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+"Starbucks shakes up its leadership again, adding two former Taco Bell executives",https://www.cnbc.com/2025/01/28/starbucks-adds-two-former-taco-bell-executives-ahead-of-earnings.html,2025-01-28T21:58:50+0000,"In this articleStarbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.""As we focus on our 'Back to Starbucks' plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for each role,"" Niccol said in a letter to employees shared on the company's website.Starbucks announced the move hours before it reported fiscal first-quarter earnings and revenue that topped analyst expectations. As the company tries to mount a turnaround, same-stores sales declined for the fourth straight quarter, but not as badly as Wall Street expected.Before spending six years at Chipotle, Niccol served as CEO of Yum Brands' Taco Bell. Since starting at Starbucks in September, he has already poached some of his former colleagues to help with his transformation of the coffee giant. For example, he tapped Chipotle and Yum Brands alum Tressie Lieberman as Starbucks' global chief brand officer in the fall.The newest changes to the Starbucks organization include splitting the role of North American president into two jobs. The company's current North American president, Sara Trilling, will depart the company. Trilling has been with Starbucks since 2002.Starting in February, Meredith Sandland will hold the role of chief store development officer. Sandland is currently CEO of Empower Delivery, a restaurant software company. Previously, she served as chief operating officer of Kitchen United and as Taco Bell's chief development officer.Additionally, Mike Grams will join the company in February as North America chief stores officer. Grams has been with Taco Bell for more than 30 years, starting as a restaurant general manager and working his way up to become the chain's global chief operating officer, according to his LinkedIn.Both Sandland and Grams will be tasked with implementing Niccol's vision to go ""back to Starbucks."" The strategy includes decreasing service times to four minutes per order, making its stores more welcoming and cozy, as well as slashing the menu.Arthur Valdez, Starbucks' chief supply officer, also plans to leave the company. He joined in 2023 after seven years at Target. Starbucks has already identified his replacement and will share that news in the coming weeks, Niccol said in the letter.",CNBC,28/01/2025,"['In this articleStarbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.', '""As we focus on our \'Back to Starbucks\' plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for each role,"" Niccol said in a letter to employees shared on the company\'s website.', 'Starbucks announced the move hours before it reported fiscal first-quarter earnings and revenue that topped analyst expectations.', 'As the company tries to mount a turnaround, same-stores sales declined for the fourth straight quarter, but not as badly as Wall Street expected.', ""Before spending six years at Chipotle, Niccol served as CEO of Yum Brands' Taco Bell."", 'Since starting at Starbucks in September, he has already poached some of his former colleagues to help with his transformation of the coffee giant.', ""For example, he tapped Chipotleand Yum Brands alum Tressie Lieberman as Starbucks' global chief brand officer in the fall."", 'The newest changes to the Starbucks organization include splitting the role of North American president into two jobs.', ""The company's current North American president, Sara Trilling, will depart the company."", 'Trilling has been with Starbucks since 2002.Starting in February, Meredith Sandland will hold the role of chief store development officer.', 'Sandland is currently CEO of Empower Delivery, a restaurant software company.', ""Previously, she served as chief operating officer of Kitchen United and as Taco Bell's chief development officer."", 'Additionally, Mike Grams will join the company in February as North America chief stores officer.', ""Grams has been with Taco Bell for more than 30 years, starting as a restaurant general manager and working his way up to become the chain's global chief operating officer, according to his LinkedIn."", 'Both Sandland and Grams will be tasked with implementing Niccol\'s vision to go ""back to Starbucks.""', 'The strategy includes decreasing service times to four minutes per order, making its stores more welcoming and cozy, as well as slashing the menu.', ""Arthur Valdez, Starbucks' chief supply officer, also plans to leave the company."", 'He joined in 2023 after seven years at Target.', 'Starbucks has already identified his replacement and will share that news in the coming weeks, Niccol said in the letter.']",0.1644333841535685,"""As we focus on our 'Back to Starbucks' plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for each role,"" Niccol said in a letter to employees shared on the company's website.","In this articleStarbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.",0.3316976229349772,Starbucks announced the move hours before it reported fiscal first-quarter earnings and revenue that topped analyst expectations.,"As the company tries to mount a turnaround, same-stores sales declined for the fourth straight quarter, but not as badly as Wall Street expected.",2025-02-03
+"FDA approves Vertex’s non-opioid painkiller, first new kind of pain medicine in decades",https://www.cnbc.com/2025/01/30/fda-approves-vertex-non-opioid-painkiller-drug.html,2025-01-31T15:12:11+0000,"In this articleThe Food and Drug Administration on Thursday approved Vertex Pharmaceuticals' non-opioid painkiller pill, a new alternative for pain relief that comes without the risk of addiction. Vertex is now the first drugmaker in decades to gain U.S. approval for a new type of pain medicine. It's a milestone after a long history of mostly unsuccessful efforts to develop painkillers without the destructive dependency of cheap and widely available opioids, which have caused a horrific epidemic of abuse and overdose in the U.S.Vertex's drug, Journavx, is specifically approved for the treatment of moderate to severe acute pain, which is usually caused by injury, surgery, illness, trauma or painful medical procedures and likely eases with time. Around 80 million patients are prescribed a medicine for their moderate to severe acute pain every year in the U.S., according to Vertex. Almost 10% of patients with acute pain who are treated initially with an opioid will go on to have prolonged opioid use, and roughly 85,000 people will develop opioid use disorder annually, Vertex said in a statement.""We have the opportunity to change the paradigm of acute pain management and establish a new standard of care,"" Dr. Reshma Kewalramani, Vertex CEO, said in a statement.Vertex said Journavx will have a list price of $15.50 per 50-milligram pill. Wall Street analysts have said that the medication could become a blockbuster drug if it wins approval from regulators, estimating its annual sales could exceed $1 billion. The experience of pain starts in a nerve ending, and the body detects the pressure and sends a signal to the spinal cord and then the brain. Vertex's treatment works by blocking pain signals at their origin before they reach the brain. That's different from opioids, which act directly on the brain to block pain, triggering the brain's rewards centers in a way that can feed addiction.The approval underscores the ""FDA's commitment to approving safe and effective alternatives to opioids for pain management,"" said Dr. Jacqueline Corrigan-Curay, acting director of the FDA's Center for Drug Evaluation and Research, in a release.Vertex's painkiller was more effective than a placebo at reducing the intensity of pain after 48 hours in two late-stage studies on more than 1,000 patients who had abdominoplasties, also known as ""tummy tucks,"" and roughly another thousand in people who had bunion surgery. Those two procedures are commonly used in studies of people with acute pain.The painkiller, however, failed to meet the secondary goal in both trials of reducing pain when compared with a combination of the opioid drug hydrocodone, which is frequently abused, and acetaminophen, the basis for popular pain medications such as Tylenol.In both trials, rates of adverse side effects were lower in those who received Vertex's drug compared with people who took a placebo. The most commonly reported adverse events among people who received Journavx were itching, muscle spasms and rash, among others, according to the FDA.In a separate phase three study, more than 83% of patients said in a survey that the drug was good, very good or excellent at easing pain. Those people had undergone various surgical or nonsurgical procedures.The bigger opportunity for Vertex may be to win FDA approval in chronic pain. That's an area where the risk of addiction to prescription opioids can be greater, according to the Centers for Disease Control and Prevention. In 2023, the company's painkiller produced positive results in a mid-stage trial in diabetes patients suffering from a chronic nerve condition.",CNBC,31/01/2025,"[""In this articleThe Food and Drug Administration on Thursday approved Vertex Pharmaceuticals' non-opioid painkiller pill, a new alternative for pain relief that comes without the risk of addiction."", 'Vertex is now the first drugmaker in decades to gain U.S. approval for a new type of pain medicine.', ""It's a milestone after a long history of mostly unsuccessful efforts to develop painkillers without the destructive dependency of cheap and widely available opioids, which have caused a horrific epidemic of abuse and overdose in the U.S.Vertex's drug, Journavx, is specifically approved for the treatment of moderate to severe acute pain, which is usually caused by injury, surgery, illness, trauma or painful medical procedures and likely eases with time."", 'Around 80 million patients are prescribed a medicine for their moderate to severe acute pain every year in the U.S., according to Vertex.', 'Almost 10% of patients with acute pain who are treated initially with an opioid will go on to have prolonged opioid use, and roughly 85,000 people will develop opioid use disorder annually, Vertex said in a statement.', '""We have the opportunity to change the paradigm of acute pain management and establish a new standard of care,"" Dr. Reshma Kewalramani, Vertex CEO, said in a statement.', 'Vertex said Journavx will have a list price of $15.50 per 50-milligram pill.', 'Wall Street analysts have said that the medication could become a blockbuster drug if it wins approval from regulators, estimating its annual sales could exceed $1 billion.', 'The experience of pain starts in a nerve ending, and the body detects the pressure and sends a signal to the spinal cord and then the brain.', ""Vertex's treatment works by blocking pain signals at their origin before they reach the brain."", ""That's different from opioids, which act directly on the brain to block pain, triggering the brain's rewards centers in a way that can feed addiction."", 'The approval underscores the ""FDA\'s commitment to approving safe and effective alternatives to opioids for pain management,"" said Dr. Jacqueline Corrigan-Curay, acting director of the FDA\'s Center for Drug Evaluation and Research, in a release.', 'Vertex\'s painkiller was more effective than a placebo at reducing the intensity of pain after 48 hours in two late-stage studies on more than 1,000 patients who had abdominoplasties, also known as ""tummy tucks,"" and roughly another thousand in people who had bunion surgery.', 'Those two procedures are commonly used in studies of people with acute pain.', 'The painkiller, however, failed to meet the secondary goal in both trials of reducing pain when compared with a combination of the opioid drug hydrocodone, which is frequently abused, and acetaminophen, the basis for popular pain medications such as Tylenol.', ""In both trials, rates of adverse side effects were lower in those who received Vertex's drug compared with people who took a placebo."", 'The most commonly reported adverse events among people who received Journavx were itching, muscle spasms and rash, among others, according to the FDA.In a separate phase three study, more than 83% of patients said in a survey that the drug was good, very good or excellent at easing pain.', 'Those people had undergone various surgical or nonsurgical procedures.', 'The bigger opportunity for Vertex may be to win FDA approval in chronic pain.', ""That's an area where the risk of addiction to prescription opioids can be greater, according to the Centers for Disease Control and Prevention."", ""In 2023, the company's painkiller produced positive results in a mid-stage trial in diabetes patients suffering from a chronic nerve condition.""]",-0.0743587404770383,"Wall Street analysts have said that the medication could become a blockbuster drug if it wins approval from regulators, estimating its annual sales could exceed $1 billion.","It's a milestone after a long history of mostly unsuccessful efforts to develop painkillers without the destructive dependency of cheap and widely available opioids, which have caused a horrific epidemic of abuse and overdose in the U.S.Vertex's drug, Journavx, is specifically approved for the treatment of moderate to severe acute pain, which is usually caused by injury, surgery, illness, trauma or painful medical procedures and likely eases with time.",0.6661437253157297,"In 2023, the company's painkiller produced positive results in a mid-stage trial in diabetes patients suffering from a chronic nerve condition.","The painkiller, however, failed to meet the secondary goal in both trials of reducing pain when compared with a combination of the opioid drug hydrocodone, which is frequently abused, and acetaminophen, the basis for popular pain medications such as Tylenol.",2025-02-03
+"Comcast stock falls 11% after company underwhelms in broadband, Peacock subscribers",https://www.cnbc.com/2025/01/30/comcast-cmcsa-earnings-q4-2024.html,2025-01-30T21:15:07+0000,"In this articleComcast topped Wall Street's fourth-quarter estimates Thursday despite reporting larger-than-expected broadband subscriber losses and stagnating paid subscribers for its streaming service, Peacock.Wall Street has been particularly focused on cable companies' broadband businesses, which still garner high revenue and earnings but have been in the midst of a customer growth slump due to heightened competition from wireless companies, among other factors.At the same time, streaming has been top of mind for the Street. Although profitability is now considered the key measure of success, investors have taken note of recent subscriber additions by major players since the introduction of cheaper, ad-supported tiers.Comcast reported Thursday that it lost 139,000 residential broadband customers during the fourth quarter, more than the 100,000 losses that Comcast Cable CEO Dave Watson had telegraphed in December during an investor conference.Comcast President Mike Cavanagh on Thursday's investor call said the broadband losses were ""disappointing and worse than what we indicated in early December.""The company also reported Thursday that Peacock had 36 million subscribers during the most recent quarter, up year over year but flat from the prior period. Wall Street had been looking for total paid subscribers of 37.56 million, according to estimates from StreetAccount.Comcast shares fell 11% Thursday.Here is how the company performed for the quarter, compared with average analyst estimates from LSEG: For the quarter ended Dec. 31, net income attributable to Comcast rose roughly 47% to $4.78 billion, or $1.24 per share, compared with $3.26 billion, or 81 cents per share, a year earlier. Adjusting for one-time items, including interest expense and the value of certain assets, Comcast reported earnings per share of 96 cents for the period. Adjusted earnings before interest, taxes, depreciation and amortization was up about 10% to $8.81 billion. In addition to higher broadband revenue, Comcast's overall revenue was up 2% to $31.92 billion, thanks to an increase in segments including its mobile business, the film studio and revenue growth at streaming service Peacock. During the fourth quarter of 2023, Comcast reported revenue of $31.25 billion. Despite the slowdown in cable industry broadband customer growth, the business is a key driver on balance sheets like Comcast's as average revenue per user has risen. Broadband is part of Comcast's Connectivity and Platforms segment, which also includes Xfinity Mobile wireless, which was launched in 2017. The company surpassed 7.8 million mobile lines, and revenue from the unit helped propel overall residential connectivity revenue. Comcast executives Thursday said the company would shift focus to the mobile business in a push to add more lines and further bundle it with broadband. Watson said Thursday the company will ""put the pedal down"" on the mobile effort in the second quarter.Comcast lost 311,000 cable TV customers during the fourth quarter. Meanwhile, revenue for the company's Content and Experiences business, which includes NBCUniversal's TV networks and streaming, the film studio and theme parks, was up 5% to roughly $12.08 billion during the fourth quarter. Revenue for the media segment, which includes the TV networks, was up 3.5% to about $7.22 billion, namely due to higher revenue for Peacock due to an uptick in paid subscribers on the platform from the prior year. Overall domestic advertising for the media segment was flat as ad dollars for Peacock increased but the TV networks saw a smaller haul. The media segment reported $298 million in adjusted EBITDA, falling short of Wall Street expectations of $317.1 million for the quarter, according to StreetAccount estimates. The rest of the businesses in the content and experiences segment beat StreetAccount estimates, including overall adjusted EBITDA.In November, Comcast announced it would spin off its cable network channels, a portfolio that includes CNBC, MSNBC, E!, Syfy, USA, Oxygen and the Golf Channel. The separation, which will also include digital assets such as Fandango and Rotten Tomatoes, is expected to take about a year. The NBC broadcast network, cable channel Bravo and Peacock will remain with Comcast.Peacock has been moving toward profitability in recent quarters. On Thursday, Comcast reported Peacock had $1.3 billion in fourth-quarter revenue and an adjusted EBITDA loss of $372 million, compared with $1 billion in revenue and an adjusted EBITDA loss of $825 million in the same period last year. Peacock's subscriber growth often rises on the back of major live sporting events on the platform. The Summer Olympics in Paris was a key driver in the third quarter, when the platform added 3 million subscribers. Exclusive NFL games have helped pad the streamer's numbers, and the company has touted the addition of the NBA and WNBA next season.Universal Studios' revenue was up 6.7% to $3.27 billion, and the segment's adjusted EBITDA was up 85% to $569 million, boosted by the box office successes of films including ""Kung Fu Panda 4,"" ""Despicable Me 4,"" ""The Wild Robot"" and ""Wicked."" Meanwhile, Theme Parks revenue was flat as lower attendance persisted at domestic locations. Disclosure: Comcast owns NBCUniversal, the parent company of CNBC. NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.",CNBC,30/01/2025,"[""In this articleComcast topped Wall Street's fourth-quarter estimates Thursday despite reporting larger-than-expected broadband subscriber losses and stagnating paid subscribers for its streaming service, Peacock."", ""Wall Street has been particularly focused on cable companies' broadband businesses, which still garner high revenue and earnings but have been in the midst of a customer growth slump due to heightened competition from wireless companies, among other factors."", 'At the same time, streaming has been top of mind for the Street.', 'Although profitability is now considered the key measure of success, investors have taken note of recent subscriber additions by major players since the introduction of cheaper, ad-supported tiers.', 'Comcast reported Thursday that it lost 139,000 residential broadband customers during the fourth quarter, more than the 100,000 losses that Comcast Cable CEO Dave Watson had telegraphed in December during an investor conference.', 'Comcast President Mike Cavanagh on Thursday\'s investor call said the broadband losses were ""disappointing and worse than what we indicated in early December.', '""The company also reported Thursday that Peacock had 36 million subscribers during the most recent quarter, up year over year but flat from the prior period.', 'Wall Street had been looking for total paid subscribers of 37.56 million, according to estimates from StreetAccount.', 'Comcast shares fell 11% Thursday.', 'Here is how the company performed for the quarter, compared with average analyst estimates from LSEG:For the quarter ended Dec. 31, net income attributable to Comcast rose roughly 47% to $4.78 billion, or $1.24 per share, compared with $3.26 billion, or 81 cents per share, a year earlier.', 'Adjusting for one-time items, including interest expense and the value of certain assets, Comcast reported earnings per share of 96 cents for the period.', 'Adjusted earnings before interest, taxes, depreciation and amortization was up about 10% to $8.81 billion.', ""In addition to higher broadband revenue, Comcast's overall revenue was up 2% to $31.92 billion, thanks to an increase in segments including its mobile business, the film studio and revenue growth at streaming service Peacock."", 'During the fourth quarter of 2023, Comcast reported revenue of $31.25 billion.', ""Despite the slowdown in cable industry broadband customer growth, the business is a key driver on balance sheets like Comcast's as average revenue per user has risen."", ""Broadband is part of Comcast's Connectivity and Platforms segment, which also includes Xfinity Mobile wireless, which was launched in 2017."", 'The company surpassed 7.8 million mobile lines, and revenue from the unit helped propel overall residential connectivity revenue.', 'Comcast executives Thursday said the company would shift focus to the mobile business in a push to add more lines and further bundle it with broadband.', 'Watson said Thursday the company will ""put the pedal down"" on the mobile effort in the second quarter.', 'Comcast lost 311,000 cable TV customers during the fourth quarter.', ""Meanwhile, revenue for the company's Content and Experiences business, which includes NBCUniversal's TV networks and streaming, the film studio and theme parks, was up 5% to roughly $12.08 billion during the fourth quarter."", 'Revenue for the media segment, which includes the TV networks, was up 3.5% to about $7.22 billion, namely due to higher revenue for Peacock due to an uptick in paid subscribers on the platform from the prior year.', 'Overall domestic advertising for the media segment was flat as ad dollars for Peacock increased but the TV networks saw a smaller haul.', 'The media segment reported $298 million in adjusted EBITDA, falling short of Wall Street expectations of $317.1 million for the quarter, according to StreetAccount estimates.', 'The rest of the businesses in the content and experiences segment beat StreetAccount estimates, including overall adjusted EBITDA.In November, Comcast announced it would spin off its cable network channels, a portfolio that includes CNBC, MSNBC, E!,', 'Syfy, USA, Oxygen and the Golf Channel.', 'The separation, which will also include digital assets such as Fandango and Rotten Tomatoes, is expected to take about a year.', 'The NBC broadcast network, cable channel Bravo and Peacock will remain with Comcast.', 'Peacock has been moving toward profitability in recent quarters.', 'On Thursday, Comcast reported Peacock had $1.3 billion in fourth-quarter revenue and an adjusted EBITDA loss of $372 million, compared with $1 billion in revenue and an adjusted EBITDA loss of $825 million in the same period last year.', ""Peacock's subscriber growth often rises on the back of major live sporting events on the platform."", 'The Summer Olympics in Paris was a key driver in the third quarter, when the platform added 3 million subscribers.', ""Exclusive NFL games have helped pad the streamer's numbers, and the company has touted the addition of the NBA and WNBA next season."", 'Universal Studios\' revenue was up 6.7% to $3.27 billion, and the segment\'s adjusted EBITDA was up 85% to $569 million, boosted by the box office successes of films including ""Kung Fu Panda 4,"" ""Despicable Me 4,"" ""The Wild Robot"" and ""Wicked.', '""Meanwhile, Theme Parks revenue was flat as lower attendance persisted at domestic locations.', 'Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.', 'NBCUniversal owns NBC Sports and NBC Olympics.', 'NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.']",0.0597997125879288,"Adjusting for one-time items, including interest expense and the value of certain assets, Comcast reported earnings per share of 96 cents for the period.","Comcast President Mike Cavanagh on Thursday's investor call said the broadband losses were ""disappointing and worse than what we indicated in early December.",0.3477487707138061,"Meanwhile, revenue for the company's Content and Experiences business, which includes NBCUniversal's TV networks and streaming, the film studio and theme parks, was up 5% to roughly $12.08 billion during the fourth quarter.","""Meanwhile, Theme Parks revenue was flat as lower attendance persisted at domestic locations.",2025-02-03
+Three key takeaways from Robert F. Kennedy Jr.'s Senate confirmation hearing,https://www.cnbc.com/2025/01/29/watch-rfk-jr-senate-confirmation-hearing-for-hhs-secretary.html,2025-01-29T21:27:00+0000,"Robert F. Kennedy Jr., President Donald Trump's controversial pick to lead the Department of Health and Human Services, testified Wednesday before a crucial Senate panel, where he faced questions about vaccine skepticism, his evolving views on abortion and grasp of sprawling federal health programs.Kennedy, 71, appeared first before the Senate Committee on Finance, which will vote on whether his nomination as HHS secretary advances to the full chamber. In the Republican-controlled Senate, Kennedy can lose only three GOP votes if all Democrats oppose him.He will also appear before the Senate Committee on Health, Education, Labor and Pensions for a courtesy hearing Thursday.He sidestepped many of the questions as senators grilled him Wednesday. He also struggled to answer some questions about Medicare and Medicaid, and often said he would defer to Trump on policies in such areas as reproductive rights and prescription drug price negotiations.If confirmed, Kennedy will take the reins of a $1.7 trillion agency that oversees vaccines and other medicines, scientific research, public health infrastructure, pandemic preparedness, food and tobacco products, and government-funded health care for millions of Americans. The heads of the Food and Drug Administration, Centers for Disease Control and Prevention, National Institutes of Health, and Centers for Medicare & Medicaid Services, among other federal health agencies, all report to the HHS secretary.Kennedy has faced criticism from both sides of the aisle. He is a prominent vaccine skeptic, making false claims that they are linked to autism despite decades of studies that debunk that association.Kennedy is also the founder of the nonprofit Children's Health Defense, the most well-funded anti-vaccine organization in the U.S. In a government ethics agreement last week, he said he stopped serving as chairman or chief legal counsel for the organization as of December.Some critics have argued that his work advocating against vaccine use has cost lives and could deter more Americans from getting recommended shots at a time when vaccination rates are declining.A protester in the hearing room shouted when Kennedy denied he was anti-vaccine, accusing him of lying. It sparked applause, briefly interrupting his opening remarks.Shouting again interrupted the hearing as committee ranking member Sen. Ron Wyden, D-Ore., questioned Kennedy about his comments about vaccines. Committee Chair Sen. Mike Crapo, R-Idaho, threatened to recess the hearing if any more protesters disrupted it.Beyond vaccines, Kennedy also previewed how he plans to pursue his broad ""Make America Healthy Again"" platform if confirmed as the nation's top health official. The platform argues that a corrupt alliance of drug and food companies and the federal health agencies that regulate them are making Americans less healthy. Kennedy has long contended that the agencies that HHS oversees need reform or a sweeping overhaul.Kennedy's supporters say some of his stances around food, such as highlighting the risks of food additives and ultra-processed products, have hit on broad appeal among Republicans and some Democrats. But Kennedy on Wednesday said he is not ""the enemy of food producers,"" noting that American farms are ""the bedrock of our culture and national security.""Caroline Kennedy, the nominee's cousin and daughter of former President John F. Kennedy, wrote a letter to senators Tuesday that referred to her cousin as a ""predator"" and urged them not to confirm him.Here are some of the key takeaways from Wednesday's hearing:Kennedy, in his opening remarks before the panel, pushed back on claims that he is anti-vaccine or anti-industry.""I am neither; I am pro-safety,"" Kennedy said. ""I worked for years to raise awareness about the mercury and toxic chemicals in fish, but that didn't make me anti-fish. All of my kids are vaccinated, and I believe vaccines have a critical role in health care.""Kennedy engaged in heated debate with senators over his vaccine views, saying, ""I support the measles vaccine, I support the polio vaccine, I will do nothing as HHS secretary that makes it difficult or discourages people taking"" them.Sen. Ron Wyden, D-Ore., didn't buy that claim, highlighting Kennedy's previous remarks in a book about not viewing measles as a threat. Senators also pointed to Kennedy's misinformation about the safety of the measles, mumps and rubella vaccine that was linked to a severe measles outbreak in Samoa in 2019 that left dozens of children dead. That outbreak came just months after Kennedy visited the island nation. Kennedy denied having anything to do with the deadly outbreak. ""You cannot find a single Samoan that says, 'I didn't get vaccinated because of Bobby Kennedy,'"" he said.When Wyden asked if measles is deadly, Kennedy did not directly answer the question. Kennedy contended again that he was not anti-vaccine.Wyden also pressed Kennedy on his comments in a 2023 podcast in which he said, ""There's no vaccine that is safe and effective."" Kennedy said he has previously clarified those statements and that he would not dissuade Americans from getting certain vaccines.Democrats pressed Kennedy on whether he had reversed his stance on abortion for political expediency and if he would do the same on other issues. ""When was it that you decided to sell out the values you've had your whole life in order to be given power by President Trump?"" Democratic Sen. Maggie Hassan of New Hampshire said, pointing to his previous public support for abortion rights. Kennedy, in response, said ""every abortion is a tragedy"" — a line he repeated at least four times throughout the hearing. When asked about his approach to regulations around the abortion pill mifepristone, Kennedy said Trump ""wants me to look at safety issues."" He added that the president had not yet taken a position on how to regulate it.""Whatever he does, I will implement those policies, and I will work with this committee to make those policies make sense,"" Kennedy said. That's a similar response he had when asked about other abortion policies. There is extensive scientific evidence showing that the pills, which are regulated and approved for use by the FDA, are safe. Kennedy appeared to struggle when Sen. Bill Cassidy, R-La., pressed him on what reforms he would propose for the state-federal Medicaid program, which provides coverage to around 80 million Americans, including many low-income people. Republicans could target Medicaid, which costs the federal government more than $600 billion a year, for funding reductions this year to help pay for tax cuts. At times, Kennedy appeared to confuse Medicaid with Medicare, a federal program that provides coverage to older and disabled Americans. Kennedy described Medicaid as ""fully paid for"" by the federal government. But the program is funded by states as well. He also claimed that many Medicaid enrollees were frustrated by high costs, saying ""premiums are too high. The deductibles are too high."" But the majority of Medicaid enrollees do not pay any premiums or deductibles for their coverage. Federal law bars premiums for the lowest-income Medicaid enrollees. Kennedy only vaguely described efforts to reform Medicaid, saying he supported increasing ""transparency"" and ""accountability.""",CNBC,29/01/2025,"[""Robert F. Kennedy Jr., President Donald Trump's controversial pick to lead the Department of Health and Human Services, testified Wednesday before a crucial Senate panel, where he faced questions about vaccine skepticism, his evolving views on abortion and grasp of sprawling federal health programs."", 'Kennedy, 71, appeared first before the Senate Committee on Finance, which will vote on whether his nomination as HHS secretary advances to the full chamber.', 'In the Republican-controlled Senate, Kennedy can lose only three GOP votes if all Democrats oppose him.', 'He will also appear before the Senate Committee on Health, Education, Labor and Pensions for a courtesy hearing Thursday.', 'He sidestepped many of the questions as senators grilled him Wednesday.', 'He also struggled to answer some questions aboutMedicare and Medicaid, and often said he would defer to Trump on policies in such areas as reproductive rights and prescription drug price negotiations.', 'If confirmed, Kennedy will take the reins of a $1.7 trillion agency that oversees vaccines and other medicines, scientific research, public health infrastructure, pandemic preparedness, food and tobacco products, and government-funded health care for millions of Americans.', 'The heads of the Food and Drug Administration, Centers for Disease Control and Prevention, National Institutes of Health, and Centers for Medicare & Medicaid Services, among other federal health agencies, all report to the HHS secretary.', 'Kennedy has faced criticism from both sides of the aisle.', 'He is a prominent vaccine skeptic, making false claims that they are linked to autism despite decades of studies that debunk that association.', ""Kennedy is also the founder of the nonprofit Children's Health Defense, the most well-funded anti-vaccine organization in the U.S.In a government ethics agreement last week, he said he stopped serving as chairman or chief legal counsel for the organization as of December."", 'Some critics have argued that his work advocating against vaccine use has cost lives and could deter more Americans from getting recommended shots at a time when vaccination rates are declining.', 'A protester in the hearing room shouted when Kennedy denied he was anti-vaccine, accusing him of lying.', 'It sparked applause, briefly interrupting his opening remarks.', 'Shouting again interrupted the hearing as committee ranking member Sen. Ron Wyden, D-Ore., questioned Kennedy about his comments about vaccines.', 'Committee Chair Sen. Mike Crapo, R-Idaho, threatened to recess the hearing if any more protesters disrupted it.', 'Beyond vaccines, Kennedy also previewed how he plans to pursue his broad ""Make America Healthy Again"" platform if confirmed as the nation\'s top health official.', 'The platform argues that a corrupt alliance of drug and food companies and the federal health agencies that regulate them are making Americans less healthy.', 'Kennedy has long contended that the agencies that HHS oversees need reform or a sweeping overhaul.', ""Kennedy's supporters say some of his stances around food, such as highlighting the risks of food additives and ultra-processed products, have hit on broad appeal among Republicans and some Democrats."", 'But Kennedy on Wednesday said he is not ""the enemy of food producers,"" noting that American farms are ""the bedrock of our culture and national security.', '""Caroline Kennedy, the nominee\'s cousin and daughter of former President John F. Kennedy, wrote a letter to senators Tuesday that referred to her cousin as a ""predator"" and urged them not to confirm him.', ""Here are some of the key takeaways from Wednesday's hearing:Kennedy, in his opening remarks before the panel, pushed back on claims that he is anti-vaccine or anti-industry."", '""I am neither; I am pro-safety,"" Kennedy said. ""', ""I worked for years to raise awareness about the mercury and toxic chemicals in fish, but that didn't make me anti-fish."", 'All of my kids are vaccinated, and I believe vaccines have a critical role in health care.', '""Kennedy engaged in heated debate with senators over his vaccine views, saying, ""I support the measles vaccine, I support the polio vaccine, I will do nothing as HHS secretary that makes it difficult or discourages people taking"" them.', ""Sen. Ron Wyden, D-Ore., didn't buy that claim, highlighting Kennedy's previous remarks in a book about not viewing measles as a threat."", ""Senators also pointed to Kennedy's misinformation about the safety of the measles, mumps and rubella vaccine that was linked to a severe measles outbreak in Samoa in 2019 that left dozens of children dead."", 'That outbreak came just months after Kennedy visited the island nation.', 'Kennedy denied having anything to do with the deadly outbreak.', '""You cannot find a single Samoan that says, \'I didn\'t get vaccinated because of Bobby Kennedy,\'"" he said.', 'When Wyden asked if measles is deadly, Kennedy did not directly answer the question.', 'Kennedy contended again that he was not anti-vaccine.', 'Wyden also pressed Kennedy on his comments in a 2023 podcast in which he said, ""There\'s no vaccine that is safe and effective.""', 'Kennedy said he has previously clarified those statements and that he would not dissuade Americans from getting certain vaccines.', 'Democrats pressed Kennedy on whether he had reversed his stance on abortion for political expediency and if he would do the same on other issues.', '""When was it that you decided to sell out the values you\'ve had your whole life in order to be given power by President Trump?""', 'Democratic Sen. Maggie Hassan of New Hampshire said, pointing to his previous public support for abortion rights.', 'Kennedy, in response, said ""every abortion is a tragedy"" — a line he repeated at least four times throughout the hearing.', 'When asked about his approach to regulations around the abortion pill mifepristone, Kennedy said Trump ""wants me to look at safety issues.""', 'He added that the president had not yet taken a position on how to regulate it.', '""Whatever he does, I will implement those policies, and I will work with this committee to make those policies make sense,"" Kennedy said.', ""That's a similar response he had when asked about other abortion policies."", 'There is extensive scientific evidence showing that the pills, which are regulated and approved for use by the FDA, are safe.', 'Kennedy appeared to struggle when Sen. Bill Cassidy, R-La., pressed him on what reforms he would propose for the state-federal Medicaid program, which provides coverage to around 80 million Americans, including many low-income people.', 'Republicans could target Medicaid, which costs the federal government more than $600 billion a year, for funding reductions this year to help pay for tax cuts.', 'At times, Kennedy appeared to confuse Medicaid with Medicare, a federal program that provides coverage to older and disabled Americans.', 'Kennedy described Medicaid as ""fully paid for"" by the federal government.', 'But the program is funded by states as well.', 'He also claimed that many Medicaid enrollees were frustrated by high costs, saying ""premiums are too high.', 'The deductibles are too high.', '""But the majority of Medicaid enrollees do not pay any premiums or deductibles for their coverage.', 'Federal law bars premiums for the lowest-income Medicaid enrollees.', 'Kennedy only vaguely described efforts to reform Medicaid, saying he supported increasing ""transparency"" and ""accountability.""']",-0.0208641574024245,"But Kennedy on Wednesday said he is not ""the enemy of food producers,"" noting that American farms are ""the bedrock of our culture and national security.","A protester in the hearing room shouted when Kennedy denied he was anti-vaccine, accusing him of lying.",-0.7147447629408403,"Kennedy's supporters say some of his stances around food, such as highlighting the risks of food additives and ultra-processed products, have hit on broad appeal among Republicans and some Democrats.",Some critics have argued that his work advocating against vaccine use has cost lives and could deter more Americans from getting recommended shots at a time when vaccination rates are declining.,2025-02-03
+American Airlines collision with Army helicopter is worst U.S. air disaster since 2001,https://www.cnbc.com/2025/01/30/american-airlines-helicopter-collision-worst-air-disaster-in-years.html,2025-01-30T22:04:39+0000,"In this articleThe midair collision of a military helicopter and an American Airlines regional jetliner near Washington, D.C.'s Reagan National Airport on Wednesday night brings to an end a streak of commercial air travel safety that was unknown to previous generations.It is the deadliest air disaster on U.S. soil in more than 20 years.Officials said Thursday morning that they were shifting from a recovery effort to a rescue effort and that there were no survivors. Washington's Fire and EMS Chief John Donnelly said 27 bodies have been recovered so far.American Eagle Flight 5342 from Wichita, Kansas, was approaching Ronald Reagan Washington National Airport at an altitude of about 300 feet when a U.S. Army Black Hawk helicopter carrying three people collided with the commercial jetliner.Sixty-four people — 60 passengers and four crew members — were on board the American flight. The flight was operated by American subsidiary carrier PSA Airlines. The plane was a Bombardier CRJ700, a regional jet used for shorter routes.Rescuers had raced to recover passengers from the frigid waters of the Potomac River on Wednesday night, but local officials said conditions were challenging due to high winds.The U.S. has gone years without a fatal commercial airline crash. The last deadly U.S. commercial passenger airline crash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.The crash of that turboprop aircraft prompted federal regulations requiring more rest and training for pilots.The deadliest incident in recent memory was American Airlines Flight 587, an Airbus A300 that crashed in November 2001 shortly after it took off from New York's John F. Kennedy International Airport headed for the Dominican Republic. All 260 people on the flight were killed and five others died on the ground in Queens.Airplane crashes have become extremely rare, which safety experts often chalk up to overlapping and redundant safety measures.""It's extremely safe. Even with this accident I'll say it's extremely safe,"" said Jeff Guzzetti, a retired air safety investigator with the U.S. National Transportation Safety Board and the Federal Aviation Administration. The NTSB will lead an investigation into Wednesday's accident. It will include the FAA, American Airlines, crew members' labor unions and other parties.The NTSB will issue a preliminary report, but a final report that determines the cause or causes of an airplane crash can take months, if not more than a year.Investigators will examine air traffic control recordings, training records, and cockpit voice and data recorders if the black boxes are recovered, along with a host of other factors.The accident presents a challenge to President Donald Trump days into his new term. He has not yet named a candidate to become a permanent head of the Federal Aviation Administration after Biden-appointed Mike Whitaker stepped down Jan. 20, when Trump's term began.The FAA in 2023 laid out a plan designed to improve safety further and eliminate all ""close calls"" at airports.",CNBC,30/01/2025,"[""In this articleThe midair collision of a military helicopter and an American Airlines regional jetliner near Washington, D.C.'s Reagan National Airport on Wednesday night brings to an end a streak of commercial air travel safety that was unknown to previous generations."", 'It is the deadliest air disaster on U.S. soil in more than 20 years.', 'Officials said Thursday morning that they were shifting from a recovery effort to a rescue effort and that there were no survivors.', ""Washington's Fire and EMS Chief John Donnelly said 27 bodies have been recovered so far."", 'American Eagle Flight 5342from Wichita, Kansas, was approaching Ronald Reagan Washington National Airport at an altitude of about 300 feet when a U.S. Army Black Hawk helicopter carrying three people collided with the commercial jetliner.', 'Sixty-four people — 60 passengers and four crew members — were on board the American flight.', 'The flight was operated by American subsidiary carrier PSA Airlines.', 'The plane was a Bombardier CRJ700, a regional jet used for shorter routes.', 'Rescuers had raced to recover passengers from the frigid waters of the Potomac River on Wednesday night, but local officials said conditions were challenging due to high winds.', 'The U.S. has gone years without a fatal commercial airline crash.', 'The last deadly U.S. commercial passengerairlinecrash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.', 'The crash of that turboprop aircraft prompted federal regulations requiring more rest and training for pilots.', ""The deadliest incident in recent memory was American Airlines Flight 587, an Airbus A300 that crashed in November 2001 shortly after it took off from New York's John F. Kennedy International Airport headed for the Dominican Republic."", 'All 260 people on the flight were killed and five others died on the ground in Queens.', 'Airplane crashes have become extremely rare, which safety experts often chalk up to overlapping and redundant safety measures.', '""It\'s extremely safe.', 'Even with this accident I\'ll say it\'s extremely safe,"" said JeffGuzzetti, a retired air safety investigator with the U.S. National Transportation Safety Board and the Federal Aviation Administration.', ""The NTSB will lead an investigation into Wednesday's accident."", ""It will include the FAA, American Airlines, crew members' labor unions and other parties."", 'The NTSB will issue a preliminary report, but a final report that determines the cause or causes of an airplane crash can take months, if not more than a year.', 'Investigators will examine air traffic control recordings, training records, and cockpit voice and data recorders if the black boxes arerecovered, along with a host of other factors.', 'The accident presents a challenge to President Donald Trump days into his new term.', ""He has not yet named a candidate to become a permanent head of the Federal Aviation Administration after Biden-appointed Mike Whitaker stepped down Jan. 20, when Trump's term began."", 'The FAA in 2023 laid out a plan designed to improve safety further and eliminate all ""close calls"" at airports.']",-0.0306561848776776,"The FAA in 2023 laid out a plan designed to improve safety further and eliminate all ""close calls"" at airports.",All 260 people on the flight were killed and five others died on the ground in Queens.,-0.1227345551763262,"Even with this accident I'll say it's extremely safe,"" said JeffGuzzetti, a retired air safety investigator with the U.S. National Transportation Safety Board and the Federal Aviation Administration.","In this articleThe midair collision of a military helicopter and an American Airlines regional jetliner near Washington, D.C.'s Reagan National Airport on Wednesday night brings to an end a streak of commercial air travel safety that was unknown to previous generations.",2025-02-03
+67 dead after American Airlines plane collides with Army helicopter,https://www.cnbc.com/2025/01/30/aircraft-down-in-potomic-river-near-dca-airport.html,2025-01-31T15:49:41+0000,"In this articleThere were no survivors after an American Airlines regional jet with 64 people aboard collided with a Black Hawk military helicopter moments before the airplane was set to land at Washington, D.C.'s Ronald Reagan Washington National Airport on Wednesday night, officials said. The accident was the worst air disaster in the U.S. since 2001.Hundreds of first responders have switched to a recovery operation from rescue efforts, District of Columbia Fire and Emergency Medical Services Chief John Donnelly said in a press conference Thursday morning. Donnelly said at least 28 bodies have been recovered so far: 27 from the jet and one from the helicopter.Both aircraft plunged into the icy waters of the Potomac River. First responders including divers worked overnight to try to recover victims, battling choppy, cold waters.Sixty passengers and four crew members were on board the American flight. Three people were on board the military helicopter, an official said.American Eagle Flight 5342, a PSA Airlines Bombardier CRJ700 regional jetliner, was on approach into the airport's Runway 33 when it collided with a Sikorsky H-60 helicopter at around 9 p.m. ET, the FAA said. The flight was arriving from Wichita, Kansas, and flying at an altitude of about 300 feet at the time of the collision, according to FlightRadar24.PSA Airlines is an American Airlines subsidiary and one of its regional carriers. American Eagle is how the airline brands its regional flights.Transportation Secretary Sean Duffy, two days into the job, said the American Airlines jetliner was broken into three sections in the Potomac.The accident hands President Donald Trump a crisis less than two weeks into his new term, as it ends the country's nearly 16-year stretch without a deadly commercial passenger crash.Trump claimed at a White House news conference Thursday that policies promoting diversity, equity and inclusion ""could have been"" to blame for the collision, the deadliest U.S. plane crash since November 2001. He did not provide evidence.Pressed on whether he was getting ahead of the investigation and on how he could connect the collision to DEI, Trump said, ""Because I have common sense, OK?""The National Transportation Safety Board is leading the investigation into Wednesday's accident. The probe will also include the Federal Aviation Administration, American Airlines and other parties.American Airlines CEO Robert Isom said in a memo to staff that the NTSB would be the ""sole source of truth going forward, and accuracy is of the utmost importance.""At a briefing Thursday afternoon, NTSB Chair Jennifer Homendy said the agency would leave no stone unturned in its investigation.Investigators will look at everything from staffing levels at the airport's air traffic control facility to pilot training, maintenance, communications between air traffic controllers and the aircraft involved in the crash, she said.The NTSB said late Thursday that the flight data and cockpit voice recorder from the CRJ-700 have been recovered. The boxes were taken to NTSB labs for evaluation, the agency said.Staffing at Reagan National Airport on Wednesday night wasn't at normal levels for the time of day and the amount of traffic, according to a source familiar with a FAA preliminary incident report. The FAA didn't immediately comment.The person said the tower at the airport normally has one controller who focuses on helicopter traffic, though FAA allows for that position to be combined so one person could watch airplanes and helicopters. That was the case Wednesday night, the source said.""Everyone who flies in American skies expects that we fly safely, that when you depart an airport, you get to your destination,"" Duffy said in a press conference Thursday. ""That didn't happen last night, and I know that President Trump, his administration, the FAA, the DOT, you will not rest until we have answers for the family and for the flying public.""Duffy said he thought the accident was preventable.The FAA does not have a permanent head, which would require Senate confirmation. Former Administrator Mike Whitaker stepped down on Jan. 20, when Trump took office.On Thursday, Trump appointed Chris Rocheleau, a former senior FAA official, as acting head of the FAA.American CEO Isom traveled to Washington, D.C., overnight.""I want to express my sincere condolences for the accident that happened last night. We're absolutely heartbroken for the family members,"" Isom said in a press conference. ""Our focus right now is to support all of those involved and also the PSA airlines team.""He said the American flight was at final approach and ""at this time, we don't know why the military aircraft came into the path of the PSA aircraft.""Isom said the captain of the American Eagle flight had about six years with PSA and the first officer had about two years. The plane was on a ""standard"" approach, he added. ""That's about all I can say.""NBC News reported that one of the soldiers on the helicopter was an instructor pilot lending experience to the crew, which was on an annual training mission.The airline provided contact information for people who ""believe you may have loved ones on board Flight 5342.""American and Russian figure skaters were on board the flight, according to the countries' official groups.Reagan Washington National was closed Wednesday night and reopened late Thursday morning. Officials said airlines would communicate any schedule changes to passengers.The airport says its main runway is the busiest in the country.The U.S. has had a long stretch without fatal commercial passenger airline crashes. The last U.S. commercial passenger airline crash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.The crash of that turboprop plane prompted federal regulations requiring more rest and training for pilots.""We are shocked and saddened by the tragic accident at DCA tonight,"" said the Air Line Pilots Association, a pilot union. ""Our thoughts are with those affected by this tragedy and ALPA's accident investigation team is responding to assist the National Transportation Safety Board in their investigation.""— CNBC's Kevin Breuninger and Phil LeBeau contributed to this report.This story is developing. Please check back for updates.Correction: An American Airlines plane collided with an Army helicopter. This fact had a typographical error in the headline of a previous version.",CNBC,31/01/2025,"[""In this articleThere were no survivors after an American Airlines regional jet with 64 people aboard collided with a Black Hawk military helicopter moments before the airplane was set to land at Washington, D.C.'s Ronald Reagan Washington National Airport on Wednesday night, officials said."", 'The accident was the worst air disaster in the U.S. since 2001.Hundreds of first responders have switched to a recovery operation from rescue efforts, District of Columbia Fire and Emergency Medical Services Chief John Donnelly said in a press conference Thursdaymorning.', 'Donnelly said at least 28 bodies have been recovered so far:27 from the jet and one from the helicopter.', 'Both aircraft plunged into the icy waters of the Potomac River.', 'First responders including divers worked overnight to try to recover victims, battling choppy, cold waters.', 'Sixty passengers and four crew members were on board the American flight.', 'Three people were on board the military helicopter, an official said.', ""American Eagle Flight 5342, a PSA Airlines Bombardier CRJ700 regional jetliner, was on approach into the airport's Runway 33 when it collided with a Sikorsky H-60 helicopter at around 9 p.m. ET, the FAA said."", 'The flight was arriving from Wichita, Kansas, and flying at an altitude of about 300 feet at the time of the collision, according to FlightRadar24.PSAAirlinesis an American Airlines subsidiary and one of its regional carriers.', 'American Eagle is how theairlinebrands its regional flights.', 'Transportation Secretary Sean Duffy, two days into the job, said the American Airlines jetliner was broken into three sections in the Potomac.', ""The accident hands President Donald Trump a crisis less than two weeks into his new term, as it ends the country's nearly 16-year stretch without a deadly commercial passenger crash."", 'Trump claimed at a White House news conference Thursday that policies promoting diversity, equity and inclusion ""could have been"" to blame for the collision, thedeadliest U.S. plane crashsince November 2001.', 'He did not provide evidence.', 'Pressed on whether he was getting ahead of the investigation and on how he could connect the collision to DEI, Trump said, ""Because I have common sense, OK?""The National Transportation Safety Board is leading the investigation into Wednesday\'s accident.', 'The probe will also include the Federal Aviation Administration, American Airlines and other parties.', 'American Airlines CEO Robert Isom said in a memo to staff that the NTSB would be the ""sole source of truth going forward, and accuracy is of the utmost importance.', '""At a briefing Thursday afternoon, NTSB Chair Jennifer Homendy said the agency would leave no stone unturned in its investigation.', ""Investigators will look at everything from staffing levels at the airport's air traffic control facility to pilot training, maintenance, communications between air traffic controllers and the aircraft involved in the crash, she said."", 'The NTSB saidlate Thursday thatthe flight data andcockpit voice recorderfrom the CRJ-700 have been recovered.', 'The boxes were taken to NTSB labs for evaluation, the agency said.', ""Staffing at Reagan National Airport on Wednesday night wasn't at normal levels for the time of day and the amount of traffic, according to a source familiar with a FAA preliminary incident report."", ""The FAA didn't immediately comment."", 'The person said the tower at the airport normally has one controller who focuses on helicopter traffic, though FAA allows for that position to be combined so one person could watch airplanes and helicopters.', 'That was the case Wednesday night, the source said.', '""Everyone who flies in American skies expects that we fly safely, that when you depart an airport, you get to your destination,"" Duffy said in a press conference Thursday. ""', ""That didn't happen last night, and I know that President Trump, his administration, the FAA, the DOT, you will not rest until we have answers for the family and for the flying public."", '""Duffy said he thought the accident was preventable.', 'The FAA does not have a permanent head, which would require Senate confirmation.', 'Former Administrator Mike Whitaker stepped down on Jan. 20, when Trump took office.', 'On Thursday, Trump appointed ChrisRocheleau, a former senior FAA official, as acting head of the FAA.American CEO Isom traveled to Washington, D.C., overnight.', '""I want to express my sincere condolences for the accident that happened last night.', 'We\'re absolutely heartbroken for the family members,"" Isom said in a press conference. ""', 'Our focus right now is to support all of those involved and also the PSAairlinesteam.', '""He said the American flight was at final approach and ""at this time, we don\'t know why the military aircraft came into the path of the PSA aircraft.', '""Isom said the captain of the American Eagle flight had about six years with PSA and the first officer had about two years.', 'The plane was on a ""standard"" approach, he added. ""', ""That's about all I can say."", '""NBC News reported that one of the soldiers on the helicopter was an instructor pilot lending experience to the crew, which was on an annual training mission.', 'The airline provided contact information for people who ""believe you may have loved ones on board Flight 5342.""American and Russian figure skaterswere on board the flight, according to the countries\' official groups.', 'Reagan Washington National was closed Wednesday night and reopened late Thursday morning.', 'Officials said airlines would communicate any schedule changes to passengers.', 'The airport says its main runway is the busiest in the country.', 'The U.S. has had a long stretch without fatal commercial passenger airline crashes.', 'The last U.S. commercial passengerairlinecrash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.', 'The crash of that turboprop plane prompted federal regulations requiring more rest and training for pilots.', '""We are shocked and saddened by the tragic accident at DCA tonight,"" said the Air Line Pilots Association, a pilot union. ""', 'Our thoughts are with those affected by this tragedy and ALPA\'s accident investigation team is responding to assist the National Transportation Safety Board in their investigation.""—', ""CNBC's Kevin Breuninger and Phil LeBeau contributed to this report."", 'This story is developing.', 'Please check back for updates.', 'Correction: An American Airlines plane collided with an Army helicopter.', 'This fact had a typographical error in the headline of a previous version.']",-0.1126995504155695,"The airline provided contact information for people who ""believe you may have loved ones on board Flight 5342.""American and Russian figure skaterswere on board the flight, according to the countries' official groups.","The accident was the worst air disaster in the U.S. since 2001.Hundreds of first responders have switched to a recovery operation from rescue efforts, District of Columbia Fire and Emergency Medical Services Chief John Donnelly said in a press conference Thursdaymorning.",-0.7085793018341064,,"""We are shocked and saddened by the tragic accident at DCA tonight,"" said the Air Line Pilots Association, a pilot union. """,2025-02-03
+Shein ramps up charm offensive as London IPO nears,https://www.cnbc.com/2025/01/31/shein-releases-product-safety-data-ahead-of-london-ipo.html,2025-01-31T18:02:39+0000,"Shein is ramping up its charm offensive again as the fast-fashion giant eyes a public listing in London as soon as this year. The retailer issued a press release on Friday detailing the steps it's taking to keep the items it sells safe. The announcement came about a week after its first product safety recall in the U.S. since 2021. Shein said it conducted more than 2 million product safety tests last year using industry-leading labs such as Bureau Veritas and Intertek, adding that its vendors are required to submit documentation for items like toys, baby products, medical devices and electronics. Shein made the announcement, which included details on its sustainability initiatives and a new nonprofit foundation it set up, as the company looks to win over lawmakers in the U.K. and ease concerns that it's selling unsafe products that are made with forced labor. Last week, Shein recalled more than 300 hair dryer brushes because they posed an electrocution or shock hazard to consumers. The Teckwe Hair Dryer Brush appeared to be a so-called dupe of a similar product sold by Dyson. No injuries were reported and Shein is offering a refund to impacted customers. A spokesperson for Shein told CNBC the company conducted safety tests on products it sells itself and did ""risk-based, randomized testing"" on items sold by third-party vendors on its marketplace before their listing.Product safety testing is common for items that a retailer sells, even if they're online only, because they could be held liable for defects under consumer protection laws in the U.S. On the other hand, a retailer's liability is less clear for third-party sellers on an online marketplace, which makes product testing prior to an item's listing unusual.Shein's decision to conduct product safety tests on items sold by third-party sellers makes it stand out in an industry that has been rife with safety concerns. Typically, online marketplaces just require sellers to conduct their own testing and provide documentation to support it.Shein added in its press release that it terminated more than 260 sellers on its marketplace over the last year for not meeting compliance requirements. Shein's campaign to show it takes product safety and sustainability seriously comes as it prepares to go public in the U.K. — and follows a similar charm offensive in the U.S. before its doomed initial public offering bid there.Earlier this month, U.K. lawmakers criticized attorneys for Shein when they appeared before a British parliamentary hearing and evaded questions about the company's supply chain and whether it sells products made with cotton from China, The Associated Press reported. Shein's general counsel in Europe, Yinan Zhu, repeatedly declined to say whether the company's products contain cotton from Xinjiang and whether the company prohibits suppliers from sourcing raw materials in the region, which has become notorious for its Uyghur detention camps. When asked whether the company believes there is forced labor in Xinjiang, Zhu said it wasn't the company's place to have a ""geopolitical debate"" and repeated a line Shein often uses when grilled on its supply chain, ""We comply with the laws and regulations in the countries that we operate in.""Committee Chairman Liam Byrne said Zhu's refusal to answer questions left lawmakers ""horrified"" and gave them ""zero confidence"" in the integrity of Shein's supply chain.  ""The reluctance to answer basic questions has frankly bordered on contempt,"" Byrne said.Throughout 2023, when Shein was still hoping for a U.S. IPO, it commonly spoke publicly about its cotton supply chain and the tests it had conducted to ensure it wasn't sourcing from banned regions. It even told CNBC it had stopped sourcing cotton from China altogether. Shein did not make similar statements in the parliamentary hearing.",CNBC,31/01/2025,"['Shein is ramping up its charm offensive again as the fast-fashion giant eyes a public listing in London as soon as this year.', ""The retailer issued a press release on Friday detailing the steps it's taking to keep the items it sells safe."", 'The announcement came about a week after its first product safety recall in the U.S. since 2021.Shein said it conducted more than 2 million product safety tests last year using industry-leading labs such as Bureau Veritas and Intertek, adding that its vendors are required to submit documentation for items like toys, baby products, medical devices and electronics.', ""Shein made the announcement, which included details on its sustainability initiatives and a new nonprofit foundation it set up, as the company looks to win over lawmakers in the U.K. and ease concerns that it's selling unsafe products that are made with forced labor."", 'Last week, Shein recalled more than 300 hair dryer brushes because they posed an electrocution or shock hazard to consumers.', 'The Teckwe Hair Dryer Brush appeared to be a so-called dupe of a similar product sold by Dyson.', 'No injuries were reported and Shein is offering a refund to impacted customers.', 'A spokesperson for Shein told CNBC the company conducted safety tests on products it sells itself and did ""risk-based, randomized testing"" on items sold by third-party vendors on its marketplace before their listing.', ""Product safety testing is common for items that a retailer sells, even if they're online only, because they could be held liable for defects under consumer protection laws in the U.S. On the other hand, a retailer's liability is less clear for third-party sellers on an online marketplace, which makes product testing prior to an item's listing unusual."", ""Shein's decision to conduct product safety tests on items sold by third-party sellers makes it stand out in an industry that has been rife with safety concerns."", 'Typically, online marketplaces just require sellers to conduct their own testing and provide documentation to support it.', 'Shein added in its press release that it terminated more than 260 sellers on its marketplace over the last year for not meeting compliance requirements.', ""Shein's campaign to show it takes product safety and sustainability seriously comes as it prepares to go public in the U.K. — and follows a similar charm offensive in the U.S. before its doomed initial public offering bid there."", ""Earlier this month, U.K. lawmakers criticized attorneys for Shein when they appeared before a British parliamentary hearing and evaded questions about the company's supply chain and whether it sells products made with cotton from China, The Associated Press reported."", ""Shein's general counsel in Europe, Yinan Zhu, repeatedly declined to say whether the company's products contain cotton from Xinjiang and whether the company prohibits suppliers from sourcing raw materials in the region, which has become notorious for its Uyghur detention camps."", 'When asked whether the company believes there is forced labor in Xinjiang, Zhu said it wasn\'t the company\'s place to have a ""geopolitical debate"" and repeated a line Shein often uses when grilled on its supply chain, ""We comply with the laws and regulations in the countries that we operate in.', '""Committee Chairman Liam Byrne said Zhu\'s refusal to answer questions left lawmakers ""horrified"" and gave them ""zero confidence"" in the integrity of Shein\'s supply chain.', '""The reluctance to answer basic questions has frankly bordered on contempt,"" Byrne said.', ""Throughout 2023, when Shein was still hoping for a U.S. IPO, it commonly spoke publicly about its cotton supply chain and the tests it had conducted to ensure it wasn't sourcing from banned regions."", 'It even told CNBC it had stopped sourcing cotton from China altogether.', 'Shein did not make similar statements in the parliamentary hearing.']",0.0373540623072744,Shein's decision to conduct product safety tests on items sold by third-party sellers makes it stand out in an industry that has been rife with safety concerns.,"""The reluctance to answer basic questions has frankly bordered on contempt,"" Byrne said.",-0.1423512160778045,"Shein made the announcement, which included details on its sustainability initiatives and a new nonprofit foundation it set up, as the company looks to win over lawmakers in the U.K. and ease concerns that it's selling unsafe products that are made with forced labor.","""Committee Chairman Liam Byrne said Zhu's refusal to answer questions left lawmakers ""horrified"" and gave them ""zero confidence"" in the integrity of Shein's supply chain.",2025-02-03
+Levi beats earnings estimates but expects pressure this year from strong U.S. dollar,https://www.cnbc.com/2025/01/29/levi-strauss-levi-earnings-q4-2024.html,2025-01-29T22:04:22+0000,"In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses. The company said it expects sales to decline between 1% and 2%, well behind estimates of 3.7% growth, according to LSEG. It also anticipates adjusted earnings per share will be between $1.20 and $1.25, below estimates of $1.37, according to LSEG. Shares fell about 6% in extended trading.CEO Michelle Gass told CNBC the expected drop in revenue in the current fiscal year does not reflect slower demand, but is more due to the currency trends, one fewer fiscal week and the divested businesses.Levi ended fiscal 2024 on a high note and reported earnings and sales that both topped expectations. Here is how the apparel company fared during its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Dec. 1 was $182.6 million, or 46 cents per share, compared with $126.8 million, or 32 cents per share, a year earlier. Excluding one-time expenses related to impairments, restructurings, acquisitions and leases, among other items, Levi reported adjusted net income of $202 million, or 50 cents per share, compared with adjusted profits of $179 million, or 44 cents per share, a year earlier. Sales rose to $1.84 billion, up about 12% from $1.64 billion a year earlier. Organic sales, which exclude an extra 53rd week Levi had during the quarter, along with foreign exchange effects and divested businesses, grew 8%. Since Gass took the helm of Levi a year ago, she has moved swiftly to cut aspects of the business that weren't working, grow higher margin sales on its website and stores, boost profitability and bring more female customers to the brand. Under her leadership, Levi inked a high-profile marketing partnership with Beyonce in September after she released a song about the brand on her album ""Cowboy Carter"" earlier in the year. ""Of course, we have to acknowledge the Beyonce effect. We are very pleased with the launch of that campaign, which we're seeing drive demand across the business,"" Gass said in an interview with CNBC.Gass has been working to bring more women to Levi, which traditionally has drawn more men, because women tend to spend more money and shop for new clothes more often. Women's apparel is now about 36% of Levi's overall business, up slightly from a year ago, but Gass said it should represent about half over time.The company has won female shoppers over not only with loose and wide-legged denim fits, but also with a wide range of new tops such as woven shirts and blouses. During the quarter, Levi saw strong sales increases across all of its regions, brands and channels. Sales in the Americas grew 12%, Europe increased 15% and Asia expanded 9%. Sales for its Beyond Yoga brand spiked 10%. Direct-to-consumer sales increased 19% and made up 45% of total organic net sales, which includes the extra selling week, currency fluctuations and the divested businesses. Wholesale revenues, which have been soft across the industry, grew 7% during the quarter. Since President Donald Trump was elected for a second term, all eyes have been on the retail industry to see what kind of effect his proposed tariffs could have on consumer prices and company profits. Levi's finance chief Harmit Singh said the company sources its products from 25 countries and less than 1% of it comes from China, which Trump has threatened with 10% tariffs. In Canada and Mexico, where Trump has suggested duties as high as 25%, Levi's exposure is minimal, as it only imports about 5% of products from Mexico and nothing from Canada. When asked if the company will raise prices if broad-based tariffs are implemented, Singh said it plans to work with its suppliers and look at its own costs so it can spare consumers as much as possible. The ""first objective would be to minimize the impact on the consumer. So we work internally with our suppliers, we look at our cost base, we look at other pricing opportunities and if we cannot cover it, obviously we got to protect the structural economics of the business,"" said Singh. ""At that point, we'll decide, you know, what should be passed on to the consumer or not, but we won't start from that. That's where we will end.""During the quarter, Levi posted what it called a record gross margin of 61.3%, up from 57.8% in the year-ago period, driven by lower product costs, higher full price sales and a better mix between direct and wholesale revenue. Still, Levi reported $111.4 million in impairment charges related to its Beyond Yoga brand for fiscal 2024, on top of the $90.2 million it reported in fiscal 2023, bringing those costs to $201.6 million in the years since it acquired the athleisure company in 2021 for $400 million. The brand and yoga category overall is growing, but Singh said Levi was potentially a bit ""aggressive"" in its expectations ""of how quickly the brand could grow."" The good news, he said, is Beyond Yoga is now led by Nancy Green, the former CEO of Gap's Athleta, who is credited with scaling the athleisure brand into a billion-dollar business. ""It's a category that's growing big time. I know there are other competitors, but we feel good about the management team and good about the potential growth for the business,"" said Singh.",CNBC,29/01/2025,"['In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses.', 'The company said it expects sales to decline between 1% and 2%, well behind estimates of 3.7% growth, according to LSEG.It also anticipates adjusted earnings per share will be between $1.20 and $1.25, below estimates of $1.37, according to LSEG.Shares fell about 6% in extended trading.', 'CEO Michelle Gass told CNBC the expected drop in revenue in the current fiscal year does not reflect slower demand, but is more due to the currency trends, one fewer fiscal week and the divested businesses.', 'Levi ended fiscal 2024 on a high note and reported earnings and sales that both topped expectations.', ""Here is how the apparel company fared during its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Dec. 1 was $182.6 million, or 46 cents per share, compared with $126.8 million, or 32 cents per share, a year earlier."", 'Excluding one-time expenses related to impairments, restructurings, acquisitions and leases, among other items, Levi reported adjusted net income of $202 million, or 50 cents per share, compared with adjusted profits of $179 million, or 44 cents per share, a year earlier.', 'Sales rose to $1.84 billion, up about 12% from $1.64 billion a year earlier.', ""Organic sales, which exclude an extra 53rd week Levi had during the quarter, along with foreign exchange effects and divested businesses, grew 8%.Since Gass took the helm of Levi a year ago, she has moved swiftly to cut aspects of the business that weren't working, grow higher margin sales on its website and stores, boost profitability and bring more female customers to the brand."", 'Under her leadership, Levi inked a high-profile marketing partnership with Beyonce in September after she released a song about the brand on her album ""Cowboy Carter"" earlier in the year.', '""Of course, we have to acknowledge the Beyonce effect.', 'We are very pleased with the launch of that campaign, which we\'re seeing drive demand across the business,"" Gass said in an interview with CNBC.Gass has been working to bring more women to Levi, which traditionally has drawn more men, because women tend to spend more money and shop for new clothes more often.', ""Women's apparel is now about 36% of Levi's overall business, up slightly from a year ago, but Gass said it should represent about half over time."", 'The company has won female shoppers over not only with loose and wide-legged denim fits, but also with a wide range of new tops such as woven shirts and blouses.', 'During the quarter, Levi saw strong sales increases across all of its regions, brands and channels.', 'Sales in the Americas grew 12%, Europe increased 15% and Asia expanded 9%.', 'Sales for its Beyond Yoga brand spiked 10%.', 'Direct-to-consumer sales increased 19% and made up 45% of total organic net sales, which includes the extra selling week, currency fluctuations and the divested businesses.', 'Wholesale revenues, which have been soft across the industry, grew 7% during the quarter.', 'Since President Donald Trump was elected for a second term, all eyes have been on the retail industry to see what kind of effect his proposed tariffs could have on consumer prices and company profits.', ""Levi's finance chief Harmit Singh said the company sources its products from 25 countries and less than 1% of it comes from China, which Trump has threatened with 10% tariffs."", ""In Canada and Mexico, where Trump has suggested duties as high as 25%, Levi's exposure is minimal, as it only imports about 5% of products from Mexico and nothing from Canada."", 'When asked if the company will raise prices if broad-based tariffs are implemented, Singh said it plans to work with its suppliers and look at its own costs so it can spare consumers as much as possible.', 'The ""first objective would be to minimize the impact on the consumer.', 'So we work internally with our suppliers, we look at our cost base, we look at other pricing opportunities and if we cannot cover it, obviously we got to protect the structural economics of the business,"" said Singh. ""', ""At that point, we'll decide, you know, what should be passed on to the consumer or not, but we won't start from that."", ""That's where we will end."", '""During the quarter, Levi posted what it called a record gross margin of 61.3%, up from 57.8% in the year-ago period, driven by lower product costs, higher full price sales and a better mix between direct and wholesale revenue.', 'Still, Levi reported $111.4 million in impairment charges related to its Beyond Yoga brand for fiscal 2024, on top of the $90.2 million it reported in fiscal 2023, bringing those costs to $201.6 million in the years since it acquired the athleisure company in 2021 for $400 million.', 'The brand and yoga category overall is growing, but Singh said Levi was potentially a bit ""aggressive"" in its expectations ""of how quickly the brand could grow.', '""The good news, he said, is Beyond Yoga is now led by Nancy Green, the former CEO of Gap\'s Athleta, who is credited with scaling the athleisure brand into a billion-dollar business.', '""It\'s a category that\'s growing big time.', 'I know there are other competitors, but we feel good about the management team and good about the potential growth for the business,"" said Singh.']",0.1865124968863482,"I know there are other competitors, but we feel good about the management team and good about the potential growth for the business,"" said Singh.","In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses.",0.6506836305965077,"Organic sales, which exclude an extra 53rd week Levi had during the quarter, along with foreign exchange effects and divested businesses, grew 8%.Since Gass took the helm of Levi a year ago, she has moved swiftly to cut aspects of the business that weren't working, grow higher margin sales on its website and stores, boost profitability and bring more female customers to the brand.","In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses.",2025-02-03
+Deadly American Airlines-helicopter collision highlights concerns with crowded U.S. airspace,https://www.cnbc.com/2025/01/30/american-airlines-plane-crash-military-helicopter-airspace.html,2025-01-31T14:22:05+0000,"In this articleAs rescuers continued retrieving bodies out of the frigid Potomac River on Thursday, the deadliest commercial air disaster in the U.S. since 2001 is bringing long-brewing concerns over congested U.S. airspace into a full-blown crisis.Just before 9 p.m. ET on Wednesday, an American Airlines regional jet collided with a military helicopter near Washington, D.C.'s Reagan National Airport. There were no survivors on either the Bombardier CRJ700 regional jet, which carried 60 passengers and four crew members, or on the Army Black Hawk helicopter, which was carrying three people, officials said.A series of close calls at airports in recent years has raised alarms among airlines, regulators and lawmakers. It is not immediately clear what led to the deadly collision on Wednesday. A full investigation could take months, if not longer than a year. Officials on Thursday did not blame air traffic control for the deadly crash.In one of the recent incidents that raised concerns, a JetBlue Airways plane starting its takeoff roll at Reagan National Airport in April came within a few hundred feet of a Southwest Airlines flight, which was told to cross the runway.Despite those close calls, there has not been a major fatal commercial airplane crash on U.S. soil since February 2009. Wednesday's crash was the deadliest since November 2001.""The system is as safe as it has ever been,"" Southwest Airlines CEO Bob Jordan said in an interview with CNBC's ""Squawk on the Street"" on Thursday morning.Airline executives have pushed consecutive administrations to modernize air traffic control and hire more staffers to help alleviate congestion in some of the busiest corridors in the U.S. Ronald Reagan Washington National Airport's main runway is the busiest in the U.S., according to the area's airport authority.""The system has been in need of modernization for literally decades now,"" Jordan said. ""You've got equipment that goes back to the 1960s, and modernizing the equipment actually allows for better management of the airspace, more throughput, so more efficiency.""",CNBC,31/01/2025,"['In this articleAs rescuers continued retrieving bodies out of the frigid Potomac River on Thursday, the deadliest commercial air disaster in the U.S. since 2001 is bringing long-brewing concerns over congested U.S. airspace into a full-blown crisis.', ""Just before 9 p.m. ET on Wednesday, an American Airlines regional jet collided with a military helicopter near Washington, D.C.'s Reagan National Airport."", 'There were no survivors on either the Bombardier CRJ700 regional jet, which carried 60 passengers and four crew members, or on the Army Black Hawk helicopter, which was carrying three people, officials said.', 'A series of close calls at airports in recent years has raised alarms among airlines, regulators and lawmakers.', 'It is not immediately clear what led to the deadly collision on Wednesday.', 'A full investigation could take months, if not longer than a year.', 'Officials on Thursday did not blame air traffic control for the deadly crash.', 'In one of the recent incidents that raised concerns, a JetBlue Airways plane starting its takeoff roll at Reagan National Airport in April came within a few hundred feet of a Southwest Airlines flight, which was told to cross the runway.', 'Despite those close calls, there has not been a major fatal commercial airplane crash on U.S. soil since February 2009.', 'Wednesday\'s crash was the deadliest since November 2001.""The system is as safe as it has ever been,"" Southwest Airlines CEO Bob Jordan said in an interview with CNBC\'s ""Squawk on the Street"" on Thursday morning.', ""Airline executives have pushed consecutive administrations to modernize air traffic control and hire more staffers to help alleviate congestion in some of the busiest corridors in the U.S. Ronald Reagan Washington National Airport's main runway is the busiest in the U.S., according to the area's airport authority."", '""The system has been in need of modernization for literally decades now,"" Jordan said. ""', 'You\'ve got equipment that goes back to the 1960s, and modernizing the equipment actually allows for better management of the airspace, more throughput, so more efficiency.""']",-0.1262463838850265,"You've got equipment that goes back to the 1960s, and modernizing the equipment actually allows for better management of the airspace, more throughput, so more efficiency.""","In this articleAs rescuers continued retrieving bodies out of the frigid Potomac River on Thursday, the deadliest commercial air disaster in the U.S. since 2001 is bringing long-brewing concerns over congested U.S. airspace into a full-blown crisis.",0.0391943554083506,"Airline executives have pushed consecutive administrations to modernize air traffic control and hire more staffers to help alleviate congestion in some of the busiest corridors in the U.S. Ronald Reagan Washington National Airport's main runway is the busiest in the U.S., according to the area's airport authority.","A series of close calls at airports in recent years has raised alarms among airlines, regulators and lawmakers.",2025-02-03
+Comcast shifts strategy to mobile as fourth-quarter broadband numbers disappoint,https://www.cnbc.com/2025/01/30/comcast-shifts-strategy-to-mobile-as-broadband-disappoints.html,2025-01-30T21:14:56+0000,"In this articleCable giant Comcast is looking to the wireless business for growth.Comcast executives said Thursday the company will shift its focus to its mobile business after reporting a loss of 139,000 residential broadband customers during the fourth quarter.Broadband has long been the growth engine of the cable industry, especially after the exodus of cable TV customers. Although broadband segment revenue remains stable, Comcast, like its cable peers, has been in the midst of a slowdown in customer growth, which has concerned investors in recent years.Shares of Comcast fell 11% Thursday.Company executives said during Thursday's earnings call with investors that the company will shift its strategy to package mobile with broadband in a bid for more customers.The stagnation stems from a number of factors, primarily the rise of wireless providers such as Verizon and T-Mobile offering home broadband options.""In short, competitive conditions remain intense, dynamic and varied across our footprint and customer segments,"" Comcast President Mike Cavanagh said on Thursday's investor call. ""And we see no signs of this changing in the near term.""In 2022, Comcast and fellow cable giant Charter Communications each reported their first quarterly decline in broadband subscriber growth.Executives have cited reasons such as the slowdown in buying and selling of homes — noting there are fewer people signing up for cable when they get a new home — as well as a drop-off in additions following robust growth at the height of the Covid pandemic, when lockdowns sent Americans home to work and learn.But the rise of fixed wireless offerings from Verizon and T-Mobile has significantly ramped up competition. In December, Comcast Cable CEO Dave Watson called out the dynamic and warned of a fourth-quarter loss of 100,000 customers. Thursday's announcement amounted to deeper-than-projected subscriber losses.The so-called overbuilding of fiber internet has contributed to the competition, as has fixed wireless, a 5G high-speed broadband offering that is an alternative to cable broadband. Comcast in the past has dismissed fixed wireless as ""an inferior product.""On Thursday CFO Jason Armstrong said the expectation is that fixed wireless, and likely satellite companies, will be ""carving out a permanent part of the market."" He also noted cable's increasing broadband speeds as an advantage.In response, Comcast is looking to mobile to both grow and maintain its customer base.""While we are the incumbent in the $80 billion U.S. residential broadband market, we are the challenger in the far larger $200 billion U.S. wireless market,"" said Armstrong. ""Wireless is an integral part of our broadband strategy.""Comcast now counts more than 7.8 million mobile lines, or 12% penetration of its residential broadband customer base, giving it a ""long runway ahead.""Comcast launched Xfinity Mobile in 2017, while Charter started offering mobile in 2018. The two biggest cable companies in the U.S. have touted consistent quarterly gains of mobile lines since then. Smaller operators such as Altice USA and Cox have also added the offering.Comcast and its cable peers' mobile offerings rely on the wireless network of Verizon, as well as customers' home broadband networks and Wi-Fi hotspots. Only broadband customers of Comcast can sign up for mobile service through the company.Cable companies have said their mobile businesses reduce so-called churn, or the loss of customers, and have been key to gaining new subscribers and driving revenue growth.Cavanagh on Thursday said the company would push to simplify its bundles, following the lead of Charter's mobile and broadband offerings. In September, Charter unveiled a series of changes to its plans, including bundles with mobile, with CEO Chris Winfrey telling CNBC the company ""wanted to make a bold statement.""Disclosure: Comcast owns CNBC parent company NBCUniversal.",CNBC,30/01/2025,"['In this articleCable giant Comcast is looking to the wireless business for growth.', 'Comcast executives said Thursday the company will shift its focus to its mobile business after reporting a loss of 139,000 residential broadband customers during the fourth quarter.', 'Broadband has long been the growth engine of the cable industry, especially after the exodus of cable TV customers.', 'Although broadband segment revenue remains stable, Comcast, like its cable peers, has been in the midst of a slowdown in customer growth, which has concerned investors in recent years.', 'Shares of Comcast fell 11% Thursday.', ""Company executives said during Thursday's earnings call with investors that the company will shift its strategy to package mobile with broadband in a bid for more customers."", 'The stagnation stems from a number of factors, primarily the rise of wireless providers such as Verizon and T-Mobile offering home broadband options.', '""In short, competitive conditions remain intense, dynamic and varied across our footprint and customer segments,"" Comcast President Mike Cavanagh said on Thursday\'s investor call. ""', 'And we see no signs of this changing in the near term.', '""In 2022, Comcast and fellow cable giant Charter Communications each reported their first quarterly decline in broadband subscriber growth.', 'Executives have cited reasons such as the slowdown in buying and selling of homes — noting there are fewer people signing up for cable when they get a new home — as well as a drop-off in additions following robust growth at the height of the Covid pandemic, when lockdowns sent Americans home to work and learn.', 'But the rise of fixed wireless offerings from Verizon and T-Mobile has significantly ramped up competition.', 'In December, Comcast Cable CEO Dave Watson called out the dynamic and warned of a fourth-quarter loss of 100,000 customers.', ""Thursday's announcement amounted to deeper-than-projected subscriber losses."", 'The so-called overbuilding of fiber internet has contributed to the competition, as has fixed wireless, a 5G high-speed broadband offering that is an alternative to cable broadband.', 'Comcast in the past has dismissed fixed wireless as ""an inferior product.', '""On Thursday CFO Jason Armstrong said the expectation is that fixed wireless, and likely satellite companies, will be ""carving out a permanent part of the market.""', ""He also noted cable's increasing broadband speeds as an advantage."", 'In response, Comcast is looking to mobile to both grow and maintain its customer base.', '""While we are the incumbent in the $80 billion U.S. residential broadband market, we are the challenger in the far larger $200 billion U.S. wireless market,"" said Armstrong. ""', 'Wireless is an integral part of our broadband strategy.', '""Comcast now counts more than 7.8 million mobile lines, or 12% penetration of its residential broadband customer base, giving it a ""long runway ahead.', '""Comcast launched Xfinity Mobile in 2017, while Charter started offering mobile in 2018.', 'The two biggest cable companies in the U.S. have touted consistent quarterly gains of mobile lines since then.', 'Smaller operators such as Altice USA and Cox have also added the offering.', ""Comcast and its cable peers' mobile offerings rely on the wireless network of Verizon, as well as customers' home broadband networks and Wi-Fi hotspots."", 'Only broadband customers of Comcast can sign up for mobile service through the company.', 'Cable companies have said their mobile businesses reduce so-called churn, or the loss of customers, and have been key to gaining new subscribers and driving revenue growth.', ""Cavanagh on Thursday said the company would push to simplify its bundles, following the lead of Charter's mobile and broadband offerings."", 'In September, Charter unveiled a series of changes to its plans, including bundles with mobile, with CEO Chris Winfrey telling CNBC the company ""wanted to make a bold statement.', '""Disclosure: Comcast owns CNBC parent company NBCUniversal.']",0.1317674428207308,"Although broadband segment revenue remains stable, Comcast, like its cable peers, has been in the midst of a slowdown in customer growth, which has concerned investors in recent years.",Thursday's announcement amounted to deeper-than-projected subscriber losses.,0.0515672689989993,The two biggest cable companies in the U.S. have touted consistent quarterly gains of mobile lines since then.,"""In 2022, Comcast and fellow cable giant Charter Communications each reported their first quarterly decline in broadband subscriber growth.",2025-02-03
+Frontier Airlines proposes merging with bankrupt Spirit — again. Spirit says no,https://www.cnbc.com/2025/01/29/frontier-airlines-proposes-combining-spirit.html,2025-01-29T16:55:57+0000,"In this articleBankrupt Spirit Airlines said it turned down a new merger offer from rival budget carrier Frontier Airlines.Frontier said Wednesday that it has met with Spirit's board and executives since it made its debt-and-stock merger proposal on Jan. 7. Frontier executives said in a email to counterparts at Spirit this week that their plan is better than Spirit's own plan to emerge from bankruptcy.""We continue to believe that under the current standalone plan, Spirit will emerge highly levered, losing money at the operating level, and this would not be a transaction we would pursue,"" wrote Frontier Chairman Bill Franke and CEO Barry Biffle in a Tuesday email to Spirit Chairman Mac Gardner and CEO Ted Christie. ""As a result, time is of the essence.""Christie and Gardner told their Frontier counterparts that they were rejecting the offer, calling the terms ""inadequate and unactionable,"" according to a letter shared in a securities filing on Wednesday.Frontier's new merger plan offered Spirit's debtors $400 million and a 19% stake in Frontier. It also proposed Spirit creditors provide $350 million in new funding, Spirit said.The Spirit executives called Frontier's proposal ""risky and costly, with no certainty as to either timing or outcome"" and ""woefully insufficient financially.""They said, however, that they would consider a sweetened offer.""Should you wish to make a revised proposal that is in fact capable of closing, and addresses the material deficiencies catalogued here and in our many communications, we would be happy to consider it and again work to activate our stakeholders to do so as well,"" they wrote.The two carriers were in talks for a possible combination before Spirit filed for bankruptcy.Frontier and Spirit first announced a deal to merge in 2022, but a higher JetBlue Airways all-cash offer derailed that plan. JetBlue's planned acquisition of Spirit was blocked by a federal judge last year, and Spirit filed for bankruptcy protection in November.In both deals, the airlines argued they needed to combine to better compete against larger rivals.Spirit said it expects to exit Chapter 11 bankruptcy this quarter and has a Feb. 13 court date to finalize its plan, which wipes out debtor shareholders. It has raced to cut costs in recent months, including by slashing some 200 jobs and selling some of its Airbus planes.Budget carriers like Frontier and Spirit have struggled post-pandemic, as costs like salaries have risen and consumers have opted for trips abroad on carriers with options for roomier and more expensive seats. Larger rivals that control much of the U.S. market have also made inroads with basic economy fares, which aim to compete with the bare-bones tickets that were at one time the backbone of Frontier and Spirit.Spirit has also been particularly challenged by a Pratt & Whitney engine recall that grounded dozens of its jets.Both Frontier and Spirit have been working to upend their business models that were marked by low fares and fees for add-ons from seat assignments to cabin baggage.The airlines last year did away with cancellation and change fees for some of their tickets and started bundling perks along with tickets. Frontier last year said it would start offering a premium section at the front of the plane.",CNBC,29/01/2025,"['In this articleBankrupt Spirit Airlines said it turned down a new merger offer from rival budget carrier Frontier Airlines.', ""Frontier said Wednesday that it has met with Spirit's board and executives since it made its debt-and-stock merger proposal on Jan. 7."", ""Frontier executives said in a email to counterparts at Spirit this week that their plan is better than Spirit's own plan to emerge from bankruptcy."", '""We continue to believe that under the current standalone plan, Spirit will emerge highly levered, losing money at the operating level, and this would not be a transaction we would pursue,"" wrote Frontier Chairman Bill Franke and CEO Barry Biffle in a Tuesday email to Spirit Chairman Mac Gardner and CEO Ted Christie. ""', 'Asa result, time is of the essence.', '""Christie and Gardner told their Frontier counterparts that they were rejecting the offer, calling the terms ""inadequate and unactionable,"" according to a letter shared in a securities filing on Wednesday.', ""Frontier's new merger plan offered Spirit's debtors $400 million and a 19% stake in Frontier."", 'It also proposed Spirit creditors provide $350 million in new funding, Spirit said.', 'The Spirit executives called Frontier\'s proposal ""risky and costly, with no certainty as to either timing or outcome"" and ""woefully insufficient financially.', '""They said, however, that they would consider a sweetened offer.', '""Should you wish to make a revised proposal that is in fact capable of closing, and addresses the material deficiencies catalogued here and in our many communications, we would be happy to consider it and again work to activate our stakeholders to do so as well,"" they wrote.', 'The two carriers were in talks for a possible combination before Spirit filed for bankruptcy.', 'Frontier and Spirit first announced a deal to merge in 2022, but a higher JetBlue Airways all-cash offer derailed that plan.', ""JetBlue's planned acquisition of Spirit was blocked by a federal judge last year, and Spirit filed for bankruptcy protection in November."", 'In both deals, the airlines argued they needed to combine to better compete against larger rivals.', 'Spirit said it expects to exit Chapter 11 bankruptcy this quarter and has a Feb. 13 court date to finalize its plan, which wipes out debtor shareholders.', 'It has raced to cut costs in recent months, including by slashing some 200 jobs and selling some of its Airbus planes.', 'Budget carriers like Frontier and Spirit have struggled post-pandemic, as costs like salaries have risen and consumers have opted for trips abroad on carriers with options for roomier and more expensive seats.', 'Larger rivals that control much of the U.S. market have also made inroads with basic economy fares, which aim to compete with the bare-bones tickets that were at one time the backbone of Frontier and Spirit.', 'Spirit has also been particularly challenged by a Pratt & Whitney engine recall that grounded dozens of its jets.', 'Both Frontier and Spirit have been working to upend their business models that were marked by low fares and fees for add-ons from seat assignments to cabin baggage.', 'The airlines last year did away with cancellation and change fees for some of their tickets and started bundling perks along with tickets.', 'Frontier last year said it would start offering a premium section at the front of the plane.']",0.0576550898135412,"""Should you wish to make a revised proposal that is in fact capable of closing, and addresses the material deficiencies catalogued here and in our many communications, we would be happy to consider it and again work to activate our stakeholders to do so as well,"" they wrote.","The Spirit executives called Frontier's proposal ""risky and costly, with no certainty as to either timing or outcome"" and ""woefully insufficient financially.",-0.1617318391799926,"Larger rivals that control much of the U.S. market have also made inroads with basic economy fares, which aim to compete with the bare-bones tickets that were at one time the backbone of Frontier and Spirit.","Budget carriers like Frontier and Spirit have struggled post-pandemic, as costs like salaries have risen and consumers have opted for trips abroad on carriers with options for roomier and more expensive seats.",2025-02-03
+"Crash investigators looking at altitude, communication and staffing before helicopter collision with plane",https://www.cnbc.com/2025/01/31/american-airlines-helicopter-crash.html,2025-02-01T00:06:18+0000,"WASHINGTON — How an Army Black Hawk helicopter collided with American Airlines jetliner in a deadly crash over the Potomac River on Wednesday night is still unknown, but key questions are emerging, including about the altitude of the military helicopter.Crash investigators recovered a flight recorder from the Sikorsky H-60 helicopter, adding to evidence they will comb through, which already includes interviews with air traffic controllers, including the one on duty at the time of the crash, and the two recorders from the airplane, National Transportation Safety Board member Todd Inman said Friday.Barges are en route to lift the large pieces of the CRJ-700 from the Potomac River on Saturday, Inman said at a briefing.All 64 people on American Flight 5342 and the three aboard the helicopter were killed in the fireball collision near the Washington, D.C.'s Reagan National Airport, marking the deadliest U.S. air crash since 2001.Forty-one bodies have been recovered from the crash site, Fire and EMS Chief John Donnelly said at a press conference Friday. Of those, 28 have been positively identified.""We have in aviation what's called a 'Swiss cheese approach,' wherein if something fails, a backup should catch it, multiple layers of redundancy,"" Inman said. ""It's been a very long time since we've had a major aviation incident in the United States and that's why it's one of the safest forms of transportation in the country.""The PSA Airlines Bombardier CRJ-700 aircraft was flying at about 300 feet on final approach into Reagan National's Runway 33 shortly before 9 p.m. ET on Wednesday when it collided with the Black Hawk helicopter.PSA Airlines is one of American's subsidiaries that flies regional routes, flights marketed as American Eagle.Defense Secretary Pete Hegseth said the helicopter was on an annual proficiency training flight.According to Federal Aviation Administration rules, helicopters, which regularly cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.""In D.C., it's kind of a unique environment,"" Inman said at a briefing Thursday. He noted that there are helicopter zones, or tracks, in Washington. ""This one was transitioning from track one to four as part of their normal procedure. If you live in D.C., you see a lot of helicopters going down into this area. So there's a very well-defined system.""The FAA will restrict helicopter traffic around the Reagan National Airport area, with some exceptions for medical evacuation and law enforcement operations, Secretary of Transportation Sean Duffy said on X Friday.The airspace is some of the most congested in the country and Reagan National says its main runway is the busiest in the U.S.While the investigation is ongoing, two out of three runways are closed at the airport because of their proximity to the crash area. Terry Liercke, vice president and airport manager, told the press Friday that he expects those closures could last for about a week.Officials at the airport said more than 100 flights had been canceled Friday, citing the runway closures and bad weather.""As you turn to align with the runway, your concentration is on the flight path to get on the runway quickly and get the airplane stopped,"" said John Cox, a retired airline pilot and aviation safety consultant.The NTSB is leading the investigation into the collision that ended in a fireball. The agency said it is still gathering information and that it is too early to draw conclusions.""It's not that we don't have information. We do have information,"" said NTSB Chair Jennifer Homendy. ""We have substantial amounts of information. We need to verify information. We need to take our time to make sure it is accurate.""The NTSB also recovered flight data and cockpit voice recorders from the passenger jet. The boxes were taken to NTSB labs for evaluation, the agency said.President Donald Trump on Friday wrote on Truth Social that the helicopter ""was flying too high, by a lot. It was far above the 200 foot limit. That's not really too complicated to understand, is it???""Hegseth made a similar statement at a White House briefing Thursday.""Tragically, last night a mistake was made,"" he said. ""There was some sort of an elevation issue that we have immediately begun investigating at the DoD and Army level.""Both statements were unusual in the wake of a crash and the early stages of an airline accident investigation.The accident ends a decade-and-a-half period of air safety in the U.S., which hasn't seen a fatal commercial crash since 2009, even though passenger traffic has increased by more than 35% to records. That crash prompted a host of stricter pilot training and rest standards.Shortages of air traffic controllers has been a concern for years, and a spate of close calls at U.S. airports have drawn scrutiny from lawmakers and regulators.Staffing at Reagan National the night of the crash wasn't normal for the amount of traffic and time of day on the night of the crash, according to a preliminary FAA safety report on the collision, NBC News reported on Thursday.Citing a source, NBC said the airport tower usually has a controller who focuses on helicopter traffic, though FAA guidelines allow for that position to be combined with another controller's position, so one controller controls both airplanes and helicopters. The FAA didn't respond to a request for comment on the report.NBC News reported on Friday, citing a source familiar with the investigation that a supervisor at the Reagan National tower let a controller leave their shift early. Inman said on Friday that investigators will look back at air traffic controllers' past 72 hours or even weeks.""We'll look at their training, their hiring, everything, what they probably ate that day,"" he said. ""But it is not one point that tells us everything. It's layered into a lot of other information that's very critical.""",CNBC,01/02/2025,"['WASHINGTON — How an Army Black Hawk helicopter collided with American Airlines jetliner in a deadly crash over the Potomac River on Wednesday night is still unknown, but key questions are emerging, including about the altitude of the military helicopter.', 'Crash investigators recovered a flight recorder from the Sikorsky H-60 helicopter, adding to evidence they will comb through, which already includes interviews with air traffic controllers, including the one on duty at the time of the crash, and the two recorders from the airplane, National Transportation Safety Board member Todd Inman said Friday.', 'Barges are en route to lift the large pieces of the CRJ-700 from the Potomac River on Saturday, Inman said at a briefing.', ""All64 people on American Flight 5342 and the three aboard the helicopter were killed in the fireball collisionnear the Washington, D.C.'s Reagan National Airport, marking the deadliest U.S. air crash since 2001.Forty-one bodies have been recovered from the crash site, Fireand EMS Chief JohnDonnelly said at a press conference Friday."", 'Of those, 28 have been positively identified.', '""We have in aviation what\'s called a \'Swiss cheese approach,\' wherein if something fails, a backup should catch it, multiple layers of redundancy,"" Inman said. ""', ""It's been a very long time since we've had a major aviation incident in the United States and that's why it's one of the safest forms of transportation in the country."", '""The PSA Airlines Bombardier CRJ-700 aircraft was flying at about 300 feet on final approach into Reagan National\'s Runway 33 shortly before 9 p.m. ET on Wednesday when it collided with the Black Hawk helicopter.', ""PSA Airlines is one of American's subsidiaries that flies regional routes, flights marketed as American Eagle."", 'Defense Secretary Pete Hegseth said the helicopter was on an annual proficiency training flight.', 'According to Federal Aviation Administration rules, helicopters, which regularly cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.', '""In D.C., it\'s kind of a unique environment,"" Inman said at a briefing Thursday.', 'He noted that there are helicopter zones, or tracks, in Washington. ""', 'This one was transitioning from track one to four as part of their normal procedure.', 'If you live in D.C., you see a lot of helicopters going down into this area.', ""So there's a very well-defined system."", '""The FAA will restrict helicopter traffic around the Reagan National Airport area, with some exceptions for medical evacuation and law enforcement operations, Secretary of Transportation Sean Duffy said on X Friday.', 'The airspace is some of the most congested in the country and Reagan National says its main runway is the busiest in the U.S.While the investigation is ongoing, two out of three runways are closed at the airport because of their proximity to the crash area.', 'Terry Liercke, vice president and airport manager, told the press Friday that he expects those closures could last for about a week.', 'Officials at the airport said more than 100 flights had been canceled Friday, citing the runway closures and bad weather.', '""As you turn to align with the runway, your concentration is on the flight path to get on the runway quickly and get theairplanestopped,"" said John Cox, a retired airline pilot and aviation safety consultant.', 'The NTSB is leading the investigation into the collision that ended in a fireball.', 'The agency said it is still gathering information and that it is too early to draw conclusions.', '""It\'s not that we don\'t have information.', 'We do have information,"" said NTSB Chair Jennifer Homendy. ""', 'We have substantial amounts of information.', 'We need to verify information.', 'We need to take our time to make sure it is accurate.', '""The NTSB also recovered flight data and cockpit voice recorders from the passenger jet.', 'The boxes were taken to NTSB labs for evaluation, the agency said.', 'President Donald Trump on Friday wrote on Truth Social that the helicopter ""was flying too high, by a lot.', 'It was far above the 200 foot limit.', 'That\'s not really too complicated to understand, is it???""Hegseth made a similar statement at a White House briefing Thursday.', '""Tragically, last night a mistake was made,"" he said. ""', 'There was some sort of an elevation issue that we have immediately begun investigating at the DoD and Army level.', '""Both statements were unusual in the wake of a crash and the early stages of an airline accident investigation.', ""The accident ends adecade-and-a-halfperiod of air safety in the U.S., which hasn't seen a fatal commercial crash since 2009, even though passenger traffic has increased by more than 35% to records."", 'That crash prompted a host of stricter pilot training and rest standards.', 'Shortages of air traffic controllers has been a concern for years, and a spate of close calls at U.S. airports have drawn scrutiny from lawmakers and regulators.', ""Staffing at Reagan National the night of the crash wasn't normal for the amount of traffic and time of day on the night of the crash, according to a preliminary FAA safety report on the collision, NBCNewsreported on Thursday."", ""Citing a source, NBC said the airport tower usually has a controller who focuses on helicopter traffic, though FAA guidelines allow for that position to be combined with another controller's position, so one controller controls both airplanes and helicopters."", ""The FAA didn't respond to a request for comment on the report."", 'NBC News reported on Friday, citing a source familiar with the investigation that a supervisor at the Reagan National tower let a controller leave their shift early.', ""Inman said on Friday that investigators will look back at air traffic controllers' past 72 hours or even weeks."", '""We\'ll look at their training, their hiring, everything, what they probably ate that day,"" he said. ""', 'But it is not one point that tells us everything.', 'It\'s layered into a lot of other information that\'s very critical.""']",-0.0765052939363805,It's been a very long time since we've had a major aviation incident in the United States and that's why it's one of the safest forms of transportation in the country.,"All64 people on American Flight 5342 and the three aboard the helicopter were killed in the fireball collisionnear the Washington, D.C.'s Reagan National Airport, marking the deadliest U.S. air crash since 2001.Forty-one bodies have been recovered from the crash site, Fireand EMS Chief JohnDonnelly said at a press conference Friday.",-0.5827317635218302,"The accident ends adecade-and-a-halfperiod of air safety in the U.S., which hasn't seen a fatal commercial crash since 2009, even though passenger traffic has increased by more than 35% to records.","Shortages of air traffic controllers has been a concern for years, and a spate of close calls at U.S. airports have drawn scrutiny from lawmakers and regulators.",2025-02-03
+New York City office demand is finally back to normal,https://www.cnbc.com/2025/01/31/new-york-city-office-demand-back-to-normal.html,2025-01-31T20:42:30+0000,"In this articleDemand for New York City office space has finally returned to pre-pandemic levels, driven by an influx of new workers as well as a drive by employers to see current workers return to the office.During the fourth quarter, office demand in the city jumped 25% from the year before, according to VTS, which measures demand through unique new tenant tours of properties. The measure is an early indicator of new leasing.""New York City's shift back to in-office work reflects the city's unique cultural and economic dynamics, especially in the finance and tech sectors,"" said Nick Romito, CEO of VTS, in a news release.SL Green Realty Corp., a real estate investment trust, or REIT, concentrated in Manhattan office and retail, released earnings last week, and while it missed revenue expectations, analysts pointed to further tightening in the office market as leasing demand accelerates.On a call with analysts, SL Green Realty CEO Marc Holliday noted that the city's Office of Management and Budget is forecasting about 38,000 new office-using jobs in 2025, mostly stemming from finance, business services and information technology.""That translates into millions and millions of square feet of new absorption for each one of those bodies, and those are not work-from-home bodies for the most part,"" said Holliday. ""Combine that with the fact that on-site attendance is rising every month as companies are calling people back to the office four and five days a week. We expect to see very strong demand for office space throughout 2025,"" Holliday added.Holliday also noted SL Green ended the year at 92.5% occupancy, and is projecting more than 93% leased occupancy over the coming year.Tech giant IBM recently signed a 92,663-square-foot expansion lease with SL Green at One Madison Avenue, increasing IBM's total footprint at the property to more than 362,000 square feet.""The expansion of IBM's flagship office at One Madison Avenue reaffirms a long-standing commitment to advance the technology sector in New York City and New York State, with a vibrant and collaborative workspace designed to bring employees, clients and partners together from around the world,"" said Joanne Wright, IBM senior vice president for transformation and operations, in a release.New York is the clear winner in the office recovery, but VTS notes other improving markets. San Francisco saw a 32% annual growth rate in demand, a faster growth rate than New York's, though it was starting at a much weaker position. Seattle and Chicago saw growth rates of around 15% each as employers in those cities increasingly embrace hybrid work models that require consistent in-office presence.""The data shows that while some markets, like New York City, are rapidly returning to traditional office settings, the national picture reflects slow but steady progress,"" said Ryan Masiello, chief strategy officer of VTS.Nationally, demand in the fourth quarter was up 12% from the previous quarter. Historically, demand declines from the third quarter to the fourth quarter.""This growth is notable — not only for defying seasonal expectations, but for emerging in the midst of a cooling labor market. Businesses appear more willing to invest in office space despite economic uncertainty, signaling a shift in confidence and long-term planning,"" Masiello said.",CNBC,31/01/2025,"['In this articleDemand for New York City office space has finally returned to pre-pandemic levels, driven by an influx of new workers as well as a drive by employers to see current workers return to the office.', 'During the fourth quarter, office demand in the city jumped 25% from the year before, according to VTS, which measures demand through unique new tenant tours of properties.', 'The measure is an early indicator of new leasing.', '""New York City\'s shift back to in-office work reflects the city\'s unique cultural and economic dynamics, especially in the finance and tech sectors,"" said Nick Romito, CEO of VTS, in a news release.', 'SL Green Realty Corp., a real estate investment trust, or REIT, concentrated in Manhattan office and retail, released earnings last week, and while it missed revenue expectations, analysts pointed to further tightening in the office market as leasing demand accelerates.', ""On a call with analysts, SL Green Realty CEO Marc Holliday noted thatthe city's Office of Management and Budget is forecasting about 38,000 new office-using jobs in 2025, mostly stemming from finance, business services and information technology."", '""That translates into millions and millions of square feet of new absorption for each one of those bodies, and those are not work-from-home bodies for the most part,"" said Holliday. ""', 'Combine that with the fact that on-site attendance is rising every month as companies are calling people back to the office four and five days a week.', 'We expect to see very strong demand for office space throughout 2025,"" Holliday added.', 'Holliday also noted SL Green ended the year at 92.5% occupancy, and is projecting more than 93% leased occupancy over the coming year.', ""Tech giant IBM recently signed a 92,663-square-foot expansion lease with SL Green at One Madison Avenue, increasing IBM's total footprint at the property to more than 362,000 square feet."", '""The expansion of IBM\'s flagship office at One Madison Avenue reaffirms a long-standing commitment to advance the technology sector in New York City and New York State, with a vibrant and collaborative workspace designed to bring employees, clients and partners together from around the world,"" saidJoanne Wright, IBM senior vice president for transformation and operations, in a release.', 'New York is the clear winner in the office recovery, but VTS notes other improving markets.', ""San Francisco saw a 32% annual growth rate in demand, a faster growth rate than New York's, though it was starting at a much weaker position."", 'Seattle and Chicago saw growth rates of around 15% each as employers in those cities increasingly embrace hybrid work models that require consistent in-office presence.', '""The data shows that while some markets, like New York City, are rapidly returning to traditional office settings, the national picture reflects slow but steady progress,"" said Ryan Masiello, chief strategy officer of VTS.Nationally, demand in the fourth quarter was up 12% from the previous quarter.', 'Historically, demand declines from the third quarter to the fourth quarter.', '""This growth is notable — not only for defying seasonal expectations, but for emerging in the midst of a cooling labor market.', 'Businesses appear more willing to invest in office space despite economic uncertainty, signaling a shift in confidence and long-term planning,"" Masiello said.']",0.2373358636412649,"New York is the clear winner in the office recovery, but VTS notes other improving markets.","During the fourth quarter, office demand in the city jumped 25% from the year before, according to VTS, which measures demand through unique new tenant tours of properties.",0.8551942780613899,"""The data shows that while some markets, like New York City, are rapidly returning to traditional office settings, the national picture reflects slow but steady progress,"" said Ryan Masiello, chief strategy officer of VTS.Nationally, demand in the fourth quarter was up 12% from the previous quarter.","Historically, demand declines from the third quarter to the fourth quarter.",2025-02-03
