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How soon is soon? As the year started, there was a widespread view among economists and on Wall Street that the Federal Reserve would lower interest rates in the first half of the year. It was called “the pivot party,” and everyone was invited. And it seems the pivot party has been canceled. But some experts argue that it has only been postponed, leaving forecasters divided about what the rest of the year will bring.
Organizations: Federal Reserve, Fed, Financial
If former President Donald Trump wins a second term in the November election, expect him to try to stay in power beyond his allotted four years, says Nobel Prize-winning economist Joseph Stiglitz. Right now, a second Trump term is a real possibility. AdvertisementInstead, Trump is more likely to declare a state of emergency, Stiglitz said, in an attempt to delay or cancel elections. The executive branch has no power to move the date of elections, according to the National Constitution Center. AdvertisementChanging an election date via Congress would need the approval of both the Senate and the House of Representatives, and the two chambers would have to come up with a new election date, per the National Constitution Center.
Persons: Donald Trump, Joseph Stiglitz, Putin, Orbán, Bolsonaro, Stiglitz, Trump, Joe Biden, Brad Raffensperger, Mike Pence, I'm, Pence, Ronald Reagan Organizations: Service, Business, Trump, RealClearPolitics, Georgia, Capitol, Republican Senate, Congress, National Constitution Center, Senate, Representatives, Constitution Center, Congressional Research Service, CRS, :, Good Society Locations: Ohio
The US economic expansion should continue in the months ahead, assuming there are no major external shocks, according to Nobel Prize-winning economist Joseph Stiglitz. Consumer spending, which makes up about two-thirds of the US economy, is still positive, and job gains have been robust. AdvertisementDespite his generally upbeat outlook, however, Stiglitz is concerned about a number of risks. 4 economic risks to watchThe first is that economic slowdowns happening elsewhere could seep into the US. Congress could shut down again, we might not get some of the necessary bills that we need to continue government," Stiglitz said.
Persons: Joseph Stiglitz, we've, Stiglitz, Brent, Mike Johnson, Trump, Putin Organizations: Service, Columbia University, Conference, Business, Republican Locations: Europe, China, Israel, Palestine, Lebanon, Iran, Ukraine, Russia, Taiwan, Eastern Europe
We're entering advertising's new era
  + stars: | 2024-05-02 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at the biggest topic at this year's TV upfronts , and how it's a sign of advertising's new era. What's on deck:Markets: Morgan Stanley's new wealth boss outlines the bank's playbook for hitting $10 trillion in client assets. Andy Kiersz/Business InsiderYou might be wondering what retail data has to do with television advertising.
Persons: , Morgan, Don Draper's, Burton, Jenny Chang, Rodriguez, Business Insider's Lara O'Reilly, Lucia Moses, Andy Kiersz, Andy Jassy, hasn't, Finn, Morgan Stanley, Michael M, Tyler Le, Jed Finn, Andy Saperstein, there's, Joseph Stiglitz, Jerome Powell, Justin Sullivan, Wells Fargo, Kevin Scott, Satya Nadella, Bill Gates, Pablo Declan, Shari Redstone's, tanked, BI's Peter Kafka, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Tech, Wall, Getty, Google, Amazon, Disney, Kroger, Walmart, Big Tech, US Department of Labor, Apple, Department, Paramount, Trump Media Locations: China, OpenAI, New York, London
We were cleared as we knew we would be.”HISA investigated the deaths at Churchill and Saratoga and concluded that several factors, including frequency of high-intensity exercise, likely contributed. Some of the horses who died received corticosteroid injections in their joints within 30 days of racing. At its center was a veterinarian and drug compounder named Dr. Seth Fishman, who bragged on wiretaps about “having a relationship with top trainers and top owners” in the horse racing world. “What I’m trying to say is anytime you give something to a horse, that’s doping. agent posing as a New Jersey racing official pulled samples from a group of horses and sent them to a Hong Kong laboratory considered one of the finest in the world.
