Raphael Stevens

In this articleSBUXStarbucks CEO Kevin Johnson speaks during the company’s annual shareholders meeting at WAMU Theater, on March 20, 2019 in Seattle, Washington.Stephen Brashear | Getty ImagesStarbucks filed an application with the U.S. Patent and Trademark Office earlier in June for the right to use its name on a stadium or training facilities.If approved, the coffee giant could join the likes of FedEx, Little Caesars and Barclays as a corporate sponsor of a stadium or arena. Companies are willing to shell out big bucks for the brand awareness and fan loyalty that can be derived from a high-profile venue with the corporation’s name. Last year, Amazon reportedly spent $300 million to $400 million on the rights for an arena in Seattle, now called the Climate Pledge Arena.A Starbucks spokesperson said the company has no further details to share beyond the June 2 filing.According to the filing, Starbucks is seeking approval to use its name to promote the “business, sports and entertainment events of others” and provide “stadium and training facilities for sports and entertainment activities.”Trademark attorney Josh Gerben noted the filing on Friday on Twitter, saying this is how a company would file a trademark application if it’s seeking the naming rights to a stadium.Shares of Starbucks were roughly flat in morning trading. The stock has risen 5% this year, giving it a market value of $132 billion. More

chameleonseye | iStock | Getty ImagesSuicide attempts surged among 12- to 17-year-olds, especially adolescent girls, during the Covid-19 pandemic and got worse the longer social distancing orders and government lockdowns persisted, according to new data from the Centers for Disease Control and Prevention.Emergency department visits at hospitals among adolescents were already increasing in early May 2020 when the pandemic was spreading across the U.S., the CDC said in a study released Friday. From late July to late August 2020, the average weekly number of emergency department visits for suspected suicide attempts among 12- to 17-year-old girls increased by 26.2% from the same period a year prior.The disruption of daily life with pandemic lockdowns and social distancing orders may have contributed to the rise in suicide attempts, the CDC said. In spring 2020, there was a 16.8% drop in emergency department visits among men and women aged 18 to 24 compared with the same time period a year prior.By June 2020, 25% of surveyed adults in the same age group reported experiencing suicidal thoughts related to the pandemic in the last 30 days, consistent with 2019. But actual emergency room visits for suicide attempts rose throughout the pandemic, the CDC said.In adolescent girls, average weekly visits to the emergency department for suspected suicide attempts from February 2021 to March 2021 jumped by 50.6% from the same time period during the prior year.Emergency department visits for suspected suicide attempts include visits for suicide attempts, as well as some nonsuicidal self-harm, according to the CDC.The data was gathered by the CDC from the National Syndromic Surveillance Program’s emergency department visit data in 49 states. Not all of the states had consistent emergency department visit data and race and ethnicity data were not available at the time of the study.Suspected suicide attempts are often higher among young girls than young boys, but in this study, the difference was more pronounced than prior studies, due to the pandemic. The study points to an increase in emergency department visits for suspected suicide attempts, not an increase in actual suicides, the CDC emphasized in the study.CNBC Health & Science Read CNBC’s latest global coverage of the Covid pandemic:Suicide attempts among adolescent girls surge by more than 50% during pandemic, CDC says Royal Caribbean says no change to sailing plans despite Covid cases on Celebrity ship   The FDA reportedly forces J&J to scrap about 60 million doses of its Covid vaccine  CDC says heart inflammation in 16- to 24-year-olds was higher than expected after second Covid shotThe increase in suspected suicide attempts by young people could be attributed to social distancing, including a lack of connection to schools, teachers and friends. Other factors could include barriers to mental health treatment, an increase in substance abuse, and anxiety about the health and economic state of the family at home.Average emergency department visit rates for mental health concerns and suspected child abuse also increased in 2020 compared with 2019, potentially contributing to the increase in suspected suicide attempts.The study notes that increased time at home for kids may have alerted parents to their child’s mental health struggles and led them to seek treatment at emergency departments, potentially contributing to the rise.The study also noted that the data likely underrepresents the real number of suspected suicide attempts because Americans were hesitant to go to hospitals during the pandemic, in fear of contracting Covid-19.If you or someone you know is in crisis, call the National Suicide Prevention Lifeline at 800-273-8255. More

