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Read previewA snowboarder reported missing at a ski resort in California on Thursday was stranded on a gondola overnight in the cold. Laso told KCRA that she tried getting the attention of workers she could see below, but they couldn't hear her. Heavenly Ski Resort operates a gondola ride that is 2.4 miles long and runs daily, per its website. Heavenly Ski Resort said it is investigating the incident, per the outlet. Vail Resorts, which owns Heavenly Ski Resort, did not immediately respond to a request for comment sent outside regular business hours by Business Insider.
Persons: , Monica Laso, Laso, KCRA, Kim George, Tom Fortune Organizations: Service, Business, NBC, KCRA, National Weather Service, El, Office, Associated Press, AP, Vail Resorts Locations: California, El Dorado County
SOUTH LAKE TAHOE, Calif. (AP) — A snowboarder spent 15 hours trapped overnight inside a ski lift gondola amid freezing temperatures at a Lake Tahoe resort, according to officials and media reports. Monica Laso boarded the gondola around 5 p.m. Thursday at Heavenly Ski Resort to ride down the mountain because she was too tired to snowboard. But it stopped just minutes later while she was still in the sky, she told KCRA, which first reported the news. “I screamed desperately until I lost my voice,” Laso told KCRA in an interview in Spanish. The ski resort, located on the southeastern side of the lake near the California-Nevada border, is investigating “with the utmost seriousness” how Laso got trapped.
Persons: Monica Laso, KCRA, Laso, didn't, , ” Laso, wasn't, she'd, , Tom Fortune, Kim George, George, “ we’ve, ” George Organizations: TV, National Weather Service, El, California -, Associated Press Locations: TAHOE, Calif, El Dorado County, California, California - Nevada
A key component will be close air support , or CAS, which the US Air Force defines as "air action by aircraft against hostile targets that are in close proximity to friendly forces." But air support became more responsive "as the ground forces became more motorized and mechanized, and PLAAF capabilities improved." But the biggest limitation for Chinese close air support remains command and control. AdvertisementWhile China is beginning to make strides here, the PLA's approach to close air support has key differences with America's. Chinese CAS also "appears to have a simpler and streamlined command and coordination system compared to U.S. close air support," wrote McCauley.
Persons: Kevin McCauley, McCauley, Ethan R, Jones, Brendan Mulvaney, Mulvaney Organizations: Service, Business, US Air Force, Air, Marine Corps, People's Liberation Army, People's Liberation Army Air Force, US, Foreign Military Studies, CAFS, US Army, US 9th Air Force, CAS, US Marine Corps, PLA, US Air, China Aerospace Studies Institute Locations: China, Taiwan, Ukraine, Russian, Soviet, Normandy, Britain, Korea, Vietnam, Afghanistan, Iraq
Read previewWhen Rigel Robinson was elected to the Berkeley City Council in 2018 — just months after graduating from UC Berkeley — he was determined to tackle the city's housing crisis as its youngest-ever council member. As an undergrad serving on Berkeley's student government, Robinson grew passionate about building more affordable student housing in the notoriously expensive city. Meanwhile, the university is facing a severe student housing shortage amid a broader affordability crisis. But Robinson's advocacy for housing in People's Park was met with a wave of harassment from residents who wanted to keep the park as is. Earlier this month, the conflict escalated as hundreds of police officers arrested dozens of protesters and cleared tents at People's Park.
Persons: , Rigel Robinson, Robinson, Gavin Newsom, it's, hasn't, Terry Taplin, he'll, what's Organizations: Service, Berkeley City Council, UC Berkeley —, Business, Economic, Gov, Berkeley, City of Locations: Berkeley, People's, Berkeley's, West Coast, YIMBYs, City, City of Berkeley
Chinese-founded online retail giant Shein is not positioning itself as an Amazon "clone," the company told CNBC, as it prepares for a U.S. public listing later this year. But that expansion will vary from market to market, and skew heavily toward Generation Z — born between the late 1990s and early 2000s — and younger Millennial consumers, who were born between the early 1980s and late 1990s. "I don't see us an an Amazon clone per se," Pernot-Day said at the World Economic Forum in Davos, Switzerland. "So, product categories vary across these markets. But the core point is that being receptive and responsive to Generation Z, younger Millennial shoppers, is something that leads to growth," he added.