Persons: ” Mr, Joseph, , ” HISA, HISA, compounder, Seth Fishman, Dr, Fishman Locations: Churchill, Saratoga, Florida, New Jersey, Hong Kong
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
He also hiked his price target to $92 from $59, suggesting shares rallying 48.3% from where they closed on Tuesday. Analyst Jessica Reif Ehrlich raised her price target to $370 from $315, suggesting 22% upside from Tuesday's close. — Hakyung Kim 6:04 a.m.: Citi raises price target on Amazon Amazon is becoming a more profitable organization, according to Citi. The price target increase comes on the heels of Amazon's new grocery delivery subscription launch. He cited increased operating income projections amid strong top-line trends for his price target increase.
Persons: Tesla, Rob Sanderson, Sanderson, Forrest Li, Hakyung Kim, Jessica Reif Ehrlich, — Hakyung Kim, Ronald Josey, Josey, GenAI, Kim, Goldman Sachs, Mark Delaney, Delaney, Goldman, Joseph Spak, Spak, TSLA, Wells Fargo's Colin Langan, Langan, James Lee, Lee, Fred Imbert Organizations: CNBC, Mizuho, Bank of America, Spotify Bank of America, Spotify, Citi, Amazon Web Services, Revenue, UBS, Summer
DETROIT — Ford Motor is announcing first-quarter earnings after the markets close Wednesday. The automaker's 2024 guidance released in February included adjusted earnings before interest and taxes, or EBIT, of between $10 billion and $12 billion; adjusted free cash flow of $6 billion to $7 billion; and capital spending of $8 billion to $9.5 billion. There is less consensus on Wall Street around Ford's performance than there was for its crosstown rival General Motors , which on Tuesday reported strong first-quarter results and raised its full-year guidance. Ford is Morgan Stanley's "top pick," but others on Wall Street are less bullish on the company. Ford has faced years of inflated warranty costs, including $1.9 billion in 2023, which have affected its earnings.
Persons: Ford's, Ford, Morgan Stanley's, Joseph Spak, Jim Farley's, — CNBC's Michael Bloom Organizations: New York, DETROIT, Motors, UBS
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNobel Prize-winning economist Joseph Stiglitz: Fed rate hikes didn't get at source of inflationJoseph Stiglitz, Nobel Prize-winning economist, Columbia University professor and ‘The Road to Freedom: Economics and the Good Society’ author, joins 'Squawk Box' to discuss the state of the economy, the Fed's inflation fight, and more.
Persons: Joseph Stiglitz, Nobel Organizations: Columbia University, :, Society
Tesla shares fell for a seventh straight day, reaching their lowest since January 2023, as further price cuts over the weekend added to mounting concerns heading into the company's first-quarter earnings report Tuesday. Tesla also lowered the price of its premium driver assistance system by one-third. The price cut follows a monthlong free trial that Tesla pushed out to customers throughout North America starting in late March. "Since late 2023, sentiment on Tesla (TSLA) has deteriorated," John Murphy, an analyst at Bank of America, wrote in a note on Monday. WATCH: Tesla stock hits 52-week low ahead of earnings
Persons: Elon Musk, Tesla, John Murphy, Murphy, Joseph Spak, Spak, — CNBC's Michael Bloom Organizations: New York Times, Jazz, Lincoln Center, North America, National, Traffic Safety Administration, CNBC, Bank of America, Reuters, UBS, EV, Traders, S3 Partners, Apple Locations: New York City, U.S, China, Europe
New images posted to social media show China's third and newest aircraft carrier hosting aircraft mock-ups. AdvertisementChina's newest aircraft carrier appears to be sporting mock-ups of warplanes, according to new images posted to social media by a long-time China watcher. The pictures also show the Fujian's catapult system, designed to launch aircraft much like the US Navy's aircraft carriers. CHINESE AIRCRAFT CARRIER, JIANGNAN SHIPYARDS, CHINA, JUNE 18, 2022: Maxar satellite imagery close up view of CV 18 Fujian Aircraft Carrier, Shanghai, China. Take a close look at China's third aircraft carrier #Fujian, which was launched in Shanghai on Friday.
