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☆ Top news outlets acknowledge Hur’s characterization of Biden’s mental state didn’t match reality
▼ + stars: | 2024-03-13 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

The Wall Street Journal declared that the transcripts of Biden’s deposition with Hur released on Tuesday painted “a more nuanced picture” than the report indicated. Strangely, that characterization of Biden didn’t find its way into his report — and, thus, the crush of ensuing news stories. To be fair to news organizations, they were faced with a thorny, difficult decision after the Hur report dropped. On the other hand, leaning hard into the report, producing scores of stories and television segments about Hur’s characterization of Biden’s age, proved ultimately to be unwise as well. What news organizations can do now, however, is forcefully acknowledge that the deposition transcript poured cold water on Hur’s over-the-top characterization of Biden’s mental fitness.

Persons: Joe, Robert, Hur, Biden, “ clearheaded, Biden “ doesn’t, Charlie Savage, ” Hur, Biden didn’t, commendably, Bill Grueskin, ” Organizations: New, New York CNN, Street Journal, New York Times, Washington Post, Fox, Biden, Columbia Journalism School Locations: New York, ”, That’s, U.S, Afghanistan, Wilmington

☆ John Oliver can't look away from the 'Katespiracy' either
▼ + stars: | 2024-03-13 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

John Oliver is getting swept up in the "Katespiracy" too. Oliver said he didn't care about where Kate Middleton had gone until he saw the doctored photo of her. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementIt's not just the internet — the "Katespiracy" has John Oliver in its clutches, too. The bizarre turn of events was puzzling for Oliver and Cohen, with the latter expressing his bemusement at Kate's apology.

Persons: John Oliver, Oliver, Kate Middleton, —, It's, we've, Andy Cohen, Kate, Kensington, Wales, Cohen, Oliver hasn't, Queen Elizabeth II, Kate's, Prince William Organizations: Service, Associated Press, Reuters, Agence France, BI Locations: British

☆ Don Lemon says Elon Musk canceled his deal with X after ‘tense’ interview
▼ + stars: | 2024-03-13 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

New York CNN —Don Lemon’s partnership with Elon Musk went down in flames Wednesday, hours after the former CNN anchor conducted an interview with the erratic billionaire for the debut episode of his new independent web-based show. But a spokesperson for Lemon told CNN that the media personality expects Musk to honor the financial terms of the agreement. “Don has a deal with X and expects to be paid for it,” the spokesperson said. “If we have to go to court we will.”Musk has claimed to believe in free speech absolutism, but he has repeatedly taken steps to limit the speech of critics. And I own this one as well.”This story has been updated with a statement posted by X.

Persons: Don Lemon’s, Elon Musk, “ Elon, ” Lemon, Musk, Don Lemon, ”, Lemon, X, “ Don, ” Musk, “, Nikki Haley Organizations: New, New York CNN, Elon, CNN, X, watchdogs, GOP Locations: New York

☆ EV euphoria is dead. Automakers trumpet consumer choice for U.S. car shoppers
▼ + stars: | 2024-03-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Andrew Merry | Moment | Getty ImagesDETROIT — The buzz around electric vehicles is wearing off. U.S. EV sales were a record 1.2 million units last year, representing 7.6% of the overall national market, Cox Automotive estimates. "Moving on to less tech-savvy buyers will slow the EV market share growth over the next few years." Automakers wanted to emulate Tesla's success, with some promising to exclusively offer EVs in the not-too-distant future. "Toyota is almost completely absent from the [battery electric vehicle] market yet will gain more U.S. market share than any other car company this year.

