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☆ Having Taylor Swift play in your city is almost like hosting the Super Bowl, says Bank of America
▼ + stars: | 2024-02-01 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

Stadium events are giving US cities a huge economic boost, according to Bank of America. In a research note, the bank compared two Taylor Swift concerts to Super Bowl LVII. The Federal Reserve has also highlighted the "Eras Tour" for boosting consumer spending. AdvertisementIf your city can't host the Super Bowl, Taylor Swift coming to town might be the next best thing. That's according to Bank of America, compared the economic impact of football's flagship game with the pop superstar's "Eras Tour" in a new research report .

Persons: Taylor Swift, —, Taylor Bowley, David Tinsley Organizations: Bank of America, Federal, Service, Pittsburgh, Business

☆ A New York City Socialite Returns to Her Southern Roots
▼ + stars: | 2023-11-24 | by ( Sadiba Hasan | ) www.nytimes.com time to read: +1 min

From the mid- to late-2000s, Ms. Mortimer dominated the New York social scene as a prominent guest at the most glamorous charity balls and fashion shows. She attracted the cameras in her colorful baby-doll designer dresses and was omnipresent in the papers and gossip pages. She settled into a quiet, private life in Augusta, Ga., with Mr. Bovard and his three children. “I love Augusta. Mr. Bovard was a groomsman at the wedding.

Persons: Tinsley Randolph Mortimer, Mortimer, Robert Dennis Bovard, Bovard, “, Augusta, I’m, Mercer Ferguson Organizations: New, York Magazine, Housewives, University of the Locations: New York, New York City, Augusta , Ga, Richmond, Va

Six months later, his friend-turned-rival Notorious B.I.G, whose legal name is Christopher Wallace, was gunned down. They hung out together on the set of the 1993 film “Poetic Justice,” which starred Janet Jackson and Shakur. Shakur found out that the night of that attack, Wallace and Sean “Diddy” Combs were together in a recording studio. East vs. West coastsLess than 24 hours after the 1994 shooting, Shakur made a court appearance in a wheelchair on sex-assault charges against him. Greenidge, who described the rapper as a professional mentor, told the grand jury he was in the convoy.

Persons: Tupac Shakur, Shakur, B.I.G, Christopher Wallace, Wallace, Duane “ Keffe, ” Davis, Davis, enmeshed, ”, Justin Tinsley, Janet Jackson, Sean “ Diddy ” Combs, Combs, Malcolm Greenidge, Reggie Wright Jr, Marion “ Suge, Knight, disrespecting Combs, Tha, Snoop Dogg, Faith Evans, “ It’s, Wright, Robert Ladd, Ladd, “, Orlando Anderson, ” Denvonta Lee, Mike Tyson, Bruce Seldon, Anderson, Daniel Ford, Ford, Lee, Deandrae Smith, Smith, “ Keffe, ” Lee, Keffe, Biggie Shakur, Tinsley, ” “ Biggie, ” Tinsley, ‘, Tupac, Rio Yamat, Ken Ritter, Scott Sonner, Gabe Stern, Andrew Dalton, Ryan Pearson, Stefanie Dazio, Felicia Fonseca Organizations: ANGELES, New York City, The Associated Press, Los, Records, New, Boy Records, Row, Tha Dogg, West Coast, Side, South Side, Bloods, MGM, Anderson, BMW, Authorities, Cadillac, ” Police, Las Vegas, ___ Associated Press Locations: East, West, New York, Las Vegas, Compton, midtown Manhattan, East Harlem , New York, Los Angeles, Brooklyn, Harlem, New York City, York , New York, Vegas, Lakewood, South Los Angeles, Reno , Nevada, Flagstaff , Arizona

☆ The strength of the labor market is driving the ability to borrow, says BofA's David Tinsley
▼ + stars: | 2023-09-14 | 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 strength of the labor market is driving the ability to borrow, says BofA's David TinsleyDavid Tinsley, senior economist at the Bank of America institute, and Steven Wieting, chief investment strategist at Citi Global Wealth Management Investments, join 'The Exchange' to discuss the deceleration in consumer spending, inventories shrinking due to persistent strength in services hiring, and more.

Persons: BofA's David Tinsley David Tinsley, Steven Wieting Organizations: Bank of America, Citi Global Wealth Management Investments

LOS ANGELES (AP) — This week the United States’ biggest newspaper chain posted to its site two unusual job listings: a Taylor Swift reporter and a Beyoncé Knowles-Carter reporter. Political Cartoons View All 1157 ImagesSome journalists criticized the listings for presenting superfan behavior as a full-time journalism job, especially as job opportunities shrink and music journalists are paid low wages. “If there wasn’t that component to it, there wouldn’t be a Beyoncé reporter,” Tinsley said. “It is a bit odd, but Taylor Swift Inc., I guess you would call it, is a big economic driver right now,” said Eric Grode, director of the Goldring Arts Journalism and Communications program at Syracuse University. Representatives for Swift and Beyoncé did not immediately respond to requests for comment.

