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Read previewWells Fargo's decision to fire reportedly more than a dozen workers it accused of faking work shows some bosses are done tolerating disengaged employees. This story is available exclusively to Business Insider subscribers. Related storiesThe filings, however, do not say whether the fired employees were allegedly faking work from home. Wells Fargo states on its website that many of its corporate workers are eligible to work hybrid roles. Only about one in three full- and part-time workers reported being engaged in the first quarter of 2024, according to Gallup.
Persons: , Wells, didn't, they'd, they're, worrisome, Gallup Organizations: Service, Bloomberg, Financial Industry, Authority, Business, Big, Wall Street, Gallup Locations: Wells Fargo, earshot
CNN —A group of Russian Navy ships, including a nuclear-powered submarine, arrived in Cuba on Wednesday morning in a sign of strengthening ties between the two Cold War allies. The four Russian ships are now docked in berths usually occupied by cruise ships. The US has also deployed air assets, including a P-8 Poseidon reconnaissance plane, to circle overhead the Russian vessels. The rescue and tugboat Nicolay Chiker, part of the Russian naval detachment visiting Cuba, arrives at Havana's harbour, June 12, 2024. According to a Cuban Armed Forces Ministry statement, none of the Russian ships are armed with nuclear weapons.
Persons: Gorshkov –, Gorshkov, Adalberto Roque, Donald Cook, Joe Biden, Nicolay Chiker, , weathers Organizations: CNN, Russian Navy, Military, Kazan, Getty Images, Russian Ministry of Defense, Russian MOD, US Navy, Coast Guard, US, Pentagon, State Department, Russian, Cuba’s Foreign, Cuban Armed Forces Ministry, Soviet Union, Cuban Missile Locations: Cuba, Russian, Havana, Spanish, Kazan, Florida, Russia, Ukraine, Havana's, AFP, Caribbean, Canada, Washington, Moscow
The Russian nuclear-powered submarine Kazan (L) and the class frigate Admiral Gorshkov, part of the Russian naval detachment visiting Cuba, arrive at Havana's harbour, June 12, 2024. Russian navy ships churned into Havana harbor on Wednesday, a stopover the U.S. and Cuba said posed no threat but which was widely seen as a Russian show of force as tensions rise over the Ukraine war. Cuba said last week that the visit was standard practice by naval vessels from countries friendly to Havana. "At no point have the ships or submarine posed a direct threat to the United States." "The visiting Russian warships are Putin's way of reminding Biden that Moscow can challenge Washington in its own sphere of influence," Leogrande said.
Persons: Gorshkov, Nikolay Chiker, Biden, Russia —, William Leogrande, Leogrande Organizations: U.S, Reuters, U.S . Naval Air Station, Russia, American University, Washington Locations: Russian, Cuba, Havana's, Havana, Ukraine, United States, Key West , Florida, Moscow
Officials penciled in just one rate cut this year, according to their latest economic projections, compared to the three they forecast in March. They also expect inflation to be more stubborn this year than they thought in the spring, according to their forecasts. The Fed has kept interest rates at a 23-year high for nearly a year, after kicking off an aggressive rate-hiking campaign in March 2022. Here are key takeaways from the Fed’s latest decision on interest rates. Still-high inflation is continuing to eat into some budgets, pandemic savings are drying up, borrowers continue to pile on more debt and the highest interest rates in nearly a quarter century are squeezing Americans.
Persons: Jerome Powell, Powell, , it’s, , “ We’ve, ” Powell, trickling, Wall, Matt Colyar, Organizations: Washington CNN, Federal Reserve, Labor Department, That’s, CPI, Fed, Moody’s Locations: April’s
CNN —The Hubble Space Telescope will transition to a new way of operating that aims to prevent the space observatory from experiencing lapses in its ability to observe the universe, according to NASA officials. The storied telescope, which has captured breathtaking images of the cosmos for 34 years, has traditionally operated using six gyroscopes. NASA's Hubble Space Telescope eyes the universe in May 2009 after one of the space shuttle missions to service the space observatory. Hubble is expected to operate into the mid-2030s, with its cosmic observations providing a complement to the work of the James Webb Space Telescope and future observatories that haven’t launched yet, Clampin said. “We do not see Hubble as being on its last legs,” Crouse said, “and we think it’s a very capable observatory.”
