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    Colonial Pipeline restarts after hack, but supply chain won't return to normal for a few days

    In this articleCBCPQFuel tanks are seen at Colonial Pipeline Baltimore Delivery in Baltimore, Maryland on May 10, 2021.Jim Watson | AFP | Getty ImagesColonial Pipeline restarted operations Wednesday at approximately 5 p.m. ET after a ransomware attack last week forced the entire system offline on Friday evening. The company did warn, however, that its pipeline would not be fully functional immediately.”Following this restart it will take several days for the product delivery supply chain to return to normal,” Colonial said in a statement. “Some markets served by Colonial Pipeline may experience, or continue to experience, intermittent service interruptions during the start-up period. Colonial will move as much gasoline, diesel, and jet fuel as is safely possible and will continue to do so until markets return to normal,” the company added.Shortly before Colonial’s restart announcement, President Joe Biden said to expect “good news” in the next 24 hours. He added that the White House had been in “very close” contact with the company.Most of the pipeline, which is the largest fuel transmission line from the Gulf Coast to the Northeast, has been offline since Friday. The company shut down its systems as a proactive measure after it fell victim to a ransomware attack by a criminal group known as DarkSide.The pipeline is a critical part of U.S. petroleum infrastructure, transporting around 2.5 million barrels per day of gasoline, diesel fuel, heating oil and jet fuel. The pipeline stretches 5,500 miles and carries nearly half of the East Coast’s fuel supply. The system also provides jet fuel for airports, including in Atlanta and Baltimore.Given the importance of the pipeline, there was swift action from Washington, in what officials called a “comprehensive federal response.”The Department of Energy led the federal government response in coordination with the FBI, Department of Homeland Security and Department of Defense. Energy Secretary Jennifer Granholm previously said that the company would make a restart decision by the end of the day on Wednesday.”So far there is no evidence from our intelligence people that Russia is involved although there is evidence that the actor’s ransomware is in Russia. They have some responsibility to deal with this,” Biden said from the White House on Monday.Officials warned that gas supplies remained at reasonable levels, but panicked consumers headed to the pump as the pipeline shutdown stretched on for days.As of Wednesday afternoon 68% of gas stations in North Carolina were out of gas, according to data from GasBuddy. In South Carolina and Georgia 45% of stations were dry, while 49% of stations across Virginia reported outages.Gas prices have also ticked higher, with the national average for a gallon topping $3 on Wednesday for the first time since 2014.Become a smarter investor with CNBC Pro. Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. Sign up to start a free trial today More

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    New York jet fuel gets pricier due to Colonial Pipeline outage

    American Airlines planes at LaGuardia AirportLeslie Josephs | CNBCJet fuel prices have surged nationwide, especially in the New York City area, due to the Colonial Pipeline cyberattack outage, which ended Wednesday afternoon. Colonial Pipeline said it resumed operations around 5 p.m. but that the system would not be fully functional immediately.The premium on jet fuel prices in New York Harbor was nearly $1.87 a gallon on Tuesday, close to 9 cents more than the U.S. Gulf Coast price, the largest premium since February 2020 and almost 40% more than a week ago, according to S&P Global Platts.Several airlines, including Delta Air Lines, United Airlines and JetBlue Airways, said their operations haven’t been affected. Two airlines, however, have made adjustments. American Airlines added temporary refueling stops this week until Thursday to two long-haul flights out of Charlotte, North Carolina. Southwest Airlines is flying planes with extra fuel into Nashville International Airport and others, a measure known as tankering that carriers turn to during times of supply shortages, such as after hurricanes.Airlines and airports this week said they were looking at alternative methods of obtaining fuel beyond the Colonial Pipeline, the country’s largest refined fuel products pipeline. The company shut down all pipeline operations after it was hit by a cybersecurity attack involving ransomware on Friday.”Since notification of the pipeline’s temporary shutdown, BWI Thurgood Marshall Airport has worked with airline partners and fueling companies to put alternate fueling measures in place,” a spokesman for the Baltimore airport told CNBC. “We continue to monitor the situation, and will adjust plans as needed until the pipeline is back online.”The Port Authority of New York and New Jersey, which oversees the major airports serving the New York City area, said it is “not experiencing any immediate impacts from the Colonial Pipeline shutdown.””We are continuing to closely monitor the situation and remain in regular contact with gasoline and diesel fuel suppliers for the Port Authority vehicle fleet and with the airlines and other airport stakeholders about jet fuel supply,” a spokeswoman said.Jet fuel for the Gulf Coast, an industry benchmark, on Tuesday hit $1.78 a gallon, the highest since January 2020. Prices have climbed by 33% this year as more customers return to air travel. The higher prices for fuel, generally airlines’ largest cost after labor, comes just as more customers are expected to fly during the peak summer travel months. More

