DIRS.INFO The most relevant business & tech news

☆ Dozens of retailers jacked up interest rates on store cards ahead of Fed cuts
▼ + stars: | 2024-11-22 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

Now we see it's very common for these store cards to charge over 30%." Just before the Fed began its rate-cutting cycle in September, many retailers and their bank partners raised interest rates on their store cards to protect their profits when the federal funds rate — which determines their own interest rates — came down. Now, the average interest rate on a store card is at an all-time high just ahead of the holiday shopping season, which is when most consumers sign up for store cards. That was less than half of the interest rate increase for store cards seen from September 2023 to September 2024, when the federal funds rate didn't budge. When asked why they increased the APR on their store cards, the companies that returned CNBC's request for comment pointed vaguely to industry standards and the current economic environment.

Persons: Tommy, Petco, Ted Rossman, it's, Jasmine Matheney, Nordstrom, Matheney, you've, preemptively Organizations: U.S, Federal Reserve, Navy, Academy Sports, Fed, CNBC, Comenity Bank, Big Lots Locations: Petco, Burlington, Macy's, Michael's, Michigan

CNN —President-elect Donald Trump on Friday announced his picks for critical remaining public health roles in his incoming administration. He or she also serves as vice admiral of the US Public Health Service Commissioned Corps, overseeing this group of uniformed officers who seek to promote the nation’s health. “And if you remember, under the President Trump administration’s leadership, you’ll recall that we had incredible public health policies, President Trump’s unparalled creation of Operation Warp Speed was one like we’ve never seen before. Chan School of Public Health. “The superiority of natural immunity over vaccinated immunity is clear.”CDC directorThe director of the CDC leads the nation’s foremost public health agency, which deals with disease prevention and control and environmental health.

Persons: Donald Trump, Trump, Janette Nesheiwat, Marty Makary, Dave Weldon, Robert F, Kennedy Jr, Trump’s, Kennedy, CNN’s Kaitlan Collins, “ We’re, ” Nesheiwat, you’ll, we’ve, Johns Hopkins, Makary, ”, Weldon, “, Terri Schiavo, Brian Stelter, Meg Tirrell Organizations: CNN, Friday, Food and Drug Administration, US Centers for Disease Control, National Institutes of Health, US Department of Health, Human Services, Senate, CDC, US Public Health Service, Corps, Fox News, American Board of Family Medicine, American University of, University of Arkansas, Medical Sciences, FDA, Johns Hopkins University, Sidney Kimmel Medical College of Thomas Jefferson University, Harvard, of Public Health, National Academy of Medicine, World Health Organization, Street, Journal, Agency, Toxic Substances, SUNY, Army, Letterman Army Medical Center, Army Reserve, American Board of Internal Medicine, Assurance, Agency for Vaccine, HHS, Disease Control Locations: Florida, Caribbean, St, Maarten, New York, Chan, Buffalo

☆ Inside the push for dietary guidance on ultraprocessed foods — and why it’s failing right now
▼ + stars: | 2024-11-22 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +22 min

These additives, along with high levels of sugar, salt and fat, help create the overwhelming lure of ultraprocessed foods. Ultraprocessed foods are typically high in added sugars, fats and salt; low in dietary fiber; and full of chemical additives, such as artificial colors, flavors and stabilizers. “There’s a lot of debate about whether or not all ultraprocessed foods are bad for you,” Hall said. Reduce intake of ultraprocessed foods — it’s really that simple.”Unfortunately, advisory committees are instructed to make recommendations using only the strictest science, Nestle added. It takes two overflowing trays of a mix of minimal and ultraprocessed foods to match the same energy density as one trayful of ultraprocessed foods.

