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☆ Dave Calhoun was the CEO hired to fix Boeing. It has been in crisis since he took over
▼ + stars: | 2024-03-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

So how does CEO Dave Calhoun still have a job? Boeing said it is working closely with regulators’ investigations and has plans in place to improve safety measures at its production facilities. Boeing’s 737 Max problems would be egregious enough on its own. But Dave Calhoun, Boeing’s chief executive since 2020, remains in his job, as does the entire C-suite at the time of this writing. Boeing hired Calhoun to right the ship.

Persons: New York CNN —, Dave Calhoun, “ It’s, ” Richard Aboulafia, ”, Max, John Barnett, Barnett’s, ‘, Calhoun, ’ ”, Aboulafia, McDonnell Douglas, “, ” Aboulafia, Boeing hasn’t, haven’t, ” Gad Allon, Allon isn’t Organizations: New, New York CNN, Boeing, ” Boeing, Airbus, CNN, University of Pennsylvania’s Wharton School of Business Locations: New York, Australia, New Zealand, Calhoun

☆ Who will buy TikTok from ByteDance?
▼ + stars: | 2024-03-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

At $100 billion, there are few companies that could afford to buy TikTok outright. Citing people familiar with the matter, the Journal wrote that Kotick “floated the idea of partnering to buy TikTok to a table of people that included OpenAI CEO Sam Altman.”CNN couldn’t independently confirm the report. Its one go at the social media scene, the buggy and short-lived Ping, was one of Apple’s biggest flops. And any tech executive or private equity investor thinking of buying TikTok would need to be prepared to enter the social media quagmire. A key question in assessing the value of a TikTok deal is whether China would allow ByteDance to export its algorithm — the secret sauce that keeps TikTok users glued to their phones.

Persons: CNN Business ’, There’s, Joe Biden’s, who’d, Dan Ives, ” Ives, Who’s, ”, Gene Kimmelman, OpenAi, Bobby Kotick, Activision Blizzard, “, Sam Altman, ” CNN couldn’t, Altman didn’t, doesn’t, quagmire, They’d, Mark Zuckerberg, Shou Chew, It’s, Trump, —, Brian Fung Organizations: CNN Business, New York CNN, Senate, Microsoft, Department, Google, ” Meta, Facebook, Street Journal, Activision, ” CNN, Kotick, Apple, Oracle, Walmart, Communist Party, ByteDance Locations: New York, United States, Beijing, Europe, China

☆ How do we solve a problem like Boeing?
▼ + stars: | 2024-03-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —It took decades for Boeing to build a reputation as one of the most reliable companies on the planet. The latest headache for Boeing came Monday, when a 787 Dreamliner flying from Australia to New Zealand plunged suddenly mid-flight, injuring several passengers. It’s not clear what, if any, culpability Boeing has here — it said it’s gathering information about what went wrong. So, how do we solve a problem like Boeing? “This can be really as big as a financial crisis,” considering how many businesses around the world rely on Boeing planes.

Persons: CNN Business ’, Tesla, Brian Jokat, it’s, can’t, ” Gad Allon, “, ” Allon isn’t, Matt Stoller, ” Stoller, that’s, “ There’s, ” Allon Organizations: CNN Business, New York CNN, Boeing, American, Regulators, Latam Airlines, CNN, Wall Street Journal, FAA, Airbus, Pilots, University of Pennsylvania’s Wharton School of Business, American Economic Liberties, Boeing isn’t Locations: New York, Australia, New Zealand, American

☆ Musk’s haphazard philanthropy is under scrutiny
▼ + stars: | 2024-03-12 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

As CEO of Tesla, “I’ve done more for the environment than any single human on Earth,” he told the New York Times last year. But American tax law dangles some significant incentives for them to do so. Musk likely managed to shave a couple billion off his $11 billion tax bill in 2021, thanks to the $5.7 billion he donated to the Musk Foundation, according to the Times. In Musk’s case, according to the Times, that meant giving millions of dollars to Cameron County, Texas. “The way I see Elon Musk is that he’s really pushing the limits of the alternative approaches to philanthropy,” Pasic said.

