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FedEx earnings miss could signal a slowing economy
  + stars: | 2024-09-20 | by ( Chris Isidore | ) edition.cnn.com   time to read: +3 min
CNN —FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy. “The labor market is in solid condition, and our intention with our policy move today is to keep it there,” Powell said. “You can say that about the whole economy: The US economy is in good shape. The labor market is at a strong pace. Shares of FedEx had been up 21% year-to-date through Thursday’s close before Friday’s decline.
Persons: Rajesh Subramaniam, ” Subramaniam, John Dietrich, Subramaniam, , , we’re, Jerome Powell, ” Powell Organizations: CNN, FedEx, Federal Reserve
London CNN —The European Union will loan Ukraine up to €35 billion ($39 billion) to help rebuild its economy, the bloc’s executive arm announced Friday. Western nations froze Russia’s assets in bank accounts located in Europe and the United States as part of a massive wave of sanctions enacted after Russian President Vladimir Putin ordered the full-scale invasion of Ukraine in 2022. Von der Leyen’s visit to Kyiv comes just as the winter heating season starts in Ukraine. Russia’s bombardments targeted at the country’s energy infrastructure have intensified in recent months, leaving Ukrainians vulnerable to power outages. On Thursday, the International Energy Agency said this coming winter will be the “sternest test yet” for Ukraine’s energy system.
Persons: Ursula von der Leyen, , Vladimir Putin, Von der Organizations: London CNN, European Union, International Energy Agency Locations: Ukraine, Kyiv, Europe, United States
AdvertisementBut as ugly as it is, going on the attack may be Combs' only defense, former federal prosecutors told Business Insider. Related storiesThose limits are set down in a section of the federal evidence statute known as "Rule 412." AdvertisementAgnifilo also mentioned a recorded conversation in which Ventura's lawyer asked Combs' lawyer for $30 million to keep the R&B star from publishing a tell-all book about the relationship. "That conversation, I guess, didn't go so well for her and the lawyer," Agnifilo said. Attacking the accuser can backfire at trialIf a judge does allow Combs to air his blame-the-accuser defense, it may backfire before a jury.
Persons: , Sean Combs, Cassandra, Cassie, Ventura, Marc Agnifilo, Combs, Agnifilo, he'd, Johnny Depp, Amber Heard, Depp, Ephraim Savitt, Savitt, Agniflo, Diddy, — Combs, Andrew Carter, Jennifer Beidel, Sean, Jane Rosenberg, didn't, Jeff Kravitz, FilmMagic, Elizabeth Geddes, Kelly, Geddes Organizations: Service, Business, Prosecutors, Combs, FBI, Shihata, Geddes LLP Locations: Manhattan, besmirching, Dykema, Ventura, Brooklyn, Geddes
CNN —Almost three decades ago, Richard Hays, a United Methodist minister and the soon-to-be dean of Duke Divinity School, wrote what quickly became the go-to traditionalist Christian argument against same-sex marriage. Fuller Theological Seminary, where Christopher Hays is a professor, also demands agreement with a faith statement that opposes same-sex marriage. Even as support for same-sex marriage has plateaued in the last few years, recent surveys from Gallup find that more than one in five Gen Z Americans identify as LGBTQ, and nearly 90% of Americans under 30 years old support same-sex marriage. The reversal from Hays certainly will not settle the debate among Christians when it comes from same-sex marriage. But I hope it makes opponents of same-sex marriage at least pause and wonder — is there a faithful path forward that makes room for people like me?
Persons: Richard Hays, Hays, he’s, , ” Richard Hays, Christopher Hays, , ” Hays, I’ve, , ” Les Todd, hasn’t, Richard’s, ‘ I’m, ” Christopher, Paul, “ I’m, I’m, ” Ryan Struyk, Ryan Struyk, CNN Hays, Al Mohler, Robert Gagnon, Preston Sprinkle, “ It’s, Matthew Vines, CNN “, ” Fuller, “ Fuller, David Emmanuel Goatley, Doug McSchooler, Greg Johnson, Louis Organizations: CNN, United Methodist, Duke Divinity School, Duke University, Bible School, Fuller Theological Seminary, Southern Baptist Theological Seminary, Conservative, for Faith, Christian Reformed Church, Religion News Service, Southern Baptist Convention, SBC, Presbyterian Church, PCA, Gallup Locations: , Grand Rapids , Michigan, Pasadena , California, North America, United States, Canada, Indianapolis, America
Today is triple witching expiration , the quarterly expiration of single stock and index options, and index futures. It's occurring at an unusual moment: the S & P 500 is at an historic high. Week after triple witch: poor Unfortunately, the week after the September triple witch is historically among the weakest of the year. S & P 500 rebalancing today The S & P 500 will see three new entrants at the close today, each of which will begin trading as part of the S & P on Monday: Dell Technologies , Erie Indemnity and Palantir Technologies . Finally, while the S & P 500 is at a new high, the Russell 2000 smallcap index is not far behind.
