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☆ I ate at one of the oldest diners in the US, located inside a 1920s railcar. It was worth the hourlong wait for a seat.
▼ + stars: | 2024-10-07 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +2 min

I recently visited Palace Diner in Biddeford, Maine, which is nearly 100 years old. I waited over an hour for a spot at the diner's 15-seat counter but thought it was worth it. Go to newsletter preferences Thanks for signing up! AdvertisementOn a road trip from Connecticut to Portland, Maine, I stopped off at Palace Diner. Here's a look inside the historic Palace Diner, and what you should order when you visit.

Persons: —, Pollard, James Beard, Phil Rosenthal, It's, Greg Mitchell, Chad Conley, Conley Organizations: Service, Portland Press Herald, Maine Magazine Locations: Biddeford , Maine, Connecticut, Portland , Maine, Harborside , Maine

☆ Bernstein upgrades Campbell as people taking GLP-1 drugs eating more soup
▼ + stars: | 2024-10-07 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Campbell Soup could be poised to benefit from an uptick in GLP-1 drug usage, according to Bernstein. Among the 20 analysts covering Campbell, only five have a strong buy or buy rating, while 12 have a hold rating. In addition, the analyst anticipates that reduced chocolate consumption from GLP-1 intake may hinder U.S. chocolate volumes by 2% to 3%. "Unfortunately, chocolate category volumes remain stubbornly negative and Hershey's chocolate volumes also remain weak despite lapping easier and easier comparables in recent months," Howard continued. Meanwhile, only four have a strong buy or buy rating, and its average target of $202.14 implies a gain of about 5% ahead.

Persons: Campbell, Bernstein, Eli Lilly's Mounjaro, Alexia Howard, Milano, Howard, they've Organizations: Nordisk's Ozempic, Hershey Locations: GLP

☆ A 6-acre Vanderbilt equestrian estate from the Gilded Age is listed for $3.5 million. Take a look inside.
▼ + stars: | 2024-10-07 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

Sandy Point Farm was built in 1902 for Reginald Claypoole Vanderbilt in Portsmouth, Rhode Island. Sandy Point Farm, now listed for $3.5 million, has 24 stables and a 15,000-square-foot riding arena. Go to newsletter preferences Thanks for signing up! AdvertisementRhode Island is full of architectural marvels from the Gilded Age, but these historic properties rarely hit the market. That's what makes Sandy Point Farm, a 1902 equestrian estate that belonged to a Vanderbilt heir, a rare find.

Persons: Reginald Claypoole Vanderbilt, Cornelius Vanderbilt II, — Organizations: Service Locations: Sandy Point, Portsmouth , Rhode Island, Newport . Sandy Point, Rhode, Sandy, Vanderbilt

☆ A busy dad who got fit at 75 is now 96 and cycles daily. He shared 3 tips for getting into exercise at any age.
▼ + stars: | 2024-10-07 | by ( Serafina Kenny | ) www.businessinsider.com time to read: +5 min

He shared his tips for getting fit at any age with Business Insider. Now that he's retired, he has time to exercise for an hour a day, he told Business Insider. Eckenrode does 30 minutes on a stationary bike, as well as 30 minutes of calisthenic exercises that work his whole body, from his head to his toes. National Senior Games Association"I go out of my way to get on that stationary bike for sure. Multitask while exercising"I try to meditate on the stationary bike to start things off, and then try to plan my day when I'm biking.