Persons: CNN Business ’, New York CNN — Elon Musk, Tesla, ”, MacKenzie Scott, Jeff Bezos, “, ’, ’ ” Musk, Musk, ” Amir Pasic, Indiana University Lilly, Elon, ” Pasic Organizations: CNN Business, New York CNN, New York Times, Musk, Times, Indiana University, Indiana University Lilly Family School of Philanthropy, SpaceX Locations: New York, Cameron County , Texas

☆ Banks are still fighting safeguards even as risks pile up
▼ + stars: | 2024-03-08 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

Ultimately, it’s very high leverage,” Tomasz Piskorski, a finance professor at Columbia Business School, tells me. Even a year after that exact thing happened — Silicon Valley Bank failed after depositor demand eclipsed the value of its assets — regulators haven’t addressed the core leverage issue. The most obvious answer is one the banking industry hates: Increase the amount of money a bank is required to hold in reserve. And their go-to argument against such regulations is that they force banks to curtail loans to customers, hurting folks in the real economy. The upshot: Despite the banking industry’s protest, banks can handle much higher capital requirements (at least, according to Piskorski et al).

Persons: CNN Business ’, it’s, ” Tomasz Piskorski, there’s, Piskorski, haven’t, Jerome Powell, ” Piskorski Organizations: CNN Business, New York CNN, New York Community Bank, Columbia Business School, Valley Bank, Federal Reserve, National Bureau of Economic Research Locations: New York, Basel, stow, “

☆ Premarket stocks: What ‘Super Tuesday’ means for your portfolio
▼ + stars: | 2024-03-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Welcome to “Super Tuesday.” Today, a whopping 16 states and territories hold primary elections. But stock market analysts say not to fret and to hold tight. Based on annualized returns for the S&P 500, stocks gained an average 13.75% during Trump’s presidency. Election year math: History shows that stocks typically gain during the fourth year of presidential terms. The S&P 500 has gained 6.2% on average during the fourth year of presidential terms since 1932, according to Yardeni Research.

Persons: ’, Edward Jones, Donald Trump, Joe Biden, Angelo Kourkafas, ” Kourkafas, Raymond James, Trump, Obama, ”, Simon Hamilton, Barack Obama, “ That’s, it’s, Hamilton, Goldman Sachs, Allison Morrow, Bitcoin, —, Simone McCarthy, Premier Li Qiang, Hong Organizations: CNN Business, Bell, New York CNN, ”, Markets, White House, Congress, CNN, Republicans, Republican, “, Research, Dow Jones, University of Cincinnati, University of Missouri, Securities and Exchange, Bloomberg, Premier, National People’s Congress Locations: New York, Washington, Hamilton, United States, China, Beijing

☆ Bitcoin surges to a new record high as mainstream money flows into crypto
▼ + stars: | 2024-03-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

New York CNN —Bitcoin surged to its all-time high on Monday, shaking off a more than two-year rut that put the future of the entire crypto ecosystem in question. Bitcoin, the world’s first and by-far largest digital currency, was trading at $68,791, topping the previous record of $68,789 reached on November 10, 2021. After just a month, the ETFs had spurred more than $4.2 billion in net new flows, according to Bloomberg. ETFs are investment tools that track a basket of assets but trade like a stock. As bitcoin approaches scarcity, the value is expected to rise.

Persons: New York CNN — Bitcoin, —, Sam Bankman Organizations: New, New York CNN, Securities and Exchange, Bloomberg Locations: New York

☆ Sam Bankman-Fried’s lawyers push for 6-year sentence in multibillion-dollar FTX fraud
▼ + stars: | 2024-02-28 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

Under federal sentencing guidelines, he could face a maximum of 110 years. In the memo, Bankman-Fried’s lawyer, Marc Mukasey, asks the judge overseeing the case to reject the pre-sentencing report prepared by the Probation Department, which recommends a 100-year sentence. Considering Bankman-Fried’s “charitable works and demonstrated commitment to others” Mukasey recommends a prison sentence between five and six-and-a-half years. The judge overseeing the case, Lewis Kaplan of the Southern District of New York, will weigh several factors in deciding Bankman-Fried’s sentence, including arguments from prosecutors, defense counsel and the recommendations from the Probation Department. Typically, in white-collar crimes, the bigger the financial loss, the longer the sentence.

