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Four years after a racial reckoning roiled Condé Nast's Bon Appétit, insiders worry that planned cuts could undo a fragile rebuilding effort. Included in that figure are 94 members, or 17%, of Condé Nast Union, which covers around 550 people across a dozen titles, including Vanity Fair, Vogue, and GQ. The Test Kitchen also benefited from a home cooking boom in the pandemic. But by August 2020, 10 of 13 members of the Test Kitchen had left. Members of the BA Test Kitchen in February 2020.
Persons: Bon Appétit, Condé, Roger Lynch, Adam Rapoport, that'll, Claire Saffitz, Brad Leone, Roy Rochlin, Rachel Gurjar, Kendra Vaculin, Dawn Davis, Sonia Chopra, Davis, Monica Schipper, they'd, Jamila Robinson, James Beard, Jeff Schear, Condé Nast, Lynch, Robinson, Slack, Delia Cai, Ina Garten Organizations: Condé, Condé Nast Union, Vogue, Business, YouTube, Labs, James, The New York Times, Philadelphia Inquirer, Union, New York, Employees Locations: Condé Nast, New York City, Caribbean, Seoul, Hollywood
President Joe Biden and first lady Jill Biden hosted a state dinner for the prime minister of Japan. Cherry blossoms appeared in the White House decor and menu as well as in guests' outfits. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The event, featuring cherry blossom-themed decor and high-profile guests, was more than just an excuse to dress up and decorate the White House. Take a look at some of the highlights from the state dinner.
Persons: Joe Biden, Jill Biden, Cherry, Jeff Bezos, Tim Cook, Robert De Niro, , Fumio Kishida, Yuko Kishida Organizations: Japan, Service, Japanese, White Locations: Japan
CNN —Locals in the Canary Islands are mobilizing to protest against excessive tourism, blaming visitors for pricing them out of their homes and causing environmental damage. “Every person who joins the human chain sends a strong message to the government: The Canary Islands are not willing to continue sacrificing their future,” it said in a post on Facebook published Wednesday. The group also blames local authorities for approving large tourist developments that worsen existing issues, such as increasing water shortages. “The objective is to create a committee of experts to establish common guidelines,” said Jéssica de León, minister for tourism and employment in the Canary Islands regional government, in a statement published Tuesday. Concerns about the impact of tourism are not unique to the Canary Islands.
Persons: Fundación, , , EyesWideOpen, Jéssica, León, De León Organizations: CNN, Locals, Se Agota, Facebook Locations: Africa, Tourism, Tenerife, Canary, Spanish, Barcelona
Wooden turbine towers could make wind power even greener
  + stars: | 2024-04-10 | by ( Arya Jyothi | ) edition.cnn.com   time to read: +6 min
Swedish company Modvion believes it has found a greener alternative — building turbine towers from wood. ModvionAccording to Otto Lundman, co-founder and CEO of Modvion, using wooden towers reduces the lifecycle emissions of a wind turbine by over 25%, and by 90% if you only compare the tower component of the turbine. He adds that if you take into account the carbon dioxide absorbed by trees when they grow, the wooden towers can be considered to store more carbon that they emit. In 2023 the company installed its first commercial two-megawatt unit, a 105-meter-high (345 feet) wooden turbine tower, called Wind of Change, outside Skara, Sweden, for electric utility company Varberg Energi. “But in wind power standards, wood is not really considered for the towers, it’s mostly steel and concrete.
Persons: Modvion, Otto Lundman, Lundman, David Olivegren, Wood, , Abbas Kazemi Amiri, Amiri, , Paul Wennerholm Organizations: CNN, Swedish Energy Agency, Wind Energy, Control, University of Strathclyde, Voodin Blades Locations: Sweden, Skara, University of Strathclyde , Glasgow
Miami has one of the hottest real estate markets in the country. Real estate developers are promoting new housing in drier parts of the city as an escape from regular flooding, researchers have found. And Miami is far from alone — coastal flooding, extreme heat, and other climate impacts are affecting cities across the country. And Miami residents are spending a larger share of their income on housing these days. The rent-to-income ratio in Miami has risen from 35.9% in 2019 to 37.0% at the end of last year, according to Moody's.
