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☆ Starbucks is betting big that Chipotle's CEO can make it special again. He'll have his work cut out for him.
▼ + stars: | 2024-08-13 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

Laxman Narasimhan, Starbucks' current CEO, will step down effective immediately from his roles as CEO and a member of Starbucks' board of directors, the company said. In his tenure at Chipotle, Niccol made several changes. He also oversaw an expansion of Chipotle's online-ordering options just before delivery and pickup became essential to the restaurant business early in the pandemic. The road ahead at StarbucksAt Starbucks, Niccol will face some challenges similar to those he took on at Chipotle. AdvertisementStarbucks sales have also fallen lately in China, which is home to nearly one-fifth of all the chain's stores.

Persons: —, Brian Niccol, Niccol, Laxman Narasimhan, Elliott, Chipotle, Brian, Melody Hobson, Peter Saleh, Saleh Organizations: Service, Starbucks, Business, Street, Elliott Investment Management, Taco Bell's, Wall Street, Analytical Research Locations: Chipotle, Denver, Orange County , California, China

☆ Wednesday's big CPI inflation report could mark a change in thinking for the Fed
▼ + stars: | 2024-08-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

watch nowThe PPI report, seen as a gauge of wholesale inflation, showed prices up just 0.2% in July and about 2.2% from a year ago. Still, investors are looking for the Fed at its September meeting to start cutting interest rates, considering that inflation is weakening and so is the labor market. Another benign inflation report "makes the Fed completely comfortable that they can shift their focus away from inflation and toward labor," said Tom Porcelli, chief U.S. economist at PGIM Fixed Income. There are cracks forming in the labor market backdrop." "I'm as curious about [Wednesday's] inflation report as anyone else, but I think it would take a real outlier to change the Fed's tune from 1) shifting to labor as its focus, and 2) seriously thinking about cutting in September," Porcelli said.

Persons: Jim Baird, Plante, Baird, Dow Jones, there's, Tom Porcelli, Porcelli Organizations: Walmart, Labor Department, Federal Reserve, Financial Advisors, PPI, Fed, Traders

☆ ‘I don’t want to die,’ Uvalde student told 911 dispatcher during mass shooting
▼ + stars: | 2024-08-12 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +7 min

Crosses with the names of shooting victims outside Robb Elementary School in Uvalde, Texas, on May 26, 2022. “I think he’s shooting kids.”But the offer arrived too late, coming just around the time that the shooting had ended and law enforcement officers killed Salvador Ramos. Former Uvalde school Police Chief Pete Arredondo and former school officer Adrian Gonzales have pleaded not guilty to multiple charges of child abandonment and endangerment. A Texas state trooper in Uvalde who had been suspended was reinstated to his job earlier this month. In an interview this week with CNN, Arredondo said he thinks he’s been “scapegoated” as the one to blame for the botched law enforcement response.

Persons: DALLAS —, Khloie Torres ’, ”, “, San Antonio, Brett Cross ’, Uziyah Garcia, Cross, weren’t, Jesse Rizo, Jacklyn Cazares, Jae C, Salvador Ramos, Ramos, ” “, Ramos ’, ” Armando Ramos, Pete Arredondo, Adrian Gonzales, Arredondo, he’s Organizations: DALLAS, Robb Elementary School, Associated Press, U.S . Border Patrol, Uvalde Police Department, Texas Department of Public Safety, . Justice Department, Police, CNN Locations: Uvalde , Texas, Khloie, South Texas, San, U.S, Austin, ”, Texas

☆ Hedge fund manager Eric Jackson thinks this AI stock can be his next back-from-the-dead tech pick
▼ + stars: | 2024-08-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Investors may want to keep an eye on this artificial intelligence stock resurrecting itself from the dead, according EMJ Capital's Eric Jackson. "I'm not saying they're going to $400 next week, but the worst is behind them from a macro sense." UPST 1Y mountain Upstart shares over the last year Upstart has been on a volatile ride since going public in December 2020. Shares slumped about 91% from October 2021 highs, and are down 14% so far this year, following a 209% surge in 2023. Shares have slumped 63% from their August 2021 highs but have surged 153% this year.

