Raphael Stevens

Health and Human Services Secretary Robert F. Kennedy Jr. doubled down on false claims about vaccines during his Senate testimony, as senators grilled him on his sweeping changes to immunization policy and federal health agencies.
Kennedy said he supports a statement made by a newly appointed member of a key government vaccine panel that mRNA vaccines pose a dangerous risk to people.
Kennedy’s comments come after he canceled funding for mRNA shot development and made other changes to U.S. vaccine policy, including gutting the CDC vaccine panel.

U.S. Health and Human Services Secretary Robert F. Kennedy Jr., testifies before a Senate Finance Committee hearing on President Donald Trump’s 2026 health care agenda, on Capitol Hill in Washington, D.C., U.S., September 4, 2025.
Jonathan Ernst | Reuters

Health and Human Services Secretary Robert F. Kennedy Jr. doubled down on false claims about vaccines and claimed he isn’t limiting access to Covid shots during his Senate testimony on Thursday, as senators grilled him on his sweeping changes to immunization policy and federal health agencies.
Kennedy said he supports a statement made by a newly appointed member of a key government vaccine panel that mRNA vaccines pose a dangerous risk to people. Numerous studies have demonstrated that shots using mRNA technology, including Covid vaccines from Pfizer and Moderna, are safe and effective, and serious side effects have happened in extremely rare cases.

Sen. Michael Bennet, D-Colo., noted that the committee member, Dr. Retsef Levi, has said that evidence is mounting that mRNA vaccines cause “serious harm, including death, especially among young people,” apparently referring to a post pinned on Levi’s X account. Kennedy appointed Levi to the Advisory Committee on Immunization Practices, which advises the Centers for Disease Control and Prevention on vaccine recommendations and insurance coverage.
Kennedy said he wasn’t aware of Levi’s comments, but added, “I agree with it.”
He also claimed that anyone could get a Covid booster shot, while also acknowledging that access “depends on the state” and that the government no longer recommends the vaccines for healthy people.
The Food and Drug Administration approved a fresh round of Covid shots with new limits, only clearing them for adults aged 65 and older and people with a medical condition that puts them at risk of a severe illness. The CDC and its vaccine panel will decide who to recommend the shots to later this month.
“I’m not taking them away from people,” Kennedy said, referring to the vaccines.

But Sen. Elizabeth Warren, D-Mass., argued that not everyone can walk into a pharmacy and get a Covid shot now.
The FDA’s new limits have complicated Covid shot access in the U.S., which now depends on a patient’s age and risk level, laws and policies in their state, insurance coverage, and health-care provider. Pending CDC guidance, some pharmacies have added prescription requirements for Covid vaccines in certain states.
“You clearly are taking away vaccines,” she said after a prolonged shouting match with Kennedy.

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Kennedy’s comments before the Senate Finance Committee come after he repeatedly promised the panel in January that he would do nothing as HHS secretary that makes it more difficult or discourages people from taking vaccines. Since then, he has canceled funding for mRNA shot development and made other vaccine policy changes that could limit access to immunizations, including gutting the CDC vaccine panel and dropping Covid shot recommendations for certain groups.
His comments also follow a leadership shake-up at the Centers for Disease Control and Prevention. The White House last week fired CDC Director Susan Monarez, and four senior agency officials resigned shortly after, with some of them citing the politicization of the agency and a threat to public health. In an opinion piece on Thursday, Monarez accused Kennedy of “a deliberate effort to weaken America’s public-health system and vaccine protections.”
White House Press Secretary Karoline Leavitt posted on X in support of Kennedy on Thursday, writing that he “is taking flak because he’s over the target” and saying Democrats were attacking the Trump administration’s “commonsense effort.”
Kennedy touted skepticism around Covid vaccines, despite evidence of their safety and effectiveness. 
“We were told again and again the vaccines would prevent transmission, they prevent infection. It wasn’t true. They knew it from the start,” Kennedy said.  
He also said he does not know how many people died of Covid and whether the vaccines prevented deaths from the virus.
“I would like to see the data and talk about the data,” Kennedy said.
But data is readily available from dozens of studies. One paper in August estimates that Covid vaccines saved more than 2 million lives, mostly among older adults, worldwide between 2020 and October 2024. 
The CDC website also says that Covid vaccines from the 2023 to 2024 season reduced the risk of severe illness from Covid by almost 70% in the first two months after vaccination in adults ages 18 and older, with protection gradually declining over time.
Those shots also decreased the risk of hospitalization due to Covid by around 50% in the first two months of vaccination in that same population. The Covid vaccines showed similar benefits in older adults.
Kennedy also defended his decision to fire all 17 previous members of the CDC vaccine panel, saying he didn’t politicize the committee.
“What we did is we got rid of the conflicts of interest. … We depoliticized and put great scientists on it from a very diverse group,” the HHS secretary said. “They are very, very pro-vaccine.”
But a new analysis published last month from USC researchers found that conflicts of interest on that panel had been at “historic lows for years” before Kennedy restacked it with new members, some of whom are widely known vaccine critics.
Correction: Kennedy testified before the Senate Finance Committee on Thursday. An earlier version misstated the day.