Persons: Sam Srisatta, Srisatta, ”, Kevin Hall, Bert Lahr, Oz, “, Jeff Greenberg, ” Hall, Marion Nestle, Paulette Goddard, Nestle, Hall, ” Nestle, “ It’s, It’s, LaMotte, Walter Willett, ” Willett, Dr, Fatima Cody Stanford, ’ ” Stanford, Deirdre Tobias, ” Tobias, Robert F, Kennedy Jr, Donald Trump’s, Kennedy, Bonnie Liebman, Liebman, they’ve, ” It’s, Kevin Hall’s, it’s, ” Srisatta, Sara Turner, ” Turner, Tera Fazzino, Fazzino, Sam Srisatta’s, won’t Organizations: CNN, Unit, National Institutes of Health Clinical, National Institute of Diabetes, Diseases, Cowardly, US Food and Drug Administration, Universal, FDA, Volunteers, Nutrition, Food Studies, Public Health, New York University, “, World Health Organization, US Department of Agriculture, US Department of Health, Human Services, Harvard, of Public Health, Disease Prevention, Health, Harvard Medical School, Massachusetts General Hospital, ‘, ’, Brigham, Women’s Hospital, Assistance, SNAP, Center for Science, NIH, University of Kansas Locations: Bethesda , Maryland, Bethesda, Japan, United States, Chan, Boston, Massachusetts

☆ Kendrick Lamar Surprise Releases a New Album, ‘GNX’
▼ + stars: | 2024-11-22 | by ( Ben Sisario | More About Ben Sisario | ) www.nytimes.com time to read: +1 min

Kendrick Lamar, the rapper laureate and one of the music world’s least predictable stars, released a surprise new album, “GNX,” on Friday. It is the sixth studio album by Lamar, 37, who won the Pulitzer Prize for Music in 2018 and, even before releasing the album, has been having a banner year. On the cover, Lamar slouches against the rear of the vehicle, and the video — with swelling strings and Lamar’s multi-tracked, rapid-fire vocals — shows Lamar with the car in an empty, monumental space. 6,” the latest in a series of tracks with similar titles, which has become a Lamar signature. It is also an implicit rejoinder against Drake, who had released a diss track in May called “The Heart Part 6.”

Persons: Kendrick Lamar, ”, Lamar, Drake, —, “, Lamar slouches Organizations: Music Locations: Lamar

☆ The Pentagon's battle inside the U.S. for control of a new Cyber Force
▼ + stars: | 2024-11-22 | by ( Barbara Booth | ) www.cnbc.com time to read: +8 min

The revelations highlight the rising cyberthreats tied to geopolitics and nation-state actor rivals of the U.S., but inside the federal government, there's disagreement on how to fight back, with some advocates calling for the creation of an independent federal U.S. Cyber Force. Talent shortages, inconsistent training, and misaligned missions, are undermining CYBERCOM's capacity to respond effectively to complex cyber threats, it says. Known for his assertive national security measures, Trump's 2018 National Cyber Strategy emphasized embedding cyber capabilities across all elements of national power and focusing on cross-departmental coordination and public-private partnerships rather than creating a standalone cyber entity. Austin Berglas, a former head of the FBI's cyber program in New York who worked on consolidation efforts inside the Bureau, believes a separate cyber force could enhance U.S. capabilities by centralizing resources and priorities. "When I first took over the [FBI] cyber program … the assets were scattered," said Berglas, who is now the global head of professional services at supply chain cyber defense company BlueVoyant.

Persons: Ronald Reagan, Donald Trump, J.D, Vance, Mark Warner of Virginia, Paul Nakasone, Nakasone, Trump, Kristi Noem, Jen, John Cohen, Cohen, Austin Berglas, Berglas Organizations: Ronald Reagan Washington National Airport, Pentagon, U.S . Department of Defense, Senate Intelligence, New York Times, U.S . Cyber Force, Department of Defense, Foundation for Defense of Democracies, U.S . Cyber Command, Army, Navy, Air Force, Cyber Command, Department of Homeland Security, of Defense, of Homeland Security, Trump, Energy Department, Infrastructure Security Agency, Command, U.S, Center for Internet Security, CYBERCOM, Mission Force, Force Locations: ARLINGTON, VIRGINIA, Ronald Reagan Washington, Arlington , Virginia, China, U.S, America, Dakota, stovepipes, Russia, New York, Iran, North Korea

