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As soon as the weather turned around, sales "rebounded" and the holiday shopping season is off to a "strong start" so far, said Dickson. The brand has seen four straight quarters of positive comparable sales and is benefiting from better marketing and product, the company said. Banana Republic: The trendy workwear line grew sales 2% to $469 million while comparable sales fell 1%, a bit worse than the 0.8% drop that StreetAccount had expected. Athleta: The athleisure arm of Gap's empire grew sales by 4% to $290 million while comparable sales were up 5%. In the year-ago period, comparable sales were down 19% at Athleta.
Persons: Richard Dickson, Dickson, We've, he's, StreetAccount, Alo Yoga, Chris Blakeslee Organizations: Old Navy, Fulton, Hurricanes, Navy, LSEG, CNBC Locations: Downtown Brooklyn, New York City, Banana Republic, StreetAccount ., Athleta
U.S. Attorney for the Eastern District of New York, Breon Peace, speaks during a news conference in Brooklyn, New York, U.S., October 22, 2024. Former New York City police officer Jason Rodriguez pleaded guilty to conspiracy to commit wire fraud related to his role as the chief operating officer of a foreign exchange investment fund, prosecutors said in a release Thursday. Rodriguez, 38, was indicted in a Brooklyn federal court in February after he lied to investors and lost most of the $4.8 million put into his forex investment fund, Technical Trading Team. To date, approximately $3.5 million of those funds have not been paid back to the investors, according to the U.S. Attorney's Office for the Eastern District of New York. "In reality, there were no guardrails, he resigned from the NYPD in disgrace, and he lost most of the money, inflicting substantial harm on his victims."
Persons: Jason Rodriguez, Rodriguez, Breon Pace, Peace Organizations: Attorney, Eastern, of, Former New York, Attorney's Locations: of New York, Brooklyn , New York, U.S, Former New York City, Brooklyn, United States
Oil prices firm as geopolitical tensions raise supply concerns
  + stars: | 2024-11-21 | by ( ) www.cnbc.com   time to read: +2 min
A pump jack at an oil lot connected to the Petroleos del Peru SA Talara refinery in Piura, Peru, on Wednesday, Dec. 13, 2023. Oil prices edged higher on Thursday due to supply concerns triggered by escalating geopolitical tensions amid the ongoing war between Russia and Ukraine. Gasoline inventories last week rose more than forecast, while distillate stockpiles posted a larger-than-expected draw. Adding to supply, Norway's Equinor said it had restored full output capacity at the Johan Sverdrup oilfield in the North Sea following a power outage. However, a slowdown in Chinese and global demand, coupled with rising output outside the group, have potentially thwarted this plan.
Persons: Norway's Equinor, Johan Sverdrup Organizations: del, del Peru SA Talara, Brent, . West Texas, Storm, ATACMS, Energy Information Administration, Organization of, Petroleum Locations: del Peru, Piura, Peru, Russia, Ukraine, Moscow, Kyiv, OPEC
AdvertisementDell has agreed to pay $2.3 million to settle claims that it violated the False Claims Act. Dell and reseller Iron Bow overcharged the US Army for computers over four years, the DOJ said. Dell has agreed to pay $2.3 million to resolve allegations it violated the False Claims Act in its business with the US Army. Iron Bow has agreed to pay just over $2 million to settle the claims, bringing the combined settlement to $4.3 million. Iron Bow did not respond to a request for comment from Business Insider, made outside normal working hours.
