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☆ Dollar winds down after volatile week, China NPC in focus
▼ + stars: | 2024-11-08 | by ( ) www.cnbc.com time to read: +4 min

The dollar further unwound some of its sharp gains from earlier in the week as traders closed out profitable bets on a Trump presidency after his election victory. That helped lift sterling back toward the $1.30 mark, while the yen similarly got some respite and hovered closer to the 153 per dollar level. Sterling last traded $1.2983, recovering from its fall to a roughly three-month low earlier in the week. Against a basket of currencies, the dollar ticked up 0.03% to 104.44, on track to gain just above 0.1% for the week. "All eyes are on what may emerge from China's policy toolkit after the conclusion of the NPC standing committee meeting."

Persons: Donald Trump's, Chancellor Olaf Scholz, Kerry Craig, Trump, Wells, Jay Bryson, Sterling, David Chao Organizations: White, National People's Congress, Trump, Federal Reserve, Morgan Asset Management, Traders, Bank of England, NPC, New Zealand, Asia Pacific, European Union Locations: U.S, Beijing, Germany, Wells Fargo, Japan, Invesco

☆ What the Fed’s interest rate cuts mean for your money
▼ + stars: | 2024-11-08 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

But that doesn’t mean as a result interest rates are now low — or will soon be low. “‘Falling interest rates’ are not the same as ‘low interest rates.’ Interest rates are high and will only decline to ‘not as high’ as … we move into 2025,” said Greg McBride, chief financial analyst at Bankrate. Credit cards: Just before the Fed cut its key rate in September, the average credit card rate was 20.78%, according to Bankrate. Another option: Try transferring your balance to a credit card from a credit union or local bank. Before the Fed’s September rate cut many of those accounts were offering yields between 4.25% and 5.3%, according to those listed on Bankrate.com.

Persons: ”, Greg McBride, Matt Schulz, Chris Diodato, they’re, Freddie Mac, Sam Khater, Freddie Mac’s, ” McBride, Sinead Colton Grant, Colton Grant, “, Don’t, Diodato, you’re, BNY, they’ve Organizations: CNN, Reserve, Bankrate, Fed, LendingTree, Treasury, Savings Locations: Treasuries

Donald Trump’s return to the presidency has done something no political opponent could: put an end date on his time atop the Republican Party. Trump single-handedly remade the Republican Party in his own image, not only becoming its unquestioned leader but also rewiring what the Grand Old Party stands for. “We are getting four more years of Trump and then eight years of JD Vance!” Trump Jr. said last week as he campaigned for Ohio Senate candidate Bernie Moreno. He had a shaky start, but he has steadied himself,” a veteran Republican operative said. “A Trump win means [the 2028] field will be slower to develop,” a longtime Republican operative said.

Persons: Donald Trump’s, MAGA, Trump, ”, “ Trump, Reagan, JD Vance, Vance, Gene J, Donald Trump Jr, ” Trump, Bernie Moreno, “ JD, steadied, “, Ron DeSantis, Sarah Huckabee Sanders, Vivek Ramaswamy, Brian Kemp, Nikki Haley, Glenn Youngkin, Sen, Ted Cruz of, Tim Scott of, Ronald Reagan, ” DeSantis, I’m, “ Huckabee Sanders, —, Huckabee Sanders, Ramaswamy, Haley, ” Haley, Dave McCormick can’t, Donald Trump Organizations: Republican Party, Trump, Old Party, Republicans, Republican, Trump Republicans, Reagan Democrats, Ohio, White House, Florida Gov, Georgia Gov, South Carolina Gov, Virginia Gov, Trump Republican, Gov, GOP, Trump ” Republicans Locations: Trump, Butler , Pennsylvania, Bedford , Pa, Arkansas, Georgia, Virginia, Ted Cruz of Texas, Tim Scott of South Carolina, Florida, Iowa, Ohio, South Carolina, Pittsburgh, Pennsylvania

☆ Ukraine is forced to confront a brutal Trump reality that it hoped would never happen
▼ + stars: | 2024-11-07 | by ( Nick Paton Walsh | ) edition.cnn.com time to read: +8 min

There should be no enduring mystery about what a Trump presidency means for Ukraine. Trump may appoint a cabinet that mildly adjusts the pace or tone of his instincts, but in the end he wants out. Workers remove debris from an apartment building that was damaged during a Russian drone strike in Kyiv, Ukraine, on October 29, 2024. Furthermore, Trump enters the White House at perhaps the most perilous time for Kyiv since the start of the war. Those tired of the Ukraine war – be they Kyiv ally or frontline soldier – should still not embrace the idea of a Trump-backed deal.