Persons: , Andreas Rupprecht, @QwaSkkn2447, Kitty Hawk, Matthew P, Funaiole, Joseph S, Bermudez Jr, Brian Hart Organizations: Service, People's Liberation Army Navy, Fujian, 10J, Ford, Department of Defense, China, Fujian Aircraft Carrier, Global Times, Center for Strategic, International Studies Locations: Fujian, China, Shanghai, Fujian “, Liaoning, Shandong, JIANGNAN, CHINA, China's, Taiwan
The firm initiated coverage on the stock with a buy rating and $60 price target, implying 37.2% upside from where shares closed on Monday. Analyst Mark Lipacis has a target price of $1,160 on shares, suggesting around 35% upside from where shares closed on Monday. However, it kept its $9 price target, which implies upside of just 7.7% over the next 12 months. The stock price now better considers some of our midterm concerns," worte analyst Joseph Spak. Analyst Frank Lee also raised his price target to $225 from $180, implying shares rallying nearly 38% from Monday's close.
Persons: Rivian, Goldman, DraftKings, Goldman Sachs, Ben Miller, Miller, — Hakyung Kim, Joe Ritchie, Ritchie, Nvidia isn't, it's, Mark Lipacis, Lipacis, Hakyung Kim, hasn't, Nicole DeBlase, DeBlase, Joseph Spak, we'd, Fred Imbert, Frank Lee, Lee, Nvidia's GB200 Organizations: CNBC, UBS, HSBC, AMD, US Online Gaming, GE, GE Vernova, General Electric, Nvidia, ISI, Honeywell, Deutsche Bank, Deutsche, Rivian Automotive Locations: NVDA, Monday's
Tucked at a corner table inside a Barnes & Noble cafe in Logan Town Centre, a sprawling exurban shopping complex in Blair County, he tapped away at two laptops. His work PC was open with notes on his clients: local seniors in need of at-home health care and living assistance, whom he serves as a registered nurse. On his sleeker, personal laptop he eyed some coursework for the master’s degree in nursing he’s finishing so he can work as a supervisor soon. Shortly after becoming certified, he pushed through long days in a hospital during the height of the Covid pandemic at a salary of $40,000. Today, he has what he calls “the best nursing job pay-wise I’ve ever had,” at $85,000.
Persons: Darren Mattern, Organizations: Barnes, Logan Town Centre Locations: Pennsylvania, Noble, Logan Town, Blair County
Read previewIf you could double your income by secretly working multiple remote jobs, would you do it? The share of US remote job postings on LinkedIn fell from over 20% in April 2022 to about 10% in December 2023. AdvertisementWilliam, a Texas-based tech worker in his 30s who told Business Insider he earned over $500,000 in 2022 secretly working multiple remote roles, agreed with this line of thinking. Steven said he didn't feel guilty about job juggling because he was still able to complete all the duties and tasks assigned to him. AdvertisementAre you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?
Persons: , jugglers, shouldn't, they're, There's, Joseph, hadn't, Joseph isn't, Robert, John, he'd, there's, it's, Steven, overemployment, William, Justin, Xer Organizations: Service, Business, LinkedIn, Amazon, Google, Elon Locations: Florida, California, Asia, Texas
Is the Boom-and-Bust Business Cycle Dead?
  + stars: | 2024-04-11 | by ( Talmon Joseph Smith | ) www.nytimes.com   time to read: 1 min
For much of modern history, even the richest nations have been subject to big perennial upswings and crashes in commercial activity almost as fixed as the four seasons. Hiring and investment crest and fall into a contraction as consumer confidence wanes and spending craters. Sales fall, bankruptcies and unemployment rise. But a brigade of academic economists and prominent voices on Wall Street are asking if the unruly business cycle they learned in school, and witnessed in practice, has fundamentally morphed into a tamer beast. Rick Rieder, who manages about $3 trillion in assets at the investment firm BlackRock, is one of them.
