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☆ Joseph Stiglitz on why America's appetite for Trump endures
▼ + stars: | 2024-05-01 | by ( William Edwards | ) www.businessinsider.com time to read: +12 min

If Trump is elected again, Stiglitz said, he could well pull support for Ukraine, sending grain prices soaring. For Stiglitz, the 2001 winner of the Nobel Prize in economics, America's appetite for Trump can be traced back a little more than four decades ago to the election of Ronald Reagan. "We've had 40 years of a neoliberal experiment: Strip away the regulations and lower the taxes — taxes are much lower than they used to be. But Komlos and Stiglitz don't place blame solely on Reagan for the growing economic inequality. Every European country that's had a wealth tax has walked away from it, by and large."

Persons: Donald Trump, Joseph Stiglitz, Trump, Stiglitz, Joe Biden, Ronald Reagan, —, that's, Reagan, We've, Dina Litovsky, Friedrich Hayek, Milton Friedman, That's, Stiglitz doesn't, John Komlos, Komlos, Joe, Bill Clinton, Clinton, Barack Obama, insurrectionists, Desmond Lachman, Carter, Douglas Holtz, Eakin, George W, John McCain's, Holtz, America Stiglitz, Hayek, Friedman, Claudia Sahm, you've, what's Organizations: Columbia Business School, Business, Capitol, Biden, Trump, :, Good Society, America's, Federal Reserve, Budget, Bank, University of Munich, Duke University, University of North, Democratic, North American Free Trade, World Trade Organization, American Enterprise Institute, Bush's, Economic Advisers Locations: Manhattan, Ukraine, Russia, China, Beijing, Taiwan, University of North Carolina, Spain, America

☆ Biden's proposals to tax high earners not sensible from long term perspective: Douglas Holtz-Eakin
▼ + stars: | 2024-04-25 | 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 EmailBiden's proposals to tax high earners not sensible from long term perspective: Douglas Holtz-EakinHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Douglas Holtz, Brian Sullivan, “ Organizations: CNBC

☆ Lawmakers' next move on taxes
▼ + stars: | 2024-04-12 | 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 EmailLawmakers' next move on taxesDouglas Holtz-Eakin, president of the American Action Forum, joins 'Squawk Box' to discuss why he believes the 2017 tax act was a pivotal moment in tax policy, what lawmakers should do before the act expires, and more.

Persons: Douglas Holtz, Eakin Organizations: Lawmakers, American Action

☆ Cruise lines' private islands are having a renaissance. These are the 3 reasons they need it now more than ever before.
▼ + stars: | 2024-03-23 | by ( Brittany Chang | ) www.businessinsider.com time to read: +8 min

To cruise lines, they're cash cows. Related storiesThese are the three reasons cruise-run private destinations have become so important. Amid rising fuel costs, it's easy to see why cruise lines would want to plan more itineraries around these nearby stops. Private destinations keep profits in-houseThe bar had two halves: one on land and the other at pool level. And because there's no need to rely on other excursion operators, they allow cruise lines to keep more profits in-house.

Persons: —, Patrick Scholes, Michael Bayley, Naftali Holtz, it's, Scholes, wouldn't, Linken D'Souza, Brittany Chang, Josh Weinstein, Jason Liberty, Simone Padovani, CHANDAN KHANNA, They're Organizations: Service, Royal, Business, Truist Securities, Disney Cruise Line, Disney Cruise, Holland America, MSC, Royal Caribbean International, Royal Caribbean Group, Beach, cabanas, Carnival Corp, Private, Hideaway, Disney, Key, Getty Locations: Miami, Bahamas, CocoCay, Caribbean, Honduras, Belize, Eleuthera, Cay, Holland, Royal Caribbean, Paradise, Nassau, Florida, cabanas, Royal, Orlando, Venice, Italy's Giudecca, Santorini, Greece, Key West , Florida, California, Alaska , Maine, Europe, Juneau , Alaska, French Polynesia, Italy

☆ We're looking at 'slow at best' growth in 2024, says former OMB Director Douglas Holtz-Eakin
▼ + stars: | 2023-11-30 | 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 EmailWe're looking at 'slow at best' growth in 2024, says former OMB Director Douglas Holtz-EakinBharat Ramamurti, former White House National Economic Council deputy director, and Douglas Holtz-Eakin, American Action Forum president and former Office of Management and Budget director, join 'Squawk Box' to discuss October's PCE inflation data, the state of the U.S. economy, and more.