Persons: EMJ Capital's Eric Jackson, CNBC's, I'm, Jackson Locations: delinquencies, Covid

☆ CNBC Daily Open: Prequels, sequels and pixie dust
▼ + stars: | 2024-08-12 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The S&P 500 ended the week just 0.04% lower, while the Dow Jones Industrial Average slipped 0.6% and the Nasdaq Composite dipped 0.18%. At its lowest point on Monday, the S&P 500 was down nearly 10% from its recent high and the Nasdaq entered correction territory. [PRO] Low-volatility stocksDespite a wild week with steep sell-offs and concerns about Fed policy, markets rebounded showing resilience.

Persons: Disney, Indiana Jones, Carlos Tavares, Donald Trump, Sen, Elizabeth Warren, Elon Musk, Elon Musk's, Warren, Tesla, Robyn Denholm, Musk, CNBC's Pia Singh Organizations: CNBC, Wall, Dow Jones, Nasdaq, Magic, Hollywood, Inc, Animal Kingdom, Fiat Chrysler, France's PSA Groupe, Trump, Trump Media, SpaceX, Twitter Locations: U.S, Magic Kingdom, Disney's California, Michigan, Friday's

☆ Elon Musk initially said the Cybertruck would cost from $39,900. Now, you can't buy it for much less than $100,000.
▼ + stars: | 2024-08-12 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

The cheapest Cybertruck available right now is $100,000. Tesla quietly removed the option to order planned cheaper versions of the pickup. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen Elon Musk first unveiled Tesla's Cybertruck in 2019, he touted the futuristic pickup as a competitor to the Ford F-150 with a starting price of $39,900. Tesla has quietly removed the option to preorder the rear-wheel and all-wheel drive versions of the Cybertruck, according to an archived version of its website.

Persons: Tesla, —, Elon Musk, Tesla's Organizations: Service, Ford, Business

☆ Why fewer women are running for Congress this year
▼ + stars: | 2024-08-11 | by ( Simone Pathe | Hien An Ngo | ) edition.cnn.com time to read: +10 min

The number of Republican women running for the House this cycle dropped about 36% from 2022, while the number running for Senate dropped by about 45%, according to data from the Center for American Women and Politics at Rutgers. “With fewer competitive seats up for grabs, fewer candidates in both parties are running overall, but there is still very strong interest and enthusiasm from Republican women recruits,” Danielle Barrow, executive director of Winning for Women, which works to elect GOP women, said in a statement. That began to change after the 2018 midterms – the huge success enjoyed by Democratic women that year inspired more Republican women to run in 2020. Another possible reason why there may be fewer women running is what Dittmar calls toxicity. Quality over quantityThe decline in the number of candidates running, however, doesn’t necessarily mean there will be fewer women coming to Congress next year.

Persons: Kamala Harris, ”, Kelly Dittmar, “, they’re, –, ” Danielle Barrow, wasn’t, Dittmar, there’s, Lauren Zelt, ” Zelt, hasn’t, haven’t, Donald Trump, Elise Stefanik, Joe Kent, Leslie Lewallen, Kent, Lewallen, ” Dittmar, it’s, we’re, Women’s Barrow, York’s Alison Esposito, Carolina’s Laurie Buckhout, Nancy Dahlstrom, Julie Conway Organizations: CNN, Center for American Women, Rutgers, Republican, GOP, Democratic, Senate, Republicans, 118th, National Republican Congressional, PAC, Republican House, Congressional, House GOP, “ Locations: Washington’s

CNN —Alleged Sinaloa cartel co-founder Ismael “El Mayo” Zambada, in a statement released by his attorney, reiterated the claim he was “ambushed” and “kidnapped” by a son of notorious drug lord Joaquin “El Chapo” Guzmán and hand-delivered to US authorities. In a room with a table topped with fruit, Zambada said, Joaquín Guzmán gestured for the cartel boss to follow him to a dark room nearby. He said he was driven to a landing strip and forced onto a private plane, where Joaquín Guzmán removed his hood and bound him to a seat using zip ties. One version has Joaquín Guzmán duping Zambada to orchestrate their arrest, US law enforcement officials have told CNN. Zambada is expected to be transferred to New York from Texas, one official told CNN.

