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A failed crop, followed by a wave of financial speculation, put cocoa prices on a roller coaster this year, rattling an industry reliant on inexpensive crops and labor. For much of the past decade, the price of cocoa in one key global benchmark hovered around $2,500 per metric ton. They pushed the price above $6,000 a ton in February, $9,000 a ton in March and $11,000 a ton in mid-April. Since then, the price has swung wildly, falling nearly 30 percent in just two weeks before bouncing up again. Large food companies have been raising prices and warning that they’ll have to continue to do so if cocoa doesn’t stabilize.
Persons: they’ve Locations: West Africa
Warning: Spoilers ahead for "The Fall Guy." But by the end of the movie, director David Leitch blesses us with one more big-name star: Jason Momoa. "The Fall Guy" is set around the production of a big-budget sci-fi epic titled "Metalstorm," which stars Aaron Taylor-Johnson's character, Tom Ryder, and is directed by Emily Blunt's character, Jody Moreno. AdvertisementRyan Gosling and Emily Blunt in "The Fall Guy." "The Fall Guy" is in theaters now.
Persons: Guy, David Leitch, , Ryan Gosling, Emily Blunt, Hannah Waddingham, Winston Duke, Stephanie Hsu, Aaron Taylor, Johnson, Jason Momoa, Tom Ryder, Emily Blunt's, Jody Moreno, Ryan Gosling's, Colt Seavers, Ryder, Moreno, Leitch's, Jason, Conan, Leitch, " Leitch, Momoa, Brad Pitt, Hobbs, Shaw, Kevin Hart, Channing Tatum, Ryan Reynolds Organizations: Service, Universal Sporting Locations: Australia, New Zealand
Just as Wall Street appeared to come to terms with the idea of high interest rates sticking around for longer, a cooler-than-expected jobs report on Friday brought the idea of rate cuts back into the conversation. The Labor Department reported that job and wage growth in April came in lower than economists had expected, a shift after months of piping-hot labor market reports. The findings rekindled hopes that the Federal Reserve — which has been looking for signs that interest rates are slowing the economy — may yet cut rates before the end of the year. “This is the jobs report the Fed would have scripted,” said Seema Shah, chief global strategist at Principal Asset Management. The S&P 500 rose 1.3 percent on Friday, its best day in more than two months.
Persons: , Seema Shah, Russell Organizations: Labor Department, Federal, Asset Management
Their latest film, "The Fall Guy," looks to continue that streak of success. 'The Fall Guy' evolved from film noir to action rom-comRyan Gosling plays stuntman Colt Seavers in "The Fall Guy." Eric Laciste/Universal Pictures"The Fall Guy" movie adaptation had been bouncing around Hollywood for decades, with everyone from Nicolas Cage to Dwayne "The Rock" Johnson attached to star. AdvertisementIn "The Fall Guy," Gosling's Colt must clear his name after footage appears to implicate him in the death of another stuntman. AdvertisementThe Taylor Swift song "All Too Well" wasn't originally in the movieRyan Gosling and Emily Blunt in "The Fall Guy."
Persons: , David Leitch, Kelly McCormick, they've, Shaw, Guy, it's, Lee Majors, Colt Seavers, Ryan Gosling, Jody Moreno, Emily Blunt, Leitch, McCormick, who's, Brad Pitt, McCormack, Gosling, Blunt's, Eric Laciste, Nicolas Cage, Dwayne, Johnson, David, Blunt, Jody, Emily, " Leitch, Ryan, Leitch David Leitch, Kiss, Yungblud, I'm, Tom Cruise's, Taylor, Colt, Harry Nilsson's, Taylor's Organizations: Service, Business, Pictures, Universal, Colt, deepfakes, Hollywood Locations: Hollywood
Peloton said on Thursday that its chief executive, Barry McCarthy, was stepping down and it would lay off more workers, as it continued to struggle in the fitness market. The connected-fitness company announced disappointing quarterly earnings on Thursday, with revenue down 4 percent from last year. The company, which has not turned a profit since December 2020, is also looking to refinance more than $1 billion in debt. Peloton had a spectacular rise at the start of the pandemic, when gyms and fitness centers closed and consumers were hungry for at-home workout options. But after gyms reopened, Peloton began to face stiffer competition from companies like Bowflex and Lululemon.
Persons: Barry McCarthy, Kevin Dietsch Organizations: Spotify, Netflix
Johnson & Johnson said on Wednesday that it would ask tens of thousands of people suing the company over claims that its talcum powder products caused their cancer to approve a new $6.5 billion settlement, its third attempt to resolve the lawsuits. The proposal would settle nearly all current and future claims that its talcum powder products caused ovarian cancer, the company said. Judges have rejected the two previous attempts, on the grounds that bankruptcy court isn’t the right venue for them. Representatives for Johnson & Johnson declined to comment beyond its announcement. The company has long denied those claims, but has in recent years stopped selling talc-based baby powder worldwide.