☆ 'Shark Tank' investor Barbara Corcoran says young people's dreams of buying a home are being crushed
▼ + stars: | 2024-11-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

AdvertisementBarbara Corcoran says it's "disturbing" how young people are being locked out of the housing market. The "Shark Tank" investor pointed to first-time buyers getting older and losing out to cash buyers. High prices, steep mortgage rates, and fierce competition are locking young people out of becoming homeowners, Barbara Corcoran says. Plus, the median age of first-time buyers climbed from 35 to 38. Corcoran also dismissed concerns that the housing market is overheated and headed for a slump.

Persons: Barbara Corcoran, Corcoran, Trump, Sellers, —, they're, Trump's Organizations: Fox Business Network, The Corcoran Group, National Association of Realtors

☆ Can RFK Jr. Limit Ozempic Access as HHS Chief? Here’s What to Know
▼ + stars: | 2024-11-22 | by ( Gina Kolata | More About Gina Kolata | ) www.nytimes.com time to read: +1 min

Mr. Kennedy has not said he will limit access to Ozempic or other drugs. He did not reply to requests for comment about what he may do as secretary of health and human services. Can a health secretary reverse a drug’s approval? The Food and Drug Administration is part of the Health and Human Services Department, but the secretary does not directly approve drugs. Any attempt to withdraw the approval of the obesity drugs would have to be initiated by the F.D.A.

Persons: Robert F, Kennedy Jr, ”, Greg Gutfeld, Donald J, Trump, Kennedy Organizations: Fox News, Novo Nordisk, of Health, Human Services, Drug Administration, Health, Human Services Department

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Nike, Microsoft, Flutter, Amazon, Arm, Affirm, AbbVie & more
▼ + stars: | 2024-11-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Friday's biggest calls on Wall Street: Goldman Sachs initiates Flutter as buy Goldman said the online gambling company is well positioned. " Redburn Atlantic Equities reiterates Microsoft as buy The firm said investors should buy the dip in Microsoft shares. Baird upgrades KinderCare to outperform from neutral Baird said investors should buy the dip in shares of the daycare company. Baird upgrades Bright Horizons to outperform from neutral Baird said the daycare company is well positioned. Baird upgrades Elastic to outperform from neutral Baird said the software company is an AI beneficiary.

Persons: Goldman Sachs, Goldman, Piper Sandler downgrades Sunrun, Piper, KeyBanc, Baird, Klarna, Phillip, JPMorgan, it's, Carpenter, Needham, it's bullish, John Donohoe, Elliott Hill, they've, Wells, Truist, Leerink Organizations: Citi, Apple, UBS, Microsoft, RBC, Bank of America, Apple Pay, Phillip Securities, Nvidia, Carpenter Technology, JPMorgan, Nike, " Bank of America, KD, Semiconductors, Global Business Travel Group Locations: 2H25, North America

☆ Trump's Cabinet selection is off to a rocky start: From the Politics Desk
▼ + stars: | 2024-11-21 | by ( The Politics Desk | ) www.nbcnews.com time to read: +8 min

But it’s not even Thanksgiving, and Donald Trump is already looking for a backup top law enforcement officer after Matt Gaetz withdrew his AG bid Thursday. The last time around, Trump lost just one of his initial Cabinet picks, when Andrew Puzder withdrew as the labor secretary nominee in February 2017. ➡️ More on the Trump transitionAside from Gaetz, two of Trump’s other Cabinet picks, Hegseth and Kennedy, have also faced serious allegations of sexual impropriety, which they have both denied. 🗞️ Today’s other top stories 👀 Buckeye State battle brewing: The jockeying for JD Vance’s Ohio Senate seat has begun, and the potential candidates’ statements about Trump’s Cabinet picks are being closely watched. Read more →The jockeying for JD Vance’s Ohio Senate seat has begun, and the potential candidates’ statements about Trump’s Cabinet picks are being closely watched.