Persons: Jack Eckenrode, didn't, —, he's, it's, Eckenrode, Harvard paleoanthropologist, Multitask Organizations: Business, Service, Research, Preventive Medicine, US Air Force, National Senior Games, Harvard, Mental Health Locations: Pittsburgh

☆ Historic Biltmore Estate shutters after floods from Hurricane Helene ravage Asheville
▼ + stars: | 2024-10-05 | by ( Deon J. Hampton | Deon J. Hampton Is A National Reporter For Nbc News. | ) www.nbcnews.com time to read: +2 min

ASHEVILLE, N.C. — America’s largest privately-owned estate has abruptly shut down in Asheville after Hurricane Helene caused extensive flooding and building damage along the 8,000 acre property. The iconic Biltmore Estate, situated in the Blue Ridge Mountains, spans 175,000 square feet, boasts 250 rooms, 43 bathrooms, 65 fireplaces and 22 miles of walking trail. “We are still assessing impacts to the estate from Tropical Storm Helene and that will take some time,” the estate said. In forested areas, which is a large portion of the estate, wind damage is extensive to grounds and some structures.” The post also said crews are clearing roads to start repairs. Last weekend, tree branches, logs and a dumpster floated across the nearby Biltmore Village after the area was submerged in water in the wake of the initial landfall.

Persons: Hurricane Helene, Melissa Sue Gerrits, Tropical Storm Helene, Sean Rayford, George Vanderbilt, Cornelius “, ” Vanderbilt Organizations: Biltmore, Hurricane Locations: ASHEVILLE, N.C, —, Asheville, Hurricane, Biltmore, Tropical, Florida, North Carolina, Buncombe, Staten Island , New York

☆ San Jose Japanese American farm from early 1900s to be demolished for urban housing
▼ + stars: | 2024-10-05 | by ( Claire Wang | ) www.nbcnews.com time to read: +6 min

In San Jose, a center of California’s housing crisis, one of the oldest and last remaining Japanese-owned farms in the state will be demolished to pave the way for urban housing. San Jose is home to one of only three existing Japantowns in the country and the only one built on agricultural roots. In July, the San Jose City Council voted to turn the Sakauye family’s 23-acre fruit orchard into a mixed-used development constituting nearly 1,500 apartment units and town houses. Vanessa Hatakeyama, the acting director of the Japanese American Museum of San Jose, said the Sakauye farm is a remnant of San Jose’s agricultural landscape — one that was built by Japanese immigrants — before it was transformed by the tech and suburban housing booms. In July, the San Jose City Council voted to turn the Sakauye family’s 23-acre fruit orchard into a mixed-used development constituting nearly 1,500 apartment units and town houses.

Persons: Vanessa Hatakeyama, ” Hatakeyama, they’d, Eichii, Ed ” Sakauye, Yuwakichi, Sakauye, of San Jose Eichii Sakauye, Edward Seely, “, ”, Rosemary Kamei, Kamei’s, Kamei, Ben Leech, Carolyn Sakauye, Jane May, Leech Organizations: San Jose City, Japanese American Museum of San, ” Preservation, ., Preservation, of San, City, city’s Department of Parks ,, Neighborhood Services Locations: Jose, San Jose, Japanese American Museum of San Jose, Silicon, California, Heart Mountain , Wyoming, Heart, of San Jose

☆ Elon Musk says he will speak at Donald Trump's rally in Pennsylvania
▼ + stars: | 2024-10-05 | by ( Katie Balevic | ) www.businessinsider.com time to read: +4 min

Elon Musk is joining Donald Trump for a rally in Pennsylvania. Musk has become one of Trump's most prominent supporters. As president-elect in late 2016, Trump announced Musk would join his economic advisory board, but Musk would later cut ties with the administration over disagreements on climate change policies. At a Trump rally, Trump called Musk a "bullshit artist," after which Musk suggested Trump should not run for president again. Trump retaliated, saying Musk would be "worthless" without government subsidies and that Trump previously could have made Musk beg on his knees for government support.

