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☆ A flurry of new rules from the Biden administration attempt to ban noncompetes, boost overtime pay, and increase refunds for delayed flights
▼ + stars: | 2024-04-27 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

Read previewThe Biden administration this week pushed out a slate of rules it says are meant to boost competitiveness and put more money into workers' pockets. There are already challenges to at least one of the rules — but together they could land overtime pay for millions more workers, ban noncompetes that prevent workers from moving into jobs in similar industries, and help people get automatic refunds for delayed or canceled flights. More workers eligible for overtime payUnder the Department of Labor's new rule, many workers who make under $43,888 will be eligible for overtime pay effective July 1. A ban on noncompetes that keep workers from taking new jobsPerhaps the most sweeping action for workers came from the Federal Trade Commission, which finalized a rule to ban noncompetes in most cases. Will a ban on noncompetes, new overtime thresholds, or airline refunds affect your life?

Persons: —, Biden, Lael Brainard, That's, it's, Judy Conti, Pete Buttigieg, Brainard, Aaron, Ryan, John Smith, Suzanne Clark, Jeremy Merkelson, Davis Wright Tremaine, Merkelson, Elizabeth Wilkins, Wilkins Organizations: Service, Business, National Economic Council, Department of, National Employment Law, of Transportation, Federal Trade Commission, . Upjohn Institute, Employment Research, of Commerce, Texas Association of Business, Federal Trade, Chamber of Commerce, FTC

☆ Old, unused, and 'twisty' — meet the obscure NY election-conspiracy law that just might get Trump convicted
▼ + stars: | 2024-04-27 | by ( Laura Italiano | ) www.businessinsider.com time to read: +10 min

Attorneys specializing in state election law believe the statute has never been prosecuted. Jeenah Moon-Pool/Getty ImagesTwo highly respected law professors specializing in New York election law said the same. "I think it's very smart of prosecutors to use this state law, whether it's been used before or not," said Jeffrey M. Wice, who teaches state election law at New York Law School. Related storiesThese same three "underlying crimes" — using state election law, federal election law, and state tax law — were again given equal prominence here in a February 15 decision by Merchan. "You're having an underlying crime within an underlying crime to get to that felony," Connor told BI.

Persons: Alvin Bragg's, Trump, —, Donald Trump's, Donald Trump, Law Trump, Stormy Daniels, Joshua Steinglass, Juan Merchan, Steinglass, I've, Sen, Martin Connor, Joseph T, Burns, that's, it's, Jeffrey M, Wice, — Merchan, Alvin K, Trump's, Attorney Alvin Bragg, Michael Cohen, Daniels, Cohen, Connor, Prosecutors, Jerry H, he's, Goldfeder, Cozen O'Connor Organizations: Service, Manhattan, New York, Court, New, Republican, Democratic NY, Erie, Erie County Republican, New York Law School, Attorney, National Enquirer, Trump, Fordham Law, Democracy Locations: Manhattan, New York, Brooklyn, Erie County, Buffalo , New York

Emory University: 28 people were arrested, including 20 Emory community members, during a protest at the school, Vice President for Public Safety Cheryl Elliott said. Brown University: The university identified about 130 students who it alleges violated a school conduct code that forbids encampments on campus. George Washington University: DC Metropolitan Police were asked to assist in relocating an “unauthorized protest encampment” on campus, university president Ellen M. Granberg said. Northeastern University: An encampment formed at Northeastern University in Boston, where dozens of protesters were seen forming a human chain around several tents. Other campuses: Since last Thursday, there have been protests at several campuses, including the Massachusetts Institute of Technology, University of Texas at Austin, University of Michigan, University of New Mexico, University of California, Berkeley, Yale University, Harvard University, Princeton University and the University of Minnesota’s Twin Cities campus.

