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☆ Palo Alto Networks finally gets back on track — delivering strong earnings and a promising outlook
▼ + stars: | 2024-08-19 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

After two rough quarters, Palo Alto Networks on Monday evening delivered the type of earnings report we expect from one of the best cybersecurity companies in the world. PANW YTD mountain Palo Alto Networks YTD The issue with billings in recent quarters has been that the high cost of money has resulted in increased negotiations on terms and financing options. Palo Alto Networks Why we own it: We believe cybersecurity is a secular growth market as bad actors are relentless and companies simply cannot afford to not invest in defense. Palo Alto Networks headquarters in Santa Clara, California, US, on Monday, Aug. 14, 2023. Palo Alto Networks Inc. is scheduled to release earnings figures on August 18.

Persons: management's, billings, Dipak Golechha, Nikesh Arora, Arora, Palo, we're, platformization, I've, Jim Cramer, Jim Cramer's, Jim, David Paul Morris Organizations: Palo Alto Networks, Revenue, LSEG, Total billings, U.S, Networks, billings, Palo Alto, Alto Networks, Cisco Systems, Palo, CNBC, Bloomberg, Getty Locations: Palo, billings, XDR, Palo Alto, Santa Clara , California

☆ Harris and Trump both hate inflation. Their economic proposals could cause prices to go higher
▼ + stars: | 2024-08-19 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Both candidates’ plans would probably raise the deficit and increase demand, including through government spending and tightening the labor market, Joe Brusuelas, chief economist at RSM US, told CNN via email. Trump has so far not released as detailed an economic plan as Harris. Risks of fueling demandA central part of Harris’ economic plan is making housing more affordable. “The problem right now is too many people chasing too few houses,” Justin Wolfers, professor of public policy and economics at the University of Michigan, told CNN. Economists have told CNN that businesses would be forced to raise wages and prices.

Persons: what’s, Kamala Harris, Donald Trump, Harris, Trump, Joe Brusuelas, Brusuelas, Harris ’, ” Marc Goldwein, ” Goldwein, “, ”, Biden, Joe Biden, ” Justin Wolfers, Michelle Holder, Holder, …, ’ Trump, ” Harris Organizations: CNN, RSM, Budget, Child Tax, “, Federal Reserve, Tax Foundation, Social Security, University of Michigan, John Jay College, Center, American Progress Fund, Peterson Institute for International Economics, National Guard Locations: ”, New York, China

☆ Here's how a week's worth of huge economic news will affect the Fed's decision-making
▼ + stars: | 2024-08-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

We have to remember, the Fed made one mistake, the transitory" call on inflation, said Quincy Krosby, chief global strategist at LPL Financial. Specifically, the Fed is faced with how quickly and aggressively it should respond now that the inflation rate is waning . "Jay Powell says they don't want to be data point dependent, and I think that makes sense. I don't think you have signs of weakness in the economy. You don't have signs of inflation being controlled, and you don't have any signal for the Fed to switch focus."

Persons: Jerome Powell's, Jackson, Quincy Krosby, Krosby, Richard Clarida, nonfarm payrolls, Powell, Jay Powell, Clarida, we'll, Komal, Kumar, He's Organizations: Federal Reserve, Fed, LPL, CNBC, Sri, Kumar Locations: Jackson Hole , Wyoming

☆ Disney has a price problem. It has ambitious plans to fix that
▼ + stars: | 2024-08-16 | by ( Natasha Chen | ) edition.cnn.com time to read: +11 min

“With 2025 also being the opening of Universal’s Epic Universe, there will likely also be negative impacts on Walt Disney World attendance. Still, the price of Disney tickets today compared to past years prices out some families. The grievance from the fan community is that this used to be free at Disney parks. Transportation from the Orlando airport to Disney World property also used to be included for Disney hotel guests, but that service has been discontinued. Munsil said the Disney parks are “expensive, yes, but there’s nothing else on Earth like them.”