Persons: upsides, Trump, Donald Trump, ”, Vladimir Putin, Joe Biden –, Chasiv Yar, Putin, Thomas Peter, Kim Jong, Qasem Soleimani, Biden, Zelensky, –, Kostiantyn Organizations: CNN, NATO, Trump, Pentagon, Iranian Revolutionary Guard, Congress, Kyiv, Russian, European Union, Kremlin Locations: Ukraine, United States, Europe, Russia, Moscow, Pokrovsk, Donetsk, Dnipro, Zaporizhzhia, Russian, Kyiv, Afghanistan, Singapore, Korean, Bankova, Syria, Ukrainian, Georgia, Moldova

☆ What Trump’s historic election victory means for the global economy
▼ + stars: | 2024-11-07 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Nurphoto | Nurphoto | Getty ImagesDonald Trump's election victory over Vice President Kamala Harris marks a historic return to the White House — an extraordinary political comeback that is likely to have seismic ramifications for the global economy. The former president's litany of campaign pledges include steep tariffs, tax cuts, deregulation and a push to withdraw from key global agreements. Trump's favorite wordTrump has previously described "tariff" as his favorite word, calling it "the most beautiful word in the dictionary." And we don't see Trump's secondary tariff pledge — that baseline tariff, which would hurt European companies — as being all that feasible," Galbraith said. Analysts have warned that Trump's plan to impose universal tariffs are highly likely to raise prices for consumers and slow spending.

Persons: Donald Trump's, Kamala Harris, Trump, Lizzy Galbraith, Abrdn, Galbraith, CNBC's, Donald Trump, Ben May, Mitchell Reiss Organizations: Nurphoto, Getty, European Union, Bloomberg, Trump, Oxford Economics, Signum Global Advisors, Macquarie Group, Royal United Services Institute Locations: Binzhou, China, Florida, U.S, Mexico, Greensboro , North Carolina, Ukraine, Europe, Asia, Qingdao Port, Shandong province, Qingdao, American

☆ Trump victory deals latest severe blow to a struggling Germany
▼ + stars: | 2024-11-07 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Krisztian Bocsi | Bloomberg | Getty ImagesDonald Trump's election as U.S. President could mark yet another major blow for the struggling German economy. The print came after the German economy ministry in October said it was now expecting the country's economy will contract, rather than grow this year. Trump's victory could make matters worse. Reliance on exportsThe German economy is heavily reliant on exports — and Trump is set to slap tariffs and other restrictions on imports. The German statistics office Destatis last month said that the U.S.' importance as a trading partner for Germany has been growing.

Persons: Olaf Scholz, Germany's, Krisztian Bocsi, Donald Trump's, Moritz Schularick, Trump, Schularick, ifo, Morningstar DBRS, Lisandra Flach Organizations: Bloomberg, Getty, PMI, P Global, Hamburg Commercial Bank, Kiel Institute, Trump, Reliance, China, Beijing, Destatis, ifo Center, International Economics, European Union, EU Locations: Berlin, Germany, Federal Republic of Germany, Europe, U.S

☆ Goldman Sachs slashes European growth forecasts on Trump win
▼ + stars: | 2024-11-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —President-elect Donald Trump’s proposed protectionist policies, including hefty tariffs, will hurt Europe’s economic standing — leaving crisis-hit Germany particularly vulnerable, Goldman Sachs predicts. Goldman Sachs expects gross domestic product across the 20 countries that use the euro to expand 0.8% next year, down from the 1.1% it forecast previously. Goldman Sachs’ central expectation is for “a more limited set of tariffs on European economies,” targeting primarily their auto exports. Goldman Sachs now expects the German economy to grow only 0.5% next year because of trade tensions, just over half the 0.9% growth it forecast previously. “For European businesses, Trump’s return to the White House implies considerable trade policy risks and geopolitical uncertainty,” Berenberg chief economist Holger Schmieding wrote in a note Thursday.