Persons: —, Minouche, Shafik, Cheryl Elliott, Jay Bernhardt, Ellen M, Granberg, GWPD Organizations: New York's Columbia University, Columbia University, The New York Times, University of Southern, Emory University, Emory, Public, Troopers, Georgie State Patrol, Democratic, Georgia State Patrol, Emory . Brown University, Students, Emerson College, Boston, Boston Police Department, Indiana University, George Washington University, DC Metropolitan Police, University of California, UCLA, Northeastern University, Massachusetts Institute of Technology, University of Texas, Austin , University of Michigan, University of New, Yale University, Harvard University, Princeton University, University of Minnesota’s, University of Minnesota’s Twin Cities Locations: Israel, Gaza, University of Southern California, Democratic Georgia, Los Angeles, Boston, University of New Mexico, Berkeley, University of Minnesota’s Twin

☆ As pro-Palestinian protests sweep college campuses, student journalists are rushing to the big story and exams
▼ + stars: | 2024-04-26 | by ( Hadas Gold | Liam Reilly | ) edition.cnn.com time to read: +4 min

Smith is editor-in-chief of The Lantern, Ohio State University’s student-run newspaper, which has scrambled in recent days to cover pro-Palestinian protests roiling the campus. It’s also finals week, and in the coming days the newspaper’s staff will transition to the next year’s staff. And, for many of these student journalists, it’s becoming a seminal moment in their nascent careers. “Given that we’re student journalists, we know the campus and the students here. As pressure mounted on campus, the newspaper mobilized a handful of writers who worked together to cover the protests.

Persons: Arianna Smith, Smith, It’s, ” Smith, it’s, “, We’re, we’re, Anjali Patel, ” Patel, “ We’re, Amelia Kimball, Kimball, Greg Abbott, ” Kimball, CNN’s John Berman, ” Organizations: CNN, Ohio State University’s, Ohio, ”, University of Southern, The Daily, USC, Daily, University of Texas, The Daily Texan, “ Locations: Gaza, Columbus, University of Southern California, Austin, Texas

☆ Americans Went All-In on Self-Storage. That Demand Is Suddenly Cooling.
▼ + stars: | 2024-04-26 | by ( Martha C. White | ) www.nytimes.com time to read: +1 min

Peter Chu, a retired lawyer living in Portland, Ore., pays nearly $400 a month for his storage unit in Seattle, where he used to live. That rate has gone up by roughly $150 since 2022. Mr. Chu is caught in an industry that was booming a few years ago during the coronavirus pandemic but now finds it has built way too many rental units. As the industry cuts so-called street rates to entice new customers, its existing customers are paying substantially higher rates that are sometimes raised twice or more in a year. “It was really attractive in the moment, but as soon as you go through planning, building, by the time you deliver, you’re kind of in a different market,” he said.

Persons: Peter Chu, Chu, Tyson Huebner, ” Organizations: Mr Locations: Portland ,, Seattle, Phoenix, Atlanta

☆ Alphabet and Chipotle are among the most overbought names on Wall Street. Here are the others
▼ + stars: | 2024-04-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

CNBC Pro used its stock screener tool to identify the most overbought and oversold stocks on Wall Street as measured by their 14-day relative strength index, or RSI. Stocks with a 14-day RSI above 70 are said to be overbought, indicating that shares might soon turn lower. On Thursday, the technology giant posted a first-quarter earnings and revenue beat as its Google Cloud and YouTube advertising revenue outpaced expectations. On the other hand, Ulta Beauty , with an RSI of 21, is one of the most oversold stocks on Wall Street. IBM stock slipped this week after the company posted better-than-expected first-quarter earnings but missed on revenue.