Persons: hasn't, Andrew Merry, Aston Martin, Tesla, Elon Musk, Marin Gjaja, Ford, Pablo Di Si, Sam Fiorani, Romeo, Bentley, Mary Barra, there's, Cadillac, John Roth, We've, Gjaja, Jim Farley, Rebecca Cook, Oliver Blume, Akio Toyoda, Morgan Stanley, Adam Jonas, It's, Biden, Cox, Michelle Krebs, EVs, Trisha Jung Organizations: DETROIT, EV, Ford Motor, General Motors, Mercedes, Benz, Volkswagen, Jaguar, Rover, CNBC, GM, Hyundai Motor, Kia, Toyota Motor, VW, U.S, Cox Automotive, AutoForecast Solutions, Volvo, Buick, Cadillac, Honda, Ford Motor Co, Ford, Amperex Technology, Toyota, Cox, Tesla, Nissan, Nissan U.S, Environmental Protection Agency, Alliance for Automotive Innovation, American Automotive, Detroit automakers Locations: EVs, Europe, U.S, North America, Warren , Michigan, Detroit, Marshall , Michigan, Romulus , Michigan

☆ Porsche warns of fall in profitability but hikes dividend on strong 2023 results
▼ + stars: | 2024-03-12 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

The Porsche Mission X on display at the IAA Mobility 2023 show in Munich, Germany. Porsche on Tuesday warned that profitability will decline this year as it launches new models amid tough economic conditions, but hiked its dividend on the back of a rise in 2023 operating profit. Porsche's sales revenue rose 7.7% in 2023 to 40.53 billion euros ($44.29 billion), the company announced, while operating profit jumped 7.6% to 7.28 billion euros. "Porsche proved in 2023 that we are resilient, highly profitable and financially robust even in volatile times. Sales are expected to come in between 40 billion and 42 billion euros in full-year 2024.

Persons: Oliver Blume, Lutz Meschke Organizations: Porsche, Volkswagen Locations: Munich, Germany

☆ CNBC invited Trump on its air. The network didn’t even try to stop his lies
▼ + stars: | 2024-03-12 | by ( Oliver Darcy | ) edition.cnn.com time to read: +7 min

“I believe on the ‘Squawk’ news line, we are joined by former President Donald J. Trump, DJT 45. It’s been a while, Mr. President,” Joe Kernen, co-host of “Squawk Box,” greeted Trump on the air. Almost immediately after commencing the interview, Trump launched into one of his trademark, fact-free rants. Instead, the outlet quickly spliced Trump’s comments into a handful of clips and posted them online, amplifying his comments further. “We appreciate all the time you’ve given us this morning, Mr. President,” Kernen said.

Persons: Donald Trump, “, Donald J, Trump, It’s, ” Joe Kernen, ”, Kernen, Joe Biden’s, Biden, ” Trump, Andrew Ross Sorkin, Sorkin, Brian Roberts, Rachel Maddow, “ Biden, Fani Willis, Jean Carroll, ominously, ” Kernen Organizations: New York CNN, CNBC, Monday, Republican, U.S . Energy Information Administration, Trump, NBCU News Group, Comcast, NBC, MSNBC Locations: New York, Joe Biden’s State, U.S, Trump, China, Fulton County

☆ Max Verstappen jokes about ‘88 missed podiums’ after earning landmark 100th top three finish with victory at Saudi Arabian GP
▼ + stars: | 2024-03-10 | by ( Matias Grez | ) edition.cnn.com time to read: +4 min

“It’s 88 missed podiums!” he joked when asked by a reporter about his record in 188 career races, though this was only Verstappen’s 187th. On Friday, Red Bull suspended the female employee who accused F1 team principal Christian Horner of inappropriate behavior, according to multiple reports. Red Bull launched an independent investigation in February after Horner was accused of engaging in inappropriate behavior towards a member of the racing team, who has not been identified. CNN has been unable to corroborate their authenticity and Red Bull said it would be “inappropriate” to comment on the matter. Christian Horner and Red Bull have faced controversy to start the season.