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Gap on Thursday announced it is expanding into beauty starting with its Old Navy brand, marking a strategic shift for the apparel retailer.
The stock was trading higher after a brief halt.
Gap said the move will allow it to remain competitive as it enters one of the most resilient segments of retail in recent years.

A sign hangs in a Gap Outlet store window in Chicago on May 29, 2025.
Scott Olson | Getty Images

Gap on Thursday announced it is expanding into beauty starting with its Old Navy brand, a strategic shift by the apparel company.
Its initial test will feature beauty and personal-care products at 150 Old Navy stores, as well as dedicated beauty associates and some shop-in-shops. The company plans to scale the beauty business next year.

It was unclear when the company eventually plans to put beauty products in Gap brand stores. The company said it plans to “launch brand-right expressions across the portfolio” next year.
“Gap Inc. sees a clear and meaningful opportunity to expand into this category with plans for a phased launch, starting with an initial test-and-learn expression at Old Navy later this fall,” the company said in a statement.
The stock closed roughly 5% higher Thursday.
The beauty segment has proven to be one of the most resilient in retail in recent years despite high inflation and worries about tariffs. Gap cited Euromonitor data that said the beauty and personal-care market is one of the fastest-growing categories in the U.S., projected to exceed $100 billion this year.
Even so, the success of beauty products has made it a more competitive space than ever.

The company said it will also expand its accessories business after seeing “strong customer reception” to its present products.
The new move comes as Gap has experienced a resurgence over the past two years.
“This momentum is enabling Gap Inc. to seize exciting opportunities for growth and innovation, helping ensure the company remains competitive and successful in the future,” the statement said.

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Boeing says it is hiring new workers to replace employees in its defense unit.
The roughly 3,200 workers have been on strike since Aug. 4 after turning down a contract offer from Boeing.

A worker pickets outside the Boeing Defense, Space & Security facility in Berkeley, Missouri, US, on Monday, Aug. 4, 2025.
Neeta Satam | Bloomberg | Getty Images

Boeing is hiring new workers to replace employees in its defense unit as their strike enters a second month without a new contract agreement.
“Unfortunately, the union continues to demand more of everything while also saying it has no control over what it will take to end the strike, driving the parties further apart,” said Dan Gillian, a vice president at Boeing and senior executive at the St. Louis site, where many of the defense workers are located, in an emailed statement. “As a result, we’re taking the next step in our contingency plan and hiring permanent replacement workers for manufacturing roles to ensure we’re properly staffed to keep supporting our customers.”

Boeing didn’t say how many workers it’s hiring. The workers assemble and maintain F-15 fighter jets as well as missile systems.
“Boeing is doubling down on its mismanagement by saying it plans to hire replacement workers to build military aircraft and equipment, instead of negotiating with their dedicated, generational and skilled workforce,” IAM Union International President Brian Bryant said in a statement. “Boeing – let’s get back to the negotiating table. Let’s get real about the concerns of our members and your employees.”

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The 3,200 workers, represented by International Association of Machinists and Aerospace Workers District 837, went on strike on Aug. 4 after turning down a contract offer from Boeing.
The company had offered a 20% general wage increase, a $5,000 ratification bonus and other improvements. Boeing said the increases could average about 40% taking into account other improvements. The increases would bring average IAM 837 machinist pay to more than $102,000 from $75,000, according to a note from Jefferies last month.
Boeing’s defense unit contributed about 30% of the company’s $42 billion in revenue in the first half of this year.

The strike comes less than a year after more than 32,000 unionized machinists who build commercial aircraft walked off the job after failed contract talks last year.
Their seven-week strike hobbled the company’s aircraft output and ended after they voted to approve a contract with 38% raises over four years and other improvements, marking the latest in a series of aviation labor unions winning higher pay as the industry faces a shortfall of trained workers. More

Las Vegas has seen visitation decline for seven consecutive months, with the most recent report from July showing a 12% decline year over year.
MGM Resorts CEO Bill Hornbuckle said, “Las Vegas is not done or dead.”
When asked whether the Vegas slump could be a canary in the coal mine for U.S. travel more broadly, Hornbuckle said it does seem to be a leading indicator.

