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☆ Warren Buffett speaks out against creating family wealth dynasties, gives away another $1.1 billion
▼ + stars: | 2024-11-25 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Buffett believes family wealth dynasties could have negative consequences such as eroding personal growth and complicating relationships. "I've never wished to create a dynasty or pursue any plan that extended beyond the children," Buffett wrote in a lengthy letter Monday. He has appointed three trustees of his charitable trust to potentially succeed his children in disbursing his wealth. They are also somewhat younger than my children," Buffett wrote. He said he's built strong trust in his children's managerial ability and philanthropic ambition through years of observation.

Persons: Warren Buffett, Buffett, I've, Susie, Howie, Peter, disburse, he's Organizations: Oracle, BNSF Railway Locations: Berkshire Hathaway, Berkshire, Omaha , Nebraska, Omaha, Buffett's Berkshire

☆ State Farm signs JuJu Watkins and increases investment in women's sports
▼ + stars: | 2024-11-25 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

State Farm has signed USC star JuJu Watkins to an NIL deal as it increases its investment in women's sports. State Farm is furthering its investment in women's sports with two new deals. State Farm will kick off the NIL partnership with Watkins starring as a "new neighbor" in a co-branded ad spot with mascot/spokesman Jake from State Farm. State Farm's investments in women's sports now include the National Women's Soccer League, the Women's National Basketball Association, National Collegiate Athletics Association basketball regular season and women's Olympic basketball and volleyball. State Farm saw an additional 28% boost in effectiveness when the spots aired during her Iowa Hawkeyes games.

Persons: JuJu Watkins, Kristyn Cook, Watkins, Jake, they've, Caitlin Clark, Sue Bird, Cook, Clark Organizations: USC, Farm's, Farm, University of Southern, State, National Women's Soccer League, National Basketball Association, National Collegiate Athletics Association, WNBA, EDO, Iowa Hawkeyes Locations: Watkins, University of Southern California

☆ Bitcoin's march to $100,000 stalls. Here's what's keeping it below the milestone
▼ + stars: | 2024-11-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Bitcoin hit a new record high last week, with prices climbing above $99,000 for the first time. CNBC asked analysts for their take on why bitcoin has so far failed to breach the widely-watched $100,000 mark. "There's a ton of leverage in the system right now," Novogratz, a longtime crypto investor, told CNBC's "Squawk Box" on Friday. Novogratz added that he's advocating investors buy "straight bitcoin" rather than bitcoin-exposed plays, such as MicroStrategy which owns a huge, multi-billion-dollar pile of bitcoin in its corporate treasury reserves. Deutsche Bank's Laboure said she thinks the idea of a U.S. national bitcoin is still far off, practically speaking.

Persons: Fernando Gutierrez, Donald Trump, Trump's, hasn't, bitcoin, Andre Dragosch, Bitwise, Bitcoin, Dragosch, Novogratz, CNBC's, David Morrison, Morrison, Marion Laboure, Trump, Gary Gensler —, Deutsche Bank's Laboure, Laboure Organizations: Getty, CNBC, Galaxy Digital, Trade, Deutsche Bank, bitcoin, Trump, Securities, Exchange, Deutsche Locations: Juarez, Europe, U.S

☆ Russia's invasion is showing the West war isn't just about having the best weapons — it's also about having more
▼ + stars: | 2024-11-25 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +7 min

But it needs to invest more in quantity if it wants to defend against Russia, warfare experts said. Russia's invasion of Ukraine is showing the West the value of quantity over quality. AdvertisementAnd in the aftermath of the Cold War, Western stockpiles of weaponry diminished and industry shrunk, leaving it less prepared to build large quantities of munitions and equipment. Advertisement"Assuming that you don't decisively defeat the Russians in the opening phase of the war," Barros said, "you're going to burn through all your ATACMS and HIMARS missiles and artillery ammunition." In an image taken from a video distributed by the Russian Defense Ministry Press Service in October, a Russian 120mm mortar crew fires toward a Ukrainian position.

