Daily Briefing: Meet Mark Carney
Daily Briefing: Meet Mark Carney
Canada's new prime minister has his sights set on fighting President Donald Trump's tariffs.
Wildfires blazed over the weekend in the Hamptons.
Did actor Gene Hackman even know his wife was dead?
🙋🏼♀️ I'm Nicole Fallert, Daily Briefing author. Groggy this morning? Blame Daylight Savings.
Harvard grad. Former banker: Meet Canada's new prime minister
"Donald Trump has put unjustified tariffs on what we build, on what we sell, on how we earn a living. He's attacking Canadian workers, families, and businesses. We can't let him succeed and we won't."
~ Incoming Canadian Prime Minister Mark Carney in his first speech since being elected as Liberal Party leader on Sunday. He directly spoke about President Trump and the threat against Canadians.
Wildfires break out on Long Island
New York Gov. Kathy Hochul has declared a state of emergency after wildfires blazed Saturday afternoon in the Hamptons. There is no threat to homes at this time, officials said, but fires are burning close to roads and drivers, and smoke could be seen for miles. Strong winds and dry conditions kept one fire burning, Long Island officials said. There was no indication of when the remaining fire would be contained.
More news to know now
Wake up slowly with today's crossword. Sally's hint: FaceTime.
Mass layoffs are coming for Veterans Affairs
Veterans groups, Democrats and some Republicans have voiced concern over planned reductions at the Department of Veterans Affairs, which is seeking to cut more than 80,000 workers from the agency starting in June. The scale of the layoffs at the VA is greater than proposed cuts at other agency and will hit a department that looks after a group that typically garners wide bipartisan support in the U.S., its military veterans. Advocates say the cuts veterans' health benefits in "grave danger."
A Truth Social post, a dinner and a reported feud
Shortly after President Donald Trump attempted to clamp down on a recent report of an explosive cabinet meeting between billionaire Elon Musk and Secretary of State Marco Rubio, he ate dinner with the duo. The dinner follows a New York Times report that Musk and Rubio clashed at a Cabinet meeting last week, with Trump present, about the former senator failing to cut his staff. The Times reported Rubio had been "privately furious" with Musk for weeks as DOGE gutted the United States Agency for International Development (USAID), which was being overseen by the ex-Florida lawmaker. The argument, according to the Times, dragged on for an "uncomfortable time."
Today's talkers
A mask, a cane and a frantic dog: The final hours of Gene Hackman and Betsy Arakawa
Betsy Arakawa was already dead, splayed on a bathroom floor of the Santa Fe home she shared with celebrated actor Gene Hackman, who didn't make any calls or otherwise ask for help for the seven days he outlived his wife. Hackman, 95, racked by advanced Alzheimer's disease, then died in a mudroom on the other side of the house, a cane and sunglasses nearby. What exactly did Hackman do during that time?
Photo of the day: Taking the walk in Selma
Thousands made the pilgrimage to Selma, Alabama, on Sunday to the 60th anniversary of Bloody Sunday, a day that lead to passage of the Voting Rights Act and enact real change in the nation. As marchers crossed the bridge at about noon, rain began to fall while they sang "We Shall Overcome."
