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Courtesy of Susie Buffett Laila Buffett poses with her three children -- from left, Roberta, Warren and Doris. Courtesy of Susie Buffett Buffett teaches a class at the University of Nebraska-Omaha. Courtesy of Susie Buffett Buffett married his first wife, Susan, in 1952. Courtesy of Susie Buffett Buffett poses for a photo in 1980. Daniel Acker/Bloomberg/Getty Images Buffett attends the world premiere of "Becoming Warren Buffett," a documentary about his life, in 2017.
Persons: Washington CNN — Warren Buffett, outlive, ” Buffett, I’ve, , Buffett, — Susie, Howard, Peter Buffett, , “ I’ve, Susan Thompson Buffett, Melinda Gates, Warren Buffett, Nati, Laila, Howard Buffett, Susie Buffett, Ernest, Susie Buffett Laila Buffett, Warren, Doris, Susie Buffett Warren Buffett, Susie Buffett Buffett, Susan, Peter, Lee Balterman, Salomon, Marcy Nighswander, AP Buffett, Buffett's, Mark Peterson, Curt Hudson, Arnold Schwarzenegger, Kathy Willens, Chris Machian, Dave Weaver, Michael Israel, John Sleezer, Bill Gates, Mario Tama, Barack Obama, Obama, doggedly, isn't, Jim Watson, Daniel Acker, Harry Benson, Getty Images Buffett, Astrid, David Cameron, Brendan Hoffman, Kristoffer Tripplaar, Alamy Buffett, Scott Eells, Chris, Franklin, Ndamukong Suh, Charlie Munger, Scott Olson, Huang Jihui, Jason Miller, Adam Jeffery, Hillary Clinton, Kempin, Forbes, Andy Kropa, Scott Morgan, Reuters Buffett, Andrew Harrer Organizations: Washington CNN, Berkshire Hathaway, Susan Thompson Buffett Foundation, Melinda Gates Foundation, Bloomberg, University of Nebraska -, Getty, Federal Reserve, AP, Omaha for Berkshire, California Gov, Wall Street, Schwarzenegger's, Kansas City Royals, Kansas City Star, Girl Scouts, Buffett, Microsoft, Getty Images, White, British, Woodrow Wilson High, Washington, Forbes, Harlem Globetrotters, Cleveland Cavaliers, Moon, NBA, CNBC, Reuters Locations: Omaha , Nebraska, Omaha, University of Nebraska - Omaha, Omaha for, Woodstock, Trenton , New Jersey, New York, AFP, Berkshire, Washington , DC, Illinois, Sun Valley , Idaho
AdvertisementElon Musk criticized the F-35 program on Sunday. The GAO expects the F-35 program to cost about $2 trillion over its entire lifespan. The billionaire reposted a video montage of coordinated drone swarms on X, writing: "Meanwhile, some idiots are still building manned fighter jets like the F-35." Meanwhile, some idiots are still building manned fighter jets like the F-35 🗑️ 🫠pic.twitter.com/4JX27qcxz1 — Elon Musk (@elonmusk) November 24, 2024It's unclear if Musk intends to use his new position to impact any plans or costs for the F-35, the Pentagon's most expensive fighter program to date. AdvertisementMusk has said before that the US should consider remote-piloted alternatives to manned jets, both to keep up with the rise in drone warfare but also to help Air Force procurement stay competitive.
Persons: Elon Musk, Musk's, Trump, Donald Trump, emoji, Musk Organizations: GAO
We've reviewed Allbirds extensively, from the Tree Runners to the Couriers to the brand's SuperLight sneak, and our universal consensus is that they're worth the hype. Allbirds Men's Tree Runners $68.00 $98.00 Save 31% Allbirds Men's Tree Runner sneakers are crazy comfortable with a flattering and close-fitting silhouette and have a smooth but texturized upper. View at AllbirdsAllbirds Women's Tree Runners $68.00 $98.00 Save 31% Allbirds Women's Tree Runner sneakers are crazy comfortable with a flattering and close-fitting silhouette and have a smooth but texturized upper. View at AllbirdsBlack Friday clothing deals quick links: Best Black Friday clothing dealsAllbirds Black Friday sale FAQsWhen does the sale start and end? Allbird's Black Friday sale runs now through November 24.
