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Early Start with Rahel Solomon
Small Businesses Feel The Crunch From Economic Uncertainty; Officials: Baltimore Bridge Collapse "Preventable"; Liniker On Making History, Protecting Trans Community. Aired 5:30-6a ET
Aired November 19, 2025 - 05:30 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
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GUSTAVO VALDES, CNN CORRESPONDENT: Homeland Security Secretary Kristi Noem says that these are not random acts. That they are acting on intelligence and that they are only targeting some migrants, but people here feel like the whole community is under attack.
Gustavo Valdes, CNN, Charlotte.
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BRIAN ABEL, CNN ANCHOR: As the U.S. grapples with an affordability crisis it's having a major impact on the backbone of the nation's economy, small businesses. Just ahead we'll hear from business owners and lay out the challenges they're facing.
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ABEL: Welcome back to EARLY START. This is your business breakout.
And here is where the U.S. futures stand ahead of the opening bell on Wall Street. The Dow, the S&P 500, the Nasdaq all starting the day in the green.
Let's check now on some of today's business headlines.
In just a few hours NVIDIA is set to release its earnings reports. The computer chip giant's report could be a market-moving event. NVIDIA accounts for roughly eight percent of S&P 500's value. Analysts expect a solid earnings report after it became the world's first company to reach a $5 trillion valuation fueled by an AI boom.
A big win for Mark Zuckerberg as a court rules Meta is not an illegal monopoly. The Federal Trade Commission said the company should be compelled to spin off two of its most popular platforms though, Instagram and WhatsApp. But the judge agreed with Meta's argument that competition from YouTube and TikTok keeps it from having an unfair advantage. And a major change is coming to the popular gaming platform Roblox.
Its more than 150 million users around the globe will have to verify their age with a government I.D. if they want to chat privately. Roblox will also offer a new AI tool that analyzes selfies to determine how old a person is. The goal is to connect people of similar ages as Roblox faces a string of lawsuits alleging child safety concerns.
The affordability crisis is affecting plenty of people in the U.S., but small businesses are really feeling the crunch. They're seen as the backbone of the U.S. economy accounting for almost half of all employees and the bulk of job growth.
CNN's Matt Egan has been investigating what it's like out there for small business owners.
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MATT EGAN, CNN SENIOR REPORTER: The mood on Main Street among small business owners -- it's sort of mixed right now. Optimism really skyrocketed after voters returned President Trump to the White House a year ago.
And the small business owners I'm talking to -- they're still hopeful about the future. They're excited about the potential of artificial intelligence, but they're also nervous right now. They're nervous about high costs. They're nervous about how financially stressed their employees have become about trying to make ends meet.
I spoke to Doug Scheffel. He's the owner of a family-run manufacturer in Massachusetts. And he told me "Most of our employees are distracted. They are worried about putting food on the table and buying shoes for their kid."
And his company recently laid off about a quarter of its workforce due to all of the turmoil set off by the president's tariffs that were initially rolled out back in April. And that really was a reoccurring theme from the small business owners I've talked to -- just all of the problems caused by tariffs and the uncertainty around trade policy. Despite the recent rollback of tariffs we're still looking at the highest U.S. tariff rate since 1935.
But this is not just about tariffs. There's other costs here too, including how expensive it's become to provide health insurance for employees. According to National Federal of Independent Business, employers with fewer than 50 workers are now facing a 120 percent increase in the average cost of single coverage health insurance relative to 20 years ago. Just a massive increase in cost.
And it's become so expensive that a lot of small businesses -- they're just not providing coverage at all. Of course, that then puts them at a competitive disadvantage when it comes to attracting workers.
Another problem is just how expensive it is to borrow right now. Small businesses loan rates -- they've come down a bit but they're still looking at an average of nearly nine percent. Some small business owners -- they're facing much higher interest rates to the point that a lot of them are deciding it's just not worthwhile to borrow in the first place. Of course, that then limits their growth potential.
So bottom line, yes, small businesses -- they are the backbone of this economy and right now they're grappling with an affordability crisis too.
Back to you.
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ABEL: Matt Egan reporting. Thank you.
Still ahead on EARLY START more on the push to release the Epstein files. An Epstein survivor tells CNN how she felt the moment she heard the news.
And still to come, federal investigators revealed a seemingly tiny error which contributed to catastrophe in Baltimore last year with the loss of six lives. That's up next.
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ABEL: Welcome back. I'm Brian Abel. Here are some stories we are watching today.
