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☆ Top minds at Milken unveil what they're seeing under the surface of the US economy as the national debt burden rises to nauseating levels
▼ + stars: | 2024-05-08 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

For the 27th straight year, some of the brightest minds from across the business world descended on Beverly Hills in early May to attend the Milken Institute Global Conference. But while speculation stole headlines, Milken speakers spent much of their time fixated on the state of the US economy. But despite continued concerns about stagflation, Milken speakers overwhelmingly expressed confidence about economic growth at a May 6 session called "Global Markets at Inflection." "The economy is still extremely strong, consumers are still doing really well, businesses are still doing really well," Scharf said. Though far from perfect, the US is still the best place to investDespite the $34.7 trillion anvil hanging over the economy, Milken speakers widely agreed that the US is still the best place to invest and operate a company.

Persons: Elon Musk, he's, Milken, Wells, Franklin Templeton, Gerard Baker, Andre Esteves, Jenny Johnson, Charlie Scharf, Scharf, we've, it's, you've, hasn't, Sam, Joshua Friedman, Anne Walsh, Friedman, Esteves, they've, Johnson, " Scharf, Wells Fargo Organizations: Milken Institute Global, SpaceX, Business, Milken, The, Consumers, Starbucks, Canyon Partners, Investors, Guggenheim Investments, Milken Institute Global Conference, US Locations: Beverly Hills, Wells Fargo, Brazil, McDonald's, Washington

The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. Analysts have said that any intervention from Tokyo would only serve as a temporary respite for the yen, given stark interest rate differentials between the U.S. and Japan remain. Analysts expect the central bank to leave the door open to lower interest rates as early as June. The Australian dollar fell 0.2% to $0.6585, pressured in part by a less hawkish outlook from the Reserve Bank of Australia than anticipated after it held interest rates steady on Tuesday.

Persons: Kazuo Ueda, Shunichi Suzuki, they'll, Carol Kong, Neel Kashkari, Kashkari, Rodrigo Catril Organizations: Federal, U.S, Bank of Japan, country's Finance, Commonwealth Bank of Australia, New Zealand, greenback, Minneapolis, Minneapolis Fed, National Australia Bank, Bank of, Reserve Bank of Australia Locations: Tokyo, Beijing, Japan, Bank, U.S, Minneapolis

CNN —The world has passed a clean energy milestone, as a boom in wind and solar meant a record-breaking 30% of the world’s electricity was produced by renewables last year, new data shows. The planet is reaching “a crucial turning point” toward clean energy, according to the Global Electricity Review published Wednesday by climate think tank Ember. Record-breaking renewablesIn 2000, renewables made up less than 19% of the global energy mix. It made up nearly twice as much new electricity generation as coal last year. Electricity demand is set to soar from 2024 onward, Ember’s analysis found.

Persons: It’s, Dave Jones, Ember, ” Jones, “ We’re, Jones, “, ”, Niklas Höhne, Nancy Haegel Organizations: CNN, Global, NewClimate Institute, European Union, EU, National Renewable Energy Laboratory Locations: China, India, Chile, Australia, Netherlands, California, United States

☆ Home Sellers' Tough Summer: Get Ready for Lower Prices, Fewer Offers
▼ + stars: | 2024-05-08 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

Rich baby boomers jumped in with all-cash offers, and sellers scored huge windfalls as weary buyers pushed prices to new heights. After all, people have to move for a wide variety of life reasons; mortgage rates be damned. "The further and further we get from the peak of the market," Peterson told me, "the harder it is to deny what's happened." Mortgage rates haven't fallen — in fact, they've gone up about 0.6 percentage points since the start of the year. "It can always be tricky telling somebody that they were just lucky because it makes you sound envious," Peterson told me.

