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☆ ‘I have become traumatized.’ Jewish students describe campus antisemitism
▼ + stars: | 2024-02-29 | by ( Matt Egan | Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

New York CNN —Jewish students at major universities told lawmakers on Thursday they feel unsafe on campus amid a surge in antisemitism. At a roundtable hosted by the House Education and Workforce Committee, students from Columbia University, the Massachusetts Institute of Technology and other schools described hearing violent chants on campus and complained administrators are not doing enough to fight antisemitism. “In the past five months, I have become traumatized,” said Talia Khan, a second-year graduate student at MIT. Eden Yadegar, a junior at Columbia University, described how Jewish students were attacked by people wielding sticks outside of the university library, and how she has been mocked on campus as well as on social media. The committee held a hearing in December questioning the presidents of Harvard, MIT and the University of Pennsylvania about antisemitism.

Persons: “, ”, Talia Khan, ” Khan, Khan, Eden Yadegar, ’ ”, Yadegar, Samantha Slater, ” Slater, UPenn, Virginia Foxx, Foxx Organizations: New, New York CNN, Jewish, House Education, Workforce, Columbia University, Massachusetts Institute of Technology, MIT, Khan, MIT Israel Alliance, Education, An MIT, CNN, Israel, House, Workforce Columbia, University, Ivy League, Harvard, University of Pennsylvania, Department of Education Locations: New York, Rep, Harvard, Columbia

☆ Here’s why regional banks have so much commercial real estate exposure
▼ + stars: | 2024-02-29 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

New York CNN —It’s no secret that commercial real estate (CRE) has become a source of stress for banks. Regional banks were on high alert recently after New York Community Bancorp (NYCB) reported steeper-than-expected future losses on commercial real estate loans. So why is it that the smaller, regional banks are so much more exposed to commercial real estate? Office real estate is among the bank’s smaller commercial real estate subcomponents. Robbins of Valley National Bank told CNN “we remain comfortable with our diverse and granular commercial real estate portfolio.”Office real estate is just one component of commercial real estate, albeit the most worrisome to banks and economists.

Persons: New York CNN —, Goldman Sachs, Fitch, Banks, BankRegData, Flagstar, “, JPMorgan Chase, —, Michael Brochstein, it’s, Ira Robbins, Robbins, CNN “, Carlos Barria, ” Organizations: New, New York CNN, New York Community Bancorp, Flagstar Bank, Federal Deposit Insurance Corporation, National Bank, JPMorgan, Getty, Valley National Bank, CNN, Fitch, FDIC, Reuters Locations: New York, Morristown , New Jersey

☆ Bitcoin to the moon? Here’s why it’s near an all-time high
▼ + stars: | 2024-02-28 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

And with Wednesday’s gains, it’s nearing its all-time high of around $69,000 set in November 2021, the last time bitcoin traded above $60,000. The rally is partly driven by billions of dollars flowing into the cryptocurrency after the US Securities and Exchange Commission green lit bitcoin exchange-traded funds last month. The other major factor at play is the upcoming “halving” of bitcoin. Halving refers to the built-in feature of bitcoin that automatically reduces the rate of new coins entering circulation. It takes place roughly every four years and, in theory, pushes the price of bitcoin higher because it creates more scarcity of an already finite currency.

Persons: bitcoin, Jamie Dimon, Brian Armstrong, — Brian Armstrong 🛡️, C oinbase, alf l ater, Organizations: New, New York CNN, JPMorgan, it’s, US Securities and Exchange Commission Locations: New York

☆ Premarket stocks: Is Nvidia too big to fail?
▼ + stars: | 2024-02-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Investors expect Nvidia to report earnings of $4.59 a share and $20.378 billion in revenue, up from just $6.05 billion a year before. Too big to fail: For the time being, Nvidia is the “most sophisticated and deployed” chipmaker in the world, and its output is one of national importance, said Newman. Capital One wants to be the biggest credit card company in America. If approved by regulators and shareholders, Capital One’s (COF) acquisition will create the biggest US credit card company by loan volume. Compared to other major credit card issuers, Capital One has historically catered to customers with credit scores in the 600s range, which is considered subprime.