+FAA to restrict helicopter traffic around D.C. airport after fatal airplane collision,https://www.cnbc.com/2025/01/31/faa-restricts-airspace-dca-washington-aiport-crash.html,2025-01-31T23:08:54+0000,"In this articleWASHINGTON — The Federal Aviation Administration will restrict helicopter traffic around Ronald Reagan Washington National Airport in Washington, D.C., after the fatal collision of Army Black Hawk helicopter with an American Airlines jetliner earlier this week, Transportation Secretary Sean Duffy said Friday.""Today's decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today's action is a significant step towards restoring that trust.""The restricted area includes Memorial Bridge to South Capitol Street Bridge, excluding the Tidal Basin; Haines Point to Wilson Bridge; and the airspace above the airport, Duffy said in the post.National Transportation Safety Board member Todd Inman said at a briefing Thursday afternoon that helicopters operate in zones, or tracks, in Washington. ""This one was transitioning from track one to four as part of their normal procedure,"" he said. ""If you live in D.C., you see a lot of helicopters going down into this area. So there's a very well-defined system.""American Eagle Flight 5342 was seconds away from landing at Reagan National Airport when it collided with the Army helicopter on Wednesday night. All 64 people on board the plane and all three people on the helicopter died. It was the first deadly commercial airline crash in the U.S. in more than 15 years and the deadliest since 2001.American Airlines CEO Robert Isom said Thursday that it was not clear ""why the military aircraft came into the path"" of its aircraft. On Friday, Isom thanked President Donald Trump ""for his leadership on aviation safety. I applaud him, Secretary Duffy and the Administration for taking quick and decisive action today to restrict helicopter activity around DCA.""Investigators on Friday continued their investigation, looking at aspects such as the altitude of the aircraft, staffing and communication with air traffic controllers.The American Airlines plane, a regional CRJ700 that was arriving from Wichita, Kansas, was flying at about 300 feet on its final approach when it collided with the Black Hawk.According to FAA rules, helicopters, which routinely cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.",CNBC,31/01/2025,"['In this articleWASHINGTON — The Federal Aviation Administration will restrict helicopter traffic around Ronald Reagan Washington National Airportin Washington, D.C., after the fatal collision of Army Black Hawk helicopter with an American Airlines jetliner earlier this week, Transportation Secretary Sean Duffy said Friday.', '""Today\'s decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today\'s action is a significant step towards restoring that trust.', '""The restricted area includes Memorial Bridge to South Capitol Street Bridge, excluding the Tidal Basin; Haines Point to Wilson Bridge; and the airspace above the airport, Duffy said in the post.', 'National Transportation Safety Board member Todd Inman said at a briefing Thursday afternoon that helicopters operate in zones, or tracks, in Washington. ""', 'This one was transitioning from track one to four as part of their normal procedure,"" he said. ""', 'If you live in D.C., you see a lot of helicopters going down into this area.', ""So there's a very well-defined system."", '""American Eagle Flight 5342 was seconds away from landing at Reagan National Airport when it collided with the Army helicopter on Wednesday night.', 'All 64 people on board the plane and all three people on the helicopter died.', 'It was the first deadly commercial airline crash in the U.S. in more than 15 years and the deadliest since 2001.American Airlines CEO Robert Isom said Thursday that it was not clear ""why the military aircraft came into the path"" of its aircraft.', 'On Friday, Isom thanked President Donald Trump""for his leadership on aviation safety.', 'I applaud him, Secretary Duffy and the Administration for taking quick and decisive action today to restrict helicopter activity around DCA.""Investigators on Friday continued their investigation, looking at aspects such as the altitude of the aircraft, staffing and communication with air traffic controllers.', 'The American Airlines plane, a regional CRJ700 that was arriving from Wichita, Kansas, was flying at about 300 feet on its final approach when it collided with the Black Hawk.', 'According to FAA rules, helicopters, which routinely cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.']",0.0261326675356146,"""Today's decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today's action is a significant step towards restoring that trust.","In this articleWASHINGTON — The Federal Aviation Administration will restrict helicopter traffic around Ronald Reagan Washington National Airportin Washington, D.C., after the fatal collision of Army Black Hawk helicopter with an American Airlines jetliner earlier this week, Transportation Secretary Sean Duffy said Friday.",0.412668228149414,"""Today's decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today's action is a significant step towards restoring that trust.","It was the first deadly commercial airline crash in the U.S. in more than 15 years and the deadliest since 2001.American Airlines CEO Robert Isom said Thursday that it was not clear ""why the military aircraft came into the path"" of its aircraft.",2025-02-03
+"Trump's tariffs could threaten Hollywood production, box office recovery",https://www.cnbc.com/2025/02/03/trump-tariffs-could-threaten-hollywood-production-box-office-recovery.html,2025-02-03T14:10:18+0000,"LOS ANGELES — President Donald Trump just picked a fight with Hollywood's best friend.Known as Hollywood North, Canada has been a bustling production hub for American film and television series for decades. In addition to offering an enticing tax credit for stateside studios, the country has developed a top-notch workforce of industry talent in front of and behind the camera.Trump's import tariffs on Canadian goods could threaten that relationship, Hollywood insiders told CNBC.Some fear that a heightened trade war with Canada could cause the U.S.' northern neighbor to retaliate in ways that would hurt film production, potentially rescinding those sought-after tax credits or closing stages to U.S. studios altogether. Others believe the relationship between Hollywood and Canada is strong enough, and lucrative enough, to withstand Trump's levies.""No one — on either side of the border — wants to see American tariffs on Canadian goods,"" Canadian Prime Minister Justin Trudeau wrote on social media site X on Friday, promising a ""forceful and immediate response.""On Saturday, Trump announced 25% tariffs on most goods from Mexico and Canada, as well as a 10% duty on goods from China. Trudeau immediately slapped retaliatory tariffs on American goods, saying, ""Like the American tariffs, our response will also be far-reaching.""Trump's tariffs could put pressure on production budgets, according to industry insiders, particularly for films and television shows that import certain textiles for costuming or unique construction materials such as specialty glass from outside the U.S.However, most studios source materials locally to their productions. It is rare for a Los Angeles-based set to bring in lumber from Canada, for example. Films and TV shows filmed in other countries will predominantly use supplies in those locations or ship them from the U.S. This includes food used in catering, which could see a slight uptick in price because of tariffs, but likely will not alter budgets too much.Additionally, many of the line items on the typical production budget are rented. Lighting, cameras and other production equipment come from studio warehouses and are leased for the duration of the shoot, insolating production costs from higher levies to an extent.Still, concerns are growing that higher tariffs across sectors could affect moviegoers' wallets and in turn threaten box office sales.Companies importing goods into the U.S. from these affected countries are expected to pass additional costs onto consumers, raising the cost of hundreds of common household goods. Film industry members who spoke to CNBC said they were worried that if customers start to tighten their purse strings, trips to the theater could be among the expenses that get cut.Hollywood has only just begun to rebound after Covid-19 pandemic production shutdowns were exacerbated by dual labor strikes. Now, even if studios are able to improve the cadence of theatrical releases, there is concern that moviegoers will not have the discretionary income to see new films and buy popcorn.If that reality bears out, the whole industry could suffer.Ultimately, industry experts told CNBC that Hollywood will navigate whatever consequences come from Trump's tariffs. However, it likely will have a harder time dealing with any pullback in consumer spending.The hope is that even if prices spike, blockbuster films set for release in 2025 will be enough to drive ticket sales and foot traffic.",CNBC,03/02/2025,"[""LOS ANGELES — President Donald Trump just picked a fight with Hollywood's best friend."", 'Known as Hollywood North, Canada has been a bustling production hub for American film and television series for decades.', 'In addition to offering an enticing tax credit for stateside studios, the country has developed a top-notch workforce of industry talent in front of and behind the camera.', ""Trump's import tariffs on Canadian goods could threaten that relationship, Hollywood insiders told CNBC.Some fear that a heightened trade war with Canada could cause the U.S.' northern neighbor to retaliate in ways that would hurt film production, potentially rescinding those sought-after tax credits or closing stages to U.S. studios altogether."", ""Others believe the relationship between Hollywood and Canada is strong enough, and lucrative enough, to withstand Trump's levies."", '""No one — on either side of the border — wants to see American tariffs on Canadian goods,"" Canadian Prime Minister Justin Trudeau wrote on social media site X on Friday, promising a ""forceful and immediate response.', '""On Saturday, Trump announced 25% tariffs on most goods from Mexico and Canada, as well as a 10% duty on goods from China.', 'Trudeau immediately slapped retaliatory tariffs on American goods, saying, ""Like the American tariffs, our response will also be far-reaching.', '""Trump\'s tariffs could put pressure on production budgets, according to industry insiders, particularly for films and television shows that import certain textiles for costuming or unique construction materials such as specialty glass from outside the U.S.However, most studios source materials locally to their productions.', 'It is rare for a Los Angeles-based set to bring in lumber from Canada, for example.', 'Films and TV shows filmed in other countries will predominantly use supplies in those locations or ship them from the U.S. This includes food used in catering, which could see a slight uptick in price because of tariffs, but likely will not alter budgets too much.', 'Additionally, many of the line items on the typical production budget are rented.', 'Lighting, cameras and other production equipment come from studio warehouses and are leased for the duration of the shoot, insolating production costs from higher levies to an extent.', ""Still, concerns are growing that higher tariffs across sectors could affect moviegoers' wallets and in turn threaten box office sales."", 'Companies importing goods into the U.S. from these affected countries are expected to pass additional costs onto consumers, raising the cost of hundreds of common household goods.', 'Film industry members who spoke to CNBC said they were worried that if customers start to tighten their purse strings, trips to the theater could be among the expenses that get cut.', 'Hollywood has only just begun to rebound after Covid-19 pandemic production shutdowns were exacerbated by dual labor strikes.', 'Now, even if studios are able to improve the cadence of theatrical releases, there is concern that moviegoers will not have the discretionary income to see new films and buy popcorn.', 'If that reality bears out, the whole industry could suffer.', ""Ultimately, industry experts told CNBC that Hollywood will navigate whatever consequences come from Trump's tariffs."", 'However, it likely will have a harder time dealing with any pullback in consumer spending.', 'The hope is that even if prices spike, blockbuster films set for release in 2025 will be enough to drive ticket sales and foot traffic.']",0.0466534271824637,"The hope is that even if prices spike, blockbuster films set for release in 2025 will be enough to drive ticket sales and foot traffic.","Trump's import tariffs on Canadian goods could threaten that relationship, Hollywood insiders told CNBC.Some fear that a heightened trade war with Canada could cause the U.S.' northern neighbor to retaliate in ways that would hurt film production, potentially rescinding those sought-after tax credits or closing stages to U.S. studios altogether.",-0.142946856362479,"Others believe the relationship between Hollywood and Canada is strong enough, and lucrative enough, to withstand Trump's levies.","Still, concerns are growing that higher tariffs across sectors could affect moviegoers' wallets and in turn threaten box office sales.",2025-02-03
+"Billionaire family offices kick off 2025 with investments in AI, health care",https://www.cnbc.com/2025/01/31/family-office-investing-january-arnault-laurene-powell-jobs-premji.html,2025-01-31T15:37:39+0000,"A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Europe's richest person, Bernard Arnault, built his fortune on designer handbags and Champagne. His latest bet: security guards.",CNBC,31/01/2025,"[""A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer."", 'Sign upto receive future editions, straight to your inbox.', ""Europe's richest person, Bernard Arnault, built his fortune on designer handbags and Champagne."", 'His latest bet: security guards.']",0.4680034651153835,"Europe's richest person, Bernard Arnault, built his fortune on designer handbags and Champagne.",,,,,2025-02-03
+American Airlines CEO says it's not clear why helicopter came into jetliner's flight path,https://www.cnbc.com/2025/01/30/american-airlines-plane-crash-flight-path.html,2025-01-30T19:39:26+0000,"In this articleAmerican Airlines CEO Robert Isom said Thursday morning that the regional jet that collided with a Black Hawk military helicopter near Washington, D.C's Reagan National Airport on Wednesday night was on a standard flight path.The collision between American Eagle Flight 5342 and the helicopter occurred at about 9 p.m. Wednesday. Officials do not expect to find any survivors.""At this time, we don't know why the military aircraft came into the path of the PSA aircraft,"" Isom said at a Thursday morning press conference.Isom said in a staff note Thursday that the National Transportation Safety Board would be the ""sole source of truth going forward, and accuracy is of the utmost importance.""PSA Airlines is an American Airlines subsidiary and one of its regional carriers. American Eagle is how American Airlines brands its regional flights.""It is not standard to have aircraft collide. I'll be clear on that,"" Transportation Secretary Sean Duffy said at the press conference. ""But prior to the collision, the flight paths that were being flown from the military and from American, that was not unusual for what happens in the D.C. airspace.""Isom added that the airline has activated its care team to assist in recovery efforts.""We're absolutely heartbroken for the family and loved ones of the passengers and crew members and also for those that were on the military aircraft. Our focus right now is doing everything that we can to support all of those involved and also the PSA Airlines team,"" he said.The commercial jet was flying from Wichita, Kansas, to Ronald Reagan Washington National Airport and was moments away from landing on the airport runway. Both vehicles crashed into the Potomac River.Isom urged people to call American's designated helpline at 1-800-679-8215 to find information on their loved ones.Isom, who traveled to Washington on Wednesday night, said American's ""go team"" has also been deployed to Washington to provide resources for passengers' and crew members' families and loved ones. Sixty-four people were aboard the flight, including 60 passengers and four crew members.Passengers included American and Russian elite figure skaters, their coaches and family members. U.S. Figure Skating said in a statement that the skaters were returning from a training camp in Wichita.Isom said American is working with local, state and federal authorities on the recovery efforts and that PSA Airlines is cooperating with the National Transportation Safety Board's investigation.""I know that there are many questions at this early stage that I just won't be able to answer, but we'll provide additional information as it comes,"" Isom said.",CNBC,30/01/2025,"[""In this articleAmerican Airlines CEO Robert Isom said Thursday morning that the regional jet that collided with a Black Hawk military helicopter near Washington, D.C's Reagan National Airport on Wednesday night was on a standard flight path."", 'The collision between American Eagle Flight 5342 and the helicopter occurred at about 9 p.m. Wednesday.', 'Officials do not expect to find any survivors.', '""At this time, we don\'t know why the military aircraft came into the path of the PSA aircraft,"" Isom said at a Thursday morning press conference.', 'Isom said in a staff note Thursday that the National Transportation Safety Board would be the ""sole source of truth going forward, and accuracy is of the utmost importance.', '""PSAAirlinesis an American Airlines subsidiary and one of its regional carriers.', 'American Eagle is how American Airlines brands its regional flights.', '""It is not standard to have aircraft collide.', 'I\'ll be clear on that,"" Transportation Secretary Sean Duffy said at the press conference. ""', 'But prior to the collision, the flight paths that were being flown from the military and from American, that was not unusual for what happens in the D.C. airspace.', '""Isom added that the airline has activated its care team to assist in recovery efforts.', '""We\'re absolutely heartbroken for the family and loved ones of the passengers and crew members and also for those that were on the military aircraft.', 'Our focus right now is doing everything that we can to support all of those involved and also the PSA Airlines team,"" he said.', 'The commercial jet was flying from Wichita, Kansas, to Ronald Reagan Washington National Airport and was moments away from landing on the airport runway.', 'Both vehicles crashed into the Potomac River.', ""Isom urged people to call American's designated helpline at 1-800-679-8215 to find information on their loved ones."", 'Isom, who traveled to Washington on Wednesday night, said American\'s ""go team"" has also been deployed to Washington to provide resources for passengers\' and crew members\' families and loved ones.', 'Sixty-four people were aboard the flight, including 60 passengers and four crew members.', 'Passengers included American and Russian elite figure skaters, their coaches and family members.', 'U.S. Figure Skating said in a statement that the skaters were returning from a training camp in Wichita.', ""Isom said American is working with local, state and federal authorities on the recovery efforts and that PSA Airlines is cooperating with the National Transportation Safety Board's investigation."", '""I know that there are many questions at this early stage that I just won\'t be able to answer, but we\'ll provide additional information as it comes,"" Isom said.']",0.1168998218720883,"Isom said in a staff note Thursday that the National Transportation Safety Board would be the ""sole source of truth going forward, and accuracy is of the utmost importance.","But prior to the collision, the flight paths that were being flown from the military and from American, that was not unusual for what happens in the D.C. airspace.",,,,2025-02-03
+Sports bar chain Twin Peaks is going public. These restaurant companies are the next to watch,https://www.cnbc.com/2025/01/30/twin-peaks-goes-public-panera-fogo-de-chao-consider-ipos.html,2025-01-30T13:03:55+0000,"In this articleSports bar chain Twin Peaks starts trading Thursday on the Nasdaq using the ticker ""TWNP,"" making it the first restaurant initial public offering of the new year and a potential litmus test for others looking to go public.The IPO market has been tepid for several years, particularly for consumer companies. Soaring inflation, higher interest rates, cautious consumers and the risk of lower valuations scared many companies away from going public. Market conditions meant that some companies chose to seek a sale rather than trying their luck with the public markets. Even the rare success, like Cava's IPO, didn't convince others to follow its path.But many are hopeful that the IPO market will thaw this year.""Last year was a stronger year than 2023, and we're expecting 2025 to have more IPOs than 2024,"" said Nick Einhorn, vice president of research for Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs. ""That could certainly include more consumer IPOs.""Twin Peaks won't be the first consumer company to make the leap this year — and that debut may not inspire confidence.Pork producer Smithfield Foods, a subsidiary of Hong Kong-based WH Group, began trading on Tuesday. Shares fell 7% from its IPO price of $20 during its market debut. The company had already downsized its offering by 8.1 million shares and priced below its marketed range. Smithfield's challenges include its ties to China, U.S. trade tensions with Mexico and proposed immigration policies that would raise its labor costs.For its part, Twin Peaks, a Hooters rival known for its revealing uniform, is relatively small, with an estimated equity value of $1.04 billion to $1.28 billion and 115 restaurants, according to an investor presentation published by owner Fat Brands. (Fat Brands and its chair Andy Wiederhorn were criminally indicted last year for an alleged $47 million bogus loan scheme; both have denied the charges.)Fat Brands is spinning off Twin Peaks and plans to use the cash to pay off the debt on its balance sheet.Here are three other restaurant companies that are watching the IPO market for their chance to go public:JAB Holding, the investment arm of the Reimann family, has been looking to offload Panera Brands, the parent company of Panera Bread and Einstein Bros. Bagels, from its portfolio for several years. JAB originally took Panera Bread private in 2017 for $7.5 billion.In 2021, Panera announced an investment from Danny Meyer's special purpose acquisition company that would help the company go public. But the two parties called off the deal by mid-2022, citing market conditions.A year and half later, in December 2023, Panera Brands confidentially filed to go public. Six months after the confidential filing, the company announced a CEO transition and tied the shakeup to ""preparation for its eventual IPO.""However, a public filing never followed. The restaurant industry began to see a pullback in spending, as many consumers opted to cook at home instead of dining out at eateries.Plus, Panera's Charged Lemonade went viral for all of the wrong reasons; the company removed the highly caffeinated drink from its menu after multiple wrongful death lawsuits tied to it. Panera settled with the first plaintiff in October.Earlier this month, Panera's CEO resigned, and the company tapped its chief financial officer to step in as interim chief. With its leadership in flux, it looks unlikely that Panera will try to go public again this year.A year and a half ago, Bain Capital announced that it is buying Fogo de Chao, a fast-growing Brazilian steakhouse chain. Like Krispy Kreme, Sweetgreen and Dutch Bros., the chain had filed to go public in 2021 — but it missed the window.  Fogo de Chao has over 100 locations globally and 76 in the U.S. alone. The company plans to open another 15 restaurants this year.Whenever the IPO market is ready, so will Fogo de Chao.""If the optionality is there, then we'll launch,"" Fogo de Chao CEO Barry McGowan told CNBC at the ICR Conference in Orlando earlier in January. ""My hope is, this year, we'll see what happens to the consumer markets. I think it's going to get started this year or in the next year.""McGowan joked that Fogo de Chao's longtime CFO Tony Laday has filed more S-1 filings than any other chief financial officer; the company filed three the first time it went public, and seven before Bain bought it.Thanks to Bain's investment, Fogo de Chao isn't in a rush to go public.""We're not in a hurry to go. We don't want to file seven more times. We want to be more certain before we file,"" McGowan said.Roark Capital assembled Inspire Brands by cobbling together a slew of acquisitions into a restaurant conglomerate.Inspire's portfolio includes Arby's, Jimmy John's, Sonic, Buffalo Wild Wings, Dunkin' and Baskin Robbins. Across all of its brands, it has more than 32,600 restaurants globally and totals $30 billion in system sales.Nearly a year ago, Bloomberg reported that Roark was in early-stage IPO discussions with potential advisers and seeking a valuation of $20 billion for Inspire. But it's been crickets since then.Still, Pitchbook identified Inspire Brands as one of 50 private equity-backed names that could go public in 2025.""Obviously, private equity backers will want to exit their position eventually, and IPOs are often a way to do that,"" Einhorn said.And unlike Panera, Inspire has a stable leadership team. CEO Paul Brown co-founded the company and has held his role since 2018. CFO Kate Jaspon joined Inspire in 2021 after it acquired her employer Dunkin'. More than a decade ago, she was a vice president at Dunkin' during its own IPO.",CNBC,30/01/2025,"['In this articleSports bar chain Twin Peaks starts trading Thursday on the Nasdaq using the ticker ""TWNP,"" making it the first restaurant initial public offering of the new year and a potential litmus test for others looking to go public.', 'The IPO market has been tepid for several years, particularly for consumer companies.', 'Soaring inflation, higher interest rates, cautious consumers and the risk of lower valuations scared many companies away from going public.', 'Market conditions meant that some companies chose to seek a sale rather than trying their luck with the public markets.', ""Even the rare success, like Cava's IPO, didn't convince others to follow its path."", 'But many are hopeful that the IPO market will thaw this year.', '""Last year was a stronger year than 2023, and we\'re expecting 2025 to have more IPOs than 2024,"" said Nick Einhorn, vice president of research for Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs. ""', 'That could certainly include more consumer IPOs.', '""Twin Peaks won\'t be the first consumer company to make the leap this year — and that debut may not inspire confidence.', 'Pork producer Smithfield Foods, a subsidiary of Hong Kong-based WH Group, began trading on Tuesday.', 'Shares fell 7% from its IPO price of $20 during its market debut.', 'The company had already downsized its offering by 8.1 million shares and priced below its marketed range.', ""Smithfield's challenges include its ties to China, U.S. trade tensions with Mexico and proposed immigration policies that would raise its labor costs."", 'For its part, Twin Peaks, a Hooters rival known for its revealing uniform, is relatively small, with an estimated equity value of $1.04 billion to $1.28 billion and 115 restaurants, according to an investor presentation published by owner Fat Brands. (', 'Fat Brands and its chair Andy Wiederhorn were criminally indicted last year for an alleged $47 million bogus loan scheme; both have denied the charges.)Fat Brands is spinning off Twin Peaks and plans to use the cash to pay off the debt on its balance sheet.', 'Here are three other restaurant companies that are watching the IPO market for their chance to go public:JAB Holding, the investment arm of the Reimann family, has been looking to offload Panera Brands, the parent company of Panera Bread and Einstein Bros. Bagels, from its portfolio for several years.', 'JAB originally took Panera Bread private in 2017 for $7.5 billion.', ""In 2021, Panera announced an investment from Danny Meyer's special purpose acquisition company that would help the company go public."", 'But the two parties called off the deal by mid-2022, citing market conditions.', 'A year and half later, in December 2023, Panera Brands confidentially filed to go public.', 'Six months after the confidential filing, the company announced a CEO transition and tied the shakeup to ""preparation for its eventual IPO.""However, a public filing never followed.', 'The restaurant industry began to see a pullback in spending, as many consumers opted to cook at home instead of dining out at eateries.', ""Plus, Panera's Charged Lemonade went viral for all of the wrong reasons; the company removed the highly caffeinated drink from its menu after multiple wrongful death lawsuits tied to it."", 'Panera settled with the first plaintiff in October.', ""Earlier this month, Panera's CEO resigned, and the company tapped its chief financial officer to step in as interim chief."", 'With its leadership in flux, it looks unlikely that Panera will try to go public again this year.', 'A year and a half ago, Bain Capital announced that it is buying Fogo de Chao, a fast-growing Brazilian steakhouse chain.', 'Like Krispy Kreme, Sweetgreen and Dutch Bros., the chain had filed to go public in 2021 — but it missed the window.', 'Fogo de Chao has over 100 locations globally and 76 in the U.S. alone.', 'The company plans to open another 15 restaurants this year.', 'Whenever the IPO market is ready, so will Fogo de Chao.', '""If the optionality is there, then we\'ll launch,"" Fogo de Chao CEO Barry McGowan told CNBC at the ICR Conference in Orlando earlier in January. ""', ""My hope is, this year, we'll see what happens to the consumer markets."", ""I think it's going to get started this year or in the next year."", '""McGowan joked that Fogo de Chao\'s longtime CFO Tony Laday has filed more S-1 filings than any other chief financial officer; the company filed three the first time it went public, and seven before Bain bought it.', ""Thanks to Bain's investment, Fogo de Chao isn't in a rush to go public."", '""We\'re not in a hurry to go.', ""We don't want to file seven more times."", 'We want to be more certain before we file,"" McGowan said.', 'Roark Capital assembled Inspire Brands by cobbling together a slew of acquisitions into a restaurant conglomerate.', ""Inspire's portfolio includes Arby's, Jimmy John's, Sonic, Buffalo Wild Wings, Dunkin' and Baskin Robbins."", 'Across all of its brands, it has more than 32,600 restaurants globally and totals $30 billion in system sales.', 'Nearly a year ago, Bloomberg reported that Roark was in early-stage IPO discussions with potential advisers and seeking a valuation of $20 billion for Inspire.', ""But it's been crickets since then."", 'Still, Pitchbook identified Inspire Brands as one of 50 private equity-backed names that could go public in 2025.""Obviously, private equity backers will want to exit their position eventually, and IPOs are often a way to do that,"" Einhorn said.', 'And unlike Panera, Inspire has a stable leadership team.', 'CEO Paul Brown co-founded the company and has held his role since 2018.', ""CFO Kate Jaspon joined Inspire in 2021 after it acquired her employer Dunkin'."", ""More than a decade ago, she was a vice president at Dunkin' during its own IPO.""]",0.1443571251569377,"Even the rare success, like Cava's IPO, didn't convince others to follow its path.","Plus, Panera's Charged Lemonade went viral for all of the wrong reasons; the company removed the highly caffeinated drink from its menu after multiple wrongful death lawsuits tied to it.",-0.4373505661884944,"""Last year was a stronger year than 2023, and we're expecting 2025 to have more IPOs than 2024,"" said Nick Einhorn, vice president of research for Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs. ""","The restaurant industry began to see a pullback in spending, as many consumers opted to cook at home instead of dining out at eateries.",2025-02-03
+WNBA files trademark application to bring back 'Detroit Shock' as city submits expansion bid,https://www.cnbc.com/2025/01/31/wnba-detroit-team-bid-trademark.html,2025-01-31T17:59:30+0000,"As cities across the country vie for the next Women's National Basketball Association team, the league quietly filed a trademark application this week for the name ""Detroit Shock.""The filing, dated Thursday, notes the intended use is for a basketball team, merchandise, jerseys and in-arena signage that could appear on TV or radio broadcasts. It could offer clues into the league's ultimate decision for the location of a new franchise.On Friday, Detroit Pistons owner Tom Gores submitted a bid for the Motor City to host a new team. The ownership group would be led by Gores and also includes Detroit Lions principal owner and chair Sheila Ford Hamp; former Detroit Pistons stars Grant Hill and Chris Webber; General Motors CEO Mary Barra; and Detroit Lions quarterback Jared Goff.""Detroit is a sports town that loves its teams deeply and consistently shows up with unwavering passion,"" Gores said in a statement.The WNBA and Detroit Pistons did not immediately respond to CNBC's request for comment on the trademark application.The new trademark application by the WNBA is the only submission from the professional women's basketball league since early December, according to Josh Gerben, a trademark attorney at Gerben IP, who is not involved with the specific filing.Unlike other professional sports leagues where individual teams own their own trademark filings, the WNBA holds the rights to all names and logos for the league's franchises, according to Gerben.""Circumstantial evidence would be that [Detroit's] is a winning bid and they're very much planning on getting this going to have filed that trademark application,"" Gerben told CNBC.However, Gerben said the filing could also be a way for the league to protect itself against ""squatters"" or others trying to use the name.Another trademark application was filed for the ""Detroit Shock"" by an individual named Ryan Reed in July 2023, but that trademark has yet to be approved. A person with the same name, purportedly based in Detroit, identifies as the founder of a women's basketball league on LinkedIn.The Detroit Shock were a WNBA team based in Auburn Hills, Michigan, from 1998 to 2009. The team won three WNBA Championships in 2003, 2006 and 2008. In 2009, the franchise moved to Tulsa, Oklahoma, where they played until 2015. Today, they play in Arlington, Texas, as the Dallas Wings.WNBA Commissioner Cathy Engelbert said at the WNBA Finals in October that at least 10 cities had expressed interest in launching an expansion team.""We're not in a huge rush. We'd like to bring it in '27 or no later than '28,"" Engelbert said at the time in regard to adding a 16th team.Cleveland, Kansas City, Philadelphia, St. Louis, Houston, Austin, Nashville and Milwaukee are among the locations seeking to bring women's professional basketball to their cities.",CNBC,31/01/2025,"['As cities across the country vie for the next Women\'s National Basketball Association team, the league quietly filed a trademark application this week for the name ""Detroit Shock.', '""The filing, dated Thursday, notes the intended use is for a basketball team, merchandise, jerseys and in-arena signage that could appear on TV or radio broadcasts.', ""It could offer clues into the league's ultimate decision for the location of a new franchise."", 'On Friday, Detroit Pistons owner Tom Gores submitted a bid for the Motor City to host a new team.', 'The ownership group would be led by Gores and also includes Detroit Lions principal owner and chair Sheila Ford Hamp; former Detroit Pistons stars Grant Hill and Chris Webber; General Motors CEO Mary Barra; and Detroit Lions quarterback Jared Goff.', '""Detroit is a sports town that loves its teams deeply and consistently shows up with unwavering passion,"" Gores said in a statement.', ""The WNBA and Detroit Pistons did not immediately respond to CNBC's request for comment on the trademark application."", ""The new trademark application by the WNBA is the only submission from the professional women's basketball league since early December, according to Josh Gerben, a trademark attorney at Gerben IP, who is not involved with the specific filing."", ""Unlike other professional sports leagues where individual teams own their own trademark filings, the WNBA holds the rights to all names and logos for the league's franchises, according to Gerben."", '""Circumstantial evidence would be that [Detroit\'s] is a winning bid and they\'re very much planning on getting this going to have filed that trademark application,"" Gerben told CNBC.However, Gerben said the filing could also be a way for the league to protect itself against ""squatters"" or others trying to use the name.', 'Another trademark application was filed for the ""Detroit Shock"" by an individual named Ryan Reed in July 2023, but that trademark has yet to be approved.', ""A person with the same name, purportedly based in Detroit, identifies as the founder of a women's basketball league on LinkedIn."", 'The Detroit Shock were a WNBA team based in Auburn Hills, Michigan, from 1998 to 2009.', 'The team won three WNBA Championships in 2003, 2006 and 2008.', 'In 2009, the franchise moved to Tulsa, Oklahoma, where they played until 2015.', 'Today, they play in Arlington, Texas, as the Dallas Wings.', 'WNBA Commissioner Cathy Engelbert said at the WNBA Finals in October that at least 10 cities had expressed interest in launching an expansion team.', '""We\'re not in a huge rush.', 'We\'d like to bring it in \'27 or no later than \'28,"" Engelbert said at the time in regard to adding a 16th team.', ""Cleveland, Kansas City, Philadelphia, St. Louis, Houston, Austin, Nashville and Milwaukee are among the locations seeking to bring women's professional basketball to their cities.""]",0.1643768096009547,"The team won three WNBA Championships in 2003, 2006 and 2008.","As cities across the country vie for the next Women's National Basketball Association team, the league quietly filed a trademark application this week for the name ""Detroit Shock.",0.9991536140441896,"""Circumstantial evidence would be that [Detroit's] is a winning bid and they're very much planning on getting this going to have filed that trademark application,"" Gerben told CNBC.However, Gerben said the filing could also be a way for the league to protect itself against ""squatters"" or others trying to use the name.",,2025-02-03
+Elon Musk's X begins its push into financial services with Visa deal,https://www.cnbc.com/2025/01/28/elon-musk-x-visa-digital-wallet.html,2025-01-28T19:07:10+0000,"In this articleElon Musk's social media platform X on Tuesday announced the launch of a digital wallet and peer-to-peer payments services provided by Visa.X struck a deal with Visa, the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account, CEO Linda Yaccarino announced in a post on the platform.Visa will enable X users to move funds between traditional bank accounts and their digital wallet and make instant peer-to-peer payments, Yaccarino said, like with Zelle or Venmo.It's the first concrete move from X to create a financial ecosystem for the social media site, which was called Twitter before Musk purchased it in 2022. At the time, Musk, who's also CEO of Tesla, said the $44 billion acquisition was a way to create an ""everything app."" He later said the platform would enable users to conduct their ""entire financial world"" on it.In 2021 while Jack Dorsey was at the helm of Twitter, the company launched a bitcoin tipping feature that allowed users to add their crypto wallet addresses and receive payments in the world's largest digital token.But attaining status as a money service business in the U.S. required navigating a far more complex regulatory landscape.For over a year, Musk has been applying for these licenses for X. According to its website, X Payments LLC is licensed in 41 states and registered with the Financial Crimes Enforcement Network, or FinCEN.The X Money service is expected to launch in the first quarter, and deals with more financial partners are likely, according to a person with knowledge of the situation.One of the first use cases for X Money is to allow creators on the site to accept payments and store funds without external institutions, said this person, who spoke on the condition of anonymity to discuss internal matters.In November 2022, Musk suggested to the platform's advertisers in a meeting publicly broadcast on Spaces that its coming payments product might ultimately offer certain banking features, such as a high-yield money market account.Representatives of Visa declined to comment on the matter.",CNBC,28/01/2025,"[""In this articleElon Musk'ssocial media platform X on Tuesday announced the launch of a digital wallet and peer-to-peer payments services provided by Visa."", 'X struck a deal with Visa, the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account, CEO Linda Yaccarino announced in a post on the platform.', 'Visa will enable X users to move funds between traditional bank accounts and their digital wallet and make instant peer-to-peer payments, Yaccarino said, like with Zelle or Venmo.', ""It's the first concrete move from X to create a financial ecosystem for the social media site, which was called Twitter before Musk purchased it in 2022."", 'At the time, Musk, who\'s also CEO of Tesla, said the $44 billion acquisition was a way to create an ""everything app.""', 'He later said the platform would enable users to conduct their ""entire financial world"" on it.', ""In 2021 while Jack Dorsey was at the helm of Twitter, the company launched a bitcoin tipping feature that allowed users to add their crypto wallet addresses and receive payments in the world's largest digital token."", 'But attaining status as a money service business in the U.S. required navigating a far more complex regulatory landscape.', 'For over a year, Musk has been applying for these licenses for X. According to its website, X Payments LLC is licensed in 41 states and registered with the Financial Crimes Enforcement Network, or FinCEN.The X Money service is expected to launch in the first quarter, and deals with more financial partners are likely, according to a person with knowledge of the situation.', 'One of the first use cases for X Money is to allow creators on the site to accept payments and store funds without external institutions, said this person, who spoke on the condition of anonymity to discuss internal matters.', ""In November 2022, Musk suggested to the platform's advertisers in a meeting publicly broadcast on Spaces that its coming payments product might ultimately offer certain banking features, such as a high-yield money market account."", 'Representatives of Visa declined to comment on the matter.']",0.1704256576963926,"One of the first use cases for X Money is to allow creators on the site to accept payments and store funds without external institutions, said this person, who spoke on the condition of anonymity to discuss internal matters.",,0.999309778213501,"X struck a deal with Visa, the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account, CEO Linda Yaccarino announced in a post on the platform.",,2025-02-03
+"Starbucks earnings top estimates, but same-store sales decline for fourth straight quarter",https://www.cnbc.com/2025/01/28/starbucks-sbux-q1-2025-earnings.html,2025-01-29T15:36:22+0000,"In this articleStarbucks on Tuesday reported that its same-store sales slid for the fourth consecutive quarter, but the company's quarterly earnings and revenue beat Wall Street's expectations.The coffee giant kicked off a turnaround plan last quarter in the hopes of reviving its U.S. business, which has slumped over the past year.""While we have room for improvement, we're making progress as planned, and have confidence we're on the right track,"" CEO Brian Niccol said in a video released on the company's website Tuesday afternoon.He added that the company has seen a ""positive response"" to the early steps it has taken. Those tweaks have included removing extra charges for nondairy milk options, focusing its marketing on its coffee and slashing 30% of its food and beverage menu items by the end of fiscal 2025.Here is what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Starbucks reported fiscal first-quarter net income attributable to the company of $780.8 million, or 69 cents per share, down from $1.02 billion, or 90 cents per share, a year earlier.The company's net sales of $9.4 billion were unchanged from a year earlier.Starbucks' same-store sales fell 4%, fueled by a 6% decline in traffic to its stores. Wall Street was expecting a steeper drop of 5.5%, according to StreetAccount estimates. Both its U.S. and international locations outperformed expectations.U.S. same-store sales slid 4% as traffic to its cafes fell 8%. Under Niccol, who took the reins in September, the company has been trying to turn around its U.S. business by getting ""back to Starbucks"" and returning its focus to coffee and the customer experience.Starbucks has also been cutting back on deals, so its discounted transactions fell 40% during the quarter. Niccol credited the pullback in discounts for the chain's sales improvement throughout the quarter.Outside of its home market, same-store sales also declined 4%.Starbucks' same-store sales in China, its second-largest market, fell 6%, fueled by a 4% decline in average ticket. The coffee giant has been leaning into discounts in China to compete with rivals that have much lower prices, such as Luckin Coffee.Niccol said he made his first visit to stores in China last week. The company is exploring strategic partnerships to grow its business in the country.""We're processing these learnings, and we will share more as we do,"" he told analysts on the company's conference call.In October, the company suspended its forecast for fiscal 2025, citing the turnaround efforts. On Tuesday's call, executives also backed away from a target of $4 billion in supply-chain cost savings by 2028; Niccol's predecessor Laxman Narasimhan had shared that number in April 2024, just as sales began to shrink and months before he was out of the job.Starbucks is also planning fewer new locations and renovations in fiscal 2025 to free up capital to fuel its comeback. However, Niccol sees strong demand for more cafes in the long term.""In the U.S. alone, we still see the potential to double our store count, while improving the overall health of our portfolio. We'll do this through a strong store renovation program, new store builds, and store closures,"" Niccol said.The company is also trying to improve its speed of service by scheduling more workers, removing bottlenecks behind its coffee counters and making baristas' jobs easier.For example, Starbucks plans to prioritize installing its Siren equipment in its busiest locations, Niccol said. The new equipment includes a custom ice dispenser, milk-dispensing system and faster blenders so baristas can make drinks more quickly.Starbucks is also piloting a new algorithm to manage the order that baristas should make both mobile and in-store drinks. If successful, the algorithm could solve Starbucks' overcrowded pick-up counters that cause frustration for both customers and baristas.Niccol also has plans for Starbucks' corporate workforce. He has been reorganizing the company's structure, including splitting the role of North American president into two jobs. Earlier on Tuesday, the company announced it has hired two alumni from Taco Bell, Niccol's employer prior to Chipotle.In early March, the company is planning to lay off workers, although Starbucks has not yet shared how many jobs will be affected.",CNBC,29/01/2025,"[""In this articleStarbucks on Tuesday reported that its same-store sales slid for the fourth consecutive quarter, but the company's quarterly earnings and revenue beat Wall Street's expectations."", 'The coffee giant kicked off a turnaround plan last quarter in the hopes of reviving its U.S. business, which hasslumpedover the past year.', '""While we have room for improvement, we\'re making progress as planned, and have confidence we\'re on the right track,"" CEO Brian Niccol said in a video released on the company\'s website Tuesday afternoon.', 'He added that the company has seen a ""positive response"" to the early steps it has taken.', 'Those tweaks have included removing extra charges for nondairy milk options, focusing its marketing on its coffee and slashing 30% of its food and beverage menu items by the end of fiscal 2025.Here is what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Starbucks reported fiscal first-quarter net income attributable to the company of $780.8 million, or 69 cents per share, down from $1.02 billion, or 90 cents per share, a year earlier.', ""The company's net salesof $9.4 billion were unchanged from a year earlier."", ""Starbucks' same-store sales fell 4%, fueled by a 6% decline in traffic to its stores."", 'Wall Street was expecting a steeper drop of 5.5%, according to StreetAccount estimates.', 'Bothits U.S. and international locations outperformed expectations.', 'U.S. same-store sales slid 4% as traffic to its cafes fell 8%.', 'Under Niccol, who took the reins in September, the company has been trying to turn around its U.S. business by getting ""back to Starbucks"" and returning its focus to coffee and the customer experience.', 'Starbucks has also been cutting back on deals, so its discounted transactions fell 40% during the quarter.', ""Niccol credited the pullback in discounts for the chain's sales improvement throughout the quarter."", ""Outside of its home market, same-store sales also declined 4%.Starbucks' same-store sales in China, its second-largest market, fell 6%, fueled by a 4% decline in average ticket."", 'The coffee giant has been leaning into discounts in China to compete with rivals that have much lower prices, such as Luckin Coffee.', 'Niccol said he made his first visit to stores in China last week.', 'The company is exploring strategic partnerships to grow its business in the country.', '""We\'re processing these learnings, and we will share more as we do,"" he told analysts on the company\'s conference call.', 'In October, the company suspended its forecast for fiscal 2025, citing the turnaround efforts.', ""On Tuesday's call, executives also backed away from a target of $4 billion in supply-chain cost savings by 2028; Niccol's predecessor Laxman Narasimhan had shared that number in April 2024, just as sales began to shrink and months before he was out of the job."", 'Starbucks is also planning fewer new locations and renovations in fiscal 2025 to free up capital to fuel its comeback.', 'However, Niccol sees strong demand for more cafes in the long term.', '""In the U.S. alone, we still see the potential to double our store count, while improving the overall health of our portfolio.', 'We\'ll do this through a strong store renovation program, new store builds, and store closures,"" Niccol said.', ""The company is also trying to improve its speed of service by scheduling more workers, removing bottlenecks behind its coffee counters and making baristas' jobs easier."", 'For example, Starbucks plans to prioritize installing its Siren equipment in its busiest locations, Niccol said.', 'The new equipment includes a custom ice dispenser, milk-dispensing system and faster blenders so baristas can make drinks more quickly.', 'Starbucks is also piloting a new algorithm to manage the order that baristas should make both mobile and in-store drinks.', ""If successful, the algorithm could solve Starbucks' overcrowded pick-up counters that cause frustration for both customers and baristas."", ""Niccol also has plans for Starbucks' corporate workforce."", ""He has been reorganizing the company's structure, including splitting the role of North American president into two jobs."", ""Earlier on Tuesday, the company announced it has hired two alumni from Taco Bell, Niccol's employer prior to Chipotle."", 'In early March, the company is planning to lay off workers, although Starbucks has not yet shared how many jobs will be affected.']",0.1369357205579486,"""While we have room for improvement, we're making progress as planned, and have confidence we're on the right track,"" CEO Brian Niccol said in a video released on the company's website Tuesday afternoon.","In October, the company suspended its forecast for fiscal 2025, citing the turnaround efforts.",0.2201510667800903,"""In the U.S. alone, we still see the potential to double our store count, while improving the overall health of our portfolio.",U.S. same-store sales slid 4% as traffic to its cafes fell 8%.,2025-02-03
+Boeing is working with Elon Musk to deliver Air Force One replacements sooner,https://www.cnbc.com/2025/01/28/elon-musk-boeing-air-force-one-replacements.html,2025-01-28T18:13:28+0000,"In this articleBoeing is working with Trump advisor Elon Musk on ways to deliver delayed, overbudget Air Force One replacements sooner, CEO Kelly Ortberg said Tuesday.The pair of Boeing 747s that will serve as the next Air Force One aircraft are more than $2 billion over budget and years late, which the company has attributed to design changes, labor constraints and supply chain problems. President Donald Trump struck a deal for the aircraft during his first term, after threatening to ""cancel order!"" before he took office in 2017, complaining about high costs.""We've been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC's Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.It is not clear whether the aircraft will be delivered before Trump's current term is up. An Air Force spokesperson told CNBC that an updated delivery schedule from Boeing is expected in the spring.Trump cut a cake adorned with a model of Air Force One — in a new paint scheme — with a sword at his Jan. 20 inaugural ball.Musk, whose company SpaceX competes with Boeing's space unit, has worked closely with Trump in recent months. The billionaire is also heading Trump's commission that he tasked with reducing government spending.Musk and the White House didn't immediately comment.""The president wants those planes sooner so we're working with Elon to see what can we do to pull up the schedule of those programs,"" Ortberg said.Boeing in the last quarter took $1.7 billion in pretax charges in its defense and space unit, including for the Air Force One program. Ortberg, who became CEO in August, replaced the head of that business in September with an internal, interim leader.",CNBC,28/01/2025,"['In this articleBoeing is working with Trump advisor Elon Musk on ways to deliver delayed, overbudget Air Force One replacements sooner, CEO Kelly Ortberg said Tuesday.', 'The pair of Boeing 747s that will serve as the next Air Force One aircraft are more than $2 billion over budget and years late, which the company has attributed to design changes, labor constraints and supply chain problems.', 'President Donald Trump struck a deal for the aircraft during his first term, after threatening to ""cancel order!""', 'before he took office in 2017, complaining about high costs.', '""We\'ve been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC\'s Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.', ""It is not clear whether the aircraft will be delivered before Trump's current term is up."", 'An Air Force spokesperson told CNBC that an updated delivery schedule from Boeing is expected in the spring.', 'Trump cut a cake adorned with a model of Air Force One — in a new paint scheme — with a sword at his Jan. 20 inaugural ball.', ""Musk, whose company SpaceX competes with Boeing's space unit, has worked closely with Trump in recent months."", ""The billionaire is also heading Trump's commission that he tasked with reducing government spending."", ""Musk and the White House didn't immediately comment."", '""The president wants those planes sooner so we\'re working with Elon to see what can we do to pull up the schedule of those programs,"" Ortberg said.', 'Boeing in the last quarter took $1.7 billion in pretax charges in its defense and space unit, including for the Air Force One program.', 'Ortberg, who became CEO in August, replaced the head of that business in September with an internal, interim leader.']",-0.123036761516436,"""We've been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC's Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.","President Donald Trump struck a deal for the aircraft during his first term, after threatening to ""cancel order!""",0.3317801157633464,"""We've been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC's Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.","The pair of Boeing 747s that will serve as the next Air Force One aircraft are more than $2 billion over budget and years late, which the company has attributed to design changes, labor constraints and supply chain problems.",2025-02-03
+Trump’s 25% tariffs on Mexico and Canada to challenge the global auto industry,https://www.cnbc.com/2025/01/31/trumps-25percent-tariffs-this-is-whats-at-stake-for-us-auto-industry.html,2025-02-02T01:48:18+0000,"DETROIT — Tariffs announced Saturday by the Trump administration of 25% on goods from Canada and Mexico as well as an additional 10% on products from China are expected to have a profound impact on the global automotive industry.For months, automakers have been taking a ""wait-and-see"" approach to the Trump administration's tariff threat. That waiting period is coming to an end and automakers will likely need to implement prior contingency plans to attempt to offset additional costs in the coming weeks and months.Depending on the details, the tariffs on Mexico could have the greatest impact on the automotive industry, followed by Canada and then China, depending on the automaker.""Any tariff action must be followed with a renegotiation of the [United States-Mexico-Canada Agreement], and a full review of the corporate trade regime that has devastated the American and global working class,"" Shawn Fain, president of the United Auto Workers Union, said in a statement.General Motors and other major automakers did not immediately respond for comment regarding the tariffs Saturday night. Others such as Ford declined to comment, while Honda issued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.""Most major automakers have factories in the U.S. However, they still rely heavily on imports from other countries including Mexico to meet American consumer demand.Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.A tariff is a tax on imports, or foreign goods, brought into the United States. The companies importing the goods pay the tariffs, and some fear the companies would simply pass any additional costs on to consumers — raising the cost of vehicles and potentially reducing demand.The formal announcement provides some clarity for companies but could cost automakers, many of which have produced vehicles without tariffs in Canada and Mexico for decades, billions of dollars.Uncertainty about trade took a toll on GM on Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter. ""Our key take from GM's 4Q [earnings] result is that while the opportunity for GM is highly compelling, US policy uncertainty must be navigated for the time being,"" Barclays analyst Dan Levy said in an investor note Wednesday.GM did not account for potential tariffs in its guidance, which CFO Paul Jacobson described as a ""cautious"" approach given no duties on North American goods had been implemented yet.Both Jacobson and GM CEO Mary Barra said the company has contingency plans for any actions, but that wasn't enough to appease anxious investors.""There's just so much noise,"" Jacobson told investors Tuesday, citing the inauguration and California wildfires, among other issues and events. ""We're being cautious until we get a little bit more smooth data from the marketplace just because January was so noisy.""Tariffs could have a massive effect on the global automotive industry and potentially reduce earnings for companies such as GM, which has significant manufacturing operations across North America.""Regardless of timing, these blanket tariffs would have a massive impact on the auto industry,"" S&P Global Mobility said in a report this week. ""Virtually no [automaker] or supplier"" operating in North America would be immune, according to the report.Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.The industry is deeply integrated between the countries, with Mexico importing 49.4% of all auto parts from the U.S. In turn, Mexico exports 86.9% of its auto parts production to the U.S., according to the International Trade Administration.Wells Fargo estimates that 25% tariffs on Mexico and Canada imports would cost the traditional Detroit automaker billions of dollars a year. The firm estimates the impact of 5%, 10% and 25% tariffs on GM, Ford Motor and Chrysler parent Stellantis would collectively be $13 billion, $25 billion and $56 billion, respectively.S&P Global Mobility, formerly IHS Markit, estimates a 25% duty on a $25,000 vehicle from Canada or Mexico would add $6,250 to its cost — some if not most of which could be passed on to the consumer.S&P Mobility reports plants in Canada and Mexico produce roughly 5.3 million vehicles, with about 70% — nearly 4 million — destined for the U.S.Mexico accounted for a majority of those vehicles, as five automakers — Ford, GM, Stellantis, Toyota Motor and Honda — produced only an estimated 1.3 million light-duty vehicles in 2024 in Canada, largely for the U.S. market, according to a Canadian manufacturing nonprofit research group.Some of those automakers also heavily rely on production in Mexico, but not all producers would face the same disruptions. On a percentage of sales basis, German automaker Volkswagen is the most exposed to tariff risk in Mexico, followed by Nissan Motor and Stellantis, S&P Global Mobility reports.""We are working, obviously, on scenarios,"" Antonio Filosa, head of Stellantis' North American operations, said Jan. 10. ""But yes, we need to await his decisions and after the decision of Mr. Trump and his administration, we will work accordingly.""Here are the automakers that are most exposed to tariffs on vehicles imported from Mexico, based on the percentage of their U.S. sales being produced south of the border:",CNBC,02/02/2025,"['DETROIT —Tariffsannounced Saturday by the Trump administration of 25% on goods from Canada and Mexico as well as an additional 10% on products from China are expected to have a profound impact on the global automotive industry.', 'For months, automakers have been taking a""wait-and-see"" approachto the Trump administration\'s tariff threat.', 'That waiting period is coming to an end and automakers will likely need to implement prior contingency plans to attempt to offset additional costs in the coming weeks and months.', 'Depending on the details, the tariffs on Mexico could have the greatest impact on the automotive industry, followed by Canada and then China, depending on the automaker.', '""Any tariff action must be followed with a renegotiation of the [United States-Mexico-Canada Agreement], and a full review of the corporate trade regime that has devastated the American and global working class,"" Shawn Fain, president of the United Auto Workers Union, said in a statement.', 'General Motors and other major automakers did not immediately respond for comment regarding the tariffs Saturday night.', 'Others such as Ford declined to comment, whileHondaissued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.', '""Most major automakers have factories in the U.S. However, they still rely heavily on imports from other countries including Mexico to meet American consumer demand.', 'Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.A tariff is a tax on imports, or foreign goods, brought into the United States.', 'The companies importing the goods pay the tariffs, and some fear the companies would simply pass any additional costs on to consumers — raising the cost of vehicles and potentially reducing demand.', 'The formal announcement provides some clarity for companies but could cost automakers, many of which have produced vehicles without tariffs in Canada and Mexico for decades, billions of dollars.', ""Uncertainty about tradetook a toll on GMon Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter."", '""Our key take from GM\'s 4Q [earnings] result is that while the opportunity for GM is highly compelling, US policy uncertainty must be navigated for the time being,"" Barclays analyst Dan Levy said in an investor note Wednesday.', 'GM did not account for potential tariffs in its guidance, which CFO Paul Jacobson described as a ""cautious"" approach given no duties on North American goods had been implemented yet.', ""Both Jacobson and GM CEO Mary Barra said the company has contingency plans for any actions, but that wasn't enough to appease anxious investors."", '""There\'s just so much noise,"" Jacobson told investors Tuesday, citing the inauguration and California wildfires, among other issues and events. ""', ""We're being cautious until we get a little bit more smooth data from the marketplace just because January was so noisy."", '""Tariffs could have a massive effect on the global automotive industry and potentially reduce earnings for companies such as GM, which has significant manufacturing operations across North America.', '""Regardless of timing, these blanket tariffs would have a massive impact on the auto industry,"" S&P Global Mobility said in a report this week. ""', 'Virtually no [automaker] or supplier"" operating in North America would be immune, according to the report.', 'Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.The industry is deeply integrated between the countries, with Mexico importing 49.4% of all auto parts from the U.S. In turn, Mexico exports 86.9% of its auto parts production to the U.S., according to the International Trade Administration.', 'Wells Fargo estimates that 25% tariffs on Mexico and Canada imports would cost the traditional Detroit automaker billions of dollars a year.', 'The firm estimates the impact of 5%, 10% and 25% tariffs on GM, Ford Motor and Chrysler parent Stellantis would collectively be $13 billion, $25 billion and $56 billion, respectively.', 'S&P Global Mobility, formerly IHS Markit, estimates a 25% duty on a $25,000 vehicle from Canada or Mexico would add $6,250 to its cost — some if not most of which could be passed on to the consumer.', 'S&P Mobility reports plants in Canada and Mexico produce roughly 5.3 million vehicles, with about 70% — nearly 4 million — destined for the U.S.Mexico accounted for a majority of those vehicles, as five automakers— Ford, GM, Stellantis, Toyota Motor and Honda — produced onlyan estimated 1.3 million light-duty vehicles in 2024 in Canada, largely for the U.S. market, according to a Canadian manufacturing nonprofit research group.', 'Some of those automakers also heavily rely on production in Mexico, but not all producers would face the same disruptions.', 'On a percentage of sales basis, German automaker Volkswagen is the most exposed to tariff risk in Mexico, followed by Nissan Motor and Stellantis, S&P Global Mobility reports.', '""We are working, obviously, on scenarios,"" Antonio Filosa, head of Stellantis\' North American operations, said Jan. 10. ""', 'But yes, we need to await his decisions and after the decision of Mr. Trump and his administration, we will work accordingly.', '""Here are the automakers that are most exposed to tariffs on vehicles imported from Mexico, based on the percentage of their U.S. sales being produced south of the border:']",0.0148970696232496,"Others such as Ford declined to comment, whileHondaissued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.","Uncertainty about tradetook a toll on GMon Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter.",-0.4111230854804699,"Others such as Ford declined to comment, whileHondaissued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.","Uncertainty about tradetook a toll on GMon Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter.",2025-02-03
+Planet lands $230 million contract for Pelican imagery satellites,https://www.cnbc.com/2025/01/29/planet-lands-230-million-contract-for-pelican-imagery-satellites.html,2025-01-29T21:23:41+0000,"In this articleSatellite imagery and data analysis company Planet announced it had signed a $230 million contract on Wednesday, with an anchor customer furthering the rollout of its next-generation Pelican satellites.""It is a momentum-building event. … It's both our biggest deal ever and it's a significant step for us into this satellite services business,"" Planet CEO Will Marshall told CNBC.Planet's deal will see it build Pelican satellites in service to a company in the Asia-Pacific region. Planet said the customer will be identified at a later date, but described the company as a long-standing partner. Marshall said the contract covers ""a couple of years to construct"" the satellites ""and then five years of operation.""""They get dedicated access to the satellites that we're launching for them within their [area of interest] in Asia, and then for the rest of the world, we get to license that data,"" Marshall said.While the deal does not change Planet's previous guidance for its fiscal 2025 fourth-quarter results, the company expects to begin seeing benefits to its balance sheet in fiscal 2026, with payments for building the satellites and providing services to be recognized over about seven years.Planet, which operates more than 200 satellites in orbit, in 2021 unveiled its plans for the more high-powered line of Pelican satellites. Intended to replace the SkySat satellites acquired from Google in 2017, Planet aims to deploy a constellation of as many as 32 Pelican satellites. The company launched its first operational satellite for the constellation, Pelican-2, earlier this month, with the spacecraft notably featuring Nvidia's Jetson edge artificial intelligence platform for improved data processing.""We only had financials to specifically build a subset of [those 32 Pelican satellites], and now we've got the financials to build more, and so we're scaling much faster,"" Marshall said.Shares of Planet rose as much as 14% in trading Wednesday before giving up early gains to end the day 1.65% higher. Planet late Tuesday announced a multiyear contract worth an unspecified amount with the European Space Agency.Additionally, Marshall said the Pelican deal represents Planet's entrance into the satellite services market, effectively selling its spacecraft as an adaptable base to specific customers. It is a market that Planet first dipped into with its Tanager satellite product line, the first of which it built and deployed for the nonprofit group Carbon Mapper.""These customers are often customers we've been working with for years, so they already know and trust our data and our ability to execute. They know we've got a vertically integrated stack of tech, so they know we can deliver satellites in space that work and operate,"" Marshall said.""It's synergistic with our data business,"" he added.Planet went public in 2021 amid the SPAC boom. Similar to other space companies that went public at that time, Planet's stock slid steadily in the years following — with company shares getting hit amid missed revenue targets and workforce layoffs — before bouncing back in 2024.While it lags top-performing space pure-play stocks over the past year, Planet shares have more than doubled over the past 12 months, according to FactSet data.",CNBC,29/01/2025,"['In this articleSatellite imagery and data analysis company Planet announced it had signed a $230 million contract on Wednesday, with an anchor customer furthering the rollout of its next-generation Pelican satellites.', '""It is a momentum-building event. …', 'It\'s both our biggest deal ever and it\'s a significant step for us into this satellite services business,"" Planet CEO Will Marshall told CNBC.Planet\'s deal will see it build Pelican satellites in service to a company in the Asia-Pacific region.', 'Planet said the customer will be identified at a later date, but described the company as a long-standing partner.', 'Marshall said the contract covers ""a couple of years to construct"" the satellites ""and then five years of operation.', '""""They get dedicated access to the satellites that we\'re launching for them within their [area of interest] in Asia, and then for the rest of the world, we get to license that data,"" Marshall said.', ""While the deal does not change Planet's previous guidance for its fiscal 2025 fourth-quarter results, the company expects to begin seeing benefits to its balance sheet in fiscal 2026, with payments for building the satellites and providing services to be recognized over about seven years."", 'Planet, which operates more than 200 satellites in orbit, in 2021 unveiled its plans for the more high-powered line of Pelican satellites.', 'Intended to replace the SkySat satellites acquired from Google in 2017, Planet aims to deploy a constellation of as many as 32 Pelican satellites.', ""The company launched its first operational satellite for the constellation, Pelican-2, earlier this month, with the spacecraft notably featuring Nvidia's Jetson edge artificial intelligence platform for improved data processing."", '""We only had financials to specifically build a subset of [those 32 Pelican satellites], and now we\'ve got the financials to build more, and so we\'re scaling much faster,"" Marshall said.', 'Shares of Planet rose as much as 14% in trading Wednesday before giving up early gains to end the day 1.65% higher.', 'Planet late Tuesday announced a multiyear contract worth an unspecified amount with the European Space Agency.', ""Additionally, Marshall said the Pelican deal represents Planet's entrance into the satellite services market, effectively selling its spacecraft as an adaptable base to specific customers."", 'It is a market that Planet first dipped into with its Tanager satellite product line, the first of which it built and deployed for the nonprofit group Carbon Mapper.', '""These customers are often customers we\'ve been working with for years, so they already know and trust our data and our ability to execute.', 'They know we\'ve got a vertically integrated stack of tech, so they know we can deliver satellites in space that work and operate,"" Marshall said.', '""It\'s synergistic with our data business,"" he added.', 'Planet went public in 2021 amid the SPAC boom.', ""Similar to other space companies that went public at that time, Planet's stock slid steadily in the years following — with company shares getting hit amid missed revenue targets and workforce layoffs — before bouncing back in 2024.While it lags top-performing space pure-play stocks over the past year, Planet shares have more than doubled over the past 12 months, according to FactSet data.""]",0.2290362556712767,"The company launched its first operational satellite for the constellation, Pelican-2, earlier this month, with the spacecraft notably featuring Nvidia's Jetson edge artificial intelligence platform for improved data processing.",,0.7495498731732368,"While the deal does not change Planet's previous guidance for its fiscal 2025 fourth-quarter results, the company expects to begin seeing benefits to its balance sheet in fiscal 2026, with payments for building the satellites and providing services to be recognized over about seven years.","Similar to other space companies that went public at that time, Planet's stock slid steadily in the years following — with company shares getting hit amid missed revenue targets and workforce layoffs — before bouncing back in 2024.While it lags top-performing space pure-play stocks over the past year, Planet shares have more than doubled over the past 12 months, according to FactSet data.",2025-02-03
+Major League Table Tennis signs first media deal with CBS Sports,https://www.cnbc.com/2025/01/29/major-league-table-tennis-signs-first-media-deal-with-cbs-sports-.html,2025-01-29T21:12:55+0000,"Major League Table Tennis is going primetime.The pro table tennis league that got its start in 2023 by software entrepreneur Flint Lane has signed its first-ever national television deal with CBS Sports, the league announced Wednesday. This comes as table tennis has seen a resurgence in popularity and as broadcasters are hungry for sports content.Terms of the deal were not disclosed, but CBS Sports Network will air MLTT matches, exclusive highlights, player profiles and behind-the-scenes features throughout the season beginning Sunday at 8 p.m. ET.""This partnership with CBS Sports is a defining milestone for Major League Table Tennis,"" Lane, founder and commissioner of MLTT, told CNBC. ""It's a testament to the league's energy, talent and growing appeal that captivates audiences. We're excited to bring professional table tennis to millions of homes.""MLTT said it's one of America's fastest-growing sports on digital and social platforms and that its viewership on YouTube grew more than 1,200% from its first season into its second season. MLTT also noted that table tennis is the sixth most popular sport in the world with 850 million fans, according to the World Atlas.MLTT currently has eight teams from cities across the U.S. The teams compete against each other during weekend matches.The league has raised about $10 million in capital, Flint said, with investment from names like David Blitzer, owner of Harris Blitzer Sports & Entertainment, which owns the Washington Commanders and Philadelphia 76ers, and Daryl Morey, president of the Philadelphia 76ers.Former San Antonio Spurs star Manu Ginóbili is a minority team owner in MLTT team the Florida Crocs.""Table tennis is considered a basement sport in America,"" Flint said. ""Throughout Europe, there are professional leagues, but we've never had a professional league in this country, so it gives us more credibility.""Flint said the sport got a boost at the Paris Olympics, where for the first time ever two Americans made it to the round of 16. One of those players, Lily Zhang, plays for MLTT.The sport also got some buzz during the Olympics when Golden State Warriors Star Stephen Curry met the USA Table Tennis team at opening ceremonies and later invited them to sit courtside at a game.While MLTT hasn't yet been approved for sports betting, betting on table tennis gained traction during the coronavirus pandemic when many sports were shuttered. In some states like Oregon, table tennis is one of the top sports for betting due to its fast pace and rapidly changing odds.Flint said now that the league has locked in a television deal, it will focus on selling two expansion teams and increasing the sport's presence at the grassroots level.Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.Correction: This article has been updated to correct the spelling of Lily Zhang's name.",CNBC,29/01/2025,"['Major League Table Tennis is going primetime.', 'The pro table tennis league that got its start in 2023 by software entrepreneur Flint Lane has signed its first-ever national television deal with CBS Sports, the league announced Wednesday.', 'This comes as table tennis has seen a resurgence in popularity and as broadcasters are hungry for sports content.', 'Terms of the deal were not disclosed, but CBS Sports Network will air MLTT matches, exclusive highlights, player profiles and behind-the-scenes features throughout the season beginning Sunday at 8 p.m. ET.""This partnership with CBS Sports is a defining milestone for Major League Table Tennis,"" Lane, founder and commissioner of MLTT, told CNBC. ""', ""It's a testament to the league's energy, talent and growing appeal that captivates audiences."", ""We're excited to bring professional table tennis to millions of homes."", '""MLTT said it\'s one of America\'s fastest-growing sports on digital and social platforms and that its viewership on YouTube grew more than 1,200% from its first season into its second season.', 'MLTT also noted that table tennis is the sixth most popular sport in the world with 850 million fans, according to the World Atlas.', 'MLTT currently has eight teams from cities across the U.S. The teams compete against each other during weekend matches.', 'The league has raised about $10 million in capital, Flint said, with investment from names like David Blitzer, owner of Harris Blitzer Sports & Entertainment, which owns the Washington Commanders and Philadelphia 76ers, and Daryl Morey, president of the Philadelphia 76ers.', 'Former San Antonio Spurs star Manu Ginóbili is a minority team owner in MLTT team the Florida Crocs.', '""Table tennis is considered a basement sport in America,"" Flint said. ""', ""Throughout Europe, there are professional leagues, but we've never had a professional league in this country, so it gives us more credibility."", '""Flint said the sport got a boost at the Paris Olympics, where for the first time ever two Americans made it to the round of 16.', 'One of those players, Lily Zhang, plays for MLTT.The sport also got some buzz during the Olympics when Golden State Warriors Star Stephen Curry met the USA Table Tennis team at opening ceremonies and later invited them to sit courtside at a game.', ""While MLTT hasn't yet been approved for sports betting, betting on table tennis gained traction during the coronavirus pandemic when many sports were shuttered."", 'In some states like Oregon, table tennis is one of the top sports for betting due to its fast pace and rapidly changing odds.', ""Flint said now that the league has locked in a television deal, it will focus on selling two expansion teams and increasing the sport's presence at the grassroots level."", 'Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics.', ""NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.Correction: This article has been updated to correct the spelling of Lily Zhang's name.""]",0.2405824420060003,"It's a testament to the league's energy, talent and growing appeal that captivates audiences.",,0.9819360321218316,"""MLTT said it's one of America's fastest-growing sports on digital and social platforms and that its viewership on YouTube grew more than 1,200% from its first season into its second season.",,2025-02-03
+"FDA approves Novo Nordisk's Ozempic to treat chronic kidney disease in those with diabetes, expanding its use",https://www.cnbc.com/2025/01/28/novo-nordisks-ozempic-wins-fda-approval-for-chronic-kidney-disease.html,2025-01-28T20:07:53+0000,"In this articleThe Food and Drug Administration on Tuesday approved Novo Nordisk's Ozempic to treat chronic kidney disease in patients who also have Type 2 diabetes, expanding the use of the wildly popular injection in the U.S. The drug is already widely used and covered to treat Type 2 diabetes. The FDA's decision means Ozempic can now be used to reduce the risk of kidney disease worsening, kidney failure, and death from cardiovascular disease in patients with both chronic kidney disease and diabetes.The decision could transform how doctors treat patients with chronic kidney disease, which involves a gradual loss of kidney function and is one of the leading causes of death in the U.S. Around 37 million American adults are living with chronic kidney disease, according to Novo Nordisk.Diabetes is a key risk factor for kidney disease. Roughly 40% of Type 2 diabetes patients have the condition, which can cause additional sickness such as increased risk of cardiovascular problems and death, Novo Nordisk said.""All chronic kidney disease is progressive. It's a year-on-year, relentless decline in renal function,"" Stephen Gough, Novo Nordisk's global chief medical officer, said in an interview, referring to the kidney's ability to filter waste from the blood.He noted that when the condition progresses to the point of kidney failure — also known as end-stage kidney disease — patients require long-term dialysis treatments to remove waste from the blood, or a kidney transplant. Both are burdensome, and death among patients with end-stage kidney disease is ""very high,"" particularly from cardiovascular disease, according to Gough.The approval also demonstrates that a blockbuster class of diabetes and weight loss drugs called GLP-1s have significant health benefits beyond regulating blood sugar and suppressing appetite. Ozempic reduced the risk of severe kidney outcomes — including kidney failure, reduction in kidney function, or death from kidney or heart causes — by 24% in diabetic patients with chronic kidney disease compared with a placebo, according to results of a late-stage trial that the approval was based on.In patients who took Ozempic, kidney function declined more slowly, the risk of major cardiovascular events such as heart attack dropped 18% and the risk of death from any cause fell 20% compared with the placebo. Ozempic also cut the risk of cardiovascular-related deaths by 29%.""We know that, unfortunately, cardiovascular disease and chronic kidney disease just go hand in hand,"" Gough said.He added that the major treatments patients typically receive when they have the earliest signs of chronic kidney disease aim to reduce cardiovascular risk factors by paying attention to blood pressure.The rate of serious adverse side effects was 49.6% in patients who took Ozempic, lower than the 53.8% seen in the group that received a placebo. There was a slightly higher rate of discontinuations among Ozempic patients due to gastrointestinal side effects commonly seen with GLP-1s, such as nausea and vomiting.EU regulators approved Ozempic for the same use in December. Novo Nordisk ended the phase three trial in October, a year earlier than expected, in response to positive results. At the time, the Danish company's announcement caused shares of kidney dialysis companies to plummet about 20% in a single day. The trial, called FLOW, started in 2019 and followed roughly 3,500 patients with diabetes and moderate to severe chronic kidney disease.""From my point of view as a doctor, you don't get [diabetes, obesity, chronic kidney disease and cardiovascular disease] in isolation,"" Gough said. ""These illnesses, unfortunately, co-segregate. They cluster within the same individuals. So if you have a medicine that can target each of these co-morbidities in one injection, then you're addressing what really matters to the patient.""The approval comes after the Biden administration selected three of Novo Nordisk's drugs with the active ingredient semaglutide for the second cycle of Medicare drug price negotiations. That includes Ozempic, its weight loss counterpart Wegovy and another diabetes treatment called Rybelsus.  The FDA's decision also comes as Novo Nordisk faces increased competition from Eli Lilly and tries to win expanded insurance coverage for Wegovy.Last year, Wegovy won approval in the U.S. for use in slashing the risk of major cardiovascular events such as heart attacks and strokes. Novo Nordisk is also studying Wegovy as a potential treatment for fatty liver disease.",CNBC,28/01/2025,"[""In this articleThe Food and Drug Administration on Tuesday approved Novo Nordisk's Ozempic to treat chronic kidney disease in patients who also have Type 2 diabetes, expanding the use of the wildly popular injection in the U.S.The drug is already widely used and covered to treat Type 2 diabetes."", ""The FDA's decision means Ozempic can now be used to reduce the risk of kidney disease worsening, kidney failure, and death from cardiovascular disease in patients with both chronic kidney disease and diabetes."", 'The decision could transform how doctors treat patients with chronic kidney disease, which involves a gradual loss of kidney function and is one of the leading causes of death in the U.S.Around 37 million American adults are living with chronic kidney disease, according to Novo Nordisk.', 'Diabetes is a key risk factor for kidney disease.', 'Roughly 40% of Type 2 diabetes patients have the condition, which can cause additional sickness such as increased risk of cardiovascular problems and death, Novo Nordisk said.', '""All chronic kidney disease is progressive.', 'It\'s a year-on-year, relentless decline in renal function,"" Stephen Gough, Novo Nordisk\'s global chief medical officer, said in an interview, referring to the kidney\'s ability to filter waste from the blood.', 'He noted that when the condition progresses to the point of kidney failure — also known as end-stage kidney disease — patients require long-term dialysis treatments to remove waste from the blood, or a kidney transplant.', 'Both are burdensome, and death among patients with end-stage kidney disease is ""very high,"" particularly from cardiovascular disease, according to Gough.', 'The approval also demonstrates that a blockbuster class of diabetes and weight loss drugs called GLP-1s have significant health benefits beyond regulating blood sugar and suppressing appetite.', 'Ozempic reduced the risk of severe kidney outcomes — including kidney failure, reduction in kidney function, or death from kidney or heart causes — by 24% in diabetic patients with chronic kidney disease compared with a placebo, according to results of a late-stage trial that the approval was based on.', 'In patients who took Ozempic, kidney function declined more slowly, the risk of major cardiovascular events such as heart attack dropped 18% and the risk of death from any cause fell 20% compared with the placebo.', 'Ozempic also cut the risk of cardiovascular-related deaths by 29%.""We know that, unfortunately, cardiovascular disease and chronic kidney disease just go hand in hand,"" Gough said.', 'He added that the major treatments patients typically receive when they have the earliest signs of chronic kidney disease aim to reduce cardiovascular risk factors by paying attention to blood pressure.', 'The rate of serious adverse side effects was 49.6% in patients who took Ozempic, lower than the 53.8% seen in the group that received a placebo.', 'There was a slightly higher rate of discontinuations among Ozempic patients due to gastrointestinal side effects commonly seen with GLP-1s, such as nausea and vomiting.', 'EU regulators approved Ozempic for the same use in December.', 'Novo Nordisk ended the phase three trial in October, a year earlier than expected, in response to positive results.', ""At the time, the Danish company's announcement caused shares of kidney dialysis companies to plummet about 20% in a single day."", 'The trial, called FLOW, started in 2019 and followed roughly 3,500 patients with diabetes and moderate to severe chronic kidney disease.', '""From my point of view as a doctor, you don\'t get [diabetes, obesity, chronic kidney disease and cardiovascular disease] in isolation,"" Gough said. ""', 'These illnesses, unfortunately, co-segregate.', 'They cluster within the same individuals.', ""So if you have a medicine that can target each of these co-morbidities in one injection, then you're addressing what really matters to the patient."", '""The approval comes after the Biden administration selected three of Novo Nordisk\'s drugs with the active ingredient semaglutide for the second cycle of Medicare drug price negotiations.', 'That includes Ozempic, its weight loss counterpart Wegovy and another diabetes treatment called Rybelsus.', ""The FDA's decision also comes as Novo Nordisk faces increased competition from Eli Lilly and tries to win expanded insurance coverage for Wegovy."", 'Last year, Wegovy won approval in the U.S. for use in slashing the risk of major cardiovascular events such as heart attacks and strokes.', 'Novo Nordisk is also studying Wegovy as a potential treatment for fatty liver disease.']",-0.130884842704226,"In this articleThe Food and Drug Administration on Tuesday approved Novo Nordisk's Ozempic to treat chronic kidney disease in patients who also have Type 2 diabetes, expanding the use of the wildly popular injection in the U.S.The drug is already widely used and covered to treat Type 2 diabetes.","The FDA's decision means Ozempic can now be used to reduce the risk of kidney disease worsening, kidney failure, and death from cardiovascular disease in patients with both chronic kidney disease and diabetes.",0.3085689147313435,"Last year, Wegovy won approval in the U.S. for use in slashing the risk of major cardiovascular events such as heart attacks and strokes.","At the time, the Danish company's announcement caused shares of kidney dialysis companies to plummet about 20% in a single day.",2025-02-03
+Here's what Trump’s tariff threats look like on the ground in China,https://www.cnbc.com/2025/01/31/trump-china-tariffs-manufacturers-prepare-for-higher-costs.html,2025-01-31T19:12:00+0000,"As President Donald Trump threatens to impose his first tranche of tariffs on the world Saturday, Chinese manufacturers are bracing for impact.Though Trump is proposing his biggest initial swing at Canada and Mexico with a proposed 25% tariff, the U.S. president still has China on his radar. After a report that the administration could delay at least some of the duties until March 1, the White House said Friday that Trump will follow through on plans to slap 10% tariffs on imports from China on Saturday. On the campaign trail, he threatened tariffs on Chinese-made goods of 60% or more.Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations. Even so, if Trump imposes the levies, they could raise prices for U.S. consumers on everything from furniture to electronics.In China, new duties could damage exporters who rely on the U.S. market. On a recent trip to the manufacturing belt of Guangdong province, CNBC found factory owners preparing for the tariff threat. Here are three main takeaways:Hoping to beat Trump's tariffs, furniture seller Harry Li is doubling the number of products he ships to the U.S. and stockpiling them in warehouses there.He expects the strategy will force him to raise prices as much as 10% -- no matter what Trump's tariffs turn out to be. He sells four out of five of his tables and other large furnishings to American consumers.""I have to ship them in advance and take on more risk,"" he said at his Foshan factory. His company Tianyiled plans to keep the extra inventory in the U.S. until Trump's tariff plan for China becomes clearer.In addition to stockpiling, Li is considering other ways to avoid the border taxes.""One thing we can do is to pick those products not on the tariff list and export them to the U.S. instead,"" he said. In the nearby industrial city of Guangzhou, water purifier maker Zheng Yu is scouring the globe to find a new production base to supply the U.S. outside of China.He plans to set up assembly lines in a third country, buying some equipment and components from China while hiring locally for certain jobs. Zheng's company Tesran is considering Vietnam, Malaysia, and Mexico as manufacturing bases, but is leaning toward Dubai even though costs will be 30% higher than in China.""The domestic market is too competitive. We have been wanting to jump out of it for some time,"" he said. ""Trump's tariffs gave us the final push.""The Tesran founder is also already in touch with his U.S. clients to discuss splitting the tariffs. He is hoping his partners will take on at least half of the cost.All the businesses CNBC spoke to had a breaking point at which it would no longer make sense to sell to the U.S. The tariff thresholds ranged from 20 to 60%, and depended on the industry and the size of a company's margins.Water purifier maker Zheng said another wild card is whether President Trump unleashes proposed universal tariffs that, in his case, would raise costs for Dubai. ""Then the U.S. is out,"" he said.Across Guangzhou, Leng Rong, who makes skin care products, is worried he might have to stop exporting to the U.S. completely.His goods got hit with tariffs north of 20% during Trump's first term and it caused big losses for his company, Keni.With his thin margins, Leng is hoping he can pass the cost of any tariff to his customers.""In the past, we all felt the U.S. market was the greatest market that everyone wanted to sell to. But with all the uncertainties and unfriendly decisions, the U.S. is less attractive now,"" Leng said at his Guangzhou factory. ""It's a real pity.""",CNBC,31/01/2025,"['As President Donald Trump threatens to impose his first tranche of tariffs on the world Saturday, Chinese manufacturers are bracing for impact.', 'Though Trump is proposing his biggest initial swing at Canada and Mexico with a proposed 25% tariff, the U.S. president still has China on his radar.', 'After a report that the administration could delay at least some of the duties until March 1, the White House said Friday that Trump will follow through on plans to slap 10% tariffs on imports from China on Saturday.', 'On the campaign trail, he threatened tariffs on Chinese-made goods of 60% or more.', 'Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations.', 'Even so, if Trump imposes the levies, they could raise prices for U.S. consumers on everything from furniture to electronics.', 'In China, new duties could damage exporters who rely on the U.S. market.', 'On a recent trip to the manufacturing belt of Guangdong province, CNBC found factory owners preparing for the tariff threat.', ""Here are three main takeaways:Hoping to beat Trump's tariffs, furniture seller Harry Li is doubling the number of products he ships to the U.S. and stockpiling them in warehouses there."", ""He expects the strategy will force him to raise prices as much as 10% -- no matter what Trump's tariffs turn out to be."", 'He sells four out of five of his tables and other large furnishings to American consumers.', '""I have to ship them in advance and take on more risk,"" he said at his Foshan factory.', ""His company Tianyiled plans to keep the extra inventory in the U.S. until Trump's tariff plan for China becomes clearer."", 'In addition to stockpiling, Li is considering other ways to avoid the border taxes.', '""One thing we can do is to pick those products not on the tariff list and export them to the U.S.instead,"" he said.', 'In the nearby industrial city of Guangzhou, water purifier maker Zheng Yu is scouring the globe to find a new production base to supply the U.S. outside of China.', 'He plans to set up assembly lines in a third country, buying some equipment and components from China while hiring locally for certain jobs.', ""Zheng's company Tesran is considering Vietnam, Malaysia, and Mexico as manufacturing bases, but is leaning toward Dubai even though costs will be 30% higher than in China."", '""The domestic market is too competitive.', 'We have been wanting to jump out of it for some time,"" he said. ""', ""Trump's tariffs gave us the final push."", '""The Tesran founder is also already in touch with his U.S. clients to discuss splitting the tariffs.', 'He is hoping his partners will take on at least half of the cost.', ""All the businesses CNBC spoke to had a breaking point at which it would no longer make sense to sell to the U.S. The tariff thresholds ranged from 20 to 60%, and depended on the industry and the size of a company's margins."", 'Water purifier maker Zheng said another wild card is whether President Trump unleashes proposed universal tariffs that, in his case, would raise costs for Dubai.', '""Then the U.S. is out,"" he said.', 'Across Guangzhou, Leng Rong, who makes skin care products, is worried he might have to stop exporting to the U.S. completely.', ""His goods got hit with tariffs north of 20% during Trump's first term and it causedbig losses forhis company, Keni."", 'With his thin margins, Leng is hoping he can pass the cost of any tariff to his customers.', '""In the past, we all felt the U.S. market was the greatest market that everyone wanted to sell to.', 'But with all the uncertainties and unfriendly decisions, the U.S. is less attractive now,"" Leng said at his Guangzhou factory. ""', 'It\'s a real pity.""']",-0.0509247328446116,"Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations.","As President Donald Trump threatens to impose his first tranche of tariffs on the world Saturday, Chinese manufacturers are bracing for impact.",-0.3858421146869659,"Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations.","His goods got hit with tariffs north of 20% during Trump's first term and it causedbig losses forhis company, Keni.",2025-02-03
+Pending home sales drop sharply in December as mortgage rates surge back over 7%,https://www.cnbc.com/2025/01/30/december-pending-home-sales-drop-as-mortgage-rates-surge.html,2025-01-30T17:42:21+0000,"Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors.The drop followed four straight months of gains and the index was at its lowest level since August.These so-called pending sales are an indicator of future closings and are the most current indicator of activity in the market. Buyers out shopping in December were facing a big jump in mortgage interest rates, which may have dampened demand.The average rate on the 30-year fixed mortgage went from a low of 6.68% on Dec. 6 to a high of 7.14% on Dec. 19. Realtors had been saying that buyers were getting used to a ""new normal"" of higher interest rates, but the 7% mark appears to be an emotional barrier for buyers.Sales of newly built homes, which are also based on signed contracts, saw gains in December, according to the U.S. Census, but homebuilders have been aggressively buying down mortgage rates to get customers in the door.Pending sales fell in all regions, with the West and Northeast seeing the biggest monthly drops at decreases of 8.1% and 10.3%, respectively. Those regions are where home prices are highest.""Contract activity fell more sharply in the high-priced regions of the Northeast and West, where elevated mortgage rates have appreciably cut affordability,"" said Lawrence Yun, chief economist for the National Association of Realtors. ""Job gains tend to have greater impact in more affordable regions. It is unclear if heavier-than-usual winter precipitation impacted the timing of purchases.""Prices are still stubbornly high and rising across the nation. Annual gains accelerated in late fall and early winter, according to the latest read from the S&P Case-Shiller national home price index.Homebuying demand does not appear to be bouncing back at all in January. Mortgage applications to purchase a home last week were 7% lower than they were the same week one year ago, according to the Mortgage Bankers Association.Homes are also selling at the slowest rate in five years, according to a new report from Redfin. As of the four weeks ending Jan. 26, the typical home listing that went under contract sat on the market for 54 days before the seller accepted an offer, the longest span since March 2020 and a week longer than this time last year.The weakness comes as the supply of homes for sale is finally rising significantly. The number of newly listed homes jumped just over 37% in January compared with December, according to Realtor.com.""The shift in seller activity could mark a turning point in the high mortgage rate-induced standoff between buyers and sellers,"" said Danielle Hale, chief economist at Realtor.com. ""The uptick is likely due to some residual benefit from fall's lower mortgage rates, which could fade.""",CNBC,30/01/2025,"['Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors.', 'The drop followed four straight months of gains and the index was at its lowest level since August.', 'These so-called pending sales are an indicator of future closings and are the most current indicator of activity in the market.', 'Buyers out shopping in December were facing a big jump in mortgage interest rates, which may have dampened demand.', 'The average rate on the 30-year fixed mortgage went from a low of 6.68% on Dec. 6 to a high of 7.14% on Dec. 19.', 'Realtors had been saying that buyers were getting used to a ""new normal"" of higher interest rates, but the 7% mark appears to be an emotional barrier for buyers.', 'Sales of newly built homes, which are also based on signed contracts, saw gains in December, according to the U.S. Census, but homebuilders have been aggressively buying down mortgage rates to get customers in the door.', 'Pending sales fell in all regions, with the West and Northeast seeing the biggest monthly drops at decreases of 8.1% and 10.3%, respectively.', 'Those regions are where home prices are highest.', '""Contract activity fell more sharply in the high-priced regions of the Northeast and West, where elevated mortgage rates have appreciably cut affordability,"" said Lawrence Yun, chief economist for the National Association of Realtors. ""', 'Job gains tend to have greater impact in more affordable regions.', 'It is unclear if heavier-than-usual winter precipitation impacted the timing of purchases.', '""Prices are still stubbornly high and rising across the nation.', 'Annual gains accelerated in late fall and early winter, according to the latest read from the S&P Case-Shiller national home price index.', 'Homebuying demand does not appear to be bouncing back at all in January.', 'Mortgage applications to purchase a home last week were 7% lower than they were the same week one year ago, according to the Mortgage Bankers Association.', 'Homes are also selling at the slowest rate in five years, according to a new report from Redfin.', 'As of the four weeks ending Jan. 26, the typical home listing that went under contract sat on the market for 54 days before the seller accepted an offer, the longest span since March 2020 and a week longer than this time last year.', 'The weakness comes as the supply of homes for sale is finally rising significantly.', 'The number of newly listed homes jumped just over 37% in January compared with December, according to Realtor.com.', '""The shift in seller activity could mark a turning point in the high mortgage rate-induced standoff between buyers and sellers,"" said Danielle Hale, chief economist at Realtor.com.', '""The uptick is likely due to some residual benefit from fall\'s lower mortgage rates, which could fade.""']",0.0039132363294904,Job gains tend to have greater impact in more affordable regions.,The weakness comes as the supply of homes for sale is finally rising significantly.,-0.2283051766847309,"Annual gains accelerated in late fall and early winter, according to the latest read from the S&P Case-Shiller national home price index.","Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors.",2025-02-03
+GM stock falls even as company beats analyst expectations on earnings,https://www.cnbc.com/2025/01/28/general-motors-gm-earnings-q4-2024.html,2025-01-28T21:05:29+0000,"In this articleDETROIT — General Motors stock fell more than 8% in trading Tuesday even as the company beat Wall Street's top- and bottom-line expectations for the fourth quarter, while forecasting continued strong results for 2025.Concerns of Wall Street analysts on the company's quarterly earnings call focused on the automaker's preparation for changes under the Trump administration, including the impacts of potential tariffs on vehicle production and policy changes on electric vehicle sales and pricing, signaling an overhang on the auto industry.Wall Street analysts have said there's a lack of enthusiasm by investors for the U.S. automotive industry amid a slowdown in electric vehicles and autonomous vehicles, as well as regulatory volatility.The Detroit automaker believes it can have another solid year despite industry sales slowing, a restructuring of its operations in China, and increased geopolitical and regulatory uncertainty in the U.S. as President Donald Trump begins his second term. GM's 2025 guidance includes net income attributable to stockholders of $11.2 billion to $12.5 billion, or $11 to $12 in earnings per share; adjusted earnings before interest and taxes (EBIT) of $13.7 billion to $15.7 billion, or $11 to $12 adjusted EPS; and adjusted automotive free cash flow between $11 billion and $13 billion.""In our view, the guidance for 2025 leaves no room for errors, and also does not include impact from regulatory changes in the U.S., especially on tariffs and BEV support,"" analysts at Bernstein said in a note.GM's 2025 financial guidance met or exceeded many forecasts from Wall Street analysts. Most notably, analysts were expecting adjusted earnings of around $14 billion.That compares with the automaker's 2024 results of adjusted EBIT of $14.9 billion, or $10.60 adjusted EPS, and net income attributable to stockholders of $6 billion, or $6.37 EPS. The adjusted figures and the $14 billion in adjusted auto free cash flow were records for the automaker, GM said. GM CFO Paul Jacobson said the company's 2025 guidance does not take into account any potential regulatory changes such as tariffs on vehicle imports or tax reform.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:GM's $47.7 billion in revenue in the fourth quarter was up 11% from the same period last year.Jacobson said the company's 2024 performance was ""outstanding,"" citing growth in its EV and traditional internal combustion engine businesses. GM lost $2.96 billion, or $1.64 per share, in the fourth quarter, which ended Dec. 31, compared with earnings of $2.1 billion, or $1.59 per share, in the same period a year earlier.GM's quarterly results include $5 billion in special charges such as $4 billion in noncash restructuring charges related to its operations in China and $500 million in charges related to the decision to stop funding its Cruise robotaxi business. Excluding those charges and other items, GM earned $1.92 per share in the fourth quarter.GM CEO Mary Barra said during the company's investor call that it has a proposed restructuring plan to refocus its autonomous driving business on personal vehicles and expects annual run rate savings of about $1 billion from shutting down robotaxi development.GM's $6 billion in net income attributable to stockholders for the full year 2024 was down 40.7% from 2023.GM last month said it expected a restructuring of its joint venture operations with SAIC Motor Corp. in China to cost more than $5 billion in noncash charges and write-downs, most of which occurred during the fourth quarter.GM's revenue last year increased to $187.44 billion, up 9.1% from 2023.GM's North American operations continued their yearslong trend of carrying the automaker's earnings. Its North American adjusted earnings increased 18.1% compared with 2023 to $14.53 billion, which equates to a 9.2% adjusted profit margin.The Detroit automaker's international operations — such as South Korea, Brazil and the Middle East — reported adjusted earnings of $303 million last year, down by 75% compared with 2023. Its equity income from China was a loss of $4.41 billion, largely due to the restructuring actions.""In China, we reported positive equity income for the fourth quarter before restructuring costs, and we're taking steps with our partner to improve from there,"" GM CEO Mary Barra said in a letter to shareholders.Jacobson reiterated that the company expects to restructure the operations without injecting more capital from the U.S. into China.Aside from its financial results, GM said it expects to continue rolling out new products to assist its sales and earnings. That includes electric vehicles, which the company said reached a targeted profitability on a production basis during the fourth quarter.GM expects a $2 billion to $4 billion improvement this year compared with 2024, based on wholesale volumes of about 300,000 EVs. That would be a roughly 59% increase from the 189,000 units in 2024 — slightly below a previously announced target of 200,000 EVs, as the automaker attempted to lower its days' supply toward the end of the year.""We do think that we can grow our EV demand,"" Jacobson said. ""We're going to continue to see how EV adoption progresses in 2025, but the 300,000 is the assumption that we base on being at the low end of the $2 billion to $4 billion of profit improvement.""GM said it's expecting improvements on scale, fixed cost absorption, and a continued focus on cell and vehicle cost reductions to drive improved earnings for EVs next year.Additionally in 2025, Jacobson said GM will continue to look for opportunities to return value to shareholders as well as pay down the company's automotive debt, including $1.75 billion that matures this year. He said the company early retired $750 million in debt in December in addition to completing stock repurchases to lower its outstanding share count to below 1 billion to end the year.For the entire U.S. industry, Jacobson said GM expects new vehicle sales to be relatively level this year compared with last at more than 16 million vehicles. The Detroit automaker expects vehicle pricing, which has come down from record highs of recent years, to decline between 1% and 1.5%.Barra, in her shareholder letter, noted the current ""uncertainty over trade, tax, and environmental regulations"" could impact the automaker's business.She said the company has been ""proactive with Congress and the administration"" about the importance of U.S. manufacturing and ""American leadership in advanced technologies.""""It's clear that we share a lot of common ground, and we appreciate the dialogue,"" said Barra, who spoke with Trump before his inauguration. ""Whatever happens on these fronts, we have a broad and deep portfolio of [internal combustion engine] vehicles and EVs that are both growing market share, and we'll be agile and execute as efficiently as possible.""GM previously told CNBC that Barra's conversation with Trump was ""friendly and productive.""Trump has discussed implementing a 25% tariff on goods from Canada and Mexico, which could affect vehicles that are imported to the U.S.Most major automakers have factories in the U.S. However, they still heavily rely on imports from other countries, including Mexico, to meet American consumer demand.",CNBC,28/01/2025,"[""In this articleDETROIT — General Motors stock fell more than 8% in trading Tuesday even as the company beat Wall Street's top- and bottom-line expectations for the fourth quarter, while forecasting continued strong results for 2025.Concerns of Wall Street analysts on the company's quarterly earnings callfocused on the automaker's preparation for changes under the Trump administration, including the impacts of potential tariffs on vehicle production and policy changes on electric vehicle sales and pricing, signaling an overhang on the auto industry."", ""Wall Street analysts have said there's a lack of enthusiasm by investors for the U.S. automotive industry amid a slowdown in electric vehicles andautonomous vehicles,as well asregulatory volatility."", 'The Detroit automaker believes it can have another solid year despite industry sales slowing, a restructuring of its operations in China, and increased geopolitical and regulatory uncertainty in the U.S. as President Donald Trump begins his second term.', ""GM's 2025 guidance includes net income attributable to stockholders of $11.2 billion to $12.5 billion, or $11 to $12 in earnings per share; adjusted earnings before interest and taxes (EBIT) of $13.7 billion to $15.7 billion, or $11 to $12 adjusted EPS; and adjusted automotive free cash flow between $11 billion and $13 billion."", '""In our view, the guidance for 2025 leaves no room for errors, and also does not include impact from regulatory changes in the U.S., especially on tariffs and BEV support,"" analysts at Bernstein said in a note.', ""GM's 2025 financial guidance met or exceeded many forecasts from Wall Street analysts."", 'Most notably, analysts were expecting adjusted earnings of around $14 billion.', ""That compares with the automaker's 2024 results of adjusted EBIT of $14.9 billion, or $10.60 adjusted EPS, and net income attributable to stockholders of $6 billion, or $6.37 EPS."", 'The adjusted figures and the $14 billion in adjusted auto free cash flow were records for the automaker, GM said.', ""GM CFO Paul Jacobson said the company's 2025 guidance does not take into account any potential regulatory changes such as tariffs on vehicle imports or tax reform."", ""Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:GM's $47.7 billion in revenue in the fourth quarter was up 11% from the same period last year."", 'Jacobson said the company\'s 2024 performance was ""outstanding,"" citing growth in its EV and traditional internal combustion engine businesses.', 'GM lost $2.96 billion, or $1.64 per share, in the fourth quarter, which ended Dec. 31, compared with earnings of $2.1 billion, or $1.59 per share, in the same period a year earlier.', ""GM's quarterly results include $5 billion in special charges such as$4 billionin noncash restructuring charges related to its operations in China and $500 million in charges related to the decision to stop funding its Cruise robotaxi business."", 'Excluding those charges and other items, GM earned $1.92 per share in the fourth quarter.', ""GM CEO Mary Barra said during the company's investor call that it has a proposed restructuring plan to refocus its autonomous driving business on personal vehicles and expects annual run rate savings of about $1 billion from shutting down robotaxi development."", ""GM's $6 billion in net income attributable to stockholders for the full year 2024 was down 40.7% from 2023.GM last month said it expected a restructuring of its joint venture operations with SAIC Motor Corp. in China to cost more than $5 billion in noncash charges and write-downs, most of which occurred during the fourth quarter."", ""GM's revenue last year increased to $187.44 billion, up 9.1% from 2023.GM's North American operations continued their yearslong trend of carrying the automaker's earnings."", 'Its North American adjusted earnings increased 18.1% compared with 2023 to $14.53 billion, which equates to a 9.2% adjusted profit margin.', ""The Detroit automaker's international operations — such as South Korea, Brazil and the Middle East — reported adjusted earnings of $303 million last year, down by 75% compared with 2023."", 'Its equity income from China was a loss of $4.41 billion, largely due to the restructuring actions.', '""In China, we reported positive equity income for the fourth quarter before restructuring costs, and we\'re taking steps with our partner to improve from there,"" GM CEO Mary Barra said in a letter to shareholders.', 'Jacobson reiterated that the company expects to restructure the operations without injecting more capital from the U.S. into China.', 'Aside from its financial results, GM said it expects to continue rolling out new products to assist its sales and earnings.', 'That includes electric vehicles, which the company said reached a targeted profitability on a production basis during the fourth quarter.', 'GM expects a $2 billion to $4 billion improvement this year compared with 2024, based on wholesale volumes of about300,000 EVs.', ""That would be a roughly 59% increase from the 189,000 units in 2024 — slightly below a previously announced target of 200,000 EVs, as the automaker attempted to lower its days' supply toward the end of the year."", '""We do think that we can grow our EV demand,"" Jacobson said. ""', ""We're going to continue to see how EV adoption progresses in 2025, but the 300,000 is the assumption that we base on being at the low end of the $2 billion to $4 billion of profit improvement."", '""GM said it\'s expecting improvements on scale, fixed cost absorption, and a continued focus on cell and vehicle cost reductions to drive improved earnings for EVs next year.', ""Additionally in 2025, Jacobson said GM will continue to look for opportunities to return value to shareholders as well as pay down thecompany's automotivedebt, including $1.75 billion that matures this year."", 'He said the company early retired $750 million in debt in December in addition to completing stock repurchases to lower its outstanding share count to below 1 billion to end the year.', 'For the entire U.S. industry, Jacobson said GM expects new vehicle sales to be relatively level this year compared with last at more than 16 million vehicles.', 'The Detroit automaker expects vehicle pricing, which has come down from record highs of recent years, to decline between 1% and 1.5%.Barra, in her shareholder letter, noted the current ""uncertainty over trade, tax, and environmental regulations"" could impact the automaker\'s business.', 'She said the company has been ""proactive with Congress and the administration"" about the importance of U.S. manufacturing and ""American leadership in advanced technologies.', '""""It\'s clear that we share a lot of common ground, and we appreciate the dialogue,"" said Barra, who spoke with Trump before his inauguration. ""', ""Whatever happens on these fronts, we have a broad and deep portfolio of [internal combustion engine] vehicles and EVs that are both growing market share, and we'll be agile and execute as efficiently as possible."", '""GM previously told CNBC that Barra\'s conversation with Trump was ""friendly and productive.', '""Trump has discussed implementing a 25% tariff on goods from Canada and Mexico, which could affect vehicles that are imported to the U.S.Most major automakers have factories in the U.S. However, they still heavily rely on imports from other countries, including Mexico, to meet American consumer demand.']",0.2306191398906844,"GM's 2025 guidance includes net income attributable to stockholders of $11.2 billion to $12.5 billion, or $11 to $12 in earnings per share; adjusted earnings before interest and taxes (EBIT) of $13.7 billion to $15.7 billion, or $11 to $12 adjusted EPS; and adjusted automotive free cash flow between $11 billion and $13 billion.",GM's quarterly results include $5 billion in special charges such as$4 billionin noncash restructuring charges related to its operations in China and $500 million in charges related to the decision to stop funding its Cruise robotaxi business.,0.3839311370482811,"GM's revenue last year increased to $187.44 billion, up 9.1% from 2023.GM's North American operations continued their yearslong trend of carrying the automaker's earnings.","In this articleDETROIT — General Motors stock fell more than 8% in trading Tuesday even as the company beat Wall Street's top- and bottom-line expectations for the fourth quarter, while forecasting continued strong results for 2025.Concerns of Wall Street analysts on the company's quarterly earnings callfocused on the automaker's preparation for changes under the Trump administration, including the impacts of potential tariffs on vehicle production and policy changes on electric vehicle sales and pricing, signaling an overhang on the auto industry.",2025-02-03