Persons: Max Verstappen, he’s, “, I’m, Sergio Pérez, Ferrari’s Charles Leclerc, Verstappen, Red Bull, Christian Horner, Horner, Clive Rose, Oliver Bearman, Carlos Sainz, Fernando, Alonso, George, Russell, Oscar Piastri, Fernando Alonso, Aston Martin, George Russell, Piastri’s, Lando Norris, Lewis Hamilton, Haas, Niko Hulkenberg Organizations: CNN, Saudi, Verstappen, Pérez, Prix, Ferrari, Mercedes Locations: Jeddah, P6

☆ Can the woolly mammoth really be resurrected? Scientists take a small step closer
▼ + stars: | 2024-03-09 | by ( Katie Hunt | ) edition.cnn.com time to read: +7 min

The stem cells will also make it easier for conservation scientists to study the Asian elephant’s unique biology. An Asian elephant stem cell line stained in different colors to highlight different elements. Courtesy ColossalEngineering a woolly mammoth hybridThe elephant stem cells also hold the key to the mammoth’s rebirth. The research team at Colossal has already analyzed the genomes of 53 woolly mammoths from ancient DNA recovered from fossils. The number of modifications needed to make an Asian elephant resistant to the cold would be broadly similar, he said.

Persons: George Church, Ben Lamm, Eriona, Eriona Hysolli, John Davidson “, ”, Hysolli, Oliver Ryder, Ryder, ” Ryder, Christopher P, Michel “, Ben’s, Lamm, “, That’s, We’ve, tramping, Colossal Organizations: CNN, Harvard University, Church, Dallas, Biosciences, Colossal, San Diego Zoo Wildlife Alliance, Colossal Biosciences, Christopher Locations: Dallas, ”, Siberia

☆ Why Donald Trump’s Super Tuesday win is a defeat for Rupert Murdoch
▼ + stars: | 2024-03-07 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

New York CNN —Donald Trump just defeated Rupert Murdoch (again). That’s an outcome that Murdoch, the billionaire media mogul and one-time Republican kingmaker who controls Fox News, had hoped to avoid. Trump himself understood that Murdoch has not wanted him to serve as the Republican nominee. Now that Trump has secured command over the GOP, it is déjà vu for Murdoch. Put more simply: Trump has checkmated Murdoch, clearing one more hurdle standing in his way on the path to the White House.

Persons: Donald Trump, Rupert Murdoch, Nikki Haley, Murdoch, kingmaker, Ron DeSantis, Trump, DeSantis, we’ve, Megyn Kelly, Joe Biden, —, checkmated Murdoch Organizations: New York CNN, Republican Party, GOP, Fox News, Trump, Dominion Voting Systems, Republican, Florida Gov, New York Post, Democratic Party, Fox, Democratic Locations: New York, Florida, DeSantis, Trump’s

☆ MH370 investigation: 10 years on, is the world any closer to finding Malaysia Airlines flight?
▼ + stars: | 2024-03-07 | by ( Chris Lau | ) edition.cnn.com time to read: +12 min

A helicopter takes off from Chinese warship Jinggangshan during an early search for the missing Beijing-bound Malaysia Airlines flight 370 on March 11, 2014. Beijing-bound Malaysia Airlines flight 370 dropped off the radar shortly after departing Kuala Lumpur in the small hours of March 8, 2014. Families of passengers from China and Malaysia on board MH370 during a remembrance event commemorating the 10th anniversary of its disappearance, in Subang Jaya, Malaysia, on March 3, 2024. Hasnoor Hussain/ReutersAviation experts tell CNN that improved detection technology will likely bring families closer to the missing plane than they ever have been, if a search were to be relaunched. Phoenix Autonomous Underwater Vehicle (AUV) Bluefin-21 is craned over the side of Australian Defense Vessel Ocean Shield in the search for missing Malaysia Airlines flight 370 on April 14, 2014.