Persons: Sam Bankman, Fried, Marc Mukasey, ”, “, ” Mukasey, —, Mukasey, FTX, Lewis Kaplan, Jordan Estes, Kramer Levin, Estes Organizations: New, New York CNN, Probation Department, Southern, of, Department, ”, US Attorney’s, Southern District Locations: New York, Manhattan, FTX, Brooklyn, of New York

☆ Caitlin Clark is breaking more records
▼ + stars: | 2024-02-27 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —It wouldn’t be a Caitlin Clark game without a record being broken. The average purchase price for her game, as of Tuesday morning, is 1,100% more expensive ($557) than the average price of a WNBA game ($49). Clark hasn’t said if she will forgo the 2024 WNBA draft — where she is projected to be selected first overall — or remain in college for a fifth season. That meant college athletes like Clark could start making money off their likeness. Clark has also signed deals with Gatorade, Nike and State Farm, among others.

Persons: Caitlin Clark, Clark, TickPick, ” TickPick, Brett Goldberg, “, Clark hasn’t, Shedeur Sanders, Deion Sanders, ’, CNN’s Clare Duffy, Allison Morrow Organizations: New, New York CNN, NCAA, University of Iowa, Ohio State, University of Michigan, Carver, FOX, WNBA, CNN, Iowa, Big, Clark, University of Colorado Buffaloes, NFL Hall of, Gatorade, Nike, State Farm Locations: New York, Iowa, Ohio, Minneapolis

☆ Caitlin Clark just broke another record
▼ + stars: | 2024-02-21 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Caitlin Clark, the University of Iowa athlete who last week became the all-time leading scorer in NCAA women’s basketball, is breaking more records. That meant athletes, like Clark, could start making money off their likeness. Fanatics told CNN that that it sold more Clark-branded merchandise “than any other individual men’s or women’s NIL-era college athlete across all sports has sold since 2022,” in less than 24 hours after she broke the record last Friday night. And the growing profiles of top athletes like Clark are helping to bring more attention — and more revenue — to women’s college sports programs and professional leagues. He added that Clark herself has a following of “Clarkies.”CNN’s Clare Duffy and Allison Morrow contributed to this report.

Persons: Caitlin Clark, Clark, Shedeur Sanders, Deion Sanders, ’, can’t, Clark’s, ”, Patrick Rishe, St . Louis, “, ” CNN’s Clare Duffy, Allison Morrow Organizations: New, New York CNN, University of Iowa, NCAA, CNN, Clark, University of Colorado Buffaloes, NFL Hall of, Nike, Topps, Gatorade, State Farm, WNBA, Brands, “, Washington University Locations: New York, Iowa, St .

☆ Caitlin Clark-onomics and the new era of profitability in college sports
▼ + stars: | 2024-02-16 | by ( Clare Duffy | Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —Caitlin Clark made history Thursday as women’s college basketball’s all-time leading scorer. The total market for commercial NIL deals for college athletes is expected to reach an estimated $200 million in 2024, according to Opendorse, an online platform that helps connect athletes with NIL deals. The growing public profiles of college athletes has also meant additional funds for their schools and athletics programs. TickPick estimates the game will be the most expensive in women’s college basketball history. This past Sunday, Nebraska’s victory over Iowa in Lincoln attracted 1.7 million viewers — the most-watched women’s college basketball game ever on Fox Sports.

Persons: Caitlin Clark, Clark, ”, Patrick Rishe, St . Louis, “, Caitlin Clark’s, ” Rishe, ” Sam Weber, Angel Reese, Flau’jae Johnson, On3, Spotrac, Weber, Tiger Woods, LeBron James, doesn’t, ” Weber, maxing, you’ve Organizations: New, New York CNN, Gatorade, Nike, State Farm, WNBA, “, Washington University, Farm, CNN, LSU, NBA, Iowa Hawkeyes women’s, Iowa, Michigan Wolverines, Ohio State, Fox Sports, Women Locations: New York, Iowa, St ., Iowa City, StubHub, Lincoln

☆ Why some investors don’t mind waiting longer for rate cuts
▼ + stars: | 2024-02-15 | by ( Krystal Hur | ) edition.cnn.com time to read: +8 min

Stocks and bonds both sold off as investors painfully recalibrated their expectations for five to six interest rate cuts this year to align more with the Fed’s projected three cuts. For example, Yardeni Research has pushed back against the idea that immediate rate cuts are necessary to avoid the Fed overshooting on slowing the economy. Stocks wouldn’t crater even if cuts were off the table completely in 2024, according to Bank of America, despite what Tuesday’s losses suggest. “No cuts could stymie a full-fledged recovery in more credit-sensitive areas,” wrote BofA strategists in a note on February 9. That means regional lenders will no longer have that crutch if they run into trouble after the program’s expiration on March 11.