Las Vegas is launching a new campaign to boost tourism after a significant summer slump.
The new campaign, “Welcome to Fabulous Las Vegas,” will focus on value for visitors and offer promotions and other incentives at the destination.

The city has seen visitation decline for seven consecutive months, with the most recent report from July showing a 12% decline year over year.
And yet, MGM Resorts CEO Bill Hornbuckle says, “Las Vegas is not done or dead.”
“To the contrary, I think there’s lessons to be learned, you know, in terms of value and value creation,” Hornbuckle told CNBC Thursday at the Bank of America Gaming and Lodging Conference.
Hornbuckle said affordability and perceptions of value have been especially top-of-mind for budget-conscious visitors. He pointed to the deals available at the Excalibur, one of MGM’s resorts on the Las Vegas Strip: $85 rooms, including resort fee; $5 tables; $5 beers. But the $12 Starbucks coffee grabs the headline.
“There is value there, and there’s always been value,” Hornbuckle said. “We let the narrative get away from us and shame on us. We need to do a better job.”

MGM and Las Vegas more broadly had posted several years of growth in visitation, room rates and profits before this year’s slowdown.
When asked whether the Vegas slump could be a canary in the coal mine for U.S. travel more broadly, Hornbuckle, who chairs the U.S. Travel Association, said it does seem to be a leading indicator. And the industry as a whole is facing some troubling obstacles.
Canadian visitation to the U.S. has plummeted some 40% this year, following comments by President Donald Trump about Canada as a potential 51st U.S. state and evolving trade policies. The Canadian dollar has also weakened, lessening the buying power of visitors crossing the border into the U.S.

Tourists take photos near the Las Vegas strip.
Robyn Beck | Afp | Getty Images

Hornbuckle also pointed to massive price hikes for a U.S. visa, from $100 to $350, where a family of four visiting for the Ryder Cup, World Cup or Olympics in 2028, for example, could pay $1,400 for visa documents alone.
“International travel in 2016 had a $50 billion U.S. surplus. Today it’s a $50 billion deficit,” Hornbuckle said.
The government’s commitment to funding marketing and promotion of U.S. travel was also slashed by 80% in the most recent spending bill, to $20 million.
“We obviously find ourselves in a world that has a fair amount of uncertainty from a macroeconomic perspective, from a socio-political perspective,” Marriott CEO Tony Capuano told investors at the BofA conference Thursday. “Marriott, and the sector more broadly, thrives in times of certainty and stability. So that creates some measure of challenge.”
Capuano said there’s been a slight uptick after Labor Day in some segments of travel. He said Marriott sees spending restrained in budget travelers and small businesses. But he described demand for luxury travel as “sturdy.”

Wyndham Hotel and Resorts CEO Geoff Ballotti laid out an optimistic view of the travel industry, noting robust demand for extended stay, driven in part by projects supporting the government’s infrastructure spending.
“You’re seeing incredible interest in investment right now,” Ballotti told CNBC. “Our new construction pipeline, 20 consecutive quarters of growth, is at an all-time high. We’re seeing groundbreakings accelerate. We’re seeing a new construction pipeline accelerate, and we’re seeing it more so here domestically than we are anywhere else in the world.” More

DraftKings CEO Jason Robins said the company is seeing record numbers heading into the kickoff to the NFL — sports betting’s biggest season.
BetMGM CEO Adam Greenblatt told CNBC that last week was the sportsbook’s best ever in terms of revenue, with pre-season volume up 30%.
The American Gaming Association estimates legal betting in the U.S. will grow by 8.5% this NFL season, to $30 billion.

DraftKings CEO Jason Robins has never been more enthusiastic about the kickoff to the NFL — sports betting’s biggest season.
It’s second only to the Super Bowl in terms of importance for acquiring customers and growing the overall betting pool, Robins told CNBC on Thursday at the Bank of America Gaming and Lodging Conference.

“The numbers just keep going up right into kickoff, and it’ll continue through Sunday,” Robins said. “We’re seeing big numbers, record numbers, and we’re really excited about what we’re going to see through the start of the season.”
The American Gaming Association estimates legal betting in the U.S. will grow by 8.5% this NFL season, to $30 billion.
DraftKings and its competitors have largely seen declines in the cost to acquire customers, even as legal sports betting opportunities continue to expand. Sports betting has proven to be resilient even amid volatility in consumer sentiment and broader concerns over discretionary spending.
“We’re seeing nothing to suggest that there’s any slowdown in the numbers for our business right now, everything is going up,” Robins said.
DraftKings beat Wall Street’s expectations for revenue and profit when it reported second-quarter results in August, surprising investors with significant growth.