Persons: Chris Murphy, Jeff Hirsch, Dow Industrials, Hirsch, Dell, Russell Organizations: Stock, Nasdaq, Dell Technologies, Erie, Palantir Technologies, Etsy, Rad Laboratories, American Airlines Group Locations: Susquehanna
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell was trying to make sure the stock market didn't get disappointed: Komal Sri-KumarKomal Sri-Kumar, Sri-Kumar Global Strategies president, and Darrell Cronk, CIO of Wells Fargo’s wealth and investment management, join 'Squawk Box' to discuss the Fed's interest rate decision, what was behind Fed Chair Powell's decision to cut by 50 basis points, and more.
Persons: Powell, Komal, Kumar Komal, Kumar, Darrell Cronk, Wells Organizations: Kumar Global
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDon't see an unwinding in Yuan carry trade, 'worst is possibly over' for its offshore currencyChidu Narayanan of Wells Fargo Securities shares three reasons why he does not see the Yuan carry trade unwinding and says that USD/JPY will remain "rangebound" around 139-145 in the near term.
Persons: Yuan, Narayanan Organizations: Wells Fargo Securities Locations: Wells Fargo
China's yuan rose to its strongest level in nearly 16 months on Friday on bets that Beijing will unveil fresh economic stimulus following a jumbo U.S. rate cut, though gains were capped by dollar buying from Chinese state banks. The onshore yuan strengthened to as much as 7.0420 per dollar, the firmest level since May 24, 2023, on track for a six-session rising streak. The Fed cut rates by a larger than usual 50-basis-points on Wednesday. On Friday, China's major state-owned banks were seen buying dollars in the onshore market to prevent the yuan from appreciating too fast. Prior to the market opening, the People's Bank of China set the midpoint rate at 7.0644 per dollar, its strongest in nearly 16 months.
Persons: recouping, Zhiwei Zhang, Yang Fan Organizations: Citic Securities, People's Bank of Locations: Beijing, China, U.S, People's Bank of China
The best-selling country musicians of all time
  + stars: | 2024-09-20 | by ( Gabbi Shaw | ) www.businessinsider.com   time to read: +1 min
The best-selling country artists of all time include Elvis Presley, Tim McGraw, and Shania Twain. We used RIAA's data to compile this list based on total album units sold in the US. Only three artists on this list debuted in the 2000s: Carrie Underwood, Taylor Swift, and Rascal Flatts. In fact, two of the top three best-selling musicians of all time are country music artists: Elvis Presley and Garth Brooks. We used the Recording Industry Association of America's (RIAA) list of best-selling artists, ranked by albums sold, to pick out the top 25 most successful country musicians of all time.
Persons: Elvis Presley, Tim McGraw, Shania Twain, Carrie Underwood, Taylor Swift, Rascal, , Garth Brooks Organizations: Service, Recording Industry Association of America's, Business
The market for nonalcoholic drinks has been growing as more people — notably younger adults — look to cut their alcohol use. Bowdring says there’s emerging evidence that nonalcoholic beverages may prime kids to switch to the real thing. Surveys of elementary, middle and high school students in Japan, where the legal drinking age is 20, found that 20% to 30% said they were drinking nonalcoholic beverages. So minors in those states can buy nonalcoholic drinks but not those with low levels of alcohol. For minors, there’s no benefit in consuming nonalcoholic drinks, and there is some evidence of potential harm, she said — which is why she thinks states need to step in to curb sales.