Persons: Rich, Sellers, Eric Peterson, Peterson, Austin, Freddie, they've, Selma Hepp, Freddie Mac, Mike Simonsen, Redfin, towners, Libby Levinson, Katz, Price, Levinson, John Burns, they'll, Realtor.com, you'd Organizations: Freddie Mac, Reserve, Federal Housing Finance Agency, Altos Research, Sun, John, John Burns Research, Consulting Locations: Austin, Boise , Idaho, Denver

☆ Dementia cases are on the rise — avoid these 12 risks to keep your brain healthy
▼ + stars: | 2024-05-08 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +5 min

Halfpoint Images | Moment | Getty ImagesA global mental health crisis is on the horizon — dementia. While a healthy body can mitigate dementia risks, a healthy mind is no less important. "We do know [that] people who have cumulative mental health symptoms during their lifetime, actually [have] an increased risk of dementia," said Singham. "If we see symptomatic improvement [to one's mental health] throughout the life course, then that can decrease your chances of having dementia eventually." "The other thing I would encourage young people to do is have a very disciplined, good sleep hygiene because our brains really really need to rest," Ng said.

Persons: Timothy Singham, Singham, Ng Ai Ling, " Ng Organizations: World Health Organization, WHO, National University of Singapore, CNBC, Community Services

☆ Weekly mortgage refinance demand rose 5% after a slight dip in mortgage rates
▼ + stars: | 2024-05-08 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Mortgage rates are significantly higher than they were at the start of this year, but they pulled back slightly last week after several weeks of straight increases. "First-time homebuyers account for roughly half of purchase loans, and the government lending programs are an important source of financing for these homebuyers. The dip in rates caused refinance demand to increase 5% for the week, although it was still 6% lower than the year-earlier week. Applications for a mortgage to purchase a home rose 2% for the week but were still 17% lower than the same week a year earlier. Mortgage rates fell further to start this week.

Persons: Mike Fratantoni, MBA's, Fratantoni Organizations: Federal Reserve's, Federal Housing Administration Locations: Manhattan, New York City

☆ Disney's earnings sell-off opens the door to buy back stock we sold higher
▼ + stars: | 2024-05-07 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. That trust had been shaken by Palo Alto's brutal report in February, which caused a steep sell-off in the stock. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Morgan Stanley, It's, Jeff Marks, we're, Palo, We've, Jim Cramer's, Nikesh Arora, Jim Organizations: CNBC, Dow, Nasdaq, Costco, Disney, Barclays, Palo Alto Networks Locations: Government, Palo Alto

☆ 'We have real, structural problems': Brace for geopolitical drama and another chaotic election season by hedging with commodities and buying a tiny stock with 500% upside, says a hedge fund manager up
▼ + stars: | 2024-05-07 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Read previewThe performance of hedge fund manager Harris Kupperman's Praetorian Capital Fund is proof that being pessimistic can pay off — even when the economy grows and stocks rise. Since launching at the start of 2019, Kupperman's fund is up an astounding 891.1% net of fees through March 31. AdvertisementBesides budget headaches, the hedge fund manager is wary of escalating political tensions at home and abroad. How to build a crisis-resistant portfolioThe hedge fund manager's blueprint for game plan scoring gains in a shaky backdrop with persistent inflation centers around commodities. A-Mark has consistently generated mid-single-digit earnings per share in recent years, though the hedge fund manager said that could easily rise to $10 as interest in precious metals rises.

Persons: —, Harris Kupperman's, , Kupperman, Washington, He's, there's, Precious Metals, Mark Organizations: Service, Capital Fund, Business Locations: cryptocurrencies, East, Ukraine, China

☆ What earnings beat? Disney's streaming slowdown is all anyone on Wall Street cares about
▼ + stars: | 2024-05-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

But that wasn't enough for Wall Street, with the stock diving as much as 11% following the earnings report, its worst daily decline in 18 months. Related storiesWhile Disney+ added 6.3 million new subscribers in the quarter, its total number of streaming subscribers, 153.6 million, was below Wall Street estimates by about 2 million. AdvertisementThe sharp move lower highlights the high standard Wall Street has set for Disney's streaming portfolio, which includes Disney+, Hulu, ESPN, and India's Hotstar. So far, that doesn't appear to be happening, at least not at a quick enough pace for Wall Street. And while Disney's streaming business is moving in the right direction overall, it will likely still be a bumpy ride ahead for the unit to deliver consistent profits.

