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☆ Class of 2024: How’s your job search going?
▼ + stars: | 2024-05-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +1 min

New York CNN —By many measures, the US economy is in great shape. There are millions of job openings and the unemployment rate is low. That may include the onset of the pandemic, the Great Recession or any time the job market looked worse on paper than it does now. That’s why CNN wants to hear from the class of 2024 about your job searches, for possible inclusion in an upcoming story. We will not include anything in an upcoming article without first reaching out to you and interviewing you.

Persons: there’s Organizations: New, New York CNN, CNN Locations: New York

☆ FDIC Chair Martin Gruenberg will resign following a scathing investigation that detailed a toxic workplace
▼ + stars: | 2024-05-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: 1 min

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☆ Senate Banking Committee Chair Martin Gruenberg calls for ‘new leadership’ at the FDIC following scathing report
▼ + stars: | 2024-05-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: 1 min

☆ The Author of ‘Crazy Rich Asians’ Can’t Go Home, Except in His Books
▼ + stars: | 2024-05-20 | by ( Elisabeth Egan | ) www.nytimes.com time to read: +1 min

A reader of Kevin Kwan’s books could be forgiven for expecting him to make a grand entrance at lunch in Beverly Hills — in a Lamborghini, perhaps, or wearing a slick pair of shades. He wore tortoiseshell glasses, a blue cardigan and hair cut for maximum pensive tucking behind ears. Kwan immediately moved a vase of white roses from one table to another — “Do you mind? His debut novel, “Crazy Rich Asians,” published in 2013, has sold more than 5 million copies worldwide and been translated into over 40 languages. The movie version was the first since “The Joy Luck Club” to feature a majority Asian cast.

Persons: Kevin Kwan’s, Kwan, David Foster Wallace, —, Crustacean’s, “, Helene An, ”, Rich, Joy Organizations: Lamborghini, Joy Luck Locations: Beverly Hills, cardigan

☆ Inside Reese Witherspoon’s Literary Empire
▼ + stars: | 2024-05-18 | by ( Elisabeth Egan | ) www.nytimes.com time to read: 1 min

When her career hit a wall, the Oscar-winning actor built a ladder made of books — for herself, and for others. “Reading is the antidote to hate and xenophobia,” Reese Witherspoon said. “It increases our empathy and understanding of the world.”

Persons: Oscar, —, ” Reese Witherspoon, ”

☆ From Taylor Swift tickets to gasoline — these days everyone feels like they’re being price-gouged. Are they?
▼ + stars: | 2024-05-18 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +8 min

Taylor Swift performs onstage during "Taylor Swift | The Eras Tour" at SoFi Stadium on August 09, 2023 in Inglewood, California. At the core of the increasingly common accusation of price gouging is the sense that the consumer is being exploited. Price gouging is in the eye of the bidderGavin Roberts, chair of Weber State University’s economics department and who studies the effect of anti-price gouging laws, said the laws themselves often don’t define what price gouging is. Corporations charging as much as they can, as painful as it may be for consumers, doesn’t mean they’re necessarily price gouging, said Roberts. Steven Suranovic, an economics professor at George Washington University who has also published research on price gouging, sees it differently.

Persons: Emily Miller lucked, Taylor, Miller, Swift, ” Miller, Taylor Swift, Kevin Winter, it’s, —, Joe Biden — can’t, we’re, Gavin Roberts, Biden, ”, Biden hasn’t, ” Biden, Roberts, Steven Suranovic, Martin Shkreli, Shkreli, Price, Trent Sprague, Lyft, Uber, Travis Kalanick, It’s, ” Suranovic, Rafi Mohammed, Stefani Reynolds, Teresa Murray Organizations: New, New York CNN, CNN, Rights, Weber State, Corporations, George Washington University, Turing Pharmaceuticals, LinkedIn, O'Hare International, Chicago Tribune, Tribune, Service, Consumer, Culture, Profit, Getty Locations: New York, Pittsburgh, Cleveland, Inglewood , California, Chicago, New York City, Washington ,, AFP, US

☆ As bad as you may think the economy is now, it’s nowhere near the 1970s
▼ + stars: | 2024-05-16 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —When new gross domestic product figures last month showed US economic growth slowed from recent gangbuster levels, many people diagnosed the economy as having a really ugly sickness: stagflation. So March’s ugly inflation report, which showed an unexpected jump in the pace of price increases, and the lackluster GDP report, made the diagnosis seem like a no-brainer. Even JPMorgan Chase CEO Jamie Dimon said last month the US economy “looks more like the 1970s than we’ve seen before” and that stagflation is a growing risk. Economic slack, a term I unfortunately cannot take any credit for, broadly describes a situation where the economy isn’t performing as well as it could be. The most widely recognized symptom of economic slack is a rising unemployment rate.

