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CNN —In recent years, the giants of European horology have been locked in a heated battle to design the world’s thinnest mechanical watch. The stainless steel watch presented by Konstantin Chaykin in Geneva last week is the second prototype of his ThinKing model. Konstantin Chaykin has applied for patents for his utra-thin winding barrel, double balance wheel and strap design. He welcomed outside assessment, telling CNN that during the five-day Geneva Watch Days fair “hundreds of people” were able to inspect his creation. He was inspired to make one after being challenged by a client to design an ultra-thin watch of his own.
Persons: Piaget, Richard Mille, Mark, Konstantin Chaykin, Chaykin, Konstantin, Indépendants, Bulgari, ” James Stacey, Konstantin haykin Chaykin, , , tinker, С . Organizations: CNN, Records, Visitors Locations: European, Russian, Moscow, Geneva, Switzerland, Swiss
London CNN —Foreign automakers have dominated China’s car market for decades, selling millions of vehicles and raking in enormous profits. Ford (F) and General Motors (GM) are also among firms seeing sales and market share vanish in China as local consumers spurn overseas brands to buy Chinese instead. The American automaker’s sales in China have halved from a peak of above 4 million in 2017 to 2.1 million last year. Last year, BYD sold a record 3.02 million vehicles globally, including plug-in hybrids, up 62% from 2022. Months later, Stellantis (STLA), which makes Citroen, Fiat, and Peugeot cars, bought a 20% stake in Chinese EV maker Leapmotor for about €1.5 billion ($1.7 billion).
Persons: Arno Antlitz, GM’s, Mary Barra, , Michael Dunne, Dunne, Xi Jinping’s, Tesla, Yilei Sun, Reuters Tesla, Li, Tu Le, Le, BYD, ” Dunne, Raul Bravo, Stellantis, Organizations: London CNN — Foreign, Volkswagen, Wolfsburg, Toyota, General Motors, China Passenger Car Association, Foreign, Japan’s Mitsubishi Motors, Honda, Hyundai, Ford, GM, EV, Tesla, Yilei, Reuters, International Energy Agency, , CNN, Visitors, Automotive, Xinhua, Shutterstock, Auto, “ Global, UBS, Port, Citroen, Fiat, Peugeot, Leapmotor, Hedin Locations: China, London, Germany, Europe, American, Shanghai, Tesla's Shanghai, Beijing, EVs, Japan, North America, San Antonio, Chile, Chilean, AFP, Xpeng, Thailand, Hungary
Dow falls by more than 600 points as September turns ugly
  + stars: | 2024-09-03 | by ( Lucy Bayly | ) edition.cnn.com   time to read: +3 min
New York CNN —Wall Street kicked off the month of September with a bust, after a disappointing economic report dragged down the Dow by 626 points, or 1.5%, Tuesday afternoon. Traders were already jittery ahead of a big month of economic news, from Friday’s key jobs report to next week’s inflation readings and then the long-awaited rate cut from the Fed mid-month. Investors were reacting to a weaker-than-expected jobs report that underscored fears that the Fed had mishandled inflation and pushed the economy right into a recession. Friday’s jobs report is arguably the most important piece of economic data that central bank officials will have to parse before their monetary policy meeting on September 17-18. International benchmark Brent fell to $73.70 a barrel and US benchmark West Texas Intermediate closed at just above $70 a barrel.
Persons: , Mark Hamrick, Brent Organizations: New, New York CNN, Wall, Dow, Institute for Supply Management, Federal Reserve, Traders, Nasdaq, Investors, Fed, Oil, OPEC, West Texas Locations: New York, stoke, payrolls, Libya
QB Tiers rangesTier Tier 1 Tier 2 Tier 3 Tier 4 Movement Moved down Moved up New to Tiers Not in '23 Tiers Same tier Expand all Collapse all Loading Try changing or resetting your filters to see more. Photo: Ryan Kang / Getty Images Tiers over time Annual votes by tier Tier 1 Same tier 2 Joe Burrow Bengals Cincinnati 2024 Tier Voting Avg. Photo: Kathryn Riiley / Getty Images Tiers over time Annual votes by tier Tier 3 Same tier 18 Deshaun Watson Browns Cleveland 2024 Tier Voting Avg. Photo: Cooper Neill / Getty Images Tiers over time Annual votes by tier Tier 3 Same tier T20 Geno Smith Seahawks Seattle 2024 Tier Voting Avg. Photo: Chris Unger / Zuffa LLC / Getty Images Tiers over time Annual votes by tier Tier 4 Same tier T26 Anthony Richardson Colts Indianapolis 2024 Tier Voting Avg.
