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☆ Student protesters facing disciplinary action may also deal with financial setbacks
▼ + stars: | 2024-05-07 | by ( Annie Nova | ) www.cnbc.com time to read: +5 min

NYPD officers in riot gear enter Columbia University's encampment as they evict a building that had been barricaded by pro-Palestinian student protesters in Los Angeles, United States on April 30, 2024. Shay Horse | Nurphoto | Getty ImagesStudents can lose housing and morePro-Palestine protesters locked arms after several demonstrators knocked fences down and opened the Massachusetts Institute of Technology (MIT) encampment back to student protesters during the demonstration. Rallies and protest camps persist at the Massachusetts Institute of Technology (MIT) campus as student demonstrators demand divestment from Israeli military ties. Federal loan bills could come earlierSuspended or expelled students may also get their federal student loan bills sooner than they expected, Kantrowitz said. If a suspension ends and a student returns to college before the six months, their grace period should reset, Kantrowitz said.

Persons: Shay Horse, Sally Kornbluth, Vincent Ricci, Martin Stolar, Kantrowitz, Ellen Granberg Organizations: Palestinian, Getty, Palestine, Massachusetts Institute of Technology, MIT, CNBC, George Washington University, American Civil Liberties Union of Indiana, Indiana University, U.S . Department of Education Locations: Los Angeles, United States, Kresge, New York, Gaza

☆ A Remote Island Draws Thousands of Turtles Each Year. Could It Attract Tourists?
▼ + stars: | 2024-04-22 | by ( Ricci Shryock | ) www.nytimes.com time to read: +1 min

Each year, thousands of baby green sea turtles clamber across a beautiful, white-sand paradise that is one of the largest hatching sites of this species in the Atlantic, adorably making their way to the sea. The spectacular hatching events take place between August and December on Poilão Island, a tiny, uninhabited speck off the coast of Guinea-Bissau in West Africa. It is the southernmost island of the 88 that make up the Bijagós archipelago, a UNESCO biosphere reserve. Last year, turtles laid more than 44,000 nests on its 1.4 mile-long beach. “We want to increase the tourists who go to the Bijagós,” he said.

Persons: speck, Alberto Demba Touré, ” Organizations: UNESCO, Atlantic Locations: Poilão, Guinea, Bissau, West Africa

☆ A top-10% fund manager over the last 10 years outlines the growth strategy that's helped him consistently crush his peers — and shares 4 of the best investments to make now
▼ + stars: | 2024-04-21 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Like many others, fund manager Jim Golan has made a fortune from mega-cap growth stocks. For the last 19 years, Golan has logged consistently solid returns as manager of the $2.2 billion William Blair Large Cap Growth Fund (LCGNX). Large, high-quality growth stocks have been in vogue since the early 2010s, though that doesn't explain why Golan's fund has excelled versus its peers. How to invest in large growth stocks — and 4 top picksTo impress Golan, stocks must have scale or other structural advantages that lead to success over his three- to five-year investing horizon. Below are four companies the leading fund manager is especially bullish about, along with the ticker, market capitalization, sector, and thesis for each.

Persons: Jim Golan, Golan, William Blair Large, David Ricci, Morningstar, —, Golan isn't Organizations: Growth, Business, Microsoft, Nvidia

☆ Larry Hogan has raked in $157,000 for giving speeches in the last 2 years — including after he launched his Senate bid
▼ + stars: | 2024-04-15 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Read previewLarry Hogan has made $157,000 from paid speeches since the end of his term as Governor of Maryland, according to financial disclosure documents filed on Sunday. Terry McAuliffe at the Self Storage Association's National Spring Conference — came after he launched his GOP Senate campaign on February 9. This story is available exclusively to Business Insider subscribers. AdvertisementRicci told Business Insider on Monday that Hogan does not plan to give any more paid speeches while campaigning for Maryland's US Senate seat. Related storyIndeed, plenty of figures in both parties have given — and faced scrutiny — for paid speeches in the past, the most famous case being Hillary Clinton.

