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Despite all the good news, there’s one giant, inescapable reason why people don’t feel like the economy is as good as it actually is. Shelter costs — which include rent and an estimated cost of homeownership — were up 5.4% from a year ago. There are some early signs that the housing market is becoming a bit less stuck. At the same time, the one-two punch of inflation and high borrowing costs have discouraged first-time buyers, reducing competition for houses. Of course, as Powell noted in his speech Wednesday, it may take “years” for housing inflation to normalize.
Persons: CNN Business ’, We’re, supercore, doesn’t, , , , Jay Parsons, Jerome Powell, It’s, Orphe Divounguy, Zillow, ” Divounguy, Powell, There’s, Douglas Duncan, Fannie Mae Organizations: CNN Business, New York CNN, Locations: New York, Madera, Texas
Starbucks didn't sell its own coffee early on"When Starbucks opened in Pike Place Market in 1971, they were using Peet's Coffee. Howard Shultz is going to acquire Starbucks Coffee Company, and he's never going to hear from you again." Together the trio made the "huge decision" to sell Starbucks coffee in Costco, which sparked a "revolt inside the halls of Starbucks," Schultz said. Related storiesThe former Starbucks CEO faced similar blowback when he agreed to let United Airlines serve his company's coffee. "We're not a beverage company serving coffee, we are a coffee company serving people.
Persons: , Howard Schultz, Schultz, Bill Gates, Steve Jobs, Costco's, Bernard Arnault, Lavazza, I've, Samuel Stroum, it's, Howard Shultz, he's, Brian Ach, latte, Jeff Brotman, Jim Sinegal, they've, Coke, Pepsi, Steve, Justin Sullivan, Blackstone, Alexandre, Louis Vuitton, Alexandre Arnault, Donato Sardella, Louis Organizations: Service, Starbucks, Business, Pepsi, Microsoft, Starbucks Coffee Company, Costco, United Airlines, Starbucks Facebook, Staff, Getty, Tiffany's, Louis Vuitton Locations: Coke, Pike, San Francisco, Seattle, Chicago, America, Costco, Atlanta, New York, Apple's, California, Mobile, Italy, Milan
A shocking upset unfolded in the 156th running of the Belmont Stakes as Dornoch, a horse with 17-1 odds to win entering the race, took the top spot in Saratoga on Saturday. A HUGE underdog for the win 🔥 Dornoch wins the 2024 Belmont Stakes at 17-1! Dornoch’s win makes 2024 the sixth straight year in which a different horse won each of the Triple Crown races. AdvertisementThe win in Saratoga was jockey Luis Saez’s second in the Belmont Stakes, as he also took first place with Essential Quality in 2021 at Belmont Park. It’s the biggest game, you’ve got the Derby, the Preakness, the Belmont, we just won the Belmont,” Werth said.
Organizations: Kentucky Derby Locations: Saratoga, Sierra Leone
Investors should buy dips in bonds and sell stocks after the Fed's first interest rate cut, according to Bank of America. The call from Bank of America investment strategist Michael Hartnett is a reversal of his "anything but bonds trade." The Federal Reserve is expected to cut interest rates in the second half of the year. AdvertisementBank of America investment strategist Michael Hartnett is shaking up his trading playbook for the second half of the year. In a note on Friday, Hartnett recommended investors buy dips in bonds and sell stocks after the Federal Reserve makes its first interest rate cut.
Persons: Michael Hartnett, , Hartnett Organizations: Bank of America, Federal, Service, Federal Reserve, ABB, UST, PMI, Fed
Semaglutide, the compound in the blockbuster drugs Ozempic and Wegovy, dramatically reduced the risk of kidney complications, heart issues and death in people with Type 2 diabetes and chronic kidney disease in a major clinical trial, the results of which were published on Friday. The findings could transform how doctors treat some of the sickest patients with chronic kidney disease, which affects more than one in seven adults in the United States but has no cure. The trial, funded by Ozempic maker Novo Nordisk, was so successful that the company stopped it early. Dr. Martin Holst Lange, Novo Nordisk’s executive vice president of development, said that the company would ask the Food and Drug Administration to update Ozempic’s label to say it can also be used to reduce the progression of chronic kidney disease or complications in people with Type 2 diabetes. Diabetes is a leading cause of chronic kidney disease, which occurs when the kidneys don’t function as well as they should.
