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☆ 2 recession indicators with perfect track records show the US just entered a downturn — opening the door for stocks to plummet as the Fed gets set to cut rates
▼ + stars: | 2024-08-03 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

AdvertisementSt. Louis FedDespite the Sahm Rule's impressive history, it is sometimes criticized because it fails to account for rising labor participation, which can raise the unemployment rate. In addition to downcast labor market data, the ISM Manufacturing Index fell further into contraction territory this week, signaling that US manufacturing continues to slow. The market's direction also depends on how investors interpret interest rate cuts alongside future data. Fed funds rate futures markets are now pricing in a 50-basis-point cut in September, according to the CME FedWatch Tool. AdvertisementHartnett and his team analyzed Fed rate-cutting cycles and identified three different types of rate cuts — cuts into a soft landing, cuts into a hard landing, and panic cuts, which are due to a credit event or some sort of Wall Street crisis.

Persons: —, Claudia Sahm —, Louis Fed, Piper Sandler, Tom Essaye, Jack McIntyre, Lara Castleton, Janus Henderson, Michael Kantrowitz, we've, Kantrowitz, Michael Hartnett, Hartnett Organizations: Service, Bureau of Labor Statistics, Business, Labor, Brandywine Global, ISM, Nasdaq, Fed, Janus, Janus Henderson Investors, Bank of America, Fund

☆ USWNT 1 Japan 0: Trinity Rodman’s extra-time goal lifts a tired U.S. team to the Olympic semifinals
▼ + stars: | 2024-08-03 | by ( Steph Yang | Jeff Rueter | ) www.nytimes.com time to read: +10 min

The trio who had been so dominant in the group stage slowed in the knockout round opener. Sure, but Japan is also a very clinical team, able to cede possession and attack when they can create chances. Rodman’s extra-time goal keeps USWNT Olympic hopes aliveComing into the Olympics, Rodman’s role with the USWNT had largely been one of a creator. Throughout the group stage, few teams had as well-rounded a line anywhere on a field as the United States’ attack. AdvertisementThroughout the group stage, three teams stood out in underlying metrics: the United States, Japan, and Spain.

Persons: Trinity Rodman, Emma Hayes ’, Rodman, Mallory Swanson, Sophia Smith, ” Hayes, Lynn Williams, Jeff Rueter, Steph Yang, Swanson, Smith, TRINITY RODMAN, w., S. Organizations: women’s, Swanson, Paris Games, U.S, Japan, EADS Locations: Japan, U.S, United States

☆ Katie Ledecky just can’t stop making history
▼ + stars: | 2024-08-03 | by ( Kyle Feldscher | ) edition.cnn.com time to read: +4 min

Nanterre, France CNN —When you’re the most decorated women’s swimmer in history, it’s a little difficult to keep topping yourself. It’s the way she’s doing them. In this particular race, the focus was on Ledecky and Titmus from the jump. Within the first 100 meters of the race, Ledecky led Titmus by a head. The noise grew as they neared the wall, and Ledecky hit the wall 1.25 seconds ahead of her Australian nemesis.

Persons: Katie Ledecky, Ariarne, Larisa Latynina, •, Michael Phelps, it’s, ”, “, Titmus, Ledecky, ” Titmus, she’s, “ She’s, ” Ledecky, I’m, she’d, I’ve, – Organizations: France CNN, Olympics Locations: Nanterre, France, Australia, Soviet, Tokyo, Titmus, Ledecky

☆ Emhoff acknowledges affair during first marriage after tabloid report
▼ + stars: | 2024-08-03 | by ( Edward-Isaac Dovere | ) edition.cnn.com time to read: +4 min

CNN —Vice President Kamala Harris’s husband Doug Emhoff acknowledged Saturday in a statement to CNN that he had an affair during his first marriage after the alleged details of the relationship were published by a British tabloid. “During my first marriage, Kerstin and I went through some tough times on account of my actions. The statement comes after the Daily Mail reported that Emhoff had a relationship with one of his then-young daughter’s teachers, which resulted in the end of his first marriage. The person also said that Emhoff had told Harris about the affair well before they got married. Doug Emhoff married Harris in 2014, when he was working as an entertainment lawyer in Los Angeles and she was California attorney general.