Persons: Donald Trump’s, Goldman Sachs, Trump’s, Trump, ”, Holger Schmieding, “ Organizations: London CNN —, NATO, Republican, European Union, Volkswagen, VW Locations: Germany, United States, Europe, Ukraine, China

☆ The odds of Russia's economy collapsing are 'extremely small' and the war can go on for the long term, economist says
▼ + stars: | 2024-11-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Russia's war economy ins't in imminent danger of collapse, economist Vladislav Inozemstev said. AdvertisementRussia may stand a better chance at sustaining its war economy than previously thought. "The people realize that the 'war economy' has substituted the anemic economic condition of the 2010s." Inozemstev said he expected Russia's economy to continue to grow in 2025 and beyond, forecasting 2%-2.5% GDP growth next year. The International Monetary Fund has said it is expecting Russia's economy to expand by 3.6% in 2024.

Persons: Vladislav Inozemstev, —, Inozemstev Organizations: Service, Middle East Media Research Institute, Kremlin, Monetary Fund Locations: Russia, Russian, Soviet Union

☆ Britain loves its 'special relationship' with the U.S. — but that doesn't mean Trump will love it back
▼ + stars: | 2024-11-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

London feels those long-standing bonds and geopolitical interests make its relationship with the U.S., well, special. Not so special anymoreDescribing the "special relationship" as one of convenience for the U.S., Pickering said the U.K. could still maneuver itself to be useful to an incoming Trump government. Whisper it, but the "special relationship" ceased to be special long ago, according to Holger Schmieding, chief economist at Berenberg. "That Trump and Starmer are apparently not fans of each other, to put it mildly, will not help in future U.S.-U.K. talks. Britain's Queen Elizabeth II greets U.S. President Donald Trump as he arrives for the Ceremonial Welcome at Buckingham Palace, in London, Britain June 3, 2019.

Persons: Donald Trump, Jeff J Mitchell, Keir Starmer, Trump, David Lammy, Starmer, Harris, Joe Biden, Kevin Lamarque, Badenoch, Lammy, Kallum Pickering, Peel Hunt, We're, we'll, Pickering, Holger Schmieding, Schmieding, Britain's Queen Elizabeth II, Victoria Jones Organizations: Getty, U.S, London, Britain's, Republican, Trump Tower, Trump, Atlantic, Labour Party, White, Reuters, Conservative Party, Republicans, Labour, European Union, China, Peel, CNBC, NATO Locations: London, New York, Washington, Europe, China, EU, U.S, America, Buckingham, Britain

☆ Grammy nominations preview: An album of the year race that’s impossible to predict and more
▼ + stars: | 2024-11-07 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +8 min

More women have been represented in the album of the year category since it was expanded in 2019, going from 5 nominees to 8 or more. Her husband Jay-Z, reminded Grammy voters of this perceived oversight during last year’s ceremony. But the race for album of the year is just one part of what may make the 2025 Grammy Awards special. 1 on the Billboard 200, he is on track to, at the very least, earn multiple nominations on Friday. The Grammy nominations will be announced live on Friday at 10:45 a.m. EDT/7:45 a.m. PDT on the Recording Academy’s YouTube page.

