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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy so many U.S. cities are in financial troubleSpending cuts are occurring across many U.S. cities as inflation lingers and pandemic-era stimulus dries up. At least 53 major cities have debt obligations that outstrip assets, according to an estimate from Truth in Accounting. The nonprofit group estimates higher debt burdens than many public officials acknowledge because of allegedly underreported retiree benefits. The rising public debt may potentially leave future generations on the financial hook for decisions made by today's leaders.

Organizations: today's Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow floodplain buyouts workThe U.S. government is buying up and destroying American homes. Homeowners in the floodplain are choosing to voluntarily sell their doomed properties to the government. Since 1989, FEMA has helped fund around 45 to 50,000 home buyouts. FEMA is estimated to have spent somewhere around $4 billion on the project so far but that's just a fraction of the total amount spend on buyouts, since there are programs outside of FEMA. But not everyone is convinced buyouts are a good idea.

Organizations: Homeowners, FEMA Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhere a $100,000 salary still buys the American DreamMore than half (52%) of Americans say they would need at least $100,000 a year to be financially comfortable, according to the August 2023 CNBC Your Money Survey. It's becoming increasingly more difficult to achieve the American Dream, especially as younger generations are beginning their adulthood with thousands of dollars in student loans. Watch the video above to learn more about how much it costs to achieve the American Dream.

Organizations: Survey

☆ Why a $100,000 income no longer buys the American Dream in most places
▼ + stars: | 2024-04-16 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +1 min

"The benchmark of a six-figure salary used to be the gold standard income," Sabrina Romanoff, a clinical psychologist, told CNBC. "It represented the tipping point of finally earning a disposable income and building savings and spending based on your wants, not just your needs." "It becomes increasingly hard for many families to be able to attain that sort of middle-class lifestyle, that American Dream," Gould said. Consumers using the popular 50-30-20 budget guideline aim to spend 50% of their income on essential expenses, with another 30% for discretionary spending and the remaining 20% for savings. Using that framework, GoBankingRates found that all 50 states require more than a $100,000 annual income, according to the report, with 38 states needing more than $140,000.

Persons: Sabrina Romanoff, haven't, Elise Gould, Gould, GoBankingRates, Jason Reginato Organizations: CNBC, SurveyMonkey, Economic Policy Institute, Consumers

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Congress is regulating artificial intelligenceSome businesses using new artificial intelligence tools have reported big gains in labor productivity. These AI assistants, backed by some of the biggest names in tech, could someday change how work gets done in the U.S. As the technology shuffles up white-collar work in the U.S., some policymakers are pitching ideas like 32-hour work weeks and robot taxes. Meanwhile, other countries are banning high-risk uses of AI in sectors like education and financial services.

Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCan Kraft Heinz manage a comeback? Food titan Kraft Heinz is still reeling from past mistakes stemming from its 2015 mega-merger as it seeks to transform itself into a stronger company. The packaged food conglomerate took down a lot of loses in 2019 forcing it to pivot, but has it course corrected enough to adapt to changing consumer tastes, high inflationary times and private labels?

Persons: Kraft Heinz

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the Boeing 737 Max has been such a messBoeing's 737 has been around since the 1960s. There have been many variations of the aircraft but the 737 Max, which debuted in 2017, has encountered problem after problem over the last five years. From two fatal Max 8 crashes in 2018 and 2019 to the more recent incident of a door plug falling off a plane during take off from Portland, Oregon. CNBC explores how the 737 Max crisis unfolded and what the future holds for Boeing's best-selling jet.

Persons: Max Organizations: Boeing, CNBC Locations: Portland , Oregon

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy hybrid sales are surgingAs of early 2024, EV sales are leveling off and hybrids are making a comeback. Automakers such as Ford, BMW, Mercedes, Hyundai and General Motors are all pulling back on EV production or boosting hybrid manufacture, or both. Toyota and Honda are seeing sales jump. The vast majority of hybrids are standard - with an engine and backup battery. Automakers such as GM are reintroducing them to North America.

