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☆ U.S. Labor Market Strength Steadies Social Security and Medicare Funds
▼ + stars: | 2024-05-06 | by ( Alan Rappeport | Margot Sanger-Katz | ) www.nytimes.com time to read: +1 min

The financial health of Social Security and Medicare, two of the nation’s most crucial safety net programs, has improved this year as a stronger-than-expected U.S. economy attracted more workers to the labor market, buttressing funding for the critical programs. Annual reports released on Monday by trustees of the old age and retirement programs showed that while both still face long-term shortfalls that could ultimately result in reduced retirement and medical benefits, lawmakers will have slightly more time before they begin to fray. About 70 million people receive Social Security benefits, and more than 66 million participate in Medicare. The fate of the popular programs continues to be a contentious political issue, one that is expected to intensify as the November presidential election draws near. President Biden has pledged to block any cuts to Social Security and Medicare and has called for shoring up the programs with higher taxes on the rich.

Persons: Biden, Donald J, Trump Organizations: Social Security, Republican, Biden

The judge overseeing a landmark U.S. antitrust challenge to Google tried to poke holes in both sides’ cases during closing arguments Thursday, as he weighs a ruling that could reshape the technology industry. Judge Amit P. Mehta was presiding over the first day of closing arguments in the most consequential tech antitrust case since the U.S. government sued Microsoft in the late 1990s. The Justice Department has sued Google, accusing it of illegally shoring up a monopoly in online search. On Thursday, Judge Mehta questioned the government’s argument that Google’s dominance had hurt the quality of the experience for searching for information online. “Certainly I don’t think the average person would say, ‘Google and Amazon are the same thing,’” Judge Mehta said.

Persons: Judge Amit P, Mehta, Judge Mehta Organizations: Google, Microsoft, The

☆ WEF president: 'We haven't seen this kind of debt since the Napoleonic Wars'
▼ + stars: | 2024-04-28 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

Borge Brende, president of the World Economic Forum, gave a stark outlook for the global economy saying the world faces a decade of low growth if the right economic measures are not applied. "The global growth [estimate] this year is around 3.2 [%]. "Trade will change and global value chains — there will be some more near-shoring and friend-shoring — but we shouldn't lose the baby with the bathwater ... Then we have to address the global debt situation. We haven't seen this kind of debt since the Napoleonic Wars, we are getting close to 100% of the global GDP in debt," he said. He also motioned persistent inflationary pressures and that generative artificial intelligence could be an opportunity for the developing world.

Persons: Borge Brende, CNBC's Dan Murphy, shoring Organizations: Economic, Energy Locations: Saudi Arabia

☆ HSBC wealth investor is convinced four secular themes will keep the U.S. economy humming along
▼ + stars: | 2024-04-28 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

A handful of drivers will keep the American economy humming along, said Jose Rasco, chief investment officer of the Americas at HSBC's wealth division. On the cyclical front, Rasco expects growth to cool as the effects of higher rates become fully felt. "Those four themes suggest to me that's how we avoid recession," said Rasco, a Lehman Brothers and Merrill Lynch alum. Bonus: Presidential election year While not exactly an investment trend, Rasco also noted that a big part of his short-term optimism toward U.S. stocks stems from the looming presidential election. Data shows U.S. stocks tend to outperform in presidential election years.

Persons: Jose Rasco, Rasco, Merrill Lynch, it's Organizations: Federal Reserve, CNBC Pro, Federal, Lehman Brothers, U.S, U.S . Research, BlackRock, HSBC Asset Management Locations: New York City, Americas, China, Mexico, U.S

☆ Senior White House official tapped to serve in important European ambassadorial role amid Ukraine concerns
▼ + stars: | 2024-04-18 | by ( Priscilla Alvarez | ) edition.cnn.com time to read: +2 min

Curtis Ried, a longtime career foreign service officer who has served under two presidents at the White House, who currently serves as chief of staff and counselor of the White House National Security Council is being nominated for the post, CNN has learned. As Congress grapples with next steps on Ukraine aid, Biden administration officials have warned of the consequences if Ukraine doesn’t receive billions in additional funding, citing losses on the battlefield and ceding ground to Russia. The OSCE is the world’s largest regional security organization and is made up of 57 members, including Russia. The move to nominate Ried comes as the US seeks to reaffirm leadership on the world stage amid political wrangling in Washington that’s stalled aid to Ukraine. It’s unclear, however, when Ried would assume the post as the nomination still needs to work its way through the Senate.