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an hour ago
Trump signs measure blocking California's ban on new sales of gas-powered cars
WASHINGTON -- President Donald Trump signed a resolution on Thursday that blocks California's first-in-the-nation rule banning the sale of new gas-powered cars by 2035. The state quickly announced it was challenging the move in court, with California's attorney general holding a news conference to discuss the lawsuit before Trump's signing ceremony ended at the White House. The resolution was approved by Congress last month and aims to quash the country's most aggressive attempt to phase out gas-powered cars. Trump also signed measures to overturn state policies curbing tailpipe emissions in certain vehicles and smog-forming nitrogen oxide pollution from trucks. Trump called California's regulations 'crazy' at a White House ceremony where he signed the resolutions. 'It's been a disaster for this country,' he said. It comes as the Republican president is mired in a clash with California's Democratic governor, Gavin Newsom, over Trump's move to deploy troops to Los Angeles in response to immigration protests. It's the latest in an ongoing battle between the Trump administration and heavily Democratic California over issues including tariffs, the rights of LGBTQ+ youth and funding for electric vehicle chargers. The state is already involved in more than two-dozen lawsuits challenging Trump administration actions, and the state's Democratic Attorney General Rob Bonta announced the latest one at a news conference in California. Ten other states, all with Democratic attorneys general, joined the lawsuit filed Thursday. 'The federal government's actions are not only unlawful; they're irrational and wildly partisan,' Bonta said. 'They come at the direct expense of the health and the well-being of our people.' The three resolutions Trump signed will block California's rule phasing out gas-powered cars and end the sale of new ones by 2035. They will also kill rules that phase out the sale of medium- and heavy-duty diesel vehicles and cut tailpipe emissions from trucks. In his remarks at the White House, Trump expressed doubts about the performance and reliability of electric vehicles, though he had some notably positive comments about the company owned by Elon Musk, despite their fractured relationship. 'I like Tesla,' Trump said. In remarks that often meandered away from the subject at hand, Trump used the East Room ceremony to also muse on windmills, which he claimed 'are killing our country,' the prospect of getting electrocuted by an electric-powered boat if it sank and whether he'd risk a shark attack by jumping as the boat went down. 'I'll take electrocution every single day," the president said. When it comes to cars, Trump said he likes combustion engines but for those that prefer otherwise, 'If you want to buy electric, you can buy electric.' 'What this does is it gives us freedom,' said Bill Kent, the owner of Kent Kwik convenience stores. Kent, speaking at the White House, said that the California rules would have forced him to install 'infrastructure that frankly, is extremely expensive and doesn't give you any return.' The Alliance for Automotive Innovation, which represents major car makers, applauded Trump's action. 'Everyone agreed these EV sales mandates were never achievable and wildly unrealistic,' John Bozzella, the group's president and CEO, said in a statement. Newsom, who is considered a likely 2028 Democratic presidential candidate, and California officials contend that what the federal government is doing is illegal and said the state plans to sue. Newsom said Trump's action was a continuation of his 'all-out assault' on California. 'And this time he's destroying our clean air and America's global competitiveness in the process,' Newsom said in a statement. 'We are suing to stop this latest illegal action by a President who is a wholly-owned subsidiary of big polluters.' The signings come as Trump has pledged to revive American auto manufacturing and boost oil and gas drilling. The move follows other steps the Trump administration has taken to roll back rules that aim to protect air and water and reduce emissions that cause climate change. The Environmental Protection Agency on Wednesday proposed repealing rules that limit greenhouse gas emissions from power plants fueled by coal and natural gas. Dan Becker with the Center for Biological Diversity, said the signing of the resolutions was 'Trump's latest betrayal of democracy.' 'Signing this bill is a flagrant abuse of the law to reward Big Oil and Big Auto corporations at the expense of everyday people's health and their wallets,' Becker said in a statement. California, which has some of the nation's worst air pollution, has been able to seek waivers for decades from the EPA, allowing it to adopt stricter emissions standards than the federal government. In his first term, Trump revoked California's ability to enforce its standards, but Democratic President Joe Biden reinstated it in 2022. Trump has not yet sought to revoke it again. Republicans have long criticized those waivers and earlier this year opted to use the Congressional Review Act, a law aimed at improving congressional oversight of actions by federal agencies, to try to block the rules. That's despite a finding from the U.S. Government Accountability Office, a nonpartisan congressional watchdog, that California's standards cannot legally be blocked using the Congressional Review Act. The Senate parliamentarian agreed with that finding. California, which makes up roughly 11% of the U.S. car market, has significant power to sway trends in the auto industry. About a dozen states signed on to adopt California's rule phasing out the sale of new gas-powered cars.
