Raphael Stevens

Walmart is seeking a new trial in a case over the firing of a longtime employee with Down syndrome.
In a court filing late Tuesday, Walmart said it did not know about the link between Spaeth’s disability and her struggles to adapt to a new work schedule, which ultimately led to her firing.
The big-box retailer is asking that the damages ordered to be paid to Spaeth be tossed and that a new trial was merited.

Scott Olson | Getty Images

Walmart is seeking a new trial in a case over the firing of a longtime employee with Down syndrome. A jury in July found Walmart wrongfully terminated the employee, Marlo Spaeth, and awarded her monetary damages.
In a court filing late Tuesday, Walmart said it did not know about the link between Spaeth’s disability and her struggles to adapt to a new work schedule, which ultimately led to her firing. Spaeth served as a store associate at a Walmart SuperCenter in Wisconsin for nearly 16 years.

The big-box retailer further claims the U.S. Equal Employment Opportunity Commission, which represented Spaeth in the case, did not show proof that Walmart “discriminated against her ‘with malice or with reckless indifference to [her] federally protected rights.’ ” The company is asking that the damages ordered to be paid to Spaeth be tossed and that a new trial was merited.
Walmart declined to comment beyond the filing. The EEOC did not immediately respond to a request for comment.
The request for a new trial extends a yearslong battle between the company and the EEOC in the disability-discrimination lawsuit. Walmart, the largest private employer in the country, lost the disability lawsuit last year against the EEOC. The federal agency took up the case on behalf of Spaeth.
A jury and judge found that Walmart violated the Americans with Disabilities Act when it fired Spaeth rather than adjusting her schedule as a “reasonable accommodation” to her disability. Her work hours were changed when the Walmart store began using a computerized-scheduling system.
Spaeth and her sister, Amy Jo Stevenson, repeatedly asked supervisors to restore her old schedule but Walmart refused, according to the lawsuit. Walmart began tallying days when Spaeth left the store early and later fired her for excessive absenteeism.

A federal jury ordered the company in July to pay more than $125 million in damages in the lawsuit — one of the highest in the federal agency’s history for a single victim. Those damages were later reduced to $300,000, the maximum allowed under federal law.
In late February, a federal judge ordered Walmart to rehire Spaeth and give her more than $50,000 in back pay. 
Stevenson told CNBC last week that her sister would soon return to her job at the Walmart store. She said the pair were firming up Spaeth’s start date.
Stevenson said her sister’s decision to return after all she had been through was easy, saying she missed the customers and was eager to put on her Walmart vest again.
“She’s going to walk in there proud as a peacock,” Stevenson told CNBC last week. “That’s who she is. She is a Walmart associate. To be that again will make her whole in some sense.”
Stevenson learned of Walmart’s filing when contacted by CNBC on Wednesday morning.
“We believe the jury got it right the first time,” she said. 

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Dr. Scott Gottlieb told CNBC on Wednesday people can still protect themselves against Covid by wearing quality masks like an N95 or KN95.
Gottlieb’s comments were in response to a federal judge striking down the Biden administration’s nationwide mask requirement for transit, including airplanes.
“One-way masking does work,” the former FDA commissioner said.

People concerned about getting Covid can still protect themselves by properly wearing masks, like an N95 or KN95, even if nobody else around is, Dr. Scott Gottlieb told CNBC on Wednesday.
Gottlieb’s comments come two days after a federal judge in Florida nullified the Biden administration’s Covid mask mandate for public transportation, including airlines. Many mask rules for other settings have already been relaxed.

“If you have a good-fitting mask, a high-quality mask on and you’re wearing it well, you’re going to afford yourself a high degree of protection,” the former Food and Drug Administration commissioner said on “Squawk Box.” “One-way masking does work,” he added.
“So people who feel vulnerable, if they continue to do that, are going to be able to protect themselves in that setting even if other people aren’t wearing masks,” argued Gottlieb, who now serves on the board of Covid vaccine maker Pfizer.
In response to the Florida ruling, the Transportation Security Administration indicated it will not enforce the pandemic policy; major U.S. airlines also said they’d no longer require masks.
The Department of Justice signaled Tuesday it will likely appeal the ruling from U.S. Judge Kathryn Kimball Mizelle, who was appointed by former President Donald Trump in 2020.
The end of the public transit mask requirement has been met with relief by some and concern by others, especially people who have underlying health conditions that make them more vulnerable to serious Covid illness.