Persons: Patrick Mahomes, Lamar Jackson, Jordan Love, San Francisco 49ers ’ Brock Purdy, Houston Texans ’ C.J, Stroud, Mahomes, , Toney, , Tom Brady, , He’s, Brady, Ryan Kang, Joe Burrow, Burrow, Kirk Cousins, he’s, Cooper Neill, Josh Allen, Allen, Joe, Sam Howell —, Trevor Lawrence, Kathryn Riiley, Lamar, Jackson, Todd, Monken, Patrick Smith, Matthew Stafford, Stafford, recommitment, “ He’s, Matt Stafford, Sean, Rey Del, Justin Herbert, Herbert, “ Herbert, Aaron Rodgers, Jim Harbaugh, “ Harbaugh, I’ve, Rodgers, Achilles, it’ll, Tom Brady’s, Bobby Slowik, , Tim Warner, Prescott, Drew Brees, Ben Roethlisberger’s, Dan Marino, Peyton Manning, “ Dak, Jared Goff, It’s, Goff, “ They’ve, they’ve, Tua Tagovailoa, “ Goff, I’m, Junfu, Shane Steichen, Tua, Kellen Moore, Jason Kelce, Brock Purdy, Purdy, Colin Kaepernick, “ Purdy, it’s, “ I’m, Kurt Warner, ” Warner, Brock, Kyle Shanahan, Shanahan, Cousins, Kirk, ” Cousins, Michael Penix Jr, Michael Penix, Kevin C, Cox, ” Love, Squeaking, Mike McDaniel, Kyle Shanahan’s, ” Purdy, Tagovailoa, “ Tua, Lawrence, ” Lawrence, Lawrence —, I’d, Perry Knotts, Kyler, Murray, ‘ Kyler Murray, ” Murray, Marvin Harrison Jr, Deshaun Watson, Watson, Ken Dorsey, ” Watson, Nick Cammett, “ Baker, Baker, Mayfield, Mike Evans, moxie, Nic Antaya, Derek Carr Saints, Carr, Jon, Gruden, “ Gruden, Derek Carr, Smith, Russell Wilson, “ Trevor Lawrence, Justin Fields, Geno Smith, Wilson, Pete Carroll, Sean Payton, Mike Tomlin, Tomlin, “ Tomlin, Payton, Russ, Let’s, Joe Sargent, Daniel Jones, Jones, “ I’ve, Drew Lock, Daniel Jones ’, Malik Nabers, DK Metcalf, Jacoby Brissett, Peter Joneleit, Justin, you’ve, Justin K, Seattle’s Smith, “ Nobody, “ Gardner Minshew, Minshew, Aidan O’Connell, Chris Unger, Anthony Richardson, Richardson, marveled, Cam Newton, ’ ”, “ Shane Steichen, “ Richardson, Shane, Todd Rosenberg, ” Levis, “ I’ll, Carson Wentz, Mac Jones, Frank Reich, Dave Canales, Bryce Young, David Jensen, Sam Darnold, Darnold, J.J, McCarthy, Kevin, I’ll, ” Darnold, Stephen Maturen, Brissett, Kevin Stefanski, “ Jacoby, Alex Van Pelt, Drake Maye, Jaiden, David DeChant, Marc Mazzoni, Dan Goldfarb, John Bradford, Skye Gould, Ray Orr, Amy Cavenaile Organizations: NFL, Baltimore Ravens, Green Bay Packers, San Francisco 49ers, Houston Texans ’, Patrick Mahomes Chiefs Kansas, 0pts, Voters, Philly, Super, Chiefs, EPA, Joe Burrow Bengals, Burrow, , Josh Allen Bills Buffalo, Lamar Jackson Ravens, Ravens, Kansas City, Matthew Stafford Rams, Stafford, Rams, Rey Del Rio, Justin Herbert Chargers, Chargers, Aaron Rodgers Jets, Rodgers, Jets, . Stroud Texans, Stroud, Baltimore, Texans, Dak Prescott Cowboys, Niners, Packers, Cowboys ’, Prescott, , Jared Goff Lions, Eagles, Alabama, College Football, Brock, Brock Purdy 49ers San Francisco, 1.2pts, 49ers, Detroit, Purdy, Kirk Cousins Falcons, Falcons, Atlanta, Jordan Love Packers, Dallas, Green Bay, Cowboys, Tua Tagovailoa Dolphins, Miami, AFC East, Trevor Lawrence Jaguars Jacksonville, Jaguars, Kyler Murray Cardinals, Cardinals, Murray, Deshaun Watson Browns, Browns, Cleveland, Baker Mayfield Buccaneers Tampa, ” Voters, Derek Carr Saints New, Mayfield, NFC, Saints, Buccaneers, Geno Smith Seahawks Seattle, Seattle, Russell Wilson Steelers Pittsburgh, of Fame, Steelers, Daniel Jones Giants New, Giants, Justin Fields Steelers, Bears, Gardner