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☆ This college town is experimenting with giving low-income entrepreneurs and gig workers $12,672, no strings attached
▼ + stars: | 2024-05-07 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

Ann Arbor's program, called Guaranteed Income to Grow Ann Arbor, is giving low- and moderate-income residents $528 a month, no strings attached. Over 50 municipalities have tried the GBI model since 2019, offering low-income participants between $100 and $1,000 a month, no strings attached for one to five years. "This pilot will help us learn whether guaranteed income payments can be an effective way to help some entrepreneurs with their business efforts." Chicago announced in April that it restarted its previous GBI program that offered low-income residents $500 a month. A GBI program in Harris County, Texas is being challenged by Attorney General Ken Paxton, who called the program "unconstitutional."

Persons: —, Ann, Ann Arbor's, Monique Gonzalez, Ann Arbor, GBI, Ken Paxton Organizations: Service, Business, Local, Services, Denver, Ann Arbor Area Community Foundation, University of Michigan, Chicago, Republican Locations: Ann Arbor , Michigan, Ann Arbor, San Antonio, Antonio's, Ann, Michigan, Atlanta, Denver, Flint, Harris County , Texas, Iowa , Arizona, South Dakota

☆ Americans have spent their savings. Economists worry about what comes next
▼ + stars: | 2024-05-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But now that extra spending money is gone, economists are concerned about what comes next. That means many Americans have more debt than savings and suggests “that American households fully spent their pandemic-era savings as of March 2024,” they wrote in a recent report. Consumer spending plays a crucial role in driving economic growth in the United States, and it has shown remarkable strength over the past two years. “A continuing strong labor market could help consumers maintain spending patterns similar to those observed recently, even without pandemic-era savings,” they wrote. What comes next: Disney, Airbnb, Uber, Anheuser-Busch, Tapestry and Dillards all report later this week — investors will look for any comments about how consumer spending, or lack thereof, is altering revenue forecasts for 2024.

Persons: Hamza Abdelrahman, Luiz Edgard Oliveira, ”, Austan Goolsbee, ’ ”, Fitch, Sarah Wyeth, Chris Kempczinski, Abdelrahman, Airbnb, Warren Buffett, Berkshire Hathaway, Greg Abel, Buffett, “, Abel, isn’t, Boeing “, Scott Stocker, Read Organizations: CNN Business, Bell, New York CNN, San Francisco Federal Reserve, Chicago Federal, Society for, ”, Shoppers, Tyson Foods, “, Disney, Anheuser, Busch, Berkshire, International Monetary Fund, Industries, Nvidia, Microsoft, FAA, Boeing, Federal Aviation Administration, CNN Locations: New York, United States, Omaha , Nebraska, Omaha, scamming

☆ Welcome to ‘the Tepid Twenties’? The US economy’s strength won’t be enough to boost global growth
▼ + stars: | 2024-05-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Invigorating growth is critical: When the economy expands, it improves standards of living, promotes innovation and makes households wealthier. Economic growth in Spain and France was stronger than expected last year. But the US is outperforming mainly for one key reason: Robust productivity growth. Productivity growth came in well below expectations in the first three months of the year, according to Labor Department data released last week. A “course correction” isn’t an even stronger US economy: Economic policymakers around the world need to address a range of key issues.

Persons: ” Kristalina Georgieva, ” Georgieva, ” Stephen Gallagher, Gallagher, “, ”, Hande Atay Alam, Recep Tayyip Erdogan, Israel Katz, John Williams, Neel Kashkari, Lisa Cook, Krispy Kreme, John’s, Austan Goolsbee Organizations: Washington CNN, Monetary, IMF, European Central Bank, Labor Department, Societe Generale, CNN, Reuters, Palantir Technologies, Tyson Foods, Marriott Worldwide, New York Fed, Disney, UBS, Duke Energy, Suncor, Bros, Minneapolis, Toyota, Uber, Anheuser, Busch InBev, Airbnb, Fox Corporation, News Corporation, Duolingo, Icahn Enterprises, New York Times Company, AMC Entertainment, Honda, Warner Bros Discovery, Warner Music Group, Hyatt, Hilton, Bank of England, US Labor Department, United Kingdom’s, National Statistics, University of Michigan, . Chicago Fed, China’s National Bureau of Statistics Locations: Europe, China, United States, Spain, France, Russia, Ukraine, Turkey, Israel, Gaza, Olesya, “ Turkey, Lyft, TripAdvisor

☆ What is divestment? And does it work?
▼ + stars: | 2024-04-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

From Princeton University in New Jersey to the University of Southern California in Los Angeles, the same chant can be heard: “Disclose! The specifics of student protesters’ divestment demands vary in scope from school to school. Other students, like those at Cornell University and Yale, are asking their schools to stop investing in weapons manufacturers. Other common threads include demanding universities disclose their investments, sever academic ties with Israeli universities and support a ceasefire in Gaza. Proponents for divestment counter that its value lies in raising awareness and stigmatizing partnerships with targeted regimes or industries.