Persons: Joe Biden, Curtis Ried, Ried, Biden, Michael Carpenter, ” Carpenter, Washington that’s, Bill Burns, “, He’s Organizations: CNN, White House, Organization for Security, Cooperation, Ukraine, White, White House National Security Council, United Nations, Biden, OSCE, National Security Council, CIA, Senate Locations: Europe, Ukraine, Afghanistan, Gaza, Ried, Russia, Israel, Russian, Washington

☆ Second Republican backs effort to oust Speaker Mike Johnson from power
▼ + stars: | 2024-04-16 | by ( Scott Wong | Rebecca Kaplan | ) www.cnbc.com time to read: +6 min

"He should pre-announce his resignation (as Boehner did), so we can pick a new Speaker without ever being without a GOP speaker," Massie wrote on X , referring to former GOP Speaker John Boehner, who resigned in the middle of his term in 2015 while facing a similar conservative rebellion from Massie and others. WASHINGTON — A second House Republican said he will support an effort to oust Speaker Mike Johnson from power over his handling of foreign aid for Ukraine and other issues. Johnson told rank-and-file House Republicans in the room that he won't resign, Massie said, a point he reiterated to reporters. "I stand with the speaker," Trump told reporters when asked about Greene's efforts, adding that he gets along great with both Greene and Johnson. One moderate Republican facing a tough re-election bid this fall, Rep. Mike Lawler, R-N.Y., called Greene and Massie's efforts "idiotic."

Persons: Thomas Massie, Anthony Fauci, Tom Williams, Massie, Johnson, Boehner, John Boehner, Marjorie Taylor Greene, WASHINGTON —, Mike Johnson, Rosie, Greene, Republicans —, —, Kevin McCarthy, Jared Moskowitz, Ralph Norman, Matt Gaetz, Troy Nehls, Jim Jordan, MAGA, Donald Trump, Trump, Mike Lawler, Marc Molinaro, Molinaro, McCarthy, — Kyle Stewart, Syedah Asghar, Lori Rampani, Ryan Nobles, Sahil Kapur Organizations: Capitol Visitor Center, National Institute of Allergy, Inc, Getty, Triple, FISA, GOP, Republicans, Republican, U.S, Capitol, Caucus, MAGA Republicans, New York Republican Locations: Ky, Kentucky, Ukraine, WASHINGTON, DC, Washington , DC, Texas, Ohio, Mar, Israel, Taiwan, Mexico

Our Electoral College maps below lay out the best scenarios for him and Mr. Trump. In a Wall Street Journal battleground poll taken in March, Mr. Biden had only 37 percent job approval in the state. … orand The second and harder path for Mr. Trump would be if he carried only one Southern swing state – most likely North Carolina. By carrying these states, Mr. Biden has several paths to 270, but the first three scenarios are his most viable. Scenario 4 They involve Mr. Biden winning Georgia and Arizona … They involve Mr. Biden winningand Scenario 5 … or Michigan and Georgia.

