CNN BUSINESS | Jamie Dimon says JPMorgan has begun to prepare for potential US default

(CNN Business) – JPMorgan Chase CEO Jamie Dimon says America’s largest bank is once again preparing for a potential US default even though he expects Congress to avoid that “potentially catastrophic” event by lifting the debt ceiling.

In an interview with Reuters on Tuesday, Dimon said JPMorgan has begun scenario-planning for how a possible default would affect financial markets, capital ratios, client contracts and America’s credit ratings. That’s something Dimon has indicated the bank did during previous close calls with the debt ceiling.

“Every single time this comes up, it gets fixed, but we should never even get this close,” Dimon told Reuters. “I just think this whole thing is mistaken and one day we should just have a bipartisan bill and get rid of the debt ceiling. It’s all politics.”  —read more—  

CNN BUSINESS | The workers who keep global supply chains moving are warning of a ‘system collapse’

London (CNN Business) – Seafarers, truck drivers and airline workers have endured quarantines, travel restrictions and complex Covid-19 vaccination and testing requirements to keep stretched supply chains moving during the pandemic. 
 
But many are now reaching their breaking point, posing yet another threat to the badly tangled network of ports, container vessels and trucking companies that moves goods around the world. 
 
In an open letter Wednesday to heads of state attending the United Nations General Assembly, the International Chamber of Shipping (ICS) and other industry groups warned of a “global transport system collapse” if governments do not restore freedom of movement to transport workers and give them priority to receive vaccines recognized by the World Health Organization.  —read more—  

CNN US | These tiny homes in Los Angeles offer the city’s homeless a new lease on life

Los Angeles (CNN) – Jolinn Bracey slept in her Toyota Corolla for five years until she put homelessness in her rearview mirror by moving into a tiny home. 
 
Bracey, 48, is one of 41 residents of The Chandler Boulevard Bridge Home Village in North Hollywood, California, which provides transitional housing for the homeless. 
 
“This has given me a place to reconfigure myself and build up to my new home,” Bracey told CNN. “It put me back into practice of being consistent in the normal things that you do. It grounds you.” 
 
Bracey moved into the 64-square-foot home in February. It features a bed, air conditioner, racks to hang her colorful clothes and, most importantly, a door that locks.  —read more—  

CNN BUSINESS | More men are abandoning college. Professor explains why this is dangerous

CNN – NYU Professor Scott Galloway says the drop in men going to college is part of a growing mating crisis in the US and that the country runs the risk of producing “too many of the most dangerous cohort in the world” if the trend isn’t reversed.  —watch—  

F1 | Hamilton takes 100th F1 victory after late rain shower denies long-time leader Norris at Sochi

Lewis Hamilton took his 100th Grand Prix victory in a Russian Grand Prix that started in dry conditions and ended under rain, the Mercedes driver making a late switch to intermediate tyres to take the lead when pole-sitter Lando Norris agonisingly slid out of the lead with just two laps left. Max Verstappen made it from P20 to P2, and Ferrari’s Carlos Sainz took third having started second. 
 
Grid penalties were the talk of the town on Sunday morning with Valtteri Bottas the latest to take the hit, Mercedes putting a new power unit into his car to see him start 16th with the knowledge that Max Verstappen would start 20th (having taken a new Honda engine earlier in the weekend) and Charles Leclerc 19th with a new Ferrari unit. 
 
As for tyres, there was a mix of mediums and hards on the grid with the first five drivers – Norris on pole, Sainz second, Russell third, Hamilton fourth and Ricciardo in P5 – on mediums, and only Fernando Alonso starting sixth, Sergio Perez (P8), Pierre Gasly (P11), Bottas, Antonio Giovinazzi (P17), Leclerc and Verstappen starting on the hard compounds.  —read more—  

watch: Race Highlights | 2021 Russian Grand Prix

CNN BUSINESS | Biden official reveals the failure behind America’s epic chip shortage

New York (CNN Business) – The shortage of computer chips is raising the price of new and used cars, delaying shipments of electronics and holding back the economic recovery from the Covid-19 pandemic. 
 
“It’s a huge problem,” Commerce Secretary Gina Raimondo told CNN ahead of leading a White House meeting with manufacturers and users of computer chips. “Everything in your life that has an on-off switch requires semiconductors. Your phone, your car, all of the electronics around you.” 
 
The chip shortage, along with other supply chain headaches, will likely cost the global auto industry alone a staggering $210 billion in lost sales this year, according to consulting firm AlixPartners. That’s nearly twice as expensive as the firm forecasted in May when many auto executives hoped the worst of the chip shortage would be over by mid-year.  —read more—  

CNN travel | The couple who fell in love in a Danish dungeon

(CNN) — Dorte Poulsen was sunbathing in her parents’ backyard in her home in Copenhagen. It was 1983, and she was 19, just back from a gap year where she’d backpacked solo around South America and Israel. 
 
Right then, she was enjoying doing nothing, but her sunny basking was interrupted by the phone ringing. 
 
Dorte reluctantly hauled herself off the ground and answered the call. It was a guy she knew, Henrik — his sister was dating Dorte’s brother — he wasn’t a close friend, but they moved in the same circles. 
 
“I’ve got these two Americans visiting me,” Henrik said. “They want to go sightseeing, do you want to join us?” 
 
“Absolutely not,” said Dorte, definitively.  —read more—  

CNN style Arts | How Daniel Craig’s body became his James Bond signature

The year was 2006. Up on the cinema screen, Daniel Craig rose from the azure sea somewhere in the Bahamas, water clinging to abs and trunks alike. In the theater this writer was in, a woman, laboring over each word, let out what many others were thinking: “Oh. My. God.” “Casino Royale” was 29 minutes into its run time, but in that moment a new James Bond was born. 
 
For that moment audiences have Craig to thank, but also someone else: his conditioning coach, Simon Waterson. In the 15 years since the actor was cast as 007, he has turned to Waterson time and again. Now, with Craig’s fifth and final outing as Bond in “No Time to Die,” they’re warming down together for the last time. 
 
Waterson, a former Navy man, was involved in the franchise before Craig, as personal trainer to Pierce Brosnan in “The World Is Not Enough.” When Craig came on board, he arrived with a cigarette and a bacon sandwich. But he also arrived with a vision, Waterson said. “From the very beginning he never wanted a trainer — he wanted a training partner,” he remembers. “Whatever he did, I did.”  —read more—  

CNN style Style | 2021 London Fashion Week highlights

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CNN BUSINESS | How Microsoft built ‘The Frankenstein’ device during the pandemic

(CNN) – When Microsoft (MSFT) closed its Redmond, Washington offices in March 2020 due to the pandemic, the Surface team grabbed what they could for their home offices. For a handful of engineers and product designers, that included The Frankenstein, a prototype for a versatile, transformable laptop built in concert with Windows 11. 
 
The mystery device had already spent three years in Microsoft’s development lab and was set to ship on October 5, 2021, the same day Microsoft planned to launch its first major software update in six years. But the Frankenstein was far from ready: The pieces were taped together with a Surface Pro, a laptop-to-tablet device, and featured new sensors, an updated keyboard and trackpad on the bottom. It needed changes to the lock screen, the woven hinge and its face tracking system, among other updates.  —read more—