Persons: “, ” Israel, Witold Henisz, Henisz, ”, Nicholas Dirks, ” Dirks, Dirks, “ They’ll, Anna Cooban, Michelle Bowman, Eli Lilly, Estee Lauder, Jerome Powell Organizations: New, New York CNN, Palestinian, Princeton University, University of Southern, Columbia University Apartheid, Columbia, Cornell University and Yale, Research, The Wharton School, University of Pennsylvania, CNN, University of California, Columbia’s Faculty of Arts and Sciences, Federal Reserve, European Central Bank, Dallas Fed, Samsung, AMD, Starbucks, Benz Group, Volkswagen, PayPal, adidas, Diamondback Energy, Restaurant Brands, Pinterest, Caesars Entertainment, PMI, Conference Board, Mastercard, Qualcomm, Pfizer, Marriott, eBay, US Commerce Department, Apple, Novo Nordisk, Shell, ConocoPhillips, Cigna, Universal Music Group, Hershey, US Labor Department Locations: New York, New Jersey, University of Southern California, Los Angeles, Columbia, Palestine, Israel, Gaza, South Africa, Berkeley, United States, Europe, DoorDash

☆ The Fed will be the main event in the week ahead that includes a jobs report, more tech earnings
▼ + stars: | 2024-04-26 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

On top of that, the latest U.S. jobs market scorecard will be released along with more mega-cap earnings. This week, the U.S. 10-year Treasury yield briefly climbed above 4.7% for the first time since November. That's down sharply from the six or seven rate cuts investors were anticipating coming into the year. April jobs Investors will also get an update on the labor picture next week, with the release of the April nonfarm payrolls report set for Friday. Corporate earnings season will also ramp up in the week ahead with a slew of consumer-facing companies set to report.

Persons: Stocks, Powell, David Alcaly, Jerome Powell's, we've, they're, Brian Nick, Matt Stucky, it's, Stucky, Dow Jones, Nick, Archer, Eli Lilly, Kraft, Estee, Ingersoll Rand, Stanley Black, Decker, Hershey Organizations: Nasdaq, Google, Microsoft, Treasury, Lazard Asset Management, Macro, Northwestern Mutual Wealth Management Company, Fed, Apple, Micro Computer, Dallas Fed, Paramount, ON Semiconductor, Chicago PMI, Prudential Financial, Devices, Storage, Diamondback Energy, Caesars Entertainment, Corning, Daniels, Midland, Molson Coors Beverage, Marathon Petroleum, GE Healthcare Technologies, PayPal, ADP, P Global, Manufacturing, Oil, MGM Resorts International, Allstate, Etsy, eBay, Qualcomm, MetLife, First, Devon Energy, Cruise Line Holdings, Brands, Marriott International, Kraft Heinz, Pfizer, Companies, CVS Health, Generac, Mastercard, Labor, Nation Entertainment, Booking Holdings, Natural Resources, Motorola Solutions, Expedia, EOG, Coterra Energy, Dominion Energy, Howmet Aerospace, ConocoPhillips, Moderna, PMI, Services PMI Locations: U.S, Chicago, McDonald's, Albemarle, EOG Resources

☆ 2024 NFL Draft: 5 quarterbacks taken in the top 10 of the NFL Draft for the first time ever
▼ + stars: | 2024-04-25 | by ( Ben Morse | ) edition.cnn.com time to read: +8 min

CNN —The 2024 NFL Draft has kicked off with the Chicago Bears selecting USC quarterback Caleb Williams with the first overall pick on Thursday night. Earlier Thursday, NFL spokesperson Brian McCarthy said on X 150,000 fans are in attendance at the draft. Here’s everything you need to know about the 2024 NFL Draft. How to watchThe 2024 NFL Draft will be held in Detroit across three days in the downtown area surrounding the Campus Martius Park and Hart Plaza. Pass-catching game-changersAccording to the NFL’s draft expert Daniel Jeremiah and his rankings of the 2024 draft prospects, three of the four best players are wide receivers, and 12 of the top 50 play the position.