Persons: Taylor Swift, Beyoncé, Billie Eilish, Ariana Grande, Sabrina Carpenter, Charli XCX, Chappell Roan, Jon Batiste, Paul Grein, ”, Swift, “ Cowboy Carter, ” Grein, she’s, Jay, Grein, “, ” Swift, “ Midnights ”, Barbra Streisand, Kendrick, Lamar, Drake, XCX, Maria M . Silva, Roan, Carpenter, Charli, it’ll, Cowboy Carter, Beyonce, don’t, Megan Thee, Slim Pickens ”, Spiritbox, Kendrick Lamar, Timothy Norris, Drake’s, Celine Dion reenters, Celine Dion’s, Celine Dion, Jon Batiste’s, Willie Nelson’s, Willie Nelson, Taylor Swift’s, Michael Webb, Lady Gaga, Malone, Morgan Wallen, this’ll, Beyonce “ Levii’s Organizations: CNN, Recording Academy, “, Poet’s Department, Storm King, Albany Times Union, Hearst Newspapers, Kia Forum, Getty, Beatles, London Palladium, Hulton Locations: New Windsor , New York, Inglewood , California, Lamar

Trump's first 100 days are likely to be a rollercoaster, especially given his affinity for headline-grabbing moves. These structured channels helped ensure open dialogue on issues like tariffs, technology restrictions, and financial stability. A potential role for Elon Musk as a geopolitical go-between China might look to alternative channels to manage relations with Trump's administration. National security and AI, autonomous vehicles National security considerations will also be front and center in Trump's early China policy, especially regarding technology restrictions. Expect tariffs, technology restrictions, and Trump's unique brand of diplomacy to push the relationship to its limits.

Persons: Donald Trump, Xi Jinping, Kevin Lemarque, Donald Trump's, Trump, Mao Ning, Trump's, Biden, Elon Musk, Tesla, he's, Robin Ren, Ying Yong, Wu Qing, hasn't, Steve Wynn, Musk, — Organizations: Reuters, White, U.S ., Foreign, Treasury, Commerce, Tesla Inc, Bloomberg, Getty, European Union, Trump Locations: Osaka, Japan, U.S, China, Beijing, Shanghai, Washington, Taiwan, European, South Korea, Trump's

CNN —Germany’s governing coalition has collapsed after disagreements over the country’s weak economy led Chancellor Olaf Scholz to sack his finance minister. The coalition has been at loggerheads over how to revive Germany’s economy. What problems is Germany’s economy facing? Germany’s economy, Europe’s largest, shrank last year for the first time since the onset of the Covid-19 pandemic. Party leader Alice Weidel has already hailed the coalition’s collapse as a “liberation” for Germany.

Persons: Chancellor Olaf Scholz, Christian Lindner’s, Scholz, Donald Trump, Europe’s, Angela Merkel, Gerhard Schröder, Merkel, Christian Lindner, Christoph Soeder, Friedrich Merz, Lindner, Liesa Johannssen, “ Lindner, ” Lindner, ”, Carsten Brzeski, “, Robert Habeck, Annegret Hilse, Merz, Alice Weidel, ” Weidel Organizations: CNN, Free Democrats Party, Scholz’s Social Democratic Party, SPD, Green Party, CDU, Trump, Social Democratic Party, Greens, ING, Volkswagen, CDU –, Christian Democratic Union, Party Locations: Germany, Germany’s, Nazi, Thuringia, France, Italy, Ukraine, China, ”

☆ Moderna posts surprise profit as Covid vaccine sales impress, cost cuts take hold
▼ + stars: | 2024-11-07 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

Moderna on Thursday posted a surprise profit for the third quarter, smashing Wall Street estimates, as its cost-cutting efforts took hold and sales of its Covid vaccine came in higher than expected. Before year end, the company plans to file for approval of its experimental "next-generation" Covid vaccine and combination shot targeting Covid and the flu. Moderna this year also expects to apply for expanded approval of its RSV vaccine, targeting high-risk adults ages 18 to 59. "I think the earlier launch and a steeper ramp drove a much higher sales number" for the Covid vaccine, Moderna CEO Stéphane Bancel said in an interview. Analysts had expected sales of $132 million for the RSV vaccine, according to estimates compiled by StreetAccount.

