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☆ The job market looks rock-solid, but there are 4 signs it's weakening as labor trends mirror past recessions
▼ + stars: | 2024-04-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Read previewToday's job market looks to be on solid footing, but there are subtle signs that hiring is starting to weaken, upping the odds that a recession strikes. The job market is already flashing key signs of weakness, and a hiring slowdown could be around the corner, Wall Street strategists have warned. Here are four signs the stellar US job market may be about to stumble:Advertisement1. But job-cut announcements rose to 257,254 over the first quarter, according to the career transitioning firm Challenger, Gray & Christmas. The risk of a coming recession could rise if the job market continues to slow, some forecasters have warned.

Persons: —, David Rosenberg, Rosenberg, Gary Shilling, it's Organizations: Service, Street, Business, Bureau of Labor Statistics, Challenger, National Federation of Independent Business, CNBC

☆ Opinion: Why the hush money trial judge was right
▼ + stars: | 2024-04-05 | by ( Opinion David Orentlicher | ) edition.cnn.com time to read: +8 min

David Orentlicher R. Marsh Starks/UNLV Creative ServicesAccording to the judge, Trump waited too long to raise his claim of immunity. Trump filed his claim for immunity on March 7, less than three weeks before the scheduled trial date at the time. When he tried last May to move his trial to federal court, his legal filings referred to his belief that he was entitled to immunity from prosecution. Even if Trump had filed his motion in September, his immunity claim faced other serious hurdles. The Framers were not restricting criminal prosecution of former presidents to those who had been impeached and convicted.

Persons: David Orentlicher, Jack, Lulu Lehman, William S, Juan Merchan, Donald Trump’s, David Orentlicher R, Marsh Starks, Trump, Merchan, ” Trump, can’t, Rather, —, Stormy Daniels, Nixon, Richard Nixon’s audiotapes, Jones, Bill Clinton, Vance, Cyrus Vance Jr, ”, “, Department of Justice —, disqualifying, Anderson, I’ve, Trump’s Organizations: Boyd School of Law, University of Nevada, Democrat, Nevada Assembly, CNN, UNLV, Appeals, DC Circuit, Senate, Trump, Trump ., New York District, Department of Justice, president’s Department, Justice Locations: Las Vegas, Nevada, New York, States, Clinton, Trump

☆ CNBC Daily Open: A projection is not a promise
▼ + stars: | 2024-04-03 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

Spencer Platt | Getty Images News | Getty ImagesThis 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. What you need to know todayThe bottom lineU.S. Federal Reserve officials are dampening rate cut expectations again, and again. In comments echoing those of the Federal Open Market Committee's two weeks ago, San Francisco Fed President Mary Daly said Tuesday she expects cuts this year — but wants to see more convincing evidence that inflation has been subdued. "Three rate cuts is a projection, and a projection is not a promise," Daly said.

Persons: Spencer Platt, Mary Daly, Daly, Loretta Mester, Vishnu Varathan, —, Jeff Cox Organizations: New York Stock Exchange, Getty, CNBC, Federal Reserve, Federal, San Francisco Fed, Cleveland Federal, Malaysian, U.S Locations: New York City, U.S, Asia, Japan

☆ Trump and Biden Win Primaries, but Voters Express Their Discontent
▼ + stars: | 2024-04-02 | by ( Chris Cameron | More About Chris Cameron | ) www.nytimes.com time to read: +1 min

President Biden and former President Donald J. Trump won overwhelming victories in state primaries on Tuesday, while a small but significant protest vote in both parties continued to assert itself against each candidate. Mr. Biden and Mr. Trump, who have already clinched their nominations, scored yawning leads in primaries in Connecticut, New York, Rhode Island and Wisconsin, with the races called shortly after polls closed in each state. Mr. Trump held at least 75 percent of the vote in every state as of 11 p.m. Mr. Trump was weakest in Connecticut, where he notched under 78 percent of the vote, while Ms. Haley took about 14 percent. Mr. Biden held at least 80 percent of the vote in every primary as of 11 p.m.