Persons: Zelenskyy, Mick Ryan, George Barros, Abrams, Michael O'Hanlon, Barros, ANATOLII STEPANOV, that's, isn't, O'Hanlon, William Alberque, Alberque Organizations: Australian Army, Institute for, NATO, American, Brookings Institution, Getty, Stimson Center, Russian Defense Ministry Press Service, AP Locations: Ukraine, Western, Russia, China, West, Soviet, Ukraine Russia, Russian, Ukrainian, North Korea, Iran

CNN —Special counsel Jack Smith is dropping the federal election subversion and the mishandling of classified documents cases against President-elect Donald Trump, seeking the cases’ dismissal in court filings Monday. Trump has said he would fire Smith once he retook the office, shattering previous norms around special counsel investigations. In the election case Trump faced in Washington, DC, Smith charged the former president over his efforts to overturn his 2020 election loss, a plot that culminated in the January 6, 2021, Capitol attack. “The Government’s position on the merits of the defendant’s prosecution has not changed,” Smith said in the filing. In the documents case brought in Florida, Trump was indicted for allegedly taking classified national defense documents from the White House after he left office and resisting the government’s attempts to retrieve the materials.

Persons: Jack Smith, Donald Trump, Trump, Smith, ” Smith, Tanya Chutkan, ”, Chutkan, Steven Cheung, ” “, ” Cheung, Aileen Cannon’s, Walt Nauta, Carlos de Oliveira, “, Stormy Daniels Organizations: CNN, US, White House, Supreme, Capitol, White, Trump, American People, Appeals, US Justice Department, DOJ Locations: Washington ,, Washington , DC, Florida, Trump's, Lago, Georgia, New York, Peach State

☆ Trump’s determination to install controversial picks faces next test
▼ + stars: | 2024-11-25 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

Gabbard and another contentious Trump pick — Pete Hegseth, who has been tapped to lead the Defense Department — came under sharpened scrutiny Sunday as the spotlight shifted from Matt Gaetz, Trump’s toppled choice to be attorney general. Trump’s pick of Hegseth is also facing uncertainty after the release last week of a 2017 police report detailing an alleged sexual assault in California. But the withdrawal of Gaetz — who was already widely disliked in Congress — may leave senators feeling they owe the president-elect on his other highly controversial choices. Trump’s new selection for attorney general, Pam Bondi, is meanwhile being welcomed by many Republicans, suggesting she’ll have an easier path to confirmation than Gaetz. But that would still leave the question of who is acceptable to Trump while being confirmable in the Senate.

Persons: Donald Trump’s, Tulsi Gabbard, Pete Hegseth, Defense Department —, Matt Gaetz, Trump’s, ” Democratic Sen, Tammy Duckworth, Bashar al, Assad, she’s, Republican Sen, Markwayne Mullin, Dana Bash, Duckworth, Gaetz —, Pam Bondi, general’s, ”, Russell Vought, Trump, Tesla, Elon Musk, Vivek Ramaswamy, Scott Bessent, Howard Lutnick, Cantor Fitzgerald, They’ll, Mike Waltz, ” Trump, Vladimir Putin’s, —, he’s, Julian Assange, Edward Snowden, Gabbard, ” Sen, Adam Schiff of California, Gabbard’s, Mullin, “, ” Missouri Sen, Eric Schmitt, Tennessee Sen, Bill Hagerty, she’d, Hagerty, ” Oklahoma’s, James Lankford, Bashar, Lankford, Bondi, We’re, ’ ” Lankford, Christopher Wray, Kash Patel, Patel, Trump’s MAGA, CNN’s Kaitlan Collins, ” Patel Organizations: CNN, Trump, Defense Department, CNN’s, Union, ” Democratic, Republican, Fox News, Justice Department, Management, GOP, Treasury, “ Fox, Florida Republican, Electoral College, Senate, Democratic, US, Transportation, Trump’s “, House Intelligence, Press, Oklahoma Republican, Army, ”, NBC, ABC, “, intel, CNN Bondi, of Justice, FBI, Fox Business, Department of Justice Locations: CNN’s “ State, The Illinois, Washington, California, Florida, Ukraine, Moscow, Russia, Hawaii, Syria, Russian, Duckworth, “ State, Oklahoma and Missouri, ” Missouri, Japan, United States, Lago

☆ ‘DNA Typewriters’ Can Record a Cell’s History
▼ + stars: | 2024-11-25 | by ( Carl Zimmer | ) www.nytimes.com time to read: +1 min

Over time, those lineages of cells grow distinct, giving rise to all the different organs and tissues in the human body and comprising as many as 36 trillion cells. “We really only understand bits and pieces,” said Tanja Stadler, a computational biologist at ETH in Zurich. Dr. Stadler’s lab and others around the world are trying to turn cells into their own historians, as she and her colleagues described in the journal Nature Reviews Genetics on Monday. Their engineered cells can insert distinctive bits of genetic material into their DNA. As the cells divide, those genetic bits turn into distinctive bar codes.