Persons: Matt Gaetz, Jonathan Allen, Henry J, Gomez, Olympia Sonnier, Jake Traylor, Julie Tsirkin Matt Gaetz’s, Donald Trump, ”, Gaetz, MAGA, Trump, Sens, Mitch McConnell of, Lisa Murkowski, Susan Collins of, Markwayne Mullin, John Curtis of Utah, Read, Jonathan Allen It’s, George H.W, Texas Sen, John Tower, it’s, — Trump, Bill Clinton’s, Zoë Baird, Kimba Wood, Pete Hegseth, Tulsi Gabbard, Robert F, Kennedy Jr, Barack Obama’s, Tom Daschle, Bill Richardson, Judd Gregg, Andrew Puzder, ➡️, Hegseth, Kennedy, Mehmet Oz, El Organizations: NBC, White House, Capitol, Republican, The Justice Department, Republicans, Gaetz, Pentagon, Former Fox News, Human Services, Commerce, ., Medicare, Services Locations: Florida, Washington, Trump, Mitch McConnell of Kentucky, Alaska, Susan Collins of Maine, Oklahoma, Texas, Obamacare

☆ Vaccination rates for flu and Covid are low this season, CDC says
▼ + stars: | 2024-11-21 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

As of Nov. 9, an estimated 35% of U.S. adults had gotten the new flu vaccine, and nearly 18% had received the new Covid vaccines, CDC data shows. The vaccination rate for the flu as of October was roughly equivalent to the same time last year, the CDC found. The rate of Covid vaccination is also similar to last November, around 15%. The new CDC report warns that flu, Covid and RSV can cause serious illness, particularly for people ages 65 and up and those with certain medical conditions. A second CDC report released Thursday found low vaccination coverage among residents of nursing homes.

Persons: Donald Trump, Robert F, Kennedy Jr, Pediatricians Organizations: Centers for Disease Control, CDC Locations: U.S

Matt Gaetz’s withdrawal Thursday as a candidate for attorney general illustrates the roadblocks President-elect Donald Trump could face as he attempts to convert his campaign of “retribution” into a governing coalition capable of working within the realities of Washington. In Gaetz, Trump would finally get the loyal attorney general he felt like he never had in his first term. But it was a tough sell from the moment Trump announced Gaetz as his choice eight days ago — in a pick that shocked much of Washington. In the end, it was the “combination of the ethics report and opposition among Senate Republicans,” that doomed Gaetz’s candidacy, a senior Senate aide told NBC News. Before Gaetz’s withdrawal Thursday, Trump allies were pushing hard on GOP senators and other ambitious Republicans to publicly support his embattled Cabinet picks.

Persons: Matt Gaetz’s, Donald Trump, ”, Gaetz, MAGA, Trump, “, Vance, ” Gaetz, Sens, Mitch McConnell of, Lisa Murkowski, Susan Collins of, Markwayne Mullin, John Curtis of Utah, JD Vance, ” Sen, Mike Rounds, ” Rounds, Pete Hegseth, shouldn’t, Robert F, Kennedy Jr, Tulsi Gabbard, Matt, they’re Organizations: Republican, The Justice Department, Republicans, NBC News, Trump, Capitol, Gaetz, “, Senate, Fox News, Justice Department Locations: Washington, Florida, Trump, Mitch McConnell of Kentucky, Alaska, Susan Collins of Maine, Oklahoma, Ohio, Hawaii

The search for Vice President-elect JD Vance’s successor in the Senate is reinforcing a rift among Ohio Republicans, whose loyalties are divided between the establishment-friendly Gov. Vance has consulted with DeWine on the Senate appointment, two sources familiar with the discussions said. When asked if Trump’s Cabinet picks were a part of DeWine’s considerations, Tierney emphasized the governor’s wish that his pick be able to win the GOP primary that year. Moreno, for his part, singled out Gaetz, Gabbard, Hegseth and Kennedy this week in a statement pledging to support Trump’s Cabinet choices. “The American people delivered President Trump a mandate, and it is crucial that Senate Republicans confirm his nominees quickly,” he said.