Persons: Johnson, Organizations: Johnson
Rita Moreno, 92, says her daughter helps her cope with the difficulties of aging. Moreno told People she needs her daughter's wisdom "more often than you might think." AdvertisementRita Moreno, 92, says aging has brought her closer to her daughter. "I'm constantly calling upon her to do things," Moreno told People. "I have a problem with remembering names, names of things, and names of people.
Persons: Rita Moreno, Moreno, , Fernanda Luisa Gordon, Leonard Gordon, I'm Organizations: Urban Institute, Service, Business
Julian Assange leaves a Melbourne court after facing charges of computer hacking in 1995. WikiLeaks/ReutersUnder a global spotlightAs WikiLeaks continued its disclosures, Assange found himself the latest cause célèbre – his every movement intensely scrutinized. … He liked the fuss that (the disclosures) caused but he was oddly incurious actually about the documents.”Others offer alternative explanations for Assange’s eccentricities. There were mounting calls for Assange to leave WikiLeaks and, when he didn’t, many cut ties with it. Outside the confines of his diplomatic shelter, the world questioned whether Assange was trying to circumvent justice.
Persons: London CNN — Julian Assange, , He’s, Chelsea Manning, Joe Biden, Assange’s, Anthony Albanese, Assange, , ” –, Julian Assange, Ian Kenins, Sarah Palin’s, Atika Shubert, Shubert, ” Shubert, célèbre, Fidel Narvaez, “ Assange, ” Narvaez, James Ball, Joe Raedle, ” Ball, Ball, , Narvaez, Hans Crescent, Lenin Moreno, Moreno, Abu Hamza al, Masri, Stella Assange, Daniel Leal, Stella, “ I’m, Nick Vamos, It’s, Alice Jill Edwards, Agnès Callamard, El País, Der Spiegel, Jameel Jaffer, Xiaofei Xu, Alex Stambaugh Organizations: London CNN, WikiLeaks, Court, Ecuadorian, Army, Australian, Pentagon, NASA, University of Melbourne, Fairfax Media, of Scientology, Republican, CNN, Chelsea, Apache, Reuters, Guardian, Ellingham, Hans, London’s Metropolitan Police, US Justice Department, of Justice, Britain's, Getty, Peters & Peters, Prosecution Service, Human Rights, UN, Amnesty, The New York Times, Columbia University Locations: United States, Australian, London’s, Australia, Townsville, Queensland, cybercrime, Melbourne, Guantanamo Bay, Cuba, Iraq, London, Afghanistan, , Sweden, Ecuador, UK’s, Belmarsh
The federal government’s main auto safety agency said on Friday that it was investigating Tesla’s recall of its Autopilot driver-assistance system because regulators were concerned that the company had not done enough to ensure that drivers remained attentive while using the technology. The National Highway Traffic Safety Administration said in documents posted on its website that it was looking into Tesla’s recall in December of two million vehicles, which covered nearly all of the cars the company had manufactured in the United States since 2012. The safety agency said that it had concerns about crashes that took place after the recall and results from preliminary tests of recalled vehicles. The investigation adds to a list of headaches for Tesla, the dominant electric vehicle maker in the United States. Tesla announced in December that it would recall its autopilot software after an investigation by the auto safety agency found that the carmaker hadn’t put in place enough safeguards to make sure the system, which can accelerate, brake and control cars in other ways, was used safely by drivers who were supposed to be ready at any moment to retake control of their cars using Autopilot.
Persons: Tesla, hadn’t Organizations: Traffic Safety Administration Locations: United States
Southwest Airlines is ceasing operations at four airports, and reducing flights from others, in an effort to cut costs after its growth plans were curtailed by fewer than expected plane deliveries from Boeing. The airline, which flies only Boeing 737 planes, said on Thursday that delays from the embattled aircraft manufacturer were behind its struggles. Southwest reported a loss of $231 million for the first quarter, worse than analysts expected, sending its share price down 10 percent in early trading. To cut costs because of its curtailed growth plans, Southwest said it would cease operations at four airports from early August: Bellingham International Airport in Washington State, Cozumel International Airport, George Bush Intercontinental Airport in Houston, and Syracuse Hancock International Airport. It would also “significantly restructure” its flights from other airports, most notably by reducing flights at Hartsfield-Jackson Atlanta International Airport and Chicago O’Hare International Airport.