Persons: Moody's, Pedro, Organizations: Service, Business, Liberty, Dade, McKinsey & Company, Miami Locations: Miami, South Florida, Little Haiti, Liberty City, — Miami, Florida, Dade County
Binance CEO Richard Teng at the Paris Blockchain Week summit in Paris, France, on Tuesday, April 9, 2024. Binance's new CEO Richard Teng said the company has moved past cultural issues after the company was hit with a $4.3 billion fine to settle charges from the U.S. Justice Department. "But we have moved past that, as the company moved into regulatory maturity, [and] we are moving toward sustainability." In November, Binance agreed to pay a $4.3 billion settlement to the U.S. government, including a forfeiture of $2.5 billion and a fine of $1.8 billion. Former Binance CEO Changpeng Zhao was charged with violating the Bank Secrecy Act and agreed to step down.
Persons: Richard Teng, Binance, Teng, CNBC's Arjun Kharpal, Changpeng Zhao, Zhao Organizations: Paris, U.S . Justice Department, DOJ, ., U.S, BSA, Justice Department Locations: Paris, France, Binance, U.S
Investors may want to pick up shares in companies that can withstand a possible inflation comeback. The second quarter is off to a rough start as investors have become increasingly wary about higher-for-longer interest rates and stickier inflation. Against this market backdrop, we used the CNBC Pro Stock Screener to search for stocks with the pricing power and cost controls to handle a potential inflation reacceleration. These names have also showed reliable earnings growth during the post-pandemic inflation spike. The darling chipmaker has gross profit margin of 72.7% and high levels of earnings growth.
Persons: Dow, Dow Jones, Brad Reback, ServiceNow's, Reback, Goldman Sachs, Arista's Organizations: Nasdaq, Federal Reserve, CNBC, Stock, Arista Networks, Arista, Nvidia, Design Systems, Dominion Freight
CNN —Why did the toad cross the road? And this is why a Russian nature reserve is looking for people to help its local toads traverse a busy road later this year. The toads have to cross the road to reach a lake where they lay their eggs. So, in order to preserve the population, the reserve seeks the help of volunteers every year to help the toads safely reach their spawning grounds. The reserve requires volunteers to complete registration as well as training before they can help the toads cross the road, and it urges citizens who aren’t trained in toad-marshalling not to touch the creatures as this could harm them.
Persons: aren’t Organizations: CNN, Petersburg’s, Environmental Management, Environmental Locations: Russian, ” St, St . Petersburg
Schneider Electric: Sustainability is good business
  + stars: | 2024-04-09 | 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 EmailSchneider Electric: Sustainability is good businessGwenaelle Avice Huet, executive vice president of Europe operations at Schneider Electric, discusses climate priorities and the push for sustainability.
Persons: Gwenaelle Avice Huet Organizations: Schneider, Sustainability, Schneider Electric
The energy required by AI is "just insatiable," chipmaker CEO Rene Haas told The Wall Street Journal. At this rate, AI could consume as much as 20% to 25% of US power requirements, Haas said. AI tech needs to be sustainable, or it'll slow down innovation, Haas said. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. Arm CEO Rene Haas told The Wall Street Journal that AI can't keep devouring so much energy at huge data centers if the industry wants to keep advancing.
Persons: Rene Haas, Haas Organizations: Wall Street, Service, Business
German Business Is Tangled in Red Tape
  + stars: | 2024-04-09 | by ( Melissa Eddy | ) www.nytimes.com   time to read: +1 min
When Markus Wingens created the position of “energy manager” for the metal heat-treatment company he runs in southwestern Germany, his idea was to increase energy efficiency and attract customers interested in sustainability. But the job has become as much a task of filling out paperwork and studying seemingly ever-changing laws as it is ensuring that the firm, Technotherm Heat Treatment Group, is meeting energy requirements. Last year, four new laws and 14 amendments to existing ones governing energy use took effect, each bringing fresh demands for data to be reported and forms to be submitted — in many cases to prove the same standards that the company has already been certified as reaching since 2012, Mr. Wingens said. “We have the Renewable Energy Act, we have the Energy Efficiency Act, we have the Energy Financing Act, and each comes with an administrative burden,” he said. “It’s madness.”
