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☆ US flight prices are over $200 cheaper than they were 30 years ago when adjusting for inflation. Here's why it doesn't feel like it.
▼ + stars: | 2024-06-10 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +10 min

But if you ask some Americans, airfares have gotten out of control in recent years. Keyes said international inflation-adjusted airfares for US passengers have also generally fallen over the past decade. To be sure, any frustrations about airfare prices haven't stopped many Americans from flying. "The decline in inflation-adjusted airfares appears to be uncorrelated with the financial performance of the 'big three' airlines," Tan said. AdvertisementIt's also possible that after airfare prices plummeted due to the pandemic, 2022's swift rise in airfares caught Americans off guard.

Persons: —, airfares, Scott Keyes, Mike Daher, It's, Keyes, Biden, Kerry Tan, they've, haven't, Tan, Tan, there's, airfare, Hayley Berg, Hopper's, NerdWallet Organizations: Service, Bureau of Transportation Statistics, Business, Deloitte, Gallup, JetBlue, Spirit Airlines, Department of Transportation, TSA, Loyola University Maryland, Delta, of Transportation, Airlines for America, Southwest, Spirit, United, Biden Administration, The Airlines Locations: United, America

☆ Roche alleges counterfeit diabetes medical devices were sold on Amazon
▼ + stars: | 2024-06-10 | by ( Scott Zamost | ) www.cnbc.com time to read: +4 min

Roche Diabetes Care Inc. Accu-Chek brand glucose test strips are arranged for a photograph in the Brooklyn borough of New York, U.S., on Thursday, April 4, 2019. Roche , one of the world's largest biotech companies, said "dangerous counterfeits" of its diabetes medical devices ended up for sale on Amazon to be bought by patients throughout the United States. "Patients know that Roche's Accu-Chek medical devices are safe, sterile and accurate," the complaint said. After the suit was filed, a judge granted Roche's request for a temporary restraining order to stop the defendants from selling the counterfeit products. The complaint was filed on behalf of Roche Diabetes Care Inc., Roche Diabetes Care GmbH and Hoffmann-La Roche Inc, by attorneys with the New York-based law firm Patterson Belknap Webb & Tyler.

Persons: Roche, Patterson Belknap Webb, Tyler, Dileep Kumar Yadav, Abhishek Jain, Ratnakar Sharma, Atikur Rahman Organizations: Roche Diabetes Care Inc, Amazon, CNBC, Roche Diabetes Care GmbH, Hoffmann, Roche Inc, New, JMD Enterprises, JMD, JMD International Locations: Brooklyn, New York, U.S, United States, India, New York City

☆ Opinion: The elements for a big stock market drop are aligning. Here’s why investors shouldn’t panic
▼ + stars: | 2024-06-10 | by ( Scott Nations | ) www.cnbc.com time to read: +2 min

When is the next stock market crash taking place? It's a question I get asked often since I wrote "A History of the United States in Five Crashes – Stock Market Meldowns That Defined a Nation." Until now, I've always been able to counsel that stock market crashes are comfortingly rare events that only occur when elements align, and that a crash is unlikely in the near future. The first is a frothy stock market. It is no accident that the first modern stock market crash, the Panic of 1907, occurred after the biggest two-year rally in the history of the Dow Jones Industrial Average .

Persons: I've, It's, it's Organizations: Dow Jones, Federal Reserve, San Locations: United States, San Francisco

☆ Regional banks can 'earn their way out of risk' from commercial real estate: Janney's Chris Marinac
▼ + stars: | 2024-06-10 | 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 EmailRegional banks can 'earn their way out of risk' from commercial real estate: Janney's Chris MarinacChris Marinac, director of equity research at Janney Montgomery Scott, joins CNBC's 'The Exchange' to discuss why he disagrees with Moody's downgrade of some regional banks, how investors can position, and more.

Persons: Chris Marinac Chris Marinac, Janney Montgomery Scott

☆ Watch Monday's full episode of the Halftime Report — June 10, 2024
▼ + stars: | 2024-06-10 | 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 EmailWatch Monday's full episode of the Halftime Report — June 10, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.