Persons: —, India's, Hugh Johnston, Geetha Ranganathan, Kevin Organizations: Service, Business, Disney, ESPN, Netflix, Wall, Wall Street, Bloomberg Intelligence Locations: Hulu, India

☆ How do celebrities get their hands on museum-quality gowns?
▼ + stars: | 2024-05-07 | by ( Leah Dolan | ) edition.cnn.com time to read: +12 min

But today, as more and more celebrities choose to wear vintage, the all-important stretch of red carpet has started to look more like a museum hallway. Kendall Jenner's vintage dress for the 2024 Met Gala. Mugler — the luxury French fashion house responsible for dressing Zendaya in a 30 kilogram full metal robot suit from 1995. Although interest in vintage fashion is rising amongst celebrity clients, not everyone is qualified to physically handle these pieces. John Shearer/WireImage/Getty ImagesFashion’s rat raceBut if these one-of-a-kind pieces are so fragile, and the method of their conservation so exact, how do celebrities even get their hands on them?

Persons: CNN —, Miley Cyrus, Laverne Cox, Olivia Rodrigo, Bob Mackie, ”, Vanessa Friedman, Cardi, Margot Robbie, Jennifer Lawrence, Mugler, Givenchy —, That’s, Kim Kardashian, Marilyn Monroe’s, Emily Ratajkowski, Versace, Zendaya, Givenchy, Kendall Jenner, Kendall Jenner's, Jamie McCarthy, Renée Zellweger, Jean Dessès, Julia Roberts, “ Erin Brockovich, Erin Walsh, Anne Hathaway, Selena Gomez, Sarah Jessica Parker, WWD, Wiktor, ” Adrian Corsin, Law Roach, Jean, Jacques Urcun, Marion Bourdée, Adrian, Julie Ann Clauss, Tom Ford, Calvin Klein, Marc Jacobs, Carolina Herrera, “, John Shearer, Kylie, ” Jenner, Thierry Mugler, Couturissime, ” Bourdée, Kylie Jenner, Ripley’s, ” Mugler, won’t, Walsh, ” Erin Walsh, Valentino, Karwai Tang, We’re, Kendall, ” Corsin, hasn’t Organizations: CNN, New York Times, Givenchy, London, Publishing, Brooklyn, International Council of Museums, , New York, Hollywood, SAG, Vogue Locations: Zendaya, London, France, LA, Mugler, New York, “, , New

☆ India’s economy and Modi, Ambani, Adani: The three men shaping the next economic superpower
▼ + stars: | 2024-05-07 | by ( Diksha Madhok | ) edition.cnn.com time to read: +13 min

Fellow billionaire Gautam Adani, founder of the Adani group, was also invited. Reliance Industries and the Adani Group are sprawling conglomerates worth over $200 billion each, with established businesses in sectors ranging from fossil fuels and clean energy to media and technology. As a result, these three men — Modi, Ambani and Adani — are playing a fundamental role in shaping the economic superpower India will become in the coming decades. Both Adani and Ambani have become key allies as the country embarks on this revolution. “India cannot grow rich before it becomes old on the back of a few big firms like Adani or Ambani,” he said.

Persons: Mukesh Ambani, Mark Zuckerberg, Bill Gates, Ivanka Trump, popstar Rihanna, David Blaine, Ambani, Gautam Adani, Jeff Bezos, ”, Rohit Lamba, Narendra Modi, — Modi, Adani, Noemi Cassanelli, ’, John D Rockefeller, Vanderbilt, James Crabtree, Modi, Guido Cozzi, Cozzi, Ambani’s, Dhirubhai, helms, Cantor Fitzgerald, Cantor, ’ Ambani, Amit Dave, Hindenburg’s, ferociously, ” Cantor, Modi’s, Prasanna Tantri, Crabtree, Lamba Organizations: New, New Delhi CNN —, Reliance Industries, Pennsylvania State University, Investors, Adani, CNN, Adani Realty, Frick, Astor, Carnegie, Samsung, Hyundai, World Bank . Coal, University of St, Adani Group, Reliance, Reliance Industry, Adani Enterprises, AEL “, Tata Group, Modi, India’s, Hindenburg, GQG Partners, Indian School of Business Locations: New Delhi, Gujarat, Davos, Coachella, Silicon Valley, India, China, Mumbai, Antilia, America, Asia, Britain, South Korea, Worth, United Kingdom, University of St Gallen, Switzerland, American