Persons: Elon Musk, Donald Trump, Trump, Musk, —, JD Vance, Kamala Harris, Ron DeSantis, DeSantis Organizations: Service, Trump, Democratic, White, Republican, Florida Gov, GOP, PAC Locations: Pennsylvania, Butler , Pennsylvania, Trump's, Washington

☆ I took a 6-day road trip with 4 teenagers. We spent over $5,000, and I learned to feed everyone before they were hungry.
▼ + stars: | 2024-10-05 | by ( Rebecca Hastings | ) www.businessinsider.com time to read: +6 min

My husband and I took our three teens, plus a boyfriend, on a six-day road trip. AdvertisementWhen I picture a road trip, I see images of two carefree people in a convertible traversing Route 66. A road trip with kids, however, is a different experience, especially when those kids are teenagers. There's a lot of perks to taking a road trip with teens. Our trip may not have been a carefree convertible ride, but it was a road trip we will all remember.

Persons: —, I'm, Tim Hortons, Hornblower Organizations: Service, Niagara Parks Power, New, KFC, Corning Glass Museum, Watkins Glen, Watkins Glen State Locations: Connecticut, Canada, New York, Niagara Falls, Fallsview, Syracuse, Niagra, Savona , NY, Corning , NY, Wendy's

Trump plans ‘different’ eventFive days after the shooting, as Trump captivated Republicans in his convention speech in Milwaukee, the former president vowed to never again mention details of the assassination attempt. “Everybody up there, they were amazing,” Trump told the Erie crowd, some of whom cheered when he asked if any of them had been present at the Butler rally. They saw that we were in trouble.”The event Saturday at Butler Farm Show Inc. is expected to be “different” from a typical Trump rally, a senior Trump campaign adviser told CNN. Harris is blasting Trump on health care in Wisconsin, while Trump is hammering Harris on taxes in Georgia. One focus of Harris’ campaign is Latino voters in Pennsylvania, in a bid to stop Trump from eating away at Democrats’ traditionally large margins of victory among non-White voters.

Persons: Donald Trump, “, ‘ We’re, ” Trump, Trump, Joe Biden, Kamala Harris ’, Butler, “ We’re, ’, Corey Comperatore, David Dutch, James Copenhaver, —, Ohio Sen, JD Vance, Elon Musk, Lee Greenwood, Thomas Matthew Crooks, Crooks, Communications Anthony Guglielmi, Harris, Liz Cheney, — Trump, Tim Walz, Hurricane Maria —, Barack Obama, Harris ’, CNN’s Camila DeChalus, David Wright, Kristen Holmes, Zachary Cohen Organizations: CNN, White, Democratic, Trump, Republicans, Erie, Butler, Republican National Convention, SpaceX, Secret Service, Service, Pennsylvania State Police, Communications, Sun, Democrats, Keystone, Republican, Marquette Law, Wyoming, Republican Party, CBS, Democrats ’, Hurricane, Pennsylvania Locations: Pennsylvania, Butler, Pittsburgh, Florida, Milwaukee, Erie, That’s, Butler Township, Michigan , Pennsylvania, Wisconsin, Arizona , Georgia, Nevada, North Carolina, Georgia, Ripon , Wisconsin, Minnesota, Bethlehem, Puerto Rico, Puerto Rican

☆ The Obamacare wars return to the campaign trail: From the Politics Desk
▼ + stars: | 2024-10-04 | by ( The Politics Desk | ) www.nbcnews.com time to read: +6 min

Welcome to the online version of From the Politics Desk, an evening newsletter that brings you the NBC News Politics team’s latest reporting and analysis from the campaign trail, the White House and Capitol Hill. In today’s edition, senior national political reporter Sahil Kapur examines how the political fight over Obamacare was reignited this week. The Obamacare wars return to the campaign trailBy Sahil KapurObamacare has re-entered the chat. Also this week, Trump’s running mate, Sen. JD Vance, raised eyebrows by rewriting the history of Trump’s attempts to repeal Obamacare when he was president. Meanwhile, Barack Obama will make his first appearance on the campaign trail this fall next week in Pittsburgh at an event for Harris.

