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☆ Strained Chinese cities struggle to pay home buying subsidies
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: +2 min

Chinese cities have promised subsidies and other incentives to prop up the ailing property sector but have failed to deliver, frustrating potential homebuyers. The 30-year-old now pays 6,000 yuan of her 8,000 monthly salary on the mortgage for the 1.1 million yuan apartment and another 1,800 yuan to rent another one, relying on her parents for other basic expenses. Weifang, with a population of more than 9 million and an economy larger than Croatia's, and dozens of other Chinese cities, have promised subsidies and other incentives to homebuyers to prop up the ailing property sector. But the real estate downturn also affects the ability of cities to lease land to developers, a key revenue source. This meant some local governments were unable to raise funds to pay the promised subsidies, frustrating buyers and casting doubts over future support measures.

Persons: Amy Wang, Wang, Christopher Beddor, Gavekal Organizations: People's, Communist Party Locations: Hangzhou city, Zhejiang province, China, Weifang, Shangqiu

☆ This emerging market fund has outperformed over 1, 5 and 10 years. Here's how
▼ + stars: | 2024-04-30 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

The global emerging markets fund managed by Aubrey Capital has achieved impressive returns over the past decade. This approach has helped the Aubrey Global Emerging Markets Opportunities Fund to post returns of 13.8% over the past year, nearly double the MSCI Emerging Market Index 's 8.2% gain. Aubrey's investment approach is based on its Global Emerging Markets Strategy , which oversees nearly $600 million of assets. Out of about 2,000 consumer-facing companies in the emerging markets universe, Aubrey is only invested in about 35. Nearly half the Aubrey Global Emerging Markets Opportunities Fund is invested in India.

Persons: Aubrey Capital, Mark Martyrossian, Aubrey, Martyrossian, Taiwan's, It's, Varun Organizations: Aubrey, CNBC, Aubrey Global, Fund, Global, PepsiCo, Companies, Arca Continental, Burger King, Arcos Dorados, DLF Locations: Turkey, South Africa, Hong Kong, China, India, United States, Mexico, Brazil, Delhi, Mumbai

☆ FCC fines big phone companies nearly $200 million for sharing customer location data
▼ + stars: | 2024-04-30 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

The FCC fined four US network providers nearly $200 million for illegally sharing customer data. AdvertisementThe Federal Communications Commission fined four US wireless carriers close to $200 million for illegally sharing access to customers' location data. The FCC said on Monday that these phone companies sold customers' location data to "aggregators," who resold access to the data to companies that provide location-based services. The FCC said dozens of location-based services accessed phone companies' customer data without ensuring consumer consent, even after the phone companies were aware of the links. In response to the FCC fines, all three phone providers said they expect to appeal the decision.

Persons: —, Jessica Rosenworcel, Ron Wyden Organizations: FCC, Service, Federal Communications Commission, Verizon, Mobile, Sprint, Companies, CNN

☆ AI has yet to be truly transformational like the internet, CEO says
▼ + stars: | 2024-04-29 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +2 min

AI-powered solutions need to incorporate real-time data into their responses to be the most useful, he added. "My life has not been transformed by AI," MongoDB CEO Dev Ittycheria said in an interview with TechCrunch. AdvertisementAI services will have to incorporate "real-time data" to make them transformative to the average person, Ittycheria said. "I think that's where we will start seeing much more sophisticated apps, where you can embed real-time data along with all the reasoning." Bill Gates has compared AI to seismic tech advancements like the invention of the PC or the internet.

Persons: it's, Dev Ittycheria, —, Ittycheria, Bill Gates, Mark Zuckerberg Organizations: Service, TechCrunch

☆ ‘Great enigma’: Amateur archaeologists unearth mysterious Roman object
▼ + stars: | 2024-04-29 | by ( Emily Blumenthal | ) edition.cnn.com time to read: +3 min

CNN —Amateur archaeologists in England have unearthed one of the largest Roman dodecahedrons ever found, but mystery surrounds what it was actually used for. The 12-sided object is one of just 33 known to exist in Roman Britain, and one of approximately 130 in the world. It is considered “one of archaeology’s great enigmas,” according to the Norton Disney History and Archaeology Group, an amateur group based in the English region of Lincolnshire where it was found in June. “It is completely unique,” said Richard Parker, secretary of the Norton Disney History and Archaeology Group, adding that no similar objects have ever been found. Norton Disney History and Archaeology GroupParker told CNN there are no descriptions of the dodecahedron in Roman literature, and they have not been depicted pictorially in mosaics.

