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☆ Huawei: US revokes some export licenses for selling semiconductors to Chinese company
▼ + stars: | 2024-05-08 | by ( ) edition.cnn.com time to read: +4 min

A fourth person said some of the companies were notified on Tuesday that their licenses were revoked effective immediately. The U.S. Commerce Department earlier in the day confirmed it had revoked some licenses but stopped short of naming the companies. “We have revoked certain licenses for exports to Huawei,” the Commerce Department said in a statement, declining to specify which ones it had withdrawn. The move could hurt Huawei, which still relies on Intel chips to power its laptops, and could hurt US suppliers that do business with the company. In a regulatory filing earlier this month, Qualcomm said it did not expect to receive more chip revenue from Huawei beyond this year.

Persons: Biden, Elise Stefanik, Trump, Critics, SMIC Organizations: Singapore Reuters, Intel, Qualcomm, Huawei Technologies, U.S . Commerce Department, Huawei, Republican, Commerce Department, “, Reuters, US Locations: Washington, Singapore, United States, Republican China, American, Communist, Qualcomm’s

☆ John Leguizamo on His Best Movie Roles: 'Carlito's Way,' 'Encanto'
▼ + stars: | 2024-05-07 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +11 min

Before John Leguizamo was an acclaimed writer, director, and film star, he was a young Latino actor just trying to get into audition rooms. On turning down 'Carlito's Way' multiple times and becoming a leading man(L-R) Al Pacino and John Leguizamo in "Carlito's Way." UniversalYou've spoken before about turning down "Carlito's Way" a few times before you eventually made the call to sign on. John Leguizamo as Luigi in "Super Mario Bros." (1993) Warner BrosOn doing too many 'ice movies' and feeling dissed by 'Mr. On 'Sigma male' Bruno and getting a bonus for 'Encanto'Maribel and Bruno (voiced by John Leguizamo) in "Encanto."

Persons: John Leguizamo, Leguizamo, Brando, James Dean, Shakespeare, William Goldman, Benny Blanco, Luigi, Mario, he's, He's, Al Pacino, I've, Benicio, Annabel Jankel, Rocky Morton, Mr, Smith, you've, Wears, Stanley Tucci, Robin Williams, Vince Vaughn, Sid, Sloth, Fox, —, Mike Berg, Peter Ackerman, Chris Wedge, Philip Seymour Hoffman, Ben Stiller, Ray Romano, Denis Leary, Michael Keaton, would've, hadn't, Bruno, Coco, that's, Lin, Manuel Miranda, Spike Lee, Sam, Mel Blanc, I'd Organizations: Broadway, New York Daily News, Warner Bros, Marvel, Sigma, Walt Disney Animation, Disney, Cannes, HBO Locations: Jackson Heights , Queens, Toro, Puerto Rican

☆ For American Jews, Biden’s Speech on Antisemitism Offers Recognition and Healing
▼ + stars: | 2024-05-07 | by ( Jennifer Medina | Nicholas Nehamas | ) www.nytimes.com time to read: +1 min

President Biden, standing in front of six candles symbolizing the six million Jews killed during the Holocaust, delivered on Tuesday the strongest condemnation of antisemitism by any sitting American president. For Jews monitoring a spike in hate crimes and instances of antisemitic rhetoric amid pro-Palestinian protests on college campuses, Mr. Biden’s speech at a Holocaust remembrance ceremony at the Capitol was both fiercely necessary and fiercely appreciated. The Anti-Defamation League, which has been tracking antisemitic incidents since the 1970s, says the number of such episodes has reached all-time highs in four of the last five years. “In an unprecedented moment of rising antisemitism, he gave a speech that no modern president has needed to,” said Jonathan Greenblatt, the chief executive of the Anti-Defamation League. “There has not been a moment like this since before the founding of the state of Israel.

