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☆ Opinion | Biden Is Doing It All Wrong
▼ + stars: | 2024-05-12 | by ( Mark Penn | ) www.nytimes.com time to read: +2 min

I’ve spent decades looking at the behavior of swing voters and how candidates appeal to them, including for Bill Clinton’s re-election campaign in 1996. People usually assume that turning out so-called base voters in an election matters most, since swing voters are fewer in number. And it’s true that in today’s polarized environment, Mr. Biden and Mr. Trump each has about 40 percent of the country in their bases already and nothing will change those people’s minds. Take Michigan, a battleground state where Mr. Trump has led Mr. Biden by as many as three percentage points in the last month. Or Mr. Biden could switch just 125,000 swing voters and win.

Persons: Biden, I’ve, Bill Clinton’s, Trump, Clinton, George W, Bush, Barack Obama, — Locations: Israel, America

☆ Meet the millennials who suddenly doubled their wealth in the last 4 years after an adulthood plagued by bad economic luck
▼ + stars: | 2024-05-11 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +11 min

"So looking at even a $150,000 price tag for a house, you're just like, when is that ever going to happen?" In the fourth quarter of 2019, millennials held $3.5 trillion in real estate wealth; as of the fourth quarter of 2023, that's more than doubled. Average millennial wealth doubled between 2019 and 2023, according to an analysis from the Center for American Progress. For example, Gen Xers' real wealth grew by only 4% in the four years following 2007's Great Recession. Baby boomers' real wealth grew by 46% in the four years after the 1990 recession.

Persons: —, James Barnes, Barnes, you'd, millennials, Khary, Gen Xers, boomers, Joe Biden, Biden, didn't, Amanda, Rob Gruijters, They're, there's, Caitlin de Oliveira, she's Organizations: Service, Navy, BI, Center for American Progress, University of Cambridge, Research Locations: Lawrenceville , Georgia, Atlanta, Alabama, —, Texas

CNN spoke to three Israeli whistleblowers who worked at the Sde Teiman desert camp, which holds Palestinians detained during Israel’s invasion of Gaza. Reports of abuse at Sde Teiman have already surfaced in Israeli and Arab media after an outcry from Israeli and Palestinian rights groups over conditions there. CNN has requested permission from the Israeli military to access the Sde Teiman base. The account tallied with details of a letter authored by a doctor working at Sde Teiman published by Ha’aretz in April. The structure, which resembles an animal pen, is located in the central area of the Sde Teiman compound.

Persons: Sde Teiman, ”, “, –, Ofer, Patrick Gallagher, Adnan al, Bursh –, Mohammed al, Ran, ” Dr, Mohammed Al, Shawish, abasement, “ You’d, Teiman, Ha’aretz, Israel, Ray, Tal Steiner, ” Steiner, – Ofer, West Bank –, Ibrahim Yassine, Abu Salah, Al, Barbara Arvanitidis, Tamara Qiblawi, Matthew Chance OSINT, Allegra Goodwin, Alex Platt, Abeer Salman, Ami Kaufman, Kareem Khadder, Mohammad Al Sawalhi, Carlotta Dotto, Lou Robinson, Mark Oliver, Tom James, Sarah Tilotta, Mark Baron, Julie Zink, Augusta Anthony Motion, Yukari Schrickel, Laura Smith, Eliza Mackintosh, Dan Wright, Matt Wells Editor’s, Matthew Chance, Al Hilou Organizations: Israel CNN —, CNN, Israel Defense Forces, Military, IDF, West Bank, Bosnian, Ahli Baptist Hospital, Social Media, CNN Al, “, Ha’aretz, for Human Rights, Nasser Hospital, Planet Labs PBC Planet, Planet Labs, Palestinian Red Crescent Society Locations: Israel, Gaza, Palestinian, Al, Ahli, Israel’s, “, London, Sde, Jerusalem

☆ The next union organizing wave is at Apple
▼ + stars: | 2024-05-10 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +7 min

Apple store workers in Towson, Maryland, made history in June 2022 when they voted to form the first union at one of the tech giant’s sleek US stores. But the union vote in New Jersey this weekend, along with other efforts across the country, could just be the beginning. The Apple workers (possibly) going on strike is going to be a spark for other workers,” Bronfenbrenner said. Workers at the Towson Town Center Apple hold their new union T-shirts after their store employees decided to join the International Association of Machinists Union. Theirs is the first Apple store in the US to vote for union representation.