Persons: Taylor Swift, Knowles, Carter, it'll, Beyoncé Knowles, Omise’eke Tinsley, “, ”, ” Tinsley, Amy Chozick, Hilary Clinton, Suzy Exposito, ” Exposito, Eric Grode, “ Taylor Swift, Grode, ” Rick Edmonds, Taylor, Exposito, Soraya Roberts, Tinsley, Swift, Beyoncé, David Bauder Organizations: ANGELES, States ’, Gannett, USA, Swift, New York Times, Los Angeles Times, Taylor Swift Inc, Goldring Arts Journalism, Communications, Syracuse University, Poynter Institute, AP Locations: Nashville, Beyoncé, New York

☆ Consumer spending: Gen Z, Millennials are scrimping. Boomers are living it up
▼ + stars: | 2023-06-12 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

While Baby Boomers and even Traditionalists (born 1928-1945) are ramping up spending, Gen X, Gen Z and Millennials are cutting back as they grapple with high housing costs and looming student debt payments. If not for the aggressive spending by Boomers, Tinsley said, overall consumer spending would have been even more negative. Bank of America spending data shows a noticeable bump in spending by households that received the cost-of-living boost. The student debt freeze, in effect since March 2020 when the Covid pandemic erupted, is expected to conclude by the end of August. For millions of Gen Z and Millennials, the return of student debt payments will mean less money for spending on restaurants and vacations.

Persons: Gen X, Gen, ” David Tinsley, Tinsley, ” Tinsley, ”, Biden, “ Organizations: New York CNN, Younger, Bank of America, Boomers, Bank of America Institute, CNN, Baby Boomers, Social, New York Federal Reserve Locations: Tinsley

☆ This chart shows the fastest-rising costs for Social Security beneficiaries
▼ + stars: | 2023-05-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Lordhenrivoton | E+ | Getty ImagesHigh inflation 'extremely difficult' for retireesSocial Security COLAs have increased by 78% since 2000, according to The Senior Citizens League. At the same time, the cost of goods and services retirees typically buy has gone up by 141.4% over that time. Yet the current 36% loss in buying power is still one of the deepest losses recorded, according to the group. Eggs topped the list of fastest-growing costs for seniors since 2000. While higher spending may complicate the fight against higher inflation, it is delayed relief for older Americans, whose COLA was lower than price growth in 2022.

☆ After an 8.7% Social Security cost-of-living adjustment for 2023, next year's increase may not be as large
▼ + stars: | 2023-03-20 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

Pascal Broze | Onoky | Getty ImagesAn 8.7% Social Security cost-of-living adjustment for 2023 means beneficiaries received on average $140 per month more starting in January. The Social Security COLA for 2023 was the highest bump in monthly checks beneficiaries have received in four decades. About 70 million beneficiaries receive Social Security or Supplemental Security Income payments. watch nowWhile the Social Security COLA for this year may help ease beneficiaries' budgets, next year's increase may not be as large. Social Security COLA for 2024 may be far lessBased on current projections, the Social Security COLA for 2024 will likely be much lower than this year's 8.7% due to cooling inflation, according to the league.

☆ Parental leave is the greatest benefit workers don't take
▼ + stars: | 2022-12-14 | by ( Rebecca Knight | Shana Lebowitz | ) www.businessinsider.com time to read: +8 min

The share of US workers who have access to family leave, including parental leave, is increasing. Like many women, Amanda Krupa took less parental leave than she was allowed in order to protect her career and income. The rate of women taking maternity leave hasn't changed since the '90sThe US is the only industrialized country that doesn't guarantee paid parental leave. Some employers offer short-term-disability insurance to help cover workers' parental leave, but it doesn't always replace all wages. Today, all employees there are eligible for 16 weeks of paid parental leave.

☆ Consumer spending is robust but slowing, says Bank of America senior economist
▼ + stars: | 2022-11-11 | 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 EmailConsumer spending is robust but slowing, says Bank of America senior economistDavid Tinsley, senior economist at the Bank of America institute, joins CNBC's 'Squawk Box' to discuss the health of the U.S. consumer ahead of the busy holiday shopping season.

☆ America’s dependence on credit cards is growing. The Fed’s rate hike will make it more painful
▼ + stars: | 2022-09-22 | by ( Martha C. White | ) edition.cnn.com time to read: +7 min

CNN —As prices continue to rise, Americans are becoming increasingly reliant on credit cards to make purchases. “The effect on existing credit card borrowers is probably actually worse,” he said, because of the rate hikes the Fed has undertaken already this year. Credit cards were a big cause of that: In the second quarter, 233 million new credit accounts were opened, the largest increase since 2008. Of the new debt that accumulated during that quarter, $46 billion was credit card debt. Credit bureau TransUnion found that there are more credit cards today, and there is more debt on those cards.

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