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☆ Amazon crushed it in e-commerce and cloud, forecast an impressive holiday quarter
▼ + stars: | 2024-10-31 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Amazon reported a much better-than-expected third quarter Thursday, with strong growth across online sales, its cloud business and advertising. Commentary Cloud unit Amazon Web Services (AWS) revenue in the third quarter was essentially in line with the consensus forecast. Growth on a constant currency basis held steady from the second quarter at 19%, breaking a three-quarter streak of accelerating revenue growth. Quarterly results As for the rest of the company, Amazon delivered revenue beats across Online Stores (7% revenue growth), Subscription Services (11% revenue growth), and Advertising Services (19% revenue growth). Smaller businesses like Physical Stores (5% revenue growth) and Other (7% revenue growth) were better than expected too.

Persons: Andy Jassy, Jassy, it's, Kuiper, That's, Jim Cramer's, Jim Cramer, Jim, Nathan Stirk Organizations: Amazon, LSEG, Management, Walmart, Target, Microsoft, North America, International, Web Services, AWS, Subscription Services, Advertising Services, Seller Services, CNBC, Getty Locations: North, North America, United Kingdom, Germany, Sutton Coldfield, England

☆ We're hiking our price target on an industrial whose earnings benefit from AI data center boom
▼ + stars: | 2024-10-31 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Electrical components and power systems company Eaton delivered mixed third-quarter results Thursday morning, and its stock paid the price. Eaton management raised its full-year guidance for both operating margin and earnings per share (EPS). However, we're increasing our price target to $375 per share from $350, implying over 9% upside from Wednesday's close. 2025 outlook Looking to next year, management didn't provide formal sales or earnings guidance, but they did provide growth assumptions for the company's key end markets. Industrial facilities (12% of sales), defense aerospace (6% of sales), and commercial and institutional (20% of sales) are expected to realize "modest growth."

Persons: Eaton, it's, we've, Oliveri Leonetti, Parker, wouldn't, Craig Arnold, Jefferies, Jim Cramer's, Jim Cramer, Jim Organizations: Revenue, LSEG, Boeing, Electrical, Aerospace, Hannifin, DuPont, Honeywell, CNBC, Eaton Corporation, NYSE Locations: Florida, Eaton, Americas, North America

☆ Germany's inflation surges to 2.4% as it narrowly skirts a technical recession
▼ + stars: | 2024-10-30 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Germany's inflation surged to 2.4% in October, back above the European Central Bank's 2% target, even as the country narrowly avoided a technical recession in the third quarter. The preliminary print, announced by German statistics office Destatis, is harmonized across the euro area for comparability. Harmonized inflation had dropped to 1.8% in September, after coming in at the European Central Bank's 2% target in August. So-called core inflation, which strips out more volatile food and energy costs, came in at 2.9% in October, the German statistics office said Wednesday, an increase from the 2.7% reading of September. In a note translated by CNBC, Deutsche Bank economist Sebastian Becker said that the renewed rise in core inflation showed that the problem of growth in price increases was not resolved, and that further patience was needed.

Persons: Sebastian Becker, Carsten Brzeski, meanwhile, Destatis Organizations: Central, German, comparability, Reuters, CNBC, Deutsche Bank, ING Locations: Bavarian, Germany

☆ What investors should look for as Meta, Microsoft report earnings Wednesday
▼ + stars: | 2024-10-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Another busy day of megacap technology earnings kicks off Wednesday with results from Meta Platforms and Microsoft after the bell. Wall Street expects Meta Platforms to post third-quarter earnings of $5.25 per share, up from $4.39 a year ago, per LSEG. For Microsoft, EPS and revenue are expected to reach $3.10 and $64.51 billion, respectively, for the fiscal first quarter . Meta Platforms For Meta Platforms, analysts are hunting for signs that AI is continuing to boost the company's core product and advertising spending. Microsoft Microsoft faces a tougher bar headed into the print, with many analysts leaning toward caution as the company lags some of its megacap peers and underperforms the Nasdaq Composite.