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    Mix and match Covid vaccine study finds increased risk of mild to moderate symptoms

    A health worker injects a dose of the AstraZeneca-Oxford Covid-19 vaccine at a temporary vaccine centre set up at City Hall in Hull, northeast England on May 7, 2021.OLI SCARFF | AFP | Getty ImagesLONDON — A major U.K. trial assessing the benefits of mixing and matching Covid-19 vaccines has found that volunteers receiving alternating doses were more likely to develop mild to moderate symptoms.The so-called “Com-COV” study, hailed as a “world-first” by the U.K. government and led by the University of Oxford, is examining the immune responses of trial participants given a dose of the Oxford-AstraZeneca vaccine followed by the Pfizer-BioNTech shot — and vice versa.It reported on Wednesday that preliminary data shows participants receiving a mixed schedule of Covid-19 vaccines incurred more frequent reactions than those on standard non-mixed schedules.Some of the mild to moderate symptoms reported among participants receiving a mixed vaccine schedule included chills, fatigue, feverishness, headache, joint pain, malaise, muscle ache and pain at the injection site.The adverse reactions were found to be short-lived and there were no other safety concerns.The data was recorded among participants aged 50 years and above. Researchers of the study said this means there is a possibility that adverse reactions to a mixed schedule of Covid-19 vaccines may be more prevalent in younger age groups.It is thought that a mixed dosing schedule could lead to an increase in work absences the day after immunization against the coronavirus.In a peer-reviewed research letter published in The Lancet international medical journal on Wednesday, researchers of the trial reported that when given at a four-week interval, both of the alternating vaccine schedules of the Oxford-AstraZeneca vaccine and the Pfizer-BioNTech vaccine induced more frequent reactions following the second dose than the standard non-mixed schedules.”Whilst this is a secondary part of what we are trying to explore through these studies, it is important that we inform people about these data, especially as these mixed-doses schedules are being considered in several countries,” Matthew Snape, associate professor in Paediatrics and Vaccinology at the University of Oxford, said in a statement.”The results from this study suggest that mixed dose schedules could result in an increase in work absences the day after immunisation, and this is important to consider when planning immunisation of health care workers,” he added.’Com-COV2’Snape, who is also chief investigator on the trial, said it was important to underline the fact that there were no safety concerns, adding it remained unclear whether the immune response will be affected.”We hope to report these data in the coming months. In the meantime, we have adapted the ongoing study to assess whether early and regular use of paracetamol reduces the frequency of these reactions,” Snape said.Vials of the Pfizer-BioNTech Covid-19 vaccine at the Sun City Anthem Community Center vaccination site in Henderson, Nevada, U.S., on Thursday, Feb. 11, 2021.Roger Kisby | Bloomberg | Getty ImagesThe Com-COV study is backed by £7 million ($9.9 million) of U.K. government funding by the Vaccines Taskforce and run by the National Immunisation Schedule Evaluation Consortium.The study aims to evaluate the feasibility of mixing and matching Covid vaccines to help policymakers understand whether this could be a viable route to increase the flexibility of vaccination campaigns.The trial initially recruited 830 volunteers aged 50 and above. In April, researchers expanded the program to include the Moderna and Novavax Covid-19 vaccines in a new study, known as “Com-COV2.” This added a further 1,050 volunteers to the program. More

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    Amid rising inflation, Wendy's CEO says restaurant is seeing labor costs pressure