CNBC
an hour ago
- CNBC
BlackRock outlines vision for the future, and Oracle gives a lift to the AI trade
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market update: Wall Street overcame a weaker open to trade higher by Thursday afternoon. The S & P 500 is looking to get back to its winning ways after a three-session winning streak was snapped a day earlier. New data helped by showing the economy is holding up well. Wholesale prices for May rose less than expected, while jobless claims for the week ended June 7 were unchanged. However, a lack of news on President Donald Trump's tariff policies, especially an update on its deal with China, seem to be keeping a lid on stocks. AI trade: Most of our stocks linked to the AI infrastructure trade are higher Thursday, and Oracle — and its strong quarterly results fueled by its cloud-computing segment — is likely to thank for that. Broadcom and Nvidia , which design the data center chips that fuel AI applications, are up roughly 0.8% and 1.1%, respectively. Eaton , which makes electrical equipment and power systems that help run data centers, is up about 1.5%. GE Vernova , whose gas and wind turbines help generate the electricity that feeds data centers, was up fractionally. But keep in mind that GE Vernova, in particular, has been red hot lately, so it's not surprising to see a more modest move there. Blackrock updates: BlackRock hosted its 2025 investor day on Thursday. The focus of the day was on 2030 financial targets, including a reiteration of its 5% or greater organic base fee growth, and an adjusted operating margin goal of 45% or higher. The muted reaction in the stock may speak to investors hoping for more than a simple reiteration of the 5% or greater fee growth target. And while management did seem to emphasize the "or greater" part of the target, some on Wall Street were already expecting that emphasis, at a minimum. BlackRock is also looking to grow revenue at a 10% annual rate, achieve sales of more than $35 billion by 2030 (up from $20 billion in 2024), resulting in adjusted operating income of $15 billion (up from $8 billion in 2024). Of course, a major driver of this growth will be private markets and technology segment growth, which the firm is looking to more than double to 30% of revenue by 2030 from 15% in 2024. Driving the private markets growth is a goal of raising $400 billion in gross assets by 2030. The Club's Morgan Chittum this week wrote about BlackRock's strategic move into private markets, and how its smallest deal of 2024 may end up being its most consequential. Up next: Software giant Adobe and RH , the luxury home furnishings seller, are set to report after the bell Thursday. Another thing on our radar after the close is an interview on CNBC with Advanced Micro Devices CEO Lisa Su. Fresh off the chipmaker's "Advancing AI" event, we look forward to her thoughts on demand for AI processors generally and insights into the company's strategy for competing against Nvidia and Broadcom. The calendar is pretty light Friday on economic data, though we'll get the University of Michigan's latest consumer sentiment survey at 10 a.m. ET. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
San Francisco Chronicle
an hour ago
- San Francisco Chronicle
Border Patrol will be at the Club World Cup, says it's routine to provide security for such events
U.S. Customs and Border Protection said it regularly provides security at big sporting events in response to questions about the agency's presence at the FIFA Club World Cup amid President Donald Trump's immigration crackdown. "U.S. Customs and Border Protection is committed to working with our local and federal partners to ensure the FIFA Club World Cup 26 is safe for everyone involved, as we do with every major sporting event, including the Super Bowl. Our mission remains unchanged," the agency said Thursday in response to an inquiry by The Associated Press. The agency had previously deleted a social media post that said its officers would be 'suited and booted' for the opening round this weekend of Club World Cup games. FIFA President Gianni Infantino addressed questions about CBP involvement during an event earlier this week promoting Saturday's opener between Inter Miami and Al Ahly at Hard Rock Stadium in Miami Gardens, Florida. 'No, I don't have any concerns about anything in the sense that we are already attentive on any security question," Infantino said. "Of course, the most important for us is to guarantee security for all fans who come to the games. And this is our priority.' Border Patrol agents have routinely been called in to help with security for large events, including the Super Bowl. They handle things like screening cargo shipments into stadiums for hazardous materials and contribute to emergency planning. At last year's Copa America final at Hard Rock Stadium, throngs of fans breached security gates and forced the game to be delayed. The Club World Cup features 32 teams from across the globe playing in 11 cities nationwide through July 13. ___
