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☆ Rise of 'phantom debt': The risks of buy now, pay later programs
▼ + stars: | 2024-05-09 | 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 EmailRise of 'phantom debt': The risks of buy now, pay later programsTim Quinlan, Wells Fargo senior economist and managing director, joins 'Squawk Box' to discuss the increase in 'buy now, pay later' transactions, why he believes credit racked up through these programs are hard to measure, how the 'phantom debt' could create trouble in the broader economy, and more.

Persons: Tim Quinlan, Wells Locations: Wells Fargo

☆ 13 cities where hiring is growing — Florida and Texas lead, while the coasts are declining
▼ + stars: | 2024-04-09 | by ( Noah Sheidlower | Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Hiring is increasing in smaller cities and large hubs in Florida and Texas, according to a Gusto analysis. Cities like Orlando, San Antonio, and Houston saw significant increases in hiring share. Whereas major coastal cities accounted for 35% of hiring before March 2020, this percentage is now about 29%. Meanwhile, Florida and Texas cities are on somewhat of a hiring spree. AdvertisementDid you move away from the coasts to Florida, Texas, or a smaller city?

Persons: —, Orlando, that's, Courtney Quinlan Organizations: Houston, Service, Rockies, San, Boise Locations: Florida, Texas, Northeast, California, Orlando, San Antonio, New York City, Los Angeles, Seattle, San Francisco, Jose, Washington, Miami, Austin, St, Louis, Midwest, Florida , Texas

☆ Some New England universities and colleges break $90,000 barrier for total cost in upcoming school year
▼ + stars: | 2024-03-27 | by ( Zenebou Sylla | ) edition.cnn.com time to read: +5 min

CNN —Several New England universities and colleges have reached a pinnacle of at least $90,000 for undergraduate tuition and costs starting this fall. The nearly six-figure sums reflect the rising cost of higher education, far outstripping the average inflation for other goods and services. Schmeidel said very few Wellesley students pay the total fee, adding nearly 60% of its students receive financial aid and the average financial aid award is $67,469. Riley added 56% of domestic students received some form of aid for this academic year, with the average financial aid package being $67,000, for an average cost of attendance of $16,000. “Because this is an average, some of the students with greatest demonstrated financial need paid $0, and others paid more,” Riley said.

Persons: trumping Wellesley, “, Stacey Schmeidel, Schmeidel, ” Schmeidel, Colin Riley, Riley, ” Riley, Jeremiah Quinlan, ”, Quinlan, Patrick Collins, Collins, ” Collins, CNN’s Allison Morrow Organizations: CNN, Yale University, Tufts University, Boston University, BU, Wellesley College, Tufts, Wellesley, College, Colleges, of Education, Labor, Yale Locations: New England, Boston

☆ The proper reading order for TikTok-famous author Sarah J. Maas' 16 books, from 'A Court of Thorns and Roses' to 'The Assassin's Blade'
▼ + stars: | 2024-02-20 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +9 min

BookTok can't get enough of Sarah J. Maas' fantasy series, especially "A Court of Thorns and Roses." Here's the reading order I'd recommend as an avid fan of Maas' books. However, I don't think reading the "Throne of Glass" books in the order they were published offers the best narrative experience. After her two longer series, Maas readers will be ready for the 'Crescent City' booksHalf-fae Bryce Quinlan is at a crossroads when the "Crescent City" series begins, grieving the murder of her best friends by a demon. BloomsburyI would absolutely leave "Crescent City" as your third Maas series for a few reasons.

