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☆ Met Gala 2024: Everything we know about the theme, hosts and guests
▼ + stars: | 2024-05-06 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +9 min

Bad Bunny, Jennifer Lopez, Chris Hemsworth and Zendaya will co-chair this year's Met Gala for the exhibition "Sleeping Beauties: Reawakening Fashion." The first celebrities to appear will be Gala co-chairs Zendaya, Jennifer Lopez, Bad Bunny and Chris Hemsworth, the last of whom is making his Met Gala debut. What was the first Met Gala theme? Gwyneth Paltrow famously called the Met Gala “un-fun” in 2013 and said she’d “never” go again, but returned in 2017 (and 2019). Met Gala guests have often broken the no-social-media rule to give a more candid glimpse of who is hanging with who and what goes on behind closed doors.

Persons: CNN —, —, Jared Leto’s, Rihanna, J.G, Ballard, Andrew Bolton, Bunny, Jennifer Lopez, Chris Hemsworth, Zendaya, James Devaney, Victor Aubry, Christina House, Neil Mockford, Bad Bunny, Anna Wintour, Wintour, Arturo Holmes, Karl Lagerfeld, Rei Kawakubo, Charles James, Christian Dior, Alexander McQueen, Gianni Versace, Angela Weiss, Lagerfeld, Anne Hathaway, Nicole Kidman, Jenna Ortega, Chanel, Fendi, Eleanor Lambert, Diana Vreeland, LaunchMetrics, Calvin Klein, “, ” Cher, Ron Galella, ”, Lady Gaga, Kardashian, Jenners, Donald Trump, James Corden’s, Demi Lovato, Zayn Malik, Tina Fey, Fey, David Letterman ”, backtrack, Gwyneth Paltrow, she’d “, Olivia Wilde, Margaret Zhang, Kevin Mazur, Bella Hadid, Dakota Johnson, Jason Derulo, Jay, Solange, it’s, ” Wilde Organizations: CNN, Metropolitan Museum of Art, Costume Institute, Los Angeles Times, American Vogue, New York Times, Getty, Super, Hollywood, Vogue, “ Vogue China Locations: New York, British, American, China

☆ Gold subdued as traders ready for Fed rate verdict
▼ + stars: | 2024-05-01 | by ( ) www.cnbc.com time to read: +1 min

Gold prices struggled for momentum on Wednesday as investors refrained from taking big positions ahead of a U.S. Federal Reserve policy decision that could offer for more cues on its rate-cut timeline. U.S. gold futures were down 0.2% at $2,298.30 per ounce. The Fed is expected to hold its benchmark interest rate steady at 5.25% to 5.5%. Gold is known as an inflation hedge but elevated interest rates reduce the appeal of holding the non-yielding asset. Among other metals, spot silver rose 0.2% to $26.32 per ounce and platinum inched up 0.2% to $935.10.

Persons: Edward Meir, Jerome Powell, Powell, Meir Organizations: U.S, Federal, Focus, Labor, Palladium

☆ Trump is reportedly annoyed by Kari Lake's frequent Mar-a-Lago jaunts
▼ + stars: | 2024-04-29 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +2 min

Kari Lake is the all-but-certain GOP nominee in Arizona, a key battleground state this cycle. AdvertisementDemocrats have long pointed out Arizona GOP Senate candidate Kari Lake's frequent out-of-state travel. According to the Washington Post, the former president is annoyed by Lake's frequent jaunts to Mar-a-Lago, Trump's resort and political home base in Palm Beach, Florida. While not the most important Senate race this cycle — Republicans have generally focused more on unseating incumbent Democratic senators in Ohio and Montana — Lake's race still matters. On a semi-regular basis, the Arizona Democratic Party has sent out newsletters entitled "Where In The World Is Kari Lake?"