Persons: Caleb Williams, Williams, Roger Goodell, Brian McCarthy, USC’s Williams, Kyler Murray, Tom Pennington, Justin Fields, Jayden Daniels, Daniels, Carolina’s Drake Maye, Maye, Lance Zierlein, shouldn’t, ” Daniels, Jonathan Bachman, Michael Penix Jr, JJ McCarthy, Bo Nix, Daniel Jeremiah, Marvin Harrison Jr, Pro Football Hall of Famer Marvin Harrison, Harrison Jr, Pro Bowler, Carmen Mandato, Zierlein, Rome, LSU’s Malik Nabers, Odunze, Larry Fitzgerald, Nabers, Justin Jefferson, Brian Thomas Jr, Adonai Mitchell, Xavier Worthy, Georgia’s Ladd McConkey Organizations: CNN, Chicago Bears, Bears, Hart, NFL Network, ESPN, ESPN2, ESPN Deportes, NFL, Heisman, USC, The Bears, Washington, LSU, New England Patriots, UNC, LSU Tigers, Atlanta Falcons, University of Washington, Minnesota Vikings, New York Jets, Michigan, Denver Broncos, Oregon, Pro Football Hall of Famer, Arizona Cardinals, Ohio State, Indianapolis Colts, New York Giants, of Famer, Getty, Los Angeles Chargers, Tennessee Titans, Las Vegas Raiders, New, New Orleans Saints, Seattle Seahawks, Jacksonville Jaguars, Cincinnati Bengals, Los Angeles Rams, Pittsburgh Steelers, Miami Dolphins, Philadelphia Eagles, Dallas Cowboys, Green Bay Packers, Tampa Bay Buccaneers, Buffalo Bills, Detroit Lions, Baltimore Ravens, San Francisco 49ers, Kansas City Chiefs Locations: Detroit, Baton Rouge, Texas, Carolina, New Orleans, Cleveland, Houston

☆ Investors are hoping Big Tech earnings next week could revive a flagging bull market
▼ + stars: | 2024-04-19 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The Big Tech earnings next week could revive a flagging market, or at least give investors direction into where stocks are going from here. Wall Street is hoping next week's megacap tech results will give investors insight into where the artificial intelligence trade is going from here, as a bounce in tech could lift the indexes. They're also hoping a slew consumer commentary will give investors insight into the state of the economy. However, he said any pullback in the tech names could give investors an opening to start "nibbling away" at additional exposure. Personal Income 10 a.m. Michigan Sentiment NSA final Earnings: T. Rowe Price Group , Colgate-Palmolive , Exxon Mobil , Chevron , AbbVie , Phillips 66

Persons: Tesla, They're, Kim Forrest, Elon Musk, Emily Leveille, Scott Ladner, Ladner, Horizon's Ladner, FactSet, Baker Hughes, Philip Morris, Lockheed Martin, Raymond James Financial, Rowe Price, Phillips Organizations: Big Tech, Google, Microsoft, Bokeh, Nasdaq, Investors, Deutsche Bank, Reuters, Thornburg Investment Management, Meta, Consumer, Visa, Chicago, Verizon Communications, Ameriprise, Truist, PMI, New, Richmond Fed, Enphase, Tesla, NextEra, Philip Morris International, Halliburton, United Parcel Service, PepsiCo, Lockheed, Raytheon Technologies, GE Aerospace, Grill, Business Machines, Lam Research, Ford Motor, Technology, Waste Management, Universal Health Services, Raymond, Boeing, Hilton Worldwide Holdings, . Kansas City Fed Manufacturing, Mobile, Capital, Financial Corp, Intel, Western Digital, Comcast, American Airlines Group, Southwest Airlines, Valero Energy, Caterpillar, Tractor Supply, Royal Caribbean Group, GE, PCE, NSA, Rowe Price Group, Colgate, Palmolive, Exxon Mobil, Chevron Locations: China, Europe, U.S, NextEra Energy, Freeport, McMoRan, . Kansas, Michigan, AbbVie

Learn moreThe final day of the 2024 NBA Play-in Tournament is here, and the Miami Heat and Chicago Bulls are scheduled to compete for a coveted spot in the Playoffs. We've compiled everything you need to know about tuning in to tonight's game, including where to watch the Miami Heat vs. Chicago Bulls live without cable. Where to watch Miami Heat vs. Chicago Bulls in the USThe Miami Heat vs. Chicago Bulls game will air at 7 p.m. For those without cable, it's time to check out a live TV package like Sling TV and Hulu + Live TV. Hulu + Live TV Hulu + Live TV includes over 90 channels, along with Hulu's on-demand library and access to Disney Plus and ESPN Plus.