Minshew Raiders, Indy, Colts, Minshew, Raiders, Anthony Richardson Colts, Health, Levis Titans, Titans, Levis, Bryce Young Panthers Carolina, Panthers, Jacoby Brissett Patriots, Patriots, Getty Images, USA Locations: San Francisco, Baltimore, Mahomes, Burrow, Matthew Stafford Rams Los, Tier, Justin Herbert Chargers Los, Green Bay, Stroud, , what’s, USA, Oklahoma, Cleveland, Atlanta, Jackson, Lawrence, Kyler Murray Cardinals Arizona, Arizona, Houston, Derek Carr Saints New Orleans, Seattle, Pittsburgh, Wilson, Denver, Cam, Levis, Carolina, Sam Darnold Vikings, New York, Minnesota, New England
CNN —A 1954 Mercedes-Benz W196 Streamliner valued between $50-70 million is among the historic cars set to be sold by the Indianapolis Motor Speedway Museum. “These vehicles will be some of the world’s most significant cars ever sold,” Gord Duff, global head of auctions at RM Sotheby’s, said in the statement. The cars will be sold at different events late this year and in 2025, according to the statement. In 2022, a very rare 1955 Mercedes-Benz SLR coupe that had been kept in the German automaker’s collection was sold to a private buyer for €135 million ($142 million at the time). “The Ferrari 250 GTO is the motoring market’s equivalent of Van Gogh’s ‘Sunflowers’ and a talisman for any top-end collection,” he said.
Persons: Mercedes, Juan Manuel Fangio, Stirling Moss, Fangio, Moss, Ferrari 250LM, Ferrari, Ford GT40, ” Gord Duff, Joe Hale, , Laurin, Mercedes Brookland, Craig Breedlove, Lee, David MacNeil, James Knight, Van, Organizations: CNN, Benz, Indianapolis Motor Speedway Museum, Chief, Sotheby’s, Prix, Le, Sotheby's, Chevrolet Corvette SS, XP64, Ford, Indianapolis, Indianapolis Motor, Indianapolis Motor Speedway, Le Mans, IMS, Klement, Ferrari Locations: Buenos Aires, Argentina, Monza
For the 67-year-old award-winning Zimbabwean, music has been the sole focus of his life. “My brother brought it home, and I thought, wow, that guitar,” Mhlanga added. Still, it was through collaboration that he made his mark, working with Zimbabwean music icon Oliver Mtukudzi. Mhlanga released his first solo album in 2000 and has since released more than 10 solo albums, EPs, and collaborative projects. After more than half a century playing his guitar, Mhlanga still aims to transform the African jazz sound.
Persons: CNN —, Louis Mhlanga, , I’ve, , Mhlanga, Ella Fitzgerald, Mahalia Jackson, Shaft, they’ve, ” Mhlanga, Jimi Hendrix, ” , Marvin Gaye, Louis Mlhlanga, Oliver Mtukudzi, Sipho Mabuse, Hugh Masekela, Miriam Makeba, Hope ”, George Duke, James Ingram, Al Jarreau, Andy Narell, Hans Timmermans Organizations: CNN, Isle of Wight Festival, Getty Locations: Isle of Wight, Vietnam, China, India, West Africa, South Africa
Mr. Ortberg, known as Kelly, will inherit a long list of difficult tasks. Mr. Ortberg, 64, brings decades of industry experience and an outsider’s perspective to the role. He is a former chief executive of Rockwell Collins, which made electronic systems and other technology for aircraft, including those made by Boeing. A mechanical engineer, Mr. Ortberg began his career at Texas Instruments in 1983. He joined Rockwell in 1987, quickly rising through the ranks, overseeing development programs for the Boeing 787 and Airbus A350 planes, and eventually becoming chief executive in 2013.