Persons: Dell, Bow, Brent Lillard, Brandon Bell, Brian M, Boynton, Prim, Escalona, Donald Trump, Elon Musk, Vivek Ramaswamy, Ramaswamy Organizations: Dell, US Army, DOJ, The, Justice, Army, Army Desktop, Mobile Computing, Government, Justice Department's Civil, Northern, Northern District of, Elon, " Department of Government, Business Locations: Texas, Bow, United States, Northern District, Northern District of Alabama
CNN —A high-ranking member of a Mexican drug cartel who allegedly faked his own death and has been living in California under a fake name is now facing federal charges, the US Justice Department announced Thursday. He also allegedly kidnapped two members of the Mexican Navy as part of an attempt to release his mother-in-law, El Mencho’s wife, after her arrest by Mexican authorities. El Mencho then allegedly helped Gutierrez-Ochoa fake his death to evade Mexican law enforcement by telling his associates that he had killed Gutierrez-Ochoa for lying. The Justice Department charged El Mencho in 2022 with leading the effort to manufacture and distribute fentanyl for importation into the US. He has not been arrested, and the State Department is offering a reward of up to $10 million for information leading to his arrest and/or conviction.
Persons: Cristian Fernando Gutierrez, Ochoa, El Mencho, Gutierrez, Lisa Monaco, El Organizations: CNN, US Justice Department, Jalisco Nueva Generación, , Prosecutors, Mexican Navy, Justice Department, El, State Department Locations: Mexican, California, Jalisco, United States, Riverside, Mexico
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Gautam Adani, the billionaire chairman of India's Adani Group, was indicted on Wednesday along with seven others in New York federal court for his involvement in a large-scale bribery and fraud scheme. March 2023 to May 2023In March, India's Supreme Court sets up an independent six-member panel to investigate the allegations made in the Hindenburg report. Then in May, the court-appointed panel said it has "drawn a blank" in its probe into Adani group, according to Reuters. December 2023 to January 2024By the end of 2023, Adani Enterprise shares had recovered from the fallout and concluded the year with smaller declines of 26%. Modi has been accused by opposition leader Rahul Gandhi for assisting the Adani Group in securing contracts in Sri Lanka, India and Australia.
Persons: Gautam Adani, Hindenburg, Adani, Madhabi Puri, Narendra Modi, Modi, Rahul Gandhi Organizations: Hindenburg Research, India's, Adani, Hindenburg, Adani Enterprises, Reuters, Adani Enterprise, Bloomberg, Indian, Forbes Locations: Krakow, Poland, New York, Asia, Madhabi Puri Buch, Sri Lanka, India, Australia
That's partly due to higher inventory levels, which rose 19% in October compared to last year. Existing home sales rose 3.4% in October, the group said. Sales rose 2.9% year-over-year for the first annual rise since July 2021 when Americans were still in the midst of a pandemic homebuying boom. Despite higher inventory levels, existing home prices have continued to rise, with the median existing home price climbing 4% in October to $407,200. Last week, the 30-year fixed mortgage rate ticked lower but remained elevated at 6.78%, three basis-points higher higher than the 52-week average, according to Freddie Mac.
Persons: Lawrence Yun, Freddie Mac, Yun, Zillow Organizations: National Association of Realtors, NAR, Bank of America Locations: Real
Its drone units account for 80% of Russian losses, The New York Times reported. Ukraine's drone units now account for at least 80% of Russian frontline losses, The New York Times reported. The outlet reported that small Ukrainian drone teams had become prized targets for Russia. Ukraine's frontline drone units work in small teams, using remotely controlled first-person-view (FPV) drones to surveil and target Russian forces. In October, Ukraine exceeded its annual target of producing a million FPV drones for its military, Lieutenant General Ivan Havryliuk, Deputy Minister of Defense of Ukraine, told RBC-Ukraine.
Persons: Sgt, Maj, Vasyl, Ivan Havryliuk Organizations: New York Times, Times, Russian, Defense, RBC Locations: Russia, US, Ukraine
Rancher Jim Chilton stands at the US-Mexico border, where the wall ends, on his family’s ranch southeast of Arivaca, Arizona. Matt York/APShoes left behind by migrants on the Chiltons' ranch are displayed on their front porch in 2016. And while they want the border wall finished, they still support legal immigration. He feels his time with a vigilante group called Arizona Border Recon is his opportunity to give back to the country that welcomed him. Tim Foley leads a vigilante group called Arizona Border Recon.