Persons: —, Larry Hogan, Terry McAuliffe, Spring Conference —, Governor Hogan, Hogan, Michael Ricci, Ricci, Jordan Libowitz, Hillary Clinton, Mike Rogers, Tom Suozzi Organizations: Service, Virginia Gov, Spring Conference, GOP Senate, Business, Maryland's, Citizens, Responsibility, Washington, GOP Michigan, Democratic, American, Casualty Insurance, National, Housing, LG Ad, Business Council of Canada, Republican, Senate, Senate Republicans Locations: Maryland

☆ A new study reveals the states where private equity has the most influence on housing, health care, jobs and pensions
▼ + stars: | 2024-04-09 | by ( Gretchen Morgenson | ) www.cnbc.com time to read: +5 min

Since that ownership change in 2018, involving a hospital chain known as LifePoint Health, care at the health system has declined, three patients say. In recent years, private-equity firms have taken over broad swaths of the nation's economy, extending well beyond health care. The analysis, called the Private Equity State Risk Index, details private equity's involvement in those arenas in all 50 states. The index shows "the private equity threats in our own backyard and gives state leaders the tools to protect the people they serve," said Chris Noble, policy director at Private Equity Stakeholder Project. "By providing transparent data on the risks associated with private equity investments, we empower communities, working families, and policymakers to advocate for change and protect their states from the threats posed by unchecked private equity firms."

Persons: Paul Ricci, Ricci, Conemaugh, Chris Noble Organizations: Broadway Capital, Apollo Global Management, Allegheny Independent Media, NBC, NBC News, MetLife, Equity, Private Equity Locations: Chelsea , Massachusetts, Pennsylvania, Johnstown, Hastings, Meyersdale, United States, Allegheny Region, New York City, Conemaugh, U.S, Arizona, Georgia, New Mexico, West Virginia, Alabama, Massachusetts, Washington, Louisiana, Michigan

☆ Trump says there will be 'bloodbath' if he doesn't get elected in November as he campaigns for GOP's Bernie Moreno in Ohio
▼ + stars: | 2024-03-16 | by ( ) www.cnbc.com time to read: +7 min

Republican presidential candidate former President Donald Trump gestures to the crowd at a campaign rally Saturday, March 16, 2024, in Vandalia, Ohio. Former President Donald Trump claimed that he — not President Joe Biden — will protect Social Security and warned of a "bloodbath" if he loses in November as he campaigned for Senate candidate Bernie Moreno in Ohio. Trump also dismissed recent allegations against Moreno, comparing them to attacks he has faced through the years, including his criminal indictments. "You will not be able to have Social Security with this guy in office because he's destroying the economics of our country. "I made a promise that I will always keep Social Security, Medicare.

Persons: Donald Trump, —, Joe Biden —, Bernie Moreno, Trump, Moreno, Frank LaRose, Sen, Matt Dolan, LaRose, Dolan, Mike DeWine, Rob Portman, Saturday's, isn't, I'm, Marco Rubio, Trump's, He's, Moreno's, Dan Ricci, Biden, Mitt Romney, Ohio Sen, JD Vance, Kristi Noem, Tuesday's, Sherrod Brown, Brown, Jim Renacci Organizations: Social Security, Trump, Tuesday's GOP, Gov, Buckeye Values PAC, Biden, Republican, NBC, Associated Press, Social, CNBC, Cleveland Indians, Cleveland Guardians, Ohio, South Dakota Gov, Senate Locations: Vandalia , Ohio, Ohio, Dayton, America, Washington, Tuesday's, Cleveland

VANDALIA, Ohio (AP) — Former President Donald Trump claimed that he — not President Joe Biden — will protect Social Security and warned of a “bloodbath” if he loses in November as he campaigned for Senate candidate Bernie Moreno in Ohio. Moreno faces Secretary of State Frank LaRose and state Sen. Matt Dolan in Tuesday’s GOP primary. Trump also dismissed recent allegations against Moreno, comparing them to attacks he has faced through the years, including his criminal indictments. “You will not be able to have Social Security with this guy in office because he’s destroying the economics of our country. “I made a promise that I will always keep Social Security, Medicare.