Persons: “, ” Andrea Martin, ”, Richard Parker, It’s, ” Parker, Parker, we’re Organizations: CNN — Amateur, Roman, Norton Disney, Archaeology Group, Lincoln Museum, Lincolnshire County, Lincoln Festival, CNN Locations: England, Roman Britain, Lincolnshire

☆ A man was arrested after Mint Butterfield, whose dad cofounded Slack and mom cofounded Flickr, was found in the back of a van
▼ + stars: | 2024-04-29 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +3 min

Butterfield's parents cofounded Flickr, and their father later cofounded Slack. Their parents, Caterina Fake and Stewart Butterfield, cofounded Flickr in 2004, and Stewart Butterfield went on to cofound Slack. Their disappearance resulted in an extensive search effort in Tenderloin, an area in San Francisco known for homelessness, crime, and drugs. Butterfield's parents, Stewart Butterfield and Caterina Fake, were married from 2001 until 2007, the New York Post reported. Stewart Butterfield cofounded Slack in 2013 with Cal Henderson.

Persons: Butterfield, Slack, —, Mint Butterfield, Caterina Fake, Stewart Butterfield, cofound Slack, Christopher, Kio, Dizefalo, Adam Schermerhorn, Schermerhorn, Jyri Engeström, Cal Henderson Organizations: Flickr, Service, Saturday, Police, Marin County Sheriff's, San Francisco, Office, New York Post, Yahoo Locations: San Francisco, Tenderloin, Marin County, Marin

☆ The Fed is focusing on 'flawed' data and keeping rates high will result in a big policy mistake, economist says
▼ + stars: | 2024-04-29 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Read previewThe Federal Reserve's fixation on a streak of "flawed" data to justify keeping interest rates higher for longer is bound to spark a policy mistake, according to top economist David Rosenberg. "The Fed seems to be focusing not just on flawed data, but on headlines only. Finally, he noted that the Fed's long-term view of the economy as still hot based on non-farm payroll data was dashed by the Quarterly Census of Employment and Wages and Business Employment Dynamics. Rosenberg pointed out that the payroll report may be exaggerating actual employment by 70,000 per month. Meanwhile, BED data indicated a 192,000 drop in private employment in Q3 of last year, whereas private job payroll data reported a significant 521,000 increase in that time.

Persons: —, David Rosenberg, Rosenberg, it's Organizations: Service, Business, Fed, Quarterly, Employment Dynamics

Currently, 30-year mortgage rates are above 7%, according to Zillow data. Hotter-than-expected economic data has pushed mortgage rates up this year. This would allow more hopeful homebuyers to enter the market and find a home with an affordable monthly mortgage payment. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Fannie Mae, homebuyers, you'll Organizations: Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Mental-health professionals explore AI-powered digital therapeutics to treat patients and improve care
▼ + stars: | 2024-04-29 | by ( Christine Macintyre | ) www.businessinsider.com time to read: +8 min

The fusion of human ingenuity and machine intelligence is offering an innovative approach to personalized mental-health care. They can also use AI to assess the quality of their services and find ways to improve as providers of mental-health care. As technology becomes more involved in mental-health care, ensuring data security, confidentiality, and equitable access to services must be top priorities. How an AI platform is helping mental-health-care providers improve their servicesThe AI platform Lyssn is another tech-driven tool for mental-health services. Lyssn aims to hold providers accountable for improved care, especially because "the quality of mental-health care is highly variable," Imel said.

Persons: —, Christopher Romig, Stella, Shaheen Lakhan, Daniel Rimm, Haig Goenjian, Zac Imel, Michael Tanana, Imel, Darin Carver, Carver, It's Organizations: Service, Therapeutics, Click Therapeutics, Food and Drug Administration, Weber Human Services Locations: Tanana

Shark NeverChange Air Purifier Max The Shark NeverChange Air Purifier Max is a powerful air-cleaning machine for large spaces, and the best part is that you only need to change its filter every five years. Camryn Rabideau/Business InsiderThe Shark NeverChange Air Purifier Max took less than 5 minutes to unbox and get running. Our review of the Shark NeverChange™ Air Purifier MAXAdvertisementEase of UseThe air purifier’s display screen shows the real-time air quality in your home. AdvertisementThe bottom lineFor large spaces, the Shark NeverChange Air Purifier Max is worth the investment. Camryn Rabideau/Business InsiderThe Shark NeverChange Air Purifier Max is a worthwhile option that requires minimal maintenance and covers large rooms.