Persons: Sue Chilton’s, Obama, they’ve, Donald Trump’s, Jim Chilton, Norma Galeana, Joe Biden, Sue Chilton, , Biden, that’s, Matt York, Frederic J . Brown, Jim, ” Jim, Tom Homan, Greg Abbott, , Elon Musk, ” Sue, Will Lanzoni, Hugo, anybody’s, Tim Foley, CNN Foley, Trump, I’ve, Cochise County Sheriff Mark Dannels, Dannels, “ We’ve, CNN Dannels, Foley, Sheriff Dannels, it’s, Brandon Bell, It’s, Rafael, ” Rafael Organizations: Arizona CNN, Border Patrol, CNN, US Border Patrol, Getty, Trump, Republican National Convention, Texas Gov, Arizona, National Guard, Cochise County Sheriff, gotaways, West Locations: Nogales, Arizona, camo, Mexico, Arivaca , Arizona, United States, Sasabe , Arizona, AFP, Uruguayan, Greenwich , Connecticut, Cochise County, Chilton, Sheriff, It’s, Nogales , Arizona
A dronemaking startup whose equipment is being used by the Ukrainian military got a cash injection from NATO. AdvertisementThe company has said its equipment is being used in Ukraine though not which of its models were sent. Drones are used for surveillance, to carry light supplies, for targeting assistance, and as weapons. AdvertisementThe battlefield features drones from around the world, spanning cheap consumer drones, high-end military hardware, and improvised systems. A new £60 million package of military support from the UK-administered International Fund for Ukraine will provide advanced new surveillance drones to support 🇺🇦's Armed Forces.
Persons: Ukraine —, tim e Organizations: NATO, NATO's Innovation, UK Ministry of Defence, Fund Locations: Ukraine, Ukrainian, Portuguese
In my inaugural CNBC Sport newsletter , I said the major American sports leagues have their media rights deals locked up for years to come. The NHL's Canadian media rights deal will end after next season. The company has said it intends to bid again for the Canadian media rights. In my inaugural CNBC Sport newsletter, I said the major American sports leagues have their media rights deals locked up for years to come. The NHL's Canadian media rights deal will end after next season.
Persons: Alex Sherman, Rogers, Gary Bettman, Amazon's, James Gay, Rees, Paul Martin –, Wayne Gretzky, Amanda Serrano, Nakisa Bidarian, Jake Paul, Mike Tyson, Katie Taylor, Taylor, Serrano, Tyson, Paul –, Amanda, Katie, Mike, Jake, Bidarian, Amanda's, hasn't, I'm, CNBC's Jake Piazza, Lillian Rizzo, Tiger Woods, Rory Mclroy, Mike McCarley, Steve Cohen's, Eli Manning, Derek Jeter, Michael Strahan, John McEnroe, Jimmy Fallon, Rickie Fowler, Xander Schauffele, Matt Fitzpatrick, Cameron Young, CNBC's Jess Golden, Dan Gilbert, Turner, John Tesh, LeBron James, Maverick Carter, Fulwell, Ben Winston, They'll, Peacock, CNBC's Dominic Chu, Mollie Marcoux Samaan, Marvel Entertainment Rob Steffens, Wanda Diamond, LOVB, LOVB Pro's, Michele Kang, Kang, Rob Manfred, That's, Manfred, Tomas Hertl, Thatcher Demko, Derek Cain Organizations: CNBC, CNBC Sport, Rogers Communications, NHL, National Basketball Association, National Football League, Rogers, Amazon Prime, Netflix, NFL, Amazon, Buffalo Bills, Kansas City Chiefs, CBS, Patriots, Sports Business, Golf Channel, Mike McCarley . New York Mets, Private Ventures, New, New York, WNBA, NBA's Cleveland Cavaliers, NBA, Warner Bros, Discovery, Turner Sports, U.S, ESPN, ABC, NBC, NBC Sports, SpringHill, Comcast, USA, English Premier League, NASCAR, WWE, Olympics, Marvel Entertainment, American Hockey League, Wanda Diamond League, Atwater Capital, U.S . Soccer, MLB, The Athletic, Professional Fighters League, Dubai Department of Economy, Tourism, Dubai Sports Council, PFL, San Jose Sharks, Vancouver Canucks, Rogers Arena, Sports, Reuters Locations: , Canada, Canadian, U.S, Amazon, Europe, Salt Lake City , Utah, Mike McCarley ., Cleveland, Northeast Ohio, Atlanta , Austin, Houston, Madison, Omaha, Salt, Dubai