Persons: Donald Trump, —, Joe Biden —, Bernie Moreno, Trump, Moreno, Frank LaRose, Sen, Matt Dolan, LaRose, Dolan, Mike DeWine, Rob Portman, Saturday's, isn’t, I’m, Marco Rubio, Trump’s, ”, “, “ He’s, ” Trump, Moreno’s, Dan Ricci, Biden, Mitt Romney, Ohio Sen, JD Vance, Kristi Noem, Tuesday's, Sherrod Brown, Brown, Jim Renacci, ___ Colvin, Brian Slodysko, ___ Meg Kinnard Organizations: Social Security, Trump, Tuesday’s GOP, Gov, Buckeye Values PAC, Biden, Republican, NBC, Associated Press, Social, CNBC, Cleveland Indians, Cleveland Guardians, Ohio, South Dakota Gov, Senate Locations: VANDALIA , Ohio, Ohio, Dayton, America, Washington, Tuesday’s, Cleveland, New York

☆ Paris Fashion Week: Fashion, feminism and a fake Kate Moss
▼ + stars: | 2024-03-06 | by ( Alice Pfeiffer | ) edition.cnn.com time to read: +15 min

Pascal Le Segretain/Getty ImagesEqually at Rabanne, tartan blazers were given a grungier edge with leather-trimmed sleeves and fasteners. The rise of ‘Les People’Traditionally, showing interest in celebrities (“Les people” in Parisian slang) was a big no-no amongst the proudly snobby French fashion press. For busy women, multitasking women, women who can. Pascal Le Segretain/Getty ImagesStockman-style coats in colored, patent and soft leather were everywhere at Chloé, as were thigh-high boots and wafting, chiffon dresses. Pascal Le Segretain/Getty ImagesTraditional preppy skirt suits were given an edge with "Miss Dior" emblazoned in a graffiti style scrawling.

Persons: Saint Laurent, —, Wim Wenders, “, ” Balmain’s, Ester Manas, Nina Ricci, Kate Moss, Denise Ohnona, Serre, Arnel Dela, Alessandro Vigilante, ”, Coco, Kroes, Pascal Le Segretain, Chemena, Sienna Miller, Gaby Aghion, preppy Kristin Scott Thomas, Miu Miu, Farida Khelfa, Carine, Julia Roitfeld, Victoria Beckham, Anna, Pat Cleveland, Jerry Hall, Georgia Jagger, Kiernan Shipka, Georgia May Jagger, Julien de Rosa, ’ ’, Charles de Vilmorin, Aldama, Loewe, Dior ” —, Jackie O, Salma Hayek, Kim Kardashian, Naomi Campbell, Penelope Cruz, Hari Nef, Emily Ratajkowski, Victor Aubry, Sipa, JM Haedrich, Alexandre Maras, Louise Trotter, Sophie Abriat, Valentino, Givenchy, Laurent, Demna, BFRND, scupltor, Jaanisoo, Rémy Brière, Nicolas Di Felice, Louis Sullivan, Justin Shin, McQueen, Seán, Ib Kamara’s, Nicolas Ghesquière, Louis Vuitton, Stockman, Jonas Gustavsson, Coco Chanel, Casey Cadwallader's, Albert York, Dior, Victor Virgile, Kristin Scott Thomas, Miu, Olivier Rousteing, Ik Aldama, Chloe —, Miller's, Arnold Jerocki, Filippo Fior, Gonzalo Fuentes, Thierry Chesnot, Ester Manas's Organizations: CNN, Paris, Paris CNN —, Eiffel, Saint Laurent Museum, Chloé, Victoria, Getty, Loewe, Dior, Monde, Saint Laurent, The Washington Post Locations: Paris, Trocadero, British, Deauville, Normandy, Mugler, Chloé, Georgia, AFP, Balenciaga, Chanel, Estonian, Courrèges, Dior

☆ How Victoria Beckham fell for Paris
▼ + stars: | 2024-03-04 | by ( Alice Pfeiffer | ) edition.cnn.com time to read: +5 min

Editor’s Note: CNN Style is one of the official media partners of Paris Fashion Week. Paris CNN —Unscathed by the PETA protesters who disrupted her show, Victoria Beckham closed out the fifth day of Paris Fashion Week at the lavish Salomon de Rothschild Hotel on Friday night. At Carven, Louise Trotter, former creative director for Lacoste, presented her first collection for the French heritage house. Off-White creative director Ibrahim Kamara after the presentation of his debut collection for the brand. (British fashion houses including Vivienne Westwood and Paul Smith also relocated to Paris at different stages of their careers.)