Persons: Ozempic, , Katherine Tuttle, Martin Holst Lange, Novo, Subramaniam Pennathur Organizations: University of Washington School of Medicine, Renal Association, The New England, of Medicine, Novo Nordisk, and Drug Administration, Diabetes, Michigan Medicine Locations: United States, Stockholm, The
British Prime Minister Rishi Sunak makes a statement in the rain outside 10 Downing Street, announcing the UK general election will take place on 4 July in London, United Kingdom on May 22, 2024. News of the vote came as a surprise to the public, the media and much of Sunak's own party. 'As good as it gets'Bronwen Maddox, director of Chatham House think tank, said the election date had shocked many Conservatives who thought it would be held nearer to the U.S. election in November. Market bets on an interest rate cut in the summer fell as a result, and it now looks unlikely the central bank will cut on June 20, its last meeting before the election. So if that translates to a general election as well, then that Labour landslide is looking much less certain."
Persons: Rishi Sunak, Sunak, Price, Bronwen Maddox, I'm, Maddox, Rachel Reeves, Sir Keir Starmer, Angela Rayner, Leon Neal, James, Hannah Bunting, CNBC's, Tony Blair, John Major, Bunting, we've Organizations: British, Anadolu, Getty, Conservative Party, Conservatives, Labour Party, Downing, Bank of England, Chatham House, CNBC, Bank of England's, Labour, Centre, University of Exeter Locations: London, United Kingdom, U.K, Europe, Gaza, Rwanda, Purfleet
There were no women flying, there were no female airline pilots. A historic moment, kept secretRippelmeyer and Captain Emilie Jones before a flight with Air Illinois, where they became the first all-female crew of a scheduled flight in the United States. So that’s what we did.”It was December 30, 1977, and that was the first scheduled flight in the United States with an all-female crew – but it was kept a secret. At least, “since nobody died,” Lippenmeyer says, the two were no longer intentionally kept apart and flew together many more times. “My first 747 flight was to London and then my last 787 flight was to London,” she says.
Persons: CNN — Lynn Rippelmeyer’s, , , Rippelmeyer, Bonnie Tiburzi, Emily Warner, Frontier –, Emilie Jones, Lynn Rippelmeyer Rippelmeyer’s, — Emilie, ” Rippelmeyer, ” Lippenmeyer, Lynn Rippelmeyer, Ozark Air Lines —, Carl Hirschberg, we’d, that’s, doesn’t, ” “, I’m, furloughed, wasn’t, didn’t, ” – Organizations: CNN, TWA, Boeing, Piper, American Airlines, Frontier, Air Illinois, Air, Airlines, Ozark Air Lines, World Airlines, TWA –, People Express, People, London Gatwick, Continental, Central America, United Airlines, Continental Airlines, Aviation Locations: Mississippi, Vermont, United States, Miami, Air Illinois, Air, JFK, , Newark, London, Polynesia, California, Texas, Houston, Tegucigalpa, Honduras, Central
In APAC alone, there was a surge in deepfakes by 1530% from 2022 to 2023, according to a Sumsub report. But one top expert is going against the grain, suggesting instead that the threat deep fakes pose to democracy may be "overblown." However, new generative AI tools do "threaten to make the generation of fake content easier," he added. In any case, it is unlikely that the generation of content is limiting attackers," Lee said. Experts have previously told CNBC that they expect AI-generated disinformation to be a key risk in upcoming elections around the world.