Persons: Max, Camryn, Philip M, Tierno Jr, Tierno, it's, There's Organizations: Business, Shop, Energy, Stratos, NYU Grossman School of Medicine, NYU Langone Medical, Honeywell

☆ Family offices are looking beyond the stock market for higher returns, new report finds
▼ + stars: | 2024-04-29 | by ( Robert Frank | ) www.cnbc.com time to read: +5 min

The family offices covered by the survey had 26% of their assets invested in publicly traded stocks. The study surveyed 190 single family offices around the world, with an average of $1.4 billion in assets. In the U.S., only 49% of family offices have a long-term target return for their portfolio. Still, family offices use various benchmarks for their investment portfolios, with more than three-quarters of those surveyed using some benchmark to evaluate performance. Increasingly, family offices are looking to outsource more functions to reduce costs, especially among smaller family offices of under $500 million.

Persons: William Sinclair, Sinclair, cybersecurity, Robert Frank Organizations: JPMorgan Private Bank Global, Family, JPMorgan Private Bank, JPMorgan Locations: U.S

☆ 10 in-demand remote jobs companies are hiring for right now—many pay over $100,000
▼ + stars: | 2024-04-29 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

The most popular remote jobs companies are hiring for transcend tech to include opportunities in real estate, health care and even forensics, according to new research from Indeed. Although various measures have shown that the remote job market is shrinking, Indeed reports that the volume of remote job postings on its platform remains high. The job search site saw a 40% increase in remote job openings between March 2023 and March 2024. Indeed identified the 10 most in-demand remote jobs companies are hiring for right now by analyzing its database for the roles that had the highest volume of remote listings between January and April 2024. Here are the 10 most in-demand remote jobs companies are hiring for:1.

Persons: Gabrielle Davis, Davis Organizations: CNBC, Social

☆ A 15-year-old law review by Brett Kavanaugh offers a clue at how the Supreme Court Justice could rule in Trump's immunity case
▼ + stars: | 2024-04-29 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

Many in the political world are waiting with bated breath as the Supreme Court considers arguments over whether Donald Trump is immune from criminal prosecution for his behavior while in office. Depending on how the high court rules, some of Trump's most serious legal troubles could melt away instantly. But one clue, hidden in a 2009 legal review written by Trump-appointed Justice Brett Kavanaugh, could indicate how the conservative judge may decide in this case. One might contend that the country needs a check against a bad-behaving or law-breaking president, Kavanaugh acknowledges, but "the Constitution already provides that check." AdvertisementRepresentatives for the Supreme Court did not immediately respond to a request for comment from Business Insider.

Persons: Donald Trump, Trump, Brett Kavanaugh, Kavanaugh, didn't, Jonathan Entin, Ruth Bader Ginsburg, Entin, SCOTUS Organizations: Service, Republican, US, Case Western Reserve University, Supreme, DC Circuit, Department of Justice, Democratic, Trump, Business Locations: Minnesota

☆ Trouble brews at The Wall Street Journal, where EIC Emma Tucker faces falling morale and the union edges toward a strike
▼ + stars: | 2024-04-29 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

Read previewEmma Tucker's arrival at The Wall Street Journal a little over a year ago was met with enthusiasm. This story is available exclusively to Business Insider subscribers. Business Insider talked to a dozen insiders for this story; many of them said they had felt a shift from optimism to angst regarding Tucker and the newsroom generally. A Journal spokesperson said Tucker wasn't available to comment but offered an interview with Taneth Evans, Tucker's associate editor. Evans told Business Insider that the changes were drawn out to give the new leadership time to understand how the newsroom works.

Persons: —, Emma Tucker's, Tucker, She's, effused, Liz Harris, Dow Jones, IAPE, Tucker wasn't, Taneth Evans, Tucker's, Evans, I've, Harris, Emma Tucker, Joy Malone, Rupert Murdoch, Matt Murray, Murray, Elon, Taylor, I'm, OpenAI's Sam Altman, Michael Bloomberg's, Lachlan Murdoch, Adrian Edwards, Axel Springer Organizations: Service, Wall, Business, Dow, Independent Association of Publishers ' Employees, CWA, Associates, Sunday Times, The New York Times, Times, Boeing, News Corp Locations: New York, London, Tesla, Gaza, New York City

☆ Germany's far-right AfD party is finding success on TikTok — as its popularity among young voters grows
▼ + stars: | 2024-04-29 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +6 min

Cardboard stands with the AfD logo lie on the chairs in the Wiesenhalle before the start of the AfD Brandenburg state party conference. Traditionally, young voters are seen as more left-leaning, but the voting data suggests some divergences, with experts pointing to social media and what they describe as online echo chambers. A study published earlier this month showed that over half of those aged 14-29 in Germany use social media to stay updated about news and politics. But Berendsen told CNBC that it is one of the social media platforms where the tunnel-effect can be an issue. An AfD spokesperson confirmed to CNBC that its videos and texts posted on social media are tailored to young people.