In this articleMRNAA healthcare worker holds a vial of the Moderna COVID-19 Vaccine at a pop-up vaccination site operated by SOMOS Community Care during the coronavirus disease (COVID-19) pandemic in New York, January 29, 2021.Mike Segar | ReutersModerna has not found a link between its Covid-19 vaccine and the cases of a rare heart inflammation condition reported in young people who have received the shot, the company said Friday.The Massachusetts-based biotech company said it made the conclusion after “carefully reviewing the available safety data to date for Moderna COVID-19 Vaccine for cases of myocarditis and/or pericarditis.””The company will continue to closely monitor these reports and is actively working with public health and regulatory authorities to further assess this issue,” it said in a statement.A spokesperson for the Centers for Disease Control and Prevention did not immediately respond to a request for comment.A CDC advisory panel is holding an emergency meeting on June 18 to discuss rare, but higher-than-expected, reports of heart inflammation in 16- to 24-year-olds after receiving their second dose of Pfizer’s or Moderna’s Covid-19 vaccines.A CDC official said Thursday that the agency has received reports of 275 cases of myocarditis or pericarditis in that age group as of May 31, higher than the 10 to 102 cases that would be expected. The condition involves inflammation of the heart muscle or the lining around it.”We clearly have an imbalance there,” Dr. Tom Shimabukuro of the CDC’s Immunization Safety Office said Thursday at a meeting of the FDA’s Vaccines and Related Biological Products Advisory Committee. The group met to discuss safety issues surrounding the use of Covid-19 vaccines in children as young as 6 months old.The CDC’s vaccine safety group said last month that it was looking into heart inflammation conditions in a “relatively few” people who received Covid vaccinations. Officials say they still don’t know whether the condition is truly related to the vaccines.CNBC Health & Science Read CNBC’s latest global coverage of the Covid pandemic:Suicide attempts among adolescent girls surge by more than 50% during pandemic, CDC says Royal Caribbean says no change to sailing plans despite Covid cases on Celebrity ship   The FDA reportedly forces J&J to scrap about 60 million doses of its Covid vaccine  CDC says heart inflammation in 16- to 24-year-olds was higher than expected after second Covid shotSome of the reported cases may be something else other than myocarditis or pericarditis upon further investigation, Shimabukuro said Thursday.Men make up the majority of the reported cases and most of the cases appear mild, officials say. Of the 270 people who have developed the condition and have been discharged, 81% of them have fully recovered, according to a CDC presentation at the meeting Thursday. As of May 31, 15 people were hospitalized, with three in intensive care, the agency said.Though no link has been found between the vaccines and the condition, health experts say finding rare side effects once a vaccine or drug is administered to the general population is common. The U.S. has distributed millions of Covid vaccines, which have been helpful in driving down new cases and hospitalizations across the country. More

In this articleJNJA detail of Janssen Johnson & Johnson COVID-19 vaccine that is not currently being given out because it has been put on hold.Allen J. Schaben | Los Angeles Times | Getty ImagesFederal regulators are forcing Johnson & Johnson to scrap about 60 million doses of Covid-19 vaccine produced at a troubled Baltimore plant run by Emergent BioSolutions due to possible contamination, The New York Times reported Friday, citing people familiar with the matter.The plant was shuttered in April after an inspection revealed several violations, including possible contamination of J&J’s vaccines with a key ingredient from AstraZeneca’s Covid vaccine. About 170 million doses of both vaccines were in question after the inspection, the Times reported.The FDA confirmed that several batches weren’t “suitable for use,” without confirming the exact number of doses that were discarded. The agency said it was clearing two batches of vaccine materials manufactured at the plant for use, according to an emailed statement. The Associated Press reported that the two batches would account for 10 million doses.CNBC Health & Science Read CNBC’s latest global coverage of the Covid pandemic:Suicide attempts among adolescent girls surge by more than 50% during pandemic, CDC says Royal Caribbean says no change to sailing plans despite Covid cases on Celebrity ship   The FDA reportedly forces J&J to scrap about 60 million doses of its Covid vaccine  CDC says heart inflammation in 16- to 24-year-olds was higher than expected after second Covid shot”The FDA has determined several other batches are not suitable for use, but additional batches are still under review and the agency will keep the public informed as those reviews are completed,” the agency said in the emailed statement.  The U.S. currently has more than enough doses of two other vaccines that were approved from Pfizer and Moderna to finish vaccinating the American population.The roughly 10 million doses of the Johnson & Johnson vaccine will still be distributed in the U.S. and donated to other countries. The salvaged doses will come with a warning stating federal regulators could not guarantee that the manufacturing plant’s operator, Emergent BioSolutions, followed good manufacturing practices, the Times reported.”Before making this decision, the FDA conducted a thorough review of facility records and the results of quality testing performed by the manufacturer,” the agency said. “While the FDA is not yet ready to include the Emergent BioSolutions plant in the Janssen EUA as an authorized manufacturing facility, the agency continues to work through issues there with Janssen and Emergent BioSolutions management.””Today’s decisions represent progress in our continued efforts to make a difference in this pandemic on a global scale, and we appreciate the close collaboration with the FDA and global health authorities,” Johnson & Johnson’s executive vice president Kathy Wengel said in a statement Friday afternoon.The Biden administration planned to donate more doses of the shots, but those plans were stifled by the investigation into the Emergent facility.The World Health Organization said 11 billion vaccine doses are needed around the globe to help stop the pandemic from worsening. The U.S. is buying 500 million doses of Pfizer’s two-shot vaccine to distribute to countries in need, President Joe Biden is expected to announce at this weekend’s G-7 meetings.– CNBC’s Berkeley Lovelace Jr. contributed to this article. More

