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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOur love affair with AI is nowhere near over, says Malcolm EthridgeMalcolm Ethridge, Executive Vice President of CIC Wealth, discusses how he sees the trading day ahead shaping up.
Persons: Malcolm Ethridge Malcolm Ethridge Organizations: CIC Wealth
That's because, taken together, the two primary Social Security funds are set to only be able to pay out full benefits through 2035; the Old-Age and Survivors Insurance Trust Fund, one of the main funds comprising Social Security, will start getting depleted in 2033. AdvertisementIn other words, the moment that today's older Gen Xers are ready to retire, their Social Security benefits could start to shrink. Gen Xers — born from 1965 to 1980 — have been deemed the country's "neglected middle child" by the Pew Research Center. And among the different generations, Gen Xers were the most likely to report that they were feeling financially insecure. That could set the stage for the new crop of Gen X retirees to arrive in an already-precarious retirement economy.
Persons: , Gen X, Xers, Gen Xers —, YouGov —, Gen Xers, X, Gen Zers, Gen, Michele Raneri, aren't, Xer Organizations: Service, Gen, Social Security, Insurance Trust Fund, Business, Security, Pew Research Center, of Congress, Millennials, TransUnion, Survey, Alliance, Lifetime, Income
Reuss also touted the competitiveness of GM's Chinese joint venture partners such as Wuling Motors. GM's market share in China, including its joint ventures, has plummeted from roughly 15% as recently as 2015 to 8.6% last year — the first time it has dropped below 9% since 2003. DETROIT – General Motors believes it can regain market share in China after hitting a roughly 20-year low last year amid changing market conditions and increased domestic competition, GM President Mark Reuss said Thursday. The market declines have spurred questions on whether GM would exit China, as it has other underperforming markets in recent years. The automaker said Steve Hill, currently GM's vice president of global commercial operations, would succeed GM China President Julian Blissett, effective June 1.
Persons: Mark Reuss, Reuss, " Reuss, Mary Barra, Steve Hill, Julian Blissett Organizations: Hamtramck Assembly, Wuling Motors, GM, Buick, DETROIT –, Motors, JV, Financial Times, Car, U.S . GM's, Chevrolet, China Locations: Detroit, Hamtramck, Michigan, China, DETROIT, U.S . GM's U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. export controls on Chinese firms could 'get even worse' if Trump is re-elected: AnalystPaul Triolo, senior vice president for China and technology policy lead at Albright Stonebridge Group, discusses the United States' decision to cancel some export licenses of suppliers to China's Huawei.
Persons: Trump, Paul Triolo Organizations: Albright, Group, Huawei Locations: China, United States
Many Americans don't know, and it's getting even harder to calculate — especially as Social Security is poised to start reducing benefits in just about a decade. Related stories"That number is all over the place," Copeland said, referring to how much people are going to need in retirement savings. "It will be devastating if people who already are facing very dire retirement prospects get less Social Security than they're planning on. Estimating how much you will need in retirement may be helpful, even long before retirement. That highlights the fact that calculating how much you're going to actually need in retirement is complicated.
Persons: it's, That's, there's, Craig Copeland, Copeland, , William Arnone, Indira Venkateswaran, Greenwald Organizations: Service, Security, Greenwald Research, Business, AARP, Wealth, Research Institute, Social, Social Security, National Academy of Social Insurance Locations: America
If former President Donald Trump wins a second term in the November election, expect him to try to stay in power beyond his allotted four years, says Nobel Prize-winning economist Joseph Stiglitz. Right now, a second Trump term is a real possibility. AdvertisementInstead, Trump is more likely to declare a state of emergency, Stiglitz said, in an attempt to delay or cancel elections. The executive branch has no power to move the date of elections, according to the National Constitution Center. AdvertisementChanging an election date via Congress would need the approval of both the Senate and the House of Representatives, and the two chambers would have to come up with a new election date, per the National Constitution Center.
Persons: Donald Trump, Joseph Stiglitz, Putin, Orbán, Bolsonaro, Stiglitz, Trump, Joe Biden, Brad Raffensperger, Mike Pence, I'm, Pence, Ronald Reagan Organizations: Service, Business, Trump, RealClearPolitics, Georgia, Capitol, Republican Senate, Congress, National Constitution Center, Senate, Representatives, Constitution Center, Congressional Research Service, CRS, :, Good Society Locations: Ohio
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoger Ferguson on new CEO survey: Recession concerns have 'faded drastically'Roger Ferguson, The Business Council vice chairman, The Conference Board trustee and former Federal Reserve vice chairman, joins 'Squawk Box' to discuss the results of the 'Conference Board Measure of CEO Confidence' survey, the increase in cautious optimism among CEOs, top concerns facing executives, the Fed's inflation fight, and more.