While many public-health mitigation measures for places like sports venues and restaurants have ended, supporters of the mask mandate for public transit note that some people have no choice but to commute via trains and buses. For that reason, they believe the policy is an important layer of protection against Covid, particularly in light of more transmissible variants.
Gottlieb said he thinks the Center for Disease Control and Prevention should’ve let the mask mandate expire Monday, instead of deciding last week to extend the policy to May 3. However, he acknowledged that people “will be made to feel vulnerable by this policy … especially children under 5 who have health conditions and can’t be vaccinated” and the immunocompromised.
At the same time, Gottlieb said he believes “the masks were probably providing a lot less protection than people assume because most wore cloth masks,” not the highly protective N95s and KN95s.
“For people who feel at risk, I would submit that one-way masking still does work,” reiterated Gottlieb, who led the FDA from 2017 to 2019 in the Trump administration. He again stressed the need for it to be a high-quality mask. “I’m still going to wear a mask in certain occasions where I feel I’m in a confined space and there’s a lot of people around, where I’m in environments where [Covid] prevalence are higher,” he added.

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The Virgin Group founder told CNBC Wednesday that individuals, companies and governments need to play their part to reduce reliance on Russian energy.
Small personal sacrifices would lower demand, bringing down prices and easing the cost-of-living crisis, he said.
Airlines like his own Virgin Atlantic — which have been heavily impacted by rising energy costs as they seek to capitalize on post-pandemic travel demand — could cut certain unprofitable routes, for example, Branson noted.

Virgin Group founder Richard Branson on Wednesday called on individuals and governments to cap their driving speeds and turn down their heating in a bid to reduce reliance on Russian energy and bring about an end to the war in Ukraine.
The billionaire entrepreneur told CNBC that small personal sacrifices could reduce demand for Russian power, in turn bringing down prices and easing the cost-of-living crisis.

“It’s really important than we get rid of our dependence on Russian oil, gas and coal, and we must do that immediately,” Branson told CNBC’s Rosanna Lockwood.
“If we can reduce the West’s dependence on fuel, say by just 10%, that will free up something like three billion barrels of fuel. That will be plenty to make sure that countries like Germany do not have to import anymore,” he said, referring to European countries’ reliance on Russian energy.

The price of oil would come down dramatically and we would not have to continue to send checks to Putin.

Richard Branson
founder, Virgin Group

Russia is a major source of energy for consumers globally. The European Union is particularly dependent, importing 45% of its gas from Russia in 2021, according to the International Energy Agency.
However, Russia’s unprovoked invasion of Ukraine earlier this year has drawn that reliance into question. As governments have sought to reduce their dependence on Russian energy imports — which are seen as funding President Vladimir Putin’s war chest — prices have surged higher as global supply struggles to catch up with demand.
Oil prices moved higher early Wednesday, with Brent crude futures trading at around $108.23 per barrel at 2 p.m. London time.

Reduce speeds, turn down heating

Among Branson’s suggestions for reducing individual energy consumption were cutting household central heating and air conditioning usage by 1% and reducing driving speeds by 10%.
Governments could, for instance, drop the national speed limit from 70 [miles per hour] to 60 for the next year “in order to support Ukraine,” he said.
“The demand for fuel is going to come down dramatically and therefore the price of fuel will come down dramatically and therefore the cost of living will come down dramatically,” he said.

Businesses, meanwhile, can find other ways to limit energy use, Branson said.
Airlines like his own Virgin Atlantic — which have been heavily impacted by rising energy costs as they seek to capitalize on a post-pandemic travel resurgence — could cut certain unprofitable routes, for example.
“If you’re an airline, maybe [cutting] a couple of routes that are not making a lot of money,” Branson said.
“[If] you spread it out across all businesses and everybody around the world, the price of oil would come down dramatically and we would not have to continue to send checks to Putin,” he added.

