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☆ SEC sues Coinbase, calling it an unregistered crypto broker
▼ + stars: | 2023-06-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

On Tuesday, the US Securities and Exchange Commission sued Coinbase, America’s largest crypto exchange, for allegedly acting as an unregistered broker. “Since at least 2019, Coinbase has made billions of dollars unlawfully facilitating the buying and selling of crypto asset securities,” the SEC said in a press release. The Coinbase lawsuit comes on the heels of a similar SEC complaint against Binance, which is by far the world’s biggest crypto exchange. Since then, digital asset prices have tanked and regulators have stepped up their scrutiny of the industry. “It should get crypto closer to final rules of the road regardless of how the judge rules.”

Persons: Coinbase, “ Coinbase, ”, “, Binance, Nansen, Cowen Organizations: New, New York CNN, US Securities and Exchange Commission, Binance, SEC, CNN, Binance.US Locations: New York

☆ SEC sues crypto platform Binance
▼ + stars: | 2023-06-05 | by ( Allison Morrow | ) edition.cnn.com time to read: 1 min

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☆ Lightning Round: Sell Rivian and sell Lucid, says Jim Cramer
▼ + stars: | 2023-06-05 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Sell Rivian and sell Lucid, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Snowflake, Taiwan Semiconductor, Scotts Miracle-Gro, Azul SA, Palantir, Allison Transmission, Hilton, Essential Utilities, Samsara, Rivian, and Intel.

Persons: Jim Cramer, Allison Transmission Organizations: Taiwan Semiconductor, Scotts Miracle, Gro, Azul SA, Essential Utilities, Intel Locations: Snowflake

☆ Cramer's Lightning Round: Hilton is a keeper
▼ + stars: | 2023-06-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Snowflake's year-to-date stock performance. Stock Chart Icon Stock chart icon Azul's year-to-date stock performance. Stock Chart Icon Stock chart icon Palantir's year-to-date stock performance. Stock Chart Icon Stock chart icon Hilton's year-to-date stock performance. Stock Chart Icon Stock chart icon Samsara's year-to-date stock performance.

Persons: Frank Slootman, it's, Palantir, Allison Transmission's, Allison, Hilton, that's, It's, I've Organizations: CNBC, Scotts, Scotts Miracle, Stock, Caterpillar, Marriott, Hilton, Utilities Locations: Snowflake

☆ Jeff Zucker reportedly compared his firing from CNN to a gunshot wound: 'I gave them a gun, and they shot me with it'
▼ + stars: | 2023-06-04 | by ( Alison Brower | ) www.businessinsider.com time to read: +5 min

Jeff Zucker compared his firing from CNN to a gunshot wound, according to a New York Times report. Jeff Zucker compared his firing from CNN to a gunshot wound, according to a New York Times report — in part a self-inflicted one. "I gave them a gun, and they shot me with it," Zucker reportedly said. Zucker was an immensely popular leader at CNN, and his firing was a staggering shock to its newsroom and the media industry. Licht and Zucker met a few months after Zucker's firing, over a lunch in the Hamptons arranged by other media stakeholders, the Times reported.

Persons: Jeff Zucker, Zucker, Chris Licht, Allison Gollust, Tim Alberta, Gollust, Andrew Cuomo, Risa Heller, Heller, Zucker's, David Zaslav, Laurene Powell Jobs, Emerson, WBD, Licht, Don Lemon, Donald Trump, Zaslav, David Leavy Organizations: CNN, New York Times, Yale University, Times, Atlantic, WarnerMedia, Warner Bros, Discovery, Hamptons Locations: WarnerMedia, New York

☆ Florida Has a Billion-Dollar Problem if LGBT Travelers Stay Away
▼ + stars: | 2023-06-03 | by ( Allison Pohle | Jacob Passy | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/florida-travel-pride-lgbt-advisory-b38daccc

Persons: Dow Jones Locations: florida

☆ Some people are apparently ditching their iPhones for a foldable Razr model. Yes, the kind that was popular 20 years ago.
▼ + stars: | 2023-06-03 | by ( Tim Paradis | ) www.businessinsider.com time to read: +3 min

A Motorola exec said that one in five people buying a model of its foldable phone were iPhone users. Apple is rumored to be making — or at least investigating making — a foldable phone of its own. One in five people purchasing Motorola's Razr phone apparently gave up an iPhone to do so. Yi's comments came ahead of the June 23 release of the Razr Plus phone, which features a larger screen and starts at $999.99. Foldable phones are a blast from the pastAnd for all the retro energy of flip phones, there's no guarantee that younger buyers will embrace them.

