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Move over Taylor Swift, summer's hottest ticket is a "Barbie" and "Oppenheimer" double feature. AMC Theaters this week announced that more than 20,000 members of its AMC Stubs loyalty program have purchased tickets to watch the unlikely cinematic pairing on the same day. Greta Gerwig's "Barbie" and Christopher Nolan's "Oppenheimer" have been slated for a July 21 release for the past year. The juxtaposition between the bright and bubbly "Barbie" and the dour, nuclear bomb drama has led internet users to declare "Barbenheimer" a must-see double feature. "I want to see both 'Barbie' and 'Oppenheimer,'" Cruise said.
Persons: Taylor Swift, Oppenheimer, Greta Gerwig's, Christopher Nolan's, Elizabeth Frank, Barbie, Tom Cruise, Cruise, Warren Buffett Organizations: AMC, Variety
Hit and missOf course, quality is a big factor in a film's box office success, too. That pullback has already begun with the 2023 summer movie season. Starting the first Friday in May and running until Labor Day weekend, the summer movie season typically represents 40% of all movie ticket sales for the year. So far through July 2, the summer box office has tallied $1.88 billion. In summer 2022, the box office got a boost from Tom Cruise's "Top Gun: Maverick," a Paramount and Skydance feature.
Persons: that's, Mike Polydoros, clamoring, It's, Universal's, Mario, haven't, Shawn Robbins, Robbins, Tom Cruise's, Paul Dergarabedian, Strange, Indiana Jones, Ruby Gillman, Oppenheimer, Dergarabedian, Kraven, Hunter Organizations: PaperAirplane Media, CNBC, Warner Bros, Mario Bros, Guardians, Galaxy, Sony, BoxOffice.com, Labor, Paramount, Comscore, Universal, Disney, Lionsgate
French and euro zone inflation data is due on Friday. Economists polled by Reuters expect euro zone inflation to fall to 5.6% in June from 6.1% in May. "The June figures in Germany only interrupt the downward trend in the inflation rate and do not mark its end," said Ralph Solveen, senior economist at Commerzbank. Non-harmonized consumer prices rose 6.4% in June year-on-year, following a 6.1% rise in the previous month. The year-on-year rebound in German inflation midway through the second quarter is almost exclusively due to base effects from last year's temporarily-reduced rail fare, said Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics.
Persons: Analysts, Ralph Solveen, year's, Claus Vistesen, Carsten Brzeski, Commerzbank's Solveen, Brzeski, Maria Martinez, Friederike Heine, Miranda Murray, Angus MacSwan, Conor Humphries Organizations: Union, Reuters, Commerzbank, Pantheon, European Central Bank, ING, Economists, ECB, Thomson Locations: BERLIN, Spain, Italy, Germany
Cities and regions left behind by bygone industries can now apply for funding to revitalize jobs. The Biden administration is opening up applications for its Recompete Pilot Program. Under that program, a handful of "distressed communities" can receive at least $20 million. It's called the Recompete Pilot Program, and it's meant to pump funds into economically distressed areas. According to research from Timothy J. Bartik for the Brookings Institute, nearly a sixth of the country's population lives in distressed communities.
Persons: Biden, , It's, Biden's, Gina Raimondo, Timothy J, Bartik, Derek Kilmer, it's, Kilmer, what's, Alejandra Castillo Organizations: Service, Economic Development Administration, Brookings Institute, White, Commerce, Economic Development Locations: Scranton , Pennsylvania, Washington
The risk of too great a concentration in big cap tech stocks is again back in focus. Many have been saying that a 5%-10% pullback is overdue, certainly for big cap tech. The correction may already be starting: many big tech names, particularly semiconductors, were down in the high- to mid-single digits last week. (market cap vs. country GDP) Apple $2.9 trillion France $2.9 trillion Source: Wells Fargo Microsoft bigger than Italy? "Using 1999 as our example, we wonder how much longer the current chart (Apple > France and Tesla > Taiwan) is sustainable," he writes.
Persons: Today's Russell rebalance, Wells, Chris Harvey, Harvey —, Russell, There's, David Faber, Wells Fargo's Chris Harvey, Tesla, Harvey, Dan Ives, Ives Organizations: NYSE, Nasdaq, Intel, AMD, Broadcom, Apple, Microsoft, Nvidia, Wells, today's Tech, General Electric, Cisco, Walmart, Nokia, Pfizer, ExxonMobil, IBM, Citigroup, Tesla, Big Tech Locations: France, Italy, Mexico, Taiwan, Wedbush
Meal vouchers will be sent for delays of three hours or more and hotel vouchers for overnight delays. On Thursday, United Airlines said that it will start sending meal and hotel vouchers via phone to passengers whose flights have been disrupted. Disruptions include issues pertaining to maintenance or technology— or what United spokesperson Amy Fisher called "controllable" delays— which means weather related issues don't count. Flights for those with overnight delays will be rebooked for the next day, she added. "We've been automatically rebooking customers and providing meal and hotel vouchers for years," Fisher said.
