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He said a boost from the weak yen to exports has faded as the Japanese currency rebounded sharply in August. Total exports rose 5.6% year-on-year in August, up for a ninth straight month, data showed on Wednesday, well below a median market forecast for a 10% increase and following a 10.3% rise in July. Exports to the United States dipped 0.7%, the first monthly decline in nearly three years, as auto sales slumped 14.2%. Those to China, Japan's biggest trading partner, rose 5.2% in August from a year earlier. The value of imports grew 2.3% in August from a year earlier, versus a 13.4% increase expected by economists.
Persons: Takeshi Minami Organizations: Asahi, Co, Bloomberg, Getty, U.S, Norinchukin Research Locations: Hekinan, Aichi Prefecture, Japan, U.S, China, United States
The corporate supply chain team for Sam's Club is merging with that of its parent company, Walmart. In a memo, Walmart's head of supply chain operations said the move will aid growth. A spokesperson told BI the plan gives Sam's Club better access to resources and job cuts aren't expected. AdvertisementSam's Club's corporate supply chain team is merging into the supply chain team of its parent company, Walmart, according to a memo obtained by Business Insider. "This is a big step in our growth journey, bringing together a supply chain that is future-ready to serve both Sam's Club and Walmart for the long-term," he said.
Persons: , Walmart's, David Guggina Organizations: Sam's, Walmart, Service, Business, Sam's Club
Traders see heightened odds of a big initial rate cut from the Federal Reserve this week. As markets price in rising odds of a 50 basis point cut, the Fed may be more likely to deliver, BMO's Ian Lyngen says. He says markets pricing an 80% chance of a big rate cut could sway the Fed. AdvertisementInvestors have been pricing in rising odds of a 50 basis point interest rate cut from the Federal Reserve. And as the market increasingly positions for a jumbo cut, the Fed may be more likely to deliver, according to BMO's head of US rates strategy Ian Lyngen.
Persons: BMO's Ian Lyngen, , Ian Lyngen, we'll, Lyngen Organizations: Federal Reserve, Service, Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman Sachs' Jonny Fine says the Fed hasn't done enough in 'destigmatizing' a 50-basis-point cutJonny Fine, Goldman Sachs global head of investment grade debt, joins 'Squawk on the Street' to discuss his expectations from the Fed, why he supports a 25-basis-point rate cut, and more.
Persons: Goldman Sachs, Jonny Fine
Why do you think that's the case? Have you thought about how you're going to handle people saying that the election was fraudulent? Related storiesIt's not what gets talked a lot about, but that's actually what users experience. But there's going to be people who go, "What happened to so-and-so conspiracy theorist? I'd heard, and I think there's been some reporting out that you guys made an offer for that package.
Persons: We've, Neal Mohan, Mohan, , Snapchat, they're, we've, They're, it's, Donald Trump, that's, Rudy Giuliani, what's, I've, I'd, there's Organizations: Service, YouTube, Google, CNN, New York Times, Fox News, ABC, Elon Musk, Twitter, NBA, Warriors Locations: India
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email50bps cut leaves room to 'apply the brakes' if necessary, says The Wall Street Journal's Greg IpGreg Ip, The Wall Street Journal’s chief economics commentator and deputy economics editor, joins ‘The Exchange’ to discuss how he would approach rate cuts, the state of the economy, and more.
Persons: Greg Ip Greg Ip
And an expert in political violence and terrorism is worried the worst is yet to come. The justification of political violence online is getting worse, too, with increasingly high-profile people laughing off violent incidents. Plenty of such data exists about Trump's rhetoric, Pape noted, and he said there is no doubt that "incendiary political rhetoric increases support for political violence." "What you're seeing is real-world violence reflecting this significant rhetorical support for political violence on both the right and the left," Pape said. "There is an incentive to do what we know stokes support for political violence.
