Wholesale egg prices have ‘collapsed.’ Why consumers may soon see relief

Egg shelves in New York on Jan. 21, 2023 with a note apologizing to customers for the price increase. Fatih Aktas/Anadolu Agency via Getty Images Wholesale egg prices have cratered in recent weeks from record highs, meaning consumers may soon see relief at the grocery store. But the dynamics of egg pricing from the wholesale … Read more

Delta raises employee pay 5%, second increase in a year

Nurphoto | Nurphoto | Getty Images Delta Air Lines is raising employee pay 5%, the second time its lifted staff pay in less than a year as a sharp rebound in travel boosts the carrier’s profits and the U.S. labor market remains tight. Delta raised employee pay 4% in May, the first increases since before … Read more

Fed Chair Powell: Inflation fight will take ‘a significant period of time’ | CNN Business

Minneapolis CNN — The US labor market remains “extraordinarily strong” and Friday’s monster jobs report underscored that the central bank has more work to do to bring down inflation, Federal Reserve Chairman Jerome Powell said Tuesday. “We didn’t expect it to be this strong,” Powell said of the January jobs report, which showed the US … Read more

New photos show the Navy recovering downed China spy balloon off U.S. coast

Sailors assigned to Explosive Ordnance Disposal Group 2 recover a high-altitude surveillance balloon off the coast of Myrtle Beach, South Carolina, Feb. 5, 2023. Photo: U.S. Navy The U.S. Navy on Tuesday released photos showing the recovery of the remnants of a Chinese spy balloon that was shot down over the weekend on the orders … Read more

After the Super Bowl, State Farm stadium will have tons of leftovers. Here’s how that food will get to to people in need fast | CNN Business

New York CNN — On Super Bowl Sunday, an army of volunteers will be ready outside and inside State Farm Stadium in Glendale, Arizona to execute a time-sensitive game plan of their own. Their mission: recover and redistribute a tremendous volume of surplus food. Thousands of Eagles and Chiefs fans will gather on February 12 … Read more

Biden plans to go after social media and kids’ mental health in SOTU speech

U.S. President Joe Biden speaks as he attends the DNC 2023 Winter Meeting in Philadelphia, Pennsylvania, U.S., February 3, 2023. Elizabeth Frantz | Reuters U.S. President Joe Biden will take aim at tech companies and discuss data privacy and online safety when he delivers the annual State of the Union address Tuesday night, the White … Read more

Shreveport police chief mourns an unarmed Black man shot dead by one of his officers as state police investigate | CNN

CNN — Louisiana authorities are investigating the deadly shooting of an unarmed Black man by a Shreveport officer and hope eventually to release police footage of the encounter, said state police leading a probe of the encounter. Alonzo Bagley, 43, was shot and killed Friday night after police responded to a domestic disturbance at an … Read more

Jill Biden’s State of the Union guests include Tyre Nichols’ parents, Bono, Ukraine ambassador, Paul Pelosi | CNN Politics

CNN  —  Paul Pelosi, Tyre Nichols’ parents, U2 star Bono, Monterey Park shooting hero Brandon Tsay, Ukraine’s ambassador to the US Oksana Markarova and a Holocaust survivor are among those headed to the US Capitol Tuesday evening where President Joe Biden is set to deliver his State of the Union address. Biden’s remarks will both … Read more

U.S. is ‘absolutely’ behind on supply chain independence from China, Biden advisor says

The U.S. has some rapid catching up to do if it is to secure the reliability of its supply chain and its independence from competitors like China, a top White House advisor admitted this week. “Look, this is a major concern for the U.S. and I think for the rest of the world. As we … Read more

Residents are still being urged to stay away after a controlled release of a toxic chemical at the site of a fiery train derailment in Ohio | CNN

CNN — After crews in East Palestine, Ohio, performed a controlled release of an unstable, toxic chemical that threatened an explosion at the site of derailed train, evacuated residents are still being urged to stay away Tuesday amid the wait for the fire to die down. A boom was heard and a large plume of … Read more

U.S. Treasury bond yields rise — and stock markets fall — on January jobs report

Sean Gallup | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. What you need to know today … Read more

‘He was one of these rockstars’: Former FBI agents shocked at the indictment of one of their own | CNN Politics

Washington CNN — The insular world of FBI counterintelligence agents was rocked last month when one of their own, Charles F. McGonigal, formerly the FBI’s top counterintelligence official in New York, was indicted for allegedly selling access to Russian and Albanian officials in exchange for hundreds of thousands of dollars in cash. After retiring from … Read more

Exclusive: US intel assessment documents Chinese spy balloon incident under Trump | CNN Politics