Persons: We've, Allbirds, Organizations: Business, Black, Wool, Allbirds, Tree
Chipmaker Intel and the CHIPS Act Office are close to finalizing a deal which would award the company a roughly $8 billion grant, according to a person familiar with the matter, as the Biden administration moves to dole out funds before President-elect Donald Trump's inauguration. The U.S. awarded Taiwan Semiconductor Manufacturing Co. a $6.6 billion grant earlier this month, raising investor expectations that cash funding for Intel would come soon. Intel has benefited from CHIPS Act tax breaks but has not yet received cash awards, something which Intel CEO Pat Gelsinger has expressed dissatisfaction with. "We're frustrated that hasn't moved faster," Gelsinger told CNBC in October, referring to the CHIPS Act grants. U.S. House Speaker Mike Johnson had previously said he might look to repeal the bipartisan CHIPS Act, but he then walked back those comments.
Persons: Biden, Donald Trump's, Intel's, Pat Gelsinger, hasn't, Gelsinger, They've, Mike Johnson, acquirers Organizations: Intel, Commerce Department, Department of Defense, Street Journal, The New York Times, U.S, Taiwan Semiconductor Manufacturing, CNBC, Qualcomm Locations: Intel's
The Pre-Market Rundown 2: November 25, 2024
  + stars: | 2024-11-25 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Pre-Market Rundown 2CNBC brings you fast, accurate, and actionable business news and market updates.
Organizations: CNBC
New York CNN —Kohl’s announced its CEO Tom Kingsbury will step down on January 15, 2025, and will be replaced by the CEO of arts and crafts retailer Michaels. Ashley Buchanan, the next Kohl’s CEO, has been CEO of Michaels since 2020 and was a senior executive at Walmart and Walmart-owned Sam’s Club for 13 years. He took over after former Kohl’s chief executive Michelle Gass announced she was leaving the company to become the CEO at Levi’s (LEVI). Kingsbury will stay on as an advisor to Buchanan and on the Kohl’s Board of Directors until he retires in May 2025. Shares of Kohl’s dropped 5% in after-hours trading Monday.
Persons: New York CNN — Kohl’s, Tom Kingsbury, Michaels, Ashley Buchanan, Kingsbury, Michael Bender, Michelle Gass, LEVI, Buchanan, Kohl’s Organizations: New, New York CNN, Walmart, Sam’s Club, Kohl’s Locations: New York
AdvertisementMacy's has delayed Q3 earnings as it investigates over $130 million in hidden expenses. Macy's said a single employee was responsible for "erroneous accounting accrual entries." The employee is no longer working at Macy's, the company said. Macy's just delayed its third-quarter earnings, saying it is undertaking a forensic investigation into a single employee's concealment of more than $130 million in expenses. The individual who engaged in this conduct is no longer employed by the company," the company said.
Persons: Macy's, , Tony Spring Organizations: Business Locations: Macy's
When Donald J. Trump first ran for the White House in 2016, his closing campaign advertisement lamented the influence of Wall Street in Washington, flashing ominous images of big banks and the billionaire liberal philanthropist George Soros. Now, as president-elect, Mr. Trump has tapped two denizens of Wall Street to run his economic agenda. Mr. Trump’s choices to lead his economic team show the prominence of billionaire investors in setting an agenda that is supposed to fuel a “blue-collar boom” but that skeptics think will mostly benefit the rich. As Mr. Trump prepares to assume the presidency in January, business owners and investors are closely attuned to which of his economic promises he will ultimately follow through on. The selections of Mr. Bessent and Mr. Lutnick cement a hold by Wall Street executives over the two most important economic posts in any administration.