+"Crash investigators looking at altitude, communication and staffing before helicopter collision with plane",https://www.cnbc.com/2025/01/31/american-airlines-helicopter-crash.html,2025-02-01T00:06:18+0000,"WASHINGTON — How an Army Black Hawk helicopter collided with American Airlines jetliner in a deadly crash over the Potomac River on Wednesday night is still unknown, but key questions are emerging, including about the altitude of the military helicopter.Crash investigators recovered a flight recorder from the Sikorsky H-60 helicopter, adding to evidence they will comb through, which already includes interviews with air traffic controllers, including the one on duty at the time of the crash, and the two recorders from the airplane, National Transportation Safety Board member Todd Inman said Friday.Barges are en route to lift the large pieces of the CRJ-700 from the Potomac River on Saturday, Inman said at a briefing.All 64 people on American Flight 5342 and the three aboard the helicopter were killed in the fireball collision near the Washington, D.C.'s Reagan National Airport, marking the deadliest U.S. air crash since 2001.Forty-one bodies have been recovered from the crash site, Fire and EMS Chief John Donnelly said at a press conference Friday. Of those, 28 have been positively identified.""We have in aviation what's called a 'Swiss cheese approach,' wherein if something fails, a backup should catch it, multiple layers of redundancy,"" Inman said. ""It's been a very long time since we've had a major aviation incident in the United States and that's why it's one of the safest forms of transportation in the country.""The PSA Airlines Bombardier CRJ-700 aircraft was flying at about 300 feet on final approach into Reagan National's Runway 33 shortly before 9 p.m. ET on Wednesday when it collided with the Black Hawk helicopter.PSA Airlines is one of American's subsidiaries that flies regional routes, flights marketed as American Eagle.Defense Secretary Pete Hegseth said the helicopter was on an annual proficiency training flight.According to Federal Aviation Administration rules, helicopters, which regularly cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.""In D.C., it's kind of a unique environment,"" Inman said at a briefing Thursday. He noted that there are helicopter zones, or tracks, in Washington. ""This one was transitioning from track one to four as part of their normal procedure. If you live in D.C., you see a lot of helicopters going down into this area. So there's a very well-defined system.""The FAA will restrict helicopter traffic around the Reagan National Airport area, with some exceptions for medical evacuation and law enforcement operations, Secretary of Transportation Sean Duffy said on X Friday.The airspace is some of the most congested in the country and Reagan National says its main runway is the busiest in the U.S.While the investigation is ongoing, two out of three runways are closed at the airport because of their proximity to the crash area. Terry Liercke, vice president and airport manager, told the press Friday that he expects those closures could last for about a week.Officials at the airport said more than 100 flights had been canceled Friday, citing the runway closures and bad weather.""As you turn to align with the runway, your concentration is on the flight path to get on the runway quickly and get the airplane stopped,"" said John Cox, a retired airline pilot and aviation safety consultant.The NTSB is leading the investigation into the collision that ended in a fireball. The agency said it is still gathering information and that it is too early to draw conclusions.""It's not that we don't have information. We do have information,"" said NTSB Chair Jennifer Homendy. ""We have substantial amounts of information. We need to verify information. We need to take our time to make sure it is accurate.""The NTSB also recovered flight data and cockpit voice recorders from the passenger jet. The boxes were taken to NTSB labs for evaluation, the agency said.President Donald Trump on Friday wrote on Truth Social that the helicopter ""was flying too high, by a lot. It was far above the 200 foot limit. That's not really too complicated to understand, is it???""Hegseth made a similar statement at a White House briefing Thursday.""Tragically, last night a mistake was made,"" he said. ""There was some sort of an elevation issue that we have immediately begun investigating at the DoD and Army level.""Both statements were unusual in the wake of a crash and the early stages of an airline accident investigation.The accident ends a decade-and-a-half period of air safety in the U.S., which hasn't seen a fatal commercial crash since 2009, even though passenger traffic has increased by more than 35% to records. That crash prompted a host of stricter pilot training and rest standards.Shortages of air traffic controllers has been a concern for years, and a spate of close calls at U.S. airports have drawn scrutiny from lawmakers and regulators.Staffing at Reagan National the night of the crash wasn't normal for the amount of traffic and time of day on the night of the crash, according to a preliminary FAA safety report on the collision, NBC News reported on Thursday.Citing a source, NBC said the airport tower usually has a controller who focuses on helicopter traffic, though FAA guidelines allow for that position to be combined with another controller's position, so one controller controls both airplanes and helicopters. The FAA didn't respond to a request for comment on the report.NBC News reported on Friday, citing a source familiar with the investigation that a supervisor at the Reagan National tower let a controller leave their shift early. Inman said on Friday that investigators will look back at air traffic controllers' past 72 hours or even weeks.""We'll look at their training, their hiring, everything, what they probably ate that day,"" he said. ""But it is not one point that tells us everything. It's layered into a lot of other information that's very critical.""",CNBC,01/02/2025,"['WASHINGTON — How an Army Black Hawk helicopter collided with American Airlines jetliner in a deadly crash over the Potomac River on Wednesday night is still unknown, but key questions are emerging, including about the altitude of the military helicopter.', 'Crash investigators recovered a flight recorder from the Sikorsky H-60 helicopter, adding to evidence they will comb through, which already includes interviews with air traffic controllers, including the one on duty at the time of the crash, and the two recorders from the airplane, National Transportation Safety Board member Todd Inman said Friday.', 'Barges are en route to lift the large pieces of the CRJ-700 from the Potomac River on Saturday, Inman said at a briefing.', ""All64 people on American Flight 5342 and the three aboard the helicopter were killed in the fireball collisionnear the Washington, D.C.'s Reagan National Airport, marking the deadliest U.S. air crash since 2001.Forty-one bodies have been recovered from the crash site, Fireand EMS Chief JohnDonnelly said at a press conference Friday."", 'Of those, 28 have been positively identified.', '""We have in aviation what\'s called a \'Swiss cheese approach,\' wherein if something fails, a backup should catch it, multiple layers of redundancy,"" Inman said. ""', ""It's been a very long time since we've had a major aviation incident in the United States and that's why it's one of the safest forms of transportation in the country."", '""The PSA Airlines Bombardier CRJ-700 aircraft was flying at about 300 feet on final approach into Reagan National\'s Runway 33 shortly before 9 p.m. ET on Wednesday when it collided with the Black Hawk helicopter.', ""PSA Airlines is one of American's subsidiaries that flies regional routes, flights marketed as American Eagle."", 'Defense Secretary Pete Hegseth said the helicopter was on an annual proficiency training flight.', 'According to Federal Aviation Administration rules, helicopters, which regularly cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.', '""In D.C., it\'s kind of a unique environment,"" Inman said at a briefing Thursday.', 'He noted that there are helicopter zones, or tracks, in Washington. ""', 'This one was transitioning from track one to four as part of their normal procedure.', 'If you live in D.C., you see a lot of helicopters going down into this area.', ""So there's a very well-defined system."", '""The FAA will restrict helicopter traffic around the Reagan National Airport area, with some exceptions for medical evacuation and law enforcement operations, Secretary of Transportation Sean Duffy said on X Friday.', 'The airspace is some of the most congested in the country and Reagan National says its main runway is the busiest in the U.S.While the investigation is ongoing, two out of three runways are closed at the airport because of their proximity to the crash area.', 'Terry Liercke, vice president and airport manager, told the press Friday that he expects those closures could last for about a week.', 'Officials at the airport said more than 100 flights had been canceled Friday, citing the runway closures and bad weather.', '""As you turn to align with the runway, your concentration is on the flight path to get on the runway quickly and get theairplanestopped,"" said John Cox, a retired airline pilot and aviation safety consultant.', 'The NTSB is leading the investigation into the collision that ended in a fireball.', 'The agency said it is still gathering information and that it is too early to draw conclusions.', '""It\'s not that we don\'t have information.', 'We do have information,"" said NTSB Chair Jennifer Homendy. ""', 'We have substantial amounts of information.', 'We need to verify information.', 'We need to take our time to make sure it is accurate.', '""The NTSB also recovered flight data and cockpit voice recorders from the passenger jet.', 'The boxes were taken to NTSB labs for evaluation, the agency said.', 'President Donald Trump on Friday wrote on Truth Social that the helicopter ""was flying too high, by a lot.', 'It was far above the 200 foot limit.', 'That\'s not really too complicated to understand, is it???""Hegseth made a similar statement at a White House briefing Thursday.', '""Tragically, last night a mistake was made,"" he said. ""', 'There was some sort of an elevation issue that we have immediately begun investigating at the DoD and Army level.', '""Both statements were unusual in the wake of a crash and the early stages of an airline accident investigation.', ""The accident ends adecade-and-a-halfperiod of air safety in the U.S., which hasn't seen a fatal commercial crash since 2009, even though passenger traffic has increased by more than 35% to records."", 'That crash prompted a host of stricter pilot training and rest standards.', 'Shortages of air traffic controllers has been a concern for years, and a spate of close calls at U.S. airports have drawn scrutiny from lawmakers and regulators.', ""Staffing at Reagan National the night of the crash wasn't normal for the amount of traffic and time of day on the night of the crash, according to a preliminary FAA safety report on the collision, NBCNewsreported on Thursday."", ""Citing a source, NBC said the airport tower usually has a controller who focuses on helicopter traffic, though FAA guidelines allow for that position to be combined with another controller's position, so one controller controls both airplanes and helicopters."", ""The FAA didn't respond to a request for comment on the report."", 'NBC News reported on Friday, citing a source familiar with the investigation that a supervisor at the Reagan National tower let a controller leave their shift early.', ""Inman said on Friday that investigators will look back at air traffic controllers' past 72 hours or even weeks."", '""We\'ll look at their training, their hiring, everything, what they probably ate that day,"" he said. ""', 'But it is not one point that tells us everything.', 'It\'s layered into a lot of other information that\'s very critical.""']",-0.0765052939363805,It's been a very long time since we've had a major aviation incident in the United States and that's why it's one of the safest forms of transportation in the country.,"All64 people on American Flight 5342 and the three aboard the helicopter were killed in the fireball collisionnear the Washington, D.C.'s Reagan National Airport, marking the deadliest U.S. air crash since 2001.Forty-one bodies have been recovered from the crash site, Fireand EMS Chief JohnDonnelly said at a press conference Friday.",-0.5827317635218302,"The accident ends adecade-and-a-halfperiod of air safety in the U.S., which hasn't seen a fatal commercial crash since 2009, even though passenger traffic has increased by more than 35% to records.","Shortages of air traffic controllers has been a concern for years, and a spate of close calls at U.S. airports have drawn scrutiny from lawmakers and regulators.",2025-02-02
+Boeing CEO upbeat on recovery plan after company's biggest annual loss since 2020,https://www.cnbc.com/2025/01/28/boeing-ba-4q-2024-earnings.html,2025-01-28T21:01:56+0000,"In this articleBoeing CEO Kelly Ortberg on Tuesday said the company is making progress on its recovery, including by focusing on core businesses and increasing production after the plane maker's multiple safety and manufacturing crises drove it to its sixth consecutive annual loss.Ortberg said the company's 737 Max deliveries will likely reach the ""upper 30s"" this month, up from 17 in December.""We're a little ahead of where I expected,"" he told CNBC's ""Squawk on the Street."" He said Boeing will likely turn cash-flow positive in the second half of the year, after burning through more than $14 billion in 2024, and that the company is set up to reach production of 38 Max aircraft a month.Boeing's shares gained 1.5% on Tuesday.Ortberg, a longtime aerospace executive whom Boeing hired out of retirement over the summer, said the company is also focused on fixing the company's culture.The company is expected it to sell off units like its Jeppesen navigation business, which the CEO confirmed is a candidate during an earnings call on Tuesday.""There are some areas where we can streamline the organization or we may be better off of focusing our energy elsewhere and we'll be actioning those over the coming months and year,"" Ortberg said on the call. ""I think if I give you any guidance, think of it as more pruning the portfolio, not cutting down the tree.""Boeing lost $3.86 billion in the last three months of 2024, taking about $3 billion in charges in its commercial aircraft unit and its defense and space business spanning aircraft from the Boeing 767 to the KC-46 tanker to the long-delayed pair of 747s that are set to serve as new Air Force One planes. Revenue was down 31% from the same period last year to $15.2 billion.  Boeing's results were impacted, as expected, by a nearly two-month machinist strike that idled work on most of its aircraft and lengthened delivery delays to customers, which pay for the bulk of their planes when they're received. Boeing said it burned through about $3.5 billion in the fourth quarter, a difficult end to what was supposed to be a turnaround year. The company expects to have a similar cash use in the first quarter.The company last posted a profit in 2018. In addition to the crashes and Covid, it has faced a host of manufacturing defects and cost overruns, and early last year, a near-catastrophic midair blowout of a door panel on a nearly new Max 9 jetliner as it climbed out of Portland, Oregon.The Federal Aviation Administration capped Boeing's production after the accident at 38 per month.""We need to get to 38 and show stability at 38"" with safety and quality criteria, Ortberg said.""Things look encouraging so far,"" he said, adding that it could get to a point where the company could ramp up production to about 42 a month ""sometime toward the end of the year.""Boeing had released preliminary results last week showing a wider loss and lower revenue than analysts expected.The company's annual loss totaled $11.83 billion, its largest since 2020, when it was grappling with a grounding of its bestselling plane, the 737 Max, after two fatal crashes and the Covid-19 pandemic.""While it was a challenging year, we are seeing encouraging signs of progress as we work together to turn around our company,"" Ortberg said in a staff memo.Its defense unit's revenue fell 20% to $5.4 billion for the quarter, and it took $1.7 billion in pretax charges.""While charges for the quarter in BDS are disappointing, we have completed deep dives on all of our challenging fixed-price development programs,"" Ortberg said in the memo. ""We are now more proactive and clear-eyed on the risks.""Ortberg said in the CNBC interview on Tuesday that Boeing is discussing with President Donald Trump's adviser Elon Musk how to deliver the already delayed Air Force One aircraft earlier and reduce costs in the program, which is more than $2 billion over budget. Musk's company SpaceX is also a Boeing competitor.Revenue for the commercial aircraft unit dropped 55% to $4.76 billion.Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:Boeing lost $3.86 billion, or $5.46 per share in the fourth quarter, compared with a loss of $30 million, or a loss of 4 cents a share, in the same period a year ago. Adjusting for impacts of the strike and charges, the company lost $5.90 per share.After the strike ended in November, Boeing resumed production of its 737 Max aircraft in December, and earlier this month, it restarted test flights of its 777X aircraft, which haven't yet been certified by the FAA. Boeing is also working to certify the Max 7 and Max 10 aircraft, the smallest and largest models in the single-aisle Max family.While airline CEOs have largely supported Ortberg, key Boeing customers are still logging the effects of the delivery delays.American Airlines said over the weekend it made further cuts to its schedule because of late deliveries of new Boeing 787 Dreamliners, which it also planned to use to launch a premium-seat-heavy configuration to capitalize on a consumer shift toward pricier, roomier seats.It plans to suspend service between Miami and Paris in June and July, and cut down on frequencies between Dallas Fort Worth International Airport and New York's John F. Kennedy International to London in May, as well as from Dallas to Honolulu in June.""We'll be proactively reaching out to our impacted customers to offer alternate travel arrangements and remain committed to mitigating the impact of these Boeing delays while continuing to offer a comprehensive global network,"" American said in a statement.Meanwhile, the CEO of European budget airline Ryanair, Michael O'Leary, said Monday that the company had to cut its passenger traffic goal for the year because of ""frustrating"" Boeing delivery delays.— CNBC's Phil LeBeau contributed to this report.Correction: Boeing had a loss of $30 million in the fourth quarter a year earlier. An earlier version misstated the figure.",CNBC,28/01/2025,"[""In this articleBoeing CEO Kelly Ortberg on Tuesday said the company is making progress on its recovery, including by focusing on core businesses and increasing production after the plane maker's multiple safety and manufacturing crises drove it to its sixth consecutive annual loss."", 'Ortberg said the company\'s 737 Max deliveries will likely reach the ""upper 30s"" this month, up from 17 in December.', '""We\'re a little ahead of where I expected,"" he told CNBC\'s ""Squawk on the Street.""', 'He said Boeing will likely turn cash-flow positive in the second half of the year, after burning through more than $14 billion in 2024, and that the company is set up to reach production of 38 Max aircraft a month.', ""Boeing's shares gained 1.5% on Tuesday."", ""Ortberg, a longtime aerospace executive whom Boeing hired out of retirement over the summer, said the company is also focused on fixing the company's culture."", 'The company is expected it to sell off units like its Jeppesen navigation business, which the CEO confirmed is a candidate during an earnings call on Tuesday.', '""There are some areas where we can streamline the organization or we may be better off of focusing our energy elsewhere and we\'ll be actioning those over the coming months and year,"" Ortberg said on the call. ""', 'I think if I give you any guidance, think of it as more pruning the portfolio, not cutting down the tree.', '""Boeing lost $3.86 billion in the last three months of 2024, taking about $3 billion in charges in its commercial aircraft unit and its defense and space business spanning aircraft from the Boeing 767 to the KC-46 tanker to the long-delayed pair of 747s that are set to serve as new Air Force One planes.', 'Revenue was down 31% from the same period last year to $15.2 billion.', ""Boeing's results were impacted, as expected, by a nearly two-month machinist strike that idled work on most of its aircraft and lengthened delivery delays to customers, which pay for the bulk of their planes when they're received."", 'Boeing said it burned through about $3.5 billion in the fourth quarter, a difficult end to what was supposed to be a turnaround year.', 'The company expects to have a similar cash use in the first quarter.', 'The company last posted a profit in 2018.', 'In addition to the crashes and Covid, it has faced a host of manufacturing defects and cost overruns, and early last year, a near-catastrophic midair blowout of a door panel on a nearly new Max 9 jetliner as it climbed out of Portland, Oregon.', ""The Federal Aviation Administration capped Boeing's production after the accident at 38 per month."", '""We need to get to 38 and show stability at 38"" with safety and quality criteria, Ortberg said.', '""Things look encouraging so far,"" he said, adding that it could get to a point where the company could ramp up production to about 42 a month ""sometime toward the end of the year.', '""Boeing had released preliminary results last week showing a wider loss and lower revenue than analysts expected.', ""The company's annual loss totaled $11.83 billion, its largest since 2020, when it was grappling with a grounding of its bestselling plane, the 737 Max, after two fatal crashes and the Covid-19 pandemic."", '""While it was a challenging year, we are seeing encouraging signs of progress as we work together to turn around our company,"" Ortberg said in a staff memo.', ""Its defense unit's revenue fell 20% to $5.4 billion for the quarter, and it took $1.7 billion in pretax charges."", '""While charges for the quarter in BDS are disappointing, we have completed deep dives on all of our challenging fixed-price development programs,"" Ortberg said in the memo. ""', 'We are now more proactive and clear-eyed on the risks.', '""Ortberg said in the CNBC interview on Tuesday that Boeing is discussing with President Donald Trump\'s adviser Elon Musk how to deliver the already delayed Air Force One aircraft earlier and reduce costs in the program, which is more than $2 billion over budget.', ""Musk's company SpaceX is also a Boeing competitor."", 'Revenue for the commercial aircraft unit dropped 55% to $4.76 billion.', ""Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:Boeing lost $3.86 billion, or $5.46 per share in the fourth quarter, compared with a loss of $30 million, or a loss of 4 cents a share, in the same period a year ago."", 'Adjusting for impacts of the strike and charges, the company lost $5.90 per share.', ""After the strike ended in November, Boeingresumed production of its 737 Maxaircraft in December, and earlier this month, it restarted test flights of its 777X aircraft, which haven't yet been certified by the FAA.Boeing is also working to certify the Max 7 and Max 10 aircraft, the smallest and largest models in the single-aisle Max family."", 'While airline CEOs have largely supported Ortberg, key Boeing customers are still logging the effects of the delivery delays.', 'American Airlines said over the weekend it made further cuts to its schedule because of late deliveries of new Boeing 787 Dreamliners, which it also planned to use to launch a premium-seat-heavy configuration to capitalize on a consumer shift toward pricier, roomier seats.', ""It plans to suspend service between Miami and Paris in June and July, and cut down on frequencies between Dallas Fort Worth International Airport and New York's John F. Kennedy International to London in May, as well as from Dallas to Honolulu in June."", '""We\'ll be proactively reaching out to our impacted customers to offer alternate travel arrangements and remain committed to mitigating the impact of these Boeing delays while continuing to offer a comprehensive global network,"" American said in a statement.', 'Meanwhile, the CEO of European budget airline Ryanair, Michael O\'Leary, said Monday that the company had to cut its passenger traffic goal for the year because of ""frustrating"" Boeing delivery delays.—', ""CNBC's Phil LeBeau contributed to this report."", 'Correction: Boeing had a loss of $30 million in the fourth quarter a year earlier.', 'An earlier version misstated the figure.']",0.0012488232661778,"""While it was a challenging year, we are seeing encouraging signs of progress as we work together to turn around our company,"" Ortberg said in a staff memo.","In addition to the crashes and Covid, it has faced a host of manufacturing defects and cost overruns, and early last year, a near-catastrophic midair blowout of a door panel on a nearly new Max 9 jetliner as it climbed out of Portland, Oregon.",-0.1403640253203255,"He said Boeing will likely turn cash-flow positive in the second half of the year, after burning through more than $14 billion in 2024, and that the company is set up to reach production of 38 Max aircraft a month.",Revenue was down 31% from the same period last year to $15.2 billion.,2025-02-02
+"Billionaire family offices kick off 2025 with investments in AI, health care",https://www.cnbc.com/2025/01/31/family-office-investing-january-arnault-laurene-powell-jobs-premji.html,2025-01-31T15:37:39+0000,"A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Europe's richest person, Bernard Arnault, built his fortune on designer handbags and Champagne. His latest bet: security guards.",CNBC,31/01/2025,"[""A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer."", 'Sign upto receive future editions, straight to your inbox.', ""Europe's richest person, Bernard Arnault, built his fortune on designer handbags and Champagne."", 'His latest bet: security guards.']",0.4680034651153835,"Europe's richest person, Bernard Arnault, built his fortune on designer handbags and Champagne.",,,,,2025-02-02
+"Starbucks shakes up its leadership again, adding two former Taco Bell executives",https://www.cnbc.com/2025/01/28/starbucks-adds-two-former-taco-bell-executives-ahead-of-earnings.html,2025-01-28T21:58:50+0000,"In this articleStarbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.""As we focus on our 'Back to Starbucks' plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for each role,"" Niccol said in a letter to employees shared on the company's website.Starbucks announced the move hours before it reported fiscal first-quarter earnings and revenue that topped analyst expectations. As the company tries to mount a turnaround, same-stores sales declined for the fourth straight quarter, but not as badly as Wall Street expected.Before spending six years at Chipotle, Niccol served as CEO of Yum Brands' Taco Bell. Since starting at Starbucks in September, he has already poached some of his former colleagues to help with his transformation of the coffee giant. For example, he tapped Chipotle and Yum Brands alum Tressie Lieberman as Starbucks' global chief brand officer in the fall.The newest changes to the Starbucks organization include splitting the role of North American president into two jobs. The company's current North American president, Sara Trilling, will depart the company. Trilling has been with Starbucks since 2002.Starting in February, Meredith Sandland will hold the role of chief store development officer. Sandland is currently CEO of Empower Delivery, a restaurant software company. Previously, she served as chief operating officer of Kitchen United and as Taco Bell's chief development officer.Additionally, Mike Grams will join the company in February as North America chief stores officer. Grams has been with Taco Bell for more than 30 years, starting as a restaurant general manager and working his way up to become the chain's global chief operating officer, according to his LinkedIn.Both Sandland and Grams will be tasked with implementing Niccol's vision to go ""back to Starbucks."" The strategy includes decreasing service times to four minutes per order, making its stores more welcoming and cozy, as well as slashing the menu.Arthur Valdez, Starbucks' chief supply officer, also plans to leave the company. He joined in 2023 after seven years at Target. Starbucks has already identified his replacement and will share that news in the coming weeks, Niccol said in the letter.",CNBC,28/01/2025,"['In this articleStarbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.', '""As we focus on our \'Back to Starbucks\' plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for each role,"" Niccol said in a letter to employees shared on the company\'s website.', 'Starbucks announced the move hours before it reported fiscal first-quarter earnings and revenue that topped analyst expectations.', 'As the company tries to mount a turnaround, same-stores sales declined for the fourth straight quarter, but not as badly as Wall Street expected.', ""Before spending six years at Chipotle, Niccol served as CEO of Yum Brands' Taco Bell."", 'Since starting at Starbucks in September, he has already poached some of his former colleagues to help with his transformation of the coffee giant.', ""For example, he tapped Chipotleand Yum Brands alum Tressie Lieberman as Starbucks' global chief brand officer in the fall."", 'The newest changes to the Starbucks organization include splitting the role of North American president into two jobs.', ""The company's current North American president, Sara Trilling, will depart the company."", 'Trilling has been with Starbucks since 2002.Starting in February, Meredith Sandland will hold the role of chief store development officer.', 'Sandland is currently CEO of Empower Delivery, a restaurant software company.', ""Previously, she served as chief operating officer of Kitchen United and as Taco Bell's chief development officer."", 'Additionally, Mike Grams will join the company in February as North America chief stores officer.', ""Grams has been with Taco Bell for more than 30 years, starting as a restaurant general manager and working his way up to become the chain's global chief operating officer, according to his LinkedIn."", 'Both Sandland and Grams will be tasked with implementing Niccol\'s vision to go ""back to Starbucks.""', 'The strategy includes decreasing service times to four minutes per order, making its stores more welcoming and cozy, as well as slashing the menu.', ""Arthur Valdez, Starbucks' chief supply officer, also plans to leave the company."", 'He joined in 2023 after seven years at Target.', 'Starbucks has already identified his replacement and will share that news in the coming weeks, Niccol said in the letter.']",0.1644333841535685,"""As we focus on our 'Back to Starbucks' plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for each role,"" Niccol said in a letter to employees shared on the company's website.","In this articleStarbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.",0.3316976229349772,Starbucks announced the move hours before it reported fiscal first-quarter earnings and revenue that topped analyst expectations.,"As the company tries to mount a turnaround, same-stores sales declined for the fourth straight quarter, but not as badly as Wall Street expected.",2025-02-02
+Elon Musk's X begins its push into financial services with Visa deal,https://www.cnbc.com/2025/01/28/elon-musk-x-visa-digital-wallet.html,2025-01-28T19:07:10+0000,"In this articleElon Musk's social media platform X on Tuesday announced the launch of a digital wallet and peer-to-peer payments services provided by Visa.X struck a deal with Visa, the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account, CEO Linda Yaccarino announced in a post on the platform.Visa will enable X users to move funds between traditional bank accounts and their digital wallet and make instant peer-to-peer payments, Yaccarino said, like with Zelle or Venmo.It's the first concrete move from X to create a financial ecosystem for the social media site, which was called Twitter before Musk purchased it in 2022. At the time, Musk, who's also CEO of Tesla, said the $44 billion acquisition was a way to create an ""everything app."" He later said the platform would enable users to conduct their ""entire financial world"" on it.In 2021 while Jack Dorsey was at the helm of Twitter, the company launched a bitcoin tipping feature that allowed users to add their crypto wallet addresses and receive payments in the world's largest digital token.But attaining status as a money service business in the U.S. required navigating a far more complex regulatory landscape.For over a year, Musk has been applying for these licenses for X. According to its website, X Payments LLC is licensed in 41 states and registered with the Financial Crimes Enforcement Network, or FinCEN.The X Money service is expected to launch in the first quarter, and deals with more financial partners are likely, according to a person with knowledge of the situation.One of the first use cases for X Money is to allow creators on the site to accept payments and store funds without external institutions, said this person, who spoke on the condition of anonymity to discuss internal matters.In November 2022, Musk suggested to the platform's advertisers in a meeting publicly broadcast on Spaces that its coming payments product might ultimately offer certain banking features, such as a high-yield money market account.Representatives of Visa declined to comment on the matter.",CNBC,28/01/2025,"[""In this articleElon Musk'ssocial media platform X on Tuesday announced the launch of a digital wallet and peer-to-peer payments services provided by Visa."", 'X struck a deal with Visa, the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account, CEO Linda Yaccarino announced in a post on the platform.', 'Visa will enable X users to move funds between traditional bank accounts and their digital wallet and make instant peer-to-peer payments, Yaccarino said, like with Zelle or Venmo.', ""It's the first concrete move from X to create a financial ecosystem for the social media site, which was called Twitter before Musk purchased it in 2022."", 'At the time, Musk, who\'s also CEO of Tesla, said the $44 billion acquisition was a way to create an ""everything app.""', 'He later said the platform would enable users to conduct their ""entire financial world"" on it.', ""In 2021 while Jack Dorsey was at the helm of Twitter, the company launched a bitcoin tipping feature that allowed users to add their crypto wallet addresses and receive payments in the world's largest digital token."", 'But attaining status as a money service business in the U.S. required navigating a far more complex regulatory landscape.', 'For over a year, Musk has been applying for these licenses for X. According to its website, X Payments LLC is licensed in 41 states and registered with the Financial Crimes Enforcement Network, or FinCEN.The X Money service is expected to launch in the first quarter, and deals with more financial partners are likely, according to a person with knowledge of the situation.', 'One of the first use cases for X Money is to allow creators on the site to accept payments and store funds without external institutions, said this person, who spoke on the condition of anonymity to discuss internal matters.', ""In November 2022, Musk suggested to the platform's advertisers in a meeting publicly broadcast on Spaces that its coming payments product might ultimately offer certain banking features, such as a high-yield money market account."", 'Representatives of Visa declined to comment on the matter.']",0.1704256576963926,"One of the first use cases for X Money is to allow creators on the site to accept payments and store funds without external institutions, said this person, who spoke on the condition of anonymity to discuss internal matters.",,0.999309778213501,"X struck a deal with Visa, the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account, CEO Linda Yaccarino announced in a post on the platform.",,2025-02-02
+JetBlue shares tumble 25% after disappointing outlook,https://www.cnbc.com/2025/01/28/jetblue-shares-tumble-roughly-20percent-after-disappointing-outlook.html,2025-01-28T21:03:17+0000,"In this articleJetBlue Airways shares fell more than 25% on Tuesday, the biggest one-day percentage loss since the company went public more than two decades ago, after the carrier's financial outlook disappointed investors.The New York-based airline forecast its unit costs, excluding fuel, will rise as much as 7% this year from 2024. In the first quarter, it said it expected this metric to rise as much as 10% this quarter year-over-year.It estimated revenue could come in up to 0.5% lower to as much as 3.5% higher this quarter over 2024. Larger competitors Delta and United have been forecasting higher revenue growth, a sign of those airlines' strengthening pricing power.JetBlue is in the middle of a plan to reduce costs by culling unprofitable routes, deferring new aircraft and drumming up revenue with higher-priced seats. CNBC reported Friday that JetBlue has offered senior pilots voluntary early retirement packages. JetBlue cut costs by $190 million last year, the company said Tuesday.""This is a multiyear strategy, and it's not linear, and we're focused on the long term here in getting JetBlue back to sustained profitability,"" CEO Joanna Geraghty, who took the top job last year, said during an earnings call on Tuesday. ""So it's going to take a little time.""Geraghty added she was pleased with the carrier's progress, which puts it on track to add up to $900 million to pretax profit 2027.The carrier expects its 2025 revenue to rise between 3% and 6% on flat capacity. The impact of a Pratt & Whitney engine recall will be worse this year, grounding a number of the company's Airbus jets in the ""mid- to high teens, up from 11 grounded aircraft last year,"" CFO Ursula Hurley said on the earnings call Tuesday.JetBlue is in the middle of a plan to reduce costs by culling unprofitable routes, deferring new aircraft and drumming up revenue with higher-priced seats. CNBC reported Friday that JetBlue has offered senior pilots voluntary early retirement packages.JetBlue lost two antitrust cases that blocked two of its growth strategies. In 2024, a federal judge blocked JetBlue's planned acquisition of Spirit Airlines, which filed for Chapter 11 bankruptcy protection in November, and in 2023, JetBlue lost a case over its regional partnership with American Airlines.""We would note that the current management team has hit their numbers, but in a market where airlines are seeing solid earnings growth, JetBlue hasn't been able to keep pace,"" wrote Melius Research analyst Conor Cunningham. ""JetBlue still needs to aggressively ramp unit revenue throughout the year to get to sustained operating profit – all possible, it just is hard to underwrite given the drag in 1Q.""JetBlue's fourth-quarter loss narrowed to $44 million, or a loss of 13 cents per share, down from a loss of $104 million, or a loss of 31 cents a share, in the same period in 2023. The carrier reported revenue of $2.28 billion, down 2.1% from a year earlier.",CNBC,28/01/2025,"[""In this articleJetBlue Airways shares fell more than 25% on Tuesday, the biggest one-day percentage loss since the company went public more than two decades ago, after the carrier's financial outlook disappointed investors."", 'The New York-based airline forecast its unit costs, excluding fuel, will rise as much as 7% this year from 2024.', 'In the first quarter, it said it expected this metric to rise as much as 10% this quarter year-over-year.', 'It estimated revenue could come in up to 0.5% lower to as much as 3.5% higher this quarter over 2024.', ""Larger competitors Delta and United have been forecasting higher revenue growth, a sign of those airlines' strengthening pricing power."", 'JetBlue is in the middle of a plan to reduce costs by culling unprofitable routes, deferring new aircraft and drumming up revenue with higher-priced seats.', 'CNBC reported Friday that JetBlue has offered senior pilots voluntary early retirement packages.', 'JetBlue cut costs by $190 million last year, the company said Tuesday.', '""This is a multiyear strategy, and it\'s not linear, and we\'re focused on the long term here in getting JetBlue back to sustained profitability,"" CEO Joanna Geraghty, who took the top job last year, said during an earnings call on Tuesday. ""', ""So it's going to take a little time."", '""Geraghty added she was pleased with the carrier\'s progress, which puts it on track to add up to $900 million to pretax profit 2027.The carrier expects its 2025 revenue to rise between 3% and 6% on flat capacity.', 'The impact of a Pratt & Whitney engine recall will be worse this year, grounding a number of the company\'s Airbus jets in the ""mid- to high teens, up from 11 grounded aircraft last year,"" CFO Ursula Hurley said on the earnings call Tuesday.', 'JetBlue is in the middle of a plan to reduce costs by culling unprofitable routes, deferring new aircraft and drumming up revenue with higher-priced seats.', 'CNBC reported Friday that JetBlue has offered senior pilots voluntary early retirement packages.', 'JetBlue lost two antitrust cases that blocked two of its growth strategies.', ""In 2024, a federal judge blocked JetBlue's planned acquisition of Spirit Airlines, which filed for Chapter 11 bankruptcy protection in November, and in 2023, JetBlue lost a case over its regional partnership with American Airlines."", '""We would note that the current management team has hit their numbers, but in a market where airlines are seeing solid earnings growth, JetBlue hasn\'t been able to keep pace,"" wrote Melius Research analyst Conor Cunningham. ""', 'JetBlue still needs to aggressively ramp unit revenue throughout the year to get to sustained operating profit – all possible, it just is hard to underwrite given the drag in 1Q.""JetBlue\'s fourth-quarterloss narrowed to $44 million,or a loss of 13 cents per share,downfrom a loss of $104 million, or a loss of 31 cents a share, in the same period in 2023.', 'The carrier reported revenue of $2.28 billion, down 2.1% from a year earlier.']",0.011966289248923,"Larger competitors Delta and United have been forecasting higher revenue growth, a sign of those airlines' strengthening pricing power.","In this articleJetBlue Airways shares fell more than 25% on Tuesday, the biggest one-day percentage loss since the company went public more than two decades ago, after the carrier's financial outlook disappointed investors.",0.083886702855428,"""Geraghty added she was pleased with the carrier's progress, which puts it on track to add up to $900 million to pretax profit 2027.The carrier expects its 2025 revenue to rise between 3% and 6% on flat capacity.",It estimated revenue could come in up to 0.5% lower to as much as 3.5% higher this quarter over 2024.,2025-02-02
+Major League Table Tennis signs first media deal with CBS Sports,https://www.cnbc.com/2025/01/29/major-league-table-tennis-signs-first-media-deal-with-cbs-sports-.html,2025-01-29T21:12:55+0000,"Major League Table Tennis is going primetime.The pro table tennis league that got its start in 2023 by software entrepreneur Flint Lane has signed its first-ever national television deal with CBS Sports, the league announced Wednesday. This comes as table tennis has seen a resurgence in popularity and as broadcasters are hungry for sports content.Terms of the deal were not disclosed, but CBS Sports Network will air MLTT matches, exclusive highlights, player profiles and behind-the-scenes features throughout the season beginning Sunday at 8 p.m. ET.""This partnership with CBS Sports is a defining milestone for Major League Table Tennis,"" Lane, founder and commissioner of MLTT, told CNBC. ""It's a testament to the league's energy, talent and growing appeal that captivates audiences. We're excited to bring professional table tennis to millions of homes.""MLTT said it's one of America's fastest-growing sports on digital and social platforms and that its viewership on YouTube grew more than 1,200% from its first season into its second season. MLTT also noted that table tennis is the sixth most popular sport in the world with 850 million fans, according to the World Atlas.MLTT currently has eight teams from cities across the U.S. The teams compete against each other during weekend matches.The league has raised about $10 million in capital, Flint said, with investment from names like David Blitzer, owner of Harris Blitzer Sports & Entertainment, which owns the Washington Commanders and Philadelphia 76ers, and Daryl Morey, president of the Philadelphia 76ers.Former San Antonio Spurs star Manu Ginóbili is a minority team owner in MLTT team the Florida Crocs.""Table tennis is considered a basement sport in America,"" Flint said. ""Throughout Europe, there are professional leagues, but we've never had a professional league in this country, so it gives us more credibility.""Flint said the sport got a boost at the Paris Olympics, where for the first time ever two Americans made it to the round of 16. One of those players, Lily Zhang, plays for MLTT.The sport also got some buzz during the Olympics when Golden State Warriors Star Stephen Curry met the USA Table Tennis team at opening ceremonies and later invited them to sit courtside at a game.While MLTT hasn't yet been approved for sports betting, betting on table tennis gained traction during the coronavirus pandemic when many sports were shuttered. In some states like Oregon, table tennis is one of the top sports for betting due to its fast pace and rapidly changing odds.Flint said now that the league has locked in a television deal, it will focus on selling two expansion teams and increasing the sport's presence at the grassroots level.Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.Correction: This article has been updated to correct the spelling of Lily Zhang's name.",CNBC,29/01/2025,"['Major League Table Tennis is going primetime.', 'The pro table tennis league that got its start in 2023 by software entrepreneur Flint Lane has signed its first-ever national television deal with CBS Sports, the league announced Wednesday.', 'This comes as table tennis has seen a resurgence in popularity and as broadcasters are hungry for sports content.', 'Terms of the deal were not disclosed, but CBS Sports Network will air MLTT matches, exclusive highlights, player profiles and behind-the-scenes features throughout the season beginning Sunday at 8 p.m. ET.""This partnership with CBS Sports is a defining milestone for Major League Table Tennis,"" Lane, founder and commissioner of MLTT, told CNBC. ""', ""It's a testament to the league's energy, talent and growing appeal that captivates audiences."", ""We're excited to bring professional table tennis to millions of homes."", '""MLTT said it\'s one of America\'s fastest-growing sports on digital and social platforms and that its viewership on YouTube grew more than 1,200% from its first season into its second season.', 'MLTT also noted that table tennis is the sixth most popular sport in the world with 850 million fans, according to the World Atlas.', 'MLTT currently has eight teams from cities across the U.S. The teams compete against each other during weekend matches.', 'The league has raised about $10 million in capital, Flint said, with investment from names like David Blitzer, owner of Harris Blitzer Sports & Entertainment, which owns the Washington Commanders and Philadelphia 76ers, and Daryl Morey, president of the Philadelphia 76ers.', 'Former San Antonio Spurs star Manu Ginóbili is a minority team owner in MLTT team the Florida Crocs.', '""Table tennis is considered a basement sport in America,"" Flint said. ""', ""Throughout Europe, there are professional leagues, but we've never had a professional league in this country, so it gives us more credibility."", '""Flint said the sport got a boost at the Paris Olympics, where for the first time ever two Americans made it to the round of 16.', 'One of those players, Lily Zhang, plays for MLTT.The sport also got some buzz during the Olympics when Golden State Warriors Star Stephen Curry met the USA Table Tennis team at opening ceremonies and later invited them to sit courtside at a game.', ""While MLTT hasn't yet been approved for sports betting, betting on table tennis gained traction during the coronavirus pandemic when many sports were shuttered."", 'In some states like Oregon, table tennis is one of the top sports for betting due to its fast pace and rapidly changing odds.', ""Flint said now that the league has locked in a television deal, it will focus on selling two expansion teams and increasing the sport's presence at the grassroots level."", 'Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics.', ""NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.Correction: This article has been updated to correct the spelling of Lily Zhang's name.""]",0.2405824420060003,"It's a testament to the league's energy, talent and growing appeal that captivates audiences.",,0.9819360321218316,"""MLTT said it's one of America's fastest-growing sports on digital and social platforms and that its viewership on YouTube grew more than 1,200% from its first season into its second season.",,2025-02-02
+WNBA files trademark application to bring back 'Detroit Shock' as city submits expansion bid,https://www.cnbc.com/2025/01/31/wnba-detroit-team-bid-trademark.html,2025-01-31T17:59:30+0000,"As cities across the country vie for the next Women's National Basketball Association team, the league quietly filed a trademark application this week for the name ""Detroit Shock.""The filing, dated Thursday, notes the intended use is for a basketball team, merchandise, jerseys and in-arena signage that could appear on TV or radio broadcasts. It could offer clues into the league's ultimate decision for the location of a new franchise.On Friday, Detroit Pistons owner Tom Gores submitted a bid for the Motor City to host a new team. The ownership group would be led by Gores and also includes Detroit Lions principal owner and chair Sheila Ford Hamp; former Detroit Pistons stars Grant Hill and Chris Webber; General Motors CEO Mary Barra; and Detroit Lions quarterback Jared Goff.""Detroit is a sports town that loves its teams deeply and consistently shows up with unwavering passion,"" Gores said in a statement.The WNBA and Detroit Pistons did not immediately respond to CNBC's request for comment on the trademark application.The new trademark application by the WNBA is the only submission from the professional women's basketball league since early December, according to Josh Gerben, a trademark attorney at Gerben IP, who is not involved with the specific filing.Unlike other professional sports leagues where individual teams own their own trademark filings, the WNBA holds the rights to all names and logos for the league's franchises, according to Gerben.""Circumstantial evidence would be that [Detroit's] is a winning bid and they're very much planning on getting this going to have filed that trademark application,"" Gerben told CNBC.However, Gerben said the filing could also be a way for the league to protect itself against ""squatters"" or others trying to use the name.Another trademark application was filed for the ""Detroit Shock"" by an individual named Ryan Reed in July 2023, but that trademark has yet to be approved. A person with the same name, purportedly based in Detroit, identifies as the founder of a women's basketball league on LinkedIn.The Detroit Shock were a WNBA team based in Auburn Hills, Michigan, from 1998 to 2009. The team won three WNBA Championships in 2003, 2006 and 2008. In 2009, the franchise moved to Tulsa, Oklahoma, where they played until 2015. Today, they play in Arlington, Texas, as the Dallas Wings.WNBA Commissioner Cathy Engelbert said at the WNBA Finals in October that at least 10 cities had expressed interest in launching an expansion team.""We're not in a huge rush. We'd like to bring it in '27 or no later than '28,"" Engelbert said at the time in regard to adding a 16th team.Cleveland, Kansas City, Philadelphia, St. Louis, Houston, Austin, Nashville and Milwaukee are among the locations seeking to bring women's professional basketball to their cities.",CNBC,31/01/2025,"['As cities across the country vie for the next Women\'s National Basketball Association team, the league quietly filed a trademark application this week for the name ""Detroit Shock.', '""The filing, dated Thursday, notes the intended use is for a basketball team, merchandise, jerseys and in-arena signage that could appear on TV or radio broadcasts.', ""It could offer clues into the league's ultimate decision for the location of a new franchise."", 'On Friday, Detroit Pistons owner Tom Gores submitted a bid for the Motor City to host a new team.', 'The ownership group would be led by Gores and also includes Detroit Lions principal owner and chair Sheila Ford Hamp; former Detroit Pistons stars Grant Hill and Chris Webber; General Motors CEO Mary Barra; and Detroit Lions quarterback Jared Goff.', '""Detroit is a sports town that loves its teams deeply and consistently shows up with unwavering passion,"" Gores said in a statement.', ""The WNBA and Detroit Pistons did not immediately respond to CNBC's request for comment on the trademark application."", ""The new trademark application by the WNBA is the only submission from the professional women's basketball league since early December, according to Josh Gerben, a trademark attorney at Gerben IP, who is not involved with the specific filing."", ""Unlike other professional sports leagues where individual teams own their own trademark filings, the WNBA holds the rights to all names and logos for the league's franchises, according to Gerben."", '""Circumstantial evidence would be that [Detroit\'s] is a winning bid and they\'re very much planning on getting this going to have filed that trademark application,"" Gerben told CNBC.However, Gerben said the filing could also be a way for the league to protect itself against ""squatters"" or others trying to use the name.', 'Another trademark application was filed for the ""Detroit Shock"" by an individual named Ryan Reed in July 2023, but that trademark has yet to be approved.', ""A person with the same name, purportedly based in Detroit, identifies as the founder of a women's basketball league on LinkedIn."", 'The Detroit Shock were a WNBA team based in Auburn Hills, Michigan, from 1998 to 2009.', 'The team won three WNBA Championships in 2003, 2006 and 2008.', 'In 2009, the franchise moved to Tulsa, Oklahoma, where they played until 2015.', 'Today, they play in Arlington, Texas, as the Dallas Wings.', 'WNBA Commissioner Cathy Engelbert said at the WNBA Finals in October that at least 10 cities had expressed interest in launching an expansion team.', '""We\'re not in a huge rush.', 'We\'d like to bring it in \'27 or no later than \'28,"" Engelbert said at the time in regard to adding a 16th team.', ""Cleveland, Kansas City, Philadelphia, St. Louis, Houston, Austin, Nashville and Milwaukee are among the locations seeking to bring women's professional basketball to their cities.""]",0.1643768096009547,"The team won three WNBA Championships in 2003, 2006 and 2008.","As cities across the country vie for the next Women's National Basketball Association team, the league quietly filed a trademark application this week for the name ""Detroit Shock.",0.9991536140441896,"""Circumstantial evidence would be that [Detroit's] is a winning bid and they're very much planning on getting this going to have filed that trademark application,"" Gerben told CNBC.However, Gerben said the filing could also be a way for the league to protect itself against ""squatters"" or others trying to use the name.",,2025-02-02
+New York City office demand is finally back to normal,https://www.cnbc.com/2025/01/31/new-york-city-office-demand-back-to-normal.html,2025-01-31T20:42:30+0000,"In this articleDemand for New York City office space has finally returned to pre-pandemic levels, driven by an influx of new workers as well as a drive by employers to see current workers return to the office.During the fourth quarter, office demand in the city jumped 25% from the year before, according to VTS, which measures demand through unique new tenant tours of properties. The measure is an early indicator of new leasing.""New York City's shift back to in-office work reflects the city's unique cultural and economic dynamics, especially in the finance and tech sectors,"" said Nick Romito, CEO of VTS, in a news release.SL Green Realty Corp., a real estate investment trust, or REIT, concentrated in Manhattan office and retail, released earnings last week, and while it missed revenue expectations, analysts pointed to further tightening in the office market as leasing demand accelerates.On a call with analysts, SL Green Realty CEO Marc Holliday noted that the city's Office of Management and Budget is forecasting about 38,000 new office-using jobs in 2025, mostly stemming from finance, business services and information technology.""That translates into millions and millions of square feet of new absorption for each one of those bodies, and those are not work-from-home bodies for the most part,"" said Holliday. ""Combine that with the fact that on-site attendance is rising every month as companies are calling people back to the office four and five days a week. We expect to see very strong demand for office space throughout 2025,"" Holliday added.Holliday also noted SL Green ended the year at 92.5% occupancy, and is projecting more than 93% leased occupancy over the coming year.Tech giant IBM recently signed a 92,663-square-foot expansion lease with SL Green at One Madison Avenue, increasing IBM's total footprint at the property to more than 362,000 square feet.""The expansion of IBM's flagship office at One Madison Avenue reaffirms a long-standing commitment to advance the technology sector in New York City and New York State, with a vibrant and collaborative workspace designed to bring employees, clients and partners together from around the world,"" said Joanne Wright, IBM senior vice president for transformation and operations, in a release.New York is the clear winner in the office recovery, but VTS notes other improving markets. San Francisco saw a 32% annual growth rate in demand, a faster growth rate than New York's, though it was starting at a much weaker position. Seattle and Chicago saw growth rates of around 15% each as employers in those cities increasingly embrace hybrid work models that require consistent in-office presence.""The data shows that while some markets, like New York City, are rapidly returning to traditional office settings, the national picture reflects slow but steady progress,"" said Ryan Masiello, chief strategy officer of VTS.Nationally, demand in the fourth quarter was up 12% from the previous quarter. Historically, demand declines from the third quarter to the fourth quarter.""This growth is notable — not only for defying seasonal expectations, but for emerging in the midst of a cooling labor market. Businesses appear more willing to invest in office space despite economic uncertainty, signaling a shift in confidence and long-term planning,"" Masiello said.",CNBC,31/01/2025,"['In this articleDemand for New York City office space has finally returned to pre-pandemic levels, driven by an influx of new workers as well as a drive by employers to see current workers return to the office.', 'During the fourth quarter, office demand in the city jumped 25% from the year before, according to VTS, which measures demand through unique new tenant tours of properties.', 'The measure is an early indicator of new leasing.', '""New York City\'s shift back to in-office work reflects the city\'s unique cultural and economic dynamics, especially in the finance and tech sectors,"" said Nick Romito, CEO of VTS, in a news release.', 'SL Green Realty Corp., a real estate investment trust, or REIT, concentrated in Manhattan office and retail, released earnings last week, and while it missed revenue expectations, analysts pointed to further tightening in the office market as leasing demand accelerates.', ""On a call with analysts, SL Green Realty CEO Marc Holliday noted thatthe city's Office of Management and Budget is forecasting about 38,000 new office-using jobs in 2025, mostly stemming from finance, business services and information technology."", '""That translates into millions and millions of square feet of new absorption for each one of those bodies, and those are not work-from-home bodies for the most part,"" said Holliday. ""', 'Combine that with the fact that on-site attendance is rising every month as companies are calling people back to the office four and five days a week.', 'We expect to see very strong demand for office space throughout 2025,"" Holliday added.', 'Holliday also noted SL Green ended the year at 92.5% occupancy, and is projecting more than 93% leased occupancy over the coming year.', ""Tech giant IBM recently signed a 92,663-square-foot expansion lease with SL Green at One Madison Avenue, increasing IBM's total footprint at the property to more than 362,000 square feet."", '""The expansion of IBM\'s flagship office at One Madison Avenue reaffirms a long-standing commitment to advance the technology sector in New York City and New York State, with a vibrant and collaborative workspace designed to bring employees, clients and partners together from around the world,"" saidJoanne Wright, IBM senior vice president for transformation and operations, in a release.', 'New York is the clear winner in the office recovery, but VTS notes other improving markets.', ""San Francisco saw a 32% annual growth rate in demand, a faster growth rate than New York's, though it was starting at a much weaker position."", 'Seattle and Chicago saw growth rates of around 15% each as employers in those cities increasingly embrace hybrid work models that require consistent in-office presence.', '""The data shows that while some markets, like New York City, are rapidly returning to traditional office settings, the national picture reflects slow but steady progress,"" said Ryan Masiello, chief strategy officer of VTS.Nationally, demand in the fourth quarter was up 12% from the previous quarter.', 'Historically, demand declines from the third quarter to the fourth quarter.', '""This growth is notable — not only for defying seasonal expectations, but for emerging in the midst of a cooling labor market.', 'Businesses appear more willing to invest in office space despite economic uncertainty, signaling a shift in confidence and long-term planning,"" Masiello said.']",0.2373358636412649,"New York is the clear winner in the office recovery, but VTS notes other improving markets.","During the fourth quarter, office demand in the city jumped 25% from the year before, according to VTS, which measures demand through unique new tenant tours of properties.",0.8551942780613899,"""The data shows that while some markets, like New York City, are rapidly returning to traditional office settings, the national picture reflects slow but steady progress,"" said Ryan Masiello, chief strategy officer of VTS.Nationally, demand in the fourth quarter was up 12% from the previous quarter.","Historically, demand declines from the third quarter to the fourth quarter.",2025-02-02
+Deadly American Airlines-helicopter collision highlights concerns with crowded U.S. airspace,https://www.cnbc.com/2025/01/30/american-airlines-plane-crash-military-helicopter-airspace.html,2025-01-31T14:22:05+0000,"In this articleAs rescuers continued retrieving bodies out of the frigid Potomac River on Thursday, the deadliest commercial air disaster in the U.S. since 2001 is bringing long-brewing concerns over congested U.S. airspace into a full-blown crisis.Just before 9 p.m. ET on Wednesday, an American Airlines regional jet collided with a military helicopter near Washington, D.C.'s Reagan National Airport. There were no survivors on either the Bombardier CRJ700 regional jet, which carried 60 passengers and four crew members, or on the Army Black Hawk helicopter, which was carrying three people, officials said.A series of close calls at airports in recent years has raised alarms among airlines, regulators and lawmakers. It is not immediately clear what led to the deadly collision on Wednesday. A full investigation could take months, if not longer than a year. Officials on Thursday did not blame air traffic control for the deadly crash.In one of the recent incidents that raised concerns, a JetBlue Airways plane starting its takeoff roll at Reagan National Airport in April came within a few hundred feet of a Southwest Airlines flight, which was told to cross the runway.Despite those close calls, there has not been a major fatal commercial airplane crash on U.S. soil since February 2009. Wednesday's crash was the deadliest since November 2001.""The system is as safe as it has ever been,"" Southwest Airlines CEO Bob Jordan said in an interview with CNBC's ""Squawk on the Street"" on Thursday morning.Airline executives have pushed consecutive administrations to modernize air traffic control and hire more staffers to help alleviate congestion in some of the busiest corridors in the U.S. Ronald Reagan Washington National Airport's main runway is the busiest in the U.S., according to the area's airport authority.""The system has been in need of modernization for literally decades now,"" Jordan said. ""You've got equipment that goes back to the 1960s, and modernizing the equipment actually allows for better management of the airspace, more throughput, so more efficiency.""",CNBC,31/01/2025,"['In this articleAs rescuers continued retrieving bodies out of the frigid Potomac River on Thursday, the deadliest commercial air disaster in the U.S. since 2001 is bringing long-brewing concerns over congested U.S. airspace into a full-blown crisis.', ""Just before 9 p.m. ET on Wednesday, an American Airlines regional jet collided with a military helicopter near Washington, D.C.'s Reagan National Airport."", 'There were no survivors on either the Bombardier CRJ700 regional jet, which carried 60 passengers and four crew members, or on the Army Black Hawk helicopter, which was carrying three people, officials said.', 'A series of close calls at airports in recent years has raised alarms among airlines, regulators and lawmakers.', 'It is not immediately clear what led to the deadly collision on Wednesday.', 'A full investigation could take months, if not longer than a year.', 'Officials on Thursday did not blame air traffic control for the deadly crash.', 'In one of the recent incidents that raised concerns, a JetBlue Airways plane starting its takeoff roll at Reagan National Airport in April came within a few hundred feet of a Southwest Airlines flight, which was told to cross the runway.', 'Despite those close calls, there has not been a major fatal commercial airplane crash on U.S. soil since February 2009.', 'Wednesday\'s crash was the deadliest since November 2001.""The system is as safe as it has ever been,"" Southwest Airlines CEO Bob Jordan said in an interview with CNBC\'s ""Squawk on the Street"" on Thursday morning.', ""Airline executives have pushed consecutive administrations to modernize air traffic control and hire more staffers to help alleviate congestion in some of the busiest corridors in the U.S. Ronald Reagan Washington National Airport's main runway is the busiest in the U.S., according to the area's airport authority."", '""The system has been in need of modernization for literally decades now,"" Jordan said. ""', 'You\'ve got equipment that goes back to the 1960s, and modernizing the equipment actually allows for better management of the airspace, more throughput, so more efficiency.""']",-0.1262463838850265,"You've got equipment that goes back to the 1960s, and modernizing the equipment actually allows for better management of the airspace, more throughput, so more efficiency.""","In this articleAs rescuers continued retrieving bodies out of the frigid Potomac River on Thursday, the deadliest commercial air disaster in the U.S. since 2001 is bringing long-brewing concerns over congested U.S. airspace into a full-blown crisis.",0.0391943554083506,"Airline executives have pushed consecutive administrations to modernize air traffic control and hire more staffers to help alleviate congestion in some of the busiest corridors in the U.S. Ronald Reagan Washington National Airport's main runway is the busiest in the U.S., according to the area's airport authority.","A series of close calls at airports in recent years has raised alarms among airlines, regulators and lawmakers.",2025-02-02
+American Airlines collision with Army helicopter is worst U.S. air disaster since 2001,https://www.cnbc.com/2025/01/30/american-airlines-helicopter-collision-worst-air-disaster-in-years.html,2025-01-30T22:04:39+0000,"In this articleThe midair collision of a military helicopter and an American Airlines regional jetliner near Washington, D.C.'s Reagan National Airport on Wednesday night brings to an end a streak of commercial air travel safety that was unknown to previous generations.It is the deadliest air disaster on U.S. soil in more than 20 years.Officials said Thursday morning that they were shifting from a recovery effort to a rescue effort and that there were no survivors. Washington's Fire and EMS Chief John Donnelly said 27 bodies have been recovered so far.American Eagle Flight 5342 from Wichita, Kansas, was approaching Ronald Reagan Washington National Airport at an altitude of about 300 feet when a U.S. Army Black Hawk helicopter carrying three people collided with the commercial jetliner.Sixty-four people — 60 passengers and four crew members — were on board the American flight. The flight was operated by American subsidiary carrier PSA Airlines. The plane was a Bombardier CRJ700, a regional jet used for shorter routes.Rescuers had raced to recover passengers from the frigid waters of the Potomac River on Wednesday night, but local officials said conditions were challenging due to high winds.The U.S. has gone years without a fatal commercial airline crash. The last deadly U.S. commercial passenger airline crash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.The crash of that turboprop aircraft prompted federal regulations requiring more rest and training for pilots.The deadliest incident in recent memory was American Airlines Flight 587, an Airbus A300 that crashed in November 2001 shortly after it took off from New York's John F. Kennedy International Airport headed for the Dominican Republic. All 260 people on the flight were killed and five others died on the ground in Queens.Airplane crashes have become extremely rare, which safety experts often chalk up to overlapping and redundant safety measures.""It's extremely safe. Even with this accident I'll say it's extremely safe,"" said Jeff Guzzetti, a retired air safety investigator with the U.S. National Transportation Safety Board and the Federal Aviation Administration. The NTSB will lead an investigation into Wednesday's accident. It will include the FAA, American Airlines, crew members' labor unions and other parties.The NTSB will issue a preliminary report, but a final report that determines the cause or causes of an airplane crash can take months, if not more than a year.Investigators will examine air traffic control recordings, training records, and cockpit voice and data recorders if the black boxes are recovered, along with a host of other factors.The accident presents a challenge to President Donald Trump days into his new term. He has not yet named a candidate to become a permanent head of the Federal Aviation Administration after Biden-appointed Mike Whitaker stepped down Jan. 20, when Trump's term began.The FAA in 2023 laid out a plan designed to improve safety further and eliminate all ""close calls"" at airports.",CNBC,30/01/2025,"[""In this articleThe midair collision of a military helicopter and an American Airlines regional jetliner near Washington, D.C.'s Reagan National Airport on Wednesday night brings to an end a streak of commercial air travel safety that was unknown to previous generations."", 'It is the deadliest air disaster on U.S. soil in more than 20 years.', 'Officials said Thursday morning that they were shifting from a recovery effort to a rescue effort and that there were no survivors.', ""Washington's Fire and EMS Chief John Donnelly said 27 bodies have been recovered so far."", 'American Eagle Flight 5342from Wichita, Kansas, was approaching Ronald Reagan Washington National Airport at an altitude of about 300 feet when a U.S. Army Black Hawk helicopter carrying three people collided with the commercial jetliner.', 'Sixty-four people — 60 passengers and four crew members — were on board the American flight.', 'The flight was operated by American subsidiary carrier PSA Airlines.', 'The plane was a Bombardier CRJ700, a regional jet used for shorter routes.', 'Rescuers had raced to recover passengers from the frigid waters of the Potomac River on Wednesday night, but local officials said conditions were challenging due to high winds.', 'The U.S. has gone years without a fatal commercial airline crash.', 'The last deadly U.S. commercial passengerairlinecrash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.', 'The crash of that turboprop aircraft prompted federal regulations requiring more rest and training for pilots.', ""The deadliest incident in recent memory was American Airlines Flight 587, an Airbus A300 that crashed in November 2001 shortly after it took off from New York's John F. Kennedy International Airport headed for the Dominican Republic."", 'All 260 people on the flight were killed and five others died on the ground in Queens.', 'Airplane crashes have become extremely rare, which safety experts often chalk up to overlapping and redundant safety measures.', '""It\'s extremely safe.', 'Even with this accident I\'ll say it\'s extremely safe,"" said JeffGuzzetti, a retired air safety investigator with the U.S. National Transportation Safety Board and the Federal Aviation Administration.', ""The NTSB will lead an investigation into Wednesday's accident."", ""It will include the FAA, American Airlines, crew members' labor unions and other parties."", 'The NTSB will issue a preliminary report, but a final report that determines the cause or causes of an airplane crash can take months, if not more than a year.', 'Investigators will examine air traffic control recordings, training records, and cockpit voice and data recorders if the black boxes arerecovered, along with a host of other factors.', 'The accident presents a challenge to President Donald Trump days into his new term.', ""He has not yet named a candidate to become a permanent head of the Federal Aviation Administration after Biden-appointed Mike Whitaker stepped down Jan. 20, when Trump's term began."", 'The FAA in 2023 laid out a plan designed to improve safety further and eliminate all ""close calls"" at airports.']",-0.0306561848776776,"The FAA in 2023 laid out a plan designed to improve safety further and eliminate all ""close calls"" at airports.",All 260 people on the flight were killed and five others died on the ground in Queens.,-0.1227345551763262,"Even with this accident I'll say it's extremely safe,"" said JeffGuzzetti, a retired air safety investigator with the U.S. National Transportation Safety Board and the Federal Aviation Administration.","In this articleThe midair collision of a military helicopter and an American Airlines regional jetliner near Washington, D.C.'s Reagan National Airport on Wednesday night brings to an end a streak of commercial air travel safety that was unknown to previous generations.",2025-02-02
+American Airlines CEO says it's not clear why helicopter came into jetliner's flight path,https://www.cnbc.com/2025/01/30/american-airlines-plane-crash-flight-path.html,2025-01-30T19:39:26+0000,"In this articleAmerican Airlines CEO Robert Isom said Thursday morning that the regional jet that collided with a Black Hawk military helicopter near Washington, D.C's Reagan National Airport on Wednesday night was on a standard flight path.The collision between American Eagle Flight 5342 and the helicopter occurred at about 9 p.m. Wednesday. Officials do not expect to find any survivors.""At this time, we don't know why the military aircraft came into the path of the PSA aircraft,"" Isom said at a Thursday morning press conference.Isom said in a staff note Thursday that the National Transportation Safety Board would be the ""sole source of truth going forward, and accuracy is of the utmost importance.""PSA Airlines is an American Airlines subsidiary and one of its regional carriers. American Eagle is how American Airlines brands its regional flights.""It is not standard to have aircraft collide. I'll be clear on that,"" Transportation Secretary Sean Duffy said at the press conference. ""But prior to the collision, the flight paths that were being flown from the military and from American, that was not unusual for what happens in the D.C. airspace.""Isom added that the airline has activated its care team to assist in recovery efforts.""We're absolutely heartbroken for the family and loved ones of the passengers and crew members and also for those that were on the military aircraft. Our focus right now is doing everything that we can to support all of those involved and also the PSA Airlines team,"" he said.The commercial jet was flying from Wichita, Kansas, to Ronald Reagan Washington National Airport and was moments away from landing on the airport runway. Both vehicles crashed into the Potomac River.Isom urged people to call American's designated helpline at 1-800-679-8215 to find information on their loved ones.Isom, who traveled to Washington on Wednesday night, said American's ""go team"" has also been deployed to Washington to provide resources for passengers' and crew members' families and loved ones. Sixty-four people were aboard the flight, including 60 passengers and four crew members.Passengers included American and Russian elite figure skaters, their coaches and family members. U.S. Figure Skating said in a statement that the skaters were returning from a training camp in Wichita.Isom said American is working with local, state and federal authorities on the recovery efforts and that PSA Airlines is cooperating with the National Transportation Safety Board's investigation.""I know that there are many questions at this early stage that I just won't be able to answer, but we'll provide additional information as it comes,"" Isom said.",CNBC,30/01/2025,"[""In this articleAmerican Airlines CEO Robert Isom said Thursday morning that the regional jet that collided with a Black Hawk military helicopter near Washington, D.C's Reagan National Airport on Wednesday night was on a standard flight path."", 'The collision between American Eagle Flight 5342 and the helicopter occurred at about 9 p.m. Wednesday.', 'Officials do not expect to find any survivors.', '""At this time, we don\'t know why the military aircraft came into the path of the PSA aircraft,"" Isom said at a Thursday morning press conference.', 'Isom said in a staff note Thursday that the National Transportation Safety Board would be the ""sole source of truth going forward, and accuracy is of the utmost importance.', '""PSAAirlinesis an American Airlines subsidiary and one of its regional carriers.', 'American Eagle is how American Airlines brands its regional flights.', '""It is not standard to have aircraft collide.', 'I\'ll be clear on that,"" Transportation Secretary Sean Duffy said at the press conference. ""', 'But prior to the collision, the flight paths that were being flown from the military and from American, that was not unusual for what happens in the D.C. airspace.', '""Isom added that the airline has activated its care team to assist in recovery efforts.', '""We\'re absolutely heartbroken for the family and loved ones of the passengers and crew members and also for those that were on the military aircraft.', 'Our focus right now is doing everything that we can to support all of those involved and also the PSA Airlines team,"" he said.', 'The commercial jet was flying from Wichita, Kansas, to Ronald Reagan Washington National Airport and was moments away from landing on the airport runway.', 'Both vehicles crashed into the Potomac River.', ""Isom urged people to call American's designated helpline at 1-800-679-8215 to find information on their loved ones."", 'Isom, who traveled to Washington on Wednesday night, said American\'s ""go team"" has also been deployed to Washington to provide resources for passengers\' and crew members\' families and loved ones.', 'Sixty-four people were aboard the flight, including 60 passengers and four crew members.', 'Passengers included American and Russian elite figure skaters, their coaches and family members.', 'U.S. Figure Skating said in a statement that the skaters were returning from a training camp in Wichita.', ""Isom said American is working with local, state and federal authorities on the recovery efforts and that PSA Airlines is cooperating with the National Transportation Safety Board's investigation."", '""I know that there are many questions at this early stage that I just won\'t be able to answer, but we\'ll provide additional information as it comes,"" Isom said.']",0.1168998218720883,"Isom said in a staff note Thursday that the National Transportation Safety Board would be the ""sole source of truth going forward, and accuracy is of the utmost importance.","But prior to the collision, the flight paths that were being flown from the military and from American, that was not unusual for what happens in the D.C. airspace.",,,,2025-02-02
+Shein ramps up charm offensive as London IPO nears,https://www.cnbc.com/2025/01/31/shein-releases-product-safety-data-ahead-of-london-ipo.html,2025-01-31T18:02:39+0000,"Shein is ramping up its charm offensive again as the fast-fashion giant eyes a public listing in London as soon as this year. The retailer issued a press release on Friday detailing the steps it's taking to keep the items it sells safe. The announcement came about a week after its first product safety recall in the U.S. since 2021. Shein said it conducted more than 2 million product safety tests last year using industry-leading labs such as Bureau Veritas and Intertek, adding that its vendors are required to submit documentation for items like toys, baby products, medical devices and electronics. Shein made the announcement, which included details on its sustainability initiatives and a new nonprofit foundation it set up, as the company looks to win over lawmakers in the U.K. and ease concerns that it's selling unsafe products that are made with forced labor. Last week, Shein recalled more than 300 hair dryer brushes because they posed an electrocution or shock hazard to consumers. The Teckwe Hair Dryer Brush appeared to be a so-called dupe of a similar product sold by Dyson. No injuries were reported and Shein is offering a refund to impacted customers. A spokesperson for Shein told CNBC the company conducted safety tests on products it sells itself and did ""risk-based, randomized testing"" on items sold by third-party vendors on its marketplace before their listing.Product safety testing is common for items that a retailer sells, even if they're online only, because they could be held liable for defects under consumer protection laws in the U.S. On the other hand, a retailer's liability is less clear for third-party sellers on an online marketplace, which makes product testing prior to an item's listing unusual.Shein's decision to conduct product safety tests on items sold by third-party sellers makes it stand out in an industry that has been rife with safety concerns. Typically, online marketplaces just require sellers to conduct their own testing and provide documentation to support it.Shein added in its press release that it terminated more than 260 sellers on its marketplace over the last year for not meeting compliance requirements. Shein's campaign to show it takes product safety and sustainability seriously comes as it prepares to go public in the U.K. — and follows a similar charm offensive in the U.S. before its doomed initial public offering bid there.Earlier this month, U.K. lawmakers criticized attorneys for Shein when they appeared before a British parliamentary hearing and evaded questions about the company's supply chain and whether it sells products made with cotton from China, The Associated Press reported. Shein's general counsel in Europe, Yinan Zhu, repeatedly declined to say whether the company's products contain cotton from Xinjiang and whether the company prohibits suppliers from sourcing raw materials in the region, which has become notorious for its Uyghur detention camps. When asked whether the company believes there is forced labor in Xinjiang, Zhu said it wasn't the company's place to have a ""geopolitical debate"" and repeated a line Shein often uses when grilled on its supply chain, ""We comply with the laws and regulations in the countries that we operate in.""Committee Chairman Liam Byrne said Zhu's refusal to answer questions left lawmakers ""horrified"" and gave them ""zero confidence"" in the integrity of Shein's supply chain.  ""The reluctance to answer basic questions has frankly bordered on contempt,"" Byrne said.Throughout 2023, when Shein was still hoping for a U.S. IPO, it commonly spoke publicly about its cotton supply chain and the tests it had conducted to ensure it wasn't sourcing from banned regions. It even told CNBC it had stopped sourcing cotton from China altogether. Shein did not make similar statements in the parliamentary hearing.",CNBC,31/01/2025,"['Shein is ramping up its charm offensive again as the fast-fashion giant eyes a public listing in London as soon as this year.', ""The retailer issued a press release on Friday detailing the steps it's taking to keep the items it sells safe."", 'The announcement came about a week after its first product safety recall in the U.S. since 2021.Shein said it conducted more than 2 million product safety tests last year using industry-leading labs such as Bureau Veritas and Intertek, adding that its vendors are required to submit documentation for items like toys, baby products, medical devices and electronics.', ""Shein made the announcement, which included details on its sustainability initiatives and a new nonprofit foundation it set up, as the company looks to win over lawmakers in the U.K. and ease concerns that it's selling unsafe products that are made with forced labor."", 'Last week, Shein recalled more than 300 hair dryer brushes because they posed an electrocution or shock hazard to consumers.', 'The Teckwe Hair Dryer Brush appeared to be a so-called dupe of a similar product sold by Dyson.', 'No injuries were reported and Shein is offering a refund to impacted customers.', 'A spokesperson for Shein told CNBC the company conducted safety tests on products it sells itself and did ""risk-based, randomized testing"" on items sold by third-party vendors on its marketplace before their listing.', ""Product safety testing is common for items that a retailer sells, even if they're online only, because they could be held liable for defects under consumer protection laws in the U.S. On the other hand, a retailer's liability is less clear for third-party sellers on an online marketplace, which makes product testing prior to an item's listing unusual."", ""Shein's decision to conduct product safety tests on items sold by third-party sellers makes it stand out in an industry that has been rife with safety concerns."", 'Typically, online marketplaces just require sellers to conduct their own testing and provide documentation to support it.', 'Shein added in its press release that it terminated more than 260 sellers on its marketplace over the last year for not meeting compliance requirements.', ""Shein's campaign to show it takes product safety and sustainability seriously comes as it prepares to go public in the U.K. — and follows a similar charm offensive in the U.S. before its doomed initial public offering bid there."", ""Earlier this month, U.K. lawmakers criticized attorneys for Shein when they appeared before a British parliamentary hearing and evaded questions about the company's supply chain and whether it sells products made with cotton from China, The Associated Press reported."", ""Shein's general counsel in Europe, Yinan Zhu, repeatedly declined to say whether the company's products contain cotton from Xinjiang and whether the company prohibits suppliers from sourcing raw materials in the region, which has become notorious for its Uyghur detention camps."", 'When asked whether the company believes there is forced labor in Xinjiang, Zhu said it wasn\'t the company\'s place to have a ""geopolitical debate"" and repeated a line Shein often uses when grilled on its supply chain, ""We comply with the laws and regulations in the countries that we operate in.', '""Committee Chairman Liam Byrne said Zhu\'s refusal to answer questions left lawmakers ""horrified"" and gave them ""zero confidence"" in the integrity of Shein\'s supply chain.', '""The reluctance to answer basic questions has frankly bordered on contempt,"" Byrne said.', ""Throughout 2023, when Shein was still hoping for a U.S. IPO, it commonly spoke publicly about its cotton supply chain and the tests it had conducted to ensure it wasn't sourcing from banned regions."", 'It even told CNBC it had stopped sourcing cotton from China altogether.', 'Shein did not make similar statements in the parliamentary hearing.']",0.0373540623072744,Shein's decision to conduct product safety tests on items sold by third-party sellers makes it stand out in an industry that has been rife with safety concerns.,"""The reluctance to answer basic questions has frankly bordered on contempt,"" Byrne said.",-0.1423512160778045,"Shein made the announcement, which included details on its sustainability initiatives and a new nonprofit foundation it set up, as the company looks to win over lawmakers in the U.K. and ease concerns that it's selling unsafe products that are made with forced labor.","""Committee Chairman Liam Byrne said Zhu's refusal to answer questions left lawmakers ""horrified"" and gave them ""zero confidence"" in the integrity of Shein's supply chain.",2025-02-02
+FAA to restrict helicopter traffic around D.C. airport after fatal airplane collision,https://www.cnbc.com/2025/01/31/faa-restricts-airspace-dca-washington-aiport-crash.html,2025-01-31T23:08:54+0000,"In this articleWASHINGTON — The Federal Aviation Administration will restrict helicopter traffic around Ronald Reagan Washington National Airport in Washington, D.C., after the fatal collision of Army Black Hawk helicopter with an American Airlines jetliner earlier this week, Transportation Secretary Sean Duffy said Friday.""Today's decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today's action is a significant step towards restoring that trust.""The restricted area includes Memorial Bridge to South Capitol Street Bridge, excluding the Tidal Basin; Haines Point to Wilson Bridge; and the airspace above the airport, Duffy said in the post.National Transportation Safety Board member Todd Inman said at a briefing Thursday afternoon that helicopters operate in zones, or tracks, in Washington. ""This one was transitioning from track one to four as part of their normal procedure,"" he said. ""If you live in D.C., you see a lot of helicopters going down into this area. So there's a very well-defined system.""American Eagle Flight 5342 was seconds away from landing at Reagan National Airport when it collided with the Army helicopter on Wednesday night. All 64 people on board the plane and all three people on the helicopter died. It was the first deadly commercial airline crash in the U.S. in more than 15 years and the deadliest since 2001.American Airlines CEO Robert Isom said Thursday that it was not clear ""why the military aircraft came into the path"" of its aircraft. On Friday, Isom thanked President Donald Trump ""for his leadership on aviation safety. I applaud him, Secretary Duffy and the Administration for taking quick and decisive action today to restrict helicopter activity around DCA.""Investigators on Friday continued their investigation, looking at aspects such as the altitude of the aircraft, staffing and communication with air traffic controllers.The American Airlines plane, a regional CRJ700 that was arriving from Wichita, Kansas, was flying at about 300 feet on its final approach when it collided with the Black Hawk.According to FAA rules, helicopters, which routinely cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.",CNBC,31/01/2025,"['In this articleWASHINGTON — The Federal Aviation Administration will restrict helicopter traffic around Ronald Reagan Washington National Airportin Washington, D.C., after the fatal collision of Army Black Hawk helicopter with an American Airlines jetliner earlier this week, Transportation Secretary Sean Duffy said Friday.', '""Today\'s decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today\'s action is a significant step towards restoring that trust.', '""The restricted area includes Memorial Bridge to South Capitol Street Bridge, excluding the Tidal Basin; Haines Point to Wilson Bridge; and the airspace above the airport, Duffy said in the post.', 'National Transportation Safety Board member Todd Inman said at a briefing Thursday afternoon that helicopters operate in zones, or tracks, in Washington. ""', 'This one was transitioning from track one to four as part of their normal procedure,"" he said. ""', 'If you live in D.C., you see a lot of helicopters going down into this area.', ""So there's a very well-defined system."", '""American Eagle Flight 5342 was seconds away from landing at Reagan National Airport when it collided with the Army helicopter on Wednesday night.', 'All 64 people on board the plane and all three people on the helicopter died.', 'It was the first deadly commercial airline crash in the U.S. in more than 15 years and the deadliest since 2001.American Airlines CEO Robert Isom said Thursday that it was not clear ""why the military aircraft came into the path"" of its aircraft.', 'On Friday, Isom thanked President Donald Trump""for his leadership on aviation safety.', 'I applaud him, Secretary Duffy and the Administration for taking quick and decisive action today to restrict helicopter activity around DCA.""Investigators on Friday continued their investigation, looking at aspects such as the altitude of the aircraft, staffing and communication with air traffic controllers.', 'The American Airlines plane, a regional CRJ700 that was arriving from Wichita, Kansas, was flying at about 300 feet on its final approach when it collided with the Black Hawk.', 'According to FAA rules, helicopters, which routinely cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.']",0.0261326675356146,"""Today's decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today's action is a significant step towards restoring that trust.","In this articleWASHINGTON — The Federal Aviation Administration will restrict helicopter traffic around Ronald Reagan Washington National Airportin Washington, D.C., after the fatal collision of Army Black Hawk helicopter with an American Airlines jetliner earlier this week, Transportation Secretary Sean Duffy said Friday.",0.412668228149414,"""Today's decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today's action is a significant step towards restoring that trust.","It was the first deadly commercial airline crash in the U.S. in more than 15 years and the deadliest since 2001.American Airlines CEO Robert Isom said Thursday that it was not clear ""why the military aircraft came into the path"" of its aircraft.",2025-02-02
+Levi beats earnings estimates but expects pressure this year from strong U.S. dollar,https://www.cnbc.com/2025/01/29/levi-strauss-levi-earnings-q4-2024.html,2025-01-29T22:04:22+0000,"In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses. The company said it expects sales to decline between 1% and 2%, well behind estimates of 3.7% growth, according to LSEG. It also anticipates adjusted earnings per share will be between $1.20 and $1.25, below estimates of $1.37, according to LSEG. Shares fell about 6% in extended trading.CEO Michelle Gass told CNBC the expected drop in revenue in the current fiscal year does not reflect slower demand, but is more due to the currency trends, one fewer fiscal week and the divested businesses.Levi ended fiscal 2024 on a high note and reported earnings and sales that both topped expectations. Here is how the apparel company fared during its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Dec. 1 was $182.6 million, or 46 cents per share, compared with $126.8 million, or 32 cents per share, a year earlier. Excluding one-time expenses related to impairments, restructurings, acquisitions and leases, among other items, Levi reported adjusted net income of $202 million, or 50 cents per share, compared with adjusted profits of $179 million, or 44 cents per share, a year earlier. Sales rose to $1.84 billion, up about 12% from $1.64 billion a year earlier. Organic sales, which exclude an extra 53rd week Levi had during the quarter, along with foreign exchange effects and divested businesses, grew 8%. Since Gass took the helm of Levi a year ago, she has moved swiftly to cut aspects of the business that weren't working, grow higher margin sales on its website and stores, boost profitability and bring more female customers to the brand. Under her leadership, Levi inked a high-profile marketing partnership with Beyonce in September after she released a song about the brand on her album ""Cowboy Carter"" earlier in the year. ""Of course, we have to acknowledge the Beyonce effect. We are very pleased with the launch of that campaign, which we're seeing drive demand across the business,"" Gass said in an interview with CNBC.Gass has been working to bring more women to Levi, which traditionally has drawn more men, because women tend to spend more money and shop for new clothes more often. Women's apparel is now about 36% of Levi's overall business, up slightly from a year ago, but Gass said it should represent about half over time.The company has won female shoppers over not only with loose and wide-legged denim fits, but also with a wide range of new tops such as woven shirts and blouses. During the quarter, Levi saw strong sales increases across all of its regions, brands and channels. Sales in the Americas grew 12%, Europe increased 15% and Asia expanded 9%. Sales for its Beyond Yoga brand spiked 10%. Direct-to-consumer sales increased 19% and made up 45% of total organic net sales, which includes the extra selling week, currency fluctuations and the divested businesses. Wholesale revenues, which have been soft across the industry, grew 7% during the quarter. Since President Donald Trump was elected for a second term, all eyes have been on the retail industry to see what kind of effect his proposed tariffs could have on consumer prices and company profits. Levi's finance chief Harmit Singh said the company sources its products from 25 countries and less than 1% of it comes from China, which Trump has threatened with 10% tariffs. In Canada and Mexico, where Trump has suggested duties as high as 25%, Levi's exposure is minimal, as it only imports about 5% of products from Mexico and nothing from Canada. When asked if the company will raise prices if broad-based tariffs are implemented, Singh said it plans to work with its suppliers and look at its own costs so it can spare consumers as much as possible. The ""first objective would be to minimize the impact on the consumer. So we work internally with our suppliers, we look at our cost base, we look at other pricing opportunities and if we cannot cover it, obviously we got to protect the structural economics of the business,"" said Singh. ""At that point, we'll decide, you know, what should be passed on to the consumer or not, but we won't start from that. That's where we will end.""During the quarter, Levi posted what it called a record gross margin of 61.3%, up from 57.8% in the year-ago period, driven by lower product costs, higher full price sales and a better mix between direct and wholesale revenue. Still, Levi reported $111.4 million in impairment charges related to its Beyond Yoga brand for fiscal 2024, on top of the $90.2 million it reported in fiscal 2023, bringing those costs to $201.6 million in the years since it acquired the athleisure company in 2021 for $400 million. The brand and yoga category overall is growing, but Singh said Levi was potentially a bit ""aggressive"" in its expectations ""of how quickly the brand could grow."" The good news, he said, is Beyond Yoga is now led by Nancy Green, the former CEO of Gap's Athleta, who is credited with scaling the athleisure brand into a billion-dollar business. ""It's a category that's growing big time. I know there are other competitors, but we feel good about the management team and good about the potential growth for the business,"" said Singh.",CNBC,29/01/2025,"['In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses.', 'The company said it expects sales to decline between 1% and 2%, well behind estimates of 3.7% growth, according to LSEG.It also anticipates adjusted earnings per share will be between $1.20 and $1.25, below estimates of $1.37, according to LSEG.Shares fell about 6% in extended trading.', 'CEO Michelle Gass told CNBC the expected drop in revenue in the current fiscal year does not reflect slower demand, but is more due to the currency trends, one fewer fiscal week and the divested businesses.', 'Levi ended fiscal 2024 on a high note and reported earnings and sales that both topped expectations.', ""Here is how the apparel company fared during its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Dec. 1 was $182.6 million, or 46 cents per share, compared with $126.8 million, or 32 cents per share, a year earlier."", 'Excluding one-time expenses related to impairments, restructurings, acquisitions and leases, among other items, Levi reported adjusted net income of $202 million, or 50 cents per share, compared with adjusted profits of $179 million, or 44 cents per share, a year earlier.', 'Sales rose to $1.84 billion, up about 12% from $1.64 billion a year earlier.', ""Organic sales, which exclude an extra 53rd week Levi had during the quarter, along with foreign exchange effects and divested businesses, grew 8%.Since Gass took the helm of Levi a year ago, she has moved swiftly to cut aspects of the business that weren't working, grow higher margin sales on its website and stores, boost profitability and bring more female customers to the brand."", 'Under her leadership, Levi inked a high-profile marketing partnership with Beyonce in September after she released a song about the brand on her album ""Cowboy Carter"" earlier in the year.', '""Of course, we have to acknowledge the Beyonce effect.', 'We are very pleased with the launch of that campaign, which we\'re seeing drive demand across the business,"" Gass said in an interview with CNBC.Gass has been working to bring more women to Levi, which traditionally has drawn more men, because women tend to spend more money and shop for new clothes more often.', ""Women's apparel is now about 36% of Levi's overall business, up slightly from a year ago, but Gass said it should represent about half over time."", 'The company has won female shoppers over not only with loose and wide-legged denim fits, but also with a wide range of new tops such as woven shirts and blouses.', 'During the quarter, Levi saw strong sales increases across all of its regions, brands and channels.', 'Sales in the Americas grew 12%, Europe increased 15% and Asia expanded 9%.', 'Sales for its Beyond Yoga brand spiked 10%.', 'Direct-to-consumer sales increased 19% and made up 45% of total organic net sales, which includes the extra selling week, currency fluctuations and the divested businesses.', 'Wholesale revenues, which have been soft across the industry, grew 7% during the quarter.', 'Since President Donald Trump was elected for a second term, all eyes have been on the retail industry to see what kind of effect his proposed tariffs could have on consumer prices and company profits.', ""Levi's finance chief Harmit Singh said the company sources its products from 25 countries and less than 1% of it comes from China, which Trump has threatened with 10% tariffs."", ""In Canada and Mexico, where Trump has suggested duties as high as 25%, Levi's exposure is minimal, as it only imports about 5% of products from Mexico and nothing from Canada."", 'When asked if the company will raise prices if broad-based tariffs are implemented, Singh said it plans to work with its suppliers and look at its own costs so it can spare consumers as much as possible.', 'The ""first objective would be to minimize the impact on the consumer.', 'So we work internally with our suppliers, we look at our cost base, we look at other pricing opportunities and if we cannot cover it, obviously we got to protect the structural economics of the business,"" said Singh. ""', ""At that point, we'll decide, you know, what should be passed on to the consumer or not, but we won't start from that."", ""That's where we will end."", '""During the quarter, Levi posted what it called a record gross margin of 61.3%, up from 57.8% in the year-ago period, driven by lower product costs, higher full price sales and a better mix between direct and wholesale revenue.', 'Still, Levi reported $111.4 million in impairment charges related to its Beyond Yoga brand for fiscal 2024, on top of the $90.2 million it reported in fiscal 2023, bringing those costs to $201.6 million in the years since it acquired the athleisure company in 2021 for $400 million.', 'The brand and yoga category overall is growing, but Singh said Levi was potentially a bit ""aggressive"" in its expectations ""of how quickly the brand could grow.', '""The good news, he said, is Beyond Yoga is now led by Nancy Green, the former CEO of Gap\'s Athleta, who is credited with scaling the athleisure brand into a billion-dollar business.', '""It\'s a category that\'s growing big time.', 'I know there are other competitors, but we feel good about the management team and good about the potential growth for the business,"" said Singh.']",0.1865124968863482,"I know there are other competitors, but we feel good about the management team and good about the potential growth for the business,"" said Singh.","In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses.",0.6506836305965077,"Organic sales, which exclude an extra 53rd week Levi had during the quarter, along with foreign exchange effects and divested businesses, grew 8%.Since Gass took the helm of Levi a year ago, she has moved swiftly to cut aspects of the business that weren't working, grow higher margin sales on its website and stores, boost profitability and bring more female customers to the brand.","In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses.",2025-02-02
+"Starbucks earnings top estimates, but same-store sales decline for fourth straight quarter",https://www.cnbc.com/2025/01/28/starbucks-sbux-q1-2025-earnings.html,2025-01-29T15:36:22+0000,"In this articleStarbucks on Tuesday reported that its same-store sales slid for the fourth consecutive quarter, but the company's quarterly earnings and revenue beat Wall Street's expectations.The coffee giant kicked off a turnaround plan last quarter in the hopes of reviving its U.S. business, which has slumped over the past year.""While we have room for improvement, we're making progress as planned, and have confidence we're on the right track,"" CEO Brian Niccol said in a video released on the company's website Tuesday afternoon.He added that the company has seen a ""positive response"" to the early steps it has taken. Those tweaks have included removing extra charges for nondairy milk options, focusing its marketing on its coffee and slashing 30% of its food and beverage menu items by the end of fiscal 2025.Here is what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Starbucks reported fiscal first-quarter net income attributable to the company of $780.8 million, or 69 cents per share, down from $1.02 billion, or 90 cents per share, a year earlier.The company's net sales of $9.4 billion were unchanged from a year earlier.Starbucks' same-store sales fell 4%, fueled by a 6% decline in traffic to its stores. Wall Street was expecting a steeper drop of 5.5%, according to StreetAccount estimates. Both its U.S. and international locations outperformed expectations.U.S. same-store sales slid 4% as traffic to its cafes fell 8%. Under Niccol, who took the reins in September, the company has been trying to turn around its U.S. business by getting ""back to Starbucks"" and returning its focus to coffee and the customer experience.Starbucks has also been cutting back on deals, so its discounted transactions fell 40% during the quarter. Niccol credited the pullback in discounts for the chain's sales improvement throughout the quarter.Outside of its home market, same-store sales also declined 4%.Starbucks' same-store sales in China, its second-largest market, fell 6%, fueled by a 4% decline in average ticket. The coffee giant has been leaning into discounts in China to compete with rivals that have much lower prices, such as Luckin Coffee.Niccol said he made his first visit to stores in China last week. The company is exploring strategic partnerships to grow its business in the country.""We're processing these learnings, and we will share more as we do,"" he told analysts on the company's conference call.In October, the company suspended its forecast for fiscal 2025, citing the turnaround efforts. On Tuesday's call, executives also backed away from a target of $4 billion in supply-chain cost savings by 2028; Niccol's predecessor Laxman Narasimhan had shared that number in April 2024, just as sales began to shrink and months before he was out of the job.Starbucks is also planning fewer new locations and renovations in fiscal 2025 to free up capital to fuel its comeback. However, Niccol sees strong demand for more cafes in the long term.""In the U.S. alone, we still see the potential to double our store count, while improving the overall health of our portfolio. We'll do this through a strong store renovation program, new store builds, and store closures,"" Niccol said.The company is also trying to improve its speed of service by scheduling more workers, removing bottlenecks behind its coffee counters and making baristas' jobs easier.For example, Starbucks plans to prioritize installing its Siren equipment in its busiest locations, Niccol said. The new equipment includes a custom ice dispenser, milk-dispensing system and faster blenders so baristas can make drinks more quickly.Starbucks is also piloting a new algorithm to manage the order that baristas should make both mobile and in-store drinks. If successful, the algorithm could solve Starbucks' overcrowded pick-up counters that cause frustration for both customers and baristas.Niccol also has plans for Starbucks' corporate workforce. He has been reorganizing the company's structure, including splitting the role of North American president into two jobs. Earlier on Tuesday, the company announced it has hired two alumni from Taco Bell, Niccol's employer prior to Chipotle.In early March, the company is planning to lay off workers, although Starbucks has not yet shared how many jobs will be affected.",CNBC,29/01/2025,"[""In this articleStarbucks on Tuesday reported that its same-store sales slid for the fourth consecutive quarter, but the company's quarterly earnings and revenue beat Wall Street's expectations."", 'The coffee giant kicked off a turnaround plan last quarter in the hopes of reviving its U.S. business, which hasslumpedover the past year.', '""While we have room for improvement, we\'re making progress as planned, and have confidence we\'re on the right track,"" CEO Brian Niccol said in a video released on the company\'s website Tuesday afternoon.', 'He added that the company has seen a ""positive response"" to the early steps it has taken.', 'Those tweaks have included removing extra charges for nondairy milk options, focusing its marketing on its coffee and slashing 30% of its food and beverage menu items by the end of fiscal 2025.Here is what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Starbucks reported fiscal first-quarter net income attributable to the company of $780.8 million, or 69 cents per share, down from $1.02 billion, or 90 cents per share, a year earlier.', ""The company's net salesof $9.4 billion were unchanged from a year earlier."", ""Starbucks' same-store sales fell 4%, fueled by a 6% decline in traffic to its stores."", 'Wall Street was expecting a steeper drop of 5.5%, according to StreetAccount estimates.', 'Bothits U.S. and international locations outperformed expectations.', 'U.S. same-store sales slid 4% as traffic to its cafes fell 8%.', 'Under Niccol, who took the reins in September, the company has been trying to turn around its U.S. business by getting ""back to Starbucks"" and returning its focus to coffee and the customer experience.', 'Starbucks has also been cutting back on deals, so its discounted transactions fell 40% during the quarter.', ""Niccol credited the pullback in discounts for the chain's sales improvement throughout the quarter."", ""Outside of its home market, same-store sales also declined 4%.Starbucks' same-store sales in China, its second-largest market, fell 6%, fueled by a 4% decline in average ticket."", 'The coffee giant has been leaning into discounts in China to compete with rivals that have much lower prices, such as Luckin Coffee.', 'Niccol said he made his first visit to stores in China last week.', 'The company is exploring strategic partnerships to grow its business in the country.', '""We\'re processing these learnings, and we will share more as we do,"" he told analysts on the company\'s conference call.', 'In October, the company suspended its forecast for fiscal 2025, citing the turnaround efforts.', ""On Tuesday's call, executives also backed away from a target of $4 billion in supply-chain cost savings by 2028; Niccol's predecessor Laxman Narasimhan had shared that number in April 2024, just as sales began to shrink and months before he was out of the job."", 'Starbucks is also planning fewer new locations and renovations in fiscal 2025 to free up capital to fuel its comeback.', 'However, Niccol sees strong demand for more cafes in the long term.', '""In the U.S. alone, we still see the potential to double our store count, while improving the overall health of our portfolio.', 'We\'ll do this through a strong store renovation program, new store builds, and store closures,"" Niccol said.', ""The company is also trying to improve its speed of service by scheduling more workers, removing bottlenecks behind its coffee counters and making baristas' jobs easier."", 'For example, Starbucks plans to prioritize installing its Siren equipment in its busiest locations, Niccol said.', 'The new equipment includes a custom ice dispenser, milk-dispensing system and faster blenders so baristas can make drinks more quickly.', 'Starbucks is also piloting a new algorithm to manage the order that baristas should make both mobile and in-store drinks.', ""If successful, the algorithm could solve Starbucks' overcrowded pick-up counters that cause frustration for both customers and baristas."", ""Niccol also has plans for Starbucks' corporate workforce."", ""He has been reorganizing the company's structure, including splitting the role of North American president into two jobs."", ""Earlier on Tuesday, the company announced it has hired two alumni from Taco Bell, Niccol's employer prior to Chipotle."", 'In early March, the company is planning to lay off workers, although Starbucks has not yet shared how many jobs will be affected.']",0.1369357205579486,"""While we have room for improvement, we're making progress as planned, and have confidence we're on the right track,"" CEO Brian Niccol said in a video released on the company's website Tuesday afternoon.","In October, the company suspended its forecast for fiscal 2025, citing the turnaround efforts.",0.2201510667800903,"""In the U.S. alone, we still see the potential to double our store count, while improving the overall health of our portfolio.",U.S. same-store sales slid 4% as traffic to its cafes fell 8%.,2025-02-02
+Trump’s 25% tariffs on Mexico and Canada to challenge the global auto industry,https://www.cnbc.com/2025/01/31/trumps-25percent-tariffs-this-is-whats-at-stake-for-us-auto-industry.html,2025-02-02T01:48:18+0000,"DETROIT — Tariffs announced Saturday by the Trump administration of 25% on goods from Canada and Mexico as well as an additional 10% on products from China are expected to have a profound impact on the global automotive industry.For months, automakers have been taking a ""wait-and-see"" approach to the Trump administration's tariff threat. That waiting period is coming to an end and automakers will likely need to implement prior contingency plans to attempt to offset additional costs in the coming weeks and months.Depending on the details, the tariffs on Mexico could have the greatest impact on the automotive industry, followed by Canada and then China, depending on the automaker.""Any tariff action must be followed with a renegotiation of the [United States-Mexico-Canada Agreement], and a full review of the corporate trade regime that has devastated the American and global working class,"" Shawn Fain, president of the United Auto Workers Union, said in a statement.General Motors and other major automakers did not immediately respond for comment regarding the tariffs Saturday night. Others such as Ford declined to comment, while Honda issued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.""Most major automakers have factories in the U.S. However, they still rely heavily on imports from other countries including Mexico to meet American consumer demand.Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.A tariff is a tax on imports, or foreign goods, brought into the United States. The companies importing the goods pay the tariffs, and some fear the companies would simply pass any additional costs on to consumers — raising the cost of vehicles and potentially reducing demand.The formal announcement provides some clarity for companies but could cost automakers, many of which have produced vehicles without tariffs in Canada and Mexico for decades, billions of dollars.Uncertainty about trade took a toll on GM on Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter. ""Our key take from GM's 4Q [earnings] result is that while the opportunity for GM is highly compelling, US policy uncertainty must be navigated for the time being,"" Barclays analyst Dan Levy said in an investor note Wednesday.GM did not account for potential tariffs in its guidance, which CFO Paul Jacobson described as a ""cautious"" approach given no duties on North American goods had been implemented yet.Both Jacobson and GM CEO Mary Barra said the company has contingency plans for any actions, but that wasn't enough to appease anxious investors.""There's just so much noise,"" Jacobson told investors Tuesday, citing the inauguration and California wildfires, among other issues and events. ""We're being cautious until we get a little bit more smooth data from the marketplace just because January was so noisy.""Tariffs could have a massive effect on the global automotive industry and potentially reduce earnings for companies such as GM, which has significant manufacturing operations across North America.""Regardless of timing, these blanket tariffs would have a massive impact on the auto industry,"" S&P Global Mobility said in a report this week. ""Virtually no [automaker] or supplier"" operating in North America would be immune, according to the report.Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.The industry is deeply integrated between the countries, with Mexico importing 49.4% of all auto parts from the U.S. In turn, Mexico exports 86.9% of its auto parts production to the U.S., according to the International Trade Administration.Wells Fargo estimates that 25% tariffs on Mexico and Canada imports would cost the traditional Detroit automaker billions of dollars a year. The firm estimates the impact of 5%, 10% and 25% tariffs on GM, Ford Motor and Chrysler parent Stellantis would collectively be $13 billion, $25 billion and $56 billion, respectively.S&P Global Mobility, formerly IHS Markit, estimates a 25% duty on a $25,000 vehicle from Canada or Mexico would add $6,250 to its cost — some if not most of which could be passed on to the consumer.S&P Mobility reports plants in Canada and Mexico produce roughly 5.3 million vehicles, with about 70% — nearly 4 million — destined for the U.S.Mexico accounted for a majority of those vehicles, as five automakers — Ford, GM, Stellantis, Toyota Motor and Honda — produced only an estimated 1.3 million light-duty vehicles in 2024 in Canada, largely for the U.S. market, according to a Canadian manufacturing nonprofit research group.Some of those automakers also heavily rely on production in Mexico, but not all producers would face the same disruptions. On a percentage of sales basis, German automaker Volkswagen is the most exposed to tariff risk in Mexico, followed by Nissan Motor and Stellantis, S&P Global Mobility reports.""We are working, obviously, on scenarios,"" Antonio Filosa, head of Stellantis' North American operations, said Jan. 10. ""But yes, we need to await his decisions and after the decision of Mr. Trump and his administration, we will work accordingly.""Here are the automakers that are most exposed to tariffs on vehicles imported from Mexico, based on the percentage of their U.S. sales being produced south of the border:",CNBC,02/02/2025,"['DETROIT —Tariffsannounced Saturday by the Trump administration of 25% on goods from Canada and Mexico as well as an additional 10% on products from China are expected to have a profound impact on the global automotive industry.', 'For months, automakers have been taking a""wait-and-see"" approachto the Trump administration\'s tariff threat.', 'That waiting period is coming to an end and automakers will likely need to implement prior contingency plans to attempt to offset additional costs in the coming weeks and months.', 'Depending on the details, the tariffs on Mexico could have the greatest impact on the automotive industry, followed by Canada and then China, depending on the automaker.', '""Any tariff action must be followed with a renegotiation of the [United States-Mexico-Canada Agreement], and a full review of the corporate trade regime that has devastated the American and global working class,"" Shawn Fain, president of the United Auto Workers Union, said in a statement.', 'General Motors and other major automakers did not immediately respond for comment regarding the tariffs Saturday night.', 'Others such as Ford declined to comment, whileHondaissued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.', '""Most major automakers have factories in the U.S. However, they still rely heavily on imports from other countries including Mexico to meet American consumer demand.', 'Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.A tariff is a tax on imports, or foreign goods, brought into the United States.', 'The companies importing the goods pay the tariffs, and some fear the companies would simply pass any additional costs on to consumers — raising the cost of vehicles and potentially reducing demand.', 'The formal announcement provides some clarity for companies but could cost automakers, many of which have produced vehicles without tariffs in Canada and Mexico for decades, billions of dollars.', ""Uncertainty about tradetook a toll on GMon Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter."", '""Our key take from GM\'s 4Q [earnings] result is that while the opportunity for GM is highly compelling, US policy uncertainty must be navigated for the time being,"" Barclays analyst Dan Levy said in an investor note Wednesday.', 'GM did not account for potential tariffs in its guidance, which CFO Paul Jacobson described as a ""cautious"" approach given no duties on North American goods had been implemented yet.', ""Both Jacobson and GM CEO Mary Barra said the company has contingency plans for any actions, but that wasn't enough to appease anxious investors."", '""There\'s just so much noise,"" Jacobson told investors Tuesday, citing the inauguration and California wildfires, among other issues and events. ""', ""We're being cautious until we get a little bit more smooth data from the marketplace just because January was so noisy."", '""Tariffs could have a massive effect on the global automotive industry and potentially reduce earnings for companies such as GM, which has significant manufacturing operations across North America.', '""Regardless of timing, these blanket tariffs would have a massive impact on the auto industry,"" S&P Global Mobility said in a report this week. ""', 'Virtually no [automaker] or supplier"" operating in North America would be immune, according to the report.', 'Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.The industry is deeply integrated between the countries, with Mexico importing 49.4% of all auto parts from the U.S. In turn, Mexico exports 86.9% of its auto parts production to the U.S., according to the International Trade Administration.', 'Wells Fargo estimates that 25% tariffs on Mexico and Canada imports would cost the traditional Detroit automaker billions of dollars a year.', 'The firm estimates the impact of 5%, 10% and 25% tariffs on GM, Ford Motor and Chrysler parent Stellantis would collectively be $13 billion, $25 billion and $56 billion, respectively.', 'S&P Global Mobility, formerly IHS Markit, estimates a 25% duty on a $25,000 vehicle from Canada or Mexico would add $6,250 to its cost — some if not most of which could be passed on to the consumer.', 'S&P Mobility reports plants in Canada and Mexico produce roughly 5.3 million vehicles, with about 70% — nearly 4 million — destined for the U.S.Mexico accounted for a majority of those vehicles, as five automakers— Ford, GM, Stellantis, Toyota Motor and Honda — produced onlyan estimated 1.3 million light-duty vehicles in 2024 in Canada, largely for the U.S. market, according to a Canadian manufacturing nonprofit research group.', 'Some of those automakers also heavily rely on production in Mexico, but not all producers would face the same disruptions.', 'On a percentage of sales basis, German automaker Volkswagen is the most exposed to tariff risk in Mexico, followed by Nissan Motor and Stellantis, S&P Global Mobility reports.', '""We are working, obviously, on scenarios,"" Antonio Filosa, head of Stellantis\' North American operations, said Jan. 10. ""', 'But yes, we need to await his decisions and after the decision of Mr. Trump and his administration, we will work accordingly.', '""Here are the automakers that are most exposed to tariffs on vehicles imported from Mexico, based on the percentage of their U.S. sales being produced south of the border:']",0.0148970696232496,"Others such as Ford declined to comment, whileHondaissued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.","Uncertainty about tradetook a toll on GMon Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter.",-0.4111230854804699,"Others such as Ford declined to comment, whileHondaissued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.","Uncertainty about tradetook a toll on GMon Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter.",2025-02-02