Persons: CNN —, Raymond James, Hugh Johnston, Josh D’Amaro, ” D’Amaro, D’Amaro, ”, “, Gary Hershorn, Tom Bricker, ” Bricker, Bricker, Don Munsil, Munsil, Mindy Marzec, ” Munsil, Victoria Wade, ” Wade, Wade Organizations: CNN, CNN — Disney, Disney, Walt Disney Parks and Resorts, Pixar, Corbis, “, Walt Disney, Walt Disney World, “ Star, Busch, Transportation, Food, Disney Food, Magic, Universal Studios, Magic Kingdom Locations: Orlando, Anaheim , California, Wakanda, California, Florida

☆ UK economy expands 0.6% in second quarter; June growth stalls
▼ + stars: | 2024-08-15 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The U.K. economy grew by 0.6% in the second quarter of the year, the Office for National Statistics said Thursday, continuing the country's cautious recession rebound. The British economy has recorded slight but steady growth almost every month so far this year, as the U.K. exits a shallow recession. On an annual basis the economy was 0.9% bigger in the second quarter, against a forecast of 0.8%. The pace of growth is unlikely to continue into the second half amid weaker wage growth, high interest rates and supply challenges, Thiru added. Over the April-June period, U.K. wage growth excluding bonuses cooled to a two-year low, but remained relatively hot at 5.4%.

Persons: Richard Carter, Cheviot Organizations: National Statistics, Reuters, Institute of Chartered Accountants, ONS, Bank of England's, U.S . Locations: York, U.K, England, Wales, London

☆ Inflation milestone: Consumer Price Index slows below 3% for first time since March 2021
▼ + stars: | 2024-08-14 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —Price hikes slowed more than expected in July, and, for the first time in more than three years, the Consumer Price Index has landed below 3%. Consumer prices rose 2.9% for the 12 months ended in July, slowing from June’s 3% annual gain, according to the Bureau of Labor Statistics’ latest CPI report released Wednesday. On a monthly basis, prices rose 0.2% after posting a 0.1% decline the month before. Economists were expecting a 0.2% monthly increase and an annual rise of 3%, according to Fact Set consensus estimates. Core CPI inflation is now running at its slowest pace since April 2021.

Persons: CNN — Organizations: CNN, Federal Reserve, Bureau of Labor Statistics ’

Despite the gloom about grocery costs, food price increases have generally been cooling for months. A central issue has plagued the Biden administration for most of its term: the steep rise in grocery prices. Despite the gloom about grocery costs, food price increases have generally been cooling for months. Image Several economists said they expected to see grocery inflation remain around current rates in the coming months. Grocery inflation remains a major political issueHigh food costs continue to pose a political challenge for the Biden administration.

Persons: Biden, Donald J, Trump, ”, David Ortega, Ortega, “ We’re, Mr, Jessica Attie, Omair Sharif, Sharif, Kamala Harris, Christopher B, Barrett, Jerlyn, “, Heisz Organizations: Bloomberg, Federal Reserve, Investors, Republican, White, Workers, Michigan State University, The New York Times, Agriculture Department, KPMG, Democratic, PepsiCo, Cornell University Locations: Ukraine, Platteville, Wis

☆ As a college professor, I know Gen Z gets a bad rap. But their strengths are being overlooked.
▼ + stars: | 2024-08-14 | by ( Lisa Chilcote Bacco | ) www.businessinsider.com time to read: +5 min

Read previewI've heard all kinds of stereotypes when it comes to Gen Z: They're lazy, they don't want to work, or they lack commitment. Gen Z has a unique way of learning, and they seek a different path to navigate college. For example, Gen Z highly favors a teaching method known as the flipped classroom, where students watch online videos and expert-narrated demonstrations before coming to class. AdvertisementThey're more likely to be mental health advocatesI've noticed Gen Z values interpersonal communication and engagement on mental health issues. This helps students forego classroom hours and zero in on apprenticeships and job training, with some now labeling Gen Z the "tool-belt" generation.