Persons: Douglas Holtz, Bharat Ramamurti Organizations: White, National Economic Council, Action, of Management Locations: U.S

☆ NHL roundup: Rangers' offense buries Bruins
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +5 min

Nov 25, 2023; New York, New York, USA; New York Rangers left wing Chris Kreider (20) takes a shot at Boston Bruins goalie Linus Ullmark (35) during the third period at Madison Square Garden. Nick Bonino and Tyler Pitlick added their first goals as Rangers, while Jonathan Quick made 27 saves. Charlie Coyle scored twice while Morgan Geekie had a goal and an assist for Boston, which has lost consecutive games in regulation. Ty Emberson scored his first career NHL goal and Fabian Zetterlund also tallied for the Sharks, who sit last in the league. Lawson Crouse scored his 10th goal of the season, all in November, and Clayton Keller also scored for Arizona.

Persons: Chris Kreider, Linus Ullmark, Danny Wild, Chris Kreider's, Kreider, Miller, Jimmy Vesey, Artemi, Vincent Trocheck, Nick Bonino, Tyler Pitlick, Jonathan Quick, Charlie Coyle, Morgan Geekie, David Pastrnak, James van Riemsdyk, Pheonix Copley, Copley, Trevor Moore, Carl Grundstrom, Trevor Lewis, Pierre, Luc Dubois, Montreal's Jake Allen, Tyler Toffoli, Alexander Holtz, Nico Hischier, Ondrej Palat, Dawson Mercer, Vitek Vanecek, Jeff Skinner, Kyle Okposo, Eric Comrie, Devon Levi, Erik Karlsson, Jake Guentzel, Noel Acciari, Tyler Bertuzzi, Matthew Knies, Tyson Foerster, Samuel Ersson, Kyle Palmieri, Foerster, Ilya Sorokin, Sorokin, Nathan MacKinnon, Jonathan Drouin, Ryan Johansen, Ivan Prosvetov, Mikael Backlund, Dan Vladar, Mikael Granlund, Mike Hoffman, Ty Emberson, Fabian Zetterlund, Kaapo Kahkonen, Tomas Hertl, Calen Addison, Brock Boeser, Filip Hronek, Casey DeSmith, Connor Ingram, Lawson Crouse, Clayton Keller, Logan Thompson Organizations: New York Rangers, Boston Bruins, Rangers, Boston, Bruins, Canadiens, Los Angeles, Montreal, Pittsburgh Penguins, Kings, Devils, Sabres, New Jersey, Buffalo, Penguins, Maple Leafs, Pittsburgh, Toronto, Flyers, Islanders, Philadelphia, Avalanche, Flames, Colorado, Calgary, Sharks, Canucks, Vancouver, NHL, Coyotes, Golden Knights, Arizona, Vegas, Thomson Locations: New York , New York, USA, Madison, New, Elmont, N.Y, Denver, Colorado, Jose, Las Vegas

☆ NHL roundup: Lightning's Andrei Vasilevskiy wins season debut
▼ + stars: | 2023-11-25 | by ( ) www.reuters.com time to read: +12 min

Jake DeBrusk and Danton Heinen scored for Boston, which had gained points in seven straight games since a 5-4 loss in Detroit on Nov. 4. Kiefer Sherwood had a goal and two assists for the Predators, who won their fourth straight game. Ryan Nugent-Hopkins scored one goal and added two assists, while Evander Kane and Evan Bouchard also scored for the Oilers. Johnathan Kovacevic also scored and Cayden Primeau made 31 saves for Montreal, which won its second straight road game. Kirill Kaprizov had a goal and an assist and Joel Eriksson Ek also scored for Minnesota, which lost its sixth straight game.