Persons: Biden, ”, Jonathan Greenblatt Organizations: Capitol, Defamation League, Defamation Locations: Israel

☆ A bearish options trade on Apple that wins if the buyback enthusiasm fades
▼ + stars: | 2024-05-07 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

Apple surged on Friday following Tim Cook's announcement of the largest stock buyback in stock market history. I'm aiming for a post-earnings "gap fill" trade on AAPL . Despite my long-term bullish outlook on AAPL, I'm considering a short-term bearish trade to fade this post-earnings spike. If AAPL starts against me, I would want to close the trade if I lose 50% of my investment (i.e., $125). BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: Apple, Tim Cook's, AAPL, Nishant Pant

☆ '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

☆ Warren Buffett says one question posed by AI has stumped economists for a century
▼ + stars: | 2024-05-07 | by ( Michelle Castillo | ) www.cnbc.com time to read: +8 min

Calling AI profound, Buffet said that the technology is like a "genie" — once it gets let out of the bottle, it could have disastrous effects. It's a question, he said, that has riddled the best economists for a century. Warren Buffett is the first to admit he doesn't know much about artificial intelligence. This rebound has led to questions from corporate executives about factors that could be at play, from AI to return-to-office mandates. "Every company is looking at AI and deciding where it will help them," he said during a recent interview on CNBC's "Money Movers."

Persons: Buffett, Buffet, Warren Buffett, it's, couldn't, John Maynard Keynes, Keynes, Gary Cohn, Cohn, Dev Ittycheria, Elon Musk, Mark Zuckerberg, Sam Altman, Robert Solow, Berkshire Hathaway Organizations: Apple, Berkshire Hathaway, Berkshire, IBM, National Economic, CNBC, Nvidia, McKinsey, Harvard Business Locations: Omaha, Berkshire

☆ Australia’s Qantas to pay $79 million to settle ‘ghost flights’ case
▼ + stars: | 2024-05-06 | by ( ) edition.cnn.com time to read: +2 min

Sydney — Qantas Airways has agreed to pay 120 million Australian dollars ($79 million) to settle a lawsuit over the sale of thousands of tickets on already canceled flights, in an attempt to end a reputational crisis that has engulfed the airline. The fine is the biggest ever for an Australian airline and among the largest globally in the sector, although some Australian banks and casino operators have faced higher penalties. “We recognize Qantas let down customers and fell short of our own standards,” CEO Vanessa Hudson said in a statement. It had said the airline sometimes sold tickets to flights weeks after they were canceled. The ACCC’s Cass-Gottlieb noted that the settlement included a promise from Qantas not to repeat the conduct.

Persons: Vanessa Hudson, ”, Hudson’s, Alan Joyce, Hudson, Gina Cass, Gottlieb, ACCC’s Cass Organizations: Sydney, Qantas Airways, Qantas, Australian Competition, Consumer Commission, Federal Court, ACCC Locations: Hudson

☆ Russia saw its oil revenue double in April despite Western sanctions
▼ + stars: | 2024-05-06 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Russia's oil revenue soared by 90% in April compared to the previous year, Bloomberg reported. The rise comes as sanctions have struggled to curb Russian energy flows since the war in Ukraine began. AdvertisementThe major funding sources for Vladimir Putin's invasion of Ukraine — the country's oil and gas revenues —doubled in April despite sanctions. Bloomberg data also indicates Moscow will see approximately $126 billion in oil and gas tax revenue in 2024. That said, Bloomberg reported that April's oil and gas revenue to Russia's budget still dropped by about 6.4% compared to March, primarily due to substantial subsidies to the nation's fuel producers.

Persons: —, Vladimir Putin's, Bloomberg Organizations: Bloomberg, Service, Russia's Federal Tax Service, Bloomberg Economics Locations: Ukraine, Russia's, Russia, Moscow, China, India, Persian

☆ 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

☆ AI could drive a natural gas boom as power companies face surging electricity demand
▼ + stars: | 2024-05-05 | by ( Spencer Kimball | ) www.cnbc.com time to read: +10 min

AI data centers alone are expected to add about 323 terawatt hours of electricity demand in the U.S. by 2030, according to Wells Fargo. The forecast power demand from AI alone is seven times greater than New York City's current annual electricity consumption of 48 terawatt hours. The natural gas industry is betting gas will serve as the preferred choice. Coal plant retirements and data centers could result in 6 bcf/d of new natural gas demand in EQT's backyard by 2030, the CEO said. The level of electricity demand could help lift natural gas prices out of the doldrums.