Persons: BookTok, Sarah J, Maas, —, she's, ahem, Feyre Archeron, Frost, Celaena, Adarlan, fae Bryce Quinlan, Bryce, Hunt Athalar, — they're, I'd, Bryce Quinlan's Organizations: Service, The New York Times, Marvel, Hulu, Wings, Silver Flames, Bloomsbury Locations: TikTok, Maas, Bloomsbury, Adarlan, Crescent, Crescent City

We'll also guide you step-by-step on how to use a VPN to watch UFC 298, no matter where you are. ET / 3 a.m. GMT (Sun) / 11 a.m. AWST (Sun)How to watch UFC 298 in the USUS viewers can watch the main event of UFC 298 on ESPN Plus tonight at 10 p.m. UFC PPV + Annual ESPN+ Membership (Bundle) ESPN+ is the home of UFC PPV events, meaning that fans need to purchase a subscription in addition to buying the one-off cards. Where to watch UFC 298 everywhere elseIf you're not in the US, you still have a few options to watch UFC 298. In Canada, UFC 298 will be available as a pay-per-view through most TV providers and directly via UFC Fight Pass.

Persons: Whittaker, Costa doesn't, We'll, ExpressVPN, Alexander Volkanovski, Ilia Topuria, Robert Whittaker, Paulo Costa, Geoff Neal, Ian Machado Garry, Merab, Henry Cejudo, Anthony Hernandez, Kopylov, Amanda Lemos, Mackenzie Dern, Marcos Rogerio de Lima, Justin Tafa, Rinya Nakamura, Carlos Vera, Zhang Mingyang, Brendson Ribeiro, Josh Quinlan, Danny Barlow, Val Woodburn, Andrea Lee, Miranda Maverick Organizations: Business, Volkanovski, Honda Center, UFC, ESPN Plus, ESPN, TNT Sports, Amazon, Apple, PlayStation, Samsung, BT, BT Sport, League, LG, Elliott Locations: Anaheim, Canada, Australia, New Zealand, Germany, Italy, Spain, Poland, Switzerland, Asia, Africa, Brazil

☆ How high-earning transplants are shaking up dating scenes across the Midwest
▼ + stars: | 2024-02-14 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +9 min

It's introduced a fresh wave of young professionals who are shaking up the dating scene. But a new influx of transplants also creates divides among young professionals and locals. The rise of remote work has resulted in new waves of migration and, in turn, refreshed dating pools around the country. AdvertisementWhen it comes to the future of Midwest dating, “I hope this can change, but I think a lot of people in a lower tax bracket might just move elsewhere,” he said. Gone are the days of app dominance, especially as younger dates forsake online dating for in-person connections.

Persons: —, Peggy Dainty, That’s, ” Dainty, “, ”, St . Louis, Hatch’d, Joshua Sturma, ” Sturma, Louis, Matt R, Matt chalks, There’s “, Courtney Quinlan, She’s, There's, Quinlan, she's, ” Quinlan, It's, They're, Midwesterners, We've, ” Maranda Taylor, Taylor, everybody’s Organizations: Service, Lake Bowl & Theater, Bryant, New York, Bank of America, Indiana University, Dakotas, Twin, Google, Indiana Locations: It's, Minneapolis, there’s, St ., California, Illinois, Indiana , Iowa , Kansas , Michigan, Minnesota , Missouri , Nebraska, North Dakota , Ohio, South Dakota, Wisconsin, New, Hatch’d, ”, Twin Cities, Chicago , Nebraska , Iowa , Kansas, Missouri, Kansas City, Sioux, Omaha , Nebraska, —, America

☆ Inside the rise of Sarah J. Maas, the best-selling author who's taking the 'romantasy' genre to the next level
▼ + stars: | 2024-02-03 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +13 min

Sarah J. Maas' latest book, "House of Flame and Shadow," was published on Tuesday. Publishers are prioritizing romantasy, with Entangled creating Red Tower, an imprint focused on sci-fi and fantasy romance books in 2022. But an organic community of Maas readers formed on social media recently, making her even more widely loved. The pair, who are good friends thanks to BookTok, post videos breaking down the smallest details of Maas' works. Studios founder Molly Werts, 26, runs her shop full-time and met her roommate because they connected over one of Maas' books.