The clean energy revolution is happening, and will happen much more rapidly than if this war didn’t happen.

Richard Branson
founder, Virgin Group

Branson said his proposals represent the views of a group of business leaders, known as the B Team. The non-profit, founded by Branson and Jochen Zeitz in 2012, seeks to achieve “accountability in business,” according to its website, and has members including Marc Benioff and Arianna Huffington.
The comments follow a blogpost published earlier Wednesday, in which Branson admonished Western countries for sending “billions of dollars to Russia for fossil fuels.”

Cleaner energy and lower prices

Some market observers have suggested that a rapid reduction of Russian energy use would result in the further destabilization of already volatile energy prices.
Branson, however, suggested that it would have the opposite effect, shoring up prices while also assisting countries with their transition to cleaner energy sources.

“The clean energy revolution is happening, and will happen much more rapidly than if this war didn’t happen. But, in the meantime, we can benefit from lower oil prices,” he said.
Virgin Atlantic has previously outlined plans to achieve net-zero carbon emissions by 2050. Branson did not give any update to that schedule Wednesday.
Branson has faced backlash in the past over his commitment to tackling climate change by critics who say he is too focused on heavily energy-dependent industries such as space travel.
He has countered that such endeavors create jobs and can “make space accessible at a fraction of the environmental cost that it’s been in the past.”

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Procter & Gamble’s fiscal third-quarter earnings and revenue topped Wall Street’s estimates.
The company raised its forecast for fiscal 2022 revenue growth but said it also expects inflation to rise in its next quarter.
Price hikes and productivity savings have helped offset some of the impact on P&G’s margins.

Bottles of Tide detergent, a Procter & Gamble product, are displayed for sale in a pharmacy on July 30, 2020 in Los Angeles, California.
Mario Tama | Getty Images

Procter & Gamble on Wednesday reported quarterly earnings and revenue that topped Wall Street’s expectations as price hikes helped to offset widespread inflation and a margins crunch.
The consumer goods giant reported a quarter riddled with economic challenges. Elevated commodity and freight costs dented the company’s margins, but higher prices and productivity savings helped counteract some of the drag on profits.

The company’s gross margin fell 4 percentage points compared with the year-ago period, although its operating margin dropped just 0.1 percentage point in the quarter.
“If we look at the current situation in the markets — the imbalance between supply and demand, geopolitical disruption, the need to disrupt supply chains, higher energy costs due to the war between Ukraine and Russia — all of those will continue to put pressure on the cost side,” CFO Andre Schulten said on a call with journalists.
Despite raising its fiscal 2022 revenue growth outlook, P&G said it expects its core earnings per share for the year to be on the lower end of its prior range.
Shares of the company were flat in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: $1.33 adjusted vs. $1.29 expected
Revenue: $19.38 billion vs. $18.73 billion expected

P&G reported fiscal third-quarter net income of $3.36 billion, or $1.33 per share, up from $3.27 billion, or $1.26 per share, a year earlier.
Excluding items, the company earned $1.33 per share, topping the $1.29 per share expected by analysts surveyed by Refinitiv.
Net sales rose 7% to $19.38 billion, beating expectations of $18.73 billion. The company’s organic revenue climbed 10% in the quarter, although volume, which strips out the impact of currency and price changes, was up just 3%.
“So far our volume assumptions that we made going into the year were more conservative than what we’re seeing in the market, playing out,” Schulten said. “As we’ve taken pricing across the year, so far we see price elasticities — the consumer reaction relative to the increase we’re taking — to be about 20% to 30% more favorable than we would’ve assumed, based on historical data.”
Health care was the top-performing division for the company this quarter, with 16% organic sales growth, helped by a stronger cold and flu season and new sleep and digestive products. The segment includes Vicks and ZzzQuil cold medicine, Oral-B toothbrushes and Crest toothpaste.
P&G’s fabric and home care and its baby, feminine and family care divisions both reported organic sales growth of 10%. Fabric care, which includes Tide detergent, saw double-digit organic sales growth as the company raised prices and offered more premium products. The baby and feminine care segments got a boost from higher prices as well, in addition to market growth.
The company’s grooming segment, which includes Gillette and Venus razors, reported organic sales growth of 8%.
Its beauty division saw the weakest organic sales growth, reporting an increase of just 3%. The segment, which includes brands like Pantene and SK-II, was also the only one to report falling volume for the quarter. The company said hair care sales were hurt by pandemic-related slowdowns in volume.
For fiscal 2022, P&G raised its revenue growth forecast to a range of 4% to 5%, up from its prior outlook of 3% to 4%. The company likewise hiked its forecast for organic sales growth to a range of 6% to 7% from a range of 4% to 5%.
P&G reiterated its core earnings per share forecast for fiscal year 2022 but said it’s expecting the lower end of its predicted range of 3% to 6% growth, citing inflation and currency headwinds.
It’s predicting a $2.5 billion hit from higher commodity costs, $400 million from increased freight costs and $300 million from foreign currency headwinds. It marks the third consecutive quarter that the company has raised its full-year inflation forecast.
Read the full earnings report here.