Persons: Victoria Beckham, Salomon de Rothschild, Simon Porte Jacquemus, Anna Wintour, Carine Roitfeld, Louise Trotter, Lacoste, Saint Martins, Seán McGirr, Alexander McQueen, Sarah Burton, Ibrahim Kamara, Virgil Abloh’s, Kristy Sparow, Nina Ricci, Harris Reed —, —, ”, … I’ve, Karl Lagerfeld, Yohji Yamamoto, Charles Worth, “, Harris Reed, Victor Virgile, Stella McCartney, Chloé, Lagerfeld, John Galliano, Dior, Phoebe Philo, Kim Jones, Louis Vuitton, Vivienne Westwood, Paul Smith, Serge Carreira, ” Carreira, Yanshan Zhang, Melody Thomas, Parsons Organizations: CNN, Paris, Paris CNN, PETA, French Vogue, Saint, Givenchy, Louis, Dior, Haute Couture, Fashion, Parsons Paris Locations: Paris, French, British, Carven, Central, London, Great Britain, Europe

☆ Nigeria's Access Bank Group CEO Among Six Dead in California Helicopter Crash
▼ + stars: | 2024-02-10 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Six people, including the group chief executive of one of Nigeria's largest lenders, were killed in a helicopter crash in Southern California on Friday, authorities said. Six people were on board the helicopter when it crashed around 10 p.m. near Nipton, California, the U.S. Federal Aviation Administration said in a statement. Access Bank Group CEO Herbert Wigwe's death was confirmed by Ngozi Okonjo-Iweala, director general of the World Trade Organization, in a post on X, along with that of Nigerian Exchange Group's former Chairman Abimbola Ogunbanjo. "Terribly saddened by the news of the terrible loss of Herbert Wigwe, Group CEO Access Bank, his wife and son as well as Bimbo Ogunbanjo in a helicopter crash," Okonjo-Iweala said on X. The helicopter was headed to Las Vegas when it crashed near a border city between Nevada and California, according to multiple reports.

Persons: Herbert Wigwe's, Ngozi Okonjo, Abimbola Ogunbanjo, Herbert Wigwe, Bimbo Ogunbanjo, Iweala, Surbhi Misra, Jyoti Narayan, Andrea Ricci Organizations: Reuters, U.S . Federal Aviation Administration, Access Bank, World Trade Organization, Exchange, San Bernardino County Sheriff’s Department, FAA, Eurocopter EC, National Transportation Safety Board Locations: Southern California, Nipton , California, San Bernardino County, Halloran, Las Vegas, Nevada, California, Bengaluru

☆ Russian Missiles Hit Industrial Target in Central Ukraine -Governor
▼ + stars: | 2024-01-27 | by ( Jan. | At P.M. | ) www.usnews.com time to read: 1 min

(Reuters) -Russian missiles struck an industrial site in the central Ukrainian city of Kremenchuk on Saturday, sparking a fire, the local governor said. Filip Pronin, governor of Poltava region, wrote on the Telegram messaging app that two Russian ballistic missiles had hit the target in the city. Pictures posted online showed emergency crews battling a blaze. Further southeast in Zaporizhzhia region, local governor Yuri Malashko said an infrastructure site had been hit in a drone attack. Emergency crews were at the site, but Malashko gave no details of damage or casualties.

Persons: Filip Pronin, Yuri Malashko, Malashko, Ron Popeski, Maria Starkova, Andrea Ricci Organizations: Reuters Locations: Russian, Ukrainian, Kremenchuk, Poltava, Zaporizhzhia

☆ Ukraine Says It Uncovers Mass Fraud in Weapons Procurement
▼ + stars: | 2024-01-27 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

(Reuters) - Ukraine's SBU security service said on Saturday it had uncovered a corruption scheme in the purchase of arms by the country's military totalling the equivalent of about $40 million. The announcement of mass procurement fraud, confirmed by Ukraine's Defence Ministry, will have a huge resonance in a country beleaguered by Russia's nearly two-year-old invasion. The fight to root out endemic corruption remains a major issue as Ukraine presses its bid to secure membership in the European Union. "According to the investigation, former and current high-ranking officials of the Ministry of Defence and heads of affiliated companies are involved in the embezzlement." Defence Minister Oleksii Reznikov was dismissed last September over various corruption cases despite enjoying a solid reputation in representing Ukraine in its discussions with Western allies.