Persons: Moderna, Stéphane Bancel, Bancel, StreetAccount, mull Organizations: Moderna, LSEG, Merck, Research Locations: U.S, Union, Norway, Iceland, Qatar, Europe

☆ Iran's big gamble on ballistic missiles is being tested like never before
▼ + stars: | 2024-11-07 | by ( ) www.businessinsider.com time to read: +6 min

At the same time, it has still prioritized building offensive ballistic missiles to deter and strike its adversaries. Several reports go so far as to report that Iran's entire arsenal of Russian-built S-300 air defense systems was hit. Related storiesThere are reasons to be skeptical about the extent of damage to Iran's air defenses. Israel's attack was retaliation for Iran's enormous October 1 ballistic missile strike. Unlike its foe Israel, which has built one of the world's most advanced air defense systems, Iran has focused on developing strike missiles.

Persons: —, Tehran's, Joe Biden's, Amos Hochstein, hasn't, Arash Azizi, Boston University's Frederick S, James Devine, Israel, Farzin, Nadimi, Azizi, Devine Organizations: Service, Boston University's, Pardee Center, Iran's, Department of Politics, Relations, Mount Allison University, Washington Institute for Near East, AIM, Phoenix, Soviet Union, American Hawk Locations: Iran, Russia, Ukraine, Israel, Tehran, Moscow, Iraq, Soviet, American, China, North Korea

Republicans have averted a potential disaster in Nebraska, with NBC News projecting that Sen. Deb Fischer has won re-election to a third term. Fischer faced a surprisingly competitive challenge from independent Dan Osborn, a mechanic and union leader who cast her as a creature of Washington. Fischer's win gives the Republicans 51 Senate seats, putting them over the threshold needed for control of the chamber, NBC News projects. But it has been nearly 20 years since the state elected a Democrat to the Senate, and Republicans typically carry statewide races with ease. Fischer was elected to the Senate in 2012 in a resounding victory over Democratic former Sen. Bob Kerrey, who had also been governor.

Persons: Sen, Deb Fischer, Fischer, Dan Osborn, Donald Trump, Fischer's, Osborn, “ Deb Fischer, she’s, ” Trump, AdImpact, Bernie Sanders, Bob Kerrey Organizations: NBC News, Republican, GOP, NBC, Democrat, Senate, Labor, Washington Examiner, MSNBC, Democratic Locations: Nebraska, Washington

Hoax bomb threats targeting polling places and election offices briefly disrupted voting in five battleground states, with the FBI saying the threats in four of those states came from Russian email domains. “The FBI is aware of bomb threats to polling locations in several states, many of which appear to originate from Russian email domains,” the FBI said in a statement Tuesday night. German officials accused Russia of orchestrating bomb threats against several polling places in Moldova’s presidential elections last week. Threats to polling sites and election offices were reported across about a dozen Pennsylvania counties, where targeted polling sites were ordered to stay open late, officials said. “But I think the number of these bomb threats is, if not surprising, very concerning,” he added.

Persons: ”, Bret Schafer, “ It’s, Schafer, Wade Yates, Brad Raffensperger, “, Adrian Fontes, Fontes, Lawrence Norden Organizations: FBI, Russian Embassy, Novosti, Alliance, Democracy, German Marshall Fund, Fulton County, Fulton County Police, Court, Etris, Center, Union City, NBC News, Arizona, ” Police, Philadelphia, Brennan Center for Justice, New York University Law School Locations: Russian, Georgia , Pennsylvania, Arizona , Wisconsin, Michigan, U.S, Russia, Moldova’s, Moscow, Moldova, Georgia, Fulton, DeKalb, Gwinnett, Union, Country, Madison , Wisconsin

A ballot measure that would have enshrined abortion rights in Florida's constitution failed on Tuesday, NBC News projects, after a political fight that was among the most hotly contested in the state this election cycle. The amendment won majority support from Florida voters, but it needed to cross the 60% threshold to pass under state law. Its defeat is a setback for reproductive rights groups in the red-leaning state and a victory for Republican Gov. Even though the ballot measure failed, the NBC News Exit poll found that 65% of Florida voters said abortion should be legal in all or most cases. Another ballot measure DeSantis opposed, the effort to legalize the use of recreational marijuana in Florida, also failed on Tuesday, NBC News projected.