Persons: Andrei Vasilevskiy, James Guillory, Nikita Kucherov, Steven Stamkos, Brandon Hagel, Luke Glendening, Hagel, Stefan Noesen, Michael Bunting, Antti Raanta, Vasilevskiy hadn't, Conn Smythe, Kevin Korchinski, Connor Bedard's, Ilya Samsonov, Korchinski, Jason Dickinson, Arvid Soderblom, Nicholas Robertson, Calle Jarnkrok, Ryan Reaves, Max Domi, Alex DeBrincat, Compher, Robby Fabbri, Dylan Larkin, David Perron, Shayne Gostisbehere, Ville Husso, Jake DeBrusk, Danton Heinen, David Pastrnak, Jeremy Swayman, Mika Zibanejad, Chris Kreider, Zibanejad, Kreider, Igor Shesterkin, Sean Couturier, Luke Evangelista, Filip Forsberg, Louis, Kiefer Sherwood, Ryan O'Reilly, Yakov Trenin, Spencer Stastney, Alexandre Carrier, Kevin Lankinen, Pavel Buchnevich, Robert Thomas, Jake Neighbours, Kevin Fiala, Cam Talbot, Anze Kopitar, Arthur Kaliyev, Quinton Byfield, Adrian Kempe, Trevor Moore, Drew Doughty, Kopitar, Marcel Dionne, Radko Gudas, Alex Killorn, John Gibson, Elvis Merzlikins, Merzlikins, Jack Hughes, Jesper Bratt, Eric Robinson, Boone Jenner, Alexander Holtz, Akira Schmid, Leon Draisaitl, Connor McDavid, Stuart Skinner, Ryan Nugent, Hopkins, Evander Kane, Evan Bouchard, Zach Hyman, Charlie Lindgren, Cole Caufield, Jesse Ylonen, Johnathan Kovacevic, Cayden Primeau, William Eklund, Tomas Hertl, Mike Hoffman, Mackenzie Blackwood, Eklund, Nick Suzuki, Hoffman, Ylonen, Blackwood, Connor Hellebuyck, Nino Niederreiter, Nikolaj Ehlers, Adam Lowry, Hellebuyck, Sergei Bobrovsky, Aleksander Barkov, Blake Coleman, Elias Lindholm, Yegor Sharagovich, A.J, Greer, Adam Ruzicka, Calgary's Mikael Backlund, Nazem Kadri, Andrew Mangiapane, Jacob Markstrom, Wyatt Johnston, Jason Robertson, Joe Pavelski, Jamie Benn, Evgenii, Jake Oettinger, Kurtis MacDermid's, Ross Colton, Valeri Nichushkin, Alexandar Georgiev, Kirill Kaprizov, Joel Eriksson Ek, Filip Gustavsson, Alex Tuch, Jeff Skinner, Tuch, Kyle Okposo, Victor Olofsson, Ukko, Pekka Luukkonen, Sidney Crosby, Lars Eller, Alex Nedeljkovic, Mathew Barzal, Anders Lee, Kyle Palmieri, Oliver Wahlstrom, Simon Holmstrom, Alexander Romanov, Brock Nelson, Semyon Varlamov, Drake Batherson, Tim Stutzle, Mathieu Joseph, Anton Forsberg, Sam Lafferty, Thatcher Demko, Teddy Blueger, Dakota Joshua, Nils Hoglander, Ilya Mikheyev, Nils Aman, Conor Garland, Tye Kartye, Joey Daccord Organizations: Tampa Bay, Carolina Hurricanes, PNC Arena, Tampa Bay Lightning, Tampa, Hurricanes, NHL, Blackhawks, Maple Leafs, Chicago, Toronto, Red Wings, Bruins, Detroit, Boston, Rangers, Flyers, Philadelphia, Metropolitan Division, Blues, Nashville, St, Predators, Ducks, Los, Anaheim, The Buffalo Sabres, Kings, Blue Jackets, Devils, Oilers, Capitals, Edmonton, Washington, Canadiens, Montreal, San, Jets, Panthers, Winnipeg, The Jets, Vezina, Florida, Flames, Calgary, Dallas, Stars, Avalanche, Colorado, Minnesota, Penguins, Buffalo, Pittsburgh, Sabres, Islanders, Senators, Ottawa, Canucks, Vancouver, Seattle, Thomson Locations: Raleigh , North Carolina, USA, Raleigh, N.C, Tampa Bay, Toronto, Detroit, New York, Los Angeles, Columbus, Newark , N.J, Jose, San Jose, Winnipeg, Sunrise, Fla, Florida, Saint Paul, Dakota

☆ David Attenborough finds the AI version of himself 'personally distressing'
▼ + stars: | 2023-11-20 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

A video of an AI version of David Attenborough narrating a programmer's life went viral on X.Attenborough told Business Insider he found the video "personally distressing." The filmmaker said he's concerned an AI version of him could be used to deceive others. AdvertisementOn Wednesday, a programmer named Charlie Holtz shared a video on X that showcased an AI-generated version of David Attenborough narrating Holtz's life. In addition to sharing the video online, Holtz also shared the code he used to create his AI-Attenborough. Holtz 's video has been watched more than 3 million times, and it has already sparked interest in AI clones.