Persons: Ismael “ El, ”, “, Joaquin “ El, Zambada, El Chapo, El, –, Joaquín Guzmán, Ovidio Guzmán López, Security Rosa Icela Rodriguez, – “, ” Zambada, Joaquín, gestured, Guzmán Organizations: CNN, Ismael “ El Mayo ” Zambada, Security, U.S, US Locations: Sinaloa, Brooklyn, El, Mexico, El Paso , Texas, United States, “, ”, Culiacan, Zambada, Chicago, New York, Texas

☆ Stellantis laying off 2,450 plant workers due to discontinuation of Ram 'Classic' pickup truck
▼ + stars: | 2024-08-09 | by ( Michael Wayland | ) www.nbcnews.com time to read: +2 min

DETROIT — Automaker Stellantis plans to indefinitely lay off up to 2,450 U.S. factory workers later this year as it discontinues production of an older version of its Ram 1500 pickup truck in Michigan. It is produced alongside the Jeep Wagoneer and Grand Wagoneer at the Warren Truck Assembly Plant, located near Detroit. The current Ram 1500, which was recently updated for the 2025 model year, is produced at a nearby plant. “With the introduction of the new Ram 1500, production of the Ram 1500 Classic at the Warren [Michigan] Truck Assembly Plant will come to an end later this year,” the company said in an emailed statement. The discontinuation of the Ram 1500 “Classic” vehicle is not unexpected, but the company has not announced a vehicle to replace the truck.

Persons: Ram, Chris Feuell, Carlos Tavares Organizations: DETROIT, Warren, Assembly, United Auto Workers union, CNBC, Fiat Chrysler, France’s PSA Groupe Locations: Michigan, Detroit, Warren

☆ Stellantis Will Lay Off Up to 2,450 at Michigan Truck Plant
▼ + stars: | 2024-08-09 | by ( Neal E. Boudette | ) www.nytimes.com time to read: 1 min

Stellantis announced plans on Friday to lay off as many as 2,450 workers later this year at a pickup truck plant near Detroit, the latest sign of trouble for the trans-Atlantic automaker. The layoffs are expected to begin as early as Oct. 8 at the Ram truck plant in Warren, Mich., where production will be reduced to one shift from two, the company said on Friday. Stellantis’s chief executive, Carlos Tavares, has said the company needs to cut costs, and he has noted that at least one North American factory was operating at an unsatisfactory level. The company has been hit by sluggish sales in North America, where it generates most of its profits, as well as bloated costs and manufacturing inefficiencies. It reported last month that profits in the first six months of 2024 fell by nearly half to 5.6 billion euros (about $6 billion).

Persons: Stellantis, Stellantis’s, Carlos Tavares Organizations: Atlantic Locations: Detroit, Warren, Mich, North America

☆ China's consumer prices pick up more than expected in July, up by 0.5%
▼ + stars: | 2024-08-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's consumer prices rose by a more-than-expected 0.5% in July from a year ago, boosted by a surge in pork prices, according to data from the National Bureau of Statistics released Friday. Analysts polled by Reuters had expected a slight pickup in the consumer price index to 0.3% in July from a year ago, versus 0.2% in June. Prices of pork, a widely consumed food staple in China, surged by 20.4% year-on-year in July. Pork prices play a significant role in China's consumer price index, but can be prone to large swings due to disease or other factors affecting production. Core CPI, which strips out food and energy prices, rose by 0.4% year-on-year in July.

Persons: That's Organizations: National Bureau of Statistics, Reuters, CPI Locations: Beijing, BEIJING, China

☆ Mortgage rates plunge to lowest level in more than a year
▼ + stars: | 2024-08-08 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington CNN —US mortgage rates plummeted this week after weaker-than-expected employment data raised the odds of the Federal Reserve cutting interest rates next month. The standard 30-year fixed-rate mortgage averaged 6.47% this week, mortgage financing giant Freddie Mac said Thursday. Mortgage rates have steadily fallen over the past several weeks since reaching a 2024 peak of 7.22% in early May. Mortgage rates track the benchmark 10-year US Treasury yield, which moves in anticipation of the Fed’s decision on interest rates. Lower mortgage rates and a bigger housing stock will eventually entice more buyers to eventually enter the market.