The International Criminal Court’s arrest warrants for two Israeli leaders say that there are grounds to believe they bear “criminal responsibility” for the devastating humanitarian crisis in Gaza, according to a statement released by the court on Thursday. Most of Gaza’s over two million people are still displaced — many living in tents — and finding enough food and clean water is often a daily struggle. Israeli officials, who ordered the invasion of Gaza after the Hamas-led Oct. 7 attacks, say their aim is to eradicate the armed group. The court said some Gazans had died from deprivation in part imposed by Israeli restrictions on the flow of aid, providing legal grounds for suspected murder. The judges also argued that restrictions on food and medicine to Gazans as a whole could amount to the crime of persecution under international law.
Persons: , Benjamin Netanyahu, Yoav Gallant, Mr, Netanyahu’s, , Gazans Locations: Gaza, Palestinian
“People are afraid of walking the streets right now; there’s a lot of fear … a lot of fear,” Sanchez said. “Shrinking worker (supply) in a period in which those sectors need more workers and are having a hard time finding workers will clearly generate a slowdown,” Peri said. Although temporary farm visas — known as H-2A — do exist, there is no legal way to have year-round foreign workers. “We know [undocumented immigrants] are working, they’re not sitting at home,” he said. “The slowing in immigration that’s broadly anticipated will probably show up in tighter labor markets for lower-skilled workers,” he said in an interview.
Persons: Donald Trump’s, Sam Sanchez, , Sanchez, ” Sanchez, Giovanni Peri, Peri, Ron Estrada, , ” Estrada, farmworkers, Joe Sohm, Farmworker Justice’s Estrada, Carolinians, they’re, “ They’ve, Biden, Trump, Michael Feroli, Julia Pollak, Scott Olson, it’s, Joe Brusuelas, ” Karoline Leavitt, Vance, Joanne Eriaku, Eriaku, she’s Organizations: CNN, Chicago, Coast Hospitality Group, , Global Migration, University of California, Davis, UCDavis, Migration Center . Business, Biden, Farmworker, North Carolina Growers Association, Congressional, CBO, JPMorgan, Republican National Convention, RSM, Trump, United Nations, UN, Social Locations: America, Mexico, Little, San Francisco, Chicago, , Milwaukee, Chicago’s Little, Springfield , Ohio, New York City, Uganda, Eriaku, Kenya, United States
AdvertisementIt used to be that leaving Fox News or other big media outlets was the end of your career. Ask two former Fox hosts, Tucker Carlson and Megyn Kelly, or Bari Weiss, an ex-New York Times editor. People like the former Fox News stars Tucker Carlson and Megyn Kelly, and the former New York Times writer and editor Bari Weiss. At the time, it seemed like we would see more people doing what he did — leaving mainstream media, going to digital, and building an audience there. Unless you're Tucker Carlson.