Persons: ”, Alex Schier, “, Tanja Stadler Organizations: University of Basel, ETH Locations: Switzerland, Zurich

☆ 'Fast Money' traders talk the upcoming slate of retail earnings
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Fast Money' traders talk the upcoming slate of retail earningsThe 'Fast Money' talk the recent rally in retail stocks and what to expect from this week's slate of earnings.

☆ Biden White House Holds Up U.S. Contribution to Anti-Doping Agency
▼ + stars: | 2024-11-25 | by ( Michael S. Schmidt | Tariq Panja | ) www.nytimes.com time to read: +1 min

The Biden administration is holding up the annual U.S. payment to the World Anti-Doping Agency to press the organization to make changes in the wake of revelations that it chose not to discipline elite Chinese swimmers who tested positive for a banned drug, according to two people briefed on the matter. The White House has told the agency that it needed to have more accountability and transparency and that it must submit to a wide-ranging outside audit of its operations, which have come under intense scrutiny amid revelations that it took no action against China in a number of cases of suspected doping. Led by Dr. Rahul Gupta, the director of the White House Office of National Drug Control Policy, the administration is also pushing for limits on the ability of the agency, known as WADA, to use American taxpayer dollars to sue U.S. institutions, like American antidoping authorities who were the target of a defamation lawsuit by WADA. WADA, which has long tried to avoid outside oversight, is the global body responsible for policing the use of banned, performance-enhancing drugs at events like the Olympics.

Persons: Biden, Rahul Gupta, WADA Organizations: Doping Agency, White, Office of National Drug Control Locations: China

☆ Starbucks forced to pay its baristas manually because of a ransomware attack on third-party software
▼ + stars: | 2024-11-25 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +2 min

CNN —A ransomware attack has disrupted a third-party software system that Starbucks uses to track and manage its baristas’ schedules, forcing the coffee chain to shift to manual mode to ensure its employees get paid properly, a Starbucks spokesperson said Monday. Starbucks’ store leadership have advised their employees on how to work around the outage manually, and the company will make sure everyone gets paid for all hours worked, according to Starbucks spokesperson Jaci Anderson. Starbucks joins a growing list of companies disrupted by the hack of Blue Yonder, an Arizona-based cloud services provider that serves grocery stores and Fortune 500 firms. The Wall Street Journal first reported that Starbucks was impacted by the Blue Yonder hack. A range of major multinational corporations use Blue Yonder cloud services to manage their supply chains.

Persons: Jaci Anderson, Ford, “ Ford, ”, Ian Thibodeau, CrowdStrike, Cybercriminals, Semperis, Brian Niccol Organizations: CNN, Starbucks, Street Journal, US Locations: Arizona, United Kingdom, United States, France, Germany

☆ The auto industry is pulling back on its ‘capital junkie’ tendencies after unprecedented spending on EVs, self-driving
▼ + stars: | 2024-11-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

It's a "capital junkie" that's been on a yearslong binge of unprecedented spending on all-electric and autonomous vehicles. The April 2015 report highlighted the industry's massive capital spending on overlapping or niche products that Marchionne was convinced could be solved through consolidation and shared capital spending. Most capital spending by automakers isn't wasted, but the industry isn't as efficient as other sectors, with minimal return on invested capital. Stock Chart Icon Stock chart icon Stocks of GM, Ford and Chrysler parent Stellantis in 2024. Courtesy: Business WireGM and Hyundai this summer entered into an agreement to explore "future collaboration across key strategic areas" in an effort to reduce capital spending and increase efficiencies.