Persons: Russia's, Oleksii Reznikov, Ron Popeski, Maria Starkova, Andrea Ricci Organizations: Reuters, Ukraine's Defence Ministry, European Union, Ministry of Defence, Lviv Arsenal, . Defence, Western Locations: Ukraine, Ukrainian

After last week’s Golden Globes and Sunday evening’s Critics Choice Awards, Monday sees the third major Hollywood red carpet event in just eight days, as the 75th Primetime Emmy Awards get underway at LA’s Peacock Theater. See below for some of the red carpet’s best looks so far. Frazer Harrison/Getty ImagesKourtney Kardashian and Travis Barker Neilson Barnard/Getty ImagesAyo Edebiri in Louis Vuitton. Neilson Barnard/Getty ImagesAli Wong in Louis Vuitton. Neilson Barnard/Getty Images

Persons: Monday, Rachel Brosnahan, Bella Ramsey, Abbott, Quinta Brunson, Tyler James Williams —, Jenna Ortega Neilson Barnard, Jessica Chastain Richard Shotwell, Aubrey, Jay, Anthony Anderson Gilbert Flores, Sarah Snook Richard Shotwell, Rachel Brosnahan Richard Shotwell, Donald Glover Frazer Harrison, Hannah Waddingham Mike Blake, Simona Tabasco Gilbert Flores, Martin, Selena Gomez, Steve Martin Neilson Barnard, Ariana DeBose Frazer Harrison, Sam Richardson Jordan Strauss, Katherine Heigl Kevin Mazur, Issa Rae, Pamella Roland, Frazer Harrison, Kourtney Kardashian, Travis Barker Neilson Barnard, Louis Vuitton, Neilson Barnard, Ali Wong, Richard Shotwell, Riley Keough, Priscilla Presley Mike Blake, Claire Danes Robyn Beck, Christina Ricci Mike Blake, Giancarlo Esposito Neilson Barnard, Padma Lakshmi, Reuters Niecy Nash, Jeffrey Dahmer, ”, Constantine, Jenna Lyons Frazer Harrison, Joel Kim Booster, Todd Snyder, Gilbert Flores, Dominique Fishback, Miu, Liv Hewson, Joy, Kevin Mazur, Emma Brooks, de Milo Organizations: CNN, Globes, Los Angeles Times, Variety, Getty, New York, Reuters, State Locations: Louis, AFP, New, Aude, “

And the stars appear to be out in force again for the 29th Critics Choice Awards, which this year returns to Santa Monica Airport’s Barker Hangar. “I’m not always playing dark characters.” Michael Tran/AFP/Getty ImagesTracee Ellis Ross in Fendi. Frazer Harrison/Getty ImagesMargot Robbie in custom Balmain. Matt Winkelmeyer/Getty Images“May December” actor Charles Melton wore a red Valentino suit paired with a black skinny tie featuring a V-shaped metallic accent. Frazer Harrison/Getty ImagesTyler James Williams Jordan Strauss/Invision/APVanessa Morgan Michael Tran/AFP/Getty ImagesBrit Marling Matt Winkelmeyer/Getty ImagesTatanka Means Matt Winkelmeyer/Getty Images