Persons: George Bush Organizations: Airlines, Boeing, Bellingham International Airport, Cozumel International Airport, George, George Bush Intercontinental Airport, Syracuse Hancock International, Hartsfield, Jackson Atlanta International Airport, Chicago O’Hare International, Max, Alaska Airlines Locations: Bellingham, Washington State, Cozumel, Houston
The lawsuit, filed in a U.S. District Court in Texas, argued that the F.T.C. The Chamber of Commerce was joined by three other business groups: the Business Roundtable, the Texas Association of Business and the Longview Chamber of Commerce. announced a final rule to ban the noncompete agreements. The rule was approved in a 3-to-2 vote, with both Republican commissioners voting against the measure. The Chamber of Commerce vowed to challenge the rule shortly after the vote.
Organizations: U.S . Chamber, Commerce, Federal Trade Commission, Business, Texas Association of Business, Longview Chamber of Commerce Locations: U.S, Texas, Longview
The Federal Trade Commission on Tuesday banned employers from limiting their workers’ abilities to work for rivals, a sweeping change that the agency says could help raise wages and increase competition among businesses. The move bars contracts known as noncompetes, which prevent workers from leaving for a competitor for a certain amount of time, in most circumstances. The agency has said the proposal would raise wages by forcing companies to compete harder for talent. The proposal was approved by the agency in a 3-to-2 vote. She estimated the decision would lead to 8,500 new start-ups created in a year.
Persons: Melissa Holyoak, Andrew N, Ferguson, , Lina M, Khan Organizations: Federal Trade Commission
The Supreme Court is set to hear Starbucks’s challenge on Tuesday to a federal judge’s order to reinstate workers who were attempting to unionize a store in Memphis. Starbucks is asking the court to make it harder for the National Labor Relations Board to obtain intervention by judges in cases where a company is accused of violating labor law. Starbucks, which has faced hundreds of accusations of labor law violations across the country, argues that there is a patchwork of standards under which the N.L.R.B. The appellate court in this case, the U.S. Court of Appeals for the Sixth Circuit, applies a lower standard, and Starbucks is pushing the Supreme Court to apply a more strict, uniform standard that is in line with other circuits. Starbucks Workers United, the union representing the company’s workers, filed an unfair labor practice charge over the firings, arguing that the company selectively enforced the rules against organized workers.
Organizations: National Labor Relations Board, Starbucks, U.S ., Appeals, Sixth, Starbucks Workers United Locations: Memphis
Tesla Will Recall Cybertruck in Latest Setback
  + stars: | 2024-04-19 | by ( J. Edward Moreno | ) www.nytimes.com   time to read: +1 min
Tesla has agreed to recall nearly 4,000 of its Cybertruck pickups to fix an accelerator pedal that can get stuck, raising the risk of crashes, a federal safety agency said on Friday. The defect could cause the vehicle to accelerate unintentionally, the National Highway Traffic Safety Administration said in a notice posted on its website. Tesla started selling the Cybertruck, its first pickup truck, in November after many delays. The recall is yet another setback for Tesla, the largest electric vehicle manufacturer in the United States. Tesla’s recent troubles have unnerved investors, and the company’s stock has fallen roughly 40 percent so far this year.
Persons: Tesla Organizations: Traffic Safety Administration Locations: United States
A man who impersonated a priest and called himself Father Martin to steal from churches around the United States was arrested in California this month, the authorities in Riverside County said. The man, Malin Rostas, 45, of New York, was taken into custody on April 10 after sheriff’s deputies found a vehicle matching the description of one associated with the burglaries, according to the county sheriff in Riverside, Calif.Mr. Rostas, the driver of the black sedan, was arrested. Investigators determined that he was the man posing as Father Martin and that he had tried to steal from a church in Moreno Valley, a city about 60 miles east of Los Angeles, the sheriff’s office said. Mr. Rostas was booked at the Robert Presley Detention Center in Riverside on an outstanding burglary warrant from Pennsylvania. Additional charges were expected to be filed for the attempted church burglary in Moreno Valley, the authorities said.
Persons: Father Martin, Malin Rostas, Rostas Organizations: Mr, Robert Presley Detention Locations: United States, California, Riverside County, New York, Riverside , Calif, Moreno Valley, Los Angeles, Riverside, Pennsylvania
Mortgage rates rose above 7 percent for the first time this year, crossing a symbolically concerning threshold that threatens to keep millions of potential home buyers and sellers on the sidelines of a U.S. housing market that is increasingly showing signs of slowing. Mortgage rates reached a recent high of nearly 8 percent late last year — a level not seen since 2000. As mortgage rates have risen in recent months, making homeownership costlier for buyers, potential sellers who may feel locked into lower rates on their existing loans have been keeping their houses off the market, in effect pushing prices higher, too. “Potential home buyers are deciding whether to buy before rates rise even more, or hold off in hopes of decreases later in the year,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “It remains unclear how many home buyers can withstand increasing rates in the future.”