Persons: MH370, Jiang Hui, ” Jiang, “, ”, Jiang Cuiyun, It’s, V.P.R Nathan, Anne Daisy, Hasnoor Hussain, Anthony Loke, Grace Subathirai Nathan, Adli Ghazali, Oliver Plunkett, it’s, ” Geoffrey Thomas, AirlineRatings.com, Leut Kelli Lunt, Richard Quest, Richard Godfrey, Godfrey, Fred Dufour, AirlineRatings’s Thomas, ” Godfrey, “ I’m, Sarah Bajc, Phil Wood, Bajc, Jiang Organizations: CNN, Malaysia Airlines, Reuters, Reuters Aviation, Malaysian, Transport, Malaysian Transport, Anadolu Agency, Getty, Boeing, Underwater, Australian Defense, Australia Department of Defence, CNN’s, Aviation, Radio, British Aerospace, MH370, British Locations: Beijing, China, Kuala Lumpur, Africa, Malaysia, Subang Jaya, United States, Madagascar, Putrajaya, Australia, Malaysian, Perth, AFP, Asia, Panama, Zhuji

Today, Celeste reads a “Modern Love” essay about exactly that bond, a mother trying desperately to reach her child. Why do you think you’re so drawn to tiny things? If you’re going to make something in miniature, you have to spend a lot of time really looking at it. Because, OK, Betsey’s daughter spray paints, “Too many bushes, not enough trees,” and you’re going around putting, honestly, beautiful lines of T.S. So there is something about that language that even if you think you’re rational, it’s getting to you somehow.

Persons: anna martin, ” I’m Anna Martin, you’re, Celeste Ng, Celeste, they’re, ” celeste, anna martin So, celeste ng, anna martin Tell, I’ve, I’m, celeste, anna martin Well, It’s, ”, Betsy MacWhinney, George W, Bush, Marissa, strode, “, Wendell Berry’s “, Mary Oliver, Oliver, Berry, Marissa didn’t, I’d, wouldn’t, anna martin Isn’t, Betsy, She’s, anna martin Really, anna martin Celeste, Eliot, you’ve, ” anna martin, celeste ng I’m, anna martin Talking, she’s, anna martin Wow, anna martin I, didn’t, who’s, anna martin Betsy, Wendell Berry, what’s, —, anna martin I’m, we’ve, He’s, anna martin He’d, Anna, Brittany Howard, brittany howard Love Organizations: The New York Times, eBay, Farmer, NASA Locations: manila, Sierra Leone, T.S, Hong Kong, There’s

☆ The New York Times is facing backlash over its coverage of Donald Trump and the 2024 election
▼ + stars: | 2024-03-05 | by ( Oliver Darcy | ) edition.cnn.com time to read: +7 min

New York CNN —The New York Times is facing a sustained wave of backlash. It is your agenda.”The Times is, of course, far from the only news organization that has faced criticism over how it has covered the 2024 race. There is a mountain of thorny issues at the doorstep of outlets like The Times — and often there is no clear answer. For example, after the 2020 election, the conventional wisdom was that the press should largely ignore Trump’s antics. “But if Democrats lose to Trump after all THAT coverage, the fault will not be in the media, but in themselves.”

Persons: Gray, Donald Trump, Trump, Joe Biden’s, ” Jeff Jarvis, CUNY Craig, ” Jarvis, MSNBC can’t, newsrooms, Biden, Harry Enten, Enten, ”, ” Clara Jeffery, Mother Jones, “, ” Bill Carter, Carter, ” Carter Organizations: New York CNN, The New York Times, The, Times, Biden, Trump, Siena College, CUNY, CUNY Craig Newmark Graduate School of Journalism, “ NY Times, The Times, ., CNN, MSNBC Locations: New York, American

☆ Rupert Murdoch pulls Fox News-style channel off the air in UK after failing to build an audience
▼ + stars: | 2024-03-05 | by ( Jon Passantino | Oliver Darcy | ) edition.cnn.com time to read: +3 min

After building a global newspaper empire and witnessing the ratings and profits success of the right-wing Fox News Channel in the US, Murdoch sought to break into the UK television business, replicating the opinion-driven talk format. “A large proportion of our live viewing is already through streaming on televisions and we intend to continue to grow this. Clips will continue to be shared through social media,” Taunton said. “More and more, audiences are consuming video news and opinion online through their phones and this evolution is set to continue. “Creating professional quality, TV-like video that does well digitally – via streaming services and social media – will be the focus of future investment for all our brands, including Talk.”