Persons: Rick Rieder Locations: BlackRock
While debate rages on about when the Federal Reserve might start cutting interest rates, biotech industry analysts are making the case that the argument for stocks in the sector is growing. Last week, Morgan Stanley analysts noted that it is the months leading up to an initial rate cut when biotech stocks outperform. Morgan Stanley also believes the case for biotech stocks is further reinforced by the financing environment and the outlook for mergers and acquisitions as well as upcoming innovation. The case for innovation Morgan Stanley also favors owning biotech stocks that have a strong drug platform even if the key catalyst of clinical trial data and FDA approvals are farther out. Rhythm ranks among the stocks rated overweight that Morgan Stanley favors in this category.
Persons: Morgan Stanley, Needham, Joseph Stringer, dealmaking, Stringer, erosive, it's, Phathom, GERD, LSEG, Merck, — CNBC's Michael Bloom Organizations: Federal Reserve, Nasdaq, Oncology, Immunology, Phathom Pharmaceutical, Pharmaceuticals, Phathom Pharmaceuticals, LSEG, Drug, Bristol Myers Squibb, Pfizer, Intellia Therapeutics, Rocket Pharmaceuticals Locations: New Jersey
Is it last orders for London’s nightlife?
  + stars: | 2024-04-06 | by ( Anna Cooban | ) edition.cnn.com   time to read: +9 min
London CNN —It’s Thursday, 11.00 p.m., and on a street in London’s Soho district, there’s a loud clatter. “People haven’t got the money,” she told CNN. “That’s when their bills started coming through, the first heating bills from the winter,” he told CNN. Even before the ravages of the pandemic, the number of London’s nightlife venues was in steady decline. They don’t just go out for the sake of going out now,” she told CNN.
Persons: London CNN —, Lesley Lewis, haven’t, , Michael Kill, Grazyna, ” Kill, , , that’s, Kill’s, Jeremy Joseph, Freddie Mercury, ” Joseph, Jack Henry, Henry, Lutz Leichsenring, Fabian Sommer, Leichsenring, London’s, Sadiq Khan, Amy Lamé, Lamé, Khan, Lamé “, Charlie Fenemer, It’s, Becky Lam, Lam, ” Chris Lau Organizations: London CNN, Staff, CNN, Time Industries Association, York Minister, London, , , German Commission, UNESCO, United Nations, Office, National Statistics, City Hall, Labour, Shady Locations: London’s Soho, London, Wales, Soho , London, Hoxton, London’s, Berlin, “ Berlin, Hong Kong, Soho, Hong, Beijing
PinnedWith the year’s first quarter in the books, the Labor Department will release its latest update on the labor market Friday morning. Economists expect the March report to show that over 200,000 jobs were added for the fourth consecutive month, according to a Bloomberg survey. The report is expected to show that the unemployment rate ticked down to 3.8 percent from 3.9 percent in February. It’s a remarkable change from a year ago, when top financial analysts were largely convinced that a recession was only months away. Nevertheless, there is “still absolutely nothing happening” in key measures of long-run jobless claims, said Guy Berger, director of economic research at the Burning Glass Institute, which studies the labor market.
Persons: , Joe Davis, Guy Berger Organizations: Labor Department, Bloomberg, Federal, Vanguard, Federal Reserve, Glass Institute Locations: U.S
Another month, another burst of better-than-expected job gains. Employers added 303,000 jobs in March on a seasonally adjusted basis, the Labor Department reported on Friday, and the unemployment rate fell to 3.8 percent, from 3.9 percent in February. Expectations of a recession among experts, once widespread, are now increasingly rare. It was the 39th straight month of job growth. And employment levels are now more than three million greater than forecast by the nonpartisan Congressional Budget Office just before the pandemic shock.