Persons: Markus Wingens, , Wingens, Organizations: Renewable Energy, Energy Locations: Germany
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTechnology is the major driver in sustainability efforts: SABIC CEOSABIC's CEO Abdulrahman Al-Fageeh says he is confident that the company will hit its 2030 sustainability target.
Persons: Abdulrahman Al, Fageeh Organizations: Technology
The remote landscapes of La Huasteca Potosina – part of the larger La Huasteca region spanning multiple states – include vast desert, lush mountains and rainforest nooks with turquoise rivers and waterfalls. Renting a car in the city of San Luis Potosí provides the most flexibility for visitors to chart their own paths through the state’s La Huasteca region. Corazón de Xoconostle and Auténtico San Luis both offer customized excursions from the city. Or maybe a night in the cozy town of Tamasopo on the western edge of La Huasteca Potosina. The city of San Luis Potosi is worth exploring and is a jumping-off point for a trip to La Huasteca to the east.
Persons: San Luis Potosí, Corazón de, Luna, Media Luna –, Don Juan Merendero, Juvencio Martínez Flores, Erich Schlegel, Luna wasn’t, , Saul Martínez Ramírez, Martínez, Puente, Puente de Dios, Dios, Mexico’s, parakeets, Miguel Galarraga, Corazon de Xoconostle, Mark Johanson, Estela Martínez, , Elena Nilova, Salvador Dali, Edward James, James, Dali, , Tilda Swinton, La Huasteca, Costanza Organizations: CNN, , Hotel Media Luna, Chicago Tribune, San, Edward James Sculpture, Getty, W Magazine, La Locations: San Luis, Mexican, Madre, La, Mexico, San, Huasteca, Luis, Ciudad Valles, Media, It’s, Rioverde, Media Luna, , Dios, Tamasopo, Puente, Plop, las, Xilitla, Estela Martínez Santiago, San Isidro, Aquismón, Chicago, Sótano, Salvador, there’s, Mexico City, San Luis Potosi, Barrios, El, La Paz
Toilet paper wipes out thousands of acres of Canadian forest each year, and demand for it is growing. Toilet paper is most often made of wood pulp, which, in the U.S., is generally sourced from Canada. One of the biggest competitors to the sustainable toilet paper market is the growing market for bidets. But toilet paper is also made with water, far more than is used in a bidet. If you live in a drought-stricken area, a sustainable toilet tissue is a better option.
Persons: we've, David VanHimbergen, Kimberly Clark, Andrew Bluestein, they'll Organizations: National Resources Defense, Foods, Bluestein Ventures, Ventures, Great Oaks Venture Capital, Trousdale Ventures, Mandell Ventures, bidets Locations: U.S, Canada, Green, China, Central America
Seamus Coleman of Everton gives the team instructions during the Premier League match between Everton FC and Burnley FC at Goodison Park on April 06, 2024 in Liverpool, England. Everton have received a two-point deduction, their second points cut this season, after the club's appeal against a Premier League charge for a breach of Profitability and Sustainability Rules (PSR) was unsuccessful, the league said on Monday. The independent commission heard evidence and arguments from the club on a range of potential mitigating factors for its admitted breach of 16.6 million pounds ($21 million), including the impact of its two successive PSR charges, the league said. "The commission determined the appropriate sanction to be a two-point deduction, taking effect immediately," it said in a statement.
Persons: Seamus Coleman Organizations: Everton, Premier League, Everton FC, Burnley FC, Goodison Park Locations: Liverpool, England
Pictured here is a Nio battery swapping station in Haikou, Hainan province, China, on May 9, 2023. Bloomberg | Bloomberg | Getty ImagesBEIJING — Chinese electric car company Nio has been expanding its battery swap partnerships in a bid to gain an edge on the infrastructure side of the EV ecosystem. Nio also announced agreements earlier this year to work with two local battery companies on battery swap services. While having a large network of battery charging stations helps address those concerns, battery swapping is a faster method as it takes only a few minutes. CLSA's Luo said businesses also prefer to invest in normal charging stations than swap stations because they make a higher return.