Persons: Mark Clampin, Hubble, Clampin, Patrick Crouse, Crouse, ” Clampin, James Webb, , ” Crouse Organizations: CNN, Hubble, NASA, Astrophysics, NASA's Hubble, Goddard Space Flight, James Webb Space Telescope Locations: Greenbelt , Maryland
In Georgia, protesters waving European Union flags have rallied against what they see as their pro-Russia leaders. Moldova’s government is pushing to join the bloc, enraging citizens hoping for closer relations with Moscow. Fueled in part by the Ukraine war, tensions have been mounting within some of the former lands of the Soviet Union, pitting those favoring closer relations with Russia against those orientated more toward Europe. Many of those tensions predate the war, rooted in longstanding domestic struggles over power, money and other issues, but they have been amplified by geopolitics, with both Russia and the West pushing countries to choose a side. Across the former Soviet Union “the whole context is now shaped by how the Ukraine war has radicalized competition between Russia and the West,” said Gerard Toal, author of “Near Abroad,” a study of Russia’s relations with former Soviet territories.
Persons: , Gerard Toal Organizations: Soviet, Soviet Union “, Locations: Georgia, Russia, Moscow, Armenia, Europe, Azerbaijan, Ukraine, Soviet Union, Soviet
The European Union's upcoming 14th sanctions package against Russia must do more to choke off energy exports and clamp down on circumvention by third parties, an advisor to the office of Ukrainian President Volodymyr Zelenskyy told CNBC. He noted that EU states would need to work more cohesively for sanctions to stand a chance of crossing the line by the end of next month as planned. "The most critical aspect of the 14th sanctions package is its adoption by the end of June, but some member states currently pose a challenge to this," Vlasiuk said via email Thursday. The EU's special envoy for the implementation of sanctions, David O'Sullivan, was in Kyiv on Thursday to discuss the latest sanctions package amid ongoing pushback from member states such as Hungary. Among the proposed measures is a ban on Russian liquified natural gas, or LNG, exports and a crackdown on sanctions circumvention via countries including Kremlin ally Belarus.
Persons: Volodymyr Zelenskyy, Vladyslav Vlasiuk, Vlasiuk, David O'Sullivan, Nataliia, Shapoval, Dmitry Birichevsky Organizations: CNBC, Kremlin, Russian Sanctions, EU, KSE Institute, Russian Foreign Ministry, Ria Locations: Wilhelmshaven, Germany, Russia, Kyiv, Hungary, Belarus, China, India, Ria Novosti, Ports, France, Belgium, Spain, Asia
Like many parents, I've sometimes wondered where the time has gone and how my babies are growing up, with two already being teenagers. Despite how much my teens are trying to gain independence while also telling us just how wrong and uncool we are, they still need me. I engage with my teens in their favorite activitiesOne of my teens is an athlete who thrives on the basketball court. I take my teens on individual datesHaving one-on-one time with my teens outside our home is important. I love taking my teens on dates because we're making memories together while utilizing some of the precious time we have.
Persons: I've, that's, There's Organizations: Service
[The stream is slated to start at 1:15 PM ET. Please refresh the page if you do not see a player above at that time.] CNBC's ETF Edge is dedicated to the fastest-growing trend in investing right now: ETFs. Every Monday, Bob Pisani will be joined by a panel of top market participants to offer educational and actionable advice to help you build your best portfolio.
Persons: Bob Pisani Organizations: Edge
Tug-of-war around the semi trade
  + stars: | 2024-05-28 | by ( Bob Pisani | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTug-of-war around the semi tradeEven Nvidia's strong recent earnings are having trouble balancing out frets about the Fed and stubborn inflation.