Persons: Sarah J, Maas, —, Samantha Grindell, Harry Potter, it's, Feyre, she's, fae Bryce Quinlan, Stephanie Meyer's, Cassandra Clare's, Tor, Rebecca Yarros, Bramble, Jennifer L, BookTok, TikTok, superfans, Rosie Dent, Dent, Lili, BookTokers, Jaclyn Wooten, Wooten, Molly Werts, romantasy, they've Organizations: Service, Bloomsbury, Marvel, New York Times, Reuters, Publishers, Wings, Studios, Jupiter's, Publisher's, Writers of America Locations: Brooklyn , New York, New York, Connecticut, Florida, Maas, Bloomsbury, Crescent, BookTok

☆ A guide to the most important characters in Sarah J. Maas' 'Crescent City' series
▼ + stars: | 2024-01-17 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +15 min

The "Crescent City" series has a massive cast of characters that can be hard to keep track of. On January 30, Sarah J. Maas will release "House of Flame and Shadow," the third book in her best-selling "Crescent City" series. "Crescent City" has a huge cast of characters, most of which are magical creatures referred to as Vanir. To help prepare you for the third book, Business Insider created a guide to some of the most important characters in the "Crescent City" universe. AdvertisementThe rest of this article contains major spoilers for the "Crescent City" and "A Court of Thorns and Roses" series.

Persons: Sarah J, Maas, —, Bryce Quinlan, Hunt Athalar, Ruhn Danaan, Bryce, Ember Quinlan, Randall Silago, Einar Danaan, Einar, Prince, Ruhn, Danika Fendyr, Orion, Hunt, Bryce's, Danika, Sofie Renast, Baxian Argos, Baxian, Asteri, Connor Holstrom, Bryce ., Archangel Micah, Connor, Luna's Horn, Micah, Declan Emmet, Tristan Flynn, Declan, Flynn, Fury, Juniper, Holstrom, Tharion, Sofie Renast's, Emile, Sabine Fendyr, Ithan, Sabine, Lidia Cervos, Hypaxia Enador, Enador, Celestina, Crescent, Lidia, Sandriel, Pollux Antonius, It's, Hel, Aidas, they're, Rigelus, Bryce doesn't, Feyre Archeron, Nesta, Amren, Cassian, Rhysand, Teller, Gwydion Organizations: Service, Business, 33rd Legion, Alpha, Bloomsbury, of, Sirius, Court, Wings Locations: Lunathion, Crescent, Bloomsbury, Midgard, Crescent City, Valbara, Hel, Ruhn, Nesta

☆ Everything we know about 'Crescent City' author Sarah J. Maas' next fantasy books
▼ + stars: | 2024-01-10 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +8 min

Sarah J. Maas is releasing the third installment of the "Crescent City" series in January. This article contains spoilers for Sarah J. Maas' books. Her next release will continue the "Crescent City" series, though "A Court of Thorns and Roses" will have more installments too. BloomsburyThe "Crescent City" books follow Bryce Quinlan, a half-fae living on the planet of Midgard. However, she refused to confirm whether mates are the same in "Crescent City" as they are in the "ACOTAR" world.

Persons: Sarah J, Maas, —, Bryce Quinlan, Bryce, Rhysand, Rhys, Bryce's, Hunt Athalar, Ruhn, Hunt, Christina Lauren, Christina Hobbs, Lauren Billings, Danika Fendyr, Connor Holstrom, Katie Fraser, Noble, Ember Quinlan, Randall Silago, Danika, Lidia Cervos, Azriel, Eva Chen, Elain Archeron, Archeron, Cassian, Lucien Vanserra, It's, Galathynius, Feyre, Katherine Webber Organizations: Service, Court, The, Barnes, Walmart, Bloomsbury, Silver Flames, Crescent City Locations: Crescent, Prythian, Midgard, Nesta, United States, Ruhn, Billings, Hobbs, Kingdom

☆ The 'phantom debt' of buy now, pay later is growing and will soon hit some Americans hard
▼ + stars: | 2024-01-10 | by ( Cork Gaines | ) www.businessinsider.com time to read: +7 min

Buy now, pay later plans gained popularity in 2023 as an alternative to high-interest credit cards. Buy now, pay later use surged recently and those bills are now dueThe use of buy now, pay later plans skyrocketed during the 2023 holiday season. According to Adobe, which tracks online sales, buy now, pay later plans use was up 47% on Black Friday and 43% on Cyber Monday. According to PYMNTS' survey, 39.6% of respondents used buy now, pay later plans for clothing and accessories and 33.7% used them for groceries. Buy now, pay later debt can be advantageous if used correctly.