Persons: haven't, Davidson, Gil Luria, Citi's Ronald Josey, Citi's Josey, Mark Mahaney, Barton Crockett, Mark Shmulik, Bank of America's Justin Post, Keith Bachman, Citi's Tyler Radke, Morgan Stanley's Keith Weiss, Weiss, Goldman Sachs, Kash Rangan, Azure's Organizations: Meta, Microsoft, D.A, Revenue, Google, Bank of America's, Microsoft Microsoft, Nasdaq, BMO Capital Markets, BMO

☆ Amazon employees speak out about Jeff Bezos's WaPo decision, with some supporting his call, leaked messages show
▼ + stars: | 2024-10-30 | by ( Eugene Kim | Ashley Stewart | ) www.businessinsider.com time to read: +6 min

In leaked messages, Amazon employees are divided, with some supporting his call. Related storiesSome Amazon employees agreed, according to the Slack messages obtained by BI. Other Amazon employees said it was "silly" and "sad" to see so many Washington Post readers cancel their subscriptions over the endorsement issue. 'Suspicious and worrisome'Still, some of Amazon employees who weighed in on the company's internal Slack were suspicious of Bezos's true motivation. Other Amazon employees were more blunt, saying they were going to cancel their own Washington Post subscriptions.

Persons: Jeff Bezos, —, Jeff Bezos's, Bezos, Slack, Donald Trump, I'd, Trump, Dave Limp, Matt Garman, he's, It's, it's Organizations: Washington Post, Amazon, Service, Business, BI, Democratic, Spokespeople, Washington, Blue, Trump Locations: Amazon, Washington

☆ UK borrowing costs spike after extensive tax hikes announced in budget
▼ + stars: | 2024-10-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Maja Smiejkowska | ReutersLONDON — U.K. borrowing costs on Wednesday touched their highest level since Labour took office, after Finance Minister Rachel Reeves unveiled a vast package of tax hikes in her first budget. The yield had cooled to a 3 basis point rise to 4.35% by 4:00 p.m. U.K. time (12:00 p.m. The yield on 2-year bonds, which in the U.K. are known as gilts, were over 6 basis points higher at 4.33% after rising by as much as 10 basis points. The Treasury separately said it would raise gilt issuance by £22.2 billion ($28.9 billion) to £299.9 billion for the fiscal year to meet its net financing requirement. Those included the facts that many key policies had already been announced, and that any increase in borrowing would be to fund public investment.

Persons: Rachel Reeves, Maja Smiejkowska, Reeves, Liz Truss Organizations: Reuters LONDON, Labour, Treasury, Conservative Party, Bank of England Locations: London, Britain

☆ U.S. election won't be an 'uneventful event' for global markets, UBS chief says
▼ + stars: | 2024-10-30 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

The outcome of upcoming elections in the world's leading economy is set to ripple into global markets no matter who clinches leadership of the White House, UBS head Sergio Ermotti told CNBC on Wednesday. "We do expect, no matter who wins and the outcome, we do expect some market movements. Markets are bracing as voters flock to the polls on Nov. 5, with the U.S. holding both the world's foremost reserve currency and the largest stock exchange by market capitalization. Under a [Donald] Trump presidency, we see that as being inflationary on the back of his focus on immigration and on tariffs. But we don't see any outcome as being particularly growth positive.

Persons: Sergio Ermotti, CNBC's Annette Weisbach, Ermotti, Donald, Trump, Arun Sai, CNBC's Organizations: White House, UBS, CNBC, Swiss, U.S, U.S . Federal, . Treasury, Pictet Asset Management, Trump Locations: U.S

☆ Why the October jobs report on Friday could sink the market's soft-landing narrative
▼ + stars: | 2024-10-30 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

September's payrolls report exceeded expectations, but economists see weak gains for October. Even with lower expectations, a poor print could reset the market's narrative around a soft landing. AdvertisementThe narrative around ongoing labor-market strength revived with September's payrolls report, which topped economists' expectations by over 100,000 jobs. "The October jobs report will likely show a severe but short-lived hit from hurricanes Helene and Milton," Adams said. Another sign that September's jobs numbers may have been overstated is that other employment indicators haven't started to trend upwards.