NATO scrambled fighter jets into the airspace over Poland and Romania as Russia carried out a massive attack across Ukraine. Hundreds of drones and nearly 50 missiles rained down on western cities. Officials say one attack in the city of Ternopil killed 16 people. Dozens were wounded when drone strikes started fires in the city of Kharkiv.
Tuesday was a landmark day for U.S.-Saudi diplomacy with President Trump hosting the kingdom's crown prince. Following his meeting with Mohammed bin Salman, the president announced closer military ties between the two nations. Pending agreements include the sale of U.S. F-35 fighter jets and Saudi Arabia being designated as a major non- NATO ally.
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In the coming hours, President Trump is expected to sign a bill compelling the U.S. Justice Department to release all files related to the late sex offender Jeffrey Epstein. The bill quickly moved through Congress with only one Republican lawmaker opposing it.
Epstein survivors were also in Washington to celebrate the vote. Those survivors -- they include Jess Michaels. Michaels says she was assaulted by Epstein in 1991. She told CNN how it felt when she and other survivors found out about the passing of the bill and how it will impact their lives.
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JESS MICHAELS, EPSTEIN SURVIVOR: Overwhelming. It's hopeful. It's more than we expected to get. So we're truly grateful.
As survivors we've waited too long. There's never going to come a point when those files are perfect -- perfectly safe to put out. And we have spoken to survivors that are -- that are even not public now -- that are Jane Does. And we all agree it is time to release the files so that accountability and justice can happen.
We need the people that have failed us for decades to finally do their job, and we don't need to continue forcing this. You know, there was a -- there was a staffer there today that we spoke to and this phrase will live with me for the rest of my life. She, in tears, said to us "It shouldn't take an act of Congress for you guys to get justice." And it shouldn't.
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ABEL: The National Transportation Safety Board revealing a label put in the wrong place on a giant cargo ship may have led to the deadly Baltimore bridge collapse.
The NTSB presented their findings at a public meeting in Washington on Tuesday. CNN's Brian Todd was there.
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BRIAN TODD, CNN CORRESPONDENT: They are focusing on a cascading series of events which led to this tragedy -- two power blackouts, the failure of an emergency generator, and a horrible loosely placed wire that I'm going to get to in just a second.
But first, at the top of the hearing the chairwoman of the NTSB Jennifer Homendy focused on the sheer and horrible avoidability of this tragedy. Take a listen.
JENNIFER HOMENDY, CHAIR, NTSB: The fact is none of us should be here today. This tragedy should have never occurred. Lives should have never been lost. As with all accidents that we investigate this was preventable.
TODD: Now, more specifically to what could have really specifically caused the power blackouts, one loosely placed, badly connected wire is one thing that they're focusing on in this hearing. This -- there was a label that was put in the wrong place on a signal wire that was connected to a circuit breaker. We have a diagram that they showed of that wire and how it should have been placed.
This label was poorly placed on the wire -- kind of at the base of the wire -- preventing the wire from being fully connected to the circuit breaker. And that was placed there loosely at the time the ship was built about 10 years ago. And they said that caused the first blackout. That loosely placed wire caused the first blackout which, of course, triggered a series of events -- a second blackout and then the failure of the emergency generator.
You know, Jennifer Homendy, the NTSB chairwoman, said that this vessel is about as long as the Eiffel Tower is tall and trying to find a loose wire on a ship like this is like trying to find a loose bolt on the Eiffel Tower.
In addition, they showed a harrowing picture of the last vehicles to exit the bridge before impact, and you can see it from the dashcam of one of the vehicles. This is on southbound on the Francis Scott Key Bridge just a few -- a couple of minutes really before the impact. And you can see the vehicles. There is a truck on the left, and you can see the ship as it careens toward the Key Bridge on the righthand side.
One other thing quickly. Officials here said that the six construction workers who were in the middle of the bridge in their cars who died when it -- when they fell into the water -- they did not receive adequate warning that danger was imminent. They said if they had been warned at the same time that the police were warned they could have had about a minute and a half, possibly, to get off that bridge.
Brian Todd, CNN, Washington.
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ABEL: Still to come this hour, CNN sits down with Brazilian singer- songwriter Liniker on living her dreams, making history, and confronting the harsh reality of life back in Brazil. Stay with us.
