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☆ ¿Cuánto depende EE. UU. de los aguacates de México?
▼ + stars: | 2024-07-03 | by ( Danielle Kaye | ) www.nytimes.com time to read: 1 min

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☆ Judge Backs Challenge to F.T.C.’s Noncompete Ban, at Least for Now
▼ + stars: | 2024-07-03 | by ( Danielle Kaye | ) www.nytimes.com time to read: 1 min

A federal judge on Wednesday backed an initial legal challenge to the Federal Trade Commission’s ban on noncompete agreements, which is scheduled to take effect in September. Judge Ada Brown granted an injunction requested by several plaintiffs, saying the ban cannot be enforced against them pending a final ruling. But while the ruling is preliminary, she said that the F.T.C. lacked “substantive rule-making authority” with respect to unfair methods of competition and that the plaintiffs were “likely to succeed on the merits” of their challenge. Judge Brown, of U.S. District Court for the Northern District of Texas, said she expected to issue a final decision by the end of August.

Persons: Judge Ada Brown, Judge Brown Organizations: Federal Trade, Northern, Northern District of Locations: U.S, Northern District, Northern District of Texas

☆ After France's right-wing surge, parties seen scrambling to block a National Rally win
▼ + stars: | 2024-07-01 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Left-wing and centrist parties in France are scrambling to block the rival National Rally from winning the ongoing parliamentary election, according to analysts, after support for the far-right faction surged in the first electoral round on Sunday. Figures posted on Monday morning by the French Interior Ministry showed that the far-right National Rally (RN) and its allies had secured a combined 33.1% of votes, while the left-wing New Popular Front (NFP) alliance won 28% and French President Emmanual Macron's centrist Together bloc garnered 20%. The outcome of the first round of the election has led to discussions from left-wing and centrist politicians about how to minimize the amount of parliamentary seats secured by the RN in the second round of voting on July 7. "Our objective is clear: to prevent the National Rally from having an absolute majority in the second round, from dominating the National Assembly and from governing the country with the disastrous project that it has," French Prime Minister Gabriel Attal, a Macron ally, wrote on social media platform X late on Sunday according to a CNBC translation. "I say it with the force that the moment demands to each of our voters: not a single vote must go to the National Rally," he added.

Persons: Danielle Simonnet, NUPES, LFI, Celine Verzeletti, Jean Luc Melenchon, Emmanual, Gabriel Attal Organizations: La France, National Rally, French Interior Ministry, Front, National Assembly, CNBC, National Locations: Paris, France

☆ Ozy Media Founder Takes the Stand to Deny Fraud Allegations
▼ + stars: | 2024-07-01 | by ( Danielle Kaye | ) www.nytimes.com time to read: 1 min

Carlos Watson, a co-founder of the digital media start-up Ozy Media, testified on Monday at his fraud trial that he had not conspired to trick investors. Instead, he said, his young media company employed strategies to build partnerships, secure advertising revenue and draw in investors. “We really thought we had a chance to do something special that could be around a long time,” Mr. Watson told the jury. Mr. Watson’s testimony is the center of his defense against charges that he misrepresented his company’s financial results, fund-raising and audience data to investors and lenders from 2018 to 2021. The prosecution has called a variety of witnesses, including prospective investors who testified that Mr. Watson had misled them about the company in an attempt to secure funding.

Persons: Carlos Watson, “, ” Mr, Watson Organizations: Ozy Media

☆ BET Awards 2024: See who won
▼ + stars: | 2024-06-30 | by ( Dan Heching | ) edition.cnn.com time to read: +5 min

CNN —The BET Awards kicked off on Sunday night with an electric performance by the one and only Megan Thee Stallion. The event, hosted by Taraji P. Henson, celebrates the best in Black entertainment, across music, film, television and sports. Nicki Minaj follows closely with six nods, including album of the ear for “Pink Friday 2,” best female hip-hop artist two best collaboration nominations, one with Lil Uzi Vert on “Everybody” and another for “Barbie World” with Ice Spice and Aqua. Will Smith, Lauryn Hill and Childish Gambino are among the scheduled performers.. ET on Sunday on BET and BET.com.