Persons: “, ”, Daniel Newman, Newman, Jensen Huang, ” What’s, Sam Altman, Pat Gelsinger, Elisabeth Buchwald, Biden, Richard Fairbank, Fairbank, Samantha Delouya, Dow, Dow hasn’t Organizations: CNN Business, Bell, New York CNN, Nvidia, Wall, Microsoft, Apple, Investors, Intel, AMD, Discover Financial Services, Capital, Discover, Mastercard, Consumer Financial, Bureau, Walgreens, Dow Jones, Alliance, Dow Jones Industrial, Dow Jones Indices, Dow, Tesla Locations: New York, California, United States, China, Dubai, America

☆ Premarket stocks: Joe Biden’s top economic adviser isn’t worried about the latest inflation data
▼ + stars: | 2024-02-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —US markets broke a five-week winning streak last Friday after disappointing inflation data reignited economic and interest rate-related fears on Wall Street. Then last week, two key inflation indicators for January — the Consumer Price Index and Producer Price Index — rose above Wall Street expectations. Richmond Fed President Thomas Barkin said the new data showed that the Fed needs more confidence before cutting rates. I think in this case, the market isn’t necessarily telling you much about the economy’s fundamentals, the market is telling you what other market participants think. And I think that those economic fundamentals get you to the part that says, you know, it’s not not the economy.

Persons: Price, Thomas Barkin, Raphael Bostic, isn’t, Bell, Jared Bernstein, Joe Biden, I’m, they’re, It’s, it’s, Joe Weisenthal, Elisabeth Buchwald, Hanna Ziady, Liam Peach, ” Peach Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Richmond Fed, White House Council, Economic Advisers, CPI, Apple, Google, Nvidia, Microsoft, Capital, Discover Financial Services, Discover, Hamas, Gross, Israel’s, Bureau, Statistics, Capital Economics Locations: New York

☆ America is on the cusp of a new biggest credit card company. Here’s what it means for you
▼ + stars: | 2024-02-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

If approved by regulators and shareholders, Capital One’s (COF) acquisition will create the biggest US credit card company by loan volume. Discover cards are already accepted at 99% of all US merchants that allow customers to make credit card purchases, according to the company. Credit card networks are the liaison between card issuers and merchants, for whom they set fees. If Capital One flips all its credit cards to Discover, Mastercard would stand to lose a quarter of its US credit card volume. Compared to other major credit card issuers, Capital One has historically catered to customers with credit scores in the 600s range, which is considered subprime.

Persons: New York CNN —, Biden, Richard Fairbank, Fairbank, JPMorgan Chase, Andrew Harrer, Democratic Sen, Elizabeth Warren, Jaret, Cowen Organizations: New, New York CNN, Discover Financial Services, Capital, Discover, Mastercard, Visa, US, American Express, JPMorgan, Bank of America, Citigroup, Bloomberg, Getty, Consumer Financial, ”, Democratic Locations: New York, Mastercard’s, Visa’s

☆ Five moves Walmart is making to overhaul its business for the future
▼ + stars: | 2024-02-19 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +7 min

New York CNN —Walmart, the global mega-retailer that began in Arkansas in 1962, is making huge moves in 2024. It’s making investments in technology and inventory that move it into new businesses and which will alter the Walmart experience of many customers. Stock splitThe mega-retailer announced a 3-for-1 stock split that takes effect this week. A stock split means a single share gets split into multiple shares. Under the plan Walmart announced, people who own shares by close of business on February 22 will get two additional new shares of Walmart for every share they own.

Persons: Doug McMillon, Jeffries, “, ”, McMillon, Burt Flickinger, Blake Droesch, CNN’s Parija Kavilanz, Nathaniel Meyersohn, Elisabeth Buchwald, Alicia Wallace Organizations: New, New York CNN, Walmart, ”, Labor, Consumer, Microsoft, Strategic Resource, CNN, Costco, Telsey Group, Target, Intelligence, FactSet Locations: New York, Arkansas, Las Vegas

☆ Capital One is buying Discover in a $35.3 billion deal
▼ + stars: | 2024-02-19 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —Capital One announced it’s acquiring Discover Financial Services for $35.3 billion in an all-stock deal, giving the bank a leg up in the competitive credit card market. Under the terms of the deal announced Monday evening, Discover (DFS) shareholders will receive a little over one share of Capital One (COF) for every Discover share they own. If the deal is finalized, current Capital One shareholders will own a 60% stake in the combined company, while Discover shareholders will own the remaining 40%. Credit card networks are the liaison between card issuers and merchants, for whom they set fees. Currently, Capital One issues credit cards with Mastercard, Visa and Discover.