Persons: Robert K, Ortberg, Kelly, Rockwell Collins, Ortberg’s, Rockwell Organizations: Mr, Boeing, Current, Texas Instruments, Rockwell, Airbus, United Technologies, Raytheon, RTX
Tokyo Reuters —The Japanese government ordered Toyota Motor on Wednesday to make “drastic reforms” after discovering new violations in the automaker’s vehicle certification procedures. In a so-called corrective order, the Transport Ministry said on-site inspections had uncovered widespread, intentional misconduct and irregularities in seven additional models that had not been previously disclosed. Toyota and four other vehicle makers admitted in June they had submitted either flawed or manipulated data when applying for certification of vehicles. Toyota said it was planning to resume production of these models from the beginning of September after the Transport Ministry confirmed they met compliance requirements. The ministry said six of the seven additional Toyota models with irregularities were also certified in other countries, and it had alerted overseas authorities about the issues.
Persons: Noah, Voxy Organizations: Tokyo Reuters, Toyota Motor, Transport Ministry, Toyota, Corolla Fielder, Corolla, Lexus, Daihatsu, Lexus LM Locations: Tokyo
Instead, Biden’s campaign unraveled over the course of the next 24 days. It’s a high-risk, high-reward gamble for Democrats, resetting a campaign Biden was losing with a new nominee just 107 days before the election. Dunn and her husband, Bob Bauer, were among Biden’s debate prep team and had faced the ire of the president’s family in the aftermath of the debate. Several news outlets, including CNN, reported that Pelosi and former President Barack Obama had privately expressed concerns about the future of Biden’s campaign. That same day, ABC News reported that Schumer told Biden in their Saturday meeting that it would be best if he bowed out of the presidential race.
Persons: Joe Biden, , Donald Trump, Trump, Biden, Trump –, , Kamala Harris, It’s, , Mike Donilon, Steve Ricchetti, Jill Biden, Ashley, Howard, Anita Dunn, Dunn, Bob Bauer, Harris, didn’t, Austin Steele, CNN “, ” Biden, Camp David, Nancy Pelosi, Lloyd Doggett of, George Stephanopoulos, Sen, Mark Warner, Hakeem Jeffries, , George Clooney, Clooney, Pelosi, Barack Obama, Harris “, Volodymyr Zelensky, Putin, Jim Himes, Jason Crow, Crow —, Crow, Beau, outpacing Biden, Democratic pollster Stanley Greenberg, Adam Schiff, Trump’s, Pelosi –, Biden’s, ” Schiff, Jamie Raskin, George Washington, Pedro Martinez, Donilon, Schumer, Jeffries, Zoe Lofgren, Joe, Harris ’, Lester Holt, Ed Gordon, Jen O’Malley, Joe ”, James Clyburn, CNN’s Jake Tapper, CNN’s Kayla Tausche, Dana Bash, John King, Jamie Gangel, Betsy Klein, Sam Fossum, Manu Raju, Samantha Waldenberg, Donald Judd Organizations: Rehoboth Beach , Delaware CNN —, CNN, Democratic Party, Biden, Trump, Republican, Convention, MSNBC, Democratic, ABC News, Virginia Democrat, Democrats, New York Times, NATO, House Intelligence, Congressional Progressive Caucus, New Democrat Coalition, Colorado Democrat, Army, , California Rep, Democratic Senate, Maryland House Democrat, Red Sox, Democratic House, Democratic National Committee, White House, Senate Democratic, Democrat, NBC, NAACP National Convention, BET, Univision, NAACP, South Carolina Rep, South, Locations: Rehoboth Beach , Delaware, Covid, Delaware, Atlanta, , Rehoboth, North Carolina, Camp, Lloyd Doggett of Texas, Virginia, Washington, Jim Himes of Connecticut, Afghanistan, Iraq, Butler , Pennsylvania, Zoe Lofgren of California, Las Vegas, UnidosUS, “ State, South Carolina
It's your last chance to shop Amazon Prime Day deals on tech, beauty products, vacuums and more. SKIP AHEAD The best Prime Day deals | More Prime Day sales to check out | The best sales at other retailersWant more from our everyday experts, straight to your inbox? Other Amazon Echo smart speakers are also on sale during Prime Day, including the Echo Spot ($44.99) and Echo Dot ($24.99). Best Prime Day salesHere are the best Prime Day sales to know about. Best Prime Day clothing, shoes and accessories salesBest Prime Day tech salesBest Prime Day home and kitchen salesBest Prime Day pet supplies salesBest Prime Day beauty and wellness salesBest Prime Day travel salesBest Prime Day food and beverage dealsPrime Day: Best sales at other retailersFrequently asked questions When does Amazon Prime Day end?