Persons: Santa Monica, Barker, Margot Robbie, Bella Ramsey, Pedro Pascal, “ Rustin ”, Colman Domingo, Rosamund Pike Jordan Strauss, Jeremy Allen White Amy Sussman, WireImage, Jennifer Aniston Jordan Strauss, Lily Gladstone Michael Tran, Rustin, Valentino, ”, “ I’m, ” Michael Tran, Tracee Ellis Ross, Jordan Strauss, Pedro Pascal Frazer Harrison, Greta Lee Jordan Strauss, Allison Williams Jordan Strauss, Moorjani Christopher Polk, Moorjani Gilbert Flores, Rachel Brosnahan Alberto Rodriguez, John Krasinski, Emily Blunt Matt Winkelmeyer, Billie Eilish, Thom Browne, Michael Tran, Christina Ricci Frazer Harrison, Kieran Culkin, Martin Katz, Danielle Brooks, Monsoori, Frazer Harrison, Matt Winkelmeyer, Charles Melton, Chelsea Handler, Alex Perry, Quinta Brunson Frazer Harrison, Dominic Sessa Jordan Strauss, Singer Dua Lipa, Tyler James Williams Jordan Strauss, Vanessa Morgan Michael Tran Organizations: CNN, Globes, Hollywood, Santa, Golden Globes, Getty, Variety, Singer Dua, Tiffany Locations: AFP, Fendi, Balmain

Since June, the quarterly "dot plot" of policymakers' projections of the appropriate path of policy has shown rates rising another quarter point this year. Investors will be eager for the boost a rate cut would give to markets, and consumers will be relieved by lower mortgage and credit rates. Indeed, in remarks last week Fed Chair Jerome Powell noted that over the last six months inflation had averaged around 2.5%. Investors, meanwhile, have become increasingly fixed on March as a starting point for rate cuts. Between falling inflation and a modest slowdown in growth, Powell said: "We are getting what we wanted to get."

Persons: Vincent Reinhart, Dreyfus, Reinhart, Donald Trump, Michael Gapen, Gapen, Jerome Powell, Powell, Christopher Waller, Howard Schneider, Andrea Ricci Organizations: . Federal Reserve, Mellon, WE, Republican, Bank of America, Fed, Spelman College, Thomson Locations: U.S, Atlanta

Periods of high inflation would offset those when inflation was low as occurred between the financial crisis and the pandemic. Those concerns may not matter anymore if the pandemic has driven inflation and interest rates chronically higher. Speaking at a Boston Fed labor market conference in November, Kohn said the new framework showed the risks of not keeping inflation at bay to begin with. "Probing" for maximum employment "can't ignore...inflation risks," Kohn said, calling for a return to a strategy disavowed in the last review. "I think preemptive tightening is best-practice central banking, and I hope they return to allowing that."

Persons: Joshua Roberts, Jerome Powell, There's, Miesha Williams, Powell, Charles Evans, Evans, Fed, Loretta Mester, Austan Goolsbee, Goolsbee, Donald Kohn, Kohn, Howard Schneider, Dan Burns, Andrea Ricci Organizations: Federal Reserve, REUTERS, Rights, U.S, Federal, Spelman College, Reuters, Chicago Fed, Chicago, Cleveland Fed, Boston Fed, Thomson Locations: Washington , U.S, Atlanta

Fresh data shows price pressures are easing and the labor market is gradually cooling, evidence that the slowdown the Fed has tried to engineer with its rate hikes to date is underway. Still, the unemployment rate at last read was 3.9%, only a few tenths of a percentage point above where it was when the Fed first began raising rates in March 2022. UNCERTAIN PATHTraders have been betting heavily that the Fed will keep its overnight benchmark interest rate steady in the 5.25%-5.50% range for the next several months. "I'm not losing too much sleep" over the market's view "because there's a lot of uncertainty about the future path of policy," Williams said. "I'm not thinking about rate cuts at all right now," Daly said.

Persons: John Williams, Williams, Janet Yellen, I'm, Mary Daly, Daly, Jerome Powell, Christopher Waller, Oscar Munoz, Dan Burns, Michael S, Howard Schneider, David Lawder, Chizu Nomiyama, Paul Simao, Andrea Ricci, Will Dunham Organizations: Federal Reserve, New York Fed Bank, Fed, U.S, Treasury, PATH Traders, San Francisco Fed, Spelman College, Derby, Thomson Locations: U.S, New, Atlanta

☆ US consumer spending slows; labor market steadily easing
▼ + stars: | 2023-11-30 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Those hopes were reinforced by other data on Thursday showing the labor market gradually easing. Though wages remain elevated, the pace of increase has slowed from earlier in the year as the labor market eases. Personal consumptionINFLATION COOLINGInflation as measured by the personal consumption expenditures (PCE) price index was unchanged in October after rising 0.4% in September. Stripping out housing, the core PCE price index edged up 0.1% after gaining 0.3% in September. Still, the labor market is cooling in tandem with overall demand in the economy.