Organizations: Labor Department Locations: U.S
CNN —Spanning decades of Russian history from the confines of a luxury hotel, “A Gentleman in Moscow” provides another strong TV showcase for Ewan McGregor, this time playing opposite his wife, Mary Elizabeth Winstead. At the same time, the show manages to be quite funny and even romantic, nicely developing the other lives that Alexander touches. Plus, there’s the added kick of seeing McGregor and Winstead (who met shooting the third season of FX’s “Fargo”) sink their teeth into such juicy, flamboyant roles. And while Alexander might not be able to leave, viewers who voluntarily check into the Hotel Metropol will have plenty of reasons to enjoy their stay. “A Gentleman in Moscow” premieres March 29 on Paramount+ with Showtime and March 31 at 9 p.m.
Persons: Ewan McGregor, Mary Elizabeth Winstead, “ Obi, Wan, , ” McGregor, Count Alexander Rostov, Alexander, Winstead, Johnny Harris, Joseph Stalin, Russia, McGregor Organizations: CNN, Moscow ”, Paramount, Showtime Locations: Moscow, Russian, Fargo
What to Know About the Baltimore Bridge Collapse
  + stars: | 2024-03-26 | by ( Elliott Davis Jr. | March | At A.M. | ) www.usnews.com   time to read: +5 min
Six people are presumed dead and two have been rescued from the Patapsco River, according to The New York Times. What Happened to Baltimore’s Francis Scott Key Bridge? Around 1:30 a.m. on Tuesday, a Singapore-flagged cargo ship called Dali struck a column of the bridge, according to reporting by The Baltimore Banner. Where Is the Francis Scott Key Bridge and How Long Is It? The Francis Scott Key Bridge was assessed as being in “fair” condition in 2023, according to the Federal Highway Administration’s National Bridge Inventory.
Persons: Baltimore’s Francis Scott Key, Wes Moore, Dali, Maryland Sen, Chris Van Hollen, Francis Scott Key, Helen Delich Bentley, Banner ”, Baltimore Mayor Brandon Scott, Moore, , Joe Biden, We're, , Pete Buttigieg, Scott, Buttigieg, Joseph Schofer Organizations: The New York Times, Maryland Gov, Biden Administration, White, Baltimore Sun, Baltimore Banner, ABC News, Maryland, New York Times, Times, ” Synergy Marine Group, Baltimore Mayor, Transportation, Department of, World Association, Transport Infrastructure, U.S . News, Northwestern University’s McCormick School of Engineering, ” Engineers Locations: Patapsco, Maryland’s, Singapore, Sri Lanka, Maryland, Baltimore, Helen Delich Bentley Port of Baltimore, Fort McHenry, El Salvador, Guatemala, Honduras, Mexico, U.S
CNN —A wave of Ukrainian drones has targeted Russia on the third and final day of voting in Russia’s presidential election. Ukraine launched a total of 36 drones overnight over Russia, aimed at various parts of the country, including the capital Moscow, Russia’s Ministry of Defense said on Sunday. In Belgorod, which borders Ukraine, a 16-year-old girl was killed due to shelling, the governor of Belgorod, Vyacheslav Gladkov, posted on Telegram. A polling station in the Russian-controlled part of Ukraine’s Zaporizhzhia region was also attacked by two Ukrainian drones on Sunday, according to Vladimir Rogov, member of the Russian-installed Zaporizhzhia administration. Meanwhile, Ukrainian forces shot down 14 drones over the Odesa region on Sunday after they were launched by Russia overnight, according to the Ukrainian Air Force.