Persons: Jamie Dimon, we’ve, Jerome Powell, ”, Powell, you’ve, it’s, Austan Goolsbee, Diane Swonk, wasn’t, stagflation, millennials Organizations: New, New York CNN, JPMorgan Chase, Fed, Chicago Fed, KPMG Locations: New York, stagflation

☆ The backbone of America’s economy was just dealt a serious blow
▼ + stars: | 2024-05-15 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: 1 min

☆ Fed’s Powell is unfazed by the latest hot inflation reading
▼ + stars: | 2024-05-14 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

Tuesday’s wholesale inflation data, which jumped to its highest rate in a year, certainly wasn’t a source of comfort. “I wouldn’t call it hot, I would call it sort of mixed,” Powell said Tuesday, referring to the new wholesale inflation data. Federal Reserve Chair Jerome Powell (center) spoke Tuesday at an event hosted by the Foreign Bankers' Association alongside European Central Bank Governing Council member Klaas Knot. Another troubling sign for US central bankers is consumers’ belief that inflation will move higher in the year ahead, according to two surveys Fed officials monitor closely. That can lead to higher prices.

Persons: Jerome Powell, Powell, Price, ” Powell, ”, Klaas, Michelle Bowman Organizations: New, New York CNN, Foreign Bankers ’ Association, European Central Bank Governing, Federal, Foreign Bankers, Association alongside European Central Bank Governing, Foreign Bankers Amsterdam, ” Locations: New York

☆ Consumers haven’t felt this bad about the economy since November
▼ + stars: | 2024-05-10 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +1 min

Additionally, consumers are bracing for even higher price increases in the year ahead compared to readings from prior months, the survey found. However, the latest reading is still better than last May, when inflation was running at 4%, versus the latest reading of 3.5%. Long-run inflation expectations also rose, to 3.1% from 3.0% in April. Since inflation expectations can effectively control the pace of price hikes, businesses take those expectations into account when pricing goods and services. The survey suggests that the recent optimism consumers had about the state of the economy is waning.

Persons: Biden, FactSet, it’s, they’re, Joanne Hsu Organizations: New, New York CNN, University of Michigan, Federal Reserve, Fed, Consumers Locations: New York

☆ A Guide to Eurovision 2024
▼ + stars: | 2024-05-09 | by ( Elisabeth Vincentelli | ) www.nytimes.com time to read: +1 min

A Croatian techno-rocker named Baby Lasagna strutting onto TV screens worldwide? It must be time for the Eurovision Song Contest. Since 1956, Eurovision has been pitting countries against each other in a fierce battle of over-the-top pop music, outlandish costumes and go-for-broke stagings. Fans of minimalism should abstain, because at Eurovision, even a modest ballad can be performed with wind machines, fur-lined capes or musicians playing upside down in a gigantic hamster wheel. The combined broadcasts are wildly popular: Last year, they reached 162 million people around the world.

Persons: Lasagna, ” Organizations: Eurovision Locations: Croatian, United States, Sweden

☆ Watery, Peaceful, Wild: The Call of the Mangroves
▼ + stars: | 2024-05-08 | by ( Elisabeth Goodridge | ) www.nytimes.com time to read: 1 min

It was a sunny afternoon in February at the height of the high season on the Caribbean island of Curaçao, but my partner, Aaren, and I were far from lounging on a white-sand beach, snorkeling over a coral reef or strolling among the Easter-egg-colored buildings of Willemstad, Curaçao’s capital and a UNESCO World Heritage site — typical activities for travelers to this former Dutch colony. Instead, on a kayak tour with Serlon St Jago, a guide from the Curaçao Rif Mangrove Park, we were learning about the country’s mangrove restoration, and the vital role mangrove habitats play in coastal resilience, protection for marine and bird species, and fighting the effects of climate change.