Persons: —, Gen, I've, Gen Z, Z, they're Organizations: Service, Business

☆ Urban biking is booming around the world, but New York City is falling behind
▼ + stars: | 2024-08-14 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

New York City has also seen a surge in bicycling since the pandemic caused many to avoid mass transit and ride shares. And the funding for the Streets Plan — more than $900 million — has already been allocated to DOT. The city streets were designed to maximize vehicle speed rather than to get as many New Yorkers around as efficiently and safely as possible. While New York City streets have generally gotten safer since the city adopted its 'Vision Zero' plan in 2014 to eliminate traffic deaths and serious injuries in 2014, progress hasn't been consistent. Advertisement"What New York City can learn is that when you commit to comprehensive bike infrastructure, it works," Elizabeth Adams said.

Persons: Adams isn't, Adams, doesn't, Elizabeth Adams, Kathy Hochul, it's, they're Organizations: Service, Business, Department of Transportation, DOT, Transportation, New York Gov, New Locations: Paris, New York City, New York, London, Manhattan, Cities, Tokyo, York City

☆ Reserve Bank of New Zealand cuts cash rate by 25 basis points, lowers rate forecasts
▼ + stars: | 2024-08-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A security guard stands in the main entrance to the Reserve Bank of New Zealand located in central Wellington, New Zealand, July 3, 2017. The Reserve Bank of New Zealand lowered its cash rate by 25 basis points to 5.25% on Wednesday. The move surprised economists polled by Reuters, which were expecting the central bank to hold rates unchanged at 5.5%. This is the first time the central bank has cut the official cash rate since March 2020. In its release, the RBNZ noted that consumer price inflation is returning to its target range of 1% to 3%.

Organizations: Reserve Bank of New, Reuters Locations: Reserve Bank of New Zealand, Wellington , New Zealand, New Zealand

☆ This high school is replacing teachers with ChatGPT and AI tools to personalize learning for some students
▼ + stars: | 2024-08-14 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Read previewA high school in London is replacing teachers with AI tools such as ChatGPT to help some students prepare for exams. In the pilot scheme at David Game College starting in September, 20 students who are about 15 years of age will use AI tools for a year before taking their GCSE exams. This story is available exclusively to Business Insider subscribers. The students will also be supported by three full-time learning coaches, and will receive personalized learning paths. He added that the college has "humanized the AI learning process by creating a holistic and engaging educational experience."

Persons: —, John Dalton, coprincipal, Dalton, Hadida, Grabow, Karl Knapp Organizations: Service, David Game College, Business, Higher Learning, Los Angeles Unified School, University of Indianapolis Locations: London, Hadida Grabow

☆ Kamala Harris Has Shed Biden's Economic Record, Could Beat Out Trump
▼ + stars: | 2024-08-14 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

When people say they're concerned about "the economy," it can mean a lot of things — grocery prices, gas prices, housing prices, healthcare. For one thing, it's not clear that voters think Harris, as vice president, has had much involvement in Biden's economic policies. People remember the Trump economy as a better time — interest rates were lower, prices were lower, houses seemed more affordable. AdvertisementThe task for Harris now is to lay out an economic identity and agenda before others beat her to it. The Trump campaign and the GOP are trying to tie her to the negative feelings around the Biden economy, to affordability and inflation.

Persons: Kamala Harris, Joe Biden's, Harris, Kamala, Donald Trump, Bill Clinton's, Jim Carville, —, it's, Biden, Trump, Harris — Trump, Evan Roth Smith, Smith, Eli Yokley, Mark Zandi, Tim Walz, Minnesota, Yokley, Whit Ayres, Donald Trump's, she's, He's, Bharat Ramamurti, Emily Stewart Organizations: Democratic, Republican, Financial Times, University of Michigan's Ross School of Business, Trump, Biden, Lake Research Partners, Democrat, Voters, Morning, Federal, Moody's, House, Democrats, National Economic, GOP, Business Locations: China, California, Las Vegas

Trump’s allies are also publicly making their pitch for him to refocus his attention on the race. “You’ve always got to be assessing the state of the race, and I would like to see more offense from the Trump campaign. On a swing of battleground states last week, Harris and her new running mate were greeted by a groundswell of supporters at each stop. "This was a TRUMP idea — She has no ideas, she can only steal from me," Trump wrote on Truth Social. In an appearance on Real America’s Voice last week, Trump’s political director, James Blair, made the case that it is a state-by-state race.