Persons: bender, Morgan Stanley, Adam Jonas, It's, Sergio Marchionne, Marchionne, Sergio Marchionne Brendan McDermid, Jonas, Joe Hinrichs, isn't, We've, Rebecca Evans, Roland Berger, Ford, Peter Rawlinson, Andrew Kelly, Oliver Blume, Blume, Paul Jacobson, Jacobson, Rivian, RJ Scaringe, Mary Barra, Euisun Chung, codevelop, Stellantis, —, Carlos Tavares, Oliver Bunic Organizations: General Motors, Ford, Nissan Motor, Volkswagen Group, Chrysler, Companies, Research, GM, Volkswagen, Toyota Motor, Fiat, Rivian, Lucid, Fiat Chrysler, Reuters, Rivian Automotive, Hyundai Motor, Toyota, CSX Corp, Rehab, Nissan, CNBC, Lucid Motors, Nasdaq, Churchill Capital Corp, Reuters Volkswagen, VW, Honda, BMW, SAIC, Barclays, Saudi, Public Investment Fund, Hyundai, Detroit, French, PSA Groupe, Stellantis NV, Bloomberg, Getty Locations: Casa Grande , Arizona, Detroit, Japan, Germany, That's, New York City , New York, Europe, China, U.S, Kragujevac, Serbia

☆ Influencers are using AI 'women' to lead people to OnlyFans and Fanvue — where more AI awaits
▼ + stars: | 2024-11-25 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +4 min

And some people are selling courses for $220 on how to make your own lucrative AI adult creator. The articles said a crop of new Instagram influencers had amassed large followings and even secured brand deals. Some of these AI influencers, like Lil Miquela, are a sort of artsy commentary on the nature of influencing or something conceptually interesting. AdvertisementOne of the most popular AI influencers had a link in her bio to a profile on Fanvue, an OnlyFans competitor. One person is selling a course for $220 on how to make money with AI adult influencers.

Persons: Fanvue, influencers, Lil Miquela, —, Insider's Marta Biino, I'm Organizations: Media Locations: Fanvue

☆ Stock futures inch higher on Monday after Dow closes at another record: Live updates
▼ + stars: | 2024-11-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on Aug. 2, 2024. Stock futures edged higher in overnight trading Monday, after the Dow Jones Industrial Average closed at a new record. Futures tied to the Dow added 30 points, or 0.1%, while S&P 500 futures and Nasdaq 100 futures rose 0.1% and 0.2%, respectively. The 30-stock Dow popped more than 440 points, or about 1%, to a new record close during regular trading. The Russell 2000 hit a new intraday high — its first record since 2021 — as investors piled into small caps.

Persons: Kohl's, Stocks, Donald Trump's, Dow, Russell, Scott Bessent, NewEdge’s Cameron Dawson, CNBC's Organizations: New York Stock Exchange, Dow Jones, Dow, Nasdaq, President, Trump, Key Square, Treasury Locations: U.S

☆ Israeli prime minister approves Lebanon ceasefire deal ‘in principle,’ source says
▼ + stars: | 2024-11-25 | by ( Jeremy Diamond | ) edition.cnn.com time to read: +2 min

CNN —Israeli Prime Minister Benjamin Netanyahu approved the emerging ceasefire deal with Hezbollah “in principle” during a security consultation with Israeli officials Sunday night, a source familiar with the matter said. Israel still has reservations over some details of the agreement, which were expected to be transmitted to the Lebanese government on Monday, the source said. Those and other details are still being negotiated and multiple sources stressed that the agreement will not be final until all issues are resolved. A ceasefire agreement will also need to be approved by the Israeli cabinet, which has not yet occurred. Israel launched a major military offensive in Lebanon in mid-September following months of tit-for-tat border attacks which started on October 8 last year when Hezbollah attacked Israeli controlled territory in solidarity with Hamas and Palestinians in Gaza.

Persons: Benjamin Netanyahu, Amos Hochstein, ”, Najib Mikati, Nabih Berri, Barak Ravid, Hochstein, Israel, “, Mikati, Hassan Nasrallah – Organizations: CNN, Israeli, United, Lebanese, Washington Locations: Israel, United States, Beirut, Lebanon, Gaza

☆ Zoom surpasses expectations as it calls for another quarter of single-digit growth
▼ + stars: | 2024-11-25 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Eric Yuan, founder and CEO of Zoom Video Communications, speaks at Concordia Annual Summit in New York on Sept. 25, 2024. The company reported 192,400 enterprise customers in the quarter, up 800 from the previous quarter. In August, Zoom said it was looking for $5.29 to $5.32 per share and revenue between $4.630 billion and $4.640 billion. During the quarter, Zoom said in the first half of 2025 it will release a premium Custom AI Companion that could connect to corporate glossaries and services such as ServiceNow and Workday . The company also said its corporate name is changing from Zoom Video Communications to Zoom Communications Inc.Executives will discuss the results with analysts on a conference call starting at 5 p.m.