Persons: Sahil Kapur, Obamacare, Kristen Welker, Sahil Kapur Obamacare, Barack Obama, Kamala Harris, Donald Trump’s, Trump, Harris, Harris ’, “ Trump, Sen, JD Vance, “ Donald Trump could’ve, ” Vance, Tuesday’s, Vance, Tom Cotton, Cotton, Monica Alba, Jonathan Allen, Peter Nicholas, Yamiche, Natasha Korecki, Matt Dixon, Kamala Harris ’, What’s, Bob Casey, Dave McCormick, Casey, McCormick’s, Joe Biden, Biden Organizations: NBC, White House, Capitol, White, Affordable, Republicans, GOP, NBC News, Democrats, Democratic, Keystone State, Trump, McCormick Locations: Pennsylvania, Keystone, Butler, Pa, Pittsburgh, Connecticut, Philadelphia, Wisconsin

That opportunistic vocalist was named Otis Redding, who received a star on the Hollywood Walk of Fame on Friday. Jimmy Jam, a music producer and the master of ceremonies for the unveiling of the star, lauded Redding as legendary. Santiago started off by thanking Zelma Redding, Otis Redding's wife, who attended the ceremony. But this means the world, that here we are, traveling all the way to the West Coast for this honor that will live on forever as the legacy of Otis Redding does," Redding-Andrews said. “I am not a blues singer or an R&B singer,” Redding once said.

Persons: Johnny Jenkins, Jenkins, Otis Redding, Jimmy Jam, Redding, Jam, Michael Santiago, Mike, Santiago, Zelma Redding, Otis Redding's, Martin, Coretta, Malcolm, Betty, Otis, Coretta Scott King, Betty Shabazz, Martin Luther King Jr, Malcolm X, Karla Redding, Redding's, “, ‘, ’ ”, Andrews, ”, Rolling, Little Richard’s, Carla Thomas, Phil Walden, Bob Dylan, Janis Joplin, “ Otis Redding, Bill Graham, ” Redding Organizations: Stax Records, Stax, Hollywood, Rolling Stone, Memphis DJ, Fillmore, Monterey Pop Festival Locations: Memphis, Andrews, West, Macon , Georgia, Georgia, San Francisco, Los Angeles, Sausalito, Madison, Wis, Monterey

Outside of the ABC27 news station where Casey and McCormick debated, a slew of people aligned with Casey’s campaign held signs calling McCormick an out-of-state candidate. McCormick attempted to deflect the line of attack on the debate stage by arguing Casey has little show for his long career in public office. “When you don’t have a record to run on, which Senator Casey does not, you attack your opponent,” McCormick shot back. When Vice President Kamala Harris replaced Biden as the Democratic nominee, McCormick said Casey quickly changed his tune. “Senator Casey said, ‘Kamala Harris is great!’” McCormick said.

Persons: Democratic Sen, Bob Casey, Dave McCormick, Casey, McCormick, who’s, ”, ” Casey, “, ” McCormick, Mehmet Oz, “ I’m, John Fetterman, Oz, ‘, “ He’s, “ Sen, Joe Biden, Kamala Harris, Biden, ‘ Kamala Harris, ’ ” McCormick, “ we’ll, Harris, …, it’s, Donald Trump, Trump, Barack Obama, “ Casey, Roe, Wade, There’s, ’, “ We’ve, he’s, Daniel Dolan, ” Dolan Organizations: Democratic, Republican, Bridgewater Associates, Senate, White, Trump, NBC, Democratic Senators, Casey, Patrol, Harrisburg Community College Locations: HARRISBURG, Pa, Washington, Pennsylvania, Connecticut, Pittsburgh, Bloomsburg , Pennsylvania, New Jersey, China, New York, Ukraine, Iran, U.S, Israel, Mexico

☆ I dined at a James Beard-nominated restaurant for the first time. Here are 10 things that surprised me.
▼ + stars: | 2024-10-04 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +2 min

I recently dined at Fore Street, one of the most awarded restaurants in Portland, Maine. The restaurant has been nominated for many James Beard awards, including "Outstanding Restaurant." Despite being a food reporter for over five years, I've never dined at a restaurant that has been recognized by the James Beard Awards, one of the most prestigious accolades a restaurant or chef can receive. So, before visiting Portland for the first time, I decided to make a reservation at Fore Street to judge the experience, atmosphere, and, most importantly, the food. Here are 10 things that surprised me about dining at Fore Street, and whether it's worth trying to score a coveted reservation.