Persons: Serlon St Jago Organizations: UNESCO Locations: Curaçao, lounging, Willemstad, Dutch

☆ BlackRock shifted billions into this active ETF. Here’s why it matters to regular investors
▼ + stars: | 2024-05-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

A small tweak in BlackRock's model portfolio turned a sleepy fund into one of the market's fastest growing active ETFs overnight. BlackRock added the U.S. Equity Factor Rotation ETF (DYNF) to its target allocation model portfolio in mid-March. The growth of DYNF sits at the center of two broader trends — rapid growth of model portfolios and the proliferation of active ETFs. Model portfolios are strategies offered by asset managers to investors and financial advisors. Meanwhile, model portfolios that want to add active management may not be able to add the best-performers in a category.

Persons: Michael Gates, DYNF, financials, Berkshire Hathaway, Morningstar, Elisabeth Kasner, Kasner, It's Organizations: U.S, Equity, BlackRock's, Stock Market, Microsoft, Nvidia, Berkshire Locations: BlackRock, DYNF

☆ For US renters, the chance of owning a home is going from bad to worse
▼ + stars: | 2024-05-08 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

New York CNN —The American dream of homeownership is looking more like a nightmare. With inflation heating up again, the Federal Reserve is in no position to consider lowering interest rates at its upcoming meetings. That’s according to a New York Fed survey gauging consumers’ expectations of the housing market, released Monday. Consumers are gearing up for even bigger increases compared to the expected rise in mortgage rates over the next year, the New York Fed survey found. The issue of rent affordability is particularly pronounced in New York City, where housing costs have always been notoriously high compared to other parts of the country, absent a brief respite during the pandemic.

Persons: That’s, Kenny Lee, Aditya Bhave, Neel Kashkari, Bhave, ” Bhave, “, Perdue “, ”, Read, TikTok, Joe Biden, Brian Fung, Bytedance Organizations: CNN Business, Bell, New York CNN, Federal, New, Fed, Zillow, Bank of America, CNN, Minneapolis, Bloomberg, United States Department of Labor, Seaboard Triumph Foods, Perdue, Labor Department, Seaboard, Labor, Packers Sanitation Services, Appeals, District of Columbia Circuit Locations: New York, New York City, Fayette, DOL, Sioux City , Iowa, Accomac , Virginia, China

☆ The Chair of the FDIC is facing calls to resign after scathing report. The implications for banks could be significant
▼ + stars: | 2024-05-08 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —Martin Gruenberg, the chair of the Federal Deposit Insurance Corporation, is facing a barrage of calls from lawmakers to resign after a scathing 234-page report released Tuesday detailed pervasive sexual harassment, discrimination and bullying at the agency. If he heeds the calls, there could be significant ramifications for banks across the country. “We do recognize that, as a number of FDIC employees put it in talking about Chairman Gruenberg, culture ‘starts at the top,’” the report said. Gruenberg’s temperament “may hinder his ability to establish trust and confidence in leading meaningful culture change,” the report added. Aside from Democratic Rep. Bill Foster, Democrats have stopped short of calling on Gruenberg to resign.

Persons: New York CNN — Martin Gruenberg, Cleary Gottlieb Steen, Gruenberg, ‘, ’, “, ” That’s, CNN Gruenberg “, Joe Biden, Bill Foster, That’s, Travis Hill, Rulemaking, ” Dennis Kelleher, Hill, Cowen, Sen, Elizabeth Warren aren’t, Karine Jean, Pierre didn’t, Biden, Kelleher Organizations: New, New York CNN, Federal Deposit Insurance Corporation, Hamilton, FDIC, CNN, Democrat, Democratic Rep, Republican, Senate, Democratic, Better, Federal Reserve, White Locations: New York, Basel

☆ Robert Kraft’s foundation is airing a new ad during NBA playoffs highlighting rise of antisemtism on campuses
▼ + stars: | 2024-05-07 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

But don’t scream at the Jewish kid walking to class,” the 30-second ad states, featuring photos from protests since October 7th. But there cannot be hate speech or intimidation,” Tara Levine, president of Kraft’s foundation said in a statement to CNN. “Our ad shows when protests create dialogue, but also when they cross the line into hate.”Kraft similarly purchased a Super Bowl ad this year to highlight antisemitism, however, the ad did not focus specifically on campus protests. But administrators have said the protests have disrupted life on campus, threatened students’ security and broke school rules. The campus protests, however, will not be a major section of the president’s remarks.