Persons: Eric Yuan, Covid, LSEG, Zoom, Chris Grisanti Organizations: Zoom Video Communications, Concordia, Zoom Communications Inc Locations: New York

☆ NFL Week 12 Sunday review: ‘Best in the league’ running back has historic single-game performance, dramatic finish in Washington
▼ + stars: | 2024-11-25 | by ( Ben Morse | ) edition.cnn.com time to read: +10 min

255 rushing yards in a game is also the ninth-most ever recorded in a single game by one player. The 27-year-old had 73 yards in the first half before exploding for a 70-yard touchdown on the second half’s first play. “My whole mantra this offseason and this season: how consistent I can be day-to-day,” he said after the game. “Whether I rush for 250 yards or I rush for 50 yards, still come in on Monday and do the same thing. Daniels did continue his historic first NFL season as he joined Washington’s quarterback, Marcus Mariota, as the only rookie quarterbacks ever with at least 250 passing yards, 70 rushing yards, two touchdown passes and a rushing touchdown in a game.

Persons: Saquon Barkley, Barkley, Derrick Henry, Los Angeles Chargers –, “, Jalen, ”, Jared Verse, he’d “, ” Barkley, Ronald Martinez, Kyren Williams, Barkley’s, Matthew Stafford, DeMarcus Robinson, Cooper Kupp, Luke Schoonmaker, Zach Ertz, KaVontae Turpin, KaVontae Turpin's, Timothy Nwachukwu, ” Turpin, Austin Seibert, Jayden Daniels, Mary, Daniels, Terry McLaurin, McLaurin, Seibert, Juanyeh Thomas, Mike McCarthy, Marcus Mariota, Patrick Mahomes, Mahomes, Noah Gray, DeAndre Hopkins –, Bryce Young’s, Chuba Hubbard, Spencer Shrader, Harrison Butker –, Grant Halverson, I’ve, you’ve, Russell Wilson, Travis Kelce, Antonio Gates, Tony Gonzalez, Jason Witten Organizations: CNN, Philadelphia Eagles, Sunday, Football, Los Angles Rams, New York Giants, Philadelphia, Eagles, Baltimore Ravens, Los Angeles Chargers, ” Eagles, ” Rams, Rams, NFC, Washington Commanders, Dallas Cowboys, Cowboys, Northwest, Washington, Chicago Bears, Dallas, ” Dallas, Washington’s, Chiefs, Kansas City Chiefs, Carolina Panthers, Panthers, Carolina Panthers Minnesota Vikings, Chicago Bears Tennessee Titans, Houston Texans Detroit Lions, Indianapolis Colts New England Patriots, Miami Dolphins Tampa Bay Buccaneers, New York Giants Dallas Cowboys, Denver Broncos, Las Vegas Raiders San Francisco 49ers, Green Bay Packers Arizona Cardinals, Seattle Seahawks Philadelphia Eagles, Los Angeles Rams Locations: Los Angeles, Landover , Maryland, Dallas, Washington, Carolina, Young

☆ Astronauts had to shut down a Russian space station module due to ‘unusual odor’
▼ + stars: | 2024-11-25 | by ( Jackie Wattles | ) edition.cnn.com time to read: +4 min

The odor — along with “droplets” the cosmonauts, or Russian astronauts, said they observed — likely resulted from “outgassing from materials inside the (Russian) Progress spacecraft,” NASA said in a statement to CNN Monday afternoon. “For any detailed information on what caused the unusual odor, please contact (Russian space agency) Roscosmos,” Humphries said. Continuing saga on the ISSNASA said in its Sunday statement that, after the Russian cosmonauts noticed the odor, they shut down the hatch that connects the 16-foot-long and 8.4-foot-wide Poisk module to the rest of the space station. The space station has hosted rotating crews of cosmonauts and astronauts — hailing from more than 20 countries — since the year 2000 in separate but connected Russian and US sections. In addition to Roscosmos, those partners include the Canadian Space Agency, European Space Agency and Japan Aerospace Exploration Agency.