Persons: Ron DeSantis, Roe, Wade, DeSantis, ”, Jessica Rosenworcel Organizations: NBC News, Republican Gov, DeSantis, U.S, Supreme, American Civil Liberties Union, “, Federal Communications, NBC Locations: Florida, Iowa

☆ Jim Cramer's top 10 things to watch in the stock market Wednesday: Trump victory edition
▼ + stars: | 2024-11-06 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Donald Trump, Tesla, Elon Musk, Trump, Gary Gensler, Jim Cramer's, Jim Cramer, Jim Organizations: NBC, Senate, Treasury, Federal Reserve, Trump, Tesla, Club, Justice Department, Apple, DOJ, FTC, Microsoft, Taiwan Semiconductor Manufacturing Company, SEC, Jim Cramer's Charitable, CNBC Locations: China, Taiwan, Mexico

☆ The NLRB filed a complaint against Apple. The former engineer who cofounded #AppleToo explains why it's important.
▼ + stars: | 2024-11-06 | by ( Helen Li | ) www.businessinsider.com time to read: +9 min

The NLRB filed a complaint against Apple, alleging labor law violations and retaliation. AdvertisementA culture of silenceScarlett's case is among other ongoing unfair labor practice complaints by former Apple employees. The future of labor organizing in Silicon ValleyThe NLRB has received an uptick in unfair labor practice filings from tech workers. "When we talk about labor law, we're really talking about unions and hourly labor, like retail, front line, and service workers," Scarlett said. Movements like #AppleToo reflect a greater push from tech workers, who expect more employer transparency.

Persons: Cher Scarlett, Scarlett, —, I'm, Bernie Sanders, Howard Schultz, Apple, Slack, – they're, Evan Starr, we're, Matthew Bodie, They're Organizations: NLRB, Apple, Service, Labor Relations, National Labor Relations, SEC, University of Maryland, Employees, Microsoft, Google, The New York Times, University of Minnesota Law School, Activision Blizzard, Mozilla Locations: Oakland, California, Silicon Valley, USA

☆ German Chancellor Olaf Scholz fires Finance Minister Christian Lindner, leaving ruling coalition in disarray
▼ + stars: | 2024-11-06 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Chancellor Olaf Scholz announced Wednesday he had dismissed Finance Minister Christian Lindner, possibly bringing an end to Germany's ruling coalition after months of political wrangling. The three-year-old union between Scholz's Social Democratic Party (SPD), the Greens and Lindner's Free Democratic Party (FDP) has been on shaky ground for some time, with differing budget and economic policy positions causing tensions and clashes. It wasn't immediately clear if Lindner's departure would lead to the FDP exiting the coalition. Scholz said he would call for a vote of no confidence on Jan. 15 in parliament, raising the possibility of elections earlier than scheduled in March. But that is precisely not Christian Lindner's focus right now, he is focused on his own clientele."

Persons: Olaf Scholz, Christian Lindner, Scholz, Lindner Organizations: Scholz's Social Democratic Party, SPD, Greens, Lindner's Free Democratic Party, Green

CNN —German Chancellor Olaf Scholz fired his finance minister on Wednesday, leaving the government teetering on the brink of collapse. “The economy cannot wait until after the elections,” Scholz said. Trading barbsThe German chancellor and Lindner criticized each other in separate press conferences on Wednesday. Scholz told reporters “Lindner showed no willingness to implement any of our proposals” and, therefore, “there is no trust basis for any future cooperation” with the outgoing finance minister. The Chancellor also accused the finance minister of being “not about serving the common good but about serving his own clientele and party.” According to Scholz, Lindner will also be dismissed by the country’s President Frank-Walter Steinmeier.