Persons: Kamala Harris’s, Doug Emhoff, Kerstin, ” Emhoff, Emhoff, Joe Biden’s, Harris, “, ”, Brian Fallon, Fallon, Kerstin Emhoff, Vance, Cole, Ella, Kamala, Doug, ” Kerstin Emhoff, “ Dougie ”, Biden, “ She’s, “ We’ve, they’re, Samantha Waldenberg Organizations: CNN, Daily Mail, The Daily Mail, Democratic, Biden, Republican, Naval Observatory Locations: British, Los Angeles, California, Washington

☆ U.S. women's rugby team's recent $4M gift is momentous for the sport: 'We've always wanted to be included'
▼ + stars: | 2024-08-03 | by ( Renée Onque | ) www.cnbc.com time to read: +1 min

Earlier this week, the U.S. women's rugby sevens team earned their first Olympic medal in history, and it marks a positive turn for the women's sport that's been overlooked for decades. I mean, there's no other way to put it," says Phaidra Knight, a former U.S. women's rugby sevens team player and World Rugby Hall of Fame inductee. "It will have incredible and substantial implications for the future of not only women's rugby, but rugby in America." When Knight became a player on the U.S. National Rugby union team, which is different from the sevens team, in 1999, the program didn't receive funding, she says. Many professional rugby players join the U.S. National union teams prior to joining a sevens team; four national teams are under USA Rugby.

Persons: Phaidra Knight, Sunny Choi, ’, Michele Kang, Knight Organizations: rugby, World Rugby Hall of Fame, U.S . National Rugby union, U.S . National, USA Rugby, U.S Locations: U.S, America, Paris

☆ Doug Emhoff, Husband of Kamala Harris, Acknowledges Long-Ago Affair
▼ + stars: | 2024-08-03 | by ( Ken Bensinger | Jim Rutenberg | ) www.nytimes.com time to read: +1 min

Doug Emhoff, the husband of Vice President Kamala Harris, said on Saturday that he had an extramarital affair during his first marriage, years before he met Ms. Harris. At the time, Mr. Emhoff, an entertainment lawyer, was married to Kerstin Emhoff, a film producer, with whom he had two children. Mr. Emhoff met Ms. Harris in 2013, and they married the following year. “During my first marriage, Kerstin and I went through some tough times on account of my actions,” Mr. Emhoff said in the statement. “I took responsibility, and in the years since, we worked through things as a family and have come out stronger on the other side.”

Persons: Doug Emhoff, Kamala Harris, Harris, Emhoff, Kerstin Emhoff, Kerstin, ” Mr, “, ” Locations: Culver City, Calif

☆ What to watch at Olympics today: Sha’Carri Richardson, Simone Biles, Katie Ledecky — and so much more
▼ + stars: | 2024-08-03 | by ( Lukas Weese | ) www.nytimes.com time to read: +8 min

ET, 5:16 p.m. in Paris (men’s pommel horse)TV: NBC and PeacockWhat to watch: Biles continues her gold medal aspirations when she competes in the individual vault competition. Biles enters the vault competition as the leader from qualifying after posting a 15.3. The Canadiens, reigning gold medal winners, needed to win all three matches to get through — and they did. GO DEEPER Ledecky becomes most decorated U.S. female OlympianCanadian Summer McIntosh eyes her third Olympic gold at just 17 years old. With a win Saturday, Crouser would be the first male shot putter to win three Olympic gold medals.

Persons: We’ve, Sha’Carri Richardson, Simone Biles, Stephen Nedoroscik, Katie Ledecky’s, —, Nedoroscik, Biles, Jade Carey, Rebeca Andrade, Nedoroscik —, Ireland’s Rhys McClenaghan, Peter Vidmar, It’s, Richardson, Jamaica’s Shericka Jackson, Jamaica’s Shelly, Ann Fraser, Pryce, Sha'Carri Richardson, Mallory Swanson, Alex Livesey, Sophia Smith, Trinity Rodman dazzled, Emma Hayes ’, Hayes, Davidson, Shaw, Ledecky, American Paige Madden, Ariarne, McIntosh, American Kate Douglas, Douglass, Crouser, Ryan Crouser, American Joe Kovacs, Germany’s Leo Neugebauer, Michael Steele, Damian Warner, Kevin Mayer of, Pierre LePage, Leo Neugebauer, Ayden Owens, Sander Skotheim, Franz Wagner, Orlando, Wagner, Andrej Isakovic Organizations: Paris Olympics, NBC, U.S, USA, Stade de France, Getty, United, Olympic, Canada, FIFA, New Zealand, Canadiens, Spain, Canada Soccer, La Defense, Ledecky, Kevin Mayer of France, Puerto Rico Locations: Paris, American, Sha'Carri, USWNT, Canada, women’s, United States, Japan, Germany, U.S, Colombia, France, Brazil, Los Angeles, Tokyo, Puerto, Norway, AFP