Persons: I’ve, they’re, It’s, Chamberlain, They’re, fanny, , Siri, Differin, dermatologists, shea, Alexa, Lindsay Schneider, Mili, it’s, you’ll, Chili Crisp, Zhong, TikTok Organizations: Amazon, NBC, AA, AAA, Apple, Netflix, Apple TV, Hulu, Spotify, Apple Music, Sirius XM, Chengdu Crunch, Amazon Prime, Wellness, Facebook, Twitter Locations: Chili, Zhong Sauce
“Anyone who thinks this is over is mistaken,” said one House Democrat about the ongoing conversations happening behind the scenes. The delay stopped a draft letter circulating among House Democrats that, if made formal, would have exposed further cracks in the party. ABC News’ Jonathan Karl reported earlier Wednesday that Schumer told Biden on Saturday that it would be best if Biden bowed out of the presidential race. At one point, Biden told Crow, “I don’t want to hear that crap” in addressing the lawmaker’s concerns. In response, Biden told Houlahan that his team would get her talking points about all of the things that he has done for Pennsylvania, reminding her that he married a Philly girl.
Persons: Joe Biden, , , Donald Trump, Lester Holt, Biden, Nancy Pelosi, , ” “ He’s, ‘ Kamala can’t, , Kamala, “ It’s, “ He’s, Hakeem Jeffries, Chuck Schumer, Adam Schiff, William B, Plowman, Lloyd Doggett of, Biden’s, , Jeffries, Jonathan Karl, Schumer, Joe Biden's, Mike Donlion, Steve Richetti, Jen O'Malley Dillon, Bonnie Cash, Kevin Dietsch, Joe, Andrew Bates, Jason Crow, Crow, Beau, you’ve, Annie Kuster, Chrissy Houlahan, Houlahan, Adam Smith, ” Smith, who’s, “ That’s, ” Biden, David Becker, Mike Levin, Democratic Sen, Chris Coons, CNN’s Pamela Brown, CNN’s Jeff Zeleny, Kayla Tausche, Pamela Brown Organizations: CNN, , House Democratic Caucus, Democratic, Democrat, NBC, Las Vegas, Trump, Republican National Convention, Democrats, Democratic Party, White, Biden, Democratic National Committee, DNC, Washington D.C, . California Democratic, Capitol, Democratic Caucus, Biden White House, ABC, Democratic Senatorial, Getty, ., U.S, ABC News, Schumer, House Democrats, Colorado Democrat, Army, NATO, Philly, Washington, 115th NAACP National, Congressional Hispanic Caucus, Congressional Progressive Caucus, Congressional Asian Pacific American Caucus, Delaware Democrat Locations: Delaware, Las, Milwaukee, Washington, Lloyd Doggett of Texas, Washington , DC, Washington ,, Afghanistan, Iraq, New Hampshire, Pennsylvania, Las Vegas
Private efforts to nudge Biden to step aside continue
  + stars: | 2024-07-15 | by ( John King | ) edition.cnn.com   time to read: +2 min
Milwaukee CNN —The public calls from Democrats asking President Joe Biden to bow out of the presidential race have quieted in recent days, but private efforts to nudge the president and his top aides continue, several Democratic sources told CNN. “Lose everything,” is how one Democrat described a polling memo Greenberg sent to Biden’s inner circle in recent days. “Devastating,” was the one word answer of a second Democrat close to the White House who is familiar with the Greenberg memos. Greenberg has been a leading Democratic pollster for decades and his work includes advising Bill Clinton’s two winning presidential campaigns. In his NBC News interview Monday, for example, the president again made clear he has no intention of stepping aside.