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Philadelphia reinstated its mask mandate after cases there jumped 50% from April 1 through April 11, health officials said. Hospitalizations were steady as of April 11, but have since rapidly risen.
The number of people hospitalized with Covid there almost doubled last week, from 46 people on April 11 to 82 people on Monday.
Health officials called it a “worrisome sign that this wave could be more dangerous than we had hoped.”

A shopper wearing a protective mask as a precaution against the spread of the coronavirus selects fruit at the Reading Terminal Market in Philadelphia.
Matt Rourke | AP

Philadelphia health officials are keeping the city’s newly reinstated indoor mask mandate in place despite a federal judge’s ruling in Florida that struck down a federal requirement to wear face coverings on public transportation.
The city of brotherly love became the first major city in the U.S. on Monday to reinstate its Covid-19 mask mandate for indoor activities as the highly contagious omicron BA.2 subvariant drives new Covid cases higher across the U.S.

Many cities and states lifted mask mandates in February and March as cases plummeted from a pandemic peak of about 808,000 average new cases a day in mid-January to about 35,000 new cases a day this week. But infections across the U.S. have started to edge up in recent weeks, and cities like Philadelphia are experiencing a new surge in cases.
The Transportation Security Administration on Monday said it would stop enforcing mask rules hours after U.S. Judge Kathryn Kimball Mizelle in Tampa, Fla., ruled that the Centers for Disease Control and Prevention overstepped its bounds when it mandated face coverings on planes, trains, buses and other forms of public transportation.

Masked and unmasked travelers line up at a security checkpoint after the Biden administration announced it would no longer enforce a U.S. coronavirus disease (COVID-19) mask mandate on public transportation, following a federal judge’s ruling that the 14-month-old directive was unlawful, at Ronald Reagan Washington National Airport in Arlington, Virginia, U.S., April 19, 2022.
Kevin Lamarque | Reuters

While the ruling may lift Philadelphia’s mask rules on public transportation, the mandate still remains in place for other indoor venues, including restaurants, gyms and businesses.
“We are evaluating the implications of this latest ruling and will provide further clarity around masking on transit in Philadelphia when available. This ruling does not impact the city’s mask mandate for certain indoor places.” James Garrow, director of communications at the Philadelphia Department of Public Health, said in an email to CNBC.  
Philadelphia reinstated its mask mandate after cases there jumped 50% from April 1 through April 11, health officials said. Hospitalizations were steady as of April 11, but have since rapidly risen. The number of people hospitalized with Covid there almost doubled last week, from 46 people on April 11 to 82 people on Monday — what health officials called a “worrisome sign that this wave could be more dangerous than we had hoped.”