BetMGM, jointly owned by MGM Resorts and Entain, is also demonstrating real momentum, raising earnings guidance twice this year.

BetMGM CEO Adam Greenblatt told CNBC on Thursday that last week was the sportsbook’s best ever in terms of revenue, with pre-season volume up 30%.
“We’re seeing no softness. We’re seeing no reduction in average bet size. We’re seeing no reduction in how many active sessions per week, per month, that players are engaging with BetMGM,” Greenblatt said when assessing the strength of the American consumer.
“I’m delighted to say that our sector seems to be behaving in a contrarian manner, ” he said.
Greenblatt said he is especially enthusiastic about the cross-selling opportunities with NFL kickoff. He said 60% of sports bettors will then wager on online casino games, or iGaming, which has higher profit margins than sports betting.
The nation’s leading sportsbooks are facing new competition — as well as potential opportunities — in the form of prediction markets’ events contracts, where odds change based on trades, like stock prices. Events contracts in the financial markets are regulated by the Commodities and Futures Trading Commission.
Front Office Sports reported in July that DraftKings was in talks to buy Railbird, an exchange that received CFTC approval to begin trading.
Robins declined to comment on the report but said he’s interested, though cautious, about entering predictions markets.
“We’re regulated in a lot of states, and some states have taken a very adversarial position, so we have to obviously be careful and engage the regulator,” Robins said, adding that DraftKings is unwilling to risk any threat to its sports betting licenses.
In August, Flutter-owned FanDuel announced a partnership on financial events contracts with the Chicago Mercantile Exchange. And Underdog, the fantasy and sports gaming company, announced on CNBC on Tuesday that it will partner with Crypto.com to offer sports predictions markets. Robinhood, Kalshi and Polymarket are also offering sports trades.
“Rapidly growing volumes, new product launches, especially around player props and parlays, and more clear direct marketing by prediction markets (post recent fundraising) are all key developments to watch for,” said Bank of America research analyst Shaun Kelly.
Investors will also be watching to see how federal courts rule on the pending question of whether sports predictions are in fact a form of sports betting. States and tribes argue they are, and that offering sports trades through predictions markets violates tribes’ sovereign rights or states’ rights to legalize sports gambling.
MGM CEO Bill Hornbuckle told the BofA Gaming and Lodging conference Thursday he doesn’t endorse predictions markets.
“Our view is that invites the federal government into a space it’s never been, and it’s not a place we’d like to see this marketplace go. Full stop,” he said.
The NFL told its employees they are under the same restrictions with regards to sports predictions markets as they are for betting. The league has said it worries about the integrity of the game in the face of the possibility of price distortion and other kinds of manipulation.

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David Ellison, CEO and chairman of Paramount, told employees Thursday that they will be expected to work in the office five days a week starting Jan. 5, 2026.
Employees who do not wish to make the transition can seek a buyout.
The move could help Paramount thin the herd ahead of looming staffing cuts.
Paramount Skydance is looking to take $2 billion in costs out of the conglomerate’s budget.

Paramount Pictures studio lot at 5555 Melrose Avenue in Hollywood, California, on June 5, 2024.
Brian Van Der Brug | Los Angeles Times | Getty Images

David Ellison continues to put his stamp on Paramount after its acquisition by Skydance.
The CEO and chairman told employees Thursday that they will be expected to work in the office five days a week starting Jan. 5, 2026, according to a memo obtained by CNBC. Employees who do not wish to make the transition can seek a buyout starting Thursday and until Sept. 15.

“To achieve what we’ve set out to do — and to truly unlock Paramount’s full potential — we must make meaningful changes that position us for long-term success,” Ellison wrote to staffers. “These changes are about building a stronger, more connected, and agile organization that can deliver on our goals and compete at the highest level. We have a lot to accomplish and we’re moving fast. We need to all be rowing in the same direction. And especially when you’re dealing with a creative business like ours, that begins with being together in person.”
The move could help Paramount thin the herd ahead of looming staffing cuts.
Variety reported last month that the company is expected to lay off between 2,000 and 3,000 employees as part of its postmerger cost-cutting measures. These cuts are slated for early November, Variety reported.
Paramount is looking to take $2 billion in costs out of the conglomerate amid advertising losses and industrywide struggles with traditional cable networks.
Phase one of Ellison’s back-to-work plan will see employees in Los Angeles and New York returning to a full five-day workweek in the new year.

Phase two will focus on offices outside LA and New York, including international locations. A similar buyout program will be offered in 2026 for those who operate in these locations.
“We recognize this represents a significant change for many, and we’re committed to supporting you throughout this transition,” Ellison wrote. “We will work closely with managers to ensure you have the time and flexibility to make the necessary adjustments.”

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