    In this articleWENRising chicken prices and other commodity costs won’t weigh on Wendy’s operations, but the fast-food chain is feeling the pinch of higher wages, CEO Todd Penegor said on CNBC Wednesday.”From a commodity outlook perspective, because we’re largely locked in, we’re guiding flat to commodities this year, so we’re in a good spot there,” he told Jim Cramer in a “Mad Money” interview, adding the company is seeing a “little bit of pressure on labor — access to labor, cost to labor.”The comments come as the latest inflation data showed consumer prices rose last month at the fastest rate in more than a decade. The Labor Department reported earlier Wednesday that the consumer price index, a measure of inflation, shot up 4.2% from a year ago, higher than economists projected.Wendy’s also reported first-quarter earnings before the market opened. The company said it generated $460 million of revenue and earned 20 cents per share, beating Wall Street’s estimate of $445 million and 20 cents, according to FactSet.In the quarter that ended April 4, global same-store sales rose 13% from a year ago.Shares of Wendy’s declined 1.40% to $22.48 as part of a broader market sell-off.Questions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer’s world? Hit him up! Mad Money Twitter – Jim Cramer Twitter – Facebook – InstagramQuestions, comments, suggestions for the “Mad Money” website? [email protected] More

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    Photos show the impact at the pumps from the Colonial Pipeline hack

    Tanker trucks can be seen in an adjacent lot next to the entrance of the Colonial Pipeline tank farm in Charlotte, North Carolina on May 12, 2021.Logan Cyrus | AFP | Getty ImagesParts of the Southeast suffered gas shortages and long lines at the pump after the largest fuel pipeline in the U.S. was crippled by a ransomware attack.Colonial Pipeline — which runs the pipeline supplying fuel to nearly half of the East Coast — said Friday it fell prey to a ransomware attack, forcing it to shut down services.The company said Monday it aims to restore service by the end of the week. However, Colonial added the situation “remains fluid and continues to evolve.”Take a look below at how the situation is playing out in Virginia, Georgia and other states.Cars line up at a QuikTrip in Atlanta, GeorgiaCars line up at a QuickTrip on May 11, 2021 in Atlanta, Georgia. There is an expectation of a gasoline shortage in Georgia after Georgia-based gas company Colonial Pipeline reported a ransomware attack on May 7.Megan Varner | Getty ImagesA woman fills gas cans at a Speedway station in Benson, North CarolinaA woman fills gas cans at a Speedway gas station on May 12, 2021 in Benson, North Carolina. Most stations in the area along I-95 are without fuel following the Colonial Pipeline hack.Sean Rayford | Getty ImagesVehicles line up to get gas at a Sunoco station in Sumter, South CarolinaVehicles line up to get fuel at a Sunoco gas station in Sumter, South Carolina, U.S., on Tuesday, May 11, 2021.Micah Green | Bloomberg | Getty ImagesLines of cars at a Costco gas station in Charlotte, North CarolinaAttendants direct cars as they line up to fill their gas tanks at a COSTCO on Tyvola Road in Charlotte, North Carolina on May 11, 2021.Logan Cyrus | AFP | Getty ImagesA man fills up gas cans at a gas station in Tampa, FloridaDax Valenti fills up gas tanks at a gas station after a cyberattack crippled the biggest fuel pipeline in the country, run by Colonial Pipeline, in Tampa, Florida, May 12, 2021.Octavio Jones | ReutersAn ‘Out Of Service’ bag covers a gas pump at a Circle K near uptown Charlotte, North CarolinaAn “Out Of Service” bag covers a gas pump as cars continue line up for the chance to fill their gas tanks at a Circle K near uptown Charlotte, North Carolina on May 11, 2021 following a ransomware attack that shut down the Colonial Pipeline.Logan Cyrus | AFP | Getty ImagesA man fills a vehicle with fuel at a gas station in Sumter, South CarolinaA man fills a with vehicle with fuel at a Sunoco gas station in Sumter, South Carolina, on Tuesday, May 11, 2021.Micah Green | Bloomberg | Getty ImagesElizabeth Dragomir had to stand with a gas can in a line of vehicles waiting for gas at a Costco in Norfolk, VirginiaElizabeth Dragomir had to stand in a line of vehicles waiting for gas at Costco after a cyberattack crippled the biggest fuel pipeline in the country, run by Colonial Pipeline. Dragomir’s car ran out of gas in the parking lot, in Norfolk, Virginia, May 11, 2021.Jay Paul | ReutersA motorist looking for gas drives past closed pumps at an Exxon gas station in Woodbridge, VirginiaA motorist looking for gas drives past closed pumps at an Exxon gas station in Woodbridge, Virginia, on May 12, 2021.Andrew Cabellero-Reynolds | AFP | Getty Images More

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    Stocks making the biggest moves after the bell: Bumble, Sonos, Vroom & more