☆ How a strained consumer 'plays right into' the hands of this discount retailer
▼ + stars: | 2024-05-07 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

"That all really kind of plays right into Ollie's hands." Her $92 price target implies about 17%% upside from Monday's close. The average analyst has a buy rating and target for shares suggesting upside of more than 12%, according to LSEG. Ollie's shares are lagging the broader market in 2024 with a gain of almost 5% versus the S & P 500's 9% gain. OLLI 1Y mountain Ollie's shares over the past 12 months.

Persons: Anthony Chukumba, it's, Price, Melanie Nuñez, Ollie's, Nuñez, Chukumba, OLLI, Truist's Scot Ciccarelli, Ciccarelli, TJ Maxx, BofA's Nuñez, Chukumba's, FirstCash Organizations: Capital, Federal, Amazon, Walmart, Bank of America, Wall, Ross Locations: McDonald's, Harrisburg , Pennsylvania, Monday's, Ollie's

☆ Nvidia will surge another 22%, and is still cheap compared to peers despite nearly doubling this year, Goldman Sachs says
▼ + stars: | 2024-05-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Nvidia stock still has 22% upside, even after its near-doubling this year, according to Goldman Sachs. According to Goldman, Nvidia stock still trades at a relatively attractive valuation compared to its peers given how quickly it is growing and how durable those growth trends look in the coming years. Goldman SachsThose investments should power continued revenue and profit growth at Nvidia, especially with its next-generation Blackwell AI chip set to be released later this year. "Notable intra-quarter data points that support the view that AI spending is likely to continue beyond 2024 include" commentary from tech-focused companies, Hari said. Super Micro Computer reported strong revenue growth and a record backlog driven by elevated demand for AI servers.

Persons: Goldman Sachs, Goldman, —, Toshiya Hari, Hari, TSMC Organizations: Nvidia, Service, Blackwell, AMD, Micro Computer

☆ Buffett's Berkshire Hathaway gains as insurance lifts first-quarter profit and cash nears $200 billion
▼ + stars: | 2024-05-06 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Those moves come after Berkshire posted first-quarter operating profit of $11.22 billion, up 39% from the year-ago period, mainly driven by an increase in insurance underwriting earnings. Insurance underwriting earnings rose to $2.598 billion, a 185% increase from $911 million in the year-earlier quarter. Geico earnings swelled 174% to $1.928 billion from $703 million a year prior. Cash soared to a record $188.99 billion in the first quarter, up from $167.6 billion in the fourth quarter. "We had much-improved earnings in insurance underwriting.

Persons: Warren Buffett, Martin, Cash, Buffett, Berkshire Hathaway, Brian Meredith, Edward Jones, James Shanahan Organizations: Berkshire Hathaway, Berkshire, UBS Locations: Omaha , Nebraska, Berkshire

☆ Microsoft's in-house AI model, reportedly called MAI-1, is a chance for CEO Satya Nadella to prove he doesn't need OpenAI
▼ + stars: | 2024-05-06 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Microsoft is building its own AI model dubbed MAI-1, The Information reported. It's a sign Microsoft is ready to depend less on the ChatGPT maker as the AI wars heat up. AdvertisementMicrosoft is reportedly working on its own AI model separately from OpenAI — a chance for CEO Satya Nadella to prove his company doesn't need the ChatGPT maker to get ahead in the AI wars. Microsoft is working on building an in-house large language model model it calls MAI-1, The Information reported earlier this week. That's on top of the smaller, less advanced models Microsoft is developing for smartphone apps, reflecting the tech titan's multi-pronged approach to developing advanced AI.