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[05:53:47]
ABEL: The civil liberties advocates are calling it a win for religious freedom. A federal judge is temporarily blocking a Texas law requiring public schools to display the Ten Commandments. The order comes in response to a lawsuit filed by a group of families who argue the displays violate the separation of church and state. Several other southern U.S. states have similar laws mandating the display of the Commandments. And legal experts say the issue will likely reach the U.S. Supreme Court.
Nicki Minaj is used to performing for a crowd but when the rapper took the stage at the United Nations she admitted being a bit nervous. Minaj spoke at a special event drawing attention to the plight of Christians in Nigeria. President Trump says he is considering military action over what he describes as the Nigerian government's failure to protect Christians from a mass slaughter by Islamic insurgents.
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NICKI MINAJ, MUSICIAN: Faith is under attack in way too many places. In Nigeria, Christians are being targeted, driven from their homes, and killed. Churches have been burned, families have been torn apart, and entire communities live in fear constantly simply because of how they pray. Protecting Christians in Nigeria is not about taking sides.
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[05:55:12] ABEL: The U.S. ambassador to the U.N., Mike Waltz, says Minaj was asked to speak after showing support for a Truth Social post from the president referencing the Nigeria issue.
Brazilian phenom Liniker is in prime form. The singer-songwriter is now the most awarded out-trans woman in Grammy's history.
CNN's Julia Vargas Jones sat down with the trailblazer who opened up about what it's like to achieve her dreams while her community lives in fear back in Brazil.
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LINIKER, BRAZILIAN SINGER-SONGWRITER, LATIN GRAMMY WINNER: I came from Brazil. I'm a trans Black person. And these awards bring me to delight, and I know that I'm not going delight alone. I'm going with all my community. I'm going with my history. I'm going with my dreams.
JULIAS VARGAS JONES, CNN CORRESPONDENT (voiceover): Brazilian singer and songwriter Liniker made history at the 26th Latin Grammy Awards, winning three major categories after entering the night with seven nominations.
Already the first-ever out transgender artist to win a Latin Grammy, her unmistakable soulful voice and bold mix of rhythms Liniker now stands as the most celebrated Brazilian artist of 2025 while Brazil, for the 16th year straight, leads a somber global ranking.
JONES: You're successful. You have all these wins. And you talk a lot about your community. It's also a time where Brazil continues to be the deadliest place for trans people --
LINIKER: Yes.
JONES: -- specifically Black trans women.
How do you hold both of these things -- you know, the success and the exposure that you have with this harsh reality?
LINIKER: I don't know because sometime I have to work to not -- for not be delusional. And I say delusional because I've been living a life of dreams, receiving awards, being successful, being a huge artist in my country, and now starting my career out from Brazil.
But I know my reality, and I know the reality of my community. I know that being a famous person do not be put in a different place about the other boys, girls, and them that came to the street and was received with violence.
So it's hurt me a lot. This hurts me a lot. This makes me feel anxious, nervous, and sad. But it is important to have my community living a life as an artist who are coming to the world with poetry, with love, and give love to the world through my music, through my message, through my lyrics. But it is not easy.
JONES: As a famous person do you feel like the fame protects you or do you feel more exposed to this?
LINIKER: I think -- before, I thought that I was protected but now I know that I'm not. Even more I'm going to the light. More the violence are coming to me too at this -- on the social media in some comments, in some stalkers. I'm always praying for myself and praying for my community.
JONES: What do you think that needs to happen for trans people to have a better outcome in Brazil? Like, what does Brazil need to face?
LINIKER: I think we need to be seen as human beings and that is all.
JONES: How hard is that?
LINIKER: We just want to exist. We just want to share love -- to share who we are. We just want to live in peace. We just want to live. We just want to work. We just want to compose. We just want to come back safe to home.
JONES (voiceover): That message resonates with her fans in the U.S. as well. An artist who, through her pain and joy, invites her public to feel deeply.
JONES: What would you say to the Black and queer and trans kids that are watching you get this recognition? That are watching you receive these awards and see you exploding. What would be your message to them?
LINIKER: Be kind with yourself and respect your soul always.
JONES (voiceover): Julia Vargas Jones, CNN, Los Angeles.
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ABEL: Finally, LeBron is back. After being out from injury, the Lakers superstar took to the hardwood against the Utah Jazz for his first appearance this season. The 40-year-old made history when he started the game, becoming the first NBA player to play in 23 seasons. King James might be a little rusty, scoring only 11 points but the Lakers won 140-126.
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Thank you for joining us here on EARLY START. I'm Brian Abel in Washington, D.C. "CNN THIS MORNING WITH AUDIE CORNISH" starts right now.