Persons: JD Vance’s, Mike DeWine, Donald Trump, DeWine, Vance, ”, Dan Tierney, “, Trump’s, Trump, Pete Hegseth, shouldn’t, Robert F, Kennedy Jr, Tulsi Gabbard, Matt Gaetz, Gaetz, Hegseth, “ We’re, Kennedy, Robert Sprague, Frank LaRose, they’ll, Dan Lusheck, Lusheck, Mike Carey, Carey, Justice Department “, ” Carey, “ I’d, Jay Edwards, ” Mehek Cooke, John Kasich’s, ” Cooke, Jane Timken, Jon Husted —, —, Tierney, Sprague, Dave Yost, Yost, Vivek Ramaswamy, Elon Musk, ” Tierney, Timken, Sen, Matt Dolan, Dolan, Bernie Moreno, Moreno, LaRose, Democratic Sen, Sherrod Brown Organizations: Ohio Republicans, Trump, NBC News, GOP, Fox News, Justice Department, “, U.S, Spectrum, Gov, Republican, Democrat, Republican National Committee, Senate, Democratic, America Locations: Ohio, Hawaii, Florida, Hegseth, Washington, DeWine

The conviction against actor Jussie Smollett for falsely reporting a hate crime to Chicago police in 2019 has been overturned by the Illinois Supreme Court over prosecutorial issues. The judges noted that the case generated "significant public interest" and many felt the case's original resolution was unjust. But the Chicago Police Department later said that Smollett recruited the brothers to help him stage the attack. Smollett was arrested in February 2019 and indicted that March on 16 felony counts over allegedly filing a false police report. Both brothers said during the trial that Smollett hired them to stage an attack as a ploy for public attention, noting a $3,500 check Smollett paid them.

Persons: Jussie Smollett, Dan Webb, Smollett, ”, —, ” Webb, Ola, Abimbola Osundairo —, Chicago Mayor Rahm Emanuel, Kimberly Foxx, Emanuel, Abimbola Osundairo Organizations: Chicago police, Illinois Supreme, Chicago Police Department, Chicago Mayor Locations: Cook, Illinois, Chicago’s Streeterville

Washington state is reeling following a powerful “bomb cyclone” that left two dead, knocked out power to half a million at its peak and downed trees and power lines. The Pacific Northwest was battered by the storm, which formed off the coast Tuesday and brought high winds, rain and heavy mountain snow to Washington. ET Thursday, there are over 320,000 customers without power in Washington, according to PowerOutage.Us. Meanwhile, a strong atmospheric river event is also impacting Northern California and southwestern Oregon, with flood watches in effect for 2 million people. This will lead to storm totals of 12 to 16 inches by the time the storm winds down by the weekend.

Persons: Tiffani Palpong, Mathieu Lewis, Rolland, Getty, It’s Organizations: Puget Sound Energy, PT, Rockies, National Weather Service, Golden State, Atmospheric Administration, Acorn Locations: Washington, Pacific, Seattle, Lynnwood, South County, Snohomish County, Bellevue, Lake Stevens, Oregon, Northern California, Mattole, California, , California, Austin Creek, Area , California

☆ CFPB expands oversight of digital payments services including Apple Pay, Cash App, PayPal and Zelle
▼ + stars: | 2024-11-21 | by ( Hugh Son | ) www.nbcnews.com time to read: +3 min

The Consumer Financial Protection Bureau on Thursday issued a finalized version of a rule saying it will soon supervise nonbank firms that offer financial services likes payments and wallet apps. That would include payments services from Apple, Google and Amazon, as well as fintech firms including PayPal and Block and peer-to-peer services Venmo and Zelle. While the CFPB already had some authority over digital payment companies because of its oversight of electronic fund transfers, the new rule allows it to treat tech companies more like banks. “Digital payments have gone from novelty to necessity and our oversight must reflect this reality,” said CFPB Director Rohit Chopra. The CFPB said the rule will take effect 30 days after its publication in the Federal Register.