Persons: CNBC's Scott Wapner Organizations: CNBC PRO

☆ FDA advisers say Eli Lilly Alzheimer's treatment is effective
▼ + stars: | 2024-06-10 | 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 EmailFDA advisers say Eli Lilly Alzheimer's treatment is effectiveDr. Scott Gottlieb, Former FDA Commissioner, joins 'Closing Bell Overtime' to talk news that the FDA has deemed Eli Lilly's Alzheimers treatment as effective.

Persons: Eli Lilly Alzheimer's, Scott Gottlieb, Eli Lilly's Organizations: FDA

☆ South Dakota Gov. Kristi Noem says Trump choosing a woman VP would help him win
▼ + stars: | 2024-06-09 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

South Dakota Governor Kristi Noem speaks at the NRA-ILA Leadership Forum during the National Rifle Association (NRA) annual convention in Houston, Texas, U.S. May 27, 2022. South Dakota Gov. "But I'm in Wisconsin because I believe President Trump needs to win." Doug Burgum, Florida Sen. Marco Rubio, South Carolina Sen. Tim Scott and Ohio Sen. JD Vance. I love my job in South Dakota," Noem said Sunday about those reports.

Persons: Kristi Noem, Donald Trump's, Noem, Trump, Joe Biden, Jean Carroll, Stormy Daniels, Noem's, Doug Burgum, Florida Sen, Marco Rubio, Marco Rubio , South Carolina Sen, Tim Scott, Ohio Sen, JD Vance Organizations: NRA, ILA, National Rifle Association, South Dakota Gov, Quinnipiac University, GOP, Trump, NBC News, North Dakota Gov, Ohio, Cricket Locations: Houston , Texas, U.S, Wisconsin, New York, Florida, Marco Rubio , South Carolina, South Dakota

☆ India beat Pakistan by six runs in thrilling T20 Cricket World Cup match in New York
▼ + stars: | 2024-06-09 | by ( Charlie Scott | ) www.nytimes.com time to read: +4 min

India beat Pakistan in dramatic fashion in their T20 Cricket World Cup match in New York, despite setting their biggest rivals a target of just 120 runs at the Nassau County International Cricket Stadium. It was their lowest-ever run total in a men’s T20 Cricket World Cup match, which is the shorter format of the sport where each team has one innings of up to 20 overs (an over is six balls). Jasprit Bumrah led India’s fightback, taking three wickets for only 14 runs as Rohit Sharma’s team battled their way to victory. Pakistan needed 18 runs to win off the final over of the game but could only score 11 as they fell six runs short. This is the first time the USA have competed in the T20 World Cup.

Persons: Haris Rauf, Naseem Shah, Jasprit Bumrah, India’s fightback, Rohit Sharma’s, Alex Davidson, Bumrah, Sharma, ”, “ Organizations: Cricket, Nassau County International Cricket, International Cricket, ICC, Getty, “, Ireland, India, USA, Canada, Pakistan Locations: India, Pakistan, New York, Long, United States, Grand Prairie , Texas, York, USA, Canada

☆ Buying a house of ‘Home Alone’ or John Lennon fame? There's a premium for that
▼ + stars: | 2024-06-09 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

However, that premium is hard to quantify since some uber-wealthy buyers will pay almost anything to own a piece of pop culture, according to real estate experts. "It's like owning a Picasso" or a Fabergé egg, said Tomer Fridman, a real estate agent based in Los Angeles who specializes in luxury and celebrity homes. An offer is pending on that home and was made within a week of being on the market, said Andrea Gillespie, a spokesperson for Coldwell Banker Real Estate. Infamy sells, tooInfamy can also fetch a higher price, said Arto Poladian, a Redfin luxury real estate agent in Los Angeles. Tomer Fridman luxury real estate agentSometimes, even being in the vicinity of a famous residence can help, he added.

Persons: Erin Hooley, Tomer Fridman, Fridman, Marilyn Monroe, Sylvester Stallone, Kylie Jenner, Travis Scott, Amanda Pendleton, Carlos Avila Gonzalez, Andrea Gillespie, John Lennon, Yoko Ono's, it's, —, Philip Norman, Bob Saget, John Stamos, Arto Poladian, Poladian, Charles Manson's, Leno, Rosemary LaBianca, There's, Pendleton, Brady Organizations: Chicago Tribune, Tribune, Service, Getty, San Francisco, Coldwell Banker, New York Times, Buyers Locations: Los Angeles, Chicago, loos, City , California