Persons: Joe Biden, Democratic pollster, Stanley Greenberg, Biden, Greenberg, , Bill Clinton’s Organizations: Milwaukee CNN, CNN, Democratic, White, NBC, Republican, GOP
New York CNN —Boeing has agreed to buy Spirit Aerosystems, one of its major suppliers and manufacturing partners, as part of its plan to overhaul the aircraft maker’s badly damaged safety reputation. Boeing in March announced its intention to buy Spirit, saying recombining the companies would boost safety. Spirit AeroSystems makes major parts of several Boeing models, including the fuselages for the 737 Max. The company also makes parts for Boeing’s rival Airbus, although Boeing is Spirit’s largest customer. The first group of employees removed the door plug to address problems with rivets that were made by Spirit AeroSystems.
Persons: Spirit’s, , Dave Calhoun, AeroSystems, Max, Sprit, Spirit Aerosystems, CNN’s Chris Isidore Organizations: New, New York CNN, Boeing, Spirit, Airbus, Alaska Airways, US Justice Department Locations: New York
Washington CNN —President Joe Biden’s debate performance has set off alarm bells among top Democrats, leaving some to openly question whether Biden can stay atop of the Democratic ticket. Pressed by Cooper on Biden’s performance, Harris offered a defense of her boss. Austin Steele/CNNBiden brushed off concerns about his debate performance, telling reporters that he thought he performed well while visiting patrons at a Waffle House after the debate. When asked about calls for him to drop out and if he had any concerns about his debate performance, Biden attacked former president Donald Trump. Democratic Party officials questioned why Biden missed other opportunities to slam Trump’s comments, particularly on the issue of abortion.
Persons: Joe Biden’s, Biden, , David Axelrod, Axelrod, Donald Trump, Trump’s, Kamala Harris, Joe Biden, ” Harris, CNN’s Anderson Cooper, Cooper, Harris, , I’m, Trump, Austin Steele, CNN Biden, ” Biden, who’s, Gavin, Newsom, Gretchen, Whitmer, I’d, “ Trump, Kate Bedingfield, ” Bedingfield, “ Biden, Trump’s mistruths, Jill Biden, Jake Tapper, Dana Bash, Will Lanzoni, Jill, Joe Organizations: Washington CNN, Democratic, CNN, Capitol, White House, Waffle, , Biden, Convention, Biden White House Locations: United States, Chicago, Trump’s
The US chipmaker’s market capitalization hit $3.34 trillion on June 18 to surpass Microsoft’s but has since shed $430 billion. Now worth $2.91 trillion, Nvidia has fallen into third place globally, behind Microsoft (MSFT) and Apple (AAPL), which have a market cap of $3.33 trillion and $3.19 trillion respectively. The company’s chips power AI systems, including generative AI, the technology behind OpenAI’s ChatGPT that can create text, images and other media. Now investors have started to take profits and they seem to prefer selling stocks with the best year-to-date performance.”Market contagion? Nvidia is a member of the so-called Magnificent Seven, the mega-cap tech companies whose shares greatly outperformed the broader US stock market rally last year.
Persons: ” Jim Reid, OpenAI’s, Nvidia’s, ” Jochen Stanzl, , , Derren Nathan, Hargreaves, isn’t, Organizations: London CNN, Nvidia, US, Microsoft, Apple, Deutsche Bank, CMC, CNN, Nasdaq
“Oh, I like that.”The film’s writer-director Yorgos Lanthimos, a connoisseur of Biblical violence and creator of cursed demimondes, likes to push viewers to the limit. Hong Chau and Jesse Plemons in "Kinds of Kindness." Courtesy Searchlight PicturesIn “Kinds of Kindness,” Lanthimos injects Old Testament logic into everyday life in twisted parables about the social contracts we write one another. Alwyn, a veteran of “The Favourite,” is in many ways the typical Lanthimos actor. “Kinds of Kindness” is available in select US cinemas from June 21, and released nationwide and in the UK on June 28.