Persons: Amy Fisher, Fisher, We've, Pete Buttigieg Organizations: Department of Transportation, Morning, United Airlines
Retired Lt. Gen. Ben Hodges told Newsweek that Ukraine could retake Crimea before the summer ends. Hodges believes recapturing Crimea would be essential for Ukraine to rebuild its economy. "My principal caveat still remains that if the United States were to provide what Ukraine needs, then Ukraine could actually still liberate Crimea by the end of this summer," retired Lt. Gen. Ben Hodges told Newsweek on Wednesday. The Biden administration has held back from sending long-range weapons to Ukraine that have the capacity to strike targets in Russia. US officials told Ukraine in February that they weren't able to send over the ATACMS due to insufficient supply, per Politico.
Persons: Ben Hodges, Hodges, , Pat Ryder, Biden, Vladimir Putin Organizations: Newsweek, Service, US Army, State Department, Pentagon, Tactical Missiles Systems, Ukraine Locations: Ukraine, Crimea, United States, Russia, Sevastopol, Saki, Russian, St . Petersburg, Belarus, Poland, Russians, Mykolaiv, Europe
[1/5] Ukrainian serviceman prepares an AN/TWQ-1 Avenger mobile air defence missile system for work during his combat shift, amid Russia's attack on Ukraine, outside of Kyiv, Ukraine June 16, 2023. "When they arrive in one night, both (drones) and cruise missiles fly by, that's the most difficult." On Friday, Ukraine said it shot down all six cruise missiles and six hypersonic Kinzhal missiles fired at targets in and around the capital. "One of our top priorities, when it comes to transforming our armed forces and building up our air defence capability is creating a three-layered air defence system," said Sak. By contrast in April, the Air Force said it had shot down 73 drones and 21 cruise missiles.
Persons: Anna Voitenko, Volodymyr Zelenskiy's, Yuriy Sak, Sak, Tom Balmforth, Angus MacSwan Organizations: REUTERS, U.S, TIME, Patriots, Patriot, Air Force, Thomson Locations: Ukraine, Kyiv, KYIV, U.S, Russia, Europe, Odesa, West, Washington, Australia
Auto companies need EV battery supply more than ever, but the costs are adding up. Prices and a push to use local materials have carmakers investing in in-house battery supply. That means car companies are seeking an alternative and racing to secure their battery supply in the US. But the pandemic — and other disruptions, like natural disasters — shed a light on just how vulnerable that can also make auto companies. It's complicated and time-consuming, but may ultimately be the best way car companies can get closer to lowering the cost of new EVs.
Persons: Tesla, they've, They've, Peter Maithel, Julian Stratenschulte, There's, We've, Matt Sculnick, Nomura, Rivian, , Alvarez, Tony Lynch, Kelley Organizations: Auto, EV, Morning, Infor, Volkswagen, Getty, Marsal, GM, Ford Locations: Europe, Asia, China, Illinois
Europe's biggest gas field is set to close permanently in October, Bloomberg reported. The news sparked a 30% jump in benchmark European natural gas futures on Thursday. Earthquakes near the Groningen field in the Netherlands have damaged thousands of homes over the years. The six-decade operation has been an important energy source for much of Western Europe. Europe has since stockpiled natural gas to levels not seen in years, helped by a mild winter, but this summer's hot weather is boosting demand, while outages in Norwegian gas fields and increased competition for liquefied natural gas are also adding to price pressures.
Persons: , Mark Rutte Organizations: Bloomberg, Earthquakes, Service Locations: Groningen, Netherlands, Western Europe, Europe, Russia, Ukraine
NEW YORK, June 13 (Reuters) - For American kids, summer camps can conjure up some idyllic experiences: Canoeing on lakes, munching on s’mores by campfires. THE EARLY BIRD GETS THE WORMMany day camps open registration in January, February and March, and overnight camps often start the previous fall. Indeed, in 2022 the average day camp cost rose to $87 per day, and the average overnight camp to $172 a day, according to an ACA survey of participating camps. “Investigate if your employer provides any summer camp assistance as part of their benefits package. Says Rosenberg: “Summer camp is hot again.”Editing by Lauren Young Follow us @ReutersMoneyOur Standards: The Thomson Reuters Trust Principles.
