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In major Chinatowns, luxury development and public-use projects have altered the fabric of these historic communities.
The changes in Chinatowns across the country look similar, though they’re unfolding on different timelines and at different magnitudes.
CNBC spoke with more than two dozen residents, activists and restaurant owners in Chinatowns across the U.S.

Just a few hundred people of Chinese heritage still live in Washington, D.C.’s Chinatown. Many have been pushed out to cheaper and safer areas.
Noah Sheidlower | CNBC

Penny and Jack Lee, now married, grew up in the 1960s and 1970s among the thousands of people of Chinese heritage who lived in apartments lining the main stretches of Washington, D.C.’s bustling Chinatown.
“Chinatown was very bright, vibrant,” Jack Lee recalled. “All of our recreations ended up being in the alleys of Chinatown.” They felt it was a safe haven, he said.

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But the neighborhood didn’t stay the same for long. First came a convention center in 1982 that displaced many in the majority Chinese community. Then, in 1997, came the MCI Center, now Capital One Arena, a few blocks from the heart of the neighborhood. These developments, as well as luxury condos, caused rents to rise and forced grocery stores and restaurants to close. They also pushed residents to move to safer and cheaper areas, Penny Lee said.
Just a few hundred people of Chinese heritage still live in the neighborhood, mostly in Section 8 apartments for lower-income residents. There are now fewer than a dozen Chinese restaurants, as well as the long-standing Chinatown gate and non-Chinese businesses with signs bearing Chinese characters. Jokingly called the “Chinatown Block,” reflecting its diminished size, what’s left of the neighborhood is mere blocks from a wealthier area that contains the U.S. Capitol and the National Mall.
Chinatowns across the nation face a similar reckoning. In major Chinatown neighborhoods, luxury development and public-use projects have altered the fabric of these historic communities, according to more than two dozen activists, residents and restaurant owners. While some argue these developments accelerate local economies, many interviewed by CNBC say they destroy the neighborhoods’ character and push out longtime residents.
Some Chinatown residents benefited from the development boom, selling properties to developers or drawing more customers from increased foot traffic. Many others, meanwhile, have been driven out by higher rents, limited parking and increasingly unsafe conditions.
The changes in Chinatowns across the country look similar, though they’re unfolding at different timelines and magnitudes. Chicago’s Chinatown, in comparison with other Chinatowns with shrinking populations, more than doubled its Chinese population between 1990 and 2020.

“Those who are interested in preserving D.C. Chinatown should look toward its intrinsic value to tell the Chinese American story, the American story,” said Evelyn Moy, president of the Moy Family Association, which provides education and assistance to residents in Washington, D.C.
Noah Sheidlower | CNBC

Cities already deeply affected by gentrification and high-end development stand as templates for how the shift may unfold elsewhere. For many, housing is the problem — and the solution.
“We can’t build our way out of the housing crisis, but we can’t get out of the housing crisis without building,” said Ener Chiu, executive vice president of community building at East Bay Asian Local Development Corporation in California, which has built 2,300 permanently affordable homes in Oakland.

A case study in the heart of Manhattan

In Manhattan’s Chinatown, which dates back to the late 1800s, residents and local organizations said there are two interrelated fights: one against luxury development, and another to build more affordable housing and maintain existing apartments. Some have been frustrated that money and government support have gone toward skyscrapers and not the longtime residents who still struggle to secure housing in the neighborhood.
Opponents say tall, modern buildings — such as One Manhattan Square, a 72-story residential skyscraper in nearby Two Bridges developed by Extell Development Group, which features units priced at over $1.2 million — will affect surrounding property values, the structure of neighboring buildings and the percentage of Asian residents in Chinatown.

Opponents say tall, modern buildings such as One Manhattan Square affect surrounding property values, the structure of neighboring buildings and the percentage of Asian residents in Chinatown.
Noah Sheidlower | CNBC

There are also plans to develop four more towers ranging from 62 to 77 stories, each with 25% affordable housing, by Extell, JDS Development Group, and Chetrit Group.
City councilmember Christopher Marte and residents of the Lower East Side and Chinatown filed a lawsuit against the buildings’ developers and the city in October, arguing construction of the towers will create further environmental and health issues. The suit contends the developments violate the Green Amendment granting New York state residents the right to clean air.
Extell and JDS Development Group did not provide comment for this story.
Some residents have shown tentative support for the luxury buildings, saying they might make the neighborhood safer or bring in wealthier Asian residents who could boost Chinatown’s economy. Most who spoke with CNBC, however, expressed frustration over the rapid development of these megaprojects.
The Two Bridges fight is an experiment in looking out for residents’ livelihoods while “fighting against a very anti-humanity way of seeing a city,” said Alina Shen, the lead Chinatown Tenants Union organizer at grassroots community organization CAAAV: Organizing Asian Communities. “It’s a response to the fact that people who remain in Chinatown feel a deep pessimism for what’s happening and from literally being in the shadow of a ledge of a mega tower.”
The struggle with luxury developers has also involved the fight for secure housing.

Manhattan Chinatown’s housing stock is “really aged,” which has led to costly fires, according to Thomas Yu, executive director of Asian Americans for Equality.
Noah Sheidlower | CNBC

Chinatown’s housing stock is “really aged,” but sparse vacant land has made creating affordable housing difficult, said Thomas Yu, executive director of Asian Americans for Equality, which has created more than 800 affordable housing units citywide. The development process for new units can take years, he said, and developers have rapidly sought out Manhattan’s Chinatown as the borough’s “last place with huge potential returns.”
Evictions, buyouts and deregulation of rent-stabilized housing have contributed to Chinatown’s population decline and illegal sublet situations, according to Yu.
Chen Yun, a tenant leader for CAAAV, said she had a landlord who for years refused to repair heating and hot water. She said she and her husband would boil pots of water at work and bring them home to bathe. They also dealt with a collapsed ceiling, she said. Yun spoke in Mandarin, translated by Shen and CAAAV communications manager Irene Hsu.
In 2005, Yun helped grow the Chinatown Tenants Union to help residents fight landlords and report faulty conditions. However, residents continue reporting similar housing issues, which Yun said has pushed some onto the streets, and more residents have mobilized to oppose developments they say could exacerbate these issues.
“No matter how beautiful or well-built these buildings are, [residents] simply can’t afford it, it’s not within their means, and these luxury buildings have nothing to do with us,” said Yun, who lost her job during the pandemic and spends much of her retirement money on rent.
Yu, of Asian Americans for Equality, said his organization is not against development but that more affordable housing should go up instead of solely market-rate buildings. Asian Americans have among the highest citywide poverty levels and have poor odds of finding secure housing, Yu said.
Some argue luxury development is eliminating affordable housing opportunities by sheer proximity, as one of Chinatown’s ZIP codes was excluded from a city loan program for low-income areas since it also included the wealthy Soho and Tribeca neighborhoods.