“Sounds like something I would say,” responded Cohen, Trump’s former lawyer and fixer. The question set the tone for the cross-examination of the Manhattan district attorney’s key witness in the hush money trial against the former president. For roughly two hours, Blanche began a cross-examination to try to discredit Cohen’s allegations against Trump. Blanche then asked whether Cohen called Trump a “Cheeto-dusted cartoon villain.”“That also sounds like something that I said,” Cohen said. “You were telling the truth, correct?” Blanche asked in regards to the compliments Cohen gave Trump.
Persons: Donald Trump’s, Todd Blanche, Michael Cohen, Blanche, Cohen, Cohen “, , Trump’s, Stormy Daniels, Trump, Daniels, Joshua Steinglass, Juan Merchan, ” Cohen, , Donald Trump, ’ ” Cohen, Trump Blanche, ” Blanche, Blanche . Trump, Robert Mueller’s, Jay Sekulow, , Susan Hoffinger, Florida Sen, Rick Scott, Sen, J.D, Vance of Ohio, Doug Burgum, Mike Johnson, Byron Donalds, Cory Mills, Vivek Ramaswamy, Johnson, Lara Trump, Eric Trump, ” Ramaswamy, ” Trump Organizations: CNN, Trump, Trump . Assistant, Trump –, Federal, Commission, FBI, Trump Organization, North Dakota Gov, Republican National Committee Locations: Manhattan, Russia, United States, New York, Florida, Louisiana
Emirates CEO Sheikh Ahmed bin Saeed Al Maktoum criticized Boeing in a CNBC interview. AdvertisementBoeing is facing criticism from one of its biggest customers, as the CEO of Emirates told the planemaker to "get your act together," in an interview with CNBC. AdvertisementAl Maktoum told CNBC that his message for Boeing is: "Get your act together and just do it. An Emirates Boeing 777. Urbanandsport/NurPhoto via Getty ImagesWith 250 planes on order, Emirates is Boeing's biggest customer for widebody jets.
Persons: Sheikh Ahmed bin Saeed Al Maktoum, , We're, it's, Al Maktoum, Max, Dave Calhoun, Al Maktoum's, It's, didn't, Scott Kirby Organizations: Boeing, CNBC, Service, Emirates, Business, Alaska Airlines, National Transportation Safety, Emirates Boeing, Getty, Airbus, United Airlines Locations: Emirates, Dubai
Inflation canceled that, and now it's almost certain that Wall Street's summer is canceled, too. That means Wall Street's fantasies of decamping to the Hamptons for the summer have shattered. You can see why this tug-of-war will keep Wall Street on its toes and off Georgica Beach. There is a certain set on Wall Street that does not get to "rosé all day" on Hamptons summer water when currencies trade that way. The simplicity that Wall Street hoped for is one of the few options that's no longer on the table.
Persons: , Justin Simon, decamping, Jerome Powell, opportunistically, Jamie Dimon, Torsten Slok, Slok, Powell, we'd, David Lefkowitz, dory, McDonald's, Silas Myers, Wall, Zuck, Simon, they're, it's Organizations: Federal Reserve, Jasper Capital, Nasdaq, Hamptons, JPMorgan, Fed, Pepsi, Mar Vista Investments, Wall, Nvidia, Tesla, Microsoft, Meta, Apple, EU Locations: Georgica, Japan
[laufey, "misty"]archived recording (laufey) (SINGING) Look at me I’m as hopeless as a kittenanna martinShe got her start in the most Gen Z way possible — on TikTok. [laufey, "falling behind"]archived recording (laufey) (SINGING) Everybody’s falling in love And I’m falling behindanna martinToday, Laufey reads an essay called “An Anxious Person Tries to Be Chill,” by Coco Mellors. And so, I think that’s kind of what we’re always itching for, that sense of love, even though it’s not really love. laufeyWell, the first love song I wrote, called “Best Friend.” I’d never been in love before, and I wanted to write a love song. archived recording (laufey) [SCATTING]: You’re my best friend in the world [MUSIC PLAYING]anna martinNext week, I talk with model and writer Emily Ratajkowski.