Persons: Kena, Goldman Sachs, Robert, Richard Kinder, Kinder Morgan, Kinder, Roger Read, Wells, Goldman, Toby Rice, Rice, CNBC's, Christopher Womack, Robert Blue, EQT, Jeremy Knop, Knop, Blue, Read, Lynn, Zack Van Everen, Robert Kinder Organizations: Linden, View Press, Getty, Amazon, Google, Microsoft, Meta, Rystad Energy, Robert Blue Dominion Energy, Gas, Holt, Co, EQT Corp, U.S ., Dominion Energy, Georgia Power, Southern Company, Dominion, Renewables, CNBC, Lynn Good, Energy Locations: Linden New Jersey, U.S, Wells, Wells Fargo, New York, Houston, Pickering, Northern Virginia, Georgia, Appalachian, Virginia, Gulf

☆ Opinion: The latest example of Trump’s seeming obsession with Nazism
▼ + stars: | 2024-05-05 | by ( Opinion Dean Obeidallah | ) edition.cnn.com time to read: +6 min

Dean Obeidallah CNNIt’s not the first time Trump has kicked off an event by playing this song that celebrates the January 6, 2021, attackers. But that wasn’t even the most offensive thing Trump did at Saturday’s private luncheon for donors, which was held at his Mar-a-Lago club. It was Trump, after all, who has said that he would be a dictator on “day one” of his administration. And the fact is, there is one major party presidential candidate who repeatedly has invoked Nazi language — and it’s not Biden. In December, Trump caused a firestorm when he parroted language used by Hitler by describing migrants as “poisoning the blood” of the United States.

Persons: Dean Obeidallah, Donald Trump, ”, Dean Obeidallah CNN It’s, Trump, —, Joe Biden, indignantly, Prosecutors, Stormy Daniels, Adolf Hitler, it’s, Biden, Hitler, Mein, Trump hasn’t, “, ’ ” Trump, Hermann Göring, Lara Trump Organizations: CNN, Republican National, Trump, Dean Obeidallah CNN, Nazi, Republican National Committee, Gestapo, Republican, Beer, Twitter, Facebook, GOP, RNC Locations: Europe, New York, United States, Iowa, Bavaria, Germany

☆ A 26-year-old stock trader who made over $10.5 million in 4 years shares the strategy adjustment he made in 2024 that has allowed him to remain profitable
▼ + stars: | 2024-05-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

In 2017, at 19 years old, Jack Kellogg became interested in stock trading. AdvertisementIn 2023, he took advantage of the AI hype by trading stocks within that theme. He then reviews these stocks' price movements over the previous three to two weeks. Where it's set depends on how much he's willing to risk on each position and varies based on the stock's price movements. While he's agnostic about the stock's cap size, he favors swing trading mid and sometimes small-cap stocks.

Persons: Jack Kellogg, Timothy Sykes, Kellogg, Kellogg wasn't Organizations: Business, BI, Trust, Nvidia, CXApp Inc

☆ High mortgage rates didn't put a lid on home prices, but soaring insurance costs might, real estate experts say
▼ + stars: | 2024-05-04 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +5 min

While high mortgage rates didn't bring prices down, steep insurance costs could put a lid on further appreciation. But there's an under-the-radar factor that could soon pull down home prices nationally, real estate experts told Business Insider — soaring home insurance costs. AdvertisementThe insurance costs usually come as a surprise to home buyers in those areas, Fairweather added. To Fairweather, it's more precise to say the rising insurance will make home values grow more slowly than they would have, as the robust demand still characterizes the current market. We take into account prices and mortgage rates and now rising insurance costs, but there's still people wanting to buy homes," she said.

Persons: —, Zillow, FRED, Daryl Fairweather, Fairweather, Danielle Hale, Hale, Jesse Keenan, Keenan, it's, homeownership, there's Organizations: Service, Business, Tulane University Locations: Florida, Texas, West, Louisiana

☆ Buffett's Berkshire Hathaway trouncing the market this year and near a record heading into shareholder meeting
▼ + stars: | 2024-05-03 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Berkshire Hathaway shares are near all-time highs ahead of the conglomerate's annual shareholder meeting, but a few worries are weighing on analysts' minds. BRK.B ALL mountain Berkshire Hathaway Class B shares But that doesn't mean the stock is without its problems. Berkshire Hathaway Energy Berkshire Hathaway has been contending with several high-profile lawsuits in recent months, including the settlement this year of a billion-dollar lawsuit with the Haslam family over how Berkshire valued Pilot Travel Centers, a truck-stop giant. Her 12-month price target of $472 implies Berkshire shares can climb roughly 18% from Thursday's closing price of $400.60 per share. "I think that the future is very bright for Berkshire Hathaway," Shanahan said.