Persons: Jerome Powell, ”, Ed Yardeni, it’s, Marc Dizard, Allison Morrow, Bitcoin, bitcoin, Antoni Trenchev, ” Read, Alicia Wallace, Read Organizations: CNN Business, Bell, New York CNN, Wall, Federal Reserve, Traders, Fed, Federal Deposit Insurance Corporation, US Treasury, Valley Bank, Signature Bank, Yardeni Research, Bank of America, PNC Asset Management Group, Federal Reserve Bank of New, New York Fed, Liberty Street Economics, , New York Fed Locations: New York, pare, Federal Reserve Bank of New York, , New

☆ Elon Musk doubles down on his promise to ditch Delaware. SpaceX is headed for Texas incorporation
▼ + stars: | 2024-02-14 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —SpaceX wants to move its business incorporation location from Delaware to Texas, according to a Wednesday filing to the Texas Secretary of State. The move by the Elon Musk-owned company comes after a Delaware state judge struck down Musk’s 2018 Tesla pay package, siding with a shareholder who had challenged it as excessive. “SpaceX has moved its state of incorporation from Delaware to Texas!” Musk posted on X Wednesday. “Never incorporate your company in the state of Delaware,” Musk posted on X in January. After the pay package ruling, Musk said he is seeking shareholder approval to incorporate Tesla, another company that he leads, in Texas.

Persons: Musk, ”, Neuralink, ” Musk, “, Tesla, Madok, Allison Morrow Organizations: New, New York CNN, SpaceX, State, Elon Musk, United States ’, Bloomberg, Texas Locations: New York, Delaware, Texas, Nevada

☆ Everyone needs an editor. Lyft just learned it the hard way
▼ + stars: | 2024-02-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

That goes for MBAs as much as MFAs, and it’s a lesson Lyft executives learned the hard way on Tuesday, when an errant zero sent its stock (briefly) to the stratosphere. The Lyft typo came in an earnings report that stated, incorrectly, that the company’s estimated gross margin would expand by 500 basis points, which would amount to a stunning five-percentage-point bump. The stock shot up more than 60% before Lyft’s CFO corrected the error on a call with analysts, bringing the stock back to Earth. With the error in the rear view, Lyft shares were up up 30% Wednesday, bolstered by stronger-than-expected earnings and a rosy outlook for future cash flows. “Look, it was a bad error, and that’s on me,” Lyft CEO David Risher told CNBC on Wednesday.

Persons: CNN Business ’, History’s, —, Arthur C, Clarke, Galena Biopharma, King Charles I, ”, David Risher Organizations: CNN Business, New York CNN, MBAs, Citibank, Citi, Mizuho Securities, NASA, New York Times, Bangladesh Bank, Reuters, Maine, SEC, CNBC Locations: New York, Mizuho, Galena

☆ Bitcoin euphoria is back as investors prepare for the quadrennial ‘halving’
▼ + stars: | 2024-02-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

There are a few key forces forces driving the latest bitcoin euphoria, including an influx of money from investors in newly launched bitcoin exchange-traded funds and excitement over the halving, when the rate of bitcoin production is slashed. “Which is exciting because if history rhymes, the next 12-18 months is going to be a scorcher for crypto.”The halving hypeThe halving, also called the “halvening,” is a foundational concept in the bitcoin philosophy. In 2016, it was about almost 800% over that two-year period; for the 2020 halving, investors saw a 700% gain. The imminent bitcoin halving is setting up a grand chess game in the markets, Henry Robinson, co-founder of Decimal Digital Currency, said in an email. The timing of this year’s halving is also significant, coming just a few months after the US Securities and Exchange Commission approved the first spot bitcoin ETFs.