☆ In the battle between Kamala Harris and Donald Trump, clothing says a lot
▼ + stars: | 2024-08-03 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +8 min

Read previewIf Vice President Kamala Harris and former President Donald Trump ever stand next to one another on the debate stage, viewers watching from their living rooms will notice — even if subconsciously — what the two candidates are wearing. AdvertisementTrump has tailored the traditional masculine suit to fit both his body and his brand. Guy said that Trump often wears navy blue Brioni suits, which are reminiscent of 1980s power silhouettes. Related storiesTrump's campaign celebrated his styling choices, as spokesperson Steven Cheung said, "President Trump has the most style of any President in history." Given his background in reality television, Saha said that Trump understands the game of quick visual communication and knows that clothing can send signals about values.

Persons: —, Kamala Harris, Donald Trump, Joe Biden, Harris, Derek Guy, Guy, Trump, Sparsha Saha, Shauna Shames, Shames, Steven Cheung, pantsuits, Manolo, she'll, Saha, Joseph Altuzarra, It's, Rachel Tashjian, I've Organizations: Service, Democratic, Business, Trump, Harvard, Rutgers University, Converse, New York Times, Vogue, Republican, Washington Post Locations: American, Washington

☆ Listeria outbreak triggers Boar’s Head deli meat recall – What you need to know
▼ + stars: | 2024-08-02 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +3 min

A deadly food poisoning outbreak has led to the recall of more than 7 million pounds of popular Boar’s Head deli meats made at a plant in Virginia. U.S. health officials are investigating the outbreak of the bacteria listeria that began in May. Listeria bacteria thrive in moist environments, including soil and water and decaying vegetation and are carried by some animals. What should I do if I have the recalled deli meats? The recalled meats carry the plant’s number — EST.12612 or P-12612 — inside the USDA mark on the label.

Persons: listeria, Justin Sullivan, Boar’s Organizations: Centers for Disease Control, Agriculture Department, Safeway, CDC Locations: Virginia . U.S, Maryland, San Rafael , California, bologna, Virginia, Cayman Islands, Dominican Republic, Mexico, Panama

In May, former President Donald Trump declared that he was the only person who could obtain the release of Wall Street Journal reporter Evan Gershkovich from a Russian prison. That’s the way it should be, or this situation will get worse and worse.”Facts First: Trump’s claim that he gave opposing countries “NOTHING” to secure the freedom of American prisoners is false. “The previous administration also conducted prisoner exchanges. It’s not easy.”FactCheck.org debunked this Trump claim about his record on securing the release of American prisoners abroad when he previously made it in 2022. Read more here about four prisoner exchanges under Trump.

Persons: Donald Trump, Evan Gershkovich, Joe Biden, Gershkovich, Trump, ’, Jake Sullivan, John Kirby, Whelan, Trevor Reed, Biden, “, …, You’ve, It’s, FactCheck.org, Read Organizations: Wall Street, Biden White House, National Security, CNN, Trump Locations: Russia

☆ A 'prosecutor' vs. 'weak': The battle intensifies to define Harris
▼ + stars: | 2024-08-02 | by ( Yamiche Alcindor | Yamiche Alcindor Is An Nbc News Washington Correspondent. | ) www.nbcnews.com time to read: +14 min

Harris’ campaign rallies are a clear change from those held by President Joe Biden, the man she is replacing at the top of the Democratic ticket. So hear me when I say: I know Donald Trump’s type.”But the Trump campaign is rushing to define Harris differently. “She knows this is going to be a very close race,” Julie Chávez Rodríguez, Harris’ campaign manager, said in an interview. Chávez Rodríguez and Harris have been close for nearly a decade, since Chávez Rodríguez first took a job as state director for Harris’ Senate office in 2016. The Harris campaign has launched a website advertising more than five dozen jobs.