Persons: —, Rather, Peter Cade, PYMNTS, Tim Quinlan, Shannon Seery Grein, Selcuk, Mark Luschini, Janney Montgomery Scott, Maria Bartiromo, Luschini, Warren Buffett, Buffett, I've Organizations: Service, Federal Reserve Bank of Philadelphia, Adobe, Household Economics, Science Research Network, Economic, Anadolu Agency, Getty, Wells, US Locations: Wells Fargo

☆ Americans are racking up more 'phantom debt' — why that's a problem
▼ + stars: | 2024-01-07 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Buy now, pay later is now one of the fastest-growing categories in consumer finance, according to a separate report by Wells Fargo. "It's hard to know how much of this debt is out there," said Ted Rossman, senior industry analyst at Bankrate. However, managing multiple buy now, pay later loans with different payment dates can also be a challenge, Quinlan added. "BNPL could lead to an increase in consumer debt, as consumers may be more likely to take on additional debt if they know they can spread out the payments," he said. watch nowWhile the typical terms might break a purchase into four equal interest-free payments, not all buy now, pay later loans work that way.

Persons: Wells, Tim Quinlan, Quinlan, Ted Rossman, Max Levchin, Rossman Organizations: Wells, Finance Locations: Wells Fargo

☆ Mortgages, auto loans, credit cards: Expert predictions for interest rates in 2024
▼ + stars: | 2024-01-03 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

"We are in a high interest rate environment, and we're going to be in a high interest rate environment a year from now," he said. Prediction: Mortgage rates decline to 5.75%Thanks to higher mortgage rates, 2023 was the least affordable homebuying year in at least 11 years, according to a report from real estate company Redfin. McBride also expects mortgage rates to continue to ease in 2024 but not return to their pandemic-era lows. Prediction: Auto loan rates edge down to 7%When it comes to their cars, more consumers are facing monthly payments that they can barely afford, thanks to higher vehicle prices and elevated interest rates on new loans. "It will still be a banner year for savers when those returns are measured against a lower inflation rate," McBride said.

Persons: Tim Quinlan, Greg McBride, McBride, Bankrate Organizations: Finance, Fed, CNBC PRO, CNBC, YouTube Locations: Wells Fargo

☆ Here’s why some bond traders care so much about the US government’s budget deficit nowadays
▼ + stars: | 2023-12-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

And as the mountain of debt keeps piling up, and the government’s budget deficit remains massive, some bond traders are now joining politicians in decrying the government’s ever-growing financial obligation. Those bond traders are seemingly up in arms over the government’s gaping budget deficit — something that occurs when the government’s spending outstrips revenues — which currently stands at roughly $67 billion so far for the current fiscal year. For the full 2023 budget year, the Congressional Budget Office estimated that the deficit stood at a staggering $1.5 trillion. How do we manage the budget deficit? Our interest rate team is looking at the 10-year (US Treasury) yield to be closer to 4% than 5% next year.

Persons: ”, Jerome Powell, Bell, Joe Quinlan, It’s, it’s, what’s, You’d, Powell, ” Powell, they’re Organizations: CNN Business, Bell, DC CNN, Treasury Department, Congressional, Office, Federal, Merrill, Bank of America Private Bank, Treasury, Spelman College, US Labor Department, Institute for Supply Management, US Commerce Department, University of Michigan Locations: Washington, Atlanta

☆ The hidden expense that's sucking $74 billion out of the economy
▼ + stars: | 2023-11-30 | by ( Bartie Scott | ) www.businessinsider.com time to read: +14 min

They said rising costs kept the board from expanding amenities residents wanted, such as a shared composting system. jhorrocks/Getty ImagesRising price for peace of mindIn the constellation of household costs, insurance is often one of the lesser-noticed line items. But recently the rising cost of repairs and the frequency of damaging weather events have made the deal go sour. Rising insurance costs could inflict more pain on another bruised area of the economy: housing affordability. For this reason, insurance companies could decline to cover them or require costly upgrades before agreeing to a policy.