Persons: , Robert Pape, Pape, Nancy Pelosi's, Barack Obama's, Donald Trump's, Steve Scalise, Elon Musk, Sunday's, Trump, haven't, Joe Biden, Kamala Harris, Musk, snickering, " Pape, he's, Biden, stokes Organizations: Service, World Justice, Democratic, GOP, Business, Democrat, Republican, Marist, PBS, Chicago Project, Security, University of Chicago, Department of Justice, Congressional, Trump, Republicans Locations: Louisiana, Butler , Pennsylvania,
CNN —Harvey Weinstein has pleaded not guilty to one count of a criminal sex act in the first degree after he was indicted by a grand jury earlier this month. The indictment was unsealed after it was initially announced during a court hearing last Thursday. An attorney for the woman whose grand jury testimony served as the basis of the new indictment said she intends to testify at trial. Prosecutors in New York began presenting the case to the grand jury in August. His conviction was overturned by the New York Court of Appeals in April, citing violation of Weinstein’s constitutional rights at trial.
Persons: CNN — Harvey Weinstein, Weinstein, Prosecutors, “ Ms, Doe, ” Lindsay M, Jane Doe, which, Harvey, ” Juda, ” Weinstein Organizations: CNN, Prosecutors, New York, New, Appeals Locations: New, Los Angeles
When I was in my mid-30s and working in the corporate world, I thought that 55 would be a good age to retire. Now I'm 62, and I have no plans to retire, despite the fact that friends and even my wife are stepping back from their long-term careers. I focus on the parts of work that bring me joyBecause I own my own business, I have a lot of control over my working environment. I've carefully selected employees who can keep things running even when I'm away from work. When I'm traveling, I'm entirely unplugged, able to join Kate in her retirement mindset.
Persons: David B, Horne, I'm, they've, Kate, we've, I've Organizations: Service, Business Locations: Greece, Canada
What Visual Evidence Shows About Israel’s Pager Attacks
  + stars: | 2024-09-18 | by ( ) www.nytimes.com   time to read: 1 min
This blast ripped through a customer’s satchel, and he fell to the ground groaning in pain. Shortly beforehand, thousands of Hezbollah members received pager messages that appeared to come from their leaders, according to two officials familiar with the attack. The devices beeped — and then blew up. The pagers appear to have been packed with explosives in what Lebanese and Iranian officials say was an Israeli operation.
Persons: satchel
The International Brotherhood of Teamsters on Wednesday announced it will not formally endorse a candidate in the 2024 presidential election, ending months of speculation about whether the labor union would back Republican Donald Trump or Democrat Kamala Harris. With 1.3 million members, the Teamsters union is one of the largest labor groups in the country. "As the strongest and most democratic labor union in America, it was vital for our members to drive this endorsement process. In a national survey of Teamsters members conducted after the Sept. 10 presidential debate, union members overwhelmingly backed Trump over Harris, 58% to 31%, according to results published by the union ahead of its formal endorsement. "'Right to work' laws only exist to try to kill labor unions," Teamsters General Secretary-Treasurer Fred Zuckerman said in the statement.
Persons: Sean O'Brien, Republican Donald Trump, Kamala Harris, Harris, O'Brien, it's, Trump, Joe Biden, Biden, Fred Zuckerman, O'Brien —, Lauren Hitt Organizations: International Brotherhood of Teamsters, UPS Teamsters, UPS, Brotherhood of Teamsters, Wednesday, Republican, Trump, Teamsters, Big, Democratic, Republican National Convention, Republicans, Independents, International Union, Railway Labor, Union, Democratic National Convention, RNC, CNBC, New York City Locations: Brooklyn , New York, America, New York
New York CNN —Boeing is temporarily furloughing executives and other nonunion workers to save cash during the strike by 33,000 members of the International Association of Machinists, CEO Kelly Ortberg told employees in an email Wednesday. The strike started early Friday morning. “We will not mince words - after a full day of mediation, we are frustrated,” the union said in a note to members. The company doesn’t seem to be taking mediation seriously.”A Boeing spokesman did not comment on details of the discussions. “We will continue to transparently communicate as this dynamic situation evolves and do all we can to limit this hardship.”