Persons: Donald Trump, Kamala Harris, Trump, ”, ” Trump's, “, Harris, Joe Biden's, Brian Kemp, Kevin McCarthy, “ You’ve, ” McCarthy, Tim Sheehy, Dan Eberhart, —, Biden, ” Trump, outpacing Harris, ” Karoline Leavitt, Trump’s, Walz, David Lee, Chris Grant, James Blair Organizations: Republican, Trump, NBC News, Fox News, Montana, Democrat, ”, Mar, Biden, ABC, Harris, Privately, CNBC, Democratic, “, Labor, MAGA Inc, Politico, Real America’s Voice Locations: Georgia, Bozeman, Asheville , North Carolina, Pennsylvania, Florida, Las Vegas, Arizona, Michigan , Wisconsin , Nevada, North Carolina

☆ Tropical Storm Ernesto eyes Puerto Rico while plowing through Caribbean islands
▼ + stars: | 2024-08-13 | by ( Mary Gilbert | ) edition.cnn.com time to read: +4 min

CNN —Tropical Storm Ernesto is slamming the northern Caribbean with heavy rain, gusty winds and rough seas Tuesday as it sets up to take a swipe at Puerto Rico. Satellite imagery captures Tropical Storm Ernesto churning over the northeastern Caribbean as the sun rises Tuesday morning. Tropical storm warnings are in effect for Puerto Rico and the Leeward Islands, including the US and British Virgin Islands. Rainfall totals of 4 to 6 inches will be widespread, with up to 10 inches possible in parts of Puerto Rico. Flash flooding and mudslides are possible as a result, especially in the higher terrain areas of eastern and southern Puerto Rico.

Persons: Ernesto, It’s, Barthélemy, Bart’s, Hurricane Maria, ” Juan Saca Organizations: CNN, Puerto, National Hurricane Center, NOAA, US, British Virgin Islands, Puerto Rico Tuesday, National Guard, Associated Press, Hurricane, Luma Energy, AP Locations: Caribbean, Puerto Rico, Guadeloupe, Leeward, British Virgin, British, Puerto, Hispaniola, Bahamas, Bermuda, It’s, US East Coast

☆ 'We haven't seen the bottom in this correction': Dan Niles names 2 tech stocks to ride out a potential recession
▼ + stars: | 2024-08-13 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Hedge fund manager Dan Niles is betting on Apple and Meta Platforms as two stocks that can ride out a potential U.S. recession. Apple Niles expects strong revenue growth in the coming year as consumers upgrade to AI-enabled iPhones. "Their revenue growth has been minuscule the last three years because people already have a smartphone. "I think that revenue growth goes to double digits over 10% probably next year, as people upgrade to an AI-enabled smartphone." Meta Niles expressed particular confidence in Meta's prospects, praising the company's effective use of AI in its core business.

Persons: Dan Niles, Niles, CNBC's, AAPL, Apple Niles, Meta Niles, Meta Organizations: Apple, Niles Investment Management, Meta, Google, Microsoft

☆ Here are Tuesday's biggest analyst calls: Netflix, Amazon, Lyft, CrowdStrike, Dell, Disney, Hormel, Eli Lilly, Home Depot & more
▼ + stars: | 2024-08-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are the biggest calls on Wall Street on Tuesday: Wells Fargo initiates Rollins as overweight Wells says it's bullish on shares of the pest control company. Goldman Sachs reiterates Disney as buy Goldman said it's sticking with its buy rating following Disney's biennial D23 fan event in California. " Wells Fargo initiates ITeos Therapeutics at overweight Wells said in its initiation of coverage into ITeos that the biotech company has multiple catalysts ahead. Bank of America reiterates Lyft as buy The bank said the ride sharing company is trading at a "significant discount." Wells Fargo reiterates Home Depot as overweight Wells says investors should buy the dip in Home Depot shares following earnings Tuesday morning.