+"Comcast stock falls 11% after company underwhelms in broadband, Peacock subscribers",https://www.cnbc.com/2025/01/30/comcast-cmcsa-earnings-q4-2024.html,2025-01-30T21:15:07+0000,"In this articleComcast topped Wall Street's fourth-quarter estimates Thursday despite reporting larger-than-expected broadband subscriber losses and stagnating paid subscribers for its streaming service, Peacock.Wall Street has been particularly focused on cable companies' broadband businesses, which still garner high revenue and earnings but have been in the midst of a customer growth slump due to heightened competition from wireless companies, among other factors.At the same time, streaming has been top of mind for the Street. Although profitability is now considered the key measure of success, investors have taken note of recent subscriber additions by major players since the introduction of cheaper, ad-supported tiers.Comcast reported Thursday that it lost 139,000 residential broadband customers during the fourth quarter, more than the 100,000 losses that Comcast Cable CEO Dave Watson had telegraphed in December during an investor conference.Comcast President Mike Cavanagh on Thursday's investor call said the broadband losses were ""disappointing and worse than what we indicated in early December.""The company also reported Thursday that Peacock had 36 million subscribers during the most recent quarter, up year over year but flat from the prior period. Wall Street had been looking for total paid subscribers of 37.56 million, according to estimates from StreetAccount.Comcast shares fell 11% Thursday.Here is how the company performed for the quarter, compared with average analyst estimates from LSEG: For the quarter ended Dec. 31, net income attributable to Comcast rose roughly 47% to $4.78 billion, or $1.24 per share, compared with $3.26 billion, or 81 cents per share, a year earlier. Adjusting for one-time items, including interest expense and the value of certain assets, Comcast reported earnings per share of 96 cents for the period. Adjusted earnings before interest, taxes, depreciation and amortization was up about 10% to $8.81 billion. In addition to higher broadband revenue, Comcast's overall revenue was up 2% to $31.92 billion, thanks to an increase in segments including its mobile business, the film studio and revenue growth at streaming service Peacock. During the fourth quarter of 2023, Comcast reported revenue of $31.25 billion. Despite the slowdown in cable industry broadband customer growth, the business is a key driver on balance sheets like Comcast's as average revenue per user has risen. Broadband is part of Comcast's Connectivity and Platforms segment, which also includes Xfinity Mobile wireless, which was launched in 2017. The company surpassed 7.8 million mobile lines, and revenue from the unit helped propel overall residential connectivity revenue. Comcast executives Thursday said the company would shift focus to the mobile business in a push to add more lines and further bundle it with broadband. Watson said Thursday the company will ""put the pedal down"" on the mobile effort in the second quarter.Comcast lost 311,000 cable TV customers during the fourth quarter. Meanwhile, revenue for the company's Content and Experiences business, which includes NBCUniversal's TV networks and streaming, the film studio and theme parks, was up 5% to roughly $12.08 billion during the fourth quarter. Revenue for the media segment, which includes the TV networks, was up 3.5% to about $7.22 billion, namely due to higher revenue for Peacock due to an uptick in paid subscribers on the platform from the prior year. Overall domestic advertising for the media segment was flat as ad dollars for Peacock increased but the TV networks saw a smaller haul. The media segment reported $298 million in adjusted EBITDA, falling short of Wall Street expectations of $317.1 million for the quarter, according to StreetAccount estimates. The rest of the businesses in the content and experiences segment beat StreetAccount estimates, including overall adjusted EBITDA.In November, Comcast announced it would spin off its cable network channels, a portfolio that includes CNBC, MSNBC, E!, Syfy, USA, Oxygen and the Golf Channel. The separation, which will also include digital assets such as Fandango and Rotten Tomatoes, is expected to take about a year. The NBC broadcast network, cable channel Bravo and Peacock will remain with Comcast.Peacock has been moving toward profitability in recent quarters. On Thursday, Comcast reported Peacock had $1.3 billion in fourth-quarter revenue and an adjusted EBITDA loss of $372 million, compared with $1 billion in revenue and an adjusted EBITDA loss of $825 million in the same period last year. Peacock's subscriber growth often rises on the back of major live sporting events on the platform. The Summer Olympics in Paris was a key driver in the third quarter, when the platform added 3 million subscribers. Exclusive NFL games have helped pad the streamer's numbers, and the company has touted the addition of the NBA and WNBA next season.Universal Studios' revenue was up 6.7% to $3.27 billion, and the segment's adjusted EBITDA was up 85% to $569 million, boosted by the box office successes of films including ""Kung Fu Panda 4,"" ""Despicable Me 4,"" ""The Wild Robot"" and ""Wicked."" Meanwhile, Theme Parks revenue was flat as lower attendance persisted at domestic locations. Disclosure: Comcast owns NBCUniversal, the parent company of CNBC. NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.",CNBC,30/01/2025,"[""In this articleComcast topped Wall Street's fourth-quarter estimates Thursday despite reporting larger-than-expected broadband subscriber losses and stagnating paid subscribers for its streaming service, Peacock."", ""Wall Street has been particularly focused on cable companies' broadband businesses, which still garner high revenue and earnings but have been in the midst of a customer growth slump due to heightened competition from wireless companies, among other factors."", 'At the same time, streaming has been top of mind for the Street.', 'Although profitability is now considered the key measure of success, investors have taken note of recent subscriber additions by major players since the introduction of cheaper, ad-supported tiers.', 'Comcast reported Thursday that it lost 139,000 residential broadband customers during the fourth quarter, more than the 100,000 losses that Comcast Cable CEO Dave Watson had telegraphed in December during an investor conference.', 'Comcast President Mike Cavanagh on Thursday\'s investor call said the broadband losses were ""disappointing and worse than what we indicated in early December.', '""The company also reported Thursday that Peacock had 36 million subscribers during the most recent quarter, up year over year but flat from the prior period.', 'Wall Street had been looking for total paid subscribers of 37.56 million, according to estimates from StreetAccount.', 'Comcast shares fell 11% Thursday.', 'Here is how the company performed for the quarter, compared with average analyst estimates from LSEG:For the quarter ended Dec. 31, net income attributable to Comcast rose roughly 47% to $4.78 billion, or $1.24 per share, compared with $3.26 billion, or 81 cents per share, a year earlier.', 'Adjusting for one-time items, including interest expense and the value of certain assets, Comcast reported earnings per share of 96 cents for the period.', 'Adjusted earnings before interest, taxes, depreciation and amortization was up about 10% to $8.81 billion.', ""In addition to higher broadband revenue, Comcast's overall revenue was up 2% to $31.92 billion, thanks to an increase in segments including its mobile business, the film studio and revenue growth at streaming service Peacock."", 'During the fourth quarter of 2023, Comcast reported revenue of $31.25 billion.', ""Despite the slowdown in cable industry broadband customer growth, the business is a key driver on balance sheets like Comcast's as average revenue per user has risen."", ""Broadband is part of Comcast's Connectivity and Platforms segment, which also includes Xfinity Mobile wireless, which was launched in 2017."", 'The company surpassed 7.8 million mobile lines, and revenue from the unit helped propel overall residential connectivity revenue.', 'Comcast executives Thursday said the company would shift focus to the mobile business in a push to add more lines and further bundle it with broadband.', 'Watson said Thursday the company will ""put the pedal down"" on the mobile effort in the second quarter.', 'Comcast lost 311,000 cable TV customers during the fourth quarter.', ""Meanwhile, revenue for the company's Content and Experiences business, which includes NBCUniversal's TV networks and streaming, the film studio and theme parks, was up 5% to roughly $12.08 billion during the fourth quarter."", 'Revenue for the media segment, which includes the TV networks, was up 3.5% to about $7.22 billion, namely due to higher revenue for Peacock due to an uptick in paid subscribers on the platform from the prior year.', 'Overall domestic advertising for the media segment was flat as ad dollars for Peacock increased but the TV networks saw a smaller haul.', 'The media segment reported $298 million in adjusted EBITDA, falling short of Wall Street expectations of $317.1 million for the quarter, according to StreetAccount estimates.', 'The rest of the businesses in the content and experiences segment beat StreetAccount estimates, including overall adjusted EBITDA.In November, Comcast announced it would spin off its cable network channels, a portfolio that includes CNBC, MSNBC, E!,', 'Syfy, USA, Oxygen and the Golf Channel.', 'The separation, which will also include digital assets such as Fandango and Rotten Tomatoes, is expected to take about a year.', 'The NBC broadcast network, cable channel Bravo and Peacock will remain with Comcast.', 'Peacock has been moving toward profitability in recent quarters.', 'On Thursday, Comcast reported Peacock had $1.3 billion in fourth-quarter revenue and an adjusted EBITDA loss of $372 million, compared with $1 billion in revenue and an adjusted EBITDA loss of $825 million in the same period last year.', ""Peacock's subscriber growth often rises on the back of major live sporting events on the platform."", 'The Summer Olympics in Paris was a key driver in the third quarter, when the platform added 3 million subscribers.', ""Exclusive NFL games have helped pad the streamer's numbers, and the company has touted the addition of the NBA and WNBA next season."", 'Universal Studios\' revenue was up 6.7% to $3.27 billion, and the segment\'s adjusted EBITDA was up 85% to $569 million, boosted by the box office successes of films including ""Kung Fu Panda 4,"" ""Despicable Me 4,"" ""The Wild Robot"" and ""Wicked.', '""Meanwhile, Theme Parks revenue was flat as lower attendance persisted at domestic locations.', 'Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.', 'NBCUniversal owns NBC Sports and NBC Olympics.', 'NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.']",0.0597997125879288,"Adjusting for one-time items, including interest expense and the value of certain assets, Comcast reported earnings per share of 96 cents for the period.","Comcast President Mike Cavanagh on Thursday's investor call said the broadband losses were ""disappointing and worse than what we indicated in early December.",0.3477487707138061,"Meanwhile, revenue for the company's Content and Experiences business, which includes NBCUniversal's TV networks and streaming, the film studio and theme parks, was up 5% to roughly $12.08 billion during the fourth quarter.","""Meanwhile, Theme Parks revenue was flat as lower attendance persisted at domestic locations.",2025-02-02
+67 dead after American Airlines plane collides with Army helicopter,https://www.cnbc.com/2025/01/30/aircraft-down-in-potomic-river-near-dca-airport.html,2025-01-31T15:49:41+0000,"In this articleThere were no survivors after an American Airlines regional jet with 64 people aboard collided with a Black Hawk military helicopter moments before the airplane was set to land at Washington, D.C.'s Ronald Reagan Washington National Airport on Wednesday night, officials said. The accident was the worst air disaster in the U.S. since 2001.Hundreds of first responders have switched to a recovery operation from rescue efforts, District of Columbia Fire and Emergency Medical Services Chief John Donnelly said in a press conference Thursday morning. Donnelly said at least 28 bodies have been recovered so far: 27 from the jet and one from the helicopter.Both aircraft plunged into the icy waters of the Potomac River. First responders including divers worked overnight to try to recover victims, battling choppy, cold waters.Sixty passengers and four crew members were on board the American flight. Three people were on board the military helicopter, an official said.American Eagle Flight 5342, a PSA Airlines Bombardier CRJ700 regional jetliner, was on approach into the airport's Runway 33 when it collided with a Sikorsky H-60 helicopter at around 9 p.m. ET, the FAA said. The flight was arriving from Wichita, Kansas, and flying at an altitude of about 300 feet at the time of the collision, according to FlightRadar24.PSA Airlines is an American Airlines subsidiary and one of its regional carriers. American Eagle is how the airline brands its regional flights.Transportation Secretary Sean Duffy, two days into the job, said the American Airlines jetliner was broken into three sections in the Potomac.The accident hands President Donald Trump a crisis less than two weeks into his new term, as it ends the country's nearly 16-year stretch without a deadly commercial passenger crash.Trump claimed at a White House news conference Thursday that policies promoting diversity, equity and inclusion ""could have been"" to blame for the collision, the deadliest U.S. plane crash since November 2001. He did not provide evidence.Pressed on whether he was getting ahead of the investigation and on how he could connect the collision to DEI, Trump said, ""Because I have common sense, OK?""The National Transportation Safety Board is leading the investigation into Wednesday's accident. The probe will also include the Federal Aviation Administration, American Airlines and other parties.American Airlines CEO Robert Isom said in a memo to staff that the NTSB would be the ""sole source of truth going forward, and accuracy is of the utmost importance.""At a briefing Thursday afternoon, NTSB Chair Jennifer Homendy said the agency would leave no stone unturned in its investigation.Investigators will look at everything from staffing levels at the airport's air traffic control facility to pilot training, maintenance, communications between air traffic controllers and the aircraft involved in the crash, she said.The NTSB said late Thursday that the flight data and cockpit voice recorder from the CRJ-700 have been recovered. The boxes were taken to NTSB labs for evaluation, the agency said.Staffing at Reagan National Airport on Wednesday night wasn't at normal levels for the time of day and the amount of traffic, according to a source familiar with a FAA preliminary incident report. The FAA didn't immediately comment.The person said the tower at the airport normally has one controller who focuses on helicopter traffic, though FAA allows for that position to be combined so one person could watch airplanes and helicopters. That was the case Wednesday night, the source said.""Everyone who flies in American skies expects that we fly safely, that when you depart an airport, you get to your destination,"" Duffy said in a press conference Thursday. ""That didn't happen last night, and I know that President Trump, his administration, the FAA, the DOT, you will not rest until we have answers for the family and for the flying public.""Duffy said he thought the accident was preventable.The FAA does not have a permanent head, which would require Senate confirmation. Former Administrator Mike Whitaker stepped down on Jan. 20, when Trump took office.On Thursday, Trump appointed Chris Rocheleau, a former senior FAA official, as acting head of the FAA.American CEO Isom traveled to Washington, D.C., overnight.""I want to express my sincere condolences for the accident that happened last night. We're absolutely heartbroken for the family members,"" Isom said in a press conference. ""Our focus right now is to support all of those involved and also the PSA airlines team.""He said the American flight was at final approach and ""at this time, we don't know why the military aircraft came into the path of the PSA aircraft.""Isom said the captain of the American Eagle flight had about six years with PSA and the first officer had about two years. The plane was on a ""standard"" approach, he added. ""That's about all I can say.""NBC News reported that one of the soldiers on the helicopter was an instructor pilot lending experience to the crew, which was on an annual training mission.The airline provided contact information for people who ""believe you may have loved ones on board Flight 5342.""American and Russian figure skaters were on board the flight, according to the countries' official groups.Reagan Washington National was closed Wednesday night and reopened late Thursday morning. Officials said airlines would communicate any schedule changes to passengers.The airport says its main runway is the busiest in the country.The U.S. has had a long stretch without fatal commercial passenger airline crashes. The last U.S. commercial passenger airline crash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.The crash of that turboprop plane prompted federal regulations requiring more rest and training for pilots.""We are shocked and saddened by the tragic accident at DCA tonight,"" said the Air Line Pilots Association, a pilot union. ""Our thoughts are with those affected by this tragedy and ALPA's accident investigation team is responding to assist the National Transportation Safety Board in their investigation.""— CNBC's Kevin Breuninger and Phil LeBeau contributed to this report.This story is developing. Please check back for updates.Correction: An American Airlines plane collided with an Army helicopter. This fact had a typographical error in the headline of a previous version.",CNBC,31/01/2025,"[""In this articleThere were no survivors after an American Airlines regional jet with 64 people aboard collided with a Black Hawk military helicopter moments before the airplane was set to land at Washington, D.C.'s Ronald Reagan Washington National Airport on Wednesday night, officials said."", 'The accident was the worst air disaster in the U.S. since 2001.Hundreds of first responders have switched to a recovery operation from rescue efforts, District of Columbia Fire and Emergency Medical Services Chief John Donnelly said in a press conference Thursdaymorning.', 'Donnelly said at least 28 bodies have been recovered so far:27 from the jet and one from the helicopter.', 'Both aircraft plunged into the icy waters of the Potomac River.', 'First responders including divers worked overnight to try to recover victims, battling choppy, cold waters.', 'Sixty passengers and four crew members were on board the American flight.', 'Three people were on board the military helicopter, an official said.', ""American Eagle Flight 5342, a PSA Airlines Bombardier CRJ700 regional jetliner, was on approach into the airport's Runway 33 when it collided with a Sikorsky H-60 helicopter at around 9 p.m. ET, the FAA said."", 'The flight was arriving from Wichita, Kansas, and flying at an altitude of about 300 feet at the time of the collision, according to FlightRadar24.PSAAirlinesis an American Airlines subsidiary and one of its regional carriers.', 'American Eagle is how theairlinebrands its regional flights.', 'Transportation Secretary Sean Duffy, two days into the job, said the American Airlines jetliner was broken into three sections in the Potomac.', ""The accident hands President Donald Trump a crisis less than two weeks into his new term, as it ends the country's nearly 16-year stretch without a deadly commercial passenger crash."", 'Trump claimed at a White House news conference Thursday that policies promoting diversity, equity and inclusion ""could have been"" to blame for the collision, thedeadliest U.S. plane crashsince November 2001.', 'He did not provide evidence.', 'Pressed on whether he was getting ahead of the investigation and on how he could connect the collision to DEI, Trump said, ""Because I have common sense, OK?""The National Transportation Safety Board is leading the investigation into Wednesday\'s accident.', 'The probe will also include the Federal Aviation Administration, American Airlines and other parties.', 'American Airlines CEO Robert Isom said in a memo to staff that the NTSB would be the ""sole source of truth going forward, and accuracy is of the utmost importance.', '""At a briefing Thursday afternoon, NTSB Chair Jennifer Homendy said the agency would leave no stone unturned in its investigation.', ""Investigators will look at everything from staffing levels at the airport's air traffic control facility to pilot training, maintenance, communications between air traffic controllers and the aircraft involved in the crash, she said."", 'The NTSB saidlate Thursday thatthe flight data andcockpit voice recorderfrom the CRJ-700 have been recovered.', 'The boxes were taken to NTSB labs for evaluation, the agency said.', ""Staffing at Reagan National Airport on Wednesday night wasn't at normal levels for the time of day and the amount of traffic, according to a source familiar with a FAA preliminary incident report."", ""The FAA didn't immediately comment."", 'The person said the tower at the airport normally has one controller who focuses on helicopter traffic, though FAA allows for that position to be combined so one person could watch airplanes and helicopters.', 'That was the case Wednesday night, the source said.', '""Everyone who flies in American skies expects that we fly safely, that when you depart an airport, you get to your destination,"" Duffy said in a press conference Thursday. ""', ""That didn't happen last night, and I know that President Trump, his administration, the FAA, the DOT, you will not rest until we have answers for the family and for the flying public."", '""Duffy said he thought the accident was preventable.', 'The FAA does not have a permanent head, which would require Senate confirmation.', 'Former Administrator Mike Whitaker stepped down on Jan. 20, when Trump took office.', 'On Thursday, Trump appointed ChrisRocheleau, a former senior FAA official, as acting head of the FAA.American CEO Isom traveled to Washington, D.C., overnight.', '""I want to express my sincere condolences for the accident that happened last night.', 'We\'re absolutely heartbroken for the family members,"" Isom said in a press conference. ""', 'Our focus right now is to support all of those involved and also the PSAairlinesteam.', '""He said the American flight was at final approach and ""at this time, we don\'t know why the military aircraft came into the path of the PSA aircraft.', '""Isom said the captain of the American Eagle flight had about six years with PSA and the first officer had about two years.', 'The plane was on a ""standard"" approach, he added. ""', ""That's about all I can say."", '""NBC News reported that one of the soldiers on the helicopter was an instructor pilot lending experience to the crew, which was on an annual training mission.', 'The airline provided contact information for people who ""believe you may have loved ones on board Flight 5342.""American and Russian figure skaterswere on board the flight, according to the countries\' official groups.', 'Reagan Washington National was closed Wednesday night and reopened late Thursday morning.', 'Officials said airlines would communicate any schedule changes to passengers.', 'The airport says its main runway is the busiest in the country.', 'The U.S. has had a long stretch without fatal commercial passenger airline crashes.', 'The last U.S. commercial passengerairlinecrash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.', 'The crash of that turboprop plane prompted federal regulations requiring more rest and training for pilots.', '""We are shocked and saddened by the tragic accident at DCA tonight,"" said the Air Line Pilots Association, a pilot union. ""', 'Our thoughts are with those affected by this tragedy and ALPA\'s accident investigation team is responding to assist the National Transportation Safety Board in their investigation.""—', ""CNBC's Kevin Breuninger and Phil LeBeau contributed to this report."", 'This story is developing.', 'Please check back for updates.', 'Correction: An American Airlines plane collided with an Army helicopter.', 'This fact had a typographical error in the headline of a previous version.']",-0.1126995504155695,"The airline provided contact information for people who ""believe you may have loved ones on board Flight 5342.""American and Russian figure skaterswere on board the flight, according to the countries' official groups.","The accident was the worst air disaster in the U.S. since 2001.Hundreds of first responders have switched to a recovery operation from rescue efforts, District of Columbia Fire and Emergency Medical Services Chief John Donnelly said in a press conference Thursdaymorning.",-0.7085793018341064,,"""We are shocked and saddened by the tragic accident at DCA tonight,"" said the Air Line Pilots Association, a pilot union. """,2025-02-02
+Frontier Airlines proposes merging with bankrupt Spirit — again. Spirit says no,https://www.cnbc.com/2025/01/29/frontier-airlines-proposes-combining-spirit.html,2025-01-29T16:55:57+0000,"In this articleBankrupt Spirit Airlines said it turned down a new merger offer from rival budget carrier Frontier Airlines.Frontier said Wednesday that it has met with Spirit's board and executives since it made its debt-and-stock merger proposal on Jan. 7. Frontier executives said in a email to counterparts at Spirit this week that their plan is better than Spirit's own plan to emerge from bankruptcy.""We continue to believe that under the current standalone plan, Spirit will emerge highly levered, losing money at the operating level, and this would not be a transaction we would pursue,"" wrote Frontier Chairman Bill Franke and CEO Barry Biffle in a Tuesday email to Spirit Chairman Mac Gardner and CEO Ted Christie. ""As a result, time is of the essence.""Christie and Gardner told their Frontier counterparts that they were rejecting the offer, calling the terms ""inadequate and unactionable,"" according to a letter shared in a securities filing on Wednesday.Frontier's new merger plan offered Spirit's debtors $400 million and a 19% stake in Frontier. It also proposed Spirit creditors provide $350 million in new funding, Spirit said.The Spirit executives called Frontier's proposal ""risky and costly, with no certainty as to either timing or outcome"" and ""woefully insufficient financially.""They said, however, that they would consider a sweetened offer.""Should you wish to make a revised proposal that is in fact capable of closing, and addresses the material deficiencies catalogued here and in our many communications, we would be happy to consider it and again work to activate our stakeholders to do so as well,"" they wrote.The two carriers were in talks for a possible combination before Spirit filed for bankruptcy.Frontier and Spirit first announced a deal to merge in 2022, but a higher JetBlue Airways all-cash offer derailed that plan. JetBlue's planned acquisition of Spirit was blocked by a federal judge last year, and Spirit filed for bankruptcy protection in November.In both deals, the airlines argued they needed to combine to better compete against larger rivals.Spirit said it expects to exit Chapter 11 bankruptcy this quarter and has a Feb. 13 court date to finalize its plan, which wipes out debtor shareholders. It has raced to cut costs in recent months, including by slashing some 200 jobs and selling some of its Airbus planes.Budget carriers like Frontier and Spirit have struggled post-pandemic, as costs like salaries have risen and consumers have opted for trips abroad on carriers with options for roomier and more expensive seats. Larger rivals that control much of the U.S. market have also made inroads with basic economy fares, which aim to compete with the bare-bones tickets that were at one time the backbone of Frontier and Spirit.Spirit has also been particularly challenged by a Pratt & Whitney engine recall that grounded dozens of its jets.Both Frontier and Spirit have been working to upend their business models that were marked by low fares and fees for add-ons from seat assignments to cabin baggage.The airlines last year did away with cancellation and change fees for some of their tickets and started bundling perks along with tickets. Frontier last year said it would start offering a premium section at the front of the plane.",CNBC,29/01/2025,"['In this articleBankrupt Spirit Airlines said it turned down a new merger offer from rival budget carrier Frontier Airlines.', ""Frontier said Wednesday that it has met with Spirit's board and executives since it made its debt-and-stock merger proposal on Jan. 7."", ""Frontier executives said in a email to counterparts at Spirit this week that their plan is better than Spirit's own plan to emerge from bankruptcy."", '""We continue to believe that under the current standalone plan, Spirit will emerge highly levered, losing money at the operating level, and this would not be a transaction we would pursue,"" wrote Frontier Chairman Bill Franke and CEO Barry Biffle in a Tuesday email to Spirit Chairman Mac Gardner and CEO Ted Christie. ""', 'Asa result, time is of the essence.', '""Christie and Gardner told their Frontier counterparts that they were rejecting the offer, calling the terms ""inadequate and unactionable,"" according to a letter shared in a securities filing on Wednesday.', ""Frontier's new merger plan offered Spirit's debtors $400 million and a 19% stake in Frontier."", 'It also proposed Spirit creditors provide $350 million in new funding, Spirit said.', 'The Spirit executives called Frontier\'s proposal ""risky and costly, with no certainty as to either timing or outcome"" and ""woefully insufficient financially.', '""They said, however, that they would consider a sweetened offer.', '""Should you wish to make a revised proposal that is in fact capable of closing, and addresses the material deficiencies catalogued here and in our many communications, we would be happy to consider it and again work to activate our stakeholders to do so as well,"" they wrote.', 'The two carriers were in talks for a possible combination before Spirit filed for bankruptcy.', 'Frontier and Spirit first announced a deal to merge in 2022, but a higher JetBlue Airways all-cash offer derailed that plan.', ""JetBlue's planned acquisition of Spirit was blocked by a federal judge last year, and Spirit filed for bankruptcy protection in November."", 'In both deals, the airlines argued they needed to combine to better compete against larger rivals.', 'Spirit said it expects to exit Chapter 11 bankruptcy this quarter and has a Feb. 13 court date to finalize its plan, which wipes out debtor shareholders.', 'It has raced to cut costs in recent months, including by slashing some 200 jobs and selling some of its Airbus planes.', 'Budget carriers like Frontier and Spirit have struggled post-pandemic, as costs like salaries have risen and consumers have opted for trips abroad on carriers with options for roomier and more expensive seats.', 'Larger rivals that control much of the U.S. market have also made inroads with basic economy fares, which aim to compete with the bare-bones tickets that were at one time the backbone of Frontier and Spirit.', 'Spirit has also been particularly challenged by a Pratt & Whitney engine recall that grounded dozens of its jets.', 'Both Frontier and Spirit have been working to upend their business models that were marked by low fares and fees for add-ons from seat assignments to cabin baggage.', 'The airlines last year did away with cancellation and change fees for some of their tickets and started bundling perks along with tickets.', 'Frontier last year said it would start offering a premium section at the front of the plane.']",0.0576550898135412,"""Should you wish to make a revised proposal that is in fact capable of closing, and addresses the material deficiencies catalogued here and in our many communications, we would be happy to consider it and again work to activate our stakeholders to do so as well,"" they wrote.","The Spirit executives called Frontier's proposal ""risky and costly, with no certainty as to either timing or outcome"" and ""woefully insufficient financially.",-0.1617318391799926,"Larger rivals that control much of the U.S. market have also made inroads with basic economy fares, which aim to compete with the bare-bones tickets that were at one time the backbone of Frontier and Spirit.","Budget carriers like Frontier and Spirit have struggled post-pandemic, as costs like salaries have risen and consumers have opted for trips abroad on carriers with options for roomier and more expensive seats.",2025-02-02
+Three key takeaways from Robert F. Kennedy Jr.'s Senate confirmation hearing,https://www.cnbc.com/2025/01/29/watch-rfk-jr-senate-confirmation-hearing-for-hhs-secretary.html,2025-01-29T21:27:00+0000,"Robert F. Kennedy Jr., President Donald Trump's controversial pick to lead the Department of Health and Human Services, testified Wednesday before a crucial Senate panel, where he faced questions about vaccine skepticism, his evolving views on abortion and grasp of sprawling federal health programs.Kennedy, 71, appeared first before the Senate Committee on Finance, which will vote on whether his nomination as HHS secretary advances to the full chamber. In the Republican-controlled Senate, Kennedy can lose only three GOP votes if all Democrats oppose him.He will also appear before the Senate Committee on Health, Education, Labor and Pensions for a courtesy hearing Thursday.He sidestepped many of the questions as senators grilled him Wednesday. He also struggled to answer some questions about Medicare and Medicaid, and often said he would defer to Trump on policies in such areas as reproductive rights and prescription drug price negotiations.If confirmed, Kennedy will take the reins of a $1.7 trillion agency that oversees vaccines and other medicines, scientific research, public health infrastructure, pandemic preparedness, food and tobacco products, and government-funded health care for millions of Americans. The heads of the Food and Drug Administration, Centers for Disease Control and Prevention, National Institutes of Health, and Centers for Medicare & Medicaid Services, among other federal health agencies, all report to the HHS secretary.Kennedy has faced criticism from both sides of the aisle. He is a prominent vaccine skeptic, making false claims that they are linked to autism despite decades of studies that debunk that association.Kennedy is also the founder of the nonprofit Children's Health Defense, the most well-funded anti-vaccine organization in the U.S. In a government ethics agreement last week, he said he stopped serving as chairman or chief legal counsel for the organization as of December.Some critics have argued that his work advocating against vaccine use has cost lives and could deter more Americans from getting recommended shots at a time when vaccination rates are declining.A protester in the hearing room shouted when Kennedy denied he was anti-vaccine, accusing him of lying. It sparked applause, briefly interrupting his opening remarks.Shouting again interrupted the hearing as committee ranking member Sen. Ron Wyden, D-Ore., questioned Kennedy about his comments about vaccines. Committee Chair Sen. Mike Crapo, R-Idaho, threatened to recess the hearing if any more protesters disrupted it.Beyond vaccines, Kennedy also previewed how he plans to pursue his broad ""Make America Healthy Again"" platform if confirmed as the nation's top health official. The platform argues that a corrupt alliance of drug and food companies and the federal health agencies that regulate them are making Americans less healthy. Kennedy has long contended that the agencies that HHS oversees need reform or a sweeping overhaul.Kennedy's supporters say some of his stances around food, such as highlighting the risks of food additives and ultra-processed products, have hit on broad appeal among Republicans and some Democrats. But Kennedy on Wednesday said he is not ""the enemy of food producers,"" noting that American farms are ""the bedrock of our culture and national security.""Caroline Kennedy, the nominee's cousin and daughter of former President John F. Kennedy, wrote a letter to senators Tuesday that referred to her cousin as a ""predator"" and urged them not to confirm him.Here are some of the key takeaways from Wednesday's hearing:Kennedy, in his opening remarks before the panel, pushed back on claims that he is anti-vaccine or anti-industry.""I am neither; I am pro-safety,"" Kennedy said. ""I worked for years to raise awareness about the mercury and toxic chemicals in fish, but that didn't make me anti-fish. All of my kids are vaccinated, and I believe vaccines have a critical role in health care.""Kennedy engaged in heated debate with senators over his vaccine views, saying, ""I support the measles vaccine, I support the polio vaccine, I will do nothing as HHS secretary that makes it difficult or discourages people taking"" them.Sen. Ron Wyden, D-Ore., didn't buy that claim, highlighting Kennedy's previous remarks in a book about not viewing measles as a threat. Senators also pointed to Kennedy's misinformation about the safety of the measles, mumps and rubella vaccine that was linked to a severe measles outbreak in Samoa in 2019 that left dozens of children dead. That outbreak came just months after Kennedy visited the island nation. Kennedy denied having anything to do with the deadly outbreak. ""You cannot find a single Samoan that says, 'I didn't get vaccinated because of Bobby Kennedy,'"" he said.When Wyden asked if measles is deadly, Kennedy did not directly answer the question. Kennedy contended again that he was not anti-vaccine.Wyden also pressed Kennedy on his comments in a 2023 podcast in which he said, ""There's no vaccine that is safe and effective."" Kennedy said he has previously clarified those statements and that he would not dissuade Americans from getting certain vaccines.Democrats pressed Kennedy on whether he had reversed his stance on abortion for political expediency and if he would do the same on other issues. ""When was it that you decided to sell out the values you've had your whole life in order to be given power by President Trump?"" Democratic Sen. Maggie Hassan of New Hampshire said, pointing to his previous public support for abortion rights. Kennedy, in response, said ""every abortion is a tragedy"" — a line he repeated at least four times throughout the hearing. When asked about his approach to regulations around the abortion pill mifepristone, Kennedy said Trump ""wants me to look at safety issues."" He added that the president had not yet taken a position on how to regulate it.""Whatever he does, I will implement those policies, and I will work with this committee to make those policies make sense,"" Kennedy said. That's a similar response he had when asked about other abortion policies. There is extensive scientific evidence showing that the pills, which are regulated and approved for use by the FDA, are safe. Kennedy appeared to struggle when Sen. Bill Cassidy, R-La., pressed him on what reforms he would propose for the state-federal Medicaid program, which provides coverage to around 80 million Americans, including many low-income people. Republicans could target Medicaid, which costs the federal government more than $600 billion a year, for funding reductions this year to help pay for tax cuts. At times, Kennedy appeared to confuse Medicaid with Medicare, a federal program that provides coverage to older and disabled Americans. Kennedy described Medicaid as ""fully paid for"" by the federal government. But the program is funded by states as well. He also claimed that many Medicaid enrollees were frustrated by high costs, saying ""premiums are too high. The deductibles are too high."" But the majority of Medicaid enrollees do not pay any premiums or deductibles for their coverage. Federal law bars premiums for the lowest-income Medicaid enrollees. Kennedy only vaguely described efforts to reform Medicaid, saying he supported increasing ""transparency"" and ""accountability.""",CNBC,29/01/2025,"[""Robert F. Kennedy Jr., President Donald Trump's controversial pick to lead the Department of Health and Human Services, testified Wednesday before a crucial Senate panel, where he faced questions about vaccine skepticism, his evolving views on abortion and grasp of sprawling federal health programs."", 'Kennedy, 71, appeared first before the Senate Committee on Finance, which will vote on whether his nomination as HHS secretary advances to the full chamber.', 'In the Republican-controlled Senate, Kennedy can lose only three GOP votes if all Democrats oppose him.', 'He will also appear before the Senate Committee on Health, Education, Labor and Pensions for a courtesy hearing Thursday.', 'He sidestepped many of the questions as senators grilled him Wednesday.', 'He also struggled to answer some questions aboutMedicare and Medicaid, and often said he would defer to Trump on policies in such areas as reproductive rights and prescription drug price negotiations.', 'If confirmed, Kennedy will take the reins of a $1.7 trillion agency that oversees vaccines and other medicines, scientific research, public health infrastructure, pandemic preparedness, food and tobacco products, and government-funded health care for millions of Americans.', 'The heads of the Food and Drug Administration, Centers for Disease Control and Prevention, National Institutes of Health, and Centers for Medicare & Medicaid Services, among other federal health agencies, all report to the HHS secretary.', 'Kennedy has faced criticism from both sides of the aisle.', 'He is a prominent vaccine skeptic, making false claims that they are linked to autism despite decades of studies that debunk that association.', ""Kennedy is also the founder of the nonprofit Children's Health Defense, the most well-funded anti-vaccine organization in the U.S.In a government ethics agreement last week, he said he stopped serving as chairman or chief legal counsel for the organization as of December."", 'Some critics have argued that his work advocating against vaccine use has cost lives and could deter more Americans from getting recommended shots at a time when vaccination rates are declining.', 'A protester in the hearing room shouted when Kennedy denied he was anti-vaccine, accusing him of lying.', 'It sparked applause, briefly interrupting his opening remarks.', 'Shouting again interrupted the hearing as committee ranking member Sen. Ron Wyden, D-Ore., questioned Kennedy about his comments about vaccines.', 'Committee Chair Sen. Mike Crapo, R-Idaho, threatened to recess the hearing if any more protesters disrupted it.', 'Beyond vaccines, Kennedy also previewed how he plans to pursue his broad ""Make America Healthy Again"" platform if confirmed as the nation\'s top health official.', 'The platform argues that a corrupt alliance of drug and food companies and the federal health agencies that regulate them are making Americans less healthy.', 'Kennedy has long contended that the agencies that HHS oversees need reform or a sweeping overhaul.', ""Kennedy's supporters say some of his stances around food, such as highlighting the risks of food additives and ultra-processed products, have hit on broad appeal among Republicans and some Democrats."", 'But Kennedy on Wednesday said he is not ""the enemy of food producers,"" noting that American farms are ""the bedrock of our culture and national security.', '""Caroline Kennedy, the nominee\'s cousin and daughter of former President John F. Kennedy, wrote a letter to senators Tuesday that referred to her cousin as a ""predator"" and urged them not to confirm him.', ""Here are some of the key takeaways from Wednesday's hearing:Kennedy, in his opening remarks before the panel, pushed back on claims that he is anti-vaccine or anti-industry."", '""I am neither; I am pro-safety,"" Kennedy said. ""', ""I worked for years to raise awareness about the mercury and toxic chemicals in fish, but that didn't make me anti-fish."", 'All of my kids are vaccinated, and I believe vaccines have a critical role in health care.', '""Kennedy engaged in heated debate with senators over his vaccine views, saying, ""I support the measles vaccine, I support the polio vaccine, I will do nothing as HHS secretary that makes it difficult or discourages people taking"" them.', ""Sen. Ron Wyden, D-Ore., didn't buy that claim, highlighting Kennedy's previous remarks in a book about not viewing measles as a threat."", ""Senators also pointed to Kennedy's misinformation about the safety of the measles, mumps and rubella vaccine that was linked to a severe measles outbreak in Samoa in 2019 that left dozens of children dead."", 'That outbreak came just months after Kennedy visited the island nation.', 'Kennedy denied having anything to do with the deadly outbreak.', '""You cannot find a single Samoan that says, \'I didn\'t get vaccinated because of Bobby Kennedy,\'"" he said.', 'When Wyden asked if measles is deadly, Kennedy did not directly answer the question.', 'Kennedy contended again that he was not anti-vaccine.', 'Wyden also pressed Kennedy on his comments in a 2023 podcast in which he said, ""There\'s no vaccine that is safe and effective.""', 'Kennedy said he has previously clarified those statements and that he would not dissuade Americans from getting certain vaccines.', 'Democrats pressed Kennedy on whether he had reversed his stance on abortion for political expediency and if he would do the same on other issues.', '""When was it that you decided to sell out the values you\'ve had your whole life in order to be given power by President Trump?""', 'Democratic Sen. Maggie Hassan of New Hampshire said, pointing to his previous public support for abortion rights.', 'Kennedy, in response, said ""every abortion is a tragedy"" — a line he repeated at least four times throughout the hearing.', 'When asked about his approach to regulations around the abortion pill mifepristone, Kennedy said Trump ""wants me to look at safety issues.""', 'He added that the president had not yet taken a position on how to regulate it.', '""Whatever he does, I will implement those policies, and I will work with this committee to make those policies make sense,"" Kennedy said.', ""That's a similar response he had when asked about other abortion policies."", 'There is extensive scientific evidence showing that the pills, which are regulated and approved for use by the FDA, are safe.', 'Kennedy appeared to struggle when Sen. Bill Cassidy, R-La., pressed him on what reforms he would propose for the state-federal Medicaid program, which provides coverage to around 80 million Americans, including many low-income people.', 'Republicans could target Medicaid, which costs the federal government more than $600 billion a year, for funding reductions this year to help pay for tax cuts.', 'At times, Kennedy appeared to confuse Medicaid with Medicare, a federal program that provides coverage to older and disabled Americans.', 'Kennedy described Medicaid as ""fully paid for"" by the federal government.', 'But the program is funded by states as well.', 'He also claimed that many Medicaid enrollees were frustrated by high costs, saying ""premiums are too high.', 'The deductibles are too high.', '""But the majority of Medicaid enrollees do not pay any premiums or deductibles for their coverage.', 'Federal law bars premiums for the lowest-income Medicaid enrollees.', 'Kennedy only vaguely described efforts to reform Medicaid, saying he supported increasing ""transparency"" and ""accountability.""']",-0.0208641574024245,"But Kennedy on Wednesday said he is not ""the enemy of food producers,"" noting that American farms are ""the bedrock of our culture and national security.","A protester in the hearing room shouted when Kennedy denied he was anti-vaccine, accusing him of lying.",-0.7147447629408403,"Kennedy's supporters say some of his stances around food, such as highlighting the risks of food additives and ultra-processed products, have hit on broad appeal among Republicans and some Democrats.",Some critics have argued that his work advocating against vaccine use has cost lives and could deter more Americans from getting recommended shots at a time when vaccination rates are declining.,2025-02-02
+GM stock falls even as company beats analyst expectations on earnings,https://www.cnbc.com/2025/01/28/general-motors-gm-earnings-q4-2024.html,2025-01-28T21:05:29+0000,"In this articleDETROIT — General Motors stock fell more than 8% in trading Tuesday even as the company beat Wall Street's top- and bottom-line expectations for the fourth quarter, while forecasting continued strong results for 2025.Concerns of Wall Street analysts on the company's quarterly earnings call focused on the automaker's preparation for changes under the Trump administration, including the impacts of potential tariffs on vehicle production and policy changes on electric vehicle sales and pricing, signaling an overhang on the auto industry.Wall Street analysts have said there's a lack of enthusiasm by investors for the U.S. automotive industry amid a slowdown in electric vehicles and autonomous vehicles, as well as regulatory volatility.The Detroit automaker believes it can have another solid year despite industry sales slowing, a restructuring of its operations in China, and increased geopolitical and regulatory uncertainty in the U.S. as President Donald Trump begins his second term. GM's 2025 guidance includes net income attributable to stockholders of $11.2 billion to $12.5 billion, or $11 to $12 in earnings per share; adjusted earnings before interest and taxes (EBIT) of $13.7 billion to $15.7 billion, or $11 to $12 adjusted EPS; and adjusted automotive free cash flow between $11 billion and $13 billion.""In our view, the guidance for 2025 leaves no room for errors, and also does not include impact from regulatory changes in the U.S., especially on tariffs and BEV support,"" analysts at Bernstein said in a note.GM's 2025 financial guidance met or exceeded many forecasts from Wall Street analysts. Most notably, analysts were expecting adjusted earnings of around $14 billion.That compares with the automaker's 2024 results of adjusted EBIT of $14.9 billion, or $10.60 adjusted EPS, and net income attributable to stockholders of $6 billion, or $6.37 EPS. The adjusted figures and the $14 billion in adjusted auto free cash flow were records for the automaker, GM said. GM CFO Paul Jacobson said the company's 2025 guidance does not take into account any potential regulatory changes such as tariffs on vehicle imports or tax reform.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:GM's $47.7 billion in revenue in the fourth quarter was up 11% from the same period last year.Jacobson said the company's 2024 performance was ""outstanding,"" citing growth in its EV and traditional internal combustion engine businesses. GM lost $2.96 billion, or $1.64 per share, in the fourth quarter, which ended Dec. 31, compared with earnings of $2.1 billion, or $1.59 per share, in the same period a year earlier.GM's quarterly results include $5 billion in special charges such as $4 billion in noncash restructuring charges related to its operations in China and $500 million in charges related to the decision to stop funding its Cruise robotaxi business. Excluding those charges and other items, GM earned $1.92 per share in the fourth quarter.GM CEO Mary Barra said during the company's investor call that it has a proposed restructuring plan to refocus its autonomous driving business on personal vehicles and expects annual run rate savings of about $1 billion from shutting down robotaxi development.GM's $6 billion in net income attributable to stockholders for the full year 2024 was down 40.7% from 2023.GM last month said it expected a restructuring of its joint venture operations with SAIC Motor Corp. in China to cost more than $5 billion in noncash charges and write-downs, most of which occurred during the fourth quarter.GM's revenue last year increased to $187.44 billion, up 9.1% from 2023.GM's North American operations continued their yearslong trend of carrying the automaker's earnings. Its North American adjusted earnings increased 18.1% compared with 2023 to $14.53 billion, which equates to a 9.2% adjusted profit margin.The Detroit automaker's international operations — such as South Korea, Brazil and the Middle East — reported adjusted earnings of $303 million last year, down by 75% compared with 2023. Its equity income from China was a loss of $4.41 billion, largely due to the restructuring actions.""In China, we reported positive equity income for the fourth quarter before restructuring costs, and we're taking steps with our partner to improve from there,"" GM CEO Mary Barra said in a letter to shareholders.Jacobson reiterated that the company expects to restructure the operations without injecting more capital from the U.S. into China.Aside from its financial results, GM said it expects to continue rolling out new products to assist its sales and earnings. That includes electric vehicles, which the company said reached a targeted profitability on a production basis during the fourth quarter.GM expects a $2 billion to $4 billion improvement this year compared with 2024, based on wholesale volumes of about 300,000 EVs. That would be a roughly 59% increase from the 189,000 units in 2024 — slightly below a previously announced target of 200,000 EVs, as the automaker attempted to lower its days' supply toward the end of the year.""We do think that we can grow our EV demand,"" Jacobson said. ""We're going to continue to see how EV adoption progresses in 2025, but the 300,000 is the assumption that we base on being at the low end of the $2 billion to $4 billion of profit improvement.""GM said it's expecting improvements on scale, fixed cost absorption, and a continued focus on cell and vehicle cost reductions to drive improved earnings for EVs next year.Additionally in 2025, Jacobson said GM will continue to look for opportunities to return value to shareholders as well as pay down the company's automotive debt, including $1.75 billion that matures this year. He said the company early retired $750 million in debt in December in addition to completing stock repurchases to lower its outstanding share count to below 1 billion to end the year.For the entire U.S. industry, Jacobson said GM expects new vehicle sales to be relatively level this year compared with last at more than 16 million vehicles. The Detroit automaker expects vehicle pricing, which has come down from record highs of recent years, to decline between 1% and 1.5%.Barra, in her shareholder letter, noted the current ""uncertainty over trade, tax, and environmental regulations"" could impact the automaker's business.She said the company has been ""proactive with Congress and the administration"" about the importance of U.S. manufacturing and ""American leadership in advanced technologies.""""It's clear that we share a lot of common ground, and we appreciate the dialogue,"" said Barra, who spoke with Trump before his inauguration. ""Whatever happens on these fronts, we have a broad and deep portfolio of [internal combustion engine] vehicles and EVs that are both growing market share, and we'll be agile and execute as efficiently as possible.""GM previously told CNBC that Barra's conversation with Trump was ""friendly and productive.""Trump has discussed implementing a 25% tariff on goods from Canada and Mexico, which could affect vehicles that are imported to the U.S.Most major automakers have factories in the U.S. However, they still heavily rely on imports from other countries, including Mexico, to meet American consumer demand.",CNBC,28/01/2025,"[""In this articleDETROIT — General Motors stock fell more than 8% in trading Tuesday even as the company beat Wall Street's top- and bottom-line expectations for the fourth quarter, while forecasting continued strong results for 2025.Concerns of Wall Street analysts on the company's quarterly earnings callfocused on the automaker's preparation for changes under the Trump administration, including the impacts of potential tariffs on vehicle production and policy changes on electric vehicle sales and pricing, signaling an overhang on the auto industry."", ""Wall Street analysts have said there's a lack of enthusiasm by investors for the U.S. automotive industry amid a slowdown in electric vehicles andautonomous vehicles,as well asregulatory volatility."", 'The Detroit automaker believes it can have another solid year despite industry sales slowing, a restructuring of its operations in China, and increased geopolitical and regulatory uncertainty in the U.S. as President Donald Trump begins his second term.', ""GM's 2025 guidance includes net income attributable to stockholders of $11.2 billion to $12.5 billion, or $11 to $12 in earnings per share; adjusted earnings before interest and taxes (EBIT) of $13.7 billion to $15.7 billion, or $11 to $12 adjusted EPS; and adjusted automotive free cash flow between $11 billion and $13 billion."", '""In our view, the guidance for 2025 leaves no room for errors, and also does not include impact from regulatory changes in the U.S., especially on tariffs and BEV support,"" analysts at Bernstein said in a note.', ""GM's 2025 financial guidance met or exceeded many forecasts from Wall Street analysts."", 'Most notably, analysts were expecting adjusted earnings of around $14 billion.', ""That compares with the automaker's 2024 results of adjusted EBIT of $14.9 billion, or $10.60 adjusted EPS, and net income attributable to stockholders of $6 billion, or $6.37 EPS."", 'The adjusted figures and the $14 billion in adjusted auto free cash flow were records for the automaker, GM said.', ""GM CFO Paul Jacobson said the company's 2025 guidance does not take into account any potential regulatory changes such as tariffs on vehicle imports or tax reform."", ""Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:GM's $47.7 billion in revenue in the fourth quarter was up 11% from the same period last year."", 'Jacobson said the company\'s 2024 performance was ""outstanding,"" citing growth in its EV and traditional internal combustion engine businesses.', 'GM lost $2.96 billion, or $1.64 per share, in the fourth quarter, which ended Dec. 31, compared with earnings of $2.1 billion, or $1.59 per share, in the same period a year earlier.', ""GM's quarterly results include $5 billion in special charges such as$4 billionin noncash restructuring charges related to its operations in China and $500 million in charges related to the decision to stop funding its Cruise robotaxi business."", 'Excluding those charges and other items, GM earned $1.92 per share in the fourth quarter.', ""GM CEO Mary Barra said during the company's investor call that it has a proposed restructuring plan to refocus its autonomous driving business on personal vehicles and expects annual run rate savings of about $1 billion from shutting down robotaxi development."", ""GM's $6 billion in net income attributable to stockholders for the full year 2024 was down 40.7% from 2023.GM last month said it expected a restructuring of its joint venture operations with SAIC Motor Corp. in China to cost more than $5 billion in noncash charges and write-downs, most of which occurred during the fourth quarter."", ""GM's revenue last year increased to $187.44 billion, up 9.1% from 2023.GM's North American operations continued their yearslong trend of carrying the automaker's earnings."", 'Its North American adjusted earnings increased 18.1% compared with 2023 to $14.53 billion, which equates to a 9.2% adjusted profit margin.', ""The Detroit automaker's international operations — such as South Korea, Brazil and the Middle East — reported adjusted earnings of $303 million last year, down by 75% compared with 2023."", 'Its equity income from China was a loss of $4.41 billion, largely due to the restructuring actions.', '""In China, we reported positive equity income for the fourth quarter before restructuring costs, and we\'re taking steps with our partner to improve from there,"" GM CEO Mary Barra said in a letter to shareholders.', 'Jacobson reiterated that the company expects to restructure the operations without injecting more capital from the U.S. into China.', 'Aside from its financial results, GM said it expects to continue rolling out new products to assist its sales and earnings.', 'That includes electric vehicles, which the company said reached a targeted profitability on a production basis during the fourth quarter.', 'GM expects a $2 billion to $4 billion improvement this year compared with 2024, based on wholesale volumes of about300,000 EVs.', ""That would be a roughly 59% increase from the 189,000 units in 2024 — slightly below a previously announced target of 200,000 EVs, as the automaker attempted to lower its days' supply toward the end of the year."", '""We do think that we can grow our EV demand,"" Jacobson said. ""', ""We're going to continue to see how EV adoption progresses in 2025, but the 300,000 is the assumption that we base on being at the low end of the $2 billion to $4 billion of profit improvement."", '""GM said it\'s expecting improvements on scale, fixed cost absorption, and a continued focus on cell and vehicle cost reductions to drive improved earnings for EVs next year.', ""Additionally in 2025, Jacobson said GM will continue to look for opportunities to return value to shareholders as well as pay down thecompany's automotivedebt, including $1.75 billion that matures this year."", 'He said the company early retired $750 million in debt in December in addition to completing stock repurchases to lower its outstanding share count to below 1 billion to end the year.', 'For the entire U.S. industry, Jacobson said GM expects new vehicle sales to be relatively level this year compared with last at more than 16 million vehicles.', 'The Detroit automaker expects vehicle pricing, which has come down from record highs of recent years, to decline between 1% and 1.5%.Barra, in her shareholder letter, noted the current ""uncertainty over trade, tax, and environmental regulations"" could impact the automaker\'s business.', 'She said the company has been ""proactive with Congress and the administration"" about the importance of U.S. manufacturing and ""American leadership in advanced technologies.', '""""It\'s clear that we share a lot of common ground, and we appreciate the dialogue,"" said Barra, who spoke with Trump before his inauguration. ""', ""Whatever happens on these fronts, we have a broad and deep portfolio of [internal combustion engine] vehicles and EVs that are both growing market share, and we'll be agile and execute as efficiently as possible."", '""GM previously told CNBC that Barra\'s conversation with Trump was ""friendly and productive.', '""Trump has discussed implementing a 25% tariff on goods from Canada and Mexico, which could affect vehicles that are imported to the U.S.Most major automakers have factories in the U.S. However, they still heavily rely on imports from other countries, including Mexico, to meet American consumer demand.']",0.2306191398906844,"GM's 2025 guidance includes net income attributable to stockholders of $11.2 billion to $12.5 billion, or $11 to $12 in earnings per share; adjusted earnings before interest and taxes (EBIT) of $13.7 billion to $15.7 billion, or $11 to $12 adjusted EPS; and adjusted automotive free cash flow between $11 billion and $13 billion.",GM's quarterly results include $5 billion in special charges such as$4 billionin noncash restructuring charges related to its operations in China and $500 million in charges related to the decision to stop funding its Cruise robotaxi business.,0.3839311370482811,"GM's revenue last year increased to $187.44 billion, up 9.1% from 2023.GM's North American operations continued their yearslong trend of carrying the automaker's earnings.","In this articleDETROIT — General Motors stock fell more than 8% in trading Tuesday even as the company beat Wall Street's top- and bottom-line expectations for the fourth quarter, while forecasting continued strong results for 2025.Concerns of Wall Street analysts on the company's quarterly earnings callfocused on the automaker's preparation for changes under the Trump administration, including the impacts of potential tariffs on vehicle production and policy changes on electric vehicle sales and pricing, signaling an overhang on the auto industry.",2025-02-02
+Comcast shifts strategy to mobile as fourth-quarter broadband numbers disappoint,https://www.cnbc.com/2025/01/30/comcast-shifts-strategy-to-mobile-as-broadband-disappoints.html,2025-01-30T21:14:56+0000,"In this articleCable giant Comcast is looking to the wireless business for growth.Comcast executives said Thursday the company will shift its focus to its mobile business after reporting a loss of 139,000 residential broadband customers during the fourth quarter.Broadband has long been the growth engine of the cable industry, especially after the exodus of cable TV customers. Although broadband segment revenue remains stable, Comcast, like its cable peers, has been in the midst of a slowdown in customer growth, which has concerned investors in recent years.Shares of Comcast fell 11% Thursday.Company executives said during Thursday's earnings call with investors that the company will shift its strategy to package mobile with broadband in a bid for more customers.The stagnation stems from a number of factors, primarily the rise of wireless providers such as Verizon and T-Mobile offering home broadband options.""In short, competitive conditions remain intense, dynamic and varied across our footprint and customer segments,"" Comcast President Mike Cavanagh said on Thursday's investor call. ""And we see no signs of this changing in the near term.""In 2022, Comcast and fellow cable giant Charter Communications each reported their first quarterly decline in broadband subscriber growth.Executives have cited reasons such as the slowdown in buying and selling of homes — noting there are fewer people signing up for cable when they get a new home — as well as a drop-off in additions following robust growth at the height of the Covid pandemic, when lockdowns sent Americans home to work and learn.But the rise of fixed wireless offerings from Verizon and T-Mobile has significantly ramped up competition. In December, Comcast Cable CEO Dave Watson called out the dynamic and warned of a fourth-quarter loss of 100,000 customers. Thursday's announcement amounted to deeper-than-projected subscriber losses.The so-called overbuilding of fiber internet has contributed to the competition, as has fixed wireless, a 5G high-speed broadband offering that is an alternative to cable broadband. Comcast in the past has dismissed fixed wireless as ""an inferior product.""On Thursday CFO Jason Armstrong said the expectation is that fixed wireless, and likely satellite companies, will be ""carving out a permanent part of the market."" He also noted cable's increasing broadband speeds as an advantage.In response, Comcast is looking to mobile to both grow and maintain its customer base.""While we are the incumbent in the $80 billion U.S. residential broadband market, we are the challenger in the far larger $200 billion U.S. wireless market,"" said Armstrong. ""Wireless is an integral part of our broadband strategy.""Comcast now counts more than 7.8 million mobile lines, or 12% penetration of its residential broadband customer base, giving it a ""long runway ahead.""Comcast launched Xfinity Mobile in 2017, while Charter started offering mobile in 2018. The two biggest cable companies in the U.S. have touted consistent quarterly gains of mobile lines since then. Smaller operators such as Altice USA and Cox have also added the offering.Comcast and its cable peers' mobile offerings rely on the wireless network of Verizon, as well as customers' home broadband networks and Wi-Fi hotspots. Only broadband customers of Comcast can sign up for mobile service through the company.Cable companies have said their mobile businesses reduce so-called churn, or the loss of customers, and have been key to gaining new subscribers and driving revenue growth.Cavanagh on Thursday said the company would push to simplify its bundles, following the lead of Charter's mobile and broadband offerings. In September, Charter unveiled a series of changes to its plans, including bundles with mobile, with CEO Chris Winfrey telling CNBC the company ""wanted to make a bold statement.""Disclosure: Comcast owns CNBC parent company NBCUniversal.",CNBC,30/01/2025,"['In this articleCable giant Comcast is looking to the wireless business for growth.', 'Comcast executives said Thursday the company will shift its focus to its mobile business after reporting a loss of 139,000 residential broadband customers during the fourth quarter.', 'Broadband has long been the growth engine of the cable industry, especially after the exodus of cable TV customers.', 'Although broadband segment revenue remains stable, Comcast, like its cable peers, has been in the midst of a slowdown in customer growth, which has concerned investors in recent years.', 'Shares of Comcast fell 11% Thursday.', ""Company executives said during Thursday's earnings call with investors that the company will shift its strategy to package mobile with broadband in a bid for more customers."", 'The stagnation stems from a number of factors, primarily the rise of wireless providers such as Verizon and T-Mobile offering home broadband options.', '""In short, competitive conditions remain intense, dynamic and varied across our footprint and customer segments,"" Comcast President Mike Cavanagh said on Thursday\'s investor call. ""', 'And we see no signs of this changing in the near term.', '""In 2022, Comcast and fellow cable giant Charter Communications each reported their first quarterly decline in broadband subscriber growth.', 'Executives have cited reasons such as the slowdown in buying and selling of homes — noting there are fewer people signing up for cable when they get a new home — as well as a drop-off in additions following robust growth at the height of the Covid pandemic, when lockdowns sent Americans home to work and learn.', 'But the rise of fixed wireless offerings from Verizon and T-Mobile has significantly ramped up competition.', 'In December, Comcast Cable CEO Dave Watson called out the dynamic and warned of a fourth-quarter loss of 100,000 customers.', ""Thursday's announcement amounted to deeper-than-projected subscriber losses."", 'The so-called overbuilding of fiber internet has contributed to the competition, as has fixed wireless, a 5G high-speed broadband offering that is an alternative to cable broadband.', 'Comcast in the past has dismissed fixed wireless as ""an inferior product.', '""On Thursday CFO Jason Armstrong said the expectation is that fixed wireless, and likely satellite companies, will be ""carving out a permanent part of the market.""', ""He also noted cable's increasing broadband speeds as an advantage."", 'In response, Comcast is looking to mobile to both grow and maintain its customer base.', '""While we are the incumbent in the $80 billion U.S. residential broadband market, we are the challenger in the far larger $200 billion U.S. wireless market,"" said Armstrong. ""', 'Wireless is an integral part of our broadband strategy.', '""Comcast now counts more than 7.8 million mobile lines, or 12% penetration of its residential broadband customer base, giving it a ""long runway ahead.', '""Comcast launched Xfinity Mobile in 2017, while Charter started offering mobile in 2018.', 'The two biggest cable companies in the U.S. have touted consistent quarterly gains of mobile lines since then.', 'Smaller operators such as Altice USA and Cox have also added the offering.', ""Comcast and its cable peers' mobile offerings rely on the wireless network of Verizon, as well as customers' home broadband networks and Wi-Fi hotspots."", 'Only broadband customers of Comcast can sign up for mobile service through the company.', 'Cable companies have said their mobile businesses reduce so-called churn, or the loss of customers, and have been key to gaining new subscribers and driving revenue growth.', ""Cavanagh on Thursday said the company would push to simplify its bundles, following the lead of Charter's mobile and broadband offerings."", 'In September, Charter unveiled a series of changes to its plans, including bundles with mobile, with CEO Chris Winfrey telling CNBC the company ""wanted to make a bold statement.', '""Disclosure: Comcast owns CNBC parent company NBCUniversal.']",0.1317674428207308,"Although broadband segment revenue remains stable, Comcast, like its cable peers, has been in the midst of a slowdown in customer growth, which has concerned investors in recent years.",Thursday's announcement amounted to deeper-than-projected subscriber losses.,0.0515672689989993,The two biggest cable companies in the U.S. have touted consistent quarterly gains of mobile lines since then.,"""In 2022, Comcast and fellow cable giant Charter Communications each reported their first quarterly decline in broadband subscriber growth.",2025-02-02
+Pending home sales drop sharply in December as mortgage rates surge back over 7%,https://www.cnbc.com/2025/01/30/december-pending-home-sales-drop-as-mortgage-rates-surge.html,2025-01-30T17:42:21+0000,"Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors.The drop followed four straight months of gains and the index was at its lowest level since August.These so-called pending sales are an indicator of future closings and are the most current indicator of activity in the market. Buyers out shopping in December were facing a big jump in mortgage interest rates, which may have dampened demand.The average rate on the 30-year fixed mortgage went from a low of 6.68% on Dec. 6 to a high of 7.14% on Dec. 19. Realtors had been saying that buyers were getting used to a ""new normal"" of higher interest rates, but the 7% mark appears to be an emotional barrier for buyers.Sales of newly built homes, which are also based on signed contracts, saw gains in December, according to the U.S. Census, but homebuilders have been aggressively buying down mortgage rates to get customers in the door.Pending sales fell in all regions, with the West and Northeast seeing the biggest monthly drops at decreases of 8.1% and 10.3%, respectively. Those regions are where home prices are highest.""Contract activity fell more sharply in the high-priced regions of the Northeast and West, where elevated mortgage rates have appreciably cut affordability,"" said Lawrence Yun, chief economist for the National Association of Realtors. ""Job gains tend to have greater impact in more affordable regions. It is unclear if heavier-than-usual winter precipitation impacted the timing of purchases.""Prices are still stubbornly high and rising across the nation. Annual gains accelerated in late fall and early winter, according to the latest read from the S&P Case-Shiller national home price index.Homebuying demand does not appear to be bouncing back at all in January. Mortgage applications to purchase a home last week were 7% lower than they were the same week one year ago, according to the Mortgage Bankers Association.Homes are also selling at the slowest rate in five years, according to a new report from Redfin. As of the four weeks ending Jan. 26, the typical home listing that went under contract sat on the market for 54 days before the seller accepted an offer, the longest span since March 2020 and a week longer than this time last year.The weakness comes as the supply of homes for sale is finally rising significantly. The number of newly listed homes jumped just over 37% in January compared with December, according to Realtor.com.""The shift in seller activity could mark a turning point in the high mortgage rate-induced standoff between buyers and sellers,"" said Danielle Hale, chief economist at Realtor.com. ""The uptick is likely due to some residual benefit from fall's lower mortgage rates, which could fade.""",CNBC,30/01/2025,"['Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors.', 'The drop followed four straight months of gains and the index was at its lowest level since August.', 'These so-called pending sales are an indicator of future closings and are the most current indicator of activity in the market.', 'Buyers out shopping in December were facing a big jump in mortgage interest rates, which may have dampened demand.', 'The average rate on the 30-year fixed mortgage went from a low of 6.68% on Dec. 6 to a high of 7.14% on Dec. 19.', 'Realtors had been saying that buyers were getting used to a ""new normal"" of higher interest rates, but the 7% mark appears to be an emotional barrier for buyers.', 'Sales of newly built homes, which are also based on signed contracts, saw gains in December, according to the U.S. Census, but homebuilders have been aggressively buying down mortgage rates to get customers in the door.', 'Pending sales fell in all regions, with the West and Northeast seeing the biggest monthly drops at decreases of 8.1% and 10.3%, respectively.', 'Those regions are where home prices are highest.', '""Contract activity fell more sharply in the high-priced regions of the Northeast and West, where elevated mortgage rates have appreciably cut affordability,"" said Lawrence Yun, chief economist for the National Association of Realtors. ""', 'Job gains tend to have greater impact in more affordable regions.', 'It is unclear if heavier-than-usual winter precipitation impacted the timing of purchases.', '""Prices are still stubbornly high and rising across the nation.', 'Annual gains accelerated in late fall and early winter, according to the latest read from the S&P Case-Shiller national home price index.', 'Homebuying demand does not appear to be bouncing back at all in January.', 'Mortgage applications to purchase a home last week were 7% lower than they were the same week one year ago, according to the Mortgage Bankers Association.', 'Homes are also selling at the slowest rate in five years, according to a new report from Redfin.', 'As of the four weeks ending Jan. 26, the typical home listing that went under contract sat on the market for 54 days before the seller accepted an offer, the longest span since March 2020 and a week longer than this time last year.', 'The weakness comes as the supply of homes for sale is finally rising significantly.', 'The number of newly listed homes jumped just over 37% in January compared with December, according to Realtor.com.', '""The shift in seller activity could mark a turning point in the high mortgage rate-induced standoff between buyers and sellers,"" said Danielle Hale, chief economist at Realtor.com.', '""The uptick is likely due to some residual benefit from fall\'s lower mortgage rates, which could fade.""']",0.0039132363294904,Job gains tend to have greater impact in more affordable regions.,The weakness comes as the supply of homes for sale is finally rising significantly.,-0.2283051766847309,"Annual gains accelerated in late fall and early winter, according to the latest read from the S&P Case-Shiller national home price index.","Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors.",2025-02-02
+Sports bar chain Twin Peaks is going public. These restaurant companies are the next to watch,https://www.cnbc.com/2025/01/30/twin-peaks-goes-public-panera-fogo-de-chao-consider-ipos.html,2025-01-30T13:03:55+0000,"In this articleSports bar chain Twin Peaks starts trading Thursday on the Nasdaq using the ticker ""TWNP,"" making it the first restaurant initial public offering of the new year and a potential litmus test for others looking to go public.The IPO market has been tepid for several years, particularly for consumer companies. Soaring inflation, higher interest rates, cautious consumers and the risk of lower valuations scared many companies away from going public. Market conditions meant that some companies chose to seek a sale rather than trying their luck with the public markets. Even the rare success, like Cava's IPO, didn't convince others to follow its path.But many are hopeful that the IPO market will thaw this year.""Last year was a stronger year than 2023, and we're expecting 2025 to have more IPOs than 2024,"" said Nick Einhorn, vice president of research for Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs. ""That could certainly include more consumer IPOs.""Twin Peaks won't be the first consumer company to make the leap this year — and that debut may not inspire confidence.Pork producer Smithfield Foods, a subsidiary of Hong Kong-based WH Group, began trading on Tuesday. Shares fell 7% from its IPO price of $20 during its market debut. The company had already downsized its offering by 8.1 million shares and priced below its marketed range. Smithfield's challenges include its ties to China, U.S. trade tensions with Mexico and proposed immigration policies that would raise its labor costs.For its part, Twin Peaks, a Hooters rival known for its revealing uniform, is relatively small, with an estimated equity value of $1.04 billion to $1.28 billion and 115 restaurants, according to an investor presentation published by owner Fat Brands. (Fat Brands and its chair Andy Wiederhorn were criminally indicted last year for an alleged $47 million bogus loan scheme; both have denied the charges.)Fat Brands is spinning off Twin Peaks and plans to use the cash to pay off the debt on its balance sheet.Here are three other restaurant companies that are watching the IPO market for their chance to go public:JAB Holding, the investment arm of the Reimann family, has been looking to offload Panera Brands, the parent company of Panera Bread and Einstein Bros. Bagels, from its portfolio for several years. JAB originally took Panera Bread private in 2017 for $7.5 billion.In 2021, Panera announced an investment from Danny Meyer's special purpose acquisition company that would help the company go public. But the two parties called off the deal by mid-2022, citing market conditions.A year and half later, in December 2023, Panera Brands confidentially filed to go public. Six months after the confidential filing, the company announced a CEO transition and tied the shakeup to ""preparation for its eventual IPO.""However, a public filing never followed. The restaurant industry began to see a pullback in spending, as many consumers opted to cook at home instead of dining out at eateries.Plus, Panera's Charged Lemonade went viral for all of the wrong reasons; the company removed the highly caffeinated drink from its menu after multiple wrongful death lawsuits tied to it. Panera settled with the first plaintiff in October.Earlier this month, Panera's CEO resigned, and the company tapped its chief financial officer to step in as interim chief. With its leadership in flux, it looks unlikely that Panera will try to go public again this year.A year and a half ago, Bain Capital announced that it is buying Fogo de Chao, a fast-growing Brazilian steakhouse chain. Like Krispy Kreme, Sweetgreen and Dutch Bros., the chain had filed to go public in 2021 — but it missed the window.  Fogo de Chao has over 100 locations globally and 76 in the U.S. alone. The company plans to open another 15 restaurants this year.Whenever the IPO market is ready, so will Fogo de Chao.""If the optionality is there, then we'll launch,"" Fogo de Chao CEO Barry McGowan told CNBC at the ICR Conference in Orlando earlier in January. ""My hope is, this year, we'll see what happens to the consumer markets. I think it's going to get started this year or in the next year.""McGowan joked that Fogo de Chao's longtime CFO Tony Laday has filed more S-1 filings than any other chief financial officer; the company filed three the first time it went public, and seven before Bain bought it.Thanks to Bain's investment, Fogo de Chao isn't in a rush to go public.""We're not in a hurry to go. We don't want to file seven more times. We want to be more certain before we file,"" McGowan said.Roark Capital assembled Inspire Brands by cobbling together a slew of acquisitions into a restaurant conglomerate.Inspire's portfolio includes Arby's, Jimmy John's, Sonic, Buffalo Wild Wings, Dunkin' and Baskin Robbins. Across all of its brands, it has more than 32,600 restaurants globally and totals $30 billion in system sales.Nearly a year ago, Bloomberg reported that Roark was in early-stage IPO discussions with potential advisers and seeking a valuation of $20 billion for Inspire. But it's been crickets since then.Still, Pitchbook identified Inspire Brands as one of 50 private equity-backed names that could go public in 2025.""Obviously, private equity backers will want to exit their position eventually, and IPOs are often a way to do that,"" Einhorn said.And unlike Panera, Inspire has a stable leadership team. CEO Paul Brown co-founded the company and has held his role since 2018. CFO Kate Jaspon joined Inspire in 2021 after it acquired her employer Dunkin'. More than a decade ago, she was a vice president at Dunkin' during its own IPO.",CNBC,30/01/2025,"['In this articleSports bar chain Twin Peaks starts trading Thursday on the Nasdaq using the ticker ""TWNP,"" making it the first restaurant initial public offering of the new year and a potential litmus test for others looking to go public.', 'The IPO market has been tepid for several years, particularly for consumer companies.', 'Soaring inflation, higher interest rates, cautious consumers and the risk of lower valuations scared many companies away from going public.', 'Market conditions meant that some companies chose to seek a sale rather than trying their luck with the public markets.', ""Even the rare success, like Cava's IPO, didn't convince others to follow its path."", 'But many are hopeful that the IPO market will thaw this year.', '""Last year was a stronger year than 2023, and we\'re expecting 2025 to have more IPOs than 2024,"" said Nick Einhorn, vice president of research for Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs. ""', 'That could certainly include more consumer IPOs.', '""Twin Peaks won\'t be the first consumer company to make the leap this year — and that debut may not inspire confidence.', 'Pork producer Smithfield Foods, a subsidiary of Hong Kong-based WH Group, began trading on Tuesday.', 'Shares fell 7% from its IPO price of $20 during its market debut.', 'The company had already downsized its offering by 8.1 million shares and priced below its marketed range.', ""Smithfield's challenges include its ties to China, U.S. trade tensions with Mexico and proposed immigration policies that would raise its labor costs."", 'For its part, Twin Peaks, a Hooters rival known for its revealing uniform, is relatively small, with an estimated equity value of $1.04 billion to $1.28 billion and 115 restaurants, according to an investor presentation published by owner Fat Brands. (', 'Fat Brands and its chair Andy Wiederhorn were criminally indicted last year for an alleged $47 million bogus loan scheme; both have denied the charges.)Fat Brands is spinning off Twin Peaks and plans to use the cash to pay off the debt on its balance sheet.', 'Here are three other restaurant companies that are watching the IPO market for their chance to go public:JAB Holding, the investment arm of the Reimann family, has been looking to offload Panera Brands, the parent company of Panera Bread and Einstein Bros. Bagels, from its portfolio for several years.', 'JAB originally took Panera Bread private in 2017 for $7.5 billion.', ""In 2021, Panera announced an investment from Danny Meyer's special purpose acquisition company that would help the company go public."", 'But the two parties called off the deal by mid-2022, citing market conditions.', 'A year and half later, in December 2023, Panera Brands confidentially filed to go public.', 'Six months after the confidential filing, the company announced a CEO transition and tied the shakeup to ""preparation for its eventual IPO.""However, a public filing never followed.', 'The restaurant industry began to see a pullback in spending, as many consumers opted to cook at home instead of dining out at eateries.', ""Plus, Panera's Charged Lemonade went viral for all of the wrong reasons; the company removed the highly caffeinated drink from its menu after multiple wrongful death lawsuits tied to it."", 'Panera settled with the first plaintiff in October.', ""Earlier this month, Panera's CEO resigned, and the company tapped its chief financial officer to step in as interim chief."", 'With its leadership in flux, it looks unlikely that Panera will try to go public again this year.', 'A year and a half ago, Bain Capital announced that it is buying Fogo de Chao, a fast-growing Brazilian steakhouse chain.', 'Like Krispy Kreme, Sweetgreen and Dutch Bros., the chain had filed to go public in 2021 — but it missed the window.', 'Fogo de Chao has over 100 locations globally and 76 in the U.S. alone.', 'The company plans to open another 15 restaurants this year.', 'Whenever the IPO market is ready, so will Fogo de Chao.', '""If the optionality is there, then we\'ll launch,"" Fogo de Chao CEO Barry McGowan told CNBC at the ICR Conference in Orlando earlier in January. ""', ""My hope is, this year, we'll see what happens to the consumer markets."", ""I think it's going to get started this year or in the next year."", '""McGowan joked that Fogo de Chao\'s longtime CFO Tony Laday has filed more S-1 filings than any other chief financial officer; the company filed three the first time it went public, and seven before Bain bought it.', ""Thanks to Bain's investment, Fogo de Chao isn't in a rush to go public."", '""We\'re not in a hurry to go.', ""We don't want to file seven more times."", 'We want to be more certain before we file,"" McGowan said.', 'Roark Capital assembled Inspire Brands by cobbling together a slew of acquisitions into a restaurant conglomerate.', ""Inspire's portfolio includes Arby's, Jimmy John's, Sonic, Buffalo Wild Wings, Dunkin' and Baskin Robbins."", 'Across all of its brands, it has more than 32,600 restaurants globally and totals $30 billion in system sales.', 'Nearly a year ago, Bloomberg reported that Roark was in early-stage IPO discussions with potential advisers and seeking a valuation of $20 billion for Inspire.', ""But it's been crickets since then."", 'Still, Pitchbook identified Inspire Brands as one of 50 private equity-backed names that could go public in 2025.""Obviously, private equity backers will want to exit their position eventually, and IPOs are often a way to do that,"" Einhorn said.', 'And unlike Panera, Inspire has a stable leadership team.', 'CEO Paul Brown co-founded the company and has held his role since 2018.', ""CFO Kate Jaspon joined Inspire in 2021 after it acquired her employer Dunkin'."", ""More than a decade ago, she was a vice president at Dunkin' during its own IPO.""]",0.1443571251569377,"Even the rare success, like Cava's IPO, didn't convince others to follow its path.","Plus, Panera's Charged Lemonade went viral for all of the wrong reasons; the company removed the highly caffeinated drink from its menu after multiple wrongful death lawsuits tied to it.",-0.4373505661884944,"""Last year was a stronger year than 2023, and we're expecting 2025 to have more IPOs than 2024,"" said Nick Einhorn, vice president of research for Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs. ""","The restaurant industry began to see a pullback in spending, as many consumers opted to cook at home instead of dining out at eateries.",2025-02-02
+Here's what Trump’s tariff threats look like on the ground in China,https://www.cnbc.com/2025/01/31/trump-china-tariffs-manufacturers-prepare-for-higher-costs.html,2025-01-31T19:12:00+0000,"As President Donald Trump threatens to impose his first tranche of tariffs on the world Saturday, Chinese manufacturers are bracing for impact.Though Trump is proposing his biggest initial swing at Canada and Mexico with a proposed 25% tariff, the U.S. president still has China on his radar. After a report that the administration could delay at least some of the duties until March 1, the White House said Friday that Trump will follow through on plans to slap 10% tariffs on imports from China on Saturday. On the campaign trail, he threatened tariffs on Chinese-made goods of 60% or more.Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations. Even so, if Trump imposes the levies, they could raise prices for U.S. consumers on everything from furniture to electronics.In China, new duties could damage exporters who rely on the U.S. market. On a recent trip to the manufacturing belt of Guangdong province, CNBC found factory owners preparing for the tariff threat. Here are three main takeaways:Hoping to beat Trump's tariffs, furniture seller Harry Li is doubling the number of products he ships to the U.S. and stockpiling them in warehouses there.He expects the strategy will force him to raise prices as much as 10% -- no matter what Trump's tariffs turn out to be. He sells four out of five of his tables and other large furnishings to American consumers.""I have to ship them in advance and take on more risk,"" he said at his Foshan factory. His company Tianyiled plans to keep the extra inventory in the U.S. until Trump's tariff plan for China becomes clearer.In addition to stockpiling, Li is considering other ways to avoid the border taxes.""One thing we can do is to pick those products not on the tariff list and export them to the U.S. instead,"" he said. In the nearby industrial city of Guangzhou, water purifier maker Zheng Yu is scouring the globe to find a new production base to supply the U.S. outside of China.He plans to set up assembly lines in a third country, buying some equipment and components from China while hiring locally for certain jobs. Zheng's company Tesran is considering Vietnam, Malaysia, and Mexico as manufacturing bases, but is leaning toward Dubai even though costs will be 30% higher than in China.""The domestic market is too competitive. We have been wanting to jump out of it for some time,"" he said. ""Trump's tariffs gave us the final push.""The Tesran founder is also already in touch with his U.S. clients to discuss splitting the tariffs. He is hoping his partners will take on at least half of the cost.All the businesses CNBC spoke to had a breaking point at which it would no longer make sense to sell to the U.S. The tariff thresholds ranged from 20 to 60%, and depended on the industry and the size of a company's margins.Water purifier maker Zheng said another wild card is whether President Trump unleashes proposed universal tariffs that, in his case, would raise costs for Dubai. ""Then the U.S. is out,"" he said.Across Guangzhou, Leng Rong, who makes skin care products, is worried he might have to stop exporting to the U.S. completely.His goods got hit with tariffs north of 20% during Trump's first term and it caused big losses for his company, Keni.With his thin margins, Leng is hoping he can pass the cost of any tariff to his customers.""In the past, we all felt the U.S. market was the greatest market that everyone wanted to sell to. But with all the uncertainties and unfriendly decisions, the U.S. is less attractive now,"" Leng said at his Guangzhou factory. ""It's a real pity.""",CNBC,31/01/2025,"['As President Donald Trump threatens to impose his first tranche of tariffs on the world Saturday, Chinese manufacturers are bracing for impact.', 'Though Trump is proposing his biggest initial swing at Canada and Mexico with a proposed 25% tariff, the U.S. president still has China on his radar.', 'After a report that the administration could delay at least some of the duties until March 1, the White House said Friday that Trump will follow through on plans to slap 10% tariffs on imports from China on Saturday.', 'On the campaign trail, he threatened tariffs on Chinese-made goods of 60% or more.', 'Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations.', 'Even so, if Trump imposes the levies, they could raise prices for U.S. consumers on everything from furniture to electronics.', 'In China, new duties could damage exporters who rely on the U.S. market.', 'On a recent trip to the manufacturing belt of Guangdong province, CNBC found factory owners preparing for the tariff threat.', ""Here are three main takeaways:Hoping to beat Trump's tariffs, furniture seller Harry Li is doubling the number of products he ships to the U.S. and stockpiling them in warehouses there."", ""He expects the strategy will force him to raise prices as much as 10% -- no matter what Trump's tariffs turn out to be."", 'He sells four out of five of his tables and other large furnishings to American consumers.', '""I have to ship them in advance and take on more risk,"" he said at his Foshan factory.', ""His company Tianyiled plans to keep the extra inventory in the U.S. until Trump's tariff plan for China becomes clearer."", 'In addition to stockpiling, Li is considering other ways to avoid the border taxes.', '""One thing we can do is to pick those products not on the tariff list and export them to the U.S.instead,"" he said.', 'In the nearby industrial city of Guangzhou, water purifier maker Zheng Yu is scouring the globe to find a new production base to supply the U.S. outside of China.', 'He plans to set up assembly lines in a third country, buying some equipment and components from China while hiring locally for certain jobs.', ""Zheng's company Tesran is considering Vietnam, Malaysia, and Mexico as manufacturing bases, but is leaning toward Dubai even though costs will be 30% higher than in China."", '""The domestic market is too competitive.', 'We have been wanting to jump out of it for some time,"" he said. ""', ""Trump's tariffs gave us the final push."", '""The Tesran founder is also already in touch with his U.S. clients to discuss splitting the tariffs.', 'He is hoping his partners will take on at least half of the cost.', ""All the businesses CNBC spoke to had a breaking point at which it would no longer make sense to sell to the U.S. The tariff thresholds ranged from 20 to 60%, and depended on the industry and the size of a company's margins."", 'Water purifier maker Zheng said another wild card is whether President Trump unleashes proposed universal tariffs that, in his case, would raise costs for Dubai.', '""Then the U.S. is out,"" he said.', 'Across Guangzhou, Leng Rong, who makes skin care products, is worried he might have to stop exporting to the U.S. completely.', ""His goods got hit with tariffs north of 20% during Trump's first term and it causedbig losses forhis company, Keni."", 'With his thin margins, Leng is hoping he can pass the cost of any tariff to his customers.', '""In the past, we all felt the U.S. market was the greatest market that everyone wanted to sell to.', 'But with all the uncertainties and unfriendly decisions, the U.S. is less attractive now,"" Leng said at his Guangzhou factory. ""', 'It\'s a real pity.""']",-0.0509247328446116,"Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations.","As President Donald Trump threatens to impose his first tranche of tariffs on the world Saturday, Chinese manufacturers are bracing for impact.",-0.3858421146869659,"Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations.","His goods got hit with tariffs north of 20% during Trump's first term and it causedbig losses forhis company, Keni.",2025-02-02
+"FDA approves Vertex’s non-opioid painkiller, first new kind of pain medicine in decades",https://www.cnbc.com/2025/01/30/fda-approves-vertex-non-opioid-painkiller-drug.html,2025-01-31T15:12:11+0000,"In this articleThe Food and Drug Administration on Thursday approved Vertex Pharmaceuticals' non-opioid painkiller pill, a new alternative for pain relief that comes without the risk of addiction. Vertex is now the first drugmaker in decades to gain U.S. approval for a new type of pain medicine. It's a milestone after a long history of mostly unsuccessful efforts to develop painkillers without the destructive dependency of cheap and widely available opioids, which have caused a horrific epidemic of abuse and overdose in the U.S.Vertex's drug, Journavx, is specifically approved for the treatment of moderate to severe acute pain, which is usually caused by injury, surgery, illness, trauma or painful medical procedures and likely eases with time. Around 80 million patients are prescribed a medicine for their moderate to severe acute pain every year in the U.S., according to Vertex. Almost 10% of patients with acute pain who are treated initially with an opioid will go on to have prolonged opioid use, and roughly 85,000 people will develop opioid use disorder annually, Vertex said in a statement.""We have the opportunity to change the paradigm of acute pain management and establish a new standard of care,"" Dr. Reshma Kewalramani, Vertex CEO, said in a statement.Vertex said Journavx will have a list price of $15.50 per 50-milligram pill. Wall Street analysts have said that the medication could become a blockbuster drug if it wins approval from regulators, estimating its annual sales could exceed $1 billion. The experience of pain starts in a nerve ending, and the body detects the pressure and sends a signal to the spinal cord and then the brain. Vertex's treatment works by blocking pain signals at their origin before they reach the brain. That's different from opioids, which act directly on the brain to block pain, triggering the brain's rewards centers in a way that can feed addiction.The approval underscores the ""FDA's commitment to approving safe and effective alternatives to opioids for pain management,"" said Dr. Jacqueline Corrigan-Curay, acting director of the FDA's Center for Drug Evaluation and Research, in a release.Vertex's painkiller was more effective than a placebo at reducing the intensity of pain after 48 hours in two late-stage studies on more than 1,000 patients who had abdominoplasties, also known as ""tummy tucks,"" and roughly another thousand in people who had bunion surgery. Those two procedures are commonly used in studies of people with acute pain.The painkiller, however, failed to meet the secondary goal in both trials of reducing pain when compared with a combination of the opioid drug hydrocodone, which is frequently abused, and acetaminophen, the basis for popular pain medications such as Tylenol.In both trials, rates of adverse side effects were lower in those who received Vertex's drug compared with people who took a placebo. The most commonly reported adverse events among people who received Journavx were itching, muscle spasms and rash, among others, according to the FDA.In a separate phase three study, more than 83% of patients said in a survey that the drug was good, very good or excellent at easing pain. Those people had undergone various surgical or nonsurgical procedures.The bigger opportunity for Vertex may be to win FDA approval in chronic pain. That's an area where the risk of addiction to prescription opioids can be greater, according to the Centers for Disease Control and Prevention. In 2023, the company's painkiller produced positive results in a mid-stage trial in diabetes patients suffering from a chronic nerve condition.",CNBC,31/01/2025,"[""In this articleThe Food and Drug Administration on Thursday approved Vertex Pharmaceuticals' non-opioid painkiller pill, a new alternative for pain relief that comes without the risk of addiction."", 'Vertex is now the first drugmaker in decades to gain U.S. approval for a new type of pain medicine.', ""It's a milestone after a long history of mostly unsuccessful efforts to develop painkillers without the destructive dependency of cheap and widely available opioids, which have caused a horrific epidemic of abuse and overdose in the U.S.Vertex's drug, Journavx, is specifically approved for the treatment of moderate to severe acute pain, which is usually caused by injury, surgery, illness, trauma or painful medical procedures and likely eases with time."", 'Around 80 million patients are prescribed a medicine for their moderate to severe acute pain every year in the U.S., according to Vertex.', 'Almost 10% of patients with acute pain who are treated initially with an opioid will go on to have prolonged opioid use, and roughly 85,000 people will develop opioid use disorder annually, Vertex said in a statement.', '""We have the opportunity to change the paradigm of acute pain management and establish a new standard of care,"" Dr. Reshma Kewalramani, Vertex CEO, said in a statement.', 'Vertex said Journavx will have a list price of $15.50 per 50-milligram pill.', 'Wall Street analysts have said that the medication could become a blockbuster drug if it wins approval from regulators, estimating its annual sales could exceed $1 billion.', 'The experience of pain starts in a nerve ending, and the body detects the pressure and sends a signal to the spinal cord and then the brain.', ""Vertex's treatment works by blocking pain signals at their origin before they reach the brain."", ""That's different from opioids, which act directly on the brain to block pain, triggering the brain's rewards centers in a way that can feed addiction."", 'The approval underscores the ""FDA\'s commitment to approving safe and effective alternatives to opioids for pain management,"" said Dr. Jacqueline Corrigan-Curay, acting director of the FDA\'s Center for Drug Evaluation and Research, in a release.', 'Vertex\'s painkiller was more effective than a placebo at reducing the intensity of pain after 48 hours in two late-stage studies on more than 1,000 patients who had abdominoplasties, also known as ""tummy tucks,"" and roughly another thousand in people who had bunion surgery.', 'Those two procedures are commonly used in studies of people with acute pain.', 'The painkiller, however, failed to meet the secondary goal in both trials of reducing pain when compared with a combination of the opioid drug hydrocodone, which is frequently abused, and acetaminophen, the basis for popular pain medications such as Tylenol.', ""In both trials, rates of adverse side effects were lower in those who received Vertex's drug compared with people who took a placebo."", 'The most commonly reported adverse events among people who received Journavx were itching, muscle spasms and rash, among others, according to the FDA.In a separate phase three study, more than 83% of patients said in a survey that the drug was good, very good or excellent at easing pain.', 'Those people had undergone various surgical or nonsurgical procedures.', 'The bigger opportunity for Vertex may be to win FDA approval in chronic pain.', ""That's an area where the risk of addiction to prescription opioids can be greater, according to the Centers for Disease Control and Prevention."", ""In 2023, the company's painkiller produced positive results in a mid-stage trial in diabetes patients suffering from a chronic nerve condition.""]",-0.0743587404770383,"Wall Street analysts have said that the medication could become a blockbuster drug if it wins approval from regulators, estimating its annual sales could exceed $1 billion.","It's a milestone after a long history of mostly unsuccessful efforts to develop painkillers without the destructive dependency of cheap and widely available opioids, which have caused a horrific epidemic of abuse and overdose in the U.S.Vertex's drug, Journavx, is specifically approved for the treatment of moderate to severe acute pain, which is usually caused by injury, surgery, illness, trauma or painful medical procedures and likely eases with time.",0.6661437253157297,"In 2023, the company's painkiller produced positive results in a mid-stage trial in diabetes patients suffering from a chronic nerve condition.","The painkiller, however, failed to meet the secondary goal in both trials of reducing pain when compared with a combination of the opioid drug hydrocodone, which is frequently abused, and acetaminophen, the basis for popular pain medications such as Tylenol.",2025-02-02
+"FDA approves Novo Nordisk's Ozempic to treat chronic kidney disease in those with diabetes, expanding its use",https://www.cnbc.com/2025/01/28/novo-nordisks-ozempic-wins-fda-approval-for-chronic-kidney-disease.html,2025-01-28T20:07:53+0000,"In this articleThe Food and Drug Administration on Tuesday approved Novo Nordisk's Ozempic to treat chronic kidney disease in patients who also have Type 2 diabetes, expanding the use of the wildly popular injection in the U.S. The drug is already widely used and covered to treat Type 2 diabetes. The FDA's decision means Ozempic can now be used to reduce the risk of kidney disease worsening, kidney failure, and death from cardiovascular disease in patients with both chronic kidney disease and diabetes.The decision could transform how doctors treat patients with chronic kidney disease, which involves a gradual loss of kidney function and is one of the leading causes of death in the U.S. Around 37 million American adults are living with chronic kidney disease, according to Novo Nordisk.Diabetes is a key risk factor for kidney disease. Roughly 40% of Type 2 diabetes patients have the condition, which can cause additional sickness such as increased risk of cardiovascular problems and death, Novo Nordisk said.""All chronic kidney disease is progressive. It's a year-on-year, relentless decline in renal function,"" Stephen Gough, Novo Nordisk's global chief medical officer, said in an interview, referring to the kidney's ability to filter waste from the blood.He noted that when the condition progresses to the point of kidney failure — also known as end-stage kidney disease — patients require long-term dialysis treatments to remove waste from the blood, or a kidney transplant. Both are burdensome, and death among patients with end-stage kidney disease is ""very high,"" particularly from cardiovascular disease, according to Gough.The approval also demonstrates that a blockbuster class of diabetes and weight loss drugs called GLP-1s have significant health benefits beyond regulating blood sugar and suppressing appetite. Ozempic reduced the risk of severe kidney outcomes — including kidney failure, reduction in kidney function, or death from kidney or heart causes — by 24% in diabetic patients with chronic kidney disease compared with a placebo, according to results of a late-stage trial that the approval was based on.In patients who took Ozempic, kidney function declined more slowly, the risk of major cardiovascular events such as heart attack dropped 18% and the risk of death from any cause fell 20% compared with the placebo. Ozempic also cut the risk of cardiovascular-related deaths by 29%.""We know that, unfortunately, cardiovascular disease and chronic kidney disease just go hand in hand,"" Gough said.He added that the major treatments patients typically receive when they have the earliest signs of chronic kidney disease aim to reduce cardiovascular risk factors by paying attention to blood pressure.The rate of serious adverse side effects was 49.6% in patients who took Ozempic, lower than the 53.8% seen in the group that received a placebo. There was a slightly higher rate of discontinuations among Ozempic patients due to gastrointestinal side effects commonly seen with GLP-1s, such as nausea and vomiting.EU regulators approved Ozempic for the same use in December. Novo Nordisk ended the phase three trial in October, a year earlier than expected, in response to positive results. At the time, the Danish company's announcement caused shares of kidney dialysis companies to plummet about 20% in a single day. The trial, called FLOW, started in 2019 and followed roughly 3,500 patients with diabetes and moderate to severe chronic kidney disease.""From my point of view as a doctor, you don't get [diabetes, obesity, chronic kidney disease and cardiovascular disease] in isolation,"" Gough said. ""These illnesses, unfortunately, co-segregate. They cluster within the same individuals. So if you have a medicine that can target each of these co-morbidities in one injection, then you're addressing what really matters to the patient.""The approval comes after the Biden administration selected three of Novo Nordisk's drugs with the active ingredient semaglutide for the second cycle of Medicare drug price negotiations. That includes Ozempic, its weight loss counterpart Wegovy and another diabetes treatment called Rybelsus.  The FDA's decision also comes as Novo Nordisk faces increased competition from Eli Lilly and tries to win expanded insurance coverage for Wegovy.Last year, Wegovy won approval in the U.S. for use in slashing the risk of major cardiovascular events such as heart attacks and strokes. Novo Nordisk is also studying Wegovy as a potential treatment for fatty liver disease.",CNBC,28/01/2025,"[""In this articleThe Food and Drug Administration on Tuesday approved Novo Nordisk's Ozempic to treat chronic kidney disease in patients who also have Type 2 diabetes, expanding the use of the wildly popular injection in the U.S.The drug is already widely used and covered to treat Type 2 diabetes."", ""The FDA's decision means Ozempic can now be used to reduce the risk of kidney disease worsening, kidney failure, and death from cardiovascular disease in patients with both chronic kidney disease and diabetes."", 'The decision could transform how doctors treat patients with chronic kidney disease, which involves a gradual loss of kidney function and is one of the leading causes of death in the U.S.Around 37 million American adults are living with chronic kidney disease, according to Novo Nordisk.', 'Diabetes is a key risk factor for kidney disease.', 'Roughly 40% of Type 2 diabetes patients have the condition, which can cause additional sickness such as increased risk of cardiovascular problems and death, Novo Nordisk said.', '""All chronic kidney disease is progressive.', 'It\'s a year-on-year, relentless decline in renal function,"" Stephen Gough, Novo Nordisk\'s global chief medical officer, said in an interview, referring to the kidney\'s ability to filter waste from the blood.', 'He noted that when the condition progresses to the point of kidney failure — also known as end-stage kidney disease — patients require long-term dialysis treatments to remove waste from the blood, or a kidney transplant.', 'Both are burdensome, and death among patients with end-stage kidney disease is ""very high,"" particularly from cardiovascular disease, according to Gough.', 'The approval also demonstrates that a blockbuster class of diabetes and weight loss drugs called GLP-1s have significant health benefits beyond regulating blood sugar and suppressing appetite.', 'Ozempic reduced the risk of severe kidney outcomes — including kidney failure, reduction in kidney function, or death from kidney or heart causes — by 24% in diabetic patients with chronic kidney disease compared with a placebo, according to results of a late-stage trial that the approval was based on.', 'In patients who took Ozempic, kidney function declined more slowly, the risk of major cardiovascular events such as heart attack dropped 18% and the risk of death from any cause fell 20% compared with the placebo.', 'Ozempic also cut the risk of cardiovascular-related deaths by 29%.""We know that, unfortunately, cardiovascular disease and chronic kidney disease just go hand in hand,"" Gough said.', 'He added that the major treatments patients typically receive when they have the earliest signs of chronic kidney disease aim to reduce cardiovascular risk factors by paying attention to blood pressure.', 'The rate of serious adverse side effects was 49.6% in patients who took Ozempic, lower than the 53.8% seen in the group that received a placebo.', 'There was a slightly higher rate of discontinuations among Ozempic patients due to gastrointestinal side effects commonly seen with GLP-1s, such as nausea and vomiting.', 'EU regulators approved Ozempic for the same use in December.', 'Novo Nordisk ended the phase three trial in October, a year earlier than expected, in response to positive results.', ""At the time, the Danish company's announcement caused shares of kidney dialysis companies to plummet about 20% in a single day."", 'The trial, called FLOW, started in 2019 and followed roughly 3,500 patients with diabetes and moderate to severe chronic kidney disease.', '""From my point of view as a doctor, you don\'t get [diabetes, obesity, chronic kidney disease and cardiovascular disease] in isolation,"" Gough said. ""', 'These illnesses, unfortunately, co-segregate.', 'They cluster within the same individuals.', ""So if you have a medicine that can target each of these co-morbidities in one injection, then you're addressing what really matters to the patient."", '""The approval comes after the Biden administration selected three of Novo Nordisk\'s drugs with the active ingredient semaglutide for the second cycle of Medicare drug price negotiations.', 'That includes Ozempic, its weight loss counterpart Wegovy and another diabetes treatment called Rybelsus.', ""The FDA's decision also comes as Novo Nordisk faces increased competition from Eli Lilly and tries to win expanded insurance coverage for Wegovy."", 'Last year, Wegovy won approval in the U.S. for use in slashing the risk of major cardiovascular events such as heart attacks and strokes.', 'Novo Nordisk is also studying Wegovy as a potential treatment for fatty liver disease.']",-0.130884842704226,"In this articleThe Food and Drug Administration on Tuesday approved Novo Nordisk's Ozempic to treat chronic kidney disease in patients who also have Type 2 diabetes, expanding the use of the wildly popular injection in the U.S.The drug is already widely used and covered to treat Type 2 diabetes.","The FDA's decision means Ozempic can now be used to reduce the risk of kidney disease worsening, kidney failure, and death from cardiovascular disease in patients with both chronic kidney disease and diabetes.",0.3085689147313435,"Last year, Wegovy won approval in the U.S. for use in slashing the risk of major cardiovascular events such as heart attacks and strokes.","At the time, the Danish company's announcement caused shares of kidney dialysis companies to plummet about 20% in a single day.",2025-02-02
+Planet lands $230 million contract for Pelican imagery satellites,https://www.cnbc.com/2025/01/29/planet-lands-230-million-contract-for-pelican-imagery-satellites.html,2025-01-29T21:23:41+0000,"In this articleSatellite imagery and data analysis company Planet announced it had signed a $230 million contract on Wednesday, with an anchor customer furthering the rollout of its next-generation Pelican satellites.""It is a momentum-building event. … It's both our biggest deal ever and it's a significant step for us into this satellite services business,"" Planet CEO Will Marshall told CNBC.Planet's deal will see it build Pelican satellites in service to a company in the Asia-Pacific region. Planet said the customer will be identified at a later date, but described the company as a long-standing partner. Marshall said the contract covers ""a couple of years to construct"" the satellites ""and then five years of operation.""""They get dedicated access to the satellites that we're launching for them within their [area of interest] in Asia, and then for the rest of the world, we get to license that data,"" Marshall said.While the deal does not change Planet's previous guidance for its fiscal 2025 fourth-quarter results, the company expects to begin seeing benefits to its balance sheet in fiscal 2026, with payments for building the satellites and providing services to be recognized over about seven years.Planet, which operates more than 200 satellites in orbit, in 2021 unveiled its plans for the more high-powered line of Pelican satellites. Intended to replace the SkySat satellites acquired from Google in 2017, Planet aims to deploy a constellation of as many as 32 Pelican satellites. The company launched its first operational satellite for the constellation, Pelican-2, earlier this month, with the spacecraft notably featuring Nvidia's Jetson edge artificial intelligence platform for improved data processing.""We only had financials to specifically build a subset of [those 32 Pelican satellites], and now we've got the financials to build more, and so we're scaling much faster,"" Marshall said.Shares of Planet rose as much as 14% in trading Wednesday before giving up early gains to end the day 1.65% higher. Planet late Tuesday announced a multiyear contract worth an unspecified amount with the European Space Agency.Additionally, Marshall said the Pelican deal represents Planet's entrance into the satellite services market, effectively selling its spacecraft as an adaptable base to specific customers. It is a market that Planet first dipped into with its Tanager satellite product line, the first of which it built and deployed for the nonprofit group Carbon Mapper.""These customers are often customers we've been working with for years, so they already know and trust our data and our ability to execute. They know we've got a vertically integrated stack of tech, so they know we can deliver satellites in space that work and operate,"" Marshall said.""It's synergistic with our data business,"" he added.Planet went public in 2021 amid the SPAC boom. Similar to other space companies that went public at that time, Planet's stock slid steadily in the years following — with company shares getting hit amid missed revenue targets and workforce layoffs — before bouncing back in 2024.While it lags top-performing space pure-play stocks over the past year, Planet shares have more than doubled over the past 12 months, according to FactSet data.",CNBC,29/01/2025,"['In this articleSatellite imagery and data analysis company Planet announced it had signed a $230 million contract on Wednesday, with an anchor customer furthering the rollout of its next-generation Pelican satellites.', '""It is a momentum-building event. …', 'It\'s both our biggest deal ever and it\'s a significant step for us into this satellite services business,"" Planet CEO Will Marshall told CNBC.Planet\'s deal will see it build Pelican satellites in service to a company in the Asia-Pacific region.', 'Planet said the customer will be identified at a later date, but described the company as a long-standing partner.', 'Marshall said the contract covers ""a couple of years to construct"" the satellites ""and then five years of operation.', '""""They get dedicated access to the satellites that we\'re launching for them within their [area of interest] in Asia, and then for the rest of the world, we get to license that data,"" Marshall said.', ""While the deal does not change Planet's previous guidance for its fiscal 2025 fourth-quarter results, the company expects to begin seeing benefits to its balance sheet in fiscal 2026, with payments for building the satellites and providing services to be recognized over about seven years."", 'Planet, which operates more than 200 satellites in orbit, in 2021 unveiled its plans for the more high-powered line of Pelican satellites.', 'Intended to replace the SkySat satellites acquired from Google in 2017, Planet aims to deploy a constellation of as many as 32 Pelican satellites.', ""The company launched its first operational satellite for the constellation, Pelican-2, earlier this month, with the spacecraft notably featuring Nvidia's Jetson edge artificial intelligence platform for improved data processing."", '""We only had financials to specifically build a subset of [those 32 Pelican satellites], and now we\'ve got the financials to build more, and so we\'re scaling much faster,"" Marshall said.', 'Shares of Planet rose as much as 14% in trading Wednesday before giving up early gains to end the day 1.65% higher.', 'Planet late Tuesday announced a multiyear contract worth an unspecified amount with the European Space Agency.', ""Additionally, Marshall said the Pelican deal represents Planet's entrance into the satellite services market, effectively selling its spacecraft as an adaptable base to specific customers."", 'It is a market that Planet first dipped into with its Tanager satellite product line, the first of which it built and deployed for the nonprofit group Carbon Mapper.', '""These customers are often customers we\'ve been working with for years, so they already know and trust our data and our ability to execute.', 'They know we\'ve got a vertically integrated stack of tech, so they know we can deliver satellites in space that work and operate,"" Marshall said.', '""It\'s synergistic with our data business,"" he added.', 'Planet went public in 2021 amid the SPAC boom.', ""Similar to other space companies that went public at that time, Planet's stock slid steadily in the years following — with company shares getting hit amid missed revenue targets and workforce layoffs — before bouncing back in 2024.While it lags top-performing space pure-play stocks over the past year, Planet shares have more than doubled over the past 12 months, according to FactSet data.""]",0.2290362556712767,"The company launched its first operational satellite for the constellation, Pelican-2, earlier this month, with the spacecraft notably featuring Nvidia's Jetson edge artificial intelligence platform for improved data processing.",,0.7495498731732368,"While the deal does not change Planet's previous guidance for its fiscal 2025 fourth-quarter results, the company expects to begin seeing benefits to its balance sheet in fiscal 2026, with payments for building the satellites and providing services to be recognized over about seven years.","Similar to other space companies that went public at that time, Planet's stock slid steadily in the years following — with company shares getting hit amid missed revenue targets and workforce layoffs — before bouncing back in 2024.While it lags top-performing space pure-play stocks over the past year, Planet shares have more than doubled over the past 12 months, according to FactSet data.",2025-02-02
+Boeing is working with Elon Musk to deliver Air Force One replacements sooner,https://www.cnbc.com/2025/01/28/elon-musk-boeing-air-force-one-replacements.html,2025-01-28T18:13:28+0000,"In this articleBoeing is working with Trump advisor Elon Musk on ways to deliver delayed, overbudget Air Force One replacements sooner, CEO Kelly Ortberg said Tuesday.The pair of Boeing 747s that will serve as the next Air Force One aircraft are more than $2 billion over budget and years late, which the company has attributed to design changes, labor constraints and supply chain problems. President Donald Trump struck a deal for the aircraft during his first term, after threatening to ""cancel order!"" before he took office in 2017, complaining about high costs.""We've been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC's Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.It is not clear whether the aircraft will be delivered before Trump's current term is up. An Air Force spokesperson told CNBC that an updated delivery schedule from Boeing is expected in the spring.Trump cut a cake adorned with a model of Air Force One — in a new paint scheme — with a sword at his Jan. 20 inaugural ball.Musk, whose company SpaceX competes with Boeing's space unit, has worked closely with Trump in recent months. The billionaire is also heading Trump's commission that he tasked with reducing government spending.Musk and the White House didn't immediately comment.""The president wants those planes sooner so we're working with Elon to see what can we do to pull up the schedule of those programs,"" Ortberg said.Boeing in the last quarter took $1.7 billion in pretax charges in its defense and space unit, including for the Air Force One program. Ortberg, who became CEO in August, replaced the head of that business in September with an internal, interim leader.",CNBC,28/01/2025,"['In this articleBoeing is working with Trump advisor Elon Musk on ways to deliver delayed, overbudget Air Force One replacements sooner, CEO Kelly Ortberg said Tuesday.', 'The pair of Boeing 747s that will serve as the next Air Force One aircraft are more than $2 billion over budget and years late, which the company has attributed to design changes, labor constraints and supply chain problems.', 'President Donald Trump struck a deal for the aircraft during his first term, after threatening to ""cancel order!""', 'before he took office in 2017, complaining about high costs.', '""We\'ve been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC\'s Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.', ""It is not clear whether the aircraft will be delivered before Trump's current term is up."", 'An Air Force spokesperson told CNBC that an updated delivery schedule from Boeing is expected in the spring.', 'Trump cut a cake adorned with a model of Air Force One — in a new paint scheme — with a sword at his Jan. 20 inaugural ball.', ""Musk, whose company SpaceX competes with Boeing's space unit, has worked closely with Trump in recent months."", ""The billionaire is also heading Trump's commission that he tasked with reducing government spending."", ""Musk and the White House didn't immediately comment."", '""The president wants those planes sooner so we\'re working with Elon to see what can we do to pull up the schedule of those programs,"" Ortberg said.', 'Boeing in the last quarter took $1.7 billion in pretax charges in its defense and space unit, including for the Air Force One program.', 'Ortberg, who became CEO in August, replaced the head of that business in September with an internal, interim leader.']",-0.123036761516436,"""We've been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC's Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.","President Donald Trump struck a deal for the aircraft during his first term, after threatening to ""cancel order!""",0.3317801157633464,"""We've been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC's Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.","The pair of Boeing 747s that will serve as the next Air Force One aircraft are more than $2 billion over budget and years late, which the company has attributed to design changes, labor constraints and supply chain problems.",2025-02-02