Persons: Jefferies, Ashley Helgans, J.B, Fred Imbert Organizations: Microsoft, CNBC Pro, Google, Hasbro, Hunt Transport Services, Tech, International, Machines, IBM

☆ A top exec at PR giant Edelman lays out its plan to invest in generative AI
▼ + stars: | 2024-04-26 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

To do so, Edelman recently promoted Brian Buchwald to global chair of product and AI to oversee the firm's AI investments. Buchwald joined Edelman in 2023 and was previously the global head of product, trust data, and technology at the firm. Previously, this tool used small language models and now uses generative AI and large language models, Buchwald said. Using generative AI has increased the tool's ability to predict future trustworthiness with 97% accuracy, he said. More broadly, holding companies have made significant investments into generative AI for content creation that compete with Edelman.

Persons: Edelman, Taco Bell, Brian Buchwald, Buchwald, Weber, Interpublic Group's Weber, Jay Pattisall, Forrester Organizations: eBay, Business, New York Times, Google, Adobe, Edelman, WPP Locations: Talkwaker

☆ 30-year-old supercommutes over 500 miles to work in New York: ‘I'm the happiest I've ever been’
▼ + stars: | 2024-04-26 | by ( Morgan Smith | ) www.cnbc.com time to read: +5 min

Some mornings, Kaitlin Jorgenson travels 544 miles to get to a job she'll be at for 72 hours. Although Jorgenson was ready to leave New York, she didn't want to give up the career she had built there. All in all, Jorgenson estimates she would spend a minimum of $4,000 each month to live and work in Manhattan. Moving to Charlotte, Jorgenson estimates, has saved her at least $2,000 each month — commuting expenses and all. During the weeks she's not in New York, Jorgenson works part-time at Superbloom Hair Studio in Charlotte, a job with flexible hours that change depending on Jorgenson's appointment schedule.

Persons: Kaitlin Jorgenson, she's, she'll, Jorgenson, Scott J, — Organizations: Charlotte Douglas International, CNBC, Companies, National Bureau of Economic Research, Corporate Locations: New York City, Charlotte , North Carolina, Brooklyn, Charlotte, New York, —, New Jersey, Manhattan, New, LaGuardia, Houston, Chicago, Queens

☆ Exxon stock falls as earnings miss on lower natural gas prices and squeezed refining margins
▼ + stars: | 2024-04-26 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

An Exxon gas station is seen on October 06, 2023 in the Brooklyn borough of New York City. Exxon Mobil on Friday reported first-quarter earnings that missed expectations as the industry came under pressure from eroding refining margins and collapsing natural gas prices. Natural gas prices have plummeted 37% this year, and refining margins are lower than they were a year ago. Oil and gas production profits fell 12% to $5.67 billion, compared with $6.46 billion in same quarter last year due to lower natural gas prices. Exxon's fuel business saw earnings plummet 67% to $1.38 billion, compared with $4.18 billion in the prior year, due to lower refining margins.

Persons: Hess Organizations: Exxon, Exxon Mobil, LSEG, Chevron, Revenue, Hess Corp Locations: Brooklyn, New York City, Guyana

Has South Africa Truly Defeated Apartheid? U.S.A., 2020 – 63% U.K., 2019 – 62% 60% 49% 40% 20% 1994 2004 2014 2019 Sources: Collette Schulz-Herzenberg, "The South African non-voter: An analysis"; Konrad Adenaur Stiftung, 2020 (South Africa); Pew Research (United States and U.K.)On a continent where coups, autocrats and flawed elections have become common, South Africa is a widely admired exception. −4% −6% Sources: Harvard Growth Lab analysis of World Economic Outlook (South Africa and sub-Saharan Africa) and World Development Indicators (upper-middle-income countries). 50% unemployment rate 40% Black unemployment rate 30% The unemployment gap between Black and white South Africans remains wide. In 2022, about 6 percent of South Africans aged 18 to 29 were enrolled in higher education, according to Statistics South Africa.