Persons: Apple, ” Kate Bronfenbrenner, ” Bronfenbrenner, Jay Wadleigh, Barbara Haddock Taylor, Bronfenbrenner, There’s, “, ”, Catherine Thorbecke Organizations: New, New York CNN, Apple, Big Tech, US, Employees, National Labor Relations Board, Labor Education Research, Cornell’s School of Industrial and Labor Relations, Oklahoma City, Towson, CNN, Maryland Apple, International Association of Machinists, Aerospace Workers Coalition, Retail Employees, Workers, Towson Town Center Apple, Baltimore Sun, Tribune, Service, Getty Images, Google, Union, NLRB, World Trade, US Labor Board Locations: New York, Washington, China, Towson , Maryland, Baltimore, Maryland, New Jersey, New York City, United States, International Association of Machinists Union, Short Hills, Atlanta, Cupertino , California

☆ Airbnbs are primed to take over Miami, which is already facing a housing crunch
▼ + stars: | 2024-05-10 | by ( Dan Latu | ) www.businessinsider.com time to read: +3 min

A Florida real-estate firm forecasts that 31 pre-construction condo buildings in the Miami region are ripe for Airbnbs. So many, in fact, that they outnumber the amount of traditional rentals tagged for development over the same time. "We've had a development industry that is adding more short-term rentals to South Florida inventory," Studnicky told BI. AdvertisementDevelopers in the Miami region should focus on creating more traditional rentals to alleviate pressure in the market, Studnicky believes. In the past 10 years, Studnicky estimates a much more robust 20,000 traditional rental units were built in Miami.

Persons: —, Craig Studnicky, Studnicky, We've Organizations: ISG, Service, Dade, Miami Homes, Miami Locations: Florida, Miami, Dade County, Broward County, South Florida, Broward

☆ CNBC's Inside India newsletter: A disconnected stock market
▼ + stars: | 2024-05-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

CNBCThis report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. For local investors, Indian stocks would have underperformed the U.S. benchmark by more than 45 percentage points since Buffett's 2008 bet. It appears that India's near 8% GDP growth isn't transforming into stock market returns. But that has also meant significant competition for the incumbents, many of which are listed on the stock market. This year has also been particularly unlucky for Indian stock market investors thanks to the uncertainty added by politics.

Persons: Warren Buffett, it's, Jonathan Pines, Federated Hermes, Rajeev Agrawal, Agrawal, Narendra Modi's, Kevin Carter, Buffett, Carter, Modi, Narendra Modi, Amit Shah, Virat Kohli, Rajat Patidar Organizations: Berkshire, CNBC, BSE, Federated, DoorDarshi Advisors, Narendra Modi's BJP, India, Ecommerce, One97 Communications, Ujjivan Financial, BJP, Russia, Indian, Ukraine, India's Central Bureau of Investigation, Indian Premier League, Wednesday, Royal Challengers Bengaluru Locations: Omaha , Nebraska, Omaha, BSE India, India, United States, Gandhinagar Lok Sabha, Russia, Mumbai, Punjab Kings

☆ Valuation gap between small and large caps is still very large, says Amy Zhang
▼ + stars: | 2024-05-10 | 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 EmailValuation gap between small and large caps is still very large, says Amy ZhangAmy Zhang, Executive Vice President and Portfolio Manager at Alger, makes the bull case for small-caps.

Persons: Amy Zhang Amy Zhang

☆ The U.S. is now Germany’s biggest trading partner — taking over from China
▼ + stars: | 2024-05-10 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Photo: Christoph Soeder/dpa (Photo by Christoph Soeder/picture alliance via Getty Images)After years of China being Germany's main trading partner, the U.S. looks like it's quietly taking that top spot as the year progresses. Several factors played a role in the change, Carsten Brzeski, global head of macro research at ING Research, told CNBC. […] At the same time, decoupling from China, weaker domestic demand in China and China being able to produce goods it previously imported from Germany (mainly cars) reduced German exports to China," he said. China has been Germany's biggest trading partner for years, but the gap between China and the U.S. narrowed in recent years. The U.S. has also long been a bigger market for German exports than China, Holger Schmieding, chief economist at Berenberg Bank, told CNBC.