“We have been watching this wave of the pandemic sweep over Europe and it looks like it’s coming to Philadelphia now,” Health Commissioner Dr. Cheryl Bettigole said in a statement Monday. “We need to do whatever we can to make sure that our most vulnerable neighbors and loved ones stay safe. Each and every one of us has the ability to save lives today by putting our masks on and helping to stop the increase in cases.”
The city had been at Level 1, or “all clear,” after the initial omicron surge receded, meaning that mandatory measures such as indoor mask mandates had been lifted, according to Philadelphia’s public radio station. But the recent uptick in cases driven by BA.2 moved the city to level two, or “caution,” which requires masks. 
The mask mandate will be lifted once Philadelphia meets the thresholds of the “all clear” level again, according to the city. 
Other major city leaders have been hesitant to reintroduce the politically unpopular requirements.
In Chicago, the Department of Public Health said the return of a mask mandate is not expected in the near future, even as the city sees an uptick in cases.
“That is not something that we’re talking about at this time,” said Dr. Amaal Tokars, acting director of the department, according to NBC Chicago.  “However, I would never say that nothing has passed, but we are going to do what we think is wisest and best based on the current circumstances that we see.”
In Massachusetts, the public health commissioner said there are no plans at this time to reinstate a statewide mask mandate. Hawaii’s governor also said last week he is not considering reimposing a mask requirement for indoor public spaces. The state was the last to lift its mask mandate at the end of March. 
Similarly, public health officials from the state of Washington said the return of the mask mandate is not “in our best interest.” 
“I think what’s pretty clear is the public is pretty tired of mandates, and so I think (we) really need to use that power judiciously,” said state epidemiologist Dr. Mike Lindquist in an interview on TVW, Washington’s public affairs network. 
CNBC’s Spencer Kimball contributed to this report. 

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Siemens Gamesa CEO says announcement demonstrates firm’s “capacity to optimize its portfolio of assets and maximize value.”
The capacity of the onshore wind projects comes to 3.9 gigawatts.
If all goes to plan, the deal between SGRE and SSE is slated for completion by the end of September.

Details of the agreement between SSE and SGRE were announced on the same day the latter released preliminary results for the second quarter, reporting revenue of around 2.2 billion euros and an operating loss of roughly 304 million euros.
Paul Ellis | AFP | Getty Images

Siemens Gamesa Renewable Energy has agreed to sell assets in southern Europe to Scotland-headquartered energy firm SSE for 580 million euros (around $628 million), with around 40 of the turbine maker’s employees moving to SSE as part of the deal.
In a statement released on Tuesday, SGRE said the sale included “a pipeline of onshore wind projects” in Greece, Spain, France and Italy.

The capacity of these projects — which Siemens Gamesa said were “in various stages of development” — comes to 3.9 gigawatts. There is also the potential to develop co-located solar photovoltaic projects with a capacity of up to 1 GW.
Jochen Eickholt, the CEO of Siemens Gamesa, said the announcement demonstrated his company’s “capacity to optimize its portfolio of assets and maximize value.”
SSE Renewables’ Managing Director, Stephen Wheeler, said the project portfolio would “provide a real springboard for our expansion plans in Europe across wind, solar, batteries and hydrogen.”

More from CNBC Climate:

Commenting on the sale, Laura Hoy, equity analyst at Hargreaves Lansdown, said: “SSE’s doubling down on its renewables efforts, and today’s announcement of a €580m bet on Southern European wind projects is evidence of management’s conviction.”
“On the surface this looks like the right play — transitioning toward cleaner energy is the clear direction of travel and the group’s seen output improve steadily over the past few months.”

Nevertheless, “having more wind in the sails doesn’t guarantee smoother seas,” she added.
“Performance in SSE’s renewables division has left something to be desired so far this year, and though it seems things are improving, output is still well below targets.”
“Pouring money into a yet unproven part of the business is a risky move to be sure — but at present it seems like the only way forward if growth is eventually on the menu.”