Persons: , Ellen Sheng, it’s, ” Sheng, , Tom Rosenberg, Rosenberg, ” Rosenberg, Anna Sergunina, ” Sergunina, Hunt, Says Rosenberg, Lauren Young Organizations: YORK, campfires, American Camp Association, YMCA, , Thomson, Reuters Locations: Summit , New Jersey, Greater New York, Los Gatos , California
Auto execs are nervous about transitioning to EVs, consulting firm KPMG found in a new survey. Auto executive confidence in high EV sales in the US by 2030 dropped from last year. In a survey of more than 900 auto industry execs published in December, KPMG found that respondents think only 37% of new vehicle sales in the US will be electric by 2030. The survey results come two days after Toyota's CEO came under fire for comments that indicate he's not all that sold on EVs just yet. The KPMG survey also reported that 76% of respondents said inflation and high-interest rates will impact their business in 2023.
Persons: That's, Biden, EVs, Kelley, Akia Toyoda, — that's Organizations: KPMG, Auto, Toyota's, Wall Street Locations: China
The review is merely to note that the beginning of a potential bull market is a process, not a moment, occurring as the weight of the evidence gradually shifts in favor of the optimists. A new bull market, even if in place, doesn't always mean a timely sprint to hefty further gains. In a bear market, that's toppy; while in a bull market backdrop, such a level of optimism is fairly routine. In a bear market, 14 is "too low," In a bull market, it's middling. The S & P 500 has built a cushion with which to absorb routine pullbacks without jeopardizing the broader trend.
Persons: JFK, didn't, , doesn't, Stephen Suttmeier, Bull headwinds, I've, they've, there's Organizations: Bank of America, Investment Group, Lehman, Investment, American Association of Locations: New York,
The Ukrainians are armed with Western weapons, including tanks and armored vehicles, but they are facing tough Russian defenses. There appear to be Ukrainian offensive operations against Russian defenses in the Zaporizhzhia and Donetsk oblasts, among other locations along the front lines. As some experts have said, the stakes for the Ukrainian offensive are high. Unlike last summer's sweeping offensive around Kharkiv, Ukrainian forces are facing much more heavily defended positions. The think tank added, as Russia makes claims of thwarting Ukraine's offensive, that "the success or failure of this phase may not be apparent for some time."
Persons: , Klaus, Dietmar Gabbert, Mark Milley, Laurent van der, ISW, Volodymyr Zelenskyy Organizations: Service, Ukrainian, Washington Post, Financial Times, Kyiv hasn't, ABC News, NBC, Institute for, Bundeswehr, Getty Images, US, Joint Chiefs of Staff, CNN, New York Times, 81st Airmobile Battalion, Le Monde, Russian Ministry of Defense, Wall Locations: Ukraine, Donetsk, Russia, Russian, Klietz, Germany, Ukrainian, Kharkiv, Seversk, Novopokrovka
Wall Street's succession summer
  + stars: | 2023-05-30 | by ( Kaja Whitehouse | ) www.businessinsider.com   time to read: +5 min
But first, it's the summer of succession — and no, we're not talking about the TV show. Wall Street CEOs pretend that succession planning is another chore, like hashing out the annual budget or organizing an earnings call. But behind the boring press announcing their succession plans is often a story of intrigue and drama. And then, of course, there's Jamie Dimon, Wall Street's longest-serving CEO. Earlier this week, Insider highlighted 17 young analysts poised to shine.
Or, in other words, the Taylor Swift look. “This has become a wild year already for us because of Taylor Swift,” said Johnson, CEO of Hazel & Olive. Right: Taylor Johnson, founder and CEO of Hazel & Olive, wearing The Eras Sequin Fringe Dress. Taylor Swift performs onstage during night one of Taylor Swift | The Eras Tour at Nissan Stadium on May 05, 2023 in Nashville, Tennessee. Altar'd State stores have curated Taylor Swift looks for concert goers.
When it comes to the most in-demand concerts of the summer, there's Taylor Swift and then there's everybody else. The "Style" singer is the hottest act of the season according to StubHub, which on Friday released its 2023 Summer Tour Preview. 1 on the list, with tickets for her 24 "Eras" tour dates this summer selling for an average of $920 apiece. In fact, the $920 average selling price is a bargain in some locations. 7 P!NK — with her 33 tour dates selling at an average of $231 per ticket — are outselling the seven male artists in the top 10 by 50%.