Persons: James Beard, —, Sam Hayward, I've Organizations: Service, Northeastern, James Locations: Portland , Maine, Old Port neighborhood, Portland, Maine, Northeastern United States, United States

☆ The House That Malin+Goetz Built (And Built Again)
▼ + stars: | 2024-10-04 | by ( Craig Kellogg | Ashok Sinha | ) www.nytimes.com time to read: +9 min

Freshly painted white and fitted with new mahogany shutters, this new old house is nearly finished. And then came the stunning phone call, freezing Mr. Goetz and Mr. Malin in the back of that cab. Would it “look like a fake old house?” Mr. Malin asked. “Do I care whether a two-by-four is hundreds of years old, or 90 days old?” Mr. Goetz asked. Construction can’t be finished fast enough for Mr. Goetz and Mr. Malin.

Persons: Matthew Malin, Andrew Goetz, Malin, Goetz, ”, “, Mr, “ I’m, shou, Harold van Goetz, Malin + Goetz, rurality, Andrew Bernheimer, Jim Joseph, Joseph, Joseph ., John Hulka, Ralph Lauren, Hulka, Benjamin Moore, Frederick P, Saarinen, Jamie Purinton, can’t, Haroldhurst, “ We’ve Organizations: European Union, Joseph Architects, & Locations: Chatham , N.Y, Kinderhook, Hudson, Larchmont, London, Australia, South East England, Chelsea, New York, Chatham, Van Courtland, Dutch, Connecticut

☆ Trump’s ground game relies on untraditional strategies to draw out battleground voters
▼ + stars: | 2024-10-04 | by ( Steve Contorno | Fredreka Schouten | ) edition.cnn.com time to read: +19 min

And it’s a playbook that former President Donald Trump’s campaign has tossed aside. It’s a gamble, Trump’s campaign internally acknowledges, but one that they insist is built on data they have collected over nearly a decade and tested for the past six months. Days later, the Michigan state party chairman also plugged 10xVotes when he rolled into Traverse City, Michigan, alongside Trump running mate JD Vance. But rather than courting those voters, Trump’s campaign is in search of new ones. Trump’s campaign has also tried to seize on discord within the Democratic coalition.

Persons: Paul Hudson, “ Harris Walz ”, Donald Trump’s, Trump, Elon Musk, Tucker Carlson, JD Vance, “, ”, Dennis Lennox, Mary, Kamala Harris –, don’t, James Blair, Blair, ” Blair, Donald Trump, Anna Moneymaker, Gerald Ford, Nikki Haley, Hillary Scholten, ” Hudson, Trump’s, Charlie Kirk, Harris, Musk, –, Republicans Kari Lake, Blake Masters, Sen, Rebecca Noble, flummoxed, Joe Biden, Susie Wiles, Volodymyr Zelenskyy, Julia Demaree Nikhinson, Virgin Mary, Michael, Lennox, you’re, ” Lennox, Michael Whatley, Lara Trump, Elijah Nouvelage, Jim Pillen, wouldn’t, ” Danielle Butterfield, ’, CNN’s Ali Main, Kristen Holmes, David Wright, Jeff Zeleny Organizations: CNN, Republican, Grand Rapids, Trump, Republicans, Republican Party, Veteran Affairs, Grand, White House, Van, South Carolina Gov, America PAC, Musk, Federal, Commission, Getty, Trump Force, Sunshine State, Miami Gardens, Cuban, Democratic, Florida, Biden, GOP, Michigan, Republican National Committee, RNC, University of North, Republican Gov, Nebraska’s, White, Democrat, USA Locations: doorsteps, Michigan, Grand Rapids, Grand, Traverse City , Michigan, Detroit, Grand Rapids , Michigan, Congress, Kent, Arizona, Mesa , Arizona, AFP, Arizona , Wisconsin, Wolverine, Wisconsin, Iowa, Ohio, Florida, Black, Miami, Israel, Puerto, Dade County, New York, Pennsylvania, Cheboygan County , Michigan, Republican County, North Carolina, University of North Carolina, Georgia, Fulton County, Atlanta, Nevada, Nebraska, Omaha, Wisconsin , Michigan