Persons: Jesse Plemons, , Yorgos Lanthimos, Plemons, Emma Stone, Willem Dafoe, Hong Chau, Joe Alwyn, Margaret Qualley, Mamoudou, , Oscar, Tony McNamara, Lanthimos, Efthimis Filippou, Dafoe, Stone, she’s, Atsushi Nishijima, Alwyn, ” Athie, isn’t, ” Dafoe, Omi, we’re, God, Raymond, , Colin Farrell, Christos Stergioglou’s fabulist, curdles, awfulness, Emily, ” Alwyn, he’s Organizations: CNN, Cannes Film, Searchlight, coy Locations: Hong, America,
New York CNN —Nvidia’s eye-popping gains this year have helped propel the stock market to repeated record highs. Can Nvidia’s blockbuster gains continue, and what does its outsized market cap mean for the stock rally? Now everyone says, “the market is dependent on Nvidia’s earnings.” You’re going to see a kind of a shift in market cap over the years. “These lower mortgage rates coupled with the gradually improving housing supply bodes well for the housing market.”Still, mortgage rates remain higher than anything seen in the decade before 2022, the year the Federal Reserve began to raise interest rates to combat inflation. The Fed doesn’t directly set mortgage rates but its actions do influence them through the benchmark 10-year US Treasury yield, which moves in anticipation of the Fed’s policy moves.
Persons: OpenAI’s, Bell, Christopher Barto, ” You’re, Bryan Mena, Freddie Mac, , Sam Khater, Freddie Mac’s, don’t, Read, Ilya Sutskever, Clare Duffy, Sutskever, Geoffrey Hinton Organizations: CNN Business, Bell, New York CNN, Nvidia, Microsoft, Fort Pitt Capital Group, Apple, Meta, Google, Amazon, , Federal Reserve, Treasury, Superintelligence Inc, SSI Locations: New York
Americans could be on a tight budget this summer
  + stars: | 2024-06-20 | by ( Krystal Hur | ) edition.cnn.com   time to read: +6 min
New York CNN —Americans tend to shell out in the summer as they venture outdoors, book trips and step away from their desks. Consumers plan to spend less on away-from-home entertainment and vacations this summer, according to the 2024 KPMG Consumer Pulse Survey released Tuesday. That’s a contrast to last year when Americans shelled out on the “Barbenheimer” phenomenon, Taylor Swift and Beyoncé concert tickets and getaways. Retailers that offer Americans more bang for their buck including Ross Stores, TJ Maxx and HomeGoods-parent TJX, Dollar General and Walmart have benefitted. Americans are also feeling worse about the economy as they struggle with elevated inflation and high borrowing rates.
Persons: Taylor Swift, It’s, , Duleep Rodrigo, TJ Maxx, Mark Thompson, Henley, ” Hannah White, , OpenAI’s Organizations: CNN Business, Bell, New York CNN, Pulse Survey, Commerce Department, Federal Reserve, Retailers, Ross Stores, Walmart, Abercrombie, Fitch, Williams, University, Michigan’s, Millionaires, Labour, Henley & Partners, Institute for Government, City of, Henley Private Wealth, Nvidia, Microsoft, Apple Locations: New York, Sonoma, Britain, United Kingdom, City of London
CNN —At least two major airlines have warned pilots that if a bird hits one of the engines on a Boeing 737 Max, the passenger cabin could become filled with smoke. Documents newly obtained by CNN detail that Boeing warned Southwest Airlines and American Airlines of the potential problem in February and both airlines in turn sent alerts to their respective pilot groups. “Boeing has received two reports of CFM LEAP-1B engine failures following large bird strikes on takeoff and initial climb,” said the alert to American Airlines pilots. Southwest’s alert says such a strike could cause oil to burn and the “immediate presence of smoke and fumes” entering the passenger cabin “through the air conditioning system.”The issue was not made widely public until being first reported by The Seattle Times but is significant as it could signal another potential issue with 737 Max aircraft which have been dogged by manufacturing and design issues. Engine maker CFM International says their engine has met “bird ingestion certification requirements, and the engines performed as designed during these events.”The company underscored that birds in the two incidents that prompted pilot bulletins were much larger than required for certification testing and that the CFM engine still performed as designed.
Persons: , , Dave Calhoun, Max Organizations: CNN, Boeing, Max, Southwest Airlines, American Airlines of, CFM, American Airlines, The Seattle Times, CFM International, Federal Aviation Administration, ” Boeing, CFM “, FAA, Capitol Locations:
New York CNN —Nvidia, Wall Street’s artificial intelligence poster child, is now the most valuable company in the United States. Apple is the third most valuable company in the US with a $3.27 trillion market cap. Nvidia earlier this month joined the tech giants in becoming the only US companies to cross a $3 trillion market cap. Nvidia’s chips are unmatched in producing processors that power artificial intelligence systems, including for generative AI, the technology backing OpenAI’s ChatGPT that can create text, images and other media. The Jensen Huang-led company’s dethroning of Microsoft comes as Wall Street’s most prominent tech companies battle for the coveted top spot.