Persons: Allison Yi, Yi's, it's, It's, Zers, Stephanie Elliot, Elliot Organizations: Motorola, CNET, Apple, Google, Samsung Locations: America

☆ The High-Stakes Push to Keep LGBT Travelers Visiting Florida
▼ + stars: | 2023-06-02 | by ( Allison Pohle | Jacob Passy | ) www.wsj.com time to read: 1 min

Persons: Dow Jones Locations: florida

☆ Premarket stocks: The uber-wealthy are doing just fine and Wall Street is cashing in
▼ + stars: | 2023-06-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But that’s not the case for everyone: The ultra-wealthy are doing just fine, and Wall Street firms are taking advantage of that. Germany, the largest economy in Europe, has slipped into recession as energy price shocks took their toll on consumer spending. In the past 10 weeks, JPMorgan Global Wealth Management opened 40,000 new accounts. Last year, it added around one new client with assets of $100 million or more per day, Mary Erdoes, head of asset and wealth management at the bank, told investors last week. Dollar General customers turn to food banksDollar General (DG) stock had one of its worst days ever on Thursday.

Persons: New York CNN —, that’s, JPMorgan Chase, Andy Cohen, Mary Erdoes, It’s, Goldman Sachs, Louis Vuitton, Dom Pérignon, Dior, Huw Roberts, Hermes —, Roberts, ”, Erwan, “, Gregory Daco, Allison Morrow, Jeff Owen, Owen, Cash, They’re, Elisabeth Buchwald, Treasury hasn’t, Biden Organizations: CNN Business, Bell, New York CNN, Wall, JPMorgan, Bloomberg, JPMorgan Global Wealth Management, Citigroup, International Monetary Fund, Lamborghini, HSBC, EY, Dollar, Treasury, US Treasury Locations: New York, China, United States, Germany, Europe, BlackRock

[1/6] Aerial view of the wildfire in Shelburne County, Nova Scotia, Canada in this social media handout image released May 31, 2023. Nova Scotia Government/Handout via REUTERSMONTREAL, June 2 (Reuters) - A coastal city in Quebec ordered some 10,000 residents to evacuate homes on Friday as wildfires spread in eastern Canada and stretched firefighting resources already tackling blazes across the country. Wildfires are common in Canada's western provinces, but this year the eastern province of Nova Scotia is reeling from its worst-ever wildfire season. In another eastern province, Quebec, Premier Francois Legault has urged people to avoid spending time in forests over the next few days. Canadian armed forces have been helping fight fires in western Canada since early May and troops were sent to Nova Scotia on Thursday.

Persons: Bill Blair, Blair, Francois Legault, Stephane Lauzon, Justin Trudeau, Mateusz, Allison Lampert, Ismail Shakil, Nick Macfie Organizations: Nova, Nova Scotia Government, REUTERS, Emergency, Thomson Locations: Shelburne County , Nova Scotia, Canada, Nova Scotia, REUTERS MONTREAL, Quebec, Alberta, Northwest Territories, Saskatchewan, Manitoba, Quebec , New Brunswick, Polish, Ottawa, United States, Australia, New Zealand, South Africa, Poland, Montreal

☆ American Airlines aviators reject merger with world's largest pilots' union
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

June 2 (Reuters) - American Airlines Group's (AAL.O) pilot leaders have rejected efforts to join the Air Line Pilots Association (ALPA), union spokesman for the U.S. carrier's aviators, Dennis Tajer, said on Friday. Support from the Allied Pilots Association (APA) board fell short of the two-thirds needed to start merger talks with fast-growing ALPA, the world's largest pilots' union, which recently joined forces with aviators at Air Canada (AC.TO). Pilots at North American carriers are making workplace gains in new contracts as travel rebounds from the pandemic. Allied, which reached a tentative deal last month that boosts pay by 21% in 2023, agreed in November to create a merger committee to look at joining forces with fast-growing ALPA. The group AA Pilots for ALPA, which supported a merger, said in a statement they were disappointed by the APA board of directors' decision which was made on Thursday afternoon.