Organizations: Ford, BMW, Mercedes, Hyundai, General Motors, Toyota, Honda Locations: North America

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's how you know it's time to leave your jobA majority of Americans, 95%, said they plan to look for a new job in 2024, according to a survey by job site Monster. Money's a big part of this: 45% of American workers say they need a higher income. Data from the Federal Reserve shows that job switchers increase their salary more quickly on average than those who stay put, but hiring professionals say it's still important for candidates to be strategic when making career moves.

Organizations: Federal Reserve

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy shipping containers can fuel inflationContainer shipping is responsible for moving 90% of the world's goods, according to the World Economic Forum. But, if shipping containers aren't at the right place at the right time, the global supply chain may face serious problems. It could result in high inflation, shortages of key materials and products as well as revenue losses to large and small businesses alike.

Organizations: Economic

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why tire companies love EVsThe tire business is a business of low growth, low margins and extreme competition. Tire makers are at the mercy of of raw material prices. And about half of customers are largely indifferent to the brand of tires they buy. But industry analysts say EVs provide tire makers with the biggest growth opportunity they have seen in decades. AlixPartners estimates that tires on EVs require 20 percent more frequent replacement and can cost 50 percent more.

Persons: Price

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the U.S. can't solve immigration2023 saw record-breaking numbers of migrant crossings at the southwestern border, with Border Patrol reporting nearly 250,000 encounters in December alone. But today, less than 1% of those looking to reside permanently in the U.S. can do so legally, according to the CATO institute. Transactional Records Access Clearinghouse estimates that the immigration court currently has a backlog of over 3 million cases. So how did the immigration system in the U.S. get so broken? And can it ever be fixed?

Persons: CATO Organizations: Border Patrol Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the immigration crisis is bankrupting U.S. citiesThe ongoing migrant crisis is unprecedented, both in scale and the effect it has had beyond the border states to cities located deep within the country. Major cities such as New York, Denver and Chicago are finding themselves under extreme financial pressure, exacerbated by the lack of federal funding or assistance. So just how long can cities withstand the recent surge of migrants and what do they need to end the crisis?

Locations: U.S, New York, Denver, Chicago

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe surprising success of Monster Energy drinksMonster Beverage Corporation, also known as "Monster," is the best-performing stock in 30 years, even over tech giants Google, Apple, Nvidia and Microsoft. Its slow and steady growth can be attributed to strong leadership, a smart marketing strategy and a partnership with one of the biggest beverage distributors in the world, The Coca-Cola Company.

Organizations: Monster Energy, Monster Beverage Corporation, Google, Apple, Nvidia, Microsoft, Cola Company

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCar ownership is getting more expensive due to rising repair costsAuto repair costs have been rising for years. Experts say it's likely a mix of factors: heavier, faster and more complex vehicles, riskier driving behavior, new technology and labor and supply shortages. Repair shop owners say they can't find enough technicians despite paying six-figure salaries. As technology marches on, and fancy cutting-edge EVs fill roads, consumers hear horror stories about huge repair bills. But insiders say there's reason to be optimistic.

Organizations: Auto

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLas Vegas has invested billions to become a sports and entertainment hubLas Vegas has slowly transformed into more than just a gambling stopover. With a massive investment into professional sports and an entertainment scene, Sin City has become a global destination hub. Its latest offerings include a new entertainment arena, the Sphere; Allegiant Stadium, which hosts the NFL's Las Vegas Raiders; F1; and other major professional sports teams. Now it's hosting Super Bowl 58.

Organizations: Vegas, Las Vegas Raiders Locations: Vegas, Sin City

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe hidden reason some U.S. homes are losing valueMany homeowners in the U.S. are losing their home insurance policies. Major insurers like State Farm and Allstate are no longer offering new policies in California. State Farm attributes this to increased wildfire risk, inflation and other challenges in the region. Louisianan and Floridian homeowners are facing similar issues due to flood risk. Watch the video to learn more about why homeowners are receiving non-renewal notices and what that means for the U.S. real estate market.