Persons: , Molly Bowdring, Kristen Bell, Kelly Clarkson’s, , Bowdring, who’d, Leon Booth, ” Booth, ” Lisa Hawkins, Busch, officiais, Dr, Sanjay Gupta, there’s Organizations: CNN, Stanford Prevention Research, George Institute for Global Health, Budweiser, “ Anheuser, Beer, Constellation Brands, District of Columbia, Get CNN, CNN Health Locations: Corona, Japan, Taiwan, Australia, New South Wales, Georgia, Idaho, Florida, Kansas
Lennar — The homebuilding stock slipped 3% despite beating analysts' expectations for its fiscal third quarter. Trump Media & Technology Group — Shares traded nearly 5% lower as selling restrictions on former President Donald Trump and other early investors ended. PepsiCo — The snacks and beverage stock slipped 1% following a downgrade at Morgan Stanley to equal weight from overweight. ASML — Shares slipped 2% after Morgan Stanley downgraded the semiconductor manufacturer to equal weight from overweight. Aptiv — Shares of the automobile technology supplier rose more than 1% after an upgrade to overweight from equal weight at Wells Fargo.
Persons: John Donahue, Elliott Hill, Lennar, LSEG, Donald Trump, MillerKnoll, Tesla, Morgan Stanley, Lee Simpson, Piper Sandler, Chewy, Buddy Chester, CNBC's Michelle Fox, Sarah Min, Jesse Pound, Samantha Subin Organizations: Nike —, FedEx —, Trump Media & Technology, , Constellation Energy, Microsoft, — Auto, Mercedes, General Motors, PepsiCo, Contessa Pharmaceuticals, Valero Energy Locations: China, Wells Fargo
Deutsche Bank Research discusses outlook for BOE rates
  + stars: | 2024-09-20 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeutsche Bank Research discusses outlook for BOE ratesSanjay Raja, chief U.K. economist at Deutsche Bank, discusses the outlook for the Bank of England's interest rates.
Persons: BOE, Sanjay Raja Organizations: Deutsche Bank Research, Deutsche Bank, Bank of
Norma Field walks under power lines coming off of the nuclear plant on Three Mile Island (TMI), with the operational plant run by Exelon Generation, in Middletown, Pennsylvania. Constellation Energy plans to restart the Three Mile Island nuclear plant and will sell the power to Microsoft, demonstrating the immense power needs of the tech sector as they build out data centers to support artificial intelligence. Constellation described the agreement with Microsoft as the largest power purchase agreement that the nuclear plant operator has ever signed. Three Mile Island would be the second nuclear plant to restart operations in U.S. history. The Palisades nuclear plant in Michigan would be the first, with that plant expected to return to service at the end of 2025.
Persons: Norma Field, Constellation, Joe Dominguez, Goldman Sachs Organizations: Exelon, Constellation Energy, Microsoft, Constellation, Nuclear Regulatory Commission, Clean Energy Center, Rystad Energy, Turkey . Tech, Amazon Web Services, Talen Energy, Susquehanna, Oracle Locations: Middletown , Pennsylvania, Turkey, Pennsylvania, Michigan
Read previewThere are classic Korean barbecue dishes that everyone knows and loves, from the ribeye and short rib meats to traditional banchan like japchae and kimchi. AdvertisementOrder pork jowl over pork bellyKim said Baekjeong helped introduce pork jowl to the Korean barbecue market. AdvertisementNever skip on outside skirt steakKim said outside skirt steak is one of his favorite cuts of beef at KBBQ. "And short rib is the king of Korean barbecue, so I also always order short rib." Courtesy of BaekjeongA great Korean barbecue meal typically ends with a cold noodle soup, according to Kim.
Persons: , Chef Samuel Kim, Kim, Baekjeong, That's Organizations: Service, Business Locations: Baekjeong
Today, makeup is part of everyday life, part of how we see ourselves and how others see us. As I grew up and my vision became more impaired, my relationship with makeup, and myself, started to crumble. Smoky eyes ‘til I dieI used to avoid eye makeup because precision was never my strong suit. Embrace your faceMy relationship with makeup has taught me many things, but the most important lesson is that it’s okay to embrace your face. Though my sister and I no longer live together, we still bond over our shared love of makeup.
Persons: kohl, JIA, Freya Rogers, , Charlotte Tilbury’s, I’ve Organizations: CNN, kohl Locations: Egypt
A Japanese flag is displayed as shoppers and pedestrians walk past stores at a shopping street in Tokyo, Japan, on Wednesday, Nov. 23, 2016. Asia-Pacific markets opened higher on Friday with Japan's Nikkei 225 leading gains, after Wall Street soared overnight following the Federal Reserve's outsized rate cut. Japan's core consumer prices index climbed 2.8% year on year, in line with Reuters estimates, versus a 2.7% rise in the previous month. The reading will be the last gauge of the economy before the BOJ concludes its two-day monetary policy meeting, where it's expected to keep interest rates unchanged at 0.25%. The Japanese yen was nearly flat at 142.67.