Persons: anna martin, ” I’m Anna Martin, Laufey, anna martin She, , you’re, Everybody’s, Coco Mellors, won’t, anna martin Laufey, you’ve, Matt Haig, Madeline Miller, It’s, laufey, it’s, Paul Newman, , , didn’t, Henry, ’ Henry didn’t, I’d, I’m, ’ Henry, anna martin Man, , Laufey’s, ghosting, Coco Mellor’s, avoidant, I’ve, Boston, Let’s, hadn’t, Coco, she’s, he’s, anna martin Right, that’s, anna martin I, We’ll, ” I’d, ” anna martin Aw, Emily Ratajkowski, Emily’s, emily ratajkowski Organizations: The New York Times, Gay, Boston Locations: TikTok, West, Central, , Los Angeles, , Boston, It’s, what’s
CNN —Close flybys of Io, one of Jupiter’s moons and the most volcanically active world in our solar system, have revealed a lava lake and a towering feature called “Steeple Mountain” on the moon’s alien surface. “We also got some great close-ups and other data on a 200-kilometer-long (127-mile-long) lava lake called Loki Patera. Juno detected the mountain with the help of the sun shining on Io’s surface, which created dramatic shadows that revealed a very sharp peak. NASA/JPL-Caltech/SwRI/MSSSAs an outdoors enthusiast, Bolton joked that Io’s Steeple Mountain should be one of the solar system’s skiing and snowboarding destinations. The mission team used Juno’s Microwave Radiometer instrument to create maps of Io’s surface, showing how incredibly smooth it is.
Persons: , Scott Bolton, , Loki Patera, Gerald Eichstädt, Thomas Thomopoulos, ” Bolton, Bolton, Galileo Galilei, Hera Organizations: CNN, Southwest Research Institute, NASA, JPL, Caltech, Bolton, European Geophysical Union General Assembly, Juno, Science, , Galileo Locations: Vienna, Chile
You might miss a massive move in Trump Media & Technology Group’s stock price. Trump Media is so turbulent that it makes bitcoin’s volatility look tame. There are many reasons why Trump Media shares have been so volatile, including the fact that the company is inextricably linked to the former president. This dynamic makes it easier for investors to place bullish bets, sending Trump Media shares surging. But that has been trickier with Trump Media, allowing its stock to spike in its early days.
Persons: Donald Trump, it’s Trump, , Matthew Tuttle, Michael Ohlrogge, Matthew Kennedy, Kennedy, , it’s, Bob Sloan, Tuttle, Charles Schwab, ” Tuttle, Ohlrogge, Trump, Renaissance’s Kennedy, Jonathan Macey, ” Macey Organizations: New, New York CNN, Trump Media & Technology, Trump Media, Trump, Tuttle Capital Management, Trump Media’s, NYU School of Law, Similarweb, Renaissance, Facebook, Meta, “ Traders, Companies, S3 Partners, CNN, NYU, MBT, Yale Law School Locations: New York
Advertisement"That hindered me at points last year; people were physical with me," Clark told Haley Jones on the "Sometimes I Hoop" podcast. AdvertisementSummer 2022 "was the first summer where we actually had a full summer of training," Alexander said. Alexander told the New York Times she saw that video and told Clark: "I don't think you were running fast enough." The final piece of the puzzle for Clark or any other player, Alexander said, is their commitment to doing their "best every single day." AP Photo/Michael Conroy"I think that's really showed throughout conference play especially, but obviously earlier in the year too," Clark told Jones.