Persons: Sarah Silbiger, Jerome, Powell, Conrad DeQuadros, Nancy Vanden Houten, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: El Progreso Market, Washington , D.C, REUTERS, Brean, Commerce Department's, United Auto Workers, Treasury, Fed, Labor Department, Oxford Economics, Thomson Locations: Mount Pleasant, Washington ,, New York, outlays, U.S

Rates futures markets are showing cuts being priced as early as May 2024, according to LSEG data. The prospects for rate cuts received a boost on Tuesday after Fed Governor Christopher Waller, deemed a hawk, hinted at lower interest rates in the months ahead if inflation continued to ease. Deutsche Bank economists on Monday projected 175 basis points in Fed rate cuts in 2024, but said that those cuts would come with a mild recession in the first half of next year. “Absent rapid Fed easing, we expect a more challenging macro backdrop for stocks next year,” they wrote in a Wednesday report. Others said investors may be overestimating how quickly the Fed might react to signs of slowing inflation.

Persons: Carlo Allegri, Jack Ablin, ” Ablin, Christopher Waller, ”, Jake Schurmeier, Schurmeier, Thomas Barkin, Charlie McElligott, Michael Green, David Randall, Lewis Krauskopf, Saqib Iqbal Ahmed, Ira Iosebashvili, Andrea Ricci Organizations: REUTERS, Federal Reserve, Treasury, Cresset, Gross, Harbor, Reuters, Richmond Fed, Nomura Securities, Deutsche Bank, JPMorgan, Management, Thomson Locations: Manhattan, New York City , New York, U.S, stoke, Carolina, New York

☆ US third-quarter growth revised higher; corporate profits rise strongly
▼ + stars: | 2023-11-29 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The quickest growth pace in nearly two years reported by the Commerce Department on Wednesday, however, likely exaggerated the health of the economy last quarter. Economists polled by Reuters had expected GDP growth would be revised up to a 5.0% rate. The upward revision to growth last quarter reflected upgrades to business investment on structures, mostly warehouses and healthcare facilities. Inventory investment added 1.40 percentage points to GDP growth. Profits rose at a 0.8% rate in the second quarter.

Persons: Elizabeth Frantz, Christopher Rupkey, There's, Gregory Daco, Jeffrey Roach, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: REUTERS, WASHINGTON, Commerce Department, Gross, Commerce Department's, Reuters, Federal, United Auto Workers, Treasury, Federal Reserve, Fed, LPL Financial, Thomson Locations: Arlington , Virginia, U.S, New York, EY, Charlotte , North Carolina

☆ US economy grows 5.2% in third quarter; higher interest rates eroding momentum
▼ + stars: | 2023-11-29 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The growth pace, which was the quickest in nearly two years, however, likely exaggerated the health of the economy last quarter. Economists polled by Reuters had expected GDP growth would be revised up to a 5.0% rate. Inventory investment added 1.40 percentage points to GDP growth, instead of the 1.32 percentage points estimated last month. Higher wages contributed to the economy growing at a 1.5% rate last quarter, the fastest in a year, when measured from the income side. That suggested trade could be a drag on GDP growth this quarter after being a neutral factor in the April-June period.

Persons: Elizabeth Frantz, Christopher Rupkey, There's, Conrad DeQuadros, Jeffrey Roach, Lucia Mutikani, Chizu Nomiyama, Paul Simao, Andrea Ricci Organizations: REUTERS, Commerce Department, Gross, Commerce Department's, Analysis, Reuters, Federal, United Auto Workers, Treasury, Brean, BEA, Fed, LPL Financial, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, New York, Charlotte , North Carolina

☆ Discounts drew crowds but Black Friday week sales gain softest in years -report
▼ + stars: | 2023-11-28 | by ( Amina Niasse | ) www.reuters.com time to read: +3 min

People shop at the Shops at the Oculus and Westfield Shops during Black Friday shopping in New York City, U.S., November 24, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Nov 28 (Reuters) - U.S. in-store retail sales swelled last week by the most since December courtesy of aggressive discounts, but the year-over-year sales gain for the week covering the traditional Black Friday shopping season kick-off was the smallest in six years. Sales volumes increased for retailers during the Black Friday weekend where cost-aware consumers sought out larger discounts on expensive purchases, according to the report. Buyers are experiencing the cheapest holiday shopping season in years with toys, games, and hobby gear dipping in price for the first time since 2020. Reuters GraphicsDespite the sales gain, the increase is the smallest Black Friday-week gain since 2017's 4.8% year-over-year increase.