In Manhattan’s Chinatown, residents and local organizations said there are two interrelated fights: one against luxury development, and another to build more affordable housing and maintain existing apartments.
Noah Sheidlower | CNBC

Some residents expressed feeling an intense divide between their local government and Chinatown — fueled in part by rezoning debates, not to mention a proposed $8.3 billion 40-story jail in the neighborhood.
Zishun Ning of the Chinatown Working Group has led protests against the proposed jail, as well as against the Museum of Chinese in America, which stands to benefit from the jail’s expansion via a $35 million government investment. Ning said the city government’s “big development” agenda has “pitted us against each other.”
The museum’s leaders said they’ve been scapegoated, as they weren’t included in development talks with the city but could not turn down the money.

Moving out

For many Chinatown residents, rising rents and sparse affordable housing have left them with one choice: moving away. But challenges often follow residents, and once they resettle, some face familiar changes.

Maggie Chen, a receptionist in Boston who has lived in an affordable housing development for eight years, said rising rents have made her reconsider whether living in Chinatown is economical.
Noah Sheidlower | CNBC

Many Chinese residents have relocated from Boston’s Chinatown to the nearby suburbs of Malden and Quincy, said Angie Liou, executive director of Boston’s Asian Community Development Corporation. Luxury buildings have opened in these suburban satellite Chinatowns as developers look to capitalize on less developed parts of the city, pushing residents further away.
In Manhattan, a woman with the surname Yang, who requested partial anonymity to preserve her privacy, said she had lived in a $1,100-per-month Chinatown apartment, which her family could no longer afford due to increasing rent. After applying for public housing through the NYC Housing Authority, she moved eight miles away in 2009 into a $400-per-month apartment in East Harlem.
“It was a hard readjustment period just because my life is even to this day still tied to Chinatown, so the train commute is an extra hour,” Yang said. She spoke in Fujianese, with translation by Ling Ren, Asian Americans For Equality’s manager of residential services.

Some Chinatown residents have looked to the suburbs for cheaper rent, lower maintenance costs and better parking, said Patty Moy, manager of China Pearl Restaurant, which has locations in Boston and Quincy, Massachusetts.
Noah Sheidlower | CNBC

Yang said she still goes downtown each week for doctor’s appointments and groceries. She found several other people of Chinese heritage living in her new neighborhood with whom she waits in food pantry lines, some of whom have also relocated from downtown Manhattan, she said.
Other displaced members of New York’s Chinese community have relocated to Flushing, Queens, a hotbed for condominium and affordable housing developments.
Though communities such as Flushing have long appealed to residents across many socioeconomic backgrounds, it’s recently attracted wealthier residents moving into new developments.

“One of the unique aspects of Flushing is what I call the 15-minute neighborhood, the idea that you can live, work, play, go to school, partake in open space, shop, sort of all within 15 minutes,” said Ross Moskowitz, partner at Stroock & Stroock & Lavan, who represents several developers’ projects in the neighborhood.
And as more people move in, rents go up, meaning many residents who relocated to Flushing for cheaper rent have found themselves in the same battles with developers that they fled from, according to Jo-Ann Yoo, executive director of Asian American Federation.

Chinatowns and the pandemic

Many debates surrounding luxury development and affordable housing were accelerated by the pandemic, which shuttered hundreds of businesses across Chinatowns. After experiencing xenophobia and discrimination fueled by anti-Chinese sentiment during the pandemic, many people stopped coming to Chinatowns and frequenting restaurants, clothing stores and art shops. Local families were forced to restrict spending, and some businesses had to cut staff and hours.
Some businesses in Oakland have been unable to build back after looting and anti-Asian attacks on public transit caused many residents to fear going out after dark, said Evelyn Lee, former president of the board of directors at Oakland Asian Cultural Center. This has contributed to reduced pedestrian traffic in Chinatown, she said.

Manhattan Chinatown native David Leung took over Wo Hop Restaurant in 2016. Leung reduced his restaurant’s hours in 2020 during the Covid pandemic and watched as storefronts emptied.
Noah Sheidlower | CNBC

In Manhattan, Chinatown native David Leung, who took over Wo Hop Restaurant in 2016, remembers old-school factories making tofu and small grocery stores that recently closed. Amid rising anti-Asian sentiment and the pandemic’s harsh economic impact, Leung reduced his restaurant’s hours and watched as storefronts emptied.
“There are so many stories about Chinese restaurants around for decades, and now they’ve gotten replaced by modern types like tea shops or pastry shops,” Leung said. “Chinatown is still an Asian community, I guess, but it’s a lot more mixed than it used to be decades ago.”
To assist struggling small businesses, nonprofit organization Welcome to Chinatown distributed over $750,000 in small business grants throughout the community through its Longevity Fund, its co-founder Vic Lee said. Send Chinatown Love, which provides relief and growth efforts, raised over $1.1 million for the neighborhood and directly supported 59 merchants, according to its website.

Mei Lum is the fifth-generation owner of Wing on Wo & Co., the oldest operating store in Manhattan’s Chinatown, as well as the founder of the W.O.W. Project. She said there isn’t a robust next generation to “really problem-solve and think through these circumstantial, political, and contextual issues arising in the neighborhood.”
Noah Sheidlower | CNBC

Still, many small businesses are threatened by the changes. The new generation hasn’t frequented restaurants such as Hop Lee as often as older clientele due to differences in taste, said the restaurant’s owner, Johnny Mui.
“A lot of our businesses now, they’re more for a higher income bracket, and it’s just growing over the years slowly,” said Carry Pak, a Chinatown resident and CAAAV youth leader. “Having spaces where the immigrant community can still feel comfortable with being able to speak the language to street vendors or grocery vendors is particularly key.”