Persons: David Attenborough, Attenborough, he's, —, Charlie Holtz, @charliebholtz, Sir David Attenborough, Holtz, Meta Ray Bans, Pietro Schirano, Steve Jobs Organizations: Service, BI Locations: New York City

☆ NHL roundup: Senators edge Wings in OT in Sweden
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +6 min

Lucas Raymond, Daniel Perron, Alex DeBrincat and Shayne Gostisbehere scored four straight goals in the second period for the Red Wings. Adin Hill finished with 23 saves for Vegas, which extended its winning streak against Montreal to six games. Lukas Reichel and Corey Perry scored goals for Chicago, which took its third loss in four games. Bryan Rust scored twice for the Penguins, who had their five-game winning streak snapped. Givani Smith and Luke Kunin each had a goal and an assist for the Sharks, who snapped the Blues' three-game winning streak.

Persons: Tim Stutzle, Nikita Zadorov, Marc DesRosiers, Drake Batherson, Stutzle, James Reimer, Brady Tkachuk, Jake Sanderson, Josh Norris, Joonas Korpisalo, Lucas Raymond, Daniel Perron, Alex DeBrincat, Shayne Gostisbehere, Gostisbehere, Reimer, Mark Stone, Shea Theodore, Jack Eichel, Jonathan Marchessault, Brett Howden, Brayden McNabb, Adin Hill, Jesse Ylonen, Alex Newhook, Johnathan Kovacevic, Justin Barron, Nick Suzuki, Mike Matheson, Cayden Primeau, Victor Hedman, Chicago . Former Blackhawk Brandon Hagel, Hedman, Mikhail Sergachev, Lukas Reichel, Corey Perry, Elias Lindholm, Jonathan Huberdeau, MacKenzie Weegar, Dillon Dube, Noah Hanifin, Jacob Markstrom, Blake Coleman, Elias Pettersson, Nils Hoglander, Casey DeSmith, Kevin Fiala, Anze Kopitar, Cam Talbot, Sam Reinhart, Sergei Bobrovsky, Kailer Yamamoto, Matty Beniers, Alex Wennberg, Philipp Grubauer, Anders Lee, Casey Cizikas, Noah Dobson, Semyon Varlamov, Lawson Crouse, Barrett Hayton, Logan Cooley, Connor Ingram, Damon Severson, Elvis Merzlikins, Curtis Lazar, Jesper Bratt, Nathan Bastian, Alexander Holtz, Tyler Toffoli, Erik Haula, Luke Hughes, Vitek Vanecek, Bryan Rust, Tristan Jarry, Mike Hoffman, Jose, Louis, Givani Smith, Luke Kunin, William Eklund, Kaapo Kahkonen, Pavel Buchnevich, Joel Hofer, Jordan Binnington Organizations: CAN, Ottawa Senators, Calgary Flames, Canadian Tire Centre, Detroit Red Wings, NHL Global, Sweden, Wings, Ottawa, Red Wings, Golden Knights, Canadiens, Vegas, Montreal, Blackhawks, Tampa Bay, Chicago . Former Blackhawk, Tampa, Chicago, Flames, Canucks, Calgary, Vancouver, Western Conference, Panthers, Islanders, Seattle, New, Coyotes, Blue Jackets, Columbus, Penguins, Pittsburgh, Devils, . New, Sharks, Blues, San, Thomson Locations: Ottawa , Ontario, Stockholm, Angeles, Florida, Los Angeles, New York, Arizona, New Jersey, ., . New Jersey, San Jose

☆ This video of David Attenborough narrating a programmer's life shows Hollywood actors were right to be afraid of AI
▼ + stars: | 2023-11-16 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +4 min

A programmer has created an AI version of David Attenborough to narrate his life. AdvertisementIf you've ever wanted acclaimed broadcaster and documentary filmmaker Sir David Attenborough to narrate your life, you're not alone — and you don't have to keep merely wishing for it anymore. He's been posting quirky experiments with AI on X — like one that uses AI to recommend how you should correct your posture. And it's made possible by combining OpenAI's GPT-4-vision — an AI model that can describe what it sees — and code from Elevens Lab, an AI voice startup. One X user wrote, "I'm going to get David Attenborough to narrate videos of my baby learning how to eat broccoli."