Persons: Roger Ferguson Organizations: The Business, Federal Reserve
“I worry about fundamental freedoms across the board.”Asked what specific legal precedents could be undone by the court, Ms. Harris demurred, saying she was “hesitant” to do so. Image At a campaign event in Elkins Park, Pa., on Wednesday, Ms. Harris cast abortion rights as an issue of personal freedom. She said she judged Mr. Trump based on his conduct, adding that she had never met him personally. “I think they might do that,” Mr. Trump said of states’ monitoring of women’s pregnancies in an interview with Time magazine last month. Ms. Harris said she was not worried that such efforts could help Mr. Trump win support from voters who support abortion rights.
Persons: Kamala Harris, Biden’s, Clarence Thomas, , Harris, , Harris demurred, Harris’s, Biden, Donald J, Trump, John Roberts, Roe, Wade, Thomas’s, Thomas, Amy Coney Barrett, Brett Kavanaugh, Neil Gorsuch, Mr, Kavanaugh, Justin T, Sheryl Lee Ralph, “ It’s Organizations: The New York Times, Mr, Trump, Time, “ Abbott, Biden, United Locations: , San Francisco, Pennsylvania, California, Elkins Park, Pa, Washington, United States
For adults, autism diagnosis can unlock a new life
  + stars: | 2024-05-09 | by ( Matt Villano | ) edition.cnn.com   time to read: +10 min
Jesse Grant/Getty ImagesFor some, an adult autism diagnosis is an inflection point — the moment in which a clearer and more fulfilling existence starts anew. Whatever the perspective, an adult autism diagnosis is an identity builder, instantaneously minting new members of the growing autism community. How to get help Help is available if you or someone you know is struggling with suicidal thoughts or mental health matters. “This is why a diagnosis can be so important.”An autism diagnosis can be everythingAdults are seeking formal autism diagnoses in record numbers, according to providers and practitioners who specialize in autism. “Getting an autism diagnosis, becoming part of the autism community, has completely recontextualized my life,” said Sellergren, who was diagnosed in 2021 at age 44.
Persons: CNN — John Frizzell, David Hume, , Frizzell, Beavis, John Frizzell, Jesse Grant, , Lindsay Naeder, Michael Chez, Ingrid Boveda, Boveda, , Quinten Harvey, ” Harvey, , Vanessa Bal, Bal, neurodivergence, Autism, Naeder, Ed Asner, Spencer Harte, Harte, I’m, ” Harte, “ I’m, Bird Sellergren, Sellergren, ” Matt Villano Organizations: CNN, , US Centers for Disease Control, Autism, US Bureau of Labor Statistics, International Association for Suicide Prevention, Befrienders, Autism Society, Research, Sutter Institute for Medical Research, Harvey Psychological Services, Rutgers University’s Graduate School of Applied, Professional, Rutgers, Team, Hollywood Locations: United States, Sacramento , California, Salt Lake City, neurodivergence, Los Angeles, San Francisco, Northern California, whalehead.com
Hong Kong CNN —Chinese search engine giant Baidu has found itself in a public relations crisis, thanks to its own PR chief. Qu, Baidu's vice president and head of communications, has sparked backlash over her comments endorsing a tough workplace culture. China’s young workers have increasingly spoken out against the harsh workplace culture that has come to dominate many industries. Qu had asked all members of the PR team to create their personal accounts, according to the person, who requested anonymity. A former Baidu employee said Qu brought Huawei’s aggressive corporate culture with her to Baidu.
Persons: Qu Jing, Qu, I’m, ” Qu, , , Jing, China’s, Ivy Yang, ” Yang, Alibaba, Jack Ma, Ma, Baidu, Cristina Organizations: Hong Kong CNN, Baidu, Xinhua, Huawei, CNN Locations: China, Hong Kong, Weibo
Miss Teen USA UmaSofia Srivastava resigned two days after Miss USA Noelia Voigt gave up her crown. For the first time in its 72-year history, the pageant has neither a Miss USA nor a Miss Teen USA titleholder after both women resigned this week. Miss Teen USA UmaSofia Srivastava announced her resignation on Wednesday, two days after Noelia Voigt gave up the Miss USA crown. Without them, there is no Miss USA and Miss Teen USA. Do you work for the Miss USA organization or have an experience to share about pageants?