Persons: September's, —, Hurricanes Milton, Helene, Tom Essaye, Ben McMillan, McMillan, Goldman Sachs, there's, Goldman, Claudia Sahm, Michael Cuggino, Bill Adams, Milton, Adams, Neil Dutta, David Rosenberg, Rosenberg, Dutta Organizations: Service, Bureau of Labor Statistics, Hurricanes, Boeing, IDX Advisors, of Labor Statistics, Comerica, Funds, Federal Reserve, Macro, BLS, PMI

Sean “Diddy” Combs has been accused in separate lawsuits of sexually assaulting two boys, one who was 10 at the time, and another who was 17. Afterward, a Combs associate gave the child a spiked soda and Combs forced him to perform oral sex on him, the lawsuit alleges. The suit alleges he was “deprived of a normal childhood” and is unable to interact with others and live a normal life. In a one-on-one meeting with Combs, the suit alleges, Combs instructed the 17-year-old to undress and groped and fondled his penis. The suit alleges Combs masturbated while he groped the contestant and told him that he had the ability to “make or break” his career.

Persons: Sean “ Diddy ” Combs, Tony Buzbee, Andrew Van Arsdale, Combs, Buzbee, “, ” Buzbee, Sean Diddy Combs, Elizabeth Conley, ”, we’ve, ” Combs, sodomized, Van Arsdale, Cassie, Casandra Ventura Organizations: Houston, Getty, MTV, NBC Locations: New York, California, Texas, Houston, New York City

☆ America’s largest newspaper chain, including USA Today, won’t endorse in 2024 presidential race
▼ + stars: | 2024-10-29 | by ( Liam Reilly | ) edition.cnn.com time to read: +4 min

New York CNN —Gannett, owner of the nation’s largest newspaper chain, announced that its more than 200 publications, including USA Today, will not publish presidential endorsements in the run-up to the November 5 election. The newspapers aren’t alone in declining to publish presidential endorsement in the 2024 race. “Until now.”In 2020, USA Today again broke with its own tradition, this time offering its first full-throated endorsement for Joe Biden’s candidacy. David Mastio, who was part of the USA Today opinion team that published the 2020 endorsement of Biden, called the decision deeply disappointing. “I am deeply disappointed that USA TODAY has lost its voice at this critical time for our country.”

Persons: New York CNN —, Gannett, ”, Lark, Marie Antón, Kristin Roberts, Roberts, Gannett Media newsrooms, ” Antón, Kamala Harris, Donald Trump “, Hillary Clinton ”, “, ” “ We’ve, Joe Biden’s, Ronald Reagan, David Mastio, Biden, ” Mastio Organizations: New, New York CNN, New York CNN — Gannett, USA, USA Today Network, ” Gannett, CNN, Gannett Media, USA Today, Gannett, The Arizona Republic, Detroit Free Press, Los Angeles Times, The Washington Locations: New York, USA, “

☆ We upgraded Stanley Black & Decker stock despite the post-earnings selling
▼ + stars: | 2024-10-29 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Stanley Black & Decker reported mixed quarterly results before Tuesday's opening bell, and the stock got whacked. SWK YTD mountain Stanley Black & Decker YTD Shares of Stanley Black & Decker consolidated around an 8% decline after the release. We upgraded Stanley Black & Decker on Tuesday morning back to our buy-equivalent 1 rating on the belief the stock reaction to the print was overdone. Stanley Black & Decker Why we own it: Stanley Black & Decker is in the later innings of a multi-year restructuring plan. To honor the occasion, Donald Allan, Jr., President & CEO of Stanley Black & Decker, joined by Chris Taylor, NYSE Global Head of Advisory, rings the Opening Bell®.

Persons: Stanley Black, Decker, Stanley, Donald Allan, we're, Allan, —, Jim Cramer's, Jim Cramer, Jim, Donald Allan , Jr, Chris Taylor Organizations: Revenue, Stanley Black, Treasury, Federal, Bosch, Techtronic Industries, Management, CNBC, The New York Stock Exchange, NYSE Global Locations: Dewalt, Europe

☆ Here are Tuesday's biggest analyst calls of the day: Apple, Netflix, Tesla, Meta, Uber, Amazon, Walmart, First Solar & more
▼ + stars: | 2024-10-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Tuesday: Evercore ISI reiterates Amazon as overweight Evercore says it's sticking with the stock ahead of earnings later this week. Evercore ISI reiterates Uber as overweight Evercore says it's bullish on Uber heading into earnings on Thursday. Janney upgrades First Solar to buy from neutral Janney says the solar company is attractive ahead of earnings on Tuesday afternoon. " Evercore ISI reiterates Meta as overweight Evercore says it's sticking with Meta ahead of earnings on Wednesday. Barclays reiterates Tesla as equal weight Barclays raised its price target on the stock to $235 per share from $220.