Persons: ”, Rohit Chopra, CFPB, Trump Organizations: Consumer Financial, Tech, Apple, Google, PayPal, “, Federal

Stop & Shop spokesperson Caroline Medeiros said that despite the limited number of products, Stop & Shop stores and pharmacies are still open and operating as the chain works to restock its shelves and anticipate item availability. “At my personal Stop & Shop, I noticed that there wasn’t a lot of chicken, ground turkey. A user showed pictures on a Facebook from a Stop & Shop in Pittsfield, Massachusetts with rows of empty shelves and wrote “Avoid Stop and Shop… their shelves are empty.” A user on TikTok posted a video with over 40 thousand views of the empty shelves in a Stop & Shop in South Boston. Many in the comments of both posts said they had been confronted with similar scenes at other Stop & Shop locations. “Stop & Shop is well stocked with turkeys and hams for the upcoming Thanksgiving holiday, along with staples like potatoes, gravy, and stuffing,” she said.

Persons: ”, Ahold Delhaize, Christy Phillips, Brown, Hannaford, Caroline Medeiros, Phillips, Medeiros, Nicole Cotton, Cotton, ” Cotton, Alan Liska, ” Liska, We’re Organizations: Shop, Hannaford, NBC News, “, Companies, Colonial Pipeline Locations: Netherlands, USA, New York , Massachusetts, Connecticut, Maine, Vermont, New Hampshire, Massachusetts , Connecticut , New York, Rhode Island, Boston, Pittsfield , Massachusetts, South Boston, cryptocurrency, North America, Australia, U.S, Russia

☆ DOJ calls for Google to sell Chrome and HomeGoods highlighted on TikTok: Morning Rundown
▼ + stars: | 2024-11-21 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +9 min

Trump’s plans for his first day in officePresident-elect Donald Trump plans to waste little time when he begins his second term in office. But much of Trump’s Day One goals will likely focus on stopping illegal immigration, the centerpiece of his candidacy. Chrome, which Google launched in 2008, provides the search giant with data it then uses for targeting ads. Additionally, the DOJ said that Google should be prevented from entering into exclusionary agreements with third parties like Apple and Samsung. These are some of the quirky items TikTok users have discovered during trips to their local HomeGoods stores.

Persons: Donald Trump, Laken Riley’s, Pope Francis, Joe Biden, Trump, won’t, Elon Musk, Vivek Ramaswamy, Matt Whitaker, Matt Gaetz, Dr, Mehmet Oz, Laken Riley, Jose Antonio Ibarra, Ibarra, Riley, Riley’s, Allyson Phillip, “, ”, → Susan Smith, →, Bryan Kohberger, Pope, Carlo Acutis, Francis Basilica, ” Pope Francis, he’ll, Acutis, Maurizio Cattelan’s “, Patrick Mahomes, Travis Kelce —, Milhouse Van Houten, Halyna Hutchins, Joel Souza, Jeff Greenberg, Daysia Tolentino, — Saba Organizations: Catholic, Biden, Trump, Security, Elon, Wall Street, NATO, Cabinet, Medicare, Services, North Carolina Republican, Democratic, U.S, University of Idaho, Google, Chrome The Department, Justice, Chrome, DOJ, Apple, Samsung, Android, Adolescents, Vatican News, FBI, Kansas City Chiefs, Indiana University, Hoosiers, NBC News, Staff, Universal, Getty, NBC, Target Locations: Russia, Ukraine, North, California, Venezuelan, St, Assisi, Italy

“Far too often, patients relying on federal government health care programs are forced to accept bureaucratic, one-size-fits-all coverage,” Crapo said. But Trump’s lack of specificity about health care could empower Oz to fill in the blanks. Oz said on an AARP questionnaire: “We can expand Medicare Advantage plans. If Oz is confirmed and chooses to push more people into Medicare Advantage, as he has pitched, he may not have too hard a time. “In our focus groups, people say they’re satisfied with both traditional Medicare and Medicare Advantage, and they make their choices based on different preferences,” Neuman said.