Persons: Miss Teen USA UmaSofia Srivastava, Miss USA Noelia Voigt, Srivastava, Voigt, , Noelia Voigt, Craig Barritt, I've, Voight, Claudia Michelle, Michelle, Miss Texas R'Bonney Gabriel, Max Sebrechts, Sebrechts, Crystle Stewart, Laylah Rose Organizations: Miss Teen USA, Miss USA, Service, Miss, National Honor Society, Business, Miss Teen, Miss New Jersey Teen USA, Miss Universe, BI Locations: Miss USA, Venezuelan, American
Prime Minister Rishi Sunak of Britain will tell university leaders on Thursday to do more to combat antisemitism on college campuses, in a sign of rising dissatisfaction within government about the recent growth of encampments set up by students protesting the war in Gaza. Vice chancellors from some of Britain’s prominent universities have been invited to Downing Street to discuss “escalating antisemitic abuse toward Jewish students in the U.K.,” Mr. Sunak’s office said in a statement issued in advance of the meeting. But small-scale, largely peaceful protest encampments have sprung up recently around several universities, including Oxford, Cambridge, Newcastle, Leeds and Manchester. “Universities should be places of rigorous debate but also bastions of tolerance and respect for every member of their community,” Mr. Sunak said the statement released by his office ahead of the meeting. “A vocal minority on our campuses are disrupting the lives and studies of their fellow students and, in some cases, propagating outright harassment and antisemitic abuse.
Persons: Rishi Sunak, ” Mr, Sunak, , Organizations: Locations: Britain, Gaza, Oxford, Cambridge, Newcastle, Leeds, Manchester
Protesting Israel's war in GazaStudents gather on the campus of Wayne State University to protest Vice President Kamala Harris and the Biden administration's support for Israel during her visit to Detroit. The following day, New York City police descended upon the encampment, arresting more than 100 protesters, including Rep. Ilhan Omar's daughter. The arrests sparked similar demonstrations at dozens of colleges and universities nationwide, including the University of Texas Austin, the University of Southern California, and the University of Chicago. More than 34,000 Palestinians have been killed and over 80,000 injured in the Gaza Strip, according to an assessment by the United Nations. The UN report called the level of casualties "unprecedented and still mounting" in the seven months since Hamas militants attacked southern Israel on October 7.
Persons: Kamala Harris, Biden, Adam J, Nemat Shafik, Ilhan, University of Texas Austin, Abdallah Al Dardari Organizations: Wayne State University, Israel, Dewey, Anadolu, Getty, Columbia, University of Texas, University of Southern, University of Chicago, United Nations, UN, Associated Press Locations: Gaza, Detroit, Columbia, Israel, New York City, University of Southern California
JPMorgan said this regional bank is so appealing that it would have attracted attention from the late Charlie Munger. "When we think of the late, great Charlie Munger and his mantra to 'buy wonderful businesses at fair prices,' the bank that fits this bill in our view is Cullen Frost," the firm's bank analyst Steven Alexopoulos said in a note. However, JPMorgan said the bank's "strong organic growth story" remained fully intact. JPMorgan said investors are now able to buy the shares at 13.1 times forward earnings, compared to a 16X historical average. The bank maintained its overweight rating and has a 12-month price target of $140 per share, which would translate into 32% upside from Tuesday's close of $105.62.
Persons: Charlie Munger, Cullen Frost, Steven Alexopoulos, Munger, Buffett, Cullen, Frost, — CNBC's Michael Bloom Organizations: JPMorgan, Berkshire Hathaway's, CFR, Frost Bankers Locations: San Antonio , Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe only way to prove your professional worth is to work at it, says NBCUniversal's Bonnie HammerNBCUniversal vice chair and ’15 Lies Women Are Told at Work’ author Bonnie Hammer joins 'Squawk Box' to discuss essential career advice in the workplace, the difference between personal worth and professional worth, the importance of mentors, and more.