Persons: Freddie Mac, That’s, ”, Sam Khater, Freddie Mac’s, “ Homebuyers, ” Lawrence Yun, Lisa Sturtevant, “ Organizations: Washington CNN, Federal Reserve, Las, P Global, Harvard Joint Center for Housing Studies, CNN, Treasury, National Association of Realtors, Fed, NAR, “, Bright MLS Locations: New York, San Diego, Las Vegas, Tampa, Denver, Minneapolis, United States

☆ Americans just can’t quit their giant, gas-burning trucks
▼ + stars: | 2024-08-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

A ‘harsh reality’ for EVsFord likes to brag about its growing EV sales, but its profit is still primarily coming from the sales of gasoline powered trucks and SUVs. Ford isn’t the only automaker pulling back on its EV plans and making new investment in ICE vehicles. This is not to say that the traditional automakers are dropping their EV plans altogether or that EV sales are falling. But EV sales, which initially grew at a double-digit pace, haven’t shot up exponentially as automakers hoped or expected. That uncertainty about the future of US EV incentives prompted automakers to reconsider their earlier EV plans.

Persons: Ford, ” Ford, Jim Farley, hasn’t, EVs Ford, ”, Ivan Drury, Mary Barra, EVs, Stellantis, haven’t, Tesla, Donald Trump, Elon Musk, Carlos Tavares Organizations: New, New York CNN, EVs, Canadian, Ford, Super, Kentucky, Super Duty, Ford’s, Ford Expedition, GM, ICE, United Auto Workers, “ Locations: New York, Oakville , Ontario, Toronto, Mexico, Oakville, Kentucky, Ohio, EVs, United States, Edmunds, North America, Europe

☆ A boomer lives on $1,800 monthly in Social Security and worries about her future: 'What am I going to do?'
▼ + stars: | 2024-08-07 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

Miller lives on about $1,800 a month in Social Security income, according to documents viewed by Business Insider. AdvertisementSince she began receiving Social Security several years ago, Miller has been doing her best to live on a fixed income. She said she can afford most of the healthcare she needs through Medicare, the federal health insurance that's typically attached to Social Security. Are you living on a fixed Social Security income? How have you made the decision to enroll in Social Security early or late?

Persons: Ann Miller, Lizzy Rocket —, Miller, She's, —, she's, that's, hasn't, There's, Lizzy, I've Organizations: Service, Business, Social Security, Survey, SNAP, Medicare Locations: Ellensburg , Washington, Seattle

☆ CNBC Daily Open: Markets fall with Japan stocks in bear territory; Berkshire's cash hoard at record high
▼ + stars: | 2024-08-05 | by ( Kevin Lim | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Jobs shock hits stocksU.S. stocks plummeted on Friday after a weaker-than-expected jobs report added to fears of a recession. The Nasdaq Composite dropped 2.43% and is now in correction territory, having declined more than 10% from its recent high. Asian stocks plungeAsian stocks continued to sell-off on Monday, with the Japanese market confirming a bear market. The stocks had to pass several criteria, including receiving five or more earnings upgrades in the past three months.

Persons: Topix, Taiwan's Taiex, Warren Buffett Organizations: New York Stock Exchange, CNBC, Dow Jones Industrial, Nasdaq, Treasury, Federal, Nikkei, CSI, Berkshire Hathaway's, Apple . Berkshire, Exxon, Chevron, CNBC Pro Locations: New York City, China, Apple ., Berkshire, Guyana, U.S, San Ramon , California, Houston , Texas

☆ Ford turns 'dirty' business into a profit driver. GM and Stellantis are taking notice
▼ + stars: | 2024-08-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +10 min

Many fleet sales, especially daily rentals, have historically been viewed as a negative for auto companies. But Ford has proven that's not always the case by breaking out financial results for its "Ford Pro" fleet business. Ram, GM retoolAs Ford touts its fleet business, its closest rivals have amped up their operations. It launched "GM Envolve" last year, its overhauled fleet and commercial business focused on fleet sales, digital telematics and logistics for commercial customers. EV goalsGM Envolve includes the company's EV commercial business BrightDrop, which was folded back into the automaker last year instead of it acting as a subsidiary.