Icicles hang off the State Highway 195 sign on Feb. 18, 2021 in Killeen, Texas.Joe Raedle | Getty ImagesThe threat of climate change is shifting some older Americans’ retirement plans.Extreme weather such as hurricanes, flooding, freezing temperatures and wildfires has prompted some to rethink where they will spend their golden years.”Clients are seeing it for themselves and starting to adjust plans as a result,” said John McGlothlin III, a certified financial planner with Southwest Retirement Consultants in Austin, Texas.More from Personal Finance:Congress wants to make more changes to the U.S. retirement systemWhat to know before making the leap into early retirementTips on whether you should eliminate that mortgage in retirementOne client, planning to retire in Galveston, Texas, wasn’t prepared for the rising expense of flood insurance, he said. While the average cost for Texas flood coverage is $700 per year, premiums may be higher in some areas. Another client in Austin suffered from the region’s deep freeze and power outages in February. When pipes froze and their condo flooded, they started to question their long-term plans, McGlothlin said. With the possibility of another cold snap, more home damage or future displacement, they are reconsidering where they are living. But there’s a problem: The unit may not fetch the same price post-flood, he said.Declining home values may create another issue for retirees, however.With less home equity, retirees may have limited flexibility to tap their property to pay for long-term care expenses or other health-care costs, said McGlothlin.  “We just have to be very thoughtful about what the environment is going to do to real estate and what that means for long-term retirement plans,” he said. Not a concern for all retireesWhile some retirees worry about the risks of hurricanes, deep freezes or wildfires, others are less concerned about climate change.”From what I’ve seen over the last five to 10 years, extreme weather has not had a noticeable impact on retirement plans,” said Matt Stephens, a Wilmington, North Carolina-based CFP and founder of AdvicePoint.Although Wilmington’s coastal area has experienced hurricanes and flooding, it’s still a popular location for retirees, particularly along the water, he said.”People are clamoring for those properties,” said Stephens.  When choosing a place to retire, many clients want to be near family, scenic areas, mild weather and a reliable hospital system, he added. Added insurance costsWhether retirees stay or go, they may face rising homeowner’s insurance costs in some areas. In North Carolina, those living east of Interstate 95 have to buy separate coverage for wind and hail on top of their homeowner’s insurance policy, Stephens said.The average cost for wind and hail insurance in North Carolina may be almost $1,700, The Zebra reports. “The wind and hail insurance has increased steadily throughout the years,” he said.Plus, those living near the water may need flood insurance, spending an average of $739 more per year in North Carolina, according to ValuePenguin.And it may be tough to find coverage for some types of natural disasters. For example, those living in spots prone to wildfires may struggle to find affordable insurance.”If you have a home in the Rockies, you’re either going to have a really hard time finding insurance, or you’re going to pay a lot for it,” said McGlothlin. More

In this articleRCLIn an aerial view, Explorer of the Seas (front), a Royal Caribbean cruise ship, along with other cruise ships are docked at Port Miami as the cruise line industry waits to begin operations again on May 26, 2021Joe Raedle | Getty Images News | Getty ImagesRoyal Caribbean Cruises said Friday it isn’t changing its sailing plans this summer despite reporting two positive Covid-19 cases aboard its Celebrity Millennium cruise ship on Thursday.The two guests who tested positive during end-of-cruise testing were asymptomatic and were placed in isolation. On Friday, Royal Caribbean announced that all those who were in close contact with the two guests tested negative for the virus.Celebrity will be paying for the two guests to be taken home on a private plane, according to a representative for Royal Caribbean Group.The discovery of the cases is an early test of whether the cruise operator’s safety protocols are effective in detecting the virus aboard the ship.The Celebrity Millennium, which departed St. Maarten on Saturday, was one of the first cruises in North America to start sailing again after being docked for over a year. The company’s first sailing out of a port in the U.S. will be the Celebrity Edge, which departs June 26 out of Fort Lauderdale, Florida.The Celebrity Millennium has a fully vaccinated crew, and all guests over the age of 16 are required to show proof of vaccination and a negative Covid-19 test taken within 72 hours before sailing. There was also routine testing throughout the weeklong cruise at every port.The ship will dock at a port in St. Maarten on Saturday.The company’s stock was down less than 1% on Friday. It has risen 20% this year, giving it a market cap of nearly $23 billion.A passenger aboard the ship told CNBC that the mood aboard the ship had not changed and normal activities have continued.The cruise industry has been among the last sectors to resume operations since the pandemic. There were several high-profile outbreaks aboard cruise ships last year.The Centers for Disease Control and Prevention has allowed the ships to resume sailing this year, after placing very strict safety protocols and requirements to prevent the spread of the virus.Norwegian Cruise Line declined to comment on whether it will be making any changes to its summer sailing plan. Carnival Cruises did not respond to a request for comment.Cruise line stocks are slowly rebounding this year after big players in the industry suffered huge losses during the pandemic. Shares of Norwegian Cruise line are down less than 1%. The company’s stock has risen more than 27% this year putting its market cap at just under $12 billion.Carnival Cruises’ stock is up less than 1%. Its stock has risen nearly 39% this year, boosting its market cap to just under $34 billion.—CNBC’s Seema Mody contributed to this report. More