Organizations: Farm, Allstate, U.S Locations: U.S, California ., Louisianan

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow cargo thieves are infiltrating U.S. supply chainsCargo thieves are stealing millions of dollars worth of goods every year. Strategic cargo theft is surging, where criminals engage in identity theft and internet-based fraud. CNBC visited supply chain risk management company Overhaul's Louisville, Kentucky, operations to get an inside look at how the industry is fighting back. Watch the video above to learn more.

Organizations: CNBC Locations: U.S, Louisville , Kentucky

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why the U.S., China, India, Japan and others are rushing back to the moonTo date, only five nations, the U.S.,Russia, China, Japan and India, have completed a successful soft landing on the moon. But bolstered by evidence of the presence of water and other natural resources, many more nations and private companies are now seeking to get to the moon. And whoever is able to establish a significant lunar presence first could have big implications on Earth as well as the cosmos.

Locations: U.S, China, India, Japan, Russia

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe business behind budget airlines like Ryanair and SpiritThe low-cost business model was first implemented by Pacific Southwest Airlines in 1949 and perfected by Southwest Airlines in the early 1970s. Today, low-cost carriers like Ryanair in Europe and Spirit Airlines in the U.S. make up almost a third of all global airline capacity. These airlines use several strategies to keep costs down including limiting their amenities to the bare minimum and charge for add-ons such as seat selection, food and luggage.

Organizations: Ryanair, Pacific Southwest Airlines, Southwest Airlines, Spirit Airlines Locations: Europe, U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Apple doubled down on the expensive custom chip business, edging out Intel and starting a trendApple has designed its own custom chips for iPhones since 2010, kicking off a trend followed by other non-chip giants like Google, Microsoft, Amazon and Tesla. In November, CNBC became the first journalists to film inside an Apple chip lab, where it tests its latest M3 chips that replaced Intel processors in all new Macs. We also got a rare chance to talk with Apple's head of silicon, Johny Srouji, about geopolitical risks in Taiwan, slowdowns, and what's next in AI.

Persons: what's Organizations: Intel, Apple, Google, Microsoft, CNBC Locations: Taiwan

☆ How safe is tap water in the U.S.?
▼ + stars: | 2023-11-30 | by ( Lindsey Jacobson | Jason Reginato | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow safe is tap water in the U.S.? The U.S. ranks only 23rd in the world for safe drinking water, which is near the bottom of comparable nations. There are issues with both what is in tap water and how it is transported. Toxins like PFAS, arsenic and lead pollute some drinking water. Watch the video to find out how safe tap water is in the U.S., how to protect yourself and how investments can clean up U.S. water.

Organizations: U.S, EPA Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmerica's firetrucks are becoming electrified. Here's howOshkosh Corporation is an $8.3 billion maker of firetrucks, tactical vehicles, news vans, mail trucks and construction lifts, among other things. Its Pierce brand is the largest maker of firetrucks in North America. Between 2012 and 2021, home fires alone took nearly 3,000 lives, caused more than 11,000 injuries and nearly $9 trillion in damage. It won a $3 billion contract to build the next generation USPS delivery truck.

Persons: Pierce Organizations: Oshkosh Corporation, USPS Locations: Oshkosh, North America

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy getting divorced costs so muchDivorces are not uncommon in the U.S. They're also not cheap. While no one plans on getting divorced, if you have to get divorced there are ways to keep your costs down. Watch this video to learn what you can do to prevent your divorce from being a significant financial burden on yourself and your family.

Persons: They're Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow the U.S. lost thousands of high-skilled workers to CanadaIn July, Canada opened applications for a pilot program that would allow up to 10,000 H-1B visa holders in the U.S. to apply for a three-year open-work permit in Canada. Since then, more than 6,000 high-skilled U.S. foreign workers have arrived in Canada. CNBC spoke with several foreign tech workers and immigration consultants to uncover the story of how the U.S.'s bureaucratic visa process pushed thousands of high-skilled workers north.

Organizations: CNBC Locations: U.S, Canada

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