Persons: Peter Pernot, , Inditex Organizations: CNBC, Economic Locations: U.S, Davos, Switzerland, The Singapore, Zara
A bunch of executives at e-commerce firm Wayfair singled out remote workers as the ones who were more likely to have been laid off in a fresh round of cuts, The Wall Street Journal. The targeting of remote workers will come as little surprise for many, given the ugly battle that's been raging over remote work in recent months. Some bosses such as Elon Musk have disparaged remote workers as lazy members of the "laptop classes living in la la land," and called out the practice as "morally wrong." However, the Wayfair layoffs are a reminder that remote workers are in grave danger if their managers don't believe they're putting in the hours away from the office. Many remote workers will be feeling more vulnerable than ever.
Persons: , Wayfair, Niraj Shah, Shah, Elon Musk, Goldman Sachs, David Solomon, Ken Griffin Organizations: Service, Street, Business, Elon, Meta, Google, eBay, Billionaire, Citadel Locations: la la
Read previewChicago is the latest city to consider limiting the number of dollar stores. AdvertisementSome have followed the path of the Chicago proposal, enacting laws limiting the opening of new dollar stores. One community in Southern Michigan pushed back on a proposed Dollar General store but ultimately approved the store after the company sued. Dollar Tree and Dollar General have responded by opening more stores with space for produce and refrigerated foods. AdvertisementDo you work at a Dollar General, Dollar Tree, or Family Dollar store and have a story idea to share?
Persons: , Matt O'Shea, O'Shea, Dollar Organizations: Service, Chicago City Council, Chicago Sun, Times, WTTW, Business, Fortune, Sun - Times, Consumer, Institute for Local Locations: Chicago, Stonecrest , Georgia, Southern Michigan
At the end of last year, Wayfair CEO Niraj Shah had a clear message for workers heading into 2024: "Winning takes hard work." "There is not a lot of history of laziness being rewarded with success," Shah wrote. "In his note, Niraj was reinforcing some of the values that have contributed to Wayfair's success, including questioning the status quo, being cost-efficient and working hard together to drive results." However, employees now have other priorities, new research shows, and more time at the office is not one of them. Employees are more likely to consider work-life balance, flexible hours and mental health support as more important, the report found.
Persons: Niraj Shah, Shah, Niraj Organizations: Business, Finance
EBay said Tuesday that it plans to lay off 9% of the company's workforce, equal to about 1,000 full-time jobs, as the tech industry continues to downsize to start 2024. Iannone said the job cuts are necessary because eBay's "overall headcount and expenses have outpaced the growth of our business." Following hefty job cuts last year, tech companies have continued to eliminate positions in January as concerns about consumer and business spending persist. Regarding eBay's cuts, Iannone said he wants employees to work from home on Jan. 24, "to provide some space and privacy for these conversations." EBay shares dropped about 4% in November after the company provided fourth-quarter revenue guidance that trailed Wall Street estimates.
Persons: Jamie Iannone, Iannone, Jim Cramer Organizations: EBay, SAP, eBay, Wall Locations: downsize, Europe
New York CNN —Wayfair is laying off 1,650 employees, amounting to 13% of its global workforce, as the online home goods retailer struggled to rebound following its success amid pandemic lockdowns. “I believe we need to stay focused as a company on what committed small teams can accomplish,” Shah wrote Friday. All workers will receive an email Friday about their future with the company and severance will be offered to those affected. Late last year, Wayfair’s Shah garnered attention for his blunt year-end letter to his employees telling them to blend work and life together. Shah also encouraged Wayfair employees to think of the company money they spend as their own and negotiate prices.