Persons: Freddie Mac, ” Sam Khater, Freddie Mac’s, Locations: U.S, United States
As sales of Teslas drop and demand for electric vehicles cools — even as more models enter the market — an increasing number of automakers are competing for a slice of a shrinking pie. Nearly 269,000 electric vehicles were sold in the United States in the first three months of this year, according to Kelley Blue Book. And amid the quarter-to-quarter slowdown in the industry, Tesla’s market share has fallen from 62 percent at the start of 2023 to 51 percent now. Elon Musk told employees on Monday that Tesla would cut 10 percent of its work force. Investors, in turn, have been spooked: Tesla’s stock price has dropped over 30 percent this year, erasing billions of dollars in market capitalization.
Persons: Kelley, Elon Musk, Tesla Locations: United States
Norfolk Southern announced on Tuesday that it agreed to pay $600 million to settle a class-action lawsuit stemming from a February 2023 derailment of a train carrying hazardous materials in East Palestine, Ohio. The settlement, which must be approved by U.S. District Judge Benita Y. Pearson, includes payments to residents and businesses within 20 miles of the derailment. It also resolves personal injury claims within a 10-mile radius of the derailment. “Individuals and businesses will be able to use compensation from the settlement in any manner they see fit to address potential adverse impacts from the derailment,” Norfolk Southern said in a statement. “This could include health care needs and medical monitoring, property restoration and diminution, and compensation for any net business loss.”The lawyers representing the victims said the settlement was “a fair, reasonable and adequate result for the community on a number of levels,” including the speed in which the resolution was reached and how much money residents and businesses would receive.
Persons: Benita Y, Pearson Organizations: Norfolk Southern, U.S, District Locations: East Palestine , Ohio
A vast swath of North America will soon be plunged into darkness. Though momentary, the total solar eclipse on Monday has already proved lucrative. Across the United States, Mexico and Canada, towns and villages have been planning what could be the biggest tourist attraction for many small cities. “We don’t usually have this kind of tourism — it’s not common,” said Edgar Augusto González-Zatarain, the mayor of Mazatlán, Mexico. In Oklahoma, the Choctaw Nation had seen a 200 percent increase as of mid-March in reservations at its resorts and casinos.
Persons: , Edgar Augusto González, Hertz, Airbnb Organizations: Choctaw Nation Locations: North America, United States, Mexico, Canada, Mazatlán, Montreal, Oklahoma
The most important driver in second quarter for bitcoin and crypto, however, could be the Federal Reserve decision on interest rate cuts. Traders are now pricing in a roughly 61% chance of a first Fed rate cut taking place in June, according to the CME FedWatch Tool . Demand has increased from 40,000 bitcoin at the start of the year to 213,000 bitcoin currently, largely driven by ETF buying ahead of the late April Bitcoin halving, according to CryptoQuant. However, the SEC's decision on whether or not to allow spot ether ETFs to trade, due in May, will "very likely" be market moving, he added. "If it's not priced in today, then it very likely will be a market moving event if it happens," he said.
Persons: Bitcoin, Zach Pandl, Pandl, , bitcoin, Julio Moreno, Chris Kuiper, — CNBC's Ganesh Rao Organizations: Securities and Exchange Commission, Federal, Metrics, Fidelity Digital Assets, CNBC, Fidelity, SEC Locations: U.S, BlackRock
Polar ice melt driven by climate change is affecting Earth's rotation, according to new research. A human-driven change in the Earth's rotation has never been seen before, and may affect computing. DrPixel/Getty ImagesDon't worry — this change in Earth's rotation won't be catastrophic. Denis Tangney Jr./Getty ImagesAs a result, scientists predict that we would need the first-ever negative leap second by 2026. iStock / Getty Images PlusThere are three main mechanisms that control the Earth's spin:One is tidal friction, or the interaction between moving ocean water and the ocean floor, which slows Earth's rotation.