Persons: Martin Lee, Lee Organizations: Cisco's, CNBC Locations: deepfakes
For the 27th straight year, some of the brightest minds from across the business world descended on Beverly Hills in early May to attend the Milken Institute Global Conference. But while speculation stole headlines, Milken speakers spent much of their time fixated on the state of the US economy. But despite continued concerns about stagflation, Milken speakers overwhelmingly expressed confidence about economic growth at a May 6 session called "Global Markets at Inflection." "The economy is still extremely strong, consumers are still doing really well, businesses are still doing really well," Scharf said. Though far from perfect, the US is still the best place to investDespite the $34.7 trillion anvil hanging over the economy, Milken speakers widely agreed that the US is still the best place to invest and operate a company.
Persons: Elon Musk, he's, Milken, Wells, Franklin Templeton, Gerard Baker, Andre Esteves, Jenny Johnson, Charlie Scharf, Scharf, we've, it's, you've, hasn't, Sam, Joshua Friedman, Anne Walsh, Friedman, Esteves, they've, Johnson, " Scharf, Wells Fargo Organizations: Milken Institute Global, SpaceX, Business, Milken, The, Consumers, Starbucks, Canyon Partners, Investors, Guggenheim Investments, Milken Institute Global Conference, US Locations: Beverly Hills, Wells Fargo, Brazil, McDonald's, Washington
CNN —Two NASA astronauts have reached the final hours before a long-awaited launch attempt aboard Boeing’s Starliner capsule, marking the first crewed mission of the brand-new spacecraft. This mission, dubbed the Crew Flight Test, could be the final major milestone before NASA deems Boeing’s spacecraft ready for routine operations as part of the federal agency’s Commercial Crew Program. NASA astronauts Suni Williams (left) Butch Wilmore pose after they arrived at the Kennedy Space Center on April 25, in Cape Canaveral, Florida, ahead of the Boeing Starliner Crew Flight Test. The two will then return home aboard the same Starliner capsule, which is expected to parachute to a landing at one of several designated locations across the southwestern United States. SpaceX ultimately beat Boeing to the launchpad, carrying out its crewed flight test of the Crew Dragon capsule in May 2020.
Persons: SpaceX’s, Suni Williams, Butch Wilmore, Terry Renna, Bill Nelson, , Butch, Suni, Williams, Starliner, , Mark Nappi, ” Nappi Organizations: CNN, NASA, Cape Canaveral Space Force, International Space, Russian Soyuz, Kennedy Space Center, Boeing, Atlas, SpaceX, International Locations: Florida, United States, Russian, Cape Canaveral , Florida, Starliner
Restaurants are competing for frugal diners’ dollars
  + stars: | 2024-05-03 | by ( Krystal Hur | ) edition.cnn.com   time to read: +6 min
For some restaurants, it feels like a battle to get them to spend. Olive Garden-parent Darden Restaurants saw same-restaurant sales dip during its most recent quarter. Darden saw sales from households with incomes above $150,000 climb from the prior year. What to expect in Friday’s jobs reportThe US job market has been on a roll for the past three years. That’s about 25,000 more jobs per month than last year and 111,000 more per month than in 2019.
Persons: , Laxman Narasimhan, , we’ve, Ian Borden, Ricardo Cardenas, Scott Sheffield, “ Mr, , Matt Egan, Read, Alicia Wallace, ” Julia Pollak, ZipRecruiter Organizations: CNN Business, Bell, New York CNN, Starbucks, Darden, OPEC, Federal Trade Commission, Sheffield, Organization of, Petroleum, Saudi Arabia, Regulators, Pioneer Natural Resources, CNN, of Labor Statistics Locations: New York, China, Olive, American, Saudi, Sheffield, Texas, OPEC, Russia
Myanmar’s Aung San Suu Kyi moved to house arrest
  + stars: | 2024-04-16 | by ( Story Reuters | ) edition.cnn.com   time to read: +2 min
Myanmar’s detained former leader and Nobel laureate Aung San Suu Kyi has been moved from prison to house arrest, a spokesperson for the military government told media. It was not immediately clear where Suu Kyi had been moved to. Suu Kyi has been detained by the Myanmar military since it overthrew her government in a 2021 coup. A spokesperson for the NUG shadow government called for the unconditional release of Suu Kyi and U Win Myint, Myanmar’s ousted president, who has also been moved to house arrest according to the media reports. They must take full responsibility for the health and security of Aung San Suu Kyi and U Win Myint,” spokesperson Kyaw Zaw told Reuters late on Tuesday.
