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A growing group of America's young people are not in school, not working, or not looking for work. They're called "disconnected youth" or "opportunity youth," and their ranks have been growing for nearly three decades. Experts say it's not just work and school; this group is often also disconnected from a sense of purpose. Palmer added that those with limited access to transportation, people with disabilities, and young parents were also more susceptible. Disconnected young people don't have that luxury."

Persons: —, Destiny, She's, she's, They're, Kristen Lewis, Lewis, hadn't, there's, Sen, Tim Kaine, who's, Joseph, he's, hasn't, he'd, Ashley Palmer, Palmer, Sarah Nunley, Nunley, Veronica, There's, Lucchesi, they're Organizations: Service, Business, Federal Reserve Bank of Dallas, Social Science Research Council, Survey, University of Minnesota's, National Center for Education Statistics, Walmart, Texas Christian University, Ivy League Locations: Florida, Alabama, Indiana, Silicon Valley, YOLO, Texas

☆ A flurry of new rules from the Biden administration attempt to ban noncompetes, boost overtime pay, and increase refunds for delayed flights
▼ + stars: | 2024-04-27 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

Read previewThe Biden administration this week pushed out a slate of rules it says are meant to boost competitiveness and put more money into workers' pockets. There are already challenges to at least one of the rules — but together they could land overtime pay for millions more workers, ban noncompetes that prevent workers from moving into jobs in similar industries, and help people get automatic refunds for delayed or canceled flights. More workers eligible for overtime payUnder the Department of Labor's new rule, many workers who make under $43,888 will be eligible for overtime pay effective July 1. A ban on noncompetes that keep workers from taking new jobsPerhaps the most sweeping action for workers came from the Federal Trade Commission, which finalized a rule to ban noncompetes in most cases. Will a ban on noncompetes, new overtime thresholds, or airline refunds affect your life?

Persons: —, Biden, Lael Brainard, That's, it's, Judy Conti, Pete Buttigieg, Brainard, Aaron, Ryan, John Smith, Suzanne Clark, Jeremy Merkelson, Davis Wright Tremaine, Merkelson, Elizabeth Wilkins, Wilkins Organizations: Service, Business, National Economic Council, Department of, National Employment Law, of Transportation, Federal Trade Commission, . Upjohn Institute, Employment Research, of Commerce, Texas Association of Business, Federal Trade, Chamber of Commerce, FTC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin and ether dip to end the week, and crypto firm Consensys sues the SEC: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Lyn Alden, founder of Lyn Alden Investment Strategy and board director of Swan Bitcoin, provides insight into bitcoin's performance in the face of macroeconomic pressures.

Persons: Consensys, explainers, Lyn Alden, Swan Organizations: SEC, CNBC Crypto, CNBC, Lyn, Lyn Alden Investment

☆ The 'peak boomer' crisis might only get worse: A fifth of Americans 50 and up have no retirement savings, and the majority are worried they won't have enough money
▼ + stars: | 2024-04-26 | by ( Juliana Kaplan | Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Americans say they don't have enough money for retirement, with a solid chunk having no savings at all. At the same time, the economy is about to see the "peak boomer" generation retire and deplete their savings. Tourangeau is part of a generation of older Americans who don't feel confident in their financial situation. Any of those who leave the workforce to retire may need to rely on any retirement savings they have built. AdvertisementAre you a peak boomer or older American worried you won't have enough money for retirement?

Persons: —, Pam Tourangeau, let's, it's, Indira Venkateswaran, Venkateswaran, Nancy LeaMond, LeaMond Organizations: Service, Congressional Research Service, AARP, Research, Savings, Americans, Federal Reserve, University of Michigan Health, Alliance, Lifetime, Security, Social Security Locations: America

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin outperforms Nasdaq after U.S. economy grew less than projected in Q1: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Nathan McCauley, co-founder and CEO of Anchorage Digital, discusses the platform's new crypto settlement network.

Persons: explainers, Nathan McCauley Organizations: Nasdaq, CNBC Crypto, CNBC, Anchorage Digital

☆ Federal judge upholds verdict in E. Jean Carroll case and denies Trump’s motion for a new trial
▼ + stars: | 2024-04-25 | by ( Kara Scannell | ) edition.cnn.com time to read: 1 min

CNN —A federal judge on Thursday upheld the verdict and award in E. Jean Carroll’s defamation case against former President Donald Trump and denied Trump’s motion for a new trial. Judge Lewis Kaplan, in a written opinion, said Trump’s legal arguments are without merit. The judge also found that the punitive damages the jury awarded to Carroll “passes constitutional muster.”Trump is also separately appealing the verdict. This is a breaking story and will be updated.