Persons: Robert Kraft’s, ”, ” Tara Levine, ” Kraft, Paul Alivastos, Biden, Joe Biden, Columbia University’s Organizations: New, New York CNN, People, NBA, Robert, Robert Kraft’s Foundation, Kraft, New England Patriots, Columbia University, Palestine, CNN, University, University of Chicago’s, Columbia, Columbia University’s Hamilton Locations: New York, America, Israel, Washington

Stock futures soared higher on Friday morning after new data showed that US job growth slowed considerably last month. The US added just 175,000 new jobs in April, according to Bureau of Labor Statistics data released Friday. That's far below economists expectations for 235,000 jobs and the 315,000 jobs added in March. A still-robust job market means the central bank could continue to keep rates elevated without fear of sending the economy into a recession. If the labor market weakens, the Fed is more likely to consider a rate cut.

Persons: That's Organizations: Dow, Nasdaq, of Labor Statistics, Wall Street, Federal Reserve

Hiring activity was stronger than expected in the US private sector last month, according to payroll processor ADP’s latest employment estimates. Employers added 192,000 jobs in April, down from March's job gains, (which were upwardly revised by 24,000 to 208,000 jobs) according to ADP’s national employment report released Wednesday. However, economists were anticipating a net gain of 175,000 jobs, according to FactSet consensus estimates. While job growth has accelerated to start the year, wage gains are showing a continued moderation, according to the report. While ADP’s tabulations don’t always correlate with the official federal jobs report — which is due out Friday — it’s sometimes viewed as a proxy for overall hiring activity.

Persons: tabulations, it’s

☆ The spring homebuying season isn’t what it used to be, thanks to the Fed
▼ + stars: | 2024-04-30 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

All that has caused the spring homebuying season to take a timeout — and could spell trouble for the remainder of the year. Since 1999, more than a third of home sales for the entire year occur between March and June on average, according to Freddie Mac data. Given the Fed is in no rush to cut interest rates, Khater expects mortgage rates to remain elevated for longer. Taken together, all these factors will likely put upward pressure on home prices, Khater and his team said in the report. “Our outlook does depend on mortgage rates, which are creating their own seasonality,” she added.

Persons: That’s, ” Zillow, Nicole Bachaud, “ Buyers, Bachaud, Sam Khater, Freddie Mac, Khater, ” Organizations: New, New York CNN, Federal Reserve, CNN, “, Fed Locations: New York, Texas, Florida

☆ 5 ways to attack the climate crisis
▼ + stars: | 2024-04-29 | by ( Andrea Kane | ) edition.cnn.com time to read: +8 min

The climate crisis impacts Earth — its land, its atmosphere and its bodies of water — and it also profoundly affects the health and behavior of the planet’s inhabitants large and small, including humanity. And CNN Chief Climate Correspondent Bill Weir has a front-row seat to the ever-evolving situation. “Five million people die prematurely every year just to, just from particulate pollution of burning fossil fuels around the world,” Weir said. “It is taking care of water and soil and air… (that) fills those (Maslow) needs in ways that we can’t imagine in our modern, convenient world,” he said. “I just want folks to connect with each other and nature in the best possible ways,” he said.

Persons: Bill Weir, Weir, Olivia, —, “, ” Weir, Sanjay Gupta, it’s, Abraham Maslow’s, ”, Elisabeth Kübler, Rogers, “ There’s, he’s, Maslow Organizations: CNN, Earth Locations: Hope, America, Charleston , South Carolina, Miami, thrivers, United States, Maine, Canada, Asia, Lahaina, ‘

☆ Fears about stagflation are mounting in the US. It’s every central banker’s worst nightmare
▼ + stars: | 2024-04-25 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

And economists are forecasting new inflation data due Friday will paint a similar picture. The GDP report gave another preview of what could come. Slowing economic growth combined with rising inflation is known as stagflation. To be fair, one GDP report isn’t necessarily indicative of a trend. He repeated that message in a Wall Street Journal interview published Thursday before the GDP report was released.