Persons: JPMorgan Chase, Richard Fairbank Organizations: New, New York CNN, Capital, Discover Financial Services, Discover, US, Visa, Mastercard, American Express, JPMorgan, Bank of America, Citigroup, Wall Street Journal Locations: New York

☆ Japan and the UK are in recessions. Is the US next?
▼ + stars: | 2024-02-16 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —And just like that, two of the world’s largest economies are in technical recessions. On Thursday, Japan and the UK both reported their second consecutive negative quarters of gross domestic product, fitting the widely agreed-upon definition of a recession. In 2022, the nation’s population declined by 800,000, marking the 14th consecutive year of contraction. In the UK, however, population and wage growth weren’t sufficient to stave off a drop in consumer spending, one of the main drivers of that economy. In the past two quarters, the nation’s economy experienced much higher than expected GDP growth, due in large part to robust consumer spending.

Persons: Paul Donovan, ” Donovan, Kazuhiro Nogi, ”, didn’t, Jerome Powell, “, it’s, there’s, Powell, Philipp Carlsson, doesn’t, “ it’s, Carlsson Organizations: New, New York CNN, UBS Global Wealth Management, Getty, National Bureau of Economic Research, don’t, US Federal Reserve, Boston Consulting Locations: New York, Japan, Germany, AFP, Ukraine

☆ Think falling prices would help? They could destroy an economy. Just ask China
▼ + stars: | 2024-02-15 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

China, however, is having a different problem: Prices are falling at their fastest rate in 15 years. No, that wasn’t a typo, falling prices are a problem when they’re widespread across an economy, like in China, which is experiencing what’s known as deflation. At first glance, falling prices may sound good. Like the US Federal Reserve, most central banks target a 2% annual rate of inflation, not zero inflation whatsoever. “In a deflationary environment monetary policy may not be able to sufficiently stimulate the economy by using its interest rate instrument.

Persons: — Organizations: New, New York CNN, US Federal Reserve, European Central Bank Locations: New York, China

☆ Surging restaurant prices are making dining out even more of a luxury
▼ + stars: | 2024-02-13 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

That’s because prices for groceries are up 1.2% year over year, while the price of food consumed at restaurants is up 5.1%. And in this election year, higher food prices, which rose last month to their highest monthly rate in a year, could present problems for President Joe Biden’s campaign. In January 2023, it was cheaper to dine out, with food prices up 8.2% compared to the prior year. In the post-pandemic world, consumers have been devoting more of their budgets to services compared to goods. As a whole, prices for services — which include dining out, transportation and entertainment — were up 0.7% in January compared to the prior month.

Persons: you’ve, Joe Biden’s, What’s, ”, Dana Peterson, ” Goldman Sachs Organizations: New, New York CNN, Conference Board Locations: New York

☆ Rate cuts likely won’t happen until the summer, Atlanta Fed chief says
▼ + stars: | 2024-02-12 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

Looking past a March cutSince the Fed’s first policy meeting this year, officials have worked together to temper market expectations on the timing of interest rate cuts. Bostic’s views on when it makes sense to start cutting rates are further out than the mid-year expectations most Fed officials have expressed, which is in line with current market expectations. In total, Fed officials anticipate three rate cuts this year, according to their latest Summary of Economic Projections, published at the end of last year. Economists expect the annual overall inflation rate measured by the Consumer Price Index to fall to 2.9% from December’s headline reading, according to FactSet consensus estimates. Fed officials like himself, he said, “live the economy too.”“I have to go to the grocery store like everybody else.

Persons: Don’t, Raphael Bostic, ”, Bostic, he’s, they’ve “, Jerome Powell, “ It’s, ” Bostic, “ I’ve, “ Organizations: New, New York CNN, Federal Reserve, Atlanta Fed, Federal, CNN, CBS, Consumer Locations: New York, Alabama, Florida, Georgia, Louisiana , Mississippi, Tennessee

☆ Michelin Guide history: How did a tire company become a restaurant rating guide?
▼ + stars: | 2024-02-10 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +14 min

Enter a pocket-sized red book known as the Michelin Guide. As a result, more French people had a desire to tour the country, making the Michelin Guide increasingly essential. The Michelin Guide now covers over 30,000 restaurants across three continents and more than 30 million guides have been sold. Addison is one of 13 three-star Michelin restaurants in the US and the only one in all of Southern California. A Michelin logo on a chef's uniform at the gala presentation of the Michelin Guide Spain on December 14, 2021.