Persons: Biden, Akshita Chandra, Yuji Sakai, Joe Biden, Donald Trump, Trump, Biden’s, Court’s, … orand, Hamas’s, Mr, …, —, Bill Clinton’s, Doug Sosnik, Bill Clinton Organizations: Presidency, Trump, New York Times, Electoral, Wisconsin –, Sun, Siena, Black, The Arizona, Michigan, Mr, North Carolina, Republicans, Georgia, Democrats, Congressional District, Michigan …, Wisconsin, Democratic, House Locations: Arizona, – Michigan, Pennsylvania, Wisconsin, Georgia, Nevada, North Carolina, Mich, Pa, Nev, N.C, Ariz . Ga, Wis, Ariz ., Michigan, Arizona , Michigan, Arizona , Nevada, Israel, Gaza, Nebraska, Minnesota, United States, Michigan , Pennsylvania

☆ How Bob Iger vanquished a corporate raider in Disney’s most consequential boardroom battle in decades
▼ + stars: | 2024-04-04 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

But over the last several months, the Disney chief made significant moves that took the wind out of those sails. Regardless, the course of action taken by Iger had the same effect, pouring cold water on Peltz’s public grievances. On streaming strategy: Iger moved to take full control of Hulu in a major deal with Comcast. Last week, Disney merged the service into Disney+, putting both libraries into a single app in a move once considered unthinkable. Disney investors overwhelmingly moved to elect Disney’s slate of directors, rejecting Peltz and former company exec Jay Rasulo.

Persons: Bob Iger, Nelson Peltz, shoring, Peltz, “, Iger, ” Iger, Ron DeSantis, ”, Bob Chapek, Morgan Stanley, James Gorman, Jay Rasulo, ” Trian, It’s Organizations: New York CNN, Disney, ESPN, Florida Gov, Hulu, Comcast, CNBC, Google, Partners, Company, Dow Jones Industrial Locations: New York, Magic, —, refocusing

☆ Russia’s Battle With Extremists Has Simmered for Years
▼ + stars: | 2024-03-24 | by ( Neil Macfarquhar | ) www.nytimes.com time to read: +1 min

In the past few months, deep in the forbidding deserts of central Syria, Russian forces have quietly joined the Syrian military in intensifying attacks against Islamic State strongholds, including bombing what local news reports called the dens and caves where the extremist fighters hide. While the world was focused on the conflicts in Ukraine and Gaza, this type of skirmishing has been simmering for years in Syria, and the Islamic State has long threatened to strike Russia directly for shoring up the regime of its sworn enemy, President Bashar al-Assad of Syria. That moment appeared to have come on Friday night with the bloody assault on a Moscow concert hall that left more than 130 people dead. “The fiercest in years,” said a statement of responsibility issued on Saturday by a branch of the Islamic State via its news agency, referring to the long history of brutal terrorist attacks pitting jihadist forces against Moscow.

Persons: Bashar al, Assad, “, ” Organizations: Islamic Locations: Syria, Ukraine, Gaza, Islamic State, Russia, Moscow

☆ US reindustrialization will be the top investment theme of coming decades, RBA says
▼ + stars: | 2024-03-23 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +4 min

The "US industrial renaissance" will be the top investment theme of the coming decade, Richard Bernstein Advisors said. The trend of American companies shifting away from dependence on foreign labor and supply chains should dominate investment strategies in the coming decades the firm said. "The market is already rewarding the beneficiaries of this capital reallocation, but we expect years, if not decades, of further performance from this critical investment theme," RBA president Richard Bernstein said in a note this week. For the US, that means big investment in infrastructure on manufacturing will be needed in the coming years as the world reorients. "The market has already recognized the re-industrialization investment theme despite investors' myopia with respect to more exciting technology-related themes, like artificial intelligence.

Persons: Richard Bernstein, Overreliance, Bernstein, — Organizations: Richard Bernstein Advisors, Service, Republicans Locations: America

In an AP-NORC poll conducted in February, 38% of U.S. adults approved of how Biden was handling his job. Black adults are more likely than white and Hispanic adults to approve of Biden, but that approval has dropped in the three years since Biden took office. This is stuff that requires work,” Quentin Fulks, principal deputy campaign manager for the Biden campaign, said in an interview. Still, the Biden campaign and the broader Democratic Party are confronting their own struggles, despite their cash and organizational advantages. And in Nevada, Biden will continue promoting a new housing proposal that would offer a mortgage relief credit for first-time homebuyers and a seller's tax credit to encourage homeowners to offload their starter homes.