Persons: Nelson Mandela, they’ve, Collette Schulz, Konrad Adenaur Stiftung, —, Walter Sisulu, Joao Silva, New York Times Jack Martins, ”, Mandela’s, Wandile Sihlobo, Johann Kirsten, Sihlobo, Kirsten, haven’t, Zinhle Nene, Peter Mokoena, “, Mokoena, Nokuthula Mabe, Mabe, Jacob Zuma, Chrispin Phiri, Cyril Ramaphosa, Israel, Sibusiso Zikode, Zikode, Mr Organizations: African National Congress, Pew Research, Human Sciences Research, World Bank, Black South, Charter, New York Times, University of Cape Town’s Liberty Institute of Strategic Marketing, Johannesburg Stock Exchange, Economic Empowerment, South, Harvard, Economic, Government, Black, Mr, Stellenbosch University . White, Statistics, Security, JOHANNESBURG Jobs, JOHANNESBURG Sandton Downtown, West University, Education, Statistics South, General Household Survey, of, Stellenbosch University, Ministry of Justice and Correctional Services, Institute for Security Studies, International Court of Justice Locations: Africa, South Africa, Black, States, Soweto, Kliptown, Johannesburg, South, Saharan Africa, Carletonville, JOHANNESBURG, Downtown Soweto, JOHANNESBURG Sandton, JOHANNESBURG Sandton Downtown Soweto, North, Mahikeng, Botswana, Statistics South Africa, Brazil, Mexico, Philippines, African, Germany, Russia, India, China, Ethiopia, Burundi, Zimbabwe, Ukraine, New York Times South Africa, Gaza, Durban, South Africa’s

☆ Goldman Sachs likes these 2 mobile gaming stocks set for 'blockbuster' launches, gives one 40% upside
▼ + stars: | 2024-04-26 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Investors seeking exposure to China's growing mobile gaming industry should look at technology giants Tencent and NetEase , according to Goldman Sachs. The investment bank expects "China to see faster growth from mid 2024 supported by game launches and a loosening regulatory environment." Tencent Tencent's game sales were up 14% year on year domestically in March and 36% internationally. NetEase NetEase posted a 16% year-on-year rise in domestic sales growth and 1% rise in international sales growth last month, Goldman's analysts noted. Domestic mobile game sales fell by 12% year-on-year Japan in the first quarter of the year.

Persons: Goldman Sachs, 2Q24, Lincoln Kong, FactSet, NetEase NetEase, Michael Bloom Organizations: Street, Hong, Nasdaq, Hong Kong Stock Exchange, China, Domestic Locations: China, Tencent, Hong Kong, Japan, South Korea

They call it an encirclement of their nation and say the United States is trying to constrain its main economic and military rival. The United States also has a new security agreement with Papua New Guinea. On Wednesday, Mr. Biden signed a $95-billion supplemental military aid and spending bill that Congress had just passed and that includes $8.1 billion to counter China in the region. In addition, the United States continues to send weapons and Green Beret trainers to Taiwan, a de facto independent island and the biggest flashpoint between the United States and China. A swarm of Chinese militia and Coast Guard vessels chased a Philippine Coast Guard ship in the South China Sea last year.

Persons: Xi Jinping, Biden, Antony J, Blinken, Yuri Gripas, ” Ely Ratner, Xi, ” Kurt Campbell, Joseph Wu, ”, “, Samuel J, Paparo Jr, Mr, Paparo, Carl Vinson, Richard A, Brooks, Trump, Lloyd J, Austin III, Chen Jining, Jes Aznar, David H, Berger, Obama, Tony Mcdonough, United States —, Admiral Paparo, China’s “ revanchist, we’re Organizations: Australian, U.S, Marines, United, Pentagon, Corps, Mr, White House, White, The New York Times, American, Marine, Green, China’s, Liberation Army, Seoul SOUTH, Pacific Command, People’s Liberation Army, Agence France, Nuclear Forces Treaty, Defense, Communist Party, Tokyo Okinawa, U.S . Navy, Coast Guard, Philippine Coast Guard, Marine Corps, Army, Philippines Luzon Partner, Australia Darwin Potential, NATO, Tomahawk Locations: Beijing, United States, Papua New Guinea, Philippines, Japan, Okinawa, Taiwan, Asia, Pacific, U.S, China, Shanghai, South China, South Korea, Guam, Washington, Manila, Taipei, People’s Republic of China, Palau, West Papua, Seoul, Tokyo JAPAN CHINA Taipei TAIWAN Hong Kong, GUAM philippines MALAYSIA INDONESIA JAPAN CHINA TAIWAN, philippines GUAM, INDONESIA Seoul, GUAM philippines, MALAYSIA INDONESIA, Philippine, Moscow, Tokyo, Ryukyu Islands, South, Philippines Luzon, Luzon, Spratly, Australia, Canberra, Singapore, Darwin, Australia’s, . North Carolina, Virginia, Perth, United Kingdom, Navy’s, America