In this April 23, 2015 file photo, Jho Low, Director of the Jynwel Foundation, poses at the launch of the Global Daily website in Washington, D.C.Stuart Ramson | Invision for the United Nations FoundationA federal grand jury has hit the fugitive Malaysia financier Jho Low and Fugees rapper Prakazrel “Pras” Michel with new criminal charges, accusing them of running a back-channel campaign to get the Trump administration to drop an investigation of Low and the 1MDB investment company and to have a Chinese dissident returned to China.The new charges against Low, 39, and the 48-year-old Michel come six months after former President Donald Trump pardoned former top Republican fundraiser Elliot Broidy in connection with his guilty plea in October for his role in the illegal lobbying effort on Low’s behalf.CNBC has reached out to Broidy’s lawyer to ask whether Broidy testified before the grand jury that indicted Low and Michel.Because of his pardon, Broidy would be unable to invoke his Fifth Amendment right against self-incrimination if called to testify at a grand jury investigating his activities related to Low and Michel.Broidy, who is a Los Angeles-based businessman, was paid $9 million for his efforts on their behalf, with “the expectation of tens of millions more in success fees,” federal authorities have said.Low and Michel were charged two years ago in federal court in Washington, D.C., with allegedly illegally funneling millions of dollars of Low’s money to support the 2012 presidential campaign of then-President Barack Obama.Pras Michel of the Hip hop group the Fugees performs on August 1, 1996 in New York City, New York.Al Pereira | Michael Ochs Archives | Getty ImagesThe Justice Department for years has investigated and filed criminal cases and civil forfeiture actions related to the embezzlement of billions of dollars from 1Malaysia Development Berhad, or 1MDB, a strategic investment and development company that is wholly owned by the government of Malaysia.Low, who is believed to be in China, is allegedly at the center of that scheme to loot 1MBD. He was charged in 2018 in Brooklyn federal court with conspiring to launder billions of dollars embezzled from the company and with paying bribes to officials in Malaysia and Abu Dhabi.Low and his associates allegedly used some swindled cash to buy real estate, yachts and jets, as well as to finance Martin Scorsese’s “The Wolf of Wall Street,” a film about a financial fraudster.CNBC PoliticsRead more of CNBC’s politics coverage:Bipartisan Senate group reaches infrastructure deal without tax hikes — but leaders need to sign offBiden and G-7 leaders will endorse a global minimum corporate tax of at least 15%Trump spokesman Jason Miller leaving his role to join tech start-upThe indictment issued Thursday by a grand jury in Washington accuses Low and Michel of conspiring with Broidy, a woman named Nickie Lum Davis and others “to engage in undisclosed lobbying campaigns at the direction of Low and the Vice Minister of Public Security for the People’s Republic of China, respectively,” according to the Justice Department.The goals of those campaigns were “both to have the 1MDB embezzlement investigation and forfeiture proceedings involving Low and others dropped and to have a Chinese dissident sent back to China.”That dissident is understood to be billionaire Guo Wengui, also known as Miles Kwok and Miles Guo.The new indictment also accuses Michel and Low of conspiring to commit money laundering related to the foreign influence campaigns, the Justice Department said. Michel is additionally charged with witness tampering and conspiracy to make false statements to banks.Davis pleaded guilty in August to violating the foreign lobbying act as part of the Justice Department’s probe involving 1MDB. Also in August, Trump’s former senior advisor Steve Bannon was arrested on Guo’s yacht, off the coast of Connecticut, on federal criminal charges accusing him and others of defrauding thousands of donors through a crowdfunding campaign to privately build sections of a wall along the U.S.-Mexico border.Trump pardoned Bannon on his last night in office in January, the same time he pardoned Broidy.The investment bank Goldman Sachs last year entered into a deferred prosecution agreement with the Justice Department related to the conspiracy in which the bank and its Malaysian unit violated U.S. bribery laws by paying Malaysian and Abu Dhabi officials to get business from 1MDB.Goldman, which received around $600 million in fees for bond deals that funded the bank, agreed to pay more than $2.9 billion as part of that deferred prosecution agreement. More