The stadium debate

Another common issue facing Chinatowns: sports arenas and other public-use venues. Some argue stadiums can provide Chinatowns with more foot traffic and opportunities, though others say they have historically destroyed homes and attracted chain businesses that outcompete Chinatown businesses.
Plans for a new Oakland Athletics ballpark a mile from the city’s Chinatown, which prompted concerns from residents, fell through last month after the team purchased land for a new stadium in Las Vegas.
In Philadelphia, plans for a new arena have irked some Chinatown residents and business owners, who say developers and city governments have neglected the community’s needs.

“We as a community need to be opposing it as much as possible in case there’s legs to this idea that the arena is going to be built,” said John Chin, executive director of the Philadelphia Chinatown Development Corporation.
Pia Singh | CNBC

A proposed $1.3 billion Sixers arena would sit blocks from the city’s Chinatown Friendship Gate. The privately funded arena is in the first stages of construction. Developers are working on gaining entitlements and approvals as the project moves toward its scheduled September 2031 opening date.
The development team expects the 18,000-seat arena to be a “major economic driver” for Philadelphians, projecting $400 million of annual economic output and 1,000 jobs.
Since the proposal was made public last summer, several Chinatown community members and residents petitioned the developers and city leaders to shutter the project. Experts previously said professional sports stadiums fail to generate significant local economic growth, and tax revenue is insufficient to make positive financial contributions.
The owner of Little Saigon Cafe in Philly’s Chinatown, a man known as “Uncle Sam,” leads a coalition of more than 40 association leaders against the arena development. Uncle Sam, a Vietnamese refugee, came to the city more than four decades ago.
“If the arena is built, it will destroy a community, destroy our culture,” he said.

“We’ll fight to the end. We’ll do everything we can to defeat this [arena] project,” said “Uncle Sam,” the owner of Little Saigon Cafe in Philadelphia’s Chinatown.
Pia Singh | CNBC

Private and government-led investments in public spaces have pushed out lower-income residents, said John Chin, executive director of the Philadelphia Chinatown Development Corp. His organization empowers native Chinese speakers to voice their opinions to Chinatown’s elected officials, city representatives and Sixers development heads.
The Sixers did not respond to a request for comment on how the development would impact Chinatown.
Last month, Philadelphia Mayor Jim Kenney announced the city would conduct an independent study on the arena’s impact on the community.

Staying alive — and growing

Many Chinatowns have struggled to secure government support while they contend with tough conditions in the economy and the real estate market.
Yet some Chinatown leaders remain optimistic they can work with developers to maintain the neighborhoods’ character. Some leaders doubled down on fighting developers to preserve historic architecture and businesses, while others embraced development to grow opportunities for residents.

Business owners in San Francisco’s Chinatown who spoke with CNBC said the neighborhood’s businesses, though still recovering, are keeping the city’s culture alive.
Rebecca Smith | CNBC

San Francisco Chinatown’s more than 14,000 residents, many of whom are low-income and elderly, have faced housing shortages. Modern businesses are taking over decades-old shops.
However, business owners who spoke with CNBC said Chinatown’s businesses, though still recovering, are keeping the city’s culture alive.
George Chen, who owns the contemporary Chinese restaurant China Live, remains optimistic about getting San Francisco’s Chinatown back to its heyday.
“You can look from my roof and go see pretty much the 22 blocks of Chinatown, and I think there’s a cultural relevance to keeping the immigrant story alive,” Chen said.
At least one U.S. Chinatown has grown while others shrink.
The Asian population of Chicago’s Chinatown has more than doubled in three decades, according to the U.S. Census Bureau. Many new residents are Fujianese from Southeast China and have driven new restaurants, buildings and support services.
Paul Luu, CEO of Chicago’s Chinese American Service League, said families have moved from other Chinatowns to Chicago’s to take advantage of the city’s nonprofits and the growing local job market. He added that its distance from the pricier South Loop makes prices cheaper than in other cities.

The Asian population in Chicago’s Chinatown has more than doubled in three decades, according to the U.S. Census Bureau.
Noah Sheidlower | CNBC

Despite the growth, Chicago’s Chinatown is facing some of the same issues as those in other cities.
Some residents have expressed concerns about a $7 billion development called The 78, which will include high-rises, residential towers, office buildings and a riverwalk to the north of Chinatown. Some fear The 78 would raise rents and property taxes, as well as push out local businesses and residents.
Luu said The 78’s leadership team approached Chinatown leaders early in development to hear concerns and work to establish more affordable and accessible housing and commerce.
As high-end development occurs in the right locations, it can promote the local economy and encourage progress, said Homan Wong, an architect on the board of directors for the Chicago Chinatown Chamber of Commerce. He said issues of parking and safety still hurt Chicago’s Chinatown but that the Chamber remains focused on working with developers to keep the community growing.
“The opposite of development would be decay,” he said. “The reality is that if you don’t move forward, you’re going to fall behind.”
— Noah Sheidlower reported from Boston, Chicago, New York and Washington, D.C. Pia Singh reported from Philadelphia. CNBC’s Rebecca Smith contributed reporting from San Francisco. More

Most EVs for sale today do not qualify for the full federal tax credit under the Inflation Reduction Act because of where the vehicles or components are built.
But leasing the vehicles can save drivers thousands of dollars.
Hyundai, Kia and Ford say they will look to increase leasing on their EVs to lower the pricing and increase sales.

Dave Walters of Orange County, California, stands by his newly leased Hyundai Ioniq 5 electric vehicle.
Provided by Dave Walters

Fed up with high gas prices and enticed by federal tax credits, Dave Walters decided he wanted an all-electric Hyundai Ioniq 5 for his next vehicle.
The Orange County, California, resident initially thought about purchasing a used model, until he learned he could lease the vehicle and take advantage of a key loophole under the Inflation Reduction Act.

Buying a used Ioniq, which is produced in South Korea and Indonesia, wouldn’t earn him $7,500 off through a federal tax credit. Leasing the vehicle would.
“I ran the numbers — what it would be without the leasing credit and with the leasing credit — and that kind of put me over the top and that was the main thing of why I went in that direction,” he said. “It was a few hundred dollars less a month.”
Walters is exactly the kind of consumer Hyundai Motor and other automakers have started to target for EV leases to capitalize on a loophole in the IRA that allows vehicles produced outside North America to qualify for the credits. It’s something lawmakers such as U.S. Sen. Joe Manchin, D-W.V., intended the rules to block.
Under the IRA, leasing is categorized as commercial business and therefore exempt from regulations that require the vehicle and battery components to be made in North America. Most EVs for sale today do not qualify for the full tax credit because of where the vehicles or components are built.