Persons: New York CNN —, Niraj Shah, Wayfair “, Shah, , ” Shah, Wayfair, Wayfair’s Shah, , CNN’s Nathaniel Meyersohn Organizations: New, New York CNN Locations: New York, Boston
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWayfair said Friday it's cutting 1,650 jobs, with many corporate staff in the firing line. "I truly regret the impact this will have on you," Shah told staff in an email on Friday announcing the layoffs. Wayfair appears to have had about 12,700 staff before the most recent round of layoffs. Were you laid off by Wayfair or are you concerned about the cuts?
Persons: , Wayfair, Niraj Shah, Shah, they've Organizations: Service, Business
North Korea has conducted a test of its underwater nuclear weapons system in a protest against this week's joint military drills by South Korea, the United States and Japan, state media KCNA said on Friday. The test of the "Haeil-5-23" system, a name North Korea has given to its nuclear-capable underwater attack drones, was carried out by the defence ministry's think tank in the waters off its east coast, the report said, without specifying a date. The ministry's unnamed spokesman accused the United States, South Korea and Japan of "getting frantic" with military exercises, warning of "catastrophic consequences." The three countries' navies held their three-day regular drills until Wednesday, alongside the U.S. aircraft carrier Carl Vinson, as part of efforts to improve their responses to Pyongyang's evolving nuclear and missile threats. "Our army's underwater nuke-based countering posture is being further rounded off and its various maritime and underwater responsive actions will continue to deter the hostile military maneuvers of the navies of the U.S. and its allies," the North Korean ministry spokesman said in a statement, according to KCNA.
Persons: KCNA, Carl Vinson Organizations: U.S, Korean Locations: Korea, South Korea, United States, Japan, North Korea
SEOUL, South Korea (AP) — North Korea said Friday it had tested a purported underwater nuclear attack drone in response to a combined naval exercise between South Korea and the United States and Japan this week, as it continues to blame its rivals for raising tensions in the region. The alleged drone test came days after North Korean leader Kim Jong-un declared he would scrap his country’s long-standing goal of a peaceful unification with South Korea and that his country would rewrite its constitution to define South Korea as its most hostile foreign adversary. North Korea’s alleged nuclear attack drone, which the North first tested last year, is among a broad range of weapon systems demonstrated in recent years as Kim expands his arsenal of nuclear-capable weapons. South Korea's military has insisted the North has exaggerated the capabilities of the drone, which is supposedly designed to carry out strikes on enemy vessels and ports. The North’s military said it conducted the test in the country’s eastern waters in response to the U.S., South Korean, and Japanese naval drills, which wrapped up its three-day run Wednesday in waters south of Jeju island.
Persons: Kim Jong, Kim, , Organizations: North, South, North’s Defense Ministry Locations: SEOUL, South Korea, North Korea, United States, Japan, U.S, South, Jeju, DPRK
By Hyonhee ShinSEOUL (Reuters) -North Korea has conducted a test of its underwater nuclear weapons system in a protest against this week's joint military drills by South Korea, the United States and Japan, state media KCNA said on Friday. The test of the "Haeil-5-23" system, a name North Korea has given to its nuclear-capable underwater attack drones, was carried out by the defence ministry's think tank in the waters off its east coast, the report said, without specifying a date. The ministry's unnamed spokesman accused the United States, South Korea and Japan of "getting frantic" with military exercises, warning of "catastrophic consequences." North Korean state television has aired previous atmospheric explosion tests, which have been monitored by U.S. and South Korean authorities, but the reported underwater weapon has not been independently verified. The latest reported underwater test came days after North Korea fired a new intermediate-range, solid-fuel hypersonic missile, which Washington, Seoul and Tokyo condemned as a serious violation of U.N. Security Council resolutions.