Persons: New York CNN —, Bitcoin, bitcoin, ”, Antoni Trenchev, Gareth Rhodes, bitcoin’s, Rhodes, Henry Robinson, ” Robinson, “, it’s Organizations: New, New York CNN, New York State Department of Financial Services, Decimal, US Securities and Exchange Commission, BlackRock, Fidelity, Bloomberg Locations: New York, bitcoins

☆ How Vince McMahon built an empire on fakery and taught Donald Trump to control a crowd
▼ + stars: | 2024-02-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +9 min

New York CNN —Netflix recently bet $5 billion on the idea that pro wrestling is due for a renaissance. The potential liability for Netflix, though, lies with World Wrestling Entertainment’s longtime puppet master and promoter, Vince McMahon. CNN: Vince McMahon has been a powerful force in American culture over the last 40 years, but I think that’s hard to convey to non-wrestling fans. Riesman: For about 40 years, Vince McMahon was the central actor and gravitational point for the American and Canadian professional wrestling industry. There’s kayfabe, and then there’s what Vince really pioneered, which is neokayfabe, a term I made up.

Persons: CNN Business ’, ”, Hulk Hogan, That’s, Wrestling Entertainment’s, Vince McMahon, McMahon, didn’t, Abraham Josephine Riesman, “, ” Riesman, Dwayne “, ” Johnson, Steve Austin, Donald Trump, Riesman, Vince, Donald Trump’s, Vince’s, Donny Trump, Trump, Linda, I’m, It’s, There’s, You’re, you’re, Vince McMahon’s, Mr, McMahon ”, Sammy Stein — Organizations: CNN Business, New York CNN, Netflix, Wrestling, WWE, Wall Street, CNN, American, Trump, Trump . CNN, Endeavor Locations: New York, America, Canadian, Queens, United States

☆ McDonald’s pushed customers to the brink on price. They’re starting to push back
▼ + stars: | 2024-02-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

At McDonald’s, which has repeatedly boasted about its ability to raise menu prices without denting sales, executives are finally acknowledging that customers need a break. But his focus on affordability marked a shift from just a few months ago, when he boasted that US menu prices, which went up as much as 10% in 2023 alone, weren’t deterring sales. On TikTok, it’s a common refrain for McDonald’s customers to say the company has gone too far, charging more than $3 for a single hash brown in some locations. Still, up until recently, McDonald’s found most customers were still willing to pay. Kempczinski said McDonald’s would double down on its “D123” strategy, which prices some items between $1 and $3.

Persons: Chris Kempczinski, Kempczinski, didn’t, ”, McDonald’s, y’all y’all, “ we’re, “ Organizations: New, New York CNN — Corporate Locations: New York, Darien , Connecticut, United States, Darien, America, Des Moines

☆ Tesla stock drops as investors scrutinize board’s close personal ties to Elon Musk
▼ + stars: | 2024-02-05 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Ehrenpreis is also a close friend to Kimbal Musk, Elon’s brother, who is also a Tesla board member. In another instance, the judge emphasized the role of Tesla’s general counsel Todd Maron — who was previously Musk’s divorce lawyer — in advising Tesla’s board and compensation committee. Maron was “totally beholden to Musk,” McCormick wrote in her ruling last week, adding that Maron’s admiration for Musk “moved him to tears” during both his deposition and in trial testimony. Maron’s team prepared “an aggressive timeline for approving a compensation plan,” McCormick wrote in her more than 200-page ruling. The break-neck speed of the process “reflected a reckless approach to a fiduciary process.”Robyn Denholm, the Tesla board chair, doesn’t appear to have had any personal relationship with Musk outside of her service on the board, McCormick wrote.

Persons: New York CNN — Tesla, Elon Musk’s, Judge Kathaleen McCormick, Musk, Ira Ehrenpreis, Kimbal, Ehrenpreis, Antonio Gracias, McCormick, Tesla’s, Todd Maron —, —, Maron, “, ” McCormick, Musk “, Maron’s, Robyn Denholm, Denholm, can’t, ” Tesla, Tesla, Monday’s selloff, Piper Sandler, Gordon Johnson, ” Johnson, Elon, ” Organizations: New, New York CNN, Elon, The, Gracias, Nasdaq, GLJ, CNN Locations: New York, Delaware, Spain, Kimbal’s

☆ Who can rein in Elon Musk? Someone you’ve probably never heard of
▼ + stars: | 2024-01-31 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

But this week, a Delaware state judge handed down a message that Musk and other powerful men in America seldom hear: Nope. The outcome of Musk’s pay package dispute is the latest instance of a towering, brash business leader getting put in his place by the one institution powerful enough to do so: US courts. Kathaleen McCormick struck down Elon Musk’s 2018 Tesla pay package after an investor challenged it as excessive. Kathleen Flynn/ReutersAmong the threads connecting Musk, Trump and McMahon is a history of evading negative consequences. “And if that’s the case, let that be a message to other people: The litigation system actually does work.”The pay package dispute wasn’t McCormick’s first rodeo with Musk.