Sen. Joe Manchin, D-W.V., talks with fellow legislators on the House floor before a joint meeting of Congress at the U.S. Capitol in Washington, April 27, 2023.
Elizabeth Frantz | Reuters

But leasing could save drivers thousands, as long as the companies receiving the credits pass the savings on to consumers.

“I’m not surprised that the manufacturers are saying that they’re going to do more leasing,” said Charlie Chesbrough, Cox Automotive senior economist. “The IRA rolling on EVs and allowing them to qualify for that $7,500 really is a game-changer, and that makes a huge impact on our monthly payment.”
For a $50,000 EV and a 36-month lease, Chesbrough estimates the full $7,500 tax credit equates to $222 in monthly savings for a consumer.
Auto research firm Edmunds reports about 37% of EVs bought in April were leased, up from 25% during the first quarter and 13% last year.
“It kind of creates a loophole for automakers to target more affluent customers who are probably more likely to be able to afford and actually get approved to buy an EV,” said Jessica Caldwell, Edmunds executive director of insights. “It also allows them to level the playing field against competitors who get the full tax credit when purchasing.”
The percentage of Hyundai Ioniq 5 vehicles that are leased spiked from about 2% to begin this year to more than 30% in April, according to Hyundai Motor America CEO Randy Parker. Starting this month, the company is offering a $499-a-month leasing deal for the vehicle — lower than the industry’s average lease payment of $577, according to Edmunds.

The Kia EV6 on display at the New York Auto Show, April 13, 2022.
Scott Mlyn | CNBC

“We want to continue to push and highlight leasing as much as we can so we can continue to take advantage of the tax credit and consumers can take advantage of the tax credit,” Parker told CNBC. “Right now, that’s how the cards have been dealt.”
Kia and Ford also say they will look to increase leasing on their EVs to lower the pricing and increase sales.
Kia expects to increase its EV leasing from below 15% now to as high as 40% in the coming months, Watson said. Like Hyundai, Kia is offering a $499 leasing deal for its EV6 with a $4,999 initial down payment.
“For the next several years, Kia is going to have to lean heavily into leasing to be able to pass along that $7,500 credit to customers. And so that’s what we intend to do,” said Eric Watson, vice president of sales operations at Kia America.
Prior to the IRA passing, Hyundai and Kia, which are owned by the same South Korean parent company, were second in the U.S. in EV sales behind Tesla. But their sales have since fallen behind those of General Motors and Ford, both of which have vehicles that are fully or partially eligible for federal tax credits.
Hyundai and other automakers that became ineligible for the credits under the IRA opposed the regulations, seeking a longer ease-in period for the new rules or broad exemptions based on their U.S. EV plans.
“It gives us a lifeline. I wouldn’t call it leveling the playing field,” Watson said of leasing qualifying for the $7,500 tax credit.

President Joe Biden stands next to a Ford Mustang Mach-E SUV during a visit to the Detroit Auto Show, to highlight electric vehicle manufacturing in America, Sept. 14, 2022.
Kevin Lamarque | Reuters

A Ford spokesman said the company’s credit arm is working on a leasing strategy for electric vehicles such as the Mustang Mach-E, which is produced in Mexico and currently qualifies for half the federal tax credits if purchased. The company’s electric Ford F-150 Lightning is eligible for the full $7,500.
“We’re going to lease electric vehicles and you’ll be hearing more about that from us pretty soon,” Ford CFO John Lawler said last month.
A spokesman for GM said the company is not changing its leasing strategy for EVs, as all of its vehicles qualify for the full tax credits. Only about 3% of GM’s EVs are leased, he said.
While the lease terms are typically only a few years, automakers have touted EVs as drawing new customers to their brands.
“The earlier you get these customers within your brand, especially with the new technology, I think the better chance you have to keep them,” Edmunds’ Caldwell said.
And temporary leasing may be an attractive option for many consumers such as Walters, who traded in a 2009 Nissan Murano, as EVs remain an emerging industry with changing technologies and a significant number of new entries.
“I wanted to kind of dip my toe into it and see if I really like it. It’s only been six weeks but it’s been really good so far,” Walters said. “I really enjoy driving it and I really enjoy not having to pay for gas.” More

Airlines are adding U.S.-Europe flights in hopes the international travel boom will continue.
Carriers adding flights range from large airlines like Delta to upstarts like Play and Norse Atlantic.
Fares for international trips are up, while domestic fares have moderated.

A traveller walks in the Terminal 2 corridors of the Roissy-Charles de Gaulle airport with Air France airplanes in the background, in the northeastern outskirts of Paris, on September 16, 2022, amid a strike of air traffic controllers.
Julien De Rosa | AFP | Getty Images

Flights to Europe will be plentiful this summer. Cheap airfare? Not as much.
Airlines scheduled a near-record 51,000 flights from June through August from the U.S. to Europe, according to airline data firm Cirium. The number of scheduled seats is the highest since 2018.

Despite that increase in capacity across the Atlantic, fares are up sharply as airlines test travelers’ appetites for trips abroad. According to Hopper, U.S.-to-Europe roundtrip flights are going for an average of $1,032, up 35% from last year and 24% from 2019. Average domestic U.S. airfare, by contrast, is down 15% from a year ago to $286 for a round trip, roughly in line with pre-pandemic levels.
Executives at longtime operators of European service like Delta, newcomers like JetBlue, and budget upstarts like Norse Atlantic Airways and Play are all betting big that travelers will shell out for more international trips with the worst of Covid — and accompanying travel restrictions — in the rearview mirror.
Airlines and airports have been racing to fill jobs in hopes of avoiding last summer’s chaos.
“European travel was definitely still ramping up last summer,” said JetBlue CEO Robin Hayes in an interview with CNBC in late March. “I think a lot of people just didn’t fly last year, and now they’re looking to fly this year.”
JetBlue is flying to London’s two largest airports from New York and Boston, and plans to launch service to Paris from New York in June. It plans to add service to Amsterdam this summer.

Delta plans to offer a record number of seats from the U.S. to Europe, up 20% from last summer. The carrier will serve 69 markets in Europe, a spokesman said.