Persons: Kelly Ortberg, , Ortberg, , ” Ortberg Organizations: New, New York CNN, Boeing, International Association of Machinists Locations: New York, South Carolina
At the end of Tuesday's Snap Partner Summit keynote, CEO Evan Spiegel introduced a major upgrade to the company's augmented reality glasses. AdvertisementHe added, "AR glasses have see-through lenses. SnapAlthough Spiegel threw shade at headset rivals, Snap will have a lot to prove in the smart glasses space. The glasses Snap unveiled are cordless, unlike the Vision Pro headset. The Quest 3 completely covers the eyes, but Spiegel said Spectacles have see-through lenses that become tinted in sunlight.
Persons: , Evan Spiegel, you've, Spiegel, Snap, Leo Gebbie Organizations: Service, Business, Meta, Reality Labs, CCS Insight, CNBC, Vision, VR
Read previewThe bosses of big US companies are over hybrid work. Adding to the anti-remote vibes: a new snapshot of CEO sentiment that shows Jassy isn't alone in saying "so long, hybrid." About one in three CEOs said retirements and a lack of skilled replacements would have a big effect on their company. Only 54% of CEOs reported that their companies were "well-prepared" for a cyber attack. "The people that have generative AI and AI skills are going to have a big advantage in the marketplace over those that don't," he said.
Persons: , Andy Jassy, Jassy isn't, Paul Knopp, Amazon's, Knopp, there's, I'm, Nicholas Bloom, Bloom, Z, GenAI, what's Organizations: Service, Amazon, KPMG US, Business, IRL, Stanford, BI, GenAI Locations: upskilling
Yen carry trade unwind is not done yet, says strategist
  + stars: | 2024-09-18 | 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 EmailYen carry trade unwind is not done yet, says strategistFrancis Tan of CA Indosuez Wealth Management says the the yen is still undervalued versus the U.S. dollar, adding that he sees more room for further appreciation of the Japanese currency.
Persons: Francis Tan of Organizations: Francis Tan of CA Indosuez Wealth Management, U.S . Locations: Francis Tan of CA
London CNN —Against the backdrop of a challenging economic outlook for many brands — big and small — the 40th anniversary of London Fashion Week last week was certainly a time for reflection. Even Carly Marks, founder of avant-garde New York label Puppets and Puppets, chose London this season. But all eyes were on Burberry, undoubtedly the biggest brand on the London Fashion Week schedule, yet one that has been battling against sharply declining profits. To see the best bits of London Fashion Week, keep scrolling. Talia ByreErdem Jason Lloyd EvansSophistication, elegance and femininity were key themes at TOVE's third show at London Fashion Week.