Persons: Mustafa Suleyman, It's, —, Satya Nadella, Nadella, Google's DeepMind, Kevin Scott, Scott, it's, Microsoft didn't Organizations: Microsoft, Service, MAI, Meta, Business, Microsoft's Locations: ChatGPT, Seattle

☆ Met Gala 2024: Everything we know about the theme, hosts and guests
▼ + stars: | 2024-05-06 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +9 min

Bad Bunny, Jennifer Lopez, Chris Hemsworth and Zendaya will co-chair this year's Met Gala for the exhibition "Sleeping Beauties: Reawakening Fashion." The first celebrities to appear will be Gala co-chairs Zendaya, Jennifer Lopez, Bad Bunny and Chris Hemsworth, the last of whom is making his Met Gala debut. What was the first Met Gala theme? Gwyneth Paltrow famously called the Met Gala “un-fun” in 2013 and said she’d “never” go again, but returned in 2017 (and 2019). Met Gala guests have often broken the no-social-media rule to give a more candid glimpse of who is hanging with who and what goes on behind closed doors.

Persons: CNN —, —, Jared Leto’s, Rihanna, J.G, Ballard, Andrew Bolton, Bunny, Jennifer Lopez, Chris Hemsworth, Zendaya, James Devaney, Victor Aubry, Christina House, Neil Mockford, Bad Bunny, Anna Wintour, Wintour, Arturo Holmes, Karl Lagerfeld, Rei Kawakubo, Charles James, Christian Dior, Alexander McQueen, Gianni Versace, Angela Weiss, Lagerfeld, Anne Hathaway, Nicole Kidman, Jenna Ortega, Chanel, Fendi, Eleanor Lambert, Diana Vreeland, LaunchMetrics, Calvin Klein, “, ” Cher, Ron Galella, ”, Lady Gaga, Kardashian, Jenners, Donald Trump, James Corden’s, Demi Lovato, Zayn Malik, Tina Fey, Fey, David Letterman ”, backtrack, Gwyneth Paltrow, she’d “, Olivia Wilde, Margaret Zhang, Kevin Mazur, Bella Hadid, Dakota Johnson, Jason Derulo, Jay, Solange, it’s, ” Wilde Organizations: CNN, Metropolitan Museum of Art, Costume Institute, Los Angeles Times, American Vogue, New York Times, Getty, Super, Hollywood, Vogue, “ Vogue China Locations: New York, British, American, China

☆ Euro zone business activity grows at fastest pace in almost a year, PMI shows
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: +1 min

Euro zone business activity expanded at its fastest pace in almost a year last month as a resurgence in the bloc's dominant services industry more than offset a deeper downturn in manufacturing, a survey showed on Monday. That was its second month above the 50 mark separating growth from contraction and the highest since May last year. The services PMI leapt to 53.3 from 51.5, above the flash estimate of 52.9 and its highest reading since last May. A sister survey released last week showed factory activity in the euro zone took a turn for the worse in April, highlighting the divergence between the two sectors. The composite future output index dipped only slightly from March's 61.6 - its highest since February 2022 - to 61.6.

Persons: Cyrus de la Rubia Organizations: P Global, Service, Hamburg Commercial Bank, PMI Locations: March's, Hamburg

☆ How Shruti Gandhi, a solo venture capitalist with 15 exits in 5 years, went from underestimated to unstoppable
▼ + stars: | 2024-05-06 | by ( Melia Russell | ) www.businessinsider.com time to read: +7 min

Shruti Gandhi has a simple rule for meeting founders: She only takes the meeting if she wants to invest. Being the solo general partner of her firm, the early-stage outfit Array Ventures, also means she can get deals done quickly. Over the past five years, she's returned most of her maiden $7 million fund to limited partners at a net multiple of almost four. For founders, by foundersThe founders Gandhi has backed like working with her because of her technical chops and hands-on approach. We will back you if you raise a fund,'" Gandhi said.