Arrows pointing outwards

Airlines summer flights to Europe

“If you are traveling during those peak summer months, you need to book now,” said Hopper’s lead economist, Hayley Berg.
In order to avoid the highest of the high fares steer clear of national holidays, and fly midweek, she recommended.
Some airline executives have recently noted that travelers are going back to more traditional booking patterns, which drives up fares on peak days. While airlines generally reduce capacity during less popular periods of the week or year, there could still be the chance for some more palatable prices. Airlines’ schedules from late March through the end of October show they will offer record numbers of seats for that period, data from OAG show, a sign that they could be expecting robust demand into the shoulder season.
Berg also recommends staying open-minded about connecting trips and cautions against filtering flights for nonstops only.
Icelandic low-cost airline Play’s flights stop at its home airport of Reykjavik, requiring travelers going on to other destinations to change flights. The carrier has been growing rapidly with its fleet of Airbus A320 and A320neos. It’s serving 39 destinations this month, up from 31 in December, the company said.
“We’re extremely positive and bullish about the year,” said CEO Birgir Jonsson. Nearly 36% of Play’s passengers last month were connecting to other destinations through the Icelandic capital, the airline said.
Other low-cost airlines are ramping up service between the U.S. and Europe, including Norse Atlantic Airways, which operates Boeing 787 Dreamliners. The carrier serves London Gatwick, Berlin, Paris and Oslo, Norway, and plans to launch flights to Rome next month from New York’s John F. Kennedy International Airport. It’s also planning to offer London Gatwick service from a host of U.S. cities including San Francisco, Fort Lauderdale, Florida, Los Angeles and Washington, D.C. in the coming weeks.
Norse Atlantic’s senior vice president of communications Philip Allport said its fares for U.S.-Europe routes have been higher than usual but that the carrier is still at “the cheaper end of our direct competitors.” A round trip on Norse between New York and Paris was going for close to $1,300 for a trip departing July 1, returning a week later, lower than $1,804 on Delta, each on standard economy tickets.
Here is how traditional and nontraditional airlines vary in their services and prices for standard economy tickets:

Arrows pointing outwards More

Dan Snyder agreed to sell the Washington Commanders to a consortium led by Josh Harris, the owner of the NBA’s Sixers and the NHL’s Devils.
NBA legend Magic Johnson is part of the partnership, as well as Harris business partner Mitch Rales.
The deal is valued at approximately $6 billion, according to a person familiar with the matter.

A general view of fans in front of the Washington Commanders logo during the first half of the game between the Washington Commanders and the Philadelphia Eagles at FedExField on September 25, 2022 in Landover, Maryland.
Scott Taetsch | Getty Images

The NFL’s Washington Commanders entered into a deal to be sold to a consortium led by private-equity financier and professional sports team owner Josh Harris, the sides announced Friday.
The deal is valued at approximately $6 billion, according to a person familiar with the matter who declined to be named as the terms weren’t made public. While the deal is still subject to NFL approval, it would top last year’s $4.65 billion sale of the Denver Broncos to Walmart heir Rob Walton.

“League staff and the finance committee will review details of the proposed Washington transaction,” the NFL said. “Any transaction needs to be voted upon by the full membership with 24 of 32 votes needed to approve the sale.”
The deal comes months after team owner Dan Snyder hired investment bankers to explore a sale, CNBC previously reported.
Snyder wasn’t being forced to sell the team despite mounting pressure among other owners to have him removed as owner. Snyder and the Commanders have been the subjects of recent probes by both the House Oversight Committee and the NFL surrounding allegations of sexual harassment and financial misconduct.
Harris said he is determined to bring a Super Bowl title back to the franchise, which hasn’t been to the championship game since 1992. Washington has won three Super Bowls in total, all during the 1980s and 1990s.
“I want to express how excited we are to be considered by the NFL to be the next owners of the Washington Commanders and how committed we are to delivering a championship-caliber franchise for this city and its fanbase,” Harris said in a statement on Friday.

Managing Partner of the Philadelphia 76ers Josh Harris stands on the court prior to Game 1 of an NBA basketball first-round playoff series against the Brooklyn Nets, Saturday, April 15, 2023, in Philadelphia.
Derik Hamilton | AP

Harris, who is a majority owner of the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils, is partnering with NBA legend Magic Johnson and Mitch Rales, a longtime business partner.
The deal comes amid calls for more Black ownership of NFL teams.
“I could not be more excited to be a partner in the proposed new ownership group for the Washington Commanders,” Johnson tweeted on Friday. “Josh Harris has assembled an amazing group who share a commitment to not only doing great things on the field but to making a real impact in the DMV community. I’m so excited to get to work on executing our vision for the Commanders and our loyal fanbase!”
The DMV refers to the Washington metro area, which includes the District of Columbia, Maryland and Virginia.
Other members of the new ownership group include Michael Sapir, CEO of ProShares, and former Google CEO Eric Schmidt. There are other partners in the group who aren’t listed in the press release announcing the deal. Harris will be the lead owner.
Read the full release announcing the deal:
The Washington Commanders and a partnership led by Josh Harris have entered into a purchase and sale agreement, it was jointly announced on Friday, May 12th.
The purchase and sale agreement calls for Harris and partners to acquire the Washington Commanders from the Snyder family.  The agreement is subject to NFL approval as well as the satisfaction of customary closing conditions. 
Please see below for statements from Commanders Co-Owners Tanya and Dan Snyder and from Josh Harris on behalf of the Harris ownership group.
Statement from Commanders Co-Owners Tanya and Dan Snyder:
“We are very pleased to have reached an agreement for the sale of the Commanders franchise with Josh Harris, an area native, and his impressive group of partners,” said Tanya and Dan Snyder.  “We look forward to the prompt completion of this transaction and to rooting for Josh and the team in the coming years.”
Statement from Josh Harris on behalf of the Harris ownership group:
On behalf of our entire ownership group — including Mitch Rales, my longtime sports business partner David Blitzer and Earvin Magic Johnson — I want to express how excited we are to be considered by the NFL to be the next owners of the Washington Commanders and how committed we are to delivering a championship-caliber franchise for this city and its fanbase.
Growing up in Chevy Chase, I experienced first-hand the excitement around the team, including its three Super Bowl victories and long-term winning culture. We look forward to the formal approval of our ownership by the NFL in the months ahead and to having the honor to serve as responsible and accountable stewards of the Commanders franchise moving forward.  
Thank you to Tanya and Dan Snyder and the staff of the Commanders for their partnership and cooperation throughout the sale process.  
In addition to Mitch, David and Magic our extraordinary ownership group includes local business leader Mark Ein, Lee Ainslie, Eric Holoman, Michael Li, owner of Range Group, the Morgan family, owners of Morgan Properties, the Santo Domingo family, Michael Sapir, Co-founder and CEO of ProShares,  Eric Schmidt, former Google CEO and Executive Chair and Andy Snyder amongst others. Together these individuals and families have the collective resources and shared commitment to support our vision for the Commanders.
We look forward to running a world-class organization and making significant investments on and off the field to achieve excellence and have a lasting and positive impact on the community. More

Medicare would spend $5 billion if 216,500 patients become eligible for Alzheimer’s treatment Leqembi, according to research published in JAMA Internal Medicine.
The study authors said the estimated costs to the program for seniors are conservative and spending on Leqembi might increase more than anticipated.
Patients could face an annual bill of about $6,600 per year depending on the state they live in and whether they have supplemental insurance.
Medicare coverage of Leqembi is severely restricted right now, though that could change in July.