Persons: Mark Hazel, It's, Ford, Ferrari, Jim Farley, Wolfe, Joe White, Farley, BofA's John Murphy, Ram, Christine Feuell, Stellantis, Ram Ram, Ken Kayser, Sandor Piszar, Motors, Piszar, EV600 Organizations: Ford DETROIT, U.S, automakers, Ford Motor, General Motors, Chrysler, P Global Mobility, Ford, Ford Pro, Wolfe Research, North, GM, Ford Super Duty, Reuters, GM retool, CNBC, Software, Stellantis, GM Envolve, Sierra, GM Fleet, EV Locations: Dearborn , Michigan, U.S, North America, Europe, Kentucky, Louisville , Kentucky, Stellantis, Detroit

☆ China's naval commandos rode electric skateboards into a combat exercise with drones disguised as birds, then left in a pickup truck
▼ + stars: | 2024-08-05 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

Chinese state TV showed armed commandos riding electric skateboards in a combat exercise. The naval special forces also deployed drones designed to flap like an eagle and a sparrow. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChina's special forces showcased electric skateboards, jet surfboards, and other gadgets in a combat demonstration televised on Thursday.

Persons: — Organizations: Service, China Military TV, Nanchang Infantry Academy, Jiaolong Commandos, Business Locations: Jiangxi

Chase Sapphire Reserve® OverviewThe Chase Sapphire Reserve® is one of the best travel rewards credit cards of all time. Chase Sapphire Lounges will be available to Chase Sapphire Reserve® cardholders and all Priority Pass members. Chase Sapphire Reserve® vs. Chase Sapphire Preferred® CardIf you're trying to decide between the Chase Sapphire Reserve® and Chase Sapphire Preferred® Card, you'll want to decide if each card's annual fee is justified based on your travel and spending habits. Chase Sapphire Reserve® Cardholder InsightsAs part of our analysis of the Chase Sapphire Reserve®, we've considered discussions across various forums, including notable mentions on Reddit and FlyerTalk. Chase Sapphire Reserve® Frequently Asked QuestionsWhat credit score do you need to get the Chase Sapphire Reserve®?

Persons: Chase, Chase Travel ℠, you'll, Sapphire, John F, Chase Sapphire, You'll, Uber Cash, we've, you'd, you've, they'll, David E, David, —, Read, Katherine Fan, Katherine, Guy, Fortune, Katherine moonlights, she's, She's, Angela Fung Organizations: Business, American, Chase, Chase Travel, Sapphire, Chase Sapphire, TSA, FDIC, Chase Dining, American Express, Hong Kong International Airport, New, Kennedy, LaGuardia, Rental Insurance, Avis, Avis , National, Emergency, Transportation, Sapphire Reserve, Reserve, Capital, Venture, Centurion, overpaying, Yorker, Muhlenberg College, University of Edinburgh, Twitter, Finance, Cards, CNN, Forbes, Wall, Dallas Morning News, Newsweek, Nasdaq, MSN, Yahoo, SXSW, Austin American, Statesman, University of Texas, National Taiwan University Locations: DoorDash, airfare, Boston, Austin, Canada, Avis ,, Seattle, Redbird, Los Angeles, Healdsburg , California, New York City, Chicago, Reddit, Dallas , Denver, Dulles, Las Vegas, New York, Hong Kong, Chevron, There's, Slotnick, Scotland, orcas, Antarctica, Japan, New Zealand, South Africa, Taiwan

However, because likely fewer people are willing to make the initial $550 investment in the Chase Sapphire Reserve, we'll crown the Sapphire Preferred Card in this category. Winner: Sapphire Preferred Card and Chase Sapphire ReserveTravel benefits and protectionsThe biggest difference between the Sapphire Preferred Card and the Chase Sapphire Reserve are the ongoing benefits. But as you can see, the Chase Sapphire Reserve trounces the Sapphire Preferred Card in a few categories. Winner: Chase Sapphire ReserveBonus points on Lyft ridesThrough March 2025, the Chase Sapphire Reserve offers 10x points on Lyft rides — a great return on spending — while the Sapphire Preferred Card offers 5x points. Chase Sapphire Preferred vs. Sapphire Reserve frequently asked questionsHow do the annual fees for the Chase Sapphire Preferred and Sapphire Reserve compare?