Persons: PBOC Organizations: Japan's Nikkei Locations: Tokyo, Japan, Asia, Pacific
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApollo Global CEO: A year from now, you won't be able to tell the difference between public and privateCNBC's David Faber sits down with Apollo Global CEO Marc Rowan to discuss the Fed's latest move, the odds of recession, government spending, and more. You can watch the full interview on CNBC PRO.
Persons: David Faber, Marc Rowan Organizations: Apollo, Apollo Global, CNBC PRO
Oil prices set to end week higher after U.S. rate cut
  + stars: | 2024-09-20 | by ( ) www.cnbc.com   time to read: +1 min
Oil prices, which were little changed in early Asian trade on Friday, were on track to end higher for a second straight week following a large cut in U.S. interest rates and declining global stockpiles. Brent futures , which were trading 19 cents or 0.3% lower at $73.69 a barrel at 0027 GMT on Friday, gained 4.3% this week. The U.S. central bank cut interest rates by half a percentage point on Wednesday. Weak demand from China's slowing economy was weighing on prices, with refinery output in China slowing for a fifth month in August. China's industrial output growth also slowed to a five-month low last month, and retail sales and new home prices weakened further.
Persons: Brent Organizations: Citi Locations: Brent, U.S, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect to keep policy rate at 4.5% until end of the year, Norway central bank chief saysNorges Bank Governor Ida Wolden Bache discusses the decision to hold interest rates in September.
Persons: Norges Bank Governor Ida Wolden Bache Organizations: Norges Bank Governor Locations: Norway
Polish American voters are having a moment. “The Polish American vote there is meaningful,” Jackson said. “A question I frequently get is whether there is even such a thing as a Polish American vote. The efforts by Harris and Trump show “the candidates are clearly making a play for the Polish American vote,” said Dominik Stecula, an assistant professor of communications at Ohio State University. Many Polish Americans do not speak Polish and have never been to Poland, and they long ago moved to the suburbs from the tightly packed Polish neighborhoods that once predominated.
Persons: Kamala Harris, Donald Trump, ” Harris, Trump, Harris, Tom Malinowski, Maureen Pikarski, Joe Biden's, Malinowski, Andrzej Duda, Duda, David James Jackson, , ” Jackson, , Dominik Stecula, ” Malinowski, Stecula, ” Stecula, Vladimir Putin, Putin, Jackson, it’s Organizations: Polish, New, Harris Facebook, Biden, National, of, Solidarity, Bowling Green State University, Trump, Ohio State University, Democratic, Piast Institute, Survey Locations: Pennsylvania, New Jersey, Chicago, Polish, Poland, Ukraine, Krakow, Czestochowa, Philadelphia, Soviet Union, Ohio, Polish American, Pennsylvania , Michigan, Wisconsin, Michigan, Stecula, U.S, Luzerne County, Wilkes, Barre
ISER Caribe executive director Stacey Williams dives underwater to clip lines of astroturf-like material where baby sea urchins are growing. The group is working to restore 5 acres of coral reef in Puerto Rico by planting fragments across six reefs and returning long-spined sea urchins to the ecosystem. Then, once the urchins reach young adult size, the researchers place them in a coral reef in need of extra support. Manzello said scientists used to think coral had a longer runway — perhaps until 2040 or 2050 — before conditions became so grim. A look at the underwater lab where ISER Caribe nurtures baby sea urchins.
Persons: Derek Manzello, ” Manzello, , That’s, they’d, Stacey Williams, Jackie Montalvo, Maura Barrett, , , ” Williams, Juan Torres, Andrew Baker, ” Baker, Manzello, “ You’re, We’ve, haven’t, Evan Bush Organizations: Oceanic, Reef Watch, NOAA, Atlantic, ISER Caribe, NBC, Preserve ., Institute for, Ecological Research, ISER, NASA, Caribe, University of Miami, Rosenstiel, of Marine, Science Locations: Florida, Atlantic, Brazil, Puerto Rico, ISER Caribe, Puerto Rican, La Parguera, Honduras, Caribbean, Seattle, La
Los Angeles Dodgers designated hitter Shohei Ohtani hit his 50th home run and stole his 50th base of the season Thursday, becoming the first MLB player to reach both benchmarks in the same season. Ohtani entered Thursday’s game against the Miami Marlins with 48 home runs and 49 stolen bases. He stole two bases to reach 51 and knocked out three homers — one in the sixth inning, another in the seventh and a final in the ninth — to reach 51. Ohtani finished the game 6-for-6 with three home runs and 10 RBIs. Entering Thursday, Ohtani ranked sixth in Wins Above Replacement, one of only six players with WARs above 7.0Ohtani signed a 10-year, $700 million contract with Los Angeles before this season.