Persons: Donald J, Trump, George Soros, Scott Bessent, Soros, Howard Lutnick, Cantor Fitzgerald, Bessent Organizations: White House, Commerce Department, Mr, Wall Street Locations: Washington, China
And comparable sales rose at both Bloomingdale’s and Bluemercury, the company’s luxury brands. Those results are early signs that Macy’s latest strategy of investing in these parts of the business may be working. Macy’s said it had found the accounting error while preparing its results for the quarter, which ended Nov. 2. An investigation was opened and the employee was no longer with the company, Macy’s said. In the same time period of the accounting issue in which the employee hid up to $154 million, the retailer said it had recorded about $4.36 billion of delivery expenses.
Persons: Macy’s Organizations: Target, National Retail Federation
AdvertisementAn American Airlines flight returned to São Paulo after turbulence injured a passenger. An American Airlines passenger was taken to hospital after their flight encountered turbulence. Data from Flightradar24 shows that Saturday's Flight 930 from São Paulo to Miami U-turned less than two hours after taking off. Related Video Severe turbulence launches passengers to the ceiling of Singapore Airline flightAn airline spokesperson confirmed to Business Insider that the flight landed safely back in São Paulo "after encountering turbulence while in flight." A Singapore Airlines passenger died, and dozens more were injured during severe turbulence in May.
Persons: São Paulo Organizations: American Airlines, Singapore Airline, Business, Boeing, Aviation Herald, Singapore Airlines, Korean, University of Reading Locations: Miami, Singapore, São, Brazil
AdvertisementNowThis laid off about half its unionized newsroom, marking the second deep round of cuts this year. The layoffs affected 13 of 21 of NowThis' WGA East members. NowThis recently laid off about half its unionized newsroom, the second round of deep cuts this year at the digital news company. Thirteen of NowThis' 21 members of WGA East, which represents the newsroom, were impacted, according to a union representative. NowThis used to be part of Vox Media, which got the company in its 2021 acquisition of Group Nine Media.
Persons: NowThis, Michael Vito Valentino, Vox, George Soros Organizations: WGA, Fallen Media, MTV, Vox Media, Group Nine Media, NowThis, Open Society, Democratic, Noticias Para Inmigrantes Locations: NowThis
Scott Bessent speaks at the National Conservative Conference in Washington D.C., Wednesday, July 10, 2024. Dominic Gwinn | Afp | Getty ImagesFinancial markets on Monday welcomed President-elect Donald Trump's pick for U.S. Treasury secretary, with currencies across the globe rallying on hopes that hedge fund manager Scott Bessent can take some of the sting out of Trump's more extreme economic views. "Trump's pick for Treasury Secretary has swelled investor sentiment further with stocks on Wall Street looking set for another flurry of gains," Susannah Streeter, head of money and markets at Hargreaves Lansdown, said in a research note. While many economists are skeptical about the effectiveness of tariffs, Bessent has defended them as "a useful tool for achieving the president's foreign policy objectives." Some strategists expect Trump's Treasury chief pick to be welcomed as good news for Asian currencies over the coming months.
Persons: Scott Bessent, Dominic Gwinn, Donald Trump's, paring, Trump, Bessent, Susannah Streeter, Hargreaves Lansdown, Scott Bessent's, George Soros, Trump's, Scott Spratt, Donald Trump, Brandon Bell Organizations: National Conservative Conference, Washington D.C, Afp, Getty Images, U.S, Treasury, Treasury Department, Connecticut, Key Square, Trump, Hargreaves, China News Service, US, Rabobank, Trump's Treasury, Societe Generale Corporate, Investment Banking, Asia FX, SpaceX, Via Reuters Locations: Washington, London, Xinfeng County, Ganzhou City, Jiangxi Province, China, U.S, Mexico, Treasuries, Brownsville , Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMcCarthy: Online sales will surpass physical store sales on Black Friday. Brian McCarthy, Retail Strategy and Business Transformation leader at Deloitte Consulting, discusses the holiday shopping season. He notes a 15% increase in spending between Black Friday and Cyber Monday, driven by a shorter shopping period and improved consumer sentiment.