Persons: Biden, Donald J, Trump, Mr, yawning, Nikki Haley, Trump’s, Haley Organizations: Republican Party, Democratic Locations: Connecticut , New York, Rhode Island and Wisconsin, Connecticut, Gaza, Rhode Island

☆ Turkey's local elections — and whoever wins Istanbul — could dictate the future of the country
▼ + stars: | 2024-03-29 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

As the sunsets, a ferry boat glides across the waters of the Golden Horn with the Suleymaniye Mosque and the city of Istanbul, Turkey in the background. Vw Pics | Universal Images Group | Getty ImagesTurkish President Recep Tayyip Erdogan once said that whoever wins Istanbul wins Turkey. This is odd but also shows how important it is to win Istanbul," Tunca said. Major Turkish cities like Istanbul and the capital Ankara will be key races to watch. Istanbul Municipality Mayor Ekrem İmamoğlu speaks at the 19 May Commemoration of Atatürk, Youth and Sports Day celebrations held at the Maltepe Event Area on May 19, 2023 on Istanbul, Turkey.

Persons: Recep Tayyip Erdogan, Imamoglu, Erdogan, People's Party's, Murat Kurum, Arda Tunca, Volodymyr Zelenskiy, Tayyip Erdogan, Umit Bektas, Tunca, Kristin Ronzi, RANE, Erdogan's, Ekrem İmamoğlu, Hakan Akgun, Turkey's, Ronzi Organizations: Getty, Istanbul, sympathizing, Development Party, AK Party, Imamoglu, AK, CNBC, European Union, NATO, Reuters, Party, Imamoglu's CHP, Turkey's, CHP Locations: Istanbul, Turkey, Ukraine, Russia, Arab, Turkish, Ankara, East, North Africa

☆ RBC raises S&P 500 forecast to 5,300, sees even more upside possible
▼ + stars: | 2024-03-28 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

The S & P 500 has more room for upside in 2024, according to RBC Capital Markets head of U.S. equity strategy Lori Calvasina. The upgrade comes as the S & P 500 wraps up a monster start to the year. The strategist also expanded her 2024 earnings forecast to $237 from $234, which underpins her overall higher outlook for the S & P 500. Calvasina also laid out her bull case, which has the S & P 500 soaring to 5,400, nearly 3% above Wednesday's close. The current signal is little changed from her January S & P 500 forecast, where she also said U.S. equities appeared to be overbought.

Persons: Lori Calvasina, Calvasina Organizations: RBC Capital Markets, CNBC's Market, Survey

☆ Australia stocks hit record high, most other Asia-Pacific markets set to decline
▼ + stars: | 2024-03-28 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

CNBC asked Intrepid Travel and ChatGPT to put together a two-day itinerary to Melbourne City, AustraliaAustralia stocks hit a record high Thursday, while most other Asia-Pacific markets looked set to fall even though Wall Street rallied and the S&P 500 closed at another record high. In Australia, the S&P/ASX 200 rose 0.77% to hit an intraday record high of 7,883.90 just moments after opening. The index was higher for a second straight day. All eyes are now on Australia's retail sales data for the month of February, which a Reuters poll expects will rise 0.4%. Investors will also be watching for moves in the Japanese yen after it fell to 151.97 — its weakest level in 34 years against the U.S. dollar on Wednesday.

Organizations: CNBC, Intrepid Travel, U.S Locations: Melbourne City, Australia Australia, Asia, Pacific, Australia

☆ Standard Chartered says Japan 'very, very close' to yen intervention
▼ + stars: | 2024-03-28 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

Japan is "very, very close" to intervening in the yen, Steven Englander, head of Global G10 FX research and North America macro strategy at Standard Chartered Bank, told CNBC as the currency languishes at multi-decade lows. "I think we're actually very, very close to them [Japanese authorities] jumping in ... they've already discussed the political consequences and nobody's sitting there asking for a weaker yen," Englander told CNBC's "Squawk Box Asia" on Thursday. The Japanese yen traded around 151.47 against the U.S. dollar on Thursday after falling to its weakest level in 34 years at 151.97 in the previous session. Standard Chartered's Englander said potential intervention in the yen would be aimed at buying time for Japanese authorities until the U.S. Federal Reserve starts cutting interest rates or until the Bank of Japan hikes its rates a little more. He further noted that when Japanese authorities last intervened in the yen in 2022, it "worked out pretty well," even though investors were initially skeptical of the effectiveness of such currency intervention.