Persons: Kari Lake, she's, Trump, —, Kari Lake's, Donald Trump, Lake's, Ruben Gallego, Lake, backtrack Organizations: GOP, Service, Arizona GOP, Washington Post, Democratic, Republicans, Trump, Lake, Fearless, WIN, Post, Senate, Arizona Democratic Party, Republican Locations: Arizona, Mar, Palm Beach , Florida, Ohio, Montana, Idaho, Lake

☆ Opinion: In a two-issue election, Biden should act now on immigration
▼ + stars: | 2024-04-19 | by ( Fareed Zakaria | ) edition.cnn.com time to read: +5 min

CNN —Bill Maher recently said on his show that the 2024 election was going to be fought over two issues: immigration and abortion. Each party has an advantage, the Democrats on abortion and the Republicans on immigration. Now, it’s abortion rights voters who are energized, fueled by states like Arizona that are putting in place draconian restrictions on abortion. With the margins small in many swing states, abortion could be the issue that brings out suburban women, who could tilt those states blue in November. Joe Biden needs to be caught trying to solve the immigration crisis.

Persons: Fareed Zakaria, Fareed, Read, Bill Maher, Roe, Wade, Donald Trump, Trump, Joe Biden, don’t, Biden, Alejandro Mayorkas, Bill Clinton Organizations: CNN, Fareed’s, Republican Party, Republican, Trump, US, EU, Homeland, Democratic, Senate, National Guard Locations: Arizona, America, Sweden, United States, New York City, El Paso, Stockholm, Europe

CNN —Brazilian superstar Vinícius Jr. broke down in tears in an emotional media conference on Monday while speaking about his experience with racist abuse while playing for Real Madrid in Spain. This comes after a series of instances of racism that have been directed towards Vinícius in Spain. Racist slurs have also been caught on camera during Real’s matches at Osasuna, Mallorca, Real Valladolid and Atlético. Notably, some Spanish journalists say Vinícius has only himself to blame for the abuse he’s received. Aitor Alcalde/Getty ImagesDespite the criticism that Vinícius has received in Spain, many in other countries remain firmly in support of the talented Brazilian.

Persons: Vinícius Jr, “, ”, Vinícius, Spain, –, Pierre, Philippe Marcou, I’ve, he’s, Jude, Eduardo, Camavinga, David Bernabeu, Javier Tebas, backtrack, ” Vinícius, Aitor, Troy Townsend, ‘, ’ ” Townsend, Rio Ferdinand, @vinijr Organizations: CNN, Real Madrid, Spain, Estadio Santiago Bernabeu, Reuters, Valencia, Atlético Madrid, Osasuna, Real, Getty, Liga, CNN Sport, Royal Spanish Football Federation, ESPN, Estadio Mestalla, Aitor Alcalde, ” Former Manchester United Locations: Spain, Madrid, Vinícius, Mallorca, Real Valladolid, Atlético, AFP, Bellingham, Rodrygo, ESPN Brazil, British, England

☆ '3 Body Problem' doesn't have 'Game of Thrones'-level nudity — but it does have one groundbreaking nude moment
▼ + stars: | 2024-03-25 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +4 min

Read previewIf you're looking for nudity on par with HBO's "Game of Thrones" in the new Netflix series "3 Body Problem," you're not going to find it. That's certainly not bad — "3 Body Problem," at the moment, isn't a show that would be particularly well-served by nudity for the sake of it. Soldiers pass rolled up body after body down a line, tossing them into a body of water. "And working with the VFX team, and really knowing, 'Okay, when is the VFX team going to step in and recreate that, and when is it the responsibility of the prosthetics team to build the dried-up skin?'" "3 Body Problem" is now streaming on Netflix.

Persons: —, HBO's, Liu Cixin's, David Benioff, Weiss, Alexander Woo, That's, We've, it's, Derek Tsang, you've, Tsang, Jin Cheng, Jess Hong, Let's, she's, dehydrate, dehydrates, rehydrating Organizations: Service, Netflix, Business

☆ Lauren Boebert brags about securing $20 million in funding that she voted against: 'Can't wait for the ribbon cuttings'
▼ + stars: | 2024-03-19 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Rep. Lauren Boebert voted against a bill containing $20 million for the district she's abandoning. "Can't wait for the ribbon cuttings and to see these priorities come to fruition," she said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementEarlier this month, Rep. Lauren Boebert voted against a must-pass government funding bill that contained more than $20 million for the Colorado district she's now abandoning. AdvertisementBoebert was among 40 House Republicans who voted on March 6 against the so-called "minibus" — which funds vast swaths of the federal government — despite having secured federal funding for their districts.