☆ India’s farmers are up in arms again. Will it hurt Modi’s reelection campaign?
▼ + stars: | 2024-04-26 | by ( Vinay Dwivedi | ) www.cnbc.com time to read: +5 min

Narinder Nanu | AFP | Getty ImagesNEW DELHI — Farmers in India's Punjab state are raising the pitch of their ongoing protests, as the second phase of India's general elections starts Friday. Thousands of farmers continue to drum up support for their demands, foremost being a legal guarantee for minimum support prices for their produce. A Lokniti-CSDS survey earlier this month showed 59% of the respondents found the farmers' demands "genuine," while 16% deemed the protests a "conspiracy" against the government. CNBC did not immediately receive a response from India's Agriculture Ministry on queries pertaining to the farmers' demands. What India's farmers want

Persons: Narinder Nanu, Narendra Modi, Modi, Yogendra Yadav, Sanjay Kumar, Modi's, Kumar, it's, Jagjit Singh, Ayyakannu, Dallewal Organizations: AFP, Getty, DELHI — Farmers, Bharatiya Janata Party, BJP, Modi's BJP, CNBC, India's Agriculture, Tamil Nadu, Morcha Locations: Amritsar, DELHI, India's Punjab, Punjab, Khanauri, Haryana, India, New Delhi, Delhi, Tamil, Varanasi, Tamil Nadu, Varansai, Uttar Pradesh, Samyukta

☆ Congestion Pricing Will Start on June 30 in New York City, M.T.A. Says
▼ + stars: | 2024-04-26 | by ( Ana Ley | More About Ana Ley | ) www.nytimes.com time to read: +1 min

The first congestion pricing program in the United States will begin in New York City on June 30, the Metropolitan Transportation Authority announced on Friday, signaling the possible end of a bitter fight over a plan that promises to ease some of the worst traffic in the nation. With months still to go before the program’s scheduled rollout, legal and political clashes still threaten to dilute or stop it altogether. Philip D. Murphy of New Jersey, influential unions and some elected New York City officials — have ratcheted up a long-running effort to keep congestion pricing from taking effect. Under the program, most passenger cars will be charged $15 a day to enter a congestion zone below 60th Street in Manhattan. Taxi fares would increase by $1.25, and Uber and Lyft fares would rise by $2.50.

Persons: Philip D, Murphy, Uber Organizations: Metropolitan Transportation Authority, Gov, New York, Trucks Locations: United States, New York City, Murphy of New Jersey, Manhattan

☆ 3 red flags to look out for at a Korean barbecue restaurant, according to a top Korean chef
▼ + stars: | 2024-04-26 | by ( Anneta Konstantinides | ) www.businessinsider.com time to read: +4 min

Kim hopes that by expanding Baekjeong's reach, he can share Korean barbecue with more people who've never tried it. And he shared some tips to help newcomers and Korean barbecue lovers find restaurants that offer the most authentic experience. But if you want a truly authentic, flavor-driven Korean barbecue meal, don't eat all-you-can-eat." The restaurant feels like a nightclub"There are some restaurants where you walk in, and it just doesn't seem like a barbecue restaurant," Kim said. "Korean barbecue, for me, is going to a place where you can see the people you're eating with," he said.