The South Carolina House of Representatives is called back by Gov. "This is a great day for life in South Carolina, but the fight is not over. We stand ready to defend this legislation against any challenges and are confident we will succeed," Republican South Carolina Gov. The new law signed by South Carolina governor's will change that status, according to Caitlin Myers, an economics professor at Middlebury College. Over the past two months, Republican officials in North Carolina, South Carolina and Florida have pushed Virginia closer to being a regional outlier as a place with relatively permissive access.
The S & P 500 's range breakout last week may not signal a bull market ahead, Morgan Stanley warned. But he said that isn't enough to confirm a new bull market given there are signals warning otherwise. "Rather than a short squeeze, the market was driven by the biggest winners as more market participants convinced themselves the next bull market may have begun and they can't afford to miss it." .SPX 6M line The S & P 500's last six months Market fundamentals also aren't helping the bull case, he said. Excluding technology stocks, the S & P 500's price-to-earnings multiple is 18 times, still putting it in the top 15% of historical levels.
As climate change makes the region hotter and drier, years of consecutive drought have depleted groundwater reserves. CLIMATE CHANGE TRENDSouthern Europe is not alone in suffering severe water shortages this year. The Horn of Africa is enduring its worst drought in decades, while a historic drought in Argentina has hammered soy and corn crops. "In terms of the climate change signal, it very much fits with what we're expecting," said Hayley Fowler, Professor of Climate Change Impacts at Newcastle University. Some 90% of the mainland is suffering from drought, with severe drought affecting one-fifth of the country - nearly five times the area reported a year earlier.
Airlines scheduled a near-record 51,000 flights from June through August from the U.S. to Europe, according to airline data firm Cirium. The number of scheduled seats is the highest since 2018. Despite that increase in capacity across the Atlantic, fares are up sharply as airlines test travelers' appetites for trips abroad. JetBlue is flying to London's two largest airports from New York and Boston, and plans to launch service to Paris from New York in June. Delta plans to offer a record number of seats from the U.S. to Europe, up 20% from last summer.
What this means: Travelers can't necessarily bank on showing up spontaneously to a national park and getting the experience they desire. Record park visitation spurred reservationsTourists crowd into the Midway Geyser Basin on July 14, 2021 at Yellowstone National Park, Wyoming. One — Hot Springs National Park in Arkansas — saw record visitors last year. Overall visits to national parks jumped by 5% in 2022 versus the year prior, to 312 million recreation visits. These national parks require vehicle reservationsTraffic heading into Yosemite Village on Oct. 6, 2019, in Yosemite National Park, California.
Mass event will let hackers test limits of A.I. technology
  + stars: | 2023-05-10 | by ( ) www.cnbc.com   time to read: +6 min
But now its maker, OpenAI, and other major AI providers such as Google and Microsoft, are coordinating with the Biden administration to let thousands of hackers take a shot at testing the limits of their technology. Some are official "red teams" authorized by the companies to "prompt attack" the AI models to discover their vulnerabilities. Chowdhury, now the co-founder of AI accountability nonprofit Humane Intelligence, said it's not just about finding flaws but about figuring out ways to fix them. Building the platform for the testing is another startup called Scale AI, known for its work in assigning humans to help train AI models by labeling data. "Our basic view is that AI systems will need third-party assessments, both before deployment and after deployment.
[1/5] A field of grass is seen cracked by the drought during scorching summer temperatures in spring in Ronda, Spain April 27, 2023. REUTERS/Jon NazcaCORDOBA, Spain, April 28 (Reuters) - Mainland Spain and Portugal have broken temperature records for April, as the Iberian neighbours swelter in an early-season heatwave that has exacerbated a long drought in some regions. Spain's absolute April record remains the 40.2 C reached in 2013 on Gran Canaria in the Canary Islands. In neighbouring Portugal, the temperature in the central town of Mora reached 36.9 C, breaking the record of 36.0 C set in April 1945, its weather agency said. Temperatures started dropping on Friday in Portugal but the heatwave persisted in parts of Spain.
CNN —Anyone who has tuned in to the Azerbaijan Grand Prix has seen a tantalizing glimpse of what the capital Baku has to offer. This year’s Grand Prix comes at the height of spring, often said to be Azerbaijan’s most beautiful season. Juan Vilata/Alamy Stock Photo Explore Azerbaijan in spring Prev NextSummers in Azerbaijan are hot, so getting out of the city is a good idea. Alexander Melnikov/Alamy Stock Photo Explore Azerbaijan in fall Prev NextWrap up, because even at its coldest Azerbaijan still has plenty to offer. You’ll learn much more at the Azerbaijan National Carpet Museum in Baku.
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