Persons: Lauren Boebert, —, Boebert, Sleepy Joe, Nancy Pelosi —, It's, it's, she's, Ken Buck's, who's Organizations: Service, Republicans, Green, Deal, Green New, GOP, Rep Locations: Colorado, Wolf

☆ Hong Kong’s New Security Legislation Took Decades to Pass. Here’s What to Know.
▼ + stars: | 2024-03-19 | by ( Mike Ives | ) www.nytimes.com time to read: +1 min

Hong Kong passed national security legislation on Tuesday, giving officials in the Chinese territory more power to curb dissent, 21 years after mass protests forced the government to backtrack on a plan to introduce such laws. The security legislation is another significant erosion of freedoms in a former British colony once known for its freewheeling politics and relative autonomy from China. It also highlights how weak Hong Kong’s once-boisterous civil society and political opposition have become over the past four years. Here’s how Hong Kong got here and what’s in the law. But it also called for the eventual passage of national security laws to replace colonial ones the British were leaving behind.

Persons: Hong Kong’s Locations: Hong Kong, British, China

☆ Dollar General will remove self-checkout from 300 stores to prevent shoplifting
▼ + stars: | 2024-03-14 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

The company is pulling out self-checkout stands in 300 stores that have the highest levels of shoplifting and merchandise losses. In 9,000 other stores, Dollar General is converting some or all of its self-checkout registers to regular checkout with cashiers. And in another 4,500 or so stores, Dollar General is limiting self-checkout to purchases of five items or less. Vasos said Dollar General made the decision after using artificial intelligence to analyze hundreds of thousands of purchases at self-checkout. Like other retailers, Dollar General bet self-checkout would reduce its labor costs and speed up checkout for customers.

Persons: Todd Vasos, Vasos, ShopRite Organizations: New, New York CNN —, Walmart, Target, cashiers Locations: New York, United States, Britain, British, New Mexico, Delaware

☆ Shell waters down 2030 carbon emissions target in latest fossil fuel industry backslide
▼ + stars: | 2024-03-14 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Fossil fuels are the main driver of the human-caused climate crisis, and science shows deep, sustained reductions to emissions are required this decade. In an annual update on its energy transition strategy on Thursday, Shell said it will target a 15-20% reduction in net carbon intensity of its energy products by 2030 compared with 2016 intensity levels. Measuring emissions by intensity means a company can technically increase its fossil fuel output and overall emissions while using offsets or adding renewable energy or biofuels to its product mix. The company retired a previous target to reduce its carbon intensity by 45% by 2035. Shell also maintained its target to halve emissions from its own operations, known as Scope 1 and 2 emissions, by 2030, saying it had already achieved more than 60% of that target.

Persons: Shell, Wael Sawan’s, “, ”, Backtrack, Mark van Baal, ” Shell Organizations: CNN Locations: “, Paris, Singapore, Germany

☆ GOP lawmakers and candidates race to distance themselves from Alabama court decision
▼ + stars: | 2024-02-23 | by ( Lauren Fox | Melanie Zanona | ) edition.cnn.com time to read: +6 min

A number of congressional Republicans running in 2024 are swiftly distancing themselves from a controversial Alabama Supreme Court ruling seen as infringing on IVF, the latest obstacle for GOP candidates in the post-Roe era. IVF allowed me, as it has so many others, to start my family,” California Republican Rep. Michelle Steel, who represents a district carried by Biden, said on X. On the campaign trail though, the National Republican Congressional Committee is trying to help candidates navigate what is emerging as a tricky political moment. The memo tells candidates to “express support for IVF” and “oppose restrictions” on the procedure. Even some conservatives are going out of their way to express support for IVF and distance themselves from the Alabama ruling.

Persons: Michelle Steel, Biden, “, Don Bacon, Republicans ’, Roe, Wade, Mike Berg, Larry Hogan, Dave McCormick, ”, Sen, Tommy Tuberville, Mike Lawler, Nick LaLota, Nancy Mace, Matt Gaetz, CNN’s Abby Phillip, Kat Cammack, ” Cammack Organizations: Democratic, GOP, ” California Republican, ” Republican, Republicans, National Republican, National Republican Senatorial Campaign, CNN, Republican Senate, Maryland Gov, US, NBC, ”, Republican, New York Republican, Biden, Republican Party, Women’s Caucus, Florida Republican Locations: Alabama, ” California, Nebraska, Pennsylvania, New York, South Carolina, Florida

The state Supreme Court's brief order Tuesday shutting down the suit said legislators have fulfilled promises of annual increases in aid to the state's 286 local school districts as outlined in a 2019 law. But closing the case gives the Legislature more leeway on school funding issues in the short term. Educators who feel legislators aren't providing enough money or distributing it fairly enough were able to take their complaints directly to the state Supreme Court while the case was open. Four school districts sued the state in 2010, and the Supreme Court issued seven rulings from 2010 to 2019. The first six told lawmakers that they needed to increase spending or distribute the money more fairly or both.