Persons: that'd, Mark Pauly, Tim Quinlan, you'll, Quinlan, it's, Francesco D'Acunto, D'Acunto, Pauly, they've, Nature, John Coletti, That's, Bartie Scott Organizations: Insurance, Research, Bank of America, Global, American, Casualty Insurance Association, University of Pennsylvania's Wharton School of Business, Insurance Information Institute, Georgetown University's McDonough School of Business, Social Security, National Flood Insurance, Business Insider's Locations: Logan, Chicago, Florida, Wells Fargo, California

☆ Ukraine and the US are mixing weapon systems that weren't built to play together to up Kyiv's defenses, and apparently they work
▼ + stars: | 2023-11-14 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

They've seen success in using US missiles with Buk-M1 systems and HARM missiles on Soviet fighter jets. AdvertisementWith its air defenses working overtime to defend against constant Russian strikes, Ukraine is working with the US to create new capabilities by cobbling together Western and Soviet systems that weren't built to play together. Reporting earlier this year indicated Ukraine had found ways to modify the Soviet Buk air defenses to fire the RIM-7. The US and its Western allies have offered Ukraine air defenses like Patriot batteries, IRIS-T, NASAMs, and Gepard anti-aircraft guns, but Ukrainian forces continue to operate a number of Soviet air defenses, the Buk and the S-300 being among the most prominent. AdvertisementThe new capability was promising for Ukraine and indicated future modifications to its Soviet systems could be made, like firing US missiles from Soviet Buk vehicles, which are self-propelled, mid-range surface-to-air missile systems.

Persons: They've, —, Yurii Ihnat, Ihnat, SAMs, Richard, Diana Quinlan, James Hecker, Theodore Roosevelt, Seaman Anthony N, Olaf Scholz, Germany Organizations: Soviet, Service, Ukrainian Air Force, Kyiv Independent, RIM, American AIM, New York Times, IRIS, Amphibious, NATO, Valiant, U.S . Navy, Pentagon, US Air Forces, US, Politico, Marines, Thunderbolts, Marine Fighter Attack, Radiation, Nimitz, Communication, AIM Locations: Ukraine, Soviet, United States, American, Russia, Europe, Taiwan, Russian, Crimea

☆ A credit card Christmas: Taking on shopping debt carries more risk this holiday season
▼ + stars: | 2023-10-26 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

This holiday season, shoppers who ring up purchases on credit cards will pay more interest if they carry balances from month to month after the Federal Reserve's string of rate hikes. Already, investors and retailers have paid closer attention to credit card payments — and some have cited them as a concern. The company, which has its own branded credit cards, has seen lower revenues from those cards because of costs associated with bad debt and related write-offs. Mitchell said student debt, auto loans and mortgages have all become bigger burdens in a high interest rate environment. For retailer-issued cards, the average interest rate is nearly 30%, a record high, according to data from Bankrate.

Persons: Alexi Rosenfeld, Aditya Bhave, Bhave, Taylor Swift, Wall, Adrian Mitchell, Mitchell, Doug McMillon, Tim Quinlan, Wells, Quinlan Organizations: Getty, Shoppers, Bank of America, Consumers, Walmart, U.S . Federal Reserve Locations: New York City, Wells Fargo

☆ 5 things investors should know about a coming recession, according to Bank of America
▼ + stars: | 2023-10-24 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The latest Bloomberg poll shows forecasters give 55% odds for a US recession in the next 12 months. Bank of America broke down the top factors to watch for ahead of a potential downturn. Third, investors should also understand that recessions typically do not last long. On average, recessions last just over 10 months, Bank of America said. Stock returns from post-recession lows have proved historically strong, with an average of 19.7% 3-month returns, 28% 6-month returns, and 43.7% 12-month returns.