CNN — A US military intelligence report from last year that focused on China’s use of high-altitude balloons mentioned sightings in Hawaii and Florida during the Trump presidency, according to an excerpt of the report reviewed by CNN. The April 2022 report, titled “People’s Republic of China High-Altitude Balloon,” found a Chinese spy balloon “circumnavigated … Read more

U.S. Treasury bond yields rise — and stock markets fall — on January’s jobs report

Sean Gallup | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. What you need to know today … Read more

Southwest and FedEx jets came within 100 feet of collision at airport in Texas, investigators say | CNN

CNN — A Southwest passenger jet and a FedEx cargo plane came as close as 100 feet from colliding Saturday at the main airport in Texas’ capital, and it was a pilot – not air traffic controllers – who averted disaster, a top federal investigator says. Controllers at Austin’s international airport had cleared the arriving … Read more

Pentagon says it had ‘an awareness gap’ that led to failure to detect 3 Chinese balloons under Trump | CNN Politics

CNN — The American military had a “domain awareness gap” that allowed three other suspected Chinese spy balloons to transit the continental United States undetected under the Trump administration, the Pentagon general responsible for providing air and missile defense over North America said on Monday. “Every day as a NORAD commander, it’s my responsibility to … Read more

Neo-Nazi and woman charged with conspiring to attack Maryland power grid

Brandon Russell is seen in this mugshot from the Pinellas County Sheriff’s Office. Pinellas County Sheriff’s Office via AP An admitted neo-Nazi and a Maryland woman were arrested and charged with plotting to attack several electrical substations in the Baltimore area, federal authorities announced Monday. Prosecutors said the admitted neo-Nazi, Brandon Clint Russell, 27, and … Read more

Crypto exchange Binance will suspend U.S. dollar transfers

Zhao Changpeng, founder and chief executive officer of Binance, attends a conference at Porte de Versailles exhibition center in Paris, France June 16, 2022. Benoit Tessier | Reuters Binance, the world’s largest crypto exchange, will suspend U.S. dollar deposits and withdrawals, the company said Monday, without providing a reason for the decision. “We are temporarily … Read more

Biden to deliver State of the Union address amid high inflation and divided Congress that threaten to derail economy

WASHINGTON — If his recent speeches are any indication, U.S. President Joe Biden will likely celebrate his handling of the economy in his State of the Union address to Congress on Tuesday, citing decades-low unemployment, slowing inflation rates and robust GDP growth. But the full picture is far more complicated. The U.S. economy is in … Read more

35% of millionaires say retirement is ‘going to take a miracle,’ report finds

Why $1 million may not feel like enough The 4% rule is a popular guideline for retirees to determine how much money they can live on each year without fear of running out later. It suggests that retirees can safely withdraw 4% of their investments (adjusted for inflation) each year in retirement. “A million may … Read more

3.8 magnitude earthquake rattles the Buffalo, New York, area | CNN

CNN — A 3.8 magnitude earthquake rattled the Buffalo, New York, area early Monday. The quake struck around 6:15 a.m. and was centered just over a mile northeast of West Seneca at a depth of about 1.9 miles, the US Geological Survey said. There were no immediate reports of damage or injuries, the Buffalo office … Read more

China urges calm after U.S. shoots down suspected spy balloon

“What I want to emphasize regarding this unexpected accident is that both sides, especially the U.S., should remain calm,” said China’s Ministry of Foreign Affairs spokesperson Mao Ning. Aly Song | Reuters BEIJING — China’s Ministry of Foreign Affairs spokesperson Mao Ning urged both sides to remain calm after the U.S. said it shot down … Read more

Chaotic scene erupts outside Texas grocery store after someone posts about ‘free food’ being distributed amid power outages | CNN

CNN — Authorities in Austin, Texas, responded to gridlocked roads near an H-E-B grocery store this week after more than 250 people clamored for food that had been discarded due to the sustained power outage at the location. Travis County Constable Pct.4 George Morales III posted photos of the incident on social media and told … Read more

January’s U.S. jobs reports was stunningly good

A hiring sign is pictured at a McDonald’s restaurant in Garden Grove, California on July 8, 2022. Robyn Beck | Afp | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more

Colorado State apologizes for ‘Russia’ chant at Utah State’s Ukrainian player during basketball game | CNN

CNN — Colorado State University has apologized to Utah State’s Ukrainian junior guard after spectators chanted ‘Russia” toward him at a men’s basketball game in Fort Collins, Colorado, on Saturday night. “We became aware that a small group of individuals in our student section chanted ‘Russia’ at a student-athlete from Utah State, who is from … Read more