☆ Rex Heuermann: Inside the document prosecutors say the accused Gilgo Beach serial killer used to ‘plan out his kills’
▼ + stars: | 2024-06-09 | by ( Ramon Sanchez | Ray Sanchez | ) edition.cnn.com time to read: +9 min

Details of the content of the document come from the latest bail application from prosecutors. DNA evidence initially linked him to a hair found on the burlap sack where Waterman’s remains were found. The 60-year-old architect was surprised by the latest charges, Heuermann attorney Michael Brown said after the defendant appeared in an eastern Long Island courtroom. The bail application said a tattoo on Taylor’s torso had been mutilated with a sharp object. It recommended the use of heavier rope since lighter types “broke under the stress of being tightend,” the bail application said.

Persons: Rex Heuermann, “, ” criminologist, Scott Bonn, Heuermann, Jessica Taylor, Sandra Costilla, “ I’ve, Raymond Tierney, ”, Casey Jordan, ” “, ” ‘, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes –, ” Heuermann, ” Tierney, Taylor, Costilla’s, Michael Brown, Brown, ” Brown, Tierney, ” Jordan, “ Heuermann, Dennis Rader, Rader, “ We’re, We’re, Said Jordan, ” CNN’s Mark Morales, Brynn Gingras, Carolyn Sung, Samantha Beech Organizations: CNN, Long, Heuermann, Force, ”, Cub Scout Locations: New York, ” Suffolk County, Bonn, Manhattan, Long, ” Bonn, Suffolk County

☆ Stock market heads into the week ahead at a record, but with some uneasiness underneath the surface
▼ + stars: | 2024-06-08 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The S & P 500 made a new record high, its 25 th of the year. And on the surface, there is a stolid calm that suggests a system in comfortable equilibrium, the market achieving a kind of homeostasis. Four of the past five days last week, the S & P 500 moved less than 0.2%. The S & P 500 is up almost 2% since its closing peak at the end of the first quarter, perhaps the moment of maximum belief in a seamless soft economic landing. Three stocks together now account for fully 20% of the S & P 500 market value, mocking the notion of diversification and dashing most active investors' hopes of beating the bogey.

Persons: Keith Gill, Michael Mauboussin, Scott Chronert Organizations: Nvidia, GameStop, Apple, Microsoft, Federal Reserve, Investment, Morgan Stanley Investment Management, Fed, Citi, CPI Locations: rebalancing, U.S

☆ Netflix may have hurt itself in the 'Baby Reindeer' lawsuit with one line in the opening episode, attorneys say
▼ + stars: | 2024-06-08 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +7 min

That's according to two entertainment lawyers who told Business Insider Netflix may have made several mistakes that could work in Harvey's favor. Dunn is based on Gadd, who has said the show depicts a real-life experience in which he was stalked early in his career. Jessica Gunning as Martha Scott in "Baby Reindeer" and Fiona Harvey on "Piers Morgan Uncensored." "What's been borrowed is an emotional truth, not a fact-by-fact profile of someone," Gadd told GQ. AdvertisementHowever, in her lawsuit, Harvey claims that she and the Martha character several similarities, including their gender, age, nationality, and profession.

Persons: —, Fiona Harvey, Martha Scott, Richard Gadd, Donny Dunn, Dunn, Gadd, Piers Morgan, Harvey, Richard Gadd's, Tre Lovell, Lovell, Jessica Gunning, Mills Sadat Dowlat, Harvey Gadd, Martha, What's, Dowlatshahi, Netflix Harvey, Netflix Dowlatshahi, Rudy Giuliani Organizations: Service, Netflix, Business, BI, Guardian Locations: Scottish, Los Angeles, Georgia

☆ GM has a secret to help sell its new EVs. It's Costco
▼ + stars: | 2024-06-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

Costco Auto has facilitated more than 500,000 vehicle sales annually over the past five years on average, according to Jay Maxwell, Costco Auto Program general manager responsible for strategic partnerships. GM declined to disclose how many Costco customers have purchased GM vehicles through the program. EV interestA growing number of vehicle sales made through Costco Auto are of electric vehicles, Costco said. In addition to GM, Costco Auto has partnered with Volvo, including its Polestar EV startup brand, Audi and others over the years. The Costco Auto Program was initially part of wholesale competitor Price Club, which merged with Costco in 1993.