Persons: David Attenborough, Salma Hayek —, —, you've, Sir David Attenborough, Charlie Holtz, Holtz, Attenborough, @charliebholtz, Salma Hayek, Annie Murphy —, it's, Justine Bateman, Bateman Organizations: Service, Elevens Lab, Hollywood, Actors

ARLINGTON, Texas (AP) — Thousands of Texas Rangers fans were already lined up along a 2-mile stretch near the team's ballpark hours before a parade Friday to celebrate the franchise's first World Series championship. The parade comes two days after the Rangers wrapped up the World Series with a 5-0 win on the road in Game 5 against the Arizona Diamondbacks. It came a week after Texas won the series opener on an 11th-inning homer by Adolis García after Corey Seager hit a two-run homer in the ninth inning to tie the game. World Series MVP Seager, AL Championship Series MVP García and all of the Rangers players were expected to participate in the parade in the entertainment district of Arlington, the city where they play along Interstate 30 halfway between downtown Fort Worth and downtown Dallas. All-Star second baseman Marcus Semien exited first, hoisting the World Series trophy into the air as he stepped out of the plane.

Persons: Adolis García, Corey Seager, Seager, García, Marcus Semien, Mark Holtz Lake, Arlington Mayor Jim Ross, ___ Organizations: Texas Rangers, Rangers, Arizona Diamondbacks, Texas, The Rangers, Life, T, Dallas Cowboys, Arlington Mayor, Senators Locations: ARLINGTON , Texas, Arlington, Fort Worth, Dallas, North Texas, Texas

Notre Dame needed one stop to beat then-No. 6 Ohio State for the first time since 1936, and yet it couldn't finish the job. We've got to finish that game.”Chalk it up as yet another learning experience for the second-year Irish coach and his players. Political Cartoons View All 1176 ImagesA year ago, Freeman lost his first two games, at Ohio State, his alma mater, followed by an inexplicable home loss to Marshall. Notre Dame also wound up as one of three teams Stanford beat.

Persons: Marcus Freeman's, Notre Dame, ” Freeman, “, We've, Freeman, Marshall, Notre, Sam Hartman, Hartman, Lou Holtz, Tim Brown, Rico Flores, Kyle McCord, couldn't, ” Organizations: Notre, Ohio State, Buckeyes, Irish, Associated Press, Notre Dame, Stanford, Rico Flores Jr, AP Locations: Ind, Credit, Flores, Ohio

6 Ohio State beat No. 9 Notre Dame 17-14 on Saturday night. Notre Dame still hasn't beaten Ohio State since 1936. Notre Dame: Receiver Jayde Thomas also went to the injury tent when he was rolled up while blocking on an 18-yard run on Notre Dame's touchdown drive. Notre Dame: Plays a second straight ranked opponent next Saturday when it visits No.

Persons: Chip Trayanum, Kyle McCord, Ryan Day, Lou Holtz, “, ”, It’s, We’ve, Sam Hartman, Rico Flores Jr, hasn't, Hartman, Marvin Harrison Jr, TreVeyon Henderson, Gi'Bran Payne, Flores, McCord, Henderson, Harrison, Jayde Thomas, Duke Organizations: Ohio State, Notre Dame, Buckeyes, Fighting Irish . Ohio, Irish, NBC, Ohio, Notre, Ten, Maryland, AP Locations: Ind, Ohio

☆ Sen. Tommy Tuberville is still earning royalties from 'The Blind Side' as tensions flare over the truthfulness of the story 14 years after the movie's release
▼ + stars: | 2023-08-16 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Fourteen years after its release, Sen. Tommy Tuberville is still earning royalties from "The Blind Side." In the movie, Tuberville briefly plays the role of himself as he tries to recruit Michael Oher to commit to Auburn University. Oher recently filed court documents alleging that he was misled by the family who brought him. According to a recently-file annual report of his personal finances, Tuberville earned $1,750.55 in royalties in 2022 from "WB Studio Enterprises Inc." in connection to the movie. Oher recently alleged in court documents that he was "exploited" by the Tuohy family, who he said never actually adopted him.