Persons: , Vyacheslav Gladkov, Vladimir Rogov, Vladimir Putin, Putin, Joseph Stalin, CNN’s Christian Edwards Organizations: CNN, Russia’s Ministry of Defense, Ministry of Defense, district’s Dispatch Service, Ukrainian Air Force Locations: Russia, Ukraine, Moscow, Yaroslavl, Belgorod, Kursk, Kaluga, Rostov, Oryol, Bryansk, Krasnodar Krai, Slavyansk, Russian, Ukraine’s Zaporizhzhia, Odesa, Alaska, Kaliningrad, Soviet
A CNN team at a polling station in Moscow said the line grew rapidly over a five to ten minute spell at around noon, and estimated 150 people had arrived. The CNN team said that police were letting people in batches through the gates to pass through security, with metal detectors and bags being checked inside the building. I think everybody in this queue knows why.”Voters queue at a polling station in St. Petersburg, Russia, at noon local time on Sunday. He posted a video of himself voting at a polling station near Moscow. The Navalny team also posted an image from the city of Novosibirsk with the caption: “Today is #noon.
Persons: Alexey Navalny, , Boris Nadezhdin, Navalny, Navalny’s, Yulia, “ Alexey, Putin, Navalnaya, Molotov, Vladimir Putin, Putin’s, Joseph Stalin Organizations: CNN, YouTube Locations: Russia, Moscow, St . Petersburg, Social, St Petersburg, Novosibirsk, Siberia, Ukraine, Alaska, Kaliningrad, Soviet
The woman is Lutfiye Zudiyeva, a Crimean Tatar, and she shared video of the moment on her social media accounts. It’s inevitable.”Arrests like hers, as well as large mass raids, especially, but not exclusively, in areas predominantly inhabited by Crimean Tatar communities, have been common since 2014. “The situation is only getting worse,” said human rights lawyer Emil Kurbedinov, himself a Crimean Tatar. AFP/Getty ImagesThe major concern now is that Crimea is a template for the other four Ukrainian regions now fully or partially occupied by Russia. Propaganda effortWhen it comes to Crimea, Russia has tried to hide its oppression under a veil of public investment, and patriotism.
Persons: , , Russia’s, ” Zudiyeva, Joseph Stalin, Emil Kurbedinov, Daniel van Moll, NurPhoto, Kurbedinov, Ukraine –, Viktor Yanukovich’s, ” —, Baz Ratner, Yanukovich –, Sergey Aksyonov, Sean Gallup, ” Kurbedinov, Krzysztof Janowski, ” Janowski, Vladimir Putin, Irina Volk, Zaporizhzhia –, Volk, didn’t Organizations: CNN, United Nations, Tatars, Soviet Union, Fleet, Reuters, Research, Russia, Crimean, Getty, UN, Ukrainian, Moscow Locations: Crimean, Ukrainian, Crimea, Crimean Tatar, Ukraine, Soviet Union, Crimean Tatars, Russia, Simferopol, Sevastopol, Russian, Soviet, Moscow, Kyiv, Russian Republic of Crimea, AFP, Donetsk, Luhansk, Kherson, Zaporizhzhia, Avdiivka, Kerch,
Minutes after polls closed on Sunday, the head of the Russian Central Election Commission (CEC) said Putin was in the lead with 87.9% of the vote, with 24.4% of the count in. More constitutional changes in 2020 removed presidential term limits, potentially allowing Putin to stay in power until 2036. Russia also held the presidential election in four Ukrainian regions it annexed during its full-scaled invasion. APThe election comes after more than two years of war which have exacted huge costs on the Russian population. After the election, Russia is set to continue to press home its growing advantage in Ukraine.
Persons: Vladimir Putin, Putin, Russia’s, Joseph Stalin, – Putin, , Wagner, Yevgeny Prigozhin, Alexey Navalny, Navalny, Novichok, , Navalny’s, Yulia Navalnaya, Molotov, Ella Pamfilova, Dmitri Lovetsky, Levada Organizations: CNN, Kremlin, Russian, Election Commission, Russian Security Service, Sunday, CEC, West Locations: Soviet, Russia, Ukraine, Moscow, St . Petersburg, Germany, China, North Korea, Iran, Avdiivka, United States, Europe
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