Persons: Evercore, Uber, it's bullish, Janney, Goldman Sachs, Ford, Goldman, Wells, Tesla, Morgan Stanley, Bernstein, TD Cowen, Cowen, it's, Mizuho, Stephens, ROA, Guggenheim, HOOD, we've Organizations: Ford, CTV, APP, Citi, Apple, Apple Intelligence, Barclays, Walmart, Mizuho, Netflix, Guggenheim, Six Flags Entertainment Locations: Mexican, Brazil, Mexico, China, U.S

☆ Alphabet's two pillars of growth stand tall in the latest quarter. But we're not ready to act
▼ + stars: | 2024-10-29 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

However, on "Mad Money" following the release, Jim said Alphabet delivered an "unambiguously great quarter." Alphabet Why we own it : Alphabet's Google Search is an invaluable tool for advertisers. Revenue for the Google Search, YouTube ads, and Google Network line items totaled $65.85 billion. That was up more than 10% from the year-ago quarter, though it was a slower growth rate than in the second quarter. The company exited the quarter with $93.23 billion in cash, cash equivalents, and marketable securities on its balance sheet.

Persons: It's, Jim Cramer, Jim, it's, Sundar Pichai, We're, Waymo, Anat Ashkenazi, Pichai, Jim Cramer's, Justin Sullivan Organizations: Google, U.S, European, Justice Department, Big Tech, Nvidia, YouTube, Microsoft, Revenue, Google Services, Walmart, Dallas Fort, CNBC Locations: U.S, Dallas, Dallas Fort Worth, Mountain View , California

☆ Larry Fink says the Fed won't cut interest rates as much as markets expect this year
▼ + stars: | 2024-10-29 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

The U.S. Federal Reserve won't cut interest rates as much as markets expect because "embedded inflation" is too high, Blackrock CEO Larry Fink said Tuesday, speaking at a CEO-studded panel in Riyadh, Saudi Arabia. The Biden administration's legislation, such as the Inflation Reduction Act and the Infrastructure Investment and Jobs Act, have pushed those efforts forward. "Today, I think we have governmental policies that are embedded inflationary, and, with that being said, we're not gonna see interest rates as low as people are forecasting," Fink said. The Fed cut its benchmark rate by 50 basis points in September, signaling a turning point in its management of the U.S. economy and in its outlook for inflation. In late-September reports, strategists at J.P. Morgan and Fitch Ratings predicted two additional interest rate cuts by the end of 2024, and expect such reductions to continue into 2025.

Persons: Andrew Ross Sorkin, Larry Fink, Saudi Arabia . Fink, " Fink, onshoring, we're, Fink, Morgan, Goldman Sachs, Carlyle, Morgan Stanley Organizations: BlackRock, New York Times DealBook, Jazz, Lincoln Center, U.S . Federal, Blackrock, Saudi, Future Investment Initiative, Biden, Infrastructure Investment, Jobs, Fed, Fitch, U.S . Bureau of Labor Statistics, Standard Chartered Locations: New York City, Riyadh, Saudi Arabia, China, U.S

☆ Washington Post loses a reported 200K digital subscriptions, 3 editorial board members over endorsement veto
▼ + stars: | 2024-10-28 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

The Washington Post Building at One Franklin Square Building on June 5, 2024 in Washington, DC. The Washington Post reportedly has lost more than 200,000 digital subscriptions, and three members of its editorial board have stepped down on the heels of its decision not to endorse a candidate in the presidential election between Vice President Kamala Harris and former President Donald Trump. That is the same number of editorial board members who resigned from the Los Angeles Times' board in protest of that newspaper's decision not to endorse a presidential candidate. A Post spokesperson declined to comment on either the subscription losses or editorial board resignations when contacted Monday by CNBC. The Post's editorial page had planned to endorse Harris, the Democratic nominee, according to the newspaper's own reporting.