Persons: Habeck, Christoph Soeder, it's, Carsten Brzeski, Holger Schmieding, China's, Schmieding Organizations: German, Getty, U.S, CNBC, Reuters, ING Research, Berenberg Bank Locations: Germany, China, U.S

☆ You just heard your college-bound child is getting less aid than you hoped. Now what?
▼ + stars: | 2024-05-10 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +8 min

New York CNN —The good news is your child got into college and is preparing to enroll this fall. The bad news is that you’ve just learned the aid package your child’s school is offering is much smaller than you’d hoped. Over four years of college, students can take out a total of up to $27,000. “That’s cash-flow friendly while your child is in college,” Walker said. Also, Bogardus suggests checking to see if your state offers a tuition aid plan or subsidized loan rates for educational expenses.

Persons: you’ve, sobering, ”, Beth Walker, “, ” Walker, they’ve, Joseph Bogardus, it’s, Bogardus, Skip, Walker, you’ll Organizations: New, New York CNN, College Board, Center for College Planning Solutions, College, ”, Stafford, PLUS Locations: New York, New England, Stafford

☆ Japan aging: Women’s participation in ‘naked festival’ a sign of how aging is forcing changes to male-centric traditions
▼ + stars: | 2024-05-10 | by ( Himari Semans | Chris Lau | ) edition.cnn.com time to read: +8 min

Tokyo/Hong Kong CNN —With a history spanning more than 1,200 years, “hadaka matsuri,” or the naked festival, is Japanese masculinity on full display. Some women in Japan still battle deep-rooted cultural expectations that require them to take the role of “shufu,” or housewife, experts say. But in the naked festival, women have recently found hope. Men strip naked — except for a delicate piece of crotch-covering white loincloth — to take part in the naked festival at Konomiya Shrine on February 22, 2024. Women — donning happi, a traditional festive coat — are responsible for carrying a bamboo offering during the naked festival at Konomiya Shrine on February 22, 2024.

Persons: —, Saudi Arabia —, “, Christopher Gallagher, ”, we’ve, ” Haruhiko, Atsuko Tamakoshi, Chris Gallagher, Enyukai, Ayaka Suzuki, Mitsuko Tottori, Yoko Kamikawa, Fumio, Kaori Katada, Hiyori Kon, Sumo, won’t Organizations: Hong Kong CNN, Economic, Japan, Reuters, Mikiko, Hosei University, pre, CNN, ”, Ministry of Health, ” Eto, Organization for Economic Cooperation, Development, Japan Airlines, Netflix, Little Locations: Tokyo, Hong Kong, Japan, jostle, Germany, Britain, United States, India, Saudi Arabia, Konomiya Shrine, Konomiya

☆ India’s time zone: Why the world’s most populous country has a unique one
▼ + stars: | 2024-05-09 | by ( Dhruv Tikekar | ) edition.cnn.com time to read: +8 min

India’s half-hour zone dates back to colonial rule of India and the era when ever-faster steamships and trains were shrinking the world. The start of the 20th century saw some push from scientific associations to calibrate India’s time to GMT. That recommendation was rejected by the colonial government, which opted for a unified time that sat squarely in the middle: five and a half hours ahead of GMT. In 2015, North Korea moved out of sync with South Korea by creating “Pyongyang Time,” putting the country eight and a half hours ahead of GMT instead of nine. India’s colonial-era time zone decision making, however, reflected a chorus of political, scientific and commercial voices both from within the government and outside of it, Gordon says.