Persons: Bonnie Hammer
Other VP contenders at the weekend meeting included Stefanik, Scott and North Dakota Gov. This may help to explain why some influential Trump donors are especially wary of Ohio Republican Sen. J.D. Rubio, Stefanik, Scott and Burgum have all privately been pitched to Trump as top prospects with close ties to top business leaders. Those ties could bolster Trump's fundraising operation if one of them is chosen as his running mate, according to people familiar with the matter. Burgum could even help to self-fund Trump's campaign, just as he did for his own Republican primary run for president.
Persons: Donald Trump, Brendan Mcdermid, Trump, Ike Perlmutter, Elise Stefanik, Rupert Murdoch, Glenn Youngkin, Billionaire, South Carolina Sen, Tim Scott, Scott, Larry Ellison, Perlmutter, Florida Republican Sen, Marco Rubio's, Rubio, Stefanik, Doug Burgum, Marc Short, Mike Pence, Ohio Republican Sen, J.D, Vance, Vivek Ramaswamy, It's, Vivek, Ramaswamy, it's, I'm, Joe Biden's, Burgum Organizations: Reuters, Marvel Entertainment, New York, Republican, Virginia Gov, Billionaire Trump, Oracle, Fox, CNBC, Florida Republican, Republican National Committee, North Dakota Gov, Mar, Trump, Ohio Republican, Ivy League, Commission Locations: Freeland , Michigan, U.S, South Carolina, Palm Beach, Fla, Scott, Ohio
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Disappointing' that Apple didn't show off that many AI use cases with new iPads, IDC saysBryan Ma, vice president of client devices research at the research firm, discusses the launch of Apple's latest iPads.
Persons: Bryan Ma Organizations: Apple, IDC
The Federal Deposit Insurance Corporation, or FDIC, has a "patriarchal" culture, according to an independent report. The bank regulator took no action on dozens of harassment complaints and moved wrongdoers around. The report said the FDIC has dismissed myriad harassment complaints and that wrongdoers are moved around internally or promoted. AdvertisementThe independent investigators spent nine pages discussing FDIC chairman Martin Gruenberg's conduct. The FDIC did not immediately respond to a request for comment from Business Insider sent outside standard hours.
Persons: , Cleary Gottlieb Steen, Hamilton, Martin Gruenberg's, Gruenberg, Travis Hill, Karine Jean, Pierre didn't Organizations: Federal Deposit Insurance Corporation, Service, Wall Street Journal, FDIC, Democrat, Republican, White, Business Insider Locations: wrongdoers, Gruenberg
New York CNN —Martin Gruenberg, the chair of the Federal Deposit Insurance Corporation, is facing a barrage of calls from lawmakers to resign after a scathing 234-page report released Tuesday detailed pervasive sexual harassment, discrimination and bullying at the agency. If he heeds the calls, there could be significant ramifications for banks across the country. “We do recognize that, as a number of FDIC employees put it in talking about Chairman Gruenberg, culture ‘starts at the top,’” the report said. Gruenberg’s temperament “may hinder his ability to establish trust and confidence in leading meaningful culture change,” the report added. Aside from Democratic Rep. Bill Foster, Democrats have stopped short of calling on Gruenberg to resign.
Persons: New York CNN — Martin Gruenberg, Cleary Gottlieb Steen, Gruenberg, , , , ” That’s, CNN Gruenberg “, Joe Biden, Bill Foster, That’s, Travis Hill, Rulemaking, ” Dennis Kelleher, Hill, Cowen, Sen, Elizabeth Warren aren’t, Karine Jean, Pierre didn’t, Biden, Kelleher Organizations: New, New York CNN, Federal Deposit Insurance Corporation, Hamilton, FDIC, CNN, Democrat, Democratic Rep, Republican, Senate, Democratic, Better, Federal Reserve, White Locations: New York, Basel
Since 1940, the state has voted for the Republican presidential nominee in every election except for 1964 and 2008. And former President Donald Trump is virtually assured of winning the state this November, as he also did in 2016 and 2020. But an interesting thing happened on Tuesday: Trump won the GOP presidential primary, but former UN Ambassador Nikki Haley still won over 20 percent of the vote, despite her March exit from the race. With nearly all precincts reporting their results, Trump earned 461,663 votes (78.3 percent) to Haley's 128,168 votes (21.7 percent). But many suburban voters are also concerned about issues like the preservation of democracy, abortion rights, and environmental policy, which all strongly favor Biden.