Persons: We've, Hulu's, They're, ExpressVPN Organizations: Business, Miami Heat, Chicago Bulls, NBA, Miami, Eastern Conference, Boston Celtics, Chicago, ESPN, Hulu, Sling, Disney Plus Locations: Chicago

☆ World’s busiest airports: There’s a new No. 2
▼ + stars: | 2024-04-15 | by ( Marnie Hunter | ) edition.cnn.com time to read: +6 min

CNN —Globe-trotters are on the move again in a big way, boosting the rankings of a handful of international aviation hubs on the list of the world’s busiest airports. With 104.7 million passengers in 2023, Dubai’s not nipping at its heels just yet. Tokyo International Airport, commonly known as Haneda Airport, leapt up from No. Tokyo Haneda, Japan (HND): 78.7 million passengers; up 55.1% from 20226. Los Angeles, California (LAX): 75.1 million passengers; up 13.8% from 20229.

Persons: Atlanta’s, ”, Luis Felipe de Oliveira, de Oliveira, Dubai’s, Kamran Jebreili, Issei Kato, Indira, ” de Oliveira Organizations: CNN — Globe, Atlanta’s Hartsfield, Jackson International, “, ACI, Asia Pacific, Atlanta, Chicago, London Heathrow, Tokyo International Airport, Haneda Airport, Reuters, Indira Gandhi International, Air India, IndiGo, Boeing, Aircraft, Hartsfield, Jackson, United Arab Emirates, London, Tokyo, Chicago O’Hare Locations: Dubai, “ Dubai, East, Asia, Atlanta, United States, Dallas, Fort Worth, Denver, Los Angeles, London, Tokyo, Japan, Haneda, Reuters Istanbul’s, New Delhi, India, Jackson Atlanta , Georgia, United Arab, Fort Worth , Texas, DFW, London Heathrow, United Kingdom, Tokyo Haneda, Denver , Colorado, Istanbul, Turkey, Los Angeles , California, Chicago O’Hare , Illinois, ORD, Delhi

☆ Tesla is headed to trial, where a jury will soon decide whether it's to blame for a 2-year-old crashing a model X into his pregnant mom
▼ + stars: | 2024-04-14 | by ( Natalie Musumeci | Grace Kay | ) www.businessinsider.com time to read: +9 min

Read previewIs Tesla to blame for a toddler crashing his family's Model X SUV into his pregnant mother, injuring her? California mom alleges that the Tesla Model X was 'defective'In 2019, California mother Mallory Harcourt filed a lawsuit against Tesla over the incident, accusing it of negligence, consumer fraud, and product liability. "In no uncertain terms, Ms. Harcourt's own actions caused her injuries, and not any defect in Model X's design," Tesla's attorneys wrote. AdvertisementHarcourt's son "pressed the accelerator pedal, and the Model X moved forward slowly," the lawyers said. The Model X, the lawyers wrote in the brief, "functioned exactly as designed and very likely saved Ms. Harcourt's life."

Persons: —, Elon, Mallory Harcourt, Tesla, Harcourt, Santa Barbara, Getty, Mallory, Ms, Harcourt negligently, Tesla's, Harcourt's, Barrett Riley, Riley Organizations: Service, Business, Tesla, Santa, Chicago Tribune Locations: California, Santa Clara, Park, Florida

☆ Americans are savings less these days. Here’s why and what that means
▼ + stars: | 2024-04-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington CNN —Americans haven’t been stashing money into their savings accounts like they used to, according to government statistics. Put together, this may have resulted in “a structurally lower saving rate,” according to the report. What does the lower saving rate of nowadays say about the US consumer? Households are continuing to spend at these elevated rates and one reason is because of the lower saving rate. You’re just not seeing a reversal back to pre-Covid levels, which isn’t shocking when you look back historically to what has happened to the saving rate.