Persons: Shohei Ohtani, Ohtani, Tommy John, Organizations: Los Angeles Dodgers, MLB, Miami Marlins, Los, Dodgers, NL West Locations: Los Angeles
ANN ARBOR, Mich. — Battleground state election officials from both parties are pushing back against a falsehood that has proven pervasive ahead of the 2024 reaction: that noncitizens are voting in widespread numbers. The comments came as former President Donald Trump and his GOP allies have talked up efforts to crack down on noncitizens voting, which is already illegal. Maricopa County has sued seeking clarity on whether those voters can vote in state and local elections this fall. Republicans at the national and state level have fueled unfounded noncitizen voting claims in the run-up to this year's presidential election. Election officials said Thursday they were taking steps to debunk conspiracy theories ahead of the 2024 election.
Persons: Donald Trump, , , Al Schmidt, Schmidt, they’re, Jocelyn Benson, Benson, ” Benson, , Bob Bauer, Ben Ginsberg, Brad Raffensperger, ” Raffensperger, we’re, Mike Johnson, Ken Paxton, they're, it's, Karen Brinson Bell, It's, Stephen Richer, Katie Hobbs, Richer, Kim Pytleski Organizations: GOP, Department of Transportation, The, Republican, Republicans, Texas, Arizona Gov Locations: Mich, , Pennsylvania, Philadelphia, Michigan, American, Arizona, Maricopa County, Georgia, Oconto County , Wisconsin
A district judge in Kentucky was fatally shot in his chambers Thursday afternoon, Gov. "Sadly, I have been informed that a district judge in Letcher County was shot and killed in his chambers this afternoon," the governor wrote on X. Letcher County coroner Perry Fowler told NBC News that Judge Kevin Mullins, 54, was shot and killed. The Letcher County courthouse is in Whitesburg, about 200 miles southeast of Louisville. "Following the deadly shooting in Letcher County, our Office will collaborate with Commonwealth’s Attorney for the 27th Judicial Circuit Jackie Steele as special prosecutors in this case.
Persons: Andy Beshear, Beshear, Perry Fowler, Kevin Mullins, Matt Gayheart, Kevin R, Mullins, Russell Coleman, Jackie Steele, Coleman Organizations: NBC News, Louisville . Kentucky State Police, Judicial, Central High School, Kentucky, Justice, Commonwealth’s Locations: Kentucky, Letcher County, Letcher, Whitesburg, Louisville .
Among Black voters over 50, 89% said they back Harris, but for those under 50, that figure drops to 75%. Jim Pillen and about two dozen Republican legislators on behalf of the Trump campaign as part of an effort to change how Nebraska allocates its Electoral College votes. Jim Pillen and about two dozen Republican legislators on behalf of the Trump campaign as part of an effort to change how Nebraska allocates its Electoral College votes. Read more → 💻 Hacking fallout: Iranian hackers sent material they stole from Trump’s campaign to people associated with Biden’s campaign, according to the FBI. Read more →Iranian hackers sent material they stole from Trump’s campaign to people associated with Biden’s campaign, according to the FBI.
Persons: Jonathan Allen, Donald Trump, Kamala Harris, Mark Robinson, he’s, Trump, ransoming, Caroline Bruckner, ” Bruckner, Harris, She’s, , , Charlie Dent, Read, Adam Edelman, Alexandra Marquez Mark Robinson, Robinson, Josh Stein, Kamala Harris ’, Stephanie Perry, Curtis Bunn, undecideds, Joe, Lin, Jim, teri, Ira Organizations: NBC, White House, Capitol, CNN, Trump, Social, Republican, NAZI, Democratic, Black, Howard University Initiative, Public, Biden Locations: Carolina, Washington, N.C, North Carolina, Black, Arizona , Georgia, Michigan, Nevada , North Carolina , Pennsylvania, Wisconsin, bou
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