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☆ 2 experts outline a looming scenario where the US economy ends up caught in a dreaded period of stagflation
▼ + stars: | 2024-04-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

This would force interest rates to stay higher for longer, putting pressure on US businesses and consumers. 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 . AdvertisementA pair of economic reports has brought back a word no central banker ever wants to hear: stagflation. The difficult scenario occurs when inflation rises and growth stalls, a dangerous combination just experienced by the US economy.

Persons: stagflation, —, Thursday's, LPL, Jeffrey Roach, Mike Reynolds, Reynolds, Jamie Dimon, Roach, shouldn't Organizations: Service, Federal, yesterday's, Fed, Wall Street, Bank of America

☆ The US economy may end up caught in a dreaded period of stagflation. 2 experts outline the scenario, and how to keep your money safe
▼ + stars: | 2024-04-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

☆ Fears about stagflation are mounting in the US. It’s every central banker’s worst nightmare
▼ + stars: | 2024-04-25 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

And economists are forecasting new inflation data due Friday will paint a similar picture. The GDP report gave another preview of what could come. Slowing economic growth combined with rising inflation is known as stagflation. To be fair, one GDP report isn’t necessarily indicative of a trend. He repeated that message in a Wall Street Journal interview published Thursday before the GDP report was released.

Persons: there’s, JPMorgan Chase, Jamie Dimon, we’ve, ”, —, ” Dimon, Mike Reynolds Organizations: New, New York CNN, Federal Reserve, JPMorgan, Economic, of New Locations: New York, Germany, Israel, of New York

☆ Death Valley is an oasis of lakes and wildflowers after Hurricane Hilary
▼ + stars: | 2023-10-25 | by ( Mary Gilbert | ) edition.cnn.com time to read: +4 min

CNN —California’s Death Valley is the hottest place in the world and the driest place in North America. But two months after Hurricane Hilary’s epic rainfall, parts of the national park look more oasis than desert. “It is definitely a rare and special event,” Death Valley park spokesperson Abby Wines told CNN, only happening roughly once a decade. Road crews traverse along hwy 190 in Death Valley, California, on August 31, 2023, where most of the road was washed out. But average high temperatures in Death Valley drop quickly during the fall and get nowhere near the record-shattering heat of summer.

Persons: Abby Wines, Hilary, Robert Gauthier, Wines, “, Death, Mike Reynolds, Mario Tama, Badwater, ” Wines, ” Organizations: CNN, Los Angeles Times, Wines, National Park Service, NPS Locations: North America, Death, Death Valley , California, Badwater

The minutes of the Fed's July monetary policy meeting showed most policymakers continue to prioritize the battle against inflation, adding to uncertainty among investors about the outlook for interest rates. Bank shares extended losses, with the S&P 500 bank index <.SPXBK> down 1% and Bank of America (BAC.N) leading losses among bigger banks to end 2.2% lower. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Equities have suffered through a rough patch in August, with the S&P 500 languishing near one-month lows as data underscoring sticky inflation and a robust economy fans fears of interest rates staying elevated for longer. The S&P 500 posted four new 52-week highs and 18 new lows; the Nasdaq Composite recorded 36 new highs and 255 new lows.

Persons: Banks, we're, Peter Tuz, Brendan McDermid, Mike Reynolds, Saeed Azhar, Noel Randewich, Amruta, Lewis Krauskopf, Maju Samuel, Vinay Dwivedi, Deepa Babington Organizations: Nasdaq, Dow, Federal, Chase Investment, ”, Dow Jones, Bank, Bank of America, Nvidia, New York Stock Exchange, REUTERS, Walmart, NYSE, Thomson Locations: Charlottesville , Virginia, New York City, U.S, New York, Bengaluru

☆ Death Valley: 2 men got lost, drove off-road; charges pending
▼ + stars: | 2023-08-02 | by ( Marnie Hunter | ) edition.cnn.com time to read: +3 min

CNN —Two men driving in Death Valley National Park on July 4 got lost and illegally drove off-road, the US National Park Service alleges, sending one man to the hospital with heat-related illness. “Death Valley is an awe-inspiring place that demands our utmost respect and preparedness,” Superintendent Mike Reynolds said in a statement. The pair walked about another mile to paved Badwater Road, where they walked an additional 12 miles (19 kilometers) north, the Park Service said. NPSDeath Valley must: Road mapThe Park Service reminds visitors that there is no cell service in most of the park, and GPS navigation can be unreliable in remote locations such as Death Valley. The Park Service said it’s safest to stay on paved roads during the summer heat.