Persons: Hulton, ”, Geoff Gordon, Gordon, “, it’s, Wong Maye, Hugo Chávez, Nicolas Maduro, Terry Gilliam, Rube Goldberg, Maulik Jagnani, Jagnani Organizations: CNN, East India Company, Hulton Deutsch, University of Amsterdam, Madras, Washington D.C, Greenwich Meridian, Greenwich Observatory, Meridian, Royal Society, Prime Meridian, Physical Laboratory, Tufts University, NPL Locations: New York, London, Tokyo, Iran, Myanmar, Australia, India, British, Madras, Chennai, “, Bombay, Kolkata, Washington, London ., Greenwich, North Korea, South Korea, Korea, Pyongyang, Brazil, ”, Greenwich , London, China, Assam, Arunachal Pradesh, Gujarat

☆ A '9-to-5 millionaire' shares 2 ways to increase your day job income — and the 'offense-defense' strategy that propelled him to financial independence
▼ + stars: | 2024-05-09 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

Shao Chun Chen built wealth by sticking to simple principles: live below your means and invest early and regularly. Shao shared the strategies he used to increase his income while working his day job, plus the formula he used to achieve financial independence. Shao Chun Chen worked at Google Singapore for eight years. Shao Chun Chen"I forced myself. To play good offense, start by evaluating your day job.

Persons: Shao Chun Chen, He's, Merrill Lynch, Shao, you've, You've Organizations: Business, NTU Singapore, Google, BI, Google Singapore, National University of Singapore Locations: Singapore

☆ A top Citi tech exec breaks down the 4 phases of the bank's AI strategy that will impact everyone from operations to wealth and product
▼ + stars: | 2024-05-09 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

Instead, he's betting that small, incremental, and sometimes "boring" moves will make the biggest impact on the bank's overall efficiency. AI is poised to change just about every employee's job at Citi and "sustainably change how we work for decades to come," Zafar said. The four-part plan will impact everyone from technology and operations to wealth and product design. Citi has undergone considerable change as CEO Jane Fraser looks to streamline the bank's operations and boost returns. The next group at Citi poised to use AI widely is operations, or employees who handle back-office administrative processes.

Persons: Shadman Zafar, Let's, Zafar, Jane Fraser, It's, it's Organizations: Service, Workers, Business, Citi Locations: Wall

☆ Asia heatwave: Record temperatures cancel classes, widening learning gaps across Southeast Asia
▼ + stars: | 2024-05-09 | by ( Heather Chen | Kathleen Magramo | ) edition.cnn.com time to read: +8 min

His class of 43 students pass around mini hand-held fans during lessons on most days to keep cool. More than 33 million children were impacted as a result of the heatwave, according to groups like Save the Children and UNICEF. The worst hit were poor children in rural areas whose families couldn’t afford devices like laptops and tablets to facilitate remote learning, UNICEF says. “We don’t allow children outside when temperatures get too hot,” said Bong Samreth, who teaches at a public school in Phnom Penh. Loose, lightweight and light colored clothing was also advised for students to protect them from sunburns and heat exposure.

Persons: Seila, ”, “, —, Sheldon Yett, ” Yett, Bong Samreth, Ezra Acayan, Benjo Basas, Basas, Mirasol, Hang Chuon Naron, Ferdinand Marcos Jr, Chaideer Mahyuddin, it’s, Joy Reyes Organizations: Hong Kong CNN, CNN, Children, UNICEF, UN, ”, Volunteers, Getty, Governments Locations: Hong Kong, Cambodia, Phnom Penh, South, Southeast Asia, Bangladesh, Philippines, Tondo, Manila, Pangasinan, Philippine, Banda Aceh, Indonesia, AFP

☆ Dollar holds its ground as key inflation data looms
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: +2 min

U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on Dec. 15, 2023. Against the Japanese yen, the dollar slowly inched up after it fell more than 3% last week, its biggest weekly percentage drop since early December 2022. Japan's top currency diplomat Masato Kanda on Thursday reiterated a warning that Tokyo is ready to take action in the currency market. The dollar index rose to 0.05% to 105.55, while the Japanese yen was mostly flat at 155.59 per greenback. The BOE is likely to take another step towards its first interest rate cut in four years as inflation falls.

