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And comparable sales rose at both Bloomingdale’s and Bluemercury, the company’s luxury brands. Those results are early signs that Macy’s latest strategy of investing in these parts of the business may be working. Macy’s said it had found the accounting error while preparing its results for the quarter, which ended Nov. 2. An investigation was opened and the employee was no longer with the company, Macy’s said. In the same time period of the accounting issue in which the employee hid up to $154 million, the retailer said it had recorded about $4.36 billion of delivery expenses.

Persons: Macy’s Organizations: Target, National Retail Federation

☆ Rethinking the 4% rule in retirement
▼ + stars: | 2024-11-25 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

The most commonly recommended rule of thumb is the so-called 4% rule, which means you spend 4% of your portfolio every year, on an inflation-adjusted basis. When you die, your nest egg could be almost as large if not larger than it was on your first day of retirement. For example, Morningstar ran simulations on a $1 million portfolio over 30 years using the 4% rule. That’s because the rule is based on a very high probability that you never exhaust your nest egg. “It’s not just about getting employees to retirement but (helping them figure out) what to do once they’re in retirement,” Williams said.

Persons: you’d, William Bengen, Morningstar, ” Christine Benz, ”, Rob Williams, Charles Schwab, Williams, It’s, Mark Warshawsky, Warshawsky, Craig Copeland, “ It’s, ” Williams Organizations: CNN, Social Security, Social Security Administration, Social, American Enterprise Institute, American Council for, Research

☆ Trump has been tough on EVs. Now Elon Musk is his best friend and nobody knows how it'll play out.
▼ + stars: | 2024-11-25 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

AdvertisementTrump has been hard on EVs, but a new friendship with Elon Musk could change things. So far, Musk supports Trump's plans to dismantle EV tax credits. Automakers had hoped that Musk would support EV regulations and tax credits, but it appears the CEO is siding with Trump for now. An industry group representing many automakers (but not Tesla) pleaded with Trump to preserve EV tax credits but reconsider some of the more stringent emissions regulations. This was an about-face from Musk's stance a few months earlier when he advocated for trade barriers and warned that Chinese EV companies would "demolish" competition without guardrails.

Persons: Elon, Donald Trump, Elon Musk, Trump, he's, Trump's, Musk, Tesla Organizations: Trump, Biden, Government, Trump's, EV, Tesla, Twitter, US, Alliance, Automotive Innovation, Biden Administration Locations: Lago, China, Europe

☆ Stock futures inch higher on Monday after Dow closes at another record: Live updates
▼ + stars: | 2024-11-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on Aug. 2, 2024. Stock futures edged higher in overnight trading Monday, after the Dow Jones Industrial Average closed at a new record. Futures tied to the Dow added 30 points, or 0.1%, while S&P 500 futures and Nasdaq 100 futures rose 0.1% and 0.2%, respectively. The 30-stock Dow popped more than 440 points, or about 1%, to a new record close during regular trading. The Russell 2000 hit a new intraday high — its first record since 2021 — as investors piled into small caps.

Persons: Kohl's, Stocks, Donald Trump's, Dow, Russell, Scott Bessent, NewEdge’s Cameron Dawson, CNBC's Organizations: New York Stock Exchange, Dow Jones, Dow, Nasdaq, President, Trump, Key Square, Treasury Locations: U.S

☆ Indian regulator rejects Apple request to put antitrust report on hold
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: +2 min

India's antitrust body has turned down a request from Apple to put a hold on an investigation report which found the company breached competition laws, allowing the case to continue, an internal order from the regulator seen by Reuters showed. The CCI internal order showed that Apple alleged in November that the main complainant in the antitrust investigation—the Indian non-profit Together We Fight Society (TWFS)—had not complied with the directives to give an assurance that the old investigation reports had been destroyed. Apple asked the CCI "to take action against TWFS for non-compliance with its order" and "to withhold the revised" report, the CCI order, dated Nov. 13, seen by Reuters showed. "Apple's request to hold the investigation report in abeyance was deemed untenable," the CCI said in the order. The CCI's senior officials will review the investigation report and make a final ruling on the case.