Persons: Dennis Tajer, Allison Lampert, Matthew Lewis Organizations: American Airlines, Air Line Pilots Association, U.S, Allied Pilots Association, Air Canada, Pilots, North, AA Pilots, ALPA, APA, Thomson Locations: Montreal

I should've known better than to travel during the holidays, and I paid the cost for doing it anyway. I let my travel partner plan the trip, and a delayed flight meant that all his plans went awry. The trip cost me thousands of dollars and put me off international travel. My ill-fated trip to Morocco in 2019 put the final nail in the coffin of my romantic relationship and a nasty dent in my finances. The impossibly brisk pace of the trip and the time difference meant that our cancelled flight resulted in thousands of dollars lost on cancelled hotels, tours, and transportation.

Persons: —, I'd, Mercedes, we'd Organizations: Service Locations: Morocco, Montreal, Old, Toronto

Sen. Peter Welch, Sen. Joni Ernst, and Sen. Mitt Romney. Mariam Zuhaib/AP; Amanda Andrade-Rhoades/Bonnie Cash/ReutersSenators from both parties on Thursday night defended their decision to support the debt ceiling deal, despite their concerns about the legislation. Sen. Peter Welch, a Democrat, noted that while he had some concerns about the deal, he planned to vote for it anyway. “I'd like to get rid of the debt ceiling, because this hostage-taking sort of approach is becoming institutionalized, very dangerous to the country. I think that Kevin McCarthy negotiated a good deal – for now,” the Iowa Republican said.

Persons: Sen, Peter Welch, Joni Ernst, Mitt Romney, Mariam Zuhaib, Amanda Andrade, Rhoades, Bonnie Cash, “, Welch, Biden, ” Sen, Kevin McCarthy, “ It’s Organizations: Reuters, White, Iowa Republican, Republican Locations: Vermont

☆ Dollar General customers are turning to food banks, CEO says
▼ + stars: | 2023-06-01 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Dollar General’s stock just had one of its worst days ever on Wall Street. But Dollar General’s worse-than-expected results point to a more-troubling reality for the nation’s consumer-dependent economy. When Dollar General’s core customers feel strained, they pull back completely. “Unfortunately, our customers are saying they’re having to rely more on food banks, savings, credit cards,” CEO Jeff Owen said on a call with analysts Thursday. Dollar General’s downbeat earnings also underscore the extreme disparity in how inflation is felt among high-income versus low-income shoppers.

Persons: CNN Business ’, Jeff Owen, Owen, haven’t, you’ve, That’s, ”, Neil Saunders, you’ll Organizations: CNN Business, New York CNN, Dollar, Macy’s, Costco, Target, Walmart, National Bureau of Economic Research, Consumers, US Locations: New York, West Elm

☆ Heading Uptown With $250,000 and Some Hope. Could They Afford a Co-op?
▼ + stars: | 2023-06-01 | by ( Debra Kamin | ) www.nytimes.com time to read: +2 min

Ms. Smith, a television lighting designer, and Mr. Estep, a theater props manager, were renting a three-bedroom townhouse with a terrace in Borough Park, Brooklyn. But their rent, at $1,850 a month, was well below market rate, and Ms. Smith, 40, and Mr. Estep, 43, couldn’t bring themselves to leave. The time had come to fulfill those wedding vows. “We needed somewhere that felt like home,” Mr. Estep said. Email: thehunt@nytimes.com]“It couldn’t be a bunch of compartmentalized rooms,” Mr. Estep said.