Persons: Sen, Tommy Tuberville, Tuberville, Michael Oher, Oher, he's, —, Nick Saban, Ed Orgeron, Lou Holtz, Sandra Bullock, Leigh Anne Tuohy, Sean Tuohy, Michael Organizations: Auburn University, Service, WB, Enterprises Inc, National Football League Locations: Wall, Silicon, Tennessee

☆ UAW will have to get public policy aid for some issues raised, says labor expert Marick Masters
▼ + stars: | 2023-08-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUAW will have to get public policy aid for some issues raised, says labor expert Marick MastersMarick Masters, Wayne State business professor, and Douglas Holtz-Eakin, American Action Forum president, joins 'Last Call' to talk the UAW's upcoming contract negotiations with automakers.

Persons: Marick, Douglas Holtz Organizations: UAW, Wayne, Action Locations: Wayne State

☆ Up to 1.7 billion T. rex dinosaurs lived on Earth, a new study found. But scientists aren't sure where all the bones went.
▼ + stars: | 2023-05-27 | by ( Erin Heger | ) www.businessinsider.com time to read: +5 min

New calculations suggest that 1.7 billion T. rexes lived on Earth from 65.5-68 million years ago. This dichotomy between how many T. rexes lived and how few fossils we have of them shows us just how rare fossilization is and how much more we have to learn about these majestic creatures. Warpaintcobra/Getty ImagesMarshall was the lead author of an earlier study that estimated 2.5 billion T. rexes once roamed Earth. Of the roughly 1.7 billion, or so, T. rexes who roamed our planet, scientists have only uncovered a few hundred fossils, equating to fewer than 100 total dinosaurs. Despite their prime conditions for fossilization, if Giebeler's calculations are correct, scientists have only found about 0.0000002% of the T. rex that lived on Earth.

☆ Fmr. CBO Director Douglas Holtz-Eakin: Short-term debt ceiling extension very likely at this point
▼ + stars: | 2023-05-08 | 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 EmailFmr. CBO Director Douglas Holtz-Eakin: Short-term debt ceiling extension very likely at this pointDouglas Holtz-Eakin, American Action Forum president and former CBO director, and former U.S. congresswoman Donna Edwards join 'Squawk Box' to discuss the latest in debt ceiling negotiations, and whether a deal can be reached at Tuesday's White House meeting.

☆ Forget the pension protests. France’s economy has momentum
▼ + stars: | 2023-04-30 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

France’s economy grew 0.2% in the first quarter of this year, its national statistics agency said Friday, after stagnating in the previous quarter. Yet the long-running protests are unlikely to leave a lasting dent in France’s economy, according to Charlotte de Montpellier, a senior economist at Dutch bank ING. But its $2.8 trillion economy has held up comparatively well. Office buildings illuminated in the La Defense business district of Paris, France, on Monday, Feb. 6, 2023. ‘Momentum’ building for banksBritain’s exit from the European Union has also been a boon for France’s financial sector.

"Not only are these big banks not sitting around and waiting for the phone to ring, they are also being proactive." Amid the nation's most troubling turmoil in banking since the global financial crisis nearly 15 years ago, the big banks are flexing their collective muscle. The 2008 financial crisis humbled the banking behemoths; the 2023 crisis of regional banks has now only cemented their power. For an increasingly stretched financial system, the big banks provide a needed stability. The flight to safety that is benefiting the big banks will have a cost, however.

☆ Economists, activists warn lawmakers of looming debt default if Congress cannot agree to raise the debt ceiling
▼ + stars: | 2023-03-07 | by ( Chelsey Cox | ) www.cnbc.com time to read: +5 min

Mark Zandi, chief economist at Moody's, said an impending default would "be a catastrophic blow to the already fragile economy." "Given the dramatic reduction in government spending in this scenario and the already fragile economy, the economy suffers a recession in 2024. "Bond investors, unsure of how this legal uncertainty would be resolved would demand a much higher interest rate in compensation. In his opening remarks, Holtz-Eakin also said that skirting default would have "serious and adverse economic effects." "House Republicans don't seem concerned about the upcoming debt limit deadline," Warren said in her opening remarks.