Persons: Joe Biden, Harris, Biden, Donald Trump, They're, Trump, Jill Biden, ” Quentin Fulks, “, ”, Maria Cardona, White, Lael Brainard, Sen, Catherine Cortez Masto, —, ” Cortez Masto, Linley Sanders, biden Organizations: WASHINGTON, Democratic, Biden, Asian American, Bilingual, GOP, Republican National, Trump, RNC, Trump's, Democratic Party, AP VoteCast, ”, White, National Economic Council, Republican, Associated Press Locations: Nevada , Arizona, Texas, Reno , Nevada, Washoe County, Las Vegas, Phoenix, U.S, Arizona, Maryvale, Nevada and Arizona, Biden's State, Biden’s, Nevada , Pennsylvania, North Carolina, Wisconsin, In Arizona, Nevada, Dallas, Houston

☆ India wants to be a global chip powerhouse in 5 years
▼ + stars: | 2024-03-18 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

India wants to be among the world's top five semiconductor producers in the next five years, said Ashwini Vaishnaw, minister of electronics and information technology, railways and communications. The chip industry "is a very complex market, and global value chains and global supply chains are extremely complex in the current context," Vaishnaw said on CNBC's Street Signs Asia on Friday. As of December, Taiwan holds about 46% of global semiconductor foundry capacity, followed by China (26%), South Korea (12%), the U.S. (6%) and Japan (2%), according to market intelligence firm TrendForce. I call it 'trust shoring' because there is a global trust in India," Vaishnaw said. "A lot of our chips are designed in India, and that presence in India is also creating opportunities for a number of Indian companies."

Persons: Ashwini Vaishnaw, Vaishnaw, Narendra Modi, Frank Huang, Rajeev Chandrasekhar Organizations: Qualcomm, CNBC, Tata Electronics, Powerchip Semiconductor Manufacturing Corp, PSMC, Economic Times Locations: India, Taiwan, China, South Korea, U.S, Japan, Chennai

☆ CNBC Daily Open: Fed rate meet in focus
▼ + stars: | 2024-03-18 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Nikkei 225 and the Topix gained, while China's CSI 300 index and Hong Kong's Hang Seng also rose. Wall Street ended lower on Friday as focus shifts to the Federal Reserve's policy meeting this week for insights on rate cuts. [PRO] U.S. election risk on China stocksGoldman Sachs has revised its barometer for the level of risk from U.S.-China tensions in Chinese stocks.

Persons: Seng, Ashwini Vaishnaw, Joe Biden, Goldman Sachs Organizations: CNBC, Nikkei, CSI, Nasdaq, Dow, Retail, White, Congress Locations: Asia, Japan, China, India, U.S

☆ Trump 2.0 would threaten Mexico's new status as America's top trade partner
▼ + stars: | 2024-03-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

A second Trump presidential term poses a risk to Mexico's status as the US's top trade partner. According to Capital Economics, Trump 2.0 threatens Mexico's newly gained status. In a Tuesday note, Capital Economics strategists said much of the impact would hinge on whether the US-Mexico-Canada Agreement (USMCA) deal remains intact. To Capital Economics, Mexico is one of the most vulnerable emerging markets as far as repercussions to this potential move. Mexico's trade with the US accounts for about one-third of its GDP.

