The head of Mexico’s detective service acknowledged Tuesday that the country is “the champion” of fentanyl production, something that appears to run counter to past statements by President Andrés Manuel López Obrador. López Obrador has hotly denied in the past that any fentanyl is produced in Mexico, saying Mexican cartels only press it into pills or add finishing touches. But Felipe de Jesus Gallo, the head of Mexico’s Criminal Investigation Agency, said that since the 1990s “Mexico has been the champion of methamphetamine production, and now fentanyl.” He spoke at a U.S.-Mexico conference on synthetic drugs in Mexico City. Experts…
Author: insighter
Investors should consider commodities due to a “big change” involving international expansion, according to VanEck CEO Jan van Eck. “The world economy started growing again,” van Eck told CNBC’s “ETF Edge” this week. He singles out China, the world’s second-largest economy behind the U.S., as a key driver in the expansion. “China which has been such a huge driver of growth and so negative for growth over the last year or two. Manufacturing PMI is now positive in China as of March,” said van Eck. “You now have growth. … So, that leads to your reflation trade.” His firm…
The Federal Trade Commission voted on Tuesday to ban noncompete agreements, which prohibit people from working for their employers’ competitors — or starting a competing business — after they leave their job. The FTC estimates that roughly 30 million workers, or 1 in 5 U.S. adults, are in a noncompete agreement. The rule would go into effect 120 days after it’s published in the Federal Register. Legal challenges are expected, which could delay or prevent the rule from being enacted. The new rule was proposed in January, triggering a 90-day public comment period. The FTC said that more than 26,000…
Wednesday, affectionately known as “Hump Day,” seems like a positive milestone during the week. You’re halfway to the weekend, right? But could this seemingly innocuous day be more stressful than a Monday? Yes, according to the meditation app Balance. Wednesday is the most popular day of the week for its users to search for and complete stress and anxiety meditations. “We don’t think it’s just by chance,” says Leah Santa Cruz, one of Balance’s co-heads of meditation. “By Wednesday, everyone’s knee-deep in their week’s to-dos, whether it’s work responsibilities or personal tasks. It’s like you’re at the halfway mark, staring…
An exterior view of the Advance Auto Parts store at the Sunbury Plaza.Sopa Images | Lightrocket | Getty ImagesCompany: Advance Auto Parts (AAP)Business: Advance Auto Parts is an automotive aftermarket parts provider, serving professional installers and do-it-yourself customers. Its stores and branches offer a selection of brand names, original equipment manufacturers and brand-owned automotive replacement parts, accessories, batteries and maintenance items for a range of vehicles. It operates roughly 4,770 stores and 316 branches within the United States, Canada, Puerto Rico and the U.S. Virgin Islands.Stock Market Value: $4.19B ($70.50 per share)Activist: Third Point and Saddle Point ManagementPercentage Ownership: 8.04% economic…
Elon Musk, CEO of Tesla and owner of social media site X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, on June 16, 2023. Gonzalo Fuentes | Reuters Tesla reported a 9% drop in first-quarter revenue on Tuesday, the biggest decline since 2012, and missed analysts’ estimates, as the electric vehicle company weathers the effect of ongoing price cuts. The stock jumped in extended trading after CEO Elon Musk told investors that production of new affordable EV models could begin sooner than expected.…
A water slide on Savannah, a 274-foot hybrid superyacht. Courtesy of Northrup & Johnson 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. Superyachts sales took a dive in 2023, as long waiting lists, soaring costs and oligarch sanctions hit demand, according to a new report. Sales of new superyachts (yachts over 100 feet long) fell 17% last year, according to the new SuperYacht Times’ State of Yachting report. There were 203 sales of new superyachts in…
Cub Cadet is the maker of lawn mowers, snow blowers and other equipment for home and commercial use. The Cub Cadet credit card, a $0-annual-fee card issued by TD Bank, provides the ability to finance Cub Cadet purchases online or at authorized dealers. It can’t be used to make other purchases at those dealers (though dealers may also offer other financing options). Here are five things to know about the Cub Cadet credit card. 1. It’s only for financing purchases at Cub Cadet The Cub Cadet credit card’s purpose is to provide a reusable line of credit for Cub Cadet…
If you can’t stop your best employee from working for your competitor, what do you do?
The Federal Trade Commission sued to halt the merger between luxury fashion companies Tapestry and Capri over fears of steep price increases on handbags and accessories. But the complaint filed in federal courts on Monday has the fashion conglomerates doubling down on the deal. Tapestry, the company behind Coach, Kate Spade, and Stuart Weitzman, would acquire Capri, which controls Michael Kors, Versace, and Jimmy Choo in a deal valued at $8.5 billion. The move marks the first time the Biden administration has intervened on antitrust grounds in the fashion accessories sector. These large conglomerates believe the merger is necessary in…
A hotter-than-expected consumer inflation reading spooked investors last week, but investors may want to adopt a long-term mindset as they seek buying opportunities. Top Wall Street analysts are calling out their favorite stocks with a focus on their long-term growth prospects. To that end, here are three stocks favored by the Street’s top pros, according to TipRanks, a platform that ranks analysts based on their past performance. Amazon This week’s first pick is e-commerce and cloud computing giant Amazon (AMZN). Ahead of the company’s quarterly results, several analysts have been reaffirming their bullish views on the stock. Mizuho analyst James…
Senate Majority Leader Charles Schumer, D-N.Y., conducts a news conference after the senate luncheons in the U.S. Capitol on Tuesday, March 12, 2024. Tom Williams | CQ-Roll Call, Inc. | Getty Images The Senate on Tuesday advanced a package to provide billions in aid to Israel, Ukraine and Taiwan, sending the legislation on a glide path to become law after a rocky six months of political battles. In a final tally of 80-19, senators passed a crucial procedural vote with wide bipartisan support, signaling that the foreign aid package has the strength to pass a final vote. “The relentless work…