Persons: Megan Thee Stallion, Taraji P, Henson, Drake, ”, J, Cole, “ Rich, Daddy, Nicki Minaj, Lil Uzi, “, Will Smith, Lauryn Hill, Childish Gambino, Usher, Chris Brown, Victoria Monét Michael, Mike Pink, Beyoncé Coco Jones, Muni, Brent Faiyaz Bryson Tiller, Chris Brown Drake, London Usher, Ty Dolla, Lil Wayne, FLO, Lil Durk, Cole “, Kendrick Lamar “, Megan Thee, Rich, Lola Brooke, Latto, Yung Miami, Uzi, Summer Walker, Savage, Daddy ”, Sexyy, Cardi, Gunna J, Cole Kendrick Lamar Lil Wayne, Cole “ Barbie, ” – Drake, ” – Usher, Monét, Boom Child, Cole Bennett Dave Meyers Janelle Monáe, Alan Ferguson, Tyler, 4Batz Ayra Starr, Dlow, BOBBY JONES, Shirley Caesar “, Kirk Franklin, Angel ”, Halle Bailey “, CeCe Winans, Erica Campbell, Naomi Raine, Chandler Moore, Jack Harlow “, Davido, Lojay, Aya Nakamura, Ayra Starr, Cleo Sol, Karol Conká, RAYE, Holly G, Seyi, Tasha Cobbs Leonard, Missy Elliott “ Hiss, Bob Marley, Beyoncé ”, Clarence ” “, Anthony Mackie Colman Domingo Damson Idris Denzel Washington Donald Glover Idris Elba Jeffrey Wright, Stanfield, Angela Bassett Ayo Edebiri Coco Jones Danielle Brooks Fantasia Halle Bailey Issa Rae Regina King YOUNGSTARS, Akira Akbar Blue Ivy Carter Demi Singleton, Diana Harris JaBria, Jalyn, Leah Jeffries Van Van, Wilson Angel Reese Coco Gauff Flau’jae Johnson Juju Watkins Naomi Osaka Sha’Carri Richardson Simone, Anthony Edwards Gervonta Davis Jalen Brunson, Irving LeBron James Patrick Mahomes Stephen Curry Organizations: CNN, BET, “, Spice, Kanye, BEST, OF, BOBBY JONES BEST, Maverick City, ACT, BK ’ Locations: London, Texas, Africa, France, Brazil, Tyla, Jungeli, Makhadzi

☆ How Nathan’s Famous turned competitive eating into a national spectacle
▼ + stars: | 2024-06-29 | by ( Elise Hammond | Danielle Wiener-Bronner | ) edition.cnn.com time to read: +11 min

Each year, close to two million people watch Nathan’s hot dog eating contest on ESPN, according to the frankfurter brand. Boys participating in a pie eating contest at the 4-H Club fair in Cimarron, Kansas. At the time, PR mavens Max Rosey and Mortimer Matz thought a hot dog eating competition would drum up some publicity for Nathan’s. (They also seem to have made up the legend that the first Nathan’s contest was held in 1916). “We love the Nathan’s hot dog eating competition because we love how it brings the city together,” Fellman said, standing with a group of her friends, all wearing Nathan’s hot dog eating contest T-shirts.

Persons: Jacqueline Lewis, ” Lewis, franks, frankfurter, Joey Chestnut, Apuleius ’, ”, Jason Fagone, Fagone, “, ” Fagone, Corbis, Adrienne Bitar, Max Rosey, Mortimer Matz, Melody Andorfer, George, Richard Shea, George Shea, —, Shea, Rosey, ” George Shea, Henry S, Dziekan, it’s, ” Shea, ’ ” Shea, Takeru Kobayashi, Kobayashi, Kazutoyo Arai, Spencer Platt, ” Bitar, ” Kobayashi, Bitar, you’re, ’, Kena Betancur, ” Beatrice Fellman, ” Fellman, Bass Organizations: New, New York CNN, CNN, ESPN, Boys, Cornell University, “, Nathan’s, League, LA Times, Netflix Locations: New York, Coney Island, Coney, United States, Pennsylvania, Cimarron , Kansas, “, Long, New York City, Japan, Brooklyn , NY, America, Brooklyn, Kena

Did Thursday’s debate change voters’ minds about who should be president? Times Opinion asked our columnists and contributors to weigh in on who won and lost last night, and we’ve asked our readers to do the same. “If the purpose was to talk policy and answer the moderators’ questions, Biden won. “Is this seriously the best we have? A convicted felon and an old guy who has a bad cold and looks exhausted?” asked Danielle Aiko Werts of Socorro, N.M. “Who let this go forward?