Persons: Apple, —, TWFS Organizations: Apple, Reuters, of India, Society Locations: Mumbai, India

☆ Steel Maker ThyssenKrupp to Slash 11,000 Jobs in Germany
▼ + stars: | 2024-11-25 | by ( Melissa Eddy | More About Melissa Eddy | ) www.nytimes.com time to read: +1 min

ThyssenKrupp, the largest steel maker in Germany, said Monday that it would eliminate up to 11,000 jobs by 2030, a decision that comes as the country struggled to overcome economic weakness that has hindered growth for nearly two years. The overhaul is aimed at returning ThyssenKrupp to profitability in the face of pressure from Asian competitors and high energy prices. ThyssenKrupp was among those hurt by the tariffs Mr. Trump imposed on steel and aluminum during his first term in office. Another 6,000 jobs will be cut through the sale of business activities or turning to external providers, the company said without elaborating. “Urgent measures are required to improve ThyssenKrupp Steel’s own productivity and operating efficiency and to achieve a competitive cost level,” the company said in a statement.

Persons: Donald J, Trump, ThyssenKrupp Locations: Germany, United States

☆ Dominique Pelicot rape trial: Prosecutor requests 20-year sentence
▼ + stars: | 2024-11-25 | by ( Saskya Vandoorne | Niamh Kennedy | ) edition.cnn.com time to read: +2 min

Avignon, France CNN —Dominique Pelicot, the man who organized for more than 50 men to rape his unconscious wife, is “fully responsible” for his actions, a French public prosecutor told court after requesting the maximum prison sentence of 20 years. Dominique Pelicot fits this bill. Over a period spanning nearly 10 years, Dominique Pelicot used an online website and messaging platforms to seek out men from a radius spanning roughly 25 miles (40 kilometers). Pelicot has admitted to habitually drugging his wife with a strong sedative before allowing strangers to sexually abuse her. Dominique Pelicot kept his eyes closed and looked down at the ground during the hearing.

Persons: France CNN — Dominique Pelicot, Laure Chabaud, Dominique Pelicot, ” Chabaud, “, Gisele Pelicot, Sarah Meyssonnier, Reuters Pelicot, Pelicot, Beatrice Zavarro, Saskya Vandoorne, Niamh Kennedy Organizations: France CNN, Reuters Locations: Avignon, France, French, Mazan, London

☆ Can Saudi Arabia keep pace with its ambitious mega-project spending spree?
▼ + stars: | 2024-11-25 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

Digital render of NEOM's The Line project in Saudi Arabia The Line, NEOMIn Saudi Arabia's northwestern desert, a sprawling construction site replete with cranes and pile drivers sits encircled by a recently-built road. The changes come as the Saudi deficit grows and the outlook for oil demand, along with global oil prices, sees sustained lows. Construction for The Line project in Saudi Arabia's NEOM, October 2024 Giles Pendleton, The Line at NEOMThat begs the question: does Saudi Arabia have enough money to meet its lofty goals? Saudi Arabia has poured tens of billions into projects that have yet to hint of any financial returns." Saudi Arabia has an A/A-1 credit rating with a positive outlook from S&P Global Ratings and an A+ rating with a stable outlook from Fitch.

Persons: Prince Mohammed bin Salman, Saudi Arabia's NEOM, Giles Pendleton, Andrew Leber, Leber, Mohammed Al, Jadaan Organizations: Saudi, Public Investment Fund, CNBC, Tulane University, Saudi Finance, Fitch, —, P Global, Al Locations: Saudi Arabia, NEOM, Saudi, Neom, Saudi Arabia's, Riyadh

☆ 'Parks & Rec' cocreator Mike Schur made being the nicest guy in Hollywood a career path
▼ + stars: | 2024-11-25 | by ( Samantha Rollins | ) www.businessinsider.com time to read: +9 min

AdvertisementMike Schur is known for clever, kind-hearted TV shows like "Parks and Recreation" and "The Good Place." Schur explained to BI why all his shows have a central theme of hope and his philosophy as a boss. Related storiesSchur's Hollywood success started with a stroke of good luckSchur with cast on the set of "Parks and Recreation." AdvertisementSchur's management style boils down to being a good personSchur, center, with the cast of "The Good Place" during Universal Television's TCA Studio Day events. Schur on the set of "The Good Place."