Persons: Trump, —, Donald Trump, USMCA Organizations: Trump, Capital Economics, Service, Capital, North America Free Trade, US Alliance of Automobile Manufacturers Locations: Mexico, China, Canada, US, shoring

☆ Standing Up to China, Philippine Leader Courts New Network of Partners
▼ + stars: | 2024-03-16 | by ( Sui-Lee Wee | Camille Elemia | ) www.nytimes.com time to read: +1 min

With China aggressively asserting its claims on the South China Sea, President Ferdinand R. Marcos Jr. of the Philippines spent his first year on the job beefing up Manila’s alliance with its oldest ally, the United States. Mr. Marcos is adding a new intensity to his muscular foreign policy at a critical moment in his country’s territorial dispute with Beijing. In January, Mr. Marcos and the leaders of Vietnam, another country fighting off Chinese claims to the crucial waterway, pledged closer cooperation between their coast guards. This month, Mr. Marcos clinched a maritime cooperation deal with Australia. “It has to be recognized that the South China Sea handles 60 percent of the trade of the entire world.

Persons: Ferdinand R, Marcos Jr, Marcos, it’s, Mr Organizations: Maritime, Australia, South China, ASEAN, Association of Southeast Asian Nations Locations: China, Philippines, United States, Beijing, Vietnam, Europe, South, Berlin

☆ Opinion: Why gangs hold so much power in Haiti
▼ + stars: | 2024-03-15 | by ( Opinion Garry Pierre-Pierre | ) edition.cnn.com time to read: +16 min

CNN —The last few weeks have brought unthinkable upheaval in Haiti, a country that is no stranger to tragedy and suffering. Nothing can compare to the current upheaval in Haiti though, and I would expect new waves of Haitians to seek refuge on foreign shores. After securing its independence, Haiti was subjected to neocolonialism and neglect by the global superpower on its doorstep, the US. Haiti needs help combating corruption and loosening the stranglehold that the country’s oligarchic masters have on its economy. He remains sequestered in Haiti however, because he knows that leaving would mean his business would be looted and pillaged.

Persons: Garry Pierre, Pierre, Ariel Henry, Henry, —, ‘ Papa Doc ’, François “ Papa Doc ” Duvalier, Jean, Claude “ Baby Doc ” Duvalier, Claude Duvalier, Bertrand Aristide, Duvalier, — Aristide, ”, Jimmy, Giles Clarke, Jimmy Cherizier, Guy Philippe, Aristide, Philippe, Cherizier, Henry’s, Uncle Sam, strongmen, America sneezes Organizations: Haitian Times, New York Times, World Trade Center, City University Graduate School, Journalism‘s Center for Community, Ethnic Media, CNN, Haitian, ., UN, Haiti, US, Haiti —, Caribbean, Alcohol, Tobacco, Firearms, Drug, Agency, America Locations: New York, Haitian, Haiti, Puerto Rico, Caribbean, France, Canada, Washington, Kenya, Nairobi, Port, Haiti’s, Africa, Delmas, Prince, Jamaica, America, Maryland

☆ Opinion: How my homeland Haiti came to be such a troubled place
▼ + stars: | 2024-03-15 | by ( Opinion Garry Pierre-Pierre | ) edition.cnn.com time to read: +16 min

CNN —The last few weeks have brought unthinkable upheaval in Haiti, a country that is no stranger to tragedy and suffering. Nothing can compare to the current upheaval in Haiti though, and I would expect new waves of Haitians to seek refuge on foreign shores. Haiti needs help combating corruption and loosening the stranglehold that the country’s oligarchic masters have on its economy. He remains sequestered in Haiti however, because he knows that leaving would mean his business would be looted and pillaged. Although formidable challenges lie ahead, the path to peace and stability in Haiti is possible with help from Washington.