    In this articleVRMBMBLDisplays outside the Nasdaq MarketSite are pictured as dating app operator Bumble Inc. (BMBL) made its debut on the Nasdaq stock exchange during the company’s IPO in New York City, New York, U.S., February 11, 2021.Mike Segar | ReutersCheck out the companies making headlines after the bell on Wednesday:Bumble — Shares of Bumble fell 0.5% after the bell despite the dating app developer swinging to a profit in the first quarter. Sales more than doubled, due to an uptick in paying users. It booked revenues of $323.4 million compared to a loss of $55.8 million one year ago.Jack in the Box — Jack in the Box saw its stock fall nearly 3% in extended trading after its fiscal second-quarter results. The company said it sees high single-digit system same-store sales growth for its fiscal year, and predicts commodity cost inflation of about 3%. It sees labor cost inflation of 5% to 6%.Vroom — Vroom shares rallied about 12% in extended trading after it reported a first-quarter loss of 57 cents per share on revenues of $591.1 million. Analysts polled by Refinitiv had expected a loss per share of 63 cents on revenues of $518.2 million. The company said e-commerce unit sales nearly doubled.Sonos — The stock of the premium speaker maker soared 17% in after-hours trading following its report that showed fiscal second-quarter revenues of $332.9 million compared to the $248.4 million expected by analysts polled by Refinitiv. Sonos said that, based on its stronger second-quarter performance and continued demand for its products, it would raise its outlook for fiscal 2021 again.Become a smarter investor with CNBC Pro. Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. Sign up to start a free trial today More

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    U.S. airlines cancel Tel Aviv flights after violence in Israel worsens

    A medic collects a swab sample from a traveller at a rapid COVID-19 testing booth in Israel’s Ben Gurion Airport, near Tel Aviv, on April 6, 2021.Jack Guez | AFP | Getty ImagesU.S. airlines said Wednesday that they have paused flights to Tel Aviv after a deadly conflict in Israel intensified in the worst outbreak of violence there since 2014.American Airlines said it canceled its service between New York’s John F. Kennedy International Airport and Tel Aviv scheduled for Wednesday and Thursday, while United Airlines called off service to Tel Aviv from Chicago and from Newark, New Jersey, on Tuesday and from San Francisco and Newark to Tel Aviv on Wednesday. Delta Air Lines said it canceled JFK-Tel Aviv service on Wednesday.Airlines have an average of seven flights a day scheduled to Tel Aviv from the U.S. this month, according to aviation data firm Cirium.Israeli airline El Al said Wednesday that it planned to continue operating flights as scheduled but said that passengers can change their flights without paying a fee or cancel in exchange for a voucher.Israeli authorities had briefly halted flights at Tel Aviv’s Ben Gurion Airport earlier this week after Hamas fired rockets toward Tel Aviv, Reuters reported.”Additionally, In order to allow our customers to keep in touch with their families during the flight, EL AL will allow free use of the WhatsApp service on flights that have WiFi,” the carrier said. More

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    Some employees say no amount of precautions will make the workplace feel safe, survey says