Persons: , Mike Pence, Dan Quayle, Donald Trump, Trump, Nikki Haley, Haley, Biden Organizations: Service, Republican, Business, GOP, Indianapolis, — Trump, Marion, Trump, Indiana, RNC Locations: Indiana, Virginia, North Carolina, Indianapolis, Marion, Trump's, Hamilton County, Milwaukee, While Indiana
Mortgage rates are significantly higher than they were at the start of this year, but they pulled back slightly last week after several weeks of straight increases. "First-time homebuyers account for roughly half of purchase loans, and the government lending programs are an important source of financing for these homebuyers. The dip in rates caused refinance demand to increase 5% for the week, although it was still 6% lower than the year-earlier week. Applications for a mortgage to purchase a home rose 2% for the week but were still 17% lower than the same week a year earlier. Mortgage rates fell further to start this week.
Persons: Mike Fratantoni, MBA's, Fratantoni Organizations: Federal Reserve's, Federal Housing Administration Locations: Manhattan, New York City
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're concerned there won't be enough metal to meet energy transition targets: Wood MackenzieJulian Kettle, vice chair of metals and mining and senior vice president at Wood Mackenzie, says steel remains the biggest challenge in "greening" the metals and mining industry. He adds that "we are way behind target" when it comes to the delivery of metals for the energy transition.
Persons: Wood Mackenzie Julian Kettle, Wood Mackenzie
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Kristi Noem paid an odd compliment to former President Donald Trump in her much-talked-about memoir. AdvertisementAs for Trump, Noem, who previously served in Congress before she was elected to lead the Mount Rushmore State, offered effusive praise for the former president throughout the book. "He really doesn't think he's better than anyone else," Noem wrote on Trump, a claim that even the former president might protest. "I love to watch her figure things out, in ways that grown-ups like me, would never consider, because that's just how we've always done things, Noem wrote.
Persons: , Kristi Noem, Donald Trump, Miss Addie, Noem, Trump, Kim Jong Un, Joe Biden, that's Organizations: Service, Dakota Gov, Trump, Business, South Dakota Republican, North, Mount Rushmore State
Read previewEarly on Tuesday, Israeli tanks seized control of the vital Rafah border crossing between Gaza and Egypt. But throughout its eight-month war, Israel has shown that it is willing to reject and ignore the advice of its most important international ally, the US. Israel on Monday warned civilians in eastern Rafah to evacuate, indicating that an attack may be imminent. His coalition is fragile, and he relies on the support of far-right lawmakers who are demanding an attack on Rafah. AdvertisementThe Gaza war has repeatedly threatened to spill into a wider regional conflict, and scenes of new civilian suffering in Rafah could intensify that threat.
Persons: , Joe Biden, Benjamin Netanyahu, Matt Duss, Biden, John Kirby, Netanyahu, Israel Biden, Israel, JIM WATSON, He's, Aaron David Miller, Dave Harden Organizations: Service, Hamas, Israeli, Business, Washington, Center for International, House, Monday, Biden, Getty, US, Carnegie Endowment, International Peace, Wall Street, New York Times, US Agency for International Development, West Bank, BBC Locations: Gaza, Egypt, Israel, Rafah, Ukraine, Israel —, Qatar, New York City, Palestinian, Saudi Arabia
Tesla Chairwoman Robyn Denholm has just sold $17.3 million worth of her shares in the electric vehicle maker, according to a filing Monday, bringing her total stock sales this year to more than $50 million. Former Tesla Senior Vice President Drew Baglino, who announced his resignation in mid-April, sold shares worth around $181.5 million soon after his departure, according to a filing. In Denholm's early years on the Tesla board, she served on the audit committee. Before joining the Tesla board, Denholm served in executive roles at Sun Microsystems, and in finance roles at Toyota in Australia and at accounting firm Arthur Andersen. In her opinion, Chancellor Kathaleen McCormick wrote that by serving on Tesla's board, Denholm received "life-changing" compensation, which "far exceeded the compensation she received from other sources."
Persons: Robyn Denholm, Tesla, Denholm, Drew Baglino, Kathleen Wilson, Thompson, Elon Musk, hasn't, Musk, Arthur Andersen, , Chancellor Kathaleen McCormick Organizations: Tesla Inc, American, of Commerce, Tesla, SEC, Sun Microsystems, Toyota Locations: Australia, Sydney, what's, Delaware
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