Persons: Masafumi Yamamoto, Masato Kanda, Susan Collins, Sterling, BOE, bitcoin Organizations: Federal Reserve, Bank of, Mizuho Securities, Traders, PPI, Fed Bank of Boston, European Central Bank Locations: Buenos Aires, Argentina, Japan, U.S, United States, Tokyo, —

The Major Supreme Court Cases of 2024No Supreme Court term in recent memory has featured so many cases with the potential to transform American society. In 2015, the Supreme Court limited the sweep of the statute at issue in the case, the Sarbanes-Oxley Act of 2002. In 2023, the Supreme Court temporarily blocked efforts to severely curb access to the pill, mifepristone, as an appeal moved forward. A series of Supreme Court decisions say that making race the predominant factor in drawing voting districts violates the Constitution. The difference matters because the Supreme Court has said that only racial gerrymandering may be challenged in federal court under the Constitution.

Persons: Donald J, Trump, Anderson, Sotomayor Jackson Kagan, Roberts Kavanaugh Barrett Gorsuch Alito Thomas, Salmon, “, ”, Mr, Nixon, Richard M, privilege.But, Fitzgerald, Vance, John G, Roberts, Fischer, Ruth Bader Ginsburg, Clarence Thomas, Samuel A, Alito Jr, Alito, ’, Moyle, Wade, Roe, Johnson, Robinson, Moody, Paxton, Robins, Media Murthy, Sullivan, Murthy, Biden, Harrington, Sackler, Alexander, Jan, Raimondo, ” Paul D, Clement, Dodd, Frank, Homer, Cargill Organizations: Harvard, Stanford, University of Texas, Trump, Liberal, Sotomayor Jackson Kagan Conservative, Colorado, Former, Trump v . United, United, Sarbanes, Oxley, U.S, Capitol, Drug Administration, Alliance, Hippocratic, Jackson, Health, Supreme, Labor, New York, Homeless, Miami Herald, Media, Biden, National Rifle Association, Rifle Association of America, New York State, Purdue Pharma, . South Carolina State Conference of, Federal, Loper Bright Enterprises, . Department of Commerce, Chevron, Natural Resources Defense, ”, SCOTUSPoll, Consumer Financial, Community Financial Services Association of America, Securities, Exchange Commission, Exchange, Occupational Safety, Commission, Lucia v . Securities, Federal Trade Commission, Internal Revenue Service, Environmental Protection Agency, Social Security Administration, National Labor Relations Board, Air Pollution Ohio, Environmental, Guns Garland, Alcohol, Tobacco, Firearms, Explosives, National Firearms, Gun Control Locations: Colorado, Trump v . United States, United States, Nixon, Florida, Gulf of Mexico, Dobbs v, Idaho, Roe, Texas, States, New, New York, Grants, Oregon, . California, Martin v, Boise, Boise , Idaho, Missouri, Parkland, Fla, Murthy v . Missouri, . Missouri, ., South Carolina, Alabama, SCOTUSPoll, Lucia v, Western

☆ Chinese EV maker Zeekr prices IPO at $21, at the top end of range, reports say
▼ + stars: | 2024-05-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A Zeekr 001 electric vehicle (EV) by Geely is seen displayed at the Zeekr booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. Chinese electric vehicle maker Zeekr priced its initial public offering at $21 a share Thursday, at the top end of its range, according to news reports. Zeekr, which is backed by Chinese-based automotive group Geely, offers several luxury vehicle models, including an upscale sedan it began delivering in January. "Our sales gap with Tesla keeps on narrowing," Zeekr CEO Andy An told CNBC in an interview last month translated from Mandarin. Zeekr has said it plans to use the proceeds from the offering to develop more advanced battery electric vehicle technologies.