Persons: Myanmar’s, Nobel, Aung, Suu Kyi, Zaw Min Tun, Min Tun, Kim Aris, Kyaw Zaw Organizations: Aung, Reuters Locations: heatstroke, Zaw, Myanmar
So last October, at the age of 80, Murray ended her retirement and got a job giving out samples at Costco. Forecasters expect that cohort of older , working Americans to double over the next decade. “More people are working at desk jobs that don’t require much physical labor,” said Gal Wettstein, a senior research economist at the Center for Retirement Research at Boston College. “That’s people who are changing jobs, younger workers and non-college educated workers.” Older workers tend not to change jobs, and they’re more likely to have a college degree. The Age Discrimination in Employment Act (ADEA) forbids age discrimination against people who are age 40 or older in the workplace.
Persons: Hope Murray, , Murray, she’ll, , Murray isn’t, Gal Wettstein, Monique Morrissey, ” Morrissey, What’s, Heidi Brockway, Brockway, Morrissey, ageism, Bob Vaughn, Wettstein, Vaughn, Mary Susan, they’ve, Mary Susan’s, they’d, They’re, Diane Reiter, ” Reiter, she’s, I’d, She’s Organizations: New, New York CNN, Gas, Costco, , Pew Research Center, Center for Retirement Research, Boston College, Economic Policy Institute, Social, Social Security Agency, Social Security, Lawmakers, AARP, Retirement Research, Amazon, Economic, Worker, Brookings Locations: New York, Hollywood, San Diego, Los Angeles, Southeast Florida, Florida, United States, Charlotte , North Carolina, Asheville, Chicago
CNBC's Jim Cramer reviewed last week's nonfarm payroll report and highlighted the thriving economy, telling investors not to expect imminent rate cuts from the Federal Reserve. Cramer also commented on what this report means for the state of the consumer, something always top of mind on Wall Street, as employment impacts consumer spending, he asserted. The report showed job growth in the leisure and hospitality industry, returning to pre-pandemic levels in February 2020. To Cramer, this means investors can worry less about a cash-strapped consumer, saying the data further indicates a roaring economy. "We have a robust economy, so I'm a lot less worried about this upcoming earnings season," Cramer said.
Persons: CNBC's Jim Cramer, Cramer, it's, payrolls, Dow Jones Organizations: Federal Reserve, Dow
The Republican Main Street Partnership, a group that supports center-leaning House Republicans, plans to direct half a million dollars into a bid to defeat Representative Bob Good, a hard-right lawmaker from Virginia, making an unusual push to oust a sitting Republican member of Congress. The move is notable not just because the group, through its campaign giving arm, is inserting itself into the kind of intramural fight against an incumbent that it typically avoids. Its Capitol Hill headquarters serve as something of a counterweight to the Conservative Partnership Institute, which operates nearby as the nerve center of the right. But as the Republican Party has veered toward the extreme right, purging itself of what was once a sizable and influential bloc of centrists, the Main Street Partnership has also shed the “moderate” label and changed the nature of its mission. The group has recently expanded its membership to include far more conservatives, and has begun focusing less on centrism and bipartisanship and more on ridding Congress of G.O.P.