Persons: we’ve, Biden, Trump, ”, Travis Brodbeck, Donald Trump, Danielle Aiko Werts, “ Locations: Scotia, “, Socorro, N.M

☆ Wimbledon 2024 storylines: Djokovic’s knee, Iga Swiatek on grass, Hawk-Eye challenges
▼ + stars: | 2024-06-27 | by ( Charlie Eccleshare | Matthew Futterman | ) www.nytimes.com time to read: +19 min

Is Iga Swiatek going to make her move on grass and further cement her position as the player to beat across the WTA? Probably not, since that meniscus belongs to one Novak Djokovic, the seven-time Wimbledon champion and the world’s best grass-court player. Then he showed up in London this week and started testing out the knee with practice sessions on the grass. Charlie EccleshareWill Swiatek win her first Wimbledon title? She’s never been past the quarterfinals at Wimbledon and her game isn’t a natural fit on the grass.

Persons: Novak, Matt Futterman, Charlie Eccleshare, Will Novak Djokovic, Novak Djokovic, Djokovic, Casper Ruud, Clive Brunskill, Carlos Alcaraz, Alcaraz, Daniil Medvedev, Felix Auger, Frenchman Arthur Fils, Andy Murray’s, Murray, Jack Draper, Shaun Botterill, Tim Henman’s, Draper, Charlie Eccleshare Will Swiatek, Iga, She’s, Roland Garros, Emma Raducanu, Katie Boulter, Harriet Dart, it’s Boulter, Sloane Stephens, Jessica Pegula, don’t, Boulter, Raducanu, Stephens, Jonathan Nackstrand, Hannah Klugman, Agassi, Serena, Venus Williams, It’s, Coco Gauff, Aryna, she’s, Swiatek, Gauff, Daniel Leal, Pegula, Marketa Vondrousova, Danielle Collins, Tommy Paul, Paul, Sebastian Korda, Korda, Taylor Fritz, Ben Shelton, there’s, Sally Bolton, John Walton, —, Wimbledon Charlie Eccleshare Will, Princess Catherine of Wales, Roger Federer, Rob Newell, CameraSport, Sebastian Bozon, Greece’s Stefanos Tsitsipas, Murray didn’t, ”, Jelena Ostapenko, “, Glyn Kirk Organizations: Wimbledon, WTA, Olympic Games, Court, Djokovic, England Club, British, Queen’s, London, Paris, Rothesay International, Nottingham, Eastbourne, Getty, Orange, Sampras, Wimbledon —, Swiatek, Alycia Parks, Queen’s Club, All England, U.S, All England Club, U.S ., Athletic Locations: Paris, London, Canada, SW19, Stuttgart, Warsaw, Rothesay, Eastbourne, Britain, Nottingham, Great Britain, AFP, Alycia Parks, British, Florida, American, Australia, France, Berlin, Wimbleson, Alycia, Israel, Palestine, there’s

☆ Walgreens Plans ‘Significant’ Store Closures, Citing Weak Consumer Spending
▼ + stars: | 2024-06-27 | by ( Danielle Kaye | ) www.nytimes.com time to read: +1 min

The pharmacy chain also cut its profit outlook for the year, citing worse-than-expected consumer spending. “We witness continued pressure on the U.S. consumer,” Tim Wentworth, the chief executive of Walgreens Boots Alliance, told investors during an earnings call on Thursday. “Our customers have become increasingly selective and price-sensitive in their purchases.”As of February, Walgreens has closed 625 U.S. stores. The company did not specify how many additional stores it would close as part of its “significant multiyear” program to cut back on costs. But roughly a quarter of the pharmacy chain’s U.S. stores — those that the company doesn’t see as crucial to its long-term strategy — could be affected, Mr. Wentworth said.