Persons: Rupert Murdoch, Scott Taunton, ”, Murdoch, ” Taunton, Piers Morgan, Morgan, ” Morgan, that’s, Tucker Carlson, Don Lemon, It’s, “ Organizations: New, New York CNN, Fox News, CNN, Fox News Channel, BBC, Sky News, YouTube Locations: New York, TalkTV

☆ Xabi Alonso becomes Europe’s most wanted coach as Bayer Leverkusen runs away with Bundesliga
▼ + stars: | 2024-03-04 | by ( Ben Morse | ) edition.cnn.com time to read: +5 min

Xabi Alonso was appointed the club’s head coach in October 2022, with Leverkusen languishing near the bottom of the German table. Prior to being appointed Leverkusen’s manager, Alonso had coached Real Madrid’s Under-14 team and Real Sociedad’s B team. We have seen in the past what else can happen,” Leverkusen defender Jonathan Tag told Dazn after the victory over Köln. There are 10 games remaining in the Bundesliga season and Leverkusen is the strong favorite to win its first ever league title. And with Leverkusen in semifinals of the domestic cup and the round-of-16 stage of the Europa League, Alonso could cap off a memorable second season in first-team management with a hat-trick of trophies.

Persons: ’, Michael Ballack, Oliver Neuville, Dimitar Berbatov, Zé Roberto, Zidane’s, Xabi Alonso, Alonso, Ina Fassbender, –, Jeremie Frimpong, Grimaldo –, Grimaldo, Frimpong, John Muller, “, ”, Jonathan Tag, Köln, Wolfgang Rattay, Thomas Tuchel’s Organizations: CNN, Bayer Leverkusen, Bundesliga, Borussia Dortmund, Champions League, Real Madrid, Leverkusen, Spain, Bayern Munich, English Premier League, Köln, Getty, Real Sociedad, Liverpool, Merseyside, League, Spanish national team, Real Madrid’s, Real, Benfica, The, Bayern, Europa League Locations: Liverpool, AFP, Istanbul, Leverkusen, Europe

☆ Malaysian authorities say they plan to start searching for the missing MH370 plane again, 10 years after it disappeared
▼ + stars: | 2024-03-04 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +2 min

Read previewMalaysian authorities announced on Sunday that they are planning to start searching for the missing Malaysian Airlines flight MH370 again, the Malaysian broadcaster Bernama TV reported. Loke said in Bernama TV's broadcast that the Malaysian government plans to spare no expense when it comes to finding the missing plane. As I have mentioned several times, as far as Malaysia's government is concerned, we are committed to that search," Loke said. Oliver Plunket, the CEO of Ocean Infinity, told the local newspaper New Straits Times that it had already submitted its proposal to the Malaysian government. Ocean Infinity did not immediately respond to a request for comment from BI.

Persons: —, MH370, Anthony Loke, Loke, Oliver Plunket, Plunkett Organizations: Service, Malaysian Airlines, Bernama, Transport, Malaysian, Business, New Straits Times Locations: Malaysian, Kuala Lumpur, Malaysia, Austin, Beijing

☆ Gen AI is here to stay — here are 5 skills to help you stay relevant in the changing job market
▼ + stars: | 2024-03-04 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +4 min

Generative AI isn't just a buzzy new topic – it's revolutionizing the workforce. Generative AI is a type of artificial intelligence capable of generating images, text or other content. Nearly three in five whitecollar employees report using generative AI on a weekly basis. Oliver WymanOliver Wyman conducts monthly surveys of more than 200,000 people across 20 countries to gather data about attitudes surrounding Generative AI and other trends. "Generative AI lacks the contextual nuance and ethical judgment that humans should apply in analysis," a spokesperson for Oliver Wyman told CNBC Make It.