Persons: Kamala Harris, Donald Trump, NPR's David Folkenflik, Molly Roberts, David Hoffman, Mili Mitra, Joe Biden, Will Lewis, Jeff Bezos, Harris Organizations: Washington Post, Franklin, Los Angeles Times, CNBC, Gannett, Trump, Amazon, Democratic Locations: Washington ,, United States

☆ The Bezos-Washington Post crisis is getting worse
▼ + stars: | 2024-10-28 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

The Washington Post said Friday it wouldn't endorse a presidential candidate. Reports suggest Jeff Bezos, who owns the Post, made the decision not to endorse a candidate. More than 200,000 people have canceled their Post subscriptions since Friday, NPR's David Folkenflik reported Monday, citing two knowledgeable sources. A Washington Post spokesperson declined to comment. The New York Times reported on Sunday that Jeff Bezos, the Washington Post's owner since 2013, voiced reservations in late September about running an endorsement.

Persons: Jeff Bezos, —, NPR's David Folkenflik, Will Lewis, Lewis, David Hoffman, Molly Roberts, Michele Norris, Robert Kagan, Donald Trump, David Shipley, Mr, Bezos, Shipley Organizations: Washington Post, NPR, Service, Post, Los Angeles Times, New York Times, Washington, Times Locations: Washington

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Tesla, Spotify Walmart, Nio, Broadcom Roblox & more
▼ + stars: | 2024-10-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Morgan Stanley initiates FrontView REIT as overweight Morgan Stanley said the commercial real estate investment trust company is well positioned. " Morgan Stanley downgrades Global Foundries to equal weight from overweight Morgan Stanley said it sees rising competition for the semis company. " Morgan Stanley upgrades Nutanix to overweight from equal weight Morgan Stanley said the cloud computing software company is well positioned. " Morgan Stanley downgrades Ciena to equal weight from overweight Morgan Stanley said it sees a more balanced risk/reward for the networking and systems software company. Wedbush adds Roblox to the best ideas list The firm said it sees robust revenue growth ahead.

Persons: Cantor Fitzgerald, Morgan Stanley, FrontView, Baird, AAON, Canaccord, Tesla, Jefferies, NTNX, Wells, Raymond James downgrades, Wolfe, DOV, Morgan Stanley downgrades Ciena, Piper Sandler, Bowlero, Piper, Goldman Sachs, Goldman, it's bullish, Marcellus, Bernstein, SARO, Stifel downgrades, Oppenheimer, Monness Crespi Hardt, Coinbase, Stifel, it's Organizations: Nvidia, Broadcom, MU, JPMorgan, Apple, Dell, Cisco, Spotify, Honeywell, Walmart, " Bank of America, Antero Resources, Bank of America, Macquarie, China EV, Stifel downgrades Colgate, Palmolive, Colgate, Commerce, ~$ Locations: AVGO, 1H25, Dover, Appalachia, Utica, West Virginia

☆ Lizzo’s Halloween costume draws inspiration from ‘South Park’ episode that referenced her and the weight-loss drug Ozempic
▼ + stars: | 2024-10-26 | by ( Dan Heching | ) edition.cnn.com time to read: +2 min

CNN —Lizzo has taken a rather silly reference to her on a recent “South Park” episode and elevated it to a hilarious Halloween costume. In her first picture, Lizzo posed in an old-school-style print ad that asked, “Need self love? Lose guilt, gain self confidence.” Her caption for the post read, “Ok Halloween… you can start now.”Subsequent posts included a video snippet showing Lizzo dancing in her costume in front of a cutout of “South Park” character Cartman, as audio from the show’s Ozempic episode played. “Lizzo helps you eat everything you want and keep physical activity to a minimum… Ask about the power of not giving a f**k, with Lizzo,” the commercial adds, along with a series of side effects. Lizzo has long advocated for body positivity and spoken out about the body shaming she faces on social media.

