European stocks close lower ahead of earnings season

European stocks closed lower on Monday, as investors prepared for what is expected to be a tough earnings season.

Europes bank stocks were among the worst performers, down 0.6 percent. Germanys Commerzbank slumped to the bottom of the sector amid ongoing merger talks with Deutsche Bank. A report said Monday that regulators have set strict standards for a deal, including demands for a detailed workforce reduction plan. Shares dropped 2.5 percent.

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US crude hits 5-month high, settles at $64.40 a barrel as fighting threatens Libyan output

Oil prices rose to a five-month high on Monday, driven by expectations for tighter global supply from fighting in Libya, OPEC-led cuts and U.S. sanctions against Iran and Venezuela.

International benchmark Brent futures were up 69 cents, or 1%, at $71.03 per barrel. U.S. West Texas Intermediate crude settled up by 2.1% at $64.40 per barrel and hit its highest level since Nov. 1.

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Michael Avenatti says Nike ‘pulled a stunt’ by having him arrested

Michael Avenatti said Nike pulled a stunt by having him arrested before he could go public with accusations that the retailer paid certain high school athletes to coax them into playing basketball at Nike-sponsored colleges.

Nike has been covering up this scandal for over five years, Avenatti told CNBCs Closing Bell on Monday. They knew they could not control me. ... They effectively had to shoot the messenger.

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Teen workers are returning to restaurants, but the industry is still scrambling for employees

Teenagers are coming back to the restaurant workforce, but restaurants are still scrambling for workers, according to a National Restaurant Association report released Monday.

The number of restaurant employees between the ages of 16 and 19 years old has ticked back up to pre-2007 levels, right before the financial crisis. However, the labor force participation rate of teens has stagnated since 2016, meaning that the restaurant industry has managed to nab teenage workers from other industries. For example, retail has been plagued by store closures, which translates into fewer retail jobs for teens.

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Measles cases spike in US as outbreak in New York worsens

Measles cases spiked last week as New York Citys ongoing outbreak worsened, the Centers for Disease Control and Prevention said Monday.

In just one week, the number of measles cases around the country so far this year jumped 20 percent, according to new CDC data. The total now stands 465, the second-highest since the the disease was declared eradicated from the U.S. in 2000.

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Private jet service JetSmarter agrees to $3 million arbitration settlement

JetSmarter has reached an agreement to settle claims made by some of its members that the company engaged in unfair and deceptive practices, according to a settlement notice.

The private jet company, which once had more than 8,000 members and a self-proclaimed valuation of over $1 billion, has been the target of more than a dozen lawsuits and claims from members who say the company failed to deliver services promised in their memberships. JetSmarter was the subject of a CNBC investigation that also raised questions about its security procedures and passengers.

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Cramer: Setbacks in Apple, Nvidia, McCormick have been ‘terrific’ buying opportunities

CNBCs Jim Cramer said Monday that stockholders of household names should not be too quick to pull the trigger when they hit a rough patch because the market tends to be forgiving.

When a company with a terrific long-term track record suffers a setback and the stock implodes, the pain can make you want to dump the stock and forget about it, the Mad Money host said. But as weve seen from Apple, Nvidia, and McCormick, these moments of extreme weakness and desperation, they tend to be terrific buying opportunities.

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