Persons: Chase, you've, Chase Travel ℠, there's, we'll, you'll, Sarah Silbert, Sarah, verticals, Guy Organizations: Chase Sapphire, Chase, Sapphire, Chase Travel, Hotel, FDIC, TSA, Target, Walmart, Chase Sapphire Reserve, Chase Dining, cardholders, Business, Reserve Elite, Sapphire Reserve, Southwest Airlines, United Airlines, Marriott, Hyatt, Finance, TPG, Engadget, Laptop Magazine, York, Banking Insurance, Sarah Lawrence College Locations: —, Chase, Chevron

☆ China’s slower growth hasn’t dragged down this consumer stock. Why it’s up 90% this year
▼ + stars: | 2024-08-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

"We expect 30 retail store openings this year in China and China market sales to grow 21% YoY in 2024." Raised target Morgan Stanley raised its price target to HK$52, up from HK$45 previously, after Pop Mart's profit alert. "Strong pickup in online channels and Pop Land were the key drivers, while offline sales growth also accelerated (driven by teens% [same-store sales growth])." Pop Land is a theme park that Pop Mart opened near a major city park in Beijing in September 2023. "The company is well-prepared to sustain its high sales growth momentum into 2H24F, in our view (we estimate 2H24F total sales growth of 39% y-y)," the Nomura analysts said.

Persons: Morgan Stanley, Pop Mart, they've, Michael Bloom Organizations: Pop Mart, Pop, Mart, Disney, Hong, Apple, Starbucks, HK, China Renaissance, Nomura, U.S, Jefferies, Comcast, CNBC, NBCUniversal, NBC Sports, NBC Olympics, NBC, Games Locations: Hong Kong, China, Beijing, Pop, Thailand, NBCUniversal, U.S

☆ Linde extends its streak of earnings beats, flexes ability to handle any economy
▼ + stars: | 2024-08-02 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +9 min

Linde Why we own it: The industrial gas supplier and engineering firm has a stellar track record of consistent earnings growth. We're not the only investors who have come to covet the company's ability to deliver steady earnings growth regardless of the economic conditions. But if there is a worsening of economic conditions, Lamba said Linde will take action quickly to protect profits. "That was just a very solid quarter," Jim Cramer said Friday. Guidance For the third quarter, Linde expects adjusted EPS in the range of $3.82 to $3.92, implying 5% to 8% growth compared with the year-ago period.

Persons: Linde, LSEG, . Linde, —, We're, South America —, Sanjiv Lamba, Lamba, Matthew White, White, Jim Cramer, Jim Cramer's, Lin, Jim, Rolf Schulten Organizations: Revenue, Products, Linde, LIN, Taiwan Semiconductor Manufacturing Company, Linde's, CNBC, Bloomberg, Getty Locations: North America, America, South America, U.S, It's, Arizona, Americas, Europe, Middle East, Africa, Linde's Asia, China, Leuna, Germany

☆ Mortgage rates plunge to the lowest level in over a year after weak employment report
▼ + stars: | 2024-08-02 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

The average rate on the popular 30-year fixed mortgage dropped 22 basis points to 6.4% Friday, according to Mortgage News Daily. The 15-year fixed rate fell to 5.89%, its lowest level since early May 2023. Mortgage rates loosely follow the yield on the 10-year U.S. Treasury. The 30-year fixed rate started the week at 6.81%, so the drop in just the past five days is dramatic. Buyers were battling not just high interest rates but high home prices and a lack of supply.