Persons: “, Tim Wentworth, Wentworth Organizations: Walgreens, Walgreens Boots Alliance Locations: United States

☆ Buyers shifting towards more expensive homes, Realtor.com's Danielle Hale
▼ + stars: | 2024-06-26 | 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 EmailBuyers shifting towards more expensive homes, Realtor.com's Danielle HaleDanielle Hale, chief economist at Realtor.com, joins CNBC's 'Squawk Box' to discuss why home prices are at record highs, market trends, and more.

Persons: Danielle Hale Danielle Hale

☆ Opinion | Patients Stunned by Their Medical Bills
▼ + stars: | 2024-06-25 | by ( ) www.nytimes.com time to read: +1 min

How Much Could It Cost?,” by Danielle Ofri (Opinion guest essay, June 18):As a retired cardiologist, I have been railing against facility fees for years. These are significant fees (sometimes thousands of dollars) added to your doctor’s typical charges when they are employed by a hospital system, as many are these days. The rationale from the hospital or health care system, as Dr. Ofri stated, is nonsense; it is simply a way to make more money. It works like this: You see your private cardiologist in their office and have a stress test and get charged $500. The doctor usually has no idea this additional fee is being added, and the hospital system pockets the money.

Persons: Ray, Danielle Ofri, Ofri, Michael Marek Aspen Locations: Colo

☆ Affordable luxury: Price-conscious Americans are turning to cheaper steakhouses
▼ + stars: | 2024-06-24 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

So business is booming at Texas Roadhouse and LongHorn Steakhouse, even as Americans pull back elsewhere. And in the three months through May 26, sales at Longhorn Steakhouse locations open at least 16 months rose 4%. An affordable luxuryWhen it comes to steakhouses, Texas Roadhouse and LongHorn Steakhouse are on the cheaper end, noted Jim Salera, a research analyst at Stephens. Patrons sit at a bar and watch sports at a Texas Roadhouse restaurant in November 2023. “Retail demand has been probably a little bit weaker,” said Michael Bailen, senior director of investor relations at Texas Roadhouse.

Persons: Texas, ”, Jim Salera, Salera, you’re, Peter Saleh, They’ve, Scott Olson, Saleh, Rick Cardenas, It’s, Michael Bailen, ” Bailen, “, ’ Organizations: New, New York CNN, Texas, Texas Roadhouse, LongHorn, Longhorn, Darden Restaurants, steakhouses , Texas Roadhouse, Stephens, of America, CNN, Bureau of Labor Statistics, Kroger Locations: New York, Texas, Olive, steakhouses , Texas, Skokie , Illinois, . Texas

☆ Hooters closes dozens of restaurants
▼ + stars: | 2024-06-24 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Hooters is the latest chain to close dozens of locations across the United States, blaming tough economic challenges including rising food and labor costs. “Like many restaurants under pressure from current market conditions, Hooters has made the difficult decision to close a select number of underperforming stores,” a spokesperson told CNN. In that time prices ticked up 0.2% at limited service spots, which include fast casual and fast food joints. The increases, particularly in fast food prices, have caused customers to pull back on spending and complain online, eroding the sector’s reputation for affordability. It’s not just Hooters feeling the financial brunt from cash-conscious customers: Applebee’s, TGI Fridays, Boston Market, California Pizza Kitchen and bankrupt Red Lobster have all recently closed restaurants.

