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Burberry, the British luxury brand, on Monday reported falling sales, suspended its dividend and replaced its chief executive, as it grapples with a pullback in spending by consumers on high-end fashion and related goods. Burberry said revenue fell more than 20 percent in its latest quarter, which ended June 29. To bolster its balance sheet, Burberry paused its dividend. The company named Joshua Schulman as its new chief executive, replacing Jonathan Akeroyd, who is leaving the company immediately. The abrupt departure of Mr. Akeroyd, a fashion industry veteran who was previously chief executive of Versace and Alexander McQueen, came less than two and a half years after he was tapped to run Burberry.
Persons: ” Gerry Murphy, Burberry, Joshua Schulman, Jonathan Akeroyd, Akeroyd, Versace, Alexander McQueen Organizations: Burberry Locations: London
For Nvidia CEO Jensen Huang, being almost the only game in town for AI chips isn't enough. AdvertisementThe company also runs Nvidia Inception, an incubator and venture network that counts more than 20,000 early-stage companies among its membership. "I think it's crazy," said another founder whose company received investment from NVentures, who spoke on condition of anonymity. Any company trying to do anything major in AI has spent the past two years buying them by the truckload. AdvertisementHe says he's received personal calls from Huang in which the Nvidia CEO weighs in on company decisions or expresses disapproval of his public statements.
Persons: Jensen Huang, Chris Brown, Brown, Huang, Vishal Bhagwati, Sid Siddeek, Jensen, Umesh, Padval, Uber, Nvidia's, Lisa Su, he's, there's Organizations: Service, Nvidia, Business, Corporate, Cohere's, Google, AMD Locations: Silicon Valley, New York, NVentures, OpenAI
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPowell on inflation: Fed 'overestimated how quickly the economy would return to normal'Fed Chair Jerome Powell speaks at the Economic Club of Washington D.C.
Persons: Powell, Jerome Powell Organizations: Economic, of Washington D.C
Federal Reserve Chair Jerome Powell is set to address the Economic Club of Washington, D.C., on Monday as traders look for hints about when the central bank will cut interest rates. Powell will partake in a discussion with David Rubenstein, chairman of the Economic Club and co-founder of The Carlyle Group. These will be Powell's first remarks since Thursday's consumer price index report, which showed that prices went down in June on a monthly basis. He also said the central bank did not need to wait for inflation to actually reach its 2% target before cutting rates. The Federal Reserve has a policy meeting at the end of July, but a rate cut is seen unlikely at that time.
Persons: Jerome Powell, Powell, David Rubenstein Organizations: Economic, of Washington, of Washington , D.C, Economic Club, The, Group, Capitol, Fed, Federal, Traders Locations: of Washington ,
The FBI said Sunday that the shooter at Trump’s rally in Pennsylvania acted alone and that it is still actively investigating the shooter’s background – including working to gain access to his phone. “We are working to get access to the phone,” Kevin Rojek, special agent in charge of the FBI’s Pittsburgh field office, said Sunday. Rojek confirmed the gun used in the shooting was an AR-style rifle that was purchased legally. FBI Deputy Director Paul Abbate also said the FBI is “seeing that tick up in the aftermath of this event. “The violence we saw yesterday is an attack on democracy itself,” Garland said.
Persons: Kevin Rojek, , ” Rojek, , Rojek, Bobby Wells, Paul Abbate, We’ve, General Merrick Garland, Biden, ” Garland Organizations: FBI, Counterterrorism Division Locations: Pennsylvania, Pittsburgh, Quantico, Washington ,
Milwaukee was always an unlikely host for the Republican National Convention: small in population with 560,000 residents, short on hotel rooms and unaccustomed to holding large-scale gatherings. The city is now facing even more scrutiny in the wake of an assassination attempt Saturday night against former President Donald J. Trump at a Pennsylvania rally. Even as workers this weekend were erecting fences, posting shiny signs and adding final touches as the first of 50,000 people descended on the city, party and local officials met to re-evaluate security plans. At a news conference in Milwaukee, Audrey Gibson-Cicchino, the R.N.C. coordinator for the Secret Service, said that the agency was “ready to go” for the convention on Monday.
Persons: Donald J, Trump, Audrey Gibson Organizations: Milwaukee, Republican National Convention, Secret Service, Secret Locations: Pennsylvania, Milwaukee
Never was there any doubt that Miami, the nation’s most Pan-American city, was the most fitting place to host the final game of the Copa América, a South American soccer tournament that is being held in the United States for only the second time in a century. But even the tournament’s organizers could not script a matchup like the one that will take place on Sunday night between Argentina and Colombia — two countries that, on any given day, would be received like the home team in South Florida. “That stadium is not going to feel like you’re in Miami — or in the U.S., for that matter,” said Juan C. Zapata, who was the first Colombian American elected to the Florida Legislature. “It is a very Miami final.”The tournament, which started on June 20, has lost some of its trademark South American feel being played entirely in the United States, with empty seats at some matches and players complaining about the surfaces of several fields. But the setting of the final may restore some of Copa América’s typical festive energy.