Persons: —, Merrill, Joseph P, Quinlan, Stock Organizations: Bloomberg, Bank of America, of, Service, BofA Private Bank, National Bureau of Economic Research, Federal Locations: of America's

☆ 'Sticky' inflation is still high but that is a good sign for the health of the economy
▼ + stars: | 2023-10-19 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As interest rates skyrocketed over the last 18 months, inflation fell from a 40-year high during the summer of 2022. Laoshi/Getty ImagesMcCulley echoed this when asked if strong retail sales are sign that the economy is not coming in for a soft landing. In the short term, further declines in inflation could be difficult if people are spending money they saved during the pandemic. Strong consumer spending is a good sign, but the economy is not out of the woods yet.

Persons: it's, —, Daniel Greenhaus, Greenhaus, Paul McCulley, McCulley, Tim Quinlan, Quinlan, Laoshi, didn't, Tom Barkin, ZIlloq, Paul Bradbury, Patrick Harker, Harker Organizations: Service, payrolls, Georgetown's School of Business, Wells, Richmond, Getty Images, Fed Locations: Wells Fargo

Retail sales rose 0.7% in September, more than twice what economists had expected, and close to a revised 0.8% bump in August, the Commerce Department reported Tuesday. The government’s monthly retail sales report offers only a partial look at consumer spending; it doesn’t include many services, including health care, travel and hotel lodging. But the robust sales report also means that the Fed officials could leave the door open for additional rate hikes. The retail sales report came as businesses across the U.S. economy ramped up hiring in September, defying surging interest rates, and the ongoing threat of a government shutdown. Consumer prices rose 0.4% from August to September, below the previous month’s 0.6% pace.

Persons: wasn’t, ”, Christopher S, Rupkey, “, Tim Quinlan, Christopher Rugaber, —, Anne Organizations: Commerce Department, Federal Reserve, Fed, FWDBONDS, “ Fed, Analysts, Wells, Wells Fargo Economics, ”, Labor Department Locations: Israel, Wells Fargo, U.S, Washington

☆ 'Higher for longer' isn't just about rates: Here's how to play elevated everything
▼ + stars: | 2023-10-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Each "higher for longer" item carries investment implications. Here's a look at how each category breaks down: Interest rates "I do subscribe to the new moniker, 'higher for longer.' That statement came from someone who nevertheless thinks the central bank doesn't have to take rates any higher than where they are now. Defense spending Geopolitical tensions, such as the wars in Ukraine and Israel, as well as the "cold war in Asia," should lead to an increase in defense spending around the world. In 2022, global defense spending hit a record $2.2 trillion, Quinlan said, citing Stockholm International Peace Institute data.

Persons: Joseph Quinlan, Merrill Lynch, Quinlan, Patrick Harker Organizations: Federal Reserve, Bank of America Private Bank, Philadelphia Fed, Investors, Defense, Stockholm International Peace Institute Locations: Israel, U.S, Ukraine, Asia, Stockholm, Washington

☆ Massive home-price appreciation might be the secret to keeping consumers afloat as savings dry up
▼ + stars: | 2023-08-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Homeowners' equity is the highest it's been in 25 years, which could provide a cushion as consumer savings dwindle. That trend could be set to continue as the massive accumulation of home equity provides a lifeline that consumers can tap into if things get tough. Bankrate data shows that home equity lines of credit, or HELOCs, are currently carrying an average rate close to 7%. Home equity revolving credit balances climbed for the fourth straight quarter leading up to March 2023, which presents another factor that could help sustain consumer spending. Now, real estate accounts for about 25% of total household assets, and despite deteriorating savings, still-rising equity presents a potential path forward for consumers to keep spending, Quinlan and Seery said.