Persons: backtracked, Vic Miller, Eric Rosen, ” Leah Fliter, Laura Kelly, Kelly, “, Dan Hawkins, Sen, Molly Baumgardner, Kris Kobach, Kobach, ” Kobach, Alan Rupe, ” Organizations: Republican, GOP, Republicans, Kansas House, Kansas Association of School, Democratic Gov, Wichita Republican Locations: TOPEKA, Kan, Kansas, —, Wichita, Kansas City

☆ The world's 2 biggest economies are moving in starkly different directions
▼ + stars: | 2024-01-31 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. AdvertisementMeanwhile, on Monday, a Hong Kong court ordered the liquidation of China Evergrande, the world's most indebted real estate developer. "I expect that the Chinese market will bounce around, but that the bias is towards more pain since the problems are systemic in my opinion," Laffer Jr. said. "The US on the other hand should do well for the 2024 period — strong economy, strong employment, strong earnings, strong dollar."

Persons: —, That's, Arthur Laffer Jr, Laffer, Xi Jinping, Joseph Seydl, you've, Seydl, didn't, Alfredo Montufar, Helu, China Evergrande Organizations: Service, Real, Business, International Monetary Fund, Investments, JPMorgan Private Bank, Conference Board's China Center, CSI, Bloomberg Locations: China, US, Beijing, backtrack, deleverage, Hong Kong

☆ Central bank blunders undermine tough rate talk
▼ + stars: | 2023-12-05 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Comments by central bankers underline their desire to keep interest rates high until price growth quiesces. Policymakers’ recent mistakes mean they will struggle to convince investors their tough talk is real. U.S. Federal Reserve Chair Jay Powell says his fellow policymakers are “not thinking about rate cuts at all”. In May, after another U.S. regional bank failure, markets concluded that the Fed’s rate hike at the beginning of that month would be its last. Respected central bankers might be able to convince markets that these numbers don’t portend imminent rate cuts.

Persons: Jay Powell, Christine Lagarde, Andrew Bailey, Powell, backtrack, –, Lagarde, Treasuries, BoE, Bailey, Ben Bernanke, Jacob Frenkel, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, Traders, U.S . Federal, European Central Bank, Bank of England, titans, Deutsche Bank, Treasury, Reuters Graphics Reuters, LSEG, Silicon Valley Bank, Fed, ECB, Bank of Israel, Federal Reserve, European, Thomson Locations: Silicon, Bailey, United States, Ukraine, Central

☆ Britain's Sunak tries to reclaim climate narrative with $2 bln pledge
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

Britain's Prime Minister Rishi Sunak delivers a speech during a press conference on the net zero target, at the Downing Street Briefing Room, in central London, on September 20, 2023. Running way behind the opposition Labour Party in the polls before a national election expected next year, Sunak's team believes voters will only support measures to tackle climate change when, or if, they are affordable. But the time for pledges is now over – this is the era for action," Sunak said in a statement. "The transition to net zero should make us all safer and better off. ($1 = 0.7911 pounds)For daily comprehensive coverage on COP28 in your inbox, sign up for the Reuters Sustainable Switch newsletter here.

Persons: Rishi Sunak, Sunak's, Sunak, King Charles, Elizabeth Piper, Miral Organizations: Britain's, Downing, Labour Party, Reuters, Thomson Locations: London, DUBAI, Dubai, Africa, Asia

☆ ‘Backtracking:’ A year of climate failures ahead of a crucial summit
▼ + stars: | 2023-11-30 | by ( Laura Paddison | ) edition.cnn.com time to read: +11 min

And yet, even as the climate crisis inserts itself viscerally into people’s lives, experts say the year has seen alarming backsliding on climate action. Green policies have been watered down, huge new oil and gas projects have been greenlit and coal has had something of a resurgence. As countries gather in Dubai for the UN’s COP28 climate summit, there are “high expectations,” said Harjeet Singh, the head of global political strategy at nonprofit Climate Action Network International. It sent worrying signals about climate backtracking, said Elisa Giannelli, a senior policy advisor at climate think tank E3G. Around 50% of its total capital spending needs to go toward clean energy projects by 2030, according to the report.