☆ A majority of North Carolina homeowners didn't have flood insurance. Then Helene hit.
▼ + stars: | 2024-10-04 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +7 min

Heavy rains from Hurricane Helene caused flooding across western North Carolina, like here in Asheville. Melissa Sue Gerrits/Getty ImagesBut only about 2.6% of the 4.3 million properties across the state — or around 115,000 properties — had flood insurance as of June 2024, according to private provider Neptune Flood Insurance, which analyzed data from the government-backed National Flood Insurance Program. North Carolina Department of Insurance communications director Jason Tyson estimated that about 139,000 properties in the state have flood insurance through the NFIP. Part of the problem with flood insurance is a common misconception that regular home insurance covers flooding, which is rarely the case, four experts knowledgable about flood insurance and disaster management told Business Insider. "We don't think of western North Carolina and the Appalachian mountains as an area that has significant flood risk."

Persons: Hurricane Helene, Melissa Sue Gerrits, Neptune, Jason Tyson, Sue Gerrits, Trevor Burgess, Jeffrey Schlegelmilch, Schlegelmilch, Margaret Walls, they're, there's, It's, it's, Helene, Jeremy Porter, Burgess, Yanjun Liao, Liao Organizations: Service, North, Climate Office, Neptune Flood Insurance, Flood Insurance, North Carolina Department of Insurance, The North, Information Center, Business, Getty, National Center for Disaster Preparedness, Columbia Climate School, FEMA, Associated Press, Resources Locations: Hurricane, North Carolina, Asheville, —, The, The North Carolina, Black Mountain , North Carolina, State, North, Florida , Louisiana, Texas, Asheville , North Carolina

Furniture and other manufactured goods, especially machinery like farm equipment, vehicles and auto parts, could also be disrupted, the lobbying group said. “There’s no reason for people to go out and do like we did during Covid and hoard,” Ellen said. There’s no reason for people to go out and do like we did during Covid and hoard. “There’s no reason to panic,” he said, adding that many companies and freight operators have spent months preparing for the strike. Agresta advised consumers to consider similar products and local options if shortages arise for perishable goods, including produce.

Persons: feedstocks, ” Ellen, Andy Ellen, Joseph Agresta, tammytheblackprepper, Agresta, ”, Ron Vachris, “ Organizations: North Carolina Retail, Rutgers Business School, Walmart, Costco Locations: Canada, Mexico, West Coast

☆ A private island for $1,000 per night — for those who are willing to get there
▼ + stars: | 2024-10-03 | by ( Marylou Costa | Leila Najafi | ) www.cnbc.com time to read: +8 min

Tomas Ouhel, second from the right, was the first of four friends to see the Indonesian island. Source: Segara Bumi IndahThey then built staff quarters, a beachfront communal space and four more guest bungalows, which together can fit 12 people. Source: Segara Bumi IndahThe island costs $999 per night for eight people. Source: Segara Bumi IndahThe final leg of the journey is an hour and a half boat ride to Pinang Island. Source: Segara Bumi IndahHe also said the island isn't for travelers looking for a high-end vacation.