Persons: Shin, KCNA, Carl Vinson, Vladimir Putin, Hyonhee ShinEditing, Ed Davies, Michael Perry Organizations: U.S, Korean, North Locations: Shin SEOUL, North Korea, South Korea, United States, Japan, KCNA, North Korean, Washington, Seoul, Tokyo, Russia, Moscow
North Korea claimed Monday to have tested a hypersonic glide missile. North Korea is continuing to menace US allies in the region. AdvertisementNorth Korea claims to have successfully tested a solid-fuel missile tipped with a hypersonic weapon that could be used to target US bases and allies in the region. AdvertisementA previous round of North Korean hypersonic missile tests back in 2021 and 2022 prompted concerns that the weapons could be so sophisticated, they would be a potential game changer. The US and South Korea have increased joint military exercises in the region.
Persons: , Lionel Fatton, Kim Jong Un Organizations: Service, Korean Central News Agency, Agence, France Presse, Carnegie Endowment, International Peace, Reuters, Japanese, Webster University, Meiji University, CNN Locations: Korea, North Korea, France, Guam, Japan, Russia, China, Switzerland, Korean, South Korea, Ukraine
AdvertisementYouTuber Dennis Wang is one of the first drivers to document a cross-country road trip in the much-hyped Cybertruck, just weeks after the first vehicles were shipped to customers. But he ran into some issues along the way — including difficulties with charging and a glitch in Tesla's infotainment system. He also said that closing the tonneau, the cover that spans the back of the truck, helped improve the Cybertruck's range. But despite the hiccups along the way, Wang enjoyed the experience, especially the spacious cabin and comfort of the vehicle. "It's a fantastic truck," Wang said.
Persons: Dennis Wang, Tesla, , Wang, Joshua Tree, he's, Wang isn't, Dennis Wang Plus, YouTuber Organizations: Service, YouTube, Bloomberg Locations: Austin , Texas, California, Texas
Beyond Trump’s strong overall lead, the survey showed the former president attracting 51% support from Iowa evangelicals, far more than he drew in 2016. But Trump won the state by capturing 44% of evangelicals without a degree, double his share among the South Carolina evangelicals with a degree. This year, DeSantis will likely need to shake Trump’s hold on evangelical voters if he is to finish well enough in Iowa to remain a viable candidate after Monday. Asked if DeSantis can win evangelicals in Iowa on Monday, Vander Plaats pointedly responded: “I think he’ll do very well.”Compared to DeSantis, Haley isn’t betting on evangelical voters nearly as heavily in Iowa. Even in the most optimistic scenario for DeSantis or Haley, Trump’s hold on evangelicals without a college degree looks like a rock in the road for them.
Persons: Donald Trump’s, , Texas Sen, Ted Cruz, Ron DeSantis, Cruz, DeSantis, Trump, , Gary Bauer, Nikki Haley, Mike Huckabee, Rick Santorum, Huckabee, Santorum, John McCain, Mitt Romney, Romney, Gary Langer, Trump’s, “ There’s, ’ ”, Bob Vander Plaats, Vander Plaats, Haley isn’t, Rubio, Haley, Robert P, Jones –, “ Trump, ” Jones, Jones, , ” Bauer, you’ve Organizations: CNN, Yorker, Trump, Texas, Florida Gov, GOP, Des Moines Register, NBC, South Carolina Gov, Republican, McCain, ABC News, Edison Research, , Public Religion Research Institute, Survey, College, New York Times, The New York Times, Democrats Locations: Iowa, Florida, The Iowa, Nevada , Missouri , Alabama, Georgia , Tennessee, Virginia , Michigan , Mississippi, North Carolina, South Carolina, Carolina, New Hampshire, American, America
3D render Da-kuk | E+ | Getty ImagesJapan is stepping up efforts to ensure its listed companies become more efficient with capital allocation and increase shareholder returns this year. "It's not just the Tokyo stock exchange, but the entire Japan government is pushing for better corporate governance right now," said Toru Yoshikawa, a business professor at Waseda University in Tokyo. watch nowWith this move, the onus also falls on Japan's government to ensure steady and reliable returns from Japan's companies. Corporate governance pushMonday's disclosures will be based on information as of December and the releases will be a monthly affair. "If rival companies are doing great improvements in corporate governance, others will tend to follow that move."