Persons: McCarthy, Brian McCarthy Organizations: Business, Deloitte Consulting, Black
AdvertisementNowThis laid off about half its unionized newsroom, marking the second deep round of cuts this year. A softness in digital advertising has led to widespread media layoffs in recent years. NowThis recently laid off about half its unionized newsroom, the second round of deep cuts this year at the progressive digital news outlet. The layoffs impacted 13 of NowThis' 21 members of WGA East, which represents the newsroom, a union representative told Business Insider. It joined Vox Media through Vox's 2021 acquisition of Group Nine Media.
Persons: NowThis, Michael Vito Valentino, Vox, George Soros Organizations: WGA, Business, Fallen Media, MTV, Vox Media, Group Nine Media, Open Society, Democratic, Noticias Para Inmigrantes Locations: NowThis
The Pre-Market Rundown: November 25, 2024
  + stars: | 2024-11-25 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNews Update – Pre-MarketsCNBC brings you fast, accurate, and actionable business news and market updates.
Organizations: CNBC
AdvertisementLate YouTube CEO Susan Wojcicki wrote a blog post weeks before her death about her cancer diagnosis. She was diagnosed in late 2022, with non-small cell lung cancer, the most common form of lung cancer. Women, whose highest cause of cancer death is lung cancer (as opposed to breast cancer) might also be unaware of the risk factors. Lung cancer research is underfundedSinghi said Wojcicki's blog post is an important rallying cry. It's "wild" to him that lung cancer is so under-researched, given that it's also the biggest cause of cancer death worldwide.
Persons: Susan Wojcicki, Wojcicki, Katie Williams, Dennis Troper, Larry Page, Sergey Brin, Eric Singhi, Singhi, Lung, it's Organizations: YouTube, Lung Cancer, Cancer, Environmental Defense Fund, American Lung Association
Post Market Wrap: November 25, 2024
  + stars: | 2024-11-25 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNews Update – Market CloseCNBC brings you fast, accurate, and actionable business news and market updates.
Organizations: CNBC
Gabbard and another contentious Trump pick — Pete Hegseth, who has been tapped to lead the Defense Department — came under sharpened scrutiny Sunday as the spotlight shifted from Matt Gaetz, Trump’s toppled choice to be attorney general. Trump’s pick of Hegseth is also facing uncertainty after the release last week of a 2017 police report detailing an alleged sexual assault in California. But the withdrawal of Gaetz — who was already widely disliked in Congress — may leave senators feeling they owe the president-elect on his other highly controversial choices. Trump’s new selection for attorney general, Pam Bondi, is meanwhile being welcomed by many Republicans, suggesting she’ll have an easier path to confirmation than Gaetz. But that would still leave the question of who is acceptable to Trump while being confirmable in the Senate.