Persons: ”, Harjeet Singh, Kaveh Guilanpour, Singh, Biden, “, Erik Grafe, Joe Biden, Countess, Norway —, Elisa Giannelli, “ It’s, Rishi Sunak, Joeri Rogelj, Flora Champenois, It’s, Bernd Lauter, ” Rogelj, Darren Woods, Bernard Looney, Fatih Birol, Guilanpour, Claire Fyson, ” Fyson, “ we’re, ” CNN’s Ella Nilsen, Ivana Kottasová, Gan Organizations: CNN, United Nations, Action, “, Climate, Energy Solutions, US Department of Interior, Imperial College London, Global Energy Monitor, GEM, Getty, BP, Chevron, ExxonMobil, Shell, Exxon, IEA, Climate Analytics Locations: Canada, Libyan, Dubai, Alaska, Washington ,, Australia, Norway, Europe, Germany, China, Asia, Ukraine, Eschweiler, COP28

☆ Elon Musk thinks OpenAI may have made a dangerous discovery — and that's behind the Sam Altman drama
▼ + stars: | 2023-11-29 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Elon Musk said he's concerned OpenAI discovered a "dangerous element" of AI. The billionaire said he has "mixed feelings" about OpenAI CEO Sam Altman. AdvertisementElon Musk has some theories about why Sam Altman was initially ousted from OpenAI. Musk added that he wanted to know why OpenAI cofounder and chief scientist Ilya Sutskever "felt so strongly as to fight Sam. "He really sweats it over questions of what is right," Musk told Sorkin.

Persons: Elon Musk, OpenAI, Sam Altman, Musk, —, Andrew Sorkin, Sam, Ilya Sutskever, they've, It's, Altman, Kali Hays, he'd, Sutskever, backtrack, Sorkin, Ilya, OpenAI's ChatGPT Organizations: Service, OpenAI, CNBC

☆ The Winners and Losers of OpenAI’s Wild Weekend
▼ + stars: | 2023-11-20 | by ( Kevin Roose | More About Kevin Roose | ) www.nytimes.com time to read: +1 min

Things are shifting quickly, and there is plenty we still don’t know — including the reason the board decided to fire Mr. Altman in the first place. It was in the middle of a tender offer that would have allowed employees to cash out their stock at an eye-watering valuation, and its cutting-edge A.I. The tender offer may fall apart. OpenAI’s board may be satisfied with this outcome — after all, the board chose it, even after being given a chance to backtrack. But it looks silly for not explaining why it fired Mr. Altman, and until it shares more information, it’s hard to imagine the rank-and-file falling in line.

Persons: Altman Organizations: Microsoft, Mr Locations: ChatGPT

☆ Here's why it 'doesn't make financial sense' for Americans living abroad to give up their U.S. citizenship, one expert says
▼ + stars: | 2023-11-10 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

"It typically doesn't make financial sense, and there's a few reasons why," said Italy-based Alex Ingrim, a financial advisor at Chase Buchanan Wealth Management. While there may be some instances where "the pain of being American" arises in the tax liability, "you're very rarely double-taxed" as an American, Ingrim said. Similarly, if you earn Portuguese income and pay Portuguese income taxes, you will get some credits on your U.S. filing for taxes paid overseas, according to Boudreaux. However, they still have the U.S. tax liability. "For those people, it's a pain, and [they] opt for giving up their citizenship to avoid paying taxes," Ingrim said.