Persons: haven’t, “, Wells, Bell, Shannon Seery Grein, There’s, they’ve, we’ve, Matt Egan, ” Paul Knopp, Read, Goldman Sachs, Charles Schwab, Lorie Logan, Mary Daly, Johnson, Morgan Stanley, Jerome Powell, Loretta Mester, John Williams, Raphael Bostic, Austan Goolsbee Organizations: Washington CNN, Wells, KPMG, CNN, Gallup, T Bank, US Commerce Department, National Association of Home Builders, China’s National Bureau of Statistics, Johnson, Bank of America, PNC, The Bank of New York Mellon, Northern Trust, United Airlines, Federal Reserve, Abbott Laboratories, Discover, Citizens, Cleveland Fed, Taiwan Semiconductor Manufacturing, Netflix, Alaska Air, National Association of Realtors, Fed, US Labor Department, Procter & Gamble, American Express . Chicago Fed Locations: Wells Fargo, United States, Europe, UnitedHealth, Blackstone

☆ A millennial shared how her family is pursuing their American dream after moving from Scotland to Florida. She's enjoying the beaches and weather but finds Florida can be expensive.
▼ + stars: | 2024-04-07 | by ( Madison Hoff | ) www.businessinsider.com time to read: +11 min

Now her family is living their American dream in South Florida. Peacock's family is just one example of people pursuing the American dream, which can mean different things to different people, like achieving homeownership. Some Gen Zers see the American dream has changed from how older peers may have seen it. For us, the American dream is also the weather and the beach lifestyle, and we have that." "We're legally entitled to do the last stage from within the country, but it's a very complicated and lengthy process," Peacock said.

Persons: Amber Peacock, Peacock, we'd, didn't, Zers, She's, We've, we've, America Peacock, they're, We're, Brit Peacock, Aunty Bubs, they've, It's Organizations: Service, Business, Sunshine State, YouTube Locations: England, Scotland, South Florida, America, New York, Florida, Edinburgh, Lincolnshire, Memphis , Tennessee, Tennessee, Memphis, Nashville, Nashville , Tennessee, Texas, Chicago, West, East

☆ Stock futures are little changed after Dow's second straight losing day in new quarter: Live updates
▼ + stars: | 2024-04-02 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

U.S. stock futures were little changed Tuesday night after the Dow Jones Industrial Average fell for a second day in a rough start to the quarter. S&P 500 futures were lower by 0.02%, while the Nasdaq 100 futures dipped 0.02%. The S&P 500 lost 0.7%, while the Nasdaq Composite tumbled nearly 1%. The S&P 500 is coming off its best first quarter since 2019. "We've heard day after day that we're either touching all-time highs or within reach of all-time highs.

Persons: Dow, Kristen, We've, Jerome Powell, Michelle Bowman, Adriana Kugler, Austan Goolsbee, Michael Barr, Levi Strauss Organizations: New York Stock Exchange, Dow Jones, Dow, Federal Reserve, Treasury, Nasdaq, Citi, Federal, Fed, Chicago Fed

☆ I had the opportunity to move from Chicago to Texas on Facebook's dime. I got nervous and backed out — a decision I now regret.
▼ + stars: | 2024-03-14 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +8 min

I have a twin sister who I'm very close with, who said, "I'm going to Chicago," and I was like, "You know what? But once things started opening back up and the world started to become "normal" again, a lot of my friends left Chicago. When they hired me, they said I could work from one of two locations: either Austin, Texas, or Chicago. It's been almost two years or so and people are still commenting, "Texas didn't want you anyway." I haven't been back to Texas since I made my decision but I'm going in February for my cousin's birthday.

Persons: —, AW, I've, Austin, Ayahna Wilbon, wasn't, flack, It's, A.W, Wilbon, haven't, I'm Organizations: Service, Facebook, Business, Chicago, Texas, Austin, Dallas Locations: Chicago, Texas, There's, Austin , Texas, Austin, Dallas, Houston

☆ Here are this year's most competitive rental markets
▼ + stars: | 2024-02-27 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Still, all real estate is relative, and some apartment markets are hotter than others. A new report from RentCafe, another apartment search site, ranks the most competitive rental markets, with Miami topping the list for 2024. They have 14 prospective renters for each unit compared with the national average of seven, and the city's occupancy rate is 96.5%, compared with 93% nationally. The option of remote work has also sent more people to the region, but the supply of apartments there is dwindling, making it more competitive. While rental supply is rising, demand is sustaining thanks to the short supply of homes for sale in today's market and rising mortgage rates.