Persons: Tucker Carlson, Megyn Kelly, Bari Weiss, Chris Balfe, we've, Glenn Beck, TheBlaze, Carlson, Kelly, Weiss, Balfe, Beck, Donald Trump, he's, Fox —, Mike Tyson, Jake Paul, we're, Tucker, Joe Rogan, , He's, Vladimir Putin, Tucker Carlson's, They're, They've, it's Organizations: Fox News, Fox, New York Times, Red, Big Media, Glenn Beck Fox, YouTube, Facebook Locations: TheBlaze, Fox
After an election where podcasts and influencers played an outsize role, conservatives were quick to declare that traditional media was dead. Turns out a lot of it is just moving into the West Wing. President-elect Donald J. Trump, whose rise was fueled by reality TV stardom, is once again turning to television to recruit the key cast members of his new administration. The latest was Dr. Mehmet Oz, the former syndicated TV host, who was picked by Mr. Trump on Tuesday to oversee Medicare and Medicaid. (His wife, Rachel Campos-Duffy, is Mr. Hegseth’s erstwhile “Fox & Friends” co-host.)
Persons: influencers, Donald J, Trump, Mehmet Oz, Pete Hegseth, , , Sean Duffy, Rachel Campos, Duffy, Hegseth’s, Friends ” Organizations: Wing, Mr, “ Fox, Fox Business, Transportation Department, Friends
AdvertisementHundreds of Los Angeles Community College District students are getting $1,000 monthly for a year. It's part of a basic income program for LA students pursuing healthcare careers. Some community college students in Los Angeles are about to get an influx of no-strings-attached payments — just in time for the holidays. The Los Angeles Community College District is disbursing $3 million in monthly basic income payments to 250 students pursuing health careers. The city's Basic Income Guaranteed: Los Angeles Economic Assistance Pilot, or BIG:LEAP, gave over 3,200 households $1,000 in monthly no-strings-attached cash payments for a year.
Persons: Gerun Riley, Eli Organizations: Los Angeles Community College District, LA, Edythe, Los, Economic Locations: Angeles, Los Angeles
Bluesky CEO Jay Graber says X rival is 'billionaire proof'
  + stars: | 2024-11-21 | by ( Jonathan Vanian | In | ) www.cnbc.com   time to read: +3 min
But CEO Jay Graber has some cautionary words for potential acquirers: Bluesky is "billionaire proof." Graber was referring to the way millions of users left Twitter, now X, after Elon Musk purchased the company in 2022. Bluesky now has over of 21 million users, still dwarfed by X and Threads, which Facebook's parent debuted in July 2023. Threads has roughly 275 million monthly users, Meta CEO Mark Zuckerberg said in October. Although Musk said in May that X has 600 million monthly users, market intelligence firm Sensor Tower estimates 318 million monthly users as of October.
Persons: Bluesky, Elon Musk's, Jay Graber, CNBC's, Graber, Elon Musk, Meta didn't, Mark Zuckerberg, Musk, Jack Dorsey's, Dorsey, Jack, we're, we've, that's, Nobody's, algorithmically, We're, That's, Trump Organizations: Twitter, Elon, Meta, Blockchain Capital Locations: Brazil
Initially enthusiastic about the prospect of humans living on Mars, the authors said their research turned them into space settlement skeptics. In "A City on Mars," authors Kelly and Zach Weinersmith argue substantially more research is needed before humans can safely populate Mars. Particular BooksCNN: Can humans settle Mars in the near term? KW: Musk is saying that in the next 30 years, we’re going to have a million people on Mars. It’s about 40% gravity and we know that humans in microgravity have all sorts of major problems, and what happens at 40% we just don’t know.
Persons: Elon, Kelly, Zach Weinersmith, , Kelly Weinersmith, it’s, we’ll, you’ve, You’re Organizations: CNN, Society Trivedi, Rice University, NASA, JPL, Caltech, facie, Earth, United Nations Locations: , Houston, Mars, United States, China
AdvertisementThere's been a $30 million offer on Sean Combs' Los Angeles mansion. The lowball offer comes from the same real estate investor who purchased Kanye West's Malibu house. AdvertisementThe mansion is in one of Los Angeles' richest neighborhoods, known for its proximity to Beverly Hills and large lots. Luxury real estate in Los Angeles is currently experiencing a major slump, Beverly Hills agent Rochelle Atlas Maize told BI. Maize, who was personally shopping for homes in Los Angeles at the time, said she wouldn't step foot near it.