Persons: Bob Good, — John J, McGuire, Donald J, Trump, Organizations: Republican Main Street, House Republicans, Republican, Navy SEALs, Main, Capitol, Conservative Partnership Institute, Republican Party, centrists Locations: Virginia, G.O.P
If you've ever dreamed of giving up the grind and retiring in Italy, apparently it's as good as it sounds. On the agenda today:This story is available exclusively to Business Insider subscribers. In fact, this is a topic my colleagues at Business Insider cover extensively all year long. But understanding and improving your VO2 Max, a measure of how much oxygen you use during exercise, could be the key to unlocking a longer life. AdvertisementA higher VO2 max can give you a better chance at a longer life.
Persons: , we've, Alyssa Powell, They're, Christopher Malcolm, Getty, Klaus Vedfelt, Abanti Chowdhury, Max, Marc Piasecki, Tyler Le, Stellan, Skarsgård, Baron Vladimir Harkonnen, Jia Feng, Devin Shaffer, Neiman Marcus, Le, Napoleon, Ridley, Joaquin Phoenix, Joi, Marie McKenzie, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan Organizations: Service, Business, Getty, Universal, Miramax, Warner Bros, BI, Netflix, Apple TV, Apple, Hulu, Paramount Locations: Italy, Texas, Tuscany, America, United States, New York
CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Looking at Intuitive Machines ' Odysseus spacecraft, you may have noticed any one of four fairly visible images: The American flag, NASA logo, Intuitive Machines logo … and a Columbia Sportswear logo. Of course, Columbia wasn't just involved to keep a moon lander comfortable with its jacket liner. "A technology that's good enough to get a lunar spacecraft to the moon, that you can wear in your everyday life? Pioneers in space – I would have never attached that to our company, say, 5 years ago," Boyle added.
Persons: CNBC's Michael Sheetz, Joe Boyle, We've, Boyle, Columbia wasn't Organizations: Columbia, NASA Locations: Columbia
Here's our Club Mailbag email investingclubmailbag@cnbc.com — so you send your questions directly to Jim Cramer and his team of analysts. But I'm unclear on how to formulate an exit and re-entry strategy, so I just let the shares run and I feel like a hog running towards slaughter! The answer may be that the stock has run too far, too fast. So, the number one question is whether or not you think the stock is set to go higher. But I'm unclear on how to formulate an exit and re-entry strategy, so I just let the shares run and I feel like a hog running towards slaughter!
Persons: Jim Cramer, you've, That's, Wells Fargo, Emerson, it's, we've, Jim Organizations: Nvidia, Currency, Oracle, Coterra Energy, DuPont, CNBC Locations: China
LOS ANGELES (AP) — Although Vince Staples has been in the limelight for more than a decade, he still thinks fame is a weird thing. That’s what propelled the 30-year-old to make his first foray into filmmaking with “The Vince Staples Show,” a kind of autobiographical, genre-bending, dark comedy series, hitting Netflix on Thursday. As you get older, you learn about David Lynch, you learn about the Coen brothers, you learn about Roy Anderson. But I feel like, based on what you’re saying, I 100% agree that I’m a person who — I try things. So as you get older and you have this opportunity, I have a “Why not?” approach to the way that I view things.
Persons: Vince Staples, isn’t, he’s, you’ve, Oz, I’ve, David Lynch, Coen, Roy Anderson, Donnie Darko ”, it’s, who’s, , it’ll, You've, art.I, you’re Organizations: ANGELES, Netflix, Associated Press, STAPLES Locations: Southern California, it’s
Rockaa | E+ | Getty ImagesDespite earning more, many Gen Z adults and millennials are having a hard time finding room in their budgets to invest. In fact, 61% are not saving for retirement each month. The survey polled 1,013 people ages 18 to 34 in the U.S. in late January. A prime culprit: higher expenses that have limited their ability to put money aside for savings and investments. "They're cutting costs, they're tipping less, they're trying to spend less eating out … living with parents … they're not acting like the economy is as good as it is," Beschloss said.