Persons: Brendan McDermid, Buyers, ”, Steve Sadove, Amina Niasse, Andrea Ricci Organizations: Westfield Shops, REUTERS, Research, Sporting, Bureau of Labor Statistics, Mastercard, “, Thomson Locations: New York City, U.S

"Inflation rates are moving along pretty much like I thought," Fed Governor Christopher Waller, a hawkish and influential voice at the central bank, told the American Enterprise Institute think tank on Tuesday. If the decline in inflation continues "for several more months ... three months, four months, five months ... we could start lowering the policy rate just because inflation is lower," he said. Additional Fed rate increases remain a possibility if upcoming data includes an unexpected resurgence of price pressures, he said. But even Bowman, who like Waller is among the Fed's most hawkish officials, stopped short of outright calling for a further increase in the policy rate. New inflation data will be released on Thursday, and policymakers will also have a fresh monthly jobs report and other data in hand before they gather next month.

Persons: Christopher Waller, Bond, Waller's, Jerome Powell, Michelle Bowman, Bowman, Waller, Austan Goolsbee, Howard Schneider, Ann Saphir, Lindsay Dunsmuir, Andrea Ricci, Paul Simao Organizations: Federal Reserve, American Enterprise Institute, Fed, Spelman College, Utah Bankers Association, Chicago Fed, Conference Board, Thomson Locations: U.S, Atlanta, Salt Lake City

☆ Fed may need four years to recoup income loss, St. Louis Fed study says
▼ + stars: | 2023-11-27 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

The pincer movement of these two policy actions drove the Fed to start losing money in September 2022. The central bank captures the net negative income situation in an accounting measure called a deferred asset, which as of Nov. 22 stood at $120.4 billion. As the Fed sees it, the deferred asset is what must be covered before the central bank can again return excess earnings to the Treasury. The Fed has repeatedly stressed that losing money in no way impacts its ability to operate and conduct monetary policy. The research from the St. Louis Fed estimates it will cover the deferred asset by mid-2027.

Persons: Louis, Joseph Wang, Michael S, Andrea Ricci Organizations: Federal, U.S . Treasury, Federal Reserve Bank of St, Fed, Treasury, Louis Fed, Treasury Department, Reuters, New York Fed, Thomson

☆ Mexico Presidency Race Narrows Slightly, Sheinbaum Still Way Ahead -Poll
▼ + stars: | 2023-11-27 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

MEXICO CITY (Reuters) - The race to become Mexico's next president has closed slightly, but former Mexico City mayor and ruling party candidate Claudia Sheinbaum still has double the support of her main opposition rival, an opinion poll showed on Monday. Samuel Garcia, who is competing for the candidacy of another center-left party, Citizens Movement (MC), polled 8% support. A poll published in early October had given Sheinbaum 50% support versus 20% for Galvez, although that survey included a fourth, right-wing candidate who did not feature this time. "With the entry of Samuel Garcia as sole MC contender, the presidential ballot has been practically set in stone," Buendia & Marquez head Jorge Buendia wrote in El Universal. Separately, an analysis of several polls by research firm Consulta Mitofsky which stripped out undecided voters and those not backing any candidate showed Sheinbaum with 62.7% of effective support.

Persons: Mexico's, Claudia Sheinbaum, pollster Buendia, Marquez, Xochitl Galvez, Galvez, Samuel Garcia, Sheinbaum, Andres Manuel Lopez Obrador, Buendia, Jorge Buendia, Garcia, Raul Cortes, Sarah Morland, Dave Graham, Andrea Ricci Organizations: MEXICO CITY, Mexico City, El Universal, Sheinbaum, Regeneration, Citizens Movement Locations: MEXICO, Mexico

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