Persons: Tim Quinlan, Shannon Seery, that's, Quinlan, Seery Organizations: Soaring, Service, Homeowners, Federal Reserve Board, Wells Locations: Wells, Wall, Silicon, Wells Fargo

☆ Why Legacy Admissions Are at the Center of a Dispute in Higher Education
▼ + stars: | 2023-07-26 | by ( Vimal Patel | More About Vimal Patel | ) www.nytimes.com time to read: +1 min

Critics have said for years that the century-old practice perpetuates privilege, and a handful of colleges, including Amherst and Johns Hopkins, have recently stopped using the preferences. Others, including the University of California system, the University of Georgia and Texas A&M University, ended the practice after they were pressured by lawsuits and ballot initiatives to stop using affirmative action, according to a Century Foundation analysis. Why do colleges use them? Colleges say that legacy preferences help create an intergenerational community on campuses and grease the wheels for donations, which can be used for financial aid. Some college leaders have said that legacy preferences play a small role in admissions decisions and that the students who are admitted under the system are highly qualified.

Persons: Johns Hopkins, ” Jeremiah Quinlan Organizations: Amherst, University of California, University of Georgia, M University, Century, Harvard, Yale Locations: Texas

☆ With Hollywood on Strike, a Bright Spot in New York’s Economy Goes Dark
▼ + stars: | 2023-07-21 | by ( Stefanos Chen | More About Stefanos Chen | ) www.nytimes.com time to read: +1 min

By day, Ryan Quinlan handles the desk lamps, sconces and chandeliers that appear in films and television shows. At night, he rents out props from his Brooklyn warehouse, like an Egyptian sarcophagus and a taxidermy leopard. It joined the screenwriters union, the Writers Guild of America, which has been on strike since May. “This shut down all of my streams of income,” Mr. Quinlan, 44, said. But it’s not just actors and writers who are out of work.

Persons: Ryan Quinlan, Mr, Quinlan, it’s Organizations: Hollywood, SAG, Writers Guild of America Locations: Brooklyn, New York, Los Angeles, United States

☆ Celebrities like Ryan Reynolds and Gwyneth Paltrow are flocking to LinkedIn to show off their business acumen
▼ + stars: | 2023-07-11 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

LinkedIn is a professional social media platform for normies, but now celebrities want in too. Stars like Ryan Reynolds and Gwyneth Paltrow are showing off their business side on the platform. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Reynolds's posts include promoting Mint Mobile and his other business ventures, such as ownership of Welsh soccer team Wrexham. He's not the only celebrity to do so with Mindy Kaling, Jennifer Lopez, and Gwyneth Paltrow also making an effort to blend into the professional world of LinkedIn.

Persons: Ryan Reynolds, Gwyneth Paltrow, Reynolds, I've, He's, Mindy Kaling, Jennifer Lopez, they've, Jenna Drenten, influencers, Richard Burton, Mark Borkowski, Daniel Roth, there's, Amobi Okugo, Raphaël Varane, Okugo Organizations: Service, LinkedIn, Mint Mobile, Mobile, Street, Welsh, Welsh soccer, Wrexham, Social, Twitter, Chicago's Quinlan School of Business, Financial Locations: Wall, Silicon

☆ What Supreme Court ruling against Biden's student loan forgiveness plan could mean for the U.S. economy
▼ + stars: | 2023-06-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Seksan Mongkhonkhamsao | Moment | Getty ImagesThe Supreme Court struck down the Biden administration's student loan forgiveness plan Friday. "The Supreme Court decision to strike down loan forgiveness should have no meaningful impact on the economy," said Mark Zandi, chief economist of Moody's Analytics. The fight against inflation gets a boostIt's challenging to judge the economic effect of a sweeping policy such as student loan forgiveness. However, the resumption of monthly student loan payments in October, after a three-year pause, will likely have a bigger effect. That said, there are student loan policies that have already been enacted by the Biden administration that will likely help borrowers affected by Friday's Supreme Court ruling, economists said.

Persons: Seksan, —, Mark Zandi, Shai Akabas, Zandi, Tim Quinlan, Quinlan, Biden Organizations: Biden, Moody's, Finance, Supreme, Reserve, Center, Wells, Wells Fargo Economics, Friday's Locations: U.S, Wells Fargo

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