Persons: Jonathan Anderson, JW Anderson, , Anderson, Victoria Beckham, Christopher Kane, Halpern, Molly Goddard, Rejina Pyo, hasn’t, David Koma, Daley, Queen Elizabeth II, Daley didn’t, Harry Styles, Anna Wintour, Emma Corrin, Nensi Dojaka, Carly Marks, Daniel Lee’s, It’s, Talia Byre, Sinead O’Dwyer, Ancuta Sarca, Paolo Carzana, Simone Rocha, Aaron Esh, Richard Quinn, Adonis, Di, Simone Rocha mused, Olsen, Chopova, JW Anderson Girliness, Simone Biles, Jordan Biles, Rebecca Andrade, Kamala Harris ’, America’s, , Erdem, Marguerite Antonia Radclyffe Hall, John, Chopova Lowena, ruffles, Victor Virgile, Yuhan Wang, Olu Ogunshakin, Chris Yates, Talia Byre’s, Alaia Ali, Jane Couch, Bridget Riley, Wang, “ I’m, John Phillips, Alexander McQueen, Vivienne Westwood, John Galliano, Stella McCartney, , Chet Lo, Dojaka, Calvin Klein, Hubert de Givenchy, Barry Keoghan, Dave Benett, Burberry Olivia Colman, Burberry, Burberry Burberry, James Manning, Isidore Montag, Daniel Lee's, Steven Stokey, womenswear, Francisco Gomez de Villaboa, Cris Fragkou SS Daley, Cris Fragkou HARRI, Eamonn M . McCormack, HARRI didn't, Joe Maher, James Mason, James Mason Quinn's, James Mason Erdem, suiting, Jason Lloyd Evans Moralıoğlu’s, Jason Lloyd Evans, Jason Lloyd Evans Chopova Lowena, Lowena, Hellman's, Marco Capaldo, 16Arlington, Arlington Dianna Agron, Lily Bloom, Dave Bennett, CompletedWorks, Ben Broomfield, Ben Broomfield Natasha Zinko's, Zinko, Stefan Knauer, Aldama, Ik Aldama, Henry Nicholls, Bella Hadid, Rihanna, Crocs, Francesco Zinno Talia Byre, Talia Byre Byre, Jeff Spicer Organizations: London CNN —, London, New York, Burberry, National Theatre, Royal Academy, Emirates, JW, Olympics, Erdem, Chris Yates Media, Arsenal, Pan, CNN, Getty, JW Anderson Lingerie, Clarks, London Fashion Locations: London, British, S.S, Italian, Di Petsa, Arlington, America, Dorchester, The Dorchester, Bloomsbury, AFP
CNN —The Champions League returned on Tuesday with a bang. Bayern beat Dinamo Zagreb of Croatia 9-2 at Allianz Arena, becoming the first team in Champions League history to score nine goals in a single match. “What were my chances of setting foot even in the Premier League, playing in the Premier League, winning something as a player, playing for the national team? Kylian Mbappé opened his Champions League account for Real, scoring just after half-time before Deniz Undav equalized for the German side. It was the first game in Champions League history to feature five US players, per Goal.com.
Persons: Vincent Kompany, Striker Harry Kane, Michael Olise, Frenchman, Thierry Henry, Raphaël Guerreiro, Leroy Sané, Leon Goretzka, Daniel Kopatsch, Kompany –, Premier League –, , ” Kompany, “ I’m, , Frank Hoermann, SVEN SIMON, Kylian Mbappé, Deniz Undav, Antonio Rüdiger, Endrick’s, Raúl, Carlo Ancelotti, ” Ancelotti, “ Endrick, Endrick, Thomas Coex, Weston McKennie, McKennie, Tim Weah, Malik Tillman, Richard Ledezma, Ricardo Pepi, Christian Pulisic, Pulisic’s, Ibrahima Konaté, Virgil van Dijk, Dominik Szoboszlai, Zeno Debast, Viktor Gyökeres ’, Angel Gomes, Debast’s, Gualter Fatia Organizations: CNN, Champions League, European soccer’s, Bayern Munich, Bundesliga, Bayern, Dinamo Zagreb, Allianz Arena, UEFA, Anorthosis Famagusta, League, Borussia Dortmund’s, Legia Warsaw, English, Burnley, Premier League, Real, Real Madrid, Blancos, Stuttgart, Getty, American, Juventus ’, PSV Eindhoven, Juventus, PSV, AC Milan, Liverpool, San, Sporting CP’s, Lille, Sporting, Sporting CP, PSV Eindhoven Young Boys, Aston Villa Bayern Munich, Dinamo Zagreb AC Milan, Liverpool Real Madrid, VfB Stuttgart Sporting CP Locations: European, Croatia, Brussels, Congo, Belgium, Madrid, AFP, San Siro, Milan, Lisbon, Lille, Debast
"We estimate that Brent could fall to roughly $50 per barrel in a moderate [U.S.] recession … We have a fairly benign view on the global economy," Struyven said during the conference. en Luckock global head of oil at Trafigura"Things are slowing down. Trading Giant Trafigura raised concerns about China's weak demand, and the global oil consumption tied to it. China's slowdown has spurred some to scour for alternative oil demand drivers, with a few eyeing India as a potential candidate. India is the third largest consumer of oil at around 5 million barrels of oil per day, 5% of the world's oil consumption.