Persons: André, Édouard Michelin, André Michelin, Édouard, Olivier Darmon, Guenter, ” Darmon, Darmon, ” William Bradley, Addison, William Bradley, Lauren di Matteo Addison, Bradley, ” Bradley, “, Roberto Alcocer, Christophe Bellanca, Christophe, Jordan Younis, Liz Clayman, Christophe Bellanca’s, they’re, Gwendal Poullennec, Richard Saker, Christophe Bellanca's, Alan Batt, ” Poullennec, Taylor Swift’s, Jorge Gil, Carbone, Jay, Kim Kardashian, Barack Obama, It’s, didn’t, Kevin Thornton’s, ” Thornton, Thornton, Michelin “, Bobby Yip, don’t, ’ ”, Alcocer, He’s, ” Bellanca Organizations: New, New York CNN, Michelin, Ferrand, Michelin Tire Company, Compagnie, des, Culture, AAA, CNN, Washington Post, Bellanca, Michelin Guides, Spain, Europa Press, Major Food Group, Irish Times, Conted, Reuters Locations: New York, Clermont, Paris, France, Europe, United States, San Diego, Southern California, Addison, Valle, Mexican, Oceanside, Oceanside , California, New York City, Cartmel, Cumbria, England, Kevin Thornton’s Dublin

☆ Good news for the Fed: Revised inflation data confirms last year’s progress
▼ + stars: | 2024-02-09 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

That left Fed officials bracing for the latest batch of revised CPI data, released Friday morning, which some feared could take away the inflation progress they observed last year. Instead, officials got some good news: December’s monthly inflation wasn’t as bad as initially reported, according to newly revised figures from the BLS. And for other months last year, initial data was either unchanged or revised by no more than one-tenth of a percentage point up or down. Recent data revisions have complicated the Fed’s monetary policy decisionsFed officials have been complaining about data revisions to key economic reports lately. But if revised data indicates that job gains didn’t actually slow that much in a month, cutting rates could move the inflation rate further from their target.

Persons: Christopher Waller, Waller, Friday’s, Kieran Clancy, ” Clancy, “, ” “, ” Organizations: New, New York CNN, Federal Reserve, Bureau of Labor Statistics, BLS, ”, Pantheon Locations: New York

☆ New York Community Bank’s stock price is plunging, but that won’t tell you if it’s on the brink of failure. Here’s what will
▼ + stars: | 2024-02-07 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —Some of the very first signs of banking stress in the crisis that unfolded last year were reflected in Silicon Valley Bank, Signature Bank and First Republic Bank’s nosediving share prices. That’s a considerably larger share compared to Signature Bank and Silicon Valley Bank shortly before their demises. So far, there’s no evidence that the bank is at risk of failingAs scary as it may be to see a bank’s stock price plunging, it’s not the best gauge for the bank’s viability. The best source of information on that front is a bank’s deposit flows, Chiaverini said. As of last quarter, deposits were down just 2% and declined even less excluding the custodial deposits connected to the acquisition of Signature Bank.

Persons: Bank’s, Thomas Cangemi, David Chiaverini, it’s, Chiaverini, NYCB, Janet Yellen, ” Yellen Organizations: New, New York CNN, Silicon Valley Bank, Signature Bank, First, New York Community Bancorp, Moody’s Investors Service, Wedbush Securities, ”, Silicon Valley, Bank of America, Financial Services, Federal Deposit Insurance Corporation Locations: New York, Silicon Valley

☆ Mexico tops China as the leading exporter of goods to the US
▼ + stars: | 2024-02-07 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +1 min

New York CNN —For the past two decades, the United States imported more goods from China than all other nations. Mexico is now the top exporter of goods into the US, according to new trade data released by the Commerce Department on Wednesday. Mexico sent $475.6 billion worth of goods into the US last year, a 5% increase from 2022. China, meanwhile, exported $427.2 billion worth of goods to the US last year, a 20% slump from 2022. That’s the largest annual decline in the trade deficit since 2009.