Persons: Kena, Motors, it's, Marissa West, Michael Wayland, Jay Maxwell, Maxwell, Mary Barra, That's, Cox, Scott Mlyn, Julie Craig, –, Melissa Repko Organizations: Costco, Corbis, Getty, DETROIT —, Costco Wholesale, Detroit automaker, Costco Auto Program, EVs, Chevrolet, Chevrolet Blazer, GM North America, CNBC, U.S, Costco Auto, Canada, Ford Motor, Volkswagen, Brands, Lithia Motors, AutoNation, GM, EV, Volvo, Audi, CNBC Costco Auto, Cadillac, Industry, Cox Automotive, Dealers, New York Auto Show, Price Club Locations: Teterboro , New Jersey, CNBC, U.S, Detroit, Canada

☆ ‘Baby Reindeer:’ Netflix to fight Fiona Harvey’s $170 million damages claim
▼ + stars: | 2024-06-07 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +3 min

“Baby Reindeer” has topped most-watched lists worldwide since its debut in April, generating headlines and speculation about the characters and who inspired them. Her complaint lists Netflix and Netflix Worldwide Entertainment as defendants. The document alleges that the defendants and Gadd told the “biggest lie in television history” by claiming the story is true. In an essay for Netflix, he said the situation was “messy” and “complicated,” but he believed the story needed to be told. In the complaint, Harvey said within a few days of the show airing she began to receive messages, including death threats, identifying her as Gadd’s alleged stalker.

Persons: ” Fiona Harvey, Richard Gadd, Harvey, sleuths, Martha Scott, ”, Piers Morgan, Gadd, Donny Dunn, “, …, Richard Gadd’s, ” Gadd, Jessica Gunning, Ed Miller, Scott, “ It’s Organizations: CNN, Netflix, Court, Central, Central District of, YouTube, Entertainment, Edinburgh Fringe, Guardian Locations: Scottish, Central District, Central District of California, London

☆ The woman who says she's the real-life version of Martha on 'Baby Reindeer' just sued Netflix for $170 million
▼ + stars: | 2024-06-07 | by ( Meghan Morris | ) www.businessinsider.com time to read: +3 min

Read previewFiona Harvey, the woman who says she's the real version of the semi-fictionalized stalker in the Netflix hit "Baby Reindeer," is suing the streaming giant. Harvey, a 58-year-old Scot, filed a lawsuit on Thursday in California, seeking more than $170 million and a jury trial. She's accusing Netflix of defamation and intentional affliction of emotional distress, among other points. She hasn't sued the show's creator and star, Richard Gadd, who plays a fictional version of himself named Donny Dunn. AdvertisementThe real Martha ScottAs the show picked up viewers, armchair sleuths raced to find the "real" stalker, named Martha Scott in the show, and the man who Gadd said abused him.

Persons: —, Fiona Harvey, Harvey, Scot, hasn't, Richard Gadd, Donny Dunn, Gadd, Richard Gadd's, Martha Scott, sleuths, GQ, What's, " Gadd, Harvey's, she's, Piers Morgan Organizations: Service, Netflix, Business Locations: California, Scottish, London

☆ These outperforming stocks are still set to soar, analysts say, giving one 52% upside
▼ + stars: | 2024-06-07 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The year has reached its halfway mark — and stocks are still adding on to gains. The S & P 500 hit yet another fresh record on Wednesday , as did the Nasdaq Composite. That brings the S & P 500 to gain 12.93% year-to-date. Some say the U.S. Federal Reserve could be forced to hold off on interest rate cuts if inflation is sticky. "We believe the likely main volatility trigger is still the timing of potential Federal Reserve interest-rate cuts."

Persons: Scott Wren, Wren, Schroders, Jason Yu Organizations: Nasdaq, U.S . Federal, Wells, Wells Fargo Investment Institute, CNBC Locations: Wells Fargo, Asia

☆ Watch Friday's full episode of the Halftime Report — June 7, 2024
▼ + stars: | 2024-06-07 | 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 EmailWatch Friday's full episode of the Halftime Report — June 7, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.