Persons: Cyrus Beschloss, … they're, Beschloss Organizations: CNBC, Generation Locations: USA, U.S, It's
I left Austin because it was getting too darn hot, and the political climate became unbearable. At this point in my life, it's 99.9% better for me than the United States. I moved to Canada, and I'm not looking backMy husband and I moved to British Columbia two years ago. AdvertisementI love it here — but Canada isn't perfectIt turns out Canada is a little better than the United States on climate, safety, and politics. Courtesy of Linda OfsheDespite my medical concerns, I'm happier in Canada than I was in the United States.
Persons: Linda Ofshe, , Port Angeles , Washington —, I'm, Ofshe, Ann Richards, COVID, Juan de Fuca, I've Organizations: Service, Canada —, University of Texas, Peace Locations: Washington, Canada, United States, Victoria, Port Angeles , Washington, Austin, New York, Houston —, Texas, New York City, Houston, Port Angeles, British Columbia, Juan, Pemberton, States
After eight years of living between New York City and Toronto, I find the quality of living is better in Canada. And yet, as a Canadian, I still prefer living in the US — particularly New York City — over my home country. I think Americans are friendlier than CanadiansThe stereotype is that Canadians are nice, and I think that does hold true. In my experience traveling across the US and meeting Americans abroad, Americans are often chattier than Canadians. Americans love pop culture, and so do II think pop culture is way more exciting in the US than in Canada.
Persons: doesn't, Ryan Gosling, Matthew Perry, Karwai Tang, There's, I've, it's, Jennifer Ortakales Dawkins, Organizations: Apple TV, Netflix, Farm, Foods, Costco, Aldi, Target, Nordstrom Locations: New York City, Toronto, Canada, Peacock, bodega
1 shot a 6-under 65 on Thursday to share the first-round lead with Nelly Korda at the LPGA Drive on Championship. “Yeah, you are obviously coming in with good momentum, and it’s nice that we’re going from Florida to Florida. “So it’s nice that we can play a couple weeks and it’s a drive for me, because I live in Orlando. 1 who went winless on the LPGA Tour last year — a campaign that was interrupted by a back injury. Her second shot into the par-5 eighth hole was as good as it gets.
Persons: Lydia Ko, Nelly Korda, Nanna Koerstz Madsen, Ruoning Yin, Sei Young Kim, It’s, ” Ko, Korda, Korda birdied, Gosh, Organizations: BRADENTON, LPGA, Lake Nona, Bradenton Country Club Locations: Fla, Lake, Korea, Gulf, Florida, Houston, Orlando
Hollywood stakeholders and analysts alike have declared Netflix the winner of the streaming wars — but the celebration may be short-lived as streaming enters a new phase. Analysts can't say for sure how much more subscriber growth Netflix can add through its cheaper ad tier and password-sharing crackdown, though. Plus, Netflix is about to face big competition for ad dollars from Amazon, which will launch ads on Prime Video starting January 29. Also, Big Tech's ability to fund their streaming services indefinitely could keep subscription prices depressed for Netflix, along with everyone else, Bernstein noted. But now that the strikes are over, some analysts predict Netflix will face a bigger content bill going forward.
Persons: Scott Stuber, Forrester, Mike Proulx, Brian Wieser, Evercore, Peacock, Oscar, Ted Sarandos, Netflix isn't, Gen, Bernstein, Jason Bazinet Organizations: Netflix, Business, Disney, Macquarie Research, Paramount, Citigroup Locations: Canada, North America
While there are some exceptions of course, for me and for so many others, it usually comes down to worthiness. We're not simply "too stupid" to miss red flags, and we don't secretly hate ourselves or love people treating us like replaceable human garbage. And, "Who are we to judge someone else's characteristics just because they don't align with what we're looking for? Maybe if I did all of these things, then I would finally be ready for — and worthy of — love. AdvertisementExcerpted from "You're Not the Only One F*cking Up: Breaking the Endless Cycle of Dating Mistakes" by Lane Moore.
Persons: It's, We're, Gwyneth Paltrow, I'm, , Lane Moore Organizations: Everand
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