The Alzheimer’s drug Leqembi is seen in this undated handout image obtained by Reuters on Jan. 20, 2023.
Eisai | Reuters

The new Alzheimer’s antibody treatment Leqembi could cost Medicare up to $5 billion per year, according to research published in a leading medical journal this week.
Medicare would spend about $2 billion per year if around 85,700 patients test positive for the disease and are treated with the Eisai and Biogen product Leqembi, according to the research published Thursday in JAMA Internal Medicine.

The program for seniors would spend $5 billion if around 216,500 patients become eligible for the breakthrough treatment, according to the study.
The authors said the estimated costs to Medicare are conservative and that spending on Leqembi might increase more than anticipated depending on demand and other factors.
The researchers who conducted the JAMA study included physicians and public health and policy experts. They are affiliated with the University of California Los Angeles, the Rand Corporation, Harvard Medical School and Beth Israel Deaconess Medical Center in Boston, among other institutions.
Eisai and Biogen have priced the twice-monthly antibody infusions at $26,500 per year.
There are also additional annual costs estimated at $7,300 per patient associated with neurologist visits, MRI tests and PET scans, administration of infusions, and monitoring for and treatment of potential side effects, according to the researchers.

The study assumed Medicare would cover 80% of the costs, with patients left to pay the remaining 20% in full or in part depending on whether they have supplemental insurance.
Patients could face an annual bill of about $6,600 per year depending on the state they live in and whether they have supplemental insurance, according to the study. Some lower-income people who qualify for Medicare and Medicaid would pay nothing out of pocket.

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The Alzheimer’s Association, which lobbies on behalf of patients living with the disease, estimates Alzheimer’s and other forms of dementia will cost the U.S. $345 billion this year. Those costs could rise to $1 trillion by 2050, according to the association.
“That’s the case without treatment. Prevention and treatment is the only path toward reducing this cost over time,” Robert Egge, the association’s head of public policy, said in a statement.
“But it’s not cost that should determine if people have access to life improving care — it’s about the impact on people,” Egge said. “Treatments taken in the early stages of Alzheimer’s could mean a better quality of life.”
Leqembi had a positive effect on patients with early Alzheimer’s disease in clinical trial results published in the New England Journal of Medicine in January.
The expensive treatment is not available to the overwhelming majority of patients right now because Medicare has severely restricted coverage of the antibody.
Medicare has promised to provide broader coverage of Leqembi if the FDA grants full approval of the treatment in July. Leqembi received expedited approval from the Food and Drug Administration in January.
The Alzheimer’s Association, members of Congress and state attorneys general are pushing for Medicare to drop its restrictions and fully cover Leqembi.
The antibody treatment, which targets brain plaque associated with the disease, slowed cognitive decline by 27% in Eisai’s clinical trial.
There are currently no other drugs on the market that have demonstrated this level of efficacy at slowing Alzheimer’s disease. Eli Lilly’s donanemab demonstrated promising clinical trial results earlier this month. The company plans to apply for full FDA approval this quarter.
Leqembi and donanemab both carry serious risks of brain swelling and bleeding. More

Nordstrom is pegging its revival to Nordstrom Rack, as it plans to open stores this year, with more coming after that.
Yet the off-price banner has lagged behind competitors and the namesake Nordstrom banner.
In an interview, Chief Stores Officer Jamie Nordstrom said the company has zeroed in on best-selling brands and will benefit from value-conscious customers.

Signage outside a Nordstrom Rack retail store in New York, Aug. 25, 2022.
Gabby Jones | Bloomberg | Getty Images

Shoppers are hungry for deals as they pay more for food and necessities. People are looking for clothes and accessories as they juggle parties, vacations and days at the office again.
But that has not helped Nordstrom’s off-price chain, Nordstrom Rack. The brand remains a weak spot in the overall Nordstrom portfolio, with sales totaling $4.81 billion in the most recent fiscal year, below pre-pandemic levels. In the holiday quarter, Nordstrom Rack’s net sales dropped about 8%, underperforming the roughly 2% decline of the company’s namesake banner.

Despite Rack’s struggles, the Seattle-based department store operator is betting it can turn the lagging chain into a growth driver. It plans to open 20 stores this year with more coming after that.
Nordstrom Rack has formed a dedicated leadership team, which includes some off-price veterans. It sharpened its focus on the well-liked brands that sell well.
The success or failure of the Nordstrom Rack turnaround effort could shape the company’s future. Nordstrom’s overall sales were stagnant even before the Covid-19 pandemic. Now, discretionary merchandise is under pressure because of inflation and higher costs for essentials have nudged consumers toward off-price names. Those chains such as T.J.Maxx, Ross Stores and Burlington Stores, have opened more stores and wooed new customers, driving higher foot traffic than Nordstrom Rack has seen.

Nordstrom, meanwhile, is bracing for a sales decline. It said in March it expects revenue to fall between 4% and 6% this fiscal year compared with the prior one. That includes the effect of its recent decision to shutter its stores and online business in Canada.
Company leaders pinned slowing sales on Nordstrom-specific issues, as well as a tougher economy.