Persons: Berkshire Hathaway, Cathy Seifert, Berkshire Hathaway Energy Berkshire Hathaway, Haslam, PacifiCorp, Warren Buffett's Berkshire Hathaway, Buffett, Edward Jones, James Shanahan, CFRA's Seifert, Seifert, Shanahan, Bull Organizations: Berkshire, Berkshire Hathaway, CFRA Research, Berkshire Hathaway Energy Berkshire, Travel Centers, Berkshire Hathaway Energy, Federal Reserve, CNBC Locations: Berkshire, Oregon, Northern California, Warren, Woodstock, Omaha , Nebraska

☆ Yen gives up ground vs dollar following surge on suspected intervention
▼ + stars: | 2024-05-02 | by ( ) www.cnbc.com time to read: +3 min

An attendant holds a sample of newly-designed Japanese 10,000 yen banknote, with three-dimensional holographic technology to prevent forgery, for a photograph at the National Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 28, 2023. The yen gave up ground in early trade on Thursday, reversing direction after a sudden surge against the dollar overnight that traders and analysts were quick to attribute to intervention by Japanese authorities. The dollar was 0.9% higher at 155.98 yen as of 0100 GMT, retracing about half of its late Wednesday surge from around 157.55 to exactly 153 over a period of about 30 minutes. "The 'sneak attack' element really is the MOF (Japan's Ministry of Finance) looking to punish speculators and send a warning about shorting the yen." That helped lift the dollar to a 34-year peak of 160.245 yen on Monday and also spurred a sharp reversal which official data suggested was due to Japanese intervention totalling about $35 billion.

Persons: Jerome Powell, Masato Kanda, Kyle Rodda, Sterling, Powell, Jack Mclntyre Organizations: National Printing Bureau, Federal Reserve, Reuters, Capital.com, Japan's Ministry of Finance, Bank of Japan, Brandywine Locations: National Printing Bureau Tokyo, Tokyo, Japan, U.S, Melbourne

☆ CVS posts big earnings miss, cuts profit outlook on higher medical costs
▼ + stars: | 2024-05-01 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

CVS Health on Wednesday reported first-quarter revenue and adjusted earnings that missed expectations and slashed its full-year profit outlook, citing higher medical costs that are dogging the U.S. insurance industry. The drugstore chain expects 2024 adjusted earnings of at least $7 per share, down from a previous guidance of at least $8.30 per share. The company said its new outlook assumes that higher medical costs in its insurance business during the first quarter will persist throughout the year. Medicare Advantage, a privately run health insurance plan contracted by Medicare, has long been a key source of growth and profits for the insurance industry. Excluding certain items, such as amortization of intangible assets and capital losses, adjusted earnings per share were $1.31 for the quarter.

Persons: LSEG, Karen Lynch, Caremark, Tyson Foods, CVS's Caremark, Cuban's Organizations: CVS Health, CVS, Aetna, UnitedHealth, Medicare, LSEG, Blue, Amazon Pharmacy, Oak Street Health Locations: California

☆ Qualcomm shares spike on earnings and revenue beat
▼ + stars: | 2024-05-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQualcomm shares spike on earnings and revenue beatDavid Zervos, Jefferies chief market strategist, and Victoria Greene, G Squared Private Wealth CIO, join 'Closing Bell Overtime' to talk Qualcomm quarterly results.

Persons: David Zervos, Victoria Greene Organizations: Qualcomm, Jefferies, Private Wealth

☆ Supreme Court rejected military chaplains' lawsuit saying their careers were ruined after refusing the COVID-19 vaccine
▼ + stars: | 2024-05-01 | by ( Patricia Kime | ) www.businessinsider.com time to read: +5 min

The Supreme Court denied military chaplains' lawsuit claiming retaliation for refusing the COVID-19 vaccine. The appellate court ruled that the Defense Department's decision in January 2023 to rescind the vaccine mandate rendered the chaplains' case moot. The Defense Department was later ordered to pay $1.8 million in legal fees as settlement for two lawsuits over the mandate. An aeromedical technician fills a syringe with the COVID-19 vaccine at the Pittsburgh International Airport Air Reserve Station in Pennsylvania. US Air Force photo by Joshua J. SeybertThe Defense Department began requiring service members to get the COVID-19 vaccine in August 2021.