Persons: Mike Schur, Schur, Charles, Ted Danson, he's, Colleen E, who's, I've, Obama, Ben Cohen, It's, Greg Daniels, Daniels, Evans Vestal Ward, Colleen Hayes Organizations: Netflix, Recreation, Hayes, Hollywood, NBCU, Getty, Universal, NBC Locations: Purgatory, Chilean, Pacific, Hollywood

☆ How Universities Cracked Down on Pro-Palestinian Activism
▼ + stars: | 2024-11-25 | by ( Isabelle Taft | ) www.nytimes.com time to read: +1 min

Colleges and universities have tightened rules around protests, locked campus gates and handed down stricter punishments after the disruptions of pro-Palestinian demonstrations and encampments last spring. Universities have seen just under 950 protest events this semester so far, compared to 3,000 last semester, according to a log at the Nonviolent Action Lab at Harvard University’s Ash Center. About 50 people have been arrested so far this school year at protests on higher education campuses, according to numbers gathered by The New York Times, compared to over 3,000 last semester. When students have protested this fall, administrators have often enforced — to the letter — new rules created in response to last spring’s unrest. The moves have created scenes that would have been hard to imagine previously, particularly at universities that once celebrated their history of student activism.

Organizations: Universities, Nonviolent, Harvard, Ash, The New York Times

UNFCCC Executive Secretary Simon Stiell speaks in the early hours at the conclusion of the UNFCCC COP29 Climate Conference on November 24, 2024 in Baku, Azerbaijan. Ambitious climate action often requires ambitious financing — be it a clean energy transition project or helping developing countries mitigate the effects of natural disasters. Nearly 50,000 people from 200 countries — including, for the first time, the Taliban rulers of Afghanistan — were in Azerbaijan for this year's United Nations Climate Change Conference, with the goal of reaching a critical deal on climate finance. Some of the highest human costs will be paid by smaller nations that are disproportionately affected by climate change, including Pacific Island nations whose existence is threatened by rising seas. But with COP29 weighed down by geopolitics and domestic turmoil, some were reluctant to attend at all.

Persons: Simon Stiell, Donald Trump, General Ban, Ruth Townend, COP29 Organizations: Conference, Change, World Meteorological Organization, House, Pacific Locations: Baku, Azerbaijan, Afghanistan, United States, Paris, London

On the first trading day since Donald Trump chose the billionaire financier Scott Bessent as his pick for Treasury secretary, investors seem to be signaling they like the choice. Bessent does,” Paul Donovan, chief economist of UBS Global Wealth Management, wrote in a research note on Monday. The Key Square Group founder overcame serious opposition from some in Trump’s inner circle. On Wall Street, a document was circulated suggesting that his Key Square hedge fund had underperformed the booming markets. Bessent’s ascent is notable in that he doesn’t appear to have been on Trump’s radar during his first administration.

Persons: Donald Trump, Scott Bessent, ” Paul Donovan, Elon Musk, Howard Lutnick, Cantor Fitzgerald, Trump, Lutnick, Bessent, Mark Rowan Organizations: “, UBS Global Wealth Management, Key Square, Commerce Department, Apollo Global Management

☆ The 7 most in-demand work-from-anywhere jobs companies are hiring for—some pay over $100,000
▼ + stars: | 2024-11-25 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

FlexJobs has identified the most in-demand work-from-anywhere jobs companies are hiring for by analyzing its database to find the highest volume of postings between June and November 2024. Such jobs are competitive: They account for only about 5% of all remote roles, FlexJobs reports. Some of the top companies hiring for work-from-anywhere jobs in the past six months on the platform include Duolingo, Invisible Technologies and the Wikimedia Foundation. Marketing, writing, project management and tech continue to be the fields with the most work-from-anywhere jobs. "For work-from-anywhere roles, employers are increasingly interested in workers who demonstrate advanced abilities, such as higher-level communication skills like negotiation, resourcefulness and problem-solving," Frana says.