Persons: Mike Reynolds, ” Organizations: CNN, National Park Service, NPS, GPS, Park Service, View, “ Vehicles, Service Locations: Death, Shoshone , California, Pahrump , Nevada, Alaska

☆ AI investment is booming. How much is hype?
▼ + stars: | 2023-07-23 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

The investment into Mistral AI is just one of many this year by venture capitalists jostling for a seat aboard the AI rocketship. In the first six months of 2023, they plowed $15.2 billion into generative AI companies globally, according to Pitchbook data. The bulk of this sum comes from Microsoft (MSFT)’s $10 billion investment, announced in January, in OpenAI, the developer of popular generative AI chatbot ChatGPT. But even excluding Microsoft’s bumper deal, the value of VC investments in generative AI was up by almost 58% compared with the same period in 2022. “Buying a ‘dot-ai’ domain, and claiming to be an AI company… doesn’t really make you an AI company,” Jacobs told CNN.

Persons: Antoine Moyroud, wasn’t, ”, Arthur Mensch, Nathan Laine, hasn’t, ” Mostaque, jostling, Moyroud, ’, ’ “, “, ” Moyroud, It’s, Jaap Arriens, Goldman Sachs, Stocks, Mike Reynolds, Reynolds, —, “ It’s, ” Reynolds, ” Jordan Jacobs, … doesn’t, ” Jacobs Organizations: London CNN, Lightspeed Venture Partners, CNN, Mistral, Viva Tech, Bloomberg, Getty, Stability, Microsoft, Meta, Nvidia, Nasdaq, Cisco, Radical Ventures Locations: French, Paris, California, OpenAI, —, Toronto

Debate over the US debt ceiling puts the potential of a US Treasury default in focus. Failing to do so could lead to a US Treasury default if the government becomes unable to make payments on all of its outstanding debts. "This type of default — one that occurs due to not being able to raise the debt ceiling — would be unprecedented," Steeno says. 6 ways a US Treasury default could hurt your financesHere are some of the biggest financial impacts Americans would feel in the event of a US Treasury default:1. But a Treasury default could undo any progress they've been made.

☆ No Ivy League degree? No problem: This Wall Street vet climbed his way up the ranks of Goldman Sachs after graduating from SUNY Albany
▼ + stars: | 2023-04-03 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +13 min

Ask anyone on Wall Street and they will tell you that Goldman Sachs is one of the top places to build a career as an investment banker. In an effort to diversify recruiting sources and its workforce, Wall Street generally has been expanding the schools from which it recruits. Still, Alfieri's experience can still prove valuable to today's Wall Street hopefuls. There he met Vincent Cisternino, who also had dreams of working on Wall Street. Having started his career during the financial crisis, his advice to today's Wall Street upstarts is to stay positive and persevere.

☆ 82-year-old Alabama woman arrested after she failed to pay the trash bill, police say
▼ + stars: | 2022-12-01 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

An 82-year-old woman in Alabama was arrested this week after failing to pay her delinquent trash bill, authorities said. Code enforcement officers tried to call Menefield several times and attempted to contact her at her home, the statement said. When Menefield failed to appear in court, a warrant for “Failure to Pay-Trash” was issued, the statement said. Menefield has a history of failing to pay her trash bill, according to Reynolds’ statement. Her trash services were suspended three times in the past two years, and there have been more than 22 incidents of suspensions and revocations of trash services since 2006, the statement said.

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