    A sign details entry restrictions at a JLL office in the Aon Center in Chicago, Illinois, U.S., on Thursday, June 24, 2020.Christopher Dilts | Bloomberg | Getty ImagesOne in 10 employed consumers in the U.S. say that nothing would make them feel comfortable working in an environment around other people, according to a new survey.The findings point to lingering anxieties about the Covid-19 pandemic and challenges that companies may face as they try to convince employees to return to the workplace and look to hire more workers. The National Retail Federation and Prosper Insights & Analytics polled nearly 8,000 people across industries this month.Other consumers surveyed, however, shared precautions that could help put them at ease. The largest group — 48% of respondents — said that they needed to be vaccinated to feel comfortable returning to work and interacting with others. That was followed by 35% who said their co-workers would need to be vaccinated, 34% who said they would need social distancing at work and 33% who said their workplace would have to have mandatory mask-wearing. Nearly a third of those polled said they would need wide availability of the vaccine to the public and a requirement for sick employees to stay home.Even those who said they were vaccinated or plan to get vaccinated said in the survey that they want their company to take additional measures, such as providing enough room to spread out from co-workers.More Americans have gotten vaccinated and fewer have gotten sick from Covid in recent weeks. More than 46% of the U.S. population has received one or more shots and 35% is fully vaccinated as of Tuesday, according to the Centers for Disease Control and Prevention. The average daily rate of Covid cases fell to about 38,000 on Tuesday, according to data compiled by Johns Hopkins University — and on Monday it dropped below 40,000 for the first time since September.Deaths have declined steeply in the U.S., too. At its winter peak, about 3,000 deaths were recorded daily. The latest seven-day average of daily Covid deaths in the U.S. is 608, according to Johns Hopkins data. The country hit another notable milestone on Monday: The Food and Drug Administration approved Pfizer and BioNTech’s request to allow the companies’ Covid-19 vaccine to be given to kids ages 12 to 15 on an emergency use basis. That clears the way for many kids to get vaccinated ahead of the start of school in the fall.David French, senior vice president of government relations of the NRF, said the trade group has fielded many questions from its retail and restaurant members about how best to bring people back and at what pace. He said its 16,000 members have also spoken about the struggle to find job candidates to fill openings as they prepare for customers to return to stores, restaurants, vacation spots and more.”There are really two different return-to-work questions,” he said. “There’s the return-to-work question about ‘How do we get people who are not working back into jobs?’ and then ‘How do we get people who are working, but working in a remote location, back into the office?'”He said the survey focused on answers to the latter question — but also sheds light on some pandemic-related factors that may be causing some unemployed Americans on opt out on rejoining the workforce. Economists were recently surprise by a jump in the unemployment rate to 6.1% in April. They had been expecting to see a surge in hiring.However, he said, it does not address another dynamic that the NRF believes is playing a role, too: A $300 weekly supplement to unemployment benefits.The April jobs report has sparked debate about why some people have remained unemployed, even as the economy reopens, the vaccination rate increases and more employers look for workers. Some Republicans and business groups, including the U.S. Chamber of Commerce, have criticized the federal boost in unemployment payments and said it has fueled a labor shortage as people choose to stay on the sidelines. Others have pointed to different reasons that people are opting out, from a lack of child care and remote school to fears of getting Covid-19 or giving it to a family member.The tight labor market has inspired some restaurants to boost their pay or add perks. Chipotle Mexican Grill said Monday that it will raise restaurant workers’ pay to an average of $15 an hour by the end of June. It is also dangling referral bonuses of hundreds of dollars for employees who help it find new managers and team members. The chain is looking to hire 20,000 new workers across the country.Convenience store chain Sheetz is also increasing its wages, after struggling to find workers. It will permanently raise wages by $2 an hour. It will pay an additional $1 an hour as a “summer stimulus” from May 21 to Sept. 23. That will amount to a new minimum wage of $13.50 for store employees and $16.50 for store supervisors. The average wage across all store employees will be $15.50 for store team members and $18.50 for supervisors.As the spring and summer travel season heats up, the company wants to hire more than 2,000 employees to check out customers, keep snacks stocked and coffee hot as more people hit the road again and more frequently stop by to fill up their cars with gas. The retailer has 621 stores throughout Pennsylvania, Maryland, Virginia, Ohio, West Virginia and North Carolina.Travis Sheetz, chief operating officer of the privately held company, said Sheetz typically adds staff this time of year. This spring, however, he said the company received just a small stack of job applications. Few people showed up to its hiring day in late March. Those who did tended to have narrower availability of hours when they could work.He said that shallow pool of candidates stems from “a number of things colliding.” Among them, he said, people feel nervous about Covid. They’re coping with remote school and child-care challenges. And they’re receiving supplemental income from stimulus and unemployment.That juggle has led some to ask themselves “‘How can I take this on right now?'” he said.”We have a combination of expecting business to peak even greater this summer because people are just anxious to get out and at the same time, we’re operating in probably the toughest labor environment in the last 20 years,” he said.With the pandemic, he said employers will have to make a stronger case to job candidates and make sure employees feel both safe and valued — particularly for front-line jobs that require interactions with strangers.For example, he said, Sheetz temporarily increased pay for its workers during the height of the pandemic. It has added a parental leave policy with 12 weeks of paid time off for new moms and two weeks of paid time off for their partners. And it’s keeping safety measures like having wellness checks and quarantine pay for employees.Yet even behind a plexiglass screen or a face mask, he said a job in retail is one that stands apart.”The stories that you hear across the counter and from people and you getting close to your customers and your communities, that’s just very difficult to get sitting in an office job or in a warehouse,” he said. “You really can’t replace that.” More