+"FDA approves Novo Nordisk's Ozempic to treat chronic kidney disease in those with diabetes, expanding its use",https://www.cnbc.com/2025/01/28/novo-nordisks-ozempic-wins-fda-approval-for-chronic-kidney-disease.html,2025-01-28T20:07:53+0000,"In this articleThe Food and Drug Administration on Tuesday approved Novo Nordisk's Ozempic to treat chronic kidney disease in patients who also have Type 2 diabetes, expanding the use of the wildly popular injection in the U.S. The drug is already widely used and covered to treat Type 2 diabetes. The FDA's decision means Ozempic can now be used to reduce the risk of kidney disease worsening, kidney failure, and death from cardiovascular disease in patients with both chronic kidney disease and diabetes.The decision could transform how doctors treat patients with chronic kidney disease, which involves a gradual loss of kidney function and is one of the leading causes of death in the U.S. Around 37 million American adults are living with chronic kidney disease, according to Novo Nordisk.Diabetes is a key risk factor for kidney disease. Roughly 40% of Type 2 diabetes patients have the condition, which can cause additional sickness such as increased risk of cardiovascular problems and death, Novo Nordisk said.""All chronic kidney disease is progressive. It's a year-on-year, relentless decline in renal function,"" Stephen Gough, Novo Nordisk's global chief medical officer, said in an interview, referring to the kidney's ability to filter waste from the blood.He noted that when the condition progresses to the point of kidney failure — also known as end-stage kidney disease — patients require long-term dialysis treatments to remove waste from the blood, or a kidney transplant. Both are burdensome, and death among patients with end-stage kidney disease is ""very high,"" particularly from cardiovascular disease, according to Gough.The approval also demonstrates that a blockbuster class of diabetes and weight loss drugs called GLP-1s have significant health benefits beyond regulating blood sugar and suppressing appetite. Ozempic reduced the risk of severe kidney outcomes — including kidney failure, reduction in kidney function, or death from kidney or heart causes — by 24% in diabetic patients with chronic kidney disease compared with a placebo, according to results of a late-stage trial that the approval was based on.In patients who took Ozempic, kidney function declined more slowly, the risk of major cardiovascular events such as heart attack dropped 18% and the risk of death from any cause fell 20% compared with the placebo. Ozempic also cut the risk of cardiovascular-related deaths by 29%.""We know that, unfortunately, cardiovascular disease and chronic kidney disease just go hand in hand,"" Gough said.He added that the major treatments patients typically receive when they have the earliest signs of chronic kidney disease aim to reduce cardiovascular risk factors by paying attention to blood pressure.The rate of serious adverse side effects was 49.6% in patients who took Ozempic, lower than the 53.8% seen in the group that received a placebo. There was a slightly higher rate of discontinuations among Ozempic patients due to gastrointestinal side effects commonly seen with GLP-1s, such as nausea and vomiting.EU regulators approved Ozempic for the same use in December. Novo Nordisk ended the phase three trial in October, a year earlier than expected, in response to positive results. At the time, the Danish company's announcement caused shares of kidney dialysis companies to plummet about 20% in a single day. The trial, called FLOW, started in 2019 and followed roughly 3,500 patients with diabetes and moderate to severe chronic kidney disease.""From my point of view as a doctor, you don't get [diabetes, obesity, chronic kidney disease and cardiovascular disease] in isolation,"" Gough said. ""These illnesses, unfortunately, co-segregate. They cluster within the same individuals. So if you have a medicine that can target each of these co-morbidities in one injection, then you're addressing what really matters to the patient.""The approval comes after the Biden administration selected three of Novo Nordisk's drugs with the active ingredient semaglutide for the second cycle of Medicare drug price negotiations. That includes Ozempic, its weight loss counterpart Wegovy and another diabetes treatment called Rybelsus.  The FDA's decision also comes as Novo Nordisk faces increased competition from Eli Lilly and tries to win expanded insurance coverage for Wegovy.Last year, Wegovy won approval in the U.S. for use in slashing the risk of major cardiovascular events such as heart attacks and strokes. Novo Nordisk is also studying Wegovy as a potential treatment for fatty liver disease.",CNBC,28/01/2025,"[""In this articleThe Food and Drug Administration on Tuesday approved Novo Nordisk's Ozempic to treat chronic kidney disease in patients who also have Type 2 diabetes, expanding the use of the wildly popular injection in the U.S.The drug is already widely used and covered to treat Type 2 diabetes."", ""The FDA's decision means Ozempic can now be used to reduce the risk of kidney disease worsening, kidney failure, and death from cardiovascular disease in patients with both chronic kidney disease and diabetes."", 'The decision could transform how doctors treat patients with chronic kidney disease, which involves a gradual loss of kidney function and is one of the leading causes of death in the U.S.Around 37 million American adults are living with chronic kidney disease, according to Novo Nordisk.', 'Diabetes is a key risk factor for kidney disease.', 'Roughly 40% of Type 2 diabetes patients have the condition, which can cause additional sickness such as increased risk of cardiovascular problems and death, Novo Nordisk said.', '""All chronic kidney disease is progressive.', 'It\'s a year-on-year, relentless decline in renal function,"" Stephen Gough, Novo Nordisk\'s global chief medical officer, said in an interview, referring to the kidney\'s ability to filter waste from the blood.', 'He noted that when the condition progresses to the point of kidney failure — also known as end-stage kidney disease — patients require long-term dialysis treatments to remove waste from the blood, or a kidney transplant.', 'Both are burdensome, and death among patients with end-stage kidney disease is ""very high,"" particularly from cardiovascular disease, according to Gough.', 'The approval also demonstrates that a blockbuster class of diabetes and weight loss drugs called GLP-1s have significant health benefits beyond regulating blood sugar and suppressing appetite.', 'Ozempic reduced the risk of severe kidney outcomes — including kidney failure, reduction in kidney function, or death from kidney or heart causes — by 24% in diabetic patients with chronic kidney disease compared with a placebo, according to results of a late-stage trial that the approval was based on.', 'In patients who took Ozempic, kidney function declined more slowly, the risk of major cardiovascular events such as heart attack dropped 18% and the risk of death from any cause fell 20% compared with the placebo.', 'Ozempic also cut the risk of cardiovascular-related deaths by 29%.""We know that, unfortunately, cardiovascular disease and chronic kidney disease just go hand in hand,"" Gough said.', 'He added that the major treatments patients typically receive when they have the earliest signs of chronic kidney disease aim to reduce cardiovascular risk factors by paying attention to blood pressure.', 'The rate of serious adverse side effects was 49.6% in patients who took Ozempic, lower than the 53.8% seen in the group that received a placebo.', 'There was a slightly higher rate of discontinuations among Ozempic patients due to gastrointestinal side effects commonly seen with GLP-1s, such as nausea and vomiting.', 'EU regulators approved Ozempic for the same use in December.', 'Novo Nordisk ended the phase three trial in October, a year earlier than expected, in response to positive results.', ""At the time, the Danish company's announcement caused shares of kidney dialysis companies to plummet about 20% in a single day."", 'The trial, called FLOW, started in 2019 and followed roughly 3,500 patients with diabetes and moderate to severe chronic kidney disease.', '""From my point of view as a doctor, you don\'t get [diabetes, obesity, chronic kidney disease and cardiovascular disease] in isolation,"" Gough said. ""', 'These illnesses, unfortunately, co-segregate.', 'They cluster within the same individuals.', ""So if you have a medicine that can target each of these co-morbidities in one injection, then you're addressing what really matters to the patient."", '""The approval comes after the Biden administration selected three of Novo Nordisk\'s drugs with the active ingredient semaglutide for the second cycle of Medicare drug price negotiations.', 'That includes Ozempic, its weight loss counterpart Wegovy and another diabetes treatment called Rybelsus.', ""The FDA's decision also comes as Novo Nordisk faces increased competition from Eli Lilly and tries to win expanded insurance coverage for Wegovy."", 'Last year, Wegovy won approval in the U.S. for use in slashing the risk of major cardiovascular events such as heart attacks and strokes.', 'Novo Nordisk is also studying Wegovy as a potential treatment for fatty liver disease.']",-0.130884842704226,"In this articleThe Food and Drug Administration on Tuesday approved Novo Nordisk's Ozempic to treat chronic kidney disease in patients who also have Type 2 diabetes, expanding the use of the wildly popular injection in the U.S.The drug is already widely used and covered to treat Type 2 diabetes.","The FDA's decision means Ozempic can now be used to reduce the risk of kidney disease worsening, kidney failure, and death from cardiovascular disease in patients with both chronic kidney disease and diabetes.",0.3085689147313435,"Last year, Wegovy won approval in the U.S. for use in slashing the risk of major cardiovascular events such as heart attacks and strokes.","At the time, the Danish company's announcement caused shares of kidney dialysis companies to plummet about 20% in a single day.",2025-02-02
+Here's what Trump’s tariff threats look like on the ground in China,https://www.cnbc.com/2025/01/31/trump-china-tariffs-manufacturers-prepare-for-higher-costs.html,2025-01-31T19:12:00+0000,"As President Donald Trump threatens to impose his first tranche of tariffs on the world Saturday, Chinese manufacturers are bracing for impact.Though Trump is proposing his biggest initial swing at Canada and Mexico with a proposed 25% tariff, the U.S. president still has China on his radar. After a report that the administration could delay at least some of the duties until March 1, the White House said Friday that Trump will follow through on plans to slap 10% tariffs on imports from China on Saturday. On the campaign trail, he threatened tariffs on Chinese-made goods of 60% or more.Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations. Even so, if Trump imposes the levies, they could raise prices for U.S. consumers on everything from furniture to electronics.In China, new duties could damage exporters who rely on the U.S. market. On a recent trip to the manufacturing belt of Guangdong province, CNBC found factory owners preparing for the tariff threat. Here are three main takeaways:Hoping to beat Trump's tariffs, furniture seller Harry Li is doubling the number of products he ships to the U.S. and stockpiling them in warehouses there.He expects the strategy will force him to raise prices as much as 10% -- no matter what Trump's tariffs turn out to be. He sells four out of five of his tables and other large furnishings to American consumers.""I have to ship them in advance and take on more risk,"" he said at his Foshan factory. His company Tianyiled plans to keep the extra inventory in the U.S. until Trump's tariff plan for China becomes clearer.In addition to stockpiling, Li is considering other ways to avoid the border taxes.""One thing we can do is to pick those products not on the tariff list and export them to the U.S. instead,"" he said. In the nearby industrial city of Guangzhou, water purifier maker Zheng Yu is scouring the globe to find a new production base to supply the U.S. outside of China.He plans to set up assembly lines in a third country, buying some equipment and components from China while hiring locally for certain jobs. Zheng's company Tesran is considering Vietnam, Malaysia, and Mexico as manufacturing bases, but is leaning toward Dubai even though costs will be 30% higher than in China.""The domestic market is too competitive. We have been wanting to jump out of it for some time,"" he said. ""Trump's tariffs gave us the final push.""The Tesran founder is also already in touch with his U.S. clients to discuss splitting the tariffs. He is hoping his partners will take on at least half of the cost.All the businesses CNBC spoke to had a breaking point at which it would no longer make sense to sell to the U.S. The tariff thresholds ranged from 20 to 60%, and depended on the industry and the size of a company's margins.Water purifier maker Zheng said another wild card is whether President Trump unleashes proposed universal tariffs that, in his case, would raise costs for Dubai. ""Then the U.S. is out,"" he said.Across Guangzhou, Leng Rong, who makes skin care products, is worried he might have to stop exporting to the U.S. completely.His goods got hit with tariffs north of 20% during Trump's first term and it caused big losses for his company, Keni.With his thin margins, Leng is hoping he can pass the cost of any tariff to his customers.""In the past, we all felt the U.S. market was the greatest market that everyone wanted to sell to. But with all the uncertainties and unfriendly decisions, the U.S. is less attractive now,"" Leng said at his Guangzhou factory. ""It's a real pity.""",CNBC,31/01/2025,"['As President Donald Trump threatens to impose his first tranche of tariffs on the world Saturday, Chinese manufacturers are bracing for impact.', 'Though Trump is proposing his biggest initial swing at Canada and Mexico with a proposed 25% tariff, the U.S. president still has China on his radar.', 'After a report that the administration could delay at least some of the duties until March 1, the White House said Friday that Trump will follow through on plans to slap 10% tariffs on imports from China on Saturday.', 'On the campaign trail, he threatened tariffs on Chinese-made goods of 60% or more.', 'Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations.', 'Even so, if Trump imposes the levies, they could raise prices for U.S. consumers on everything from furniture to electronics.', 'In China, new duties could damage exporters who rely on the U.S. market.', 'On a recent trip to the manufacturing belt of Guangdong province, CNBC found factory owners preparing for the tariff threat.', ""Here are three main takeaways:Hoping to beat Trump's tariffs, furniture seller Harry Li is doubling the number of products he ships to the U.S. and stockpiling them in warehouses there."", ""He expects the strategy will force him to raise prices as much as 10% -- no matter what Trump's tariffs turn out to be."", 'He sells four out of five of his tables and other large furnishings to American consumers.', '""I have to ship them in advance and take on more risk,"" he said at his Foshan factory.', ""His company Tianyiled plans to keep the extra inventory in the U.S. until Trump's tariff plan for China becomes clearer."", 'In addition to stockpiling, Li is considering other ways to avoid the border taxes.', '""One thing we can do is to pick those products not on the tariff list and export them to the U.S.instead,"" he said.', 'In the nearby industrial city of Guangzhou, water purifier maker Zheng Yu is scouring the globe to find a new production base to supply the U.S. outside of China.', 'He plans to set up assembly lines in a third country, buying some equipment and components from China while hiring locally for certain jobs.', ""Zheng's company Tesran is considering Vietnam, Malaysia, and Mexico as manufacturing bases, but is leaning toward Dubai even though costs will be 30% higher than in China."", '""The domestic market is too competitive.', 'We have been wanting to jump out of it for some time,"" he said. ""', ""Trump's tariffs gave us the final push."", '""The Tesran founder is also already in touch with his U.S. clients to discuss splitting the tariffs.', 'He is hoping his partners will take on at least half of the cost.', ""All the businesses CNBC spoke to had a breaking point at which it would no longer make sense to sell to the U.S. The tariff thresholds ranged from 20 to 60%, and depended on the industry and the size of a company's margins."", 'Water purifier maker Zheng said another wild card is whether President Trump unleashes proposed universal tariffs that, in his case, would raise costs for Dubai.', '""Then the U.S. is out,"" he said.', 'Across Guangzhou, Leng Rong, who makes skin care products, is worried he might have to stop exporting to the U.S. completely.', ""His goods got hit with tariffs north of 20% during Trump's first term and it causedbig losses forhis company, Keni."", 'With his thin margins, Leng is hoping he can pass the cost of any tariff to his customers.', '""In the past, we all felt the U.S. market was the greatest market that everyone wanted to sell to.', 'But with all the uncertainties and unfriendly decisions, the U.S. is less attractive now,"" Leng said at his Guangzhou factory. ""', 'It\'s a real pity.""']",-0.0509247328446116,"Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations.","As President Donald Trump threatens to impose his first tranche of tariffs on the world Saturday, Chinese manufacturers are bracing for impact.",-0.3858421146869659,"Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations.","His goods got hit with tariffs north of 20% during Trump's first term and it causedbig losses forhis company, Keni.",2025-02-02
+Boeing is working with Elon Musk to deliver Air Force One replacements sooner,https://www.cnbc.com/2025/01/28/elon-musk-boeing-air-force-one-replacements.html,2025-01-28T18:13:28+0000,"In this articleBoeing is working with Trump advisor Elon Musk on ways to deliver delayed, overbudget Air Force One replacements sooner, CEO Kelly Ortberg said Tuesday.The pair of Boeing 747s that will serve as the next Air Force One aircraft are more than $2 billion over budget and years late, which the company has attributed to design changes, labor constraints and supply chain problems. President Donald Trump struck a deal for the aircraft during his first term, after threatening to ""cancel order!"" before he took office in 2017, complaining about high costs.""We've been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC's Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.It is not clear whether the aircraft will be delivered before Trump's current term is up. An Air Force spokesperson told CNBC that an updated delivery schedule from Boeing is expected in the spring.Trump cut a cake adorned with a model of Air Force One — in a new paint scheme — with a sword at his Jan. 20 inaugural ball.Musk, whose company SpaceX competes with Boeing's space unit, has worked closely with Trump in recent months. The billionaire is also heading Trump's commission that he tasked with reducing government spending.Musk and the White House didn't immediately comment.""The president wants those planes sooner so we're working with Elon to see what can we do to pull up the schedule of those programs,"" Ortberg said.Boeing in the last quarter took $1.7 billion in pretax charges in its defense and space unit, including for the Air Force One program. Ortberg, who became CEO in August, replaced the head of that business in September with an internal, interim leader.",CNBC,28/01/2025,"['In this articleBoeing is working with Trump advisor Elon Musk on ways to deliver delayed, overbudget Air Force One replacements sooner, CEO Kelly Ortberg said Tuesday.', 'The pair of Boeing 747s that will serve as the next Air Force One aircraft are more than $2 billion over budget and years late, which the company has attributed to design changes, labor constraints and supply chain problems.', 'President Donald Trump struck a deal for the aircraft during his first term, after threatening to ""cancel order!""', 'before he took office in 2017, complaining about high costs.', '""We\'ve been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC\'s Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.', ""It is not clear whether the aircraft will be delivered before Trump's current term is up."", 'An Air Force spokesperson told CNBC that an updated delivery schedule from Boeing is expected in the spring.', 'Trump cut a cake adorned with a model of Air Force One — in a new paint scheme — with a sword at his Jan. 20 inaugural ball.', ""Musk, whose company SpaceX competes with Boeing's space unit, has worked closely with Trump in recent months."", ""The billionaire is also heading Trump's commission that he tasked with reducing government spending."", ""Musk and the White House didn't immediately comment."", '""The president wants those planes sooner so we\'re working with Elon to see what can we do to pull up the schedule of those programs,"" Ortberg said.', 'Boeing in the last quarter took $1.7 billion in pretax charges in its defense and space unit, including for the Air Force One program.', 'Ortberg, who became CEO in August, replaced the head of that business in September with an internal, interim leader.']",-0.123036761516436,"""We've been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC's Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.","President Donald Trump struck a deal for the aircraft during his first term, after threatening to ""cancel order!""",0.3317801157633464,"""We've been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC's Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.","The pair of Boeing 747s that will serve as the next Air Force One aircraft are more than $2 billion over budget and years late, which the company has attributed to design changes, labor constraints and supply chain problems.",2025-02-02
+"Comcast stock falls 11% after company underwhelms in broadband, Peacock subscribers",https://www.cnbc.com/2025/01/30/comcast-cmcsa-earnings-q4-2024.html,2025-01-30T21:15:07+0000,"In this articleComcast topped Wall Street's fourth-quarter estimates Thursday despite reporting larger-than-expected broadband subscriber losses and stagnating paid subscribers for its streaming service, Peacock.Wall Street has been particularly focused on cable companies' broadband businesses, which still garner high revenue and earnings but have been in the midst of a customer growth slump due to heightened competition from wireless companies, among other factors.At the same time, streaming has been top of mind for the Street. Although profitability is now considered the key measure of success, investors have taken note of recent subscriber additions by major players since the introduction of cheaper, ad-supported tiers.Comcast reported Thursday that it lost 139,000 residential broadband customers during the fourth quarter, more than the 100,000 losses that Comcast Cable CEO Dave Watson had telegraphed in December during an investor conference.Comcast President Mike Cavanagh on Thursday's investor call said the broadband losses were ""disappointing and worse than what we indicated in early December.""The company also reported Thursday that Peacock had 36 million subscribers during the most recent quarter, up year over year but flat from the prior period. Wall Street had been looking for total paid subscribers of 37.56 million, according to estimates from StreetAccount.Comcast shares fell 11% Thursday.Here is how the company performed for the quarter, compared with average analyst estimates from LSEG: For the quarter ended Dec. 31, net income attributable to Comcast rose roughly 47% to $4.78 billion, or $1.24 per share, compared with $3.26 billion, or 81 cents per share, a year earlier. Adjusting for one-time items, including interest expense and the value of certain assets, Comcast reported earnings per share of 96 cents for the period. Adjusted earnings before interest, taxes, depreciation and amortization was up about 10% to $8.81 billion. In addition to higher broadband revenue, Comcast's overall revenue was up 2% to $31.92 billion, thanks to an increase in segments including its mobile business, the film studio and revenue growth at streaming service Peacock. During the fourth quarter of 2023, Comcast reported revenue of $31.25 billion. Despite the slowdown in cable industry broadband customer growth, the business is a key driver on balance sheets like Comcast's as average revenue per user has risen. Broadband is part of Comcast's Connectivity and Platforms segment, which also includes Xfinity Mobile wireless, which was launched in 2017. The company surpassed 7.8 million mobile lines, and revenue from the unit helped propel overall residential connectivity revenue. Comcast executives Thursday said the company would shift focus to the mobile business in a push to add more lines and further bundle it with broadband. Watson said Thursday the company will ""put the pedal down"" on the mobile effort in the second quarter.Comcast lost 311,000 cable TV customers during the fourth quarter. Meanwhile, revenue for the company's Content and Experiences business, which includes NBCUniversal's TV networks and streaming, the film studio and theme parks, was up 5% to roughly $12.08 billion during the fourth quarter. Revenue for the media segment, which includes the TV networks, was up 3.5% to about $7.22 billion, namely due to higher revenue for Peacock due to an uptick in paid subscribers on the platform from the prior year. Overall domestic advertising for the media segment was flat as ad dollars for Peacock increased but the TV networks saw a smaller haul. The media segment reported $298 million in adjusted EBITDA, falling short of Wall Street expectations of $317.1 million for the quarter, according to StreetAccount estimates. The rest of the businesses in the content and experiences segment beat StreetAccount estimates, including overall adjusted EBITDA.In November, Comcast announced it would spin off its cable network channels, a portfolio that includes CNBC, MSNBC, E!, Syfy, USA, Oxygen and the Golf Channel. The separation, which will also include digital assets such as Fandango and Rotten Tomatoes, is expected to take about a year. The NBC broadcast network, cable channel Bravo and Peacock will remain with Comcast.Peacock has been moving toward profitability in recent quarters. On Thursday, Comcast reported Peacock had $1.3 billion in fourth-quarter revenue and an adjusted EBITDA loss of $372 million, compared with $1 billion in revenue and an adjusted EBITDA loss of $825 million in the same period last year. Peacock's subscriber growth often rises on the back of major live sporting events on the platform. The Summer Olympics in Paris was a key driver in the third quarter, when the platform added 3 million subscribers. Exclusive NFL games have helped pad the streamer's numbers, and the company has touted the addition of the NBA and WNBA next season.Universal Studios' revenue was up 6.7% to $3.27 billion, and the segment's adjusted EBITDA was up 85% to $569 million, boosted by the box office successes of films including ""Kung Fu Panda 4,"" ""Despicable Me 4,"" ""The Wild Robot"" and ""Wicked."" Meanwhile, Theme Parks revenue was flat as lower attendance persisted at domestic locations. Disclosure: Comcast owns NBCUniversal, the parent company of CNBC. NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.",CNBC,30/01/2025,"[""In this articleComcast topped Wall Street's fourth-quarter estimates Thursday despite reporting larger-than-expected broadband subscriber losses and stagnating paid subscribers for its streaming service, Peacock."", ""Wall Street has been particularly focused on cable companies' broadband businesses, which still garner high revenue and earnings but have been in the midst of a customer growth slump due to heightened competition from wireless companies, among other factors."", 'At the same time, streaming has been top of mind for the Street.', 'Although profitability is now considered the key measure of success, investors have taken note of recent subscriber additions by major players since the introduction of cheaper, ad-supported tiers.', 'Comcast reported Thursday that it lost 139,000 residential broadband customers during the fourth quarter, more than the 100,000 losses that Comcast Cable CEO Dave Watson had telegraphed in December during an investor conference.', 'Comcast President Mike Cavanagh on Thursday\'s investor call said the broadband losses were ""disappointing and worse than what we indicated in early December.', '""The company also reported Thursday that Peacock had 36 million subscribers during the most recent quarter, up year over year but flat from the prior period.', 'Wall Street had been looking for total paid subscribers of 37.56 million, according to estimates from StreetAccount.', 'Comcast shares fell 11% Thursday.', 'Here is how the company performed for the quarter, compared with average analyst estimates from LSEG:For the quarter ended Dec. 31, net income attributable to Comcast rose roughly 47% to $4.78 billion, or $1.24 per share, compared with $3.26 billion, or 81 cents per share, a year earlier.', 'Adjusting for one-time items, including interest expense and the value of certain assets, Comcast reported earnings per share of 96 cents for the period.', 'Adjusted earnings before interest, taxes, depreciation and amortization was up about 10% to $8.81 billion.', ""In addition to higher broadband revenue, Comcast's overall revenue was up 2% to $31.92 billion, thanks to an increase in segments including its mobile business, the film studio and revenue growth at streaming service Peacock."", 'During the fourth quarter of 2023, Comcast reported revenue of $31.25 billion.', ""Despite the slowdown in cable industry broadband customer growth, the business is a key driver on balance sheets like Comcast's as average revenue per user has risen."", ""Broadband is part of Comcast's Connectivity and Platforms segment, which also includes Xfinity Mobile wireless, which was launched in 2017."", 'The company surpassed 7.8 million mobile lines, and revenue from the unit helped propel overall residential connectivity revenue.', 'Comcast executives Thursday said the company would shift focus to the mobile business in a push to add more lines and further bundle it with broadband.', 'Watson said Thursday the company will ""put the pedal down"" on the mobile effort in the second quarter.', 'Comcast lost 311,000 cable TV customers during the fourth quarter.', ""Meanwhile, revenue for the company's Content and Experiences business, which includes NBCUniversal's TV networks and streaming, the film studio and theme parks, was up 5% to roughly $12.08 billion during the fourth quarter."", 'Revenue for the media segment, which includes the TV networks, was up 3.5% to about $7.22 billion, namely due to higher revenue for Peacock due to an uptick in paid subscribers on the platform from the prior year.', 'Overall domestic advertising for the media segment was flat as ad dollars for Peacock increased but the TV networks saw a smaller haul.', 'The media segment reported $298 million in adjusted EBITDA, falling short of Wall Street expectations of $317.1 million for the quarter, according to StreetAccount estimates.', 'The rest of the businesses in the content and experiences segment beat StreetAccount estimates, including overall adjusted EBITDA.In November, Comcast announced it would spin off its cable network channels, a portfolio that includes CNBC, MSNBC, E!,', 'Syfy, USA, Oxygen and the Golf Channel.', 'The separation, which will also include digital assets such as Fandango and Rotten Tomatoes, is expected to take about a year.', 'The NBC broadcast network, cable channel Bravo and Peacock will remain with Comcast.', 'Peacock has been moving toward profitability in recent quarters.', 'On Thursday, Comcast reported Peacock had $1.3 billion in fourth-quarter revenue and an adjusted EBITDA loss of $372 million, compared with $1 billion in revenue and an adjusted EBITDA loss of $825 million in the same period last year.', ""Peacock's subscriber growth often rises on the back of major live sporting events on the platform."", 'The Summer Olympics in Paris was a key driver in the third quarter, when the platform added 3 million subscribers.', ""Exclusive NFL games have helped pad the streamer's numbers, and the company has touted the addition of the NBA and WNBA next season."", 'Universal Studios\' revenue was up 6.7% to $3.27 billion, and the segment\'s adjusted EBITDA was up 85% to $569 million, boosted by the box office successes of films including ""Kung Fu Panda 4,"" ""Despicable Me 4,"" ""The Wild Robot"" and ""Wicked.', '""Meanwhile, Theme Parks revenue was flat as lower attendance persisted at domestic locations.', 'Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.', 'NBCUniversal owns NBC Sports and NBC Olympics.', 'NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.']",0.0597997125879288,"Adjusting for one-time items, including interest expense and the value of certain assets, Comcast reported earnings per share of 96 cents for the period.","Comcast President Mike Cavanagh on Thursday's investor call said the broadband losses were ""disappointing and worse than what we indicated in early December.",0.3477487707138061,"Meanwhile, revenue for the company's Content and Experiences business, which includes NBCUniversal's TV networks and streaming, the film studio and theme parks, was up 5% to roughly $12.08 billion during the fourth quarter.","""Meanwhile, Theme Parks revenue was flat as lower attendance persisted at domestic locations.",2025-02-02
+WNBA files trademark application to bring back 'Detroit Shock' as city submits expansion bid,https://www.cnbc.com/2025/01/31/wnba-detroit-team-bid-trademark.html,2025-01-31T17:59:30+0000,"As cities across the country vie for the next Women's National Basketball Association team, the league quietly filed a trademark application this week for the name ""Detroit Shock.""The filing, dated Thursday, notes the intended use is for a basketball team, merchandise, jerseys and in-arena signage that could appear on TV or radio broadcasts. It could offer clues into the league's ultimate decision for the location of a new franchise.On Friday, Detroit Pistons owner Tom Gores submitted a bid for the Motor City to host a new team. The ownership group would be led by Gores and also includes Detroit Lions principal owner and chair Sheila Ford Hamp; former Detroit Pistons stars Grant Hill and Chris Webber; General Motors CEO Mary Barra; and Detroit Lions quarterback Jared Goff.""Detroit is a sports town that loves its teams deeply and consistently shows up with unwavering passion,"" Gores said in a statement.The WNBA and Detroit Pistons did not immediately respond to CNBC's request for comment on the trademark application.The new trademark application by the WNBA is the only submission from the professional women's basketball league since early December, according to Josh Gerben, a trademark attorney at Gerben IP, who is not involved with the specific filing.Unlike other professional sports leagues where individual teams own their own trademark filings, the WNBA holds the rights to all names and logos for the league's franchises, according to Gerben.""Circumstantial evidence would be that [Detroit's] is a winning bid and they're very much planning on getting this going to have filed that trademark application,"" Gerben told CNBC.However, Gerben said the filing could also be a way for the league to protect itself against ""squatters"" or others trying to use the name.Another trademark application was filed for the ""Detroit Shock"" by an individual named Ryan Reed in July 2023, but that trademark has yet to be approved. A person with the same name, purportedly based in Detroit, identifies as the founder of a women's basketball league on LinkedIn.The Detroit Shock were a WNBA team based in Auburn Hills, Michigan, from 1998 to 2009. The team won three WNBA Championships in 2003, 2006 and 2008. In 2009, the franchise moved to Tulsa, Oklahoma, where they played until 2015. Today, they play in Arlington, Texas, as the Dallas Wings.WNBA Commissioner Cathy Engelbert said at the WNBA Finals in October that at least 10 cities had expressed interest in launching an expansion team.""We're not in a huge rush. We'd like to bring it in '27 or no later than '28,"" Engelbert said at the time in regard to adding a 16th team.Cleveland, Kansas City, Philadelphia, St. Louis, Houston, Austin, Nashville and Milwaukee are among the locations seeking to bring women's professional basketball to their cities.",CNBC,31/01/2025,"['As cities across the country vie for the next Women\'s National Basketball Association team, the league quietly filed a trademark application this week for the name ""Detroit Shock.', '""The filing, dated Thursday, notes the intended use is for a basketball team, merchandise, jerseys and in-arena signage that could appear on TV or radio broadcasts.', ""It could offer clues into the league's ultimate decision for the location of a new franchise."", 'On Friday, Detroit Pistons owner Tom Gores submitted a bid for the Motor City to host a new team.', 'The ownership group would be led by Gores and also includes Detroit Lions principal owner and chair Sheila Ford Hamp; former Detroit Pistons stars Grant Hill and Chris Webber; General Motors CEO Mary Barra; and Detroit Lions quarterback Jared Goff.', '""Detroit is a sports town that loves its teams deeply and consistently shows up with unwavering passion,"" Gores said in a statement.', ""The WNBA and Detroit Pistons did not immediately respond to CNBC's request for comment on the trademark application."", ""The new trademark application by the WNBA is the only submission from the professional women's basketball league since early December, according to Josh Gerben, a trademark attorney at Gerben IP, who is not involved with the specific filing."", ""Unlike other professional sports leagues where individual teams own their own trademark filings, the WNBA holds the rights to all names and logos for the league's franchises, according to Gerben."", '""Circumstantial evidence would be that [Detroit\'s] is a winning bid and they\'re very much planning on getting this going to have filed that trademark application,"" Gerben told CNBC.However, Gerben said the filing could also be a way for the league to protect itself against ""squatters"" or others trying to use the name.', 'Another trademark application was filed for the ""Detroit Shock"" by an individual named Ryan Reed in July 2023, but that trademark has yet to be approved.', ""A person with the same name, purportedly based in Detroit, identifies as the founder of a women's basketball league on LinkedIn."", 'The Detroit Shock were a WNBA team based in Auburn Hills, Michigan, from 1998 to 2009.', 'The team won three WNBA Championships in 2003, 2006 and 2008.', 'In 2009, the franchise moved to Tulsa, Oklahoma, where they played until 2015.', 'Today, they play in Arlington, Texas, as the Dallas Wings.', 'WNBA Commissioner Cathy Engelbert said at the WNBA Finals in October that at least 10 cities had expressed interest in launching an expansion team.', '""We\'re not in a huge rush.', 'We\'d like to bring it in \'27 or no later than \'28,"" Engelbert said at the time in regard to adding a 16th team.', ""Cleveland, Kansas City, Philadelphia, St. Louis, Houston, Austin, Nashville and Milwaukee are among the locations seeking to bring women's professional basketball to their cities.""]",0.1643768096009547,"The team won three WNBA Championships in 2003, 2006 and 2008.","As cities across the country vie for the next Women's National Basketball Association team, the league quietly filed a trademark application this week for the name ""Detroit Shock.",0.9991536140441896,"""Circumstantial evidence would be that [Detroit's] is a winning bid and they're very much planning on getting this going to have filed that trademark application,"" Gerben told CNBC.However, Gerben said the filing could also be a way for the league to protect itself against ""squatters"" or others trying to use the name.",,2025-02-02
+67 dead after American Airlines plane collides with Army helicopter,https://www.cnbc.com/2025/01/30/aircraft-down-in-potomic-river-near-dca-airport.html,2025-01-31T15:49:41+0000,"In this articleThere were no survivors after an American Airlines regional jet with 64 people aboard collided with a Black Hawk military helicopter moments before the airplane was set to land at Washington, D.C.'s Ronald Reagan Washington National Airport on Wednesday night, officials said. The accident was the worst air disaster in the U.S. since 2001.Hundreds of first responders have switched to a recovery operation from rescue efforts, District of Columbia Fire and Emergency Medical Services Chief John Donnelly said in a press conference Thursday morning. Donnelly said at least 28 bodies have been recovered so far: 27 from the jet and one from the helicopter.Both aircraft plunged into the icy waters of the Potomac River. First responders including divers worked overnight to try to recover victims, battling choppy, cold waters.Sixty passengers and four crew members were on board the American flight. Three people were on board the military helicopter, an official said.American Eagle Flight 5342, a PSA Airlines Bombardier CRJ700 regional jetliner, was on approach into the airport's Runway 33 when it collided with a Sikorsky H-60 helicopter at around 9 p.m. ET, the FAA said. The flight was arriving from Wichita, Kansas, and flying at an altitude of about 300 feet at the time of the collision, according to FlightRadar24.PSA Airlines is an American Airlines subsidiary and one of its regional carriers. American Eagle is how the airline brands its regional flights.Transportation Secretary Sean Duffy, two days into the job, said the American Airlines jetliner was broken into three sections in the Potomac.The accident hands President Donald Trump a crisis less than two weeks into his new term, as it ends the country's nearly 16-year stretch without a deadly commercial passenger crash.Trump claimed at a White House news conference Thursday that policies promoting diversity, equity and inclusion ""could have been"" to blame for the collision, the deadliest U.S. plane crash since November 2001. He did not provide evidence.Pressed on whether he was getting ahead of the investigation and on how he could connect the collision to DEI, Trump said, ""Because I have common sense, OK?""The National Transportation Safety Board is leading the investigation into Wednesday's accident. The probe will also include the Federal Aviation Administration, American Airlines and other parties.American Airlines CEO Robert Isom said in a memo to staff that the NTSB would be the ""sole source of truth going forward, and accuracy is of the utmost importance.""At a briefing Thursday afternoon, NTSB Chair Jennifer Homendy said the agency would leave no stone unturned in its investigation.Investigators will look at everything from staffing levels at the airport's air traffic control facility to pilot training, maintenance, communications between air traffic controllers and the aircraft involved in the crash, she said.The NTSB said late Thursday that the flight data and cockpit voice recorder from the CRJ-700 have been recovered. The boxes were taken to NTSB labs for evaluation, the agency said.Staffing at Reagan National Airport on Wednesday night wasn't at normal levels for the time of day and the amount of traffic, according to a source familiar with a FAA preliminary incident report. The FAA didn't immediately comment.The person said the tower at the airport normally has one controller who focuses on helicopter traffic, though FAA allows for that position to be combined so one person could watch airplanes and helicopters. That was the case Wednesday night, the source said.""Everyone who flies in American skies expects that we fly safely, that when you depart an airport, you get to your destination,"" Duffy said in a press conference Thursday. ""That didn't happen last night, and I know that President Trump, his administration, the FAA, the DOT, you will not rest until we have answers for the family and for the flying public.""Duffy said he thought the accident was preventable.The FAA does not have a permanent head, which would require Senate confirmation. Former Administrator Mike Whitaker stepped down on Jan. 20, when Trump took office.On Thursday, Trump appointed Chris Rocheleau, a former senior FAA official, as acting head of the FAA.American CEO Isom traveled to Washington, D.C., overnight.""I want to express my sincere condolences for the accident that happened last night. We're absolutely heartbroken for the family members,"" Isom said in a press conference. ""Our focus right now is to support all of those involved and also the PSA airlines team.""He said the American flight was at final approach and ""at this time, we don't know why the military aircraft came into the path of the PSA aircraft.""Isom said the captain of the American Eagle flight had about six years with PSA and the first officer had about two years. The plane was on a ""standard"" approach, he added. ""That's about all I can say.""NBC News reported that one of the soldiers on the helicopter was an instructor pilot lending experience to the crew, which was on an annual training mission.The airline provided contact information for people who ""believe you may have loved ones on board Flight 5342.""American and Russian figure skaters were on board the flight, according to the countries' official groups.Reagan Washington National was closed Wednesday night and reopened late Thursday morning. Officials said airlines would communicate any schedule changes to passengers.The airport says its main runway is the busiest in the country.The U.S. has had a long stretch without fatal commercial passenger airline crashes. The last U.S. commercial passenger airline crash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.The crash of that turboprop plane prompted federal regulations requiring more rest and training for pilots.""We are shocked and saddened by the tragic accident at DCA tonight,"" said the Air Line Pilots Association, a pilot union. ""Our thoughts are with those affected by this tragedy and ALPA's accident investigation team is responding to assist the National Transportation Safety Board in their investigation.""— CNBC's Kevin Breuninger and Phil LeBeau contributed to this report.This story is developing. Please check back for updates.Correction: An American Airlines plane collided with an Army helicopter. This fact had a typographical error in the headline of a previous version.",CNBC,31/01/2025,"[""In this articleThere were no survivors after an American Airlines regional jet with 64 people aboard collided with a Black Hawk military helicopter moments before the airplane was set to land at Washington, D.C.'s Ronald Reagan Washington National Airport on Wednesday night, officials said."", 'The accident was the worst air disaster in the U.S. since 2001.Hundreds of first responders have switched to a recovery operation from rescue efforts, District of Columbia Fire and Emergency Medical Services Chief John Donnelly said in a press conference Thursdaymorning.', 'Donnelly said at least 28 bodies have been recovered so far:27 from the jet and one from the helicopter.', 'Both aircraft plunged into the icy waters of the Potomac River.', 'First responders including divers worked overnight to try to recover victims, battling choppy, cold waters.', 'Sixty passengers and four crew members were on board the American flight.', 'Three people were on board the military helicopter, an official said.', ""American Eagle Flight 5342, a PSA Airlines Bombardier CRJ700 regional jetliner, was on approach into the airport's Runway 33 when it collided with a Sikorsky H-60 helicopter at around 9 p.m. ET, the FAA said."", 'The flight was arriving from Wichita, Kansas, and flying at an altitude of about 300 feet at the time of the collision, according to FlightRadar24.PSAAirlinesis an American Airlines subsidiary and one of its regional carriers.', 'American Eagle is how theairlinebrands its regional flights.', 'Transportation Secretary Sean Duffy, two days into the job, said the American Airlines jetliner was broken into three sections in the Potomac.', ""The accident hands President Donald Trump a crisis less than two weeks into his new term, as it ends the country's nearly 16-year stretch without a deadly commercial passenger crash."", 'Trump claimed at a White House news conference Thursday that policies promoting diversity, equity and inclusion ""could have been"" to blame for the collision, thedeadliest U.S. plane crashsince November 2001.', 'He did not provide evidence.', 'Pressed on whether he was getting ahead of the investigation and on how he could connect the collision to DEI, Trump said, ""Because I have common sense, OK?""The National Transportation Safety Board is leading the investigation into Wednesday\'s accident.', 'The probe will also include the Federal Aviation Administration, American Airlines and other parties.', 'American Airlines CEO Robert Isom said in a memo to staff that the NTSB would be the ""sole source of truth going forward, and accuracy is of the utmost importance.', '""At a briefing Thursday afternoon, NTSB Chair Jennifer Homendy said the agency would leave no stone unturned in its investigation.', ""Investigators will look at everything from staffing levels at the airport's air traffic control facility to pilot training, maintenance, communications between air traffic controllers and the aircraft involved in the crash, she said."", 'The NTSB saidlate Thursday thatthe flight data andcockpit voice recorderfrom the CRJ-700 have been recovered.', 'The boxes were taken to NTSB labs for evaluation, the agency said.', ""Staffing at Reagan National Airport on Wednesday night wasn't at normal levels for the time of day and the amount of traffic, according to a source familiar with a FAA preliminary incident report."", ""The FAA didn't immediately comment."", 'The person said the tower at the airport normally has one controller who focuses on helicopter traffic, though FAA allows for that position to be combined so one person could watch airplanes and helicopters.', 'That was the case Wednesday night, the source said.', '""Everyone who flies in American skies expects that we fly safely, that when you depart an airport, you get to your destination,"" Duffy said in a press conference Thursday. ""', ""That didn't happen last night, and I know that President Trump, his administration, the FAA, the DOT, you will not rest until we have answers for the family and for the flying public."", '""Duffy said he thought the accident was preventable.', 'The FAA does not have a permanent head, which would require Senate confirmation.', 'Former Administrator Mike Whitaker stepped down on Jan. 20, when Trump took office.', 'On Thursday, Trump appointed ChrisRocheleau, a former senior FAA official, as acting head of the FAA.American CEO Isom traveled to Washington, D.C., overnight.', '""I want to express my sincere condolences for the accident that happened last night.', 'We\'re absolutely heartbroken for the family members,"" Isom said in a press conference. ""', 'Our focus right now is to support all of those involved and also the PSAairlinesteam.', '""He said the American flight was at final approach and ""at this time, we don\'t know why the military aircraft came into the path of the PSA aircraft.', '""Isom said the captain of the American Eagle flight had about six years with PSA and the first officer had about two years.', 'The plane was on a ""standard"" approach, he added. ""', ""That's about all I can say."", '""NBC News reported that one of the soldiers on the helicopter was an instructor pilot lending experience to the crew, which was on an annual training mission.', 'The airline provided contact information for people who ""believe you may have loved ones on board Flight 5342.""American and Russian figure skaterswere on board the flight, according to the countries\' official groups.', 'Reagan Washington National was closed Wednesday night and reopened late Thursday morning.', 'Officials said airlines would communicate any schedule changes to passengers.', 'The airport says its main runway is the busiest in the country.', 'The U.S. has had a long stretch without fatal commercial passenger airline crashes.', 'The last U.S. commercial passengerairlinecrash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.', 'The crash of that turboprop plane prompted federal regulations requiring more rest and training for pilots.', '""We are shocked and saddened by the tragic accident at DCA tonight,"" said the Air Line Pilots Association, a pilot union. ""', 'Our thoughts are with those affected by this tragedy and ALPA\'s accident investigation team is responding to assist the National Transportation Safety Board in their investigation.""—', ""CNBC's Kevin Breuninger and Phil LeBeau contributed to this report."", 'This story is developing.', 'Please check back for updates.', 'Correction: An American Airlines plane collided with an Army helicopter.', 'This fact had a typographical error in the headline of a previous version.']",-0.1126995504155695,"The airline provided contact information for people who ""believe you may have loved ones on board Flight 5342.""American and Russian figure skaterswere on board the flight, according to the countries' official groups.","The accident was the worst air disaster in the U.S. since 2001.Hundreds of first responders have switched to a recovery operation from rescue efforts, District of Columbia Fire and Emergency Medical Services Chief John Donnelly said in a press conference Thursdaymorning.",-0.7085793018341064,,"""We are shocked and saddened by the tragic accident at DCA tonight,"" said the Air Line Pilots Association, a pilot union. """,2025-02-02
+Elon Musk's X begins its push into financial services with Visa deal,https://www.cnbc.com/2025/01/28/elon-musk-x-visa-digital-wallet.html,2025-01-28T19:07:10+0000,"In this articleElon Musk's social media platform X on Tuesday announced the launch of a digital wallet and peer-to-peer payments services provided by Visa.X struck a deal with Visa, the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account, CEO Linda Yaccarino announced in a post on the platform.Visa will enable X users to move funds between traditional bank accounts and their digital wallet and make instant peer-to-peer payments, Yaccarino said, like with Zelle or Venmo.It's the first concrete move from X to create a financial ecosystem for the social media site, which was called Twitter before Musk purchased it in 2022. At the time, Musk, who's also CEO of Tesla, said the $44 billion acquisition was a way to create an ""everything app."" He later said the platform would enable users to conduct their ""entire financial world"" on it.In 2021 while Jack Dorsey was at the helm of Twitter, the company launched a bitcoin tipping feature that allowed users to add their crypto wallet addresses and receive payments in the world's largest digital token.But attaining status as a money service business in the U.S. required navigating a far more complex regulatory landscape.For over a year, Musk has been applying for these licenses for X. According to its website, X Payments LLC is licensed in 41 states and registered with the Financial Crimes Enforcement Network, or FinCEN.The X Money service is expected to launch in the first quarter, and deals with more financial partners are likely, according to a person with knowledge of the situation.One of the first use cases for X Money is to allow creators on the site to accept payments and store funds without external institutions, said this person, who spoke on the condition of anonymity to discuss internal matters.In November 2022, Musk suggested to the platform's advertisers in a meeting publicly broadcast on Spaces that its coming payments product might ultimately offer certain banking features, such as a high-yield money market account.Representatives of Visa declined to comment on the matter.",CNBC,28/01/2025,"[""In this articleElon Musk'ssocial media platform X on Tuesday announced the launch of a digital wallet and peer-to-peer payments services provided by Visa."", 'X struck a deal with Visa, the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account, CEO Linda Yaccarino announced in a post on the platform.', 'Visa will enable X users to move funds between traditional bank accounts and their digital wallet and make instant peer-to-peer payments, Yaccarino said, like with Zelle or Venmo.', ""It's the first concrete move from X to create a financial ecosystem for the social media site, which was called Twitter before Musk purchased it in 2022."", 'At the time, Musk, who\'s also CEO of Tesla, said the $44 billion acquisition was a way to create an ""everything app.""', 'He later said the platform would enable users to conduct their ""entire financial world"" on it.', ""In 2021 while Jack Dorsey was at the helm of Twitter, the company launched a bitcoin tipping feature that allowed users to add their crypto wallet addresses and receive payments in the world's largest digital token."", 'But attaining status as a money service business in the U.S. required navigating a far more complex regulatory landscape.', 'For over a year, Musk has been applying for these licenses for X. According to its website, X Payments LLC is licensed in 41 states and registered with the Financial Crimes Enforcement Network, or FinCEN.The X Money service is expected to launch in the first quarter, and deals with more financial partners are likely, according to a person with knowledge of the situation.', 'One of the first use cases for X Money is to allow creators on the site to accept payments and store funds without external institutions, said this person, who spoke on the condition of anonymity to discuss internal matters.', ""In November 2022, Musk suggested to the platform's advertisers in a meeting publicly broadcast on Spaces that its coming payments product might ultimately offer certain banking features, such as a high-yield money market account."", 'Representatives of Visa declined to comment on the matter.']",0.1704256576963926,"One of the first use cases for X Money is to allow creators on the site to accept payments and store funds without external institutions, said this person, who spoke on the condition of anonymity to discuss internal matters.",,0.999309778213501,"X struck a deal with Visa, the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account, CEO Linda Yaccarino announced in a post on the platform.",,2025-02-02
+Deadly American Airlines-helicopter collision highlights concerns with crowded U.S. airspace,https://www.cnbc.com/2025/01/30/american-airlines-plane-crash-military-helicopter-airspace.html,2025-01-31T14:22:05+0000,"In this articleAs rescuers continued retrieving bodies out of the frigid Potomac River on Thursday, the deadliest commercial air disaster in the U.S. since 2001 is bringing long-brewing concerns over congested U.S. airspace into a full-blown crisis.Just before 9 p.m. ET on Wednesday, an American Airlines regional jet collided with a military helicopter near Washington, D.C.'s Reagan National Airport. There were no survivors on either the Bombardier CRJ700 regional jet, which carried 60 passengers and four crew members, or on the Army Black Hawk helicopter, which was carrying three people, officials said.A series of close calls at airports in recent years has raised alarms among airlines, regulators and lawmakers. It is not immediately clear what led to the deadly collision on Wednesday. A full investigation could take months, if not longer than a year. Officials on Thursday did not blame air traffic control for the deadly crash.In one of the recent incidents that raised concerns, a JetBlue Airways plane starting its takeoff roll at Reagan National Airport in April came within a few hundred feet of a Southwest Airlines flight, which was told to cross the runway.Despite those close calls, there has not been a major fatal commercial airplane crash on U.S. soil since February 2009. Wednesday's crash was the deadliest since November 2001.""The system is as safe as it has ever been,"" Southwest Airlines CEO Bob Jordan said in an interview with CNBC's ""Squawk on the Street"" on Thursday morning.Airline executives have pushed consecutive administrations to modernize air traffic control and hire more staffers to help alleviate congestion in some of the busiest corridors in the U.S. Ronald Reagan Washington National Airport's main runway is the busiest in the U.S., according to the area's airport authority.""The system has been in need of modernization for literally decades now,"" Jordan said. ""You've got equipment that goes back to the 1960s, and modernizing the equipment actually allows for better management of the airspace, more throughput, so more efficiency.""",CNBC,31/01/2025,"['In this articleAs rescuers continued retrieving bodies out of the frigid Potomac River on Thursday, the deadliest commercial air disaster in the U.S. since 2001 is bringing long-brewing concerns over congested U.S. airspace into a full-blown crisis.', ""Just before 9 p.m. ET on Wednesday, an American Airlines regional jet collided with a military helicopter near Washington, D.C.'s Reagan National Airport."", 'There were no survivors on either the Bombardier CRJ700 regional jet, which carried 60 passengers and four crew members, or on the Army Black Hawk helicopter, which was carrying three people, officials said.', 'A series of close calls at airports in recent years has raised alarms among airlines, regulators and lawmakers.', 'It is not immediately clear what led to the deadly collision on Wednesday.', 'A full investigation could take months, if not longer than a year.', 'Officials on Thursday did not blame air traffic control for the deadly crash.', 'In one of the recent incidents that raised concerns, a JetBlue Airways plane starting its takeoff roll at Reagan National Airport in April came within a few hundred feet of a Southwest Airlines flight, which was told to cross the runway.', 'Despite those close calls, there has not been a major fatal commercial airplane crash on U.S. soil since February 2009.', 'Wednesday\'s crash was the deadliest since November 2001.""The system is as safe as it has ever been,"" Southwest Airlines CEO Bob Jordan said in an interview with CNBC\'s ""Squawk on the Street"" on Thursday morning.', ""Airline executives have pushed consecutive administrations to modernize air traffic control and hire more staffers to help alleviate congestion in some of the busiest corridors in the U.S. Ronald Reagan Washington National Airport's main runway is the busiest in the U.S., according to the area's airport authority."", '""The system has been in need of modernization for literally decades now,"" Jordan said. ""', 'You\'ve got equipment that goes back to the 1960s, and modernizing the equipment actually allows for better management of the airspace, more throughput, so more efficiency.""']",-0.1262463838850265,"You've got equipment that goes back to the 1960s, and modernizing the equipment actually allows for better management of the airspace, more throughput, so more efficiency.""","In this articleAs rescuers continued retrieving bodies out of the frigid Potomac River on Thursday, the deadliest commercial air disaster in the U.S. since 2001 is bringing long-brewing concerns over congested U.S. airspace into a full-blown crisis.",0.0391943554083506,"Airline executives have pushed consecutive administrations to modernize air traffic control and hire more staffers to help alleviate congestion in some of the busiest corridors in the U.S. Ronald Reagan Washington National Airport's main runway is the busiest in the U.S., according to the area's airport authority.","A series of close calls at airports in recent years has raised alarms among airlines, regulators and lawmakers.",2025-02-02
+Pending home sales drop sharply in December as mortgage rates surge back over 7%,https://www.cnbc.com/2025/01/30/december-pending-home-sales-drop-as-mortgage-rates-surge.html,2025-01-30T17:42:21+0000,"Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors.The drop followed four straight months of gains and the index was at its lowest level since August.These so-called pending sales are an indicator of future closings and are the most current indicator of activity in the market. Buyers out shopping in December were facing a big jump in mortgage interest rates, which may have dampened demand.The average rate on the 30-year fixed mortgage went from a low of 6.68% on Dec. 6 to a high of 7.14% on Dec. 19. Realtors had been saying that buyers were getting used to a ""new normal"" of higher interest rates, but the 7% mark appears to be an emotional barrier for buyers.Sales of newly built homes, which are also based on signed contracts, saw gains in December, according to the U.S. Census, but homebuilders have been aggressively buying down mortgage rates to get customers in the door.Pending sales fell in all regions, with the West and Northeast seeing the biggest monthly drops at decreases of 8.1% and 10.3%, respectively. Those regions are where home prices are highest.""Contract activity fell more sharply in the high-priced regions of the Northeast and West, where elevated mortgage rates have appreciably cut affordability,"" said Lawrence Yun, chief economist for the National Association of Realtors. ""Job gains tend to have greater impact in more affordable regions. It is unclear if heavier-than-usual winter precipitation impacted the timing of purchases.""Prices are still stubbornly high and rising across the nation. Annual gains accelerated in late fall and early winter, according to the latest read from the S&P Case-Shiller national home price index.Homebuying demand does not appear to be bouncing back at all in January. Mortgage applications to purchase a home last week were 7% lower than they were the same week one year ago, according to the Mortgage Bankers Association.Homes are also selling at the slowest rate in five years, according to a new report from Redfin. As of the four weeks ending Jan. 26, the typical home listing that went under contract sat on the market for 54 days before the seller accepted an offer, the longest span since March 2020 and a week longer than this time last year.The weakness comes as the supply of homes for sale is finally rising significantly. The number of newly listed homes jumped just over 37% in January compared with December, according to Realtor.com.""The shift in seller activity could mark a turning point in the high mortgage rate-induced standoff between buyers and sellers,"" said Danielle Hale, chief economist at Realtor.com. ""The uptick is likely due to some residual benefit from fall's lower mortgage rates, which could fade.""",CNBC,30/01/2025,"['Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors.', 'The drop followed four straight months of gains and the index was at its lowest level since August.', 'These so-called pending sales are an indicator of future closings and are the most current indicator of activity in the market.', 'Buyers out shopping in December were facing a big jump in mortgage interest rates, which may have dampened demand.', 'The average rate on the 30-year fixed mortgage went from a low of 6.68% on Dec. 6 to a high of 7.14% on Dec. 19.', 'Realtors had been saying that buyers were getting used to a ""new normal"" of higher interest rates, but the 7% mark appears to be an emotional barrier for buyers.', 'Sales of newly built homes, which are also based on signed contracts, saw gains in December, according to the U.S. Census, but homebuilders have been aggressively buying down mortgage rates to get customers in the door.', 'Pending sales fell in all regions, with the West and Northeast seeing the biggest monthly drops at decreases of 8.1% and 10.3%, respectively.', 'Those regions are where home prices are highest.', '""Contract activity fell more sharply in the high-priced regions of the Northeast and West, where elevated mortgage rates have appreciably cut affordability,"" said Lawrence Yun, chief economist for the National Association of Realtors. ""', 'Job gains tend to have greater impact in more affordable regions.', 'It is unclear if heavier-than-usual winter precipitation impacted the timing of purchases.', '""Prices are still stubbornly high and rising across the nation.', 'Annual gains accelerated in late fall and early winter, according to the latest read from the S&P Case-Shiller national home price index.', 'Homebuying demand does not appear to be bouncing back at all in January.', 'Mortgage applications to purchase a home last week were 7% lower than they were the same week one year ago, according to the Mortgage Bankers Association.', 'Homes are also selling at the slowest rate in five years, according to a new report from Redfin.', 'As of the four weeks ending Jan. 26, the typical home listing that went under contract sat on the market for 54 days before the seller accepted an offer, the longest span since March 2020 and a week longer than this time last year.', 'The weakness comes as the supply of homes for sale is finally rising significantly.', 'The number of newly listed homes jumped just over 37% in January compared with December, according to Realtor.com.', '""The shift in seller activity could mark a turning point in the high mortgage rate-induced standoff between buyers and sellers,"" said Danielle Hale, chief economist at Realtor.com.', '""The uptick is likely due to some residual benefit from fall\'s lower mortgage rates, which could fade.""']",0.0039132363294904,Job gains tend to have greater impact in more affordable regions.,The weakness comes as the supply of homes for sale is finally rising significantly.,-0.2283051766847309,"Annual gains accelerated in late fall and early winter, according to the latest read from the S&P Case-Shiller national home price index.","Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors.",2025-02-02
+"Billionaire family offices kick off 2025 with investments in AI, health care",https://www.cnbc.com/2025/01/31/family-office-investing-january-arnault-laurene-powell-jobs-premji.html,2025-01-31T15:37:39+0000,"A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Europe's richest person, Bernard Arnault, built his fortune on designer handbags and Champagne. His latest bet: security guards.",CNBC,31/01/2025,"[""A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer."", 'Sign upto receive future editions, straight to your inbox.', ""Europe's richest person, Bernard Arnault, built his fortune on designer handbags and Champagne."", 'His latest bet: security guards.']",0.4680034651153835,"Europe's richest person, Bernard Arnault, built his fortune on designer handbags and Champagne.",,,,,2025-02-02
+Levi beats earnings estimates but expects pressure this year from strong U.S. dollar,https://www.cnbc.com/2025/01/29/levi-strauss-levi-earnings-q4-2024.html,2025-01-29T22:04:22+0000,"In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses. The company said it expects sales to decline between 1% and 2%, well behind estimates of 3.7% growth, according to LSEG. It also anticipates adjusted earnings per share will be between $1.20 and $1.25, below estimates of $1.37, according to LSEG. Shares fell about 6% in extended trading.CEO Michelle Gass told CNBC the expected drop in revenue in the current fiscal year does not reflect slower demand, but is more due to the currency trends, one fewer fiscal week and the divested businesses.Levi ended fiscal 2024 on a high note and reported earnings and sales that both topped expectations. Here is how the apparel company fared during its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Dec. 1 was $182.6 million, or 46 cents per share, compared with $126.8 million, or 32 cents per share, a year earlier. Excluding one-time expenses related to impairments, restructurings, acquisitions and leases, among other items, Levi reported adjusted net income of $202 million, or 50 cents per share, compared with adjusted profits of $179 million, or 44 cents per share, a year earlier. Sales rose to $1.84 billion, up about 12% from $1.64 billion a year earlier. Organic sales, which exclude an extra 53rd week Levi had during the quarter, along with foreign exchange effects and divested businesses, grew 8%. Since Gass took the helm of Levi a year ago, she has moved swiftly to cut aspects of the business that weren't working, grow higher margin sales on its website and stores, boost profitability and bring more female customers to the brand. Under her leadership, Levi inked a high-profile marketing partnership with Beyonce in September after she released a song about the brand on her album ""Cowboy Carter"" earlier in the year. ""Of course, we have to acknowledge the Beyonce effect. We are very pleased with the launch of that campaign, which we're seeing drive demand across the business,"" Gass said in an interview with CNBC.Gass has been working to bring more women to Levi, which traditionally has drawn more men, because women tend to spend more money and shop for new clothes more often. Women's apparel is now about 36% of Levi's overall business, up slightly from a year ago, but Gass said it should represent about half over time.The company has won female shoppers over not only with loose and wide-legged denim fits, but also with a wide range of new tops such as woven shirts and blouses. During the quarter, Levi saw strong sales increases across all of its regions, brands and channels. Sales in the Americas grew 12%, Europe increased 15% and Asia expanded 9%. Sales for its Beyond Yoga brand spiked 10%. Direct-to-consumer sales increased 19% and made up 45% of total organic net sales, which includes the extra selling week, currency fluctuations and the divested businesses. Wholesale revenues, which have been soft across the industry, grew 7% during the quarter. Since President Donald Trump was elected for a second term, all eyes have been on the retail industry to see what kind of effect his proposed tariffs could have on consumer prices and company profits. Levi's finance chief Harmit Singh said the company sources its products from 25 countries and less than 1% of it comes from China, which Trump has threatened with 10% tariffs. In Canada and Mexico, where Trump has suggested duties as high as 25%, Levi's exposure is minimal, as it only imports about 5% of products from Mexico and nothing from Canada. When asked if the company will raise prices if broad-based tariffs are implemented, Singh said it plans to work with its suppliers and look at its own costs so it can spare consumers as much as possible. The ""first objective would be to minimize the impact on the consumer. So we work internally with our suppliers, we look at our cost base, we look at other pricing opportunities and if we cannot cover it, obviously we got to protect the structural economics of the business,"" said Singh. ""At that point, we'll decide, you know, what should be passed on to the consumer or not, but we won't start from that. That's where we will end.""During the quarter, Levi posted what it called a record gross margin of 61.3%, up from 57.8% in the year-ago period, driven by lower product costs, higher full price sales and a better mix between direct and wholesale revenue. Still, Levi reported $111.4 million in impairment charges related to its Beyond Yoga brand for fiscal 2024, on top of the $90.2 million it reported in fiscal 2023, bringing those costs to $201.6 million in the years since it acquired the athleisure company in 2021 for $400 million. The brand and yoga category overall is growing, but Singh said Levi was potentially a bit ""aggressive"" in its expectations ""of how quickly the brand could grow."" The good news, he said, is Beyond Yoga is now led by Nancy Green, the former CEO of Gap's Athleta, who is credited with scaling the athleisure brand into a billion-dollar business. ""It's a category that's growing big time. I know there are other competitors, but we feel good about the management team and good about the potential growth for the business,"" said Singh.",CNBC,29/01/2025,"['In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses.', 'The company said it expects sales to decline between 1% and 2%, well behind estimates of 3.7% growth, according to LSEG.It also anticipates adjusted earnings per share will be between $1.20 and $1.25, below estimates of $1.37, according to LSEG.Shares fell about 6% in extended trading.', 'CEO Michelle Gass told CNBC the expected drop in revenue in the current fiscal year does not reflect slower demand, but is more due to the currency trends, one fewer fiscal week and the divested businesses.', 'Levi ended fiscal 2024 on a high note and reported earnings and sales that both topped expectations.', ""Here is how the apparel company fared during its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Dec. 1 was $182.6 million, or 46 cents per share, compared with $126.8 million, or 32 cents per share, a year earlier."", 'Excluding one-time expenses related to impairments, restructurings, acquisitions and leases, among other items, Levi reported adjusted net income of $202 million, or 50 cents per share, compared with adjusted profits of $179 million, or 44 cents per share, a year earlier.', 'Sales rose to $1.84 billion, up about 12% from $1.64 billion a year earlier.', ""Organic sales, which exclude an extra 53rd week Levi had during the quarter, along with foreign exchange effects and divested businesses, grew 8%.Since Gass took the helm of Levi a year ago, she has moved swiftly to cut aspects of the business that weren't working, grow higher margin sales on its website and stores, boost profitability and bring more female customers to the brand."", 'Under her leadership, Levi inked a high-profile marketing partnership with Beyonce in September after she released a song about the brand on her album ""Cowboy Carter"" earlier in the year.', '""Of course, we have to acknowledge the Beyonce effect.', 'We are very pleased with the launch of that campaign, which we\'re seeing drive demand across the business,"" Gass said in an interview with CNBC.Gass has been working to bring more women to Levi, which traditionally has drawn more men, because women tend to spend more money and shop for new clothes more often.', ""Women's apparel is now about 36% of Levi's overall business, up slightly from a year ago, but Gass said it should represent about half over time."", 'The company has won female shoppers over not only with loose and wide-legged denim fits, but also with a wide range of new tops such as woven shirts and blouses.', 'During the quarter, Levi saw strong sales increases across all of its regions, brands and channels.', 'Sales in the Americas grew 12%, Europe increased 15% and Asia expanded 9%.', 'Sales for its Beyond Yoga brand spiked 10%.', 'Direct-to-consumer sales increased 19% and made up 45% of total organic net sales, which includes the extra selling week, currency fluctuations and the divested businesses.', 'Wholesale revenues, which have been soft across the industry, grew 7% during the quarter.', 'Since President Donald Trump was elected for a second term, all eyes have been on the retail industry to see what kind of effect his proposed tariffs could have on consumer prices and company profits.', ""Levi's finance chief Harmit Singh said the company sources its products from 25 countries and less than 1% of it comes from China, which Trump has threatened with 10% tariffs."", ""In Canada and Mexico, where Trump has suggested duties as high as 25%, Levi's exposure is minimal, as it only imports about 5% of products from Mexico and nothing from Canada."", 'When asked if the company will raise prices if broad-based tariffs are implemented, Singh said it plans to work with its suppliers and look at its own costs so it can spare consumers as much as possible.', 'The ""first objective would be to minimize the impact on the consumer.', 'So we work internally with our suppliers, we look at our cost base, we look at other pricing opportunities and if we cannot cover it, obviously we got to protect the structural economics of the business,"" said Singh. ""', ""At that point, we'll decide, you know, what should be passed on to the consumer or not, but we won't start from that."", ""That's where we will end."", '""During the quarter, Levi posted what it called a record gross margin of 61.3%, up from 57.8% in the year-ago period, driven by lower product costs, higher full price sales and a better mix between direct and wholesale revenue.', 'Still, Levi reported $111.4 million in impairment charges related to its Beyond Yoga brand for fiscal 2024, on top of the $90.2 million it reported in fiscal 2023, bringing those costs to $201.6 million in the years since it acquired the athleisure company in 2021 for $400 million.', 'The brand and yoga category overall is growing, but Singh said Levi was potentially a bit ""aggressive"" in its expectations ""of how quickly the brand could grow.', '""The good news, he said, is Beyond Yoga is now led by Nancy Green, the former CEO of Gap\'s Athleta, who is credited with scaling the athleisure brand into a billion-dollar business.', '""It\'s a category that\'s growing big time.', 'I know there are other competitors, but we feel good about the management team and good about the potential growth for the business,"" said Singh.']",0.1865124968863482,"I know there are other competitors, but we feel good about the management team and good about the potential growth for the business,"" said Singh.","In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses.",0.6506836305965077,"Organic sales, which exclude an extra 53rd week Levi had during the quarter, along with foreign exchange effects and divested businesses, grew 8%.Since Gass took the helm of Levi a year ago, she has moved swiftly to cut aspects of the business that weren't working, grow higher margin sales on its website and stores, boost profitability and bring more female customers to the brand.","In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses.",2025-02-02
+GM stock falls even as company beats analyst expectations on earnings,https://www.cnbc.com/2025/01/28/general-motors-gm-earnings-q4-2024.html,2025-01-28T21:05:29+0000,"In this articleDETROIT — General Motors stock fell more than 8% in trading Tuesday even as the company beat Wall Street's top- and bottom-line expectations for the fourth quarter, while forecasting continued strong results for 2025.Concerns of Wall Street analysts on the company's quarterly earnings call focused on the automaker's preparation for changes under the Trump administration, including the impacts of potential tariffs on vehicle production and policy changes on electric vehicle sales and pricing, signaling an overhang on the auto industry.Wall Street analysts have said there's a lack of enthusiasm by investors for the U.S. automotive industry amid a slowdown in electric vehicles and autonomous vehicles, as well as regulatory volatility.The Detroit automaker believes it can have another solid year despite industry sales slowing, a restructuring of its operations in China, and increased geopolitical and regulatory uncertainty in the U.S. as President Donald Trump begins his second term. GM's 2025 guidance includes net income attributable to stockholders of $11.2 billion to $12.5 billion, or $11 to $12 in earnings per share; adjusted earnings before interest and taxes (EBIT) of $13.7 billion to $15.7 billion, or $11 to $12 adjusted EPS; and adjusted automotive free cash flow between $11 billion and $13 billion.""In our view, the guidance for 2025 leaves no room for errors, and also does not include impact from regulatory changes in the U.S., especially on tariffs and BEV support,"" analysts at Bernstein said in a note.GM's 2025 financial guidance met or exceeded many forecasts from Wall Street analysts. Most notably, analysts were expecting adjusted earnings of around $14 billion.That compares with the automaker's 2024 results of adjusted EBIT of $14.9 billion, or $10.60 adjusted EPS, and net income attributable to stockholders of $6 billion, or $6.37 EPS. The adjusted figures and the $14 billion in adjusted auto free cash flow were records for the automaker, GM said. GM CFO Paul Jacobson said the company's 2025 guidance does not take into account any potential regulatory changes such as tariffs on vehicle imports or tax reform.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:GM's $47.7 billion in revenue in the fourth quarter was up 11% from the same period last year.Jacobson said the company's 2024 performance was ""outstanding,"" citing growth in its EV and traditional internal combustion engine businesses. GM lost $2.96 billion, or $1.64 per share, in the fourth quarter, which ended Dec. 31, compared with earnings of $2.1 billion, or $1.59 per share, in the same period a year earlier.GM's quarterly results include $5 billion in special charges such as $4 billion in noncash restructuring charges related to its operations in China and $500 million in charges related to the decision to stop funding its Cruise robotaxi business. Excluding those charges and other items, GM earned $1.92 per share in the fourth quarter.GM CEO Mary Barra said during the company's investor call that it has a proposed restructuring plan to refocus its autonomous driving business on personal vehicles and expects annual run rate savings of about $1 billion from shutting down robotaxi development.GM's $6 billion in net income attributable to stockholders for the full year 2024 was down 40.7% from 2023.GM last month said it expected a restructuring of its joint venture operations with SAIC Motor Corp. in China to cost more than $5 billion in noncash charges and write-downs, most of which occurred during the fourth quarter.GM's revenue last year increased to $187.44 billion, up 9.1% from 2023.GM's North American operations continued their yearslong trend of carrying the automaker's earnings. Its North American adjusted earnings increased 18.1% compared with 2023 to $14.53 billion, which equates to a 9.2% adjusted profit margin.The Detroit automaker's international operations — such as South Korea, Brazil and the Middle East — reported adjusted earnings of $303 million last year, down by 75% compared with 2023. Its equity income from China was a loss of $4.41 billion, largely due to the restructuring actions.""In China, we reported positive equity income for the fourth quarter before restructuring costs, and we're taking steps with our partner to improve from there,"" GM CEO Mary Barra said in a letter to shareholders.Jacobson reiterated that the company expects to restructure the operations without injecting more capital from the U.S. into China.Aside from its financial results, GM said it expects to continue rolling out new products to assist its sales and earnings. That includes electric vehicles, which the company said reached a targeted profitability on a production basis during the fourth quarter.GM expects a $2 billion to $4 billion improvement this year compared with 2024, based on wholesale volumes of about 300,000 EVs. That would be a roughly 59% increase from the 189,000 units in 2024 — slightly below a previously announced target of 200,000 EVs, as the automaker attempted to lower its days' supply toward the end of the year.""We do think that we can grow our EV demand,"" Jacobson said. ""We're going to continue to see how EV adoption progresses in 2025, but the 300,000 is the assumption that we base on being at the low end of the $2 billion to $4 billion of profit improvement.""GM said it's expecting improvements on scale, fixed cost absorption, and a continued focus on cell and vehicle cost reductions to drive improved earnings for EVs next year.Additionally in 2025, Jacobson said GM will continue to look for opportunities to return value to shareholders as well as pay down the company's automotive debt, including $1.75 billion that matures this year. He said the company early retired $750 million in debt in December in addition to completing stock repurchases to lower its outstanding share count to below 1 billion to end the year.For the entire U.S. industry, Jacobson said GM expects new vehicle sales to be relatively level this year compared with last at more than 16 million vehicles. The Detroit automaker expects vehicle pricing, which has come down from record highs of recent years, to decline between 1% and 1.5%.Barra, in her shareholder letter, noted the current ""uncertainty over trade, tax, and environmental regulations"" could impact the automaker's business.She said the company has been ""proactive with Congress and the administration"" about the importance of U.S. manufacturing and ""American leadership in advanced technologies.""""It's clear that we share a lot of common ground, and we appreciate the dialogue,"" said Barra, who spoke with Trump before his inauguration. ""Whatever happens on these fronts, we have a broad and deep portfolio of [internal combustion engine] vehicles and EVs that are both growing market share, and we'll be agile and execute as efficiently as possible.""GM previously told CNBC that Barra's conversation with Trump was ""friendly and productive.""Trump has discussed implementing a 25% tariff on goods from Canada and Mexico, which could affect vehicles that are imported to the U.S.Most major automakers have factories in the U.S. However, they still heavily rely on imports from other countries, including Mexico, to meet American consumer demand.",CNBC,28/01/2025,"[""In this articleDETROIT — General Motors stock fell more than 8% in trading Tuesday even as the company beat Wall Street's top- and bottom-line expectations for the fourth quarter, while forecasting continued strong results for 2025.Concerns of Wall Street analysts on the company's quarterly earnings callfocused on the automaker's preparation for changes under the Trump administration, including the impacts of potential tariffs on vehicle production and policy changes on electric vehicle sales and pricing, signaling an overhang on the auto industry."", ""Wall Street analysts have said there's a lack of enthusiasm by investors for the U.S. automotive industry amid a slowdown in electric vehicles andautonomous vehicles,as well asregulatory volatility."", 'The Detroit automaker believes it can have another solid year despite industry sales slowing, a restructuring of its operations in China, and increased geopolitical and regulatory uncertainty in the U.S. as President Donald Trump begins his second term.', ""GM's 2025 guidance includes net income attributable to stockholders of $11.2 billion to $12.5 billion, or $11 to $12 in earnings per share; adjusted earnings before interest and taxes (EBIT) of $13.7 billion to $15.7 billion, or $11 to $12 adjusted EPS; and adjusted automotive free cash flow between $11 billion and $13 billion."", '""In our view, the guidance for 2025 leaves no room for errors, and also does not include impact from regulatory changes in the U.S., especially on tariffs and BEV support,"" analysts at Bernstein said in a note.', ""GM's 2025 financial guidance met or exceeded many forecasts from Wall Street analysts."", 'Most notably, analysts were expecting adjusted earnings of around $14 billion.', ""That compares with the automaker's 2024 results of adjusted EBIT of $14.9 billion, or $10.60 adjusted EPS, and net income attributable to stockholders of $6 billion, or $6.37 EPS."", 'The adjusted figures and the $14 billion in adjusted auto free cash flow were records for the automaker, GM said.', ""GM CFO Paul Jacobson said the company's 2025 guidance does not take into account any potential regulatory changes such as tariffs on vehicle imports or tax reform."", ""Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:GM's $47.7 billion in revenue in the fourth quarter was up 11% from the same period last year."", 'Jacobson said the company\'s 2024 performance was ""outstanding,"" citing growth in its EV and traditional internal combustion engine businesses.', 'GM lost $2.96 billion, or $1.64 per share, in the fourth quarter, which ended Dec. 31, compared with earnings of $2.1 billion, or $1.59 per share, in the same period a year earlier.', ""GM's quarterly results include $5 billion in special charges such as$4 billionin noncash restructuring charges related to its operations in China and $500 million in charges related to the decision to stop funding its Cruise robotaxi business."", 'Excluding those charges and other items, GM earned $1.92 per share in the fourth quarter.', ""GM CEO Mary Barra said during the company's investor call that it has a proposed restructuring plan to refocus its autonomous driving business on personal vehicles and expects annual run rate savings of about $1 billion from shutting down robotaxi development."", ""GM's $6 billion in net income attributable to stockholders for the full year 2024 was down 40.7% from 2023.GM last month said it expected a restructuring of its joint venture operations with SAIC Motor Corp. in China to cost more than $5 billion in noncash charges and write-downs, most of which occurred during the fourth quarter."", ""GM's revenue last year increased to $187.44 billion, up 9.1% from 2023.GM's North American operations continued their yearslong trend of carrying the automaker's earnings."", 'Its North American adjusted earnings increased 18.1% compared with 2023 to $14.53 billion, which equates to a 9.2% adjusted profit margin.', ""The Detroit automaker's international operations — such as South Korea, Brazil and the Middle East — reported adjusted earnings of $303 million last year, down by 75% compared with 2023."", 'Its equity income from China was a loss of $4.41 billion, largely due to the restructuring actions.', '""In China, we reported positive equity income for the fourth quarter before restructuring costs, and we\'re taking steps with our partner to improve from there,"" GM CEO Mary Barra said in a letter to shareholders.', 'Jacobson reiterated that the company expects to restructure the operations without injecting more capital from the U.S. into China.', 'Aside from its financial results, GM said it expects to continue rolling out new products to assist its sales and earnings.', 'That includes electric vehicles, which the company said reached a targeted profitability on a production basis during the fourth quarter.', 'GM expects a $2 billion to $4 billion improvement this year compared with 2024, based on wholesale volumes of about300,000 EVs.', ""That would be a roughly 59% increase from the 189,000 units in 2024 — slightly below a previously announced target of 200,000 EVs, as the automaker attempted to lower its days' supply toward the end of the year."", '""We do think that we can grow our EV demand,"" Jacobson said. ""', ""We're going to continue to see how EV adoption progresses in 2025, but the 300,000 is the assumption that we base on being at the low end of the $2 billion to $4 billion of profit improvement."", '""GM said it\'s expecting improvements on scale, fixed cost absorption, and a continued focus on cell and vehicle cost reductions to drive improved earnings for EVs next year.', ""Additionally in 2025, Jacobson said GM will continue to look for opportunities to return value to shareholders as well as pay down thecompany's automotivedebt, including $1.75 billion that matures this year."", 'He said the company early retired $750 million in debt in December in addition to completing stock repurchases to lower its outstanding share count to below 1 billion to end the year.', 'For the entire U.S. industry, Jacobson said GM expects new vehicle sales to be relatively level this year compared with last at more than 16 million vehicles.', 'The Detroit automaker expects vehicle pricing, which has come down from record highs of recent years, to decline between 1% and 1.5%.Barra, in her shareholder letter, noted the current ""uncertainty over trade, tax, and environmental regulations"" could impact the automaker\'s business.', 'She said the company has been ""proactive with Congress and the administration"" about the importance of U.S. manufacturing and ""American leadership in advanced technologies.', '""""It\'s clear that we share a lot of common ground, and we appreciate the dialogue,"" said Barra, who spoke with Trump before his inauguration. ""', ""Whatever happens on these fronts, we have a broad and deep portfolio of [internal combustion engine] vehicles and EVs that are both growing market share, and we'll be agile and execute as efficiently as possible."", '""GM previously told CNBC that Barra\'s conversation with Trump was ""friendly and productive.', '""Trump has discussed implementing a 25% tariff on goods from Canada and Mexico, which could affect vehicles that are imported to the U.S.Most major automakers have factories in the U.S. However, they still heavily rely on imports from other countries, including Mexico, to meet American consumer demand.']",0.2306191398906844,"GM's 2025 guidance includes net income attributable to stockholders of $11.2 billion to $12.5 billion, or $11 to $12 in earnings per share; adjusted earnings before interest and taxes (EBIT) of $13.7 billion to $15.7 billion, or $11 to $12 adjusted EPS; and adjusted automotive free cash flow between $11 billion and $13 billion.",GM's quarterly results include $5 billion in special charges such as$4 billionin noncash restructuring charges related to its operations in China and $500 million in charges related to the decision to stop funding its Cruise robotaxi business.,0.3839311370482811,"GM's revenue last year increased to $187.44 billion, up 9.1% from 2023.GM's North American operations continued their yearslong trend of carrying the automaker's earnings.","In this articleDETROIT — General Motors stock fell more than 8% in trading Tuesday even as the company beat Wall Street's top- and bottom-line expectations for the fourth quarter, while forecasting continued strong results for 2025.Concerns of Wall Street analysts on the company's quarterly earnings callfocused on the automaker's preparation for changes under the Trump administration, including the impacts of potential tariffs on vehicle production and policy changes on electric vehicle sales and pricing, signaling an overhang on the auto industry.",2025-02-02
+Sports bar chain Twin Peaks is going public. These restaurant companies are the next to watch,https://www.cnbc.com/2025/01/30/twin-peaks-goes-public-panera-fogo-de-chao-consider-ipos.html,2025-01-30T13:03:55+0000,"In this articleSports bar chain Twin Peaks starts trading Thursday on the Nasdaq using the ticker ""TWNP,"" making it the first restaurant initial public offering of the new year and a potential litmus test for others looking to go public.The IPO market has been tepid for several years, particularly for consumer companies. Soaring inflation, higher interest rates, cautious consumers and the risk of lower valuations scared many companies away from going public. Market conditions meant that some companies chose to seek a sale rather than trying their luck with the public markets. Even the rare success, like Cava's IPO, didn't convince others to follow its path.But many are hopeful that the IPO market will thaw this year.""Last year was a stronger year than 2023, and we're expecting 2025 to have more IPOs than 2024,"" said Nick Einhorn, vice president of research for Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs. ""That could certainly include more consumer IPOs.""Twin Peaks won't be the first consumer company to make the leap this year — and that debut may not inspire confidence.Pork producer Smithfield Foods, a subsidiary of Hong Kong-based WH Group, began trading on Tuesday. Shares fell 7% from its IPO price of $20 during its market debut. The company had already downsized its offering by 8.1 million shares and priced below its marketed range. Smithfield's challenges include its ties to China, U.S. trade tensions with Mexico and proposed immigration policies that would raise its labor costs.For its part, Twin Peaks, a Hooters rival known for its revealing uniform, is relatively small, with an estimated equity value of $1.04 billion to $1.28 billion and 115 restaurants, according to an investor presentation published by owner Fat Brands. (Fat Brands and its chair Andy Wiederhorn were criminally indicted last year for an alleged $47 million bogus loan scheme; both have denied the charges.)Fat Brands is spinning off Twin Peaks and plans to use the cash to pay off the debt on its balance sheet.Here are three other restaurant companies that are watching the IPO market for their chance to go public:JAB Holding, the investment arm of the Reimann family, has been looking to offload Panera Brands, the parent company of Panera Bread and Einstein Bros. Bagels, from its portfolio for several years. JAB originally took Panera Bread private in 2017 for $7.5 billion.In 2021, Panera announced an investment from Danny Meyer's special purpose acquisition company that would help the company go public. But the two parties called off the deal by mid-2022, citing market conditions.A year and half later, in December 2023, Panera Brands confidentially filed to go public. Six months after the confidential filing, the company announced a CEO transition and tied the shakeup to ""preparation for its eventual IPO.""However, a public filing never followed. The restaurant industry began to see a pullback in spending, as many consumers opted to cook at home instead of dining out at eateries.Plus, Panera's Charged Lemonade went viral for all of the wrong reasons; the company removed the highly caffeinated drink from its menu after multiple wrongful death lawsuits tied to it. Panera settled with the first plaintiff in October.Earlier this month, Panera's CEO resigned, and the company tapped its chief financial officer to step in as interim chief. With its leadership in flux, it looks unlikely that Panera will try to go public again this year.A year and a half ago, Bain Capital announced that it is buying Fogo de Chao, a fast-growing Brazilian steakhouse chain. Like Krispy Kreme, Sweetgreen and Dutch Bros., the chain had filed to go public in 2021 — but it missed the window.  Fogo de Chao has over 100 locations globally and 76 in the U.S. alone. The company plans to open another 15 restaurants this year.Whenever the IPO market is ready, so will Fogo de Chao.""If the optionality is there, then we'll launch,"" Fogo de Chao CEO Barry McGowan told CNBC at the ICR Conference in Orlando earlier in January. ""My hope is, this year, we'll see what happens to the consumer markets. I think it's going to get started this year or in the next year.""McGowan joked that Fogo de Chao's longtime CFO Tony Laday has filed more S-1 filings than any other chief financial officer; the company filed three the first time it went public, and seven before Bain bought it.Thanks to Bain's investment, Fogo de Chao isn't in a rush to go public.""We're not in a hurry to go. We don't want to file seven more times. We want to be more certain before we file,"" McGowan said.Roark Capital assembled Inspire Brands by cobbling together a slew of acquisitions into a restaurant conglomerate.Inspire's portfolio includes Arby's, Jimmy John's, Sonic, Buffalo Wild Wings, Dunkin' and Baskin Robbins. Across all of its brands, it has more than 32,600 restaurants globally and totals $30 billion in system sales.Nearly a year ago, Bloomberg reported that Roark was in early-stage IPO discussions with potential advisers and seeking a valuation of $20 billion for Inspire. But it's been crickets since then.Still, Pitchbook identified Inspire Brands as one of 50 private equity-backed names that could go public in 2025.""Obviously, private equity backers will want to exit their position eventually, and IPOs are often a way to do that,"" Einhorn said.And unlike Panera, Inspire has a stable leadership team. CEO Paul Brown co-founded the company and has held his role since 2018. CFO Kate Jaspon joined Inspire in 2021 after it acquired her employer Dunkin'. More than a decade ago, she was a vice president at Dunkin' during its own IPO.",CNBC,30/01/2025,"['In this articleSports bar chain Twin Peaks starts trading Thursday on the Nasdaq using the ticker ""TWNP,"" making it the first restaurant initial public offering of the new year and a potential litmus test for others looking to go public.', 'The IPO market has been tepid for several years, particularly for consumer companies.', 'Soaring inflation, higher interest rates, cautious consumers and the risk of lower valuations scared many companies away from going public.', 'Market conditions meant that some companies chose to seek a sale rather than trying their luck with the public markets.', ""Even the rare success, like Cava's IPO, didn't convince others to follow its path."", 'But many are hopeful that the IPO market will thaw this year.', '""Last year was a stronger year than 2023, and we\'re expecting 2025 to have more IPOs than 2024,"" said Nick Einhorn, vice president of research for Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs. ""', 'That could certainly include more consumer IPOs.', '""Twin Peaks won\'t be the first consumer company to make the leap this year — and that debut may not inspire confidence.', 'Pork producer Smithfield Foods, a subsidiary of Hong Kong-based WH Group, began trading on Tuesday.', 'Shares fell 7% from its IPO price of $20 during its market debut.', 'The company had already downsized its offering by 8.1 million shares and priced below its marketed range.', ""Smithfield's challenges include its ties to China, U.S. trade tensions with Mexico and proposed immigration policies that would raise its labor costs."", 'For its part, Twin Peaks, a Hooters rival known for its revealing uniform, is relatively small, with an estimated equity value of $1.04 billion to $1.28 billion and 115 restaurants, according to an investor presentation published by owner Fat Brands. (', 'Fat Brands and its chair Andy Wiederhorn were criminally indicted last year for an alleged $47 million bogus loan scheme; both have denied the charges.)Fat Brands is spinning off Twin Peaks and plans to use the cash to pay off the debt on its balance sheet.', 'Here are three other restaurant companies that are watching the IPO market for their chance to go public:JAB Holding, the investment arm of the Reimann family, has been looking to offload Panera Brands, the parent company of Panera Bread and Einstein Bros. Bagels, from its portfolio for several years.', 'JAB originally took Panera Bread private in 2017 for $7.5 billion.', ""In 2021, Panera announced an investment from Danny Meyer's special purpose acquisition company that would help the company go public."", 'But the two parties called off the deal by mid-2022, citing market conditions.', 'A year and half later, in December 2023, Panera Brands confidentially filed to go public.', 'Six months after the confidential filing, the company announced a CEO transition and tied the shakeup to ""preparation for its eventual IPO.""However, a public filing never followed.', 'The restaurant industry began to see a pullback in spending, as many consumers opted to cook at home instead of dining out at eateries.', ""Plus, Panera's Charged Lemonade went viral for all of the wrong reasons; the company removed the highly caffeinated drink from its menu after multiple wrongful death lawsuits tied to it."", 'Panera settled with the first plaintiff in October.', ""Earlier this month, Panera's CEO resigned, and the company tapped its chief financial officer to step in as interim chief."", 'With its leadership in flux, it looks unlikely that Panera will try to go public again this year.', 'A year and a half ago, Bain Capital announced that it is buying Fogo de Chao, a fast-growing Brazilian steakhouse chain.', 'Like Krispy Kreme, Sweetgreen and Dutch Bros., the chain had filed to go public in 2021 — but it missed the window.', 'Fogo de Chao has over 100 locations globally and 76 in the U.S. alone.', 'The company plans to open another 15 restaurants this year.', 'Whenever the IPO market is ready, so will Fogo de Chao.', '""If the optionality is there, then we\'ll launch,"" Fogo de Chao CEO Barry McGowan told CNBC at the ICR Conference in Orlando earlier in January. ""', ""My hope is, this year, we'll see what happens to the consumer markets."", ""I think it's going to get started this year or in the next year."", '""McGowan joked that Fogo de Chao\'s longtime CFO Tony Laday has filed more S-1 filings than any other chief financial officer; the company filed three the first time it went public, and seven before Bain bought it.', ""Thanks to Bain's investment, Fogo de Chao isn't in a rush to go public."", '""We\'re not in a hurry to go.', ""We don't want to file seven more times."", 'We want to be more certain before we file,"" McGowan said.', 'Roark Capital assembled Inspire Brands by cobbling together a slew of acquisitions into a restaurant conglomerate.', ""Inspire's portfolio includes Arby's, Jimmy John's, Sonic, Buffalo Wild Wings, Dunkin' and Baskin Robbins."", 'Across all of its brands, it has more than 32,600 restaurants globally and totals $30 billion in system sales.', 'Nearly a year ago, Bloomberg reported that Roark was in early-stage IPO discussions with potential advisers and seeking a valuation of $20 billion for Inspire.', ""But it's been crickets since then."", 'Still, Pitchbook identified Inspire Brands as one of 50 private equity-backed names that could go public in 2025.""Obviously, private equity backers will want to exit their position eventually, and IPOs are often a way to do that,"" Einhorn said.', 'And unlike Panera, Inspire has a stable leadership team.', 'CEO Paul Brown co-founded the company and has held his role since 2018.', ""CFO Kate Jaspon joined Inspire in 2021 after it acquired her employer Dunkin'."", ""More than a decade ago, she was a vice president at Dunkin' during its own IPO.""]",0.1443571251569377,"Even the rare success, like Cava's IPO, didn't convince others to follow its path.","Plus, Panera's Charged Lemonade went viral for all of the wrong reasons; the company removed the highly caffeinated drink from its menu after multiple wrongful death lawsuits tied to it.",-0.4373505661884944,"""Last year was a stronger year than 2023, and we're expecting 2025 to have more IPOs than 2024,"" said Nick Einhorn, vice president of research for Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs. ""","The restaurant industry began to see a pullback in spending, as many consumers opted to cook at home instead of dining out at eateries.",2025-02-02
+FAA to restrict helicopter traffic around D.C. airport after fatal airplane collision,https://www.cnbc.com/2025/01/31/faa-restricts-airspace-dca-washington-aiport-crash.html,2025-01-31T23:08:54+0000,"In this articleWASHINGTON — The Federal Aviation Administration will restrict helicopter traffic around Ronald Reagan Washington National Airport in Washington, D.C., after the fatal collision of Army Black Hawk helicopter with an American Airlines jetliner earlier this week, Transportation Secretary Sean Duffy said Friday.""Today's decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today's action is a significant step towards restoring that trust.""The restricted area includes Memorial Bridge to South Capitol Street Bridge, excluding the Tidal Basin; Haines Point to Wilson Bridge; and the airspace above the airport, Duffy said in the post.National Transportation Safety Board member Todd Inman said at a briefing Thursday afternoon that helicopters operate in zones, or tracks, in Washington. ""This one was transitioning from track one to four as part of their normal procedure,"" he said. ""If you live in D.C., you see a lot of helicopters going down into this area. So there's a very well-defined system.""American Eagle Flight 5342 was seconds away from landing at Reagan National Airport when it collided with the Army helicopter on Wednesday night. All 64 people on board the plane and all three people on the helicopter died. It was the first deadly commercial airline crash in the U.S. in more than 15 years and the deadliest since 2001.American Airlines CEO Robert Isom said Thursday that it was not clear ""why the military aircraft came into the path"" of its aircraft. On Friday, Isom thanked President Donald Trump ""for his leadership on aviation safety. I applaud him, Secretary Duffy and the Administration for taking quick and decisive action today to restrict helicopter activity around DCA.""Investigators on Friday continued their investigation, looking at aspects such as the altitude of the aircraft, staffing and communication with air traffic controllers.The American Airlines plane, a regional CRJ700 that was arriving from Wichita, Kansas, was flying at about 300 feet on its final approach when it collided with the Black Hawk.According to FAA rules, helicopters, which routinely cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.",CNBC,31/01/2025,"['In this articleWASHINGTON — The Federal Aviation Administration will restrict helicopter traffic around Ronald Reagan Washington National Airportin Washington, D.C., after the fatal collision of Army Black Hawk helicopter with an American Airlines jetliner earlier this week, Transportation Secretary Sean Duffy said Friday.', '""Today\'s decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today\'s action is a significant step towards restoring that trust.', '""The restricted area includes Memorial Bridge to South Capitol Street Bridge, excluding the Tidal Basin; Haines Point to Wilson Bridge; and the airspace above the airport, Duffy said in the post.', 'National Transportation Safety Board member Todd Inman said at a briefing Thursday afternoon that helicopters operate in zones, or tracks, in Washington. ""', 'This one was transitioning from track one to four as part of their normal procedure,"" he said. ""', 'If you live in D.C., you see a lot of helicopters going down into this area.', ""So there's a very well-defined system."", '""American Eagle Flight 5342 was seconds away from landing at Reagan National Airport when it collided with the Army helicopter on Wednesday night.', 'All 64 people on board the plane and all three people on the helicopter died.', 'It was the first deadly commercial airline crash in the U.S. in more than 15 years and the deadliest since 2001.American Airlines CEO Robert Isom said Thursday that it was not clear ""why the military aircraft came into the path"" of its aircraft.', 'On Friday, Isom thanked President Donald Trump""for his leadership on aviation safety.', 'I applaud him, Secretary Duffy and the Administration for taking quick and decisive action today to restrict helicopter activity around DCA.""Investigators on Friday continued their investigation, looking at aspects such as the altitude of the aircraft, staffing and communication with air traffic controllers.', 'The American Airlines plane, a regional CRJ700 that was arriving from Wichita, Kansas, was flying at about 300 feet on its final approach when it collided with the Black Hawk.', 'According to FAA rules, helicopters, which routinely cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.']",0.0261326675356146,"""Today's decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today's action is a significant step towards restoring that trust.","In this articleWASHINGTON — The Federal Aviation Administration will restrict helicopter traffic around Ronald Reagan Washington National Airportin Washington, D.C., after the fatal collision of Army Black Hawk helicopter with an American Airlines jetliner earlier this week, Transportation Secretary Sean Duffy said Friday.",0.412668228149414,"""Today's decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today's action is a significant step towards restoring that trust.","It was the first deadly commercial airline crash in the U.S. in more than 15 years and the deadliest since 2001.American Airlines CEO Robert Isom said Thursday that it was not clear ""why the military aircraft came into the path"" of its aircraft.",2025-02-02
+"Crash investigators looking at altitude, communication and staffing before helicopter collision with plane",https://www.cnbc.com/2025/01/31/american-airlines-helicopter-crash.html,2025-02-01T00:06:18+0000,"WASHINGTON — How an Army Black Hawk helicopter collided with American Airlines jetliner in a deadly crash over the Potomac River on Wednesday night is still unknown, but key questions are emerging, including about the altitude of the military helicopter.Crash investigators recovered a flight recorder from the Sikorsky H-60 helicopter, adding to evidence they will comb through, which already includes interviews with air traffic controllers, including the one on duty at the time of the crash, and the two recorders from the airplane, National Transportation Safety Board member Todd Inman said Friday.Barges are en route to lift the large pieces of the CRJ-700 from the Potomac River on Saturday, Inman said at a briefing.All 64 people on American Flight 5342 and the three aboard the helicopter were killed in the fireball collision near the Washington, D.C.'s Reagan National Airport, marking the deadliest U.S. air crash since 2001.Forty-one bodies have been recovered from the crash site, Fire and EMS Chief John Donnelly said at a press conference Friday. Of those, 28 have been positively identified.""We have in aviation what's called a 'Swiss cheese approach,' wherein if something fails, a backup should catch it, multiple layers of redundancy,"" Inman said. ""It's been a very long time since we've had a major aviation incident in the United States and that's why it's one of the safest forms of transportation in the country.""The PSA Airlines Bombardier CRJ-700 aircraft was flying at about 300 feet on final approach into Reagan National's Runway 33 shortly before 9 p.m. ET on Wednesday when it collided with the Black Hawk helicopter.PSA Airlines is one of American's subsidiaries that flies regional routes, flights marketed as American Eagle.Defense Secretary Pete Hegseth said the helicopter was on an annual proficiency training flight.According to Federal Aviation Administration rules, helicopters, which regularly cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.""In D.C., it's kind of a unique environment,"" Inman said at a briefing Thursday. He noted that there are helicopter zones, or tracks, in Washington. ""This one was transitioning from track one to four as part of their normal procedure. If you live in D.C., you see a lot of helicopters going down into this area. So there's a very well-defined system.""The FAA will restrict helicopter traffic around the Reagan National Airport area, with some exceptions for medical evacuation and law enforcement operations, Secretary of Transportation Sean Duffy said on X Friday.The airspace is some of the most congested in the country and Reagan National says its main runway is the busiest in the U.S.While the investigation is ongoing, two out of three runways are closed at the airport because of their proximity to the crash area. Terry Liercke, vice president and airport manager, told the press Friday that he expects those closures could last for about a week.Officials at the airport said more than 100 flights had been canceled Friday, citing the runway closures and bad weather.""As you turn to align with the runway, your concentration is on the flight path to get on the runway quickly and get the airplane stopped,"" said John Cox, a retired airline pilot and aviation safety consultant.The NTSB is leading the investigation into the collision that ended in a fireball. The agency said it is still gathering information and that it is too early to draw conclusions.""It's not that we don't have information. We do have information,"" said NTSB Chair Jennifer Homendy. ""We have substantial amounts of information. We need to verify information. We need to take our time to make sure it is accurate.""The NTSB also recovered flight data and cockpit voice recorders from the passenger jet. The boxes were taken to NTSB labs for evaluation, the agency said.President Donald Trump on Friday wrote on Truth Social that the helicopter ""was flying too high, by a lot. It was far above the 200 foot limit. That's not really too complicated to understand, is it???""Hegseth made a similar statement at a White House briefing Thursday.""Tragically, last night a mistake was made,"" he said. ""There was some sort of an elevation issue that we have immediately begun investigating at the DoD and Army level.""Both statements were unusual in the wake of a crash and the early stages of an airline accident investigation.The accident ends a decade-and-a-half period of air safety in the U.S., which hasn't seen a fatal commercial crash since 2009, even though passenger traffic has increased by more than 35% to records. That crash prompted a host of stricter pilot training and rest standards.Shortages of air traffic controllers has been a concern for years, and a spate of close calls at U.S. airports have drawn scrutiny from lawmakers and regulators.Staffing at Reagan National the night of the crash wasn't normal for the amount of traffic and time of day on the night of the crash, according to a preliminary FAA safety report on the collision, NBC News reported on Thursday.Citing a source, NBC said the airport tower usually has a controller who focuses on helicopter traffic, though FAA guidelines allow for that position to be combined with another controller's position, so one controller controls both airplanes and helicopters. The FAA didn't respond to a request for comment on the report.NBC News reported on Friday, citing a source familiar with the investigation that a supervisor at the Reagan National tower let a controller leave their shift early. Inman said on Friday that investigators will look back at air traffic controllers' past 72 hours or even weeks.""We'll look at their training, their hiring, everything, what they probably ate that day,"" he said. ""But it is not one point that tells us everything. It's layered into a lot of other information that's very critical.""",CNBC,01/02/2025,"['WASHINGTON — How an Army Black Hawk helicopter collided with American Airlines jetliner in a deadly crash over the Potomac River on Wednesday night is still unknown, but key questions are emerging, including about the altitude of the military helicopter.', 'Crash investigators recovered a flight recorder from the Sikorsky H-60 helicopter, adding to evidence they will comb through, which already includes interviews with air traffic controllers, including the one on duty at the time of the crash, and the two recorders from the airplane, National Transportation Safety Board member Todd Inman said Friday.', 'Barges are en route to lift the large pieces of the CRJ-700 from the Potomac River on Saturday, Inman said at a briefing.', ""All64 people on American Flight 5342 and the three aboard the helicopter were killed in the fireball collisionnear the Washington, D.C.'s Reagan National Airport, marking the deadliest U.S. air crash since 2001.Forty-one bodies have been recovered from the crash site, Fireand EMS Chief JohnDonnelly said at a press conference Friday."", 'Of those, 28 have been positively identified.', '""We have in aviation what\'s called a \'Swiss cheese approach,\' wherein if something fails, a backup should catch it, multiple layers of redundancy,"" Inman said. ""', ""It's been a very long time since we've had a major aviation incident in the United States and that's why it's one of the safest forms of transportation in the country."", '""The PSA Airlines Bombardier CRJ-700 aircraft was flying at about 300 feet on final approach into Reagan National\'s Runway 33 shortly before 9 p.m. ET on Wednesday when it collided with the Black Hawk helicopter.', ""PSA Airlines is one of American's subsidiaries that flies regional routes, flights marketed as American Eagle."", 'Defense Secretary Pete Hegseth said the helicopter was on an annual proficiency training flight.', 'According to Federal Aviation Administration rules, helicopters, which regularly cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.', '""In D.C., it\'s kind of a unique environment,"" Inman said at a briefing Thursday.', 'He noted that there are helicopter zones, or tracks, in Washington. ""', 'This one was transitioning from track one to four as part of their normal procedure.', 'If you live in D.C., you see a lot of helicopters going down into this area.', ""So there's a very well-defined system."", '""The FAA will restrict helicopter traffic around the Reagan National Airport area, with some exceptions for medical evacuation and law enforcement operations, Secretary of Transportation Sean Duffy said on X Friday.', 'The airspace is some of the most congested in the country and Reagan National says its main runway is the busiest in the U.S.While the investigation is ongoing, two out of three runways are closed at the airport because of their proximity to the crash area.', 'Terry Liercke, vice president and airport manager, told the press Friday that he expects those closures could last for about a week.', 'Officials at the airport said more than 100 flights had been canceled Friday, citing the runway closures and bad weather.', '""As you turn to align with the runway, your concentration is on the flight path to get on the runway quickly and get theairplanestopped,"" said John Cox, a retired airline pilot and aviation safety consultant.', 'The NTSB is leading the investigation into the collision that ended in a fireball.', 'The agency said it is still gathering information and that it is too early to draw conclusions.', '""It\'s not that we don\'t have information.', 'We do have information,"" said NTSB Chair Jennifer Homendy. ""', 'We have substantial amounts of information.', 'We need to verify information.', 'We need to take our time to make sure it is accurate.', '""The NTSB also recovered flight data and cockpit voice recorders from the passenger jet.', 'The boxes were taken to NTSB labs for evaluation, the agency said.', 'President Donald Trump on Friday wrote on Truth Social that the helicopter ""was flying too high, by a lot.', 'It was far above the 200 foot limit.', 'That\'s not really too complicated to understand, is it???""Hegseth made a similar statement at a White House briefing Thursday.', '""Tragically, last night a mistake was made,"" he said. ""', 'There was some sort of an elevation issue that we have immediately begun investigating at the DoD and Army level.', '""Both statements were unusual in the wake of a crash and the early stages of an airline accident investigation.', ""The accident ends adecade-and-a-halfperiod of air safety in the U.S., which hasn't seen a fatal commercial crash since 2009, even though passenger traffic has increased by more than 35% to records."", 'That crash prompted a host of stricter pilot training and rest standards.', 'Shortages of air traffic controllers has been a concern for years, and a spate of close calls at U.S. airports have drawn scrutiny from lawmakers and regulators.', ""Staffing at Reagan National the night of the crash wasn't normal for the amount of traffic and time of day on the night of the crash, according to a preliminary FAA safety report on the collision, NBCNewsreported on Thursday."", ""Citing a source, NBC said the airport tower usually has a controller who focuses on helicopter traffic, though FAA guidelines allow for that position to be combined with another controller's position, so one controller controls both airplanes and helicopters."", ""The FAA didn't respond to a request for comment on the report."", 'NBC News reported on Friday, citing a source familiar with the investigation that a supervisor at the Reagan National tower let a controller leave their shift early.', ""Inman said on Friday that investigators will look back at air traffic controllers' past 72 hours or even weeks."", '""We\'ll look at their training, their hiring, everything, what they probably ate that day,"" he said. ""', 'But it is not one point that tells us everything.', 'It\'s layered into a lot of other information that\'s very critical.""']",-0.0765052939363805,It's been a very long time since we've had a major aviation incident in the United States and that's why it's one of the safest forms of transportation in the country.,"All64 people on American Flight 5342 and the three aboard the helicopter were killed in the fireball collisionnear the Washington, D.C.'s Reagan National Airport, marking the deadliest U.S. air crash since 2001.Forty-one bodies have been recovered from the crash site, Fireand EMS Chief JohnDonnelly said at a press conference Friday.",-0.5827317635218302,"The accident ends adecade-and-a-halfperiod of air safety in the U.S., which hasn't seen a fatal commercial crash since 2009, even though passenger traffic has increased by more than 35% to records.","Shortages of air traffic controllers has been a concern for years, and a spate of close calls at U.S. airports have drawn scrutiny from lawmakers and regulators.",2025-02-02