Persons: Andrey Rudakov, Goldman Sachs, Brent, Struyven, Torbjörn Törnqvist, Ben Luckock, we're, Bing Chen, Gunvor Organizations: Tuapsinsky, Rosneft Oil, Bloomberg, Getty, Global Commodities, Daan, CNBC, Global, Brent, U.S, West Texas Locations: Tuapse, Russia, China, U.S, Ukraine, India, Japan, Germany, Hong
Read previewThousands of Hezbollah-owned pagers that detonated in unison on Tuesday were made in Taiwan and had been tampered with by Israel, according to multiple reports. The New York Times reported that Hezbollah had purchased the pagers from Gold Apollo, a manufacturer in Taiwan. The same source told the outlet that Mossad, Israel's intelligence service, had planted a board inside the pagers that contained explosive material and could remotely receive a detonation code. " Related storiesHezbollah and Lebanon have both blamed Israel for the exploding pagers, though Tel Aviv has not claimed responsibility. The exploding pagers have led to heightened fears that Israel and Hezbollah may escalate their conflict into a wide-scale or direct war.
Persons: , Hsu Ching, Kuang, Hsu, Gold Apollo, Israel, Pagers, Benjamin Netanyahu Organizations: Service, Business, New York Times, Hezbollah, Times, Reuters, The, Israeli Defense Ministry Locations: Taiwan, Israel, Iran, Lebanese, Lebanon, Tel Aviv, Gaza
Daniel Lubetzky, founder of snack brand Kind, is joining "Shark Tank" as the show's newest Shark. Go to newsletter preferences Thanks for signing up! AdvertisementDaniel Lubetzky has seen dozens of pitches from founders on the ABC television series "Shark Tank." But Lubetzky will be hearing even more pitches as he becomes the show's latest new judge — or "Shark" — starting with the show's new season next month. Lubetzky isn't a stranger to Shark Tank or startups.
Persons: Daniel Lubetzky, Lubetzky, , He's Organizations: Service, ABC, Business
JPMorgan Chase has created a new global role overseeing all junior bankers in an effort to better manage their workload after the death of a Bank of America associate in May forced Wall Street to examine how it treats its youngest employees. The firm named Ryland McClendon its global investment banking associate and analyst leader in a memo sent this month, CNBC has learned. The move shows how JPMorgan, the biggest American investment bank by revenue, is responding to the latest untimely death on Wall Street. Later that month, JPMorgan CEO Jamie Dimon said his bank was examining what it could learn from the tragedy. Exceptions can be made for live deals, said the person, who declined to be identified speaking about the internal policy.
Persons: Jamie, JPMorgan Chase, Wall, Ryland McClendon, McClendon, Bank of America's Leo Lukenas III, Jamie Dimon, JPMorgan's Organizations: JPMorgan Chase, U.S . Senate Banking, Housing, Urban Affairs, Wall, Capitol, Washington , D.C, JPMorgan, Bank of America, CNBC, Associates, Bank of America's Locations: Washington ,
Trade Tracker: Jim Lebenthal trims Google and Oracle
  + stars: | 2024-09-18 | 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 EmailTrade Tracker: Jim Lebenthal trims Google and OracleJim Lebenthal, chief equity strategist at Cerity Partners, joins CNBC's 'Halftime Report' to explain why he's trimming these two tech names.