Persons: Monika Skolimowska, Infratest Dimap, Eva Berendsen, Anne Frank, Baerbock, Maximilian Krah, TikTok, Berendsen Organizations: Getty, Russia, Anne, CNBC Locations: Hesse, Germany

☆ 29% of households have jobs but struggle to cover basic needs: They are 'one emergency from poverty,' one expert says
▼ + stars: | 2024-04-29 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Stubborn inflation has driven many households near the breaking point, but the pain of high prices has not been shared equally. By most measures, low-income households have been hardest hit, experts say. The Federal Reserve responded with a series of interest rate hikes that took its benchmark rate to its highest level in more than 22 years. The spike in interest rates caused most consumer borrowing costs to skyrocket, putting many households under pressure. Inflation continues to prove stickier than expected, dashing hopes that the Fed will be able to cut interest rates anytime soon.

Persons: ALICE, Brett House, Greg McBride, we've, Jerome Powell, Hoopes Organizations: Columbia Business School, Federal, Labor Department's Bureau of Labor Statistics

☆ The real problem with commercial real estate is people not coming to work, says Bruce Ratner
▼ + stars: | 2024-04-29 | 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 EmailThe real problem with commercial real estate is people not coming to work, says Bruce RatnerBruce Ratner, former New York City real estate developer and 'Early Detection' author, joins 'Squawk Box' to discuss the real estate market, state of commercial real estate, mortgage rate outlook, Ratner's personal crusade against cancer, and more.

Persons: Bruce Ratner Bruce Ratner Organizations: New York Locations: New, New York City

☆ EU investigates Meta over fears of election interference and foreign disinformation
▼ + stars: | 2024-04-29 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Officials said the investigation highlights apparent violations of Europe’s signature law governing online platforms, the Digital Services Act. They added that Meta’s tools for users to report illegal content don’t appear to align with the DSA’s requirements, either. The investigation comes after Meta submitted required materials to the European Commission last fall outlining how it manages perceived risks linked to its products. Without it, the European Commission said, users and researchers will have less visibility into what is happening on Meta services and could have a harder time detecting foreign election interference. “We look forward to continuing our cooperation with the European Commission and providing them with further details of this work.”

Persons: Meta, CrowdTangle, “, ” Organizations: CNN — European Union, European Commission, Officials, Digital Services, European, Facebook

☆ Bonds offer income and some volatility protection. Pick out the right bond fund for your portfolio
▼ + stars: | 2024-04-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

That said, in general, most investors would be best served buying a diversified bond fund, said Mulach. What to look for in bond fundsThere are several factors to consider when investing in a bond fund. Intermediate-core durations typically range between 75% and 135% of the three-year average of the effective duration of the Morningstar Core Bond Index. Top Morningstar Bond Funds Ticker Fund Morningstar Category Type 30-day SEC yield Adj. Aggregate Bond ETF can be a great option to simply replicate that index, he said.

Persons: Morgan Stanley, shouldn't, Morningstar, Mike Mulach, Chuck Failla, Failla, Mulach, You'll, Baird, BSBSX Baird, Morningstar's Organizations: Treasury, Federal Reserve, Sovereign Financial, Morningstar, SEC, Mutual, FLTB Fidelity, Fidelity, Hartford, Aggregate

☆ Goldman names 'stable growers' to buy as higher rates put brakes on 2024 rally
▼ + stars: | 2024-04-29 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

"Stocks with stable growth typically perform best alongside decelerating economic growth." In this economic climate, Goldman is advising clients to buy stocks offering stable growth. The Wall Street bank screened Russell 1000 stocks for those with the most stable growth in earnings before taxes, depreciation and amortization on a quarterly basis over the past 10 years. "Should the outlook for earnings growth deteriorate, the recent stretch of quality outperformance will likely continue and also expand to include stocks with stable growth," Goldman said. Industrial companies such as Waste Management and Fastenal also made the list, as well as consumer discretionary names Domino's Pizza and AutoZone .

Persons: Goldman Sachs, David Kostin, Goldman, Fastenal Organizations: Federal Reserve, Russell, PepsiCo, Colgate, Palmolive, Waste Management

☆ Florida’s 6-week abortion ban set to take effect this week
▼ + stars: | 2024-04-29 | by ( Deidre Mcphillips | ) edition.cnn.com time to read: +6 min

CNN —A stricter abortion law is set to take effect in Florida on Wednesday — dropping the state’s 15-week ban to a six-week ban — and it will likely affect thousands of people seeking abortion care within the first month alone. In Texas, the number of abortions provided within the formal health-care system dropped by about half after a six-week abortion ban took effect in 2021, and there were thousands more births than expected in the following year. Florida will join Georgia and South Carolina with a six-week ban. The Tampa Bay Abortion Fund anticipates that at least 90% of people who call their hotline will be impacted by a six-week abortion ban and will need to seek abortion care outside of Florida. The six-week ban will only exacerbate those barriers in the cruelest fashion,” Kris Lawler, president of the Tampa Bay Abortion Fund Board said in a statement.