Persons: Geely, Tesla, Andy, Zeekr, Goldman Sachs, Morgan Stanley, Merrill Lynch Organizations: Auto Shanghai, New York Stock Exchange, Reuters, Bloomberg News, Securities and Exchange Commission, SEC, Tesla, CNBC, Underwriters, China International Capital Locations: Shanghai, China, Zhejiang, Europe, Latin America, Sweden, Netherlands

☆ Justin Bieber and Hailey Baldwin's Relationship Timeline
▼ + stars: | 2024-05-09 | by ( Callie Ahlgrim | Palmer Haasch | ) www.businessinsider.com time to read: +29 min

2009: Justin and Hailey met at a fan eventAccording to 234Star.com, Justin and Hailey first met at a fan event (for Justin, not Hailey) in 2009. February 2011: Hailey attended another Bieber Fever eventHailey Baldwin, Justin Bieber, and Steven Baldwin at the 2011 premiere of "Never Say Never." July 2015: Justin and Hailey got matching tattoosA post shared by Justin Bieber (@justinbieber)In the summer of 2015, Justin and Hailey got matching "G" tattoos. May 5, 2018: Hailey attended the Met Gala with Shawn MendesShawn Mendes and Hailey Baldwin at the 2018 Met Gala. October 4, 2019: Hailey starred in Justin's music video for '10,000 Hours'Justin and Hailey Bieber in the "10,000 Hours" music video.

Persons: —, Sara Hendricks, Justin, Hailey, 234Star.com, Stephen Baldwin, Hailey Baldwin, Justin Bieber, Steven Baldwin, Richard Corkery, Kendall Jenner, Selena Gomez, Gomez's, Georgia Veach, Chad Veach, Hillsong Church . Georgia, Chad, Julia Veach, Leonardo DiCaprio's, Bieber, Jason Merritt, Frederick M, Brown, I'm, Vogue, Sofia Richie, Justin unfollowed Hailey, Richie didn't, Selena Gomez Justin Bieber, Stuart Franklin, Christopher Polk, Paola Paulin, Abel Tesfaye, Gomez, Tesfaye, Shawn Mendes Shawn Mendes, Neilson Barnard, Staff Hailey, Shawn Mendes, Mendes, Rich Wilkerson Jr, Jeremy Bieber, Steve Baldwin, Kim Basinger, Alaia, Basinger, Hailey's, Alec Baldwin, What's, Hailey flaunted, Bjorn Iooss, Hailey draping, Grant Mobley, Jack Solow, Solow, James Devaney, Vogue's Rob Haskell, Justin serenaded Hailey, Ricky Vigil, — Hailey, Instagram Justin, Elle, wasn't, Hailey Rhode Bieber, Rhode, It's, Instagram Hailey, Lyme, Hailey Bieber, Dan, Shay, livestream, Ellen DeGeneres, Justin's, Ariana Grande, K, Kevin Mazur, GQ, Jeff Kravitz, Judah Smith, Kennya Baldwin, I've, Ebro, Bauer, Griffin, Kylie Jenner, concertgoers, Kim Kardashian, Kris Jenner, DJ Khaled, Jenner Organizations: Service, Business, Daily, Getty, New, New York City, Vogue, Hillsong Church, Hillsong Church ., Lissencephaly, Weekly, Staff, Hamptons, Twitter, they're, Cosmopolitan, Vogue Mexico, Solow, TMZ, Bureau, London Fashion, Adidas, Stratford Perth Museum, YouTube, Children's, Amazon Studios, Amazon Prime, Chelsea, Nation, Apple, Ebro Darden, Bellocqimages Locations: New York, St, Barts, Instagram, Los Angeles, Miami, Domino, Bahamas, Ireland, New York City, Vogue Mexico, Toronto, London, Buckingham, South Carolina, NYC, Brooklyn, lacy

☆ I bought an abandoned house and tried to renovate it but failed. I'll never buy another fixer-upper.
▼ + stars: | 2024-05-09 | by ( Karie Fugett | ) 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. The kitchen and bathroom were gutted, and the smell of rats' nests was so strong I could hardly stand it. The property was located in a town I'd never heard of with fewer than 1,000 residentsThe abandoned home. I had been sitting on some life insurance money I'd gotten after my Marine husband died of war wound complications. I got lucky with the saleThe silver lining was that housing prices had skyrocketed since I'd purchased the property.