Persons: Lebenthal, Jim Lebenthal Organizations: Cerity Partners
CNN has attempted to reach BAC through the website that Gold Apollo gave to reporters. Later, the company told Gold Apollo it wished to make its own pagers and asked for the right to use its brand, he added. Taipei has no record of Gold Apollo pagers being shipped to Lebanon, the ministry said in a statement, adding it will continue to investigate. The logo of Taiwanese company Gold Apollo is seen outside its office in New Taipei City on September 18. Hsu founded Gold Apollo with 100 million New Taiwan dollars ($3.1 million) in capital in 1995, according to Taiwan’s corporate registry.
Persons: Hsu Ching, kuang, ” Hsu, “ I’ve, Apollo’s pagers, Hsu, Johnson Lai, Gold Apollo, Gold, , Yan Zhao, Hassan Nasrallah, pagers Organizations: New, Hong Kong CNN, New York Times, CNN, Consulting, BAC, Taiwan’s Ministry of Economic Affairs, Getty, Taiwan’s Commonwealth Magazine, FBI Locations: New Taipei City, Hong Kong, Lebanon, Israel, Taiwan, Europe, Budapest, United States, Australia, Taipei, AFP, Iran
Adrian Wojnarowski looks on before a game at Kaseya Center in Miami on June 7, 2023. ESPN 's star NBA insider Adrian Wojnarowski is retiring from the company, according to a post from his X account Wednesday morning. The longtime sports reporter will take a job at St. Bonaventure, his alma mater, and become the general manager of its men's basketball program, the university said. Wojnarowski often broke big news in the NBA world, so frequently that his breaking news reports on player transactions became colloquially known as "Woj bombs." He has led the industry at ESPN, and his dedication to the craft and to fans is legendary."
Persons: Adrian Wojnarowski, Bonaventure, Wojnarowski, Shams Charania, Woj, Jimmy Pitaro Organizations: Kaseya Center, ESPN, NBA, Yahoo Locations: Miami, St
Combs on Tuesday pleaded not guilty to each count: racketeering conspiracy, sex trafficking and transportation to engage in prostitution. The lawsuit accuses Combs and other defendants of sex trafficking, human trafficking, sexual assault, gender-motivated violence, sexual harassment, gender discrimination and a hostile work environment. Diddy is not accused of sexual assault in the lawsuit but is included in allegations of liability and aiding and abetting. Lampros accuses Combs of four instances of sexual assault from the mid-1990s to the early-2000s. July 3: Adria English, a former adult film actress, accuses Combs of sex trafficking and sexual assault in a federal lawsuit filed in New York.
Persons: CNN —, Sean “ Diddy ” Combs, Combs, Combs ’, Diddy, Casandra, Cassie ” Ventura, Ben Brafman, Mr, , , Ventura, ” Combs, Brafman, Joi Dickerson, Neal, Liza Gardner, Aaron Hall, Guy, Gardner, Instagram, Jane Doe, ” Douglas, Wigdor, Rodney “, Rod ” Jones, Jones, Shawn Holley, Sean, Aaron Dyer, Christian Combs, Grace O’Marcaigh, Dyer, ” Sean Combs, Cassie Ventura, Ventura –, I’m, Meredith Firetog, Cassie, , , Firetog, Crystal McKinney, drugging, Lampros, Eric Adams, Adams, Howard, Sean Combs, ” Jonathan Davis, Singer Dawn Richard, Danity Kane, Combs “, ” Ventura, Erica Wolff, Richard, Christine Cornell, Prosecutors, CNN’s Nicki Brown, John Miller, Eric Levenson, Alli Rosenbloom, Kristina Sgueglia, Lisa Respers France, Sandra Gonzalez Organizations: CNN, Prosecutors, Howard University, Ventura, New York Supreme, Syracuse University, Diddy, of, Homeland Security, InterContinental, MTV, New York’s Fashion Institute of Technology, Howard University’s, Sean Combs Foundation, Adria Locations: Los Angeles, Miami, New York City, Here’s, New York, Southern, of New, Century City, Ventura
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