Persons: —, recrimination, Mauricio Campino, Israel Alvarado, Joshua J, Johnson Organizations: Defense Department, Service, Appeals, Fourth Circuit, Defense, Airmen, Dover Air Force Base, US Air Force, Austin, Pentagon, Navy, Fifth Circuit, US, The Defense Department, Pittsburgh International Airport Air Reserve, Moderna, Pfizer, Johnson, Air Force, Space Force Locations: Delaware, Israel Alvarado et, Pennsylvania, COVID, China

☆ These are the stocks with the most to gain or lose from the Fed decision
▼ + stars: | 2024-05-01 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The 10-year Treasury yield at one point in April neared 4.75% after starting the year below 4%. The anecdote, coupled with troubling inflation and economic growth data in April, helped push Treasury yields higher. More worrisome Powell commentary Wednesday after the Fed decision could further spike Treasury yields — or perhaps, he will sound confident the Fed still has a handle on inflation and rates will decline in response. However, that climb could run out of steam if Federal Reserve comments on Wednesday force Treasury yields higher. Higher interest rates constrain technology companies' ability to post the type of strong growth the sector has become synonymous with in recent years.

Persons: Stocks, Jerome Powell, worrisome Powell, Goldman Sachs Organizations: Federal, Tesla, Micro, Treasury

☆ Carvana shares spike 30% as used car retailer posts record first quarter
▼ + stars: | 2024-05-01 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Vehicles are seen on display at a Carvana dealership in Austin, Texas, on Feb. 20, 2023. Shares of Carvana popped more than 30% during after-hours trading Wednesday after the automaker reported record quarterly results and turned a profit during the first quarter. It also posted an all-time-best adjusted earnings before interest, taxes, depreciation and amortization of $235 million, up from a $24 million loss a year earlier. Carvana's adjusted profit margin for the quarter was 7.7%. They had climbed roughly 67% so far this year before the company reported its first-quarter results.

Persons: Carvana, Ernie Garcia III, Garcia, Mark Jenkins Organizations: Wednesday Locations: Austin , Texas

☆ Affordable internet gave Native Americans a way to preserve community and culture. Now it’s another broken promise
▼ + stars: | 2024-05-01 | by ( Brian Fung | ) edition.cnn.com time to read: +12 min

Within weeks, the two-year-old US Affordable Connectivity Program (ACP) is set to run out of funds, and Congress appears unlikely to authorize more. Even as many older and rural Americans may be thrust into financial hardship due to the ACP’s collapse, indigenous communities could fare even worse. Because tribal members can now work remotely, they are no longer forced to move away from their communities to seek opportunity, they told CNN. For example, Mitchell said, after decades of decline in Mohawk fluency, a growing number of tribal members are now involved in online language immersion. (AP Photo/Seth Wenig) Seth Wenig/AP/FileInstead, some say, the collapse of the ACP will become another stain on the US government’s centuries-long track record of breaking promises to tribal communities.

Persons: Kelly, ”, “, “ That’s, ” Kelly, Mike Johnson, Pennsylvania Democratic Sen, John Fetterman, Fetterman’s, Jonathan Nez, “ I’ve, Loren King, Geoffrey Starks, ” Starks, Allyson Mitchell, Mitchell, Nez, ” Nez, Derrick VanSoolen’s, Choctaw, ” VanSoolen, they’re, Bois, Randy Long, Gary Johnson, Paul, Seth Wenig, I’ll Organizations: Washington CNN, Mohawk, CNN, Connectivity Program, FCC, Pennsylvania Democratic, Federal Communications Commission, Treasury, US Federal Communications Commission, Mohawk Networks, Navajo, ACP, Emergency, Program, Choctaw Nation, Bois Forte, Paul Bunyan Communications Locations: St, Lawrence, New York, Canadian, Mohawk, America, Navajo, Oklahoma, Oklahoma , Arizona, New Mexico, Alaska, South Dakota, Arizona, Minnesota, Regis

☆ Some millennial and Gen X parents are leaving it all behind to spend 6 figures on a family gap year. Here's how they budget and 'worldschool' their kids.
▼ + stars: | 2024-05-01 | by ( Hillary Hoffower | ) www.businessinsider.com time to read: +11 min

Some white-collar parents are leaving their jobs to take family gap years. It's sticking around as the world somewhat normalizes; Reddit is littered with threads looking for family gap year advice, which posters can easily find in various blogs. She now offers a family gap year and extended travel planning service for $80 to $100 an hour. "It could expand into a big business," she said, adding that her family gap year clients typically have disposable income and kids around 8 to 11 years old. AdvertisementWorld lessons, no classroom requiredNo family gap year is complete without immersive travel.