Persons: WASHINGTON, Donald Trump, Mehmet Oz, Mike Crapo, ” Crapo, “ Dr, Oz, George Halvorson, “, Kamala Harris ’, ”, Larry Levitt, Harris, ” Levitt, Trump, Sen, James Lankford, hasn’t, ” Lankford, Obama, Obamacare, Patty Murray, “ Trump, Ron Wyden, Tricia Neuman, Neuman, ” Neuman, Arthur Caplan, ” Caplan, ” Wyden, they’re, Lankford, ” Sen, Mike Rounds, there’s, We’ll, pare, “ It’s, Caplan, ” Oz, John Fetterman, he’s, “ We’re, ” Fetterman, I’m Organizations: Medicare, Services, Forbes, Kaiser Permanente, Agency, Senate, Health, Education, Labor, Pensions, NYU Langone Medical, Commonwealth Fund, “ Locations: Idaho, KFF, New York City, Pennsylvania

☆ Australia launches ‘landmark’ bill to ban social media for children under 16
▼ + stars: | 2024-11-21 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

SYDNEY, Australia — Australia’s center-left government on Thursday introduced a bill in Parliament that aims to ban social media for children under 16 and proposed fines of up to $32 million for social media platforms for systemic breaches. Australia plans to trial an age-verification system that may include biometrics or government identification to enforce a social media age cut-off, some of the toughest controls imposed by any country to date. France last year proposed a ban on social media for those under 15, but users were able to avoid the ban with parental consent. The law would force social media platforms, and not parents or young people, to take reasonable steps to ensure the age-verification protections are in place. “Social media has a social responsibility ... that’s why we are making big changes to hold platforms to account for user safety,” she said.

Persons: Anthony Albanese, ByteDance’s TikTok, Elon Musk’s, Snapchat, Albanese, Michelle Rowland, Rowland, ” Organizations: ”, Liberal Party, Facebook, Google, YouTube, Labor, United Locations: SYDNEY, Australia, France, United States

The Department of Justice is calling for Google to divest its Chrome browser, following a ruling in August that the company holds a monopoly in the search market. Chrome, which Google launched in 2008, provides the search giant with data it then uses for targeting ads. Additionally, the DOJ said that Google be prevented from entering into exclusionary agreements with third parties like Apple and Samsung. In August, a federal judge ruled that Google holds a monopoly in the search market. Last month, the DOJ indicated it was considering a breakup of Google businesses, including potentially breaking up its Chrome, Play or Android divisions.

Persons: Sherman Organizations: Justice, Google, Chrome, DOJ, Apple, Samsung, Microsoft, Android

Trump’s pick for defense secretary, Pete Hegseth, was accused of sexual assault. Trump himself has faced various sexual misconduct allegations, which he has denied, though he was found liable last year for sexual abuse in a civil trial over an alleged incident in the 1990s that he also denies. Now, after having won the presidency again, he’s spending early political capital to confirm appointees who have faced sexual misconduct allegations of their own. The allegations against Trump’s picksGaetz’s years of controversies have been thrust back into the spotlight now that he’s up for a Cabinet post. “It’s a very scary time for young men in America when you can be guilty of something that you may not be guilty of,” Trump told reporters.