Persons: Richard Kvech, Tomas Ouhel, Stephan Kotas, Martin Mrazek, Kvech, He's, it's Organizations: CNBC Travel, Garmin, Fifan Foundation Locations: Kvech, Czech Republic, Sumatra, Bangkaru, Indonesian, Pinang, Plenty, Singapore, Kuala Lumpur, Medan, North Sumatra, Singkil, Indonesia's Aceh, Nias

☆ Unwashed poppy seeds: Opioid overdose from tainted tea prompts proposed bill
▼ + stars: | 2024-10-03 | by ( David Hilzenrath | ) edition.cnn.com time to read: +8 min

People have died after drinking tea brewed from unwashed poppy seeds. Members of the House of Representatives and Senate have proposed legislation “to prohibit the distribution and sale of contaminated poppy seeds in order to prevent harm, addiction, and further deaths from morphine-contaminated poppy seeds.” The bill was one of several on the agenda for a September 10 House hearing. On the other hand, tea made from large quantities of unwashed poppy seeds could lead to addiction and overdose, doctors said. The US Drug Enforcement Administration said unwashed poppy seeds can kill when used alone or in combination with other drugs. The US Department of Justice has brought criminal prosecutions over the sale of unwashed poppy seeds.

Persons: “, “ It’s, Elke Scholiers, ”, Steve Hacala, Courtney Rhodes, CSPI, Eva Greenthal, It’s, Irving Haber, Benjamin Lai, Lai, ‘, Steve Hacala’s, Stephen Hacala, Stephen Hacala’s, Betty, David Rousseau, Jamie Silakowski, Silakowski, Tim Hortons, Popeyes, Joe’s, Sen, Tom Cotton, Steve Womack Organizations: Health, Marshall, US Department of Defense, Doping, Workers, for Science, Food and Drug Administration, FDA, Mayo Clinic, Arkansas State Crime Laboratory, KFF Health, Restaurant Brands, Burger, Washington Post, US Drug Enforcement Administration, US Department of Justice, Senate, Republican, KFF Locations: Chittorgarh, India, Rochester , Minnesota, Arkansas, South Korea

☆ Starbucks invests in two innovation farms to help climate-proof its coffee
▼ + stars: | 2024-10-03 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

A sign outside of the Starbucks headquarters is seen at Starbucks Center on July 3, 2024 in Seattle, Washington. More than a decade ago, Starbucks bought its first coffee farm, in Costa Rica. For Starbucks, which buys 3% of the world's coffee, the shortages can mean scrambling to find Arabica beans — and higher prices for its customers. Consumer coffee prices have risen 18% over the last five years as of August, according to the Bureau of Labor Statistics. The Coffee Belt refers to the equatorial region with the ideal conditions to grow coffee beans.

Persons: it's, La Nina, Roberto Vega Organizations: Starbucks Center, Starbucks, Consumer, Bureau of Labor Statistics Locations: Seattle , Washington, Costa Rica, Seattle, Guatemala, Brazil

☆ Dollar hits one-month peak to yen as Fed seen taking time with rate cuts
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: +3 min

The euro languished not far from a three-week trough reached in the previous session, after normally hawkish European Central Bank policymaker Isabel Schnabel took a dovish tone on inflation, cementing bets for a rate cut this month. Currently, traders lay 34.6% odds of another 50 basis-point U.S. rate cut on Nov. 7, after the Fed kicked off its easing cycle with a super-sized reduction last month. "I do think that if the payrolls report overall is not too shabby tomorrow night, then we will see that pricing (for a 50 basis-point cut) coming in quite significantly." The dollar added 0.09% to 146.575 yen after earlier reaching 146.885 for the first time since Sept. 3. The euro was little changed at $1.10455, sitting not far from Wednesday's low of $1.10325, a level last seen on Sept. 12.