Persons: —, Jean, Georges, Samuel Kim, Kim, Washington —, It's, who've, Sam Kim, We've, we're, that's Organizations: Service, New York, Baekjeong, Business Locations: New, Korean, California, Washington, Los Angeles, Koreatown, Korea

☆ Miami is 'ground zero' for climate risk. People are moving to the area and building there anyway
▼ + stars: | 2024-04-26 | by ( Greg Iacurci | ) www.cnbc.com time to read: +20 min

South Pointe Beach in Miami Beach, Florida. Climate risk is "always on our thoughts," said Habibian, 39, who moved to Miami-Dade County about six years ago. Despite that risk, 66% of Miami-Dade County residents said they'd never leave, according to a study published in the journal Climate Risk Management. "We try to be smart about it, try to be proactive as best we can," Arditi said of climate risk. Juxtaposed at left was one of the last remaining patches of mangroves in the urban Miami area, a living memorial to a once-thriving population.

Persons: Greg Iacurci, Daniel Habibian, Harold Wanless, Sonia Brubaker, Saul Martinez, Andrew Rumbach, Rumbach, Joe Raedle, Irma, Al Diaz, they'd, Steven Bustamante, Bustamante, Jeff Greenberg, There's, David Arditi, Arditi, Aria's, Jeff Bezos, Goldman Sachs, Douglas Sacks, Ken Griffin, Brubaker, Biscayne Bay . Miami Worldcenter, Chandan Khanna, Dion Williams, Williams, Dion, Todd Crowl, Crowl, We're, Erik Salna, Chris Baraloto, Rita Teutonico, Amy Knowles, Knowles, it's, City of Miami Beach Greg Iacurci Miami Organizations: Greg Iacurci MIAMI, University of Miami, City, CNBC, Cumming Group, Florida Department of Transportation, Bentley, Bloomberg, Getty, Urban Institute, Organisation for Economic Co, Miami, Volunteers, Florida Keys, Miami Herald, Tribune, Service, Dade, Risk, Yale University's School of, Finance, SEC, Miami Beach, Universal, Group, Aria Development, National Association of Realtors ., Miami Realtors, Amazon, Citadel, Resorts, Bloomberg News, Dade County's, Getty Images, Residences, Pointe Park, Fifth, Afp, Federal Emergency Management Agency, Management, Sunshine, Insurance, Institute, Florida International University Institute of Environment, Hurricanes, University of Pennsylvania, International Hurricane Research, of, Florida International University, City of Miami Beach Locations: Pointe Beach, Miami Beach , Florida, Miami, South Beach, Dade, City of Miami, Dade County, New York, Fort Lauderdale, West Palm, South Florida, Florida, Tampa, St . Petersburg, Miami , Florida, Southeast Florida, Miami Beach, City, Aria's Miami, U.S, California , New York, New Jersey, America, Caribbean, New York City, Biscayne Bay . Miami, Pointe, It's, Surfside, . Florida, Biscayne Bay, Miami's, Bermuda, Kampong, Coconut Grove, Brittany Bay, South Pointe, City of, Brittany Bay Park

☆ Google's 'fastest-growing' moonshot that spun out into an AI earbuds startup aims to ship its first product this year
▼ + stars: | 2024-04-26 | by ( Hugh Langley | ) www.businessinsider.com time to read: +7 min

Read previewA team inside X, Google's moonshot factory, was working on a revolutionary hearing device, Business Insider reported in 2021. A few months later, Wolverine's lead, Jason Rugolo, spun the project out of Alphabet and formed a startup named Iyo. Rugolo says the company plans to ship its first product by the end of this year. Rugolo told BI he hired Kraft for a stint at Google X to work on what would become Iyo. Iyo isn't the first X project to fly from Alphabet's nest, and it probably won't be the last.