Persons: Danielle Wiener, Bronner Organizations: New, New York CNN, Hooters, CNN, Bureau of Labor Statistics, Boston Locations: New York, United States, Florida , Kentucky, Rhode Island , Texas, Virginia, Boston Market, California

☆ These are the least difficult areas in U.S. to buy a home: NBC News Home Buyer Index
▼ + stars: | 2024-06-23 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

10'000 Hours | Digitalvision | Getty ImagesThere are areas in the U.S. that are considered to be the least difficult places to buy a home, according to a new real estate indicator. When the counties are sorted by index rank, Iroquois County, Illinois is the least difficult market to buy a home, according to the NBC News Home Buyer Index. Economic Instability: Macon County, Tennessee has the most stable local economy among measured areas. And finally, economic instability considers an area's market volatility, unemployment levels and interest rates. The NBC News Home Buyer Index was developed by NBC News alongside housing experts, such as a real estate industry analyst and a bank economist from the Federal Reserve Bank of Atlanta.

Persons: Joe Murphy, —, Murphy, Danielle Hale, Jacob Channel, Hale Organizations: NBC, U.S ., Finance, NBC News, Federal Reserve Bank of Atlanta, U.S . Department of Housing, Urban Development, . Census, Federal, Fed, who've Locations: U.S, Iroquois County , Illinois, Somervell County , Texas, Imperial County , California, Macon County , Tennessee

☆ How to become an influencer and start making money
▼ + stars: | 2024-06-21 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +13 min

Maesha Shonar, a micro influencer with 24,000 followers on Instagram, previously told BI she had such a highly engaged audience. Take a look at new data on influencer brand deals in 2024Platforms also pay creators based on their video views and engagement. Read more about how TikTokers can score huge paydays for longer videosOn Snapchat, creators have had success making money from its ad-revenue program. Related storiesAffiliate marketing is another popular way to make money after becoming an influencer. Nino de Guzman said she launched the app to help show others how easy it was to become an influencer and make money from social media.

Persons: —, Ayomi Samaraweera, Samaraweera, Nadya Okamoto, influencers, Stacy Kim, Maesha, Instagram, Nate White, I've, MrBeast, Read, videographer Tej Patel, AJ, Grey, influencer Janesha Moore, Moore, makeups, Paulina Perez, she's, Perez, Slack, Lissette Calveiro, Christen Nino de Guzman's Clara, Nino de Guzman, Christen Nino De Guzman, Alix Earle ., Kensington, that's, Danielle Pistotnik, publicists Organizations: Service, YouTube, Business, Samsung, Verizon, Amazon, Brand, UTA, CAA, Management Locations: California

☆ Nvidia pullback may 'bleed into' other stocks, says Simpler Trading's Danielle Shay
▼ + stars: | 2024-06-21 | 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 EmailNvidia pullback may 'bleed into' other stocks, says Simpler Trading's Danielle ShayDanielle Shay, vice president of options at Simpler Trading, joins CNBC's 'The Exchange' to discuss signals of a tech pullback, what to watch for, and more.

Persons: Danielle Shay Danielle Shay

☆ Why Olive Garden doesn’t want to give discounts
▼ + stars: | 2024-06-20 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

But Olive Garden is holding out. In the quarter ending on May 26, sales at Olive Garden restaurants open at least 16 months dropped 1.5%. Olive Garden has tried to avoid such pushback by keeping its price increases low. “While Olive Garden same restaurant sales were below the industry, same-restaurant guest counts outperformed the industry,” Vennam said. “The way we do it is more sustainable.”Rather than vie for customers with steep discounts, Olive Garden is planning to bring people in by highlighting its regular offerings.

Persons: they’ve, Olive, “ We’re, ”, Rick Cardenas, Olive Garden, Cardenas, Raj Vennam, ” Vennam, Eddie V’s, David Henkes, Technomic, ” Cardenas Organizations: New, New York CNN, Darden, Olive Garden, Olive, LongHorn, Bureau of Labor Statistics, CNN Locations: New York, Applebee’s, Olive Garden’s, Olive

☆ AI could become a lawyer's greatest help in the courtroom
▼ + stars: | 2024-06-20 | by ( Matthew S. Smith | ) www.businessinsider.com time to read: +8 min

Courtesy of Danielle BeneckeA lawyer's copilotFounded in 1949, Baker McKenzie has over 6,500 lawyers working in 70 offices worldwide. The firm's work building generative AI to produce legal draft advice for high-volume employment-law questions recently won an award from Law.com. Courtesy of Jake HellerAI won't replace lawyersThere's another fear likely to push lawyers toward AI: other lawyers. Lawyers might also turn to AI to address a force meant to tame AI: regulation. "I think in three to five years, not using AI for legal work will be tantamount to refusing to use online search for legal work today," Ziniti said.