Persons: Wells, Rollins, it's bullish, Goldman Sachs, Goldman, Bernstein, WBD, BTIG, Eli Lilly, Stifel, Lyft Organizations: Wells Fargo, Disney, UBS, JPMorgan, Netflix, Mizuho, Palo Alto, Barclays, Dell, DELL, Citi, Sales, Warner Brothers Discovery, ITeos, " Bank of America, Bank of America, Co, McCormick &, Depot, Amazon Locations: California, Turkey

☆ Why Wall Street thinks Brian Niccol is the person to revive Starbucks — and end the Howard Schultz era
▼ + stars: | 2024-08-13 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

In this article SBUXCMG Follow your favorite stocks CREATE FREE ACCOUNTBrian Niccol, CEO of Chipotle Anjali Sundaram | CNBCWall Street believes Brian Niccol is the right choice to turn around Starbucks — and move the chain past the decadeslong Howard Schultz era. Starbucks tapped Niccol as its latest chief executive and chair on Tuesday. Niccol replaces Laxman Narasimhan, who took over the top job in March 2023 after being handpicked by former CEO Schultz. Other analysts wrote glowingly of Niccol, seeing him as the right person to tackle Starbucks' sluggish sales. Some analysts believe that having Niccol, an experienced restaurant CEO, in the driver's seat could mean that Schultz finally moves on.

Persons: Brian Niccol, Chipotle Anjali Sundaram, Howard Schultz, Niccol, Laxman Narasimhan, Schultz, TD Cowen, Andrew Charles, Piper Sandler, Baird, Oppenheimer, Brian Bittner, Brian, David Palmer, Morgan Stanley, Brian Harbour, Mellody Hobson, Niccol's, Hobson, Gordon, Don Bilson, Chipotle, Steve Ells, Bernstein, Danilo Gargiulo Organizations: CNBC, Starbucks, SBUX, Newport Locations: Denver, Newport Beach

☆ A key inflation gauge showed price hikes slowed last month. But economic jitters remain
▼ + stars: | 2024-08-13 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —US wholesale inflation slowed as expected in July, easing after an unexpected flare-up the month before. On a monthly basis, prices rose 0.1%, a slower pace than the 0.2% increase seen in June. Economists had expected that prices would increase 0.2% on a monthly basis and slow to 2.3% annually, according to FactSet estimates. The modest monthly increase in the overall PPI was attributed to a 0.6% jump in goods prices, according to the BLS report. When stripping out energy and food prices — categories that also tend to be volatile — core PPI prices were flat for the month, bringing down the annual gain to 2.4%, its lowest since March.

Persons: Price Organizations: CNN, of Labor Statistics, PPI, BLS, CPI

☆ Australia's second-quarter wages rise at slowest pace in a year
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: +2 min

Australian wages rose at their slowest pace in a year in the June quarter, falling short of expectations, while softer gains in the private sector suggest the labor market was easing. "The RBA will be somewhat relieved to see wage pressures subsiding," said Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia. "However, absent an improvement in productivity growth, the current pace of wage growth is still a little too strong for inflation to return to target quickly." The overall increase in annual wages was still just enough to take it above inflation of 3.6%, a welcome return to real pay growth after years of negative outcomes. Incomes will get an added boost from a major round of tax cuts that started in July.