Persons: Kamala Harris, Harris ’, Joe Biden, Megan Thee, —, ”, Donald Trump, “, fraudsters, cheaters, Donald Trump’s, Trump, Harris, ” Trump, Brian Hughes, She’s, ” Julie Chávez Rodríguez, ” Chávez Rodríguez, The, Jen O’Malley Dillon, Biden, Chávez Rodríguez, Chávez, we’re, ” Ashley Etienne, ” Etienne, ” “ Joe Biden, Hughes, Biden’s, ” Harris, Trump’s, “ It’s, Howard, “ Kamala Harris, Judy Chu, Chu, ” Chu, that’s, he’d Organizations: Democratic, Democratic Party, United, Trump, Biden, The Trump, NBC, MAGA Inc, Inc, Central, Northern, Howard University, Washington , D.C, Alpha Kappa Alpha, National Association of Black Journalists, Black, Sigma Gamma Rho, Atlanta, Congressional Asian Pacific American Caucus Locations: United States, California, Wisconsin, Harris ’, North Carolina, El Salvador, Guatemala, Honduras, Mexico, Washington ,, Chicago, Houston, Monterey Park , California

☆ Black Muslim group endorses Harris after its 'uncommitted' stance on Biden
▼ + stars: | 2024-08-02 | by ( Yamiche Alcindor | Yamiche Alcindor Is An Nbc News Washington Correspondent. | ) www.nbcnews.com time to read: +6 min

The first national Muslim organization that had declared itself "uncommitted" on President Joe Biden's re-election bid is endorsing Vice President Kamala Harris' candidacy. “She has shown more sympathy towards the people of Gaza then both President Biden and former President Donald Trump,” Suswell said of Harris. The group’s endorsement is significant given the backlash the Biden administration has faced from the Muslim community over its handling of the war. “It wasn’t an easy meeting for the president,” Suswell said. I think she’s more open to having conversations around ending the war.”Suswell added that her group was also moved to support Harris publicly because of her stances on domestic issues.

Persons: Joe Biden's, Kamala Harris, Salima Suswell, Biden, Donald Trump, ” Suswell, Harris, “, Netanyahu’s, Suswell, ”, ” Harris, Benjamin Netanyahu, Israel, Netanyahu, Donald Trump’s, Trump Organizations: Muslim, Black Muslim Leadership Council Fund, NBC, Black Muslim Leadership Council, Biden, Israeli, White Locations: Gaza, Israel, Selma , Alabama, ”, Wisconsin , Michigan, Georgia, Pennsylvania, Palestine

☆ Inmate on death row for 33 years must either be released or retried over prosecutorial misconduct
▼ + stars: | 2024-08-02 | by ( Stephanie Becker | ) edition.cnn.com time to read: +5 min

The judge’s ruling, at the request of California Attorney General Rob Bonta, gives the Alameda County prosecutor’s office 60 days to retry 71-year-old Curtis Lee Ervin or let him go free. Bonta conceded the Alameda prosecutors in the Ervin case illegally excluded Black jurors. Alameda County now must make a decision by September 30. Last month, she announced plans for the resentencing of Dykes and one other death row inmate for Batson violations. Those notes showed a bias against potential Jewish and Black jurors, according to the DA’s office.

Persons: CNN —, general’s, Rob Bonta, Curtis Lee Ervin, Ervin, Pamela Price, Price, Bonta, Carlene McDonald, Ervin’s, Robert McDonald, McDonald, Pamala Sayasane, He’s, ” Sayasane, KGO Sayasane, Sayasane, Batson, Ernest Dykes, ”, Brian Pomerantz, ” Pomerantz, Linda Kenney Baden, Phil Spector, Casey Anthony, Aaron Hernandez, “ Witnesses, ” Baden, sully, “, ” Dykes Organizations: CNN, Alameda County prosecutor’s, Alameda, KGO, Pomerantz, California Attorney General’s Locations: California, Alameda County, general’s, Oakland , California, Dykes, Washington, Connecticut, New York

☆ I spent 18 months and $34,000 traveling the world, and felt more lost than ever—4 lessons I learned about happiness
▼ + stars: | 2024-08-02 | by ( Helen Zhao | ) www.cnbc.com time to read: +5 min

I had quit my dream job as a video journalist to heal my burnout and find happiness beyond traditional measures of success and prestige. Happiness is not about extremes, but balanceFor years, I thought working my dream job would bring me the ultimate happiness. I realized that I won't find lasting happiness unless I'm living a life balanced between adventure, rest, productivity, and learning. I realized that I won't find lasting happiness unless I'm living a life balanced between adventure, rest, productivity, and learning. I was jealous — my life felt lame in comparison to the epic, picture-perfect lives they seemed to lead.