Persons: ChatGPT, Oliver Wyman Oliver Wyman, Oliver Wyman, we’re Organizations: McKinsey, CNBC

☆ Brit Awards 2024: See who won
▼ + stars: | 2024-03-01 | by ( Dan Heching | ) edition.cnn.com time to read: +4 min

English singer-songwriter RAYE leads the contenders and has the most nominations ever at the Brits, with seven. RAYE also already won the songwriter of the year award ahead of the ceremony. In the best new artist category, RAYE is joined by Mahalia, Olivia Dean, PinkPantheress and Yussef Dayes. Frank Hoensch/Redferns/Getty ImagesThe Brit Awards event, taking place at the O2 Arena in London, is being hosted by Maya Jama, Roman Kemp and Clara Amfo. Announced performers set to take the stage include Dua Lipa, Kylie Minogue, RAYE, Tate McRae, Jungle and more.

Persons: RAYE, Blues ”, Arlo Parks, Jessie Ware, Little Simz, Olivia Dean, PinkPantheress, Dayes, Rachel Agatha Keen, Frank Hoensch, Maya Jama, Roman Kemp, Clara Amfo, Kylie Minogue, Tate McRae, Minogue, Calvin Harris, Ellie Goulding, “, ” Cassio, Raye, Central, Ed Sheeran, Hus, Drake, Kenya Grace, ” Lewis Capaldi, ” RAYE, Rudimental, Charlotte Plank, Debbie, Ella Henderson, Goddard, Darren ” J Hus, Mahalia Olivia Dean PinkPantheress RAYE, Yussef Dayes, Damien Meyer, J Hus Jessie Ware Little, Olivia Dean RAYE, Helle Arensbak, Ritzau Scanpix, Barry Can’t, Becky Hill Calvin Harris, Fred, Romy R, Cleo Sol Jorja Smith Mahalia RAYE, Calvin Harris Charli, Olivia Dean RAYE Hip, Cee Dave J Hus, Simz Calvin Harris, David Becker, Caroline Polachek CMAT Kylie Minogue Lana Del Rey Miley Cyrus Olivia Rodrigo SZA, Taylor Swift, Billie Eilish, ” David Kushner, ” Meghan Trainor, Miley Cyrus, Noah Kahan, Oliver Tree, Robin Schulz, Olivia Rodrigo, Peggy Gou, Bill ” Tate McCrae, Baser Sekou Organizations: CNN, Blues, Dua, Mahalia, O2, “ Prada, “, Getty, Arlo, Cee, Olivia Dean RAYE Group, Young, International Group, Foo, Pop Locations: United Kingdom, London, Dua Lipa, Dua, Kenya, France, Cee Dua, Aarhus, Denmark, AFP

☆ The New York Times stands by its reporting on the Hamas terror attack after questions are raised
▼ + stars: | 2024-03-01 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

New York CNN —The New York Times is facing questions about a sweeping investigative story it published on the Israel-Hamas war back in December. But key elements of The Times’ reporting in telling that larger story have since fallen under the microscope. “We weren’t aware of the rape initially; we were informed only when The New York Times’ journalist approached us,” her mother told the Israeli outlet YNet. we don’t know exactly what happened.”“It was only following the New York Times investigation that we learned from the journalists that my sister had been raped,” Abdush’s brother added to YNet. In this case, there is a large volume of evidence to indicate that Hamas carried out sexual assaults during the October 7 attack.