In an interview with CNBC, Chief Stores Officer Jamie Nordstrom said Rack locations got hit by inventory troubles during the Covid pandemic. Shelves swung between having too many items and too few. Too many items came from brands fashion-forward customers didn’t recognize, he added.
“If you went into a Nordstrom Rack, you saw a brand you’ve never heard of. That’s probably not something our customers are looking for,” he said. “If I went into a Rack store — and I’ve been working in this industry my entire life — if there’s a brand that I’ve never heard of, [it’s] probably not a great brand. That’s what we fixed.”
CEO Erik Nordstrom said shoppers have become more hesitant to spend. On a call with investors in March, he said the retailer saw shoppers pull back on spending in late June and through the holiday season. The trend was more pronounced at Rack and among lower-income customers than at the chain’s flagship stores.
He said a little over half of Rack’s sales decrease in the fiscal fourth quarter was driven by company actions to boost profits. Those include moves to eliminate store-based fulfillment of online orders and increase the minimum amount people must spend online to get free shipping.
In the company’s recent letter to shareholders, Erik Nordstrom acknowledged the company fell short in the past year. He said improving Nordstrom Rack’s sales is one of its top priorities.

Digital sales could give Rack an edge. Off-price players have been slower to move online as they focus on the in-person treasure hunt.
But store traffic at Nordstrom Rack has lagged behind traditional off-price banners such as Ross Dress for Less, Burlington, Marshalls and T.J. Maxx when compared with the year-ago period, according to monthly data from Placer.ai, which tracks retail foot traffic. In April, for example, store traffic was down nearly 16% year-over-year at Nordstrom Rack compared with about 3% growth at both T.J.Maxx and Marshalls. Year-over-year store traffic in April declined about 7% at Ross and about 3% at Burlington.
Store traffic does not, however, capture how many items shoppers leave with or how much they’re buying online at home.
Nordstrom’s struggles have attracted outside scrutiny. Activist investor Ryan Cohen, chairperson of GameStop and founder of Chewy, bought a stake in the company earlier this year through his investment firm, RC Ventures. He has pushed for changes at the company as sales stagnate.
Cohen withdrew a proposal to nominate two candidates for Nordstrom’s board, but is keeping options open, including proposing board member changes again, according to a source familiar with the matter.
Cohen declined to a request for comment. Nordstrom also declined to a request for comment on the activist dispute, but said in a statement the company “remains focused on executing its strategy and driving long-term profitable growth and value creation.”
In a tweet Friday, Cohen referred to this article about Nordstrom Rack with a one-sentence reply: “Shareholders want cost cuts and no cronyism.”
Separately, the company recently added Eric Sprunk, former Nike chief operating officer, to its board. This week, it also named former Target executive Cathy Smith as its new chief financial officer.
Shares of Nordstrom reflect its lackluster performance. The stock has fallen about 6% so far this year, underperforming the 7% growth of the S&P 500 and 1% gain of the retail-focused XRT. Its stock closed at $15.13 Thursday, roughly half its 52-week high.
Nordstrom will offer updates about its turnaround strategy when it reports earnings May 31.

‘Golden moment’ for off-price

Nordstrom Rack, a brand that caters to bargain-hunting fashionistas, was founded in 1973. As the department store retailer has closed some full-line stores, it has opened more of the off-price locations.
Nordstrom Rack stores outnumber the company’s namesake stores, with 241 locations across the country, according to company filings. But other off-price names have higher sales and a larger footprint.

Jamie Nordstrom said the Rack stores are the retailer’s “single-largest vehicle for new customer acquisition.” Customers who are younger and with less disposable income often get introduced to Nordstrom through the lower-priced chain, then move to the pricier namesake store, Jamie Nordstrom said. He added Nordstrom customers tend to shop both brands.
Nordstrom Rack stores accounted for more than 40% of new customers in 2022, CEO Erik Nordstrom said on the March earnings call.
The stores are also a way to move merchandise out of its full-line business, but still sell it in a profitable way, Jamie Nordstrom said. Rack also buys from brands’ closeout sales.
As it pins its growth hopes on the off-price locations, Nordstrom has turned Rack stores into e-commerce hubs, too. Customers can pick up and return online purchases at Rack locations, which tend to be closer and more convenient than mall stores.
Other department stores have also expanded into off-price. Names such as Saks Off Fifth and Macy’s Backstage stores fit into the increased emphasis on lower-priced items.
Yet retailers face an inherent tension if they try to juggle both kinds of stores, said Simeon Siegel, a retail analyst from BMO Capital Markets. Off-price retailers make money by being opportunistic. They snap up eye-catching items from reputable brands eager to offload out-of-season or excess merchandise.
Retailers with full-priced businesses can fall into a trap of using the stores to park their own merchandise that hasn’t sold and few people want, he said. That can hurt shoppers’ experience and merchants’ discipline.
“Off-price needs to have a maniacal focus on buying other people’s mistakes,” he said. “Not yours.”
Adrienne Yih, a retail analyst for Barclays, said Nordstrom Rack in the early years relied heavily on its department store merchandise. It doesn’t have the same muscle of longtime off-price players, which have teams that quickly snap up hot-ticket items.
She dubbed 2023 as off-price’s “golden moment” because many retailers and brands got stuck with a lot of extra inventory. Sophisticated buyers can get good merchandise for less.
“Knowing what to buy at what price can be more important in this environment,” Yih said.
Yih added Rack doesn’t have the same breadth as off-price competitors, which have large categories such as home goods and food. Plus, Nordstrom risks stealing sales away from its namesake business, she said.

Rack has a ‘long runway’

Jamie Nordstrom said a small percentage of Nordstrom Rack’s merchandise comes from its full-size stores. He declined to specify further. Along with transferring from stores, it buys direct and closeout purchases from brands and carries some Nordstrom-made products.
But he and other Nordstrom leaders acknowledged the Rack lost its way.

Jamie Nordstrom said the company has already taken steps to turn the off-price chain around. It’s zeroed in on merchandise customers want, including higher-end brands that aren’t typically found at off-price competitors. It’s rolled out a new logo and refreshed its website.
Nordstrom Rack has also tapped some off-price veterans, including Nancy Mair, senior vice president of Rack merchandising, formerly of Burlington, and Kelly Wotton, vice president and divisional merchandise manager of Rack, previously of Macy’s Backstage and T.J.Maxx’s parent company TJX.
On the company’s website, Rack touts clothing, shoes, handbags and more from brands such as Vince, Kate Spade and Ferragamo. Jamie Nordstrom said it must keep that fashion-forward approach sharp along with emphasizing value.
“Our customers are brand first, price second,” he said. “Where we went, with good intention, we went price first, brand second. And our customers did not respond to that.”
Sales performance is stronger at the company’s three newest Rack stores, Chief Brand Officer Pete Nordstrom told investors on the March call. He called that a “proof point” when brands are hot and merchandise is fresh, shoppers respond.
As customers watch their budgets, Jamie Nordstrom said Rack is poised to benefit. He called the stretch after the Great Recession “the best run we’ve had in the modern history of our company.”
“We think that opportunity is right in front of us today,” he said.
He added Nordstrom Rack’s footprint will grow. It has a tiny fraction of locations compared to TJX’s roughly 4,700 stores, Ross’ nearly 1,700 stores and Burlington’s approximately 900 stores.
“As we find great locations to open a Rack store, we’re going to be very interested,” he said. “We think there’s a long runway.” More