Organizations: Miami, CNBC PRO Locations: RentCafe, Miami, Milwaukee, Chicago, Grand Rapids , Michigan, Midwest

☆ How America’s once great department stores became a dying breed
▼ + stars: | 2024-02-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +12 min

But department stores, focused on America’s middle class, are fading. The victims of shifting consumer tastes were not the department stores that anchored the local mall, it was the small, locally owned stores along downtown shopping districts that were closing their doors. And possibly even more than the big box competitors, department stores have suffered from consumers shifting to buying items online rather than in person. The steady closing of the department stores that once served as “anchors” of malls across suburban America has been another nail in the coffin of many malls, hurting the department stores that remained in hollowed-out malls with a fraction of their earlier traffic. Saunders said one of the primary problem for Macy’s is that its holding company, formerly known as Federated Department Stores, spent much of its resources on buying other department store brands, such May’s Department Stores, and Filene’s, rather than investing in the stores its held.

Persons: New York CNN —, Neil Sauders, ”, JC Penney, It’s, “, Neil Saunders, Shannon Stapleton, Saunders, ” Saunders, Al Bello, Sunny Zheng, Macy’s, Tony Spring, Taylor, Brian Snyder, Eddie Lambert, Michael Brown, Kearney, ” Brown, Mike Segar, Richard W, Sears, Alvah Roebuck, Sears Roebuck, Bettmann, PhotoQuest, Jack Manning, Frank Scherschel, Owen, Lucille Jagusch, Arlene Hardt, Martin Luther King Jr, Michael Ochs, Ron Frehm, Ralf, Finn Hestoft, Mark Peterson, Seth Meyers, Hugh Jackman, NBCUniversal, Kaylin Wilson, Jim Cole, Rene Johnston, Maria Alejandra Cardona, Scott Olson, Cesar Villasenor, Mel Melcon, Sarah Blesener, Paul Hennessy, Patti Naleck, Naleck, Stacey Wescott, Brown Organizations: New, New York CNN, American, Walmart, Company, Department, Sears, Target, GlobalData, JCPenney, Research, RadioShack, Reuters Sears, Federated Department Stores, May’s, Reuters, Chicago History, Sears Roebuck, Roebuck, Hulton, AP, AP Soldiers, Michael Ochs Archives, Getty, Bettmann, Kmart, Bloomberg, Toronto Star, Reuters Residents, Los Angeles Times, New York Times, Chicago Tribune, Tribune, Service Locations: New York, GlobalData, America, Nanuet , New York, North Redwood , Minnesota, Chicago, El Paso , Texas, Jackson , Mississippi, Tucson , Arizona, Caracas, Venezuela, Niles , Illinois, Morton Grove , Illinois, Baltimore, White Plains , New York, Woodfield , Illinois, Hicksville , New York, Nashua , New Hampshire, Mentor , Ohio, Mississauga , Ontario, Hialeah , Florida, Janesville , Wisconsin, Santa Monica , California, Rockaway , New Jersey, Leesburg , Florida, Schaumburg , Illinois

☆ I was laid off from Rivian after surviving 3 earlier layoffs. It was almost a relief when it was over.
▼ + stars: | 2024-02-25 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

One laid-off worker said it was their fourth round of layoffs at Rivian, but anxiety was still high. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThis as-told-to essay is based on a conversation with a former Rivian employee who was laid off Thursday and spoke anonymously to protect their privacy. This is the fourth round of layoffs I've experienced at Rivian, so I'm a little bit jaded at this point. As much as I loved working for Rivian — I thought the culture was great, the people were fantastic, and the pay was really good — layoffs felt constant.

Persons: Rivian, they'd, —, I've, messaged, I'm, It's, We'd, it's Organizations: Service, Chicago Tribune, Ford, Amazon, Gado, Rivian, Business Locations: Rivian, R1S

☆ Wall Street will try to maintain AI-fueled momentum in the final week of February, as inflation concerns linger
▼ + stars: | 2024-02-23 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

In the final week of February, Wall Street will strive to maintain its AI-fueled rally even as economic concerns linger and the Federal Reserve's favorite inflation measure is on deck. But many worry the writing is on the wall for these market leaders as economic and inflation risks linger. The 'lone cloud' of inflation The Fed's preferred inflation gauge will also be released in the week ahead. Investors are concerned that sticky inflation will mean that the Fed will hold onto its higher-for-longer interest rate policy. Next week will also be the final week of February, with stocks headed for another strong month of gains.