Read more about clean energy from CNBC Pro

Details of the agreement between SSE and SGRE were announced on the same day the latter released preliminary results for the second quarter, reporting revenue of around 2.2 billion euros and an operating loss of roughly 304 million euros.
The company said its performance had been “severely impacted by product and execution related issues,” going on to add that previous guidance for the 2022 financial year was “no longer valid” and “under review.”
It has been a challenging period for Siemens Gamesa. In February, it said it expected revenue for the 2022 fiscal year to shrink by between 9% and 2% year-over-year, having previously earmarked a contraction of between 7% and 2%.
The company also revised its operating profit margin, or EBIT margin before purchase price allocation and integration and restructuring costs, to between -4% and 1%, having earlier forecast growth between 1% and 4%.
On Tuesday, the company said it would “continue to work to achieve revenue within our year-on-year revenue growth range of -9% and -2%, and towards the low end of our previously communicated EBIT pre PPA and I&R costs margin guidance range of -4%, including for both now the positive impact of the Asset Disposal.” The Asset Disposal refers to the newly announced deal with SSE.
Meanwhile, SSE said at the end of March that it expected “full-year 2021/22 adjusted earnings per share to be in a range of between 92 and 97 pence compared to previous guidance of at least 90 pence.”
Siemens Energy, which has a 67% stake in Siemens Gamesa, said on Tuesday that it was also reassessing its guidance for the 2022 fiscal year as a result of SGRE’s announcement.
The company also pointed to other headwinds. “Because of the war against Ukraine and the sanctions imposed on Russia the operating environment for Siemens Energy has become more challenging,” it said, confirming it was “complying with all sanctions and has stopped any new business in Russia.”
Due to the war, Siemens Energy said it had “started to see an impact on revenue and profitability” and was also “experiencing an aggravation of existing supply chain constraints.”
“Due to the dynamic development of the sanctions regime, management is not able to fully assess the potential impact for the remainder of the fiscal year at this point in time and can therefore not rule out further negative effects on revenue and profitability,” it said.
Shares of Siemens Energy were down by around 1.5% on Wednesday at midday London time. Siemens Gamesa’s shares were up by 5.4% after a lower open. If all goes to plan, the deal between SGRE and SSE is slated for completion by the end of September. More

BMW is adding an all-electric model to its flagship 7-Series sedan lineup as the German luxury brand pivots to EVs to better compete against industry leader Tesla.
The new EV, called the i7, was unveiled on Wednesday and is expected to arrive at U.S. dealerships during the fourth quarter.
BMW said the starting sticker price will be $119,300.

BMW 760i xDrive (European model shown)

BMW is adding an all-electric model to its flagship 7-Series sedan lineup as the German luxury brand pivots to EVs to better compete against industry leader Tesla.
The new EV, called the i7, was unveiled on Wednesday and is expected to arrive at U.S. dealerships during the fourth quarter. The i7 will be BMW’s third all-electric vehicle, following the iX crossover and i4 midsize sedan.

Starting prices for the 2023 BMW 7-Series will range from $93,300 for a 740i with a 3.0-liter, twin-turbo six-cylinder engine, to $119,300 for the electric i7 xDrive60. A 760i xDrive model powered by a V-8 engine will start at $113,600. The non-EV versions feature a mild hybrid system to improve performance and fuel economy, according to the company.

BMW 7-Series i7 xDrive60 electric sedan

BMW called the new electric i7 a “fully integrated member of the 7 Series line” — from its luxurious-looking interior with a plethora of screens to its stylish exterior. Preorders for the vehicle opened Wednesday.
The exterior of the new 7-Series lineup marks an evolution of BMW’s design language, which includes sleeker lines and larger grilles. The cars also feature a more muscular design and stance compared to the smoother look of the current models.
The new 7-Series features a 12.3-inch information display behind the steering wheel and a 14.9-inch control display screen. There’s also the “BMW Interaction Bar” across the front instrument panel below the main screens to control climate, ventilation and other functions.

BMW 760i xDrive (European model shown)

The rear interior highlight is the “BMW Theater Screen,” which includes a 31.3-inch 8K touchscreen display with Amazon Fire TV that was previewed by the company earlier this year in a concept vehicle.

The performance of the new 7-Series lineup varies based on the model. The i7’s two electric motors produce a combined output of 536 horsepower and 549 pound-foot of torque. The vehicle is estimated to be capable of traveling 300 miles on a single charge, and accelerate from 0-60 mph in about 4.5 seconds, according to BMW.
Vehicles with the 4.4-liter twin-turbo V-8 engine produce a combined output of 536 horsepower and 553 pound-foot of torque. The V-8 model is expected to achieve 0-60 mph in 4.2 seconds.

BMW 7-Series i7 xDrive60 electric sedan

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