Persons: FlexJobs, Toni Frana, Frana Organizations: Employers, CNBC, Technologies, Wikimedia Foundation, Marketing, Communications

☆ Is Outlook down? Thousands of Microsoft 365 users report outage issues
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: +1 min

Thousands of Microsoft 365 customers worldwide reported having issues with services like Outlook and Teams on Monday. In social media posts and comments on platforms like outage tracker Downdetector, some impacted said that they were having trouble seeing their emails, loading calendars or opening other Microsoft 365 applications such as Powerpoint. Microsoft acknowledged "an issue impacting users attempting to access Exchange Online or functionality within Microsoft Teams calendar" earlier in the day. Still, the company's status page later added, targeted restarts were "progressing slower than anticipated for the majority of affected users." As of midday Monday, Downdetector showed thousands of outage reports from users of Microsoft 365, particularly Outlook.

Persons: Downdetector Organizations: Microsoft, Twitter

☆ RBC sees the S&P 500 rising to 6,600 in 2025, but expects a 5%-10% correction near term
▼ + stars: | 2024-11-25 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

The S & P 500's rise to fresh heights in the new year will not be in a straight line, according to RBC Capital Markets. Strategist Lori Calvasina issued a year-end 2025 target for the broad market index of 6,600. The S & P 500 has rallied 3.2% since Donald Trump secured a second presidential term, raising expectations of lower taxes and deregulation. To be sure, Calvasina thinks there will be 5%-10% correction in the near term before equities resume their march to all-time highs. Last week, Goldman Sachs set a 6,500 target for the S & P 500, while BMO issued a forecast for the benchmark index to surge all the way to 6,700 .

Persons: Lori Calvasina, Donald Trump, Calvasina, Goldman Sachs, Bernstein Organizations: RBC Capital Markets, Health, BMO Locations: Friday's, Bitcoin

☆ Inflation will keep falling next year despite fears of prices spiking under Trump, veteran economist Steve Hanke says
▼ + stars: | 2024-11-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

AdvertisementTop economist Steve Hanke said that it's "nonsense" to think Trump's policies will spur inflation. Instead, inflation will depend on the Fed and the money supply, which has contracted since 2022. Advertisement"All this talk about Trump's policies are going to cause inflation to kick up again is just nonsense," the top economist said. "It depends on what the Fed is doing and what the monetary policy picture looks like with the money supply." Bessent has suggested ways to spread out any inflationary impact from Trump's trade policies.

Persons: Steve Hanke, Donald Trump's, Hanke, Trump's, Scott Bessent, Bessent Organizations: Fed, CNBC, Federal Reserve, NYSE, Trump

☆ Treasury yields fall as investors endorse Trump's Treasury secretary pick, await inflation data
▼ + stars: | 2024-11-25 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +2 min

U.S. Treasury yields were lower on Monday as investors weighed President-elect Donald Trump's Treasury secretary pick and eyed a key inflation reading due later in the week. Trump's choice of hedge fund executive Scott Bessent as Treasury secretary has calmed investors' nerves about the future of the U.S. economy. Bessent, the founder of Key Square Group, is expected to back the incoming president's economic goals including gradual tariffs and pro-business policies. However, as an old Wall Street hand and a fiscal conservative, investors believe Bessent will prioritize stability in the U.S. economy and markets. Also in focus this week are some key data points due ahead of a shortened trading week.

Persons: Donald Trump's, Scott Bessent, Kit Juckes, Trump, Bessent, Dow Jones Organizations: Treasury, U.S, Key Square, Societe Generale, CNBC, Federal, U.S . Federal Locations: U.S, U.S .

