People secure their boats ahead of the arrival of Hurricane Helene in Cancun, Quintana Roo state, Mexico on September 24, 2024.Elizabeth Ruiz | AFP | Getty ImagesTropical Storm Helene was rapidly strengthening in the Caribbean Sea and expected to become a hurricane Wednesday while moving north along Mexico’s coast toward the U.S., prompting residents to evacuate, schools to close and officials to declare emergencies in Florida and Georgia.The storm is forecast to be “near hurricane strength” when it passes near Mexico’s Yucatan Peninsula early Wednesday, the U.S. National Hurricane Center said, and to “intensify and grow in size” as it…
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Jakub Porzycki | Nurphoto | Getty ImagesGoogle filed an antitrust complaint with the European Commission Wednesday accusing Microsoft of using unfair licensing contracts to stifle competition in the multibillion-dollar cloud computing industry.At the heart of Google’s complaint is the allegation that Microsoft uses unfair licensing terms to “lock in” clients and exert control over the cloud market.Google alleges that Microsoft, through its dominant Windows Server and Microsoft Office products, can make it difficult for its massive roster of clients to use anything but its Azure cloud infrastructure offering.The internet giant said in its complaint that restrictions contained in Microsoft’s cloud…
Boeing CEO Dave Calhoun testifies before a subcommittee of the Senate Energy and National Resources Committee on the company’s safety culture, following a number of recent incidents on Boeing airplanes, Washington, DC, June 18, 2024. Allison Bailey | Afp | Getty ImagesA U.S. Senate panel investigating Boeing’s safety culture on Wednesday faulted the planemaker’s quality practices and oversight by the Federal Aviation Administration citing documents obtained in an ongoing investigation.The Senate Permanent Subcommittee on Investigations, which is holding a hearing Wednesday with FAA Administrator Mike Whitaker, said Boeing workers continue to feel pressure to prioritize speed of production over quality.The committee’s…
A sign is posted in front of a home for sale in San Rafael, California, on Aug. 7, 2024.Justin Sullivan | Getty ImagesA steady decline in mortgage rates to two-year lows has current homeowners rushing to take advantage of potential savings.Applications to refinance a home loan surged 20% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand was a stunning 175% higher than the same week one year ago.This as the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.13% from 6.15%, with…
Bettina Orlopp, chief financial officer of Commerzbank AG, speaks during a fourth quarter earnings news conference at the bank’s headquarters in Frankfurt, Germany, on Thursday, Feb. 13, 2020.Alex Kraus | Bloomberg | Getty ImagesCommerzbank announced Tuesday it has picked 10-year veteran, and current Chief Financial Officer Bettina Orlopp to helm the bank as chief executive as it seeks to fend off a potential hostile takeover from Italian bank UniCredit.The bank has been on the defensive as UniCredit looks to become its largest shareholder, signaling the potential for a full takeover.Earlier this month, the Milan-based bank started building its shareholding with…
Gisèle Pelicot waived anonymity to make public the trial of her former husband and the 50 men accused of joining him in raping her. The trial has revived the question of consent within French law and turned Ms. Pelicot into a feminist icon. Catherine Porter, an international correspondent for The New York Times based in France, explains. Source link
(This is CNBC Pro’s live coverage of Wednesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) An electric vehicle maker and an enterprise tech name were among the stocks being talked about by analysts on Wednesday. Piper Sandler raised its price target on Tesla to $310. Meanwhile, Barclays upgraded Hewlett Packard Enterprise to overweight. Check out the latest calls and chatter below. All times ET. 6:01 a.m.: JPMorgan upgrades Brazilian oil giant to overweight Petrobras stands out amongst its Latin American oil peers, JPMorgan said. The firm upgraded shares to overweight from…
US President Joe Biden (R) shakes hands with Speaker of the House Mike Johnson as they attend the National Prayer Breakfast Foundation’s annual event at the US Capitol in Washington, DC, on February 1, 2024. Brendan Smialowski | Afp | Getty ImagesThe Biden administration on Tuesday announced its support for the latest short-term government funding proposal, greatly reducing the chances of a partial shutdown ahead of the Nov. 5 presidential election.In a statement from the Office of Management and Budget, the White House applauded the bill for giving Congress “more time to complete full-year funding bills later this year that deliver…
25 September 2024, Berlin: The German Green Party leaders Omid Nouripour and Ricarda Lang resign. Photo: Fabian Sommer/dpa (Photo by Fabian Sommer/picture alliance via Getty Images)Fabian Sommer | Picture Alliance | Getty ImagesThe joint leaders of the German Greens, Omid Nouripour and Ricarda Lang said they would step aside, making way for a new leadership to be elected at the next party congress.The decision comes after a series of heavy election defeats for the party, which serves in Social Democrat Chancellor Olaf Scholz’s coalition. Source link
NBA super agent and founder of Klutch Sports Group Rich Paul knows there are certain people who believe he’s only achieved what he has today because of his more than 20-year friendship with LeBron James. But the 43-year-old says he has been building up to this success all his life. “Many people think, ‘He was LeBron’s friend, LeBron gave him a job,'” Paul said during an appearance at CNBC x Boardroom’s Game Plan Summit. “He did give me an opportunity I’m extremely appreciative of. But that wasn’t representing him. I didn’t get my opportunity to represent him until his 9th year…