Persons: Jean Carroll’s, Donald Trump, Lewis Kaplan, Carroll “, ” Trump Organizations: CNN

☆ Millennials are a lot better off financially than you may realize
▼ + stars: | 2024-04-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at how millennials have seen their wealth explode over the past few years. Millennials, the oft-maligned generation , are a lot better off financially than you might realize. A new report found millennials saw their wealth double from the end of 2019 through 2023, writes BI's Juliana Kaplan. Whatever the case, millennials' wealth can keep growing. The Department of Justice is investigating the consultancy for its past work advising opioid companies about how to boost their sales , The Wall Street Journal reported on Wednesday.

Persons: —, Iurii Garmash, Tyler Le, millennials, BI's Juliana Kaplan, Harry Potter fanfiction didn't, Millennials, Gen Xers, eyeing, Juliana Kaplan, Gen, Chelsea Jia Feng, Jamie Dimon, Devin Nunes, Mark Zuckerberg, they've, There's, Nathan Congleton, Blackstone, Donald Trump's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Studio, Getty, millennials, Slaven, The New York Times, Nvidia, Trump Media, House Republicans, Meta, Green, Getty Images Google, Apollo, KKR, Justice, Street, Wednesday, McKinsey, NFL, US Locations: That's, Chelsea, premarket, NBCU, New York, London

☆ Millennial wealth is booming. It turns out avocado toast didn't tank them after all.
▼ + stars: | 2024-04-24 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

That rate of rapid wealth growth has never happened before in the data series' history, per the analysis, and it comes after wealth growth remained relatively stagnant for young Americans pre-pandemic. This data, as the authors of the CAP analysis note, suggests that wealth gains weren't just reserved for the top-earning millennials since both median and average wealth grew. "This suggests that the strong wealth growth for younger Americans is broad-based and not the result of strong growth of a handful of wealthy younger households," the authors write. As that report notes, financial assets were a major component of younger Americans' wealth growing. "We need to keep this robust labor market going and Congress needs to set its sights on younger Americans' greatest affordability challenge: housing," Duke said.

Persons: —, Gen X, Brendan Duke, Christian Weller, X, millennials, Duke, BI's Noah Sheidlower Organizations: Service, Center for American Progress, Federal, Business, Boomers, Federal Reserve's Survey, Consumer Finances, millennials, Liberty Street, Federal Reserve Bank of New Locations: millennials, Federal Reserve Bank of New York

☆ Meet the typical new entrepreneur: A young woman living in the South who's doing it as a side hustle
▼ + stars: | 2024-04-24 | by ( Jacob Zinkula | Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

The newest entrepreneurs are both young and old and looking to grow their wealth through their businesses. The share of new Hispanic entrepreneurs rose from 8% in 2022 to 13% in 2023, Gusto found. Many new entrepreneurs are open to using AI tools and hiring remote workers, per the Gusto survey. The share of entrepreneurs who started a business while juggling another gig rose from 27% in 2022 to 44% in 2023. The Babson report found that most US entrepreneurs, 71%, were motivated by the prospect of boosting their wealth through their businesses.

Persons: They're, —, Ewing Marion, Luke Pardue, Babson, Entrepreneurship isn't Organizations: Service, Bureau of Labor Statistics, Babson College, Midwest Women, Pew Research Center, Ewing Marion Kauffman Foundation, Bureau, Kauffman Foundation, Entrepreneurs, Business Administration, Entrepreneurship Locations: Midwest, New Hampshire, Minnesota, Montana, Northeast, West

☆ Former Dallas Fed President: Services, particularly labor, is ground zero for current inflation
▼ + stars: | 2024-04-24 | 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 EmailFormer Dallas Fed President: Services, particularly labor, is ground zero for current inflationFormer Dallas Fed President Robert Kaplan joins 'Squawk Box' to discuss the latest durable goods data, what to expect from this week's GDP and inflation numbers, the Fed's inflation fight, interest rate outlook, and more.

Persons: Robert Kaplan Organizations: Former Dallas Fed, Services

☆ Meet the typical ALICE: Americans struggling to afford basic necessities but making too much to get help
▼ + stars: | 2024-04-24 | by ( Noah Sheidlower | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

The South has the highest concentration of states with about 50% of residents below the ALICE threshold. They're either the youngest or oldest workers in the workforce, often single parents, and full-time workers — but they're still not making ends meet. Married adults with children tend not to be ALICE, as 80% reported being above the ALICE threshold. ALICE Americans are all across the country and in both rural and urban areasALICE Americans exist everywhere from the isolated countryside of the US to the country's biggest cities. The breakdown between urban and rural ALICE is somewhat consistent — the ALICE population makes up 30% of the rural population and 28% of the urban population.