Persons: CNBC's Scott Wapner Organizations: CNBC PRO

☆ The Fed's rate decision and May inflation data will be key tests for the stock market next week
▼ + stars: | 2024-06-07 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

The next rate decision from the Federal Reserve coupled with May inflation data, both on Wednesday, will play key roles in how stocks perform next week — quite probably lending added volatility to an already jittery market. The Fed's rate decision All eyes are on the Fed next week and its rate decision that's set to come down at 2 p.m. Wednesday. But investors have tempered expectations since then amid a spate of stubborn inflation data. That makes May's consumer price index report due out before the bell Wednesday another key focal point for investors. Economists polled by Dow Jones are bracing for the consumer price index to rise 3.4% year over year and 0.1% on a monthly basis.

Persons: nonfarm, Kathryn Kaminski, Scott Wren, they've, it's, Tony Roth, Envestnet's Dana D'Auria, D'Auria, Dow Jones, Wells, Wren, John Belton, Apple, Jerome Powell, John Wiley Friday Organizations: Federal, Nvidia, Apple, Microsoft, GameStop, Dow, AlphaSimplex Group, Fed, Federal Open Market, European Central Bank, European Union, Wells Fargo Investment, Wilmington Trust's, CPI, Apple's Worldwide, Broadcom, Dave, Treasury, Signet Jewelers, University of Michigan Locations: Wells Fargo, Cupertino , California

☆ Tim Scott launches multimillion dollar outreach effort to get Black and Latino voters to support the GOP
▼ + stars: | 2024-06-06 | by ( Kit Maher | Eva Mckend | ) edition.cnn.com time to read: +7 min

CNN —South Carolina Sen. Tim Scott, a contender to be former President Donald Trump’s running mate, is launching a multimillion dollar effort to recruit Black voters to support Republicans in 2024. And that translates into a lot of ticked off people who are looking at the Republican Party,” he said. Trump won roughly 1 in 10 Black voters nationally in 2020, according to multiple estimates, including 12% in CNN’s exit poll. In the same survey, 14% of Black voters said that if the election were held today, they would vote for Trump vs. 49% for Biden. As CNN’s Kevin Liptak reported last week, Biden’s aides say they aren’t taking Black voters for granted as surveys suggest an erosion of support, particularly among Black men.

Persons: South Carolina Sen, Tim Scott, Donald Trump’s, Scott, Trump, Biden, ” Scott, “ It’s, ”, aren’t, “ I’ve, we’re, “, ‘, I’m, ’ ” Scott, ” Trump, Kevin Liptak, Biden’s, ” Jennifer DeCasper, ” DeCasper, CNN’s Jennifer Agiesta Organizations: CNN, South, GOP, Great Opportunity PAC, Republican National Committee, Republican, Trump, Republican Party, Black Colleges, Universities, Act, Detroit, Biden, New York Times, Siena College, Black, Trump . Younger, Fox News Locations: South Carolina, Michigan, North Carolina , Georgia, Arizona , Nevada, Pennsylvania, Washington ,, Milwaukee, Philadelphia, Atlanta, Bronx, Siena, CNN’s

☆ Get ready to make less money off your investments, says a private equity executive
▼ + stars: | 2024-06-06 | by ( Meghan Morris | ) www.businessinsider.com time to read: +1 min

Apollo's Scott Kleinman warned of a "dry spell" for investors as deals from a friendlier era unwind. Managers must adjust financial projections from deals done in the zero-interest rate era. AdvertisementA leading private equity executive just warned that investors are in for a "pretty dry spell for a few years." "I'm here to tell you everything is not going to be OK," Scott Kleinman, the co-president of Apollo Global Management, said at a session during Berlin's SuperReturn International conference on Wednesday. Managers have to adjust their financial projections for deals struck in the looser world of zero interest rates, when financing was cheap and consumers spent more.

Persons: Apollo's Scott Kleinman, —, Scott Kleinman, Berlin's Organizations: Investors, Service, Apollo Global Management, Business

☆ A mysterious Jupiter-sized planet that shouldn't exist is as puffy as a marshmallow and astronomers finally think they know why
▼ + stars: | 2024-06-06 | by ( Ellyn Lapointe | ) www.businessinsider.com time to read: +10 min

WASP 107b: The exoplanet that shouldn't existAn artist's impression of WASP 107b passing in front of its host star. But models suggested that WASP 107b's core would be too small to have formed a gas giant. Scientific models didn't align with observationsHubble images of WASP 107b didn't solve the mystery of its large size and low density. Venom82Why it took astronomers years to understand WASP 107b's mysterious origins stems from what many astronomers face: a lack of information due to technological limits. But WASP 107b's surface temperature was cold enough that it should have had more methane than what JWST observed.