☆ Royal Caribbean rides 'wave' to record bookings after smaller loss
▼ + stars: | 2023-02-07 | by ( Ananya Mariam Rajesh | ) www.reuters.com time to read: +2 min

Feb 7 (Reuters) - Royal Caribbean Group (RCL.N) said on Tuesday it was set for record bookings during the January-March period after the company posted a smaller-than-expected quarterly loss on pent-up travel demand. Cruise liners have reported strong booking volumes from well-to-do Americans for the so-called "wave season", a period between January and March where operators offer special cruise deals and discounts for the year. Royal Caribbean said North America sailings were booked in line with record 2019 levels for the full year, while bookings for European itineraries accelerated during the wave season and were higher than 2019. The cruise operator's booking volumes in the fourth quarter were also significantly higher than the corresponding period in 2019, before the pandemic outbreak shut down the industry. It reported a fourth-quarter loss of $1.12 per share, compared with analysts' expectations of a loss of $1.34, according to Refinitiv IBES data.

A woman accused Backstreet Boys’ Nick Carter of raping her at a concert in Washington State two decades ago, when she was 17, according to a lawsuit filed Thursday. "He also said he’d turn people against me because he’s Nick Carter and he would wreck my life," the woman is quoted as saying in a news release from her lawyer, Mark Boskovich. In a statement, Michael Holtz, an attorney for Carter, called the allegations "legally meritless" and "entirely untrue." Holtz said the woman had been "manipulated into making false allegations about Nick — and those allegations have changed repeatedly and materially over time. Carter raped her a second time on a bed near the back of the tour bus while she begged him to stop, the suit alleges.

☆ Nick Carter denies rape allegation as ABC pulls Backstreet Boys holiday special
▼ + stars: | 2022-12-09 | by ( Lisa Respers France | ) edition.cnn.com time to read: +2 min

CNN —Backstreet Boys’ member Nick Carter is being sued by a 39-year-old woman with autism and cerebral palsy who says the singer raped her as a teenager on the group’s tour bus in 2001. The singer denied the allegation in a statement provided to CNN from his attorney Michael Holtz. ABC will no longer broadcast the television special “A Very Backstreet Holiday,” set to air December 14, in light of the suit. Carter faced a similar allegation in 2017 after former pop singer Melissa Schuman accused him of raping her 15 years prior. Carter, 38, denied the allegations at the time in a statement provided to CNN.

☆ Republicans pitched an economic solution. Now they'll have to deliver.
▼ + stars: | 2022-11-19 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +6 min

While Republicans sought to seize on that economic anxiety during the campaign, most candidates provided few specifics. “The GOP still doesn’t know what its economic policy is in a post-Trump world,” said Brian Riedl, who worked for six years as chief economist for Republican Sen. Biden said he has no plans to change his approach to the economy, despite voters’ sentiments, making a shift toward a compromise with Republicans on economic policy seemingly unlikely. “That means there will be a lot less economic policy. “Republicans are going to need to deliver on the economy, especially if the economy is worsening and inflation is worsening,” said Riedl.

☆ Junk-Rated Companies Search for the Right Time to Tap Investors
▼ + stars: | 2022-10-16 | by ( Nina Trentmann | ) www.wsj.com time to read: +8 min

While there is limited pressure overall as many businesses refinanced in 2020 and 2021 when funding was cheaper and investor appetite stronger, high-yield companies with immediate financing needs have to find the right time to tap investors, corporate bankers say. Adding loans and revolving-credit facilities, speculative companies have maturities of around $1.47 trillion through 2027, ratings firm Moody’s Investors Service said last week. And the high-yield bond market isn’t closed, it has just become more expensive, bankers said. Movie theater chain AMC Entertainment Holdings Inc. on Friday said that its subsidiary Odeon Finco PLC priced a $400 million bond. Bankers said they have received few calls from triple C-rated companies in recent months looking for maturity extensions.

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