Persons: Garry Pierre, Pierre, Gary Pierre, Ariel Henry, Henry, —, ‘ Papa Doc ’, François “ Papa Doc ” Duvalier, Jean, Claude “ Baby Doc ” Duvalier, Claude Duvalier, Bertrand Aristide, Duvalier, — Aristide, ”, Jimmy, Giles Clarke, Jimmy Cherizier, Guy Philippe, Aristide, Philippe, Cherizier, Henry’s, Uncle Sam, strongmen, America sneezes Organizations: Haitian Times, New York Times, World Trade Center, City University Graduate School, Journalism‘s Center for Community, Ethnic Media, CNN, Haitian, ., UN, Haiti, US, Haiti —, Caribbean, Alcohol, Tobacco, Firearms, Drug, Agency, America Locations: New York, Haitian, Haiti, Puerto Rico, Caribbean, France, Canada, Washington, Kenya, Nairobi, Port, Haiti’s, Africa, Delmas, Prince, Jamaica, America, Maryland

☆ What's happening in Haiti? Prime minister resigns amid gang violence
▼ + stars: | 2024-03-14 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +7 min

The country's prime minister resigned this week amid mounting international and national pressure. AdvertisementThe Caribbean island nation of Haiti is on the brink of catastrophe after weeks of ongoing gang violence and political unrest. Finance Minister Patrick Boisvert, who was acting as the country's prime minister with Henry out of the country, ordered a state of emergency on March 3. Henry, 74, has been the unelected prime minister of Haiti since the 2021 assassination of then-President Jovenel Moïse. Various representatives of Haiti's political and private sectors will make up the council that chooses the next leader, he said.

Persons: —, Ariel Henry —, Henry, Jimmy Chérizier, Patrick Boisvert, Chérizier, Prince —, Ariel Henry, Jovenel Moïse, Moïse's, Moïse, Guerinault Louis, Haiti hasn't, Antony Blinken Organizations: Service, Haitian, UN, Finance, United Nations, CBS, Anadolu, Getty, Western Hemisphere, Associated Press, AP, Multinational, International Rescue, Reuters Locations: Haiti, Puerto Rico, Kenya, Port, Dominican Republic, Caribbean, Haitian, Hispaniola, Bahamas, Mexico

☆ A federal climate jobs program could hire 20,000 workers this year
▼ + stars: | 2024-03-14 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

President Joe Biden this month made climate jobs a major focus of his reelection bid. The administration plans to launch the American Climate Corps this summer with about 20,000 workers, but the funding is pieced together from various federal agencies. These prospective voters are also the target hires for the American Climate Corps, which will focus on reducing greenhouse-gas pollution in local communities and making them more resilient to extreme weather. Stevie O'Hanlon, a spokesperson for the Sunrise Movement, which mobilizes young voters focused on the climate, said the launch of the American Climate Corps was a big win. But the chances of Congress approving more funding for the workforce program are slim, given that House Republicans last year tried to block any federal spending for the American Climate Corps.

Persons: Joe Biden, Biden, Trevor Dolan, Dolan, Stevie O'Hanlon, O'Hanlon, Donald Trump hasn't, We've Organizations: Service, Climate Corps, American, Corps, Business, Biden, American Climate Corps, Evergreen, EV, Sunrise Movement, Republicans Locations: Appalachia

Surprisingly Weak Ukrainian Defenses Help Russian AdvanceUkrainian trenches Ukrainian trenches Rudimentary Ukrainian trench lines outside Avdiivka, in an area claimed by Russia. But there’s another reason the Kremlin’s troops are advancing in the area: poor Ukrainian defenses. These trench lines lack many of the additional fortifications that could help slow Russian tanks and help defend major roads and important terrain. 2 miles Pavlivs’ke Novofedorivka Robotyne Russian fortifications Russian-claimed control Verbove Russian defenses shown below Held by Russia Novoprokopivka Romanivs’ke 2 miles Pavlivs’ke Novofedorivka Russian-claimed control Russian fortifications Verbove Russian defenses shown below Held by Russia Romanivs’ke Russian-claimed control Pavlivs’ke Novofedorivka Russian fortifications Verbove Russian defenses shown below Held by Russia Romanivs’ke 2 miles Sources: Satellite image from Planet Labs; Russian-controlled territory (as of Feb. 29, 2024) from the Institute for the Study of War with American Enterprise Institute’s Critical Threats Project; Russian fortifications based on data from Brady Africk. Satellite imagery from February shows the multilayered Russian defenses to the west of Verbove, with thousands of shell craters visible in the surrounding fields.