Persons: Donald Trump’s, Matt Gaetz, Pete Hegseth, Robert F, Kennedy Jr, Gaetz, Hegseth, Kennedy, “, Trump, ”, Marc Short, Mike Pence’s, we’ve, Trump’s, hasn’t, Tim Parlatore, Bill Clinton’s, George H.W, Barack Obama’s, haven’t, Andy Puzder, Puzder, Patrick Shanahan, Shanahan, Ronny Jackson, Jackson, Brett Kavanaugh, Kavanaugh, ” Trump, reconsidering, JD Vance, Karoline Leavitt, Vance, MAGA, ” Leavitt Organizations: NBC News, NBC, “, Justice Department, Trump, Committee, Washington Post, Republican, You’re, Politico, Pentagon, White House, Department of Veterans Affairs, Supreme, Capitol, White Locations: groping, Florida, America, Hegseth, Washington

☆ Alphabet shares tumble on DOJ fears. Here's what we think about the stock
▼ + stars: | 2024-11-21 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. The market is also taking its cue from Club name Nvidia , but not in the way you would think. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, We'll, Kent Walker, Walker, we've, Justice Department —, Baird, haven't, Amit Mehta, Mehta, Jim Cramer's, Jim Organizations: CNBC, ., Nvidia, Google, Department of Justice, DOJ, Bloomberg, Justice Department, ISI, Ross Stores, Intuit, Jim Cramer's Charitable Locations: Eaton, Dover

☆ Starbucks considers next moves in China — Cramer says new CEO 'is not fooling around'
▼ + stars: | 2024-11-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

The coffee giant's statement was in response to a Bloomberg report that Starbucks is considering selling a stake in its China operations. According to Bloomberg, such options could spur investment from Chinese companies or private equity firms to help Starbucks navigate the domestic coffee market. "There's a reason why Starbucks stock hasn't gone down from when Niccol was picked," Jim argued, touting Niccol's successful six-years-plus leading Chipotle . Niccol started as Starbucks CEO in September, replacing Laxman Narasimhan who was ousted after just 17 months on the job. An employee services in a Starbucks coffee truck at Wuhan International Plaza on October 6, 2022 in Wuhan, Hubei province, China.

Persons: Brian Niccol, Bloomberg, Brian, Niccol, Jim Cramer, Jim, Niccol's, Laxman Narasimhan, Narasimhan, Howard Schultz, Jim Cramer's Organizations: Starbucks, Bloomberg, Elliott Investment Management, U.S, CNBC, Wuhan International Plaza, Getty Locations: China, U.S, Wuhan, Hubei province

☆ CFPB expands oversight of digital payments services including Apple Pay, Cash App and PayPal
▼ + stars: | 2024-11-21 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

The Consumer Financial Protection Bureau on Thursday issued a finalized version of a rule saying it will soon supervise nonbank firms that offer financial services likes payments and wallet apps. That would include popular services from Apple and Google , as well as payment firms like PayPal and Block . "Digital payments have gone from novelty to necessity and our oversight must reflect this reality," said CFPB Director Rohit Chopra. A year ago, the CFPB said it wanted to extend its oversight to tech and fintech companies that offer financial services but that have sidestepped more scrutiny by partnering with banks. The CFPB said the rule will take effect 30 days after its publication in the Federal Register.

Persons: Rohit Chopra, CFPB Organizations: Banking, Housing, Urban Affairs Committee, Consumer Financial, Tech, Apple, Google, PayPal, Federal Register

☆ Baidu posts 3% drop in third-quarter revenues, beating market expectations
▼ + stars: | 2024-11-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

BEIJING — Chinese tech giant Baidu on Thursday posted a 3% annual drop in third-quarter revenue, nevertheless beating market expectations amid AI cloud growth. Baidu noted a 12% surge in its non-online marketing revenue to the equivalent of $1.1 billion, mainly driven by its artificial intelligence cloud business. Beijing-based Baidu operates one of the major web browser search engines in China, along with a frequently used maps app. Baidu has promoted its Ernie chatbot as a local alternative to OpenAI's ChatGPT, which isn't available in China. "AI Cloud continued to show healthy and sustainable development in the third quarter," he said in the earnings release.

Persons: Robin Li, Ernie, Baidu, Ernie chatbot, Li, Baidu hasn't, Rong Luo, Apollo Organizations: Baidu, CNBC Locations: BEIJING, U.S, Beijing, China

Search resuls for: "Services"

25 mentions found