Persons: Shruti Gandhi, Gandhi, Nikhil Teja Kolli, Kolli, she's, wasn't, Dumbledore, Harry Potter, Champ Bennett, Zimperium's Zuk Avraham, Mehul Nariyawala, Google —, Doktor Gurson, Gurson Organizations: Ventures, Business, PayPal, IBM, Columbia University, True Ventures, Samsung, Google, University of Chicago Booth School of Business, Rad Locations: India, Poughkeepsie , New York, She's

☆ Has the US cracked the code on avoiding recessions? It would be great news for your job security and stock portfolio.
▼ + stars: | 2024-05-06 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +10 min

But some economists have argued that flawed historical economic data puts this claim in question. The further back you go — the NBER data goes to about 1850 — the more common recessions were. He said the NBER's pre-1914 recession data, in particular, is "very poor," and that only economic data collected after World War II is of good quality. "So the growing share of services also means you're going to have more stable economic growth." AdvertisementTo be sure, while a stable economy has its benefits, it's not the only indicator of a healthy economy.

Persons: —, they'll, haven't, George Selgin, what's, NBER, Selgin, Joseph H, Davis, Satyam Panday, Panday, it's, they've Organizations: Service, National Bureau of Economic Research, Cato Institute, of Labor Statistics didn't, US, Vanguard, US Department of Agriculture, Satyam, Federal Reserve, Fed

The earnings season is winding down, but there are some names slated to report that could see big moves — in either direction. Already, more than 80% of companies in the S & P 500 have already posted quarterly results this earnings season as of Monday morning. Against that backdrop, CNBC Pro screened for names reporting this week — with market caps of $1 billion or more — that could experience sharp up- or downside moves, based on trading activity in the options market. Here are the names that made the list: Upstart Holdings is the reporter this week that could be in for the biggest move at nearly 19%. Rideshare stock Lyft also made the list.

Persons: Uber, America's Mihir Bhatia, Bhatia, Lyft, LSEG, Jefferies, John Colantuoni, Colantuoni, Bank of America's Jessica Reif Ehrlich, Ehrlich, WBD Organizations: Disney, CNBC Pro, Holdings, LSEG, Bank, America's, Warner Bros, Bank of America's Locations: California

☆ The Fed will spark an economic crash by delaying rate cuts, State Street equity research chief says
▼ + stars: | 2024-05-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Read previewThe economy is bound to enter a downturn if the Federal Reserve delays cutting interest rates, according to Marija Veitmane, the head of equity research at State Street Global Markets. The Wall Street vet warned of an impending economic crash if the Fed doesn't ease monetary policy soon. Higher interest rates are already taking a toll on economic strength, she noted, even if growth numbers looked fine last quarter. But the economy is already showing signs of strain from the burden of elevated interest rates, Veitmane warned. Markets are largely expecting the Fed to keep interest rates level at its next policy meeting.

Persons: —, Marija Veitmane, Veitmane Organizations: Service, Federal, Street Global Markets, Business, CNBC, AAA

☆ Welcome to ‘the Tepid Twenties’? The US economy’s strength won’t be enough to boost global growth
▼ + stars: | 2024-05-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Invigorating growth is critical: When the economy expands, it improves standards of living, promotes innovation and makes households wealthier. Economic growth in Spain and France was stronger than expected last year. But the US is outperforming mainly for one key reason: Robust productivity growth. Productivity growth came in well below expectations in the first three months of the year, according to Labor Department data released last week. A “course correction” isn’t an even stronger US economy: Economic policymakers around the world need to address a range of key issues.