Persons: OpenAI’s, Jensen Huang, company’s Organizations: New, New York CNN, Nvidia, Microsoft, Apple, Developers Locations: New York, United States
How should traders invest in a higher-for-longer rate environment? Before the Bell: What do higher-for-longer rates mean for the stock market? What I find interesting and actually kind of invigorating is the resilience of the US economy in the face of these expected higher-for-longer rates. There will be some sectors that higher-for-longer rates will impact. And so we can see consumer durables slowing down or suffering a little bit in this higher-for-longer rate environment.
Persons: Price, Bell, Wylie Tollette, we’ve, We’ve, Jeanne Sahadi, isn’t, , , , ” Read, iPhones Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Consumer, Franklin Templeton Investment Solutions, Big Tech, Energy, Gallup, Global, , Apple, Microsoft, Nvidia Locations: New York, “ State, United States
Shareholders in Tesla voted in favor of his two big asks, reaffirming a multibillion-dollar compensation package that a Delaware judge had nullified and approving the company’s reincorporation in Texas. “I think we’re not just opening a new chapter for Tesla, we’re starting a new book,” a jubilant Musk told shareholders at the company’s annual meeting. The vote doesn’t end Tesla and Musk’s legal fights in Delaware, including over the compensation plan. About 84 percent of votes cast, excluding the Musks’ shares, backed the reincorporation proposal. DealBook hears that Tesla succeeded in getting retail investors, who were overwhelmingly supportive of Musk, to vote in far greater numbers than they usually do.
Persons: Elon Musk, , Tesla, , Musk, ” Musk, aren’t, Kimbal Organizations: Tesla, Wall Street, Vanguard, BlackRock Locations: Delaware, Texas
Apple is now the most valuable US public company
  + stars: | 2024-06-13 | by ( Krystal Hur | ) edition.cnn.com   time to read: +1 min
New York CNN —Apple edged past Microsoft on Thursday to become the most valuable public company in the United States, as announcements made at its annual Worldwide Developers Conference including generative AI features for iPhones sent the stock climbing. Apple shares rose 0.6% on Thursday and have popped 8.8% so far this week. Microsoft shares rose 0.1% on Thursday. The iPhone maker’s comeback comes just a week after Nvidia on June 5 surpassed it to become the second-largest public US company. Although the partnership will likely give the company a much-needed boost, Apple aligning itself with a company and a technology that have yet to win public trust has raised criticism, especially for taking user inputs and incorporating them into ChatGPT’s data set.
Persons: iPhones, OpenAI Organizations: New, New York CNN, Apple, Microsoft, Nvidia Locations: New York, United States, China, Washington
Justice Samuel Alito has been widely criticized this week for remarks he made to a self-described documentary filmmaker who on two occasions engaged him at social events, secretly taped him under false pretenses and released the recordings. What did he say that was wrong? None of his remarks was improper for a judge to make. Furthermore, he did not even say anything especially controversial — or at least nothing that would be controversial in a less polarized moment. But he said that solving polarization is not something that the Supreme Court can do, because “we have a very defined role, and we need to do what we’re supposed to do.” He added: “That is way above us.”
Persons: Samuel Alito, Alito,
Tesla Share Price Is Its Own Referendum on Musk
  + stars: | 2024-06-13 | by ( Peter Eavis | Jack Ewing | ) www.nytimes.com   time to read: +1 min
The Tesla shareholder vote over Elon Musk’s pay is in some ways a referendum on the performance of the company and its chief executive. Late on Wednesday, Mr. Musk claimed victory in a social media post, saying that votes in favor of his pay package were leading by “wide margins,” giving Tesla’s stock a boost. But even before the official results are announced on Thursday, Tesla’s flagging stock price shows that investors have plenty of doubts about Mr. Musk and the electric carmaker’s outlook. Tesla’s shares are down nearly 30 percent this year, even as the broader stock market is up 14 percent. At its peak in 2021, the stock market value of Tesla was $1.2 trillion, putting it in the company of tech giants like Microsoft, Apple and Google.
Persons: Musk, Tesla, Price Organizations: Elon, Microsoft, Apple, Google, Visa, Walmart
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