Persons: Michael Cohen, Donald Trump, Cohen, isn't, Danielle Benecke, Baker McKenzie, Benecke, Cecilia Ziniti, It's, copilot, Ziniti, Cecilia Ziniti Ziniti, CoCounsel, CoCounsel isn't, Jake Heller, Thomson, Heller, they'd, it's Organizations: Google, Law.com, Federal Trade Commission, Microsoft, AI's, IBM, CoCounsel, Thomson Reuters, Times, American Bar Association

☆ New Home Construction Slows as Mortgage Rates Remain High
▼ + stars: | 2024-06-20 | by ( Danielle Kaye | ) www.nytimes.com time to read: +1 min

Construction of new homes in the United States dropped below expectations in May as builders pull back on new residential projects largely in response to high interest rates, reinforcing concerns about stubbornly high housing prices. Government data released on Thursday showed that new-home construction, or housing starts, fell 5.5 percent last month to an annualized rate of 1.28 million, a sign of more cracks in the already shaky housing market. Slower construction of both single-family and multifamily homes contributed to the overall drop. Building permits dipped 3.8 percent, pointing to less future construction. The magnitude of the decrease in construction last month underscores that high interest rates are both weakening housing demand and raising costs for builders — two dynamics that are ultimately contributing to builders’ reluctance to start projects.

Persons: Freddie Mac, Daniel Vielhaber Organizations: Nationwide Locations: United States

☆ These groups help people of color and the LGBTQ+ community find a ‘radically inclusive space’ in the outdoors
▼ + stars: | 2024-06-19 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +7 min

Participants during the snowboarding activity with the Hoods to Woods Foundation at Big Snow American Dream in East Rutherford, New Jersey on June 13, 2024. "It keeps me out of the house," Gibson told CNBC from a lounge room in the Big Snow complex. Participants during the snowboarding activity with the Hoods to Woods Foundation at Big Snow American Dream in East Rutherford, New Jersey on June 13, 2024. The group also accepts donations of gear or gifts, while Big Snow has lent its facilities at no charge to the nonprofit for years. Through Hoods to Woods, Diaz, Paupaw and their volunteers have built many relationships with their participants.

Persons: Danielle DeVries, Gibson, Woods, Omar Diaz, Diaz, Brian Paupaw, Sebastian, Veronica Vogelman, Paupaw, Big Snow, Annette Diggs, Ciera Young, Zyshawn Gibson, Tah'gee Van Dunk, Abby Crisostomo, Crisostomo Organizations: Foundation, Big, CNBC EAST RUTHERFORD, Woods Foundation, CNBC, Snowsports Industries, National Ski Areas, Edge, Unlikely Riders Locations: East Rutherford , New Jersey, N.J, New York, New Jersey, United States, Paupaw, Woods, Washington, , Vermont

☆ Social media has gotten so bad that America's top doctor is intervening
▼ + stars: | 2024-06-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the surgeon general suggesting warning labels for social media . The big storyA solution for socialsAnna Moneymaker/Getty Images; Chesnot/Getty Images; Chelsea Jia Feng/BISocial media has gotten so bad that the country's top doctor is intervening. AdvertisementIn his piece, Murthy said social media is a key culprit of the mental health crisis young people are facing. Generative AI adds more fuel to the misinformation fire social media platforms have been battling for years. Many of them are making fast use of social media platforms like TikTok and investing heavily in AI.