Persons: Duncan Agnew, what's, Denis Tangney Jr, Felicitas Arias, Judah Levine, Agnew, Andres Forza, you've Organizations: Service, Scripps Institution of Oceanography, International Bureau, Time Department, National Institute of Standards, Technology, Washington Post, Northern, Reuters, CNN Locations: Wellesley , Massachusetts, Needham, Northern Canada, Scandinavia, Argentina
Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange who was convicted of stealing billions of dollars from customers, was sentenced to 25 years in prison on Thursday, capping an extraordinary saga that upended the crypto industry and became a cautionary tale of greed and hubris. Mr. Bankman-Fried, 32, did not visibly react as Judge Lewis A. Kaplan handed down the sentence in Federal District Court in Manhattan. His parents, the law professors Joe Bankman and Barbara Fried, sat two rows from the front, staring at the floor. He knew it was criminal,” Judge Kaplan said of Mr. Bankman-Fried’s actions. Before the sentence was delivered, Mr. Bankman-Fried, cleanshaven and wearing a loosefitting brown jail uniform, apologized to FTX’s customers, investors and employees.
Persons: Sam Bankman, Bankman, Lewis A, Kaplan, Joe Bankman, Barbara Fried, ” Judge Kaplan Organizations: Court Locations: Manhattan
The Walt Disney Company and Gov. Ron DeSantis of Florida have reached a settlement over control of a special tax district that includes the Disney World theme park in Orlando, the company said on Wednesday. “We are pleased to put an end to all litigation pending in state court in Florida,” Jeff Vahle, president of Walt Disney World, said in a statement. Disney and Mr. DeSantis have been fighting for two years over Disney World, the 25,000-acre theme park and resort complex south of Orlando and one of the state’s largest employers. In response to Disney’s criticism of a Florida education law that opponents called “Don’t Say Gay,” Mr. DeSantis took over the tax district, appointing a new board and ending the company’s long-held ability to self-govern Disney World as if it were a county.
Persons: Ron DeSantis, , ” Jeff Vahle, DeSantis, ” Mr Organizations: Walt Disney Company, Gov, Disney, Walt Disney Locations: Florida, Orlando
Read previewBernie Moreno, the GOP nominee for US Senate in Ohio, has long staked his political identity on the car dealership empire he once oversaw. Related storiesBut Moreno benefited from Mercedes-Benz's push for diversity in more ways than one. "They wanted a minority operator there," Moreno said during the 2014 hearing, according to a transcript obtained by Business Insider. Despite Moreno acknowledging that he benefited from Mercedes-Benz considering diversity when deciding who could buy the dealership, he maintains that he is opposed to affirmative action programs. Moreno is set to face incumbent Democratic Sen. Sherrod Brown of Ohio in a race that could determine which party controls the Senate.
Persons: , Bernie Moreno, Moreno, Roger Penske, Mercedes, Reagan McCarthy, Bernie, McCarthy, Democratic Sen, Sherrod Brown of, Brown, Donald Trump Organizations: Service, GOP, US, Business, Republicans, Penske Corporation, Benz, Penske, YWCA Greater, Mercedes, Penske Automotive Group, Democratic Locations: Ohio, Colombia, United States, Boston, North Olmsted , Ohio, Arizona —, YWCA Greater Cleveland, Florida, Chandler , Arizona, Sherrod Brown of Ohio, Massachusetts
CNN —There was an interesting and telling exchange recently between Sen. Lisa Murkowski, the Alaska Republican, and CNN’s Manu Raju. In the hallway exchange, Murkowski expressed frustration that former President Donald Trump is her party’s presidential nominee. CNNWhen Raju pushed Murkowski about whether she might leave the Republican Party, she said this: “I am navigating my way through some very interesting political times. Moreno won the Republican nomination in last week’s primary and he did so by aligning himself with Trump. Gallagher follows Rep. Ken Buck, the hardline Colorado Republican who resigned early in frustration over Republican election denialism and because House lawmakers are unable to set aside differences to get much done.
Persons: Sen, Lisa Murkowski, CNN’s Manu Raju, Murkowski, Donald Trump, , , Raju, ’ Murkowski, Trump, ” Sen, Raju, Let’s, Bernie Moreno, Moreno, “ We’ve, Mitch McConnell, McConnell, it’s, Kyrsten, Joe Manchin, Kyrsten Sinema, Sinema, Manchin, Jon Tester, Sherrod Brown, CNN RAJU, Mitt Romney, Joe Biden –, Rob Portman, Lamar Alexander, Bob Corker, Mitch McConnell’s, Mike Gallagher, Alejandro Mayorkas, Gallagher, Ken Buck, CNN’s Dana Bash, he’d Organizations: CNN, Alaska Republican, Capitol, Republican Party, Trump, Republican, Capitol Hill, GOP, Republicans, Kentucky Republican, Democratic, Senate, Getty, Democratic Party, Montana Democrat, Sen, Homeland, Colorado Republican Locations: Alaska, Cleveland, Ohio, Sens, Arizona, West Virginia, Montana, Wisconsin
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