Persons: Nio, , JAC —, Ding Luo, Shen Fei, Shen, it's, Le, William Li, Shay Natarajan, Luo, Ford Organizations: Bloomberg, Getty, Chery, CNBC, Battery, Nissan, Sino Auto, Mobility Impact Partners, General Motors Locations: Haikou, Hainan province, China, BEIJING, U.S, San Francisco, Kyoto, Japan, Madrid, Spain, Europe, North America
Former governor of the Bank of Finland discusses climate issues
  + stars: | 2024-04-05 | 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 EmailClimate 'an issue of common concern' between countries, says former governor of the Bank of FinlandErkki Liikanen, chair of trustees at IFRS and former governor of the Bank of Finland, discusses climate issues and sustainability investing.
Persons: Bank of Finland Erkki Liikanen Organizations: Bank of Finland, IFRS
Citi raised its target price to $106 from $101, which amounts to about 25% upside from Thursday's $84.47 close. Ollie's stock has ticked down 6.2% in 2024. SoFi stock has been under pressure in 2024 with a nearly 27% pullback. —Brian Evans 6:07 a.m.: Pivotal Research Group raises Netflix price target to Wall Street high Pivotal Research Group expects Netflix to outperform estimates for subscriber growth and average revenue per user in 2024 and beyond. Netflix stock has surged about 27% in 2024.
Persons: McDonald's, Anthony Pettinari, Brian Evans, Ollie's, Anthony Chukumba, — Brian Evans, KBW, Keefe, Timothy Switzer, Jeffrey Wlodarczak, Piper Sandler, Krispy, Krispy Kreme, Piper, Brian Mullan, Mullan Organizations: CNBC, Netflix, Sofi Technologies, Citi, Capital, Holdings
The WNBA, still emerging entering its 28th season, hopes Caitlin Clark can achieve what those athletes did and turn the league into a cultural phenomenon. WNBA players’ salaries also lag behind. Turning Clark fans into WNBA fansClark is already having an impact on the WNBA. “The need by WNBA teams to invest in fan acquisition and fan engagement is really critical to maximize this moment,” she said. Bebeto Matthews/APThe league was financially connected to the NBA, and each of the first eight WNBA teams was linked to an NBA franchise.
Persons: Woods, Venus Williams, Michael Jordan, Caitlin Clark, , Boris Lelchitski, Candace Parker, Jonquel Jones, ” Clark, Angel Reese, Clark, Reese, , Phil Cook, Gregory Fisher, Nielsen, “ Caitlin Clark, Noah Henderson, Cathy Engelbert, “ We’ve, Erica Denhoff, Jessica Gelman, Gelman, David Stern, Lisa Leslie, Sheryl Swoopes, Rebecca Lobo, Bebeto Matthews, Terri Jackson, ” Donna Orender, Orender, ” Engelbert, Cameron Brink, , “ Clark, Donna Orender Organizations: New, New York CNN, NBA, WNBA, Indiana Fever, NCAA, University of Iowa, Louisiana State University, Tiger, USA, Sports, Reuters, Loyola University, CNN, LSU, WNBA's Indiana, Kraft Analytics Group, MIT Sloan Sports Analytics, Nielsen, Brands, Gatorade, State, longtime, Olympics, Basketball Players Association, Deloitte, Kraft Analytics Locations: New York, Chicago, Iowa, USA, Atlanta, San Francisco
"We are raising our YE'24 NFLX target price $65 to a street-high $765 driven primarily by a combo of higher '24 and beyond subscriber/ARPU forecasts." "We are upgrading Ollie's Bargain Outlet to a Buy from a Hold rating while raising our price target to $90 from $80, implying 26% upside from current levels." We cut our price target from $2 to $1, still giving ATUS the highest multiple in Cable as optionality. "We are raising our already Street High $330 YE'24 target price $60 to $390 driven primarily by higher premium and to a lesser extent ad supported ARPU forecasts." Jefferies adds Pepsi to the franchise picks list Jefferies said it sees opportunity internationally for Pepsi and raised its price target to $209 per share from $199.