Persons: Avdiivka, Soloviove, Berdychi Stepove, Krasnohorivka, Russia Berdychi, Kyiv’s, Russia Novoprokopivka, Pavlivs’ke, Brady Africk, Verbove, “, ”, Serhiy Hrabskyi, They’d, Denys Shmyhal, Volodymyr Zelensky, Zelensky’s, Paroinen, Mr, Hrabskyi, ” Mr, Oleksandra Mykolyshyn Organizations: Planet Labs, The New York Times Russian, Ukrainian Army, Russia Berdychi Stepove, Institute for, American, The New York Times, Black Bird Group, Russian Army Locations: Avdiivka, Russia, Ukrainian, Ukraine, Russia Russian, Verbove, Russian, U.S, Moscow, Donetsk, Ivano, Frankivsk, shoring

☆ Drugs like Ozempic and Wegovy could strengthen the US economy, Goldman Sachs predicts
▼ + stars: | 2024-02-27 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —The US economy is set to reap considerable benefits from Americans taking popular medications used for weight loss, including Ozempic and Wegovy, Goldman Sachs analysts wrote in a recent research report. Originally developed to treat type 2 diabetes, they proved to be highly effective at helping people shed weight in clinical trials. (Ozempic has not been approved for weight loss by regulators, though Wegovy, a similar drug, has.) Goldman Sachs argues that since poor health unambiguously weighs on the economy, improving health outcomes due to GLP-1s could lower costs and boost productivity, shoring up economic output. For some Americans who are obese but don’t have diabetes, obtaining those drugs has become difficult, if not impossible.

Persons: Goldman Sachs, Eli Lilly, Jody Dushay, Beth, Doug Langa, they’ve Organizations: DC CNN, Government, Novo Nordisk, Beth Israel Deaconess Medical, CNN Locations: Washington, United States, North America, Novo

☆ Why India’s economy under Modi offers a real alternative to China
▼ + stars: | 2024-02-26 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

The market value of companies listed on India’s exchanges crossed $4 trillion in late November. But the country is stuck in recession and recently lost its position as the world’s third biggest economy to Germany. While interest in the world’s fifth largest economy is rising, the lofty prices of India’s stocks are scaring some international investors away. According to Macquarie, retail investors alone own 9% of India’s equity market value versus foreign investors at slightly under 20%. China “has a few too many companies which are $100 and $200 billion plus [in value],” Mittal said.

Persons: Peeyush Mittal, there’s, ”, Mittal, They’ve, Narendra Modi, Indranil Mukherjee, Jefferies, “, MSCI, Aditya Suresh, Modi’s, Modi, there’ll, ” Suresh, shoring, Hubert de Barochez, Elon Musk, India “, ” Musk, Suresh, Satish Babu, China “, ” Mittal, Priyanka Agnihotri, Nirmala Sitharaman Organizations: New, New Delhi CNN —, Matthews Asia, Getty, Macquarie Capital, Bharatiya Janata Party, Monetary Fund, Jefferies, Capital Economics, Apple, Foxconn, ”, Workers, Chennai Metro Rail, Advisory, Indian Locations: New Delhi, Jaipur, San Francisco, India, China, Shanghai, Shenzhen, Hong Kong, Japan, Germany, Beijing, Washington, “ India, Macquarie, Chennai, Baltimore

☆ Colorado GOP establishment figures are lining up against Lauren Boebert as she faces a competitive primary in her district
▼ + stars: | 2024-02-23 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +2 min

Read previewAs Rep. Lauren Boebert campaigns in her new Colorado district, establishment GOP figures who used to represent the area are lining up against her. On Thursday, three former Colorado GOP senators — Cory Gardner, Wayne Allard, and Hank Brown — endorsed Logan County commissioner Jerry Sonnenberg, one of several opponents Boebert faces in the GOP primary. All three ex-senators used to represent the 4th district, which covers the eastern portion of the state, in the House. "Each of them knows the fourth district and understands the kind of principled leadership our community needs in Congress," said Sonnenberg. During one recent debate, Boebert was asked by one of her opponents to define the word "carpetbagger."