Persons: —, ALICE —, ALICE, They're, they're, ALICE Americans, Gen, ALICE millennials, Xers, Stephanie Hoopes, United For ALICE, Still, Hoopes Organizations: Service, United Way's, Business, United For, ALICE, Nationwide, United Locations: America, ALICE, Florida, California, New York, Texas, Iowa

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDOJ says ex-Binance CEO Changpeng Zhao should serve three years in prison: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Anand Iyer, founder of Canonical Crypto, discusses the potential of merging blockchain technology and AI.

Persons: Changpeng Zhao, explainers, Anand Iyer, Canonical Crypto Organizations: DOJ, CNBC Crypto, CNBC

☆ Canonical Crypto founder says he's bullish on the merging of AI and blockchain
▼ + stars: | 2024-04-24 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCanonical Crypto founder says he's bullish on the merging of AI and blockchainAnand Iyer, founder of Canonical Crypto, an early stage fund investing in crypto and web3 infrastructure, explains why he is bullish on the convergence of AI and blockchain technology. Iyer also provides his outlook for VC trends in the space.

Persons: he's bullish, blockchain Anand Iyer, Canonical, Iyer

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin rises past $66,000 in the days following the network's fourth halving: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Nico Cordeiro, CIO of quant digital asset hedge fund Strix Leviathan, weighs in on bitcoin's performance following the latest halving and explains what will likely be the next catalysts for the crypto market.

Persons: explainers, Nico Cordeiro Organizations: CNBC Crypto, CNBC

☆ NYC's EV revolution is riding on Uber and Lyft drivers
▼ + stars: | 2024-04-22 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +13 min

For Uber and Lyft drivers, time is money, so widely accessible charging is key to the EV switch. A study by the US Department of Energy found that 1,000 fast chargers were needed for every 20,000 EV drivers on the road. A mad dash for EV licensesThe transition is getting an early test this year now that thousands more ride-hailing drivers have licenses. AdvertisementIn October, the Taxi & Limousine Commission opened applications for this gig work for the first time in five years — but for EV drivers only. In exchange, Uber drivers will get up to a 25% discount when they charge.

Persons: Manhattan, Tesla, Eric Adams, Bobby Familiar, Revel, Michael Replogle, David Do, Aeraj Qazi, Qazi, Guillermo Fondeur, Uber, he's, Fondeur, Adams, EVs, Con Edison, Flo, Replogle, it's, Josh Gold, Uber's, that's, Do, we've, Juliana Kaplan Organizations: EV, US Department of Energy, Business, NYC's Department of Transportation, Chargers, Taxi, Limousine Commission, TLC, New York Taxi Workers Alliance, Rentals, Department of Transportation, DOT, LaGuardia Airport, Tesla, Gravity, Green, Initiative Locations: New York City, Queens, NYC, Canadian, Canada, EVs, Manhattan, America

☆ Ready or not, the youngest boomers are retiring
▼ + stars: | 2024-04-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

AdvertisementThe majority of so-called "peak boomers" have $250,000 or less in assets , according to a recent report, write Juliana Kaplan and Ayelet Sheffey. If you're a bit surprised by the dire economic situation of peak boomers, I wouldn't blame you. Older boomers had the benefit of employer-subsidized retirement plans before a shift in the workforce left younger boomers to fend for themselves. Alistair Berg/Getty ImagesPeak boomers' retirement struggles might end up being a wake-up call for younger generations. There will be plenty of lessons learned from peak boomers entering retirement without the safety net of a pension.

Persons: —, blowup Jacob Wackerhausen, Jenny Chang, Rodriguez, Juliana Kaplan, Ayelet Sheffey, that's, we've, boomers, Alistair Berg, Xers, Gen Zers, Bryan Erickson, Jane Street, Chowdhury, Elon Musk, they'd, Tesla, Tony Stubblebine, Nick Little, Dani Widell, BI's Emily Stewart, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Business, Service, Social Security, Security, Google, Wall Street, JPMorgan, Detroit Police Department, Tesla, BI, Verizon Locations: Covid, China, Europe, Airbnb ., America, New York, London, Chicago

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Bitcoin halving is set to shake up the crypto's price and the network's minersThe Bitcoin halving takes place roughly every four years, and the technical event cuts the reward pays out to miners for validating blocks of transactions. This creates a scarcity effect that could drive up the price of the cryptocurrency, while cutting miners' revenue, meaning more efficient miners perform better post-halving. Watch the video above to learn more about what the halving means for both crypto markets, and for the bitcoin miners validating transactions on the network.

☆ Why there is no such thing as luck, according to this entrepreneur and reality TV star
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: 1 min

If you are waiting for the stars to align for your next big break, don't bank on it. According to businesswoman and reality TV star Ann Kaplan Mulholland, there is no such thing as luck. "Luck is where preparedness finds and recognizes an opportunity," she told CNBC's My Biggest Lessons. "If you're not open, if you're not aware, you will not recognize when an opportunity comes in front of you," said Kaplan Mulholland. She added that there is also no such thing as bad luck.