Persons: , Juan C, Zapata Organizations: Copa, Miami —, Colombian, Florida Legislature Locations: Miami, American, United States, Argentina, Colombia, South Florida, U.S, Colombian American, Florida
At first I was angry, thinking, “Now they’re intruding on my therapy sessions?” But then I saw how pale his face was. I don’t know where Donald Trump’s family members were when bullets were fired at his Pennsylvania rally, injuring him, killing one attendee and seriously injuring two others. I don’t know if this event will soften any of that. I don’t know if the Trump family will have the same experience I did — that of a nation setting politics aside and simply responding in a human and humane way. I also don’t know how, or if, this experience will change Mr. Trump.
Persons: “ Patti, there’s, Ronald Reagan, Donald Trump’s, Trump, Mikhail Gorbachev Organizations: Service, Army, Washington , D.C Locations: Washington ,, America, Soviet Union
The Chinese Base That Isn’t There
  + stars: | 2024-07-14 | by ( Agnes Chang | Hannah Beech | ) www.nytimes.com   time to read: +10 min
Security gate Chinese-funded buildup CAMBODIA Chinese warship CAMBODIA CAMBODIA Dry dock and other repair facilities Before After China insists it is not building a naval base in Cambodia. CHINA Ream, CambodiaThe Chinese Base That Isn’t There New facilities and the months-long presence of Chinese warships show Beijing’s growing global influence. In 2020, something curious happened at Cambodia’s Ream military base, on the Gulf of Thailand. The Chinese military presence near one of the world’s most vital sea lanes raises fundamental questions about Beijing’s ambitions. “The Ream military base is Cambodia’s, not the military base of any country,” Mey Dina, the commander of the base, told The New York Times.
Persons: CHINA, , , Jan, John, “ We’re, Lloyd J, Austin III, ” Mey Dina, Mey Dina, Xi Jinping, dredgers, Ream, Gregory B, Poling, ‘ Ream, Xi, Hun Sen, Mr, Hun Sen’s, Hun Manet Organizations: U.S . Defense Department, Thunderbird School of Global Management, Arizona State University, Agence France, Navy, Planet Labs, Ream, Pentagon, New York Times, China’s, China’s Djibouti Naval, Basketball, Djibouti ETHIOPIA Perimeter, NAM Ream, Center for Strategic, International Studies, Cambodian, Congressional Research Service, White, AMERICA Ports, SOUTH AMERICA SRI LANKA, China, China ASIA EUROPE CHINA AFRICA Djibouti Ream SRI LANKA, United States Military Academy Locations: CAMBODIA CAMBODIA, China, Cambodia, CHINA Ream, Thailand, Ream, South China, American, Cambodian, U.S, People’s Republic, China’s, Djibouti, Horn of Africa, China’s Djibouti, YEMEN Djibouti, Djibouti ETHIOPIA, THAILAND, Cambodia Malacca, Africa, Asia, Southeast Asia, Djibouti Ream Africa, ASIA EUROPE, China CHINA AFRICA Djibouti, AUSTRALIA, China ASIA EUROPE CHINA AFRICA Djibouti, United States, Spratlys
Stirring vigorously, she sprinkled in seasonings until stovetop alchemy took hold and the mixture slowly turned into a fragrant stew. She arrived with her family in New York City in October 2022 after crossing the southern border, and the shelter where they stay does not have a kitchen she can use. So she brought her cooking to the cramped kitchen in the basement of the Metro Baptist Church on West 40th Street in Midtown Manhattan. The hands-on kitchen is the magic behind a volunteer-run center that has helped thousands of migrants start over in the city. — for Resources, Opportunities, Connections, Community — the center opened a year ago and has been supported mainly with small donations from individuals and community and religious organizations.
Persons: Oumou Doumbouya Organizations: Metro Baptist Church, West, Resources Locations: West, Guinea, New York City, Midtown Manhattan
At the time, I hadn't even heard of the term "executive coach." Here's how an executive coach changed my company and myself forever and why executive coaching is still an important part of our continued success. Another lesson was that I had to set very clear goals. AdvertisementIf you can be super clear on where you're going and what your goals are, you're going to be 20 times more effective. You're going to get that hour back 20 fold, maybe even a hundredfold.