Persons: ‘, —, Jeffrey Gettleman, Anat Schwartz, Adam Sella, Schwartz, “, Gal Abdush, ” Abdush, Jeremy Scahill, Ryan Grim, Daniel Boguslaw, ’, Abdush’s, ”, Gal, Boguslaw, Grim, Gray, Charlotte Klein Organizations: New York CNN, The New York Times, CNN, The, Pulitzer, Times, The Times, New York Times, YNet Locations: New York, Israel, Gaza

☆ Judge holds veteran journalist Catherine Herridge in contempt for refusing to reveal her sources
▼ + stars: | 2024-02-29 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

CNN —A federal judge on Thursday held veteran journalist Catherine Herridge in contempt of court, fining her $800 a day for refusing to divulge her sources for a series of stories published in 2017 while she was a correspondent at Fox News. Citing documents reviewed by Fox News, Herridge reported that Chen was the subject of an investigation by the FBI. In an effort to prove her case, Chen subpoenaed Herridge and Fox News, with the hope of unmasking the reporting’s sources. Fox News and Herridge aggressively fought the move, arguing that Cooper should quash the subpoenas because of First Amendment protections afforded to the press. The legislation would offer important safeguards to journalists, including preventing the government from compelling reporters to disclose their sources.

Persons: Catherine Herridge, Christopher Cooper, Yanping Chen, Herridge, Chen, Cooper, Herridge’s, ” Cooper, ”, “, ” Herridge, ” Caitlin Vogus Organizations: CNN, Fox News, CBS News, US, Court, District of Columbia, Federal Bureau of, FBI, ” Fox News, FOX, Media, Press Foundation, Exploitive

Birkenstock on Thursday beat holiday quarter revenue expectations, reporting a 26% year-on-year jump, as the German sandal company benefited from higher pricing and rising U.S. demand. Adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) rose 12% year-on-year to 81 million euros, with an adjusted EBITDA margin of 26.9%, down from 29.1% a year earlier. "However, in the medium-term, we are confident we will continue to deliver our objectives of a gross profit margin over 60% and an adjusted EBITDA margin in the low thirties percent." Within a few years, its sales nearly doubled and its market cap is now around $9.7 billion, double its 2021 valuation of $4.85 billion. Since going public, Birkenstock has used some of its proceeds to pay down debt.

Persons: Oliver Reichert, Reichert, Armour, Birkenstock, Johann Adam Birkenstock Organizations: LSEG, New York Stock Exchange, Nike, Catterton Locations: North America, Birkenstock

However, the company also said it sees single-digit revenue growth for fiscal 2025. UBS reiterated a neutral rating alongside its $310 per share price target on Salesforce, or more than 3% upside ahead. Product revenue growth of 33% year over year in the fourth-quarter was also below Wall Street estimates. Murphy noted there's a disconnect between what Barrick has accomplished in the past five years and its stock price. "We see asset disposals and cost improvements as likely to reverse share price weakness as the market recognizes the strength of the asset portfolio."

Persons: Morgan Stanley, Snowflake, Jefferies, TD Cowen downgrades Macy's TD Cowen, Oliver Chen, Macy's, — Brian Evans, Brad Sills, Brian Evans, AutoNation Morgan Stanley, AutoNation, Morgan Stanley's, Mike Manley, Adam Jonas, Salesforce, Amy Weaver, Goldman Sachs, Kash Rangan, Bank of America's Brad Sills, Morgan Stanley downgrades Snowflake, Snowflake's, Frank Slootman, Keith Weiss, Matthew Murphy, Murphy, Fred Imbert Organizations: CNBC, Barrick, Mining, Bank of America, of America, TAM, Bank of America's, UBS, StreetAccount, Jefferies, Barrick Gold, Newmont, Newcrest Locations: Africa, East

☆ White House calls on Fox News executives to retract bogus FBI informant claims against Biden
▼ + stars: | 2024-02-29 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

New York CNN —The White House is formally calling on Fox News to walk back its coverage of bribery and corruption allegations against President Joe Biden. The letter is the latest from the Biden White House, which has taken a more aggressive approach to news coverage of the president that it sees as unfair in the run-up to the November election. Earlier this month, Sams sent a letter to the White House Correspondents’ Association, protesting coverage of Special Counsel Robert Hur’s report on Biden’s handling of classified material. Since Fox News has declined to take the responsible course of action and meaningfully correct the record, the White House is now moving to formally request the network do so. And, in a statement the network provided to CNN, Fox News didn’t directly address the White House’s request.