Persons: Steven Englander, they've, nobody's, Englander, CNBC's, Shunichi Suzuki, Masato Kanda, Yoshimasa Hayashi Organizations: Global, Standard Chartered Bank, CNBC, U.S, Reuters, U.S . Federal Reserve, Bank of Japan Locations: Japan, North America, .

“There’s no strong infrastructure for safety in maritime," said Jim Hall, who led the National Transportation Safety Board from 1994 to 2001. The Dali was flagged in Singapore, which has one of the best safety records of any country where ships are based. It's not listed as one of the 42 countries identified as “flags of convenience” by the International Transport Workers Federation. He said that with maritime shipping being the oldest transportation industry, with its international regulations that rely on many different countries for enforcement, it may have the most problems. “When I talk about those other transportation industries, the maritime industry is the worst offender of safety violations, of labor violations than any other industry,” Rexha said.

Persons: “, Jim Hall, Peter DeFazio of, ”, ” DeFazio, it's, Dali —, Peter Gautier, Dali, It's, Grace Ocean, Douglas Hales, ” Hales, Roland Rexha, midflight, ” Rexha, Michael Kunzelman, Seung Min Kim Organizations: International Maritime Organization, National Transportation, Guard, Former U.S . Rep, Transportation, U.S . Coast Guard, International Chamber of Shipping coalition, Allianz Global, International Transport Workers Federation . Authorities, Synergy Marine, University of Rhode, Port, Marine Engineers, Boeing, Max, Associated Press Locations: Baltimore, London, Former, Peter DeFazio of Oregon, West, New York, United States, U.S, Singapore, Chile, Belgium, Antwerp, Callao, Western Callao, Port of Baltimore, Ohio

☆ Yen hits 34-yr low ahead of key U.S. inflation data
▼ + stars: | 2024-03-27 | by ( ) www.cnbc.com time to read: +2 min

Japanese yen banknotes of various denominations are arranged in Kawasaki, Japan, on Friday, June 23, 2023. The yen briefly traded at 151.97 per dollar in the Asia session, down about 0.2% and its weakest since mid-1990. China's yuan and the New Zealand dollar traded near four-month lows. The yuan weakened to 7.2285 per dollar despite a strong fix of its trading band. The New Zealand dollar fell 0.2% to $0.5988, not helped by a downward revision to the government's economic growth forecasts.

Persons: Rodrigo Catril, Naoki Tamura Organizations: National Australia Bank, Bank of Japan, New Zealand Locations: Kawasaki, Japan, Asia

☆ Bridge accidents: Three ships have hit bridges in Argentina, China and Baltimore in just three months
▼ + stars: | 2024-03-27 | by ( Jessie Yeung | ) edition.cnn.com time to read: +7 min

These events all happened within the first three months of this year – and all after collisions with large commercial ships. And a month earlier, a large cargo ship collided with the Zárate–Brazo Largo Bridges crossing the Prana River in Argentina, according to now-shuttered government-run news agency Télam – severely damaging the ship, though the bridge remained intact. By contrast, in the Baltimore example, the water channel and bridge are wide and tall enough to accommodate large vessels – and the cargo ship hit the bridge pier, not the bridge itself, Andrawes said. But even these measures can only do so much in the event of a large cargo ship collision, Mercogliano said, pointing to the Baltimore collapse. “And even when the ship hit those dolphins, the ship was so large it towered over them and actually struck the bridge itself.