Persons: Alexander Spatari, Alex Ingrim, Ingrim, Jude Boudreaux, expats, Boudreaux, Jordi Mora Igual Organizations: Chase Buchanan Wealth Management, Planning, Social, CNBC FA Locations: Italy, New Orleans, U.S, Portugal, Monaco, Dubai

☆ Netanyahu appears to backtrack on reported comment linking Hamas attack to reservist protest
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

Israeli Prime Minister Benjamin Netanyahu attends a meeting with U.S. President Joe Biden (not pictured) and the Israeli war cabinet, during Biden's visit to Israel, amid the ongoing conflict between Israel and Hamas, in Tel Aviv, Israel, October 18, 2023. But after public backlash, Netanyahu posted on X that Hamas started a war "because it wants to kill us all and not because of any argument within us." Earlier, Benny Gantz, who joined Netanyahu's war cabinet from the opposition as part of an emergency government, said Netanyahu must retract his comment. in a public display of anger at the failures that led to last month's deadly attack by Hamas gunmen on Israeli communities around the Gaza Strip. The protest, which coincided with a poll showing more than three quarters of Israelis believe Netanyahu should resign, underlined the growing public fury at their political and security leaders.

Persons: Benjamin Netanyahu, Joe Biden, Evelyn Hockstein, Netanyahu, Benny Gantz, Gantz, Ari Rabinovitch, Andrew Heavens Organizations: U.S, Hamas, REUTERS, Rights, Israel's, Thomson Locations: Israel, Tel Aviv, Gaza

☆ Where does Speaker Mike Johnson sleep when he's in DC? Most likely in his Capitol Hill office
▼ + stars: | 2023-11-03 | by ( Bryan Metzger | Jack Newsham | ) www.businessinsider.com time to read: +7 min

Speaker Mike Johnson is less wealthy than most lawmakers and doesn't appear to have a DC residence. But where does the man who just recently ascended to the next spot in the line of succession sleep when he's in Washington, DC? Most likely in his small congressional office on the unglamorous, fluorescent-lit fifth floor of the Cannon House Office Building, according to several lawmakers and a long-time friend of Rep. Mike Johnson, the new speaker of the House. There are likely dozens of lawmakers sleeping in their offices each night, and some well-known former House members have been known to do it, including Florida Gov. Meanwhile, former House Speaker Nancy Pelosi — one of the richest members of Congress — has a residence in Washington, DC's Georgetown neighborhood.

Persons: Mike Johnson, —, Joe Biden, Kamala Harris, Johnson, it's, Ross Barrett —, Johnson's —, Barrett, Ron DeSantis, Kristi Noem, Kevin McCarthy, Paul Ryan, Ryan, NBC's, John Boehner, Tucker Carlson, Frank Luntz's, McCarthy, Nancy Pelosi —, Jackie Speier, Bennie Thompson, aren't, hasn't Organizations: Service, House, Naval, Cannon, Florida Gov, South Dakota Gov, CNN, Press, Fox News, GOP, Daily, Democratic, NPR, Mississippi, POLITICO, Republicans Locations: Washington, Louisiana, Longworth, Georgetown, California, Johnson's

☆ Why the Fed could be wrong — again — on its latest interest rate call
▼ + stars: | 2023-10-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

"The Fed has never kept the target fed funds rate at peak levels for longer than nine months after a tightening cycle," Arone said. Nine months from now, at least based on history, the target fed funds rate is likely to be lower, not higher." He also sees lower rates ahead and pointed out the history of what happens with tight monetary policy. "The market is eager for lower rates or rate cuts. If the Fed has to rate cuts, it's likely because we're in recession or something in the capital markets is broken," he said.

Persons: Jerome Powell, aren't, Michael Arone, Powell, JPMorgan Chase, Jamie Dimon, Arone, Barry Sternlicht, —, I'm, They've, Thomas Ryan, Nick Elfner, Elfner, Breckinridge, Street's Arone Organizations: Federal, U.S, SPDR, State Street Global Advisors, Fed, JPMorgan, Starwood Capital, Future Investment Initiative, Capital Economics, Breckinridge Capital Advisors Locations: United States, Saudi Arabia, U.S, Breckinridge

☆ What Michael Cohen said about his testimony and why it matters in the Trump fraud trial
▼ + stars: | 2023-10-25 | by ( Jeremy Herb | ) edition.cnn.com time to read: +3 min

New York CNN —An apparent backtrack by Donald Trump’s ex-lawyer and fixer Michael Cohen threw the New York civil fraud trial into more chaos Wednesday afternoon. But after lunch, Cliff Robert, another Trump attorney, pressed Cohen further on his congressional testimony, and Cohen had a different response, saying that the testimony was not false. “The witness just admitted that we won the trial,” Trump told reporters in the hallway. “And the judge should end this trial immediately.”The New York attorney general’s lawyers asked Cohen in follow up questions to clarify his response. New York Attorney General Letitia James downplayed Cohen’s significance to her case against Trump in comments to reporters at the conclusion of Cohen’s two-day testimony.