Persons: ” Kristalina Georgieva, ” Georgieva, ” Stephen Gallagher, Gallagher, “, ”, Hande Atay Alam, Recep Tayyip Erdogan, Israel Katz, John Williams, Neel Kashkari, Lisa Cook, Krispy Kreme, John’s, Austan Goolsbee Organizations: Washington CNN, Monetary, IMF, European Central Bank, Labor Department, Societe Generale, CNN, Reuters, Palantir Technologies, Tyson Foods, Marriott Worldwide, New York Fed, Disney, UBS, Duke Energy, Suncor, Bros, Minneapolis, Toyota, Uber, Anheuser, Busch InBev, Airbnb, Fox Corporation, News Corporation, Duolingo, Icahn Enterprises, New York Times Company, AMC Entertainment, Honda, Warner Bros Discovery, Warner Music Group, Hyatt, Hilton, Bank of England, US Labor Department, United Kingdom’s, National Statistics, University of Michigan, . Chicago Fed, China’s National Bureau of Statistics Locations: Europe, China, United States, Spain, France, Russia, Ukraine, Turkey, Israel, Gaza, Olesya, “ Turkey, Lyft, TripAdvisor

☆ My 15-year-old son and I live in both France and the US. We're more active In France, but appreciate the slower pace of the South.
▼ + stars: | 2024-05-05 | by ( Stephanie Kaloi | ) www.businessinsider.com time to read: +6 min

So I started bringing him with us to France as often as possible, which amounts to about half the calendar year. For example, so far this year we spent all of January in France, and will return in early May for the entire summer. AdvertisementOur daily routine is differentOur days in France always begin and end entirely differently than they do in the US. In France, we tend to stay somewhere close to the city center. Last summer, my son tried more types of pasta than I knew existed, a feat he was enormously proud of, especially as a vegetarian.

Persons: It's, we're, France —, it's, he's Locations: United States, France, Iceland, Panama, Cannes, Grasse, Paris, Nice, Europe, States

☆ Trump hush-money porn star trial: Here's what's happened so far
▼ + stars: | 2024-05-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +6 min

Former US President Donald Trump attends his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, on May 2, 2024. The historic hush-money trial, which still has another three to five weeks to go, marks the first-ever criminal trial of an ex-U.S. president. Fined $9,000 for contempt of courtFormer US President Donald Trump sits in the courtroom at Manhattan criminal court in New York, US, on Friday, May 3, 2024. Prosecutors dig inRepublican presidential candidate and former U.S. President Donald Trump shouts during a campaign event in Freeland, Michigan, U.S. May 1, 2024. Pecker, who said that he purchased the story in order to bury it, said that Trump never reimbursed the company.

Persons: Donald Trump, Doug Mills, He's, he's, Juan Merchan, Trump, Merchan, Attorney Alvin Bragg, Joe Biden, —, doesn't, Trump's protestation, Chris Conroy, Brendan Mcdermid, Michael Cohen, Stormy Daniels, Daniels, David Pecker, Pecker, Donald Trump's, Timothy A, Clary, Cohen, Karen McDougal, Rhona Graff, McDougal, Gary Farro, Keith Davidson, Davidson, Hope Hicks, Alex Wong Organizations: Manhattan Criminal, Afp, Getty, Manhattan Supreme, Reuters, Attorney, Trump, Truth Social, Republican, National Enquirer, American Media, White House, Capitol Locations: New York City, Manhattan, Wisconsin, Michigan, New York, Waukesha , Wisconsin, Freeland , Michigan, U.S, Republic, Washington , DC

☆ Inflation is scrambling Americans' perceptions of middle class life
▼ + stars: | 2024-05-05 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +8 min

For many in the middle class, inflation is at the heart of this feeling. That's making people feel locked out of many of the milestones long associated with middle-class life. 74% of middle class Americans have cut back on non-essential spending, according to Primerica's survey. 46% of middle-class Americans said they've dialed back or completely paused saving for the future and 38% said they didn't think they could afford an unexpected expense over $1000. Buying a home may be the greatest example of a tenet of middle-class life feeling out of reach for many, and that struggle is very real rather than merely negatively perceived.

Persons: —, Vincent, he'd, he's, Eoin Sheehan, Chris Collins, Collins, Jessica, they're, Kayla, Primerica, they've, Sheehan Organizations: Service, Business, Pew Research Center, Redfield & Wilton, Federal, Northwestern Mutual's Collins, Northwestern Mutual, Newsweek, National Association of Realtors Locations: Santa Barbara, California, Alabama, Primerica

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