Persons: Goldman Sachs, Patrick McDonough, Europe's, PGIM's McDonough, McDonough, Charlie Ashley, Dhaval Joshi, Joshi, Ashley, John Williams, TJX Cos Organizations: Dow Jones Industrial, Nasdaq, Nvidia, Japan's Nikkei, Catalyst Funds, BCA Research, CPI, PPI, Dow, New, Dallas Fed, Fidelity National Information Services, Richmond Fed, eBay, Enterprise, Cruise Line Holdings, New York Federal Reserve Bank, York, Monster Beverage, Paramount Global, PCE Deflator, Chicago PMI, . Kansas City Fed Manufacturing, Hewlett Packard Enterprise, Autodesk, Body, Hormel, PMI, Manufacturing Locations: U.S, Lowe's, Chicago, . Kansas, Michigan

☆ A US productivity boom may explain how inflation slowed amid a strong economy
▼ + stars: | 2024-02-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

If productivity is strong, that means the US economy is doing more with less, or being more productive. Productivity is measured by dividing all the goods and services produced in the economy by every hour people worked. “But the economy did well, so that translated into higher productivity, supporting higher wage growth and fending off inflation from accelerating.”Last year’s productivity boom could also be a combination of all of the above. Still, it may be too soon to know if last year’s productivity burst was truly a transformative shift in the US economy. “Sometimes at the very end of an economic cycle, productivity can be boosted by cost-saving measures,” Goodwin of New York Life Investments said.

Persons: ” Lauren Goodwin, Mark Zandi, John Min, Austan Goolsbee, It’s, ” Min, ” Goodwin, ” Organizations: DC CNN, Labor Department, New York Life Investments, CNN, Microsoft, Meta, Citigroup, Monex, Federal Reserve, Chicago Fed, Bloomberg Locations: Washington

☆ Despite Japan’s economic recession, Asian stocks rise
▼ + stars: | 2024-02-16 | by ( Diksha Madhok | Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong/New Delhi CNN —Japan’s stock market defied gloomy economic data to rally Friday, lifting broader Asian shares and ending the week on a buoyant note. Japan’s benchmark Nikkei 225 index closed above 38,000 points for the second day in a row, just a whisker off its historic peak reached in December 1989. “If anything, the window of opportunity created by the weak yen is encouraging international investors, as they suspect it will close soon,” he added. The MSCI’s broadest index of Asian shares excluding Japan closed more than 1% higher. On Wall Street, the S&P 500 closed at a record high of 5,029.73 Thursday as US stocks bounced back from steep losses earlier this week.

Persons: ”, Neil Newman, Stephen Innes, Austan Goolsbee, Innes, Korea’s Organizations: Hong Kong / New Delhi CNN, Analysts, Japan, Dow, Nasdaq, Federal Reserve, Fed, Chicago Fed Locations: Hong Kong / New Delhi, Tokyo, United Kingdom, Asia, Pacific, New York, China

☆ Nvidia earnings, Fed minutes on deck next week as Wall Street assesses interest rate outlook
▼ + stars: | 2024-02-16 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

The Dow Jones Industrial Average, S & P 500 and the Nasdaq Composite each snapped a five-week advance. On average, market strategists on Wall Street anticipate the S & P 500 will end the year at 4,936, according to a CNBC survey . The equal-weighted S & P 500 index is up just 1.7% in 2024, trailing far behind the market-cap weighted benchmark. Initial Claims (02/17) 9:45 a.m. PMI Composite preliminary (February) 9:45 a.m. S & P PMI Manufacturing preliminary (February) 9:45 a.m. S & P PMI Services preliminary (February) 10 a.m. Existing Homes Sales (January) Earnings: Booking Holdings , Live Nation Entertainment , Intuit , Edison International , Dominion Energy , Moderna , PG & E , Keurig Dr. Pepper Friday, February 23, 2024 Earnings: Warner Bros.