Persons: Sean Combs, Sean, Diddy, Combs, Bo Belmont, Shou Zi Chew, Belmont, Rochelle Atlas, Belwood, starchitect Tadao Ando, Menendez, Ryan Murphy's, it's, It's Organizations: feds, Kanye, Belwood Investments, Business, Beverly, Rochelle Atlas Maize, Ryan Murphy's Netflix Locations: Los Angeles, Los, Singapore, Beverly Hills, Rochelle, Malibu, Beverly Flats
Most Americans are concerned about what may happen to Social Security when its retirement trust fund crosses a projected 2033 depletion date, according to a new Bankrate survey. Nearly three-quarters, 73%, of non-retired adults and 71% retired adults say they worry they won't receive their benefits if the trust fund runs out. That includes 81% of working baby boomers and 82% of Gen Xers who are worried they may not receive their benefits at retirement age if the trust fund is depleted. Social Security relies on trust funds to supplement its monthly benefit payments that currently reach more than 72.5 million beneficiaries, including Supplemental Security Income beneficiaries. Social Security's actuaries project the fund the program relies on to pay retirement benefits will be depleted in 2033.
Persons: Gen Xers, someone's, Mark Hamrick, Trump, Zers Organizations: Security, Bankrate, Finance, Social, actuaries Locations: millennials
If you're looking for a career that pays well, doesn't require a bachelor's degree and offers strong job security, you might want to consider a job in the skilled trades. Close to a third (35%) of the fastest-growing jobs in the U.S. are in the skilled trades, with more than 1.5 million new jobs expected between now and 2032, according to the latest numbers from the Bureau of Labor Statistics. "As people continue to search for higher-paying jobs with low barriers to entry, blue-collar jobs have had a resurgence in interest — especially among Gen Z," he added. Though many blue-collar jobs don't require a four-year degree, most roles require certifications, licensing and, in some cases, extensive on-the-job training. Here are five in-demand jobs in the skilled trades that pay over $100,000 and don't require a bachelor's degree, according to data from Resume Genius and the Bureau of Labor Statistics:
Persons: Nathan Soto, Gen Organizations: McKinsey & Co, Labor, Bureau of Labor Statistics, CNBC Locations: U.S
AdvertisementNational Geographic spotlighted the top 20 Pictures of the Year in its December 2024 issue. Photo editors at the magazine chose the top 20 photos from a selection of 2.3 million images. Every year, photographers at National Geographic travel around the world to share stories through their lenses. Then, at the end of the year, the magazine's photo editors select "the most stunning photos" taken by its photographers for its annual Pictures of the Year issue. AdvertisementThis year, 20 pictures were selected from a pool of 2.3 million photographs.
Organizations: National Geographic
And those most likely to be left behind are workers without four-year college degrees. Yet one in five workers with only a high school diploma defied the odds, according to a new study by Burning Glass Institute, an independent nonprofit research center. Those workers earned more than $70,000 a year — above the median income of college graduates — by the age of 40. The researchers identified 73 such promising starter jobs, including bank teller, pharmacy aide and restaurant host. The new report adds to a growing body of evidence that routes to upward mobility in America exist for the 60 percent of the nation’s labor force without a four-year college degree.
Organizations: Burning Glass Institute, Locations: America
SailGP has signed Rolex as the first title partner of its global sailing competition. The self-described Formula 1 of sailing has signed Rolex as the first title partner of its elite sailboat racing competition. SailGP's series of events, which kicks off its 2025 season in Dubai on Saturday, will now be known as the "Rolex SailGP Championship." "Leading into our fifth season, SailGP is celebrating a period of remarkable growth," said league CEO Russell Coutts. SailGP's global championship features a dozen national teams from the U.S., Italy, Germany and others battling in identical high-tech, high-speed 50-foot foiling catamarans.
Persons: SailGP, Russell Coutts Organizations: Rolex Locations: Dubai, Swiss, U.S, Italy, Germany
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