Persons: Olaf Scholz, Scholz, Christian Lindner, “, – Scholz, Lindner, Robert Habeck, Trump, Habeck, Friedrich Merz ’, ” Scholz, Germany’s, Chancellor Gerhard Schroder, Angela Merkel, “ Lindner, Frank, Walter Steinmeier, Alice Weidel Organizations: CNN, Social Democratic Party, Free Democratic Party, Green Party, Lindner’s Free Democratic Party, Greens, Christian Democratic Union, CDU Locations: Germany, Nazi

☆ Dozens of New York Times tech workers cross the picket line on Election Day
▼ + stars: | 2024-11-06 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Dozens of New York Times tech workers crossed the picket line amid a tech strike. The Tech Guild is striking over remote work, pay equity, and subcontracting limits. AdvertisementDozens of New York Times tech workers have crossed the picket line since the Tech Guild went on strike Monday, sources said. AdvertisementThe Tech Guild, formed in 2021, represents Times workers like software developers and data analysts. AdvertisementThe strike has exposed some divisions among Tech Guild members — and between the guild and some Times journalists who have expressed a lack of sympathy for the tech workers.

Persons: —, Benjamin Harnett, Harnett, There's, Nate Cohn Organizations: New York Times, Tech, Service, Times, Times Guild, Tech Guild

☆ A Trump win could have a 'negative impact' on these 3 stocks due to tariff risks, says TD Cowen analysts
▼ + stars: | 2024-11-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Three global alcoholic beverage makers are likely to see a "negative impact" from a Republican victory in the U.S. election due to the potential for trade tariffs, according to TD Cowen analysts. Guinness maker Diageo would be one of the companies to be impacted by a "smaller degree," according to the bank's analysts. These tariff measures were relaxed by the EU in early 2022, but are expected to be reinstated and doubled to 50% in 2025. STZ 5Y line Diageo Tariffs could "hit multiple areas of the business" at Diageo, TD Cowen analysts said. The company, which makes the Don Julio tequilas in Mexico, has nearly a quarter of its total sales in the U.S. reliant on tariff free trade at the southern border.

Persons: Cowen, Jack Daniel's, Brown, Forman, Donald Trump, Cowen's Robert Moskow, BF.B, Don Julio tequilas, DEO Organizations: Republican, Canada's, Dominion Bank, Constellation Brands, Guinness, Diageo, European Union, EU, Constellation, Corona, Trump Locations: U.S, Canada's Toronto, Corona, Mexico

☆ Europe praises Trump's victory amid wider fears of an impending economic nightmare
▼ + stars: | 2024-11-06 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

Some European officials woke up to election results on Wednesday "not wanting to believe" them, several sources told CNBC. Many European leaders did not enjoy Trump's style of confrontational leadership during his first presidency, and there were several moments of tension with the former White House leader. As a result, many in Brussels celebrated the victory of Joe Biden in 2020, hoping for a better engagement. watch nowA second EU source, who also did not want to be named because of the sensitivity of the relationship, said: "It is not great, again." Any additional tariffs could further pressure the already moribund economic growth levels across the EU.

Persons: Donald Trump, Emmanuel Macron, Kamala Harris, Joe Biden, Ursula von der Leyen, Pedro Sanchez, Giorgia Meloni, Viktor Orban, Trump Organizations: USA, NurPhoto, Getty, Democratic, White, Trump, CNBC, EU, Thursday, Spanish, Hungary's, European Union, U.S, European Commission, Political Locations: France, Biarritz, Brussels, EU, Italian, Hungarian, Budapest, United States, Ukraine

☆ Stellantis to indefinitely lay off 1,100 workers at Jeep plant in Ohio
▼ + stars: | 2024-11-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

A view of the Jeep Plant where United Auto Workers members are picketing on September 18, 2023 in Toledo, Ohio. DETROIT — Automaker Stellantis announced plans Wednesday to cut a manufacturing shift and indefinitely lay off roughly 1,100 workers at a Jeep plant in Ohio. The layoffs will be effective as early as Jan. 5, according to Stellantis. The automaker announced the layoffs in conjunction with required notices to government agencies under the Worker Adjustment and Retraining Notification Act. The United Auto Workers union, which represents Stellantis employees at the plant, did not immediately respond for comment.

Persons: Stellantis Organizations: Jeep, United Auto Workers, DETROIT —, Toledo South Assembly, Worker, United Auto Workers union Locations: Toledo , Ohio, DETROIT, Ohio, Toledo

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