Persons: Marvell, it's, Bernstein, Mizuho, Wells, Piper Sandler, Krispy, JPMorgan, Eli Lilly, LLY, Stifel, Rosenblatt, Snowflake, Jefferies, underperform KBW, Daiwa, Tesla, KBW, Monness Crespi Hardt Organizations: Netflix, Bank of America, Apple, Amazon Web Services, RBC, Eaton, Piper, JPMorgan, Technologies, Cable, Spotify, BMO, Royal Bank, Pepsi, Fox, Fox News, Digital, Citi, Express, American Express Locations: NY, McDonald's, USA, Toronto, Snowflake, U.S
Rolex’s Perpetual Planet initiative has partnered with CNN to drive awareness and education around key sustainability issues and to inspire positive action. CNN —Renowned primatologist Jane Goodall turned 90 on Wednesday—and to mark the occasion, 90 female photographers have put their work up for sale for 90 days. The Jane Goodall Foundation, which works to protect chimpanzees and their habitat, will receive 60% of the proceeds. “Jane Goodall did more than just redefine our understanding of the relationship between humans and animals; she shattered barriers and opened doors for women everywhere,” she added. The British animal behaviorist is known for her enduring and exceptionally detailed research on the chimpanzees of Gombe Stream National Park.
Persons: Jane Goodall, Jane Goodall’s, Ami Vitale, “ Jane Goodall, Jody MacDonald, Tui De Roy, Tamara Dean, Rajan, Goodall, ” Goodall, Organizations: CNN, Jane Goodall Foundation, National Geographic, Vital Locations: Hope, Tanzania’s Gombe, Gombe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDanone CEO: Our dependence on nature means sustainability is at our coreAntoine de Saint-Affrique, CEO of Danone, discusses what the company is doing to deal with the cost-of-living-crisis and climate change, among other things.
Persons: Antoine de Saint Organizations: Danone
US Steel's plant in Gary, Indiana, aims to deploy carbon capture to reduce its carbon footprint by 2026. Climate groups and some scientists say carbon capture is unproven and will worsen global warming. If completed, the project would be the first commercial carbon capture at a steel plant. A 3D rendering of where CarbonFree's carbon capture technology will attach to US Steel's mill. "It's not a viable pathway to decarbonize GaryWorks," Inskeep said of carbon capture.
Persons: Erika Chan, It's, CarbonFree, Martin Keighley, Keighley, , Ben Inskeep, Inskeep, GaryWorks, We've, hasn't, Chan, Joe Biden Organizations: Service, US Steel, Keighley, Citizens Action Coalition of Indiana, Steel, Cleveland Cliffs, Department of Energy, Nippon Steel, The United Steelworkers Locations: Gary , Indiana, Lake Michigan, GaryWorks, Indiana, Gary, East Arkansas, Cleveland, Ohio, Pennsylvania
A development organization in Saudi Arabia is changing perceptions of how regenerative tourism can work. He took a different course: Building a vertically-integrated real estate company to deliver The Red Sea. Across its two larger destinations, The Red Sea and AMAALA, RSG is creating 120,000 new jobs, directly and indirectly. Destinations like The Red Sea and AMAALA aim to build a broader, more leisure-focused tourism sector. This article was created by Insider Studios with Red Sea Global.
Persons: John Pagano, Pagano, St Regis, RSG, RSG —, King Abdullah, I've, University of Prince Mugrin, We're Organizations: Red Sea, St, Ritz, Carlton Reserve, imminently, King, King Abdullah University of Science and Technology, KAUST, Saudi, Hospitality, University of Prince, Tourism, Insider Studios, Sea Locations: Saudi Arabia, London, Bahamas, RSG, Central, Saudi, Red
Chinese manufacturers are causing a global glut of solar panels. Solar panels have become so cheap that some people are using them to line fences. US Treasury Secretary Janet Yellen is set to discuss the overcapacity during her trip to China starting Wednesday. Solar panels — 80% of which are made in China — are so cheap that they are now being used to line garden fences in Germany and the Netherlands, the Financial Times reported on Tuesday. Solar panels are typically installed on rooftops, where they can capture the most sunlight — but there's so much excess supply that people in these two countries are now putting them on fences.
Persons: Janet Yellen Organizations: Service, Financial Times, Business Locations: China, Germany, Netherlands
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