Persons: Caitlin Clark, Lindsay Alexander, , She's, Achilles, she's, Clark, Haley Jones, Alexander, Charlie Neibergall, Clark hasn't, David Berding, Iowa's, Charlie Neibergall Alexander, we're, Lisa Bluder, That's, Ronald Cortes, Michael Conroy, Jones, it's, It's Organizations: Iowa Hawkeyes, Service, Hawkeyes, Maryland Terrapins, AP, US, New York Times, Iowa State Cyclones, National Locations: Hungary
The economy is flashing a recession warning that has only been wrong once in the last 120 years. The ECRI's Leading Economic Index has started to decline in the past year, top economist Lakshman Achuthan said. AdvertisementThe US economy is flashing a classic recession warning that has only shown a false positive once in the last century, according to top economist Lakshman Achuthan. AdvertisementHiring strength seems to lie in non-discretionary areas of the market — which typically occurs before a recession, Achuthan said, as consumers prioritize needs over wants. Job growth in education and health rose around 4% last year, though job growth in every other sector trended near 0%, ECRI data shows.
Persons: Lakshman Achuthan, , Achuthan, David Rosenberg Organizations: Service, Cycle Research, Rosenberg Research, Atlanta Fed
Tugboats guide the Maersk Atlanta container ship at the Port of Newark in Newark, New Jersey, US, on Saturday, March 30, 2024. As the Dali container ship neared the Francis Scott Key Bridge after losing power and with no ability to navigate, there were no tug boats to guide it. It is unclear if the tugs remained with the Dali, a collision could have been averted. But maritime experts say that new tugboat regulation would be a reasonable response for the government to consider. The next day, the Coast Guard referred CNBC to the Joint Information Center (JIC) for the Key Bridge Casualty 2024 incident in Baltimore.
Persons: Dali, Francis Scott Key Organizations: Maersk, Port, Francis Scott Key Bridge, CNBC, Infrastructure Security Agency, Department of Homeland Security, Department of Transportation, U.S . Coast Guard, Coast Guard, Joint Information Center, U.S . Immigration, Customs, . Customs, Border Patrol Locations: Maersk Atlanta, Newark, Newark , New Jersey, US, Port of Baltimore, Baltimore
CNN —Crews are working to remove the first portion of Baltimore bridge wreckage – the starting point in a complicated, extensive cleanup process that could help open up a temporary channel to get more vessels into the water around the collapse site, officials said. In the meantime, conditions in the water make it unsafe for divers as pieces of the bridge remain submerged in the water. The port “handles more cars and more farm equipment more than any other port inside this country,” the governor said. Plus, “at least 8,000 workers on the docks have jobs that have been directly affected” by the collapse. In order to reopen the port, the Coast Guard says it will first clear debris from the deep draft channel, remove the ship, then clear debris from the bridge across the waterway.
Persons: CNN — Crews, Wes Moore, It’s, Francis Scott Key, Baltimore Mayor Brandon Scott, Moore, ” Moore, Shannon Gilreath, you’ve, , it’s, ” Gilreath, Al Drago, Roland L, Butler, Mark Martin, ” Martin, Martin, Organizations: CNN, , ” Maryland Gov, Authorities, Baltimore Mayor, US Coast Guard, Coast Guard, Baltimore Gas and Electric Company, Bloomberg, Getty, SalvOcean Locations: Baltimore, ” Maryland, Maryland, Port of Baltimore, , Patapsco, Baltimore Harbor
Erin Schaff/The New York TimesForce of Ship Collision Was on the Scale of a Rocket LaunchThe container ship Dali appeared to move sluggishly before striking the Francis Scott Key Bridge in Baltimore on Tuesday. Experts disagreed on whether it was reasonable for any bridge pier to withstand a direct collision with a massive container ship. F = ma force mass acceleration F = ma force mass accelerationOur first task, and a major source of uncertainty, was finding those numbers. F= (100,000 to 195,000 metric tons) × (7.8 mph - 2.5 mph) / 38 seconds mass acceleration F= (100,000 to 195,000 metric tons) × (7.8 mph - 2.5 mph) / 38 seconds mass acceleration For the actual calculation, we used metric units. We tried one more method: using a formula to calculate the ship collision force published by the American Association of State Highway and Transportation Officials, the industry organization that publishes bridge safety standards.