Persons: Court’s Dobbs, Roe, Wade, It’s, don’t, —, Virginia —, ” Isaac Maddow, “, ”, Dobbs, Amber Gavin, that’s, Gavin, ” Gavin, Dr, Sanjay Gupta, ” Kris Lawler Organizations: CNN, Guttmacher Institute, ., Florida Supreme, CNN Health, Chicago Abortion, Abortion, Board Locations: Florida, Texas, South Carolina, Georgia, Delaware, Maryland, Virginia, North Carolina, Louisiana, Florida , North Carolina, New York, Tampa, Chicago

☆ The live-action 'Lion King' prequel 'Mufasa' will star both Beyoncé and Blue Ivy — here's everything we know
▼ + stars: | 2024-04-29 | by ( Kirsten Acuna | Palmer Haasch | ) www.businessinsider.com time to read: +6 min

Disney's live-action "The Lion King" remake is getting a prequel in 2024 called "Mufasa: The Lion King." AdvertisementDisney's prequel to its "The Lion King" remake, "Mufasa: The Lion King," has finally gotten its first trailer — and as luck would have it, this film stars Beyoncé too. Here's everything we know about "Mufasa: The Lion King." Timon and Pumbaa are seen in 2019's "The Lion King." "Mufasa: The Lion King" serves as an origin story for Simba's father.

Persons: Disney's, King, Oscar, Barry Jenkins, Disney, Ivy, —, Beyoncé, Jon Favreau's, Simba, Sean Bailey, Jenkins, Mufasa, Rafiki, hasn't, Scar, Mufasa's, Chiwetel Ejiofor, Aaron Pierre, James Earl Jones, Tiffany Boone, Kelvin Harrison Jr, Taka, Mads Mikkelsen, Kiros, Nala, Simba's, Blue Ivy, Pumbaa, Seth Rogen, Billy Eichner, Donald Glover, John Kani, he's, Walt, Timon Organizations: Service, Disney, Walt Disney Studios, Pride Rock Locations: Pride

☆ Adam Neumann got cut out of WeWork's restructuring deal
▼ + stars: | 2024-04-29 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

WeWork has a new plan to get out of bankruptcy — and it doesn't involve Adam Neumann. Neumann is seeking to acquire the company he created for more than $500 million. AdvertisementWeWork has a new plan to get out of bankruptcy — and it doesn't involve Adam Neumann, who wants to acquire the flexible office provider he created. AdvertisementBut Neumann, who has recently expressed interest in purchasing WeWork for more than $500 million, doesn't plan to go down without a fight. The company filed for bankruptcy in November 2023 after the pandemic dealt a massive blow to its business model.

Persons: WeWork, Adam Neumann, Neumann, —, Cupar Grimmond, SoftBank, Yardi Organizations: Service, Bloomberg

Following a long period of waiting, "the IPO market's back." That's according to Colin Stewart, Morgan Stanley's global head of technology equity capital markets. In an interview with CNBC's "TechCheck" on Monday, Stewart said 10 to 15 more tech companies could go public before the end of 2024, with an even "better year" in store for 2025. Morgan Stanley was the lead banker on the Reddit and Astera IPOs, positioning itself to collect roughly $37 million in total fees. Wall Street rival Goldman Sachs led the latest venture-backed tech IPO last week.

Persons: Colin Stewart, Morgan, CNBC's, Stewart, It's, we've, Reddit, Morgan Stanley, Astera, Goldman Sachs Organizations: Wall Street, New York Stock Exchange

When you miss a mortgage payment, you incur late fees and hurt your credit score. But skipping mortgage payments comes with serious consequences that could include losing your house. Are you finding it hard to make your monthly mortgage payment? This allows you to pause your mortgage payments for a certain amount of time or, in some cases, make reduced payments instead. FAQsWhat should I do first if I realize I can't make my mortgage payment?

Persons: Craig Martin, Christian Mills, Freddie Mac, you've, you'll, it's, Aly J, Yale Aly J, Bob Organizations: Christian, US Department of Housing, Urban, Chevron, Yale, Forbes, Money Magazine, The Dallas Morning News, Bob Schieffer College of Communication, Twitter

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