Persons: , Graham Weaver, Alex Nicoll, JP Flaum, Graham, Flaum, I'd, We're, It's, I've Organizations: Service, Alpine Investors, Business, Stanford Graduate School of Business ., Alpine, Graduate School of Business Locations: Denver , Colorado, Dallas, Chicago, Washington ,
The attempted assassination of former President Donald Trump at a rally in Pennsylvania on Saturday left one attendee and the gunman dead, and two more attendees still in critical condition 12 hours later. Trump was grazed by a bullet and treated at a local hospital, but released late Saturday night. The FBI has identified the shooter, now deceased, as 20-year-old Thomas Matthew Crooks of Bethel Park, Pa., a registered Republican. He used a semi-automatic weapon, NBC News reports. CNBC's politics reporters and breaking news teams are covering the day's developments from Washington, D.C. and New York City.
Persons: Donald Trump, Trump, Thomas Matthew Crooks, Mike Johnson, demonized Trump Organizations: FBI, NBC, Republican National Convention, Trump, Democratic Locations: Pennsylvania, Washington, California, Bethel Park, Pa, Milwaukee, Washington ,, New York City
Travel news: Pan Am will return to the skies in 2025
  + stars: | 2024-07-13 | by ( Lilit Marcus | ) edition.cnn.com   time to read: +4 min
Get the latest news in aviation, food and drink, where to stay and other travel developments. Now, there’s a chance to fly Pan Am again, provided you have deep pockets. Pan Am Brands, which owns the former airline’s licensing rights, will fly a special Pan Am-branded private jet on a 12-day trip from New York City in June 2025. But if you’d rather get out of the city, there’s no shortage of great things to do. Video Ad Feedback Here’s where you can snowshoe, hike an island, blow glass and shuck oysters – all in the same day 02:00 - Source: CNNAmerican spotlight: TacomaCNN Travel recently unveiled its top 10 best towns to visit for 2024.
Persons: there’s, Pan, Benoit Tessier, Roland Garros, CNN’s Richard Quest, Michel, Anthony Bourdain, Frank Herbert, Dale Chihuly, It’s, Lorena Sopêna, Silvio Berlusconi, Silkworm Organizations: CNN, France, Am Brands, Reuters, UNESCO, Saint, Pacific, Tacoma CNN Travel, Tacoma, Rainier, Europa Press, Locals Locations: Pacific Northwest, New York City, Bermuda, Lisbon, Marseille, London, Foynes, Ireland, Pan, Paris, France, of, Europe, Polynesia, Tacoma , Washington, Grit, , Barcelona, Spain, Swiss, Lauterbrunnen, Venice, Notting Hill, Milan, Harbin, China
Former US President and Republican presidential candidate Donald Trump speaks during a rally in Doral, Florida, on July 9, 2024. Various Trump megadonors are also on the RNC lineup including venture capitalist David Sacks and investors Steve and Zach Witkoff. In total, the RNC will have over 80 speakers rallying support around Trump before the convention culminates in officially designating him the Republican presidential nominee. Notably missing from the RNC speaker list is former First Lady Melania Trump, as well as Trump's daughter and former White House advisor Ivanka Trump. Melania has so far been conspicuously absent from the Trump campaign trail, drawing mockery from President Joe Biden.
Persons: Donald Trump, Trump, frontrunners, frontrunners — Sens, JD Vance, Marco Rubio, Doug Burgum —, Sen, Tim Scott, Vivek Ramaswamy, David Sacks, Steve, Zach Witkoff, Mike Johnson, Tucker Carlson, Amber Rose, Melania Trump, White, Ivanka Trump, Melania, Joe Biden, Eric Trump, Lara Trump Organizations: Republican, Republican National Convention, Capitol Hill, frontrunners —, North Dakota Gov, GOP, RNC, Trump, Senate, Conservative, Republican Party Locations: Doral , Florida, R, Ohio, Savannah, Milwaukee
What if the A.I. Boosters Are Wrong?
  + stars: | 2024-07-13 | by ( Bernhard Warner | Sarah Kessler | ) www.nytimes.com   time to read: +1 min
would contribute only “modest” improvement to worker productivity, and that it would add no more than 1 percent to U.S. economic output over the next decade. That pales in comparison to estimates by Goldman Sachs economists, who predicted last year that generative A.I. The bullish camp has great hopes for A.I. Sam Altman of the ChatGPT maker OpenAI sees A.I. of Nvidia, the dominant maker of the chips used to power A.I., says the technology has ushered in “the next industrial revolution.”