Persons: —, they've, it's, David Sing, NASA's, Luis Welbanks, Sagan, James Webb, Welbanks —, Sing, Welbanks, Ralf Crawford, we're, Scott Gaudi, Gaudi, Olmsted, Russo Organizations: Service, Business, ESA, Hubble, NASA, Kornmesser, Bloomberg, Johns Hopkins University, WASP, NASA's Goddard Space Flight, ESO, Arizona State University, Telescope, Sing, WASP 107b's, CSA, JHU, Ohio State University

☆ Lawyer claims alleged 'Baby Reindeer' stalker Fiona Harvey became obsessed with her after they worked together
▼ + stars: | 2024-06-06 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +3 min

Read previewA British lawyer has claimed that the alleged "Baby Reindeer" stalker Fiona Harvey was obsessed with her for years, longer than actor Richard Gadd. "Baby Reindeer" is based on the experiences of Gadd, who plays Donny Donn, with a stalker several years ago. Wray told Business Insider Harvey harassed her from around October 1997 to May 2002. She was inappropriate with a male member of staff," Wray told Morgan. Wray claimed Harvey went on to harass her by leaving her threatening voicemail messages every day.

Persons: —, Fiona Harvey, Richard Gadd, Gadd, Donny Donn, Martha Scott, Harvey, Piers Morgan, Laura Wray, Wray, Morgan Organizations: Service, Times, Business, Social, Netflix, Lawrence Solicitors Locations: British

☆ Watch Thursday's full episode of the Halftime Report — June 6, 2024
▼ + stars: | 2024-06-06 | 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 EmailWatch Thursday's full episode of the Halftime Report — June 6, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.

Persons: CNBC's Scott Wapner Organizations: CNBC PRO

OpenAI CEO Sam Altman (L) speaks with Microsoft Chief Technology Officer and Executive VP of Artificial Intelligence Kevin Scott during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024. The Federal Trade Commission and the Justice Department are set to open antitrust investigations into Microsoft , OpenAI and Nvidia , examining the powerful companies' influence on the artificial intelligence industry, a source familiar confirmed to CNBC. The FTC will take the lead on looking into Microsoft and OpenAI, while the DOJ will focus on Nvidia, and the investigations will focus on the companies' conduct, rather than mergers and acquisitions, according to the source. The news also follows the FTC's January decision to conduct an extensive study on AI industry heavyweights, including Amazon , Alphabet , Microsoft, Anthropic and OpenAI. Microsoft and OpenAI did not immediately respond to requests for comment.

Persons: Sam Altman, Kevin Scott, Anthropic, Claude chatbots, that's, Lina Khan, Khan, OpenAI, — CNBC's Eamon Javers Organizations: Microsoft Chief Technology, Artificial, Microsoft, Federal Trade Commission, Justice Department, Nvidia, CNBC, FTC, DOJ, New York Times, Google, Meta Locations: Redmond , Washington

☆ Johnson Names Hard-Right Trump Allies to Intelligence Panel, Prompting Concerns
▼ + stars: | 2024-06-06 | by ( Luke Broadwater | ) www.nytimes.com time to read: +1 min

Speaker Mike Johnson has appointed two outspoken hard-right allies of former President Donald J. Trump with major ethical and legal issues to the House Intelligence Committee, prompting criticism from members of both parties. Mr. Johnson on Wednesday installed Representatives Scott Perry of Pennsylvania, the former chairman of the right-wing House Freedom Caucus, and Ronny Jackson of Texas, Mr. Trump’s former White House doctor, on the panel. Mr. Perry played a major role in Mr. Trump’s efforts to overturn the 2020 election and has faced legal issues over his actions. The panel has historically operated in a bipartisan manner, and is largely composed of serious-minded lawmakers rather than strident partisans. The break with tradition prompted fears that the intelligence community might pull back on the sensitive national security information it shares with Congress.

Persons: Mike Johnson, Donald J, Johnson, Scott Perry, Scott Perry of Pennsylvania, Ronny Jackson of, Trump’s, Perry, Jackson, Michael R, Turner, Jim Himes Organizations: Trump, House Intelligence, Wednesday, Caucus, White House, White, Republican Locations: Scott Perry of, Ronny Jackson of Texas, Ohio, Jim Himes of Connecticut

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