Persons: “, Kelly O, Humphries, NASA’s, ” Humphries, Roscosmos Organizations: CNN, Space, NASA, Space Center, ISS, ISS NASA, Russian, Baikonur, Canadian Space Agency, European Space Agency, Japan Aerospace Exploration Agency, NASA’s Locations: Houston, Kazakhstan, Russian, Zvezda

☆ In the near-term, Bitcoin will not see the volatility of the past years: Fred Thiel
▼ + stars: | 2024-11-25 | 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 EmailIn the near-term, Bitcoin will not see the volatility of the past years: Fred ThielFred Thiel of Mara says that the days of Bitcoin experiencing "20 to 30% drawdowns" after hitting peaks are gone due to strong institutional demand, and that for the foreseeable future, the price should trend upwards.

Persons: Fred Thiel Fred Thiel, Mara

☆ Vaping immediately affects vascular health and oxygen levels, study shows, even without nicotine
▼ + stars: | 2024-11-25 | by ( Jen Christensen | ) edition.cnn.com time to read: +6 min

CNN —Vaping has an immediate effect on how well the user’s blood vessels work, even if the e-cigarette doesn’t contain nicotine, according to new research. But scientists say these results may mean that vaping regularly could lead to vascular disease down the road. “Even if there was no nicotine in the e-cigarette, there could be other components that may be harmful,” Nabbout said. Compared with the nonsmokers and cigarette smokers, the people who used vapes with nicotine had the most significant reduction in vascular function. If vaping is significantly affecting someone’s vascular health, e-cigarette users could then see increased heart attacks, strokes or blood flow issues, Rizzo said.

Persons: CNN — Vaping, Chicago –, ”, Marianne Nabbout, ” Nabbout, Nabbout, Albert Rizzo, Rizzo, Dr, Sanjay Gupta, “, ” Rizzo Organizations: CNN, Radiological Society of North, University of Arkansas, Medical Sciences, University of Pennsylvania, US Food and Drug Administration, FDA, American Lung Association, CNN Health, Research, Lung Association Locations: Radiological Society of North America, Chicago, Little Rock, United States

☆ Saquon Barkley’s career night propels Eagles past Rams: Key takeaways
▼ + stars: | 2024-11-25 | by ( The Athletic Nfl Staff | ) www.nytimes.com time to read: +7 min

SAQUON BARKLEY IS UNREAL 💥 This run gives him 255 rushing yards, surpassing his previous single-game rushing high of 189 yards. Barkley’s 70-yard touchdown run on the first play of the second half gave the Eagles a two-score lead the Rams never overcame. His 72-yard touchdown run set the final score. @saquon | #FlyEaglesFly pic.twitter.com/0h0Whzyn49 — Philadelphia Eagles (@Eagles) November 25, 2024Too many mistakes, too much BarkleyIt’s tough for a team to climb out of a hole of its own making, and the Rams dug themselves deep on Sunday night. pic.twitter.com/aJHYbotT2J — Philadelphia Eagles (@Eagles) November 25, 2024Philadelphia’s success is overpowering mistakesSirianni is managing one of the hottest teams in the NFL.

Persons: Jourdan Rodrigue, Brooks Kubena, Zach Powell, Saquon Barkley, Barkley, SAQUON BARKLEY Organizations: Zach Powell Philadelphia Eagles, Los Angeles Rams, Rams, Sunday, Los Angeles, Eagles, OU Locations: Philadelphia, Los, 8 y

☆ Macy's delays earnings to complete investigation into a worker hiding over $130 million in expenses
▼ + stars: | 2024-11-25 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +1 min

AdvertisementMacy's has delayed Q3 earnings as it investigates over $130 million in hidden expenses. Macy's said a single employee was responsible for "erroneous accounting accrual entries." The employee is no longer working at Macy's, the company said. Macy's just delayed its third-quarter earnings, saying it is undertaking a forensic investigation into a single employee's concealment of more than $130 million in expenses. The individual who engaged in this conduct is no longer employed by the company," the company said.