Persons: —, Google's, Jason Rugolo, Rugolo, Iyo, Lockheed Martin, Sergey Brin, Noah Kraft, Kraft, we're, X Organizations: Service, Business, Lockheed, Horizons Ventures, US, ARPA, Research Projects Agency, Energy, Google, Doppler Labs, Spotify, TED, Wolverine, BI

☆ New home sales inch higher despite 7% mortgage rates: 'There's more opportunity,' economist says
▼ + stars: | 2024-04-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

While the spring housing market has been plagued with low supply, high prices and spiking interest rates, would-be homebuyers are focusing on new construction. New homes have more incentives and availability than previously owned ones. "There's more opportunity in new construction," said Nicole Bachaud, a senior economist at Zillow Group. Meanwhile, sales for previously owned homes dropped by 3.7% from March 2023, the National Association of Realtors found. With 30-year fixed-rate mortgage rates sitting above 7%, homeowners who bought at much lower rates in recent years don't like the prospect of trading in their low rate for a higher one.

Persons: Nicole Bachaud, Biden, Bachaud Organizations: Zillow, . Census, U.S . Department of Housing, Urban Development, National Association of Realtors, Finance, Buyers Locations: U.S

BEIJING — Chinese electric car start-ups Nio and Xpeng are turning to a lower-priced segment of the market with plans to release newly branded cars this year. Nio's first such mass market car will be an SUV cheaper than Tesla 's Model Y, CEO William Li told CNBC's Eunice Yoon on Thursday. The Tesla SUV starts at 249,900 yuan ($35,197) in China. Like many early entrants to China's electric car market, U.S.-listed Nio targeted the premium market when it launched about a decade ago. The new cars come amid an intense price war in China's new energy car market, which includes battery-only and hybrid-powered vehicles.

Persons: William Li, Nio's, Eunice Yoon, Li Organizations: New York Stock Exchange, Tesla, Volkswagen Locations: BEIJING, China, U.S

☆ Many large U.S. cities are in deep financial trouble. Here's why
▼ + stars: | 2024-04-25 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +4 min

Municipal governments across the United States are looking to rein in spending as pandemic-era stimulus dries up and inflation lingers for longer than expected. The group issued a AA investment grade general obligation bond rating for New York City in March 2024. The financial challenges within cities appear to be mounting despite high municipal credit ratings and robust demand for urban commodities like housing. "I think we can all agree that we're broke," said Houston Mayor John Whitmire in a March 2024 City Council budget hearing. Meanwhile, in the case of New York City, leaders remain optimistic about future returns.

Persons: Michael Rinaldi, Brad Lander, Sheila Weinberg, we're, Houston Mayor John Whitmire, Weinberg, We've, Lander, Eric Adams, Rinaldi, Adams Organizations: Fitch, AA, New, Truth, University of Denver, New York, Apple, Houston Mayor, Accounting, CNBC, Lander Locations: United States, U.S, New York City, Chicago, Houston, Portland , Oregon, New York

☆ Merck beats earnings expectations, raises outlook on strong Keytruda and vaccine sales
▼ + stars: | 2024-04-25 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Merck on Thursday reported first-quarter revenue and adjusted earnings that topped expectations as it posted strong sales of its blockbuster cancer drug Keytruda and vaccine products. The pharmaceutical giant also raised and narrowed its full-year revenue and adjusted earnings forecasts. Merck now expects 2024 sales to come in between $63.1 billion and $64.3 billion, up from previous guidance of $62.7 to $64.2 billion. That outlook includes a one-time charge of roughly 26 cents per share related to Merck's acquisition of Harpoon Therapeutics in January. Merck raked in $15.78 billion in revenue for the quarter, up 9% from the same period a year ago.