☆ Opinion | Don’t Let Donald Trump Drive You Into Internal Exile
▼ + stars: | 2024-11-25 | by ( Miriam Elder | ) www.nytimes.com time to read: +2 min

For months leading up to that moment, tens of thousands of Russians protested as Mr. Putin prepared to return to the Kremlin following four years in a shadow role as prime minister. The day before Mr. Putin was inaugurated in May, the police violently cracked down on a mass protest. When Mr. Putin drove through a Moscow cleared of any signs of life, and through the Kremlin gates, the protest movement was effectively dead. As this fact settled in, opposition-minded Russians flooded social media, recalling just how young they were when Mr. Putin first headed the state more than 12 years prior — some remembered their college days, others elementary school. The United States is not Russia, and Mr. Trump is not Mr. Putin.

Persons: Donald Trump’s, Vladimir Putin’s, Putin, Trump Organizations: Mr Locations: Moscow, United States, Russia

☆ Mitch McConnell Is Ready to Pick His Own Fights After Senate Leadership
▼ + stars: | 2024-11-25 | by ( Catie Edmondson | ) www.nytimes.com time to read: +1 min

The last time President Donald J. Trump was in the White House, Senator Mitch McConnell, the Kentucky Republican who was then the majority leader, played a crucial role in empowering him and pushing through his agenda. But Mr. McConnell, the longest-serving Senate leader, is stepping down from that post in January. This time he appears to be positioning himself to do the opposite, choosing to focus on issues that could put him at odds with Mr. Trump on policy and personnel at the dawn of his second term. In recent days, including during a late-night session of votes on the Senate floor last week, Mr. McConnell, 82, has told colleagues that his impending exit from leadership has left him feeling “liberated.”He has signaled skepticism about some of the president-elect’s most divisive picks for his administration, staying mum on their selections and saying last week that the withdrawal of former Representative Matt Gaetz from consideration as attorney general was “appropriate.” And Mr. McConnell has telegraphed that as he moves to cement his legacy in his remaining time in the Senate, he plans to prioritize two issues that just happen to be subjects on which he disagrees strongly with Mr. Trump.

Persons: Donald J, Trump, Mitch McConnell, McConnell, “, Matt Gaetz Organizations: Kentucky Republican, Senate

☆ Saquon Barkley’s career night propels Eagles past Rams: Key takeaways
▼ + stars: | 2024-11-25 | by ( The Athletic Nfl Staff | ) www.nytimes.com time to read: +7 min

SAQUON BARKLEY IS UNREAL 💥 This run gives him 255 rushing yards, surpassing his previous single-game rushing high of 189 yards. Barkley’s 70-yard touchdown run on the first play of the second half gave the Eagles a two-score lead the Rams never overcame. His 72-yard touchdown run set the final score. @saquon | #FlyEaglesFly pic.twitter.com/0h0Whzyn49 — Philadelphia Eagles (@Eagles) November 25, 2024Too many mistakes, too much BarkleyIt’s tough for a team to climb out of a hole of its own making, and the Rams dug themselves deep on Sunday night. pic.twitter.com/aJHYbotT2J — Philadelphia Eagles (@Eagles) November 25, 2024Philadelphia’s success is overpowering mistakesSirianni is managing one of the hottest teams in the NFL.

Persons: Jourdan Rodrigue, Brooks Kubena, Zach Powell, Saquon Barkley, Barkley, SAQUON BARKLEY Organizations: Zach Powell Philadelphia Eagles, Los Angeles Rams, Rams, Sunday, Los Angeles, Eagles, OU Locations: Philadelphia, Los, 8 y

Bombas' early Black Friday deals start now and the brand is offering 20% off sitewide through Thanksgiving. If you need one more reason to stock up during Bombas' Black Friday deals, consider that for every pair of socks and underwear purchased, Bombas will donate a pair to the homeless community. Top Black Friday Bombas deals Our favorite ankle socks for women, the Tri-Block Ankle Socks, are 20% offThe thick and scrunchy Chunky Ragg Half Calf Socks are 20% offGet high-quality workout underwear like the No Show Hipster for 20% offThe warm and cozy Gripper Slipper is 20% offThe best Black Friday Bombas deals for womenBombas Tri-Block Ankle Socks $10.40 $13.00 Save 20% These ankle socks are great if you wear sneakers everyday. View at BombasBombas Women's Gripper Slipper $38.40 $48.00 Save 20% The Bombas Gripper Slipper feels like wearing something halfway between a slipper and a sock, and the new redesign features double the cushioning. You can shop Bombas' early Black Friday sale between Saturday, Nov. 23 and Thursday, Nov. 28.