Persons: Donald Trump’s, Tulsi Gabbard, Pete Hegseth, Defense Department —, Matt Gaetz, Trump’s, ” Democratic Sen, Tammy Duckworth, Bashar al, Assad, she’s, Republican Sen, Markwayne Mullin, Dana Bash, Duckworth, Gaetz —, Pam Bondi, general’s, , Russell Vought, Trump, Tesla, Elon Musk, Vivek Ramaswamy, Scott Bessent, Howard Lutnick, Cantor Fitzgerald, They’ll, Mike Waltz, ” Trump, Vladimir Putin’s, , he’s, Julian Assange, Edward Snowden, Gabbard, ” Sen, Adam Schiff of California, Gabbard’s, Mullin, , ” Missouri Sen, Eric Schmitt, Tennessee Sen, Bill Hagerty, she’d, Hagerty, ” Oklahoma’s, James Lankford, Bashar, Lankford, Bondi, We’re, ’ ” Lankford, Christopher Wray, Kash Patel, Patel, Trump’s MAGA, CNN’s Kaitlan Collins, ” Patel Organizations: CNN, Trump, Defense Department, CNN’s, Union, ” Democratic, Republican, Fox News, Justice Department, Management, GOP, Treasury, “ Fox, Florida Republican, Electoral College, Senate, Democratic, US, Transportation, Trump’s “, House Intelligence, Press, Oklahoma Republican, Army, , NBC, ABC, , intel, CNN Bondi, of Justice, FBI, Fox Business, Department of Justice Locations: CNN’s “ State, The Illinois, Washington, California, Florida, Ukraine, Moscow, Russia, Hawaii, Syria, Russian, Duckworth, “ State, Oklahoma and Missouri, ” Missouri, Japan, United States, Lago
AdvertisementThe last meatpackers in NYC's Meatpacking District are getting ready to close shop. The era of New York City's Meatpacking District as a neighborhood where people actually pack meat is coming to an end. A section of the Meatpacking District in 1929. AdvertisementShoppers wait in line for a sample sale in the Meatpacking District in 2024. "It wasn't always a meatpacking district," Andrew Berman, the executive director at historic preservation group Village Preservation, told the AP.
Persons: NYC's, Eric Adams, there's, hasn't, State Sen, Brad Hoylman, didn't, John Jobbagy, Jobbagy, Julia Demaree Nikhinson Jobbagy, he's, Samantha Jones, It's, amNY, Andrew Berman, it's, Berman Organizations: New York City, Associated Press, . New York City Municipal Archives, AP, State, Village, Community, Gucci, Rolex, New York City Municipal Archives, Preservation Locations: NYC's Meatpacking, Greenwich Village, York, New York, Manhattan, Meatpacking, . New York City, Meatpacking District, City of New York, Budapest, New York City
Comparable sales for its owned and licensed businesses, plus its online marketplace, dropped 1.3%. Macy's said it found "an issue related to delivery expenses in one of its accrual accounts" while preparing its quarterly results. At Bloomingdale's, comparable sales climbed 3.2% on an owned-plus-licensed basis, including the third-party marketplace. And Bluemercury comparable sales increased 3.3%, marking the 15th consecutive quarter of comparable sales growth for the beauty brand. At the Macy's stores that will remain open, comparable sales were down 0.9% on an owned-plus-licensed basis, including the third-party marketplace.
Persons: Macy's, Tony Spring Organizations: Inc, Macy's Media Network Locations: Bloomingdale's
U.S. Treasury yields were lower on Monday as investors weighed President-elect Donald Trump's Treasury secretary pick and eyed a key inflation reading due later in the week. Trump's choice of hedge fund executive Scott Bessent as Treasury secretary has calmed investors' nerves about the future of the U.S. economy. Bessent, the founder of Key Square Group, is expected to back the incoming president's economic goals including gradual tariffs and pro-business policies. However, as an old Wall Street hand and a fiscal conservative, investors believe Bessent will prioritize stability in the U.S. economy and markets. Also in focus this week are some key data points due ahead of a shortened trading week.
Persons: Donald Trump's, Scott Bessent, Kit Juckes, Trump, Bessent, Dow Jones Organizations: Treasury, U.S, Key Square, Societe Generale, CNBC, Federal, U.S . Federal Locations: U.S, U.S .
The software company behind Starbucks' payment and scheduling system has been experiencing a dayslong ransomware attack, causing outages that are disrupting employee pay. The attack on Blue Yonder, the company that makes the software, began on November 21 and has caused outages in Starbucks's system for tracking employee hours and payments. Starbucks told its employees that payment for the period ending on November 17 would be unaffected, but there may be discrepancies in the following pay period. The outage has forced employees to track their shifts using pens and paper, according to Bloomberg. The software company does not currently have a timeline for resolution of the issue, according to a webpage the company has published for customers impacted by the attack.