Persons: Sean Langcake Organizations: Australian Bureau, Statistics, Oxford Economics Australia, Reserve Bank of Australia

☆ Stock market today: Indexes climb as producer inflation comes in cool
▼ + stars: | 2024-08-13 | by ( Max Adams | ) www.businessinsider.com time to read: +4 min

Stocks were higher on Tuesday after PPI showed wholesale inflation was less than expected in July. Investors are now bracing for the consumer inflation reading due out on Wednesday. AdvertisementUS stocks were up on Tuesday after the producer price index for July showed wholesale inflation rose less than expected. Data from the Bureau of Labor Statistics showed that producer prices increased 0.1% last month compared to estimates of 0.2%. The cooler-than-expected reading should boost optimism for consumer prices to show a decline in inflation when the consumer price index is released on Wednesday.

Persons: —, Chris Zaccarelli, Laxman Narasimhan, Brian Niccol, Elon Musk Organizations: PPI, Investors, Service, Bureau of Labor Statistics, Federal Reserve, Fed, Depot, Bank of America, Starbucks, Trump Media, Elon

☆ Trump called inflation a disaster for consumers — and Musk blamed it on government waste
▼ + stars: | 2024-08-13 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Donald Trump and Elon Musk called out the pain caused by high levels of inflation in recent years. Trump bemoaned that people can't afford groceries and savers have been "decimated" by rising prices. Musk blamed inflation on government overspending and pushed for deregulation to bring down costs. Go to newsletter preferences Thanks for signing up! AdvertisementDonald Trump and Elon Musk lamented the brutal impact of rising prices in their X Spaces conversation on Monday.

Persons: Donald Trump, Elon Musk, Trump, — Organizations: Service, Elon, Business

☆ Fact check: Trump made at least 20 false claims in his conversation with Elon Musk
▼ + stars: | 2024-08-13 | by ( Daniel Dale | ) edition.cnn.com time to read: +34 min

Here is a fact check:CrimeTrump claimed, “Our crime rate’s going through the roof.”Facts First: Trump’s claim is false. Facts First: Trump did express uncertainty about the number, but his “like 60 million or something” claim is false. They take ‘em out, and they bring them to the United States.”Facts First: Trump’s claim is baseless. He said, “With Ukraine, so we’re in for $250 billion and they’re in for about $71 billion.”Facts First: Trump’s claim is false. But Trump’s claim that the US has committed or provided far more aid than Europe is not true regardless.

Persons: Donald Trump, –, Elon Musk, Kamala Harris, Trump, Jeff Asher, ” Anna Harvey, “, we’ve, ”, Biden, Gary Griggs, Griggs, Harris, Harris “, ” Trump, wasn’t, Alejandro Mayorkas, Breitbart, ” Roberto Briceño, Venezuela’s, León, Joe Biden, ” Michelle Mittelstadt, can’t, Steven Cheung, Congo ’ Trump, Patrick Muyaya Katembwe, ” Serge Mombouli, Barack Obama’s, Obama, Obama’s, We’ll, Ukraine Trump, Europe Trump, Trump’s, Mike Pompeo, ” Pompeo, China, you’re, ‘, Iran haven’t, ” Matt Smith, Biden’s, Smith, Ali Vaez, Ronald Reagan’s, Barack Obama, George W, they’d, Scott Gottlieb, ” Gottlieb, General Merrick Garland, Musk, Alvin Bragg’s, Matthew Colangelo, Colangelo, Bragg, CNN’s Tami Luhby, William Montes Organizations: Washington CNN, Republican, Democratic, Public, New York University, CNN, Major Cities Chiefs Association, Biden, Global, Trump, NASA, Meteorological Organization, University of California, Oceanic, Fox News, The New York, White, Homeland, Central, “, Border, Venezuelan, of, Patrol, Republicans, Migration, Institute, Breitbart, Congo, PAC, Central America Trump, Obama, Customs Enforcement, Policy Institute, ICE, El Salvador, Electoral, Ukraine, Kiel Institute, European Union, European Automobile Manufacturers ’ Association, State, Americas, Crisis, Federal, Defense Department, Food and Drug Administration, FDA, Justice Department, New Locations: Trump’s, Santa Cruz, Gulf of Mexico, Florida, Mar, El Salvador, Guatemala, Honduras, United States, Mexico, Venezuela, “ Venezuela, Congo, Democratic Republic of Congo, Republic of Congo, Africa, Republic of, Washington, Europe, Ukraine, Germany, Kiel, ”, EU, Iran, Lebanon, Israel, China, that’s, Kpler, Malaysia, Afghanistan, Asia, Fulton County , Georgia, Manhattan, New York