Persons: Daron Acemoglu, Acemoglu, Goldman Sachs, Sam Altman, OpenAI, Jensen Huang, Organizations: A.I, Nvidia Locations: O.E.C.D
What to Expect as a Punishing Heat Wave Shifts East
  + stars: | 2024-07-13 | by ( Rachel Nostrant | ) www.nytimes.com   time to read: +1 min
A heat wave that broke dozens of temperature records across the American Southwest will shift to more of the country this weekend, with heat peaking in the Northeast early next week. Some East Coast cities, including Baltimore and Washington, D.C., will experience temperatures reaching up to 100 degrees Fahrenheit on Tuesday, according to the National Weather Service. That won’t necessarily break records, as Las Vegas and many other Western cities did last week. “What we want people to be prepared for is the hot daytime temperatures, and the temperatures that don’t really cool off that much at night,” said Richard Bann, a meteorologist at the National Weather Service. That can be especially stressful for people who don’t have a good way to keep cool or aren’t staying hydrated, he said.
Persons: , Richard Bann Organizations: D.C, National Weather Service, Las, West Locations: American, East Coast, Baltimore, Washington, Las Vegas, California, Nevada
How to Watch the Republican Convention
  + stars: | 2024-07-13 | by ( Neil Vigdor | More About Neil Vigdor | ) www.nytimes.com   time to read: +1 min
Former President Donald J. Trump will formally accept the Republican presidential nomination for a third election cycle during the party’s national convention in Milwaukee. The New York Times will stream the convention speeches during prime time, alongside real-time commentary and analysis from reporters. C-SPAN will stream the convention at C-SPAN.org and on the C-SPAN Now mobile app. CBS’s streaming platform, CBS News 24/7, will start its nightly coverage at 7 p.m., but it will not carry the convention gavel to gavel. ABC News will offer nightly coverage on ABC News Live, its streaming platform, from 7 p.m. to midnight.
Persons: Donald J, Trump, Lester Holt, Savannah Guthrie Organizations: New York Times, SPAN, CBS, NBC, ABC, ABC News Locations: Milwaukee, gavel, Savannah
We should not have had nine fire stations without power,” Patrick said. Combined with power outages, alarmingly dangerous consequences have ensued. CenterPoint foreign assistance crews work to restore power lines on Thursday in Houston, Texas. Danielle Villasana/Getty ImagesFrustration mounts with Houston utility providerThe crisis comes more than three years after massive power outages hit the state. Greg Abbott has requested an investigation into CenterPoint Energy and other electric companies in the wake of the outages, Patrick said in a news conference Thursday.
Persons: Hurricane Beryl, Energy –, Jordyn Rush, “ It’s, ” Rush, “ I’m, Gov, Dan Patrick, , ” Patrick, Beryl, KP George, Dawn O’Connell, Nim Kidd, Patrick, Kidd, Rush, it’s, Hurricane, Brian Maxwell, Danielle Villasana, Greg Abbott, CenterPoint, Jason Wells, , ” Wells, Larry, Brandon Bell, Destinee Rideaux, she’s, she’s “,  “, Rideaux, Laura, she’ll Organizations: CNN, Energy, Houston, Jordyn, CenterPoint Energy, Sunday, , US Department of Health, Human Services, Preparedness, Texas Emergency Management, Gov, Federal Emergency Management Agency, Texas Gov, CenterPoint, Houston Chronicle, Ward Locations: Texas, Vermont, Louisiana, Houston, Fort Bend County, Harris County, Crystal Beach, City, Galveston, Houston , Texas, Iowa , Louisiana, Hurricane
Alvey treads carefully when she and her dog, Stuart, walk the dappled trail behind their apartment in Folsom, Calif. Since the pandemic, her neighbors have included homeless campers along a brook known as Humbug Creek. There’s the man who periodically emerges from the brush, yelling in fear and tearing at tree limbs. Until recently, federal appellate courts limited how far cities could go to clear encampments. But late last month, the Supreme Court ruled that they could remove homeless residents sleeping outdoors, a decision that has already begun to reshape how they deal with homelessness.
Persons: Stuart, campfires Locations: Folsom, Calif
Is There a Future in the Doomsday Economy?
  + stars: | 2024-07-13 | by ( Alexander Nazaryan | Emily Najera | ) www.nytimes.com   time to read: +2 min
When it comes to surviving the apocalypse, you could do a lot worse than the West Virginia branch of Fortitude Ranch, a constellation of five survivalist compounds across the United States and one of a growing number of businesses aiming to seize on Americans’ deepening anxieties about the future. Set on a rise above the lush valley cradling the Lost River in eastern West Virginia, about two hours from Washington, D.C., the 50-acre property backs up against the George Washington and Jefferson National Forests. A handsome guesthouse, built of dark timber slats, anchors the property. Two large, boxy dormitories, also timber but more rustic, as well as a bare-bones bunker, are designed to house more than 100 members. On a tabletop sits a 50-caliber rifle, which could be used to take out the engine block of an approaching vehicle.