Persons: It's, Toru Yoshikawa, Fumio, Yoshikawa, Warren Buffet, Yunosuke Ikeda, Goldman Organizations: Getty, Japan, TSE, Waseda University, The Tokyo Stock Exchange, kickstarted, Japan Inc, Nippon, Savings, Corporate, Tokyo Stock Exchange, CNBC, Toyota, Goldman Sachs Locations: Japan, Tokyo, Denso, Goldman Sachs Japan
I sometimes struggle to follow the advice I give as a pediatrician about how to best raise kids. She's been doing this for days — and I don't feel the least bit guilty. All it's really going to do is make parents feel even more like they're not measuring up. And if I can't follow half the advice I'm supposed to give, where does that leave all the other parents? Let your kids know ahead of time which adults will take them to school and pick them up.
Persons: , She's, chiding, Will, it's, she's, I'm Organizations: Service, American Academy of Pediatrics
New York CNN —The Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures price index, measured 2.6% annually in November. So, getting that number down to the Fed’s 2% target should happen in no time, right? That’s because much of the run-up in inflation came from pandemic-induced supply chain disruptions and unusual spikes in demand. The reason is that as inflation cools more, the remaining components that work to keep inflation above the Fed’s target are increasingly “sticky,” meaning they’re the least responsive to changes in market conditions. And it’s so far, so good.”That said, though it’s not the Fed’s go-to inflation gauge, Thursday’s CPI report showed that the road to 2% could come with more bumps.
Persons: , John Cochrane, Jerome Powell, Gregory Daco, That’s, Powell, Cochrane, , ” Paul Donovan, ” Powell, I’d, it’s Organizations: New, New York CNN, Hoover Institute, , University of Chicago, CNN, UBS Global Wealth Management Locations: New York, EY
Central bank blunders undermine tough rate talk
  + stars: | 2023-12-05 | by ( Francesco Guerrera | ) www.reuters.com   time to read: +8 min
Comments by central bankers underline their desire to keep interest rates high until price growth quiesces. Policymakers’ recent mistakes mean they will struggle to convince investors their tough talk is real. U.S. Federal Reserve Chair Jay Powell says his fellow policymakers are “not thinking about rate cuts at all”. In May, after another U.S. regional bank failure, markets concluded that the Fed’s rate hike at the beginning of that month would be its last. Respected central bankers might be able to convince markets that these numbers don’t portend imminent rate cuts.
Persons: Jay Powell, Christine Lagarde, Andrew Bailey, Powell, backtrack, , Lagarde, Treasuries, BoE, Bailey, Ben Bernanke, Jacob Frenkel, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, Traders, U.S . Federal, European Central Bank, Bank of England, titans, Deutsche Bank, Treasury, Reuters Graphics Reuters, LSEG, Silicon Valley Bank, Fed, ECB, Bank of Israel, Federal Reserve, European, Thomson Locations: Silicon, Bailey, United States, Ukraine, Central
and long-shot presidential candidate Doug Burgum underscored a harsh political reality Monday as he suspended his campaign for the White House: Money can get you noticed. But as with most other self-funded candidates, his money didn't buy support. A study by the nonpartisan Center for Responsive Politics earlier this year found that few self-funded candidates in the 2022 midterms actually won their elections. But self-funded candidates "were some of the biggest losers" in 2022, with just two of the top 10 self-financing candidates pulling out a win, Open Secrets found. As he departed the race Monday, Burgum said he had changed the debate by getting contenders to talk about energy policy.