Persons: European Central Bank policymaker Isabel Schnabel, Ray Attrill, Attrill, Asahi Noguchi, Sterling Organizations: Federal Reserve, European Central Bank, Private U.S, ADP, Fed, National Australia Bank, Dovish Bank of Japan Locations: U.S, Iran, Israel

☆ Massive East Coast port strike: five things to know
▼ + stars: | 2024-10-03 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +6 min

New York CNN —A massive port strike along the East and Gulf Coasts that kicked off on Tuesday has the potential to become one of America’s most disruptive work stoppages in recent times. Here’s the latest information you need to know about the port strike. People are panic-buying toilet paper, reports on social media show, displaying empty store shelves where toilet paper and sometimes paper towels used to be. Unlike toilet paper, bananas go bad, so shippers weren’t able to ship large volumes in advance of strikes. On Wednesday, Biden starkly warned against the “man-made disaster” caused by the ongoing port strike and urged the two sides to come to an agreement to avoid significant economic impacts.

Persons: ”, Harold Daggett, Dockworkers, USMX, Biden, Joe Biden, Taft, Hartley, “, ” Biden, Kamala Harris, didn’t, Donald Trump’s, Trump, Kamala Harris ’, Joint Base Andrews, “ We’re, Betsy Klein, Allison Morrow, Chris Isidore, Vanessa Yurkevich, Kayla Tausche, Arlette Saenz Organizations: New, New York CNN, Gulf Coasts, International Longshoremen’s Association, United States Maritime Alliance, CNN, ILA, Anderson Economic, American Farm Bureau Federation, Democratic, ”, NLRB, American, Wednesday, Joint Base Locations: New York, East, USMX, Maine, Texas, Canada, Mexico, Taft, America

☆ Gold rangebound as investors brace for key U.S. economic data
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key U.S. economic data that may provide clues about the size of the Federal Reserve's interest rate cuts expected later this year. Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key U.S. economic data that may provide clues about the size of the Federal Reserve's interest rate cuts expected later this year. Investors are watching out for the ISM services data and the initial jobless claims, due later in the day, along with the U.S. non-farm payroll data expected on Friday. Gold tends to thrive in a low interest rate environment and political turmoil. Elsewhere, Perth Mint's gold product sales touched a 10-month high in September, while silver sales hit a seven-month high.

Persons: Brian Lan, —, CME's, Lan Organizations: GoldSilver Central, Investors, U.S . Locations: Singapore, Israel, Beirut, Iran, Perth

☆ Stocks face a 10% drop with key economic data mired in recession territory, investment chief says
▼ + stars: | 2024-10-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Key data prints are hovering in recession territory, Megan Horneman said. "I think investors got a little ahead of themselves," she said. This over-enthusiasm could cost the market heavily, pushing stocks toward a 7% to 10% drop, the chief investment officer said. "I think investors got a little ahead of themselves as far as the what strength there is in the economy," she told Yahoo Finance. Still, these data prints have taken a backseat to labor data, which holds the spotlight on Wall Street.

Persons: Megan Horneman, —, Tim Fiore, Morgan Stanley, Horneman Organizations: Yahoo Finance, Service, Conference Board, September's, PMI, US Federal Reserve

☆ The US port strike isn't just hitting imports. America's farmers could be hurt, too.
▼ + stars: | 2024-10-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The US port strike on the East and Gulf Coasts could threaten farm exports amid harvest season. AdvertisementThe US port strike at East and Gulf Coast ports isn't just impacting bananas and consumer imports into the country — it could hurt America's farm exports too. Seyfert told Politico on Friday that while some farm exports can be moved to the West Coast for shipping, there's probably not enough capacity there. "A prolonged strike would force importers to seek alternative supplies, either from West Coast ports or other countries," wrote Glauber. AdvertisementLogistics experts told Business Insider's Tim Paradis that the port strike could damage the US economy badly.

Persons: Joe Biden, —, Mike Seyfert, Seyfert, Joseph Glauber, Tim Paradis, Biden Organizations: Association, Service, White, Politico, Food Policy Research Institute, Logistics, United States Maritime Alliance, International Longshoremen's Association Locations: Gulf, East, Gulf Coast, West Coast, Mexico

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