Persons: Matthew Martin, Brad Setser, Trump Organizations: New, New York CNN, Commerce Department, —, Oxford Economics, Council, Foreign Relations Locations: New York, United States, China, Mexico, US

The latest jobs data shows that America's job market remains shockingly robust in the face of the highest interest rates in 23 years. And the January report could have finally quelled Wall Street's belief that the Federal Reserve could start to cut interest rates as soon as March, according to futures. About a month ago, the odds of a March cut were north of 75%, but as of Friday morning, they were at 19.5%. The Fed's March 19-20 meeting is still several weeks away and many economic reports are due by then, but investors finally seem to be coming to grip with what Fed officials have been communicating all along. The January jobs report shows that demand is expected to remain solid, with Americans employed and enjoying strong wage growth.

Persons: Jerome Powell, “ Organizations: Federal Reserve, Fed

☆ What’s really going on with bank stocks
▼ + stars: | 2024-02-02 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

Word quickly spread on Wall Street that the regional bank was under pressure, igniting a bout of selling of other bank stocks over fears of contagion. The KBW Regional Banking Index closed down 6% on Wednesday. Unlike many fellow regional banks, it held on to the vast majority of its deposits. He also highlighted that the banks’ losses were tied to faulty office building loans. The selloff that hit other regional bank stocks is “likely overdone given idiosyncratic factors tied to NYCB,” Bank of America analysts said in a note on Thursday.

Persons: Zions, NYCB, Thomas Cangemi, Chris Marinac, Janney Montgomery Scott, CNN he’s, ”, ” NYCB, That’s, It’s, isn’t, ” Marinac, “ Organizations: New, New York CNN, Federal Reserve, New York Community Bancorp, Western Alliance Bancorp, York Community Bancorp, Bank, CNN, ” Bank of America, Aozora Bank, First Republic, Valley Bank Locations: New York, ZION, York

☆ Companies are hopeful about the economy again — even if they’re nervous
▼ + stars: | 2024-02-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Earnings season is in full swing, and that means investors get a chance to hear from multinational companies about the state of the global economy. Some of the United States’ biggest companies are in the hot seat to answer questions about the economy, and where it could be headed. Like the rest of the US, companies are watching whether the economy could still tip into a recession as interest rates hover around a 23-year high. Achieving a soft landing, or a situation in which inflation comes down without an economic downturn, looks likely, some companies said. According to the UK government’s own estimates, the checks — including physical inspections from April — will cost British businesses about £330 million ($419 million) annually and increase food inflation by about 0.2 percentage points over three years.

Persons: it’s, ”, Michael Hsu, Kimberly, Clark, Blackstone, Stephen Schwarzman, Christophe Le Caillec, Jim Vondruska, We’re, Robert Isom, Lorenzo Simonelli, Baker Hughes, Alan Schnitzer, Elisabeth Buchwald, “, Christopher Waller, Waller, Hanna Ziady, Read Organizations: CNN Business, Bell, New York CNN, United States ’, American, O'Hare Airport, Travelers Companies, ”, European Union Locations: New York, Chicago , Illinois, United Kingdom, Britain

In a Sunday letter to Fed Chair Powell, shared first with CNN, Warren expressed alarm at how “astronomical” mortgage rates have made a bad situation worse and urged Fed officials to start cutting borrowing costs. “We urge you to consider the effects of your interest rate decisions on the housing market and to reverse the troubling rate hikes that have put affordable housing out of reach for too many,” Warren and fellow Democratic Sens. John Hickenlooper, Jacky Rosen and Sheldon Whitehouse wrote. “Come on, Fed! Turn it around and drop those interest rates,” Warren told CNN’s Kate Bolduan on Monday.

Persons: Sen, Sherrod Brown, Powell, ” Brown, Brown, Elizabeth Warren, Warren, ” Warren, Democratic Sens, John Hickenlooper, Jacky Rosen, Sheldon Whitehouse, “, CNN’s Kate Bolduan, Read Organizations: Banking, Fed, CNN, Democratic

☆ Regional banks are back in focus after NY Community Bancorp stock drops 38% in one day
▼ + stars: | 2024-01-31 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —Regional bank stocks are back in the hotseat thanks to a truly horrific financial report from New York Community Bancorp. That caused shares of New York Community Bancorp to drop 38% in one day, and the stock hit a 25-year low. The bank’s stress brought down other regional bank stocks, with KBW Regional Banking Index closing down by 6% on Wednesday. That’s nothing compared to the devastating tailspin regional bank stocks encountered last spring. But New York Community Bancorp’s troubles may open up fresh wounds.