Persons: Joe Biden, Ian Sams, Fox, ” Sams, Suzanne Scott, Jay Wallace, Bryan Boughton, Sams, Robert Hur’s, Biden, “, Jesse Watters, Sean Hannity, Alexander Smirnov, Hannity, Watters, Smirnov, Brooke Singman, newsrooms, Fox News didn’t, ” Organizations: New York CNN, Fox News, White House, FBI, Biden White, White, ’ Association, Fox, Voting Systems, Fox News Channel, CNN, “ Fox News Media Locations: New York, Washington

☆ News outlets are collapsing as advertisers flock to social media platforms, with major implications for society
▼ + stars: | 2024-02-28 | by ( Oliver Darcy | ) edition.cnn.com time to read: +7 min

New York CNN —Social media companies are soaking up the billions in advertising dollars that once flowed to legacy media companies — a trend that continues to accelerate despite an ever-growing mountain of evidence indicating the Silicon Valley titans govern their ballooning kingdoms with little regard for how their products negatively impact society. Time and time again, companies like Instagram, YouTube, TikTok, Snapchat and others have been caught allowing harmful content to exist on their platforms. The committee heard testimony from the heads of the largest tech firms on the dangers of child sexual exploitation on social media. To be fair, brands would likely prefer to advertise on the platforms of responsible media actors versus the risky world of social media. But Big Tech offers these brands much more effective targeting, while boasting a larger and younger audience than legacy news organizations.

Persons: BuzzFeed, You’re, It’s, Meta, ”, Jeff Horowitz, Katherine Blunt, Mark Zuckerberg, Anna Moneymaker Organizations: New York CNN, Social, Media, New York Times, CNN, YouTube, Times, Meta, Dirksen, Facebook, Big, Big Tech, News Locations: New York, Snapchat, Washington ,

☆ Macy's new growth strategy fits the 'less is more' theme, says TD Cowen's Oliver Chen
▼ + stars: | 2024-02-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMacy's new growth strategy fits the 'less is more' theme, says TD Cowen's Oliver ChenOliver Chen, TD Cowen senior retail analyst, joins 'Money Movers' to discuss Macy's plans to close 150 stores and undertake a new growth strategy, why it's a bold move for the company, and what's working for Macy's.

Persons: Cowen's Oliver Chen Oliver Chen, TD Cowen Organizations: Macy's

☆ Kara Swisher warns news organizations need to ‘reinvent’ themselves amid existential crisis
▼ + stars: | 2024-02-27 | by ( Oliver Darcy | ) edition.cnn.com time to read: +9 min

We spoke to Swisher on Monday to get her insight on some of the challenges facing the media and tech landscape today. And they didn’t anticipate that these tech companies were going to get into media. If so, why haven’t legacy media companies been able to lure in top tech talent to improve their products? Media companies do not get to live by the same anti-gravity rules that tech companies have been able to. But media companies didn’t offer the same kind of upside.

Persons: New York CNN — Kara Swisher, ” Swisher, Swisher, it’s, BuzzFeed, they’ve, Steve Jobs, Rupert Murdoch, “, Donald Trump’s, Joe Biden’s, It’s, You’ve, Elon Musk, Bill Ackman, I’m, Elon, Tyler Perry, Sora, everyone’s, Adrian Chen, …, AllThingsD, Uber, We’ve, haven’t Organizations: New York CNN, Craigslist, . Media, Big Tech, New York Times, Harvard, The New York Times, Google Locations: New York

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