Persons: Ann Kaplan Mulholland, CNBC's, Kaplan Mulholland

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin rises to $64,000 in the final hours before the halving: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Crypto World explores the bitcoin halving's impact on the cryptocurrency's price and why some think this halving will be different from those in the past.

Persons: explainers Organizations: CNBC Crypto, CNBC

☆ Welcome to 'peak boomer' era: A wave of retirees is about to blow through their savings and cling to Social Security to stay afloat
▼ + stars: | 2024-04-19 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Over 30 million "peak boomers" are entering retirement financially unprepared. This cohort is known as "peak boomers," and per the report, most of them are on track for significant economic headwinds. It's what some have called the boomer retirement bomb — and it might be costly for the rest of the workers in the economy. The peak boomers' retirement wave could also impact the overall US economy. And, per Business Insider's calculations of CPS ASEC data, 79.2% of retirees receive some type of Social Security income.

Persons: —, Robert Shapiro, boomers, Pam Organizations: Social Security, Service, Alliance, Lifetime, Income, Federal Reserve, University of Michigan Health, Commerce, Economic Affairs, Boomers, Consumer Expenditure Survey, CPS

US House Speaker Mike Johnson (R-LA) speaks during a news conference following the House Republican caucus meeting at the US Capitol in Washington, DC, on November 29, 2023. Speaker Mike Johnson, facing intense opposition from right-wing members, received crucial help from Democrats to move forward with the votes. Passing this legislation would send a powerful message about the strength of American leadership at a pivotal moment," the White House budget office said in a statement Friday endorsing the House package. But Johnson, who opposed Ukraine aid last year before he became speaker, now says he believes it is "critically important," based on the intelligence and briefings he has since gotten. Democrats praised the move to proceed to House votes, highlighting their party's key role.

Persons: Mike Johnson, Joe Biden, Thomas Massie, Chip Roy, Ralph Norman, Johnson, — Massie, Marjorie Taylor Greene, I'm, Vladimir Putin, Don Beyer, Grace Meng Organizations: Republican, The, Democratic, White House, Administration, Naval Academy, U.S, Democrats, couldn't Locations: Washington ,, Ukraine, Israel, U.S, China, Ky, Texas, Europe, American

☆ More and more Americans are becoming 'ALICEs.' They can't afford rent and groceries but are falling through the cracks in the country's safety net.
▼ + stars: | 2024-04-18 | by ( Noah Sheidlower | Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

Many ALICEs are workers whose wages typically aren't enough to cover their bills, meaning they live paycheck to paycheck. And while those measures might reach the most financially distressed Americans, the benefit cut-offs leave behind the still-precarious group of ALICEs. Some state-to-state benefits are often available to individuals and families earning 200% to 250% of the Federal Poverty Level. Simultaneously, over the last 12 years, ALICEs have been falling behind on wage increases. AdvertisementIndeed, many Americans aren't necessarily falling into poverty, but they are increasingly teetering toward becoming ALICEs.

Persons: —, ALICE, ALICEs, Stephanie Hoopes, United For ALICE, Hoopes, ALICE would've Organizations: Service, United Way's, Business, Survey, United For, SNAP Locations: Montana, Idaho, ALICEs, Florida, Utah

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin jumps to $63,000, but JPMorgan says the crypto could decline post-halving: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Taras Kulyk, founder and CEO of SunnySide Digital, a wholesale distributor of data center and digital mining hardware and infrastructure, weighs in on what to expect following the upcoming bitcoin halving.

Persons: explainers, Taras Kulyk Organizations: JPMorgan, CNBC Crypto, CNBC, SunnySide Digital

☆ Expect a surge in M&A activity following the bitcoin halving: SunnySide Digital CEO
▼ + stars: | 2024-04-18 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect a surge in M&A activity following the bitcoin halving: SunnySide Digital CEOTaras Kulyk, founder and CEO of SunnySide Digital, a wholesale distributor of data center and digital mining hardware and infrastructure, weighs in on what to expect following the upcoming bitcoin halving. He also explains how SunnySide Digital has been preparing for the key technical event.

Persons: Taras Kulyk Organizations: SunnySide Digital, SunnySide

Learn moreNearly every day that I carry Senreve's Maestra bag, I get stopped by someone on the sidewalk or the train. The easy transition also comes in handy for the days when you just want to switch up your look between shoulder bag, top-handle bag, and backpack. SenreveAll three sizes of the bag, the Maestra (from $945), Midi Maestra (from $845), and Mini Maestra (from $745) have the same capacity to transition from bag to backpack. A few years back, if you had ever told me that I'd be singing the praises of an $945 bag, I'd think you were nuts. So let me say this: the Maestra bag is a luxury, but it's one that you will get tons of use out of.

Persons: I'm, Sally Kaplan, it's, I'd, who's Organizations: Business

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