Persons: Thomas Cangemi, Cangemi, “ rightsize, “, ” Organizations: New, New York CNN, New York Community Bancorp, New York Community, Bank, KBW, York Community, Signature Bank Locations: New York, New, York

☆ The Federal Reserve is fed up with data revisions
▼ + stars: | 2024-01-31 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +11 min

Federal Reserve Governor Christopher Waller said large revisions in data are tainting his assessments of how the economy is doing. Al Drago/Bloomberg/Getty ImagesThat’s well above the average month-over-month revised change in job totals from 1973 to the latest available revision data, according to the BLS. The official summary of what Fed officials said and discussed during their September meeting — also known as the Fed minutes — stated: “A few participants observed that there were challenges in assessing the state of the economy because some data continued to be volatile and subject to large revisions.”Spokespeople from the Federal Reserve declined to answer which data Fed officials were referring to. Frequent and large revisions to economic data are weighing on Federal Reserve decision-making, Governor Michelle Bowman said. “We want to be data dependent, but not data point dependent,” Williams said.

Persons: Christopher Waller, Waller, it’s, Al Drago, ” Waller, ”, Michelle Bowman, —, Spokespeople, he’s, don’t, Erica Groshen, David Wilcox, Laura Kelter, Kelter, Groshen, Wilcox, John Williams, ” Williams, “ Organizations: New, New York CNN — Federal Reserve, ”, of Labor Statistics, BLS, Federal, Bloomberg, Getty, Fed, Ohio Bankers League, Federal Reserve, Commerce Department, Department, Census, Labor, Peterson Institute for International Economics, Employment, CNN, Wilcox . New York Fed Locations: New York, Wilcox . New

☆ Walmart’s stock is about to appear a whole lot cheaper
▼ + stars: | 2024-01-30 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: 1 min

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☆ Paul ‘Triple H’ Levesque makes public comments after WWE employee’s sex trafficking accusations against Vince McMahon
▼ + stars: | 2024-01-28 | by ( Elisabeth Buchwald | Eva Rothenberg | ) edition.cnn.com time to read: +2 min

New York CNN —Paul “Triple H” Levesque, the chief content officer at World Wrestling Entertainment, made his first public comments after Vince McMahon resigned Friday from the board of WWE’s parent company, TKO Group Holdings, in the wake of a former employee’s lawsuit accusing McMahon of sex trafficking, sexual assault and physical abuse. The horrifying allegations against McMahon were brought forward by Janel Grant, who worked at WWE’s headquarters. Grant alleged McMahon promised a job — and later promotions — at WWE in exchange for sex. Grant’s lawsuit also includes allegations McMahon trafficked her to other men inside and outside the company, including John Laurinaitis, a former wrestler who worked in the company’s talent relations department. The deal valued the newly combined company at over $21 billion, with WWE shareholders owning 49% of the combined company.

Persons: New York CNN — Paul “, New York CNN — Paul “ Triple H ” Levesque, Vince McMahon, McMahon, WWE’s, Levesque, McMahon’s, ” Levesque, he’s, Janel Grant, Grant, —, John Laurinaitis, Laurinaitis, Ari, Cody Rhodes, Dwayne “, ” Johnson, Samantha Delouya, Elizabeth Wagmeister, Jordan Valinsky Organizations: New, New York CNN, New York CNN — Paul “ Triple, World Wrestling Entertainment, Holdings, WWE, Endeavor, UFC, Netflix Locations: New York, St . Petersburg , Florida, WWE’s, Laurinaitis, Hollywood

☆ How America’s economy keeps defying expectations when the rest of the world is struggling
▼ + stars: | 2024-01-26 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

Economists were convinced the last quarter of 2023 had to be the one where economic growth slowed significantly after the prior quarter’s gangbuster 4.9% annualized growth rate. Gross domestic product, the broadest measure of economic output, did slow last quarter to a 3.3% annualized rate. It’s remarkable given economists were expecting 1.5% annualized GDP growth last quarter. But what’s perhaps most remarkable about the US economic growth rate is how much it towers over similarly sized advanced economies. Covid stimulus money is helping Americans avoid cutting back on spending.

Persons: Larry David, that’s, rateaccording, Joseph Gagnon, David Paul Morris, Gagnon, That’s, Alicia Wallace, Hanna Ziady, he’s, I’ve, it’s Organizations: New, New York CNN, Gross, Peterson Institute for International Economics, Federal Reserve, Bloomberg Locations: New York, Singapore, Europe, Ukraine

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