Persons: CNN — Lizzo, Lizzo, Cartman, ”, Sharon, Sheila, “, “ Lizzo, ” “, Trey Parker, Matt Stone, CNN’s Lisa Respers Organizations: CNN, FDA, University of Colorado Boulder Locations: Colorado, Lizzo, CNN’s Lisa Respers France

☆ TikTok's innovative new idea: printing books on paper
▼ + stars: | 2024-10-26 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

ByteDance's publishing company, 8th Note Press, plans to release physical books. After the monumental success of "BookTok" — a community of bibliophiles on the platform that discusses books and shares what they are reading — TikTok's parent company, ByteDance, started publishing digital books through its publishing company, 8th Note Press, last year. 8th Note Press is now teaming up with Zando, an independent publishing company, to release a line of print novels to sell in retail stores starting in 2025. "This partnership marks an exciting new chapter for 8th Note Press," Jacob Bronstein, head of editorial and marketing, told Business Insider in a statement. Debut novelist Sanibel — who writes under a mononym — sold her book "To Have and Have More" to 8th Note Press last year.

Persons: —, TikTok, Jacob Bronstein, we'll, Molly Stern, Colleen Hoover's, Taylor, Zando, Sanibel — Organizations: Press, Service, The New York Times, Times, Zando Locations: bibliophiles

In North Carolina, the signs read in Spanish, “WARNING: if you are not a citizen of the United States of America, you cannot vote in elections. Earlier this week, Forward Justice addressed a letter to the North Carolina State Board of Elections, calling for the signs to be removed because they constitute "unlawful voter intimidation." The letter was co-signed by nearly two dozen organizations, including the North Carolina chapter of the American Civil Liberties Union. It’s already illegal for noncitizens to vote in elections in North Carolina and at the federal level — and illegal voting rarely happens. Early voting in North Carolina ends on Nov. 2.

Persons: it's, “, ”, Cleta Mitchell, Mitchell, Donald Trump’s, Kathleen Roblez, hotlines, Jaclyn Maffetore, Maffetore, Spanish Jim Womack, Womack Organizations: North, Democratic Oklahoma, Forward Justice, North Carolina State Board, American Civil Liberties Union, ACLU, noncitizens, Brennan, Cato Institute, Heritage Foundation, GOP, Homeland Locations: North Carolina, United States of America, Durham County, U.S, Spanish, Lee County

Counterfeiting has ballooned into a massive problem for Crye, costing it millions of dollars a year, said Jonathan Antone, the company's general counsel. By 2016, sellers were speaking out about Amazon's growing counterfeit problem, telling CNBC of the company's effort to openly court Chinese manufacturers. "There's a lot more space on that digital shelf for potential counterfeit products," he added. Agents seized "multiple tractor trailer loads" of counterfeit MultiCam products, estimated to be worth $8 million, according to court documents. Crye showed CNBC examples of counterfeit MultiCam products that were allegedly sold by retailer L&Q Tactical, one of the defendants in the lawsuit, on Amazon.

Persons: Ramin Kohanbash, Bernard Klein, Jonathan Antone, Crye, It's, it's, Counterfeits, Jason Goldberg, Goldberg, counterfeits, Kebharu Smith, Jeff Bezos, Bezos, Smith, We're, Antone, Ernesto Rodriguez, Crye's, Crye Precision's Ernesto Rodriguez Organizations: New York's Brooklyn Navy Yard, California, outfitters, California Surplus, CNBC, Amazon, Brand Registry, Justice Department, FBI, Prada, Homeland Security, Department of Defense, Agents, Crye Locations: New, New Jersey, America, Brooklyn, Brooklyn , New York, Arlington , Virginia, Texas, California

☆ Fact check: How Trump’s TV ads deceive viewers with misleadingly edited quotes
▼ + stars: | 2024-10-25 | by ( Daniel Dale | ) edition.cnn.com time to read: +7 min

Washington CNN —Former President Donald Trump’s late-campaign television ads are littered with deceptively edited and misleadingly described quotations. Multiple Trump ads omit critical words from quotes by and about Vice President Kamala Harris on the subject of tax policy. One Trump ad misleadingly depicts comments about fracking from Trump’s campaign and administration as if they were comments from independent news organizations. Tactic: Cutting out key wordsOne Trump ad deletes critical words from two separate quotes on Harris’ tax policies. Those ads feature on-screen text saying “Harris would raise taxes,” attributing those words to a CBS News article.