Persons: Francis Scott Key, DALI, ”, Sal Mercogliano, Télam, Bassem, Andrawes, it’s, Mercogliano, Baltimore Steve Helber, there’s, Jerome Hajjar Organizations: Hong Kong CNN, University of Illinois, Sunshine Skyway, Coast Guard, Structural Engineering, American Society of Civil Engineers Locations: Hong Kong, Baltimore, China, Argentina, Patapsco, Guangzhou, –, Largo Bridges, Urbana, Champaign, Florida

☆ Intervention threat curbs dollar's ascent towards new high on the yen
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: +3 min

The dollar was on the front foot on Monday and kept the yen pinned near a multi-decade low, though the threat of currency intervention from Japanese authorities prevented the greenback from heading further north. "Japanese officials' verbal intervention is making 152 a very strong near-term resistance for dollar/yen," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. "Markets are fully aware of a potential actual FX intervention from authorities, so I think that's keeping dollar/yen from moving substantially higher. "I think there is still a high risk that they will come in to prop up the yen if dollar/yen were to surge materially perhaps to 155. The yuan has been pressured by growing market expectations of further monetary easing to prop up the world's second-largest economy.

Persons: Carol Kong, That's, BoE, Andrew Bailey, Chris Weston Organizations: Bank of Japan's, Commonwealth Bank of Australia, Federal Reserve, European Central Bank, Bank of England, Swiss National Bank, Sterling, Financial Times, ECB, New Zealand Locations: Japan, United States

☆ Starbucks stock is cheap. Here's why we're not planning to buy more of it yet
▼ + stars: | 2024-03-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

Investors have lost their taste for Starbucks stock as the company faces headwinds in key markets across the globe. SBUX .SPX YTD mountain Starbucks' year-to-date stock performance compared with the S & P 500. At this point, the question is whether the possibility of a weak quarter and lowered guidance are already priced into Starbucks' stock. In light of the report, we lowered our price target on Starbucks stock to $115 per share from $125, but maintained our 1 rating. A Starbucks logo is seen as members and supporters of Starbucks Workers United protest outside of a Starbucks store in Dupont Circle, Washington, D.C., on Nov. 16, 2023.

Persons: Jeff Marks, Michael Conway, Brady Brewer, Laxman Narasimhan, it's, Rachel Ruggeri, Morgan Stanley, reshuffling, Wells, Jim Cramer's, Jim Cramer, Jim, Kevin Dietsch Organizations: Down, North, Starbucks International, Starbucks, Deutsche Bank, CNBC, Starbucks Workers, D.C, Getty Locations: U.S, China, Israel, North America, America, Europe, Starbucks China, Wells, Starbucks, Dupont Circle, Washington

☆ 'Mr Yen' says Japan could intervene if yen falls to 155
▼ + stars: | 2024-03-20 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: 1 min

Japanese authorities may intervene if the yen sinks to 155 to 160 against the dollar, according to a former top foreign exchange official Eisuke Sakakibara. The Bank of Japan's decision on Tuesday to exit the world's last remaining negative rates regime sparked a sell-off in the Japanese currency as Governor Kazuo Ueda reiterated monetary conditions will stay loose for the time being — given the fragile recovery in the Japanese economy. He also didn't commit to a terminal rate level. On Wednesday, ahead of the U.S. Federal Reserve's interest rate decision later in the day, the yen touched its weakest in four months against the dollar, falling to around 151 and tumbling against the euro to its lowest since 2008.

Persons: Kazuo Ueda Organizations: U.S Locations: U.S . Federal

☆ Investing in sports teams is trendy now — but is it headed toward bubble territory? New research provides a playbook.
▼ + stars: | 2024-03-19 | by ( Tiara White | ) www.businessinsider.com time to read: +6 min

The simmering topic has been up for debate, in part because prices for NFL teams have risen so high that they threaten to restrict who can be a lead owner. This raises the question: Are investments in sports teams actually a good investment, especially for risk-averse investors like pensions and endowments? According to new research published in Investments & Wealth Publications in November, the answer is a resounding yes. For the article, he teamed up with his father, Arun Muralidhar, the chairman and founder of Mcube Investment Technologies, which develops decision-support products for institutional investment managers. "They themselves are investing globally to make sure that their brand is increasing, and they found great success with that."