+New York City office demand is finally back to normal,https://www.cnbc.com/2025/01/31/new-york-city-office-demand-back-to-normal.html,2025-01-31T20:42:30+0000,"In this articleDemand for New York City office space has finally returned to pre-pandemic levels, driven by an influx of new workers as well as a drive by employers to see current workers return to the office.During the fourth quarter, office demand in the city jumped 25% from the year before, according to VTS, which measures demand through unique new tenant tours of properties. The measure is an early indicator of new leasing.""New York City's shift back to in-office work reflects the city's unique cultural and economic dynamics, especially in the finance and tech sectors,"" said Nick Romito, CEO of VTS, in a news release.SL Green Realty Corp., a real estate investment trust, or REIT, concentrated in Manhattan office and retail, released earnings last week, and while it missed revenue expectations, analysts pointed to further tightening in the office market as leasing demand accelerates.On a call with analysts, SL Green Realty CEO Marc Holliday noted that the city's Office of Management and Budget is forecasting about 38,000 new office-using jobs in 2025, mostly stemming from finance, business services and information technology.""That translates into millions and millions of square feet of new absorption for each one of those bodies, and those are not work-from-home bodies for the most part,"" said Holliday. ""Combine that with the fact that on-site attendance is rising every month as companies are calling people back to the office four and five days a week. We expect to see very strong demand for office space throughout 2025,"" Holliday added.Holliday also noted SL Green ended the year at 92.5% occupancy, and is projecting more than 93% leased occupancy over the coming year.Tech giant IBM recently signed a 92,663-square-foot expansion lease with SL Green at One Madison Avenue, increasing IBM's total footprint at the property to more than 362,000 square feet.""The expansion of IBM's flagship office at One Madison Avenue reaffirms a long-standing commitment to advance the technology sector in New York City and New York State, with a vibrant and collaborative workspace designed to bring employees, clients and partners together from around the world,"" said Joanne Wright, IBM senior vice president for transformation and operations, in a release.New York is the clear winner in the office recovery, but VTS notes other improving markets. San Francisco saw a 32% annual growth rate in demand, a faster growth rate than New York's, though it was starting at a much weaker position. Seattle and Chicago saw growth rates of around 15% each as employers in those cities increasingly embrace hybrid work models that require consistent in-office presence.""The data shows that while some markets, like New York City, are rapidly returning to traditional office settings, the national picture reflects slow but steady progress,"" said Ryan Masiello, chief strategy officer of VTS.Nationally, demand in the fourth quarter was up 12% from the previous quarter. Historically, demand declines from the third quarter to the fourth quarter.""This growth is notable — not only for defying seasonal expectations, but for emerging in the midst of a cooling labor market. Businesses appear more willing to invest in office space despite economic uncertainty, signaling a shift in confidence and long-term planning,"" Masiello said.",CNBC,31/01/2025,"['In this articleDemand for New York City office space has finally returned to pre-pandemic levels, driven by an influx of new workers as well as a drive by employers to see current workers return to the office.', 'During the fourth quarter, office demand in the city jumped 25% from the year before, according to VTS, which measures demand through unique new tenant tours of properties.', 'The measure is an early indicator of new leasing.', '""New York City\'s shift back to in-office work reflects the city\'s unique cultural and economic dynamics, especially in the finance and tech sectors,"" said Nick Romito, CEO of VTS, in a news release.', 'SL Green Realty Corp., a real estate investment trust, or REIT, concentrated in Manhattan office and retail, released earnings last week, and while it missed revenue expectations, analysts pointed to further tightening in the office market as leasing demand accelerates.', ""On a call with analysts, SL Green Realty CEO Marc Holliday noted thatthe city's Office of Management and Budget is forecasting about 38,000 new office-using jobs in 2025, mostly stemming from finance, business services and information technology."", '""That translates into millions and millions of square feet of new absorption for each one of those bodies, and those are not work-from-home bodies for the most part,"" said Holliday. ""', 'Combine that with the fact that on-site attendance is rising every month as companies are calling people back to the office four and five days a week.', 'We expect to see very strong demand for office space throughout 2025,"" Holliday added.', 'Holliday also noted SL Green ended the year at 92.5% occupancy, and is projecting more than 93% leased occupancy over the coming year.', ""Tech giant IBM recently signed a 92,663-square-foot expansion lease with SL Green at One Madison Avenue, increasing IBM's total footprint at the property to more than 362,000 square feet."", '""The expansion of IBM\'s flagship office at One Madison Avenue reaffirms a long-standing commitment to advance the technology sector in New York City and New York State, with a vibrant and collaborative workspace designed to bring employees, clients and partners together from around the world,"" saidJoanne Wright, IBM senior vice president for transformation and operations, in a release.', 'New York is the clear winner in the office recovery, but VTS notes other improving markets.', ""San Francisco saw a 32% annual growth rate in demand, a faster growth rate than New York's, though it was starting at a much weaker position."", 'Seattle and Chicago saw growth rates of around 15% each as employers in those cities increasingly embrace hybrid work models that require consistent in-office presence.', '""The data shows that while some markets, like New York City, are rapidly returning to traditional office settings, the national picture reflects slow but steady progress,"" said Ryan Masiello, chief strategy officer of VTS.Nationally, demand in the fourth quarter was up 12% from the previous quarter.', 'Historically, demand declines from the third quarter to the fourth quarter.', '""This growth is notable — not only for defying seasonal expectations, but for emerging in the midst of a cooling labor market.', 'Businesses appear more willing to invest in office space despite economic uncertainty, signaling a shift in confidence and long-term planning,"" Masiello said.']",0.2373358636412649,"New York is the clear winner in the office recovery, but VTS notes other improving markets.","During the fourth quarter, office demand in the city jumped 25% from the year before, according to VTS, which measures demand through unique new tenant tours of properties.",0.8551942780613899,"""The data shows that while some markets, like New York City, are rapidly returning to traditional office settings, the national picture reflects slow but steady progress,"" said Ryan Masiello, chief strategy officer of VTS.Nationally, demand in the fourth quarter was up 12% from the previous quarter.","Historically, demand declines from the third quarter to the fourth quarter.",2025-02-02
+"Starbucks shakes up its leadership again, adding two former Taco Bell executives",https://www.cnbc.com/2025/01/28/starbucks-adds-two-former-taco-bell-executives-ahead-of-earnings.html,2025-01-28T21:58:50+0000,"In this articleStarbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.""As we focus on our 'Back to Starbucks' plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for each role,"" Niccol said in a letter to employees shared on the company's website.Starbucks announced the move hours before it reported fiscal first-quarter earnings and revenue that topped analyst expectations. As the company tries to mount a turnaround, same-stores sales declined for the fourth straight quarter, but not as badly as Wall Street expected.Before spending six years at Chipotle, Niccol served as CEO of Yum Brands' Taco Bell. Since starting at Starbucks in September, he has already poached some of his former colleagues to help with his transformation of the coffee giant. For example, he tapped Chipotle and Yum Brands alum Tressie Lieberman as Starbucks' global chief brand officer in the fall.The newest changes to the Starbucks organization include splitting the role of North American president into two jobs. The company's current North American president, Sara Trilling, will depart the company. Trilling has been with Starbucks since 2002.Starting in February, Meredith Sandland will hold the role of chief store development officer. Sandland is currently CEO of Empower Delivery, a restaurant software company. Previously, she served as chief operating officer of Kitchen United and as Taco Bell's chief development officer.Additionally, Mike Grams will join the company in February as North America chief stores officer. Grams has been with Taco Bell for more than 30 years, starting as a restaurant general manager and working his way up to become the chain's global chief operating officer, according to his LinkedIn.Both Sandland and Grams will be tasked with implementing Niccol's vision to go ""back to Starbucks."" The strategy includes decreasing service times to four minutes per order, making its stores more welcoming and cozy, as well as slashing the menu.Arthur Valdez, Starbucks' chief supply officer, also plans to leave the company. He joined in 2023 after seven years at Target. Starbucks has already identified his replacement and will share that news in the coming weeks, Niccol said in the letter.",CNBC,28/01/2025,"['In this articleStarbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.', '""As we focus on our \'Back to Starbucks\' plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for each role,"" Niccol said in a letter to employees shared on the company\'s website.', 'Starbucks announced the move hours before it reported fiscal first-quarter earnings and revenue that topped analyst expectations.', 'As the company tries to mount a turnaround, same-stores sales declined for the fourth straight quarter, but not as badly as Wall Street expected.', ""Before spending six years at Chipotle, Niccol served as CEO of Yum Brands' Taco Bell."", 'Since starting at Starbucks in September, he has already poached some of his former colleagues to help with his transformation of the coffee giant.', ""For example, he tapped Chipotleand Yum Brands alum Tressie Lieberman as Starbucks' global chief brand officer in the fall."", 'The newest changes to the Starbucks organization include splitting the role of North American president into two jobs.', ""The company's current North American president, Sara Trilling, will depart the company."", 'Trilling has been with Starbucks since 2002.Starting in February, Meredith Sandland will hold the role of chief store development officer.', 'Sandland is currently CEO of Empower Delivery, a restaurant software company.', ""Previously, she served as chief operating officer of Kitchen United and as Taco Bell's chief development officer."", 'Additionally, Mike Grams will join the company in February as North America chief stores officer.', ""Grams has been with Taco Bell for more than 30 years, starting as a restaurant general manager and working his way up to become the chain's global chief operating officer, according to his LinkedIn."", 'Both Sandland and Grams will be tasked with implementing Niccol\'s vision to go ""back to Starbucks.""', 'The strategy includes decreasing service times to four minutes per order, making its stores more welcoming and cozy, as well as slashing the menu.', ""Arthur Valdez, Starbucks' chief supply officer, also plans to leave the company."", 'He joined in 2023 after seven years at Target.', 'Starbucks has already identified his replacement and will share that news in the coming weeks, Niccol said in the letter.']",0.1644333841535685,"""As we focus on our 'Back to Starbucks' plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for each role,"" Niccol said in a letter to employees shared on the company's website.","In this articleStarbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.",0.3316976229349772,Starbucks announced the move hours before it reported fiscal first-quarter earnings and revenue that topped analyst expectations.,"As the company tries to mount a turnaround, same-stores sales declined for the fourth straight quarter, but not as badly as Wall Street expected.",2025-02-02
+"Starbucks earnings top estimates, but same-store sales decline for fourth straight quarter",https://www.cnbc.com/2025/01/28/starbucks-sbux-q1-2025-earnings.html,2025-01-29T15:36:22+0000,"In this articleStarbucks on Tuesday reported that its same-store sales slid for the fourth consecutive quarter, but the company's quarterly earnings and revenue beat Wall Street's expectations.The coffee giant kicked off a turnaround plan last quarter in the hopes of reviving its U.S. business, which has slumped over the past year.""While we have room for improvement, we're making progress as planned, and have confidence we're on the right track,"" CEO Brian Niccol said in a video released on the company's website Tuesday afternoon.He added that the company has seen a ""positive response"" to the early steps it has taken. Those tweaks have included removing extra charges for nondairy milk options, focusing its marketing on its coffee and slashing 30% of its food and beverage menu items by the end of fiscal 2025.Here is what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Starbucks reported fiscal first-quarter net income attributable to the company of $780.8 million, or 69 cents per share, down from $1.02 billion, or 90 cents per share, a year earlier.The company's net sales of $9.4 billion were unchanged from a year earlier.Starbucks' same-store sales fell 4%, fueled by a 6% decline in traffic to its stores. Wall Street was expecting a steeper drop of 5.5%, according to StreetAccount estimates. Both its U.S. and international locations outperformed expectations.U.S. same-store sales slid 4% as traffic to its cafes fell 8%. Under Niccol, who took the reins in September, the company has been trying to turn around its U.S. business by getting ""back to Starbucks"" and returning its focus to coffee and the customer experience.Starbucks has also been cutting back on deals, so its discounted transactions fell 40% during the quarter. Niccol credited the pullback in discounts for the chain's sales improvement throughout the quarter.Outside of its home market, same-store sales also declined 4%.Starbucks' same-store sales in China, its second-largest market, fell 6%, fueled by a 4% decline in average ticket. The coffee giant has been leaning into discounts in China to compete with rivals that have much lower prices, such as Luckin Coffee.Niccol said he made his first visit to stores in China last week. The company is exploring strategic partnerships to grow its business in the country.""We're processing these learnings, and we will share more as we do,"" he told analysts on the company's conference call.In October, the company suspended its forecast for fiscal 2025, citing the turnaround efforts. On Tuesday's call, executives also backed away from a target of $4 billion in supply-chain cost savings by 2028; Niccol's predecessor Laxman Narasimhan had shared that number in April 2024, just as sales began to shrink and months before he was out of the job.Starbucks is also planning fewer new locations and renovations in fiscal 2025 to free up capital to fuel its comeback. However, Niccol sees strong demand for more cafes in the long term.""In the U.S. alone, we still see the potential to double our store count, while improving the overall health of our portfolio. We'll do this through a strong store renovation program, new store builds, and store closures,"" Niccol said.The company is also trying to improve its speed of service by scheduling more workers, removing bottlenecks behind its coffee counters and making baristas' jobs easier.For example, Starbucks plans to prioritize installing its Siren equipment in its busiest locations, Niccol said. The new equipment includes a custom ice dispenser, milk-dispensing system and faster blenders so baristas can make drinks more quickly.Starbucks is also piloting a new algorithm to manage the order that baristas should make both mobile and in-store drinks. If successful, the algorithm could solve Starbucks' overcrowded pick-up counters that cause frustration for both customers and baristas.Niccol also has plans for Starbucks' corporate workforce. He has been reorganizing the company's structure, including splitting the role of North American president into two jobs. Earlier on Tuesday, the company announced it has hired two alumni from Taco Bell, Niccol's employer prior to Chipotle.In early March, the company is planning to lay off workers, although Starbucks has not yet shared how many jobs will be affected.",CNBC,29/01/2025,"[""In this articleStarbucks on Tuesday reported that its same-store sales slid for the fourth consecutive quarter, but the company's quarterly earnings and revenue beat Wall Street's expectations."", 'The coffee giant kicked off a turnaround plan last quarter in the hopes of reviving its U.S. business, which hasslumpedover the past year.', '""While we have room for improvement, we\'re making progress as planned, and have confidence we\'re on the right track,"" CEO Brian Niccol said in a video released on the company\'s website Tuesday afternoon.', 'He added that the company has seen a ""positive response"" to the early steps it has taken.', 'Those tweaks have included removing extra charges for nondairy milk options, focusing its marketing on its coffee and slashing 30% of its food and beverage menu items by the end of fiscal 2025.Here is what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Starbucks reported fiscal first-quarter net income attributable to the company of $780.8 million, or 69 cents per share, down from $1.02 billion, or 90 cents per share, a year earlier.', ""The company's net salesof $9.4 billion were unchanged from a year earlier."", ""Starbucks' same-store sales fell 4%, fueled by a 6% decline in traffic to its stores."", 'Wall Street was expecting a steeper drop of 5.5%, according to StreetAccount estimates.', 'Bothits U.S. and international locations outperformed expectations.', 'U.S. same-store sales slid 4% as traffic to its cafes fell 8%.', 'Under Niccol, who took the reins in September, the company has been trying to turn around its U.S. business by getting ""back to Starbucks"" and returning its focus to coffee and the customer experience.', 'Starbucks has also been cutting back on deals, so its discounted transactions fell 40% during the quarter.', ""Niccol credited the pullback in discounts for the chain's sales improvement throughout the quarter."", ""Outside of its home market, same-store sales also declined 4%.Starbucks' same-store sales in China, its second-largest market, fell 6%, fueled by a 4% decline in average ticket."", 'The coffee giant has been leaning into discounts in China to compete with rivals that have much lower prices, such as Luckin Coffee.', 'Niccol said he made his first visit to stores in China last week.', 'The company is exploring strategic partnerships to grow its business in the country.', '""We\'re processing these learnings, and we will share more as we do,"" he told analysts on the company\'s conference call.', 'In October, the company suspended its forecast for fiscal 2025, citing the turnaround efforts.', ""On Tuesday's call, executives also backed away from a target of $4 billion in supply-chain cost savings by 2028; Niccol's predecessor Laxman Narasimhan had shared that number in April 2024, just as sales began to shrink and months before he was out of the job."", 'Starbucks is also planning fewer new locations and renovations in fiscal 2025 to free up capital to fuel its comeback.', 'However, Niccol sees strong demand for more cafes in the long term.', '""In the U.S. alone, we still see the potential to double our store count, while improving the overall health of our portfolio.', 'We\'ll do this through a strong store renovation program, new store builds, and store closures,"" Niccol said.', ""The company is also trying to improve its speed of service by scheduling more workers, removing bottlenecks behind its coffee counters and making baristas' jobs easier."", 'For example, Starbucks plans to prioritize installing its Siren equipment in its busiest locations, Niccol said.', 'The new equipment includes a custom ice dispenser, milk-dispensing system and faster blenders so baristas can make drinks more quickly.', 'Starbucks is also piloting a new algorithm to manage the order that baristas should make both mobile and in-store drinks.', ""If successful, the algorithm could solve Starbucks' overcrowded pick-up counters that cause frustration for both customers and baristas."", ""Niccol also has plans for Starbucks' corporate workforce."", ""He has been reorganizing the company's structure, including splitting the role of North American president into two jobs."", ""Earlier on Tuesday, the company announced it has hired two alumni from Taco Bell, Niccol's employer prior to Chipotle."", 'In early March, the company is planning to lay off workers, although Starbucks has not yet shared how many jobs will be affected.']",0.1369357205579486,"""While we have room for improvement, we're making progress as planned, and have confidence we're on the right track,"" CEO Brian Niccol said in a video released on the company's website Tuesday afternoon.","In October, the company suspended its forecast for fiscal 2025, citing the turnaround efforts.",0.2201510667800903,"""In the U.S. alone, we still see the potential to double our store count, while improving the overall health of our portfolio.",U.S. same-store sales slid 4% as traffic to its cafes fell 8%.,2025-02-02
+Planet lands $230 million contract for Pelican imagery satellites,https://www.cnbc.com/2025/01/29/planet-lands-230-million-contract-for-pelican-imagery-satellites.html,2025-01-29T21:23:41+0000,"In this articleSatellite imagery and data analysis company Planet announced it had signed a $230 million contract on Wednesday, with an anchor customer furthering the rollout of its next-generation Pelican satellites.""It is a momentum-building event. … It's both our biggest deal ever and it's a significant step for us into this satellite services business,"" Planet CEO Will Marshall told CNBC.Planet's deal will see it build Pelican satellites in service to a company in the Asia-Pacific region. Planet said the customer will be identified at a later date, but described the company as a long-standing partner. Marshall said the contract covers ""a couple of years to construct"" the satellites ""and then five years of operation.""""They get dedicated access to the satellites that we're launching for them within their [area of interest] in Asia, and then for the rest of the world, we get to license that data,"" Marshall said.While the deal does not change Planet's previous guidance for its fiscal 2025 fourth-quarter results, the company expects to begin seeing benefits to its balance sheet in fiscal 2026, with payments for building the satellites and providing services to be recognized over about seven years.Planet, which operates more than 200 satellites in orbit, in 2021 unveiled its plans for the more high-powered line of Pelican satellites. Intended to replace the SkySat satellites acquired from Google in 2017, Planet aims to deploy a constellation of as many as 32 Pelican satellites. The company launched its first operational satellite for the constellation, Pelican-2, earlier this month, with the spacecraft notably featuring Nvidia's Jetson edge artificial intelligence platform for improved data processing.""We only had financials to specifically build a subset of [those 32 Pelican satellites], and now we've got the financials to build more, and so we're scaling much faster,"" Marshall said.Shares of Planet rose as much as 14% in trading Wednesday before giving up early gains to end the day 1.65% higher. Planet late Tuesday announced a multiyear contract worth an unspecified amount with the European Space Agency.Additionally, Marshall said the Pelican deal represents Planet's entrance into the satellite services market, effectively selling its spacecraft as an adaptable base to specific customers. It is a market that Planet first dipped into with its Tanager satellite product line, the first of which it built and deployed for the nonprofit group Carbon Mapper.""These customers are often customers we've been working with for years, so they already know and trust our data and our ability to execute. They know we've got a vertically integrated stack of tech, so they know we can deliver satellites in space that work and operate,"" Marshall said.""It's synergistic with our data business,"" he added.Planet went public in 2021 amid the SPAC boom. Similar to other space companies that went public at that time, Planet's stock slid steadily in the years following — with company shares getting hit amid missed revenue targets and workforce layoffs — before bouncing back in 2024.While it lags top-performing space pure-play stocks over the past year, Planet shares have more than doubled over the past 12 months, according to FactSet data.",CNBC,29/01/2025,"['In this articleSatellite imagery and data analysis company Planet announced it had signed a $230 million contract on Wednesday, with an anchor customer furthering the rollout of its next-generation Pelican satellites.', '""It is a momentum-building event. …', 'It\'s both our biggest deal ever and it\'s a significant step for us into this satellite services business,"" Planet CEO Will Marshall told CNBC.Planet\'s deal will see it build Pelican satellites in service to a company in the Asia-Pacific region.', 'Planet said the customer will be identified at a later date, but described the company as a long-standing partner.', 'Marshall said the contract covers ""a couple of years to construct"" the satellites ""and then five years of operation.', '""""They get dedicated access to the satellites that we\'re launching for them within their [area of interest] in Asia, and then for the rest of the world, we get to license that data,"" Marshall said.', ""While the deal does not change Planet's previous guidance for its fiscal 2025 fourth-quarter results, the company expects to begin seeing benefits to its balance sheet in fiscal 2026, with payments for building the satellites and providing services to be recognized over about seven years."", 'Planet, which operates more than 200 satellites in orbit, in 2021 unveiled its plans for the more high-powered line of Pelican satellites.', 'Intended to replace the SkySat satellites acquired from Google in 2017, Planet aims to deploy a constellation of as many as 32 Pelican satellites.', ""The company launched its first operational satellite for the constellation, Pelican-2, earlier this month, with the spacecraft notably featuring Nvidia's Jetson edge artificial intelligence platform for improved data processing."", '""We only had financials to specifically build a subset of [those 32 Pelican satellites], and now we\'ve got the financials to build more, and so we\'re scaling much faster,"" Marshall said.', 'Shares of Planet rose as much as 14% in trading Wednesday before giving up early gains to end the day 1.65% higher.', 'Planet late Tuesday announced a multiyear contract worth an unspecified amount with the European Space Agency.', ""Additionally, Marshall said the Pelican deal represents Planet's entrance into the satellite services market, effectively selling its spacecraft as an adaptable base to specific customers."", 'It is a market that Planet first dipped into with its Tanager satellite product line, the first of which it built and deployed for the nonprofit group Carbon Mapper.', '""These customers are often customers we\'ve been working with for years, so they already know and trust our data and our ability to execute.', 'They know we\'ve got a vertically integrated stack of tech, so they know we can deliver satellites in space that work and operate,"" Marshall said.', '""It\'s synergistic with our data business,"" he added.', 'Planet went public in 2021 amid the SPAC boom.', ""Similar to other space companies that went public at that time, Planet's stock slid steadily in the years following — with company shares getting hit amid missed revenue targets and workforce layoffs — before bouncing back in 2024.While it lags top-performing space pure-play stocks over the past year, Planet shares have more than doubled over the past 12 months, according to FactSet data.""]",0.2290362556712767,"The company launched its first operational satellite for the constellation, Pelican-2, earlier this month, with the spacecraft notably featuring Nvidia's Jetson edge artificial intelligence platform for improved data processing.",,0.7495498731732368,"While the deal does not change Planet's previous guidance for its fiscal 2025 fourth-quarter results, the company expects to begin seeing benefits to its balance sheet in fiscal 2026, with payments for building the satellites and providing services to be recognized over about seven years.","Similar to other space companies that went public at that time, Planet's stock slid steadily in the years following — with company shares getting hit amid missed revenue targets and workforce layoffs — before bouncing back in 2024.While it lags top-performing space pure-play stocks over the past year, Planet shares have more than doubled over the past 12 months, according to FactSet data.",2025-02-02
+Major League Table Tennis signs first media deal with CBS Sports,https://www.cnbc.com/2025/01/29/major-league-table-tennis-signs-first-media-deal-with-cbs-sports-.html,2025-01-29T21:12:55+0000,"Major League Table Tennis is going primetime.The pro table tennis league that got its start in 2023 by software entrepreneur Flint Lane has signed its first-ever national television deal with CBS Sports, the league announced Wednesday. This comes as table tennis has seen a resurgence in popularity and as broadcasters are hungry for sports content.Terms of the deal were not disclosed, but CBS Sports Network will air MLTT matches, exclusive highlights, player profiles and behind-the-scenes features throughout the season beginning Sunday at 8 p.m. ET.""This partnership with CBS Sports is a defining milestone for Major League Table Tennis,"" Lane, founder and commissioner of MLTT, told CNBC. ""It's a testament to the league's energy, talent and growing appeal that captivates audiences. We're excited to bring professional table tennis to millions of homes.""MLTT said it's one of America's fastest-growing sports on digital and social platforms and that its viewership on YouTube grew more than 1,200% from its first season into its second season. MLTT also noted that table tennis is the sixth most popular sport in the world with 850 million fans, according to the World Atlas.MLTT currently has eight teams from cities across the U.S. The teams compete against each other during weekend matches.The league has raised about $10 million in capital, Flint said, with investment from names like David Blitzer, owner of Harris Blitzer Sports & Entertainment, which owns the Washington Commanders and Philadelphia 76ers, and Daryl Morey, president of the Philadelphia 76ers.Former San Antonio Spurs star Manu Ginóbili is a minority team owner in MLTT team the Florida Crocs.""Table tennis is considered a basement sport in America,"" Flint said. ""Throughout Europe, there are professional leagues, but we've never had a professional league in this country, so it gives us more credibility.""Flint said the sport got a boost at the Paris Olympics, where for the first time ever two Americans made it to the round of 16. One of those players, Lily Zhang, plays for MLTT.The sport also got some buzz during the Olympics when Golden State Warriors Star Stephen Curry met the USA Table Tennis team at opening ceremonies and later invited them to sit courtside at a game.While MLTT hasn't yet been approved for sports betting, betting on table tennis gained traction during the coronavirus pandemic when many sports were shuttered. In some states like Oregon, table tennis is one of the top sports for betting due to its fast pace and rapidly changing odds.Flint said now that the league has locked in a television deal, it will focus on selling two expansion teams and increasing the sport's presence at the grassroots level.Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.Correction: This article has been updated to correct the spelling of Lily Zhang's name.",CNBC,29/01/2025,"['Major League Table Tennis is going primetime.', 'The pro table tennis league that got its start in 2023 by software entrepreneur Flint Lane has signed its first-ever national television deal with CBS Sports, the league announced Wednesday.', 'This comes as table tennis has seen a resurgence in popularity and as broadcasters are hungry for sports content.', 'Terms of the deal were not disclosed, but CBS Sports Network will air MLTT matches, exclusive highlights, player profiles and behind-the-scenes features throughout the season beginning Sunday at 8 p.m. ET.""This partnership with CBS Sports is a defining milestone for Major League Table Tennis,"" Lane, founder and commissioner of MLTT, told CNBC. ""', ""It's a testament to the league's energy, talent and growing appeal that captivates audiences."", ""We're excited to bring professional table tennis to millions of homes."", '""MLTT said it\'s one of America\'s fastest-growing sports on digital and social platforms and that its viewership on YouTube grew more than 1,200% from its first season into its second season.', 'MLTT also noted that table tennis is the sixth most popular sport in the world with 850 million fans, according to the World Atlas.', 'MLTT currently has eight teams from cities across the U.S. The teams compete against each other during weekend matches.', 'The league has raised about $10 million in capital, Flint said, with investment from names like David Blitzer, owner of Harris Blitzer Sports & Entertainment, which owns the Washington Commanders and Philadelphia 76ers, and Daryl Morey, president of the Philadelphia 76ers.', 'Former San Antonio Spurs star Manu Ginóbili is a minority team owner in MLTT team the Florida Crocs.', '""Table tennis is considered a basement sport in America,"" Flint said. ""', ""Throughout Europe, there are professional leagues, but we've never had a professional league in this country, so it gives us more credibility."", '""Flint said the sport got a boost at the Paris Olympics, where for the first time ever two Americans made it to the round of 16.', 'One of those players, Lily Zhang, plays for MLTT.The sport also got some buzz during the Olympics when Golden State Warriors Star Stephen Curry met the USA Table Tennis team at opening ceremonies and later invited them to sit courtside at a game.', ""While MLTT hasn't yet been approved for sports betting, betting on table tennis gained traction during the coronavirus pandemic when many sports were shuttered."", 'In some states like Oregon, table tennis is one of the top sports for betting due to its fast pace and rapidly changing odds.', ""Flint said now that the league has locked in a television deal, it will focus on selling two expansion teams and increasing the sport's presence at the grassroots level."", 'Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics.', ""NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.Correction: This article has been updated to correct the spelling of Lily Zhang's name.""]",0.2405824420060003,"It's a testament to the league's energy, talent and growing appeal that captivates audiences.",,0.9819360321218316,"""MLTT said it's one of America's fastest-growing sports on digital and social platforms and that its viewership on YouTube grew more than 1,200% from its first season into its second season.",,2025-02-02
+"FDA approves Vertex’s non-opioid painkiller, first new kind of pain medicine in decades",https://www.cnbc.com/2025/01/30/fda-approves-vertex-non-opioid-painkiller-drug.html,2025-01-31T15:12:11+0000,"In this articleThe Food and Drug Administration on Thursday approved Vertex Pharmaceuticals' non-opioid painkiller pill, a new alternative for pain relief that comes without the risk of addiction. Vertex is now the first drugmaker in decades to gain U.S. approval for a new type of pain medicine. It's a milestone after a long history of mostly unsuccessful efforts to develop painkillers without the destructive dependency of cheap and widely available opioids, which have caused a horrific epidemic of abuse and overdose in the U.S.Vertex's drug, Journavx, is specifically approved for the treatment of moderate to severe acute pain, which is usually caused by injury, surgery, illness, trauma or painful medical procedures and likely eases with time. Around 80 million patients are prescribed a medicine for their moderate to severe acute pain every year in the U.S., according to Vertex. Almost 10% of patients with acute pain who are treated initially with an opioid will go on to have prolonged opioid use, and roughly 85,000 people will develop opioid use disorder annually, Vertex said in a statement.""We have the opportunity to change the paradigm of acute pain management and establish a new standard of care,"" Dr. Reshma Kewalramani, Vertex CEO, said in a statement.Vertex said Journavx will have a list price of $15.50 per 50-milligram pill. Wall Street analysts have said that the medication could become a blockbuster drug if it wins approval from regulators, estimating its annual sales could exceed $1 billion. The experience of pain starts in a nerve ending, and the body detects the pressure and sends a signal to the spinal cord and then the brain. Vertex's treatment works by blocking pain signals at their origin before they reach the brain. That's different from opioids, which act directly on the brain to block pain, triggering the brain's rewards centers in a way that can feed addiction.The approval underscores the ""FDA's commitment to approving safe and effective alternatives to opioids for pain management,"" said Dr. Jacqueline Corrigan-Curay, acting director of the FDA's Center for Drug Evaluation and Research, in a release.Vertex's painkiller was more effective than a placebo at reducing the intensity of pain after 48 hours in two late-stage studies on more than 1,000 patients who had abdominoplasties, also known as ""tummy tucks,"" and roughly another thousand in people who had bunion surgery. Those two procedures are commonly used in studies of people with acute pain.The painkiller, however, failed to meet the secondary goal in both trials of reducing pain when compared with a combination of the opioid drug hydrocodone, which is frequently abused, and acetaminophen, the basis for popular pain medications such as Tylenol.In both trials, rates of adverse side effects were lower in those who received Vertex's drug compared with people who took a placebo. The most commonly reported adverse events among people who received Journavx were itching, muscle spasms and rash, among others, according to the FDA.In a separate phase three study, more than 83% of patients said in a survey that the drug was good, very good or excellent at easing pain. Those people had undergone various surgical or nonsurgical procedures.The bigger opportunity for Vertex may be to win FDA approval in chronic pain. That's an area where the risk of addiction to prescription opioids can be greater, according to the Centers for Disease Control and Prevention. In 2023, the company's painkiller produced positive results in a mid-stage trial in diabetes patients suffering from a chronic nerve condition.",CNBC,31/01/2025,"[""In this articleThe Food and Drug Administration on Thursday approved Vertex Pharmaceuticals' non-opioid painkiller pill, a new alternative for pain relief that comes without the risk of addiction."", 'Vertex is now the first drugmaker in decades to gain U.S. approval for a new type of pain medicine.', ""It's a milestone after a long history of mostly unsuccessful efforts to develop painkillers without the destructive dependency of cheap and widely available opioids, which have caused a horrific epidemic of abuse and overdose in the U.S.Vertex's drug, Journavx, is specifically approved for the treatment of moderate to severe acute pain, which is usually caused by injury, surgery, illness, trauma or painful medical procedures and likely eases with time."", 'Around 80 million patients are prescribed a medicine for their moderate to severe acute pain every year in the U.S., according to Vertex.', 'Almost 10% of patients with acute pain who are treated initially with an opioid will go on to have prolonged opioid use, and roughly 85,000 people will develop opioid use disorder annually, Vertex said in a statement.', '""We have the opportunity to change the paradigm of acute pain management and establish a new standard of care,"" Dr. Reshma Kewalramani, Vertex CEO, said in a statement.', 'Vertex said Journavx will have a list price of $15.50 per 50-milligram pill.', 'Wall Street analysts have said that the medication could become a blockbuster drug if it wins approval from regulators, estimating its annual sales could exceed $1 billion.', 'The experience of pain starts in a nerve ending, and the body detects the pressure and sends a signal to the spinal cord and then the brain.', ""Vertex's treatment works by blocking pain signals at their origin before they reach the brain."", ""That's different from opioids, which act directly on the brain to block pain, triggering the brain's rewards centers in a way that can feed addiction."", 'The approval underscores the ""FDA\'s commitment to approving safe and effective alternatives to opioids for pain management,"" said Dr. Jacqueline Corrigan-Curay, acting director of the FDA\'s Center for Drug Evaluation and Research, in a release.', 'Vertex\'s painkiller was more effective than a placebo at reducing the intensity of pain after 48 hours in two late-stage studies on more than 1,000 patients who had abdominoplasties, also known as ""tummy tucks,"" and roughly another thousand in people who had bunion surgery.', 'Those two procedures are commonly used in studies of people with acute pain.', 'The painkiller, however, failed to meet the secondary goal in both trials of reducing pain when compared with a combination of the opioid drug hydrocodone, which is frequently abused, and acetaminophen, the basis for popular pain medications such as Tylenol.', ""In both trials, rates of adverse side effects were lower in those who received Vertex's drug compared with people who took a placebo."", 'The most commonly reported adverse events among people who received Journavx were itching, muscle spasms and rash, among others, according to the FDA.In a separate phase three study, more than 83% of patients said in a survey that the drug was good, very good or excellent at easing pain.', 'Those people had undergone various surgical or nonsurgical procedures.', 'The bigger opportunity for Vertex may be to win FDA approval in chronic pain.', ""That's an area where the risk of addiction to prescription opioids can be greater, according to the Centers for Disease Control and Prevention."", ""In 2023, the company's painkiller produced positive results in a mid-stage trial in diabetes patients suffering from a chronic nerve condition.""]",-0.0743587404770383,"Wall Street analysts have said that the medication could become a blockbuster drug if it wins approval from regulators, estimating its annual sales could exceed $1 billion.","It's a milestone after a long history of mostly unsuccessful efforts to develop painkillers without the destructive dependency of cheap and widely available opioids, which have caused a horrific epidemic of abuse and overdose in the U.S.Vertex's drug, Journavx, is specifically approved for the treatment of moderate to severe acute pain, which is usually caused by injury, surgery, illness, trauma or painful medical procedures and likely eases with time.",0.6661437253157297,"In 2023, the company's painkiller produced positive results in a mid-stage trial in diabetes patients suffering from a chronic nerve condition.","The painkiller, however, failed to meet the secondary goal in both trials of reducing pain when compared with a combination of the opioid drug hydrocodone, which is frequently abused, and acetaminophen, the basis for popular pain medications such as Tylenol.",2025-02-02
+Boeing CEO upbeat on recovery plan after company's biggest annual loss since 2020,https://www.cnbc.com/2025/01/28/boeing-ba-4q-2024-earnings.html,2025-01-28T21:01:56+0000,"In this articleBoeing CEO Kelly Ortberg on Tuesday said the company is making progress on its recovery, including by focusing on core businesses and increasing production after the plane maker's multiple safety and manufacturing crises drove it to its sixth consecutive annual loss.Ortberg said the company's 737 Max deliveries will likely reach the ""upper 30s"" this month, up from 17 in December.""We're a little ahead of where I expected,"" he told CNBC's ""Squawk on the Street."" He said Boeing will likely turn cash-flow positive in the second half of the year, after burning through more than $14 billion in 2024, and that the company is set up to reach production of 38 Max aircraft a month.Boeing's shares gained 1.5% on Tuesday.Ortberg, a longtime aerospace executive whom Boeing hired out of retirement over the summer, said the company is also focused on fixing the company's culture.The company is expected it to sell off units like its Jeppesen navigation business, which the CEO confirmed is a candidate during an earnings call on Tuesday.""There are some areas where we can streamline the organization or we may be better off of focusing our energy elsewhere and we'll be actioning those over the coming months and year,"" Ortberg said on the call. ""I think if I give you any guidance, think of it as more pruning the portfolio, not cutting down the tree.""Boeing lost $3.86 billion in the last three months of 2024, taking about $3 billion in charges in its commercial aircraft unit and its defense and space business spanning aircraft from the Boeing 767 to the KC-46 tanker to the long-delayed pair of 747s that are set to serve as new Air Force One planes. Revenue was down 31% from the same period last year to $15.2 billion.  Boeing's results were impacted, as expected, by a nearly two-month machinist strike that idled work on most of its aircraft and lengthened delivery delays to customers, which pay for the bulk of their planes when they're received. Boeing said it burned through about $3.5 billion in the fourth quarter, a difficult end to what was supposed to be a turnaround year. The company expects to have a similar cash use in the first quarter.The company last posted a profit in 2018. In addition to the crashes and Covid, it has faced a host of manufacturing defects and cost overruns, and early last year, a near-catastrophic midair blowout of a door panel on a nearly new Max 9 jetliner as it climbed out of Portland, Oregon.The Federal Aviation Administration capped Boeing's production after the accident at 38 per month.""We need to get to 38 and show stability at 38"" with safety and quality criteria, Ortberg said.""Things look encouraging so far,"" he said, adding that it could get to a point where the company could ramp up production to about 42 a month ""sometime toward the end of the year.""Boeing had released preliminary results last week showing a wider loss and lower revenue than analysts expected.The company's annual loss totaled $11.83 billion, its largest since 2020, when it was grappling with a grounding of its bestselling plane, the 737 Max, after two fatal crashes and the Covid-19 pandemic.""While it was a challenging year, we are seeing encouraging signs of progress as we work together to turn around our company,"" Ortberg said in a staff memo.Its defense unit's revenue fell 20% to $5.4 billion for the quarter, and it took $1.7 billion in pretax charges.""While charges for the quarter in BDS are disappointing, we have completed deep dives on all of our challenging fixed-price development programs,"" Ortberg said in the memo. ""We are now more proactive and clear-eyed on the risks.""Ortberg said in the CNBC interview on Tuesday that Boeing is discussing with President Donald Trump's adviser Elon Musk how to deliver the already delayed Air Force One aircraft earlier and reduce costs in the program, which is more than $2 billion over budget. Musk's company SpaceX is also a Boeing competitor.Revenue for the commercial aircraft unit dropped 55% to $4.76 billion.Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:Boeing lost $3.86 billion, or $5.46 per share in the fourth quarter, compared with a loss of $30 million, or a loss of 4 cents a share, in the same period a year ago. Adjusting for impacts of the strike and charges, the company lost $5.90 per share.After the strike ended in November, Boeing resumed production of its 737 Max aircraft in December, and earlier this month, it restarted test flights of its 777X aircraft, which haven't yet been certified by the FAA. Boeing is also working to certify the Max 7 and Max 10 aircraft, the smallest and largest models in the single-aisle Max family.While airline CEOs have largely supported Ortberg, key Boeing customers are still logging the effects of the delivery delays.American Airlines said over the weekend it made further cuts to its schedule because of late deliveries of new Boeing 787 Dreamliners, which it also planned to use to launch a premium-seat-heavy configuration to capitalize on a consumer shift toward pricier, roomier seats.It plans to suspend service between Miami and Paris in June and July, and cut down on frequencies between Dallas Fort Worth International Airport and New York's John F. Kennedy International to London in May, as well as from Dallas to Honolulu in June.""We'll be proactively reaching out to our impacted customers to offer alternate travel arrangements and remain committed to mitigating the impact of these Boeing delays while continuing to offer a comprehensive global network,"" American said in a statement.Meanwhile, the CEO of European budget airline Ryanair, Michael O'Leary, said Monday that the company had to cut its passenger traffic goal for the year because of ""frustrating"" Boeing delivery delays.— CNBC's Phil LeBeau contributed to this report.Correction: Boeing had a loss of $30 million in the fourth quarter a year earlier. An earlier version misstated the figure.",CNBC,28/01/2025,"[""In this articleBoeing CEO Kelly Ortberg on Tuesday said the company is making progress on its recovery, including by focusing on core businesses and increasing production after the plane maker's multiple safety and manufacturing crises drove it to its sixth consecutive annual loss."", 'Ortberg said the company\'s 737 Max deliveries will likely reach the ""upper 30s"" this month, up from 17 in December.', '""We\'re a little ahead of where I expected,"" he told CNBC\'s ""Squawk on the Street.""', 'He said Boeing will likely turn cash-flow positive in the second half of the year, after burning through more than $14 billion in 2024, and that the company is set up to reach production of 38 Max aircraft a month.', ""Boeing's shares gained 1.5% on Tuesday."", ""Ortberg, a longtime aerospace executive whom Boeing hired out of retirement over the summer, said the company is also focused on fixing the company's culture."", 'The company is expected it to sell off units like its Jeppesen navigation business, which the CEO confirmed is a candidate during an earnings call on Tuesday.', '""There are some areas where we can streamline the organization or we may be better off of focusing our energy elsewhere and we\'ll be actioning those over the coming months and year,"" Ortberg said on the call. ""', 'I think if I give you any guidance, think of it as more pruning the portfolio, not cutting down the tree.', '""Boeing lost $3.86 billion in the last three months of 2024, taking about $3 billion in charges in its commercial aircraft unit and its defense and space business spanning aircraft from the Boeing 767 to the KC-46 tanker to the long-delayed pair of 747s that are set to serve as new Air Force One planes.', 'Revenue was down 31% from the same period last year to $15.2 billion.', ""Boeing's results were impacted, as expected, by a nearly two-month machinist strike that idled work on most of its aircraft and lengthened delivery delays to customers, which pay for the bulk of their planes when they're received."", 'Boeing said it burned through about $3.5 billion in the fourth quarter, a difficult end to what was supposed to be a turnaround year.', 'The company expects to have a similar cash use in the first quarter.', 'The company last posted a profit in 2018.', 'In addition to the crashes and Covid, it has faced a host of manufacturing defects and cost overruns, and early last year, a near-catastrophic midair blowout of a door panel on a nearly new Max 9 jetliner as it climbed out of Portland, Oregon.', ""The Federal Aviation Administration capped Boeing's production after the accident at 38 per month."", '""We need to get to 38 and show stability at 38"" with safety and quality criteria, Ortberg said.', '""Things look encouraging so far,"" he said, adding that it could get to a point where the company could ramp up production to about 42 a month ""sometime toward the end of the year.', '""Boeing had released preliminary results last week showing a wider loss and lower revenue than analysts expected.', ""The company's annual loss totaled $11.83 billion, its largest since 2020, when it was grappling with a grounding of its bestselling plane, the 737 Max, after two fatal crashes and the Covid-19 pandemic."", '""While it was a challenging year, we are seeing encouraging signs of progress as we work together to turn around our company,"" Ortberg said in a staff memo.', ""Its defense unit's revenue fell 20% to $5.4 billion for the quarter, and it took $1.7 billion in pretax charges."", '""While charges for the quarter in BDS are disappointing, we have completed deep dives on all of our challenging fixed-price development programs,"" Ortberg said in the memo. ""', 'We are now more proactive and clear-eyed on the risks.', '""Ortberg said in the CNBC interview on Tuesday that Boeing is discussing with President Donald Trump\'s adviser Elon Musk how to deliver the already delayed Air Force One aircraft earlier and reduce costs in the program, which is more than $2 billion over budget.', ""Musk's company SpaceX is also a Boeing competitor."", 'Revenue for the commercial aircraft unit dropped 55% to $4.76 billion.', ""Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:Boeing lost $3.86 billion, or $5.46 per share in the fourth quarter, compared with a loss of $30 million, or a loss of 4 cents a share, in the same period a year ago."", 'Adjusting for impacts of the strike and charges, the company lost $5.90 per share.', ""After the strike ended in November, Boeingresumed production of its 737 Maxaircraft in December, and earlier this month, it restarted test flights of its 777X aircraft, which haven't yet been certified by the FAA.Boeing is also working to certify the Max 7 and Max 10 aircraft, the smallest and largest models in the single-aisle Max family."", 'While airline CEOs have largely supported Ortberg, key Boeing customers are still logging the effects of the delivery delays.', 'American Airlines said over the weekend it made further cuts to its schedule because of late deliveries of new Boeing 787 Dreamliners, which it also planned to use to launch a premium-seat-heavy configuration to capitalize on a consumer shift toward pricier, roomier seats.', ""It plans to suspend service between Miami and Paris in June and July, and cut down on frequencies between Dallas Fort Worth International Airport and New York's John F. Kennedy International to London in May, as well as from Dallas to Honolulu in June."", '""We\'ll be proactively reaching out to our impacted customers to offer alternate travel arrangements and remain committed to mitigating the impact of these Boeing delays while continuing to offer a comprehensive global network,"" American said in a statement.', 'Meanwhile, the CEO of European budget airline Ryanair, Michael O\'Leary, said Monday that the company had to cut its passenger traffic goal for the year because of ""frustrating"" Boeing delivery delays.—', ""CNBC's Phil LeBeau contributed to this report."", 'Correction: Boeing had a loss of $30 million in the fourth quarter a year earlier.', 'An earlier version misstated the figure.']",0.0012488232661778,"""While it was a challenging year, we are seeing encouraging signs of progress as we work together to turn around our company,"" Ortberg said in a staff memo.","In addition to the crashes and Covid, it has faced a host of manufacturing defects and cost overruns, and early last year, a near-catastrophic midair blowout of a door panel on a nearly new Max 9 jetliner as it climbed out of Portland, Oregon.",-0.1403640253203255,"He said Boeing will likely turn cash-flow positive in the second half of the year, after burning through more than $14 billion in 2024, and that the company is set up to reach production of 38 Max aircraft a month.",Revenue was down 31% from the same period last year to $15.2 billion.,2025-02-02
+Trump’s 25% tariffs on Mexico and Canada to challenge the global auto industry,https://www.cnbc.com/2025/01/31/trumps-25percent-tariffs-this-is-whats-at-stake-for-us-auto-industry.html,2025-02-02T01:48:18+0000,"DETROIT — Tariffs announced Saturday by the Trump administration of 25% on goods from Canada and Mexico as well as an additional 10% on products from China are expected to have a profound impact on the global automotive industry.For months, automakers have been taking a ""wait-and-see"" approach to the Trump administration's tariff threat. That waiting period is coming to an end and automakers will likely need to implement prior contingency plans to attempt to offset additional costs in the coming weeks and months.Depending on the details, the tariffs on Mexico could have the greatest impact on the automotive industry, followed by Canada and then China, depending on the automaker.""Any tariff action must be followed with a renegotiation of the [United States-Mexico-Canada Agreement], and a full review of the corporate trade regime that has devastated the American and global working class,"" Shawn Fain, president of the United Auto Workers Union, said in a statement.General Motors and other major automakers did not immediately respond for comment regarding the tariffs Saturday night. Others such as Ford declined to comment, while Honda issued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.""Most major automakers have factories in the U.S. However, they still rely heavily on imports from other countries including Mexico to meet American consumer demand.Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.A tariff is a tax on imports, or foreign goods, brought into the United States. The companies importing the goods pay the tariffs, and some fear the companies would simply pass any additional costs on to consumers — raising the cost of vehicles and potentially reducing demand.The formal announcement provides some clarity for companies but could cost automakers, many of which have produced vehicles without tariffs in Canada and Mexico for decades, billions of dollars.Uncertainty about trade took a toll on GM on Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter. ""Our key take from GM's 4Q [earnings] result is that while the opportunity for GM is highly compelling, US policy uncertainty must be navigated for the time being,"" Barclays analyst Dan Levy said in an investor note Wednesday.GM did not account for potential tariffs in its guidance, which CFO Paul Jacobson described as a ""cautious"" approach given no duties on North American goods had been implemented yet.Both Jacobson and GM CEO Mary Barra said the company has contingency plans for any actions, but that wasn't enough to appease anxious investors.""There's just so much noise,"" Jacobson told investors Tuesday, citing the inauguration and California wildfires, among other issues and events. ""We're being cautious until we get a little bit more smooth data from the marketplace just because January was so noisy.""Tariffs could have a massive effect on the global automotive industry and potentially reduce earnings for companies such as GM, which has significant manufacturing operations across North America.""Regardless of timing, these blanket tariffs would have a massive impact on the auto industry,"" S&P Global Mobility said in a report this week. ""Virtually no [automaker] or supplier"" operating in North America would be immune, according to the report.Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.The industry is deeply integrated between the countries, with Mexico importing 49.4% of all auto parts from the U.S. In turn, Mexico exports 86.9% of its auto parts production to the U.S., according to the International Trade Administration.Wells Fargo estimates that 25% tariffs on Mexico and Canada imports would cost the traditional Detroit automaker billions of dollars a year. The firm estimates the impact of 5%, 10% and 25% tariffs on GM, Ford Motor and Chrysler parent Stellantis would collectively be $13 billion, $25 billion and $56 billion, respectively.S&P Global Mobility, formerly IHS Markit, estimates a 25% duty on a $25,000 vehicle from Canada or Mexico would add $6,250 to its cost — some if not most of which could be passed on to the consumer.S&P Mobility reports plants in Canada and Mexico produce roughly 5.3 million vehicles, with about 70% — nearly 4 million — destined for the U.S.Mexico accounted for a majority of those vehicles, as five automakers — Ford, GM, Stellantis, Toyota Motor and Honda — produced only an estimated 1.3 million light-duty vehicles in 2024 in Canada, largely for the U.S. market, according to a Canadian manufacturing nonprofit research group.Some of those automakers also heavily rely on production in Mexico, but not all producers would face the same disruptions. On a percentage of sales basis, German automaker Volkswagen is the most exposed to tariff risk in Mexico, followed by Nissan Motor and Stellantis, S&P Global Mobility reports.""We are working, obviously, on scenarios,"" Antonio Filosa, head of Stellantis' North American operations, said Jan. 10. ""But yes, we need to await his decisions and after the decision of Mr. Trump and his administration, we will work accordingly.""Here are the automakers that are most exposed to tariffs on vehicles imported from Mexico, based on the percentage of their U.S. sales being produced south of the border:",CNBC,02/02/2025,"['DETROIT —Tariffsannounced Saturday by the Trump administration of 25% on goods from Canada and Mexico as well as an additional 10% on products from China are expected to have a profound impact on the global automotive industry.', 'For months, automakers have been taking a""wait-and-see"" approachto the Trump administration\'s tariff threat.', 'That waiting period is coming to an end and automakers will likely need to implement prior contingency plans to attempt to offset additional costs in the coming weeks and months.', 'Depending on the details, the tariffs on Mexico could have the greatest impact on the automotive industry, followed by Canada and then China, depending on the automaker.', '""Any tariff action must be followed with a renegotiation of the [United States-Mexico-Canada Agreement], and a full review of the corporate trade regime that has devastated the American and global working class,"" Shawn Fain, president of the United Auto Workers Union, said in a statement.', 'General Motors and other major automakers did not immediately respond for comment regarding the tariffs Saturday night.', 'Others such as Ford declined to comment, whileHondaissued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.', '""Most major automakers have factories in the U.S. However, they still rely heavily on imports from other countries including Mexico to meet American consumer demand.', 'Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.A tariff is a tax on imports, or foreign goods, brought into the United States.', 'The companies importing the goods pay the tariffs, and some fear the companies would simply pass any additional costs on to consumers — raising the cost of vehicles and potentially reducing demand.', 'The formal announcement provides some clarity for companies but could cost automakers, many of which have produced vehicles without tariffs in Canada and Mexico for decades, billions of dollars.', ""Uncertainty about tradetook a toll on GMon Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter."", '""Our key take from GM\'s 4Q [earnings] result is that while the opportunity for GM is highly compelling, US policy uncertainty must be navigated for the time being,"" Barclays analyst Dan Levy said in an investor note Wednesday.', 'GM did not account for potential tariffs in its guidance, which CFO Paul Jacobson described as a ""cautious"" approach given no duties on North American goods had been implemented yet.', ""Both Jacobson and GM CEO Mary Barra said the company has contingency plans for any actions, but that wasn't enough to appease anxious investors."", '""There\'s just so much noise,"" Jacobson told investors Tuesday, citing the inauguration and California wildfires, among other issues and events. ""', ""We're being cautious until we get a little bit more smooth data from the marketplace just because January was so noisy."", '""Tariffs could have a massive effect on the global automotive industry and potentially reduce earnings for companies such as GM, which has significant manufacturing operations across North America.', '""Regardless of timing, these blanket tariffs would have a massive impact on the auto industry,"" S&P Global Mobility said in a report this week. ""', 'Virtually no [automaker] or supplier"" operating in North America would be immune, according to the report.', 'Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.The industry is deeply integrated between the countries, with Mexico importing 49.4% of all auto parts from the U.S. In turn, Mexico exports 86.9% of its auto parts production to the U.S., according to the International Trade Administration.', 'Wells Fargo estimates that 25% tariffs on Mexico and Canada imports would cost the traditional Detroit automaker billions of dollars a year.', 'The firm estimates the impact of 5%, 10% and 25% tariffs on GM, Ford Motor and Chrysler parent Stellantis would collectively be $13 billion, $25 billion and $56 billion, respectively.', 'S&P Global Mobility, formerly IHS Markit, estimates a 25% duty on a $25,000 vehicle from Canada or Mexico would add $6,250 to its cost — some if not most of which could be passed on to the consumer.', 'S&P Mobility reports plants in Canada and Mexico produce roughly 5.3 million vehicles, with about 70% — nearly 4 million — destined for the U.S.Mexico accounted for a majority of those vehicles, as five automakers— Ford, GM, Stellantis, Toyota Motor and Honda — produced onlyan estimated 1.3 million light-duty vehicles in 2024 in Canada, largely for the U.S. market, according to a Canadian manufacturing nonprofit research group.', 'Some of those automakers also heavily rely on production in Mexico, but not all producers would face the same disruptions.', 'On a percentage of sales basis, German automaker Volkswagen is the most exposed to tariff risk in Mexico, followed by Nissan Motor and Stellantis, S&P Global Mobility reports.', '""We are working, obviously, on scenarios,"" Antonio Filosa, head of Stellantis\' North American operations, said Jan. 10. ""', 'But yes, we need to await his decisions and after the decision of Mr. Trump and his administration, we will work accordingly.', '""Here are the automakers that are most exposed to tariffs on vehicles imported from Mexico, based on the percentage of their U.S. sales being produced south of the border:']",0.0148970696232496,"Others such as Ford declined to comment, whileHondaissued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.","Uncertainty about tradetook a toll on GMon Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter.",-0.4111230854804699,"Others such as Ford declined to comment, whileHondaissued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.","Uncertainty about tradetook a toll on GMon Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter.",2025-02-02
+Shein ramps up charm offensive as London IPO nears,https://www.cnbc.com/2025/01/31/shein-releases-product-safety-data-ahead-of-london-ipo.html,2025-01-31T18:02:39+0000,"Shein is ramping up its charm offensive again as the fast-fashion giant eyes a public listing in London as soon as this year. The retailer issued a press release on Friday detailing the steps it's taking to keep the items it sells safe. The announcement came about a week after its first product safety recall in the U.S. since 2021. Shein said it conducted more than 2 million product safety tests last year using industry-leading labs such as Bureau Veritas and Intertek, adding that its vendors are required to submit documentation for items like toys, baby products, medical devices and electronics. Shein made the announcement, which included details on its sustainability initiatives and a new nonprofit foundation it set up, as the company looks to win over lawmakers in the U.K. and ease concerns that it's selling unsafe products that are made with forced labor. Last week, Shein recalled more than 300 hair dryer brushes because they posed an electrocution or shock hazard to consumers. The Teckwe Hair Dryer Brush appeared to be a so-called dupe of a similar product sold by Dyson. No injuries were reported and Shein is offering a refund to impacted customers. A spokesperson for Shein told CNBC the company conducted safety tests on products it sells itself and did ""risk-based, randomized testing"" on items sold by third-party vendors on its marketplace before their listing.Product safety testing is common for items that a retailer sells, even if they're online only, because they could be held liable for defects under consumer protection laws in the U.S. On the other hand, a retailer's liability is less clear for third-party sellers on an online marketplace, which makes product testing prior to an item's listing unusual.Shein's decision to conduct product safety tests on items sold by third-party sellers makes it stand out in an industry that has been rife with safety concerns. Typically, online marketplaces just require sellers to conduct their own testing and provide documentation to support it.Shein added in its press release that it terminated more than 260 sellers on its marketplace over the last year for not meeting compliance requirements. Shein's campaign to show it takes product safety and sustainability seriously comes as it prepares to go public in the U.K. — and follows a similar charm offensive in the U.S. before its doomed initial public offering bid there.Earlier this month, U.K. lawmakers criticized attorneys for Shein when they appeared before a British parliamentary hearing and evaded questions about the company's supply chain and whether it sells products made with cotton from China, The Associated Press reported. Shein's general counsel in Europe, Yinan Zhu, repeatedly declined to say whether the company's products contain cotton from Xinjiang and whether the company prohibits suppliers from sourcing raw materials in the region, which has become notorious for its Uyghur detention camps. When asked whether the company believes there is forced labor in Xinjiang, Zhu said it wasn't the company's place to have a ""geopolitical debate"" and repeated a line Shein often uses when grilled on its supply chain, ""We comply with the laws and regulations in the countries that we operate in.""Committee Chairman Liam Byrne said Zhu's refusal to answer questions left lawmakers ""horrified"" and gave them ""zero confidence"" in the integrity of Shein's supply chain.  ""The reluctance to answer basic questions has frankly bordered on contempt,"" Byrne said.Throughout 2023, when Shein was still hoping for a U.S. IPO, it commonly spoke publicly about its cotton supply chain and the tests it had conducted to ensure it wasn't sourcing from banned regions. It even told CNBC it had stopped sourcing cotton from China altogether. Shein did not make similar statements in the parliamentary hearing.",CNBC,31/01/2025,"['Shein is ramping up its charm offensive again as the fast-fashion giant eyes a public listing in London as soon as this year.', ""The retailer issued a press release on Friday detailing the steps it's taking to keep the items it sells safe."", 'The announcement came about a week after its first product safety recall in the U.S. since 2021.Shein said it conducted more than 2 million product safety tests last year using industry-leading labs such as Bureau Veritas and Intertek, adding that its vendors are required to submit documentation for items like toys, baby products, medical devices and electronics.', ""Shein made the announcement, which included details on its sustainability initiatives and a new nonprofit foundation it set up, as the company looks to win over lawmakers in the U.K. and ease concerns that it's selling unsafe products that are made with forced labor."", 'Last week, Shein recalled more than 300 hair dryer brushes because they posed an electrocution or shock hazard to consumers.', 'The Teckwe Hair Dryer Brush appeared to be a so-called dupe of a similar product sold by Dyson.', 'No injuries were reported and Shein is offering a refund to impacted customers.', 'A spokesperson for Shein told CNBC the company conducted safety tests on products it sells itself and did ""risk-based, randomized testing"" on items sold by third-party vendors on its marketplace before their listing.', ""Product safety testing is common for items that a retailer sells, even if they're online only, because they could be held liable for defects under consumer protection laws in the U.S. On the other hand, a retailer's liability is less clear for third-party sellers on an online marketplace, which makes product testing prior to an item's listing unusual."", ""Shein's decision to conduct product safety tests on items sold by third-party sellers makes it stand out in an industry that has been rife with safety concerns."", 'Typically, online marketplaces just require sellers to conduct their own testing and provide documentation to support it.', 'Shein added in its press release that it terminated more than 260 sellers on its marketplace over the last year for not meeting compliance requirements.', ""Shein's campaign to show it takes product safety and sustainability seriously comes as it prepares to go public in the U.K. — and follows a similar charm offensive in the U.S. before its doomed initial public offering bid there."", ""Earlier this month, U.K. lawmakers criticized attorneys for Shein when they appeared before a British parliamentary hearing and evaded questions about the company's supply chain and whether it sells products made with cotton from China, The Associated Press reported."", ""Shein's general counsel in Europe, Yinan Zhu, repeatedly declined to say whether the company's products contain cotton from Xinjiang and whether the company prohibits suppliers from sourcing raw materials in the region, which has become notorious for its Uyghur detention camps."", 'When asked whether the company believes there is forced labor in Xinjiang, Zhu said it wasn\'t the company\'s place to have a ""geopolitical debate"" and repeated a line Shein often uses when grilled on its supply chain, ""We comply with the laws and regulations in the countries that we operate in.', '""Committee Chairman Liam Byrne said Zhu\'s refusal to answer questions left lawmakers ""horrified"" and gave them ""zero confidence"" in the integrity of Shein\'s supply chain.', '""The reluctance to answer basic questions has frankly bordered on contempt,"" Byrne said.', ""Throughout 2023, when Shein was still hoping for a U.S. IPO, it commonly spoke publicly about its cotton supply chain and the tests it had conducted to ensure it wasn't sourcing from banned regions."", 'It even told CNBC it had stopped sourcing cotton from China altogether.', 'Shein did not make similar statements in the parliamentary hearing.']",0.0373540623072744,Shein's decision to conduct product safety tests on items sold by third-party sellers makes it stand out in an industry that has been rife with safety concerns.,"""The reluctance to answer basic questions has frankly bordered on contempt,"" Byrne said.",-0.1423512160778045,"Shein made the announcement, which included details on its sustainability initiatives and a new nonprofit foundation it set up, as the company looks to win over lawmakers in the U.K. and ease concerns that it's selling unsafe products that are made with forced labor.","""Committee Chairman Liam Byrne said Zhu's refusal to answer questions left lawmakers ""horrified"" and gave them ""zero confidence"" in the integrity of Shein's supply chain.",2025-02-02
+Three key takeaways from Robert F. Kennedy Jr.'s Senate confirmation hearing,https://www.cnbc.com/2025/01/29/watch-rfk-jr-senate-confirmation-hearing-for-hhs-secretary.html,2025-01-29T21:27:00+0000,"Robert F. Kennedy Jr., President Donald Trump's controversial pick to lead the Department of Health and Human Services, testified Wednesday before a crucial Senate panel, where he faced questions about vaccine skepticism, his evolving views on abortion and grasp of sprawling federal health programs.Kennedy, 71, appeared first before the Senate Committee on Finance, which will vote on whether his nomination as HHS secretary advances to the full chamber. In the Republican-controlled Senate, Kennedy can lose only three GOP votes if all Democrats oppose him.He will also appear before the Senate Committee on Health, Education, Labor and Pensions for a courtesy hearing Thursday.He sidestepped many of the questions as senators grilled him Wednesday. He also struggled to answer some questions about Medicare and Medicaid, and often said he would defer to Trump on policies in such areas as reproductive rights and prescription drug price negotiations.If confirmed, Kennedy will take the reins of a $1.7 trillion agency that oversees vaccines and other medicines, scientific research, public health infrastructure, pandemic preparedness, food and tobacco products, and government-funded health care for millions of Americans. The heads of the Food and Drug Administration, Centers for Disease Control and Prevention, National Institutes of Health, and Centers for Medicare & Medicaid Services, among other federal health agencies, all report to the HHS secretary.Kennedy has faced criticism from both sides of the aisle. He is a prominent vaccine skeptic, making false claims that they are linked to autism despite decades of studies that debunk that association.Kennedy is also the founder of the nonprofit Children's Health Defense, the most well-funded anti-vaccine organization in the U.S. In a government ethics agreement last week, he said he stopped serving as chairman or chief legal counsel for the organization as of December.Some critics have argued that his work advocating against vaccine use has cost lives and could deter more Americans from getting recommended shots at a time when vaccination rates are declining.A protester in the hearing room shouted when Kennedy denied he was anti-vaccine, accusing him of lying. It sparked applause, briefly interrupting his opening remarks.Shouting again interrupted the hearing as committee ranking member Sen. Ron Wyden, D-Ore., questioned Kennedy about his comments about vaccines. Committee Chair Sen. Mike Crapo, R-Idaho, threatened to recess the hearing if any more protesters disrupted it.Beyond vaccines, Kennedy also previewed how he plans to pursue his broad ""Make America Healthy Again"" platform if confirmed as the nation's top health official. The platform argues that a corrupt alliance of drug and food companies and the federal health agencies that regulate them are making Americans less healthy. Kennedy has long contended that the agencies that HHS oversees need reform or a sweeping overhaul.Kennedy's supporters say some of his stances around food, such as highlighting the risks of food additives and ultra-processed products, have hit on broad appeal among Republicans and some Democrats. But Kennedy on Wednesday said he is not ""the enemy of food producers,"" noting that American farms are ""the bedrock of our culture and national security.""Caroline Kennedy, the nominee's cousin and daughter of former President John F. Kennedy, wrote a letter to senators Tuesday that referred to her cousin as a ""predator"" and urged them not to confirm him.Here are some of the key takeaways from Wednesday's hearing:Kennedy, in his opening remarks before the panel, pushed back on claims that he is anti-vaccine or anti-industry.""I am neither; I am pro-safety,"" Kennedy said. ""I worked for years to raise awareness about the mercury and toxic chemicals in fish, but that didn't make me anti-fish. All of my kids are vaccinated, and I believe vaccines have a critical role in health care.""Kennedy engaged in heated debate with senators over his vaccine views, saying, ""I support the measles vaccine, I support the polio vaccine, I will do nothing as HHS secretary that makes it difficult or discourages people taking"" them.Sen. Ron Wyden, D-Ore., didn't buy that claim, highlighting Kennedy's previous remarks in a book about not viewing measles as a threat. Senators also pointed to Kennedy's misinformation about the safety of the measles, mumps and rubella vaccine that was linked to a severe measles outbreak in Samoa in 2019 that left dozens of children dead. That outbreak came just months after Kennedy visited the island nation. Kennedy denied having anything to do with the deadly outbreak. ""You cannot find a single Samoan that says, 'I didn't get vaccinated because of Bobby Kennedy,'"" he said.When Wyden asked if measles is deadly, Kennedy did not directly answer the question. Kennedy contended again that he was not anti-vaccine.Wyden also pressed Kennedy on his comments in a 2023 podcast in which he said, ""There's no vaccine that is safe and effective."" Kennedy said he has previously clarified those statements and that he would not dissuade Americans from getting certain vaccines.Democrats pressed Kennedy on whether he had reversed his stance on abortion for political expediency and if he would do the same on other issues. ""When was it that you decided to sell out the values you've had your whole life in order to be given power by President Trump?"" Democratic Sen. Maggie Hassan of New Hampshire said, pointing to his previous public support for abortion rights. Kennedy, in response, said ""every abortion is a tragedy"" — a line he repeated at least four times throughout the hearing. When asked about his approach to regulations around the abortion pill mifepristone, Kennedy said Trump ""wants me to look at safety issues."" He added that the president had not yet taken a position on how to regulate it.""Whatever he does, I will implement those policies, and I will work with this committee to make those policies make sense,"" Kennedy said. That's a similar response he had when asked about other abortion policies. There is extensive scientific evidence showing that the pills, which are regulated and approved for use by the FDA, are safe. Kennedy appeared to struggle when Sen. Bill Cassidy, R-La., pressed him on what reforms he would propose for the state-federal Medicaid program, which provides coverage to around 80 million Americans, including many low-income people. Republicans could target Medicaid, which costs the federal government more than $600 billion a year, for funding reductions this year to help pay for tax cuts. At times, Kennedy appeared to confuse Medicaid with Medicare, a federal program that provides coverage to older and disabled Americans. Kennedy described Medicaid as ""fully paid for"" by the federal government. But the program is funded by states as well. He also claimed that many Medicaid enrollees were frustrated by high costs, saying ""premiums are too high. The deductibles are too high."" But the majority of Medicaid enrollees do not pay any premiums or deductibles for their coverage. Federal law bars premiums for the lowest-income Medicaid enrollees. Kennedy only vaguely described efforts to reform Medicaid, saying he supported increasing ""transparency"" and ""accountability.""",CNBC,29/01/2025,"[""Robert F. Kennedy Jr., President Donald Trump's controversial pick to lead the Department of Health and Human Services, testified Wednesday before a crucial Senate panel, where he faced questions about vaccine skepticism, his evolving views on abortion and grasp of sprawling federal health programs."", 'Kennedy, 71, appeared first before the Senate Committee on Finance, which will vote on whether his nomination as HHS secretary advances to the full chamber.', 'In the Republican-controlled Senate, Kennedy can lose only three GOP votes if all Democrats oppose him.', 'He will also appear before the Senate Committee on Health, Education, Labor and Pensions for a courtesy hearing Thursday.', 'He sidestepped many of the questions as senators grilled him Wednesday.', 'He also struggled to answer some questions aboutMedicare and Medicaid, and often said he would defer to Trump on policies in such areas as reproductive rights and prescription drug price negotiations.', 'If confirmed, Kennedy will take the reins of a $1.7 trillion agency that oversees vaccines and other medicines, scientific research, public health infrastructure, pandemic preparedness, food and tobacco products, and government-funded health care for millions of Americans.', 'The heads of the Food and Drug Administration, Centers for Disease Control and Prevention, National Institutes of Health, and Centers for Medicare & Medicaid Services, among other federal health agencies, all report to the HHS secretary.', 'Kennedy has faced criticism from both sides of the aisle.', 'He is a prominent vaccine skeptic, making false claims that they are linked to autism despite decades of studies that debunk that association.', ""Kennedy is also the founder of the nonprofit Children's Health Defense, the most well-funded anti-vaccine organization in the U.S.In a government ethics agreement last week, he said he stopped serving as chairman or chief legal counsel for the organization as of December."", 'Some critics have argued that his work advocating against vaccine use has cost lives and could deter more Americans from getting recommended shots at a time when vaccination rates are declining.', 'A protester in the hearing room shouted when Kennedy denied he was anti-vaccine, accusing him of lying.', 'It sparked applause, briefly interrupting his opening remarks.', 'Shouting again interrupted the hearing as committee ranking member Sen. Ron Wyden, D-Ore., questioned Kennedy about his comments about vaccines.', 'Committee Chair Sen. Mike Crapo, R-Idaho, threatened to recess the hearing if any more protesters disrupted it.', 'Beyond vaccines, Kennedy also previewed how he plans to pursue his broad ""Make America Healthy Again"" platform if confirmed as the nation\'s top health official.', 'The platform argues that a corrupt alliance of drug and food companies and the federal health agencies that regulate them are making Americans less healthy.', 'Kennedy has long contended that the agencies that HHS oversees need reform or a sweeping overhaul.', ""Kennedy's supporters say some of his stances around food, such as highlighting the risks of food additives and ultra-processed products, have hit on broad appeal among Republicans and some Democrats."", 'But Kennedy on Wednesday said he is not ""the enemy of food producers,"" noting that American farms are ""the bedrock of our culture and national security.', '""Caroline Kennedy, the nominee\'s cousin and daughter of former President John F. Kennedy, wrote a letter to senators Tuesday that referred to her cousin as a ""predator"" and urged them not to confirm him.', ""Here are some of the key takeaways from Wednesday's hearing:Kennedy, in his opening remarks before the panel, pushed back on claims that he is anti-vaccine or anti-industry."", '""I am neither; I am pro-safety,"" Kennedy said. ""', ""I worked for years to raise awareness about the mercury and toxic chemicals in fish, but that didn't make me anti-fish."", 'All of my kids are vaccinated, and I believe vaccines have a critical role in health care.', '""Kennedy engaged in heated debate with senators over his vaccine views, saying, ""I support the measles vaccine, I support the polio vaccine, I will do nothing as HHS secretary that makes it difficult or discourages people taking"" them.', ""Sen. Ron Wyden, D-Ore., didn't buy that claim, highlighting Kennedy's previous remarks in a book about not viewing measles as a threat."", ""Senators also pointed to Kennedy's misinformation about the safety of the measles, mumps and rubella vaccine that was linked to a severe measles outbreak in Samoa in 2019 that left dozens of children dead."", 'That outbreak came just months after Kennedy visited the island nation.', 'Kennedy denied having anything to do with the deadly outbreak.', '""You cannot find a single Samoan that says, \'I didn\'t get vaccinated because of Bobby Kennedy,\'"" he said.', 'When Wyden asked if measles is deadly, Kennedy did not directly answer the question.', 'Kennedy contended again that he was not anti-vaccine.', 'Wyden also pressed Kennedy on his comments in a 2023 podcast in which he said, ""There\'s no vaccine that is safe and effective.""', 'Kennedy said he has previously clarified those statements and that he would not dissuade Americans from getting certain vaccines.', 'Democrats pressed Kennedy on whether he had reversed his stance on abortion for political expediency and if he would do the same on other issues.', '""When was it that you decided to sell out the values you\'ve had your whole life in order to be given power by President Trump?""', 'Democratic Sen. Maggie Hassan of New Hampshire said, pointing to his previous public support for abortion rights.', 'Kennedy, in response, said ""every abortion is a tragedy"" — a line he repeated at least four times throughout the hearing.', 'When asked about his approach to regulations around the abortion pill mifepristone, Kennedy said Trump ""wants me to look at safety issues.""', 'He added that the president had not yet taken a position on how to regulate it.', '""Whatever he does, I will implement those policies, and I will work with this committee to make those policies make sense,"" Kennedy said.', ""That's a similar response he had when asked about other abortion policies."", 'There is extensive scientific evidence showing that the pills, which are regulated and approved for use by the FDA, are safe.', 'Kennedy appeared to struggle when Sen. Bill Cassidy, R-La., pressed him on what reforms he would propose for the state-federal Medicaid program, which provides coverage to around 80 million Americans, including many low-income people.', 'Republicans could target Medicaid, which costs the federal government more than $600 billion a year, for funding reductions this year to help pay for tax cuts.', 'At times, Kennedy appeared to confuse Medicaid with Medicare, a federal program that provides coverage to older and disabled Americans.', 'Kennedy described Medicaid as ""fully paid for"" by the federal government.', 'But the program is funded by states as well.', 'He also claimed that many Medicaid enrollees were frustrated by high costs, saying ""premiums are too high.', 'The deductibles are too high.', '""But the majority of Medicaid enrollees do not pay any premiums or deductibles for their coverage.', 'Federal law bars premiums for the lowest-income Medicaid enrollees.', 'Kennedy only vaguely described efforts to reform Medicaid, saying he supported increasing ""transparency"" and ""accountability.""']",-0.0208641574024245,"But Kennedy on Wednesday said he is not ""the enemy of food producers,"" noting that American farms are ""the bedrock of our culture and national security.","A protester in the hearing room shouted when Kennedy denied he was anti-vaccine, accusing him of lying.",-0.7147447629408403,"Kennedy's supporters say some of his stances around food, such as highlighting the risks of food additives and ultra-processed products, have hit on broad appeal among Republicans and some Democrats.",Some critics have argued that his work advocating against vaccine use has cost lives and could deter more Americans from getting recommended shots at a time when vaccination rates are declining.,2025-02-02
+American Airlines CEO says it's not clear why helicopter came into jetliner's flight path,https://www.cnbc.com/2025/01/30/american-airlines-plane-crash-flight-path.html,2025-01-30T19:39:26+0000,"In this articleAmerican Airlines CEO Robert Isom said Thursday morning that the regional jet that collided with a Black Hawk military helicopter near Washington, D.C's Reagan National Airport on Wednesday night was on a standard flight path.The collision between American Eagle Flight 5342 and the helicopter occurred at about 9 p.m. Wednesday. Officials do not expect to find any survivors.""At this time, we don't know why the military aircraft came into the path of the PSA aircraft,"" Isom said at a Thursday morning press conference.Isom said in a staff note Thursday that the National Transportation Safety Board would be the ""sole source of truth going forward, and accuracy is of the utmost importance.""PSA Airlines is an American Airlines subsidiary and one of its regional carriers. American Eagle is how American Airlines brands its regional flights.""It is not standard to have aircraft collide. I'll be clear on that,"" Transportation Secretary Sean Duffy said at the press conference. ""But prior to the collision, the flight paths that were being flown from the military and from American, that was not unusual for what happens in the D.C. airspace.""Isom added that the airline has activated its care team to assist in recovery efforts.""We're absolutely heartbroken for the family and loved ones of the passengers and crew members and also for those that were on the military aircraft. Our focus right now is doing everything that we can to support all of those involved and also the PSA Airlines team,"" he said.The commercial jet was flying from Wichita, Kansas, to Ronald Reagan Washington National Airport and was moments away from landing on the airport runway. Both vehicles crashed into the Potomac River.Isom urged people to call American's designated helpline at 1-800-679-8215 to find information on their loved ones.Isom, who traveled to Washington on Wednesday night, said American's ""go team"" has also been deployed to Washington to provide resources for passengers' and crew members' families and loved ones. Sixty-four people were aboard the flight, including 60 passengers and four crew members.Passengers included American and Russian elite figure skaters, their coaches and family members. U.S. Figure Skating said in a statement that the skaters were returning from a training camp in Wichita.Isom said American is working with local, state and federal authorities on the recovery efforts and that PSA Airlines is cooperating with the National Transportation Safety Board's investigation.""I know that there are many questions at this early stage that I just won't be able to answer, but we'll provide additional information as it comes,"" Isom said.",CNBC,30/01/2025,"[""In this articleAmerican Airlines CEO Robert Isom said Thursday morning that the regional jet that collided with a Black Hawk military helicopter near Washington, D.C's Reagan National Airport on Wednesday night was on a standard flight path."", 'The collision between American Eagle Flight 5342 and the helicopter occurred at about 9 p.m. Wednesday.', 'Officials do not expect to find any survivors.', '""At this time, we don\'t know why the military aircraft came into the path of the PSA aircraft,"" Isom said at a Thursday morning press conference.', 'Isom said in a staff note Thursday that the National Transportation Safety Board would be the ""sole source of truth going forward, and accuracy is of the utmost importance.', '""PSAAirlinesis an American Airlines subsidiary and one of its regional carriers.', 'American Eagle is how American Airlines brands its regional flights.', '""It is not standard to have aircraft collide.', 'I\'ll be clear on that,"" Transportation Secretary Sean Duffy said at the press conference. ""', 'But prior to the collision, the flight paths that were being flown from the military and from American, that was not unusual for what happens in the D.C. airspace.', '""Isom added that the airline has activated its care team to assist in recovery efforts.', '""We\'re absolutely heartbroken for the family and loved ones of the passengers and crew members and also for those that were on the military aircraft.', 'Our focus right now is doing everything that we can to support all of those involved and also the PSA Airlines team,"" he said.', 'The commercial jet was flying from Wichita, Kansas, to Ronald Reagan Washington National Airport and was moments away from landing on the airport runway.', 'Both vehicles crashed into the Potomac River.', ""Isom urged people to call American's designated helpline at 1-800-679-8215 to find information on their loved ones."", 'Isom, who traveled to Washington on Wednesday night, said American\'s ""go team"" has also been deployed to Washington to provide resources for passengers\' and crew members\' families and loved ones.', 'Sixty-four people were aboard the flight, including 60 passengers and four crew members.', 'Passengers included American and Russian elite figure skaters, their coaches and family members.', 'U.S. Figure Skating said in a statement that the skaters were returning from a training camp in Wichita.', ""Isom said American is working with local, state and federal authorities on the recovery efforts and that PSA Airlines is cooperating with the National Transportation Safety Board's investigation."", '""I know that there are many questions at this early stage that I just won\'t be able to answer, but we\'ll provide additional information as it comes,"" Isom said.']",0.1168998218720883,"Isom said in a staff note Thursday that the National Transportation Safety Board would be the ""sole source of truth going forward, and accuracy is of the utmost importance.","But prior to the collision, the flight paths that were being flown from the military and from American, that was not unusual for what happens in the D.C. airspace.",,,,2025-02-02
+American Airlines collision with Army helicopter is worst U.S. air disaster since 2001,https://www.cnbc.com/2025/01/30/american-airlines-helicopter-collision-worst-air-disaster-in-years.html,2025-01-30T22:04:39+0000,"In this articleThe midair collision of a military helicopter and an American Airlines regional jetliner near Washington, D.C.'s Reagan National Airport on Wednesday night brings to an end a streak of commercial air travel safety that was unknown to previous generations.It is the deadliest air disaster on U.S. soil in more than 20 years.Officials said Thursday morning that they were shifting from a recovery effort to a rescue effort and that there were no survivors. Washington's Fire and EMS Chief John Donnelly said 27 bodies have been recovered so far.American Eagle Flight 5342 from Wichita, Kansas, was approaching Ronald Reagan Washington National Airport at an altitude of about 300 feet when a U.S. Army Black Hawk helicopter carrying three people collided with the commercial jetliner.Sixty-four people — 60 passengers and four crew members — were on board the American flight. The flight was operated by American subsidiary carrier PSA Airlines. The plane was a Bombardier CRJ700, a regional jet used for shorter routes.Rescuers had raced to recover passengers from the frigid waters of the Potomac River on Wednesday night, but local officials said conditions were challenging due to high winds.The U.S. has gone years without a fatal commercial airline crash. The last deadly U.S. commercial passenger airline crash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.The crash of that turboprop aircraft prompted federal regulations requiring more rest and training for pilots.The deadliest incident in recent memory was American Airlines Flight 587, an Airbus A300 that crashed in November 2001 shortly after it took off from New York's John F. Kennedy International Airport headed for the Dominican Republic. All 260 people on the flight were killed and five others died on the ground in Queens.Airplane crashes have become extremely rare, which safety experts often chalk up to overlapping and redundant safety measures.""It's extremely safe. Even with this accident I'll say it's extremely safe,"" said Jeff Guzzetti, a retired air safety investigator with the U.S. National Transportation Safety Board and the Federal Aviation Administration. The NTSB will lead an investigation into Wednesday's accident. It will include the FAA, American Airlines, crew members' labor unions and other parties.The NTSB will issue a preliminary report, but a final report that determines the cause or causes of an airplane crash can take months, if not more than a year.Investigators will examine air traffic control recordings, training records, and cockpit voice and data recorders if the black boxes are recovered, along with a host of other factors.The accident presents a challenge to President Donald Trump days into his new term. He has not yet named a candidate to become a permanent head of the Federal Aviation Administration after Biden-appointed Mike Whitaker stepped down Jan. 20, when Trump's term began.The FAA in 2023 laid out a plan designed to improve safety further and eliminate all ""close calls"" at airports.",CNBC,30/01/2025,"[""In this articleThe midair collision of a military helicopter and an American Airlines regional jetliner near Washington, D.C.'s Reagan National Airport on Wednesday night brings to an end a streak of commercial air travel safety that was unknown to previous generations."", 'It is the deadliest air disaster on U.S. soil in more than 20 years.', 'Officials said Thursday morning that they were shifting from a recovery effort to a rescue effort and that there were no survivors.', ""Washington's Fire and EMS Chief John Donnelly said 27 bodies have been recovered so far."", 'American Eagle Flight 5342from Wichita, Kansas, was approaching Ronald Reagan Washington National Airport at an altitude of about 300 feet when a U.S. Army Black Hawk helicopter carrying three people collided with the commercial jetliner.', 'Sixty-four people — 60 passengers and four crew members — were on board the American flight.', 'The flight was operated by American subsidiary carrier PSA Airlines.', 'The plane was a Bombardier CRJ700, a regional jet used for shorter routes.', 'Rescuers had raced to recover passengers from the frigid waters of the Potomac River on Wednesday night, but local officials said conditions were challenging due to high winds.', 'The U.S. has gone years without a fatal commercial airline crash.', 'The last deadly U.S. commercial passengerairlinecrash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.', 'The crash of that turboprop aircraft prompted federal regulations requiring more rest and training for pilots.', ""The deadliest incident in recent memory was American Airlines Flight 587, an Airbus A300 that crashed in November 2001 shortly after it took off from New York's John F. Kennedy International Airport headed for the Dominican Republic."", 'All 260 people on the flight were killed and five others died on the ground in Queens.', 'Airplane crashes have become extremely rare, which safety experts often chalk up to overlapping and redundant safety measures.', '""It\'s extremely safe.', 'Even with this accident I\'ll say it\'s extremely safe,"" said JeffGuzzetti, a retired air safety investigator with the U.S. National Transportation Safety Board and the Federal Aviation Administration.', ""The NTSB will lead an investigation into Wednesday's accident."", ""It will include the FAA, American Airlines, crew members' labor unions and other parties."", 'The NTSB will issue a preliminary report, but a final report that determines the cause or causes of an airplane crash can take months, if not more than a year.', 'Investigators will examine air traffic control recordings, training records, and cockpit voice and data recorders if the black boxes arerecovered, along with a host of other factors.', 'The accident presents a challenge to President Donald Trump days into his new term.', ""He has not yet named a candidate to become a permanent head of the Federal Aviation Administration after Biden-appointed Mike Whitaker stepped down Jan. 20, when Trump's term began."", 'The FAA in 2023 laid out a plan designed to improve safety further and eliminate all ""close calls"" at airports.']",-0.0306561848776776,"The FAA in 2023 laid out a plan designed to improve safety further and eliminate all ""close calls"" at airports.",All 260 people on the flight were killed and five others died on the ground in Queens.,-0.1227345551763262,"Even with this accident I'll say it's extremely safe,"" said JeffGuzzetti, a retired air safety investigator with the U.S. National Transportation Safety Board and the Federal Aviation Administration.","In this articleThe midair collision of a military helicopter and an American Airlines regional jetliner near Washington, D.C.'s Reagan National Airport on Wednesday night brings to an end a streak of commercial air travel safety that was unknown to previous generations.",2025-02-02
+Frontier Airlines proposes merging with bankrupt Spirit — again. Spirit says no,https://www.cnbc.com/2025/01/29/frontier-airlines-proposes-combining-spirit.html,2025-01-29T16:55:57+0000,"In this articleBankrupt Spirit Airlines said it turned down a new merger offer from rival budget carrier Frontier Airlines.Frontier said Wednesday that it has met with Spirit's board and executives since it made its debt-and-stock merger proposal on Jan. 7. Frontier executives said in a email to counterparts at Spirit this week that their plan is better than Spirit's own plan to emerge from bankruptcy.""We continue to believe that under the current standalone plan, Spirit will emerge highly levered, losing money at the operating level, and this would not be a transaction we would pursue,"" wrote Frontier Chairman Bill Franke and CEO Barry Biffle in a Tuesday email to Spirit Chairman Mac Gardner and CEO Ted Christie. ""As a result, time is of the essence.""Christie and Gardner told their Frontier counterparts that they were rejecting the offer, calling the terms ""inadequate and unactionable,"" according to a letter shared in a securities filing on Wednesday.Frontier's new merger plan offered Spirit's debtors $400 million and a 19% stake in Frontier. It also proposed Spirit creditors provide $350 million in new funding, Spirit said.The Spirit executives called Frontier's proposal ""risky and costly, with no certainty as to either timing or outcome"" and ""woefully insufficient financially.""They said, however, that they would consider a sweetened offer.""Should you wish to make a revised proposal that is in fact capable of closing, and addresses the material deficiencies catalogued here and in our many communications, we would be happy to consider it and again work to activate our stakeholders to do so as well,"" they wrote.The two carriers were in talks for a possible combination before Spirit filed for bankruptcy.Frontier and Spirit first announced a deal to merge in 2022, but a higher JetBlue Airways all-cash offer derailed that plan. JetBlue's planned acquisition of Spirit was blocked by a federal judge last year, and Spirit filed for bankruptcy protection in November.In both deals, the airlines argued they needed to combine to better compete against larger rivals.Spirit said it expects to exit Chapter 11 bankruptcy this quarter and has a Feb. 13 court date to finalize its plan, which wipes out debtor shareholders. It has raced to cut costs in recent months, including by slashing some 200 jobs and selling some of its Airbus planes.Budget carriers like Frontier and Spirit have struggled post-pandemic, as costs like salaries have risen and consumers have opted for trips abroad on carriers with options for roomier and more expensive seats. Larger rivals that control much of the U.S. market have also made inroads with basic economy fares, which aim to compete with the bare-bones tickets that were at one time the backbone of Frontier and Spirit.Spirit has also been particularly challenged by a Pratt & Whitney engine recall that grounded dozens of its jets.Both Frontier and Spirit have been working to upend their business models that were marked by low fares and fees for add-ons from seat assignments to cabin baggage.The airlines last year did away with cancellation and change fees for some of their tickets and started bundling perks along with tickets. Frontier last year said it would start offering a premium section at the front of the plane.",CNBC,29/01/2025,"['In this articleBankrupt Spirit Airlines said it turned down a new merger offer from rival budget carrier Frontier Airlines.', ""Frontier said Wednesday that it has met with Spirit's board and executives since it made its debt-and-stock merger proposal on Jan. 7."", ""Frontier executives said in a email to counterparts at Spirit this week that their plan is better than Spirit's own plan to emerge from bankruptcy."", '""We continue to believe that under the current standalone plan, Spirit will emerge highly levered, losing money at the operating level, and this would not be a transaction we would pursue,"" wrote Frontier Chairman Bill Franke and CEO Barry Biffle in a Tuesday email to Spirit Chairman Mac Gardner and CEO Ted Christie. ""', 'Asa result, time is of the essence.', '""Christie and Gardner told their Frontier counterparts that they were rejecting the offer, calling the terms ""inadequate and unactionable,"" according to a letter shared in a securities filing on Wednesday.', ""Frontier's new merger plan offered Spirit's debtors $400 million and a 19% stake in Frontier."", 'It also proposed Spirit creditors provide $350 million in new funding, Spirit said.', 'The Spirit executives called Frontier\'s proposal ""risky and costly, with no certainty as to either timing or outcome"" and ""woefully insufficient financially.', '""They said, however, that they would consider a sweetened offer.', '""Should you wish to make a revised proposal that is in fact capable of closing, and addresses the material deficiencies catalogued here and in our many communications, we would be happy to consider it and again work to activate our stakeholders to do so as well,"" they wrote.', 'The two carriers were in talks for a possible combination before Spirit filed for bankruptcy.', 'Frontier and Spirit first announced a deal to merge in 2022, but a higher JetBlue Airways all-cash offer derailed that plan.', ""JetBlue's planned acquisition of Spirit was blocked by a federal judge last year, and Spirit filed for bankruptcy protection in November."", 'In both deals, the airlines argued they needed to combine to better compete against larger rivals.', 'Spirit said it expects to exit Chapter 11 bankruptcy this quarter and has a Feb. 13 court date to finalize its plan, which wipes out debtor shareholders.', 'It has raced to cut costs in recent months, including by slashing some 200 jobs and selling some of its Airbus planes.', 'Budget carriers like Frontier and Spirit have struggled post-pandemic, as costs like salaries have risen and consumers have opted for trips abroad on carriers with options for roomier and more expensive seats.', 'Larger rivals that control much of the U.S. market have also made inroads with basic economy fares, which aim to compete with the bare-bones tickets that were at one time the backbone of Frontier and Spirit.', 'Spirit has also been particularly challenged by a Pratt & Whitney engine recall that grounded dozens of its jets.', 'Both Frontier and Spirit have been working to upend their business models that were marked by low fares and fees for add-ons from seat assignments to cabin baggage.', 'The airlines last year did away with cancellation and change fees for some of their tickets and started bundling perks along with tickets.', 'Frontier last year said it would start offering a premium section at the front of the plane.']",0.0576550898135412,"""Should you wish to make a revised proposal that is in fact capable of closing, and addresses the material deficiencies catalogued here and in our many communications, we would be happy to consider it and again work to activate our stakeholders to do so as well,"" they wrote.","The Spirit executives called Frontier's proposal ""risky and costly, with no certainty as to either timing or outcome"" and ""woefully insufficient financially.",-0.1617318391799926,"Larger rivals that control much of the U.S. market have also made inroads with basic economy fares, which aim to compete with the bare-bones tickets that were at one time the backbone of Frontier and Spirit.","Budget carriers like Frontier and Spirit have struggled post-pandemic, as costs like salaries have risen and consumers have opted for trips abroad on carriers with options for roomier and more expensive seats.",2025-02-02
+Comcast shifts strategy to mobile as fourth-quarter broadband numbers disappoint,https://www.cnbc.com/2025/01/30/comcast-shifts-strategy-to-mobile-as-broadband-disappoints.html,2025-01-30T21:14:56+0000,"In this articleCable giant Comcast is looking to the wireless business for growth.Comcast executives said Thursday the company will shift its focus to its mobile business after reporting a loss of 139,000 residential broadband customers during the fourth quarter.Broadband has long been the growth engine of the cable industry, especially after the exodus of cable TV customers. Although broadband segment revenue remains stable, Comcast, like its cable peers, has been in the midst of a slowdown in customer growth, which has concerned investors in recent years.Shares of Comcast fell 11% Thursday.Company executives said during Thursday's earnings call with investors that the company will shift its strategy to package mobile with broadband in a bid for more customers.The stagnation stems from a number of factors, primarily the rise of wireless providers such as Verizon and T-Mobile offering home broadband options.""In short, competitive conditions remain intense, dynamic and varied across our footprint and customer segments,"" Comcast President Mike Cavanagh said on Thursday's investor call. ""And we see no signs of this changing in the near term.""In 2022, Comcast and fellow cable giant Charter Communications each reported their first quarterly decline in broadband subscriber growth.Executives have cited reasons such as the slowdown in buying and selling of homes — noting there are fewer people signing up for cable when they get a new home — as well as a drop-off in additions following robust growth at the height of the Covid pandemic, when lockdowns sent Americans home to work and learn.But the rise of fixed wireless offerings from Verizon and T-Mobile has significantly ramped up competition. In December, Comcast Cable CEO Dave Watson called out the dynamic and warned of a fourth-quarter loss of 100,000 customers. Thursday's announcement amounted to deeper-than-projected subscriber losses.The so-called overbuilding of fiber internet has contributed to the competition, as has fixed wireless, a 5G high-speed broadband offering that is an alternative to cable broadband. Comcast in the past has dismissed fixed wireless as ""an inferior product.""On Thursday CFO Jason Armstrong said the expectation is that fixed wireless, and likely satellite companies, will be ""carving out a permanent part of the market."" He also noted cable's increasing broadband speeds as an advantage.In response, Comcast is looking to mobile to both grow and maintain its customer base.""While we are the incumbent in the $80 billion U.S. residential broadband market, we are the challenger in the far larger $200 billion U.S. wireless market,"" said Armstrong. ""Wireless is an integral part of our broadband strategy.""Comcast now counts more than 7.8 million mobile lines, or 12% penetration of its residential broadband customer base, giving it a ""long runway ahead.""Comcast launched Xfinity Mobile in 2017, while Charter started offering mobile in 2018. The two biggest cable companies in the U.S. have touted consistent quarterly gains of mobile lines since then. Smaller operators such as Altice USA and Cox have also added the offering.Comcast and its cable peers' mobile offerings rely on the wireless network of Verizon, as well as customers' home broadband networks and Wi-Fi hotspots. Only broadband customers of Comcast can sign up for mobile service through the company.Cable companies have said their mobile businesses reduce so-called churn, or the loss of customers, and have been key to gaining new subscribers and driving revenue growth.Cavanagh on Thursday said the company would push to simplify its bundles, following the lead of Charter's mobile and broadband offerings. In September, Charter unveiled a series of changes to its plans, including bundles with mobile, with CEO Chris Winfrey telling CNBC the company ""wanted to make a bold statement.""Disclosure: Comcast owns CNBC parent company NBCUniversal.",CNBC,30/01/2025,"['In this articleCable giant Comcast is looking to the wireless business for growth.', 'Comcast executives said Thursday the company will shift its focus to its mobile business after reporting a loss of 139,000 residential broadband customers during the fourth quarter.', 'Broadband has long been the growth engine of the cable industry, especially after the exodus of cable TV customers.', 'Although broadband segment revenue remains stable, Comcast, like its cable peers, has been in the midst of a slowdown in customer growth, which has concerned investors in recent years.', 'Shares of Comcast fell 11% Thursday.', ""Company executives said during Thursday's earnings call with investors that the company will shift its strategy to package mobile with broadband in a bid for more customers."", 'The stagnation stems from a number of factors, primarily the rise of wireless providers such as Verizon and T-Mobile offering home broadband options.', '""In short, competitive conditions remain intense, dynamic and varied across our footprint and customer segments,"" Comcast President Mike Cavanagh said on Thursday\'s investor call. ""', 'And we see no signs of this changing in the near term.', '""In 2022, Comcast and fellow cable giant Charter Communications each reported their first quarterly decline in broadband subscriber growth.', 'Executives have cited reasons such as the slowdown in buying and selling of homes — noting there are fewer people signing up for cable when they get a new home — as well as a drop-off in additions following robust growth at the height of the Covid pandemic, when lockdowns sent Americans home to work and learn.', 'But the rise of fixed wireless offerings from Verizon and T-Mobile has significantly ramped up competition.', 'In December, Comcast Cable CEO Dave Watson called out the dynamic and warned of a fourth-quarter loss of 100,000 customers.', ""Thursday's announcement amounted to deeper-than-projected subscriber losses."", 'The so-called overbuilding of fiber internet has contributed to the competition, as has fixed wireless, a 5G high-speed broadband offering that is an alternative to cable broadband.', 'Comcast in the past has dismissed fixed wireless as ""an inferior product.', '""On Thursday CFO Jason Armstrong said the expectation is that fixed wireless, and likely satellite companies, will be ""carving out a permanent part of the market.""', ""He also noted cable's increasing broadband speeds as an advantage."", 'In response, Comcast is looking to mobile to both grow and maintain its customer base.', '""While we are the incumbent in the $80 billion U.S. residential broadband market, we are the challenger in the far larger $200 billion U.S. wireless market,"" said Armstrong. ""', 'Wireless is an integral part of our broadband strategy.', '""Comcast now counts more than 7.8 million mobile lines, or 12% penetration of its residential broadband customer base, giving it a ""long runway ahead.', '""Comcast launched Xfinity Mobile in 2017, while Charter started offering mobile in 2018.', 'The two biggest cable companies in the U.S. have touted consistent quarterly gains of mobile lines since then.', 'Smaller operators such as Altice USA and Cox have also added the offering.', ""Comcast and its cable peers' mobile offerings rely on the wireless network of Verizon, as well as customers' home broadband networks and Wi-Fi hotspots."", 'Only broadband customers of Comcast can sign up for mobile service through the company.', 'Cable companies have said their mobile businesses reduce so-called churn, or the loss of customers, and have been key to gaining new subscribers and driving revenue growth.', ""Cavanagh on Thursday said the company would push to simplify its bundles, following the lead of Charter's mobile and broadband offerings."", 'In September, Charter unveiled a series of changes to its plans, including bundles with mobile, with CEO Chris Winfrey telling CNBC the company ""wanted to make a bold statement.', '""Disclosure: Comcast owns CNBC parent company NBCUniversal.']",0.1317674428207308,"Although broadband segment revenue remains stable, Comcast, like its cable peers, has been in the midst of a slowdown in customer growth, which has concerned investors in recent years.",Thursday's announcement amounted to deeper-than-projected subscriber losses.,0.0515672689989993,The two biggest cable companies in the U.S. have touted consistent quarterly gains of mobile lines since then.,"""In 2022, Comcast and fellow cable giant Charter Communications each reported their first quarterly decline in broadband subscriber growth.",2025-02-02