Persons: Dante Olivia Smith, John Estep, Smith, Estep, couldn’t, “, ” Mr, —, Mr, Ms, ” Allison Deutsch, ” Ms, Deutsch Organizations: Borough Park , Brooklyn ., Oxford Property Group Locations: Borough Park , Brooklyn, New York City, Midtown Manhattan, Harlem, Kingsbridge, Bronx

Canada's largest carrier had said earlier that an issue with its communicator system had resulted in flight delays across its system. "Air Canada’s operations are stabilizing and flights are departing," the airline said Thursday afternoon. Air Canada did not describe the specific issue but said Thursday's glitch was unrelated to the one last week. "Air Canada will continue to work with the manufacturer to ensure stability in the system in the future." "We’re now working our way back to normal operations," Spirit said in an emailed statement.

Persons: We’re, Allison Lampert, Ismail Shakil, David Shepardson, David Gregorio, Mark Porter Organizations: Air Canada, Canada, Southwest Airlines Co, Spirit Airlines, Thomson Locations: MONTREAL, Montreal, Ottawa, Washington

☆ Philip Morris International CEO aims to make its stock an ESG investment, FT reports
▼ + stars: | 2023-05-31 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

The majority of those sales come from PMI’s “heated tobacco” products, which use electricity to warm, rather than burn, tobacco. “This requires system-level change.”Philip Morris International, headquartered in Switzerland, is the multinational firm that sells Marlboro brand cigarettes in non-US markets. It was spun off in 2008 from Altria Group, which controls Philip Morris USA. That’s especially true in Europe, where ESG accounted for 65% of all flows into ETFs in 2022, according to Morningstar data. Olczak touted PMI’s ESG bona fides on transparency, though he also acknowledged that the use of child labor in tobacco supply chains harmed his company’s ESG rating.

Persons: Philip Morris, Jacek Olczak, ” Olczak, “ I’m, Philip Morris …, ”, ” Philip Morris, ESG, Olczak, “ Organizations: New, New York CNN, Tobacco, Philip Morris International, Financial Times, CNN, ” Philip Morris International, Marlboro, Altria Group, Philip Morris USA, drillers, Morningstar Locations: New York, Switzerland, Europe

☆ The Most Common Eating Disorder in the U.S. Is Also the Least Understood
▼ + stars: | 2023-05-31 | by ( Dani Blum | ) www.nytimes.com time to read: +2 min

Binge eating disorder is the most common eating disorder in the United States. What is binge eating disorder? Binge eating disorder is a relative newcomer in the world of diagnosable mental health conditions; it entered the Diagnostic and Statistical Manual of Mental Disorders, which clinicians and researchers use to classify mental health conditions, 10 years ago this month. But the behaviors of binge eating disorder are distinct, he said. People with binge eating disorder also tend to eat more quickly than usual during an episode; many also eat in secret and grapple with guilt, said Kelly Allison, the director of the Center for Weight and Eating Disorders at the University of Pennsylvania.

Persons: Cynthia Bulik, they’ve, ”, Timothy Walsh, ‘, ’ ”, Holly Peek, Kelly Allison Organizations: National Institute of Mental Health, University of North Carolina’s Center, Excellence, Disorders, McLean Hospital, Center, University of Pennsylvania Locations: United States, Massachusetts

☆ Air Canada pilots end 10-year contract framework, eye bargaining
▼ + stars: | 2023-05-29 | by ( Allison Lampert | ) www.reuters.com time to read: +2 min

Air Canada pilots have previously said they are pressing for "historic" gains to narrow the earnings gap with higher-paid aviators at U.S. carriers. "We were willing to meet with the company if they wanted to provide us with a substantial proposal that would further our membership’s goals," said the letter, adding Air Canada did not seek to open discussions. The Air Canada pilots group, which joined the Air Line Pilots Association (ALPA) this month, said in a separate document it expects a notice to bargain to be provided in early June. "Our pilots may elect to use the option that was available to them to initiate bargaining for a new collective agreement," Montreal-based Air Canada said in an emailed statement. U.S. pilots made gains in a recent tentative agreement with American Airlines (AAL.O) and a separate deal with Delta Air Lines (DAL.N) which delivers a 34% pay increase over four years.