Persons: Donald Trump’s, Kamala Harris, Trump, Harris, Karoline Leavitt, ”, —, “ Harris, Joe Biden, Harris –, Dan Brouillette, “, Biden, can’t, “ Biden, ’ Organizations: Washington CNN, Trump, Biden, Customs, “, AdImpact, New York Times, Times, CBS, Reuters, E, Energy, Welfare, illegals, NBC, Newsweek, Customs Enforcement, CNN, ICE Locations: Pennsylvania, Michigan

☆ Two more Los Angeles Times editorial board members resign amid turmoil over blocked Harris endorsement
▼ + stars: | 2024-10-25 | by ( Jon Passantino | ) edition.cnn.com time to read: +4 min

CNN —Two more members of the Los Angeles Times editorial board resigned Thursday after the newspaper’s owner blocked an endorsement of Vice President Kamala Harris, a contentious decision that has engulfed the publication in turmoil. Robert Greene, a Pulitzer Prize-winning editorial writer, resigned from his position over billionaire Times owner Patrick Soon-Shiong’s decision to veto the planned endorsement, he confirmed to CNN. The departures come one day after Mariel Garza, the leader of the Times’ editorial board, resigned over Soon-Shiong’s directive not to endorse Harris in the presidential race. Done.”The Los Angeles Times is California’s most widely circulated newspaper and one of the nation’s largest, with a Sunday print circulation of 1.6 million. “We remain deeply concerned about The Times’s owner’s decision to block a planned endorsement, and his statement that unfairly shifts blame onto editorial board members.

Persons: Kamala Harris, Robert Greene, Patrick Soon, Greene, holistically, “, ”, Harris, Donald Trump, ” Karin Klein, Klein, Mariel Garza, Shiong, Trump, Barack Obama, she’s, Garza, craven, — Organizations: CNN, Los Angeles Times, ”, Facebook, Trump, White, Columbia Journalism Locations: Angeles

Mārtiņš Kazāks, Bank of Latviawatch nowOn a 50-basis-point rate cut: "Well, everything should be on the table, you know, given what the data tells us. Klaas Knot, Netherlands central bankwatch now"Are we risking a structural undershoot of our inflation target? Joachim Nagel, German central bankwatch nowOn rate cuts: "This discussion about 25 or maybe something different is not helpful. On rate cuts: "The direction is clear. Gediminas Šimkus, Bank of Lithuaniawatch nowOn rate cuts: "We are clearly moving ... towards the direction of easing monetary policy.

Persons: Karen Tso, Pierre Wunsch, I'm, we've, Mario Centeno, Klaas, It's, Robert Holzmann, Joachim Nagel, disinflation, Volcker, Olli Rehn, it's, Gediminas Šimkus, Boris Vujčić Organizations: European Central Bank, International Monetary, Bank of Latvia, National Bank of Belgium, Bank of Portugal, Austrian National Bank, Bank of France, Bank of Finland, Bank of Lithuania, Croatian National Bank Locations: Washington ,, Kazāks, Netherlands, German, Galhau, Europe

☆ Elon Musk’s super PAC awards $1 million prizes to 2 registered voters, despite DOJ warning
▼ + stars: | 2024-10-25 | by ( Marshall Cohen | ) edition.cnn.com time to read: +3 min

CNN —Elon Musk’s super PAC awarded two $1 million prizes to registered voters in Michigan and Wisconsin on Thursday, after being warned by the Justice Department that the payments might be illegal. Musk, the CEO of Tesla and the richest man in the world, launched the sweepstakes on Saturday and his super PAC had named a winner each day – until Wednesday. The group has not provided any public explanation for the apparent one-day pause, and a spokesperson for the super PAC declined to comment. Federal filings show Musk has given nearly $119 million – including about $44 million in October – to America PAC, the super PAC he helped form to reelect Trump. He has said he hopes the sweepstakes will boost registration among Trump voters.

Persons: CNN — Elon, Donald Trump, Tesla, It’s, Musk, Josh Shapiro, reelect Trump, Trump, Betsy DeVos, Kamala Harris ’, CNN’s David Wright Organizations: CNN, CNN — Elon Musk’s, Justice Department, PAC, Trump, ”, Pennsylvania, Democrat, America PAC Locations: Michigan, Wisconsin, Pennsylvania, –

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