Persons: —, Sid Muralidhar, Muralidhar, Risktyle, Arun Muralidhar, Sachin Muralidhar, Sachin, Arun, Sid Muralidhar Sid Muralidhar, homed, it's Organizations: Service, NFL, Dallas Cowboys, Forbes, Business, Investments, Wealth, NHL, Citigroup, Mcube Investment Technologies, The University of Virginia, National Hockey League, NBA, MLB, BI

☆ Trump could face a rare defeat in the chaotic Ohio GOP Senate primary by someone he calls the 'next Mitt Romney'
▼ + stars: | 2024-03-17 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +8 min

There's a contentious Senate primary in Ohio between a traditional Republican and a Trump loyalist. AdvertisementIn recent days, former President Donald Trump has found himself locked in a proxy showdown with establishment GOP figures in Ohio. Ohio State Sen. Matt Dolan at an event in Salem, Ohio on March 15, 2024. "President Trump wants Bernie," said Noem, adding that "should be enough reason" for rally attendees to convince their friends to vote for Moreno. "You're gonna want President Trump in Ohio a lot," Noem later said.

Persons: Trump's, — Bernie Moreno —, Moreno, —, Donald Trump, Bernie Moreno, who's, Sen, Matt Dolan, Mike DeWine, Rob Portman, Dolan —, That's, Dolan, Mitt Romney, Trump, DeWine, Democratic Sen, Sherrod Brown, Frank LaRose, Kristi Noem, Bernie …, Bill Clark, he's, Steve Daines, Kari Lake, Brown, MAGA, Moreno —, JD Vance —, Vance, Scott Olson, Bernie, Noem, that's, Kimberly Curtis Organizations: Republican, Trump, Service, US Senate, Gov, Ukraine —, Democratic, PAC, GOP, Associated Press, Business, Ohio, Getty, Republicans, National Republican Senatorial, Republican Party, Cleveland Guardians, Cleveland Indians, Senate Locations: Ohio, Dayton, Ukraine, Utah, South Dakota, Salem , Ohio, Montana, Montana and Michigan, Arizona, Dayton , OH, Troy , Ohio

That same day, Mr. Trump’s campaign announced that the former president would appear alongside Mr. Moreno on Saturday in Dayton, widely interpreted as a sign that Mr. Moreno could benefit from an 11th-hour boost. Simultaneously, Mr. Moreno and his backers have portrayed Mr. Dolan as not sufficiently supportive of Mr. Trump. After Mr. Trump overwhelmingly won the former battleground state in 2016 and 2020, Ohioans sent J.D. Image Mr. Moreno has been endorsed by, and campaigned with, several Republicans with ties to Mr. Trump, including Gov. Mr. LaRose and Mr. Moreno have banded together to attack Mr. Dolan as disloyal to Mr. Trump, while both Mr. Dolan and Mr. LaRose have accused Mr. Moreno of shifting his views on everything from gun control to Mr. Trump himself.

Persons: Donald J, Trump’s, Bernie Moreno, Sherrod Brown, Moreno, Matt Dolan, Frank LaRose, Dolan, Mike DeWine, Rob Portman, LaRose, Mr, Trump, Donald Trump, ”, Ryan Stubenrauch, DeWine, Portman, Brown, Ohioans, J.D, Vance, Biden, Moreno’s, “, Mitch McConnell, McConnell, Donald Trump Jr, ” Mr, ” Reagan McCarthy, won’t, Jim Renacci, “ Trump, Katie Smith, they’ll, Kristi Noem, Vivek Ramaswamy, Vance of Ohio, —, Noem, Donald Trump isn’t, Mitzi Baird, ” Ms, Baird, Michael C, Bender Organizations: Republican, Republicans, Democrat, Senate, Mr, Democratic, Cleveland Guardians, Trump, Republican Party —, National Republican Senatorial Committee, Ohio Democratic Party, U.S . Army, Washington , D.C, ”, Lincoln Locations: Ohio, Dayton, Arizona, Cleveland, Washington, G.O.P, battlegrounds, Pennsylvania, Georgia, South Dakota, Cincinnati, Washington ,, Columbus, Elyria, Vermilion

But McAfee’s 23-page opinion was a scathing rebuke of the district attorney’s actions, and it remains unclear if Trump will face trial before November on his actions after the 2020 presidential election. McAfee ruled that either Wade or Willis would have to leave the case, as an “odor of mendacity remains” over the circumstances of their relationship. “A perceived conflict in the reasonable eyes of the public threatens confidence in the legal system itself,” McAfee wrote Friday. “An outsider could reasonably think that the District Attorney is not exercising her independent professional judgment totally free of any compromising influences. As long as Wade remains on the case, this unnecessary perception will persist,” McAfee wrote.