Persons: there’s, JPMorgan Chase, Jamie Dimon, we’ve, ”, —, ” Dimon, Mike Reynolds Organizations: New, New York CNN, Federal Reserve, JPMorgan, Economic, of New Locations: New York, Germany, Israel, of New York

☆ Trump Media warns Nasdaq of suspected market manipulation
▼ + stars: | 2024-04-19 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: 1 min

☆ The Maya Train Will Get You to All of Yucatán’s Best Spots. But Not Yet.
▼ + stars: | 2024-04-19 | by ( Elisabeth Malkin | ) www.nytimes.com time to read: +1 min

I stepped off the platform at the gleaming new Maxcanú train station, eager to see the magnificent Maya archaeological site of Uxmal. All I needed was a taxi to take me there, a trip of about 30 miles away. And I was the third person in two weeks to get off at Maxcanú expecting to reach Uxmal, he said. I was midway through a five-day trip to explore the brand-new Maya Train and several of its destinations in the Yucatán Peninsula of Mexico. Designed to run 965 miles (1,554 kilometers) around a loop of 34 stations when completed, the train will whisk passengers in cool comfort through colonial cities, archaeological sites, splashy resorts and tropical forests.

Persons: Maxcanú, van Locations: Yucatán, Mexico

☆ What to see at the Venice Biennale 2024
▼ + stars: | 2024-04-18 | by ( Nicole Mowbray | ) edition.cnn.com time to read: +10 min

CNN —This week sees the opening of the Venice Biennale, an 8-month-long festival of art and culture staged every other year. For 2024 — the show’s 60th iteration — Brazilian curator Adriano Pedrosa has chosen the topic of “Foreigners Everywhere,” and announced an intention to spotlight artists from diverse and historically marginalized backgrounds. With the main event running from April 20 to November 24 2024, here’s our pick of what to see if you’re headed to Venice. “Willem de Kooning e l’Italia” — Willem de KooningThe show at Gallerie dell’Accademia will include 75 Willem de Kooning works, including "Screams of Children Come from Seagulls (Untitled XX)," 1975. Yoo Youngkuk Art FoundationThe first exhibition in Europe of one of Korea’s most influential artists, including many works never exhibited before outside Korea.

Persons: Adriano Pedrosa, ”, Pedrosa, —, you’re, “ Willem de Kooning, Willem de Kooning, Kooning, Gallerie, Nick, Berlinde De, Abbazia, Ewa Juszkiewicz Juszkiewicz, Élisabeth Vigée Le Brun, Palazzo, Palazzo Cavanis, Ai, Peter Hujar, della, Carolina, Marcel Duchamp, Franchetti, Cindy Sherman, Louise Bourgeois, Sarah Lucas, Irving Penn, Palazzo Franchetti, Marco “, Zoe Saldana, Marco Perego, Corita, Maurizio Cattelan, Pope Francis, Inuuteq Storch, Louise Wolthers, “, John Akomfrah, John Akmofrah, Yoo, Yoo Youngkuk, Stampalia, M.F, Husain, Picasso, Viktoria Bavykina, Max Gorbatskyi, Ai Weiwei Ai Weiwei, Ela Bialkowska, Ai Weiwei, Palazzo Smith, Koo Jeong, Koo, Rick Lowe, Lowe's, Lowe Organizations: CNN, Venice Biennale, Palazzo, Sun, Danish, British, Bangkok Art Biennale Foundation Locations: Venice, Italy, “, Refuge, ” City, San Giorgio Maggiore, San, New York, Santa, San Marco, Marco, Giudecca, Corita Kent, American, Greenland, Europe, Korea, India, Sale, Ukraine, Continua, Bangkok, Thailand, Laos, Cambodia, Vietnam, Myanmar, Singapore, Houston

☆ ‘They will not win’: Sweden’s finance minister insists Ukraine cannot lose the war
▼ + stars: | 2024-04-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email‘They will not win’: Sweden’s finance minister insists Ukraine cannot lose the warSwedish Finance Minister Elisabeth Svantesson tells CNBC's Karen Tso that Europe can’t afford to let Russian win its war with Ukraine as it would lead to troubling events in the coming years.

Persons: Elisabeth Svantesson, Karen Tso Organizations: Swedish, Russian Locations: Ukraine, Europe

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