That’s why, he said, he invested in AppHarvest, a startup that promised a high-tech future for farming and for the workers of Eastern Kentucky. Despite promising local jobs, the company eventually began contracting migrant workers from Mexico, Guatemala and other countries, numerous former employees told CNN. After about a week on the job, Vance took a meeting with AppHarvest founder Jonathan Webb, as Webb later recounted in a Fox News podcast interview. The company’s health care benefits attracted Morgan, a single father, who told CNN he took a pay cut to join the startup. Such comments ring hollow to some former AppHarvest workers, who argue Vance’s rhetoric as a candidate for vice president doesn’t align with the reality they experienced.

Persons: JD Vance, Vance, “ It’s, it’s, ” Vance, AppHarvest, Donald Trump’s, Kentuckians Vance, weren’t, ”, Anthony Morgan, “, Luke Schroeder, AppHarvest’s, JD, Jonathan Webb, Webb, Peter Thiel’s, Thiel, Steve Case, Vance “, Morgan, ” Morgan, ’ ” Anthony Morgan, Shelby Hester, Hester, ” Hester, Grist, Andrew Miller, David Attenborough, Bethany, Gary Broadbent, “ AppHarvest, Mitch McConnell, Hester’s, Mitch Smith, bigwigs, CNN AppHarvest, Martha Stewart, Broadbent, doesn’t Organizations: CNN, Fox, Republican, US Department of Labor, PayPal, AOL, Fox News, AppHarvest, Morehead State University, Workers, Kentucky’s Education, Labor Cabinet, Kentucky Center, Investigative, Kentucky Republican, Securities and Exchange Commission, Retirement Association, Senate, Republican National Convention Locations: AppHarvest, Eastern Kentucky, Kentucky, Mexico, Guatemala, Ohio, Silicon Valley, Morehead, Appalachia, gurneys, Plymouth, Massachusetts, Canada, ”

☆ Wednesday's big CPI inflation report could mark a change in thinking for the Fed
▼ + stars: | 2024-08-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

watch nowThe PPI report, seen as a gauge of wholesale inflation, showed prices up just 0.2% in July and about 2.2% from a year ago. Still, investors are looking for the Fed at its September meeting to start cutting interest rates, considering that inflation is weakening and so is the labor market. Another benign inflation report "makes the Fed completely comfortable that they can shift their focus away from inflation and toward labor," said Tom Porcelli, chief U.S. economist at PGIM Fixed Income. There are cracks forming in the labor market backdrop." "I'm as curious about [Wednesday's] inflation report as anyone else, but I think it would take a real outlier to change the Fed's tune from 1) shifting to labor as its focus, and 2) seriously thinking about cutting in September," Porcelli said.

Persons: Jim Baird, Plante, Baird, Dow Jones, there's, Tom Porcelli, Porcelli Organizations: Walmart, Labor Department, Federal Reserve, Financial Advisors, PPI, Fed, Traders

☆ The US and some its allies just pulled off a milestone first by letting AI target enemies like it would in a war
▼ + stars: | 2024-08-12 | by ( Chris Panella | ) www.businessinsider.com time to read: +1 min

The US, UK, and Australia let AI detect and target enemies in a real-time simulated battle environment. The ground-breaking exercise is the first time AI was tested in this way, per the British military. The autonomous systems reduced the time it took to identify enemies. AdvertisementThe US and its allies employed artificial intelligence systems to target enemies in a real-time, simulated battle environment for the first time. The exercise marks a major moment in the AI race that's pushing the US, its allies, and adversaries to develop and deploy autonomous capabilities at a breakneck pace.

Persons: — Organizations: British, Service, Artificial Intelligence, US Army, Business Locations: Australia

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