Persons: George Washington Organizations: Washington , D.C, Jefferson National Forests, Guard Locations: West Virginia, Fortitude, United States, Washington ,
Trump could be seen on video contracting his body to the right, clutching his ear and dropping to the ground. What appeared to be blood could be seen on the right side of Trump's head. One spectator from the rally is dead, and a second is in serious condition, according to the Butler County district attorney. President Joe Biden delivered remarks on Saturday evening, saying "There's no place in America for this kind of violence." CNBC's politics reporters, video team and breaking news reporters will be covering this story live from New York and Washington, D.C.
Persons: Trump, Joe Biden Organizations: Secret Service, NBC Locations: Butler County, America, New York, Washington
Even though Fishman is the owner of the VitaCup brand, he said he lost the buy box to a reseller of his coffee products. That meant it was indexed by Amazon's pricing algorithms, Fishman said, causing him to lose the buy box. Angus Mordant | Bloomberg | Getty ImagesWinning the buy box is paramount to a seller's success on Amazon. Nearly 98% of sales made on Amazon go through the buy box button, the FTC alleged in its suit. "The only way to get back the Amazon buy box is to lower our price on Amazon," Arnold said.
Persons: Tom Williams, Brandon Fishman, Fishman, I've, David Zapolsky, Amazon's, Target, Angus Mordant, Mason Arnold's, Arnold, Sunwink, we're Organizations: Washington , D.C, Cq, Inc, Target, Amazon, Walmart, Federal Trade Commission, JPMorgan, Bloomberg, Getty, FTC Locations: Washington ,, Harriman , New York
Opinion | Caring for Pet Companions
  + stars: | 2024-07-13 | by ( ) www.nytimes.com   time to read: +1 min
shelter and started a group called No Kill Lehigh Valley, now known as the Fund for Veterinary Care. Our mission is to raise money to pay for veterinary care for animals whose families cannot afford it. While at the shelter, I witnessed people dropping off beloved pets for relinquishment because they were sick or injured and the family could not afford veterinary care. Fifteen years later the need for our services has grown as the cost of veterinary care has increased. Their pet is part of their family, or the only family they have.
Organizations: Fund for Veterinary Care Locations: Lehigh Valley
As tens of thousands of Republicans arrive in Milwaukee on Monday for their party’s convention, another large gathering is expected just outside the official meeting site: Thousands of left-leaning protesters, some of whom have spent the last two years preparing for this moment, will march in opposition to the Republicans’ platform and their nominee, Donald J. Trump. More than 120 groups have joined a Coalition to March on the R.N.C. 2024, and organizers say they expect as many as 5,000 people to take to the streets of downtown Milwaukee for a march and rally on Monday. “With all the developments with Biden, that makes Trump a much more imminent threat, and that’s going to increase our numbers,” said Omar Flores, a protest coalition leader. “People see the urgency in taking this on.”
Persons: Donald J, Biden’s, Biden, , Omar Flores, Organizations: Republicans, Trump, Coalition, Republican National Convention Locations: Milwaukee
A Senator’s Fate Is in a Jury’s Hands
  + stars: | 2024-07-12 | by ( Benjamin Weiser | Tracey Tully | ) www.nytimes.com   time to read: +1 min
The Manhattan jury in Senator Robert Menendez’s corruption trial began its deliberations midday Friday on a raft of federal charges in what prosecutors describe as a complex and yearslong bribery conspiracy. A third-term Democrat who represents New Jersey, Mr. Menendez is accused of steering aid to Egypt, applying political pressure to preserve a friend’s business monopoly and meddling in criminal investigations in exchange for bribes of gold, cash and a Mercedes-Benz. On Thursday, Mr. Menendez, 70, seated at the defense table with his lawyers, leaned back in a chair, hands clasped on his lap, as a prosecutor offered an hourslong rebuttal to frequently impassioned closing arguments by lawyers for the senator and two businessmen, Wael Hana and Fred Daibes, who are being tried with him. In his rebuttal argument, the prosecutor, Daniel C. Richenthal, took direct aim at a pillar of the senator’s defense strategy — an effort to shift blame to his wife, Nadine Menendez, 57.
Persons: Robert Menendez’s, Menendez, clasped, Wael Hana, Fred Daibes, Daniel C, Nadine Menendez Organizations: Benz Locations: Manhattan, New Jersey, Egypt
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