Persons: —, Anna Moneymaker, Chelsea Jia Feng, Vivek Murthy, Geoff Weiss, Murthy, It's, Katie Notopoulos, isn't, Adam Kovacevich, Dan Whateley, Mark Zuckerberg, Zuckerberg, Danielle DiMartino Booth, Instagram, Larry Fink, Dave Calhoun, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith, Amanda Yen Organizations: Service, Business, US, The New York Times, of Progress, Getty, Meta, Bank of America, AIM, Apple, Apple Watch, Adobe, Justice, Marketing's, District of Columbia, DC, Boeing Locations: China, Schonfeld, New York, London

☆ Wall Street is turning more bullish
▼ + stars: | 2024-06-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —It’s tough being a Wall Street bear these days. The S&P 500 index has climbed nearly 15% this year and clinched 30 record-high closes. The new backdrop of cooling inflation coupled with rate cuts on the horizon is prompting investors to up their bullish wagers. Evercore ISI raised its price target to 6,000 for the S&P 500, a reversal from its previous, more gloomy 4,750 target. Much of the S&P 500 index’s returns are tied to the mega-cap tech Magnificent Seven stocks, leaving the market dependent on just a handful of names to continue its monster run.

Persons: New York CNN —, Goldman Sachs, ”, Julian Emanuel, index’s, Bacon, Danielle Wiener, Bronner, fuming, Jin Bian, Samantha Delouya, Bian, “, Ron DeSantis, isn’t, Bill 264, Sellers, Read Organizations: CNN Business, Bell, New York CNN, Federal Reserve, ISI, Evercore ISI, Shoppers, Bureau of Labor Statistics, CNN Locations: New York, Monday’s, Florida, Tampa , Florida, Nanjing, China

☆ E.V. Maker Fisker Files for Bankruptcy as Cash Runs Short
▼ + stars: | 2024-06-18 | by ( Danielle Kaye | More About Danielle Kaye | ) www.nytimes.com time to read: +1 min

Fisker filed for bankruptcy protection late on Monday, the latest start-up in the electric vehicle industry to fall short after raising large amounts of money from investors with lofty expectations. Fisker’s bankruptcy filing, roughly one year after it delivered its first vehicle and almost four years after it went public, came after months of doubts about its financial viability. The start-up repeatedly cut production targets for its flagship Ocean S.U.V. Talks with another automaker about a potential investment broke down earlier this year, and the company’s beaten-down stock, once worth several billion dollars, was delisted from the New York Stock Exchange for “abnormally low” price levels. It outsourced production and emphasized its design and software, such as a rotating dashboard screen.

Persons: Fisker Organizations: New York Stock Exchange

☆ The strange economics of pig meat: Ham prices are down, but bacon’s up
▼ + stars: | 2024-06-17 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

New York CNN —Shoppers in the meat aisle may have noticed something weird last month: Bacon prices are sizzling, but ham’s not so hot. But ham prices were lower, falling 5.4% overall and dropping 6.3% when you exclude canned varieties. It’s all relativeGlynn Tonsor, a professor in the department of agriculture economics at Kansas State University suggests that if you zoom out, pork prices are indeed going up across the board. But prices for ham actually went up higher than the prices of bacon and pork chops. Scott Olson/Getty Images/FilePeople love baconAnother reason for high bacon prices: Strong demand, even when it’s expensive.

Persons: Bacon, Glynn Tonsor, ” Tonsor, Scott Olson, ”, Christine McCracken, They’re, you’ll, It’s, McCracken, “ You’ll Organizations: New, New York CNN, Shoppers, Bureau of Labor Statistics, Kansas State University, Federal Reserve, St, RaboBank, Retailers, KFC, Starbucks Locations: New York, Louis, Mexico, “, Chicago , Illinois, Burger King

☆ The US economy is headed into a corporate bankruptcy cycle that will spike unemployment, veteran forecaster says
▼ + stars: | 2024-06-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Booth predicted that the number of large bankruptcies would climb to 25 by the end of June, surpassing the peak of large corporate bankruptcy filings during the pandemic. "When you have these large bankruptcies, liquidations, and what have you, you do have a loss of income. Meanwhile, the economy has lost around a million full time workers over the last 12 months, Booth noted. 10% of small business owners said labor costs were their "single most important problem," according to the latest Small Business Optimism Index. Booth has previously argued that the economy is already in a recession due to weakness in the labor market.

Persons: —, Danielle DiMartino Booth, bankrupcies, Booth, David Lin, Gray Organizations: Service, QI, P, Business, Companies, Challenger Locations: America

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