, Israel Aerospace Industries Barros, it's, Mark Cancian, Tim Robinson, Peter Layton, Volodymyr Zelenskiy, Mette Frederiksen, Ritzau Scanpix, Mads Claus Rasmussen, there's, Michael Clark, Clark, Cancian, ISW, Layton, Robinson, DIMITAR DILKOFF, Noble, Chanceler Organizations: Service, Business, Ukraine, Analysts, Israeli Military Industries Systems, Israel Aerospace Industries, Marine, Center for Strategic, International Studies, UK's Royal Aeronautical Society, Griffith Asia Institute, Royal Australian Air Force, Denmark's, Skrydstrup Airbase, REUTERS, Politico, Republicans, Russian Air Force, Getty, Noble Eagle, US Air Force Locations: Denmark, Ukraine, Russia, Moscow, Russian, Israeli, Netherlands, Norway, Belgium, France, Skrydstrup, Vojens, Arizona, Romania, British, Crimea, Ukrainian, AFP
In this pool photograph distributed by the Russian state agency Sputnik, North Korea's leader Kim Jong Un (R) and Russian President Vladimir Putin meet in Pyongyang, early on June 19, 2024. What can North Korea get from Putin? In return, Russia is likely providing North Korea with food, fuel and military technology for its satellites and submarines, analysts say. Russian President Vladimir Putin is arriving to North Korea with a two-day visit. As such, North Korea offers Russia another source of military hardware.
Persons: Kim Jong Un, Vladimir Putin, Anthony Wallace, Vladimir Putin's, Kim Jong, Putin, KCNA, Kim, Putin's, , Gavriil Grigorov, Rodger Baker, James Brady, Victor Cha, Pyongyang's, Putinon, Brady, Cha, Putin hasn't Organizations: Pyongyang Sunan International Airport, Afp, Getty, North, Sputnik, Applied, CNBC, North Koreans, Putin, . Workers, Center for Strategic, International Studies Locations: Pyongyang, Seoul, Korean, North Korea, Russia, North, Koreans, Russian, Ukrainian, Moscow, Ukraine, Korea, China, USSR
Mayor Eric Adams said in a statement that he would activate the city’s heat emergency plan starting on Tuesday. “The first heat wave of the season is here, and New York City has a plan to beat the heat — but we want all New Yorkers to have a plan as well,” Mr. Adams said. The city’s Heat Vulnerability Index — an effort spearheaded by the health department in conjunction with Columbia University — analyzes the neighborhoods that face the most danger during a heat wave. If everybody’s doing it, you’re multiplying it by millions.”Are heat waves in New York City becoming more common? The only heat wave to hit New York City last year happened in September, said David Stark, a meteorologist with the National Weather Service of New York.
Persons: Eric Adams, , Mr, Adams, Ashwin Vasan, Anna Watts, Sandee, Columbia University —, Brian Ourien, ” Mr, Ourien, Zach Iscol, Vasan, , Con Ed, Brittainy Newman, Patrick McHugh, Con Ed ., McHugh, David Stark, Elijah Hutchinson, Hutchinson Organizations: Fire Department, National Weather Service, The New York Times, , New York Public Library, Columbia University, Department of Health, Human Services, Bowery, Emergency Management, Workers, Con, New, New York City, Environmental Locations: New York City, New York, New, York, Bronx , Brooklyn, Queens, Mott Haven, Fordham, Jamaica, Hollis, St, Albans, In Brooklyn, Brownsville , East Flatbush, East New York
With trillions of dollars in tax breaks scheduled to expire after 2025, financial advisors are working with clients to prepare for the looming tax cliff. Enacted by former President Donald Trump, the Tax Cuts and Jobs Act of 2017, or TCJA, included lower federal income tax brackets, bigger standard deductions and higher gift and estate tax exemptions, among other provisions. If Congress doesn't take action, those tax breaks will sunset after 2025. And if the TCJA provisions expire, more than 60% of tax filers could face increased taxes, according to the Tax Foundation. Here are some tax strategies advisors are discussing with their clients.
Persons: Donald Trump, Jim Guarino, Baker Newman Noyes, Mary, Guarino Organizations: Tax, Finance Locations: Woburn , Massachusetts
New York CNN —Tesla shareholders on Thursday confirmed they want Elon Musk to get a massive record pay package for running Tesla for the last six years. “The chancellor found a number of defects in the process.”But Tesla shareholders also approved moving Tesla’s state of incorporation to Texas, partly in reaction to the Delaware decision. “What we recognized in 2018 and continue to recognize today is that one thing Elon most certainly does not have is unlimited time,” Tesla board chair Robyn Denholm wrote to Tesla shareholders ahead of the most recent vote. Ark Invest has a five-year target price for Tesla shares at $2,600 a share. Not everyone on that list got there through packages of stock options.
Persons: Elon Musk, Tesla, Chancellor Kathaleen McCormick, Musk, It’s, “ It’s, Samantha Crispin, Baker Botts, , ” Musk, McCormick’s, Elon, ” Tesla, Robyn Denholm, , Tasha Keeney, ” Elon Musk, Jeff Bezos, Bernard Arnault, Mark Zuckerberg, Larry Page, Bill Gates —, Zuckerberg, McCormick Organizations: New, New York CNN, CNN, Tesla, ARK Invest, Elon, Invest, Microsoft, Apple, SpaceX, Amazon, Facebook Locations: New York, Delaware, Texas, , Tesla
While original tickets have already sold out, we've put together everything you need to know when it comes to how to buy All Things Go tickets. The All Things Go festival first took place in 2014 at Union Market and has since expanded in scope and following. How to get All Things Go ticketsOriginal tickets to All Things Go tickets were available through the festival's website, but they sold out pretty quickly. Original All Things Go tickets started at $119 for single-day passes to the DC festival (or $199 for two-day passes) and $149 for two-day passes to the NYC festival (no single-day tickets were sold). At the time of writing, Vivid Seats' cheapest two-day ticket listings for the NYC festival start at $242, and the cheapest two-day listings for the DC festival start at $650.
Persons: we've, Chappell Roan, Reneé Rapp, Janelle Monáe, Conan Gray, Marren Morris, Remi Wolf, Ethel Cain, Julien Baker, Michael Kiwanuka, Maisie Peters, Briston Maroney, Sammy Rae, De Souza, GrentPerez, Rachel Chinouriri, Annie Dirusso, Allison Ponthier, Oliver Malcolm, Maren Morris, Holly Humberstone, David Kushner, Lola Young, Towa, Abby Roberts, Muna, & Clair Clair Organizations: Business, DC, Union Market, Kennedy Center Orchestra, The, & Locations: DC, Columbia , Maryland, Forest Hills , New York, New York, Flipturn, Del, Towa Bird
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