Americans in most states will no longer receive Covid exposure notifications on their smartphones.
Nearly 30 states have used a system developed by Apple and Google to alert iOS or Android users when they’ve been exposed to the coronavirus.
The Association of Public Health Laboratories said “the majority of states” stopped using the exposure notification system after the Biden administration ended the U.S. public health emergency.
California, New York, Massachusetts, Washington, Virginia, New Mexico and Colorado are among those states.

A sign reminding riders to wear a face mask to prevent the spread of Covid-19 appears on a bus on First Street outside the U.S. Capitol on Monday, January 10, 2022.
Tom Williams | CQ-Roll Call, Inc. | Getty Images

Americans in most states will no longer receive Covid exposure notifications on their smartphones now that the U.S. public health emergency has ended. 
Since 2020, nearly 30 states have used a Bluetooth system developed by Apple and Google to track the spread of Covid infections and send push alerts to any smartphone user who came in close contact with a person who tested positive for the virus. 

The Association of Public Health Laboratories hosted the national server that the system ran on. 
On Thursday, the organization said “the majority of states” stopped using the exposure notification system after the Biden administration ended the public health emergency on May 11. 
APHL added it will no longer support key components of the system, which aimed to help millions of Americans trace their exposures and make decisions about isolating and testing for the virus.
In a joint statement, Apple and Google did not address states’ decisions to stop using the system.
The tech giants told CNBC the system helped public health departments fight Covid in a way that preserves privacy, referring to how it tracks infections without collecting the location or identity of users. 

California, New York, Massachusetts, Washington, Virginia, New Mexico and Colorado are among the states that said they will no longer use the system after the end of the U.S. emergency declaration. 
“These systems were timed to shut down on the same date that the nation’s COVID-19 State of Emergency ends,” the California Department of Public Health said in a statement late Thursday. 
Several states used the system to create apps that smartphone users could download, such as CA Notify and WA Notify.  
States also provided exposure notifications through a built-in feature on Apple and Google’s operating systems. 
For that method, state health departments had to submit a configuration file with their contact information and Covid guidance to Apple and Google. The two tech companies would use the file to set up a feature on phones that users could activate to receive notifications. 
On Friday, some Apple users who opted in for that feature received push alerts informing them that their iPhones “will no longer log nearby devices and you won’t be notified of possible exposures.” 
One Apple user shared in a Twitter post that their alert said, “Your Health Authority Turned Off Exposure Notifications.”
But not all Apple and Google users in states that stopped using the exposure notification system have received similar alerts, as of Friday afternoon.
Neither Apple or Google addressed why some users received alerts while others did not.
There is no clear tally of how many Americans activated the exposure notification feature on their phones or downloaded apps over the past three years. 
Virginia estimates that more than 3 million users have downloaded the state’s app or used the notification feature since those tools launched in 2020.
New Mexico said the “majority” of residents activated the notification feature on their phones. More than 1.5 million alerts were sent to users who may have been exposed to Covid, according to the state. 
Washington said the state generated more than 2.5 million exposure alerts through its app or the notification feature. 
Researchers in Washington found that the state’s notification tools saved an estimated 30 to 120 lives and likely prevented about 6,000 Covid cases during the first four months after they launched in November 2020. 
Despite these benefits, some Americans have been skeptical of the Covid exposure notification tools. 
A 2021 report by the U.S. Government Accountability Office said that the public expressed concerns about privacy. The report said the public may not trust both local governments and technology companies to handle sensitive health information.
State decisions to end Covid exposure notifications are part of a broader shift in how the country responds to the pandemic. 
Health departments last year loosened Covid restrictions like masking and social distancing as more Americans got vaccinated and boosted against the virus. 
That culminated in the end of the public health emergency, which phased out much of the funding and flexibility that helped expand Covid testing, insurance coverage and access to care during the pandemic.
Still, more than 1,000 Americans are still dying each week from Covid, according to the Centers for Disease Control and Prevention. More

NBCUniversal global advertising chief Linda Yaccarino resigned.
She has been in advanced talks to become Twitter’s new CEO.
Elon Musk has said the new chief executive would start in about six weeks.

Linda Yaccarino, chairman of advertising and partnerships at NBC Universal Media LLC, speaks during a panel session on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 23, 2018. 
Jason Alden | Bloomberg | Getty Images

NBCUniversal global advertising chief Linda Yaccarino has resigned, the company said Friday.
The announcement comes a day after Elon Musk said via Twitter there would be a new CEO of the social media website, although he didn’t name the new person. Musk said in his tweet the person would start in about six weeks.

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Yaccarino was in advanced talks for the role, CNBC’s Julia Boorstin reported, citing sources.
Yaccarino joined NBCUniversal in 2011 and had risen to the top of the company’s global advertising business. On Monday, the ad chief was slated to take part in NBCUniversal’s Upfront event at Radio City – the sales presentation the company, along with its media peers, make to the advertising industry every year in May.
The longtime ad executive brings a wealth of relationships with top chief marketing officers and other advertising executives to Twitter at a time when the platform has seen advertisers flee after Musk’s takeover last year.

Her exit from NBCUniversal comes weeks after Jeff Shell was ousted as the company’s CEO after admitting to an inappropriate relationship with an employee. Rather than replacing Shell, NBCUniversal’s top executives will report to parent company Comcast President Mike Cavanagh.
On Friday, NBCUniversal said Yaccarino would leave the company, effective immediately, and Mark Marshall, the current president of advertising sales and client partnerships would become interim chairman of the company’s advertising and partnerships group.

Marshall will report to Mark Lazarus, chairman of NBCUniversal Television and Streaming. Lazarus and Marshall are likely to take part in NBCUniversal’s Upfront presentation on Monday, CNBC’s David Faber and Julia Boorstin reported on Friday.
This story is developing. Please check back for updates.
Disclosure: NBCUniversal is the parent company of CNBC. More