Persons: Erin Schaff, Dali, Francis Scott Key, , , Ben Schafer, Nii, Sherif El, Themistoklis Sapsis, Tawil Organizations: The New York Times Force, Empire, Saturn, Johns Hopkins, University of Maryland, University of Michigan, M.I.T, American Association of State, Transportation, U.S . Army Corps, Engineers, Reuters, Sunshine Skyway Locations: Baltimore, Dali, Tampa Bay, Florida
Business Insider recently traveled to Fort Sill, Oklahoma and saw US Army soldiers training on artillery. Our reporter witnessed soldiers firing the M777, a powerful howitzer that's been used in Ukraine, among other wars. AdvertisementA 155mm shell is loaded into the massive, almost 10,000-pound gun. AdvertisementUS Army soldiers fire the M777 howitzer at Fort Sill. Troy Mack, an artillery instructor at Fort Sill, said it's a "fun and exhilarating experience" to be able to shoot live rounds on the range.
Persons: , Jake Epstein, Troy Mack, it's, Steven Downey Organizations: US Army, Service, Russia, Army, US, Business, Staff Locations: Fort Sill , Oklahoma, Ukraine, British, Afghanistan, Russia, Fort Sill
But American apps have long been barred in China. “The TikTok bill appears likely to become law and China’s displeasure seems ironic, if not hypocritical, given its stance toward American social apps,” said Brock Silvers, managing director at Kaiyuan Capital. The Chinese government has said it strongly opposes a forced sale of TikTok, and it has the legal ability to do so. A man walks past the headquarters of ByteDance, the parent company of TikTok, in Beijing. “While China has completely banned [these] American apps, TikTok enjoys all the benefits of America’s free and open legal and political systems,” he said.
Persons: Hong Kong CNN — TikTok, ByteDance doesn’t, Wang Wenbin, , Brock Silvers, Wang, Joe Biden, TikTok, CNN Beijing’s, Trump, Greg Baker, , Winston Ma, Silvers, Alex Capri, Craig Singleton, “ We’ve, ” Capri Organizations: Hong Kong CNN, US, Foreign Ministry, Google, Kaiyuan, Chinese Commerce Ministry, ByteDance, Trump, CNN, Commerce Ministry, Getty, New York University School of Law, Foundation, National University of Singapore Business School, Foundation for Defense of Democracies, Weibo, Twitter, Facebook Locations: China, Hong Kong, United States, Beijing, TikTok, ByteDance, AFP, Washington, Washington , DC
Former President Donald J. Trump’s growing support among Latino voters is threatening to upend the coalition that has delivered victories to Democrats for more than a decade, putting the politically divided group at the center of a tug of war that could determine elections across the country. Polls show that Mr. Trump’s standing with Latino voters has grown since his defeat in 2020, with some surveys finding him winning more than 40 percent of those voters — a level not seen for a Republican in two decades. That strength has Democrats playing defense to maintain the large majority of Latino voters whom they have relied on to win in recent years. The shift underscores a stark reality of the 2024 election: Neither party can win with white voters alone. As the fight for both the White House and Congress shifts more squarely to racially diverse states, both parties will need to rely on coalitions that include Black, Asian and Hispanic voters.
Persons: Donald J, Trump’s Organizations: Republican, White House
Mars may be 140 million miles away, but its gravitational pull could be impacting Earth's oceans. Scientists at the University of Sydney in Australia believe the red planet's tug is creating "giant whirlpools" in the oceans called eddies, which can shift the deep-sea floor. This, they claim, is part of a 2.4-million-year climate "grand cycle" on Earth that has been ongoing for at least 40 million years. The red planet's orbit and ours are locked in an intricate dance, and every so often, these line up so that Mars' gravitational pull on Earth is just a little more intense — this is called resonance. This information is crucial when refining models helping us see how our planet's intricate climate will progress over time.
Persons: Adriana Dutkiewicz, NASA's, Dietmar Müller, Malin, Matthew England, Benjamin Mills, wasn't, Mills Organizations: Service, University of Sydney, Business, NASA's Goddard Space, geosciences, Nature Communications, Mars NASA, JPL, Systems, University of New, New, University of Leeds Locations: Australia, Japan, New, University of New South Wales, Sydney
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