Persons: Doug Burgum, Burgum, Joe Biden, he'd, , Donald Trump, Nikki Haley, Ron DeSantis, Trump, , Barack Obama, midterms Organizations: North Dakota Gov, White, Republican, Republican National Committee, University of Alabama, GOP, Trafalgar Group, Software, Microsoft, South, Responsive Locations: Tuscaloosa, Burgum, Milwaukee, California, South Carolina, Florida
Harris was delayed because she had been on the telephone with the emir of Qatar regarding the Israel-Hamas war. Political Cartoons View All 1277 ImagesThe awkward double booking during Harris’ hastily arranged Dubai trip illustrates a set of tricky — and at times potentially contradictory — policy and political crosscurrents. The Biden administration with its diverse coalition of voters is trying to navigate these crosscurrents just as the 2024 presidential race is heating up. In Dubai, Harris said it was “our duty and our obligation” to do more to move the world away from fossil fuels and limit the increase in average global temperatures. “President Biden and his administration should show their statement in action,” said Nihad Awad, executive director of the Council on American-Islamic Relations.
Persons: Joe Biden, Kamala Harris, Kamala Harris ”, Harris, Harris ’, Biden, , ” Harris, Donald Trump, JL Andrepont, ” Andrepont, Amber Sherman, ” Sherman, , Nihad Awad, John Kirby, Israel, “ There’s, ” Kirby, ___ Boak Organizations: United Arab Emirates, United Arab, Republican, Democratic, The Associated Press, NORC, for Public Affairs Research, Black Caucus, Young Democrats of, Islamic, White House Locations: DUBAI, United Arab, Dubai, United Arab Emirates, Washington, Qatar, Israel, Gaza, U.S, Palestine
Russia has increasingly had to turn to a so-called "ghost fleet" of aging tankers to ship oil and avoid the cap. Panama, the Republic of the Marshall Islands, and Liberia have allowed some of those ships to carry their flags, according to Lloyd's List Intelligence and oil analysts. Lloyd's List Intelligence has said nearly 40% of the about 535 dark-fleet tankers have registered ownership via companies incorporated in the Marshall Islands. It also seeks to give leverage to countries buying oil outside the price-cap coalition to get discounted oil from Russia. The group is asking Liberia and the Marshall Islands to increase awareness among those in the trade that its flag should not be used for tankers transporting oil priced above the cap.
Persons: Dado Ruvic, Lindsey Whyte, John Berrigan, Brian Nelson, Timothy Gardner, Simon Webb, Rosalba O'Brien Organizations: REUTERS, Rights, Marshall, Intelligence, Britain's Treasury, U.S . Treasury, Reuters, EU, Thomson Locations: WASHINGTON, U.S, Liberia, Marshall Islands, Panama, Moscow, Ukraine, Russia, China, India, Republic, Marshall, Washington, British
DUBAI, United Arab Emirates (AP) — Vice President Kamala Harris engaged in a speed round of diplomatic talks with Arab leaders on Saturday where she focused on shaping the outlook for a post-conflict Gaza while calling on Israel to do more to protect Palestinian civilians from the “devastating” bombardment. She made a hastily planned trip to the United Arab Emirates as the top American representative at the U.N. climate conference but the Israel-Hamas war was a main objective of her visit. She met with leaders of the United Arab Emirates, Egypt and Jordan and spoke by phone with Qatar’s emir. Then she swept briskly through the hallway to a waiting motorcade to take her nearby for meetings with Arab leaders. The vice president said she also talked with Arab leaders about three key elements for a post-conflict Gaza: reconstruction, security and governance.
Persons: Kamala Harris, Israel, ” Harris, Harris, Joe Biden, wasn't, Harris wouldn't, Biden, , Josh Boak Organizations: United Arab Emirates, , United, United Arab, Health Ministry, Palestinian, Palestinian Authority, West Bank Locations: DUBAI, United Arab, Gaza, Israel, United Arab Emirates, Egypt, Jordan, , United States, Dubai, U.S, Washington
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