Persons: —, Ivy, I'd, couldn't, Karie, Blackberries, Fugett, we'd, I, we're, We're Organizations: Service, Business Locations: Oregon, Philomath, Eugene, Alabama

☆ A port-in-the-storm trade if the consumer continues to get pinched by rates and inflation
▼ + stars: | 2024-05-09 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

The consumer, making up 70% of the U.S. economy, is being hit by higher interest rates and sticky inflation. Consumer spending, also known as personal consumption expenditures (PCE), typically represents about two-thirds of the U.S. GDP. While that is attributed to easing consumer demand for EVs, dealer inventories of ICE vehicles have recovered significantly since the pandemic. Away from consumer discretionary and towards consumer staples. The Consumer Staples Select Sector ETF (XLP) is trading 21 times trailing earnings and about 19.6 times forward earnings estimates versus 25.7 times trailing and 22.83 times forward for the Consumer Discretionary Select Sector Index.

Persons: there's, Tesla, Power Organizations: Starbucks, Investors, PPI, CPI, Federal Locations: U.S

☆ 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

☆ Opinion | The Happiness Gap Between Left and Right Isn’t Closing
▼ + stars: | 2024-05-08 | by ( Thomas B. Edsall | ) www.nytimes.com time to read: 1 min

Why is it that a substantial body of social science research finds that conservatives are happier than liberals? A partial answer: Those on the right are less likely to be angered or upset by social and economic inequities, believing that the system rewards those who work hard, that hierarchies are part of the natural order of things and that market outcomes are fundamentally fair. Those on the left stand in opposition to each of these assessments of the social order, prompting frustration and discontent with the world around them. The happiness gap has been with us for at least 50 years and most research seeking to explain it has focused on conservatives. More recently, however, psychologists and other social scientists have begun to dig deeper into the underpinnings of liberal discontent — not only unhappiness, but also depression and other measures of dissatisfaction.

Persons: —

☆ Biden Looks to Thwart Surge of Chinese Imports
▼ + stars: | 2024-05-08 | by ( Jim Tankersley | ) www.nytimes.com time to read: +1 min

President Biden is warning that a new surge of cheap Chinese products poses a threat to American factories. China’s lavish subsidies, including loans from state-run banks, have helped sustain companies that might otherwise have folded in a struggling domestic economy. The result is, in many cases, a significant cost advantage for Chinese manufactured goods like steel and electric cars. The U.S. solar industry is already struggling to compete with those Chinese exports. Chinese exports are washing over the continent, to the chagrin of political leaders and business executives.

Persons: Biden Locations: United States, China, Europe, U.S

☆ A Gen Xer struggles to afford housing and groceries, but her income is about $100 too high to get help
▼ + stars: | 2024-05-08 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

The couple is part of a growing number of Americans who live above the federal poverty line but struggle to afford basic necessities. The poverty line isn't adjusted to reflect cost-of-living differences in individual cities or states and is set at $20,440 a year for a family of two. Binkley is trying to "make ends meet," hopes to leave Minnesota one dayPrimarily, Binkley said she struggles with her rent and utility bills. AdvertisementFor food, Binkley said she is especially thankful for her local food pantries, where she often goes to pick up canned goods. "That is one thing that keeps driving me to make my payments, get things caught up, and set a little bit aside each week or each month, Binkley said.

Persons: —, Melinda Binkley, she's, Binkley, doesn't, ALICE, She's Organizations: Service, Business, Survey, United Way's, Medicare Locations: Stillwater , Minnesota, Minnesota, Idaho

☆ Marjorie Taylor Greene isn't so powerful after all
▼ + stars: | 2024-05-08 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Read previewRep. Marjorie Taylor Greene is backing off her threat to oust Speaker Mike Johnson — for now. It was already unlikely that Ukraine aid would come up again this year after Congress approved another $60 billion last month. It was already unlikely that Ukraine aid would come up again this year after Congress approved another $60 billion last month. House Republicans already have a rule requiring this, though it's been violated a number of times, including on Ukraine aid. House Republicans already have a rule requiring this, though it's been violated a number of times, including on Ukraine aid.

Persons: —, Marjorie Taylor Greene, Mike Johnson —, Johnson, Thomas Massie of, it's, Donald Trump, Joe Biden, Greene, Trump, Kevin McCarthy, sapping Organizations: Service, Georgia Republican, Business, House Republicans, Republicans, of, Democratic, Republican, Democrats Locations: Thomas Massie of Kentucky, Ukraine

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