+FAA to restrict helicopter traffic around D.C. airport after fatal airplane collision,https://www.cnbc.com/2025/01/31/faa-restricts-airspace-dca-washington-aiport-crash.html,2025-01-31T23:08:54+0000,"In this articleWASHINGTON — The Federal Aviation Administration will restrict helicopter traffic around Ronald Reagan Washington National Airport in Washington, D.C., after the fatal collision of Army Black Hawk helicopter with an American Airlines jetliner earlier this week, Transportation Secretary Sean Duffy said Friday.""Today's decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today's action is a significant step towards restoring that trust.""The restricted area includes Memorial Bridge to South Capitol Street Bridge, excluding the Tidal Basin; Haines Point to Wilson Bridge; and the airspace above the airport, Duffy said in the post.National Transportation Safety Board member Todd Inman said at a briefing Thursday afternoon that helicopters operate in zones, or tracks, in Washington. ""This one was transitioning from track one to four as part of their normal procedure,"" he said. ""If you live in D.C., you see a lot of helicopters going down into this area. So there's a very well-defined system.""American Eagle Flight 5342 was seconds away from landing at Reagan National Airport when it collided with the Army helicopter on Wednesday night. All 64 people on board the plane and all three people on the helicopter died. It was the first deadly commercial airline crash in the U.S. in more than 15 years and the deadliest since 2001.American Airlines CEO Robert Isom said Thursday that it was not clear ""why the military aircraft came into the path"" of its aircraft. On Friday, Isom thanked President Donald Trump ""for his leadership on aviation safety. I applaud him, Secretary Duffy and the Administration for taking quick and decisive action today to restrict helicopter activity around DCA.""Investigators on Friday continued their investigation, looking at aspects such as the altitude of the aircraft, staffing and communication with air traffic controllers.The American Airlines plane, a regional CRJ700 that was arriving from Wichita, Kansas, was flying at about 300 feet on its final approach when it collided with the Black Hawk.According to FAA rules, helicopters, which routinely cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.",CNBC,31/01/2025,"['In this articleWASHINGTON — The Federal Aviation Administration will restrict helicopter traffic around Ronald Reagan Washington National Airportin Washington, D.C., after the fatal collision of Army Black Hawk helicopter with an American Airlines jetliner earlier this week, Transportation Secretary Sean Duffy said Friday.', '""Today\'s decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today\'s action is a significant step towards restoring that trust.', '""The restricted area includes Memorial Bridge to South Capitol Street Bridge, excluding the Tidal Basin; Haines Point to Wilson Bridge; and the airspace above the airport, Duffy said in the post.', 'National Transportation Safety Board member Todd Inman said at a briefing Thursday afternoon that helicopters operate in zones, or tracks, in Washington. ""', 'This one was transitioning from track one to four as part of their normal procedure,"" he said. ""', 'If you live in D.C., you see a lot of helicopters going down into this area.', ""So there's a very well-defined system."", '""American Eagle Flight 5342 was seconds away from landing at Reagan National Airport when it collided with the Army helicopter on Wednesday night.', 'All 64 people on board the plane and all three people on the helicopter died.', 'It was the first deadly commercial airline crash in the U.S. in more than 15 years and the deadliest since 2001.American Airlines CEO Robert Isom said Thursday that it was not clear ""why the military aircraft came into the path"" of its aircraft.', 'On Friday, Isom thanked President Donald Trump""for his leadership on aviation safety.', 'I applaud him, Secretary Duffy and the Administration for taking quick and decisive action today to restrict helicopter activity around DCA.""Investigators on Friday continued their investigation, looking at aspects such as the altitude of the aircraft, staffing and communication with air traffic controllers.', 'The American Airlines plane, a regional CRJ700 that was arriving from Wichita, Kansas, was flying at about 300 feet on its final approach when it collided with the Black Hawk.', 'According to FAA rules, helicopters, which routinely cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.']",0.0261326675356146,"""Today's decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today's action is a significant step towards restoring that trust.","In this articleWASHINGTON — The Federal Aviation Administration will restrict helicopter traffic around Ronald Reagan Washington National Airportin Washington, D.C., after the fatal collision of Army Black Hawk helicopter with an American Airlines jetliner earlier this week, Transportation Secretary Sean Duffy said Friday.",0.412668228149414,"""Today's decision will immediately help secure the airspace near Reagan Airport, ensuring the safety of airplane and helicopter traffic,"" Duffy said in a post on social media site X. ""The American people deserve full confidence in our aviation system and today's action is a significant step towards restoring that trust.","It was the first deadly commercial airline crash in the U.S. in more than 15 years and the deadliest since 2001.American Airlines CEO Robert Isom said Thursday that it was not clear ""why the military aircraft came into the path"" of its aircraft.",2025-02-01
+"Crash investigators looking at altitude, communication and staffing before helicopter collision with plane",https://www.cnbc.com/2025/01/31/american-airlines-helicopter-crash.html,2025-02-01T00:06:18+0000,"WASHINGTON — How an Army Black Hawk helicopter collided with American Airlines jetliner in a deadly crash over the Potomac River on Wednesday night is still unknown, but key questions are emerging, including about the altitude of the military helicopter.Crash investigators recovered a flight recorder from the Sikorsky H-60 helicopter, adding to evidence they will comb through, which already includes interviews with air traffic controllers, including the one on duty at the time of the crash, and the two recorders from the airplane, National Transportation Safety Board member Todd Inman said Friday.Barges are en route to lift the large pieces of the CRJ-700 from the Potomac River on Saturday, Inman said at a briefing.All 64 people on American Flight 5342 and the three aboard the helicopter were killed in the fireball collision near the Washington, D.C.'s Reagan National Airport, marking the deadliest U.S. air crash since 2001.Forty-one bodies have been recovered from the crash site, Fire and EMS Chief John Donnelly said at a press conference Friday. Of those, 28 have been positively identified.""We have in aviation what's called a 'Swiss cheese approach,' wherein if something fails, a backup should catch it, multiple layers of redundancy,"" Inman said. ""It's been a very long time since we've had a major aviation incident in the United States and that's why it's one of the safest forms of transportation in the country.""The PSA Airlines Bombardier CRJ-700 aircraft was flying at about 300 feet on final approach into Reagan National's Runway 33 shortly before 9 p.m. ET on Wednesday when it collided with the Black Hawk helicopter.PSA Airlines is one of American's subsidiaries that flies regional routes, flights marketed as American Eagle.Defense Secretary Pete Hegseth said the helicopter was on an annual proficiency training flight.According to Federal Aviation Administration rules, helicopters, which regularly cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.""In D.C., it's kind of a unique environment,"" Inman said at a briefing Thursday. He noted that there are helicopter zones, or tracks, in Washington. ""This one was transitioning from track one to four as part of their normal procedure. If you live in D.C., you see a lot of helicopters going down into this area. So there's a very well-defined system.""The FAA will restrict helicopter traffic around the Reagan National Airport area, with some exceptions for medical evacuation and law enforcement operations, Secretary of Transportation Sean Duffy said on X Friday.The airspace is some of the most congested in the country and Reagan National says its main runway is the busiest in the U.S.While the investigation is ongoing, two out of three runways are closed at the airport because of their proximity to the crash area. Terry Liercke, vice president and airport manager, told the press Friday that he expects those closures could last for about a week.Officials at the airport said more than 100 flights had been canceled Friday, citing the runway closures and bad weather.""As you turn to align with the runway, your concentration is on the flight path to get on the runway quickly and get the airplane stopped,"" said John Cox, a retired airline pilot and aviation safety consultant.The NTSB is leading the investigation into the collision that ended in a fireball. The agency said it is still gathering information and that it is too early to draw conclusions.""It's not that we don't have information. We do have information,"" said NTSB Chair Jennifer Homendy. ""We have substantial amounts of information. We need to verify information. We need to take our time to make sure it is accurate.""The NTSB also recovered flight data and cockpit voice recorders from the passenger jet. The boxes were taken to NTSB labs for evaluation, the agency said.President Donald Trump on Friday wrote on Truth Social that the helicopter ""was flying too high, by a lot. It was far above the 200 foot limit. That's not really too complicated to understand, is it???""Hegseth made a similar statement at a White House briefing Thursday.""Tragically, last night a mistake was made,"" he said. ""There was some sort of an elevation issue that we have immediately begun investigating at the DoD and Army level.""Both statements were unusual in the wake of a crash and the early stages of an airline accident investigation.The accident ends a decade-and-a-half period of air safety in the U.S., which hasn't seen a fatal commercial crash since 2009, even though passenger traffic has increased by more than 35% to records. That crash prompted a host of stricter pilot training and rest standards.Shortages of air traffic controllers has been a concern for years, and a spate of close calls at U.S. airports have drawn scrutiny from lawmakers and regulators.Staffing at Reagan National the night of the crash wasn't normal for the amount of traffic and time of day on the night of the crash, according to a preliminary FAA safety report on the collision, NBC News reported on Thursday.Citing a source, NBC said the airport tower usually has a controller who focuses on helicopter traffic, though FAA guidelines allow for that position to be combined with another controller's position, so one controller controls both airplanes and helicopters. The FAA didn't respond to a request for comment on the report.NBC News reported on Friday, citing a source familiar with the investigation that a supervisor at the Reagan National tower let a controller leave their shift early. Inman said on Friday that investigators will look back at air traffic controllers' past 72 hours or even weeks.""We'll look at their training, their hiring, everything, what they probably ate that day,"" he said. ""But it is not one point that tells us everything. It's layered into a lot of other information that's very critical.""",CNBC,01/02/2025,"['WASHINGTON — How an Army Black Hawk helicopter collided with American Airlines jetliner in a deadly crash over the Potomac River on Wednesday night is still unknown, but key questions are emerging, including about the altitude of the military helicopter.', 'Crash investigators recovered a flight recorder from the Sikorsky H-60 helicopter, adding to evidence they will comb through, which already includes interviews with air traffic controllers, including the one on duty at the time of the crash, and the two recorders from the airplane, National Transportation Safety Board member Todd Inman said Friday.', 'Barges are en route to lift the large pieces of the CRJ-700 from the Potomac River on Saturday, Inman said at a briefing.', ""All64 people on American Flight 5342 and the three aboard the helicopter were killed in the fireball collisionnear the Washington, D.C.'s Reagan National Airport, marking the deadliest U.S. air crash since 2001.Forty-one bodies have been recovered from the crash site, Fireand EMS Chief JohnDonnelly said at a press conference Friday."", 'Of those, 28 have been positively identified.', '""We have in aviation what\'s called a \'Swiss cheese approach,\' wherein if something fails, a backup should catch it, multiple layers of redundancy,"" Inman said. ""', ""It's been a very long time since we've had a major aviation incident in the United States and that's why it's one of the safest forms of transportation in the country."", '""The PSA Airlines Bombardier CRJ-700 aircraft was flying at about 300 feet on final approach into Reagan National\'s Runway 33 shortly before 9 p.m. ET on Wednesday when it collided with the Black Hawk helicopter.', ""PSA Airlines is one of American's subsidiaries that flies regional routes, flights marketed as American Eagle."", 'Defense Secretary Pete Hegseth said the helicopter was on an annual proficiency training flight.', 'According to Federal Aviation Administration rules, helicopters, which regularly cross through and around Washington, between military bases, the Pentagon and other locations, must fly in the area close to the airport at a maximum of 200 feet.', '""In D.C., it\'s kind of a unique environment,"" Inman said at a briefing Thursday.', 'He noted that there are helicopter zones, or tracks, in Washington. ""', 'This one was transitioning from track one to four as part of their normal procedure.', 'If you live in D.C., you see a lot of helicopters going down into this area.', ""So there's a very well-defined system."", '""The FAA will restrict helicopter traffic around the Reagan National Airport area, with some exceptions for medical evacuation and law enforcement operations, Secretary of Transportation Sean Duffy said on X Friday.', 'The airspace is some of the most congested in the country and Reagan National says its main runway is the busiest in the U.S.While the investigation is ongoing, two out of three runways are closed at the airport because of their proximity to the crash area.', 'Terry Liercke, vice president and airport manager, told the press Friday that he expects those closures could last for about a week.', 'Officials at the airport said more than 100 flights had been canceled Friday, citing the runway closures and bad weather.', '""As you turn to align with the runway, your concentration is on the flight path to get on the runway quickly and get theairplanestopped,"" said John Cox, a retired airline pilot and aviation safety consultant.', 'The NTSB is leading the investigation into the collision that ended in a fireball.', 'The agency said it is still gathering information and that it is too early to draw conclusions.', '""It\'s not that we don\'t have information.', 'We do have information,"" said NTSB Chair Jennifer Homendy. ""', 'We have substantial amounts of information.', 'We need to verify information.', 'We need to take our time to make sure it is accurate.', '""The NTSB also recovered flight data and cockpit voice recorders from the passenger jet.', 'The boxes were taken to NTSB labs for evaluation, the agency said.', 'President Donald Trump on Friday wrote on Truth Social that the helicopter ""was flying too high, by a lot.', 'It was far above the 200 foot limit.', 'That\'s not really too complicated to understand, is it???""Hegseth made a similar statement at a White House briefing Thursday.', '""Tragically, last night a mistake was made,"" he said. ""', 'There was some sort of an elevation issue that we have immediately begun investigating at the DoD and Army level.', '""Both statements were unusual in the wake of a crash and the early stages of an airline accident investigation.', ""The accident ends adecade-and-a-halfperiod of air safety in the U.S., which hasn't seen a fatal commercial crash since 2009, even though passenger traffic has increased by more than 35% to records."", 'That crash prompted a host of stricter pilot training and rest standards.', 'Shortages of air traffic controllers has been a concern for years, and a spate of close calls at U.S. airports have drawn scrutiny from lawmakers and regulators.', ""Staffing at Reagan National the night of the crash wasn't normal for the amount of traffic and time of day on the night of the crash, according to a preliminary FAA safety report on the collision, NBCNewsreported on Thursday."", ""Citing a source, NBC said the airport tower usually has a controller who focuses on helicopter traffic, though FAA guidelines allow for that position to be combined with another controller's position, so one controller controls both airplanes and helicopters."", ""The FAA didn't respond to a request for comment on the report."", 'NBC News reported on Friday, citing a source familiar with the investigation that a supervisor at the Reagan National tower let a controller leave their shift early.', ""Inman said on Friday that investigators will look back at air traffic controllers' past 72 hours or even weeks."", '""We\'ll look at their training, their hiring, everything, what they probably ate that day,"" he said. ""', 'But it is not one point that tells us everything.', 'It\'s layered into a lot of other information that\'s very critical.""']",-0.0765052939363805,It's been a very long time since we've had a major aviation incident in the United States and that's why it's one of the safest forms of transportation in the country.,"All64 people on American Flight 5342 and the three aboard the helicopter were killed in the fireball collisionnear the Washington, D.C.'s Reagan National Airport, marking the deadliest U.S. air crash since 2001.Forty-one bodies have been recovered from the crash site, Fireand EMS Chief JohnDonnelly said at a press conference Friday.",-0.5827317635218302,"The accident ends adecade-and-a-halfperiod of air safety in the U.S., which hasn't seen a fatal commercial crash since 2009, even though passenger traffic has increased by more than 35% to records.","Shortages of air traffic controllers has been a concern for years, and a spate of close calls at U.S. airports have drawn scrutiny from lawmakers and regulators.",2025-02-01
+Here's what Trump’s tariff threats look like on the ground in China,https://www.cnbc.com/2025/01/31/trump-china-tariffs-manufacturers-prepare-for-higher-costs.html,2025-01-31T19:12:00+0000,"As President Donald Trump threatens to impose his first tranche of tariffs on the world Saturday, Chinese manufacturers are bracing for impact.Though Trump is proposing his biggest initial swing at Canada and Mexico with a proposed 25% tariff, the U.S. president still has China on his radar. After a report that the administration could delay at least some of the duties until March 1, the White House said Friday that Trump will follow through on plans to slap 10% tariffs on imports from China on Saturday. On the campaign trail, he threatened tariffs on Chinese-made goods of 60% or more.Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations. Even so, if Trump imposes the levies, they could raise prices for U.S. consumers on everything from furniture to electronics.In China, new duties could damage exporters who rely on the U.S. market. On a recent trip to the manufacturing belt of Guangdong province, CNBC found factory owners preparing for the tariff threat. Here are three main takeaways:Hoping to beat Trump's tariffs, furniture seller Harry Li is doubling the number of products he ships to the U.S. and stockpiling them in warehouses there.He expects the strategy will force him to raise prices as much as 10% -- no matter what Trump's tariffs turn out to be. He sells four out of five of his tables and other large furnishings to American consumers.""I have to ship them in advance and take on more risk,"" he said at his Foshan factory. His company Tianyiled plans to keep the extra inventory in the U.S. until Trump's tariff plan for China becomes clearer.In addition to stockpiling, Li is considering other ways to avoid the border taxes.""One thing we can do is to pick those products not on the tariff list and export them to the U.S. instead,"" he said. In the nearby industrial city of Guangzhou, water purifier maker Zheng Yu is scouring the globe to find a new production base to supply the U.S. outside of China.He plans to set up assembly lines in a third country, buying some equipment and components from China while hiring locally for certain jobs. Zheng's company Tesran is considering Vietnam, Malaysia, and Mexico as manufacturing bases, but is leaning toward Dubai even though costs will be 30% higher than in China.""The domestic market is too competitive. We have been wanting to jump out of it for some time,"" he said. ""Trump's tariffs gave us the final push.""The Tesran founder is also already in touch with his U.S. clients to discuss splitting the tariffs. He is hoping his partners will take on at least half of the cost.All the businesses CNBC spoke to had a breaking point at which it would no longer make sense to sell to the U.S. The tariff thresholds ranged from 20 to 60%, and depended on the industry and the size of a company's margins.Water purifier maker Zheng said another wild card is whether President Trump unleashes proposed universal tariffs that, in his case, would raise costs for Dubai. ""Then the U.S. is out,"" he said.Across Guangzhou, Leng Rong, who makes skin care products, is worried he might have to stop exporting to the U.S. completely.His goods got hit with tariffs north of 20% during Trump's first term and it caused big losses for his company, Keni.With his thin margins, Leng is hoping he can pass the cost of any tariff to his customers.""In the past, we all felt the U.S. market was the greatest market that everyone wanted to sell to. But with all the uncertainties and unfriendly decisions, the U.S. is less attractive now,"" Leng said at his Guangzhou factory. ""It's a real pity.""",CNBC,31/01/2025,"['As President Donald Trump threatens to impose his first tranche of tariffs on the world Saturday, Chinese manufacturers are bracing for impact.', 'Though Trump is proposing his biggest initial swing at Canada and Mexico with a proposed 25% tariff, the U.S. president still has China on his radar.', 'After a report that the administration could delay at least some of the duties until March 1, the White House said Friday that Trump will follow through on plans to slap 10% tariffs on imports from China on Saturday.', 'On the campaign trail, he threatened tariffs on Chinese-made goods of 60% or more.', 'Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations.', 'Even so, if Trump imposes the levies, they could raise prices for U.S. consumers on everything from furniture to electronics.', 'In China, new duties could damage exporters who rely on the U.S. market.', 'On a recent trip to the manufacturing belt of Guangdong province, CNBC found factory owners preparing for the tariff threat.', ""Here are three main takeaways:Hoping to beat Trump's tariffs, furniture seller Harry Li is doubling the number of products he ships to the U.S. and stockpiling them in warehouses there."", ""He expects the strategy will force him to raise prices as much as 10% -- no matter what Trump's tariffs turn out to be."", 'He sells four out of five of his tables and other large furnishings to American consumers.', '""I have to ship them in advance and take on more risk,"" he said at his Foshan factory.', ""His company Tianyiled plans to keep the extra inventory in the U.S. until Trump's tariff plan for China becomes clearer."", 'In addition to stockpiling, Li is considering other ways to avoid the border taxes.', '""One thing we can do is to pick those products not on the tariff list and export them to the U.S.instead,"" he said.', 'In the nearby industrial city of Guangzhou, water purifier maker Zheng Yu is scouring the globe to find a new production base to supply the U.S. outside of China.', 'He plans to set up assembly lines in a third country, buying some equipment and components from China while hiring locally for certain jobs.', ""Zheng's company Tesran is considering Vietnam, Malaysia, and Mexico as manufacturing bases, but is leaning toward Dubai even though costs will be 30% higher than in China."", '""The domestic market is too competitive.', 'We have been wanting to jump out of it for some time,"" he said. ""', ""Trump's tariffs gave us the final push."", '""The Tesran founder is also already in touch with his U.S. clients to discuss splitting the tariffs.', 'He is hoping his partners will take on at least half of the cost.', ""All the businesses CNBC spoke to had a breaking point at which it would no longer make sense to sell to the U.S. The tariff thresholds ranged from 20 to 60%, and depended on the industry and the size of a company's margins."", 'Water purifier maker Zheng said another wild card is whether President Trump unleashes proposed universal tariffs that, in his case, would raise costs for Dubai.', '""Then the U.S. is out,"" he said.', 'Across Guangzhou, Leng Rong, who makes skin care products, is worried he might have to stop exporting to the U.S. completely.', ""His goods got hit with tariffs north of 20% during Trump's first term and it causedbig losses forhis company, Keni."", 'With his thin margins, Leng is hoping he can pass the cost of any tariff to his customers.', '""In the past, we all felt the U.S. market was the greatest market that everyone wanted to sell to.', 'But with all the uncertainties and unfriendly decisions, the U.S. is less attractive now,"" Leng said at his Guangzhou factory. ""', 'It\'s a real pity.""']",-0.0509247328446116,"Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations.","As President Donald Trump threatens to impose his first tranche of tariffs on the world Saturday, Chinese manufacturers are bracing for impact.",-0.3858421146869659,"Trump has contended tariffs boost U.S. manufacturing and job growth, and early in his second term has used the threats to gain leverage in policy negotiations.","His goods got hit with tariffs north of 20% during Trump's first term and it causedbig losses forhis company, Keni.",2025-02-01
+Trump’s 25% tariffs on Mexico and Canada to challenge the global auto industry,https://www.cnbc.com/2025/01/31/trumps-25percent-tariffs-this-is-whats-at-stake-for-us-auto-industry.html,2025-02-02T01:48:18+0000,"DETROIT — Tariffs announced Saturday by the Trump administration of 25% on goods from Canada and Mexico as well as an additional 10% on products from China are expected to have a profound impact on the global automotive industry.For months, automakers have been taking a ""wait-and-see"" approach to the Trump administration's tariff threat. That waiting period is coming to an end and automakers will likely need to implement prior contingency plans to attempt to offset additional costs in the coming weeks and months.Depending on the details, the tariffs on Mexico could have the greatest impact on the automotive industry, followed by Canada and then China, depending on the automaker.""Any tariff action must be followed with a renegotiation of the [United States-Mexico-Canada Agreement], and a full review of the corporate trade regime that has devastated the American and global working class,"" Shawn Fain, president of the United Auto Workers Union, said in a statement.General Motors and other major automakers did not immediately respond for comment regarding the tariffs Saturday night. Others such as Ford declined to comment, while Honda issued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.""Most major automakers have factories in the U.S. However, they still rely heavily on imports from other countries including Mexico to meet American consumer demand.Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.A tariff is a tax on imports, or foreign goods, brought into the United States. The companies importing the goods pay the tariffs, and some fear the companies would simply pass any additional costs on to consumers — raising the cost of vehicles and potentially reducing demand.The formal announcement provides some clarity for companies but could cost automakers, many of which have produced vehicles without tariffs in Canada and Mexico for decades, billions of dollars.Uncertainty about trade took a toll on GM on Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter. ""Our key take from GM's 4Q [earnings] result is that while the opportunity for GM is highly compelling, US policy uncertainty must be navigated for the time being,"" Barclays analyst Dan Levy said in an investor note Wednesday.GM did not account for potential tariffs in its guidance, which CFO Paul Jacobson described as a ""cautious"" approach given no duties on North American goods had been implemented yet.Both Jacobson and GM CEO Mary Barra said the company has contingency plans for any actions, but that wasn't enough to appease anxious investors.""There's just so much noise,"" Jacobson told investors Tuesday, citing the inauguration and California wildfires, among other issues and events. ""We're being cautious until we get a little bit more smooth data from the marketplace just because January was so noisy.""Tariffs could have a massive effect on the global automotive industry and potentially reduce earnings for companies such as GM, which has significant manufacturing operations across North America.""Regardless of timing, these blanket tariffs would have a massive impact on the auto industry,"" S&P Global Mobility said in a report this week. ""Virtually no [automaker] or supplier"" operating in North America would be immune, according to the report.Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.The industry is deeply integrated between the countries, with Mexico importing 49.4% of all auto parts from the U.S. In turn, Mexico exports 86.9% of its auto parts production to the U.S., according to the International Trade Administration.Wells Fargo estimates that 25% tariffs on Mexico and Canada imports would cost the traditional Detroit automaker billions of dollars a year. The firm estimates the impact of 5%, 10% and 25% tariffs on GM, Ford Motor and Chrysler parent Stellantis would collectively be $13 billion, $25 billion and $56 billion, respectively.S&P Global Mobility, formerly IHS Markit, estimates a 25% duty on a $25,000 vehicle from Canada or Mexico would add $6,250 to its cost — some if not most of which could be passed on to the consumer.S&P Mobility reports plants in Canada and Mexico produce roughly 5.3 million vehicles, with about 70% — nearly 4 million — destined for the U.S.Mexico accounted for a majority of those vehicles, as five automakers — Ford, GM, Stellantis, Toyota Motor and Honda — produced only an estimated 1.3 million light-duty vehicles in 2024 in Canada, largely for the U.S. market, according to a Canadian manufacturing nonprofit research group.Some of those automakers also heavily rely on production in Mexico, but not all producers would face the same disruptions. On a percentage of sales basis, German automaker Volkswagen is the most exposed to tariff risk in Mexico, followed by Nissan Motor and Stellantis, S&P Global Mobility reports.""We are working, obviously, on scenarios,"" Antonio Filosa, head of Stellantis' North American operations, said Jan. 10. ""But yes, we need to await his decisions and after the decision of Mr. Trump and his administration, we will work accordingly.""Here are the automakers that are most exposed to tariffs on vehicles imported from Mexico, based on the percentage of their U.S. sales being produced south of the border:",CNBC,02/02/2025,"['DETROIT —Tariffsannounced Saturday by the Trump administration of 25% on goods from Canada and Mexico as well as an additional 10% on products from China are expected to have a profound impact on the global automotive industry.', 'For months, automakers have been taking a""wait-and-see"" approachto the Trump administration\'s tariff threat.', 'That waiting period is coming to an end and automakers will likely need to implement prior contingency plans to attempt to offset additional costs in the coming weeks and months.', 'Depending on the details, the tariffs on Mexico could have the greatest impact on the automotive industry, followed by Canada and then China, depending on the automaker.', '""Any tariff action must be followed with a renegotiation of the [United States-Mexico-Canada Agreement], and a full review of the corporate trade regime that has devastated the American and global working class,"" Shawn Fain, president of the United Auto Workers Union, said in a statement.', 'General Motors and other major automakers did not immediately respond for comment regarding the tariffs Saturday night.', 'Others such as Ford declined to comment, whileHondaissued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.', '""Most major automakers have factories in the U.S. However, they still rely heavily on imports from other countries including Mexico to meet American consumer demand.', 'Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.A tariff is a tax on imports, or foreign goods, brought into the United States.', 'The companies importing the goods pay the tariffs, and some fear the companies would simply pass any additional costs on to consumers — raising the cost of vehicles and potentially reducing demand.', 'The formal announcement provides some clarity for companies but could cost automakers, many of which have produced vehicles without tariffs in Canada and Mexico for decades, billions of dollars.', ""Uncertainty about tradetook a toll on GMon Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter."", '""Our key take from GM\'s 4Q [earnings] result is that while the opportunity for GM is highly compelling, US policy uncertainty must be navigated for the time being,"" Barclays analyst Dan Levy said in an investor note Wednesday.', 'GM did not account for potential tariffs in its guidance, which CFO Paul Jacobson described as a ""cautious"" approach given no duties on North American goods had been implemented yet.', ""Both Jacobson and GM CEO Mary Barra said the company has contingency plans for any actions, but that wasn't enough to appease anxious investors."", '""There\'s just so much noise,"" Jacobson told investors Tuesday, citing the inauguration and California wildfires, among other issues and events. ""', ""We're being cautious until we get a little bit more smooth data from the marketplace just because January was so noisy."", '""Tariffs could have a massive effect on the global automotive industry and potentially reduce earnings for companies such as GM, which has significant manufacturing operations across North America.', '""Regardless of timing, these blanket tariffs would have a massive impact on the auto industry,"" S&P Global Mobility said in a report this week. ""', 'Virtually no [automaker] or supplier"" operating in North America would be immune, according to the report.', 'Nearly every major automaker operating in the U.S. has at least one plant in Mexico, including the six top-selling automakers, which accounted for more than 70% of U.S. sales in 2024.The industry is deeply integrated between the countries, with Mexico importing 49.4% of all auto parts from the U.S. In turn, Mexico exports 86.9% of its auto parts production to the U.S., according to the International Trade Administration.', 'Wells Fargo estimates that 25% tariffs on Mexico and Canada imports would cost the traditional Detroit automaker billions of dollars a year.', 'The firm estimates the impact of 5%, 10% and 25% tariffs on GM, Ford Motor and Chrysler parent Stellantis would collectively be $13 billion, $25 billion and $56 billion, respectively.', 'S&P Global Mobility, formerly IHS Markit, estimates a 25% duty on a $25,000 vehicle from Canada or Mexico would add $6,250 to its cost — some if not most of which could be passed on to the consumer.', 'S&P Mobility reports plants in Canada and Mexico produce roughly 5.3 million vehicles, with about 70% — nearly 4 million — destined for the U.S.Mexico accounted for a majority of those vehicles, as five automakers— Ford, GM, Stellantis, Toyota Motor and Honda — produced onlyan estimated 1.3 million light-duty vehicles in 2024 in Canada, largely for the U.S. market, according to a Canadian manufacturing nonprofit research group.', 'Some of those automakers also heavily rely on production in Mexico, but not all producers would face the same disruptions.', 'On a percentage of sales basis, German automaker Volkswagen is the most exposed to tariff risk in Mexico, followed by Nissan Motor and Stellantis, S&P Global Mobility reports.', '""We are working, obviously, on scenarios,"" Antonio Filosa, head of Stellantis\' North American operations, said Jan. 10. ""', 'But yes, we need to await his decisions and after the decision of Mr. Trump and his administration, we will work accordingly.', '""Here are the automakers that are most exposed to tariffs on vehicles imported from Mexico, based on the percentage of their U.S. sales being produced south of the border:']",0.0148970696232496,"Others such as Ford declined to comment, whileHondaissued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.","Uncertainty about tradetook a toll on GMon Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter.",-0.4111230854804699,"Others such as Ford declined to comment, whileHondaissued a broad statement: ""North American auto trade is key to the success of Honda globally and we look forward to a swift resolution that provides clarity and stability throughout the region.","Uncertainty about tradetook a toll on GMon Tuesday, when the automaker's stock had one of its worst days in years even after it beat Wall Street's expectations for its 2025 guidance and its top- and bottom-line for the fourth quarter.",2025-02-01
+"FDA approves Vertex’s non-opioid painkiller, first new kind of pain medicine in decades",https://www.cnbc.com/2025/01/30/fda-approves-vertex-non-opioid-painkiller-drug.html,2025-01-31T15:12:11+0000,"In this articleThe Food and Drug Administration on Thursday approved Vertex Pharmaceuticals' non-opioid painkiller pill, a new alternative for pain relief that comes without the risk of addiction. Vertex is now the first drugmaker in decades to gain U.S. approval for a new type of pain medicine. It's a milestone after a long history of mostly unsuccessful efforts to develop painkillers without the destructive dependency of cheap and widely available opioids, which have caused a horrific epidemic of abuse and overdose in the U.S.Vertex's drug, Journavx, is specifically approved for the treatment of moderate to severe acute pain, which is usually caused by injury, surgery, illness, trauma or painful medical procedures and likely eases with time. Around 80 million patients are prescribed a medicine for their moderate to severe acute pain every year in the U.S., according to Vertex. Almost 10% of patients with acute pain who are treated initially with an opioid will go on to have prolonged opioid use, and roughly 85,000 people will develop opioid use disorder annually, Vertex said in a statement.""We have the opportunity to change the paradigm of acute pain management and establish a new standard of care,"" Dr. Reshma Kewalramani, Vertex CEO, said in a statement.Vertex said Journavx will have a list price of $15.50 per 50-milligram pill. Wall Street analysts have said that the medication could become a blockbuster drug if it wins approval from regulators, estimating its annual sales could exceed $1 billion. The experience of pain starts in a nerve ending, and the body detects the pressure and sends a signal to the spinal cord and then the brain. Vertex's treatment works by blocking pain signals at their origin before they reach the brain. That's different from opioids, which act directly on the brain to block pain, triggering the brain's rewards centers in a way that can feed addiction.The approval underscores the ""FDA's commitment to approving safe and effective alternatives to opioids for pain management,"" said Dr. Jacqueline Corrigan-Curay, acting director of the FDA's Center for Drug Evaluation and Research, in a release.Vertex's painkiller was more effective than a placebo at reducing the intensity of pain after 48 hours in two late-stage studies on more than 1,000 patients who had abdominoplasties, also known as ""tummy tucks,"" and roughly another thousand in people who had bunion surgery. Those two procedures are commonly used in studies of people with acute pain.The painkiller, however, failed to meet the secondary goal in both trials of reducing pain when compared with a combination of the opioid drug hydrocodone, which is frequently abused, and acetaminophen, the basis for popular pain medications such as Tylenol.In both trials, rates of adverse side effects were lower in those who received Vertex's drug compared with people who took a placebo. The most commonly reported adverse events among people who received Journavx were itching, muscle spasms and rash, among others, according to the FDA.In a separate phase three study, more than 83% of patients said in a survey that the drug was good, very good or excellent at easing pain. Those people had undergone various surgical or nonsurgical procedures.The bigger opportunity for Vertex may be to win FDA approval in chronic pain. That's an area where the risk of addiction to prescription opioids can be greater, according to the Centers for Disease Control and Prevention. In 2023, the company's painkiller produced positive results in a mid-stage trial in diabetes patients suffering from a chronic nerve condition.",CNBC,31/01/2025,"[""In this articleThe Food and Drug Administration on Thursday approved Vertex Pharmaceuticals' non-opioid painkiller pill, a new alternative for pain relief that comes without the risk of addiction."", 'Vertex is now the first drugmaker in decades to gain U.S. approval for a new type of pain medicine.', ""It's a milestone after a long history of mostly unsuccessful efforts to develop painkillers without the destructive dependency of cheap and widely available opioids, which have caused a horrific epidemic of abuse and overdose in the U.S.Vertex's drug, Journavx, is specifically approved for the treatment of moderate to severe acute pain, which is usually caused by injury, surgery, illness, trauma or painful medical procedures and likely eases with time."", 'Around 80 million patients are prescribed a medicine for their moderate to severe acute pain every year in the U.S., according to Vertex.', 'Almost 10% of patients with acute pain who are treated initially with an opioid will go on to have prolonged opioid use, and roughly 85,000 people will develop opioid use disorder annually, Vertex said in a statement.', '""We have the opportunity to change the paradigm of acute pain management and establish a new standard of care,"" Dr. Reshma Kewalramani, Vertex CEO, said in a statement.', 'Vertex said Journavx will have a list price of $15.50 per 50-milligram pill.', 'Wall Street analysts have said that the medication could become a blockbuster drug if it wins approval from regulators, estimating its annual sales could exceed $1 billion.', 'The experience of pain starts in a nerve ending, and the body detects the pressure and sends a signal to the spinal cord and then the brain.', ""Vertex's treatment works by blocking pain signals at their origin before they reach the brain."", ""That's different from opioids, which act directly on the brain to block pain, triggering the brain's rewards centers in a way that can feed addiction."", 'The approval underscores the ""FDA\'s commitment to approving safe and effective alternatives to opioids for pain management,"" said Dr. Jacqueline Corrigan-Curay, acting director of the FDA\'s Center for Drug Evaluation and Research, in a release.', 'Vertex\'s painkiller was more effective than a placebo at reducing the intensity of pain after 48 hours in two late-stage studies on more than 1,000 patients who had abdominoplasties, also known as ""tummy tucks,"" and roughly another thousand in people who had bunion surgery.', 'Those two procedures are commonly used in studies of people with acute pain.', 'The painkiller, however, failed to meet the secondary goal in both trials of reducing pain when compared with a combination of the opioid drug hydrocodone, which is frequently abused, and acetaminophen, the basis for popular pain medications such as Tylenol.', ""In both trials, rates of adverse side effects were lower in those who received Vertex's drug compared with people who took a placebo."", 'The most commonly reported adverse events among people who received Journavx were itching, muscle spasms and rash, among others, according to the FDA.In a separate phase three study, more than 83% of patients said in a survey that the drug was good, very good or excellent at easing pain.', 'Those people had undergone various surgical or nonsurgical procedures.', 'The bigger opportunity for Vertex may be to win FDA approval in chronic pain.', ""That's an area where the risk of addiction to prescription opioids can be greater, according to the Centers for Disease Control and Prevention."", ""In 2023, the company's painkiller produced positive results in a mid-stage trial in diabetes patients suffering from a chronic nerve condition.""]",-0.0743587404770383,"Wall Street analysts have said that the medication could become a blockbuster drug if it wins approval from regulators, estimating its annual sales could exceed $1 billion.","It's a milestone after a long history of mostly unsuccessful efforts to develop painkillers without the destructive dependency of cheap and widely available opioids, which have caused a horrific epidemic of abuse and overdose in the U.S.Vertex's drug, Journavx, is specifically approved for the treatment of moderate to severe acute pain, which is usually caused by injury, surgery, illness, trauma or painful medical procedures and likely eases with time.",0.6661437253157297,"In 2023, the company's painkiller produced positive results in a mid-stage trial in diabetes patients suffering from a chronic nerve condition.","The painkiller, however, failed to meet the secondary goal in both trials of reducing pain when compared with a combination of the opioid drug hydrocodone, which is frequently abused, and acetaminophen, the basis for popular pain medications such as Tylenol.",2025-02-01
+Major League Table Tennis signs first media deal with CBS Sports,https://www.cnbc.com/2025/01/29/major-league-table-tennis-signs-first-media-deal-with-cbs-sports-.html,2025-01-29T21:12:55+0000,"Major League Table Tennis is going primetime.The pro table tennis league that got its start in 2023 by software entrepreneur Flint Lane has signed its first-ever national television deal with CBS Sports, the league announced Wednesday. This comes as table tennis has seen a resurgence in popularity and as broadcasters are hungry for sports content.Terms of the deal were not disclosed, but CBS Sports Network will air MLTT matches, exclusive highlights, player profiles and behind-the-scenes features throughout the season beginning Sunday at 8 p.m. ET.""This partnership with CBS Sports is a defining milestone for Major League Table Tennis,"" Lane, founder and commissioner of MLTT, told CNBC. ""It's a testament to the league's energy, talent and growing appeal that captivates audiences. We're excited to bring professional table tennis to millions of homes.""MLTT said it's one of America's fastest-growing sports on digital and social platforms and that its viewership on YouTube grew more than 1,200% from its first season into its second season. MLTT also noted that table tennis is the sixth most popular sport in the world with 850 million fans, according to the World Atlas.MLTT currently has eight teams from cities across the U.S. The teams compete against each other during weekend matches.The league has raised about $10 million in capital, Flint said, with investment from names like David Blitzer, owner of Harris Blitzer Sports & Entertainment, which owns the Washington Commanders and Philadelphia 76ers, and Daryl Morey, president of the Philadelphia 76ers.Former San Antonio Spurs star Manu Ginóbili is a minority team owner in MLTT team the Florida Crocs.""Table tennis is considered a basement sport in America,"" Flint said. ""Throughout Europe, there are professional leagues, but we've never had a professional league in this country, so it gives us more credibility.""Flint said the sport got a boost at the Paris Olympics, where for the first time ever two Americans made it to the round of 16. One of those players, Lily Zhang, plays for MLTT.The sport also got some buzz during the Olympics when Golden State Warriors Star Stephen Curry met the USA Table Tennis team at opening ceremonies and later invited them to sit courtside at a game.While MLTT hasn't yet been approved for sports betting, betting on table tennis gained traction during the coronavirus pandemic when many sports were shuttered. In some states like Oregon, table tennis is one of the top sports for betting due to its fast pace and rapidly changing odds.Flint said now that the league has locked in a television deal, it will focus on selling two expansion teams and increasing the sport's presence at the grassroots level.Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.Correction: This article has been updated to correct the spelling of Lily Zhang's name.",CNBC,29/01/2025,"['Major League Table Tennis is going primetime.', 'The pro table tennis league that got its start in 2023 by software entrepreneur Flint Lane has signed its first-ever national television deal with CBS Sports, the league announced Wednesday.', 'This comes as table tennis has seen a resurgence in popularity and as broadcasters are hungry for sports content.', 'Terms of the deal were not disclosed, but CBS Sports Network will air MLTT matches, exclusive highlights, player profiles and behind-the-scenes features throughout the season beginning Sunday at 8 p.m. ET.""This partnership with CBS Sports is a defining milestone for Major League Table Tennis,"" Lane, founder and commissioner of MLTT, told CNBC. ""', ""It's a testament to the league's energy, talent and growing appeal that captivates audiences."", ""We're excited to bring professional table tennis to millions of homes."", '""MLTT said it\'s one of America\'s fastest-growing sports on digital and social platforms and that its viewership on YouTube grew more than 1,200% from its first season into its second season.', 'MLTT also noted that table tennis is the sixth most popular sport in the world with 850 million fans, according to the World Atlas.', 'MLTT currently has eight teams from cities across the U.S. The teams compete against each other during weekend matches.', 'The league has raised about $10 million in capital, Flint said, with investment from names like David Blitzer, owner of Harris Blitzer Sports & Entertainment, which owns the Washington Commanders and Philadelphia 76ers, and Daryl Morey, president of the Philadelphia 76ers.', 'Former San Antonio Spurs star Manu Ginóbili is a minority team owner in MLTT team the Florida Crocs.', '""Table tennis is considered a basement sport in America,"" Flint said. ""', ""Throughout Europe, there are professional leagues, but we've never had a professional league in this country, so it gives us more credibility."", '""Flint said the sport got a boost at the Paris Olympics, where for the first time ever two Americans made it to the round of 16.', 'One of those players, Lily Zhang, plays for MLTT.The sport also got some buzz during the Olympics when Golden State Warriors Star Stephen Curry met the USA Table Tennis team at opening ceremonies and later invited them to sit courtside at a game.', ""While MLTT hasn't yet been approved for sports betting, betting on table tennis gained traction during the coronavirus pandemic when many sports were shuttered."", 'In some states like Oregon, table tennis is one of the top sports for betting due to its fast pace and rapidly changing odds.', ""Flint said now that the league has locked in a television deal, it will focus on selling two expansion teams and increasing the sport's presence at the grassroots level."", 'Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics.', ""NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.Correction: This article has been updated to correct the spelling of Lily Zhang's name.""]",0.2405824420060003,"It's a testament to the league's energy, talent and growing appeal that captivates audiences.",,0.9819360321218316,"""MLTT said it's one of America's fastest-growing sports on digital and social platforms and that its viewership on YouTube grew more than 1,200% from its first season into its second season.",,2025-02-01
+Three key takeaways from Robert F. Kennedy Jr.'s Senate confirmation hearing,https://www.cnbc.com/2025/01/29/watch-rfk-jr-senate-confirmation-hearing-for-hhs-secretary.html,2025-01-29T21:27:00+0000,"Robert F. Kennedy Jr., President Donald Trump's controversial pick to lead the Department of Health and Human Services, testified Wednesday before a crucial Senate panel, where he faced questions about vaccine skepticism, his evolving views on abortion and grasp of sprawling federal health programs.Kennedy, 71, appeared first before the Senate Committee on Finance, which will vote on whether his nomination as HHS secretary advances to the full chamber. In the Republican-controlled Senate, Kennedy can lose only three GOP votes if all Democrats oppose him.He will also appear before the Senate Committee on Health, Education, Labor and Pensions for a courtesy hearing Thursday.He sidestepped many of the questions as senators grilled him Wednesday. He also struggled to answer some questions about Medicare and Medicaid, and often said he would defer to Trump on policies in such areas as reproductive rights and prescription drug price negotiations.If confirmed, Kennedy will take the reins of a $1.7 trillion agency that oversees vaccines and other medicines, scientific research, public health infrastructure, pandemic preparedness, food and tobacco products, and government-funded health care for millions of Americans. The heads of the Food and Drug Administration, Centers for Disease Control and Prevention, National Institutes of Health, and Centers for Medicare & Medicaid Services, among other federal health agencies, all report to the HHS secretary.Kennedy has faced criticism from both sides of the aisle. He is a prominent vaccine skeptic, making false claims that they are linked to autism despite decades of studies that debunk that association.Kennedy is also the founder of the nonprofit Children's Health Defense, the most well-funded anti-vaccine organization in the U.S. In a government ethics agreement last week, he said he stopped serving as chairman or chief legal counsel for the organization as of December.Some critics have argued that his work advocating against vaccine use has cost lives and could deter more Americans from getting recommended shots at a time when vaccination rates are declining.A protester in the hearing room shouted when Kennedy denied he was anti-vaccine, accusing him of lying. It sparked applause, briefly interrupting his opening remarks.Shouting again interrupted the hearing as committee ranking member Sen. Ron Wyden, D-Ore., questioned Kennedy about his comments about vaccines. Committee Chair Sen. Mike Crapo, R-Idaho, threatened to recess the hearing if any more protesters disrupted it.Beyond vaccines, Kennedy also previewed how he plans to pursue his broad ""Make America Healthy Again"" platform if confirmed as the nation's top health official. The platform argues that a corrupt alliance of drug and food companies and the federal health agencies that regulate them are making Americans less healthy. Kennedy has long contended that the agencies that HHS oversees need reform or a sweeping overhaul.Kennedy's supporters say some of his stances around food, such as highlighting the risks of food additives and ultra-processed products, have hit on broad appeal among Republicans and some Democrats. But Kennedy on Wednesday said he is not ""the enemy of food producers,"" noting that American farms are ""the bedrock of our culture and national security.""Caroline Kennedy, the nominee's cousin and daughter of former President John F. Kennedy, wrote a letter to senators Tuesday that referred to her cousin as a ""predator"" and urged them not to confirm him.Here are some of the key takeaways from Wednesday's hearing:Kennedy, in his opening remarks before the panel, pushed back on claims that he is anti-vaccine or anti-industry.""I am neither; I am pro-safety,"" Kennedy said. ""I worked for years to raise awareness about the mercury and toxic chemicals in fish, but that didn't make me anti-fish. All of my kids are vaccinated, and I believe vaccines have a critical role in health care.""Kennedy engaged in heated debate with senators over his vaccine views, saying, ""I support the measles vaccine, I support the polio vaccine, I will do nothing as HHS secretary that makes it difficult or discourages people taking"" them.Sen. Ron Wyden, D-Ore., didn't buy that claim, highlighting Kennedy's previous remarks in a book about not viewing measles as a threat. Senators also pointed to Kennedy's misinformation about the safety of the measles, mumps and rubella vaccine that was linked to a severe measles outbreak in Samoa in 2019 that left dozens of children dead. That outbreak came just months after Kennedy visited the island nation. Kennedy denied having anything to do with the deadly outbreak. ""You cannot find a single Samoan that says, 'I didn't get vaccinated because of Bobby Kennedy,'"" he said.When Wyden asked if measles is deadly, Kennedy did not directly answer the question. Kennedy contended again that he was not anti-vaccine.Wyden also pressed Kennedy on his comments in a 2023 podcast in which he said, ""There's no vaccine that is safe and effective."" Kennedy said he has previously clarified those statements and that he would not dissuade Americans from getting certain vaccines.Democrats pressed Kennedy on whether he had reversed his stance on abortion for political expediency and if he would do the same on other issues. ""When was it that you decided to sell out the values you've had your whole life in order to be given power by President Trump?"" Democratic Sen. Maggie Hassan of New Hampshire said, pointing to his previous public support for abortion rights. Kennedy, in response, said ""every abortion is a tragedy"" — a line he repeated at least four times throughout the hearing. When asked about his approach to regulations around the abortion pill mifepristone, Kennedy said Trump ""wants me to look at safety issues."" He added that the president had not yet taken a position on how to regulate it.""Whatever he does, I will implement those policies, and I will work with this committee to make those policies make sense,"" Kennedy said. That's a similar response he had when asked about other abortion policies. There is extensive scientific evidence showing that the pills, which are regulated and approved for use by the FDA, are safe. Kennedy appeared to struggle when Sen. Bill Cassidy, R-La., pressed him on what reforms he would propose for the state-federal Medicaid program, which provides coverage to around 80 million Americans, including many low-income people. Republicans could target Medicaid, which costs the federal government more than $600 billion a year, for funding reductions this year to help pay for tax cuts. At times, Kennedy appeared to confuse Medicaid with Medicare, a federal program that provides coverage to older and disabled Americans. Kennedy described Medicaid as ""fully paid for"" by the federal government. But the program is funded by states as well. He also claimed that many Medicaid enrollees were frustrated by high costs, saying ""premiums are too high. The deductibles are too high."" But the majority of Medicaid enrollees do not pay any premiums or deductibles for their coverage. Federal law bars premiums for the lowest-income Medicaid enrollees. Kennedy only vaguely described efforts to reform Medicaid, saying he supported increasing ""transparency"" and ""accountability.""",CNBC,29/01/2025,"[""Robert F. Kennedy Jr., President Donald Trump's controversial pick to lead the Department of Health and Human Services, testified Wednesday before a crucial Senate panel, where he faced questions about vaccine skepticism, his evolving views on abortion and grasp of sprawling federal health programs."", 'Kennedy, 71, appeared first before the Senate Committee on Finance, which will vote on whether his nomination as HHS secretary advances to the full chamber.', 'In the Republican-controlled Senate, Kennedy can lose only three GOP votes if all Democrats oppose him.', 'He will also appear before the Senate Committee on Health, Education, Labor and Pensions for a courtesy hearing Thursday.', 'He sidestepped many of the questions as senators grilled him Wednesday.', 'He also struggled to answer some questions aboutMedicare and Medicaid, and often said he would defer to Trump on policies in such areas as reproductive rights and prescription drug price negotiations.', 'If confirmed, Kennedy will take the reins of a $1.7 trillion agency that oversees vaccines and other medicines, scientific research, public health infrastructure, pandemic preparedness, food and tobacco products, and government-funded health care for millions of Americans.', 'The heads of the Food and Drug Administration, Centers for Disease Control and Prevention, National Institutes of Health, and Centers for Medicare & Medicaid Services, among other federal health agencies, all report to the HHS secretary.', 'Kennedy has faced criticism from both sides of the aisle.', 'He is a prominent vaccine skeptic, making false claims that they are linked to autism despite decades of studies that debunk that association.', ""Kennedy is also the founder of the nonprofit Children's Health Defense, the most well-funded anti-vaccine organization in the U.S.In a government ethics agreement last week, he said he stopped serving as chairman or chief legal counsel for the organization as of December."", 'Some critics have argued that his work advocating against vaccine use has cost lives and could deter more Americans from getting recommended shots at a time when vaccination rates are declining.', 'A protester in the hearing room shouted when Kennedy denied he was anti-vaccine, accusing him of lying.', 'It sparked applause, briefly interrupting his opening remarks.', 'Shouting again interrupted the hearing as committee ranking member Sen. Ron Wyden, D-Ore., questioned Kennedy about his comments about vaccines.', 'Committee Chair Sen. Mike Crapo, R-Idaho, threatened to recess the hearing if any more protesters disrupted it.', 'Beyond vaccines, Kennedy also previewed how he plans to pursue his broad ""Make America Healthy Again"" platform if confirmed as the nation\'s top health official.', 'The platform argues that a corrupt alliance of drug and food companies and the federal health agencies that regulate them are making Americans less healthy.', 'Kennedy has long contended that the agencies that HHS oversees need reform or a sweeping overhaul.', ""Kennedy's supporters say some of his stances around food, such as highlighting the risks of food additives and ultra-processed products, have hit on broad appeal among Republicans and some Democrats."", 'But Kennedy on Wednesday said he is not ""the enemy of food producers,"" noting that American farms are ""the bedrock of our culture and national security.', '""Caroline Kennedy, the nominee\'s cousin and daughter of former President John F. Kennedy, wrote a letter to senators Tuesday that referred to her cousin as a ""predator"" and urged them not to confirm him.', ""Here are some of the key takeaways from Wednesday's hearing:Kennedy, in his opening remarks before the panel, pushed back on claims that he is anti-vaccine or anti-industry."", '""I am neither; I am pro-safety,"" Kennedy said. ""', ""I worked for years to raise awareness about the mercury and toxic chemicals in fish, but that didn't make me anti-fish."", 'All of my kids are vaccinated, and I believe vaccines have a critical role in health care.', '""Kennedy engaged in heated debate with senators over his vaccine views, saying, ""I support the measles vaccine, I support the polio vaccine, I will do nothing as HHS secretary that makes it difficult or discourages people taking"" them.', ""Sen. Ron Wyden, D-Ore., didn't buy that claim, highlighting Kennedy's previous remarks in a book about not viewing measles as a threat."", ""Senators also pointed to Kennedy's misinformation about the safety of the measles, mumps and rubella vaccine that was linked to a severe measles outbreak in Samoa in 2019 that left dozens of children dead."", 'That outbreak came just months after Kennedy visited the island nation.', 'Kennedy denied having anything to do with the deadly outbreak.', '""You cannot find a single Samoan that says, \'I didn\'t get vaccinated because of Bobby Kennedy,\'"" he said.', 'When Wyden asked if measles is deadly, Kennedy did not directly answer the question.', 'Kennedy contended again that he was not anti-vaccine.', 'Wyden also pressed Kennedy on his comments in a 2023 podcast in which he said, ""There\'s no vaccine that is safe and effective.""', 'Kennedy said he has previously clarified those statements and that he would not dissuade Americans from getting certain vaccines.', 'Democrats pressed Kennedy on whether he had reversed his stance on abortion for political expediency and if he would do the same on other issues.', '""When was it that you decided to sell out the values you\'ve had your whole life in order to be given power by President Trump?""', 'Democratic Sen. Maggie Hassan of New Hampshire said, pointing to his previous public support for abortion rights.', 'Kennedy, in response, said ""every abortion is a tragedy"" — a line he repeated at least four times throughout the hearing.', 'When asked about his approach to regulations around the abortion pill mifepristone, Kennedy said Trump ""wants me to look at safety issues.""', 'He added that the president had not yet taken a position on how to regulate it.', '""Whatever he does, I will implement those policies, and I will work with this committee to make those policies make sense,"" Kennedy said.', ""That's a similar response he had when asked about other abortion policies."", 'There is extensive scientific evidence showing that the pills, which are regulated and approved for use by the FDA, are safe.', 'Kennedy appeared to struggle when Sen. Bill Cassidy, R-La., pressed him on what reforms he would propose for the state-federal Medicaid program, which provides coverage to around 80 million Americans, including many low-income people.', 'Republicans could target Medicaid, which costs the federal government more than $600 billion a year, for funding reductions this year to help pay for tax cuts.', 'At times, Kennedy appeared to confuse Medicaid with Medicare, a federal program that provides coverage to older and disabled Americans.', 'Kennedy described Medicaid as ""fully paid for"" by the federal government.', 'But the program is funded by states as well.', 'He also claimed that many Medicaid enrollees were frustrated by high costs, saying ""premiums are too high.', 'The deductibles are too high.', '""But the majority of Medicaid enrollees do not pay any premiums or deductibles for their coverage.', 'Federal law bars premiums for the lowest-income Medicaid enrollees.', 'Kennedy only vaguely described efforts to reform Medicaid, saying he supported increasing ""transparency"" and ""accountability.""']",-0.0208641574024245,"But Kennedy on Wednesday said he is not ""the enemy of food producers,"" noting that American farms are ""the bedrock of our culture and national security.","A protester in the hearing room shouted when Kennedy denied he was anti-vaccine, accusing him of lying.",-0.7147447629408403,"Kennedy's supporters say some of his stances around food, such as highlighting the risks of food additives and ultra-processed products, have hit on broad appeal among Republicans and some Democrats.",Some critics have argued that his work advocating against vaccine use has cost lives and could deter more Americans from getting recommended shots at a time when vaccination rates are declining.,2025-02-01
+Sports bar chain Twin Peaks is going public. These restaurant companies are the next to watch,https://www.cnbc.com/2025/01/30/twin-peaks-goes-public-panera-fogo-de-chao-consider-ipos.html,2025-01-30T13:03:55+0000,"In this articleSports bar chain Twin Peaks starts trading Thursday on the Nasdaq using the ticker ""TWNP,"" making it the first restaurant initial public offering of the new year and a potential litmus test for others looking to go public.The IPO market has been tepid for several years, particularly for consumer companies. Soaring inflation, higher interest rates, cautious consumers and the risk of lower valuations scared many companies away from going public. Market conditions meant that some companies chose to seek a sale rather than trying their luck with the public markets. Even the rare success, like Cava's IPO, didn't convince others to follow its path.But many are hopeful that the IPO market will thaw this year.""Last year was a stronger year than 2023, and we're expecting 2025 to have more IPOs than 2024,"" said Nick Einhorn, vice president of research for Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs. ""That could certainly include more consumer IPOs.""Twin Peaks won't be the first consumer company to make the leap this year — and that debut may not inspire confidence.Pork producer Smithfield Foods, a subsidiary of Hong Kong-based WH Group, began trading on Tuesday. Shares fell 7% from its IPO price of $20 during its market debut. The company had already downsized its offering by 8.1 million shares and priced below its marketed range. Smithfield's challenges include its ties to China, U.S. trade tensions with Mexico and proposed immigration policies that would raise its labor costs.For its part, Twin Peaks, a Hooters rival known for its revealing uniform, is relatively small, with an estimated equity value of $1.04 billion to $1.28 billion and 115 restaurants, according to an investor presentation published by owner Fat Brands. (Fat Brands and its chair Andy Wiederhorn were criminally indicted last year for an alleged $47 million bogus loan scheme; both have denied the charges.)Fat Brands is spinning off Twin Peaks and plans to use the cash to pay off the debt on its balance sheet.Here are three other restaurant companies that are watching the IPO market for their chance to go public:JAB Holding, the investment arm of the Reimann family, has been looking to offload Panera Brands, the parent company of Panera Bread and Einstein Bros. Bagels, from its portfolio for several years. JAB originally took Panera Bread private in 2017 for $7.5 billion.In 2021, Panera announced an investment from Danny Meyer's special purpose acquisition company that would help the company go public. But the two parties called off the deal by mid-2022, citing market conditions.A year and half later, in December 2023, Panera Brands confidentially filed to go public. Six months after the confidential filing, the company announced a CEO transition and tied the shakeup to ""preparation for its eventual IPO.""However, a public filing never followed. The restaurant industry began to see a pullback in spending, as many consumers opted to cook at home instead of dining out at eateries.Plus, Panera's Charged Lemonade went viral for all of the wrong reasons; the company removed the highly caffeinated drink from its menu after multiple wrongful death lawsuits tied to it. Panera settled with the first plaintiff in October.Earlier this month, Panera's CEO resigned, and the company tapped its chief financial officer to step in as interim chief. With its leadership in flux, it looks unlikely that Panera will try to go public again this year.A year and a half ago, Bain Capital announced that it is buying Fogo de Chao, a fast-growing Brazilian steakhouse chain. Like Krispy Kreme, Sweetgreen and Dutch Bros., the chain had filed to go public in 2021 — but it missed the window.  Fogo de Chao has over 100 locations globally and 76 in the U.S. alone. The company plans to open another 15 restaurants this year.Whenever the IPO market is ready, so will Fogo de Chao.""If the optionality is there, then we'll launch,"" Fogo de Chao CEO Barry McGowan told CNBC at the ICR Conference in Orlando earlier in January. ""My hope is, this year, we'll see what happens to the consumer markets. I think it's going to get started this year or in the next year.""McGowan joked that Fogo de Chao's longtime CFO Tony Laday has filed more S-1 filings than any other chief financial officer; the company filed three the first time it went public, and seven before Bain bought it.Thanks to Bain's investment, Fogo de Chao isn't in a rush to go public.""We're not in a hurry to go. We don't want to file seven more times. We want to be more certain before we file,"" McGowan said.Roark Capital assembled Inspire Brands by cobbling together a slew of acquisitions into a restaurant conglomerate.Inspire's portfolio includes Arby's, Jimmy John's, Sonic, Buffalo Wild Wings, Dunkin' and Baskin Robbins. Across all of its brands, it has more than 32,600 restaurants globally and totals $30 billion in system sales.Nearly a year ago, Bloomberg reported that Roark was in early-stage IPO discussions with potential advisers and seeking a valuation of $20 billion for Inspire. But it's been crickets since then.Still, Pitchbook identified Inspire Brands as one of 50 private equity-backed names that could go public in 2025.""Obviously, private equity backers will want to exit their position eventually, and IPOs are often a way to do that,"" Einhorn said.And unlike Panera, Inspire has a stable leadership team. CEO Paul Brown co-founded the company and has held his role since 2018. CFO Kate Jaspon joined Inspire in 2021 after it acquired her employer Dunkin'. More than a decade ago, she was a vice president at Dunkin' during its own IPO.",CNBC,30/01/2025,"['In this articleSports bar chain Twin Peaks starts trading Thursday on the Nasdaq using the ticker ""TWNP,"" making it the first restaurant initial public offering of the new year and a potential litmus test for others looking to go public.', 'The IPO market has been tepid for several years, particularly for consumer companies.', 'Soaring inflation, higher interest rates, cautious consumers and the risk of lower valuations scared many companies away from going public.', 'Market conditions meant that some companies chose to seek a sale rather than trying their luck with the public markets.', ""Even the rare success, like Cava's IPO, didn't convince others to follow its path."", 'But many are hopeful that the IPO market will thaw this year.', '""Last year was a stronger year than 2023, and we\'re expecting 2025 to have more IPOs than 2024,"" said Nick Einhorn, vice president of research for Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs. ""', 'That could certainly include more consumer IPOs.', '""Twin Peaks won\'t be the first consumer company to make the leap this year — and that debut may not inspire confidence.', 'Pork producer Smithfield Foods, a subsidiary of Hong Kong-based WH Group, began trading on Tuesday.', 'Shares fell 7% from its IPO price of $20 during its market debut.', 'The company had already downsized its offering by 8.1 million shares and priced below its marketed range.', ""Smithfield's challenges include its ties to China, U.S. trade tensions with Mexico and proposed immigration policies that would raise its labor costs."", 'For its part, Twin Peaks, a Hooters rival known for its revealing uniform, is relatively small, with an estimated equity value of $1.04 billion to $1.28 billion and 115 restaurants, according to an investor presentation published by owner Fat Brands. (', 'Fat Brands and its chair Andy Wiederhorn were criminally indicted last year for an alleged $47 million bogus loan scheme; both have denied the charges.)Fat Brands is spinning off Twin Peaks and plans to use the cash to pay off the debt on its balance sheet.', 'Here are three other restaurant companies that are watching the IPO market for their chance to go public:JAB Holding, the investment arm of the Reimann family, has been looking to offload Panera Brands, the parent company of Panera Bread and Einstein Bros. Bagels, from its portfolio for several years.', 'JAB originally took Panera Bread private in 2017 for $7.5 billion.', ""In 2021, Panera announced an investment from Danny Meyer's special purpose acquisition company that would help the company go public."", 'But the two parties called off the deal by mid-2022, citing market conditions.', 'A year and half later, in December 2023, Panera Brands confidentially filed to go public.', 'Six months after the confidential filing, the company announced a CEO transition and tied the shakeup to ""preparation for its eventual IPO.""However, a public filing never followed.', 'The restaurant industry began to see a pullback in spending, as many consumers opted to cook at home instead of dining out at eateries.', ""Plus, Panera's Charged Lemonade went viral for all of the wrong reasons; the company removed the highly caffeinated drink from its menu after multiple wrongful death lawsuits tied to it."", 'Panera settled with the first plaintiff in October.', ""Earlier this month, Panera's CEO resigned, and the company tapped its chief financial officer to step in as interim chief."", 'With its leadership in flux, it looks unlikely that Panera will try to go public again this year.', 'A year and a half ago, Bain Capital announced that it is buying Fogo de Chao, a fast-growing Brazilian steakhouse chain.', 'Like Krispy Kreme, Sweetgreen and Dutch Bros., the chain had filed to go public in 2021 — but it missed the window.', 'Fogo de Chao has over 100 locations globally and 76 in the U.S. alone.', 'The company plans to open another 15 restaurants this year.', 'Whenever the IPO market is ready, so will Fogo de Chao.', '""If the optionality is there, then we\'ll launch,"" Fogo de Chao CEO Barry McGowan told CNBC at the ICR Conference in Orlando earlier in January. ""', ""My hope is, this year, we'll see what happens to the consumer markets."", ""I think it's going to get started this year or in the next year."", '""McGowan joked that Fogo de Chao\'s longtime CFO Tony Laday has filed more S-1 filings than any other chief financial officer; the company filed three the first time it went public, and seven before Bain bought it.', ""Thanks to Bain's investment, Fogo de Chao isn't in a rush to go public."", '""We\'re not in a hurry to go.', ""We don't want to file seven more times."", 'We want to be more certain before we file,"" McGowan said.', 'Roark Capital assembled Inspire Brands by cobbling together a slew of acquisitions into a restaurant conglomerate.', ""Inspire's portfolio includes Arby's, Jimmy John's, Sonic, Buffalo Wild Wings, Dunkin' and Baskin Robbins."", 'Across all of its brands, it has more than 32,600 restaurants globally and totals $30 billion in system sales.', 'Nearly a year ago, Bloomberg reported that Roark was in early-stage IPO discussions with potential advisers and seeking a valuation of $20 billion for Inspire.', ""But it's been crickets since then."", 'Still, Pitchbook identified Inspire Brands as one of 50 private equity-backed names that could go public in 2025.""Obviously, private equity backers will want to exit their position eventually, and IPOs are often a way to do that,"" Einhorn said.', 'And unlike Panera, Inspire has a stable leadership team.', 'CEO Paul Brown co-founded the company and has held his role since 2018.', ""CFO Kate Jaspon joined Inspire in 2021 after it acquired her employer Dunkin'."", ""More than a decade ago, she was a vice president at Dunkin' during its own IPO.""]",0.1443571251569377,"Even the rare success, like Cava's IPO, didn't convince others to follow its path.","Plus, Panera's Charged Lemonade went viral for all of the wrong reasons; the company removed the highly caffeinated drink from its menu after multiple wrongful death lawsuits tied to it.",-0.4373505661884944,"""Last year was a stronger year than 2023, and we're expecting 2025 to have more IPOs than 2024,"" said Nick Einhorn, vice president of research for Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs. ""","The restaurant industry began to see a pullback in spending, as many consumers opted to cook at home instead of dining out at eateries.",2025-02-01
+"Comcast stock falls 11% after company underwhelms in broadband, Peacock subscribers",https://www.cnbc.com/2025/01/30/comcast-cmcsa-earnings-q4-2024.html,2025-01-30T21:15:07+0000,"In this articleComcast topped Wall Street's fourth-quarter estimates Thursday despite reporting larger-than-expected broadband subscriber losses and stagnating paid subscribers for its streaming service, Peacock.Wall Street has been particularly focused on cable companies' broadband businesses, which still garner high revenue and earnings but have been in the midst of a customer growth slump due to heightened competition from wireless companies, among other factors.At the same time, streaming has been top of mind for the Street. Although profitability is now considered the key measure of success, investors have taken note of recent subscriber additions by major players since the introduction of cheaper, ad-supported tiers.Comcast reported Thursday that it lost 139,000 residential broadband customers during the fourth quarter, more than the 100,000 losses that Comcast Cable CEO Dave Watson had telegraphed in December during an investor conference.Comcast President Mike Cavanagh on Thursday's investor call said the broadband losses were ""disappointing and worse than what we indicated in early December.""The company also reported Thursday that Peacock had 36 million subscribers during the most recent quarter, up year over year but flat from the prior period. Wall Street had been looking for total paid subscribers of 37.56 million, according to estimates from StreetAccount.Comcast shares fell 11% Thursday.Here is how the company performed for the quarter, compared with average analyst estimates from LSEG: For the quarter ended Dec. 31, net income attributable to Comcast rose roughly 47% to $4.78 billion, or $1.24 per share, compared with $3.26 billion, or 81 cents per share, a year earlier. Adjusting for one-time items, including interest expense and the value of certain assets, Comcast reported earnings per share of 96 cents for the period. Adjusted earnings before interest, taxes, depreciation and amortization was up about 10% to $8.81 billion. In addition to higher broadband revenue, Comcast's overall revenue was up 2% to $31.92 billion, thanks to an increase in segments including its mobile business, the film studio and revenue growth at streaming service Peacock. During the fourth quarter of 2023, Comcast reported revenue of $31.25 billion. Despite the slowdown in cable industry broadband customer growth, the business is a key driver on balance sheets like Comcast's as average revenue per user has risen. Broadband is part of Comcast's Connectivity and Platforms segment, which also includes Xfinity Mobile wireless, which was launched in 2017. The company surpassed 7.8 million mobile lines, and revenue from the unit helped propel overall residential connectivity revenue. Comcast executives Thursday said the company would shift focus to the mobile business in a push to add more lines and further bundle it with broadband. Watson said Thursday the company will ""put the pedal down"" on the mobile effort in the second quarter.Comcast lost 311,000 cable TV customers during the fourth quarter. Meanwhile, revenue for the company's Content and Experiences business, which includes NBCUniversal's TV networks and streaming, the film studio and theme parks, was up 5% to roughly $12.08 billion during the fourth quarter. Revenue for the media segment, which includes the TV networks, was up 3.5% to about $7.22 billion, namely due to higher revenue for Peacock due to an uptick in paid subscribers on the platform from the prior year. Overall domestic advertising for the media segment was flat as ad dollars for Peacock increased but the TV networks saw a smaller haul. The media segment reported $298 million in adjusted EBITDA, falling short of Wall Street expectations of $317.1 million for the quarter, according to StreetAccount estimates. The rest of the businesses in the content and experiences segment beat StreetAccount estimates, including overall adjusted EBITDA.In November, Comcast announced it would spin off its cable network channels, a portfolio that includes CNBC, MSNBC, E!, Syfy, USA, Oxygen and the Golf Channel. The separation, which will also include digital assets such as Fandango and Rotten Tomatoes, is expected to take about a year. The NBC broadcast network, cable channel Bravo and Peacock will remain with Comcast.Peacock has been moving toward profitability in recent quarters. On Thursday, Comcast reported Peacock had $1.3 billion in fourth-quarter revenue and an adjusted EBITDA loss of $372 million, compared with $1 billion in revenue and an adjusted EBITDA loss of $825 million in the same period last year. Peacock's subscriber growth often rises on the back of major live sporting events on the platform. The Summer Olympics in Paris was a key driver in the third quarter, when the platform added 3 million subscribers. Exclusive NFL games have helped pad the streamer's numbers, and the company has touted the addition of the NBA and WNBA next season.Universal Studios' revenue was up 6.7% to $3.27 billion, and the segment's adjusted EBITDA was up 85% to $569 million, boosted by the box office successes of films including ""Kung Fu Panda 4,"" ""Despicable Me 4,"" ""The Wild Robot"" and ""Wicked."" Meanwhile, Theme Parks revenue was flat as lower attendance persisted at domestic locations. Disclosure: Comcast owns NBCUniversal, the parent company of CNBC. NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.",CNBC,30/01/2025,"[""In this articleComcast topped Wall Street's fourth-quarter estimates Thursday despite reporting larger-than-expected broadband subscriber losses and stagnating paid subscribers for its streaming service, Peacock."", ""Wall Street has been particularly focused on cable companies' broadband businesses, which still garner high revenue and earnings but have been in the midst of a customer growth slump due to heightened competition from wireless companies, among other factors."", 'At the same time, streaming has been top of mind for the Street.', 'Although profitability is now considered the key measure of success, investors have taken note of recent subscriber additions by major players since the introduction of cheaper, ad-supported tiers.', 'Comcast reported Thursday that it lost 139,000 residential broadband customers during the fourth quarter, more than the 100,000 losses that Comcast Cable CEO Dave Watson had telegraphed in December during an investor conference.', 'Comcast President Mike Cavanagh on Thursday\'s investor call said the broadband losses were ""disappointing and worse than what we indicated in early December.', '""The company also reported Thursday that Peacock had 36 million subscribers during the most recent quarter, up year over year but flat from the prior period.', 'Wall Street had been looking for total paid subscribers of 37.56 million, according to estimates from StreetAccount.', 'Comcast shares fell 11% Thursday.', 'Here is how the company performed for the quarter, compared with average analyst estimates from LSEG:For the quarter ended Dec. 31, net income attributable to Comcast rose roughly 47% to $4.78 billion, or $1.24 per share, compared with $3.26 billion, or 81 cents per share, a year earlier.', 'Adjusting for one-time items, including interest expense and the value of certain assets, Comcast reported earnings per share of 96 cents for the period.', 'Adjusted earnings before interest, taxes, depreciation and amortization was up about 10% to $8.81 billion.', ""In addition to higher broadband revenue, Comcast's overall revenue was up 2% to $31.92 billion, thanks to an increase in segments including its mobile business, the film studio and revenue growth at streaming service Peacock."", 'During the fourth quarter of 2023, Comcast reported revenue of $31.25 billion.', ""Despite the slowdown in cable industry broadband customer growth, the business is a key driver on balance sheets like Comcast's as average revenue per user has risen."", ""Broadband is part of Comcast's Connectivity and Platforms segment, which also includes Xfinity Mobile wireless, which was launched in 2017."", 'The company surpassed 7.8 million mobile lines, and revenue from the unit helped propel overall residential connectivity revenue.', 'Comcast executives Thursday said the company would shift focus to the mobile business in a push to add more lines and further bundle it with broadband.', 'Watson said Thursday the company will ""put the pedal down"" on the mobile effort in the second quarter.', 'Comcast lost 311,000 cable TV customers during the fourth quarter.', ""Meanwhile, revenue for the company's Content and Experiences business, which includes NBCUniversal's TV networks and streaming, the film studio and theme parks, was up 5% to roughly $12.08 billion during the fourth quarter."", 'Revenue for the media segment, which includes the TV networks, was up 3.5% to about $7.22 billion, namely due to higher revenue for Peacock due to an uptick in paid subscribers on the platform from the prior year.', 'Overall domestic advertising for the media segment was flat as ad dollars for Peacock increased but the TV networks saw a smaller haul.', 'The media segment reported $298 million in adjusted EBITDA, falling short of Wall Street expectations of $317.1 million for the quarter, according to StreetAccount estimates.', 'The rest of the businesses in the content and experiences segment beat StreetAccount estimates, including overall adjusted EBITDA.In November, Comcast announced it would spin off its cable network channels, a portfolio that includes CNBC, MSNBC, E!,', 'Syfy, USA, Oxygen and the Golf Channel.', 'The separation, which will also include digital assets such as Fandango and Rotten Tomatoes, is expected to take about a year.', 'The NBC broadcast network, cable channel Bravo and Peacock will remain with Comcast.', 'Peacock has been moving toward profitability in recent quarters.', 'On Thursday, Comcast reported Peacock had $1.3 billion in fourth-quarter revenue and an adjusted EBITDA loss of $372 million, compared with $1 billion in revenue and an adjusted EBITDA loss of $825 million in the same period last year.', ""Peacock's subscriber growth often rises on the back of major live sporting events on the platform."", 'The Summer Olympics in Paris was a key driver in the third quarter, when the platform added 3 million subscribers.', ""Exclusive NFL games have helped pad the streamer's numbers, and the company has touted the addition of the NBA and WNBA next season."", 'Universal Studios\' revenue was up 6.7% to $3.27 billion, and the segment\'s adjusted EBITDA was up 85% to $569 million, boosted by the box office successes of films including ""Kung Fu Panda 4,"" ""Despicable Me 4,"" ""The Wild Robot"" and ""Wicked.', '""Meanwhile, Theme Parks revenue was flat as lower attendance persisted at domestic locations.', 'Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.', 'NBCUniversal owns NBC Sports and NBC Olympics.', 'NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.']",0.0597997125879288,"Adjusting for one-time items, including interest expense and the value of certain assets, Comcast reported earnings per share of 96 cents for the period.","Comcast President Mike Cavanagh on Thursday's investor call said the broadband losses were ""disappointing and worse than what we indicated in early December.",0.3477487707138061,"Meanwhile, revenue for the company's Content and Experiences business, which includes NBCUniversal's TV networks and streaming, the film studio and theme parks, was up 5% to roughly $12.08 billion during the fourth quarter.","""Meanwhile, Theme Parks revenue was flat as lower attendance persisted at domestic locations.",2025-02-01
+"Starbucks earnings top estimates, but same-store sales decline for fourth straight quarter",https://www.cnbc.com/2025/01/28/starbucks-sbux-q1-2025-earnings.html,2025-01-29T15:36:22+0000,"In this articleStarbucks on Tuesday reported that its same-store sales slid for the fourth consecutive quarter, but the company's quarterly earnings and revenue beat Wall Street's expectations.The coffee giant kicked off a turnaround plan last quarter in the hopes of reviving its U.S. business, which has slumped over the past year.""While we have room for improvement, we're making progress as planned, and have confidence we're on the right track,"" CEO Brian Niccol said in a video released on the company's website Tuesday afternoon.He added that the company has seen a ""positive response"" to the early steps it has taken. Those tweaks have included removing extra charges for nondairy milk options, focusing its marketing on its coffee and slashing 30% of its food and beverage menu items by the end of fiscal 2025.Here is what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Starbucks reported fiscal first-quarter net income attributable to the company of $780.8 million, or 69 cents per share, down from $1.02 billion, or 90 cents per share, a year earlier.The company's net sales of $9.4 billion were unchanged from a year earlier.Starbucks' same-store sales fell 4%, fueled by a 6% decline in traffic to its stores. Wall Street was expecting a steeper drop of 5.5%, according to StreetAccount estimates. Both its U.S. and international locations outperformed expectations.U.S. same-store sales slid 4% as traffic to its cafes fell 8%. Under Niccol, who took the reins in September, the company has been trying to turn around its U.S. business by getting ""back to Starbucks"" and returning its focus to coffee and the customer experience.Starbucks has also been cutting back on deals, so its discounted transactions fell 40% during the quarter. Niccol credited the pullback in discounts for the chain's sales improvement throughout the quarter.Outside of its home market, same-store sales also declined 4%.Starbucks' same-store sales in China, its second-largest market, fell 6%, fueled by a 4% decline in average ticket. The coffee giant has been leaning into discounts in China to compete with rivals that have much lower prices, such as Luckin Coffee.Niccol said he made his first visit to stores in China last week. The company is exploring strategic partnerships to grow its business in the country.""We're processing these learnings, and we will share more as we do,"" he told analysts on the company's conference call.In October, the company suspended its forecast for fiscal 2025, citing the turnaround efforts. On Tuesday's call, executives also backed away from a target of $4 billion in supply-chain cost savings by 2028; Niccol's predecessor Laxman Narasimhan had shared that number in April 2024, just as sales began to shrink and months before he was out of the job.Starbucks is also planning fewer new locations and renovations in fiscal 2025 to free up capital to fuel its comeback. However, Niccol sees strong demand for more cafes in the long term.""In the U.S. alone, we still see the potential to double our store count, while improving the overall health of our portfolio. We'll do this through a strong store renovation program, new store builds, and store closures,"" Niccol said.The company is also trying to improve its speed of service by scheduling more workers, removing bottlenecks behind its coffee counters and making baristas' jobs easier.For example, Starbucks plans to prioritize installing its Siren equipment in its busiest locations, Niccol said. The new equipment includes a custom ice dispenser, milk-dispensing system and faster blenders so baristas can make drinks more quickly.Starbucks is also piloting a new algorithm to manage the order that baristas should make both mobile and in-store drinks. If successful, the algorithm could solve Starbucks' overcrowded pick-up counters that cause frustration for both customers and baristas.Niccol also has plans for Starbucks' corporate workforce. He has been reorganizing the company's structure, including splitting the role of North American president into two jobs. Earlier on Tuesday, the company announced it has hired two alumni from Taco Bell, Niccol's employer prior to Chipotle.In early March, the company is planning to lay off workers, although Starbucks has not yet shared how many jobs will be affected.",CNBC,29/01/2025,"[""In this articleStarbucks on Tuesday reported that its same-store sales slid for the fourth consecutive quarter, but the company's quarterly earnings and revenue beat Wall Street's expectations."", 'The coffee giant kicked off a turnaround plan last quarter in the hopes of reviving its U.S. business, which hasslumpedover the past year.', '""While we have room for improvement, we\'re making progress as planned, and have confidence we\'re on the right track,"" CEO Brian Niccol said in a video released on the company\'s website Tuesday afternoon.', 'He added that the company has seen a ""positive response"" to the early steps it has taken.', 'Those tweaks have included removing extra charges for nondairy milk options, focusing its marketing on its coffee and slashing 30% of its food and beverage menu items by the end of fiscal 2025.Here is what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Starbucks reported fiscal first-quarter net income attributable to the company of $780.8 million, or 69 cents per share, down from $1.02 billion, or 90 cents per share, a year earlier.', ""The company's net salesof $9.4 billion were unchanged from a year earlier."", ""Starbucks' same-store sales fell 4%, fueled by a 6% decline in traffic to its stores."", 'Wall Street was expecting a steeper drop of 5.5%, according to StreetAccount estimates.', 'Bothits U.S. and international locations outperformed expectations.', 'U.S. same-store sales slid 4% as traffic to its cafes fell 8%.', 'Under Niccol, who took the reins in September, the company has been trying to turn around its U.S. business by getting ""back to Starbucks"" and returning its focus to coffee and the customer experience.', 'Starbucks has also been cutting back on deals, so its discounted transactions fell 40% during the quarter.', ""Niccol credited the pullback in discounts for the chain's sales improvement throughout the quarter."", ""Outside of its home market, same-store sales also declined 4%.Starbucks' same-store sales in China, its second-largest market, fell 6%, fueled by a 4% decline in average ticket."", 'The coffee giant has been leaning into discounts in China to compete with rivals that have much lower prices, such as Luckin Coffee.', 'Niccol said he made his first visit to stores in China last week.', 'The company is exploring strategic partnerships to grow its business in the country.', '""We\'re processing these learnings, and we will share more as we do,"" he told analysts on the company\'s conference call.', 'In October, the company suspended its forecast for fiscal 2025, citing the turnaround efforts.', ""On Tuesday's call, executives also backed away from a target of $4 billion in supply-chain cost savings by 2028; Niccol's predecessor Laxman Narasimhan had shared that number in April 2024, just as sales began to shrink and months before he was out of the job."", 'Starbucks is also planning fewer new locations and renovations in fiscal 2025 to free up capital to fuel its comeback.', 'However, Niccol sees strong demand for more cafes in the long term.', '""In the U.S. alone, we still see the potential to double our store count, while improving the overall health of our portfolio.', 'We\'ll do this through a strong store renovation program, new store builds, and store closures,"" Niccol said.', ""The company is also trying to improve its speed of service by scheduling more workers, removing bottlenecks behind its coffee counters and making baristas' jobs easier."", 'For example, Starbucks plans to prioritize installing its Siren equipment in its busiest locations, Niccol said.', 'The new equipment includes a custom ice dispenser, milk-dispensing system and faster blenders so baristas can make drinks more quickly.', 'Starbucks is also piloting a new algorithm to manage the order that baristas should make both mobile and in-store drinks.', ""If successful, the algorithm could solve Starbucks' overcrowded pick-up counters that cause frustration for both customers and baristas."", ""Niccol also has plans for Starbucks' corporate workforce."", ""He has been reorganizing the company's structure, including splitting the role of North American president into two jobs."", ""Earlier on Tuesday, the company announced it has hired two alumni from Taco Bell, Niccol's employer prior to Chipotle."", 'In early March, the company is planning to lay off workers, although Starbucks has not yet shared how many jobs will be affected.']",0.1369357205579486,"""While we have room for improvement, we're making progress as planned, and have confidence we're on the right track,"" CEO Brian Niccol said in a video released on the company's website Tuesday afternoon.","In October, the company suspended its forecast for fiscal 2025, citing the turnaround efforts.",0.2201510667800903,"""In the U.S. alone, we still see the potential to double our store count, while improving the overall health of our portfolio.",U.S. same-store sales slid 4% as traffic to its cafes fell 8%.,2025-02-01
+New York City office demand is finally back to normal,https://www.cnbc.com/2025/01/31/new-york-city-office-demand-back-to-normal.html,2025-01-31T20:42:30+0000,"In this articleDemand for New York City office space has finally returned to pre-pandemic levels, driven by an influx of new workers as well as a drive by employers to see current workers return to the office.During the fourth quarter, office demand in the city jumped 25% from the year before, according to VTS, which measures demand through unique new tenant tours of properties. The measure is an early indicator of new leasing.""New York City's shift back to in-office work reflects the city's unique cultural and economic dynamics, especially in the finance and tech sectors,"" said Nick Romito, CEO of VTS, in a news release.SL Green Realty Corp., a real estate investment trust, or REIT, concentrated in Manhattan office and retail, released earnings last week, and while it missed revenue expectations, analysts pointed to further tightening in the office market as leasing demand accelerates.On a call with analysts, SL Green Realty CEO Marc Holliday noted that the city's Office of Management and Budget is forecasting about 38,000 new office-using jobs in 2025, mostly stemming from finance, business services and information technology.""That translates into millions and millions of square feet of new absorption for each one of those bodies, and those are not work-from-home bodies for the most part,"" said Holliday. ""Combine that with the fact that on-site attendance is rising every month as companies are calling people back to the office four and five days a week. We expect to see very strong demand for office space throughout 2025,"" Holliday added.Holliday also noted SL Green ended the year at 92.5% occupancy, and is projecting more than 93% leased occupancy over the coming year.Tech giant IBM recently signed a 92,663-square-foot expansion lease with SL Green at One Madison Avenue, increasing IBM's total footprint at the property to more than 362,000 square feet.""The expansion of IBM's flagship office at One Madison Avenue reaffirms a long-standing commitment to advance the technology sector in New York City and New York State, with a vibrant and collaborative workspace designed to bring employees, clients and partners together from around the world,"" said Joanne Wright, IBM senior vice president for transformation and operations, in a release.New York is the clear winner in the office recovery, but VTS notes other improving markets. San Francisco saw a 32% annual growth rate in demand, a faster growth rate than New York's, though it was starting at a much weaker position. Seattle and Chicago saw growth rates of around 15% each as employers in those cities increasingly embrace hybrid work models that require consistent in-office presence.""The data shows that while some markets, like New York City, are rapidly returning to traditional office settings, the national picture reflects slow but steady progress,"" said Ryan Masiello, chief strategy officer of VTS.Nationally, demand in the fourth quarter was up 12% from the previous quarter. Historically, demand declines from the third quarter to the fourth quarter.""This growth is notable — not only for defying seasonal expectations, but for emerging in the midst of a cooling labor market. Businesses appear more willing to invest in office space despite economic uncertainty, signaling a shift in confidence and long-term planning,"" Masiello said.",CNBC,31/01/2025,"['In this articleDemand for New York City office space has finally returned to pre-pandemic levels, driven by an influx of new workers as well as a drive by employers to see current workers return to the office.', 'During the fourth quarter, office demand in the city jumped 25% from the year before, according to VTS, which measures demand through unique new tenant tours of properties.', 'The measure is an early indicator of new leasing.', '""New York City\'s shift back to in-office work reflects the city\'s unique cultural and economic dynamics, especially in the finance and tech sectors,"" said Nick Romito, CEO of VTS, in a news release.', 'SL Green Realty Corp., a real estate investment trust, or REIT, concentrated in Manhattan office and retail, released earnings last week, and while it missed revenue expectations, analysts pointed to further tightening in the office market as leasing demand accelerates.', ""On a call with analysts, SL Green Realty CEO Marc Holliday noted thatthe city's Office of Management and Budget is forecasting about 38,000 new office-using jobs in 2025, mostly stemming from finance, business services and information technology."", '""That translates into millions and millions of square feet of new absorption for each one of those bodies, and those are not work-from-home bodies for the most part,"" said Holliday. ""', 'Combine that with the fact that on-site attendance is rising every month as companies are calling people back to the office four and five days a week.', 'We expect to see very strong demand for office space throughout 2025,"" Holliday added.', 'Holliday also noted SL Green ended the year at 92.5% occupancy, and is projecting more than 93% leased occupancy over the coming year.', ""Tech giant IBM recently signed a 92,663-square-foot expansion lease with SL Green at One Madison Avenue, increasing IBM's total footprint at the property to more than 362,000 square feet."", '""The expansion of IBM\'s flagship office at One Madison Avenue reaffirms a long-standing commitment to advance the technology sector in New York City and New York State, with a vibrant and collaborative workspace designed to bring employees, clients and partners together from around the world,"" saidJoanne Wright, IBM senior vice president for transformation and operations, in a release.', 'New York is the clear winner in the office recovery, but VTS notes other improving markets.', ""San Francisco saw a 32% annual growth rate in demand, a faster growth rate than New York's, though it was starting at a much weaker position."", 'Seattle and Chicago saw growth rates of around 15% each as employers in those cities increasingly embrace hybrid work models that require consistent in-office presence.', '""The data shows that while some markets, like New York City, are rapidly returning to traditional office settings, the national picture reflects slow but steady progress,"" said Ryan Masiello, chief strategy officer of VTS.Nationally, demand in the fourth quarter was up 12% from the previous quarter.', 'Historically, demand declines from the third quarter to the fourth quarter.', '""This growth is notable — not only for defying seasonal expectations, but for emerging in the midst of a cooling labor market.', 'Businesses appear more willing to invest in office space despite economic uncertainty, signaling a shift in confidence and long-term planning,"" Masiello said.']",0.2373358636412649,"New York is the clear winner in the office recovery, but VTS notes other improving markets.","During the fourth quarter, office demand in the city jumped 25% from the year before, according to VTS, which measures demand through unique new tenant tours of properties.",0.8551942780613899,"""The data shows that while some markets, like New York City, are rapidly returning to traditional office settings, the national picture reflects slow but steady progress,"" said Ryan Masiello, chief strategy officer of VTS.Nationally, demand in the fourth quarter was up 12% from the previous quarter.","Historically, demand declines from the third quarter to the fourth quarter.",2025-02-01
+Levi beats earnings estimates but expects pressure this year from strong U.S. dollar,https://www.cnbc.com/2025/01/29/levi-strauss-levi-earnings-q4-2024.html,2025-01-29T22:04:22+0000,"In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses. The company said it expects sales to decline between 1% and 2%, well behind estimates of 3.7% growth, according to LSEG. It also anticipates adjusted earnings per share will be between $1.20 and $1.25, below estimates of $1.37, according to LSEG. Shares fell about 6% in extended trading.CEO Michelle Gass told CNBC the expected drop in revenue in the current fiscal year does not reflect slower demand, but is more due to the currency trends, one fewer fiscal week and the divested businesses.Levi ended fiscal 2024 on a high note and reported earnings and sales that both topped expectations. Here is how the apparel company fared during its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Dec. 1 was $182.6 million, or 46 cents per share, compared with $126.8 million, or 32 cents per share, a year earlier. Excluding one-time expenses related to impairments, restructurings, acquisitions and leases, among other items, Levi reported adjusted net income of $202 million, or 50 cents per share, compared with adjusted profits of $179 million, or 44 cents per share, a year earlier. Sales rose to $1.84 billion, up about 12% from $1.64 billion a year earlier. Organic sales, which exclude an extra 53rd week Levi had during the quarter, along with foreign exchange effects and divested businesses, grew 8%. Since Gass took the helm of Levi a year ago, she has moved swiftly to cut aspects of the business that weren't working, grow higher margin sales on its website and stores, boost profitability and bring more female customers to the brand. Under her leadership, Levi inked a high-profile marketing partnership with Beyonce in September after she released a song about the brand on her album ""Cowboy Carter"" earlier in the year. ""Of course, we have to acknowledge the Beyonce effect. We are very pleased with the launch of that campaign, which we're seeing drive demand across the business,"" Gass said in an interview with CNBC.Gass has been working to bring more women to Levi, which traditionally has drawn more men, because women tend to spend more money and shop for new clothes more often. Women's apparel is now about 36% of Levi's overall business, up slightly from a year ago, but Gass said it should represent about half over time.The company has won female shoppers over not only with loose and wide-legged denim fits, but also with a wide range of new tops such as woven shirts and blouses. During the quarter, Levi saw strong sales increases across all of its regions, brands and channels. Sales in the Americas grew 12%, Europe increased 15% and Asia expanded 9%. Sales for its Beyond Yoga brand spiked 10%. Direct-to-consumer sales increased 19% and made up 45% of total organic net sales, which includes the extra selling week, currency fluctuations and the divested businesses. Wholesale revenues, which have been soft across the industry, grew 7% during the quarter. Since President Donald Trump was elected for a second term, all eyes have been on the retail industry to see what kind of effect his proposed tariffs could have on consumer prices and company profits. Levi's finance chief Harmit Singh said the company sources its products from 25 countries and less than 1% of it comes from China, which Trump has threatened with 10% tariffs. In Canada and Mexico, where Trump has suggested duties as high as 25%, Levi's exposure is minimal, as it only imports about 5% of products from Mexico and nothing from Canada. When asked if the company will raise prices if broad-based tariffs are implemented, Singh said it plans to work with its suppliers and look at its own costs so it can spare consumers as much as possible. The ""first objective would be to minimize the impact on the consumer. So we work internally with our suppliers, we look at our cost base, we look at other pricing opportunities and if we cannot cover it, obviously we got to protect the structural economics of the business,"" said Singh. ""At that point, we'll decide, you know, what should be passed on to the consumer or not, but we won't start from that. That's where we will end.""During the quarter, Levi posted what it called a record gross margin of 61.3%, up from 57.8% in the year-ago period, driven by lower product costs, higher full price sales and a better mix between direct and wholesale revenue. Still, Levi reported $111.4 million in impairment charges related to its Beyond Yoga brand for fiscal 2024, on top of the $90.2 million it reported in fiscal 2023, bringing those costs to $201.6 million in the years since it acquired the athleisure company in 2021 for $400 million. The brand and yoga category overall is growing, but Singh said Levi was potentially a bit ""aggressive"" in its expectations ""of how quickly the brand could grow."" The good news, he said, is Beyond Yoga is now led by Nancy Green, the former CEO of Gap's Athleta, who is credited with scaling the athleisure brand into a billion-dollar business. ""It's a category that's growing big time. I know there are other competitors, but we feel good about the management team and good about the potential growth for the business,"" said Singh.",CNBC,29/01/2025,"['In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses.', 'The company said it expects sales to decline between 1% and 2%, well behind estimates of 3.7% growth, according to LSEG.It also anticipates adjusted earnings per share will be between $1.20 and $1.25, below estimates of $1.37, according to LSEG.Shares fell about 6% in extended trading.', 'CEO Michelle Gass told CNBC the expected drop in revenue in the current fiscal year does not reflect slower demand, but is more due to the currency trends, one fewer fiscal week and the divested businesses.', 'Levi ended fiscal 2024 on a high note and reported earnings and sales that both topped expectations.', ""Here is how the apparel company fared during its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Dec. 1 was $182.6 million, or 46 cents per share, compared with $126.8 million, or 32 cents per share, a year earlier."", 'Excluding one-time expenses related to impairments, restructurings, acquisitions and leases, among other items, Levi reported adjusted net income of $202 million, or 50 cents per share, compared with adjusted profits of $179 million, or 44 cents per share, a year earlier.', 'Sales rose to $1.84 billion, up about 12% from $1.64 billion a year earlier.', ""Organic sales, which exclude an extra 53rd week Levi had during the quarter, along with foreign exchange effects and divested businesses, grew 8%.Since Gass took the helm of Levi a year ago, she has moved swiftly to cut aspects of the business that weren't working, grow higher margin sales on its website and stores, boost profitability and bring more female customers to the brand."", 'Under her leadership, Levi inked a high-profile marketing partnership with Beyonce in September after she released a song about the brand on her album ""Cowboy Carter"" earlier in the year.', '""Of course, we have to acknowledge the Beyonce effect.', 'We are very pleased with the launch of that campaign, which we\'re seeing drive demand across the business,"" Gass said in an interview with CNBC.Gass has been working to bring more women to Levi, which traditionally has drawn more men, because women tend to spend more money and shop for new clothes more often.', ""Women's apparel is now about 36% of Levi's overall business, up slightly from a year ago, but Gass said it should represent about half over time."", 'The company has won female shoppers over not only with loose and wide-legged denim fits, but also with a wide range of new tops such as woven shirts and blouses.', 'During the quarter, Levi saw strong sales increases across all of its regions, brands and channels.', 'Sales in the Americas grew 12%, Europe increased 15% and Asia expanded 9%.', 'Sales for its Beyond Yoga brand spiked 10%.', 'Direct-to-consumer sales increased 19% and made up 45% of total organic net sales, which includes the extra selling week, currency fluctuations and the divested businesses.', 'Wholesale revenues, which have been soft across the industry, grew 7% during the quarter.', 'Since President Donald Trump was elected for a second term, all eyes have been on the retail industry to see what kind of effect his proposed tariffs could have on consumer prices and company profits.', ""Levi's finance chief Harmit Singh said the company sources its products from 25 countries and less than 1% of it comes from China, which Trump has threatened with 10% tariffs."", ""In Canada and Mexico, where Trump has suggested duties as high as 25%, Levi's exposure is minimal, as it only imports about 5% of products from Mexico and nothing from Canada."", 'When asked if the company will raise prices if broad-based tariffs are implemented, Singh said it plans to work with its suppliers and look at its own costs so it can spare consumers as much as possible.', 'The ""first objective would be to minimize the impact on the consumer.', 'So we work internally with our suppliers, we look at our cost base, we look at other pricing opportunities and if we cannot cover it, obviously we got to protect the structural economics of the business,"" said Singh. ""', ""At that point, we'll decide, you know, what should be passed on to the consumer or not, but we won't start from that."", ""That's where we will end."", '""During the quarter, Levi posted what it called a record gross margin of 61.3%, up from 57.8% in the year-ago period, driven by lower product costs, higher full price sales and a better mix between direct and wholesale revenue.', 'Still, Levi reported $111.4 million in impairment charges related to its Beyond Yoga brand for fiscal 2024, on top of the $90.2 million it reported in fiscal 2023, bringing those costs to $201.6 million in the years since it acquired the athleisure company in 2021 for $400 million.', 'The brand and yoga category overall is growing, but Singh said Levi was potentially a bit ""aggressive"" in its expectations ""of how quickly the brand could grow.', '""The good news, he said, is Beyond Yoga is now led by Nancy Green, the former CEO of Gap\'s Athleta, who is credited with scaling the athleisure brand into a billion-dollar business.', '""It\'s a category that\'s growing big time.', 'I know there are other competitors, but we feel good about the management team and good about the potential growth for the business,"" said Singh.']",0.1865124968863482,"I know there are other competitors, but we feel good about the management team and good about the potential growth for the business,"" said Singh.","In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses.",0.6506836305965077,"Organic sales, which exclude an extra 53rd week Levi had during the quarter, along with foreign exchange effects and divested businesses, grew 8%.Since Gass took the helm of Levi a year ago, she has moved swiftly to cut aspects of the business that weren't working, grow higher margin sales on its website and stores, boost profitability and bring more female customers to the brand.","In this articleLevi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses.",2025-02-01