Persons: Jerome, Powell didn't, Matthew Graham, Graham, Mike Fratantoni Organizations: Mortgage News, Treasury, Federal, Buyers, Mortgage, Association, Mortgage Bankers Association

Now as a 30-year-old, he will compete in the 10,000-meter race, representing the International Olympic Committee’s refugee team for the second time in his career. It’s not for you.’ He couldn’t be here.”Abdelmaji left for a high-altitude training camp in Ethiopia for several weeks last fall before returning to Tel Aviv. "You represent the refugees around the world.”Jamal Abdelmaji, right, trains for Paris 2024 at a Tel Aviv running track. Stopped by Israeli soldiers, he spent the first days in a refugee camp before he was sent to Tel Aviv. Really, really looking forward to it.

Persons: Jamal Abdelmaji, Mohammed, Abdelmaji, “, ”, ” Abdelmaji, Hili Avinoam, It’s, it’s, ” Jamal Abdelmaji, Carlo Angerer, Rotem Genossar, ” Genossar, Avinoam, ” Avinoam, Asaf Roz, Roz, who's, “ We’ve, he’s Organizations: Olympic, IOC, Rio Games, NBC News, Paris, NBC, Alley, Olympic Games Locations: TEL AVIV, Israel, Darfur, Sudan, Israeli, Ethiopia, Tel Aviv, Gaza, Paris, Tokyo, Omdurman, Sudan’s, Khartoum, Canada, Cairo

CNN —Alleged Sinaloa cartel cofounder Ismael “El Mayo” Zambada appeared Thursday in federal court in Texas for his latest hearing since his arrest a week ago in an intrigue-packed case centered on one of the world’s most powerful and deadly drug trafficking organizations. He was arrested the prior day in El Paso alongside Joaquín Guzmán López, the 38-year-old son of infamous cartel boss and founder Joaquin “El Chapo” Guzman. The scene outside the courthouse in El Paso showed a heavy security presence, with federal agents and bomb-sniffing dogs patrolling the perimeter. Attorney Jeffrey Lichtman’s assertion raised new questions about why Guzmán López flew to Texas if he had no cooperation agreement with American authorities. “Joaquín Guzmán López forcibly kidnapped my client,” attorney Frank Pérez said in a statement.

Persons: Ismael “ El, Ismael “ El Mayo ” Zambada, Zambada, Joaquín Guzmán López, Joaquin “ El Chapo ” Guzman, –, Anne Milgram, Guzmán López, Jeffrey Lichtman’s, “, Frank Pérez, Christopher Wray, “ Zambada Garcia, Ismael, El, Jose Luis Gonzalez, he’s, El Chapo, boss’s, Oseguera, Zambada’s, that’s, Guzmán, El Chapo’s, CNN’s Eric Levenson, Emma Tucker, Polo Sandoval, Evan Perez, Nicole Chavez, Cheri Mossburg, Christina Zdanowicz Organizations: CNN, Ismael “ El Mayo, US, DC, US Justice Department, Justice Department, Drug, US State Department, ” Police, Reuters, of, Zambada, Jalisco New, –, Congressional Research Service Locations: Sinaloa, Texas, El Paso, New York , California , Texas , Illinois, Washington, United States, Mexico, Chicago, Joaquín, Illinois, El Mayo, Eastern, of New York, Jalisco, Zambada

☆ Ford reveals 2025 Maverick pickup with new technologies, hybrid options
▼ + stars: | 2024-07-31 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Ford Motor has redesigned its small Maverick pickup truck, adding more technology, new performance and hybrid options to the vehicle. Updates to the 2025 Ford Maverick include refreshed exterior and interior styling, including a 13.2-inch center touchscreen; an all-wheel-drive hybrid option; and connectivity features such as a 5G modem and wireless Apple CarPlay and Android Auto. The Ford entry-level pickup has been a surprise hit for the company since its introduction in 2021. The Maverick is drawing new customers to the Ford brand — many of whom are buying their first-ever new vehicle, the company said. Additionally, Ford said 80% of Maverick owners did not own a truck as their previous vehicle.

Persons: Ford, John Emmert Organizations: DETROIT, Ford, Apple, Android, CNBC Locations: North America

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