Persons: Merck Organizations: Merck, Harpoon Therapeutics, LSEG Locations: Rahway , New Jersey, U.S

☆ After working in the food industry for years, here are 7 things I wouldn't buy at Trader Joe's — and what I'd get instead
▼ + stars: | 2024-04-25 | by ( Molly Harris | ) www.businessinsider.com time to read: +1 min

After years in the food industry, I don't think some things are worth buying at Trader Joe's. Skip Trader Joe's Beef-less ground beef, and get its amazing soy chorizo instead. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As I began to understand more about the food and restaurant industry, I realized there are definitely some things that aren't worth getting at Trader Joe's. Here are seven items I don't pick up at the chain anymore, plus the excellent ones I suggest you try instead.

Persons: Joe's, Skip, — Organizations: Service

☆ Fears about stagflation are mounting in the US. It’s every central banker’s worst nightmare
▼ + stars: | 2024-04-25 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

And economists are forecasting new inflation data due Friday will paint a similar picture. The GDP report gave another preview of what could come. Slowing economic growth combined with rising inflation is known as stagflation. To be fair, one GDP report isn’t necessarily indicative of a trend. He repeated that message in a Wall Street Journal interview published Thursday before the GDP report was released.

Persons: there’s, JPMorgan Chase, Jamie Dimon, we’ve, ”, —, ” Dimon, Mike Reynolds Organizations: New, New York CNN, Federal Reserve, JPMorgan, Economic, of New Locations: New York, Germany, Israel, of New York

☆ CNBC's Inside India newsletter: A $270 billion gamble on green?
▼ + stars: | 2024-04-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +8 min

Solar panels stand at the Welspun Energy solar power plant in Neemuch, Madhya Pradesh, India. One sector in particular — electrical power transmission — will see $270 billion in financial benefits, according to Goldman Sachs. While utilities like the Power Grid Corporation of India may be perceived as unsexy, compared to growth stocks like Tesla, India plans to promote renewable energy without the taxpayer spending a single rupee. The country has added about 70 gigawatts of solar power capacity over the past decade without piling on further costs by simply maximizing the grid's usage. Currently, state governments in India levy surcharges and taxes on every unit of carbon-intensive energy transmitted through the grid.

Persons: Vivek Prakash, Elon Musk, Narendra Modi, Goldman Sachs, It's, Vinay Dwivedi, India Anna Dravida, Vinay, Modi, Mohamed Muizzu's, Jamie Dimon, Modi's Organizations: Bloomberg, Getty, U.S, Power Grid Corporation of India, Goldman, Companies, Reliance Industries, Adani Enterprises, Tamil Nadu —, Dravida Munnetra Kazhagam, India Anna Dravida Munnetra Kazhagam, CNBC, Modi's Bharatiya Janata Party, Vodafone Idea, Vodafone, West, Economic, of New, JPMorgan, CNBC Pro, we'll Locations: Neemuch, Madhya Pradesh, India, Tamil Nadu, Dravida, New Delhi, Maldives, China, Beijing, West Indies, Pakistan, U.S, of New York

☆ I made Ina Garten's spring spaghetti carbonara and had dinner ready in 30 minutes
▼ + stars: | 2024-04-25 | by ( Anneta Konstantinides | ) www.businessinsider.com time to read: +1 min

I made Ina Garten's spring green spaghetti carbonara to celebrate the new season. I loved how light and creamy the pasta was — it's the perfect easy spring dinner. And if you're looking for a quick and easy pasta that's as bright as the new season, look no further than Ina Garten's spring green spaghetti carbonara. "Spaghetti carbonara is true Italian comfort food, but it's incredibly rich," Garten writes in her "Modern Comfort Food" cookbook. Garten's spring green spaghetti carbonara is ready in 30 minutes — a perfect quick weeknight dinner that will still impress your family and friends.

Persons: Ina, —, Ina Garten's, Garten Organizations: Service

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