Persons: —, Lauren Boebert, — Cory Gardner, Wayne Allard, Hank Brown —, Jerry Sonnenberg, Gardner, Sonnenberg, Boebert, she's Organizations: Service, Colorado GOP, GOP, Business, Colorado Senate, vaping, Republicans Locations: Colorado, Logan, Sonnenberg, Boebert, Denver

☆ Biden administration to issue new cyber directives aimed at defending ports
▼ + stars: | 2024-02-21 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +3 min

CNN —The Biden administration on Wednesday will issue multiple cybersecurity directives aimed at shoring up vulnerabilities at US maritime ports that could be exploited by hackers and addressing security risks from Chinese-made cranes, according to senior US officials. There are more than 200 Chinese-made cranes at “US ports and regulated facilities,” according to Vann. Coast Guard cyber experts have done security assessments and hunted for malicious cyber activity on 92, or less than half, of those cranes, he said. Among the targets of the hacking was US critical infrastructure in Guam, and the Coast Guard has been on the frontlines of response to the digital intrusions. US maritime ports generate trillions of dollars in economy activity each year, according to experts.

Persons: CNN —, Biden, Joe Biden, John Vann, Vann, ” Vann, Christopher Wray, Wray, ”, Anne Neuberger Organizations: CNN, Coast Guard, Coast Guard Cyber Command, China, White, Port Locations: Vann, China, Guam, Port of Houston

☆ Handwringing over Biden's age has Democrats worried about a repeat of Ruth Bader Ginsberg's refusal to step down
▼ + stars: | 2024-02-18 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +11 min

Read previewAt 81 years old, President Joe Biden is facing criticism from Republicans and Democrats alike that he's too old to be president again. Many draw parallels between Biden and the late Supreme Court Justice Ruth Bader Ginsburg, who refused to step down from her lifetime appointment to the court while President Barack Obama was in office. The current Supreme Court is comprised of 6 conservative justices and 3 liberals, though Chief Justice John Roberts is often considered a swing vote. Bill Clinton's choice for Supreme Court vacancy, on Capitol Hill, June 15, 1993. Supreme Court justices are appointed, not elected, and the confirmation of Obama's nomination of Garland was blocked by Republicans in the Senate in the wake of Antonin Scalia's death in 2016.

Persons: —, Joe Biden, Jon Stewart, Ezra Klein —, Donald Trump, Biden, Ruth Bader Ginsburg, Barack Obama, Ginsburg, Obama, Merrick Garland, shoring, Trump, Amy Coney Barrett, John Roberts, Justin Buchler, Pres, Bill Clinton's, Marcy Nighswander, Garland, Antonin Scalia's, Hillary Clinton, Clinton, she'd, Roe, Christian Grose, Daniel Patrick Moynihan, Dean Phillips, Grose, Buchler, Kamala Harris, Gavin Newsom —, Harris, Newsom, Lyndon Johnson, Hubert Humphrey, Richard Nixon, Robert Hur, I've, flubs, Abdel Fattah al, Nikki Haley, Nancy Pelosi, Peter Loge, Younger, Ron DeSantis, Vivek Ramaswamy, Phillips, let's, I'm, we'll, Ron Sachs Organizations: Service, Democrats, Business, Supreme, Democratic, Case Western Reserve University, Committee, Capitol, AP, Trump, Wade, CNBC, University of Southern, Research, California Gov, Washington Post, Democrat, Biden, Republicans, GOP, Politico, Minnesota, Time, NBC News, Reuters, US, Judiciary, Washington DC Locations: Biden's, University of Southern California, California, Mexico, South Carolina, Trump, Capitol Hill, Washington

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