Persons: CNN Business ’, New York CNN — Elon Musk, Kathaleen McCormick, who’d, Donald Trump, Trump, Vince McMahon, McMahon, Elon, Kathleen Flynn, Eric Talley, Talley, ”, Musk, McCormick, McCormick didn’t, “ We’ve, ‘, ’ ” Talley, “, Katie McCormick Organizations: CNN Business, New York CNN, Bloomberg, World Wrestling Entertainment, Reuters, Trump, Columbia, Twitter Locations: New York, Delaware, America

The defense’s questions were effectively pre-cleared by the judge, as Trump was not allowed to re-litigate the verdict from last year. Trump attorney Alina Habba first asked her client whether he stood by his testimony in a previous deposition denying Carroll’s allegations. Habba then asked, “Did you deny the allegation because Ms. Carroll made an accusation.”“That’s exactly right, yes I did.” Trump replied. Habba asked Martin whether she felt that Carroll enjoyed the attention that came with her lawsuits against Trump. In the first trial, Martin said she was having issues with Carroll at the time she sent the messages and later felt bad about it.

Persons: Joe Biden, Donald Trump, Lewis Kaplan –, Jean Carroll, Trump, Carroll, Alina Habba, ”, Habba, “, ” Trump, ” Judge Kaplan, ” Habba, Roberta Kaplan, –, Judge Kaplan shushed, Carroll Habba, Carroll’s, Carol Martin, Martin, ” Martin, “ Trump, disparages Carroll Organizations: New, New York CNN, Hampshire, Trump, Democrat, Team Trump, CNN Locations: New York, Manhattan, York

☆ Why companies like Kyte Baby keep screwing up, virally
▼ + stars: | 2024-01-23 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Office work has become a far less rigid affair in the era of remote collaboration and hybrid schedules. (Just ask me, I’m writing this in bed while wearing a hoodie and yoga pants on a Monday afternoon.) But a lot of companies haven’t updated their scripts when it comes to delivering hard news to their employees. And in both cases, the fired employees funneled their anger toward a social media audience that would have their backs. “The comments were right — it was scripted … I just basically read it, it wasn’t sincere,” she says in her second apology video.

Persons: CNN Business ’, —, that’s, Kyte Baby, “, James Haggerty, Eva Rothenberg, ” Kyte, Ying Liu, Liu, ”, “ I’ve, Matthew Prince, ” Prince, “ There’s Organizations: CNN Business, New York CNN, Corporate, Times Locations: New York, America

☆ What broke the American Dream for Millennials
▼ + stars: | 2024-01-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +11 min

For their nine-month-old son, Miles, Rachael and Garrett agree: They’re not going to push him to pursue the same path. “This is the American Dream,” Rachael says. The nest egg mythA common refrain Millennials heard from their Boomer parents is that buying is always better than renting. Luke Sharrett/Bloomberg/Getty ImagesCentral to the pitch of the American Dream is a house. “I don’t think anyone could have foreseen house prices going up 20% or 30% in a three-year period,” Garrett says.

Persons: Pennsylvania CNN — Rachael Gambino, Garrett Mazzeo, —, Miles, Rachael, Garrett, They’re, ’ ”, ” Rachael, Kristen Gambino, Rachael Gambino, Deborah Brunswick, John General, America it’s, Brendan Duke, Baby, Millennials, gumming, Obama, ”, Louis, Boomer, Luke Sharrett, they’d, ” Garrett, they’re, homeownership, We’re, “ we’re, That’s, Duke, ” Duke, “, Camerota, Matthew Friedman Organizations: Pennsylvania CNN, “, CNN, Center for American Progress, of Education, America, Federal Reserve Bank of St, Bloomberg, Getty, Federal Reserve Bank of Philadelphia, Workers, Center, American Progress ’ Locations: Lansdale, Pennsylvania, America, United States, Attom, financials