Persons: chipmaker, Ayako Yoshioka, Yoshioka, Jerome Powell, Josh Emanuel, everybody's, Emanuel, Russell, They're, Chris Chen, Chen, Dr, Pepper, Nick Wells, Kif Leswing Organizations: Nvidia, CNBC, Dow Jones, Nasdaq, Federal Reserve, Investor, Treasury, Wilshire Associates, American Association of, Insight Financial, Walmart, Home, Alto Networks, Diamondback Energy, Caesars Entertainment, Marathon, Devices, Chicago, PMI, Holdings, Nation Entertainment, Intuit, Edison International, Dominion Energy, Moderna, Warner Bros Locations: U.S, Santa Monica, Calif

Officials at Lurie Children's Hospital said Thursday that they are still working with the FBI and other law enforcement but told reporters that a “known criminal threat actor” had accessed the hospital's network. The hospital shut down its own systems for phone, email and medical records once the breach was discovered on Jan. 31, officials said. “This is an active and ongoing investigation.”The situation at Lurie Children’s Hospital had all the hallmarks of a ransomware attack, although hospital officials have not confirmed or denied the cause. The latest annual report for Lurie Children’s said staff treated around 260,000 patients last year. Chicago-area pediatrician practices that work with the hospital also have reported being unable to access digital medical records because of the attack.

Persons: ”, “, Marcelo Malakooti, Allan Liska, Lurie, ” Liska, ” Malakooti, Brett Callow, Emsisoft, Lurie Children’s Organizations: CHICAGO, Lurie Children's, FBI, Lurie Children’s Hospital, Associated Press, U.S . Department of Health, Human Services Locations: Chicago

CHICAGO (AP) — A Chicago children's hospital has been forced to take its networks offline after an unspecified digital attack, limiting access to medical records and hampering communication by phone or email since the middle of last week. Lurie Children's Hospital initially described the issue Wednesday as a network outage. On Thursday, officials released public statements saying the hospital had taken its networks offline as part of its response to a “cybersecurity matter." Health care providers aren't alone; state courts, county or state governments and schools all have struggled to recover from cyber-based attacks. Chicago-area pediatrician practices that work with the hospital also have reported being unable to access digital medical records because of the attack.

Persons: Lurie, ransomware, Lurie Children's Organizations: CHICAGO, Lurie Children's, “, Media, Associated Press, Department of Health, Human Services Locations: Chicago, “ As Illinois

Maura Healey and Boston Mayor Michelle Wu toured a recreational complex Wednesday hours ahead of its planned opening as a temporary shelter site for families experiencing homelessness, including migrants. Healey said about 75 individuals were expected to arrive at the Cass Recreational Complex, located in the city’s Roxbury neighborhood, before the end of the day. The complex can provide temporary shelter for up to 400 people, or about 100-125 families, as the state continues to grapple with an influx of homeless migrants. Photos You Should See View All 45 ImagesThere are also smaller emergency shelter sites in about 90 communities. People can actually wash," she said, referring to the Cass Recreational Complex.

Persons: Maura Healey, Michelle Wu, Healey, “, ”, Wu, Biden, Boston isn't, Clifton A, Braithwaite, ” Audra White, Cass, Brandon Johnson, Johnson, Sophia Tareen Organizations: BOSTON, —, Boston, Cass Recreational, “, Cambridge, Logan International, Cass, Associated Press Locations: — Massachusetts, Cass, Roxbury, Massachusetts, Revere, Quincy, Boston, “, Clifton, Logan, Chicago, O’Hare

EDMONTON, Alberta (AP) — Connor McDavid had two goals and an assist, backup Calvin Pickard made 27 saves for his fifth career shutout and the Edmonton Oilers won their 15th straight game with a 3-0 victory over the Chicago Blackhawks on Thursday night. Zach Hyman also scored and Leon Draisaitl had three assists for the Oilers, who are just the fifth team in NHL history to win 15 or more consecutive games. The Oilers are 23-3-0 in their last 26 games and have gone a franchise-record 13 consecutive games allowing two or fewer goals. Petr Mrazek stopped 31 shots for the Blackhawks, who have lost 19 consecutive road games (0-18-1). Entwistle attempted to send his shot through Pickard’s legs, but the Oilers goalie stopped him.

Persons: — Connor McDavid, Calvin Pickard, Zach Hyman, Leon Draisaitl, Petr Mrazek, Draisaitl, Mackenzie Entwistle, Vincent Desharnais, Entwistle, McDavid, Hyman, Sam Gagner, ___ Organizations: Edmonton Oilers, Chicago Blackhawks, Oilers, Pittsburgh Penguins, Blackhawks, Edmonton, Chicago, McDavid, Columbus, The New York Islanders, Penguins, Blue Jackets, UP NEXT Blackhawks, Calgary Flames, Saturday, Nashville Predators Locations: EDMONTON, Alberta, Chicago, McDavid

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