Persons: Scott McAfee, Fani Willis, Donald Trump –, Nathan Wade, Willis, Wade, It’s, Trump, McAfee, ”, Mike Roman, Willis ’, ” McAfee, Willis wasn’t, Willis –, SADA, untruthfully, Wade “, “, Will Wade, there’s, –, ” CNN’s Devan Cole Organizations: CNN, White House, Trump, Manhattan District, US, Attorney, District, District Attorney, ” Locations: Fulton County, Georgia, Washington, New York, –, reimbursements, Atlanta

☆ Nikki Haley received roughly 20,000 Election Day votes over Trump in the Georgia GOP primary after dropping her White House bid. Why it matters.
▼ + stars: | 2024-03-14 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

With no major GOP opponents, ex-President Donald Trump easily won the Georgia primary on Tuesday. But Nikki Haley still won roughly 20,000 Election Day votes despite her exit from the WH race. Statewide, Haley won about 78,000 votes in the GOP primary. And roughly 20,000 of those votes were cast on Election day, according to The Atlanta Journal-Constitution. AdvertisementThe ghost of the 2020 election still lingersIn the 2020 election, Biden won Georgia by a 0.23% margin, or roughly 12,000 votes out of roughly 5 million ballots cast.

Persons: Donald Trump, Nikki Haley, —, Donald Trump romped, Trump, Haley, Joe Biden, Raphael Warnock, Jon Ossoff, Warnock, Republican Herschel Walker, Brian Kemp's, Stacey Abrams, Kemp, Brian Kemp, Georgia, Brynn Anderson, Fulton, Biden, Cobb, Brad Raffensperger, Trump's, Raffensperger Organizations: GOP, Georgia, WH, Service, Georgia Republican, South Carolina Gov, Trump, Super, The Atlanta, UN, Georgia Republicans, Republican, Independents, Gov, AP, Peach State Republicans, Biden, Georgia . College Locations: Atlanta, Georgia, Cobb , DeKalb, Fulton, Gwinnett, Atlanta ,, —, DeKalb, Cobb, Fulton County, Trump

☆ Dollar ends week under pressure as data keeps rate cut hopes alive
▼ + stars: | 2024-03-08 | by ( ) www.cnbc.com time to read: +4 min

The unemployment rate rose to 3.9% in February after holding at 3.7% for three straight months, the data showed. The euro got a lift this week as the dollar came under pressure after Federal Reserve Chair Jerome Powell sounded more confident about cutting interest rates in coming months. Currencies typically weaken if central banks lower interest rates. Against the yen, the dollar was 0.68% lower at 147.05 yen, its weakest since Feb. 2. Firming hopes that interest rates in the U.S. and Europe will start to fall in June also helped prop up the risk-sensitive Australian and New Zealand dollars.

Persons: Jerome Powell, Stuart Cole, Cole, Powell, Lindsey Bell, Kathleen Brooks, Sterling, BoE, Firming, bitcoin Organizations: Federal Reserve, Bureau of Labor Statistics, Equiti, ECB, Federal, Ventures, Bank of, Reuters, European Central Bank, U.S . Federal, Bank of England, New Locations: Japan, Charlotte , North Carolina, Bank of Japan, U.S, Europe, New Zealand

☆ Every Ariana Grande album, ranked from worst to best
▼ + stars: | 2024-03-08 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +1 min

1 on this list because it's the culmination of everything Grande does best. Only an artist with tremendous talent, clout, and emotional strength could have produced and released an album like this. That she managed to siphon this music from the depths of personal tragedy makes the effect even more sublime. If I were forced to choose, "NASA" and "Make Up" are the weakest of the bunch, but that certainly doesn't mean they're bad. In fact, it's a testament to the strength of this album that its "worst" songs are just slightly less dazzling than the rest.