Persons: —, Claire Williams, Matt, they'd, Claire, It's, Jennifer Spatz, itineraries, Amy Chang, Chang, Allen, they've, Spatz, Marisa Vitale, it's, She's, hadn't, what's Organizations: Service, Area, Federal, Global, United Nations Sustainable Locations: Sri Lanka, Sahara, worldschooling, COVID, Massachusetts, Asia, Europe, Venice, Italy, Airbnbs, Greece, Nepal, Sydney, Australia, Santiago, Chile, Spanish, Guatemala, Vietnam, Argentine, Jordan, Patagonia, Los Angeles, California, Salt Lake City, U.S

☆ Ron Insana: The 2024 inflation scare has arrived, but there are still signs of hope for investors
▼ + stars: | 2024-04-30 | by ( Ron Insana | ) www.cnbc.com time to read: +3 min

Elizabeth Frantz | ReutersIt appears the great inflation scare of 2024 is upon us. The Fed's preferred measure of inflation, the core personal consumption expenditures price index, grew 2.8% from a year earlier in March. The recent inflation numbers have reduced the expected number of cuts down to one or two, with the first cut anticipated to arrive much later this year. Some recent signs of cooling emergeCommodity prices, like cocoa , coffee and copper , have been on a tear in 2024. Despite all the military activity in the Middle East, oil prices have been reasonably well behaved, taking into consideration the energy shocks of years past.

Persons: Jerome Powell, Elizabeth Frantz, –, specter Organizations: Federal, Committee, Reuters, Fed, Hamas Locations: Washington , U.S, Israel

☆ Covid caused a ‘massive spike’ in yacht sales — now some of those boats are back on the market
▼ + stars: | 2024-04-30 | by ( Monica Pitrelli | Poonam Binayak | ) www.cnbc.com time to read: +3 min

The pandemic spurred a "massive spike" in yacht sales, said Richard Allen, chief operating officer of the Hong Kong-based yachting company Simpson Marine. "We've seen a lot of those people, that had their boats for two years, sort of now wanting to travel," he told CNBC. Prices in the pre-owned marketEnthusiasm for yachting remains high, even if sales have fallen since 2021, said Casani. Casani and Allen, who spoke to CNBC on April 26 while attending the second annual Singapore Yachting Festival, agreed that the continent's yachting market is growing. "We need to do a lot of lobbying with governments to make it easier to import boats," said Allen.

Persons: Richard Allen, we've, Paolo Casani, Allen —, Allen, Casani Organizations: Simpson, CNBC, Singapore Yachting Festival, International Council of Marine Industry Associations Locations: Hong Kong, Monaco, Asia, Singapore, Indonesia, Philippines, Vietnam

☆ Good news: The worst could be over for gas prices this spring
▼ + stars: | 2024-04-30 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

US gas prices have stopped rising and even briefly dipped in recent days. Now, there is growing hope that gas prices are at or near a peak for the spring – or perhaps even for the year. ‘Could have been much worse’Of course, none of this is to say gas prices are cheap. A spike in gas prices would be the last thing President Joe Biden needs as he struggles to convince voters of his economic message before November. Why gas prices have cooledThere are multiple reasons why gas prices have stopped rising for the moment.

Persons: Patrick De Haan, “ I’m, ” De Haan, Tom Kloza, ”, Andy Lipow, “, De Haan, Joe Biden, Lipow, ” Lipow, Kloza Organizations: New, New York CNN, OPEC, AAA, CNN, “, Oil Price Information Service, Lipow Oil Associates, Drivers, Federal Reserve, Biden, US Strategic Petroleum Reserve, Coast, Colorado State University Locations: New York, Israel, Iran, Covid, California, De Haan ., Washington, Syria, West Texas, New Mexico, Saudi Arabia, Russia

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