Persons: Macy's, —, Tony Spring Organizations: Business Locations: Macy's

☆ Trump ups the ante on tariffs, vowing massive taxes on goods from Mexico, Canada and China on Day 1
▼ + stars: | 2024-11-25 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

CNN —President-elect Donald Trump on Monday promised massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his administration. What America importsThe United States’ top import from Canada is oil, which reached a record 4.3 million barrels per day in July, according to the US Energy Information Administration. The United States imports a significant amount of electronics from China, in addition to machinery, toys, games, sports equipment, furniture and plastics. The Trump tariffs also hit foreign steel, aluminum, washing machines and solar panels. He did just that when he was last in the White House, placing large tariffs on goods, primarily from China.

Persons: Donald Trump, Trump, ” Trump, “, ”, Liu Pengyu, ” Liu, Dow, Karl Schamotta, United Nations ’, It’s, Scott Bessent, Bessent’s, Trump’s, CNN’s Matt Egan, Jack Forrest Organizations: CNN, United, Embassy, United States, Canadian, Nasdaq, Treasury, America, US Energy Information Administration, United Nations, Commerce Department, Peterson Institute for International Economics, Senate, Commerce, US Trade Representative Locations: Mexico, Canada, China, “, United States, United, America

And comparable sales rose at both Bloomingdale’s and Bluemercury, the company’s luxury brands. Those results are early signs that Macy’s latest strategy of investing in these parts of the business may be working. Macy’s said it had found the accounting error while preparing its results for the quarter, which ended Nov. 2. An investigation was opened and the employee was no longer with the company, Macy’s said. In the same time period of the accounting issue in which the employee hid up to $154 million, the retailer said it had recorded about $4.36 billion of delivery expenses.

Persons: Macy’s Organizations: Target, National Retail Federation

☆ Can Wall Street Billionaires Deliver on Trump’s Blue-Collar Promise?
▼ + stars: | 2024-11-25 | by ( Alan Rappeport | Ana Swanson | ) www.nytimes.com time to read: +1 min

When Donald J. Trump first ran for the White House in 2016, his closing campaign advertisement lamented the influence of Wall Street in Washington, flashing ominous images of big banks and the billionaire liberal philanthropist George Soros. Now, as president-elect, Mr. Trump has tapped two denizens of Wall Street to run his economic agenda. Mr. Trump’s choices to lead his economic team show the prominence of billionaire investors in setting an agenda that is supposed to fuel a “blue-collar boom” but that skeptics think will mostly benefit the rich. As Mr. Trump prepares to assume the presidency in January, business owners and investors are closely attuned to which of his economic promises he will ultimately follow through on. The selections of Mr. Bessent and Mr. Lutnick cement a hold by Wall Street executives over the two most important economic posts in any administration.

Persons: Donald J, Trump, George Soros, Scott Bessent, Soros, Howard Lutnick, Cantor Fitzgerald, Bessent Organizations: White House, Commerce Department, Mr, Wall Street Locations: Washington, China

☆ Mitch McConnell Is Ready to Pick His Own Fights After Senate Leadership
▼ + stars: | 2024-11-25 | by ( Catie Edmondson | ) www.nytimes.com time to read: +1 min

The last time President Donald J. Trump was in the White House, Senator Mitch McConnell, the Kentucky Republican who was then the majority leader, played a crucial role in empowering him and pushing through his agenda. But Mr. McConnell, the longest-serving Senate leader, is stepping down from that post in January. This time he appears to be positioning himself to do the opposite, choosing to focus on issues that could put him at odds with Mr. Trump on policy and personnel at the dawn of his second term. In recent days, including during a late-night session of votes on the Senate floor last week, Mr. McConnell, 82, has told colleagues that his impending exit from leadership has left him feeling “liberated.”He has signaled skepticism about some of the president-elect’s most divisive picks for his administration, staying mum on their selections and saying last week that the withdrawal of former Representative Matt Gaetz from consideration as attorney general was “appropriate.” And Mr. McConnell has telegraphed that as he moves to cement his legacy in his remaining time in the Senate, he plans to prioritize two issues that just happen to be subjects on which he disagrees strongly with Mr. Trump.

Persons: Donald J, Trump, Mitch McConnell, McConnell, “, Matt Gaetz Organizations: Kentucky Republican, Senate

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