Organizations: Starbucks, Business Insider, Bloomberg, BI, Business, CNN, Sony Locations: America
You may not know it by looking at sticker prices in grocery aisles, but Thanksgiving dinner is more affordable than it has been in years. “If your dollar had the same overall purchasing power as a consumer in 1984 … this would be the least expensive Thanksgiving meal in the 39-year history of the AFBF Thanksgiving survey, other than the outlier of 2020,” the authors wrote. Target is offering a $20 Thanksgiving meal for four, including a small turkey, canned vegetables and stovetop stuffing mix. Walmart is promoting an “inflation-free Thanksgiving” meal of 29 items that can serve eight people for $56. “Don’t be afraid to check out multiple retailers.”Some Thanksgiving meal packages offer more ingredients, but that could mean preparing more dishes from scratch.
Persons: TJ Maxx, , Robin Wenzel, “ Don’t, ” Wenzel Organizations: American Farm Bureau Federation, , Walmart, TJ, Target, Aldi, Food Institute, Wells Fargo’s, Consumer Locations: U.S, ” Turkey, Wells, West
Many families have been effectively cutting a second rent check to send their kids to day care, according to new data from the Department of Labor. On average, families spent anywhere from $6,552 to as much as $15,600 on full-day care per child in 2022, the latest year with available data. While incomes also range widely throughout the country, households typically funnel between about 9% and 16% of their annual income on day care per child. But while child care costs help explain Americans’ economic dissatisfaction, an NBC News analysis of the Labor Department and election result data also hints at the limits of the issue politically. The most forbidding child care markets in 2022 voted two years later for Trump by higher margins than the nation overall, but so did many of the areas where child care was more affordable.
Persons: It’s, Gretchen Livingston, , Donald Trump Organizations: Department of Labor, U.S . Department of Labor, Bureau, Labor Department’s Women’s, NBC, Labor Department, NBC News, Trump Locations: U.S
WASHINGTON — When Matt Gaetz abruptly withdrew as President-elect Donald Trump’s candidate for attorney general on Thursday, many career attorneys in the Justice Department breathed a sigh of relief. 2 position at the department — Todd Blanche, the president-elect’s defense lawyer — can help protect the department’s career civil servants from Trump’s wrath. Greg Nash / Pool via Getty ImagesHow Trump’s first deputy attorney general faredWhen Trump first took office in 2017, he didn’t know his deputy attorney general well, and their relationship immediately became vital and volatile. But that immunity does not extend to the attorney general, deputy attorney general or other DOJ prosecutors. “If I were he, I would have stayed as far away from the Justice Department as I could.
Persons: WASHINGTON, Matt Gaetz, Donald Trump’s, Trump, Pam Bondi, , Donald Trump, Todd Blanche, , Blanche, , Gaetz, ” Donald Trump, Emil Bove, Mark Peterson, Trump Blanche, Daniels, Attorney Alvin Bragg, Taft, Karoline Leavitt, Vance, Blanche won’t, Blanche —, he’s, ” Mimi Rocah, she’d, ” Rocah, Michael Bromwich, we’ve, ” Bromwich, Rod Rosenstein, Greg Nash, Trump’s, didn’t, Robert Mueller, James Comey, Jeff Sessions, Sessions, Rosenstein, Mueller, ” Rosenstein, ” “, ’ ” Rosenstein, ” Blanche Organizations: Justice Department, , Department, of, Trump, Manhattan Criminal, Manhattan, Attorney, NBC News, White House, DOJ, Justice, MSNBC, Department of Justice, Russia, White, Locations: Florida, Southern, York, New York City, Cadwalader, Wickersham, Washington, Westchester County , New York, New York, , U.S, Moscow, Bromwich
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