Persons: Bombas, Women's, ”, Kaplan, Mary Janes, Gabrielle Chase, Bombas Men's Organizations: Business, Bombas

☆ San Francisco Mayor-elect Daniel Lurie taps OpenAI's Sam Altman and other business leaders for help with transition
▼ + stars: | 2024-11-25 | by ( Kate Rogers | In Katerog | ) www.cnbc.com time to read: +2 min

San Francisco's Mayor-elect Daniel Lurie has begun tapping tech heavyweights and business leaders to help with his goal of overhauling the city's image. "He wants to put down roots here in San Francisco. The city can't have all its eggs in one basket and needs to expand into other business sectors as well, Lurie said. "We will go recruit companies from all sectors to come back to San Francisco," Lurie said. A fully-staffed police department and 911 dispatch office will be necessary to help bring businesses and workers back to the city, Lurie said.

Persons: Daniel Lurie, Sam Altman, Ned Segal, Lurie, Levi Strauss, I've Organizations: Francisco's Mayor, London, CNBC Locations: San Francisco, Francisco

☆ Monday, November 25, 2024: Cramer sets a bullish target for this pharmaceutical stock
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: 1 min

Monday, November 25, 2024: Cramer sets a bullish target for this pharmaceutical stockJim and Jeff discuss why they're buying this biopharmaceutical stock. They also talk about adding to this pharmaceutical stock. Finally, they break down what to expect from this retail stock's earnings.

Persons: Cramer, Jeff

☆ Nestle and Keurig are going all in on customers making iced coffee at home
▼ + stars: | 2024-11-25 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +5 min

New York CNN —Iced coffee just isn’t the same when you make it at home. This year, Keurig Dr Pepper launched a machine that is dedicated to iced coffee, advertising a drink “as cold as the coffee shops” in three minutes or less for $199. But there’s science behind why iced coffee is so much better at coffee shops, and current single-serve espresso machine innovations don’t meet that quality despite their marketing. And iced coffee mania comes at a time when coffee production is at risk of surging prices as factors like climate change could slash the global supply. Almost a quarter of Americans enjoy their coffee cold, according to this fall’s National Coffee Data Trends report.

Persons: Keurig Dr Pepper, Nescafé, ” Christopher Hendon, ” David Rennie, Coffee, Jennifer Creevy, ” Creevy, ”, It’s, ” Rennie, Nestlé, “ It’s, Dr Pepper, they’re, CNN’s Erika Tulfo Organizations: New, New York CNN, Nestle, ”, University of Oregon, CNN, International Coffee Organization, United Nations, Nestlé Coffee, National Coffee Association Locations: New York, Australia, China, Americano

☆ Singapore's inflation rate falls in October, hitting lowest point since March 2021
▼ + stars: | 2024-11-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

SINGAPORE — Singapore's headline inflation rate fell to 1.4% in October, down from September's figure of 2%, as the cost of cars dropped and rent prices rose at a slower pace. The consumer price index rise was also lower than the 1.8% that was expected among economists polled by Reuters. It marked the first time that Singapore's headline inflation rate fell below 2% since March 2021, when it came in at 1.3%. Singapore's core inflation rate, which strips out accommodation and private transport prices, came in at 2.1%, down from 2.8% in September and lower than the 2.5% expected in the Reuters poll. The Singapore dollar was trading at 1.34 against the U.S. dollar after the inflation reading, strengthening by 0.13%.

Organizations: Reuters, Monetary Authority, Singapore, U.S Locations: SINGAPORE, Singapore

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