Persons: it's Organizations: NASA, Press

☆ Best Buy tops holiday quarter estimates but issues soft full-year guidance
▼ + stars: | 2024-02-29 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

For this fiscal year, Best Buy anticipates revenue will range from $41.3 billion to $42.6 billion. In a news release Thursday, CEO Corie Barry said Best Buy expects the coming year to be one "of increasing industry sales stabilization." That metric is expected to improve in the coming year, as Best Buy benefits from changes to its annual membership program, a newer moneymaker for the retailer. Like home improvement companies, Best Buy saw outsized spending as shoppers were stuck at home. Shares of Best Buy closed at $79.68 on Wednesday, bringing the company's market value to $17.16 billion.

Persons: Corie Barry, they've, Matt Bilunas, Barry Organizations: LSEG, CNBC PRO Locations: U.S

☆ Dollar waits on U.S. inflation reading, bitcoin tops $60,000
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar was firm and the yen was headed for a monthly loss in the lead up to U.S. inflation data that could ruffle the interest rate outlook, while bitcoin surged above $60,000. The U.S. dollar was firm and the yen was headed for a monthly loss in the lead up to U.S. inflation data that could ruffle the interest rate outlook, while bitcoin surged above $60,000. Bitcoin is on a tear and topped $63,000 overnight as it rides a wave of cash rushing to new U.S. bitcoin exchange-traded funds. It is up more than 45% this month, its largest gain since December 2020 and a record high above $69,000 is within sight. The New Zealand dollar nursed losses on bets that rate hikes there are finished.

Persons: bitcoin, Masato Kanda, Sue Ann Lee, Kristina Clifton, Sterling Organizations: U.S, New Zealand, Reserve Bank of New, Federal, Commonwealth Bank of Australia Locations: Japan, U.S, Asia, Sao Paulo, Reserve Bank of New Zealand, Europe

☆ Macy’s posts another quarter of falling sales as it unveils strategy to get back to growth
▼ + stars: | 2024-02-27 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Macy's on Tuesday said sales fell nearly 2% in the holiday quarter, as the 166-year-old department store operator unveiled its strategy to get back to growth. Macy's plans to close about 150 unproductive locations and to prioritize investing in about 350 other namesake locations. In the fiscal year that starts in early 2025, Macy's said it expects low-single digit comparable sales growth on an annual basis, including owned, licensed and marketplace sales. The namesake store's comparable sales on an owned-plus-licensed basis dropped by 4.7%, as the women's shoes and cold weather apparel and accessories categories struggled. At Bloomingdale's, comparable sales declined 1.6% on an owned-plus-licensed basis, as the men's and designer handbag businesses came in soft.

Persons: Spring, Tony Spring, Macy's, Arkhouse Organizations: Arkhouse Management, Brigade Capital Management, LSEG, Revenue Locations: New York City, Macy's

☆ Ukraine war live updates: Russia is preparing a new summer offensive against Ukraine, Zelenskyy says; China slams sanctions threat
▼ + stars: | 2024-02-26 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Russia is preparing a new offensive against Ukraine that could begin in early summer, Ukrainian President Volodymyr Zelenskyy said Sunday. Ukraine denied it is at the weakest point in the war since Russia almost captured Kyiv nearly two years, telling NBC that this is the most difficult time in terms of unity. "I don't think that now it's the weakest moment," Zelenskyy told NBC Sunday, a day after the second anniversary of Russia's invasion of Ukraine. If we all split, both externally with the partners, and God forbid, internally, then it would be the weakest moment. He said 31,000 Ukrainian soldiers have been killed since Russia's invasion two years ago.

Persons: Volodymyr Zelenskyy, Zelenskyy Organizations: NBC, Kyiv Sunday Locations: Russia, Ukraine, Kyiv

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