Persons: I'd, Helen Zhao, doesn't Locations: Los Angeles, South America, Asia, Indonesia, Vietnam, Patagonia, Los Angeles and New York City, Southeast Asia, LA, Bali

☆ Ice vests, extra breaks and slushies: Olympians are struggling to keep cool in the Paris heat
▼ + stars: | 2024-08-02 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

U.S. gymnastics superstar Simone Biles isn't the only Olympian feeling the Paris heat. A rain-soaked 2024 Olympics opening ceremony has since given way to sun and heat warnings, with temperatures in the French capital climbing to as high as 36 degrees Celsius (97 degrees Fahrenheit) in recent days. "Don't come for me about my hair," Biles said via Instagram before Tuesday's gymnastics team final. "IT WAS DONE but bus has NO AC and it's like 9,000 degrees. They give bottles to the players but the bottles don't stay cool, so, you know, you're drinking hot water out there," he added.

Persons: Jack Draper, Taylor Fritz, Suzanne, Lenglen, Simone Biles isn't, Biles, haven't, it's, Draper Organizations: US, Roland, Reuters Locations: Paris, Instagram, British

☆ I ordered build-your-own bowls from Cava and Sweetgreen. Both tasted delicious, but the winner didn't charge for as many add-ons.
▼ + stars: | 2024-08-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

I visited rival salad chains Cava and Sweetgreen to get build-your-own bowls. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As of 21 April, 2024, Cava had 323 restaurants, while Sweetgreen had more than 225 as of May. It's been a tough few years for salad chains, which have traditionally relied on city-center office workers for their peak lunchtime trade. This story is available exclusively to Business Insider subscribers.

Persons: Sweetgreen, —, It's Organizations: Service, Business Locations: Cava

☆ U.S. men out of Olympic soccer competition after 4-0 defeat to Morocco
▼ + stars: | 2024-08-02 | by ( Jeff Rueter | Greg O'Keeffe | ) www.nytimes.com time to read: +8 min

This was a day to forget for the United States men’s soccer team. As seen from the graphic below, Morocco dominated the game in key statistical metrics, ending the United States’ hopes of a medal. Thus concludes the United States men’s two-tournament summer. Tanner Tessmann was at the heart of most of the United States’ positive passages. It won’t inspire many hearts and minds, but the United States did exactly that in the first half against Morocco — save for one ill-advised wag of Harriel’s leg.

Persons: Soufiane Rahimi, Ilias Akhomach, Hakimi, Mehdi Maouhoub, United States ’, Jeff Rueter, Greg O’Keeffe, Bryan Reynolds, Ricardo Pepi, Malik Tillman, Gio Reyna, Yunus Musah, Marko Mitrovic, Duncan McGuire, Walker Zimmerman, Miles Robinson, Zimmerman, Alex Gottschalk, McGuire, Griffin Yow, Mitrovic, Djordje Mihailovic, Gianluca Busio, Jack McGlynn didn’t, Maximilian Dietz, Tanner Tessmann, Patrick Schulte, Kevin Paredes, Tim Weah, Nathan Harriel …, Harriel, Paul Ellis, Rahimi, Abdessamad Ezzalzouli, Morocco’s, Morocco —, Marc Atkins, Paredes, Brad Smith, Bilal El Khannous, Greg O’Keeffe Rahimi’s, isn’t, Al, plaudit, Tarik Sektioui’s, John Todd Organizations: United, soccer, Copa America, Olympics, PSV Eindhoven, New, Philadelphia Union, Getty, Real Betis, Guinea, Morocco, Wolfsburg, Paredes ruffled, U.S, Asian Champions League, UAE Locations: United States, Morocco, Parc, States, New Zealand, Guinea, France, Ukraine, U.S, Al Ain, American