+GM stock falls even as company beats analyst expectations on earnings,https://www.cnbc.com/2025/01/28/general-motors-gm-earnings-q4-2024.html,2025-01-28T21:05:29+0000,"In this articleDETROIT — General Motors stock fell more than 8% in trading Tuesday even as the company beat Wall Street's top- and bottom-line expectations for the fourth quarter, while forecasting continued strong results for 2025.Concerns of Wall Street analysts on the company's quarterly earnings call focused on the automaker's preparation for changes under the Trump administration, including the impacts of potential tariffs on vehicle production and policy changes on electric vehicle sales and pricing, signaling an overhang on the auto industry.Wall Street analysts have said there's a lack of enthusiasm by investors for the U.S. automotive industry amid a slowdown in electric vehicles and autonomous vehicles, as well as regulatory volatility.The Detroit automaker believes it can have another solid year despite industry sales slowing, a restructuring of its operations in China, and increased geopolitical and regulatory uncertainty in the U.S. as President Donald Trump begins his second term. GM's 2025 guidance includes net income attributable to stockholders of $11.2 billion to $12.5 billion, or $11 to $12 in earnings per share; adjusted earnings before interest and taxes (EBIT) of $13.7 billion to $15.7 billion, or $11 to $12 adjusted EPS; and adjusted automotive free cash flow between $11 billion and $13 billion.""In our view, the guidance for 2025 leaves no room for errors, and also does not include impact from regulatory changes in the U.S., especially on tariffs and BEV support,"" analysts at Bernstein said in a note.GM's 2025 financial guidance met or exceeded many forecasts from Wall Street analysts. Most notably, analysts were expecting adjusted earnings of around $14 billion.That compares with the automaker's 2024 results of adjusted EBIT of $14.9 billion, or $10.60 adjusted EPS, and net income attributable to stockholders of $6 billion, or $6.37 EPS. The adjusted figures and the $14 billion in adjusted auto free cash flow were records for the automaker, GM said. GM CFO Paul Jacobson said the company's 2025 guidance does not take into account any potential regulatory changes such as tariffs on vehicle imports or tax reform.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:GM's $47.7 billion in revenue in the fourth quarter was up 11% from the same period last year.Jacobson said the company's 2024 performance was ""outstanding,"" citing growth in its EV and traditional internal combustion engine businesses. GM lost $2.96 billion, or $1.64 per share, in the fourth quarter, which ended Dec. 31, compared with earnings of $2.1 billion, or $1.59 per share, in the same period a year earlier.GM's quarterly results include $5 billion in special charges such as $4 billion in noncash restructuring charges related to its operations in China and $500 million in charges related to the decision to stop funding its Cruise robotaxi business. Excluding those charges and other items, GM earned $1.92 per share in the fourth quarter.GM CEO Mary Barra said during the company's investor call that it has a proposed restructuring plan to refocus its autonomous driving business on personal vehicles and expects annual run rate savings of about $1 billion from shutting down robotaxi development.GM's $6 billion in net income attributable to stockholders for the full year 2024 was down 40.7% from 2023.GM last month said it expected a restructuring of its joint venture operations with SAIC Motor Corp. in China to cost more than $5 billion in noncash charges and write-downs, most of which occurred during the fourth quarter.GM's revenue last year increased to $187.44 billion, up 9.1% from 2023.GM's North American operations continued their yearslong trend of carrying the automaker's earnings. Its North American adjusted earnings increased 18.1% compared with 2023 to $14.53 billion, which equates to a 9.2% adjusted profit margin.The Detroit automaker's international operations — such as South Korea, Brazil and the Middle East — reported adjusted earnings of $303 million last year, down by 75% compared with 2023. Its equity income from China was a loss of $4.41 billion, largely due to the restructuring actions.""In China, we reported positive equity income for the fourth quarter before restructuring costs, and we're taking steps with our partner to improve from there,"" GM CEO Mary Barra said in a letter to shareholders.Jacobson reiterated that the company expects to restructure the operations without injecting more capital from the U.S. into China.Aside from its financial results, GM said it expects to continue rolling out new products to assist its sales and earnings. That includes electric vehicles, which the company said reached a targeted profitability on a production basis during the fourth quarter.GM expects a $2 billion to $4 billion improvement this year compared with 2024, based on wholesale volumes of about 300,000 EVs. That would be a roughly 59% increase from the 189,000 units in 2024 — slightly below a previously announced target of 200,000 EVs, as the automaker attempted to lower its days' supply toward the end of the year.""We do think that we can grow our EV demand,"" Jacobson said. ""We're going to continue to see how EV adoption progresses in 2025, but the 300,000 is the assumption that we base on being at the low end of the $2 billion to $4 billion of profit improvement.""GM said it's expecting improvements on scale, fixed cost absorption, and a continued focus on cell and vehicle cost reductions to drive improved earnings for EVs next year.Additionally in 2025, Jacobson said GM will continue to look for opportunities to return value to shareholders as well as pay down the company's automotive debt, including $1.75 billion that matures this year. He said the company early retired $750 million in debt in December in addition to completing stock repurchases to lower its outstanding share count to below 1 billion to end the year.For the entire U.S. industry, Jacobson said GM expects new vehicle sales to be relatively level this year compared with last at more than 16 million vehicles. The Detroit automaker expects vehicle pricing, which has come down from record highs of recent years, to decline between 1% and 1.5%.Barra, in her shareholder letter, noted the current ""uncertainty over trade, tax, and environmental regulations"" could impact the automaker's business.She said the company has been ""proactive with Congress and the administration"" about the importance of U.S. manufacturing and ""American leadership in advanced technologies.""""It's clear that we share a lot of common ground, and we appreciate the dialogue,"" said Barra, who spoke with Trump before his inauguration. ""Whatever happens on these fronts, we have a broad and deep portfolio of [internal combustion engine] vehicles and EVs that are both growing market share, and we'll be agile and execute as efficiently as possible.""GM previously told CNBC that Barra's conversation with Trump was ""friendly and productive.""Trump has discussed implementing a 25% tariff on goods from Canada and Mexico, which could affect vehicles that are imported to the U.S.Most major automakers have factories in the U.S. However, they still heavily rely on imports from other countries, including Mexico, to meet American consumer demand.",CNBC,28/01/2025,"[""In this articleDETROIT — General Motors stock fell more than 8% in trading Tuesday even as the company beat Wall Street's top- and bottom-line expectations for the fourth quarter, while forecasting continued strong results for 2025.Concerns of Wall Street analysts on the company's quarterly earnings callfocused on the automaker's preparation for changes under the Trump administration, including the impacts of potential tariffs on vehicle production and policy changes on electric vehicle sales and pricing, signaling an overhang on the auto industry."", ""Wall Street analysts have said there's a lack of enthusiasm by investors for the U.S. automotive industry amid a slowdown in electric vehicles andautonomous vehicles,as well asregulatory volatility."", 'The Detroit automaker believes it can have another solid year despite industry sales slowing, a restructuring of its operations in China, and increased geopolitical and regulatory uncertainty in the U.S. as President Donald Trump begins his second term.', ""GM's 2025 guidance includes net income attributable to stockholders of $11.2 billion to $12.5 billion, or $11 to $12 in earnings per share; adjusted earnings before interest and taxes (EBIT) of $13.7 billion to $15.7 billion, or $11 to $12 adjusted EPS; and adjusted automotive free cash flow between $11 billion and $13 billion."", '""In our view, the guidance for 2025 leaves no room for errors, and also does not include impact from regulatory changes in the U.S., especially on tariffs and BEV support,"" analysts at Bernstein said in a note.', ""GM's 2025 financial guidance met or exceeded many forecasts from Wall Street analysts."", 'Most notably, analysts were expecting adjusted earnings of around $14 billion.', ""That compares with the automaker's 2024 results of adjusted EBIT of $14.9 billion, or $10.60 adjusted EPS, and net income attributable to stockholders of $6 billion, or $6.37 EPS."", 'The adjusted figures and the $14 billion in adjusted auto free cash flow were records for the automaker, GM said.', ""GM CFO Paul Jacobson said the company's 2025 guidance does not take into account any potential regulatory changes such as tariffs on vehicle imports or tax reform."", ""Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:GM's $47.7 billion in revenue in the fourth quarter was up 11% from the same period last year."", 'Jacobson said the company\'s 2024 performance was ""outstanding,"" citing growth in its EV and traditional internal combustion engine businesses.', 'GM lost $2.96 billion, or $1.64 per share, in the fourth quarter, which ended Dec. 31, compared with earnings of $2.1 billion, or $1.59 per share, in the same period a year earlier.', ""GM's quarterly results include $5 billion in special charges such as$4 billionin noncash restructuring charges related to its operations in China and $500 million in charges related to the decision to stop funding its Cruise robotaxi business."", 'Excluding those charges and other items, GM earned $1.92 per share in the fourth quarter.', ""GM CEO Mary Barra said during the company's investor call that it has a proposed restructuring plan to refocus its autonomous driving business on personal vehicles and expects annual run rate savings of about $1 billion from shutting down robotaxi development."", ""GM's $6 billion in net income attributable to stockholders for the full year 2024 was down 40.7% from 2023.GM last month said it expected a restructuring of its joint venture operations with SAIC Motor Corp. in China to cost more than $5 billion in noncash charges and write-downs, most of which occurred during the fourth quarter."", ""GM's revenue last year increased to $187.44 billion, up 9.1% from 2023.GM's North American operations continued their yearslong trend of carrying the automaker's earnings."", 'Its North American adjusted earnings increased 18.1% compared with 2023 to $14.53 billion, which equates to a 9.2% adjusted profit margin.', ""The Detroit automaker's international operations — such as South Korea, Brazil and the Middle East — reported adjusted earnings of $303 million last year, down by 75% compared with 2023."", 'Its equity income from China was a loss of $4.41 billion, largely due to the restructuring actions.', '""In China, we reported positive equity income for the fourth quarter before restructuring costs, and we\'re taking steps with our partner to improve from there,"" GM CEO Mary Barra said in a letter to shareholders.', 'Jacobson reiterated that the company expects to restructure the operations without injecting more capital from the U.S. into China.', 'Aside from its financial results, GM said it expects to continue rolling out new products to assist its sales and earnings.', 'That includes electric vehicles, which the company said reached a targeted profitability on a production basis during the fourth quarter.', 'GM expects a $2 billion to $4 billion improvement this year compared with 2024, based on wholesale volumes of about300,000 EVs.', ""That would be a roughly 59% increase from the 189,000 units in 2024 — slightly below a previously announced target of 200,000 EVs, as the automaker attempted to lower its days' supply toward the end of the year."", '""We do think that we can grow our EV demand,"" Jacobson said. ""', ""We're going to continue to see how EV adoption progresses in 2025, but the 300,000 is the assumption that we base on being at the low end of the $2 billion to $4 billion of profit improvement."", '""GM said it\'s expecting improvements on scale, fixed cost absorption, and a continued focus on cell and vehicle cost reductions to drive improved earnings for EVs next year.', ""Additionally in 2025, Jacobson said GM will continue to look for opportunities to return value to shareholders as well as pay down thecompany's automotivedebt, including $1.75 billion that matures this year."", 'He said the company early retired $750 million in debt in December in addition to completing stock repurchases to lower its outstanding share count to below 1 billion to end the year.', 'For the entire U.S. industry, Jacobson said GM expects new vehicle sales to be relatively level this year compared with last at more than 16 million vehicles.', 'The Detroit automaker expects vehicle pricing, which has come down from record highs of recent years, to decline between 1% and 1.5%.Barra, in her shareholder letter, noted the current ""uncertainty over trade, tax, and environmental regulations"" could impact the automaker\'s business.', 'She said the company has been ""proactive with Congress and the administration"" about the importance of U.S. manufacturing and ""American leadership in advanced technologies.', '""""It\'s clear that we share a lot of common ground, and we appreciate the dialogue,"" said Barra, who spoke with Trump before his inauguration. ""', ""Whatever happens on these fronts, we have a broad and deep portfolio of [internal combustion engine] vehicles and EVs that are both growing market share, and we'll be agile and execute as efficiently as possible."", '""GM previously told CNBC that Barra\'s conversation with Trump was ""friendly and productive.', '""Trump has discussed implementing a 25% tariff on goods from Canada and Mexico, which could affect vehicles that are imported to the U.S.Most major automakers have factories in the U.S. However, they still heavily rely on imports from other countries, including Mexico, to meet American consumer demand.']",0.2306191398906844,"GM's 2025 guidance includes net income attributable to stockholders of $11.2 billion to $12.5 billion, or $11 to $12 in earnings per share; adjusted earnings before interest and taxes (EBIT) of $13.7 billion to $15.7 billion, or $11 to $12 adjusted EPS; and adjusted automotive free cash flow between $11 billion and $13 billion.",GM's quarterly results include $5 billion in special charges such as$4 billionin noncash restructuring charges related to its operations in China and $500 million in charges related to the decision to stop funding its Cruise robotaxi business.,0.3839311370482811,"GM's revenue last year increased to $187.44 billion, up 9.1% from 2023.GM's North American operations continued their yearslong trend of carrying the automaker's earnings.","In this articleDETROIT — General Motors stock fell more than 8% in trading Tuesday even as the company beat Wall Street's top- and bottom-line expectations for the fourth quarter, while forecasting continued strong results for 2025.Concerns of Wall Street analysts on the company's quarterly earnings callfocused on the automaker's preparation for changes under the Trump administration, including the impacts of potential tariffs on vehicle production and policy changes on electric vehicle sales and pricing, signaling an overhang on the auto industry.",2025-02-01
+Deadly American Airlines-helicopter collision highlights concerns with crowded U.S. airspace,https://www.cnbc.com/2025/01/30/american-airlines-plane-crash-military-helicopter-airspace.html,2025-01-31T14:22:05+0000,"In this articleAs rescuers continued retrieving bodies out of the frigid Potomac River on Thursday, the deadliest commercial air disaster in the U.S. since 2001 is bringing long-brewing concerns over congested U.S. airspace into a full-blown crisis.Just before 9 p.m. ET on Wednesday, an American Airlines regional jet collided with a military helicopter near Washington, D.C.'s Reagan National Airport. There were no survivors on either the Bombardier CRJ700 regional jet, which carried 60 passengers and four crew members, or on the Army Black Hawk helicopter, which was carrying three people, officials said.A series of close calls at airports in recent years has raised alarms among airlines, regulators and lawmakers. It is not immediately clear what led to the deadly collision on Wednesday. A full investigation could take months, if not longer than a year. Officials on Thursday did not blame air traffic control for the deadly crash.In one of the recent incidents that raised concerns, a JetBlue Airways plane starting its takeoff roll at Reagan National Airport in April came within a few hundred feet of a Southwest Airlines flight, which was told to cross the runway.Despite those close calls, there has not been a major fatal commercial airplane crash on U.S. soil since February 2009. Wednesday's crash was the deadliest since November 2001.""The system is as safe as it has ever been,"" Southwest Airlines CEO Bob Jordan said in an interview with CNBC's ""Squawk on the Street"" on Thursday morning.Airline executives have pushed consecutive administrations to modernize air traffic control and hire more staffers to help alleviate congestion in some of the busiest corridors in the U.S. Ronald Reagan Washington National Airport's main runway is the busiest in the U.S., according to the area's airport authority.""The system has been in need of modernization for literally decades now,"" Jordan said. ""You've got equipment that goes back to the 1960s, and modernizing the equipment actually allows for better management of the airspace, more throughput, so more efficiency.""",CNBC,31/01/2025,"['In this articleAs rescuers continued retrieving bodies out of the frigid Potomac River on Thursday, the deadliest commercial air disaster in the U.S. since 2001 is bringing long-brewing concerns over congested U.S. airspace into a full-blown crisis.', ""Just before 9 p.m. ET on Wednesday, an American Airlines regional jet collided with a military helicopter near Washington, D.C.'s Reagan National Airport."", 'There were no survivors on either the Bombardier CRJ700 regional jet, which carried 60 passengers and four crew members, or on the Army Black Hawk helicopter, which was carrying three people, officials said.', 'A series of close calls at airports in recent years has raised alarms among airlines, regulators and lawmakers.', 'It is not immediately clear what led to the deadly collision on Wednesday.', 'A full investigation could take months, if not longer than a year.', 'Officials on Thursday did not blame air traffic control for the deadly crash.', 'In one of the recent incidents that raised concerns, a JetBlue Airways plane starting its takeoff roll at Reagan National Airport in April came within a few hundred feet of a Southwest Airlines flight, which was told to cross the runway.', 'Despite those close calls, there has not been a major fatal commercial airplane crash on U.S. soil since February 2009.', 'Wednesday\'s crash was the deadliest since November 2001.""The system is as safe as it has ever been,"" Southwest Airlines CEO Bob Jordan said in an interview with CNBC\'s ""Squawk on the Street"" on Thursday morning.', ""Airline executives have pushed consecutive administrations to modernize air traffic control and hire more staffers to help alleviate congestion in some of the busiest corridors in the U.S. Ronald Reagan Washington National Airport's main runway is the busiest in the U.S., according to the area's airport authority."", '""The system has been in need of modernization for literally decades now,"" Jordan said. ""', 'You\'ve got equipment that goes back to the 1960s, and modernizing the equipment actually allows for better management of the airspace, more throughput, so more efficiency.""']",-0.1262463838850265,"You've got equipment that goes back to the 1960s, and modernizing the equipment actually allows for better management of the airspace, more throughput, so more efficiency.""","In this articleAs rescuers continued retrieving bodies out of the frigid Potomac River on Thursday, the deadliest commercial air disaster in the U.S. since 2001 is bringing long-brewing concerns over congested U.S. airspace into a full-blown crisis.",0.0391943554083506,"Airline executives have pushed consecutive administrations to modernize air traffic control and hire more staffers to help alleviate congestion in some of the busiest corridors in the U.S. Ronald Reagan Washington National Airport's main runway is the busiest in the U.S., according to the area's airport authority.","A series of close calls at airports in recent years has raised alarms among airlines, regulators and lawmakers.",2025-02-01
+American Airlines collision with Army helicopter is worst U.S. air disaster since 2001,https://www.cnbc.com/2025/01/30/american-airlines-helicopter-collision-worst-air-disaster-in-years.html,2025-01-30T22:04:39+0000,"In this articleThe midair collision of a military helicopter and an American Airlines regional jetliner near Washington, D.C.'s Reagan National Airport on Wednesday night brings to an end a streak of commercial air travel safety that was unknown to previous generations.It is the deadliest air disaster on U.S. soil in more than 20 years.Officials said Thursday morning that they were shifting from a recovery effort to a rescue effort and that there were no survivors. Washington's Fire and EMS Chief John Donnelly said 27 bodies have been recovered so far.American Eagle Flight 5342 from Wichita, Kansas, was approaching Ronald Reagan Washington National Airport at an altitude of about 300 feet when a U.S. Army Black Hawk helicopter carrying three people collided with the commercial jetliner.Sixty-four people — 60 passengers and four crew members — were on board the American flight. The flight was operated by American subsidiary carrier PSA Airlines. The plane was a Bombardier CRJ700, a regional jet used for shorter routes.Rescuers had raced to recover passengers from the frigid waters of the Potomac River on Wednesday night, but local officials said conditions were challenging due to high winds.The U.S. has gone years without a fatal commercial airline crash. The last deadly U.S. commercial passenger airline crash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.The crash of that turboprop aircraft prompted federal regulations requiring more rest and training for pilots.The deadliest incident in recent memory was American Airlines Flight 587, an Airbus A300 that crashed in November 2001 shortly after it took off from New York's John F. Kennedy International Airport headed for the Dominican Republic. All 260 people on the flight were killed and five others died on the ground in Queens.Airplane crashes have become extremely rare, which safety experts often chalk up to overlapping and redundant safety measures.""It's extremely safe. Even with this accident I'll say it's extremely safe,"" said Jeff Guzzetti, a retired air safety investigator with the U.S. National Transportation Safety Board and the Federal Aviation Administration. The NTSB will lead an investigation into Wednesday's accident. It will include the FAA, American Airlines, crew members' labor unions and other parties.The NTSB will issue a preliminary report, but a final report that determines the cause or causes of an airplane crash can take months, if not more than a year.Investigators will examine air traffic control recordings, training records, and cockpit voice and data recorders if the black boxes are recovered, along with a host of other factors.The accident presents a challenge to President Donald Trump days into his new term. He has not yet named a candidate to become a permanent head of the Federal Aviation Administration after Biden-appointed Mike Whitaker stepped down Jan. 20, when Trump's term began.The FAA in 2023 laid out a plan designed to improve safety further and eliminate all ""close calls"" at airports.",CNBC,30/01/2025,"[""In this articleThe midair collision of a military helicopter and an American Airlines regional jetliner near Washington, D.C.'s Reagan National Airport on Wednesday night brings to an end a streak of commercial air travel safety that was unknown to previous generations."", 'It is the deadliest air disaster on U.S. soil in more than 20 years.', 'Officials said Thursday morning that they were shifting from a recovery effort to a rescue effort and that there were no survivors.', ""Washington's Fire and EMS Chief John Donnelly said 27 bodies have been recovered so far."", 'American Eagle Flight 5342from Wichita, Kansas, was approaching Ronald Reagan Washington National Airport at an altitude of about 300 feet when a U.S. Army Black Hawk helicopter carrying three people collided with the commercial jetliner.', 'Sixty-four people — 60 passengers and four crew members — were on board the American flight.', 'The flight was operated by American subsidiary carrier PSA Airlines.', 'The plane was a Bombardier CRJ700, a regional jet used for shorter routes.', 'Rescuers had raced to recover passengers from the frigid waters of the Potomac River on Wednesday night, but local officials said conditions were challenging due to high winds.', 'The U.S. has gone years without a fatal commercial airline crash.', 'The last deadly U.S. commercial passengerairlinecrash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.', 'The crash of that turboprop aircraft prompted federal regulations requiring more rest and training for pilots.', ""The deadliest incident in recent memory was American Airlines Flight 587, an Airbus A300 that crashed in November 2001 shortly after it took off from New York's John F. Kennedy International Airport headed for the Dominican Republic."", 'All 260 people on the flight were killed and five others died on the ground in Queens.', 'Airplane crashes have become extremely rare, which safety experts often chalk up to overlapping and redundant safety measures.', '""It\'s extremely safe.', 'Even with this accident I\'ll say it\'s extremely safe,"" said JeffGuzzetti, a retired air safety investigator with the U.S. National Transportation Safety Board and the Federal Aviation Administration.', ""The NTSB will lead an investigation into Wednesday's accident."", ""It will include the FAA, American Airlines, crew members' labor unions and other parties."", 'The NTSB will issue a preliminary report, but a final report that determines the cause or causes of an airplane crash can take months, if not more than a year.', 'Investigators will examine air traffic control recordings, training records, and cockpit voice and data recorders if the black boxes arerecovered, along with a host of other factors.', 'The accident presents a challenge to President Donald Trump days into his new term.', ""He has not yet named a candidate to become a permanent head of the Federal Aviation Administration after Biden-appointed Mike Whitaker stepped down Jan. 20, when Trump's term began."", 'The FAA in 2023 laid out a plan designed to improve safety further and eliminate all ""close calls"" at airports.']",-0.0306561848776776,"The FAA in 2023 laid out a plan designed to improve safety further and eliminate all ""close calls"" at airports.",All 260 people on the flight were killed and five others died on the ground in Queens.,-0.1227345551763262,"Even with this accident I'll say it's extremely safe,"" said JeffGuzzetti, a retired air safety investigator with the U.S. National Transportation Safety Board and the Federal Aviation Administration.","In this articleThe midair collision of a military helicopter and an American Airlines regional jetliner near Washington, D.C.'s Reagan National Airport on Wednesday night brings to an end a streak of commercial air travel safety that was unknown to previous generations.",2025-02-01
+"FDA approves Novo Nordisk's Ozempic to treat chronic kidney disease in those with diabetes, expanding its use",https://www.cnbc.com/2025/01/28/novo-nordisks-ozempic-wins-fda-approval-for-chronic-kidney-disease.html,2025-01-28T20:07:53+0000,"In this articleThe Food and Drug Administration on Tuesday approved Novo Nordisk's Ozempic to treat chronic kidney disease in patients who also have Type 2 diabetes, expanding the use of the wildly popular injection in the U.S. The drug is already widely used and covered to treat Type 2 diabetes. The FDA's decision means Ozempic can now be used to reduce the risk of kidney disease worsening, kidney failure, and death from cardiovascular disease in patients with both chronic kidney disease and diabetes.The decision could transform how doctors treat patients with chronic kidney disease, which involves a gradual loss of kidney function and is one of the leading causes of death in the U.S. Around 37 million American adults are living with chronic kidney disease, according to Novo Nordisk.Diabetes is a key risk factor for kidney disease. Roughly 40% of Type 2 diabetes patients have the condition, which can cause additional sickness such as increased risk of cardiovascular problems and death, Novo Nordisk said.""All chronic kidney disease is progressive. It's a year-on-year, relentless decline in renal function,"" Stephen Gough, Novo Nordisk's global chief medical officer, said in an interview, referring to the kidney's ability to filter waste from the blood.He noted that when the condition progresses to the point of kidney failure — also known as end-stage kidney disease — patients require long-term dialysis treatments to remove waste from the blood, or a kidney transplant. Both are burdensome, and death among patients with end-stage kidney disease is ""very high,"" particularly from cardiovascular disease, according to Gough.The approval also demonstrates that a blockbuster class of diabetes and weight loss drugs called GLP-1s have significant health benefits beyond regulating blood sugar and suppressing appetite. Ozempic reduced the risk of severe kidney outcomes — including kidney failure, reduction in kidney function, or death from kidney or heart causes — by 24% in diabetic patients with chronic kidney disease compared with a placebo, according to results of a late-stage trial that the approval was based on.In patients who took Ozempic, kidney function declined more slowly, the risk of major cardiovascular events such as heart attack dropped 18% and the risk of death from any cause fell 20% compared with the placebo. Ozempic also cut the risk of cardiovascular-related deaths by 29%.""We know that, unfortunately, cardiovascular disease and chronic kidney disease just go hand in hand,"" Gough said.He added that the major treatments patients typically receive when they have the earliest signs of chronic kidney disease aim to reduce cardiovascular risk factors by paying attention to blood pressure.The rate of serious adverse side effects was 49.6% in patients who took Ozempic, lower than the 53.8% seen in the group that received a placebo. There was a slightly higher rate of discontinuations among Ozempic patients due to gastrointestinal side effects commonly seen with GLP-1s, such as nausea and vomiting.EU regulators approved Ozempic for the same use in December. Novo Nordisk ended the phase three trial in October, a year earlier than expected, in response to positive results. At the time, the Danish company's announcement caused shares of kidney dialysis companies to plummet about 20% in a single day. The trial, called FLOW, started in 2019 and followed roughly 3,500 patients with diabetes and moderate to severe chronic kidney disease.""From my point of view as a doctor, you don't get [diabetes, obesity, chronic kidney disease and cardiovascular disease] in isolation,"" Gough said. ""These illnesses, unfortunately, co-segregate. They cluster within the same individuals. So if you have a medicine that can target each of these co-morbidities in one injection, then you're addressing what really matters to the patient.""The approval comes after the Biden administration selected three of Novo Nordisk's drugs with the active ingredient semaglutide for the second cycle of Medicare drug price negotiations. That includes Ozempic, its weight loss counterpart Wegovy and another diabetes treatment called Rybelsus.  The FDA's decision also comes as Novo Nordisk faces increased competition from Eli Lilly and tries to win expanded insurance coverage for Wegovy.Last year, Wegovy won approval in the U.S. for use in slashing the risk of major cardiovascular events such as heart attacks and strokes. Novo Nordisk is also studying Wegovy as a potential treatment for fatty liver disease.",CNBC,28/01/2025,"[""In this articleThe Food and Drug Administration on Tuesday approved Novo Nordisk's Ozempic to treat chronic kidney disease in patients who also have Type 2 diabetes, expanding the use of the wildly popular injection in the U.S.The drug is already widely used and covered to treat Type 2 diabetes."", ""The FDA's decision means Ozempic can now be used to reduce the risk of kidney disease worsening, kidney failure, and death from cardiovascular disease in patients with both chronic kidney disease and diabetes."", 'The decision could transform how doctors treat patients with chronic kidney disease, which involves a gradual loss of kidney function and is one of the leading causes of death in the U.S.Around 37 million American adults are living with chronic kidney disease, according to Novo Nordisk.', 'Diabetes is a key risk factor for kidney disease.', 'Roughly 40% of Type 2 diabetes patients have the condition, which can cause additional sickness such as increased risk of cardiovascular problems and death, Novo Nordisk said.', '""All chronic kidney disease is progressive.', 'It\'s a year-on-year, relentless decline in renal function,"" Stephen Gough, Novo Nordisk\'s global chief medical officer, said in an interview, referring to the kidney\'s ability to filter waste from the blood.', 'He noted that when the condition progresses to the point of kidney failure — also known as end-stage kidney disease — patients require long-term dialysis treatments to remove waste from the blood, or a kidney transplant.', 'Both are burdensome, and death among patients with end-stage kidney disease is ""very high,"" particularly from cardiovascular disease, according to Gough.', 'The approval also demonstrates that a blockbuster class of diabetes and weight loss drugs called GLP-1s have significant health benefits beyond regulating blood sugar and suppressing appetite.', 'Ozempic reduced the risk of severe kidney outcomes — including kidney failure, reduction in kidney function, or death from kidney or heart causes — by 24% in diabetic patients with chronic kidney disease compared with a placebo, according to results of a late-stage trial that the approval was based on.', 'In patients who took Ozempic, kidney function declined more slowly, the risk of major cardiovascular events such as heart attack dropped 18% and the risk of death from any cause fell 20% compared with the placebo.', 'Ozempic also cut the risk of cardiovascular-related deaths by 29%.""We know that, unfortunately, cardiovascular disease and chronic kidney disease just go hand in hand,"" Gough said.', 'He added that the major treatments patients typically receive when they have the earliest signs of chronic kidney disease aim to reduce cardiovascular risk factors by paying attention to blood pressure.', 'The rate of serious adverse side effects was 49.6% in patients who took Ozempic, lower than the 53.8% seen in the group that received a placebo.', 'There was a slightly higher rate of discontinuations among Ozempic patients due to gastrointestinal side effects commonly seen with GLP-1s, such as nausea and vomiting.', 'EU regulators approved Ozempic for the same use in December.', 'Novo Nordisk ended the phase three trial in October, a year earlier than expected, in response to positive results.', ""At the time, the Danish company's announcement caused shares of kidney dialysis companies to plummet about 20% in a single day."", 'The trial, called FLOW, started in 2019 and followed roughly 3,500 patients with diabetes and moderate to severe chronic kidney disease.', '""From my point of view as a doctor, you don\'t get [diabetes, obesity, chronic kidney disease and cardiovascular disease] in isolation,"" Gough said. ""', 'These illnesses, unfortunately, co-segregate.', 'They cluster within the same individuals.', ""So if you have a medicine that can target each of these co-morbidities in one injection, then you're addressing what really matters to the patient."", '""The approval comes after the Biden administration selected three of Novo Nordisk\'s drugs with the active ingredient semaglutide for the second cycle of Medicare drug price negotiations.', 'That includes Ozempic, its weight loss counterpart Wegovy and another diabetes treatment called Rybelsus.', ""The FDA's decision also comes as Novo Nordisk faces increased competition from Eli Lilly and tries to win expanded insurance coverage for Wegovy."", 'Last year, Wegovy won approval in the U.S. for use in slashing the risk of major cardiovascular events such as heart attacks and strokes.', 'Novo Nordisk is also studying Wegovy as a potential treatment for fatty liver disease.']",-0.130884842704226,"In this articleThe Food and Drug Administration on Tuesday approved Novo Nordisk's Ozempic to treat chronic kidney disease in patients who also have Type 2 diabetes, expanding the use of the wildly popular injection in the U.S.The drug is already widely used and covered to treat Type 2 diabetes.","The FDA's decision means Ozempic can now be used to reduce the risk of kidney disease worsening, kidney failure, and death from cardiovascular disease in patients with both chronic kidney disease and diabetes.",0.3085689147313435,"Last year, Wegovy won approval in the U.S. for use in slashing the risk of major cardiovascular events such as heart attacks and strokes.","At the time, the Danish company's announcement caused shares of kidney dialysis companies to plummet about 20% in a single day.",2025-02-01
+WNBA files trademark application to bring back 'Detroit Shock' as city submits expansion bid,https://www.cnbc.com/2025/01/31/wnba-detroit-team-bid-trademark.html,2025-01-31T17:59:30+0000,"As cities across the country vie for the next Women's National Basketball Association team, the league quietly filed a trademark application this week for the name ""Detroit Shock.""The filing, dated Thursday, notes the intended use is for a basketball team, merchandise, jerseys and in-arena signage that could appear on TV or radio broadcasts. It could offer clues into the league's ultimate decision for the location of a new franchise.On Friday, Detroit Pistons owner Tom Gores submitted a bid for the Motor City to host a new team. The ownership group would be led by Gores and also includes Detroit Lions principal owner and chair Sheila Ford Hamp; former Detroit Pistons stars Grant Hill and Chris Webber; General Motors CEO Mary Barra; and Detroit Lions quarterback Jared Goff.""Detroit is a sports town that loves its teams deeply and consistently shows up with unwavering passion,"" Gores said in a statement.The WNBA and Detroit Pistons did not immediately respond to CNBC's request for comment on the trademark application.The new trademark application by the WNBA is the only submission from the professional women's basketball league since early December, according to Josh Gerben, a trademark attorney at Gerben IP, who is not involved with the specific filing.Unlike other professional sports leagues where individual teams own their own trademark filings, the WNBA holds the rights to all names and logos for the league's franchises, according to Gerben.""Circumstantial evidence would be that [Detroit's] is a winning bid and they're very much planning on getting this going to have filed that trademark application,"" Gerben told CNBC.However, Gerben said the filing could also be a way for the league to protect itself against ""squatters"" or others trying to use the name.Another trademark application was filed for the ""Detroit Shock"" by an individual named Ryan Reed in July 2023, but that trademark has yet to be approved. A person with the same name, purportedly based in Detroit, identifies as the founder of a women's basketball league on LinkedIn.The Detroit Shock were a WNBA team based in Auburn Hills, Michigan, from 1998 to 2009. The team won three WNBA Championships in 2003, 2006 and 2008. In 2009, the franchise moved to Tulsa, Oklahoma, where they played until 2015. Today, they play in Arlington, Texas, as the Dallas Wings.WNBA Commissioner Cathy Engelbert said at the WNBA Finals in October that at least 10 cities had expressed interest in launching an expansion team.""We're not in a huge rush. We'd like to bring it in '27 or no later than '28,"" Engelbert said at the time in regard to adding a 16th team.Cleveland, Kansas City, Philadelphia, St. Louis, Houston, Austin, Nashville and Milwaukee are among the locations seeking to bring women's professional basketball to their cities.",CNBC,31/01/2025,"['As cities across the country vie for the next Women\'s National Basketball Association team, the league quietly filed a trademark application this week for the name ""Detroit Shock.', '""The filing, dated Thursday, notes the intended use is for a basketball team, merchandise, jerseys and in-arena signage that could appear on TV or radio broadcasts.', ""It could offer clues into the league's ultimate decision for the location of a new franchise."", 'On Friday, Detroit Pistons owner Tom Gores submitted a bid for the Motor City to host a new team.', 'The ownership group would be led by Gores and also includes Detroit Lions principal owner and chair Sheila Ford Hamp; former Detroit Pistons stars Grant Hill and Chris Webber; General Motors CEO Mary Barra; and Detroit Lions quarterback Jared Goff.', '""Detroit is a sports town that loves its teams deeply and consistently shows up with unwavering passion,"" Gores said in a statement.', ""The WNBA and Detroit Pistons did not immediately respond to CNBC's request for comment on the trademark application."", ""The new trademark application by the WNBA is the only submission from the professional women's basketball league since early December, according to Josh Gerben, a trademark attorney at Gerben IP, who is not involved with the specific filing."", ""Unlike other professional sports leagues where individual teams own their own trademark filings, the WNBA holds the rights to all names and logos for the league's franchises, according to Gerben."", '""Circumstantial evidence would be that [Detroit\'s] is a winning bid and they\'re very much planning on getting this going to have filed that trademark application,"" Gerben told CNBC.However, Gerben said the filing could also be a way for the league to protect itself against ""squatters"" or others trying to use the name.', 'Another trademark application was filed for the ""Detroit Shock"" by an individual named Ryan Reed in July 2023, but that trademark has yet to be approved.', ""A person with the same name, purportedly based in Detroit, identifies as the founder of a women's basketball league on LinkedIn."", 'The Detroit Shock were a WNBA team based in Auburn Hills, Michigan, from 1998 to 2009.', 'The team won three WNBA Championships in 2003, 2006 and 2008.', 'In 2009, the franchise moved to Tulsa, Oklahoma, where they played until 2015.', 'Today, they play in Arlington, Texas, as the Dallas Wings.', 'WNBA Commissioner Cathy Engelbert said at the WNBA Finals in October that at least 10 cities had expressed interest in launching an expansion team.', '""We\'re not in a huge rush.', 'We\'d like to bring it in \'27 or no later than \'28,"" Engelbert said at the time in regard to adding a 16th team.', ""Cleveland, Kansas City, Philadelphia, St. Louis, Houston, Austin, Nashville and Milwaukee are among the locations seeking to bring women's professional basketball to their cities.""]",0.1643768096009547,"The team won three WNBA Championships in 2003, 2006 and 2008.","As cities across the country vie for the next Women's National Basketball Association team, the league quietly filed a trademark application this week for the name ""Detroit Shock.",0.9991536140441896,"""Circumstantial evidence would be that [Detroit's] is a winning bid and they're very much planning on getting this going to have filed that trademark application,"" Gerben told CNBC.However, Gerben said the filing could also be a way for the league to protect itself against ""squatters"" or others trying to use the name.",,2025-02-01
+Elon Musk's X begins its push into financial services with Visa deal,https://www.cnbc.com/2025/01/28/elon-musk-x-visa-digital-wallet.html,2025-01-28T19:07:10+0000,"In this articleElon Musk's social media platform X on Tuesday announced the launch of a digital wallet and peer-to-peer payments services provided by Visa.X struck a deal with Visa, the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account, CEO Linda Yaccarino announced in a post on the platform.Visa will enable X users to move funds between traditional bank accounts and their digital wallet and make instant peer-to-peer payments, Yaccarino said, like with Zelle or Venmo.It's the first concrete move from X to create a financial ecosystem for the social media site, which was called Twitter before Musk purchased it in 2022. At the time, Musk, who's also CEO of Tesla, said the $44 billion acquisition was a way to create an ""everything app."" He later said the platform would enable users to conduct their ""entire financial world"" on it.In 2021 while Jack Dorsey was at the helm of Twitter, the company launched a bitcoin tipping feature that allowed users to add their crypto wallet addresses and receive payments in the world's largest digital token.But attaining status as a money service business in the U.S. required navigating a far more complex regulatory landscape.For over a year, Musk has been applying for these licenses for X. According to its website, X Payments LLC is licensed in 41 states and registered with the Financial Crimes Enforcement Network, or FinCEN.The X Money service is expected to launch in the first quarter, and deals with more financial partners are likely, according to a person with knowledge of the situation.One of the first use cases for X Money is to allow creators on the site to accept payments and store funds without external institutions, said this person, who spoke on the condition of anonymity to discuss internal matters.In November 2022, Musk suggested to the platform's advertisers in a meeting publicly broadcast on Spaces that its coming payments product might ultimately offer certain banking features, such as a high-yield money market account.Representatives of Visa declined to comment on the matter.",CNBC,28/01/2025,"[""In this articleElon Musk'ssocial media platform X on Tuesday announced the launch of a digital wallet and peer-to-peer payments services provided by Visa."", 'X struck a deal with Visa, the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account, CEO Linda Yaccarino announced in a post on the platform.', 'Visa will enable X users to move funds between traditional bank accounts and their digital wallet and make instant peer-to-peer payments, Yaccarino said, like with Zelle or Venmo.', ""It's the first concrete move from X to create a financial ecosystem for the social media site, which was called Twitter before Musk purchased it in 2022."", 'At the time, Musk, who\'s also CEO of Tesla, said the $44 billion acquisition was a way to create an ""everything app.""', 'He later said the platform would enable users to conduct their ""entire financial world"" on it.', ""In 2021 while Jack Dorsey was at the helm of Twitter, the company launched a bitcoin tipping feature that allowed users to add their crypto wallet addresses and receive payments in the world's largest digital token."", 'But attaining status as a money service business in the U.S. required navigating a far more complex regulatory landscape.', 'For over a year, Musk has been applying for these licenses for X. According to its website, X Payments LLC is licensed in 41 states and registered with the Financial Crimes Enforcement Network, or FinCEN.The X Money service is expected to launch in the first quarter, and deals with more financial partners are likely, according to a person with knowledge of the situation.', 'One of the first use cases for X Money is to allow creators on the site to accept payments and store funds without external institutions, said this person, who spoke on the condition of anonymity to discuss internal matters.', ""In November 2022, Musk suggested to the platform's advertisers in a meeting publicly broadcast on Spaces that its coming payments product might ultimately offer certain banking features, such as a high-yield money market account."", 'Representatives of Visa declined to comment on the matter.']",0.1704256576963926,"One of the first use cases for X Money is to allow creators on the site to accept payments and store funds without external institutions, said this person, who spoke on the condition of anonymity to discuss internal matters.",,0.999309778213501,"X struck a deal with Visa, the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account, CEO Linda Yaccarino announced in a post on the platform.",,2025-02-01
+Boeing CEO upbeat on recovery plan after company's biggest annual loss since 2020,https://www.cnbc.com/2025/01/28/boeing-ba-4q-2024-earnings.html,2025-01-28T21:01:56+0000,"In this articleBoeing CEO Kelly Ortberg on Tuesday said the company is making progress on its recovery, including by focusing on core businesses and increasing production after the plane maker's multiple safety and manufacturing crises drove it to its sixth consecutive annual loss.Ortberg said the company's 737 Max deliveries will likely reach the ""upper 30s"" this month, up from 17 in December.""We're a little ahead of where I expected,"" he told CNBC's ""Squawk on the Street."" He said Boeing will likely turn cash-flow positive in the second half of the year, after burning through more than $14 billion in 2024, and that the company is set up to reach production of 38 Max aircraft a month.Boeing's shares gained 1.5% on Tuesday.Ortberg, a longtime aerospace executive whom Boeing hired out of retirement over the summer, said the company is also focused on fixing the company's culture.The company is expected it to sell off units like its Jeppesen navigation business, which the CEO confirmed is a candidate during an earnings call on Tuesday.""There are some areas where we can streamline the organization or we may be better off of focusing our energy elsewhere and we'll be actioning those over the coming months and year,"" Ortberg said on the call. ""I think if I give you any guidance, think of it as more pruning the portfolio, not cutting down the tree.""Boeing lost $3.86 billion in the last three months of 2024, taking about $3 billion in charges in its commercial aircraft unit and its defense and space business spanning aircraft from the Boeing 767 to the KC-46 tanker to the long-delayed pair of 747s that are set to serve as new Air Force One planes. Revenue was down 31% from the same period last year to $15.2 billion.  Boeing's results were impacted, as expected, by a nearly two-month machinist strike that idled work on most of its aircraft and lengthened delivery delays to customers, which pay for the bulk of their planes when they're received. Boeing said it burned through about $3.5 billion in the fourth quarter, a difficult end to what was supposed to be a turnaround year. The company expects to have a similar cash use in the first quarter.The company last posted a profit in 2018. In addition to the crashes and Covid, it has faced a host of manufacturing defects and cost overruns, and early last year, a near-catastrophic midair blowout of a door panel on a nearly new Max 9 jetliner as it climbed out of Portland, Oregon.The Federal Aviation Administration capped Boeing's production after the accident at 38 per month.""We need to get to 38 and show stability at 38"" with safety and quality criteria, Ortberg said.""Things look encouraging so far,"" he said, adding that it could get to a point where the company could ramp up production to about 42 a month ""sometime toward the end of the year.""Boeing had released preliminary results last week showing a wider loss and lower revenue than analysts expected.The company's annual loss totaled $11.83 billion, its largest since 2020, when it was grappling with a grounding of its bestselling plane, the 737 Max, after two fatal crashes and the Covid-19 pandemic.""While it was a challenging year, we are seeing encouraging signs of progress as we work together to turn around our company,"" Ortberg said in a staff memo.Its defense unit's revenue fell 20% to $5.4 billion for the quarter, and it took $1.7 billion in pretax charges.""While charges for the quarter in BDS are disappointing, we have completed deep dives on all of our challenging fixed-price development programs,"" Ortberg said in the memo. ""We are now more proactive and clear-eyed on the risks.""Ortberg said in the CNBC interview on Tuesday that Boeing is discussing with President Donald Trump's adviser Elon Musk how to deliver the already delayed Air Force One aircraft earlier and reduce costs in the program, which is more than $2 billion over budget. Musk's company SpaceX is also a Boeing competitor.Revenue for the commercial aircraft unit dropped 55% to $4.76 billion.Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:Boeing lost $3.86 billion, or $5.46 per share in the fourth quarter, compared with a loss of $30 million, or a loss of 4 cents a share, in the same period a year ago. Adjusting for impacts of the strike and charges, the company lost $5.90 per share.After the strike ended in November, Boeing resumed production of its 737 Max aircraft in December, and earlier this month, it restarted test flights of its 777X aircraft, which haven't yet been certified by the FAA. Boeing is also working to certify the Max 7 and Max 10 aircraft, the smallest and largest models in the single-aisle Max family.While airline CEOs have largely supported Ortberg, key Boeing customers are still logging the effects of the delivery delays.American Airlines said over the weekend it made further cuts to its schedule because of late deliveries of new Boeing 787 Dreamliners, which it also planned to use to launch a premium-seat-heavy configuration to capitalize on a consumer shift toward pricier, roomier seats.It plans to suspend service between Miami and Paris in June and July, and cut down on frequencies between Dallas Fort Worth International Airport and New York's John F. Kennedy International to London in May, as well as from Dallas to Honolulu in June.""We'll be proactively reaching out to our impacted customers to offer alternate travel arrangements and remain committed to mitigating the impact of these Boeing delays while continuing to offer a comprehensive global network,"" American said in a statement.Meanwhile, the CEO of European budget airline Ryanair, Michael O'Leary, said Monday that the company had to cut its passenger traffic goal for the year because of ""frustrating"" Boeing delivery delays.— CNBC's Phil LeBeau contributed to this report.Correction: Boeing had a loss of $30 million in the fourth quarter a year earlier. An earlier version misstated the figure.",CNBC,28/01/2025,"[""In this articleBoeing CEO Kelly Ortberg on Tuesday said the company is making progress on its recovery, including by focusing on core businesses and increasing production after the plane maker's multiple safety and manufacturing crises drove it to its sixth consecutive annual loss."", 'Ortberg said the company\'s 737 Max deliveries will likely reach the ""upper 30s"" this month, up from 17 in December.', '""We\'re a little ahead of where I expected,"" he told CNBC\'s ""Squawk on the Street.""', 'He said Boeing will likely turn cash-flow positive in the second half of the year, after burning through more than $14 billion in 2024, and that the company is set up to reach production of 38 Max aircraft a month.', ""Boeing's shares gained 1.5% on Tuesday."", ""Ortberg, a longtime aerospace executive whom Boeing hired out of retirement over the summer, said the company is also focused on fixing the company's culture."", 'The company is expected it to sell off units like its Jeppesen navigation business, which the CEO confirmed is a candidate during an earnings call on Tuesday.', '""There are some areas where we can streamline the organization or we may be better off of focusing our energy elsewhere and we\'ll be actioning those over the coming months and year,"" Ortberg said on the call. ""', 'I think if I give you any guidance, think of it as more pruning the portfolio, not cutting down the tree.', '""Boeing lost $3.86 billion in the last three months of 2024, taking about $3 billion in charges in its commercial aircraft unit and its defense and space business spanning aircraft from the Boeing 767 to the KC-46 tanker to the long-delayed pair of 747s that are set to serve as new Air Force One planes.', 'Revenue was down 31% from the same period last year to $15.2 billion.', ""Boeing's results were impacted, as expected, by a nearly two-month machinist strike that idled work on most of its aircraft and lengthened delivery delays to customers, which pay for the bulk of their planes when they're received."", 'Boeing said it burned through about $3.5 billion in the fourth quarter, a difficult end to what was supposed to be a turnaround year.', 'The company expects to have a similar cash use in the first quarter.', 'The company last posted a profit in 2018.', 'In addition to the crashes and Covid, it has faced a host of manufacturing defects and cost overruns, and early last year, a near-catastrophic midair blowout of a door panel on a nearly new Max 9 jetliner as it climbed out of Portland, Oregon.', ""The Federal Aviation Administration capped Boeing's production after the accident at 38 per month."", '""We need to get to 38 and show stability at 38"" with safety and quality criteria, Ortberg said.', '""Things look encouraging so far,"" he said, adding that it could get to a point where the company could ramp up production to about 42 a month ""sometime toward the end of the year.', '""Boeing had released preliminary results last week showing a wider loss and lower revenue than analysts expected.', ""The company's annual loss totaled $11.83 billion, its largest since 2020, when it was grappling with a grounding of its bestselling plane, the 737 Max, after two fatal crashes and the Covid-19 pandemic."", '""While it was a challenging year, we are seeing encouraging signs of progress as we work together to turn around our company,"" Ortberg said in a staff memo.', ""Its defense unit's revenue fell 20% to $5.4 billion for the quarter, and it took $1.7 billion in pretax charges."", '""While charges for the quarter in BDS are disappointing, we have completed deep dives on all of our challenging fixed-price development programs,"" Ortberg said in the memo. ""', 'We are now more proactive and clear-eyed on the risks.', '""Ortberg said in the CNBC interview on Tuesday that Boeing is discussing with President Donald Trump\'s adviser Elon Musk how to deliver the already delayed Air Force One aircraft earlier and reduce costs in the program, which is more than $2 billion over budget.', ""Musk's company SpaceX is also a Boeing competitor."", 'Revenue for the commercial aircraft unit dropped 55% to $4.76 billion.', ""Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:Boeing lost $3.86 billion, or $5.46 per share in the fourth quarter, compared with a loss of $30 million, or a loss of 4 cents a share, in the same period a year ago."", 'Adjusting for impacts of the strike and charges, the company lost $5.90 per share.', ""After the strike ended in November, Boeingresumed production of its 737 Maxaircraft in December, and earlier this month, it restarted test flights of its 777X aircraft, which haven't yet been certified by the FAA.Boeing is also working to certify the Max 7 and Max 10 aircraft, the smallest and largest models in the single-aisle Max family."", 'While airline CEOs have largely supported Ortberg, key Boeing customers are still logging the effects of the delivery delays.', 'American Airlines said over the weekend it made further cuts to its schedule because of late deliveries of new Boeing 787 Dreamliners, which it also planned to use to launch a premium-seat-heavy configuration to capitalize on a consumer shift toward pricier, roomier seats.', ""It plans to suspend service between Miami and Paris in June and July, and cut down on frequencies between Dallas Fort Worth International Airport and New York's John F. Kennedy International to London in May, as well as from Dallas to Honolulu in June."", '""We\'ll be proactively reaching out to our impacted customers to offer alternate travel arrangements and remain committed to mitigating the impact of these Boeing delays while continuing to offer a comprehensive global network,"" American said in a statement.', 'Meanwhile, the CEO of European budget airline Ryanair, Michael O\'Leary, said Monday that the company had to cut its passenger traffic goal for the year because of ""frustrating"" Boeing delivery delays.—', ""CNBC's Phil LeBeau contributed to this report."", 'Correction: Boeing had a loss of $30 million in the fourth quarter a year earlier.', 'An earlier version misstated the figure.']",0.0012488232661778,"""While it was a challenging year, we are seeing encouraging signs of progress as we work together to turn around our company,"" Ortberg said in a staff memo.","In addition to the crashes and Covid, it has faced a host of manufacturing defects and cost overruns, and early last year, a near-catastrophic midair blowout of a door panel on a nearly new Max 9 jetliner as it climbed out of Portland, Oregon.",-0.1403640253203255,"He said Boeing will likely turn cash-flow positive in the second half of the year, after burning through more than $14 billion in 2024, and that the company is set up to reach production of 38 Max aircraft a month.",Revenue was down 31% from the same period last year to $15.2 billion.,2025-02-01
+67 dead after American Airlines plane collides with Army helicopter,https://www.cnbc.com/2025/01/30/aircraft-down-in-potomic-river-near-dca-airport.html,2025-01-31T15:49:41+0000,"In this articleThere were no survivors after an American Airlines regional jet with 64 people aboard collided with a Black Hawk military helicopter moments before the airplane was set to land at Washington, D.C.'s Ronald Reagan Washington National Airport on Wednesday night, officials said. The accident was the worst air disaster in the U.S. since 2001.Hundreds of first responders have switched to a recovery operation from rescue efforts, District of Columbia Fire and Emergency Medical Services Chief John Donnelly said in a press conference Thursday morning. Donnelly said at least 28 bodies have been recovered so far: 27 from the jet and one from the helicopter.Both aircraft plunged into the icy waters of the Potomac River. First responders including divers worked overnight to try to recover victims, battling choppy, cold waters.Sixty passengers and four crew members were on board the American flight. Three people were on board the military helicopter, an official said.American Eagle Flight 5342, a PSA Airlines Bombardier CRJ700 regional jetliner, was on approach into the airport's Runway 33 when it collided with a Sikorsky H-60 helicopter at around 9 p.m. ET, the FAA said. The flight was arriving from Wichita, Kansas, and flying at an altitude of about 300 feet at the time of the collision, according to FlightRadar24.PSA Airlines is an American Airlines subsidiary and one of its regional carriers. American Eagle is how the airline brands its regional flights.Transportation Secretary Sean Duffy, two days into the job, said the American Airlines jetliner was broken into three sections in the Potomac.The accident hands President Donald Trump a crisis less than two weeks into his new term, as it ends the country's nearly 16-year stretch without a deadly commercial passenger crash.Trump claimed at a White House news conference Thursday that policies promoting diversity, equity and inclusion ""could have been"" to blame for the collision, the deadliest U.S. plane crash since November 2001. He did not provide evidence.Pressed on whether he was getting ahead of the investigation and on how he could connect the collision to DEI, Trump said, ""Because I have common sense, OK?""The National Transportation Safety Board is leading the investigation into Wednesday's accident. The probe will also include the Federal Aviation Administration, American Airlines and other parties.American Airlines CEO Robert Isom said in a memo to staff that the NTSB would be the ""sole source of truth going forward, and accuracy is of the utmost importance.""At a briefing Thursday afternoon, NTSB Chair Jennifer Homendy said the agency would leave no stone unturned in its investigation.Investigators will look at everything from staffing levels at the airport's air traffic control facility to pilot training, maintenance, communications between air traffic controllers and the aircraft involved in the crash, she said.The NTSB said late Thursday that the flight data and cockpit voice recorder from the CRJ-700 have been recovered. The boxes were taken to NTSB labs for evaluation, the agency said.Staffing at Reagan National Airport on Wednesday night wasn't at normal levels for the time of day and the amount of traffic, according to a source familiar with a FAA preliminary incident report. The FAA didn't immediately comment.The person said the tower at the airport normally has one controller who focuses on helicopter traffic, though FAA allows for that position to be combined so one person could watch airplanes and helicopters. That was the case Wednesday night, the source said.""Everyone who flies in American skies expects that we fly safely, that when you depart an airport, you get to your destination,"" Duffy said in a press conference Thursday. ""That didn't happen last night, and I know that President Trump, his administration, the FAA, the DOT, you will not rest until we have answers for the family and for the flying public.""Duffy said he thought the accident was preventable.The FAA does not have a permanent head, which would require Senate confirmation. Former Administrator Mike Whitaker stepped down on Jan. 20, when Trump took office.On Thursday, Trump appointed Chris Rocheleau, a former senior FAA official, as acting head of the FAA.American CEO Isom traveled to Washington, D.C., overnight.""I want to express my sincere condolences for the accident that happened last night. We're absolutely heartbroken for the family members,"" Isom said in a press conference. ""Our focus right now is to support all of those involved and also the PSA airlines team.""He said the American flight was at final approach and ""at this time, we don't know why the military aircraft came into the path of the PSA aircraft.""Isom said the captain of the American Eagle flight had about six years with PSA and the first officer had about two years. The plane was on a ""standard"" approach, he added. ""That's about all I can say.""NBC News reported that one of the soldiers on the helicopter was an instructor pilot lending experience to the crew, which was on an annual training mission.The airline provided contact information for people who ""believe you may have loved ones on board Flight 5342.""American and Russian figure skaters were on board the flight, according to the countries' official groups.Reagan Washington National was closed Wednesday night and reopened late Thursday morning. Officials said airlines would communicate any schedule changes to passengers.The airport says its main runway is the busiest in the country.The U.S. has had a long stretch without fatal commercial passenger airline crashes. The last U.S. commercial passenger airline crash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.The crash of that turboprop plane prompted federal regulations requiring more rest and training for pilots.""We are shocked and saddened by the tragic accident at DCA tonight,"" said the Air Line Pilots Association, a pilot union. ""Our thoughts are with those affected by this tragedy and ALPA's accident investigation team is responding to assist the National Transportation Safety Board in their investigation.""— CNBC's Kevin Breuninger and Phil LeBeau contributed to this report.This story is developing. Please check back for updates.Correction: An American Airlines plane collided with an Army helicopter. This fact had a typographical error in the headline of a previous version.",CNBC,31/01/2025,"[""In this articleThere were no survivors after an American Airlines regional jet with 64 people aboard collided with a Black Hawk military helicopter moments before the airplane was set to land at Washington, D.C.'s Ronald Reagan Washington National Airport on Wednesday night, officials said."", 'The accident was the worst air disaster in the U.S. since 2001.Hundreds of first responders have switched to a recovery operation from rescue efforts, District of Columbia Fire and Emergency Medical Services Chief John Donnelly said in a press conference Thursdaymorning.', 'Donnelly said at least 28 bodies have been recovered so far:27 from the jet and one from the helicopter.', 'Both aircraft plunged into the icy waters of the Potomac River.', 'First responders including divers worked overnight to try to recover victims, battling choppy, cold waters.', 'Sixty passengers and four crew members were on board the American flight.', 'Three people were on board the military helicopter, an official said.', ""American Eagle Flight 5342, a PSA Airlines Bombardier CRJ700 regional jetliner, was on approach into the airport's Runway 33 when it collided with a Sikorsky H-60 helicopter at around 9 p.m. ET, the FAA said."", 'The flight was arriving from Wichita, Kansas, and flying at an altitude of about 300 feet at the time of the collision, according to FlightRadar24.PSAAirlinesis an American Airlines subsidiary and one of its regional carriers.', 'American Eagle is how theairlinebrands its regional flights.', 'Transportation Secretary Sean Duffy, two days into the job, said the American Airlines jetliner was broken into three sections in the Potomac.', ""The accident hands President Donald Trump a crisis less than two weeks into his new term, as it ends the country's nearly 16-year stretch without a deadly commercial passenger crash."", 'Trump claimed at a White House news conference Thursday that policies promoting diversity, equity and inclusion ""could have been"" to blame for the collision, thedeadliest U.S. plane crashsince November 2001.', 'He did not provide evidence.', 'Pressed on whether he was getting ahead of the investigation and on how he could connect the collision to DEI, Trump said, ""Because I have common sense, OK?""The National Transportation Safety Board is leading the investigation into Wednesday\'s accident.', 'The probe will also include the Federal Aviation Administration, American Airlines and other parties.', 'American Airlines CEO Robert Isom said in a memo to staff that the NTSB would be the ""sole source of truth going forward, and accuracy is of the utmost importance.', '""At a briefing Thursday afternoon, NTSB Chair Jennifer Homendy said the agency would leave no stone unturned in its investigation.', ""Investigators will look at everything from staffing levels at the airport's air traffic control facility to pilot training, maintenance, communications between air traffic controllers and the aircraft involved in the crash, she said."", 'The NTSB saidlate Thursday thatthe flight data andcockpit voice recorderfrom the CRJ-700 have been recovered.', 'The boxes were taken to NTSB labs for evaluation, the agency said.', ""Staffing at Reagan National Airport on Wednesday night wasn't at normal levels for the time of day and the amount of traffic, according to a source familiar with a FAA preliminary incident report."", ""The FAA didn't immediately comment."", 'The person said the tower at the airport normally has one controller who focuses on helicopter traffic, though FAA allows for that position to be combined so one person could watch airplanes and helicopters.', 'That was the case Wednesday night, the source said.', '""Everyone who flies in American skies expects that we fly safely, that when you depart an airport, you get to your destination,"" Duffy said in a press conference Thursday. ""', ""That didn't happen last night, and I know that President Trump, his administration, the FAA, the DOT, you will not rest until we have answers for the family and for the flying public."", '""Duffy said he thought the accident was preventable.', 'The FAA does not have a permanent head, which would require Senate confirmation.', 'Former Administrator Mike Whitaker stepped down on Jan. 20, when Trump took office.', 'On Thursday, Trump appointed ChrisRocheleau, a former senior FAA official, as acting head of the FAA.American CEO Isom traveled to Washington, D.C., overnight.', '""I want to express my sincere condolences for the accident that happened last night.', 'We\'re absolutely heartbroken for the family members,"" Isom said in a press conference. ""', 'Our focus right now is to support all of those involved and also the PSAairlinesteam.', '""He said the American flight was at final approach and ""at this time, we don\'t know why the military aircraft came into the path of the PSA aircraft.', '""Isom said the captain of the American Eagle flight had about six years with PSA and the first officer had about two years.', 'The plane was on a ""standard"" approach, he added. ""', ""That's about all I can say."", '""NBC News reported that one of the soldiers on the helicopter was an instructor pilot lending experience to the crew, which was on an annual training mission.', 'The airline provided contact information for people who ""believe you may have loved ones on board Flight 5342.""American and Russian figure skaterswere on board the flight, according to the countries\' official groups.', 'Reagan Washington National was closed Wednesday night and reopened late Thursday morning.', 'Officials said airlines would communicate any schedule changes to passengers.', 'The airport says its main runway is the busiest in the country.', 'The U.S. has had a long stretch without fatal commercial passenger airline crashes.', 'The last U.S. commercial passengerairlinecrash occurred in February 2009 when Continental Flight 3407 crashed into a house as it was arriving in Buffalo, New York, killing all 49 people aboard and one person on the ground.', 'The crash of that turboprop plane prompted federal regulations requiring more rest and training for pilots.', '""We are shocked and saddened by the tragic accident at DCA tonight,"" said the Air Line Pilots Association, a pilot union. ""', 'Our thoughts are with those affected by this tragedy and ALPA\'s accident investigation team is responding to assist the National Transportation Safety Board in their investigation.""—', ""CNBC's Kevin Breuninger and Phil LeBeau contributed to this report."", 'This story is developing.', 'Please check back for updates.', 'Correction: An American Airlines plane collided with an Army helicopter.', 'This fact had a typographical error in the headline of a previous version.']",-0.1126995504155695,"The airline provided contact information for people who ""believe you may have loved ones on board Flight 5342.""American and Russian figure skaterswere on board the flight, according to the countries' official groups.","The accident was the worst air disaster in the U.S. since 2001.Hundreds of first responders have switched to a recovery operation from rescue efforts, District of Columbia Fire and Emergency Medical Services Chief John Donnelly said in a press conference Thursdaymorning.",-0.7085793018341064,,"""We are shocked and saddened by the tragic accident at DCA tonight,"" said the Air Line Pilots Association, a pilot union. """,2025-02-01
+Shein ramps up charm offensive as London IPO nears,https://www.cnbc.com/2025/01/31/shein-releases-product-safety-data-ahead-of-london-ipo.html,2025-01-31T18:02:39+0000,"Shein is ramping up its charm offensive again as the fast-fashion giant eyes a public listing in London as soon as this year. The retailer issued a press release on Friday detailing the steps it's taking to keep the items it sells safe. The announcement came about a week after its first product safety recall in the U.S. since 2021. Shein said it conducted more than 2 million product safety tests last year using industry-leading labs such as Bureau Veritas and Intertek, adding that its vendors are required to submit documentation for items like toys, baby products, medical devices and electronics. Shein made the announcement, which included details on its sustainability initiatives and a new nonprofit foundation it set up, as the company looks to win over lawmakers in the U.K. and ease concerns that it's selling unsafe products that are made with forced labor. Last week, Shein recalled more than 300 hair dryer brushes because they posed an electrocution or shock hazard to consumers. The Teckwe Hair Dryer Brush appeared to be a so-called dupe of a similar product sold by Dyson. No injuries were reported and Shein is offering a refund to impacted customers. A spokesperson for Shein told CNBC the company conducted safety tests on products it sells itself and did ""risk-based, randomized testing"" on items sold by third-party vendors on its marketplace before their listing.Product safety testing is common for items that a retailer sells, even if they're online only, because they could be held liable for defects under consumer protection laws in the U.S. On the other hand, a retailer's liability is less clear for third-party sellers on an online marketplace, which makes product testing prior to an item's listing unusual.Shein's decision to conduct product safety tests on items sold by third-party sellers makes it stand out in an industry that has been rife with safety concerns. Typically, online marketplaces just require sellers to conduct their own testing and provide documentation to support it.Shein added in its press release that it terminated more than 260 sellers on its marketplace over the last year for not meeting compliance requirements. Shein's campaign to show it takes product safety and sustainability seriously comes as it prepares to go public in the U.K. — and follows a similar charm offensive in the U.S. before its doomed initial public offering bid there.Earlier this month, U.K. lawmakers criticized attorneys for Shein when they appeared before a British parliamentary hearing and evaded questions about the company's supply chain and whether it sells products made with cotton from China, The Associated Press reported. Shein's general counsel in Europe, Yinan Zhu, repeatedly declined to say whether the company's products contain cotton from Xinjiang and whether the company prohibits suppliers from sourcing raw materials in the region, which has become notorious for its Uyghur detention camps. When asked whether the company believes there is forced labor in Xinjiang, Zhu said it wasn't the company's place to have a ""geopolitical debate"" and repeated a line Shein often uses when grilled on its supply chain, ""We comply with the laws and regulations in the countries that we operate in.""Committee Chairman Liam Byrne said Zhu's refusal to answer questions left lawmakers ""horrified"" and gave them ""zero confidence"" in the integrity of Shein's supply chain.  ""The reluctance to answer basic questions has frankly bordered on contempt,"" Byrne said.Throughout 2023, when Shein was still hoping for a U.S. IPO, it commonly spoke publicly about its cotton supply chain and the tests it had conducted to ensure it wasn't sourcing from banned regions. It even told CNBC it had stopped sourcing cotton from China altogether. Shein did not make similar statements in the parliamentary hearing.",CNBC,31/01/2025,"['Shein is ramping up its charm offensive again as the fast-fashion giant eyes a public listing in London as soon as this year.', ""The retailer issued a press release on Friday detailing the steps it's taking to keep the items it sells safe."", 'The announcement came about a week after its first product safety recall in the U.S. since 2021.Shein said it conducted more than 2 million product safety tests last year using industry-leading labs such as Bureau Veritas and Intertek, adding that its vendors are required to submit documentation for items like toys, baby products, medical devices and electronics.', ""Shein made the announcement, which included details on its sustainability initiatives and a new nonprofit foundation it set up, as the company looks to win over lawmakers in the U.K. and ease concerns that it's selling unsafe products that are made with forced labor."", 'Last week, Shein recalled more than 300 hair dryer brushes because they posed an electrocution or shock hazard to consumers.', 'The Teckwe Hair Dryer Brush appeared to be a so-called dupe of a similar product sold by Dyson.', 'No injuries were reported and Shein is offering a refund to impacted customers.', 'A spokesperson for Shein told CNBC the company conducted safety tests on products it sells itself and did ""risk-based, randomized testing"" on items sold by third-party vendors on its marketplace before their listing.', ""Product safety testing is common for items that a retailer sells, even if they're online only, because they could be held liable for defects under consumer protection laws in the U.S. On the other hand, a retailer's liability is less clear for third-party sellers on an online marketplace, which makes product testing prior to an item's listing unusual."", ""Shein's decision to conduct product safety tests on items sold by third-party sellers makes it stand out in an industry that has been rife with safety concerns."", 'Typically, online marketplaces just require sellers to conduct their own testing and provide documentation to support it.', 'Shein added in its press release that it terminated more than 260 sellers on its marketplace over the last year for not meeting compliance requirements.', ""Shein's campaign to show it takes product safety and sustainability seriously comes as it prepares to go public in the U.K. — and follows a similar charm offensive in the U.S. before its doomed initial public offering bid there."", ""Earlier this month, U.K. lawmakers criticized attorneys for Shein when they appeared before a British parliamentary hearing and evaded questions about the company's supply chain and whether it sells products made with cotton from China, The Associated Press reported."", ""Shein's general counsel in Europe, Yinan Zhu, repeatedly declined to say whether the company's products contain cotton from Xinjiang and whether the company prohibits suppliers from sourcing raw materials in the region, which has become notorious for its Uyghur detention camps."", 'When asked whether the company believes there is forced labor in Xinjiang, Zhu said it wasn\'t the company\'s place to have a ""geopolitical debate"" and repeated a line Shein often uses when grilled on its supply chain, ""We comply with the laws and regulations in the countries that we operate in.', '""Committee Chairman Liam Byrne said Zhu\'s refusal to answer questions left lawmakers ""horrified"" and gave them ""zero confidence"" in the integrity of Shein\'s supply chain.', '""The reluctance to answer basic questions has frankly bordered on contempt,"" Byrne said.', ""Throughout 2023, when Shein was still hoping for a U.S. IPO, it commonly spoke publicly about its cotton supply chain and the tests it had conducted to ensure it wasn't sourcing from banned regions."", 'It even told CNBC it had stopped sourcing cotton from China altogether.', 'Shein did not make similar statements in the parliamentary hearing.']",0.0373540623072744,Shein's decision to conduct product safety tests on items sold by third-party sellers makes it stand out in an industry that has been rife with safety concerns.,"""The reluctance to answer basic questions has frankly bordered on contempt,"" Byrne said.",-0.1423512160778045,"Shein made the announcement, which included details on its sustainability initiatives and a new nonprofit foundation it set up, as the company looks to win over lawmakers in the U.K. and ease concerns that it's selling unsafe products that are made with forced labor.","""Committee Chairman Liam Byrne said Zhu's refusal to answer questions left lawmakers ""horrified"" and gave them ""zero confidence"" in the integrity of Shein's supply chain.",2025-02-01
+Frontier Airlines proposes merging with bankrupt Spirit — again. Spirit says no,https://www.cnbc.com/2025/01/29/frontier-airlines-proposes-combining-spirit.html,2025-01-29T16:55:57+0000,"In this articleBankrupt Spirit Airlines said it turned down a new merger offer from rival budget carrier Frontier Airlines.Frontier said Wednesday that it has met with Spirit's board and executives since it made its debt-and-stock merger proposal on Jan. 7. Frontier executives said in a email to counterparts at Spirit this week that their plan is better than Spirit's own plan to emerge from bankruptcy.""We continue to believe that under the current standalone plan, Spirit will emerge highly levered, losing money at the operating level, and this would not be a transaction we would pursue,"" wrote Frontier Chairman Bill Franke and CEO Barry Biffle in a Tuesday email to Spirit Chairman Mac Gardner and CEO Ted Christie. ""As a result, time is of the essence.""Christie and Gardner told their Frontier counterparts that they were rejecting the offer, calling the terms ""inadequate and unactionable,"" according to a letter shared in a securities filing on Wednesday.Frontier's new merger plan offered Spirit's debtors $400 million and a 19% stake in Frontier. It also proposed Spirit creditors provide $350 million in new funding, Spirit said.The Spirit executives called Frontier's proposal ""risky and costly, with no certainty as to either timing or outcome"" and ""woefully insufficient financially.""They said, however, that they would consider a sweetened offer.""Should you wish to make a revised proposal that is in fact capable of closing, and addresses the material deficiencies catalogued here and in our many communications, we would be happy to consider it and again work to activate our stakeholders to do so as well,"" they wrote.The two carriers were in talks for a possible combination before Spirit filed for bankruptcy.Frontier and Spirit first announced a deal to merge in 2022, but a higher JetBlue Airways all-cash offer derailed that plan. JetBlue's planned acquisition of Spirit was blocked by a federal judge last year, and Spirit filed for bankruptcy protection in November.In both deals, the airlines argued they needed to combine to better compete against larger rivals.Spirit said it expects to exit Chapter 11 bankruptcy this quarter and has a Feb. 13 court date to finalize its plan, which wipes out debtor shareholders. It has raced to cut costs in recent months, including by slashing some 200 jobs and selling some of its Airbus planes.Budget carriers like Frontier and Spirit have struggled post-pandemic, as costs like salaries have risen and consumers have opted for trips abroad on carriers with options for roomier and more expensive seats. Larger rivals that control much of the U.S. market have also made inroads with basic economy fares, which aim to compete with the bare-bones tickets that were at one time the backbone of Frontier and Spirit.Spirit has also been particularly challenged by a Pratt & Whitney engine recall that grounded dozens of its jets.Both Frontier and Spirit have been working to upend their business models that were marked by low fares and fees for add-ons from seat assignments to cabin baggage.The airlines last year did away with cancellation and change fees for some of their tickets and started bundling perks along with tickets. Frontier last year said it would start offering a premium section at the front of the plane.",CNBC,29/01/2025,"['In this articleBankrupt Spirit Airlines said it turned down a new merger offer from rival budget carrier Frontier Airlines.', ""Frontier said Wednesday that it has met with Spirit's board and executives since it made its debt-and-stock merger proposal on Jan. 7."", ""Frontier executives said in a email to counterparts at Spirit this week that their plan is better than Spirit's own plan to emerge from bankruptcy."", '""We continue to believe that under the current standalone plan, Spirit will emerge highly levered, losing money at the operating level, and this would not be a transaction we would pursue,"" wrote Frontier Chairman Bill Franke and CEO Barry Biffle in a Tuesday email to Spirit Chairman Mac Gardner and CEO Ted Christie. ""', 'Asa result, time is of the essence.', '""Christie and Gardner told their Frontier counterparts that they were rejecting the offer, calling the terms ""inadequate and unactionable,"" according to a letter shared in a securities filing on Wednesday.', ""Frontier's new merger plan offered Spirit's debtors $400 million and a 19% stake in Frontier."", 'It also proposed Spirit creditors provide $350 million in new funding, Spirit said.', 'The Spirit executives called Frontier\'s proposal ""risky and costly, with no certainty as to either timing or outcome"" and ""woefully insufficient financially.', '""They said, however, that they would consider a sweetened offer.', '""Should you wish to make a revised proposal that is in fact capable of closing, and addresses the material deficiencies catalogued here and in our many communications, we would be happy to consider it and again work to activate our stakeholders to do so as well,"" they wrote.', 'The two carriers were in talks for a possible combination before Spirit filed for bankruptcy.', 'Frontier and Spirit first announced a deal to merge in 2022, but a higher JetBlue Airways all-cash offer derailed that plan.', ""JetBlue's planned acquisition of Spirit was blocked by a federal judge last year, and Spirit filed for bankruptcy protection in November."", 'In both deals, the airlines argued they needed to combine to better compete against larger rivals.', 'Spirit said it expects to exit Chapter 11 bankruptcy this quarter and has a Feb. 13 court date to finalize its plan, which wipes out debtor shareholders.', 'It has raced to cut costs in recent months, including by slashing some 200 jobs and selling some of its Airbus planes.', 'Budget carriers like Frontier and Spirit have struggled post-pandemic, as costs like salaries have risen and consumers have opted for trips abroad on carriers with options for roomier and more expensive seats.', 'Larger rivals that control much of the U.S. market have also made inroads with basic economy fares, which aim to compete with the bare-bones tickets that were at one time the backbone of Frontier and Spirit.', 'Spirit has also been particularly challenged by a Pratt & Whitney engine recall that grounded dozens of its jets.', 'Both Frontier and Spirit have been working to upend their business models that were marked by low fares and fees for add-ons from seat assignments to cabin baggage.', 'The airlines last year did away with cancellation and change fees for some of their tickets and started bundling perks along with tickets.', 'Frontier last year said it would start offering a premium section at the front of the plane.']",0.0576550898135412,"""Should you wish to make a revised proposal that is in fact capable of closing, and addresses the material deficiencies catalogued here and in our many communications, we would be happy to consider it and again work to activate our stakeholders to do so as well,"" they wrote.","The Spirit executives called Frontier's proposal ""risky and costly, with no certainty as to either timing or outcome"" and ""woefully insufficient financially.",-0.1617318391799926,"Larger rivals that control much of the U.S. market have also made inroads with basic economy fares, which aim to compete with the bare-bones tickets that were at one time the backbone of Frontier and Spirit.","Budget carriers like Frontier and Spirit have struggled post-pandemic, as costs like salaries have risen and consumers have opted for trips abroad on carriers with options for roomier and more expensive seats.",2025-02-01
+Boeing is working with Elon Musk to deliver Air Force One replacements sooner,https://www.cnbc.com/2025/01/28/elon-musk-boeing-air-force-one-replacements.html,2025-01-28T18:13:28+0000,"In this articleBoeing is working with Trump advisor Elon Musk on ways to deliver delayed, overbudget Air Force One replacements sooner, CEO Kelly Ortberg said Tuesday.The pair of Boeing 747s that will serve as the next Air Force One aircraft are more than $2 billion over budget and years late, which the company has attributed to design changes, labor constraints and supply chain problems. President Donald Trump struck a deal for the aircraft during his first term, after threatening to ""cancel order!"" before he took office in 2017, complaining about high costs.""We've been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC's Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.It is not clear whether the aircraft will be delivered before Trump's current term is up. An Air Force spokesperson told CNBC that an updated delivery schedule from Boeing is expected in the spring.Trump cut a cake adorned with a model of Air Force One — in a new paint scheme — with a sword at his Jan. 20 inaugural ball.Musk, whose company SpaceX competes with Boeing's space unit, has worked closely with Trump in recent months. The billionaire is also heading Trump's commission that he tasked with reducing government spending.Musk and the White House didn't immediately comment.""The president wants those planes sooner so we're working with Elon to see what can we do to pull up the schedule of those programs,"" Ortberg said.Boeing in the last quarter took $1.7 billion in pretax charges in its defense and space unit, including for the Air Force One program. Ortberg, who became CEO in August, replaced the head of that business in September with an internal, interim leader.",CNBC,28/01/2025,"['In this articleBoeing is working with Trump advisor Elon Musk on ways to deliver delayed, overbudget Air Force One replacements sooner, CEO Kelly Ortberg said Tuesday.', 'The pair of Boeing 747s that will serve as the next Air Force One aircraft are more than $2 billion over budget and years late, which the company has attributed to design changes, labor constraints and supply chain problems.', 'President Donald Trump struck a deal for the aircraft during his first term, after threatening to ""cancel order!""', 'before he took office in 2017, complaining about high costs.', '""We\'ve been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC\'s Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.', ""It is not clear whether the aircraft will be delivered before Trump's current term is up."", 'An Air Force spokesperson told CNBC that an updated delivery schedule from Boeing is expected in the spring.', 'Trump cut a cake adorned with a model of Air Force One — in a new paint scheme — with a sword at his Jan. 20 inaugural ball.', ""Musk, whose company SpaceX competes with Boeing's space unit, has worked closely with Trump in recent months."", ""The billionaire is also heading Trump's commission that he tasked with reducing government spending."", ""Musk and the White House didn't immediately comment."", '""The president wants those planes sooner so we\'re working with Elon to see what can we do to pull up the schedule of those programs,"" Ortberg said.', 'Boeing in the last quarter took $1.7 billion in pretax charges in its defense and space unit, including for the Air Force One program.', 'Ortberg, who became CEO in August, replaced the head of that business in September with an internal, interim leader.']",-0.123036761516436,"""We've been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC's Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.","President Donald Trump struck a deal for the aircraft during his first term, after threatening to ""cancel order!""",0.3317801157633464,"""We've been engaged with Elon"" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC's Phil Lebeau on ""Squawk on the Street"" on Tuesday, after Boeing released full-year results and its 2025 outlook.","The pair of Boeing 747s that will serve as the next Air Force One aircraft are more than $2 billion over budget and years late, which the company has attributed to design changes, labor constraints and supply chain problems.",2025-02-01
+American Airlines CEO says it's not clear why helicopter came into jetliner's flight path,https://www.cnbc.com/2025/01/30/american-airlines-plane-crash-flight-path.html,2025-01-30T19:39:26+0000,"In this articleAmerican Airlines CEO Robert Isom said Thursday morning that the regional jet that collided with a Black Hawk military helicopter near Washington, D.C's Reagan National Airport on Wednesday night was on a standard flight path.The collision between American Eagle Flight 5342 and the helicopter occurred at about 9 p.m. Wednesday. Officials do not expect to find any survivors.""At this time, we don't know why the military aircraft came into the path of the PSA aircraft,"" Isom said at a Thursday morning press conference.Isom said in a staff note Thursday that the National Transportation Safety Board would be the ""sole source of truth going forward, and accuracy is of the utmost importance.""PSA Airlines is an American Airlines subsidiary and one of its regional carriers. American Eagle is how American Airlines brands its regional flights.""It is not standard to have aircraft collide. I'll be clear on that,"" Transportation Secretary Sean Duffy said at the press conference. ""But prior to the collision, the flight paths that were being flown from the military and from American, that was not unusual for what happens in the D.C. airspace.""Isom added that the airline has activated its care team to assist in recovery efforts.""We're absolutely heartbroken for the family and loved ones of the passengers and crew members and also for those that were on the military aircraft. Our focus right now is doing everything that we can to support all of those involved and also the PSA Airlines team,"" he said.The commercial jet was flying from Wichita, Kansas, to Ronald Reagan Washington National Airport and was moments away from landing on the airport runway. Both vehicles crashed into the Potomac River.Isom urged people to call American's designated helpline at 1-800-679-8215 to find information on their loved ones.Isom, who traveled to Washington on Wednesday night, said American's ""go team"" has also been deployed to Washington to provide resources for passengers' and crew members' families and loved ones. Sixty-four people were aboard the flight, including 60 passengers and four crew members.Passengers included American and Russian elite figure skaters, their coaches and family members. U.S. Figure Skating said in a statement that the skaters were returning from a training camp in Wichita.Isom said American is working with local, state and federal authorities on the recovery efforts and that PSA Airlines is cooperating with the National Transportation Safety Board's investigation.""I know that there are many questions at this early stage that I just won't be able to answer, but we'll provide additional information as it comes,"" Isom said.",CNBC,30/01/2025,"[""In this articleAmerican Airlines CEO Robert Isom said Thursday morning that the regional jet that collided with a Black Hawk military helicopter near Washington, D.C's Reagan National Airport on Wednesday night was on a standard flight path."", 'The collision between American Eagle Flight 5342 and the helicopter occurred at about 9 p.m. Wednesday.', 'Officials do not expect to find any survivors.', '""At this time, we don\'t know why the military aircraft came into the path of the PSA aircraft,"" Isom said at a Thursday morning press conference.', 'Isom said in a staff note Thursday that the National Transportation Safety Board would be the ""sole source of truth going forward, and accuracy is of the utmost importance.', '""PSAAirlinesis an American Airlines subsidiary and one of its regional carriers.', 'American Eagle is how American Airlines brands its regional flights.', '""It is not standard to have aircraft collide.', 'I\'ll be clear on that,"" Transportation Secretary Sean Duffy said at the press conference. ""', 'But prior to the collision, the flight paths that were being flown from the military and from American, that was not unusual for what happens in the D.C. airspace.', '""Isom added that the airline has activated its care team to assist in recovery efforts.', '""We\'re absolutely heartbroken for the family and loved ones of the passengers and crew members and also for those that were on the military aircraft.', 'Our focus right now is doing everything that we can to support all of those involved and also the PSA Airlines team,"" he said.', 'The commercial jet was flying from Wichita, Kansas, to Ronald Reagan Washington National Airport and was moments away from landing on the airport runway.', 'Both vehicles crashed into the Potomac River.', ""Isom urged people to call American's designated helpline at 1-800-679-8215 to find information on their loved ones."", 'Isom, who traveled to Washington on Wednesday night, said American\'s ""go team"" has also been deployed to Washington to provide resources for passengers\' and crew members\' families and loved ones.', 'Sixty-four people were aboard the flight, including 60 passengers and four crew members.', 'Passengers included American and Russian elite figure skaters, their coaches and family members.', 'U.S. Figure Skating said in a statement that the skaters were returning from a training camp in Wichita.', ""Isom said American is working with local, state and federal authorities on the recovery efforts and that PSA Airlines is cooperating with the National Transportation Safety Board's investigation."", '""I know that there are many questions at this early stage that I just won\'t be able to answer, but we\'ll provide additional information as it comes,"" Isom said.']",0.1168998218720883,"Isom said in a staff note Thursday that the National Transportation Safety Board would be the ""sole source of truth going forward, and accuracy is of the utmost importance.","But prior to the collision, the flight paths that were being flown from the military and from American, that was not unusual for what happens in the D.C. airspace.",,,,2025-02-01
+"Billionaire family offices kick off 2025 with investments in AI, health care",https://www.cnbc.com/2025/01/31/family-office-investing-january-arnault-laurene-powell-jobs-premji.html,2025-01-31T15:37:39+0000,"A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Europe's richest person, Bernard Arnault, built his fortune on designer handbags and Champagne. His latest bet: security guards.",CNBC,31/01/2025,"[""A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer."", 'Sign upto receive future editions, straight to your inbox.', ""Europe's richest person, Bernard Arnault, built his fortune on designer handbags and Champagne."", 'His latest bet: security guards.']",0.4680034651153835,"Europe's richest person, Bernard Arnault, built his fortune on designer handbags and Champagne.",,,,,2025-02-01
+Planet lands $230 million contract for Pelican imagery satellites,https://www.cnbc.com/2025/01/29/planet-lands-230-million-contract-for-pelican-imagery-satellites.html,2025-01-29T21:23:41+0000,"In this articleSatellite imagery and data analysis company Planet announced it had signed a $230 million contract on Wednesday, with an anchor customer furthering the rollout of its next-generation Pelican satellites.""It is a momentum-building event. … It's both our biggest deal ever and it's a significant step for us into this satellite services business,"" Planet CEO Will Marshall told CNBC.Planet's deal will see it build Pelican satellites in service to a company in the Asia-Pacific region. Planet said the customer will be identified at a later date, but described the company as a long-standing partner. Marshall said the contract covers ""a couple of years to construct"" the satellites ""and then five years of operation.""""They get dedicated access to the satellites that we're launching for them within their [area of interest] in Asia, and then for the rest of the world, we get to license that data,"" Marshall said.While the deal does not change Planet's previous guidance for its fiscal 2025 fourth-quarter results, the company expects to begin seeing benefits to its balance sheet in fiscal 2026, with payments for building the satellites and providing services to be recognized over about seven years.Planet, which operates more than 200 satellites in orbit, in 2021 unveiled its plans for the more high-powered line of Pelican satellites. Intended to replace the SkySat satellites acquired from Google in 2017, Planet aims to deploy a constellation of as many as 32 Pelican satellites. The company launched its first operational satellite for the constellation, Pelican-2, earlier this month, with the spacecraft notably featuring Nvidia's Jetson edge artificial intelligence platform for improved data processing.""We only had financials to specifically build a subset of [those 32 Pelican satellites], and now we've got the financials to build more, and so we're scaling much faster,"" Marshall said.Shares of Planet rose as much as 14% in trading Wednesday before giving up early gains to end the day 1.65% higher. Planet late Tuesday announced a multiyear contract worth an unspecified amount with the European Space Agency.Additionally, Marshall said the Pelican deal represents Planet's entrance into the satellite services market, effectively selling its spacecraft as an adaptable base to specific customers. It is a market that Planet first dipped into with its Tanager satellite product line, the first of which it built and deployed for the nonprofit group Carbon Mapper.""These customers are often customers we've been working with for years, so they already know and trust our data and our ability to execute. They know we've got a vertically integrated stack of tech, so they know we can deliver satellites in space that work and operate,"" Marshall said.""It's synergistic with our data business,"" he added.Planet went public in 2021 amid the SPAC boom. Similar to other space companies that went public at that time, Planet's stock slid steadily in the years following — with company shares getting hit amid missed revenue targets and workforce layoffs — before bouncing back in 2024.While it lags top-performing space pure-play stocks over the past year, Planet shares have more than doubled over the past 12 months, according to FactSet data.",CNBC,29/01/2025,"['In this articleSatellite imagery and data analysis company Planet announced it had signed a $230 million contract on Wednesday, with an anchor customer furthering the rollout of its next-generation Pelican satellites.', '""It is a momentum-building event. …', 'It\'s both our biggest deal ever and it\'s a significant step for us into this satellite services business,"" Planet CEO Will Marshall told CNBC.Planet\'s deal will see it build Pelican satellites in service to a company in the Asia-Pacific region.', 'Planet said the customer will be identified at a later date, but described the company as a long-standing partner.', 'Marshall said the contract covers ""a couple of years to construct"" the satellites ""and then five years of operation.', '""""They get dedicated access to the satellites that we\'re launching for them within their [area of interest] in Asia, and then for the rest of the world, we get to license that data,"" Marshall said.', ""While the deal does not change Planet's previous guidance for its fiscal 2025 fourth-quarter results, the company expects to begin seeing benefits to its balance sheet in fiscal 2026, with payments for building the satellites and providing services to be recognized over about seven years."", 'Planet, which operates more than 200 satellites in orbit, in 2021 unveiled its plans for the more high-powered line of Pelican satellites.', 'Intended to replace the SkySat satellites acquired from Google in 2017, Planet aims to deploy a constellation of as many as 32 Pelican satellites.', ""The company launched its first operational satellite for the constellation, Pelican-2, earlier this month, with the spacecraft notably featuring Nvidia's Jetson edge artificial intelligence platform for improved data processing."", '""We only had financials to specifically build a subset of [those 32 Pelican satellites], and now we\'ve got the financials to build more, and so we\'re scaling much faster,"" Marshall said.', 'Shares of Planet rose as much as 14% in trading Wednesday before giving up early gains to end the day 1.65% higher.', 'Planet late Tuesday announced a multiyear contract worth an unspecified amount with the European Space Agency.', ""Additionally, Marshall said the Pelican deal represents Planet's entrance into the satellite services market, effectively selling its spacecraft as an adaptable base to specific customers."", 'It is a market that Planet first dipped into with its Tanager satellite product line, the first of which it built and deployed for the nonprofit group Carbon Mapper.', '""These customers are often customers we\'ve been working with for years, so they already know and trust our data and our ability to execute.', 'They know we\'ve got a vertically integrated stack of tech, so they know we can deliver satellites in space that work and operate,"" Marshall said.', '""It\'s synergistic with our data business,"" he added.', 'Planet went public in 2021 amid the SPAC boom.', ""Similar to other space companies that went public at that time, Planet's stock slid steadily in the years following — with company shares getting hit amid missed revenue targets and workforce layoffs — before bouncing back in 2024.While it lags top-performing space pure-play stocks over the past year, Planet shares have more than doubled over the past 12 months, according to FactSet data.""]",0.2290362556712767,"The company launched its first operational satellite for the constellation, Pelican-2, earlier this month, with the spacecraft notably featuring Nvidia's Jetson edge artificial intelligence platform for improved data processing.",,0.7495498731732368,"While the deal does not change Planet's previous guidance for its fiscal 2025 fourth-quarter results, the company expects to begin seeing benefits to its balance sheet in fiscal 2026, with payments for building the satellites and providing services to be recognized over about seven years.","Similar to other space companies that went public at that time, Planet's stock slid steadily in the years following — with company shares getting hit amid missed revenue targets and workforce layoffs — before bouncing back in 2024.While it lags top-performing space pure-play stocks over the past year, Planet shares have more than doubled over the past 12 months, according to FactSet data.",2025-02-01
+"Starbucks shakes up its leadership again, adding two former Taco Bell executives",https://www.cnbc.com/2025/01/28/starbucks-adds-two-former-taco-bell-executives-ahead-of-earnings.html,2025-01-28T21:58:50+0000,"In this articleStarbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.""As we focus on our 'Back to Starbucks' plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for each role,"" Niccol said in a letter to employees shared on the company's website.Starbucks announced the move hours before it reported fiscal first-quarter earnings and revenue that topped analyst expectations. As the company tries to mount a turnaround, same-stores sales declined for the fourth straight quarter, but not as badly as Wall Street expected.Before spending six years at Chipotle, Niccol served as CEO of Yum Brands' Taco Bell. Since starting at Starbucks in September, he has already poached some of his former colleagues to help with his transformation of the coffee giant. For example, he tapped Chipotle and Yum Brands alum Tressie Lieberman as Starbucks' global chief brand officer in the fall.The newest changes to the Starbucks organization include splitting the role of North American president into two jobs. The company's current North American president, Sara Trilling, will depart the company. Trilling has been with Starbucks since 2002.Starting in February, Meredith Sandland will hold the role of chief store development officer. Sandland is currently CEO of Empower Delivery, a restaurant software company. Previously, she served as chief operating officer of Kitchen United and as Taco Bell's chief development officer.Additionally, Mike Grams will join the company in February as North America chief stores officer. Grams has been with Taco Bell for more than 30 years, starting as a restaurant general manager and working his way up to become the chain's global chief operating officer, according to his LinkedIn.Both Sandland and Grams will be tasked with implementing Niccol's vision to go ""back to Starbucks."" The strategy includes decreasing service times to four minutes per order, making its stores more welcoming and cozy, as well as slashing the menu.Arthur Valdez, Starbucks' chief supply officer, also plans to leave the company. He joined in 2023 after seven years at Target. Starbucks has already identified his replacement and will share that news in the coming weeks, Niccol said in the letter.",CNBC,28/01/2025,"['In this articleStarbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.', '""As we focus on our \'Back to Starbucks\' plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for each role,"" Niccol said in a letter to employees shared on the company\'s website.', 'Starbucks announced the move hours before it reported fiscal first-quarter earnings and revenue that topped analyst expectations.', 'As the company tries to mount a turnaround, same-stores sales declined for the fourth straight quarter, but not as badly as Wall Street expected.', ""Before spending six years at Chipotle, Niccol served as CEO of Yum Brands' Taco Bell."", 'Since starting at Starbucks in September, he has already poached some of his former colleagues to help with his transformation of the coffee giant.', ""For example, he tapped Chipotleand Yum Brands alum Tressie Lieberman as Starbucks' global chief brand officer in the fall."", 'The newest changes to the Starbucks organization include splitting the role of North American president into two jobs.', ""The company's current North American president, Sara Trilling, will depart the company."", 'Trilling has been with Starbucks since 2002.Starting in February, Meredith Sandland will hold the role of chief store development officer.', 'Sandland is currently CEO of Empower Delivery, a restaurant software company.', ""Previously, she served as chief operating officer of Kitchen United and as Taco Bell's chief development officer."", 'Additionally, Mike Grams will join the company in February as North America chief stores officer.', ""Grams has been with Taco Bell for more than 30 years, starting as a restaurant general manager and working his way up to become the chain's global chief operating officer, according to his LinkedIn."", 'Both Sandland and Grams will be tasked with implementing Niccol\'s vision to go ""back to Starbucks.""', 'The strategy includes decreasing service times to four minutes per order, making its stores more welcoming and cozy, as well as slashing the menu.', ""Arthur Valdez, Starbucks' chief supply officer, also plans to leave the company."", 'He joined in 2023 after seven years at Target.', 'Starbucks has already identified his replacement and will share that news in the coming weeks, Niccol said in the letter.']",0.1644333841535685,"""As we focus on our 'Back to Starbucks' plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for each role,"" Niccol said in a letter to employees shared on the company's website.","In this articleStarbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.",0.3316976229349772,Starbucks announced the move hours before it reported fiscal first-quarter earnings and revenue that topped analyst expectations.,"As the company tries to mount a turnaround, same-stores sales declined for the fourth straight quarter, but not as badly as Wall Street expected.",2025-02-01
+Pending home sales drop sharply in December as mortgage rates surge back over 7%,https://www.cnbc.com/2025/01/30/december-pending-home-sales-drop-as-mortgage-rates-surge.html,2025-01-30T17:42:21+0000,"Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors.The drop followed four straight months of gains and the index was at its lowest level since August.These so-called pending sales are an indicator of future closings and are the most current indicator of activity in the market. Buyers out shopping in December were facing a big jump in mortgage interest rates, which may have dampened demand.The average rate on the 30-year fixed mortgage went from a low of 6.68% on Dec. 6 to a high of 7.14% on Dec. 19. Realtors had been saying that buyers were getting used to a ""new normal"" of higher interest rates, but the 7% mark appears to be an emotional barrier for buyers.Sales of newly built homes, which are also based on signed contracts, saw gains in December, according to the U.S. Census, but homebuilders have been aggressively buying down mortgage rates to get customers in the door.Pending sales fell in all regions, with the West and Northeast seeing the biggest monthly drops at decreases of 8.1% and 10.3%, respectively. Those regions are where home prices are highest.""Contract activity fell more sharply in the high-priced regions of the Northeast and West, where elevated mortgage rates have appreciably cut affordability,"" said Lawrence Yun, chief economist for the National Association of Realtors. ""Job gains tend to have greater impact in more affordable regions. It is unclear if heavier-than-usual winter precipitation impacted the timing of purchases.""Prices are still stubbornly high and rising across the nation. Annual gains accelerated in late fall and early winter, according to the latest read from the S&P Case-Shiller national home price index.Homebuying demand does not appear to be bouncing back at all in January. Mortgage applications to purchase a home last week were 7% lower than they were the same week one year ago, according to the Mortgage Bankers Association.Homes are also selling at the slowest rate in five years, according to a new report from Redfin. As of the four weeks ending Jan. 26, the typical home listing that went under contract sat on the market for 54 days before the seller accepted an offer, the longest span since March 2020 and a week longer than this time last year.The weakness comes as the supply of homes for sale is finally rising significantly. The number of newly listed homes jumped just over 37% in January compared with December, according to Realtor.com.""The shift in seller activity could mark a turning point in the high mortgage rate-induced standoff between buyers and sellers,"" said Danielle Hale, chief economist at Realtor.com. ""The uptick is likely due to some residual benefit from fall's lower mortgage rates, which could fade.""",CNBC,30/01/2025,"['Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors.', 'The drop followed four straight months of gains and the index was at its lowest level since August.', 'These so-called pending sales are an indicator of future closings and are the most current indicator of activity in the market.', 'Buyers out shopping in December were facing a big jump in mortgage interest rates, which may have dampened demand.', 'The average rate on the 30-year fixed mortgage went from a low of 6.68% on Dec. 6 to a high of 7.14% on Dec. 19.', 'Realtors had been saying that buyers were getting used to a ""new normal"" of higher interest rates, but the 7% mark appears to be an emotional barrier for buyers.', 'Sales of newly built homes, which are also based on signed contracts, saw gains in December, according to the U.S. Census, but homebuilders have been aggressively buying down mortgage rates to get customers in the door.', 'Pending sales fell in all regions, with the West and Northeast seeing the biggest monthly drops at decreases of 8.1% and 10.3%, respectively.', 'Those regions are where home prices are highest.', '""Contract activity fell more sharply in the high-priced regions of the Northeast and West, where elevated mortgage rates have appreciably cut affordability,"" said Lawrence Yun, chief economist for the National Association of Realtors. ""', 'Job gains tend to have greater impact in more affordable regions.', 'It is unclear if heavier-than-usual winter precipitation impacted the timing of purchases.', '""Prices are still stubbornly high and rising across the nation.', 'Annual gains accelerated in late fall and early winter, according to the latest read from the S&P Case-Shiller national home price index.', 'Homebuying demand does not appear to be bouncing back at all in January.', 'Mortgage applications to purchase a home last week were 7% lower than they were the same week one year ago, according to the Mortgage Bankers Association.', 'Homes are also selling at the slowest rate in five years, according to a new report from Redfin.', 'As of the four weeks ending Jan. 26, the typical home listing that went under contract sat on the market for 54 days before the seller accepted an offer, the longest span since March 2020 and a week longer than this time last year.', 'The weakness comes as the supply of homes for sale is finally rising significantly.', 'The number of newly listed homes jumped just over 37% in January compared with December, according to Realtor.com.', '""The shift in seller activity could mark a turning point in the high mortgage rate-induced standoff between buyers and sellers,"" said Danielle Hale, chief economist at Realtor.com.', '""The uptick is likely due to some residual benefit from fall\'s lower mortgage rates, which could fade.""']",0.0039132363294904,Job gains tend to have greater impact in more affordable regions.,The weakness comes as the supply of homes for sale is finally rising significantly.,-0.2283051766847309,"Annual gains accelerated in late fall and early winter, according to the latest read from the S&P Case-Shiller national home price index.","Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors.",2025-02-01
+Comcast shifts strategy to mobile as fourth-quarter broadband numbers disappoint,https://www.cnbc.com/2025/01/30/comcast-shifts-strategy-to-mobile-as-broadband-disappoints.html,2025-01-30T21:14:56+0000,"In this articleCable giant Comcast is looking to the wireless business for growth.Comcast executives said Thursday the company will shift its focus to its mobile business after reporting a loss of 139,000 residential broadband customers during the fourth quarter.Broadband has long been the growth engine of the cable industry, especially after the exodus of cable TV customers. Although broadband segment revenue remains stable, Comcast, like its cable peers, has been in the midst of a slowdown in customer growth, which has concerned investors in recent years.Shares of Comcast fell 11% Thursday.Company executives said during Thursday's earnings call with investors that the company will shift its strategy to package mobile with broadband in a bid for more customers.The stagnation stems from a number of factors, primarily the rise of wireless providers such as Verizon and T-Mobile offering home broadband options.""In short, competitive conditions remain intense, dynamic and varied across our footprint and customer segments,"" Comcast President Mike Cavanagh said on Thursday's investor call. ""And we see no signs of this changing in the near term.""In 2022, Comcast and fellow cable giant Charter Communications each reported their first quarterly decline in broadband subscriber growth.Executives have cited reasons such as the slowdown in buying and selling of homes — noting there are fewer people signing up for cable when they get a new home — as well as a drop-off in additions following robust growth at the height of the Covid pandemic, when lockdowns sent Americans home to work and learn.But the rise of fixed wireless offerings from Verizon and T-Mobile has significantly ramped up competition. In December, Comcast Cable CEO Dave Watson called out the dynamic and warned of a fourth-quarter loss of 100,000 customers. Thursday's announcement amounted to deeper-than-projected subscriber losses.The so-called overbuilding of fiber internet has contributed to the competition, as has fixed wireless, a 5G high-speed broadband offering that is an alternative to cable broadband. Comcast in the past has dismissed fixed wireless as ""an inferior product.""On Thursday CFO Jason Armstrong said the expectation is that fixed wireless, and likely satellite companies, will be ""carving out a permanent part of the market."" He also noted cable's increasing broadband speeds as an advantage.In response, Comcast is looking to mobile to both grow and maintain its customer base.""While we are the incumbent in the $80 billion U.S. residential broadband market, we are the challenger in the far larger $200 billion U.S. wireless market,"" said Armstrong. ""Wireless is an integral part of our broadband strategy.""Comcast now counts more than 7.8 million mobile lines, or 12% penetration of its residential broadband customer base, giving it a ""long runway ahead.""Comcast launched Xfinity Mobile in 2017, while Charter started offering mobile in 2018. The two biggest cable companies in the U.S. have touted consistent quarterly gains of mobile lines since then. Smaller operators such as Altice USA and Cox have also added the offering.Comcast and its cable peers' mobile offerings rely on the wireless network of Verizon, as well as customers' home broadband networks and Wi-Fi hotspots. Only broadband customers of Comcast can sign up for mobile service through the company.Cable companies have said their mobile businesses reduce so-called churn, or the loss of customers, and have been key to gaining new subscribers and driving revenue growth.Cavanagh on Thursday said the company would push to simplify its bundles, following the lead of Charter's mobile and broadband offerings. In September, Charter unveiled a series of changes to its plans, including bundles with mobile, with CEO Chris Winfrey telling CNBC the company ""wanted to make a bold statement.""Disclosure: Comcast owns CNBC parent company NBCUniversal.",CNBC,30/01/2025,"['In this articleCable giant Comcast is looking to the wireless business for growth.', 'Comcast executives said Thursday the company will shift its focus to its mobile business after reporting a loss of 139,000 residential broadband customers during the fourth quarter.', 'Broadband has long been the growth engine of the cable industry, especially after the exodus of cable TV customers.', 'Although broadband segment revenue remains stable, Comcast, like its cable peers, has been in the midst of a slowdown in customer growth, which has concerned investors in recent years.', 'Shares of Comcast fell 11% Thursday.', ""Company executives said during Thursday's earnings call with investors that the company will shift its strategy to package mobile with broadband in a bid for more customers."", 'The stagnation stems from a number of factors, primarily the rise of wireless providers such as Verizon and T-Mobile offering home broadband options.', '""In short, competitive conditions remain intense, dynamic and varied across our footprint and customer segments,"" Comcast President Mike Cavanagh said on Thursday\'s investor call. ""', 'And we see no signs of this changing in the near term.', '""In 2022, Comcast and fellow cable giant Charter Communications each reported their first quarterly decline in broadband subscriber growth.', 'Executives have cited reasons such as the slowdown in buying and selling of homes — noting there are fewer people signing up for cable when they get a new home — as well as a drop-off in additions following robust growth at the height of the Covid pandemic, when lockdowns sent Americans home to work and learn.', 'But the rise of fixed wireless offerings from Verizon and T-Mobile has significantly ramped up competition.', 'In December, Comcast Cable CEO Dave Watson called out the dynamic and warned of a fourth-quarter loss of 100,000 customers.', ""Thursday's announcement amounted to deeper-than-projected subscriber losses."", 'The so-called overbuilding of fiber internet has contributed to the competition, as has fixed wireless, a 5G high-speed broadband offering that is an alternative to cable broadband.', 'Comcast in the past has dismissed fixed wireless as ""an inferior product.', '""On Thursday CFO Jason Armstrong said the expectation is that fixed wireless, and likely satellite companies, will be ""carving out a permanent part of the market.""', ""He also noted cable's increasing broadband speeds as an advantage."", 'In response, Comcast is looking to mobile to both grow and maintain its customer base.', '""While we are the incumbent in the $80 billion U.S. residential broadband market, we are the challenger in the far larger $200 billion U.S. wireless market,"" said Armstrong. ""', 'Wireless is an integral part of our broadband strategy.', '""Comcast now counts more than 7.8 million mobile lines, or 12% penetration of its residential broadband customer base, giving it a ""long runway ahead.', '""Comcast launched Xfinity Mobile in 2017, while Charter started offering mobile in 2018.', 'The two biggest cable companies in the U.S. have touted consistent quarterly gains of mobile lines since then.', 'Smaller operators such as Altice USA and Cox have also added the offering.', ""Comcast and its cable peers' mobile offerings rely on the wireless network of Verizon, as well as customers' home broadband networks and Wi-Fi hotspots."", 'Only broadband customers of Comcast can sign up for mobile service through the company.', 'Cable companies have said their mobile businesses reduce so-called churn, or the loss of customers, and have been key to gaining new subscribers and driving revenue growth.', ""Cavanagh on Thursday said the company would push to simplify its bundles, following the lead of Charter's mobile and broadband offerings."", 'In September, Charter unveiled a series of changes to its plans, including bundles with mobile, with CEO Chris Winfrey telling CNBC the company ""wanted to make a bold statement.', '""Disclosure: Comcast owns CNBC parent company NBCUniversal.']",0.1317674428207308,"Although broadband segment revenue remains stable, Comcast, like its cable peers, has been in the midst of a slowdown in customer growth, which has concerned investors in recent years.",Thursday's announcement amounted to deeper-than-projected subscriber losses.,0.0515672689989993,The two biggest cable companies in the U.S. have touted consistent quarterly gains of mobile lines since then.,"""In 2022, Comcast and fellow cable giant Charter Communications each reported their first quarterly decline in broadband subscriber growth.",2025-02-01