☆ Elite High School’s Admissions Plan May Face Supreme Court Test
▼ + stars: | 2023-05-29 | by ( Adam Liptak | ) www.nytimes.com time to read: +1 min

In the coming weeks, the Supreme Court is very likely to forbid colleges and universities to use race as a factor in admissions decisions. Indeed, when the cases challenging the admissions programs at Harvard and the University of North Carolina were argued in October, some justices were already looking at the next question on the horizon: whether admissions officers may promote racial diversity by using race-neutral criteria. Those changes produced a class with more Black and Hispanic students and many fewer Asian American ones. In a dissent from last week’s decision that seemed to be addressed to the Supreme Court, Judge Allison J. Rushing wrote that the majority had refused “to look past the policy’s neutral varnish” and consider instead “an undisputed racial motivation and an undeniable racial result.”

☆ Ketchup inflation hits your weekend barbecue
▼ + stars: | 2023-05-27 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

New York CNN —Planning on squirting some ketchup on your hot dog at a barbecue this weekend? Though shoppers have been starting to see some relief in the grocery aisle, food inflation has been consistently outpacing overall inflation. Ketchup prices are piling up. Stefani Reynolds/AFP/Getty ImagesIn the year through April, grocery prices jumped 7.1%, according to the most recent data from the Bureau of Labor Statistics’ Consumer Price Index. NIQ’s own data shows that in the week through April 30, ketchup prices were up about 14% year-over-year.

☆ WestJet, pilots in tentative deal for 24% hourly raise over 4 years, document shows
▼ + stars: | 2023-05-26 | by ( Allison Lampert | ) www.reuters.com time to read: +2 min

MONTREAL, May 26 (Reuters) - WestJet Airlines pilots will get a 24% hourly raise over four years, plus other pay and benefits as part of a tentative agreement reached in May, according to a copy seen by Reuters on Friday. The tentative agreement was reached by Onex Corp's (ONEX.TO) WestJet and the Air Line Pilots Association (ALPA) less than 24 hours before the start of an expected strike at Canada's second-largest carrier. The deal, pending approval by WestJet pilots, is expected to put pressure on Air Canada (AC.TO) as the larger rival faces a call from its pilots to narrow the earnings gap with higher-paid aviators in the United States. Air Canada, which is not currently in negotiations, has said it abides by the 10-year contract. After 11 years, a top-paid Air Canada B787 pilot earns C$313.81 ($234.68) an hour, according to an internal table seen by Reuters.

☆ Passports: What to Know About Prices, Wait Times and Global Entry
▼ + stars: | 2023-05-22 | by ( Allison Pohle | ) www.wsj.com time to read: 1 min

The European Business Aviation Convention & Exhibition (EBACE), hosted in Geneva, kicks off on Tuesday and brings together everyone from brokers, planemakers to engine producers. CO2 emissions from private jets in Europe grew by 31% between 2005 and 2019, according to environmental group Transport and Environment. Protesters are expected to gather on Tuesday outside the conference location in Geneva to highlight the rising number of private jet flights amidst a worsening global climate crisis. "The big innovations are usually deployed first in our industry," Kok said. Business jet flights have dropped in Europe by around 6% compared with the same time in 2022, WINGX data showed.

☆ Wall Street gets bullish railroads on Monday, especially this one in particular
▼ + stars: | 2023-05-22 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Analysts on Wall Street are bullish on are bullish on a swath of railroad stocks, but one in particular stands out. Wells Fargo upgraded Norfolk Southern stock to overweight on Monday, with a $250 per share price target. NSC YTD mountain Norfolk Southern stock. Citi also upgraded Norfolk on Monday, as broader U.S. rail firms start to operate similar to "more cyclical companies" that are "likely to react more positively to improving TL [truckload] dynamics," wrote analyst Christian Wetherbee. Citi now has a buy rating on Norfolk stock with a $257 per share price target, or 18% upside.

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