☆ Supreme Court agrees to hear case over Starbucks’ firing of pro-union employees
▼ + stars: | 2024-01-12 | by ( Luciana Lopez | Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN —The US Supreme Court on Friday agreed to hear a case in which Starbucks was ordered to re-hire pro-union workers that the coffee company had previously fired. Starbucks appealed, and on Friday, the Supreme Court said it would take up the case. Since then, Starbucks has fought those unionization efforts, often resulting in NLRB and court battles. In that case, the judge said the company displayed “egregious and widespread misconduct” in its dealings with employees involved in unionization efforts. “We are pleased the Supreme Court has decided to consider our request to level the playing field for all US employers,” Starbucks said.

Persons: ” CNN’s Danielle Weiner, Bronner Organizations: New, New York CNN, Starbucks, National Labor, Board, Starbucks Workers United Locations: New York, Memphis , Tennessee, Memphis, Buffalo

☆ Microsoft’s Satya Nadella is CNN Business’ CEO of the Year
▼ + stars: | 2023-12-26 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +10 min

New York CNN —It was the year of artificial intelligence, and no Big Tech company leaned into the trend like Microsoft. That’s why CNN Business’ staff chose Nadella as the CEO of the Year, beating out other contenders including Chase CEO Jamie Dimon, OpenAI CEO Sam Altman and Nvidia CEO Jensen Huang. “There’s no question 2023 was the year of AI,” Nadella told CNN in an emailed response. OpenAI CEO Sam Altman and Nadella shared the stage at OpenAI’s first developer conference to discuss their partnership. Nadella told CNN he indeed remains “focused” on empowering both people and organizations to achieve more, as it continues to make and deploy new products.

Persons: Satya Nadella, Nadella, Jamie Dimon, Sam Altman, Jensen Huang, “, ” Nadella, Pfizer’s Albert Bourla, Taylor Swift, Gil Luria, DA Davidson, ”, OpenAI —, Justin Sullivan, OpenAI’s Altman, Altman, “ It’s, OpenAI, ” OpenAI, ” Luria, Greg Brockman, Luria, Fred Havemeyer, “ Mr, Brad Barket, Stuart Carlaw, Nadella’s, he’s, ” Carlaw, hasn’t, ” Takeshi Numoto, — CNN’s Allison Morrow Organizations: New, New York CNN, Big Tech, Windows, CNN Business ’, Chase, Nvidia, CNN, Fortune, Microsoft, Ivy League, University of Wisconsin -, University of Chicago Booth School of Business, ChatGPT, Google, Macquarie, ABI Research Locations: New York, Silicon Valley, Seattle , Washington, Valley, India, University of Wisconsin - Milwaukee, Instacart, OpenAI

☆ Crypto’s 2023 was marred by fraud and scandal. It was its best year ever
▼ + stars: | 2023-12-24 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —Crypto’s 14th year in existence was one marred by scandal, bankruptcy, fraud and regulatory squabbling. Bitcoin, the crypto’s bellwether asset, is up 160% for the year. “It was the year of crypto’s resiliency,” Kyla Curley, a crypto expert and partner at global advisory StoneTurn, tells CNN. “Fraud is fraud,” Curley says, “Regardless of the technology or the industry … you cannot stop human nature. Adding to that bullish sentiment: the bitcoin halving, or, more menacingly, “the halvening.”While it’s often a buy-the-hype-sell-the-news kind of event, the halving does tend to push bitcoin higher.

Persons: New York CNN —, “, ”, Sam Bankman, Zhao, Alex Mashinsky, Heather “ Razzlekhan ” Morgan, Ilya Lichtenstein, ‘, Bonnie, Clyde ’, Bitcoin, crypto’s, ” Kyla Curley, ” Curley, Changpeng Zhao, Eduardo Munoz, Costas Baltas, Faryar Shirzad, bitcoin, ” Antoni Trenchev, ” Trenchev, Warren Buffett, Anthony Scaramucci, “ Bitcoin Organizations: New, New York CNN, New York CNN — Crypto’s, CNN, Department of Justice, crypto’s, grifters, Bitcoiners, SkyBridge Locations: New York, SBF, Bitcoin

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