☆ Ex-Google engineers who founded Character.AI rejoin company with new AI partnership
▼ + stars: | 2024-08-02 | by ( Jennifer Elias | ) www.cnbc.com time to read: +3 min

"I am super excited to return to Google and work as part of the Google DeepMind team," Shazeer said in a statement on Friday. I am confident that the funds from the non-exclusive Google licensing agreement together with the incredible Character.AI team positions Character.AI for continued success in the future." The move also comes amid a competitive talent and AI landscape, leading companies to form partnerships against a tough regulatory landscape that has placed scrutiny on mergers and acquisitions. Britain's competition watchdog said earlier this week it is looking into Google's partnership with AI startup Anthropic, for example. In March, Microsoft hired Mustafa Suleyman, a co-founder of AI startup DeepMind that Google acquired in 2014, and much of its staff to lead AI initiatives.

Persons: Noam Shazeer, Daniel De Freitas, Character.AI, Freitas, Axios, OpenAI's ChatGPT, Shazeer, We're, Noam, Mustafa Suleyman, Suleyman, Satya Nadella Organizations: Google, Character.AI, CNBC, Microsoft Locations: Character.AI

☆ Amazon CFO blames the Olympics and Trump assassination for slowing sales: 'Customers only have so much attention'
▼ + stars: | 2024-08-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAmazon CFO Brian Olsavsky says the volatile news cycle is partly to blame for its lower than expected sales forecast for the quarter. "There's a lot of events that are occupying people's attention right now from political conventions to the election itself to the Olympics," he continued. "No matter what you're selling or providing, customers only have so much attention," Olsavsky said. In addition to issuing a weak revenue forecast, the company also said it missed sales estimates in the second quarter of 2024.

Persons: —, Brian Olsavsky, Journal's Sebastian Herrera, Olsavsky, Axios, King, Donald Trump's, hasn't, It's Organizations: Service, Business

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Amazon, Intel, Morgan Stanley, Square, Coinbase, Lululemon and more
▼ + stars: | 2024-08-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Wells Fargo downgrades Morgan Stanley to underweight from equal weight Wells Fargo downgraded Morgan Stanley and said the "upward premium re-rating seems over." Morgan Stanley initiates Lionsgate Studios at overweight Morgan Stanley said it's bullish on shares of the movie studio company. Morgan Stanley reiterates Tesla as a top pick Morgan Stanley said it's standing by the stock following an analysis of July auto sales. Morgan Stanley upgrades Mobileye to equal weight from underweight Morgan Stanley said the risk/reward is more balanced for the auto supply tech company. " Morgan Stanley reiterates Nvidia as overweight Morgan Stanley says it's sticking with its overweight rating on the AI chipmaker.

Persons: Goldman Sachs, Goldman, Morgan Stanley, Apple, Q, Gildan, Wells, downgrades Morgan Stanley, it's, TD, TD Cowen, Cowen, Raymond James downgrades Crocs, Raymond James, CROX, Oppenheimer, Tesla, Rosenblatt, Lululemon, LULU, K's Organizations: TEAM, Apple Intelligence, Barclays, Deutsche Bank, Amazon, Big Cap Tech, Stifel, Bank of American, Bank of America, Lionsgate, Lionsgate Studios, Intel, of America, TD Cowen, Dynamics, U.S, EV, 7M, UBS downgrades, UBS, Nvidia Locations: California, USA

☆ Carvana CEO learned valuable lessons from the company's 2022 bankruptcy scare: ‘You’ve got to get a little lucky’
▼ + stars: | 2024-08-02 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +1 min

Stay resilient and, when your luck turns, be ready to jump at the right opportunity, according to Carvana co-founder and CEO Ernie Garcia. Less than two years after the online used car retailer's ballooning debt and shrinking sales nearly forced the company into bankruptcy, Carvana is on the road to recovery. That's not something you imagine [when you start a business]," Garcia told CNBC's "Squawk on the Street" on Thursday morning. Carvana had been riding high during the coronavirus pandemic, when the market for used cars surged. Investor perspectives changed quite a bit in [2022] and our stock went down 99%," Garcia said on Thursday.