Persons: Donald Trump’s, Michael Cohen, Cohen, Trump, Alina Habba, “, Allen Weisselberg, Cliff Robert, ” Robert, ” Cohen, Judge Arthur Engoron, ” Trump, ”, Robert, ” “, ” Engoron, Engoron, didn’t, Letitia James, Cohen’s, ” James, “ It’s Organizations: New, New York CNN, Trump, Trump Organization, CNN, New York Locations: New York

☆ Intesa to add 2 bln to reserves from bank tax
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

The logo of bank Intesa Sanpaolo is seen in Milan, Italy, January 18, 2016. REUTERS/Stefano Rellandini/File Photo Acquire Licensing RightsMILAN, Oct 25 (Reuters) - Italy's biggest bank, Intesa Sanpaolo (ISP.MI), on Wednesday said it would increase non-distributable reserves by 2.07 billion euros ($2.19 billion) instead of paying a one-off windfall tax, making use of an opt-out clause in the law. A similar decision was announced on Tuesday by rival UniCredit (CRDI.MI), which is boosting reserves by 1.1 billion euros. Reserves must increase by 2.5 times the amount that would be paid as tax, which in Intesa's case would have been 828 million euros. In announcing it was increasing reserves, Intesa said it had decided to spend around 1.5 billion euros over the 2023-2027 period to help people in need.

Persons: Stefano Rellandini, Intesa, UniCredit, Carlo Messina, Valentina Za, Leslie Adler Organizations: REUTERS, Reuters, Thomson Locations: Milan, Italy

☆ Harvard has become the poster child for American culture wars in the 11 days since Hamas' terrorist attack on Israel. Here's what's happened.
▼ + stars: | 2023-10-18 | by ( Grace Dean | ) www.businessinsider.com time to read: +15 min

Harvard University has become a flashpoint in the intergenerational divide on the Israel-Hamas war. AdvertisementAdvertisementIn the 11 days since Palestinian militant group Hamas launched its terrorist attack on Israel, Harvard University has become a flashpoint for intergenerational tensions about the war — and the broader culture war around campus free speech. Hamas launches terrorist attacks on IsraelPalestinian militant group Hamas launched a series of terrorist attacks on Israel on October 7, with Israel retaliating. AdvertisementAdvertisement"These hateful Harvard students are the future leaders of our society," Rep. Ritchie Torres of New York wrote on X. Some student groups backtrackSome student groups that co-signed the original statement have since withdrawn their signatures.

Persons: Israel, —, Israel retaliating, Bill Ross, Ian Bremmer, Bremmer, Larry Summers, Tom Williams, Summers, Seth Moulton of, Moulton, Republican Sen, Ted Cruz, Rep, Ritchie Torres, Harvard Hillel, Bill Ackman, @harvard, Meredith Weenick, Weenick, Idan Ofer, Batia, Les Wexner, Ackman, Joe McCarthy, Claudine Gay, Craig F, Walker, Gay, Harvard Crimson, Israel's, Joseph Prezioso, Elise Stefanik, Win McNamee, Marc Rowan, Jon Huntsman Jr, Elizabeth Magill, Davis Polk, Wardwell, Winston, Strawn Organizations: Harvard University, Service, Hamas, Harvard, Republicans, Israel Palestinian, UN, Gaza's Hamas, Harvard Palestine Solidarity Groups, Harvard Undergraduate Palestine Solidarity Committee, Inc, Getty, Republican, New York, Palestine, Alpha, CNBC, Harvard Crimson, Conservative, Media, Harvard University Police Department, Quantum, Group, Harvard's Kennedy School of Government, CNN, Wexner Foundation, Bloomberg, Boston Globe, Nepali Student Association, Harvard Undergraduate Palestine Solidarity, Harvard Yard, New York Republican, New, Apollo Global Management, University of Pennsylvania, Huntsman, University, Columbia University, New York University, NYU Student Bar Association Locations: Israel, Gaza, Seth Moulton of Massachusetts, Ted Cruz of Texas, Harvard's, Harvard, Cambridge , Massachusetts, AFP, New York, Utah, Columbia

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