Persons: Carvana, Ernie Garcia, That's, Garcia, CNBC's Locations: Tempe , Arizona

☆ Amazon shares tumble 12% after third-quarter outlook disappoints
▼ + stars: | 2024-08-02 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Amazon shares plunged as much as 12% on Friday, a day after the company reported mixed second-quarter results and gave a forecast for the third quarter that fell short of Wall Street's expectations. Revenue in the second quarter rose 10% from a year earlier to $147.98 billion, falling just short of $148.56 billion projected by LSEG. For the third quarter, which runs through September, Amazon said it expects revenue of $154 billion to $158.5 billion. The midpoint of the range, $156.25 billion, fell short of consensus estimates of $158.24 billion, according to LSEG. Amazon Web Services revenue reached $26.3 billion during the quarter, topping consensus estimates of $26 billion.

Persons: Andy Jassy, Amazon, Brian Olsavsky, Olsavsky, Donald Trump, JP Morgan, Morgan Organizations: Amazon.Com Inc, Amazon, JP, Web Services, BMO Capital Markets Locations: Seattle , Washington , U.S

☆ Chase Budinger was a pro basketball player and NBA journeyman. Now he’s at the Olympics playing a different sport entirely
▼ + stars: | 2024-08-02 | by ( George Ramsay | ) edition.cnn.com time to read: +5 min

The former basketball player, who spent seven years in the NBA with four different teams, now finds himself in the shadow of the Eiffel Tower, competing at the Olympics in a different sport entirely. Budinger is a professional beach volleyball player these days, and alongside Team USA partner Miles Evans, is hoping for a deep run at the Games in Paris. Drafted by the Detroit Piston in 2009, he went on to play more than 400 NBA games with Houston Rockets, Minnesota Timberwolves, Indiana Pacers, and Phoenix Suns. A brief stint in Spain followed, after which Budinger decided to leave basketball and return to beach volleyball, making his professional debut in 2018. But he also draws on his experience of playing in the NBA when he’s out on the beach volleyball court, particularly when it comes to dealing with pressure.

Persons: Paris CNN — Chase, Miles Evans, “ It’s, it’s, ” Budinger, I’m, ”, “, Spain's Adrián Gavira, Kyle Terada, Reuters Budinger, Budinger, Evans, “ Chase, we’ve, Spain’s Pablo Herrera, Adrián Gavira Organizations: Paris CNN, NBA, Eiffel, Team USA, Games, Paris, Spain, Friday, USA, Sports, Reuters, University of Arizona, Detroit Piston, Houston Rockets, Minnesota Timberwolves, Indiana Pacers, Phoenix Suns, Olympics, NBC, France Locations: Paris, California, Spain, Netherlands

☆ Opinion | Joe Manchin Is Forcing an Agonizing Trade-Off on Climate Change
▼ + stars: | 2024-08-02 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

This week Senator Joe Manchin, independent from West Virginia, called a committee vote on a bill to speed up approval of energy projects that puts environmentalists in a tough spot. The bill boosts solar and wind by making it easier to build transmission lines to carry green power from where it’s generated to where it’s needed. But it also boosts fossil fuels by opening public lands and waters to oil and gas leasing, and makes it easier to export liquefied natural gas. The fight against climate change depends on the choices that humans make, and this vote was one of the more important choices of the year. On the other hand, from what I know of the legislation, I think I would have been a “nay.” It’s far too friendly to fossil fuels.

Persons: Joe Manchin Organizations: Republicans Locations: West Virginia

☆ Melinda French Gates' weekly walks with 3 close friends help her make difficult decisions: 'They are my truth counsel'
▼ + stars: | 2024-08-02 | by ( Alex Koller | ) www.cnbc.com time to read: +3 min

Whenever billionaire philanthropist Melinda French Gates contemplates a tough decision, she seeks input from her three closest friends of more than 30 years. "If you're in town, you walk," French Gates said. For example, the trio of friends was the first to know when French Gates began to consider ending her marriage to Bill Gates after 27 years, she said — and they offered her unanimous support. French Gates learned the importance of quality over quantity in friendships early in life, she said. "You might realize that you have plenty of people you have fun with, but no one to confide in," Schulz and Waldinger wrote.

Persons: Melinda French Gates, Oprah Winfrey, Gayle King, Gates, French Gates, Bill Gates, —, There's, Marc Schulz, Robert Waldinger, Schulz, Waldinger, " Schulz, It's Organizations: Research, Harvard University, CNBC Locations: French

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